FARMING AND COMMERCIAL

Manawatu Standard, Volume LII, Issue 267, 11 October 1932, Page 5

FARMING AND COMMERCIAL

BUTTER AMD CHEESE. markets reviewed. Zealand la . test . mar ket report the New Ltd , a Ecuts of W. Weddel and Coy., of _"°ndon, state that the arrivals Octoh ca ' a nd butter in Britain during tho market t b ° I,ght ’ and they expect heavv .!!' r . emain steady, but with the ful iu a L lvals , ln November, it is doubtmainfcl;. J ‘ ho . present levels will bo Germanv ■b )ur ‘ n g October France and biitt ß^ ny 1 j Cre , a ?°d their quotas of foreign Market' st a eady! h,S ha 3 helpCd t 0 ke ° P th ° verv l H?fi d . bu i yers butter are showing the^rolci 8 iu terc at Present, chiefly for offpro^ aS ? n tbat Australian butter is being cwt cl AJ 10 cheese market has remained fairly „u„„’ a . rbo big premium for white thourfb tu Stl being maintained. Althere wore a few buyers for early mm,!! 3 mabe at as high as early in tho month, operators seem to have withdrawn, and generally speaking there is *•.. Very t much confidence in the future 15,YI 5 ,Y? n , o£ cheese. The spot stocks aro tin tight, but buyers seem to bo nervous as to how the market will move when the neavy arrivals of new season’s Southern tlemisphcre cheese begin to reach the market.

The estimated arrivals of New Zealand P u “ cr and cheese in Britain during Octo.?Fr > November and December, compared "r 1 ,n 7^ ua l arrivals in the same quarter of 1930 arid 1931, are given as follow: —

New Zealand Butter (tons)

LONDON MARKETS. HIGH COMMISSIONER’S REPORT. The Department of Agriculture has received the following cablegram, dated October 8, from the High Commissioner for New Zealand, London: Tallow:—Fair demand at auction; 431 casks offered, 'of which 319 were sold at 6d advance. Present spot quotations are: Mutton: Fine 265, fair to good 23s to 25s 6d, dark to dull 20s to 21s. Beef: Sweet and/or mixed 25s to 28s, fair to good 22s 6d to 245, dark to dull 19s 6d to 20s 6d, Mixed: Fair to good 22s 6d to 23s 9d, dark to dull 18s 6d to 20s 6d. Gut, etc., 18s to 20s 6d. Hemp.—Manila, market inactive and easier. "K” grade for October-December shipment quoted sellers £l6 ss. Sisal market quiet, but steadier at the close. Nominal value for October-December shipment No. 1 good marks, £ls 15s, and for No. 2, £ls. New Zealand market quiet, with shippers’ offers on the basis of fair £l4 15s, but buyers'not interested. Buyers’ ideas £l4. Eggs.—Market steadier, with firmer tendency. English national pack, 14s 6d to 18s; English ordinary pack, 15s 6d to 16s; Danish, lls 9d to 14s; Australia, 12s to 13s 3d; South African, lls 9d to 13s 6d. THE SHEEP FLY. RESISTANCE OF ANIMALS. All efforts'so far for the control of the sheep blowfly by biological means having failed, for the reason that the fly has bred up infinitely faster than .The native parasites, and introduced species of the latter having failed to establish, scientific workers hold out very little hope for that lino of defence, remarks a New South Wales writer. Meantime it is self-evi-dent that the vigilance of owners in fob. lowing direct methods of treating and endeavouring to protect the sheep cannot be neglected. Tho theory of immune strains and insusceptible types, on the other hand, is receiving more recognition, as evidence in support- _ is accumulated both in experiment and in the field. Twenty years or so ago, when Mr b. Wilson, of Lake Cowal Stationi, advanced tho theory that conformation and the evolution of typo in the Merino were potent factors in susceptibility to attack, his was a voice crying in the wilderness. The investigations of tho Council for Scientific and Industrial Research in conjunction with tho Now South Wales Blowfly committee raised the factor of susceptibility, and this has been strengthened by later observation. Even the apparent success of tho elaborate system of trapping flies at Bundemar is being attributed more to the plain-bodied type of sheep than to the destruction of flies. In this connection, too, it is interesting to noto that tho historic Qamdon Park Merinos, which perpetuate in purity Captain John Macarthur s foundation flock have never been troubled with flies. And’ thoy .are absolutely plain-bodied sheep.

