FARMING & COMMERCIAL

Dominion, Volume 18, Issue 193, 10 May 1924, Page 10

FARMING & COMMERCIAL

NEWS AND NOTES

AUCTION SALES forthcoming sales. TO-DAY: Sales will bo held at: — 2 Beach Street, Island Bay, Wellington, 1 p.m.—Sale of furniture (A. L. \\ 11son and Co.). MONDAY. 14 Matai Road, Hataitai, Wellington 1.30 p.m.—Sale of furniture (B. Johnston and Co.). . Featherston Street, Wellington,-..30 p.m. —Sale of property, account Dominion Mercantile Agency, Ltd. (J- M. Bethune and Co.). TUESDAY. Waitara— Sale of pedigree Jersey herds, account Messrs. W. S. and W. L. Knuckey (Newton King). "Waipiko,” Cheltenham, near Feuding. —Sale of Mr. C. G. C. Dernier’s Jersey herd (Wright, Stephenson and Co.). ■ 195 Lambton Quay, Wellington, 2.30 p.m. —Sale of residence situate 29 Parade, Island Bay, also properties situate 157 The Terrace, 140 Willis Street, and 11 Arlington Street (Harcourt and Co.). Levin Yards, noon.—Stock sale .

FARMING INTERESTS

WOOL MARKET A PRICES FIRM AT LONDON SALES. (Rec. May 9, 9.45 p.m.) London, May 8. At the wool sales buyers are taking rather more interest, and prices generally are firm. The Bradford tops market is quiet, with a good tone. Quotations: Sixtyfours, 69d. per lb.; sixties, 644 d. ; fifty-sixes. 48d.: ft’ties, 36d.; fortysixes. 29}d.; forties, 25Jd. —Aus.-N-Z. Cable Assn. The Waimrapa Fanners’ Co-operative Association, Ltd., are in receipt of the following cablegram from their London agents, under date May 8:—Wool sales opened to-day and were well attended by home and Continental buyers. Fine medium and coarse crossbred, no quotable chance.” Messrs. Murray, Roberts, and Co., Ltd., yesterday received the following wool market ‘ quotation from their London aigents. dated May 8: —56’s, yie.ding 60 per cent.. 315.; 50’s, yielding 65 per cent., 27d.; 44-46’s preparing, yielding 74 per cent., 201 d.; 44-46’s carding, yielding 72 per cent.. 19Jd.; 40-44’s. yielding. 73" per cent., ISijd.; 36-40’s, yielding 75 per cent., 181 d. BUTTER AND CHEESE LONDON QUOTATIONS. (Rec. May 9, 5.5 p.m.) London, May 8. Danish butter has been raised to 210 s. per cwt., as a result of the continuance of the German demand. The week’s supplies have been cleared at that figure. The London market is fairly steady, but actual business is small. New Zealand choicest salted 168 s. to 1725. per cwt., exceptionally choice 1785., unsalted 1765. to 180 s. Australian salted about 1565. to 160 s. per cwt., secondary 140 s. to 150 s. The cheese market is quietly steady. New Zealand 86s. per cwt. —Aus.-N.Z. Cable Assn. Messrs. Dalgety and Company, Limited, report having received the following cablegram from their London house, under date May 8: —"Butter —More in-

