FARMING AND COMMERCIAL

Manawatu Standard, Volume LIII, Issue 255, 25 September 1933, Page 5

FARMING AND COMMERCIAL

SUBSTANTIAL RISE.

HIGHER BUTTER PRICES. BOTH MARKETS FIRM. There was a substantial advance of 7s to 9s a, cwt in the price of Now Zealand salted butler in London last week, the market, closing firm on Friday at 105 s to 110 s, the highest level recorded since last October. The retail prices of New Zealand blitter will be increased in London this week by Id to Is Id a lb. Inroads have been made on butter stocks in Britain, the Empire Marketing Beard's estimate of the stocks of all butters being 963,511 boxes, compared with 715,820 boxes a year ago. Deliveries of New Zealand butter last week were 2560 tens, compared with 2277 tons for the previous week, and the quantity in store was 6113 tons, compared with 6788 tons at the, end of the previous week and 9800 tons at the end of July. Australian supplies in London are very short, deliveries last, week being 535 tons, and stocks 055. tons. The cheese market improved last, week and closed stcaily. The Dairy Board's London ellice rcpoifs Friday's official closing quotations as follow, i hose, for the previous week being shown in parentheses : BUTTER. New Zealand. —Salted, 105 s to 110 s (98s to 101 s; September 22, 1962, 108 s to 114 s) ; 105 s to lilts equals approx. 12.66 d f.o.b. Un.-altcd, 108 s to 112 s ili)2s to 114 s; September 22. 1932, 110 s to 114 s). First whey, 945; second whey, 925. Deliveries, New Zealand, 2560 tons. In store, New Zealand, 6113 tons, includes ex Karamea and Surrey 1262 tons. Australian. —Salted, 106 s to 110 s (99s to 101 s); unsalted, 110 sto 112 s (106 sto 102 s). Deliveries, Australian, 565 tons; in store, 955 tons. Esthonian. —Salted, 92s to 96s (88s to 90s); unsalted, 92s to 945. Latvian: Salted, 92s to 96s (88s to 925). Lithuanian:' Salted, 92s to 96s (88s to 90s); unsalted, 92s to 945. Siberian, 86s to 92s (84s to 86s). Ukrainian, 84s (80s to 82s). Danish, 96s f.0.b.; 118 s spot, quiet (99s to 120 s). Dutch: Unsalted, 114 sto 118 s, quiet (116 s to 110 s). The board has also received the following advice from its agents in Canada: Butter, New York, 24 cents; Montreal, 20 cents a lb. CHEESE. New Zealand.—White, 545, 54s 6d to 55s (52s 6d to 535; September 22, 1932, 63s to 645); coloured, 54s to 55s (53s 6d to 54s 6d; September 22, 1932, 59s to 60s). 54s to 55s equals approx. s a d f.o.b. Deliveries, Now Zealand 22,771 crates; in store, 1055,623 crates, includes ex Ivaramea 14,500 crates. Australian.—White and coloured, 535. Canadian. —White, 535, 56s to 58s (56s to 58s): coloured, 545, 56s to 535; c.i.f. 56s 6d (545). Deliveries, Canadian, 11,500 boxes; in store, 103,000 boxes. English.—Finest farmers, 74s to 78s (74s to 78s).

AGENTS’ REPORTS.

The New Zealand Producers’ Co-opera-tive Marketing Association’s weekly cabled market report from London, dated September 22, is as follows:—Butter: Market firm. New Zealand, finest, 108 s to 109 s; firsts, 104 sto 105 s. Danish, 118 s. Cheese: Market firm. New Zealand, white and coloured, 54s to 555. Canadian, 53s to 565. W. Wcddcl and Co., Ltd., London, report dated September 22: —Butter: Danish, 118 s; New Zealand, finest, 105 sto 110 s; Kangaroo, 106 s to 110 s; market firm. Cheese: Now Zealand, white and coloured, 54s to 555; Canadian, 53s to 565; market steady. At the close of business the butter market was easier, fresh-landed finest New' Zealand butter being offered at 108 s. Mr A. C. Row-son, London, reports: — Cheese: New Zealand, white, 55s per cwt; coloured, 665. Butter: New- Zealand, first grade, 106 s per cwt; finest grade, 103 s. Both markets firm, with moderate demand.

