FARMING & COMMERCIAL

Dominion, Volume 18, Issue 195, 13 May 1924, Page 10

FARMING & COMMERCIAL

NEWS AND NOTES

AUCTION SALES FORTHCOMING SALES. TO-DAY: Sales will be held at: 63 Hawker Street, Wellington, 10.30 a.in. —Salo of furniture (Twiss and Hodg--106 ll Lainbton Quav Wellington, 10.30 a.in. —Sale of shop fittings (E. Johnston and Co.). Waitara.—Sale 01 pedigree Jersey herds, account Messrs. .S. and vv. -b. Knuckey (Newton King). "VVaipiko,” Cheltenham, near Feilding. -Sale of Air. C. G. C. Dernier s Jersey herd (Wright. Stephenson and Co.). 157 Lambton Quay. Wellington, 1 p.m.— —Salo of unclaimed and pillaged cargo (E. Johnston and Co.).' 78 Lambton Quay, Wellington, 1.30 p.m. —Sale of furniture (C. AV. Price). 53 Cuba Street, Wellington. 2 p.m.—Sale of furniture (Fordham and Child). 195 Lambton Quay,'Wellington, 2.30 p.m. —Sale of residence situate 29 Parade, Island Bav, also properties situate 157 The Terrace, 140 Willis Street, and 11 Arlington Street (Harcourt and Co.). Levin Yards, noon.—Stock sale TO-MORROW. Koputaroa. 1 p.m.—Sale of dairy stock a/c Air. H. K. Walton (N.Z. Loan and Mercantile Agency Co., Ltd.). Cottle’s Lane, Lower Hutt, 1 p.m.—Sale of cows and sundries a/c Mr. F. Gorrie (Dalgety and Co.). Johnsonville Yards, 1 p.m.—Stock Sale. Chamber of Commerce. Customhouse Quay. Wellington. 2.30 p.m.—Sale of properties situate Alain Hoad, Lower Hutt, and 231 Tinakori Hoad (U. E. Leighton). THURSDAY. Waikanae, 1 p.m.—Stock sale. Pahiatua 2 p.m.—Sale of property situated IJ miles from Mangatainoka Station (Wairarapa Farmers’ Co-operative Association, Ltd.). FARMING INTERESTS LONDON MARKETS HIGH COMMISSIONER’S CABLED REPORT The Department of Agriculture has received the following cablegram, dated May 10. from the High Commissioner for New Zealand, London:— Butter. Market continues quiet, with fair inquiry, Germany buying large quantities of Danish. Official quotations are:— New Zealand. Salted. Finest. —May 10: IGSs. to 1725. per cwt. (Is. 6d. to Is. Gid. per lb.); May 3. 170 s. to 1745. per cwt (la. Old. to Is. 6Jd. por lb.); April 26, 1645. to 168 s. per cwt. (Is. 5Jd. to Is. 6d. per lb. Unsalted: May 10, 1765. to 182 s. per cwt. (Is. 63d. to Is. 7Jd. per lb.); May 3, 1765. to 182 s. per cwt. (Is. 6?d. to is. 7|d. per lb.); Api-il 26, 1665. to 1725. per cwt. (Is. 51d. to Is. &Id. per 5b.). Other qualities: May 10, 130 s. to 1665. per cwt. (Is. 2d. to Is. 5,4. per lb.). Australian: Shlted, finest: .May 10, 1565. to 160 s. per cwt. (Is. 4Jd. to Is. 5Jd. per lb.); May 3,160 s. to 1625. per cwt. (Is. 51d. per lb.); April 26, 150 s to 158 s. per cwt. (Is. 4Jd. to Is. sd’. pci- lb.). Unsalted: May 10, 1625. to 1665. per cwt. (Is.- sid. to Is. SM. per ’.b.); May 3,164 a. to 1665. per cwt. (Is. sjd. to Is. 53d. per lb.); April 26, 1545. to 158 s. per cwt. (Is. 4Jd. to Is. sd. per lb.). Other qualities: .May 10. salted. 124*. to 1525. per cwt. (Is. Ud. to Is. 4Jd. pci- lb.); unsalted, 130 s. to 1565. per cwt. (Is. 2d. to Is. 4.3 d, per lb.). Argentine: May 10, 1465. to 1525. per cwt. (Is. 3id. to- Is. 4}d. per lb.); exceptional, 15-ts. per cwt. (Is. 4Jd. per lb); May 3. 148 s. to 1565. per cwt. (Is. 4d. to Is. 43d. per ib.); April 26, 138 s. to 140 s. per cwt. (Is. 2?d. to Is. 3d. per lb.). Other qualities: May 10. 130 s. to 1445. per cwt. (Is. 2d. to Is. 3Jd. per lb.). Danish: Market ■ steady. May 10, 208 s. to 2125. per cwt. (Is. IOJd. to Is. 103 d. per lb.); May 3, 2025. per cwt. (Is. 9Jd. per lb.); April 26. 1745. to 1765. per cwt. (Is. 6Jd. to Is. 63d. per lb.). Cheese. The holding of large quantities has had a depressing effect, and 1 Canadian new season’s make is now being offered forward. English scarce. Steady demaud for New Zealand available goods. Official quotations are:— English.—Finest farmers : May 10, 140 s. to 1455. up to 148 s. per cwt. (Is. 3d. to Is. 4d, per lb.); Mav 3,140 s. to 1455. per cwt. (Is. 3d. to Is. 3Jd. per lb.); April 26. 140 s. to 1455. per cwt. (Is. 3d. to Is. 3ld. per lb.). New Zealand: May 10, coloured and white, 84s. to 86s. per cwt. (9d. to 9}d. per lb.); May 3, coloured and white, 86s. to 88s. per cwt. (9|d. to 91d. per ib.); April 26, coloured and while, 86s. to 88s per. cwt. (fljd. to 9.1<1. per lb.). Shipments of New Zealand produce

