Farm and Commercial Section

Dominion, Volume 22, Issue 136, 5 March 1929, Page 14

Farm and Commercial Section

LATEST REPORTS from ALL CENTRES

AUCTION SALES TO-DAY. Marton, 3 p.m.—Sale iff property, account estate M. and S. Gibbons (A. and W., Ltd.) Johnsonville fat stock sale. Pahiatua Supplementary Ewe Eair. • 12 Manners Street, 10.30 a.m.—Sale of pawnbrokers’ pledges (Doherty Auctioneering, Ltd.) 11 Evelyn Place, 10.30 a.m.—Sale of furniture (0. W. Price and Co.) 47a Aro Street, 1.30 p.m.—Sale of furniture (Ramsey Wilson and Co.) 1 TO-MORROW. 105 Customhouse Quay, 11 a.m.—Sale of property, Victoria Street (S. G. 'Nathan). Brandon Street, 2.30 p.m.—Sale of property, Station Road, Ngaio (J. H. Bethune). Palmerston North Showgrounds, 1 p.m. —Sale of stock, account estate J. Wingate (Dalgety and Co.) Upper Hutt, 11 a.m.—Sale of Bloomfield Fresian stud (Dalgety). 246 Lambton Quay.—Sale of art and antique goods (McKenna’s). Hansford and Mills’ Yards, 10.30 a.m. Sale D.I.C. fixtures (Silverstone and Co.) S Willeston Street, 1 p.m.—Sale ot kodak salvage (E. Johnston and Co.) S Willeston Street, 1 p.m.—Sale of pianos (E. Johnston and Co.)

THE PRODUCE MARKETS

HIGH COMMISSIONER’S CABLED REPORT The Department of Agriculture has received the following cablegram, dated March 2, from the High Commissioner for New Zealand, London: — Tallow. Spot market steady and business is fair for shipment. Present quotations for spot are;—Mutton: Fine, 445. Gd. to 455. per cwt.; fair to good, 41s. 6d. to 445.; dark to dull, 38s. to 30s. Beef: Sweet and/or mixed, 425. 6d. to 445.; fair to good, 395. Gd. to 425. Gd.: dark to dull, 38s; to 38s. Gd. Mixed: Fair to good, 395. 3d. to 425.; dark to dull, 375. Gd. to 38s. Gd. Gut, etc., 365. to 38s. Hemp. Manila market firm early this week, but closes below best with sellers more in evidence. J grade for March-May shipment now quoted at £3G os. Sisal: Quotations firm but business small. Sellers ask £4l us. for No.. 1, and £39 ss. for No. 2. Buyers’ ideas about 15s. less in each case. New Zealand: Market continues quiet. No pressure from sellers, but buyers holding back, and no first-hand business reported. By comparison with other sorts, c.i.f. nominal values are: Highpoints, £33 10s. to £34: fair, £32; common, £29 155.; rejected, £2B 155.: tow, second grade, £2l 10s.; third grade, £lB. February-April and March-May shipments. Danish Cocksfoot. Market very quiet and prices easier. Present value, 68s. per cwt., c.i.f. New Zealand. Wool. Little more doing in Bradford this week, but users looking to London sales for clear indication of raw material position. Merino tops }d. lower, and others unchanged. Messrs. M. A. Eliott, Limited, report having received the following cabled advice from their London agents:—"Butter: Slow; 168 s. to 1725.; unsalted, 180 s. to 182 s. Cheese: Steady; 88s. to fils.” Messrs. Joseph Nathan and Co., Ltd., have received the following cablegram from Messrs. Trengrouse and Nathan, Ltd., London, dated March I:—New Zealand butter, 108 s. per cwt.; slow. New Zealand cheese. 88s. to 80s. per cwt. The Bank of New Zealand produce department has received the following advice from its London office as at close of business last week:— J Butter.—Dull, 168 s. to 170 s. per cwt. Cheese.—Quiet, 88s. to 90s. per cwt. Frozen Meat.—lt is thought prices for wether mutton will remain steady at last quotations. The market Tor ewes is steady. The market for lambs is weaker owing to holders forcing sales. Beef is in short supply and prices are nominal. Wethers, light, Gd. to 7}d. per lb.; wethers, heavy, 4}d. to s}d.; ewes, 4)d. to 5-Jd.: lambs, 2’s, fid. to 9Jd.; lambs, B’s, fid. to fifd.; lambs, 4's, 8?d. to fid.; lambs, seconds, B}d. to fid.; ox hinds, 4}<l. to 4Jd.; ox fores, 4d. to 4jd.; cow hinds, 4d. to 4jd..; cow fores, 3Jd. to 4d.

