Farm and Commercial Section

Dominion, Volume 22, Issue 288, 31 August 1929, Page 14

Farm and Commercial Section

LATEST REPORTS from ALL CENTRES

AUCTION SALES TO-DAY. 84 Tiber Street, Island Bay, 1.30 p.m.— Sale of household furniture (Doherty Auctioneering, Ltd.) 118 Owen Street, Belmont, 1.30 p.m.— Sale of household furniture (E. Johnston and Co.) TUESDAY. Raetihi Saleyards, 12.30 p.m.—First annual hogget fair (Dalgety and Co., and N.Z. L. and AI.A.) THE PRODUCE MARKETS

BUTTER AND CHEESE

LONDON QUOTATIONS.

Australian Press Association. London, August 29.

Butter.—Market firmer; Danish, 183s._per cwt.; choicest salted, New Zealand, L 765.; exceptionally choice, 1785.; Australian, 170 s. to 1725.; unsalteds about 2s. less* Cheese.-r-Markct firm; New Zealand: white, 90s. to 915.; coloured, fils, to 03s. No Australian.

Messrs. Dalgety and Company, Ltd., have received the following market advice from theft- head office, London, under date August 29 (last week’s quotations shown in parentheses) : — “Butter. —Market firm. . Danish, 180 s. to 18°s (1765. to 178 s.); New Zealand finest salted, 1735. to 1775. (1735. to 1755.); Australian finest unsalted, 108 s. to 170 s. (106 s. to 170 s;); Australian finest salted, 168 s. to 1725. (1665. to 170 s.); Australian G.A.Q., 160 s. to 1645. (160 s. to “Cheese—Market firm. New Zealand: White, fils, to 02s. (88s. to 80s.); coloured, 935. (90s. to 915.); spot price for Canadian white, 90s. to 91s. (87s. to 88s.); spot price for Canadian coloured, fils, to 925. (89s. to 905.); c.i.f. price for Canadian, 91s. to 02s. (88s. to 895.).” , T ., Messrs. Joseph Nathan and Co., Ltd., have received the following cablegram from Messrs. Trengrouse and Nathan, Ltd., London, dated August 29:—"New Zealand butter unchanged at 1765. per cwt.; New Zealand cheese: White, 925. per cwt.; coloured, 935. per cwt.; both markets quiet, Mr. G. A. Mills has received the following cabled advice from Messrs. A. J. Mills and,Co., Ltd., London, under date August 29:— “Butter.—The market is quiet. . New Zealand finest, 1765. to 1785.; first. 1745.;

Danish, 178 s. to 180 s.; Australian, 168 s. to 1725.; Irish, 168 s. to 1695. The Continental market is firm. "Cheese.—This market is quiet. New Zealand: white, 91s. to 925.; coloured, 935. to 945. Canadian: white, fils, to 925.; coloured, 935. to 945. C.i.f. quotations; Westerns, 925.; Easterns, 915.” BRADFORD TOPS MARKET

Australian Press Association. London. August 29. The Bradford tops market shows a sllghtiv better Inquiry, but actual business has not Improved. Quotations: 84’s, 36(1.; 60’8, 345.; 56’s, 2Sd.; 50’s, 24}d.; 46’s, 22d.; 40’s, 21(1. FROZEN MEAT Messrs. Dalgety, and Company have received tne following report from London, dated August 29:— “Mutton.—Market dull: any change In prices in favour of buyers. .“Lamb.—Market dull; any change in prices In favour of buyers. “Beef.—Market steady. "Pork.—Market steady; Bd. to Sid. • Messrs. M. A. Eliott. Ltd., Palmerston North, have received cable advice from London of the following Smithfield prices for the week ended August 30. These prices are on the “delivered” basis, that is, including storage charges, cartage, et c Best North Island prime lambs, under 361 b.. BJd.; 3fl-421b.. 7 7-Bd.; 42-501 b„ 7Jd. Ordinary North Island lambs, under 421 b.. 7 7^86.; . second quality, under 4°lh 7 7-Bd. Best North Island wethers and/or maiden ewes, 48-561 b. and 56-fMlb., 61d.; 64-721 b. and over 721 b„ 5 5-8(1. Ordin-

