Farm and Commercial Section

Dominion, Volume 21, Issue 260, 3 August 1928, Page 14

Farm and Commercial Section

LATEST REPORTS from ALL CENTRES

AUCTION SALES TO-DAY. I’etherick's Garage, 10.30 a.m.—Salo of “Spa” and Commerce trucks (E. Johnston and Co.) Mart, 91 Dixon Street, 1.30 p.m,—Sale of furniture, etc. (C. W. Price). Mart. 98 Manners Street, 2 p.m.—Sale of furniture, etc. (Ramsey Wilson). Mart, 8 Willeston Street, 10.30 a.m. — Sale of furniture, etc. (E. Johnston and Co.) TO-MORROW. Dundas Street, Seatoun, Native Sauce Factory.—Sale of stock-in-trade ami fittings, 2 p.m. (C. W.. Price and’Co.) •BONELESS VEAL ’ OPERATIONS AT WAINGAWA. Dominion Special Service. Masterton, August 2. The Waingawa freezing works have opened for the purpose of killing young calves for boneless veal on behalf of the National Dairy Association. About 200 calves came to hand yesterday, and it is expected that between 20,000 and 30,000 will be handled before September 30, to which date the works will remain open for the purpose. The next collection day is Monday. .

FRUIT MARKETING PROPOSED LEGISLATION IN WESTERN AUSTRALIA (Australian Press Association.) Vancouver, August 1. Western Australia will have a Fruit Marketing Act, if the plans of Mr. It. S. Sampson, of the West Australian Parliament. are carried out. Interviewed after ills tour of England and the Okanagan Valley, he declared that the British Columbia Marketing Act is the only growers’ solution. At present there is no Act in Western Australia to assist the organisation of growers. The British Columbia Marketing Act gives power to the committee of direction arbitrarily to fix the prices at which the growers may ship. The consumers are up In arms against it. Nine growers, convicted of shipping without a permit, won their appeal. They contended that the Act was ultra vires. The case will ultimately go to the Privy Council. Mr. Sampson favours the Canadian system of bulk handling of wheat. THE PRODUCE MARKETS BUTTER AND CHEESE Messrs. Joseph Nathan and Co., Ltd., have received the following cablegram from their London house, dated August I;—New Zealand butter. lS2s. nor cwt.; market quiet. New Zealand cheese, 112 s. per cwt.; market firm. The New Zealand Loan and Mercantile Agency Company Limited have received the following cablegram from their London house, under date Ist instant: — Dairy produce (last quotations in parentheses): Butter. New Zealand choicest salted. 182 s. per cwt. (1845.). Market quiet. Cheese: 111 s. per cwt. to 112 s. per cwt. (Ills.). Good demand. NO TALLOW SALES IN LONDON (Australian Press Assn. —United Service.) "London, August 1.

Owing to the small supply of tallow the sales were not held. The Bank of New Zealand, produce department, has received advice from Its London office that the usual tallow sales are not being held this week. It is expected that sales will be resumed on August 15. , „ ... The New Zealand Loan and Mercantile Apcncv Company Ltd. have received the following cablegram from their London bouse dated August 1:— “We quote present c.l.f. and e. values for the following descriptions of tallow:— Fine mutton. 435. Gd. per cwt.; good beef, 435. (Id. per cwt.; mixed, 41s. per cwt. Market quiet. WOOL SALES AND EXPORTS JULY FIGURES. Sales of wool (in bales) in New Zealand during, July were as follow, according to a report received from Messrs. Dalgety and Co.: — (,'orrcs-

