FARM & COMMERCIAL

Dominion, Volume 21, Issue 8, 4 October 1927, Page 12

FARM & COMMERCIAL

NEWS AND NOTES

AUCTION SALES TO-DAY. Columbia Road Yards Maslerton, noon. —Spring cattle fair (N.Z. F.C.D. Co.) Broadway, Marton, at rooms, 11.30 a.m.— Sale of land (Abraham and M illiams, Ltd.). 81-86 Tory Street, 1 p.m.—Sale ot stock-in-trade, ‘'Blue House” furnishing warehouse (E. Johnston and Co.). 8 Willeston Street, 10.30 a.m. —Sale of unclaimed cargo ex various ships (L. Johnston and Co.). 98 Manners Street, 2 p.m.—Sale of oak and riuni furniture (Ramsey Wilson

and Co.). 173 Cuba Street, 1.30 p.m.—Salo of furniture (C. W. Price). , „ . . 108 Cuba Street, 2 p.m.—Sale of furniture (L. Silverstone). TO-MORROW. 14 Brandon Street, 3 p.m.—Sale of laud and 5-roomed house (H. E. Leighton). Taranaki.—Pedigree Jersey bull sale (Newton King, Ltd.). 14 Wigan Street, 10.30 a.m.-Sale of furniture (C. W. Price). 14 Brandon Street, 2.30 p.m.—Sale ot property, Taita, Lower Hut (H. E. Leighton). Diminion Farmers’ Institute, 2.30 p.m.— Sale of land and 5-roomed house

(Longmore and Co.). Foxton and Levin Road, on the larrn noon.—Sale of stock (Abraham and Williams, Ltd.). 202 Vivian Street, 10 a.m—Sale cf r otorcar (E. Johnston). Waterloo Quay, at Murray Roberts wool store, 10.30 a.m.—Sale of timber (45. Johnston and Co.). Johnsonville stock sale. Office Traffic Inspector, Cuba Street - nm.—Sale of street stands (M.C.C.). p THURSDAY. A. and P. Showgrounds, Palmerston North— Manawatu bull and heifer show sale (W. S. and Co., and A. U. and Co., Ltd.). _... Awango.—Stock sale (Abraham and Williams, Ltd.). , 8 Willeston Street, 1.30 p.m -Salo ot furs (E. Johnston and Co.). 8 Willeston Street, 1 p.m—Sale of Chinese furniture (E. Johnston ana Dannevirko saloyards<-Specml cattle sale (Williams and Kettle).

FARMING INTERESTS

NEW ZEALAND MEAT BETAIL PRICES JN LONDON. The New Zealand Meat Producers Board has been advised by its London manager that following retail prices were quoted for New Zealand lamb and mutton retailed in London on Scptemb<New Zealand Lamb.-Logs, 146. per lb.; shoulders. 13d.; loins. 12d.; necks, 8<1.; breasts. sd. , .. , . In . New Zealand Mutton (wether).—Legs. 106. per lb.; shoulders, 9d.; loins, 9d.; necks, 7d.; breasts, 3d. STOCK SALES Messrs. Dalgety and Co.. Ltd., report having a fair entry of sheep and cattle at their Taihape sale on Wednesday, when competition was keen for sheep and the demand steady for cattle. Quotations: Small wether hoggets, 215.; medium ditto, 235. lOd.; good ditto, 275.; pood ewe hoggets, 30a.; b.f. hoggets, 235, 76.; 2-year empty heifers, £3 10s. to £4 95.; 2 to 3-year steers (rough), £5 55.; 3 to 4year bullocks, £8 55.; 3-year steers, £6 165.; 2-year steers. £5 17s. Messrs. Dalgety and Co. report that there was a small entry of sheep at their Mangaweka sale on Thursday. Quotations: Two-tooth empty ewes, 30a. 3d.; tn.a. ewes with w.f. lambs. 31s. 46.; m.a. ewes with b.f. lambs, 335. Id.; wcaner pigs. 175., 66. to 20s.

