FARMING AND COMERCIAL

Manawatu Standard, Volume XLIX, Issue 269, 12 October 1929, Page 5

FARMING AND COMERCIAL

PORK AND BACON INDUSTRY. INDIVIDUALITY OR BREED. (By “Ploughshare.”) In the course of his remarks to a gathering of farmors recently Professor Ridett, when' Sneaking of the breeding and feeding trials which have so far been conducted at Massey College, stated that, although practically all breeds of pigs are represented, and their records are boing compiled under strict observation, he was not prepared to make a definite statement as to which breed or combination of breeds was best suited to meet the requirements of the • pork and bacon trado. Ho had found,, however, that individuality, irrespective of breod, was a most important factor. There are good, bad and indifferent sows in every breed, and, while some distinctly better efforts are now being mado by pureberd breeders to produce pigs of a type .which will give more satisfaction to the curer, and meet the requirements of the, export trade, it cannot bo said that as yet any single breed of pigs has re- j ceived trado recognition for superiority, j The best types of the leading breeds, whether they be black, white or red, all conform very closely to the curer’s ideal. NO -RECOMPENSE FOR QUALITY. These hotter class pigs are in good doji mand by farmers for providing their needs,, ; but the present weakness of the pig fat-1 J toning • business is that quality does not receive any encouraging recognition in value over the product of inferior type and faulty fed animals. This weakness calls for an early remedy, otherwise there is no great incentive to promote improvement. Now that the producers are improving their stock and giving more attention to feeding, it is but reasonable to expect that buyers of pork and bacon pigs —at whoso request farmers have improved their stock in an effort to meet trade demands—should pay for quality. Under the present system of keen competitive buying, it is admitted that difficulty would be found in purchasing strictly to quality grade, but surely it is not beyond the abity of bacon company concerns to devise some buying principle whereby quality yvill be represented by price! 'The main obstacle to grading when buying in this style or at the weighing station is said to be that uniformity _ is often lacking in individual lines of. pigs of the samo breeding and ownership,'and that-it would be found impossible to discriminate satisfactorily between them. While it is conceded that the inauguration of a system of buying on type and,quality basis may meet with some difficulties at the beginning, the obstacles to be overcome are not insurmountable if all the buying firms operating had an earnest desire to put it into effeot. A SUGGESTED REMEDY. One long step towards making grading possible would be found in making all purchases 'subject to. dead weights at the slaughtering depot. If' each owner’s pigs were separately marked with an identification tag, it would be an easy matter for the..grader in the .store to mark the carcases' which -were in his opinion entitled to a premium. ’ If this quality premium was represented by an extra payment of so much per head over the current market rate, and added to. the cheque, fatteners would appreciate the distinction and it would give them a better incentive to meet trade requirements. Some adverse criticism has been directed against factory weights .as a basis of payment, but with a responsible man at the scales, in whom both, buyer and seller 1 has confidence, objections would soon be overcome. The old system .of buying on the scales at the trucking' depot was in the main satisfactory, but since this method has given way in many centres to buying on the hoof too much latitude is given to buyers, who, in their desire to make up a load or to outbid their competitors, often exceed their stipulated buying limits under pressure. Under the system of buying and selling on the basis of dead cold weight at the factory, the exact value of the pig can bo found, with the additional advantage that the actual weightl of shrinkage for offal between live and dead weightican be determined so that the owner of the well fattened-.meal fed pig does riot suffer through? ’having to accept an average deduction covering all pigs t irrespective of bow they have been fed land cared for. No reasonable person wjshps Bto get mdro than the equivalent in Value Mor what he produces’, but ho is certainly ■entitled to expect the full market rate determined on the quality of tho goods proeduced rather than having to accept an E-averago payment assessed on .the manufacf tured selling value of goods of lower quality. WHAT EVERYBODY WANTS. A recent pamphlet issued by tho Na- [ tional Pig Breeders’ Association in Eng--1 land, which seeks to put tho pig breedf ing industry on a better footing by enrcouraging tho breeding and fattening of 1 better class animals, outlines some of the ■ main requirements which are essential to ■success. Under separate headings the needs Bof every section from the breeder to the ■consumer are enlarged upon and may Bhus be briefly summarised: —The breeder hardy, long-lived animals with such Hpod constitutions that he raroly has to his medicine chest or call in tho They must ,bo active, conforagers, _ willing to cut dpwn the bills by picking up a good proporof their keep from' pasture. Both !; ( nkrs and sows must be prolific and ready tho litters must bo large and every KHping a strong and quick grower. Both and breeding animals must have the ; conformation of good butchers’ 1 pigs to command the highest possible They must bo of a firmly established type, so that a litter shows uniin all points. ||l' WHAT THE FEEDER WANTS. SB The feeder wants only pigs in hard conBlition with- good appetites. “.They .must Hiave been weaned in strong growing conHlition and gostraight on to pasture or Bnto yards until it is convenient for him ko put ' them in. the styes for a quick ■finish. They most stand sty-feeding well Band eat without fads or fancies, or ache 3 Band pains. Above all, they must bo ablo ■ to put; ,on weight quickly and in the ■tight parts. The feeder is always on tho Blook-out for pigs light in front, with fine ■shoulders, a straight level back and a good ■back end. I,WHAT THE PORK BUTCHER WANTS. ■ About the average weight for a good ■ porker should bo irom 801 b to 1001 b dead I weight. ' The London market, which takes I over a million carcases a year, prefers I smaller weights and pays . the best prices I for them.. The. pigs must be'long, but wellI proportioned; broad, , and full along tho I back, with the tail well up. The cheap I parts "of the carcase, particularly at. tho fore-end, have to Be' light and tho more expensive joints well