Farm and Commercial Section

Dominion, Volume 22, Issue 52, 24 November 1928, Page 12

Farm and Commercial Section

LATEST REPORTS from ALL CENTRES

WOOL MARKET EXCELLENT COMPETITION AT LONDON SALES (Australian Press Assn.—United Service.) London, November 22. At the wool sales 11,369 bales were offered, of which 5887 were Australian and 1668 New Zealand, comprising a splendid selection of merinos, including a large offering of second-hand suitable for topmakers.The sale was marked by excellent competition, with the Continent predominant. Prices were fully maintained. Typical prices realised were: Tinenburra, highest 21d., average 20d.; Milo, 19Jd. and 18d.; Pardoo, 20d. and 19d.; Bftbbaguady, 23d. and 21d. Scoured wools: Maxwelton. 45d. and 43d.; Melrose, 40Jd. and 39d. New Zealand greasy: Carlton Hill, 18Jd. and 17d. OTHER ADVICES. The Department of Agriculture has received the following cablegram, dated November 22, from the High Commissioner for New Zealand London:—“Wool sales opened on Tuesday with crowded attendance, and all centres represented. Conditions have improved since September series. Competition excellent, and practically everything has been sold. Compared with closing rates last series: Merino, 5 per cent, advance; crossbred, scoured, 7} per cent, advance;: slipc, fine, 5 per cent, advance; slipe, medium and coarse, 7J per cent, to 10 per cent. No greasy crossbred offered. Total available for series 109,700 bales, of which New Zealand 30,000, Australian 55,000. and South American 5100." Messrs. Murray, Roberts, and Co., Ltd., are in receipt of the following wool market cablegram from their London agents dated November 22:—Sales continue with a good tone. Compared with last London sale’s closing rates: Lambs’ merino, greasy, advanced 5 per cent, to 10 per cent.; scoured merino, best, advanced 5 per cent.; scoured merino, medium to good, advanced, 7} per cent.; scoured merino, Inferior, par to 5 per cent, advance; crossbred greasy, very small selection, advanced 71 per cent. The Loan and Mercantile Agency Co., Ltd., have received the following cablegram from their London house under date November 22: —Wool sales: Market stronger. Greasy nnd scoured crossbred, also crossbred slipe, 7-J per cent, to 10 per cent, higher. The following cablegram dated November 22 has been received by Messrs. Dalgety and Company Ltd. from their London office: — Wool sales continue: strong competition. As compared with closing rates of last series, greasy crosbred is 71 per cent, to 10 per cent higher on average. The Bank of New Zealand produce department has received the following advice from its London office under date November 22: Compared with the close of last series, medium and coarse crossbreds are Id. toTjd. per lb. higher.

BRADFORD QUOTATIONS FIRMER (Australian Press Association.) London, November 22. On the Bradford tops market business is small, but quotations generally are firmer. Quotations: 64’s, 48d.; 60’s, 45(1.; 56’s, 33£d.; 50’s, 30d.; 4fi’s, 24Jd.; 40’s, 23jd. BUTTER AND CHEESE LONDON QUOTATIONS. (Australian Press Association.) London, November 22. Butter is firm and selling steadily. Danish; 200 s. per cwt.; choicest salted New Zealand, 1765. to 180 s.; exceptional quality, 1825.; Australian, 1725. to 1745. Unsalted butter: New Zealand, 1925. to 1945.; Australian, 184 s. to 186 s. Cheese is dull. New Zealand, white 104 s. to 105 s. per cwt., coloured 103 s. to 104 s. Australian is temporarily cleared. Mr. G, A. Mills has received the following cabled advice from Messrs. A. J. Mills and Co., Ltd., London, under date November 22: — Butter: The market is firm, with finest New Zealand butter at 180 s. to 1825., first grade 1765.; Danish butter 200 s. to 2025.; Australian butter, 1725. to 1745. , . , xr Cheese: This market is slow. New Zealand white cheese is quoted at 104 s. to 105 s„ coloured cheese 102 s. to 1035.; Canadanian white cheese, 108 s. to 110 s., coloured cheese 106 s. to 108 s. Messrs. Dalgety and Co. have received the following report from London, dated November 22 (last week’s quotations in Pa ßutter? S Market firm. Danish, 200 s. (1965. to 108 s.); New Zealand finest salted, 1765. to 180 s. (1735. to 178 s.); Australian finest unsalted. 