Farm and Commercial Section

Dominion, Volume 21, Issue 303, 22 September 1928, Page 12

Farm and Commercial Section

LATEST REPORTS from ALL CENTRES

AUCTION SALES TO-DAY. Tattcrsall's, Christchurch, 11.30 a.m.— Sale of draught horses (H. Matson and Co.) Hinemoa House, 14 Petone Avenue, 10.30 a.m. —Sale of furniture (E. Johnston and Co.) 452 Broadway, Miramar, 2 p.m.—Sale of ‘furniture (Doherty Auctioneering Ltd.) WOOL MARKET FAIR COMPETITION AT LONDON SALES (Australian Press Association.) London, September 20. At the wool sales 12,485 bales were offered, of which 5303 were Australian and 2050 New Zealand, comprising an average lot of merinos, chiefly suitable for Yorkshire, a good selection of topmaking merinos: also slips. Fair competition was in evidence at opening rates, with a better sale than yesterday and fewer withdrawals. The New Zealand offerings fetched : Whanakino, highest price 194 d., average ISJd. . The Bradford tops market is weak, and business scarce. N olni " al , quotations: 64’s, 48d.; 60's, 45-ld.: a6s, aid.; 50’s, 291 d.: 46’s. 25d.; 40’s. 24 2 d. OTHER ADVICES. Messrs. Murray. Roberts and Co.. Ltd., are in receipt of tlic following wool market quotations from their London agents, dated September 20:— . 1 Opening Close Sept. July scries, scries. (1. d. CO/G4-S (N.Z. merino) yielding -IS p.c -- -£•! ail’s yielding 60 p.c 50's yielding 65 p.c. .... -te 4-1/46's preparing yielding 74 P.c 19 44-46’s carding yielding 72 p.c T 40/44’s yielding 73 p.c. .. 17 IS>J 3(l/40’s yielding 75 p.c. — THE PRODUCE MARKETS FROZEN MEAT Messrs. Dalgety and Company have received the following report from London, dated September 20;— Lamb.—New Zealand prime Canterbury lamb 281 b to 361 b., 101<I.; North Island, 281 b. to 361 b., 10 1-Sd.; Canterbury, 361 b. to 421 b., IOJd.; North Island, 361 b. to 42111.. lOd ; Canterbury, second quality. IRd.; North Island, second quality, 9i|<l.: Canterbury 421 b. to 501 b.. 9 7-811.; North Island. 421 b. to 5011)., 9 7-Sd. Market weak, demand limited. Multon. —New Zealand prime Canterbury, 481 b. to 561 b., 7 5-Sd.: North Island, 4811). to 56tb„ 7 3-Sd.; Canterbury. 5011). to 641 b., 7 3-Sd.: North Island, 5611). to 1'411)., 71d.: Canterbury. Glib, to 721 b., 7 l-Bd.; North Island, G4lb. to 721 b., 7<1.: Canterbury ewes. 4811). Io 6411)., Gd.: North Island ewes, 4811). to Glib., Gd. Market weak, demand moderate. Beef.—New Zealand prime ox beef, hinds aid., fores 3?<i.; .Argentine chilled, hinds 71d., fores -lid. Market weaker, demand quiet. Pork. English porkers, 801 b. to lonib., 9d.; New Zealand porkers. 80lb. to 1001 b., 761.; New Zealand porkers. 1001 b. to 1201 b.,

