FARM & COMMERCIAL

Dominion, Volume 21, Issue 86, 10 January 1928, Page 12

FARM & COMMERCIAL

NEWS AND NOTES

AUCTION SALES TO-DAY. Tauniarunui, 10 a.m.—Bale of land on account Supreme Court (Bishara and Co.).' Feihling Showgrounds, noon.—l arorangi tenth annual sale (Murray Roberts and Co.). Levin sale. , 8 Willeston Street, 1.30 p.m.-Sale ot household furnishings, wireless set, etc. (E. Johnston and Co.). 8 Willeston Street, 1.30 p.m.—bale ot tearoom tables,. chairs, and stands (E. Johnston and Co.). TO-MORROW. Ohaktme, 1.30 a.in.-On account Supreme Court, of land (People's Auctioneering Co.). . Solway (near Masterton). —Wairarapa stud sheet) sales' (Wright, Stephenson, and Co.). Eoxton, 1 p.m.—Clearing sale (C. h.. Woodroofe). Watt Motor Co.’s Garage, Palmerston North, noon. —Dispersal sale of new and second-hand motor cars, etc. (Mounsey and Co.). , , , , Johnsonville, 12.30 p.m.-—Fat stock sale. Wanganui, noon. —Stock sale (Ireeman R. Jackson and Co., Ltd.). 2i Beach Street, Island Bay, 10.30 a.m.— Sale of household furniture, etc. (E. Johnston and C 0.)., THURSDAY. Courthouse, Tauniarunui, 2.30 p.m.—-Salo of property (District Lands and burSolway? Masterton, 10.30 a.m.—Annual stud and flock ram sale (Wairarapa Stud' Sheep Breeders). Otaki sale. SHIPMENTS OF LAMB FROM AUSTRALIA The New Zealand Meat Producers’ Board has just received a cablegram from its representative in Australia advising that 65363 carcasses of lamb were exported from Australia for the fortnight ended January 6. 1928. SHIPMENT OF MEAT FROM SOUTH AMERICA The New Zealand 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 January 5, from Argentine and Uruguay: 215,71 J quarters chilled beef: 8327 quarters frozen beef; 137,000 carcasses frozen mutton; 151,490 carcasses frozen lamb. The quantity shipped to the Continent of Europe during the same period was as follows: 126,290 quarters .frozen beef; 20,671 carcasses frozen mutton. To West Indies: 1300 carcasses frozen lamb.

FARMING INTERESTS

HERD-TESTING RECORDS HOROWHENUA The following ia a summary of the records of the Horowhenua Herd-Testing Association for the 30-day period ended January 2, 1928:— Whole Association. „ Test. Fat. , Cows. Milk. p.c. ib Average all cows ... 44 832 4.1 34 83 Highest herd average 49 1402 3.8 53 38 Lowest herd average 55 657 3.7 28’26 Highest individual, 82.001 b. fat. Lowest i individual, 2.881 b. fat. Group Averages. Jest. Fat. Cows. Milk. p.c. lb. Group method • 46 829 4.1 34 m Association method . 21 888 4.3 38J1 Herd Averages. _ Test. Fat. „. . , , , Cows. Milk. p.c. lb. Highest herd— Group method 49 1402 3.8 53 38 Messrs. Harper Bros., Weraroa. Associated method 4 1200 4.0 48 42 Mr. E. Bruce. Palmerston North. Lowest herd— Group method 55 -657 3.7 24 26 Association method 21 662 4.9 32.65 Highest Lowest cow. cow. , Ib. fat. lb. fat. Group method 82.00 288 Mr. J. Trembath, Levin. Association method 79.30 17.94 Mr. A. P. Ralph, Otaki. BUSH ASSOCIATION The following is a summary of the records of the Bush Herd-Testing Associa2 1O 1W°— thC 3O ' day period ended January

