FARMING AND COMMERCIAL

Manawatu Standard, Volume LIII, Issue 252, 21 September 1933, Page 5

FARMING AND COMMERCIAL

LONDON WOOL SALE. WELCOME RISE IN CROSSBREDS. STRONG AND ACTIVE DEMAND. The welcome rise in wool prices, particularly of crossbreds, in which New Zealand is chiefly interested, was well in accordance with recent cabled predictions. The latest advance, following that recorded at the London July sales, indicates a promising opening to the Now Zealand wool sales at tho end of November. The following cabled reports of Tuesday’s opening sales in London have boon received: — Bank of New Zealand’s produce department. —The salo opened with strong competition and large attendance of buyers. There is an active demand bv all branches of tho trade. Compared with the close of last series Merino and fine orossbrods are l|d to 2d per lb, medium crossbred Id, and coarse crossbreds ijd to Id, all higher. Bank of New South Wales.—-London wool sales opened 10 per cent, to 15 per cent, all round above last salo’s close. Levin and Co., Ltd.—Tho auctions opened with a largo attendance of Home and Continental buyers. Very good general competition. As at present arranged, tho sales will closo on October 12. Compared with the closing rates of last sale, wo quote: Greasy Merino, best, lid per lb higher; average, lid per lb higher. Finn halfbreds, 50-56’s, lid per lb higher. Halfbreds, 48-50’s, lid per lb higher. Fine crossbreds, 46-48’s, Id per lb higher. Medium crossbreds, 44-46’s, Jd to Id per lb higher. Coarso crossbreds, 40-44’s, jd per lb higher. Low crossbreds, 36-40’s, ad per lb higher. Slipo halfbred lambs, lid per lb higher. Medium and coarso slipos, Id per lb higher. Dalgoty and Company, Ltd.—Sales opened active with good competition, large attendance, average selection. As compared with' closing rates of last series: Greasy Merino, 10 per cent, to 15 per cent, higher. Scoured Merino, 10 per cent, to 15 per cent, higher. _ Greasy fino cross bred, 15 per cent, higher and sometimes more. Greasy medium crossbred, 15 per cent, higher. Greasy coarso crossbred, 10 per cent, higher. Fine slipe, 10 per cent, to 15 per cent, higher. Other sorts slipe, 10 per cent, higher. Wright, Stephenson and Co., Ltd., and Abraham and Williams, Ltd. —Wool sales opened before an average attendance of buyers, among whom competition was animated. Continental and_ Bradford representatives were tho chief operators. A good selection of wool was offered. We quote the following average prices:— Greasy Merino — d 60-64’s yielding 48 per cent 13i Greasy Fine Halfbred—--56-58’s yielding 68 per cent.' 13J Greasy Halfbred—--50-56’s yielding 67 per cent Hi Greasy Three-quarterbrcd—--48-50’s yielding 73 per cent 9 Greasy Fino Crossbred — 46-48’s yielding 74 per cent 7i Greasy Medium Crossbred — 44-46’s yielding 75 per cent 65 Greasy Crossbred—--40-44’s yielding 76 per cent 5? Australian Merino prices were 10 por cent, and sliped prices 10 to 15 por cent, higher. New Zealand Loan and Mercantile Agency Coy., Ltd.—There was a full attendance, competition _by Home and French buyers being active. Tho opening catalogues were representative. As compared with last sale’s closing rates prices are higher Id per lb for medium and coarse greasy crossbred, also medium and coarse crossbred slipe. Prices arc higher Id to lid per lb for coarso and medium scoured crossbred, greasy Merino and fine crossbred slipo. Prices arc higher 2d to por lb for fine scoured crossbred. Prices are higher 2sd to 3d por lb for scoured Merino; also ljd to 2d per lb higher for fine greasy crossbred. Now Zealand Farmers’ Co-operative Distributing Company, Ltd.