FARM & COMMERCIAL

Dominion, Volume 21, Issue 194, 18 May 1928, Page 12

FARM & COMMERCIAL

NEWS AND NOTES.

AUCTION SALES TO-DAY. Clarkson’s Garage, 10.30 a.m. —Sale of cars (E. Johnston and Co.) OS Manners Street, 2 p.m.—Sale of sewing machines (Ramsey Wilson and Co.) 79 Huwkstonc Street, 1 p.m. —Sale of furniture (J. W. Koster and Go.) TO-MORROW. 10 Colin Street, Lower Hutt, 1 p.m.— Sale of furniture (E. Johnston and Co.) Atlantic and Union Oil Works, Kaiwarra, 1.30 p.m.—Sale of timber, iron, etc. (E. Johnston and Co.) MONDAY. Karamu Road, Hastings, 2.30 p.m. — Sale of Mount Cameron Estate (Hoadley, Son, and Stewart.) “Quinn’s Post” Hotel, Trentham, 10.30 a.m. —Sale of contents (E. Johnston and Co.) TALLOW MARKET The New Zealand Loan and Mercantile Agency Company, Ltd. have received the following cablegram from their London house under date May 16: —“Tallow.—We quote C.I.F. aud E. values for the following descriptions of tallow: Fine mutton, 41s. per cwt.; good beef, 425. per cwt.; mixed, 395. Cd. per cwt. Market firm."

