FARM & COMMERCIAL

Dominion, Volume 19, Issue 155, 27 March 1926, Page 12

FARM & COMMERCIAL

NEWS AND NOTES

AUCTION SALES TO-DAY. Eastward Ho, Lower Hutt, 2.30 p.m.— Sale of two-story house, "Eastward flo" (H. E. Leighton.) uower Hutt, 1 p.ui.—S.ile of Marsden Street section; 1.30 p.in., Ludlam Crescent section;, 4.15 p.m., sale of residence, 88 Pretori i Street (11. E. Leighton.) iVoburn Hoad, Lower Hutt, 2.15 p.m.— Sale of furniture (H. E. Leighton). Faulkner Street. Napier, 2 p.m.—Sale of contiMo'cor’s plant, etc. (MoGlaslmn’s. Ltd.). >2 l.craud Street, Wellington, 1 p.m — Sale of furniture (Ramsey Wilson). TUESDAY. Brandon Street. Wellington, 2 p.m.— Sale of forfeited Gloaming Claims, Ltd., shares (J. H. Bethune .and Co., Ltd.). Addington Showgrounds, ChristchurchSale of , tud Corriedale sheep, account G. Andrews, C. Wright, Stephenson and Pyne, Gould and Guineas. Farm Golf Links, Duffa Street, Welling ton. 1 p.m—Sale of dairy stock, implements. etc. (.Abraham and Williams and Wright, Stephenson). Bainesse, noon. —Sale of cattle, account F. R. Waller (N.Z. Loan and Mercantile Agency). f FARMING INTERESTS FEILDING STOCK SALE LAMBS SELL WELL. By Telegraph. -Press Association Pending, March 26. Eight thousand sheep came forward for the Feilding stock sale. The aminala were of fair to medium quality. The sale opened with a dull tone, but improved up to late rates as the sale urogressed Lambs with any condition and breeding were keenly competed for and also good ewes. Fat lambs, 19d. 4d. to 215.; wethers, 28s. 6d.; ‘ewes, 13s. 6d. to 18s. Stores.—Four and six-tooth ewes. 215.; four and five-year ewes 13s. 9d. to 18s. lOd. • w.f. wether lambs. 10s. 4(1. to 16s. 9(1.; ewe lambs. 9s. to Ms. °d.; twotooth ewes. IBs.: M.S. lambs, 12s. 3d. to 155.: email lambs, 7s. ,9d. to Bs. 7d.‘* F.F ewes 9s 4d. to 14s. Id.; two, four-tooth wethers. 18s. 9d.; b.f. lambi Ils. to 145.: store ewes, Bs.; two-tcoth wethers 225, There was a good yarding of all classes of cattle, which met with fair competition. Compared with late sales fat cattle of good quality sold well. Medium quality beef sold at late rates. Dairy Cows.—Spring calvers, Sss. to £4 10s.* jersey cross heifers r.w.b., £2 15s. to £3 Is.; good fat heifens. £6 25.; medium fat cows. £5 Is.* to £5 65.; Ujb* fat cows, £3 12s 6d. to £4 35.; good fat 8.” bullocks £9; P.A. bullocks £9 155.: F.F.. SB. heifers, good, £3 25.: fair condition heifers. £7 4s. 6d. to £8 2s 6d.: forward 2J to 34-year Hereford steers. £5 75.: emnty 18-months Hereford heifers. £2; 18months Hereford steers. £3 75.; 24-ynar medium Hereford heifers £2 15s. 6d.; small P.A weaner steers. £1 14s. 6d.: small 18-months steers. £2. ss. 6d.

