FARMING AND COMMERCIAL

Manawatu Standard, Volume LI, Issue 198, 23 July 1931, Page 5

FARMING AND COMMERCIAL

STOCK MARKET. SALE AT ""ADDINGTON. LATE KATES MAINTAINED. Per Press Association. CHRISTCHURCH, Julv 22. The entries at the -weekly market at Addington to-day were again of moderate size, but the market was keen in all the major sections, and late rates were well maintained. Storo Sheep.—A mixed yarding with a free demand for all good classos. Prices wero firm at late rates. Values were: Good s.m. half and three-quarterbred owes, 13s to Tlss; medium 4 and 6-tooth threc-quarterbred ewes, to 14s; good ewe lambs, to 14s; good wether lambs to 12s; ordinary wether lambs, to 8s; ordinary halfbred wethers, 7s fid to 9s 6d; plain halfbred wethers, to 8s 6d; Merino wethers, 3s 3d to 4s 6d. , Fat Sheep.—An entry of 4000 head. There was steady and keen demand and a very good sale resulted at values equal to those ruling last week. Extra prime hca.vy wethers sold to 24s 7d; prime heavy, 18s to 20s 6d; medium, 14s 6d to 17s 6d; light, 10s to 14s; extra prime ewes, to 21s 7d; prime, 15s to 18s; medium, 11s to 14s; light, 8s to 10s. . Fat Cattle.—An entry of 355 head, including several consignments from Southland, Otago, and North Otago. The quality was improved generally. It was a keen sale throughout, and there was an advance on last market of 10s and up to £1 a head. Best quality beef made 30s to 34s per 1001 b, and in odd cases 355; good prime beef, 25s to 295; secondary beef, 20s to 245, and rough down to 16s. Values were: Extra prime heavy steers, to £ls 17s 6d; prime heavy, £ll 10s to £l4; primo medium weight, £9 to £11; ordinary quality, £6 10s to £8 10s; light, to £6 ss; extra prime heifers, to £l4 2s 6d; prime, £8 10s to £lO ss; medium, £6 to £8; light, to £5 10s; extra primo cows, to £l2 17s 6d; prime, £7 10s to £9 10s; medium, £5 10s to £7’; light, to £5 Fat Pigs.—A medium entry and tho demand throughout a little better. Choppers, 50s to £6 18s 6d; baconers 38s 6d to 56s 6d; heavy baconers, £2 19s 6d to £3 153 {average price per lb, 4?d to sid) ; porkers, 32s to 38s 6d; heavy porkers, 41s 6d to 45s 6d (average price, per lb, 5Jd to 6jjd). JOFINSONVILLE SALE. Prices at Johnsonville yesterday were steady, except for ewes, which were slightly easier. Wright,, Stephenson and Coy., Ltd., and Abraham and Williams, Ltd., offered an average yarding of all classes of stock. The quality of # the cattle yarding was not up to tho usual standard; the offering comprised mostly mediumweight bullocks, with a few pens of heavy Erime cattle and some light-weight prime eifers. Competition was good at last week’s rates; wethers and ewes met with fair'competition, though ewes were slightly easier as compared with last week’s rates. Lambs met with a good demand. Prices ranged as follow: —Heavy bullocks, £9 17s 6d, £9 10s, £9 ss, £9, £8 15s, £8 12s 6d, £8 ss; bullocks, £7 12s 6d, £7 10s, £7 ss, £7 to £6 15s; bullocks, light, £6 10s, £6 ss, £6 2s 6d, £5 15s; heifers, £4 ss, £3 17s 6d, £3 15s, £3 10s, £1 7s 6d, to £3; vealers, £2 13s, £2 6d, £2 ss, £2 4s, £2 to 30s; wethers, heavy, 18s 2d, 17s 6d, 17s, 16s 9d; wethers, 16s, 15s lOd, 15s 9d to 15s 6d; owes, heavy, 15s 6d, 15s, 14s 6d, 14s 3d to 14s; ewes, 13s 6d, 13s, 12s 9d, to 12s 6d; lambs, 15s lid, 15s 6d, 15s, 14s Bd, 13s, to 10s. WOOL MARKET. NEW ZEALAND’S CARRY-OVER. Per Press Association. WELLINGTON, July 22. According to a review compiled by Messrs Dalgety and Company, Ltd., New Zealand’6 wool carry-over at June 30 was 200,000 bales, of which 180,000 are greasy and the balance slipe. The review emphasises that a diSicult period is being passed through and points to tho need for maintaining quality and for the encouragement of new markets, notably Japan. TJp to the present all classes of stock had wintered well and there had been practically no losses, stated the farm report presented to a meeting of the Board of Governors of the Canterbury .Agricultural College. The turnips had I turned out much better than was expected and there would be sufficient to carry all the sheep until at least tho second week in August, when the green feed and young grass should bo available.

