FARM & COMMERCIAL

Dominion, Volume 19, Issue 86, 6 January 1926, Page 12

FARM & COMMERCIAL

NEWS AND NOTES

AUCTION SALES TO-DA Y. Traffic Inspector’s Office, Cuba Street, Wellington, 2.30 p.m.—Sale of street ■ stands. TO-MORROW. S Willeston Street, Wellington. 16.36 a.in. —Sale of furniture, Me., damaged by water, and at 1 p.m.—Salo of carpels. also damaged by water (E. Johnston and Co.). FRIDAY. S Willcston Street, Wellington, 10.30 a.m.—Salo of furniture. 1 p.m.—Sale of chocolates (E. Johnston and Co.).

FARMING INTERESTS

MELBOURNE WOOL SALES PRICES HIGHER THAN AT END OF YEAR. Melbourne, January 5. At the wool sales prices were good, with general competition, compared with the closing nites of last year. Super merinos were 5 per coni', higher, with average and top-making soils in sellers’ favour. Comebacks and crossbreds showed par to 5 per cent, increase for tlic best. Others at par.- -Press Assn. BRADFORD WOOL MARKET (Rec. January 5. 5.5 p.m.) London, January 4. The Bradford tops market is inactive, awaiting colonial reports. Quotations arc unchanged.—Aus.-N.Z. Cable Assn. DAIRY PRODUCE MARKET Messrs. Dalgety and Company, Limited report having received the following cablegram from their London house, under date December 31:— Butler. —Market quiet. We quote Now Zealand sailed. 1725. (168 s. Danish, 178 s. (1745).; Australian, finest sailed, 1665. (1605.). unsalt-d. 1118 s. (1112 s. Now Zealand last season, salted, 1625. to 1645. Cheese market weak. New Zealand white and coloured, 965. to 98s. (190 s. to 102 s.); Canadian spot. 98s. to 104 s. (106 s. to 108 s.). (Last week’s quotations shown in parentheses.) Tho Anglo-Continental Produce Co.. Ltd., advise their New Zealand agents that the market is as follows:—Butter: Now Zealand, 1705.; Australian, 160 s. Mark-.-t quiet. Cheese. Otis. Messrs. A. H. Turnbull and Co. have received a cablegram from Messrs. AV. Weddell and Co., Ltd., dated London. January, reading as follows (last week’s quotations shown in parentheses):—Danish butter, 178 s. (17? s. to 1745.): New Zealand, uusaltcd. 1.705. to 1745. (1665. to 170 s.); New Zealand salted, 1725. to 1765. (1625. to 161>5.); market quiet. Cheese (white and coloured), 965. to 985.; market quiet.

FROZEN MEAT MARKET

Alessrs. Lovin and Co., Ltd., have received the following cablegram from their London agents, dated January 1:— Frozen meat quotations (prices on a “delivered’’ basis, i.e., including storage charges, cartage, tolls, etc.): Down lambs, 28lb. to 421 b., none offering; best North Island, 281 b. to ‘421b., 9a. per lb.; ordinary North Island, 281 b. to 42ib., Sid. per lb.; second quality lambs, SJd. per lb.; best North Island wether sheep, 18lli. to 641 b., 7d. per lb., 641 b. to 721 b. 63d. per lb.; ordinary North Island wether sheep. 481 b. to 641 b., 63d. per lb.; North Island ewes, 181 b. to Glib. sd. per lb., 641 b. to 721 b. 41d. per lb.; New Zealand prime ox beef, 1661 b. to 2261 b., 4fd. per lb. 'The market is steady but quiet, with little more inquiry. Alessrs. Dalgety and Co., Ltd:, report having received the following cablegram from their London house under date December 31: — Lamb: New Zealand prime crossbredlamb, Canterbiirv, heavy 7Jd., light lOld.; North Island, heavy 7d., light 9d. Demand for New Zealand lamb runs principally on light-weights. Alarket weak. Alutton: New Zealand prime crossbred mutton. Canterbury, heavy 6Sd., light 7d.; North Island, heavy (jld., light 7d. Demand for New Zealand mutton continues. Alarkct. any change in prices in favour of sellers. Beef: Quotations New Zealand prime ox beef hinds 5d., fores 4Jd. Demand for New Zealand beef fair. Alarkct nominal. Australian frozen meat: Quotation, G.A.Q. crossbred lamb, Australian heavy, N.Q.. light. Bld.; G.A.Q. crossbred multiui. Australian, heavy 5d.. light sd. Demand for Australian lamb limited; mutton fair demand. Pork: Afarkot weaker temporarily owinir to largo supplies English and Dutch. Quotations, frozen porkers lid., baconers 16d. on spot. 'The New Zca’nnd Loan and Mercantile Agency Company, Lipiited, have received the following cablegram from their London house under date January 1 :— New Zealand Frozen Meat.—Lamb: 9Jd. per lb. (average!. Multon: wether and maiden ewe. light 7ld. per lb., heavy 6’d. per lb.; ewe, Jisrht fid. per lb„ heavy 4Jd. per lb. Alarket slow.