EGG-LAYIN& MASTERTON COMPETITION. Masterton, March 2. Following are the results of the egglaying competition being staged by the Masterton Poultry Club, for the fortyeighth week, ended to-day :-rSINGLE.

DAIRY PRODUCE TRADE STOCKS IN UNITED KINGDOM With the dairy produce export season at its pdak, large shipments being on the water and equally large shipments loading at the present time, the position of stocks of butter and cheese in the United Kingdom is of considerable interest to the industry in the Dominion. Yesterday morning the Dairy Produce Board received a cable message from its London office stating that the estimated stocks of all butter held in public wool stores in Britain as at February 28 were 43(10 tons compared with 5841 tons on the same date last year. The stocks of cheese held in London, Liverpool and Bristol on March 1 were: Canadian, 96,200 boxes, compared with 41,500 on the same date last year; New Zealand and Australian, 132,000 crates, as against 51,450 crates on March 1, 1925. Thus while the butter position is sound, stocks being nearly 1500 tons less than last year on February 28, the stocks of cheese in the United Kingdom on March 1 were about 2} times greater than a year ago The Canadian box is equal in weight to about half a New Zealand crate. As the last report from the United States indicated that stocks were much heavier than usual, it would appear that Canada has been shipping heavily to Britain, including much that usually goes into consumption in the United States. LIVE STOCK SALES RANGITUMAU CLEARING SALE Masterton, March 1. The Farmers' Co-op. Distributing Company and Wright, Stephenson and Co., Ltd, report having held in conjunction a complete clearing sale on behalf of Messrs. Blatchford Bros., Rangituman, near Masterton. This sale, which was a very Important one, comprising stud Romney sheep, Clydesdale-horses, dairy and station cattle, and a wide range of all farm implements and sundries, attracted a large number of buyers from all parts of the Wairarapa and West Coast. Taranaki and Hawke’s Bay districts were also represented The Clydesdale horses, which are well-known in the Wairarapa, caused a considerable amount of interest and before they were offered by auction they were all paraded in front of those present. The auctioneers consider that they were one of the best lots of heavy horses ever put up by auction at a sale held in this dis trict They made good prices, the top being 72gns. fox a four-year Clydesdale mare. The implements were all in good 'working order and met with a ready sale. Stud and stock sheep were offered in the afternoon and made money well up to. expectations. The studs were drafted into lots'five and ten and some of the choicest stud rain lambs and older stud rams were referred singly. A large number of stud ewes were bought by outside buyers, but local breeders, who were well represented, took some of the highest priced pens. Following is a range of the Prices :--64 1-shear stud Romney ewes, average 3fgns., top price 7gns.; 55 2-shear stud Romney ewes, average 3 l-3gns., top price 52 3'Shear stud Romney ewes, average 4 1-3 gns., top price B*gns.; 40 4-shear stud Romney ewes, average 4Jgns., top price Bgns., 35 5-shear stud Romney ewes, average 4j

cns top price 7Jgns.; stud Romney rams, &, llg?s., 20gns., 21gns 33gns 30gns 53gns.; stud ram lambs, Bgns„ gns 12gns., 13gns., 17gns., 21gns., 2ugns.. to 26gnf ; 126 flock ram lambs averaged 4gns., 95 Romney ewe lambs averaged 2?ns. Flock sheep: 101 2-tooth ewes £2 0s iTki ♦ rr 4 and 5-vear ewes, -us. ou., m a.’ewes, 28s 3<L: 130 5-year ewes, 225. 9d.; 72 ewe lambs, 335.; 158 b.f. Ifimbs, los. 6d Cattle.—2 and 3-year P.A. steers, £lO I’s ’ vear P.A. steers, £7 7s. 6d., ditto, P i’ heifers £6; 2-year P.A. heifers, £7 1-8 6d ;‘cows aid calves £l2 18s.; 2-year Jersey heifers, £11; 13 dairy cows £7 to £l3; fat cows, £9; Jersey bull, £l2 10s. Horses. —4-year registered Clydesdale mare, £72; 3-year ditto £3 ? I : .r; ye Y.w‘. tt g’ £25; unregistered aged gelding, £-8, a year geldings, £35, £4O; 4-year gelding, £3O; aged marc, £54; aged mare, £-3 10s, ’-vear fillv, £27 10s.; 2-year gelding, £24; ponies, £ll, £l3, £l4 105., £l6 10s.; cobs, £l4, £lB. \ FEILDING.*.

