FARM & COMMERCIAL

Dominion, Volume 21, Issue 187, 10 May 1928, Page 12

FARM & COMMERCIAL

NEWS AND NOTES

AUCTION SALES to-day. Lambton Quay, 2.15 p.m.—Sale of land (Harcourt and Co.) Farm, Woodville, 11 a.m. —Sale of Jersey stock account J. Mitchell (W.S. and Co. and H.B. Farmers.) 195 Lambton Quay, 2.30 p.m.—Sale of property, Trentham (Harcourt and Co.). Dominion Farmers’ Institute, 11 a.m.— Sale residence, 32 Rawhiti Terrace

(Nathan and Co.) S Willeston Street, 10.30 a.iu.—Sale of furniture (F. Johnston and Co.) 99 Hamilton Road, 10.30 a.m. —Sale of furniture (E. Johnstoh and Co.) lOOOnepu Hoad, 2 p.m.—Sale of furniture (E. Johnston and Co.)

TO-MORROW. 8 Willeston Street, 1.30 p.m.—Sale of unclaimed cargo (E. Johnston and Co.) Clarkson’s Garage, Herbert Street, 10.30 a.m. —Sale of unused cars (E. Johnston and Co.) SATURDAY. 257 Ohiro Road, Brooklyn. 1.30 p.m.— Sale of furniture (Silverstone and Co.) DAIRY PRODUCE Messrs. Dalgety and Company, Limited, report having received the following cablegram from tbeir London house, under date May B:—“Since our report of May 4, New Zealand butter 102 s. to 1645., exceptional IGGs. Market very slow.” Mr. S. T. Paviour-Smith yesterday received the following cabled advice from his London principals, the Anglo-Continental Produce Company .'—Butter, Mils., Mils.; market stagnant.

FARMING INTERESTS LIVE STOCK SALES ADDINGTON Bl ThiEGUAPU.—PBESS ASSOCIATION Christchurch, May 9 Heavy entries were the rule to-uay at Addington market, and there was a good sale lor ail sheep sections. Backward Jambs ami wethers and low-quality ewes were harder of sale. Store Sheep;—Young ewes and forward lambs and wethers sold briskly, other classes being somewhat irregular. Extra good halfbred ewe lambs made to 355. 10s.; good liaifbred ewe lambs, 28s. to 31s. Gd., medium halfbred 255. to 275. Cd., inferioi liaifbred ewe lambs 225. Gd. to 245.; good threc-quarter-bred ewe lambs 265. (id. to 295., ordinary three-quarter-bred ewe lambs 225. to 245. Gd.: ordinary crossbred ewe lambs 245. to 255. lid.; medium rape lambs 225. Gd. to 245. Gd.; cull lambs 14s. to 175., good four, six, and eighttoothed halfbred ewes 28s. Gd. to 305., ordinary four, six, and eight-toothed hall’bred ewes 265. to 285., inferior four, six, and eight-toothed liaifbred ewes 235. Gd.

(o 255., four, six, and eight-toothed crossbred ewes 265. to 28s. (id., aged ewes 18s. Gd. to 215., extra good four, six, and cight-tcotlied halfbred wethers 30s. to 325. 3d., good tour, six, and eight-toothed halfbred wethers 275. (id. to 295., ordinary four, six, ami eight-toothed liaifbred wethers 245. to 2Gs. (id., four, six, and eighttoothed crossbred wethers 28s. to 30s. Gd., inferior wet hers 18s. (id. to 21s. Gd. Fat Lambs. —3200 were yarded. There was a keen sale throughout at advanced rates for export, the average of prices running between 10;'d. and Hid., according to weights. Extra prime lambs made to 38s. Id., prime 325. Gd. to 355. Id., medium 295. Cd. to 325., light 265. Gd. to 295.; store lambs 255. to 2Gs. 3d. Fat Sheep.—A heavy entry and a wellsustained demand until Hie conclusion. Exporters bought freely, and butchers paid good prices for heavy-weights. Extra prime wethers made to 41s. iod., prime wethers 345. Gd. to 385., medium wethers 31s. to 345., light wethers 265. Gd. to 295.; extra prime ewes to 395. Id., prime ewes 275. Gd. to 325., medium ewes 245. to 275., light ewes 20s. to 235. Gd., rough ewes 15s. to 17s.

