FARM & COMMERCIAL

Dominion, Volume 19, Issue 119, 13 February 1926, Page 12

FARM & COMMERCIAL

NEWS AND NOTES

AUCTION SALES TO-DAY. Seddon Street, Lower Hutt, 2 p.m.—Salo of furniture (fl. E. Leighton). 151 Willis Street, 1.30 p.m.—Sale of furniture (Vino. and Co.). MONDAY. Alfredton, noon.—Ewe fair. I’ahautanui, 1 p.m.—Ewe fair. It Braudon Street, 2.30 p.m.—Salo of farm properly (IT. E. Leighton). K Shed, Waterloo Quay, Wellington, 1.30 p.m.—Sale of motor-cars (E. Johnston and Co.). 98 Manners Street, Wellington, 2 p.m.— Salo of household furniture (Ramsey Wilson and Co.). TUESDAY. Rangitikei Street, Palmerston North. It 30 a.m.— Sale of farm property (N.Z. Loan and Mercantile Agency Co.). Feiiding—Dispersal sale on account of D. H. McLean, (Murray, Roberts and Levin and Co.). 8 Willeston Street, Wellington, 1.36 p.m. —Salo of show nases (E. Johnston and Co.). „ 98 Manners Street, Wellington. I.JO p.m.—Salo of basins (Ramsey M ilson util Co.). FARMING INTERESTS FROZEN MEAT MARKET Messrs. Dalgety and Co., Ltd., report having received the following cablegram under date February 11 from their London house: — Lamb—New Zealand prune crossbred lamb: Canterbury, heavy not quoted; light Did.; North Island, heavy not quoted, light 9d. Market is weaker. Less demand. Alutton. —New Zealand prune crossbird mutton, Canterbury heavy not quoted, light not quoted; x \orth Islam! heavy 51d.. light Gid. Market is weaker. Poor demand. Beef—New Zealand prime ox heel hinds 4J<l.. fores 3RI. Market stagnant." No demand. Australian Frozen Meat.—Good average qua'ity crossbred lamb, Australian heavy 7]d., light BJd.; good average quailtv crossbred mutton, heavy 41<1., light I’d Lamb, market weak and declining.' Further decline expected. Mutton, market decidedly weaker. Less inquiry. p nr k.—Prices unchanged. Market rather dull.