ary North Island wethers and/or maiden ewes, 48-s(ill>. and SG-041b„ 6 1-8(1.; 64-7-lb. and over 721 b.. 51d. North Island ewes, under G4lb„ 4jd.; 64-721 b. and over 721 b.. 41d. New Zealand prime ox beef (equal fores and hinds), 160-2201 b„ 4 5-8(1. Remarks; Bost lamb, no change; Ordinary prime lamb, l-Bd. lower. Second lamb, id. lower. Light weight wethers, id. higher. Heavy weight, no change. Lwes, no change. Beef, no change.

DOMINION PRODUCE MARKETS CANTERBURY. By Telegraph.—Press Association. Christchurch, August 30. The potato market has provided further excitement during the week. On Tuesday afternoon there was a tendency towards a decline, values for September delivery being quoted at £lO. A slipping developed on Wednesday and Thursday, and . to-day sales were made at £8 155., and in an odd case or two at £8 12s. 6d. The few days since Mondav the decline has approximated 30s. to 355. a ton. Following on the Walplata, the Wingatui, and Kawatin loaded at southern ports, and It was expected that they would take up to 80OT to 10,000 . sacks from all ports, but 8040 sacks were picked up at southern ports, nnd when the vessels arrived at Lyttelton to complete loading no fewer than 19,000 sacks were awaiting them. This means that, including the Walplata consignment, a total of 35,000 sacks were vailable for shipment between ■ Monday and Friday night. This unexpected avalanche has temporarily staggered the market. . The Wingatui sailed to-night flth 9500 and the Kawatlri will take about 7500 to-morrow. A steady business is being maintained In small seeds and prices are firm. Perennial rvegrass Is worth 6s. fid. to 7s. a bushel, f.0.b., 5.1.; Italian, ss. t»d. to 65.; cowgrass, 87s. 6d. to 90s. per cwt., and cocksfoot 13Jd. per lb. The oats and chaff markets are quiet. The report of lower quotations to Auckland from Tasmania hns weakened the 'northern chaff market. Values locally are from £6 ss. to £6 10s. a ton, f.0.b., s.l. ThT wheat market is quiet. Milling is quoted at 6s. 4d., f.0.b., and fowl wheat at ss. IOJd. DUNEDIN. Dominion Special Service " Dunedin, August 30. The milling wheat market continues to be dull. In fact, it is a number of years since there has been such a long period of inactivltv in this business. Millers did the bulk of their buying at the commencement of the season and have not been operating to any extent since. I ree wheat has remained unchanged in price

for some time, tho current quotations being ss. fid. for Tuscan on trucks at country sidings 6s for Hunters, and 6s. 6d. for velvet ’ There Is, however, not a great deal of free wheat now left In the local stores but a fair amount of fowl wheat is still available. Prices for this latter cereal have been advanced each month to cover interest and storage charges. Millers are not anxious to buy the pool wheat —ln the meantime, »t a “y rate. It is noticeable this season that the demand for seed wheat is on the light side, as farmers, owing to the wet weather have not been’able to work tip parts of their land. The demand for seed wheat is now commencing, but it is too early yet to form an estimate of the quantity that will be sown. Where farmers arc unable to plant wheat they will probably turn their attention to oats. The fowl wheat shipping market Is firm. The local market is firm at 5s lOd. per bushel, sacks extra ex store. Tho stocks held here are on the light side, but, on the other hand, the

