FARM & COMMERCIAL

Dominion, Volume 19, Issue 313, 30 September 1926, Page 14

FARM & COMMERCIAL

NEWS AND NOTES

AUCTION SALES

TO-DAY No. 1 Committee Room, Town Hall. 2.30 p.m.—Sale ot' lease of freehold lands ■ (W.C.C.). Dominion Farmers Buildings, 7.30 p.m.— Sale of Hutt Valley residence sites (Commissioner Crown Lands). Upper Hutt—Stock sale. 151 Brougham Street, 11 a.m. —Sale ot household furniture (E. Johnston and Co.). TO-MORROW. .Dalgety’s Auction Booms. Feilding, 11 a.m.—Sale of land (Dalgety and Co.). S Willeston Street. 1.30 p.m.—Sale of carpets (E. Johnston and Co.). I’eilding, 11.30 a.m. —Stock sale. Wright, Stephenson’s Store. Pipitea Breastwork. 10.30 a.m. —Sale of timber (E. Johnston and Co.). SATURDAY. 38 Waterloo Road. Lower Hutt, 1.30 p.m. —Sale of contents of G-rootned house (H. E. Leighton). FARMING INTERESTS LONDON WOOL SALES PRICES BULLY MAINTAINED. London, September 28. At the wool sales there was a good general selection and keen competition, prices being fully maintained. Best New Zealand prices were obtained bv Mount Gladstone, which realised tip to 20|d., and averaged 19d., and Mokopeka lilfd. and 17|d. Messrs. Dalgety and Company. Limited, report having received the following cablegram from their London house, under date September 28:—"Wool sales continue firm, without material change. Sales close October 6.’’

FROZEN MEAT MARKET SHIPMENTS FltOM NEW ZEALAND. [) ’ The New Zealand Meat Producers' Board reports the following shipments of frozen meat from New Zealand :— /

JOHNSONVILLE STOCK SALE Messrs. Abraham and Williams, Ltd., and Wright, Stephenson and Co., Ltd., report on their Johnsonville stock sale, held yesterday:—A heavy yarding of sheep and a medium one of cattle came forward. The bulk of the sheep were shorn and were all extra good quality. The quality of the cattle was medium to good. All classes of stock met with keen competition, and sold at prices on a par with previous week’s rates. Spring lambs met with a keen demand. No vealcrs wore yarded. Quotations:—Best bullocks. £l7. £l7 12s. 6d., £l7 17s. 6d., £lB. £lB 10s.. £lB 12s. 6d.. to £l9; others, £ll 2s. 6d„ £ls. £ls 10s., £l6 2s. 6d.. to £l6 10s. Shoop: Heavy shorn wethers. 315.. 31s. 3d., to 31s. Id.; medium do.. 265. fid. to 275. Bd.; maiden ewes, shorn, 255. 6d., 275. 10(1., to 295. fid.; woolly owes, 375. Gd.; shorn ewes, 24s 3d., 255., 265.; woolly hoggets, 255. 3d.. 265. Gd., to 30s. 9d.; spring lambs, 2Ss„ 28s. Gd., 315., to 345. LONDON TALLOW SALES Messrs. Dalcctv and Company. Limited, have received the following cablegram from London, dated September 28:-- Tallow- If any demand, we expect decline of Is. per ewt. at to-morrow's sale." DAIRY PRODUCE MARKET Messrs. Dalgety and Company. Limited, have received the following cablegram from their London house, under date September 28:—"Butter: Market dull. Prices 2s. lower. Present quotations. New Zealand finest salted. 'sßs. to 160 p. Secondary neglected.” Messrs. Dalgety and Company, Limited, Palmerston North, report having a good entry of sheep and a small entry ot cattle at their Marton sale on September 27. Sheep met with good demapd. and the following are quotations:—Goo<Y wether hoggets, 20s. 2d. to 215.; good ewo hoggets, 265. to 275.: dairy heifers. £3 10s.. £4 ss„ £5 55., £6 55.; large store pigs, £2 4e.

ADDINGTON MARKET

HEAVY ENTRIES AND LOWER PRICES.

