FARM & COMMERCIAL

Dominion, Volume 19, Issue 117, 11 February 1926, Page 10

FARM & COMMERCIAL

NEWS AND NOTES

AUCTION SALES TO-DAY. Ma 11 gaweita.—Ewo fair. Otaki.—Stock sale. Martinborough.—Ewe fair. Milford Road, Palmerston North, 11 a.tn.—Sale of furniture (Mounsey and Co.). 8 Willeston Street. Wellington—Sale of carpets’and furniture (E. Johnston and Co.). TO-MORROW. I’aekakariki, 1.30 p.m.—Sale of j acre of land, a/c Gilbert James (L. Carmichael ami Co.). IGO Svdnev Street West, Wellington, 10.30 a.m—Sale of furniture (Ramsey Wilson). SATURDAY. Seddon Street, Lower Hutt, 2 p.m.—Sato of furniture (11. E. Leighton). FARMING INTERESTS FARMERS’ UNION MEETING OF GREYTOWN BRANCH. “Dominion” Special. Masterton, February 10. A meeting of the Greytown branch of the Farmers' Union was held at 'Morison’s Bush on Monday nighL Mr. Hugh Morison presiding over an attendance of sixteen members. At the previous meeting of the branch it was decided to agitate for an improved rural mail service and a continuous telephone service for Greytown. In regard to this matter the provincial secretary reported that improvements had been effected to the rural mail service by the introduction of a motor car to replace the old system of delivering mails by cycle. In conjunction with the union, the Greytown Chamber of Commerce had been moving for a continuous telephone service. It was decided to lend all the support possible to the chamber in its efforts. Considerable disappointment was expressed] by several members at the scale of charges for current being imposed by the Wairarapa Power Board, and it was decided to invite a responsible authority from the board to meet a deputation from the Farmers’ Union to further explain the situation, and also the alleged delays in the installation of plant after deposits have been paid. Other Wairarapa branches are to be invited to participate in the matter. The speying of cows was discussed at length, and it was resolved to, endeavour to organise a speying campaign throughout the Wairarnpa, commencing from October.

LONDON WOOL SALES PRICES OF GOOD SORTS VERY FIRM. London, February b. At the wool sales there was a miscellaneous offering. Competition was very keen, and all good wools were very firm at late rales. Th* New Zealand clip ST brought up to ISd. per lb., and averaged l"d., Whanakino up to 151 d„ and averaged Hid. The Bradford tops market is quiet, there being very little business. Quotations are in buyers’ favour. —Aus.-N.Z. Cable Assn. OTHER ADVICES The Bank of New Zealand, produce department, has received the following advice from its London office, under date February 9:—The sales have closed firm for all kinds of wool. Current quotations: Crossbreds, fine, 16d. to 1”<1. per lb., medium, ltd. to 15d.. coarse, 13d. to 14d.; halfbreds. 17d. to 20d.; merinos, super, 23d. to 25d., ordinary, 20d. to 21d., inferior, 17d. to 19d. Messrs. Murray. Roberts and Co., Ltd., are in receipt of the following wool market cablegram from their I-ondon agents, dated February 9:—Sales have closed with a firm tone, and good general competition. 75 per cent, of the offering being sold. Bradford buyers were the principal operators. Compared with present Juondon sale’s opening rates greasy merino shows par to 5 per cent, advance. Wcol suitable for the Continent shows the greatest advance. Scoured merino, best, par to 5 per cent, advance; inferior, market irregular and shows no material change; crossbred, greasy, market very firm; crossbred scoured, market shows no material change: crossbred, slipe. fine, declined .> per cent.; other descriptions, market shows no material change. Compared with last London sale’s closing rates, greasv lambs have declined 10 per cent. The following prices are quoted, closing rates being given first and opening rates second;—6o-64’s (N.Z. merino), yielding 48 per cent.. 21d., 211 d.; 56s yielding 60 per cent., 201 d., 21d.; 50’s yielding 65 per cent. 171‘d.. 17Jd.; 41-46’s preparing yielding 74 per cent., 15d., 15d.; 44-46 s curding yielding 72 per cent., Hid., Hid.; 40-44’s, yielding 73 per cent., Hd„ 14R1. Messrs. Dalgcty and Company, Limited, report having received the following cablegram- from their London house, under date February 9:—Wool sales closed firm with hardening tendency; competition strong. Continental buyers are operating more freely. As compared with closing rates of last scries: Greasy merino, good to super, Id., to Ild.‘ lower, low to medium, Id. to lid. lower; greasv halfbred, -Jd. io Id. lower; greasy fine crossbred, par to Id. lower; medium and coarse crossbreds, unchanged; scoured fine crossbreds, par to lid. lower; scoured, medium and coarse crossbreds, par to jd. lower; slipe, fine crossbreds, Id. to lid. lower; greasy crossbred lambs, Id.' to Ild. lower; scoured merinos, average to good. 2d. to 4d. lower; scoured merinos, inferior, 3jd. to 4Jd. lower; medium and coarse slipe crossbred, par to Id. lower. There were 166.500 bales wool offered, including 50.000 Now Zealand, 5000 Cape, 4060 South American; 133.500 colonial. 50(10 South Anftrican, and sundry sold. Continent bought 62.000, Home trade 70,000, America 6000 : 41.000 bales were carried forward, of which 22.500 were not ofiered.

