AUCTION SALES

Dominion, Volume 23, Issue 30, 30 October 1929, Page 14

AUCTION SALES

TO-DAY. 91 Dixon Street, 1.30 p.m.—-Sale of household furniture (C. W. Price and Co.) 116 Manners Street, 10.30 a.m.—Sale of ladies’ dresses, etc. (C. W. Price and Co.) 14 Brandon Street, 2.30 p.m.—Sale of section and stables (H. Ernest Leighton). Otaki Gorge, 1 p.m.—Unreserved clearing sale (A. and W., Ltd.) Johnsonville, 1 p.m.—Stock sale. 246 Lambton Quay, 2 p.m.—Sale of antiques (McKenna and Co.) The Farm, Putara, noon.—Clearing sale (W.F.C.A., Ltd.) Alpha Street, 1.30 p.m.—Liquidation sale of machinery, plant, furniture, etc. (E. Johnston and Co.) TO-MORROW. Palmerston North. 12.30 p.m.—Sale of land and property, Paraparaumu (A. and W„ Ltd.) 8 Willeston Street, 12.30 p.m.—Sale of art treasures (E. Johnston and Co.) Hunterville, noon.—Spring cattle fair. Waikanae. —Stock sale. FRIDAY. A. and P. Rooms, Perry Street, Masterton.—Sale of land, 811 acres (Dalgety and Co.) Johnsonville Saleyards.—Store stock and dairy sale (W.S. and Co, Ltd->.

BANK OF NEW ZEALAND LONG-TERM MORTGAGES EXPANSION OF BUSINESS A further considerable increase In the amount of loans from the long-term mortgage department of the Bank of New Zealand is shown by the account for the September quarter, published in the Gazette. The average amount for the period was £892,250, which is £111,513 more than in the June quarter. In the corresponding period last year there was an increase, of £172,534, which is the largest addition in any quarter since flic establisghment of the special department at the beginning of 1927. During the 12 months from the third quarter of 1927 to that of 1928,; the bank’s long-term mortgage loans increased by £333,000. In the pnst 12 months the Increase has been £377,000. As the capital of the department Is £703,125, the balance of the advances has been provided by temporary transfers, to the amount of £159,125, from the ordinarv banking department. It has already been announced that the bank has decided to raise £300,000 by the issue of long-term mortgage debenture stock, the rate of interest to be £u 2s. 6d. per cent, and the currency of the debentures ten years. One of the reasons for this issue is that the bank has more ; than exhausted the funds from the issue of 74 per cent, debentures, and the new issue will cover the excu'S amount lent, and provide for the further expansion of business. HUGE DIVIDENDS STANDARD OIL GROUP Dividends for the third quarter of this vear paid by companies of the Standard Oil group amount to 65,409,901 dollars (over £12,000,000), an amount 15,341,799 dollars (over £3,000,090) greater than was distributed by the same companies in the corresponding period of-last year, accord, ing to compilations .made by Carl H. Pforzheimer and Co., specialists in Standard Oil Stock. The disbursements are 643,495 dollars (over £128,000) less than those, made in the second quarter of this year, but for the first three quarters dividends aggregated 194,564,998 dollars (over £38,900,000), compared with 156,689,978 dollars (over £31.300,000) in the corresponding period of 1928. The following table gives a comparison of the dividend disbursements of the companies for the first, second, and third quarters of the last five years:— Ist Quarter. 2nd Quarter. 3rd Quarter. Dollars. Dollars. Dollars. 1929 .. 63.101,701 66,053,396 65,409,901 1928 .. 48,927,670 57,694,206 50,068,102 1927 .. 55,873,413 54,291,615 47,728,440 1926 40,580,317 50,618,451 46,443,278 1925 fc . 34,355,618 41,905,728 35,140,584 With the single exception of 1927, when the first quarter disbursements exceeded those of the fourth quarter by 68,658 dollars, the figures for the past five years show that the last quarter of each year has shown a larger total of dividend’disbursements than any of - the three previous periods. METAL MARKET LONDON QUOTATIONS (Rec. October 29, 10 p.m.) London, October 28. Metal exchange quotations are as follow, those previously cabled being given for purposes of comparison:— ’ ■ Oct. 24. Oct. 28.