—Prices compared with last London series show Merinos 15 per cent, up; fine crossbreds, 20 por cent, up; medium and coarse, 10 to 15 per cent, up: slipe, 15 per cent, to 20 por cent, up; medium and coarse, 10 per cent, to 15 per cent. up. .Good attendance and competition. Quantity available, 174,800 bales. SYDNEY SALES. SYDNEY, Sept. 20. At the Sydney wool sales to-day 12,295 bales were offered, of which 11,161 were sold at auction, 2265 being sold privately. All free clips sold readily at full late rates, but buyers showed more discrimination on very burry lines, which were irregular. Greasy Merino sold to 21fd for twelve bales from Bclkta. DAIRY PRODUCE MARKETS. BUTTER STILL FIRM. Joseph Nathan and Co., Ltd., have received from London the following cabled advice, dated September 19: —New Zealand butter: 107 s per cwt. New Zealand cheese: White, 53s 6d per cwt; coloured, 545. The New Zealand Producers’ Co-opera-tive Marketing Association’s weekly cabled market report from London, dated September 19, is as follows:—Butter: Market firm. New Zealand, finest, 106 sto 107 s; first grade, 103 s to 104 s. Cheese: Market steady. New Zealand, white, 535; coloured, 545. FARMING NEWS. RURAL BAKINGS. The United and Riverbank. (Woodville) Dairy Companies are advancing lOd for butterfat supplied during August. Shipments of butter from the Dominion during the month of August totalled 7362 tons, compared with 8171 tons in August, 1932. Shipments of cheese were 6280 tons, compared with 5257 tons in August, 1932. Tho digging of new season’s potatoes on Pukekohe Hill was commenced this week, one grower digging a small patch of about a third of an aero. Regular supplies are not expected until the first week in October.

A week of exceptionally brisk trading has been enjoyed in the Taranaki stock market. Improving overseas market reports have given an added fillip to the buoyant tone that has existed for a few months. More business was transacted during the week than has been the case at this period of tho season for some years. Prices for all classes of fat sheep are still good, and no retrograde movement has taken place. Following on an announcement made by the president, Mr Hugh Morrison, at a meeting of the Wairarapa Provincial Executive of the Farmers’ Union to the effect that it would be possible to obtain a soil analysis of the Wairarapa practically without cost, members of the executive authorised Mr Morrison to endeavour to have a soil survey undertaken in the Wairarapa. The Wheat Research Institute of New Zealand has imported some 2000 varieties in tho past five years from every part of the world in which wheat is grown, in an endeavour to improve the standard of New Zealand wheat. Some have been tried out under New Zealand conditions, with a view to ascertaining their suitability locally; others have provided material for breeding purposes. Wheatgrowers have, in. consequence, been saved the trouble of importing and testing for themselves overseas varieties, while the quality and worth of all new importations have been thoroughly tested by the standards of the institute.