The following is the range.of prices:— Merino, good to super. 21d. to 241 d.. low to medium, 16Jd. to 19!d.; halfbred, 5658, good to super. 20d. to 23d.. 56-58. low to medium. 17d. to 19d., 50-56. good to super. 18d. to 20d., 50-56, low to medium, 15ld. to 17d.; fine crossbred. 4850. good to super. 16d. to 18d.. 48-50. low to medium, 14d. to 151 d., 46-48. good to super. 15jd. to 17d.. 46-48, low to medium, 13ld. to 15d.; crossbred, 44-46, good to super. Hid. to IGd., 44-46, low to medium, 13d. to Ud.. 40-4-1, good to super, 14d. to 15d., 40-44, low to medium, 12Jd. to 13d.; coarse crossbred, 36-40, good to super, 131 d. to Hid., 3640. medium to good. Hid. to 131<1. Messrs. Wright, Stephenson and Co., Ltd., and Abraham and Williams. Ltd. report having received cabled advice from their London house, ns follow: — Wool sales closed, market firm, competition animated. Continental and Bradford buyers chief operators. Total offered for series 156.060 bales, of which 139,000 bales have been sold. Ordinary New Zealand lopmaking wool prices: Greasv. fine halfbred. 56-58’s, 19.Jd.; halfbred, 50-56’s, 171 d.; three-quarterbred, 4850's, 161 d.: fine crossbred, 46-48’s, 15.<d.; medium, crossbred, 44-4 G’s, H?d.; crossbred, 40-44’s, 14d.; crossbred lambs. *’4650's. 15d.; scoured prices, par; slines, par to 5 per cent, lower; Australian merino, par to 5 per cent, higher. New Zealand Loan and Mercantile A gene v Company. Limited, liace received the following cablegram from their London house, under date February 9:— Wool Sales. —The sales closed firmly today. As compared with last sale’s closing rates, prices are lower about 5 pc cent, for crossbred lambs and coarse and medium crossbred slipe. Prices am lower about 7J- to 10 per cent, for greasy merino, inferior and fine crossbred slipe. Prices are lower about 10 per cent, for scoured merino super, lambs, merino, and scoured 'merino medium. Prices -are about the same for greasv crossbred. Prices are lower about par to 5 per cent, for greasy merino super. Prices are lower about 5 per qpnt. to 7$ per cent, for greasy merino medium and scoured crossbred, and lower about 10 per cent, to 15 per cent, for scoured merino inferior. Home buyers arc the principal operators. Competition on French account is fairly active, and there is a fair demand i'or America. The prices realised for average to super grades of descriptions as below were as follow:— Merino, super. 24d. to 26d., average, 17d. to 21d.; crossbred, 56-58’s, 18d. to 21d., 50-56’s, 16d to 19d„ 48-50’s. 15d. to 17d., 46-48’s. ltd. to IGd., 44-46’s. 13Jd. to 15d.. 40-44’s. 13d. to HJd., 36-40’s, 12Jd. to 14<1. x Messrs. Levin and Co. have received the following cablegram from their London agents, dated February 9: —The auctions closed here to-day with a good tone. As compared with the opening rates of this series, we quote.:—Greasymerino. best, id. to Id. per lb. dearer, average. ?rd. per lb. cheaper; halfbreds and crossbreds, no change; sconreds, generally. 5 per cent, cheaper; slipe, halfbred' lambs. Id. per lb. cheaper; sline, three-qnarterbred lambs, Jd. per lb. cheaper; coarse slipes, ?d. per lb. cheaper. PEDIGREE CATTLE ARRIVAL OF JERSEY STOCK. “Dominion” Special. Auckland, February 10. The cargo steamer Canadian Spinner, which arrived at Auckland from Halifax 'this morning, brought eight pedigree Jersey cows, three bulls, and two calves. The cattle are all for delivery to North Island breeders. The cows are particularly valuable, one bull being for the farm of Mr. E. Griffiths, of New Plymouth. The other animals are consigned to Wellington. On their long sea voyage from Halifax, the cattle were housed in comfortable quarters on the foredeck. Despite the stormy weather experienced by the steamer towards the end of the voyage, the animals arrived in good condition. Those for New Plymouth were landed nt Prince’s wharf to-day. TARANAKI OILFIELDS Taranaki Oil Fields, Ltd., report tliai at Ta rata the drill is down to 4290 teet with no change in the fornnittOL'. At Moturoa the well is'■drilled to .3653 feet in shale, sandy in places. The shell is hard from .'1553 to SSLO feet.