BUTTER AND CHEESE I .ON DON QU OTAT lON S. (Australian Press Association.) London, September 20. Butter is slow; Danish easier, 1955.: New Zealand and Australian unchanged. Cheese is firm. New Zealand finest 112 s. to 1145.; Australian, 110 s. to 112 s. The New Zealand Loan and Mercantile Agencv Co.. Ltd., have received the following cablegram from their London house, under date September 19:—Butter: New Zealand choicest salted; cheese, quotations unchanged. Markets slow. Last week’s quotations to September 13 were: Butter. 18-ls. to ISGs. per cwt.; cheese, white 114 s. per cwt., coloured 112 s. Mr. G. A. Mills has received the following cabled advice from Messrs. A. .1. Mills and Co., Ltd., London, under date September 20: — . Butter. —The market is quiet. Finest New Zealand butter is quoted at 184 s. to ISGs.; first grade, 1825.: Danish butter. 1945. to 1965.: Irish butter, 178 s. to ISOs. Cheese. —The market is firm, with New Zealand white cheese at 113 s. to 1145.; New Zealand coloured cheese. 112 s. to 1135.: Canadian white cheese. 113 s. to 1145.; Canadian coloured cheese, 112 s. to 113 s. Messrs. Dalgety and Company have received the following report from London, dated September 20 (last week’s prices in parentheses) : — Butter.—Market steady but quiet. Danish, 198 s. to 200 s. (1965. to 198 s.); New Zealand finest salted, 182 s. to ISGs. 1181 s. to 186 s.): Australian finest unsalted. 182 s. to 184 s. (180 s. to 182 s.); Australian finest salted, 170 s. to 1745. (170 s. to 1745.) ; Australian G.A.Q., IGOs. to 104 s. (IGOs. to 1645.). Cheese.—Australian cheese, white. Ills, to 112 s (110 s. to Ills.); Australian cheese, coloured, 110 s. to Ills. (110 s. to Ills.); New Zealand cheese, white, 113 s. to Ills. (113 s. to 114 s.); New Zealand cheese, coloured, Ills, to 112 s. (110 s. to 112 s.); spot price for Canadian white. 112 s. to 114 s. (112 s. to 114 s.); spot price for Carnelian coloured, Ills, to 113 s. (110 s. to 112 s.); C.I.F. price for Canadian, 112 s. to 113 s. Gd. (Ills, to 1135.) Market steady, but quiet LONDON TALLOW MARKET The New Zealand Loan and Mercantile Agency. Ltd., have received Hie following cablegram from their London house, dated .September 19:—We quote present c.i.f. and e. values for the following descriptions of tallow: Fine mutton. 435. per cwt.: good beef. 435.; mixed, 40s. ()d.; mixed, market firmer. CANTERBURY POTATO MARKET By Telegraph.—Press Association. CliriHtehurcli, September 21. Since the mid-week report there has been a period of slackness in market circles, and prices for all lines except potatoes show no change. Witli regard to potatoes, however, there lias been a burdening, due to two main causes. In the first instance there is an undoubted shortage, orders living received not mily from Auckland, which is always tlic principal source, but also from outside places such as Napier and Gisborne, while Wellington bus also been looking for supplies in some instances. Over-sellers have been actively looking round for potatoes in order to cover themselves. Consequently the valm of potatoes is higher at present, than it has been for some time, while it is a fact that some districts have got rid of all that they had. tn others there is a fair quantity still to lie disposed of. Those farmers who lire holding, however, lire inclined to stick out for as high a figure as they can get. The Wingatul, which sailed earlier in tlic week for the north, took some 2000 sacks from Lyttelton, in addition to which she had on board about 180(1 sacks from Timaru. It is not expected that the Waipiata, which will probably get away on Monday, will take many potatoes with her, and only a small lot was shipped by tlic Kaitnngata, which sailed last night. The price to farmers on trucks nt country stations is £5 155., but ns mueb as £6 was paid in at least one instance this week. DUNEDIN PRODUCE ’ MARKET By Telegraph.—-Press Association. Dunedin, September 21. The market for wheat remains stationary, with millers taking up any good lines that are offering, but as is usual at this time of year, the holdings of wheat are in a small compass, and only odd pareels are coming on to the market now and again. The present price for Tuscans is ss. 9d. per bushel, sacks extra, on trucks, while Huntrrs and Velvet are selling nt Gs. and (is. GM. respectively on trucks, there lining practically none of the latter offering. The quantity of inferior wheat available lias prevented a rise in the fowl wheat market, the demand for which is quiet. Up to ss. Ild. per bushel, sacks extra, ex store, has been paid for good quailt it but there is plenty of inferior wheat selling at lower rates. Very little interest lias been shown in oats, and the consumptive demand ■ still remains very poor with no North Island buyers or millers operating. The only demand has been for heavy outs suitable for seed purposes, and although early in I lie season it looked as if very few seed oats would be sold, there has been an exceptionally strong demand during the past fortnight. This has left, merchants short of stocks, and heavy Gartons are now difficult to obtain for this purpose. The present quotations for A Gartons are 3s. lid. f. . s.i., and 3s. 51d. for B grade. An odd sale has been made of the former to forward sellers, who have had to cover in order to complete their contracts. Merchants are not very keen to buy oats, in view of the difficulty of obtaining an outlet, and values to farmers for any small lines offering are 3s. 2d. on trucks for A grade, and 2s, fid. for B grade. The chaff market is quiet, with consignments arriving very slowly. Store stocks are mostly being worked up, and for tiiese up to £5 15s. per ton, sacks extra, is obtained for best quality. Sales, ex truck, are recorded at £5 10s. per ton, sacks extra, most of the arrivals coming from the Canterbury district. Medium and poor are still slow of sale at £4 10s. to £5 per ton, sacks extra. It will not be long before new potatoes will be available in fairly plentiful quantities from the North Island. Locally, the value of freshly-picked and well-graded lines is £6 ss. per ton, sacks included. There are. however, very few of this quality available, most of the lines coming in being on the small side, and showing signs of growth. Merchants will buy these oulv when they are forced to do so. The markets in all lines of seeds remain firm, and the retail demand still continues fairly active. There has been no further movement in the markets, and at present there does not seem to be any prospect of export in any of the lines.

