Farm and Commercial Section

Dominion, Volume 22, Issue 12, 9 October 1928, Page 14

Farm and Commercial Section

LATEST REPORTS from ALL CENTRES

AUCTION SALES

TO-DAY. Dannevirkc, 10.30 a.m.—Pedigree cattle sale (Aberdeen Angus Cattle Breeders’ Association.) Dominion Farmers’ Institute, 2.30 p.m. — Sale of property (Longmore and Co.) Masterton Yards, 12 noon. —Sale cattle (Levin and Co.) 155 Riddiford Street. —Sale of fittings, 10.30 a.m. (E. Johnston and Co.) 51 Grant Road, 1.30 p.m.—Sale of furniture (S. Geo. Nathan and Co.) 12 Willis Street, 1.30 p.m.—Sale of pianos (E. Johnston an:l Co.) TO-MORROW. 12 Manners Street, 2.30 p.m.—Sale of property, Adelaide Road (Doherty Auctioneering, Ltd.) Dominion Farmers’ Institute, 2.30 p.m.— Sale of property, Miramar (Longmore and Co.) Dominion Farmers’ Institute. —Sale of property, Scatoun, 2.30 p.m. (Longmore and Co.) I-lawera pedigree bull fair. Johnsonville sale, 1 p.m.

MEAT FOR UNITED STATES

NEW ZEALAND’S EXPORTS

Commenting upon the statement by the secretary of the British Manufacturers’ Association, of New Zealand regarding New Zealand meat exports to the United States (published last Friday), the American Consul in charge at Wellington remarked yesterday that it was to be regretted that the secretary of the British Manufacturers' Association did not carry his observations regarding the increase in New Zealand meat exports to the United .States beyond the calendar year 1927. “Mr. Sutton’s figures for 1927 (£18,952) evidently covered only exportations to the Continental United States, but declared exports of New Zealand meat to the United States and possessions actually totalled 3,342,3681 b., valued at 263.091 dollars (£54,093),” said the Consul. “Furthermore, had Mr. Sutton reviewed the meat export figures for the first six months of 1928, he would have been in a better position to appreciate the extent to which the meat export trade to the United States has been stimulated. During these six mouths alone, 12,280,1301 b., valued at 1,029,822 dollars (£211.898), or 766,731 dollars (£157,764) in excess of the entire 1927 exportations, left New Zealand for the United States and possessions. Of this amount, 10,954,9401 b., valued at 904,503 dollars (£186,112) went to the Continental United States. Assuming that this rate of increase be maintained, New Zealand’s 1928 meat exports to the United States and possessions would total seven times what they were in 1927, and meat exports to Continental United States alone would be something like twenty-five times greater than ; the 1927 figures. These striking 1928 figures would seem to provide a somewhat better basis for comprehension of the fillip given to New Zealand’s meat export to the United States than do the slightly irrelevant figures of Mr. Sutton, which do not cover the recent and active period of export activity in this line.” THE PRODUCE MARKETS HIGH COMMISSIONER'S CABLED REPORT The Department of Agriculture has received the following cablegram, dated October 6, from the High Commissioner for New Zealand, London: — Tallow. Market firm and strong demand at auction at higher prices. Present spot quotations are:—Mutton: Fine, 445. Cd. per cwt.; fair to good, 435. to 445.; dark to dull, 40d. 6d. to 41s. Cd. Beef: Sweet and/or mixed, 445. to 475. 9d.; fair to good, 41s. Cd. to 445.; dark to dull, 395. to 41s. Mixed: Fair to good, -Ils. to 435.; dark to dull, 395. to 40s. 3d.; gut, etc., 38s. to 41s. Hemp.

Manila market quiet, but closes more steady. Value of “J” grade tor Octobcr/December shipment £32 10s. Sisal market slow with small demand. Business reported at £35 ss. for No. 1 and £34 for No. 2, October/December shipment; Closes firmer, sellers asking 10s. more.

New Zealand: Market easier. Small business done in ( high points at £3l 10s.; fair, £2B. Nominal closing values: High points, £3l 10s.; fair, £2B; common, £27. Tow: Second grade, £2O; third grade, £l7, Octobcr/December shipments. Wool.

