Farm and Commercial Section

Dominion, Volume 22, Issue 261, 31 July 1929, Page 14

Farm and Commercial Section

LATEST REPORTS from ALL CENTRES

AUCTION SALES i TO-DAY. 8 Willeston Street, 1 p.m.—Sale of gowns and frocks (E. Johnston and Co.) Railway Social Hall, Waterloo Quay.— Sale of lost and unclaimed luggage (J. W. Foster and Co.) Halcombe Road, near Feilding, 12.30 p.m.—Clearing sale of stock (N.Z. L. and M.A., Ltd.) Johnsonville, 1 p.m.—Fat stock sale (W.S. and Co., Ltd., and A. and W., Ltd.) 12-14 Manners Street, 10.30 a.m.—Sale of balance of . unredeemed pledges (Doherty Auctioneering, Ltd.) TO-MORROW. Upper Hutt, 1 p.m.—Stock sale. 8 Willeston Street, 1.30 p.m.—Sale of carpets (E. Johnston and Co.) FRIDAY. Carterton, 1.30 p.m.—Sale, account late W. Abbott, freehold property (W. C. L. Baskiville). Johnsonville Saleyards, 1 p.m.—’Store stock and dairy sale (W.S. and Co., Ltd.) POTATOES DEARER IN SYDNEY Sydney, July 30. The wholesale price of Tasmanian Brownell potatoes advanced by £2 to £22 a ton to-day.

