FARMING & COMMERCIAL

Dominion, Volume 18, Issue 185, 1 May 1924, Page 10

FARMING & COMMERCIAL

NEWS AND NOTES

AUCTION SALES FORTHCOMING SALES. TO-DAY. Sales will be held at: — 81 Hill Street, Wellington. 10 ti-m.—Sale of furniture (E. Johnston. and Co.). Dominion Avenue. Wellington, 1.30 p.m. —Salo of office furniture (Vine and Wilson). Otaki Yards, 1 p.m.—Stock sale. 195 Lambton Quay, "Wellington, 2.30 p.m.—Sale of property situated 87 and SO Grafton Road (Harcourt and Co.). TO-MORROW. Wairero. Gisborne. —Sale of sheep c/o Messrs. Buchanan Bros. (Dalgety and Co.). Selwyn Rd., Havelock Nth. H. 8.. 1.30 p.m.—Sale of 8-roomed residence (Hoadlev. Son, and Stewart. Ltd.). Tivoli Theatre. Feilding, 2.30 p.m.— Sale of land in the estates of the late ,T. C. Gordon and the late Patrick Nesdale (Abraham and "William'). Haymarket Sale Rooms. Albert St., Auckland 2.30 n.m. Sale of the home of the late H. T. Corrie (Alfred Buckland and Sons, Ltd.). FARMING INTERESTS FROZEN MEAT MARKET SHIPMENTS FROM N. Z. The New Zealand Meat Producers Board has issued, a statement showing; the quantity of frozen meat shipped from New Zealand to tho end of March this season, and a compare son with the figures for the same period last season.

In freight carcases the respective totals shipped were; —

From these figures jt will bo seen that th© shipments this season up to the end of March are approximately the same as last year. This season the Australian shipments nro much below last year’s figures. The respective numbers of lambs shipped from the Commonwealth in tho two seasons from September to February (six months) aro as follow: —

Compared with last season, the board, in regulating shipments, has not allowed more moat to go forward this season than the position! warranted, for if last season Great Britain was able to absorb this large quantity of Australian lamb and still give us about ll|d. for our lamb, it would be quite reasonable to assume that, with the much smaller quantity of Australian lamb going forward this season the market should bo able to absorb the same quantity cf our lamb as wo sent along . last season for the corresponding period. A much greater quantity of lambs would have bt3n shipped from the Dominion this season up to date had) not the board exorcised control over shipments. It is hoped that with the enormous number of visitors expected in London, attracted by the Exhibition, a greater demand for our lamb will be created —more narticularlv as tho lamb season usually commences about Easter. BURNSIDE STOCK SALE GOOD DEMAND AND HIGHER PRICES. By Telegraph—Press Association. Dunedin, April 30. The railway strike had its effect on the vardings of all classes of stock at, tbe Burnside sale to-day. No stock of any description arrived by rail, the whole of the entries coming by road from close-to-hand districts. There was a good demand for most classes of stock, with the result that enhanced values were obtained for prime sheep and pigs, while late rates were maintained for fat cattle. Fat Cattle. —A large yarding, numbering 260 head, compared with 270 last week. A fair proportion of the entry comprised prime bullocks, but the bulk of the offering consisted of medium-weight steers, cows, and heifers. The yarding was in excess of requirements, but firm prices were obtained for all prime sorts. Extra prime bullocks sold on a basis of 38s. per 1001 b., second quality bulocks from 355. 6d. to 375. 6d., ? prime heifers round about 255., cons 19s. to 21s. Extra prime heavy-weight bullocks sold at from £l6 15s. to £lB, prime £l3 15s. to £l5, medium £ll to £l2. Prime cows and heifers sold at rxp to £7 155., medium to £6, light and unfinished sorts £3 to £4. Fat Sheep.—A medium yarding, numbering about 1900 head, compared with 1064 last week. The quality was mostly indifferent, the entry consisting principally of ewes, and many pens were unfinished. In consequence of this, all prime sheep, both ewes and wethers, camo in for keen demand by butchers, and prices for this class showed an advance of Is. per head for wethers and up to 2s. per head for ewes. Values for unfinished sorts were much on a par with last week’s rates. Extra prime wethers were worth 7jd. to B}d. per lb., second quality wethers to Bd., inferior wethers to 771., primo ewes to 6d., and aged ewes 4Jd. to s<l.