PROGRESS IN WAIRARAPA Dominion Special-Service. Masterton, January 9. "The last year has seen' great strides in the Wairarapa in the direction of herd-testing ana the improvement of herds,” said the secretary of the Wairarapa Provincial Farmers Union (Mr. J. Watson) ,in conversation to-day with a "Dominion’' representative. He stated that the number of cows under test in the Wairarapa had increased from 5100 to 6200. a difference of 1100, which showed that considerable advancement had been made. Mr. Watson added that it was anticipated that new groups would be inaugurated this season, following the establishment of the calf-marking scheme. The cull cow drives under the auspices of the union will commence this month. Entries for the fleece . competition will close on January 31, to enable an exhibit to be made at the next show of the Masterton Agricultural and Pastoral Association. LONDON PRODUCE MARKET HIGH COMMISSIONER’S REPORT The Department of Agriculture has received the following cablegram, dated January 7, from the High Commissioner lor New Zealand, London :— Tallow.—Spotmarket firmer with active demand at auction. Present quotations are: —Mutton: Fino, 41s. 6d, per cwt.; fair to good, 38s. 6d. to 40s. 6d. per cwt.t dark to dull, 365. to 375. Beef: Sweet and/or mixed. 395. to 425.; fair to good, H*,. 3d. to 395.; dark to dull, 35s’. 6d. to 365. 6d. Mixed: Fair to good, 375. to 38s. 9d.; dark to dull, 355. 6d. to 365; Gut. etc., 345. to 365. 6d. Hemp.—Market is of a holiday character. Manila market quiet with a tendency easier. J grade January-March shipments sold £4l. Sisal market quiet. Small business has been done in No. 1 January-March shipments at £37; No. 2 offered more freely closing value being £35 10s. New Zealand: Small inquiry for spot and afloat. Forward shipments neglected. Present values of JanuaryMarch shipments are: Highpoints, £34. 10s.; fair. £22 10s.; and,common, £32. Tow, second gradb, £2 10s.; and third grade, £l9. " Oats.—Market continues quiet with little interest .shown in imported. English firm. Supplies of good quality are small, and best white are making 335. 6d. New Zealand’A grade January shipments quoted 335. 6d. (nominal in absence of offers). Plate oats for January shipment offered at 245. 9d.. and Chilean new crop for March-April shipment sold at 255. 3d.

Peas.—Market quiet. Small demand for new crop maple, buyers having sufficient for the present. New Zealand FebruaryMarch shipments sold at 735. and AnrilMay shipments offered at 725. 6d. English of good quality somewhat scarce best making 645. to 665. Blues neglected. A grade Tasmanian February-March shipments offered at £lB 6s. per ton c.i.f., without attracting attention. Beans.—Market steady. Good Inquiry for English, best dried winter selling at 475. to 495., old crop making 555. 6d. Chinese horse afloat selling at £lO 12s. 6d. Danish Cocksfoot.—Market very quiet. Stocks considered small and sellers expecting higher prices. Nominal value for January shinment, £5 to £5 ss. c.i.f. Wool.—Bradford market firmer, and most qualities again in sellers’ favour. Present quotations are:—Tops: 64s (merino), warp, 4s. 4d. per lb., average 4s. 3d.; 56's. super halfbred, 3s. 3d.; 50’s, halfbred, 2s. 5d.; 40’s, prepared, Is. IOJd. The Bank of New Zealand has received the following advice from its London office, as at the close of business last week:— Butter.—Quiet; 160 s. to 1645. per cwt. Cheese—Quiet; 925. to' 945. per cwt. Frozen Meat.—The market is firmer for lighter weight wethers. Prices for ewes appear to have reached the top. Lambs are in short supply, and prices are nominal. Australian lambs quoted at 6d. to 93d.. and Argentine 6d. to 83d. There is a little better demand for beef. Wethers. light, 63 d. to 73d. per lb.; wethers, heavy. sd. to 5Jd.; ewes. 43d. to 53d.; lamb's, 2's. 113 d. to Is.; lambs, B's, 113 d. to Is.; lambsfi 4’s. 11R1. to Is.- lambs, sec-

onds,'’lid. to 113 d.; ox hinds, 43(1.. to 43d.; ox fores, 33d. to 3?d.; cow hinds, 4d. to 43d.; cow fores. 33d. to 3}d. LONDON DAIRY PRODUCE PRICES DAIRY BOARD’S REPORT The New Zealand Dairy Produce Board has received the following market report from its London office, dated January 6. 1928:-

Market weak. J English finest farmers’ 1265.-130 s. 1255.-130 s. The board has also received the following advice from its agents in Canada:— Butter: Montreal, 35J cents (Is. 53d.); New York, 504 cents (2S. lid.); San Francisco, ja <&£>

RETAIL PRICES OF N.Z. MEAT IN LONDON

The New Zealand Meat Producers' Board has been advised by its. London manager that the following retail prices are being quoted for New Zealand lamb and mutton retailed in London on January 6: — New Zealand Lamb.—Legs, 14d. per lb.; shoulders, 13d.; loins, 12d.; necks. Bd.; breasts, 6d. New Zealand Mutton (wether).—Legs, lOd. per lb.; shoulders. 9d.; loins, 9d.; necks. 7d.: breasts, 3d.

