FARMING AND COMMERCIAL.

Manawatu Standard, Volume XLVI, Issue 172, 22 June 1926, Page 5

FARMING AND COMMERCIAL.

LONDON MARKETS. BUTTER AND CHEESE QUIET. HIGH COMMISSIONER’S REPORT. The Department of Agriculture lias received the following cablegram, dated Juno 19, from the High Commissioner for New Zealand, London:— BUTTER. Quiet. Official quotations are:— New Zealand.—Finest salted: June 19, 175 s to 176 s per cwt. (Is 6id to Is 6Jd per lb.), exceptional 178 s per'cwt. (Is 7d per lb); June 12, 176 s to'l7Bs per cwt. (Is 63d to Is 7d per lb.) Unsalted: June 19, 17os to 176 s per cwt. (Is 6jd to Is 6Jd per lb.); Juno 12, 176 s to 178 s per cwt. (Is 6Jd to Is 7d per lb.) Other qualities: June 19, 140 s to 168 s per cwt. (Is 3d to Is 6d per lb.) Australian.—Salted: June 19, 172 s to 174 s per cwt. (Is 6}d per lb.); June 12, 172 s to 176 s per cwt. (Is 6ld to Is 6Jd per lb.); Juno 19 (exceptional), 176 s per cwt. (Is 63d per lb.) Unsalted: June 19, 174 s to 176 s per cwt. (Is 6Jd to Is 6Jd per lb.); Juno 12, 172 s to 174 s per cwt. (Is 1 6Jd per lb.) Other qualities: Salted, June 19, 146 s to 166 s per cwt. (Is 3jd to Is 53d per lb.) Other qualities: Unsalted, June 19, 146 s to 164 s per cwt. (Is 3sd to Is 5Jd per lb.) Argentine.—Unsalted: June 19, 160 s to 164 s per cwt. (Is 5d to Is 54d per lb.); June 12, 158 sto 164 s pier cwt. (Is 43d to Is sid per lb.) ' Other qualities: June 19, 150 s to 158 s per cwt. (Is 4d to Is 43d per lb.) Irish.—Creamery : J une 19, 168 s to 170sper cwt. (Is 6d to Is 6ld per lb.); June 12, 174 s to 176 s per cwt. (Is 6id to Is 63d per lb.) Unsalted: June 19, 170 s to 172 s per cwt. (Is 6id to Is 6}d per lb.) Danish.—June 19, 176 s to 178 s per cwt. (Is 63d to Is 7d per lb.); June 12, 178 s to 180 s per cwt. (Is 7d to Is 7-id per lb.) Siberian.—June 19, 154 s to 158 s per cwt. (Is 4Jd to Is 43d per lb.), exceptional 160 s per cwt. (Is 5d per lb.); June 12, 162 s to 160 s per cwt. (Is 4i-d to Is 5d per lb.) CHEESE.

Quiet. Official quotations are:— Canadian.—Finest coloured (new): June 19, 92s to 94s per cwt. (93d to lOd per lb.); June 12, 91s to 92s per cwt. (9|d per lb.) White (new): Juno 19, 93s to 94s per cwt. (93d to lOd per

lb.); June 12, 92s to 93s per cwt. (93d to lOd per lb.) Coloured (old): Juno 19, 106 s per cwt. (Hid per lb.); Juno 12, 106 s per cwt. (llid per lb.) White (old): Juno 19, 106 s to 108 s per cwt. (llid to llid per lb.); June 12, 106 sto 108 s per cwt. (llid to llid per lb.) New Zealand—Coloured: June 19, 94s to 96s per cwt. (lOd to 101 d per lb.); Juno 12, 94s to 95s per cwt. (lOd per lb). White: June 19, 95s to 96s per cwt. (lOd to 10id per lb.); June 12, 95s to 96s per cwt. (lOd to 10id per lb.) Australian.—Coloured (in accordance with size): June T 9,90 sto 93s per cwt. (9id to 93d per lb.); June 12, 91s to 93s per cwt. (93d to lOd per lb.) White: June 19, 92s to 94s per cwt. (93d to lOd per lb.); Juno 12, 91s to 94s per cwt. (93d to lOd per lb.)

