FARMING AND COMMERCIAL.

Manawatu Standard, Volume XLVI, Issue 164, 12 June 1926, Page 5

FARMING AND COMMERCIAL.

NOTES BY PLOUGHSHARE. There are many small but important items which the farmer should attend to during the winter months; There are his fences which requiro repairing, and ho would bo wise to get on with this work right away. There is probably a little concreting to bo done in the shed. Before the cows come in again, it is a wise plan to have his calf shelters in good order, roady for the young calves in the early spring. It is a good idea also to have his feeding bails for his calves erected and repaired, so that everything in that direction is ready when the cows come in with a rush. Unless these little jobs are not done beforehand, they very often are forgotten later on during the season. Pigs should be well sheltered and given warm bedding. There is always plenty of drainage work that can be done in this district. STOCK SHOWING. There are two classes of people who are concerned in the benefits of a stock show. These are those who show and those who go. With those who 6how it is one of the best means of advertising there is as it enables the breeder to place his' stock before those people to whom it is of the greatest interest. It also enables one to indulge in a most wholesome competition. Although there are many who, as spectators, merely derive entertainment from tho show, at tho same time there aro also many who attend for the sole reason that they can learn a considerable amount from observing the live stock exhibited. To such people the show is an exposition of market and breed types and of the rpost approved systems of breeding and methods of feeding. Many an ambitious stockman gleans information and has demonstrated to him the best means of attaining success. Tho educational feature of shows is being appreciated more and more each year by the farmer in general. ABSENCE OF ONE OR MORE ESSENTIAL PLANT FOODS. Almost every soil contains in some ( form of chemical combination all the mineral foods necessary for growth. These are phosphorus, potassium, calcium, sulphur, iron and magnesium, including nitrogen. Tho_factor which determines tho degree of fertility of a soil in respect to plant food is not the total quantity of plant food present, but the amount that is soluble in soil water, or by tho solvent action of plant rootlets. It so happens that many soils . contain ample supplies of phosphates, potash and nitrogen along with the other necessary constituents, yet they can only support a- meagre vegetation, tho reason being that either one or more of these essential foods is not present in sufficient quantities in a soluble form for . the requirements of a vigorous plant growth. This form of sterility provided other conditions of plant life are fulfileld, can obviously be made good by the addition of the deficient foods in the form of artificial manures. In a soil where thero is an abundance of all plant foods except tho supply of available nitrogen, until sufficient nitrogen for all purposes is supplied the plant cannot use to the best advantage tho plentiful supplies of, the other available foods. It should be borne in mind that the use which a plant can make of the different foods available in a soil is regulated byt that food which is present in least quantity. THE EFFECT OF IRON ON FERTILITY. All drainage water contains iron. Tho dissolving out of iron from the soil is strikingly seen in sandy soils; here the quantity of iron present is not great, but it produces a considerable colouring effect 1 by reason of the small amount of surface it. has to cover.' When it is dissolved out, the soil becomes white. Iron is essential for the growth of the plant, but the amount required is, very small, and most soils contain sufficient for plant nutrition... There is no reason to suppose that the iron compounds in normal soils directly affect tho plant one way or tho other. The nature of iron compounds depends on tho supply ofL oxygen; ferric (red) compounds indicate good aeration, while ferrous (green) compounds indicate dcfeclivo aeration. Ferric.compounds are therefore one of the signs of a fertile soil. They themselves contribute to fertility, hut rather in virtue of their physical than their chemical properties. They possess some