FARMING & COMMERCIAL

Dominion, Volume 16, Issue 156, 20 March 1923, Page 10

FARMING & COMMERCIAL

NEWS AND NOTES

AUCTION SALES FORTHCOMING FIXTURES. TO-ftAY. Levin Yards, 12 noon. —Stock sale. 61 Majoribanks Street, Wellington. 1 p.m. —Furniture sale (Vine and Wilson). 157 Lambtoni Quay, Wellington, 1.30 p.m.—Furniture sale (Johnston and Co.). 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 Co.). TO-MORROW. 26 Upper Rata Street, Wellington, 1.30 p.m.—Furniture sale (Vine and Wilson). Johnsonville Yards. 2 p.m. —Stock sale. 15-17 Brandon Street, Wellington, 2.30 p.m.—Land sale. (J. H. Bethune ana Chamber of Commerce, Wellington, 2.30 p.m.—Land sale'(Thomson, Brown, and East, Ltd.). 105 Customhouse Quay, Wellington, 2.30 p.m.—Sale of residence (S. Geo. Isathan and Co.). THURSDAY. 157 Lambton Quay, Wellington, 10 a m —Sale of linoleum (Johnston and Co.) Wanganui, 12 noon. —Sale of stock and implements (Dalgety and Co., Ltd.). Waikanae Yards, 1 p.m—Stock sale.. Upper Hutt Yards, 1 p.m—Stock sa.e. 5 Boulcott Terrace, Wellington, 1.30 p.m. —Furniture sale (Johnston and Co.). FARMING INTERESTS WANGANUI WOOL SALE PRICES FIRM. BY TELECBAPH—SPECIAL COBKESPONDSNT. Wanganui. March'l9. Eleven thousand five hundred bales of wool were offered to a good. attendance of buyers at the Wanganui wool sale. The selection was medium to inferior, seed being much in evidence. Bradford and the Continent were the chief buyers. No wools suitable for America were offering. Dominion scourers were bidding f*reelv for bellies and nieces. Prices were firm at late rates, inferior and medium crossbreds, when compared with the last Wanganui sale, selling in sellers’ favour. Bellies and pieces also show a hardening tendency. Good bright crossbred if anything is slightly lower. Bidding is fairly animated, and it is evident buyers have orders for all grades, and are anxious to secure supplies at the present ruling rates. The sale will continue to-mor-row. So far about 75 per cent, of the offerings have been sold. A Press Assjiciation telegram states, that there was very keen competition from Bradford and the Continent. Coarse and low crossbreds sold bettor than in February. There was less irregillcrity, a more sustained demand, and an improvement of a farthing to a halfpenny per pound and in some 1 cases more.

WAIRARAPA P. AND A. SOCIETY MONTHLY MEETING. FHOM CUB OW.X COJIBEBPONDENT. Carterton, March 19. The General Committee of the W»irarapa P. and A. Society met at Carterton on Saturday, Mr. G. E. Allem presiding. The treasurer’s statement showed an overdraft of £19.19 Is. &d. Receipts during the month were £loo os. od.. of which £92 9s. 6d. were on account of the stock drive. : The Manawatu and the Mastorton A. and P. Associations wrote promising support to ' the nomiation of Mr. T. 0. Haycock, for a vacancy on the Board of Agriculture. Mr. G. E.. Allen was appointed to represent tlio XX an-a-rapa Society at the election which takes place at Palmerston North on Wednesday. . A committee was appointed to confer with the Wairarapa Rugby Union regarding their application for the use of the show grounds for the forthcoming football season. The Friendly Societies were granted the use of the show grounds for the anual seven a-side tournament on Saturday next, on the usual terms of lo per cent, of the gross takings. Tho Bank of New Zealand advised a reduction in the rate of interest to of per cent. , , . . , It was decided that the society be represented at a meeting at Carterton on Tesday to examine various herd testing systems, and to discuss other matters of inerest to the dairy Industr'Mr. Harris, of Pukio, was accorded a vote of thanks for his donation. Five new members were elected. It was reported that the canvass of the Carterton and Gladstone districts in connection with the stock drive had Keen completed, and that the stock would be sold at Carterton on Friday next. The Lowsr Valley is to be canvassed after Easter. Mri IXI. Elgar, of Featherston, now in England, was accorded a vote of thanks” for an interesting letter con'cemin" New Zealand produce on the Home”market, and it was decided to forward the letter to the chairman of the New Zealand Producers Board. COMMERCIAL ITEMS WELLINGTON STOCK EXCHANGE YESTERDAY’S BUSINESS AND PRICES At the afternoon call yesterday sales were .reported of Huddart-Par-ker ordinary shares at £3, cum. dividend; Wellington Woollen ordinary shares at £9, and Wilson’s Cement at 245. 94. There were no transactions recorded at the morning call. Gilt-edged securities were in good demand at last week’s rates. Bank

