FARMING & COMMERCIAL

Dominion, Volume 16, Issue 224, 9 June 1923, Page 10

FARMING & COMMERCIAL

NEWS AND NOTES

AUCTION SALES FORTHCOMING FIXTURE#. TO-DAY. Dominion Avenue, Wellington, 10.30 a.m. —Sale of furniture (Vine and Wilson). 127 Cuba Strjot, Wellington, 10.30 u.m.— Stock in trade (C. T. Sullivan). Otairi Yards, 1 p.m. Sale of Sheep (Abra ham and Williams). TUESDAY.Chamber of Commerce, Wellington, 2.30 p.in.—Sale of property (Thompson, Brown, and East). "Waitapu” Cheltenham, 12 noon-bale ot cattle (Levin and Cp.). Levin YartLs. noon—Sheep sale. FARMNG INTERESTS THE MEAT TRADE POSSIBILITIES IN THE EAST. Dr Telegraph.—Press Association. ' Christchurch, June 8. At the North Canterbury Fanners’ Union conference to-day, Mr. D. Hall moved: “That the conference express its approval of the work of the Meat Board.” Mr. G. Sbeat emphasised the possibilities of trade with the and read a letter from Mr. J. W. Collins (Secretary of the Department of Industries and Commerce), which detailed its activities in that direction. FT a moved as an addition to the resolution: “That the board investigate the possibilities of trade with the East and other places.” The addition was approved. Mr. David Jones said that tne board had information as to the East and that beef and mutton in Manchuria rarely went over 3d. per lb. That placed New Zealand in an unfavourable position. New Zealand was also handicapped by lack of shippinp:, compared with Australia. Ino position might be different with regard to tinned meats, but there did not seem very great prospects for placing New Zealand meat in the East. At all ports a good deal of meat was unloaded. So far as the navy , and armv were concerned, the Argentine had had that trade for a long time, but Australia and Now Zealand had approached the British Government on the subject. One New Zealand firm had secured a contract and the board had been successful in obtaining some of the recognition they should have had years ago. . The resolution was carried.

N.Z. MEAT PRODUCERS’ BOARD WEEKLY PRICES OF FAT STOCK FOR EXPORT. The New Zealand Meat Producers Board advises that the fouowmg prices are being offered, Juno 7, .or fat stock for export:— Auckland.—Wothers 641 b. and under, 5Jd.; prime woolly lambs, 4zlb. and under. BJd. , Poverty Bay.—■Wethers 641 b. and under, bid.; prime woolly lambs, 42 b. and under Bjd., 431 b. and over /Jd.; second quality lambs, 7Jd. Hawke’s Bay.—Wethers. 641 b. and under 5Jd.; prime woolly lambs, 421 b. and under 9d., 431 b. and over Bd.; second quality lambs, Bd. Wanganui.—Wethers, 641 b. and under sid.; prime woolly lambs, 421 b. and under 9d., 431 b. and over Bd.; second quality lambs, 8d Wellington.—Wethers, 641 - and under, ’3d.; prime fi-oolly lambs, 42ib. and under 9d., 431 b. and over Bd.; second quality lambs, Bd. Canterbury.—Wethers, 641 b. and under 61d.; prime woolly lambs. 421 b. and under, lOd.; second quality lambs, 9M. Southland.—Vvethers, 561 b. and under, 6d.; prime woolly lambs, 421 b. and under, 9Jd.j second quality lambs, BJd. LONDON FROZEN MEAT MARKET Messrs. Dalgety and Company. Limited, report having received the following cablegram from their London house, under date June 7: — Quotations New Zealand prime crossbred lamb: Canterbury, heavy 10-Jd., light Hid. : North Island, heavy light ioid. : demand for New Zealand lamb continues, prices firmer. Now Zealand prime crossbred mutton: Canterbury, heavy 6Jd., light 81d.; North Island, heavy 61d., light 73-d,; demand for New Zealand mutton better, prices firmer. ‘New Zealand prim© ox beef: Hinds 4*d.. fores 25d. ; demand for New Zealand beef fair; prices weaker G.A Q. crossbred lamb: Aus™alian, heavy BJd., light 9d.; mutton,

heavy 5d., light,,ssd.; demand for Australian lamb better, mutton fairer. Owing to increased supplies, chilled beef prices have declined more or less to the level of a few weeks Good oualitv frozen veal: Australian, 4Jd. to 41d. per lb.” Messrs. M. A. Elliott and Co., Palmerston North, have received cable advice from Messrs. Gilbert Anderson and Co.. Ltd., London, of the following Smithfield prices for the week ending Juno 8. These prices are on the delivered basis, that, is, included storage charges, cartage, etc: —North Island prime down lambs, U-36 HJd., 36-42. HJd., 42-50 IOJd.; best North Island prime crossbred lambs, U-42, lid.; ordinary North. Island lambs, U-42, 104 d., second quality, U-42, lOd. * best North Island wethers and/or maiden ewes. 48-56, BJd., 56-64 7jd., 64-72, 6Jd.; ordinary North Island wethers and/or maiden ewes, 48-56 Bd., 56-64 7}d.. 64-72 6}d. ; North Island ewes, U-64, 5Jd.,'64-72, 5d., 0-72, 4Jd. New Zealand prime ox boef (equal fores and hinds), 160-220, 3?d. Remarks: —Down lamb, no change, other lamb, par to id. higher. Wethers, Jd. to id. higher. Ewes, id. to id. higher. Beef, no change.

