Farm and Commercial Section

Dominion, Volume 21, Issue 289, 6 September 1928, Page 14

Farm and Commercial Section

LATEST REPORTS from ALL CENT RES

AUCTION SALES TO-DAY. AVaikanae Sale. 227 Cuba Street. 10.30 a.m. —Sale drapery (Silverstone and Co.). 11l Austin Street—Sale furniture (C. AV. Price and Co.). TO-MORROW. S AVilleston Street. 1.30 p.m— Sale furs (E. Johnston and Co.). 59 Coromandel Street, 10.30 a.m. —Sale furniture (Silverstone and Co.). THE PRODUCE MARKETS SHIPMENT OF LAMB FROM AUSTRALIA The New Zealand Meat Producers’ Board has just received a cablegram from its representative in Australia advising that 12.474 carcasses of lamb were exported from Australia for the fortnight ended August 31. AUCKLAND MARKET REPORT Dominion Special Service. Auckland, September 4. As was anticipated, the local potato market has eased under the pressure‘of heavy supplies from the south. However, a substantial proportion of the latest arrivals have not obtained the grader’s certificate, and in consequence graded lots

have held their value better than was expected. Onions are unaltered, but the position may become difficult about November. Oats are weak, and the same applies to chaff. There is no change m wheat. Maize is weak, as supplies are plentiful. Bran and . pollard are plentiful. Wholesale current prices are as follow:— Sharps and bra'ii: Mill prices, sharps £9 Ids. per ton, bran £8 per ton; merchants’ quotations, ex store, pollard .£lO os., bran £8 10s. Oats, feed B Gartons 4s. 7(1., A Gartons 4s. lid. per bushel; clipped Duns os. 9d., dipped Gartons as. (Id.; seed Algerians 6s. Fowl wheat, 7s. 6d. per bushel; maize, new season's 6s. Cd. ex store, Gisborne 6s. Bd.; barley, feed ss. 9d. per bushel, Cape barley, seed 6s. 6d. per bushel: maizemeal. Its. per 1001 b.; barley meal, 13s. per 1001 b.; chaff, good bright oaten sheaf, £9 ss. per ton for Blenheim or Canterbury; potatoes, Canterbury £8 15s. per ton; seed lines. Arran Chief, Northern Star, and Gamekeeper, Bs. per cwt. early Puritan 95.; onions, Japanese 17s. (id. per erate, Californian 18s. 6d. per crate. LIVE STOCK SALES > ADDINGTON By Telegranh,—Press Association. Christchurch, September 5. The yarding of fat cattle was smaller than the week before and the market was slightly irregular. Prices, except for very prime handy weights, were Inelined to show a little weakening. A much smaller yarding of fat sheep saw an advance in both ewes and wethers, the latter forming the larger part of tho offerings. In the store sheep section hoggets and ewes were in good demand, but the former (lid not sell up to the advanced rates of the week before. The entry of store sheep was one of the smallest this year. The range of prices was as follows:—!, 6, and 8-tooth halfbred ewes 31s. to 365.' 6d., 4, 6. and 8-tooth crossbred ewes 295. to 31s. 6d„ sound and failing mouth ewes 255. to 265., three-quar-ter-bred ewe hoggets 295. 6d. to 365. (id., medium baltbred ewe hoggets 255. to 275., crossbred ewe hoggets to 305., wether hoggets 245. 6d. to 308. 6d. Spring Lambs.