Messrs. Abraham and Williams, Ltd., report:—At the Feilding sale on h riday there was a large entry of all classes of store sheep and a fair yarding of cattle. Sheep prices were a little easier than those ruling at the fair on February 22 but most of our entry changed hands. Cattle were on a par with late rates. they quote;—Sheep; Fat wethers, 275., fat ewes, 18s. fid., 21s. 6d.; fat lambs, 19s. Bd., ’4s Gd. 285.; two-tooth ewes, 335. 10d., 355 4d„ 30s. (id., 375„ 375. 2d. to 3Ss. Gd.; four and five-year ewes, 255. 3d., 265., 265. Id 265. 7d., 275„ 28s. 10(1., 295. 6(1. to 325. 10d.; five-year ewes. 215.. 225. Gd., 205.; aged ewes. 15s„ 17s„ 19s. 7d.; rape lambs, 18s 2d.; wether lambs, 14s. ad.. 16s. Bd., store lambs, 14s. fid., 155.; Southdown Jams, 7gns„ Bgns„ Signs., to lOgns.; Romney rams, ligns. to -}gns. Cattle: lat bullocks, £l3: fat cows, £7, £7 7s. 6(1., £B, £8 10s„ £8 las.; light fat cows, £a 155., £0 7s. Gd., £G 10s.; fat heifers, £9 17s Gd.: store cows, £3 2s. Gd., £3 Bs. Gd., £3 10s.. £4, £4 10s., £4 12s. Gd. to £u; heifers, r.w.b., £4 to £4 10s.; weaner heifers, £2 10s„ £3, £3 175., £4 4s„ £4 95.; springing heifers, £8 lus., _L9; cows in milk, £3 10s., £4 2s. Gd., £;> 17s. 6d._, £6 10s, to £7 Lis.; bulls, £4 £4 us.. £•> 10s., £/ <ss„ £7 IbJ.. to £8 las.; yearling steers, £3, Messrs. Dalgety and Co., Ltd.,' report having a large entry of sheep and a moderate ■yarding of cattle at their Feilding sale on Friday, March 1. There was very keen competition for tlie better class of ewes but lambs were dull of sale at lower prices than those previously ruling. Quotations: Fat lambs. 21s. Gd. to 225. fid.; tat ewes. 20s. Gd., 20s. Bd.; small b.f. lambs, I’s to 145.; b.f. shorn lambs, IGs., 17s. 3d., 17s'. Bd. to ISs. Id.; b.f. woolly lambs, 17s. 4d 17s. 9(1. to 20s. 3d.; aged ewes»'l2s. to 14s Gd.; five-year ewes, 215., 21s. 3d. to ’’s' 3(1.; four and five-year ewes, 255. 2d.; small two ami four-tooth evyes, 295.: twotooth ewes, 32's. 4d., 325. 10d. to 395. Gd.; small weaner heifers, £2 155.; forward cows. £5 12s. (id.; fat cows, £7 7s. Gd. to S New Zealand Loan and Mercantile A”ency Co., Ltd., report:—A heavy yardiir- ot sheep came forward for the weekly sale at Feilding on Friday. It was generally anticipated before the sale that ewes would show a sharp decline on late rates in sympathy with tlie fat and wool prices. Such was not the case. Lincs of good ewes with clean mouths sold readily at prices approximately on a par with tlie ewe fair. Aged and broken mouth ewes were neglected. A considerable portion of the yarding consisted of lambs, and althougli a total clearance was effected under the hammer prices were considerably easier. Store cattle were hard to quit and the beef market also was easier. ’ we lq 2pa

