FARMING AND COMMERCIAL

Manawatu Standard, Volume LII, Issue 70, 22 February 1932, Page 5

FARMING AND COMMERCIAL

DAIRYING INDUSTRY, DRY SPELL BROKEN. As a result of the prolonged drought that has been experienced for some months past; the dairying industry has been most seriously affected. With paddocks bare of grass, and green crops poor, if not altogether failures, tho feeding of stock ha 3 been particularly difficult and, as stated previously, many dairy farmers have mado inroads on thior winter reserves and tho feeding out of hay and enlsiage, has been quite common. During the past two months many herds of cows have been grazed on the roadside, while some farmers have had to dispose of portion of their herds owing to their inability to accommodate them on the greatly reduced supply of grass available. The milk supply has been falling off rapidly and in cases some cows wore almost dry. Another problem which has confronted farmers lately has been ih regard to water for their stock. A largo number of wells which in former years have supplied adequate quantities of water were taXod to their utmost capacity this year as a result of the drought, and when Bomo of them Ceased to function farmers had to resort to carting of water from factories, rivers and streams to provide for the requirements of stock. The timely rain experienced over tho week-end will offset the gravo situation which threatened a large percentage of farmers with nothing short of disaster. Pastures will now be released from the grip of stagnation and inactivity and growth should be prolific, thus providing fanners with the autumn, feed so much relied upon. It is not to bo expected that cows will return to their usual producing capacity, but the advent of rain at the present) time will have the effect of stemming the sharp downward trend, which has been causing great anxiety among the dairy farmßrs of this district. Given favourable autumn weather conditions it is anticipated that stock will make up the condition lost through insufficient food and will face the Printer in • condition better able to ro-

aist the intense cold and wet of our *~ormal winter.

Whakarongo Dairy Co. —Thirty-five boxes of butter are handled daily by the Whakarongo Dairy Company. Grading is good and the payout for January was 9Jd Dairy Farmers’' Union. —The Dairy Farmers’ Union is manufacturing 100 boxes of butter daily and quality reports are high. The payout for January supplies was 9d. LONDON MARKETS. BOARD’S REPORT. The London butter market) closed quieter on Friday, after an active demand during the week. Now Zealand salted was quoted at) 110s-112s, an advance of 8s to Ste a owt. on the week. The Dairy Board’s London offioe reports that the Continental demand for New Zealand butter was quieter at the higher prices on Friday, but was expected to come on again this week. The wholesale prices of Danish spot butter on Friday was 1545-156 s a owt. The retail price of Danish has been increased to Is 5d a lb, and is expected to advance to Is 6d to-day. The retail price of New Zealand butter will be increased to-day to Is 2d a lb in tho South of England, but will remain at Is Id in the north.

Tho cheese market was quieter at tho later part of the week, Now Zealand bein gquoted at 635-655, an advance of Is to 2s. The retail price of N.Z. cheese is unchanged at 8d ppr lb. Tho Dairy Board’s London office, wheih reports that the Thames lightermen’s strike has been settled, reports the following prices as ruling on Friday, thoso for the previous week being shown in parentheses: BUTTER.

New Zealand, salted. 110s-112s, ex 113 s (101s-104s; Feb. 20, 1931, 121s-1245); unsalted, U6s-118s (100s-112s; Feb. 20, 1931, 1265-130 s); 110s-112s equals approximately

Hi f.o.b. First whey, 104 s (98s); second whey, 102 s (945). Australian, salted, 105s-103s (995-102 s); unsalted, 110a-112s, ex 114 s (104s-105e). Argentine, unsalted, 104s-110s (965-102 s). Danish, 1535, f.0.b.; 1545-156 s spot (1455; 140 s). Dutch, unsalted, 126 s ( —•). CHEESE.

New Zealand, white, 635-64 s (61s-635; Feb. 20, 1931, 565-58 s); coloured, 635-65 s 65s (625-645; Feb. 20, 1931, 58s-595). 635-65 s equals approximately 6id f.o.b. Australiah, white and coloured, 625-63 s (60s-61s; 60s-625). Canadian, white and coloured, 68s-70s, to 72s (68s-70s).

