FARM & COMMERCIAL

Dominion, Volume 19, Issue 112, 5 February 1926, Page 12

FARM & COMMERCIAL

NEWS AND NOTES

AUCTION SALES TO-DAY. 310 Oriental Parade, Wellington, 1.30 p.m. —Sale of furniture (Johnston and Co.). "Ambassador,” Willis Street, Wellington, 10.30 a.m.—Sale of contents of "Ambassador” Cabaret (E. Johnston and Co). 8 Willeston Street, ’Wellington, 1.30 p.m.—Sale of damaged boots, shoes and drapery (E. Johnston and Co.). TO-MORROW. Liverpool Road, Trentham, 1.30 p.m.— Salo of furniture (E. Johnston and Co.). MONDAY. Pahiatua. —Ewe fair (W.F.C.A.). Plimmerton.—-Sale of breeding ewes on behalf of various clients (N.Z. Loan and Mercantile Agency Co., Ltd.). FARMING INTERESTS LONDON WOOL SALES London, February 3. At the wool sales there was a good selection of merinos, at firm late rates, and a poor selection of crossbreds, with prices a shade easier. New Zealand “Wakio,” brought up to 21{d., and averaged 19} d. per lb.—Aus.-N.Z. Gable .Assn. ! * AUSTRALIAN WHEAT • HARVEST REVISED ESTIMATES. Melbourne, February 4. Revised estimates for the Australian wheat harvest indicate that the total yield will be approximately 110,000,000 bushels. The area cultivated is 10,300,000 acres, showing an average yield of 10.7 bushels per acre. The figures compare with 164.000,000 bushels, 10.819,000 acres, and 15.21 bushels per acre for the 1921-25 season.—Press Assn. DANNEVIRKE SHOW The entries received by the Dannevirke A. and P. Association for'inclusion in the catalogue for their annual show on Wednesday and Thursday next are very satisfactory, particularly in face of the severe drought which has prevailed in Hawke’s Buy and the Wairarapa this season. They total, exclusive of the school competition entries, 1834 compared with 1863 last year, and when the post entries for home industries are received it is confidently anticipated (hat last year’s grand total of 2433 will ;be topped. A feature will undoubtedly be the dairy cattle, which show a marked improvement. many small farmers being amongst the exhibitors, while the display of jerseys promises to be the best seen on the ground, many new exhibitors having signified their intention of participating. The competitions, side shows, and trade exhibits (in which motor-cars predominate) will furnish natrons with ample amusement and interest.