LIVE STOCK SALES

FEILDING Dominion Special Service. Wilding, September 21. Wilh an average yarding uf good quality material uti offer, prices lor fat sheep remained good at. to-day’s sale at Wilding, all lines selling well. Fat hoggets rang’d in value from 295. Id. to 355.. ewes from 355. Io 41s. 6d. with four-tooths up to Iss_. while wethers realised from 3Ss. to 12s. 3d. Store entries were not so eagerly sought after, but prices were quite in line with the value of offerings. Ewe hoggets sold at: from 395. 2d. to 395. Ihl., with hoggets from 335. 10d. to 345. 9d. Mixed lines brought from 295. sd. to 335. (id. for ewes, and lambs made good sales at from 41s. 3d. to 475. 9d., while forward wethers were priced at 355. Gd. In the dairy cattle pens a heavy yarding was on offer, but the quality was lacking, and values lowered accordingly. Best springing heifers made up to £lO, £ll, and £l2, with the average price about £9. Springing cows were slightly higher valued, toj> prices being from £ll ss. to £l4, with the general run from £9 to £9 15s. Store cattle sold readily, cows ranging in value from £3 17s. lid. to £6, while forward empty heifers made up to £6 lb’s. 6d. Fifteen and eighteen month Jersey heifers met with steady competition al prices ranging from £3 18s., £5 10s., to £7 25., and store three-year steers’changed hands at £8 9s. (id. Fat bullocks made the best sales of the day. up to £l9 10s. being paid for select beasts, with others at from £l3 155., £l4 17s. Bd. to £lB. Fat cows were also wanted and values remained high, ranging from £B, £lO 7s. Gd., £l2 95.. to £l5. Heifers were not of the superior quality of last week, and met a weaker demand, prices being from £G 155., £9 to £l2 10s. MARTINBOROUGII. Dalgety and Co., Ltd., report:—At the Martinborough sale we yarded a good entry of fat cattle and a few pens of hoggets. The quality of the cattle was outstanding and comprised lines of fat cows and bullocks from J. McLeod, It. McLeod, S. Campbell, A. Caselberg. and C. M. Ross. Competition was keen throughout the sale, and quite a large portion of the entry was taken by buyers from Taranaki. Following is the range of prices:— On account. It. McLeod: Fat bullocks, £lB 10s. On account J. McLeod: 13 Fat bullocks, £l4 ss. to £l6: 33 fat cows, £l3 2s. Gd. to £l4 12s. Gd.: 7 fat heifers, £l4 ss. On account A. Caselberg: 13 Fat cows, £l2 17s. Gd. On account S. Camjibell: 1 Fat bullock. £l6 155.: 16 heifers, £l3 10s.: 8 cows. £ll 12s. Gd. On account C. M. Ross: 1 Cow, £l5; 8 heifers, £11; 3 cows. £ll. Three small lots of hoggets realised 265. MiYRTON. Messrs. Abraham and Williams. Ltd., report having yarded a small entry of sheep and cattle and a good penning of pigs at the Marton sale on Tuesday, all classes of stock meeting with good competition. Quotations:—Fat eWes. 355. to 365.; ewe hqggets, 385.; empty heifers, £2 17s. Gd. to £3 155.; empty cows, to £5 17s. Gd.; springing heifers, £9; weaner pigs, Ils. Gd. to 325. LEVIN. The Now Zealand Loan and Mercantile Agency Company, Ltd., report that at the Levin yards on Tuesday they offered a small entry of sheep and a good yarding of cattle and pigs. All classes of stock met with a ready sale with the exception of store and weaner pigs. Prices were as follow:—Fat wethers. 41s. Gd.: fat ewes, 345. 