FARMING & COMMERCIAL

Dominion, Volume 16, Issue 183, 21 April 1923, Page 10

FARMING & COMMERCIAL

NEWS AND NOTES

AUCTION SALES FORTHCOMING FIXTURES. TO-DAY. Dunedin —Sale of Clydesdales, both sexes. (Wright, Stephenson and. Co., O‘ago Farmers' Co-op.). 2G Contts Street, Kilbirnie, 2 p.m. —Furniture sale (Vine and Wilson). Cycle Quay, Wellirgto.i, 2.15 p.m. —Sale of unclaimed dogs (Wellington City Council). MONDAY. Matarnwa —Sale of live stock (N.Z. Loan and Mercantile Agency Co. Ltd.). Awahuri, 11 a.m.—Furniture sale (Mounsey and Co.). Shannon Yarcis, 1 p.m.—Stock sale. Dominion Avenuei, Wellington, 2 p.m.— Sale of carpets (Vine and Wilson). TUESDAY. Awahuri, 11 a.m.—Furniture sale (Mounsev and Co.). 15 Ellice Street. Wellington. It a.m.— sale of bootmaker's plant (Vine and Wilson). , r Mangahao Yards, 1130 a.m. Autumn cattle fair. (Wnirarnpa Farmers’ Coop Association, Ltd.). Levin Yards. 12 noon-Sf;ck sale. 154 FeaHie’'sK>n Street, UePiigrnn, 1.30 p.m.—‘Furniture* sale (J. H. Bethune and Co.). 15 Ellice Street. Wellington, 1.30 p.m.— ’ Furniture sale (Vine ml Wil'on). 154 Featherstcn Street. -A elh n’rtcn. 2.30 p vp —Propertv sale (J. H. Bethune and Co.). ' farming interests , ROYAL SHOW LONDON FROZEN MEAT MARKET Messrs. Levin and Co.. Ltd., havn received ilio following cablegram from their London agents, dated April 19:— “Quotations New Zealand prime Canterbury lamb, 28 to 421 b., lid; North

Island lamb, 28 to 421 b., lid.; primo Canterbury mutton, 56 to 641 b., 73d.; North Island mutton 66 to 64 lb., 73d.; ewes, 48 to 641 b., 5Jd. No beef offering. Market dull with very little business doing. As compared with last week’s quotations Canterbury lamb, North Island limb, and Canterbury mutton are jd. per lb. cheaper; North Island mutton. Jd. per lb. cheaper; dwes, id. per lb. cheaper. Messrs. Al. A. Elliott and Co., Palmerston North, have icecived cable advice from Alessrs. Gilbert Anderson and Co., Ltd.. Ixmdon of the following Smithfield prices for the week ending April 20. These prices are on the “delivered” basis, that is, including storage charges, cartage, etc.—North Island nrimo Down lambs, under 361 b., ll|d., *36lb. to 421 b. lljd., 421 b. to 501 b. Hid.; best North Island prime crossbred lambs, under 421 b.. ll{d.; ordinary North Island lambs, under 421 b., ibid., second quality under 421 b. 93c1.; best North Island wethers and-or maiden ewes, 481 b. to 561 b., BJd., 561 b. to 641 b. Bd., 641 b. to 721 b. 6|d.; ordinary North Island wethers and-or maiden ewes, 481 b. to 561 b. B}d., 561 b. to 641 b. 7jd., 641 b. to 721 b., 6|d.; North Island ewes, under 641 b., sd. Remarks. —Lamb, par to Id. lower; wethers, :;d. to |d. lower; ewes, Id. lower; beef, no quote. Alarket is becoming more depressed on account of very poor demand. Alessrs. Dalgety and Company, Limited, report having received the following cablegram from their London house under date April 19: —“Lamb. —New Zealand prime crossbred lamb, Canterbury heavy, lid.: Canterbury light, 11|d.; North Island heavy, 10}d.; North Island light, lid. Demand for New Zealand lamb runs principally on finest qualities, prices weaker. Mutton. —New Zealand prime crossbred mutton, Canterbury heavy. 61d.; Canterbury light, 5Jd.: North Island heavy, 6-jd.; North Island light, 5Jd. Demand for New Zealand mutton limited, prices, weaker. Beef. —New Zealand prime ox beef hinds. 4|d.; fores, 3?d. Demand for New Zealand beef nil, prices nominal. Australian Frozen Meat. —Good average quality crossbred lamb, Australian heavy, Bd.; light, 9id. Demand for Australian lamb runs principally on finest qualities. Good average quality crossbred mutton, Australian heavy, sd. ; light, sjd. Demand for Australian mutton poor. Best South American chilled beef selling at: hindquarter. 5d.; forequarters, 24d.; inferior quality Jd. to Id. less.” WOOL MARKET MORE INQUIRY FOR CROSSBREDS AT BRADFORD. (Rec., April 20. 7.55 p.m.) London, April 19. The Bradford tops market is firm, with more inquiry for crossbreds. Fiftysix’s 36|d. per lb.; fifties, 27d.; forties, 16Jd.; other sorts are unchanged. —Aus.-N.Z. Cable Assn. BUTTER AND CHEESE SLUMP IN LONDON.

