FARMING AND COMMERCIAL

Manawatu Standard, Volume LIII, Issue 14, 14 December 1932, Page 5

FARMING AND COMMERCIAL

dairy produce markets. LONDON QUOTATIONS. Another decline in the London butter market has taken place this week, and the prices of New Zealand have fallen to a new record low level of 83s for finest and 82s for first grade. The cheese market is also weak, and prices have fallen by Is to 2s a cwt. since Friday. Joseph Nathan and Co., Ltd., have received the following cable from London dated Decembor 12:—New Zealand butter, 82s_ to 83s per cwt; New Zealand cheese, white 565, coloured 58s. Both markets weak. QUALITY OF CANTERBURY LAMB. MORE ATTENTION TO BREEDING NEEDED. Per Press Association. CHRISTCHURCH, Dec. 13. Tile annual general meeting of the Canterbury Frozen Meat Company was held to-day, Mr John Deans, chairman of directors, presiding. Mr Deans in moving the adoption of the annual report said his recent visit to London had confirmed his opinion that in order to maintain the reputation built up for Canterbury lamb in the past they must pay far more attention to the breoding of lambs for export. Far too many badly shaped, poorly covered carcases were being exported, and Smithfield opinion was that the quality of Canterbury lamb had gone back in the past few years. The annual report, which provided for a dividend of 6 per cent, on preference shares and 5 per cent, on ordinary shares, was adopted. Messrs Herbert Eiworthy and John Grigg were re-elected on the directorate. SYDNEY WOOL SALES. STRONG COMPETITION. SYDNEY, Dec. 13. At the wool sales to-day, 11,948 bales were offered, of which 11,338 were sold at auction, 1314 being disposed of privately. There was strong competition, especially from Japan and the Continent. The market was very firm. Greasy Merino made up to 16 3-4 d.

Following are the monthly average prices for wool realised in Sydney from July to November inclusive, per bale and per lb., and for the period :

FARMING NEWS.

RURAL RAK3NGS. A fox has been responsible for the death of 40 sheep on a holding in the Bellata district, in New South Wales. The owner of the holding was attracted by the stationary attitudo of a particularly well-con-ditioned ewe on two successive days, and when he examined it found that its tongue had been bitten off. The ewe later died. Since then the fox had killed 40 sheep by tearing out their tongues. Attempts to trap or kill the fox have failed. How high can a rabbit jump? One North Island farmer settled this auestion to his own satisfaction recently when ho gave chaso to a rabbit which headed for a “rabbit-proof” netting fence along his boundary. Nearing the fence the rabbit “took off” like the champion hunter at an A. and P. show • and cleared three feet of netting without touching tho top. According to this settler, his netting fence has not been a success. It puzzled the rabbits for the first few weeks, but now they regard it with contempt.

WELLINGTON STOCK EXCHANGE. YESTERDAY’S BUSINESS AND PRICES. A feature of tho Wellington stock and sharo market yesterday was an active buying movement in Government securities, quoted bids showing a slight firming on lato rates. The 4 2 per conts., 1939 and 1938, were wanted at £92 15s, a rise of 5s on Monday’s quotations, and a sale late on Monday was reported at that price. Tho 5j per cent, bonds, February, 1937, and tho 5i per cent, stocks, September, 1937, were reported sold at £9B. Five per cent, tax free bonds, 1937, were sought at £96 ss. Local body debentures continued out of favour. Banks were again a weak market. Australasias eased to £8 7s 6d, sellers lowering their prico 2s to £8 18s. Commercial of Australia were weak at 13s 4d, sellers 13s Bd. New Zealands lost Is 3d at 40s 3d, sellers coming down 9d to 41s 9d. The other sections of tho market held vory little interest for investors, but there were sobers aplenty. Goldsbrough, Morts were weak at 20s 4d. South British eased to 525, sellers 53s 3d. Gear* 31 rats were again offering at 275. New Zealand Refrigerating, £1 paid, wero 6d up at 9s 6d, and the 10s paid gained Id at 2s lid. Union Steam, preteronce, were 4d down at 20s 3d. New Zealand Breweries regained another 3d at 25s 6d, sobers easing to 26s 3d. Woolworths (N.Z.) preference firmed 6d to 28s, sellers moving up to 30s. Taranaki Oils wero easy at 16 7d. There was a quieter tone in goldmining shares, the only inquiry being for King Solomons at 2s 3d, Okaritos at Bs, Paddy’s Point at 4s 9d, and Nokomai at 6s. YESTERDAY’S QUOTATIONS.

*Cum. dividend. +Ex dividend.