LONDON WOOL SALES

PRICES FULLY MAINTAINED (Australian Press Assn. —United Service.) London, Muy 16. At tlie wool sales 10,972 bales were offered. of which 4260 were Australian and 1981 New Zealand. There was a good selection of merinos. An excellent tone prevailed for all classes, and prices were fully maintained. New Zealand wools: Campbell Glen Dhu, highest price -7*d., average 26d.; Holton, 27d. and 24Jd.; Maku, -Id. and 181 d. Messrs. Murray, Roberts, and Co., Ltd., are in receipt of the following woo market cablegram from their Loudon avenin, date May 16:-"Sales continue wi 1. a good tone. Greasy'merino, market show s a hardening tendency. beoured merino, best, opening rates are barely maintained. Crossbred greasy, market shows no change. Crossbred scoured, inaiket shows a hardening tendency.” RABBITSKIN SALE WELLINGTON PRICES. The combined brokers, Messrs. Dalgcty and Company, Ltd. and the New Zealand Loan and Mercantile Agency Company, Ltd., held their third sale of rabbitskins yesterday. They report: . , , Good average catalogues were submitted before a full attendance ot southern buyers, exporters, furriers and the local trade. There was exceptionally keen competition for all grades, and prices generally were fully 6d. to 9d. per lb. better than the April sale. On the rates ruling at the last Southern sales, prices here today showed a slight improvement. Late autumns sold up to 87d., early winters to 103 Ad. to lllld., first winters up to Hold. The following are the current quotations:—Runners and suckers, -/id. to 415.; summers, 34}d. to 453 d.; light racks, 48d. to 484 d.; prime racks, 49Jd. to aOd., heavy racks, 39Jd. to 44d.; early autumns, TOld. to ,72jd.; dawny autumns, MM. to £503(1.; late autumns, 77Jd. to 87d.; atlluuins, to 80d.; milky does, 331<1. to 33Jd.; winter 8.5., 55d. to 57Jd.; Incoming ''’inters, Odd. to 102 d.; autumn blacks, 49id. to GCfd.; early winters, 103»d. to mid.; first winters, to 115ld.; hareskins, uOd. to 56d.; small, to 20Jd. WHOLESALE PRODUCE ■ PRICES Messrs. Laery and Co., Lid., report wholesale values as follow:—Mixed fowl feed, five-sack lots or over 65., lesser lots Gs. 3d. per bushel. Linseed meal, 30cwt. lots or over £l5 55.; half-ton lots or over, 165.; lesser quantities, 16s. 6d. per 1001 b. Linseed nuts, 30cwt. lots or over, £l3 55.; half-ton lots or over, 14s. per 1001 b.; lesser lots,' 14s. fid. per 1001 b. Oyster-shell grit, five-sack lots or oyer, 55.; lesser lots, ss. 6d. per 1001 b. lipishell grit, five-sack lots or over, 55.; lesser lots, ss. 6d. per lOOlb. New tealand wheat, G.W. fowl, 7s. Id.; shrivelled, os. 3d. per bushel; undergrade, 6s. lid. per bushel; less than ten-sack lots, 2d. per bushel, extra. Barley, 4s. 9d. per bushel. Oats: Machine-dressed aud clipped seed Algerians, ss. 2d. per bushel; farmers’ dressed seed Algerians, 45.; 'A grade, 4s. 9d.; feed Gartons, 4s. Gd.; crushed, 4s. 9d. j Duns, 4s. 4d. to us. Id. Linseed, whole, 245.; crushed, 275. per cwt. Australian crushed maize, Gs. od. and Cs. 7d. per bushel. Australian whole maize, Gs. lOd. and 7s. per bushel. Partridge peas, 7s. (Id.; feed peas, is. 3d. Wheatmeal, feed, half-ton lots, Ll2 10s. per ton. Meatmeal, feed, half-ton lots, £l3; lesser quantities, 13s. 6d. per cwt. Butter, farmers’ prime separator and dairy bulk pats, Is. Id. to Is. 2d. Turkeys, Is. 2d. to Is. 3d. per lb. Geese, 10s. to 12s. per pair. Ducks, runners, young, Bs. to 10s.; large whites, 9s. to Ils. per pair. Fowls, White Leghorns, 4s. Gd. to ss. Gd.; Black Orpingtous and similar varieties, 6s. Gd. to Bs. Eggs, first grade new laid, 3s. 2d. to 3s. 4d.; preserved, 2s. 2d. to 2s. -id.; storekeeper, 2s. Btl., 2s. Iod. Fungus, New Zealand, Bd. to lOd. Dressed pork, 60s. to 