FARMING AND COMMERCIAL

Manawatu Standard, Volume XLVII, Issue 306, 28 November 1927, Page 5

FARMING AND COMMERCIAL

FROZEN MEAT.

LONDON QUOTATIONS.

LONDON, Nov. 26. Sheep: Canterbury, 6fd per lb. North Island, heavy, s id. Argentine, firsts, seconds and ewes, all 4Jd. Lambs: Canterbury, heavy, none offering ; seconds, B£d; other selecteds, none offering. North Island, seconds Bjd. Australian, firsts, Victorian, 9d; other States, Bid; seconds, Victorian 7sd, other States 7id; thirds, 6£d. Argentine, firsts, light 7id, medium 7d; seconds, 6id. Frozen Beef: New Zealand fores, 3£d. Australian orops, 4d. Chilled Beef: Argentine, fores, 4Jd; hinds, 6id. Others meats are unchanged.—A. ajid N.Z. cable.

The New Zealand Meat Producers’ Board has received the following cable from its London office dated November 25th, 1927, advising Smithfield delivered prices at that date as follow, prices for the two previous weeks being in parentheses:—N.Z. wethers and maiden ewes: Canterbury quality, selected brands, 56-under, 6|d (6ld, 6id); 57-64, 6d (6d, 6Jd); 65-72, s§d (sgd, 53d); other brands, 56-undor, s£d (5Sd, 5Jd); 5764, sgd (s|d, 53d); 65-72, s)d (s§, Sid). N.Z. owes: 64-under, 4id (4J>d, 4id). N.Z. lambs: Canterbury quality, 36-under, 9gd (9|d, 9|d); 37-42, 9jjd (9|d, 9id); 43-50, not quoted (9d, 8Jd); seconds, B£d (Bid, 8Jd); selected brands, 36-under, not quoted (9£d, 9£d); 37-42, not quoted (9£d, 9£d); other brands, Ist quality, 36-under, 9fd (9fd, 9£d); 37-42, 9£d (9£d, 9£d); 2nd quality, 30-32 average, B£d (B|d, B|d). Australian lambs, not quoted. Argentine lambs, Ist quality, 36-under, 7£d (7Jd, 8£d); 37-42, 7d (7id, 73d). N.Z. beef: Ox fores, 3£d (33d, 3Jd); hinds, s|d (sfd, sfd). Cow fores and hinds, not quoted. Argentine chilled beef: Ox fores, 4fd (4£d, 4£d); hinds, 6£d (6|3, 7d). Argentine frozen beef: Ox fores, 4d (4d, 4d); hinds, s£d (sld, sifd). Frozen pork: 80-1201b5., B£d (B£d, 8Jd); 120-1801bs., 7d (6d, 7d). Frozen veal: Not quoted. Lamb: Market quiet but steady. Market still overloaded with South American lamb and Home killed meat. Mutton market: Wethers, quiet. Demand has been only fair. Ewe market unchanged and trade very slow. Levin and Go., Ltd., have received the following cable from their London agents, dated November 25th, 1927: —As compared with last week’s quotations, prices are unaltered, and there is very little demand. NEW ZEALAND MEAT. LONDON. Nov. 26. Mr MacFarlane has sailed by the Ruahino in an endeavour to arrange for New Zealand meat supplies on behalf of the British Wholesale Co-operative Society.— A. and N.Z. cable. PRICES OF RAW MATERIALS. LONDON, Nov. 26. Cotton. —Liverpool quotation for American middling upland cotton, December delivery, 10.69 d per lb. Rubber. —Fine hard Para, 17d per lb; plantation first latex crepo and smoked ribbed sheet, 193 d. Jute. —November-December shipment, £3O 5s per ton. New Zealand Hemp.—January-March shipment, £33 15s per ton. Copra.—November-December shipment, £26 12s 6d per ton. Linseed oil, £29 10s per ton. Turpentine, 35s 3d per cwt. —A. and N.Z. cable. WOOLLEN INDUSTRY. ENGLISH DISPUTE. LONDON, Nov. 27. Though the wool industry employers’ notices terminating the current wages agreement expired on Friday night, no notices were posted in the factories notifying wage reductions. The National Association of Textile Unions has decided to strike if the employers announced reductions. —A. and N.Z. cable. CANTERBURY MARKETS. Per Press Association. CHRISTCHURCH, Nov. 25. There is now little wheat in farmers’ hands, and what there is commands a firm tone. A little businoss has been done at 6s lOd f.o.b. Fowl wheat is also in firm request, and some trading has been done at 6s 10£d f.o.b. There is a good demand from the North Island for all classes of wheat. Six shillings a bushel, f.0.b., which was the basis of a fair amount of business in next year’s crop, is not being so freely offered. A little selling has taken place at 5s lid, or approximately 5s 8d on trucks, but the breaking of theeven money does not appeal to growers. Some business has taken place in next year’s oats for Apri-June delivery. A’s are quoted at 3s 6d, f.0.b., 5.1., and B's down to 3s Id, but the little activity shown a few weeks ago has subsided as far as Gartons are concerned. However, in anticipation of business with Australia when the now crop comes in, merchants aro offeriing 4s 6d a bushel for machine-dressed clipped Algerians. One good feature about the past season’s business is that the export to Australia and England cleared stocks that had accumulated in tho south from the two preceding seasons, and then ew crop will come in with tho boards barer than for a long time.

