FARMING AND COMMERCIAL

Manawatu Standard, Volume LII, Issue 308, 26 November 1932, Page 5

FARMING AND COMMERCIAL

FEILDING STOCK SALE

SMALL YARDING. NO CHANGE IN PRICES. There was a very small entry in all sections of the sale at Feilding yesterday, the attendance of farmers also being one of the smallest seen at the sale for some time. For fat sheep the short supply caused a slight rise in values, ewes being the offer-, ings mostly affected, the others selling at very much the same rates as prevailed at recent sales. In the store sheep pens only three lines were sold, the balance of the offerings failing to reach' the reserve. The fat cattle entered were not in the best of condition and only made late rates, while for store stock there was .a dull market. Little or no change was registered in dairy stock quotations, many - lines in_ a light entry being passed in. The following are the detailed prices: B’at sheep.— Ewes, 2s 9d, 3s 10d, 4s, 5s 9d, 6s 6d, 7s 4d; maiden ewes, 7s 6d; hoggets, 6s, 7s 6d, 10s 5d to 11s Id; wethers, 6s 9d, 7s 4d to 10s 6d. Store sheep.—Ewes and lambs, 13s 3d; woolly cull ewes, 3s 6d, 3s 9d. Store cattle. —Yearling P.A. steers, 20s, 33s 6d, 345; yearling Jersey heifers, 12s 6d, £2 10s to £2 18s; cows, 15s to 18s; cows and calves, £2 9s; heifers r.w.b., 30s. Fat cattle.—Cows, 21s, 245, 375, £2 Is, £2 ss, £2 16s, £3 15s to £4; heifers, £4 2s, £4 6s to £4 10s.

Dairy cattle.—Heifers r.w.b., £3, £3 7s, £3 12s 6d, £4, £4 10s to £5 ss: heifers in milk, £1 ss, £2, £2 5s to £2 10s; cows in milk, £1 to £2 10s; springing cows, £5 2s 6d.

The above sale was the last one to be held under the aegis of the Associated Livestock Auctioneers, Ltd., which body from tho end of the present month ceases operations. Next Friday the sale will be resumed under the old order of control by which each live stock company operating in the Feilding yards will handle the stock of its own clients. AUCTIONEERS’ REPORT. Associated Live Stock Auctioneers, Ltd., report the Feilding sale as follows: A moderate entry of all classes of stock came forward at this fixture. There was little alteration in prices, with the exception of beef, which showed a slight rise in value on last week’s quotations. We quote as follows :—Shorn wethers (light) 6s 9d, 7s 4d to 10s 6d; shorn hoggets, 10s sd, 10s 8d to 11s Id; fat shorn ewes, 4s, 5s Bd, 5s 9d, 6s 4d, 6s lid, 7s 4d to 7s lOd. Store sheep: Ewes with b.r. lambs at foot to 13s 3d; empty ewes, 3s 6d to 3s 9d. Cattle: Fat station heifers, £4 2s, £4 6s, £4 7s, £4 10s; fat station cows, £3 7s, £3 15s to £4; fat dairy sorts, 17s 6d, £1 17s, £2 Is, £2 5s to £2 16s. Store cattle: Yearling P.A. steers, £1 to £1 3s; yearling Jersey heifers, £2, £2 10s. to £2 18s; cows and calves, £2 9s; store cows, 12s, 15s, 17a to 18s. Dairy cattle: Springing £2 10s, £3, £3 7s, £3 12s 6d, £3 15s, £4, £4 ss, to. £4 10s; springing cows, £2 10s, £5 to £5 2s 6d; 2-yr. Jersey bulls, £2 7s 6d, £3 ss, to 3 103; yearling Jersey bulls £l. FEILDING MART. Prices at the mart in Feilding yesterday were as under: —Poultry: Hens, Is to Is 4d; cockerels, Is 3d to 2s 9d; ducks, Is to Is 4d; drakes, Is to Is 6d; young ducks, 3s 3d to 3s 7d; ducklings, 8d each; young cockerels, 2s to 3s per dozen; 1 hen and 10 chicks, 6s; Turkey gobblers, 10s 6d; geese, 2s 3d. Pigs.—Weaners, 8s to 13s 6d; slips, 11s 6d to 16s; stores. 14s 6d to £1 3s; porkers, 21s 6d to 24s 6d; boar, 15s. DAIRY PRODUCE. MARKET REPORTS. J. arid .T. Lonsdale and Co., Ltd., London, report as follow; —Butter: No demand, buyers holding* off in consequence of large quantity afloat. New Zealand and Australian, 84s to 85s per cwt. Cheeso: Market bare of stocks; prices nominal. White, 61s; coloured, 595. Joseph Nathan and Co., Ltd., are in receipt of the following cabled advice from London, dated November 24: —New Zealand butter: Finest, 86s per cwt; first, 85s. New Zealand cheeso: White, 61s to 62s per cwt; coloured, 59s to 60s. Scarco on spot. Cabled advice received from A. J. Mills and Co., Ltd., London, gives the following market prices as ruling at the close of business on Thursday:—Butter: The market is slow. New Zealand, finest 85s to 86s; New Zealand, firsts, 84s to 85s; New Zealand, unsaltod, 98s to 100 s. Danish, 120 s to 1225; Australian, 83s to 85s; Argentine, 76s to 86s; Siberian, 80s to 82s. Cheese: The market is steady. New Zealand, white, 61s; coloured 58s to 595; Canadian, white and coloured, 68s to 695. Events in the dairy produce market appear to be rapidly approaching a climax (says tho Dominion). With a further fall in quotations for New Zealand finest butter, which is now selling in the London market down to the unprecedented level of 88s a cwt., comes the news that the Australian Produce Board is notifying its licensees to withhold 20 per cent, of the butter from shipment to the United Kingdom from December 1. Heavy supplies of butter from all quarters have recently landed on the British markets, and for some weeks values have depreciated unchecked. The quantities afloat from both Australia and New Zealand and duo to arrive in Britain till the end of January are thousands of tons more than at this time last year.

