FARMING & COMMERCIAL

Dominion, Volume 18, Issue 105, 29 January 1924, Page 10

FARMING & COMMERCIAL

NEWS AND NOTES

AUCTION SALES FORTHCOMING FIXTURES. TO-DAY. Sales will be held at: — Levin Yards, 12 noon—Sale of land, account Supreme Court (Abraham and Williams). Showgrounds, Taihape, 10 a.m. —Sale of Hiwi Romney Marsh Stud, account A. R. Fannin (Wright, Stephenson, and Co.). . Corner Bridge and Parliament Streets, Lower Hutt, 1 p.m,—Sale of furniture and motor cars (J. H. Bethune). 157 Lambton Quay, Wellington, 1.15 p.m.—Sale of unclaimed cargo (£•'. Johnston and Co.). 105 Customhouse Quay. Wellington, 2.30 p.m.—Sale of City property (S. G. Nathan). ... - 195 Lambton Quay, Wellington, 2.30 p.m.—Sale of Suburban land (Harcourt and Co.). TO-MORROW.-Hill Street, Wanganui, Noon—Sale of Mr. John Wilkie's Farm at Ore Ore (Dalgety and Co.). . 195 Lambton Quay. Wellington—Sale of house property (Harcourt and Co.). 105 Customhouse Quay, Wellington, 2.30 p.m.—Sale of residences and Karon building sites (S. G. Nathan). 52 Kent Terrace, Wellington, 1.30 p.m. —Sale of household furniture (Vine and Wilson). A. and P. Society’s Rooms, Perry Street, Masterton, 2.30 p.m.—Sale of land, instructions from Supreme Court. Chamber of Commerce, Customhouse Quay, Wellington, 2.30 p.m. —Sale of bungalow, etc., account Mr. A. Thurkettle (H. E. Leighton). THURSDAY. Corner of Cashel and Manchester Streets Christchurch, 11.39 a.m.—Sale of leasehold eftuate Hereford Street, Christchurch, account N.Z. Shipping . Co. (Pyne, Gould, Guinness, Ltd.). 131 Grant Road, Wellington, 1.30 p.m.— Sale of household furniture (G. W. Price). FARMING INTERESTS LONDON MARKETS HIGH COMMISSIONER’S CABLED REPORT The Department of Agriculture has received the following cablegram, dated J anuary 26, from the High Commissioner for Now Zealand, London Railway strike dominating factor, and market quiet, buyers holding back unless delivery is guaranteed. Official quotations are: Butter, Butter (slow), New Zealand, salted, finest: January 26, 2065. to 210 s. per cwt. (Is. lOd. to Is. IOJd. per lb.), exceptional 2125. per cwt. (Is. • IOJd. per lb.) : January 19, 208 s. to 2125. per cwt. (Is. IOJd. to Is. IOJd. per lb.); January 12, 2125. to 2145. per cwt. (Is. lOiJd. to Is. lid. per lb.), exceptional 2165. per cwt. (Is. Jly. per lb.). Unsalted: January 26, 210 s. to 2125. per cwt. (Is. lOld. to Is. IOJd. per lb.); January 19, 2125. to 2145. per cwt. (Is. IOJd. to Is. Hd. per lb.); January 12, 2165. to z!Bs. per cwt. (Is. lid. to Is. HJd. per lb.). Other qualities: January 26, 184 s. to 2045. per cwt. (Is. 7jd. to Is. 9Jd. per lb.). Australian. —Salted, finest: January 26, 200 s. to 2025. per cwt. (Is. 9-Jd. to Is. 9Jd. per lb.); January 19, 2025. to 2045. per cwt. (Is. 9|d. per Jb.); January 12, 2045. to 2C6s. per cwt. (Is. 93d. to Is. lOd. por lb.). Unsalted: January 26, 200 s. to 2045. per cwt. (Is. 9|d. to Is. 9?d. per lb.); January 19, 2045. to 2065. per cwt. (Is. 9Jd. to Is. lOd. ner lb.); January 12, 2045. to 2085., up. to 210 s. per cwt. (Is. 9jd. Is. 10id., to Is. IOJd. per lb.). Other qualities: salted, January 26, 170 s. to 198 s. per cwt. Js. 6Jd., to Is. 9|d. per lb.), unsalted 180 s. to 1965. per cwt. (Is. 7Jd. to is. 9d. per lb.). Argintine.—Finest: January 26, 178 s. to 182 s. per cwt. (Is. 7d. to Is. 7Jd. per lb.), exceptional 184 s. per cwt. (Is. 7}d. per lb.); January 19, 180 s. to 1845., up to 186 s. per cwt. (Is. 7Jd., Is. 7|d., to Is. Bd. per lb.); January 12, 180 s., 1865., un to 188 s. per cwt. (Is. ls. Bd., to Is. BJd. per lb.). Other qualities: January 26, 160 s. to 1765. per cwt. (Is. sd. to Is. 7d. per lb.). Danish. —January 26, 2165. up to 218 s. per cwt. (Is. lid. to Is. lljd. per lb"); January 19, 2205. to 2225. per cwt. (Is. lljd. to Is. 113 d. per lb.); January 12, 2225. to 2245. per cwt. (Is. llifd. to 2s. per lb.). Cheese. Cheese (firm). —English, Finest farmers: January 26, 1355. to 1455. per cwt. (Is. 2J<£ to Is. 3-Jd. per lb.) ; January 19 and 12, 1355. to 1455. per ’cwt. (Is. 2id. to Is. 3jd. per lb.). Canadian. —Finest and fine (slow) : January 26, coloured 1045., 110 s., up to 112 s. ner cwt. (lid., 113 d., to Is. per lb.); January 20, white, 1045., 110 s., up to 112 s. per cwt. (lid., 113 d., to Is. per lb.); January 19, coloured 104 s. to 110 s. per cwt. (lid. to 113 d. per lb.), white 104 s. to 110 s. per cwt. (lid. to 113 d. per lb.) ; January 12, coloured io4s., 110 s., up to 112 s. per cwt. (lid., 113 d., to Is. per lb.), white 104 s. to 110 s. per cwt. (lid. to lljd. per lb.). New Zealand. —Finest and fine; Jantiary 26, coloured 1025., 1055., up to 106 s, per cwt (103 d. lid,, to HJd. per lb.), white 102 s. to 104 s. per cwt. (10|d. to lid. per lb.); January 19,

