Farm and Commercial Section

Dominion, Volume 22, Issue 93, 14 January 1929, Page 12

Farm and Commercial Section

LATEST REPORTS from ALL CENTRES

AUCTION SALES

TO-DAY. 118 Hain Road. Lower Hutt, 1.30 p.m. — Sale of shop fittings (Silverstone and Co.) S Willeston Street, 1.30 p.m.—Sale of furniture (E. Johnston and Co.) 21 Tama Street, Lower Hutt, 1.30 p.m. —Sale of furniture, etc. (C. W. Price and Co.) TO-MORROW. Feilding stud sheep fair. Panama Street, 2.30 p.m.—Sale of property, 45 Thompson Street (Harcourt). 77 Courtenay Place, 10.30 a.m. —Sale ot stock (Johnston). Levin stock sale. THE PRODUCE MARKETS FROZEN MEAT LONDON QUOTATIONS. (Australian Press Assn.—United Service.) (itec. January 13, 3.5 p.m.) London, January 12. Sheep. New Zealand ewes, sjd. per lb. New Zealand ewes, sd. per lb. Lambs. Canterbury seconds, Sd. Other selecteds, new seasons, lid. Australian seconds, other States, Sd., thirds 7 5-Sd. Argentine firsts, medium 8 3-Bd., seconds 7Jd. Chilled Beef. Argentine, fores 4Jd., hinds GJd. Other meats are unchanged. SMITHFIELD PIHCES. The New Zealand Meat Producers’ Board has received the following cable from its London office, dated January 11, advising Smithfield delivered prices averaged for week ending that date as follow. (Prices for the two previous weeks are shown in parentheses) . New Zealand wethers and maidens: Canterbury quality, selected brands. 56/under, 7d.; (7d„ C 7-Bd.) ; 57/G4, GJd.; (GJd., Gid.)) G5/72, GJd. (GJd., Gid.). Other brands: 50/under, GJd- (GJd., GW-); 57/6J, GJd. (Gid., Gfd.) ; 05/72, 0 1-8(1. (G 1-Sd„ Cd.). New Zealand ewes: Gl/under, sfd. (5 1-Sd., 4 7-Bd.). New Zealand lambs: Canterbury quality (old seas.), ilti/uud., GJd: (9Jd., GJd.), 9-Jd.; 37/42, GJd. (bld., Did.); 43/50, not quoted; seconds, Bd. (7 7-Bd., 7 5-Bd.). Selected brands (new season), 3G/under, lid.; 37/42, lid. Other brands (Ist. quality, old season), 3G/under, not quoted: 37/42, not quoted ; 2nd. quality 30/32, average, 7 5-Bd. (7 5-Bd., 7 3-Sd.). Australian Lambs: Victorian, first quality> 3G/untler, 9d. (9d., (hl.) ; 37/42, 9 18d. (9 l-8d„ od.). ' Argentine Lambs: First quality. 30/utifler, BJd. (Sid., Sd.); 37/42, 8 3-Bd. (BJd., Sd.). ■

New Zealand Beef: Ox fores, not quoted. Ox hinds, oil. (oil., 3d.) ; cow fores. 3Jd. (3Jd., 31d.); cow hliids, 4Jd. (4Jil., 41d.). Argentine Chilled Beef: Ox fores. 4}d. ((4 3-Bd., 4 1-Sd.); Ox hinds, o}d. (Cd.. 6 1-Sd). New 'Zealand Frozen Pork: Porkers, CO/SOlbs., 71d. (7d., 7d.); 81/!)f)lbs., 7d. (Gid.. Gid.): 100/1201b5.. 7(1. (GJd., 6.R1.). Baconers, 121/1801bs., 7d. (7d., 7d.1. Lamb Market: There is a slow demand fol- new season's lamb owing to lower competitive price, Australian anil South American lamb, and also to good supplies Homo-killed. ■ Mutton Market: Lightweight wethers and ewes firmer. Beef Market: Fair trade despite low prices Argentine chilled beef. New Zealand Porker Pigs: Better prices with good consumptive demand.