ADDINGTON STOCK MARKET Br Telegraph.—PbEss Association. Christchurch, February 10., Heavy entries were the, rule to-d“y >« all sections of stock at the Addington market, and prices showed little difiorence. Store sheep and fat sheep were slightly easier, but fat lambs and iat cattle a little better. Store Shoep.-A heavy entry mostly of half bred lambs, with some North Island consignments of ewes, llaltbrcd lambs were easier by Is. a head, but crossbred sold more Ireely. Good ocal ewes sold at sound rates, but outsido ewes wore forward. Rape, lambs 2s. tn • medium lambs, 18s. ou. to -is. 6d.: - small lambs, 17s. to 18s. 3d.; inferior lambs. Hs. to 16s 9d.; cull lambs. 10s io 13s. (Id.: good i.hree-quarterbicd lambs to 235. Id.; medium tbree-quarter-bred lambs, 18 s - ,< ’ 1 .. 19s ' 1 W ' ! fo ! ir ’ and eight-tooth halfbred ewes, to -8s ; medium four, six and eight-tooth halfbred ewes, 265. to 285.; good tour and five-vear crossbred ewes, 235. to 2ys. 1<I.; s.m. halfbred ewes, 235. Gd. to 245. 6d ; good two-tooth three-quarterbred ewes io c Bs lid • two-tooth Romney cross ewes, to' *’6s 3d ■ four-year Romney cross ewes, to •’is 3d.; s.m. Romney cross ewes, to 225. "id.; forward six-tooth halfbred wethers, to 255. 2d. Eat Lambs-3900 weie penned, and sold at schedule rates Extra prune heavy lambs, to 325. 4d.; heavy weight, °7s Gd to 305.; prime medium-weight, 265. Gd'. to 295. 6d.; light and inferior, 245. to 265. . , „ Store lambs realised 21s. 4d. to 235. Exporters operated more freely, the congestion at the various works having been cleared. Fat Sheep.—A heavy entry of ewes, which sold cheaper. Wethers were about the sama, and quite iijp to schedule rates.. Exira prime wethers to 345. 10d.; prime wethers, 295. 6d. to 32s : medium wethers, 265. Jd. to -Is. 3d.’- light wethers, 235. Gd. to 265. Gd.; extra prime ewes, 1.0 28s. IGd.; prime ewes 245. to 265. 9d.; medium ewes, 20s to 235. Gd.; light ewes, 17s. Gd. to 19s' Gd.; old ewes, Hs. Gel. to 16s. fid. Fat Cattle—4Bo were penned, a heavy proportion of cows being included. .It was an irregular sale, with a firming over the final stages Best beef to 40s per 1001 b.; good niediuni-weiglit, 3.js. 6d. to 38s. Gc.; prime heavy-weight, 3-s. 6d to 345. (id.; medium quality, 30s. to 335.; heavy cow beef, 265. 6d. to 28s. Gd ■ light and rough, 225. 6d. to 275. 6<l ; extra prime heavy-weight steers, .£1- to £lB 7s. Gd.; prime heavy steers. £l5 to .616 155.; prime medium weight steers. £1- 15>to £l4 155.; medium quality steers, £lO 5s to £l2 10s.; light steers, £8 to £10; extra prime heifers, £l3 2s. Gd.; prime heifers, £8 10s. -to £>lo 15s. j ordinary heifers £6 to £8 55.; light heifers, £3 17s. Gd. to £5 155.; extra prime cows, to £l2; prime cows, £7 10s. to £10; medium cows £5 ss. to .£7 55.; light cows, £3 ss. to £4 15s. Vealers.—A better sale. Runners to £0 15s. , , • . . Store Cattle.—A nondescript entry. Cows. 15s. to £4; hulls, £2 10s. to £B. Dairy Cattle—There was a good demand for good cows. Best second to fourth calvers, £9 to £l3 10s.,- others, £3 to £8 10s.; best springing heifers, £8 10s. to £l2 10s.; others, £2 10s. to £6. Fat Rigs.—There was little change from last week. Choppers, £3 10s. to £6 10s.; baconers. £3 12s. tp £5 10s. (average price per lb., 6|d. to 7d.): p.orkers, 4E». to 68s. (average per lb., 7d. to Sd.) Store Pigs.—Wcaners were slow of sale. Wcaners; 11s. to 215.,- slips, 235. to 265.; stores, 28s. to 365.; large stores, 48s. to 515.; sows in pig, 355. to £3 15s. BURNSIDE MARKET By Telegraph.—Press Association. Dunedin, February 10. Sheep were cheaper at Burnside today. Good lambs were dearer, but cattle and pigs showed little change. Sheep.—An entry of 2226 head. It was a fair yarding, including a number of pens of medium quality ewes. Competition was slack, and prime sheep were easier by Is. 6d. to 2s. per head. Extra prime heavy wethers made from 395. 6d. to 465. Gd.; prime, 31s. to 335.; medium, 265. to 275. Extra prime ewes made up to 355.; prime, 245. to 275.; medium, 17s. to 18s.; light, and unfinished, from 10s. upwards. Extra heavy wethers were sold on a basis of s}d. per lb.; lightweight, 5Jd.; unfinished sorts, 41d. to 5d.; light and aged ewes, 31d. to 4d. Lambs. —A small entry, 590 being penned. Freezing lambs showed no change in value, but competition amoug the butchers was keen, and their lambs rose from Is. to Is. Gd. in price. Extra prime lamb made as much as 31s. 6d.; prime. 265. 6d. to 285.; medium, 245. to 255.; light - and unfinished. 17s. to 195.; prime Jambs sold on a basis of 9d. lb. Fat Cattle. —A yarding of 230 head There were some prime heifers and cowe and a few extra good bullocks, but thr majority were plain. Early prices were as follow: —Heavy bullocks, to £l6 17s. 6d.; lighter, £ll 10s. to £l3 155.; prime heifers, £7 10s. to £9 155.: lighter, £ z to £6 10s.; prime cows, £7 10s. to £; 155.: lighter, £5 15s. to £7 10s.; primr ox beef, 38s. to 40s. per 1001 b.; light ox beef, 405.; cows and heifers, 225. 6d to 30s. Store Cattle.—A yarding of 349 head. There was a big entry of medium sorts, mostlv cows of different ages, with a few pens of steers. Three to four-year-old animals brought to £9 fis.; two-year-old, to £5. Steers met with very fair competition, nnd cows and other sorts were unchanged. Pigs.—An entry of 111 fats and 35 stores. Fat pigs were firm at last week’s rates. VICTORIAN DAIRY PRODUCE (Rec. February 10, 5.5 p.m.) Melbourne, February 10. According to figures issued by the Assistant-Government Statistician, the production of butter in Victoria for 1924-25 showed n big increase over the previous year. Both cheese and bacon showed a' slight decline. The butter made in factories amounted to 95,454.000 lb., and on farms 5,395,0001 b., a total of 100,849,0001 b. The previous year’s total was 86.880,0001 b. Cheese made totalled 6,193.0001 b., compared with 7,216,0001 b. for the previous season. The amount of Ijflcoii find hums cu.r&d wns 31j993»006h). compared witli 22,510,0001 b. for tlie previous year.—Press Assn. JOHNSONVILLE STOCK SALE Messrs. Abraham and Williams, Ltd., and Wright. Stephenson and Co., Ltd., report on their Johnsonville sale, held yesterday:—A medium yarding of good quality camo forward, including a very prime' assortment of beef, weight and quality being well represented. Some very nice quality blackfaced wethers were penned and sold well. Good lambs and owes made up' to last week’s quolatirns The few vealers yarded sold freelv QuotationsOx, £l3 155., £l3 17s. 6d„ £l4. £l+ 2s. Gd. £H 10s.. £l4 l<s. Gd Io £l5 10s.; light, £11; cows light, £f’ 19s • vealers, 255.. 305.. 325. Cd., £2, £•’ 5s to £2 10s.; b.f. wethers. 31s. Gd.; others” 285.. 295. fid.. 305.. 30s. Id. to 30s 6d.; ewes. 20s. Gd., 21s. 3d. to 24s 6d'.‘; lambs, 225. 3d., 21s. Gd., 255„ 255. 9d. to 265. 9d. STOCK SALES Messrs. Abraham and Williams, Ltd., report on their Marton sale on February 9as follows:—We had a heavy yarding of 7000 odd sheep and have to report a very successful sale, prices showinv an advance on recent sales, there being a large atlohdance of the public. Quotations: Fat lambs, 245. Bd.; fat 2-ths. 275. Id. to 275. 7d.; fat ewe's, 195.; b.f. lambs. Hs. 2d. to 17s. 7d. : shorn wether lambs, Hs. fid. to 8s <d ; shorn ewe lambs. 17s. 3d. to 20s. fid - rani lambs. 19s. fid.; small mis lambs 11s Gd. Io 13s. fid.: cull lambs. ss. Sd'. to Kls Ad : ’>.f 2-ths, 21s. 4d. 2-th wethers. Us. 7d tn 2.>s. 3d.; 2-th owes. 255. Id. to 275.: 4 and 6-th ewes. 225. to 255.: 5-yr. owes. 19s. fid. to 245, i ( ] , heavy skinned ewes. 18s. Sd. to 215.: failing mouth ewes. 9s. fid. io 17s. Pigs: Wcaners, Hs. to 20s 6d.; cattle at Ute rates.