Extra prime heavy-weight wethers sold at up to 545. 6d., prime 40s. to 465., medium 355. to 385., light and unfinished sorts 28s. to 335. Prime ewes sold at from 355. to 405., medium 255. to 28s. 9c1.. light and aged 17s. ts 225. The market was slightly easier towards the close of the sale for indifferent quality sheep. Lambs. —A small yarding of about 300 head, compared with 207 last week. The quality was mostly indifferent, the bulk of the entry not being fit for export. Freezing buyers, in consequence, were not operating to any extent, and secured only a few, pens. Prices were much on a par with late rates, prime lamb selling on a basis of 9d. to 9-Jd. per lb. There was practically no demand for unfinished sorts, graziers refraining from operating. Primo lambs sold at from 345. to 365. 9d., medium 275. to 31s. 3d., light and unfinished sorts 245. to 265.. Store Cattle.—A large entry, ni-mber-ign about 250 head. With the exception of about forty head of good steers the yarding was composed of ordinary cows and young cattle. There was very little life in the market, and prices showed little improvement. A line of three to four-year-old steers sold at from £6 to £8 per head. Dairy Cattle. —A smaller entry than usual, only thirty-two being offered. Very few good sorts were sent forward, and the safe was not very spirited. But cows sold at up to £9, heifers from £6 10s. to £7, and aged cows from £2 10s. to £3. Pigs.—A medium yarding, consisting principally of porkers. Baconers were in very short supply. Tho entry met with a very keen demand, with the result that prices for prime baconers and porkers showed a rise of fully 10s. per head. Values for prime baconers are on a basis of 7Jd. per lb., and for prime porkers about B}d. per lb. ADDINGTON STOCK MARKET LARGE ENTRIES AND FREE SALE By Telegraph—Press Association. Christchurch, April 30. On the assumption that entries for the Addington market to-day would be small on account of the strike, graziers sent forward by road considerably heavier drafts than usual. Tho result was a much bigger yarding both in fat cattle and sheep, than when the Railway Service was in full suing. However, butchers were very bare of supplies, and a free sale, resulted. Store Sheep.—A fair sized yarding. Values all round were on a par with late rates. Halfbred wether lambs realised 19s. sd. to 20S. 9d., small halfbred wether lambs 16s. Cull twotoothed crossbred ewes 275., failingmouthed ewes 235. to 255., aged ewes Bs. 9d. to 18s., four and five years old Corriedalo ewes 275. Cd., sound and failing-mouthed three-quarterbred ewes 275. 3d. Good four, six, and eighttoothed half bred wethers 30s. to 30s. 9d., four and six-toothed crossbred wethers 28s. Id., inferior four, six, and eight-toothed wethers 275. 10d., twotoothed halfbred wethers 255. 3d. Fat Lambs. —3240 were penned. There was a keen sale, and export prices improved to lOjd. per lb. for prime lambs under 421 b., 9Jd. for overweigths, and 9jd. for light-weights. Extra prime lambs realised 38s. Cd., prime 31s. to 345., medium 28s. to 30s .Cd., light 245. to 275.