.POVERTY BAY MAIZE. HEAVY PLANTING FOR NEXT SEASON. GISBORNE, Oct. 10. Last season’s maize crop in the Poverty Bay district is reported to be shelling out better than was anticipated and now it is expected that the total yield will show an increase on that of the 1931 season. Stocks of new grain, however, have been moving very slowly as a result of largo importations and low quotations from the Bay of Plenty. The Gisborne price remains at 4s 3d per bushel, although it is stated that in the odd instances independent operators have reduced quotations to 4s. Even this price is apparently not tempting buyers, while Bay of Plenty supplies are going forward at 3s lid to 4s on rail. Local merchants discount the suggestion that further heavy importations are likely, believing that the present prices are low enough to check purchases from overseas. Growers do not appear to be discouraged by the comparatively low prices, for indications are that a still larger crop than last year will be planted, a reliable estimate placing the increase at 15 per cent. Conditions so far have been favourable and with their continuance growers anticipate a satisfactory return.

STOCK MARKET. The Dominion Auctioneering Co. report having a large yarding of pigs and poultry for Saturday, the Bth instant. Pigs were in demand, and prices realised showed a marked advance on the previous, week. Detailed prices were as follow: —Pigs: Weanera (small), 7s to 10s 6d; weaners (best), 12s 6d to 15s; slips, 9s 6d to 15s 6d; stores, 18s to 245; porkers, 28s to 31s. Poultry: Six weeks ola cockerels, (per doz), 2s 6d to 4s 6d; hens with chicks, 8s to 13s; hens, laying, per pair, 8s; hens, table per pair, 4s 2d to 5s 6d; cockerels (B.O.), per pair, 5s to 8s; cockerels (L.W.) per pair, 3s lOd to 5s Bd.

SYDNEY WOOL SALES. SYDNEY, Oct. 10. At the wool sales to-day, 11,638 bales were offered, of which 10.710 bales wero sold at auction, 232 being disposed of privately. There was strong competition from Japan and the Continent, and also from Yorkshire. The market was firm, though some faulty lots were irregular, especially if lacking fineness. Greasy Merino sold up to 16 3-4 d. The average price of the wool 6old last week was £ll 17s 9d per bale, or 9.2 d per lb. FOREIGN EXCHANGES.

LONDON, Oct. 8. The following rates on foreign exchanges were current to-day, as compared with

FARMING N'EWS.

RURAL RAKINGS. In the South Taranaki district there is a good demand for dairy stock, especially bulls and yearling heifers. . The butter output from the Tauranga factory is about one-third more than for the corresponding period last year. The first draught of fat lamb 3 from Takapau this season came off the Oruowharo Station, last week, and was railed to Wellington. ... The cabbage butterfly is again showing up in large numbers all around the Hawke’s Bay district and early cruciferous crops have already suffered from its depredations. The excellent weather has given an impetus to early shearing of dry sheep in Hawke’s Bay and a start has already been made in this direction on numbers of properties. Shearing operations should commence in earnest after the Hawke’s Bay Show and this season several sheepmen have decided to shear a little later than usual, jn order to permit of the wool getting the full benefit of the sunny weather.