LONDON WOOL SALES BROKERS’ ADVICES Messrs. Murray, Roberts and Co., Ltd., are in receipt of the tollowing woe* market cablegram from their London agents, dated March 25:—’ Sales have closed firm: competition not qpite so keen as last wee.* Compared with present London sales opening rates: Greasy Menno, best descriptions, advanced 5 per cent.; good, par to 5 per cent, advance; average descriptions, market shows no material change; good broken -icces, par to □ per cent, advance. Scoured Merino, best, advanced 5 per cent.; other descriptions, market irregular and shows no change. Crossbred greasy comeback advanced 5 per cent. Crossbred greasy fine advanced 5 to 7J per cent.-, medium, market shows no change; coarse, market firm; crossbred greasy, well-grown and sound advanced 5 per cent.; crossbred scoured and crossbred slipe, par to 5 per cent, advance. Quotation: 60-64’s (New Zealand Merino), yielding. 48 per cent, (close of March series, 22(1.); 56’s, yielding, ner cent. (22d); 50’s, yielding. 65 per cent. (17Ad.); 44-46’s, preparing yielding /4 per cent. (15d.); 40-44’s, carding yielding. 7. per cent. (14d.) : 40-44’s. yielding, 73 per cent. (13 3-4 d.): 36-40’s.. yielding, 75 per cent. (13d.). , x ._ The New Zealand Loan and Mercantile Agency Company. Ltd., have received the following cablegram from their London house, under date March 25: —Wool sales: The sales closed firmly to-day. Competition by Home trade and Continent active. America buying suitable lots of crossbred. As compared with last sales closing rates prices arc higher about par to 5 per cent, for greasv Merino inferior, lambs Merino, scoured Merino super, scoured Merino medium. Prices are higher about 5 per cent, for: Crossbred lambs, greasy Merino super, greasy Merino medium, fine greasy crossbred. Prices are lower about 5 per cent, for crossbred slipe. Others are unchanged. The prices realised for average to super grades of descriptions as below were as follow’: Merino super 24d. to 26*d.; average. 18d. to 22d. • crossbred 56-58’s 19(1. to 2s2Ad.; 50-56’s, 17d. to 2Cd.; 48-50’s. 16d*. to 18d.; 46-48’s, 14(1. to 16d.; 44-46’s. 131(1 to 15d.; 40-44’s. 13d. to 14£d.; 36-40’s. 13d. to 14d. t , Messrs. Levin and Comuanv. Ltd. received the following cablegram from their London agents, dated March 25:— “The auctions closed here to-day with " enod tone. As compared with the onen ing rates of this series, we quote:-Q-z.asv Merino, best, no change: averano change. Fine halfbreds, 50-56’s, Jd. per lb. dearer. Hnlfbreds 48-50’s. Id. lb. dearer. Crossbreds. ' no change Scoured crossbreds no change. Scotired Merinos. Id. tn 2d. r»er lb. dearer, inline*' irregular, particularly ‘halfbred lamhg. Messrs. Dalgety and Company. Ltd. renort having received th° following cablegram from their London house, under, — cqjes c 7 np'' / ’ firm with strong competition. Ag compared with last sales, closing rates: Greasy Merinos, good to super Id. to Ud higher; scoured Merinos. rncha.nged ■ greasy comebacks, greasy halfbreds and Teasy fine crossbreds. Id tn h’ rrV,< "’ •reasv lambs par to Id. higher; greasy medium and coarse crossbreds, nar t*id. lower, with the exception of nnl+nljij n ,*, rl I a Po’'*f’n' :,n ‘

