FARMING AND COMMERCIAL

Manawatu Standard, Volume LII, Issue 306, 24 November 1932, Page 5

FARMING AND COMMERCIAL

PIG INDUSTRY. DEVELOPMENT CLUB. REPORT BY RECORDING OFFICER. “Since presenting my last monthly statement,” said the recording officer (Mr W. J. Croucher) at a meeting of the Mana-watu-Oroua Pig Development and Recording Club, “there has been nothing of particular interest to report in connection with the sow and litter recording. This being the time of the year covering the period between spring and summer farrowings, not a great many young littel’s are being pre-, sented for weighing, but from now onwards a greater number will be coming forward. Altogether 60 separate records of 6ows and litters have been made to date, some 35 of which have been completed. “With respect to the farm test for pork production, considerable interest in this work has been shown by farmers who have been approached, and there seems every prospect that some valuable practical informoration wilj be forthcoming from this source. It is too soon yet to report any definite figures in farm pork production, but it is encouraging to record that the scheme is meeting with general approbation, although farmers seem a little perplexed in regard to certain particulars of the records, such as, for instance, the distinction between weaners, stores, porkers and baconers and the milk supply to each section. It takes considerable, time to get into personal contact with individual farmers, especially at this time of* the year when every one is so busy with pressing farm work. However, it is satisfactory to have reliable assurance that the scheme is a step in the right direction. COMPREHENSIVE PLAN WANTED. ‘‘On more than one occasion the point has been stressed, when discussing pig development with a view to building up a greatly increased -export trade commensurate with the possibilities of the Dominion in relation to the food supply available from dairy by-products, that some still more comprenensive plan should be adopted whereby all farmers could have their interest quickened in the pig section of then* business. , “Having this in mind, it was suggested in my last report that something in the nature of a bulletin or circular letter might be compiled fund distributed, but the question of expense was advanced and the matter was left in abeyance. Perhaps some other avenue could be investigated without incurring any additional expense to the club. After a general discussion on the question of greater publicity of the efforts that are being made to stimulate development in the pig industry, it was decided to have a circular oompiled for distribution. LITTER RECORDS. “The progress report on sow performances which have been completed to date was reviewed at some length and satisfaction was expressed at the returns recorded, but seeing that only a small portion of the year’s work had been completed it is too soon yet to anticipate what the final returns will be over the full period. However, it is interesting to note that, of the 24 returns from purebred sows, the average number of pigs reared per litter works out at 8, having an average weight of 381bs. at 8 weeks. One particular sow reared a litter of ten with a gross weight of 5051bs at 8. weeks. This is particularly good, if not a record performance, and indicates possibilities that can be attained where a combination of inherent characters, such as prolificacy and early maturity, exist in the parent strain, supplemented by good manr agement. The feeding methods employed in this instanco are of interest and ivere as followßefore farrowing the sow was run on grass and provided' with a small quantity of skim milk daily. Up to three weeks after farrowing she was given up to 10 gallons of skim milk with the addition of lib. each of bean, pollard and meat meal. At three weeks the litter commenced feeding from a separate trough .and were supplied with 10 gallons of skim milk and lib pollard, lib bran, and lib meat meal daily. The meals were mixed in the milk. The quantity of milk was gradually increased till 15 gallons daily I was given at 8 weeks. The ineals were i likewise increased to 21bs pollard, 21bs I meat meal, and 21bs bran. After weaning at 8 weeks a new feeding formula is being used and the pig weights will be recorded up to 16 weeks. “In the crossbred section, covering eleven completed weighing records, the average weight per litter is 391bs. at 8 weeks, and the number of piglets reared per sow is nine. Of the actual number of pyfs born (including still born) and the _ number weaned the percentage of mortality work 3 out at 21 per cent, in the purbreds and 15 per cent, in the crossbreds. BUTTER MARKET. Joseph Nathan and Co., Ltd., are in receipt of the following cable advice from London, dated November 22:.New Zealand butter: Finest, 88s per cwt.; first, 87s. Market weak. New Zealand cheese: White, 60s to 61s per cwt.; coloured, 58s. Firm; more doing. , ~ The New Zealand Producers Co-operative Marketing Association’s weekly cabled market report from London, dated November 22, is as follows:—Butter: Market is depressed and declining. New Zealand, finest grade, 87s to 88s; first grade, 86s to 87s; Danish, 120 s. Cheese: Market steady. New Zealand, white, 60s to 61s; coloured, 57s to I 58s.

