FARMING AND COMMERCIAL

Manawatu Standard, Volume XLVII, Issue 271, 14 October 1927, Page 5

FARMING AND COMMERCIAL

WOOLLEN TRADE

DEPRESSION AT BRADFORD

INCREASED PRODUCTION COSTS.

LONDON, Oct. 12. Bradford’s employers’ section of the Wool Council declares that the existing depression is comparable with that of 1925. Since 1920 194 firms have gone out of business, including 166,000 spindles, 8596 looms, and corresponding quantities of carding, spinning, and finishing machinery. The list is continually increasing. It is pointed out that while wages throughout the country have increased 75 per cent, since the war, wool and wages have increased 100 per cent., and the cost of production has increased 130 per cent. On the contrary, Continental wages are half those of British employees. The industry is retaining only 73 per cent, of the wool supply, compared with 93 per cent, before the war, despite the efficiency of plants, the ceaseless search for markets, and the endless variety of products and styles.—Sydney Sun cable.

THE WOOL MARKETS. SUPPLEMENTARY SALE AT CHRISTCHURCH. Per Press Association. CHRISTCHURCH, Oct. 13. A supplementary wool sale was held, when there was a comparatively small bench of buyers. The catalogue comprised 600 bales, exclusive of 200 bag lots. The sale was a good one, the standard of prices showing a slight hardening on values at the preceding sale. Only occasional lots were passed. Top price for crutchings was 13jd per pound; four hales of Greenhills wool ’good crutchings made from that price down to 11 §d, and seconds from 7Jd to lid. Locks made up to Bjd. A few fleece lots were forward. Two bales of half-bred hogget sold at 21 Jd, and seven bales of Taruna Corriedale at 20d to 21 id. Four bales of Alaska brand half-bred sold at 21Jd; other odd lots selling at 20d. SYDNEY WOOL SALES. SYDNEY, Oct. 13. At the wool sales all better descriptions of fleece wools and skirtings ruled very firm, with values at times in sellers’ favour, while short, faulty and unattractive fleece wools continued to sell irregularly. The demand for comeback and fine crossbred was keener than for Merinos, and these sorts showed a relatively greater advance on last year’s rates. Greasy Merino sold to 29d per lb. —Press Association. AUSTRALIAN PRODUCE PRICES SYDNEY, Oat. 13. Wheat. —At country stations, bulk, 5s per bushel; bagged, 5s 2d to 5s 3d, ex truck Sydney, 5s 9Jd to 5s lOd. Flour, local, £l4 5s per ton; for export £l2 12s 6d f.o.b. Bran and pollard, £8 per ton. Oats, Tasmanian Algerian, 5s 3d per bushel; white, 4s lOd; New Zealand Gartons, 4s 7d to 4s Bd. Maize, yellow, 5s 3d per bushel, Potatoes, Tasmanian, £9 to £l2 per ton. Onions, Victorian, £5 per ton. —Press Association. ADELAIDE, Oct. 13. Wheat.—Growers’ lots, 5s 6d per bushel; parcels, 5s lOd. Flour, bakers’ lots, £l4 2s 6d per ton. Bran, £7 15s per ton. Pollard, £7 7s 6d. Oats, 3s 6d per bushel.—Press Association. MELBOURNE HIDES SALE. MELBOURNE, Oct. 13. At the hides sales the market was strong. Values were Jd to Jd per lb dearer for all classes. —Press Association. WHEAT MARKETS. LONDON, Oct. 12. Wheat.—Cargoes, in view of the holiday in America, are inactive and mostly 3d to 6d per quarter lower. By the Port Adelaide 4500 tons brought 51s 6d in bags, and 51s in bulk. Parcels are in fair request, but unchanged in price. Liverpool features: October, 10s 3Jd per cental; December, 10s s|d; March, 10s s§d; May, 10 4Jd. —A. and N.Z. cable. SALE OF SHEEPSINKS. CHRISTCHURCH, Oct. 13.