THE STOCK MARKETS. SALE AT ADDINGTON. - FAT SHEEP VALUES RISE. Per Press Association. CHRISTCHURCH, Sept. 20. A further substantial advance in fat sheep values caused by a short supply and a decline in fat cattlo prices through over-supply wore tho features of the Addington market. Store sheep.—The entry was small, the largest proportion consisting of hoggets, which scarcely held late rates; but ewes and lambs sold steadily at late rates. Values: Medium ewe hoggets, to 15s 4d; good wether, 14s 2d to 15s 3d; medium, 12s to 13s; medium m.s., 13s to 15s; ordindary, 10s to 12s; good ewes and lambs (all counted), to 14s 7d; ordinary, 9s 6d to 11s; aged, 6s to 8s; medium s.m., to 16s 9d; young crossbred wethers, to 14s 10 a Spring lambs.—An entry of 110 sold firmly, the prico por pound being 10£d to 10 3-4 d, and the top prico 32s 7d. Fat sheep.—The smaller entry of 3100 head met a keen sale, and the basis of values advanced Is 6d to 2s a head for all classes. Values: Extra, pirime heavy wethers, to 34s 7d; prime heavy, 29s to 31s, mediumweight, 26s to 28s 6d; ordinary, 22s to 25s 6d; light, 19s to 21s 6d; extra prime heavy ewes, to 31s Id; prime heavy, 27s to 295; mediumweight, 24s to 26s 6d; ordinary, 21s to 23s 6d; light, 17s to 20s 6d. Fat catle. —The entry of 378 hoad included 150 head from the southern provinces. Tho market opened firmly, but slipped 10s to £l a head below late rates. Best beef made from 25s to 28s 6d per 100 lb, with a few specially good up to 30s; good, 22s to 265; heavyweight, 19s to 225; medium, 15s to 18s; rough, to 14s. Values were: Show bullock, £ls 7s 6d; extra prime heavy steers, to £l2 12s 6d; prime, £9 to £ll 10s; inodiumweight, £8 5s to £lO ss; ordinary, £6 6s to £8; light, to £5 15s; extra prime heifers, to £ll 7s 6d; prime, £6 15s to £8 10s; medium, £4 15 s to £6 ss; light, to £4'los; extra prime cows, to £9 7s 6d; prime, £5 10s to £7 10s; medium, £4 to £5 ss; light and aged, to £3 15s. Fat pigs.—A medium entry, with a good demand for bettor quality. Values: Choppers, 20s to £2 8s 6d; porkers, 25s 6d to 29s 6d; heavy, 30s 6d to 35s 6d; average price per lb, 5d to 52<1. Baconers, 36s 6d to 46s 6d; heavy, 48s 6d to 55s 6d; extra heavy, to £3 Is 6d; average price per lb, 4fd to 4^d. JOHNSONVILLE SALE. At tho Johnsonville sale yesterday, Wright, Stephenson and Company, Ltd., and Abraham and Williams, Lfd., offered a full yarding of cattlo and an average yarding of sheep. There was good competition for cattlo at. prices showing no alteration on last week’s rates. Sheep mot a fair demand, owes and wethers being easier to tho extent of Is to Is 6d per head, and hoggets at par with last week’s rates. Good quality lambs sold well, while lighter and inferior sorts wore hard to quit. Prices were: — Prime extra heavy bullocks, £9 15s, £9 12s 6d, £9 ss, £9; prime heavy bullocks, £8 10.3, £8 ss, £B, £7 15s; heavy bullocks, £7 ss, £7, £6 15s; prime heavy cows and heifers, £6 ss, £5 7s 6d, £5 ss, £5; runners, £3 9s, £3 Bs, £3 7s, £3 Is, £3; calves, 15s, 11s. Prime extra heavy wethers, 28s 9d, 28s Bd, 28s; prime heavy wethers, 25s 3d, 24s 6d, 23s lCd; prime extra heavy ewes, 23s 3d, 22s 6d, 22s 3d, 21s 9d; prime heavy ewes, 20s, 19s 9d, 19s 6d; medium owes, 19s Id, 18s 9d, 18s bd; heavy hoggets, 23s 9d, 23s 3d, 235, 22s lOd, 225; light hoggets, 16. s 9d, 15s Id, 14s 9d; spring iambs, 225, 21s 9d, 21s 6d, 20s; light spring lambs, 19s, 17s 6d, 16s 4d, 15s. FIRM MARKET AT LEVIN. The live stock offerings at the Levin yards on Tuesday wore smaller in numbers than usual, but the market all through remained firm and late rates _ wore well maintained. Fat sheep met with a firm enquiry, light owes making 20s and prime hoggets to 22s 7d. Other linos sold at rates on a par with recent sales. The beef offering was of fair quality and the demand firm, with prices ranging from £2 14. S for light fat sorts to £4 10s for primer carcases. Store cattle met with fair competition and a steady market. Dairy stock have been in over-supply this year and prices accordingly have been on a lower level. Tho yarding on Tuesday was a full one, but there was a better demand for the quality lines, heifers making up to 6gns and cows £4 15s. Small and late-calving heifers were slow of sale. Tho pig market remains firm for both stores and fats, with pork averaging round about the 43d per lb mark. Prices realised were as follow: — Sheep.