Chaff is quoted at £ss 5d a ton, f.0.b., S.l.', tor next year, but with no business.

Partridgo peas have eased slightly, and are quoted at 7s Id to 7s 2d, f.0.b., S.I. Tho export of sods has also cleared the docks in practically every line, Italian ryegrass being about tho only exception. Now potatoes are coming in this week fairly freely, and merchants are not proSarod to quote for the old crop unless for efinito orders. What few are left are being disposed of in the auction marts in retail quantities. Any business in next season’s tubers is on the basis of £4 15s a ton, f.o.b. S.I. SPLENDID RAINS. IN NEW SOUTH WALES. SYDNEY, Nov. 27. From all parts of the State come jubilant reports of splendid rains and full rivers. In some places there have been floods, damage to crops, and losses of newly-shorn eheep. Several inches of rain have fallen since it started on Wednesday. Gosford had over seven inches.— , Press Association.

WELLINGTON STOCK EXCHANGE.

LAST WEEK’S BUSINESS AND PRICES. Tho turnover in Stock Exchange securities last week was small, but prices have beon well maintained. A moderate business was done in Government securities. The 4£ per cents, sold steadily at £96 15s, and were in demand at 2s 6d less. The 5 per cent, stock, 1930, changed hands at £99, and the 5£ per cents, at £lOl ss. There wero several transactions in debentures of local bodies, sales being recorded of City of Auckland 5£ per cents, at £96 10s, Auckland Hospital Board 5£ per cents, at £96 10s, Auckland Hospital Board 5£ per cents. (1930) at £9B 10s, Auckland Harbour Board 6 per cents. (1941) at £lO3, and Christchurch Tramway Board 6£ per cents. (1934) at £lO5. Bank shares were in excellent demand throughout tho week, but thero were comparatively fow sales. Bank of Australasia shares sold' at £l4 15s, and there were bids at tho week-end at £l4 13s 6d. Thore was a single transaction in Commercial Bank ordinary shares at 295. Bank of New Zealand shares changed hands at 59s 3d and 59s sd, cum. dividend, and were wanted at the week-end at 59s 6d. The dividend is payable towards tho end of this week. National Bank of New Zealand shares sold at £6 183, £6 19s and £6 18s 6d. The announcement respecting the interim dividend of this bank may bo expected at any moment. Bank of New South Wales shares had quittance at £45, and there was a continued demand for the shares at the same figure. Union Bank, old issue, shares sold at £l4 10s, with buyers at the week-end at a shilling less. The same bank’s new issue shares, partly paid, changed hands at £5 13s 6d. New Zealand Guarantee Corporation shares were rather slow, and there was but one transaction in the ordinaries at 8s lOd. At tho weekend, buyers wero offering 8s 9d. National Mortgage shares commanded a little attention, but prices showed an easing tendency, sales being registered at 72s 6d, 725, and 71s 9d. There were several sales of Dalgety and Co.’s shares all at £l3. Gas shares, were in demand, but current bids havo not proved sufficiently attractive. Christchurch Gas shares changed hands at 24s 3d. Insurance shares were very steady, and business was done in New Zealand Insurance at 39s 6d and 40s, and in South British Insurance at 56s 9d. A fair business was done in New Zealand Refrigerating shares, the 20s paid changing hands at 16s 6d, and tho 10s paid at 8s Id and 8s 2d. Other meat shares were quiet. Gears were on sale at 39s 9d. The financial year of the Gear Company will close on Wednesday. Shipping shares wore in fair demand. but the sales wero few. Northern Steam sold at 14s 6d, Devonport Ferries at 245, and Huddart-Parker preference at 20s 9d. Woollen shares are meeting with a better demand, and sales were made of Kaiapoi Woollen, ordinary, at 8s 5d and 8s 6d, and Wellington Woollen at £6 4s 6d. There were a few transactions in coal shares. Hikurangi coal ordinary sold at 3s 6d arid 3s Bd, preference at 7s, 6s and 7s Id, Taupiri Coal at 26s 3d, and Waipa Coal at 16s. Brewery shares are quiet, and will remain so until something definite is known regarding the licensing legislation. New Zealand Breweries shares changed hands at 40s and Staples and Co. were wanted at 395, and Tui Brewery at 39s 9d. In tho miscellaneous section there were transfers of British Tobacco at 545, Colonial Sugar at £54, Dominion Rubber at 41s, Electrolytic Zinc preference at-325, Hayward’s Picture at 17s 6d, Sharland and (Jo. ordinary at 20s, New Zealand Drug at 655, and Taranaki Oil at 10s 6d and 10s lOd. It ie worthy of note that the splitting of tho £5 shares, of the National Insurance Company into £1 shares has been completed, and tho quotations now are for the £1 shares with 63 paid up. Saturday’s buying and selling quotations were as under:—

