FARM & COMMERCIAL

Dominion, Volume 19, Issue 100, 22 January 1926, Page 12

FARM & COMMERCIAL

NEWS AND NOTES

AUCTION SALES TO-MORROW. Main Hutt Road, Lower Hutt.—Sale of Sunshine Estate (H. E. Leighton). Taniaki New Bridge, 1 p.m—Sale ol bridge building and contracting plant (IL Roake ami Son). FARMING INTERESTS ■ LONDON WOOL SALES PRICES FIRM. (Ree. January 21, 7.15 p.m.) London, January 20. At the wool sales there was good competition for merinos at opening rates. Other sorts were firm. New Zealand clips: Loch I’yno brought up to 181(1. per lb., and averaged tfild.; Morea, 181(1. and 17Jd.—Aus.-N.Z. Cable Assn Messrs. Murray, Roberts and < 0.. Lid., are in receipt of the following wool market cablegram from their London agents, dated January 20:—“Improved competition: principal buyers Yorkshire. Crossbred greasy fine and medium market shows no change. Coarse market shows n. hardening tondenev. Crossbred scoured: market shows no material change.’ Crossbred slipe, par to 5 per cent, decline.” STOCK SALES Messrs. Dalgefv and Company. Ltd.. Palmerston North, report having a small entry of lambs at their Hunterville sale on January 19, which sold as below: —Medium w.f. owe lambs, bls. Gil.: medium w.f. wether lambs. 13s. Gd.: »</'diiim mixed lambs, 12s. Gd.; cull mixed lambs, Ss.

masterton a. and p. ASSOCIATION

MEETING OF GENERAL COMMITTEE

Masterton, January 21

The monthly meeting of the General Committeo of tho Masterton A. and P. Association was held yesterday, Mr. G. IL Perry presiding. The Clydesdale Horso Society advised that tho Union Steam Ship Company's Gup for the best mare or filly had been allotted to tho Masterton Show.

Tho treasurer reported a credit balance of £296.

Tho Motor Traders’ Association forwarded a sketch plan of a proposed building in which to stage tho motor display at tho show. It was slated that the association’s finances would pot. permit of such a building being erected, but it was thought that a discussion with the motor traders would be advisable. .Messrs. Perry, Ogilvy, Barton, and Compton were appointed a committee to confer with the motor traders. Four senior members and one junior member were admitted, and three resignations accepted. It was decided to hold a tug-o’-war between the committee members of the Masterton Association and the Wairarapa P. and A. Society (Carterton). A donation of £l. was voted the Masterton Fire Brigade for its prompt action in quelling an outbreak of fire at tlie showgrounds. At the, request of the treasurer several country members agreed to assist with the town canvass.

