FARM & COMMERCIAL

Dominion, Volume 19, Issue 99, 21 January 1926, Page 10

FARM & COMMERCIAL

NEWS AND NOTES

AUCTION SALES TO-DAY. J. O’Brien’s Stables, Thorndon Quay, Wellington.—Sale Elderslie yearlings (Pyne, Gould, Guiness, Ltd.). Lambton Garage, 12.3 b p.m.—Sale of motor-cars (It. A. Wilson and Co.). 8 Willestou Street, Wellington, 10 a.m. —Sale of boots, drapery, etc. 1 p.m — Salo of carpets (E. Johnston and Co.). Upper Hutt, 1 p.m.—Stock, sale. 107 Customhouse Quay, Wellington, 2 p.m.—Sale of furnishings and accessories of ladies’ toilet salon also piano and furniture (Vine and Co.). SATURDAY. Main Hutt Road, Lower Hutt.—Salo of ■Sunshine Estate (H. E. Leighton). Tainaki New Bridge, 1 p.m.—Sale of bridge building and contracting plant (R. Roake and Sou). FARMING INTERESTS LONDON WOOL SALES decline in prices of MERINOS CROSSBREDS MAINTAIN DECEMBER RATES (Rec. January 20. 7.5 p.m.) London, January 19. At the wool sales there was a good selection and a moderate attendance of all sections. The tone was quiet, the Homo trade being the principal operators. Continentals were conspicuously quiet. Merinos declined all round and withdrawals were numerous. Greasies were 5 to 74 per cent.; scoureds, 10 per cent.; and lambs 5 to 10 per conf, below December closing rates. Crossbreds well maintained December rates. The New Zealand clip. Mount Herbert, brought up to 151(1. per lb., and averaged lad. —Aus.-N.Z. Cable Assn. OTHER ADVICES Messrs. Dalgety and Co., Ltd., report having received the following cablegram from their London house, under date January 19:—Wool sales opened. Attendance of buyers large; competition fair but irregular. Good selection merino wools; few crossbreds offered. As compared with lust sale s closing rates, greasv merinos, Id. to Lid. lower; scoured merinos, 2d. to 3.1(1. lower; greasy fine crossbreds, par to 1(1. lower; medium and coarse crossbreds, a change if any is in sellers’ favour; scoured crossbreds unchanged; slipe wools unchanged to rather lower. Wright Stephenson and Co.-, Ltd., and Abraham and Williams Ltd. report having received a cablegram from their London house with reference to London wool sales as follows: —Wool sales opened, exceptionally large attendance of buyers. Continental and Bradford buyers chief operators. Selection above average, small proportion Now Zealand wools included. Prices for average wools and scoured wools on par with last, sale, slipe wools par to 5 per cent, lower; Australian merinos price, 5 to 71 per cent, lower. The Wairarapa Farmers’ Co-operative Association Ltd. arc in receipt of the following cablegram from their London agents under date January 19:—Wool sales opened to-day and wore well attended bv Home, American and Continental buyers. Fine, medium and coarse crossbred. no quotable change. The Bank of New Zealand, produce department, has received the following advice from its London office under date January 19:—The sales have opened with moderate competition and a large attendance of buyers. There is a good demand for all kinds of crossbred wool, prices for which, compared with those at the close of last sales, show no quotable change. Prices for greasy merinos have declined td. per lb. Messrs. Levin and Co., Ltd., have received the following cablegram from their London agents, dated January 19: The auctions opened here to-day with a largo attendance of Home and Continental buyers. Bradford competition is more active than at the previous series. Compared with the closing rates of last sales, we quote: Greasy merino, best Id. per lb. cheaper, average Id. per lb. cheaper; halfbreds, 50-s G's, no change; crossbreds, 48-50’s no change, 46-48’s no change, 44-46’s no change, 40-44’s no change. 36-40's no change; scoured merinos. 3d. per Ib. cheaper; scoured crossbreds, Id. per lb. cheaper. Competition for merinos is irregular, but there is strong competition for erncsbreda. The New Zealand Loan and Mercantile Agency Company. Limited, have received the following cablegram from (heir London house:—There was a full attendance at the opening of the sales to-day and prices, as compared with the close of preceding series ruled about 5 nor cent, lower for greasv merino and 74 per cent, to in per cent. lower for scoured merino. The market is weaker for fine crossbred, but firm with upward tendency for medium and coarse crossbred. Demand for merino chiefly from the Conf'ncnt. Good demand for crossbred in Homo trade. The opening catalogues were representative.