9d.; fat cows. £7 to £9 7s. Gd.; forward condition ditto. £4 10s. to £5 55.; stores, £2 15s. to £3 155.; forward condition heifers, £4 10s. to £4 165.: cows close to profit. £lO to £l2; cows in milk, £6 to £7 155.; springing heifers. £8 to £11; porkers, £2 10s. to £3 7s. Gd.: light, 355. to £2 5k.; stores. 17s. to 295.: weaners. 7s. Gd. to 155.; choppers, £2 10s. to £2 12s. HORSE SALE AT LEVIN Tile New Zi'iilniiil Loan and Mercantile Agency Company, Ltd., report having hold a special horse sale at the Levin yards on Monday. Entries came forward well up Io advertised numbers, and met witli excellent, competition from a good attendanee of buyers from tlic surrounding districts. A few very nice four and five-year half and tlirec-quarter draughts offered on account of Mr. W. Kilsby, realised from £25 IDs. to £4O. Prices were as under:— Four and llve-year three-quarter draughts, £27 10s. Io £4O: five-year half draughts, £2O to £26 10s.: aged draughts. £2O 10s. to £34: aged spring carters. £8 10s. to £26 10s.: two-year three-quarter draught, £l5 10s.; hacks, £2 to £l. WELLINGTON STOCK EXCHANGE YESTERDAY’S BUSINESS AND PRICES At the morning call yesterday, sales of New Zealand Guarantee Corporation, ordinary, at 9s. Id. and Australian Iron and Steel, preference, at 20s. Bd. were made on 'Change, and a sale of 4t per cent. Government Stock (1938) at £9B 17s. Gd. was reported. At the afternoon call there was reported a sale of Queensland Insurance shares at 655. Tile demand for Government securities was confined Io the 54 per cents., which were wanted at £lOl ss. There were buyers of Wellington Gas debentures al £lOO. Wellington Racing Club at £lO6 10s. and New Zealand Breweries bonds al 245. Bank shares were steady, but these were fewer buyers. There were bids of 30s. 3d. for Commercial Bank of Australia, £8 155., for English, Scottish and Australian Bank, £7 4s. for National Bank of New Zealand, £lO 3s. Gd. for National Bank of Australasia. £lO paid, and 61s. for Bank of New Zealand. Sellers quoted £l5 7s. Gd. for Union Bank, and £9 13s. 3d. for National Bank of Australasia, £5 paid. Financial shares were ouict. New Zealand Guarantee Corporation (ordinary) were wanted at Bs. lid., and Wellington Investment at 10s. Gd. New Zealand Insurance wore in demand at 445. 9d. and Standard Insurance at 635. Gear Meat, were a shade higher at 4ts. There were buyers of Christchurch Gas at 255. Gd, Wellington Gas, ordinary, at 295. Gd., and preference, at 175., Huddart-Parker at 475. Sd. ex dividend, Kaiapoi Woollen, ordinary, at 12s. 3d. and Wellington ■ Woollen preference, at £6 13s. Westport Coal shares were steady at 30s. 3d. Kauri Timber were wanted at 18s. lid., Leyland, O’Brien at 345. Gd., New Zealand Breweries at 525. Gd., and Ward and Co. at 425. There wore buyers of C. M. Banks, ordinary, at 225. Gd D.1.C., preference, at 20s. fid., Electrolytic Zine, ordinary, at 325. 3d., preference, at 335. Gd., New Zealand Drug at 71s. 3d., New Zealand Farmers’ Fertiliser at 845., Wairarapa Farmers’, preference, at 11s. Gd., Wellington Queen's Theatre at 225. fid., ■Wilson's Cement at 38s. 10d., Australian Iron and Steel, preference, at 20s. 7d., and Mount Lyell at 355. The Stock Exchange will be closed on Monday. Yesterday’s buying and selling quotations were as under: — Buyers. Sellers. N.Z. GOVT. LOANS— £s. d. £ s. d. 54 p.c. Ins. Stk., 1933 . — 101 f 0 54 p.c. ditto, 1936 ... 101. 5 0 — 51 p.c. Bonds, 1933 ..101 5 0 — 54 p.c. ditto, 1936 .... 101 5 0 —