WOOL CONFERENCE. GATHERING AT MELBOURNE. It is generally recognised that tho Empiro Wool Conference at Melbourne last week did nothing very revolutionary (states a Sydnoy correspondent). There are somo exports .however, who hold that tho conference was juslified for one thing it did —a decision not to attempt to combat tho law of supply and demand in tho marketing of wool. As a result of the meeting a continuance of sound marketing principles seems to be assured. Reviewing tho situation ono expert says: “Had any effort been made to control prices artificially tho natural economic law would have eventually prevailed. It has shown its inevitable action in tho caso of many commodities with which price-fixing has been attempted. The Melbourne decision, made by tho authorised representatives of three countries, which combined grow 40 per cent, of the world’s wool, should decisively prevent thoso with venturesomo but unsound idea 3 from experimenting with schemes, tho outcome of which would be chaos. Apart from all other aspects, the decision arrived at makes the deliberation of the conference valuablo to the pastoral industry. Unless an effective method _of controlling tho world’s annual production and its consumption of wool year by year can bo devised, any effort to control its soiling price must prove as futile as Australia’s attempt to keep up tho same expenditure when tho values of her primary products are low as when they, were on boom levels.” At the conference an estimate was made of the quality of wool likely to bo produced in the Commonwealth during the coming season and tho total number of bales that will probably be available for sale. The following, figures show how tho estimate compares with the total for previous seasons, the figures first mentioned showing the total bales in the season’s clip, while those in parentheses show the total receipts at stores for sale:—l927-28, 2,673,000 (2,446,780); 1928-29, 2,862,877 (2,690,486); 1929-30, 2,867,000 (2,582,000); 1930-31, 2,728,000 (2,439,166); 1931-32, 2,942,500 (2,675,000). The receipts for 1930-31 are to the end of May and the figures for 1931-32 are estimated. Tho Sydney allocations provide for tho offering of 517,000 bales before Christmas, compared with 464,000 bales during the same period this soason. Sales are to start on August 31—two weeks earlier than in 1930. According to information received by the Graziers’ Association the Chinese National Government has made available £2,000,000 for the purpose of developing the woollen manufacturing industry in that country. Tho association is giving every assistance, and may send representatives to China. TEETHING TROUBLES. CARE OF THE HORSE. Horses from four to four and a-lialf years old should have their mouths examined occasionally to see if all is going on well; also all young teething animals, horses, cattle, sheep, and dogs. If at any time they seem to fall off in condition without apparent cause, examine the mouth and teotli to see if they arc all right, says F. F. Wentworth in Farm, Field and Fireside. Horses at four years old and sometimes younger are very subject to a distressing cough. At this age the third temporary molar is being replaced by the permanent tooth, also tho sixth molar, the] last in the row, is being cut. There is often a good deal of irritation and inflammation which extends to the back of the throat and causes a cough. , In the morning when the animal starts to feed, coughing results, the cough being lone- and prolonged, and in some cases the animal may keep on coughinq for 20 or even 40 times without ceasing, being due to irritation of the larynx. In some cases the cough is associated with the tendency to diarrhoea, due to the animal swallowing its food improperly masticated. It is well known that young horses will stand more work and fatigue than a three or four-year-old animal. At three yeans old eight permanent'molars are being cut and it is no wonder that at about three and four years old during dentition the animal becomes feverish and out of condition. ’ Rest the horse, putting him into a loose box and not working again until better. Feed on crushed corn, hay, grass, if in season, and ,in winter tirpo crusned carrots. Give a gentle aperient, such as three ounces of Epsom salts, and a tablespoonful once or twice daily of the following powder in food: —Powdered bicarbonate of soda 4ozs., powdered nitrate loz., and powdered foenugreek 3ozs. Swab the mouth out with a lotion twice daily, using'powdered alum loz., water, half a pint. If necessary, pull out the milk teeth to relieve inflammation and hasten the cutting of the permanent teeth. Sometimes the gums being lanced affords relief, but it should be done with proper gum lancet. Lancing the gum is easily done at the front of the mouth, but difficult with the last two back teeth. FROZEN MEAT, Tho Now Zealand Meat Producers’ Board reports the following shipments of frozen meat from New Zealand:— Beef. Mutton. Lamb. Pork.

