FARM & COMMERCIAL

Dominion, Volume 21, Issue 190, 14 May 1928, Page 12

FARM & COMMERCIAL

I JNEWS AND NOTES

AUCTION SALES TO-DAY. Greytown Saleyards.—Sale of land (Dalgety and Co.) Peter Street, 10.15 a.m.—Sale of car; 10.30 a.m., sale contents carpenters’ workshop (Ramsey Wilson and Co.) S Willeston Street, 1.30 p.m.—Sale of wireless sets (B. Johnston and Co.) S Willeston Street, 12.30 p.m.—Sale ladies’ goods (E. Johnston and Co.) TO-MORROW. Dominion Farmers’ Institute, 2.30 p.m. —Sale of laud (H. Baker, Ltd.) Maxwell, 2.30 p.m.—Sale of stock (Farmers’ Co-op. Organization of N.Z.) Dominion Farmers’ Buildings, 17.30 p.m. —Sale of shopping sites, Hutt Valley (Commissioner Crown Lands.) Cuba Street, 1 p.m.—Sale of carpets (E. Johnston and Co.) Levin sale. WEDNESDAY. 105 Customhouse Quay, 11 a.m. —Sale of laud at Eastbourne (S. G. Nathan and Co.) 45 Pipitea .Breastwork, 11 a.m.—Sale of cars (E. Johnston and Co.) LONDON TALLOW SALES Messrs. Dalgety and Company. Limited, report having received the following cablegram from their London house under date May 11:—Tallow: Owing to scarcity of supplies, there will be no public sales next week.

FARMING INTERESTS

LIVE STOCK SALES

AUCTIONEERS’ REPORTS

WESTFIELD. Messrs. Dalgety and Company, Limited report having held their usual weekly sale of fat stock at Westfield on Wednesday last, as under;— Beef.—There was a large yarding of ox beef. Bidding was somewhat erratic, and, although in the greater portion of the market last week’s prices were fully maintained, in odd patches values were easier. Cow aud heifer beef was subject to very keen competition, and sold at fully last week’s rates. Extra choice ox sold to 375.| per 1001 b.; choice and prime, 335. to 365.; just killable, 28s. to 315.; prime young cow aud heifer, 275. to 295.; just killable, 245. to 265.

Sheep.—A somewhat smaller yarding, values being firmer for all classes. A consignment of extra prime wethers on account of Mr. It. Hannon, Cambridge, sold to £1 16s. 9d. Extra heavy prime wethers made Bl 16s. 9d.; heavy prime, £1 12s. Cd. to £1 15s. 6d.; medium, £1 10s. to £1 125.; light and unfinished, £1 Bs. to £1 9s. Gd.; extra heavy prime ewes, £1 10s. 3d.; heavy prime, £1 Bs. to £1 9s. Cd.; lighter, £1 ss. Cd. to £1 75.; other ewes, £1 3s. to £1 4s. Lambs.—A large yarding, prime lambs selling readily under keen competition. Extra heavy prime lamb made £1 10s.; heavy prime, £1 Gs.'6d. to £1 Bs.; medium, £1 3s. Cd. to £1 55.; light, £1 to £1 3s. Store lambs were also subject to keen competition, a line from Mr. W. Julius Hyde, Takatu Point, selling at ISs. to £1 os. 6d. Calves.—A moderate yarding, which sold under, keen competition. Runners made £4 IGs. to £5 75.; heavy vealers, £2 15s. to £3 145.; medium, £2 6s. to £2 145.; light, £1 10s. to £2 ss. Pigs.—A largo yarding with baconers very firm, porkers not showing any improvement on recent rates. Choppers made £3 to £5 65.; heavy baconers, £4 12s. to £4 155.; medium baconers, £4 to £4 10s.; light baconers, £3 10s. to £3 18s.; heavy porkers, £3 35.; medium porkers, £2 10s. to £3; light porkers, £1 ss. to £2 ss. FEILDING. The N.Z. Loan and Mercantile Agency Company, Ltd., report as follows on the Feilding sale, held, on Friday:—There was a good yarding of good quality sheep submitted to a large attendance of the public. Fat sheep came forward in fair quantities, and sold well under the hammer. Store sheep also showed a sharp rise on late rates. Only a limited yarding of cattle was ottered. Quotations:— 1 Fat lambs, 215., 245., 265. Td., to 355.; fat ewes (maiden two-tooth), 355.; cwos, r.w. S.D. rams, 28s. 3d.. 295. Gd., to 335.; B.F. lambs, ISs. Cd., ISs. 90.; wether lambs, ISs. Id., 20s. 9d., to 21s. LONDON WOOL SALES GOOD COMPETITION AT LATE RATES (Australian Press Association.) London, May 11. At the wool sales 9600 bales were ottered, of which 5051 were New Zealand and 1698 Australian, including a miscellaneous selection of merinos and a moderate offering of greasy crossbreds, mostly secondhands, and an excellent selection of sllpcs. There was good general competition at late rates. Dalthorpe brought up to 31d. and averaged 27-Jd.; Ultima, 43d. and 42}d.; Katandra, 48)d. and 47d. New Zealand clips: Urcot, 24d. and 23d.; Hiku. 21}d. and 20d.; W.A.N.D.C., 25d. and 19ld.

