FARM & COMMERCIAL

Dominion, Volume 21, Issue 88, 12 January 1928, Page 12

FARM & COMMERCIAL

NEWS AND NOTES

AUCTION SALES TO-DAY. Courthouse, Taumarunui, 2.30 p.m.—Sale of property (District Lands and Survey). Solway, Masterton, 10.30 a.m.—Annual stud and flock rani sale (Wairarapa Stud Sheep Breeders). Otaki sale. Allen Street, 11 a.m.—4o sides bacon (Townsend and Paul). TO-MORROW 151 Featherston Street, 11 a.m.—Sale of two acres land, corner Elizabeth and Brougham Streets (J. 11. Bethune and Co.). Feilding sale. SATURDAY. Public Hall, Plimmerton, 2.30 p.m — Sale of 32 seaside sections, etc. (Harcourt and Co.). FARMING INTERESTS DANNEVIRKE A. AND P. / SHOW Backed by the prosperous season which has, and still is, being experienced by the farming community, in addition to the support always accorded from other quarters, it is confidently anticipated that tnis year’s annual show of Dannevirke A. and P. Association will again prove a most successful venture. Always up-to-date, the schedule for next month's fixture has been carefully revised, and those in the habit of exhibiting—and many who are not—should be interested by a perusal of the many sections and classes which it contains. Breeders of all kinds of stock—horses, cattle, sheep and pigs—are catered for in the association’s well known generous style, while the dog section—always a prominent feature—five year promises to be an outstanding feature. Those who have not yet received a copy of the schedule should make im.mediate application to the secretary. Mr. 11. S. M. Quigley, who will be pleased to furnish any information desired. Entries do not close until January 25. but there is no need to delay until the last moment before sending them along. One of the sections of the show liberally endowed with prizes is that devoted to the Jersey breed, the local Jersey Cattle Club having been mainly resporisitle in making this an attractive feature of the catalogue. 'Breeders should acquaint themselves with the many prizes offering in this department.