905.; Gd. to 7d. per lb. Suckling pigs, id. to Bd. Maizemeal, Bs. Charcoal, 14s. per 501 b. bag. Rock salt, ton lots, £5 10s.; lesser quantities, 6s. Agriculture salt, ton lots, £5; lesser quantities, ss. Gd. Lucerne hay, prime Blenheim, £7 10s. per ton, ex wharf, Hawke's Bay, £4 17s. Gd., Eo.b., Hastings. Thrashed meadow hay, £3 is. Gd., f.0.b., Hastings. Mutton birds, in kits, Bd. bird; Tasmanian, in casks, id. bird. Molasses, in casks, 385., in cases Bs. Basic slag, 17/20 per cent, arriving June, £4 ss. per ton forward. Blenheim chaff, prime ton lots, £7 10s. per ton ; less than ton lots, Bs. per cwt.; medium quality, ~G per ton; less than ton lots, 7s. per cwt. Java shelled peanuts, 4Jd. per lb., sacks in; Chinese peanuts, in shell, 4jd. per lb., sacks in. Superphosphates, list price. Barley meal, £9 per ton, haßAon lots; lesser lots, 9s. Peameal, half-ton lots, £11; lesser lots, Ils. Gd. Bran, half-ton lots or over, £8 10s.; lesser lots, 9s. Pigmeal, half-ton lots, £8 55.; lesser lots, Bs. Gd. Pollard, half-ton lots or over, £11; lesser lots, Ils. Gd. Black leaf (40), 21b. tins, 135.; 101 b. tins, 50s. Canterbury potatoes, ton lots, Whites, £7; Dakotas, £7 10s. per ton; 'smaller quantities, 10s. extra. Canterbury onions, table, is. Gd. per bag; picklers,-7s. per bag. STOCK SALES The Wairarapa Farmers’ Co-Operative Association, Limited report as follows on Wednesday’s Masterton sale:—We yarded a fair entry of sheep and cattle, which sold at good late sale rates. We report as follows:—b.f. lambs, 245. Gd. and Jos. Gd.; 2-tooth wethers, 275. G.; empty ewes, 14s. 6d. Cattle:—Forward steers, £9 10s. and £9 165.; fat and forward, £7 55.; empty heifer, £5 10s. The New Zealand Loan and Mercantile Agency Company, Limited report that at their .Masterton sale on V ednesday they offered to a good attendance of buyers a small yarding of lambs, which was sold at very satisfactory prices, as follow:—b.f. lambs (good condition), 235. Bd., 235.; shorn lambs (good condition), 235. ” The Wairarapa Farmers’ Co-Operative Association, Limited report on their Eketahuna sale as follows: —We offered a good entry of a little over 750 sheep, most of which were four and five-year ewes In lamb to S.D. rams. These met with particularly keen competition, especially those sold on account F. H. Richards (Mr. Richards’ lease has expired), the best of which made up to 365. fid. A few lots ot good ewe lambs also sold readily, the best line realising 275. 9d. We report a total clearance as follows: —77 four and five-year ewes running with S.D. rams, on account of F. 11. Richdrds, 365. (id.; 35 ditto, 455.; 45 ditto, 345.; 31 ditto, 355.; 17 ditto, 31s. fid.; 61 ditto, 325. 9d.; 109 ewe lambs, on account of L. and 11. C. Percy, 275. 9d.; 100 wether do, 20s. On account of other vendors: 40 S.M. running with S.D. ram, 235. fid.; 38 ewe iambs, 255. 3d.; 83 ditto, 245.; 127 wether lambs (on account of E. H. Escott), 245. fid.; 40 ditto, 175.: 27 wether lambs, 215.; 9 b.f., 19s. 3d. A few small lots of wethers and lambs made good sale rates. Three- fat cows, £5 10s.; 1 cow in milk, October calver, £7 10s.; 1 cow in milk, empty, £3 10s. ; 1 lieifer in calf, £5 10s. DAIRY PRODUCE Messrs. Joseph Nathan and Co.. Ltd., have received the following cablegram from their London house, dated May 16: New Zealand butter market quiet., but firmer, 168 s. to 170 s. per cwt. New Zealand cheese weaker, 955. to 90s. per cwt.’ The New Zealand Loan and Mercantile Agency Company, Limited have received the following cablegram from their Loudon house, under date Maj' 16 (last week's quotations in parentheses):—Butter: New Zealand choicest salted, IGSs. per cwt. (164). Market firm. Cheese, 05s. to 07s. per cwt. (975.). Market slow.

