Farm and Commercial Section

Dominion, Volume 22, Issue 72, 18 December 1928, Page 14

Farm and Commercial Section

LATEST REPORTS from ALL CENTRES

AUCTION SALES TO-DAY. 195 Lambton Quay, 2.30 p.m.—Sale of property. 224 Watts Street (Harcourt). 105 Customhouse Quay, 11 a.m.—Sale of sites, Wadestown (Nathan). Levin stool: sale. 108 Cuba Street, 1.30 p.m. —Sale of toys (Silverstone). Thorndon Reclamation, 10 a.m. —Sale of ironbark piles (Johnson). 5 Harbour View, 10.30 a.m. —Sale of furniture (Johnston). S Willeston Street, 1 p.m. —Sale of frocks (E. Johnston and Co.) TO-MORROW. Johnsonville fat stock sale. Albert Hotel, 1.30 p.m.—Sale of contents (Doherty Auctioneering. Ltd.) 105 Customhouse Quay, 11 a.m. —Sale of sites, Rongotai Terrace (S. G. Nathan). S Willeston Street, 1.30 p.m. —Sale ot radio sets (E. Johnston and Co.) 201 Lambton Quay, 10.30 a.m. —Sale of drapery, etc. (E. Johnston and Co.)

TIMARU WOOL SALE

PRICES ON PAR WITH CHRISTCHURCH By Telegraph.—Press Association. Timaru, December 17. There was a full and representative bench of buyers to-day tor the opening wool sale of the season in Timaru. A total ot 11,984 bales were submitted, an Increase of 2137 bales on the offering at the lirst sale last season. The wool came forward in fairly good order, but as a result of the unfavourable weather experienced during the spring the standard was not up to that of the lirst sale last year. A number of clips were bright and wellgrown, but hogget wool generally showed signs of tenderness in many cases. Valuations tended a fraction more than the buyers were prepared to offer, but nevertheless about 90 per cent, of the total offering was cleared. The Continent and Bradford were the principal operators, and the bidding was fairly keen. The Dominion mills purchased most ot the top lots, showing a preference for good halfbreds. Although prices were down on those obtained at the corresponding sale of last season, the prices were on a par with the sale held recently at Christchurch.