182 s. to 184 s. (180 s. to 184 s.); Australian finest salted, 170 s. to 1745. (1665. to 1725.): Australian G.A.Q., 1645. to 1665. (160 s. to 16 Cheese: Market quiet. New Zealand cheese, white 103 s. to 105 s. (106 s. to 108 s.). coloured 102 s. to 103 s. (104 s. to 1055.) ; spot price for Canadian white nnd coloured, 106 s. to 110 s (106 s to 110 s.); c.i.f. for Canadian, 100 s. to 104 s. (100 s. to 1045.). FROZEN MEAT Messrs. Dalgety and Company Ltd. have received the following cablegram, dated November 22, from their London o®ceLamb.—Prime Canterbury, 281 b. to 31 b„ lOd.; prime North Island, 281 b. to 361 b., Old.; prime Canterbury, 301 b. to 421 b., lOd • prime North Island, 301 b. to 4-.11>., Old.: prime Canterbury, second quality, Bd.; prime North Island, second quality, Bd.; prime Canterbury, 421 b. to 501 b., 9 1-Sd.; prime North Island, 4-lb. to 501 b., not quoted. The market Is weaker, and the demand runs principally on finest qualities. “Mutton.—Prime Canterbury, 481b.t0 501 b., 6 5-8(1.; prime North Island, 4Slb. to 561 b., Old.; prime Canterbury, 5Mb. to 041 b., 6 3-Bd.; prime North Island, 561 b. to 641 b., Cd.; prime Canterbury, 641 b. to 721 b., 6<1.; North Island, 041 b. to 7-lb., Cid.; prime Canterbury ewes, 481 b. to 641 b., 4}d., prime North Island ewes, 481 b to 641 b., 4{d. The market Is weaker and the demand limited. _. „ . . ~ Australian Lamb. —G.A.Q. Australian, 281 b. to 361 b., Od.;; G.A.Q. Australian, e6lb. to 421 b., 7id.; F.A.Q. Australian, 281 b. to 361 b., 7Jd. The market Is dull; the demand runs principally on finest qualities. Australian Mutton. —G.A.Q. Australian, 401 b. to 601 b., 4{d.; F.A.Q. Australian, 301 b. to 551 b., 4d.; Australian ewes, 4d, The market is quiet; demand poor. Beef.—New Zealand prime ox beef, hinds 44d., fores 3Jd.; Argentine, chilled hinds 6id., fores 4jd. The market is weaker; demand moderate. Pork. —English porkers, 801 b. to 1001 b., 84d.; New Zealand porkers, 801 b. to 1001 b., 6d. to 6Jd.; N.Z. porkers, 1001 b. to 1201 b., M. A. Eliott Ltd., Palmerston North, have received cable advice from London of the following Smithfield prices for the week ended November 23 (these prices are on the “delivered” basis, that is, including storage charges, cartage, etc i Best North Island prime lambs: Up to 361 b., 9 7-Bd.; 361 b. to 421 b., 9Jd.; 421 b. to 501 b., 9Jd. Ordinary North Island lambs: Up to 421 b., 9jd.; second quality, up to 421 b., BJd. Best North Island wethers and/or maiden ewes: 481 b. to 561 b., 6L1.; 561 b. to 641 b., 6Jd.; 641 b. to 721 b., 6d.; over 721 b., 6d. Ordinary North Island wethers and/or maiden ewes, 481 b. to 561 b., 6 3-Bd.l 661 b. to 641 b.. 6 3-Bd.; 641 b. to 721 b., 5 7-Bd.; over 721 b., 5 7-Bd. North Island ewes: Up to 641 b.. 4 3-Bd.; 641 b. to 721 b 3 7-Bd.; over 721 b„ 3 7-Bd. New Zealand prime ox beef (equal fores and hinds), 1601 b. to 2201 b., 4}d. Remarks: Lamb, par to id. lower; light wethers, no change; heavy wethers, id. tower; ewes, l-Bd. tower; beef, no change. Market continues very depressed. Little or no demand for lamb, wethers or ewes. HIDE AND SHEEPSKIN SALE WELLINGTON PRICES The fortnightly sales of sheepskins, hides and tallow were held yesterday, the uspal buyers in attendance. The brokers report that the recent advance in wool prices vias felt in the prices realised for skins, dry lots showing an advance of fully id. per lb , whilst salteds showed a distinct hardening. Hide and calf were in good demand at recent rates. Following is the range of prices.