quiry. We quote New Zealand salted 170 s (1725.); New Zealand exceptional brands. 178 s. (178 s. Danish, 210 s (200 s. finest Australian, salted, 160 s. (1625.); unsa.ted. 1625. (1665.). Cheese—More doing. New Zealand, 85s._ (875.).” Last week’s quotations given in parentheses. MEAT PRESERVING BRITISH OFFICIALS TO CWRRY OUT TESTS. (Rec. May 9, 5.5 p.m.) London, May 8. Professor Chapman, before the Ministry of Health’s Foods Preservation Committee, Sir Horace Monro presiding, outlined the principles ot the Bullot meat preserving process., The committee was interested closely, and questioned Professor Chapman from all aspects of the question. It undertook that the Ministry’s officials would carry out tests on a trial cargo of Bullettreated meat from the Argyllshire, arriving at the end of the month. The committee requested Professor Chapman in the meantime to supply a more detailed report on the process.—Aus.N.Z. Cable Assn. FROZEN MEAT MARKET Messrs. Dalgety and Company, Limited, report having received the following cablegram from their London house, under date May 8: — 1 Lamb. —New Zealand prime crossbred lamb: Canterbury, heavy 91d„ light 7d.; North Island, heavy 6d., light 10(1.; demand for New Zealand lamb continues, market firmer. Mutton. —New Zealand prime crossbred mutton: Canterbury, heavy 6Jd.. light 7dd.; North Island, heavy 6Jd., light Old. ; demand for New Zealand mutton better, any change in price is in favour of sellers. Beef. —Not quoted. Australian Frozen Meat. —Not quoted. The New Zealand Meat Producers’ Board advise the weekly prices of fat stock for export as under: — Auckland.—Wethers. 64 and under, 6d.; ewes, 64 and under, 4|d.: prime woolly lambs, 42 and under, 9d.; 43 and over, 81d. ; second quality lambs, 8HPoverty Bay, —Wethers, 64 and under, 6Jd.; ewes, 64 and under, 4|d.; prime woolly lambs, 42 and under, 91d Hawke’s Bay—Wethers, 4 and under, 63d; ewes, 64 and under, 5Jd. ! prime woolly lambs, 42 and under, lOd. , t Wellington.—Prime woolly lambs, 42 and under, lOd.; 43 and over, 9Jd., second quality lambs, 9d. Canterbury.—Wethers, 64 and under, 7d.; owes, 64 and under, sjd.; prime woollv lambs, 42 and under, 103 d.; 43 and over, 10jd. ; second quality lambs, 9Jd. Southland. —Prime woolly lambs. 42 and under. IOJd. : 43 and over, 9gd.; second quality lambs, 9-Jd. Messrs. M. A. Eliott, Ltd.. Palmerston North, have received cable advice from Messrs. Gilbert /Anderson and Co.. Ltd., London, of the following Smithfield nrices for the week ending May 9. These nrices are on the “delivered” basis, that is, including storage charges, cartage, etc.:—North Island prime Down Jambs, Under 361 b., lid. ; 36 to 421 b., 10’d. ; 42 to 501 b., lOd. Best North Island prime crossbred lambs, under 421 b., 10 Jd- Oddinarv North Island lambs, under 42 lb.. lOd.; second quality, under 421 h., 93d. Best North Island wethers and /or maiden ewes, 48 to 561 b., 7Jd.; 56 to Glib., 6Jd.: 64 to 721 b., 6Jd. Ordinary North Island wethers and/or maiden owes, 48 to 561 b.. 7d. ; 56 to 641 b.. 61d.; 64 to 721 b., 61d. North Inland ewes, under 641 L., 5Jd. : 64 to 721 b., 43r1. ; 721 b. and over, 4}d. Remarks: Mutton and lamb, Jd. higher. GRAIN AND PRODUCE CANTERBURY MARKETS. Bt Telegraph—Press Association. Christchurch, May 9. The mid-week report practically covers the present grain and produce position. The fever in the oat market has abated to some extent, but there is no easing in merchants’ quotations one to another. The bulk of the business is of a purely paper character, and where the oafs have been produced they are going into store; they are not wanted. Sales have taken place for May-Juno delivery at up to ss. 3d. per bushel, f.0.b., 5.1., and ss. 2d. for later spread delivery. Chaff is quoted at £6 to farmers on trucks. Sales between merchants have taken place at up to £7 17s. 6d. f.0.b., 5.1., but ias in the. case of oats the goods are not going into consumption. The potato market is about the only branch where the ordinary business of supply and demand is operating. The Atua, on Tuesday night, took 2900 sacks of potatoes, and the Flora last night was expected to take a similar shipment. The next vessel is the Wingatui, to sail about next Wednesday. Farmers around the city are not offering many, and quotations are £5 to £5 7s. Gd. on trucks. The seed market is lifeless.. Peas are quoted at 6s. on truck and deliveries are goin- into store. There is no change in the quotations for cocksfoot, ryegrass and clovers. “PRIME CANTERBURY” Bt Teleguapii—Press Association. Ashburton, May 9. The question of railage of Southland lambs to Canterbury to be slaughtered was discussed by the provincial executive of tho Fanners’ Union. It was stated that Southland was sending lambs to be killed here in order to o-ain an increased price on the strengt], of the reputation of prime Canterbury lambs. The following resolution was carried unanimously: “That the Minister of Agriculture bo appealed to to protect the good name of Canterbury lamb by issuing a regulation that all stock railed to Canterbury freezing works for tho purposes of freezing for export be branded with tho name of the province of origin.”