—Twenty-five spring lambs were penned, the largest offering of the season. A very prime lot of five made 40s. 3d. to 41s. 9d., others 30s. lOd. to 395. 6d.. and a few small ones failed to sell. The yarding of fat sheep was smaller than the average. The quality was fair to good throughout. The first shorn sheep of the season were penned. Prime sheep, both wethers and-ewes, sold better by Is. to 2s. per head than the week before, and light sheep were up about Is. per head. The range of prices was as follows:—Extra prime wethers to 515., prime heavy wethers 425. 6d. to 475. 6(1., prime medium wethers 38s. to 425.. medium wethers 335. to 375. 6d., shorn wethers 275. lOd. to 335. 4d.; extra prime ewes to 435. 7d., prime ewes 355. to 395. 6d., medium ewes 28s. 6d. .to 33d., aged ewes 255. to 28s. The yarding of fat cattle totalled 484. Outside consignments were well represented by some very prime lines from the North Island, mostly Hereford, and the West Coast sent over some seventeen truck loads. Steers formed the largest proportion of the entry, ranging in quality from very prime heavy-weights down to rough and unfinished sorts. For extra prime bandy-weight steers and heifers values were from 475. Gd. to 50s. per 1001 b. Average prime steer beef 425. to 445., medium 38s. to 4,'5., plain heavy steer 325. to 375., prime cow and heifer 41s. to 435., medium 355. to 385,; down to 30s. A line of 30 steers from Wanganui made £2O to £2l 2s. 6d. The range of prices was as follows:—Extra prime steers £2O to £23 2s. od., prime steers £l7 Io £lO 10s., medium-weight, steers £l5 2s. (id. to £l6 155., ordinary steers £l2 2s. (id. to £l4 155.; extra prime heifers to £l7 2s. 6d., prime heifers £l2 to £l4 2s. (Id., ordinary heifers £9 to £ll 155., lighter heifers £5 2s. (id. to £6 155.; extra prime cows to £l7 2s. 6d.. prime cows £ll ss. to £l4. medium cows £8 ss. to £ll. others £6 to £7 ss. A fairly large yarding of vealers was composed chiefly ■of yearlings and over. There was a good sale at late rates for those tit for butchers’ purposes. Twelve to eighteen months sold to £8 16s. 6d.. good vealers £6 to £B, medium vealers £3 ss. to £5 10s., small calves 20s. to £2 10s. A small pen of two-year-old steers and a few cows and bulls made up a very small yarding of store cattle. No quotations can be based on the business done. A mixed entry of 78 head of dairy cows met with a good sale for the better sorts. Best second and third culvers made £9 to £ll ss„ medium sorts £7 to £6 155., inferior and backward £4 10s. to £6 155., best heifers £7 to £9, others £4 10s. to £6 10s. In a medium entry of fat pigs, bnconers were in better demand and porkers were firm at late rates. Choppers made £2 10s. to £6 17s. 6d., light baconers £3 ss. to £4, heavy baconers £4 7s. to £5, extra heavy baconers to £5 19s. 6d. (average price per lb. 6d. to 7d.), light porkers 365. to 475., heavy porkers 50s. to 595. 