| YORKSHIRE LETTER BRADFORD COMBINGS CHARGES REDUCED (From Our Special Correspondent.) Bradford, November 26. Two big events have transpired this week, namely, the reinicing of the tariff for combing’, and the opening of the London sales. Everybody rejoiced last Monday that the Commission AVoolcombcis’ Federation had decided to fall into line with the frequently expressed wishes of the trade, by reducing combing charges. The big firms who all last year sent heavyweights of matchings to Germany ior combing wool and selling the tops there, can no longer urge the seriously higher charges for combing in Bradford compared with the Continent. The reduction of Id. for all qualities of wool down to 56’s is a considerabel concession, while on 50’s and below, it i; ;'d., and for preparing wools Jd. Two other important concessions have been made—the abolition of all extra charge for drv combing, and also the abolition of the' -jd. extra on the combing of Cape wools. Tho latter was long overdue, bce-.msc a large: proportion of ths South African clip is to-day equal in length, style, character, and clean yield to the average Australian merino. The trade therefore has every reason for feeling pleased that combing charges have been brought more into line with the present needs. Some of course, contend that the reduction .might: bar,- been still more, hut when all is said and done, the reduction is considerable. The Mew Tariff Compared. AVe give below the now combing tariff compared with the pr.-vious one:— New Old Tariff 'Tariff per lb. per lb.

The London auctions commenced on Tuesday. The available quantity is no fewer than 178,000 bales, a big enough weight for the trade to tackle at this time of the year. Of course, there will be a fair quantity of new clip wools of a merino character from Australia, but practically nothing from New Zealand. .It is just possible that: some of the early sheds in tho North Island may have got wool away in September, in which case u few new crossbred clips will be catalogued, but with 90 per of the New Zealand dip now being sold on the spot, it is hardly likely that there will bo niore than a good handful of new wool to hand this sei ies. In any case, wo expect the auctions to be characterised with considerable strength, with the Home trade this timo being the biirgcst buyer. It present it is impossible to say definitely ]iow things shaped, but judging bv tho opening sale, everything would indicate a satisfactory series. Wo liked the start, because a reasonable spirit seemed tn be in possession of buyers, and although bora and there a little hesitation was observable, the majority trit that it was policy to make haste slowly. Prices were very firm, with some wools distinctly against the buyer, the biggest rise being seen among the crossbreds. Otherwise there was not a great deal of change, the best feature of all being the readiness on the part of practically all to couipcte. We expect the little reverse on the part of one section of tho trade to pass away, though wo very much doubt if France will be anything like the operator that she was last series. Although the French textile industry remains busy, the fact must not be overlooked that the financial and political crisis which confronts that nation is bound to seriously affect the attitude of business men, particularly when France has been such a big buyer overseas, and the' wobl is now arriving quickly in the manufacturing areas of Northern France. The selection at the current London sales is bound (o be good. Practically every Stale in tho Commonwealth will be represented by some good clips, particularly Queensland and New South ■Wales. Here supplies will be above an average, and West Australia will also be well to the front with some good clips. New Zealand slipes and scoureds will be very prominent in the offerings. Whether the Home trade can lift all these remains to be seen, because many think that these will comprise nearly half the N.Z. offerings. However, with Russia being (o-ilny a considerable buyer of scoured straight wools, many feel that it will be possible to lift them without much effort, and therefore we ■ expect to find no big carry-over at. the finish in any class of raw material. Sir lohn Higgins in Bradford. Last week-end Sir John Higgins was entertained at a dinner by the members of lhe British Wool Federation. Sii- John Higgins is staying at Harrogate for health reasons, and bis nrcsence in Bradford was very wrieome. h-> bring shown over the big mills at Saltaire previous to being entertained. Of very pleasing personality, there is no doubt that ho made a good impression, but. whether lus proposals will materialise very serious doubts arc expressed. No Yorkshiremnn would c'nsent to have anv commodity doled cut to him at a fixed price, and Sir Jilin Higgins himself recognised that there must always bo some element of speculation in business. I.ord Bnrn'by stressed the point very strongly indeed. So did Mr. Harry Dawson. What Sir John Higgins str'essed most nas lhe stabilisation of wool values, with a view to encouraging the mon nn tho lend to feel that for their labour and heavy risks they are going to rccr-ve a reasonable paying price ler thru annual flit) of wool Sir Joi n Higgins alluded to the big nnemp'ovnicnf problem that confronts Eng'nnd. Ho said that there was plenty of room for every man in .Australia, and Hie younger men should be encouraged to emigrate and start business for themselves Nothing would put heart and enterprise into pastoralists than to feel that at the rear end as a just reward for their labours they would receive a reasonable price for their clip. Booms

