Farm and Commercial Section

Dominion, Volume 22, Issue 140, 9 March 1929, Page 12

Farm and Commercial Section

LATEST REPORTS from ALL CENTRES

AUCTION SALES MONDAY. 8 Willeston Street, 11 a.m.—Sale of unclaimed cargoes (E. Johnston and Co.). THE WOOL MARKET KEENER TONE AT LONDpN SALES Australian Press Association. London, March 7. At the wool sales 10,400 bales were offered, of which 5746 were New Zealand, comprising a medium selection of merinos and a splendid representative Offering of greasy crossbreds. There was general competition with a keener tone, and opening prices were confirmed. New Zealand offerings realised: Waikohu, highest price 181 d. average 174 d.; Bankhouse, 23$d. and 21d.London, 21d. and 19d.; • Wharanui, 22d. and 19d.; Te Rata, 17d. and 15Jd.l Alitlo, 19*d. and 18}d.; Lansdowne, 22d. and 21d.; Tare, 18d. and 16id. BROKERS’ REPORTS. Messrs. Murray, Roberts and Co., Ltd., are in receipt of the following wool market quotation from their London agents:— Opening Closing rates rates March series Jan. series. 60/64’8 (New Zealand merino) yielding 48 p.c, * • 56’s yielding 60 p.c. .. 23d. 50’s yielding 03 p.c. .. 19d. 21d. 44/40's preparing, yielding 74 p.c, .... 17d. 18(1. 44/46’s carding, yielding 72 p.c 16d. 174 d. 40/44’s yielding 73 p.c. 15d. 16jd. 36/40’8 yielding 75 p.c. • 16d. •None offering. Messrs. Murray, Roberts and Co., Ltd., are in receipt of the following cablegram from their London agents, dated March 7: — “Merino, good selection offered, competition keen, German and Bradford, principal buyers. Compared with last London sale’s closing rates: Greasy merino, par to 5 per cent, decline; pieces and broken Show the least decline; scoured merino declined £> per cent; scoured Crossbred par to 5 per cent, decline.” The Department of Agriculture has received the following cablegram, dated March 8, from the High Commissioner for New Zealand, London:—“Wool sales opened yesterday with large attendance representing Home trade and Continent. Competition was active generally at about prices expected. Bradford bld keenly, particularly for crossbred. Small offerings of merino but good show of New Zealand crossbred greasy. Compared with closing rates last series, greasy merino and fine crossbred 5 per cent., medium crossbred and coarse crossbred 5 per cent, to 7i per cent, lower. 114,000 bAles available for series, of which New Zealand 45,800, Australian 45,000, and South American 10,500.” SLIGHT ADVANCE IN TOPS Australian Press Assn.—United Service. London, March 7.:, On the Bradford tops market quotations have slightly advanced, but are purely nominal. Business is strictly limited. Quotations: 64’s, 43jd.\; 60’8, 31Jd.; 56’s, 32u.; 50'8, 27Jd.; 46’s, 4o’B, 21}d.