At the weekly sale of sheepskins a fair sized catalogue was offered. Dry skins sold at fully the previous week’s rates, but green skins scarcely held the exceptional prices ruling previously. Dry skins sold as follow:—For sound half-bred 113 dto 15d, three-quarter-bred lljd to 14d, crossbred IOJd to 12d, merino 9d to 12Jd, hoggets 13d to 14d. Green skins: —Half-bred 10s 9d to 20s, three quarter-bred 9s Id to 20s Id, crossbred 7s 8d to 12s lOd. SALE AT BURNSIDE. PRICES FOR SHEEP MAINTAINED. DUENDIN, Oct. 12. Generally 6heep sold at about the same prices as last week at the Burnside stock sales.. Fat cattle prices advanced about £l. Pigs showed little improvement. Fat Cattle. —A yarding of 205. It was a good average yarding, including some extra heavy bullocks and a sprinkling of fair to prime cows, and a few heifers. When the demand opened there was good competition. Prices advanced £i on last week’s rates. Extra heavy bullocks £l9 10s to £2O 15s, prime £ls to £lB, medium £l3 to £l4 10s; best cows £l2 5s to £l3 10s, medium £9 15s to £ll ss; best heifers £ll 15s to £l3, medium £9 10s to £lO 15s; extra heavy ox beef, 42s per 1001 b, prime light 45s to 47s 6d, heifer 42s 6d, old cow's and light heifers 30s to 37s 6d.

Fat sheep. —A penning of 1805. The entry comprised good quality full-wool crossbred wethers, together with about 100 fine wools and a sprinkling of medium to prime ewes. The dem.and was firm to a shade better than last sale’s best rates, to continue until a couple of races were sold. The sale eased about midday to about previous week’s lowest values. Medium weights met with a fair demand in comparison with heavy sheep. Prices ran out on all classes much on a par with those of last week. Prices: Extra heavy wethers 56s to 57s 6d, prime heavy 50s to 525, medium 42s to 455, light 33s to 36s 9d; best heavy ewes 41s 3d to 445, medium 36s to 38s, light 30s to 335; extra heavy wethers 7d per lb., prime light 7£d to Bd, prime ewes 6d, old ewes ssd. Spring Lambs.—Twenty-two spring lambs were forwarded. They were all prime quality. A few small and young ambs were included. Prices: Best lambs 41s to 43s 6d, lighter 36s to 41s, medium 28s 6d to 325; price per lb. from Is 3d to Is 9d. * Store Cattle. —About 100 store cattle were yarded. With the exception of some three-year and two-year-olds, the yarding was made up of capital cows. Prices for cows advanced 5s to 10s per head. Steers failed to sell at auction. Pigs.—A penning of 101 fats and 60 stores. There was a dragging demand for the fats and the stores showed little improvement.

WELLINGTON STOCK EXCHANGE.

YESTERDAY’S BUSINESS AND PRICES. At the afternoon call on the Wellington Stock Exchange yesterday sales were reported of Bank of New Zealand shares at 57s Bd, and an odd parcel at 57s 6d, and New Zealand Breweries shares at 445. Government securities were again very firm. The 4J per cents, at £96 5s were up 2s 6d and the 5J per cent, bonds were unchanged at £lOl. Wellington Gas (debentures) were firm at £99 ss, and New Zealand Breweries (10 per cent, bonds) at 23s 6d. Bank shares were v'ery firm. There were buyers of Commercial Bank (ordinary) at 27s lid, English, Scottish and Australian Bank at £7 9s, National Bank of Australasia (£5 paid) at £8 10s, Bank of New South Wales at £44 ss, a rise of 7s 6d, and Bank of New Zealand at 57s 3d. Sellers quoted £l4 14s for Bank of Australasia, and £ls for Union Bank. Financial shares were in good demand, buyers offering £8 15s for for Equitable Building, 8s 2d for New Zealand Guarantee Corporation (ordinary), 9s 5d for New Zealand Investment, 10s 5d for Wellington Investment, and £6 14s for Wellington Trust and Loan. Christchurch Gas shares were steady at 22s 6d, and Wellington Gas (ordinary) at 27s 6d. HuddartParker (ordinary) were in steady demand at 46s 6d. Coal shares were firm, Taupiri (ordinary) at 255, and Westport at 34s 9d. Brewery shares were in better demand, with buyers offering 43s 3d for New Zealand Breweries, 37s 6d for Staples and Co., and 39s for Tui Brewery. In the miscellaneous section there were buyers of Burns, Philp and Co. at 36s 3d, D.I.C. (preference) at 20s 9d (cum. dividend), Howard Smith at 29s 6d, Dominion Investments at 22s 6d, Scoullar Company at 21s, Sharland and Co. (ordinary) at 20s 9d, Taranaki Oil at 7s 6d, Wellington Queen’s Thea’tre at 20s, and Wilson’s Cement at'36s 6d.