demand la quiet. The f.o.b. price of oats at this port mar be give nat 3s. Bd.< sacks in, with B s at 3s. fid. These prices are equivalent to 3s. 2d. and 2s. 10}d. respectively on trucks at country sidings. There are, however, practically no oats offering from local farmers. ’There appears to be a little more desire on the part of holders of potatoes to sell, and, moreover, there has been an increase of consignments from the north. The demand is confined to freshly-picked overlines, and these are selling from £9 to £l9 ex store, according to quality. Lines showing signs of growth are being placedat round about £8 per ton, and small tubers at £6 to £6 10s. Supplies of chaff have been increasing, consignments coming chiefly from Central Otago and Canterbury. The demand is not great, and prices remain unaltered at £6, sacks included, ex truck, for best quality, and £0 10s. ex store for small 10 The retail demand for seeds has now commenced, and, owing to the short supply of some varieties, the market has an upward tendency. This refers particularly to ryegrass and cocksfoot. Dogstail is still slow of sale, and It appears that there will be a considerable carry over of this seed. , Fruit and vegetable report: Fairly large

supplies of Stnrmer apples are arriving from all districts. Other varieties are in short supply, and these have a ready sale. Cookers are In good supply, and have sound inquiry. Supplies of bananas are now out of wholesale hands. A cargo of Samoans is due on Wednesday ex the Maui Pomare. These will be railed from Lyttelton. The price fixed will be in the vicinity of 18s. per case, the same price as was arranged for the previous shipment. Cauliflowers firmed a little in price towards the end of the week. The demand is practically confined to choice quality. Choice lettuce still command high prices. Rhubarb meets with a keen inquiry.

HIDE AND SHEEPSKIN SALE PRICES MAINTAINED. Wellington brokers offered yesterday a good catalogue of hides and sheepskins to the usual number of buyers at the fortnightly sale. Competition for dry sheep-

skins was very keen at prices inclined to harden on last sale’s level, salted lots selling at about par with late values. Good competition was experienced for hides, the bulk of which were in very good condition, and the market showed a good deal more life, although, except for light-weight ox, which were l-Bd. to id. dearer, prices could not be quoted higher than the average of last sale. Cow hides met a keen inquiry at about a farthing advance on late rates. Tallow was firm. The range of prices was as lollows:— Dry Sheepskins—Halfbred, lljd. to 131 d.; fine crossbred, IOJd. and 13d;; medium crossbred. 9}d.' to 12id.; coarse crossbred. B}d. to 103 d.: half wools, 7Sd. to lid.; quarter wools, 7Jd. to IOJd.; pelts, Bid. to

9?d. • , , Salted Skins.—Quarter wools, is. id.; half wools. 6s. to Bs. 7d.; three-quarter wools, 7s. Cd. to 9s. fid.: full wools, 9s. to Ils.; extra large, Ils. 6d.; lambs, 4s. to Ox, 331 b. to 441 b., 7 3-Bd.; ox, 451 b. to 521 b„ 6 5-Bd. to 7 7-Bd.; ox, u3lb. to 591 b., 7d. to Bd.; ox, 601 b. to 691 b., id. to 8ld.: ox, 70lb. and over, 74d. to 8 3-8(1.; cow. 331 b. to 391 b., 6Jd. to Sd.; cow, 401 b. to 481 b.. 4, 5-8(1. to 7 7-8(1.; cow, 491 b and over, Old. to 7 3-Bd.; kip. 2ulb. to 321 b„ fld to Sd.: kip, 171 b. io 241 b., 7ld. to 9}d.; yearling. 111 b. to 161 b.. Bd. to 9Jd.; calf, 91b. to 101 b., B}d. to 9?d.: calf. 61b. to Sib., 6 1-8(1. to 14d.; calf, 11b. to 51b„ 6 1-Sd. to —ln casks, 2Ss.; in tins, etc., 235. Cow tails, lOd. to. 18d.