SALE OF SOUTHDOWNS THE WESTMERE DISPERSAL NEW ZEALAND RECORD PRICES The most successful sale of Southdown sheep ever held in the Dominion was the verdict of veteran brooders in attendance at the dispersal sale of Mr. Jobu Donald’s " Westmere” stud of Southdowns, conducted at his homestead, near Wanganui, by /Messrs. Wright, Stephenson and Co.. Ltd., on February 9. Ihe sale had become necessary owing to Mr. Donald’s recent decision to extend his stud of thoroughbred horses. It attracted a very large attendance, thoroughly representative of all parts of the Dominion, ami the sale right through provoked particularly keen and spirited bidding. Four imported rams, one bred by Ills Majesty the King, had been used in the flock, ami in addition Mr. Donald imported some two years ago direct from His /Majesty’s flock at Sandringham live particularly fine owes. Hie imported shop ami their progeny proved a great attraction at the sale. Ihe imported sheep and their progeny proved distributed through tho flock, and that it had left its mark was clearly demon strafed in the prices pant for all the sheep of Mr. Donald’s own breeding, the first pen of sheep offered was the imported ewes, bred by the King. Although three and a had years old, b Ridin" for the quintet was exceptionally keen, and ultimately at the-New Zealand record price for a pen of any breed of ewes—2o6 guineas—-Mr. W. H. I'reJd, M I’., became the purchaser. Record prices for New Zealand bred Southdowns wore also paid both for oneshear rams and ewes, and ft. further record was established by the high averago paid for the entire flock of 200 sheep—£l3 4s. per head. the Wairarapa contingent of buyers proved to be a particularly powerful force. The average prices paid were as follow:—38 slud rams, 241gns.; 31 ram lambs, 12gns.; 37 one-shear ewes, 12gns.; R 4 mixed aged ewes, lOgns.; 30 ewe lambs, sgr.s. „ For the one-shear ewes the New Zealand record price paid was 35 guineas, by Mr. D. Tl. Goodrick. Gtnne Hawke’s Bay. This owe, which was bred bv Mr. Donald, was sired by the Earl of Derby ram and was out of one' of the imported ewes. Thirty guineas was also paid for one of the older ewes bred bv Mr R McDonald. Dannevirke, which was taken bv Mr. Harry Falloon, Masterton. Messrs. G. R. and 11. Hutchinson. Auckland, secured two excellent one-shear ewes at 21gns a piece, one being out of an imported ewe by the Duke of Richmond ram, and the other bv the Brock'e.bank ram. Mr. IT. L. Bost. Shannon, paid 20 guineas for a owe bv the Earl of Derby ram. Bidding on the imported throe-shear ram, Tlart’ow H 56. bred by Rev. 0.. H. Brocklebnnk. commenced at 56 guineas, and Messrs. G. R. and H. Hutchison became (bo purchasers nt 90 guineas. A magnificent one-shear ram bred by Mr. Donald made the record price of 150 guineas, after a spirited Ihree-eor-ner Juel, tho purchaser being Mr. Robert Bremer Wavevlev. This ram was sired by the Brocklebnnk ram and was out of one of the King’s owes. These five owes (which wore imnorted from Ill's Majcstv’s flock fo- Mr. Donald by Messrs. W right. Ptcnhonson and Co., I.tri.), together with their nine progeny, including the five lambs, realised flm great tofnl of fi’O guineas. Tn view of the fact that Mr Donald vnrdod the sheep in natural condition, not ba’-ing resorted to trimming or hand-feeding tho sale wns quite a remarkable one. All the arrangements wore in excellent order.

Purchas?s were made ns follow: — iTne-shear Ewes.

Buyers of one-shear ewes were as follow:—J. O. Sutherland. ’Wairarapa, 11 at 12gns., 12 at lOgns.; W. R. Goodrick, Otane, Hawke’s Bay, one at 35gns.; T. Lupton, Waverley, one at 16gns.; G. R. and H. Hutchison, Auckland, two at 21gns.; D. Sutherland, Fordell, otic at 17gns.; L. H. Best, Shannon. ■ one at ISgns., one at 26gns.; J. O. Sutherland, one at 18gns.; S. J. Blake. Dargaville, one at 18gns., one at 16 gns. Older Ewes.

