FARM & COMMERCIAL

Dominion, Volume 21, Issue 126, 25 February 1928, Page 12

FARM & COMMERCIAL

NEWS AND NOTES

AUCTION SALES TO-DAY. Phoenix Dining Booms, 29-31 Dixon Street, 1 p.m.—Sale ot furniture and contents (Ramsey Wilson and Co.). 216 The Parade, Island Bay, 1.30 p.m.— Sale of furniture (J. W. Foster and Co.) . MONDAY. 21 Grey Street, 3 p.m.—Sale of factory site, Miramar (S. G. Nathan und Co.). „ , Pahiatua, 11.30 a.rn.—Supplementary ewe fair (W.F.C.A.). 1)8 Manners Street, 2 p.m.—Sala of household furniture, etc. (Ramsey Wilson and Co.). 70 Ellesmere Avenue, Miramar, 1.30 p.m.—Sale of household furniture (E. Johnston and Co.). TUESDAY. Dominion Farmers’ Institute. 11 a.m.— Sale of 34 home sites, Belmont (S. G. Nathan and Co.). 21 Grey Street, 11 a.m.—Sale of residence, Kelburn (S. G. Nathan and Co.). The Farm, Alfredton (near Eketahuna). 11 a.m. —Dispersal sale of “Moroa” Jersey stud (Wright, Stephenson and Co.). 26 Puriri Street. Miramar, 1.30 p.m.— Clearing sale of furniture and effects 11. AS. Leighton). 164 Cuba Street, 10.30 a.m—Sale of unredeemed pledges (J. AV. Foster and Upper’ Hutt Saleyard-. 1 p.m.—Stock sale (Dalgety and Co.). 19 Farm Rond, Northland. 10.30 a.m. — Sale of household furniture (E. Johnston and Co.). TALLOW MARKET Messrs. Dalgety and Co.. Ltd., report having received the following cablegram from their London house. under date February 23:—Eight hundred and eightyeight casks offered; 295 sold. Prices. 6d. per cwt. lower.

FARMING INTERESTS WANGANUI WOOL SALE GOOD COMPETITION RANGE OF PRICES BY Telegraph.—prei-j association Wanganui, February 21. The following is the official range of prices at the Wool sale which- commenced on Thursday ulglit:— d. d.

BROKERS’ REPORTS FARMERS' DISTRIBUTING COMPANY. The New Zealand Farmers’ Co-operative Distributing Co., Ltd., report as follows: —We held our third wool sale of the season in Wanganui on Thursday evening, the total offering consisting of 16,885 bales, of which our offering comprised 2230 bales. The selection was well up to standard, there being some bright lots throughout our catalogue, which was submitted about 9 p.m. There was a full attendance of buyers, and a most animated ami keen sale eventuated. After the splendid clearance of crossbred wools that had been effected at Wellington and Auckland, it was expected that competition would be keen. These expectations were fully realised, a large bench of buyers bidding eagerly for each lot submitted. The bidding was at times particularly spirited, the whole tone of the sale being buoyant, ami prices, as compared with the sale held last month, were distinctly in sellers* favour. Fine wools were from Id. to lid., and occasionally 2d. per lb. dearer, while medium and coarse wools advanced from 3d- to Id. Lambs’ wool was in good demand, as were okirtings. Generally speaking, prices may be quoted as fully on a par with Wellington and Aaiekland. The feature of our sale was the ext client competition obtained for JF tn account of Mr. D. Ferule, the best lots of the clip selling from 20d. to 23d. • Following are some of our best rcaiisa | tions:—AO. E 15id. : RB/11, E 16d.: Hum merhill, A 173 d„ lambs 17Jd.; WFE, E 173 d.. lambs A 23Jd., AE 174 d.. lambs I 22i1.; Wineglass/ERG. A 18)d., lambs 224<1.; IR/A, half bred 21(1., 811 and E 173(1.; JB/ Teaunui, A IEJd., lambs A 21id. Kelsey. H and E 163<L; Kalmai, E 17Jd.; ACM, lambs A 19Jd.; Birnam, BA 17ad.; Omuia, A 18d.; Oeta, lambs A 224(1.; 3A/Bcllview, E 184(1.; AT/Lynwood, EA 18(1.; LAII/U, E 172 d.: M/O. E 163<1.: Kaukatea. lambs IBd.; AIIW, E 163 d.; MP/U. A 183 d.; NC7 Sprove, II 19d.; Rlnga, W 18id.. lambs 21id.; HYL/Dalvey, HA 18id., E 173(1.; Appin, II 17d.: WCR DX. It 23d.. II 20(1.; JF, HAA 23(1., HA 19Jd.. AA 22(1.. A 191<1.. EAA 221(1.. EA 20d.; ZHM. A 193 d.; FM, HA 20i(1., A 19jd.. lambs 21b1.: Duuvcgan, E 163 d.; FGH. H ISJd.; WWDS/Marton, E 161 d.; 77/RE. 17M.. lambs 203 d.: 11D/M. E 163(1.; A/Brooklyn. H 19M., E 171(1.; Shirlev E 16Jd.; QP/C, E 173 d.; lIF/Bankview, W 183(1.; GAG. HA 194(1., A 193(1.. lambs 22d.; M/TOD. E 17Jd.; ML, H 19(1., EA 18d.; E 173 d.: TTB. A 18id.. lambs 221 d.; DWM, H ami E 163 d.; TWW/Wellbury. E 17»d.: AF/M, crossbred 17d.; ATI/He Mati. A 181 d.; Wahroonga. H ami E 17jd.; GDG. H 183 d., A 193 d .: AP/C, DN 211(1.; A/Hiwi. lambs A 223 d.; Te Hula. EA 173 d.. DN lambs 221(1.; Various, down 253 d.; ASC/The Ngaios, E 163 d.