LIVE STOCK SALES FEILDING ; Dominion Speitai' Service. Feilding, August 30. Both sheep and cattle sold exceptionally 'well at to-day's weekly stock sale at Fellding. Fat sheep were up on Johnsonvllle” prices of this week. Fat cattle were at very high figures, the best prices for cows aud heifers being equal to 4os. Per 1001 b. There was again a oig yarding of dairy cattle, and prices were good for the good lines. Store Sheep.—Wether and ewe >oggets were patchy. Fat hoggets, woolly, -bs. to 365.: b.f.. 235. to 325. 6d.; fat ewes, 20s. 3d. to 295. 7d.; fat wethers, 30s. to „7s ; stores, wether hoggets, medium, 17s. -d. to 235.; good sorts, to 2is.; ewe hoggets, 28s to 3as. 2d.; twb-tooth wethers. ..Os. 7d. Dairy Stock.—Choice heifers, £l-. -13 ss. £l5; good lines, £9 10s. to £l3 os., inferior, £6 2s. 6d. to £8 12s. 6d.; dairy cows. in milk, £4 10s. to £6 10s.; springinef cows, £9 10s. to £<lo Ids. Fat Cattle.—Fat Jersey heifers, 'm ht , £lO 155., £ll (equal to 40s -.,E er „ l , < l°. lb Ji! fat black and white heifers, £B, £ll, fat Hereford-Shorthorn cross heifers, light, £lO 12s. fid., £l2 os. (equal to 455. per 1001 b.).

MASTEKTON. The New Zealand Farmers’ Co-op. Distributing Co., Ltd., report on their weekly sale at Masterton yesterday, -when they offered 40 head of dairy stock and 4.> pigs. Bidding at auction was slack both for tl e pigs and cattle, but they report ‘he following sales: Good springing heifers, £B, £8 5s £lO to £lO 55.; springing cows, £7 10s £8 to £9 55.: yearling Jersey heifertq "&L £4 7s. 6d. to £5; store cows, £3 12s. 6d. to £4 10s.; weaner pigs. 175.. 20s. to 225.; slips, 20s. to 225.

CARTERTON. Messra. Dalgety and Co., Lt<L, report on the Carterton sale a» follows: —A good yarding of dairy cattle and pigs and a small entry of sheep were submitted to the usual attendance of buyers. There was a keen demand tor good sorts ot dairy cows and heifers, while prices tor pigs and sheep were on a par with recent sales. Following is the range ot prices:—Best dairy cows and heifers, £ll, £l2 Ids., £l3 15s. to £l5 55.; medium sorts, £8 10s. to £10; forward cows, £6 155.; weaner pigs, 12s. tki. to 165.; good store pigs, 275.: poor stores, 10s.; good woolly hoggets, 285.; cull ewes in lamb, 17s. to 265.

Messrs. Wright, Stephenson and Co., Ltd., report: "We held our weekly sale at Carterton yesterday. We offered a fair yarding to a good attendance. Bidding was slack throughout, and only the most forward dairy cattle met with competition. Following are prices: Spring heifers, £9 Is. to £lO 10s.; store cows, £3 3s. to £4 7s. 6d.; forward cows, £6 2s. 6d.” The Walrarapa Farmers’ Co-op. Association, Ltd., report on their Carterton sale held yesterday as follows: “We offered a big yarding of pigs and cattle to the usual attendance of the public. Competition for all lots was good, and we effected a good clearance at the following prices: Good spring heifers, £lO 7s. 6d. to £l2; later calvers, £7 7s. 6(1. to £9 65.; spring cows, £9 ss. to £lO 7s. fid.; forward cows, £5 16s. to £7 7s. 6d.; cows with calves, £4 to £4 17s. 6d.; weaner pigs, 16s. 6d. to 235.; slips, 225. 6d. to 245. 6(1.; light porkers, 265. 6d.; heavy porkers, 40s. 6d. The Loan and Mercantile Agency Co., Ltd., report having offered at the Levin yards on Tuesday small entries of sheep and cattle, together with a good yarding of pigs. Competition was good, and a clearance was made at the following prices:—Medium fat wethers, 365. 6d.; fat Romney hoggets, 28s. 6d.; b.f. ditto, 255.; fat cows, £lO 25.; forward condition cows, £4 to £5; nice quality Jersey heifers, close to profit, £l5 to £l7 10s.; medium heifers, £8 to £l2 10s.; dairy cows close to profit, £lO 15s. to £l6 55.; heavy porkers, £2 16s. to £3 75.; light ditto, £2 2s. Cd. to £2 10s.; good for-, ward condition stores, 30s. to 365.; ordinary sorts, 18s. to 275.; chopper, £3 65.; small weaners. 12s. 6d. to 15s. MANGAWEKA. Messrs. Dalgety and Company, Ltd., report having a small entry of stock at their Mangaweka sale on Thursday, which sold as below:—Quotations: Small wether hoggets, 165.; small b.f. hoggets, 15s. 6d.; cows r.w.b., £4 155., £4 17s. 6d.; mixed coloured heifers r.w. P.A. bull, £6 13s. 6d.; twoyear steers, £8 13s