Yesterday’s buying and selling quota tions were as under:—

SALES IN OTHER CENTRES. Per Press Association. AUCKLAND, Oct. 13. Sales.—War Loan (1930), 4J per cent., £97 15s; Commercial Bank of Australia, 28s; Union of Australia, £l4 18s 6d; National Insurance, 79s 6d; Farmers’ Cooperative Auctioneering (B pref.), 15s; Renown Collieries (contrib.), 7s 9d; Auckland Gas, 22s lid; Kauri Timber, 24s 6d; Sanford, Ltd., 24s 3d; Albumia, 3s; Golden Age (contrib.), 2d; Lucky Shot (2s paid), Is 9d; Ohinemuri, Bs, 8s Id, 8s 2d.

CHRISTCHURCH, Oct. 13. Sales Reported.—Commercial Bank of Australia, 28s (two parcels), 28s Id (three parcels) ; National Bank of Australasia (£5 paid), £8 10s; Dalgety and Co., £l3 (new); New Zealand Refrigerating (contrib.), 7s 9d (two parcels); Henry Jones Co-op., 34s 6d. Sales. —Commercial Bank of Australia, 28s, 28s Id; Howard Smith, 30s, 30s 3d; New Zealand Refrigerating (contrib.), 7s 9d; Electrolytic Zinc (pref.), 31s lOd (two parcels).

DUNEDIN, Oct. 13. Sales.—Commercial Bank, 28s 3d, 28s Id.

Sales Reported.—Bank of New Zealand, 58s. P. AND 0. STOCK. LONDON, Oct. 12. P. and 0. deferred stock £267.—A. and N.Z. cable. Calcutta tea sales. CALCUTTA, Oct. 12. Average prices at the Calcutta tea sales for common Pekoe souchong, 12 annas to 12 annas 6 pies; clean common broken Pekoe souchong, 12 annas to 13 annas 6 pies; even black leaf Pekoe, 12 annas 6 pies to 14 annas. The quality generally evinced a slight falling off, the . tone of the market tending dearer, except for poor and medium descriptions, which have an irregular market. Good liquoring teas are steady. Clean common tea ruled 3 pies dearer. Orange Pekoes and Pekoes have appreciated slightly. Commonest sorts and strong powdery dusts have advanced 6 pies. Clean grainy sorts are up to 2 annas. —A. and N.Z. cable. VAN DIEMAN’S LAND COMPANY. LONDON, Oct. 13. The directors of Van Dieman’s Land Company announce that a proposal to purchase the property has been received from Australia. A meeting of shareholders will be held promptly to consider the proposal. The Burnie Timber Company has made a similar announcement. —A. and N.Z. cable.

PIG BREEDERS

MANAWATU-OROUA branch. A meeting of the Manawatu-Oroua branch of the New Zealand Pig Breeders’ Association was held in Palmerston North yesterday, there being present: Messrs J. A. Russett (in the chair), W. P. Bickers (Feilding), J. E. Hunt (Rongotea),- Jas. MacFarland (Feilding), T. F. Shepherd (Levin), D. Stent (Ohingaiti), and E. P. Nielson (Tiakitahuna). Apologies for absence were received from Messrs O. C. Ellerm and N. P. Nielsen.

Owing to the resignation of Mr T. F. Fitzgerald, of Feilding, Mr E. P. Nielsen was elected secretary of the local branch.