fat lambs, 19s. to 285.; fat wethers, 275.; fat cows, £5 10s. to £8 155.; fat heifers, £9 17s. Gd.; fat bullocks, £l3; 4 and 5year ewes, 245. Id. to 2Ss. lOd.; 4-tooth ewes, 30s. to 30s. 10d.; 2-tootli ewes, 335. lOd to 355. Gd.; 6-tooth to 4-year ewes, 325. lOd.; f.f.m. ewes, 295. Gd.; ewe lambs, 225. 4d.; wether lambs, 14s. sd. to 16s. Gd.; cull ewes, Gs. Sd. to 19s. 3d. Messrs. Dalgety and Co. report There was a large entry of sheep and a moderate varding of cattle at the Feilding sale on Friday. There was very keen competition for the better class of ewes, but lambs were dull of sale at lower prices than those previously ruling. Quotations: —Fat lambs, 21s. Gd. to 225. fat ewes, 20s. Gd. to 20s. Bd.; small b.f. lambs, 12s. to 145.; b.f. shorn lambs, 16s. to 18s. Id.; b.f. woolly lambs, 17s. 4d. to 20s. 3d.; aged ewes, 12s. to 145.. Gd.; 5-year ewes, 21s. to 225. 3d.; 4 and 5-year ewes, 255. 2d.; small 2 and 4tooth ewes, 295.; 2-tooth ewes. 325. id. to 395. Gd.; small weaner heifers, £2 155.; forward cows, £5 12s. 6d.; fat cows, £7 7s. Gd. to £9 10s. CARTERTON. The W.F.C.A. report having held their Carterton sale on Friday, when they offered a full yarding of both sheep and cattle to a good attendance of the public. There was steady competition right throughout the sale, and practically every line changed hands at the following pricesOn account J. McKenzie, 21 good two-tooth ewes, 385.; other vendors: 3U two-tootli ewes, 30s. Gd.; 30 m.a. ewes, 245. 7d. ‘ 44 m.a. ewes, 285.; 75 s.m. ewes, 205.; 24 ditto, 17s. *-d.; ob ditto, 19s. 5(1.; 25 five-year ewes, 28s. Bd.; 32 b.f. lambs, 19s. 7d.; 34 wether lambs, IGs.; 44 small ewe lambs, 195.; aged ewes, 12s, to 155.; Romney rams, 2}gus. to 7gns.; Southdown rams, sgns.- to lOgns.; wetnier dairy heifers, £3. Gs., £3 10s., £3 los., £4, forward cows. £4, £4 ss„ £5 10s., £u 135.. £C 55., £G 155.; potter bulls, £6 to £9, weaner pigs, 10s. to 155.; slips, las. to -Os.; porkers, 255. to 31s. Gd. A special entry of stud Jersey cattle on account ot W. Dyer sold in conjunction with Dalgety and Co. met with good competition and realised the following prices:—Jersey cows in calf, 3Ggns., 29gns., 27gns., Ifigns.; Jersey heifers in calf, 21gns., 18gns.; weaner Jersey heifer, 14gns.; weaner Jersey bull. 7gns.; two-year Jersey bull. 14gns.. Implement and sundries all brought full values. LEVIN. The New Zealand Loan and Mercantile Agency Company, Ltd., report that at their weekly sale at Levin on Tuesday last they offered to a good attendance of buyers a good yarding of sheep, cattle, and pigs. Competition was good and practically a clearance was. made at the following prices :—Mixed age ewes, to 31s. Id.; medium 2-tooth ewes, 345. Gd.; t>-year ewes, -os. to 245.; 2-tooth store wethers, 245. Gd.; medium woolly r.w. lambs. 17s. to 18s. -d.; small b.f. lambs, IGs.; cull do., Bs. Gd. to 13s, 2d.; medium fat cows, £6 las. to £8 55.; light fat Jersey heifers, £8 10s. to £8 15s • forward condition cows, £5 to £<i 17s. Gd.; store do., £3 12s. sd. to £4 55.; small yearling steers, £5 55.; heifers r.w.b., £6 l°s Cd to £7 55.; weaner heifers, £2 us. to £4 55.: bulls, £5 10s. to £7 10s.; baeoners, £2 17s. Gd. to £3 10s.; porkers, 3as. to £2 12s. Gd.; stores, 14s. to 265.; weaners, 10s. to 13s. TAIHAPE. . The New Zealand Loan and Mercantile Agency Company, Ltd., report;—At our Taihape sale on Wednesday we yarded about 4000 sheep and 450 head of cattle, the bulk of the latter consisting of 20 months P.A. and Hereford steers. There was a good attendance of buyers, and the bulk of the entry changed hands at prices on a par with recent sales. We quote: Good uyear ewes, 28s. to 305.; inferior ditto, 18s. to °2s 3d.*, good ewe lambs (shorn),. -9s. 3d. "wether ditto, 19s. Gd.; f. and f. 4 and G-tooth wethers, 295. 5d.; medium ditto,