WELLINGTON STOCK EXCHANGE. YESTERDAY’S BUSINESS AND PRICES. There were no outstanding features in the Wellington stock market yesterday. An active inquiry by investors revealed a firm undertone, sellers’ margins in many cases being fairly wide. Government securities wero bid for at firm rates, and there was a marked absence of sellers. Buyers raised their quotations 2s 6d for the 44 per cent, bonds, and the 54 per cent, stocks, September, 1937, and 5s for the 54 per, cents., 1936. Bank of New Zealand ordinaries wero slightly firmer on sales at 458 lid and 46s late on Saturday, and at tho latter price yesterday. Late buyers wore bidding 45s 6d, but sellers asked 46s 3d. The long term mortgage shares were 3d lower at 29s 3d. New South Wales and Union of Australia were firm and unchanged. Australasias were unsupported at £9 15s. There was a bettor inquiry for financials. Morte, wero unchanged at 24s 3d, and Now Zealand Loan and Mercantile Agency were firm at £49, but there were no sellers in either case. South British Insurance wero 3d firmer at 565, pending the announcement of the final dividend, which is due this week. There was little or no change in tho other sections of the market. YESTERDAY’S QUOTATIONS.

*Cum. dividend.

YESTERDAY’S SALES. The following sales were reported on the 6tock exchanges of the Dominion yesterday : _ 1 c Wellington—Sales reported: Bank of New Zealand, £2 5s lid*, £2 6s*, £2 6s; Big River, lOd paid, lid. # Lat© sale batin’Auckland. —N.Z. Loan and Mercantile Agency, £57 10s; Northern Steam, contr., 2s 4d; British Tobacco, £1 11s 6d; Waihi (2), 17s 3d. Christchurch. —Sales on Change: Commercial Bank of Aust., 14s 8d; Goldsbrough, Mort (2), £1 4s sd; Westport Coal, 12s 6d; Golden Point (2), 7d; Muhakipawa (3), 44d. Sales reported: Inscr. Stock, 5J p.c., Sept., 1937 £99 12s 6d: Bank of Now Zealand (2), £2 6s*, £2 5s lid, South British Insurance, £2 17s. *Late sale Saturday. Dunedin.—Sales reported: Inscr. Stock, 41 pc, 1938, £95; Bank of New Zealand, £2 6s; Okarito, 8s Bd*; Waihi Grand Junction, 3s sd. *Bate eale Saturday.

SYDNEY STOCK EXCHANGE. SYDNEY, Oct. 10. On the Sydney Stock Exchange to-day Australian ‘Consols were again meeting a good inquiry. Prices advanced. Industrial stocks wcro active, with prices firm. Others wore steady. Sales to-day includes: Commonwealth bonds 4 per cent., 1938, £lOl 12s 6d; 1944, £lO2 5s ; P 1950, £100; ’1955 £loll2s 6d ; 1957, £lOl 18s 9d; 1961, £IOO 16s 3d. Commercial Bank of Sydney £l7 ss; Bank of New South Wales, £3l ss; Toohey s, 23s 3d; Tooth’s, 38s; New Zealand delivery 37s 7id; Australian Glass, 45s 3d; Gold'sbrough, Mort, 27s 9d;. Winohcombe, Carson, 255; Dunlop-Perdriau 16s 9d; Broken Hill Proprietary, 23s 3d; Mount, Morgan, 20s lOJd; New Guinea Gold, 7s sd. '

October .... November December 1930. 1931. 4,424 6,561 12,802 1932. 3,070 10,800 14,750 19,427 " 23,787 28,620 New October .... November December Zealand Cheese (tons). - 1,430 3,022 11,181 7,602 2,210 5,700 9,761 16,963 13,856 17,671

