FARMING AND COMMERCIAL

Manawatu Standard, Volume LII, Issue 256, 28 September 1932, Page 5

FARMING AND COMMERCIAL

CLEARING SALE AT TIAKITAHUNA. Associated Live Stock Auctioneers, Ltd., report having held a very successful clearing sale on account of Mr E. R. Vauticr, Tiakitahuna, on Monday, the 26th inst. There was a largo attendance of buyers from surrounding districts. The cows came forward in fair order and the whole herd of 75, with the exception of four, were in profit. Tho enquiry was very keen and competition for good cows was well maintained right through tho sale. Tho average for the herd, including late calvers and three-quarter cows was £8 2s. Yearling Jersey heifers and pigs also mot with good competition; horses and implements which were subject to a reserve, realised good" bidding. Evidently the vendor was not anxious to sell as most lots in this section were passed. Quotations: —-Best cows, £B, £8 10s, £9, £9 10s, £9 15s, £lO, £lO 15s, £ll, £ll 10s, £l2, £l2 10s, £l3, £l3 10s to £l4; others, £5, £5 10s, £6, £6 10s, £7, £7 5s to £7 15s; three-quarter cows, £5, £5 10s to £6; springing cows, £5, £8 to £9 10s; 5-yr. Jersey bull, £7 15s; 2-yr. Jersey bull, £5; yearling Jersey heifers, a lino of 24 at £3 2s; 2 sows with litters of 10 and 12, £7; sows to farrow, £2 10s; porkers, 365; store pigs, 16s; ewes, 8s 3d; fat hoggets, 14s 3d.

STOCK FIGURES. NEW ZEALAND AND GREAT BRITAIN The 1931 stock figures of Great Britain and Northern Ireland and tho Dominion make interesting reading. They are as follows: —

breeding ewes to total sheep is a reflection of the extent to which breeding for lambs is practised in New Zealand, and, conversely, tho importance of mutton-raising in the Old Country. It is natural that in a large population such as Great Britain dairy cattle for milk supply should represent a majority of tho cattle. EMPIRE CHILLED BEEF. ' SOUTH AFRICA SCORES. Smithfield Market had a surprise yesday, said tho London Daily Mail of August. 4. Some excellent chilled beef was staged, and it was not from Argentina. It was Empire produce, and some hindquarters realised 2d a stone of 81b more than 'the heavy Argentine hindquarters. This prime beef came from South Africa, forming the first commercial shipment, following two small quantities sent experimentally. “There is a good deal to bo learnt at the South Africa end of the business, but this shipment it miles ahead of the initial consignments from the Argentine,” a salesman stated, “and the prospects, regarded from the Cape farmers’ and the Empire points of view, are of vital importance. “This beef was on the hoof on July 11, and was being sold on English markets on August 3. It is good, clean, bright meat.”

FARMING NEWS.

RURAL RAK3NGS. A Hawke’s Bay fiatland farmer stated that while, in previous seasons, it was unusual for him to have a single set of triplet lambs on his property, this season ho has counted seven sets of triplets amongst his new season’s lambs. A ewo on an Okoia farmer’s property has reared fifteen lambs in nine years. Sho is nine years old herself and commenced to breed when sho was a year old. Sho had twins on several occasions, but missed one breeding season. She was one of triplets herself. Cruciferous crops such as rape and cliou moellier are not likely to be quite as popular in Hawke’s Bay this season as was tho case last season, when rape crops in particular suffered very badly indeed from tho attacks of the cabbage butterfly (states the Napier Telegraph). Chou moellier made a recovery later and most crops proved most useful during the past winter to those farmers who possessed them. Many districts of Southland would welcome a good fall of rain to freshen up pastures and replenish the water supply for domestic purposes (says an exchange). Even in Invercargill, which gets all the coastal moisture which sweeps up through Foveaux Strait, the soil is becoming dry as was l evidenced by tho fact that the water cart was brought into requisition during last week to assist a belt of young macrocarpas. In the past two years £174,697 has been spent throughout New Zealand on native land development, stated Bishop Bennett, in an address to Napier Rotarians. The Native Land Settlement Department had also done much good for the Maoris. A total of £138,066 had already been spent by that department, while a further £30,122 had been spent by tho land boards of the Dominion and £6509 by the New Zealand Native Trustee.

