FARM & COMMERCIAL

Dominion, Volume 20, Issue 60, 4 December 1926, Page 12

FARM & COMMERCIAL

NEWS AND NOTES

AUCTION SALES TO-DAY. Palmerston North I.la p.m.—Sale ol jewellery (J. L. Bennett, Ltd.). MONDAY. 8 Willeston Street (Basement), 10.30 a.m. —Sale of Chairs bookcase, carpets, etc. (E. Johnston and Co.). 26 Egmont Street, 11 a.m. —Salo of machinery, etc. (E. Johntson and Co.). TUESDAY. Saleyard, Levin, 11.15 a.m.—Sale of land (Abrahaina nd Williams) Oddfellows Hall, Petone, 8 p.m.—Sale of sections, Petone B.C. Subdivision (W. Croft and Co. Kirk and Harding, J. M. Pearson, and Town Clerk). Corner Wakefield and Farish Streets, 10.30 a.m.—Sale of timber (E. Johnston and Co.). . 8 Willeston Street, 1.30 p.m.—Sale of frocks etc. (E. Johnston and Co). The Farm (Cunningham’s), 2 miles past Cheltenham store, via Feilding, 11.30 a.m.—Salo of valuable antiques Mounsey and Co.).

FARMING INTERESTS LONDON WOOL SALES NO CHANGE IN PRICES. (Rec. December 3, 5.5 n.m.) London, December 2. At the wool sales, there was an aver age selection and good general competition but prices were unchanged. Sales of New Zealand lots: Surrey Hills, 23d. per lb.; Tolmore, top price 153 d.. average 17d. The Bradford tops market is dull, but some spinners are covering current requirements. Quotations: 64’s, 45d. per lb.; 60's. 42d.; 56’s. 31d.; 50's. 25d.; 46’s. 20Jd.; 40’s, 19fd. BUTTER AND CHEESE LONDON QUOTATIONS. (Reo. December 3, b. 5 p.m.) London, December 2. The butter trade continues active. Australian choicest, 1625. to 1645. per owt.: unealted 1665.. New Zealand stored, 160 s. to 1625. The Control Board has raised the price of new supplies to 1645. to 1665. The market is practically bare of new supplies till the lonic arrives Danish, 186 s. The cheese market is firm. Australian, 90s. per cwt.; New Zealand control prices, 935. to 945. ROYAL - SIIOWPRIZES SIGNING THE CHEQUES. Dominion Special. Auckland, December 3. There was to have been a meeting of the executive of the Royal Show to-day, but on account of much of the 'cleaning up’ business not having been completed, it was decided to postpone it till next Friday This morning the managing secretary was engaged with the president of the Auckland A. and P AesoOla tion in signing the prize money cheques There were 232 of these and each sig nature had to be affixed twice. The largest individual cheques wore won by exhibitors in the pig sections. One was for £126, and another for £lO4 The larger cheque went to a pig breeder at Te Kauwhata. and the other to Cambridge. DAIRY PRODUCE MARKET Messrs. Dalgety and Co., Ltd., report having received the following cablegram from their London house, under date December 2:—“Butter market firm. New Zealand control prices for new season’s finest. 1665., first grade 1645.,- last season’s stored, 1565. to 1605.; Danish LB2s.; Australian finest unealted, 1685.. salted 160 s. to 1625. Cheese market firm New Zealand finest 945., first grade 935.; Canadian, 90s. to 965.; New Zealand last season’s, 90s. to 945.” FAIRLY RAPID RECOVERY EXPECTED. Dominion Special. Auckland, December 3. There is a possibility that Australian exports of butter may show a considerable decrease this year, owing to lack of rain Mr W Goodfellow, managing director of the New Zealand Co-operative Dairy Company who has returned from a visit to Australia., stated to-day that Queensland and New South Wales were having a bad time at present so far as butter was concerned, and really heavy rains would be required within the next few weeks to prevent a considerable de crease in exports Mr. Goodfellow added that tn consequence of ihis ho ex-cn-ed a fairly rapid recovery of the London butter market. FROZEN MEAT MARKET Messrs. Dalgety and Co.. Ltd., have received the following cablegram from their London house, under date Decern ber 2;— New Zealand Lamb.—Market dull, demand less. New Zealand Mutton.—Market weak; demand running principally on light weights. New Zealand Beef.—Market firm; demand mo<E«-ate Australian Lamb.—Market tending downwards; demand fair. Australian Mutton -Market weak; demand limited, quotations unchanged.