SALES IN OTHER CENTRES By Telegraph.—Press Association. Auckland. September 21. Sales. —Commercial Bank of Australia, 30s. 5d.; English. Scottish and Australian Bank, £8 165.; National Bank of New Zealand. £7 55.; New Zealand Insurance, 455.; Queensland Insurance, 655. 3d.: South British Insurance, 625. 9d.; Renown Collieries, 135.: Renown Collieries, prefo 2s. Gd.: Huddart-Parker. 48s. 3d.; New Zea; laud Breweries shares, 525. Gd.: T»iranaki Oil, Bs. Gd.: Whittome Stevenson, 485.; Waihi, 12s. lOd. Christchurch, September 21. Sales.—Heathcote County, 4| per cent. 1929. £99: Standard Insurance, 655. 6d.; Commercial Bank of Australia, 30s. nd.; Bank of New South Wales. £ol us.; National Mortgage, 83s. 3d.; Staples Brewery. 38s. 7d., 38s. 6<1.; New Zealand Breweries, 535. 4d.. 535. 5d.; Tooth s Brewery. 475. Gd.; Victoria Nyanza Sugar (cum div.), 455. . , „ , Sales Reported.—Commercial Bank or Australia. 30s. (id.: English. Scottish and Australian Bank, £S 165.; National Bank of New Zealand. £7 4s. Gd.; New Zealand Breweries, 525. 9(1. Dunedin, September -I. Sales Reported—New Zealand Breweries, debentures, 245. 3d.; Now Zealand Refrigerating, paid, 195.; British Tobacco, 445. cum div. COMPANY ACTIVITIES BARNETT GLASS RUBBER The net. profit of £104.938 shown by the Barnet Class Rubber Company tor the twelve months ended June 30 is £‘-5,(3«> lower than the record surplus of LloU.mi earned for 1926-27. The gross profit for the vear was £374,704. as against £061,4uU in the previous year. Payment ol 10 per coni to both ordinary. and preference shareholders this year takes (’»> per cent, of the profit available, compared with 3J.8 per cent, required last year, .the sum oi. £50.000 is transfered to the reserve fund, reducing the carry forward by £13.--'l to £-’-’7°l The. present total of visible leserv'es is £124,463, and after allowing for goodwill and for final payments to be made on new issue shares, the total surplus of assets over outside liabilities is Aaol.9(13 The most important movements in balance-sheet figures are the increase of £15,009 in bank overdratt. and of £07,,)00 in money bold on deposit, a substantial increase in land and buildings ot over £47.000. and of £70.000 in plant and machinery. On the other hand, bills payable and’sundry creditors at £61,754, are £lOO,OOO lower than a year ago. CUSTOMS REVENUE. Tile Customs revenue collected at the port of Wellington yesterday totalled £5209. FOREIGN ITEMS EXCHANGE RATES. (Australian Press Assn.—United Service.) London, September 20. Foreign rates of exchange - on September 20. as compared with par rates, or as averaged first half of 1914, are as

PRICES OF METALS. (Australian Press Association.) (Roe. September 21, 5.20 p.m.) London. September 21. Copper—Staudard, spot, £64 Is. IOJd. per tou, forward delivery, £64 13s. fid.; electrolytic, £7O ss. and £7O 15s. Lead —£22 2s. (id. to £2l 10s. 3<i. Spelter.—£24 7s. 6d. aud £24 10s. Tin.—£2l6 17s. 6d. and £213 10s. Silver—Standard, 26id. per ounce; flue, 28 5-16 d.

