FARM & COMMERCIAL

Dominion, Volume 20, Issue 16, 14 October 1926, Page 14

FARM & COMMERCIAL

NEWS AND NOTES

AUCTION SALES TO-DAY. Oddfellows’ Hall, Petone, 7.30 p.m.—Sale of building sites (W. Croft and Co.). Showgrounds, Palmerston North, 11 a.tn. 4th annual Manawatu bull and heifer show and sale (Wright, Stephenson, and Co. and Abraham and Williams). 216 The Terrace, 1 p.m.—Sale of household furniture (J 11. Bethune). 63 Cambridge Terrace. 1 p.m.—Sale of' household furniture (R. Wilson and Co.). Upper Hutt. 1 p.m.—Stock sale. TO-MORROW. Feihling—Stock sale. 8 Willeston Street. 1 p.m.—Sale of £104)0 worth of carpets (E. Johnston and Co.). FARMING INTERESTS NEW ZEALAND BUTTER PRICES REDUCED AGAIN ‘ IN LONDON London, October 18. Commercial circles consider that New Zealand has blundered in conserving its butter supplies in an attempt to maintain prices. A prominent firm thinks that New Zealand should be satisfied to meet the market, thus preventing a glut resulting. To-day’s prices arc: New Zealand Ills., and Australian 1425. The public, realising that quantities are available, will only provide for their immediate needs, for which reason a further reduction of a penny per pound in the retail price is likely. It, is suggested that the remedy is a further retail reduction, thus increasing tho demand.—Sydney "Sun” Cable. BUTTER CHEAPER IN SYDNEY (Rec. October 13, 7.15 p.m.) Sydney, October 13. The wholesale price of butter has li'in reduced a halfpenny a pound, to 1725. Bd. per cwt.

SYDNEY WOOL SALES KEEN DEMAND FOR QUALITY SORTS. (Rec. October 13, 10.10 p.m.) Sydney, October 13. At the wool sales, competition was keen and the market reproduced all the best features of the q previous sales. There was particularly keen demand for quality wools, which ruled firm at late rates.' Come-backs and crossbreds were firmly suported. Greasy merino sold up to 27Jd. per lb. TOMATO CROPS RECEIVE SEVERE CHECK. . Dominion Special. Nelson, October 13. The tomato industry has received another severe check, the second within a month, when a severe frost this morning played considerable havoc with outside plants. Tho Wood area, which in former years has usually escaped late frosts, is hard hit, while growers in other parts of the town have also suffered severely. Tens of thousands ot plants have been put in during the last week, while many more have been placed in the beds ready for transplanting. Some growers have suffered more severely than others, while there uro a number- of more, fortunate ones who have not yet planted out in the open to any extent. ABERDEEN ANGUS BULLS SUCCESSFUL SALE OF PEDIGREE ANIMALS. BY TBIiEGBAPH.—FRES3 ASSOCIATION Danncvirke, October 13. The annual sale of Aberdeen Angus pedigree bulls under the auspices of the New Zealand Aberdeen Angus Breeders’ Association was held yesterday at Danncvirke. It was more success!ul than was anticipated, considering tlio recent and present weathers. Forty - four bulls wore offered, the top price of the auction being IflOgns. tor Mr. Armstrong’s two-year-old Urgel of Aknio, which was bought by Mr. W. Clark, of Gisborne. Other prices at. the auction ranged from 20gns. to 70gns. Mr. W. A. Macfarlano’s Jupiter of Waiterenui was sold privately to Mr. F. Armstrong for 150gns. BURNSIDE STOCK SALEr goqd demand and improving v PRICES. BY Telegraph.—Press association. Dunedin, October 13. At Burnside stock sale to-day sheen advanced from Is. to 2s. per head, and fat cattle by 20s. Sheep.—A penning of 1501. A good mixed entry, there being few owes, a good many, medium-weight sheep, and a moderate supply of heavy-weights. '1 here was a better demand throughout, and prices improved from Is. to 2s. per head. The later sales were the better. Heavy sheep showed the least change. Extra heavy wethers brought from 4 Is. to 515., prime heavy 38s. to 41s. Gd., lighter 31s. to 355. 6d„ best ewes 28s. to 31s. Gd., lighter 21s. to 255. 9d. • r Spring Lambs.—A penning of 22 ot good quality. Competition was keen, and prices were: Extra heavy 475. to 505., prime heavy 41s. to 455., lighter 30s. to 365. Extra heavy wethers made 6d. per lb.; light. Gid. Ewes, 4d. to 5d.; lamb. Is. 9d. Fat Cattle.—A yarding of 271. Iho proportion of cows and heifers was fairly large, anti some choice bullocks from the south and local farms were included. The balance of the entry was composed of good average quality steers. The sale opened with rates on a par with last week’s, and values firmed bv perhaps 10s. An extra prime heavy bullock realised £l9 12s. Gd. Prime heavy bullocks, £l7 to £lB 10s.; medium, £l5 10s. to £l6 10s.; light, £l3 to £l4 10s.; extra heavy cows, £lO to <£l2; heavy, £9 to £10; medium, £7 10s. to £8 10s.; light, from £6 to £7. Extra heavy bullock beef made 40s. per 1001 b.; light, 435.; heavy, 355.; cows sold at 255. to 30s. per 1001 b. Store Cattle—A big yarding, mostly of cows. One or two pens of three-year-old steers brought £9 ss. per head. Three or four pens of two-year-olds realised from £5 15s. to £6 15s. per head, and steers aged eighteen months from £4 15s. to £5. Forward cows were about £6 on the average. Pigs.—A penning of 115 fats and 95 stores. Heavy .bacon pigs made from about £5 4s. to'£G, and light, from about £5 ss. to £5 125., prices being a shade firmer. Porkers sold readily at last week's rates, prices ranging from £3l 17s. to eC4 Gs. Stores realised up to Bs. pei* head, prices being a shade firmer.