Fat Cuttle.—Another heavy entry of G 29 head, and an easing of 10s. to 20s. per head. The entry included a big showing of indifferent dairy sorts. Best beef made to 38s. Gd., prime steer and heifer 355. to 375. Gd.. heavy beef 325. Gd. to 3Gs., medium quality 325. to 345. (id., good cow 31s. to 335. Gd., ordinary 28s. to 305., and rough down to 245. Extra heavy prime steers made to £lB 12s. Gd., prime heavy steers £l5 to £l6 155., prime inediumweiglit steers £l3 to £l4 10s.'. medium quality steers £lO ss. to £l2 155., light steers £6 to £9 10s.; extra prime heifers to £l5 2s. Gd., prime heifers £9 10s. to £ll IDs., medium heifers £7 15s. to £1) 55.. liglit heifers £5 to £7 55.; extra prime cows to £l4 7s. Gd., prime cows £8 15s. to £lO 10s., medium cows £6 15s. to £8 10s.. aged cows £4 10s. to £6 10s. Vealcrs.—A small entry and a keen sale. Twelve to 18-mciiths sorls made to £9, medium to good vealcrs £3 12s. Gd to £6 155., others 255. to £2 155., small calves 7s. (id. to 15s.

Store Cattle.—A better demand for steers and heifers. Three and four-veur steers made to £9 12s. 6d„ 18-months Leiters £.4 55., good cows to £5 55., others 30s. to £4, bulls £3 to £9 7s. Gd. .Dairy Cattle;—A dragging sale. Extra good second ealvers made to £l7, good £9 to £lO !()«„ .medium £7 10s. to £8 10s., inferior £.5 to £7; good heifers £8 to £ll 10s., backward heifers £5 to £0 Ids. .

Fat Pigs.—A heavy entry, with a good many unfinished sorts. fPhcre was • a good market for quality sorts. Choppers made £2 to £4 13s. o<|„ baeoners £2 17s. to £s_ 4s. (Id. (average price per lb., (Id. to (>ld.);. porkers. 325. to 545. (average per il)., (>4d. to 74d.).

•Store Pigs.—A good-sized entry and a decline in values. Wenners made 3s. Gd. to os., better to Bs. Id.; stores (is. to 135., large to 235., and extra large to 28s.

BURNSIDE By Telegraph.—phess Association

„ . Dunedin. May 9. Prices for fat cattle at Burnside today declined iu the early stages of the sale. 'There was a good demand for fat sheep. Store cattle sold well. Fat cattle.—An entry of 284. It was a good entry, prime heavy and light bullocks being well represented. Heavy cows and hffifers were also shown. The opening demand showed a decline of 15s. to £.l a liead on last week’s rates. Medium weight . bullocks made £l4 to £l5 55., light £ll 10s. to £l3; best heifers, £9 1-is. to £lO 55., medium £8 to £9; best cows, £9 15s. to £ll. Extra heavy ox beef sold on a basis of 355„ light 37s Gd heifer-255., cow aud light heifer 225. Gd? to 255. per 1001 b.

lat sheep.—Tlie yarding was of good average quality, including some extra heavy wethers, and a fair proportion of prime ewes. Only a few fine wools wore yarded. The demand was keen from tlie start, to improve later, and ease towards the close. Heavy wethers were very firm, to tid. better than last week, while lights met with a keen unchanged demand; medium ewes appreciated Is. to 2s. midsale, to ease Is. later. Extra heavy wethers made 495. to 51s. 3(1., prime 365. to 395.. light 30s. to 325.; exlra ewes 41s. to 455., prime tils, to 3(>s. 6d., liglit “Ss. to 305.. interior 17s. Gd. to 225. Extra heavy wethers sold on a basis of (lid., light 7d., extra heavy ewes 5d., liglit (id., aged 44d. per lb. Fat lambs.—The quality of lambs was fair to prime, but some unfinished were penned. Generally, the entry met with approval. The demand was keen for freezing sorts at par to 9d. better than previously. Prime lambs made 325. to 355., medium 28s. Gd. to 30s. Gd., unfinished ISs. to 225.

Prime lamb sold on a basis of lOd. and 101 d. per 11). Store cattle.—A full yarding of over 5011 head. A quarter of this was imide up of good forward station bullocks three to four years old; the balance was of mixed steers, with a good proportion of cows ami heifers. There was a good demand for well-bred bullocks, about seventy making from £ll 17s. lid. Io £l3 Ills. Ollier classes were on a par witli last week’s prices. Pigs.—There wore 11)0 fats anil !I5 stores, the former being a littie easier in price. JOHNSONVILLE Messrs. Wright, Stephenson, and Co., Ltd., and Abraham and Williams, 1.ti1., report -ou their Johnsonville sale held yesterday as follows:— There was a very large attendance of butchers. An average yarding of sheyp and cattle was submitted, (lie quality throughout being good, witli Die exception of a few pens of light-weight cows, competition was keen, ami a total clear--ante was effected at prices slightly in advance of last week's quotations. Lambs ami veaiers especially sold particularly well. Quotations areßullocks, £l2 55., £l2 10s„ £l2 155., £l3, £l3 12s. 0(1., £l-1, £l+ 55., £l-1 His., to- £ll 155.: heavy cows, £9. £9 2s„ lid., £t) 10s„ £1() 2s. Cd.. £lO 155.. £lO 17s. lid., £ll 17s. Cd., £l2 55., to £l2 155.; light cows, £;; 17s. Cd.. £4 35.. £4, Ills.. £5 55.. £5 12s. Cd.; veaiers. LI os., £1 ♦»«.. H 2 25.. £2 «55., £2 75., £2 10s.. £2 155.. to £3; lambs, 2Cs., 275.. 275. 2d., 275. Cd., 285., to 2Ss. 2d.; wethers. 305.. 335. Id., 335. 3d., 335. Cd., "45., to "4s. fid.: ewes, 245. 7it., 255. Id., 2Cs., 265. Cd., 265. 9(1., to 30s.