6d. (average price per lb 7d. to Bd.). In the store pig section there was a fairly large entry and prices were on par with late rates. Weaners made Ils. to 15s. 6d., extra good to 175., small stores 17s. to 225., medium 235. io 275., good stores 28s. to 32., extra to 40s. JOHNSONVILLE Messrs. Wright, Stephenson and Co., Ltd., and xAbrnham and Williams Ltd., report on the Johnsonville sale held yesterday as follows: — “There was a small attendance of butchers, to whom we submitted a small yarding of sheep and cattle. The bullocks offered were mostlj' light and prices ■were easier than last week’s rates. Heavy cows met a good demand at late rates. Sheep sold freely. We quote: Bullocks, £l3 10s., £l3 155., £l4, £l4 10s„ £l4 17s. Gd, to £l5; cows, £ll 155., £l3 17s. Gd. to £l4; cows (light), £5, £6, £6 15s. to £6 17s. Gd.; wethers, 425. Gd., 435., 4Gs Gd., 475. to 515.; ewes, 345., 345. 9d„ 395. Id., 395. 3d. to 395. Gd.” MASTERTON. Dominion Special Service, Masterton, September 5. Messrs. Dalgety and Company, Ltd., report as follows: —We held a most successful cattle sale in the Columba Road yards, Masterton, to-day, when there were buyers present from Manawatu, Taranaki, Wanganui, Hawke’s Bay, and the whole of the Wairarapa. We submitted a yarding of over 500 head of cattle, which were all well bred and camo forward in good condition. They were very favourably commented on by tho buyers present. After keen competition the whole of the yarding was disposed of, some of the prices realised being as follow: —On account E. Creswick: 22 P.A. 4-year bullocks, £ll 125.. On account Glendonald Estate: 23 Hereford cows, r.w.b., £7 Gs.; 17 do., £7 45.; 13 weaner steers, £6 Is.; 17 weaner heifers, £4 IGs.. On account Manawa Station: 15 2-year steers, £8 155.; 15 do., £8 IGs.; 39 3-ycar steers, £9 9s. : 10 empty cows, £7 ISs. On account Waringi Station : 14 fat heifers, £l3 155.; 12 empty 2-year heifers, £7 75.; 73 yearling Hereford steers, £6 19.; IS yearling heifers. £4 175.; 40 empty Hereford cows, £7 IGs. On account Sulphur Wells: 3 fat bullocks, £l5 55.; 5 do., £l2 15s. On account Baku Bros.: 14 steer, £8 145.; 12 cows, £G 19s. A FORTUNATE OPPORTUNITY FOR INVESTORS. The chance to purchase shares in an established and profitable concern occurs so rarely that investors will be quick to take advantage of the increase of capital to £60,000 by Frozen Products. Ltd. Here is a business already on a firm footing, known all over Wellington for the high quality of its frozen delicacies; and growing so fast that its present quarters have become too small to hold it. Last year Wellington consumed 420.000 Eskimo Pies, and over 60,000 gallons of ice cream, and the coming summer promises to set a new record. This clearly illustrates the need of a bigger and more modern factory if the company is to cope with the increase of business. Of the offer of 25.090 shares made to the public a few days ago, less than 15.000 are now available. Intending investors should therefore make early application to avoid disappointment. White for Prospectus of Frozen Products. Ltd., to Eric Lawson, share-. broker. A.P.A. Building. 17 Grey Street, or to any other member of the Wellington Stock Exchange.—AdvL