PRICE OF GOLD. LONDON, Nov. 25. The price of gold is £4 4s llid per ounce.—A. and N.Z. cablo.

SALES IN OTHER CENTRES

Per Press Association. AUCKLAND, Nov. 27.

Sales. —Bank of New Zealand, 59s 9d; New Zealand Insurance, 40s; Occidental Una United (oontrib.), Is Bd. CHRISTCHURCH, Nov. 27. Sales.—New Zealand Refrigerating (£1 paid), 16s 9d; ditto (contrib.), 8s 2d (four parcels); Christchurch Gas (new 5s paid), 6s 7d (two parcels). CHRISTCHURCH, Nov. 26. Sales.—New Zealand Refrigerating (£1 paid) 16s 9d, contrib. 8s 2d (four parcels); Christchurch Gas (new, 5s paid), 6s 7d (two parcels). STERLING’S NEW RECORD. NEW YORK, Nov. 26. Sterling exchange has reached 4 dollars 88 cents.—A. and N.Z. cable. AUSTRALIAN LOAN. LONDON, Nov. 26. The lists for the Commonwealth loan have closed nominally. No announcement has been made, but it is understood that tho underwriters are saddled with a substantial proportion.—Australian Press Association and Sun cable. STOCK MARKET. • ' Levin and Co., Ltd., report for week ending November 26th, 1927: —At Rongotea pn Wednesday there was a full yarding of pigs and a medium one of cattle. Pigs were in keen demand and a good clearance was made at auction. Cattle sold at late rates. We quote: Weaner pigs, 6s 6d, 11s, 12s 6d, 15s; slips, 18s 6d, lbs 6d, 225, 235, 23s 6d; store pigs, 255, 26s 6d, 27s 6d, 29s 6d, 31s to 34s 6d; boar, 2fgns.; fat cows, £5, £5 10s, £5 12s 6d; f. and f. cows, £2 11s, £2 18s, £3 11s, £4, £4 7s 6d; stores, £2 7s 6d; boner cows, £5 and , £6. At Feilding on Friday we had a fair entry of both sheep and cattle. The sheep consisted chiefly of shorn 2-tooth and 4-tooth wethers, which wero in good demand and sold well though prices were slightly easier than in the previous week. Cattle sold at late rates, the yarding sonsisted mostly of fat cattle, few lines being yarded. We quote: Fat lambs, 25s 3d; fat b.f. 2-tooths shorn, 253 6d; fat ewes shorn, 19s 6d, 21s 9d, 235; fat maiden ewes, 265; fat shorn wethers, 30s 4d; f. and f. shorn 4-tooth wethers, 25s lOd, 265; store ewes, 14s 3d; woolly ewes and lambs, 425; Hereford bullocks, £8 2s 6d; empty cows, £2 15s, £3, £4 Is, £4 17s 6d; fat cows, £5 17s 6d, £6 ss, £6 12s 6d, £7 2s 6d; yearling Jersey bulls, £4 10s; 2-year Jersey bulls, £6, £6 ss. The N.Z. Loan and Mercantile Agency Co., Ltd., report on the usual weekly sale held at Feilding on Friday. A medium yarding of fat and store sheep and a poor offering of cattle was submitted to a fair attendance of the public. Fat sheep sold well up to late rates, but store sheep (mostly wethers) in tho majority of cases failed to make tho vendor’s reserve. We quote: Fat lambs, 32s to 32s 9d; fat ewes, 235, 18s 6d, 18s 4d, 21s Bd, 20s 9d, 21s 9d, 18s 6d, 20s Id; fat maiden ewes, 265; fat wethers, 24s 4d, 24s 6d; four-tooth wethers, 25s lOd; two-tooth wethers, 22s 6d to 23s 7d; two-tooth owes, 275.