THE PRODUCE MARKETS HIGH COMMISSIONER’S CABLED REPORT The Department of Agriculture has received the following cablegram, dated December 15, from the High Commissioner for New Zealand, London:— Tallow. Market very quiet with only small business at auction. Present quotations for spot are:—Mutton: Fine, 455. Gd. to his. per cwt.; fair to good, 41s. fid. to 455.; dark to dull, 38s. to 395. Beef: Sweet and/or mixed, 425. to 4fis.; fair to good, 40s. to 425.; dark to dull, 375. to 3Ss. Mixed: Fair to good, 395. Cd. to 41s. fid.; dark to dull, 375. to 38s. Gut, etc.: 3Us. to 38s. Apples. Demand improved somewhat, but still below normal. Present quotations for American and Canadian are:—Stayman's Winesap, Jonathan, Bs. fid. to 10s. fid. per case; Spltzenberg, Delicious, 10s. to 125.; Oregon Newton, 10s. fid. to 14s. Hemp. Manila market dull, though easier, but market steadier stt the close. Closing values J grade, January-March shipment, £37 10s. Stocks in Great Britain November 30, 15,130 bales, against 7240 bales same time last year. Sisal: Market quiet and prices at about No. 1, £4O 10s.; No. 2, £3B 10s. Tow: Good business has been done with No. 1 at £2B to £2B 10s.; No. 2 not so much interest; nominal value is £26 to £2O 10s. New Zealand market quiet, but very little offering. Value unchanged. Eggs. Supplies plentiful. Market quiet and demand is less than supply. lonic consignment: Few breakages, but general condition of them Is satisfactory and very good quality. Present quotations are:— English, 225. to 265. per long 100; Dutch, 19s. to 245.; Danish, 235. to 235. od.; New Zeaalnd, 18s. to 205.; Australian, 16s. Od. to 18s.: South African, 15s. to 18s. Wool. Bradford markets quiet generally. Home demand for tops very restricted and tendency of price in favour of buyers. Present quotations are:—o4’s (Merino), warp, 3s. lid. to 4s. per lb.; average, 3s. lOd. 56’s (super halfbred), 2s. lOd. 50's, prepared, 2s. 4Jd. 40’s, prepared, Is. lOd. to Is. 10}d. OTHER ADVICES. The New Zealand Producers' Co-opera-tive Marketing Association's weekly cabled report from London, dated December 14, Is as follows: — Butter. —Market firm. New Zealand finest, 184 s. to ISfis.; first grade, 180 s. to 1825.; unsalted, 1945. to 2035.: Australian, 180 s. to 1845.; Argentine, 170 s. to 180 s.; Danish, 218 s. Cheese. —Market steady. New Zealand finest white. 975. to 985.; coloured, 995. to 100 s.; Canadian white, 110 s. to 1125.; coloured, 108 s. to 1125.; Australian white, 90s. to 975.; coloured, 90s. to 100 s. The Bank of New Zealand, produce department, has received the following cabled advice from its London office, as at close of business last week:— Butter.—Firm; 182 s. to 180 s. per cwt. Cheese.—Steady; white. 90s. to 98s. per cwt.; coloured, 98s. to 100 s. Frozen Maat.—The market for mutton is dull. The market for lamb Is depressed owing to absence of demand. Beef is firm, but there is little busihess doing. Wethers, light, s}d. to 7d. per lb.; wethers, heavy. sd. to 55<L; ewes, 3Jd. to od.; lambs, 2’s, 91(1. to 93d.; lambs, B's„ 9-Jd. to 9Jd.: lambs, 4’s, 9d. to Old.; lambs, seconds, 7jd. to Bd.: ox hinds, 4Jd. to 4Jd.; ox fores, 3Jd. to 4d.; cow hinds, 4d. to 41d.; cow fores, 3jd. to 3jd. TALLOW MARKET Messrs A. H. Turnbull and Co. have received the following cablegram from Messrs. W. Weddel and Co., Ltd., dated London, December 12: “At tallow auctions to-day, 900 casks were offered, of which 270 casks were sold. Late rates to Gd. less.” LIVE STOCK SALES FEILDING Messrs. Dalgety and Co., Ltd., report having had a very fair entry of both fat and store sheep and a small yarding of cattle at their Feilding sale on Friday. There was good competition throughout and practically a total clearance effected. Quotations: Fat lambs, 275. 6d. to 31s. 6d.; shorn fat lambs, 255. Gd.; fat two-tooths, 295. 3d.; fat tour-tooth ewes, 315.; fat ewes, 235. Gd. .o 245. 4d.; fat wethers, 30s. to 325. Bd.; two-tooth wethers, 28s. 9d.. 295.; four-tooth wethers, 295. (id.; black-faced two-tooths. 295.; dairy heifers, £9 2s. Gd., £9 12s. Gd.; dairy cows, £lO ss. • light fat heifers, £7 18s.; light fat cows, £7 155.; empty fair condition cows, £7 to £7 ss. Messrs. Abraham and Williams Ltd. report as follows on Feilding sale:—We had a moderate yarding of sheep and a good entry of cattle. Prices for all classes of stock were well maintained, the whole of our yarding with the exception of one pen .of fat cattle changing hands under the hammer The following prices were realised: Black-faced fat two-tooths. 28s. 10d.; fat wethers, 305.: forward store wethers, 275. Gd. to 295.: store wethers. 265. Bd.; fat bullocks. £l4 10s.; fat cows, £6 10s. to £l2 155.: forward store cows, £5 10s.. £5 17s. Gd. to £6 2s. Gd.: store cows. £2 10s. to £4 65.; cows and calves £6 2s. Gd. to £10: bulls. £5 to £8 10s.; weaner heifers. £3. £3 17s. I tveaner steers. £4 25.: heifers r.w.b.. £5 55.: yearling P.A. steers. £6 10s. to £8 2s. Gd.: springing Jersey heifers, £7 to £lO 155.: heifers in milk. £S to £ll 55.: cows in milk. £5 tn £9 angoraTand chinchilla RABBIT FARMING.

