FARM & COMMERCIAL

Dominion, Volume 19, Issue 97, 19 January 1926, Page 10

FARM & COMMERCIAL

NEWS AND NOTES

AUCTION SALES TO-DAY. Main Road, Upper Hutt.—Sale of 6roomed residence and contents (8. Geo. Nathan and Co.). Uokiha Street, Taumaruntii.—Salo of farm properties (Samuel Bishara, Ltd.). Feilding Showgrounds, 11 a.m.—Sale of stud and flock Romney Marsh rams (Murray, .Roberts und Co. and Dalgety and Co.). Johnsonville, 2.30 p.m.—Stock sale. TO-MORROW. Dominion Farmers’ Institute Buildings, Wellington, 2.30 p.m.—Dale of section situate between Wellesley Club and Dominion Farmers' Institute Building. THURSDAY. J. O’Brien's Stables. Thorndon Quay, Wellington.—Sale Elderslie yearlings (Dyne, Gould, Guineas, Ltd.). Lambton Garage, 12.30 p.m. —Sale of motor-cars (li. A. Wilson and Co.). S Willcston Street. Wellington, 1 p.m — Salo of carpets (E. Johnston and Co.). Upper Hutt, 1 p.m.—Stock sale.

farming Interests

FAT STOCK FOR EXPORT WEEKLY PRICES. The New Zealand Meat. Producers' Board advises that the following prices were being offered on January 14 for fat slock for export:— Auckland.—Wethers, sGlb. and under. s'<L; second quality wethers, 4J<I. Ewes: s(ilb. and under. Id. Prime woolly lambs: 361 b. and under, Sjd.; 37)b. to 421 b., Sd.; 431 b. and over. 7Jd. Second quality lambs. Sd. Poverty Bay.—Wethers: 561 b. and under. 51d.; 57ib. to 641 b., 4Jd. Second quality wethers, 4}d. Prime woolly lambs: 361'b. and under, BJd.; 371 b. to 421 b., Bd.; 4311). and over, 7d. Second quality lambs, 71d. Hawke's Bay.—Early shorn wethers: 611 b. and under. Gid.; Gslb. to 721 b., sld. Second quality wethers, 5Jd. Ewes: 5G!b. and under. 41d.; 5711?. Io t-flb., 4d. Prime woolly lambs: 361 b. and under, 9]d.; 371 b. to -12111., 83d.; 431 b. and over, Sd. Second quality lambs, 9d. Wellington.—Wethers :' <Wlb. nnd under, ■ G-Jd.; 57:b. to 641 b.. s}d. Second quality wcr.hcrs, sjd. Ewes: 56ib. nnd under, 4Jd.; 571 b. to Gl-l’b., 4d. Prime woolly iambs: 3Glb. nnd under, 9]d.; 371 b. to 421 b., 83d.: 431 b. and over, Bd. Second quality iambs: 361 b. and under. 9d.; over . 361 b., Sd. Canterbury.--Wethers.- cGlb. and under, Gjd.; 57rb. to 641 b., s!d. Second quality wethers, sd. Ewes: Up to 481 b., -Lid.; 481 b. to Glib., 4Jd. . Prime woolly lambs: .'iGlh. nnd under, OJd.; 371 b. to 42)b., ■ BJd.; 431 b. and over. Sd. Second qualify Jambs: 361 b. and under, ’Jd.; over t’lGlb., Sd.

STOCK SALES

The New Zealand Loan and Mercantile Agency Company, Lmitcd, Hawera branch, report: —

At Kakararnea, on January 11, wo held our first sale since (ho holidays, when there was a fair-sized yarding, which was disposed of at auction at ruling rates. Th» following are some of the prices realised:—Fat cows, £5 17s. to .£6 Ils.; forward cows, £4 55.; store cows, £2 ss. to £3 155.; aged cows, £1 to £1 155.; bulls, to £G; small weaner pigs, at 10s.