W. IT. Field, Otaki, foiu- at -tdgns.; D. Sutherland, oue at lOgns.; M. L. Harris, Turakina, one at 6gns.. five at 3gns.; G. IL and H. Hutchison, one at 16gns., one at 17gns.; S. J. Blake, one at 6gns.; D. J. Cooper, Woodhill, Auckland, one at IGgns.; L. R. Best, one at Bgns„ four at llgns.; Lloyd. Hammond, Rata, ono at. 5 gns. fivo at Ggns., five al. 71-gns.; T. Lupton, ono at 12gns.; H. Falloon, Masterton, one at 16gns., one at UOgns.; J R. Tavlor, Manutahi, five at Ggns.; George Handley. Rapanui, five at 31 gns.; K. Stevens, five at 71gns., four at (ijons.; Donald Bros., Havelock North, five at 3gns.; W. E. Weightman, Fe'ilding, five at 31gns. Stud Rams. G. R. and H. Hutchison, one at 9j) gns.; C. J. Haw ken, Mokoia, one at 13 gns., ono at 20gns.; T. J. Williams, Hastings, ono at 13gns.; S. J. Blake, one at IGgns.; A. Alexander, New Plymouth, ono at lOgns., five, at IlJgns.; A. H. Richardson, Brunswick, one at 171gns.; Blair and Hunter, Waftiganui, one at 17 gns.; J. Rice, Danncvirke, ono at 18 gns.; H. Falloon, one at 22gns.; Campbell Bros., Manutahi, one at 16.1gn5.; D. Ross, Kai Iwi, one at 36gns., one at 33 gns.; R. Bremer, Waverley, one at 150 gns.; George Handley, Rapanui, ono at 22gns.; D. J. Cooper, one at 70gns.; J. ()°Sutherland, one at 46gns.; 11. Collier, Wanganui, one at 14gns.; A. P. O’Neill, Kakatahi. ono at 154gns.; J. R. Taylor, one at 47gns.; C. S. Billinghurst, Brunswick, one at 27gns.; Campbell Bros., six at 19gns. Ram Lambs. G. R. and H. Hutchison, one at 10 gns.; C. J. llawken, ono at 34gns., one at "gns., one at 16gns. ono at Sfigns., six at Bgns. five at 3gns.; G. McGregor, Waitotara, one at 20gns.; R. Cooper, Masterton, ono at 37gns.; K. Stevens, Marton, one at Sfigns.; M. L. Harris, ono at llgns.; L. Hammond, live at Olgns.; T. Lupton, five at Signs. Ewe Lambs. C. J. ITawken, one at 15gns., one at lagns.; J. R. Taylor, oue at 13gns.; G. Handlev, fivo at 3-lgns.; John Lupton, 10 at 31gns.; G. K. and IT. Hutchison, fivo nt 4gns., fivo at 7gns. STOCK SALES’ Messrs. Dalgety and Co., Ltd.. Palmerston North, report having held their annual Mangaweka ewe fair on February 11, when their portion of the yarding comprised some 5000 odd ewes. A ninnbor of Ihe sheep showed the effects of the bad spring, and consequently did not come forward in quite such saleable condition ns usual. The sale taken on the whole must be considered satisfactory, although it was only on rare occasions that bidding was particularly keen. With the exception of two small pons, the whole of the yarding change:) hands. Quotations: Account J. A. Glenn, 312 5-yr ewes, 2 Is. Kid.; account J. H. Dalrymple, 116 4-th to 4-yr ewes. 265. 9d.; account F. 11. Gorringc, 310 2-th owes. 275. 2d. to 285.; account R. McNeill, 119 4 and 5-yr ewes, 245. 7d. • account D. Thompson. 76 2 th evses, 27s I<L; account C. F. Dalgety. 270 5-yr owes. 21s. 2d. ; account W. Davidson. 107 5-yr owes. 21s. 2d.; account A. Raynor. 227 4 nnd 5-yr owes. 225. 7d. In conjunction with tbinham nnd Williams. Ltd., and the Now Zealand Farmers’ Co-oporativ' l Distributing Co., Ltd. Account A. E. Russell Estate. 500 5-vr ewes. 275.; 460 5-yr owes, 255.; 360 4-th maiden ewes :ios. 6d. Various nuotations; —M.A. owes. 135.. 11s.. 15s. 3d-. I R s.. to 175.: mill owes. Bs. to small °-th owes. 10s. 3d.. 17s. 7d.. 205.. to ?2s. 9d.: 4 and 5-vr ewes. 18s., 19s. 7d., 19s. 3d., 19s. Bd., 20b. to 233.

THE WOOL MARKET

SALE AT CHRISTCHURCH BRADFORD TAKES BULK OF OFFERING By TEbbGßArrr.—PiiEss Association. Christchurch, February 12. Tho Christchurch wool sale was concluded to-day.. The standard of prices set tho previous evening was maintained. Most classes of wools showed an appreciation on the Tiuiaru rates of the preceding week merinos and shabby wools being tho exception. There was no change in these classes. Medium quality crossbreds and halfbieds io* corded better values by up to a penny, ami super halfbreds by about a halfpenny. AU classes of merinos, however, "were practically unaltered on the Tiinaru rates aud were from a penny to well on to twopence lower than the Christchurch January rates. No wool offercxl yesterday sold at the figures recorded here five weeks ago, and apart from merinos the easing on that market averaged about a penny per lb. Vendors however, met the market, and only 1700 odd bales, or about 8 P er cent - of t ' lo offering, was Po The' activity displayed by Bradford buyers on the opening night was maintained and the bulk of tho wool went into the hands of that centre’s representatives. with the Continent securing a good share of the small proportion of crossbred in tho catalogue and also the better pieces. Tho range of prices is as follows:—

