Farm and Commercial Section

Dominion, Volume 22, Issue 175, 20 April 1929, Page 12

Farm and Commercial Section

LATEST REPORTS from ALL CENTRES

AUCTION SALES TO-DAY. 5G McLean Street, Upper Hutt, 1.30 p.m. —Sale of 2 6-roouied houses, with furniture (C. W. Price). 41 Richmond Street, Petone, 2 p.m.— Sale of dwelling (W. Croft and Co.) MONDAY. 105 Lambton Quay, 2.30 p.m.—Sale of 583 acres land, Waimarino County (Harcourt and Co.) Matawhero Yards, Gisborne.—Stock sale. TUESDAY.' Main Street, Pahiatua, 12 noon.—Sale of land (W. A. Cittadini). Farm, Mangaroa, Upper Hutt, 1 p.m.— Clearing sale (Dalgety and Co.) Johnsonville stock sale, 1 p.m. (Wright, Stephenson). Hunterville Autumn Cattle Fair, 12 noon (Abraham 'and Williams). THE PRODUCE MARKETS BUTTER AND CHEESE LONDON QUOTATIONS. Australian Press Association. * London, April 18. Butter. —Market dull. Danish, 1625.; choicest salted New Zealand, 1635., 1645.; Australian, 1585., 1625.; uusalted, about 2s. premium. Cheese. —Markets slow. New Zealand, white 86s. to 88s., coloured 895., 905.; Australian, 86s. to 88s. Messrs. Dalgety and Company have received the following report from London, dated April 18 (last week’s quotations shown in parentheses):— ■/ * “Butter. —Danish, 160 s. to 1645. (1645. to 1665.); New Zealand, finest salted, 1625. to 1645. (1645. to 1665.) ; Australian, finest unsalted, 160 s. to 1625. (160 s. to 1645.) ; linest salted, 1565. to 158 s. (1565. to 1605.) ; G.A.Q., 1525. to 1545. (1525. to 1565.). Market slow. “Cheese.—-Australian, white, 86s. to 87s. (865.); coloured, 87s. to 88s. (88s.); New Zealand, white, 87s. to 88s. (80s.); coloured, 89s. to 90s. (90s. to 915.). Spot price for Canadian, white, 108 s. to 112 s. (108 s. to 112 s.); coloured, 106 s. to 110 s. (106 s. to 110 s.). Market slow.” . Mr. G. A. Mills is in receipt of the following cabled advice from Messrs. A. .1. Mills and Co., Ltd., London, under date —The market is quiet with finest New Zealand butter at 1625. to 1645., first grade 160 s. to 1625.; Danish, 1645. to 1665.; Australian, 1565. to 158 s. • “Cheese—This market is slow and New Zealand* white cheese is quoted at 87s. to BSs., coloured cheese 80s. to 905.” THE TALLOW MARKET Messrs. Dalgety and Company have received the following report from London dated April 17: —“Tallow: 1045 casks offered: 554 casks sold. Mixed and/or beef, good colour, Is. lower; Inferior, 9(1. lower; tjne mutton neglected, nominally 6d. per cwt. lower.” t , Messrs. A. H. Turnbull and Co. have received the following cablegram from Messrs. W. Weddel and Co. Ltd., dated London, April 17:—“At tallow auctions today, 1000 casks were offered, of which 550 casks were sold, at late rates to 9d. less.” FROZEN MEAT Messrs. 'Dalgety and Company have received the following report from London, dated April 18:— “Lamb.—New Zealand prime Canterbury lamb, 281 b. to 361 b., OJd.; North Island; 9id.; Canterbury, 361 b. to 421 b., fid.; North Island, 82(1.; Canterbury, second quality, 9 1-Sd.; North Island, 9 l-Bd.; Canterbury, 421 b. to 501 b., 8 5-8(1.; North Island, BJd. Market firmer; demand better. “Mutton—New Zealand prime Canterbury mutton, 481 b. to 561 b., 7 l-Bd.; North Island, 6 5-8(1.; Canterbury, 561 b. to 641 b., 6 3-Bd.; North Island, 6 1-8(1.; Canterbury, 641 b. to 721 b.. 5 3-Bd.; North Island, 5 l-Bd.; Canterbury ewes, 481 b. to 641 b., 4 5-8(1.; North Island, 4 5-Bd. Market firmer; demand continues. “Australian Lamb and Mutton. ” c quote: F.A.Q., Australian lamb, 281 b. to 361 b., Sd.; G.A.Q., Australian lamb, 281 b. to 361 b., 8 3-Bd. Market for Australian lamb firmer; demand moderate.- G.A.Q. Australian mutton, 401 b. to 601 b., 5d.; Australian ewes, 4 3-Bd. Market firm; demand “Beef. —Argentine chilled hinds, 7<d.; fores, 4?d. “Pork. —English porkers, 801 b. to 1001 b., lid.; New Zealand porkers, 801 b. to 1001 b., 9}d.; 1001b.' to 1201 b., BJd.” Messrs. M. A. Eliott, Ltd., Palmerston North, have received cabled advice from London of the following Smithfield prices for the week ended April 19. U le , e Prices arc on the “delivered basis, that is, ineluding storage charges, cartage, ete.:— Best North Island prime lambs: Under 36 lb . Old.: 361 b. to 421 b.. 9d.: 421 b. to oOlb., Bld. Ordinary North Island lambs: Under '4‘ilb 9d.; second quality, under 421 b., Old. Best North Island wethers and/or maiden ewes': -181 b. to 561 b.. 63d.: o6lb. to 641 b , 6?d.; 641 b. to 721 b„ 5 3-8(1.; over 72 lb„ 5 3-Bd. Ordinary North Island wethers and/or maiden ewes: 481 b. to ufini.. 6 •>;8(1.; 561 b. to 641 b„ 6 5-8(1 ; 641 b. to 721 b. ..id; over 7"lb . 51(1. North Island ewes: I nder 611 b 5 3-Sd.: 641 b. to 721 b.. 4*d.: over 72 Hi 41d. New Zealand prime ox beef (equal fores and hinds): 1691 b. to 4 7-8(1. Remarks: Lamb, no change: light weight wethers, no change: heavy weight. 1-8(L higher; light weight ewes, l-Bd. higher; heavy weight, uo change; beef, no Change. , BRADFORD TOPS MARKET Australian Press Associatiou. London, April 18. The Bradford tops market shows no new business. Quotations, 64’s 43d.; Go’s, 40}d.; 56’s, 32d.; uOs, 27Jd.; 46 s, -3d., 4.o’s, 22d.