of the properties of humus, but to a less extent; thus they absorb heat and help to warm (lie soil. They have also considerable power of retaining water;, they modify;.the stickiness of clay, and so enable the soil to he worked moro readily. Red soils are almost always noted for their fertility. Ferrous compounds aro a sign of defective aeration and therefore of infertility. They impart a green, blue or grey colour to the subsoil, changing at the surface by weathering to brown. Liming has bden found to counteract the injurious effects from this soil. GENERAL NOTES. A milking cow produces about 20,0001 b of solid manure and 80001 b of liquid manure per year. Bad separation is often caused by tho separator being run at varied speeds. The speed of the machine should always be uniform. The provision of an ample food and water supply at all seasons of the year is essential to successful breeding operations. Where possible disinfectants aao best applied by means of a fine spray pump. This insures their even distribution and penetration into the smallest, cracks and crevices, which may harbour germs of disease. In order to assist drainage on still clays deep cultivation is needed and, for this purpose, subsoil ploughing, performed a year or two after drainage, answers very well. Tho soil is opened up, and water percolates through it more easily. Cows meanly fed and ill-cared for when they aro carrying their calf will produce a calf with a weak constitution, which will be hard to shake oil during after-life. In making up a ration for stock it is necessary to consider the composition of the foods used before a well-balanced ration can be arranged. After land has been cropped for a series of years it becomes foul with weeds, and exhausted of its availablo plant food. In the spring time tho colour ot tho soil has an effect on germination. Black . soil absorbs heat, whilst light coloured soil reflects heat, therefore soil well supplied with humus, other things being equal, would germinate seeds quicker than a clayey soil. It cannct be 100 firmly impressed upon stock owners that a very considerable amount of the annual loss of 6tock in this country is duo to carelessness in management. Unless a cow is in perfect health she cannot be expected to return tho maximum amount of profit. Early mowing, securing a good aftermath, chain harrowing, moderate sized paddocks and phosphate top-dressing are the main factors concerned in dairy pasture management. There are two grasses which when formed into pure pastures act as summer and winter annual forage crops respectively. These plants are paspatum and prairie gross. The first takes (he place of a summon annual, and the Jatler that of a winter annual. Pastures of these plants sown pure remain pure for many years, providing that the. ground on which they arc grown is suitable for their proper development. For ■ all practical purposes palatability can be used to signify good nutritive quality, in feeds. The reason that usually the unpalatable species of grasses in a pasture are moro likely to obtain general possession of tho ground than the palatable species, is that in many cases the most relished ones aiv unable to seed, whilst with the rejected grasses the case is reversed. Potash tends to prolong growth in cereals and to hasten maturity ill mangolds. One of tho most noticeable effects of phosphates is the extraordinary increase in palatablcncss of pastures top-dressed with it. Front a business pbint of view no subject is m«.re important in connection with farm animals than the otic of food and I feeding.' ' Humus supplies food to the plant; at- I tracts nourishment from the ait, and re- i