ADDINGTON SALE A. KEEN JIEMAND. BY I’ELESBAPn. — PRESS ASSOCIATION. Christchurch, October 13. Entries in the. sheep section at Addington market to-day were small, and a sharp rise in values was created. I artieularly was this the case in fat sheep and fat lambs. A heavy entry of beef met with lower values. Store sheep were a very small entry. There was a, particularly keen sale for ewe hoggets, ar.d a firmer one for ewes and lambs, due to the good rainfall of the past week. Good aged ewes and lambs sold at 15s. to 16s. 6d.; fair ewes and lambs, 13s. to Ms. 6d.; inferior aged ewes and lambs, Ils. Gd. to 12s. Gd.; Corriedale ewes hoggets, 38s. Id.; three-quarter-bred wether hoggets, 235. Gd. to 2-ls. lid.; two and four-toothed crossbred wethers, 265. Spring lambs, entry of ItM) was too few for butchers’ requirements, and a jump of 3s. to ss. a head took place. Most of the lamb was over Is. a lb. Prices ranged from 21s. to 365. per head A small yarding of fat sheep, most of excellent quality, met with a spurt in values, the average being from 'ls. to 5s a head Extra pnne wethers brought 445. to 465. 10d. ; prime wethers. 395. to 435. : medium wethers. 3«s. to 38s. Gd.: light wethers, 335. to 355. Gd.: extra prime owes, to 395. lOd.; prime ewes, 325. Gd. to 3(i.5.; medium ewes. 295. Gd. to 325.-. light ewes. 2-ls. 6.1. tn 295.; prime shorn wethers. 31s. to 355. I<ld.; medium shorn wethers. 255. Gd. to 295. Fat cattle were a large entry of 550 head. 200 more than last wook. The hulk wore from North Cantorlmrv am’ Banks Peninsula, but a rood few truck lots of cows and Imifo's come from South Dingo and Southland. The snip r.r (Im commencement lost 40--. Id. on the advance recorded Inst wook. but rom- im----

