FARMING & COMMERCIAL

Dominion, Volume 18, Issue 179, 23 April 1924, Page 10

FARMING & COMMERCIAL

NEWS AND NOTES

AUCTION SALES FORTHCOMING FIXTURES. TO-DAY. Sales will be held nt:— Levin Yards, 1 p.m.—Sale of Mr. It. Greig’s dairy herd (N-Z Loan and Mercantile Agency Co.. Ltd.). Dominion Avenue, Wellington. 10.30 a.m;.—Sale of electrical goods (Vine and Wilson). Johnsonville Yards. 2 p.m.—Stock sale-TO-MORROW. Old Bushy Park Homestead, near Kai Iwi. Wanganui. 10.30 a.m. —Sale of Stud Hereford Cattle account Mr. Frank Moore (Freeman E. Jackson and Co.). „ , County Council Office, Trafalgar St., Nelson. 2 p.m. —Sale of FlaxniiHjng and Sawmilliing Plant, -also cutting rights (Dalgety and Co.). Featherston Street. Wellington, —3O p.m.—Sale of sections at Knrehana Bay. Plimmerton Extension (J- ±l. Bethune). „ ... 105 Customhouse Quay, Wellington. 2.30 P.m..—Sale of sections and Groomed residence situate Bona x>ay (S. G. Nathan). SATURDAY. Lowe Street. Gisborne, 11 a.in.—Sale of Fairlie’s property known as Aard Motor Service of Gisborne, which includes all cars, coaches, and stock (F. Gray).

FARMING INTERESTS

LONDON MARKETS HIGH COMMISSIONER’S CABLED REPORT The Department of Agriculture has received the following cablegram, dated April 17, from th? High Commissioner for New Zealand, London: — Butter. Market steady, with fair demand for Easter holidays trade. Official quotations are: — New Zealand. —Sal tori, finest: April 1/, 1525. to 1545. per cwt. (Is. 4-Jd. to Is. 4Jd. per lb.); April 12, 150 s. to 154t>. per cwt. (Is. fjd. to Is. 4}d per lb.); April 5 150 s. to 1565. per cwt. (Is. 4{d- to Is. 4Jd- per lb.). Other qualities: April 17, 120 s. to 150 s. per cwt. (Is. Id. to Is. 4}d per lb.). Unsalted: April 17, 154 s to 158 s. per cwt. (Is. 4-Jd. to Is. sd. (per lb.); April 12, 1545. to 158 s. per cwt. (Is 41d. to Is sd. per lb.); April 5 1565. to 160 s. per cwt. (Is. 4Jd. to 16. SW. per lb.). Other qualities: April 17, 144 s to 1525. per cwt. (Is. 3|d. to Is lid. pct lb.). Australian. —Salted, finest: April 17, 138 