which are Id. to IJd. higher; greasy ordinary Merinos, par to id higher «?oured crossbreds, a change in pric« ■'•'v. is in sellers’ favour. Fine slinr" ’’d. to lower* F’cdium «nd marsn c-I(r»es. Id. tn 11,1I 1,1 Tn-v-er b? 1 " r offered, including 47,C00 New Zealand, 35C0 Cape, 2?.5 f H« Potith American. Sold 98.S 0 ” '’nloniaJ 20.('('■'* South American and sun dry wools. The Continent bought 66.CCP Home trade 48,000, America. 49 r ' n w’er? cp.rr'cd forward of which ’ ,l COO were not offered. The following i“ z.- -.*««<. ._ n-ood ♦' super. 22d to 26*d.: low to medium 18C to 21d. Half bred. 56-58’s, good to super 21d. to 24Ad.; low to medium. 18d. tn 20d. Halfbrpd. 50-56’s. rood to super, 19 J d to 22£d.; low to medium, 16£d. to 19d Fine crossbred, good to super. 16*d. to 19*d.; 48-59’s, low to/medium. 14d. to 16d. Fine crossbred, good to super, 15Ad tn 174 d.; 46-48’s low’ to medium to 15d. Crossbred, 44-46’s gnod to super, to 15d.* low to medium 12Jd. to 14d. Crossbred, 40-44’s, good to super, 14d. to 15£d.: low’ to medium, 12d. to Coarse crossbred, good to super 13id. to 15d.: 36-40’s, low to medium, lift to 13d. The Bank of New Zealand, produce department, has received th a following advice from its London office under date March 25:—The market is closing rather nuiet. Current ouotat’ons: Crossbred fine. I.6sd, to 18d. per lb.: medium. 14d to 14-Jd.r coarse. 13d. to 13Jd. Halfbreds. 19d. to 21d. Marines, super 24d. to 26d.; ordinary, 21d. to Z2d. ; inferior 18d. to 19d. LONDON HIDE AND SKIN SALES London, March 25. At the hides sales quotations were nominally unchanged. At the sheepskins sales, with moderate selection, there was fair general competition. Merinos and fine crossbieds, par to 5 per cent, above February rates; medium crossbreds unchanged; lambs, 5 per cent above. ■ HIDE AND SKIN SALES Messrs. Abraham and Williams. Ltd,, report on their Palmerston North wool, skin, hide and tallow sale as follows:— We held our monthly sale on Thursday, when we submitted a good catalogue of all classes to a fair ’ attendance of buyers, Competition was good and we have to report a good sale. Wool sold on a par with late rates. Sheep skins also sold well, with the exception of inferior sorts, which were slightly easier. Hides were on a par with last sale and met with keen competition. Tallow’ on a par with last sale. The following ‘rives a range of 1 prices realised:— Wool. - Southdown, l3Jd.; crossbred medium. HJd. to 12d.; coarse, IOJd. tn Uld.; lambs, 12d. to 13d.; bellies and pieces, sld. to dead. 7id. to BJd.: locks, did. Sheep Skins.—Crossbred, ‘ fine, 12Jd.; coarse. ICd. to 10}d.; lambs. lld. : short wools 9Jd to 10d.; crossbred inferior, Bd. to WL; dead. 75d.. to BRL; pelts. BJd. to 9jd.; crossbred, salted, ss. 6d. to 7s. fid. each; pelts, 3s. to 3s. 9d. ; each: lambs, 4s. to ss. 9d. each. Hides.—Ox, medium, 9d.; light, 6§d. to 3d.; cow, heavy, 6Jd.*. medium, sgd. to 6d.; light, sd. to sgd.; cut and inferior, 4d to 63d.; yearlings and kip. 6d. to Bid. Calf Skins.—Best lines. .131 d. good, 123 d. to 13d.; stained. lOd. to IZJd.; cut and inferior, 75d. to Bld. Tallow—ln tins, £26 10s. per ton; in casks to £29 per ton. Horsehair.—2lfd. per lb. STOCK SALES Messrs. Dalgetv and Company. Ltd., report as follows;—At the autumn cattle fair, which was held on Thursday, a very full yarding of cattle was submitted to a large attendance, outside buyers being present from Taranaki. Wanganui, and Manawatu districts, Our entry, which comprised 813 head of wellbred cattle, came forward in good condition despite the drought conditions which have prevailed during the season, and we were successful in disposing of 758 head of our total yarding. Prices realised were undoubtedly drought prices, still, with the conditions prevailing, it is satisfactory to be able to report such a clearance. Following are the quotations: Account J. P. Perry, 28. extra good 21-year P.A. steer, £6; 3i-vear steers, £7 17s. fid.* fat heifers, £6 15s. Account Blairlogie Station. 83 2*-year P.A. steers at £5. Account Mrs. M. J. Lees. 22 P.A. bullocks, £7 4b. Account J. H Cameron, forward bullocks, £7 to £6 Is. Account Weraiti Estate, 61 li-ye.ar steers, £2 145.; 2*-voar steers £3 7s. 6d. Other prices w'ere: Fat cows, £5 55.; forward coWs, £3 Is. to £4; store cows. .£2 55.; vealers, £1 17s. ' , , Messrs. Dalgety and Company, Ltd.. Mastcrtou, report:—A good yarding of sheep, comprising chiefly ewes and lagibs of medium quality, was submitted to a good attendance. Competition was fairly brisk, a total clearance being (fleeted at the following prices:—Account J. P. Perry, 371 2-toot.h wethers. 17s. 6d. Account W. R. Birch. 245 f.m. ewes. 16s 4d.: 75 cull ewes. Its. Other prices realised were: Cull 2-totth ewes. 12s. 8(1. to 16s.* f.m. ewes, 7s. Id. to 12s. 6d.; cull 2-toot.h wethers, 12s. 5d.; b.f. lambs, 155.; cull wether lambs, ss. fid. to Bs. Bd.: cull ewe lambs. 9s. 3d. to Hu. Id*; good woolly lambs, 12s. 2d.