arrived this week per ss. Kia Ora, Kumara, Westmoreland; last week, Reinuera. Hemp and Wool.

Hemp—Manila market quiet at beginning of week, but closed firm. No business reported. “J" Grade April-Juno shipments quoted at .£3B. sellers; MayJulv flhipmcints, .£37 10s. and value. New Zealand market unchanged. Wool.—Sales continue with good attendance and active support at last prices. Peas and Beans, Peas.—Blue: Consumptive demand better for all descriptions. Present values are:—Japanese, on passage, los. per iton o.Lfi.; April4M.ay shipment, .£2O. Small Baltic. April'.-May shipments, £2O. Dutch, han.-bpiokqd, Apnb-May shipments. £2l 10s. Tasmanian, on passage, £‘>o; Aprif-May shipments, £lB 10»b spot selling at £2l 10s, to £22, ex store. New Zealand spot nominally £l7 to AL). Maple: Supplies plentiful, and hew Zealand excessive. English sel.ing at sas. Quarter. New Zealand offered at iOs. to 80s. Tasmanian, best, 85s. to 905., ex. store. , , Beans—Market quiet, with fair trade for choice winter and spring crops at 495. fid. and 60s. per quarter; small round, 70s. to 75s Grass Seed, Fruit, and Eggs, Cocksfoot.—Danish not offering. Quotations for small lots 86s. to 925. per cwt. Fruit.—The balance of the Cornwall shipment of apples is practical.y disposed of at prices similar to thoss given last week with the exception of Adam’s Pearmains, Ribston Pippins, and Golden Pippins, which were severely attacked by frost and heat and had to be disposed of at the following prices:— Adam’s Pearmain, 6s. to Bs. per case; Ribston Pippin, 2s. to Bs.; Golden Pippin, ss. Hororata is duo to-day (May Australian Apples.—Better varieties of all descriptions have been sold for ss. 6d. to Ils. per case. Eggs.—Market quiet and slow demand. English, Irish, Danish, and Dutch, 13s. fid. to 15s. 3d. per long 100; Styrian. Lithuanian, Italian. Belgian. 13s. to 14s. per long 100; Irish duck eggs, Dutch duck eggs, 13s. 6d. to 14s. per long 100. OTHER ADVICES The New Zealand Producers’ Co-oper-ative Marketing Association has received the following report from London:— “Butter: Market steady, New Zealand, salted, 168 s. to 1725.; unsalted, 1745. to 180 s.; Australian, 1565. to 1605.; Argentine best 1525., inferior. 130 s. to 1385.; Danish, 208 s. to 2125.; Dutch, 2045. Cheese: Market dull. New Zealand. white and coloured. 84s. to 855.; English factory, 70s. to 80s.” The National Dairy Association of New Zealand. Ltd, have received the following cablegram from London: —“Butter: Market quietly steady. New Zealand salted. 168 s. to 1725.; Danish salted. 208 s. to' 2125.; Australian salted. 1545. to 1605.; Argentine, 144»5. to 150 s. Cheese: New Zealand, 81s. to 855.; English fartory, 70s. to 80s." The New Zealand Al eat Producers Board has received the following cablegram from its London office, dated May 9, advising the Smithfield delivered prices at that date as follow:—New Zealand wethers and maidens Canterbury quality, selected brands, 561 b. and under 7id. per lb.. 571 b. to 64fb., 7d.. 651 b. to 721 b.. 6Jd.; other brands. 561 b. and under, 61d., 571 b. to 641 b., 6Jd., 651 b. to 721 b., 6Jd. „ , . New Zealand ewes, 641 b. and under, SJ:L New Zealand lamb. Canterbury quality 361 b. and under. 10jd.. 371 b. to 421 b., 10(d., 431 b. to 501 b.. 9jd.; seconds, Iflid. ; selected brands, 361 b. and under, Hit., 371 b. to 421 b., Ud.; other brands, first quality, 421 b. and under, IOJd.; seconds. 9Jd. New Zealand beef not quoted. Argentine chilled beef, ox fores, 41d.; ox hinds. 