By Telegraph—Press Association,

Christchurch, September 39. Entries were heavy at Addington today in most sections of stock. Fat cattle were down in value by 3s. per 1001 b., and heavier sorts by more. Eat sheep cheapened by Is. per head, but store sheep were a shade firmer. Store Sheep—ln a small entry wethers predominated. These showed a tendency to advance. Corriedale ewe hoggetii made to 355. 3d., and Romney ewe hoggets to 365. 2d. Ewes and lambs were also better. Good aged ewes with lambs, 13s. 6d. to 14s. 7d„ inferior ewes with lambs, 9s. fid. to lls„ specially good Romney ewe hoggets 365. 2d., good Corriedale ewe hoggets 355. 3d., good halfbred wether hoggets 225. to 235. fidordinary wether hoggets 19s. fo 21s, inferior wether hoggets 17s. to 18s. 3d., forward four and six-toothed halfbred wethers 275. to 365. Id., four and sixtoothed halfbred wethers 245. fo 265. 6d., four ami six-toothed three-uuaiterbred wethers 225. Gd. to 255. 8d„ two-toothed halfbred wethers 225. to 265. Spring Lambs.—The entry totalled 22a head, compared with sixty last week. For the time of year the yarding

was much in excess of the requirements of the trade, and prices were considerable lower than those ruling iast week when most of the. lambs made over 355. a head The bulk to-day averaged from 255. to 305.. the top price being 3<s. Fat Sheep.—A heavy entry and steady market. On account of freezing companies’ operations, values were about Is. net head easier than last week. Extra prime wethers made to 40 s. 7d., prime wethers ,345. to 375., medium wethers 30s. fid. to 335. fid., light wethers 28s. to 305., extra prime ewes to 335. 10d.» prime owes 275. Gd. to 30s. fid., medium ewes 235. 6d. to 275.; light ewes 18s. to 235., prime hoggets 295. to 325., medium hoggets 255. to 28s. fid. . Fat Cattle.—GOO were entered, including southern cattle, in fair numlsirs, ]’,ie beef was down by over £2 per nead, good prime by 255., and heifer by 20s. Best beef averaged from 365. to 38s. 6d. per 1001 b., and in a few cases to 4H., heavy 30s to 345., good medium quality 33s to 355. fid., ordinary cow and rough steer 28s. to 325. 6d„ inferior down to 255. Extra heavy bullocks made XU 10s. to ’.£lß 12s. Gd.,' prime heavy steers £ls to £l7 10s., prime medium-weight steers Xl3 10s- to .£ls 10s.. medium quality steers £lO 15s. to £l3 155., tight steels £9 ss. to £lO 10s., extra prime heifers to £l3 17s. 6d., prime heifers £lO 10s. to tie 10s., ordninary heifers £5 10s. to £lO light heifers .£5 to £7 55., extra prime cows to £l3 12s. Gd., prime cows £9 ss. to £ll 10s.. medium £fi to £9, light cows £4 10s. to £5 15s. Vealers.—A heavy entry, good sorts selling well. Bunners made to £9 10s., medium £0 15s. to £7 best calves £5 to £6 55., toilers 15s, to £4 10s. Store Cattle.—A yarding mostly of cows, which averaged from £2 6s. to £4 15s. „ r , Dairy Cattle.—A small entry, good sorts selling well. Second to fourth calvers made £G to .£B. others £2 10s, to £5 10s.. springing heifers £3 to £7. Fat Pigs.—A medium entry. Porkers sold well and baconers were easier. Choppers made £4 to £7 10s., baconers £4 ss. to £7 (average price per lb. 81d. to Old.), porkers 525. to 755. (average per lb. to 10d.). Store Pigs.—A fairly good sale, with little difference on a week ago. Weaners 17s. to 225., better sorts 255. to 325., ordinary stores 355. to 485.. extra large 50s. to 635., sows in pig £B.

