FARM & COMMERCIAL

Dominion, Volume 20, Issue 100, 22 January 1927, Page 12

FARM & COMMERCIAL

NEWS AND NOTES

AUCTION SALES MONDAY. It Brandon Street. 2.3(1 p. in. — Sale of land. Unit district <IL E. Leighton). Merton Road. Tn til liain, 11 a.m.—Sale of racing establishment (Harcourt and Co.). FARMING INTERESTS LONDON WOOL SALES LATE PRICES VERY FIRM BY IiiLECBAI’H I’KESS ASSO.IIA 1 ItJ.V CUl'Vli.li.l' London, January 2<). At the wool sales prices were veiy firm at full late fates, with a splendid selection of greasy crossbreds and a good lot of greasv and scoured Merinos. Sales of New Zealand: “Upon,” highest price. 15'd., average 14|(1.; Moko, 221 d., and 211(1. The Bradford tops market is firm, with very little business. Messrs. Murray, Roberts and Co.. Ltd., are in receipt of'the following wool market quotation from their London agents: 56’s yielding 60 per cent.. ■ peeing, present'series 22(1.; closing November-Decem-ber series.2lJd.. M's yielding 65 per cent, l&d.: (17R1.). 44 to 4c’s preparing yielding 74 per cent., 14(1.: ",14d.). 44 to 46's carding yielding 72 per cent., 13Jd.: (13>(L). 40 to 44's yielding 73 ner '-ent.. 13d.; (13d.).

FRUIT, FOR EXPORT FIRST SHIPMENTS OF APPLES SPACE ALLOTMENTS The first, shipment of the new season's appks lor Britain will leaie Wellington early next month and will bo followed by other consignments at. close intervals. The total number of cases looked Io be shipped up to Match 13 is 172.500. Mr. H. E. Napier, secretary of I lie New Zealand Fruit Export Control Board, informed a Dominion represendative vesferdav that the following allotment's of shipping space < overingt the period up io the middle of March, had