LOAN AND MERCANTILE AGENCY. The New Zealand Loan and Mercantile Agency Co., Ltd., report as follows Our catalogue comprised 2850 bales, and we disposed of 99 per cent, under the hammer. There was a largo bench of buyers, representing the United Kingdom. Continent, ami America, us well as local mills and scourers. Competition was keen from the commencement, with the result that excellent prices were realised, and vendors must feel highly eatisfid with the prices obtained. The wool opened up in good condition, though unfortunately many dins contained a lot of seed which militated against them. For clean, bright lots showing quality, competition was exceptionally keen, and prices, as compared with the preceding auction at Auckland, ruled from par to a shade firmer. Lambs wool, when picked over and free from seed, also realised splendid prices, but for scedv lambs competition was erratic. "The following are a few of our principal sales:—Pawai. H 17d.. A 17Ad.. B 15i(L, E and W 17id.; PS/W/Omata. A 17id., B 15d„ crossbred 15Ad.: Wliaka, E 17id.; Arawa. lambs, passed, Taukoro/I, lambs 14jd.; CMC, lambs passed; JC/ Opaea. H Sod„ A 181<L, B 17id.. C 16Jd.. M 151 d.; JRB, II 16id. crossbred 16Ad.; JHB/T. E 17(1.; 3C/G, H 18d.. E 16h1.; 08/O. lambs, passed; St. Andrew's. Corriedalo H 22d.. Corriedale E 2314., Corrindale EB 104(1.. Corriedale lambi 183 d.; HRW. A 19(1.. 14 171(1.. C 16(1.: Kcvern., E 16d.: Rotowliero, EA 16Jd.; D Bros/T, H 13Ad.. A 191(1.. B 17i(l.; MXV. Roiuney E IBd.. E 16d.. Ronumv pieces 9d.: 11 and S. lambs AA, 1644.: M and S. E Pt. 11. 173 d.; Rotomatc/K, E 163 d.. W Pt. it 18Jd.: WB/Paripapa. H Pt. 11 18’.d, E 163 d., F. 163 d.; DBM, II 17W , E i7d.. W 174.. (irutchinftß 126(1.. lambs 184 d.: TH/N. IIA 211(1., WA 18d.. A 20(1.. B 174(1.. O 16|d„ noeks 16a<1.; HR/Cardcross. HA and HB 174 d.. EA and EB 1744.; JFF/O, H 17Jd., fln« 1644.. L 13id.; 1111, E and W 15Ad.; AGC'M. II 16d.. crossbred 15id.: Mt. Zion. lambs, 20d.; Cairn. E 16id.. E 153 d.; Avoca. E Pt R 17Jd., W 17d.; CH/W. II 18d„ E and W .17:14.; S and G/Otuiti. EB 17(1.. EC 153 d.. W 16Jd.. lambs 18(1.: Monovale. lambs 22Jd.; Peh.i. H 17d.. E 16Jd.; Oneida, Romney iambs 19jd.; KJ/M. TJ 17d.. A 17Jd„ U 17(1.; Santoft, EA 154 d.. EB 14’.d.. EC 13d.. 8 12d.. O Pt. S 12d„ bellies and nieces 1014., lambs A 164.: DISC;, FA

173 d.; Westoe. EA 171 d„ EB 161 d.. M Pt. EB Is*d.; Opeke. E 17(1.; FL. crossbred 15id.; The falls. E J6‘.d.; Tanuparii. BA 173(1.. WIJ 161(1.. WC 151(1., EA IBjd.. EB 163 d., EC 16d.. Ctd. 153 d.. dingy 163(1., pieces A 15d.. pieces 13 81d. bellies 121<L, crutehings 121(1.. lambs A 19Jd.. Runbs 19id.; Jloukahu. 