Farm and Commercial Section

Dominion, Volume 22, Issue 73, 19 December 1928, Page 14

Farm and Commercial Section

LATEST REPORTS from ALL CENTRES

AUCTION SALES to-day. Johnsonville fat stock sale. Albert Hotel, 10.30 a.m.—Sale of con-, tents (Doherty Auctioneering. Ltd.) 105 Customhouse Quay, 11 a.m. onle ot sites, Rongotai Terrace (b. G. Nathan). _ , . - 8 Willeston Street, 1.30 p.m.—-Sale ot radio sets (E. Johnston aud to.) 201 Lambton Quay. 10.30 a.m.—bale ot drapery, etc. (E. Johnston and Co.) Johnsonville sale —Iron (W.S. and Co.) 8 Willeston Street, 2 p.m.—bale ot gowns (E. Johnston and Co.) 154 Molesworth Street, 1.30 p.m. Sale of furniture (Ramsey Wilson and Co.) TO-MORROW. 157 Featherston Street. —Sale of properties, 2.30 p.m. (Finch, Webster, and Os win) „ , 8 Willeston Street, 10.30 a.m.—Sale of grand piano (E. Johnston and Co.) Mart, Dannevirke, 1 p.m.-—blue of machinery (P. Roake and bon).

THE PRODUCE MARKETS

DUNEDIN WOOL SALE ANIMATED COMPETITION EXPECTED. Dominion Special Service. Dunedin, December IS. For the first Dunedin wool sale of the season on Friday the offering comprises 22,604 bales, an Increase of 201(S bales compared with Christmas sale last year. The halfbred and crossbred wools make a good showing, and as an unusually large bench of buyers is expected to be present competition will probably be animated. GOOD SORTS FIRM AT SYDNEY By Telegraph.—Press Association. (Rec. December 18, 10.40 p.m.) Sydney, December 18. At the wool sales there was strong competition from Japan, Germany, Yorkshire, and Russia. The market again was firm, except for broad, faulty lines. Comebacks and crossbreds sold well at late rates. Greasy merino sold to 20tl. per lb. There were sold 12,375 bales. BUTTER SHIPMENTS BY NIAGARA Dominion Special Service. Auckland, December 18. The Niagara, which sailed lor Vancouver to-day, carried 27,711 boxes of butter for Canada, Honolulu, and the East. The shipment is about the average for tills time of year, but slightly lower than the last shipment' on the Aorangi a month ago, the amount then being 29,305. The Niagara’s last cargo was 24,750 boxes. Of the Niagara’s present shipment, 22,300 boxes are for Vancouver, 140 for Victoria. 8.C., 2461 for Honolulu, 1150 for Calgary, and 400 for transhipment to Shanghai. Amalgamated Dairies Limited report having received the following market cablegram from their London manager, under date December 15:— "Hutter. —"Anchor,” 18(Js. Unsalted cleared 198 s. Market very firm. All stocks well cleared. Dhnish, 218 s. spot, With f.o.b. quotation now 218 s. Deliveries New Zealand, 1940 tons, stock 3555. Retail Danish advancing Monday (to-day) 2s. Id. New Zealand unchanged. Is. lOd. "Cheese. —Unchanged. Canadilan matured 108 s. to 110 s. Late make 100 s. to 104 s. Retail unchanged.”