(Rec. April 20. 7.55 p.m») London, April 19.

Butter has slumped badly owing to the almost complete cessation of demand. Holders have kept lowering prices in the hope of effecting sales, but buyers, having apparently plenty for requirements, held off hoping for further reductions. The bulk of Australian and New Zealand arrivals have been placed in cold storage, which are now over-crowded. The demand for Danish from Germany and America quickly ceased, with the result that Danish is freely-offered here down to 1655. to-day. Quotations are: —Choicest N?w Zealand, 1485.. to 1505., per cwt; Australian, 140 s. to 1425. ; unsalted about 2s. to 4s. premium. At these prices some business is being done, but the market is very nervous. Cheese also has slumped. New Zealand, 100 s. to 104 s. per cwt.; Australian nominally 96s. —Aus.-N.Z. Cable Assn.

Messrs. Dalgety and Company, Limited, report having received the following cablegram from thi'ir London house under date April 19:—“Butter market looks as if it has touched bottom, but at present there is practically no demand. Market 13 steady at present prices. We. quote New Zealand salted, 150 s. (1725. j ; Australian good average quality, 1.405. (160 s. Danish, ISOs. (188 s. : finest Australian salted and unsalted, 1465. (1665.) Cheese.—Market still declining. White, 106 s. (1285.) ; coloured, 108 s. (1325.) _ Last week’s quotations above are given in parentheses.”

N.Z. MEAT PRODUCERS’ BOARD

WEEKLY PRICES OF FAT STOCK FOR 'EXPORT

The New Zealand Meat Producers’ Board advises that the following prices are being offered, April 19:— Auckland. —Wethers, 641 b. and under, s}d.; prime woolly lambs, 421 b. and under, B}d. Poverty Bay.—Wethers, 641 b. and under, s}d.; prime woolly lambs, 421 b. and under B}d., 431 b. and over 7jd.; second quality lambs, 7sd. Hawke’s Bay.—-Wethers, 641 b. and under, s}d.; prime woolly lanibs, 421 b. and under 9d., 431 b. and over Bd.; second quality lambs, 8dWanganui.—Wethers, 641 b. and under, 51a-; prime woolly lambs, 421 b. 9d., 431 b. and over Bd.; second quality, lambs, Bd. ; prime ox beef, 20s. per 1001 b.; heifer beef, 17s. 6d. i>er 1001 b.; cow beef, 15s. per 1001 b. Wellington.—Wethers, 641 b. nnd under, 5Jd. ; prime woolly lambs, 421 b. and under 9d., 431 b. and over Bd.; second quality lambs, 8dCanterbury.—Prime woolly lambs, 421 b. and under, 9}d. ; second quality lambs, B‘}d. Southland. —Wethers, 561 b. and under, 6d. ; prime woolly lambs, 421 b. and under 9d., 431 b. and over B}d.; second quality lambs, B}<l.

SALE OF PEDIGREE CATTLE AT RUAKURA The Farmers’ Co-op. Auctioneering Co., Ltd., Hamilton, report:—On Wednesday, April 18, at the Government Farm, Ituakura, we conducted their fourth annual sale. The first animal led into the ring, the bull calt by Dominion Prince D_aphne of Weraroa, from Dominion Aladam of Weraroa, ran to 60gns. under keen competition. Of the 31 bull calves catalogued 23 were sold, the best making from 40 to 60 gns., the whole lino averaging 32igns. Peculiarly, the top price for in-calf liciiers was identical with that of the bulls, namely, 60gns. for the rising 2-year heifer of Dominion May of Ruukura. Of the 19 heifers 13 were sold, making from 20 to 60 gns., the lot averaging 30Jgns. Brisk competition ruled for pigs, the boars making from 3 to 11 gns.; young sows, 4 to 13 gns., sows in young 9 to 13} gns. Although all the lots of the different breeds of poultiy did not bring the upset value, 53 crates were sold, pullets making ss. to 125.. cockerels 5s to 165., drakes 7s. to las., ducks 7s. 6d.

C.OMIBERCIAL ITEMS WELLINGTON STOCK EXCHANGE YESTERDAY’S BUSINESS AND PRICES Sales of 5 per cent. P.O. bonds at £97 10s. and Bank of New Zealand shares at £3 2s. were reported at the afternoon call yesterday. There were no transactions recorded at the morning call. Buyers repeated their offers of £97 ss. for the-4} per cents, and £97 10s. for the 5 per cents. The 5} per cents, were unchanged at £lOO 15s. Bank shares were unchanged, except Bank of New Zealand shares, which were in demand at £3 Is., a rise of 6d. since the previous, day. Gas shares were unchanged, with a continued demand for Auckland, Gisborne and Wellington gas shares. Insurance shares were in strong demand at the previous day’s rates. Shipping shares received attention. New Zealand Shipping preference shares were in demand at £9 ss. There were no changes in the quotations for woollen, coal and timber shares. Glaxo debenutres were 10s. higher, with buyers at £BB 10s. Yesterday’s buying and selling quotations were as under: — Buyers. Sellers. £ s. d. £ s. d.