developed, with a fair length of loin. The fat must be white' and firm;. aqd. -in moderate proportions to- tho lean, so. that, the necessity for. trimming is avoided. Tho small porker must bo quick-growing in order to be plump; neat, tight, and full of meat, but not too fat. Porkers with fine hair, thin skins, and abBenco of wrinkles sell better than coarse, rougher-looking pigs in all markets. WHAT THE BACON CURER WANTS. Tho bacon curer wants pigs between 160 lb and 2101 b live weight that will kill well and with a small percentage of offal. He dislikes paunchy baconers because they kill wastefully. The pigs must bo long in tho back, so that the sides cut up with deep, heavy “middles.” The carcases must show a high proportion of lean to fat with full, thick, firm underline. The meat must bo in the right place, that is, mostly behind tho spare rib, the forequarter being proportionately light. A heavy jowl and broad, coarso shoulders are wasteful, and lose money. The ham must be long and wide, with meat right down to the hocks. A fine skin, free from coarse wrinkles, and long straight hair are considered to indicate in the five pig plenty of lean flesh and fine but hard bone. / .WHAT THE HOUSEWIFE WANTS. She dislikes too much fat in pork, bacon and ham because it is wasteful and she cannot find a use for it all. What there is must .bo firm, and never soft or oily. The lean must be well interlaid with tho fat, and must bd moderately hard, but never tough, while full of flavour. When she pays for best .streaky she expects ■ to get it, and therefore her grocer demands good “middles” to Be able to supply her. PIG RECORDING. ' In a review ’ of the research work carried out at Lincoln College last year in

connection with pig breeding by Mr F. R. Callaghan, and published in tho Pig Brooder and Pork Producers’ Journal, a strong argument is mado of the necessity for farmors to breed only from parent stock which has proved to bo of high prolificacy. Tho economical production of pork and bacon depends in part on tho elimination of those strains with poor capacities and tho multiplification of those with good capacities. This can only be achieved by systematic, regular weighing of pigs to ascertain their progressive litter weight increase month by month. THE IMPORTANCE OF SELECTION. With this in mind, profitable pig raising must bo associated with careful breeding and this hinges largely upon selection of breeding sows and boars. As with dairy cows the criterion must be productivity on tho side both of tho sire and tho dam. To-day, however, tho pig breeder suffers from a much greater handicap in this respect than docs tho dairy farmer. Tho latter, thanks to herd testing records, over a number of years, can select high yielding cows and bulls with a butter-fat backI ing in connection with his breeding. Similar information is not yet available to tho pig breeder and only within the limited scope of personal knowledge is the productive capacity of sows and boars known. Breeding sows and boars may be fairly judged by the weights of their litters. From tho data received during the first ! year of pig recording in tho Dominion, it lias been ascertained that litter weights taken when tho pigs were eight weeks old ranged from lOOlbs to 4501b5. Of course, it is possiblo to explain some of the reasons for this wide rango and to justify light weight litters whore some exceptional circumstances have intervened. But the position is not so satisfactory when the distribution of these litter weights is examined. It was found that only eighty per cent, of the litter exceeded 3001bs weight at eight weeks of ago, so that 92 per cent, ranged downwards to lOOlbs. The industry therefore appears to bo burdened with a very high percentage of poor producing sows and in view of the fact that the above figures apply only to the herds of those farmers who wero' sufficiently interested to participate in tho recording scheme, _ it might well be conjccted that tho position as it exists in the industry as a whole is even worse. ECONOMY OF PRODUCTION. It is obvious that, in view of the narrow margins of profit existing in the pig industry, every stop tending towards economy of production should bo watched. The number of breeding sows might well be reduced, if an increase in litter-weights could be secured. Tho maintenance costs of a sow rearing a fitter of three are actually little less than those of one with a litter of six, but proportionally they are far greater. Tho question arises now as to whother low prolificacy of sows is due to (1) inherent characteristics received from breeding or pedigree, (2) from faulty management, feeding and care, or (3) from defects on the part of the sire. Probably all three factors play a part on somo occasions but (1) and (3) can be ascertained only by following up records of both sire and dam. A pig farmer who knows that the breeding of his stock js sound can afford to be generous with his feeding, whereas good feeding to poor producing pigs is uneconomical. Nevertheless the recording investigations in their first year revealed the fact that the greatest improvement to the industry can come only through farmers themselves paying greater attention to feeding, housing and care. This factor, completely overshadows all others in importance. Here, too, tho heavier fitter gives tho best return for feed consumed, for it has been ascertained that with these, feeds can be used probably 50 per cent, more profitably. A WASTEFUL PRACTICE. The use of over-supplies of skim milk and whey, without tho addition of concentrates in the form of grain or meat meals, was found to be a wasteful practice. Skim milk by itself was found to givo an average return of about Id per gallon, but when a quantity of giain meal (bran or pollard) was added to this, the returns were on the average almost doubled. . In some instances where meat meals were substituted for grain meals equally good results were secured. The best result secured gave a return of £5 18s per cow ■from pigs fed on skim milk plus a certain amount of concentrates. This was on a farm where sound attention was devoted to pig rearing. The stys were maintained in good order, the feeding was done on sound lines, and the pigs were well cared for. A number of other farms selected at random, showed results of over £2 per cow received from pigs fed on a basic diet of skim inilk. With whey fed pigs, the returns wero naturally lower and ranged from about 30s per cow up to a maximum of £2 12s per cow. As whey possesses only about one-half the feed value of skim milk these results compare fairly well, but in all cases it is apparent that in profitable pig-raising in Now Zealand tho importance of feeding, care and management ovorshadows all else.