DANNEVIRKE SHOW FINE DISPLAY OF STOCK LIST OF CHAMPIONSHIP AWARDS “Dominion” Special. Dannevirke, February 10. The Dannevirke A. and P. Society’s seventeenth annual show opened to-day, in tine weather. It attracted a largo attendance, and proved a great success. There was was an excellent exhibition of slock of all classes, and experienced slock and sheep breeders are of opinion that to-day’s show represented one of the finest exhibitions of stock evei seen in tho Dominion. All classes were well represented, with the exception of Shorthorns. Aberdeen-Angus were in good display, and nine breeders were represented by many exceptional animals. Red Polls proved another favoured class and many fine animals were shown by a number of principal breeders. Jerseys again held their own as a popular dairy animal and tho usual high quality that is generally displayed at this show was well maintained in close on 100 entries. The dairy cattle classes brought forth some 50 entries, and hero again, the quality of the exhibits was very pronounced. The sheep pens contained many quality animals, from the flocks of wellknown breeders in the Wairarapa. Manawatu, Hawke’s Bay, and Taranaki districts. Romneys and Southdowns were the favoured breeds on exhibition, and there was a good selection of Lincolns. Pigs, however, were not ns well represented as was expected, but what mis lacked in quantity was made up in quality. The few breeders represented presented some really fine quality animals. Another pleasing feature of the show is the rapidly increasing number cf trade and commercial displays, which attracted much favourable comment from visitors. Tho entries showed a slight advance over lost year’s, tho principal increases being in the competitions, horses, cattle, pigs, dairy produce, and home industries. Sheep entries showed a slight decrease. Championships. The following championship awards were made. — Jersey Bull—H. Phillips’s Meadow Flag; reserve, R. L. Horn’s Jersey Meadow Birch. Junior champion: W. .B. Booth and Sons’ Free Owler of Pukctapu; reserve, R. L. Born’s Kuku Golden Down. Jersey cow: W. T. Williams’s Viola’s Queen Bess; reserve, R. L. Horn’s Kuku Sweet Pea. Junior champion: R. L. Horn’s Kuku AU Gold; reserve, Booth and Son’s Rcwa Alliance. Grade Dairy Cow—B. R. Benbow s Pride. Aberdeen Angus.—Bull: N. B. Gibbons’s Hustle of Koiro. Cow: J. Wollingham’s Gorskis of Glenelg. Red Poll.—Bull: B. W. Harveys Domiuion Panama; reserve, Central Development Farm’s Sylvanus. Junior champion: Central Development Farms Dominion Brussels. Cow: B. W. Harvey’s Star Ist; reserve, B. W. Harveys Dominion Calabash. Ayrshire.—Bull: AVebb Bros. Raitlibom Rex; reserve. C. B. Morgan’s Porirua Victory. Junior champion: L. J. Bowden’s entry. Cow: C. B. Morgan s Hereford. —Bull: W. B. White’s Moutery. Cow; J. S. Nelson 8 Rosalina 123 RD; reserve, J. S. Nelson’s Rosedale Mantanla. Friesian.—All championships were awarded to 0. A. Cadwallader. Milking Shorthorn.—Bull: R. V. Brown’s’ Matangi Glaxo 11th. Cow: R. V. Brown’s AVaimea Laurel. Sheep Champions—Romneys: Ram and ewe, J. E. Hewitt. Lincoln.—Ram: N. J. Cullinane; ewe, W. H. Gaisford. Cup Winners. Southdown Ram, and J. Knight’s cups nnd trophies: T. A. Duncan. Points cup for fat cattle: J. Bolbcn. New Zealand Milking Shorthorn Breeders’ cup for the most points: R. V. Brown (for the third time in succession, and is now won outright). Ayrshire Breeders’ District Challenge Cup: L. J. Bowden. Dannevirke Colpman Cup, for most points (open): Woodville. W_. Bowden’s medal for champion Ayrshire bull: Webb Bros. Osmond and Sons’ trophy, dairy heifer in milk: C. Jones (Woodville). Stubbs nnd Millar Cup for most points in Aberdeen Angus classes: D. Allen (Wellington). Rod Poll Brooders’ Challenge Cups (points prize): B. W. Harvey CWaverloy). Wright, Stephenson cup for host pen of five lambs: W. Morrison. Ellinghain cup for lambs over 421 b.: K. C. Stephens. Nelson cup for most points in fat sheep: D. J. Holden. Rowson cun for best pair of Jersey cows: W. T. Williams. J. Miller’s points cup for farmers’ sheen classes: D. J. Holben. Nelson’s (New Zealand), Ltd., cup for fat sheep: D. J. Holben. Dairy Produce Classes. Tho dairy produce classes produced keen competition from the factories in the surrounding district!, the quality and general appearance of tho butter and cheese being exceptionally good. The dairy factories’ special cup for rueport cheese and butter went to the Tiratu and Mauriceville West Dairy Factories respectively. Tiratu exhibited the, winning export cheese, medium coloured cheese, and three-loaf cheese, while Masterton won the. best export butter class, and Mauriceville West the best fresh factory butter. J. Armstrong s cup for the best crate of medium coloured cheese was also won by Tiratu. Other Classes. Entries in the pig section were limited to five exhibitors, D. Johnstone and .!>. O. Smith showing the principal winning classes. O. A. Cadwallader was the onlv exhibitor in the Friesian classes, and accordingly won all the prizes. J. S. Nelson was the chief exhibitor of Herofords and carried off most of the classes. Tn the milking Shorthorns section. R. V. Brown's entries captured the principal prizes. Ring Events. Tho ring events created considerable interest. Many large fields of fine animals were entered and the events were •keenly competed for. Results: —Best rider': Joan Matthews. Men’s driving competition: W. 11. Hobson. • Bareback rider: Leslie Breakwell, I;.G. H. James, 2 Pony jumping competition: AV. Lang, 1; G. H. James, 2; V. Heyward, 3. Turning competition, for men :E. Olsen, 1; A. D. Young. 2. Turning competition, for women: Miss Druce. Maiden hunters’ competition: W. B. Breakwell. 1; Mrs. L. K. Manson, 2; R. H. Farquharson, 3. Leaping match: F. Laird, 1; A. J. Ayres, M Paul 3. Best ladv rider: Miss Southey Baker, 1; Miss G. Twist, 2. Best b'ov rider: H. M. Blunden. Musical stalls in girls: Joan Matthews, 1; G. Breakwell. 2. Wire jump (hunting style) for ladies: Miss H. S. Rathbone, 1; Miss S. Symes, 2; Mrs. A. J. Rutherford, 3. Dog Exhibits. Interest, was shown in the dog section, an extensive variety of exhibits being on show. In manv cases the judges commented favourably on tho class and condition of the animals. The principal awards for working dogs related to t ie Dannevirke Kennel Club’s cun for the best rough-coated working collie, 'yhiyh was won bv‘ J. Smith, and the Trial Club’s cup for the best smooth-coated working collie, which went to Mrs. W. G. Shannon, who also won the gold bracelet. DAIRY PRODUCE MARKET Messrs. Dalgety and Co. have received tho following advice from London: Butter—Since our last report prices are 2s. per cwt. lower (present quotation, New Zealand salted, 1745.). Cheese.—Prices are Is. per cwt. l™y oT (nresont nuotation New Zealand white, 995.. coloured, 1031). Messrs. Joseph Nathan and Co.. Ltd , have received the following cablegram from their London house dated Fcbniary !):—New Zealand butter, 1745.; land white cheese, 985,, coloured, 1035.; both very quirt.