As the price of pig feed has been considered by breeders to be very high, a committee was set up to go into the matter with the merchants and to see if satisfactory arrangements can be made in the way of granting discounts to members of the branch. The merchants are to be asked for their quotations for the supply for first grade feed, and the report of the committee will be considered at the next meeting. It was decided to forward a remit to the New Zealand Council of the association asking for permission to enrol any pig farmer on the branch register as a branch member at an annual subscription of ss. This membership would entitle members to reduce food rates, but not to the benefits granted to the breeders of purebred stock.

NEW ZEALAND STOCK ABROAD. FURTHER CHAMPIONSHIPS WON Wright, Stephenson and Co., Ltd., have been advised that New Zealand pedigree stock, selected or shipped to clients in Australia, were very successful at the recent Melbourne Royal Show. The championship of Australia was won by the Aberdeen Angus bull, Hustle of Koiro, by Hayston Bright Print, bred by Mr Norman Gibbons, of Wellington, whoso stud farm is situated near Palmerston North. This bull also won the championship a year ago. It is rather remarkable that another bull shipped by the firm from Mr Frank Armstrong’s stud, at Akitio, Dannevirke, was also champion at the Sydney Royal Show some months back. This was Quality of Frampton. A yearling by this bull topped the breeders’ sale at Dannevirke on Wednesday. The championship of Australia was also won by a three-year-old Border Leicester ram, bred by Mr R. J. Anderson, Kauana, Southland. This ram also won championship honours at the sheep-breeders’ show held in August. Reserve championship was also awarded to the Friesian bull, Echo Domino of Oakview, bred by Mr R. H. Green, Kairanga, Palmerston North. The championships in the Corriedale • section were also won by sheep sired by rams exported from the noted Bushy Park stud of Mr J. A. Johnstone, near Palmerston North. DAIRY INDUSTRY. IMPORTANCE TO DOMINION. EXPORTS TO GREAT BRITAIN. A circular which has just been sent out by the New Zealand Farmers’ Union to its branches throws some light on the value to the Dominion of the dairying industry. In order to provide butter for her many millions last year (states the circular) Britain imported £48,289,354 worth from the following countries: — Value.

In 1925, Britain imported £53,204,417 worth of butter, whilst in 1924 her butter account amounted to £49,647,492. In 1926 her cheese account from all sources totalled £13,937,742, made up thus:—

The total dairy produce imported into Britain in 1926 totalled £62,227,096, of which this Dominion’s share was £16,663,169, or nearly 27 per cent, of the whole.

“From the above figures,” proceeds the circular, “it is seen that New Zealand is the greatest cheese producing country in the world, and second greatest in butter production, but notwithstanding our present favourable r nation there must be a national attempt, to increase our dairy production per dairy farmer, per acre, and per c r w. This increase in production can be- hastened by (1) better breeding, (2) better weeding, and (3) better feeding. It should be the aim of our dairy industry to secure a bigger share cf ine 62 million prize than what it is receiving at present; if this Dominion does not do so some other foreign rival will. LEAD IMPORTS AND EXPORTS. LONDON, Oct. 12. Lead imports amounted to 20,007 tons, and exports to 1919 tons. —A. and N.Z. cable.

FREEZING OF MEAT.

ENGINEERS CONFER. As thro result of an invitation issued by the New Zealand Meat Producers Board to all freezing companies in New Zealand, a representative conference of freezing companies’ engineers from all parts of the Dominion recently attended in Wellington, when a very profitable discussion took place in regard to problems relating to the methods of freezing and storing our frozen meat, the bloom on New Zealand lambs displayed on Smitlifield, and other important kindred problems relating to the frozen meat industry. LONDON TALLOW SALES. LONDON, Oct. 12. At the tallow sales 1251 casks were offered, and 942 were sold, at about 6d per cwt. advance. Fine mutton brought 36s 9d per cjvt.; medium, 345; fine beef, 395; medium 33s 6d.—Australian Press Association and Sun cable. Dalgety and Co., Ltd., report having received the following cablegram from their London House under date of the 12th inst. :—Tallow: 1250 casks offered; 938 casks sold. Prices, mutton in general, unchanged; inferior, Is higher; other descriptions, 6d higher. AGRICULTURAL CENSUS. NEED FOR CO-OPERATION URGED. LONDON, Oct. 12. A special sub-committee of the Empire Marketing Board, with Mr MacDougal as chairman, recommends the systematised study of agricultural economies and the preparation of agricultural atlases. It urges on Empire Governments the need for co-operation in the projected world agricultural census of 1930.—A. and N.Z. cable.

