FARM & COMMERCIAL

Dominion, Volume 21, Issue 184, 7 May 1928, Page 12

FARM & COMMERCIAL

NEWS AND NOTE®

AUCTION SALES TO-DAY. 75 Adelaide Road, 1.30 p.m.—Sale of stock-in-trade (E. Johnston and Co.) TO-MORROW. Panama Street, 2.30 p.m.—Sale of land, Section 61)9 (Harcourt and Co.) Panama Street, 2.30 p.m.—.-ale of land, Section 6 (Harcourt and Co.) Jellicoe Street, Mariboiougn, 11 a.m.— Salo of land »N.Z. L. and M. Agency.) 8 Willeston Street, 1.30 p.m.—Sale of confectionery stock (E. Johnston ami Co.). 8 Willeston Street. L3O p.m.—Salo of cargo (E. Johnston and Co.) 109 Upland Load. Kelhuin. 10.15 a.m.Sale of furniture (E. Johnston and Co.) Pahiatua stock sale. WEDNESDAY. 14 Brandon Street, 2.30 p.m.—Sale residence, Lower Hutt ( 11. E. Leighton.) Featherston .Street, 2.30 p.m.—Sale of property (Bethune ..nd Co.) 21 Grey Street, 2.30 p.m.—Sale of land, account Sheriff (Nathan and Co.) Friesland Park, Awapuni, Palmerston North. 12 noon.—Sale stock (A. and IV.. Ltd.) Farm, Kelvin Grove (near Palmerston North), 1 p.m.—Sale contents poultry farm (Empire Auctioneering Co.)

FARMING INTERESTS

FROZEN MEAT LONDON QUOTATIONS. (Australian Press Association.) (Rec. May 6, 5.5 p.m.) London, May 5. Following are latest, quotations for frozen and chilled meats:— Sheep. Canterbury, light 7 l-Sd. per lb., medium GJd. North Island, light 7(1., medium 6 3-Sd. Argentine, medium 6 3-Bd. Lambs. Canterbury, light 10d., medium 9 3-Bd.; seconds 9Jd. Other selected*, medium Old. North Island, firsts, light 9 5-Bd., medium 9 l-Sd. Australian, firsts, other States 8 5-Sd., seconds Victorian 8 5-Sd.; others, Sid.; thirds, 8 l-Sd. Argentine firsts, medium TJd. Frozen Beef. New Zealand', hinds 5Jd. Australian, hinds sd. Argentine, hinds Cd. Chilled Beef. Argentine, fores -lid., hinds 7}d. Other meats are unchanged. SMITHFIELD PRICES. The New Zealand Meat Producers’ Board has received the following cablegram from its London office, dated May 4, 1928, advising Smithfield delivered prices averaged for week ended that date as follow (prices for the two previous weeks are also shown): — New Zealand wethers uud maidens Canterbury quality, selected brands, 561 b. and under, 7 l-Bd. (7d., 6 7-Sd.); 57-G4lb., (>i<l. (6 3-8(1. to (lid.): (15-7211).. 5Jd. (51<1., 5 3-Sd.). Other brands. 561 b. and under, 7d. (0 7-8(1., CJd.); 57-6411).. 6 3-Bd. (CR Cd.); 65-7211)., SJ(I. (5p1.. 51(1.). New Zealand ewes: 611 b. and under, 51(1. (old., 5 1-8(1.). New Zealand lambs: Canterbury quality, 3611). and under, 30d. (9 7-Sd. to tljd.); 3742!b., 9 3-8(1. Old., 8 7-Bd.) ; 43-501 b„ SRI, (83d., S»d.); seconds, 9J(I. (9 3-Rd., 9d.). Selected' brands, 3011). and under, 9RI. OJd., 9 5-Sd.); 37-421 b.. 9fd. O l-Sd.. 8 7-Bd. . Other brands, first quality, 3blb. and under, 9 5-8(1. (9Jd., 9Jd.); 37-1211)., 9 l-Bd. (9d„ 8 5-8(1.); second quality, 30321 b. average, 9 3-Bd. (9 3-8(1., 9(1.). Austialion lambs: Viotorian, first quality. 361 b. and under, not quoted; 37-421 b., not quoted. , Argentine lambs: First quality, 361 b. and under, SJd. (BJd., Bld.)*, 3i-421b., 7)d. (8(1., B< New Zealand beef: Ox fores, 3j(l. (3R1., 31(1.); ex hinds. s}d. (5d.. 5d.); cow fores, 31(1. (3}d., 31d.). cow hinds, 4}d. (4Jd., 4*d.). ’Argentine chilled beof: Ox fores, 4}d. (4Jd., 41(1.);-ox hinds. 7Jd. (7 l-Bd., 7fd.). Argentine frozen beef: Ox tores, 4 l-Sd. (4 1-8(1.. 4d.); ox binds, 6d. (5 7-Bd., 5R1.). Frozen pork: Porkers. 60-8011)., H<l. (74d.. 71(1.): porkers. 81-9911)., bRI. (bjd., 63(1.): porkers. 100-12011).. 6’id. (6fd., 6}d.); baconers, 121-1801 b., 7d. (7<1., 7d.). Lambs: Market is steady. Mutton: Wethers, market steady. Ewes, light stocks: there Is a good demand. Frozen beef: Market is stronger ow)))g to lighter supplies of Argentine chilled 1)0 New Zealand baconer pigs: Fair dem New Zealand porker pigs: There is a poor demand owing to the end of .the season.