111,792 1,530,035 5,229,186 88,569 Boneless beef (bags).—London 1479, Liverpool 276, Glasgow 56,163, New York 1756, Boston 1577, Honolulu 177. Total, 61,428. With the “low prices ruling for potatoes at the present time, some farmers in North Otago aro advocating the feeding of tubors to cattlo, basing their suggestions on figures furnished by a farming journal to the effect that 20lb of potatoes, equalling 4£lb of dry matter, is tho equivalent of 80lb of mangels, equalling 7£lb of dry matter.

WELLINGTON STOCK EXCHANGE. YESTERDAY’S BUSINESS AND PRICES. There was a strong buying list shown by tho Wellington Stock Exchange yesterday and the demand was bettor spread than usual. Government securities were in strong demand; more bank shares wero wanted, and there was a good inquiry for other shares. There were threo sales reported. The demand for Government stock and bonds was very pronounced, bub sellers were scarce. The per cent, stocks and bonds, 1939, and 1938, wero very firm at £9B 15s, and the 4i per cent, bonds, 1941, wero also wanted at £9B 15s. The 5i per cents., 1941, wero firm at £96, and the 5i per cents., 1932, at £99 15s. The 5i per cent, stocks, 1933, were steady at £99 10s, and the bonds were 2s 6d higher at ~£99 12s <>d. The 5£ per cent, bonds, 1936, wero in demand at £99 ss. New Zealand Breweries’ bonds wero steady at 21s 3d with no sellers. Bank shares were in better demand than on the previous dsy. Bank of Australasia, at £9, were up 2s 6d. Australian Bank of Commerce were in demand at 13s 9d. Commercial Bank of Australia wero a shade higher at 15s cum. dividend. English, Scottish and Australian Bank were 4s higher at £4. Bank of New South Wales were steady at £24 ss. Bank of New Zealand long-term were firm at 26s 6d. National Bank of Australasia are again receiving attention, from investors, and yesterday the £lO naid shares were wanted at par and the £5 paid at £4 7s 6d. Union Bank advanced another is to £6 15s. Dalgety and Co. were up 6d at £6 7s. Goldsbrough, Mort and Co. were firm at 20s. Ne\y Zealand Guarantee Corporation, ordinary, were wanted at 4s 9d, but sellers asked 5s 2d. There was a bid of £4O for New Zealand Loan and Mercantile, ordinary. National Insurance wero steady at 12s lid, and South British at 50s, Gas shares v/opo firm; Christchurch Gas at 25s and Wellington Gas at 26e 9d. New Zealand Refrigerating, 10s paid, were easier at 3s. Huddart, Parker, ordinary, at 20s, and Wellington Woollen preference at £4 10s were unchanged. Westport Coal wero up Is at 235. Loyland-O’Brien Timber were firm at 21s. New Zealand Breweries wero 9d higher at 32s 9d, and there were two sales reported at 33s 4id. Staples and Co. were firm at 325. British Tobacco wero in demand at 24s 3d with no sellers. Electrolytic Zinc, preference advanced and were now in demand at 16s with sellers at 16s 6d. There was a bid of 17s 6d for New Zealand paper Mills. Colonial Sugar were 7s 6d higher at £33 7s 6d ami Wilson’s Cement were up 3d at 35s 6d. YESTERDAY’S QUOTATIONS. Buying and selling quotations at yesterday’s final call on the Wellington Stock Exchange were as follow: — Buyers Sellers

YESTERDAY’S SALES

Tho following sales were recorded on tho stock exchanges of the Dominion yesterday : Wellington. —National Bank of New Zealand, £4 ss; New Zealand Breweries (2), £1 13s 4£d. Auckland. —War Bonds, 4£ p.c., 1938, £99 7s 6d; do., 1933, £9B 10s; National Insurance (late Tuesday), 12s lid; N.Z. Insurance, £2 Is 4d; South British Insurance (2), £2 10s 9d; N.Z. Refrigerating, 10s paid, 3e Id; Kaiapoi Woollen, 7s; King Solomon, 2s lOd, 2s lid, 2s lOd; Waihi Grand Junction, 4s.

Christchurch.—Govt. Inscr. Stk., 5£ p.c., 1966 ( 2),'£99 7e 6d; Union Bank of Austr., cum. div., £6 17s; Mahakipawa (5), 6£d; King Solomon, 3s, 3s Id. Sales reported: Union Bank of Austr., cum. div., £6 17s, £6 17s 6d.