HIDE AND SKIN SALES BROKERS’ REPORTS. The fortnighllv sales of sheepskins, hides and tallow' were held yesterday by the various brokers. A moderate sized catalogue of all classes was effered to a representative attendance of buyers. There was a keen demand for dry. sheepskins, and prices generally were {<l. to Jd. better than late rates. Fine. wools coming in for special attention. Salteds sold on a par with previous quotations 'There was good inquiry for all descriptions of hides. Well prepared parcels were keenly sought alter and values tor heavies, mediums and light-weights were par to 4'l. better than last sale’s rates. Kip and yearling sold well end may be quoted 'par to |d. better, while calf showed an advance of Rl. to Id. pe« lb. Good shipping’' parcels of fallow were in request, prices showing a decline of Is. per cwt. The followin'.' is the range of prices.— Sheepskins: Jlaltbred 91d. Io i2jd.; fine, crossbred, Ifkl. Io I2'd.; medium to coarse crossbred, fid. io lid.; short to half-wools. ,£d. to lljd.; lambs, !)(d. to 10!d.; dead and damaged crossbred, Rd. Io fl-'.il.; inferior and badly damagod, Id. to CJd.; pells. 5.L1. to BJd.; damp, salted apd green, (is. Io Ils. ifid.; pells, salted. 2s. to 2s. ltd.; lambs, salted, 2s. lid. tp 3s. lid. Hides: Ox. extra Leavy, "Ollis, and over, 9d. to !>}<!.; ex, heavy, 591 b. to G9lb„ 7Jd. to fid.: ox. medium, 531 b. to sSlh., 6!d. to Shi.; ox, light, 4.51 b. to 521 b.. 7Jd. to 71d.: cut, slippy and inferior. G|d. to Slil.; cow, hc.iv.v, 531 b. and over, 7d. to "jd.: cow. medium, 451 b. to 5211 i., 71d. to cow, light, 331 b. to -t-tlb., fi'd. to 71-d.; eul. slippy and inferior, -I’-d. to GJd.: bull, stag, not quoted; yearlings, 111 b. to Itilb., not quoted; yearlings. 171 b. to 321 b., 4<l. to 7;d.; calf, superior, up Io 11,'1b.. 12Jd.; calf, medium to good, up to Illlb., Bd. to 12jd.; calf, damaged, up to Illlb., 2d. to 9RI. Tallow: Tn casks, 275. fid. to 305.; in tins, etc., Ifis. Io 28s. fid. Sundries: .Horsehair, 19d.; cow tails, 13d. WHOLESALE PRODUCE PRICES Messrs. Laery and Co., Ltd.. report wholesale values as follow:—Mixed fowl feed. 5 sacks or over 6s. cd, lesser lots 6b. 9d. per bushel; linseed meal. 16s. per lOClb. bag; linseed nuts, 14s. per 1001 b. bag; whole linseed. 19s. 6d. per cwt.: oyster shell grit, 5 sucks or over os., lesser lots ss. 6d. per ICOIb. bag: pipi shell grit, 5 sack lots or over ss„ lesser lots ss. 6d. per 1001 b. bag; wheat. Australian prime milling to arrive 7b. 2d.; oats, machine dressed seed Algerians 65.. 6s. Id.. Algerians 4s. 6d.. feed Gartons 4s. Id.. B Gartons 4s. _2d., crushed 4s. 7d.. Duns ss. 3d to 6s. 3d.; shelled oats for chicks, 6s. 3d. to 6s. 6<1.; N.Z. maize, whole Bs. -9d.. crushed 9s. 3d. per bushel; barley, feed ss. 6(1.: wheatmeal. feed ton lots £l5 10s. per ton: rye corn. 10 sack lots or over 6s. 6d., lesser lots 6s. &d.; rve corn, undergrade for pig feed ss. per bushel; butter, prime farmers’ separator and dairy bulk and pats 11d. to Is. pec lb.: turkeys. Is. 3d. to Is. 4d. per lb; eggs, firsts grade new laid Is. ICd. to Is. 11(1. per dozen. Storekeepers Is. 9d. to Is. It'd, per dozen; ducks, runners young Bs. to 95.. large white 10s. to 135.. old 6s. 6d. to Bb. a pair; fowls, white leghorns sb. to sa. 6d., Black Orpingtons and similar heavy varieties 6s. 6d. to 95.; fungus. N.Z. lid pec lb.; dressed pork, 60’s to 90>, Bd. to 9d. per ib.: sucking pigs. 84d. to 9KI. per lb.: sueroeine. ?, ton lots or over “£l2. lesser lots 12s. 6d.; maize meal. 10s. ner bushel; chavoal. 14s. 9d. per 501 b. bhg.; reck salt. 6s. per hag; molasses, in casks 40=. each, in cases Bs. 6d.; Blenheim chaff, ton lots prime £lO 10s. per ton. good heavv £8 to £9 per ton; basic slag, £5 per ton; Chinese peanuts in shell, djd. per lb. sack lots: Java shelled peanuts, 4.1 d. per Ib. sack lots; superphosphates. £5 16s. pec ton f.o.r. New Plymouth. less discounts; barley meal, 12s. per tCOlb. bag: bran, j-ten lota or over £9 per ton, lesser lots 9s. 6d; pollard. R ton lots or over £l.l per ton, lesser lots tls. frtl.: pigmeal. £ll 15e. per -on for ton lots, lesser lots 1.25. per 1001 b. bug; Morcg poultry spice, eases containing about 40 packets £3 10s.; ease lesser lots 2s. 6d. per packet; black leaf 40inch. spray. 21b. tins 135.. 101 b. tins oCs. each nett; seeds, white clover Is. 9d. per lb., eowgrass Is. 6d. per lb.: Danish cocksfoot lid. per b.; Italian live 7s. per bushel; perennial 6s. per bushel. AVestern woltbs 7s. per bushel; new potatoes, 6s. 6d. to 10s. per cwt. WOODVILLE SHOW Very satisfactory entries have been received for this year’s Woodville Show. Horse leaping compel it ions, dog trials, hacks, ponies, Jersey and dairy cattle classes have received excellent support, and with entries still coming to hand, which the secretary is prepared to receive for a few days without extra charge, a record entry is assured. DAIRY PRODUCE MARKET Messrs. Dalgety and Company Ltd., lejiort having received the following cablegram from their London house, under date January 20: Butter.—Market very quiet, inquiries Pmited to cheaper descriptions. Slocks accumulating, finest Australian and New Zealand. We quote Danish: 1745. Io 17fis. (1785.>; New Zealand finest, 1745. ‘1745.1; New Zealand first grade, J72s. 11725.)- Australian finest unsailed, 1725. •o 1745. (1765.); salted. Kilis, io 170 s. (]6Bs. Io 1725.). Cheese. —Market quiet. We quote New Zealand finest white, 945. (945.); coloured, 955. (955.); Now Zealand first glade white. 935. (935.); coloured, 945. (945.); spot price for Canadian white and coloured. 925. to 98s. (925 ; to 985.) (Last week's quotations shown tn parentheses). ‘