LONDON MARKETS HIGH COMMISSIONER’S CABLED REPORT The Department of Agriculture, has received the following cablegram tram the High Commissioner for New Zealand. London, dated October 1; Tallow. Market quiet and prices slight y weaker. Present quotations arc:—Mutton. line, 565. 6d. to 3757 per . owt -, : ll . fal v q to tn ß °, 345. to 365.; dark to. dull, 325. to 335. Beef: Sweet and/or mixed, -6 s. to 40b., fair to good, 335. 96. to 355. 66.; dark to dull. 31s. 9d. to 325. 9d. Mixed: lair to good, 335. 96. to 355. 6d.; dark to dull, 30s. 6d. to 325. Gut, etc.. 275. 6d. to 31s. 66. eggs. Prices higher and market quieter Iresent quotations are:—English and. Dutch. 17« 6d to 21s. per long 100; Danish and French, 15s. 6d. to 205.; Belgian. 16s. 96. to 18s.; Estonian. 14s. to 175.; Lithuanian, Russian and Polish. 9s. to 15s. Wool. Sales closed on Thursday. Attendance large and representative throughout, Continental buyers particularly prominent in merino section. Yorkshire purchases principally among New Zealand crossbreds. Feature of series was ready sale of large quantities of eliped wool. Compared with July scries, greasy merino and fine crossbred, par to 5 per cent, dearer; medium and coarse crossbred, o tier cent, to 75 per cent, dearer; fine sliped, par, and lower grades, par to 5 per cent, dearer. Average closing rates: —6O-64’s. no New Zealand offered; 56-j8 s. Is. lOd. to 2s. Id, per lb.; 665, Is. 86.t0 is. 106. s 48-50’e. Is. 5*6.t0 Is. 76.: 44-46 s. Is 3*.d. to Is. 4.R1.; 36-40 s, Is. 2Jd. to Is. 3*6. " There were 120,000 bales sold, of which Continent took 60.000, Home trade 57,000, and U.S.A. 3000. Next series commences November 22. Oats. Market firm with absence of offers of foreign descriptions. Plate afloat worth 265., October shipments 25a. 6d. Chilean December shipments offered 245. 6d. Up to 265. 66. obtainable for earlier shipment. Bad weather affecting English thrashing. Sepplies moderate and quality poor. Choice feed, white, held firm at 30s. to 31s. Choice old crop make 355. to 365. Values' of New Zealand A grade Gartons, October shipment. 325. 6d. „ Beans. Market very quiet. Supply of English winter moderate, and samples chiefly in soft condition. Only small demand for perfectly dry ones at 435. to 455. Choice old winter, 50s. to 51s. Cocksfoot. On account of had weather Danish new crop reported failure, and prices have advanced considerably, 90-95 quoted at £5 7s. 6d. C.I.F. main ports. Peas. Maples New Zealand spot quoted 87s. 66. to 90s. ex store, and nominal value of first grade February-March shipments 775. 6d., and April-May shipments 70s. A grade Tasmanian February shipments 87s„ March-April shipments 83s. 6d. Blues: Market very quiet. New crop New Zealand and Tasmanian worth about £lB for shipment next spring, but no buyers at present for this position. Hemp. Manila easier early this week, and J grade October-December shipments sold £42 10s.. and down to £42 ss. Market steady at the close, sellers quoting £42 15s. -Sisal: Market steady. No. 1 arrived eold £37. and No. 3 £36. SeptemberNovember shipments No. 1 quoted sellers £37 12s. Tow: Market quiet. Value No. t £3l to £32. New Zealand market quiet. Business has been done with _ OctoberDecember shipments on the basis of £33 10s. for fair, nyid £32 10s. for common. Highpoints. sellers £35 10s., but buyers' ideas £35. Tow market: quiet and easier. Value second grade £23, and third grade m BUTTER AND CHEESE DAIRY BOARD'S ADVICES. The Dairy Produce Board has received the following market report from its London agency, dated September 30:— Butter.

