FARM & COMMERCIAL

Dominion, Volume 20, Issue 101, 24 January 1927, Page 14

FARM & COMMERCIAL

NEWS AND NOTES

AUCTION SALES TO-DAY. If Brandon Street, 2.30 p.m.—Salo of land. Hutt district (H. E. Leighton). Merton Road, Trantham, 11 n.m.—Sale of racing establishment (Harcourt and Co.). „ , . 8 Willcston Street, 1,30 p.m.—Sale or . household furniture (E. Johnston and Co.). WEDNESDAY. Johnsonville—Stock sale. FARMING INTERESTS FROZEN MEAT MARKET Messrs. Levin and. Co.. Ltd., have received tlic following cablegram from their London agents dated January 21.—Frozen meat quotations (prices on a "delivered basis, i.c., including storage charges, cartage. tolls, etc.).—Down lambs, 28 to '.2 h. WJd. per lb.: best. North Island wether sheep, 48 to 64’s, 62d. per lb.; 64 to 72s 6)0. per lb.: ordinary North island wether sheep, 48 to 64’s, 6Jd. per lb: North Island ewes. 48 to 64's. 4.1 d. per lb.; 64 to 72 e. 4Jd. per lb.; New Zealand prime ex bccl. 160 to 20's, 3sd. pet- lb. The market is influenced by heavy arrivals,of cheap chilled beef. The New Zealand Loan and Mercantile Agency Co., Ltd., have received the following cablegram from their London oilice, under date January 21.—New Zealand frozen meat: Lamb: New season 9)d. per lb. (average). Mutton: id. per .lb lower. Market quiet. MEAT BOARD PRICES. The New Zealand Meat Producers’ Board has received the following cablegram from its London office dated January 21. advising Smithfield delivered prices at that date as follow:—(Prices for two previous weeks are also shown in parentheses).— N.Z. wethers and maidens: Canterbury quality, selected brands (old season). 561 b. and 'under 6Jd. (6fd. Mid 63d.); 571 b. to 641 b. 6id., (6Jd. and 65(1.): 651 b. to 721 b. 6fd„ (6Jd. and 6Jd.l. N.Z. Ewes: (Old season), 641 b. and under did , (4jd. and 4Jd.). N.Z. lambs: Canterbury quality, (old season). 36ib. and under 10d., 'tOJd. and lOjd.); 371 b to 421 b. BJd.. (8-)cL and Bjd.); 431 b. to 501 b. 7Jd., (7jd. and 7Jd.); seconds 72d., <7£d. and Bd.l. N.Z. beef: Ox fores, 3Jd., (3}d. and 3Jd.l; hinds, 4d. (4d. and 4d.). Argentine chilled beef: Ox fores,-3d. .3fd. and 3&d.); hinds, 4Jd (4gd. and s*d.k Argentine frozen beef: Ox fores, 3Jd. (31-J. and 3Jd.); hinds, 4d. (4Jd. and 4Jd.). Frozen pork: 801 b. to 1201 b., Bd. (9d. and 9d.); 1201 b. to 1831 b., 7Jd. (3d. and Bd.). Messrs. SI. A. Eliott, Ltd., Palmerston North, have received cable advice from their London agents of the following Smithfield prices for the week ending January 21. These prices are on tho “delivered” basis, that is, including storage charges, cartage, etc.: —B**t North Island wethers, and/or maiden ewes. 48-56, 56-641 b.. Gid.: 64-72. over 721 b.. 6W.. Ordinary North Island wethers, and/or maiden ewe’. 48-56. 56-641 b.. 6id.; 64-721 b. over 721 b.. 5Jd. North Island ewes, under 641 b.. 4}d.: 64.721 b.. over 721 h.. 3id. New Zealand prime ox beef (equal fores and hinds), . 16C—2201b.. 4Jd. • Remarks.—Lamb, not quotable. ’’/ethers. Id higher. Ewes, no change. Lecf, Jd. lower. TRADE WITH THE EAST A recent cable message from Sydney stated that Roland Green. M.H.R.. who has returned from a visit to the East, made serious allegations against Australian traders in Eastern markets. Ho said that goods were delivered short in weight and very poorly packed, and tins had resulted in a decline in Australian exports to the East from i-K.000.M0 in 1922-23 to £36X00.000 in 1923-24. . „ In conversation with a Dominion representative, Mr. J. Collins, Secretary of the Department of . Industries and Commerce, said that Mr. Green was somewhat astray in regard to his figures. The total annual exports -from the Commonwealth to the East- (covering China, Japan. Hong Kong, the Philippine Islands, Dutch East Indies and Singapore and India) during the last five years had been as follows:— 1920- £12,000,000 1921- £21,000,000 1922- £17.750,000 1923- £21,000,000 1924- £19,750,000 The chief products exported from Australia to the East were wool, wheat, flour, condensed milk and butter. The annual value of the butter exported was about £750,009.

WANGANUI WOOL SALE 0

BROKERS’ REPORTS The Wanganui wool sale, which opened on Saturday afternoon, concluded on Sunday evening. The range of prices is as follows:— d. d.