COMMERCIAL ITEMS WELLINGTON STOCK EXCHANGE YESTERDAY’S BUSINESS AND PRICES At tho afternoon call yesterday, sales were reported of Bank of Australasia shares at £l4 55., Commercial Batik rights at 9s. 3d., English, Scottish, nnd Australian at £7 155., and Wilson's Cement at 375. There was. again a good demand for the 4-} per cent. Government stocks and bonds, with bids at £96, and the*s per cent, at: £9B. New Zealand Breweries, 10 per cent, bonds were firm at 255. fid. Bank shares were steady. There were buyers of Bank of Australasia at £H 45., Commercial Bank rights at 95., Bank of New Zealand at £2 17s. 3d., a rise of 3d., P. and O. Banking Corporation at £9 2s. Gd., Union Bank at £l4 155., a rise of Is., and English, Scottish, and Australian Bank shares at £7 15s. Goldsbrough Mort and Co.'s shares were very firm at 475. 6d., and Wellington Trust and Loan shares were in demand at £6 4s. Wellington Gas shares, £lO paid, were steady at £l3 2s. fid. Insurance shares were quiet. National Insurance shares were in demand at £3 18s. Gd. Huddart-Parker ordinary shares were firm at 455. 9(1., and Union Steam preference at 19s. lOd. Wellington Woollen shares, both ordinary and preference, were wanted at £5 17s. Westport Coal shares at 345., were 3d. higher. There were bids of 325. for Kauri Timber, and 40s. for LeylandO’Dricn Timber. Brewery shares were steady with buyers of Mahning-.and Co., at 425. 3(1., and New Zealand Breweries at 58s. 9d. In the miscellaneous section there were buyers of Electrolytic Zinc preference at 375., Howard Smith at 355. 3d., New Zealand Drug shares at £3 75., New Zealand Paper Mills at 20s. 9d., and Wairarapa Farmers’ preference at