WHOLESALE PRODUCE PRICES Messrs. Lacry and Co., Ltd., report wholesale values as follow: —Mixed fowl feed : 5-sack lots or over Os., lesser lots Gs. 3d. bushel. Linseed meal: Half-ton lots or over les. Wd., lesser quantities Ids. per 1001 b. Linseed nuts: Half-ton lots or over 13s. Gd. per 1001 b., lesser lots 14s. per 101) lb: freight paid main line stations on 30cwt. parcels, meal or nuts, oyster shell grit: 5-sack lots or over 55., lesser lots ss. Cd. per 1001 b. I’ipl shell grit: 5-sack lots or over 55., lesser lots ss. Cd. per 1001 b. New Zealand wheat: G.W. fowl (is lid., shrivelled (is. Gd. per bushel; under grade, 6s. Gd. to Gs. lid. per bushel; less than 10-saek lots 2d. per bushel extra. Chick raiser: Coarse, 200's 355. Cd.. 100's 18s.. 50's Ils. Gd., baby 100’s, 18s.. Gd., 50's 10s. Barley: ss. bushel. Oats: Machine dressed and clipped seed. Algerians ss. 2d. bushel; farmers’ dressed seed Algerians. 4s. Gd.: feed Duns, 4s. 3d. to 4s. lid.; machine dressed Duns, ss. Gd.; feed Gartons. 4s. sd. and 4s. Gd.: crushed. ss. Linseed: Whole. 245.. crushed 275. cwt. Australian crushed maize, 6s. 2d. and 6s. 4d. bushel. Gisborne maize, 6s. 7d. bushel. Partridge peas, 7s. 9d.; feed peas. 75.: Prussian blue, 10s. Gd., sacks in. Wheatnieal: Feed, halfton lots, £l2 10s. per ton. Meatmeal: Feed, half-ton lots £l3, lesser quantities 13s. Cd. Butter: Farmers’ prime separator and dairv. bulk and pats. Is. Id. to Is. 2d. Turkeys. Is. 2d. to Is. 3d. per lb. Geese, 10s. to 12s. per pair. Ducks: Runners, voting, 9s. to Ils.; large whites, 11s. to 13s. per pair. Fowls: White Leghorns. ss. Gd. to 6s. Cd.; Black Orpingtons and similar varieties. Bs. to tOs. per pair. Eggs: First grade new laid. Is. Gd. to Is. 7d. Fungus- New Zenhind. Sd. to lod. Dressen pork’-.l'G's to Ims, id. to Bd. lb. Sucking pigs. 7d. to Sd. Maizemeal. Bs. Charcoal. 11s. per sn|b. bag. Rock salt: Ton lids £6. lesser quantities 6s. Gd. Agricultural salt; Ton lots £5. lesser quantities ss. Gd. Lucerne hay: Prime Blenheim £7 Ws. ton, ex wharf; Hawke's Bay £5, f.o.r. Hastings. Rye ami clover. £4 10s.. f o.r, Wairarapa. Mutton birds: In kits. Old. bird: Tasmanian, in casks. 7d. citeii. Molasses: In casks. 40s. Blenheim chaff Prime ton lots. (IS per ton. lessor lots Bs. Gd cwt. Straw elial'f, ss. Gd. sack. Chinese shelled peanuts. 3Jd. per lb., sacks in; Chinese peanuts in shell. 4»i1., sacks in. Superphosphates. list price. Barley nionl. £9 ton. half-ton lots. 9s. Peameal: Hall-ton lots £ll. lesser lots 11s. lid. Bran: Half-toll lots or over £8 Ills., .osser lots 9s. Pigmeal: Halt-ton lots £8 55., lesser lots Bs. Gd. Pollard: Half-toil lots or over £lO, lesser lots 10s. Gd. Black leaf 40: 21b. tins, 135.. 101l>. tins 50s. Canterbury potatoes: Ton lots, white £8 10s., Dakotas £9 ss. per ton. smaller quantities Ills, extra. Canterbury seed potatoes: Sutton Supreme £l2 10s.. Arrau Chief I £G 10s. Gamekeeper £6 55.. Dakota £B. | less than lon lots 10s. extra. Canterbury I onions: Table 12s. bag, .lap.-inese onions 15s. Gd. crate. Mangolds. 275. Gd. ton Grey--1 town. 18s. Gd. ton Hastings.

