NOTES FROM THE CITY.

Feilding Star, Volume IV, Issue 1136, 17 March 1910, Page 4

NOTES FROM THE CITY.

It is confidently predicted that the bank returns for March will disclose the fact that all the banks doinobuisness m the Dominion are now in an exceedingly strong position. Compared with the March quarter of last year, the returns should show a heavy reduction of both advances and discounts, with a corresponding increase of deposits, hoth fixed and tree. In fact, the position should be a complete reversal of that of twelve months ago. The realisations on wool and dairy produce and the solid prices ruling f or wheat and oats have had a powerful influence to this end. Money .is abundant, and the effect tw°+l SCe i l in i tllG stock ina, 4«>t, Hheie there has been a decided improvement m business done in in vestment shares; but holders and invcs- '• "i c - St,il ratl,er ™fe apart in heir■ ,d eas as to values of the favour o difficulty wha.tevo.i- in getting money at o B er rent. n]K,n first-Ha-ss country proport.es with a demand for suburban land as security. On the other hand suburban 'land-holders are not rushing into "the market! W i],<, March local wool sales i» Wellington on Friday wero de _ scribed as "an eye-opener" by ■, prominent broker, in referring to'the excellent prices realised. The WO ol sent in was, generally speaking of a low grade character. Contrary to expectations, it brought really'excellent prices—some of them better than those tor wools of a similar •character offered in February 40-, i„ it was thought that the drop of -'d on coarse wools in. London would have oeen felt in the local market, but this was not the case. Lambs' much of it seedy, brought a very good price. The slightly easier tone ot the London market iii regard to eoa.rsewjo.ls, may, in some measure, he attnoutable to the uncertainty on the part of top-makers, as to ho, - the wool-combers' strike will end. and also to tire acute labour troubles 1 h.ladelphia, winch is a most- important American wool centre. Apart from these sun spots Ihe future of wool appears to be as good as ever

Dairy Produce—The strong position of _ the butter market has been the topic of the week-. The question has naturally been asked: How Ion" will it hold? It is impossible to answer. It is known, however, that a very bad spring lias been experienced in Great Britain and North Europe, and that supplies from those quarters will naturally be restricted'; hut the rise is a rapid and a substantial one, although it is not unique. For example, in February, 1908, New Zealand butter reached 1525, but itdropped on 6th March of that x year to 1245. and before the month was ant to 112s. On 6th February of last year the price was Ills, receding to 106s on 13th March. Cheese is

strong, and has a tendency to remain so, as may be gathered from the fact that on Saturday aid was paid for' the April-May output of a'big South - Island factory. Meat.—Private cable advices received during the past' few days tend to show that there has been a decided improvement in the lamb resirkot. TTiere has also been a satisfactory increase in the price of mutton. The improved tone would appear to be due, in some measure, to the inj creased demand for lamb, which was the result of the exceedingly low prices ruling last reason. If the consumer's appetite for . New Zealand lamb has been whetted by the low prices at which the meat could he obtained last season, then the depression then existing in the market may prove, after all, to have been a blessing in disguise.—Post. MARTON STOCK SALES. Messrs Abraham and Williams - report on their Marton sale yesterday: There was a good yarding of "both sheep and cattle. The demand for sheep was on a par with last sale. Good ewes sold well. Cattle sold at late rates. 2 -and 4-tooth wethers lis 9d to 12s Id, small wethers .-Is 7d, s.m. ewes 6s Gd to 7s 4d, f.m. ewes 4s to os Gd, 4-year ewes lis 3d, fat and forward ewes 8s 7d. 2-tooth to 4-year ewes lis -kl, woolly lambs 7s 8 to Ss 9d ; forld. lambs 6s *2d to 7s to Ss 9d, forward lambs Cs 2d to 7s ; lid, culls to os. Fat cows £4 10s to :!_5, 2-year heifers £3 ls, hulls 33s c.o . £2 12s fid to £2 14s, 18-month steers ; £2 14s to £2 17s, IS-month heifers £2 2s, weaners to 26s 6d. PAHIATUA PRICES. Two-tooth and 4-tooth ewes, small, ' 10s 8d to lis Gd ; 4-tooth to 4yr ewes, j ■'-; to 12s 8d; good 4 and oyr ewes, • lis to lis 6d ; medium 4 and oyr • ewes 9s 7d to 10s 9d; sound mouth. " owes 7s to 8s 8d; aged owes, os to Gs Sd; good ewe' lambs, I'o-s; good lambs, 7s id to 7s 3d; small lambs, I 4s Gd to os Gd; cull lambs. 3s Sd to ~ Is Id; 2 and 4-tooth wethers, 12s 3d small wethers. 9s to 9s Sd; Lincoln rams, l.'gns raged Romney rams lgn to ljgns: forward bullocks, £o s ?i< fxl to £5 los; 3v'r steers £4 4s to II £o 2s 6d; 18-months steers, £3 9s- '- heifers in calf. £2 10s. £2 15s, to £3 Gs; weaner Jersey cross heifers, 375; forward cows, £3 19s: store ■"> cows. 3os to £2 os: cows ami halves, l_ C 3 19s; hulls, 2os to £2 10s. c .70HNSOXVILLE STOCK SALE. i- Messrs Abraham and Williams re- >, port on their Johnsonville sale yesteri- day as follows: We offered a'heavv d yarding of prime sheep and cattle, d which sold readily at late rates' n Quotations: Best bullocks, £8 7s 6d ». to £8 10s; light £S to £8 os, equal n to 20s (id por l.OOlbs; vealers 22s to y 28s Gd, prime heavy wethers los Id is and good quality wethers 13s 7d, mer--l- inn .wethers lis, prime heavy ewes ;t 12s Hd to 13s, good quality-ewes 12s >, 6d, plain 10s 6:1. prime woolly lambs i- 12-3 2d. shorn lambs 9s 2d to 10s 9d