bv 265. per head ever most of sale. Best beef made to Ms. per 1001 b.; good prime, 375. to -Ms-; heavy, 335. to 365. Id.; medium quality, 325._ 6d. to 355. Id.; and inferior down to 2<s. 6d. per 1001 b. ibe sale concluded firmly. Extra heavy bullocks brought £l9 to £2O 17s. Gd.; prime heavy steers, £l6 to XUS- prime medium-weight steers, J-i-i 10s ’to £l6 55.; medium quality steers, Jill 10s. to £l4; light steers, £9 12s. 6d. to £11; extra prime heifers, £ll to AB 12s. fi<l ; prime heifers, £ll J *?. to £l3 10s • ordinary heifers, £9 to £11; light heifers, £7 to £8 155., extra prime to £ll 17s. Gd.; prime cows, asm PI" 155.: ordinary cows, £< as. to .ujo . Itoht cows, £5 17s. Gd. to £7. Vealers were a poor quality lot. Good runners made to £B, and the best calves £1 10to eg Store cattle, only odd mts. A few’ pens of three and four-year steers madoto £9 15s. Id.. and two-year-old to £G 1« Dairy cattle, small entry best fecond to fourth culvers. £7 to. £10: others. £3 10- to M>M springing heifers, £2 10s. to £6; fat pigs medium entiw, and a slacker sale for baconers. Porkers about the same. Choppers £4 n= Id to £7 10s.; baconers, £3I Ls. Gd. to £4 10s.; heavy baconers, £5 to £5 10s.; extra heavy baconers, to £6, Average price per lb., 71d. to Bd.; porkers 50s. to 575. fid.; heavy porkers £3 3-. to ,£3 125.; average price per lb., vid to 9 Mtoro pigs wcro a good-sized entry, -and a keen sab. with an .advance in prices Wcancrs, 275. to 3Ss.; stores, 36s to rtK. large stores, to 625.; sows m pig. £< 10s.

JOHNSONVILLE STOCK SALE Messrs. Abraham and WiUiams, Ltd., and Wright. Stephenson and Co., 1. < report on their Johnsonville sale, b d yesterday:—A particularly fine ya«bnof heavv and good quality bullocks came forward. A..keen, sale resulted at prices considerably m advance of previous sales. A medium, number of shen were penned, comprising a truck of heavy shorn wethers, which realised ala Id/ Other sheep sold freely at late rates. The spring lambs yarded were only of medium quality, buf th er .e wa/a good demand. Quotations: BuiS^s^Gd. 10 ss„ £2O GdL £2O to ld.; woollv wethers, 335. jo 35s’ 9d.; woolly .maiden ewes, 325. Gd., 33s Gd. to 345.; ewes, 295.. 315., 325. Gd. to 335.- hoggets. 245. 3d.: spring lambs, o°s 6d., 255., 2G. Gd.. 275. 3d. to 30s. Gd.’ No vonlers were yarded. LONDON TALLOW SALES Messrs. Dalgety and Company, Limited, oit having received the e ililc<'rain from their London house. , '.ier date October 12:-"Ta low: Owing rick of demand there will be no pubsales this week. Any change in ices in favour of buyers.

NAURU PHOSPHATES

QUESTIONS OF ALLOCATION.

In reply to a remit from the annual cm lerence of the New Zealand Farmers Union- "That in view of the supreme nnoi.rtance of a continuous and adequate supply of phosphates in this country, and in view of the fact that New Zealand ig already absorbing more than her allotted share of the output of Nauru Island, tho Government be urged to take an early opportunity ot getting an alteiation in the Nauru Agreement so as to secure to New Zealand a larger share ol clie output,' a statement has been made by the Minister of Agriculture, to the clfect that the question of a reallocation of proportions lor each country had been taken up with Great Britain and Australia, but was deferred at the renuest of Great Britain. A dispatch from the Secretary ot State for Dominion Affairs, in which this desire was expressed. stated that under the present, arrangement the whole of the United Kingdom allotment not required by the United Kingdom was .at the disposal of Australia and New Zealand, and m the event of British consumers desiring to obtain largo supplies of phosphate from Nauru and Ocean Islands, care would be taken to give reasonable notice of such intention. It was not anticipated that Britain would require any quantity from Nauru and Ocean Islands for some years to come. At the same time, the matter had been kept in mind, and it had been arranged that a full discussion of it with' Great Britain and Australia would take place in London at the time if the Imperial Conference.