N.Z. WOOL SALES. REGULATIONS OF OFFERINGS. MAXIMUM LIMITS FIXED. WELLINGTON, Nov. 23. The New Zealand Wool Committee, comprising representatives of the producers, woolbrokers and woolbuyers, hold a meeting yesterday for tho purpose of exorcising its functions in regulating the offerings of wool at the various sales to bo held throughout tho Dominion during tho coming season. The maximum aggregate quantities of wool which may be offered at the sales were fixed as follow:

LONDON WOOL SALES. CONTINENT ACTIVE. LITTLE CHANGE IN PRICES. Private cabled reports received in Wellington yesterday regarding tho London wool sales were as follow: — Bank of New Zealand’s produce department : The sales have opened with moderate competition and a largo attendance of buyers. Compared with tho close of last, series, prices for Merino and fine crossbred are unchanged. Medium and coarso crossbreds aro about id per lb lower. Bank of New South Wales. —Merino unchanged. Fine crossbred firm and unchanged; medium and coarse 5 per cent, lower. Slipe, 5 per cent, to 7i per cent, lower than last sale’s close. Good competition. _

Dalgety and Company, Ltd.: Competition animated, large attendance of buyers. Continent largest buyers. Merino selection good. Crossbreds, few offering. As compared with closing rates of September-October series, Merinos and fine crossbreds unchanged. Greasy Merinos (inforior),_ change if any in favour of buyers. Medium and coarso crossbreds, par to rather lower. Fine slipes very firm. Slipe, other descriptions, rather easier.

Levin and Co., Ltd.—The auctions opened with a largo attendance of Home and Continental buyers. There is keen competition. As at present arranged, sales will close on December 14. Compared with the closing rates of last series, the market is unchanged generally, but values of medium and coarse crossbreds, both greasy and slipe, are barely maintained. For pure halfbred and slipe halfbred lambs tho market is very firm. The New Zealand Loan and Mercantile Agency Co., Ltd.: There was a good attendance at the opening of tho sales, competition by Home and Continental buyers being active. Prices compared with the close of preceding series ruled about the same for Merino wool and fine greasy crossbred, and id to id per lb lower for medium and coarse crossbred. The opening catalogues were representative. New Zealand Farmers’ Co-operative Distributing Company, Ltd.: Prices compared with last London series: Merinos unchanged; fine crossbreds, par to 5 per cent, up; medium and coarse crossbreds, par to 5 per cent, down; slipes, fine, 5 per cent, up; slipes, medium and coarse, par to 5 per cent. down. Keen competition from all sections of the trade. SYDNEY SALES. FINE QUALITIES AT HIGH POINT. SYDNEY, Nov. 23. At the wool sales to-day 11,645 bales were offered, of which 11,014 were sold at auction, 1221 being disposed of privately. Values in the case of finer qualities werh at the best point of the season. Competition was keen and general. Groasy Merino made 25 3-4 d, constituting a record for the season. FARMING NEWS. RURAL RAIONGS. Tho supply of cream to the Ekctahuna factory for October showed an increase of 14,0001b5. over that of September, and the supply for November indicates an increase of about 26,0001bs over September. No fewer than 265 cheese were made in one day at the Now Zealand Co-opera-tive Dairy Company’s factory at Waharoa this week. This output is claimed to be a world’s record for one day’s manufacture. Investigations into the question of discolouration of coloured cheese have been made in Taranaki in the past week by Professor W. Riddet, of Massey Agricultural College, and Messrs W. M. Singleton, Director of the Dairy Division, and McKenzie, of the Dairy Division. A start is being made by two counties south of Auckland with the wprk of fighting the ragwort menace, utilising labour provided by the Unemployment Board. Men have been recruited in Auckland by the Auckland staff of the Unemployment Board for the Otorohanga County Council, which is to employ 50 men on this work. A purebred Australian Illawarra Shorthorn cow, the property of Mr G. Shiebel, of Bungawalbin, Coral;i district (New South Wales), last week dropped a heifer calf weighing 1041 b, a perfectly-proportion-ed animal. The mother is in tho “fivegallon” class, and the sire is one of the Moffit strain of purebred A.I.S. The average weight of a day-old calf is 501 b to 601 b. °A noticeable feature of farming in North Otago at the present time is the continued development of mixed farming as opposed to straight-out wool growing, crop growing, or fat lamb raising (says a southern exchange). Tho dairy cow is boing asked to provide the ready money on most farms now, and the number of small herds of from 12 to 14 milkers is larger than ever before. This change is reflected in cream collections and factory intakes, and in view of the bounteous nature of tho season it should have a very marked effect on production returns this year. And with the growth, of this typo of dairy farming has come a keener interest in the pig as a side line. Thero are probably more pigstyes in North Otago at the present time than ever before, and considering the strenuous and not unsuccessful efforts that aro being made to place tho pork export industry on a sound footing, the porker and baconcr are likely to be profit-earners. North Otago this year has a wonderful opportunity to recoup itself to some extent for the heavy losses which resulted from last year’s drought, and only a miracle can now prevent production tallies this season from reaching a highly satisfactory level. Feed of the best sort, is abundant everywhere, even on the high Back country, and the traveller through the district is greeted by the unusual spectacle of dairy cattle grazing in succulent grass which completely conceals their legs. Haymaking has commenced in many parts and a great many stacks have already been built. Cereal crops are looking at their best and the prospects of a good harvest aro brighter than, for many years. Some anxiety is felt with respect to the possibility of “take-all” making an appearance, but provided there is riot much more rain for the next few weeks, the disease should not cause any trouble. Lambs are coming forward in splendid [stylo, both numbers and quality being exceptional. The lambing in North Otago | this year is said to have been tho best for 25 years. —Exchange.