FEILDING RAM FAIR PRICES DRAG AT BEGINNING. “Dominion” Special. Palmerston North, February 4. About 2200 rams aro being offered for sale at the Feilding annual ram fair to-day and to-morrow. The fair is being conducted at the Feilding showgrounds. The Sheep, comprising mostly stud and flock Romneys, with a few Southdowns, aro in good condition, but owing to tho wet weather aro not looking their best. At the commencement of tho sale prices dragged, and buyers showed little enterprise, with the result that many entries were passed in. The best prices in the early part of the sale was J;l4 14s. offered for a pen of four rams, on behalf of E. E. Short, which pen had won first prize in its class at the show. Tho sheep offered on behalf of Hansen Bros, were sold at T 5 ss. A pen of four offered by G. E. Allen, Masterton, brought, 8} guineas. J. .W. Stewart, Waiata, offered two pens of four, which brought 8 guineas. S. G. Perry offered two pens of four, which sold at 4 and 3 guineas respectively. Other sales included Ci G. Durmer, 10 guineas; W. C. Snow, Feilding, GJ guineas; Gorton, 3 and GJ guineas; J. E. Hewitt, 8 guineas. Ou account of W. H. Gibson’ two pens were passed in at 5J guineas, and one was sold at GJ guineas. Hansen Bros, sold ono at 5 guineas; 11. Bowen, Bulls, sold one for 4 guineas, and one was passed in at 3 guieas. 11. B. Johnston. Cheltenham, sold one nt 8 guineas, and one was passed jn at 5 gucneas; J. E. Hewitt sold one at 8 guineas, and one was passed at 7.1 guineas; W. Small, one at 8 guineas; J. W. Stewart, Wairarapa, one at 8 guineas; W. E. Baker, one at 13 and one at 15 guineas. G. E Allen’s first prize ram created spirited bidding, and sold for 21 guineas. A second ram from the same vendor fetched 18 guineas. The sals' of flock Romneys, not show sheep, saw many entries nassed on account of indifferent bidding. Prices ranged from 1J to 8 guineas. LONDON TALLOW MARKET London, February 3. At the tallow sales 1183 casks' were offered and 527 casks were sold, mostly at 6d. per cwt. decline. 'Mutton, fine 455. Gd. per cwt., medium 405.; beef, fine 425. 9d., medium 395. Gd.—Aus.-N.Z. Cable Assn. The Bank of New Zealand produce department, has received the ’ following advice from its London office under date February 3:—Tallow: There is a poor demand, and prices have weakened. Current quotations—Good mutton, 445. to 445. Gd. per cwt.; good beef, 40s. 6d io 41s. per cwt.; good mixed, 40s. to 495. Gd. per cwt.; gm:, 355. Gd. to 38s. per cwt. Messrs. Dalgety and Co., Ltd., report having received the following cablegram from lheir London house, under date February 3:—"1185 casks of tallow offered; 592 sold. Bettor descriptions are Gd. P er * nwer > other sorts nominally unchanged.” STOCK SALES Messrs. Dalgety and Co., Ltd'., report having offered a large yarding of sheep at tho Wanganui East sale on Wednesday, when practically the whole entry was sold. Quotations: GOO 4-vear ewes, ex Lismore Station, 245.; 500 cull lambs, 10s. Id.; 250 woolly b.f. lambs, 18s.; 150 4 and 5-year ewes, 205.; 130 shorn b.f. lambs, 175.; 100 2 and 4-tooth ewes, 265. 3d.; cull lambs, 7s. 6d. to 10s.; 4 and 5-ycar Romney rams, IJgns. Messrs. Abraham and Williams, Levin, report:—The offerings at the Levin saleyards showed an appreciable increase in all sections, particularly in pigs, where every pen in the pig pavilion was taken up. Pork and bacon sold well, stores maintaining recent rates. Sheep came forward well and there was a good inquiry at prices on a par with recent quotations., There was ( no change . in prices realised for cattle, although practically everything submitted for sale was! cleared. Woolly Romney lambs made from 12s. to 18s. apiece. Sheep: Fat sheep (chiefly ewes), 205., Bd.; 2-tooth wethers (small), 18s. 6d.; ditto ewes, 19s 4d.; store ewes, 6s. 4d. to 10s. 9d.; b.f. rape lambs, 1,75.; store lambs. 10s. 2d.; cull lambs, 6s. Bd. to 9s. 3d. Cattle: 21- , year-old steers, Ul5; renters, 365. to £3 10s.; light fat cows, A 3 17s. to £1 55.; fat heifers, A. 3 155.; forward cows, £2