—Fat hoggets, prime, 22s 6d, 22s 7d; forward condition do., 16s 9d, 17s 6d; fat ewes, 20s; store do., 14s 6d. Cattic.—Fat cows, £2 14s, £2 17s, £3, £3 2s, £4 10s; fat heifer, £2 12s; forward condition cows, 335, 395, 40s, 455; store do., 15s, 18s, 20s, 225, 245, 255, 265; 2-year P.A. steers, £3 4s:' yearling heifers, 335, 375; bulls, 30s, £2, £2 10s, £3 Is. Dairy stock. —Best springing heifers, £4 17s, £5 ss, £6 ss, £6 6s; smaller and backward sorts, £1 10s, £1 15s, £1 17s 6d, £2 ss, £2 14s, £2 15s, £2 16s, £3 2s 6d ; springing cows, £4 15s; cows in milk, 27s 6d, 32s 6d, 355, 39s 6d, £2 10s, £2 12s 6d, £3, £4 10s, £4 15s. Pigs.—Small stores, 18s, 18s 6d; light pork, 255, 275, 28s; medium do., 29s 6d, 30s, 30s fid, 31s 6d, 325: heavy do., 335, 33s 6d, 345; baconers, 395, £2, £2 3s fid, £2 6s, £2 6s 6d. PAHIATUA SALE. A good yarding of dairy stock and a small lot of fat ewes were offered by the New Zealand Loan and Mercantile Agency Co., Ltd., at the Pahiatua sale. Competition was on a par with recent sales, and the following prices were realised: — Best springing dairy heifers, to £4 10s: medium, £3 10s to £4; late and poor sorts, £2 to £3; fat ewes, 17s. HAWKE’S BAY VALUES. Per Press Association. HASTINGS, Sept. 20. A short market with a keen demand for the bulk of the offering combined to put values up on all ’ better lines in the fat cattle section at the Stortford Lodge sale to-day, when 180 were yarded. Bullocks : Medium to prime, £6 2s 6d to £9 6s 2d; others, from £5 ss. Cows: Medium to prime, £4 15s to £6 ss; .others, from £3 ss. Heifers: Medium to prime, £4 18s, to £5 12s 6d; others, from £3 10s. A large yarding of 700 store catle met a steady demand and values rose in consequence. Heifers, £1 8s 6d to £1 17si yearling to 4-year steers, £2 10s to £4 ss; bullocks, £4 12s to £5 3s; cows, to £2. The yarding of 1500 head of fat sheep met an easier market, with prices Is to 2a per head lower, ewes principally being affected. Ewes, medium to prime, 17s 6d to 20s 7d; others from 11s 6d; hoggets, to 20s; wethers, medium to prime, 20s to 24s 6d; others, from 16s. Lambs, 18s 3d to 25s 9d. A moderate yarding of store sheep met a very good market, the demand being ’ keen and values showed a distinct firming. Ewes, 7s. 3d to 15s Id; ewes, with lambs, all counted, 11s 6d to 15s Id; wethers, 15s 8d to 18s 2d; hoggets, 13s Id to 18s. At Burnside sale beef was dearer and mutton considerably cheaper. The beef demand steadily stiffened to rise in the latter part of the sale up to- 20s and 25s por head on the opening rates for bullocks and 103 for cows and heifers. Another small yarding of spring lambs was offered, and sold from 20s to 32s per head. Opening sheop values for wethers were from Is to Is 6d bqlow those realised at previous sale, with cwos 3s lower. Values improved, however,” at the finish to within 2s of last week’s rates. , There was a better demand for beef at the Westfield sale, when tho offering was reduced and keen competition was shown. Heavyweights sold at an advance of fully 10s a head, while prime cow and heifer beef was in particularly good request. Extra choice ox sold to 2(15 per 1001 b; choice and prime, 16s to 19s; secondary and plain, 13s to 153; prime young cow and heifer beef, 18s to 20s; ordinary cow, 12s to 15s. Sheep were penned in larger numbers, particularly ewes. Wethers were firm at late rates, but there was a slight easing in prices for ewes and hoggets.