Dalgety and Co., Ltd., report having held their usual monthly sale at Taihape on Wednesday when a fair yarding of sheep and cattle came forward. Thero was a good attendance of buyers and competition for all stock was keen and all lines submitted met with ready sale of prices in favour of sellers. We quote : 6-tooth empty ewes in the wool, 82s 3d, 2 and 4th empty woolly ewes, 33s to 355, m.a. ewes in the wool with 100 per cent. Romney lambs, 41s, fat woolly ewes, 265, fat woolly wethers 295. Forward cows, £4 19s to £5 7s, store cows £2 16s to £3 13s 6d, cull cows, £l.7s 6d to £2 18s, 2-year-old steers £5, yearling heifers, small, 355, small yearling steers, £2 ss.

SKINS, HIDES AND TALLOW.

Tho fortnightly sale of sheepskins, hides and tallow was held at Welling on Friday, Shoepskins: Competition tor those was very keen and dry skins, in sympathy with the wool market, showed a rise, prices being from id to Id better than last sale, Salted skins were also a little firmer, prices being from 3d to 6d hotter. Hides: Those were keenly sought after. Ox hides were, if anything, a little firmer, light and medium cow being about a id better. Kip were also about id better: Tallow: Competition was only fair, prices showing very little chango. Sheepskins: Half bred, lljjd to 143 d; fine crossbred, 12£d to 143 d; medium-coarse, 12d to 14d) short to half wools, IOJd to 133 d) lambs, 10jd to 14d; dead and damagod crossbred, 83d to 12id; inferior and badly damaged, 6d to 9£d; pelts, 6d to 9id; damp, salted and green, 7s 6d to 12s 8d; pelts, salted, Is bd to 3s 8d; lambs, Baltod, 2s lOd to 3s 4d. Hides: Ox, ex. heavy, 70 lb and over, 10|d to llid; heavy, 59 lb to 69 lb, 10§d to 10Id: medium, 53 lb to 68 lb, lOjjd to 10ad; light, 45 lb to 52 lb, 103 dto lOgd j cut, slpy. and inferior, 9id to 9id. Cow, hoavy, 53 lb and over, lOfd to 10|d ; medium, 45 lb to 52 lb, 10Jd 'to lid; light, 33 lb to 44 lb, 10£d to lljd; cut, slpy. and inferior, Bid to 9id; bull, stag, 6d to 6d, yearlings, 11 lb to 16 lb, 9d to 12jd; 17 lb to 32 lb, 7id to Hid. Calf, Bupenor up to 101 b, 15fd to 17id; med. good, up to 10 lb, 12d to 16d; damaged, up to 10 lb, 7jd to 14id. Tallow: In casks, 20s to 24s 6d; in tins, etc., 12s to 21s 6d. Sundriesi Horae hair, 20s to 275.