Messrs. Murray, Roberts and Co. Ltd. are in receipt of the following wool market cablegram from their London agents, dated January 19:—Sales hare opened; large attendance of buyers; all sections operating moderately; good selection merino. Compared with last London closing rates: Greasy merino, best descriptions, par to 5 per cent, decline; other descriptions, 5 to 10 per cent, decline. Wool suitable for the Continent showed the greatest decline. Scoured merino, small demand, declined sto 10 per cent. Short and inferior descriptions show the, greatest decline. Crossbred greasy, poor selection offered. Will quote fully to-morrow. As far as can bo judged, market shows no change.

LITTLE BUSINESS AT BRADFORD

London, January 18. On the Bradford tops market there is very little business, but quotations are unchanged.—Aus.-N.Z. Cable Assn. ADDINGTON STOCK MARKET BETTER DEMAND FOR SHEEP AND LAMBS. By Tbleg iiA.ru—Press Association. Christchurch, January 20. The knowledge that the freezinz works trouble was about over had a helpful effect on the Addington market to-day. The store sheep market was much brighter, whilst both fat sheep and lambs sold with more uniformity. Fat cattle, however, lost the preceding week’s advance. Store Sheep.—A much larger entry, wethers forming the bulk of it. Forward lambs sold particularly well, as did several lines of breeding ewes. All round it was the best sale for some weeks. Good rape lambs made 225. GJ. to 215., ordinary lambs 19s. to 21s. 6d„ cull lambs 11s. to 175., three-quarterbred ewe lambs 215.. forward four and sixtoothc.l halfbred wethers 265. to 275. Bd., four and six-toothed halfbred well), ors 245. 3d. to 255. 6d., good two-toothed halfbred wethers 235. to 255., two-toothed halfbred ewes 345. >4d., aged ewes 10s. 3d. to 14s. Id., low conditioned aged ewes 6s. to Bs. 6d. Fat Lambs.—l66o were penned. There was some competition for export and the lambs made average schedule prices. Extra prime to 345., prime. 30s. 3d. to 325. 6d., medium weight 28s. to 305., light 255. (id. to 275. 9(1., stores 235. (id. to 245. 3d.

Fat Sheep.—An average entry, for which there was well sustained competition. Values were slightly easier than last week, but practically up to schedule talcs. Several export firms operated and bought n limited proportion of the entry. Extra prime, wethers made to 375. Id., prime wethers 31s. to 335. 6d., medium wethers 28s. 3d. to 30s. 6(1., light wethers 265. to 285., extra prime ewes to 31s. Id., prime ewes 265. to 38s. (id., medium ewes 225. 6(1. to 255. 9d., light cw<v, 19s. 6d. to 225. Fat Cattle. —575 were yarded, mostly cows, but generally it was a good-qual-ity entry. The entry was fiir ahead of butchers’ needs, and prices came back by 40s. to 4,55. per head for big aniipals and to 355. lor smaller ones. Extra prime beef made to 425. (>d. per 1001 b., prime 375. 6d. to 40s. 6d„ heavy-weight 345. 6d. to 375. 7d., medium quality 335. to 365., cow and rough beef from 295. 6d. down to 225. 6(1. Extra prime heavy-weight steers realised to 4119 7s. Cd., prime heavy-weight steers <EI6 to £l7 155., prime medium-weight steers 814 to £l5 155., medium steers £ll 15s. fo £l3 155., light steers £9 to £ll 10s., rough steers £6 15s. to JIS 155., extra prime heifers to £ll 17s. 6d., prime heifers £9 ss. to £ll, ordinary heiiers =£6 15s. to £9, light heifers £4 to £6 10s., extra prime cows to £l2 7s. 6d., prime cows £8 to <£lo 10s.. medium cows £5 15s. to £7 155., light cows £3 15s' to £5 10s. Vcalere.—A good sale. Calves made 15s. to 455., extra good calves to 655., runnel’s to £6 10s.

Store Cattle—Two and throe-year stecrFi realised £5 to £8 10s., two-year heifers £2 to £2 155., cows 255. to £4 ss. Dairy Cattle.—A small entry. Good springing cows made £8 to £l4, medium £4 to £7 10s., best heifers £7 to £9 10s., others £4 to £6 10s.

Fat Pigs.—A good baconer sale, but porkers eased in price. Choppers made £? to £5. baeoners £3 12s. to £5 1.55. (average per lb. 6d. to 7d.), porkers 50s. to 665. (average price per lb. 7d. to 7. 3 ,d.). Store Pigs.—An improved demand, all ’classes selling freely. Weaners made 20s. tc 285., flips 30s. to 465., stores 365. to 50s.

BURNSIDE MARKET

BEEF AND AIUTTON CHEAPER.

Br TELEGHArn.—PnEss Association Dunedin, January 20.

