FARMING & COMMERCIAL

Dominion, Volume 16, Issue 154, 17 March 1923, Page 8

FARMING & COMMERCIAL

NEWS AND NOTES

AUCTION SALES FORTHCOMING FIXTURES. TUESDAY. Levin Yards, 12 noon. —Stock sale. 105 Customhouse Quay, Wellington, 2.30 p.m.—Property sale (S. Geo. Nathan and Co.). 195 Lambton Quay, Wellington, 2.30 p.m. Property sale (Harcourt and. 1 Co.).

FARMING INTERESTS

ENGLISH WOOL MARKET BETTER TONE AND MORE INQUIRY. (Rec. March 16, 9.40 p.m.) London, March 15. At the wool sales a good selection of crossbreds and a fair offering of merinos were all firm at yesterday’s rates.

The Bradford tops market is firm, with a slightly better tone and more inquiry, but actual business is small. 64’b, 59d.; 60’s, 53d.; 56’s, 35d. ; 50’s, 265.; 46’s, 17Jd.; 40’s, 16d.—Aus.-N.Z. Cable Assn.

FAT STOCK FOR EXPORT THIS WEEK’S PRICES. The New Zealand Meat Producers’ Board advises that the following prices were being offered on March 15:— Auckland—Wethers. 641 b. and under, 5Jd. ; prime woolly lambs, 421 b. and under 3)d., 431 b. and. over Bd.; second quality lambs. Bd. Poverty Bay.—Wethers, 641 b. ana under. s(d. > prime woollv lambs, 421 b. and under 83d., 431 b. and over Bd.; second quality lambs, Bd.; prime ox beef 20s. ?tor 1001 b.: second quality ox beef, 17s. per 1001 b Hawke’s Bay—Wethers, 641 b. and under 6d; prime woollv lambs, 421 b. and under 91d.; 431 b. and over BJd.; second quality lambs, 8?d. Wanganui —Wethers. 641 b. and under 6d.; prime woolly lambs, 421 b. and under 911 b., 431 b. and over B}d.; second quality lamb, BJd.; prime ox beef, 20s. per 1001 b.; cow beef, 15s. per 100 lb. : heifer beef. 17s. 6d. per 1001 b. Canterbury.—Wethers, 641 b. and under, 6|d.; prime woolly lambs, 421 b. and under Old.: second quality lamb, 9d. Southland —Wethers. 561 b. and under, 6Jd.; prime woolly lambs, 421 b. and under 9|d., 431 b. and over, 9d.; second quality lambs, 9d. FROZEN MEAT PRICES Messrs. Dalgety. and Company, Limited, report' having received the following cablei’Kim from their London, house under date, March 15: — “Quotation New Zealand prime crossbred lamb Canterbury, heavy, 12jd.; light, 12}d.; North Island, heavy, 12d. • light, 12d. Demand for New Zealand lamb poor, owing to cold weather; market weaker. New Zealand prime crossbred mutton North Island, heavy, 9d.;, light, 9d. Demand'for New Zealand mutton limited, prices nominal. .Now Zealand prime ox beef, hinds, 4jd.; fores, 3Jd. Demand for Now Zealand beef moderate, prices vary from day to day. G.A.Q. crossbred lamb, Australian heavy, 9d.; light, lOd. G.A.Q, crossbred mutton, Australian heavy, 5Jd.; light, 6|d. Demand for Australian lamb runs principally on finest qualities, for mutton poor. Quotations for Australian lamb aro for the finest quality. Seconds can be bought at BJd. and thirds at 7Jd.” ' Messrs. M. A. Eliott, Ltd., Palmerston North, have received cable advice from Messrs. Gilbert Anderson and Co., Ltd., London, of the following Smithfield prices for the week ended March 16. These prices are on the “delivered” basis, that is, including storage charges, cartage, etc.: —North Island prime Down lambs, U/36 36/42 12j}d., 42/50 12|d.; best North Island prime crossbred lambs, U/42, 12Jd.: ordinary North Island lambs. U/42 lljd., second quality U/42 IOJd.; best North Island wethers and/or maiden ewes. 48/56 9|d., 56/64 BJd„ 64/72 Bd.; ordinary North Island wethers and/or maiden ewes, 48/56 9d., 56/64 Bi<l., 64/72 7|d.; North Island ewes, U/64 7d., 64/72 6Jd., 0/72 6d. Remarks: Lamb, Jd. to gd. lower; wethers, par to Jdj lower; ewes, no change; beef, no quote.”

