Farm and Commercial Section

Dominion, Volume 22, Issue 32, 1 November 1928, Page 14

Farm and Commercial Section

LATEST REPORTS from ALL CENTRES

AUCTION SALES

TO-DAY. Showgrounds, Palmerston North, account Buick and Son, 9.30 a.m.—Sale rams, etc. (Dalgety and Co.) 68 Riddiford-Street, 1.30 p.m.—Sale of furniture (Silverstone and Co.) Palmerston North Showgrounds, 2 p.m. —Sale of cattle and sheep (Wright, Stephenson and Co.) TO-MORROW. 19 Upland Road, Kelburn, 10.30.—Sale of furniture, etc. (E. Johnston and Co.) Warren Street, Hastings, 1 p.m.—Sale of contractor’s plant, estate McGaffin (Daigety and Co.) Longlands Saleyards, Hastings, 11 a.m. —Sale of Springfield cattle (W.S. and Co.) FROZEN MEAT TRADE NEW SEASON’S EXPORTS The New Zealand Meat Producers' Board reports the following shipments of frozen meat from New Zealand to London for the period October 1 to 15:— Beef. Mutton. Lamb. Pork. 1928. Qrs. Cares. Cares. Cares. October 1-15'.. 38 0475 4470 8921 Total for same period last yr. 1581 84,008 94,767 — The killings of stock for export at all works during the period October 1-15 of the 1928-29 season, compared with those for the corresponding period of last year.

Sundries (frt. cares.) 0275 3452 The stocks of frozen ipeat on hand in cool stores in New Zealand as at October

steamers not departed from New Zealand at October 15 were:—Beef (quarters), 1,877; wether mutton (cares.), 22,037: ewe mutton, 34,639: lamb, 90,895; pork (porkers), 483; pork (baconers), nil. SOUTH AMERICAN SHIPMENTS. i ■ The New Zealand Meat Producers’ Board has received a cablegram from its representative at Buenos Aires, advising the following shipments to the United Kingdom for the fortnight ended October 25, from Argentine and Uruguay:—l97,l7s quarters chilled beef: 4,450 quarters frozen beef; 50,877 carcases frozen mutton; 112,950 careases frozen lamb. The quantity shipped to the continent of Europe during the same period was as f0110w5:—57,475 quarters frozen beef: 13.913 carcases frozen mutton; 3000 earcases frozen lamb. CANTERBURY PRODUCE MARKET (By Telegraph.—Press Association.) Christchurch, October 30. There is little change in the markets, and as stocks in merchants’ hands are not large, little is being done in pushing business. i ■ ; j Potatoes, after their sensational advance, are now steady at £ll a ton f.0.b., s.i. Growers have been meeting the northern demand to some extent b.v picking over the larger seed, but this class of supply has ceased. A few lines of tables are coming forward, but purchasers at the high prices asked, are buying only small lots. The Auckland inquiry has ceased, but there is a fair demand from outside centres in the north. The main topic of discussion is the change that the good rain has made 1 in the crop prospects. Under the influence of the prolonged spell of dry weather, the wheat market hardened, but the movement has eased. Oats are firm at 4s. Id. f.0.b., s.i, tor A Gartons and 3s. 6d. for Bs. respectively (3s. 6d. and 2s. lOd. to 2s. lid. on trucks). Offerings of Danish cocksfoot at a low price have been made, but the compulsory staining of this seed has affected the demand. Small stocks of Akaroa seed in the hands of merchants are firmly held on the basts up to is. ljd. lb. Cowgrass can be imported at 9d. a lb., nnd this has reduced the value of the Canterbury product to fid. to farmers. Stocks of White Clover are not large. Values on trucks range from lOd. to 12d. a lb. Cheap seed is offering from England from 112 s. to 120 s. a cwt. This seed must be stained on arrival. SOUTHERN FARMERS’ EXCURSION VISIT TO NORTH ISLAND PLANNED. Dominion Special Service. Dunedin, October 30. The question of inaugurating an excursion to the Waikato Winter Show at Hamilton next year was discussed at a meeting of the Otago provincial executive of the New Zealand Farmers' Union to-day. Mr. Barnes, representing the Railway Department, was in attendance and gave some details . regarding tlie cost of the trip and the places proposed to be included in the itinerary, which would occupy 11 days. He said railway fares, steamer faros and accommodation would cost about £l5. In reply to n question Mr. Barnes stated that the Hamilton Show would be held from May 28 to June 4. but it was pointed out that tose dates would clash with the Winter Show at Dunedin. A motion in favour of making a trip to the North Island was carried unanimously. It was decided to recommend that the excursion be made during the latter part of May. and a committee consisting of the chairman nnd secretary was set up to confer witli tlie Railway Department in the matter of arranging details. DAIRY BOARD'S CONTROL OF SHIPPING. By Telegraph.—Press Association. Carterton, October 30. At the annual meeting of the South Wairarapa Dairy Companies’ Association held yesterday tlie following resolution was unanimously passed:—‘'That tills association approves of the action of the Dairy Produce Board taking over the control of tlie shipping of dairy produce and supports the attitude taken up by the chairman of the board therewith.”

