FARM & COMMERCIAL

Dominion, Volume 19, Issue 46, 18 November 1925, Page 12

FARM & COMMERCIAL

NEWS AND NOTES

AUCTION SALES TO-DAY. Johnsonville. 12.30 p.m.—Stock sale. Municipal Theatre, Waipawa, 2 p.m.— Sale of AVaipawa Hotel and Business Properties, situate Waipawa (Headley. son, and Stewart). 105 Customhouse Quay, 2.30 p.m. —Sale of residence, situate Watt Street, and sections Sefton Street, Highland Park, and Hanover Street, Wadestown (S. George Nathan and Co.). 8 Willeston Street, Wellington, 10.30 a.m. —Sale of English grey canvas and at 1.30 p.m. sale of boots etc.’ (E. Johnston and Co.). Masterton. — Sale oi. horses ami polo ponies (W.F.C.A.). TO-MORROW. Otaki. —Stock sale. 8 Willeston Street. Wellington, 1 p.m.— Sale of linoleums and carpets, also white lead etc., (E. Johnston and Uo.) FRIDAY. Manchester Street, Feilding, 11 a.m.— Sale of Empire Hotel, Feilding (Abraham and AVilliains.). Shed 39, Pipitea Wharf, Wellington.! p.m. —Sale of iron and steel (E. Johnston and Co.). Feilding—Sale of cattle (Abraham and Williams.). FARMING INTERESTS WOOL MARKET BRADFORD TOPS FIRM. (Rec. November 17, 11.45 p.m.) London, November 16. The Bradford tops market is firm and quotations are well maintained, but business is very difficult. —Aus.-fti.Z. Cable Assn. DAIRY PRODUCE MARKET Messrs. A. H. Turnbull and Co. have received a cablegram from their principals, Messrs. W. Weddell and Co., Ltd., dated London November 13, read-, in" as follows:—Danish butter, 2145.'t0 216 Hast week, 218 s.): N.Z. nnsalted, 201 s. to 208 s. t2OBs. to 2125.); N.Z. salted, 2045. to 208 s. (208 s. to 2125.): N.Z. salted, slow Canadian cheese, white and coloured, 115 s. to 118 s. (116 s. to 118 s.); market quiet.

NELSON FREEZING COMPANY Br Telegbai’h—spcctal Correspondent Nelson, November 10. The annual meeting of the Nelson Freezing Co. was held this afternoon. The report stated that the year’s working showed a surplus of ,£834, which was carried forward. Increased stock had been handled, but keen competition was resnonsible for the small profit compared with previous years. The quantity of fruit handled in the wool store constituted a record. Messrs. George Macmahon and IT. Sparrow were elected to fill vacancies on the directorate.

ARMY MEAT SUPPLIES

CONTRACT SECURED BY NEW ZEALAND

(Rec. November 17, 8.5 p.m.) London, November 16.

It is authoritatively stated that Ihe Aar Office has placed contracts for su;> plies of frozen meat with Australia principally. New Zealand secondarily, and South Africa suppleinentarily. Australia’s supplies will lie mainly beef and mutton, New Zealand’s mainly mutton and lamb, and South Africa’s only small supplies of beef. All the supplies are to be delivered in twenty or thirty British depots, weekly or monthly, according to instructions.—Aus.-N.Z. Cable Assn.

CANTERBURY GRAIN AND ♦ PRODUCE MARKET

Bt Telegram.—Press Association

Christchurch, November 17. The potato market is practically over. The Wingatui. which left for Auckland early last week, took 2700 sacks and a few went north by a vessel leaving yesterday. Northern merchants are buying few Dakotas, whites not being wanted, and for reds about T 5 per ton is being offered on trucks, or up to £7 f.0.b.5.1. Most of the very small northern demand is being met by consigned tubers. The Australian boat leaving at the beginning of last week, which it was expected would take a fair consignment, had most of its potato cargo cut out. Some business in next year’s tubers has been done at .£3 15s. to A'4 on trucks for April and .£3 15s. for May. Potatoes are going in very late this year, and it is possible that the March-April market may be bare. The oats position is unaltered, the tone being firm with no change in prices, which were 4s. lOd. f.0.b.5.1. for A’s and 4s. 6d. for B’s before the holidays. Algerians continue very firin and machine-dressed clipped are worth ss. f.0.b.5.1.. or 3s. 3d. qn trucks. Peas continue firm at 7s. per bushel f.0.b.5.1., but there are very few left. There is a very heavy sowing going on and a record crop may be expected next harvest.

Ryegrass is also firmer, particularly Italian, which has been sold at 45.-6 d. to 4s. 9d. f.0.b.5.1., with a tendency to’ further increase. Perennial is also firmer. The cause is a replenishing of stocks by merchants, both north and south.