DAIRY PRODUCE

Total 12,203 25,656 7,380 17,593 Inereaso over October, 1931, 4823 tons; for period 8063 tons. . Of tho butter shipped in to the Unitod Kingdom tho position at time of shipment was that 95 per cent, was consigned, and 5 per cent, .sold f.°. b. Last year 85 per cent, was consigned, and 15 per cent, sold f.o.b. CHEESE (In Tons).

Total ! 4,658 13,722 4,665 9,020 Decrease from October, 1931, 7 tons; increase over period 3802 tons. Of tho cheoso shipped in October, 1932, 97 per cent, was consigned, 3 per- cont. sold f.o.b. (72 per cont. white, 28 per cent, coloured). For October, 1931, 99.32 per cent, was consigned, and .68 per cont. sold f.o.b. (61 per cent, white, 39 per cont. coloured). SHIPMENTS FROM AUSTRALIA. TO UNITED KINGDOM.

Per Piers Association. CHRISTCHURCH, Nov. 23. At tho Addington market to-day entries wore smaller in the fat lamb and fat cattle sections; the others wero of normal size. Both fat cattle and fat shoop fell in valuo, making lowor prices than for years. An over-supply of porkers also sold at very low prices. Tho ono satisfactory feature was a bettor fat lamb market.

Store Sheep.—A small but mixed entry. Good sorts of ewes and lambs were a shade dearer, but there was no cliango in other classes. Medium halfbred wethers, 8s Id to 10s Id; good ewes and lambs, 6s to 8s 3d; ordinary, 4s to 5s 6d; good dry ewes to 12s 4d.

Fat Lambs.—A small entry of 800-odd head was only enough to supply tho butchers, and they paid up to 5d a lb. This was beyond tho schedule for export, which has oponed at 4J)d per lb for 36’a and under, 4£d for 36-42’s, and 3Jd for overweights and second grade. Fat Sheep.—An average entry, including Southland sheep. Tho market was down for both owes and wethers, the former by from Is 6d to 2s and wethers Is to 2s a head. Exporters bought a few pens. Extra prime hoavy wethers sold to 14s; prime heavy, 11s 9d to 13s; priino medium, 10s to 11s 6d; ordinary and light, 8s to 9s 9d; extra prime hoavy ewes to 12s lOd; prime heavy, 9s 3d to 10s 9d; prime medium, 7s to 9s; light and ordinary, 5s to 6s 9d.