COMMERCIAL ITEMS

WELLINGTON STOCK EXCHANGE

YESTERDAY’S BUSINESS , AND PRICES

SALES IN OTHER CENTRES BY TELEGRAPH. —PRESS ASSOCIATION.

Auckland, January ? Sales- Hikurangi (pref.), 7s. 9d.; British 'itibaco, 395. 9d.; Haywards’ Pictures, 18s.; Ohinemuri Gold and Silver. Bs.

POVERTY BAY WOOL

For the past three or four years the wool-growers in the Poverty Bay district have been agitating to have wool sales held in Gisborne, but so far without success. Another attempt is to be made this year in this mqtter, and it is doubtful if the producers will meet with any better success than in the past. It is estimated that the wool production of the district amounts , to 50,000 bales, of which alfmt 20.000 bales or more are offered at the Napier sale, the balance apparently being consigned to London for sale there. On the figures of production Poverty Bay would seem to be entitled to two or three sales during the season, but there are difficulties in the wav, and these have prevented the Wool Buyers’ Association from agreeing to attend sales at Gisborne. It is contended that already there arc far too many selling centres in the Pominion. and the buyers we a very strenuous time travelling from one place to another, valuing the clips, and then spending hours at the sale, to say nothing of other labour, euch as instructing brokers as to shipment, communicating with principals, both by cablegram and letter, and other labours which keep the buyers going almost night and day. To add another selling centre to those already in existence is to add to the labours of the buyers. Furthermore, owing to transport difficulties and the time involved in buyers travelling frem Manier or Auckland to attend sales at Gisborne, it would be impossible to close the selling season at the end of March, as desired by the-buyers. If the season could be extended to the end of April something could be done in the matter, but it is obvious' that to include stiles at Gisborne the selling season must ne nrolonged. and the ouestion rests entirely Vith the buyers, It is a metier that requires close consideration whether the number of selling Centres should lot be reduced to three or four. In Australia sales are held in the capital cities only, an exception being made in favour of Geelong.

N.Z. LOAN AND MERCANTILE

The balance-sheet of the New Zealand Loan and Mercantile Agency Co., Ltd., for the year ended June 30, 1927, submitted to the proprietors at the thirtythird annual meeting, held in London on December 8, shows that after paying interest on the first and second mortgage debenture stocks, making provision for bad and doubtful debts, and other contingencies, and writing £lO,OOO off premises, there remains a balance of £148,992, out of which £lO,OOO has been appropriated to the staff benevolent fi.nd, and the interim dividend of 3J pr cent, on prefrence stock, and 3 per cent, on ordinary stock, paid in June last, absorbed £55,000, leaving a bmance 'of £83,992 to which must be added £45.286 brought forward from last yeat, making a total of £129,278. Out of this the & ner cent, cumulative second preference stock dividend absorbed £11,661, the final dividend of 24 per cent, on 5 per cent, cumulative preference stock absorbed £25,000. and the final dividend of 43 per cent, on the ordinary stock, making 7i ner cent, for the year, absorbed £45,000. leaving £47.697 to be carried forward. The liabilities, apart from capital issues and reserve £500,000, are first and second mortgage debenture stock, £2.000,000 (including £300,000 held by the company): bils payable. £6164; current accounts, £959,035; accrued interest <>n mortgage debentures, £17.000; and temporay 10.-ijij, £7l 939 The assets include cash with bankers £62,333: cash on consignment trust account. £156.940; money at short notice, £207.500: investments £611,513; shares in other companies, £193,882; bills receivable. £18,552; advances on produce. £364.806; secured loans and other advances, £2.698,015; merchandise. £725.507; current accounts. £973,831; company’s premises, etc... £369,679. The total of the 'assets is £6,183,416.

CUSTOMS REVENUE. ' The Customs revenue collected .at the port of Wellington yesterday totalled £7914.