boric acid in BUTTER

UNNECESSARY IN HIGHGRADE ARTICLE

Dominion Special Service.

Auckland, May 17. \ statement in defence of the proliibition Of the use of boric acid in the manufacture of butter was made by Mi. w. Goodfellow, managing-director ot Zealand Co-operative Daily tompanj, L Referring to tlie recent London statements on the question, Mr. Goodfellow sikl: ’’Tim New Zealand Co-operative Dairy Company has tor several years past been making the whole of its production without the use of boric avid 1 noi to coming to the decision to do so the cumi°anv ! s chief chemist carried out. an extensive series of experiments over mt ev-te <l 'd nerlod. They amply deinonsha e i till fact that boric add is unneeSry as a V St? b aeH -ood oualitv. Undoubtedly boric acid was of value in (lie sale of low quality butter and particularl.v In blended butter ’From private information received by tlie company it was ll ' 1 '• J, 1 * 1 , obicctioiis now being \oiced in nonuon r.-ainst the abolition of preservative emanated iargelv from tlie blending trade. As a mil er of fad Ills company's sales of earton butter had 'nateriaily m’anile; m recent months ns a direct result or inui tlnlp slions selling carton butter instead of k’ bC-nded’article as hitherto. “The compulsory abolition of tlio us of I‘reservativcK in the maniifacturo of of oninion that it would be a jerj 100 isli tilin'’ if the industr.v abetted anj agitation for the cancellation of the restrietions. HERD TESTING mana WATU RESU Its. Dominion Special Service. Palmerston North, May 17. Following is a summary of all groups of the Manawatu Herd Testing Association for the month of April. An aver; age over the whole association of lb. butter-fut per cow, as against ~3.< <lb. butter-fiit per cow for the 31-day period of March is shown, which is a drop ot 3.301 b. for the mouth. Group No. 1 —Average, lO.ullb. b'iDerfat; highest herd. 94.64: lowest, I~,oj ; highest cow, 53.55; lowest, 1.74. Group No. 2—Average, 21.101 b. butterfat ; highest herd, 34.59; lowest, 10.0_; highest cow, 45.95; lowest, 2.81. Groun No. 3 —Average, 1i.341b. but-ter-fat ; highest herd, 23.38 ; lowest, 10.0.7 ; highest cow, 46.23; lowest, 1.98 Group No. 4 —Average, 19.491 b. butterfat; highest herd, 28.62; lowest, 14.74; highest cow, 48.08; lowest, 4-6 p. Group No. s—Average, 20.181 b. but-ter-fat; highest herd, 26.06; lowest, 14.04; highest eow, 48.08: lowest, 2.4 b. Group No. 6—Average, 19.521 b. butterfat; highest herd. 26.53; lowest, 12.75; highest cow, 62.37; lowest, 1.62. Group No. I—Average, 18.161 b. but-ter-fat; highest herd, 31.53; lowest, 7.94; highest cow, 56.44; lowest, 2.25. Group No. B—Average, 20.071 b. butterfat; highest herd, 26.91; lowest, 9.45; highest cow, 41.34; lowest. 2.25. Group No. 9—Average, 22.331 b. butterfat: highest herd, 32.15; lowest, 18.30; highest cow. 54.061 lowest, 3.37. Group 10—Average. 23.671 b. butterfat: highest herd, 32; lowest, 16.45; highest cow, 59.53; lowest, 4.42.

COMMERCIAL ITEMS

WELLINGTON STOCK EXCHANGE

YESTERDAY’S BUSINESS AND PRICES

There were no sales registered at the morning call yesterday. At the afternoon call sales were reported of 4J per cent, bonds (1935) at £97 155.. Now Zealand Drug at 695. 3d., and Wellington Gas at 285.. and a sale was made on Chauge of Wellington Gas at 28s. Government securities were steady. The ■U per cents, were wanted at £97 12s. Gd., the 5f per cents, at £99 55., anti the 5} per cents. (1933) at £lOO ss. and 1036 at £lOO 7s. Gd. Wellington City 5J per cents. (1933) were firm at £99 ss. Bank shares were steady and firm. There were buyers of Bank of Australasia at £l4 Gs., new Issue, fully paid, at £l4 3s. Gd.. and new issue, first instalment paid, at £6 Is. 6d„ Australian Bank of Commerce at 345. 3d.; Commercial Bank (preference) at £7 Is., new issue at l_u. Bd.: National Bank of Australasia (£/ paid) at £9 2s. (cum. dividend), Bank of New South Wales at £4S (cum. dividend). Bank of New Zealand “D , Khajes at 2Gs. 9d„ and Union Bank at £l4 17s. Gd. Sellers quoted £7 2s. for National Bunk of New Zealand, and 60s. fid. for Bank of New. Zealand. , „ . . . Financial shares were in fair demand, especially mortgage companies shares. Goidsbrough Mort were wanted at 50s. fid., New Zealand Guarantee Corporation, ordinary at Ss. 4d., and preference at 21s New Zealand Investment at Bs. ou.» n cllinffton Investment at 10s. 5d., V ellington Trust and Loan at £6 155., New Zealand and River Plate at 2i)s. Gd., New Zealand Loan and Mercantile at £lO3, and AV ellington Deposit at 9s. New Zealand Insurance were hrm at 41s. fid., and South British at Ms. Gd. Wellington Gas were wanted at 275. fid.. New Zealand Refrigerating (20s. paid) at. 17s. Gd., and Wellington Meat Export (ordinary) at 10s., 6d. . 1 Huddart-Parker at 465. <>d. ■’h o '"' a sligiit weakness. Wellington M oollen (preference) were firm at £6 Gs., and Westport Coal nt 295. (id. There were buyers of New Zealand Breweries at 42/.. Staples and Co. at 355. 9d., C. M. Banks (ordinary) at 225. fid.. British Tobacco at 42s OdL Burns, Philp at 415.. Dunlop Rubber at 245. fid., Howard Smith at 27s 3d.. Newton King (preference) at. Ils.. Taranaki Oil at 95., and Wilsons Cement at Yesterday’s buying and selling quo-

SALES IN OTHER CENTRES BY Telegsaph.—Press association.