DEBENTURES— Wellington Gas .... 100 0 0 Well. Racing Club .. 10U 10 0 N.Z. Breweries (stock) — 1 4 (I Ditto (bonds) 1 •1 0 Buller County, 5 p.c.» 93 1940 15 0 BANKSCommercial ot Aust. (ord.) 1 10 o 1 10 9 English, Scottish, and Australian 8 15 0 —— National of N.Z 7 4 0 —• National of Australasia (.CIO) : 19 • » (, — Ditto (£5) — 9 13 New Zealand 3 1 0 1 6 Union ol Aust — 15 7 FINANCIAL— N.Z. Guarantee Corp. lord.. 8s.) 0 s 11 0 9 Well. Investment, T. and A. Co 0 10 0 — Auckland (cotdrib.) .. — 0 IS 0 Christchurch 1 ■ ) 6 ——- Wellington (ord.) ... 1 9 (i —— Ditto (pref.) 0 17 0 — INSURANCE— National — 0 16 6 New Zealand 4 9 —— Queensland South British — 3 0 6 Standard o 3 0 — MEAT PRESERVING— Gear ■ ’ 1 0 — TRANSPORT— s Huddart-Parker (ord.) 7 — WOOLLEN— Kaiapoi (ord.) 0 12 0 Io 0 Wellington (pref.) ... It 13 o — COAL— 10 14 Westport Wai pa 1 10 u 0 10 0 Kaifangata (disc.) .. — 0 3 TIMBER— IS Kauri 0 9 — Levland-O’Bricn .... 1 14 —— ■ National — () 11 11 BREWERIES— 14 New Zealand 12 b 0* Ward and Co 0 —— Sunshine — 0 lo u MISCELLANEOUS— C. M. Banks (ord.) . 1 • • — British Tobacco (Aust.) (ord.) 9 — Burns. Philp, and Co. — o G Dental and Medical Sppply —■ 0 14 0 Dominion Investments 1 — 6 — D.I.C. (ord.) — 0 11 0 Ditto (pret.) 1 0 9 Electrolytic Zinc (ord.) 1 12 «> 1 12 9 Ditto (prof.) N.Z. Drug Co 1 13 11 ’» 3 12 3 N.Z. Farmers Fortiliser 4 4 0 — \\ airarapa I* armors’ G (pref.) 0 11. 6 0 12 Well. Queen s Theatre 1 9 .— Wilson’s Cement .1 IS 10 1 19 0 Australian Iron and Steel (pref.) 1 0 — MINING— Mount Lyell 1 15 0 —

f ° U0W: ~ • Sept. 20. Sept. 17. 34.90 Par. 35 Brussels, belgas to £ 1 34.91 Paris, francs to £ 1 124.15 124.20 124.21 Stockholm, knr. to £1 18.14 18.13 18.159 Oslo. knr. to £ L 18.20 18.19 18.159 Copenhagen, knr. to £ 1 18.20 18.19 18.159 Berlin, reichs20.35 20.36 20.43 liome. lire to £1 92.78 92.83 Calcutta, pence to 18 IS 18 Yokohama, pence to yen 22$ 2211-16 24.58 Hong-Kong, pence to dollar 24| 245 21 Montreal, dollars to £1 4.85 4.84J 4.866 New York, dollars to £1 .. 1.85 1-32 4.85 3-32 4.SG6 Amsterdam, tlonns to £1 12.09.1 12.095 12.107 Batavia, llorius to 4*1 12.10} 12.10} .12.107 Prague, knr. to £1 1632 163§ 24.02