Dalgety and Coy., Ltd., have received tho following cablegram from thoir London houso dated tho 18th inst:—Butter: Market quiet following on active demand mainly from tho Continent. Danish, 152 s to 154 s (138 s to 140 s); New Zealand finest salted 110 s to 1123 (101 s to 104 s); Australian finest unsalted, 110 s to 112 s (108 s to 110 s) ; Australian finest salted, 106 s to 108 s (99s to 101 s); Australian G.A.Q., 100 s to 104 s (94s to 98s). Cheese: Market quiot at the advanco. Australian white, 60s to 62s (60s to 61s); coloured, 61s to 63s (61s to 625); Now Zealand whito, 63s to 64s (61s to 625); New Zealand colourod, 64s to 65s (62s to 635); Spot price lor Canadian white, 66s to 70s (64s to 70s); coloured, 66s to 70s (64s to 70s). Lost week’s quotations aro shown in paronthescs.

A preliminary report has been received through the Department of Overseas Trado on the results of the pig census taken in Denmark on tho July 15, 1931. According to this report, tho total number of all classes of pigs in Denmark is estimated at 5,473,000, an increase of 292,000,' or six per cent., compared with the previous January, and of 601,000 or 12 per cent, compared with the 4,872,000 returned on the corresponding date of 1930.- Hie latest total, which is more than double that recorded in 1925, shows that pig-raising in Denmark has continued tho upward trend that lias been in evidence every year since 1925. except for a, small set-back in 1928. So far as the present total is concerned, all classes of animals show an increase compared with a year earlier.

WANGANUI WOOL SALE. | BROKERS’ REPORTS. The following reports by brokers have been issued in connection with the Wanganui wool sale, held on Friday:— N.Z. LOAN AND MERCANTILE. Tho Now Zealand Loan and Mercantile Agency Company, Limited, offered 3154 bales. Good quality bright wools, free from seed, met good competition, but medium and inferior sorts were not wanted, and to .effect salos of these very low prices had to be accepted. Comparing prices with those ruling at earlier sales in the Dominion, good wools were slightly in buyers’ favour, while medium ruied from a larthing to a half-penny easier, and inferior and seedy lots wore from a halfpenny to three farthings down. For bellies and pieces, the best of these were abput on a par with late rates, but heavy and seedy lots were decidedly easier. For lambs’ wool for tho good to 6uper lots prices were very film, but inferior and seedy were hard to quit, and slightly lower prices had to be accepted. Bidding was inclined to be irregular, and the bulk of the fleece wool was socured by Bradford and Gorman representatives. For bellies and pieces, the French seotion were the principal operators, while Bradford, French and Australian r*> presentatives secured the bulk of tho lambs wool. Our best price for fleece wool was 9d, this being realised for four bales Cornedale AA, branded St. Andrews. Four bales hogget AA of tho same brand mado Bjd, ana eight bales Corriedalq A brought 81U. Four bales of the same brand realised 84d. Eighteen bales hogget AA branded U/Aranui made 7Jd. Fourteen bales of lambs A of the well-known brand Morikau/OA realised 74d, and five halos necks of the same brand mado 6d. Principal realisations were: G, HA, 5Jd; EA, 43d; Mt. Zion, lambs AA, 73d; LY J Puriri, EA sd, lambs A 73d; OH, H 7d, A 53d; JWH, Dn. 7d, A sid; HBROS, A 64d; C/Aranui HAA, 73d, HA 6id; WAA sd, EAA 6id, A lambs 63d; R9/SBROOK, HA, 4id; GTP, E, 3id; JL/Taroa, E, 4id; , McK, E, 4d; GLH, crossbred, 3|a; Beverley, H, sjd; Waipuna, halfbred A, 6Jd; HB/H, E, sd; Edenmore, EA, 43d; Morikau/OA, HA 5Jd, A 63d, 'A 43d, EA 4*d, A lambs 7id; St. Andrews, Corr. HAA BJd, Corr. AA 9d; dS/P, H, 4d; Taumata/Maire, Ist fine crossbred, sid; WB/Paripapa, HAA 6jd, HA sid; Pindi, E 4d; WHS, H, 44d; TR/J, H, 4d; AD, crossbred, 4Jd; KW/W, E, 31d; Hiria, A lambs, 64d; Te Raupo, E, 4d; V/88/M, AA, 53d; VLP, H. 3id; Ohio, W, 33d; Tanui, E, 4|d; DBROS/T, E. 4d; DSG/T, H, 4d; Ohoc/FC, H, 4d; ECS, halfbred A, 63d; HR/Cardross, H 4id, A sd; B, AA, sd; RWS, H, 4|d; HW, crossbred, 4id; JDC. W 33d, E 33d; WW, E, 4d; MK, E, 33d; RO, HA 43d, EA si; X7/B, H, 74d; RTB/Moawhango, A bid, A lambs 74d; GWB/Moawhango, A lambs 7id, EA 54d; Moawhango, EA, sid; Tanupara, HA 6id, WA 54d, EA 44d; LEA, lambs A, 7d; Te Roto, lambs, 53d; HGH, EA, 33d. LEVIN AND CO. LTD. Levin and Co. Ltd., report that the offering contained some good parcels of wool, but tho bulk was scarcely average grade, there being a largo number of backcountry clips, many of which wero off colour and seedy. The presence of so much inferior wool at one time had a most depressing effect upon the sale, and this was evident in the bidding, which lacked vim on any wools inclined to bo seedy or shabby, although when good lines wore being offered the market was keen and brisk. Bright fleece wools of good style and fine quality attractively got up sold well up to what they wore receiving at the January sale and to prices that have been ruling at other centres. Mrs Harper s well-classed and skirted clip from Tauangatutu realised as high as 8d for her top lines of big sheep and hoggets, and 6d for her main lino. Lambs’ wool, bright, with second taken out, also sold comparatively well, some Romnoys fotching as high as 73d boing slightly in sellers’ favour compared with our last sale. Average wools other than finest qualities declinod i to id, whilst all inferior wools, soody and/or otherwise shabby, wore id to 3d down. Those wero tho wools which accounted for practically all of thoir passings which were particularly heavy. Bellies and pieces, good, were par to Id down, average id down; crutchings, good, id to 3d; down; inferior, id to lid down; 6eedy lots dragging considerably. ABRAHAM AND WILLIAMS AND WRIGHT, STEPHENSON.