and slumps in the trade were to be deprecated very strongly, and be could soo thc.t stabilised values would bo a really good thing to tho spinner and manufacturer. As a. tinal result, of the meeting it was suggested that a round table conference with the leaders of the trade should Im arranged, and the whole, question discussed, freely and frankly with Sir John Higgins. This conference may be held, 'but. wo fool that nothing will lie done which will abrogate the principle of a free market for wool.

CANTERBURY PRODUCE MARKET RAIN BENEFITS CROPS. Br 'Teleghai’h—Press Association Christchurch, January 5. M.-rehants have not been rushed since resuming business after the holidays, there being no accumulation of orders to handle. However, crop developments are creating a good deal of discussion and expectancy. Reports aro that the week-end rain will Ro a great amount of good in filling out the wheat. The drying winds subsequently nullified some of tho good effects. but the rain got well into the ground. Yields as a result will bo better than was expected, though, of course, well below last season's. Though the market is dull it is firm. Oats are likely to be a very short crop in North ami most of Mid-Can-terbury, -but further south the position is good and normal yields are expi-cted. A good ileal of the crop in the northern end of the province is already in stook. At the moment forward quotations for A Gartons is 4s. 6d. f.o.b. S.T., and for B's. 4s. 3d, Chaff has firmed up during the past few weeks, anti goon quality chaff is worth, on trucks, at country stations, from AH 10s. to <£4 15s. pci- ton, secondary -£4 to £4 7s. 6d. There has been a fair local demand. There is very little offering from farmers. An influenci- in the seed market is the heavy floods in England and on the Continent. Reports are that a good deal of damage has been done to crops and that instead of much exportation, importation is possible. Perennial ryegrass is in firm demand at 6s. f.o.b. S.T. for 27-281 R. seed, and to Its. fid. for 30-311 b. seed, equal to 4s. fid. to 4s. fid. on trucks to farmers. Italian and AVestern AA’olths are quoted at 4s. 9d. f.o.b. S.T., or 3s. 3d. on on trucks. Th:- general oninion is that Canterbury crops will bo light. Cowgrass is firm at lOd. on trucks with little doing. Cocksfoot is very quiet. The Peninsula crop will again be small, but the qualitv will be much better. Up to 12d. for machine-dressed and to 7d. on trucks are quoted. Potatoes generally aro looking well after the rain, of which they were much in need. Merchants arc offering 414 per ton on trucks for the main crop (AprilJune). but there is little response at this figure. Another 10s. a ton would probably load to business. DANNEVIRKE A. AND P. SHOW Many pew features arc comprised in the s-.h-dule issued by the Dannevirko A. and P. Association for their annual show, to bo held on AVednesday and Thursdav. February 10 and 11, to bo followed’ bv the ram fair on tho following Friday. The importance of the annual fixture of this long established association —this years vejiture will mark its seventeenth annual show—is so well known to breeders and exhibitors that: it is now regarded as one of the chief shows in the North Island. All classes of stock arc catered for. also a wide range of homo industries, and. every imlucem-nt is given to exhibitors in the matter of liberal prize money and trophies. Schedules and any particulars can be obtained from the secretary, Mir. H. S. M. Quigley, Dannevirko.