REORGANISATION URGED

DEPARTMENT OF AGRICULTURE '

That a thorough reorganisation of the staff of the Department of Agriculture should be effected, starting with the head, was the suggestion made by the Labour member for Raglan (Mr. W. L. Martin) in the House of Representatives yesterday. In the interests of the farmers of the Dominion the Minister should take action in this direction, lie said, because at the present time there was a feeling of insecurity, especially in the Waikato, where disease among stock bad not been grappled with adequately. Mr. Martin suggested that the DirectorGeneral of Agriculture, who had reached retiring age, should be placed on superannuation. and that a live, active, up to date officer be appointed to that position. If this were done it would inspire the farmers of New Zealand with a feeling of confidence. The pet policy of the Director-General of Agriculture was apparently “wait and see.” The usual stereotyped reply was given to nearly every request—“oflicers of the Department are busy investigating the matter.” Here, said Mr. Martin, was the Minister’s opportunity to reorganise the Department, and place it in charge of a man who would inspire confidence, especially in so far as mortality among stock was concerned.

BEEF CATTLE DEAR'IN DUNEDIN

BUTCHERS BUYING IN NORTH ISLAND

Dominion Special Service.

Dunedin, August 30. Butchers in Dunedin have great difficulty in August, September and October practically every year to obtain their full requirements of choice beef. The number of first-class cattle on offer at the weekly Burnside sales during this period particularly is not nearly sufficient to go round and the prices asked and' obtained, it is said, leave little if any profit to retailers. This season the position is more acuie than ever. To meet the Situation a number of leading city butchers have arranged to obtain supplies of beef from the North Island, and on Thursday the first shipment of carcasses was landed ex the Holmdale. The beef came to hand in splendid condition and the quality is held to be even higher than that of the best beef animals sold at Burnside. Moreover, the landed cost of this North Island beet is considerably lower than that paid for beef of a similar quality at Burnside. The butchers who have brought this beef south maintain that they have been forced to take the action they have. Further shipments are being procured from the North Island and butchers state that they intend to continue the importations so long as the Burnside market remains against them as at present. Mr. A. G. Slierriff, president of the Dunedin’Ma.ster Butchers’ Association informcd a reporter to-day that the butchers had had to pay extreme prices for all stock at Burnside for some considerable time and that these prices had left them a margin of profit. The shipment just received from the North Island was the first this vear and the shipments were to ue continued. He said that with the warmer climate experienced in the North l sla the cattle came to hand earlier in the spring and that a considerable area of the land there was more suited to cattecrowing than the land m the South I 6la nd. In Southland areas were being cut up for closer settlement and tbls .^ U ?o 7-31116-reallv too dear to be devoted to cattle rising, the holders She* in Askcd D whethe?’it was not like bringing “coM to Newcastle” to import cattle from the North Island to Otago, Mr. Sherriff ~ , butchers had no alterna- ( r ±‘ C<l Thev had really had to act in selfprotection on behalf of themselves and fhe nubßc against the htgti prices demanded for beef cattle at Burnside.