PIG BREEDERS. NEW ZEALAND COUNCIL. GENERAL MATTERS DISCUSSED. The meeting of the council of the New Zealand Pig Breeders’ Association was concluded yesterday afternoon. Mr J. A. Russell (Palmerston North) presided, and others present were' Messrs G. S. Ross (To Puke), F. W. Cornwall (New Plymouth), N. P. Nielsen (Tiakitahuna), W. P. Bickers (Feilding) and S. Knight (Ongarua) • Following the decision of the Government to subdivide the Weraroa Central Development Farm for closer settlement and the consequent dispersal of the Berkshire and Large Black studs, the manager (Mr J. Shepherd) wrote tendering the farm’s resignation from the N.Z. Pig Breeders’ Association. Ho thanked the officers for assistance which had been given and wished the association every success in the future. The resignation was received with regret, the chairman stating that the. loss would be severely felt by the association. Reporting on the financial position the secretary stated that there was a credit balance cf £lls 12s lOd, but two amounts had been transferred from fixed deposit, a payment of nearly £2OO having to be made for the herd book. The secretary reported that registrations effected to date numbered 858 and transfers 673. Berkshire 3 led the registrations with 339 and then came Large Whites 311, Tannvorths 148. Large . Blacks 49, Duroc Jerseys 6, and Middle Whites 5. The matter of arranging to subsidise the appointment of a second judge for the pig section at the Royal Show was left in the hands of the secretary and chairman if-that action was warranted. It was decided that in future the Herd Book should bo ready by April. 1. RULE GOVERNING IMPORTATIONS. Subsequently, a special meeting of the council was held and the amended by-law affecting imported stock was adopted providing that no pig which has been imported into New Zealand from any other country shall be entered in the Herd Book except upon the following conditions: Such pig, before leaving the quarantine station, shall be inspected by'an officer of the association, such officer to bo appointed by the council for the purpose. If such inspection discloses that the pig is unsound or unworthy, it will not be admitted into the Herd Book or ear-marked. No fee shall be payable for such inspection. Tho country of origin of such pig shall be disclosed to the secretary of the association. If in the country of origin of such pig there shall bo a recognised Herd Book Society of permanent establishment, such pig shall not be entered into the Herd Book unless there shall be produced a certificate signed by the Herd Book Society of the country of origin. If in tho country of origin there is no recognised Herd Book Society, such pig shall not be admitted into the Herd Book unless the council. shall pass a resolution agreeing to suoh entry after (a) the council shall have received a' certificate from its inspecting officer that such p* is sfjjipd and worthy to be entered; (b) cofißeil shall have satisfied itself. .th*#Tffhere are proper reasons for entering aeWi pig in the Herd Book.

VARIATIONS IN MILK YIELD. EXPERIMENTS AT MASSEY - COLLEGE. PROGRESS OF INVESTIGATIONS. Details of tihe investigations into the daily variations in the yield of milk and butterfat are embodied in the annual report of the Department of Scientific and Industrial Research, which was tabled in the House recently. The experiments* were started with the Massey College herd in January, 1928. and have been carried on with satisfactory results throughout the present year. Dailv records of 56 cows have now been collected, states the report. Records have been carefully kept of weather conditions recorded at the meteorological station, which is practically in the centre of the dairyingpastures on the college farm. In the course of this investigation the opportunitv has been taken of studying a few facts of particular importance to herd-testing. These are: (a) The effect of milking cows early in the morning previous to the day of test, so that the recorded yield would represent the secretion of the animals for more than the usual 24 hours; (b) the effect of uneven intervals as compared with even intervals of milking upon the amount of fat and percentage of fat at each milking; (c) the effect of leaving strippings on the cow at one milking upon the test of fat and the secretion of fat at the subsequent milkings. Tho amount of data collected is so great that it will take some considerable time to work up. With the data .available it is possible to compare the accuracy of the C.O.R. methods of recording and standard group herdtesting methods with actual production. A few points arising from this work can be recorded at this time. The prolonging of the test day by an hour or so does not necessarily increase the production of the cow for that particular day, particularly if the cow is in full milk; hence the statement often made in connection with herdtesting —that the animal can get abnormally high tests by milking specially early on the