LONDON WOOL’ MARKET Messrs. Murray, Roberts and Company, Limited, are in receipt of the following wool-market quotation from their London agents, dated-May 11:—• Opening Closing rates, rates, May March series, series, d. d. CO-64’s (N.Z. Merino) yield-

DAIRY PRODUCE Messrs. M. A. Eliott, Palmerston North, have received the following cabled advice from their London agents:—Butter: Firmer, 1625. to IGGs. Cheese: Quiet, 965. to 975. The New Zealand Producers' Co-opera-tive Marketing Association’s weekly cabled market report from London, dated May 11, is as follows:—Butter: Market firm, with improved demand. New Zealand finest. 1645. to IGGs.; first grade, 160 s. to 1645.; unsalted, 16Ss. to 1765.; Australian, 1525. to 15Gs.; Argentine, 1525. to 1565.;

Danish, 1795. to 180 s.; Esthoniau, 1605.; Siberian, 150 s. to 1525.' Cheese: Market quiet. New Zealand finest white and coloured, 06s. to 975.; first grade, 05s. to 90s.:' Canadian old season’s white, 110 s. to 1125.; coloured, 108 s. to 110 s. Messrs. A. H. Turnbull and Co. have received a cablegram from their principals, Messrs. W. Weddel and Co., Ltd., dated London, May 11, reading as follows (last . week's quotations in parentheses):—Danish butter, 1795. to 180 s. (1795. to 180 s.); New Zealand, unsalted, IGSs. to 170 s. (106 s. to 1725.); New Zealand salted, 1625. to 160 s. (102 s. to 100 s.). Rather better demand. Now Zealand cheese, white and coloured, 90s. to 975. (90s. to 985.); market quiet.; Canadian cheese, white, 112 s. to 114 s. (110 s. to 114 s.): Canadian cheese, coloured, 108 s. to 112 s. (108 s. to 110 s.). Amalgamated Dairies Limited have received the following market report from their London manager, under date May 10: —■‘Butter: Our price unchanged (Anchor 108 s.); sellers now asking .£8 Us., £8 4s. on 'improving demand. Danish £8 Ils. f.o.b. Cheese: £4 175., slightly weaker.”

WINTER FEED

ASSISTING AUCKLAND FARMERS FREE CARRIAGE OF HAY Details were announced by the Minister of Agriculture (Hon. O. J. Hawken) on Friday, of the Government's proposals for assisting by way of free railage on hay, a number of farmers in portions of the Auckland province, where drought conditions have brought about a serious shortage of winter feed for dairy cattle. The Minister stated that the facility of free railage would be available to approved applicants during the coming winter and spring, and would cease not later than October 31. “The funds fit the disposal of the Government for carrying out this decision,” stated the Minister, “are limited, and the concession will, therefore, necessarily be subject to conditions calculated to ensure that those farmers in the area concerned who are most in need of assistance will receive the benefit.” Conditions Outlined.

“The principal conditions proposed are that free railage of hay will not be granted to any person financially able to bear the cost of railage, nor for distances longer than are considered necessary; that the applicant will be required to make a declaration, certifying the number of head of dairy stock kept on his farm, and undertaking that the whole of the hay will be used for the purpose of feeding that stock: that sufficient hay is not otherwise available for the purpose; and that ho is not at the time of application In a position to bear the cost of railage on the fodder. Application for the concession will require to be made to the inspector of stock. Department of Agriculture, for the district in which is situated the farm on which the hay is to be used. Applications will bo considered in order of their receipt, and the applicant will be informed of the result as quickly as possible. Each Caso On Its Merits.