DAIRY RESEARCH ATTI'I'CDE OF CONTROL HOARD. At the meeting of the Dairy Produce export. Control Hoard cn Wednesday Mr. G. Shirtclifte (cliairmani. Dr. Marsden and Mr 11. Viekeriuan of the Scientific Itcsea’reh Council, waited on the Hoard m nrellmlnarv discussion as to the measures of research most vital 1o the dairy industry “Mr Shirtcliffc stressed the desire of the council to secure the good-will and cooperation of the industry. i)r. Marsden invited the Hoard to aaajjaato a committ'.c of tlnec to connectwith the council on principles and pro1n" iiseussicn. disappointment was excressed at 1 lie very unsatisfactory delays b.-ing encountered in securing action tn relit’oii n» urgently needed research. In Taranaki ami the Waikato the industry itself had had to undertake certain work, but ma lor research work needed to be done and action should be taken. \ committee consisting of idcs&rs. winks, Goodfellow and the chairman was ap pointed to consult with the Scientific liesearch Council as requested. STOCK SALES Messrs. Dalgety and Co., Ltd.. Masterton, report on the Masterton sale as follows:— A good yarding ol sheep and a small entry of cattle were submitted to a large attendance of buyers. Included in the entry were several lines ot good black face ranc lambs, which met with very keen competition and realised < xtre.ne prices An exceptionally good line of ..-tooth wethers offered on account of Mr. T. W. Parrv, of Mt. Bruce, realised 225. I'ollowine is the range of prices:--'1 wo-tooth withers 225., 29% to 19s. lOd.; b.f. 2-tooths 23- • 2-tooth owes 20s. 9d.; b.f. rape lambs 21s. Id. to 21.“. 6d.; 3-yr. steers £6 19=.; forward cows £5 7s. to £3. Dalgetv and Co., Ltd.. Masterton. report on the Carterton sale as follows: A good yarding of pigs and a small c ’Vry of “heep were submitted to the usual attendance of buyers. Competition tor sheep was keen, while the demand ‘or pigs was not up to that- of recent sales. Following is the range of prices; 3-tooth ewes Ms. 6d- 2-tooth wethers. 19a. Bd.; weaner pigs, Ils'., 15s. to 215.; store pigs. 275. 6(1., 345. 6d. to 365.; porkers, 375. 6d.; brood sow, £3. COMMERCIAL ITEMS WELLINGTON STOCK EXCHANGE YESTERDAY’S BUSINESS AND PRICES At the afternoon call yesterday sales were reported of Union Bank shares at £l5 10s. fid. and Electrolytic Zinc preference at 375. lid. cum dividend. There was a moderate demand for Government stocks and bonds, with buyers of the 5j per cents, at £lOl. Wellington Racing Club debentures were firm al £ICG. There was a fair demand tor bank shares, with bids of £l4 2s. for Dank of Australasia, 335. for Commercial Bank, £7 Is. fid. for National Bank, a rise of fid., 58s. 9d. for Bank of New Zealand, and £l5 9s- fid. for Union Bank, a rise of Is. Goldsbrotigli, Mort and Co.'s shares wore in demand at -19 s. 9(1., and New Zealand Guarantee Corporation ordinary at 10s. fid. Tbero were buyers of Gisborne Gas at 10s. fid., and Wellington Gas ordinary at 265. 3d., New Zealand Refrigerating 20s. paid at Ils. 9d„ 10s. paid at ss. 9d., Union Steam preference at 205.. and Kaiapoi Woollen ordinary at 9s. 9d. Brewery shares were dull, and the demand was confined to Staples and .Co, at 38s. 9d. In the miscellaneous section there were buyers of C. M. Banks at 225. fid., Electrolytic Zinc ordinary at 3lis. Cd. cum dividend, Howard Smith at 325. fid., Milburn Lime rights at 3s. th!., New Zealand Milk Broducls at 21s. 9d.. Dominion Investments at 215., and Wilson's Cement at 345. 9d.