STRONG COMPETITION AT SYDNEY Australian Press Association. Sydney, March 7. The wool market closed without change. There was a strong general competition and excellent clearance at late rates. Badlv Classed wools were irregular. Greasy merino Bold to 2(>4d. per lb. A total of 10,658 bales was sold. DUNEDIN WOOL SALE A LARGE CATALOGUE. Dominion Special Service. Dunedin, March 8. At the third Dunedin wool sale of the 1928-29 selling season, which Will be held in Burns Hall on Tuesday, one of the largest offerings of wool for many years will go under the hammer.- The catalogues of the seven selling firms total to the very satisfactory figure of 34,717 bales. This large final offering will bring the Dunedin total for this season to 84,581 bales, compared With 77,177 bales last season, and 68,535 bales in 1926-27. The quantities for the three sales this season are as follow, with thb figures for last year in parentheses:— December sale, 22,6G4 bales (20.648). February sale, 27,200 bales (27.309). March' sale, 34,717 bales (27,343). BUTTER AND CHEESE LONDON QUOTATIONS. (Australian Press Association.) London, March 7. Butter. —Market is quietly steady. Danish, 1855.: choicest salted, New Zealand, 170 s. to 1725.; Australian, 1705.; unSalted, New Zealand, 180 s.; Australian, 1768. Cheese. —Market firm. New Zealand, 905.; Australian, 88s. Messrs. Joseph Nathan and Company, Ltd., have received the following cablegram from Messrs. Treugrouse and Nathan, Ltd., London, dated March 7:—“New Zealand butter, 170 s. to 171 s. per cwt; New Zealand cheese, 89s. to 90s. .per cwt.” Mr. G. A. Milla is in receipt of the following cabled advice from Messrs. A. J. Mills and Co., Ltd., London, under date March 7: — “Butter.—The market is quiet with finest New Zealand at 1705., 1715., first grade 1685.; Danish, 1845., .1865.;. Australian, 1685., 170 s. “Cheese. —This market is steady with New Zealand white and coloured Cheese at 88S., 80S.” Messrs. Dalgety and Company have received the 'following report from London, dated March 7 (last week’s prices in parentheses) :— “Butter.—Danish, 184 s. to 186 s. (188 s. to 190 s.); New Zealand finest salted, 168 s. to 171 s. (170 s. to 1725.); Australian finest unsalted, 1745. to 1765. (1725. to 1765.); Australian finest salted, 168 s. to 170 s. (168 s. to 170 s.); Australian G.A.Q., 1645. to 1665. (1645. to 1665.). "Cheese. —New Zealand cheese market steadier. Australian white, not quoted; Australian Coloured, not quoted; New Zealand white, 89s. (905.) ; New Zealand coloured, 89s. (90s;); spot price for Canadian white, 106 s. to 112 s. (106 s. to 110 s.) ; spot price for Canadian coloured, 106 s. to 110 s. (106 s. to 110 s.).” LONDON TALLOW SALES Messrs. A. H. Turnbull and Co. are In receipt of a cablegram from Messrs. W. Weddel and Co., Ltd., dated London, March 6, in which they advise as follows:— “Tallow auction market unchanged. for spot, .but shipment market quiet with lower tendency." FROZEN MEAT Messrs. M. A. Eliott, Ltd., Palmerston North, have received cabled advice from London of the following Smithfield prices for the week ended March 8. These prices are on the "delivered” basis, that is, including storage charges, cartage, etc.: — Best North Island prime lambs: Under 36 lb., 9}d. per lb.; 361 b. to 421 b., 9d.; 421 b. to 501 b.. Sid. Ordinary North Island lambs: Under 421 b„ 8 7-Bd.; second quality, under 421 b., B}d. Best North Island wethers and/or maiden ewes-: 481 b. to 561 b.. 6 3-Bd.; 561 b. to 641 b„ 6 3-Bd.: 641 b. to 721 b., 5 l-Bd.; over 721 b., 5 l-Bd.Ordinary North Island wethers and/or maiden ewes: 481 b. to 561 b., Gid.; 561 b. to 641 b., Gid.; 641 b. to 721 b., 5d.; over 721 b., sd. North Island ewes: Under 641 b., 4 5-Bd.; 641 b. to 721 b„ 4 l-Bd.; over 721 b., 4 l-Bd. New Zealand prime ox beef (equal fores and hinds): IGOlb. to 2201 b., 4Jd. Remarks: Prime light weight lamb, id. lower; heavy weight, 4d. lower; second lamb, l-Bd. lower; light weight wethers, no change; heavy weight, id. lower; ewes, no change; beef, no change. Messrs. Dalgety and Company have re4ceived the following report from London, dated March 7:—Frozen meat quotations unchanged, but rather better demand for lamb and mutton. Lamb prices may improve somewhat later on. PRICES OF FAT STOCK FOR EXPORT The New Zealand Meat Producers’ Board advises that the following prices were offered for fat stock for export as at March 7; — . , , Hawke's Bay.—Prime woolly lambs: 36 lb. and under, 9d.; 371 b. to 421 b., BJd.; 431 b. and over, Bd.; second quality lambs, Sd. Wellington.—Prime woolly lambs: 361 b. and under, 9d.; 371 b. to 421 b., 84d.; 431 b. and over, Bd.; second quality lambs, Bd. Canterbury.—Prime woolly lambs: 301 b. and under, 9sd.; 871 b. to 421 b.. fid.; 43,b. and over, 843.; second quality lambs, B}d. Southland. —Prime woolly lambs: 361 b. and under, 9}d.; 371 b. to 421 b., 8?d.; 431 b. and over, Bid. Second quality lambs: 361 b. and under, B}d.; over 361 b., 7Jd.