COMMERCIAL ITEMS

EXCHANGE RATES. (Rec. January 5, 5.5 p.m.) London, January 4. Foreign rates ot exchange on January 4, as compared with par rates or as averaged lirst half of 1914, arc as follow:— Jan. 4. Dec. 31. Par.

LONDON WHEAT MARKET. (Rec, January 5. 7.5 p.m.) London, January 4. Wheat cargoes are firm with fair sales at higher prices, owing to small shipments of good nii'ling quality. _ Sales have been made at 625. fid. to 635. per quarter. Parcels are firm at fid. to fid. per quarter dearer. There Lave been sales at 625. 3d. to 625. fid. TIN STOCKS IN LONDON. (Rec. January It. 7.5 p.m.) London, January 4. Tin stocks amount to 16.709 tons; spot, 1615 tons; afloat, 1365 tons. (Rec. January 5. 5.5 p.in.) London, January 4. P. and O. deferred stock, 41240. CHICAGO WHEAT QUOTATIONS. Chicago, January 4. Wheat futures: May. new, 1 dollar 82‘- cents per bushel, old, 1 dollar 80J cents; July, 1 do'lar 56| cents. THE METAL MARKET. ,(Rcc. January 5. 8.25 p.m.) London, January 4. Copper.—On spot. .£59 16s. 3d. per ton; forward delivery, 4160 16s. 3d. Lead. — £.35 15s. and .£35 6s. 3d. Snell er.—£39 and 41.38. Tin— 4FS9 2s. fid. nnd .£2Bl 12s. fid. Silver. —Standard, 31 13-IGd. per ounce; fine, 34 5-16 d. TARANAKI OILFIELDS. By Telkorapii.—Pt:ess Association New Plymouth, January 5. Taranaki Oilfields. Ltd., report:—Tarata bore drilled to 4140 fort in shale. Molucca bore. G-inch casings drawn; hole anparentlv slightly out of line owing to boulder near bottom; now straightening preparatory to rerunning casing.

.Merinos— d. d. 'rearing 5 to 1 and over •n 51* Tearing 4. and under 5 to 1 53 Tearing 3 ami under 4. to 1 M 64 Tearing 2 and under 3 to 1 64 Tearing under 2 to 1 < 73 Hu.-ring ii’ 4 ■“ Gilling in > aS's— ■1} 43 Tearing 12 to <1 and over .. Tearing 8 and under 12 to 1 n 5 Tearing under 8 to 1, same as merinos Hurling 3* Gilling in — 4 s J * 56’s— ’ 4J 'Tearing 7 to 1 and over ... 4 'Tearing 5 and under 7 to I 41 5 Tearing under 5 to 1 5 Burring t ” Gilling in I IT M's— Tearing 7 to 1 am] over .. 3J 4 Tearing 5 and under 7 to 1 I 4.1 'Tearing under 5 Io 1 4.1 .) Hurling 4 Gilling in k 46 s and below— 'I'caring S to 1 and over .. 32 33 Tearing 6 and under 8 to one 32 4} Tearing under (i to 1 •« 43 Herring 4 J* i 2 Gilling in Carding, backwashing and gilkng only 3 Preparing— 40’s and below 24 34 Above 40's 3} 31 Burrv and seedy wools ... 3* Gilling in 1* 1* Scotch wools 3> ' 31 ’Extra. London Sales.

4.85 3-16 4.86b £1 4.85 1-16 Montreal, dels, to £1 4.858 4.858 4.806 Paris, francs to £1 126.62 129.25 25.22$ Brussels, francs to £1 106.95 106.95 25.228 Amsterdam, florins fro £ 1 12.00 12.06 12.107 Stockholm, knr. to 18.09 18.09 18.12 Oslo, knr. to £1 23.81 23.87 18.12 Copenhagen, knr. to £1 19.61 .19.61 18.12 Berlin, Reichsmark to £1 20.38 20.38 — Rome, lire to £1 120.19 120.07 25.22$ Yokohama, pence to ven 218 ■ 21.8 24.48 Calcutta, pence to rupee 18 3-16 18 5-16 24 Hong-Kong, pence to dol 288 288 24 Batavia, florins to £1 11.97 11.96 —