11 143 d.. crossbred 14Jd.; JG. crossbred 15.;d.; Gloonan crossbred 163 d.; Tuloehgorum. EA ami HA 19id., HH 18d.. EB 173 d., lambs A 23d ; Korac A 173 d.; HD/Tilbury, I*. and I 16(1.; PMD, halfbred II 2336., HAA 22(1. HA 21J( .. HB 164(1 EAA 213 d., EA 18d.. EB 17,|i1.. EC 16(1., WA 19Jd., WB 171(1 WO 163dpieces A 15(1.. pieces B 8J(1. bellies 133 d.. lamlis A 211(1.; GW H'Moawliaugo. EA ami EAA 174(1- Ell 163 d., ED 16d- pieces A 133 d.. bellies 12(1., iambs A 193 d. lambs B 16(1. pieces 14(1. ;Pultnl>a. pieces A 133 - bellies t2d.. lambs A 19ld„ EA 184(1.. EB I7id„ EO 16(1.. pieces 14d.. lambs 11*161(1.; G in mark, EA 18id.. pieces 14Jd., lambs A 20d.; OL/Rm. E ami W Lid.; CB/li A 194 d., B 1716. Binned Wool.-Down A A 19(1- HAA 211(1HA 19(1., AA and A 183 d.. H and lib 17i .. O and HO 163 d.. HMAA ami HMA 173(1.. llAand MA 163 d.. DA and DB 151.(1.. AO 154 d. EC 14(1.. lambs SA 153 d.. Std. crutchin*gs 64(1.. AA H ami P 13Jd- A bellies 12i(i E B and P 10d.. S B and P HJdB nieces 9Jd., lambs AA and lambs A 22',d lambs HAA and lambs BA 15Jdlaiubs EA Iflid- locks 8d„ BO 14d.: GTP. bonthdown 19JiL, crossbred 16 2 d. lanibu 191 d • A JR. Southdown, passed; GI over P iIA 173 d.. HB 163 d.. AA 193(1- A 173 d.. B 163 - lambs A 18d„ pieces A 12d.

WRIGHT STEPHENSON AND CO., LTD., AND NEWTON KING. LTD. „ Messrs. Wright. Stephenson and Co., Ltd., ami Newton King, Ltd., in conjunctive offered 3800 bales out of a total of about 17.000. We report an excellent sale, bidding being keen throughout from a full bench of buyers. Wool producers have every reason lo be well satisfied with the prices obtained, and those who were disappointed by being shut qul of January sale obtained full satisfaction in the shape of increased prices. 11 Inle super wool sold on a par with recent safe-; in other quarters, ordinary wools were distinctly firmer, .and sold at a very appreciable advance on January prices. All sections of the trade competed eagerly. Bradford again being well to the fore, as were the Continental buyers on suitable wools. Very little wool suitable for the American market was offered. , Included in pur catalogue was the clip grown by Mr. D. Cullinane, Taiigiwai. comprising over ICO bales of crossored and half bred wool. This clip turned out in excellent condition, some of it bringing 27Ad., which is a record price tor any Wanganui sale since the boom year. This particular lot of wool was off lia.fbred ewes, which shore an average of nine pounds each, and is an excellent illustration of what can be done by nreeaing on the right lines on suitable cc.unr We had a large quantity of binned wool, which it was not possible to offer nt earlier sales. This met with the kcomcst competition, proving that it nays the small man to pool with his neighbour with a view to doinrr away with srnnll lots. Fine crossbreds brought up 'o nnd ordinary lots ranged from 16d. to 22d. . , • iFollowing are some of the prices riansed by nst—Badeno. 27 bales IT Z 7 bales W 173 d., 44 bales E 165 d.. 4 bales crutchings 12d., 10 bales lambs 19? d.; Ardshiel. 6 hales Lambs 22d.; One Tree Hill. 13 bales A 163 d.. 10 bales B 16d., 15 bales Southdown 24?<1.; OP—H. 46 bales crossbred 16d.: Ararewa. 10 bales It 13id.. 62 bales A 151 d., 5 bales lambs 13d.. 4 hales bellies BAd.; PXB. 6 hales HA 183 d., 22 hales FA 17 J »d., 4 bales W 16d., 13 bales E 163(i- 13 bales EB 16(1.; Kapara, 10 bales AA 163 d.. 13 bales A 153 d.. 6 bales B 15(1.: Waitui. 