Messrs. M- A. Eliott, Ltd., Palmerston North, have received cabled advice of the following Smithfield prices tor the week ended May '<■ .These prices are on the “delivered” basis, that, is, including storage charges, cartage etc. :-Best North Island prime ambs: Under 361 b., 93d.; 361 b. to 421 b.. 93J-: 421 b. to 501 b., 83(1. Ordinary North Island lambs: Under 421 b., Md.; second quality, under 421 b., 93(1. Best North Island wethers and/or maiden ewes: 481 b. to 5611)., 63d.; 561 b. to 641 b., 63d.; 641 b. to 721 b., 6d.: over 72Jb„ 6(1. Ordinary North Island wethers and/or maiden ewes: 481 b. to .>611).. :id.; 561 b. to 641 b., 63d.; 641 b. to 721 b.. 53(1.; over 721 b,. 53d. Noitll Island ewes: Under 641 b., 5Jd.: 641 b. to 721 b., djd.; over /21b., 4Jtl. New Zealand prime ox beef 'equal fores an'd hinds): 1601 b. to 2201 b.. not quoted. Remarks: Best light weight lamb. Jd. higher; others, no change; wethers. Jd. to lid. higher; ewes, no change. The Loan and Mercantile Agency Company, Limited, have received the following cablegram from their London office, under dale Mny ■!:—New Zealand frozen lamb, » 3-Sd. per lb. Mutton, wether and maiden ewe. light (Rd- per lb : wether and maiden ewe, heavy, old. per II). Ewe, light 5 3-Sd. per lb.; ewe, heavy, 5 l-Sd. per lb.; markets quiet. NATIONAL DAIRY SHOW Now that it is only about four weeks before the entries for the Winter Show I’jilmerston North close* it is tunc Hint intending exhibitors considered sending their entries in. The prize list, which may be had free on application, is a very comprehensive and generous one, and covers classes for horse competitions, dog trials bovs’ and girls’ agricultural clubs, ve-'etables. field roots, fruit, honey, home cookery, needlework, preserves, and pickles. photography, and fat stock, etc. The Manawat.u Poultry Association will also hold their annual exhibition in conjunction with the National Dairy Show and prize lists for this section are separate, .and should be specially asked °AII entries will close on June 5, and nny information may be had from Mr. W. T. Penny, secretary, P.O. Box 85, Palmerston North. WHEAT POOL FAVOURED A CANTERBURY RESOLUTION. (Dy Telegraph,—Press Association.) Christchurch, May (1. A meeting of wheatgrowers in the Wai-kari-Hawarden district, one of the biggest and best whefit areas in Canterbury, last night carried the following resolution:— "That this meeting of wheatgrowers is in favour of the formation of a wheat pool.” STOCK SALES Messr. Dalgety and 00., Ltd., report on the Carterion sale as follows:—A small yarding of sheep and a good entry of pigs were submitted to a large attendance Competition was keen lor sheep, but there was only a limited demand lor tlio pigs. Following is the range of prices:—ln conunction with the W.F.C.A. Ltd.- Account W. Henry Booth. 179 sixI tooth ewes 335.. 29 M.A. ewes 275. 6d. Wenner pigs made sg. to 11b., and store I pigs 14s, to 18s. 6d,