- . Dry Sheepskins.—Halfbred, 13d. to 14? d. > fine crossbred, 13jd. to 142(1.; medium crossbred, 12d. to Mid.; coarse crossbred, 12d to 135<1.; half-wools, lOd. to 12)d.; quar-ter-wools, B,d. to HJd.; pelts, Bd. to 12d. Salted Skins—Pelts, 3s. 2d. to 4s. 5d., quarter-wools, ss. 9d.; three-quarter wools, Bs, 7d. to Ils. 7d.; full wools, 9s. Id. to 13s. Bd,: extra large, 14s. 6d.; lambs, 2s. Bd. tO indes.—Ox, 331 b. to 441 b., Bi d -i OX, 451 b. to 521 b., 9d. to Old.; ox, 531 b. to 591 b.. 9)d. to lOd.; ox, 601 b. to 691 b., lOd. to 10 3-Bd., ox, 701 b. and over, 10 1-8(1. to 10 3-Bd.; cow, 331 b. to 391 b., 7 3-Bd. to 9 7-Bd.; cow, 401 b to 481 b 8 3-Bd. to 9Jd.; cow, 401 b. and over 8 1-8(1. to 9 5-Bd.; kip, 251 b to 321 b„ 8d to HJd.: kip, 171 b. to 241 b.. IM. to 12(1., yearling, Hlb. to 161 b., lOd. to 10id..; calfgib to 101 b., lOd. to 12d.; calf, 6Jb. to 81b., lid. to 16d.; calf, 11b. to 51b., lOd. to 17d. Tallow.-In casks, 29s to 315.; in tins, Horse hair, 20d. to 23Jd.

OTAGO A. AND P. SHOW SOUTH ISLAND CHAMPIONSHIPS By Telegraph.—Press Association. Dunedin, November 22. The annual Summer Show of the Otago A. and P. Society was concluded to-day in good weather. The attendance was about 11,000, and the gate takings £482. The entries were better than those of last show and the quality of the stock, especially sheep, showed a great improvement. South Island championships were awarded as Follow: — Friesians. —Male: W. Y. Dickie and Sons (Mataura). Female: T. R. Eades (Edendale). Ayrshire.—Male: Gillies Bros. (Hampden). Female: A. E. Wright (Edendale). , . ~ , A distinguished visitor to the show was’ Viscount Hampden, who was accompanied by Viscountess Hampden and his daughter, the Hon. Barbara Brand. LIVE STOCK SALES FEILDING Dominion Special Ser; Foil ding, November 23. A continuation of the good prices ruling lately was shown at to-day’s sale, where there was a good entry in all sections. Fat shorn ewes made good sales at from 235. lO.d to 255. 7d.; woolly ewes, from 30s. to 325.; fat 2-ths„ from 295. to 335. fid.; shorn wethers, 31s. lfid. to 345. 2d.; while a small pen of this year’s lambs made 275. In the store pens, the bulk of the yarding was young sheep, which sold well. Two and four-tooth wethers made from 245. 4d. to 30s. 4d.; 2-th ewes, to 295. Cd.; ewe hoggets, _m wool, to 465.; small mixed hoggets, 2os. Bd.; and 4-yr. ewes, to 255. Id. There was a good entry of fat cattle of from fair to medium quality, but values showed little change over most lilies. Heavy cows sold from ±lO ±lO 16s. to £l2 55., with other lots at from £7 to £8 15s. A pen of prime heifers brought £l4 fis., with others at from £8 10s. to £ll 10s., while a small entry of bullocks sold from £ll ss. to. £11 7s. 6d., A few passings were made in the. store cattle section, but for the most part. values were firm. Good run cows changed hands at from £3 10s. to £6; 18-months heifers, from £5 2s. Cd. to £6 18s.; 2-year heifers, £7 19s. to £8 ;weaner heifers, to £4'ss.; heavy cows with calves, to. a.s. to £8; 3-year heifers, £9 55., and 2-year 8 Dairy cows met a rising market, the entry comprising some good sorts , in milk, which met with good competition. Prices for cows in milk were from ±ll 10s. to £l6 ss. Springing cows were priced at from £9 15s- to £11; and springing heifers, to zJ os. MANGAWEKA. Messrs. Dalgety and Co., Ltd., report having a small entry of sheep and a fair yarding of cattle at their Mangaweka