The New Zealand Farmers’ Co-op. Distributing Company, Ltd., report on their Masterton sate on Tuesday as follows: — We had a .small yarding of sheep, comprising some good pens of fat ewes ami iambs. Competition was keen for all lots offered, and we report, prices as follow: Fat ewes, 235. -Id. Io 2Cs.; fat lambs. 2-ls. to 275.; ewe lambs. 255.; ewes in land). S.D. rams. 275. 3d.cull store ewes, 17s. Pigs.—Slips, 10s. to Ills.: wenners, Bs. . Tlie Loan and Mercantile Agency, Co.. Ltd., report that at the weekly sale held

FOOT AND MOUTH DISEASE

VIRUS IN SLAUGHTERED ANIMALS

SUGGESTED RETENTION IN COLD STORES (Australian Press Assn.—United Service.) Xsondon, May 8. Tn the House of Lords, Lord Ernie moved that all the refrigerated meat from countries where foot-and-mouth disease exists should lie placed in cold storage at (lie port of landing in Britain and not be released for sale for twenty-one days or a lesser sanctioned period. Research showed that tho virus of foot-and-mouth disease remained in the blood of slaughtered animals for forty days. He suggested that action was necessary to protect Hocks ami herds. Lord Kylsant. in opposing 1 lie motion, said that it would be a, hardship for the majority of people, who would have to put up with dearer, and inferior meat. Viscount Novar said that the proposal required the gravest consideration.

The Earl of Stradbroke said that the proposal would have to be carefully considered Experiments showed that (lie virus of the disease remained in (lie bones and carcasses for seventy-six days. The voyage from South America was twentyone days. Even an additional twenty-one in cold stores would not destroy .all the traces, while chilled meat would only keep in good condition for forty days. The proposal would reduce cliilled to the value of frozen meat. The Research Committee had already arranged witli the Argentine to ensure tho healthfulness of carcasses exported. Agriculturists must trust the Government’s steps to suppress llio incidence of foot-and-mouth disease. Be could not accept the motion. Lord Ernie withdrew it. FROZEN MEAT RETAIL PRICES IN LONDON. The New .Zealand Meat Producers’ Board lias been advised by its London manager that the following retail prices were quoted for New Zealand lamb and mutton retailed on May 4:— Lamb.—Legs, 13d. per lb.; shoulders, 14d. per ll>.; loins, 13d. per lb.; necks, Bd. per 11).; breasts, Gd. per lb. Mutton (wether).—Legs, lid. per lb.; shoulders, Mid, per 11).: loins. lOd. per lb.; necks, 71d. per lb.; breasts, 3td. per lb. RABBITSKIN SALE Messrs. Wright, Stephenson and Co., Ltd., Wellington, have received the following telegram from their Dunedin office, with reference to the rabbit skin sale held there on Tuesday:— There was a very keen sale, autumns advancing sixpence, racks and low grades threepence. The following is the range of prices realised .'—Runners, 27d. to 42d.; summer. 32(1. to 37(1.: summer bucks, to 42(1.; light racks, 49d. to old.:' prime racks, olid, to 52(1.; downy autumns, 54d. to Gid.; early autumns. 63d. to 7(>d.; autumns 76(1. to B(>d.; second incoming, 76(1. to 89d.; incoming winters, 92(1. to 95d.; early winter bucks, 104 d. to 106 d.; does. llOd. io 112(1,.: springs. 3Gd. to 4Sd.; horse hair. 23d. to 25d. Anticipate shortage with high prices during season.