morning previous to test —is open to severe question. The leaving of strippings on the cow, however, has certainly an effect upon the subsequent test. It raises the test of the milk at the subsequent or following milking, and so produces an abnormally high result for that day; but it is not an economic practice, because the additional fat so recovered does not make up for the fat lost at the previous milking. When cows are milked at uneven intervals of milking the test at the milking after the long interval is higher than that after the short milking, but when milked at even intervals the tendency is for the test to be much the same at each. It would appear, however, that some cows give their higher test in the morning, while others have it in the evening. , .... A point with regard to + he condition of animals at the time of calving was most clearly brought to notice, it was shown that, animals coming into profit in hirh condition secreted wilk with a higheT test than normal for about the first six weeks; they simultaneously lost condition. There is a clear example here of the necessity for the better feeding of stock in the winter dry period and of the profit derived therefrom. CANTERBURY MARKETS. (Per Press Association). CHRISTCHURCH, Oct. 11. The potato market has • lost, some of the brightness it possessed earlier in the week. On Wednesday sales of October deliveries were made at £ll ss, but to-day buyers are not accepting offers of £ll. However, it is tho prompt market that has mot with the principal check, dropping back to £9 a ton f.0.b., S.I. They wero ruling at £lO on Wednesday. Tho Waipiata is expected to sail from Lyttelton on Monday or Tuesday, and she will be followed by the Waipahi probably on Wednesday. It is expected that the two ships will take about 6000 sacks from both ports for Auckland. Tho wheat market is unaltered. Seeds are in small demand and there is very little in farmers’ hands. Perennial ryegrass is worth up to 7s per bushel f.0.b., 5.1., Italian, to 6s; cocksfoot 13d to 13jd a lb. for machine-dressed and cowgrass 80s per cvvt. The quality of cowgrass this season is very indifferent and merchants are not prepared to quote more than 4£d a lb. to farmers. European seed is being offered at a very low rate. Dogstail is quoted at 7d to 7id a lb. Tho Irish crop is a heavy ono and there is no export outlet. Fescue is quoted at 9jd a lb. WELLINGTON PRODUCE MARKET. (By Telegraph.—Special to “Standard.”) WELLINGTON, Oct. 11. Wheat continues firm at 7s 4d to 7s 6d per bushel. Bran is becoming easier, but is still in short supply and is quoted at £8 10s per ton. Pollard —£10 15s per ton. Potato quotations have considerably hardened and the market is very sensitive. Present prices range between £l2 10s and £l3 10s and the quality fairly well maintained. Canadian onions are tho only source of supply at the moment at 20s per bag. Maize—6s 8d per bushel. Chaff —£9 per ton. Oats —4s to 4s 6d per bushel. DAIRY PRODUCE. LONDON QUOTATIONS. (Australian Press Association.) LONDON, Oct. 10. The butter market for Colonial supplies is firm. Choicest salted New Zealand, 182 s to 184 s; Australian, 176 s to 178 s; unsalted is very scarce at nominal quotations, New Zealand and Australian, 185 s to 190 s. The cheese market is steady. New Zealand, 94s to 955. Dalgety and Coy., Ltd., have received the following market advice from their head office, London, under date of the 10th instant: —Butter: Market quiet. Danish, 194 s to 196 s (202 s to 2045); N.Z. finest salted, 178 s to 183 e (179 s to 183 s); Australian finest unsalted, 186 s to 190 s (176 s to 180 s); salted, 174 s to 178 s (174 s to 178 s); g.a.q., 170 s to 172 s (170 s to 1745). Cheese: Market slow. N.Z. cheose, white, 94s to 95s (95s to 965); coloured, 93s to 94s (94s to 955); spot price for Canadian white, 95s to 97s (95s to 975); Canadian coloured, 95s to 97s (95s to 975); c.i.f. price for Canadian, 93s to 97s (96s to 975). MELBOURNE PRODUCE PRICES. MELBOURNE, Oct. 11. Wheat, 5s 7d; flour, £l2 15s to £l3; bran. £7 15s; pollard, £7 15s; oats, 4s Id to 4s 2d;_barley, English, nominal; maize, 5s 7d. FROZEN MEAT. ~Dalgety and Goy., Ltd., report under date London, 10th October, 1929:—Lamb: N.Z. prime Canterbury, 28-361b5., BJd; North Island, 28-361b5., Bid; Canterbury, 36-421bs, 8d; North Island, 36-421b5., 73d; Canterbury, 2nd quality, 8d; North Island, 42-501b5., 7Jd; North Island, 42-501b5., 7Jd. Market: Any change is in favour of buyers; demand runs principally oh light weights. Mutton: N.Z. prime Canterbury, 48-561bs ; , 6§d; North Island, 48-561b5., 6£d; Canterbury, 56-641b5., 6£d; North Island, 56-641b5., 5Jd; Canterbury, 64-721b5., sjd; North Island, 64-721b5., sld; Canterbury ewes, 48-64]bs., 4£d; North .Island ewes, 48-641b5., 4Jd. Market weak; demand limited. Beef: Argentine chilled hinds, 7d; fores, 4Jd. Pork: English porkers, 80-1001bs., 13d; New Zealand porkefs;. 80-1001 bs., 93d'; 100-1201b5., 9d. Market for New Zealand' pork very firm; I demand active.