LIVE STOCK SALES BURNSIDE By Telegraph.—Pirns association. Dunedin, January 11. Fat sheep and lambs went up in price a little at the Burnside stock sales today, and store cattle were not sold before going to press. The fat cattle entry comprised 185 head. TJiis was comprised of some nice hpifers and prime bullocks, together with a big sprinkling of plain and heavy cows. It was anticipated that the rates for the best quality bullocks would be about on a par with last week's prime ox beef, 41s. per 1601 b.; plain 37s 6d.. heifers 375. 6d. to 405., cows 225. 6d. to 255. The fat sheep entry comprised 1860 head. Medium to very fair quality was shown, but a number of inferior ewes and unfinished wethers were penned. There were relatively few pennings of prime sorts. The market opened much the same as last week, to improve is. to Is. 6d. per head generally. Phe rates were better for all prime sheep. There w-.s no change in medium ewes. Extra heavy wethers made from 435. to, 465. Cd.; prime 38s. 6d. to 40s. 3d.; medium, it's, t-.- 345.: unfinished. 275. to 28s. 6<1.. best heavy ewes, 365. 9d. to 425. 3d.. prime. 245. 9d. to 265.; light inferior. Us. 6d. to 165.; prime wether mutton, 6d. to 6Jd. per lb.: prime heavy ewes, 4Jd.; aged ewes, 4d. The lamb entry comprised 556 head. The quality was from fair to prime, and included a number of well-grown lambs, which, however, lacked finish. Exporters and butchers were operating, and the demand was keen. Prices were firm to 9d. better than last week’s sale. Extra heavy lambs made un to 375. 3d.; prime. 31s. to 3-ls.; medium, 275. to £9s.; unfinished. 20s. 6d. to 225.; average price per lb.. 9Jd. The store cattle entry comprised 150 head, made up mainly of cows and young sorts, and some 18 to 20 three and four-year-old steers. Prices were forward, three and four-year-old mixed colour bullocks selling at £lO 195., very fair three-year-olds at £9 12s. 6d.. and cows and other cattle were unchanged. The pig entry consisted of 145 fats and 94 stores. The’demand was back a little, stores not finding a keen. sale. ADDINGTON BY Telegraph.—press association. Christchurch, January 11. Entries at Addington generally were smaller to-day, and there was a recovery in prices in most of the major sections of stock. Store Sheep.—A much larger entry, comprising for most part lambs. There was a sound sale for rape lambs, with an advance of Is. per head on last week. Good ewes and forward wethers also showed an improvement. Good m.s. three-quarter-bred lambs made to 25s 3d.; forward- rape lambs, 235. 4d. to 245. 5d.; medium rape lambs, 225. 3d. to 235. Id,; backward rape lambs, 17s. tp 19s. Bd.; forward four aud six-tooth wethers, 235. 7d. to 245. Bd.; medium four and sixtooth wethers. 21s. lOd. to 235. 4d.; good two-tooth wethers. 235. to 255. 3d.: inferior two-tooth wethers. 17s. ,3d. to 20s. 2d.; good four, six and eight-tooth ewes. 275. to 295. 9d.; medium four, six and eighttooth ewes, 225. lid. to 255. 3d ; two-tooth ewes, 255. 9d. to 275. 5d.; cull ewes, Bs. to 10s. 6(1.; mixed aged ewes and lambs. Ws - 10d - Fat Lambs.—There was an entry of 1850, and as butchers wore keenly in the market values were fully up to schedule, advancing on last week by la. to Is. 6d. a head. Extra prime heavy lambs brought to 345. 10d.: prime, 28s. 6d. to 325,,- medium, 255. 6d. to 285.; light, 235. 6d. to 255. Fat Sheep—A sjnall entry of eight races, compared to an average of 10 to 11. There were a few outstanding lines, but the bulk were medium to agiAl ewes. There was a keen demand by butchers, and values generally were above the export schedule. Big prime wethers wire better by 2s. a head, other sorts by Is. 6d. Extra prime wethers brought to 38s. 4d.; prime wethers, 325. to 345. 6d.; medium wethers. 28s. to 315.; light wethers, 245. 6d. to 275. 6d.; extra prime ewes, 30s. to 345. 7d.; prime ewes, 255. to 295.; medium ewes, 20s, to 245.: light ewes, 16s. to 19s; Fat Cattle.—A similar sized entry to last week—soo head. An improved sale resulted good cattle being up by 20s. a head, with other sorts a shade firmer. Primo medium weight beef made 38s. 6d. to 41s. per 1001 b., and in a few cases to 425. 6d.; medium. 355. to 375. 6d.; heavy weight, 335. to 335. 6d,; inferior. 255. to 28s. Extra prime heavy steers, to .£2O 2s. 6d.; prime heavy steers, £l6 to £lB 10s.; medium weight steers, £l3 10s. to £l5 155.; light steers, £9 to £l3; extra primo beefers, to £l3 17b. 6d.; prime heifers, £ll ss. to £l3; medium heifers. £8 15s. to £11; light heifers, £6 10s. to £8 10b.; extra prime cows, to £l3 17s. 6d.; prime cows, <£lo to £l2 10a.; medium cows. £7 10s. to £9 10s.; light cows, £4 10s. to £7. Vealers.—A very small entry, and improved sale. Twelve to 18-months sorts brought to £7 55.; good vealers £4 17s. 6d. to £5 10s.; others, 255. to £4 155.: calves, 15s. to 15s. Id. , „ . . Dairy Cattle—A good sale. Second to fourth calvers made £7 10s. to £9 10s.; medium, £6 to £7 55.; good heifers. £4 10s. to £B. Store Cattle—Several young lines of steers and heifers were forward, and sold well. Two and three-year ■ steers brought £6 18s. 6d. to. £1 7s 6d.; yearling to 18-months .steers, £3 10s. to £3 18s. 5d.; yearling heifers, £3 ss. to £3 Bs. 6d.; two-year heifers, £4 to £4 Ils.; best cows, £3 to £5 55.; bulls, £3 IPs. to £8 Its. t x Fat Pigs.—A moderate entry, but an excess of over-weight baconers. which were disposed of with difficulty. In the case cf one line of 30 odd the lightest pigs sold at 6s. 6d. a head more than the heaviest. Choppers brought £3 to £3 17s. 6d.; baconers, 50s. to £3 Is. (average per lb., 34d. to 51d.); porkers. 345. to 385.; heavier sorts. 40s. to 48s. 6d.,(average price per lb., 5Jd. to 7d.). Store Pigs—No change in values. Small sold at Bs. to 145.; good weaners, 15s.' to 17s ; slips, 15s. to 18s. 6d.; stores. 19b. 6d. to 28s. 6d.; extra large, to 345.