About 170 single men are at present employed in tree planting operations at Golden Downs, Nelson, under the Forestry Department. Owing to the rather late start not quite the area anticipated will be planted this season, but to date some 2000 acres have been put down—Boo acres in Douglas fir, 750 in pinus pondersoa, 300 in pinus insignis, various other varieties of milling timber making up the balance. With about 700 trees to tho acre, 1,400,000 trees have been added to the plantations.

LONDON WOOL SALE. CATALOGUES BEING CLEARED. Levin and Co., Ltd., have received the following cable from their London agents, dated September 26: Tho auctions are proceeding at the level of the opening day. Catalogues are being well cleared. Competition mainly from tho Continent. The following prices are current; —Merino: Super, lljd to 124 d; average, BJd to Fine halfbrod: Super 56-58’s, llid to 12id; average, 10id to lid. Medium: Super, 50-56’s, 9id to lOd; average, Bid to 9d. Coarse: Super 48-50’s, 7id to Bid; average, 6id to 7id. Fine crossbred: Super, 46-48’s, 7d to 7id; averago, 64d to 6Jd. Medium: Super, 44-46’s, 6id to 7d; average, 6d to 6id. Coarse: Super, 40-44’s, 6id to 6?d; average, s|d to 6id. Low: Super, 36-40’s, 6d to 6id; average, sid to 6d; pieces, 4id to sjd; bellies, to sd; locks, 2id to 3d. SALES AT SYDNEY. SPIRITED BIDDING. At tho wool sales. to-day 11,239 bales were offered, of which 10,703 were sold at auction 1483 being disposed of privately. Trie market was firm at yesterday’s levels for all descriptions. Bidding was spirited all round, Continental operators being most active. Greasy Merino made up to 15d. AUCKLAND MARKETS. ONIONS SCARCE AND DEAR. AUCKLAND, Sept. 27. A particularly heavy cargo of potatoes arrived from the south by the Waimarino, so that the local market is well supplied in the meantime. Recent quotations are holding, but an easing is expected when the most pressing orders have been fulfilled. Current values are £8 15s per ton, ex wharf, and £9 through store. Onions are still scarce and dear. There are small stocks of Japanese on hand, and these when repicked command 32s 6d a case. The first substantial consignment from Canada is due by the Aorangi next week, and ia being quoted at 22s 6d a bag, and 25s a case. The market for horse feed continues quiet and unchanged. B Garton oats are selling at 4s 3d per bushel, and chaff at £8 15s per ton. The maize market continues steady, with Bay of Plenty selling at 5s 3d per bushel, while limited stocks of South African can command 6d premium. There is satisfactory trading in bran and pollard on the basis of recent quota- ‘ tions, mill prices being, pollard £6 10s s per ton, bran £5 10s. 1