THE PRODUCE MARKETS BUTTER AND CHEESE .. ■ ■ Messrs. Dalgety and Company, Limited, have received the following market advice from their head office, London, under date July 29:—Cheese, Is. to 2s. per cwt. lower. Amalgamated Dairies, Limited, have received the following market cablegram from their London office, dated July 27:— Butter. —Our prices (Anchor 1745.) and market generally unchanged, but some signs of improving demand now appearing. Danish, 1725. spot, 1665. f.o.b. Deliveries. New Zealand 726 tons, stock 8249. Retail unchanged. . , Cheese: White, 875., 88s.; coloured, 915., 925.. Market very slow. Canadian, white 875., 88s., coloured 90s. flls., spot. Retail unchanged. Messrs. Joseph Nathan and Co., Ltd., have received the following market report from Messrs. Trengrouse and Nathan, Limited. London, dated July 29:—New Zealand butter, 170 s. to 171 s. per cwt.; New Zealand cheese, white 86s. per cwt., coloured 90s. per cwt. Both markets quite slow. NEW ZEALAND MARKET REPORTS Dominion Special Service. AUCKLAND. Auckland, July 30. The potato market is still In an unsettled condition, and it would not take much to bring about a marked alteration In values. Although supplies are more plentiful than they were a week ago, and prices . have eased a shade, there are no large stocks on hand. Even if local dealers were Inclined to assure their future trade by buying forward, they are dissuaded by the problem of quality. Brown rust Is the chief trouble, and It is proving this season a greater bugbear than blight. The onion market is chiefly supplied at present from Pukekohe, and growers there who have been able to keep their stocks In good order are realising excellent prices. A fresh shipment of Japanese has arrived via Sydney, and should be available to the trade to-morrow. The price remains steady at 17s. 6d. per cwt. ex store. There Is no change in the wheat market, though prices are flrm, and Southerners are endeavouring to obtain a little extra Just now to pay for storage charges Incurred since harvest time. The current rate Is 7s. 7d. per bushel ex store. There Is no alteration to record in oats and chaff. The oats market Is steady, but quiet. Chaff, on the other hand, is extremely firm, and merchants are finding difficulty In obtaining any quantity of really prime quality. New season s maize Is now obtainable In ample supplies from the .Bay of Plenty, and values are fairly stable at 6s. Od. per bushel ex store. The demand is good. The recent cold and wet snell has increased the demand for bran, but there Is no difficulty at present In fulfilling orders, as stocks on hand are substantial. Pollard Is still being ordered from Australia to supplement Dominion supplies. Wholesale current prices are as follow: Sharps and bran—Mill prices: Sharps £9 10s. per tori, bran £8 per ton; merchants’ quotations, ex store: Southern and Australian pollard, £lO 10s. to £lO 155.; bran £8 10s. Oats: Feed B Gartons 4s. 6d. per bushel, A Gartons 4s. 9d.; clipped Dunns 6s. 3d. to 6s. 6d.. clipped Algerians ss. Od., clipped Gartons ss. 3d. Fowl wheat, 7s. 7d. per bushel. Maize, old, ex store, 75.; new season’s 6s. 9d. .Barley: Feed, 55.. 9(1. per bushel; seed Cape barley 6s. 6d. per bushel. Maize meal 14s. 6d. per 1001 b. Barley meal 13s. per 1001 b. Chaff, G. 8.0.5., £lO per ton, Blenheim or Canterbury. Potatoes, prime Canterbury, £ll 10s. per ton. Onions: Local 17s. to 17s. 6d. per cwt, Japanese 17s. 6d. CHRISTCHURCH. By Telegraph.—Press Association. Christchurch, August 30. The potato market Is not so excited as last week, consequent on fairly substantial supplies going north. Inquiries from Auckland have declined, and to-day the market Is inclined to be a little easier. Both Auckland and Wellington have experienced a substantial advance, but this Is regarded as a reflection of the local movement of the week end. “Prompt” potatoes are quoted at £7 17s. 6d., f.0.b., 5.1., buyers, and £8 sellers, and August-September £B, approximately 2s. 6d. less than at the week-end. Farmers are being offered £6 12s. 6d. to £6 15s. on trucks, and there Is more disposition to meet the market than a week or two ago. Substantial quantities went north during the week. The Kaiwarra on Saturday loaded 5700 sacks at Lyttelton, making a total cargo, Including Tlmaru, of 7200 sacks. For the week ending July 27 the shipments from Lyttelton totalled the very substantial quantity of 10,180 sacks, as follow:—Auckland 5733, Wellington 4120, Napier and Gisborne 2368, West Coast (North Island) 3526, West Coast (South Island) 427, For the season to date a little over 200,000 sacks have been shipped from Lyttelton, Auckland taking approximately 80,000 sacks and Wellington 61,000. These figures show that tubers have come to hand very freely. The Walplata Is now loading at Tlmaru, and Is expected at Lyttelton on Thursday or Friday. Nominally she is a July boat, and will be taking a good cargo of this month's deliveries. Onions are very flrm, being quoted at £7 10s. on trucks. All other lines of produce are quiet LIVE STOCK SALES ’ GREYTOWN. Messrs. Dalgety and Co., Ltd., report on the Greytown sale as follows:—A small entry of sheep, comprising a few pens of aged ewes and a pen of hoggets, was submitted to a fair attendance of farmers. Competition was on a par with recent sales a clearance being effected at the following prices:—Wether hoggets, 255. 6d.; aged ewes, r.w. S.D. rams, 14s. 7d, to 255. PAHIATUA. The W.F.C.A'., Ltd. (stock department), report on their weekly Pahlatua sale held yesterday as follows: —We offered a good yarding of sheep and a few dairy cattle to a good attendance of local buyers, There was an improved demand for gpod breeding ewes, but aged and Inferior lots were hard to quit. We quote: 70 2-tooth to 5year ewes, r.w. S.D. rams, 325. Id.; 27 ditto, 305.; 41 aged ewes, r.w. S.D. rams, 18s. 7d.; 120 ditto, 18s. 3d.; 7 ditto. 175.; 18 ditto, 14s. 6d.; 73 small 2-tooth ewes, r.w, Romney rams, 265. 6d.; medium ewe lambs, 245. to 28s. 6d,; empty cows, £4 ss. and £4 12s. 6d.; forward cows, £5 Is.; empty heifers, £3 10s. to £4 2s. 6d.; springing cow, £8 2s. 6d. RAETIHI. Messrs. Dalgety and Co., Ltd., report as follows on their Raetihi sale, last Friday:— A fair yarding of sheep and a small yarding of cattle was submitted to a good attendance. Good sheep sold well up to late rates, as also did the cattle, but falling mouth ewes, r.w. S.D. rams were hard to quit. In conjunction with the New Zealand Loan Company were offered several horses on account of the Waimarino County Council, and these met with keen competition. The following la a range of prices:—fltooth and 4-year ewes, r.w. Romney and Lincoln rams. 345. 2d.; ewe hoggets, to 335. 6d.; wether hoggets, to 245. 6d.: fltooth wethers, 305.; springing heifers, £6 12s. 6d. to £7 55.; dairy eows, £7 to £7 10s.; empty heifers. £5: draught mares, in work, £39 10s., £32; aged gelding. £l2; hack. £ll 15s. CANADIAN WHEAT POOL INITIAL PAYMENT FOR THIS YEAR’S CROP Australian Press Association, Ottowa. July 29. Mr. Ramsay has officially announced that the Canadian wheat pool's initial payment for the 1929 cron has been fixed at one dollar per bushel. “A dollar per bushel has been the initial price paid by the pool since the Canadian pool was form ed in 1924,” lie said, "with the exception of last year, when the Initial payment was lowered to 80 cents. We are satisfied that the step then taken by our Central Board has been amply Justified by the marked development during tiic recent mouths.”

