FARM & COMMERCIAL

Dominion, Volume 20, Issue 61, 6 December 1926, Page 14

FARM & COMMERCIAL

NEWS AND NOTES

AUCTION SALES, TO-DAY. 8 Willeston Street (Basement), 10.30 a.m. —Sale of Chairs, bookcase, carpets, etc. (E. Johnston and Co.). 26 Egmont Street, 11 a.m.—Sale of machinery, etc. (E. Johnston and Co.). TO-MORROW. Saleyard, Levin, 11.15 a.m.—Sale of land (Abraham and 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 Parish Streets, 10.30 a.m. —Sale of timber (E. Johnston and Co.). 8 Willeston Street, 1.30 p.m.—Sale ot frocks etc. (E. Johnston and Co). The Farm (Cunningham’s). 2 miles past Cheltenham store, via Feilding, 11.30 a.m.—Sale of valuable antiques Mounsey nod Co.). WEDNESDAY. Abraham and Williams. Ltd.’s offices; Mangaweka—Sale of land, Wanganui (Abraham and Williams, Ltd.). Coull’s Salerooms, Maria Place, Wanganui, freehold business block (John 154 Street, 2.30 p.in.-Salc of seaside sections, Moa 1 oint instate, Lyall Bav E. (J. H. Bethune). Saleyards, Taihape, 12.45 P-m.-Sale of land (Dalgety and Co., M?-)- . Johnsonville, 10 a.m.-Stock (Abinham and Williams, and Wright, Stephenson, and Co.). FARMING INTERESTS FARMERS’ UNION SOUTHERN PEOVINOIAL The first meeting ot the special sub; committee, appointed by the Farmers Union executive, in the interests of srtine-husbandry, was held recently. There were present: Messrs. A. McLean, A. O. Menefy, L. T. Rice F. Stewart, and C. D. Blakiston. Mr. A. McLean was elected chairman, and Mr. C. D. Blakiston bon. secretary. . . , • This committee was appointed in respouse to an appeal by the Southern Hawke’s Bay Pis Breeders Association to the Farmers' Union, to take over their objective, namely, the encouragement and improvement of tho pig industry in this district. Members present expressed their appreciation of tho action of the Farmers’ Union, and a vote of thanks was passed accordingly. It was decided to request the judge of the pig classes at the forthcomingshow to give a demonstration after the judging, and also to ask Mr. Gornnge. Government instructor in swine-bus* bandry, to give a lecture on the same afternoon. Donations to the amount of £5 ss. were passed by the chairman, including amounts from two anonymous donors, and it was left in the hands of the chairman and secretary to submit plans for the allocation of same. DAIRY PRODUCE MARKET Messrs. A. H. Turnbull and Co. have received a cablegram from Messrs. W. Weddel and Co., Ltd., dated London. December 3, reading as follows (the previous week's prices are In parentheses):—Danish butter, 182 s. (170 s. to 1725.); New Zealand salted butter, 160 s. to 1665. (1465. to 158 s.): market firm. New Zealand cheese, white and coloured. 935. to 945. (84s. to 865.); market firm; Canadian cheese, white and coloured ,925. to 965. (86s. to 88s.>.