LIVE STOCK SALES FEILDING Dominion Special Service. reiiding, March 8. A heavy yarding of sheep again came forward to-day, chiefly breeding ewes, with a few lines of store wethers. The sale opened with a dragging tendency, but im proved as the sale went on. Any good breeding ewes with good mouths sold on a par with late sales, but fallihg-mouth ewes were slightly easier. A line of 800 good four and five-year ewes with good mouths, rather small In bone, with good frame and condition, sold at 255. 9d. A verv nice line of two-tooth ewes, sothe rather strong in wool, but a really wellgrown line, sold at 445. Gd.. also a line of tip-top wether lambs, early shorn, well grown, and In good condition, fetched 20s. 2d.; fat wethers, 275., 295. 6d., 305.; shorn wether lambs, 14s. 2d., 20s. 2d.; ewes, ditto, small, 18s.; small m.s. woolly lambs passed at 175.; two-tooth ewes, 20s. 9d., 315., 335. 4d.. 355. 6d., 445. 6d.; small ditto, 225., 235.; four-tooth, 375. Gd.; four and sixtooth ewes, 265. 6d., 30s. Id.; five-year, 20s. 6d., 245., 255. 9d.; tWo-tooth, 265. 10d„ 275. Id. There were about 15,000 sheep yarded. Cattle sold at late rates. LEVIN. The wet weather adversely affected the attendance and yardings at the Weekly Levin stock sale when stock sold at prices about or a par with late rates. . Messrs. Abraham and Williams, Ltd., quote as Under: —Sheep: Aged ewes, 12s, 6d. to 17s. 2d., medium woolly white-faced lambs 13s. lid., four and five-year ewes 19s. 6d, Cattle: Fat cows, £5 2s. 6d. to £5 55.; weanet steers, £2 17s. 6d.; weaner heifers, £4 Bs.; potter bulls, £4 ss. to £B. Pigs: Weahers, Ils. 6d. to 12s. 6d.; porkers, 325. 6d.. 355., £2 2s. to £2 4S. Gd.; baconets, £2 16s. SHANNON. Abraham and Williams, Ltd., report:— A fair entry of sheep and a good yarding of cattle came forward at Shannon on Mon day. Bidding was good throughout the sale and we disposed of the majority of our entry under the hammer. Quotations: Fat ewes, 20s. to 215.; store ewes, 15s. 6d.; w.f. lambs, 14s. 6d.; b.f. lambs, 10s. to tOs. Id.; Southdown rams, aged, 3jgns.; fat bullocks, £9 2s 6d.; fat cows. £4 ss„ £5 10s., £O, £6 6s. to £6 155.; cows rw.b., £6 10s.; empty cows, £3, £3 5s. t £3 12s. 6d., £4 to £4 2s. Gd.; cows in milk, £5 155., £7 15s„ £B, £9, £9 155., £lO ss. to £11; bull, £6 2s. 6d. WELLINGTON STOCK EXCHANGE YESTERDAY’S BUSINESS AND PRICES

At the morning call yesterday sales were reported of 44 per cent, bonds (1938) at £lOO, Commercial Bank at 295. 3d., and Staples and Co. at 445. At the afternoon call sales of the 44 per cent, stocks at £lOO and bonds at £lOO Were reported. Government securities, were in steady demand, the 44 per cents, at £99 15s. and the 5J per cents, at £lOl ss.' Wellington Racng Club debentures were wanted at £lO6 10s. and New Zealand Breweries bonds at 265. 2s. " Bank shares were firm, with bids of £l5 cum dividend for Bank of Australasia, 38s. for Australian Bank of Commerce, 295. for Commercial Bank of Australia, £8 17s. for English, Scottish and Australian Bank, £5O 17s. 6(1. for Bank of New South Wales, 28s. 6d. for Bank of New Zealand D shares, and £l5 Bs. for Union Bank. New Zealand Loan and Mercantile were in demand at £l2B, and Ooldsbrough Mort at 529. 3d., and New Zealand Guarantee Corporation at 9s. 3d. There were bids of 9s. Cd. for New Zealand investment, 10s. 9d. for Wellington Investment, and £6 17s. 6d. for Wellington Trust and Loan. National Insurance were firm at 16s. 3d. and South British Insurance at 655. Wellington Gas were firmer at 31s. 3d. and Gisborne Gas were steady at 10s. 9d. Union' Steam were wanted at 20S. 6d., Kaiapoi Woollen at 14s. 6d., Westport Coal at 325. 3d., Kauri Timber at 16s. 9d. and New Zealand Breweries at 575. 9d. In the miscellaneous section there were buyers of Burns Philp South Sea at 80s., Dental and Medical Supply at 10s. 6d., D.I.C. preference at 20s. fid., Holden’s Motor Body Builders at 28s. 6d. cum dividend, Newton King preference at Bs. Cd., Sharland and Co.-at-20s. 3d., Wairarapa Farmers at 145., Wellington Queen’s Theatre at 235., Wilson’s Cement .at 40s„ and New Zealand Drug at 755. 6d. cum dividend. Yesterday’s buying and selling qubtations were as under:— Buyers; Sellers.