Messrs. Levin aud Co., Ltd. have, received the following cable message from their London ugelits, dated January 11:— “Frozen meat quotations (prices on a ‘delivered’ basis, i.e.i including storage charges. cartage, tolls, etc.): —Down lamb, 28/42, lid. per lb.; best North Island, 28/42, 102 d. per lb.: ordinary North Island, 28/42, none offering; second quality itinib, lioiie offering; best North Island wethers. 48/64, 7d. per lb.: do., 64/72, G)d. per lb.: ordinary dbA 48/64,'GJd.; North Island ewes, 48/64. SRI. per lb; do.. 64/72, 4Jd.; New Zealand prime ox beef, 160/220, 4 5-Bd. per lb. “Down lambs are -Id. per lb. dearer than when last. quoted, which was. in September. 1928. Best N’ortli Island lamb is lid. per lb. higher than last week's quotations, while best North Island wethers, 4S/G'4's nml North Island ewes, both 48/61's and 61/72's are 1-8(1. per lb. dearer. The market for new season’s lamb is quiet, with a weakening tendency.”

BUTTER AND CHEESE Messrs. M. A. Eliott, Limited, Palmerston North, have received the following cabled advice from their London agents: “Butter: Steady, 1845., 186 s. Cheese: Improved demand at close. 935., 955., white; !)ss„ 975., coloured.” DAIRY BOARD’S REPORT. The New Zealand Dairy Produce Board has received the following market report from its London office, dated January 11: Butter. New Zealand, salted (11//1/29), 184 s. to ISSs.; last week, 182 s, to 1845.; unsalted, 191 s. to 1965.; last week, 1945. to 198 d.; Ist. whey, 1845.; last week, 1785.; 2nd. whey, 1765.; last week, 17(’s. Australian: Finest salted, 184 s. to 1865.; unsalted, 184 s. to 100 s.; last week, 180 s. to 1825.; 182 s. to 186 s. Argentine: Finest unsalted, 178 s. to 182 s. Last week, 1765. to 182 s. Danish: 1895., f.o-.b.. 1925. to 1965.. spot. Last week, 185 s. to 1955. Dutch: Unsalted,' 200 s. to 2025. Last week, 2OSs. , Siberian, 180 s., —. Market steady. New Zealand retail price unchanged, is. 10d.; Danish retail price reduced to. Is. lid.

Cheese. New Zealand: White, 935. to 955.; last week, 955. to 905.; coloured, 955. to 975.; last .week, 98s. to 995. Deliveries in New Zealand this week, 39,000 erates, in store in New. Zealand this week, 43,000 crates. Canadian; White, 108 s. to Illis.; last ■week, 108 s. to 1125.; coloured, 106 s. to 110 s.; last week, 106 s. to 110 s. Australian: White’ and coloured, 935. to 955.; last week,..9os. English: Finest farmers’. 1425. to 1445.: last week, 1425. to 1445. .Market improved after quiet week, Retail prices unchanged. Port Darwin commenced discharge cheese, .Tannery 4; butter, January 5; completed January 7. liimut'aka commenced discharge cheese, January 5, finished January 9; butter, January 7. Mataroa commenced discharge cheese, January 7, finished January 9. TREND OF PRICES UPWARDS. Messrs. A. H. Turnbull ■ and Co. report as follow regarding the London dairy market on January 10:— Tiie following are the top London quotations for the past six weeks: — Dec. Dec. Dec. Dec. Dec. Jan. Jan.

Cabled prices show a steady advance in values, to-day's quotation being 180 s. to 188 s. with firm market. Messrs. W. Weddel and Co., Ltd., cable that the rapid decline in Australian gradings owing to dry weather resulted in heavy inter-State buying and almost eliminating the export trade. Further, the declared stocks in Loudon on January 1 are extremely light, resulting in a further buying wave in New Zealand. Sales have resulted during the present week at Is. (id. f.o.b. for prompt January shipment, Is. 5Jd. for January and February, and Is. old. for January, February and March. Present prospects are good and an advancing market in London may be expected. Gradings are appended and show that the rate of increase during the first half of the season has not been maintained during December, butter being on. a par with December of last year. Cheese—The market in London continued firm until the end of December, and further f.o.b. sales were made for the second half of the season’s make, prices ranging from 9d. to 9 1-16(1. Colder weather experienced in the United Kingdom curtailed. consumption,. resulting in a weakening in spot prices and the withdrawal of forward buyers from the New Zealand market meantime. Following is a comparative table showing in tons the gradings of butter and

The Anglo-Continental Produce Co., Ltd., of London, under date November ’2l, 192 S reports as follow:: —

Since.our last report markets have quietly but steadily advanced, Denmark getting up to 198 s. f.o.b. The consumption of butter over the whole of Europe is good, l>ut we do not think the market can stand much further advance without curtailing this consumption considerably. Ou the other band, stocks in all European countries are less than they were last year, and we cannot see prices, coming much easier until we at all. events get Into January. There have been fairly good shipments from Great Britain to France and other European countries, chiefly unsalted Argentine. This market is very slow, and the chief demand at. the. moment is for well-matured Canadian or well-matured New .Zealand cheese. Buyers are fighting shy of the hew season’s New Zealand cheese Until: they show, 'more fat', the early arrivals being very lean in texture. ■ Current quotations are: — Butter. —Danish, 1945. f.0.b.; New Zealand, J 765. to 180 s.; Australian, 170 s. to 1745.; Siberian, 1665. to 168 s. Cheese.—New Zealand, white, 104 s. to 1055.; coloured, 102 s. to 103 s.

