ADDINGTON MARKET

Evening Star, Issue 21628, 25 January 1934, Page 7

ADDINGTON MARKET

(Per United Press Association.] CHRISTCHURCH, January 24. Continued interest in the store sheep sections at Addington to-day saw values tinner in all classes. A farthing rise to 7id in the lambs’ schedule put prices up in that section. Store Sheep.—There was a representative yarding, including several station lines. Young and good soundmouthed ewes were in keen demand at Is to 2s advance. Values; Good twoI tooth Corriedale ewes, 27s to 28s 9d; medium two-tooth half-bred, 23s 6d to 25s 4d; inferior, to 18s; good four-year-old Corriedale, 20s to 23s 6d; sound-mouth half-bred, 13s to 18s; sound and failing mouth, 12s to 15s; aged, 9s to 11s Gel; forward half-bred wethers. 19s to 20s 7d; merino, to 8s 6d. Store Lambs. —There was a large yarding of mixed quality, with a number of good station lines. Prices were very firm, and buyers have established a definite basis of values, and arc holding to it. Values; Good rape, to 18s 3d; medium. 16s to 17s 6d; ordinary, 14s to 15s 6d; small, 10s to 13s; good owe lambs, 17s 9cl to 19s 4d. • Fat Lambs. —An entry of 2,000 found a keen sale. An increased export schedule and keen butchers’ competition forced the values for prime lightweights up to Is. The average price was 7d to 7Jd. Values: Extra prime, ito 26s 4d; prime. 21s to 23s 6d; medium, 18s to 20s Cd; light, 15s to 17s 6d. • , Fat Sheep.—’The entry numbered 3,600. There was a good demand for prime light-weight ewes and wethers, but at unchanged prices. Heavy ewes were Is cheaper. Exporters helped to sustain the market. Values: Extre prime heavy wethers, to 33s 7d; prime lieavv. 26s“to 295; prime mediuinweigiit, 23s 6d to 25s 6d; ordinary quality, 21s to 235; light, 18s to 20s 6d; extra prime heavy ewes, to 265; prime heavy. 22s 6d to 255; prime medium-weight ewes, 18s 6d to 225; ordinary quality, 16s to 19s; light, tSs 6d to 15s 6d. Fat Cattle.—The entry was 450, including a number of lines of good steers. The market was erratic throughout and weaker. Best beef made from 24s to 26s per 1001 b; good, 18s to 20s; heavy-weight, 16s to 18s 6d; medium, 13s fid to 15s 6d; rough, 9s to 13s. Values:. Extra prime heavy to £ll 7s Cd; prime heavy, £8 10s to £9 17s 6d; prime medium-weight, £8 to £9 los; ordinary quality, £5 to £7 ; light, £3 to £4 los; extra prime heifers, to £7 2s 6d; prime, £4 to £6; medium, £2 10s to £3 13s; light, to £2 10s; extra prime cows, to £7 12s Od; prime, £3 ,10s to £5 ss; medium, £2 5s to £3 os; light, to £2. The entry of fat pigs was medium, and pork was a little easier. Bacon I sold firmly, and a little was purchased for export. Values: Choppers, 30s to £3 13s fid; baconers. 45s fid to 54 s Gd; heavy, ’sßs 6d to £3 5s 6d; extra, to £3 16s 6d; average price per lb. 4Jd to Sid ; porkers, 28s 6d to 32s 6d; heavy, 34s 6d to 38s 6d; average price per lb. 5d to sJcl. COMMERCIAL BANK OF SYDNEY A cablegram received by the Stock Exchange states: “An interim dividend lias been declared by the directors of the Commercial Bank of Sydney for the past half-year at the rate of 5 per cent, per annum, payable at the head office in Sydney on January 30. —Wellington message. COLOMBO TEA SALES Mr L. M. Wright has received the following cabled report on the Colombo tea auction of January 23; The market for common and medium grown teas again showed an advance of three to four cents, while fine teas were much dearer. The quantity auctioned was 1,210,0001 b. At next week’s sale a total of 1,410,0001 b will be catalogued. FRUIT FOR AUSTRALIA Whether the present embargo on New Zealand apples and pears will be relaxed will depend largely upon the views of the State Governments. Fruit experts from all States, except Western Australia, who recently discussed the embargoes in Canberra, reached no decision, but reported to the State Ministers of Agriculture.’ It is hoped that the State Cabinets will consider these reports and state their views in time for thpm to be submitted to the Minister of Commerce (Mr Stewart) before he leaves for New Zealand. If the States’ views are ready, Mr Stewart will submit them to the Federal Cabinet, which will decide whether it •is possible to relax the embargoes, HONOLULU TRADE BUTTER FROM WAIKATO Butter manufactured in the Waikato is stocked by most provision stores in Honolulu and is much superior in flavour and appearance to Californian butter, according to Mr C. C. Ward, of New Plymouth, who has recently returned from abroad. The butter, he said, was retailed at 42 cents, equal to Is 9d a pound, against 36 cents, equal to Is,fid, for Californian. It was very popular and had quite a large sale. The New Zealand brand was not advertised, -nor was the sale pushed in any way, and it was only by inquiry for better butter than Californian that 1 he became acquainted with the Waikato butter. He was surprised to find that this particular brand was the only brand of New Zealand butter available there. FRUIT EMBARGO LIFTED The New Zealand Trade Commissioner in Toronto has advised the Department of Industries and Commerce that Barbados lias lifted the embargo against New Zealand fruit. The embargo was originally imposed on account of the risk of introduction of the Mediterranean fruit fly.;