ENGLISH MARKETS N.Z. HEMP VERY DULL The following report, dated London, October 26, has been received by the Department of Agriculture from the High Commissioner's office: — Tallow. No auction owing to laek of fresh material. Spot market quiet at about last quotation. Eggs. Quotations advanced, but market quiet. Present quotations are: English, 245. to 325. per long 100; Dutch and Danish, 19s. to 245. per long 100; Belgium, 14s. 6d. to 18s. per long 100; Australian and South African, 15s. to 17s. 6d. per long 100; Polish, Ils. - to I3s. per long 100. Apples. Market firm for case varieties, American and Canadian Jonathan making 15s. to 17s. 6d., and Newton Pippin 14s. to 16s. Barrel trade slow.fi Novia Scotian Ribston Pippin, 245. to 255.; King David and Blenheim, 245. Hemp. Manila easier this week. Closing values for “J” grade, December-January shipments. £35 10s. Sisal market quiet Fair averagep quality, No. 1 sold at £3B 155.,N0. 2 at £37 ss. Good marks quoted, nominal, No. 1 £39 15s. to £4O, No. 2 £3B ss. to £3B 10s. New Zealand: Market very dull and a little easier in sympathy with Manila. Nominal comparative closing values are: Highpoints, £33 10s.; fair, £3O 10s.; common, £29. Tow, second grade, £2l 10s.; third grade, £lB, November-January shipments. BRADFORD TOPS By Telegraph.—Press Association. (Rec. October 29, 5.5 p.m.) London, October 28. The Bradford tops market is steady, with fair inquiry for Immediate requirements. According to a cable message dated London. October 26. received by the Department of Agriculture from the High Commissioner’s Office, Bradford top-makers are very firm with merino tops, but little business is doing In crossbred, except in inferior quality. Present quotations for tops are: 64’s, warp, 2s. lid; to 2s. Hid. per lb.: average. 2s. lOd. to 2s. IOJd. per lb.; 56's, 2s. 2d. per lb.; 50’s, prepared, Is. lid. per lb.; 40’s, prepared, Is. Bd. per lb. DAIRY PRODUCE SLOW The market for butter and cheese is slow, according to cable advice dated London, October 28, received yesterday by Messrs. Joseph Nathan arid Co., Ltd., from Messrs. Trengrouse and Nathan, Ltd., LTiiidon, who quote: New Zealand butter, 180 s.; white cheese, 945.; coloured cheese, 935. WHEAT VALUES By Telegraph.—Press Association. (Rec. October 29, 5.5 p.m.) London, October 28. Wheat.—’Cargoes are firm at Cd. to Is. dearer, following additional support by the American Farm Board Relief Bill. Buyers, however, are content to deal in cheap, near-at-hand River Plate cargoes, and offers of Continental descriptions. Parcels are in good demand at Is. advance for Manltobas and Cd. for Plate. A parcel ex the Port Curtis sold at 425. Futures. —London, October, 48s. 4d. per quarter; November, 485.. 2d.; December, 48s. Bd.; January, 495. 4d. Liverpool, October, Bs. Gid. per cental: December, 9s. Id.; March, '9s. &14.; Mu', 9». Hid.