Messrs. Dalgety and Co., Ltd., report having held their autumn cattle fair at Taihape on May 3, when a large entry of cattle came forward. There was a representative attendance of buyers from Wuirarapa. Hawke’s Bay, Palmerston North, Wanganui, Hawera, and the Waikato, but tlie bulk of the stock was absorbed locally. Prices were tirm at late rates, and the Orin reports a total clearance as follow: —Four and five-year bullocks, forward condition, .till ss. to £ll 17s. 6d.: fouryear P.A. bullocks, £9 ss. to £lO 25.; four-ycar Shorthorn store bullocks, £7 155., £7 175., £8 Is., to £8 55.; I’reshcouditioned four-ycar bullocks, £8 to £9 Ills.; three and a half-year steers. £7 ss. to £7 10s.; three and a half-year P.A. forward bullocks, £9; two and a halfyear steers, coloured, £5 15s. to £6 65.; two and a haif-year P.A. steers, good, £(i 175., £7, to £7 2s. 6i1.: two and a halfyear Shorthorn steers, £6 10s. to £6 17s. ikl.; 18-20-uionth steers, £6 to £6 12s. Od. (good); two and a half-year steers, fair quality, £5 15s. to £6: good weaner steers.' £4 ss. to £5; medium wcaners, £3 16s. to £4 Is.: good weaner heifers. £3 Ils. to £3 135.; small ■wcaners. 355. to £2 10s.: fat cows, £6 9s. to £6 Ils., £6 18s. to £7 55.: fat heifers. £6 ss. to £6 15s. 6d.: (wo and a half-year P.A. heifers. £5 155.: two and a half-year Hereford heifers (small), £5; 20-month P.A. heifers (good), DAIRY PRODUCE Messrs. A. 11. Turnbull aud Co. have received a cablegram from Messrs. W. Weddel and Co., Ltd., dated Loudon, May 4, reading as follows (tlie previous week’s prices are in parentheses):— Danish butter. 1795. to 180 s. (180 s. to 182 s.); New Zealand, uusaltcd, 1665. to 1725. (1665. to 170 s.): New Zealand, salted. 1625. to 1665. (1645. to 1665.); market, quiet. New. Zealand cheese, white anil coloured, 965. to 98s. (965. to 975.); market firm. Canadian cheese, white, ll()s. to 114 s. (110 s. to 114 s.); Canadian cheese, coloured,, 108 s. to J 10s. (104 s. to 110 s.). Amalgamated Dairies, Limited, have received the following market report from London, under date May 3:—Butter: Our price unchanged. Some taking down to 1615.; Danish, 1725., f.0.b.; market dull. Cheese, 975.; market firm. Messrs. Dalgety and Company, Limited, report having received the following cablegram from their London house, under date May 4:—“Butter: Since our cablegram of May 3. we quote finest New Zealand, 1625. to 1665.: Australian, choicest 1525. to 1545.. exceptional 1565. Market very quiet; demand has fallen off.”

CWIIMAL ITEMS

WELLINGTON STOCK EXCHANGE

LAST WEEK’S BUSINESS AND PRICES At the call on Saturday morning, a sale of Bank of New Zealand shares at 60s. was made on ’Change, and sales were reported of New Zealand Breweries, 10 per cent, bonds at 245., Wellington Woolleu (ordinary) at £6 45., and WestportStockton (ordinary) at 2s. IQd.