THE SEARCH FOR GOLD BELL-HOOPER ACTIVITIES The report of Bell-Hooper Cromwell Gold Ltd. for the week ended January 19 is as follows:—-All the men were engaged on preparatory blocking-on t stopes and blocking-out work. The centre stops through blocks N and M has advanced to within 40ft of the boundary line. The centre stope through block Y completed, and the stope is now 20ft into block F. One No. 2 stope has been driven to the boundary line, and _ the blocking out stope off No. 2 stope is now in progress southwards and parallel to the ■ boundary line in Block F. Blocking-out work was in progress in Block M and K. The contractor up to January 30 has completed a distance of 70ft in No. 2 tunnel. The return for the week was 270 z 13dwt lOgr. WAITAHU COMPANY The secretaries of the Waitahu Gold Mining Co. Ltd. report that the top boxes were washed oh Friday, January 19, and 240 z obtained. This was for twelve days’ work opening out the face. The manager considers that after another three days’ work better progress will be made, besides which the wash is improving in values. WETHERBTONES COMPANY The Wetherstoues mine was closed down on December 23 for the Christmas holidays (reports the secretary), and work was restarted on January 3. During this period six men were employed on maintenance work on the inclined shaft. This work was not completed till January 12, when work was resumed on the 835 ft level. At the 835 ft level the crosscut west was advanced 74ft to 207 ft, Te-entcr-ing the blue conglomerate at the face. The vertical shaft winch has been housed, and roofing of the exposed part of the conveyer belt is in progress. All material tor the change-over to skip haulage is now to hand, and this work will be proceeded with immediately. NEW CORNISH POINT . The following report has been . received from the New Cornish Point mine manager:—For the past fortnight the contractors have advanced tho incline drive a distance of 27ft, making a total distance of 45ft from the starting point (No. 1 chain.peg), 18ft being open cut. formerly excavated on wages. The country driving through consists of loose, fine shingle for about 4ft on the top portion of the drive. The lower part is of a more solid nature, rising as the drive advances, and from indications would appear that shortly we should have a full face in the solid country. The contractors are working on two shifts—three men on one and two men on the other. Considering the nature of the country, fair progress has been made, and when the shingle in the top cuts out better progress can be expected. A RICH MIKE The Lady Gladys Company (Kalgoorlie) paid off the remainder of the purchase, money (£9,000) from crushmgs during the option period. BULOLO DEEP BORING A report from Bulolo Gold Dredging Limited states that the four deep test holes referred to in the December report of the company were put down across a section of approximately 500 ft of the upper half of the original Bulolo area. The 53ft of gravel disclosed beneath the supposed clay bottom at 22ft averages slightly more than 20 gold cents a yard. (The equivalent of 20 gold' cents in Australian currency is approximately Is 6?d.) WORKSOP DREDGING The contractors for the dredge now being ■ constructed for the Worksop Extended Gold Dredging Company report as under:— , The bottom of the starboard pon,toon is finished. The loim deck stringer is now to hand enabling the completion of the after part of the port pontoon. The tie rods are in place, and the closing-in plank is r ady to be put into position. Two more caulkers will be employed this week. A start was made with the construction of the ladder immediately after the holidays. The building of the winch is nearly completed. ; AUSTRALIAN WHEAT POSSIBLE ITALIAN MARKET EUROPEAN SHORTAGE EXPECTED. Advice has been received' by the Commonwealth Statistician from the Italian Minister of Agriculture that the area under wheat in Italy for the 1934 season shows a decrease of 10 per cent, compared with that of last year. The condition of the crop, the advice states, has been affected everywhere by excessive rain, and consequently it : is probable that the 1934 crop will be insufficient to meet local requirements. A resumption of importations of Australian wheat into Italy appears to he likely later this year. Formerly Italy depended largely upon importations, but under the Mussolini regime a prohibitive duty, which reached approximately 4s 6d a bushel in June, 1931, was imposed on imports to encourage home production. Imports into Italy decreased from 99,000,000 bushels in 1928 to 51,000,000 bushels in 1931. The country consumes each year about 296,000.000 bushels. In 1933 there was a record harvest of 272.000,000 bushels. Australia has supplied portion of the Italian imports, but between 1927 and 1932 the amount supplied , decreased from 12.000,000 to 3,000,000 bushels. The Italian crop is not harvested'until June. Australia should, therefore, be able to supply Italian needs from the current season’s crop, the harvesting of which will be completed this month. VICTORIA NYANZA SUGAR The secretary of the Wellington Stock Exchange Association has received the following cable from Victoria Nyanza Sugar Ltd., Melbourne : Cable from plantations received January 22 roads; Tons of cane crushed to January 18, 43,000 tons; sugar manufactured, 3,050; process. 160. j Plantation very dry, rain badly needed.