SALES IN OTHER CENTRES By Telegraph.—Press Association. Auckland, March 8. Sales.—lnscribed Stock (1939), 4J per cent., £100; Bank of New Zealand, 635., 635.; National Insurance, 10s. 4d.: New Zealand Insurance, 475.; Pukemiro Collieries, 675. Gd.; Renown Collieries, 17s. 6d,; Grey Valley Collieries, 22d.; HuddartParker, 465.; Staples Breweries, 445.; Colonial Sugftr, £6O; New Zealand Farmers’ Fertiliser, 215.; Whittome Stevenson, 405.; Ohinemuri, Bs. 3d.; Waihi. 13s. 3d. \ Dunedin, March 8. Sales.—Broken Hill South, 035.; Hud-dart-Parker (ord.), 455. Od. (cum. div.). Sale Reported.—Goldsbrough Mort, 525. 6d. Christchurch, March 8. Sales.—New Zealand Government 54 per cent. Bonds (1933), £lOl 10s.; Australian Bank of Commerce, 3Ss. 6d., 38s. Id., 38s. (three parcels), 38s. Id.: E. S. and A. Bank, £8 165.; National Bank of Australasia (£5 paid), £9 12s. 6d. (two parcels) ; New Zealand Guarantee Corporation, 9s. 4d.; P. and O. deferred stock, 645. Gd.; New Zealand Refrigerating (10s. paid), 7s. 6d.; Christchurch Gas (10s. paidf, 13S. id. (odd lot).; British Tobacco, 48s. 9d. (two parcels), 48s. lOd.; Dominion Rubber, 375. 4d.; Dunlop Rubber, 28s. 2d.; Mount Lyell, 425. 2d. (three parcels); Mahakipawa, Is. 4d. (21 parcels). Sale Repotted.—P. and O. deferred stock, 60s. LONDON WOOL SALE The second of the series of London wool sales commenced on Wednesday, and as was generally anticipated, there was a drop in prices as compared With the January sales. London values are following those ruling in Australia and New Zealand. Crossbred are 4d. to Id. lower as-compared with the previous sales and the same movement was disclosed here. At the February sales' at all centres prices were lower than in January and there seems little doubt that the advance in the Bank Of England discount rate was the depressing factor. The New Zealand wool selling season will terminate with the sale to be held in Wellington on Wednesday, March 20. ’ There is no limit to the quantity that can be offered at this sale, and all wool-received by the brokers up to 5 p.m. of Wednesday next will be Included in the catalogues. If there is no further monetary disturbance, prices should remain steady. CUSTOMS REVENUE. The Customs revenue collected at the port of Wellington yesterday totalled £7745. FOREIGN ITEMS WHEAT AND OTHER PRODUCE. (Australian Press Assn.—United Service.) (Rec. March 8, 5.5 p.m.) London, March 7. Wheat.—Cargoes are dull and generally 3d. per quarter lower. Parcels tend to be easier. Liverpool futures: March, Bs. Hjd. per cental; May, 9s. 2Jd.; July, 9s. 5 3-Bd, Spot trade is slow. Australian ex ship, 495. 6d. per quarter. Flour market is dull. Australian ex store, 85s. 9d. Oats are steady. Australian Algerian, 275. 6d. to 205.; A Gartons, 31s. to 325. Peas are slow.- Blue, Tasmanian, 3405. to 3605.; New Zealand. 3205. to 3405. Maples Tasmanian, 70s. to 725. 6d.; New Zealand, 60s. to 02s. Gd. New Zealand beans, 495. to 50s. . . Chicago, March 7. .Wheat futures: March, 1 dollar 22'1-8 cents per bushel; May, 1 dollar 27 cents; July, 1 dollar 29} cents. Melbourne, March 8. Wheat: 4s. Od. to 4s. 9jd. per bushel. Flour: £ll to £ll ss. per ton. Bran: £0 15s. per ton. Pollard: £0 15s. Oats: 2s. lid. to 3s. 9d. per bushel. Barley, English: 4s. to 4s. 3d. Maize: 4s. lOd. At the hides sales there was an active market and values generally were farthing to halfpenny dearer. COMMONWEALTH BONDS IN NEW YORK. Australian Press Assn.—United Service. (Rec. March 8, 5.5 p.m.) New York, March 7. With rather large sales of 263.000 dollars worth of Commonwealth 44 per cents, on the Stock Exchange to-day the price fell from 871 tb 844 d., being the lowest this security has reached, closing at 854. Inquiry disclosed that a single parcel,’ of 150,000 dollars of these bonds was sold by one financial house, ~ possibly closing the estate and caused the price to soften accordingly. There apparently was no other discernible cause for the drop. THE METAL MARKETS. Australian Press Association. (Rec. March 8, 8.30 p.m.) > London, March 8. Copper.—Standard, on spot, £B2 Ils. 3d. per ton; forward delivery, £B3 18s. lid.: electrolytic. £9l and £9l 10s. Lead.—£23 18s. 14d. and £24 2s. 6d. Spelter.—£26 2s. 6d. and £26 Bs. 9d. Tin.—£2lB 13s. 9d. and £220 12s. 6d. Silver.—Standard,' 26 l-16d. per ounce; and 24 l-Bd. ' PRICE OF GOLD. (Australian Press Assn.—United Service.) (Rec. March 8, 5.5 p.m.) London, March 7. The price of gold is £4 4s. 114 d. per ounce.