63d.; Argentine frozen beef, ox fores, 41t1.; ox hinds, 6d. Frozen pork, not quoted. Mutton market is firmer, demand is better. Lamb market strong; there is <1 brisk demand. The Bank of New Zealand, produce department, has received the following advice from its London office, under date May 9:—Bui ter. 170 s. per cwt. Cheese fair inquiry. 85s. I 1 rozen meat: The market for wether mutton is improving slowly. Prospects for ewes appear more favourable. Lamb is in good demand. No quotations for beef. Wethers, light, fild. to 7Jd. per lb.; wethers, heavy. 53d. to 6Jd.; ewes 4Jd to 53d.; lambs, under 42 s. 10d. to lOid.; over 42’s, 9Jd. to 10d., seconds, 93d. t° 10 ( L — T , ! I Messrs. Levin and Co.. Ltd., have received the following cablegram from their London agents, dated May 10:— “The following prices are current for average farmers’ lots at the sales now proceeding: Greasy merinos. ,32d. to 36d- ner lb.; scoured merinos, 4s. JOd. per lb.: greasy super halfbreds 50 s 26d. to 33d. per lb.: greasy fine haltbreds. 50 to 56’s. 23d. to 29d. per lb, : greasy halfbreds, 48 to oO s, ~od. to per lb.; greasv fine crossbreds, 46 to 48’s, J9d. to 21d. per lb.; greasy medium crossbreds, 44 to 4G s, 18d. to 20d per lb. : greasv coarse crossbreds, 40 to 44’s, 17d. to 19d. per lb. ; greasy low crossbreds. 36 to 40’s. IGd. to 174<1. per lb.: greasv crossbred pieces. 15d. to 16);d. per lb.; greasy crossbred bellies. 14d. to 16d. per lb.; greasy crossbred locks, lOd. to lid. per lb.” WAIRARAPA P. & A. SOCIETY ANNUAL MEETING. (From Our Own Correspondent.) Carterton, May 10. The annual meeting of the Wairarapa P. and A. Societv was held at Carterton to-day, Air. J. G. Oates, president, presiding over a good attendance of members. The annual report and ba-ance-shest, showing that the society had enjoyed a successful year, were adopted. The importance of increasing the membership was stressed. The P. and A. building account showed a profit of £l3B 17s. 4d for the year. Officers as follow were elected:—President, Mr. J. G. Oa'es; vice-presidents, Messrs. T. O. Haycock and AV. McLeod; treasurer. Air. E. Eagle: auditor. Air. IL M. B. Trapp: commitlee. Sir Walter Buchanan, Messrs. AV. Howard Booth, A E. Booth, 0. A. Cadwallador, W. C. Del’er H. Davsh, Martin Elgar, J. Fisher. AV. Fislier. G. AV. Hart. AV. A. Pike W. A. Renal!. IT. Ilayner, T. Reid, AV H Robieson, G. L. Sievers. AV. A. Saywell. A. Tocker. and. Walter Tilson. Mr AV f. L. Baskeville was accorded a. vote of thanks for his interest in the work of the society during his residence in Carterton. It was decided that meetings of the committee bo he'd nt Martinborough, Featherston, and Greytown during ths coming years. Sir AValter Buchanan and Mr. 1. O. Haycock were elected delegates to the annuo 1 conference of tZio Council of Agriculture. It was decided to support the Farmers Union in having it made compulsory to dehorn cattle, other than stud stock, after two years old. . The Department of Agriculture forwarded a copy of the regulations to prevent the spread of foot, am) mouth disease in the i)ominion. WELLINGTON WINTER SHOW The Nelson Provincial Progress League recently booked space for a provincial court at the forthcoming Wellington Winter Show and a prominent site ha.s been allocated to it. Nelson has always been called the “garden” of the Dominion, and its advantages will no doubt bo demonstrated at the show by a very fine display. Marlborough has not been