Messrs. Dalgety and Co., Ltd., report Tho. second sale of tho season opened at -I p.m. on Friday. 25,000 bales being brought forward to the usual full bench of buyers. The same keen spirited bidding as has been in evidence at sales lately held was just as pronounced at tho Wanganui auction, the majority of the buyers being very eager to secure supplies. Buying, as Las boon tho case throughout this season’s Dominion ales, was well spread; in fact, more so than was the case at last Wellington sale, where Continental buyers did not secure a heavy weight of tlic textile, mainly owing to the wools being too deeply grown for their special requirements. Wanganui wools, cspecially hoggets, are generally shorter owing to lamb shearing, and these wools aro eminently suitable for the Continental trade. Although Bradford, as usual, was tho largest buyer, German and Italian competition was -.cry pronounced, and tho two latter secured a fair portion of the offering. Tho wools catalogued, considering the season, opened up in really good order, and as far as our offering was concerned was one of tho best shows we have brought forward for many years. Wo have, on previous occasions, referred to the change in character of many of the Wanganui clips. During the commandeer it was the exception to find many parcels of 46-48’s quality; 3G-40’s and 40-44’s predominating, with many good lines of straight 3G’s. To-day the latter quality is a much decreasing quantity; in fact, very scarce, and even straight 40-44’s are hard to find. It would seem that before long many growers will realise the necessity of strengthening up their clips, as without doubt weight aud body is in many instances lacking. A lofty price per pound may sound well, but the true value of wool from a growers’ profitable point of view is what a sheep returns per head or per- acre, and not just what it obtained per pound. Quantity is in many cases being sacrificed for quality, with tho result that many clips aro running out thin iu staple and lacking body and character. Bidding at this sale was reminiscent of the days before the war, when buyers were well on the same limit and shouting themselves hoarse to catch the auctioneer’s eye. Under such circumstances tho sale was a fast one, buyers mostly putting in their best price at first bid. From the last Timaru sale held on December 15 up to the Napier sale, on January 17 prices, especially for finer wools, have firmed and shown a fair appreciation: crossbreds have also become a little dearer, and at Friday's sale it is pleasing to report a firm market at late rates, with strong demand for all grades from all sections of the trade. January rounds in tho Dominion will be a true test of the market, as at tho different centres a total of close on 120,000 bales will be submitted, and if the trade can lift this weight 'without prices showing any signg of sagging, then it will be fairly safe to assume that prices for the remainder of the season will remain firm.

The result of the opening of the London sales on January 18 showed a rise of a penny in fine wools and no change on medium and coarse. An all-round rise was fully anticipated, and it is disappointing to learn that medium and coarse sorts are unchanged. At present Dominion prices for the latter wools are above London parity. The most satisfactory feature of the textile market is the steady and consistent demand that has ruled throughout the season, and although present prices suffer greatly in comparison with those ruling two years ago, still, in many cases they leave a margin of profit, which, in view of the difficulties the trade has experienced during the same period, is something to be thankful for. The few lots of super American style wools that were offering met fair demand and were generally taken for the United States American trade, although Bradford and local mills, with their competition, kept the former well up to the collar. At present wo think that the best of the top lines of fleece are relatively' cheaper than most of the lower grades, and it is always a satisfaction to know that other interests are in the market operating on a similar buying basis. Some very nice soft handling, good colour parcels of lambs’ wool were submitted, and met good competition from France. Bradford, and local mills, one outstanding line in our catalogue, . 46-50’s quality, “HM/Te Afore,” making the satisfactory price of 16d.; another line, 50-56’s quality, “Ruaiangnta,” brought 174-1. In crossbreds we made 15jd. for six bales of owes, 48-50’s quality, " A H B,’ the line being well grown, light and good style in character. Alt classes of skirtings sold well up to the .last Wellington sale rates, local scourers. France and Germany being the chief buyers. The bellies and pieces were generally heavy in condition and carrying a fair amount of seed. Fleece wools were hardly as seedy as usual and certainly lighter in condition. As compared with last Wanganui November sale, the prices generally can be quoted for medium a'nd coarse crossbreds of average style, a halfpenny dearer, in some cases a penny. Fine crossbreds, medium and fine quality, three-farthings to a penny higher; bellies and pieces halfpenny to a penny advance. Lambs’ wool, when compared with January Wcllington sale, show an appreciation of from a farthing to a halfpenny. Out of our catalogue of 2700 hales wo sold 2376. Some of our prinicipal sales are as , under: — Fine Crossbred. —HM/To More, 7 bales hoggets llld., 16 ewes A 12J-!., 5 ewes B 11jd.; Tataramoa, 27 owes ' A 12id.; TLP, 4 crossbred A 11J<I.; Rcdcliff. :j crossbred A 13Jd.; TIME. 7 hoggets 13d., If ewes A 131,<1.; OCT. 17 crossbred 12d.; A.A eyebrow, 6 hoggets 12-1.; ET/It, 7 hoggets 12'd.; AA eyebrow, 17 ewes A lljd.; Al’/M, 6 ewes HRI.; H in circle, fine crossbred lljil.; AVGM, 4. hoggets lljd.. 15 wethers lljd., 10 ewes lid.; Ressington. 9 crossbred Hid.; MB/W, 13 crossbred lid.; Glnnui, 4. hoggets A 11. hi.. 6 hoggets B 12Jd., 11 ewes A 137,(1., 6 wethers A 13d., 13 wethers 15 lift] ■ SAM/U. 8 ewes A ll’d.; WS/K, 4 hoggets 11 Id.; Opekc. 8 hoggets 12J«1.: WGAV/ X, 4 hoggets 12Jd., 8 crossbred 13}d.; Heart eyebrow, 18 ewes 12d.; AC/Brao side, 4 hoggets URL. 7 owes A 12<L; A .1, fine crossbred 11-1.; CG F, 8 hoggets llld. UU/GB. 7 ewes A 12’(L; HB/OK, 8 hoggels 13d.: OKO, 12 hoggets 12'i1.: WBl’. ■I hoggets 121-1.; JKiS, 15 hoggets A 131-1., Ili crossbred A A 131-1,. 25 crossbred A 12J-1.. 24 crossbred 11Jd.: Timlin, 8 hoggets 12? d.: DD. 4 hoggets 12'd.-. ACB/Tutu. 6 owes 12-1.; Ruatangaln. 4 crossbred A l.’ild.: McM, 6 ewes A 12-1.; Momo, 8 hoggets A' 13Jd.» 6 ewes A 12jd.,