New Zealand Pork.—Poor demand on snot. Porkers. 103 d. to Hfd baconers. 73d. to 3d. Messrs. M. A Eliott, Ltd.. Palmerston North have received cabled advice from their London agents, of the following Smithfield prices for the week ending December 3. These prices are on the "delivered” basis, that is. including storage charges, cartage, etc. :-B st North Island prime lambs: Under 361 b.. 9Jd.; 361 b. to 421 b., Bid. : 421 b. to 501 b.. 6?d Ordinary North Island lambs: Under 521 b.. B]d.; second quality, under 421 b., 83d. Best North Island wether and/or maiden ewes- 481 b. to 561 b. 6d.: 56!h to 641 b„ 6d.; 641 b. to 721 b., 53d.: over 721 b.. 53d. Ordinary North Island wethers and/or maiden ewes: 481 b to f6lh.. 5-? d.; 561 b to 641 b.. 53d.; 641 b to 721 b., 53d.: over 721 b.. sjd. North island ewes: Under 641 b.. 3Jd.; 641 b. to 721 b., 3Jd : over 72!b„ 3:ld. New Zealand prime ox beef (noiial fores and ’’inds): 1601 b. to 22rtb.. 43d. Remarks.—Lamb, wethers, ewes, and beef, unchanged.

FEILDING STOCK SALE By Telegraph.-Press association Feilding, December 3. At the Feilding stock sale to-day a fair entry of store sheep sold well up to late rates, after good competition Fat sheep sold on a lower basis than last week, but two-tooth wethers sulil freely at higher prices. Fat shorn wethers made 17s, to 21s. 6d., fat ewes 13s. to 265., fat woolly hoggets 265. 3d. ewes and lambs 265. Id. to 325., shorn twotooth wethers 12s. Bd. to 18s 10d., shorn fair ditto 15s. 3d. to 19s. 6d. There was a small yarding of cattle. Fat cattle showed a drop in prices on last sale, and store cattle were in poor demand nearly the whole yardine being passed in. Fat Hereford bullocks realised £l2. fat Hereford cows £7 19s. 6d fat heifers £8 7s. fid., fat cows £6 15s to £7 155., light bullocks £9 10s.. forward empty eows £3 12s. to £3 17s.

STOCK SALES Messrs. Dalgety and Co.. Ltd . Masterton. report on the Pahiatua cattle sale as follows:—A good yardine of cattle was submitted to a large attendance. The condition of the bulk of the entry was not up to the usual standard, and in consequence competition for the older cattle was dull, but the den and for young steers was keen with prices on a par with recent sales The following is the range of prices at which a good clearance was effected: 4-year forward bullocks. £8 15s.- 3-year steers £6 to £7; 2-year steers. £5. £4 'Bs. £4 u s .. to £4 125.; one-year steers. £3 15s. to £3 165.; forward cows, £3 13s. to £5 55.. cull steers. 275. to £3 is.