Abraham and Williams, Ltd., in coni'unction with Wright Stephenson and Co., Ltd., report: —A total of 20,000 bales for all brokers was offered, of which we contributed 5176 bales. The usual full representative bench of buyers was in attendance, and although the bidding was brisk and animated, it was at times irregular, and tho prices, unfortunately, are still at a very low level, which must be well under cost of production and disappointing to all wool growers. The Continent, as usual, took most of tho fine wools, but the mainstay of the market for tho ordinary medium and coarse wools was Bradford. France was very strong on most lota of lambs wool which was decidedly firmer. The outstanding prices in our catalogue were: 8 3-4 for a nice parcel of Romney lambs branded “OKIRAE’’ on account Mr Jas. Campion, and Bid for a lino of super crossbred on account of the same grower; 6-bales H. branded A&A/Tututawa, reclassed in our store, sold on account Mr Arkwright realised Bd, also 14 bales Down cros3 lambs branded “KUKUTA” account Mr A. Macnab at Bd. Some of our best prices are: —Hoggets: Badeno, 5 3-4 d; A&A/Tututawa, 8d; Pioi Estate, 5 3-4dl; AWT, sid; Merchiston, 5Jd; Okirae, Bid, 7d; Te Paenga, 5 3-4 d; A&A/Tututawa, 5 3-4 d, Cluny, 74d; Pitu, 7d; CC/TEHUE 7d, sid. Lambs: A&A/Tututawa, 6Jd; Houhere, 6id; Merchiston, Down cross lambs Bid; Merchiston, 7id; Okirae, ■8 3-4 d and 7d; DS-F, 7id; Kukuta Down cross lambs 8d; Te Ptenga, 6£d; Aberfeldy, sd; Kukuta, 7id; Merchißton, 6 3-4 d; Glendalla, 6 3-4 d; KHC, 6 3-4 d; CC-TEHUE, 6id, TOLME-AREA 6 3-4 d, PETRIE-ARIA 6 3-4 d, WGM-B, 6 3-4 d; lICS, 6 3-4 d. Crossbred: Badeno, sid; Rong’omai, 7d: Takiri. sd; H SG, 4id; OKO, 3id; .CC-TEHUE, 6id; 7F, sd; A&A/Tututawa, sd; R J M, 4id; Colmworth, 4id; T W M, 41d; PMcG, 4jd; XXXX, 4d; Ncaumu, 4d; Mara, 4id; ECT 41d; Merchiston, 7d, 5 3-4 d; Makuku, 3'3-4d; Okirae, 6 3-4 d; GBG, 4 3-4 d; Huia-O, 4id; AM-88, 41d; Te Paenga, 4id; Oamarunui (reolassed in store) 7id; Momona, 4 3-4 d; Oamarunui, sd; H LY, 4id; Whitecliffs, 4id; Torata-W, 4 3-4 d; Taruna 4id; Glenmore-O, sid; AM-O, sd; Clunv, 6Jd, sid; PITO 4 3-4 d; CCTehue sjd.