WELLINGTON STOCK EXCHANGE

LAST WEEK'S BUSINESS AND PRICES Business was resumed on the Stock Bxchauges on Monday last, and the number of transactions for the first week was unusually large. The market shows a vei’y linn tone, and prices generally disclose an upwhrd tendency. Thei-b is every promise that there will be considerable activity on the Stock Exchanges during the next few months, . for Stock Exchange securities seem to be very popular witli investors. There was a good turnover in bonds and debentures, some of tiie local bodies’ debentures receiving attention. . Government 4} per cents, sold freely at £99 10s. and more could be pluced at the price. Government 6 per cents. (1931) changed hands at £lOl. Business was done in Auckland City, 53 per cents. (1940) at £9B, Auckland Harbour Board, 54 per cents. (1939), at £97 10s„ Wellington Harbour Board, 54 per cents. (19-10), at £99 10s., and Christchurch Trahlway Board, 5) per cents. (1934), at £lOO. New Zealand Breweries bonds sold at 255. Od. and 255. (Id., and Milne and Choyce debentures at 265. and 265. 2d.

Bank shares were very active, particularly Commercial Bank ot Australia, 20 parcels of which changed hands at 30s. 9d. A new issue of shares by this bank is pending Which accounts for the keen demand. Union Bank shares sold at £l5 145., £l5 15s. and £l5 ICs., and a parcel on the Melbourne Register was quitted at £l5 175.; Bank of New South Wales shares changed hands at £5O 155., Australian Bank of Commerce at 345., National Bank of Australasia. £5 paid, at £9 95., English, Scottish and Australian Bank at £8 125., Bank of New Zealand at (51s. lid. and 625., and National Bank of New Zealand at £7 3s. and £7 4s. There was a good demand for Bank of Australasia shares, but the bids were not high enough to induce business. Insurance shares were very firm, but there was only a moderate business passing. There were sales of New Zealand Insurance at 475.. 40s. 9d. and -17 s. 3d.. Sou til Britisli at 645. 3d. and 645. 7d., an d United Insurance at £ll 4s. G<l- This is the first time the latter shares have been sold iu the Dominion. Financial shares were not quite'so active as some of the other groups, although no weakening tendency was shown. Dalgety and Co.’s shares sold at £lu os.. Goidsbrough, Mort and Co. at 51s. nd., New Zealand Loan and Mercantile ordinary stocks at £llB. and United Building ht‘ 16s. sd. and l(is. (id. . New Zealand Breweries shares received very strong support from Investors and all' parcels criming on the “arket readllv snapped up, business being active ■in nil’centres. In all 39 parcels changed hands at. 585., 58s. 3d. and 58s. 6d.; Staples and Co. sold at 425. and were also stronglj supported. Tooth’s (Sydney) Breycrj shares changed hands at oos., and liman Brewery rights- to new issue sold at 3s. 5(1. • i In the miscellaneous section British Tobacco shares were prominent, seiniL freelv at 455. 3d., 455. 4(1., 4,is. ad. anil 4.>s. (Id. Other sales were Colonial Sugar at £59 155.. Hayward’s Pictures at 20s. .id., Farmers'. Trading Co. al Ss. 3d.. New A‘iiland Farmers' Co-op. B preference at alts.. Electrolytic Zinc at 365. Gd„ Wbittoine, Stevenson and Co. at 425. (Id., _ Holden s Motor I’.odV Builders at. .305., Wilsons Cement al 41s. (id., and Beath and Co. rights to new issue, 6s. 3d., 6s. od., 6s. bd., os. 10s 7s , 7s. 2d.. 7s. 3d. and 7s. 4d. Occasional sales were made in other -roups, but. there was nothing outstanding New Zealand Refrigerating shares 20s. paid sold at 19s. and 10s. paid at 9s. (>d. and 9s. sd. Iluddart Parker shares changed hands at 4Ss„ P. and O. Deferred Stock at 59s and 60s...Auckland Gas at 245. 3d. and 245. tit., mid Renown Collieries ordinary at 15s 3d. and 15s. Oil., mid preference at 2s Sd. At. the call on Saturday sales were reported of 4} per cent. Government Bonds (1930) at CPU 10s., mid Commercial Bunk of Australia at 31s. The buying mid sell-

