FARMING & COMMERCIAL

Dominion, Volume 18, Issue 55, 29 November 1923, Page 10

FARMING & COMMERCIAL

NEWS AND NOTES

AUCTION SALES FORTHCOMING FIXTURES. TO-DAY. Sates will bo held at: — 111 Hill Street,, Wellington, 10 a.m.— Sale of Furniture (E. Johnston). Pahiatua, 11 a.m—Annual Cattle Fair (Wairarapa Fanners). Wnikanae Yards, 1 p.m.—Stock sale. Upper Hutt, 1 p.m.—Stock sale. 22 Hawker Street, Wellington, 1.30 p.m. Sale of Furniture (E. Johnston). Palmerston North, 2.30 p.m.—Sale of City property, on account Supreme Court (Mounsey and Co.). Palmereton North —Sale of sections, account Foxton Harbour Beard (Mounsey and Co.). TO-MORROW. Feilding Yards, 9.30 a.m.—Sale of Highclass Blood Stock (Abraham and \VUStreet, Wellington, 10.30 a.m. Salo of Mr. Jensen s Furniture (E. Johnston). SATURDAY. 88 Ross Street, Lyall Bay-Sale of Fumi- , tore (Vine and Wilsono) "Tho Manor House,” Haywards—l.3o p.m.—Sale of Mr. W. H. Georges House Furnishings (E. Johnston). 15 Heretaunga Street. Petone, 1.30 p.m. —Sale of Mrs. Clark’s Furniture (Vine p.m-Sale of Sections A.watea Subdivision (S. G. Nathan).

FARMING INTERESTS

WOOL MARKET KEEN COMPETITION AT WANGANUI SATISFACTORY RANGE OF VALUES By Telegraph.— Press Association. Wanganui, November 28. Ths opening wool sale of the season in Wanganui was held to-day with a very strong bench of buyers, there being representatives present of Great Britain, tho United States, Canada, France, Belgium, Italy, Japan, Germany, and other European countries. Following on the satisfactory range of values established at Christchurch, Wellington, and Auckland, a good sale had been anticipated here, and the results to-dav did not belie the anticipations. Bidding was strong and keen, Continental and Bradford operatois competing for the many lots of Continental types of wool in the various catalogues. Franco and Italy were eager for pieces, and the former for any good quality lambs, American operators were present, but there were few linos which fitted their requirements. The sale was quite up to Wellington parity, taking the quality into consideration. 'Low crossbreds were somewhat better than at Wellington, and lambs were Id. higher. Hogget wool was in particularly gcod demand, and sold as usual at enhanced prices as compared with the fleece wool in the same clips. Comparing to-day s prices with either March or May this year, the following changes are noted: Fine crossbred, 46-48, advanced ljd. to IJd.; medium crossbred, 44-46, advanced IJd. to 2Jd.; coarse crossbred, 40-44, advanced 2d.; low crossbred, 36-40, advanced 2d. to 21d. Following is the range of prices:— March To-day’s

Messrs. Dalgety and Company, Limited, report the first Wanganui wool sale of the 1923-24 season was held yesterday, the attendance of buyers being the largest ever recorded at a local sale. With the exception of Dominion mill buyers—who require the finest of wools —every other section of

the trade was keenly interested, Continental, Bradford, Australian, and Japanese buyers operating with the greatest keenness at rates fully up to those recorded at Wellington and Auckland. The American section of the trade were small buyers, as the majority of tho parcels offered were hardly the style and quality required for that country. At the moment even for super Romneys both Bradford and Continental operators appear to hold better limits than America, and this is quite the opposite position to that which ruled last season. If America iq going to secure her usual requirements of the best North Island Romneys she will have to come on the •niirket during December and January, as after those dates only few super lines will be offered, and the condition of the wool will be heavier. The result of tho sale would be most gratifying to all growers,. and, further, the pronounced appreciation in medium and coarse crossbreds will be received with the utmost satisfaction throughout the North Island, which is the home of the crossbred 'sheep. So far this season the Continental demand has done much to stiffen up prices; the French section has also been particularly active when wools suitable for their trade have been offered. In Australia last season when the price level was at its peak and choice wools were making record figures the bulk of the high-priced wools went to France. Tho textile industry in that country has shown a wonderful recovery and gives promise of continued expansion. Belgium has. also continued the erecovcry which was a marked feature of last season, and Italy has maintaina much bigger factor at the Dominion sales than in the pre-war days. Bradford is always a pillar of strength at Dominion sales, and whether the market is weak or strong,' is a buying power whose competition is indispensable.