ablo to make a provincial exhibt this voar on account of the bad season they have experienced, but they promise their whole hearted support for next year. Other districts have not yet replied, but it is expected there will be courts representing them at the show. The question of where to hold the horse jumping contest will bo gone into at the next meeting of the committee, and as entries have already been received and a great deal of interest shown in this section no effort will he spared by the committee to find suitable grounds on which to hold the contest.. Applications for space have reached the secretary from many parts of New Zealand. STOCK SALES Messrs. Dalgety and Company, Ltd., report Itavinß- held their flortniightly sale in the Upper Hutt yards on Alay 8, when they offered a small yarding of sheep and cattle, the c.ass of the former stock being inferior. Quotations arg as under: Poor condition store ewes, 16s. to 155.; light-weight fat cows, £4 to £4 17s. 6d.; empty cows. 30s. to £2 55.; vealers, £2; springing cows, £8 to £10; springing heifers. £4 to £5 ss. Alessrs. Dalgety and Company, Ltd., report having held a clearing sale on account of the Cluny Friesian Farm, at Upper Hutt, on Alay 9. The attendance of buyers was. satisfactory, but the demand for the dairy stock offered was exceptionally dull, and very few of the cows and heifers brought forward were sold. A few head of good heavy-weight fat cows were submitted, and these commanded keen competition, sales being effected at from £9 to £lO 10s. A few dairy cows exchanged hands at from £lo'to £l6.