LIVE STOCK SALES ADDINGTON By Telegraph.—Press Association. Christchurch, October 31. For the Addington double market, in view of the show mid racing carnival next week, there were large entries of fat cattle and spring lambs, but only an average one of fat sheep. There was a keen demand for beef, the previous week's values being firmly maintained. Most of the fat sheep were"shorn, and for these the demand was keener than for those in the wool. Ail prime sheep showed an advance or Is., but there was practically no change in the other descriptions. Spring lambs met with a good sale. There was a ready sale for store cattle, a feature ot the /aiding being some pens of three to five-year steers in backward condition. Good dairy cons sold well at late rates; prime veaiers were in short supply and sold at advanced ra, i’here was a larger yarding of store sheen than for some time past, and as the result of the good rains there was a much Improved demand. Dry sheep advanced Is P to Is. 6d per bead, while ewes and lambs were linn at late rates. Good halfbred ewe hoggets made 335. <Jd. to good three-quarter-bred ewe S wethers 335. Cd. to 355., well-woolled cr >ssbred wethers to 345., backward ewes with lambs 15s 6d. to 17s. Cd. (all counted) There was an entry of 600 spring lambs, a good proportion being prime and willJr/wn ’and U.ht. au'good sorts sold at late rat ®«- a ® al ’?£ d ]am I bsk7s Dg o n 4o?, a prim?lambslss. r lo l 3 r medium lambs 28s.' to 325., small lambs 235. C< Tlm bulk of the offerings of fat sheep were shorn, and the greater proportion were of very prime quality. The demand on the part of the butchers was more for shorn sheep than for those in wool. 1 rime sheep both in and out of the wool showed a rise of about Is. per head, nnd medium and backward sorts sold fully up to the previous week’s rates. Extra prime shorn wethers made to 48s. 3d., prime shorn wethers 365. to 425.. lighter shorn wethers 275. lOd. to 355.; extra prime woolly wethers to 555. Id.; prime woolly wethers 445. to 505., medium and unfinished woolly wethers 3Ss. to 435. Cd.; extra prime woolly ewes to 535. 4d., prime woolly ewes 375. to 41s, medium and inferior woolly ewes 30s. to 365.; prime shorn ewes to 41s. 4d.; prime shorn ewes 335. to 375., lighter shorn ewes 255. to 325., short hoggets 2ts. lOd. to 40s. 3d., lighter woolly hoggets 265. lOd. to 345„ prime woolly hoggets 355. to 465. The yarding of fat cattle totalled 744. The quality was exceptionally good as a whole, prime steers and heifers forming by far the greater proportion. The only outside supplies were from the West Coast. The market opened nt prices quite up to the previous week's rates, and the sale continued very firm throughout. While not quotnbly higher, prices were Inclined to harden. Extra prime handy-weight steer and heifer beef was equal to 51s. to 555., average prime steer beef 475. to 505.; plain heavy steer 38s. fid. to 435., prime cow and heifer beef 465. to 505., medium 41s. 6d. to 455., and rough down to 325. per 1001 b. Extra prime steers' made to £24 2s. 6d„ prime steers £2O to £2l 10s., medium steers £lB to £l9 155., ordinary steers £ll 12s. 6d. to £l7 155.: prime heifers £l5 10s. to £l7 17s. Cd., ordinary heifers £8 17s. Cd. to £l5 55.; extra prime cows to £l7 7s. Cd., prime cows £l4 10s. to £l6 155., medium cows £ll to £l4 55., aged and inferior cows £8 to £lO 15s. Veaiers.—There was a fairly large mixed yarding of veaiers. Good sorts were below requirements and prices for them showed an advance. Two-year-olds made to £ll, good veaiers £7 10s. to £9 10s., medium veaiers £3 10s. to £7, small calves 15s. to £2 10s. There was a mixed yarding of store cattle and a good sale for all classes. Four and five-year? steers .made £l2 155., three nnd four-ycar steers £lO 12s. 6d., yearling steers £4 13s. Cd. to £5 Is., three-year heifers £7 16s. to £B, good cows £5 10s. to £B, medium cows £3 to £5, old cows 30s. to £2 10s.. bulls 30s. to £9. Dairy Cattle. —There was an average yarding of dairy cows, and good sorts sold fully tip to late rates. Best second, third and fourth calvers made £8 10s. to £ll, medium 'sorts £6 to £B, inferior sorts £4 to £5 10s.: backward calvers £4 10s. to £6 10s.: heifers £4 10s. to £9. There was a large yarding of porkers and choppers and a medium one of baconers. Choppers were in over-supply, there being a record entry of between 50 and 60. and prices all round were lower. Baconers sold at late rates and porkers, which opened well, eased off towards the end of the sale. Choppers made 30s. to £5. light baconers £3 to £3 10s., heavy baconers £3 15s. to £4 6s. 6d., extra heavy baconers to £4 6s. fid. (average price per lb. 5Jd. to 6Jd.): light porkers 325. to 455., heavy porkers 48s. to 58s. Gd. (average price per lb.. 61(1. to 746.). A medium entry of store pigs was cleared at slightly Improved prices. Small weanors made fis. to 9s. Good wcaners 10s. to 145.. small stores 12s. to 165.. medium Stores 17s. to 225. fid., large stores 255. to 305., extra large stores to 355. 6d. BURNSIDE By Telegraph.—Press Association Dunedin, October 31. Fat sheep and spring lambs were easier in price at the Burnside stock sales to-day. Average yardings came forward and there was good competition in the majority of cases. All classes were featured in the fat cattle section, Including several pens of extra prime bullocks. The sale was irregular and prices generally showed a reduction of about 20s. a head compared with last week's rates. Fat Cattle.—There were 219 in the yarding, of good average prime quality. All classes were featured, including some extra prime bullocks and cows. Prices were easier by 20s a head. Prime heavy bullocks made to £24 155., medium, heavy >£lS 10s. to £l9 10s„ medium light £IC to £l7 55., light £l5 15s. to £l3 155.; heavy heifers £l4 to £l5 10s„ medium £l3 to £l4, medium light £l2 to £l2 155., light £lo_to £lO 155.: heavy cows £ll 10s. to £l2 55., light £lO to £ll ss. Extra heavy bullocks sold on a basis of 505., prime light welghths 525. Gd.. prime heifers 475. Gd., cows and light heifers 40s. per 1001 b. Fat Sheep.—A penning of 1600, with tlie exception of 200 ail in wool. The yarding comprised good average to prime quality crossbred wethers, a fair number of good ewes, and odd penningc of fine wools. The sale opened at about 2s. easier on last week, but inter firmed, and clearances were made under good competition. Extra heavy wethers made 555. to 575., prime heavy 48s. to 50s. 66., prime-335. to 455.. light prime 38s. 6d. to 415.: heavy ewes 455. to 485.. prime ewes 395. 6d. to 425.. medium 31s. to 365.: shorn wethers 355. to 375. Extra heavy wethers sold on a basis of 7d., light 7)6.. prime ewes Gd.. light and aged 56. per lb. Spring Lamb.—A yarding of 56 comprised very fair prime quality. Good sales were recorded, prices being Is. to Is. fid. easier than last week. Prime lambs sold at 395. to 435. 6d., medium 355. to 375. Prime lamb sold on a basis ot lOd. to Is. a lb. Store Cattle.—A penning of 150 comprised cows and young cattle, witli 50 well-bred station 3 and 4-yenr-old bullocks. The latter met with a good demand, in spite ot the fact that they showed signs of travel, and brought £ll ss. to £ll 175.; other classes were unchanged. Pigs.—ln the yarding were 143 fat and 68 stores. Fats were very firm at last week's rates nnd stores were practically unchanged. Prime baconers sold on a basis of 6,6. and prime porkers 746. lb. JOHNSONVILLE Messrs. Wright, Stephenson and Co., Ltd., and Abraham and Williams. Ltd., report on the .Johnsonville sale held yesterday, as follows: — "Owing to tlie inclement weather, the attendance of butchers was not as large as usual. The yarding submitted comprised good quality stock. Sheep and lambs sold on a par with last week s rates. Bullocks met with a good sale. Helfers and cows were slightly easier. We quote:—Bullocks, £l4 7s. (id.. £l6 us, •£ 1(1 155., £l7, £l7 17s. 66 , £lB los. to £l9; heifers. £l6 10s„ £lO L»s.. £ll to £!»• cows. £lO 10s. to £lO 155.; wethers, woolly 465.: wethers, shorn. 2115.. 31s. 66. Jo 33s ; owes woolly, 355.. 40s. to 40s. fid.; ewes, shorn, 275. lid.. 38s. _2d. to 395., lambs 245. Id., 245. 9(1., 2.>5., 2.is. 3d., 28s. Nd., 295. Nd M 31s. Gd.. 325. to 335. 3(1. J ve&jcxSi £* 12b. to £3 (is.