BULLS. Messrs. Dalgety and Co., Ltd., report having had a small entry of sheep, cattle, and pigs at their Bulls sale on Monday. Ouotations:—Small b.f. hoggets, 255. Id. ; fair wether hoggets, 28s. lOd.; dairy heifers, £7 to £8 55.; weaner pigs, 225. to 245.; slips. 295.; stores, 325. WOODVILLE. Messrs Wright, Stevenson and Co., Ltd , report having yarded a medium entry of hoggets, and a good entry of dairy and store cattle for the Woodville sale, on Monday. A good penning of pigs also came forward, and sold well at late rates. Quotations: Wether hoggets, 295. to 305.; ewe hoggets, inferior, 28s. 4d.; fat hoggets, 30s. 3d.; springing heifers, £5 2s. Gd.; heifers in milk, to £8 55.; springing cows, £6 10s.; cows in milk, to £lO 55.; store cows, £4 to £5; weaner pigs, 12s. to 205.; slips, 13s. to 275. LOWER HUTT CLEARING SALE. Messrs. Wright, Stephenson and Co., Ltd. (stock department), Wellington, report having held on Tuesday a successful clearing sale of horses and contractors’ plant on account of Mr. Francis Twoomey, Lower Hutt. There was a good attendance of local and outside buyers, and the demand for lighter horses was quite keen. Quotations: Mare, 6yrs., £3o: gelding, 7yrs., £33 10s.; mare, Oyrs., £2o 10s.; gelding, 7yrs, £23 10s.; gelding. Byrs £lB 10s.; aged geldings, ill. £l6, £l6 10s • aged mares. £8 10s., £lo; block drays, £lO, £l2 10s., £l5; seoops, £o. Harness and sundries were sold at prices in favour of purchasers. THE ROYAL SHOW On October 6 the live stock entries for the Royal Show, which is to be held this vear at Palmerston North, will close with the secretary, Mr. W. T. Penny, and the school entries must be in by September 2° while cooking, needlework and photography entries have to be lodged by October °9 Keen competition is expected in everv class from all parts of the Dominion. A schedule for the show, which will be held on October 30 and 31, and November 1, may be had from the secretary, whose address is advertised. WELLINGTON STOCK EXCHANGE YESTERDAY’S BUSINESS AND PRICES At the afternoon call yesterday sales were reported of National Bank of Australasia (£5 paid) at £9 Bs. 9d., Auckland Gas' at 235. sd„ and Westport Coal at 30s. 71d. • .... Government securities were very dull and only the 5i per cent, bonds were in demand, at £lOl ss. Wanganui City, 53 per cents. (1945) were wanted at par, and Wellington Gas (debentures) were also in demand at par. The demand for bank shares revived, and there were buyers of Australian Bank of Commerce at 335. 9d., Commercial Bank at 30s (id.. Commercial Bank of Sydney at £27, National Bank of Australasia, £lO paid at £lB 19s. and £5 paid at £9 Bs. 6d„ and Bank of New South Wales at £5O ss. There were sellers of Bank or Australasia at £l5 Is., National Bank of New Zealand at £7 4s. and Bank of New Zealand at 625. Gohlsbrough Mort were firm at Ms., and National Mortgage nt 80s. New Zealand Guarantee Corporation (preference) were wanted at 215., Wellington Trust and Loan at £6 17s Cd., Wellington Deposit at 9s. 9d., Auckland Gas at 235. ad., Gisborne Gas at 9s. 6(1., Wellington Gas at 295. 3d., and Standard Insurance at were in good demand, the ordinary at 48s. 9d. and the preference at 21s. 3d. Wellington Woollen were also firm, the ordinary at £6 9s. and the preference at £6 10s., an advance of Is. in each case. There were buyers of Kauri Timber at 19s 6d.. Ley-land-O’Brien Timber at 345. 3d. (an advance of Is.), National Timber at <s. 6(1., New Zealand Breweries at 48s. 6d., Colonia! Sugar at £6l 10s British Tobacco at 435. 3d., Howard Smith at 265. 3d.,