BURNSIDE STOCK SALE?FAT CATTLE AND SHEEP CHEAPER, PIGS DEARER. BT THLBCBAPH.—PRESS ASSOCIATION. Dunedin, September 29. At Burnside to-day prices for fat cattle and sheep eased, but pigs were firmer. Sheep.—A penning of 2023 animals of good quality. A sprinkling of fine wool wethers and a few consignments of prime heavy crossbred ewes were included. Rates were easier by from Is. 6d. to 2s. Gd. per head, heavy sheep cheapening most. Prices were: Extra prime heaw wethers 395. to 425., prime heavy 355. to 375., lighter 31s. to 335. 9d., prime heavy owes 30s. to 325., lighter 275. to 28s. 9d., medium 245. to 265. Lambs.—A penning of seventeen. The demand was very fair, and prime heavies realised to 41s. 6d., and prime lighter from 31s. to 365. Extra heavy wethers were worth 45d. per lb., prime wethers Bid., prime heavy ewes 4id., light and aged to 4d., spring lamb Is. 4d. Fat Cattle.—A yarding of 217. The entry was i-epresentative of all qualities, including extra well finished consignments of extra heavy bullocks. and a number of prime cows. The opening was quiet, and early in the sale prices were £1 below last week’s prices. Extra heavy bullocks realised £2O to £3l 12s. 6d'., prime heavy £l7 to £l9 10s., medium £ls to £l6 10s., lighter £l2 to £l3, prime heifers £lO 50. to £ll, lighter £7 10s. to £8 15e. Extra heavy bullock beef made 38s. per 1001 b., prime light 415., prime heifers 325. 6d., cows and light heifers 255. to 275. 6d. Store Cattle.—A yarding of 284, made up mainly of medium to very fair cows, but including an odd pen of young steers. Values were much on a par with last weeks Pigs.—A penning of 119 fats and 44 stores. Baconers of good quality were prominent in the entry of rats. These sold well at up to last week’s rates, and Barkers wore about ss. firmer. Prices: Heavy baconers £5 10s. to £6, light £t 15s. to £5 55., porkers £3 10s. to £4 5s OPOSSUM SKIN SALE Messrs. Wright, Stephenson and Company. Limited. Wellington, f dvise having received the following report from their Dunedin office in regard to the opossum skin sale held in that centre on September 26:—At our opossum skin sale wo offered a large catalogue to a full attendance of buyers. Bidding was keen throughout the sale, and we have to reirnrt a rise in the price of blues and greys of Is. to Is. 6d. per skin. Prices for blacks and reds remained on a par with those brought at cur last sale. Quotations: First and super blues, 12s. to 15e. 10d.; seconds, Bs. to 10s.; thirds, 4s. 6d. to 65.: first and super greys, Ils. 6d. to 14s Bd.; seconds, 7s. to 10s.; thirds. 4s. 6d' to 65.: first and super blacks. Bs. to 11s.; seconds. ss. to 75.; thirds, 3s. 6>l. to 4s. 6d.: first reds, 7s. 6d, to Bs. 6d.; seconds, 4s. 6d. to 6s. 6d. ENGLISH WHEAT MARKETS. (Rec. September 28, 5.5 p.m.) London, September 27. Wheat. —Cargoes are quiet, but prices are unchanged . Parcels are in small request at 3d. per quarter down. Liverpool futures: October, Ils. OJd.; December, 10s. 83d.; March, 10s. 63d.; May, 10s. sd.

COMMERCIAL ITEMS

WELLINGTON STOCK EXCHANGE

YESTERDAY’S. BUSINESS AND PRICES

A sale of Union Hauk shares at £ls Is. reported at the afternoon call was the only transaction recoi-ded yesterday. There was a moderate demand and business was somewhat dull. For Government stocks’ and bonds there was a fair demand with buyers of the 41 per cents, at £96 10s., the 5} ■ cents, at £97, and the 51 per cents, a Bill ss. Bank shares were steady, but there were fewer buyers of English, Scottish and Australian at £8 (is., National Bank of New Zealand at £7 25., Bank of New Zealand at £3 25., and Union Bank at £ls 3s. N.Z. Guarantee Corporation ordinary were firm at 10s. Gd.. Wellington Investment were steady nt 10s. 4d., and Wellington Deposit at 9s. 6d, South British Insurance were firm at 58s. (id. New Zealand Refrigerating, 10s. paid, were wanted at (Is. and Gear Meat were on sale at 38s. Gas, Shipping and 'Woollen shares were neglected. There was a bid of 225. for Taupiri Coal ordinary, and 14s. 3d. for Waipa Coal shares. There were plenty of sellers of timlzer shares but no buyers. There were buyers of Staples and Co. brewery shares at 3fis. fid., and Tui Brewery at 325. Wilson's Cement were firm at 335.