WELLINGTON STOCK EXCHANGE YESTERDAY’S BUSINESS AND PRICES At the morning call yesterday a sale of Gear Meat shares at 43m. was reported, and at the afternoon call sales of oj per cent. Government stock (1932) at -s. Gd., and 51 per cent, stock (1936) at i-iUI 10s. were reported. w hi. Government securities were stead? am th buyers of the 4* per cents, at U) and the 5J per cent, bonds at £lOl us., Wellington Gas (debentures) wa ? te 2inn £lOO, Wellington Racing Club at 10s., and New Zealand Breweries (bouds) at ßank Shares were firm. There were blds of £7 Is. 3d for Mtwnal Bank of New Zealand, £ul is. (id. lor Bank of New South Wales.'6ls. 3d. for Bank of New Zealand, 28s. 3d. for Bank of New Zealand "D” shares, and £lo as. for Union Bank There were sellers of Commercial Bank ot Australia at 3()». Oil., and National Bank of Australasia, £lO paid at £l9 10s. a-nd £-J paid at £J Mortgage shares were firm nt 455. and New Zealand and River 1 late at 325. New Zealand Guarantee Corporation. preference, were wanted at _os. .IdWellington Investment at 10s. 8d„ Wellington Deposit at 10s., and 15illiu»ton Trust anil Loan at £6 18s. Insurance shares were firm, with buyers of National Insurance at 16s. Gd.. cum. dividend. New Zealand Insurance at 4os. Gd., and south British Insurance at 635. Gd. , Christchurch Gas shares were wanted _at 255. 3d. Napier Gas. £lO paid, at £lO is. 66.. and Gisborne Gas at 9s. .id. New Zealand Refrigerating, 10s. paid, were in demand at 95., Wellington Meat Export at 12s. Gd.. and Canterbury hrozen Meat at £9 I-luddart-Parker were wanted at 475. 9d., and P. and O. deferred stock at uos. Wellington Woollen shares were in firm demand, the ordinary at £6 17s. and the preference at £6 18s. There yveTe buyers of New Zealand Breweries at 545. 3d.. Burns. Philp, and Co. at 445. Gd.. cum. dividend, Dominion Investments at 225. Gd.. National Electric at 9s. 66.. New Zealand Drug at 695. Gd.. Wairarapa Farmers preference at Ils. 66., and Wilson s Cement ■at 40s. Id. I’estcrduy’s buying and selling quota-

