FARMING AND COMMERCIAL

Manawatu Standard, Volume LII, Issue 248, 19 September 1932, Page 5

FARMING AND COMMERCIAL

DAIRY PRODUCE. BUTTER STEADY AT FIRMER

PRICES. CHEESE QUIET AT ADVANCE OF 2s. There lvas a further advar.co of 2s to 3s a cwt in the pricos of Now Zealand butter in London last week, and tho market closed firm on Friday at 112 s up to 116 s a cwt. The Dairy Board’s report indicates a steady domand, the quantity of New Zealand butter in store at the end of tho week being only one-half of that a year ago. New Zealand salted butter is at a premium of 6s to 7s over Australian. The retail prices of New Zealand butter in London is Is 2d, and that of Danish Is 3d a lb. Cheese prices advanced 2s a cwt last week, and the market closed quiet, New Zealand white at 655-663, and coloured at 60s-62s a cwt. The Dairy Board’s London office reports Friday’s quotations as follow, those for tho previous week being shown in parentheses : BUTTER. New Zealand, salted, 112s-115s to 116 s (110s-113s; Sept. 16, 1931, 109s-114s); unsalted, 112s-116s (110s-112s; Sept. 16, 1931, 108-112 s). _ 112s-116s equals approx. llfd f.o.b. First whey, 104 s (102 s) ; second whey, 102 s (100 s). Deliveries, New Zealand, 1342 tons. In store, 2997 tons, including 825 tons ex Rangitiki. Australian, salted, 106s-109s (104s-106s); unsalted, 106s-110s (106s-108s). Deliveries, Australian, 1291 tons; in store, 1095 tons. Argentine, unsalted, 88s-925; ex., 945, steady (88s-925). Danish, 109 s f.0.b.; 1245-126 s spot (105s--106s); 1225-1245). Dutch, unsalted, 120s-122s ( —). Esthonian, salted and unsalted, 98s-100s (90s-925). Latvian, salted, 98s-102s (90s-925); unsalted, 963-100 s ( —). Siberian, 94s (86s-925). Ukrainian, salted. 86s-90s ( —). Lithuanian, salted, 98s-100s; ex. 102 s; unsalted, 925-100 s (90s-98s). Tho board has also received the following advice from its agents in Canada:— Butter, New York, 20£ cent 3; Montreal, 22 cents a lb. CHEESE. Now Zealand, white, 655-66 s (6Jd f.0.b.), (635-645; Sept. 16s, 1931, 595-61 s); coloured, 60s-62s (5Jd f.0.b.), 575-60 s; Sept. 16, 1931, 61s-635). Deliveries, Now Zealand, 16,765 crates. In store, 38-384 crates. South African, coloured, 655-68 s (645). Canadian, white and coloured, 665-68 s (635-655); c.i.f., 67s (645-665). Deliveries, Canadian, 20,342 boxes. In store, 147,503 boxes. English, finest farmers’, 98s-102s (965-100 s). 100 s). OTHER REPORTS. The New Zealand Producers’ Co-opera-tive Marketing Association’s weekly cabled market report from London, dated September 16, is as follows : —Butter: Market quiet. New Zealand, 112 s to 114 s; unsalted, 112 s to 116 s; Danish, 124 s to 1265; Siberian, 945. Cheese: Market slow. New Zealand, white, 655; coloured, 60s to 61s; Canadian, white and coloured, 66s to 68s. Mr T. Gray (Wellington) has received the following report from Mr A. C. Rowson, London :—Cheese: Deliveries, New Zealand and Australian, 17,072 crates; Canadian 20,687 boxes. Stook, Now Zealand and Australian, 38,546 crates; Canadian, 147,865 boxes. Price, 65s white; 61s coloured. The demand is slower, and the market is weak. Butter: Price 113 s first; 115 s finest. The demand is steady, and the market is steady.

FROZEN MEAT MARKET,

LAMB PRICES UNCHANGED.