MARKETING OF PIGS. SUPPORT FROM OPHCI. A supply of 600 pigs was promised by farmers at a meeting hold at Opiki, last evening, to hear tho scheme being advanced by tho Now Zealand Co-operative Pig Marketing Association for the commencement of operations in the M&nawatu, where it is proposed to begin operations immediately. There was a largo attendance at the meeting, despite tho inclement weather, tho hall being full. Mr Hansen presided and those present were most enthusiastic. The mooting was addressed by Mr Roach, of Hamilton, a director of the association, and extensive support was forthcoming. DAIRY PRODUCE AGREEMENTS. WORK OF DELEGATION TO OTTAWA WELLINGTON, Sept. 27. A brief outline of the dairy produce agreements made at Ottawa was given to members of tho Dairy Board yesterday by Rt. Hon. J. G. Coates, at the conclusion of which members expressed /keen appreciation of the excellent work performed for tho producers by the delegation which wont from New Zealand, and particularly for the very valuable work done by Mr Coates himself. Mr Coates said that one fact which emerged from Ottawa was that, owing to the effectiveness of its producers’ organisations, New Zealand was the one Dominion that could speak directly for the producers to the point of finalising definite agreements regarding produce. At the Conference they had been out to raiso the price levels of primary products, and they badly needed the type of organisation which existed in the dairy industry. Other Dominions had no such organisations, their representatives being confined to officials and members of intermediate industries, such as packers, and it took little imagination to see at once the difference between the force of representations put forward under the different circumstances outlined. He wanted particularly to pay a tribute to the very fine work carried out by Mr W. Goodfellow, who had been a tower of strength all the way through. After his experience at Ottawa, ho was convinced that there was no one in tho British Empire who had a sounder knowledge of dairying and marketing organisation than Mr Goodfellow-; certainly there was no one at Ottawa to hold a candle to him, and ho was recognised at once as an authority on all matters pertaining to dairying. Mr Coates outlined the agreements made in connection with various forms of dairy produce, and emphasised the paramount need for attention to quality, as this aspect had been stressed by all the British delegates repeatedly. Mr W. A. lorns, chairman outlie board, expressed tho thanks of the board and the industry for the work Mr Coates had done at Ottawa, and said that they had felt from the outset that he was the only man who could handle the case for the producers effectively. The able way in which Mr Coates had stated their case at Ottawa was very greatly appreciated by the industry.

EXPORT OF BUTTER. ADVOCACY OF ONE GRADE. MASTERTON, Sept. 27. “It is a small matter now, but I think the. time will come whon it will bias oiir market,” observed Mr A. Campbell when referring to the question of whey butter at tho annual meoting of shareholders of the Mauriceville Co-operative Dairy Company to-day. “Whey butter is all right when fresh, but I do not know what it is like when it reaches tho Old Country.” The chairman, Mr 11. Myers, said that this matter had been brought up at tho National Dairy Conference, but had not had a very good hearing. The cheeso men thought a lot of their whey butter. Mr A. Donald expressed tho opinion that too many grades ot butter .were being sent Home, just the same as there were too many grades of cream within tho country. The Danes, he said, sent only one grade of butter. That was known as Danish, and he thought Now Zealand should adopt the policy lie advocated, sending Home only one grade, that was first grodo. Second grade and whey butter should be used in New Zealand.

SYDNEY STOCK EXCHANGE

SYDNEY, Sept. 27. The Sydney Stock Exchange was fairly active to-day, trading covering a wide range of securities. There were only slight price fluctuations. Sales: Bank of New South Wales, £3l 10s; Commercial Bank of Sydney, £l7; Commorcial Bank of Australia, 16s 9d; Colonial Sugar, £54 12s 6d; Mercantile Mutual Insurance, 18s 6d; New Zealand Insurance, 495; Burns, Philp, 495; Adelaide Steam, 21s 6d; Goldsbrough, Mort, 27s 7id; Winclieombc, Carson, 245; 1 ootli s, 33s 9d; Australian Glass, 44s 6d; British Tobacco, 34s 6d; Dunlop Pordriau, 16s 7£d; Electrolytic Zinc, 18s 3d; Broken Hill Proprietary, 22s 3d; North Brok.en Hill, 755. Commonwealth bonds, 4 per cent., 1938, £lOl 3s 9d; 1941, £lOl 6s 3d; 1944, £lOl 12s 6d- 1947, £99 16s 3d; 1950, £100; 1953, £IOO ss;’ £IOO 12s 6d; 1957, £101; 1959, £lOl 15s; 1961, £IOO. MELBOURNE, Sept. 27. Sales: Commercial Bank of Australia, 16s lid; Australian Glass, 44s 6d; British lobacco, 34s 6d; Herald-Times, 54s 6d; North Broken Hill, 755; Mount Lyoll, 23s 9d.