SALE OF PEDIGREE AYRSHIRES DISAPPOINTING FINISH Bv Telegraph—Press Association. Invercargill, July 30. A combined sale of pedigree Ayrshires of Mr A. M. Weir’s Ivanhoe Stud and Mr T G. Dobble’s Spring Bank Stud was held at Edendale to-day. The demand for Mr. Weir’s stock was keen throughout, and the average for the stock offered and sold was about 31 guineas, bulls averaging 33 guineas and heifers 27 guineas. Top price was 120} guineas for a yearling bull which was purchased for Mr. T. G. Rawlings, of Otorohanga. The highest-priced heifer was secured by Mr. F. Mills, junior, of Hawera, whose bid was 50 guineas. Mr. Dobble’s stock were all of high quality, but It was apparent towards the end of the sale that the demand was scarcely equal to the number of animals offering, and the prices obtained by Mr. Dobble were therefore a trifle disappointing. Cows averaged 18 guineas and heifers 18 guineas. * WELL-KNOWN CLYDESDALE STALLION DEAD LAST REPRESENTATIVE OF FAMOUS STRAIN. Dominion Special Service. Dunedin, July 30. The well-known Clydesdale stallion Baron Bold, who has left his mark on the draught horse stock of Otago and Southland as well as of other parts of New Zealand, and even Australia, died this week at the property of his owner, Mr. James Patrick, of Waimate. Baron Bold, by Baron’s Price, is the last representative of the famous Scottish strain founded by his sire. He was brought to New Zealand from Australia as a four-year-old, and for 22 years stood on the Taierl, and latterly at Waimate, He had a brilliant show ring record, which is being successfully carried on by his progeny. He died from old age. LONDON BUTCHERS FINED ' ARGENTINE LAMB SOLD AS NEW ZEALAND. Australian Press Assn. —United Service. London, July 29. At the instigation of the New Zealand Meat Board, Messrs, Wicke and Son, butchers, were fined £2O and £2l costs for supplying the Greenwich Board of Guardians with Argentine lamb as New Zealand. WELLINGTON STOCK EXCHANGE YESTERDAY’S BUSINESS AND PRICES The following sales were reported on the Wellington Stock Exchange yesterday : — £ s. d. Bank of New Zealand 3 1 3 National Insurance (three parcels) 016 0 Government securities were flrm. The 4} per cent, bonds (1939 and 1938) were wanted at £lOO, and the 1941 maturity at £99 17s. 6d:, the 5} per cent. (1933) bonds at £lOl, arid 1936 stocks at £lOl 10s., and bonds at .£lOl 10s. 6d. Wellington Gas debentures were in demand at £lOO, and New Zealand Breweries: bonds at 28s, Bank shares were slow. There were bids of 355. 3d. tor Australian Bank of Commerce, 6ls. Idi for Bank of New Zealand, and 28s, 3d. for Bank of New Zealand long term. Sellers quoted £l4 14s. for Bank of Australasia, £27 ss. ex dividend for Commercial Bank of Sydney, £8 9s. 6d. for English, Scottish, and Australian Bank, £9 16s. for National Bank of Australasia £5 paid, £5l 17b. 6d. for Bank of New South Wales, and £l5 Us. for Union Bank. N.Z. Guarantee Corporation were steady at 9s. Id., and Goldsbrough, Mort at 465. Bd. There were buyers of Wellington Deposit at 10s. 6d., National Insurance at 15s. lid., Wellington Gas ordinary at 335., and Waipa Coal at 13s. 6d- Wellington Meat Export were firm at 9s. 6d., Canterbury Frozen Meat ordinary at £8 155., and New Zealand Refrigerating 10s. paid at 7s. sd. New Zealand Breweries’ shares were firm at 83s. 3d., Crown Brewery at 75., and Ward and Co. at 335. There were buyers of British Tobacco at 48s. 2d., Electrolytic Zinc ordinary at 38s. 3d. and preference at 395., cum dividend, Howard Smith at 245., National Electric at 9s. 6d., New Zealand Paper Mills at 205., Taranaki Oil at 2s. 6d., Walrarapa Farmers’ preference at 14s. 9d., and Mount Lyell at 425. 9d. Yesterday’s buying and selling quotations were as under:—