New Zealand white and coloured 1045.*1065. 101s.-1023. Market very firm. Outlook till end of year exceptionally good. Canadian finest white and coloured 105s. •106-r. 102a.-1068. English finest farmers' 1205.-1245. 116g.-1225. Retail prices unchanged. OTHER ADVICES The Bank of New Zealand, produce department, has received the following advice from its London office, under date September 30:— Butter.—Slow; 178 s. to 182 s. per cwt. Cheese.—Firm; 104 s. to 106 s. pet cgvt. . Frozen Meat. —The market for wether mutton is quiet but firm. Ewes are quiet and unchanged. Tho market for 7d. per lb.; wethers, heavy, 51d. to 6d.; per lb.; wethers, heavy, otd. to 6d.; ewes, 4}d. to 5d.; lambs. 2’s. 91d. to 9?d. lambs. B’s, 9d. to 9fd.; lambs. 4’s, BJd. to 9d.,- lambs, seconds, 'Bld. to 91d.

COMMERCIAL ITEMS

WELLINGTON STOCK EXCHANGE YESTERDAY’S BUSINESS AND PRICES A salo ot Wellington Meat Export (ordinary) shares ut Bs. (Id. was the bnly transactions recorded yesterday. Government stocks and bonds were In fair deiiianil.with buyers ot the 4$ tier cents, at £!»G, the 5 per cents, at £9f» 10s., and the 51 per cents, at £lOl. Wellington Gas (debentures) were firm at £O9 ss. Eastbourne Borougli 4J per cents. (1934) at £B7 show an advance of 40s. Bank shares were firm and in good demand, with buyers o£ Commercial Bank (ordinary) at' 275, 9d., English, Scottish, and Australian Bank at £7 6s„ National Bank o£ New Zealand at £0 17s. fid., Bank ot New South Wales at £43 2s. (Jd„ Bank of New Zealand at 575. Oil., and Union Bnnl at £l4 18s. Sellers quoted £l4 12s. (id., ex-dividend, for Bank of Australasia. New Zealand Guarantee Corporation (preference) were wanted at 21s. (cum. dividend' and Wellington Investment at 10s. 4d. There was a bld of 225. Id. for Christchurch Gas, ox-rights, South Britsih Insurance were wanted at 575. 3d. Meat shares were in good demand, with buvers of Gear Meat at 365., New Zealand Refrigerating (2tls. paid) at 14s. 6d., JOs. paid at 7s. Id., ami' Wellington Meat Export (ordinary) nt 7s. 6d. HuddartParker (ordinary) wore firm at 4Us. Wellington Woollen were in iloniaiid, the ordinary at £5 195., and the preference at £6 Is. Westport Coal were wanted at 84s. There were buyers of Kauri Timber at 245. 3<L, Loyland-O’Brlen Timber at 355., British Tobacco at s<!s., Electrolytic Zinc (preference) at 295.. Sliarland and Co. (ordinary) at 20s. 0d„ Wilson’s Cement at 80s., and Holden’s Motor Body Builders at 335. 6d. Yesterday’s buying and selling quota-