BEEF FOR HAVRE VESSEL TO LOAD IN MAY. Tho New Zealand Meat Producers’ Board has arranged with the shipping companies to put on the berth a vessel to load beef for Havre in May. FROZEN MEAT Messrs. Dalgety and Co-,. Ltd., report having received the following cablegram from their London house under date of M Laan'b7-New Zealand prime crossbred lamb Canterbury not quoted; North Isand, heavy 9)d., light 10d. Market is weak and looks like going lower. l ' a M r „tton Zealand prime crossbred muHon Canterbury not ‘quoted; North Island, heavy S?L, light (id. Demand for New Zealand mutton runs principally on light weights. Market is dU ßeef—New Zealand prime ox beef hinds 4(1 fores 2icl. Market for New Zealand beef is nominal. Demand is Frozen Meat.—Good average crossbred lamb, light 8d„ heavy lot quoted. Demand for Australian principally on poor qualties. Market unchanged. Good average qualitv crossbred mutton, light 4)d-,. h e a '’y Limited demand. Market is dull. Pork.—Priees are unchanged. Demand continues. THE MEAT MARKET SHIPMENTS FROM SOUTH AMERICA. The New Zealand Meat Producers’ Board has received a cablegram fiom its representative at Buenos Aires, South ■V menca, advising the .following shipments to the United Kingdom tor the fortnight ended March 18, from Argent?na and Uruguay :-213,500 quarters chUled beef, 54,594 quarters frozen beef, 116.080 carcasses frozen mutton, 60,53 b Ca The SS quant°ity shipped to the Continent 97i quarters frozen beef, 20,478 carcasses frozen mutton. LONDON SHEEPSKIN SALE Messrs Murray, Roberts and Co., Ltd., are in i-ecffipt of the following, sheepsldn market cablegram from their London agents, dated March 25:-Good selection good competition. Sheepskins: Merino advanced 5 per cent.; crossbred, fine pAr to 5 per cent, advance; crossbred, medium and coarse, market un■ChMesserds‘ Dalgety and Company. Ltd., renort having received the following cable£?am from their London house, under ds u? March 25.-’’5056 bales of sheepskins offered, approximately 4000 sold. Mood demand from America; France and Home trade rather quiet. As compared with last sales closing rates market, is firm generally at unchanged prices. DAIRY PRODUCE MARKETS Messrs. Dalgety and Co., Ltd., report having received the following cab egram from their London house under date ot Butter'—Market firm. We quote New Zealand finest salted, 1745. Danish, 1925. (190 s Australian, finest salted 1725. (1705.), unsalted 1735. (L2s.). Cheese-Market slow. New Zealand coloured 98s. (995.), white 975. (985.). Last week’s quotations shonn in parentheses. WESTFIELD MARKET Messrs. Dalgety and Company, Ltdreport having held their usual weekly sate of fat stock at Westfield, Auckland, on Wednesday last:—Beef. A large ing values being firm at late rates. We quote: Extra choice and prime ox, 295. per 1001 b.; choice and prime. 26s- to 285., binary and plain, Zls.; prime young cow and heifer beef, ordinary. 21s. to 235.: rough, 18s. to 20s. bhcep: A good yarding, there being little or no change ,n values, an extra good pen of wethers, account U* McCullough, Ardmore, made M's. 3d. Heavy prime wethers, 295., medium prime. 265. 6d. to 285.; small and unfin.V.od 15s. to 18s. Lambs: An average prime ewes. 225.: medium. 205.; light and unnished, 15s. to 18s Lambs: An average yarding, prices being on a par with last week's rates. Heavy prime lambs made 27s • medium, 245.; light, 20s. to 225. 6d. Calves: A good yarding, prices being easier. Runners, £4 to £4 55.; heavy vealers, £3 os. to £3 125.: medium £2 18s to £3 35.; light, £2 to £2 10s.; small, £1 10s. to £1 165.; fresh-dropped. 3s. to 7s. Pigs: An average yarding-, last weeks prices were not maintained. Choppers. £4 15s. to £4 195.; medium and heavy baconers, £4 to £4 10s. : light baconers and heavy porkers, £3 10s. to £3 165.; medium and light porkers. £2 to £3. COMMERCIAL ITEMS WELLINGTON STOCK EXCHANGE YESTERDAY’S BUSINESS.. AND PRICES At the afternoon call yesterday sales reported of Bank of New Zealand shares at 60s. 3d. and New Zealand Guarantee Corporation, ordinary shares (Bs. paid), at 9s. lOd. cum. dividend. There was a good demand for Government stocks and bonds, with buyers of the 41 per cents, at £96, and the 5J per cents, at £99 10s. Wellington Racing Club,. 8 per cent, debentures, were firm at £106; and New Zc land Breweries, 10 per cent, bonds, at 255. lid. Bank shares were firm. Bank of New Zealand shares’ were 3d. higher at. 60s. 3d., and Union Bank shares were 6d. higher at £l4 18s. 6d. National Bank shares were in demand at £6 14s. Goldsbrough Mort and Co.’s shares were firm at 485., and Wellington Trust and Loan at £6 6s. There were bids of 445. 6d. for HuddartParker ordinary shares, and 20s. for Union Steam preference shares. Wellington Woollen shares, ordinary and preference, were firm at £6. Westport Coal shares were 3d. higher at 355. 3d. Leyland-O'Brien Timber shares were firm and unchanged at 425. Brewery shares were in good demand, with buyers of Manning and Co. at 425.; Staples and Co. at 385., Ward and Co. at 405., and New Zealand Breweries at 565. 6d. For New Zealand Paper Mills shares 21s. was bid, and for Wilson’s shares, 365. , Yesterday’s buying and selling quota-