GRAIN AND PRODUCE AUCKLAND MARKET NEW POTATOES PLENTIFUL Dominion Special Service. Auckland, October 29. There have been few chauges in the local grain and produce markets since last report. Potatoes bulk much less In the miuds of merchants than they did, as all shops are now dealing extensively in new season’s bought direct from the growers, so that the demand for old potatoes is considerably curtailed. Wholesalers are consequently buying cautiously from hand to mouth. There are fair quantities or Southern on the wharf or in store, but the quality Is mixed and many lines show substantial waste. Really prime quality is worth about £lO per ton. Although the recent rains have made the soil ravouravle to planting there is little demand for seed. The latest reports from Pukekohe are to the effect that recent rains have brought the crops on nicely, and it is expected that next week will see heavy arrivals. Already there Is noticeable an improvement in the quality of the lines coming to hand, although some still show the effects of the unfavourable conditions ruling earlier. Current quotations are 225. to 235. 6d. per cwt, on trucks. The market is well supplied with Cali-' fornian and Canadian onions, and prices are fairly stable at from 17s. 6d. to 19s. per case. The Waihemo brought about 30,000 cases from San Francisco last week and the Golden West is now in port with a fresh consignment of Californian. The Aorangi Is due on Monday with a Canadian shipment, and on the dimensions of this • latter will depend whether or not supplies will last out until Victorian “earlies” become available. Oats and Chaff. There has been no change in the oats market, which is firm at 4s. 9d. per bushel for B Gartons, but chaff has hardened in the South and the increase has been reflected locally. Merchants report that it Is difficult to get an order of even a few truck loads confirmed promptly, and have raised the price to £ll per ton. A small Tasmanian shipment arrived on Saturday and is selling at £9 10s. to £9 15s. per ton. If Southern supplies continue scarce at an advance it is likely that substantial quantities will be ordered from Tasmania. The wheat market continues steady and firm at 7s. 9d. per bushel, ex store. Maize comes forward freely from the Bay of Plenty district and it seems unlikely that local merchants will need to look to Poverty Bay for supplies before the end of the year, if as early as then. Gisborne merchants are offering to sell forward at ss. 3d., f.0.b., at the same time reporting that growers there are holding out for higher prices. The local demand is fairly good, as maize is on a better parity for price than wheat. Wholesale current prices are: — Pollard and Bran.—Mill prices, pollard, £9 10s. per ton; bran, £8 per ton; merchants’ quotations, ex store. Southern, £lO 10s.; Australian pollard, £ll. Bran, £9 to £lO, Oats. —Feed B Gartons, 4s. Od. per bushel; A Gartons, 55.; Clipped Dunns. 6s. 3d. to 6s. 6d.; Clipped Algerians, ss. 9d.; Clipped Gartons, ss. 3d. _ , Fowl Wheat.—7s. 9d. per bushel. Maize.—6s. 6d. per bushel. Barley—Feed, ss. Od. per bushel; seed, Cnpe barley, 6s. 6d. per bushel. Maize Meal.—l3s. Per 1001 b. Chaff.—G.B.O.’s. £ll per ton, Blenheim or Canterbury; Tasmanian, £9 10s. to £9 It) Fl ' Potatoes.—Prime Canterbury, £lO per tO Onions.—Californian and Canadian, 17s. 6d. per bag; 18s. fid. to 19s. per cate. CANTERBURY POTATOES Christchurch, October 29. There is practically no change to record In any branch of produce since the weekend report. Isolated orders for small lots of potatoes are being received from the coastal parts of the North Island. Values are practically the same as at the week-end: £6 10s. to £6 15s, per ton f.0.b.5.i., whilst values on truck are inclined to be a little weaker. These are quoted at £5 ss. to £5 10s. Not many are offering, but it is understood that merchants have small stocks in the country. The Kurow is loading at Southern ports and will be lifting potatoes from Lyttelton to-morrow. Her total cargo is uncertain, but her Timaru proportion is likely to be of fair extent. Wheat, oats, chaff and small seeds remain as last reported. Stocks of most seeds are in small compass and prices are firm. FRUIT AND VEGETABLES WELLINGTON VALUES Values of fruit and vegetables sold by Market Gardeners Ltd., of Wellington, at their market yesterday were as follow: — Fruit.—Californian oranges, 38s. Gd. to 425. 6d. case; Californian grapes, 225. barrels; Californian Jonathan apples, 19s. case; local Stunners, 10s. to 13s. caso; Winter Nells pears, 10s. to 12s. 6d. case; Die! pears, 4s. case; local lemons, 10s. to 20s. case. Vegetables.—Southern potatoes, £9 to £9 10s. per ton; Californian onions, 17s. bag; spinach, Is. fid. to 3s. 3d. case; cabbage, 2s. 9d. to 4s. 3d. case; cauliflower, 7s. Od. to 10s. case; lettuce, 2s. to 10s. Od. case; parsnips, Bs. case; carrots, 6s. to Bs. case; peas, Bd. per lb.; new potatoes, 2|d. per lb.; cauliflower, 14s. to 14s. 9d. sack; beetroot. 4s. to 7s. Cd. case; asparagus, Is. to Is. 4d. per bunch; spring onions, Is. to Is. fid. bunch; cucumbers, 4s. to 7s. Od. per dozen; rhubarb, 6s. to Bs. dozen bunches; marrows, 14s. to 18s. dozen. FAT STOCK AND WOOL LOWER PRICES THIS YEAR Discussing the outlook for the export trade of the Dominion for the current season, a Wellington business man in close touch with the frozen meat and wool trades expressed the opinion that farmers must be prepared to accept for fat stock for freezing well below those ruling a year ago. At that time, he said the freezing companies were giving up to lOd. per lb. for lamb, which was quite a halfpenny above London parity. One effect was that farmers were led into paying high prices for sheep, particularly for old breeding ewes for which 325. to 355. were given at a time when they really were not worth more than 20s. to 225. There must be deflation In sheep values this season. It Is believed that the opening price for lamb offered by the freezing companies will be under Bd. per lb., probably 7}d„ which shows a sharp decline on last year. As regards wool the opinion held by this authority was that crossbred wool compared with last, season will average 2d. to 3d. per lb. less.

Per ton. £ s', d. Per ton. £ s. d. Copper— Standard, spot .. 72 8 9 72 3 14 Standard, forward 72 15 7} 72 3 li Electrolytic 83 15 0 83 10 0 to 84 5 0 84 10 0 Wire bars ...... 81 10 0 84 10 0 Lead— Spot 23 11 3 23 7 6 Forward 23 10 0 23 5 0 Spelter— Spot 22 10 0 22 5 fi Forward 22 9 44 10 0 Tin— Spot 188 17 6 . 183 12 6 Forward 192 18 9 187 12 6 Silver— Fine, per or 23d. 15-16d. Standard, per or. , 2413-16(1. 24 15-16d.