COMMERCIAL ITEMS

WELLINGTON STOCK EXCHANGE YESTERDAY’S BUSINESS AND PRICES ■ At the afternoon call yesterday sales wei’6 reported of per cent, stock at ,£WO 7s. 6d. (two parcels), 4A per, cent, bonds (1930) at <£97 12s. 6d„ Western Australian Bank at 575. 6d.,_ and New Zealand Guarantee Corporation ordinary at 10s. 9d. There was a good demand for Government stocks and bonds, with buyers of the 4| per cents, at £96 7s. Gd., the 5 per cents, at -£99, and the 5J per cents., at -£lOO ss. Bonk shares were steady. There were bids of -EM 2s. for Bank of Australasia, 61s. for Bank of New Zealand shares, ex ri'dits, Bank of Now Zealand rights at” 6s. 9d., Union Bank at <£ls 25., and Western Australian Bank at 575. 6d. There wore sellers of Bank of New South Wales shares tit <£ls 10s. Shares of financial companies were slow. There were buyers of New Zealand Guarantee Corporation ordinary at 10s. Gd., Equitable Building at -£9 2s. 6d„ Wellington Investment at 10s. 5d., and Wellington Deposit at 9s. I’d. Auckland Gas shares were steady at 235. 3d. Insurance shares were firm". New Zealand Insurance shares were in demand at 38s. Gd., and South British Insurance at 595. New Zealand Refrigerating shares, 10s. paid, were steady at 6s. Huddart-Parker ordinary shares were- on sale at -18 s. 6d. Coal shares were in much better demand, and there were buyers of Westport Coal at 365., Waipa Coal at 14s. 6d., and Taupiri Coal ordinary at 225. 3d., and preference at 235. Staples amt Co.’s shares were firm and unchanged at 375. 3d. Dental ami Medical Supply were steady at 16s. 9d., Milburn Lime and Cement at 305., and New Zealand Milk Products at 40s cum rights. Yesterday’s buying and selling quota-

WAIRARAPA FROZEN MEAT COMPANY The balance-sheet of the Waiiarapa Frozen Meat Company, Ltd., for the year ended September 30 discloses a net profit of £2199, which is £42 more than was earned in the previous year. The gross receipts amounted to £17,539, against £l7£G7, a decrease of £428. The expenses under all heads, including depreciation, totalled £15,340, against £15,810, a decrease of £470, leaving tho net profit at £2199, against £2157. There was brought forward from tho previous year the sum of £1732, which, added to the net profit, makes £61131, and this amount has been carried forward. The total number of stock handled at the works was 241,280, comprising 89,596 sheep, 143,714 lambs. 5328 cattle, ' and 2612 calves. The killings for the season were fewer than in the previous year when the number was 252,965, and fewer than the average lor the ten years to June 30, 1925, which was 270,673. The company holds the works on lease from the Bank of New Zealand, the rental being £7500. The freehold land owned by the company is valued at £125, and the machinery, plant, and motor-cars at £1714. The items of- the balance-sheet, with those for last year in parentheses, are as follow': —Liabilities: Capital paid up, including calls paid in advance, £38,859 (£29,565); sundry creditors, £2245 (£3708); Bank of New Zealand, ml (£5215); profit and loss, £6831 (£4732). Assets: Freehold land, £125 (£125); machinery, plant, etc., £1744 (£1530'; stocks and stores, £3718 (£1144); sundry debtors, £1625 (£4159); rent paid in advance, £625 (£625); accrued charges, ml (£10,143); deposit at call, £19,700 (nil); bank credit, £lOl (nil); total, £48,035 (£43,220).