sale on Thursday, practically all of which changed hands under good competition. Quotations’: Mixed age ewes with lambs, £2 7s. lOd.; rough 3-year steers, £7 55.; light, fat and forward cows. £7 3s. 6d. to £7 10s.; two-year empty Hereford heifers, £0 to £7 18s.; 2-year P.A. empty heifers, £8 10s. TAIHAPE. Messrs. Dalgety and Co., Ltd., report having a fair entry of sheep and cattle at their Taihape sale on Wednesday. Following are particulars:—7o wether hoggets, 325.; 340 ewe hoggets, £2 Is. Id.; 275 ewe hoggets, £2 35.; cull ewe hoggets, 305.; medium ewe hoggets, 305.; dairy heifers, £5 155.; dairy cows, £<; 2-year empty heifers, £5 165.; 3-year steers, £8 15s. CARTERTON. Messrs. Dalgety and Co., Ltd., report as follows on the Carterton stock sale: — A good yarding of cattle and pigs was submitted to a large attendance of buyers. Competition was keen throughout the sale, with prices on a par with recent sales. Following is the range. of prices: Dairy cows, £10; springing heifers, £9. £lO 12s. 6d. to £lO 155.; fat cows, £9; fat bullocks, £lO 10s.; forward cows, £5 10s. to £6 2s. Cd.; empty P.A. cows, £8; yearling dairy heifers, £5 15s. to £6 2s. 6d.; store cows, £4 2s. to £4 10s.; weaner pigs, 265. to Ids. fid.; store pigs, 245. to 245. 6d. WELLINGTON STOCK EXCHANGE YESTERDAY'S BUSINESS AND PRICES At the morning call yesterday a sale of Bank of New Zealand shares at Mb. Ud. was reported. At tl(e afternoon call a sale of Electrolytic Zinc, ordinary, at 35s 6d. was made on Change, and renorted were 5J per cent, stock (1933) at £?01 7s. 6d., New Zealand Breweries, bonds (two parcels) at 255., National Bank of Australasia, £5 paid, at ~ o „q“ s ’A d ßl Tjn| New Zealand “D” shares at 28s. 3d., Bank at £l5 7s. 6d., Dainty at £l5 to;Goldsbrough Mort at 525. 9d., Lew Zealand Guarantee Corporation at Bs. Insurance at 16s. lid. and Ls., and New Zealand Refrigerating, 10s. paid, at 9s. sd. There was a poor demand tor Govern meat stocks. The 4J per cent, bonds were wanted at £99 is. Cd., and the 5} per cent, stocks (1936) at £lOl, and b °bto at £lOl ss. Wellington Racing Club (debentures) were in demand at ~106 ius., and New Zealand Breweries (bonds) at “°Bank shares were steady and in good demand. There were buyers of Commercial Bank at 30s. 4d., National Bank of New Zealand at £7 2s. 3d., Bank of Ne-n Smith Wales at £5l 155., Bank of New Zealand at 01s. 7d„ Bank of New Zea and "D” shares at 28s. 2d., and Union Bank at £l5 fis. Sellers quoted £8 12s. lor E.S. and A. Bank, £l9 7s. for National Band of Australasia £lO paid, and £0 l~s. 1 ' shares were firm. Dalgety and Co. were steady at £l5 2s. fid., Goto®’ brough Mort at 525. fid., Equitable Buildins at £8 55.; National Mortgage at ±4 Bs. 6<1.. New Zealand Loan and Mercantile at £llB, New Zealand and River I late at 325., New Zealand Investment at Os. 9(1., Wellington Investment at 10s. fed., ana Wellington Trust and Loan at £6 19s. 6d. Christchurch Gas shares were in 'tomaud at 265., and Napier Gas at £lO 7s. 6d. For National Insurance 16s.- 10d„ was bid, and for South British Insurance 645. ’ There were buyers of Wellington Meat Export at 12s. Sd., Hyddart-Parker at 475. lid.. Kaiapoi Woollen at 13s. Cd., and Kauri Timber at 195., cum. dividend. Brewery shares were in fair demand. New Zealand Breweries were wanted at 465. 9(1., and Ward and Co. at 425. 6d. There were buvers of British Tobacco at 445. 3(1.. Burns, Philp, and Co. at 445. 3d., Electroljtic Zine, ordinary at 3us. and preference at 365. 6(1., National Electric at Its., New Zealand Drug at 70s. 9d., Farmers’ preference at „125., Wellington Queen's Theatre at 225. 9d., Gasca Bricks at 235. 9d„ Wilson’s Cement at 41s. Id,, Mount Lyell at 305., and Waihi at 14s. 7d.