The greatest interest was evinced in yesterday’s sale, the attendance of growers throughout the district being large. The offerings totalled about 13,700 bales, composed mostly of medium and low crossbreds, with a small proportion of good to super Romneys. A fair proportion of old wool—fleece, crutchings, lambs, bellies, and piece.’ was catalogued, and some of these suffered by the stale appearance. The whole sale was marked by confidence and keenness of bidding, all classes of crossbreds being eagerly competed for. with extreme rates for good, clean bulkv bellies and pieces, which principally went to Australia and France, The Continent and Bradford were keen opponents, the bulk of tho fleece wool offered being secured between these two. Japan and Italy competed freely and took a fair quantity of wools suitable for tho trade. Local scourers generally found prices beyond their limits and were only small buyers. The outlook for an excellent sale had the effect of stopping growers from hampering their brokers with excessive reserves, and this wise decision allowed heavy clearances to be made nt auction, passings being vtry few. Crossbreds have now reaohoj a point beyond the most sanguine expectations. and wool growers who are not satisfied to accept, present ruling rates are more of speculators than sheep farmers. The rapid and phenomenal increase in price of crossbreds is difficult to oxplain, but is certainly evidence of the restoration of tho wool textile business on the Continent and affords proof of the progress made with the reconstruction of the textile industries in these centres. Wool is certainly not in over supply and the possibility of enlarging stocks rapidly cannot be looked for. We have on many occasions commented on the unsatisfactory “get up” of many clips sent forward for sale, and it is regrettable that same growers of really good wools still persist in adopting slip-shod methods and make no attempts at classing or skirting. Unsatisfactory auction results with loss of money will, we hope, our catalogue, our top price of 17d. beeventually force such owners to alter their present methods. At time of writing the sale is still in progress, but from prices already recorded, rates for all classes of wool offered are well up to last Wellington prices, in some cases, especially in tho medium and low crossbreds, rates could be quoted slightly in seller’s favour. Without doubt, to-day’s sale 'can be recorded as the best ever held in Wanganui, and we sincerely hope that the present firm tone ruling will continue during the remainder of the season. We had a few. super lines in our catalogue, our tprice of 17d. being obtained for a nice line of soft handling lustrous Romney hoggets on account of Messrs. Hume and Mcßae, On acdount lof same growers we made 14Jd. for three bales super crossbred pieces. , Other sales were as under: — Lambs.—H/LL, 4 hales lid ; JHY, 5 bales, 12 pl. ; JF conjd.. 3 bales. 12Jd.: Annbank. 3 bales, IAJd.; FJ Mcß,.’3 bales, 15V1 - Bellies and Pictes —JO/Alton. 5 bales, llid. : Glenwarlock, 5 kales. 11 Id.; HM/TE Mere. 3 bales, 14}d.: Puao, 4 bales, 9Ad.; JO/Alton, 3 bales. Hid.; JF conjd.. 10 bales, 9Jd.; Otoia, 3 bales, B}d. Southdown. —JR.T/M, 7 bales. 19Jd. Fine/ Crossbred. —HM/TE! Mero, o bales ewes, 14}d. ; edcliff. 3 bales hoggets, 16Jd’; JO/Alton. 10 bales A, W. MB conjd , 4 bales ewes, 13d.: THW. 5 bales hoggets, laid.; do. 13 bales ewes, 121 d.: HBD/Glenw L'lock, 13 bales ewes. 16d. ; OCT, 11 bales ewes, ]2?d.; CAH, 7 bales hoggets, 14R1.; Puao, 14 hales hoggets, 14id.; 8 bales ewes, 12Jd.; JO/Alton, 6 bales hoggets. 14|d. ;14 bales wethers, 15d.; JF conjd., 13 bales hoggets. 14Jd ;. d°-> 98 bales ewes and weth&rs, 1 -Id.: ABC, 3 bales ewes. 14Jd.; do., 4 bales hoggets, 13d.; Ann Bank. 14 bales ewes, 13d.; FJ. Mcß., 4 bales hoggets, 141-d. • do., 13 bales. 13id.; JRTIM, 6 bales hoggets, 12Jd.; Rcdcliff, 10 bales ewes, 12|d. Medium and Coarse Crossbreds.--Manganui. 5 ewes. 9d.; Pukepapa, JO Lincoln, 9?,d.; JO/Alton, 7 crossbred, 121 d.; 03/KAK, 8 crussbred, 12d.; do., 3 crossbred, U|d.; THW, 3 crossbred, 12d ; do., 20 crossbred ewe, lid.; LAM, 6 crossbred. 10*d.; MOO, 6 hoggets, 113 d.; MOO, 6 ewe, IOJd.; Glenwarlock’. 7 ewes, 12|d ; OZ/W, 8 hoggets, lid.; CT, 5 crossbred, lOd.; FN/R. 10 crossbred. lOd.; THET, 4 ewes, lid.; NZR Co., 11 crossbred, ll|d.; DML, 17 crossbred, llid.; DML, 11 crossbred ewe, 101 d.; DD. 4 crossbred, 10Jd. ; 03/M, 5 ewes, 10d t ; WI-IS, 6 ewes. IOJd.; JAY, 28 crossbred, IOJd.; do., 26 Romneys, lljd.; GUI, 3 hoggets, 103 d.; do 6 ewes, 121 d.; Ailsa, 13 ewes, llid.; Puao, 29 wethers, J2Jd.; JO/Alton, 4 Lincolns. 12d.; do., 6 Lincoln.! rams. 9Jd.; H/NZ, 50 crossbred, JlJd. ; J J conjd., 15 ewes, 103 d.; do., 11 wethers, lid.; ABC, 7 wethers, Hid.; Annbank, 18 ewes Hid. ; Annbank, 11 crossbred. 103d.’; FJ Mcß., 7 ewes, l'2iJd.; Otoia, 7 ewes, lid.; do., 3 hoggets lO^d.; WS/O, 8 crossbred, llld.; Redefine, 4 ewes, lid.