5 wethers A 13d., 22 wethers B J\l 0 eves A I’-'jd.; Makowhai, i eresobred A 121(1.; 11/NZ, ‘-2 crossbred 1-m.: Horse, 7 hoggets A. Mil., b crossbred IJ.jd., H ewes A 12. d., t ",^ her ® i; jin • i*G, fine crossbred A 13p1., r crossbred B IL’jd., 7 wethers B 12d.; FAW, 7 ewes A Hid.; O.'J/KAK, 4 ewes A lid.; A D> G hoggets llfd.: Opeke, b crossbred 12d.; Maboe, 12 hoggets l-jd.; Pickwick, 7 hoggets 12.1 d.; U 1 /I , 1huggots 12d„ 40 wethers A lljd.; AIIB, (i tine crossbred 15jd.; Various, 8 fine crossbred lajd. r. •> ) Medium and Coarse Crossbred.—lib/ Rawa, t) bales wethers 11-ld.; B wineglass B, 5 hoggets 12-Jd., 45 ewes Hid.; Mc’M. 0 hoggets 12-jd., 0 wethers A 12d.; Atiti/l’N, It bales ewes It'.ld.; liamahiku, 6 crossbred A ll{d.; Tataramoa, 5 ewes B 101 d.; Thet, 0 crossbred Hid.; Redcliff, 15 ” crossbred 12d.; HMB,« 7 crossbred 12d.; HGB/O, -1 crossbred 10|d.; Gift, (J crossbred lljd.; A A eyebrow, 17 ewe ll'jd-, 0 crossbred lid.; CC3, 7 ewes 101 d.; ONE, 12 wethers, 10fd.; I’ll/K, 4 crossbred Hid.: WS/K, 10 owes lid.; Opckc, 27 ewes Hid.; AVGAV/X, (> crossbred J2d.; IAVCHT, 6 ewes 10'd.; Mangauui, 9 hoggets 12Jd., 30 ewes A 12d., 118 crossbred A lljd., 19 crossbred 10-’d.; I’6/llawa, 12 owes HJd.; ND/Jt, 10 ewes Hid.; CGF, 23 ewes lljd.; I'U/GB, G ewes B Hid.; GE/T, 8 hoggets Hid.; HB/OK, .7 hoggets ,B 12.1 d.. 8 hoggets C llld.; CBD/Gums. 7 ewes lljd.; JK&S, 17 hoggets 12’d., 17 crossbred lid., (i crossbred IOJd.; Tualiu, 15 crossbred 12.1 d.; HD/E, H owes, 10-jd.; HEE, 7 hoggets lid.. 23 wethers ltd.; DI), 5 ewes 12(d.; EH/Tututawa, 8 ewes lid.; Ruatangata, 15 crossbred Hid.; Mc.’il, 11 ewes B H.ld.: JWH/O. G "ewes 11(1.; JF. cjd. 8 boggels A 12;]d., 81 crossbred ewes HJd.. 11 ewes 11-jd.; JAJ, 15 owes A Hid.; Makowhai, 7 crossbred A 12.}d., 10 crossbred B lljd-: H/NZ, 13 crossbred 12’}w., H crossbred ewes H.ld.; Horse, Ifi owes B 12d.; Kawhatau, 8 hoggets J2Jd., 15 crossbred ewes HjJil.; Al). 25 owes A 1l:]d.; AD, 21 Lincoln IOJd.; Maboe, 13 ewes 12(1.; Pickwick, 5 ewes 12:|d.: HEE, 5 owes Ibid.; OKO, 5 wethers 11ld.; B diamond B, 15 crossbred 11-}d.; GEB/Tututawa, 4 crossbred 10.1(1.

Lambs.—TlM/Te Merc, 4 hales Kid.; AMB, 4 bales 13d.; Manganui. 13 bales 13if(L; CGF, 4 bales 121 d.; JK&S. 14 hales 15:}d.; lluatamrata, fi bales 171(1.; JF cjd. 10 bales 13d.; Monio. 0 bales HJd.; Horse, G bales 13’d.; Makowhai, (> bales 12d.; Various, 8 bales H-fd.; AHB. 2 bales 13j'd.