WETHERS FIRMER; EWES STEADY. The lamb market is quiet, with prices unchanged. Consumption is now falling oil as usual with supplies of gamer and pork available. Large supplies of Homekilled continue. Best Home-killed lambs were selling from 6id to Bd, and lull lambs from sid to at Smithfied to-day. Mutton market: Wethers firmer, with slightly higher prices. Ewes steady, with fair demand. Beef market depressed on account of largo supplies of Argentine chilled beef. New Zealand porker pigs: Firm, but warm weather has affected consumption. Now Zealand baconer pigs f Nominal. The above report was received on Saturday by the Moat Board from its London office, which advises that the following are the approximate average prices realised for the week ended September 16, based on actual transactions of wholesale quantities of the descriptions of meat mentioned and are for representative parcels of the goods offering during the week, being for business done on the basis of delivered to Smithfield Market and/or ex London stores (prices for the two previous weeks are also shown) : New Zealand sheep.—Canterbury and North Island selected crossbred wethers and maiden ewes: 481 bto 561 b, 3 3-4 (3 3-4 d, 3 5-8 d); 571 bto 641 b, 3£d (3 3-Bd, 3id); 651 b to 721 b, 3Jd (34d, 3d). North Island crossbred wethers and maiden ewes: 481 bto 561 b, 3 3-4 d(3 5-Bd, 3£d); 571 bto 641 b, 34d (3*d, 3£d); 651 b to 721 b, 3*d (34, 3d). Ewes: 481 b and under, 2£d (same); 481 b to 641 b, 2£d (same); 651 b to 721 b, 2£d (same). New Zealand lambs.—Canterbury: 361 b and under, sid (5Jd, s^d); 371 bto 421 b, s£d (sid, scj): 431 bto 501 b, 4 5-8 d (samo); second quality, average 331 b, 4 3-4 d (4 3-4 d, 4 5-8 d). Other South Island brands: 361 b and under, s£d (s£d, sd); 371 b to 421 b, 5a (same); 431 b to 501 b, 4id (same). Selected North Island brands: 361 b and under, 5 3-8 d(5 3-Bd, s£d); 371 bto 421 b, s|d (54d, 4d): 431 bto 501 b. 4 5-8 d (same); second quality average 311 b, 4 3-4 d (4 3-4 d, 4 5-8 d). Other North Island brands: First quality, 361 b and under, 4 7-8 d (4 7-Bd, 4 3-4 d): 37 lb to 421 b, 4 3-4 d (same); second quality, average 311 b, 4 5-8 d (4 5-Bd, 4|d). Australian ' lambs. —Victorian: First quality, 361 b and under, 4d (same); 371 b to 421 b, 3 7-8 d (4d, 4d). Argentine lambs.—First quality, 361 b and under, (4fd, 4 3-6 d); 371 bto 421 b, 4d (same). New Zealand beef.—Ox fores, 2id 2^d); hinds, 3 3-8 d(3 3-Bd, 3£d); cow fores and hinds not quoted. Argentine chilled beef. —Ox fores, 23-4 d (same); ox hinds, (6d, 5 5-8 d). Australian frozen beef.—Ox crops, over 1001 b, 23-8 d (same); hinds, over 1601 b, 3 3-8 d (3 3-Bd, 3id). New Zealand prime porker pigs.—601 b to 1001 b. sid (sid, sd); 1011 b to 1201 b. 5d (sd, 4 3-4 d). New Zealand baconer pigs: 1211 b to 1801 b. 5d (same). New Zealand frozen veal not quoted. OTHER REPORTS.

The market is steady but quiet, says a cabled report received by Levin and Co., Ltd., from their London agents. Compared with the previous week’s quotations best North Island wethers, 48/641b, £d per lb. higher; North’ Island ewes, 64/72 lb, id per lb higher; others unchanged Smithfield “delivered” prices on Friday were as follow: —North Island Down lambs, none offered; best North Island crossbred lambs, 28/36, s£d per lb; 36/ 42, sid; North Island second quality lambs, average, 30/31, 4 5-8 d; best North Island wether sheep, under 48, 4d; 48/56, 3 3-4 d; 56/64, 3id; 64/72, 3id; North Island ewes, under 48, 2id; 48/56. 23-8 d; 56/64. 2id; 64/72, 2id. Now Zealand prime ox beef, 160/220, 23d. The Bank of New Zealand's produce department has received tho following advice from its London office as at close of business last week: Smaller supplies of wether mutton have caused prices to harden. There is a fair demand for ewes. Tho advance in prices for lamb is unlikely to ho maintained. Tho demand is not quite so good. Tho market for beof is depressed owing to heavy supplies of Argentine. Trado, generally, j 3 s | ow owing to bad weather. Wethers, light, 3 3-8 d to 4d per lb: heavy, 23-4 d to 3Jd : ewes, 2d to 25-8 d; lambs, 2’s, 4 7-8 d to 5 3-6 d;, B’s 4 7-8 dto s£d; 4’s 4 3-4 d to 4jd: seconds, 4 3-8 dto 4 7-Bd. Beef : Ox hinds, 3d to 3jd; fores, 1 3-4 dto 2d; cow hinds, 2£d to 2id; fores, ljd to l£d.