dairy control board SUPPORT FOR COUNCIL’S TICKET. Br Telegraph—Press Association. Masterton, November 28. Separate ineetings held to-night of tile IVairarana Provincial Executive of the Farmers’ Union and of representatives of dairy companies in the Bush and Wairarapa districts, unanimously decided to support the ticket nominated by the Dairy Council. ADDINGTON STOCK MARKET Br Telegraph—Press Association. Christchurch, November 28. At the Addington market to-day the entries vf stock were of average sise for this time of year. Store Sheep.—Ths yarding was practically all wethers just off the shears, onlv ' a couple of pens of ewes and lanibs being sent forward. The most forward wethers sold well at hits rates, but other sorts were cheaper. Vendors met the market, with tlie result that practically the offering changed hands. Good 2-tooth wethers and hoggets made 20s. to 215.; ior wethers and hoggets, 17s to 18s., woolly 2-tooth wethers, 235. Id.; forward’4 and 6-tooth wethers, 2<s. lid. to 305.; small 4 and 6-tooth wethers, 21s 9d. to 225. 6d.; aged ewes and lambs, 16s. Hd., all counted; aged woolly ewes and lambs, 16s. 7d., all Lambs—A yarding of 420, compared with 533 last week. The quality generally was good, and the sale was satisfactory. Prices showed an advance of about 2s per head the average price per lb. Extra prime lambs made 335., prime 295. 6d. to 325., medium 275. 6d. to 295. ; light, 2457 6d. to 275. Fat Sheep—Eight races came forward. mostly shorn. The market opened bri"hter for wethers, ewes bein rt much the same as at the previous sale, but generally speaking there was no quotable chance in values, frimest wether mutton made up to 7d. per lb - , but the greater part of it averaged 61d. to 6Jd., unfinished stuff being a trifle lower. : Best ewe mutton fetched 6}d., and lower grade realised from 53d. to 6d. Extra prune wethers made 365. to 39s /d„ prime 325. 6d. to 355., medium 295. 3d. to 3 s. 3d , light 265. 6d. to 28s. 9d. Extra prime ewes, 31s. 3d , and a few special 355. 9d.; prime. 275. fid. 9 *• medium, 255. to 275.; light, 20s. 6d. to 245. 9d.; old, 18s. to 20s. Fat Cattle—4l3 head were forwarded, compared with 374 last week. The market opened at prices well below those ruling last week, and at the close of the sale prices were weaker than at the beginning. Heavy cattle were £2 per head lower han last week, and medium and lighter sorts from £1 to £1 ss. Best beef sold at from 30s. to 325. per 1001o ‘? P r, g"} e >. 28s. to 295.; medium, 265. to 275. 6d., and inferior grades down to 1.7 s W. Extra prime steers realised £l7 ; prime, £l3 to £l5; medium, £lO to £l2 los.; light, £5 15s. to £9 10s. Extra prime heifers, £11; prime, £8 to £9 os., ordinary, £4 15s. to £7 10s.; extra prime cows. £lO 2s 6d.; prime £4 15s. to £6 155.; ordinary, £4 los. to £6 15s. , i-i. Veal«rs.—A moderate entry, which sold at better prices than'last week. Runners made £6 ; £5; medium calves, £1 los. Io £3 os., small. 10s. to 255. Store Cattlo!.— Owing to the dty weather, competition was not keen tor store cattle, and prices were accordingly lower than was the case last week. Three-year-old steers made £6 15s. to £7 10s.; 2-year, £3 to £3 15s. Tno-year-old heifers, £2 15s. to £3 os.; Urlings, £1 15s. to £2. Good cows, £1 15s. to £2 ss. „ Dairy Cattle.—The entry was smaller than hast week, consisting of o 7 head. Best springing cows made to 10s. ; best springing heners, £o to £9 10s.; inferior sorto, £l. Fat Pigs.—A slack demand was experienced, and prices were lower than has been the case this season Choppers made £2 to £4 10s.; light baconers, 575. 6d. to 655.; heavy, 70s. to 80s.; extra heavy. 90s. (average puce Per lb. 6d. to 6Jd.); hght porkers. 455. to 50s. ; heavy, 525. to 565. (average price per lb., 7}d. to (kL)- . Store Pigs.—A medium-sized entry, but the demand! was not keen M ean--IXII morin 12s to 245.: small stores, ors made izs. , 225. to 265. ; medium, 30s. to dbs., large stores, 455.