FEILDING STOCK SALE

By Telegraph—Special Correspondent. Feilding, May 9. There was a fair yarding of both sheep and cattle at the Feilding sale to-day. In tho store sheep c.asses. wethers experienced a good demand and good breeding owes maintained late rates. There was little or no movement in other sheep lines excepting in tho fat pens. In the store pens good 2-toqth wethers brought up to 30s. 4d., whilst 4-tooth lines realised up to 295. id. Good iuUmouthed breeding ewes running with rams made to 265. -id., and empty ewes to 18s Gd. Fat to forward wethers made to 335. The highest price realised for fat wethers was 365. id. Ihe store cattle pens contained lines suitqb.e for boi.ing-down, and these were quitted at prices varying according to quality. There were also a few pens of useful bullocks, but the demand was not acSheep.—Lambs realised 17s. 7d. to 255„ and prime quality to 305., ewes 19s. 8d to 255. 6d., wethers 325. 9d to 365. let b.f. lambs 20s. 3d. to 225. 2d., blackface (mixed). 265. to 30s. /d. Fat Cattle—Cows realised £3 to £6, heifers, £3 25., vealers. £2 3s 6d. Store Sheep.—Lambs made Us. to 16s_., 2-tooth wethers 255. 7d. to 305.. i and oyear ewes, running with S.D. rams. 21s. Gd. to 265. 4(1., wethers 2as. 3d. to -9s. 7d., b.f lambs 14s. Id. to l<s. 3d, wether lambs 15s. 4d. to 195.. ewe lambs 18s. 2d. to 20s. 10d.. empty ewes Ils, to lbs. 6d’, f. and f. ewes 335. Id. Dairy Stock—One pedigree Jersey heifer six months old, sold at £ll Ils., springing to £7 ; heifers £□ 7s. 6d.» cows in calf J 22. cows in milk 2S Store Cattle.— Yearling heifers 7s. 6d. to 135., 2-year steers 255. to 3-s. steers £3 10s.. bullocks, £5 75., cows Ms. to £2 18s.' , WHOLESALE PRODUCE PRICES Messrs. Laery and Co., Ltd. report wholesale prices as follow—Barleymeal £9 55.; peameal, £9 15s. per ton; linseed meal, 18s. 6d.; linseed nuts, 16s. 6d ; meatnieal, for poultry. 15s. Gd.; shell grit, 6s. 6d. per 1001 b • mixed fowl feed, 5-sack lots oi over ss. 10d., lesser quantities Gs. per bushel, sacks in; maize, whole. Gs. Gd., crushed, 75.; butter, farmers separator and dairy. Is. 3d. per lb.; Partridge peas. 7s 9d.; peas, Gs. 6d. per bushel, sacks in; oats, machine dressed seed, Algerian Gs. Gd., farmers dressed, Algerfan 5s 7d., cruhed ss. 10d., Duns Gs. 6d.,’ black oats 6s„ feed Algerians ss. Gd. per bushel, sacks in; eggs, first grade, new laid, 3s. to 3s 4d„ storekeepers lines, 2s. Bd. to 2s. 10d preserved Is. 6d. to Is 7d per dozen; fowls. White Leghorns, 4 fl ; to 4s. Gd.. Black Orpingtons and similar heavy varieties, 7s to 8s n«r pair; turkeys, lid. to Is. la. per lb.; ducks, Bunners, jzood, 8s to 95., mferior 6s. to 6s. 6d.. large white. Bs. to 10s per pair; fuqgus, 7d. to Bd. per lb.: rock salt Gs per cwt; dressed pork, 60s fn C 9o’s 7d. per lb.; chaff, oaten sheaf, Blenheim prime bright, ton lots, £lO ss. ton sacks in; potatoes, choice white. 9s per cwt; sucrosine. £ll per ton; fowl wheat, 10-sack lots or over, 6s. 4d. per bushel, lesser quantities. 6s. 6d. per bushel, sacks in.