CHILLED AND FROZEN BEEF LONDON QUOTATIONS. (Rec. December 5, 5.5 n.m.) London, December 4. Sheep. Canterbury, light 6d. per lb., medium 5Jd., heavy s*d. North Island, light s§d„ heavy sgd. Argentine, light sd. Lambs, Other sclecteds. light, none offering. Australian, firsts 8 7-16 d., others 8 3-16 d. Seconds, Victorian BJd.. others Bd. Thirds, Bd. Argentine, seconds 7Jd. Chilled Beef, Argentine, fores, 4d. Other meats are unchanged. Messrs. Levin and Co., Ltd., have received tile following cablegram from th >ir Louacu agents, dated December 3: — Ths market fo> lamb is quiet, with prices unchanged The market for wethers is weaker, and the demand is poor. Tho Loan and Mercantile Agency Co., Ltd., have received the following cablegram from their London house, under date December 3: —New Zealand frozen lamb. 9id. per lb. average; muttonwether and maiden ewe, light Sid. per lb., heavy si; owe, light 4d., heavy 3Jd.; market slow. SMHHIJELD QUOTATIONS. The New Zealand Meat Producers’ Board lias received the following cablegram from its London office, dated December 3. advising Smithfield delivered prices at thu- date as follows (prices tor the two previous weeks are shown in parentheses):— New Zealand Wethers and Maidens.Oaiittibury quality, selected brands: 561 b. and under. 6d. T>or lb. (6Jd., 6Jd.); 571 b. to 641 b.. 53d. (5?d., 5Jd.); 651 b. to 721 b.. SJ<L (63d., 53d.;. Other brands. 661 b. and under, sgd. (55d., 53d.); 571 b. to 641 b., 5Jd. (54d.. sid.i; 651 b. to 721 b.. sgd. (5Jd.. 6Jd.). New Zealand Ewes—64lb. and under, 3Jd. (33d.. 33d.). New Zealand Lambs.-Canterbury quality: 361 b. ai’d under, IOJd. (IOJd.. lOJd.); 371 b. to 421 b., 91d. <9id.. 93d.); 431 b. to 501 b.. 7Ri. <7jd., 7jd.).; seconds, 83d. (83d.. 9d.). Selected brands: 361 b. and under, not quoted (9id.. 9?d.); 371 b. to 421 b., B§d. (83d.. Bgd.) Other brands, first quality: 421 b., and under, not quoted: seconds, not quoted. New Zealand Beef.—Ox fores, 3id. (3Jd„ 3Jd.l; ox hinds. 4d. (4d.: 4Jd.); cow fores and hinds, not quoted. „ . Argentine Chilled Beef. —Ox fores, 4d. (3*d .' 3Jd.; ; oX' hinds', ‘ 53d. (53d., 5d.). Argentine Fioz.cn Beef.—Ox fores ano and binds, not quoted. Fror.cn Pork. ■ 801 b. to 1201 b., XOd. (10d„ IQ.UL): 120D>. to 1801 b.. Bd. (Bd.. 9d.). Frozen Veal.- Not quotedLamb- Market is steady. Mutton: Market quiet Beef. Nominal prices. SHIPMENTS FROM SOUTH AMERICA. The New eZalaud Meat Producers’ Board has received a cablegram from its representative at Buenos Aires, South America, advising the following shipments to the United Kingdom for the fortnight ended November 25, from Argentine and Uruguay: 224,643 quarters chilled beef: 7300 quarters ftozen beef; 28,400 carcasses frozen mutton; 99,488 carcasses frozen lamb. Th quantity shipped to the Continent of Europe during the same period totalled ■ 126,900 quarters frozen beef: 9274 carcasses frozen mutton. LONDON WOOL SALES GOOD COMPETITION. (Rec. December 5, 5.5 p.m.) London, December 4. At the: wool sales there was a good selection of merinos and slipes, and a small offering of greasy crossbreds. There was good competition, and prices were on a parity with the highest point of the series. Messrs. Murray, Roberts and Co., Ltd., are in receipt of the following wool market cablegram from their London agents, dated December 3:—Greasy merino, best descriptions, market firm; other descriptions, market irregular; scoured merino, best descriptions advanced 5 per cent.; crossbred greasy, market firm. Messrs. Dalgety and Co., Ltd., report having received the following cablegram from their London house, under date December 3: —Wool, sales -continue firm and active; prices show hardening tendency except short an(l wasty merino. Greasy fine crossbred and scoured crossbred. generally same prices.as last sale; slipe. id. lower, except short and faulty lambs, which are Id. lower, as compared with last sale; crossbred and merino lambs, good demand. LONDON HIDE SALES (Rec. December 5, 5.5 p.m.) London, December 4.. The bides market- is active. Home and Continental demand is brisk, except from France and Belgium, which are handicapped by exchange. Dry suited, meatworks, Queensland, 351 b. to 451 b.. 9Jd. per lb.- 301 b. to 401 b.. Did.; 251 b. to 351 b., 9d.; 201 b. to 301 b., DJd. New South Wales, none offering. Wet-salted, meatworks, Queensland: 501 b. to 601 b.. 73d., 401 b. to 50Ib„ 7Jd. New South Wales: 501 b. to 601 b„ 73d.: 401 b. to 50 lb.. 7§d.. Victorian abattoirs: 501 b. to 601 b., 7{d.; 401 b. to 501 b., 7id. WESTFIELD FAT STOCK MARKET Messrs. Dalgety and 'Co., Ltd., report having held their weekly sale of fat stock al Westfield on December 1, as under... Beef.—A fair yarding, last week’s values being sustained for all classes. A consignment of well-finished bullocks, from Matamata, on account of Mr. Short, topped the market, selling up to £l4, and a consignment on account of Mr. J. Hutchinson, Te Awamutu, sold at £l2 10s. to. £l3 10s. Extra choice ox sold at 325. per 1001 b.; choice and prime, 28s. to 315.; just killable, 255. to 275.; prime young cow and heifer beef, 285.; just killable, 20s. to 265. Sheep—Au average yarding, values being firmer for all classes. Extra heavy prime wethers, shorn, made 275. 6d.; heavy prime, 245. to 255. 3d.; medium, 225. to 235. 6d.; light and unfinished. 16s. to 18s.; heavy prime ewes, 21s. 6d.; lighter, 16b. to 18s.; other ewes, 13s. to 15s. Lambs.—A fair yarding,, prices being very firm. Heavy prime lamb made 245. to 255.; medium, 19s. to 225. 6d.; light, 15s. to 17s. 6d. Calves.—Aii average yarding, prices being slightly better. Runners made £3 16s. to £5; heavy vealers, £2 10s. to £4 10s.; medium, £3 2s. to £3 10s.; light, £2 12s. to £2 18s. Pigs—A fair yarding, there being littih or no change in values. Choppers made £3 to £4 55.; heavy baconers, £3 16s. to £4; medium baconers. £3 12s. to £3 155.; light baconers, £3 2s. to £3 Bs.: heavy porkers. £3; medium porkers, £2 14s. to £2 175.; light, porkers, £2 6s. to £2 10s. WHOLESALE PRODUCE PRICES Messrs. Laery and Co., Ltd., report wholesale values as follow:—Mixed fowl feed. 6-sack lots or over 6s. 6d.. lesser lots 6s. 9d. bushel; linseed meal, 165.; linseed nuts, 14eu 1001 b. bag; whole linseed. 20s. 6d.; oyster shell grit, 5-saok lots or over 55.. lesser lots sb. 6d. 1001 b.; ini shell grit. 5-sack lots or over 55., lesser lots sb. 6d. 1001 b.; oats, machine dressed seed Algerians 6s. Id.. 6s. 3<L, Duns 6s. 3d. feed 4s. (d„ crushed 6b. 6d„ black oats 5s- 6d. bushel, sacks in. Algerians, 4s. 9d.; shelled cats, for chicks. 6s. 3d. bushel; South African maize, whole 7s. 3d.. crushed 7e. 9d. bushel: barley, feed. ss. 6d.; wheat, Australian milling. 7s. 9d.; Canadian wheat, 7s. 9d., sacks in: wheatmeal, feed, ton lots. £l6. undergrade Gartons, for pig teed. 3s. lid bushel in 10-saok lots; rye orn, 10-sack lots or over 6s. 7d.. lessor lots 6s. 9d. bushel; rye corn, for pig feed 5s bushel: butter, prime farmers separator, lid lb. dairy bulk and pats lid to Is. Ib.; turkeys. Is. 2d. to Is. 3d. lb.; eggs, first grade new laid 2s. 2d. to 2b 3d. dozen storekeepers' 2s. Id.; ducks, runners, young. 10a to 125., largo whites 14s. to 155., old 9s. pair; fowls, white Leghorns