10s. to X-3 55.; stores. 255. to 305.; 18 months P.A. steers, .€.3 Ils.; bulls, ac. cording to quality, .<£2 2s. 6d. to XI 17s 6d. Pigs.—Wenners 13s. 5d.; stores, XI to 255.; light porkers, X2 to X2 75.; light baconers, X2 17s. to X2 195.; good ba. eoners, X 3 Is. Messrs. Dalgety and Co. Ltd., Palmerston North, report having a moderate entry of sheep and a fair yarding of cattle at their Taihape sale on February 3. Quotations; Cull lambs, 6s. Id., Bs. 6d.. and 9s. Id.; small lambs, 10s, to Us. 2d.; medium lambs, Its. 2d.; twoyear steers, Xf 15s ; 2j-.ve.ar steers, X 5; 3-year steers, forward, XG Bs,: 4 and 5ycar bullocks, X 7 75.: forward bullocks, X 8 18s.; fat cows, j£s. DAIRY PRODUCE GRADING FIGURES FOR JANUARY. Tho figures of the Dairy Division or the Department of Agricultu.ro show that tho salted butter graded for January were 8213 tons, and the unsalled 401 tons, a total of 8614 tons, compared with 9788 tons salted and G 25 tons unsalted, a total of 10,413 tons for January of last .year; a decrease of 17.2 per cent. For the six months ended January, the respective quantities were 39,073 tons and 2323 tons, a total of 41,396 tons compard with 45,289 tons and 2706 tons, a total of 47.995 tons for the corresponding period of tho preceding season, a decrease of 13.7 per cent. The cheese graded for January coin" prised: White 6918, coloured 3187 tons, a total of 10,405 tons, compared with 6889 tons white and 3368 tons coloured, a total of 10,257 tons for January, 1925, an increase of 1.4 per cent. Tho quantities for tho six months ended January, 1926, were: White 28,501 tons, coloured 15,377 tons, a total of 43,878 tons, compared with 27,134 tons white and 11,723 tons coloured, a total of 41857 tons for tho corresponding period of the preceding season, an increase of 4.8 per cent. •Converting these figures into butterfat equivalent, there is a decrease of 8.4 per cent, in butterri'at production for tho six months, as compared with the corresponding period of the 1924-25 season. Stocks held in the various grading ports at January 31 w(|re: Butter 9070 tons, cheese 9390 tons. DAIRY PRODUCE

The New Zealand Loan and Mercantile Agency Cp., Ltd., have received the following cablegram from their London house under date February 3:—Dairy produce: Butter—New Zealand choicest, 1765. per cwt.: exceptionally choice 178s’ per cwt., very slow; Australian, 168 s. to 170 s. per cwt.; Danish. 188 s. per cwt. Cheese—First grade, 100 s. to 105 s. per cwt. Market quiet. NEW YORK RABBIT-SKIN SALES. (Rec. February 4, 7.15 p.m.J New York, February 3. Auction prices for sixty-two tons of Australian and New .Zealand rabbitskins averaged 10 per rent, above last October’s sale rates. Prices ranged as follow:—New Zealand furriers’‘first winter skins. 2 dollars 26 cents nor lb.: rack. 90 cents.; Australian, firsts, 1 dollar 68 cents; hatters’ greasy. 65 cents.

COMMERCIAL ITEMS

WELLINGTON STOCK EXCHANGE YESTERDAY’S BUSINESS AND PRICES At the morning call yesterday sales were reported. of Western Australian Bank shares at 555. (id., and Electrolytic Zinc preference at J 7 Cd. At the afternoon call a sale of 41 per cent, stock (1938) at £96 was reported. The market • was a bit quiet yesterday. Government stocks and bonds were slow. The 41 per cents, were in demand at £96, and the 5 per cents, at £9B. There was practically no demand for bank shares, except for a bid of 565. 9d. for Bank of Now Zealand shares. Sellers quoted £44 7s. 6d. for Bank of New South Wales shares, and £l4 Ils. for Union Bank shares. National Mortgage shares were firm at £3 15s Wellington Gas shares, £lO paid were 2s. 6d. higher at £l3 2s, 6d. Insurance shares were sfc'adv.’with buyers of National Insurance "at 78s. 9d., and New Zealand Insurance at £1 18s. 6d. There were buvers of N.Z. Refrigerating shares, 20s. paid, at 16s. 9d„ and 10s. paid at Bs. Huddart-Parker shares were in good demand the ordinary at 455. 9d. and the preference at 20s. 6d. Westport Coal shares were 3d. better at 325. 9d. There were buyers of Leyland-O’Brien limber shares at 405., Manning and Co. at 425. Bd Electrolytic Zinc, preference, at 37s Taranaki Oil at 12s. 6d„ Wellington Cordage at 16s. and Wilson’s. Cement at 365. 3(1. Yesterday’s buying and selling quota-