SALES IN OTHER CENTRES By Telegraph.—Press Association. Auckland, October 31. Sales.—War Loan, 1936. 54 per cent., £lOl 55.; National Bank ot New Zealand. £7 Is. Gd.; New Zealand Guarantee Corporation (ord.), Bs. Bd.; Hikurangi Coal, ss. lOd.; Taupiri Coal, Os. fid.; Auckland Gas. 235. 2d., and contg. 17s. Id.; Wilson's Cement, 405.; 11 aihi Mining. 14s. Christchurch, October 31. Sales. —Commercial Bank of Australia, 30s. 2d. (2 parcels): Bank of New Zealand, 61s. 4d„ 61s. sd„ 61s. 7d.; Bank of New South Wales. £5l 155.: Goldsbrough Mort, 51s. 2d.; New Zealand Breweries, 545. 4d„ 545. 5d.; Mahakipawa, Is. 4d. (5 P 'salcs^iteported.—Tolaga Bay, 6 per cent., 1944. £lO3 10s.; New Zealand Breweries (bonds), 245. sd. Dunedin, October 31. Sales Reported.—Bank ot New Zealand,, 61s. 3d,; Commercial Bank, 30s. 3d. COMPANY ACTIVITIES CANTERBURY FARMERS’ ASSOCIATION OBJECTION TO WRITING DOWN OF SHARES. By Telegraph.—Press Association. Timaru, October 31. The thirtv-iiftli annual meeting ot the Canterbury- Farmers’ Co-operative Association was lield yesterday. Mr. K. McKenzie, chairman of directors. said that Hie trading profit for the year was £19.161. As indicating an improvement in iiie finance, he said that tlie liability to the bank and the depositors in 1923-24 was £698,544, compared with £4.7.826 in 1927-28. a decrease iu four years ot £270,718. The past year’s working showed a decrease of £3OOO in expenses, elilefly In salaries and overdraft interest. Increased earnings were £6BOO. In the past four vears deposits had been reducefl by almost half. Tlie report and balance-sheet was Hl The C meeting agreed to alter the articles of association to provide for a reduction in the .number of directors from twelve to nine, five to represent tlie depositors and four the shareholders. The directors are to be paid an aggregate of £l2OO per year. In order to stabilise the financial pos - tion and restore the association to divi-dend-paying basis, tlie directors recommend writing down all tlie ordinary nnd preference shares by 255. ench. The ordinary nnd c and D preference shareholders agreed to the proposal, but the A nnd B preference shareholders rejected it. The matter, so far as the two latter groups are concerned, is to come tip for reconsideration. BANKRUPTCY PROCEEDINGS SEVEN PETITIONS FILED IN OCTOBER Seven petitions in bankruptcy were filed in Wellington for the month of October, as against five for October of Inst year. The total number of Wellington bankruptcy petitions filed for the year up to the end of October was 56, as against 34 for the corresponding period ot last year. CUSTOMS REVENUE. The Customs revenue collected at the port of Wellington yesterday totalled £9998.