MASTERTON CATTLE FAIR Dominion Special Service. Mnsterton, May 9. The New Zealand Loan and Mercantile Agency Co, Ltd., Masterton, held a cattle fair to-day. They submitted a good yarding of cattle to a fair, attendance of local buyers. Their yarding consisted mostly of 2)-year steers, 34 to 4J-year bullocks, fat and forward heifers, and dairy heifers. Although bidding was not so spirited as was the ease in earlier fairs they were able to sell practically all the lines under the hammer at satisfactory prices. Quotations:: 2}-ycar Hereford steers in good condition.' £7 155., £7 10s., to £7 19s;; •34-year , bullocks, Hereford-Shorthorn, Hereford and Polled Angus, in fair condition, £B, £8 35., £8 10s.; IJ-yoar PolledAngus.steers (good), £G 14s. Gd , £6 10s., £G; 3J-year bullocks (mixed colours), £6 10s. £6 Gs„ £6; fat and forward Hereford heifers (empty), '£6 10s.. £6 55., £6; fat and forward Polled-Angus heifers. (.empty),'. £7. £G 15s. £6 10s.: dairy heifers (Jersey), ex-factory dates £9, £7, £6 175., £6 10s. £6 2s. Gd. COMPENSATION FOR DISEASED PIGS ('l'p the Editor.) Sir,—lt is tuy firm belief that if there was no compensation paid on diseased pigs there would be far fewer diseased. P'gs. This -spoon-feeding is ridiculous. If the fanner, were t.o receive no return for .(.liseas.O.d animals he would not be so contented to go on raising such; and New Zealand : is the most, favoured country in the world in which to raise Hiealthy pigs.—I am, etc., A. BODLEY. Ohau, May 4. at I’ahiatua on Tuesday (in conjunction with tho supplementary cattle fair) tliev offered a good yarding of sheep and cattle to a good attendance of buyers from the Hawke's Bay, Manawatu, and Wairarapa districts. Sheep sold at late rates, ewes and lambs showing appreciation in values. Cattle were in good demand, especially 18-month steers, which sold at verv much improved rates. Any bullocks with conditiou were sought after, (lie majority going to Wairarapa buyers. The firm quotes rates as under:—l37 two-tootli ewes and W.R.R., 295. 7d.; 100 4 and 5year owes and W.S.P.R., 305.: 143 M.A. S ;P' I{ '' -" ,s - In ewes and M.R.R.. l.is. Gd.; it) 2 and 4-year wethers, 30s. Bd.; b.f. lambs, 19s. 10d„ 21s. (id., 245.; shorn wether lambs. 17s. 9do 18s., 18s. .‘id.; springing heifers. £6, £G 45.. £<; bullocks, £8 IDs., £9 55., £lO- - cows, £3 10s., £4; forward heit'ers £4 155., £5; 18-month steers. £6, £('; os., to £6 His.; Shorthorn 2-otT steers £7 £7 55.; ditto (small). £4 1,- IS .. 5 S ■’ ditto lieifers. £I. £1 155,; bulls, £6 ss! £(• 10s.. io £7 10s.

Messrs Dalgcty and Co.. Ltd., report on tlie .Masterton sale as follows:—There was a small entry of sheep, and a good yarding of cattle submitted to a large attendance of buyers. Competition was keen throughout the sale, a total clearance being effected under tlie hammer at tlie following prices: Fat ewes. 2(is. 7<1.; B.F. rape lamlis, 225. fld.; medium wether lambs, 175.; small ewe lambs, JOs. lid.; cull lamlis. 11s. 3d.. Account Pierec Cotter; 23 11-.vear steers, £6 ISs. Account Wailu Station: 8 light fat steers, £ll 2s. (Id.; 7 21-year P.A. steers. £9; 9 fat heifers. £9 2s. (id.; 1 fat cow. £7 Ils., 3 £8; other fat cows, £7 Is. to £7 Us.: store cows, £3 ss. to £4 15s. Messrs. Dalgety and Co.. Ltd., report on tlie Pahialua sale as follows:—a good yarding of sheep, and a full yarding of cattle were submitted to a large attendance of l)u,vers from Manawatu. Hawke’s Bay, and Wairarapa. Tlie yarding included a large entry of well-bred cattle, which camo forward in excellent condition. Competition was very keen for both sheep and cattle, a very satisfactory clearance being effected at tlie following prices :—Medium M.S. lambs. 17s. Bld.; medium b.f. lamlis, Ills. lid.; b.f. rape lambs, 225. 7d.; 2 and 4-tooth wethers, 2Ss. fill. to Bits. Cd.. Account Dr. C. I*. Knight, Akitio: 51 14-year P.A. steers, £7 25.; 12 P.A. steers, £li 55.; 27 11-year P.A. heifers, £5. Account H. R. Poole: 17 P.A. steers (14-year), £7 ss. Account J. D. Piper: 15 4J-yi>ar Hereford bullocks, £1(1; 33 -iJ-yenr P.A. bullocks, £lO 10s.; 45 P.A. weaner steers. £4 12s. Oil.; 20 Hereford weaner steers. £4 Os.: 32 P.A. cows, R.W.T’.A. hull, £7 55.; 37 Hereford cows. R.W.I’.A. bull. £(i 155.: 30 fat cows, £0 2s. lai. to £8 2s. (id. Account H. It. Poole: 5 fat cows, £8 15s. Account 11. A. Eglinton: 24 31-year steers. £9 His. Account estate J. Vile; 35 Hereford cows, R.W.P.A. bull. £7 3s. 'The New Zealand Loan and Mercan-