Southdown.—Triangle, 5 hoggets 15-’d,, 5 ewos IGJd. Bellies and Pieces—Glcnnui. 12 pieces Iljd., 7 bellies 73d.; Manganui, 11 bellies 8<l.; JK&S, 13 bellies 71d., 0 hogget pieces 9jd„ 18 pieces A' <)Jd.; JF cjd. 5 necks 9(1.; Memo, 7 bellies Bjd.; .Makowlmi, 9 pieces Bjd.: H/NZ. 9 nieces 91(1.; ’Horse, 12 pieces 9’d.; IVGW/X, 4 pieces 81d.; Kawhatau, 4 pieces 81d. LEVIN AND CO. Messrs. Levin and Co., Ltd., report;— Our contribution to the catalogue was 3170. Tho offering consisted mainly of crossbreds. Bidding was keen anil extremely animated, all sections of the trade operating with vigour, aud’ we cleared 90 per cent, of our catalogue. Generally speaking, the advances recorded at the recent sales at Napier and Wellington were maintained, especially when -the style and condition of the Wanganui wools are taken into account. Fine and medium crossbred of super style and condition (46-48’s and 44-46’s) were strongly competed for at an advance of a full penny on our last November sale, skirted and well-graded lots selling particularly well. Average ami inferior fine crossbred (4G-48’.s) showed a rise of from Id. to Ijd., whilst average and inferior medium crossbred (4446’s) showed a rise of about Id. Coarseand low crossbred (40-41’s and 36-40’s), for super and averase lines were from par to Jd. better, whilst inferior were very hard to quit, even at November rates. Lambs’ wool, which was in good supply, mot with strong demand, especially from France, very satisfactory prices being realised. The following are some of the principal results :— pJAI/Fernbrae, 8 bales E and H Iljd.; (.’lifton Downs, 6 bales H and W I'J.ld.; HR under bar, 5 bales E and W Id-Id.; D U O, 7 bales H and E Hid.; E K B. 9 bales E and H ltd.; Mahoe/OCP, 4 bales EAA 133(1., 39 bales EA 12-jd., 6 bales EB ICJd.; WM.'SG, 15 bales E lid.; L H K, 15 bales E IOJd.; Wair/Wairua, 4 bales E 12d.; R/Ohuraiti, 7 hales A A 12-RI., 18 bales A HJd„ 17 bales B IWd., 9 bales DF 101 d„ H bales DM ICjd.; ITakama/JF joined, 14 bales E 12(1.; U over semi-circle, 6 bales EWH T’d ; KM, 7 bales W lid.; F C J/O, Ki bales E Hid.; F 7 / O, 8 bales E nn.l H 10d.; leringa, I) bales E 121 d.; C F / T, 5 bales Vnl I’’ ~a' C S IGJd., 4 bales B lOld.; HVD under evebrow, 5 bales A A llld., 10 bales A Hid.; D W I D, 5 bales AA skirted 13d.. 11 bales A p’d 5 bales B H.ld., 4 bales E and H lid : D arrow R, 29 hales R 10J<l„ 5 bales L .IffpL: A .I S, 10 bales crossbred Ifiid.; b. J C, 7 hales W Ifiijd.; TRL in diamond, 6 hales crossbred Hid.; R / Awarua 13 bales AA 12d„ 7 bales A lid.; S 7 under ?? r i’ ba ! e ? K and 1T ”1'1.: S2 over bar, 12 bales AA llld., 8 bales .A 10id.- S AE conjoined, 9 bales E llld.; Kiwi, 4 bales rr A X alr ’ 12 bales E 0 bales L IC : ]d.; Opourua, il bales A crossbred 13d., 5 bales B crossbred Hid.;. E K B. 8 hales E end If, Y <! A : 0 L'T^ a!pa/ J J - A ’ 11 ,;a ’*' s L nd.; M G i S ’ Ji 2?l es ’ A 11}d " <! ’’“les B 16KL. •I bales C 9’d„ 13 bales D JORL; Clifton Downs, / bales E 10? d„ 4 bales E 9fd • Wairua 5 bales E 10fd.; J L C, 9 bales crossbred 93d.; Ngahere, 8 Kales A A I'pt/V)P IW ” J l , ba l£ s A i2.'.d. : LPm/P, 5 hales E 10-}d.; J J] p 5 hales E nn<l W IfilJ • F 1? / r /• ° erossbrorl in,l rr 1 ’ L 1 .*’.<> bales ( rosstned lOcl.; n over semi-circle 4 bales EHW lid.: J F R, 4 bales II and K)4d^'- ; ? H "V croVsb/cd 16’d - A’ 2 bales Down, p io>d a ‘p V n i ei L e ’V 1 Pbro "'; 20 balf ’ s W lO’dA^" if i G i b ’’iU >r, lcs D lln d •nn/nW I ”, A 11 balf, s E and W IHd • LR/loi, 12 bales F, iis,|.; Sea View “ifi VM 3 ’ 7 r F S ,r °‘n Wp 4 ’'ales A DH, 10 bales, crossbred, 12d.« Koitiab’i’ ■ bales A A Sktd. 121 d.. 10 bales A ’eversod, 11 h a I PS e 11',1 . 10b /N ’ TMP S ?’i 1 °? d ’ : JJB ’ 8 ’’ales H mid., fMB, 6 bales crossbred, nd • Eaglessbam, 8 bales E, U’d • D r ], a iE LT’' 1 • 11d ’ : SC ' T ’ 5 ’’ a ' a « L andl H 10.? d.; Meringa, 24 bales IV and E lid’ 11??' 1 ' 3 W * d ’ i GEo '' d ' 7 ’ 9 bales ’ 1; Hid.; AG/O, 5 bales crossbred, nd ■ Mbnmn eonjomed, 15 bales E, Hid’.’. MD/MHD , bales !•; au d H, mid ■ Koro, 7 bales WEH, lijd. : Kaitiata, 4 bales A lid. 5 bales If 10(d.- .Mount View. 43 bales AE sktd. 12f,| ' 55 p. |p£ 814 sktd 12J.1 9 bales CE sktd. Hd H bales E and H 11jd„ 5 bales R Ip-l I Ni'M over I in circle, 20 bales E \ A 13R-JG bales HA H?d.. 16 bales H and L ILid., 15 bales I.c TOJ«1.; AV/A.M, 6 ba cs crossbred lid.; UR mined /.Af 5 bales fine sktd. 1lld„ 21 bales A sktd re 1 '”! p 11“ IPS1 PS L/! 501 ’. "< d ” 7 bales II mid E Hid.; Al. in diamond, 9 halos crossbred, I«id.; Makuri, 4 l. a l es a\ sktd Hd 15 hales A sktd. 12R1.. G bales E sktd. Old.; Anchor, 6 bales E, lo.ld • Vt lutewell, 5 bales A Hkl„ 4, bales" I) 10,’d.; Quin. 13 bales El? IOJd. 5 bales E l.Old ; AS/T, 6 bales E. 10’d. : AVaitatapia. 8 bales A aud H Hid.. 32 bales 1-i and H lOjd., 13 bales C IRd.- JM/U 7 J’. a ,'l S SJ ,’ ? bnlcß crossbred, llld.; AC/latu, 4 bales E, iod.- HPG 4 bales A I2Jd ; MTA/Popaunm, 15 bales W and H.ld.; A over semi circle 4 bales E, lOjd.; Pounama, ’ 21 bales E, 12d. ; CR/.M, 5 bales crossbred, llld.; FC, 6 bales E, IOJd • SBS/12/M, 5 bales crossbred " d . SC/TPE, 9 bales E and H llld'! KII/M. 14 bales E, Hid.; Taunorac, 18 bales E, IOJd.; 00/A. 18 bales "e & AV, lli’d.; Waipango, 7 bales AA 13d., 44 bales A 12(1., 10 bales B m;d., 4 bales C twd.; .TAH/Tcwharc, 4 bales crossbred, mid.; C2. 4 bales A li;d., 6 bales B mjd.; H.A conj.. 11 bales H & E, 103 d.; HR conj./Brooklands. 14 hales lid.: Tennmu, 8 bales crossbred, 112(1.; A FB conj., 7 bales B & 11. IOJd.; LA/AA, 7 bales H & E. 10|d.: AGS/G]enmorvcn, 7 bales AA skirted Hid, 38 bales A skirted 121(1.. l(i bales U skirted 1ld„ 4. bales C 10jd.: R/G'len. 9 bnl.-_ SK, 1(1,1.; JBR. 22 iin'es W * E. 12d.: AA 1. 24 .bales AE Hjd.. G bales BE, 1034.; CES. 16 bales A 11.1(1.. 9 bales B. 103<l.; Ohutu, 7 bales A A 14(1.. 30 bales A I4d„ on bales B, 11(1.; HGLS, 15 bales E. 113 d.; So m iel’L 6 bales E ft II 121 d.. 3 bales r V JI 17(1.: Rosemead. 18 bales crossbred J'i. lII d -; WHN/Purciri. 10 bales Al'l’llid., 21 bales \\ & l’< H-'L. ■> bJcs C.K. A I'uj' \ b bales ’IL iMd.: Wentworth. 23 L I' l”d. 12 haL-s W. llld.; Ke L • lmlc< L 'F & W. 93d.; AUG. 15 bales 1 , 12d.; CBC under eyebrow, 17 bales A