1 s. 8 s. 13 s. S. 29 S. s. 10 s. Danish butter 199 204 218 212 200 195 N.Z.— L’risalted 198 198 198 198 198. 198 Salted . 178 180 180 180 180 184 188 Cheese— White . 102 98 98 98 97 90 Coloured 102 98 100 100 100 99

cheese: — 1926 1927 1928 Butter graded during December 11,650 12,000 12,680 Butler graded five months to Doe . 31 35,700 41,488 43,093 Butter in store at December 31 . 10,750 7,250 5,bb3 Cheese graded Decembcr >.... 12,850 12,532 13,271 Cheese graded live months to Dec . 31 33,800 35,109 39,601 Cheese in store at December 31 ... 10,050 9,050 7,498

ing quotations were as under:— Buyers, Sellers. N.Z. GOVT. LOANS- £ ■•. d. £ s d. 44 p.e. Inse. Stk„ 1038 99 7 (J —- 51 p.e. Inse. Stk., 11)33 lot) 17 II 101 7 0 Oil to, 103(1 101 0 0 101 10 0 II p.e. Inse. Stic.. 1931 100 15 0 — U p.e. iiolnls., 103!) .. till 10 0 — -H p.e. Bonds. 1938 .. 99 10-0 — ■ f.i p.e. Bonds. 1930 .. III) 2 15 —— 51 p.e dil to, 1933. .. . • — 101 1!) 0 5j p.e. ditto, mi ... 101 5 U —

DEBENTURES— Wellington Gas Co. .. Wellington Racing Chib . Auckland Gas C debentures • ■. Well. City 5J p.e. 1937 Well. Harbour Board, 54 p.c., 1910 100 5 0 — 106 10 0 102 10 0 90 10 0 99 10 0 BANKS— Australasia 14 14 0 — ■ Aust. Bank of Commerce 1 13 9 Commercial of Aust. .. 1 10 10 1 11 1 Commercial Banking Co., Sydney National of N.Z 28 17 6 7 3 0 ■ _— National of Australasia ' (£10) 18 17 6 — Ditto (£5) 9 8 6 — New South Wales 51 0 0 Now Zealand 3 19 —- Ditto, long-term mortg . — 18 8 FINANCIAL— Goldsbrough, Mort and Co 2 11 3 Equitable Bldg. Soc... 8 It) 9 — National Mortgage ... 6 5 0 — N.Z. Guarantee Corp, (ord.) 0 8 6 0 8 7 Ditto (pref.) 110 — N.Z. and River Plato 1 12 0 — Wellington Trust and Loan 7 0 0 • Wellington Deposit and Mortg 0 10 0 — GAS— Christchureh 15 9 -• Napier (£10) 10 5 0 — Wellington (ord.) .... 1 10 3 1 11 3 INSURANCE— National 0 16 0 0 16 5 New Zealand ........ 2 7 0 —- Aust. Prov. Assce..;.. 0 6 3 —- MEAT PRESERVING— Gear Meat 2 3 0 N.Z. Refrlgerat. (10s.) — 0 8 6 TRANSPORT— lluddart Parker (ord.) 2 8 11 2 9 6 Ditto (pref.) 110 — WOOLLEN— Wellington (ord.) 7 0 0 7 10 0 Ditto (pref.) ........ 7 0 0 .—. COAL— Westport- ... — 1 10 3 TIMBER— Leyland O’Drlen ..... 1 12 0 1 14 0 National ............ — 0 10 6 BREWERIES— Now Zealand 2 18 0 3 0 0 Ward and Co 2 4 0 — MISCELLANEOUS— British Tobacco (Aus.) (ord.) 2 5 0 25 9 Burns, Philp, and Co. 2 6 6 — Ditto., South Sea 1 10 0 —- Dental and Medical Supply 0 9 11 .— Electrolytic Zinc (ord.) 1 1« 0 —- Ditto (pref.) 1 1(5 9 11. 0 Howard Smith (ord.) 1 4 6 15 3 Newton King ■ (pref.) 0 8 4 —- N.Z. Drug Co 3 13 0 — N Z. Paper Mills ; —— 0 17 7 Well. Queen’s . Theatre Wilson’s Cement 1 3 0 —— 2 13 M — ■— Gasco Bricks ........ Australian Iron and steel (pref.) 17 0 — 10 3 .MINING— Lyell ......... 2.1 6 r- 1 Wnilil — 0 15 0