tile Agency Company, Ltd., report as follows on their weekly sale, held in conjunction with the supplementary cuttle fair at Masterton: —We offered a good yarding of sheep mid cattle to a good attendance of buyers from Hawke’s Bay, Manawatu, and Wairarapa districts. Sheep sofd at Into rates, ewes in lain!) showing appreciation in values. Cattle were in good demand, especially IS months’ steers, which sold at very much improved rates. Any bullocks with condition were keenly sought, the majority going, to Wairnrapii buyers. We quote onr sales as follow:—137 2-tooth ewes. ItWSD.It., 295. Til.; Hill 4 and 5-year ewes, K.W.S.D.R.. itils. : 143 M.A. ewes. R W.S.D.R.. 255. (ill.: 45 ewes, 155.; 19 2 mill -l-tooth ewes, .’ills Sd.; black face lambs. His. Hid., 21s. 6(1.. 215.; shorn wether Jambs. 17s. tld. to ISs. 3d.; springing belters, £() to £7: bullocks, £5 Ills, to £10; empty cows, £3 Ills.. £1: forward heifers. £-1. £4 Us.: 18-inonths steers. £6 to £6 Ills.: Shorthorn, 20 £7, £7 55.; ditto (small!. £-1 155.. £5 ss.': Shorthorn heifer. £4, £4 155.; bulls, £6 ss. to £7 10S.

LONDON WOOL SALES

BRISK COMPETITION AT OPENING

LITTLE CHANGE IN PRICES

(Australian Press Assn.—United Service.) (Rec. May 9, 5.5 pin.) London, May 8. The wool sales opened with competition brisk. Fine crossbreds and slipes were a siiade easier. Oilier sorts showed little change. New Zealand greasy crossbreds sold mostly to home buyers and brought between LSd. and L’lFd. per lb. the latter price for Imlfbred sS’s. There were frequent withdrawals of slipes, finest halfbred, and lambs. CMC Eclipse brought 31(1. per lb. OTHER ADVICES Messrs. Dalgety and Company, f.imited. report having received tlie following caidegram from their London house, under (late May B:—"London wool sales opened, competition fair, large attendance, miscellaneous selection. As compared will) closing rates of last series: Merinos, change, if any, is in favour of buyers; liaifbred, par to Id. lower: line crossbreds, liar to Id. lower; medium and coarse unchanged; fine slipes. Id. to lid. lower: other description slipes, par io Id. lower."

Messrs. Murray, Roberts, and Co.. Ltd., are in receipt of tlie following cablegram from their London agents, dated May 8:—"Wool sales have opened, large attendance of buyers, competition good, Bradford buyers principal buyers, poor selection offered: Greasy Merino, inferior, par to 5 per cent, decline; greasy Merino, other descriptions and scoured Merino. market shows no change; crossbred greasy line, declined 5 per cent.; crossbred greasy medium, par to 5 per cent, decline: crossbred greasy, coarse, none offering: crossbred slipc, declined 5 per cent.; crossbred scoured, market shows no change.” Tlie Loan and Mercantile Agency Company, Limited. liave received the following cablegram from their London house. under ' date May 8:—“Wool sales.—There was a full attendance at the opening of the sales to-day, competition by Home and Continental buyers being good, and prices, as compared with the close of preceding series, ruled about the same for Merino, greasy crossbred, and par to 5 per cent, lower for crossbred slipc. Tlie opening catalogues were fairly representative.” The Bank of New Zealand, Produce Department, lias received the following advice from its London office under date May B:—“The sales have opened with fairly good competition, and large attendance of buyers. There is no quotable changes in prices, witli tlie exception of slipes, which are one penny cheaper.” Messrs. Wriglit, Stephenson, and Co., Ltd., end Abraham and Williams, Ltd., report having received a cablegram from their London house, reading as follows:— “Wool sales opened; average attendance of buyers. Continental and Bradford buyers chief operators. Average selection. Greasy line halfbred 56-58’s, clean scoured basis, 2Gld.: greasy, auction price; greasy halfbred, 50-56's, 24}d.: greasy three-quarter-bred, 48-50's, 23d.: greasy line crossbred, 40-48’s, 21d.; greasy medium crossbred. 44-46’s. 20d.; greasy crossbred. 40-14's, 19d.; scoured prices, par to 5 per cent, lower: sliped prices, 5 per cent, lower; Australian merinos, prices par to 5 per cent, lower.”