PEDIGREE Stock from the finest English Studs now arrived in New Zealand. Place your orders now for forward delivery, and secure -took already acclimatised to New Zealand conditions. For full particulars of this profitable industry npnly to J K. MOONEY AND CO Box 95. Dunedin, or THORNTON and'SCAIFE, Box 1107, Wellington.

EGG-LAYING COMPETITION MASTERTON CLUB. Dominion Special Service. Mnsterton, December 15. Following are the results of the egglaving competition being conducted at So'lwav Poultry Farm by the Masterton poultry Club for the thirty-seventh week ended ’to-day:- gINGLES Eggs Weight

WELLINGTON STOCK EXCHANGE YESTERDAY’S BUSINESS AND PRICES At the morning call yesterday sales were reported of Union Bank at £l5 125., Auckland Gas at 235. 9d., and New Zealand Refrigerating (10s. paid) at 9s. 3d. The sales reported at the afternoon call were: English, Scottish, and Australian Bank at £8 10s.. Od. and Wellington Trust and Loan at £7 Is. Cd. There was a moderate demand for Government bonds, with buyers of the 44 per cents, at £9!> 7s. (id., the 51 per cents. (1033) at £O9, and the 5J per cents, at £lOl 7s. Od. Wellington Gas debentures were wanted at £lOO, Wellington City 5} per cents. (11137) at £99 10s., and New Zealand Breweries (bonds) at 255. Od. Bank shares were quiet, but firm. There were blds of 335. (Id. for Australian Bank of Commerce, £8 10s. for English, Scottish, and Australian Bank, £7 3s. for National Bank of New Zealand, £5O ss. for Bank of New South Wales, and fils. Id., for Bank of New Zealand. - Sellers quoted £l4 Ifis. for Bank of Australasia, 30s. Od. for Commercial Bank ot Australia, ami £9 Ss. Od for National Bank of Australasia. £5 paid. Goldsbrough Mort shares were firm at 525. 3d., Equitable Building at £8 10s., Wellington Investment at 10s. 9d. and Wellington Trust and Loan at £7 Is. New Zealand Guarantee Corporation, preference, were in demand at 21s. There were bids of 235. 7d. for Auckland Gas, 2fis. 7d. for Christchurch Gas. £lO 7s. 6d. for Napier Gas, and 30s. for Wellington Gas. South British Insurance were firm at 04s. Cd. Gear Meat shares were steady at 445. Cd., cum. dividend. There were buyer-- of Huddart-l’arker. ordinary at 48s. and preference at 215., Mosgiel Woollen at £7 35., Levland-O’Brien Timber at 315., British Tobacco nt 455.. Burns. Philp, and Co.. South Sea. at 305.. Electrolytic Zinc, r ilinary, at 355.. Howard Smith at 245. Id.. Wellington n ueen’s Theatre at 235., <-nm. dividend. Wilson's Cement at 415.. Gasce Bricks at 255. 9d.. and Mount Lyell at 395. 3d. Yesterday’s buying and selling quot’j-