AUSTRALIAN BUTTER AMERICAN DUTY INCREASED. (Australian Press Association.), (Rec. December 18, 7.15 p.m.) San Francisco, December 17. ■The United States Customs authorities here have received instructions from Washington to-day, to increase the Australian butter tariff, effective from January 1, equalising the 4Jd. a pound bounty the Australian producers get from their own Government. SHIPMENTS OF LAMB FROM AUSTRALIA The New Zealand Meat Producers’ Board lias rccejygd a. cablegram from. its representative in Australia, advising that 136.590 carcasses of lamb were exported from Australia for the fortnight ended December 7. AUCKLAND PRODUCE MARKET Dominion Special Service. Auckland, December 18. The local grain and produce markets continue fairly active, but with few changes to record. It is rare to find prices as stable as they have been of late. There is, of course, the tendency for potato prices to ease as local crops come on the market more freely. The price of Pukekolic potatoes on trucks has dropped since last report from 13s. 6d. to an average of £ll 10s. to £l2. However, the bulk of the local supplies are still being obtained nearer home and these are being delivered at £l3 per ton ex store. The onion market shows a weakening tendency with increasing quantities of Victorian coming forward and also the near approach of local supplies. There is a tendency for the wheat market to ease and the wholesale price ex store may now be reduced from 7s. 9d. to 75., this slight depression covering several weeks’ transactions. There has been no alteration during the week in either oats or chaff. There are ample supplies of oats both here and in the South. The flax market has firmed up apprecialify during the past few months and millers are now receiving £2B per ton for high fair and £25 10s. for low fair delivered at Auckland, about £3 per ton higher than last year’s opening prices. Wholesale current prices are as follow: Sharps aud bran: Mill prices, sharps, £9 10s. per ton; bran, £3 per ton; merchants quotations, ex store, pollard. £lO us.; bran, £8 10s. Oats: Feed B Gartons, 4s. Bd.; A Gartons, ss. per bushel; clipped Dunns, ss, 9d.; clipped Gartons, ss. 6d.; seed Algerians, (is. Fowl wheat, 7s. Bd. per bushel. Maize, os. Bd. ex store. Barley teed, ss. Oil. per bushel. Cape barley seed, os. Cd. per bushel. Maize meal, 14s. per 1001 b. Barley meal, 13s. per 1001 b. Chaff. G. 8.0.5., £9 10s. per ton, Blenlielm or Canterbury. Potatoes; New season's, Ils. Od. to 12s, per cwt. on trucks, I’ukekohe, or 13s. per cwt. ex store. Onions: Victorian, 17s. (id. per cwt.; Canadian, 22a. (id. to 255. per crate,

CANTERBURY., By Telegraph.—Press Association. Christchurch, December 18. Yesterday being a holiday on account of the anniversary of the province, there is no change to record since the week-end report. However, all classes of seeds retain recent quotations, there being a general feeling that after the holiday resumption of business a good inquiry for autumn sowing will develop. Very small stocks of the principal classes of seeds arc carried over to compete with the new crops, and this encourages hopes of satisfactory prices being available. Milling wheat is offering at ss. Sid. on trucks, but millers for the most part are well stocked up. A good deal of expectant Interest exists in regard to the inauguration of the wheat pool. Fowl wheat is dull at ss. 7d. f.0.b., and a little business has been done. A fair quantity of potatoes has been sold for main crop delivery. Though the rain has done good over a wide area of tlie crop, it is reported that some districts were not so fortunate, as the rain lodged tn the paddocks for three or four days. It Is too early to say what effect su'eh conditions will have on the ultimate yields. The f.0.b., s.i., price ranges up to £5 a ton. The pea crop is the one most likely to he affected by the heavy rain, but possibilities in this respect as yet have not Influenced values. The home inquiry is dead. LIVE STOCK SALE RAETIHI. Dalgety and Co. Ltd. report as follows on their Raetihl sale held on December 14: —A good yarding of cattle was submitted to tlie usual attendance of the public. Prices were fully maintained for well-bred cattle, and most of our yarding changed hands. The following are some of the sales:—Accouht of Morikau Station: Small three-year-old Hereford cross steers, £9 165.: four-year-old ditto, £lO 145,; two-year-old ditto. £5 18s. to £7 17s. On account of other vendors: One-year Jersey cross steer, £3 65.; heifers, £4 Ils.; empty cows. £5 17s,

WELLINGTON STOCK EXCHANGE

YESTERDAY’S BUSINESS AND PRICES

The sales reported at the morning call yesterday were Bank of New South Wales at £5O 10s., and two parcels of Southland Frozen Meat ordinary at 38s. (111. At the afternoon call the sales reported were New Zealand Breweries stock at 255. (hl., and British Tobacco, two parcels, at 455. 3d. There was a fair demand for Government bonds, with buyers of the 4) per cents, at £99 7s. (Jd., and the 51 per. cents, at £lOl 7s. 0d; Except for a bid of 255. (id. for New Zealand Breweries bonds, there was no demand for company or local body debentures. Bank shares were in fair demand. There were bids of £l4 14s. for Bank of Australasia, £8 10s. for English, Scottish and Australian Bank. £7 2s. Oil. for National Bank of New Zealand, £5O 7s. Oil. for Bank of New South Wales, 61s. (id. for Bank of New Zealand, and £l5 10s. for Union Bank. Sellers quoted 30s. lid. for Commercial Bank of Australia, and £9 Ss. Cd. for National Bank of Australasia, £5 paid. New Zealand Insurance shares were firm at 455. Cd., and South British Insurance at 645. Cd. Financial shares were slow. New Zealand Guarantee Corporation preference were wanted at 215.. Wellington Investment at 10s. 9<1., and Wellington Trust and Loan at £7. New Zealand Refrigerating shares (10s. paid) were steady at 9s. Id. Westport Coal were wanted at 295., and Hikurangl Coal preference at Ils. New Zealand Breweries shares were in demand at 555. 10d., and Ward and Co. at 435. There were bids of 31s. 3d. for Leyland-O’Brien Timber, 455. for British Tobacco, 455. 9d. for Burns. Philp and Co., 30s. for Burns, Philp and Co. South Sea. 725. Cd. for New Zealand Drug, 265. for Gasco Bricks, and 395. 3d. cum, dividend for Mount Lyell. Yesterday's buying and selling quotations were as under:—