10 bales crossbred 153 d.; ALH 7 bales H 19(1.. 52 bales EA 174 d., 7 bales EG 16(1., 8 bales Lincoln 16R1.; FE. 4 bales Romney 23? d., 13 bales E 173 d.: Aberfeidy. 4 bales HB 173(1-10 bales B 163 - 6 bales crossbred 15jd„ 8 bales lambs 163 - 8 bales bellies 13d., 7 bales nieces 14id.; O/Tangiwpi. 3 bales Merino 24£d.. 8 bales HA.A AAA 273 d.. 22 bales A A 24:?d., 11 bales A 22d 10 ba’cs B 17?.d.. 12 bales crossbred 2Ud’ 11 bales lambs A 20d.. 5 bales pieces A 17Jd.. 6 bales bellies 16*d., 4 bales necks 183(1.; Brookvale. 4 bales H 17W. 13 bales Lincoln E 15Jd.; AM/88. 18 bales E 16»,d.; AMO 14 bales E 16d.; PF— M. 15 bales crossbred 16d.; Piko. 8 bales crossbred 16d.: Aotea, 25 bales WA 17d • Stratliend. 12 bales crossbred 173 d.; RM/MV. 11 bales E 163 d.; JVB. 8 bales E 163 d.: LN/SU. 4 bales crossbred 17(1.: EK/1. 8 bales crossbred 161(1.; AM/W. 12 bales E 164 d.; 6 bales H 173d--32 bales E 153 d.; IK/PKT 15 hn'es n 183d--19 bales E;A 18(1- 59 bales IVA 17>d.. 15 bales crossbred 16Jd- 4 bales crossbred 154d'.. 7 bales pieces 141 d.; DM'B, 39 bales E*l7d.; Kaituna. 7 bales HA 174(1., 4 bales HB 15d.. 7 bales A IGJd- 4 bales WA 153 - 7 bales WB 153 d.. 6 bales B 15d- Subfiles G 144(1.; Lambbill. 18 bales A 163 d.. 8 bales crossbred 143 d.: Morvenhills. 5 bales IT 18d., 17 bales EA 18d„ 6 bales EB 164 d.. 4 bales lambs 24J<1.; Kea 6 bales E 174 d.; Toatoa. 10 bales HAA 183 - 6 bales HA 163 - , 15 bales crossbred 21d., 24 bales A A 18d.. 8 hales A 163(1- 7 bales B 154(1.. 10, bales D 161(1. : JVB.* 6 bales E 154 d.; G/0. 11 bales A 174 d.. 7 bales B 163 d.. 7 bales C 159'1.; Kukuta 7 bales Poutlidown lambs 23d., 5 bales Romney lambs ’Cid.: Enstmirlc/Fp, 6 hales lambs 22(1.: GFB. 4 bales ITA 18Jd.. 5 hales line crossbred 191 d.. 11 boles A A 173 d.. 11 hides A 169 d.. 11 bales B 153 d.: CWP 6 bales HAA 22.(1.. 10 bales A A 19d.. 5 hales .1 17(1- 4 hales B 163 d.; Tkitara. 4 bales lambs 20d.; Marshall. 8 bales lambs AA 23(1.. 4 bales iambs A 20d., 5 bales lam’'s 17d.; PDT. 4 hales Southdown crossbred lambs 193 d.: JG/A. 8 bales Romnev A 161 d.; PB/Oaehill. 6 bales E 16.3 d.; F. 'Craigie-Lea, 5 hales M 153 - 7 bales B 16’d- 6 bales A. 1614,. 6 bales A A 173 d.; Manawa. 13 bales B 1614.. 8 boles A 174.. 8 hales A \ 1734.; OKO. 11 boles crossbred 1714 • Kahnra, 13 boles crossbred B 1644.: C/Tangiwai. 4 bales halfbred lambs. 173 d. DAIRY PRODUCE LONDON QUOTATIONS London, February 23. There is an improved demand for butter. Choicest salted New Zealand, 161 s. to 1665.; exceptional, IGSs. Australian, 1585.; exceptional. 160 s. Unsalted —New Zealand, IGSs. to LOs.; Australian, 1565. to 1605.; Danish, ISSs. Cheese is quiet. New Zealand, 91s. to 955.; Australian, 9fe. to 925. Mr. W. H. Kent has received the following cabled advice from Messis. A. JMills and Co- Ltd.. Loudon, under date Feliruary 23:— . Butler.