SALES IN OTHER CENTRES Bt Tblegrafh--Pause Association Dunedin, February 10. Sales- Now Zealand Refrigerating (cent.),' Bs. 2d.; Soldiers’ Bonds (1933), £99 15s. Sales reported: Mosgiel Woollen, £6; Kawarau, 7s. (three sales). Auckland, February 10. Salos: Auckland Gas (ord.), 225. 7d.; Auckland Gas (pref.). Bs. 5d.; Northern Steamship. 15s. Gd.; New Zealand Farmers’ Fertiliser. 935. Christchurch, February 10. Salos reported: Jlank of Australasia, £l4 6s. (three parcels); Bank of New Zealand, 575. 6d. (three parcels) ; Goldsbrough Mort, 4Ss.: Westport Coal, 345. 3d., 345. Gd (two parcels); Crown Brewery, 17s. Gd.; Black’s Gold Mining. 3s. (prem.), Kawarau, 7s. (three parcels). ' LONDON WOOL SALES The London wool sales closed on Tuesday with prices of all descriptions lower than the closing rates of the December series, but there is the consolation that the sales closed firm with a hardening tendency. Bradford and the Continent secured the bulk that was, sold, and America took 6000 bales, which is some- ' what more than is usually taken . by fhat country at the London sales. Prices realised at the sales just closed are very much lower than at the January, sale, 1925. Accepting Dalgety and Co. s figures as the basis for comparison, crossbred wools show the following drastic declines: — T Jan., 1925. Jan., 1926. d. d. d. d.