JOHNSONVILLE FAT STOCK SALE

Messrs. Wright, Stephenson and Co., Ltd., and Abraham and Williams, Ltd., in conjunction, report on their Johnsonville fat stock sale, held yesterday. A limited yarding of both sheep and cattle was offered, the quality of most of the sheep was inferior, although a few good pens came forward the quality of the beef was good. A fairly brisk sale resulted, being well ahead of last week’s sale. Quotations :—Best wethers, 295. Id., 30s. 3d., to 325. 3d., light sorts, 245. to 255.-ewes, good, 24s 3d to 255. ; light, 18s.; lambs, 9Kr’ 9d. '27s. 6d.. to 28s. : best ox, £9 2s 6d., £9 10s., to £lO 2s. 6d.; good £8 55.. £8 10s., £8 17s. 6d ta £9 ■ light, £7 7s. 6d.; vealers, small, 23s 6d. 245„ 31s„ 345., 355., to £2 7s.

CATTLE DISEASE IN WEST AUSTRALIA

DIAGNOSIS NOT COMPLETED. Perth, November 28. The diagnosis of the cattle disease is still incomplete. Since the outbreak 25 animals have died or have been destroyed, the deaths numbering about sixty. The quarantined area is practically denuded of cattle. _ P Ml tho States are adopting strict precautions io prevent the introduction of cattle or any parts of animals from West Australia.—Press Assn.