27s Gd.; 6-tooth Romney rams, 4gns.,; aged ditto, 1 to 2gns.; good P.A. 20-months steers. £9 7s. Gd.; medium ditto, £7 to £8 45.; Hereford ditto, £8 2s. Gd.; fat and forward bullocks, £l2; stores, £9 10s. ASHHURST. Messrs. Dalgety and Co. report:—There was a very successful clearing sale held on account of Mr. F. Maul at Ashhurst on March 27. There was a large attendance of buyers and competition'was keen. Quotations: M.a. ewes, 325. to 355, 7d.; 2-tooth ewes, 355. 2d., 275. 2d.; woolly ewe lambs, 295. 2d.; woolly wether lambs, 21s. 7d.; 2tooth wethers, 28s. Id.; S.D. rams, Ggns.; aged'S.D. rams, ligns., ligns.; aged Romney rams, 2jgns.: dairy cows in milk, £7 to £l3; S.M. 18-months steers, £7 45., S.H. 18-months heifers, £5 10s., ~i 7s. Gd , m.s. S.M. weaners, £2 ISs.; S.H. bulls, £lO, 4-year gelding, £l9 55.; aged draughts, £l4 to £2B; hayrake, £10; P^uf 11 , £«■ manure distributor, £l3 10s.;, drill, £-L roller. £l3 55.; discs, £5; spring; dray, £8; mower, £l3; tyne harrows, £u los. CUSTOMS REVENUE. The Customs' revenue collected at the port of Wellington yesterday totalled £12,153.

WELLINGTON STOCK EXCHANGE YESTERDAY’S BUSINESS AND PRICES . A sale of National Bank of New Zealand at £7 75., made late on Saturday was reported at the morning call yesteruaj, and the sales reported at the were Christchurch Gas at -Gs., Vellingtoii Woollen ordinary at £7 as. Gd., and Bien 1 waPa for Government stocks and bonds, with buyers of the 44 tier cents, at £’J9 155., and the nJ per cents at £lOl ss. Wellington Racing Club debentures were up 10s. at New Zealand Breweries bonds were film at Ju°s S t aSittle more demand existed for i>qnk shares There were bids of £lo tor Bank of Australasia, 365. for Australian Bank ot Commerce, 295. for Commercial itnnk U 7 4s for National Bank ot New Maland £l9 B°sl for National Bank o £5 S pa"s Vd° forßauk’of New Zealand b share’s and £ls Bs. for Union Bank. Sellers quoted £sl 2s. Gd. ex dividemd for Bank of New South Wales, and G3s>. Bd. for Bank of New Zealand. Financial shares were again in good demand Dalgety (Melbourne register) were wanted at £ls Ils Gd.. and Goldsbrough Mort at 525. New Zealand Loan and Mer cantile at £127 ss. were up os., New Zealaud Guarantee Corporation were steady, the ordinary at 9s. 2d., and the preference at 21s Gd. Wellington Investment were lirm at 10s. 9d. ’*• Insurance shares were slow. There was a bid of IGs. 2d. for National Insurance, and 345. 9d. for South British. Christchurch Gas were in demand at -os. fid., and Wellington Gas at 31s. Zealand Refrigerating 10s. paid were steady at 7s. Sd., and Wellington Meat There were buyers of Mosglel Woollen at £7 10s., Union Steam at 20s. Gd., Westport Coal tit 325. 3d., and Kauri Timber at I 'bental and Medical Supply were up 3d. at 10s. 3d. There were buyers of Electrolytic Zinc ordinary at 305., ex dividend, and preference at’ 365., Holden s Motor Body Builders at 2Ss. Bd., Newton King at Ss. Gd., New Zealand Farmers Fertiliser at 20s. 3d., Taranaki Oil at 4s. 9d., AVairarapa Farmers’ at 13s. 9d., and Mount Lyell at 435. Gd. Yesterday’s buying and selling quota-