TALLOW. Spot market quiet,but firm, and only moderate business has been done. No change in “spot” prices. HEMP. Manila firmer, with good demand early this week. “J” grade, JuneAugust and September-November shipments, sold up to £4l. Sellers at the close quote £4O 10s. Sisal steady, and business is fair. No. 1 Tanganyika “spot,” afloat, and forward shipments £42; No. 2 not wanted, value £3B to £29. New Zealand market steadier, some small business reported in highpoints afloat, £36 10s, with buyers early shipments £36. Fair grade JuneAugust shipments sold £33 10s. Good inquiry for’No. tow on the basis £23, but no business reported. WOOL. Bradford position is not satisfactory for specially-dressed goods section. Loss of purchasing power through continuance of miners’ strike aggravates situation. Present quotations are for tops: 64’s warp (merino), 4s OJd per lb; 64’s (average, merino), 3s IOJd per lb; 56’s super halfbred, 2s 8d per lb; 50’s fine crossbred, 2s Id per lb; 40’s prepared, Is 7sd per lb. APPLES. Market shows no improvement. Port Victor discharged, and principally fully ripe, some Jonathan wasty. London prices are: Jonathan, Sturmer, Cleopatra 8s to 12s per case; Delicious, Rome’ Beauty, Dunn’s Favourite, King David and Statesman, 8s to 11s per case. Hull auction, ex Mamari: Dunn’s Favourite, 10s 9d to 13s 6d case ; Jonathans. 9s 9d to 12s 6d case; Delicious,

9s to 10s case. Southampton, Port Victor auction, 9s to 11s case. Average Bristol auction, Port Victor and Tongariro—Jonathan, 12s to 13s 6d case.

HERD' TESTING. MEETING OF ASSOCIATION. Hie annual meeting of the Rangiotu Dairy Fanners’ Union Herd Testing Association was held at Rangiotu yesterday, Mr W. H. Gimblett presiding. 'The chairman, in opening the meeting, said that he was not altogether pleased with the attendance. The least a member could do was to attend the meetings and show his interest in the association. Too often the farmer was content to leave the execution of important work to a few enthusiasts. If matters did not meet with their approval they then were not satisfied and complained. He believed that herd testing was of supremo importance to tho dairying industry. If the association was to be successful, members must co-operate—without cooperation no society or association could expect to prosper. Every member should do his best to further the interests of the association. It was very important, also, that the association should have competent officers—without them it was impossible to carry on the work properly*. The annual report (already published in tho “Standard”) and also the bal-ance-sheet were read and adopted. Tho position of the guarantors was raised by tho secretary, Mr F. J. Legg, who said it was not altogether fair to expect them to continue indefinitely. The” chairman said he understood that, when the association became incorporated, the banks would not require a guarantee. It was finally decided that Messrs Gimblett and Ilobbin approach tho bank with the object of ascertaining the position. It was also resolved that the present guarantors be released from their obligations and a vote of thanks was accorded them. The chairman explained that, in order to become an incorporated body, it was necessary to have a majority vote on the question. The proposal was then put to the meeting and carried, the organisation to be known in future as the Manawatu Herd Testing Association. A minute to the effect that a fulltime organising secretary be employed was rescinded. It was resolved to approach the Government and endeavour to secure a subsidy of Is per cow tested. The appointment of testing officers for

the coming season was left in the hands of the executive and the organiser (Mr J. Ferguson), as was also the matter of purchasing all material necessary. The meeting terminated with a special vote of thanks to Mr Gimblett and Mr Legg for what they had done to foster the herd testing movement. MEETING AT A^AHUIII. The organiser (Mr J. Ferguson) addressed a meeting at Awahuri last evening, when there was a fair attendance of farmers. Mr Ferguson outlined the aims and objects of tho association, and answered numerous questions. The following motion was carried: “That this meeting of dairy farmers affirms the principle of the herd testing schemo as adopted by. the Manawatu Herd Testing Association, and that a committee composed of _ Messrs N. Campbell,- J. Mcßae and W. Russell bo set up to go into tho matter of securing more members.” < Tho next meeting will be held on Juno 28.

WELLINGTON STOCK EXCHANGE. YESTERDAY r ’S BUSINESS AND PRICES. At the afternoon call on the Wellington Stock Exchango yesterday a sale of 4i per cent, stocks at £96 12s 6d was made, and another sale at the same price was reported. Other sales reported were 4} per cent, bonds (1930) at £97 10s, Huddart-Parker ordinary at 45s 9d, Manning and Co. at 39s 6d, Staples and Co. at 395,- and Wilson’s Cement at 34s 3d. There was a fair demand for Government stocks and bonds, with buyers of tho 4J per cents, at £96 10s, the 5 per cents, at £9B 10s, and the 5) per cents, at £99 7s 6d. New Zealand Breweries 10 per cent, bonds were firm at 26s sd. Bank shares were in active demand. Bank of Australasia shares at £l4 4s were 6d higher. Commercial Bank ordinary shares were steady at 30s 9d; Bank of Now South Wales shares were in demand at £45, Bank of New Zealand at 62s ex dividend. Union Bank at £ls os, a rise of Gd, National Bank of Australasia, £lO paid, at £l7 16s, English. Scottish and Australian Bank at £7 19s, and Western Australian Bank at 575. Goldsbrough. Mort and Co’s shares were firm at 49s 3d cum. dividend, and New Zealand, Guarantee Corporation ordinary shares were wanted at 9s 9d. Auckland Gas were unchanged at 23s Bd. National Insurance shares at 78s 9d were slightly easier. There were bids of 44s Gd for Huddart-Parker ordinary shares, £6 8s for Wellington Woollen preference, 42s for Leyland-O’Brien Timber, a rise