"The necessary instructions are being issued immediately to the officers who are to deal with the work; but a few days will elapse before they will be in a position to receive applications, owing to the necessity of printing and distributing the requisite forms,” said the Minister. “I fully appreciate the difficult position of the farmers affected, however; and they may rest assured that the scheme will be put into operation with all possible speed.” “I should like to emphasise that each case will be treated on its merits; and persons ordering hay in anticipation of the free railage being granted must understand that they do so at their own risk. The Government will accept no responsibility for the carriage of hay except in cases in which the inspector of stock has notified the applicant that the concession has been granted.” FROZEN MEAT LONDON QUOTATIONS. (Australian Press Assn.—United Service.) (Rec. May 13, 5.5 p.m.) London, May 12. Latest quotations for frozen and chilled meat are ns follow:— Sheep. Canterbury, heavy, Cd. per lb. North Island, heavy, 5 7-Bd. Patagonian, light 5 7-Bd., medium 5 5-Bd., ewes sd. Lambs. Australian, firsts, other States, Sid.; seconds, Victorian, SJd. Argentine, firsts, light, 8 5-Sd. Patagonian, firsts, light, SJd.'; medium, 8 l-Bd. Frozen Beef. New Zealand hinds, 5 3-Sd. Australian crops, 3 11-16 d.; hinds, 5 1-Sd. No Argentine hinds were on offer. Chilled Beef. Argentine, hinds, 7}d. Other meats are unchanged.

OTHER ADVICES

Messrs. Levin and Co., Ltd., have received the following cablegram from their London agents, May 11:— Frozen meat quotations (prices on a delivered basis, i.e., including storage charges, cartage, tolls, etc.): —Down lambs, 281 b. to 421 b., Old. per lb.; best North Island, 281 b. to 421 b., 9Jd.; ordinary North Island, 281 b. to 421 b., 9}d.; second quality lambs, 9 3-Bd.; best North Island wethers, 481 b. to Glib., Gid.; best North Island wethers,' Glib, to 721 b., sjd.; ordinary North Island wethers, 481 b. to G4lb., Gid.; North Island ewes, 481 b. to 641 b., sjd.; North Island ewes, G4lb. to 721 b., 4 7-Sd.; New Zealand prime ox beef, 1001 b. to 2201 b., 41 d. As compared with last week’s quotations, heavy wethers ars Id. per lb. higher, others unchanged. The market is firm all round, with a better demand. SMITHFIELD PRICES.