At Elthain. o.n January 13, we conducted our initial sale of the year, when a medium yarding of mixed cattle came forward. Prices were as follows:—Fat cows, <£s 7s. Gd. to £G 10s.; store cows, .£3 ss. to £-4; boner cows, £1 to £2 35.; bulls, to . £5. At Hawcra on January 14. wo held our usual sale, when a good yarding of all classes of stock was submitted to a largo attendance of buyers. Wo quote: Good b.f. lambs, io 16s. 3d.; small b.f. lambs, 10s. to 125.: cull lambs, 7s. Gd. to 95.; fat rows (light). £5 12s. to £6 55.; forward cows, £l. to £4 155.; store cows, £2 16s. to £3 155.; honor cows, £1 to £2; bulls. £3 to £4 10s. ; empty heifers, to £2 2s. 6d.; pigs (light porters), £2 2s. to £2 45.: large stores. £1 Gs. to £l 155.; small stores, Io 205.; wenners. to 13s. At IVavorloy on January 15. wo hold' our fortnightly sale, when there was a medium yarding. IVe quote: Fat and f..iward cows, to £5; bulls. £3 10s. to £5: cull larabs, to 10s. Id.; pigs (weaner) to IGs.

Messrs. Dalgety and Co., Ltd., Masterton, report as follows:—A medium yarding of sheep, cattle, and pigs was submitted to the usual attendance at Carterton. The demand for sheep and cattle was on a par with other markets while prices for pigs showed a sharp decline. Following is the range of prices:—Good 2-tooth wethers, 235.; fat ewes, 21s. ; light fat cows, £5 2s. Gd.; forward cows, £3 10s. to £4 155.; store cows, £1 Bs. to £2 10s.; bulls, £4 to £4 10s.; porkers, 455. to 345. Gd. ; weaner pigs, 14s.