coloured 104 s. to 106 s. per cwt. (lid. to HJd. per lb.), white i.o4s to 105 s. per cwt. (lid. to 11 Jd. per lb.); January 12, coloured 1025., 1045., up to wL jkr cwt. (103 d lid to 113 d. per lb.), white 102 s. to 104 s. per cwt. (103 d. to lid. per lb.). Hemp and Wool. Hemp—Manila market steady, and no business reported. Quotations for January-March shipments. £34 ss. to £34 10s. por ton sellers, and business has been done at those prices. New Zealand market continues quiet and cuotations nominally unchanged. * Wool. —Sales continue, demand still brisk, and prices on average higher for all descriptions. Apples, Apples. —Market firm, hut not advanced. Newton Pippin, 12s. 6d. to 14s. per case; Jonathan, 12s. bd. to 14si 6d.; King David, 12s. 6d. to 14s. 6d.; Spitzcnberg, 13s. to 15s, OTHER ADVICES The Bank of New Zealand produce department has received the following advice from its London office under date January 25: — Butter. —Slow, 2045. to 2065. per cwt. ; exceptionally, 208 s. per cwt. Cheese. —Slow. White, 102 s. per cwt.; coloured, 104 s. per cwt. Strike accentuates dullness of marFrozen Meat.—The market fur wethers has declined, and there is a very poor demand at present. It is thought that pa’i<|?s for ewes have reached the top. The demand for lamb is still poor. Ox beef is m better demand, but there is very little inquiry for cow. Wethers, light Bd. to 8 Id. per lb., heavy 6d. to 73d. per lb.; ewes, 53d. to 7d. per lb.; lambs, under 42’s 9Jd. to lid. per lb., over 42’s 9d. to 9Jd. per lb., seconds 9Jd. to IOJd. per lb., new season’s 12d. to 124 d. per lb., Australian 9|d. to I.o|d. per lb., Argentine 9d. to lOd. per lb.; ox hinds, 4d. to 4Jd. per lb.; ox fores, 3Jd. to 3Jd. per lb.; cow hinds,. 3|d. to 4d. per lb.; cow fores, 3d. to 3Jd. per lb. WOOL MARKET ADVANCE IN PRICES AT SYDNEY SALES. (Rec. January 29, 0.10 a.m.) Sydney, January 28. At the wool sales competition was keen, the market being very strong for lines showing fine quality, and values advancing 5 per cent. Greasy merino sold to 411 d. per lb. —Press Assn. The New Zealand Wool Committee has received the following cablegram, dated January 26, from the BritishAustralasian Wool Realisation Association, Limited, London: —“Sales opened Tuesday. Prices compared closing rates last London series. Merino, 5 per cent, to 7J per cent, dearer; crossbred, 15 per cent dearer. DUNEDIN WOOL SALE A GOOD OPENING By Telegraph—Puess Association. Dunedin, January 28. The second wool sale of the season opened to-night. Buyers were present fiom every country interested in the manufacture of woollen goods and competition was very keen. The total catalogues comprised about 25,500 bales. The quality was hardly up to the high standard of last season, but there was a large proportion of very