FEILDING STOCK SALE

LARGE ENTRY OF STORE SHEEP

By Tiir.EGitaph.— Press Association

Feilding, January 21

At the Feilding stock sale, to-day there was a fairly large entry of store sheep, no fats being yarded. Lambs showed a decided improvement on late rates on all sorts. Some good whitefacc owes and wether lambs were yarded. There was a. keen demand for good rape lambs. Ewes nnd wethers sold on a par with late rates. Every pen offered was sold. Fat owes. 17s.'till, (passed), two-tooth w.f. ewes 235. Gd. Store two-tooth wethers 20s. 3d. to 235. Id., wether lambs, 15s. to 18s. Id., four and five-year ewes 16s. Id. Io 19s. 10d., w.f. ewe' lambs 225. 2d., store ewes 6s. 3d. to Its. 3d., b.f. rape lambs 17s. 4(119s. 4(1- small w.f. lambs Ss. Gd. to 12s. 7d„ small b.f. lambs 10s. 2d. to 15s. 9d.. woolly b.f. lambs 16s. (id., four and six-tooth ewes 24s Bd., m.s. wj. lambs 15s. 4d. Tho cattle yarded consisted of a few nen of fat cows. There was a good yarding of store cattle. Good quality fat rows sold well. Store cattle did not meet with much competition at auction, but alter tho sale the whole, yarding sold privately. Eighteen months Tlereferd steers £4 125., 21-yca.r Hereford steers ,£5 (Is.. 31-ycar P.A. bullocks £6 Bs. Gd.. 31-vear "Hereford bullocks, forward condition. £7 7s. 6d.. 2J-.ve.ar P.A. • leers ('6 7s. 6(1- t hree-year Hereford steers .till 18s. Gd.. forward empty cows £3 17v.. f. and -f. empty 3-yea.r S.H. heifers £4 95.. rood fat S.H. cows .£6 25.. good fat S.H. heifers .£6 6s- P.A. vealers .£1 Its. 6d. PARORANGI ROMNEY SALE The eighth annual sale of Parorangi stud and flock Romneys was held at Feilding on Tuesday, and was conducted by Murray Roberts and Co., Ltd., in conjunction with Dalgely and Co., Ltd. There was a large attendance, but perhaps liardiv so representative as at last year’s fixture. The offering came forward in excellent condition. Competition was particularly keen, and bidding spirited for the studs, especially for the outstanding sheep. There -was also a good de.ma.nd for the majority of the flock rams, though a small number were passed, the supply being rather above the reouiremc.nts on the day. 'The highest prices realised were 185, 1821, 180, 160. 151. and 105 guineas. The following are particulars of studs sold on account of the E. Short Estate:— One-shear stud ram, 185gns.. Robt. Johnson. Hawke’s Bay: do.. 182lgns., A. Robottom, Ota.no. H. 8.; do., 180gns., SV. D. Stewart. Kiwitea; do., 160gns„ E. E. Short, Feilding. Two-shear stud, ram, Islgns„ Blair and Hunter. Kai Iwi. One-shear stud ram. 97}gns., N. J. Short. Feilding; do.. SOgns.. Blair and Hunter; do., 70gns., D. Kirkpatrick, Gisborne; din’ 67gns., O’Neill and Son, Kakatahi; do., (iflgns.. O’Neill Bros., AVangnnui; do'. 50gns.. O’Neill and Son ; do.. sflgns., O’Neill and Son; do., 45gns.. A. Grant, South Canterbury; do., 45gns.. J. Hannon, Marlor.. Two-shear stud ram. 45 gns AV S. Page, Halcnmbo. One-shear st (id ram. R. Ross. M’anganui; do. 40gns.. J. Tfnnter, I'brdcll: do., 38"ns.. Blair and Hunter; do.. 30gns., O’Neill Bros.; do., Aligns.. O’Neill Bros.: do.. 2(lgns.. D. Kirkpatrick; do., 20gus., J. Hannon. The above 22 stud rams averaged ' C Stud rams on account of Air. Norman Short were sold as below One-shear slud ram, 105gns„ R. Levin. Feilding; do.. 65gns.. IT. Collier, Mangnnui; do., ■rmns O’Neill and Son; dm. 29gns.. J. Hannon; do., 20gns„ A. McPherson, Turakina. , , Superior flock rams on account Estate E Short sold at 17, 18.1. 25. to 26gns. A small non was purchased by Mr. G. T.apcdnle-Hunter for shipment to tho Chatham Islands at ISlgns. A large number of flock ranis sold at ID. 11. 12. nnd 14gns.: others sold from 8 to ID eiiineas? Flock rams on account of Air. Norman Short sold nt from fi to 13gns., the majority selling in double figures. LONDON TALLOW SALES (Rec. January 21, 7.15 p.m.) London, January 20. At the tallow sales 1281 casks were offered and 220 were sold. There was no demand for good sorts. Alutton, fine 455. Gd. per cwt., medium ffls. 6(1.; beef, fine 435. 6d., medium 4l)s. 6d.—Aus.-N.Z. Cable Assn. The Bank of New Zealand, produce, department, has received the following advice from its London office, under date Jnnuaiw 20: —Tallow: Continues in poor demand. Current quotations: Good mutton. 45.3. to 455. (id. per cwt.; good beef, 425. pea- cwt. ; good mixed. 41s. Gd per cwt.; gut, 365. to 38s. Gd. per '"mCssi-s. Dalgely and Company. Ltd., report having received the lolloping cablegram from their London house, under date January 2(1:-"1290 casks of tallow offered, 236 sold. There is no quotable change.” dairy produce Messrs. Joseph Nathan and Co.. Ltd., have received the following cablegram from their London house, dated Januarv 30:—New Zealand butter, 1725. to 1745.; market weak, inactive. New Zealand cheese, 101 s. to lC2s.; coloured, 104 f.; quiet