live stock sales MASTERTON. The Wairarapa Farmers’ Co-operative Association Ltd. report as follows on the Masterton sale:—We offered a fair yarding of sheep to a good attendance. Hoggets were keenly sought after and other sheep made good late sale values. We report as follows:—Ewe hoggets, 29s 3d.; wether do, 275.; forward empty owes, 28s. Id. LEVIN. The New Zealand Loan and Mercantile Agency" Co Ltd. report that at the Levin vards on Tuesday they offered, and sold, a medium entrv of sheep, a good yarding ot cattle (principally dairy sorts), together with a good yarding of pigs (mostly stores). Prices were as follow:—Medium fat wethers, 365. to 3Ss. bd.; fat hoggets, 29s 9d • fat and forward ewes, 255.; good store wethers, 325. 6(1.: store ewes, 18s. 9d.; light fat heifers, £5 2s. 6d.; light fat cows, £5; fat condition do.. £4 to £4 las.: store do., £3 to £3 155.: heifers. r.w.b., £4 <s. 6d.: Jersey weancr heifers, £3 to lbs., good dairy cows, £9 to £l2 10s.; others, £5 to £7 10s.; springing heifers, £b to £lO 10s.: good porkers. £2 12s. Gd. to £L 18s.- light, £2 ss. to £2 10s.; large stores, 275. Gd. to 325.: medium do., 21s. to ‘.as.; small do.. 17s. Gd. to 205.; weaaers, los. to 16s. Gd.

CLEARING SALE AT MAKOTUKU

Messrs. Wright, Stephenson and Co., Ltd. renort:—We held a very successful clearing sale at Makotuku, Wairarapa, on behalf of the Morrison estate, and we offered the dairy herd to a large attendance. Keen bidding was maintained throughmit the sale, and the herd averaged £l3. I his does not include three-quarter cows or late calvers With these included the average price works out at £ll 3s._ For such a large herd this is a very satisfactory average. Best cows elicited very keen competition. and made up to £l9. Most of the herd was purchased by local dairymen, although Waikato buyers were' represented. Springing heifers made up to £ll os., and yearling heifers, which were an exceptionally good line, made £6 ss. Pigs and sundries also made good values.

The New Zealand Loan and Mercantile Agency Co.. Ltd., report having conducted a successful sale of dairy stock on account of Mr. James Parsons, at Levin, on Saturday. There was a large attendance ol buyers- and the herd, which comprised various breeds and a number of aged cows, met witli keen competition. The results of the sale proved most satisfactory to the vendor Following are the prices:—Cows calving July. £l4 10s. to £2O: cows calving August £l5 to £18; cows calving September £l2 to £l3 10s.: cows calving October. £9'to £lO 10s.: cows calving November. £8 10s. to £11: 12 months coloured heifers £5 Is. WELLINGTON STOCK EXCHANGE YESTERDAY’S BUSINESS AND PRICES