tains it for the plant. Owing to its porosity. l and solubility it allows a,ir to penetrate to the germinating seeds, and plant roots; it -facilitates cultivation. Casein forms about 80 per cent, of tho total proteid matter in'milk. Lime is a necessary plant food, and were it present in the soil to a less extent than is actually the case would be just as valuable a manure as the other different manures. There are soils though, and they aro not fow, • which aro actually lacking in sufficient lime for supporting plant growth and the addition of this ingredient would, directly promote the growth on this land. As potash manures have often bieen found to give a better result on pastures during the sqoond year than the first, it. is recommended that the best time for application is in the autumn. When a 6low-acting manure is applied, its influence will probably bo felt for a number of years. A crop which grows quickly and consequently occupies the ground for a comparatively short time, will naturally require a richer soil and therefore a moro liberal treatment with manure than one. whose growth is more graduated. HIDES, SKINS AND TALLOW SALES. The fortnightly sales of sheepskins, hides and tallow were held yesterday, at Wellington. A large catalogue of 'all descriptions was offered to a fully representative attendance of buyers. The demand Tor all good parcels of sheepskins was keen, and prices generally for dry skins were par to id per lb lower than late rates. Salteds were slightly easier. The inquiry all .round for hides was good, especially for heavy ox of good substance, which sold par to yd per lb better than previous quotations. Medium, and light-weights sold well up to late rates, while kips, yearlings and calf were down -Jd per lb. Cut, slippy and inferior lots were hard to quit, and sold at low rates. The tallow market was firm at late rates. Good mixed lots came in for special attention. The following is the range of prices: i Sheepskins: Halfbred lid to Hid, fine crossbred 9:{d to llid, medium to coarse crossbred SJ-d to 10Jd, short to half-wools 7Jd to 9-Jd, lambs CJd to llid, dead and damaged GJd to 10-jcl, inferior and badly damaged 3d to 7id, pelts 4-Jd to 9icl, damp, salted and green 4s to 8s 2d, pelts, salted, not quoted, lambs, salted, 2s to 5s 3d. Hides: Ox, extra heavy, 70jb and over 9gd to 10Jd; ox, heavy, 591 bto 0911) 8d to I O ld; ox, medium, 531 bto 58!b BJd to Bfd ; ox, light, 451 bto 521 b GJd to GJd; cut, slippy and inferior 2id to 7id; cow, heavy, 531 b and over sjd to 7id; cow, medium, 451 b to 52 lb 5d to 5-id; cow, light,'33ll) to 441 b 5Jd to 5Jd; cut, slippy and inferior 2id to 5Jd; bull, stag, 2’,d to sjd; yearlings, 111 b to 1G1!> GJd to GJd; yearlings, 1711) to 321 b G.,d to 7d; calf, superior, up to 1 (31 b not quoted ;_ calf, mediihn to good, up to 101 b id to 10. : ;d; calf, damaged, up to 101 b, 3d to Bid. Tallow: In casks 25s Gd to 345; m tins, 9s to 25s per cat. Sundries: Horsehair 18d per lb; cow tails 12d. WHEAT AND OTHER PRODUCE. LONDON, June 10. Wheat. —Cargoes are in fair demand for those near at hand, but business is slow, a bullish report from AVashington being already discounted. Parcels are in quiet request, with occasionally a better demand. Sales have been made at 58s Gd to GOs per quarter. Liverpool futures are quoted: .July, 11s GJd; October, 10s SJd. Better business is doing in spot trade at rather firmer prices. Australian, ex ship G3s. i Flour is quiet. Australian, ex store, 4Gs 9d. Oats are firmer. A; grade Cartons, 33s to 345. Peas. —Blues arc meeting with more inquiry. Tasmanian, 240 s to 3GOs; New Zealand, 240 sto 3JOs. Maples are in keen demand, and stocks are small. Tasmanian, 95s to 100 s; New Zealand, 90s to 95s.—A. and N.Z. cable. ABSOLUTE CONTROL. FURTHER .OPPOSITION. LEGAL PROCEEDINGS THREATENED. Following on the decision of the Bainesse Co-operative Dairy Company to take legal proceedings in the event of the New Zealand Dairy Board attempting to seize their produce when absolute control comes into force, September 1 being the proposed date ; tho directors of the Manawatu Reliance Co-operative Dairy Co., Ltd., yesterday arrived at a similar decision. Tile resolution adopted by the meeting was as follows:—“That the directors of' tlfo Manawatu Reliance Cooperative Dairy Coy. notify the Dairy Control- Board and the Prime Minister that should the board attempt to seize their produce tinder compulsion, the company will take such legal proceedings either individually or in conjunction with other companies as may be considered necessary to protect the rights of the shareholders.” DAIRY PRODUCE. LATEST LONDON QUOTATIONS. LONDON, Juno 11. Butter has firmed. It is believed that there has been some speculative buying. New Zealand choicest salted and unsalted, 17Gs to 178 s per cwt.; Australian do., 172 s to 1745; Danish, 180 s. Cheese is firm. New Zealand, 94s to 95s per cwt.; Australian, 91s to 925. A. and N.Z. cable.