—The butter market is firm with finest New Zealand selling at leesand first grade 1645.. and finest unsalted from ’7os. to 172 s . , Cheese.—The cheese market is steady at 95- for New Zealand finest white and coloured, and at 945. to 955. for first grado white and coloured. Messrs. Dnlgetv and Co.. Ltd report having received the following cablegram fnjn their London house, under date February 23 (last week's quotations m parentheses):-- > * Butter.—Danish. 190 s. (183 s. to 184 s.); New Zealand finest salted. 161 s. to 1665. (16 n s to 1645.); Australian finest unsalted. 1565. to 160 s. (158 s. to 160 s.): salted. 1565. to 160 s. (156 s to 160 s.); Australian G. 150 s. to 152 s (150 s. to 1525.); market is better. Cheese.—Australian cheese, white and coloured, 91s. to 935. (925. to 935.); bew Zealand white and coloured. 945. to 9js. i94s. to 955.); spot price lor Canadian white 100 s. to 104 d. 'loos. to LC4s.); coloured. 935. to 102 s. (100 s. to 104 s.); market quiet. , , „ ~, Messrs. Joseph Nathnn mid Co., Ltd., have received the following cablegram from their London house, dated February 23; New Zealand butter, 161 s. to 1665. per cwt.; New Zealand cheese, no change. PRODUCE MARKETS CANTERBURY BY TELDGUAPn -PRESS ASSOCIATION Christchurch, February 24. Wheat is scarcely holding the mid-week quotation. Few purchases have been made at ss. sd. a bu-shel on trucks, but fanners arc very averse to breaking the ss. 6d level. Millers are taking delivery of wheat l?>rought. forward at 6s. down to ss. 9d. Though offerings are fairly heavy, it is apparent that a good proportion of the growers are preferring to hold sooner than accept the present offers. ... i Bran and pollard have been increased in price, the former now being £6 10s. a ton, and pollard £9. Stocks are low and there is a general demand. Offers of oats have eased down, due no doubt to the concentration of the mills on wheat thrashing. Gartons are quoted at 3s. on trucks though there are ‘ow buvers at that figure F.o.b . s.i. values arc 3h 6(1. for A's. and 3s. 4d. for Bs. April-June delivery Algerians hove eased and lines have been purchased at Za. 7<L on trucks. The scurry lo secure peas for the March boot has kept this brunch of produce viell to the point, and sales were made to-day nt 6s. tld. f.0.b.. s.i. Ihe Home advices show n slightly weaker tendency There is verv little Akaroa cocks.not offering but Phi ins seed is coming forward Peninsula seed is ud( ton at BAd- a lb. ’t is considered that this leaves no margin for dressing an<l selling at 1.2 d. n. lb . Perennial rvegrrn; remain- firm, with sales at ss. 3d. a bushel f.0.b., s.i. There is no change in the potato markef mid an <-fn*e I’.bsmmo of siT'"'Y* Hon In some evartor® that, though « i ivertirc vic’ll would am.Hl nrodtico mine than’ a qiillH iency of poHitock. ml morn"e iq tmlikelv Most f.’rmera arc■ ook in- for £4 on iriicl-s. Off-rr of £3 ’.Co. urn nor meeting with business. The onion market hili eased fo ■•nrnnintfi” which 3re HOW <UlOt?<l 111. same as main deliveries to £6 a ton on UliAlU.