Fat Cattle.—3so head wero entered, all from within tho province excopt several truck lots from Otago. Thero was further easing of about 15s a head. Best beef mado 20s per 1001 b; good, 17s to 19s; heavy, 153 to 17s; ordinary cow to 14s; and rough down to 11s. Extra heavy steers sold to £9 7s 6d; prime heavy, £6 15s to £9 12s 6d; prime medium-weight, £5 10s to £6 10s; light and ordinary quality, £3 to £5; extra prime heifers to £7 12s 6d; prime, £4 5s to £5 15s; medium, £3 10s to £4; light to £2 15s; extra prime cows to £7 12s 6d; prime £3 10s to £5 10s; light and ordinary, £2 to £3. Ah over-supply of fat pigs and prices were lower than for a long time. Baconers mado 36s to 55s 6d; average per lb, 3Jd to 43d; porkers, 21s 6d to 31s 6d; average per lb, 3jd to 4Jd. JOHNSONVILLE SALE. SHEEP PRICES IMPROVE. A slight improvement in sheep prices was recorded at yesterday’s sale at Johnsonville. Wright, Stephenson and Co., Ltd., and Abraham and Williams, Ltd., offered to a largo attendance an average yarding of cattle and full yarding of sheep. A good cattle sale resulted at prices showing no alteration on last week’s rates. Competition for all classes of sheep was keen, prices being slightly firmer than last week’s rates. Cattle.—Prime heavy bullocks, £6 10s, £6 Bs, £6 ss, £6 3s, £6; medium bullocks, £5 16ra, £5 14s, £5 10s; prime heavy cows and heifers, £4 6s, £4 3s, £4, £3 18s, ■£3 16s, £3 12s, £3 103; cows and heifers, £3 2s 6d, £3 2s; vealers, £2 4s, £2 2s, £2, £1 19s, £1 17s 6d, £1 15s, £1 14s 6d. Sheep.—Prime extra heavy wethers, 12s 4d, 12s 3d; 12s 2d, 12s, 11s 8d; medium wethers, lOs 6d. 10s; prime hoavy ewes, 8s lOd, 8s 3d, 8s Id, Bs, 7s 9d; ewes, 7s 6d, 7s 2d, 7s; light and unfinished ewes, 6s, 5s 6d, ss; heavy hoggets, 12s, 11s Bd, 11s 6d; heavy spring lambs, 12s 6d, 12s 3d, 12s, 11s 3d, 11s: spring lambs, 10s, 9s lOd. 9s 6d, 9s 2d, 9s; light spring lambs, 7s 6d, ss. LEVIN SALE. There wero no sheep at the Levin sale on Tuesday when medium yardings of pigs and cattle were offered to the usual attendance. The sale throughout was a dull one and values generally were on a lower level. Prices were as follow:—Cattle: Fat cows £2 15s, forward cows, 21s, 28s 6d; empty heifer, 32s 6d; store cows 10s 6d, 12s, 14s 6d; cows and calves 255; yearling dairy heifers £2, £2 ss, £3 2s 6d; bulls £l, £1 2s 6d, £1 12s 6d; springing heifer £5, guaranteed cow at drop £6. Pigs: Weaners 8s 6d, slips 9s, 11s; stores 12s, 12s 6d, 13s, 13s 6d, 14s, 15s 6d, 17s; porkers 225, 23s 6d, 245, 255, 275, 27s 6d, 28s; baconers 30s, 325, 355. PAHIATUA SALE. Associated Live Stock Auctioneers, Ltd., report on their Pahiatua sale, held on Tuesday, as follows Cows in milk, £8 2s 6d. £7 10s, £6 ss, £5 15s, £5 ss, £5, £4 10s to £3 10s; cows, springing, £6, £5 10s; springing heifers, 3 at £3 12s 6d; yearling Jersey bull, £2. WESTFIELD SALE. LITTLE CHANGE IN PRICES. Per Press Association. AUCKLAND, Nov. 23. There was a smaller yarding of beef at Westfield to-day. However, prices showed little improvement. Extra choice ox sold to 17s per 1001 b; choice and prime, 15s to 16s; secondary and plain, 13s to 14s; prime young cow and heifer beef, 14s to 16s; ordinary cow beef, 8s to 13s. Extra heavy primo steers ranged in price from £6 10s to £6 17s 6d; heavy prime, £5 15s to £6 7s 6d; lighter prime, £4 15s to £5 12s 6d; light primo, £3 15s to £4 12s 6d; small and unfinished, £2 5s to £3 12s 6d; extra heavy Erimo young cows and heifers, £4 to £5; eavy primo, £3 to £3 17s 6d; lighter prime, £2 to £2 17s 6d; other killablo cows, £1 5s to £1 17s 6d. The demand for calves was not keen and values receded. Runners made £1 2s to £2; heavy vealers, £2 4s to £2 7s; medium, £1 16s to £2; light, £1 6s to £1 10s; small, 12s to 20s; rough and bucketfed, 5s to 13s; bobby calves, Is to 6s. An averago yarding of sheep sold steadily at late rates. Primo wethers made 9s to 245; unfinished, 6? to 10s 9d; primo ewes, 5s to 9s 9d; unfinished, 4s 3d to 6s 3d; hoggets, 8s to 11s 6d. Lambs came forward in largor numbers and met a ready sale at prices on a par with those of last week. Heavy primo made 12s 9d to 14s; lighter primo, 103 9d to 11s 9d; light primo, 9s 6d to 10s 6d; unfinished, 6s to 9s 6d.