useful wools and many lots of very superior quality. So far as the sale has gone prices are very satisfactory, in many cases exceeding expectations. The highest price was 31d. for first combing quarterbred. Merino wools did not meet such keen competition as the halfbred and quar-ter-bred s. STOCK SALES Messrs. Dalgety and Co., Ltd., Palmerston North, report having a fair yarding of both sheep and cattle at their Mangaweka sale on January 24. There was a good inquiry for lambs and a very fair clearance was effected. Quotations: —Cull lambs, 3s. 6d. to ss. Id. ; small lambs, Bs. 3d. ; good mixed shorn lambs, 14s. 7d. to 15s. 6d. ; good w.f. ewe lambs. 175.; yearling heifers, 28s. to 30s. ; 2-year heifers, £2 55.: empty cows, 225. 6d. to 305.: forward cows', £2; fat cows, £4 to £4 175.; 15-month steers, £2 45.; £4. Messrs. Dalgety and Co. Ltd., Palmerston North, report having a very good entrv of both sheep and cattle at their Feilding sale on'January 25.' Sheep showed an appreciable advance, while there was a keen rise in cattle. Quotations: Small lambs, 6s. Id., 6s. 10d., to Bs. 3d.; medium lambs, 10s. to Ils.; fair w.f. wcolly w'ether lambs, 135.; fair w.f. wooly ewe lambs 145.; w.f. lambs, good condition, 14s. 9d.; B.F. rape lambs, woolly, 17s. 3d. +0 18s.; S.M. ewes, good'condition. 19s.fat two-tooths, 245. lid. to 255. Sd.; fat lambs, 20s. 2d. to 245.; fat ewes, 21s. 5d., 225. lid., 245.; fat wethers, 275. 9d.; 15months P.A. heifers, 375. 6d.; 15months P.A. steers. £3 65.; two-year P.A. heifers, £2 15s. 5 two-year P.A. steers. £4j three-year P.A. steers, £4 75.; forward P.A. bullocks, £6 cs.; fat cows, £3 10s. to £4 55.; forward cows, 365. to 375. 6d. ; fat bullocks, £6 55., £6 145., to £7 18s. COMMERCIAL ITEMS WELLINGTON STOCK EXCHANGE YESTERDAY’S BUSINESS AND PRICES At the morning call yesterday a sale of Huddart-Parker preference shares at 20s. 9d. was reported. At the afternoon call the sales reported were 5 per cent. 'P.O. Bonds, 1927, at £97 10s. N.Z. Loan and Mercantile (ord.) £B4, and National Insurance shares at £3 18s. fid. Gilt-edged securities were again quiet, the demand being confined to the 5 per cent. P.O. Stocks and Bonds There were buyers of Bank of New Zealand shares at £2 10s., and Union Bank shares at £l4 18s. There were bids of £8 Is. cum dividend for Christchurch Gas shares, £3 18s. for National Insurance, 395. 6d. for South British Insurance, and £2 Is. 6d. for Gear Meat. _ Shipping shares were in fair demand with buyers of Huddart-Parker ordinary shares at £2 2s. 6d., preference shares at 20s. 6d., Union Steam preference shares at 19s. 9d., and'P. and 0. Deferred Stock nt £2BO. Timber shares were again very firm at late rates. There weie buyers of Crown Brewery shares at £3 Is. cum dividend, Wilson’s Cement shares