Dalgety and Company. Ltd., report having received the following cablegram from their London house under date of the 10th inst.: —Butter market steady at present prices, New Zealand finest salted,' 170 s (1725); Danish, 178 s (1725); Australian finest salted, 174 s (170 s); unsalted, 174 s (170 s). Cheese market steady at present' prices. New Zealand white, 94s (935), coloured 94s to 95s (93s)'; Canadian cheese, September make, 108 s; new season’s, 90s. Last week’s quotations’ shown in parentheses.

At the market sale at Eeilding yesterday the following prices were realised: —Poultry, hens 3,s io 7s,''cockerels 3s 9d to Gs, roosters 7s to 12s. Drakes 9s Gd, dticks 7s Gd to 9s Gd per pair. Turkey liens 7s to 8s Gd each, gobblers 9s to 10s each. Pigs, weaners 10s to £1 0s Gd, slips lGs to £1 Is Gd, porkers 35s to 38s. Prices for beef at the AA'estfield fat stock sales on AVednesday were about equal to last- week’,s rates. The yarding was au average one and values remained firm. Choice ox brought 32s per 1001 b., the same as last week, while prime ox made- from' 29s to 31s and other qualities, 2Gs to 28s. Prime cow and heifer beef made up to 255. There was practically no change in values for mutton. Heavy prime wethers brought from 33s .Gd to 34s 9d, and others from 33s down to 275. Ewes sold up to 275, and lambs to 25s 6d. There was an average yarding of pigs, both baconers and porkers being firm at late rates. 1

. .COMMERCIAL ITEMS. AVELLINGTON STOCK EXCHANGE. YESTERDAY’S BUSINESS AND PRICES. At the morning call yesterday on tho AA’ellington Stock Exchange, sales were reported of National Bank shares at £7 and £7 Is, and at the afternoon call a sale of New Zealand Breweries shares at 59s was reported. There was a good demand for Government stocks and bonds, with buyers of the per cents at £96 10s, the 5 per cents _at £9B and the 5J per cents at £99 os. Bank shares continue firm and in good demand. There were buyers of Bank of Australasia shares at £l4 2s, National Bank at £7, Bank of New Zealand at 62s Gd, a rise of 9d, P. and O. Banking Corporation at £9 7s Gd, a rise of 2s Gd, Union Bank at £ls 3s and English, Scottish and Australian Bank at £7 17s Gd. Goldsborough, Mort and Co.’s shares were firm at 49s (cum div.). There were buyers of Loan and Mercantile ordinary stock at £96 17s Gd, and New Zealand Guarantee Corporation ordinary at 9s 9d. Auckland Gas shares were steady at 23s Bd. National Insurance shares at £3 19s were 3d higher. Meat shares were quiet, but there was a demand for New Zealand Refrigerating shares, 10s paid, at Bs. There were bids of 44s Gd for Huddart-Par-ker ordinary shares, and 20s Gd for the preference. Union Steam preference shares were wanted at 19s Bd. AA’ellington AVoollen preference shares were Gd . higher at £6 8s Gd. There were buyers of National Timber at lGs Gd, Staples and Co. at 38s Gd, A\ r ard and Co at 40s, British Tobacco at 51s Gd, Electrolytic Zinc preference 'at 35s Gd, Howard Smith at 33? Gd and New Zealand Paper Mills at 20s 3d. Yesterday’s buying and selling quotations were as under: —