Features of the Burnside stock sales to-day were tho reduction in prices for most’classes of sheep and the poor quality of the fat cattle entry. There was a largo yarding of the latter class, but the supply of prime ox beef was sparse. A consderablo number of cows and heifers, several of which wore of nice quality, was included in tho Sh'eep—An entry of 1G93 head. A good quality yarding, including extra and well-finished heavy wethers. Freezing buyers were not operating, and as the number of animals forward was iu excess of the butchers’ requirements, prices receded about 2s. per head, and were about equal to those realised two weeks ago. Extra fine heavy wethers brought 41s. to about 465., medium from 30s. Gd. to 325. 6d., light and unfinished to 28s. Gd., prime ewes went at ,30s. to 345. 6d.. medium from about 255. to 275., until the finish of the sale, when prices receded a shade. Primo ox beef brought 455. to 475. Gd. per 1001 b., medium 42s fid., prime heifers 325. Gd.. cows and light heifers 255. to 30s Fat Cattle.—The yarding was fairly big, though the supply of prime ox beel was not up to the usual. A considerable number of cows and heifers, some of very nice quality, was in tho entry. Prices eased from 10s. to 15s. One steer brought £2O. Primo bullocks lirought from £.17 10s. to £2O, medium from £l4 10s. to £l5 155., light £lO to £l2, prime cows and heifers made from £lO to £l2 10s., medium £7 10s. to £9 10s.. others from £1 to £7. Fat Lambs.—There were 382 head penned. Tho yarding wns of good quality, nnd the demand was fair. Prices showed little change, prime lambs being sola on a basis of from 81d. to 9.1'1 per lb. There was a large entry of store cattle. The yarding consisted principally of eows and yonrg cattle. Very few steers wore brought forward. The demand was not very keen, but practically all pennings were, disposed of at prices about on a par with' those realised at previous sales. Cows in good condition sold up to £lO. Pigs were in largo supply, and there was fair demand, all linos being eventually cleared. Prices for prime, porkers showed a. reduction of about 10s. per head, but haveners were sold at rates fully equal to those obtained at last week's sale. STOCK SALES M, ..-.s. Dalgety and Co., Lid., report that nt their Levin sale on Tuesday last a fair entry of both sheep and cattle came forward. Lambs made an advance on last sale prices, but owes were hard to sell. Cattle sold at late rates. (Flotations.:—Forward cows, £3 Is. to £3 2s. fid.; renters, 305., 355.. to £2 165.; store cows, 355. to. £2 55.; 2-year steers, ■ £3 155.; springing heifers, £4 15s.

COMMERCIAL ITEMS

WELLINGTON STOCK EXCHANGE YESTERDAY’S BUSINESS AND PRICES At the afternoon call yesterday eales were reported of Bank of New Zealand shares at 565. 6d., New Zealand Insurance shares at 38s. 6d., Huddart-Parkcr ordinary at ’lss. 3d., Leyland-O’Brien Timber at 40s. 6d., New Zealand Breweries shares at 595. Gd„ and Electrolytic Zinc preference at 365. 9d. (two parcels). Government stocks and bonds were steady. For the 5 per cents. £97 15s. was bid, and for the 5} per cents. £99 7s. 6d ' Bank shares were steady and unchanged. There were buyers of National Bank shares at £6 135., Bank of. New Zealand at 565. 6d., Bank of Victoria at £8 2s. 6d. cum dividend, and English, Scottish and Australian Bank at ”<£7 14s. * Sellers quoted <£l4 ss. for Bank of Australasia shares, £44 ss. for Bank of New South Wales, and Union Bank at <£ls Is. Gd. cum dividend. Napier Gas shares <£lo paid were in demand at £lO 155., and Wellington Gas shares <£lo paid at £l3 ss. Insurance shares were steady. There were buyers of National Insurance at 78s. 6d„ New Zealand Insurance at 38s. 3d., and South British Insurance at 545. 3d., a rise of 9(1. Huddart-Parkcr ordinary shares were firm at 445. 9d., and Westport Coal at 31s. 9d. Kauri Timber shares were firm at 325. There was a strong demand for Electrolytic Zinc shares, with buyers of the ordinary at 355. 3d. and the preference at 365. 3d. Howard Smith shares were wanted at 355. 6d. and Wilson’s Cement at 355. Yesterday’s buying and selling quotations were as under:— Buyers. Sellers.