The business done on the Stock Exchanges last week was on a large scale, and If the aggregate sales do not constitute a record for the week, it must be nearly so. A moderate business was done in Government securities, but prices were firm. The 4i per cent, stocks sold at £97 15s. and £97 17s. 6d.; the 5i per cents. (1933) at £lOO 12s. 6d. and (1936) at £lOl. A fair amount of activity was shown in the debentures of local bodies and of trading companies. Welllugton Harbour Board 5i per cents. (1941) changed hands at £9B and £9B 10s.; Mount Eden Borough, 51 per cents. (1361), at £l6O 10s.; Auckland Gas, 64 per cents., at £102; New Zealand Farmers' C0.0p., 6} per cents. (1930), at £80; and New Zealand Breweries, 10 per cent, bonds at* 235. 9d. and 245. At the week-end there were buyers of Wanganui Citv. 5J per cents. (1915), at par; Wellington City, 5) per cents. (1933), at £99 55.; and Waltakl Power Board, 5J per cents. (1960), at £99. A very large business was done in bank shares, and the sales were well spread. A dozen parcels of Bank of New Zealand sold at 60s. and 60s. 3d.; Australian Bank of Commerce changed hands at 345.; and English, Scottish, and Australian Bank at £8 6s. and £8 6s. Cd. Three parcels of Bank of Adelaide sold at £9 Us., three parcels of Bank of AOW South Wales at £47 17s. 6d., and- two parcels at £4B. There was a good turnover in Commercial Bank shares, ten parcels changing hands at 28s. (Id., -Ss 7<L. and 28s. B<L Union Bank sold at £l4 15s. 6d., and National Bank of New Zealand at £7 3s. Bank of Australasia changed hands at £l4 4s. and £l4 3s. Gd.; the rights at 595. 3d. and 605., and the fractions at 9s. and 9s bd In the financial group, considerable firmness was shown by the ordinaries oi the New Zealand Loan and Mercantile Agency,( which last week sold at £loj 10s., £lOB, and £lO9, with buyers at the week-end at £lO5. Goldsbqpugh Mort were tinner, with sales at 505., ,>os. 1(1.. 50s. 2d., and 50s. 3(1. There were single transactions in Dalgety's at £l4 Bs., National Mortgage at 745. bd.. and yeUmgton Deposit at 9s„ ex. dividend. Ntw Zealand Guarantee Corporation , w f'. rc steady, the ordinary at Bs. 3d. and the preference at 20s. 6d.. A small business was done tn insurance shares. lour parcels of South British Insurance changed hands at 58s. od.. and National Insurance registered one stile at 15s. 9m A little more business than usual was done “in Gas shares, and the prices were firm. Auckland Gas sold at —s. ml., Christchurch Gas at 235. 10d., and V ellincton (las at 28s. Meat shares are beginning to receive closer attention from investors, and a fair amount of business was done in them last week. Gear Meat shares were very firm at 395. 6d„ and not easily procurable at tlie price. Southland Frozen Meat sold at 325. 6.1-, a»d New Zealand Refrigerating "os. paid at 175.. and 10s. paid at Ts'” lOd and Bs. Although no business was done in Wellington, Meat Expert shares, they have been in steady demand at. 10s., without drawing sellers, and it S obvious that buyers must raise thcii shares wore quiet. Although tlie Huddart Parker Company is seriously involved in a labour dispute in Australia, investors are not perturbed, tjie ordinary shares changing hands at 475. bd. and 47s Other shipping shares were quiet. Wellington Woollen shares have been In stcadv demand for some time, but the prices offered— £6 2.s for the ordinary and £■(; (' s for tlie preference—failed to bring n'bout business. At tlie week-end the bid for ordinaries was advanced 2s. to £(> 45., mid a sale was registered at tills price. A small business was (lone in coa! shares, with sales of Hikiirangi Coni at 45.. Pukemiro Collieries at Gls. Gd.. and WestportStockton (ordinary) at 2s. Bd. and *~s. 10d The demand for brewery shares was somewhat erratic, and the only transaction recorded (luring the week was a sale of Timaru Brewery shares at 14s. Jd. In the miscellaneous section, a good business was done, and the sales were well spread. British Tobacco sold at 40s 6d. aud Bonth and Co. at Sis. A parcel of D.I.C. preference changed hands at -Os. Gd. Sales were registered of Howard iltl: (ordinary) at '26s. 6d.. National Electric at Os. i)d.. Farmers’ Fertiliser at 90s and 925. 6(1.. Electrolytic Zinc (ord.narv’) at 31s. and-31s. 3d., (preference at 325., Sharland and Co. (ordinary) at JOs.. Union Oil at 41s. 6d., and M llson s CciuellSaturday's buying and selling quota-

SALES IN OTHER CENTRES (Australian Press Association.)