There was an averago yarding of pigs and values were unchanged. Baconers mado 23s to 575; porkers, 18s to 345; largo stores, 14s to 17s.

FROZEN MEAT. LAMB MARKET FIRM. The New Zealand Farmers’ Co-opera-tive Distributing Co., Ltd., Feilding has just received the following cable from its London office: —“Lamb market firm and steady.”

WELLINGTON STOCK EXCHANGE. YESTERDAY’S BUSINESS AND PRICES. Investors yesterday transferred their attention from gilt-edged securities to goldmining shares. There was not a single inquiry for Government securities, but the sellers’ list was a full one. Wellington Harbour Board 5j per cents, and Wellington Gas 6i per cents, were the only debentures in domand. There was a keen inquiry for banks with but little change in prices. Australasias were firm at £9 Ids, sellers not quoting. E.S. and A. Bank were 3s better at 84s. National of Australasia, £5 paid, were wanted at 745, sellers asking 3s better. New Zealands were unchanged at 45s Id. Union of Australia eased 6d to £7 14s 6d, sellers £7 17s. Commercial of Australia wore a point better at 14s 4d. Gas shares were again in strong domand at firm rates. Queensland Insurance firmed 6d to 495, sellers easing to 50s. South British had a sale at 565, and more were wanted at that price. Gear Meate had a bid at 31s, sellers staying at 325. Miscellaneous shares were again in good demand. British Tobaccos eased 3d to 31s, and Burns. Philp were 6d down at 43s 6d. Colonial Sugars were 2s 6d bettor at £46 2s 6d, sellers staying at £4B. Eloetrolytio Zinc preference were 3d up at 25s 6d and Henry Jones Co-op. gained similarly at 34s 3d. Goldmining shares were again very active and mostly firmer. Alexanders were wanted at 21s 6d, and Blackwaters gained 6d at 20s, sellers staying out. Waihis were 2d bettor at 18s 9d. King Solomons were firm on a sale at 2s 2d, as were Waihi Grand Junction at 3e 6d, and Nokomai at 6s sd.

YESTERDAY’S QUOTATIONS.