MINING NEWS WELLINGTON SHARE MARKET The following quotation was recorded in the mining market yesterday : — Buyerx. Sellers. £ s. d. £ s. d. Waihi 18 6 — STOCK EXCHANGE. BY TELEGRAPH.—PBESS ASSOCIATION. Auckland, April 20. Bales—New Zealand Government Inscribed War Loan, 1938. £97 2b. 6d.; Mt. Eden Debentures. £lO3 10s.: Bank of NewZealand, 615., 61b. 6d.; Taupiri Coal, 215.; Auckland Gaa (con.). 265.; Huddart-Parker, 416 3d.; Kauri Timber, 275.; Moanataiari, 3a • Waihi 29b.; Grand Junction. Bs. 2d. sb., wain. Christchurch, April 20. Salos reported—Bank of New South Wales, £3B (two parcels); Bank of New Zealand. £3 Is. 6d.; Canterbury Frozen Meat, £l5 155.; Beath and Co., £1 10s. 6d. Sales—Bank of New Zealand. 31s. 6d. (three parcels): Goldebrough Mort. £2 6s. 6d.; New Zealand Refrigerating (£1 paid), ss ’ Dunedin, April 20. Sales—Huddart-Parker (ord.), 41a.: National Bank, £6 145.; British Insurance 38b 3d.; Howard Smith, 515.: Westport Coal, 405.. 395. lid. (two). 395. ICd., 395. 9d (two); New Zealand Paper Mills (old issue), 255. 9d.; Waihi 28s. 6d 28s. 9d.. (two), 29b., 29b. Id.. 29a 28s. 6d„ 2Ss. Id. Sales reported.—Bank of New Zealand, 61s. 3d. (two). CUSTOMS REVENUE. Customs revenue colected at the port of Wellington yesterday totalled £6906.

WAR IOANSd.c. Insc. Stock. 1939 97 5 0 — 44 D.c. Insc. Stock, 1938 97 5 0 97 12 6 54 d.c. tasc. Stock, 1933 100 15 0 — d.c War Bonds, 1939 97 5 0 — 44 d.c. War Bonds. 1938 97 5 0 — 54 d.c. War Bonds, 1933 100 15 0 —— 5 D c. P.O. Bonds, 1927 97 10 0 97 15 0 5 n.c. P.O. Insc. Stock. 1927 .. 97 10 0 — BANKS- .. 6 13 National 6 — New Zealand ..3 1 0 Union ,, — 14 9 6 FINANCIAL0 10 Wellington Invest 0 Well, Trust Loan ,. 5 !5 0 — GASAuckland (paid) 1 4 9 1 5 3 Christchurch. — 8 0 0 Gisborne .. 0 13 6 — Wellington (ord.) .. 11 15 0 12 0 0 Ditto Debentures . 105 5 0 — INSURANCE— .. 3 17 National 6 — New Zealand — South British .. 1 18 0 —- Standard . 1 15 6 — MEAT FREEZING— Gear .. — 2 6 0 Well. Meat Ex. (£5) . — 4 12 0 Ditto (£3 12s. 6d.) .... — 3 0 b TRANSPORT-Huddart-Parker (ord. ) 2 0 9 2 1 6 Ditto (pref.) . 1 0 0 — N.Z. Ship. Co. (pref. ) 9 5 0 — Union Steam (pref.) .. . 1 0 0 — WOOLLENKaiapoi (ord.) 1 3 9 Ditto (con.) — 0 11 7 COAL0 15 Ilikurangi (pref.) . 0 13 6 0 Westport-Stockton (pref.) 0 8 6 Waipa .. 0 17 0 —— TIMBER— . 1 12 Taringamutu 0 — MISCELLANEOUSCrown Brewery .'2 2 6 —■ Den. and Med. Supply 1 3 0 •— D.I.C. (pref.) . 1 0 0 — Gates. Ltd . — 1 4 b Manning and Co — 5 0 0 National Electric . — 1 1 6 N.Z. Drug . 3 0 0 — Ward and Co — 1 17 0 Wellington Cordage . —— 1 2 3 Wilson’s Cement ..16 0 1 6 4 DEBENTURES- .. 88 10 Glaxo 0 — Cook County .. — 94 10 0 EXCHANGE RATES. (Rec. April 20, 7.20 p.m.) London, April 19. Foreign rates of exchange on April 19, as compaared with pai - rates i or as averaged first half of 1914, are as follow: — Apr. 19 Apr. 16 Par. New York. dole, to £1 4.655 4.65S 4.86 2-3 Montreal, dels, to £1 4.75% 4.76 4.86 2-3 Parks, francs to £1 ... 69.85 69.90 25.223 Stockholm, knr. la £1 W.45 17.50 18.159 Christiania, Itnr. to £1 25.95 26.00 18.159 Copenhagen, knr to £1 24.61 24.70 18.159 Berlin, marks to £1,... 133.000 98.000 22.43 Rome, lire to £1 ...... 935 93? 22.23.1 Yokohama, pence to yen 26 1-16 25.3 24.43 Calcutta, pence to rupee — 16 3-16 25 Hong-Kong, pence to dol. 28J 28% 25