Auckland, May 6. Sales: English, Scottish, and Australian Bank, £8 65.; New ealand Breweries (debentures), 235. 9d.; Colonial Sugar (exdiv.), £57; New Zealand Refrigerating fcont.). s. Id.; Sanford, Ltd. (pref.), 20s. 3d.; Wellington Woollens. £6 ss. Christchurch, May 6. Sales: Christchurch Gas, 235. lid.; Tooth's Brewery, 435. 3d.; British 10--bacco, 40s. 6d. Sales reported: New Zealand Refrigerating (10s. paid), Bs. 4d.

COMPANIES REGISTERED The “Mercantile Gazette” issued last week reports the registration of the lol’ lowing new companies:— Rod’s Patent, Ltd., registered April 21 with a capital of £2fl.Coo in SWO contnbut; ing shares of £1 each, and 30,000 vendois Shares of 10s. each. The subscribers are: A. C. Davis, E. J. Stephens, J. Rod. LH. Liddle. J. Leuchas, A. E. Rod. and ft. H. Nauuerois, all 1 share each. -Ill© company is to apply for purenase or otherwise acquire any patents, brevets I’invention. and patent rights. With the object O' carrying on the business of slipoer. neo*. and shoe inanu facturers. the Leslie Slippers, Ltd., has been registered with a capital of £906 1U 900 shares of £1 each. N- Clarke holds 350 shares, C. G. Leslie 200, aud H. J. Hilton (of Napier) 350._ „ Earthworks Construction Co., Ltd., registered April 26. is to cafry on the business of construetural engineers and contractors. The capital is £lOOO in ICOO shares of .£1 each. A. H. Benham and A. M. Wishart each hold 500 B h^ res -„ , . imperial Tobacco Co. of New Zealand, Ltd., has been registered with a capital of £lOO in £1 shares. The shares are held by J. W. G. Brodie, J. E. Ramsey. A. P. Reid, H. H. Mirams, and G. W. Grundv. all 20 shares each The company has been formed to carry on the business of growers ‘of tobacco manufacturers, planters, growers, to prepare for market, manufacture, buy. sell, supply and deal in tobacco.

ENGLISH WHEAT MARKETS. (Australian Press Assn —United Service.) (Rec. May 5, 5.5 p.m.) London, May 4. Wheat cargoes, influenced by a decline in North • and South America, dropped fid., but the undertone is steady. Parcels are receiving no attention, and show a decline of Cd. to Oil. per quarter. Liverpool futures: May, 10s. 10Jd. per cental; July, Ils. 1 5-8(1.; October, Ils. 3 l-Sd. (Rec. May C. 5.5 p.m. London, May 5. Wheat —Cargoes ar steady, sellers occasionally asking higher prices. Buyers continue reserved. Parcels are firm, first hands asking Cd. per. quarter advance Trading is slow. Liverpool futures: May, 10s. 11 7-Sd. per cental; July, Ils. 3<1.; October, 11 4Jd. | CHICAGO WHEAT FUTURES. (Australian Press Association.) Chicago, Maj' 4. Wheat futures. May 1 dollar sfiJ cents per bushel: July. 1 dollar 57 1-8 cents; September. I dollar 54j cents. (Rec. Maj- 6, 5.5 p.m.) Chicago, May 5. Wheat futures: Mny. 1 dollar COf cents; July. 1 dollar CO* cents; September, 1 dollar' 581 cents. PRICES OF RAW MATERIALS. (Rec. Slay G, 3.5 p.m.) London. May 5. Cotton.—Liverpool quotation for American middling upland cotton, June delivery, 10.97(1. per 11). Rubber. —Fine hard Para, lOd. per lb.: plantation, first latex crepe and smoked ribbed sheet. B'ld. Jute.—June shipment, £34 ss. per ton. New Zealand Hemp.—May shipment £3l 10s. per ton. Copra.—April-Maj’ shipment, £2l per ton. Linseed oil, £3l ss. per ton. Turpentine, 41s. 3d. per cwt. LONDON APPLE MARKET. (Australian Press Assn.—United Service.) London, May 4. The Ormonde’s shipment of Victorian apples brought as follows:—Cleopatra, 10s. to 12s. (Id. per case; Jonathans. 7s. to 10s.; London Pippins, 9s. 3d. to Os. Cd.; Rymers French Crabs, Ss. fid. The I-larrobool’s shipment brought the following prices:— South Australian. Dunns 10s. to 10s. fid., Cleopatras 12s. Cd. to 145., Jonathans. 10s. to Ils. fid.; Victorian, Jonathans 10s. to 13s. NEW ZEALAND AND AUSTRALIAN LAND CO. (Australian Press Association.) London, May 3. The New Zealand and Australian Land Company- has declared an interim dividend of 4 per cent. LONDON STOCK EXCHANGE. (Australian Press Assn.—United Service.) London, May 3. Bank of Australasia, £l4 7s. Gd.; Bank of New South Wales, £45 55.: National Bank of N.Z., £7 (is. 3d.; Bank of New’ Zealand, 4 p.c., £O3: Bank of New Zealand shares, £3; N.Z. Loan and Mercantile (ordinary stock), £lOl. ' CUSTOMS REVENUE. The Customs revenue collected at the port of Wellington on Saturday totalled £2383.