The prices realised at the London sales held in January-February 1924 were also higher than the realisations of the past two weeks. Low to medium crossbreds 46-48’s at the January, sale, 1924, made 181 d. as the middle price, while for the sale just closed the price was 14Jd.; 44-46’s made 17d. in January, 1924, and 131 d. in January. 1926; 40-44*8 two years ago made 151 d., this year 12? d.» and low to medium crossbreds 36-40’s, which sold last week at 121 d„ two years ago, were worth 141 d. Wool values are depressed because consumers lack purchasing power. N.Z. FOREIGN TRADE The distribution of our exports and imports in 1925 shows as under:— Exports. Imports.

ish Empire, for nearly 86 per. cent, of our exports and nearly ’77 per cent, of cur imports are within the Empire. Of the exports the United Kingdom took about 80 per cent., and of the imports more than half came from Britain. The balance of trade was against us in respect to the rest of the Empire, and particularly so from Canada. In respect to foreign countries, we exported to Belgium £194,575 worth of merchandise, and imported £305,856. To Germany we exported £1,614,090. and imported from that country goods to the value of £236,369. To France we sent £600.824, and received £308,904, to Italy £325,279 and obtained from there £224,539. Our trade with all foreign countries showed a balance against us. DECLINING EXPORTS The trade returns of New Zealand for the calender year, while interesting in themselves, do not disclose the true position. To obtain a correct perspective it is necessary to deal with the produce year, which extends from October 1 to September 30. The bulk of our primary products is exported in the months of December, January, and February, and by the end of September practically all the available exportable produce wilt have left the Dominion. The export figures for 1925, which show a total ot £55,262,272, cover nine months of the season 1924-25, and three months of the current season. If the figures are examined on the seasonal basis than there is some cause for concern. Taking the three months, October,' November, and December, 1925, which constitute the first quarter of the produce year, the returns of exports and imports give cause for serious thought. Comparing tho exports for each of the three months named, the figures are as under:— 1925. - 1924. October 1,958,691 2,927,098 November .... 4,498,839 2,716,956 December 4,613,488 5,911.449 ' 11,071,018 11,555,503 It will be noted that tho exports in November were very much larger than in November, 1924, and this was due to the strike of seamen holding up the overseas shipping. The November figures really include exports that belong to the previous season. The imports for each of the three months compare as under:— « 1925. 1924. <£ «>C October 4,745,369 4,082,671 November 4,834,480 3,>97,360 December ... 4,641,751 4,509,816 14,221,600 12,389,847 The imports were not affected by the strike, and show considerable regularity. The position disclosed by the figures may be set out as follow: — Exports, 1925 Exports, 1924 11,55a,503 Decrease Imports, 1925 14,221,600 Imports, 1924 12,389,547 Increase 1,831,753 Thus, while dur exports for the first quarter of the current season show a decrease of £484,485, the imports exhibit an increase of £1,831,753. Stated in another way, tho expess of imports over exports in the three months, Oc-tober-December, 1925, totalled £3,150,583, while in the corresponding three months of 1924 the excess was only £834,344. To maintain a safe balance of trade the imports must be reduced by many millions. THE WHEAT MARKETS. London, February 8. Wheat cargoes aro inactive at'3d. to Gd. per quarter lower, in sympathy with America. Parcels are in small inquiry at 6d. to fid. cheaper. Liverpool futures: March, 12s. OJd.; May, sellers, Ils. 9|d.; July, Ils. Bjd. (Rec. February 10, 5.5 p.m. New York, February 9. Chicago wheat futures: May, new, 1 dollar 71| cents per bushel, old 1 dollar 69? cents; July 1 dollar 52J cents; September 1 dollar 443 cents, CUSTOMS REVENUE. The Customs revenue collected yesterday at the port of Wellington totalled £5654.