DAIRY PRODUCE EXPORTS REGULATING SHIPMENTS An important matter is dealt with by the chairman of tlie Dairy Board (Mr. W. A. loins) in liis monthly review, in the "Exporter.” He says the board lias no problem which is so difficult Io solve, nor one so worthy of consideration nnd investigation as that of deciding the quantities which should be shiiipcd from New Zealand during tlie months of November to March, The board was unanimous in the decision reached at the September meeting that the following quantities should be shipped for November, December, January, and February : — -r, Boxes - November December 380,000 January 380,000 February 340,000 Tlie quantity shown for November is approximately ail that will be available for shipment in November. Our estimate is that bv (he end of February, a•! butter graded to the end of January will be shipped out. In other words, there will be approximately a month s butter iu store. The board has certainly acted on the suggestion of the London manager, and is proceeding with caution. Mr. Davis, while recognising that continuity of supplv is necessary if nothern markets in Great Britain are going to be secured for New Zealand produce, also realises that during the northern summer there is generally available larger quantities of Northern Hemisphere butter at lower prices. It is necessary to take, a long- view in seeking to regulate shipments. -xThe Cheese Position. , In connection with cheese ,the board decided to ship out the following quantities :— . Crates. November ilnnna December linnm January •••••••:••• 140,000 - February 140,000 The November quantity, represents all available for shipment for that month. As with butter, by the end of February there will be about a month’s gradings of cheese in store. In connection with cheese, the London manager of the board writes — “Practically the same remarks as applied to butter apply to cheese. If aehveries are as even as possible, spread to leave very little New Zealand to dispose of when the bulk of the Canadian arrives, we think the best results will be obtamed It is doubtful if the delaying of shipment of cheese offers as.much justification as delaying shipments of butter New Zealand’s competition ■in cheese comes entirely from the Northern Hemisphere. Great Britain still manufactures between forty and fifty per cent, of the cheese consumed by her own population. Whilst winter dairying is being c . arl ‘™ on to some extent, the production in the winter months (which is our summer) is verv much reduced. Our only othei com netitor is Canada, whose shipments of any quantity arrive in Britain fr°m June to November inclusive. This leaves a fairlv clear market for New Zealand cheese, December to May inclusive. .During the present Canadian summer, which is now drawing to a close, the Quantity graded for export, is about equal to tlie quantity graded the in pxnorts are very much greater. .» Canada are naturally lower, as shipments have been made promptly, with a view to semirhig th" hijh prices ruling on the British market during the last tew months It can reasonably be anticipated that there will be short supplies of Canadian cheese from November onward.