Auckland, May 17. Sales. —Inscribed Stock, 19M, 4} per cent £97 155.; Commercial Bank ot Australia, 28s. 0.1.: New Zealand 41s. fid.; Fullers’ Pictures, 20s. 3d., Nz. Drug Co.. 60S. 3d.: N.Z. Farmers Fertilizer, 055.; Taranaki Oil Fields, 95., BS ' lld ' Christchurch, May 17. Sales.— Goidsbrough -'loH'.. (5°PC^ , ;- , Mt 3S lj 1 en U &m 0 div.,: 35 u,l^r<^s.)' 11, brough Mort., 51s (2 j]ay New Zealand Express Co. (ord.), 20s. 9d. Sales reported^—New Zealand Express Co (ord). 20s. fid.; New Zealand RefHgerating (pd.), 17s. lld.

ENGLISH APPLE MARKET. (Australian Press Association.) London, Maj' K>. The apple market is fairly stead.v. The Oronsav’s Tasmanian Scarlets, Bs. Gd. to 10s ‘ ('ox’s, 10s. Oil. to 11s.; Munros, 9s. fid'.'to 10s.; Crabs and Alfristons, 10s.; Now Yorks. Ils. to Ils.; others, Bs. 3d. to »s. fid The prices of the Morton Bay s and Ceramic's cargoes of -South A ' ,a ‘ ral '?'! fruit were:—Jonathans, 10s. to 11S. ml., Dunns 12s to 135.; London Pippins, 10s. to Ils'.’; Strawberry, Bs. till, to 9s. Gd. The Mahana’s New Zealand Jonathans, Dunns, and Delicious. 10s. to 125.; Cox’s were overripe and wasty. The Moreton Bay s lictorian pears were wasty. 1 rices. Haltboxes Winter Nelis. 4s. 3d. to Ils.: .Tosephntes, 3s. 9d. to Bs. 9<1.; Boses. Is. 6d. tii 7s. 6<L; boxes of Keiffers. »s. to 10s. Gd.; Glout Morccau, 10s. Gd. to 155.; Winter Cole, is. Gd. PRICE OF GOLD. (Australian Press Assn. —United Service.) (Rec. May 17, 5.5 p.m.) London, May 16. Tlie price of gold is £4 4s. lld. per ounce.

CHICAGO WHEAT QUOTATIONS. . (Australian Press Association.) Chicago, May 16. Wheat Futures. —May, 1 doßar 49 3-8 cents per bushel; July. 1 dollar oo* cents; September, 1 d<> llar cents.

AUSTRALIAN PRODUCE MARKET. (Roe. May 17. 8 p.m.) Sydney, May 17.

Wheat —Growers’ bagged lots at country stations. 4s. Hid. to ss. per bushel; ex truck, Sydney, ss. 7d. to „s. 71d. Flour. Bxport trade lifeless. Local, £l3 I*’S. per ton. Bran, £7 per ton. Pollard, £8 per ton. Oats. —Tasmanian Algerian. 4s. 6<l. to 4s. fid. per bushel; white, 4s. Gd. to 4s. 10d. Maize.—Yellow, 4s. 2d. per .bushel/ white, 4s. Gd. Potatoes.—Tasmanian, £a to £8 10s. per ton. Onions.—Victorian, £l3 per ton. „ Adelaide, May 17. Wheat.—Growers' lots, ss. 6d. to ss. 7d. FHour. —Bakers’ lots, £l4. Bran, £7 -s. Gd. Pollard, £8 15s. Oats, 3s. 3d.