SALES IN OTHER CENTRES. Pei- Press Association. AUCKLAND, June 11. Sales: Inscribed Stock (1927) £9B 10s; South British Insurance 03s; Goldsborougli, Mort 49s Gd; Taupiri 18s 9d, 18s 9d; Auckland Gas 23s lOd ; Auckland Gas (contr.) 8s 8d ; National Timber 17s; Taranaki Oil 12s Del; Albumin 5s 9d; Kawarau 7s Id, 7s Id, 7s 3d, 7s 3d, 7s 4d; Lucky Shot (contr.) Is Gd, Is 9d, Is lOd, Is 9d, Is Sd; New AA r aiotahi (contr,) Is Bd. DUNEDIN, June 11. Sales: Bank of New Zealand 62s Gd ; Ivawarau 7s Id (two parcels), 7s 2d, 7s 3d (three). Sales reported: Nokomni Hydraulic 10s; 5 per cent Inscribed P.O. stock (1929) £9B ss. CHRISTCHURCH, June 11. Sales reported,: New Zealand Refrigerating (con.), 8s 3d (two parcels): AYestport Coal, 375; New Zealand Government, 4) per cent, bonds (1938), £9G 15s; New Zealand Government, 5} per cent, inscribed stock (1933), £99 12s Gel; Dominion Rubber, 50s; National Insurance, 79s 3d; British Tobacco (ord., cum. div.), 51s 9d. Sales: National Bank of Australasia (£lO paid), £l7 13s; Goldsbrough Mort (cum. div.), 49s 5d (four parcels); Now Zealand Refrigerating (con.), 8s 3d; Kaiapoi AA’qollen (7s paid), 4s; Staples Brewery, 38s lOd; British Tobacco (ord., cum. div.), 525, 51s 9d. EXCHANGE RATES. .' LONDON June 10. Foreign rates of exchange on Juno 10, as compared with par rates, or as averaged first half of 1914, are as follow: - June 10. Par. New York, dols, to £1 ..... 4.86,2 4.866 Montreal, dols. to £1 ... 4.864 4.866 Paris, francs, to £1 ....... ' 163.87 25.224 Brussels, francs to £.l, ... 162.25 25.221 Amsterdam, florins to- £1 12.'10) 12.107 Stockholm, knr. to £1 ... 18.17 18.12 Oslo, knr. to £1 21.87 18.12 Copenhagen,' knr. to' £1... 18.37 18.12 Berlin, Reichsmark.' to £1 20.43 Ron io lire to £i 133.50 25.22£ Yokohama, pence to yen 28j" 24.48 Calcutta, ponce to rupee 17 15-16 24 ... llong-Kong, pence to dol. 27| 24 Batavia, florins to £1 12.08'. '- . VICTOR!AN, LOAN. . SUBSCRIBED NEARLY FOURTEENFOLD. LONDON, Juno 10. The.’ (Victorian lortn was subscribed nearly .fourteenfold. —A. and N.Z. cable. PRICES OF METALS. LONDON, June 10. Copper.—On spot, £56 18s 9d per ton; forward delivery, £57 lGs 3d. Lead, £29 13s 9d and £29 18s 9d. Spelter.—£33 7s Gd and £33 11s 3d. Tin. —£264 7s Gd and £263 7s Gd. Silver, —Standard,3o . 5-16 d per ounce; line, 32 11-lCd.—A. and N.Z. cable. i

EEILDING STOCK SALE. (From Our Own Correspondent.) A much better tone in prices prevailed at yesterday’s stock sale at Eeilding, and a good demand resulted in most lines selling under the hammer. Quality generally, and in particularly in tho store sheep section, was greatly improved, with a corresponding increase in value. A fact which accounted largely for the rise in prices was that most entries were farmers’ lots, not the ragged display which attracts very little demand. Store and lat owes were selling at full market rates, and very few other lines were sold below value. Eat cattle were somewhat in a minority, but what good-conditioned entries wore in sold well. The usual heavy yarding of culls and boners was again in evidence and sold at low figures. Quotations: Eat sheep : Lambs, b.f. 21s, 21s lOd, 23s 3d; w.f., 19s, 19s 3d, 22s to 255; one pet sold at 345; ewes, lGs Gd, ISs, 19s, 2Qs, 20s 3d; three lots were passed in at 18s Gd; wethers, 24s 7d, 25s to 27s 9d. ’ -