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

SALES IN OTHER CENTRES BY TEbEGBAPH. —PRESS ASSOCIATION

Auckland, January 21. Sales—National Bank of New Zealand, £7 2s. 6d.; Auckland Gas, 235. 10d.; ditto Con.. 155.; Devonport Ferry, 255.; Albiir-ni-i 3s fl d-. 5». 7d.: Moanataiari Con., 4s. 4d'-' Golden Ace Con.. 3d.: Kawarau, 45., 3s lid.". 3s. 10(1.: Obineinnri, 5». lOd. Dunedin, January St. Sales.—P- and 0. deferred stock. £245 (odd parcel); Staples Brewery, 395. 6d.; Kawarau, 3s. 9d. (four), 3s. 10(1.; New Zealand Befrigerating (cont.). 65.; Milburn Lime and Cement Co. (rights! ss. (three); Auckland Amusements Park (cont.) 6s. '’sales reported.—sj ner cent. Soldiers’ Inscribed (1933), £101; Smith and Smith. Ils. 9d. s. Christohuroh, . anvary 21. Sales reported.—Huddard Parker. 47 s. 9d.; Western Australian Bank. 545. 6r1.; National Insurance. 745. (3 parcels): Ashburlan Gas. €5 (3 narcelt); Natior.nl Bank n" New Zealand. £7 2s. (2 parcels': New Zoplnnd fnsnrnpce (cum. div.), 375. Ad.; Burns Philp. 40“. 9d. Sales.—National Bank of New Zealand, c? 95. : Bank of New Zealand. 595. ?.d.: Electrolvlic zinc (pref. cum. div.) X7s. 3d.. 575. sd. (2 parcels). MELBOURNE PRODUCE MARKET. Melbourne, January 21. Wheat: ss. 3(1. per bushel; Flour: Old £ll 10 s -; ne'v. £l3 per ton; cash concession, ss. Oats: Alilling, 3s. Id., 3s 3d.; feed, 2s. ltd. per bushel. Barley: English. 4s. 3d.: Cape, 3s. fid. and 3s. 9d.; feed, 3s. 3d. ami 3s. fid. per bushel. Potatoes: £lO. £ll Ids. per tou. Onions: £5 15s. to £fi per ton MELBOURNE HIDES SALES. Melbourne, Jnnunrv 21. At the hides sales the market wps general. ''Tedium and lights were 1-B<L higher. Heavies and stouts were firm nt late rates. Kips were a farthing lower.

GRADING OF CREAM

ATTITUDE OF COMPANIES • ADDRESS BY DLR. SINGLETON All interesting address at the conference of the Dairy Factory Managers’ Association yesterday was that of Air. W. Al. Singleton, Director of the Dairy Division of the Department ol Agriculture, who dealt with several questions arising out of the regulations governing the grading of cream. Air. Singleton said that over 70 per cent, of the butter manufactured in the Dominion last season was made from graded cream. Other companies desired to have their cream graded, but could not do so until some competitor was made to grade. Since the regulations had been gazetted some of those who had been compelled to grade had expressed regret that grading did not become compulsory at an earlier date. The opinion of the great majority in the industry was that the grading of cream should be general, and that there should be differential payments according to grade. The supplier of “finest” cream had a right to a higher price than suppliers of lower qualities. The principle of payment according to quality so generally obtained in commercial life that one wondered at any objection to the adoption of the principle in the payment for cream. A number of dairy companies had evidenced no undue haste in giving effect to the requirements. In some districts that "taihoa” policy was in evidence, and this appeared to constitute the principal objection yet manifested towards the grading of creams and differential payments therefore.