LONDON HIDE SALES London, February 11. At tho hides sales there was practically no demand for any sorts. Quotations are nominally unchanged.—tAus.N.Z. Cable Assn. DAIRY PRODUCE BUTTER SLOW, CHEESE QUIET. London, February 11. Butter, very slow; buyers scarce. New Zealand ' choicest salted and unsalted, 1745. to 1765. cwt.; Australian, ditto, IGGs. to l(18s.; Danish, 1925. Cheese quiet. New Zealand, white 98s. to ICtls., coloured 1625. to 1645.; Australian, white 985., coloured 100 s. to 101 s. —Aus.-N.Z. Cable Assn. Messrs. Dalgety and Co., Ltd., report having received the following cablegram from their London house under date February 11: — Butter.—Market plow. We' quote New Zealand finest salted, 1745. (1765.); Danish, 1925. (1925.); Australian, finest salted 1665. (1695.). unsalted 1765. (1735.). Cheese. —Market slow. Quotations: New Zealand, white 995. (1605.), coloured 103 s. (104 s. Canadian. 108 s. spot. Messrs. Joseph Nathan and Company, Limited, have received the following cablegram from their London house, dated February 11:—New Zealand butter, 1725., 1725. SOUTHERN MARKETS DUEL BUSINESS. Bt Tblegkaph—l’hess Association Christchurch, February 12. Business for this time of the year has never oeeu so slack, according to merchants, who declare that tnere is no sign of its improving. They attribute the state of affairs to tho fact that the reduced prices for meat and wool resulted in a feeling that care must be exercised, in consequence of which farmers in the North island-are buying on the hand-to-mouth system. In previous years it has been customary for business with the North Island to begin on a largo scale during January, but this year is an exception. Potatoes, which were selling well at the beginning of the week, slackened off, but within the last few days business in them as livened up again. Forward business with Australia has been fairly brisk. But no orders will bo shipped there for anotner two months at least, as before they are sent away they must be firm and hard. Discussing the prospects of bush fires in Australia leading to increased business, a merchant stated to-day that the prevalence of the fires would seem to indicate that tho whole countiy was dry, and if this were the case no doubt potato crops would be affected. He thought that even if rain were to fall now the crjps would still be unsatisfactory. . , . , ... Regarding local potatoes, the position is that there has been enough rain for them, apd a spell of prolonged sunshine would be welcomed by growers. Last ni"ht the temperature was low, and at Taitapu was within a few degrees of a frost. One or two parcels have been sold at £6 15s. f.0.b., which is about equal to £5 ss. to Tarniers on trucks. Cocksfoot is being offered freely. Most of last year's eeod held by farmers, the qimlitv of which is not too good, is quoted at from 7<l. to Bd., while for the new season’s seed the price is 9d. Oats are firm if recent rates. Partridge neas are a little easier, owing to tho Uonm demand slackening un. Cowgrass has firmed up lately owing to poor prospects for the new season. Ono or two nnreols •'f wheat have changed hands at Rs. 9(1., but. generally speaking. very little business is being done in fir's line. Growers being inclined to wait- f nr D,e nrnmi'ed statement from tho Primo Minister an tho question. BRADFORD TOPS MARKET London. February 11. Bradford market is slightly stendici, but business is extremely quiet; 40‘s, 43d.: 33’S. 26(1.; 22’s, 21/1— Aus.-N.Z /'able Assn. ■