SALES IN OTHER CENTRES By 'i'ele^rapli.—-Press Association.

Auckland, December 18. SalefL—lnscribed Stock, pef cent., £lOl 12s.- Od. { Commercial Bank of Australia, 3(te. 9d.V National Bank of Australasia (con.), £9 75.; Bank of New Zealand, 61si Cd.; Renown Collieries (pref), 2s Bd.; Auckland Gas, 235. lid.; Auckland Gas (con.), 17s. 7d.; New Zealand Brewerics, 575.; British Tobacco, 405.; MHne ami Choyce (debenture stock), 2Cs.; Taranaki Oil, ss. 5d.; Ohlnemuri, Bs. 3d.; Mount Lyell, 395. 3d. Cliristchurcli, December IS. Sales.—Commercial Bank of Sydney, £2B 2s. 6d.; National Bank of New Zealand (cum div.), £7 25.; New Zealand Government, 54 pet cent. Inscribed, 1933, £lOO lis. Cd ; New Zealand Breweries, 575. (live parcels); Timaru Brewery (cum rights), 18s.; Timaru Brewery (rights), 3s. (two parcels); Beatli and Co. (rights), Os. Id.. Os.; British Tobacco (cum div.), 455. 2d.; MahftkipaWa, Is. 3d. . Sales Reported. —National Bank of Australasia (£5 paid), £9 os. Cd.; Dalgety and Co., £l5 48. Cd. Dnneilin, December 18. Sale.—Auckland Amusement Park. 3s. Sale Reported.—English, Scottish and Australian Bank, £8 Ils.

COMPANY ACTIVITIES

AUSTRALIAN NATIONAL AIRWAYS According to the prospectus of Australian National Airways Ltd., the founders are Squadron-Leader C. E. Kingsford Smith and Flight-Lieutenant C. T P. Ulm. The capital is £200.000 in shares of £1 each, of which 85,000 are offered to the public tor subscription, 12,500 fully paid are to be ilssued to the founders, and 102,500 are to be held in reserve. The object of the company is first to establish and operate a regular mail, passenger, and freight service by air between Melbourne, Albury, Canberra, Svdnov, Newcastle, Lismore, and Brisbane. When this object has been attained there will be an extension to other parts of the Commonwealth and to New Zealand, and then it is proposed to pursue the business of aircraft station operators, to lease’ hangar space to private owners, and later to increase the scope of aircraft maintenance and repair work, so as to equip ultimately the factory for the production of aircraft. Particulars as to the growth of civil aviation in Germany, Great Britain, France, Holland, and Italy are given. The further development of civil aviation in Australia should be encouraged, and with Australia known as the airman s paradise on account of its climatic conditions being better than those of other countries, transport service by the air should grow. The founders take no cash consideration. In addition to the 12.000 fuliv paid shares allotted to them, they have an option for two years to take up nt par another 12.500 shares. The directors arfc Messrs. F. TI. Stewart, M. C. Reid, and the two founders. E. S. & A. BANK DEFERRED STOCK ’O5 The English, Scottish, and Australian Bank has decided to pay off the outstanding balance of the deferred inscribed stock. Under the articles of association, the bank is required to apply a portion of each year’s profit to the purpose ot purchasing deferred stock in the open market, or redeeming at par. In this way, the amount outstanding had been reduced to £158.000 at June.3o, 192 i, and the directors decided to divert £98,438 from the year’s profit to the purchase of deferred stock. This year £59.500 is to be devoted to the purchase of the remaining deferred deposits, and payment at par will be made on January 1 next. Since 1900 the deferred stock has borne interest at the rate of 4} per cent. The bank hns now outstanding £083.547 of 4 per cent, debenture stock, and £859,419 of 3 per cent preferred inscribed stock. 11m former is terminable nt the bank’s option, but the preferred stock is perpetual.