SALES IN OTHER CENTRES BT TBLEGBAm.—PRESS ASSOCIATION. Auckland, October 3. Sales: Auckland Gas (con.), 175.; Occidental Una, Is. Id.; Waihi, 225. (Id. Christ church, October 3. Sales reported: Union Bank of Australia. £l4 18s. Sales on 'Change: Bank of New South Wales, £43 IDs.; New Zealand Refrigerating (coutri.), 7s. 3d.; Christchurch Gas, 225. 3d. , , Dunedin, October 0. Sale: New Zealand Breweries shares, 445. (id. FEILDING FARMERS’ FREEZING COMPANY For the year ended July 31 the Feilding Farmers' Freezing Co-, Ltd., shows a loss on operations of £6605, m against small profits in lhe two preceding years. In accounting for the loss the directors state that "the killings thowed a decided falling off compared with the previous twelve months, mainly dim to the 'go-slow' tactics and serious strikes of some of the employees, together with the greatly reduced support given by exporters for whom we had riecn killing in tlic past, and for whom we had largely increased our freezing space. 1 here was brought into the 1925 statement a debit balance of £10.013 13s. lOd. For tho 192425 season there was a net profit ot £2174. the whole of which was written off for depreciation; in the 1925-26 period the net profit was only £4BB, and. this also was written off for depreciation. With the loss made for the year under review the accumulated deficit amounts to £16.618 10s. 86. The works are to be reopened this season, and apparently there is to be a change of policy, for the directors state that "they have made fresh and satisfactory arrangements for the coming season which will enable the company to purchase Htock at the highest ruling market rates." „ ■ The gross profit from freezing, manufactures. etc., totalled with transfer fees £6244. General expenses totalled £3581; interest, discount and exchange, £8305; insurance, £963; a total of £12,849; the deficit for the year being £6605. the paid up capital of the company stands .at £58.076, against, £55,498. the increase being due to a call of Is. 3d. per share having been made during the year. Bank overdraft stands lit £97,602, against £114,324, showing a reduction of £16,(22 during the twelve months. Sundry creditors account for £4603. against £4505. The assets comprise: Land, buildings, plant, machinery. etc., £130.159. against £129,771; sundry debtors, £5346, against £4385; stocks and materials, £9636. against £10,255; and accumulated deficit, £16.618, against £10,013. The total of the assets is £161.980, against £178.044. The assets shown last year included accrued charges on goods in store, £3392. and con* eignmenfs unrealised £20,027, which have no place in this year’s balance-sheet. FARMERS’ CO-OPERATIVE AUCTIONEERING CO. The Farmers’ Co-operative Auctioneering Co., Ltd., whose head office is at. Hamilton has issued its balance-sheet for the year ended July 31. The net profit for the term was £18,294, and there was brought forward from the previous year £2277. making available £20,571, against £39.671. The gross profits totalled £107.882, and the expenses under all heads amounted to £98.588, or 83 per cent, of the gross income. The dividend at 6 per cent, on tho A and B preference shares £253.212, absorbs £15,193, leaving £5378. out of which the income tax is to be paid, and the balance carried forward, which means that on tho ordinary shares totalling £226.741 no dividend is to be paid. The paid-up capital of the company is £478,894, the reserve fund stands at £26.376, fixed deposits £27,944, and current account balances £7835, both of which are moderate. The amount due to the bank is also very moderate, being only £19,556 and sundry creditors account for £41,683. Tho outside liabilities amount to only £W6,056. The assets include freehold and leasehold property, £174,876; machinery and working plant, £9960; office furniture. fittings, and machines, £6723; sundry debtors, £300.522; advances against consignments, £1406; bills receivable. £1355; investments, £16.451; war loan stock, less depreciation, £27,867; and stocks of merchandise. £85,140; the total of the assets being £624,301. The balance-sheet is satisfactory. but it would appear *hat working expenses, etc., at 83 per cent., are rather high. Economies in this direction would enable the ordinary shareholders to receive some little return on their capital. IN RECEIVER’S HANDS On Thursday last tho bankers of the Canterbury Farmers’ .Co-operative Association, Timuru, put in a receiver, and (according to the Tiuiaru "Herald") at the annual meeting held on tho following day the chairman, Air. K. Mackenzie, announced that the receiver was the general manager of the association, Mr. A. M. H. Shirtcliff. The amount owing to the bankers, according to the balancesheet, to July 31. 1927, was £208,948 18s. 8d„ and the association’s indebtedness on fixed deposits was £207,082. and on current accounts £133,299 16s. Bd.; in addition there was owing to sundry creditors £15,199 2s, 7d. The puid-up capital of the company is £309,690 3s 9d. The bank overdraft shows an increase of £17.749 over the previous year, while fixed deposits were reduced by £59,045, and current account balances by £15.421. Apparently the depositors were benefiting to some extent at tho expense of the bank, and the receivership will adjust tho relative interests. The chairman stated at the meeting that “the transfer of deposits lias for some time given much concern to the directors, aud in close consultation with the bankers we decided to move for a moratorium on deposits, which was been put into force, having in view tlio general welfare of all concerned." The chairman explained that under the receivership all net proceeds of produce sold through the association would be placed in a separate trust account with he Union Bank, and paid to each respective owner promptly.' The bankers r the association are tho Union Bank of Australia. Ltd. The association is governed by twelve directors. CUSTOMS REVENUE. The Customs revenue collected at the port of Wellington yesterday totalled £11,117. PALMERSTON NORTH JERSEY SALE. Mrs. A. Banks and Son are offering two very promising two-year Jersey bulls at the Jersey sale to lie held at Palmerston on October (>. Tho dam of one of these bulls more than doubled her required amount of butter-fat. under test as a I hreo-year-old, while three of her half-sisters have an average of (5GOlb. pf