Dunedin.—Sales on ’change: Okarito, 9s 9d. Sales reported: N.Z. Refrigerating, 10s paid, 3s 2d; Union Steam, prof., £1 0s 3d; Dalgety and Co., £6 8s; Bank of Now Zealand, £2 9s; Okarito, 10s.

FOREIGN EXCHANGES

LONDON, July 21

Tho following rates on foreign exchanges are current to-day, as compared

LONDON STOCK EXCHANGE. LONDON, July 21. On the Stock Exchange to-day quotations of shares of banks and other corporation debentures compare with previous quotations as follow:

LONDON, July 21. Gold, 84s per fine ounce. Silver. —Cash, 13d per oz.; forward, 12 15-16 d per oz. While giving evidence on the value of trees in tho Supreme Court jesterday at Wellington, a witness said that pines and macrocarpa did well around Wellington, but fruit and other deciduous trees did not do well, as they suffered so much in the spring time, when the young leaves were often blackened and any crop spoiled. They only did well in the most sheltered spots. He also said that walnut trees produced good crops in some parts of the country, and in Canterbury farmers derived quite a considerable income from them. The holding of a calf-rearing competition again for children attending schools in the Levin district is assured this season, the number of entries so far received being Cl. This is surprisingly good, as 'it had been expected that the economic situation might detrimentally affect the prospects, for which reason the committee had made it a condition that not less than 40 entries would be required. As it turns out, the entries are more numerous than for the initial contest, held last year, when 54 were received. Further entries are expected.

Qrs. Cs. Cs. Cs. June, 1 30th, 1931— London 841 253,510 982,226 4,916 S’thampton — 6,213 41,477 Liverpool 1,374 4,379 80,605 250 Glasgow 407 750 11,009 314 Avonmouth 260 4,336 42,780 — Manchester — — ■ 5,000 — Cardiff 1,249 3,004 25,059 494 Vancouver — 250 — Honolulu 35 Other — 500 — countries 1 11 16 — 4,167 274,203 1,188,922 5,974 Boneless beef (bags).--London 152, Glasgow 6006, Honolulu 162. Total, 6320. SUMMARY. (Total October 1, 1930, to Juno 30, London 50,632 1,672,771 5,076,774 1931.) 68,563 Southampton — 48,578 193,322 Liverpool 25,579 93,593 645,548 10,669 Glasgow 8,335 29,777 80,200 15,119 Avonmouth 4,780 42,343 266,767 7,787 Manchester — 924 71,433 — Cardiff 1,795 6,008 68,407 625 Montreal 264 150 523 — Halifax — — 300 — Vancouvo# — 450 256 — San Francisco — — 2 — Honolulu 5,303 10 609 — Other countries 3 35 939 8 96,691 1,894,639 6,405,080 102,771 Boneless beef (bags).— London 2002, Liverpool 2641, Glasgow 79,687, Honolulu 683. Total, 85,013. (Total for same period last year, viz., October 1, 1929, to Juno 30, 1930.) London 67,556 1,363,951 4,234,681 66,674 Southampton — 49,147 196,435 — Hull 656 316 3,281 — Liverpool 11,609 63,304 511,740 5,092 Glasgow 5,451 15,064 23,687 10,038 Avonmouth 5,427 29,764 204,947 5,977 Manchester — 709 10,111 — Cardiff 3,132 4,967 42,788 200 Montreal 5,322 1,545 — — Halifax 5,076 500 \ — Now York 2,411 — — — Vancouver' 3,634 703 1,505 — San Francisco 300 — 4 — Honolulu 978 — 2 — Other countries 260 • y 65 5 588