Yesterday’s buying and selling quotations were as under:—

SALES IN OTHER CENTRES By Telegraph,—press Association.— Auckland,. September 29. Sales: Inscribed Stock (19.38), £l)6 12s. Cd.; Auckland Gas, 235. 3d.; Devonport Steam Ferry (rights), 55.; Kauri Timber, 295. 9d.; Moanatairi (contrlb.), Is. lid.; Kawarau, 2s. Bd.; New Waiotahi (contrib.), Is., Is. 3d., Is. sd„ Is. 6d„ Is. 10d., Is. lid., 25.; Waihi, 19s. 3d. Dunedin, September 29. Sales reported: Westport Coal, 365.; Bank of New Zealand, 625. '3d. Invercargill, September 29. Sale reported: National Bank of New Zealand (stock), £7 3s.

COAL OIL (N.Z.) LTD.

Australian capital is being sought for this company, ami the prospectus issued in Svdnev shows that the nominal capital is £750,000 in shares of £1 each, of which 300,000 were on issue to the public, and this issue was underwritten. Shares numbering 90,000 are to Ixi issued to the vendors. The company is Ixiing formed to take over from tho vendors certain properties at Calliope, Westport, certified to be coal bearing, and certain other property at Waipahki in the Hawke’s Bay district, expected to be oil bearing. The prqspecius contains reports respecting the coal under tho land to be secured in the South Island, and as to the prospects of oil in the North Island, but no reason is given for combining the two ventures. The directcrs are:— Australian Ixiard, Sir Arthur Cocks, Senator J. D. Millen, Messrs. J. M. Watts, John McGeachie, J. 8. G. Wright and G. ML Long; and the New Zealand iioard, Messrs. A. A. Mitehell, 11. N. Gooch' and A. A. Wilson.

DUNLOP RUBBER CO

For the yeai- ended June 30 the Dunlop Rubber Company of Australasia Limited earned a net profit of £252,582, against .£222,427 for the previous year. With £16,935 brought forward, there was available £269.517. The dividend for the year 1 on both preference and ordinary shares is 10 per cent. The collapse* in the price of commodities in 1921 interfered with the course of profits to ordinary shareholders, but of late the company, like other concerns engaged in the manufacture of tires and other rubber goods, has been earning on a large scale. During the year capital was increased by an issue of 292,835 ordinary shares at 20s. each,because of tho expansion in the business and on account of the acquisition of an interest in the Dunlop North British Shoe Co. Pty. Ltd. The liabilities of ithe company are: Capital, £1.970,617, against £1,691.342; profit and loss, £193,876, against £168,215; bankers’ deposits, etc., £245.931, against ,£244,748; sundry creditors, £167.704, against £51,492; and reserve fund, £85,000, an increase of £50,000. The assets are: Freehold, £411,682, against £413,682; leaseholds, £41,584. against £43,734; plant, etc.. £501.730. against £416,128; stock-in-trade, £984,460, against £790,013; sundry debtors, £366,596, against £294.455; other items; £17,471. against £16,266; goodwill, £IBO.OOO. unchanged; and shares, £156,600, against £6600.