FARMING NEWS. RURAL RAKINGS. In the awards of the wool section at the Canterbury Agricultural and Pastoral Association’s Show, which were just completed this weok, the naino of an Otago exhibitor • appears in the Romney Marsh class. This is Mr Eric Shirley, of Clinton, who was placed first, second, and third in the class with three lots of wool, the counts being 48, 48-46, and 48-50. The judges remarked on the excellent quality of tho fleeces and the fine handling quality of tho wool. , Commenting on last year’s lamb export and the North Island figures to date, tho Christchurch Press says the average weight of lambs last year was below the average over a number of seasons —on that of the preceding season approximately lilb. Last season 8,804,889 lambs were exported. Tho matter of lilb per carcass on this number totals 11,000,0001 b, or the equivalent of 525,000 341 b lambs. This, in addition to the’ 300,000 increase probable as a result of the higher lambing percentages, is likely to increase the export in weight by the equivalent of 625,000 341 b carcasses. BRADFORD TOPS MARKET. Wright, Stephenson and Co., Ltd., and Abraham and Williams, Ltd., report having rccievod advice from their Bradford agents with regard to the tops market, reading as follows Merinos have advanced id. Fine crossbreds are firm, while medium and coarse crossbreds are steady. Topmakers are protecting themselves during the course of London sales. BASE METALS. SYDNEY. Nov. 25. The official London (middle) quota',■■■ns for Thursday as received by the Australian’ Mines and Metals Association compare as follow with those previouslv cabled:

WELLINGTON STOCK EXCHANGE,

YESTERDAY’S BUSINESS AND PRICES. Oustanding features in the stock and share market yesterday wore tho slackening demand, with again an entire absence of inquiry for Government securities, ajid tho strong selling movement. There was a distinctly weaker tono in tho market. Tho prevailing opinion is that recent statements regarding inerost rates have had an unsettling effect upon investors, notably in regard to Government securities. There was no bids for those yesterday, and tho numerous sellers lowered their offers appreciably. There was a fair demand for banks, prices in several cases being easier. Australasians were firm at £9 ss, sellers £lO. Commercial of Australia were a point bettor at 14s 4d. E.S. and A. Bank eased Is to 83s, New Zealand long term were Is lower at 28s, and Union of Australia recoded 3s to £7 11s, sellers Is lower at £7 16s. Little demand existed for financial, insurance, meat, shipping, woollen or timber shares. Sellers of South British Insurance eased 3d at 55s 9d. Following tho interim dividend announcement, Now Zealand Breweries weakened to 25s 3d, sellers staying at 26s 6d. British Tobaccos were firmer on a sale at 31s 6d, with late buyers at 31s 4d. Colonial Sugars recovered 5s at £46 ss, sellers staying at £4B. There was a slightly loss active inquiry for gold mining shares, but prices held firm.