Fat Sheep.—A heavy entry of eleven races of sheep which had travelled considerable distances from North and Mid-Canterbury and the Peninsula. There was a brisk sale for good sheep. Extra prime wethers made to 515., and a special draft to 605., prime 38s. to 425. 6d., medium 345. to 375., light 30s. to 335. Cd. Extra prime ewes 375., prime 325. to 355., medium 28s. Cd. to 31s. 6d., light 245. to 28s, old 19s. to 225. Fat Cattle. —A largo yarding of 545 head, including a travelled line from between Marlborough and Nelson and large North Canterbury and Banks Peninsula drafts. Thero was a good sale for finished beef, best beef averaging 31s. to 345. per 1001 b. Extra prime steers realised £IC 155., prime £ll 10s. to £l4 10s., medium £9 to £ll 55., inferior £6 to £8 10s. Extra prime heifers £ll 55., prime £7 I,ls. to £9 10s., medium £4 10s. to £5. Extra prime cows.£ll 12s. Cd., prime £G 10s. to £9, medium £4 to £G ss. Vealers.—A good quality yarding and a good sale. Runners made to £5, good vealers £3 10s to £4, good calves £2 to £3 55., small 10s. to 275. Cd. Store Cattle. —A Marlborough lino ot 80 odd provided tho best classes. Threeyear steers made up to £7, yearlings to year and a half £3 Ils., yearling heifers £3 75., cows 355. Fat Pigs.—Values were easier. Choppers macle £2 10s. to £5 75., light baconers £3 15s. to £4 55., heavy baconers £4 10s. to £5, extra heavy baconers £5 2s. Cd. (average price per lb. 6d. to 6Jd.), light porkers £2 2s. to £2 10s., heavy porkers £2 15s. to £3 Bs. (average pneo per lb. 7}d. to Bjd.). Store Pigs.—There was no alteration in values. AVcaners made Bs. to 125., extra good 175., small stores 18s. to 215., medium "dores 375. to 425. JOHNSONVILLE FAT STOCK SALE Messrs. Wright, Stephenson, and Co.. Ltd., and Abraham and Williams Ltd. report on their Johnsonville fat stock sale held yesterday.— We submitted to a good attendance of buyers a full yarding of both sheep and cattle. The quality on tho whole was good, and bidding was brisk throughout the sale. Prices realised were slightly better than last week. Quotations: Bullocks —Heavy, £ll ss. to £ll 155.; medium, £lO ss. to £lO 12s. Gd.; light, £7 10s., £7 12s. Cd., £B, to £8 2s. Gd. Cows, heavy £B, lighter £4 10s. to £5 10s.; runners, £2 Ils., £2 17s. Gd., £3 75., £3 7s. Gd., £4 2s. Gd., to £4 7s. 6d. Wethers. 325. 9d., 335., 335. 6d., 345. Cd., 395. Gd., 425., to 435. Ewes, 265., 265. 3d., to 265. 6d. Lambs, 235. 6d., 235. 9d., 245., 255. Gd., 275. 2d., to 28s. 6d. STOCKS OF EGGS QUANTITY IN STORE. The return of stocks of eggs in shel', egg-pulp, and frozen whites and yolks, lirld in cold store throughout tho Dominion on March 31 last, showed: — Eggs in shell, 44,942 dozen; egg-pulp, 840.8891 b.. roughly a little over seven and a half million eggs; frozen whites, 2GlBlb. ; frozen yolks, nil. LONDON MEAT STORAGE RATES Captain A. W. Pearse, representative for tho Port of Lk>iido?< Authority for Australia and Now Zealand,. has received tho following notification of alteration of storage rates in London: —“Revised meat management rate including 28 days’ storage is 40.5. per ton. Rent after 28 days 2s. per day. blit not to exceed for second period of 28 days, 335., third and fourth periods 31s. 9d.. fifth and subsequent periods 30s. 2d.”