Store sheep : Four and G-tooth ewes r.w. S.D. rams, 245, 24s 3d, 25s 3d; 6-tooth and 4yr ewes r.w. S.D. rams, 23s 3d ; 4 and syr ewes r.w. S.D. rams, 245, 24s 4d, 25s 3d; 2-tooth ewes r.w. Romney rams, 18s lOd, 22s 2d, 255, 2Gs 9d; f.m. ewes r.w. Romney rams (low conditioned), LGs Gd; f.m. ewes r.w. S.D. rams (rough), lGs Gd; mixed ago ewes, 10s to 14s 3d ; f. and f. ewes, 11s lOd; empty ewes, 8s lid; aged ewes, os 2d; 2-tooth wethers 22s Id; 4-tooth wethers, 25s 8d; 4 and Gtooth wethers, 25s 0d; wether lambs (medium), 13s 6d, good £1: b.f. lambs, 11s Id to 15s 2d; m.s. lambs, medium 10s, 12s, 12s 7d. good lGs Gd; cull lambs, 5s Bd, 8s Gd. Cattle: Dairy cows, £3 10s, £4 to £7 ; cow witlv calf, £5; store cows, 255, 37s Gd, 40s to £3 10s: Jersey heifers, r.w.b., £l, £2, £3 10s, £4 15s, £5; empty Jersey heifers, £2; crossbred heifers. £3 15s; Hereford heifers, 225; Holstein heifers, £2; crossbred weaner heifers, 9s. IDs, 12s, 15s; m.s. weaners, 275; vealers, £2 13s; fat cows, light £2 LAs, £3 3s Gd, medium £3 18s Gd, £5, £G; fat heifers, £5 12s Gd, £5 18s Gd; 3vr steers, £6 10s; bullocks, £ll, £ll 7s Gd; P.A. bulls, £2 10s; Jersey hulls, £3 3s; Holstein bulls, £1 17s Gd. ; ■ CANTEIIBUItY MARKETS. Per Press Association. CHRISTCHURCH, Juno 11. Potatoes have taken a remarkable jump ii]) in values. A fortnight ago values were forced down to £5 5s a ton. f.0.h., 5.1., for Juno delivery. To-day the value is £> to £7 ss. July’s were sold at £5 12s Gd, hut today (or yesterday) £7 15s was paid. July-Sepl:ember deliveries a fortnight ago wero down to £6. To-day they are £8 to £8 ss. Yesterday they were £8 7s Gd. Up to £9 has been offered from Sydney lor July-Septembcr, but operators are chary of the later months. Tho rebound has been extraordinarily pronounced. It was suggested a fortnight ago that farmers’ abstention from offering would restore stability to the market. Such has proved to be tho case. The Sydney market still retains its healthy tone, and all circumstances, according to

Australian produce reports, point to this condition continuing. If Sydney

should happen to go slow, then there will be a real cause for a break, as tliero will be too many potatoes for local consumption. Two vessels left during the week for the north—the Katoa with 2500 sacks, and the ICaimanawa with 2300, whilst, the Wingat ui is due to sail at end of this week. There is little inquiry from the north under the weight of tubers that have gone up, and a few operators are offering potatoes back. The market is unchanged for grade oats. Up to 4s 3d is available for prompt A Gartons, f.0.b., 5.1., and 4s for B’s. Perennial ryegrass is lifeless to 5s Gd for machine-dressed, and 3s Gd on trucks is quoted. Italian is quoted at 4s Gd to 4s 9d, f.0.b., 5.1., or 2s 9d to 3s on trucks. Imported cocksfoot is quoted at 70s per cwt. — the cheapest price for years, the cause of which is due to the collapse of the Danish market. Values on trucks here are Gd to G}d a lb. Cowgrass has been bought at 8d to 9d a lb. on trucks. The white clover market lias been affected by last year’s importations of cheap seed. The local market came lower than was anticipated, and most of this imported seed is in the southern and North Island