SALES IN OTHER CENTRES By Telegraph.—Press Association. Auckland, December 17. Sales. —Commercial Bank of Australia, 30s. Bd.; New Zealand Insurance, 40s. (three parcels); Auckland Gas, Cont., 17s. Od.; Ohinemuri Gold and Silver, Bs. Od.; Walhi, 14s. sd. Christchurch, December 17. Sales. —Christchurch Gas, 2(>s. 10d., 265. Oil.. 2l!s. 3d., 255. Od.: British Tobacco, 555. Id? (9 pels.); Electro Zinc (Ord.), 355.; Timaru Gas, 245. Sales reported.—E. S. and A. Bank, £8 10s. Od.; National Bank of Australasia, (£5 paid), £9 75.; Auckland Gas, 235. 9d. (odd parcel); Christchurch (Gas), 20s. "Jd. COMPANY ACTIVITIES GEAR MEAT COMPANY REVIEW OF MARKETS. The annual meeting of the Gear Meat Preserving and Freezing Company of New Zealand, Ltd., was held yesterday, Mr. Allan Strang occupying the chair. The directors’ report has already been published. "In moving the adoption ot the report and balance-sheet," said the chairman, “I have pleasure in congratulating you upon the satisfactory results of the year's operations. The prospects for mutton and lamb through the early mouths of the year were not encouraging, but towards the end of April an improvement took place, and from then onwards good prices were realised. This was largely brought about by the partial failure of the Australian season, and the fact that the South American beef war terminated, which caused supplies from there to be regulated on a much restricted basis: also owing to restrictions on chilled beef from South America on account of foot and mouth disease. The market for tallow and pelts remained steady throughout the year and satisfactory prices obtained. Our wool sold well until Septemmber, when a big drop took place, but as the policy of your directors has always been to meet the market, a large portion of our product had already been disposed of It is gratifying to know that in the i November sales the fall has been recovered and the prices obtained are full? equal to those of July. ' "At present it is rather early to say anything about the prospects for the coming season; owing to the lateness of shear-

ing, stock has not yet come forward in any quantity. It is hoped that there will be a revival in Briitsh trade which should lead to increased purchasing power. Stock lias come through the winter ill excellent condition, and at present there is an abundance of feed in the’country, and we look forward to a good export season. There has been a big increase in the carrying capacity of the Dominion, due in a great measure to the top-dressing of the pastures. The results in many cases have been wonderful, and it will be very interesting to watch Its development. "You will no doubt have noticed in the directors' report that it is their intention In future, when prospects warrant it, to pay a larger interim’dividend in June, thus making the dividends more in proportion over the year. The property and plant at Petone have been well and faithfully maintained, and the latter is equal to any call which may be made upon it. In conclusion, I wish to extend to the general manager, head office and London staffs, buyers, heads of departments, and employees generally the thanks of the board for the good work which they have so faithfully performed during the year.” The retiring directors, Sir Harold Beauchamp, Hon. Dr. W. E. Collins, M.L.C., and Mr. It. W. Gibbs, were re-elected for the ensuing year. Messrs. Ernest W. Hunt and E. R. Dymock were again appointed auditors. Votes of thanks were accorded the manager and staff, the chairman, and directors. A painting by Mrs. J. A. Tripe of Mr. IV. H. Millward, the late chairman, was displayed. BRADFORD WOOL MARKET The Bradford top market is reported stagnant, with a pessimistic tone, and, from this it would appear that the efforts to have the Safeguarding Act applied to the wool textile industry have not met with success. If this is correct, then the industry must face the problem of reducing overhead charges and production costs, and as wages will come in for assault, the outlook is not very promising. The latest quotations for Bradford tops show an all-round decline in values, especially for the finer counts, as the following figures show:— Tops Nov. 29 Dec. 13

The finer counts show a drop of IJd. per lb., fine half-breds are unchanged, but other sorts are down sd. to Id. This makes the outlook for the next London sale, which opens on January 15, rather doubtful, but the New Zealand sales are not likely to be much affected because the wool market is not now bound to Bradford. There are now numerous other buyers in the field. CUSTOMS REVENUE. The Customs revenue collected at the port of Wellington yesterday totalled £14,773. FOREIGN ITEMS THE WHEAT MARKETS. (Australian Press Assn.—United Service.) London, December 15. Wheat.—Cargoes are quietly steady and occasionally dearer on better American cable messages, but buyers are not responsive. Parcels are inactive but steady. Liverpool futures: December, 9s. 0 l-Bd. per cental; March, 9s. 2 3-Bd.; May, 9s. 3 l-Bd.: July, 9s. 4d. Chicago, December 14.. Wheat futures: December, 1 dollar 16} cents, per bushel; March, 1 dollar 19} cents; May, 1 dollar 22 cents.