The New Zealand Meat Producers’ Board has received the following cablegram from its London office, dated filay 11, advising Smithfield delivered prices averaged for week ending that date as follow (prices for the two previous weeks are also shown):} New Zealand Wethers and Maidens. — Canterbury quality, selected brands. 561 b. and under, 7 l-Bd. (7 l-Bd., 7d.); 571 b. to G4lb., Gid. (6Jd„ 6 3-8 d.); 651 b. to 721 b.. Ud. (old., 53d-)- Other brands, 561 b. and under, 7d. (7d., 6 7-Sd.); 571 b. to 641 b., 6 3-Sd. (6 3-Bd., Cfd.); 651 b. to 721 b., 5 7-Bd. (5Jd., 54d.). New Zealand Ewes.—64lb. and under, sjd. (s}d., s}d.). New Zealand Lambs.—Canterbury quality. 3Glb. and under, lOd. (10d., 9 7-Bd.) ; 371 b. to 421 b., 9 3-Bd. (9 3-Bd., 9Jd.) ; 431 b. to 501 b., 83 d. (BJd., Sj)d.); seconds, Old. (Old.. 9 3-8). Selected brands, 361 b. and under, 9Jd. (9Jd„ »Sd.); 371 b. to 421 b„ OJd. (o(d., 9 l-Bd.). Other brands, first quality, 361 b. and under, 9 5-Bd. (9 5-Bd., OJd.J; 371 b. to 421 b.. 9 1-Sd. (9 l-Bd., 9d.); second quality. 301 b. to 321 b. average, 9 3-Bd. (9 3-Bd., 9 3-Bd.). . Australian Lambs—Victorian, first quality, 361 b. and under, not quoted; 371 b. to 421 b., not quoted. Argentine Lambs.—First quality. 301 b. and under, 8 5-Bd. (BJd., BJd.); 371 b. to 421 b., 73d. (73d., Bd.). New Zealand Beef—Ox fores, 3}d. (3Sd., 33d.); ox hinds, 5 3-Bd. (s}d., 5d.); cow fores, 3}d. (3id., 3fd.); cow hinds, 4Jd. Argentine Chilled Beef.—Ox fores. 41(1. (41d.7 4Jd.); ox hinds, 7}d. (Qd., 7 1-Sd.). Argentine Frozen Beef.—Ox fores, 4 1-Sd. (4 1-8(1., 4 1-Sd.); ox hinds, not quoted *PoVk.—Porkers, COlb. to 8011)., 74d. (74d., 7Jd.); 811 b. to 991 b., Old- (GJO-, (JJd.) ; 1001 b. to 1201 b.. GJd. (Gjd., Md.); beconers, 12111). to 180 lb., 7d. (id., id.). Frozen Veal.—not quoted. Lambs. —Consumption steadily improving; market firm. ... Mutton Market: Owing to lesser supplies of Horae killed, market firm, licet’ Market—Better trade owing to higher prices ruling for Argentine chilled beet. New Zealand Porker Pigs.—Trade will be slow until September. New Zealand Baconer Pigs.—Nominal prices. Stocks exhausted. The New Zealand Loan and Mercantile Agency Company, Ltd., have received the following cablegram from their London house, under date May 11 :-Lainb: market steady, Mutton: Heavy-’uei o hts, 4d. dearer. Last quotations: Lamb..) 3-bd. er lb Mutton: Wether and maiden ewe, light Gid per lb.; wetlicr and iniden ewe, heavy. Tl. per lb’.; ewe, light 5 3-Sd. per lb.; ewe, heavy, 5 l-Bd. per lb. SEEKING NEW MARKETS FOR MEAT UNITED STATES AND CANADA. With a view to opening up a market for our frozen meat in the United States of America and Canada, the New Zealand Meat Producers’ Board has inado scteial trial shipments, and as a result of a special visit made bv the board’s London manager to both Canada and the States, it has made further shipments this season A trial shipment of 12,500 lambs sent, forward by the Meat Board lias recently been marketed in New Aork, and a further shipment has been arranged Coinciding with the arrival of Mt. I'orsvth in New York last October, the board shipped to New York a consignment of beef mutton and lamb, and it is pleasin'- to note that tlie beef met a very favourable market and realised good prices —showing that there is a demand for our frozen beef in this direction. At the present moment there is an embargo prohibiting the Importation into the United States of any meat from countries where foot and mouth disease is in existence. Under this order, the whole of Europe and South America are Ptecluded from shipping meat to the United States, so this practically leaves only Canada, New Zealand, and Australia outside of this embargo. From the close investigation which Mr. Forsyth has made in the United States, ho has found the general expression of opinion to lie that the quality of New Zealand lamb was excellent. There is, however in the United States, a greater prejudice against frozen meat than in Britain, due to the fact that the United

States, so far, has had plentiful supplies of fresh meat, and the consuming public, as well as the retailers, are not. accustomed to frozen meat. Until tills prejudice is broken down there will always be a fairly solid price discrimination between froze'n and fresli meat in the fftates. During the last few months there has been a considerable demand for our frozen beef from New York, and also from Montreal, mid considerable quantities have been shipped to these ports. There has also been a good demand for our beef for army orders in Great Britain this year, which, combined with the demand from New York aud Montreal, has caused a good inquiry for fat cattie throughout the Dominion.

From September. 1927, up to April 30, 1928. tlie following quantities of frozen meat have been shipped by various shippers from New Zealand to United States of America and Canada :—

35,383 Quarters beef. 12,850 Carcases mutton 34,965 Carcases Inmb.

Having in view the possibilities of a market for our beef in the United States the board is at present investigating the Question of making a trial shipment of chilled beef to this market.