WELLINGTON STOCK EXCHANGE

YESTERDAY’S BUSINESS AND PRICES Tho following sales were reported on the Wellington Stock Exchange yesterda7: - £ d. Auckland Harbour Board, 6J per cent. (1940) 101 10 0 Bank of Australasia 1* 9-0 National Mortgage 4 (5 6 N.Z. Guarantee Corportlon preference 1 1 ® N.Z. Loan and Mercantile preference 85 0 0 South British Insurance, fl6s. fid. and 369 N.Z. Refrigerating 10s. paid (two parcels) 0 6 6 Pukemiro Collieries 3b 0 N.Z. Breweries 4 5 0 Walrarapa Farmers’ preference- 0 15 9 There was a good active demand for Government securities, and bank and financial shares of full market rates, with some shares showing a rising tendency. The 4* per cent, bonds were in demand at £lOO, the 5f per cents. (1941) at £lOO, the 5J ,per cent. (1933) stocks and bonds at £lOl ss. and the 5} per cent. (1936) stocks at £lOl 12s. 6d. and bonds nt £lOl 15s. 'Wellington Gas debentures were firm at £lOO 55., Glaxo debentures at £9l, and New Zealand Breweries bonds at 28s. 2d. Bank shares were firm with buyers of Bank ot Australasia at £l4 95., Australian Bank of Commerce at 355. 10d., Commercial Bank at 295. Bd., English, Scottish, and Australian Bank at £8 Bs., National Bank ot New Zealand at £6 18s., Bank of New South Wales at £5l 10s., Bank of New Zealand at 635„ Bank of New Zealand long term at 28s. 6d., and Union Bank at £l5 Is. 9d. Financial shares were In better demand than for some time. Goldsbrough Mort were wanted at 475. Gd., National Mortgage at 865., New Zealand Loan and Mercantile preference at £B2, New Zealand Guarantee Corporation preference at 21s. 6d., Equitable Building at £8 12s. 6d., Metropolitan Building at £l3, Wellington Trust and Loan at £7 3s. 6d„ Wright, Stephenson ordinary at 255., and Wellington Investment at 10s. lid. Gas shares were also active. Gisborne Gas were steady at 13s. 3d„ Wellington Gas ordinary at 335. and preference at 17s. Id. There was a bid of 16s. Od. for National Insurance, but other insurance shares were not in request. New Zealand Refrigerating 10s. paid were weak at 6s. 3d., but Canterbury Frozen Meat were steady at £8 ss. Mosglel Woollen were wanted at £7 14s. and National Timber at 7s. 3d.

Shipping shares were slow. There were blds of 225. for Huddart, Parker preference, 21s. for Linion Steam preference, and 555. Gd. for P. and O. deferred stock. There were few buyers for coal shares. Westport Coal were wanted at 335. fld. and Waipa Coal at 13s. 3d. There was a bid of 84s. 9d. for New Zealand Breweries, but other brewery shares were not in demand. ■ ‘ . In the miscellaneous section there were buyers of British Tobacco at 495., Electrolytic Zinc ordinary at 395. and preference at 395. Id., Howard Smith at 235. 6(1.,' National Electric fit 9s. Gd., New Zealand Farmers' Fertiliser at 20s. 3d.. New Zealand Paper Mills at 205.. Sharland and Co. preference at 21s. 6d., Walrarapa Farmers’ preference at 15s. 3d., Mount Lyell at 445. 3(1., and Waihi at 12s. 4d. ‘Yesterday’s buying and selling quotations were as under;—

SALES IN OTHER CENTRES By Telegraph.—Press Association. Auckland, August 30. Sales. —Auckland Gas debentures, 1935, GJ per cent., £103; Australian Bank of Commerce, 3Bs. 3d.; Commercial Bank of Australia (late sale August 29), 295. fld.: Bank New South Wales, £5l 10s.; Bank of New Zealand, 635. 4d.; Australian Provincial Insurance, 145.; Dalgety and Co., £l5 25.; Loan and Mercantile, £125 10s.; ditto, pref., £B5? North Auckland Farm'ers' Co-op., 35.; Renown Collieries, 15s, Od ■ Taupirl Coal (late sale August 29), 2fls.; ditto (to-day), lod.; Westport Coal, 345.; Auckland Gas, 245. 4<L (two sales); Huddart Parker, 46a.; Northern Steam 14s. 3d.; Kalapoi Woollen, 14s. lid.; Sanford, Ltdr. 18s. 5d.; Ohlnemuri, 10s. 9d.; Waihi, 13s. (two sales); Waihi Grand Junction, Is. 9d., Is. 7d. Christchurch, August 30.