6s. to Bs., black Orpingtons and . similar heavy varieties 10s. to 12b.; fungus, New Zealand. 9d. to lOd. lb.; > costers, white Leghorns, Bs. to 9s. pair; dressed pork, 6O'e to 90s, Bd. to 9d. lb. : sucking pigs, Bld. to 94d. lb.; honey discoloured:, in 601 b. tins. sd. lb.; siierosine. half-ton lots or over £l2 10s„ lesser lots 135.; rock salt. 6s. bag.; molasses, in casks 40s. each, in cases Ba. 6,1.. Blenheim chaff, ton lots, prime £lO 155., good heavy £9 to £lO ton; basic slag £5 ton; Chinese peanuts in shell, sack lots, 4fd. lb.: Java shelled peanuts, sack lots. 4Jd lb.: superphosphates. £5 16s. ton f.o.r. New Plymouth, less discounts: bran, half-ron lots or over £9 ton. lesser lots 9s. 6d.; nollard half-ton lots or over £ll ton, lesßer lots Ils. fid.; chick raiser, coarse. 21s. 'oolb. bag; pigmeal. £ll 15s. ton for ton lots, lesser lots 10s. 1001 b.; poultry spice cases con tabling about 40 packets £3 10s. case, lesser lots 2s. 6d. packet; black leaf 40 spray, 21b. tins 135., 101 b. tins 50s. each net; potatoes. Dakotas, ton lots Canter-bury-grown. £6 to £6 10s ton- seeds, white clover Is. 9d., cowgrass Is. fid., cocksfoot Is. 4d. Ib., Italian rye 75., perennial Bs., Western Wolths 7e. bushel; potatoes for pigs or poultry 4s. sack; new potatoes, 12s. to 14s. per cwt. COMMERCIAL ITEMS WELLINGTON STOCK EXCHANGE LAST WEEK’S BUSINESS AND PRICES The turnover in stocks ar.d shares last week was as large as could be expected, for in the closing month 01 die year a slack tone is invariably experienced, Good business was done in bank shares at full rates. Bank of Australasia sold at .£l4 2s. Cd., National Bank of New Zealand at £7 Is, and £7 Is. 6d., Bank of New Zealand at 60s. 3d. and 60s. Cd„ Bank of New Zealand Rights at 6s. 7d., Bank of New South Wales at £45 7s. 6d., Union Bank at £l5 4s. and £l5 55.; Commercial Bank of Australia, ordinary, at 325.; Western Australian Bank at 545. 6d. and 555., and National Bank of Australasia, £lO paid, at £lB and £lB Is. 6d. There was little trading in Government stocks and bonds. Business was done in the 41 per cents, at £'96 17s. 6d., and the 5l- per cents, at £lOl. On Saturday the 5 per. cents, were in demand at £9. There were some sales of local bodies’ debentures. Transfers jvere registered of Auckland Harbour Board 52 per cent, at £lOl, Wanganui Borough 5J per cent, at £95 10s., and Invercargill Borough 6 per cent, (1931) at £lOO 10s. N;Z. Breweries, 10 per cent, bonds, changed hands at 255. and 245. lid. There was little done in financial shares. N.Z. Guarantee Corporation, ordinary ;-sold-at-10s.--3d. and 10s,-5d., and Wellington Investment at 10s. 9d. At the week-end there were buyers of Equitable Building at £9 2s. Gd., and Metropolitan Building at £l3. A few transactions in gas shares were registered, Auckland Gas shares changing hands at 235. 9d., and Christchurch Gas at 245. On Saturday the latter were in demand at 245. 3d., and Wellington Gas ordinary at 265., Meat shares were very dull, but two parcels of Gear Meat shares changed hands at 375. A moderate business was done in insurance shares, with sales of New Zealand Insurance at 385., and South British at 565. 3d. Shipping shares were dull still there was a fair demand for Now. Zealand preference at £9, and Union Steam preference at 20s. 3d., cum. dividend. Kelburno Train shares were in demand on Saturday at 265. lid. Coal shares were very slow, and the only transaction recorded during the week was a sale of Taupiri Coal at 21s. 9d. Timber shares were very much neglected. Brewery shares were in good demand, but business was restricted to Staples and Co., brewery shares, at 375. 6d. antk 375. 7d. In Ute miscellaneous section the sales registered were: Dominion Rubber at 495.. Electrolytic Zinc, ordinary, at 365. 3d., Taranaki Oil at 10s. 4d and 10s. Id., and Wilson’s Cement at 33s Cd. Saturday’s buying and selling quotations were as under:—