llld., 11 bales B 103 d., 5 bales C. 10ld.; PHI', .13 bales A IHd., G bales B, lOid.; Dunard. 17 bal.es A.E. 12d., S bales b. 1.., lU'-d.: BR/TDI, 9 bales E, 10ld.; leruru, I "bales A A skirted 131 d., 15 bales A skirted 12.1(1., 8 bales B skirted, lljd.; AliDO, 9 bales A 12id., 9 balfs B, Iflid.; Burnbank, 8 bales .1 123 d.. G bales, 103 d.; SWI/S. I) bales A 123 d., 6 bales B llld.; JH/Waitui, 8 bales A llld., 5 bales B, IOJd.; 48/P, 9 bales lt.E. 103 d., 8 bales L.E.. 9fd.; AMclI/Sibcria, 4 bales AA skirted 14(1., 12 bales A skirted 13d., 6 bales B skirted llld., >4 bales C skirted, lOjd.; GBB, 9 bales A Hd., G bales B. 10d. Hoggets.—FJß/Rataiti, 4 bales H 12’,d.; Mahoe/OCP, 5 bales TIAA 151(1.. G bales AH 13d., 4 bales BH 12R1.; WM/ 9G 7 bales H 12d., 5 bales H lid.; LHK, 5 bales H 103 d.; WAIR/Wairua, 6 bales H 12(i.; llakama/JF, 6 bales H 12-ld.; A". 4 bales H 11-ld.; DW/D, 4 bales A AH skid. 131 d., 4 bales AH sktd. 12.p1.; JR/Awarua, 5 bales AAH 123 d., 4 bales AH 113 d.; FHN/Purciri. 7 bales JL sktd. 12-ld.; Ngahere, 4 bales AH sktd. 12.1 d.; A2. 7 bales H 12jd.; R/MOE. 4 bales H 10.ld.; RR/Toi, 10 bales H 121 d.; Wl? (conj.). 4 bales AH 11(1., 6 bales IF. 10-ld. • Eaglcsham, 6 bales K Mcringa, 9 bales II llld.; Mount View, 25 bales AH sktd. 13d.. 9 bales BH skid, lid.; NFM/XX in circle. 17 bales AAH ltd., 10 bales AH 13d.; UR/M, 10 Dales HA 15(1., 5 bales 118 sktd. 12-ld.; >lakur>. 7 bales AAH sktd. 15(1.. t 13 bales AD sktd. 122(1., 4 bales 811 sktd. IOJd.; MTA Popauma. 6 bales H lljd.; Pounmnu 11 bales 11 113 d.; Tauporac. 5 bales H IW.; 00/A, 5 bales IT llld.; AGS/Glcnmorvon. 4 bales AH skid. 12.1(1.; AAA, 11 bales H IWL; FE2B, 4 bales AH URL, - bales BH 103(1.; ’Wentworth, 4 bales 11 13(1. • CBC under eyebrow 4 bales All 131(1.. 5 bales BH 12’J.; PHh, 4 ba’cs 11'11',d.; Dunard. 10 bales All 12<1.> Teruru 4 bales AH sktd. 12d.; Rosemead. 4 bales H H2d.; GB/B, 5 bales \ambs.-Mahoe/OCT, 7 bales A, 13d.; DW/D. 4 bales lambs 14<1.: Mair, a bales lambs 13(1.; Ngaboo, 5 I,alps ' a , nlb \J o b 1 K A A Teuanm. ' '’•Acs lan, re irA!,': AGS/Gleninorven. < ba cs lambs 1-< ■> JBR. 5 bales lambs 12 d ; AAA 4 ba cs lambs 123 d.; Ohutu, 4 bales lambs 13R1., WHN/Purciri, 8 bales A 13s<L < 1 p- 1 5 bales lambs 13d.: Wentworth. 4 ba cs A \ 15'd ' AHG, 6 hales lambs 13 4 d.. ARB, 4 bales lambs IGd.: '* (> 1 1-a T'L I’l'loB 1 ’ 1 ' 108 lambs 13d.; Makuri, 5 baics lambs 14(1.