Dalgety and . Company report on the Carterton stock sale as follows:—A small entry of sheep and cattle was submitted to a good attendant of buyers Competition was keen throughout the sale, w-ith prices as follow: Good w.f. woolly lambs, 205.; cull w.f. lambs. 7s. 6d. to 12s. 9d.; b.f, lambs, 265. to 155.; cows and calves. £3 145.; store cows, £2 145.; yearling steers, £3 10s.; dairy cows, £5 ss. FEILDING ROMNEY SALE.

Dalgety and Co., Ltd., and Murray, Roberts and Co., Ltd , In conjunction, report having held the tenth annual Parorangl sale of Romneys at Feilding on Tuesday, when there was a large and representative attendance of the public, buyers being present from Gisborne, Hawke's Bay, Dannevirke, Nelson, >’anganui, Whangarei, and up and down the Main Trunk line. While competition was not particularly animated, there was a really solid demand for the studs, and a very fair demand for the flock rams up to a certain point. The top price of the day was 202 guineas. The following are particulars of the principal sales: —Stud one-shear Romney rams were purchased as follow:— Thirty-seven guineas, J. L. McLeay (Turakina); 67 guineas and 51 guineas, A. K. Overton (Taihape): 70 guineas, N. J. Short (Feilding); 25 guineas, A. McPherson /Turakina): 102 guineas. A. Robottam (Otane): 26 guineas. E. D. Parkes (Nelson); 33 guineas, O'Neill Bros. (Wanganui); 30 guineas and 35 guineas, Herrick Bros. (Herbertville); 202 guineas and 50 guineas E. E. Short (Feilding) ; 30 guineas, W. R. Hunt (Nelson); 22 guineas, N. J. I-amb (Whangarei): 27 guineas and 26 guineas, J. C. Field (Gisborne); 115 guineas. A. E. Sandilandg (Kiwitea); 26 guineas and 21 guineas, Evan. McGregor (Turakina). Flock rams sold at 7. 71, 8, BJ, 9), 10, 12. 14 to 15 guineas. The average for the flock rams was £8 195., and for the studs £45. MASTERTON A. AND P. ASSOCIATION MONTHLY MEETING. , Masterton, January 11. The monthly meeting of the Masterton Agricultural and Pastoral Association was held to-dav. Mr. G. H. Perry occupying the chair. ... , , The secretary reported that success had attended a further canvass of Wellington, which would be completed at an tarly date. A letter was received from Mr. W. Rayner, Maeterton, suggesting that inspectors should inspect sheep offered at ram fairs prior to sale. It was decided that no action be taken. The Wairarapa Rugby Union wrote returning two accounts in connection with damage done bv the public to two motor stalls and motor-cars at the Raufurly Shield Rugby match. Mr. R. J. Barton thereupon moved, and it was seconded, that the association take legal action against the union to recover the amount af £3B Ils. This was carried unanimously. Mr. J. R. Pilling. Masterton, was electid a member.