SALES IN OTHER CENTRES By Telegraph.—i’less Association. ( Auckland. March 4. Sales.—Auckland Gas (contg.), 18s. 3d.; New Zealand Breweries, 585.; New Zealand Paper Mills, 18s. 3d.; Waihi Mining, 13s. 2d. , . Dunedin, ..March 4. Sales Reported.—Blenheim Oil, 70s. Christchurch, March 4. ' Sales.—New Zealand Government, 54 per cent. Bonds, 1033, £lOl 10s.; Commercial Bank of Australia, 295.; Australian Bank of Commerce, 365., 365. 3d., 365. 6d.; New Zealand Refrigerating (10s. paid), 7s. Bd. (2 parcels) ; New Zealand Government, 4| per 'cent. Inscribed, 1036, £99 17s. 6d., £100; Grey Valley Collieries, 21s. 6a.; Christchurch Gas, 265. 4d., 265. 5d.; New Zealand Breweries, 575. lid., 58s. (4 parcels) ; Beath and Co. (new Is. paid), Bs. 9d (14 parcels); Holden’s Motors, 28s. 9d. (2 parcels); Mahakipawa, Is. 4sd. (3 parcels). COMPANY ACTIVITIES . PROPOSED NEW COMPANY The prospectus of Thomas Rowell Vienna Cake Shops, Ltd., just issued, has an appeal which should me< with a good response. The capital is £40,000 in £1 shares, of which 12,000 fully-paid are allotted to the vendor and the remaining shares are offered for public subscription. The company is being formed to take over the freehold land and buildings, plant, machinery, equipment and shop fittings of the Vienna Cake Shop in Courtenay Place, the property of Mr. Thomas Rowell. It is stated that the whole of these assets have been valued by independent and careful valuers, and the vendor receives only the amount of the valuation, so that the new company will not be encumbered with "goodwill.” Furthermore, the continuity of the business is not disturbed, for Mr. Rowell engages to serve the company as manager for ten years. Besides the 12,000 fully-paid shares the vendor is to receive £6OOO in cash within three months of the formation of the company, and a further £SOOO within one year. The balance of £13,000 is a mortgage which the company takes over. The abridged prospectus appears in another column. BANKRUPTCY PROCEEDINGS CREDITORS ACCEPT OFFER The first meeting of creditors in the bankrupt estate of Gustaf Lindstrom, carpenter and builder,, of Lower Hutt, was held yesterday before Mr. S. Tansley (Official Assignee). The unsecured debts totalled £B7 6s.—C. and A. Odlin Timber Co., Ltd., £4B 12s. 4d.; R. Turner, builder, Lower Hutt, £l2 Ils.; C. R. Barrett, solicitor, Lower Hutt, £8 7s. 7d.; H. S. Dudding, plumber, Lower Hutt, £4 18s. 4d.; E. Nelson and Co., painters, Lower Hutt, £7 145.; Hutt Bowling, Tennis and Croquet Club, £5 Is. fid. In his sworn statement, bankrupt said that he was a building contractor, taking small contracts up to Christmas, 1027; but did not make a success of it, his prices being too low. At Christmas, 1927, he had an accident and broke his leg, with the result that he was out of work and under medical attention for six months. During that time he earned nothing. He had enough money to pay his doctor, whose account was about £l4; and in order to meet his ordinary living expenses, his wife had to raise a second mortgage for £loo on her property. Since June, 1926, he had only been able to do casual work as a carpenter, and could not work full time because of his leg. Several of his creditors had threatened to sue him, and Mr.Turner had obtained judgment against him; so, in' order to protect himself and his other creditors, he was obliged to file. In reply to Mr. Tansley, he said that £5 Is. fid. owing to the bowling club was for subscriptions for himself and his wife. As a carpenter, he could earn £6 Is, per week when working full time, and he had two contracts in view; so that, with luck, he should be able gradually to pay off his debts. His wife had had the property referred to for five years past. bhe had paid the £SO deposit out of her savings from her wages (about £2 a week) for going out to work. She paid all the outgoings—interest, etc. He had built her a small shed at a cost of about _£lß, at the back of her house. A little of his money might have gone into the house itself, but not much. They had one child, a daughter aged 19. but. she was delicate and unable to work. „ . ~, The bankrupt made an offer to pay off his debts at the rate, in the meantime of £1 per week, the ampunt to be increased if he earned more. . This offer was accepted, and the meeting was adjourned sine die. LONDON WOOL SALES The second of the series of London wool sales will begin in the Coleman Street Wool Exchange this evening and it will be very surprising if values do not show a marked decline on the January sale; which was the experience in New Zealand. Immedeiately the bank rate was. advanced prices of commodities receded, for the increase of 1 per cent, in the money rate had to be faced To what extent the position has changed may be judged by the cabled quotations for Bradford Tops at the end of January and February. The figures are