’ The Customs revenue collected at the port of Wellington on Saturday totalled £3695. SALES IN OTHER CENTRES BY TELEGBAPH.—PRESS ASSOCIATION. Auckland, December 5. Sales: Inscribed Stock (1936), 54 per cent., £101; Western Australian Bank, 51s. f)d.; Auckland Gas, 235. 9d.; Wilson’s Cement, 335. 6d.; Alburnia, 3s. 9d.; Moanataiari contributing issue, ss. 3d.; T,uckv Shot, Is. 7d. " 3 Christchurch, December 5. Sales: Christchurch Gas, 245. 9d.; National Insurance, 735. 6d. . . teiles reported: Western Australian Bank, 54s- 6d.; Bank of N.Z., rights, 6s. Bd. ’ • TARANAKI OILFIELDS, LTD. Drilling for oil is much more uncertain than gold mining, and there are manv disappointments. The report of the directors of Taranaki Oil Fields for the vear ended July 31 last, emphasises tlifs 5 Two wells drilled at Tarata and Moturoa were abandoned owing to lack <>; encouraging indications and for the same reason No. 1 well m the Waiapu County was abandoned. It 1« said that these disappointments do not, in the oninion of the technical officers carry with them any general condemnation of the extensive Areas covered by the comnany’s oil rights which have not vet been tested by the drill. Another well a little to tho south of Tokomaru Bay is <o ho drilled, on the recommendation of ihn ecologist, who says it is a. good structure and he had no hesitation in recommending a bore on it. With respect to the prospects the director’ snv that according to the nature of tho industry no prophecy can be

offered, but the directors are unanimous in believing that the wider experience and more detailed knowledge gained justify a continuance of their confidence in the outlook. Tho technical officers experienced in oil fields abroad declare I heir confidence in the future of the field, and these expressions are based on the recognition of geological features which (particularly in America) accompany successful production. That is to say, the New Zealand properties do nd present new and unexpected features which have to be interpreted in a theoretical way; on the contrary, there are abundant, data and experience from the exploitation of similar counti-y overseas to guide the field staff in their interpretations. The shares of the company, which are £1 paid up, sold during the past week at l()s. 4d.