Buying and selling quotations at yesterday’s final call on the Wellington Stock Exchange were as follow

1932. Dec. 2 —Auckland ... Bales. 25,000 Dec. 6—Napier 30,000 Dec. 19—Wellington 30,000 Dec. 14—Christchurch 25,000 Dec. 16 —Timaru 10,000 Dec. 20 —Dunedin 25,000 1933. Jan. 6—Wellington 30,000 Jan. 11—Napier 30,000 Jan. 16 —Wanganui 30,000 Jan. 20—Auckland 30,000 Jan. 25 —Clirislchurch 25,000 Jan. 30 —Dunedin 30,000 Feb. 2 —Invercargill 30,000 Feb. 6—Timaru 20,000 Feb. 10 —Wellington 30,000 Fbb. 14 —Napier 25,000 Feb. 17—Wanganui 30,000 Feb. 23—Christchurch 25,000 Feb. 28—Dunedin 30,000 Mar. 3 —-Invercargill no limit Mar. 9 —Wellington 30,000' Mar. 13—Napier 25,000 Mar. 17 —Auckland no limit Mar. 23 —Christchurch no limit Mar. 27—Dunedin no limit Mar. 29—Timaru no limit Apr. 3—Wellington no limit Apr. 6—Napier no limit Apr. 10—Wanganui no limit

The following shipments of dairy pro; duco have been made from New Zealand by vessels sailing finally as under BUTTER (In Tons). 1/8/32 1/8/31 to Oct., to 1932. 31/10/32. 1931. 31/10/31 London 9,227 20,310 6,122 15,379 Avonraouth & Cardiff 654 1,058 264 497 Liverpool 709 1,124 372 558 Manchester ... 835 1,508 261 402 Glasgow 713 1,153 293 555 Canada < — 221 — — Honolulu 12 33 27 59 Panama 17 141 14 56 Other countries 3b 108 27 87

1/8/32 1/8/31 to Oct., to London 1932. 31/10/32. 3,866 12,523 1931. 31/10/31 4,011 8,766 Avonmouth 141 300 and Cardiff 183 285 Liverpool 168 281 166 234 220 320 166 287 Glasgow 213 291 177 320 Other countries 8 22 4 13