RATES OF EXCHANGE. LONDON, Sept. 26. The following rates on foreign exchanges were current to-day, os compared with

PRICES OF METALS. ’ SYDNEY, Sept. 27. The official London (middle) quotations for Monday, as received by the Australian Mines and Metals Association, compare as follow with those previously cabled : Sept. 22. Sept. 26. Per ton. Per ton.

WELLINGTON STOCK EXCHANGE. I YESTERDAY’S BUSINESS AND PRICES. After a long week-end, due to the holiday on Monday, the market reopened yesterday with a quieter tone. Prices, however, were fairly firm with little change from the closing rates of last week. Three salos of Government stocks were reported at late rates, but the demand was slow. Banks wore in strong request. Australasias were 3s down at £9 12s, E.S. and A. Bank were steady at £4 15s, sellers asking 3s higher. New South Wales were 2s 6d firmer at £27 15s, sellers £2B ss. New Zealand were 5d easier at 47s 4d, but holders wanted 48s. Insurance shares were in good demand with little variation in prices. South British were reported done at 58s, and New Zealands at 42s 9d. There were no features of note in the other sections of the market. YESTERDAY’S QUOTATIONS.

YESTERDAY’S SALES.

The following sales were reported on the stock exchanges of the Dominion yesterday : Wellington.—lnscr. Stock, 5£ p.c., 1936, £9B 17s 6d; ditto, 5£ p.c., Feb., 1937, £99 ss; Ylitto, 5£ p.c., 1937, £96; South British Insurance, £2 18s*, £2 18s; New Zealand Insurance, £2 2s 9d; Waihi, cum. div., 1/s*. *Late sale Saturday. Auckland. —Inscr. Stock, 4£ p.c., 1938, £95; Central Power Board, 52 p.c. Aug., 1957, £95; Commercial Bank of Aust., 14s 10d; Bank of New Zealand, £2 7* 6d, £2 7s 9d, £2 7s 6d. £2s 7d, £2 7s; Goldsbrough, Mort, £1 4e 9d; Auckland Gae, £1 Is 6d; Farmers’ Fertiliser, 16s 9d; Golden Point, 6£d; Waihi. 17s. Christchurch. —Sales on ’Change: Inscr. Stock, 54 p.c.. Sept., 1937. £99 2s 6d; Bank of New Zealand, £2 73, (3) £2 7s 3d; Union Bank of Australia., £7 15s; Dalgcty and Co., £3 12s 6d; United Building Society, cum. div. (2), 15s; N.Z. Rofrigcrating, 10s paid (2), 3s 9d; N.Z. Breweries, £1 Te; British Tobacco, cmn. div. (3), £1 10s 6d, £1 10s 6d- Kauri Timber, 14s 3d; Mount Lyoll (2), £1 Is scl, (5) £1 Is 3d; Golden Point, 6d; King Solomon (2), Is lid. Sales reported: Union Bank of Australia, £7 16s. Dunedin—Sales reported: King Solomon, Is lid; Australian Glass, £1 19s; N.Z. Breweries, £1 9s 6d; Inscr. Stock, 4| p.c., 1938, £94 17s 6d.