STUD SHEEP SALE i ewe show at masterton I GOOD SHEEP SELL WELL Dominion Special Service. Masterton, January 11. The Wairarapa stud sheep breeders’ second annual ewe show and sale was held •it Solway showgrounds. Messrs. Wright, Stephenson and Co.. Ltd., were the sole auctioneers. In number of stock the sale was below that of last year, but far choicer sheep were offered. There was a large representative attendance from all parts of the North and South Islands, and competition was very brisk for good sheep. The top'price for the day was 26 guineas for a second prize pen of one-shear Romney ewes by G. L. Allen, to a South Island breeder. . . ... As the result of the judging prior to the sale the' Argentine Cup was won by P. Southey. Manaia, Masterton, for a pen of Romney ewes, which was knocked down to a South Island bidder for 24 guineas. The same exhibitor took the Romney championship, while G. Allen, of Masterton and William Perry and Son. of Masterton. took second and third place reSP ln li the y ’Lincoln section, T. Anderson, Clareville. took all the prizes, as did H. Howard Booth in the Southdown class, besides the reserve champion award. Particulars of the sale follow:—On account of J. A. Mitchell (Longburn), three Romney ewes, 7 guineas; on account of J E. Howitt (Mangamaire). 25 One-shear Romnev ewes. 3 to 4 guineas; on account of A. P. Southey, 5 one-shear Romney ewes. 24 guineas; on account of Q. Donald (Tauherenikau). 6 one-shear Romney ewes. 15 guineas, 5 at 8 guineas; on account of Voss Bros. (Longburn), 20 one-shear Romney ewes, 6 guineas; on account of Knight and Murchie iMasterton), 5 Romney ewes. 3 guineas: on account of Win. Perry and Sons (Penrose), 5 Romney ewes' 13 guineas, five at 9 guineas. 5 at 5 guinetas 5 at 5} guineas; on account of G. E. Allen, 5 one-shear Roniney ewes. 26 guineas; on account of 0. R. Tooker (Featherston). 5 one-shear Romney ewes, 3 guineas; on account of W. 11. Harcombe (Masterton). 5 one-shear Southdown ewes. 41 guineas, 5 at 4 guineas. 5 at 3J guineas- on account of W. Howard Booth (Carterton). 5 two-shear Southdown ewes. 6 guineas, 5 at 6J guineas. 5 at 6 guineas, and 5 at 5 guineas; on account of A. Keith (Upper Plain), Southdown ewe lambs. 1J guineas. FARMERS’ WORKING COSTS HOW THEY HAVE RISEN STRIKING FIGURES Striking evidence of the increased cost of farming is contained in typical prices or farming commodities in 1914 and 1926 which have been collected by the New Zealand Farmers’ Union. These reveal an average iiicreas of from 100 to 206 per cent. One of the most serious problems which the farming industry has to face is the abnormal increase in production costs since the beginning pf the war.Increased wages to workmen have naturally compelled manufacturers to hand on the increased cost and at present farmers are paying about double the 1914, cost tor all the implements which they are using. The unfortunate phase of fhis increased cost is that the farmer cannot fix the prices of his wool, lamb and wheat to recoup him for the increased cost of production’. To a large extent the operations of the Arbitration Court are held to be responsible fcr the rise in production costs. The following figures are given as authentic and typical of the general increase in price for farming commodities :— 1914 1926. '£ £

BETTER HERDS NEED OF DAIRYING INDUSTRY VALUE OF PUREBRED BULLS The important matter of herd improvement is one that is engaging the attention of the New Zealand Farmers’ Union at the present time, as the future of our fiairy industry is closely wrapped up in increasing our dairy output. Our export of dairy produce totals 17 millions every year, but in the future will be sorely tried by foreign competitors, who, with ever-increasing production and improving organisation, are aiming at undermining our position in the principal dairy markets of the world. If there were no such thing as competition a ‘‘go-as-you-please’’ policy in the dairy industry, might prevail, but serious competition calls forth the very best effort to take immediate steps to raise the standard of typo of our dairy herds, increase in production must naturally follow. The elimination of scrub bulls and their replacement by better bred ones seems to be one of the initial phases of herd improvement. According to the latest statistics there are 58,936 bulls in New Zealand, two years old and over, but of these only 10.871 are pure bred. Among the 48,065 crossbred bulls there must be many many thousands that are a menace to our herds. The total of pui/ebreds is made up thus Jersey 6458 Friesian 1533 Shorthorns 745 Aberdeen Angus 572 Ayrshires 477 Mi Iking Shorthorns 474 Herefords 467 Red Polls 136 Guernseys 6 Alderney 1 Other Breeds 2 in Western Australia,. South Australia and in Tasmania, every bull over the age of 6 months must be registered at a fee of 10s. Registration may be refused if the bull does not comply with the standard adopted, and the bull must be destroyed unless the Appeal Board provided, directs the registration. In Tasmania it is proposed, after a few years, to disallow grade bulls and permit the use of purebred bulls only. Ireland is one of the latest countries to take up the matter of herd improvement, and in some centres the dairy farmers are calling upon the Department of Agriculture to introduce legislation for the registration of all bulls, which must be from dams with certified milk records. SYDNEY WOOL SALES MARKET FIRM AT LATE RATES. Sydney, January 11. • At the wool sales the market was firm nt late rates and good clearings were effected. Greasy merino sold to 32d : necks, to 271 d.; and crossbred, to z.Bd. The latter two prices are a record for the market./ FEILDING SHOW A final reminder to those intel ested is given that entries for the Feilding show And ram fair close on Friday next, January !3- Attractive prize-lists have been distributed far and near, and the committee of the association anticipates a record entry. Any person requiring a prize-list should send to the secretary for one without delay.