THE WHEAT MARKETS. London, December 3. Wheat cargoes are slow. They arc steadier ou a better American tone, and teillisli as a result of Argentine weather reports. Parcels are in mo 'crate request at 3d. to 9d. per quarter advance. Ex Oronsay, 575. a quarter. ~, I Liverpool futures: December, 11b. 4Jd. per bushel; March, 10s. ?d.; May, 10b. sid- , Chicago, December 3. Wheat quotations: December 1 dollar 38 1-3 cents per bushel; May, 1 dollar 408 cents; July, 1 dollar 322 cents. (Itec. December 5, 5.5 p.m.) New York, December 4. Chicago wheat quotations: December. 1 dollar 39S cents; May. 1 dollar 411 cents; July. 1 dollar 332 cents, 1 dollar 398 cents, 1 dollar 41 cents, 1 dollar 332 cents. PRICES OF RAW MATERIALS. (Rec December 6, 5.5 p.m.) London, December 4. Cotton.—Liverpool quotation for American upland middling cotton, January shipment. 6.34 d. per Ib. Rubber.—Fine hard Para, 17id. per lb.; plantation first latex crepe, 18Jd. Jute.—December-January shipment. £29 10s. per ton. Hemp.—New eZaland, October-December shipment, £3B 10s. per ton. Copra.—December-January shipment, £24 15s. per ton. Linseed oil. £3l 15b. per ton. Turpentine. 625. 9d. per cwt. BIMU GOLD DEEDGE. BY TELEGRAPH.—PRESS ASSOCIATION. Hokitika, December 4. The gold dredge at Bimu Flats washed up for a fortnight’s work nearly 900 ounces, making approximately 1400 ounces for the mouth.

Buyers. Sellers. N.Z. GOVT. LOANS— £ S. d. £ s. d. ■1} P.O. Ins. Stk., 1938 •.. 06 17 6 51 p.c. Bonds, 1933 .. 100 15 0 5 p.c. P.O. Bonds, 1927 99 0 0 — DEBENTURES— N.Z. Breweries (bonds) 1 4 3 Wellington City (street 100 15 loan), 5} p.c., 1932 .. 0 BANKS— Commercial of Aust. 1 12 (ord.) 0 Commercial of Sydney 26 10 0 English. Scottish, and Australian — 8 3 0 National of N.Z 7 1 0 New Zealand — 2 19 9 Ditto (rights) 0 6 6 — Union of Australia .. 15 4 0 15 6 0 FINANCIAL— Abraham and Williams (ord.) —• 4 2 0 Kquitablc Building .. 9 Metropolitan Permanent 2 6 Building 13 0 0 — N.Z. Guarantee Corp. 0 10 (ord.) 0 8 9 3 N.Z. Investment, Mortg. 0 9 3 —— Wellington Investment 0 10 0 ■4 Wellington Deposit — 0 10 Wright; • Stephenson (ord.) 1 4 0 Ditto (pref.) —- 0 17 0 GAS— Christchurch . I 4 3 0 Wellington (ord.) .... 1 6 0 1 7 Ashburton .... — 5 0 0 TRANSPORT— .1 Union Steam (pref.).. 0 3 Kelburne Tram (ord.) 1 6 11 — WOOLLEN— 6 12 Wellington (ord.) .... —1 l» 6 Ditto (new issue) .... —•■ 6 10 0 COAL— 1 16 Westport 0 Waipa TIMBER— •M0 15 6 Taringamutu •— 1 6 0 National 0 14 0 breweries— New Zealand ». 2 12 0 — Ward and Co. ....... 2 2 6 MISCELLANEOUS— Burns, Philp, and Co. 1 19 0 — 9 Electrolytic Zinc (ord.) 1 16 Ditto (pref.) —— 1 17 6 Howard Smith 1 12 6 Scoullar Co 1 2 9 Sharland and Co. (ord. and pref.) 1 2 C Wairarapa Farmers’ (£5) —— 4 0 0 Ditto (pref.) ......... 0 14 9 0 16 0 Wellington Queen’s Theatre 1 0 0 MINING— BlackwaU-’ ... 4 j » 1 • 2,11 ♦ tf