COMMERCIAL ITEMS

WELLINGTON STOCK EXCHANGE YESTERDAY’S BUSINESS AND PRICES Sales of 51 per cent. Inscribed Stock. 1933, at £lOO 10s., 5 per cent. P.O. War Bonds, 1927, at -£97 las.. South British Insurance shares at 385., and N.Z. Drug shares at £3 65., reported at the afternoon call, were the only transactions recorded yesterday. There was continued evidence of a slackening tone, for there were comparatively few bids. For the 5.} per cent, stocks and bonds £lOO ss. was offered, and for 5 per cent P.O. Bonds, 1927, £97 15s. was bra. There

ware buyers of Devonporb Borough 6 I>er cent, debentures. 1936, at £lO2, Bank of New South Wales shares at £39 15s. cum dividend, N.Z. Loan, and Mercantile ordinary stock at £BO, National Insurance at £3 15s. 6d. Gear Meat shares were firm at £2 Is. 9d., and Huddart-Parkor ordinary shares at £2 Is. 6d. Timber shares were steady with buyers of Kauri Timber at 285., cum dividend, and Leyland O’Brien Timber shares at 395., cum dividend. There were buyers of Australian Glass ordinary shares at 28s. ftl., Crown .Brewery at £2 16s. 6d., Howard Sniitii shares at £2 11s., N.Z. Paper Mills at 21s. 6d. and Sharland and Co’s shares at 225. 3d. Waihi siiares were firm at 28s. 9d. Yesterday’s buying and selling quotations were as. follow:—

SALES IN OTHER CENTRES Br Telegraph—Press Association. Christchurch, November 28. Sales reported: Manning's Brewery. 255. 3d.: Union Bank. £l4 17s. 6d. Sales: Beath and Co.. 325. 9d.: Glenmore Brick and Tile, 21s. Auckland. November 28. Sales: Soldiers’ Bonds. £lOO 10s.; New Zealand Inscribed Stock (1927). £97 155.; New Zealand Insurance. 2Es. 9d.: Waipa Coal, 17s. 3d.: Waihi. 295.. 295. 3d. Dunedin, November 28. Sales: Waihi, 295. Sales reported: Waihi. 295. (two parcels): Bank of New Zealand, 575. 3d.: BrownEwinc (ord.). 295. 6d. DAIRY PRODUCE MARKET THE POSITION TO-DAY ■ — Some of the Dominion’s new season’s butter has reached London market and business has been done in this new butter at 210 s. per cwt. equal to about Is. Bjd., f.o.b. Wellington. Australian butter should he reaching the market in some volume now. In November last year the nnports of Australian butter into the United Kingdom amounted to 49H cwt., against New Zealand’s 1487 cwt., but this vear Australian shipments have been' smaller owing to . the severe drought experienced »n .manv of the dairying districts. It is difficult to see where supplies are coming from to compensate for this shortage unless Argentina and New . Zealand manage to make up the deficit. What South America is likely to accomplish this season is as yet an unknown factor, but in any case the market is likely to remain firm until Christmas time. A new situation has arisen in respect to butter, owing to the inquiries received from the United States. During the past few days tentative inquiries for butter have been received from New York, but .it is doubtful whether the inquiries will materialise in business being done. The New York merchants are asking for quotations c.i.f. New York. January and February shipment, payment to be made in American currency. Exporters are not prepared to do business on those terms, and have asked for credits to be established in New Zealand, as they are not prepared to accept the risks of a variation in the exchange. Whv New York should want supplies in February and March when it may be expected that supplies will be available from various States, and/ probably from Canada cannot be understood unless the New Zealand butter is intended for re-exnort te Britain as a speculation in view of the Empire Exhibition. At the present time cheese dominates the manufacturing side in New Zealand, but the dual plants can rapidly change to better when necessary. Cheese is meeting with a very firm market just now. WAIHI SHARES. Aus.-N.Z. Cable Assn. (Rec. November 28. 10.15 p.m.) London, November 27. Waihi shares, buyers 295. 4d., sellers 30s. Id. SOUTH AUSTRALIAN AND TASMANIAN LOANS. Aus.-N.Z. Cable Assn. (Rec. November 28, 10.15 p.m.) London, November 27. The South Australian and Tasmanian loans have been largely oversubscribed, and might have been closed on Monday, but were kept open till to-day for tho benefit of country subscribers. LONDON WHEAT CARGOES. Aus.-N.Z. Cable Assn. (Rec. November 28. 5.5 p.m.) London, November 27. Wheat cargoes are easier and inactive. A part cargo of 2000 tons by an Australian steamer to Ireland sold nt 455. per quarter. Parcels are in poor request;' at 3d. per quarter decline. RISING PRICE OF SUGAR. (Rec. November 28. 5.5 p.m.) London, November 27. Sugar, granulated, 61s. ljd. per cwt. CUSTOMS REVENUE. Customs revenue collected at the port of Wellington yesterday totalled £8905.