Alessrs. Dalgety and Company, Ltd., Palmerston North, report having held their annual cattle fair at Hunterville, on Alay 8, when an entry of 803 head of cattle came to hand. There were no down-country buyers, consequently the demand for grown bullocks was not at all keen, and the majority of these were passed at auction. There was very fair competition for ths younger cattle and a good clearance was effected. Quotations: AVeaner heifers, 305.; mixed weaners, 325.; bust-fed weaner steers, 355.; yearling steers. 375. to £2 45.; 20month steers, £2 175., £3, £3 10s., to £3 155.; 2}-year steers, £4 Ils. to £5 Is.; 3-year steers. £5 55.; fat and forward bullocks, £7 2s. 6d. to £7 55.; 4year bullocks, £6 ss. to £0 10s.; fat bullocks, light, £7 12s. fid.; store cows. 205., 265.. 285., 295., to £2: forward cows, £2 12s.' 6d.; Hereford cows, r.w.b., 38s. to £2 165.; P.A. cross cows, r.w.b., £3 35.; fat cows, £3 155.. £4, to £5 Is. Alessrs. Dalgety and Company, Ltd., Palmerston North, report having a very good entry of both sheep and cattle at their Feihling sate, on May 9. Competition for store sheep was not particularly keen, but all lines, also all fat sheep, of which there was a good yarding, changed hands. Quotations: Light fat cows. 20s. 9d. to 225. Bd.; forward ewes, 20s lOd.; fat lambs, 225. to 235. 6d.; fat 2-tooths, 295. 9d. to 30s. 7d.; fat wethers, 33s 3d. 345. 6d.. to 355. 6d.; 4-tooth wethers, 295. 2d. to 80s.; 2-tooth wethers, 25s 3d., 255. 7d.: empty ewes, 13s. 3d., 9d., 15s. 2d., to 16s. 7d.; small temhs. Bs. 4d., 10s. 4d., to 11s 6d.; b.f. lambs. 13s. 9d. 14-s. Id.. 15s. 2d., 16s, 7d., to 18s. 7d.; fair w.f. lambs, 18s. 6d.; heifers at drop. £5 7s. fid ; forward cows 355. £2, to £2 2s. 6d. : bust-fed weaner steers. 335. to 365.; bust-fed wvaner heifers. 235.; 21-year steers, £3 10s.; rough 2-vear steers £2; rough yearling steers, 335.; cows with calves. 355. to 2«. Messrs. 'Abraham and Williams. Ltd., report as follows on the Palmerston North sale, held on Alay 8: —A fair yarding of both sheep and cattle came forward. Sheep sold particularly well. Cattle sold at late rates. We quote:Sheep- Fat wethers. 31s. to 325. 10d.; fat ewes. 20s. 9d.. 225. Bd. to 235. Bd.; forward ewes 15s. 6d., 175,. 195., 20s. 8d», to 22s <<L; lambs, 15s„ 17s. fid., to 21s. 9d. Fat lambs, heavy, to 30s. Catt.e: Fat cows. £3, £3 55., £4 6s. £4 9s. to £4 17s 6<L; store cows, 20s. to 305.; heifers. £3 12s 6d to £4; springing cows, £3 3s. 6d.. £4 Bs. to <X’5 12s. 6d. Messrs. Abraham and WiW’ams. Ltd., rpnort on the Fei’dinsf sale, neld on Ma.Y 9 eP as follows:-We had a heavy yarding of both sheep and cattle. Sheep sola well at late market rates. Some very nice pens of bullocks were yarded, but competition was not keen, althoughi we managed to quit several lines Prreatoh. AVo quote;—Sheep: Fat wethers, 335. Id., 345. 10d„ 355. 2d., to 365. Id.; fat ewes, 18s 19s. Bd., 21s. 3d., 225. 7d., to 235. 3d.;’ fat lambs. 17s 7d. to 255.; ewes in lamb to S.D. rams, 265. to 265. 4d.: nmntv ewes, 16s. to 17s. 6d.; forward wethers. 27e. 6d„ 29s 7d. to 335. Id.; ewe lambs. 195.; wether lambs, 18s , mixed lambs, Ms. to 17s. Fat cattle: Bullocks, light. £5 145.: cows, £3 45., fid to £5 25.; runners, £2 165.; p A 4-vear bultecks. £6 2s. 6d.; 2 and 3vear steers. £4 7s. fid.; 3-vear steers, £5 8s : Hereford cows, in calf. 265. to £2, w: ner steers, small. 25s ; heifers 16s ; mixed P.A yearlings, 285.; mixed P.A. 2 -ear-olds. £2 10s. Gd.; 3-VMr P.A. heifers r.w.b., £2 165.; cull dairy cows, qn, 355.. £2 to £3 Ips.; store cows, 20s'.’ to 305.; weaner heifers, <s. to las. COMMERCIAL ITEMS WELLINGTON STOCK EXCHANGE YESTERDAY’S BUSINESS AND PRICES Sales of 4i per cent. Inscribed Stock (1938) at £9gTss., Bank of New Zealand shares at £2 12s. Gd.. and National Timber shares at — s>- •«* were reported at tho afternoon call. There was a strong demand for stocks and bonds, and practically all denommations and all maturities were in request. For the 4.) per cents, there were bids of £96 12s. Gd. for the 5 per cent. P.O. stocks and bonds £97 155.. and for the 51- per cents. (1933) £lOO 15s. Wellington Gas Corap'liiv’s debentures wore in demand at £lOl His-- ami AVellington Racing Club debentures were on sale at £lOB 10s. Bank shares were firm, rsational Bank shares were 6d. higher at £6 15s Cd., Bank of New South Wales shares at £4O 155., cum dividend. Bank of Now Zealand shares at £J 12s. 3d., and Union Bank shares at £l4 135., the latter showing an advance of Is- 6d. New Zealand Insurance shares were in demand at xJs. 9<l and there were sellers of National Insurance shares at £3 18s., cum, and South British Insurance shares at 40s. 6d. New Zealand Refrigerating Comnanv’s 10s. paid shares were m demand at Bs. Ild. Huddart Parke; shares were firm, tho ordinary being in demand at 425. 9d., and the preference at 20s. 4<l. Union Steam preference shares were steady at 20 s There was a demand for AA’cstport Coal shares at 375. 9d., and for AVest-nort-Stockton preference shares nt 6s. Timber shares were steady with buyers of Kauri Timber shares at 295. 3d., Levlnnd O’Brien Timber at 405., Rotoiti' Timber at 235. 6x1., Taringamutu Totara at 335. 6d., mid National limber 225. 3d. Crown Brewery shares wore unchanged nt 395. 6d., nnd Al nrd and Co. brewery shares at £2 4s. 9d. A'esterdny’s buying and selling quot-