1 Ycsterdav’e'buying and selling quotations were as under:— Buyers. Sellers. N.Z. GOVT. LOANS- £ 6. d. £ s . d. 41 p.c. Insc. Stock, 193S 96.0 0 — 4A p.c. do., 1938 96 0 0 5i p.c.. do., 1927-1941... —- 97 0 0 p.c. Bonds. 1941 — 96 2 6 4£ p.c. do., 1939’ 96 0 0 4J| p.c. do., 1938 96 0 0 4J p.c. do., 1930 96 10 0 5 p.c. P.O. Bonds, 1927 98 0 0 — D 'BENTUBESWellington Gas 102 0 0 Well. Bacing Club - - 108 0 0 N.Z. Breweries (Bonds) 1 5 9 —— BANKSAustralasia ». 14 4 0 » Com. of Aust, (rights) 0 9 0 N.S. Wales (cum.) —- 44 5 0 Now Zealand 2 17 3 — P. and O. Bank. Cor. 9 2 6 — Union of Australia .... 14 15 0 English. Scottish and Australian 7 15 9 *— FINANCIAL— Abraham and Williams (ord.) - — 4 6 0 Goldsbrough Mort 2 7 6 — N.Z. Guarantee Corp, (ord., 8s.)' — 0 9 5 N.Z. Invest., Mortgage and Deposits — 0 9 3 Well. Trust Loan ........ 6 4 0 GASWellington (ord.) 13 2 6 aaa* INSUEANCENational 3 18 6 3 19 6 New Zealand — —— 1 17 10 South British ........... •— 2 15 6 S’KA T PBESEEVING— Gear - — — 2 0 6 TRANSPORT— Huddart-Parker (ord.) 2 5 9 2 6 3 Union Steam (pref.)... 0 19 10 ——• WOOLLEN— Well. (ord. and pref.) 5 17 0 — COALWestport 1 14 0 1 14 9 riMBERKauri —~...41 12 0 Leyland-O’Brien 2 0 0 National - - • — 1 2 b BREWERIES Manning and Co., -— 2 2 3 2 2 9 Staples and Co. — 1 19 3 N.Z. Breweries 2 18 9 2 19 6 MTSCn-TT 0. M. Banks (pref.) .... —- 0 18 0 Electrolytic Zinc (pref.) 1 17 0 1 17 9 Farmers* Co-op. Auction. (oref. A.) „ i 0 18 0 — Howard Smith —. 1 15 3 1 16 3 N.Z. Drug 3 7 0 N.Z. Express (ord.) ... — 1 3 3 N.Z. Paper Mills 1 0 9 — Wairarapa Farmers* (pref.) 0 17 0 — WTNINGMt. Lyell —— I 6 Waihi -• — 1 4 0 Kawarau 0 6 9

Crossbred. 4-6-48’6 — to 254 to 23 154 to 17 134 to 15 Good to super ... Low to medium . 24 21 Crossbred 44-46’s — Good to super .. 23 to 244 14J to 1G Low to medium 20 to 22 13 to 14 Crossbred 40-44’s — Good to super .. .22 to 23 14 to 15 Low to medium 19 to 21 124 to 13 Crossbred 36-40’s — Good to super .. ' 22 to 23 134 to 144 Low to medium " 19 to 21 114 to 134

United Kingdom . South Africa Canada Australia _ Other British conn tries 41,073,717 19,306 423,068 2,502,113 578,818 £ 27,271,321 10.1,386 3,904,619 ’ 5,845,395 3,357,119 47,597,022 40,482,840 foreign— Europe 2.S08.058 1,756,193 1,431,707 Asia 252.831. Africa 6.016 41,896 United States ... 4,345,758 8,629,449 Other countries 252,587 114,322 7,665,250 11,973,567 Totals 55,262,272 52,456,407 Th© bulk of our track xp with the Brit>