SALES IN OTHER CENTRES By Telegkai’H.—Press Association

Auckland, January 20. Sales. —War Loan (1938), £96 55.; Bank of New South Wales, £44; New Zealand Insurance, 3Ss. 3(1.: South British Insurance, 545. Oil.; Pukemiro Collieries, 475. (id.; Auckland Gas (emit.), Bs. 6(1.; Kawarau, 7s. Dunedin, January 20. Sales.—Kawarau, 7s. (four sales); New Zealand Refrigerating (cont.). Bs. 2d.. Sales reported—National Insurance, 70s. (two sales). New Zealand Insurance, 38s. 6d.; Bank of Now Zealand, 565. (id. (two). Christchurch, January 20.

Sales Reported.—Bank of Australasia, £l3/3/6: National Bank of N.Z., £6/14/-; Union Steam (pref.), 20/-; Staples' Brewnrv, 40/-. Sales. —N.Z. Breweries, 50/8; Mt. Lyell, 2G/3 (2 parcels).

N.Z. REFRIGERATING CO.

The balance-sheet of the New Zealand Refnigera ting Company for tho year ended October 31, 1925, has just 'been circulated. The balance-sheet affords very little information, and it is impossible to say what tho operating costs during the year amounted to. The net revenue, including transAr fees, amounted to £38,329, as compared with £59,163 in the previous year, a shrinkage of £20,834, or about 34 per cent. With the sum of £49,039 brought forward there was available for distribution £87,368, which contrasts with £106,539 in 1924. Tho dividend for tho year absorbs £37,500, leaving £49,868 to lie carried forward. Tho dividend, which is equal to 6} per cent., is at tho same rate as was paid last year. The balancc-sh<v>t items, witih thosn for last year in parentheses, are as follow:—Liabilities: Paid-up capita], £600,000 (£600,000); secured debentures, £150,000 (£150,000); reserve fund, £llO,000 (£90,000); sundry creditors, advances, provision for depreciation cf investments and for contingencies, £549,379 (£354,251); balance, profit and loss, £72,368 (£91.539). Assets: Land, buildings, machine!v. and plant, £755.545 (£777,728); secured debentures on Pukerui Freezing Works. £l-42.500 (£151.150) ; sundry debtors investments, consignments and stock in works. £582,934 (£346,805); cash in bank £768 (£10.107). Total. £1.481,747 (£1.285,700). Apparently £20,000 was added to the reserve fund during the year, but the source from which the amount was drawn is not disclosed.

CUSTOAIS REVENUE. The Customs revenue collected yesterday at the port of Wellington totalled £8412.

N.Z GOVT. LOANS- £ 8. d. £ s. d. 46 p.c. Insc. Stock, 19-38 — 96 7 6 54 p.c. do., 1933 J }9 7 6 — —— 87 0 0 44 p.c. Bonds, IfWl — 7 6 ii p.c. Bonds., 1939 96 7 6 A} p.c. Bonds, 1938 — 96 7 6 44 p.c. Bonds, 1930 96 10 0 — 53 p.c. Bonds, 1953 99 7 6 100 0 0 5 p.c. Bonds. 1927 ....... 97 15 0 5 p.c. Insc. Stock, 1927 97 15 0 — DEBENTURESN.Z. Breweries (stock and bonds) — 1 5 9 BANKS- — 14 5 0 National of N.Z 6 13 0 New South Wales — 44 5 0 New Zealand 2 16 6 2 17 0 Union of Aust, (cum.' 1 - 15 1 6 Victoria (cum.) 8 2 6 — Eng.. Scot, and Aust. 7 14 0 FINANCIALAbraham and Williams ) 4 6 0 (Pref.) 4 15 6 N.Z. Guarantee Corp. (ord.. 8s.) —— 0 10 0 (Veil. Invest. T. and A. 0 10 0 -- GASNapier (£.10) 10 15 0 —— Wellington (ord.) 13 5 0 — INSURANCE— Nation;!) 3 18 6 — New Zealand 1 18 3 1 18 9 South British 2 14 3 MEAT PRESERVINGN.Z. tiefrig, (paid) — 0 17 9 N.Z. Refrig. (10s.) — 0 8 9 d ear — 2 10 TRANSPORT-JTuddart-Parkcr (ord.) 2 4 9 —- COAIr1 11 9 1 12 6 Walpa 0 17 3 TIMBER1 12 0 — National _ 1 2 9 Bartholomew , •— 1 4 0 BREWERIESManning and Co. — — 2 4 0 N.Z. Breweries —— 3 19 9 MISCELLANEOUSBurns, Philp and Co. —- t 1 0 Electrolytic Zinc, (ord.) 1 15 3 Do. (pref.) 1 16 3 1 17 3 Howard Smith 1 15 6 — Wnirarapa Partners (£t) 0 18 0 Do (prof.) 0 17 0 —- Wilson's Cement 1 15 0 MININGMt. Lyell 1 5 9 16 6 Kawarau — 0 7 6