The range of prices is as follows:— Merino— d. d. Super .... 18} to 19} Average 17} to 18} Inferior .... 1G to 17 Half bred— Super 21 to 23} Average .... 11) to 20 i Inferior 18 to 19 Three-q uarterbred— Super .... 18 to 21 Average 15} to 17} Inferior 14 to 15} Crossbred — Super .... Ifi} to 18 Average .... 15} to 19} Inferior 13} to 15 Corriedale — Super 20 to 21} Average .... 17} to 19} Inferior 10 to 17} Pieces— First Ifi} to 18} Second 11} to 15 12} to 10 Bellies, good .... Crutchiugs 12} to 10 Locks .... 71 to 11} Comeback 19} to 21} Merino, necks .... — to 17 Merino, bellies ... .... — to 14}

tor of Tl. week. eggs. oz. dr. p. J. Wing, W.L., No. 1 7 11 0 205 E W. Tooby. W.L 6 12 10 11)4 Opaki Stud Farm, W.L. '1'. and J. Taylor, W.L. . G. E. Moody, W.L 4 9 4 183 (, 12 6 104 5 11 8 141 E. J. Wing, W.L., No. 2 L A. Wadham. B.O. ... 6 11 , i 10 1;» A. Cook, W.L 6 12 10 1.59 Rayner Bros., 15.0.. No. 1 6 11 12 E. A. Tozer, B.O 1 H. C. West, W.L .» 11 (J 11) Raynor Bros.. B.O., No. 2 W. Spence, W.L o 11 4 12 4 115 98 B. Pimm. B.O 1 0 II. J. Pryor. R.I.R — B 103 Rayner Bros., W.L o 11 0 70 2180 TEAMS. F. Taylor, W.L.,, No. 1. 6 n 11 12 12 207 188 ” Xo 3 6 13 3 176 571 Dr. Tweed, W.L.. No. 1 6 13 8 187 ,, No. 2 6 11 7 186 No, 3 6 13 0 194 567 W. Spence, W.L., No. 1 .. 6 6 14 14 0 0 193 169 ” No. 3 9 0 100 E W. Tooby. W.L., No. 1 4 7 0 195 No. 2 o 9 16a No. 3 4 8 10 100 >, iiu. 520 P. Freeman, W.L., No. 1 .. fj 11 0 174 No. 2 o 11 12 ISO 9 4 158 518 G. Webb, W.L., No. 1 .. — B 98 6 11 8 192 ” No. 3 6 11 14 204 494 C. H. Robbins, W.L., No. 1 6 13 4 128 No. 2 4 8 0 149 No. 3 G 11 12 207 484 J. Bradbury. W.L., No. 1, 5 11 4 139 No. 2 11 8 108 No 3 G 12 4 17G 483 Opaki Stud Farm, W.L.,— 1 0 194 Nn 2 6 12 10 147 No 3 7 14 14 140 4S1 R. K. McDonell, W.L.— No 1 y 10 12 100 No 2 134 No. 3 G 13 4 170 473 A. A. Hoarc. W.L., No. 1 —B ; — 141 No. 2 3 13 8 177 ” No. 3 6 12 4 143 401 Geo. Waring, W.L., No. 1 5 11 4 128 No. 2 >> 4 10 140 >> No; 3 7 14 14 183 457 J. D. Rowlands, R.I.R. — No. 1 4 7 6 154 No. 2 4 7 12 175 No. 3 122 451 Geo. Masters, W.L., No. 1 0 12 14 177 No. 2 ■ - 119 ” No. 3 4 10 0 150 446