LONDON MARKETS

HIGH COMMISSIONER’S CABLED REPORT The Department of Agriculture has received the following cablegram dated January 1G from the High Commissioner for New Zealand, London:— Butter. .Market firm. Official quotations are:— New Zealand. —Finest salted: January 16, 171 s. to 1765. per cwt. (Is. Old. to Is. 63d. per lb.); January 9,168 s. to 1725. per cwt. (Is. Gd. to Is. 6id. per lb.). Unsalted: January 16, 178 s. per cwt. (Is. 7d. per lb.); January 9, 1725. to 1745. per cwt. (Is. Gid. per lb.). Other qualities: January 16. 1665. to 170 s. per cwt. (is. s«d. to' Is. Gd. per lb.). Australian.—Salted: January 16. 1625. to 1665. per cwt. (Is. 5Jd. to Is. 5Jd. per lb.); January 9, 1,585. to 1625. per cwt. (Is. IJd. to Is. aid. per lb.); exceptional, January 16. IGSs. per cwt. (Is. Gd. per lb.). Unsalted: January 16, 161 s. to 170 s. per cwt. (,Is. sjd. to Is. 6.’,d. per lb.); January 9,160 s. to IGls. per cwt. (Is. sd. to Is. 51d. per lb.). Other qualities: Salted. January 16. 110 s. to 160 s. per cwt. (Is. 3d. to Is. sd. per lb.). Unsalted: January 16, 110 s. (o 1565. per cwt. (Is. 3d. io Is. 4Jd. per lb.) Argentine.—Unsaltcd: January 16. 150 s. to 17>ls. per cwt. (Is. -Id. to Is. 41d. per lb.); except Iona), 1565. per cwt. (Is. 4ld. per lb.); January 9, Ills, to 150 s. per cwt (Is. 3',d. to Is. Id. per lb.). Other qualities: January 16. 140 s. to 148 s. .per cwt. (Is. 3,1. to Is. .‘ljd. nor lb.). Siberian. —January 16. 110 s. <0 148 s. per ewf. ( I s, 3d. to 1-.. 33d. per lb.); January 9. ,1365. to 1455. per cwt. (Is. 2.1 d. to Is. 3.1 d. per lb.). Danish.—January 16. 178 s. to ISOs. per cwt. (Is. 7d. io Is. 7',<!. per lb.). Cheese. Colonial, Him. English, finest farmers’, unchanged Official quotations arc: — Canadian.—Finest coloured and white:” January 16. Kills, to 108 s. per cwt. (11'pl. to 11 lil. per lb.l. Exceptional: Coloured, 110 s. per cwt. illjd. per lb.). Now Zealand. —Coloured : January 16, 104 s. per cwt. (Ud. per lb.); January 9, !)Ss. to 100 s. per cwt. (IGlfl. to IK"d. per lb.). White: January 16, 100 s. io 102 s. per c'.i. I. (10’d. per lb.). Shipments of Now Zealand produce arrive:! this week per s.s. Pori Darwin. Port Nir'nd son, and Rotorua. Wed. Hemp and Tallow. Wool.--Bi adi'ord market quiet, but •i(cii'ly at last quotations. Hemp.-- Fair business lias been done 11: /Mani-a- "J” grade February-April shipments s-.ib.'. at <£47. January-March quoted a; .£46 10s. Output last year, 1,253,7:13 bales, against 1,4.88.815 previous year. Stocks of Manila December 31, 165.522 haler;, Great Britain 27,196 against 137.512 and 7320. Sisal No. 1 Tanganyika, January-March shipments, value .£l5. New Zealand market quiet and stoadiei. Nominal quotation is for high points. January-March shipments, <£ll, fair .£37. Tallow.—Spot market, steadier at lower prices. , Present quotations arc:—Mutton : bine. 465. Gd. to 475, per cwt.; fair to good, 425. to 455. 6d. per cwt.; dark to dull, 395. 6d. to 40s. Gd. Beef: Sweet and/or mixed, 42s Gd. to 4-ls. per cwt.: fair to good, Ids. to 425. per cwt.: dark to. dull, 38s. Gd. to 39k. Gd. per cwt. Mixed: Fair to good, 395. 6d. to 51s. 6d. per cwt.; dark to dull, I’Ss. to 395. per cwt Gut, etc.: 365. to 38s. 6d. per Cwt. Apples. Canadian and Australian: Stay-mans Wine.sap, Spitzbergen Jonathan, 12a. to I ts.; Newton Pippin, 135.. to 17s. English: Cox’s Orange, 255. to 305.; Ailington Pippin, ss. to Bs.; liramley. 4s. to 75.; Blenheim, ss. to 12s. OTHER ADVICES Mr. T. C. Brash, secretary of tho New Zealand Dairy Produce Board, reports having received the following cablegram from the London office of the board:—Butter market firm but quiet. New Zealand salted, 1745. to 17Gs.; Australian salted, lG6s. to 1685.; Argentine suited, 1525. to 1565.; Danish salted, 181 s. io 182 s. Cheese: Market firm. New’ Zealand white, 1025.; New Zealand coloured, 101 s. The New Zealand Producers' Co-opera-tive Marketing Association's weekly cabled report from London dated January 15, is as follows;— Butter: Market steady. New Zealand, salted 1745. to 1765., unsaltcd 1785.; Australian. 1625. to 1665.; Argentine, 1508. to 1565.; Danish, 178 s. to ISOs.; Dutch, 1745. to 1785.; Estlionian, 158 s. ta 1625.; Latvian, 150 s. to 1555.; Siberian 140 s. to 148 s.

Cheese: Market firm. New Zealand, white, 100 s. to 1025., coloured, 102 s. to 1045.; Canadian, 106 s. to 110 s.; Australian, 98s. to 100 s.

Messrs. Joseph Nathan and Co., Ltd., have received the following cablegram from their London house dated January 15:—New Zealand butter, 1745. to 1765.; while cheese, 1025.; coloured cheese, 1645.; both quieter. The Bank of New Zealand, produce department, has received the following advice from its,London office, under date Januarv 15:—

Biitfrr.—Firm ; 1745. to 1765. per cwt. (,'liocsc.—Firm. White, 100 s. to 102 s. per cwt.; coloured. 100 s. to 101 s. Frozen Meat. —The market is well supplied with wether mutton. Ewe s are qni.4 and unchanged. The market is firmer for heavy-weight lambs. Beef is expected to go lower owing to large supplies afloat. Wethers, light. 6:,d. to 7-Jrl. per lb., heavy, Gd. to GJd. : dwes, 4ld. to 5Jd.; lambs, two’s, lOd. to Ild., eighth’s, Sd. to BJd., four's. 7j|d. fo Bd., seconds. Bd. to 9d.( Australian, Sd. to Old.. Argentine. Bd. to 9d.; ox, hinds, 4ld. to 4dd., fores, 3Jd. to 4d.; cow, hinds, 3:?d. to 4.',d., fores, 3d. to 3Jd.