HUME PIPE COMPANY

The net turnover by the Hume Pipe Company (Australia) Ltd. for the year ended June 30 last is stated to have been a record, as compared with that of any previous term. The Singapore Hume Pipe Co., Ltd., a subsidiary company. had a successful financial year, earning £8033. or 20 per cent, on its capital, so that a dividend of 10 per cent, had been paid. In the case of Hume Steel Ltd., important progiress was said to have been made during the term and contracts obtained. The profits of the parent, company for the year are reported at £42.741, against £'52.902 for the previous year. The dividend of 8 per cent, absorbs £40,000, the sum of £2OOO is transferred to the plant depreciation reserve, and £7532 has been set apart as provision for taxation, leaving £10.923 to be carried forward, against £10.784 brought into the accounts. The capital is £500.000, against £499.995 a year ago. reserves stand at £12.000, and provision for taxation £18,639. Deposits have been reduced from £11.858 to £6277, sundry creditors at £21.036, contrasted with £18.691, while £52,341 is bank overdraft, against £29.146, the balance-sheet total being £641.183. The largest item among the assets is plant and machinery, which at £181,243 compares with £213,042 a year ago. Of the other fixed assets, freeholds at £48.673, and patents at £85.720 are practically unchanged. Manufactured stocks stand at £69.178, against £89.373. The value of work in hand is £22.967. Sundry debtors account for £122.234. against £119.070; shares in other companies, £54.077 against £58.551; and Hume Steel Ltd. unsecured debentures £BOOO.

TARANAKI OIL FIELDS LIMITED The report of the Taranaki Oil Fields J ,td., for the week ended September 25, was: Waipu No. 1 well, drilled to 2245 feet in hard red shale; 8J inch diameter casing landed at 2100 feet.

Beef, Mutton, Lamb, 1925. ijrs. e/cs. e/cs. Nov. 45,118 31)0,071 133,485 London 16,258 8,230 1,000 IV. C’st., U.K. 10,051 — — Havre 10,572 — — Antwerp Dec. 25.373 120,7!)'.) 99.953 London 33.715 13,770 2.780 W. C’st., U.K. 21,258 — — Genoa 192G. Jan. 53 141.563 3S5.I1!) London Feb. 3.871 2.257 15.4611 W. (."st., U.K. 3,8*12 220,21)0 448,789 London 8.318 32,094 148.518 IV. (."st., U.K. March 5,703 117,540 482.519 London .. 900 10,395 83,972 IV. C’st., U.K. 2,205 — — Genoa Apri 0,573 129.840 781.230 London 3.9.12 3.038 58,916 IV. C’st., U.K. May 5,801 83,90!) 478,943 London 8,377 — — Genoa 7.688 — — Havre J line 9.108 100,.859 397.577 London 138 17.077 1.25,824 W. C’st., U.K. July 32,773 251,247 527,837 London 20.155 41,779 68,010 W. C’st., U.K. 11.809 — — Havre .. 17,886 — — Antwerp .. 8,438 — — Genoa Aug. 15,043 398.144 277,895 London 7,4*17 2,487 26,360 IV. C’st., U.K. Sept. 1-15 7,53!) 131.861 91,956 London >» 7,904 7,381 12.030 IV. C’st., U.K. Total to September 15, 1926— 147,06(11,996.789 4,105.609 London 114,602 176,840 833,147 W. C’st., U.K. 36.148 — — Havre 37,458 — — Antwerp 40.278 — — Genoa Total for same period last year, viz., to Sept. 15, 1925— 131,484 1.561,314 3,704.257 London 79,565 221,902 763,094 W. C’st., U.K. 12,438 — — Hamburg 72,580 — — Genoa | 1

Killings at all works during 1925-2G Reason, commencing November 1. 1925, to September 15, 1926’, were as under (the figures for the corresponding period of the 1924-25 season are shown in parentheses):— North Island. Beef (quarters) 217,fill (450,170) Wether mutton (c/cs.) 1,075,578 (1,122,202) Ewe mutton (c/cs.) .. 515,085 (071.827) Lamb (c/cs.) 2,374.509 (2,043,531) Pork (c/cs.) 48,717 (34,940) Boneless beef (freight C/CS.) 184.502 ( 204,120) Sundries (freight c/cs.) 97,831 (47,337) South Island. Beef (quarters) 3.932 (13,353) Wether mutton (c/es.) 138.259 (149,488) Ewe mutton (c/es.) ... 204,355 (284.770) Lamb (c/cs.) 2,624,804 (2,705,883) I’ork (c/cs.) 141 (467) Boneloss beef (freight c/cs.) 33,046 (58,889) Sundries (freight c/cs.) 13,899 (11,116) Totals. Beef (quarters) 221.543 < 403.5231 Wether mutton (c/es.) 1,213,837 (1,271,690 Ewe mutton (c/cs.) ., 779,440 (950,597 Lamb (c/cs.) 4,999,313 (4,749,414 Pork (c/cs.) 48,801 (35,407 Boneless beet (freight c/cs.) 217.548 (263,009 Sundries (freight c/cs.) 111.730 (58,453 Stocks on hand in stores in Now Zealand September 15, 1926 (the stocks on hand September 15, 1925, are shown in paren theses): —