WESTLAND BREWERIES, LIMITED. This Company, which absorbed the brewery businesses of Mandi’s at Hokitika, Davies’ at Hokitika, Pearn’s at Kumara, and Monteith’s at Reefton, started operations on July 1 last. The new business is proceeding successfully and the outlook is good. The balance of the unallotted shares are now available for subscription and can be obtained from Messrs. Finch, Webster and Oswin, Organising Brokers, 159 Featherston Street, or any other member of the Wellington Stock Exchange.—Advt. A COMING INDUSTRY An advertisement appears elsewhere in this issue,- announcing- the formation of the Waiouru Fur Trading Company, Ida.,with a nominal capital of £40,000. The fur and wool rabbit industry is believed to have shown abundant proof of developing into one of the most profitable of the Dominion’s industries, and investors are now offered an opportunity to invest in a well-organised company, which has been forijied( it is stated) under a particularly strong directorate. .

COMPANY ACTIVITIES . LOAN AND MERCANTILE' 1 AGENCY ’ . THE YEAR’S ACCOUNTS. The New Zealand Loan and Mercantile Agency Co., Ltd., has received a cablegram from its Loudon office intimating that the company will hold its annual meeting in London on December 6. The revenue account' shows,. after paying taxes £72,256 18s. 3d., writing off premises £lO,OOO, and making provision for bad and doubtful debts; and charging debenture stock interest, a balance of' £176,098 17s. 9d. The sum of £lO,OOO has been appropriated to the staff benevolent fund. Interim dividends. paid on the 5 per cent, cumulative preference stock and on tho ordinary stock, together with dividend on the 6i per eent. cumulative second preference stock for the year, plus the dividends now proposed to be paid, will absorb £162,500. After including the amount brought forward from last year, £47,597 9s. 9d., there will be £51,196 7s. 6d. to be carried forward. The dividends proposed are: Final dividend on 5 per cent, cumulative preference stock of 2% per cent, (making 5 per cent, for the year) and on ordinary stock a final dividend of 5 per cent, (making 8 per cent, for the year), both less 2s. in the £1 in respect of English income tax. WESTPORT COAL COMPANY Dominion Special Service. Dunedin, November 22. At the annual meeting of shareholders in the Westport Coal Company the report and balance-sheet, providing for a final dividend of Is. 3d. per share, making 2s. 3d. for the year, were adopted. The retiring directors, Messrs. Edgar Hazlett .and James Begg, were re-elected, and Messrs. C. A. Statham and J. b.. Hislop were reappointed auditors. All the speakers made special reference to the hopes that were entertained for an improvement in the’todustry as a result of the development ' taking . place for the ' better utilisation ■ of coal either in its pulverised form, or by distillation at low temperature's for the extraction of the valuable oils and the manufacture, of smokeless fuel.. / ._ / ' —I The use of the word “inclusive" instead of “exclusive” was responsible for an error In the review of the New. Zealand Farmers’ Co-operative Distributing Company’s balance-sheet which was published in ‘‘The Dominion, on Thursday. It was stated that the. sales for the year, inclusive of land sales, showed the> substantial increase of ~..,,2® L incorrect, the turnover being exclusive of land sales. FOREIGN ITEMS' WHEAT AND OTHER PRODUCE. (Australian Press Assn.-United Service.) (Rec. November Wheat. —Cargoes are quiet, but unchanged in price. That by an unname vessel due iii December from Calcutta, sold at 465. 3d. per quarter. Parcels are in poor support, but unchanged in price. Parcels by the Themistocles brought 475. lOd" by the Talleyrand 48s. Liverpool futures: December, 9s. 3Jd. per cental. March, 9s. 44d.; May, 9s. 4 7-Sd Spot trade is dull.; Australian ership, 49b. Flour is inactive. Australian, ex store, 84 0ats,‘ peas, and beans are steady. Chicago, November 22. Wheat futures: December, 1 oollac 16 5-8 cents per bushel; * 211 cents; May, 1 dollar 23 7-8 cents.