SALES IN OTHER CENTRES By Xelegrafh.—Press Assqciat.. Dunedin, March 26. Sales: New Zealand Breweries (debentures), 2Gs.; Kawarau, 6s. (two sales); St. Bathan’s (“A” issue), 7s. 3d. Auckland, March 26. Sales: Government War Loans (1938), £96 10s.; Bank of New Zealand, 60s. 3d. (two sales); Bycroft, Ltd., 28s. Gd.j Milne and Choyce (debenture stock), 255. 6d.; Kawarau, 65.; New Waiotahi (con.), Bd. and 9d.; Waihi, 235. Id. Christchurch, March 26. Sales reported: National Bank of New Zealand, £6 14s (id.; Union Bank, £l4 195.; National Insurance, 795.; New Zealand Breweries, 58s. Gd.; Westport Coal, 355. 5d.; Christchurch Gas, 235. 9d.; Electrolytic Zinc (i>ref.), 3Gs. (two), 365. 3d. Sales: Wilson’s Cement, 355. 3d.; Mason, Struthers (£1 paid), 21s. lOd. A HUGE PROFIT The statement, of accounts lor the year ended October 31, 19’25, issued by the Imperial Tobacco Contpasiy, shows a net profit of £8,884,990, which contrasts with £8,369,060 in 1924, and £7,474,687 in 1923. The amount brought forward was £549,264, and the amount available for allocation was £9 434,254, as compared with £8,890,604. Out of this £500,000 has been added to the general reserve, £250,000 to the pensions fund. The preferential dividend absorbed £852,208, and the ordinary dividend £7,188,407, the latter equalling 24 per cent, for the year, as compared with 22| per cent, in 1924, and 20 per cent, in 1923, and the ordinary dividend was free of income tax. The amount carried forward was £643,635. The general reserve fund, now stands a*t £8,000,000, against £5,500,000 in 1924, while among the assets the largest item, stock-in-trade, is nearly £1,950,000 lower at £29,809,790. The investments in associated companies, whose market value is stated to be largely in excess of the book value, stands at £6,528,446, an increase of £300,000. The holding of giltedged investments is £1,787,000 higher at £13,800,241, r.Tid cash £1,094,000 higher at £4,267,710, so that against the issued capital of £42,809,000 the companv has liquid assets of over £lB,000,000. ’ LONDON MARKET REPORTS. London. March 25. Wheat.—Cargoes moderate, inquiry firmer on prospect of smaller Argentine shipments. Parcels: Quiet request at late rates. Liverpool futures: March, 10s. Old.; May and July, ’.os. 101 a. Spot trade slow, but firm. Australian, ex shij. 595. Flour.—Steady. Australian, ex store, 425. 9d. Oats.—Tending to firmer prices. Peas. —Steady. Beans.—Easier. Sugar.—Granulated. 28s. 4id. per cwt. EXCHANGE RATES. / London, March 25. Foreign rates of exchange on March 25. as compared with par rates, or as averaged first half of 1914, are as follow:— Mar. 25 Mar. 22. Par.