Sales closed Thursday. Good representative attendance throughout, but competition hesitating and withdrawals heavy. Little more support from Continent during this week for merino and fine crossbred. On account of comparative scarcity, halfbreds showed least decline. Compared with closing rates of last series, merino generally 10 per cent, to 15 per cent., inferior 15 per cent, to 20 per cent., crossbred fine 7} per cent, to 10 per cent., other crossbreds and sllpc 10 per cent, to fully 15 per cent, lower. Average closing rates: 60/64’s (nominal), 2s. to 2s. 2d. per lb., average Is. sd. to Is. Bd.; 50/58’s, Is. lid. to 2s. 2d.; 50/56’s, Is. Bd. to Is. 10d.; 48/50’s, Is. fid. to Is. Bd.; 44/46's, Is. sd. to Is. fid.; 36/40’s, Is. 3jd. to Is. 4jd. Of total offerings of 140.445 bales, 92,000 soid, Continent taking 55,500 bales, Home trade 35,500. and America 1000. Next series commence November 20. Oats. Foreign quiet, but more interest shown recently. Plate December/January shipments offered 245. 3d„ Chilean February/Mareh shipments sold 245., and American white clipped for early October shipment 235. lid. English freely offered, best making 295. 6d. for feed and 335. for seed. Nominal value. New Zealand “A” grade Gartons for October shipments, 31s. Peas. Maple: English crop good quality and fair supply offering cheap. Imported Inactive. New Zealand No. 1 partridge sold for Scptember/October shipment at fils., Tasmanian new crop for February-March shipment offered at 735. 6d. Blues: Demand is chiefly for Dutch and English, of which yield abundant. Nominal value New Zealand £lB to £l9, and Tasmanian £l9 to £l9 10s„ c.i.f., London. Beans. English, demand is moderate and supply small. Threshing delayed. Choice winter making 455. to 4Gs. Chinese horse firm and October/November shipments sold £lO. BUTTER AND CHEESE The New Zealand Producers’ Co-opera-tive Marketing Association’s weekly cabled market report from London, dated October o, is as follows:—Butter: Market slow. New Zealand finest, 182 s. to 1845.; first grade, 178 s. to 180 s.; unsalted, 186 s. to 1905.; Australian, Ififis. to 1725.; Argentine, 1775. to 1705.; Danish, 1025.; Siberian, IGOs. to 1625. Cheese: Market quiet. New Zealand white, finest, 1135.; first grade, 1125.; coloured, finest, Ills.; first grade, 110 s.; Canadian, white, 110 s. to 1145.; coloured, 110 s. to 1125.; Australian, 108 s. to 110 s,

Messrs. Joseph Nathan and Co., Ltd., have received the following cablegram from their London house, dated October 8: —New Zealand butter, 178 s. to 180 s. per cwt.; New Zealand cheese, white and coloured, 110 s. per cwt. Both markets stagnant.

WANGANUI POULTRY AND PRODUCE PRICES. Wanganui, October 8. There was a limited quantity of poultry at Messrs. Williams and Harper’s sale on Friday, and a very keen demand, and prices advanced accordingly. Light birds sold at 10s. and heavier ones at 13s. per pair. Pigs, weaners, Ils. to 14s. Produce and vegetables: Rhubarb, 6s. to Bs. dozen bundles; parsnips, Is. fid. to 2s. 6d. tin; cauliflowers, 4s. to Ss. dozen; carrots, Is. Cd. to 2s. tin: new potatoes, local 5Jd. lb.; green peas, Bd. lb. Fruit: Pears, Bs. to 10s. case; apples, 10s. to Ils. and 7s. and 9s. case. BUTTER MARKETING BOARD REJECTED BY NEW SOUTH WALES DAIRY FARMERS. By Telegraph.—Press Association. Sydney, October 8. Attempts to create a Butter Marketing Board here failed, the supporters having failed to obtain the requisite two-thirds of the total votes polled. A feature of the ballot against the pool was the strong negative vote in the dairying districts of the North Coast. METROPOLITAN SHOW For the Metropolitan Show, which Is to be held on November 8 and 9, the schedule drawp up has quite a number of uew features of special interest to women. Very liberal prizes have been offered in the fancy work and art sections, as well as In the cookery classes. A new departure this year is that work which has already been awarded a first prize at the Metropolitan Show or the Winter Show is not eligible for competition except in one special class. Free schedules and entry forms for the show may lie obtained at the Canterbury A. and P. Association’s office. 151 Worcester Street, or a post-card to Box 296 will bring a schedule by re--5 Xhtb