WELLINGTON STOCK EXCHANGE. YESTERDAY’S BUSINESS AND PRICES. Brisk trading was again reported on tho Wellington Stock Exchange yesterday. Tho market was very firm and buoyant on an active demand, and 23 sales were recorded. Government loans were in good demand and actively traded, notably the 4 per cent stocks, and the 3£ por cents, 1938-52. Local body and other debentures had a firm market, sellers quoting fairly wide margins. Amalgamated Brick (Wellington) advanced to £92 10s, cum interest, sellers holding for £97. Good business was done in banks, which were all firm except New Zealand orinaries, these being traded at 48s, with late buyers offering 8d lower. Sales of Christchurch and Wellington Gas were again made at unchanged prices. South British Insurance were traded at 74s 6d, and New Zealands advanced to sales at 55s and 55s 3d. Meat shares continued to attract attention, quoted prices being fully firm. Wellington Woollen preference strengthened to £5 9s 6d, the ordinaries being steady at 6d less. Little change was seen in miscellaneous shares, prices being well maintained. Bux-ns, Philp sold at 525, and Wilson’s Cement at 35s 6d. There was an active demand for gold mining shares, with little quotable change in prices. Mount Lyells firmed to sell at 22s 7d. YESTERDAY’S QUOTATIONS. Yesterday’s buying and selling quotations on tho Wellington Stock Exchange were as follow:

PASTORAL STOCKS IMPROVE. LONDON, Sept. 19. On the Stock Exchange to-day, quotations of Australian company stocks compared with previous quotations as follow: 1 Aug. 22. Sept. 19 £sd £ s d

A DIFFICULT YEAR. CANTERBURY FARMERS’ CO-OP. Per Press Association. TIMARU, Sept. 20. The annual report of . tho Canterbury Farmers’ Co-op. Association, Ltd., states that, notwithstanding the continued dopressed state of world conditions and tho consequent low prices of primary products, tho business of the association increased as follows:—nMerchandise turnover, £lB,723;- grain and produce, £21,044; auction department, £20,925. The result of the year’s trading showed an increase in gross profit of £16,011. -In view of the prevailing conditions it was considered prudent to make further provision for bad and doubtful debts, and oxchange, tho result being that a loss of £15,442 was disclosed. The costs of running the business had been further reduced by £2373. There was also a decrease in the company’s responsibility, compared with the previous year, of £10,071. The retiring directors were ro-elcctcd unopposed.