FEILDING CATTLE FAIR. MARKET WEAKENS. (Special to “Standard.”) FEILDING, Oct. 12. Although the attendance at the annual cattle fair at Feilding yesterday, was one of the largest over seen at tho local yards, operators were wanting in confidence in tho market and a large percentage of pons was passed in. The entry of cattle wa3 heavy, approximately 4000 head coming under tho hammer. Up to a certain level the inquiry was good, but vendors were unable. in many cases to meet the market, this being most noticeable in the case of the grown bullocks. Yearling and two-year-old steers and heifors showed a greater tendency to hold their own but the high prices of the last fair were not paid. Tho following were tho quotations: Four-year P.A. bullocks, £ll 17s 6d, £l2 10s, £l2 16s; 4 and 5-year S.H. and Red Poll bullocks, £8 17s; 5-year Hereford bullocks, £l2 10s; 4 and 5-year Hereford bullocks, £l2 6s; 4-year Holstein bullocks, £11; 3-year Hereford steers, £9 10s, £lO 15s; 4-year Hereford bullocks, £ll 4s: 2-year P.A. steers, £8 2s, £8 6s, £9 6s, £9 15s 6d; 2- Hereford steers, £7, £7 16s, £8 13s 6d; 3-year P.A. steers', £ll 15s; 2-ycar m.c. steers, £9 Is; 2-year P.A. heifers, £8 15s; P.A. cows, £8 12s 6d; S.H. Jersey cross run cows, £7; P.A. yearling heifers, £6 8s 6d, £7 10s; 18-months P.A. heifers, £7 18s; cows and calves, £5 4s; yearling P.A. steers, £6 3s, £6 15s; yearling Hereford heifers, £5, £5 10s 6d, £5 14s 6d; yearling Hereford steers, £6 16s; yearling Jersey neifers, £3 3s, £4 12s 6d, £5, £5 16s, £6, £6 6s, £6 15s, £7, £8 12s; yearling S.H. heifers, £4 17s 6d, £5 ss, £6 la; springing dairy cows, £6, £7, £9 15s; spring dairy hoifers, £5, £5 10s, £6 Is, £8 17s 6d; 2-ycar empty heifers, £6 ss, £6 10s; empty cows, £2 lOs, £3 2s 6d, £3 17s, £4 4s, £5 10s, £5 16s. Sheep.—-Only a few head were entered, the following being tho quotations: —Fat hoggets, 20s, 275. 30s, 33s 6d; fat owes, 21s 6d (shorn), 24s 4d, 35s 8d; fat wethers, 32s 9d (shorn), 35s 9d, 36s 7d. Store sheep: Wether hoggets, 19s (shorn), 23s 6d, 265; ewes and lambs, 335; shorn four-tooth wethers, 235; shorn ewe hoggets, 22*. AUCTIONEERS’ REPORTS. . Dalgety and Co., Ltd., report their entries comprised some 12U0 head which were offered to a very large attendance of the public, quite a number of whom, however, while occupying a prominent position on tho rails, tailed to catch the auctioneer’s eye. Tho cattle on the whole wore in very good condition and comprised numerous station bred fines of P.A. and Hereford bullocks, steers and heifers. The dairy section was well supported, the majority being yearling Jersey cross and grade yearling Jersey tieifers for which there was a fair demand. The sale must bo considered quite satistaetory, nearly tho whole of tho yarding being cleared, but prices were hardly up to those which have recently been ruling.— Quotations: 4 and 5-year P.A. bullocks, £l2 10s 6d, £l2 11s, £l2 16s; 3- P.A. steers, £lO 5s to £lO 18s 6d; 3-year Hereford steers, £9 17s 6d to £lO 14s 6d; 3-year S.H. steers, £9 ss; 2-yoar P.A. steers, £9, £9 10s to £9 15s 6d; 2-ycar Hereford steers, £8 10s; yearling P.A. steers, £6 15s; yearling Hereford steers, £6 16s; fat bullocks, £l2 7s 6d to £l4 2s; 2-year Hereford heifers, £8 10s; 18-inonths P.A. hoifers, £7 18s; yearling P.A. Heifers, £5 10s 6d; yearling Hereford heifers, £5 14s 6d; empty crossbred cows, £6 to £6 16s; empty station-bred cows, £8 to £8 7s 6d yearling Jersey heifers, £6 10s, £6 14s to £7. A small yarding of sheep also came to hand which met / with keen competition at slightly advanced rates. Light fat wethers, woolly, 35s 9d; fat and forward ewes, woolly; 24s 9d; few fat hoggets, extra prime, 355, 4-tooth wethers, shorn, 235.