MASTERTON EGG-LAYING COMPETITION LAST WEEK’S RESULTS. Masterton, January 18. Following are the results for last week in the Mnslcrton Poultry Club's first annual egg-laying competition:— FIEWY BREEDS. Week, Tl. P. Bailey, R.J.R. No. 1 5 225 L. A. Wadham, 8.0. No. 1. ... 6 220 L. A. Wadham, 8.0. No. 3 ... 6 209 L. A. Wadham. Is O. No. 2 ... 4 199 W. G. Park. R.J.R 6 195 O. Nation, SAY IS 192 P. Bailev. R.T.R. No. 22 166 Mrs. Moss. 8.0 6 154 Mrs. Arnot 6 110 R. O. Jarrett, 8.0 '.19 D. C. Pinker, 8.0 '!» LIGHT BREEDS. E. A. Tozer, W.L . 229 G. W T . Sellar, W.L ( 229 A. A. IToare, W.L. No. 2 I 221 A. A. Iloare, W.L. No. 1 .... 5 219 E. J. Wing. W.L f 213 E. Toobv. W.L 5 205 A. Alien 1 201 J. P. McLean. W.L 5 202 L. B. Mannsell. W.L. No. 3 .. 5 201 M. G. Wing. W.L. (B.) o 173 W. Spence. W. L 5 170 Mrs. Payne. B.M 0 151 L. R. Maunsell. AV.L. 1 6 179 L. B. Maunsc-1. W.L. No. 2 ... 2 1.28 S. Col.-man, O.E.G .7 ?’G Totals .... 11l 4688

WOOL CONTROL

REJECTED BY BRITISH FEDERATION

London, January 16

Proposals for wool control were detinitely rejected by the Bradford jni-cl-ing of the British Wool Fed cr.it ion. which passed a rcsolulion that it was not desirable that any attempt should be made to interfere between woolgrower and consumer, and that ample protection, guidance and assistanei- was always available, through existing channels and organisations.—Reuter. ARTIFICIAL WOOL TO BE RECKONED WITH London, January 17. The "Yorkshire Post’s’’ Bradford export says that the opinion of those best qualified to judge is that artificial wool, when a sufficient quantity is available, will be a commercial proposition and will have seriously to be reckoned with, provided that the price can compete with cotton and crossbred wool. Some manufacturers suggest its use instead of cotton, while others think that it can he used as a substitute for crossbred wool. The expert declares his conviclion that no progressive firm can ignore its existence.—Aus.-N.Z. Cable Assn.

SNIAFIL BEING SENT TO AUSTRALIA (Rec. Januarv 18, 8.35 p.m.) Melbourne, January IS. Ei"ht bales of Sniafil arc on rout? to Australia, from Genoa, for experimental purposes at local woollen mills.—Press Assn. PRICE OF BUTTER INCREASED IN SYDNEY. (Rec. January 18, 5.35 p.m.) Sydney, January 18. The wholesale price of buil;-r has been increased 4s. Bd., to 1725. Bs. nor cwt.— Press Assn.

COMMERCIAL ITEMS

WELLINGTON STOCK EXCHANGE

YESTERDAY’S BUSINESS AND PRICES

Th.-ro were, no transactions recorded yesterday at either the morning of afternoon ci“ls. 'There was a good demand for Government stocks and bonds, with buyers of the 4J per cents at <£96, and the 5 per cents, at <£97 15s. Now Zealand Breweries stocks and bonds wero firm at 255. Bank shares were quiet. There were buyers of Bank of New South Wal.-s shares at <£43 55., P. and 0. Banking Corporation at. .£!» 10s., and English, Scottish, and Australian at <£7 13s. Gd. Wellington- Trust and Loan shares were firm al, A'6 Bs. cum. dividend, and Wellington Investment shares were wanted at 10s. Auckhfnd Gas shares were in demand at 235. Insurance shares were firm. For National Insurance shares .£3 18s. Gd. was bid, for New Zealand Insurance <£l 18s. 3d. cum. dividend, and for South British Insurance .£2 13s. fid. New Zealand Refrigerating shares 10s. paid wero a shado firmer Bs. There was no demand for shipping' shares, but sellers quoted 455. 3d. for Huddart-Parker ordinary, 20s. 6d. for Union Steam preference, and J 12.50 for P. and O. Deferred Stock. West port Coal shares were steady at 31s. 9d. Kauri Timber shares were firm at 325.. and Leyland-O'Brien Timber at 40s. There wero buyers of Staples and Co. brewery shares at 2005.. Burns, Philp and Co. at 395., Electrolytic. Zinc preference at :16s. 3d., New Zealand NTilk Products at 315.. New Zealand Paper .Mills at 215., Wairarapa Farmers’ preference at 175., and "Wilson's Cement at 345. 9d. Mount Lyell mining shares wero wanted at 255. 6d.