WELLINGTON STOCK EXCHANGE. LAST WEEK’S BUSINESS AND PRICES. A fairly good turnover was recorded on Dominion stock exchanges last week, though trading in Government securities was rather less than in the previous week. The 5i per cont. stocks and bonds, 1937, again commanded the most attention, tho former selling at £99 10s to £99 15s, and tho bonds at £99 10s, £99 12s 6d, and £99 15s. Tho 5i per cont. 1933 stocks sold at £9B 10s and £9B 15s and tho bonds at £9B 15s and £99. The 54 per cent, bonds, 1936, changed hands at £99 10s. The 54 per cont. stocks, 1937, sold at £95 10s, and the 5i per cents., 1933, stocks and bonds, at £9B 2s 6d. Thero was a moderate turnover in the tax-free 4i per cents., tho 1938 maturity changing hands at £94 15s, £94 17s 6d, and £95, and the 1939 maturity at £94 15s and £94 17s 6d. A restricted business was done in debentures. Auckland Harbour Board 54 per cents. 1943, changed hands at £97 10s; Auckland Powor Board, 53 per cents., 1945, at £97 10s, and Newmarket Borough, 53 per cents., 1944, at £99 10s. Auckland Gas debentures, 54 per cent., 1935, sold at* .£lOl 10s, and New Zealand Farmers’ Co-op., 64 per cent, debentures at £4l. . Several local bodies are finding it difficult to float redemption loans at 5 per cent, and 5i per cont. Thus the Dunedin City has two loans of £360,000 maturing, and as tho interest is 5 per cent., holders aro not renewing, and this is not surprising in view of tho fact that Government 5j por cent, issues can bo bought in the open market at below par. Bank of Now Zealand sold freely at 44s 9d, and show no chango on tho previous week. A fair business was done in Commercial Bank ordinary at 14s 3d to 14s 54d, and wero slightly Armor than in tho past week. National Bank of New Zealand, with sales at £3 11s, wero firmer than in tho previous week, but 22s lower than a year ago. Bank of New South Wales sold at £26 15s, or 15s better than a week previously. Union Bank wore easier, with sales at £7 6s, £7 ss, £7 4s, and £7 5s 6d. Thoro was a small turnover in insurance shares. Standard Insurance sold at 42s 7d ahd 42s 9d, cum. dividend; South British Insuranco at 51s 9d, tho same as in the previous week; and New Zealand Insuranco at 37s 9d. Goldsbrough, Mort and Co., wero transferred at 23s 2d, and wero firmer than in the provious week. N.Z. Guarantee Corporation, ordinary, changed hands at 4s bd, 4s 9d and 4s 7d. Auckland Gas shares sold at 225, and Christchurch Gas at 24s lOd. New Zealand Refrigerating were firm, with sales of tho 20s paid up at 10s 2d and 10s 3d, and tho 10s paid up at 3s lOd. Union Steam prcfercnco shares were very steady at 20s. Browery shares wero again very slow. Now Zealand Breweries sold at 25s bd, and were a shado better than in tho provious week. A week ago they wero selling readily at 33s to 33s 9d. No business was done last week in Staples and Co., tho best bid for tho shares sinoo the dividend reduction being 225, and a sale at 235. Tooth and Co. (Sydney) keep very firm, with sales last week at 23s 3d and 23s 4d. Colonial Sugar continued their upward trend, sales last week being at £39 to £39 15s, as against £3B 10s and £3B 16s in the preceding week. SATURDAY’S QUOTATIONS.