CWERCIAL ITEMS

WELLINGTON STOCK EXCHANGE

YESTERDAY’S BUSINESS AND PRICES

At the morning call yesterday a sale of 4J per cent, stock (1938) at £O7 15s. was reported. At the afternoon call the sales reported were. 4) per cent stock (1938) .at £97 155., 4* per cent.' bonds (1941) at £97 15s , Bank of Australasia at £l4 55., Bank of New Zealand at 60s. and 60s. 3d., Union Bank at £l4 16s. 6d„ ( New Zealand Insurance at 41s. 6d., and Wellington ■Woollen (ordinary) at £6 4s.

There was. an active demand for stocks and shares, with buyers plentiful. Gov: eminent securities were steady, with buyers of the 44 per cents at £97.. 12s. 6d. and the Si per cents, at £lOO 55., Wellington City 54 per cents. (1933) were wanted at £99 ss’ Wanganui City 5| per cents. (1945) at par, Wellington Gas debentures at £lOO. and Wellington Racing Club at £lO6 10s. .

Bank shares were very firm and in active demand. There were buyers of Bank of Australasia at £l4 2s. Gd. and

tlie Rights at 605., Commercial Bank ordinary at 28s. 6(1., preference at £7, Commercial Bank of Sydney at £26 2s. Gd.. English, Scottish, aud Australian at £8 75., National Bank of Australasia (.£5 paid) ;at £9,.Bank of. New South Wales at £47 17s. Gd.. Bank of New Zealanil at 595. Hd.. and Bank of New Zealand “D.” shares at ‘2Gs. Gd.

Financial shares were steady, but the dcmantl was restricted. Goldsbrough Mort were wanted at 505., N.Z. Guarantee Corporation ordinary at Ss. 4d., preference at 20s 9d., N.Z. Loan and Mercantile, ordinary nt £lO6, Wellington investment at 10s. 3d., Wellington Trust and Loan at £G 12s. 6d., and Wellington Deposit at 9s. Insurance shares were in good demand, witli buyers of New Zealand ■ Insurance at 41s, 3d.. Queensland Insurance at 635. 3d., and South British Insurance at 595; Except for a bid 0f.275. 90. for Wellington Gas shares there was nothing doing in this group. Meat shares were firm. There were bids of 10s. 3d. for Wellington Meat Export, 17s. for New Zealand Refrigerating 20s. paid, aud Bs. for 16s paid. Hud-(lart-Parkcr shares were firm at 475., and Union Steam at 20s. 4d. Woollen shares wore in fair demand. Kaiapoi Woollen were wanted at 95., Wellington Woollen ordinary at £6 25., and preference at £G Gs. Coal shares were in steady demand, with buyers of Westport Coal at 295. (id., and Westport Stockton, ordinary at 2s. lid. and preference at 3s. Gd. Kauri Tirn-

her shares wore wanted at 215., British Tobacco at 40s. 4d.. Burns. Philp, and Co. at 42s 3d.. Electrotytic Zinc, ordinary at 30s. Oil., preference at 325.. Holden’s Motor Body Builders at 30s. fid.. Howard Smith nt 265. (id., and N.Z. Drug at USs. lid. Yesterday’s buying and selling quotations were as under: —

SALES IN OTHER CENTRES By I'ELEGitAPii.— press association

Auckland, May 9. Salesj Mar Loan (11)38), 4) per cent., £i)7 17s. (>d.; It ar Loan (193 G 54 per cent., £lOl 55.; Commercial Bank of’Australia (contributing, ss. paid), 12s 4d ' ditto, preference, £7 35.; English. Scottish and Australian, £8 65.; Bank of New Zealand. 60s. 2d.; Union of Australia, £l4 165.: Austtalian Provincial Insurance, 8s • Farmers’ Co-operative Auctioneering ("B" pref.), 14s. (id.; Auckland Gas, 235. 3d • Northern Steamship, 15s. 9d.; Kauri TiniJ’.V, 1- ,' -V- Shariand and Co., 20s. 3d.' JJ. 11 ?; 0 .!! s Cement, 395.: Ohiuemuri, 7s.;’ M aim, Ils. lid., 12s. (two sales). „ , „ Christchurch, May 9. Sales: Commercial Bank of Australia (us. paid). 12s. Gd.; New Zealand Refrigerating (eontr.), Ss. 3d., Ss. 4d. (four parcels); Llcctrolytie Zine (pref,), 325. Gd.; Mason, Struthers (10s. paid), 9s. 5d.; New Zealand farmers’ Co-op. (61 per cent stock, 1930), £BO 155.: Mahakipawa, Is. Is. Gd.; I'erdriau Rubber (eontr) '’ls Sales reported: Bank of Adelaide,' £9 Commercial Bank of Australia (pref > . t ,<i'> s ''- t o o, ‘ n A erci , al Bank o£ Australia (ss.’ P-nd), I-s ,d.. (two parcels); Northern Steam (fully paid), 15s. lOd. r v ~ Dunedin, May 9. Sale reported: Nokomal Sluicing, 255.