As from November 25, 102 G, it bad been unlawful for companies to refrain from grading cream and paying according to grade. As from January ‘25 all cream used for butter manufacture at dairy factories must be graded by certificated graders. Practicallv every dairy factory had now one or more certificated graders. A number of these companies which had hesitdted in adopting the grading of cream appeared to be afraid that their neighbouring factory was either not going to grade or that it was going to grade on a lower standard. Despite this lack of confidence, practically all dairy companies were now grading, and the Dai-y Division was unlikely to require to use much compulsion in this respect. 'The question of uniformity of grading had been receiving attention, and the Dairy Division had noted that attempts had been made to spread the idea that difficulties of an almost insurmountable nature must neeessarilv follow the classification of grades of cream. As the officers of the division saw the matter, that idea was more imagincry than real. Even under the voluntary system sonic companies were accused, and probably not without cause, of adopting a low standard in order to entice suppliers from a neighbouring factory. Agreements amongst dairy companies to the effect that they would not accept another company’s supplier without that company’s consent, should be encouraged and become more general. This would assist materially in re-establish-ing confidence and prevent some unfriendly accusations being made. Mr. Singleton said-be trusted that the suggestions that certificated graders would deviate from the path of rectitude and grade the supplier rather than his cream, would be proved to be without foundation. Were such practices permitted, the bringing in of compulsory cream grading would be proved to be a mistake. However, the industry had asked for the compulsory grading, and it would never do to permit incompetent or dishonest cream graders to nullify such an important factor in the improvement of New Zealand butter. If it could be ascertained that any certificated grader was incompetent "Ins certificate would be cancelled," and his company would have to get another grader. If a cream grader knowingly classified cream wrongly the offence would be considered to be much more serious, and such a grader, if successfully prosecuted, was liable to a maximum fine of £5O. Further, if any certificated cream grader received instructions from his directorate or from his manager that the standard of quality was to be varied with respect to all or any of the company’s suppliers, he was entitled to receive that instruction in writing, and should not carry out instructions which appeared to him to be wrong, unless he so safeguarded himself. It was recognised, however, that the great majority of the certificated cream graders were men of honour and probity, and would not stoop to wrong practices. Although a few graders had not had as much experience in grading as was desirable, it would be the pleasure of the butter instructors to render all possible assistance to those who were striving to do their duty. FEILDING STOCK SALE BY 'I'ELEGRAPU,-pttrss 'SS""I'"Feilding, January 21. Six thousand sheep came forward for the Feildiniz sale today, mainly lambs and a few pens of store wethers and breedinc ewes. Fat sheep were in short supply, and sold at late rates. Best rape lambs about maintained last) week’s prices, while anything inferior showed a decline of from Is. to Is. 6d. a head. A line of 200 good liomne.v shorn wether lambs off hills fetched 165.; b.f. rap lambs. 15s. 6d.. 15s. 7d.. 17s. 9d. to 18s. 3d.; Romney wether lambs, 165.. 17s. Id.. 18s; four-tooth wethers, 21s td,; two-tooth wethers. 17s. to 20b.; store ewes. 95.. 12s. Id., 12s. 2d.; fat wethers 21s. to 235.; fat b.f. lambs. 17s. 7(1. to 215.; fat ewes, 145., 165., 17s. A very small yarding of cattle resulted in a dull sale. Fat cattle sold nt late rates. Practically no store cattle were yarded. Dairy cows in milk brought £3 17s. 6d.; good fat cows. £5 7s. 6d. to £6: medium fat cows, £3 10s. to £4 55.; twoyear fat Polled Angus steers were passed at £6 55.: two-year Polled Angus steers were passed at £5 18s. 6d.