COMMERCIAL ITEMS WELLINGTON STOCK EXCHANGE YESTERDAY’S BUSINESS AND PRICES At the morning call yesterday, a sale of National Mortgage shares at 725. was reported, and at the afternoon call a sale of New Zealand Guarantee Corporation ordinary shares at 6s. lid. was reported. There was very little business offering, and it is evident that brokers have not settled down to work. The 4J per cent. Government stocks and bonds were wanted at £96 155., and the per cents, at £lOl 2s. 6d. Bank shares were steady. There were bids of £6 14s. for National Bank, 595. for Bank of New Zealand. and .£l4 10s. cum. dividend for Union Bank. Sellers quoted £l4 IBs. for Bank of Australasia, and 295. 9d. for Commercial Bank ordinary. New Zealand Guarantee Corporation shares were wanted at Bs. lid., and New Zealand Investment at 9s. Other bids were £6 for \V eb lington Woollen ordinary, 40s. for Tin Brewery, 365. 6d. for Burns. Philp and Co.. 28s. 6d. for Howard Smith, 10s. for Newton King preference 795. for New Zealand Farmers' Fertiliser, 10s. for Taranaki Oil, and 675. for Whitpombe and Tombs.

SALES IN OTHER CENTRES By Telegraph.—Press association. Auckland, January 11. Sales.—City of Auckland (1940) Si per cent., £96 IDs.; Bank ot Australasia, £l4 14s. 6d.: National Bank of Australasia. £l7 Is. 6d.: Bank of New Zealand. 595. , 4d.; National Insurance. 15e. 6d.; Bukemiro Collieries, 635.. 635.; Parker Lamb. 17s. 6d. -. Staples and Co.. 405.; Colonial Surar, £54 55.; Moanataian (con.), Is. Id. Christchurch, January 11 Sales—National Bank of Australasia (£5 paid), £8 9s. 6d.; National Bank of New Zealand. £6 14s ; Goldsbrough Mort. 475.; New Zealand Refrigerating (£1 paid), 16s. 9d.; ditto (10s. paid). Bs. 4d.; Carlton Brewery. 495. 6d. „ , Sale Reported.—Bank of New Zealand, 595. 4d. AUSTRALIAN PROVIDENT ASSURANCE The report of the Australian Provident Assurance Association. Ltd. for.the mn® months ended September 30 last confirms the announcement made in October last of the settlement of disputes regarding the management of the company. Tha report states that there has been extensive retrenchment with far greater efficiency and economy floor space. New business for nine months amounted to £783.882. carrying an annual premium or £28,963. For the previous twelve months the new business was £1,356.662, carrying an annual premium of £52,788. The policy of the board is stated to be a reduction, in the costs of new. business. Renewal premium amounted to £166,976. interest and rents £63,648, and dividend on shares in Life Insurance Company of Australia £9935. Total receipts were £262,404. Claims amounted to £45,024, and expenses to £54560. The sum of £55,384 is transferred to account. Insurance funds increased from £1,032,934 to £1,283,205, the latter being the actuary s tion. The balance-sheet shows assets of £1,712,752, and an establishment account of £277,500. The capital is £339,046. with bank overdraft <£27,818, other creditors £8976, and deposits £221,209. A sum of £40,903 has been allocated to provide bonus to policy holders. RURAL CREDITS . Rural credits are granted, in several of the Australian States, and in New South Wales the Rural Bank is a department of the Government Savings Bank. During the year ended June 30 last this bank made 332 advances for £598,879, by way of long-term loans on a credit, roucier system repayable by half-yearly instalments up to 31 years. In addition 2115. ad-' vances were made by way of overdraft for £1,996.923, an increase of 3® m the number of overdrafts aud £654,233 in the amount. Total advances of £2,595,894. representing 2447 loans, greatly exceed those of any previous year. Fixed deposits increased by £1.284.872. and current account balances by £248,347, the total deposits being £6,391.494. The net profit for the year (£68.146), was carried to the reserve fund, which now stands at £356,853. The loans and advances, according to the . balance-sheet, total £9,423.936 in 1926, and £8,695,148 in 1925. LONDON STOCK EXCHANGE. A.P.A. and “Sun.” (Rec. January 11, 5.5 p.m.) London, January 10. Bank of Australasia, £l4 10s.: Bank, of New South Wales. £42 13s. 9d.; Union Bank of Australia £l4 16s. 3d.; National Bank of New Zealand, £6l6s lOd; Bank of New Zealand, stocks £93 12s. 6d., shares £2 17s. 6d.; New Zealand Loan and Mercantile Agency Co. debentures £74 155., ordinary stock £94. • PRICE OF GOLD. London, January 10. The price of gold is £4 4s. lOid. per ounce. CHICAGO WHEAT QUOTATIONS. Chicago, January 10. Wheat futures: March 1 dollar 28J cents per bushel; May, 1 dollar 29? cents; July. 1 dollar 25? cents. CUSTOMS REVENUE. The Customs revenue collected at the port of Wellington yesterday totalled £6141. LONDON DAIRY PRODUCE Messrs- Joseph Nathan and Co. Ltd., have received the from their London house, dated January 10:-New Zealand butter. 1565. per cwt.:. New Zealand cheese. 965. per cwt. Both markets weak.