[PALMERSTON HIDE AND SKIN SALE

Messrs. Abraham and Williams, Ltd., report ;-We held our wool skins hides, and tallow sale on Thursday, when we submitted a large catalogue to a full attendance of buyers. Competition for wool was very keen ar,J (rices realised were equal, and in some cases even bet -er, than in the large centres Sheep eekins. if anything were a ttle easier Hides of all descriptions were in good demand, at Jd to id better than last sale. Tallow sold at late 'ates Quota tions .— Wool. -Southdown, medium, 15d. to 153 d.; medium crossbred. ’2d to 123 d.; coarse. 103 d. to Hid.; lambs. Hid. to 12d.: dead, Bid. to 93d.; pieces, 73d to Hid.; locks, 4d. to 53d.; crutchings. 6d. to 7d. Sheepskins.—Crossbred, fine 12id.; medium. 103 d. to Hid.; coarse. 9Jd to IOJd.; dead. 73d. to Bd. : damaged and inferior. 6d. to Bd.; lambs, 93d.; salted pelts. 2s. 9d. to 3s. Id. each; lambs salted. 2s. to 2s. 6d. each. Hides.—Ox, heavy, 9id.; medium, Bfd.; light. 6}d. to 73d.; cow, heavy. 6?<L; medium. 63d.: light. 6d. to 63d.; cut and inferior. sd. to 63d.; yearlings and kip. 6d. to 73d. Calfskins.—Best lines, 123 d.; good, 12id. to 12Jd.; stained, lid. to Illd. • cut and inferior. 63d to 93d. Tallow.—ln casks, £32 15s. per ton; in tins. £27 to £23 ss. per ton. Horse-hair.—24d. per lb. GRAIN AND PRODUCE CANTERBURY MARKET AND CROPS By Telegraph.—press association. Christchurch, December 3. Trade talk centres round the effects of the extraordinarily prolonged spell of mid-winter weather. The country will be extremely fortunate if it escapes a serious setback to crops. Wheat is now. appearing in flower in some of the earlier districts, and the ineitable aftermath of a snowfall on the ranges is a frost, which is likely to affect crops nt the stage mentioned. On the other hand, a warm nor’-wester is ns likely to develop rust, which has already made its appearance on the heavier lands. The rough burst has . “laid" heavy oat crops and retarded the sowing of rooks, and there is a general expectation that potatoes will be affected by frosts. They are just at the stage when they can be effectively nipped back. At al) events, this possibility is not being ignored by the more venturesome of the speculative element in the trade, and quotations for forward business were somewhat freer to-da.v. Buyers were lacking last week at £3 10s. per ton trucks for AprilJune delivery, bat to-day there are plenty of buyers at that figure. The cold burst is lively to have an -dFect on ryegrass crops. Oats aro still not inquired for. Ideas for Gartons range about 3s Bd. to % tffd. f.0.b.. S.L, or 3s. to 3s. 2d. on trucks. The influx of Australian Algerians is probably the cause of the lack of northern inquiry for this class, which are not wanted at 2s. 6d. a bushel on trucks.

There is very little cocksfoot about, but very little is being asked for. Until North Island growers realise the inferiority of the imported cocksfoot compared with local the Peninsula output seems destined to shrink still further.

COMMERCIAL ITEMS WELLINGTON STOCK EXCHANGE YESTERDAY’S BUSINESS AND PRICES At the morning cal! yesterday a sale ot Bank of New Zealand rights at 6s. cd. was reported. At the afternoon call a sale of Gear Meat shares at 375. was made on ’Change, and the sales reported were Wellington Investment at 10s. 9d., and Electrolytic Zinc, ordinary, at 365. 3d. There was a poor demand for Government stocks and bonds. There were bids of £99 for the 5 per cents, and £lOO 15s. for the 51 per cents. Buyers offered £B6 for Glaxo debentures and £99 15s. for Makerua Drainage debentures. Bank shares were slow. There were bids of £7 Is. loi National Bank shares, fls. 6d. for Bank of New Zealand rights, and £l5 4s. for Union Bank. Seller,- quoted 325. 3d. for Commercial Bank, ordinary, and 60s. 9d. for Bank of New Zealand. There was no demand for financial or gas, shares. Sellers quoted £3 15s. for National Insurance, 38s. 9d. fpr New Zealand, and 575. for South Briti h. Gear Meat shares were in demand at 365. 9d., and New Zealand Shipping preference at £9. Wellington Woollen ordinary shares were on sale at £6 12s 6d., Kauri Timber at 30s. 3d. cum. dividend, Leyland-O’Brien at 425., and Taringainutu Totara at 265. National Timber shares were in demand at 14s. Brewery shares were steady, with buyers of N.Z. Breweries at 525., Staples and Co. at 375., Tui Brewery at 325., and Ward and Co. at 425. 6d. There were bids of 395. for Burns, Philp and Co., 3Gs. for Electrolytic Zinc ordinary, and 20s. for Wellington Queen's Theatre. Yesterday’s buying and selling quota-