At the morning call yesterday sales were reported of 54 per cent, stock (193 b at £lOl, aud Bank of New Zealand at GOs. At tlie afternoon call a sale of HuddartParker at 495. was made on 'Change, and tlie sales reported were 54 per cent, stock (1036) at £lOl, Bank of New Zealand D shares at 275.. Union Bank, local register, at £l5, and Melbourne Register at £l3 25., Wellington Investment at 10s. 9d., and Gear Meat at 40s. Gd. Government stocks and bonds were steady, particularly the 5J per cents., which were wanted at £lOO 15s. Wellington Gas debentures were in demand at £lOO, and New Zealand Breweries 10 per cent: bonds at 235. lOd. Bank shares were firm. There were buyers ot Australian Bank of Commerce at 335. Gd., Commercial Bank at 295. Gd. ex dividend, National of New Zealand at £7 35., National Bauk of Australasia (£5 paid) at £9 ss. 9d., Bank of New Zealand at 595. 9d., Bank of New Zealand D shares at 265. Gd.. and Union Bank, local register, at £l4 195., aud Melbourne register at £l5 ex dividend. Sellers quoted £8 Ils. for English, Scottish and Australian Bank. Financial shares were in good demand. There were bids of £8 4s. for Equitable Building, 10s. Sd. for Wellington Investment, 'Js. 4d. for Wellington Deposit, 50s. Gd. for Goldsbrough Mort, £lO6 for New Zealand Loan and Mercantile, and Bs. 9d. for New Zealand Guarantee Corporation ordinary. Gisborne Gas were wanted at 9s. Gd., and Wellington Gas at 2Ss. 10d.. ex dividend. Gear Meat were firm at 40s. 4d„ and New Zealand Refrigerating 20s. paid at 18s., and 10s. paid at Bs. Gd. Insurance shares were firm, with buyers of New Zealand Insurance at 425. 9d.. and South British Insurance at GOs. 3d. Ilud-dart-Parker were wanted at 495., P. and O. deferred stock at £234, Wellington Woollen ordinary and preference at £6 Ss. (Sd. cum. dividend. There were buyers of Hikurangi Coal preference at Bs. Gd., National Timber at 75.. British Tobacco at 425. 3d., Electrolytic Zinc preference at 335. 5d., New Zealand Drug at 695., New Zealand Paper,Mills at IGs., Sharland and Co. at 19s. Gd., Wilson’s Cement at 38s. Cd., and Mount Lyell Mining at 355. 2d. Yesterday's buying and selling quotations were as under:—

SALES IN OTHER CENTRES (By Telegraph.—Press Association.) Auckland, August 2. y.|),. s Bank of Australasia. £l4 18s.; Commercial Bank of Australia, 30s. lid.; Nalimial Bank of New Zealand. £7 4s. fid.: it.',ni- of New Zealand. 605.: Fiilon Bank of U stralia. £l5: Auckland Gas, 225. 5d.; 1 levoiport Steam Ferry, 245.: Huddart-Parl-er 495.: Gear Meat. 40s. (id.; Golden Age Gold Mining Company (paid), 2}d. Christchurch. August 2. q..](. s —llnglish. Scottish, and Australian Bank. £8 9s. Gd.; United Building. 1-,s ■ Huddart-Parker. 495. 2d.; Mnhakfmiwii. :is. Cd. (G parcels). Sales Reported.—N.Z. Government I* per cent, inscribed. 1938. £99; Commercial Bank of Australia. .!os. 9d. (2 parcels): Union Bank. *215 (2 parrels); Goldsbrough Mnri 51s : Chrislehureh Gas (rum divi dPiid) ‘-Ms. <»<!.: Breweries. 455. (3 par eels), *4ss. «’l<k C- pareels): Waihi. 12s. Sd Dunedin. August 2. q..i c —Wright, Stephenson, pref., IGs. 3d s s'ilcs Reported.—Milburn Lime, 325. 9d.. contributing Us. (prom.). CUSTOMS REVENUE. The Customs revenue collected at the ' port of Wellington yesterday totalled £7330.