Cocksfoot is vary firm at 12d. per lb. for standard seed. A strengthening of the Danish market is responsible for the improvement. Fowl wheat is worth 75.-f.o.b. There is a developing inanity, though the market is quiet. The firming of the wheat market abroad will doubflesk he reflected here in a more active demand.

MASTERTON EGG-LAYING COMPETITION LAST WEEK’S RESULTS. (From Our Own Correspondent.) Masterton, November 16. Following are the results for the 32nd week in the Mastorton Poultry Club’s first annual egg-laying competition:— HEAVY BREEDS.

N.Z. FARMERS’ CO-OPERA-TIVE DISTRIBUTING CO. REPORT OF THE YEAR’S WORK. The annual report of the New Zealand Farmers’ Co-operative Distributing Company, to be submitted to the annual meeting which will bo held in Masterton next week, congratulates the shareholders on the improved position of the company, and on the satisfactoryresult of the year’s trading. The annual turnover (excluding sales of land) amounted to ,£i,1G6.667, an increase on the previous year of £131,591. The gross profits increased by £3593 and working expense! wore reduced by £4794. The profit and loss statement, after writing off £566 from the property accqunt and making substantial provision for bad and doubtful accounts and for depreciation of plant and stock, shows a net profit of £5074. Now premises, which were badly needed, are in course of erection nt Masterton, and should be ready tor occupation by the end of the year. The directors express their thanks to those shareholders whose loyal support has enabled the company to make such a good recovery. The retiring directors, Messrs. .1. .1. Bryeo. n. B. Maunsell, and, W. Perry, offer themselves for re-e ection. CUSTOMS REVENUE. Customs revenue collected at the port of Wellington vesterdav amounted to £16.119. P. \ND O. STOCK. (Rec. November 17. 11.45 p.m.) London, November IG. P. and O. deferred stock, £251.

COMMERCIAL ITEMS

WELLINGTON STOCK

EXCHANGE

YESTERDAY’S BUSINESS

AND PRICES

At the morning call yesterday sales of Knwarau Mining shares (two parcels) at Ss. was made on ’Change, and the sales reported were N.Z. Breweries 10 per cent, bonds at 255., and Staples and Co. brewery shares at 455. /It the afternoon call a sale of Kawarau Mining shares at Bs. Id. was made on 'Change, afld sales at Bs. and Bs. lid. were reported, and a sale of N.Z. Breweries 10 per cent, bonds at 255. was also reported. Government sleeks and bonds were quiet as usual. l:or the 41 per cents. £96 was bid. N.Z. Breweries stocks and bonds were in good demand, the former at 245. 7d. and the latter at 245. 11d. Bank shares were firm and in good demand, with buyers of Bank of Australasia nt £l3 195., National Bank at .£6 13s. fid.. Bank of Now South Wales nt £ll 55., cum.'dividend. Bank of Now Zealand at 565. 9d.. Union Bank at d!l4 18s. fid.. Bank of Victoria at £7 10s., and English. Scottish and Australian Bank at £7 10s., cum. dividend. Goldsbrongh, Mort and Co.’s shares at 465. 3d. were up Is., Equitable Building shares were steady at 17s. 6d., Wellington Trust and Loan at .£6 55., Wright, Stephenson and Co. preference nt 175.. and N.Z. Guarantee Corporation ordinary at 10s., and preference nt 21s. Wellington Gas shares. £lO paid, were in demand at £l3. For Now Zealand Insurance shares buyers offered 365. fid., and for South British Insurance. 50s. Huddart-Pai'kor ordinary shares at 435. 9d.-were 3d. higher. Union Steam preference shares were steady nt 2(15., and there was a hid of X 250 for P. and O. Deferred Stock. Westport Coal. shares were firm at 345., cum. dividend. Timber shares were in good demand with buyers of Kauri Timber nt 315.. Ley-laiid-O’Brien Timber at 595„ and National Timber at 225. 2d. Staples and Co. brewery shares wore firm at 445. There were buyers of Colonial Sugar at £5O ex dividend. Burns. Philp and Co. nt 375. Electrolytic Zinc preference at 325. 9d„ Farmers’ 'Auctioneering ordinary at 705., Newton King ordinary at 10s.; and Taranaki Oil at 235., cum. rights. , . Yesterday’s buying and selling quotaBirina worn Jiunder—

SALES IN OTHER CENTRES AucJtland. November 17. Salos- Bank of New Zealand, 565. 9d.; Auckland Gas, 225.; Sanford, 19s. Gd , Moanatalari, Is. 9d.; Kawarau, 7s. 9d. (two sales), 7s. lid., 7s. lOd. (two sales). Dunedin, November 17* Sales: Dominion Rubber, 585., 575. Gd.; Kawarau, Ba. (four sales), 7a. lid. (three Kales). _ n -> Sales reported: Kawarau, 7a. 9d. Cliristclinrch, November 17. Sales reported: New Zealand Government 44 per cent. Inscribed (1938), £66 55.; Bank of New Zealand, ,6s. lid., Staples Brewery, 455. (six parcels). Sales: Bank of New South Wales (cum. div) £4°- New Zealand Insurance, <-6s. 6d.- Kawarau Gohl. 7s. 6d.; Goldsbrough Mort, 465. (two parcels) ; Staples Brewery, 445. 9d. (two parcels), 455.