COMMERCIAL ITEMS

WELLINGTON STOCK EXCHANGE LAST WEEK’S BUSINESS AND PRICES A big business was done last week in sn°i-o kS i and shares - The business was well spiead, covering all the groups. Governnient securities were in good demand throughout the week, but holders were few k s e alM to ti ll, c .°, nse( lbe“Hy there were “Y sales. Ihe 4J per cents, changed (1933) “at ~/nnri t7 i9 Gd p, the 5i per cent - An r Ai ent l S '-i* Sold at £96 ' Cit v’ °t tncN ant J p - r cents - (1943) at £99 os., Auckland Gas 5 per cents. (1943) at £99 I’nr A c? k and Gas C per cents. (1952) at per,cents. (1933) at £lO3, and at £Bo a iss erS C °'° P ’ C - per cents (1930),

As usual, business was brisk in bank shares. Bank of Australasia changed l l q_ nd , s ilat 1 at Cd -> and the rights at •jJs. bd., and 60s. Commercial Bank ordinary sold at 28s. 6d„ 2Ss. 8d„ and 28s. 9d., and the preference at £7 3s. Six parcels of Bank of New Zealand were cleared at 605., 60s. 2d., and 60s. 3d., and a parcel of Bank of New Zealand “D” at "• 1 « Hal£ a dozen parcels of Commerce- , o£ Sydney changed hands at 16s. Gd., £2G ISs., £26 155., and £2G 17s. Gd. Union Bank were sold at £l4 16s. Sd., £l4 175., £l4 195., and £l4 ISs. Gd. Sales -were made of National Bank of Australasia (£s'paid) at £9 2s. Gd., — 9 3s. Cd., and £9 35., English, Scottish, and Australian Bank at £8 ss. Gd. and £8 65., Bank of New South Wales at £4B 2s. Gd., and Bank of Adelaide at £9 6s. A moderate business was done in financial shares. There was a steady turnover of Dalgety and Co.’s, three parcels changing hands at £l4 10s., and two at £l4 Ils. Goldsbrougli Mort and Co.’s also .sold freely at 50s. 3d. and 50s. 4d. Busigiess was done in N.Z. Guarantee Corporation ordinary at Bs. 4d.’and Bs. 3d., New Zealand aud River Plate at 305., and N.Z. Loan and Mercantile ordinary at £lO9 15s. This company has just declared its dividend. Insurance shares, though firm throughout the week, met with little business. National Insurance sold at 15s. Sd., New Zealand Insurance at 41s. Gd., Queensland Insurance at 655., aud Australian Provincial at 9s.

A big business was done in New Zealand Refrigerating, 10s. paid, as many as twenty-three parcels changing hands at Bs. Id., Bs. 3d., and Bs. 4d. Canterbury Frozen Meat sold at £9. Wellington Meat Export were in firm demand throughout the week, and buyers raised their bids to 10s. Gd. at the week-end, but holders of the shares consider them to be worth more. Auckland Gas sold at 235. 3d. Huddart Parker were in good demand, but the blds failed to attract sellers. Union Steam sold at 20s. 6d., and Northern Steam at 15s. 9d. and 15s. lOd. There was a steady demand, for Wellington Woollen, both ordinary and preference, and a sale of the ordinary at £6 4s. was the only transaction recorded. A little business was done in coal shares. Westport Coal sold at 30s. Id. and 30s. 3d., Taupiri Coal at 2<s. 6d., Hikurangi Coal at 45., and WestportStockton ordinary at 2s. 10d., and preference at 3s. 3d. Timber shares were very dull, but business was done m Kauri Timber at 21s. 9d., and Parker, Lamb, at 17s. Gd. A moderate business was done in brewery shares, particularly Australian. New Zealand Breweries- sold at 4us. 9d and 455.. Tooth’s Brewery at 4oS. Gd. and 435. 9d., and Carlton Brewery at 4us. 9d. In the miscellaneous group, there was active business. British Tobacco sold at AOs. lOd. and 415., Burns, Philp, and. Co. at 425. 9d., D.I.C. preference at 20s. 9d., Electrolytic Zinc, ordinary, at 31s. 3d., preference, at 325. Gd.. Howard Smith at 275. 3d. and 275. 4d.. Holden’s Motor Body Builders at 315., Milburn Lime and Cement at 325. 3d. and 325. Gd.. New Zealand Drug at 605., and 60s. 3d., Perdnau Rubber at 325. 3d., Sharland and Co. at 20s. 3d Wilson’s Cement at 395., and nayward’s Pictures at 20s. The shares of the Australian Glass Manufacturers Co. have not been quoted for a considerab.e time, although the company appears to be doing well. For the half-year ended March 31 last, the directors have declared a dividend of 9 per cent per annum on the preference shares, and 10 per ccnt. on the ordinary shares, payable on June -0. Saturday's buying and selling quota-

SALES IN OTHER CENTRES BY TELEGBAPH.— PRESS ASSOCIATION Auckland, May 13. Sales: Auckland Gas 1935. 64 per cent., £103: Auckland Gas shares, 235. 3d.: Kauri Timber, 21s. Gd.; New Zealand Express, 19s. Gd.