BANKRUPTCY PROCEEDINGS PETITIONS FILED A petition in bankruptcy has been filed with the Official Assignee by Edward Thomas Bills, a farm iabourer, of I’araparaumu. , ~ , , A petition has also been filed by Luey Woo, a fruiterer, of Wellington. Liabilities are set down at £2219 Gs. 2d., and assets nil. The principal creditors are Chinese fruiterers of Wellington. Edwin Hyde, of Belvedere. Carterton, has been adjudged a bankrupt on his owu petition—Special Service. WELLINGTON WOOLLEN For some weeks past the shares of the Wellington Woollen Company have been in very strong demand, and the reason for it is now apparent, for the company lias enjoyed a prosperous period, as the balancesheet for the year ended June 30 last, which was circulated yesterday, shows. The net profit for tlie year, after allowing ,£5OOO for depreciation, amounted to £33.20(1, as compared with £29,487 in the previous vear. There was brought forward £llB2, making available £34,388. Out of (his £2OOO is added to the reserve fund. The interim dividend absorbed £14,914, and a further dividend m/w proposed will absorb £15.000. which makes the year’s dividend equal to 10 per cent. The directors state that the result is gratifying, as the year was a, difficult and most unusual one. The high wool values of the season 1926-27 further advanced in 1927-28, to figures quite unexpected, whilst a general depression in business throughout the Dominion made sales difficult, as wholesale prices were keenly competitive.’’ The general reserve is shown at £54.000, and the fire insurance reserve at £lO,OOO. Bank overdraft stands at £56,700, against £44.165 a vear ago. and sundry creditors £63.737, against £69.699. The assets include buildings and plant £222.312. against £233.232; stock £21(1,154, against £201,981: and sundry debtors, £69,638, against £ 62,794. WOOL RESEARCH Mr. Arnold Frobisher, deputy director of research, and Mr. .1. A. F. Roberts are making a survey of the production and utilisation of wool, carried out by the Research Association for the woollen and worsted industries of Great Britain. The two experts named have been engaged upon au extensive tour of Europe, and, later, investigations are to be continued in the dependencies of tlie Empire. The three points which are to have particular attention are production, factors affecting the marketing of raw material, and utilisation. In a brochure dealing with the objects of the inquiry it is stated that, from a Dominion point of view, not only must the requirements of the British manufacturer be considered, but as so much wool goes to Continental countries and tc Japan, their needs have also to be taken into account. In the survey being understaken it is accepted that the cooperation of the sheepbreeders and manufacturers will be forthcoming “in order that a fundamental piece of work may be carried out which will be of benefit to both,”

AUSTRALIAN BANK OF COMMERCE The net profit of tlie Australian Bank of Commerce for the year ended June 30 last totalled £216,741. against £218.067 for the previous vear. Tlie sum brought forward was £26,663. A sum of £40,000 is carried to the reserve fund, or £lO,OOO less than in the previous year; no allocation is made to premises account, and the amount carried forward is £20,764. The dividend is maintained at 8 per cent., and on the enlarged capital requires £176,640, compared with £157,826 ill the previous year. The capital stands at £2,208.000 and the reserve fund at £1.046,880. Deposits at £ll.'018,935 show an increase of £817.421; bills in circulation amount to £1,026.935, against £1,638,190. Tim assets include coin aud bullion £7S6,SS6, against £801.191; Australian notes and cash with Commonwealth Bank £1,124,058, against £1.461,784: cash and money at call in London, £1,439,191, against £349,542; Government and municipal securities. £730,210, against £3.il._318: bills receivable in London, £2,259.246, against £3,096,712: and advances, £ll,406,259, against £11,463,056.

FOREIGN ITEMS CALCUTTA TEA SALES. (Australian Press Association.) Calcutta, August 1. At the tea sales the average prices were: Common Pekoe Souchong, 9 annas G pies to 10 annas; clean common broken Pekoe Souchong, 9 annas to 9 annas G pies; even black leaf Pekoe, 11 annas 6 pies to 12 annas. CHICAGO WHEAT QUOTATIONS. (Australian Press Assn.—United Service ) Chicago, August 1. Wheat futures: September, 1 dollar 19 3-8 cents per bushel; December, 1 dollar 23J cents. SUGAR FROM FIJI. By Telegraph.—Press Association. Suva, August 2. The Hauraki sailed to-day with a cargo of 8295 tons of sugar, a record shipment from Fiji. TIN SUPPLIES. (Australian Press Assn.—United Service.) London, August 1. Tin: Visible supply, 17,898 tons; spot. 1464 tons; afloat, 2453 tons; deliveries, 2113 tons. P. AND O. STOCK. (Australian Press Assn. —United service.) London. August 1. P. and O. deferred slock, £237 10s.