WOOL MARKET PRICES OF BRADFORD TOPS. (Rec. June 8, 8.15 p.in.) London, June 7. The Bradford tops market is verydull. Sixty-fours are quoted at ss. Id. per lb; sixties, 4s. Bd.; fifty-sixes, 35.; fifties. 2s. 3Jd.; forty-sixes. Is. 6d.: forties. Is. 4d.—Aus.-N.Z. Cable Assn. The New Zealand Loan and Mercantile Aerencv Company, Limited, have received the following cablegram from their London house under date June 7—“ June wool sales will include arrivals up to June 4. The Cumberland, Port Elliott. Bembridge, Otaramu, Mahana, Armagh, Pakeha. and Port Adelaide will be available.” NEW ZEALAND BUTTER CHEAPER IN LONDON THAN MELBOURNE. (Rec. June 8, 7.30 p.m.) ‘ Melbourne, June 8. There is considerable comment here on the fact that New Zealand butter is quoted in London at Jess than Is. 5d a pound, whereas in Melbourne the quotation is 25., and the price in the shops 2s. 4d. to 2s. 5d. —Press Assn. LONDON BUTTER AND CHEESE MARKET’. (Rec. June 8, 8.15 p.m.) London, June 7. Butter is in firm demand and is improving in price. , Choicest New Zealand. 1565.. and for exceptional lots, 158 s. per cwt. Australian choices_t is scarce, ard is quoted at 148 s. to 1505., and for exceptionally good, 1525. per cwt. Cheese.—New Zealand, 88s. to 90s. per cwt. —Aus.-N.Z. Cable Assn.

FRUITGROWERS’ CONFERENCE NEXT WEEK The annual conference of the New Zealand Fruitgrowers’ Federation will open on Wednesday next, and will probably last for three days. Delegates will attend from all parts of the Dominion. ' Amongst the subjects set down for consideration are local markets. distribution, advertising, standardisation. and the establishment of a Fruit Export Control Board. The Hon. W. Nosworthy. Minister of Agriculture, will open the conference. LONDON DAIRY PRODUCE MARKET Messrs. Dalgety and Company. Limited, report having received the following cablegram from their London house, under date June 7 : —“Butter: Market firm owing to scarcity of offerings. We quote: New Zealand, salted. 1585.; finest Australian, salted. 1525.. unsalted 1525.: Australian good average quality, 1325. Cheese: Market very quiet. White. 905.; coloured. 88s.: Canadian 0.1. F. price, 865.”

COMMERCIAL ITEMS WELLINGTON STOCK EXCHANGE YESTERDAY’S BUSINESS AND PRICES A sale of 5 per cent. P.O. Inscribed Stock, 1927, at £9B 7s. 6d., was reported at yesterday morning’s call. At ths afternoon call a sale of Crown Brewery shares at £2 Ils. was made on ’Change, and the sales reported were 5} per cent. Inscribed Stock, 1033, at £lO2, 5 per cent. P.O. War Bonds, 1927, at £9B 7s. 6d., Bank of New Zealand shares at £3 Is. 6d., cum dividend, and Wellington Woollen, preference shares, at £9 2s. 6d. For the 5i per cent. Inscribed Stock, 1933, buyers reduced their bids bv 2s. 6d. to £lOl 17s. 6d. Other gilt-eclged securities were unchanged. Bank of Australasia shares were Is. 6d. higher, with buyers at £l3 145., and Union Bank shares were ffyn at £l4 15s. Shares of financial companies were firm without any quotable change in values. Gas shares were very firm. Napier Gras shares, £lO paid, were 2s. 6d. higher at £lO 12s. 6d., and Wellington Gas shares were also 2s. higher, with buyers at £l2 7s. There were buyers of National Insurance shares at £3 18s., and Standard Insurance at 38s. 6d Meat shares, were quiet and neglected. HuddartParker, ordinary shares were a shade higher at £2 4s. 3d. There were no changes in woollen, coal or timber shares. There were buyers of Crown Brewery shares at £2 95., Ward and Co. Brewery' shares at £2 3s. 6d., and Wilson’s Cement shares at 265.

Yesterday’s buying and selling quotations were as follow :—

SALES IN OTHER CENTRES

Bt Telegraph.—Press Association. Christchurch, June 8.

Sales reported: Bank of New South Wales £4O: Union Bank. £l4 165.; HuddartParker. £2 4a. 3d.; Waihi. £1 6s. 9d„ £1 7s. (two parcels). Sales- Union Bank. £l4 165.: Kauri Timber (cum div.). £1 10s.: New Zealand Farmers' 00-op. (£2 paid), 165.; Electrolytic Zinc (pref.), £1 Ua. 6d. Auckland, June 8.