PHILADELPHHA BANK KATE RAISED. . (Australian Press Association.) (Rec. May 17. 5.5 p.m.) Philadelphia, May 16. The Federal Reserve Bank of Philadelphia has raised the rediscount rate from 4 to 41 per cent, on all maturities.

CANADIAN TRADE. Ottawa, May 16.

Canadian exports for April were approximately 59,000.000 dollars, against 77,500,000 dollars • for April, 19-7. Imports were 78.500,000 dollars against 74°50 000. Customs and' excise duties amounted to 19,500,000 against 20,500,000 dollars.

CUSTOMS REVENUE. The Customs revenue collected nt the pankWl XnpaoisoZ iio)3uin a A\. J° l joa

tations were as uader:Sellers. N.Z. GOVT. LOANS- n £ s. d. £ s. d. 44 p.c. Ins. Stk., 1930 9712 1 44 n.c. ditto, 1938 ... 9i 12 b 54 p.c. ditto, 1933 ... — 100 15 0 5J p.c. ditto, 1941 ... 99 5 0 — 44 p.c. Bonds, 1939 .. 97 1- b —• 44 p.c. ditto, 1938 ... 97 12 0 — 54 p.c. ditto, 1933 ... 100 g ’ — 54 n.c. ditto. 1936 ... 100 7 b —— DEBENTURES— N Z Breweries (stock and 14 0 Wellington City, 5J BANKS— n n Australasia •••••••• ; Ditto, new issue (pd.) Hub —— Ditto (first instalment paid) 6 1 6 Australian Bank of Commerce IB •> — iJiltO IP*C1./ • • „ Ditto (new issue) .... Oil 8 < 2 0 NaUonal of Australasia 9 2 0 New South Wales .. 48 0 0 New Zealand .....• ■ • — 3 0 9 Ditto "D” shares (£1 paid) •••• 10 9 Ditto “D shares (lus. paid) • ••••; 3 4 « Union of Aust 14 17 0 14 19 0 FINANCIAL — „ „ Mort .. - 1U J N.Z. Guarantee Corp. . (ord., 8s.) 1 8 Ditto (pref.) ........ 1 1 0 0 8 7 N.Z. Invest., Mortg., and Deposit •••••• 8 y —— N.Z. Loan and Merc. Agency (ord.) . ...10o 0 0 109 0 0 N.Z and River Plate 1 6 Well. Invest. ,1. & A. 0 10 a 0 11 0 Well Trust. Loan .. b lo 0 ■ Weil. Deposit and Mortgage’ 0 9 0 0 10 0 GASChristchurch . - 1 4 3 Ditto (contrib.l .... Oil o Wellington lord.) ... 1 ( J Ditto (pref.) 0 lb b insurance— 0 15 R National .. New Zealand - 1 « South British ....... 2 19 6 — MEAT PRESERVING — 1 19 9 NZ. 1 Refrigerat. (£1) 0 17 G 0 K 6 Well” bleat Exp. (ord.) 0 10 6 Ditto (pref.) ~ 1 2 G TRANSPORT— Huddart-Parker .... - b 3 p and 0. def. stock.. — 2 7 3 253 0 0 'kaiapoi L (contrib.) ...0 2 0 COAL 196 "Westport 1 J 0 0 15 0 TIMBER— , or* g Taupo Totara breweries— „ „ New Zealand - - 0 Staples and Co. 1 L> . » Ward and Co. 1Jg . 9 1*17 8

MISCELLANEOUS— C. M. Bajiks (ord.).. 1 2 0 Ditto (pref.) ........ British Tobacco (Aust.), — 0 19 0 ) . 2 9 4 3 Burns, ' Philp, and Co. 2 1 0 1 9 D.I.C. (pref.) 1 1 o Dunlop Kubbcr ...... 1 4 G Electrolytic Zinc (pref.) ■—• 1 13 0 Howard Smith (ord.) 1 7 3 — Newton King (pref.) U 11 0 N.Z. Paper Mills .... — 0 16 6 Sharland & Co. (ord.) 1 0 3 Taranaki Oil 0 n 0 ■— Wilson’s Cement ..... 1 18 9 MINING— 1 13 0 Waihi •—