CARTERTON. Messrs. Dalgety and Co., Ltd., report on the Carterton sale as follows: —A medium ontrv of sheep and cattle and a full yardin'* of pigs were submitted to the usual attendance of buyers. There was keen competition for sheep and cattle, but the nigs were neglected. Following are the ruling prices:—Fat and forward wethers, 30s. 6d.; empty ewes, ISs. 6d. to 20s. 6d.: medium b.f. lambs, 18s. 3d.: aged ewes rw Romney ram. ICs.: cow with tuo calves, £l3 2s. «<).; two-year bull, £.; weaner steers, los.; porkers. -9s. ba., store pigs, 175.; weaners, 6s. to I.ls. LOWER HUTT CLEARING SALE. Messrs. IL Ernest Leighton 'Limited report that at the clearance sale' of dairy cows held at Park Avenue, Lower Hutt, on behalf of Mr. ,T. lleggie, there was a fair attendance of buyers and a good sale eventuated, the whole herd including a store cow realising an average of £9 Bs. per head. SALE OF FRIESIANS Messrs. Wright, Stephenson and Co., Ltd., are in receipt of a telegram from their Dunedin branch advising that the fourth annual sale of Friesian cattle conducted on Thursday on behalf of the well-known Rosevale breeders. Messrs. H. North and Sons, was very successful. The in-calf heifers averaged 42* guineas, and the rising yearling bulls 45 guineas. The prices for heifers fluctuated considerably, but the.top price was 152* guineas. There was a very steadv demand for the young bulls and the top price was 67 guineas. WELLINGTON STOCK EXCHANGE YESTERDAY’S BUSINESS AND PRICES Sales were reported at the morning call yesterday of 5* per cent, stock (1936) at £lOl 10s„ Union Bank at £l5 10s., New Zealand Refrigerating, 20s. paid at 15s. 4d., and Mount Lyell at 435. 9d. At the afternoon call a sale of 4* per cent, stock (1938) at £lOO was made on ’Change, and sales were reported of 5* per cent, stock (1936) at £lOl 10s.', English, Scottish, and Australian Bank at £8 175., Bank of New Zealand at 625. 3d.. Wellington Meat Export at 12s. 6d., Westport-Stockton ordinary at 3s. 2d., and Colonial Sugar (three parcels) at £59 15s. There was a good demand for Government securities, with buyers of the 4i per cents, at £99 155., and the 5* per cents. (1936) at £lOl 10s. Wellington Gas debentures were firmer at £lOO 155.. Wellington Racing Club debentures were wanted at £lO6 10s.. and New Zealand Breweries (bonds) at 265. 9d. Bank shares were steady and in fair demand. For Bank of Australasia £l4 15s. was bid. for Australian Bank of Commerce 355. 10d.. for Commercial Bank 30s, Id , for English. Scottish, and Australian Bank £8 16s. 9d.. for National Bank of Australasia, £lO paid £l9 10s. and £5 paid £9 125.. for Bank of New South Wales £5l 7s. 6d.. for Bank of New Zealand “D” shares 28s. 9d., and for Union Bank £l5 9s. (Melbourne register). Sellers quoted £2B for Commercial Bank of Sydney, and 625. 4d. for Bank of New Zealand. Equitable Building shares were wanted at £8 Bs., Wellington Deposit at 10s. 6d., and Wellington Trust and Loan at £6 19s. Abraham and Williams preference were steady at 905.. Goldsbrough Mort at 535. 7d., ■ New Zealand Guarantee Corporation