LIVE STOCK SALES FEILDING BY Telegraph.—Press association. Feildlng, February 24. At Feildlng stock sale there was a medium yarding. About 10,000 sheep were offered, consisting mainly of breeding ewes and lambs. Taking condition into account, prices were on a par with last week's sale. .Practically all the jarding was quitted. Two-tooth ewes were in good demand. A fair yarding ot fat sheep met with a Sood demand. Fat lambs made from 16s. 6(1. to 275. (id.; fat lambs 16s. 6<l. to 275. Od.; fat ewes, 13s. to 215.; fat wethers, 255. -Id. to 28s. Store sheep: Four and five-year ewes made up to ISs.; two-tooth ewes, 28s. 6d. to 525. 10(1.; two-tooth wethers, 21s. lOd.; li.f. shorn Imnhs. 165.; mixed-age ewes, 12s. Cd. A good line of four-year ewes sold at 245. 7d. The small yarding of cattle offered sold at fairly satisfactory prices, though not up to expectations. Messrs. Dalgety and Co., Ltd., report a good yarding of sheep at the \Vnikanae sale on Thursday, There was a good attendance, and a total clearance was effected at late rates. Quotations are: Shorn lambs, to 145.; four and five-year ewes, 21s. to 225. 3d.; forward wethers, to 235. 6d, Messrs. Wright, Stephenson and Co., Ltd., report as follows on the Brancepeth sale:—Wo held our annual sale on Thursday at the cross yards, when we offered a yarding of 8000 sheep, ehiefly breeding ewes. There was a large and representative attendance, buyers being present from Manawatu, Pahiatua. and South Wairnrapa. As usual with this sale, we yarded some exceptionally good ewes, which solicited keen competition, and vendors in most cases met the market. We have to report that, with the exception of a few lambs, wo made a total clearance at satisfactory, prices, as follows:—Account G. C. Williams, Te Parae, five-year owes to 21s. 6d.; account Ma.maku. four and five-year ewes 21s. to 21s. 6(1., two-tooth ewes 28s. Id.; account R. F. It. Bcetham. Brancepeth, five-year ewes 19s. 6d., six-year 18s. 6d four-tooth ewes 295. 94.. six-tooth 285.. two-tooth 285., fouryear ewes 225. 6d.. two-tooth wethers 215.; account O. 11. Beetham, five-year ewes 19s. 44., six-year 17s. 6d.. four-year 245. Id., six-tooth 275. 9<1.. two-tooth wethers 215.; account Mrs. Russell, five-year ewes 19s. 6d., two-tooth ewes 21s. 6d.; account Mr. Cooper, five-year ewes 15s. 3d. to 16s. 4d.; account McKillop Estate, five-year ewes 17s. 8(1.; account Luxford Bros., four and five-year ewes 175., two-tooth wethers made from 19s. to 21s 6(1., fourtooth wethers 21s. to Z3s. 6d.. w.f. lambs (woolly) 12s. 6d. to 14s. 2d., small 7s. 84. to 9s. lOd., shorn 9s. 4d. to Ils. 6d.. small ss. 6d. to Bs. 3d. PLIGHT OF DAIRYING INDUSTRY SHRINKAGE IN RETURNS PREDICTED Dominion Special Service. Auckland, February 24. "I am inclined to estimate that there will be probable shrinkage of £2,000,000 in the return of the dairying industry this season from what might have been legitimately expected had we had an average season,” said Mr. IV. Grounds, chairman of the Dairy Export Board, who arrived in Auckland from Wellington this morning. Mr. Grounds stated that the continuation of the drought was probably the most serious aspect of the industry at the present time. While it had not affected other districts to the same extent as in the Auckland province, they were all feeling the unusual season. MAIZE, WHEAT, AND FLOUR DUTIES LETTER FROM MINISTER Dominion Special Service. Auckland, February 23. The economic taetors attaching lo the duty on maize, wheat, ami flour are lurthor discussed in letters which have recently been exchanged between the Auckland Chamber of Commerce and the Minister of Customs (Hon. W. D. Stewart). A letter from the Minister in reply to the Chamber’s latest representations was read at the council meeting to-day. "I admit freely,” stated the Minister, letter, "that more or less stabilised prices of wheat and flour which are expected to result from the new duties will in time of failing prices abroad feud to keep tho mice of bread higher than it might have been otherwise. .On flie other hand, in time of rising prices they will have the opposite effect.” The Minister appealed for a fair trial of the new sliding scale method of adjusting conflicting interests. Noting the council’s objection to the exemption of crushed maize from the schedule on the ground that it is unfair to those who have installed crushing nnd grinding plants in New Zealand, Mr. Stewart rays this was a concession to those interested in a generous supply at reasonable rales of pig fodder, and was agreed to by the majority of represent at ives of the maize growers and pig farmers. FROZEN MEAT Messrs. Dalgety and Co., Ltd., report having received the following cablegram fi (Xi their London house under date February 23:*— , Lamb.—New Zealand prime Canterbury lamb. 281 b. to 361 b„ 10Jd.; North Island. 281 b. to 361 b.. 9fd.; Canterbury. 361 b. to 421 b., HP.d.; North Island. 361 b. to s2lb.. 9J<l.; Canterbury, second quality. g|U.. North Island, second quality. 8.(1.; Canterbury. 421 b. to 501 b.. 10(1. Market weaker: demand moderate. Mutton.