Butter. Cheese. Tons. 'Ions. In October, 1932 9,891 394 In October, 1931 7,841 301 Totals— Aug. 1 to Oct. 31, 1935 21,444 1,052 Aug. 1 to Oct. 31, 1931 16,965 838 BUTTER SHIPMENTS FROM ARGENTINE. 1932. 1931. Tons. Tons. Aug. 1 to Oct. 31 2,280 2,629 Shipments in October ... 935 1,533 TOTAL BUTTER SHIPMENTS TO UNITED KINGDOM. (In tons.) ArgonN.Z. Aust. tine. Total Oct.. 1932 12,138 9,981 935 23,054 Oct., 1931 7,312 7,814 1,533 16,686 BRITAIN’S IMPORTS. Imports into Great Britain from all sources for the month were as follow: — BUTTER. OCTOBER. 1932. 1931. 1930. Tons. Tons. Tons. Russia 2,945 3,140 1,000 Finland 846 1.076 960 Esthonia 250 794 — Sweden 683 844 1,048 Denmark 10.694 11,227 10,577 Netherlands 199 370 341 Argentine 1,095 816 1,176 Irish Free State 1,939 2,177 2,880 Australia 5,396 5,685 2,702 New Zealand 3,068 4,424 3,715 Other countries 1,011 1,494 1,376 Total 28,026 32,047 25,775 TEN MONTHS ENDED OCT. 31st. 1932. 1931. 1950. Tons. Tons. Tons. Russia 15.845 16,730 7,375 Finland 9,631 10,826 10,386 Esthonia 4,035 5,917 — Swodon 7,800 9,235 12,406 Denmark 109,267 104,586 97,577 Netherlands 1,985 4,412 4,023 Argentine 17,169 14,303 16,200 Irish Freo State 15,025 17,789 24,635 Australia 67,361 60,608 35,805 New Zealand 84,511 77,387 62,791 Other countries ..£... 13,884 12,739 14,128 Total 346,513 334,532 285,326 CHEESE. OCTOBER. 1932. 1931. 1930. Tons. Tons. Tons. Netherlands 635 622 817 Italy :. 388 502 688 Australia 128 219 244 New Zealand 2,234 3,022 1,429 Canada 6,289 9,263 7,418 Other countries 268 292 386 Total 9,942 13,920 10,982 1932. 1931. 1930. Tons. Tons. Tons. TEN MONTHS ENDED OCT. 31st. Netherlands 7,282 6,462 7,552 Italy 4,598 5,400 5,965 Australia 2,39u 2,734 1,313 New Zealand 77,939 75,748 82,516 Canada 29,250 24,883 23,977 Other countries 2,433 3,444 4,236 Total 123,892 118,671 126,059 RE-EXPORTS. Re-exports of butter from the United Kingdom during October, 1932, were as follows (figures for the same month in 1931 being stated in brackets): —To Germany, — (5 tons); Belgium, 16 tons (223) ; Irish Free State, 5 (5) ; Switzerland, — ( —) ; Netherlands, 1 (167); France, 12 (408) ; Canada 53 ( —); other countries, 139 (100). Total, 226 tons (906). LONDON PRICES. LondQn Prices have been: — October, 1932. Cheese. Butter. White. Col’d. First week ... 106s-116s 65s-66s 59s-61s Second week . 110s-112s 65s-66s 59s-61s Third week ... 102s-110s 64s-65s 59s-6Cs Fourth week . 96s-106s 66s-67s 59s-61s October, 1931. . Cheese. Butter. White. Col’d. First week ... 118s-122s 69s-70s 69s-70s Second .week . 114s-120s 66s-68s 67s-69s Third week ... 114s-120s 65s-67s 65s-67s Fourth week . 114s-120s 68s-69s 68s-69s DELIVERIES EX COLD STORES. Oct., 1932. Oct., 1931. But- Buttor. Cheese, ter. Cheese Tons. Tons. Tons. Tons. 1st week 1,146 1,235 860 770 2nd week 937 1,087 1,000 718 3rd week 1,100 980 1,400 734 4th week 970 977 1,350 1,079 4,153 4,279 4,610 3,301 Aug. -Sept. total 11,966 10,935 12,296 12,383 Total— Aug. 1-Oct. 31 16,119 15.214 16,906 15,684 CANADIAN AND U.S.A. STOCKS. CANADA. The following are the stocks of butter and cheese held in Canada at November 1: — 1932. 1931. 1930. Tons. Tons. -r ons. Butter 13,919 16,518 14,831 Cheese 9,117 6,381 11,035 Taking into account Canadian cheese both in Canada and United Kingdom, the position shows: — 1932. 1931. 1930. Tons. Tons. Tons. In Canada 9,117 6,381 11,033 U.K 7,166 11,500 10,360 16,283 17,881 21,383 UNITED STATES. Tho following are the stocks of butteg and cheese held in tho United States at November 1: — 1932. 1931. 1930. Tons. Tons. Tons. Butter 29,801 25,073 48,920 Cheese 29,824 28,603 35,245 STOCKS OF BUTTER AND CHEESE. The Dairy Board reports that tho position of stocks of butter and cheese as at November 1 was as follow: — BUTTER, 1932. 1931. 1930. Tons. Tons. Tons. Estimated stocks of all butters in London including private and provincial stores and steamers not discharged 18,700 16,700 17,100 Stocks in N.Z, mcluding loaded into

steamers not sailed finally at Nov. 1 ... 9,400 N.Z. stocks afloat ... 14,892 9,200 10,755 6,350 10,186 24,292 19,955 16,536 CHEESE. Estimated stocks at London, Bristol: — 1932. 'Ions. N.Z. and Australian* 2,014 Canadian 7,166 Liverpool and 1931. 1930. '1 oils. '1 Oils. 3,200 3,147 11,500 10,350 9,180 14,700 13,497 Stocks in N.Z. inc. steamers not sailed finally at Nov. 1 ... 8,900 N.Z. stocks afloat ... 6,793 7,550 5,243 7,357 7,206 15,693 12,793 14,563 Total in sight 24,873 27,493 28,060 ‘Includes ships arrived up to Sept. 30. STOCK MARKET. ADDINGTON SALE. FAT LAMBS HIGHER THAN SCHEDULE.