Abraham and Williams, Ltd., report:— There was penned . a particularly heavy yarding of all classes of cattle. With the exception of a few pens the condition of the cattle was not up to tho usual cattle fair standard, owing, no doubt, to the particularly backward season. There was a particularly large representation of buyers from all parts of the North Island, moro particularly' from the Main Trunk, Hawke’s Bay, Taranaki and Wanganui districts. At the commencement the market was inclined to "be sticky but;- as the sale progressed this improved fconsiderably, and we have to report a very successful sale indeed, considering tho state of the market. Young beef bred cattle wero being sold on a slightly lower parity than at previous sales; grown cattle wero selling at late rates, while the market for yearling dairy heifers was particularly keen, tho result being we sold every pen under tho hammer with the exception of one. In the beef section wo yarded some particularly choice beef which sold at late rates. In the sheep fine fat sheep were, if anything, a little more keenly sought after, whilst store hoggets showed an advance in price of from 18d to 2s per head. The following are a few of our prices: Account A. Honore:. 27 4-year P.A. bullocks, £ll 15s. 9 Hereford do., £10.175. Account C. T. Iveeble: 24 2-ycar P.A. steers (small) £8 2s; 14 yearling steers, £5 ss; 41 yearling P.A. steers, £6 11s; 20 S.H. cows, £6 Is. Account F. W. Lethbridge: 8 bullocks, £lO 15s. ; Account T. Green: 16 bullocks, £l2 ss. Account T. Shannon estate: 12 bullocks, £l2 Is. Account A. Montgomerie (conjunction Dalgoty and Co., Ltd.)': 80 5-year P.A. bullocks, £l2 16s; 60 do., £l2 10s 6d. Account P. McVerry: 8 yearling steers, £7 12s 6d; 28 yearling P. A. steers, £7; 20 3-years steers (small), £lO ss; 21 P.A. cows and heifers, £8 12s 6d. Account J. Northcott: 17 bullocks, £l2 10s. Account J. C. Kennedy: 53 3-year Hereford bullocks, £lO 4s. Account L. E. Harris: 8 fat cows, £l3 Is; 2 fat heifers, £lO 3s 6d; 2 fat cows, £9. Account L. Meads: 3 fat heifers, £ll 9s. Account G. V. Shannon: 10 2-year P.A. steers, £9; 7 yearling P.A. steers,. £7 ss. Account Tews and Miors: 10 2-year P.A. steers, £9 Is. Account W. G. Shannon: 20 2-year P.A. steers (small), £8 6s; 20 do., £8 2s; 21 3-year rough bullocks, £8 15s; 19 do. £8 17s; 19 2-ycar heifers, £6 8s 6d; 8 yearling heifers, £6 15s. Account W. C. Small: 13 2-year P.A. hoifers, £8 15s. Account Barber estate : 25 yearling P.A. steers, £7 10s; 15 do. £6 ss. Account Flock House: 38 yearling P.A. steers, £5 Us. Account S. Hall; .31 yearling steers, £6; 22 yearling heifers, £5. Account R. Port: 25 yearling steers, £7 11s. Account R. McDonald: 41 yearling Hereford hoifers, £5. Account R. Gavigan;. 16 yearling Jersey heifers, £6 7s. Account H. Easton: 14 yearling Jersey heifers, £6 7s 6d. Account A. Barlow: 16 yearling Jorsey heifers, £5 16s; 14 do. £5 ss; 15 do, £7 Is; 20 do. £8 12s. Account P. Rutherford: 12 yearling Jersey heifers, £7 ss. Account Mrs Rendoll: 16 yearling Jorsey heifers, £6. Account W. Hopping (conjunction other firms), 41 S. cows, £7 Is; 20 forward cows, £6 ss; 21 store and forward cows, £5 ss; 20 do. £s_ 3s; 19 young cows, £4 17s 6d; 8 empty heifers, £6 10s. Sheep: fat wethers, 32s 9d to 35s 3d; fat wethers, 25s to 35s 8d; wether hoggets,. 23s 6d to 265. TALLOW, HIDES AND SKINS. Tho fortnightly sale of tallow, hides and skins was held at Wellington yesterday. Sheepskins: Competition for , these was keen; dry skins, as was expected, were a little easier, being fnom id to id lower than last sale. Salted skins were keenly sought after, prices being very firm. Hides: The market for these is still poor, ox hides being about id lower for heavies and id lower for light weights. Cow hides were also easier, especially for light weights which were Jd to id lower. Calf 6kins were firm. Tallow: The market for this showed no change, prices being on a par with last sale. The following is the official range of prices:—Dry sheepskins: Half-bred, 10Jd to llid; fine crossbred, 9Jd to llid; medium crossbrod, 9d to llid; coarse crossbred, 6id to lOd; half wools, 7id to lOd; quarter wools, •6Jd to 9id; pelts, 6id to 9Jd. Salted skins: Pelts, 3s to 3s. 6d; quarter wools, —, —; half wools, 5s to 7s 7d; three-quarter wools, 7s 4d to 9s 8d; full wools, 9s 2d to 10b Id; extra large, 10s 6d to lls Id; lambs, Is 6d to 2s. Hides: Ox, 331bs. to 441b5., 6jd‘ to 63d; 451bs. to 521b5., 6id to 7d; 531bs. to 591b5., 6id to 7id; 60Ibs. to 691b5., 6Jd to 7Jd; 701bs. and over, 5d to Bgd; cow, 331bs. to 391b5., sid to 7d; 401bs, to 481b5., 4id to 63d; 491bs. and over, s|d to 6gd; kip, 251bs. to 321b5., 4id to 6Jd; 171bs. to 241b5., 5d to Bjd; yearling, lllbs. to 161b5., 8d to 10d; calf, 91bs. to lOlbs., 8d to lOd; 61bs. to 81hs„ 10id to 14Jd; lib. to 51bs„ B|d to 14d. Tallow: In casks, 25s to 30s; in, tins, etc., 21s to 26s 6d- Sundries: Cow tails, 12d to 14id; horse hair, 17id to 19id.