SALES IN OTHER CENTRES BY -I'ELEGBAPH -PKIIO ASSOCIATION Christchurch, December 3. '■ales reported • Commercial Bank of Australia. 325. (two parcels); Western Ausralan Bank, 545. nil., 555„ 545. 6d : Electrolytic Zinc (ord.). 3(Js. 5d.; Kawarau, Mason. Struthers (£1 paid). 225. 3d.: National Bank of New Zealand, £7 I s * Dunedin, December 3. Sale reported: 4J per cent. Inscribed stock (11)38). AitRJ JosStock tro i, Allcldandi December 3. Sales- National Bank of Australasia. £lB 1? R<’ •' Bank of New South Wales. £44 nd •’ New Zealand Insurance. 385.: Auckland Gas, 235. I'd ; ditto (con.). 13s 3d.; Sanfordl Ltd.. 235. nd.: Taranaki OH. 10s id • Monnataiari. ss. 4d.: ditto (con.). 5s -1 5S "id., ss. 3d., ss. 2d., ss. Id., ss. 2d.. -id 5s Id.. 55., ss. Id., ss. 3d ; kawnrt, 3s -id.: Lucky Shot (con.), Is. fid: New Zeeban Consolidated, Is Id.; New Waiotahi, Is. Sd.; Oliinerauri, ss. Cd„ ss. td

WELLINGTON PUBLISHING

COMPANY ANNUAL MEETING The annual meeting of shareholders of the Wellington Publishing Company (Tub Dominion) was held at the Chamber of Commerce yesterday, Dr. G. E. Anson, chairman of directors, presiding The annual report and balance-sheet, which showed the company had had a successful year’s operations were adopted. The chairman, in the course of his remarks, referred to the great success which had attended on the company’s enterprise in arranging for the special distribution of the paper throughout the country each day by means of motor cars Country residents in many cases, he said, now received their morning paper at as early an hour as those in the city. The very large increase in the circulation of The Dominion during the past vear had been a particularly gratifying feature, the expansion being well spread over both city and country. A dividend at the rate of 7 per cent, was passed for payment. An increase in the company s capital by £50.000 was authorised. The retiring directors. Dr G. E. Anson and Mr. H. Williams were re-elected, as were also the retiring auditors, Messrs. E. W. Hunt and D. Menzies. A special vote of thanks was passed to the staff, and the directors . were thanked for their services, eulogistic reference being made to the success which had attended their efforts. Dr. Anson, who replied, made complimentary reference to the services of the managing director, Mr. C. AV. Earle. . | WELLINGTON WOOL SALE The second wool sale cf the season to be held in Wellington will begin in the Town Hall at 9 o’clock on Monday morning, when 19,481 bales will be submitted. which contrast with 25.136 bales offered at the December sale last year. The smaller quantity to be offered on Monday is due to the wet weather retarding shearing. The woo) to be offered, however, is light in grease, but well grown and of fine colour. The quantities to bo offered by the several brokers and the order of sale are as follow:— Bales. Wairarapa Farmers 1029 Abraham and Williams and Wright. Stephenson and Co. 2757 Dalgety and Co 3411 Murray. Roberts and Co. and Johnston and Co 3000 Levin and Co. 5045 N.Z. Loan and Mercantile 2480 N.Z. Farmers Distributing ... 1759 19,481 The buyers began their valuing yesterday. and brokers are optimistic in respect to clearances. It is got anticipated that values will show any appreciable change from last sale, but as the London sales appear buoyant and the coal strike is ended the tendency of the market should be towards improvement.