North Island. Beef (quarters) 20.970 (188,480) It ether motion (c/cs.) 71.137 1170,815) Ewe mutton (c/cs.) .. 49.653 (142,411) Lamb (c/cS.) 18,105 (28.029) Pork (c/cs.) 1.131 (878) Boneless beef (freight c/cs.) . 7 337 (64,71.3) Sundries (freight c/cs.) 9.5S3 (23,010) South Island. Beef (quarters) 1.221 (8,859) Wether mutton (c/es.) 15.834 (39,081) Ewe mutton (c/cs.) .. 71,321 (96,220) Lamb (c/cs.) 1111,181 (140.085) Pork (c/cs.) —— (-) Boneless beef (freight. c/cs.) .3.150 (35.712) Sundries (freight c/cs.) 1.343 (1,708) Totals. Beef (quarters) 22.191 (197.339) V\ other mutton (c/cs.) S7.271 (210,490) Ewe mutton (c/cs.) .. 120.971 (238,031) Lamb (c/cs.) 179.370 (175.314) Pork (c/cs.) 1.131 (878) Boneless boot (freight c/cs.) 10.493 (100,425) Sundries (freight e/cs.) in.920 (24,724) Stocks of frozen meat loaded into steamers not departed from New Zealand :■— As at As at Sept. Sept. 1 5. 1020. 15. 1925. Beef (quarters) —— (14.697) Wether mutton (c/cs.)) 8.519 (49,652) Ewe mutton (c/cs.) .. 22,948 (59.1.-.0) Lamb (c/cs.) 58,244 (138,914)

Buyers. Sellers N.Z. GOVT LOANS- £ s d .£ s. d 4J p.c. Insc. Stock, 1939 96 15 0 51 p.c. Insc. Stock, 1933 100 0 0 -- 55 p.c. Insc. Stock, 1927<941 97 0 0 41 p.c. Bonds. 1938 96 10 0 5} p.c. Bonds, 1933 ... 100 5 0 — DEBENTURESN.Z. Breweries (Stock) — 1 4 1 BANKSEnglish, Scottish, and Australian 8 6 0 — National of N.Z 7 2 0 7 3 6 New Zealand 3 2 0 Union of Australia ... 15 3 0 — FINANCIALN.Z. Guarantee Corp.. ord. (8s.) 0 10 6 —- Wellington Invest 0 10 4 — Wgtn. Trust Loan ... — 6 10 0 Wellington Deposit ... 0 9 5 0 10 6 GASAuckland (paid) — 1 3 6 INSURANCENational — 4 0 6 South British 2 18 6 MEAT PRESERVINGN.Z. Refrigerating (10s.) 0 6 0 Gear — 1 18 0 TRANSPORT-Huddart-Parker (ord.) — 2 8 3 COALTaupiri (ord.) 12 0 — West port — 116 6 Westport-Stockton (pref.) 0 4 0 Walpa 0 14 3 TIMBER— Leyland-O’Brien — 2 3 9 Tarings mutu — 18 0 National — 0 17 0 BREWERIES— N.Z. Breweries 2 14 6 | ■Staples and Go 116 6 Tui 1 12 0 MISCELLANEOUS0. M. Ba,nks (pref.) ... — 0 18 6 Dental and Medical Supply — 0 17 3 Electrolytic Zinc (pref.) — 116 3 Howard Smith ... — 1 13 0 Newton King (pref.) . — 0 14 0 Scoullar Co — 13 9 Wairarapa Farmers' (£5) _ 4 10 0 Wilson’s Cement ...... 1 13 0 1 14 0 MININGBlackwater Minos . — 0 9 0 Grand Junction 0 2 0 0 2 6 Kawarau 0 2 6