N.Z. GOVT. LOANS— £ s. d. £ s. d. 44 p.c. Insc. Stk., 1939 and 1938 98 15 0 — 5j p.c. ditto, 1938 99 10 0 — 5j p.c. ditto, 1941 96 0 0 — 5£ p.c. ditto, 1932 99 15 0 — 44 p.c. bonds, 1941 98 15 0 99 5 0 44 p.c. ditto, 1939 98 15 0 — 41 p.c. ditto, 1938 98 15 0 99 7 6 5£ p.c. ditto, 1933 99 12 6 100 2 6 51 p.c. ditto, 1936 99 5 0 — DEBENTURESN.Z. Breweries bonds 1 1 3 • BANKS— Australasia 9 0 0 — Aust. of Commerce ... 0 13 9 0 14 4 Comm, of Aust., ord. 0 14 0 *0 14 4 Eng., Scot, and Aust. National N.Z 4 0 0 4 3 0 — 4 6 6 New South Wales 24 5 0 — New Zealand — 2 9 6 Ditto, long term 1 6 6 — Nat. A’asia. (£10) ... 10 0 0 — Ditto (£5) 4 7 6 4 15 0 Union of Australia 6 15 0 *6 18 3 FINANCIAL— Dalgcty and Co 6 7 0 6 9 0 Abraham und Williams (ord.) — 3 17 6 Goldsbrough Mort 1 0 0 1 0 6 National Mortgage .... — 2 7 ■6 N.Z. Guar. Corp., ord. 0 4 9 0 5 2 N.Z. Invest., Mtg. and Deposit — 0 10 3 N.Z. Loan and Mere., ord 40 0 0 50 0 0 N.Z. and River l’lato — 1 4 0 GASChristchurch *1 5 0 — Ditto, contr *0 11 9 — Wellington ord. 1 6 9 — INSURANCE— National 0 12 11 0 13 1 New Zealand — *2 1 6 South British MEAT PRESERVING— 2 10 0 N.Z. Refrigcrat. (10s) 0 3 0 0 3 3 TRANSPORT— Huddart, Parker, ord. 1 0 0 — Ditto, pref — 0 18 0 P. and 0. stock — 1 10 0 WOOLLEN— Wellington, ord — 0 4 14 0 Ditto, pref 4 10 — COAL— Westport TIMBER— 1 3 0 Loyland-O’Brien Taringamutu Totara ... BREWERIES— 1 1 0 — 0 5 6 New Zealand 1 12 9 1 13 4 Staples and Co 1 12 0 — MISCELLANEOUS— British Tobacco, ord. 1 4 3 1 4 0 Burns, Philp and Co. — 1 11 3 Colonial Sugar 33 7 6 34 2 6 Consol. Brick — 0 9 3 Dental and Medical . 0 4 3 — Dominion Investments 1 1 6 — Electro. Zinfi, pref. . 0 16 0 0 16 6 Howard Smith, ord. — 0 8 0 N.Z. Paper Mills 0 17 6 — Sharland and Co., ord. — 0 18 0 Ditto, pref — 0 19 0 Well. Queen’s Theatre Wilson’s Cement 0 19 0 — 1 15 6 — MINING— Mount Lyell 0 17 9 0 18 2 Waihi Grand Junction 0 3 9 — King Solomon — 0 3 2 *Cum. dividend.

with par : — Julv 21. Par. N. York, dol. to £1 4.85 4.866 Montreal, dol. to £1 4.86 9-16 4.866 Paris, frahcs to £1 123.70 124.21 Brussels, bel. to £1 34.81 35.00 Geneva, francs to £1 24.95 25.225 Amsterdam, florins to £1 12.04 12.107 Milan, lire to £1 92.80 92.46 Berlin, marks to £1 20.75 20.43 Stockholm, knr. to £1 ... 18.145 18.159 Copenhagen, knr. to £1 18.165 18.159 Oslo, knr. to £1 18,165 18.159 Vienna, schgs to £1 34.575 34.585 Prague, knr. to £1 163.75 164.25 Hel’fors, marks to £1 ... 193 193.23 Madrid, pes. to £1 52.80 25.225 Lisbon, esc. to £1 110 4.50 Athens, drach. to £1 375 375 Bucharest, lei to £1 817 813.6 Rio de Janeiro pence to 3 13-32 16.70 B. Aires, p. to peso 34 9-16 47.62 M. Video, p. to peso 26.50 51 Calcutta, p. to rup 17 27-32 18 Shanghai, p. to dol 14 1 — H.-Itong. p. to rol Ha — Y’hama, p. to yen Batavia, florins to £1 ... 24 13-32 24.57 — 12.107

July 8. July 21. i! b. d. £ s. d. Bank of Australasia ..8 6 14 9 1 3 Union Bank of Australia 5 12 6 5 14 44 Bank N.S.W 23 10 0 23 15 0 National of N.Z 4 2 3 3 14 3 N.Z. 4 p.c. guaranteed stock 95 10 0 96 15 0 N.Z. shares 2 10 0 2 7 6 N.Z. Loan and Merc, first mortgage. 4 p.c. debentures ... 63 15 0 64 0 0 N.Z. Loan and Merc. ordinary stock ... 40 0 0 GOLD AND SILVER. 39 0 0