SALES IN OTHER CENTRES By Telegraph.—Press Association. Auckland, July 30. Sales—lnscribed stock, 1933, 5% per cent., £lOl 55.; Dalgety and Co. (late sale, Monday), £l5 3s. Od.; Grey Valley Coal, 255. Cd.; Renown Collerles, 175., preference 3s. 2d.; Waipa Coal, 155.; Auckland Gas (con.), 17s. 9d.; Northern Steamship, 14s. 2d., 14s. 3d.; P. and O. (deferred stock), 555.; Colonial Sugar, £57 10s.; Electrolytic Zinc, 38s. (Id.; Sanford Ltd., 18s. 3d., 18s. 3d.; Wilson’s Cement, 445. 3d.; Albudnla Mining Is 6d. Christchurch, July 30. Sales—Goldsbrough Mort, 465. 9d., 465. Bd.; N.Z. Guarantee Corp., 9s. 3d.; N.Z. Refrlg. (10s. paid), 7s. 5d.; New Zealand Breweries, 83s. 3d.; 83s. 4d. (four), 83s. 4d.; Mt. Lyell, 435. (two); Mahaklpawa, (two); Winding Creek (tld. paid), 2s. 3d. Sales reported—National Insurance, 16s. (three); P. and O. deferred stocks, 555. (Id.; British Tobacco, 48s. 6d. (two); Mt. Lyell, 435. * Dunedin, July 30. Sales reported—New Zealand Drugs, 775. 9d. (late sale yesterday); New Zealand Breweries, 83s. lid.; British Tobacco, 48s. lid.; K. S. and A. Bank. £8 Bs.; 4% per cent inscribed stock (11138), £100; 5% per cent. Soldiers’ Bonds (1933), £lOl 55.; Okarito, 1s 7d. prem : Electrolytic Zinc (prat), ails. W- (cum. div.).

SURVEY OF PRODUCTION

According to a League of Nations compilation on economic conditions In 1928, the aggregate production of wealth during the last decade increased more rapidly than the world’s population, and wealth per head is now greater than before the war. It is stated 'that th? output of industry in Canada, France, Poland, and Russia rose steadily, the annual index for France having risen by 16 per cent. In Canada and Poland record figures were registered In nearly every branch of production. The Russian official index averaged 26 per cent, higher. In the United States there was a general advance ot about 4 per cent., which was considered to be a little higher than the normal rate of expansion. The volume of Industry in Germany, the United Kingdom and Sweden fell off slightly, and in Germany, Russia and the United Kingdom there was a substantial increase In the number of persons out of work. British exports were over £14,000,006 higher than in 1927; and her imports nearly £21,000,000 lower. In Germany the total trade rose by nearly 6 per cent, and the Import surplus was less than half of the four preceding years. The foreign trade of France and Italy developed in an opposite direction, exports declined and imports increased. Agricultural production on the whole increased appreciably in volume, due rather to higher yield than to any significant increase in land under cultivation. The wheat crop was the largest since the war; record quantities were harvested in Canada, and there were exceptionally good harvests in the United States, the Argentine and Australia, but Russia and India had to supplement their supplies from abroad. Trade continued to develop in all the leading commercial countries of South America; it was particularly striking in Chileand the Argentine: Indian exports showed a slight recovery. In New Zealand record figures were reached; on the other hand the exports from Australia were slightly lower than in 1927. The rate of advance in industrial production tended to slacken: the world production of coal was over 35.000,000 tons less than in 1927. World production of crude oil increased in 1928 by 3 per cent. There were remarkable developments in Colombia and Venezuela. In 1923 Colombia produced 400.000 barrels of petroleum, and In 1927 14,000,000. Venezuela, which produced 4.000,000 barrels in 1923. produced 64,500,000 in 1927. Venezuela Is now the second largest oil producing country in the world. COMPANY ACTIVITIES . GATES, LTD. At the annual meeting of Gates, Ltd., hold yesterday afternoon, Mr. D. McGowan was re-elected chairman of directors for the ensuing twelve months. It was decided to pay a further dividend of 2} per cent., making 10 per cent, for the year At the conclusion of the meeting those present were entertained at afternoon tea, when they met the new manager (Mr. Crewdson). At’the meeting, the chairman and directors made mention of the valuable assistance given the company by Mr. J. Fairburn (formerly manager and director), who was cordially thanked for his continued Interest In the business. EXCHANGE rates LONDON ON NEW ZEALAND The Union Bank of Australia, Wellington office, has been advised from London that the following rates of exchange, London, on New Zealand, come Into force on July' 29:— Negotiating Bills on New Zealand.. Demand 35/-% discount 30/- d/s 46/3% discount CO/- d/s 57/6% discount 90/- d/s 68/9% discount Selling Drafts and Telegraphic Transfers on New Zealand. Demand 15/-% discount Telegraphic .... 10/-% discount FOREIGN ITEMS •CHICAGO WHEAT QUOTATIONS. Australian Press Association. (Rec. July 30, 5.5 p.m.). Chicago, July 29. Wheat futures: July, 1 dollar 41 5-8 cents, per bushel; September, 1 dollar 4i} cents.; December, 1 dollar 54 7-8 cents. AUSTRALIAN LOANS IN. NEW YORK. Australian Press Association. New York, July 29. Quotations o' Australian loans on Wall Street to-day■ Commonwealth a p.c., January-July. 1950. 044; 5 p.c., March-September, 19u7, 94}; a} p.c., Mav-November, 1956, 86. New South Wales: 5 p.c., FebruaryAugust, 1957, 92}; 5 p.c., April-October. 1958, 92J. „ t 4 , Queensland: 6 p.c., February-August, 1947, 102}; 7 p.c., April-October, 1912. no sale. THE METALS MARKETS. Australian Press Association. (Rec. July 30. 7.35 p.m.) London, J uly 29. Copper.—Standard, on spot, £72 18s. Od. per ton, forward delivery £72 14s. 4}d.; electrolytic, £B4 ss. and £B4 155.; wire bars, £B4 15s. Lead, £23 and £23 Is. 3d. Spelter, £25 ss. and £25 7s. 6d. Tin, £214 17s. 6d. and £2lB 12s. 6d. Silver.—Standard, 24 3-Bd. per ounce; fine, 26 3-Bd. CUSTOMS REVENUE. The Customs revenue collected at the port of Wellington yesterday totalled £22.892.