MURRAY, ROBERTS AND CO. Messrs .Murray. Roberts and Co-> lid report :—The wool catalogued co >- sisted chiefly of crossbred va ™ l ' ps ’. a ,’ was possibly somewhat aboie he n<*n Waneanui standard. (Jiu atabwim of 1307 bales confined several lots of bright, useful wool, and a tea of superior style; but many -therwiso al tractive lots, were hamheapped bi (•■irrviii"' seed in more oi less de„ice, •tml‘several lines were either only partially or totally unskilled. Ib® 1 ’ 6 "2'lv no skirtings shown which ucie really ’.L from seed. Wo' catalogued some, nice lines of lambs’ wool, which, it more care had been bestowed in the wav of skirting, could have been classed as "really superior grade. Me experienced extremely keen competition at a range of prices which was eer ainly in advance of the value recorded at the first sale here, but in the better wools hardlv par with recent sales. . Bradford lifted the bulk of the offering, but lire Continent generally received such lots as were suitable to their requirements at over Bradford’s prices. Pieces and bellies were in good request, but as most ot them showed seed there were not extreme figures realised for them. J nubs’ wool was keenly bid tor, ami nnv bright lines realised good prices. U?e sold 92 per cent, of our catalogue under the hammer am will probably make an almost total clearance,ot our offering in the next day ir s:o. Wo quote below some oi the pilccs realised in our <aitalogue:- , . MP/Glenrov. AA 131 d., A L.W., L - a crossbred Hd., lambs A 15:1(1.; EMcG/ Manrara, A 13h1.. B 11 5 d. hoggets 2|.L, lambs A 15]t1.; Chester, hoggets 12.,d.. rwps 121(1., lambs 13.1(1., bellies /r|-» V/88/M. A lisd., B IHd.; W in circle, ewes llld.; FSC. A 131(1.. B Hid.: Ruknmoana, ewes A eves B 1..(1., Vpl Pakira. H.A Mid.. HB 12d.. WA 2 d.. I'A r’-’(L, Ewes B IHd., hogsrets 12-fd.. lambs A 12lcL. nieces A 121(1.. necks lllld • Braomorc, hoggets 121 d.: JM T 1?/M. hoggets 12d., WA Hd.. ewes lO.ld.; ICM7 Unlands, hoggets 124:’.. ewos A ll?d.; JFK/T?, hoggets A A ewes A A ewes A 12d„ lambs 13‘}d.. A pieces flld.; Whareron, wethers A A 11*1(1., wethers A Hid., ewes AA IHd.. ewes A IHd., nieces 8.1(1.: FB Mcß. hoggets 19|d., owes 124(1.; M’cst Ho, ewes A 114 d., ewes 1> mid., owes C 11d.. lambs 13-ld.; Operiki, A ” 121(1., B 111(1.: C/Alaungaraupi, A igßl-'B 12d., C’lljd.. Down 17R1.; Mmipu, hoggets 12.1(1.; Opaen. necks and pieces 10d.; T T, TLAi 135(1.. owes IHd., lambs IJJd.: ErnsclilTe, hoi’gots A A 13d., owes A A 12?.d.. lambs 155 d.; B 7. hoggets 13d.; McD/5, AA 125(1., A llld., 11 11-jd. Further brokers’ reports will be published to-morrow. ' LONDON WOOL SALES OPENING RATES MAINTAINED (Rec. January 23. 5.5 pan.) London, January 21. At the wool sales there wa's an excellent selection of merinos, and a limited supply of other sorts. There was spirited competition at full opening rates. New Zealand sales: C.G.O. highest price, average Panikau 2?|d. end 17£a.; V/aiau. 17d. and 15d. Mesrs. Murray. Roberts and Co.. Ltd., are in receipt of the following wool market cablegram from their London agents dated January 21—Sales continue firm. Continental buyers operating freely, Bradford moderately. Compared with last London sales closing rates greasy merino, wool suitable for the Continent, advanced 5 per cent. Crossbred greasy medium, good length and staple, advanced 5 per cent. Crossbred greasy medium, other descriptions, and crossbred greasy coarse advanced par to 5 per cent. Messrs. Lovin and Co., Ltd., have received the following cablegram from their London agents, dated January 21.—The auctions arc proceeding at the level of the opening day. Continental buyers operating freely. The following prices arc current Merino, supper. 24d. to 27d. per lb.; average. 22!d. per lb. Fino halfbreds, suner 56 to 58’s. 24d. per lb.; average. 22J. per lb. Medium halfbreds. super 50 to 56’s, 19d. to 21d. per lb; average, 18d. to 19d. per lb. Coarse halfbreds. super 48 to 50’s, 16d. to 17d. per lb.; average. 15d. to 16d. per lb. Fine crossbreds, super 46 to 48’s. 15Ad. per lb.; average, 14&d. per lb. Medium crossbreds, super 44 to 46’s. 14d. to 15d. per lb.; average. 13d. to 14d. per lb. Coarse crossbreds, super 40 to 44's, 13d. to 14d. per lb.; average. 12d. to 13d. per lb. Low crossbreds, super, J 6 to 40’s, 12d. to 13d. per lb.; average, llfcd. to 12d. per lb. Pieces. to 12d. ncr lb. Bellies, 10d. to ll*d. per lb. Locks, 7d. to B£d. per lb.