shares were very quiet, and for the first time for many weeks there were no declared buyer* There were sellers of National Bank shares at £6 ‘"9s. Cd., Bank of New South Wales shares at £37 17s. 6d., Bank of New Zealand shares at £2 17s. 3d., and Union Bank shares at £l4 4s. The share's of financial companies were firm and unchanged N.Z. Loan and Mercantile ordinary stock were in demand at £B5. Gas shares were quiet, with tho quotations unchanged. Insurance shares were in good demand. There were buyers of National Insurance at £3 15s. 6d . New Zealand Insurance at 285., South British Insurance at 375. 3d., and Standard Insurance at 335. 9d. Gear Moat shares were firm at £2 Is 3d. Huddart-Par-ker ordinary shares were steady at £2 19s. 9d., cum. dividend. Woollen and coal shares were quiet and unchanged. There were buyers of Newton King, Ltd., preference shares at 17s. 6d., and Wairarapa Farmers’ preference shares at 16s 6d. Yesterday’s buying and selling quotations were as follow —

CUSTOMS REVENUE COMPARISON OF FIGURES Tho Customs revenue collected in New Zealand during the year 1922, amounted to £5,431,402, as compared with £5,671,715 an 1921 The revenue collected at the several ports shows as under:— 1922. 1921.

Totnl N.Z. 5,431,402 5,671,715 There is a shrinkage of £240,313, equal to a little over 4 per cent. Last year the North Island contributed a little more than 68 per cent, of the total Customs revenue. The revenue obtained from the spirit duties amounted to £646,558, against £914,600 in 1921: from tobacco, £714,974, against £493.039; cigarettes, £455,554, against £438,162; goods ad valorem, £2,827,364 against £2,944,070: primage, £307,442 against £372,684: and dumping, £24,386. The dumping duty-is imposed on goods imported from countries having a depreciated currency. METROPOLITAN BUILDING SOCIETY ANNUAL MEETING The thirty-second annual meeting of shareholders of the Metropolitan Permanent Building and Investment Society was held at the rooms, Lambton Quay, last evening. The chairman of directors (Mr. W. Mackay) presided over a good attendance. In moving the adoption of the annual report and balance-sheet, the chairman congratulated the society on its satisfactory position. The profits were such that the directors had no hesitation in recommending that a dividend of 7 J- per cent, be paid, with a bonus of 1 per cent. The profit, after payment of dividend and bonus, and transfer of £lOOO to reserve, will 1 then stand at £lB,OOO, and there would be £1249 3s. sd. to carry forward to next year. The steady strengthening of reserves ggve increased security to- shareholders and depositors. Owing to the high cost of building, a very conservative policy had been adopted. Practically in every case, a portion of every advance had been placed on the table, which safeguarded the society in the event cf a. further fall in prices. The sum of £22,000 had been advanced on freehold security, and B shares, totalling £11,500. had matured and been paid to shareholders. The funds invested in tliis popular class of share were £BBB more than last year. Fixed deposits totalled £72,417, an increase of slightly more than £2OOO. It was pleasing to note that the society still hold the confidence of depositors, due to the fact that it had not sought relief under the Mortgages and Deposits Extension Act. They were now in their thirty-third year, and the directors had every confidence that the successes of the past would be maintained in the- future. The report expressed regret at the death during the year of two members of the board—Messrs, W. M. Hammy and G. R. N. Wright. The report and balance-sheet wore adonted. The retiring directors, Messrs. .Tames Marchbanks, M.lnst., C.E., and T. Sliai’er Weston, and the auditors, Messrs. O. G. Kombor and G. 0. Sutton, were re-elected. Tim chairman announced that the dividend on A sJisrcs would he pavable at the sometv’s office to-dav. Tn reply to a question, he stated that ; the question of increasing the capital