SALES IN OTHER CENTRES

BY Telegbaph.—press association. Christchurch, May 12. Sales reported: New Zealand Government 4J per cent. Inscribed (1938). £96 155.: New Zealand Government 5 ner cent. Inscribed (1927), £97 1"S. 6d. ; Westport-Stock-ton (ord.), fis. 6d.: Kauri Timber. 305.: B«uk of Australasia, £l3 6s. 6d.: National Bank of Australasia (£lO paid, new issue), £l3 ss. (two parcels). Bale: Manning’s Brewery. 265. 9d. Dunedin, May 12. Sales reported. Bank of New Zealand, 525. 6d. (seven parcels): 5J per cent. Inscribed Bonds (1927), £lOO. ' Auckland, May 12. Sales: Union Bank, £l4 125.; South British Insurance, 40s. 3d.: Auckland .Gas. 255. 6d.; ditto (contrib.), ss. lOd.; National Timber, 225.; Wilson’* Cement, 30b.: waini, 318. 3d. THE WOOL POSITION The current London wool sales are not moving as satisfactorily as one could wish. At the opening on Tues day last prices showed no change on tho closing quotations of the previous sale, and towards tho week-end there was a drop of 5 per cent, in certain classes of wool, and the demand was irregular. From tho tone of tho present series some, interested in tho wool trade, aro of the opinion that for the present the peak in wool values has been reached, and with increasing production values will gradually decline. At the current London wool sales most of tho offerings consist of wool bought by speculators in Australia and New Zealand. It will bo remembered that at the local sales prices advanced each month, and in some cases the advance was substantial. Those who made speculative purchases in January and February can have little hope of re-selling in London at a profit, although earlier purchases yielded handsome profits. It is doubtful whether in the future London w'ool sales will be accepted as a guide to the wool .position, because London offerings will consist mainly of speculative purchases and tho offerings will lie small. No doubt a good deal will depend upon supplies in the coming season. That supplies will be greater seems certain, for from both Australia and New Zealand increased supplies may bo expected. Australia has recently experienced, favourable weather conditions, while in New Zealand there has been an increase in the flocks. Shipments to Britain from the River Flate, Uruguay and South Africa show expansion, and the supplies from these sources are expected to show further expansion in the coming season. ' If New Zealand and Australia add to this there should be on the whole a substantial increase in supplies. If prices are lowered the demand will strengthen, and this should drive prices up again, because supplies will not for some time to come lie sufficient to meet all demands. Tho wool market promises to bo very irregular in the coming ueason, and it is a kind of market that sellers will not like.