COMMERCIAL ITEMS

WELLINGTON STOCK EXCHANGE YESTERDAY’S BUSINESS AND PRICES A sale of Bruce Woollen Company’s shares at 30s reported at the afternoon call was tlie only transaction recorded yesterday. lhere nas n good demand for all. Government stocks and bonds, but with no change in values. The 41 per cents, all n - turities were wanted at £96 12s. 6d., the 5 per cent. P.O. Stocks and Bonds (1927) at £97 12s. 6d., and the 5/ per cents. (1933) at £lOO 15s. Wellington Gas Company’s debentures were again in good demand at £lO4 IDs. Bank shares were very firm with buyers of Bank of Australasia shares at Lid ss. Gd., National Bank shares at £6 15s 6d., Bank of New South Males shares at £4O 155., Bank of New Zealand shares at £2 12s. 3d., and Union Bank shares at £l4 11s. Wellington Trust and Loan shares were steady at £5 12s. 6d., and Napier Gas preference shares at £9 10s. Insurance shares were quiet; sellers quoted £3 )7s. cum dividend for National Insurance 30s. 3d. for New Zealand Insurane!’shares, and £2 Is. 6d. for Standard Insurance shares. New Zealand Refrigerating shares, 10s paid, worn steady at Bs. lid. Continued firmness was shown by Huddart-Parker shares, the ordinary at 425. 9d. and the pieference shares were firm at 20s. 4d. Union Steam preference shares were firm at 20s. There were buyers of Westport Coal shares at 3/s. 9d., and Westport-Stockton preference shares at 6s. 3d. Timber shares were verv firm at late rates. Crown Brewery shares were in good demand at 395. Gd., a dividend of Is. per share has been declared by the directors of Manning and Co. Ward and Co. Brewery shares are firm at 455., and Waihi Mining shares at 30s. 3d. cum dividend. Yesterday’s buying and selling quo-

SALES IN OTHER CENTRES By TeMtaiurn—l’ttF.ss Assocrariox. Christchurch, May ». Sales reported—Bank cf New Smith Wales' .£4l (two parcels); Equitable Building £9 55.; Huddart-Parker. 435. 34 Sales—South British Insurance. 40«. M. (two parcels). Auckland, May ». Soles—War Doan (1939), .£96 17e. 6d.; N.Z. Breweries Debentures. £M<l, : Bank of New Zealand, 52a. 6d.: Bank of New South. W'ales. £4l 55.; South British Insurance. 40«. 3d.; Auckland Gas. 255. 6d.: Hill ami Plummer, 245.; Waihi. 31a. 31s 3d. Dunedin, May >. Zealand Itotrigeratlnr torAA