| on these shares had been discussed by < the directors, but no action had yet been definitely decided upon.

MINING NEWS WELLINGTON SHARE MARKET Tho following quotations were recorded in the mining market yester- ’ Buyers. Sellers. £ s. d. £ 6. d. Waihi 18 0 18 6 AUCKLAND STOCK EXCHANGE BY TELEGRAPH. —PRESS ASSOCIATION. Auckland. March 19. Buyers. Sellers. £ «. d. £ s. d-

STOCK EXCHANGE. BY Telegraph.—Press Association. Auckland, March 19. Sales.—New Zealand Inscribed (1938). £97 Bs. 6d.. £97 55.: Bank at New Zealand, 575.; Union Bank. £l4 6c.: Auckland Gas, 255. 9d.; Kauri Timber. 27b. 9d.; Moanar taiari. 3s. 7d. .... . , r . Christchurch. March 19. Sales reported.—Commercial Bank (4 ner cent. pref.). £6 195.! Union Bank. £l4 Is.; South British Insurance. £1 17a. 9d.: Goldsbrough Mort, £2 5a.; New Zealand Refrigeratingl (iOs. paid). 14s. 3d. Sale.—Union Bank, £l4 ,Ib. . Dunedin, March 19. 'Sale—New Zealand Paper Mills. 255. (three parcels); Wilson’s Portland Cement. 245. 6d. Reported sale: Donaghy’s Rope and Twine. 325.

Buyers. £ a. d. Sellers. £ s. d. 4J p.c. Insc. Stock, 1939 97 0 0 44 p.c. Inso. Stock, 1938 97 0 0 97 7 6 54 p.c. Inso. Stock, 1933 - — 100 15 0 44 p.c. War Bonds, 1941 97 (1 0 4J p.c. War Bonds, 1939 9* 0 0 —— 4i p.c. War Bonds. 1938 97 0 0 —m 4j p.c. War Bonds, 1930 97 0 0 MM 5 p.c. P.O. Bonds. 1927 97 7 6 MM 5 p.c. P.O. Ins. 8tk„ 1927 97 7 6 MM BANKS— 6 9 6 New South Wales .... MM 37 17 6 New Zealand. 2 17 14 4 3 MM 0 FINANCIALAbraham and Williams 4 5 0 Dalgety and Oo 12 5 0 Nation! Mortgage N.Z. Loan and Merc. — 4 0 0 (ord.) 85 0 0 MM N.Z. and River Plate 1 1 6 MM Well. Investment 0 9 4 MM Well. Trust, Loan GAS5 14 0 Napier (£10) 10 2 6 MM Ditto (£5) 6 1 6 Mm Wellington (fractional INSURANCE— 0 5 8 National 3 13 8 MM New Zealand 1 8 0 MM Sonth British 1 17 3 MM Standard MEAT FREEZING1 13 9 — N.Z Refrigerating (IOS.) Gear M 6 14 6 2 1 3 . — Well. Meat Exp. (£5> — 4 12 6 Ditto (£3 12s. 6d.'> ... I 2 6 TRANSPORT— lluddart-Parker (c.d.), (ord.) 2 19 91 3 0 9 Union Steam (pref.; ... 0 19 .0 WOOLLEN— Kaiapoi (ord.) — 1 4 3 Kaiapoi (contrib.) Wellington (pref.) /... 0 12 9 5 0 0 COAL1 16 9 — rm HER— Faringamiitu MISCELLANEOUS1 11 0 — National Electric 1 1 3 1 2 0 Newton King (pref.) .... N Z. Drug (C.u.) 0 17 0 M— 2 18 9 MM H tin ria nd and Oo Wairarapa Farmers* 1 1 9 MM n is 6 - ■ Wiiaon’a Cement 7. 1 4 10