at Ss. 9d., and New Zealand and River Plate at 325. 9d. Gas shares were steady and unchanged, with buyers of Auckland Gas at 245. Id. Christchurch Gas at 265. Id., Gisborne Gas at 10s. Id., and Wellington Gas at 31s. 3d. There were buyers of Wellington Moat Export at 125.. Wellington Woollen preference at 417 55., Westport-Stockton preference at 3s. oil.. Hiktirangi Coal at 7s„ Kauri Timber at ITs. Sd„ Crown Brewery at 7s. fid.. New Zealand Breweries at 625., Staples and Co. at 455. Cd.. Australian Iron and Steel at 215.. Burns. Philp (South Sea) at. 315., Electrolytic Zine preference at 30s. 3d.. Holden's Motor Body Builders at 295., National Electric at 7s. 90.. Sharland and Co. at; 215.. Wellington Queen's Theatre at 235.. Wilson's Cement at Ils. 3d., and Mount: Lyell at 445.

SALES IN OTHER CENTRES By Telegraph.—Press Association Auckland. April 19. . Sales.—lnscribed Stock. 1933. 51 per cent.. £lOl 55.: Inscribed Stock, 1930. 51 per cent.. £IUI 10s.; Bank o fAustralasia. £l4 16s. 6d., £l4 IGs. 6d.: National Insurance, IGs. 5d.; Kauri Timber, 17s. Bd.. 17s. Sd.; Milne and Clioyce debenture stock, 265.; New Zealand Farmers’ Fertiliser Company, 21s. 9d.; New Zealand Refrigerating, 15s. Gd.; Sanford, Ltd.. 13s. 9d„ preference, 20s. 3d.; Alburnia Mining, Is. lOd. Christchurch, April 19. Salos.—Commercial Bank of Australia, 30s. Id. (two parcels), 30s. 2d. (two parcels); Goldsbrough, Mort. 535. 9(1. (two parcels), 535. lOd.: New Zealand Breweries. G2s. Gd. (three parcels) ; Colonial Sugar, £59 10s. (two parcels); Mount Lyell. 445. 3d. (four parcels): Victoria Nyansa Sugar, 445.: Winding Creek (Gd. paid), 9 ~ Sd. Sales Reported.—National Insurance, 16s. 55.: United Building Society, 15s. 9d.; New Zealand Drug Company, 745. COMPANY ACTIVITIES INSURANCE OFFICE OF AUSTRALIA Tn their report for the year ended December 31 last the directors of the 1.0. A. state that as compared with the previous year the net premiums show an increase of £41,852, bringing them to £282.817. The tinderwriting account exhibits a surplus of £27,630. against £29766. Tlie net income from interest was £15,914, and tills with the amount brought forward made available £69,554. against £61,009 a year ago. Interim dividends at the rate of 10 per cent, per annum, and absorbing £oooo, had been paid on preference shares. Out