19s. 3d.; Waihi, 31b.. 31b. 2d.; Howard Smith, 365. 6d; Sales reported—Hilburn Lim® Ml Cement, 325.; Bank of Now Zealand, 625. 6d ; Union Steam (pref.). 205.: D.I C. (pref.). 20s. 9d. MOVEMENTS IN EXCHANGE RATES On May 5 the banks in Australia raised their buying rates on London by 10s. per cent., and there was also a 10s. movement in the selling rate. There was an immediate response to this in London, for on May 8 the buying rates London on Australia were reduced by 10s. per cent., and the selling rates raised 10s. Che movements are due largely to the scarcity of money in Australia. It is. interestin'* to compare the Australian rates onTxmdon with the New Zealand rates on London. They are as follow:

The New Zealand rates are very much cheaper than Australian, and th’ cl'sparity is not likely to last long Australia exercises an influence ot New Zealand rates. As an i’‘ .. . tion of the rates needed to b' p-' J by borrowers in Australia P may be stated that the Melbourne and Metropolitan Tramways Board lias just raised a loan of £500,000 . on which 6J per cent, interest is being paid ana tho currency of the loan is 15 years. The Wellington City Council is issuing debentures for £59,000, and the interest is. only 5 per cent. S. MANNING AND CO., LTD. The balance-sheet of S. Manning and Co Ltd. for the year ended March 31, 1924, shows that tho receipts from brewing, bottling, interest, and rents amounted to £22,653, as compared with £33,613 in the previous year. The general expenses and rates and taxes absorbed £10,782, as against £23,356, leaving the net profit at £11,871, against £10,257 last year. Adding the amount of £3OOO brought forward from the previous year, there is available £14,871. The dividend for the year at the rate of 10 per cent., half of which was paid as an interim dividend, absorbs £12,000, leaving £2871 to bo carried forward. It is stated in the report of the directors that during the past year negotiations were completed with the New Zealand Breweries Ltd. for tho sale of tho company’s brewery and maltho-use properties; also the plant and stock. The accounts as presented represent three mouths’ trading, to June 30, 1923, when the pale was completed, and twelve months’ income from all sources. The principal items in the balance-sheet with those for last vear in parentheses are as follow:—liabilities: Capital, £120,000 (£96,000); reserve fund, £60,711 (£50,000); sundry creditors, £175 (£17,540); suspense account, £1627 (nil): property depreciation account, nil (£13,000); balance, £BB7l (£7800). Total, £191,384 (£184,340). Assets: Freeholds, leaseholds, and mortgages, £101,387 (£131,712); sundry debtors, etc., £3648 (£17,669); New Zealand War Bonds, £22,763 (£10,000); cash in bank, £8376 (£20,294). Total, £191,384 (£184,340): BUTTER AND CHEESE During the past four or five weeks the markets for both butter and cheese advanced. The top price for New Zealand salted butter on April 11 was 1525. per cwt., and on May 2 1745., a rise of 225. in three weeks. Unsalted' New Zealand butter roso during the same period from 158 s. to 1825., an advance of 245., and Danish butter rose from 1745. to 2025., or 28s. per cwt. Values advanced rapidly between April 16 and May 2, due to the movement in Danish butter, heavy German purchases of Danish butter restricting the amount available for the British markets and thus forcing up prices. The rise in Danish was immediately followed by speculative buying of colonial 'cutter, and prices were further hardened, by th® fact, that considerable quantities of New Zealand and Australian butter were being held off the market.. It is stated now that the spot quotation is easier, and the market generally is slow at the advance. The fact that a largo quantity of butter is being held in store, naturally has a depressing effect, and wo must look for a further decline in prices. Tho moment prices begin to drop there will be a rush of holders to sell, which will further help to depress values. It is now getting late in the season, and for tho immediate future much will depend upon supplies from the Northern Hemisphere: if the weather conditions aro adverse, mid the European season is late, New Zealand and Australian butter may be cleared before tlie flush of the European make conies on the market. The only statistics available in respect- to European prodeletion is the quantity imported into the United Kingdom during January • and February this year, and this totalled 326,606 cwi.. as compared with 290.107 cwt. in the two months of 1923. and 223.051 cwt. in the corresponding two months of 1922. There lias been a steady increase each term, and it is probable that the imports from tho Northern Hemisphere this vear will show a substantial increase It is reported that there has been sonic inquiry for New Zealand butter for Mav-June-July shipments, at Is. 4d. to Is. 4Jd. per lb. f.0.’0.. but forward buyers show no eagerness to operate at these prices. The ship ments of butter from New Zealand for the nine months to Apiil 30 amounted to 910,000 cwt., or 140.500 cwt. Jess than ia the corresponding nine months of tlie previous season. Tim butter awaiting shilpmcnt is 91.000 cwt., as compared with 79,000