July, ponding month, Towns. Invercargill ... 1928. 1927. Dunedin 1354 1320 Timnru 7 Christchurch . 76 Blenheim .... 1 10 Well ingt on ... 50 Wanganui .... Napier 9 Gisborne 60 27 Auckland ..... 048 . 9 2196 1375 THE MONTH'S EXPORTS. Exports of wool from New Zealand during July were:— Corresponding July, month, Towns 1928. 1927. Dunedin 810 2459 (Ulina ru . 1006 897 1952 2911 Christchurch Blenheim 3815 2939 505 Wellington 3803 4939 New Plymouth, Waitara 62 Napier. Wairoa 14411 Gisborne. Tokomaru Bay 618 Auckland. Opua 514 69 2614 1474 904 15,009 21,884 TALLOW EXPORTS Exports of tallow (tons) to the United Kingdom and Continent-from New Zealand during July were as under, report Messrs. Dalgety arid Co. Corresponding Julv, month, Towns. 1928. 1927. Dunedin ...... 120 175 Oamarii Ill Timaru ......... 274 102 Christchurch ... 300 131 Blenheim ....... 32 Nelson .. Wellington 215 . 403 Wnn»*nniii 103 —. New Plymouth, Waitara 40 Napier, Wairoa 59 Gisborne, Tokomaru Bay 4o Auckland, Opua 300 107 243 120 540 1723 1993

Buyers. Sellers. N.Z. GOVT. LOANS— £ s. d. £ n. d. •H p.c. Ins. Stk., 1938 99 0 0 5J p.c. ditto, 1938 ...1 LOO 15 0 — 4* p.c. Bonds, 193S ... 98 lb 0 — 5* p.c. ditto. 1936 ... 1 LOU lo 0 DEBENTURES— Wellington Gas .... 100 0 0 —— N.Z. Breweries (bonds) 1 3 10 1 4 1 Lyttelton Harbour Bd. 4 p.c., 1929 — 99 u 0 BANKSAustralian Bank of 1 Commerce 1 13 6 14 0 Commercial of Ausc. (ord.) 1 9 6 English. Scottish, and Australian — 8 11 0 National of N.Z 7 3 0 National of Australasia (£5) 9 n. 9 — New Zealand •• 19 ji . i 0 0 Ditto, long-term morlg. 1 (J 6 Union of Aust 14 19 0 —— Ditto (Melbourne register) 15 0 0 15 4 0 FINANCIAL— Goldsbrough, Mort .. *> 10 G O 11 G Equitable Building .. 8 4 0 —. N.Z. Guarantee Corp. (ord., 8s.) 0 8 9 — N.Z. Loan and Merc. Agency (ord.) 1 .06 0 0 •— Well. Invest., T. & A. Well. Deposit & Mortg. 0 10 8 ——. 0 V 4 —■ GAS— 9 Gisborne 0 6 —• Wellington (ord.) ... 1 8 10 • INSURANCE— National —— 9 0 16 o New Zealand >— South British 3 0 o —— MEAT PRESERVING— Gear o 0 4 1 0 N.Z. Refrigeral. (£1) 0 18 0 — Ditto (10s.) 0 S 6 .—. TRANSPORT— 9 Uuddart, Parker (ord.) o 0 *> 9 G P. and O. def. stock.. 234 0 0 — WOOLLEN— Wellington (ord.) ... 6 8 6 6 12 9 Ditto (pref.) COAL— Hikurangi (pref.) .... 6 8 6 — 0 8 6 .— Westport — 1 11 0 Waipa — 0 14 6 TIMBER— National 0 7 0 0 11 0 breweries— 6 Staples and Co — 1 16 MISCELLANEOUSBritish Tobacco (Aust.), (ord.) 3 — 3 0 Burns, Philp, and Co. — — 7 0 Colonial Sugar — 59 5 0 Electrolytic Zinc (pref.) 1 13 □ 1 14 Howard Smith (ord.) — 1 8 9 N.Z. Drug 3 9 0 — N.Z. Express (ord.) .. —— 0 19 3 N.Z. Paper Mills 0 16 0 ■— Scoullar Co 1 9 and pref.) 0 19 6 — Shariand and Co. (ord. Wilson's Ccmeut .... 1 18 0 —— MINING— Mount Lyell ......... 1 15 —— Waihi Grand Junction 0 1 o —— Kawarau — 0 0 8