New Zealand Drug at 715., New Zealand Farmers’ Fertiliser at S4s„ Wilsons Cement at 3Ss. 6d„ and Mount Lyell Mining at 335. 96. Yesterday’s buying and selling quota-

COMPANY ACTIVITIES ELECTROLYTIC ZINC The production statement of the Electrolytic Zinc Co. of Australasia shows that for the four weeks ended August 22, the zine produced totalled 3773 tons as compared with 3749 tons in the preceding four weeks. The production of lead amounted to 512 tons, against 520 tons, and of silver £62.000 ounces, or 1090 ounces more than in the preceding term. MILBURN LIME AND CEMENT Dominion Special Service. Dunedin, September 5. The annual report of the directors of the Milburn Lime and Cement Co., Ltd., states that the profit and loss account, after depreciation, has been written off and provision made for the payment of income tax. shows a credit balance of £22.270 15s. 3d., including £3106. 4s. 3d. carried forward. An interim dividend at the rate of 7| per cent, per annum, amounting to £6190 7s. 10d., left a balance of £16,080 7s. sd. to be dealt with.

The directors recommended the following appropriation of this balance:- —Addition to employees Provident Fund, £500; payment to the company's Sick and Accident Benefit Society, £250; addition to Accident Insurance Fund, £1000; paymetn of dividend on fully paid shares at 7 J per cent, per antim, £4BSG 55.; payment of bonus of 21 per cent, on fully paid shares, £3257 10s.; payment of dividend of 7-J per cent, per annum and of bonus of *24 per cent, on contributing shares. £3194 Ils. Sd.; balance to be carried forward, £2992 os. 9(1. MILNE AND CHOYCE, LTD. Dominion Special Service. Auckland, September 4. Increased turnover and increased profits after making liberal provision for staff bonuses are the chief features of the annual report and balance-sheet issued by Messrs. Milne and Choyne, Ltd., for the year ending July 31. The directors' report says: “Notwithstanding.a somewhat difficult period the volume of turnover exceeds that of last year. Whilst there is again a reduction in overhead expenses, stocks show a considerable decrease. Gross profits for (lie year were £152.7i1), and net profits £23,901; expenses, £128,878; carried forward to next year's account, £34,768.” CUSTOMS REVENUE. The Customs revenue collected at the port of Wellington yesterday totalled £14,014. FOREIGN ITEMS EXCHANGE RATES. (Australian Press Assn.—United Service.) London, September 3. Foreign rates of exchange on September 3, as compared witli par rates, oi as averaged first half of 1914, are at

P AND O. STOCK. (Australian Press Assn.--United Service.) (Rec. September 5, 5.5 p.m.) London, September 4. P. and O. deferred stock, £249. REDUCTION OF CAPITAL. (Australian Press Assn.—United Service.) (Rec. September 5, 5.5 p.m.) London, September 5. The Chancery Court at Manchester confirmed the reduction of the capital of Winkworth Consolidated Mills, Ltd., Bolton, from £7,000,000 to £4,000,000. ENGLISH WHEAT MARKETS. (Australian Press Assn.-United Service.) London, September 4. Wheat. —Cargoes dull, quotations unchanged, tone easier. Parcels, inactive, about late rates. Liverpool futures: October, Bs. 11s. 1-Sd. per cental; December, 9s. Old.; March, 9s. 2d. CHICAGO WHEAT QUOTATIONS. (Rec. September 5, 5.5 p.m.) Chicago, September 4. Wheat futures: September, 1 dol. 10 cents per bushel: Daeember, 1 dol. 15 cents; March. 1 dol. 19 5-8 cents; May, 1 dol. 1 81 7-8 cents.

MEAT TRADE CUSTOM Evidence as to custom in the Smithfield meat trade was given at the hearing of an action brought by the Westminster Bank in the King's Bench Division against the Banca Nazionale Di Credito of Milan (Italy), the Union Cold Storage Company; and Lloyd's Bank, claiming £74,939 in respect of. drafts accepted by plaintiffs. A credit was opened by the Westminster Bank on the instructions of Banca Nazionale acting for a customer who had purchased from the Union Cold Storage Company a cargo of beef shipped on the Admiral Codrington from Brazil to Naples. A letter of indemnity signed by the Union Cold Storage Company and Lloyd’s Bank was given to plaintiffs at their request. Mr. S. V. Nevanas, a meat importer, iu giving evidence, said that the words “wet and soft” on the claused bill of lading referred to ordinary shipping damage, but the word “misshapen” was serious, because it indicated that the meat had become soft and had been refrozen. The bills of lading in question were usual in the meat trade In the sense that they could not be rejected under contracts, but the buyer would ask the seller for an indemnity. Judgment was given for the plaintiff against the defendants, who gave the indemnity, that is. against the Union Cold Storage Company and Lloyds Bank. THE “CONVIVIAL” EVENING. TAKE "MARSHALL’S” NEXT MORNING. After the night out —rich foods, conHviul drinks, and all that sort of thing —you need Marshall’s Fospherine. Your nerves have been over-stimulated. Feed them with the phosphorus which this wonderful nerve-food contains? A wonderful restorative for the “morning after” feeling. Highly concentrated. and quick in action. All chemists and stores sell the sixsided carton—loo doses—for 2s. Gd. Smaller sizes Is. 6d. and Is., or write direct to Proprietors, A. and W. Baxter, of Baxter’s Lung Preserver, Christchurch. —Advt.