Sales- Wnr Loan. 1930. £97 10*.; Bank of New Zealand, 625.. 61s. 9d.: Northern Steam, 14b. Bd.: do. (oontrib.). 7b. 2d.: Waihi. 275. 6d 275.. 275. 3d.; Grand .Tnn-tion. 7s. 6d. Dunedin, June 8. Roles- Bonk of Australasia, £l3 155.; Waihi. 275., 275. 3d. Sales renorfed: Westport-Stockton (ord.). ss. 10d.: Manning’s Brewery, £5 155.: Bank of New Zealand, 61s. 9d.

EXCHANGE BATES. Atm.-N Z. Cable Assn. (Rec. June ,8. 8.15 n.m.) London, June 7. Foreign rates of exchange on June 7, as compared with par -rates, or as averaged first half of 1914, are as follow:— June7.Tune4 Par. New York. dols. to £1 4,621 486 2-3 Montreal, dols. to £1 4.721 3,731 4.86 2-3 Paris, francs to .£1 ... 71.65 72.10 25 2®3 Stockholm, knr. to £1 17.36 17...5 13.1.59 Christiania, knr. to £1 27.70 27.35 18.159 Conenhagen. knr. to £1 2.5 43 Berlin, marks to £1 .... 363,030 330.000 22.43 Rome, lire to £1 9 P ? Yokohama, nenco to yen 25% 24.43 Calcutta,, pence to rupee 163 163 ?5 Hong-Kong, pence to dol 273 273 25 ' COLONIAL A wr > OTHER PRODUCE. Anq.-KI.Z. CIP.T.V! A®W. , (Rco. June 8, 8.15 p.m.) London, June 7. Wheat cargoes are firm at 6d. per quarter dearer, in sympathy with an advance in America and good consumptive demand. Steamer parcels are in fair request, at prices 6d. per quarter higlwr. Spot trade is quiet. Australian ex store. 555. 6d. - Flour meets with fair inquiry. Australian, 365. to 375. 3d. Oats are in fair demand. A grade Gartons on spot. 375. to 38s. fid. Barlev is inactive. New Zealand malting, on spot, 435. to 465. Peas are slow of sale. New Zealand maples. 90s. to 955.; blues 3205. to 3405.: Tasmanian, 3405. to 400 s. Beans are quiet. New Zealand, 51s. to 535.; Tasmanian, 3405. to 400 s. , „„ ~ , Sugar, granulated, 635. IJd. per cwt. MELBOURNE-, PRODUCE MARKET. Br Telkoraph.—Press Association. —oonrMGHX Melbourne, June 8. Barley. 4s. per bushel. Oats, 3s. Bd. to 3s. 9d.. Potatoes, £9 to £lO per ton. Onions,. £4 to £4 ss. Competition at the hide sales was slightly irregular. The market generally ruled Id. per lb. lower on previous sales, and notably on lights ana stouts. Hides with substance were unchanged. WAIHI SHARES. Aus.-N.Z. Cable Assn. (Rec. June 8, 8.15 p.m.) London, June 7. Waihi shares, buyers 235. 9d.. sellers. 265.

Buyers. Sellers. £ I. . d. £ ». d. WAR LOANS— 4J p.c. Insc. Stock, 1939 — 97 15 0 b*> p.c. Insc. Stock, 1933 1(11 17 « 44 p.c. War Bonds, 1939 — 57 15 0 54 p.c. War Bonds. 1933 102 0 0 5 p.c. P.O. Bonds. 1927 98 5 e fi p.c. P.O. Insc. Stock, 1927 98 5 0 BANKS— Australasia. 13 14 0 ■ 6 15 0 New Zealand (cum) ... 3 2 0 Union 14 15 0 — FINANCIALGoldsbrough Mort 2 8 6 — National Mortgage ... 4 1 0 — Well. Trust, Loan 5 16 0 — GAS— Auckland (paid) 1 6 6 —— Gisborne (0,11m) 0 13 6 — Napier (£10) 10 12 6 — Wellington (£10) 12 7 0 — INSURANCENational 3 It 0 —— Standard — i ia «

MEAT FREEZING— N.Z. Refrigerating: 1 5 6 0 13 7 TRANSPORT- , . , Huddart-Parker (ord.) 2<3 Do. (pref.) Northern Steam (paid) IGO 0 14 6 — WOOLLENKaiaooi (ord.) — 14 3 ■■ * (1 12 0 WeUiu'gto'n (pref.) 9 1 6 9 3 0 COAL1 18 6 1 19 3 Westport-Stockton 0 4 9 Do. (pref.) 0 8 6 ■ " .0 17 3 TIMBER-Leyland-O'Brien 1 16 6 — Tarincamutu 1 12 0 MISCELLANEOUS0. M. Banka (ord.) 12 6 Crown Brewery 2 9 0 2 12 0 Manning and Co — 6 0 0 Wairarapa. Farmers (pref.) 0 16 9 Ward and Co 2 3 6 2 7 0 Wilson’s Cement 1 6 0 W. M. Bannatyne & Co. — 18 6 Gisborne Sheepfarmers Pub. 101 0 0 —-