prices. prices. d. d. d. d. Corrledale 174 — Southdown 20 to 24J 194 to 234 Pine xbred. 46-48— •Super 1U to 141 154 to 17 Average 104 to 131 111 to 15 8 to 10 10J to Hi lied, crossbred, 44-46 — Super 114 to 122 14 to 154 Av era pre 9 to 111 112 to 132 Inferior 6 to 84 9 to 103 Coarse crossbred, 40-44 Super 92 to 104 — Average 72 to 10 ica to 12 Inferior 6 to 7* 8 to 104 Low crossbred, 36-40— Pupor 84 to 94 7i to 9 10 to 114 Inferior 6 to 71 84 to 92 Hnergets, 48-50 154 to 18 9 to IS 134 to 16 Medijirn, 44-46 8 to 104 121 to 13 Coarse. 40-44 8 to 94 10 to 121 64 to 74 91 to 104 Lr> mbs— Down, 50-60 121 to 144 18 to 184 Fine. 44-50 9 to 134 16 to 172 Medium, 40-44 8 to 104 104 to 13 Seedy and inferior 4 to 9 4 to 94 Bellies and pieces— Crossbred, t'ood-supei ■ 74 to 101 10 to 14 Crossbred, low-med. 4 to 7 8 to 94 Tiocks 2 to 4 3 to 51 Crntchings— Medium to Eood ... 54 to 7 7 to 8 Inferior to seedy... 3 to 5 5 to 7

Buyers. Sellers. WAR LOANS- £ s. d. £ s. d. 4J p.c. Insc. Stk., 1939 — 97 0 0 p.c. Insc. Stk., 1938 97 0 0 p.c. Insc. Stk.. 1933100 5 0 — bh. p.c. War Bonds. 1933 100 5 0 — 5 p.c. P.O. Bonds. 1927 97 15 0 98 0 0 DEBENTURES106 0 Wellington Gas — 0 N.Z. Breweries — 102 0 0 Eastbourne Borough, bi 106 7 p.c., 1952 Devonport Borough, 6 —• b 103 0 p.c.. 1936 , 102 0 0 0 BANKS6 17 National — 6 New South Wales (cum.) 39 15 0 —— New Zealand (old issue) — 2 11 6 Union —- 14 18 0 FINANCIAL,N.Z. L---an and Merc. (ord.) 80 0 0 83 0 0 Well. Trust. Loan — 5 18 0 GASWellington (£10) — 14 2 6 Ditto 'pref.) 0 16 9 —— INSURANCE3 15 National 6 —— MEAT PRESERVING— N.Z. Refrigerating (£1) —— 1 3 6 Ditto !10s.) Gear 2 1 » 0 11 2 2 1 Well. Meat Exp. £3 4.2s. 6d.) —— 2 2 0 TRANSPORT— Huddart-Parker (ord.) 2 1 0 2 1 b P. and O. def. stock ... 310 0 0 COAL1 18 West port Waipa 0 17 0 0 TIMBER— Kauri (cum.) 1 8 0 Leyland-O’Brien (cum.) 1 19 0 • — MISCELLANEOUS— Australian Glass (ord.) 1 8 6 Burns-Philp —- 1 13 b Colonial Sugar 50 10 0 Grown Brewery 2 16 b — Farmers’ Co-op. Au<; 0 18 tioneering (pref. “A’ ) — 6 Gates, Ltd — 0 18 9 Howard-Smith 2 11 0 2 12 6 National Electric — 0 19 0 N.Z. Paper Mills 1 1 6 1 2 6 Sharland and Co 1 2 3 —— Wairarapa Farmers’ (pref.) «— 0 17 3 MINING— Waihi 1 8 9 1 9 9