Buyers. Sellers. N.Z. GOVT. LOANS— £ s. d. £ B. d. 4£ p.c. Ins. Stk. 19.59 9b 5 0 4 h p.c. ditto, 1938 96 5 0 — 5£ p.c. ditto. 1933 .00 17 6 — 5£ p.c. ditto, 1936 100 17 6 101 10 0 51 p.c. ditto, 1927/1941 98 0 0 98 15 c 4i p.c. Bonds, 1939 ... 96 5 0 — 4A p.c. ditto 1938 9b 5 0 — 51 p.c. ditto, 1933 101 0 0 — 5A p.c. ditto, 1936 .01 0 0 101 10 0 5 p.c. P.0. Ins., Stk., 1929 — 99 0 0 DEBENTURES— Wellington Gas 99 5 0 — N.Z. Breweries (bonds) 1 3 6 1 3 9 BANKSAustralasia — 14 14 0 Commercial of Aust. (ord.) 1 7 11 1 8 t English, Scottish and. Australian 7 9 0 — New South Wales 44 5 0 — New Zealand 2 17 3 2 17 9 Union of Aust — 15 0 0 FINANCIAL— Equitable Building ... 8 15 0 9 2 0 N.Z. Guarantee Corp. (ord., 8s) 0 8 2 0 8 9 N.Z. Investment 0 9 5 0 10 0 Wellington Investment 0 10 6 — Well. Trust, Loan ... 6 14 0 — GASChristchurch 1 2 6 — Wellington (ord.) 1 7 6 1 8 3 INSURANCE— National 4 1 0 MEAT PRESERVING— N.Z. Refrigorat. (10s) — 0 8 0 TRANSPORT— Huddart-Parker (ord.) 2 6 6 — P. and 0. •def. stock .. — 274 0 0 COAL— Taupiri (ord.) 1 15 0 — Westport 1 14 0 — Westport- Stockton (prof.) — 0 3 6 TIMBER— Leyland-O’Brien — 1 18 9 National — 0 13 6 BREWERIESNew Zealand 2 3 3 — Staples and Co 1 17 6 — Tui 1 19 0 — Ward and Co — 1 18 6 MISCELLANEOUSBurns, Philp and Co. 1 16 3 — British Tobacco (ord.) — 3 0 6 Burns, Philip and Co. 1 16 3 — D.I.C., 7s 6d paid (ord.) — 0 18 0 Ditto (pref.) 1 0 9 — Electrolytic Z i n o (ord.) — 1 11 3 Ditto (pref.) — 1 12 7 Howard Smith 1 9 6 N.Z. Drug — 3 4 0 N.Z. Paper Mills — 0 17 3 Dominion Investments 1 2 6 — Scoullar Co 1 1 0 — Sharlnnd & Co. (ord.) 1 0 9 1 1 3 Taranaki Oil Fields . 0 7 6 — Well. Queen’b Theatro 1 0 0 — Wilson’s Cement 1 16 6 — MININGMount Lyell 1 7 0 — Waihi (cum.) — 1 3 0 Progress 0 0 4 —

Cwt. £ Denmark 1,906,495 17,166,480 New Zealand ... 1,255,439 9,607,459 Australia 1,161,238 5,759,695 Argentine 484,503 3,859,248 Irish Free State 403,111 3,835,067 Russia 262,291 1,924,185 Finland 186,591 1,556,870 Netherlands 150,442 1,330,281 Sweden 154,072 1,327,190 Canada 64,394 508,853 France 30,996 239,149 U.S.A 11,843 36,350

Cwt. Value. £ New Zealand ... 1,497,471 7,055,710 Canada 1,055,092 4,649,926 Netherlands .... 188,991 849,279 Italy 141,218 679,812 Australia 46,985 224,290 U.S.A. 13,199 62,112