THE WOOL MARKET LOHSJON SALES POSTPONED Press Association—By Telegraph—Copyright. LONDON, January 24. (Received January 25, at 11 a.m.) The wool sales were postponed owing to the fog. SYDNEY SALES MARKET FIRM Press Association —By Telegraph—Copyright. SYDNEY, January 21. At the wool sales 12,505 bales were offered and 11,495 were sold, while 548 wore disposed of privately. There was good general competition and the market was very firm. Greasy merino made to 33Jd for five bales from Yass. WOOL SALES Messrs Dalgety and Co. Ltd. advise having received the following cable from their head office. London, dated 24th inst.:—No wool sales have been held to-day owing to a thick fog. HIGH-PRICED WOOL Two new Australian records were recently made at the Sydney and Launceston wool sales. At Launceston, six bales of extra superfine merino sold for 42d per lb. At the Sydney sales a Bradford buyer paid 39id per lb for six bales of superfine ewes’ wool. This is a Sydney record for this season. The six bales of Tasmanian wool for which 42d was paid were branded L over ROC (R. O’Connor). Two addition records were made. Vaucluse and Glenesk. two Corriedale clips, produced by G. L. M‘Kinnon, each made up to 34d per lb, which is the highest comeback price; and the TG over Esk Vale brand (R. P. Gibson) sold to 32-)d, the cross-bred record. NEW GUINEA GDLD SHARES Press Association—By Telegraph—Copyright. LONDON, January 24. (Received January 25, at 1 p.m.) New Guinea Gold shares are quoted at 6s 6d. PRICE OF GOLD Press Association—By Telegraph—Copyright. LONDON, January 24. (Received January'2s, at 10 a.m.) Fine gold is quoted at £6 12s lOd per oz. America purchased the whole £BOO,OOO worth offered. DOLLAR AND FRANC Press Association—By Telegraph—Copyright. LONDON, Janary 24. (Received January 25, at 11 a.m.) The dollar is quoted at 5.004, and the franc at 79 5-8. DAIRY PRODUCE NORTH AMERICAN POSITION The New Zealand Dairy Board is advised by cablegram that the wholesale price of butter in New York last week was 20J cents per lb, with 49,500 tons of butter in stock, compared with 9,800 tons last year. The price of butter in Montreal "was 25 cents per lb. SALE OF BUTTER TO CANADA It is reported from Taranaki that, 10,000 boxes of butter, equal to 250 .tons, have been sold to Canada. Several firms are concerned in the transaction, which is a straight-out sale, the Canadian buyers to accept the risk of Governmental interference. Shipments are to be made during the current month.