DAIRY PRODUCE MARKETS Messrs. Dalgety and Company, Limited, report having received the following cablegram from London, under date March 15:—“Butter, market dull. We quote New Zealand salted, 2065.; Aus-

tralian G.A.Q., 1945.; Danish, 2145. ; Australian finest salted and unsalted, 202 s Chijosc, market, firm. Now Zealand white, 1485.; coloured, 150 s. The total import*; of butter into the United Kingdom during February, 462,000 cwt., as compared with 411,000 cwt. for the corresponding month last year.” SALE OF GREAT DAIRY STOCK SIRE Wanganui, March 15. An important stud stock sale was completed to-day, when Mr. Arthur Collins, of Lucernednle, Mount Bryan, South Australia, bought Mr. John Donald’s famous Friesian bull, Woodcrest Pietzo Pontiac, which is claimed to be the world’s greatest living sire of dairy stock. The price runs into big figures, though it has not been announced for publication.

COMMERCIAL ITEMS

WELLINGTON STOCK EXCHANGE YESTERDAY’S BUSINESS AND PRICES At the afternoon call yesterday sales were reported of 51 per cent. Inscribed Stock, 1933, at £lOO 155., National Bank shares at £6 Bs. 6d., Bank of New Zealand shares at £2 175., and 4J per cent. Otago Harbour Board debentures, 1934, at £B9. There were no transactions recorded at the morning call. Gilt-edged securities were again unchanged. Bank of New Zealand shares were in demand at £2 16s. 9d., and Union Bank at £l4. Gas shares were steady and generally unchanged. Napier Gas, £5 paid, were in demand at £5 Is. 6d. National Insurance shares were 3d. dearer .at £3 15s 6d. Gear Meat shares were firm at £2 Is. 3d. There were buyers of Huddart-Parker ordinary shares at £2 19s. 6d., cum dividend, an advance of 3d., and Union Steam preference at, 19s. lOd. Wellington Woollen preference shares were slightly easier, with buyers at £8 17s. 6d. Westport Coal shares were firm at 365. 9d. Buyers offered £1 Us. for Taringamutu Totara shares, 21s. for National Electric, £2 18s. 6d. for New Zealand Drug. 245. 6d. for Wilson’s Cement, and £BB 10s. for Otago Harbour Board debentures. . . There will be no sitting of the Exchange to-day. Yesterday’s buying and selling quotations were as under: —

NORTH ISLAND WOOL SALES FOUR SALES IN TEN DAYS The Auckland wool sale will be held to-day. On Tuesday a sale will be held at Wanganui, when about 14,,000 bales will be offered. The sale at Napier is to be held on Friday, March 23, .when the offerings will consist of about 21,000 bales. The sale at Wellington is to begin at 8 p.m. on Monday, March 26, and will be continued the next day. The offerings hero will consist of 30,000 bales, and Messrs. Dalgety and Cowill begin the sale on Monday evening. The London wool sales are proceeding satisfactorily, and from the quotations received by Messrs. Levin and Co., of realisations at the London sales, it is possible to compare London prices with those current at the February sales in Wellington. The comparison is as under: —

From the London prices therg must be deducted the London charges, amounting to about 2d. per lb., and from the Wellington prices the local charges must be deducted. When this is done it will be seen that values here and in London are about on a parity. Wool is a world commodity, and userti are not likely to pay more for the staple in London or Liverpool than they can get it for in Wellington or Auckland. The opinion that was fairly generally held that. tho drop in prices at the opening of the London wool sales was of a temporary character appears to have been well founded, for a message published yesterday stated that there was strong competition, and that prices were about 5 pet cent, above tho opening rates. The heavy withdrawals and

the abandonment of the Liverpool sales have no doubt helped to stillon tho market. Some merino wool sold at the Dunedin sale last week realised 30d. per lb., which is a record. The wool, however, did not happen to bo New Zealand grown. Some merino rams imported from Australia were shorn, and tho clips made just one bale, and it was this wool that sold at 30d. per lb. COLONIAL AND OTHER PRODUCE. AUS.-N.Z. CABLE ASSOCIATION. (Rec. March 16, 7.55 p.m.) London, March 15. Wheat cargoes are fully steady, but prices have checked demand. Parcels are in fair request, and have advanced 3d. per quarter. Spot trade is inactive, but prices are steady. Australian landed, 525. 9d. per quarter. , Flour is slow. Australian, ex store, 375. Barley is steady. New Zealand malting, on spot, 425. to 465. March-April shipment. 445. nominal. Oats are dull. A Gartons, on spot, 355. to 365. March-April shipment, 325. nominal. , Peas are slow. Maples, on spot, are not being offered. Blue, New Zealand, on spot, 3405. to 3805.; March-Anril shipment, 3405. nominal. Sugar, granulated, 61s. 4d. per cwt. MELBOURNE PRODUCE MARKET. By Telegraph.—Press Association. Melbourne, March 16. In the Melbourne hides market competition is very firm on thg heavigs, resulting in good clearances in seller’s favour. Kips and lights are unchanged. Barley, English, 3s. 6d. to 45.; Cape, Bs. Id. to Bs. ljd.; oats, 3s. Bd. to 3s. 9d.; potatoes, £4 10s. to £5; onions, £3 ss. to £3 7s. EXCHANGE RATES. (Rec. March 16. 9.40 n.m.) Lop.don, March 15. Foreign rates o£ on. March 15, as compared with parjrs. 4r as averaged first half of 1914, are as[follow:— JJar. 12 Mar. 15 Par. New York, dole, to £1 4.703 4.693 4.86 2-3 Montreal, dols to £1 4.80 4.795 4.86 2-3 Paris, francs to £1 ... 77.75 75.70 25.223 Stockholm, knr. to £1 1670 17.63 18.159 Christiania, knr. to £1 26.10 25.80 18.159 Copenhagen, knr. to £1 24.65 24.33 18.159 Berlin, marks to £1 ... 97.5C0 97.500 22.43 Rome, lire to £1 98i 973 25.23 J Yokohama, pence to yen 248 243 24.43 Calcutta, pence to rupee 161-16 16 3-32 25 Hong-Kong, pence to dol. 27J 282 25 TALWW~MARKET. Messrs. A. H. Turnbull and Co. have) received the following cable message from Messrs. AV. AVcddcl and Co., Ltd., dated London, March 14: — At tallow auctions to-day 1140 casks were offered and 700 sold. Tallow market unchanged to 6d. advance. CUSTOMS REVENUE. Customs revenue collected at the port of Wellington yesterday totalled £6695.". MINING NpWS WELLINGTON SHARE MARKET