of 6d, 40s for Ward and Co., 52s 3d for British Tobacco, 36s 3d for Burns, Philp and Co., 16s 6d for Dental and Medical Supply, and 36s for Electrolytic Zinc preference. Yesterday's buying and selling quotations were as under: — Buyers. Sellers. N.Z. GOVT. BONDS— £ s. d. £ s. d. 4 jr p.c. Ins. Stk., 1939 4i p.c. ditto, 1938 ... 96 10 0 96 15 0 54 p.c. ditto, 1933 99 7 6 4J, p.c. Bonds, 1941 ... 4i p.c. ditto, 1938 96 10 0 4i p.c. ditto, 1930 5i p.c. ditto, 1933 99 7 6 —- 5 p.c. P.O. Bonds, 1927 98 10 0 DEBENTURES— N.Z. Breweries (bonds) 16 5 16 7 BANKS— Australasia 14 4 0 Commercial of Aust. (ord.) 1 10 9 National Bank of Australasia (£10) 17 16 0 New South Wales 45 0 0 New Zealand (x.d.) ... 3 2 0 Union of Aust 15 5 0 English, Scottish and Australian 7 19 0 Western Australian ... 2 17 0 FINANCIAL— Abraham and Williams (ord.) Goldsbr’gh Mart (oum) 2 9 3 N.Z. Guarantee Corp. (ord., 8s) 0 9 9 W r i g h t, Stephenson (prof.) - 0 17 9 GAS— Auckland (paid) 13 8 INSURANCE— National 3 18 9 3 19 6 South British TRANSPORT— Huddart-I’arker (ord.) 2 4 6 2 5 3 WOOLLEN— Wellington (prof.) 6 8 0 COAT,/ Westport 1 17 0 TIMBER— Leyhind-O’Bricn 22 0 Rotoiti . National 0 18 6 Bartholomew Land & Timber BREWERIES— Crown 1 2 0 N.Z. Breweries —2 19 3 Ward and Co 2 0 0 MISCELLANEOUS— British Tobacco (Aust.) (ord.) 2 12 3 Burns, Philp and Co. 1 16 3 Dental and Medical Supply 0 16 6 Electrolytic Zinc (prof.) 1 16 0 1 16 6 Wairarapa F a r m ers (£1) 0 17 0 Wilson’s Cement 1 14 9 MINING— Waihi 0 19 0

SALES IN OTHER CENTRES. Per Press Association. AUCKLAND, June 21. Sales.—Bank of New Zealand, 62s 9d; South British Insurance, 60s; National Mortgage and. Agency, 75s 3d; British Tobacco* 52s 6d; Ivawarau, 7s 3d; Majestic, Is 3d. DUNEDIN, June 21. Sales.—Kawarau. 7s 3d, 7s 4d; Bank of New Zealand, 62s 6d. CHRISTCHURCH, June 21. Sales reported.—N.Z. Government 4} per cent. Inscribed (1936), £96 12s 6d (two parcels); Westport Coal, 375; •Burns, Philp, 36s 6d. Sales.-—Union Bank, £ls 6s (two parcels); Goldsbrough Mort' (cum. dividend), 49s 7d; Burns, Philp, 36s 6d; British Tobacco (cum. dividend), 42s 6d.

STOCK MARKET. Dalgety and Co., Ltd.. Palmerston North, report: At the Bulls sale on Monday, 14th inst., there was a very fair entry of sheen and a small yarding of cattle. Quotations: Light fat ewes 16s 3d to 17s. fat ewes 18s 6d, forward wethers 24s 6d, b.f. lambs 15s 4d to 16s, w.f. lambs 14s lOd, 16s to 16s 9d, mixed ago ew r es r.w. S.D. rams 25a 2d, forward cows £3 4s 6d, light fat cows £4 10s, small pigs 10s to 15s, porkers 345. / • Abraham and Williams, Ltd'., Dalgety and Co., Ltd., and Wright, Stephenson and Co., Ltd., report having held a sale of pedigree milking Shorthorn cattle on account of Mr D. Buick at Palmerston North Showgrounds on Tuesday, 15th inst. Only a small catalogue was offered, the attendance was limited and bidding not at all keen. The following are the prices: Two-year heifers, sgns. Bgns, 9sgns, lOgns, llgns, 14gns. 16gns, 20gns, 22gns; (purchasers of tho above were Messrs Black Bros, and N. Larsen, of Whakatane, and G. Shannon, of Palmerston North) ; two(y tsar bull, w*hich realised' 25gns was purchased by Mr H. Hume, of Tokomaru.