SYDNEY STOCK EXCHANGE. SYDNEY, Dec. 13. Stock exchange morning sales: —' Bonds, 4 per cent., 19381 £103; 1941, £lOl 2s 6d; 1944, £lOl 15s; 1955, £lO3 2s 6d; 1957, £lOl 12s 6d, 1959, £102; New Zealand debentures, 5§ per cent, 1937, £105; National Bank, £ll 15s; Bank of New South Wales, £3O 12s 6d; Austral Glass, 43s 3d; Broken Hill Proprietary, 25s 10^d. PUICEKOHE ONIONS. HARVESTING COMMENCED. PUKEKOHE, Dec. 13. The first of the new season’s Pukekohe onions have been harvested and marketed, but at present there appears to be no demand for them. The onion markets are oversuppliod with Canadian onions, which are soiling at well below cost. One Puekohd firm of merchants had offered local onions at £9 a ton, but the response by way of orders was negligible. Pukekohe onions, due to the favourable season, are about three weeks earlier than usual, and are coming forward before the last season’s onions have boon disposed of. Some time ago there was an acute shortage of New Zealand onions, and merchants were compelled to obtain requirements overseas. The prospects for this season’s onions are far from bright.

A shipment of 20 Romney ewe hoggets and a Southdown stud ram hoggot was mado recently from Auckland to Singapore, via Sydney, following inquiries mado by Malay settlers through tho representative of the Now Zealand Government at Singapore.

PER BALE. Greasy. £ s. d. Scoured. £ s. d. July 6 15 0 13 5 5 August 10 15 3 13 13 3 September 11 19 4 12 19 11 October 11 7 2 14 4 4 November 10 15 1 12 14 1 Five months’ totals PER 11 5 6 LB. Greasy, d. 13 6 8 Scoured. d. July 4.9 13.6 August 8.0 14.0 September 8.9 13.0 October 8.5 14.3 November 8.1 12.9 5 months’ total 8.4 13.5

Buying and selling quotations at yesterday s linal call on the Wellington {Stock Exchange were as follow: — Buyers. Sellers. N.Z. GOVT. LOANS— £ a. d. £ s. d. 4j p.c. Bonds, 1939 ... 92 15 0 — 44 p.c. ditto, 1938 92 15 0 — 5i p.c. ditto, Bob, 1937 98 0 0 — 54 p.c. ditto, Sep, 1937 97 15 0 98 10 0 p.c. ditto, 1937 95 5 0 — 6 p.c. ditto, tax free 1937 96 5 0 — 4i p.c? Stock, 1939 ... 92 15 0 — 4A p.c. ditto, 1938 92.15 0 — 5£ p.c. ditto, Feb, 1937 97 15 0 98 5 0 54 n.c. ditto, Sep, 1937 97 15 0 — 5i p.c. ditto, 1933 — 99 10 0 p.c. ditto, 1937 95 7 6 — DEBENTURES— Palmerston N. 6 p.o., 1945 — 99 5 0 Makerua Drainage, 6 p.c., 1946 — 94 10 0 Christchurch llrainago, 54 p.c., 1965 — 97 10 0 Waitomo E.F. Bd., 6 p.c.. 1961 — 99 10 0 Well. City & Sub. Highways, 5i p.c., 1943 — 96 15 0 Wellington Gan Co. ... 99 5 0 — BANKS — Australasia 8 7 6 8 18 0 Comm, of Aust., ord. 0 13 4 0 13 8 National of Australasia, £10 paid 10 5 0 — New South Wales ... — 27 5 0 New Zealand |2 0 6 2 1 9 Union of Aust — 7 5 0 FINANCIAL— Equitable Building ... — 4 0 0 Goldsbrough, Mort ... 1 0 4 — National Mortgage ... — 1 10 0 N.Z. Loan and Merc. — 51 0 0 N.Z. and River Plate — 1 2 0 Well. Trust and Loan — 4 17 6 Well. Dep. and Mort. — 0 7 9 GAS— Wellington, ord 1 9 0 1 10 0 Ditto, pref *0 18 3 — INSURANCE— Aust. Prov. As6ce. ... 0 5 0 0 6 9 National — 0 14 3 South British 2 12 0 2 13 3 MEAT PRESERVING— Gear — 1 7 0 N.Z. Refrig., £1 paid 0 9 6 — Ditto, IO5 paid 0 2 11 — TRANSPORT— Union Steam, pref. ... 1 0 3 — WOOLLEN— Wellington, ord — 5 6 6 COADWestport 0 10 0 — TIMBER— Bartholomew — 0 12 0 Leyland-O’Brien — 1 0 0 National — 0 6 0 Taringamutu — 0 5 0 BREWERIES— Carlton — 1 13 6 N.Z. Breweries *1 5 6 1 6 3 Staples and Co — 1 3 0 Tooth and Co — 1 10 6 MISCELLANEOUS— British Tobacco, ord. — *1 10 0 Burns. Philp — 2 5 0 Colonial Sugar — 47 0 0 National Eloctrio 0 4 0 0 8 0 N.Z. Drug — 3 0 0 Farmers’ Fertiliser ... — 0 15 0 Wilson’s Cement — 1 10 0 Woolworths (N.Z.), pref 1 8 0 1 10 0 OILMoturoa, ord — 0 4 3 Taranaki 0 1 7 — ' 1 IN'ING — Alexander — *1 2 6 Blackwater — *1 2 9 King Solomon 0 2 3 — Mount . Lyell — -0 19 3 Okarito 0 8 0 — Paddy’s Point 0 4 9 — Big River — 0 1 1 Nokomai 0 6 0 0 6 6