THE DAIRYING INDUSTRY

FACTORY MANAGERS’ CONFERENCE MANY PROBLEMS DISCUSSED The important part playeel by the directors aud managers of dairy factories in the progress of the dairying industry was emphasised, at the conference in Wellington yesterday of members of the New Zealand Dairy Factory Managers' Association. 'there was a largo attendance of delegates, representing factories as far north as Napier and Marton, and also from Nelson and Marlborough. In the morning the delegates assembled at the Pipitea grading and cool store, where they were welcomed by Mr. J. O'Dea, gradcr-in-charge at Wellington, and Mr. J. C. Newington (Masterton), managing director of the Cooperative Daily Producers’ Freezing Co., Ltd. Grading Competition. •A grading competition took place in the cool store. ' The maximum marks allowed were 100, and the contests iu both classes were remarkably keen, lhe results were as follow: — Butter. Pts. W. J. Lee (Norsewood) 98 A. Gulliver (Tamaki) F. Souness (Waiaruhe) M J.' AlcDonald (Cheltenham) 97 J. Brooking (Kiritahi) 96f E. K. Haines (Ormondville) 9C Cheese. A. King (Kokotau) 98 W. Knoles (Kaipirio) 98 J. Wylie (Ohau) 971 D. Souness (Riverbank) J. Brooking (Kiritahi) 9'i —. Foss (Hukanui) 97) D. Kelly (Konini) 971 —. Deiahunty (Tiratu) ?74 Importance of the Industry. The delegates met in the afternoon at the Dominion Farmers’ ,Institute, where a number of interesting addresses on .various aspects of the dairying industry were delivered. Air. W. J. Delahunty (Tiratu) presided. Dr.' C. J. Reakes. Director-General of Agriculture, said he realised how very valuable meetings of this kind were fo the dairy industry. This year was a very good one from a dairying point of view and it was exceedingly satisfactory that, the great dairying industry was doing its full share in maintaining the prosperity and progress of the country. One very satisfactory feature lay in the fact, that there had been such a marked improvement in the quality of our butter and cheese. There had been an increase in quantity, hut it was far 'more important that there had been an improvement in quality. There was never a time in the history of the Dominion where improvement and still more improvement in quality was needed. Britain and ot her .countries were recovering from the effects of the war and increasing their consumptive capacities. New Zealand had to face keen competition from other dairying countries who were striving to turn out the best possible qualities of butter and cheese. The Dominion producers had held their owu in the. past, but they must be on the alert to keep their standard as hieJi as possible. One very important factor in the continued progress, of the dairying in. dtistry was the cordial co-operation between. the directors and managers ot the companies and the officers of the Department. Nothing was of greater value in securing success than co-oper-ation am] mutual assistance, and with good tteam work from the supplier to the grader he was sure that the dairying ijndustry would, continue to go ahead. Dairy Board’s Aims. Mr. T. CD Brash, secretary of the Dairy Produce Export Control Board, said the supreme object of the board was to see that the man on the lam( got the best possible return for his labour. Without the support and the work of the farmer there could be no great industry in this country. (jue of the aims of the board was to coonerate with and assist the officers of the Dairy Division of the Department of. Agriculture, who had done so much io improve the methods of the dairying industry.’ Mr. Brash then referred to the sys. tern introduced by the Dairy Board of .paying a premium for superfine grades of butter and cheese over and above the advance made on first grade. He quoted interesting figures covering the period from September 1 to support his claim that a a great improvement in quality had been brought about by the premium system. The board was arranging for the handling and sorting of New Zealand butter and cheese in Txindon under cold storage conditions. Factory managers could do much to assist the board by paying' careful atlention to the handling of their produce between the factory and the grading store. Mr. W. C. Ward, of the Forestry Service, followed with an interesting lecture on the packing of butter and cheese for export. A large number of lantern slides eoverinn a scries of tests made by the Forestry Service of various types of boxes and crates were shown, and Mr. Ward dealt fully with the results nf the tests. Mr. W. M. Singleton, Director of the Dairy Division of the Department of Agriculture, gave an address on cream grading, which is reported in another column. At the conclusion of the addresses a large number of questions were aiiswei* ed by the speakers, who were accorded votes of thanks. Cln the motion of Mr. Broadbent (Rexdale). seconded by Mr. Broadbclt (Levin). a resolution was carried congratulating the Dairy Export Control Board “on taking the bold step of paying a premium on the finest grades of butter and cheese.”