The City of Westminster, in the County of London, contains four square miles of land, valued at about £3,000,000,000. This works out at £23,000 a head of Westminster’s entire population. 1

WELLINGTON STOCK EXCHANGE,

LAST WEEK’S BUSINESS AND

PRICES. There was again a hoavy volume of trading in tho stock and share markets of tho Dominon last week, but it was not as heavy as in tho two previous weeks. With one or two exceptions, values of leading shares were easier, but prices, novertholoss, were still substantially better than they woro a fow weeks ago. There was a somewhat bettor inquiry for Government securities, and a fair number of sales woro registered. Tho 4i nor cents, sold at £94 12s 6d up to £95 2s 6d. The 51 per cent, stook, 1933, was dono at £9B ss, tho 5J per cont., 1936, at £99, and tho 5i per cent., 1951, at £99. Tho 5j per cents., February and September, 1937, sold steadily at £99 and £99 ss. Thero was a reduced turnover in banks, especially New Zealands and Commercial of Australia. The former eased on sales from 48s 6d to 47s lOd and 48s. Tho long-term mortgago shares had one salo at 29s 6d. Commercials dropped back from 15s Id to 14s Bd, but firm rates ruled for tho preferences, which sold at £7 3s. Australasias were placed at £9 9s 6d and £9 10s. New South Wales eased from £27 15s to £27 ss. Union of Australia fluctuated on sales at £7 14s to £7 9s and up to £7 12s 3d. E.S. and A. Bank firmed steadily from £4 12s to £4 14s. Moro interest was shown in National of Ne>w4sealand, which sold from 79s 6d up to 80s 6d. Goldsbrough, Morts woro less active and eased on sales from 25s 6d down to 245, recovering later to 24s 9d. Dalgoty's were firm at £8 ss. Now Zealand Insurance sold at 43s 9d to 43s lid, easing later to 43s 6d. South British wero fairly active at 58s up to 58s 6d. Queensland Insurance had a salo at 43s 9d. Gear Meats woro firm sellers at 355, but New Zealand Refrigerating wero weaker, tho 10s paid casing from 3s lid to 3s 9d. The £1 paid had sales at 10s 6d and 11s. Not a great deal of business was done in New Zealand Breweries, which eased from 28s 6d down to 27s lid. British Tobacco sold at 303 6d down to 29s 6d and 30s, cum dividend. Marked firmness was shown by Colonial Sugars, which sold from £45 to £46. Wilson’s Cement woro active sellers at 33s 9d down to 335, as against 34s in the previous week. The drop in metals prices caused weakness in Electrolytic Zincs and Mount Lyells. The former sold at 25s 5d to 25s cum. dividend, for tho preference, and 16s lid to 16s for tho ordinaries. Mount Lyells dropped back from 21s 2d to 19s 7d, but recovered later to 20s 3d. SATURDAY’S QUOTATIONS. Buying and selling quotations at Saturday morning’s call on the Wellington Stock Exchange were as follow: — Buyers. Sellers. N.Z. GOVT. LOANS— £ s. d. £ a. d.

Blackwater 0 17 9 Consol. Goldsfields .... 0 7 9 King Solomon !.... 0 110 0 111 Waihi *0 16 3 017 0 Big River, Is paid ... 0 10 *Cum. dividend. +Ex dividend. SATURDAY’S SALES. The following sales were recorded on the stock exchanges of the Dominion on Saturday : Wellington. —Sale of ’Change: Bank of N.Z., £2 Bs. Sales reported: Inscr. stock, 4i p.c.. 1938, *£9sl ditto, 5£ p.c., Sept., 1937, £99 ss. *Late sale Friday. Auckland. —National Bank of N.Z., £4 0s 6d; Colonial Sugar, £46. Christchurch. —Sales on ’Change: E.S. and A. Bank, £4 14s; Westport Coal, 12s; British Tobacco, cum. div., (3) £1 10s; Dunlop Rubber, cum. div., (3) 14s 9d; Wilson’s Cement £1 13s; Blackwater Mines, 18s 7d, 18s 6d; Golden Point., (4) 7jd. Dunedin. —Gear Meat, £1 15s, Inscr. Stock, 5£ p.c., Sept., 1937, £99 ss.

RAW MATERIALS.