CROSS-BREEDING OF SHEEP. EXPERIMENT AT MASSEY COLLEGE. MASTERTON, Feb. .18. At the request of the Lincoln Cheep Breeders’ Association, the Massey Agricultural College recently carried out- an experiment to make a comparison between the progeny, of Romney ewes crossed with Lincoln rams and the progeny' of Romney ewes crossed with Romney rams. One hundred and two Romney ewes of mixed ages from 4-tooth up to fresh full-mouth were selected from the main college flook. Of these fiftyone ewes were mated with the Lincoln rams provided by the Lincoln Breeders’ Association, and the remaining fifty-one were mated with Romney rams provided by the college, and bred by Mr Q. Donald, of Featherston. . . ' The season for this experiment has been exceptionally bad owing to most severe climatio conditions, combined with a lack of feed, which the Manawatu passed through during the winter and the spring. Taking this into account, the lambs have done exceptionally well. It appears that the Lincoln lamb cannot stand the severe weather as well as the Romney lamb, but the Lincoln lambs,' which to date are quite as forward as the Romney lambs, appear to have the power of picking up after a severe check in their early days. The lambing percentage or the Lincoln flock was poor, but this can be accounted for to a greater extent by the strange coincidence that the losses among the Lincoln cross ewes were much higher than the losses among the Romney cross ewes. Out of fifty-one ewes to Lincoln rams only forty-five lambed, while out of the same number _of ewes to Romney rams forty-nine-lambed. Also the losses before the docking were considerably higher among the Lincoln cross lambs than among the Romney cross lambs.

FROZEN MEAT. LONDON, Feb. 20. Australian sheep.—First quality crossbreds and/or Merino wethers, 40/65, 3Jd; second quality, 30/55, 3£d. Argentine sheep: First quality crossbred wethers, 48/64. 4jd; 65/72, 3 3-4 d. Australian Lambs.—Victorian, first quality, 36 and'under, s£d; all States, third quality, s£d. The New Zealand Meat Producers’ Board has received tho following cable from its London office, dated 19th February, advising that the following are the approximate average prices realised for the week, based on actual transactions of wholesale quantities of the descriptions of meat mentioned and are for representative parcels of tho goods offering during the week, being for business done on the basis of delivered to Smithfield market and/or ox London stores, prices for the two previous weeks being given in parentheses: Now Zealand sl»eep, Canterbury and North Island selected, crossbred wethers and maiden ewes, 48/56 (4 5-Bd, 4id); 57/64, 4±d (4£d, 4£d); 65/72, 4id (4R 4d); North Island do., 48/56, 4 5-8 d (4 5-Bd, 4£); 57/64, 4id (44d, 4£d); 65/72, 4£d (4£d, 4d): ewes. 48/under, 3£d (3 3-Bd, 3*d); 48/64, 3d (3d, 23-4 d); 65/72, 23-4 d (23-4 d, 25-8 d). New Zealand lambs, Canterbury, 36/under, 6 3-4 d (6 3-4 d s£d); 37/42, 7d (7d, 54d); 43/50, 6'7-8d (not quoted); second quality, average, 33d (6£d (6id, —): other South Island brands, not quoted. Selected North Island brands, including Downs, 36/under, 6 5-8 d (6 3-4 d, 6 3-4 d); 37/42. 6 3-4 d (7d,