Auckland Wellington. ... Napier Wanganui .... Other N.I. ports £ 1,734,677 1,530,888 129,125 99,097 153,213 £ 1,757,131 1,689,888 149,870 112,921 162,613 Total 3,697,000 3,872,423 Lyttelton 824.515 866,415 Dunedin 623,284 640,055 Bluff 106,576 117,341 Timairu 55,201 66,082 OtherS.I. ports 124,826 109,399 ' Total 1,734,402 1,799,292

BANKS- t 6 x Commercial (prei.) National New Zealand . 617 6 2 16 9 13 18 0 6 10 2 17 14 3 0 0 0 INSURANCE— 3 14 0 New Zealand 1 8 6 1 8 9 1 17 3 1 17 9 1 13 9 FINANCE— 12 10 0 — ■ Goldsbrnuph Mort 2 4 0 —. River Plate 113 1 2 0 N.Z. Loan, Mercantile 85 0 0 9t 0 0 COALHikuraniri 0 13 3 —— Tauri pi 10 3 — Ditto (pref.) 1 13 6 1 14 6 Westport 1 16 9 Westport-Stockton (pre!,) 0 8 6 GASAuckland 15 9 Ditto 'contrib.l 1 5 6 Gieborne 0 13 0 SHIPPINGDevonport Ferry 15 3 1 5 Huddart-Parker 3 0 0 Northern •• 0 13 9 Ditto (contrib.) 0 6 6 0 7 0 Union (pref.) 0 19 9 — • TIMBERBartholomew 0 16 0 1 0 fl Kauri 17 6 1 8 0 Leyland-O’Brien 1 16 0 Parker-Lamb 14 0 1 5 0 WOOLLENKninpoi Ha. 4d. ' paid: 0 It 3 8 17 6 9 2 fl Ditto (pr«f.) 8 7 6 miscellaneous— Abraham n n d Williams —— 4 IS 0 Auckland Trams 12 3 — Ditt. P-nref.) 0 19 0 Burna-Philp 1 11 6 By croft 10 0 Gear Meat 1 19 0 N.Z. Drue 1 18 0 (Samoa) ... 0 10 0 Milne and Choyce (debonturn stock) 1 3 0 1 4 0 Ditto (new fsnuel ....... 12 3 1 3 0 Newton King (nref.) 0 17 6 —— N.Z. "Kxnrrfls Co 0 14 3 0 16 fi Home Builders 0 14 6 0 15 n Milk Products 1 « 0 N.Z. Rcfrit’erating (rontrib.i 0 14 0 0 14 6 Cement ,14 3 1 < 6 MINING1 Mo&nataiari 1 17 6 1 17 0 P’sinp Sun (contrib.)... 0 0 6 0 1 0 Waihi 1 8 3 1 8 6 Grand Junction. 0 8 6 0 t 9 Mount Tivoli 15 0 DEBENTURES— Auckland Ga«. 1929 ... M00 ■»* An"k’and TTurb.. 55 p.c. 98 0 0 — D’tto 6 per cent. ... 04 0 0 Ditto ner cent. ... — 96 0 0 Mv of Auckland, 1949 07 0 0 — Ditto 1943 98 0 0 — M *0 0 100 0 0 Gfflborne Sheenfarmerai 'T 14-nolrrv T.A*H,n 10110 0 102 10 0 W*R LOANS— Won Loa" 1930 0-0 0 —• Ditto, iw 97 0 0 — Ditto, totq 97 0 0 Ditto 1041 v; m 0 — Ditto’. JW 07 12 6 — fj-z. Tne— ’b«d Sth.. 1927 97 10 0 T»m o . 19 T 9 —— 07 5 n Pdrid*! 00 0 0 jni 5 n T»Ht,n (inscribed) 1923 —- 1M1 15 n Ditto, 51 per cent. ... — 97 5 0