LONDON, Sept. 17. Friday’s closing prices for the following raw materials were as follow, those for September 9 being given in parentheses:—Cotton : Liverpool quotation, American middling, spot, 5.88 d per lb (6.38 d); October delivery, 5.53 d per lb (6.07 d). Rubber: Para, 54d per lb (same) ; plantation smoked ribbed sheet, 221-32 d per lb (2Jd). Jute :■ Scptembor-October shipment. £l7 15s per ton (£lB 13s 9d). Copra: September-Octo-ber shipment, South Sea, £l4 2s 6d per ton (£l4 ss); plantation Rabaul, £l4 5s per ton (£l4 7s 6d). Linseed oil: £lB per ton (£lB ss). Turpentine: 64s 3d per cwt. (64s 9d). Osmiridium: Prices unchanged.

SHIPMENT OF EGGS FROM AUSTRALIA.

LONDON, Sept. 17. Two recent shipments of eggs from Victoria, New South Wiles, and South Australia have been, sold at prices about 3s higher than prevailed at the beginning of the month, and actually about threepence above Belgians. Importers -are highly satisfied with the quality, condition and package. The only complaint ie regarding weights. These wero obviously oorrect at the time of shipment, but owing to evaporation during the voyago some cases of 17 pounders when reweighod touched only 16i lb. Importers, therefore, suggest that a little extra weight should be given so that the cases contain full weight when sold here. The prospects for the season are regarded as favourable, provided high quality is maintained, though Australians will nieet the competition of large supplies of South African eggs, the first of which are arriving next week.

5£ p.c. Bonds, Feb, 1937 — 99 10 0 4£ p.e. Stock, 1938 ... 94 12 6 95 5 0 5£ p.c. ditto, 1933 98 5 0 — 5£ p.c. ditto, Feb, 1937 — 99 10 0 5j p.c. ditto, Sep, 1937 — 99 5 0 DEBENTURES— Well. Harbour Bd., 54 p.c., 1940 99 10 Hauraki, 53 p.c., 1959 — 0 — 96 10 0 Well. City, 54 p.c., 1937 — 100 0 0 Golden Bay, 1 ‘A” — 0 15 9 BANKS— Australasia *9 8 0 — Cora, of Aust., ord. 0 14 6 0 15 0 Nat. of Australasia, £10 paid — 11 11 0 Ditto, £5 paid 5 10 0 — New South Wales — 27 10 (. New Zealand 2 8 0 2 8 3 Ditto, long terra 1 9 6 — Union of Australia ... 7 11 6 7 15 0 FINANCIAL— Abraham and Williams, prof — 3 5 0 Goldsbrough, Morfc ... 1 4 8 1 5 3 N.Z. Guarantee, ord. — 0 6 2 N.Z. Invest., Mort. and Deposit 0 7 9 — N.Z. Loan and Merc. Agency — Well. Trust, Loan ... 4 16 56 0 0 0 — Wright, Stephenson, pref — 0 17 6 GAS— Auckland, cont 0 15 0 — Wellington, ord — 1 11 3 Ditto, pref 0 17 0 — INSURANCE— A.P.A 0 4 6 — National of N.Z 0 14 3 0 14 9 New Zealand 2 3 0 2 3 9 MEAT PRESERVING— Gear 1 14 0 — N.Z. llefrigerat., £1 0 10 3 — Ditto, 10s 0 3 9 — Well. Meat Ex., pref. 0 15 0 — Ditto, ord 0 4 0 0 12 0 TRANSPORT— Huddart, Parker, ord — fl 10 0 Union Steam, pref. ... 1 0 5 — WOOLLEN— Mosgiel 6 15 0 — Wellington, ord 5 1 Ditto, pref 5 2 0 — 0 — COAL— Pukemiro — *1 8 6 Westport : 0 11 9 — Westport-Stockton, ord 0 0 5 — TIMBER— Bartholomew 0 7 9 — BREWERIES— Carlton * — 1 12 6 N.Z. Breweries 1 7 10 1 8 7 Staples and Co 1 5 9 — Tooth — 1 9 0 Toohey’s 0 18 3 0 19 4 MISCELLANEOUS— Colonial Sugar 46 7 6 46 10 0 Dunlop Perdriau *0 14 0 — Electro. Zinc, pref. ... *1 5 3 — National Electric — 0 10 0 N.Z. Drug 2 18 Wilson’s Content 1 13 6 *3 0 6 0 1 14 0 British Tobacco, ord. *1 10 OIL— 3 0 Moturoa — 0 6 Taranaki 0 2 3 — MINING—