—New Zealand prime North Island mutton, 481 b. to 561 b.. .74.: North Island. 561 b. to 641 b.. 6*,d.; North Island, 641 b. to 721 b.. 5Jd. Market firm owing to light stocks; demand steady. Beef—New Zealand prime ox beef: Hinds 4Jd.; fores. 3gd. Argentine chilled: Hinds, 6Jd.; fores, 4Jd. Demand moderate; quotations nominal. Pork. -English porkers, 801 b. to 100 b„ 10(1.; New Zealand porkers. 801 b. to 10011>., 7d.- 1001 b. to 1201 b.. 6Jd.; New Zealand baconcrs, 1201 b. to 1701 b., f-Jd. Australian Lamb.—G.A.Q. Australian lamb, 28H>. to 361 b.. 9d.; third Australian lamb. 6Jd. Market unchanged; demand 11 Aun'ralian Mutton.—F.A.Q. Australian mutton. 301 b. to Sslb.. 54. Market unchanged; demand limited. Messrs. M. A. Eliott, Ltd., Palmerston North have received cabled advice from London of the following Smithfield prices for the week ended February 24. These prices are on the "delivered” basis, that is Including storage charges, cartage, etc Best North Island prime litmlis, miller 3<;lb., OJd. per lb.; ditto. 3«-421b., !)’,!.; ditto. 42-Jolb.. 9Jd. Ordinary North Islam! lambs, under 421 b., 91(1.; ditto, second quality, under 421 b., OJd. Best North Islam! wethers and/or maiden ewes. 4S-561b. and 564141 b., Old.; ditto. 647"lb and over 7211)., 53(1. Ordinary North Island wethers and/or maiden ewes, 48tilllb. ami 56-6111)., Old.; ditto, 6-1-7211). ami over 721 b.. ojd. Remarks: Prime lamb, no elmnge. Second lamb, Jd. higher, wethers, no change. Ewes not quoted. Beef not quoted.

COMMERCIAL ITEMS WELLINGTON STOCK EXCHANGE YESTERDAY’S BUSINESS AND PRICES At yesterday morning's call of the Wellington Stock Exchange sales were reported of New Zealand Breweries (bonds) at £1 3s. 3d. and Auckland Gas (fully paid) at £1 2s. 4d. At the afternoon call sales were reported of National Bank of New Zealand at £2 18s. lojd. and £2 like, and Auckland Gas (paid) St £1 2s. 4d. Following are the latest buying and

SALES IN OTHER CENTRES BY Telegraph.-Press > n'>rt»r;o?> Christchurch, February 24. Sales: Commercial Bank ot Australia, 275. Ud. (two parcels): National Bank of Australasia (£5 paid), £8 18s. 6d.; National Bank Of New Zealand, £6 10s., £6 19s. Cd. (three parcels); Bank of New Zealand, 58s. 9d. (two parcels), 58s. lOd.; National Insurance, 15s. Bd.; Staples Brewery, 375. 4d.; Dalgety and Co. (Melbourne register), £l3 145.; Goldsbrough Mort. 48s. Sd. (odd lot); New Zealand Refrigerating (£1 paid). 15s. 6d.; Christcliurcb G:l3 (7s. Cd. paid), b&. 9d.; New Zealand Breweries. 425. 9d. Sales reported. Commercial Bunk ot Australia, 275. (Id.: National Bank of Australasia (£lO paid), £lB Is.; Bank of New Zealand, 5Ss. 10id. (tiro parcels); National Insurance. 15s. Sd.; Auckland Gas, 225. 3d.. 225. 4(1. Auckland, February 24. Sales: Commercial Bank of Australia, 275. 6(1.: National Bank ot Australia. £18; South British Insurance, 58 s.; Waipa Coal, 17s. lid.: Northern Steamship, 15s. Id.; Staples Brewery, 375. -‘id.: Holden's Motors, 295. 3d.; Touson, Garlick, 10s. 9d.; Oliincmuri, 7s. Id. BRITISH BANKS MERGER News of another banking merger is contained in the latest bulletin of the Department of Overseas Trade received by His Majesty’s Trade Commissioner for New Zealand. The Bank of Liverpool and Martins have entered into a provisional agreement with the Lancashire and YorkshVc Bank to take over the entire business, goodwill, and assets of the taTtcr, with a view to amalgamation. Tae terns of the purchase are that the shar-ihoLlers □f th-? Lancashire and York>aire iai.is shall receive for each £2O shaie. »;12 paid, fully-paid shares of X‘l eac” in ifie P.-ink of Liverpool and Martins, plus • cash payment of £1 per share. Tho Lancashire and Yorkshire Bank was established in 1872 to take over the Manchester business of the Alliance Bank, and since then has absorbed the Bury Banking Company, the Preston Union Bank, Adelphi Bank, West Ridina Union Bank, and the Mercantile Bank of Lancashire. It has 150 branches and agencies in the North of England and the Isle of Man, principally in places where the Bank ot Liverpool is not represented, its capital is £1,207.872, and there is a reserve fund of the same amount. The at December 31 last amounted to a total of £26,418,233. The Bank of Liverpool and Martins is tine older and larger institution. It was established ni 1831, ana has absorbed from time to time a number of institutions. The name chosen is Martins Bank. Ltd., which is an appropriate choice, having regard to its brevity and the long nnd honourable, association of Martin with British banking. . The head office of the bank will remain in Liverpool. HERCULES MINES CONSOLIDATED. LTD. The mine manager at. Reefton, in a report dated February A), states: ing the past two weeks the battery level has been extended 191 t.; for the past five feet we have been driving on reef from lft„ to Ift. 6in. wide. To-day it is from 2ft to 2ft 6in. wide, and lias every appearance of widening, and is now very wet. showing that we are on the Fame block as that driven on in the level above.” CUSTOMS REVENUEThe Customs revenue collected nt tne port of Wellington yesterday totalled £5779.