SALES IN OTHER CENTRES By Telegraph—Press Association. Auckland, January 13. Sales: Auckland Gas (contrib.).'3s. 5d.; Northern Steam, 155.; Waihi, 295. 9d. Christchurch, January 23. Sales reported: New Zealand Government 41 per cent. Inscribed Stock (1930), £96 IDs.; Bank of New Zealand, 50s. 3d. (four parcels); Crown Brewery (cum. div.). 61s. 6d. (two parcels). Sales: National Insuranco. 70s. 6d.: Manning’s Brewery, 275., 275. 3d. Dunedin. January 28. Sales: Huddart-Parker (ord.), 425. 6d. Sales reported: Bank of New South Wales, £4l; Waihi, 295. 9d.; New Zealand Drug. 655. 6d. POST OFFICE SAVINGS BANK EXCESS OF WITHDRAWALS Last year .the withdrawals from the Post Office Savings exceeded the deposits by £319,416, the deposits totalling £28,975,580. and the withdrawals £29,294,996. In three successive years the withdrawals have exceeded the deposits, the total of such excess for the three years being £2,020,036. The movements are best shown by taking the quarterly figures for each of the past three years. The figures are as under: — With- Excess of

28,975,580 29.294,®6 39v,415* *Excess of withdrawals. In the twelve quarters there were only three occasions when the deposits exceeded the withdrawals. The adverse showing corresponds with the disappointing features disclosed by the banking returns, and also by the trading returns. The amount at credit of deposits is bound to show an increase, as the interest on deposits amounts to about £1,650,000. On March 31, 1923, the amount at credit of depositors was £44,360,393. BANK OF NEW ZEALAND ELECTION OF A DIRECTOR Nominations to fill the vacancy on the Board of Directors of the Bank of New Zealand caused by the death c 1 the late R. W. Kane close on Ihursday next. So far as is known now, there will bo two candidates —Mr. J. II Gunson, Mayor of Auckland, and Mr R. W. Gibbs, who has been connected with the bank for the past 47 vears, the last four years as Government Auditor. Mr. Gibbs resigned the auditorship some weeks ago, but it is understood that ho will continue his duties to the end of the bank’s financial year on March 31, so as to Ims in a position to sign the balance-sheet. As soon as the nominations close voting papers will be sent to shareholders, wl?o are scattered over New Zealand, Australia, and the United Kingdom, and the results' will not be available until June, when the annual meeting will be held. The successful candidate will hold office for twelve months, the balance of the period for which the late Mr. Kane was elected. The Government will presently have to select a successor to Mr. J. 11. Upton ,who has intimated his intention of resigning from the, board at the end of the financial year, and also to a select a successor to the retiring Government Auditor. LONDON WHEAT MARKET. Atts.-N.Z. Cable Assn. (Rec. January 28, 0.50 a.m.) London, January 27. Wheat cargoes are firm on shipments of new crop from Australia, Argentine being scarcely up to expectations, while the firmness of freights is also a strengthening factor. Parcels are firm at 3d. per quarter higher, with small trade. CUSTOMS REVENUE. Customs revenue collected at Wellington yesterday totalled £7478. The lad, F. H. Free, who was killed bv a fall of a cliff at Mercer Bay, Auckland, was a nephew of Mr. Dunbar Sloane, of Wellington.

at £1 10s., and Waihi Mining shares at 29s. 9d. Yesterday’s buying and sellin g quotations were as under ■ Buyers. Sellers. WAR LOANS— £ s. d. £ b. d. 44 d.c. Insc. Stock, 1938 —— 97 0 0 66 D.C. Insc. Stock, 1933 101 15 0 5 p.o. P.O. Bonds, 1927 97 0 0 97 12 b 5 D.c. P.O. lune. Stk.. 1927 97 5 0 DEBENTURES— N.Z. Breweries 1 0 6 •— BANKS- ' 6 14 National —• 0 New Zealand Union 2 10 14 18 0 0 2 10 6 FINANCIAL— Well. Dep. and Mort. . — 0 9 6 (ord.) 82 10 0 84 10 0 Well. Trust. Loan 5 16 (oom.) — 6 Well. Dep. and Mort. 0 96 GAS— Christchurch, (cum.) .. 8 1 0 — Wellington, cum (£10) — 14 0 0 INSURA NCE— 3 18 National 0 4 0 0 New Zealand —— 1 11 0 South British MEAT PRESERVING— 1 19 6 0 11 N.Z. Refrig. (IDs.), cum. 0 — Gear 2 1 6 •—■ Well. Meat Exp. (£3 12s. 6d.l — 2 2 0 TRANSPORT— Huddzirt-Parker (ord.) 2 2 6 2 3 0 Do. (pref.) ........ 1 0 6 N.Z. Shipping; (pref.) .. — 9 10 0 Union Steam (pref.) . 0 19 9 1 0 6 P and 0. Def. Stock . 280 0 0 —— WOOLLEN— Wellington (rights) .... 3 10 0 COAL1 19 Westport — 9 Westport Stockton — 0 5 0 Waina 0 17 0 — TIMBER— i is Levland-O’Brien 6 Rotoiti 1 2 6 — Taringamutu 1 12 0 National 0 18 6 1 0 0 miscellaneous— Crown Brewery (cum.) 3 1 0 — Waira.ra.pa Farmers 0 17 (pref.) Wilson’s Cement •— 6 1 10 0 1 10 9 MINING— 1 10 Waihi 1 9 9 3

Deposits. draAvals. Deposits. Quarter. Min.r 1921 .... £ 7,893,359 £ 7.501,715 391,644 8.220,843 7.945,158 275.685 Sept., 1921 .. Dec., 1921 .... 7,631.891 8,087,725 455,834* 6,897,019 7,436.040 539,021* 30,643,112 30,970,638 327,526* Va/r , 1922 .... 6,376,244 6,767.307 391,063* 6.742,625 7,170 649 428 024* Sept, 1922 . 6902,755 6.948.683 45,928* Dec., 1922 .... 6,342,609. 6,850,688 508,079* 26,364,233 27,737,327 1,373,094* Mar 1923 .... 6.694.437 6.799.242 104,805* 7.635,031 7.094.447 540,584 Sept., 1923 .. Dec., 1923 6,818.734 7,827,378 7.116.024 8,285,283 297.290* 457,905*