The following quotations were recorded in the mining market yesterday :— Buyers. Sellers. £ s. d. £ s. d. Waihi 17 6 18 6 STOCK EXCHANGE. ' Auckland, March 16. Sales—Bank of Australasia. ■ £l3 10s.; Bank of New Zealand, 575.; Tauniri Goal. 20s. 6d.; Auckland Gas. 255. 9d.: Kauri Timber. 27b. 9d.; Mihie. Cboyce (new issue), 22h. 9d.; Moanatainri. 3s. 6d.: Waihi. 28s. Christchurch. March 16. Sales reported-P. and 0., Deferred, £310.; Ward’s Brewery. £1 17b. 6d. ' WAIHI SHARES. Aus.-N.Z. Cable Assn. (Rec. March 16. 9.40 p.m.) London, March 15. Stock Exchange quotations include: — Waihi shares, 28s.

Buyers. £ s. d. Sellers. £ 8. d. WAR LOANS44 D.c. Inec. Stock, 1939 —— 97 7 6 44 d.c. Jnsc. Stock, 1938 97 0 0 — 4A P.O. War Bonds, 1939 97 0 0 — 44 d.c. War Bonds, 1938 97 0 0 d.c. War Bonds, 1930 97 0 0 •— 6 d.c. P.O. Bonds, 1927 27 7 6 5 d.c. P.O. Insc. Stock, 1927 97 7 6 — BANKSNational —— ■ 6 9 0 .New Zealand 2 16 9 2 17 14 0 0 14 3 6 FINANCIAL— < National Mortgage ... — 4 0 0 Wellington Invest 0 9 4 —— Well. Trust Loan . 6 14 0 .— GASAuckland (paid) 15 9 —- Napier (.£10) 10 2 6 — Ditto (£5) > 5 16 —— Wellington (pref.) 0 16 6 — Ditto Debentures ... : 105 5 0 106 0 0 Ditto Fractions — 0 5 9 INSURANCENational 3 15 6 —• __ 1 15 0 M EAT FREEZING— N.Z. Refrig. (10b.) — 0 14 6 Gear 2 1 J —• Well Meat Ex. (£.5) ... — 4 12 6 Ditto (£3 12s. 6d.) ... — 3 2 6 TRANSPORT— Huddart-Parker (o.d.). (ord.) 2 19 6 3 0 6 Union Steam (pref.) ... 0 19 10 «— WOOLLENKaiapol (ord.) — 14 3 Ditto (con.) ■. — 0 12 0 Wellington (pref.) 8 17 6 9 2 6 COALWestport 1 16 9 —- TIMBERTarlngamutu 1 11 0 — MISCELLANEOUS— National Electrio 1 1 0 1 2 0 N.Z. Drug (c.d.) 2 18 6 — N.'Z. Pape»’ Mills 1 4 9 — Wilson’s Cement 1 4 6 15 0 4J p.c. Otago Harbour Bd. Deben.. 1934 88 10 0 —— Makerua Drain. Deb. —■ 100 0 0 Cook County Deb — 97 0 0

London Wellington Mar. 14. d. d. Feb. 23. d. d. Sup. halfbreds, 56’s 20 to 24 19 to 21 Fine do., 50-56 .... 19 to 22 18 to 22 Coarser do., 48-50 . 15 to 18 15 to 19 Fine xbred, 46-48 . 13 to 15 10} to 12? Med. do., 44-46 11 to 12 9} to 12} Coarse do., 40-44 .. 10 to 11 8.} to 10} Low do., 36-40 9 to 10 7 to 8J