WELLINGTON STOCK EXCHANGE. YESTERDAY’S BUSINESS AND PRICES. Wellington sharebrokers had a good day yesterday for the exchange was able to record 18 separate transactions. Tho buoyancy noted the previous day gathered momentum and prices again showed an upward tendency. This was particularly the case with bank shares. Bank of New South Wales rose a further 2s 6d with | buyers at £49, but thore was no response. Union Bank moved up Is 6d to £l4. 14s, but sellers were asking Is moro. National Bank of New Zealand show steady improvement, the shares appreciating 9d on the day. " Bank of New Zealand at. 60s 3d have proved very attractive to investors and four parcels were quitted at the price. English, Scottish ana Australian Bank were bid 6d higher at £7 18s 6d, but sellers were holding for 3s 6d more. Government securities wero firm and after many days passing without business a transaction eventuated yesterday. Wellington City 4i per cents. (1938). were firm at £93. The demand for Wellington Gas debentures, Wellington Racing Club, and New Zealand Breweries was steady without any change in the bids. The" demand for Goldsbrough Mort appears to havo eased for thero wore no declared buyors, while sellers quoted 465. Wellington Deposit wore firm at 10s 6d, but the offer is meeting with no response from holders. Insurance shares showed a rising tendency. National Insurance were a shade higher at 16s 6d, and Now Zealand Insurance at 45s 9d, and South British Insurance at 64s were both 3d better. Wellington Meat Export ordinary were again in demand at 7s, but as a sale at 7s 6d has been registered it appears that buyers must raise their bids. Huddart Parker (ord). witnessed a revival of domand, 43s 7d being offered. Taupiri coal have not been quoted for somo time, but yesterday they were bid 28s 9d; Westport Coal were firm as usual. National Timber advanced 6d to 8s 6d and Leyland O’Brien Timber rose 3d. Now Zealand Breweries were up Is 2d at 88s Bd. British Tobacco have moved up Is 6d on the day. Colonial Sugar sold at £54 7s 6d, while threo weeks ago they changed hands at £57 15s. Movements based on yesterday’s buying prices compared with previous bids were as under: — RISE. s. d. English, Scottish and Australian Bank 0 6 National Bank of New Zealand ... 0 9 Bank of New South Wales 2 6 Bank of New Zealand 0 1 Union Bank 1 6 Wellington Deposit ...' 0 2 National Insurance 0 1 New Zealand Insurance ... 0 3 South British Insurance 0 3 National Timber 9 6 Leyland O’Brien Timber 0 3 N.Z. Breweries ... 1 2 British Tobacco 1 6 Burns, Philp and Co 0 4 FALL. National Bank of Australasia (£5) 0 6 Mount Lyell 0 3 Buying and selling quotations at the final call on the Wellington Stock Exchange yes-

YESTERDAY’S SALES. The following sales were made on the Stock Exchanges of the Dominion yesterday:— Wellington.—s p.c. Government Stock (1930) £99 7s 6d, Commercial Bank £1 8s lid, Bank of New Zealand (four parcels) £3 0s 3d, National Bank of New Zealand £6 14s 3d, Dalgety and Co. (Melbourne register) £l3 IBs, N.Z. Breweries, 10 p.c. bonds £1 8« lOd, N.Z. Breweries, shares £4 9s 3d and £4 9s, Staples and Co. £2 13s 9d, N.Z. Insurance £2 5s lOd, Welling, ton Meat Export (ord.) 7s 6d, Wellington Woollen (pref.) £6 15s, Colonial Sugar £54 7s 6d, Wilson’s Cement (two parcels) £2 2s 6d. Auckland.—4J p.c. Inscribed Stock, 1938 £IOO 7s 6d and £IOO 106, Bank of Australasia £l4 2s 6d, Commercial Bank of Australia (2) Is 8d lid, Bank of New Zealand (two) £3 0s 4d, New Zealand Insurance (two) £2 6s 3d, South British Insurance (two) £3 ss, Goldsbrough Mort (two) £2 5s 9d, Auckland Gas, contributing (2) 18s 3d, New Zealand Breweries £4 8s 6d, Staples Brewery £2 13s, Waihi 13s 6d. Christchurch.—Commercial Bank of Aus. tralia (7) £1 8s lid, National Bank of Australasia, £5. paid £9 3s 6d, Australian Bank of Commerce £1 13s 7d and £1 13s