Messrs. A. IT. Turnbull and Co., have received a cablegram from their principals. Messrs. W. IVeddel and Co.. Ltd., dated London. January 21. reading as follows:—Danish butter 1765.. (last wools 1765. to 178 s I. New Zealand unsalted. 182 s. to 1645.. (183 s. to 1645.): salted. 1725. to 1745.. (1725. to 1745.). Demand runs chiefly on secondary qualities. N.Z. cheese. white 05s. to 945.. «>3s. to 945.); coloured. 945. to 955.. (945. to 955.). Market quiet. Canadian cheese. 965. to ICOs.

COMMERCIAL ITEMS

WELLINGTON STOCK EXCHANGE LAST WEEK’S BUSINESS AND PRICES A good number of sales were made last week, and. the Stock Exchanges maynow be said to have settled down to > normal business. Comparatively little was done in Government stocks and bonds. There were several transfers of tho 5J per cents, at J3IOL aud two sales were recorded of the 41 per cents, at £96 15s. There was "no demand lor the bonds and debentures of local bodies. New Zealand Breweries 10 per cent, bonds changed hands at 245. lid., 245. 6d., 21s. 7d., and 245. Cd. There was plenty of movement in bank shares and generally prices showed an upward tendency. Bank of Australasia shares sold at £l4 2s. 6<l. ami £ll 3s. 6d., National Bank of New Zealand shares changed hands at £7 35., £( 2s. 6d. aud £7 25., Bank of New Zealand, eight parcels at 595. and one at 595, 2d., Bank of New South M'ales at £l7 and £47 2s. 6d., Union Bank at £l5 6s. 3d., £l5 Ps. 6d. and £l5 10s. Gd., and Western Australian Bank at sfs. (id. Shares of’ financial companies wore solw. Business was done iu Goldsbrougii, .Mort and Co.’s shares at 505.. with buyers at the weekend at 495. 9d„ and New Zealand Guarantee Corporation ordinary shares sold at 10s. 2d. Gas shares received a fair amount of attention because of the pending issue of balance-sheets and declaration of final dividends. Christchurch Gas shares sold at 355. 3d., 265., and 255. fid., .Ashburton Gas shares at £5, and Auckland Gas shares at 235. 10(1. Insurance shares were rather more active than usual, nnd sales were registered of National Insurance at 745. 6d. and 745., New Zealand Insurance at 375. 6d. cum. dividend, South British Insurance 565. 9d., and Standard Insurance 575. Gd. Meat shares were extremely dull. Notwithstanding tlic fact that the New Zealand Refrigerating Company has passed the dividend, the 10s. paid shares found buyers at 6s. 3d. and 6s„ six parcels changing hands at tho lower price. Shipping shares had small turnover. Iluddart-Parker ordinary shares sold at 475. 9(1.. P. and O. deferred stock, an odd parcel at £245. Northern Steam nt 135., and Devon port Steam Ferry at 255. Woollen, and limber shares were entirely neglected. Westport Coal shares changed hands at 355. 6d., A moderate business was done in brewery shares, with sales of Crown Brewery at 21s. 6(1.. New Zealand Breweries at .525. 9d., and 525. 6(1., and Staples and Co. at 395. Cd. The sales registered in the miscellaneous section were Auckland Amusement Park, preference at 2Gs. and 265. 6d.. Burns, Philp and Co. at 40s. 9dd British Tobacco, ordinary, at 525. fid and 525. 9d.. Colonial Sugar at £55 155.. Electrolytic Zine, ordinary, nt 365. 10d.', and preference at 375. 3d. and S7s. 5d.. Milburn Lime, rights, at 3s. 10(1.. 3s Hd.. ami 55.. and AA'ilson’s Cement at 355."1id., 355. 3(1., and 355. SALES IN OTHER CENTRES BY TEbEGUAPn. —Press association Auckland, January 23. Sales.—Kawarau, 3s. ICd.; New Waiotahi (com). Is. 4(1. r _ Christchurch, January £. Sales reported.—Bank of Now Bbath Wa’ee £47 2s. 6d.; British tobacco. 525. 9(1. Stiles-Christchurch Gas, 255.. 265. 1(1.; National Bank el’ New Zealand. £7 25.; Bank of New South Males, £47 ss. 6d.; Western Australian Bonk, 545. 3d. (two parcels); New Zealand Refrigerating (contr.), 6s. 3d.; New Zealand Guarantee Corporation, ICs. Id. DlinCdin, January 23. Sale.—Mount Isa, 32s 3(1. Sale reported.—Wilson’s cement, 355. EXCHANGE RATES. London, January 20. Foreign rates of exchange on January 20, as as compared with par-rates, or as averaged first half of 1914, are as fol-