YESTERDAY’S QUOTATIONS. Buying and selling quotations at yesterday’s final call on the Wellington Stock

YESTERDAY’S SALES. The following sales were recorded on the stock exchangee of the Dominion yestCWeilington.—Sales reported : British Tobacco, £1 Us 6d; N.Z. Refrigerating, 10s paid, 3s 3d*. (*Late sale Thursday). Auckland. —Govt. Bonds, 4i pm., 1958, £95: 5i p.c., Feb., 1937, £99 Rte; Commercial Bank of Australia, 14a 4d; Timaru Brewery, con., 3s 6d; .Union Oil, £1 4s, Golden Dawn, 5s 3d; King Solomon, 2s 3d, Waihi (2), 19s. , Q „ Christchurch. —Infer. Stock, 5 Z p.c., 1933 (2) £100; Nat. Bank of Australasia, £5 paid, cum. div. (2), £5 12s; WestportStockton Coal, ord., 6d; Brew ®^' cum. div. £1 11s 8d; British Tobacco (2), £1 Us; Big River, Is lid; Alexander, contr. £1 2s; Golden Dawn (2),.5e Id, (4) ss; Mahakipawa, 3id; Nokomai, 6s sd, 6s 4d. Sales reported: British Tobacco, £1 11s sa, Electro. Zinc, ord., 16e; Woolworths (N.Z.), pref., £1 7s 3d.

(MONEY MARKET. BANK OF ENGLAND RETURNS. LONDON, Nov. 24. The following is the Bank of England return: — ISSUE DEPARTMENT. Note issue in circulation Banking department ■■ 50,574,622 £414,422,094 securities ... 253,990,486 Silver co?n rities ffiga Gold coin and bullion 139,422,094 £414,422,094 BANKING DEPARTMENT. Proprietors’ capital Rost 6,22 1, 9(8 Public deposits 26,531,015 Other deposits, banks 78,081,780 Other accounts 33,742,006 Seven day and other bills 3510 £156,139,351 Securities — £ Government Discounts and advances 11,958,451 Othor securities 18,020,933 Notes : 55,574,622 Gold and silver coin 1,003,605 £156,139,351 Proportion of reserve to liabilities 41:6 per cent., short loans 3 per cent; three months’ bills 31-32 per cent.

GOVERNMENT STOCKS

LONDON MARKET EASIER.

LONDON, Nov. 24. Quotations of Government stocks on the London Stock Exchange compare with those of a week ago as follow:

Nov. 23. Nov. 24. Fer ton. Fer ton. CopperStandard. spot £ 31 s. d. 18 9 £ «. 31 10 d 7i forward 314 4 4i 32 6 3 "Electrolytic to 36 37 10 5 0 0 36 5 37 5 0 0 Wire bars 37 5 0 37 5 0 Lead— 11 15 0 11 12 6 Forward Spelter— 12 1 3 12 0 0 15 6 3 15 1 3 Forward 15 10 0 15 5 0 152 13 9 152 0 0 TinForward 154 2 6 153 2 6 Silver — Standard, per oz .. 18Ad 18 3-16d Fine, per oz 19 9-16d 19 5-ocl ‘American, 5.37 cents, a lb. +American. 22.30 cents i a lb.