Christchurch, Muy 13. Sales: Australian Bank of Commerce, 345., 345. Id. (Sparcels); Commercial'Bank

of Australia, 28s. Bd. (3 parcels); Bank of New Zealand, GOs.l’d.; Christchurch Gas, 245.; Holden’s Motors, 30s. lid., 30s. lOd , 30s 9d.

Dunedin, May 13. Sale: National Bank New Zealand, £7 is. Gd.

WESTLAND BREWERIES LTD.

A telegram was received on Saturday afternoon from Greymouth stating that the Westland Breweries Ltd. had gone to allotment, having received considerably more than the necessary canital reauired for this purpose.

THE WOOL MARKET

The decline in wool values at the opening of the London sales appears likely to continue, but this need not cause any alarm amongst wool growers. Brice fluctuations must be expected in respect of wool as of other commodities, but generally speaking wool is a sound asset, aud is likely to maintain a general high level of prices. Some light is thrown on the wool position in a paper on the “Economic Tendencies in the Wool Textile ' Trade” read at the annual meeting of the Yorkshire Textile Association in Bradford by Sir. N. Shimmin, of Leeds University. He said that latest estimates of the world’s wool production issued by the United States Bureau of Census showed that in the commercially important countries the total production in 1926 was 2,634,000,0001 b., against an average of 2,604,000,0001 b. in the years 1909-13. In other countries for which data was not so carefully compiled the estimated production was 672,000,0001 b. in pre-war days, and 427,000,0001 b. in 1920, or only 63 per cent, of pre-war production. This bald statement of facts revealed concisely the nature of the pressure on world supplies, but the bare figures of wool production gave but little insight into the economic aspirations of the wool-supplying countries, which could not fail to complicate wool textile affairs as the years went by. The closer land settlement in Australia and the policy of protection were considered likely to affect production. In South Africa the decline in popularity of mohair had driven South Africans to cultivate merino, which bade fair to rival Australia’s best. In South America cattle breeding and the meat trade had affected wool production, while in Great Britain, France, and Germany the domestic supplies were appreciably below pre-war levels. With regard to consumption in pre-war days, the United Kingdom registered tlie highest consumption in the world, with a total of 253,000,000 kilos. The United States came second with 235,000,000 kilos, Germany third with 230,000,000 kilos, and France fourth with 210,000,000 kilos. In post-war years the United States had taken _ the lead, J’rance was second, and the United Kingdom third and Germany fourth, li'oreign countries were purchasing more wool direct from primary market, a fact which might ultimately affect Loudon's supremacy. Competition from newly-developing textile countries was indicated by the fact that Japanese wool consumption has increased from 11.000,0001 b. per annum, pre-war, to 72,000.0001 b., and Italy now consumed 13!).000,0001 b., compared with 97,000,0001 b. fifteen years ago.

PRICES OF RAW MATERIALS. (Australian Press Assn—United Service.) (Rec. May 13, 5.5 p.m.) London, May 12. Cottom—Liverpool quotation for Ameriean middling upland cotton, June delivery, ll.lUd. per lb. Rubber. —Fine hard Para, 10id. per lb.; plantation, first latex crepe and smoked ribbed sheet, 8 7-Sd. Jute.—May-June shipment, £3l os. per New Zealand hemp.—April-May shipment, £3l 10s. per ton. Copra.—April-May shipment, £27 per ton. Linseed oil, £3l 15s. per ton. Turpentine, 40s. Gd. per cwt. CHICAGO WHEAT QUOTATIONS. (Australian Press Association.) Chicago, May 11. Wheat Futures.—May, 1 dollar 53 1-8 cents per bushel: July, 1 dollar 53i cents; September, 1 dollar 52 7-8 cents. (Rec. filay 13, 5.5 p.m.) New York, May 12. Chicago wheat: May, 1 dollar 50 cents; July. 1 dollar 50 cents; September, 1 dollar 50 1-8 cents. LONDON PRICES FOR PEARS. (Australian Press Association.) (Rec. May 12, 5.5 p.m.) liondon, May 11. Pears are in active demand, as South African supplies are finished. The Comorin’s Tasmanian trays brought: Winter Coles. 4s. Gd. to ss. Gd.; Bosos, ss. to 6s.