Hons were as under:— Buyers Sellers. N.Z. GOV9. LOA NS- £ s. d. £ s. d. 41 p.c. Ins. Stk.. 1939 99 7 6 4A p.c. ditto, 1938 ... 99 7 G 4A p.c. Bonds, 1938 .. yy 7 o 51 p.c. ditto, 1933 and 101 .J 0 debenturesWellington Gas 190 0 0 — Wanganui City, 5[ p.c., BANKS15 1 0 Australian Bank of Commerce 1 3 9 *—• Commercial of Aust. .0 6 Commercial Bank! ng Co. of Sydney 2< 0 0 National of N.Z 7 4 0 National of Australasia ( £ 15) 18 19 0 — Ditto (£5) 9 8 6 ' — New South Wales .... 50 < > 0 New Zealand — 3 2 0 FINANCIALGoldsbrougli Mort ... 2 11 0 — National Mortgage .. 4 0 0 — N.Z. Guarantee Corp. (ord., 8s.) 0 9 1 Ditto (pref.) 1 1 0 — Well. Trust and Loan G 17 6 — Well. Deposit* Mortg. 0 9 9 —— GASAuckland (paid) .... 1 3 5 Ditto (contrib.) — 0 18 1 Christchurch (contrib.) 0 12 10 9 0 — Wellington (ord.) ... 1 9 3 — INSURANCE- —— 0 16 6 Queensland n — 3* 5 6 6 —■* MEAT PRESERVING— N.Z. Refrigerating (£1) —• 0 19 6 Ditto (10s ) , ■ 0 _9 6 TRANSPORT-Huddart-Parkcr (ord.) 2 8 9 — Ditto (pref.) 1 1 o Union Steam (pref.).. — 110 WOOLLENKaiapoi (ord.) — 0 13 9 Ditto (contrib.) 0 4 0 — Wellington (ord.) .... <i 9 0 —• Ditto (pref.) 6 10 0 ’—■ COALTaupiri (ord.) — 18 0 Westport — 1 11. 0 Wai pa .... .. ■. 0 14 0 TIMBER— f 19 6 ■i. ■ Leyland-O’Brien .... 1 11 3 — » National 0 7 6 0 10 0 BREWERIES— 8 6 — — 2 0 6 MISCELLANEOUS— Colonial Sugar G1 10 0 — British Tobacco (Aust.), (ord.) - 3 3 2 3 6 Howard Smith (ord.). 1 6 3 — N.Z Drug Co 3 11 0 N.Z. Express Co. (ord.) —— 0 18 6 N.Z. Farmers’ Fer4 0 — Wellington Cordage . 0 17 G Wilson’s Cement .... 1 18 6 1 19 6 MININGMount Lyell ......... 1 13 9 —

follow: — Sept. 3. Aug. 30. Par. Brussels, belgas to 34.97 35 £1 34.90 Paris, francs to 124.21 £1 124.28 124.28 Stockholm, knr. is.is. 18.12 to £1 18.13 Oslo, kur. to £1 18.19 18.19 ' 18.12 Copenhagen, knr. to £1 18.19 18.19 18.12 Berlin, reichs20.37 20.43 marks to £1 .. 20.36 Rome, lire to £1 92.67 92.63 25.225 Calcutta, pence to rupee 18 18 Yokohama, pence 22 11-16 24 to yen 22| Hong-Kong, pence 24 7-16 24 7-16 24 to dollar Montreal dollars 4.866 to £1 4.851 4.84 13-16 New York, dol4.S66 lars to £ 1 ,. 4.85 1-16 4.85 5-16 12.105 12.107 to £1 12.101 Batavia, florins to £1 Prague, knr. to £1 12.121 163‘J 12.11* 12.107 16311-16 24.02