THE DROP IN WOOL The prices realised at the Wellington wool sale on Monday were certainly a -rent deal better than most brokers expected, although a feeling existed that there would he an advance on the parity of the September-October London sales, and they were led to this belief lyy cable advices from Itondon. the advance was registered and in some cases was exceeded, and as lot after lot was solil the buyers were encouraged to bid. Although there was this welcome improvement. the values realised were much below those obtained at the March sale held in Wellington. Tn the table appended the approximate average value per lb. of the different grades of crossbred wool, also hogget wool, nt the closing sale last season, and the opening sale this season, together with the actual decline and the percentage decline, are

Tlip average value of the fierce wool, exclusive of hogget wool, was in Marell last Iflld. nor 111., and at the sale til’s week the average was approximately I’M. "’lie nvo’-owo weight nor bale last season was SV’IP.. and a bale of won! nt tlm Ar nrob s” 1 " realised nnnrovimately £93 Ids. B'l. Assuming that the average weight nor ’’n’e this season will he the same ns Inst C'en the overage value per b.u'e at Monday’s sale was nnproximntelv p l« Ils. Sd.. a drop of .£5 Ids. per hale. This gives a rough idea of the fall in wool ns compared with Inst season. In all cases the figures are only approximate, hut they afford a working bams. The average weight

per bale this season is not likely to bo as much as in the last season, because of the lighter condition of the wool; but at all events as more of the lighter wool will pack into a bale there will be fewer bales of wool os compared with the patt season. Last season the clip, including slipe wool, but excluding wool held over, imountod tn 565.000 bales, and if this season's clip is as largo the Joss as compared with last season will be approximately XI, 107,500.

EXCHANGE RATES. (Rec. November 17, 11.45 p.m.) London, November 16. Foreign rates of exchange on November IG. :is compared with par rates or as averaged first half of 1914, are ns follow:— Nov. IG. Nov. 12. Par.

ENGLISH WHEAT MARKETS. (R'cc. November 17, 11.45 p.m.) London, November 16. Wheat cargoes are 3d. to 6d. per quarter dearer, in sympathy with America and unfavourable Argentin? reports, but aeinand is somewhat inactive. Parcels are in quiet demand at 3d. advance. Liverpool futures: December, Ils. Old.; March, 10s. 61d.; May, 10s. 4Jd. CHICAGO WHEAT QUOTATIONS. New , York, November 16. Chicago, wheat futures: December, new, 1 dollar 51# cents per bushel: old, 1 dollar 53| cents; May, new, 1 dollar 4SJ cents; old, 1 dollar 48J cents. TARANAKI OILFIELDS. By Tslegraph- Press \ss<>< -tion New Plymouth, November 17. Taranaki " Oilholds report:—Moturoa bore: Waiting for cement to set; preparing site for tank. Tarata: Drilled to 3810 ft. in shale; casing to 3785 ft.; no change. PRICES OF METALS. (Rec. November 17, 9.35 p.m.) ■. London, November 16. Copper.—On spot, j£6l 3s. 9d. per ton; forward delivery,' <£62 3s. 9d. Lead, #£36 15s. and .£36 Is. 3d. . Spelter.—<£3B 6s. 3d., and .£37 15s. Tin.—<£2B7 2s. fid. and .£282 7s. 6d. Silver.—Standard, 31 15-16 d. per ounce; fine, 34Jd.

L. A. Wadham, B.O. 1 Week. Tl. ... 6 187 P. Bailey, R.I.R. 1 .. ... 6 178 L. A. Wadham, B.O. 3 ... 7 177 W. G. Park, R.I.R. (B) 157 O. Nation, S.W .... 4 147 L. A. Wadham, B.O. 2 .... 6 147 P. Bailey, R.I.R. 2 . .. 5 140 Mrs. Ross, B.O .. 6 116 R. 0. Jarrett, R.I.R. .... 5 105 Mrs. Arnot, B.O .... 4 103 D. G. Pinker, B.O. . ... 49 LIGHT BREEDS. E. A. Tozer, W.L. . .... 6 185 G. W. Sellar, W.L. .. ... 7 170 A. A. Hoare, W.L. .. .... 5 172 A. A. Hoare, W.L. 2 ....z .... 6 169 E. Wing, W.L .... G 162 E. Tooby, W.L .. G 161 J. N. McLean, W.L. .. 5 161 P. S. Allen, W.L ... 5 158 L. B. Maunsell, W.L. 3 .... 6 154 M. G. Wing, -W.L. .. W. Spence, W.L. ... ... 6 135 — 6 123 Mrs. Payne, B. Min. 106 L. B. Maunsell. W.L. o ... 3 105 S. Coleman. O.E. Game (B) , — 96 L. B. Maunsell, W.L. 1 ... » 81 128 36.50