LIVE STOCK SALE

RAETIHI. The New Zealand Loan and Mercantile Agency Co., Ltd., held their fortnightly stock/sale at Raetihi on Friday, when they offered to a good attendances of buyers a fair yarding of sheep and cattle. Sheep met with poor competition, while cattle were again in good demand, showing an increase in valnees on previous sales. Prices were as follow:—Wether hoggets, passed in at 315.; ewe hoggets, passed in at 345. fid.’ 4-vear bullocks, £lO 15s. to £ll 55.; 3year steers, £7 10s. to £8 155.; 2-year steers £7 2s. 6d. to £7 155.; 2-year P.A. steers. £8 ss. to £8 155.: empty cows, £5 2s. fid. to £7 10s.: small (rough) 2-year steers, £6 Is.: rough cows, in calf, £4 15s. to £5 10s.; dairy heifers, £6 to £8 10s.

EGG-LAYING COMPETITION MASTERTON CLUB. Dominion Special Service. Mnsterton, October 8. The following are the results of the egglaying competition being conducted at Solway Poultry Farm by the Masterton Poultry Club for the 27th week ended on Saturday :— SINGLES.

WELLINGTON STOCK EXCHANGE

YESTERDAY’S BUSINESS AND PRICES

At the afternoon call yesterday a sale of a parcel of New Zealand Breweries shares at 545. 3d. was made on (Change, and this was the only transaction recorded during the day. The market generally was quiet with few buyers. For Government securities the demand was confined to the 5} per cents, at £lOl ss. Bank shares were very quiet, and there were bidders for the shares of two banks only. Commercial Bank of Australia, ordinary, were wanted at 305., and Union Bank at £l5 ss. Sellers quoted £8 17s. 6d. for English, Scottish, and Australian Bank, £9 13s. for National Bank of Australasia, £5 paid, and 28s. 3d. for Bank of New Zealand "D” shares. There were a few buyers for financial shares. There were bids of 84s. 6d. for National Mortgage, 21s. 4d. for New Zealand Guarantee Corporation, preference, and 10s. for Wellington Deposit. Gisborne Gas were steady at 9s. Cd., and Wellington Gas, preference, at 17s. 3d. Gear Moat shares were steady at 41s. 3d., and Wellington Meat Export at Ils. fid. There were buyers of Kaiapoi Woollen, ordinary, at 12s. 9d.. Wellington Woollen, preference, at £6 155.. Bartholomew Timber at 175.. Kauri Timber nt 195., Burns, Philp, and Co. at 425. fid., Electrolytic Zine, ordinary at 325. 3d. and preference at 335. fid., Newton King, preference at 75., New Zealand Drug nt 705., Wellington Queen’s Theatre at 225. 9d.. and Wilson’s Cement at 38s. 9d. Y'esterday’s buying and selling quotations were as under: — Buyers. Sellers.