THE WOOL MARKETS. KEEN DEMAND IN SYDNEY. SYDNEY, June 21-. A three days’ series of wool sales' has commenced, and will conclude the 192526 season. The market ruled about equal to last sales, with stronger competition on Continental and Yorkshire account. Autumn shorn wools met a keen demand. • Skirtings and lambs’ wool sold very well at full late rates. Burry and wasty descriptions met with poor demand, and were difficult to sell. Greasy merino sold to 26? d per lb.— Press Association.

FROZEN MEAT. The New Zealand Loan and Mercantile Agency Co., Ltd., have received the following cablegram from their London house under date 18th instant: —New Zealand frozen meat: Lamb 9J per lb (average), mutton 6Jd per lb (wether and maiden ewe light), sid per lb (heavy), 4gd per lb (ewe light), 4Jd per lb (heavy). Market slow. SHIPMENTS FROM NEW ZEALAND. Tho New Zealand Meat Producers’ Board reports the following shipments of frozen meat from New Zealand:— November, 1925 Qrs. Qrs. Cs. Beef. Mutton. Lamb. London 45,118 300,671 133,485 W. Coast U.K. 16,258 8,230 1,000 Havre 16,651 Antwerp 19,572 December London 25,373 120,799 99,953 W. Coast U.K. 33,715 13,776 2,780 Genoa 21,258 January, 1926 London 53 141,563 385,419 . W. Coast U.K. 3,871 2,257 15,466 February, 1926 London 3,862 220.290 448,789 W. Coast U.K. 8,318 32,094 148,518 March, 1926 London 5;703 117,546 482,519 W. Coast U.K. 900 10,395 83,972 Genoa 2,205 April, 1926 London 6,573 129,840 781,236 W. Coast U.K. 3,912 3,638 58,916 May, 1926 London 5.861 83,969 478,943 W. Coast U.K. 5,964 37,126 290,241 Genoa 8,377 Havre 7,688 Total to May 31, 1926 London 92,543 1,114,627 2,810,344 W. Coast U.K. 72,938 107,516 600,893 Havre 24,339 Antwerp 19,572 Genoa 31,840 Total for same period last year, viz., to May 31 1925 — London 109.025 1,141,047 2,906,727 W. Coast U.K. 34,361 131,771 511,735 Hamburg 12,438 Genoa 72,580 WOOL, SKIN, HIDE AND TALLOW SALE. Abraham and Williams, Ltd., resale of wool, skins, hides and tallow on Thursday, 17th inst., when wo offered a large catalogue to the usual attendance of buyers. Wool : We offered a few lines of crutchings, the best making up to BJd. The crutchings were mostly inferior sorts, being stained and seedy. Sheepskins: Prices were firm, for all dry skins, whilst salted were a little better than last sale. Hides: There was practically no change in the market for these, prices being on a par with last sale.

Tallow sold at better prices. Wr quote: —Crutchings, good, B}d; medium, 7Jd to Bd'; stained and seedy, 6d to 7d; crossbred fleece, 9d to 12jd; lambs, 9d to lOd. Sheepskins: Crossbred, fine, lid ; coarse, Bjd to 9d; inferior and damaged, 6d to lOd ; salted skins, good, 7s 9d to 8s each; medium, 7s to 7s Gd; light, 6s to 6s Bd. Hides: Ox heavy, -9jd; medium, 9Jd; light to 7£d; cow, heavy; 63d ; medium, 6d; light, sid to s|d; inferior and damaged, 3Jd to 7id;; horse hides to 10s 3d each; yearlings, 6d to 6Jd; calfskins, lid to 12d; damaged, 6d to 7d. . Tallow: In casks,. £3l per ton; in tins, £2o 10s to £26 10s per ton; horse hair, 18d; rabbit,skins, damaged, 24d; hare skins, damaged. 6d each.

ENGLISH WHEAT MARKETS. LONDON, June 20. Wheat cargoes are steady on the firm* ness of closing American cables, and continued Continental demands. Shipments are heavy, but a large proportion are again taken by the Continent. Parcels are in quiet request at 3d per quarter advance. Liverpool futures: July, 11s Bgd; October, 10s BJd; December, 10s 62d.—A. and N.Z. cable.