30/9/27. 23/9/27. Nkjw Zealand salted 178S.-187S. 1803.484s. up to 184s. Do., unsalted 184s.-190s. 184s.-188s. Market temporarily quiet, but forward position sound. Australian driest salted 176s.-l80s. 176s.-178s. Do., un'salted 180s.-184s. 178s.-182s. Argentine finest unsalted 174s.-176s. 174s.-178s. Irish creamery, salted 176s. ’180s.-182s. Do., unsalted . 180s. 1 86s. Dutch, unsalted 196s.-198s. 192s.-194s. Estonian, salted ■ 180s.-182s. lEOs.-lBZs. 182s.-184s. 184s.-186s. Siberian - 158s.-162s. 160s.-162s. 194s.-196b. 200s.-202s. Betail prices unchanged. Cheese.

Hons were as under;— Buyers. Sellers. N.Z. GOVT LOANS— £ 8. d. £ 6. d. 4* p.c. Ins. Stic.. 1939 OB 0 0 9fl 10 0 •11 p.c. ditto, 1933 .... 91) 0 0 no 10 0 54 p.c. ditto, 1935 .... 199 17 0 —~ 4] p.c. lb nds, 1938 .. 96 0 0 —— 54 p.c. ditto, 1933 .... — 101 7 0 54 p.c. ditto, 1930 .... 101 0 0 —— 5 p.c. I'.O. Bonds, 1927 99 10 0 DEBENTURES— Wellington Gas 09 o 0 —• N.Z. Breweries (stock 1 1 . 1 3 10 Eastbourne Borough, 44 p.c., 1934 87 0 0 Devonport Borough, 0 p r 1936 102 10 0 Petono/Lower Hutt Gas V- Bd., 5J de.. AW W 0

BANKS-r-14 12 ti Commercial of Aust. 17 3 18 0 English, Scottish, and 7 6 0 7 10 0 6 17 6 . New South Wales .. 43 2 6 43 10 0 2 17 9 2 18 3 Union of Aust 11 18 0 financial— Equitable Building .. •— 9 2 6 N.Z. Guarantee Corp, (ord., 8s.) — 0 1) 1 Ditto (pref.) 110 N.Z. Invest., Mortgage, and Deposit .— 0 10 0 Wellington Investment 0 10 4 — Well. Trust, Loan ... — 6 17 0 GAS— Christchurch (c.r.) .. 13 3 — 1 3 3 Christchurch (ex-righls) 12 1 insurance3 IS 0 New Zealand — IB) 3 South British 2 17 3 MEAT PRESERVI NG — 1 1(1 0 — . N.Z. Refrigerat. (£1) 0 14 0 — (1 7 1 0 7 6 Well. Meat Exp. (ord.) 0 7 6 — TRANSPORT— Huddart-Parker (ord.) 2 6 0 •— p, and O. clef, stock.. —— 2S0 0 0 WOOLLEN— Wellington (ord.) ... r> io o *— Ditto (pref.) 6 10 —— COALWestport 1 14 0 — Westport-Stockton (pref.) —— 0 3 9 TIMBER— 1 ”0 Leyland-O’Brien 1 15 0 —- - 0 B> 6 BREWERIES— New Zealand —— 2 5 0 n 2 0 0 MISCELLA N EOUS— British Tobacco (Aust.). 2 16 o ~ — Electrolytic Zinc (prof.) 10 9 1 10 6 Newton King (pref. 1 —. 0 12 6 N.Z. Paper Mills —— 0 17 0 Sharland & Co. (ord.) 1 0 It —* Wilson's Cement .... 1 16 0 •—- Holden's Motor Bodies 1 13 6 1 14 G MINING— Waihi — 13 0