DAIRY PRODUCE. LARGER "SHIPMENTS. DECISION OF NEW ZEALAND BOARD. The New Zealand Dairy Produce Export Board at its monthly mooting on Friday decided to allow larger quantities of butter and cheese to be snipped to Britain from January onwards "than were exported last season. 'This will mean a considerable quicker return to the farmers and also a considerable saving of storage, insurance, and other charges which have to be met when produce is kept on hand. The chairman of the board (Mr W. Grounds) stated on Saturday that this decision had been reached in view of the general market conditions in Great Britain, and the fact that other producing countries, such as Canada, Australia, and the Argentine, were expected to have less butter and cheese available fon export during the coming months than was usually the case. The quicker export, he explained, would make the returns available for the producers much earlier, and the

saving of storage and other charges should be considerable. The question of the validity of the present conditions of export shipping licenses, Mr Grounds stated, had been before the«board, and it was decided to have the matter further investigated by the board’s legal advisers. The licenses had been objected to by several Auckland exporters recently. A further payment on last year’s cheese account would be made on December 13 to ian aggregate of about £200,000.

Tho Anglo-Continental Produce Coy., Ltd., Wellington, has received the following cable advice this day from its London principals: Butter, 172 sto 176 s (market quiet); cheese, 99s to 101 s (market quiet). The s.s. Westmoreland has arrived and sales have been mado at the above prices.

Buyers. Sellers. N.Z. GOVT. LOANS— £ s. d. £ s. d. 4i p.c. Insc. Stk., 1939 96 12 6 — 4i o.c. ditto, 1938 .... 9b 12 6 — p.c. ditto, 1936 — 101 5 0 4i p.c. Bonds, 1941 .... 96 12 6 — 4i i3.o. Bonds, 1939 ... 96 12 6 — 4£ p.c. ditto, 1938 9b 16 0 — 4j p.c. ditto, 1930 97 15 0 — DEBENTURES— Wellington Gas 99 10 0 — N.Z. Breweries (stock) — 1 3 8 Ditto (bonds) — BANKS— 1 3 7 Commercial of Aust. 1 9 3 National of N.Z 6 17 9 6 18 6 Not? South Wales .... 45 0 0 — Now Zealand (cum.) 2 19 P. and 0. Banking 6 2 19 9 Corp 10 0 0 — Union of Aust 14 10 0 14 15 0 Ditto (new, paid) ... 14 0 Ditto (new, part paid) 5 16 0 — 0 6 2 0 FINANCIAL— N.Z. Guarantee Cprp. (ord., 8s) 0 8 9 — Ditto (pref.) 1 1 0 Well. Invest., T. & A. 0 10 5 — Well. Trust, Loan ... 6 14 GAS0 6 18 0 Auckland (paid) 1 3 0 — Christchurch 1 1 0 — Wellington (ord.) 1 7 3 18 0 Ditto (pref.) 0 16 INSURANCE— 7 — National of N.Z — 0 16 4 3 2 6 MEAT PRESERVING— 1 19 9 N. 21. Refrigerat. (£1) — 0 17 6 Ditto (10s) - 0 8 4 Well. Meat Exp. (ord.) 0 7 TRANSPORT— 6 — Huddart-Parker (ord.) 2 8 WOOLLEN— 0 — Kaiapoi (ord.) 0 8 6 — Wellington (pref.) .... 6 4 COAL— 6 — Westport — W eutport-Stoclcton 1 13 0 (prof.) — 0 3 6 BREWERIES— Staples and Co 1 16 MISCELLANEOUS— 9 1 18 6 C. M. Banks (ord.) ... 1 3 0 — British Tobacco (ord.) 2 13 0 — Burns, Philp and Co. 1 17 0 — Colonial Sugar 54 0 Electrolytic Zinc 0 54 15 0 (pref.) 1 11 6 — Newton King (pref.) 0 10 N.Z. Farmers’ Fer0 — tilser 3 6 6 — • N.Z. Paper Mills 0 16 6 0 17 0 1 2 6 Taranaki Oil Fields ... — 0 11 0 Wilson’s Cement (x.d.) 1 15 Thompson Bros., Ltd. 3 — (pref.) — 1 0 3 MINING — Mount Lyell (cum.) ... 1 8 0 —