SALES IN OTHER CENTRES Bt Tbligraph— I’iiess Association Dunedin, February 4. Sales: 51 per cent. Soldiers’ Bonds (1633), £99 10s. Sales reported: Bank of New Zealand, 575. (two. sales). Auckland, February 4. Sales: New Zealand W ar Loan (1927), £9B 2s. 6d.; Auckland City debentures (1930), £O5 10s.; New Zealand Breweries (debentures), 255. Bd.; Bank of New Zealand, 575. 3d.; Union Bank, £l4 135.; New Zealand Insurance. 38s. 7d.: South British, 555.; Auckland Gas, 225. 5d.; Northern Steam, 15s, 3d.; Farmers’ Auctioneering (B pref.), 175.; Taranaki Oil, 12s. 9d.; Union Oil and Soap, 415.; Kawano, 6s. lOd. (two sales). Christchurch, February 4. Sales reported; Bank of Australasia, £l4 55.; Gienmore ’ Brick (cum. div.), 285.; New Zealand Government 44 per - cent.. Inscribed (1038). £O6 (two parcels); New Zealand Breweries (bonds), 255. 9d. (five parcels): Bank of New Zealand, 575.; Union Bank of Australia, £l4 13s. 6d.; Manning’s Brewery, 435. Sales: New Zealand Government 44 per cent. Inscribed (1935). .£96; National. Bank of Australia (£lO paid), £l7 12s. 6d. (two parcels): Bank of, New Zealand, 575. 3d. (throe parcels): Australian Bank, 555. (two parcels); Goldsbrough Mort, 48s. (eight parcels); Manning Brewery, 435. Hubert L. Nathan and Co., Stock and Sharebrokers. Telegraphic Address, “I-lunat,” Wellington. Telephone No. 42—889. Member Wellington Stock Exchange.—Advt.

CUSTOMS REVENUE. The Customs revenue eollected rosterday at the port of Wellinglop totalled X 10,734. P.O. SAVINGS BANK For the fifth year in succession the Post Office Savings Bank returns show an "excess of withdrawals over deposits, as will be seen by the table appended: Excess With- of witliDeposits drawals drawals Year. X X -C 1921 30,613,112 30,970,638 327,526 ... 26,364,233 27,737,327 1,37,3,094 IW ... 28,975,580 29,294,996 319,416 PP4 29.359.265 30,292,891 933,626 1925 32,010,949 32,328,072 287.123 The deposits and withdrawals last year were much in excess of any of the previous years given in tho table, while the excess of withdrawals was smaller. During the first half of last year the deposits were in excess of tlie withdrawals by. X 939.497, and the outlook for the continuation of such a movement appeared good, but in the third quarter of the year there was an excess of withdrawals of X 283.981, and in the final quarter of the year an excess of X9l-2.G39, tlie withdrawals in the second half showing an excess of X 1,226.620, and making the net withdrawals for the year X 287.12.3, . The excess of withdrawals over deposits in the December quarter of last year was the greatest of any quarter in the five years, and was probably due to increased holiday expenditure associated with the Dunedin Exhibition. The Post Office Savings Bank does a wonderftilly big business, for in the five years it handled X 147.383.139 in deposits nnd X 150.623.924 in withdrawals, and the excess of withdrawals over deposits in the period aggregate X3.240,785. The total at credit of the customers of the Post Office Savings Bank at the close of each year has shown a substantial increase, but that is because the amount payable in interest by the bank amounts to over a million and a quarter sterling. The figures indicate that the rconlo nre not saving as much ns fbev -’onbl nnd should, anil it is also prolvib’c that mnnv people make tenlnornrv use of the Post Office Savings Bank. PRUE OP GOLD. London. February .3. ’ Tlie price of gold is X 4 4s. 11 Jd. an ounce.