Whole Association. ’ Test. Pat. Cows. Milk. p.c. lb. Average all cows .... Al 925 4.0 37.62 Highest herd average 23 941 4.9 46.39 Lowest herd average 65 835 3.2 26.R7 Highest individual. individual, 10.801b. fat. Group Averages. Test. Fat. Cows. Milk. p.c. lb. Group method 56 925 4.0 37.55 Association method 18 886 4.4 39.81 Herd Averages. Test. Fat Milk. p.c. lb. (Highest herd— Group method SO 1039 4.1 42.59 Association method Lowest herd— u 941 4.9 46.39 Group method 65 835 3.2 26.87 Association method 13 787 3.4 27.48 Highest Lowest cow. COW. Group method lb. fat. lb. fat. 87.00 10.80 Association method 69.12 18.75

Butter. 6/1/28. 31/12/27. New Zealand salted 160s.-164s. 162s.-164b. Do. unsalted 164b.-168s. 166s.-170b. To 170s. Market quiet; tendency lower prices. Deliveries New Zealand last week, 2100 tons: in store. 2100 tons. Australian finest salted 156s.-160b. 156s.-160s. Do., unsalted 158s.-164b. 160s.-164s. Argentine finest unsalted . 150b.-156s. 154s.-156s. Danish, 1B2b.-184b. spot, 172s. f.o.b. 182s.-184s. Dutch creamery, unsalted 190b.-192h. 186s.-188s. Siberian salted 150s.-152s. 152s.-154b. Retail prices unchanged. Cheese. New Zealand white and coloured 93s.-94s. 91s.-94s. Canadian, finest white 102s.404s. 100s.-104s Do., coloured 100s.-104b. 100s.-104s. Australian finest white 91b.-94s. ■— Do., coloured 90s.-94s. —

The Stock Exchange reopene d yester,i,r. but. of course, there were no transactions. As a matter of fact several sharebrokers have not yet returned to the citv. and yesterday quotations were more or less nominal. The 4i per cent. Government stocks and bonds were in demand at £00 15s. and the 5} per cents. £101 5s.. Wellington Racing Club (dehontnres) were wanted at £100. Cominercial Bank shares at 29s. 3d., and NaHnnnl Bank of New Zealand at £6 14s., PT-dividend, were the only bank snares „t, n t w l. Wellington Meat Export (ordinar'y) shares yrere wanted ai : 7s. Gd., Huddart-Parker (ordinary) at 48s., and Wellington Woollen (ordinary) at £0. n’hnrp were bids of 40s. lor Tui Brewery ebnrcs. 28s. Cd. for Howard Smith, 10s. for Newton King (preference), 9s. for Taranaki Oil, and 38s. for Burns, rniip, buying and selling quotations were as under: — Buyers. Sellers. N.Z. GOVT. LOANS— £ s_. d. £ s. d. 44 p.c. Ins. Stk., 1939 96 lu 0 44 p.c. ditto, 1938 ... 96 lu 0 54 p.c. ditto, 1033 „ 97 5 0 101 10 0 54 p.c. ditto, 1941 ... 98 10 0 — 44 n.c. Bonds, 1939 ,. 96 In 0 —— 44 P.C. ditto, 1938 ... 96 la O 54 p.c. ditto, 1933 ... 101 •> 0 — 54 p.c. ditto. 1936 ...101 u 0 — DEBENTURES— Well. Racing Club .. 106 0 0 —— N.Z. Breweries (stock and bonds) — 1 3 o BANKS— . t Commercial of Aust. „ (ord.) 1 9 3 National of N.Z 0 14 0 FINANCIAL— N.Z. Guarantee Corp. (ord., 8s.) 0 9 1 INSURANCE— 0 15 10 MEAT PRESERVING— Well. Meat Exp. (ord.) 0 7 6 —— TRANSPORT— , , o 'o n Huddart-Parker (ord.) 2 5 0 — WOOLLEN— nnn Wellington (ord.) .... G O O — COAL— Westport 1 13 6 Westport-Stockton (pref.) ■; — 0 3 6 TIMBER— National 0 12 3 BREWERIES— .. Staples and Co — 2 10 MISCELLANEOUS— British Tobacco (ord.) — 2 0 0 Electrolytic Zinc (pref.) — 1 12 6 Howard Smith 6 1 10 0 Newton King (pref.) 0 10 0 Sharland and Co. (ord.) n ~~ n 116 Taranaki Oil Fields.. 0 9 0 —■■ Burns, Philp, and Co. 1 lb 0 —