NORTHERN STEAMSHIP CO.

The balance sheet of the Northern Steamship Co., Ltd., for thp year ended March 31. 1924, shows that the profit, after making provision for depreciation.' insurance, etc., amounted to £12,978, as compared with £13,237 in the previous year. Transfer fees amounted to £ll. and there was brought forward from the previous year £6225, making a total of filff.2l4. Out ot this an interim dividend at the rate of 7 per cent, per annum was paid on November 17 last and absorbed £5649, and it is now proposed to pay a dividend at. the rate of S per cent, per annum, absorbing £6456. "leaving £7103 to be carried forward The dividend for the year is at tho rate of 71 as compared_ with 7 per cent. last year. The dividend will, be payable in Wellington on Thursday or Friday. The items of the balance-sheet, with those for last year in parentheses, are as follow:— Liabilities.—Capital paid up, £161,412 (£161,412) : insurance account, £49,417 (£44,119): insurance account No. 2, £16,290 (£14,312); boiler and repairs account, £8999 (£12.000); nnclainied dividends. £6O (£42) : sundry liabilities. £63.810 (£43,019); bills payable, £Bl2 (£892): balance, £13,565 (£11.874): total, £314,365 (£287,670). Assets. —Vessels, wharves, etc., less depreciation, £206,356 (£194,803); Quay ’ Street premises, £12,492 (£12,757); investments. £47,338 (£31.685) : coal and stores on hand, £11.631 (£12.312); accounts owing to company, £35,740 (£35,390); unexpired insurance premiums. £BOB (£723); total, £314,365 (£287,670). IXLNDON WHEAT MARKET. Aus.-N.Z. Cable Assn. London! Mav 10. Wheat cargoes aro steadily helfl at about late rates, but with liberal world shipments the demand is quiet. The same may be said of parcels. CUSTOMS REVENUE. Customs revenue collected at the port of Wellington yesterday totalled £6893. WAIHI SHARES, (Rec. Mav 11. 11.5 p.m.) London, May 10. Waihi shares., buyers 31s. 6d., sellers 325.

ations were as under- — Buyers. Sellers. £ 6. d. N.Z. GOVT. LOANS- £ *. • d. 4\ rtf'. Tnsc. Steck. 1939 95 12 6 — di nr. Insc Stcr'k, 193° 96 12 6 53 n c. Inp.c. StoeK. 1933 100 15 0 — 5J pc. Insc. Stock, 1927. 0 t>. ,,c War Ttori'U. °6 12 6 Hl n.c. Wnr Boni's, 1939 95 12 6 —• •« p c. War Bonds. 1938 95 12 6 — 43 n e. War Bonds, 1950 96 12 6 — 5} ,, <• War Bond'*. 1933 ICO 15 0 — 5 r. n P.O. Bonds. ■' 1O2 7 97 15 0 98 5 0 ., V,"' p 6. Insc. Stock. 97 15 0 98 5 0 PEBENTUBES-Wellina-ton Gas IM 10 0 Well Racing Olub — 103 10 0 N.Z. Breworiej ......—. - 10 9

BANKSNational New South Wales > 6 15 6 40 16 0 New Zealand Union 2 12 14 13 3 0 14 15 0 INSURANCE3 18 National (cum.) New Zealand 1 9 9 South British —— 2 0 MEAT PRESERVING— N.Z. Refrigerating (10s.) 0 8 11 — TRANSPORT— Huddart-PaTker (ord.) 2 2 9 3 3 4 I)o.( pref.) 1 0 4 — Union Steam (pref.) ... 1 I) 0 COAL1 17 Westport 9 Westport-Stockton (pref.) 0 6 6 0 18 Wai pa — TIMBERKauri - 1 9 3 — Leyland-O’Brien 2 0 0 — Rotoitl 1 3 6 Taringamutu 1 13 6 —— National 1 2 3 —■ MISCELLANEOUS1 19 Crown Brewery 6 Gates. Ltd — 0 12 0 Howard Smith —— 117 3 Ward and Co 2 4 9 Wilson’s Cement — 1 10 3 MINING 111 Waihi (cum.) G