EXCHANGE RATES. (Rec. December 3, 5.5 p.m.) London. Deembecr 2. Foreign rates of exchange on December 2, as compared with par rates, or as averaged first half of 1914, are as follow:— Dec. 2. Nov. 29. Far. New York, dels. to £1 4.84 13-16 4.85 4.866 Montreal, dols. to £1 4.84 J 4.84 J 4.866 Paris, francs to £1 126.87 130.13 25.22 J Brussels, bclgas to £1 34.87 34.8 S — Amsterdam, florins to £1 12.12 J 12.13 12.107 Stockholm, knr. to £1 18.18 18.18 18.12 Oslo, knr. to £1 19.13 19.23 18.12 Copenhagen, knr. to £1 18.20 18.23 18.12 Berlin, Reichsmark to £1 .. 20.49 20.42 — Rome, lire to £1 113.12 113.13 25.22 Yokohama, pence to yen 24 5-16 24 5-16 21.48 Calcutta, pence to rupee 17i 1713-16 24 Hong-Kong, pence -to dollar 23i 236 24 Batavia, florins to £1 12.10 12.10} — CUSTOMS REVENUE. The Customs revenue collected at the port of Wellington yesterday totalled £6315. MELBOURNE PRODUCE MARKET. Melbourne, December 3. On the wheat market there is fair inquiry for prompt delivery at us. s}d. per bushel; January. ss. sd. Flour Old. £l4 10s.; new. £l3 10s.. cash 5s concession. Oats: Milling, 2s. lOd.; feed, 2s. 8d to 2s. Bid. Barley: English. 4s. 3d. to 4s. 4}d. Potatoes: £l5 to £l7 per ton. Onions: £8 10s. per ton. CHICAGO WHEAT QUOTATIONS Chicago, December 2. Wheat quotations; December, 1 dollar 38§ cents per bushel; May 1 • ollar 411 cents; July, 1 dollar 332 rents. TIN STOCKS IN LONDON. (Rec. December 3. 5.5 p.m.) London, December 2. Tin stocks, 14,257 tons; on spot. 410 tons; afloat, 1780 tons; deliveries, *’lo7 tons. P. AND 0. STOCK. (Rec. December 3, 5.5 ".m.) London, December 2. P.- and O. Stock, £252. PRICES OF METALS. (Rec. December 3. 9.30 p.m.) London. December 2. Copper.—On spot. £56 13s. 9d. per ton; forward delivery, £57 Bs. lid. Le,.d, £2B 12s. fid. and £29. Spelter, £33 2s. fid. and £33 Is. 3d. Tin, £313 12s. fid. and £298 17s. 6d. Silver.—Standard, 24 fl-l(Jd. per ounce; fine, 26Jd. LONDON PRODUCE MARKETS. (Rec. December 3. 8.15 r mJ London, December 2. Wheat.-Cargoes are steadily quiet owing to further weakness in New Year tonnage. Parcels are unchanged Liver pool futures: December. Its. ’?d.: March. 10s. 7jd.; May 10s. 4?d Spot trade is ouiet, and prices are easier. Flour is dull, but prices arc unchanged. Oats are easier. Peas are steady. Beans are quiet. Sugar, granulated. 335. IOJd. per cwt.

tions were as unaer:— Buyers. Sellers. N.Z GOVT. LOANS— £ s. d. £ s. d. 4J n.c. Ins. Stk., 1938 — 97 0 0 51 n.c. Bonds, 1933 .. 100 15 0 — — 5'p.c. P.O. Bonds, 1927 99 0 0 — DEBENTURESGlaxo 86 0 0 — N.Z. Breweries (bonds) —- 15 3 i’etone/Lower Hutt, 5J p.c., 1927/1952 96 0 0 Makerua .Drainage ... 99 15 0 101 0 0 BANKSCommercial of Aust. ■ I. ■ 1 12 3 National of N.Z 7 10 New Zealand (cum.) .. 3 0 9 Ditto (rights) OGG •— Union of Aust 15 4’ 0 ■ F1NANCIAI— N Z. Guarantee Corp. ■ - 0 10 5 Well. Trust, Loan .... — 6 15 0 Wellington Deposit .. —- 0 10 4 Wright, Stephenson (ord.) 14 6 Ditto (pref.) —• 0 17 0 Au"’ land (paid) 14 0 Wellington (ord.) .... —• 17 0 INSURANCE— 3 15 0 New Zealand — 1 18 9 South British »■■ 2 17 0 MEAT PRESERVING— N.Z. Refrigerating (10s.) —— 0 7 0 transport— 1 16 9 — ■ NZ. Shipping (pref.).. 9 0 0 —- WOOLLENWellington (ord.) .... ■—- 6 12 6 Ditto (new issue) .... —• 6 10 0 COAL— Walpa —— 0 15 6 TIMBER— ■ .. 1 10 3 Leyland-O'Brien .... •— 2 2 0 Tarlngamutu —— 1 0 0 0 14 0 0 18 0 BREW ERIES— Manning and Co — 110 New Zealand 2 12 0 a—• Staples and Co 1 17 0 1 18 3 1 12 0 . ... Ward and Co 2 2 G •— MISCEL' ANElH'i— Burns. Philp, and Co. 1 19 0 •w Electrolytic Zinc (ord.) 1 1G 0 1 16 9 Ditto (pref.) — 1 17 9 Howard Smith ........ 1 12 0 Wellington Queens Theatre 10 0 MINING— Blackwater Mines ... 0 5 6 Mount Lyell (cum.) .. — 19 4