COMMERCIAL ITEMS

WELLINGTON STOCK EXCHANGE

YESTERDAY’S BUSINESS AND PRICES

Sales were reported at the afternoon call yesterdav of 4$ per cent, stock (1938) at £96 155., and 4J per cent. War Bonds (1938) also at £96 los.. Bank of New Zealand shares at £2 12s. 6d., New Zealand Insurances at 295. 9d., and National! Timber shares at 225. There was a fair demand for Government securities, with buvers of the 4$ per cents. (1930) at £96 12s. 6d. 5 per cent. P.O. stocks and bonds at £97 10s. For the Wellington Gas Company’s 8 per cent, debentures buyers bid £lO3, or £1 less than on the previous day. Bank shares were very firm with prices unchanged. Buyers offered £l3 4s. for Bank’ of Australasia shares, £6 13s. 6d. for National Bank shares, and £2 12s. for Bank of New Zealand shares. Union Bank shares changed hands at £l4 Ils. in Auckland. Metropolitan Permanent Building shares were in demand at £l2 10s. cum rights, and Wellington Trust and Loan shares at £5 12s. Huddart Parker ordinary shares at £2 2s- 7d. were slightly firmer, and Union Steam preference si ares were firm at 20s. P and O. deferred stocks were offered at £294. Westport Coal shares were firm at 375. 3d. All timber shares were in strong demand at late rates. There were buyers of Crown Brewery shares at 38s. 6d., D.I.C. ordinary shares at 13s. 9d., New Zealand Drug shares at £3 6s. Gd., New Zealand Paper Mills at 22s- 6d., and Wilson’s Cement at 295. fid. Yesterday’s buying and selling quo-

SALES IN OTHER CENTRES By Telegraph—Press Association. Christchurch, April SO. Sales reported: New Zealand Government 4J per cent. Inscribed Stock (1939). £96 17s. 6d.; 5 per cent. Bonds (1927), £97 12s. 6d.; 5J per cent. Inscribed (1933). £101; New Zealand Loan and Mercantile (ordinary stock), £9O; Now Zealand Refrigerating (contrib.). 95.; Ward’s Brewery. 445. 6d. Sales: Goldsbrough Mort. 535. 6d.: Now Zealand Loan and Mercantile (ordinary stock), £9l; Wilson’s Cement, 295. 4d.: Royal Bank (£1 paid. cum. div.). 335.; National Bank of Australia (£lO paid), rights 435. Dunedln,_ April 30. Sales reported: Huddart-Parker (pref.), 20s. 3d.; Canterbury Meat. £l3; Donaghw’e Rope end Twine. 415.; New Zealand Breweries, 23?. 3d : Bank of New Zealand. 52a--525. 6d.; 1927 P.O. 5 per cent. Bonds. £9B. Auckland, April 30. Sales: Bank of New Zealand. 525. 3d.; Loan and Mercantile, £9O; Rotoiti Timber 245. 6d.; Waihi, 31s. WELLINGTON DEPOSIT AND MORTGAGE ASSOCIATION ANNUAL MEETING The twenty-third annual meeting of the Wellington Deposit, Mortgage and Building Association, Ltd., was held last night, when Mr. W. H. P. Barber presided. The chairman, in moving the adoption of the balance sheet, referred to the satisfactory state of affairs throughout the year. Deposits had increased, from £39,925 to £41,016. The mortgage on the Panama Street property had been reduced by £lOOO, and now stood at £2250. Mortgages had remained practically stationary. ’Hie Panama Chambers Building had been written down bv £l9B 18s. The net result of the year’s business shower a profit of £2130 3s. _9d., equal to 8> per cent, on tho paidl-up capital, which was considered satisfactory, and particularly gratifying in view of the difficult conditions existing for investment companies. £250 was added to tho reserve account, and a dividend, of 7 per cent, was paid. Surplus funds, after payment of the dividend, amounted to £4661. Messrs. F. J. Evans and J. J. "Williamson were re-elected directors, and Messrs. J. H. G. Rowley and W. E. A. Gill were re-elected auditors. NATIONAL INSURANCE DIVIDEND By Telegraph—Press Association. Dunedin, April 30. The directors of the National Insurance Co. have declared an interim dividend of Is. 3d. per share, payable on May 16. CUSTOMS’ REVENUE. Customs revenue collected at the port of Wellington yesterday totalled £6142. NAPIER WOOL SALES LAST SERIES ANALYSED. By Telegraph—Press Association. Napier, April 30. Figures have just been made available showing the quantity of wool sold, average price per bale, and tho total amount realised at the four Napier sales in the 1923-24 season. The bales sold numbered 93.240 of tho total value was £2,021.257 7s. 3d. Details are as under: —■

In the previous season, 79.411 bales were sold and £1,214,123 11s. 7Jd. was realised. The average price per bale dropped from £l7 4s. 7d. at the second sale to £l3 9s-, 6d. ?.t tire Lust.