merchants’ hands. The New Zealand crop has been a good one. Southland reports are that dogstail is up in the air. Prices to farmers for machine-dressed are from Is 4d to Is 7}d per lb. Fescue is quoted at 8d a lb. There lias been some export, but the market is disposed to case. ' . THE WOOL MARKETS. LONDON SALES CLOSE FIRM. LONDON, June 10. The wool sales closed firm. The latter part of the series was marked by a good attendance and growing confidence. Competition by Continental buyers was activo throughout. Yorkshire trade buyers also operated more freely during the closing week, but fhe United States demand was conspicuously absent. Greasy merinos closed strong, and sometimes 5 per cent, above April opening rates, while scoureds were somewhat erratic, with frequent withdrawals, blit prices generally were in sellers’ favour. Average to faulty combing sorts showed fully 5 per cent, advance. Fine crossbreds were firm, and medium and lower grades generally about 5 per cent, down. Lambs were in active demand, and merinos showed fully 5 per cent, advance, and crossbreds were par to 5 per cent. up. The New Zealand clip Mangatoi brought up to 14}d, and averaged 131 d per lb. —A. and N.Z. cable. BETTER TONE AT BRADFORD. LONDON, June 11. On the Bradford tops market there is a slightly better tone for merinos, on account of London’s firmness, but quotations are unchanged.—A. and N.Z. cable. Levin and Co., Ltd., have received the following cable front their London agents, dated 10th June, 192G:—The auctions closed here to-day. As compared with the opening rates of this series, we quote:—Greasy Merino, best, no change; average, no change; fine halfbrcds, 50-56’s, Id per lb. lower; lialfbreds, 48-50’s, lid per lb.

lower; crossbreds, 46-48’s, ljd per lb. lower; 44-46’s, Id per lb. lower: 40-44’s, Id per lb. lower; 36-40’s, id per lb. lower; slipe lialfbred lambs, id per lb. dearer; scoured Merinos, lid per lb. dearer. The following prices are current: —Merino, super, 26-Jd per lb; average, 24d per lb; fine lialfbreds, super 56-58’s, 22d to 24d per lb; average, 20d to 22d per lb; medium halfbreds, super, 50-56’s, 19d to 20d per lb; average, 17d to 18d; coarse halfbreds, super, 48-50’s, 15d to 16id per lb; average, 14d to lGd; fine crossbreds, super, 4G-48’s,» 14d to 15d; average, 13d to 14d; medium crossbreds, super, 44-46’s, 13d to 14d per lb; average, 12d to 13d ; coarse crossbreds, super 40-44’s, 13d to 14d; average, 12d to 12id per lb; low crossbreds, super 36-40’s, 12d to 13d per lb; average, llicl to 12id per lb; pieces, lid to 12d per lb; bellies, lOd to llid per lb; locks, 8d to 9d per 11». Dalgety and Company, Ltd., report having received the following cablegram from their London house under date of 10th inst: Aho wool sales have closed. There was a good attendance of buyers and competition was good for most descriptions, Continental buyers being the principal operators. As compared with last sales’ closing rates, greasy merinos, scoured merinos and greasy lialfbreds were unchanged; greasy fine crossbreds were Id to lid lower, greasy, medium crossbreds Id to ljd iower, greasy coarse crossbreds Id lower, greasy crossbred bellies and pieces unchanged, scoured fine