EGGS AND EGG PULP COLD STORAGE SUPPLIES The results of the collection of information as to the quantity of eggs and egg pulp in cold storage up to November were made available to-day. lhe returns

FOREIGN ITEMS THE WHEAT MARKETS. (Australian Press Assn Pnlted Service.) (Rec. December IS,’ 5.5 p.m.) London, December 17. Wheat.—For cargoes. Remand is quiet, mostly on a lower scale. Parcels are in poor demand at a decline of 3d. per quarter Liverpool futures: December, Bs. 11 3-8(1. per cental; March, os. IJd.; May, 9s. 21d.; July, 9s. 3 5-Sd. Chicago, December 17. Wheat futures: December. 1 dollar 16 cents per bushel; March, 1 dollar 181 cents ; May, 1 dollar 21J cents. DEMAND FOR NEW ZEALAND HONEY IN EUROPE. (Australian Press Assn. —United Service.) London, December 17. New Zealand honey is steadily winning North European markets, despite the tariffs raised against it, up to sd. per pound. It now constitutes 90 per cent, of the honey imports o£ Denmark, and is practically the only honey eaten In Iceland.

Buyers. Sellers. N.Z. GOVT. LOANS— £ s. d. £ s. d. 41 p.c. Insc. Stock, 1939 —— 99 12 6 4J p.c. ditto. 1938 ... — 99 12 G 5* p.c. ditto, 1933 ... — 101 5 0 5j p.c, ditto, 193(1 ... 01 0 0 — 41 p.c. Bonds, 1938, 1939, and 1941 ... 99 7 6 — 51 p.c. ditto, 1933 ... — 101 10 0 5j p.c. ditto. 1933 ... .01 7 6 DEBENTURES— N.Z. Breweries (bonds) 15 6 — BANKS— Australasia 14 14 0 — Commercial of Aust. (ord.) — 1 10 11 English, Scottish, and 8 10 0 National of N.Z 7 2 6 7 5 0 National of Australasia (£5) ■ ■ - 9 8 0 New South Wales ... 50 7 6 New Zealand ; 3 16 3 2 0 Union of Aust 15 10 0 — FINANCIAL— N.Z. Guarantee Corp. 0 8 7 Ditto (pref.) 110 Well. Invest., T. & A. 0 10 9 — Well. Tttist and Loan 7 0 0 —— INSURANCE— : 0 10 3 2 5 6 South British 3 4 6 MEAT PRESERVING2 4 0 N.Z. Refrigerat. (10s.) 0 9 1 0 9 5 TRANSPORT— Huddart-Parltet. (ord.) — 2 8 6 COAL— 19 0 1 10 0 Hikurangl (pfef.) ... 0 11 0 TIMBElt— Leyland-O’Brien 1 11 3 — National —— 0 10 J BREWERIES— New Zealand 2 15 10 2 17 G Ward and Co 2 3 0 2 4 0 MISCELLANEOUS— British Tobacco (Aust.) (ord.) 2 5 0 2 5 G Burns, Philp, and Co. 2 5 9 —— Ditto (South Sea) .. 1 10 0 — Colonial Sugar —— 59 7 li National Electric .... — 0 12 6 N.Z. Drug Co 3 12 6 — N.Z. Paper Mills .... —— 0 17 0 Sharland and Co. 1 10 0 Wilson’s Cement —; 2 2 0 16 0 ■ MINING— Mount Lyell 1 19 3 —

ate as under: — North South Dominion. Island. Island Eggs shell 13.0.10 30.199 49,220 Egg-pulp (lbs.) . 610,902 ‘ 340,549 951,541 Frozen whites 42 1,200 1,302 Egg-yolk (lbs.) . . — For the previous month 940 949 (October), the retufns Were: — Nofth South Dorninisland. Island ion. Eggs in shell 9.173 24.18!) 33*362 Egg-pulp (lbs.) . 554,100 280,989 845,149 Frozen whites (lbs )' .... 442 1.200 1,702 Egg-yolk (lbs.) 1,200 1,200 CUSTOMS KEVE XUE. revenue collected at. the port of Wellington yesterday totalled £18, 827.