Buyers Sellers. N.Z. GOVT. LOANS— £ s. d. £ s. d. 4 p.c. Bonds, 1940 ...101 0 0 — 4 p.c. ditto, 1946 100 7 6 — 4 p.c. ditto, 1949 101 15 0 — 4 p.c. ditto, 1955 100 12 6 — Rural Advance Bond — 98 5 0 hi p.c. Ins. StocK, 1939-43 99 17 6 — 3j p.c. ditto, 1939-52 ... 99 17 6 — 3j p.c. ditto, 1938-43 ... 99 17 6 — 3| p.c. ditto, 1938-52 ... — 101 12 6 4 p.c. ditto, 1940 101 0 9 — 4 p.c. ditto, 1946 100 7 6 — 4 p.c. ditto, 1949 101 10 9 — 4 p.c. ditto, 1955 100 5 0 — DEBENTURES— Well. Harb. Bd„ 5J p.c., 1940 100 0 0 101 5 0 New Plymouth H.B., 5-2 p.c., 1/2/1946 — 101 0 0 \\ eil. Gas (Jo 102 10 0 — Well. Racing Club ... 94 10 0 — Amid. Brick and Pipe, Wellington *92 10 0 97 0 0 Ditto, Auckland — +93 0 0 BANKS— Australasia — *13 0 0 Comrcl. of Aust., ord. 0 16 11 0 17 1 Comrcl. Banking Co., Sydney 18 0 0 — Eng., Scot, and Aust. 5 16 0 — National of N.Z 4 5 U 4 6 6 Nat. of Ausrraiasia, £10 paid 13 0 0 — Ditto, £5 paid 6 9 0 . New South Wales 33 0 0 — New Zealand 2 7 4 2 7 b Ditto, “D” long term 1 13 6 1 14 3 Union of Aust 10 6 0 10 7 6 FINANCIAL— Abraham and Williams, ord — 3 0 0 Goldsbrough, Mort and Co 1 9 7 — National Aiortgage “B” ' 1 7 0 — N.Z. Guarantee Corp., ord *0 7 6 0 7 8 Ditto, prof — *1 2 6 N.Z. Invest.. Mort. and Deposit. 0 3 4 — N.Z. and River Plate 1 2 6 — Well Invest., T. & A. 0 4 3 — Well. Trust Loan .... 3 18 0 — GAS— Auckland — 1 3 9 Christchurch 1 7 8 1 8 0 Wellington, ord 1 13 0 1 13 9 INSURANCE— National of N.Z — 0 18 6 New Zealand 2 16 3 2 15 9 South British 3 14 0 3 16 0 MEAT PRESERVING— Gear Meat, cum rights 1 13 0 1 13 3 N.Z. Refrig., £1 paid 0 19 2 — Ditto, 10s paid 0 9 9 0 10 0 Well. Meat Ex., prof. 0 15 6 — Southland Frozen Meat, contrib 1 5 3 — TRANSPORT— Union Steam, prof. ... 1 3 6 — WOOLLEN— Wellington, ord 5 9 0 — Ditto, pref 5 9 6 TIMBER— Leyland-O’Brien 0 17 0 0 18 1 BREWERIES— Carlton — 2 0 0 N.Z. Breweries 1 16 6 1 17 0 Staples and Co — 1 9 0 MISCELLANEOUS— British Tobacco, Aust., ord *1 16 6 — Colonial Sugar 58 10 0 59 5 0 Con. Brick and Pipe — 0 6 2 Dominion In vestments 1 3 0 —• Dionaghy’s Rope and Twine 2 0 0 — D.I.C., pref 1 0 9 — Electrolytic Zinc, ord. 1 3 0 — Electro. Zinc, 8 p.c., part pref *1 16 3 — Henry Jones Co-op. ... 1 16 9 — National Electric — 0 10 0 N.Z. Drug 4 3 9 0 — Whitcombe and Tombs 3 5 6 — \\ jiMHi s Lenient, cum. 3 1 15 8 Wooiworths, N.Z., Ltd., pref 1 15 6 1 16 0 Xttt Colosseum — 2 d 1 Prestige (N.Z.), Ltd.. prel — 1 2 0 N.Z. Newspapers 1 7 6 — OIL- . . Moturoa, ord 0 1 8 — Moturoa. pref — 0 5 0 Taranaki 9 2 0 0 2 6 MININGAlexander, contrib. ... 0 lo 0 — Ditto, fully paid *0 19 0 — Big River 0 1 7 0 1 9 Gillespie’s Beach 0 2 2 — 0 3 King Solomon 0 3 4 0 3 8 Mount Lycll 1 4 6 1 2 9 — 4 0 11 8 Waihi *1 “ 6 — Waihi Grand Junction 0 4 0 — Waitahu 9 1 4 Bell Hooper — Bell Kilgour 9 1 7* U J. Central Shotover (J 0 11 U 1 Mataki 0 4 5 0 2 5 •Cum. dividend. +Ex interest.

Dalgcty & Co. shares Dalgety & Co. 4 p.c. 7 12 6 9 0 0 deb. stock G olds b rough, Mort & Co. 5 p.c. “B”, deb. 88 10 0 91 0 0 stock 83 10 0 85 0 0