of the balance £20,000 is added to the reserve fund, making that fund £200,000, and the balance of £44,554 Is carried forward. Subscribed capital is unaltered at £175,000 in 500,000 shares of 10s. each, paid up to ss. each, and 50,000 cumulative preference shares of £1 each, fully paid. Sundry creditor*. Including outstanding claims, decreased in the year from £119,362 to £74,241, and assets amount to ££00,651, against £507,042. They include loans on mortgage £28,000, fixed deposit £70,500, Commonwealth, State, and municipal loans and deposits with Governments £159,208; freehold properties £49,967; deposits at call £77,902, agents* balances .£54,025, and sundry debtors £49,791, GEORGE KENT AND SONS Dominion Special Service. Auckland, April 19. Because Its revenue and earning capacity has entirely outgrown the present capital, the bakery firm of George Kent, and Sons is being formed into a company with a nominal capital of £50,000. The business was established In 1872, and later formed Into a private company with a capital of £lO,OOO. Subsequently the capital was Incresed to £20,000. The present company has a gross Income of £22,ooo—an amount in excess of capital—and it is claimed that the assets without goodwill amount to £56,000. DALGETY AND CO. The New Zealand superintendent for Messrs. Dalgety and Company, Limited, has received cable advice that the company sas declared an Interim dividend of 7s. per share, payable on and after May 17. FOREIGN ITEMS EXCHANGE RATES. (British Official Wireless.) Rugby, April 18. Foreign rates of exchange as on March 18. as compared with par rates, are as follow:—

THE METAL MARKETS. Australian Press Association. (Rec. April 19, 9.5 x>.m.) ' London, April 18. Copper.—Standard, on spot £7O 7s. 6d. per ton, forward delivery £77 Is. 3d.; electrolytic, £B4 and £B5. Lead. £24 15s. and £24 ss. Spelter, £26 16s. 10id. Tin, £204 7s. 6d. and £205 7s. 6d. Silver.—Standard, 25 13-16 d. per ounce; 1ne,27 7-Bd. TARANAKI OILFIELDS, LTD. (Bee. April 19, 9.5 p.m.) Melbourne, April 19. Shareholders in the Taranaki Oilfields, Limited, agreed to place the company into voluntary liquidation. WHEAT AND OTHER PRODUCE. Australian Press Assn. —United Service. (Rec.' April 19, 5.5 p.m.) I London, April 18. Wheat. —Cargoes, unchanged; parcels, held for advance of 3d. per quarter. Liverpool futures: May, Bs. Od. per cental; July, 9s. Id.; October, 9s. 4 3-Bd. Spot trade is Blow. Australian ex-ship, 475. 6d. Flour. —Barely steady. Australian ex Store, 345. 9d. Oats and beans quiet. Peas steady. Eaw beet sugar, May delivery,, Bs. 4Jd. Chicago, April 18. Wheat future's: May, 1 dollar 17 1-8 cents per bushel; July, 1 dollar 21 cents; September, 1 dollar 24 cents. Melbourne, April 19. Wheat, 4s. B}d. to 4s. 9d. a bushel. Flour, £ll to £ll ss. a ton. Bran, £7 a ton. Pollard, £6 10s. Oats, 3s. 3d. a bushel. Barley, English, 4s. to 4s. 3d. Maize, ss. At the hides sales the market was a full' farthliig to a halfpenny lower, excepting for stouts and light kips. PRICE OF GOLD. Australian Press Assn.—United Service. .London, April 18. The price of gold is £4 4s. 10} d. per oz. COMMONWEALTH LOAN FbLLY SUBSCRIBED. By Telegraph.—Press Association. Sydney, April 19. The Commonwealth loan of seven mil- j <lons at 5J per cent, has closed, fully subscribed. CUSTOMS REVENUE. . ' The Customs revenue collected at the port of Wellington yesterday totalled • • £8635.