PRICES OF RAW MATERIALS. (Rec. January 23. 5.5 p.m.) London, January 22. Cotton.— Liverpool quotation for American middling upland cotton, February delivery 7.18 d. per lb. Rubber—Fine hard para, 6id. per lb., plantation first latex crepe. 194(1. Jute—January-February shipment, £32 1C Xew Zealand Hcmp.-Deccmbcr-Fcbruary shipment, £37 10c. per ton. Copra.—January-1 ebruary shipment, £ub 17s. 6d. per ton. Linseed oil, £32 ss. per ton. Turpentine. 525. 6d. per cwt. FROZEN AND CHILLED MEATS # (K6c. January 5.5 p.m.) ' London, January 22. Cantorburi’ medium 6Rd. per lb. North Island new seasons, liEht medium 6£(J., heavy 6|d. New Zealand owes 4id. Argentine, light nidduim ou. Lambs, Canterbury, light lOd . seconds 7jd. North Island, new season s. firsts itju, senouda 91d. Argentine, seconds 6>n. Frozen Boer. Argentine hinds 4d. _ * Chilled Beef. Argentine, fores 3d., hinds 4i<L IJruguay. none offering. Other meats are unchanged.

FAT STOCK FOR EXPORT '

WEEKLY PRICES. The New Zealand Meat Producers’ Board advises that the following prices were being offered for fat stock for export on January 21;— „ , , Hawke’s Bay.-Prime woolly lambs: 361 b.. and under, Bbl.; 371 b. to tab., 7Jd.; 431 b. and over. 7d. Second quality lambs: 7id. Wellington.—Prime woolly lambs:. 361 b. and under. BJd.; 371 b. to 421 b., 7jd.; 431 b. ' and over. 7d. Second quality lambs: 7id.. Prime wethers: 561 b. and under, aid.; 571 b. . to 641 b.. 45d.: 651 b. to 7Mb., 4id. Ewes: 561 b. r ahd under, 3Jd.; 571 b. to 641 b. 3d. , Canterbury and North Otago.—Prime woolly lambs: 361 b. and under. Sid.; 371 b. to «)b.. Bd.; 431 b. and over, 7d. Second quality lambs: 7id. Prime wethers: 561 b. and under, 5Jd.; 571 b. to 641 b., 5d.; 651 b. to, 721 b.. 4fd. Ewes: 481 b. and vndcr, Sid.l 4Slb. to 641 b., 3id. OVERSEAS EXPORTS Ml owing are the Customs returns for New Zealand oversea exports and ini--I>ol ’ Exports from New Zealand. Month of December, 1925 Year 1926 4>>,2-5,5<5. Month of December, 1925 4.513,488; Yedr 1925 ■■■■■■ 55,262,2;2 : Imports into New Zealand. Month of December, 1926 4,288,096 Year 1926 Month of December, 1925 ■ Year 1925 52,456,407 NEW ZEALAND BUTTER ij • i . ■ WORKINGS ON IMPORTS TO NEW ; SOUTH AVALES. Sydney, January 21. In the Legislative Assembly, in reply to , a question, Ifr. Lang Baid he thought tn* ( suggestion quite reasonable that NCw Zea-. land butter imported into New South Wales should bear the 130 VuZ Ings on the package as to quality as tbs . local product, and said he would consult, the Attorney-General on the subject.

1’inc crossbred, 46/4S — 11 to 15 14 12 to 11 to 1"* Medium' crossbred, 44/40— 141 13 to 11 to 13 ‘Ji to 10} Coarse crossbred, 40/44 — 11 Jr to Average 101 SI to to 11* 10} Low crossbred— 1UA 10 ' IU 10 1 m 103 to y* Hoggets— 12 J to 14* 13} Medium, 44/10 Coarse. 40/44 12 10$ to to 10 to 12 Lambs— to 10} 13 Fl u p 40/4-1 .11 to hi Seedy and inferior Bellies and pieces— st to Io 10} Crossbred, low to medium 12 6 to Crutchlngs— to Medium Io good 71 Inferior to seedy ■» to 6$ DALGETY AND co.

low: — Jan. 20. Jan. 17. Par. New York, dols. 4.8(10 to £1 4.85? Montreal, dols, to 4.S6G £ ] 4.8t’>j 4.8(1? Paris, Irenes to £1 122.17 122 25.22? Brussels, belgas to 34.90 £1 34.90 — Amsterdam, florins 12.13} 12.107 to £1 *. 12.13} Stockholm, knf. to 18.17 £1' . .. 18.18 18.12 Oslo, knr. to £1 18.03 19.97 18.12 Copenhagen, knr. to £1 1S.21 18.22 18.12 Berlin, Keichs- . 20.40 mark to £1 .. 20.4(1 Koine, lire to £1 112.13 112.87 Yokohama, pence 24? 24? 24.4S Calcutta, pence to rupee 18 1-32 IS 1-16 24 Hong-Kong, pence 24 to dollar Batavia, tlorins to 24? 12.11 £1 12.101