Gd.; Comicd, Gs. to 3s. Gd.: Victorian boxes of Nells, Josephines, and Bosch, 18s. to 205.; Clairgeau, 12s. to 145.; Vicars. 10s. to 12s. New Zealand trays: Nelis, 4s. to Cs.; Josephines, 4s. Gd. to 65.: Bosos, 4s. Cd. to 55.; Barry, 3s. to 3s. 6d. PRICE OF GOLD. (Rec. May 12, 5.5 p.m.) London, May 11. The price of gold is £4 4s. Hid. per ounce. P. AND O. STOCK. (Rec. filay 12, 5.5 p.m.) London, May 11. P. and O. deferred stock, £251. LEAD MOVEMENTS. (Rec. May 12, 5.5 p.m.) London, May 11. Lead, imports 28,018 tons, exports 2347 tons. CUSTOJIS REVENUE. The Customs revenue collected at the port of Wellington on Saturday totalled £•3198.

ing 48 per cent 24 25 56’s yielding 60 per cent. .. 25} 27 50’s yielding 65 per cent. .. 23 24} 44-46’s preparing yielding 74 per cent. 19} 20 44-46’s carding yielding 72 per cent. 19 19 J 40-44's yielding 73 per cent 18} 184 36-40’s yielding 75 per cent. None offering.

tions were as under: Buyers. Sellers. N.Z. GOVT. LOANS— £ 12 d. S. u. 4.V p.c. Ins. Stk.. 19o. 4i p.c. ditto, 1038 ... fii p.c. ditto, 1933 ... 5} p.c. ditto, 193G ... 97 6 97 12 6 100 15 0 100 10 0 51 p.c. ditto, 1941 ... 99 0 0 44 p.c. Bonds, 1939.. 97 12 G — 44 p.c. ditto, 193S ... 97 12 G 41 p.c. ditto, 1930 ... 100 — 98 10 0 p.c. ditto. 1936 ... DEBENTURES— 10 0 N.Z. Breweries (bonds) N.Z. Milk Products (8 1 3 G 1 4 0 p.c. bonds) 1 1 6 BANKS— Australasin 14 o 0 14 6 6 Ditto (rights) ....... Commercial of Aust. 3 0 0 1 8 8 ■ 1 “ Ditto (new issue) ... 0 12 4 •— Commercial Banking — 27 0 0 English, Scottish, and 0 New South Wales .. 47 17 6 — 6 3 0 0 o 0 Ditto "D” shares (£1 1 6 6 Ditto "D” shares (15s. 1 1 6 Union of Aust FINANCIAL— 14 17 0 — Goldsbrough Mort .. N.Z. Guarantee Corp. 10 3 — (ord., 8s.) Wellington Invest., 0 8 4 0 8 G 0 10 3 Well. Trust & Loan.. G 15 0 — Well. Deposit & Mortg. GAS— 0 9 3 0 — 1 9 1 4 0 Ditto (new issue) ... 0 11 Wellington (ord.) ... 1 7 11 1 8 3 Ditto (pref.) INSURANCE— 0 16 7 — ■■.. 0 15 10 New Zealand o 1 4 2 1 8 South British MEAT PRESERVING— 3 0 3 — —- 1 19 9 Well. Meat Exp. (ord.) TRANSPORT— 0 10 6 Iluddart-Pnrker (ord.) 2 7 0 2 7 9 Union Steam (pref.).. 1 0 4 —— P. and 0. def. stock.. WOOLLEN— — 255 0 0 Wellington (ord.) .. 6 5 0 Ditto (pref.) COAL— 6 6 0 — Westport BREWERIES— — 1 10 3 Ward and Co MISCELLANEOUS— — 1 17 9 <’ AT Banks 1 o 3 . Burns, Philp, and Co. 2 3 2 3 0 Dominion Investments i z 9 2 3 0 Electrolytic Zinc (ord.) i 10 9 1 11 G Ditto (pref.) 1 12 6 1 13 Howard Smith (ord.) 1 7 0 1 7 9 N.Z. Paper Mills .... 0 1G 9 Sharland & Co. (ord.) 1 0 3 Well. Queen’s Theatre 1 0 6 — Wilson's Cement .... MINING— 1 18 1 1 19 6 Mt. Lyell 1 2 3 — 0 12 4 Waihi Grand Junction 0 1 3