Buyers. Sellers. N.Z. GOVT. LOANS— £ s. . d. £ e. d. 4£ p.c. Bonds, 1938 ... — 96 10 0 5£ p.c. ditto, Feb, 1937 — 100 7 6 5£ p.c. ditto, Sep. 1937 — 100 0 0 4i p.c. Stock, 1938 ... — 96 5 0 5& p.c. ditto, 1933 — 100 10 0 5£ p.c. ditto, 1936 — 100 2 6 5| p.c. ditto, Feb, 1937 — 100 2 6 5£ p.c. ditto, Sep, 1937 — 100 0 0 5| p.c. ditto, 1934 — 99 0 0 5A p.c. ditto, 1937 — 96 15 0 DEBENTURES— Well. Harb. Bd., 5A p.c., 1940 99 10 0 — Chch. Drainage, 5A p.c., 1965 — 97 15 0 Palmerston N., 6 p.c., 1946 — 100 0 0 Makerua Drainage, 6 p.c., 1946 — 98 10 0 Well. Gas Co 99 0 0 — BANKS— Australasia 9 10 0 — Comm, of Aust., ord. 0 14 4 0 14 7 E.S. and A *4 4 4 0 — National of N.Z 5 14 0 3 17 0 Nat. of Australasia, £10 paid *10 15 0 — Ditto. £5 paid *5 5 0 — 0 29 0 0 New Zealand *2 1 2 5 8 Ditto, long term 1 9 0 — 0 Union of Aust 7 14 6 7 17 FINANCIAL— Equitable Building ... — 4 15 0 Goldsbrough, Mort ... 1 2 0 1 2 9 N.Z. Guar. Corp., ord. — 0 5 4 N.Z. Invest., Mort. and Deposit 0 7 6 0 8 0 N.Z. Loan and Merc. — 57 0 0 Well. Dep. and Mort. — 0 8 0 GASAuckland, contrib. ... 0 15 0 — Ditto, ord 1 1 0 — Wellington, ord 1 9 3 1 10 0 Ditto, pref 0 18 6 — Timaru 0 13 6 0 17 6 INSURANCE— Queensland 2 9 0 2 10 0 Now Zealand — 2 3 6 South British 2 16 0 2 16 6 MEAT PRESERVING— Gear 1 11 0 1 12 0 N.Z. Refrig., 10s pd. 0 3 1 — TRANSPORT— Huddart, Parker, pref 0 18 6 — Union Steam, pref. ... 1 0 8 — WOOLLEN— Wellington, ord 5 0 0 5 5 0 TIMBER— Leyland-O’Brien — +1 0 6 National — 0 7 0 Taringamutu — 0 5 0 BREWERIES— N.Z. . Breweries — 1 6 9 Staples — 1 3 6 MISCELLANEOUS— British Tobacco, ord. 1 11 0 1 12 0 Burns, Philp 2 3 0 — 0 Colonial Sugar 46 2 6 48 0 Dental and Medical ... — 0 6 6 Dunlop Perdriau 0 15 0 0 16 0 Electro. Zinc, ord. ... 0 15 4 — Ditto, pref. 1 5 6 1 5 11 Henry Jones Co-op. ... *1 14 3 1 16 6 National Electric — 0 10 0 N.Z. Drug 2 18 Wilson’s Cement — 6 3 0 0 *1 12 0 Woolworths, prof. ...:.. ' — 1 8 3 OIL- . . Moturoa, ord 0 3 9 0 4 3 Taranaki 0 2 0 — MINING— Alexander 1 1 6 — Blackwater 1 0 0 — 0 Consol. Goldfields — 0 0 10 Golden Dawn 0 5 0 2 King Solomon 0 2 1 3 Mount Lyell *1 0 0 — Paddy’s Point 0 5 5 — Waihi 0 18 9 0 18 11 AVaihi Grand Junction 0 3 6 0 3 7 Big River — 0 1 6 Nokomai 0 6 4 0 6 5 *Cum. dividend. +Ex dividend.