crossbreds Id to 2d higher, scoured medium and coarse crossbred unchanged, slipes unchanged, merino lambs Id higher, crossbred lambs Id to lid lower. In nil 117,910 bales of wool were offered, including 35,700 New Zealand, 3950 Cape, 23,900 South American ; that sold included 71,000 Colonial and 24.500 South American and sundries. The Continent has bought 61.000, the home trade 33,000, America 1000, carried forward 51,000, of which 34,500 were not offered. Tlve following is the range of prices; Merino, good to super 22id to 25d, low to medium 18id to 21d; lialfbred, SG-58’s, good to super 21}d to 24d. low to medium 18d to 20icL; halfbred, 50-s G’s, good to super 19d to 22d, low to medium IGid to 18id; fine crossbred, 48-50’s, good to super 15d to 17icl, low to medium 13d to 14id ; fine crossbred, 4G-48’s, good to super l"4id to 16d, low to medium 12jd to 14d; crossbred, 44-4 G’s, good to super 14d to 15d. low to medium 12d to 13-id; crossbred, 40-44’s, good to super 13d to 14d, low to medium Hid to 12id; coarse crossbred. 3G-40's, good to super 12£d to 131 d, low to medium lid to 12d. STOCK MARKET. Abraham and Williams Ltd, report having held a very successful sale of Air A. Klatt’s dairy herd and plant at Hunterville on 10th inst. The cows came forward in good order and met with good competition, the whole herd averaging £8 per head, prices ranging from £5 l()s to £l3; springing heifers £6; S.H, bull £4 10s. Milking plant, separator and sundries realised prices satisfactory to vendor. The dairy companies in the Waikato district have formed a provisional committee for the purpose of inaugurating a federation of dairy companies for the corporate marketing of pigs, similar to the schemo operating in thidistrict.

Buyers. Sellers. N.Z. GOVT. LOANS- £ s. d. £ 8. d. 4jr p.e. Ins. Stk., 1939 96 10 0 44 p.c. ditto, ,1938 96 10 0 96 17 6 52- p.c. ditto, 1933 99 5 0 99 12 6 p.c. ditto, 1927-1941 *— 97 0 0 44 p.c. Bonds, 1939 ... 96 10 0 44 p.c. ditto, 1958 yb 10 0 — 44 p.c. ditto, 1930 97 7 5 p.c. P.O. Ins. Stic., 1929 97 10 6 0 5 p.c. ditto. 1927 98 0 0 5 p.c. P.O. Bonds. 1927 98 0 DEBENTURES0 N.Z. Breweries (bonds) — BANKS1 6 9 Australasia 14 2 0 National of N.Z 7 0 0 New Zealand (cum.) ..3 2 6 P. &, 0 Banking Corp. 9 7 6 Union of Aust 15 3 English, Scottish and 0 15 5 0 Australian** 7 17 6 FINANCIAL— Abraham and Williams (old.) n — Goldsbr'gh Mort (cum) 2 9 0 4 1 0 National Mortgage .... — 3 17 0 N.Z. Guarantee Corp. (,ord., 8s) 0 9 N.Z. Loan & Merc. 9 _ (ord.) 97 17 6 — GASAuckland (paid) 1 3 INSURANCE8 National 3 19 0 — MEAT PRESERVING— N.Z. Refrigerax. (10s) 0 8 TRANSPORT0 - IIuddart-Farker (ord.) 2 4 6 — Ditto (pref.) 1 0 6 — Union Steam (pref.) ... 0 19 8 — P. & 0. def. stock ... — WOOLLEN— 260 0 0 Wellington (pref.) 0 8 5 — Ditto, new issue (pd.) — COAL--6 7 6 Westport — 1 17 0 Wesrport-S t 0 0 k t 0 n (ord.) 0 1 2 - TIMBER— National 0 16 6 0 17 6 BREWERIES— Crown — 1 2 0 Staples and Co 1 18 e — Ward and Co 2 0 MISCELLANEOUS— (1 British Tobacco (Aust.) (ord.) 2 11 6 2 12 3 Burns, Philp and Co. — Electrolytic Zinc (pref.) 1 15 1 17 0 6 — Howard Smith 1 13 6 1 14 6 National Electric — N.Z. Paper Mills 1 0 3 1 0 0 MINING— Mount Lycll (cum.)... — 1 7 0 Waihi — 0 19 0