SALES IN OTHER CENTRES By Telegraph.—Press Association. Auckland, October 8. Sales.—War Loan, 1939, 4) per cent., £99; inscribed stock. 1938, 44 per cent., £9B 17s. 6d.; Farmers’ Trading Co., 7s. 6d.; Sanford Ltd. 18s. 6d.; Waihi, 14s. 2d. Christchurch, October 8. Sales.—Bank of New South Wales, £5l 55.; South British Insurance. 625. 9d.; Goldsbrough, Mort, 515.; New Zealand Refrigerating (£1 paid), 18s. lOd.; Kaiapoi Woollen (7s. paid), 45.; Christchurch Gas, 255. 5d.. 255. 4d.; Christchurch Gas (10s. paid). 12s. 7d.; Mahakipawa, Is. lid. (three parcels), Is. 9d. (seven parcels), Is. Bd. (four parcels). . „ Sales Reported—Kaiapoi Woollen (7s. paid), 4s. Dunedin, October 8. Sale.—New Zealand Breweries shares, 545. COMPANY ACTIVITIES DUNLOP RUBBER Advice has been received from Australia that the directors of the Dunlop Rubbc J Company of Australasia, Ltd., have had under consideration the statement of accounts for the period ended June 30, and have announced that the accounts which were then subject to audit disclosed a loss for the period, and no dividend would be paid on the ordinary shares. I his result. It Is stated, has been brought about Partly bv adverse trade conditions, but chiefly by the heavy fall in the price of rubber, which has necessitated the writing down of stocks of raw materials and finished goods, and providing against probable loss on forward rubber contracts. To meet the losses arising from this and to provide, for the interim dividend of £.6,000 paid in March last, on the cumulative Preference shares, and for the final dividend of £26,000 on these shares which the board recommends should be paid, the general fund is drawn upon for approximately £Bo.OOU. The reserve fund last year stood at £lda,000. The balance-sheet figures for the financial year will be based on the recent exhaustive independent revaluation OI ail freeholds, leaseholds, plant and machinery. The surplus arising therefrom is taken to an assets reserve fund.

BANKRUPTCY PROCEEDINGS PETITION FILED A petition in bankruptcy has been filed with the Official Assignee by Herbert George Chapman and Francis McLaughlin, pram manufacturers. CREDIT-GIVING TROUBLES The indiscriminate giving of credit on the part of retailers, and wholesalers also, is causing a good deal of trouble, encourages fraud. In the Magistrates Courts throughout New Zealand, the hearing of debt cases forms no small part of the week's work. New Zealand is not singular in this respect for retailers in Australia also are experiencing difhculties in debt collection. In Victoria in the grocery trade the situation is receiving serious attention. StorekeepeTS are being urged to “face the realities of the position.” It is believed that. if a combined effort were made to limit credit to short terms, customers ■ generally would accept a change without demur. It is recommended that a charge for interest be made where accounts are not met prqmptij. If three months’ “lifts” in interest were made the compounded charge would soon attract the notice of the debtors and probably induce them to pay up more rcadilj than has been customary. ’ s proposed to charge interest the recommendation by leading members of the Grocers’ Association is that customers be warned on Invoices Hint If i J c< ’ o !‘'’ ts n „ a ,T overdue interest will have to be paid; Probably some steps of a similar nature will have to be taken in the Dominion and special efforts should bo made to encourage cash trading; at all events the cn/’fi customer should be given a substantial concession. CUSTOMS REVENUE. The Customs revenue collected at the port of Wellington yesterday totalled £11,466.