COMMERCIAL ITEMS

WELLINGTON STOCK EXCHANGE YESTERDAY’S BUSINESS AND PRICES At tho afternoon call yesterday sales were reported of New Zealand Breweries, 10 per cent, bonds, at 255. 9d„ Bank of Australasia shares at .£l4 2s. 6d., and Kauri Timber at 325. 4d. (two parcels). Government stocks and bonds were slow. For the 4.', per cent, bonds t. 1930) buyers offered A'96 12s. 6d„ and 5 per cent, stocks D n <l bonds at X 9/ 15s. Bank shares were steady with buyers of National Bank at XG 135., Bank of New Zealand at. .£2 16s. 3d., and English, Scottish, and Australian Bank at 4:7 13s. Union Bank shares were on sale rt 't ”xis Is., cum dividend. AVellinglon Investment shares were steady at 10s.. Napier Gas shares, 4:10 paid, were iu demand at 4110 155., and AVolhngton Gas shares, .£lO paid, nt 413 55., cum. dividend. Insurance shares were slow. South British Insurance shaves were wanted at 545. There were buyers of HuddartParker ordinary shares at 445. 6d., Union Steam preference at 19s. 9d., AVestport Coal at 31s. 9d„ Kauri Timber at 325. ,3d. and Electrolytic Zinc preference at 36s*. 3d. cum. dividend. The Exchange will be' closed to-day for holiday. Yesterday’s buying and selling quotations were as under: Buyers. Sellers.

SALES IN OTHER CENTRES

Auekliiml, January 21. Sales: AVar Loan (1938). £96 ss. (1939), £!)<! •’< (Id.; New Zealand Breweries (debentures), 255. Gd.: Bank of Australasia, £ll 35.; National Bank of (ordimirvl. £l7 13s. 6(1., (contributing), £8 155.'9d.: Bank of Now Zealand, s«s. Cd ■ Now Zealand Insurance, 38s. 3d.; Northern Steam. 15s. 6d.; Kauri Timber, 325. 6d„ 325. 3d.; Burns. Philp, 405.; ,Kpiiiptbort>P» Prosser, bGs. * Milne hdu ('hovce (debentures), 245. 3d.; Sanford, Limited, 19s. 6d.; Wilson’s Cemeut, 355. t,(l ' Dunedin, January 21.

Sale: Kawi’ -iu, 6s. 7<l. Sales reported: AVestport 3-.5., Electrolytic Zinc (pref.), 375. 3d., 365. 3d., (ord.), 359. Gd. o. Christchurch. January 21.

Balos reported; Union Bank (cum. div.), £l5 Is. Gd.; U.S. &A. Bank. .£7 15s. Gd. (two parcels); Kawarnu Gold, 75., is. Id., lS Saies: Kawarnu, 6s. lid.; Commonwealth Bank of Australia (pref.), £7 25.; U.S. & A Bank £7 155.; National Bank or Australia (£5 paid). £8 55.: Union Bank (cum (It".'), £l4 18s. (two parcels): Bank of Victoria (ord., cum. div.), £8 6s. WELLINGTON WOOL SALE The third wool sale of the current senso-n. to be held in Wellingto.n, will iiegin in tho Town Hall at 7.31) p.m. today, and will be continued to-xuorrow. The catalogues to be submitted are as follow: — . Bales. Murray, Roberts and Co., and Johnston and Co 3.89'7 Levin and Co 6-045 N Z. Loan and Mercantile 2.342 N Z Farmers’ Distributing Co, ... 2,817 W.F.C.A , 2 ’ 531 Abraham and Williams and Wright, Stephenson and C 0.... 3,231 Dalgety and Co *.200