Sales. —Australian Bank of Commerce, 365.; Bank of Australasia, £l4 9s. Gd. (three sales); Bank of New South Wales, £5l 10s.; Bank of New Zealand, 635. (two sales), 625. 10d.; South British, 565.; Christchurch Gas., 265.; New Zealand Breweries, 84s. lid. (two sales); Staples Brewery, 545. 3d., 535. lOd.; Beath and Company, 335..; Mt. Lyell, 445. lid.: New Farmers’ Co-op. (10s. Paid), Bs. 9d ; Quill Morris (cum. div.), 15s. Jd., 15s. 7d.; Victoria Nyanza Sugar (cum. div.), 485.; Mahakipawa, 3}d. (four sales), 3d.; Winding Creek (Is. paid), Is. 10d. (three sales). . Sales Reported.—Australian Bank ot ‘Commerce, 80s.; Commercial Bank of Australia' 295. 10d.; Goldsbrough Mort, 475. 2d. (two sales); New Zealand Farmers Co-op., “A” pref., 695. 9d. (late sale 2?th), 705.: Goldsbrough Mort, 475. 6d. (two sales): Bank of Australasia, £l4 10s. (two sales); Quill Morris, 15s. Od. Dunedin, August 30. Sales.*—Waihi Grand Junction, Is. 6d, Sales Reported.—Bank of Australasia, £l7 10s.; Bank ot New Zealand, 635. 4d.; Union Bank, £l5 25.; Commercial Bank, 295. Bd.; Goldsbrough Mort, 475. Gd.; Ohlnemuri, 10s, lOd.: Kildare, 55.; New Zealand Drugs, 705.; New Zealand Refrigerating (cont.), 6s. 5d.; Winding Creek (Is. paid), Is. 9d.; P. and O. deferred stock, u6s. Jd., 565. IQld.

COMPANY ACTIVITIES

PROVIDENT LAND AND INVESTMENT FIRST YEAR SHOWS 25 PER CENT. PROFIT. The first annual meeting of the Provident Land and Investment Corporation. Ltd., was held recently. The chairman of directors, Mr. Llewellyn E. Williams, m presenting the directors’ report, commented on the remarkable progress that had been made by the company during the first year of its existence. The operations of the company bad resulted in a net profit of 25 per cent, on the first year s working. He stated that the directors had been enabled to declare a dividend of 10 per cent, for the rear, and carry forward an amount of 15 per cent, to the reserve fund, and anticipated the declaration of a similar dividend at the end of the next six months. It was unanimously deckled to convert 30,000 £1 ordinary shares into 8 per cent preference shares and issue them immediately. This is to be confirmed at a meeting to be held on Tuesday. BANKRUPTCY CASE DISCHARGE OPPOSED The petition ot Richard Michael Walsh (Mr. W. P. Pringle) for discharge from bankruptcy, heard before Mr. J HBt ’ce Smith in the Supreme Court yesterday, was opposed by Mr. G. E. Nicholls, on behalf of one of the creditors. Counsel contended that bankrupt’s conduct prior to the bankruptcy had not been satisfactory. Bankrupt, in the witness box, denied the allegations regarding conduct, and stated that he made a bad bargain when he took over the business. He understood the liabilities were £4OO, whereas they turned out to be £l6OO. His Honour considered that a statement of receipts and expenditure for * period ot six months prior to the bankruptcy should be produced, and adjourned the matter until the next sitting of the Bankruptcy Court in order that bankrupt might comply with the order.