An’ s 22 x •• There Is an all-round decline, but it is the fine wools that suffer the most. Manufacturers are turning to the lower Shades of wool because of cheapness, which is all the requirements of the consumer. UNITED STATES IRON AND STEEL INDUSTRY The prosperous actiivty of the iron and steel industry in the United States is clearly indicated in a recent report received from the Department of Commerce by Mr. C Kunkel, Acting American Trade Commissioner for New Zealand., The production of coke pig iron during December was 3,369,784 gross tons, with a dailv average rate of 103,702 tons. Only once 7 has December shown higher rate, and that was in 1918, 110,478 tons were produced daily. The total pig iron production for 1928 was 37,831,741 tons, an increase of 1,542,000 tons over 1927. The rate of operation in the blast furnaces was SO 2 per cent, of their capacity. The production rate for steel ingots during December was the highest for that month in the history of the industry. The total was 4,015,434 tons and the daily average 160,617 tons, representing 8u.2 per cent, of the capacity of the mills. The total production of steel Ingots during 1928 was 49,853.225 tons, an Increase of 6,455,000 tons over 1927.

r f 'or wk. Total Weight to oz. dr. date E. ,T. Wing, No. 1, W.L. .. 5 9 12 259 Opaki Stud Farm, W.L .. o 4 15 228 T. and J. Taylor, W.L. .. 5 10 S 223 G. E. Moody, W.L P 11 12 213 E. W. Tooby, W.L 5 10 12 213 E. J. Wing, No. 2, W.L. .. 4 S 0 197 A. Cook 4 8 4' 191 L. A. Wadham. B.O 5 11 2 186 Raynor Bros., No. 1, B.O. 6 11 8 176 H. C. West, W.L 5 11 2 165 Raynor Bros., No. 2, B.O. 4 9 7 154 E. A. Tozer, B.O 3 5 14 152 Raynor Bros., W.L B. Pimm, B.O 3 7 0 151 r. 10 0 114 II. J. Pryor. R.I.R —M —- 106 W. Spence, W.L — — 100 >1 ■ ■ ■» ’ I 61 2828 F. Taylor, W.L., No. 1 .... 4 8 2 268 No. 2 I) 10 0 247 No. 3 4 8 15 229 Dr. Tweed, No. 1 5 12 12 744 236 No. 2 i) 10 2 243 j, No. 3 4 9 3 243 W T . Spence, No. 1 6 13 10 722 252 ■No. 2 5 11.15 225 „ No. 3 4 8 14 202 P. Freeman, No. 1 6 13 7 679 229 „ No. 2 4 9 4 243 „ No. 3 5 9 11 208 E. W. Tooby. No. 1 5 9 4 680 231 „ No. 2 5 9 6 • » No- 3 4 8 4 ■■ 215 C. H. Robbins, No. 1 .... 6 13 14 667 190 . - „ No. 2 4 7 15 187 „ No. 3 4 7 14 268 A. A. Hoare, No. 1 9 14 645 187 No. 2 6 ,13 2 237 No. 3 10 13 207 J. Bradbury. No. 1 631 183 „ No. 2 1 5 11 10 213 „ No. 3 5 10 4 232 Opaki Stud Farm, No. 1 .. o 4 14 628 224 „ No. 2 5 10 6 201 „ No. 3 5 10 4 199 r. ■ G. Webb, No. 1, 4 9 4 624 138 „ No. 2 —— — 219 „ No. 3 5 10 2 266 623 R. K. McDonald, No. 1 .. 4 8 7 221 „ No. 2 5 11 14 173 „ No. 3 2 4 8 221 V . . ■ 1 - G. Waring, No. 1 .. 4 8 15 615 181 „ No. 2 4 8 10 185 „ ‘ No. 3 ...... □ 10 3 246 H. C., West. No. 1 5 11 0 612 223 „ No. 2 6 12 0 199 „ No. 3 4 9 4 182 G. Masters, No. 1 10 15 604 233 „ No. 2 — — 125 „ No. 3 11 14 203 J. D. Rowlands, R.I.R.— No. 1 ,561 178 No. 2 4 9 8 226 No. 3 3 5 8 142 A. A. Hoare, R.I.R., No. 1 4 1 8 3 546 196 „ No. 2 4 8 10 181 „ No. 3 o 11 6 141 C. E. Brock, W.L., No. 1 .. 3 7 8 518 145 „ No. 2 o 4 7 144 „ No. 3 1 2 10 206 Rev. Blathwayt, B.O., No. 1 5 10 2 495 106 „ No. 2 4 8 3 112 „ No. 3 3 6 2 116 334 219 10928