25,063 It is expected to get through two catalogues this evening, and the balance will ha’ offered to-morrow. In view of the disappointing tone of the London market and the fact that. prices at Ixapier wore easier, brokers will be quite satisfied if prices are up to December parity. WELLINGTON GAS CO. The revenue obtained by the Wellington Gas Company during the year ended December .31, 1925, amounted to £221,556, which contrasts with £211,726, the revenue for 19’4. The cost of manufacture and distribution of gas was £115.962, against .£105.738, management, salaries. general charges, etc., amounted to £33.729, as compared with £26,5.36. .and rates and taxes accounted for £12,988, as against £12,01.3, leaving the net profit at £58,877. as against £67.*109. Dividends and interest received totalled £6OlB, and there was brought forward from Hie previous vear £22,852, making xvnilablc £87.747.. Out of this £16,081 was written'ofi' plant, buildings, machinery, etc., and .£16,000 added to the depreciation reserves account. The sum of .£2OOO has been added to the superannuation fund, leaving a balance of .£53,666 for distribution. The dividend on the preference shares absorbed. £4228, and the dividend of 8 per cent, on the ordinary shares accounted for £-22,305, leaving a balance of £27.133 to be carried forward. The items of the balance-sheet with those for last rear in parentheses are as follow: — Liabilities: Paid-up capital, £363,370 (£.363.370); mortgage debenture stock, £■’oo,ooo <'£200,000); customers’ deposits, £1261 (£1110); amounts due by company, £15.368 (.£6959); dividends unpaid, £2,86 'f£lsl); retorts reserve account, £B-400 (£8100): taxation reserve, £26,608 (£25,04.fi); depreciation reserve. £33.400 (£17.400)': plant suspense account, £2500 (£2500); reserve for bad debts. £lOOO (£1000); superannuation fund, £2OOO (nil)- war loan suspense account, nil (£1560); profit and loss. £38,286 (£.34,004). Assets- Freehold property, land, buildings. ’ plant, etc.. £520.995 (£481,2.32); stocks on hand. £14.828 (£14.02.8); amounts due to company. £20.908 (£lB.953)- shares and debentures of other companies. £24.705 (£.31.580); amount owin’ on land sold, nil (£13.166); N.Z. Government war loans. £83.295 (£79.220); amount on deposit. £20.000 (£15.000); shipments afloat. £594 (£4153); credit at bank. £1654 (£4311); total, £689,979 (£661.613). NEW COMPANIES The "Mercantile Gazette” records the roLnsiration of the following new comand Fitzwater Ltd. Feed. ~q a nrivnle company December 22. 19’5. Office- Paten. Capital: 411200 in 1200 s u nr es of £1 each. Subscribers: -T. TToworth 1030. F. V. Fitzwater 200. Obinets: To acquire by purchase as a roing concern the stock-in-trade, nropertr (real and personal), book debts, and' goodwill of the business hitherto carried on at Patea by .Tames Haworth urAai- th*> tt'le of iTr.worih and TT-an*.