s. to 140 s. up to 1425. per cwt. (Is. !2Jd. to Is. 3Jd. per lb.); April 12, 138 s. to 1425. per cwt. (Is. 2sd. to Is. 3 J «d. per lb.); April 5,140 s. to 1445. per cwt. (Is. 3d. to Is. 3Jd. per lb.). UnsaltKi.April 17, 1445. to 148 s. per cwt. (Is 3}d. to Is. 4d. per lb.); April 12, 1445. to 1465. per cwt. (Is. 3Jd. to Is. 3-. d. per !b ) • April 5, 1465. to 148 s. per cwt (Is. 3Jd to Is. 4d. per lb.). Other qualities, salted and unsalted: April 17, 11-s- to 1365. per cwt. (Is. to Is. per lb.). Market quiet. . _ Argentine.—Better demand April 17, ' 1345. to 138 s. per cwt. (Is. 2Jd. to Is. 2|d. per lb.); April 12, 1345. to, 140 s. per cwt. (Is. 2jd. to Is. 3d. lb-): April 5 1345. to 140 s. per cwt. (Is. -id. to Is. 3d. per lb.). Other qualities: April H 17, 116 s. to 1325. per cwt. (Is Ojd. to Is. B 21<1. per lb.). ■ , g Danish.-Market slow. April 17, 1695. Ji to 170 s. per cwt. (Is. 6Jd. P er . A pr ." d 12, 170 s. to 1745. per. cwt. (Is. fid. to ■ Is. 6jd. per lb.); April 5,170 s. to 1745. per cwt. (Is. frld. to Is. 6£d. per lb.). Cheese. Market quiet, but steady. Official quotations are: — English.—Finest farmers: Market firm. April 17, 140 s. to 148 s. per cwt. (Is. 2d. to Is. 4d. per lb.); April 12, 14ps. to 1455. per cwt. (Is. 3d. to Is. 3 a d., per lb.); April 5,140 s. to 1455. per cwt. (Is. 3d. to Is. 3Jd. per lb.). New Zealand—Finest and fine: April 17 coloured, 83s. to 84s. per cwt (9d. per lb.), white, 83s. to 84s. per cwt. (9d. per lb.); April 12, coloured, 82s. to 84s. per cwt. 83d. to 9d. per lb.), white, Bfs. to 84s. per cwt. (BJd. to 9d. per lb.); April 5, coloured. 84s. to 88s. per cwt. (9d. to 9Jd. per lb.), white, 84s. to 86s. per cwt. (9d. to 9,’d. per Io.). Austral’an. —Finest and fine: Market quiet. April 17, coloured. 76s to 80s. per cwt. (Bd. to BJd. per lb.), white, 76s to 80s. per cwt. (Bd. to 8..t1. per lb ); April 12, coloured, 765. to 82s. per cwt. (Bd. to B’d. per lb.), 'white 765. to 80s. per cwt. (Bd. to 8«1. per lb.). Shipments of New Zea'and -produce arrived this week per s.s. Cornwa-1.