Buyers. Sellers. N.Z. GOVT. LOANS— Id S. d. £ s. d. 4J p.c. InS'c. Slk.. 1938 90 0 0 96 10 0 51 p.c. ditto, 1933 .... —— 99 10 0 5} p.c. ditto, 1927/1911 44 p.c. Bonds, 1938 .. —— 98 10 0 90 — DG 10 0 41 p.c. ditto, 1930 .... DEBENTURES— - G N.Z. Breweries (stock) 1 4 7 —- Ditto (bonds) 1 4 11 —- Well. City (oi per cent., IfW.'l 99 5 0 BANKS— Commercial of Aust. 1 13 6 National of N.Z New South Wales 6 11 13 0 — . 1 0 ■■ New Zealand i<; 9 — J r j| p) 11 *?f A 11 c 1 14 18 0 ■■ 7 10 0 — English, Scottish, and 7 10 0 7 15 0 FINANCIAL— Goldsbrough Mort ... 6 3 ™. Equitable. Building .. 8 17 6 —• N.Z. Guarantee Corp. (ord., 8s.) 0 10 0 0 10 6 Ditto (pref.) 1 1 0 —— Well. Trust, Loan .... ■Wright, Stephenson 6 5 0 (pref.) 0 17 0 GAS— Wellington (ord.) •••• 13 0 0 13 7 G INSURANCE— National (cum.) —— 4 0 0 1 16 6 South British 10 0 M E A T 1 * R E S E R VIN G— N.Z. Kefrigerat (10s.) Well. Meat Exp. (.£3 0 8 0 — 17s. Gd.) TRANSPORT— 3 0 7 6 Huddart-Parker (ord.) 2 9 4 9 Union Steam (pref.) P. and 0. def. stock 1 0 0 1 265 0 6 150 0 0 0 0 WOOLLEN— Kaiapoi (ord.) ....... — 0 9 0 6 . Ditto (contrib.) COAL— — 0 1 Waipa (c.r.c.) Westport (cum.) 1 14 0 1 1 1 14 6 6 TIMBER— Kauri (cum.) 1 14 0 Lcylaud-O'Brien (cum.) 1 19 0 2 3 1 1 3 0 BREWERIES— Manning and Co — 2 0 0 .1. Staples and Co. .. MI SCELLA NEOUS— 2 4 17 0 G 0 Burns, Philp, and Co. 1 0 — Colonial Sugar 50 0 0 Electrolytic Zinc (pref.) Farmers’ Auc. (ord.) 1 12 9 — 3 10 0 Kirkcaldic and Stains — 1 0 0 Newton King (ord.) .. 0 10 0 Ditto (pref.) ••••••■• Taranaki Oil I’ iclds — 0 18 0 1 0 Wairarapa Farmers’ 0 17 0 ■ MINING— 0 Mt. Lyell (cum.) .... Kawarau 8 6 1 0 8

shown: — Mar. 27 Nov. 16 Fall Per cent:. d. d. d. Fino crossbred 46-18 ... 18 114 3? 19.44 Medium crossbred4446 .... 161 13? 23 16.66 Con rse crossbred— 40-44 ... 152 11! 4 19.05 Low crossbred — 36-40 -■ 15 10? 4? 30.00 Houzct. fine— 46-18 ... 20? 161 41 20.73 Hoscet medium— ’44-16 ... 18? 16 2? 14.66 ITocrffct coarse — 4-0-44. ... 17’. 14 J 31 18.59

New York, dols. to £1 4.84 11-1G 4.84 11-16 4.866 Montreal, dols to £1 4.841 4.841 4.866 Paris, francs to £1 120.62 120.25 25.22J Brussels, francs to £1 106.90 106.82 25.22J Amsterdam, florins to £1 12.01 12.04 12.107 Stockholm, knr. to £1 1R.13 18.13 18.12 Oslo, knr. to £1 23.82 24.04 18.12 Copenhagen, knr. to £1 19.45 19.63 18.12 Berlin, Reiclismark to £1 .. 20.36 20.36 — Romo, lire to £1 120.37 121.25 25.221 Yokohama, pence to V<‘D 21 203 24.43 Calcutta, pence to rupee 18 3-16 16? , 24 Hong-Kong, pence 29 24 Batavia, florins to £1 11.99 11.99 —