N.Z. GOVT. LOANS— £ s. d. £ s. d. 41 p.c. Ins. Stk., 1939 99 15 0 100 —— 44 p.c. ditto. 1938 ... 99 15 0 2 6 54 n.c. Ins. Stk.. 1938 . 101 5 0 — 5j p.c. flitto, 1911 ... 99 5 0 —— 4$ p.c. Bonds. 1939 ... 99 15 0 ■— 44 p.c. ditto, 1938:.— 99 15 0 —- 51 p.c. ditto, 1933 .... 101 5 9 —— 51 P.C. ditto, 1936 ... 101 7 6 99 — 5} n.c. ditto. 1930 ... — 7 6 DEBENTURES— Well. Racing Club .. 106 10 0 —• N.Z. Breweries (inscr. stock) 1 6 0 —- Ditto (bonds) 1 6 2 1 6 6 BANKS— Australasia 15 0 0 —— Australian Bank of Commerce 1 18 0 1 19 0 Commercial of Aust. (ord.) 1 9 0 1 9 3 Commercial Banking CO. of Sydney ........ 27 15 0 — English, Scottish, and Australian 8 17 0 8 18 0 New South Wales .. 50 17 6 51 0 New Zealand Ditto, “D” long-term . —— 3 3 6 1 8 <5 1 9 0 Union of Australia .... 15 8 0 — Ditto (Melbourne register) 15 8 6 —— FINANCIAL— Goldsbrough Mort ... 2 12 3 — N.Z. Guarantee Corp. (ord.) 0 9 3 0 9 0 N.Z. Invest., Mortg., and Deposit ......... 0 9 6 — N.Z. Loan and Mercan132 tile .... 128 0 0 0 0 Well. Invest.. T. & A. 0 10 9 Well. Trust and Loan 6 17 6 — gas— Christchurch ......... ib 1 6 4 Gisborne - 0 0 — Wellington (ord.) ... 1 11 3 INSURANCE— National 0 16 3 South British 3 5 0 MEAT PRESERVING— Gear ■ — 2 4 3 Well. Meat Exp. (ord.) —— 0 13 0 TRANSPORT— it Huddart, Parker (ord.) 0 Union Steam (pref.) . 1 0 6 — WOOLLEN— „ Kaiapoi (ord.) .. 0 14 6 0 1 -L 0 Wellington (ord.) .... Ditto (pref.)

COAL— Westport 1 12 3 —— TIMBER— Kauri 0 16 9 0 17 e Leyland-O’Brien .... Breweries— 1 14 6 New Zealand MISCELLANEOUS— 2 17 9 — Burns, Philp (South Sea) 1 10 0 Dental and Medical . 0 10 •) — Dominion Investments 1 2 — D.I.C. (ord., prem.) .. 0 10 6 — Ditto (pref.) 1 0 0 —— Electrolytic Zinc (ord.) — 1 15 5 Ditto (pref.) — 1 16 6 Holden’s Motor Bldrs. 1 8 6 Newton King (pref.) 0 8 6 —— N.Z. Drug Co Sharland and Co. (ord. 3 15 6 — and pref.) Wairarapa Farmers’ 1 0 3 — 0 14 0 - Well. Queen’s Theatre 1 3 0 —- Wilson’s Cement .... MINING— 2 0 0 0 9 Mount Lyell — 2 2 6