AUSTRALIAN FINANCE London financial writers continue to criticise Australia’s excessive bprrowffife with the accompanying growth of interest pay nipnts and the inadequate returns derived torn the expenditure 1 of borrowed money. It rnav be recalled that in October, 1926, S. R. Cook (stockbroker) and EL H. Davenport issued a pamphlet entitled Aus tr'ilian Finance” and Dedicated to the Im ne'rlal Conference, 1926.” In tins pamphlet they asked, “Is the system safe andl aie the trustees justified in continuing to hand ovL- a large proportion of the nation’s savInca to such reticent and pertinacious borrowers? In fact, is Australian finance sound?” They gave instances of losses in connection with tlie Commonwealth oil refineries and the shipping “f®-“"A that it was clear tliat a part of the loans raised in London were sometimes aPP II6 / 1 to purposes productive only of losses to the States and sometimes to I’urposes damaging to commercial firms in which the British investor is directly interested. The most recent criticism of Australian finance is by the “Nation and Athenaeum, of September 1 last, which had reference to the fact that the Commonwealth Government wasg congratulated on the success of its £20,000,000 loan at 5} per cent, for repayment of 5 per eent. stock. “The success of the conversion from - the point of view ot the Australian taxpayer, who will have to pay 5i per cent, interest, instead of 5 per cent.,” says the journal, “is not obvious. The rate of interest paid on the Commonweath public debt, according to the estimable figures of the Commonwealth Statistician. has already risen from £4 19s. 3d. per cent, in 1923 to £5 4s. Bd. in 19-7. It must not be forgotten that Australia is borrowing abroad at the rate of nearly £4O 000.000 a year, and that if this borrowed money is not altogether spent on productive purposes it nevertheless finds its way into the pockets of good Australians. The test of the soundness of Australian borrowing is whether the national debt is increasing at a greater pace than the national productivity. The statistics show that it is.” FOREIGN ITEMS THE WHEAT MARKETS. (Australian Press Assn.—United Service.) (Rec. October 31, 5.5 p.m.) London, October 30. Wheat.—Cargoes are dull and have mostly declined 3d. to 6d. per quarter. Parcels are quiet with a similar drop. Shipments by the Ulysses and Themistocles, in bags, and by the Port Napier in bulk, brought 475. 6(1. per quarter; by the Coptic, 475. fid. Liverpool futures: December, fis. 4d.. 7s. Bd. per cental; March, 9s. 4id.; May, fis. 4 3-Bd. (Australian Press Association.) Chicago, October 30. Wheat futures.—December, 1 dollar 15 7-8 cents per bushel; March, 1 dollar 20i cents; May, 1 dollar 23 3-8 cents. LOANS IN NEW YORK. ’ New f York, October 30, Quotations of Australian loans on Wall Street to-day were:— Commonwealth, u per cent., JanuaryJulv, 1955, £96; 5 per cent., MarchSeptember, 1957, £964; 41 per cent., MayNovember, 1956. £BB. New South Wales. 5 per cent., FebruaryAugust, 1957, £94 155.; 5 per cent., ApriiOclober, 1958. £94. Queensland, 6 per cent., FebruaryAugust, 11147, £104; 7 per cent., AprilOctober, 1941, no sales. SYDNEY LOAN IN LONDON. London/ October 30. to the city of Sydney loan have not reached expeciations. The loan met the competition of numerous highyielding Issues, notably Peruvian Government C per cent, at £9l. yielding £6 16s. per pent, allowing for redemption, whereas Svdnev’s yield is only £o 7s. *<d. .5-A? Peruvian loan was largely over-subscribed. Underwriters will receive 72 per cent, of the Sydney loan.