Exchange were as follow Buyers. Sobers. N.Z. GOVT. LOANS— s d £ s. d. p.c. Bonds, 1941 ... — 96 10 0 4£ p.c. ditto, 1939 — 96 10 0 44 p.c. ditto, 1938 — 95 10 U 4£ p.c. Stock, 1939 ... — 96 5 0 4£ p.c. ditto, 1938 — 95 10 0 5j p.c. ditto, 1936 — 98 10 0 5£ p.c. ditto, Sep, 1937 — 99 0 0 p.c. ditto, 1937 , 96 5 0 p.c. ditto, 1934 DEBENTURES— — 98 15 0 Auck. City, 5s p.c., 1944 Chch. City, 5£ p.c., 97 0 0 - 1944 Dunedin City, 5£ p.c., 97 0 0 1944 97 0 0 — Well. City 54 p.c., 1940 98 0 0 — Well. Harbour Bd., 54 p.c., 1940 Makerua Drainage, 6 p.c., 1946 Palmerston N., 6 p.c., 99 0 0 98 10 0 1945 LOO 0 0 Chch. Drainage, 5a p.c 97 15 0 1965 Well. Gas Co 99 0 0 — Well. Racing Club ... BANKS— — 93 0 0 Australasia 9 5 0 10 0 0 Comm, of Aust., ord. U 14 4 0 14 7 E.S. and A *4 3 0 Nat. of Australasia, £10 paid ‘10 15 0 — Ditto, £5 paid *5 10 0 — New Zealapd — *2 5 9 Ditto, long term 1 8 0 1 9 6 Union 7 11 0 7 16 0 FINANCIAL— 4 15 0 Equitable Building ... — Goldsbrough, Mort ... — 1 2 6 N.Z. Guar. Corp., ord — 0 5 b N.Z. Invest., Mort. and Deposit 0 7 3 0 8 0 Loan and Mercantile GAS53 0 0 1 4 6 1 5 6 Wellington, ord 1 9 0 1 10 0 Ditto, pref 0 18 3 — 0 13 6 0 18 0 INSURANCE— South British — 2 15 9 MEAT PRESERVING— 1 11 6 N.Z. Ref rig., 10s paid TRANSPORT— 0 3 3 3 0 3 4 Huddart, Parker, pref. 0 18 — Union Steam, pref. ... WOOLLEN— ' 1 0 8 Wellington, ord TIMBER— 5 6 +1 1 6 0 Leyland-O’Brien — National 0 4 0 0 6 0 0 5 BREWERIES — N.Z. Breweries — 1 6 6 1 3 6 MISCELLANEOUS— i ii British Tobacco, ord. 1 11 4 8 Colonial Sugar 46 5 0 48 0 0 Dental and Medical ... — 0 6 b Electro. Zinc, prof. ... 1 5 b 1 5 9 Henry Jones Co-op. ... *1 14 3 N.Z. Drug Wilson’s Cement — 3 0 — Woolworths, pref — 1’ 7 9 OIL— 0 2 0 — MINING— 0 10 0 Consol. Goldfields — Golden Dawn 0 5 0 — King Solomon 0 2 0 0 2 3 Mount Lyell — Paddy’s Point 0 b 0 18 5 6 0 19 0 Big River 0 6 3 0 1 0 6 4 4 *Cum. dividend. +Ex dividend.

Price. Variation. £ 8 d £ s d Consols, 24 p.c 74 0 0 0 10 0* Fund. Loan, 4, 1960-90 106 10 0 0 10 0* War Loan. 5, 1929-47 102 7 6 Same Ditto, assented 97 10 0 0 10 0* Convert. Loan, 34 p.c. 99 0 0 0 15 0* Victory Bonds, 4 p.c. 106 0 0 1 0 0* C’wealth, 5, 1945-75 .. 103 0 0 1 2 '6* CT wealth, 6, 1931-41 ... 101 0 0 0 2 6+ C’wealth, 3s, 1956-37 ... 98 12 6 0 3 9* Victoria, 3, 1929-49 ... 83 10 0 2 5 0* Victoria, 34. 1929-49 .. 89 15 0 1 15 0* Victoria, 5j, 1930-40 .. 100 0 0 0 2 6* Victoria, 5, 1932-42 .. 99 12 6 0 7 6* Victoria, 43, 1940-60 ... 99 15 0 1 15 0* N.S.W., 34, 1930-50 ... 90 0 0 1 10 0* N.S.W., 4, 1933 101 1 3 0 3 9* N.S.W., 3, 1935 96 7 6 0 12 6* N.S.W., 64, 1930-40 .. 101 15 0 Same N.S.W., 6, 1930-40 ... 99 17 6 0 7 6’ Q’land, 5, 1940-60 ... 100 10 0 1 7 6* Q’land, 3, 1922-47 ... 83 10 0 0 17 6* Q’land, 6, 1930-40 101 10 0 0 2 6* N.Z., 44, 1948-58 105 5 0 1 17 6* N.Z., 34, 1940 96 0 0 2 7 6* N.Z., 3, 1945 89 15 0 1 15 0* N.Z.. 6, 1936-51 105 15 0 0 15 0* S. A ust., 34, 1939 97 15 0 1 2 6* S. Aust., 1916/after ... 76 10 0 0 10 0* S. Aust., 64, 1930-40 ... 102 0 0 0 2 6+ Tasm., 34, 1920-40 ... 97 15 0 0 10 0* Tasm., 3, 1920-40 94 0 0 Same Tasm., 64, 19-30-40 ... 102 0 0 0 10 0’ W. Aust., 34, 1920-35 97 15 0 1 15 0* W. Aust.. 3, 1915-35 ... 95 5 0 2 2 6* W. Aust.. 6. 1930-40 102 0 0 0 5 OP t Higher. ‘Lower.