Yesterday’s buying and selling quotations were as under: — layers. Sellers. N.Z. GOVT. LOANS— £ s. . £ s. d. 5* p.c. Ins. Stk., 1933 01 7 0 n.c. ditto. 193(5 ...10a 0 0 51 p.c. ditto, 1932 ... 99 0 0 41 p.c. Bonds, 193S and 1039 B9 7' 6 —- 5} p.c. ditto. 1936 ... 101 5 0 DEBENTURES— N.Z. Breweries (Inscr. stock) 1 4 9 . — 2 Ditto (bonds) 1 5 0 1 0 BANKS— Commercial of Aust. (ord.) 1 10 4 1 10 7 English, Scottish, and Australian 8 12 0 National o£ N.Z 7 2 3 5 0 National of Australasia d (£10) 19 7 Ditto (£5) 9 13 G New South Wales ... 51 15 0 New Zealand 3 1 7' 3 1 L0 Ditto, long-term mortg. 1 8 1 8 6 Union of Aust 15 6 0 Ditto (Melbourne re15 gister) 6 0 FINANCIAL— Dalgety and Co 15 G 15 7 6 Goldsbrough Mort 12 and Co o 6 — Equitable Bldg. Soc. 8 5 0 National Mortgage .. 4 8 6 —— N.Z. Guarantee Corp. (ord., 8s.) —- 0 8 7 N.Z. Invest., Mortg., and Deposit 0 9 9 —• N.Z. Loan and Mercantile IS 0 0 — N.Z. and River Plate Well Invest.. T. * A. 1 12 0 — 0 10 8 ——• Well. Trust and Loan 6 19 6 — GAS— Christchurch 1 6 0 —- Napier (£10) INSURANCE— 10 7 6 — National 0 16 10 0 17 1 New Zealand — 7 6 South British 3 4 0 — MEAT PRESERVING— Gear ■ 4 Meat Export (ord.) . 0 12 3 —— TRANSPORT— Huddart-Parker (ord.) 11 2 8 3 WOOLLEN— 15 Katapoi (ord.) .0 13 6 0 0 Ditto’ (contrib.) —— 0 u 0 Wellington (ord.) ... — 7 7 0 COAL— Westport •— 1 11 0 Westport-Stockton (ord.) — 0 3 6 Walpa —— 0 13 4 Pukemiro —— 3 8 G TIMBER— Kauri 0 19 6 1 0 4 Leyland-O’Brien .... — 1 14 6 • National 0 10 6 BREWERIES— 9 17 New Zealand 2 10 2 7 Staples and Co ——• 2 0 IVard and Co 2 6 MISCELLANEOUS— Burns, Philp, and Co 2 4 3 — British Tobacco (Aust.. (ord.) 2 4 3 —- Electrolytic Zinc (ord.) 1 15 0 —- Ditto (pref.) ........ 1 16 6 1 17 6 National Electric .... 0 11 0 N.Z. Drug Co 3 10 9 —- N.Z. Express (ord.) —- 0 19 0 N.Z. Paper Mills .... —— 0 17 9 Wairarapa Farmers’ (pref.) 12 0. 15 0 0 0 ■Well. Queen's Theatre .1 9 —r0 Wilson’s. Cement .... 1 1 Gasco Bricks t,,..... 1 3 9 —