par: — Oct. 8. Par. New York, dol. to £1 3.453 4.866 Montreal, dol. to £1 .. 3.80 4.866 Paris, francs to £1 .. 8713-16 124.21 Brussels, bel. to £1 .. 24.825 55.00 Geneva, francs to £1 .. 17.825 25.225 Amsterdam, florins to £1 8.575 12.107 67 7-16 92.46 14.525 20.43 Stockholm, knr. to £1 19.475 18.159 Copenhagen, knr. to £i 19.275 19.85 18.159 18.159 Vienna, schgs. to £1 .. *29.50 34.585 Prague, knr. to £l .. 116.50 164.25 HePfors, marks to £1 232.50 193.23 Madrid, pes. to £1 .. •y 42 3-16 25.225 Lisbon, esc. to £1 110 110 Athena, drach. to £1 .. 580 6(b Belgrade, din. to fA ■■ 235 2/6.51 Bucharest, lei to £1 .. 580 513.60 Warsow, zloyt to £l .. *5 7-32 43.38 Rio de J., p. to mil. 16.70 li. Aires, p. to peso .. * 47.62 M. Video, p. to peso . *«50 51 Calcutta, p. to rup. .. 18 1164 18 Shanghai, p. to tael .. 21* H.-Kong, p. to dol. .. 16i Y’hama, p. to yen .. 16* 24.582 Batavia, gl. to £1 — 12.107 ‘Nominal.

Buying and selling quotations at yesterday’s final call on the Exchange were as follow Wellington Stock Buyers. Sellers. N.Z. GOVT. LOANS— £ s. d. £ s. d. 4£ p.c. Bonds, 1939 ... 95 0 0 — 4£ p.c. ditto, 1938 95 0 0 — 54 p.c. ditto, 1936 5i p.c. Bonds, Feb., 99 7 6 1937 99 7 6 — N 54 p.c. Bonds, Sept., 1937 99 7 6 — 54 p.c. ditto, 1937 96 0 0 — 44 p.c. Stock, 1939 ... 95 0 0 — 44 p.c. ditto, 1938 95 0 0 — 54 p.c. ditto, 1936 5i p.c. Stock, Feb, 99 7 6 1937 99 7 6 — 54 p.c. Stock, Sept., 9910 0 1937 — DEBENTURES— Well. City, 54 p.c., 1940 — 99 10 0 Well. Harb. Bd„ 54 p.c., 1940 99 15 0 — 0 Well. Racing Club ... ' 92 0 BANKSAustralasia 9 15 0 — Comm, of Aust., ord. — 0 14 8 E.S. and A. — 4 17 6 National of N.Z — 4 0 0 New South Wales ... 27 17 6 28 10 0 New Zealand 2 5 6 2 6 3 Ditto, long term 19 3 — Union of Aust 7 15 0 — FINANCIAL — Equitable Building .... — 5 0 u Goldsbrough, Mort ... 1 4 3 — 0 N.Z. Guar. Corp., ord. 0 5 1 0 6 N.Z. Invest., Mort., Dep 0 7 0 — Loan, Mercantile 49 0 0 — Well. Trust, Loan .. 4 17 6 — Wright, Stephenson, pref GAS— U lb 0 Wellington, ord — 1 u 3 Auckland 1 1 0 — Christchurch INSURANCE— 1 4 10 Aust. Prov. Assce. .. 0 4 6 0 14 National 0 14 5 9 Queensland 2 3 0 — South British MEAT PRESERVING2 16 0 . Gear — 1 15 3 Meat Export, pref. ... 0 16 9 — TRANSPORT— Huddart, Parker, ord. — 1 10 0 Union Steam, pref. ... 10 6 — WOOLLEN— Wellington, ord — 5 9 0 COAL— Westport — 0 15 0 TIMBER — National — 0 7 0 Taringamutu — 0 5 0 BREWERIES— N.Z. Breweries 18 3 1 9 0 Tooth and Co , 112 6 MISCELLANEOUS— British Tobacco, ord. . 1 11 3 112 6 Burns, Philp 2 3 0 2 5 6 Electro. Zinc, ord 0 16 0 — Ditto, pref *16 0 — Farmers’ Auct.. B. . . _ pref — 0 14 0 N.Z. Drug Farmers’ Fertiliser ... 2 19 6 3 1 9 0 16 9 0 17 9 Wilson’s Cement — 1 13 6 Newton King, pref. ... 0 4 0 0 9 0 OIL— Moturoa 0 4 0 — Taranaki — 0 2 9 MINING— _ . . King Solomon 0 19 u z u Mount Lyell 1 1 0 — *0 17 0 — Big River, lOd paid — 0 1 2