Bd, Goldsbrough Mort £2 5s sd, N.Z. Farmers’ Co-op. (6J per cent, stock, 1940) £95, N.Z. Refrigerating, 10s paid (3) 6s, Staples’ Brewery (3) £2 14s 2d, Tooth’s Brewery (2) £2 11s 7d, Winding Creek, 6d paid (2) Is 4d. Sales reported: N.Z. Breweries’ bonds £1 9s 3d, Dalgety and Co., Ltd., £l3 18s, United Building Society 15s 6d, N.Z. Refrigerating 10s paid (late Oct. 10) 6s, Commercial Batik of Sydney £24 16s 6d, N.Z. Farmers’ C0.0p., 6i per cent, stock, 1940 £95. I Dunedin.—Electrolytic Zinc (ord.) (reported) £1 16s 4d. GOVERNMENT STOCKS. (Australian Press Association). LONDON, Oct. 10. The following table gives the latest guotations for consols and colonial inscribed stocks, compared with those of October 3:

terday were as under: — Buyers. Sellers. N.Z. GOVT. LOANS— £ s. d. £ s. d. 4A p.c. Ins. Stk., 1938 100 2 51 p.c. ditto, 1941 .... 99 10 6 100 10 0 0 — 54 p.c. Ins. Stk. and Bonds, 1936 101 15 0 — 54 p.c. Bonds, 1933 ...101 5 0 — 4A p.c. ditto, 1941, 1939, 1938 100 2 6 — 44 p.c. ditto, 1930 — 99 17 6 DEBENTURES— Wellington Gas Go. ..iUU 5 0 — Well. Racing Club ...106 10 0 — N.Z. Breweries (bonds) 1 8 6 1 9 9 Wellington City, 44 p.c., 1938 93 0 0 — BANKS— Australasia — |14 3 0 Australian Bank of Commerce 1 13 6 1 14 2 Commercial of Aust. (ord.) — 1 9 0 English, Scottish and Australian 7 18 6 8 2 0 National of N.Z 6 14 3 6 14 9 National of Australasia (£10) - 19 6 0 Ditto (£5) 9 2 6 9 5 0 New South Wales .... 4y 0 0 ' ■New Zealand 3 0 1 3 0 6 Ditto (long term) 1 8 6 . Union of Australia ... 14 14 Ditto (Melbourne re0 14 15 0 gister) 14 14 6 — FINANCIAL— Goldsbnough Mort .... — Abraham and Williams 2 6 0 (ord.) — 4 10 0 Dajgety and Co. (Mel. Register) — 14 2 0 N.Z. Guarantee Corp. (ord.) — 0 9 9 • Ditto (pref.) 1 2 0 — Wellington Deposit and Mortgage 0 10 6 — GASChristchurch 1 6 6 — Gisborne 0 13 0 — Wellington (ord.) — 1 14 0 Ditto (pref.) 0 17 9 — INSURANCE— National 0 16 6 0 16 9 New Zealand 2 5 9 — South British 3 4 0 — MEAT PRESERVINGGear 2 3 6 — Canterbury Frozen Meat (ord.) 8 0 0 — N.Z. Ref/igerat. (10s) — 0 6 2 Ditto (£1) — 3 13 3 Well. Meat Ex. (ord.) 0 7 0 0 8 3 TRANSPORT— Huddart-Parker (ord.) 2 3 7 2 4 3 Union Steam (pref.) . 1 1 0 — P. and O. def. stock .. 2 14 9 3 0 0 WOOLLEN— Kaiapoi (ord.) — 0 14 0 Wellington (ord.) — 6 15 6 COAL— Taupiri (ord.) 1 8 9 — Westport 1 14 3 1 15 0 Westport-Stockton (pref.) 0 4 0 0 4 6 Waipa — 0 14 0 Grey Valley — 1 9 6 TIMBER— Kauri — 0 18 0 Ley land-O’Brien 1 11 3 — National 0 8 6 0 10 6 BREWERIES— New Zealand 4 8 8 4 10 3 Staples and Co 2 13 6 2 14 3 Ward and Co 0 12 6 — Sunshine — 0 15 0 MISCELLANEOUS— Burns, Bhilp and Co. 2 4 4 — British Tobacco (Aust.) (ord.) 2 8 0 2 8 9 Colonial Sugar 54 5 0 — Dental and Medical ... — 0 11 0 Electro. Zinc (ord.) ... 1 15 6 — Ditto (pref.) 1 16 6 — Howard Smith (ord.) — 1 4 0 N.Z. Paper Mills .... — 1 0 3 Sharland and Co. (ord.) — 1 1 6 Taranaki Oil 0 4 6 0 5 3 Wairarapa Farmers’ (ord.) 0 2 9 Well. Queen’s Theatre 1 3 Wilson’s Cement 2 2 0 — 3 2 3 0 Strand, Ltd 1 3 0 — MINING— Waihi — *0 13 7 Mount Lyell 2 2 6 — *Cum. dividend. tEx dividend.

Price. Variation. £ S. d. £ S d. Consols Funding Loan, 4 p.c., 53 2 6 13 9t Of 1960-90 84 0 0 1 0 War Loan, 5 p.c., 1929-47 101 15 0 15 Ot Conversion Loan, 3£ p.c. 73 10 0 1 0 0+ Victory Bonds, 4 p.c. Commonwealth, 5 p.c., 91 6 3 6 3+ 1922-27 95 0 0 11 3+ Commonwealth, 6 p.c., 6+ 1931-41 100 11 3 2 New Zoaland, 4 p.c., 1929 99 10 0 same New Zealand, 3£ p.c., 9t 1940 85 16 3 3 New Zealand, 3 p.c., 1945 76 2 6 n 3t New Zealand, 6 p.c., 0+ 1936-51 103 10 4 5 New South Wales, 4 6+ p.c., 1933 New South Wales, 3 93 7 6 7 9+ p.c., 1935 85 8 9 3 New South Wales, 3j p.c.. 1930-50 73 10 0 same New South Wales, 5J 6* p.c., 1922-32 97 10 0 2 Now South Wales, 65 9t p.c., 1930-40 101 3 9 3 New South Wales, 6 p.c., 1930-40 99 1 3 1 3+ Victoria, 3 p.c., 1929-49 70 0 0 5 Ot Victoria, 3i p.c., 1929-49 73 7 6 2 6* Victoria, 5£ p.c., 1930-40 97 10 0 2 6+ Victoria, 5 p.c. 1932-42 93 7 6 6 3+ Victoria, 43 p.c., 1940-60 90 0 0 same Queensland, 3£ p.c., IJ 0 8 6t 98 9 0 7 Queensland, 3 p.c., 0* 1922-47 70 15 b Queensland, 6 p.c. 6t 1930-40 100 2 6 2 Soutn Australia, 3£ p.c., 0 1939 84 5 same South Australia, 3 p.c. Ot 1916 or after 57 5 0 5 South Australia, 6£ p.c. 9t 1930-40 101 6 9 6 Tasmania, 3£ p.c., 84 1920-40 0 0 same Tasmania, 3 p.c., Ot 1920-40 79 12 6 1 0 Tasmania, 6£ p.c., Ot 1930-40 102 3 9 2 0 West Australia, 3£ p.c., 1920-35 88 0 0 same West Australia, 3 p.c., 11 3t 1915-35 85 18 9 West Australia, 6 p.c., 6t 1930-40 100 7 6 7 t Higher. * Lower.