II. C. West, W.L.. No. 1 5 11 0 10 0 11 0 167 142 137 446 No. 3 . ..... 5 A. A. Iloare, It.I.It., I S’o. 1 4 8 3 144 „ No. 2 ... 11 1 * * S 130 ” No. 3 ... 3 7 0 102 376 C. E. Brock, W.L., No. , 1 .. 5 12 4 99 -■ ■j ] 8 107 „ No. 3 ... 2 4 8 1G3 369 Bov. Blathwnyt, B.O., No. 1 —B — — 68 N" o. 2 *> 4 •> 74 „ No. 3 ... 4 7 2 86 22S 239 — — 8347 —

tions were as under: — Buyers. Sellers. N.Z. GOVT. LOANS— £ s. d. L. s. d. 44 p.c. Ins. Stk., 193S . —— 99 15 0 51 p.c. ditto, 1933 ... 101 0 44 p.c Bonds. 1930 ... —— 99 10 •« 4j p.c. ditto, 1941, 193S, and 1939 99 7 6 —— 5i p.c. ditto. 193G ...101 7 (5 —— 5} n.c. d'tto, 1933 ... !!9 0 0 —— DEBENTURES— Wellington Gas 100 0 0 —- N.Z. Breweries (inscr. stock) — 1 6 0 Ditto (bonds) 1 6 1 G 0 Well. Harbour Board, 54 p.c., 1940 — 100 10 0 Well. City. 54 p.c., 1937 99 Waitomo Power Board, 10 0 — 51 p.c.. 1904 — 100 0 0 BANKSAustralasia — 14 1G 0 Aust. Bank o£ Commerce 1 13 G —- Commercial of Aust. (ord.) — 1 10 9 English, Scottish, and Australian 8 National of N.Z 7 10 3 0 0 7 0 National of Australasia 6 (£5) —— 9 8 New South Wales .. oO 5 0 — New Zealand 3 1 4 Ditto, long-term mortg. — 1 8 G

FINANCIAL— Goldsbrough Mort .... Equitable Bldg. Society 2 12 3 2 12 10 8 10 0 — N.Z. Guarantee Cori). (pref.) 1 1 0 — Well. Invest., T. & A. 0 10 n —— Well. Trust and Loan I 1 0 7 7 0 GAS— Auckland (paid) 1 3 i — Ditto (contrib.) — 0 18 4 Christchurch 1 6 7 1 7 3 Ditto (contrib.) 0 12 7 — Napier (£10) 10 6 — Wellington (ord.) .... 1 10 0 1 11 6 INSURANCE— National — 0 1(5 3 Queensland __ 3 3 G South British ! 3 4 G —— MEAT PRESERVING— Gear 2 4 6 — 9 N.Z. Refrlger.lt. (£1) — 0 19 Ditto (10s.) —— 0 9 o TRANSPORT— Huddart-Parker (ord.) 2 8 0 2 8 9 Ditto (pref.) 1 1 0 — WOOLLEN— Mosgiel 7 3 0 — COAL— Westport — 1 10 0 TIMBER— Lefland-O'Brien ..... 1 11 3 — BREWERIES— New Zealand — 2 17 6 Staples and Co — 0 MISCELLANEOUS— , British Tobacco (Aust.) (ord.) o u 0 2 c> 3 Burns, Philp, and Co. (South Sea) 1 10 0 — Electrolytic Zinc (ord.) 1 15 0 1 16 0 Ditto (pret.) — 1 17 0 Howard Smith (ord.) 1 4 7 — National Electric .... —— 0 12 G N.Z. Paper Mills .... — 0 17 0 Well. Queen’s Theatre 1 3 0 — Wilson's Cement .... 1 0 2 2 0 Gasco Bricks 1 5 9 —— MINING— Mount Lyell 1 19 3 2 0 0

d. d. 64's .. 47 £ .. 46 60’s 45 .. 43J 56’s .. 33 .. 33 50’s .. 29i .. 29 46’s .. 24 .. 23 4O’s .. 23} .. 22}