BYCROFT LIMITED

Dominion Special Service.

mi , Auckland, May 9. n,-^H an T aal ', r< ; po S t o£ the directors of w-rnh -H . for th e year ended March 31, which is just Issued, expresses t^a I t ’ s despite some depression in the Dominion, the results wiU be quite satisfactory to shareholders.” The report proceeds as follows: "The amount transferred to profit and loss appropriation account will permit paying a dividend °n the lines followed in recent years, and will leave a substantial balance in accouDt. Ample provision has been made lor income tax appropriation, whilst reeognition is made of the necessity for providing for changes in types and values of machinery and plant, in addition to making proper allowances to keep the book values of buildings on a correct basis. The board recommends to shareholders tliat a dividend of 8 per cent for the year be declared, of which one half was paid in. November last.”

The following shows the net profits obtained during the past five years:—l924, £6952; 1925, £9481; 1926, £94G2; 1927, £9018; 1925, £10,286..

BRETT PUBLISHING COMPANY

Dominion Special Service.

. Auckland, May 9. ’.l lie eighth annual meeting of shareholders of the Brett Printing and Publishing Company was held this morning. The directors’ report stated that tho. Staff Superannuation Fund, mentioned the previous year, came into operation on April 1, 1927. The company’s contribution to the fund for the twelve months ended Marell 31 last was £3574.

The ehairman, Mr. W. C. Levs, said the various publications of the company had shown good results over the period under review. While it' could not be definitely determined what effect an opposition paper had on advertising revenue, there was one important aspect that could be discussed with certainty, and that was the question of circulation. Tlie "Auckland Star” had felt the effect of the opposition in this vital matter only to a negligible extent. There was originally very little loss of circulation, and it was pleasing’ to bo able to state that during the past six months there had been the normal increase in circulation that would be legitimately anticipated were there no opposition evening paper in the field. A dividend of 10 per cent.; and a bonus of 24 per cent, was declared.

CANADA’S WOOL TRADE

It seems probable that Canada’s purchases of wool in Australia and New Zealand will expand in the near future, for another woollen factory is to be established in British Columbia. Mr. •T. Moore, worsted spinner, of Marshall Mills. Bradford, has decided to transfer tlie whole .of his plant to Canada. He lias been influenced in this decision by tlie tempting offer of the municipal authority at Victoria. British Columbia, of free land on which to build, a mile of free water and exemption from local rates for seven years. The new mill, designed by a firm of Bradford architests, will be driven by electricity. The Bradford

plant, consisting of 7099 spindles, is quite modern, having been installed within the Inst four years. Another firm. Messrs. H. Hey and Co., worsted spinners, of Prospect Mills, Keighley, has a similar offer from Canada to transfer their business, but declined.

CURRENCY NOTES

The currency notes issued by the British Government as an emergency measure are shortly to pass under the control of tlie Bank of England. This, it is said, will be of great benefit to the country, as it will bring the control of all currency under one bead, thus economising in the present excessive issue, and allowing greater elasticity to the Bank of England. The currency notes ou issue amount to about £285.000.000. and the Bank has been making preparations for the transfer. Four hundred million banknotes of an entirely new design are being printed at the rate of a million a day at the printing department of the Bank of England, and these will replace the existing pound and ten shilling Treasury notes. Treasury and banknotes are made of the finest quality rag-paper, very different from the

easily tearable wood-pulp paper used for newsprint and cheap stationery. The paper comes from mills on the banks of a Hampshire stream, where the water is specially suited to the production of h|gliest grade paper. The average life of a Bank of England or Treasury note is said to be remarkably short, notes being returned, in some cases, within a week, utterly useless for further circulation. This is due. not to the paper wearing out, but to its becoming very soiled in passing from hand to hand. The useful life of a note also varies according to the district of circulation, a curious paradox being that they survive the least time in mining districts and in the West End of London.

WHEAT MARKETS.

(Australian Press Assn.—United Service.)

(Rec. May 9, 5.5 p m.) London, May 8.

Wheat.—Cargoes are dull, and quotations are mostly 3d. to 6<i. per quarter lower, but buyers are unwilling to operate Reading Canadian and American official crop reports. Parcels are inactive at 3d. to (id. decline. At Liverpool parcels by the Nowshere brought 555. Liverpool futures: May, 10s. 11 l-Bd. per cental; July, Us. 2 5-Bd.; October, Ils. 4 1-Sd. Chicago, May 8.