Buyers. N.Z. GOVT. LOANS- £ s. d. £ a. d. 54 p.c, Ins. Stk., 1930 101 10 0 44 p.c. Bonds. 1941 .. )9 17 6 44 p.c. ditto, 1939 and 1938 100 0 0 44 p.c. ditto, 1930 .... — 99 12 6 54 p.c. ditto, 1933 .... 101 0 0 __ 54 p.c. ditto. 1038 .... 100 10 6 DEBENTURES— Wellington Gas Co. . 100 0 0 N.Z. Breweries (inscr. stock) * t 1 9 o Ditto (bonds) 1 8 0 Palmerston North Boro., 6 p.c., 1045 105 10 0 New Plymouth Harb. Board, 5 p.c., 1939 . 95 5 0 BANKS— Australasia (£5) .... 14 14 0 Australian Bank of Commerce 1 15 3 1 16 0 Commercial Banking Co. (Sydney) 27 5 0 English, Scottish, and - - - 8 9 0 National Australasia (£5) - ■ - 9 16 0 New South Wales ... — 51 17 6 New Zealand ........ 3 1 1 — Ditto (long term) ... 1 8 3 1 8 9 Union of Australia .. — 15 11 0 FINANCIALGoidsbrough Mort ... 2 C 8 2 6 11 N.Z. Guarantee Corp. 0 9 1 0 9 6 Weil. Deposit & Mortg. 0 10 6 GASWellington (ord.) ... 1 13 0 —— INSURANCENational 0 15 11 0 18 1 MEAT PRESERVING— Canterbury Frozen Meat (ord.) 8 15 0 —— N.Z. Refrlgerat. (10s.) 0 7 5 0 7 6 Well. Meat Expt, (ord.) 0 9 6 —— WOOLLENKaiapoi (ord.) — 0 14 3 Wellington (ord.) .... — 7 7 6 COAL— Walpa 0 13 8 — TIMBER— -I TT 0 9 6 BREWERIES— I'wAWti 0 7 0 New Zealand 4 3 3 — Staples and Co ■ ■ . 2 15 6 Ward and Co. (In llq.) 1 13 0 —— MISCELLANEOUS— C. M. Banks (ord.) .. —— 1 2 0 1 ■ ■■ 0 17 6 British 'Tobacco (Aust.) '2 8 2 2 8 •7 Colonial Sugar 58 0 0 Electrolytic Zinc (ord.) 1 18 3 1 19 0 Ditto (pref.) 1 19 0 •—• Howard Smith (ord.) 1 4 0 «■—« National Electric ... 0 9 6 — N.Z. Farmers’ Fer- — 1 4 6 N.Z. Paper Mills 1 0 0 1 0 6 Tarauakl Oil 0 2 6 —— Wellington Cordage Co. —— 0 17 6 Wairarapa Farmers’ (pref.) Wilson’s Cement 0 14 9 2 ~4 6 MINING— Mount Lyell 2 2 9 2 3 6 Walhi Grand Junction — 0 1 7