Great Britain. N.Z. Sheep 26,235,737 29,792,516 Breeding sheep 10,954,731 17,608,729 All cattle 7,953,228 4,080*525 Dairy Cattle 3,500,971 1,601,633 Pigs 3,167,669 476,194 The big disparity in the number of

par: — Sept. 26. Par. Now York. dol. to £1 ••• 3.455 4.666 3.825 4.866 Paris francs to £1 88 7-32 124.21 24.95 35.00 17.925 25.225 Amsterdam, florins to £1 8.61 12.107 07.375 92.46 14.525 20.43 19.475 18.159 Copenhagen, knr. to £1 Oslo, knr. to £1 Vienna, schgs. to £1 19 9-32 19.675 18.159 18.159 *29.50 34.585 Prague, knr. to £1 Hei’fors, marks to £1 ... 116.25 232.50 164.25 193.23 42.25 25.225 110 110 Athens, dracli. to £1 5f2.5U 375 Belgrade, din. to £1 Bucharest, lei to £1 232.50 580 2 m.3i 813.60 43.38 Warsaw, zloty to £1 — Rio de J., to mil [i. Aires, p. to peso *5i 16.70 47.62 M. Video, p. to peso *30 Calcutta, p. to rup 18 5-32 18 Shanghai, p. to tael H.-Kong, p. to dol 2i 3-16 164 16 13-16 24.582 8.68 12.107 •Nominal.

Copper— £ 8. 35 15 d. 0 S «. 35 8 d 9 Standard, forward 35 16 3 56 9 4* 'Electrolytic 39 5 0 39 0 0 39 15 n 39 10 0 Wire bars 39 15 0 39 10 0 13 6 3 13 2 6 Forward 13 7 6 15 5 9 Seeker — 15 15 0 15 11 3 Forward 15 16 3 15 11 3 Tin— Spot 154 8 9 153 5 0 fForward 156 3 9 154 18 9 Silver Standard, per oz .. — Fine, per oz — 'American, 6 cents. fAmerican, 23.35 cents per lb. 17 13-16d 19 3-16d

Buying and selling quotations at yesterday s final call on the Wellington Stock Exchange were as follow: — Buye ire. Sellers. N.Z. GOVT. LOANS— £ s. d. £ s. d. 4i p.c. Stock, 1938 ... — 95 0 0 5i p.c. ditto, 1936 —■ 99 0 0 5£ p.c. ditto, Feb, 1937 99 0 0 — 5i p.c. ditto, Sep, 1937 — 99 7 6 BANKS— Australasia *9 15 0 — Com. of Aust., ord. — 0 15 1 E.S. and A — 4 19 0 National of N.Z — 4 0 6 N.Z., long term 1 S 6 — FINANCIAL — Goldsbrough, Mort ... 1 4 6 1 5 1 Well. Dep. and Mort. 0 7 9 — Wright, Stephenson, prof — 0 16 6 GAS— Wellington, ord — 1 11 0 Ditto, pref 0 17 3 — INSURANCE— Aust. Prov. Assoc. ... 0 4 6 — National 0 14 5 — New Zealand 2 2 6 — South British 2 17 6 2 18 3 MEAT PRESERVING— N.Z. llefrigerat., £1 0 10 3 — Ditto, 10s paid 0 3 7 . Well. Moat Ex., pref. 0 16 9 — TRANSPORT— Huddart, Parker, ord — 1 10 0 Union Steam, pref. ... 1 0 4 — WOOLLEN— Wellington, ord 5 0 0 — Ditto, pref 5 0 0 — COAL— Pukemiro *1 4 0 — Westport 0 12 0 — Wcstport-Stockton, ord 0 0 6 — TIMBER— National — 0 7 0 Taringamutu — 0 5 0 BREWERIES — Now Zealand — 1 10 3 MISCELLANEOUS— British Tobacco, ord. *1 10 3 — Burns, Philp 2 2 9 2 5 0 Electro. Zinc, pref. ... *1 5 9 1 6 6 N.Z. Drug +2 18 6 3 0 0 Farmers’ Fertiliser .... 0 16 6 — Well. Queen's Theatre — 1 1 0 Wilson’s Cement 1 13 0 1 14 0 MINING— Waihi t0 16 8 0 17 3 Big River, Is paid ... 0 0 11 0 1 1 Ditto, lOd paid 0 0 9 — *Cuni. dividend. fEx dividend.