Eggs Weight for week of eggs. Tl. oz. dr. E. ,T. Wing, W.L., No. 1. 0 11 6 151 E. W. Tooby, W.L o 10 0 139 Opaki Stud Farm, W.L. . 6 12 15 129 G. E. Moody, W.L o 11 12 103 T. and J. Taylor, W.L.... 6 13 0 105 E. A. Tozer, B.O t) 9 4 103 L. A. Wadham, B.O t) 10 0 95 E. .1. Wing. W.L., No. 2 . 7 13 8 94 A. Cook, W.L f) 10 14 92 Rayner Bros.. B.O., No. 1. 7 13 6 92 W. Spence. W.L — — 90 B. Pimm, B.O —— —— 04 II. C. West, W.L □ 11 3 <13 Rayner Bros., B.O., No. 2. 6 13 13 57 H. J. Pryor, R.I.R Rayner Bros., W.L —— — 57 11 0 50 73 1190 TEAMS. F. Taylor, W.L., No. 1... 6 12 0 150 „ No. 2 6 12 7 133 „ No. 3 6 13 2 408 Dr. Tweed, W.L., No. 1 . 6 14 10 135 „ No. 2 i) 10 7 132 No- 3 5 10 8 140 407 W. Spence, W.L., No. 1.... 6 13 4 133 „ No. 2 6 12 8 129 >* No. 3 «> 10 14 118 380 G. Webb, W.L., No. 1 .... 5 10 12 74 „ No. 2 6 11 15 140 No. 3 6 11 8 151 365 E. W. Tooby, W.L., No. 1 4 7 14 143 „ No. 2 « 11 0 108 h No. 3 4 7 14 110 *361 P. Freeman, W.L., No. 1 .. 6 13 0 119 No. 2 B J3 2 131 ,, No. 3 6 11 4 105 355 C. H. Robbins, W.L., No. 1 6 13 10 72 ,, No. 2 6 11 6 116 „ No. 3 6 12 0 151 339 R. K. MeDonell, W.L., No. 1 7 13 8 118 ,, No. 2 11 8 97 „ No 3 7 14 12 116 J. Bradbury, W.L., No. 1 {J 11 0 87 „ No. 2 6 13 0 115 ,, No. 3 J. D. Rowlands. R.I.R. 6 12 12 127 329 » No. 1 6 11 6 97 „ No. 2 6 1.1 8 120 „ No. 3 3 6 0 104 Geo. Masters. W.L., No. 1 6 13 4 ■130 „ No. 2 3 6 12 94 „ No. 3 4 9 4 05 319 A. A. Hoare, W.L.,. No. 1 6 12 4 99 „ No. 2 6 13 4 124 „ No. 3 « 13 0 92 315 Opaki Stud Farm, W.L., „ No. 1 Pl 11 10 144 „ No. 2 6 11 10 87 tf No. 3 6 12 14 83 314 Geo. Waring. W.L., No. 1 4 9 2 78 „ No. 2 6 13 7 104 No. 3 5 10 0 125 307 H. C. West, W.L., No. 1 .. 5 10 10 111 „ No. 2 5 9 12 87 ,, No. .3 5 10 14 87 285 A. A. Hoare, R.I.R. No. 1 6 12 0 93 „ No. 2 5 9 12 79 „ No. 3 6 13 8 50 222 C. E. Brock, W.L., No. 1 6 14 8 52 „ No. 2 5 10 14 55 „ No. 3 6 12 6 110 217 Rev. Blathwayt, B.O., No. 1 —— 43 „ No. 2 4 7 0 46 „ No. 3 3 5 0 61 ■150 288 5725

N.Z. GOVT. LOANS— £ R. d. £ R. d. 51 n.c. Ins. Stk.. 1936 101 {j 0 101 15 0 5* n.c. Bonds, 1933 and 1936 101 5 0 — DEBENTURES— N.Z. Breweries (bonds) Buller County, 5 p.c.. — 1 4 6 1940 - 93 10 0 BANKS— Commercial of Aust. 1 10 0 ■ .. English, Scottish, and 8 17 6 National of Australasia (£5) New Zealand (long- — 9 18 0 term mortg.) 15 — 1 8 3 Union of Australia .. Ditto (Melbourne re5 0 — 15 glster) FINANCIAL5 0 National Mortgage .. N Z. Guarantee Corp. 4 4 6 — (ord.. 8s.) Ditto (pref.) 1 1 4 0 0 2 Wellington Investment Wellington Deposit — 0 11 3 0 10 0 ■i — GAS— 0 9 6 Auckland (contrib.) . 0 18 0 1 6 0 Wellington (pref.). .. insurance— 0 17 3 0 1G meat“pre serving- *> 1 3 o 6 N/Z. r Refrigerat. (10s.) Well. Meat Expt, (ord.) 0 li 6 6 8 11 WOOLLEN— Kaiapoi (ord.) 0 J9 Wellington (ord.) ... 6 15 0 COAL— t 1 10 9 —* « a? 5

TIMBER— Bartholomew 0 17 0 0 19 0 0 11 9 BREWERIES— New Zealand 2 14 fi Staples and Co — ■ 1 19 3 MISCELLANEOUS— British Tobaeeo (Aust.) (ord.) — 2 4 0 Burns, Philp, and Co. 2 2 fi Electrolytic Zinc (ord.) 1 12 3 1 13 3 Ditto (pref.) 1 13 G 1 14 G Howard Smith (ord.) —— 16 0 .Newton King (pref.) . 0 7 0 — N.Z. Drug Co 3 10 0 — Walrarapa Farmers’ — , . 0 12 3 Well. Queen’s Theatre 12 0 — Wilson’s Cement .... 1 IS 9 —