CHICAGO WHEAT FUTURES. Now York, March 25. Chicago wheat futures: May. new, 1 dollar 66 cents; old, t dollar 54J cents; July, 1 dollar 36 cents; September, 1 dollar 32 cents. P. AND 0. SHARES. London, March 25. Peninsular and Oriental shares. £231. NEW SOUTH WALES LOAN. London. March 25. The New South Wales loan opened at 5 per cent, discount. Seventy per cent, of ’the loan was left with the underwriters. CUSTOMS REVENUE. The Customs revenue collected yesterday at the port of Wellington totalled £10,756.

tions were as under: — N Z. GOVT. LOANS— Buyers. £ s. d. Sellers. £ s. d. 44 n.c. Ins. Stk., 193S 90 0 0 90 10 0 54 n.c. ditto, 1933 .... 99 10 0 • 44 lie. Bonds, 1939 .. 96 0 0 —— 44 p.c. ditto, 1938 .... 96 0 0 •— 99 10 G debentures— Well. Racing Club ... ■ too 0 0 ■ ■"* N Z. Breweries (bonds) 1 5 11 1 6 0 BANKSNational of N.Z. .... 0 14 0 6 15 0 New Zealand 3 0 3 •— Union of Aust 14 18 6 — financial— Goldsbrough Mort ... Well. Trust. Loan . 2 8 0 6 6 0 Wright, Stephenson (pref.) — 0 17 9 GAS— Christchurch ••••••• — 1 4 0 MEAT PRESERVING— 1 10 TRANSPORT— Huddart-Parkcr (ord.) 2 4 6 •— Union Steam (pref.).. 1 0 0 WOOLLEN— Wellington (ord.) . 6 0 0 — Ditto (pref.) 6 0 0 —• COAL— West port 1 15 3 timber— Levland-O'Bnen 2 2 0 2 4 0 National — 1 1 0 breweries— n Manning and Co 2 0 Staples and Co 1 18 0 2 0 0 N.Z. Breweries 2 16 2 0

miscellaneous— Electrolytic Zinc (pref.) 1 16 9 N.Z. Paper Mills .... Walrarapa Itarmers’ 110 1 1 2 0 (pref.) Wilson’s Cement .... 0 17 1 1 16 0 1 16 9

New York, dols. to £1 4.86 3-16 4.861 4.866 Montreal, dols. to 4.87} 4.866 £1 4.87} Paris, francs to 25.22} £1 139.00 137.55 Brussels, francs 25.22} to £1 121.05 119.70 Amsterdam, florins 12107 to £1 12.13J 12.13 Stockholm, knr. to 18.12 18.12 £1 18.12 Oslo, knr. to £1 22.72 22.50 18.12 Copenhagen, knr. 18.94 18.52 18.12 to £1 Berlin, Eeiehs20.42 mark to £1 .. 20.43 — Rome. lire to £1 120.82 120.85 25.22} Yokohama, pence 22} 24.48 to yen 22} Calcutta, pence to rupee IS 18 24 Hong-Kong, pence 271 24 to dol 27} Batavia, florins to 12.12 £1 12.111 —