Yesterday’s buying and selling quota lions were as under: —

SALES IN OTHER CENTRES B v Tbl EC.KAI’II— I’UESS ISSOCIATION

Au<'klan<l. January IS. Sales.—New Zealand Breweries Debentures, 2,55. Ud.;: Auckland alls, 235. 3d.; Staples Breweries. -Ills. (Id.; Kawarau, 7s. lid.t 7s. 3d.; Nonpareil (eontrib.), tid.

Christeliurcli, January IS Sales reported.—New Zealand Government. 5J bonds (1933), £99 15s. (2 parcels). Sales.—New Zealand 54 per cent, bonds (1933), £99 155.; New Zealand Breweries bonds. 255. fid.; Electro Zinc (pref, cum. div.). 30s, 365. 3d.; Mt. Lyell, 26s .3d.

WELLINGTON TRUST AND LOAN

The fifty-third annual report and bal-ance-sheet" of the Wellington Trust, Loan and Investment Company for tl.a yeaended December 31, 1925, shows that the revenue from all sources amoual.vd to £33,069 as compared with £32,632 in the previous year. OiF of this £15,894 was

[ paid in inlciesf, whii lj. contrasts with ,£16,123 paid out in the previous year. Tho expenses, including directors’ and auditors’ fees, absorbed T 2306, against, ~£2200, ral.-s and insurance accounted lor .LT67, against .£161., land and income lax alisnrlie.l .£2596. against .£2313, and JllOO was written oil for depreciation of premises, making a. total of £21,063, and leaving the net profit al: .£12,006, to which must be added .£1550 brought forward from tin' previous year, making available, for distribution .£16,556. Out <’f this £3OOO has been added to the reserve fund, .bringing that fund up to £75,00(1; the dividend for the year at the rate of 7J per cent, absorbs £9375, leaving d.’lisj to be carried forward. The dividend is at (he sum? rate as was paid last vear, but. the amount added to the reserve fund is more by £lOOO. The items of the balance-sheet, with those for last year in parentheses, are as follow :—Liabilities: Capital, £125,000 (.£125.600); deposits and interest, £339,915 (.£326,579); reserve, fund, £75,000 (£72,000); income tax reserve £2558 (£2303); amounts due by company, £3161 (£1829); bank balance, .£479 (nil); profit a,nd loss, £9lBl (£10,175). Assets: Mortgages, £181,179 (£471,059); war loan stock at cost (face value ,£40,000). £37.998 (£37,998); special deposit Bank of New Zealand, £15,000 (nil); business premises, £10,960 (£11,060); freehold properties, nil ( £1300); interest, etc. (current), .£6857 (.£6500); bank balance, nil (£9369). Total, £555,291 (£537,886). THE WOOL MARKET At the Wanganui wool sale, which concluded on -Monday, values did show a gain, but not the gain that some interested in tho sale claimed. The general improvement in values is placed at a halfpenny per lb., and for fine wools equal to American style the rise would be a penny per lb If the market would hold at current prices everyone producing and handling the raw material would be satisfied, but no one is prepared to say the market will hold, nor yet are there any ready to predict that values will recede. The fact is that tho market is quite an uncertain one, and the movements trill depend upon finances. If Continental buyers can obtain the necessary credits wool will bo purchased freely, and the market will held. On the other hand, if monetary troubles overtake tho Continent, then Bradford and America will step in and buy at lower rates. Practically all through last year French buyers wero very active, and it was .mainly owing fo.Frcnch buying that the .market was prevented from slumping. An explanation of this activity on the part of tho French may be found in the fact that, according to tho. Board of Trado figures, over 7,000,000 square yards of dress goods wero imported into England during the first eight months of last year from France alone, which only supplied 1000 yards in 1924. and nothing at all in 1923. Bradford has suffered serious competition also from Germany and Belgium and to a lesser extent from Italy.