Hemp and Wool. Hemp—Manila market opened firm, but closed quite steadily. J grade, AprilJune shipments sold at 1 i ton and buyers. New Zealand market continues qiiiet. High-points quoted at 4)37 per ton for April-June shipments, ft WoM.-On S acw-unt°of Easter holidays, Bradford market quiet, but values being maintained. Prices for tops: 64s (merino), 65.; 56’s (super haUbred), 4s. M , 4d’s prepared (coarse crossbred), -s. 3Jd. Apples. Whole of Corinthic consignment, with the exception of some Cox s Orange, are in isplqndid condition, and show little or no signs of defect. Market overstocked with American and Australian sorts, in consequence great difficulty is experienced in selling. Prices are very low. At Liverpool auction yesterday Tasmanian sold for 7s. Reports do not indicate that buyers are anxious to commit themselves at present. New Zealand prices for Cox’s Orange are 18s.; bulk. 165.; others unsold. S.S. Cornwall arrived, holding shipments until Tuesday. Separate advertising campaign, operating; Australian, all around, 12s. to 145., except Cox’s Orange spotted, 12s. to 17s. The following cable message has been received by the Bank of New South Wales from its London office, dated April'l7:—Wool: Market firm; unchanged. Frozen meat: Wethers, 5Jd. to 73d.; market declined, poor demand; ewes, 41-d. to 6d.; little better demand; lambs, 9d. to IOJ-d.; fair demand; beef, no quotation; ipork, 6d. to 7-Jd. Dairy produce: Butter, 1525.; cheese, fife.; both quiet, steady. The Bank of New Zealand produce department, has received the following advice from its London office under date April 17:—Butter: Quietly, steady, 1525. per cwt.; exceptionally, 1545. per cwt. Cheese: Quietly, steady. 84s. per cwt. Frozen meat: The market for wethers has declined, and the demand is very poor at present. Ewes are in little better demand. There is a fair demand for lambs. No quotations for beef. Wethers, light, 63d. to 73d. per lb.; wethers, heavy, 51d. to 63d. per lb.; ewes, 41d. to 6d. per lb.; lambs, under 42’s 9)d. to lOld. per lb., over 42’s 9d- to 9}d. per lb-, seconds 9d. to 9!d. per lb., Australian Bd. to BJd. per lb., Argentine Bd. to Bld. per lb. The New Zealand Producers’ Co-op-erative Marketing Association, Ltd., have received the following weekly cabled dairy produce market report from London:—Butter: Market quiet; New Zealand. salted 1525. to 1545., unsalted 1545. to 1585.; whey, 120 s. to 1265. Australian, 138 s. to 1405.; inferior, 112 s. to 120 s. Argentine. 1345. to 138 s. Danish. 1695. to 170 s. Cheese: Market quiet; New Zealand, botli white and coloured, 82s. to 845.; Australian, 765. to 80s. The National Dniry Association of New Zealand, Ltd., have received the following cablegram from London dated April 17:—Butter: Market quiet; New Zealand, salted, 1525. to 1545.; New Zealand, unsalted. 1545. to 1585.; Australian, salted, 138 s. to 1405.; Argentine, 13ts. to 1385.; Danish, 1695. to 170 s. Cheese: Quiet; New Zealand, 82s. to 845.; Australian, 70s. to 80s. The New Z<ealand Mqat Producers’ Board has received the following cablel gram from its London office, dated April 17, advising the Smithfield delivered prices at that date as follow:— New Zealand wethers and maidens: Canterbury quality, selected brands, 561 b. and under 7fd. per lb., 571 b. to &flb. 7d., 651 b. to 721 b GJd.; other brands, 561 b. and under 63d., 571 b. to 641 b. 61d., 651 b. to 721 b. 6Jd. New Zealand ewes: 641 b. and under, 5Jd. per lb. New Zealand lamb: Canterbury quality, 361 b. and under 10<L per lb., 371 b to 421 b. 9fd., 431 b. to 501 b„ 9*d., seconds 91d.; selected brands, 361 b. and under 10’cl. per lb., 371 b. to 421 b. 10}d.; other brands, first quality, 4,21 b. and under 9Jd., seconds 9d. New Zealand beef: Not quoted. Argentine chilled beef, ox fores 4d. per lb., hinds 6Jd. Argentine frozen beef: Ox fores 3Jd. per lb., ox hinds. 5Jd. Frozen pork: 801 b. to 1201 b. 7-Jd. ner lb., 1201 b. to 1801 b. 7d. FOOT AND MOUTH DISEASE VOTE FOR SUPPRESSION IN CALIFORNIA. Washington, April 21. The Senate has adopted a resolution authorising the Department of Agriculture to spend 1.500,000 dollars for the suppression of foot and mouth disease in California. The measure has the approval of the House of Representatives, and now goes to the President, who will undoubtedly sign it.—Aus.-N.Z. Cable Assn.