CALCUTTA TEA SALES. Calcutta, February 3. At the tea sales, good teas obtained full prices. There was also more demand for nippy sorts at dearer prices. Dusts were in strong demand ut special prices. Broken orange pekoe, common, 15 annas; medium, 17 annas; good, 19 annas. Broken pekoe, common, 14 annas 6 pies; medium, 15 annas, 6 pies; good, 16 annas 6 pies. Fanning’s, common, 1.3 annas 6 pies; medium, 15 annas 6 pies; good, IS annas. There was rather more inquiry for clear common black leaf, which advanced half an anna. Good medium leaf and broken were firm, but plain, thin-liquoring Fanning's and rough leaf and stalky descriptions were irregular and easier. AUSTRALIAN PRODUCE MARKETS. (Rec. February 4, 9.25 p.m., Sydney, February 4. Wheat, bagged, 6s. 3d. pei bushel, ex trucks Sydney, and ss. Bd. at Country sidings: bulk, 6s. Id. and ss. 6d. respectively. Oats, Tasmanian Algerian, 4s. 7d. per bushel; white, ss. 10d. Maize, South African, ss. lOd. per bushel. Potatoes, Tasmanian, XlO 10s. to Xl2 per ton ; Victorian. X 9 to XlO. Onions, Victorian Xl2 to Xl4; Adelaide, February 4. Wheat.—Growers’ lots. ss. Hid. per bushel; parcels nominally 6s. 3d. to 6s. 4d. Oats, 2s. 9d. to 3s per bushel.

tions were as under: Buyers. Sellers. N.Z. GOVT. LOANS- £ . d. £ s. d. 41 p.c. Insc. Stock. 19o8 —— 96 2 6 hk n.c. Insc. Stock. 1933 -- 99 15 0 41 n.c. Bonds, 1941 — 96 2 6 "Do., 1939 96 5 0 Do.. 1938 96 0 0 — 5 p.c. P.O. Insc. Stock 1927 98 0 0 — 5 p.c. Bonds. 1927 DEBENTURES98 0 0 N Z. Breweries (Bonds) — 1 6 0 banksNow South Wales •— 44 7 6 2 16 9 — Union of Australia .... — 14 14 0 FINANCIAL— Abraham and Wllhama (ord.) — 4 0 u Goldsbrough Mort — 2 8 3 National Mortgage ... 3 15 0 — N.Z. Guarantee Corp. (ord., 1 8s.) — 0 9 10 Do. (pref.) — I 2 b N.Z. Invest., Mortgage . and Deposit —- 0 9 6 GAS- . Wellington (ord.) 13 2 6 — INSURANCE3 18 9 3 19 National 9 New Zealand (cum.)... 1 18 6 1 19 3 South British —- 2 15 3 MEAT PRESERVING— 0 16 N.Z. Refrigcr. (£1) 9 Do. (IDs.) - Gear ; 0 8 0 0 8 6 — ■ 2 0 6 FRANSPORT— ?, 5 Hnddart-Parker (ord.) 9 2 6 6 Do. (pref.) 1 0 6 — COAL1 12 1 13 Westport 9 6 Waipa — 0 17 0 TIMBER Leyland-O’Brien 2 0 0 2 0 6 National 1 2 6 BREWERIES Staples and Co — 1 19 b Manning an 1 Co 2 2 6 2 3 3 N.Z. Breweries ...- 2 19 9 MISCELLANEOUSBurns, Philp and Co. — 2 0 0 Electrolytic Zinc t 17 (pref.) 0 — Farmers’ Co-op. Auction. 0 18 (pref. A.) - — 6 Howard Smith 1 16 6 Kirkcaldie and Stains (pref.) — 1 0 0 Newf.on . King (pref.) . — 0 17 0 N.Z. Drug - — 3 10 0 Taranaki Oil Fields .... 0 12 6 — Wellington Cordage .... 0 16 0 —- Wilson’s Cement 1 16 3 — MININGWaihi .. 1 4 0 Kawarau .... - — 0 7 3