BRITISH BUTTER IMPORTS

The imports of butter into the United Kingdom during the second half of 1923 totalled 2,J62,000c\vt., as compared with 2,590.000 cwt. in the corresponding half of 1924. There was thus a contraction of 128,000 cwt. The monthly figures compare as under:— 1925. 1924.

There was a substantial increase in December, and it is probable that the arrivals in January will also show a big increase. Current quotations for New Zealand salted butter arc well above those ruling a year ago, and.the market has recently shown a tendency to remain firm

LONDON RABBITSKIN SALES* London, January 17.

At the rabbitskin' sales 2677 bales were offered, and 2048 were sold. For hatters’ sorts there was a strong demand, at 10 to 20 per cent, advance compared with November. Furriers were not competed for so well, owing to financial stringency on the Continent, and showed about 5 per cent, decline.

CUSTOMS REVENUE. Tho Customs revenue collected yesterday at the port of Wellington totalled £7238.

Buyers. Sellers. N.Z. GOVT. LOANS- £ s. d. £ s. d. 43 p.c. Insc. Stock. 1939 96 0 0 — 43 p.c. Insc. Stock, 1938 96 0 0 4J p.c. Insc. Stock. 1944 — 87 10 0 41 p.c. Bonds, 1941 96 7 6 43 p.c. Bonds. 1938 ... It 0 (1 — 4i p.c. Bonds. 1930 96 12 6 — 5 p.c. P.O. Insc. Stock 1927 97 15 0 5 p.c. Bonds, 1927 97 15 0 — DEBENTURESN.Z. Breweries (Stock) 1 ,5 0 — Do. (Bonds) 1 5 0 15 9 BANKSNational of N.Z — 6 14 6 Union of Aus. (cum.) — 15 3 0 P. and 0. Bank. Corp. 9 10 0 — Eng.. Scot., and Aus. 7 13 6 —. FINANCIALAbraham and Williams (ord.) 4 6 0 National Mortgage — 3 17 0 N.Z. Guarantee Corp. (ord.. 8s.) — 0 9 11 N.Z. Loan and Merc. (ord.) . 93 0 0 Well. Invest. T. and A. 0 10 0 Well. Trust (cum.) 6 8 0 — GASAuckland (paid) 13 0 INSURANCENational 3 18 6 4 0 0 New Zealand (cum.) ... 1 18 3 — South British 2 13 6 — MEAT PRESERVING— N.Z. Rcfrigcr. (10s.) .... 0 8 0 — ( f f»fl p 2 10 TRANSPORT-JIuddart-Pa rkcr (ord.) 2 5 3 Union Steam (pref.) ... — 10 6 P. and 0. Def. Stock — 250 0 0 WOOLLENWellington (ord.) — 6 0 0 COAL1 11 9 1 12 0 TIMBERKauri 1 12 0 1 12 6 leyland-O’Bfien 2 0 0 2 0 6 National ——. 1 3 (1 BREWERIESManning and Co — 2 4 0 Staples and Co 2 0 0 2 1 11 N.Z. Breweries 2 19 7 MISCELLANEOUSBurns, Philp and Co. 1 19 0 2 1 0 Electrolytic Zinc (pref.) 1 16 3 1 17 3 Howard Smith — 1 16 6 National Electric — 1 0 0 N.Z. Drug — 3 8 3 N.Z Milk Products ... 1 11 0 N.Z. Paper Mills 1 1 0 — Wairarapa Farmers <tiref.) 0 17 0 Wilson's Cement 1 14 9 — WININGMt. Lyell 15 6 1 6 <1 ___ 14 6 Kawarau — 0 7 9

July Cwt. 466,000 Cwt. 443,000 August 423,000 468,000 September ... 306,000 431,000 October 322,000 416,000 November ... 362.000 372,000 December ... r,ra,t>00 460,000 2,462,000 2,590,000