Beef. Qrs. Mutton. Olea. Lamo. C/rSNovember, 1923 ... 8,690 56.241 81.951 December. 1923 .. 1.405 48.095 202.590 January, 1924 .. 1.595 120.356 536. Z53 February. 1924 ... 20.200 230.786 704.933 March, 1924 ... ... 58,652 382.139 636,618 90,542 837.617 Beef. Mutton. Lamb. Qre. C/cb. Olea. November, 1922 .. 15.603 64.327 28,894 December. 1922 .. 13.709 46.881 78.979 January, 1923 .. 49,103 189.511 671.316 February, 1923 .. 37,175 219.353 615.415 March, 1923 .... .. 49,455 273.955 656.257 165,045 794,027 2.V50.E61

November Season 1922-1925. 144,297 Reason 1923-1924. 12.7 3P6 December 154,952 186528 January 750.136 435,229 February 696.7C6 694 769 March 813,306 912.502 2,558.397 2.356,404

Season 1922-1923. Seanon 1923-1924. September 67.571 1.389 October 412 890 42 326 November 950.5-10 333.269 December 504.325 465 082 January 252.597 88.073 February 207.988 25,536 2,395.911 976,676

tations were as under: — Bell-ern. Buyers. WAR LOANS— £ s. d. £ b. d. p.c. Insc. Stock, 1938 — 97 0 0 41 p.c. Insc. Stock. 19.13 —— lot 0 0 n.e. War Bonds, 1938 97 0 0 41 n.c. War Bonds, 1930 96 12 6 5 p.c. P.O. Bonds. 1927 97 10 0 •— 6 p.c. P.O. Insc. Stock. 1929 97 0 0 97 10 0 Do.. 1927 97 10 0 98 5 0 DEBENTURES— Wellington Gas 103 0 0 N.Z. Breweries — 110 BANKS— Australasia 13 4 0 — National of N.Z 6 13 6 6 15 6 New Zealand Union * 212 0 2 12 9 14 11 0 FINANCIAL— CirdsbroUBh Mort ?. 13 3 Equitable Building ... — 9 15 0 Metropolitan Pernionent, c.r 1Z IQ 0 —— Well. Trust. Loan 5 12 a 6 15 0 INSURANCENational * — ¥> 17 6 New Zealand 1 10 0 TRANSPORT-Huddart-Parker (ord.) 2 3 7 2 3 0 Do. (nref.l —• 10 7 Union Steam (pref.) . 10 0 —— P, and O. Def. Stock . — 294 0 0 WOOLLENWell, (nref.) —• 7 2 0 Do. (£3 6s.) 3 3 0 COAL— Westport 1 17 3 — Westport-Stockton (ord.) 0 5 4 Ditto (pref.) 0’6 Wai pa — 0 18 2 TIMBER— Kauri 1 a 0 Leyland-O’Brien 2 0 0 —— Uotoiti 13 3 —— Tarinpamutu i 13 0 — National ■ 1 2 6 MISCELLANEOUS— Crown Brewery 1 18 6 2 10 Dental and Medical ... • — 10 9 D.I.O. (ord.) 0 13 9 •M Gnt-es. Ltd — 0 12 0 N.Z. Drus 3 6 6 — N.Z. Paper Milla 12 6 — Wairarapa Farmers (pref.) 0 16 6 — Well. Cordnffe —— 0 19 0 Wilson’s Cement 19 6 — MININGWaihi, cum. div 1 11 6

No. of Ba’es. A ver ape price. £ h. d. Total realised, j; a. <1. December .. 24.657 18 18 03 466.095 3 8 January .. .. 32.866 22 7 8 735,657 9 5 February . .. 28.563 22 15 6J 651.432 11 4 March . 7,154 23 9 104 168.072 3 10