not quoted); 43/50, not quoted; second quality, average 31, 6£d (6id, 6£d); other North Island brands, first quality, 36/ under, 6£d (6£d, 61d); 37/42, 6 5-8 d (6 3-4 d, not quoted); second quality, average, 31, xl (6d, 6d). Australian lambs, Victorian, first quality, 36/uhder, s£d (5 3-Bd, 5 3-8 d); 37/42, 4 7-8 d (4 7-Bd, 4 7-8 d); Argentine lambs first quality, 36/under, s£d (s£d, sid); 37/42, 5d (sd, sd). New Zealand beef, ox fores, 2d (1 7-Bd, 1 7-8 d); hinds, 3d (3d, 3d); cow fores and hinds, not quoted. Argentine chilled beef, ox fores, 3 3-8 d (3id, 3£d); ox hinds, 4 3-4 d (4 5-Bd, 4 3-4 d). Australian frozen beef, ox crops over 100, 23-8 d (2 3-Bd, 23-8 d); ox hinds, over 160, 3£d (3|d, 3id). New Zeaalnd prime porker pigs, 60/100, 5d (sd, sd); 101/120, 4jd (4jd, 4jd). New Zealand prime baconer pigs, 121/180, 4 3-4 d (4 3-4 d, 4 3-4 d). New Zealqnd frozen veal, not quoted. Lamb market: Shade easier. Supplies now more plentiful due to termination of barge strike. Mutton market: Steady with prices unchanged. Beef mar-

ket : Meeting with a little more enquiry. New Zealand porker Pigs: Remain unchanged. New Zealand baconcr pigs: Nominal.

Buying and selling quotations at Saturday morning's call on the Wellington Stock Exchnsre were as follow:— Buyers. Sellers. N.Z. GOVT. LOANS— £ s. d. £ e. d. 44 p.c. bonds, 1941, 1939, 1938 — 95 0 0 54 p.c. ditto, 1937 — 99 12 6 54 p.c. ditto and Ins. Stk., 1936 — 99 10 0 54 p.c. Ins. Stk., 1937 — 99 10 0 4£ p.c. ditto, 1939 — 95 0 0 44 p.c. ditto, 1938 — 94 15 0 -Rural Advnces, 5 p.c.. 1947 85 15 0 — DEBENTURES— Well. Gas Co 101 10 0 — Well. Racing Club ... — 00 0 0 Hauraki Plains, 5| p.c., 1959 — 98 0 0 Thamee City, 53 p.o., 1959 — 96 0 0 Makerua Dm. Bd., 6 p.c., 1946 and 1950 ... — 96 10 0 BANKS— Australasia 8 15 0 — Commercial Aust., ord 0 14 0 0 14 3 Eng., Scot, and Aust. 4 4 0 — New South Wales ... *25 0 0 — New Zealand 2 4 6 — Union of Australia ... — 7 6 0 FINANCIAL— Goldsbrough, Mort ... — 1 3 3 Abraham and Williams, ord — 3 10 0 Ditto, pref — 3 12 6 N.Z. Guar. Corp., ord. 0 4 6 0 4 9 N.Z Invest. Mtg & Deposit — 0 9 9 N.Z. Loan and Merc., ord — 45 0 0 INSURANCE— National — 0 13 1 TRANSPORT— Union Steam, prof. ... 0 19 9 — WOOLLEN— Kaiapoi, • ord 0 6 6 — Wellington, ord 4 2 0 — Ditto, pref 4 2 6 — COAL— Taupiri, ord — 0 18 6 Westport — TIMBER— 1 3 9 ICauri — 0 10 4 National — 0 6 0 Taringamutu — 0.5 0 Bartholomew — 0 12 9 BREWERIES— New Zealand 1 5 3 — Staples and Co 1 2 0 — Tooth and Co 1 3 3 1 3 0 MISCELLANEOUS— British Tobacco, ord. 1 6 0 — Colonial Sugar 38 15 0 — D.I.C., ord (10s) — 0 12 6 Electro. Zinc, pref. ... 1 0 11 — National Electric — 0 10 0 Woolworths, pref 1 4 10 — MINING— Mount Lyell 0 19 H — Waihi — 0 17 6 Golden Dawn 0 7 0 — Okarito — *0 9 9 Alexander — 0 14 0 Blackwater 0 6 0 — Consol. Goldfields 0 2 0 — *Cum. dividend.