Extra fine crossbred, 48/50— to 24 to 23 to 10 Super Average Inferior 23 17 Fine crossbred, 46/48 — Super 20 to 22 Average .17 A to I'.H Inferior 15 to 17 S Medium crossbred, 44/4(5— Super 18J to 1!H Average 16 to IS Inferior and seedy .... 13 to it; Coarse crossbred, 40/44— Super to 17 Average i.» to ic| Inferior and seedy ... 13 to 15 Low crossbred, 415/50— Average 111 to 16 Inferior and seedy ... 13 to 144 Lambs— Fine 18 to 25 Medium Hi to 1!) Seedy and inferior .... Bellies and pieces, crossbred 10 to 14A Good super 13 J to 16 Low to medium 8 to 13 Orutchings— Medium to good 11 to 13 Inferior and seedy .... to 11

selling quotations:— Buyers. Sellers. N.Z. GOVT. LOANS— £ s. d. £ s. d. 4$ p.c. Ins. iSlk., 1939 97 — 6 — 4* p.c. ditto, IMS ... 97 2 6 —- 5j p.c. ditto, 1033 ...100 i 6 101 0 0 5* p.c. ditto, 103(1 ... 101 5 0 5} P»c. ditto, 1941 ... — 99 5 0 4A p.c. Bonds, 1939 .. 97 G — 4} p.c. ditto, 1938 ... 97 — 6 —• ol p.c. ditto, 1936 ... —• 101 5 0 DEBENTURES— N.Z. Breweries (bonds) 1 3 0 — Wanganui City, 5J p.c. (1945) 100 0 0 — BANKS— Commercial of Aust. (ord.) 1 7 3 Commercial Banking Co. of Sydney — . 26 5 u National of N.zC 6 19 3 New Zealand 2 IS 9 2 19 «> Uninn of Aust — 14 16 0 FINANCIAL— Goldsbrough Mort .. 2 s 6 — N.Z. Guarantee Corp. (ord.. £s.) — 0 9 0 Ditto (pref.) 1 0 — N.Z. and River Plate 1 0 — Well. Trust, Loan .. G 13 6 — Well. Invest. T. & A. —• 0 11 0 INSURANCE— National — 0 15 9 New Zealand 2 0 .i 2 1 3 South British - 17 10 — MEAT PRESERVING— N.Z. Refrigerat. (10s.) 0 7 10 TRANSPORT— Hmldart-Parker (ord.) (cum. div.) 2 10 0 Ditto (pref., cum. div.) 1 1 0 •— P. and O. def. stock.. — 250 0 0 WOOLLEN— Wellington (ord.) ... — 6 4 0 COAL— Westport-Stockton (ord.) 0 1 2 Ditto (pref.) —— 0 3 5 TIMBER— Levland-O’Brien .... 1 14 6 — BREWERIES— Staples and Co 1 17 0 1 17 9 Tui 2 0 0 2 10 0 Ward and Co. 1 15 0 — MISCELLANEOUS— British Tobacco (Aust.), (ord.) _ 2 0 0 Burns. Philp, and Co. 2 0 — Dental and Medical Supply — 3 0 16 0 Howard Smith .... 1 8 —— N.Z. Farmers’ Fertiliser 4 0 0 — N.Z. Paper Mi’J' .... — 0 17 0 Sharland and Co. (ord.) — 1 0 9 Wilson's Cement .... 1 17 9 —