FIFTY THOUSAND CATTLE SLAUGHTERED. San Francisco, April 20. Official figures show that fifty thousand head of cattle have been slaughtered, “heir value being 21 million dollars. in the battle te stem foot-and-mouth disease.—Sydney “Sun” Cable.

ENGLISH FRUIT MARKET

Messrs. T. Boss-Walker, Limited, are in receipt of a cablegram from Messrs. Yeoward Bros., informing them that, apart from special lines, the Western Australian apples, ex s.s. Esperance Bay. opened at 17s. a case for Cleopatras and 16s. a case for Jonathans; but that both varieties finished at 145., the fall having been, apparently, due to the discovery, as the discharge of the cargo continued, that the fruit was in a less satisfactory condition than was at first anticipated. Dinin’s Favouriite. a harder and better keeping variety, opened and closed at 17s. The Australian apples brought by the s.s. Demosthenes sold at the following prices:—Cleopatras, 1-ts. to 17s. Gd.; Jonathans, 13s. to 165.; Dunn’s Favourite and Cox’s Orange Pippins, 13s. te 15s. 6d. The message odds that the present strong Continental inquiry in Hull for the best class of Australian apples is expected to continue.

COMMERCIAL ITEMS

AMP. SOCIETY ANOTHER RECORD YEAR A new record in the amount of new business in both the ordinary and the industrial departments was created in 1923 by the A.M.P. Society. In the ordinary department 26,369 policies were issued, assuring £12,336,487, and returning a premium income of £391.-

56-5, together with single premiums of £34,452. Reassurances amounted to £290 914- addition, 55 annuities for a total of £3320 per annum were granted, the amount paid therefor being £23,409 in lumii sums and annual premiums of £67. In 1922 the number of policies issued was 20.(k>8 and the amount assured £IU,S-7,//b. Claims by death in the ordinary department alfected 2657 policies, and amounted to £1,521,632, including £523,866 for bonus additions. EndowJnent and endowment assurance policies number 4194, and amounting to £1 203,128, including £31<,9u2 lor bonus additions matured. Policies numbering 7222 for £1,626,073 assured, were surrendered, a considerable number in this category being due to the abolition of the Commonwealth 1 üblic Service Compulsory Assurance scheme. The previous year’s surrenders numbered 2942. Forfeitures numbered 4762, assuring £1,910,533. Policies in force in the ordinary department on December 31 numbered 387,570 for (exclusive of reassurance. Endowments on lives numbered 2488, for £416,388, and annuities 1250 for, £73,632. Annual premiums amounted to £4,052,690, and income from interest was £2,669,454, making the total income for the year £6,722,145 in the ordinary branch. The amount of funds in the ordinary department at. December 31, 1923, was £48,105,363, compared with £45,934,074 a year previously. Expenses of management amounted to £351,781, compared with £341 503, and taxation to £106,023, compared with £lOO,OlB. Assets include £l3 258,122 In loans on mortgage, municipal loans £10,358,761, loans on society’s policies £7,067,192, and Government securities £20,313,064. The actuary’s report shows that the rate of interest realised was £5 9s. 2d. per cent., on the mean funds, and the effective rate was £o 12s. 2d. Total claims by death, £1,521,632, none of which had been re-assured, were only about 54 per cent, of the amount expected from the tables of mortality used in the valuation. The actuary’s valuation shows a divisible surplus of £1,967,456 in the ordinary department, and of £115.931 in the industrial department. These sums will provide reversionary bonuses of about £3,350,000. VANISHING B.A.W.R.A. STOCKS GREAT WOOL-SELLING RECORD B.A.Vv.R.A. stocks are now down to 44,778 bales, and only 11,151 bales of these are New Zealand wool. B.A.W.R.A. came into existence practically on December 7, 1920, and on December, 31, 1920, the stocks in the hands of B.A.W.R.A. for realisation comprised the following: — Bales. Australian 1,836,005 New Zealand 772,943 Falkland Islands .. 2,329 2,611,277 Later on 80,550 bales of South African wools were placed with B.A.W.R.A. for realisation. During 1921, the realisations totalled 801,449 bales, of which 138,890 bales werq New Zea-land-grown wool. The clips of 192122, 1922-23, and 1923-24 were also marketed, and' to-day there is scarcely a bale of wool left in New Zealand. Besides B.A.W.R.A. stocks many thousands of bales of old wool were held by farmers, and all these have gone into the hands of users. Crossbred wool, which at first was difficult to quit, and was making very low prices, is now in excellent demand, and appears to be more sought after than merino wool. Latest reports from Bradford are to the effect that moderate liisiness is doing in crossbred topsand that merino is stagnant. Owing to the decreased purchasing power of the masses, trade in the lower-priced heavy woollen textiles, made from the coarser grades of wool, has been for some time more brisk than business in the finer fabrics. That phase was particularly noticeable in domestic turnover in' the British Isles, but the day of cheap, coarse wool, like the days of c’-'eap fine wool, appears to have passed. Eighteen months ago coarse crossbred could have been bought at 6d. to Bd.; to-day the price ranges from 16d. to 18d. and over. Tho rise in value of the raw material has naturally sent prices for the heavier fabrics upwards. Much of the upward trend in rates for the coarser grades ha* been duo to a speculative demand. Some handsome profits have, no doubt, been made; but the possibilities in that direction have now become very restricted. The demand now is more of a consumptive character. Higher prices for woollen fabrics must be anticipated in New Zealand, and the rise is already to be noted in the cost of suits. CUSTOMS REVENUE. Customs revenue collected at the port of Wellington yesterday totalled .£3514.