tions were as under Buyers. Sellers. N.Z. GOVT. LOANS— £ s. d. £ s. a. 54 p.c. Ins. Stk., 1933 54 p.c. ditto, 1933 ... 101 3 0 —— 101 5 0 54 p.c. ditto, 1941 ... , 99 0 0 — 44 p.c. Bonds, 1939 ... . 1)9 15 0 100 — 44 p.c. ditto, 1938 ... . 99 17 6 6 44 p.c. ditto, 1930 ... — 99 10 0 5i p.c. ditto, 1933 ... 101 5 0 — 51 P.C. ditto, 1936 ... 101 7 6 5i p.c. ditto, 1930 ... DEBENTURES— 107 — 99 7 6 Well. Racing Club .. 0 0 N.Z. Breweries (bonds) 1 6 3 1 6 6 BANKS— Australasia / • , 15 0 0 15 2 0 Australian Bank or Commercial of Aust. . 1 9 0 1 9 0 'National of N.Z. .... 7 4 6 — National of Australasia (£10) _ Ig S 12 0 0 9 14 0 New South Wales ... — 51 6 New Zealand • •• Ditto. long-term mortg. 1 8 6 lb 8 0 FINANCIAL— 12 Goldsbrough Mort ... Dalgety and Co. (Mel0 bourne register) .. la 11 6 N.Z. Guarantee Corp. 0 9 0 0 9 6 *4.* X 1 1 6 — Ditto (prer.) ........

N.Z. Loan and Mercantile (ord.) Well. Invest., T. & A. 0 GAS— -l 5 0 10 9 — 5 9 1 6 6 Wellington (ord.) ... 1 U 0 —- INSURANCE— National •’ 16 South British 4. 9 MEAT PRESERVING— Gear — 2 4 3 N.Z. Refrigerat. (10s.) 0 7 8 Well. Meat Exp. (ord.) 0 12 0 0 13 TRANSPORT— Huddart, Parker (ord.) —— 7 Union Steam (pref.) . 1 0 6 ——’ WOOLLEN— Mosgicl * 10 0 COAL— , Westport ' 1 12 3 1 12 6 TIMBER— n Kauri 0 17 0 — BREWERIES— New Zealand —• MISCELLANEOUS— , t British Tobacco (ord.) —— Dental and Medical Supply ........... <’ D.I.C. (ord., prem.) .. 0 Electrolytic Zinc (ord.) 1 10 10 15 3 6 0 — Ditto (pref.) •••••••• } Holden’s Motor Bldrs. 1 10 0 8 8 Newton King (pref.).. 0 8 6 N.Z. Farmers’ Fertiliser 1 0 3 N.Z. Paper Mills .... Taranaki Oil ,• • 9 4 9 Wairarapa. Farmers (pref.) 0 Wilson’s Cement .... 1 0 — —

as under: — Tops. 64’s — • CD’s ....... Jan. "1. d. 454 43 Feb. 28. Fall, d. d. 43 24 404 ' 24 • 5fi*s .... 324 32 4 50’s ....... .... 28j 27 • 14 4fl’« ....... 23 22| i .. . 22 21 1