COMMERCIAL ITEMS

WELLINGTON STOCK EXCHANGE

YESTERDAY’S BUSINESS AND PRICES There were no transactions recorded at either the morning or afternoon calls yesterday. Tho per cent. Government stocks and bonds were steady at £96, and the 5 per cents, at £9B. Neiv Zealand Breweries, 10 per cent, bonds were firmer at 265. Bank shares were steady with buyers of Bauk of Australasia at £l4 45., Commercial Bank rights at 9s. 3d., P. and O. Banking Corporation at £9 2s. 6d., Union Bank shares at £ll 165., a rise of ls„ and Bank of Victoria shares at £8 Is. There were sellers of Dalgety and Co.’s shares at £l6 165., and Abraham and Williams, ordinary at £4 6s. Guldsbrough Mort aud Co.’s shares were firm at 475. I'd. Gas shares were steady with buyers of Auckland Gas share's at 225. 3d.. Christchurch Gas at £7 Ils., and Wellington Gas, £l6 paid, at £l3 35., a rise of 6d. Insurance shares were in fair demand. National Insurance shares wore wanted at 78s. 6d., and South British Insurance shares at Sts. 6d. New Zealand Refrigerating shares, 16s. paid, were steady at Bs. There were buyers of Huddart-Parker ordinary shares at 455. 6d., Westport Coal at 345., and Leyland-O’Brien Timber at 40s. 3d. In the miscellaneous section there were buyers of Electrolytic Zinc preference_at 375., New Zealand Drug shares at 675., New Zealand Paper Mills at 20s. 9d., Wairarapa Farmers’ preference at 175., and Wilson’s Cement at 375. 3d., a rise of 3d. Yesterday’s buying and selling quotations were as under: — Buyers. Sellers.

SALES IN OTHER CENTRES Hv Tei.bgiiapi’ '' Dunedin, February 12. Sale: New Zealand Breweries (debentures), 265. Sales reported: New Zealand Drug. Css.; Mosgiel Woollen, £t>; New Zealand Paper Mills, 215.; Kawarau, 7s. Auckland, February 12. Sales: Soldiers’ Inscribed (1933), £99 155.; Bank of New Zealand, 575. Gd.; South British Insurance, 555.; Northern Steam, 15s. Gd.; Kawarau, 7S. Id. (two sales). ~ , Christchurch, February 12. Sales reported: New Zealand Breweries (10 per cent, inscribed), 255. 10d.; Western Australian Bank, 555.; New Zealand Insurance, 375. Gd.; Westport Coal, 345. Gd.; Electrolytic Zinc (pref., cum. div.), 375. Gd. Sales: Gisborne Sbcepfarniers (74 per cent.), 1931, £100; Manning Brewery, 425. 3d. (two parcels). CHICAGO WHEAT FUTURES. New York, February 11. Chicago wheat futures: May, new 1 dollar 69| cents.; old, 1 dollar 67J cents. July, 1 dollar 50j cents; September, 1 dollar 431 cents. EXCHANGE KATES. London, February 11. Foreign rates of exchange on February 11, as compared with par rates or as averaged first half of 1914, are as follow:— Feb. H. Feb. 4. Par.

PRICES OF METALS. (Rcc. X*’ebruary 12, 10.10 p.m.) London, February 11. Copper.—On spot, £66 3s. 9d. per ton; forward delivery, £6l 3s. 9(1. Lead—£33 16s. and £33 13s. 9d. Spelter—£3s 15s. and £3l- 15s. Tin—£2B7 12s. 6d. and £2Bl 2s. 6<l. Silver—Standard, 32Jd. per oz.; fine, 33 5-l Gd. LEAD MARKET. London, February 11. Lead: Imports 26,898 tons, Australian 9576; exports, 2355. AUSTRALIAN PRODUCE. Melbourne, February 12. Wheat, Gs. IJd. per bushel; oats, 45.,