PRICES OF METALS. (Rcc. January 21. 10 p.m.) London, January M. Copper.-Standard, on spot £55 11s. 3d. per ton; forward delivery. £.56 6s. 3d. Lead. £27 10s. and £27 16s. 3d. Spelter. .230 15s. and £3O 13s. 9d. Tin. £293 12s. 6d. and £295 Is. 3d. Silver.—Standard 26fd., flue 28 6-16 d. per ounce.

School children tip to Standard t will be interested in class 324 in the Dannevirke A. nnd P. Show schedule. Three prizes are offered for the best plasticine mnr>nl nfa ny animal, no entry fee being charged.

been arranged:— For London. Ships Cases Sailing date Corinthic 16,500 l‘ eb. 9 Cambridge ... noon Feb. 20 Mahana 19,BCD Jtcb. 28 Northumberland ... 23.300 ad ar. 8 1 (Jill c* 17.900 Mar. 9 For Liverpool. Nort huniberla nd ... 15.000 Alar. 8 For Glasgow. Northumberland ... 10.000 Mar. 8 • For Video. I’akeha 28,700 Mar. 13

X Z. GOVT. LOANS— Buy cm. £ s. d. Sellers. £ s. d. , 4J p.c. Ins. Stk.. J938 96 15 0 5J p.c. ditto, 1933 .... — 101 5 0 5J p.c. ditto. 193(1 .... : 100 .17 6 101 5 0 -I J p.c. Bonds, 1941 .. 9G 17 6 P.O. Ins. Sik.,'1929.. — 99 0 0 DEBENTURES— Well. Racing Club .. 10G 0 0 — Napier Harbour Board 51 p c.. 1943 — 97 10 0 Inglewood Borough. 5 p.c.. 1929 - 98 10 0 Makerua Drainage .. —. 101 0 (1 BANKS— Australasia 11 2 0 11 5 0 Commercial of Aust. (ord.) 1 13 0 National of N.Z 7 1 6 7 3 6 Now South Wales .... 47 5 0 New Zealand 2 IS 9 Union of Aust, (cum.) 15 9 G — fINANClAL— Gohlsbrough Mort 2 9 9 — N.Z. Guarantee Corp. (ord.. 8s.) 0 10 1 0 10 5 Well. Deposit & Mortg. — 0 10 3 0 10 6 Wellington (ord.) .... 16 3 — I N SUR A N CE— .... 3 15 0 New Zealand (cum.).. 1 17 3 .MEAT PRESERVING— N’.Z. Refrigerat. (£11 0 11 9 — Ditto (10s.) 0 5 9 0 6 3 - 1 16 0 TRANSPORT— Ilnddart-Parker (ord.) — 2 8 0 Union Steam (pref.).. 1 0 0 WOOLLEN— Kalapoi (ord.) 0 9 9 •—• . COAIe- - — 1 16 0 TIMBER— Kauri 1 8 0 Lpvland-O’Bricn .... — — 6 15 8 BREWERIES— Manning and <’o .— 10 3 Staples and t’o 1 18 9 ■ MISCELLANEOUS— C M. Banks 1 2 6 Burns. Philp, and Co. — 2 1 0 Electrolytic Zine (ord.) 1 1G 6 1 17 3 Ditto (prof.) — 1 .18 0 Howard Smith 1 12. G National Electric ... — 0 17 9 N.Z. Milk Products 1 1 9 .1 2 9 Dominion Investments 1 1 0 _ 1 2 6 Sharland & Co. (ord.) — .12 0 Walrarapa Farmers' tpref. I — 0 16 0 Wilson's Cement .... 1 14 9 MINING— Waiht 0 17 0 0 18 0 Kawarau 0 3 0 0 3 11