THE BUTTER MARKET The butter market appears to be in a deplorable condition, and notwithstanding reductions in price, there is very little selling. The market is weak, and future prospects are discouraging. A contraction in the demand owing to the unsettled industrial situation, and heavy stocks due to the holding policy have contributed to the present situation, and with the near arrival of fresh Australian and New Zealand supplies, the prospect of a recovery is rendered remote. Ihe market is in’ a. peculiar position, mid for the first time in the history of the trade, Argentine butter is quoted at a higher price than either New Zealand or Australian. According to the N.Z. Dairy Produce Board’s advices the quotations for butter are as follow: — New Zealand 1475. to 1595. Australian 1445. to 150 - ilrgentino 150 s. to 1565. This gives the Argentine butter a definite lean, but it is probable that Argentine’s butter is unsalted, in which case it would be unfair to compare it with salted butter. At the same time, it must be admitted that Argentine butter is steadily improving in quality. Messrs. O’Callaghan, formerly of Australia, ami Petersen, a former dairy expert of New Zealand, are werking hard to improve the quality of the Argentine output, and it is already said to be equal to Australian. The retailers in Britain have reduced tho price by a penny per lb.. and this should stimulate the demand.

SALES IN OTHER CENTRES Dunedin, October 13. Sale- British Tobacco, 51s. 9il. Sales reported: Bank of New Wales. £45 ss. (two parcels!; New Zealand Refrigerating (cont.). Jis. 3d.: Dominion Rublier, 50s. Gd.: British Tohnceo, 51s. (id.; Wailii Grand Junction, -s. .><U Auckland, October 1»». Sates: War Loan (1938). £96 So 1: diers’ Inscribed (1933), £lOO Os.; National Bank of Australasia (contrib). £9 45.. Bank of New Zealand (rights). 6s 9< ~ Auckland Gas, 235. 9d.; Alburma, -4s. <d„ 4s. 8(1.

Messrs. Joseph Nathan and ’ i.'iitod, have received the following c'lhlcßFuni from their London house, under date' October -2:~"Ncw Zealand ■ • -t. 1445. to 1465. per cwt. ■

tious were as under:— Buyers. Sellers. N’.Z. GOVT. LOANS— £ s. d. £ S. d. 44 p.C. Ins. Stk„ 1939 — 96 15 0 44 p.c. ditto, 103S .... •— 90 15 0 r,i p.e. ditto. 1933 .... 100 0 100 0 0 ni P.O. ditto. 1027/1041 97 41 p.e. Bonds, 1939 .. 90 b 0 —— fl —— 44 p.e. ditto, 193S .... 90 6 —— 5? p.e. ditto. 1933 .... 109 0 — 5'pc I’.O. Bonds ... 99 0 0 —— DEBENTURES— N.Z. Breweries (bonds) 1 4 0 Petoue and Lower Unit. 5} p.c. (1927/1052) .. 95 'l () 96 0 0 BANKS— Australasia ** 0 National of N.Z —— 7 1 0 New South Wales ... —- 45 10 0 Now Zealand (x-rights) 3 .1 0 — Ditto (rights) 0 (J 9 0 7 6 Union of Australia .. 15 2 0 15 0 Western Australian .. 2 17 G IS 0 financial— Abraham and \\ illlams 12 6 — 4 Equitable Building .. 9 6 — N.Z. Guarantee Corp. (ord., Ss.) 0 in G —— Wellington Investment 0 10 5 — Wellington Deposit .. 0 9 n 0 10 4 Auckland (paid) 1 3 3 — insurance— National — 4 1 New Zealand I IS 6 1 19 South British - 19 0 —— MEAT PRESERVING- x N Z Refriuernt. (10s.) 0 6 0 — TRANSPORT— 3 Hiiddart-Uarker (ord.) b wool l.EN— Kaiapoi (contrib.) ... o Wellington (now issue) I 11 0 COALTnupiri (ord.) • •••’•.. t o 3 *— Ditto (pref.) 1 West port 1 16 0 Wai pa 0 11 6

TIMBER— Leyland-O'Brien 2 3 6 Taringamutu —• 1 8 0 - - - 0 17 0 BREWERIES— 1 17 3 1 17 9 1 [1SCE1.1. A X EO OS— Dental and Medical Sup plv 0 16 9 Electrolytic Zinc (pref.) 1 IS 9 Milburn Lime and 1 10 0 N.Z. Milk Products .. 0 0 — Wairarapn Farmers* (£5) . 4 5 0 MINING— Blackwater Mines .... —— 0 7 (5 Waihi Grand Junction — 0 2 6 0 2 4 Consolidated Goldfields 0 0 —