were as follow Oct. Oct. 1928. 1927. Rppf (quarters) 2927 831 Wether, 'Mutton (cares.) .. 7176 327 1130 66 T/fimb (cures.) 841 302 Pork (Porkers) (cares.) ... Pork (Haconers (circs.) .... 1814 795 183 492 Boneless Beef (frt. cares.)-’ 947 1073

15 and those for the corresponding date of last year were:— Oct. Oct. 1928. 1927. Beef (quarters) 12,175 0,241 Wettier, Mutton (cares.) .. 21,909 24,301 Ewe, Mutton (cares.) 44,315 27,240 Lamb (cares.) 28,072 13,368 Pork (Porkers) (cares.) .... 0,633 2,119 Pork (Baconers) (cares.) .. 5,627 1,930 Boneless Beef (frt. cares.) .. 15,482 15,264 Sundries (frt. cares.) 47,390 15,577 The stocks of frozen meat loaded into

tions were as under: — N.Z. GOVT. LOANS— Buyers. £ s. d. Sellers. £ s. d. 4J p.c. Ins. Stk.. 1939 99 0 0 — 41 p.c. ditto, 1938 ... 99 0 0 54 p.c. ditto, 1033 ... — 101 10 0 p.c. ditto, 1936 ... 01 7 6 51 p.c. ditto, 1930 ... —-■ 99 10 0 41 p.c. Bonds, 1938 and 1939 99 0 0 ——• 54 p.c. Bonds, 1933 and 1936 01 5 0 ■ — DEBENTURES— Wellington Gas 100 o o —— Well. Racing Club .. •• 06 10 0 •—• N.Z. Breweries (bonds) 14 3 —— BANKS— Commercial of Aust. (ord.) National of N.Z 7 13 110 0 7 3 6 National of Australasia (£10) — 19 10 0 9 14 3 New South Wales .... 51 7 6 — New Zealand 3 1 3 3 19 Ditto, long-term mortg. 18 3 —— Union of Aust 15 5 0 — Ditto, Melbourne re15 5 6 ■■ ■■ FINANCIAL— National Mortgage .. 4 5 0 — N.Z. Guarantee Corp. (ord.. 8s.) •— 0 8 9 Ditto (pref.) 10 9 — N.Z. and River Plate 1 12 0 —* Wellington Investment 0 10 8 — Well. Trust and Loan 6 IS 0 — Well. Deposit and Mortgage 0 10 0 '— GAS— Auckland (contrib.) . —-• 0 IS 0 Christchurch 15 3 ■—- Napier (£10) 10 7 6 — Gisborne 0 9 9 — INSURANCE— 0 10 0 1 - New Zealand 2 5 0 Queensland — 3 7 6 South Britisli 3 3 6 —— . MEAT PRESERVINGCj? ea r 2 3 9 N.Z. Refrigerat. (10s.) 0 9 0 ..— Well. Meat Exp. (ord.) 0 12 0 —— Canterbury Frozen Meal 9 0 0 — TRANSPORT— , Huddart-Parker (ord.) 2 7 9 — P. and O. def. stock . 2 15 0 3 0 0 WOOLLEN— Kaiapoi (pref.)' 0 14 3 Wellington (ord.) .... 6 17 0 •—• Ditto (pref.) 6 18 0 COAL— —... — 1 10 6 Westport-Stockton (ord.) —■ 0 4 0 Waipa —— 0 13 6 TIMBER— , ■ 0 11 0 Levland-O'Brlen .... — 1 10 0 BREWERIES— 2 14 3 2 15 0 Staples-and Co 2 ;0 3 Ward and Co ——• 2 3 6 0 15 0 MISCELLANEOUS— Burns, Philp, and Co. 2 4 6 — Dominion Investments 12 0 —— Howard Smith (ord.) ■ — 15 6 National Electric .... 0 9 6 —— N.Z. Drug Co 3 9 6 —— N.Z. Express Co. (ord. 0 19 0 Wairarapa Farmers’ 0 11 6 0 15 0 Wilson’s Cement .... 2 0 1 2 0 6 MINING— Waihi Grand Junction — 0 0 11 Kawarau — 0 0 6