cwt. al the corresponding date last year, and it is estimated that 56,000 cwt. will bo shipped during the current month. Cheese prices .advanced from 84s. per cwt. on April 11, to 88s on May 2, and the market is slow His reported that a considerable’quantity of New Zealand cheese is still being held off the market, and the existence of this heavy supply in store must prevent the market firming for some time. Canadian cheese will be reaching the market in some volume next month, and in July the flush of tho Canadian output will be available.

COLONIAL AND OTHER PRODUCE. Aus.-N.Z. Cable Assn (Rec. May 9, 9.45 p.m.) London, May 8. Wheat cargoes are quieter,. owing to better strike news from the Argentine. The fall of the franc has lessened tlie demand from France. Parcels are 3d. per quarter lower. Parcels bv tho Balranald brought 475. 6dat Manchester; tlie Berwickshire’s brought 475. 64. Spot trade is firm. Australian 495. Gd. Flour from Australian store, 355. 3d. Oats are held for an advance of 3d. to Gd. Peas are steady but quiet. Sugar, granulated, 445. IJd. per cwt. PRICES OF METALS. Aus.-N.Z. Cabt.'e Assn. (Rec. May 9, 10-30 p.m.) London, May 8 Copper, £63 18s. 9d. per ton; forward delivery. £63 16s. 3d. Lead. £27 15s. and £26 15s. Spelter. £29 15s. and £3O. Tin. £224 2s. 64. in both positions. Bar silver, 33 5-16 d. per ounce standard. OCEAN STEAM NAVIGATION CO.’S PROFIT. (Rec- May 9, 9.45 p.m.) London, Mav 8. The annual report of the Oceanic Steam Navigation Company (White Star Line), with reference to the Australian service, savs it proves disappointing. Conditions affecting exports from Australia have been unsatisfactory and are accentuated by over-supply of tonnage, due to lack of co-operation among steamship companies engaged in the trade. The company had a profit balance of £3,740.000, after certain deductions. WAIHI SHARES. (Rec. May 9. 9-45 p.m.) London, May 8. Waihi shares.—Buyers, 305.; sellers, 325. GRAND JUNCTION RETURN. Auckland, May 8. The Grand Junction Companv. for the period ended April 19. treated 4370 tons of ore for a return of 13190 z. of cold and 3904 oz. of silver: for three months ended the same date: 18.800 tons of ore yielded 5&350z. of gold and 11,0360 z. of silver. MELBOURNE PRODUCE MARKET. Melbourne, May 9. Oats, 3s. per quarter. Barley, English, 4s. to 4s. 3d., Cape, 3s. 6d. to 3s. 7d.. Potatoes. £4 to £5 per ton. Onions, £7 to, £B. The tone of tho hides market i« firmer. Kips show a. slight advance; all other grades are firm at late rates. SCOTTISH-A US.TR. ALT A N MINING COMPANY’S PROFIT. Aus.-N.Z. Cable Assn. London, Mav 8. Th« Scottish-'Australian Mining Company reports a profit of £78.819. It is proposed to place £12,000 to reserve, and carry florward £23.069 subiect to taxation, which is not yet determined. EXCHANGE RATES. Aus.-N.Z. Cable Assn. (Rec. May 9, 9.45 p.m.) London, May 8. Following rates of exchange on May 8, as con-.Da.red with par rates, or as averaged first half of 1914. are as follow:—

Marks are quoted at 18i billions to £1 The par rate is 20.43. CUSTOMS REVENUE. Customs revenue collected at the port of Wellington yesterday totalled £2850.