Yesterday’s buying and selling quotations were as under:- — Buyers. Sellers. N.Z. GOVT. LOANS— •* s. d. s. d. 4 A p.c. Ins. Stk.. 1939 99 13 O 100 G -1* p.c. ditto, 1938 ... 99 13 0 — 54 p.c. ditto, 1933 ... 1 01 0 54 p.c. ditto. 1936 ... .101 ib 0 .— 44 p.c. Bonds, 1941 and 1939 99 15 0 —— 44 p.c. ditto, 193S — 99 15 0 — 44 p.c. ditto, 1931) .... — 99 12 G 5f p.c. ditto, 1932 .... — 99 15 0 54 p.c. ditto. 1936 ... 1 01 10 0 ——- DEBENTURES— Wellington Gas Co. . 100 15 0 __ Well. Racing Club .. 106 10 0 — N.Z. Breweries (bonds) 1 0 4 ■ 6 9 Mangapu Drainage Bd., 5? p.c., 1965 —— 100 0 0 BANKS— Australasia 14 15 0 — Australian Bank of Commerce 1 15 10 1 1G 3 Commercial of Australia (ord.) 1 10 1 — Commercial Banking Co. (Sydney) —— 28 0 0 English, Scottish, and Australian s 1G 9 8 17 6 National of Australasia (£10) 19 10 0 19 13 0 Ditto (£5) ! f 12 0 9 13 G New South Wales .... 51 6 51 15 0 New Zealand —— 3 2 1 Ditto “D” long term .. 1 8 9 —— Union of Australia .. —— 15 10 0 Ditto (Melbourne register) FINANCIAL— lb 9 0 — Equitable Building Co. 8 8 0 —— Abraham and Williams (pref.) 4 10 0 — Goldsbrough Mort .. 9 13 7 5 14 0 National ' Mortgage and A. Co — 4 5 0 N.Z Guarantee Corp. (ord.) 0 8 9 0 8 10 N.Z. and River Plate.. 1 12 9 1 13 6 Well. Trust and Loan 6 19 0 — Well. Deposit and Mortgtjge 0 10 6 — Auckland (paid) .... 1 4 1 — Christchurch 1 G 1 — Gisborne 0 10 1 —— Wellington (ord.) .... 1 11 .3 — INSURANCE— National 0 16 4 — 9 New Zealand —— 2 6 South British ——- 3 6 4 MEAT PRESERVING— Gear — 3 G N.Z. Refrigerat. (£1) — 0 15 8 Well. Meat Exp. (ord.) 0 12 0 —. TRANSPORT— Huddart. Parker (ord.) —— o .) s P. and O. def. stock.. — 19 G WOOLLEN— Wellington (ord.) .... — 7 (J 0 Ditto (pref.) 7 0 — COAL— 12 Westport —— 1 9 Westport-Stockton (ord.) —— 0 3 G Ditto (pref.) 0 3 5 —— Iliknrangi (pref.) .... 0 7 0 — Waipa —— 0 12 0 TIMBER— Kauri Levland-O’Brien .... 0 17 8 1 15 0 breweries— Crown 0 6 —— New Zealand 3 0 3 3 G Staples and Co. 2 5 6 Ward and Co — 1 14 b MISCELLANEOUS— Australian Iron and Steel (pref.) 1 1 0 —■ British Tobacco (Aust.) (ord.) —• 8 0 Burns, Philp, and Co. —— M 8 u Ditto (South Sea) .... 1 11 0 — Electrolytic Zine (pref.) 1 16 3 1 16 8 Gasco Bricks — 1 10 0 Holdens Motor Blds. 1 9 0 1 11 0 Howard Smith (ord.) — 1 it 9 National Electric .... N.Z. Farmers’ Fer0 7 9 — tiliser — 1 2 G N.Z. Paper Mills — 0, 19 0 Sharland & Co. (ord.) 1 1 0 — Well. Queen’s Theatre 1 3 0 ~~ Wilson’s Cement 1 3 — MINING— Mount Lyell Waihi 6 4 13 0 7 0 13 11 Mahakipawa 0 1 0 0 1 6

Paris, francs to Apr. 18. 124.25 Apr. 16. Par. £1 .. New York, dol124.255 124.21 lars to £1 .. 4.8513-32 4.8513-32 4.86 2-3 Montreal, dollars to £1 4.89} 4.89} 4.86 2-3 Brussels, belgas to £1 34.955 34.955 35 Geneva, francs to £1 25.215 25.22 25.22} Amsterdam, florins to £1 12.08} 12.09} 12.107 Jlilan, lire to £1 92.70 92.70 92.46 Berlin. relchsmarks to £1 .. 20.475 20.475 20.43 Stockholm, knr. to £1 18.17 18.175 18.150 Copenhagen, knr. 18159 to £1 18.21 18.205 Oslo. knr. to £1 18.205 18.195 18.159 .Vienna, schillings 34.56 34.56 34.58} to £1 /Prague, knr. to £1 164 164 24.02 Helsingfors, marks 193 193.23 to £1 193 Madrid, pesetas to £1 ........... 32.805 32.095 25.22} Lisbon, scudos to £1 108} 108} 4.50} Athens, drachma 375 25.22} to £1 375 Bucharest, lei to 813 £1 820 818 Bio do Janeiro, 5 29-32 pence to milreis 5 57-64 16 Buenos Aires, 47 5-16 47.62 pence to peso 47 5-16 Bombay, pence to 1729-82 rupee 17 29-32 18 Shanghai, pence to tael 30 80 23} ' Hong-Kong, pence 23} 23} to dollar 24 Yokohama, pence 2115-16 221-64 24.58 ' to yen Batavia, guilders to £1 • 12.18} 12.14 12.107