Wheat futures: May. 1 dollar 60J cents per bushel; July, 1 dollar GO 7-8 cents; September, 1 dollar 59 5-8 cents

P. AND O. STOCK. (Rec. May 9, 5.5 p.m.) London, May 3> P. and O. deferred stock, £251

COLONIAL SUGAR REFINING COMPANY.

(By Telegraph.—Press Association.)

(Rec. May 9, 8.15 p.m.) Sydney, May 9. At tlie adjourned general meeting or shareholders of the Colonial Sugar Refining Company, the chairman announced that the ballot of shareholders in conneelion with the proposed alteration In the company’s articles resulted in a majority of 11,209 in favour of the amendment.

CUSTOMS REVENUE. The Customs revenue collected at the port of Wellington yesterday totalled £12,580.

Buyers. Sellers. N.Z. GOVT. LOANS— £ s d. £ s. d. ■11 p.c. Ins. Stic. 1939 97 12 6 .44 p.e. ditto. 1938 ... 97 12 G — 54 p.c. ditto, 1933 ... — 1(X 10 0 5} p.c. ditto. 1941 ... 99 1 0 — 41 p.c. Bonds, 1939 .. 97 12 6 — 4A p.c. ditto, 1938 ... 97 12 G 41 p.c. ditto, 1930 ... — 9S 1G 0 54. p.c. ditto, 1933 ... 100 5 0 —— 51 p.c. ditto. 193G ...100 5 0 — DEBENTURES— Wellington (las 100 0 0 — Weil. Racing Club .. 100 10 0 N.Z. Breweries (bonds) — 1 4 0 Wellington City, 51 p.c., .1933 99 5 0 — Ditto, 51 p.c., 1930 .. — 190 0 0 Wanganui City, 51 p.c.. 1945 100 0 0 —- BANKS— Australasia 14 2 6 Ditto (Melbourne re14 G 0 (j Commercial of Aust. (ord.) 1 8 6 Ditto (prof.> 7 0 0 — Commercial Banking Co. 6 26 15 0 English. Scottish, and Australian S 7 0 8 9 6 National of Australasia (£5) 9 o 0 9 4 0 Now South Wales ... 47 .17 6 4S 6 New Zealand 2 19 11 3 b 0 Ditto "D" shares (£1 paid) 1 6 6 Ditto “D” shares (15s. 6 FINANCIAL— Goldsl.rough Mort ... 2 10 0 — N.Z. Guarantee Corp. 4 0 q Dilto (pref.) 1 0 9 N.Z. Loan and Merc* Agency (ord.) 10(1 .0 (1 Weil. Invest.. T. & A. 0 1(1 3 —— Well. Trust, Loan .. G 12 6 Well. Deposit & Mortg. 0 9 0 0 10 0 GAS— Wellington (ord.) .... 1 7 u Ditto (pref.) 0 1G 6 INSURANCE— National q 15 0 New Zealand 2 1 3 Queensland 3 3 3 South Brit isli 2 19 0 MEAT PRESERVING— (Sear 19 N.Z. Rolrlgerat. (£1) 017 0 Ditto (10s.) 0 y Well. Meat Exp. (ord.) 0 1u TRANSPORT— Ilnddart-Ibirker-(ord.) 2 -7 0 •> 8 0 Union Steam (pref.).. 1 11 4 P. and O. del. stock.. — 0 0 WOOLLEN— Kaiapoi (ord.) 0 9 Ditto (eontrib.) 6 •» 0 Wellington (ord.) ... 6 2 0 Ditto (prel.) G 6 0 COAL— Westport 1 g West, port -Stock ton (ord.) 0 •» Ditto (pref.) 0 3 6

TIMBER— Kauri 1 Leyland-O’Brien .... 1 0 1 15 National —— 0 B BREWERIES— New Zealand — o 6 ij Staples and Co — 17 3 \\ ard and Co —— 1 IS 0 Sunshine —— 0 15 0 MISCELLANEOUS— C. M. Banks (pref.) .. British Tobacco (Aust.). — 0 19 0 (ord.) 2 0 4 o 1 (1 Burns, Philp, and Co. 2 Electrolytic Zinc (ord.) 1 •> a • » 0 li) « ... - Ditto (pref.) 1 12 0 — Holden’s Motor Body Builders 1 in 0 1 It 3 Howard Smith (ord.) 1 6 6 Kirkcaldie and Stains (prof.) — 1 0 3 N.Z. Drug 3 8 6 —— N.Z. Paper Mills .... 0 1 7 0 Sharia nd and Co. (ord.) I 0 6 Taranaki Oil Fields . 0 0 MIXING— Mount Lyell 1 12 3 — Wailti — 0 12 6