Buyers. Sellers. N.Z. GOVT. LOANS— £ s. d. £ s. d. 5* p.c. Ins. Stk.. 1933 101 5 0 —— 5t p.c. ditto. 1936 ... 101 12 0 — 5} p.c. ditto, 1941 ... 1 00 0 0 —- 41 p.c. ditto, 1939 and 1938 100 0 0 —— 51 p.c. ditto, 1933 ... 1 01 5 0 — 51 p.c. ditto. 1936 ... 101 15 0 DEBENTURES— Wellington Gas Co. . 1 on 5 o — Glaxo 91 0 0 — N.Z. Breweries (bonds) 18 2 — BANKS— Australasia 14 9 0 14 11 6 Australian Bank of Commerce 1 15 10 1 16 4 Commercial of Aust. 19 8 ■ English, Scottish, and 8 8 0 .... National of N.Z 6 18 0 7 0 0 National of Australasia (£10) ——. 19 14 6 New South Wales .... 51 10 0 New Zealand 3 3 0 3 3 6 Ditto (long term) .... 18 6 —- Union of Australia .. 15 1 9 15 2 9 Ditto (Melbourne register) 15 1 6 — FINANCIAL— Equitable Bldg. Co. . 8 12 6 — Goldsbrongh Mort .. 2 7 6 — Metropolitan Building Society 13 0 0 ■ ——• National Mortgage ... 4 6 0 •— N.Z. Guarantee Corp. (ord ) 0 9 9 Ditto (pref.) i.i. 116 N.Z. Loan and Mercantile (ord.) —— 127 0 0 Ditto (pref.) 82 0 0 •— Wellington Investment, T. and A 0 10 It Well. Trust and Loan 7 3 6 —• ■Wright, Stephenson 15 0 ■1 ■ - GAS— ■■■» 16 6 Ditto (contrib.) 0 13 2 — 0 13 3. 0 14 3 Wellington (ord.) ... 1 13 0 1 13 9 Ditto (pref.) 0 17 1 0 17 9 INSURANCE— National 0 16 6 0 16 8 New Zealand 2 8b South British —- 3 7 0 MEAT PRESERVING— Canterbury Frozen Meat (ord.) 8 5 0 — N.Z. Refrigerat. (10s.) 0 6 3 0 6 7 Well. Meat Exp. (ord.) — 0 8 6 TRANSPORT— ITuddart, Parker (ord.) —— 2 6 0 Ditto (pref.) 12 0 — Union Steam (pref.) . 110 •— P. and O. def. stock.. 2 15 6 — WOOLLEN— Kaiapoi (ord.) 0 14 9 Mosgiel 7 14 0 Wellington (ord.) ... — 7 10 Ditto (pref.) —— 7 16 COAL— 1 13 9 Westport-Stockton (pref.) 0 4 10 Waipa • 0 13 3 •— TIMBER— National 0 7 3 Leyland-O’Brien .... —— 1 12 6 breweries— New Zealand 4 4 9 4 ft 3 Staples and Co — 2 14 6 MISCELLANEOUS— Australian Iron and Steel (pref.) ; —• 1 2 6 British Tobacco (Aust.), , (ord.) • ••■? ■ Dental and Medical .. ' 2. 9 0 2 9 0 0 11 o Electrolytic Zinc (ord.) 1 19 0 0 0 Ditto (pref.) Howard Smith (ord.) 1 19 1 13 6 14 6 National Electric .... 0 9 6

N.Z. Drug Co N.Z. Farmers’ Fer- — 8 18 0 1 0 3 N.Z. Paper Milla 1 0 0 Sharland & Co. (pref.) 1 1 6 — Taranaki OH — • 5 a Walrarapa Farmers’ Wellington Cordage . e 15 s 0 10 0 10 • 0 Wilsons Cement .... —— 2 4 9 MINING— Mount Lyell 3 4 8 3 D A Walhl 0 12 4 —