Sellers. Buyers. N.Z. GOVT. LOANS— £ s. d. £ s. d. 4; n.c. Inao. Stk., 1939 96 12 s — 41 n n. Insc. Stic. 193E 96 12 6 fii n.c. Inac. Stk., 19-*$ lUU lb 0 —■ 51 p.c* Insc. Stk.. 192/ - 97 15 0 4/p’c. W ar Bonds. 1939 96 12 6 — 41 p.c. War Bonds, 1933 96 12 41 n.c. War Bonds, 19o0 96 12 6 — 6 —— 5i p.c. War Bonds, 19331(X) 15 5 n q P.O. Bonds. 19© 97 12 0 —— 6 98 0 0 5 p.c. P-0. In fc. Stk.. 97 13 6 98 0 0 debentures104 10 Wellington Gas 0 N.Z. Breweries BANKS— . 1 0 9 Australasia/ 13 5 6 National 6 15 6 — 40 15 0 — New Zealand. 2 12 3 — 14 11 0 ■ - FINANCIAL— 9 12 Equitable Building- .. Well- Trust, Loan .. 6 5 12 0 — GAS— Napier (nref.) INSURANCE9 10 0 3 17 National (cum.) —— 0 ■ 1 10 3 Standard • MEAT- PRESERVING- — 2 1 6 N Z. Befris-erating (10b.) 0 8 11 —- TRANSPORT— 2 2 Huddart-Prirker (ord. 9 — Ditto (pref.) ....... 1 0 4 ——- Union Steam (pref.) .. WOOLLEN— 1 0 0 0 19 Kaiapoi (ord.) —— 0 Ditto (contnb.) —-. 0 9 0 COAL1 17 Westport Westport J Stock ton 9 (pref.) 0 6 3 Wains’ TIMBER— 0 18 3 t 9 Leyi'nnd-O’Brien 2 0 0 — Rotoiti 1 3 6 — Tarincnmutu MISCELLANEOUS--1 13 6 — — 41 0 0 Crown Brewery 1 19 6 ■ ■■ 0 12 0 1 17 0 Wairarapa Farmers’ 0 17 0 —— Ward and Co mining— 2 5 1 10 0 2 7 0 Waibi (cum.) 3 —

Burins: Rates. Australia New Zealand Usance. on London. on London O.D . 57/6 dis. 40/- dis. 30 days 65/- dis. 47/6 dis. 60 days 72/6 dis. 82/6 dis. 55/- dis. 90 days 65/- dis. 120 days 92/6 dis. 757- dis. T.T. .. 50/- dis. — Selling. 5/- dis. O.D. .. 35/- dis. T.T. .. 30/- dis. 5/- pr< m.

May 8. May 5. Par, Now York, dole to £1 4.37 4.383 4.86 Montreal, dels, to £1 4.45J 4.454 4.86 2-3 Brussels, francs to £1 87i S23 25.225 Paris, francs to £1 ... 71.45 67.85 25.225 Stockholm, knr. to £1 16.53 16 55 38.159 Christiania, knr. to £1 31.40 31.63 18.159 Copenhagen, knr. to £1 7.5,67 25.87 18.159 Rome, lire to £1 984 975 25.22i Yokohama, pence to yen 22 213 24.43 Calcutta., pence to rupee 165 165 24.43 Hong-Kong, pence to dol. 283 284 25