to buy, sell, manufacture and deal in hardware, furniture, merchandise, stores and chattels of all kinds, and general incidental. Dominion Publicity Service Ltd. Re.gd. as a private company January 19, 1926. Offices: 57 Cuba Street, Wellington. Capital: 415000, into 506% shares of 411 each. Subscribers: Auckland —F. J. V. Wilson; Wellington—W. N. Gray, 2500 shares each. Objects: To acquire and take over the patent and all other rights of a new automatic advertising machine, to carry on business of advertising agents and general incidental. GORDON AND GOTCH LIMITED The directors of Gordon and Gotch, Ltd., in their report and balance-sheet for the six months ended September 30, state:—The company’s business continues to make satisfactory progress, showing considerable improvement on the corresponding period of 1924, notwithstanding that the oversea seamen’s strike adversely affected the trading. A considerable quantity of goods sold to arrive was in Australian waters in September, but not available for delivery. The same cause was nlso responsible, to ,a large extent, for the increase of stocks (afloat and in transit). A tender has been accepted for the erection of a warehouse in Adelaide Street, Brisbane, and the work is now proceeding. The recent issue of 100.000 ordinary shares authorised at the last meeting, was fully subscribed by the shareholders. The amount paid to November 30 is .£87.416 12s. 6d. The directors thoroughly investigated and approved of a staff assurance scheme. Tho not profit for the half-year amounts to .£47,846 7s. 10d„ less provision for income tax (Federal and State). 419631 ss. Id., to which should ho added tho balance carried forward from March 31. 1925. £516 14s. 9d„ total 4138.725 17s. 6d., which the directors recommend bo appropriated as follows: Payment of a dividend at the rate of 8 per cent, per annum on 100,000 preference shares, £4OOO. at the rate of 8 per cent, nor annum on 400,000 ordinaryshares. £IG.O<IO, transfer to reserve £14.000. transfer to reserve for contingencies £4OOO (£18,000), total £38,000; carrying forward £725 17s, Gd.

Messrs. Abraham and Williams, Ltdreport:—There was an increased yarding of stock in all departments at the weekly sale, held in Levin. Prices for pork were on a par with recent rulings, but store pigs were slightly lower in price. There was a larger offering of lambs, these bringing about 2s. in excess of previous quotations. Good fat cattle were in evidence and brought prices commensurate with quality. The attendance of buyers showed a decided improvement. Rates ruling at the sale wore as follow:—Pigs: Weaners, 12s. 6d. to £l, stores 21s. to 28s. 6d. light porkers £2, medium ditto 475. 6d„ heavy £2 155., baconers £3 Ils. to £3 16s. Sheep: Mixed sex lambs 16s. 2d., cull lambs 7s. Id., medium fat ewes 195., small lambs 7s. 6d. to 9s. 2d., medium ditto As 7(1- cull ewes 7s. to Bs. Id. Cattle: Light fat heifers £4 to £4 155., forward condition cows £3 Is., weaner heifers, 17s fid to 30s- yearling heifers £2 10k., fat heifers £4 ss„ vealers 30s„ potter hulls £4 to £5 stores 30s. to £3, fat heifers ss.

N Z GOVT. LOANS- £ 8 d. £ s. d 4J p.c. Insc. Stock. 1944 — 86 10 0 p.c Bonds’. 19’1 ... — ’96 7 6 4* p.c. Bolide, 1930 96 12 6 —- 5 p.c. P.O. Inse. Stock, 1927 , 97 15 0 Do. Bonds. 1927 DEBENTURES97 15 0 — KZ. Breweries (bads.) 1 5 6 1 6 0 BANKS— National of N.Z 6 13 0 — New Zealand 2 16 3 2 17 0 —— 15 1 0 Till".. Scot., and Aus. FINANCIAL— 7 13 0 / Abraham and williams —— 4 6 0 N.Z. Guarantee Corp. t'ord., 8s.) . —— 0 10 0 Well. Invest. T. and A. 0 10 0 0 10 9 GAS— 10 15 Napier (£10) .NSURANCE0 — 4 0 0 New Zealand (cum) .... — 1 18 6 South British IRANSI’OBT 2 14 0 2 15 0 Huddart-Parker (ord.) 2 4 6 — Union Steam (pref.).... 0 19 9 •— i.OAL 1 11 9 0 17 3 r IM BE It1 12 3 —— 1 3 0 1 ■■ 1 4 0 BREW EltlEH Manning and Co — 2 3 10 Staples and Co — z 1 0 N.Z. Breweries MISCELLANEOUS- — 2 19 9 Burns, Philp and Co. «— 2 1 0 Electrolytic Zinc (pref.) 1 16 3 — Kirkealdic and Stains 1 0 0 National Electric — 1 0 0 Newton King (pref.) .... *1 IN ING ' — 0 17 0 Mt. Lyell — 1 6 b — — 1 4 7 Kawarau — 0 7 4