Merino— Super d. ,.. 18 to d. Medinin .. 16 to 171 Inferior .. 121 to 15}Corriedale — Super to 19} Medium ... 15 to 17 Inferior ... Ol to Fine Halfbred— Super ... 17{ to 20 Medium • ... 15 to 17 Inferior ... 11} to 14} Medium Hall bred — Super ... 16 to 18 Medium ... 144 to 15} Inferior .. Ill to 14 Coarse Half bred— Super ... T5 to 16$ Medium ... 131 to 143 Inferior to 12} Tliree-ouarterbred — Extra super to 17} Super ... 121 to 14 Medium ... 10} to 12 Inferior ... OJ to 10} Medium Crossbred— Super ... ill to 12} Medinin ... 9? to 11} 9} Inferior .. 81 to Coarse Crossbred— Suner 12 Medium .. ill to Inferior ... 8 to Pieces — Merino ... 9V to 16.4 Halfbred, firsts Halfbred. seconds ... ... 11 to 15} ... 8 to 104 Crossbred .. 5} to 9} Locks ... 4 to 0} Bellies — Good .. 9 to 12 Low to medium ... 61 to B} Crutehings— Good ... 68 to 91 Low to medium .... .. 4} to 6}

N.Z. GOVT. LOAN’S— £ s. d. £ s. d. 4* p.c. In sc. Stk., 3938 9G 0 0 — 4A p.c. Bonds. 1941 .. —- 96 0 4} p.c. ditto. 1938 .... 96 0 0 ——* 5 p.c. P.O. Insc. Stk., 1929 —— 98 0 0 5 p.c. P.O. Bonds, 1927 98 0 0 DEBENTURES— Wellington Gas — 102 0 0 N.Z. Breweries (bonds) 1 6 0 — BANKS— Australasia 14 4 0 — Commercial of Aust. (rights) 0 9 3 —— N.S. Wales (cum.) .. — 44 5 0 New Zealand 2 17 9 P. & 0. Banking Corp. 9 *> 6 ——- Union of Aust 14 16 0 •— Victoria (ord.) 8 1 0 —- FINANCIAL— Abraham and Williams (ord.) — 4 6 0 Dalgety and Co — 16 10 0 Goldsbrough Mort .. 2 7 6 *—■ N.Z. Guarantee Corp. (ord.) 0 8 9 0 9 0 N.Z. Invest., Mortg., & Deposit — 0 9 3 GAS— Auckland 1 o 3 Christchurch 7 11 0 *— Wellington (ord.) ... 13 3 0 — INSURANCE— National 3 18 6 3 19 G South British 2 14 6 MEAT PRESERVING— N.Z. Refrigerat. (10s.) 0 S 0 Gear -. 2 0 TRANSPORT— Huddart-Parlccr (ord.) 2 5 6 WOOLLEN— Wellington (ord.) .. 6 0 0 COAL— Westport 1 14 0 1 14 C TIMBER— Loyland-O’Bxien •• 2 0 3 BREWERIES— Manning and Co. ... — 3 0 Staples and Co — i iy 0 MISCELLANEOUS— Electrolytic Zinc (pref.) 1 Farmers’ Co-op. Auct. 17 0 1 17 9 (pref. A) C 18 2 N.Z. Drug 3 7 0 — N.Z. Express (ord.) .. —— 1 o 8 5..Z. Paper Mills .... 1 0 9 Wairarapa Farmers’ (pref.) 0 ■Wellington Cordage .. 17 0 — —— 0 IS o ■Wilson'S Cement .... 1 17 3 MINING— Mt. Lyell —— 1 6 6 Waihi —— i 4 0 Kawarau 0 G 9 —

New York, dols. to £1 4.86} 4.86} 4.866 Montreal, dols. to 4.8724.866 £1 4.87} Paris, francs to 129.56 131.43 25.22 i Brussels, francs to £1 107.00 106.95 25.22$ Amsterdam, florins 12.107 to £ 1 12.14 12.12$ Stockholm, knr. to 18.17 18.12 £1 18.16 Oslo, knr. to £1 23.91 23.89 18.12 Copenhagen, knr. f 19.70 18.12 to £1 19.37 Berlin, Heidismark to £1 .. 20.43 20.43 — Rome, lire to £1 120.50 120.87 25.22 J Yokohama, pence 24.48 to yen 22} 22 3-16 Calcutfa, pence to rupee IS 3-16 18 3-16 24 •Hong-Kong. pence 28} 2SJ 24 to dol Batavia, florins to 12.08 £1 12.06 —