tious were as under T , nvnrB Sellers. N.Z. GOVT. LOANS- £ 4* p.c. Ins. Stk.. 1038 5* p.c. ditto, 1933 ... 5A P.C. ditto, 1936 ...100 s. d. 0 £ B. 97 17 100 10 100 15 d. 0 0 0 5} p.c. ditto. 1941 ... 99 0 0 41 n.c. Bonds, 1941 .. 97 10 0 41 p.c. ditto, 1939 ... 97 41 p.c. ditto, 193S ... 9< 41 p.c. ditto, 1930 ... 10 10 0 0 97 17 98 15 6 0 5J pc. ditto. 19315 ...100 10 0 — DEBENTURES— N 7j. Breweries (bonds) 1 3 9 1 4 0 Wanganui City, 5} P-C-1915 100 0 0 — Wellington City, fl* p.c., 1933 .......... 99 Waitaki Power board, 5 0 — ~ j p c 19(U) 99 0 0 BANKSAustralasia 9 0 Ditto (rights) o Ditto (fractions),.... 0 9 3 26 15 48 0 Commercial of Sydney Now South Wales ... — 0 New Zealand "D shares (£1 paid) .. 1 6 6 1 7 0 Union of Aust 14 15 0 Ditto (Melbourne re13 6 — financial— Goldsbrouch Mort ... 2 9 10 — N.Z. Guarantee Corp. 8 3 0 8 6 Ditto (prof.) l 0 0 — N Z Loan and Merc. Agency (ord.) - - • • 10 ;‘ Well. Invest., K & A. 0 n 10 0 11 0 Finance, Ltd. (os.) •• 0 5 3 (paid) 1 2 6 1 3 3 Wellington (ord.) ... 1 7 9

INSURANCE— 0 15 11 New Zealand 2 1 0 — South British 18 6 — MEAT PRESERVING— c a r 1 19 9 N.Z. Refrigcrat. (£1) 0 17 0 0 17 G Ditto (10s.) 0 8 0 0 8 3 Well. Meat Expt, (ord.) 0 10 0 0 11 0 TRANSPORT— Huddart-Parker (ord.) 7 3 2 7 9 Union Steam (pref.) .. 1 0 3 *— WOOLLEN— Kalapol (ord.) 0 8 9 — Ditto (contrib.) 0 1 10 — Wellington (ord.) .... 6 2 9 6 4 0 Ditto (pref.) 6 6 0 COAL— Westport — 1 10 6 Westport-Stockton (ord.) 0 2 10 0 2 11 0 3 4 TIMBER— Levlard-O’Brien .... —— 1 15 6 0 12 6 BREWERIES— • w " ■ 2 7 0 —— 1 17 6 Ward and Co 1 16 9 1 18 0 MISCELLANEOUS— British Tobacco (Aust.), 0 0 ■ M Burns, Philp, and Co. — 2 2 9 Howard Smith (ord.) 1 c 0 —— N.Z. Paper Mills .... —- 0 16 9 Sharland and Co. , ■ - 1 0 6 Wilson's Cement’ 1 19 0 2 0 0 MINING— Mount Lyell 1 32 0 Waihi 0 12 3 0 12 9