D. F. Ploughs 23 15 0 41 0 0 Harrows (4-leaf tine) 7 7 G 12 15 0 Cultivators (6 feet) .. 19 0 0 32 6 0 5 11. P. Engines for Shearing Plant 65 0 0 90 0 O Shearing Machines (3 stand) G5 0 0 110 O 0 Spare Parts (Shearing Machine) Combs and Cutters ... Aver. inc. 200 p. c. Aver. inc. 100 p. c. Wool packs 3 3*1 5 9 Kailway Freight on Wool per bale (100 miles) 5 7 7 0 Shearing (per 100 ..10017 6 Shell Burnt Lime (Loose) per ton 15 0 1 10 0 Crushed Burnt Lime (Loose) per ton . 1 0 0 1 10 0

Yesterday's buying and selling quotations were as under:— Buyers. Sellers. N.Z. GOVT. LOANS- £ s. d. £ 8. d. 4;Vn.c. Insc. Stk., 1938 96 15 0 97 5 0 5J n.c. Insc. Stk.. 1933 — 101 5 0 51 n.c. Insc. Stk.. 1941 98 10 0 — 41 p.c. Bonds. 1938 96 15 0 —— 5j p.c. Bonds, 1933 : DEBENTURES101 2 6 ■— N.Z. Breweries (stock and bonds) —— 1 3 5 BANKS14 18 0 Commercial of Aust (Ard.) 1 9 9 National of N.Z 6 14 0 New Zealand 2 19 0 3 0 0 Union of Aust, (cum.) 14 10 0 — FINANCIALN.Z. Guarantee Corp. ord. (8s.) 0 8 11 0 9 1 N.Z. Tnvst. Mortge. and Deposit 0 9 0 0 9 9 INSURANCE— ■ 1 0 is in MEAT PRESERVING— 1 18 9 WOOLLENWellington (ord.) COAL6 0 0 — 1 13 6 Westnort-Stocktou (ord.) 0 0 10 — 0 3 6 TIMBER— National BREWERIES- - 0 12 6 Staples and Co —— 2 0 6 Tui MISCELLANEOUS2 0 0 *— Burns Philp and Co. 1 18 6 — Electro. Zinc, (pref.) .. — 1 13 6 Howard Smith 1 8 6 — Newton King (pref.) ... N Z. Farmers’ Fer0 10 3 19 0 — tiliser 0 •—

N.Z. Paper Mills ......... Sharland and Co. — 0 16 9 1 1 J 0 10 0 — Whitcombs and Tombs 5 7 0 —• MINING— 012 Waihi 0 11 0