FARMING NEWS.

RURAL RAKINGS. The financing of the future activities of the Wheat Research Institute, Christchurch, will be safeguarded by legislation which is to be introduced by the Government this session. The Wheat Research Institute was established in 1928 through the combined efforts of wheatgrowors, flourtnillers and bakers to secure scientific aid for the wheat industry. Funds were raised through levies voluntarily paid bv those three interests and subsidised pound for pounds by the Government through the Department of Scientific and Industrial Research. The amounts of the levies were fixed at 14d per 50 bushels of flour sold by the wbcatgrower. lid per ton of flour sold by the flourmiller, and 14d per ton of flour purchased by the baker. Statutory authority for the collection of these levies, which covered a five year period will expire in December. With the consent of the payers of the levies, authority is to bo extended by legislation for a further five years. The Government, this session, proposes to introduce a number of Bills concerning various phases of the farming industry. Those have been accumulating for some time, but have had to give place to emergency legislation during the last two sessions. Among these measures are the Orchard Tax Amendment Bill, which makes exemptions from the (irebliglit tax; a Stallions Bill requiring the licensing of stallions of heavy breeds intended to be used for stud purposes: the Stock Remedies Bill, which seeks to control the sale of proprietary medicines for the treatment of stock diseases: and the Agricultural and Pastoral Societies’ Amendment Bill, empowering associations to make by-laws for the licensing of shewnten. The Minister of Agriculture (Hon. C. E. Macmillan) will bo in charge of all these measures. lie will also introduce the Dairy Industry (Pig Marketing) Bill, the object, of which is to extend the scope of the Dairy Industry Act so that registered pig marketing companies may have the same powers regarding the surrender of shares as arc now conferred on registered co-operative dairy companies.

LAMB MARKET QUIET,

PRICES UNCHANGED. HEAVY SUPPLIES HOME KILLED. The lamb market is quiet and prices are unchanged. Consumption is being reduced by heavy supplies of Home-killed. Wether mutton steady, with fair trade. Ewes dull, with trade slow. Beef market: Heavy stocks continue to depress market. New Zealand porker pigs: Fair demand, with prices firm. Now Zealand baconcr pigs: Meeting with good demand, with prices unchanged. The above report was received on Saturday by the (Meat Board from its LonI don office, which advises that the followI ing arc the approximate average prices realised for the week ended September 22, I based on actual transactions of wholesale quantities of the descriptions of meat mentioned, and are for representative parcels of the goods offering during the week, being for business done on the basis of delivered to Smithticld (Market and/or ox 'London stores. Prices for the two previous week are also shown. New Zealand sheep.—Canterbury and North Island selected crossbred wethers and maiden ewes, 481 b to 561 b, 43d (same); 57 lbto64lb 4pl (same); 651 b to 721 b, 4d (same). North Island crossbred wethers and maiden owes, 481 b to 561 b, 4Jd (4|d, 4jjd); 571 b to 641 b, 4ad (same); 651 bto 721 b, 4d (4d, 3 a d)). Ewes, 481 b and under, 3gd (same); 481 b to 641 b. 3|d (3jd, 3Jd); 651 b. to 721 b, 3Jd (3-id, 3|d). New Zealand lambs.—Canterbury, 361 b and under, 7|d (7-jd, 7gd); 371 b to 421 b, 7/,d (same); 431 bto 501 b, 6RI (same); Other South Island brands: 361 b and under, 7*d (7Jd, 7/,d); 371 b to 421 b. 7^d (same); 431 b to 501 b, 6id (same). Selected North Island brands, 361 b and under, 7J,d (7jd. 7|d); 3771 bto 421 b, (same); 431 b to 501 b, 6jd (same); second quality, average 321 b, 7d (same). Other North Island brands, first quality, 36ib and under, 7d (same); 371 b to 421 b, 6gd (same); second quality, average 321 b, 7d (7d, 6£d). Australian lamb.—Victorian, first quality, not quoted. Argentine lamb. —First quality, now season’s, 361 b and under, 7d (7d, 6jd); first quality, new season's, 371 b to 421 b, 6jd (6Jd, 6|d). New Zealand beef.—Ox fores, 2|d (2§d. 2£d); hinds, 3£d (3£d, 3d); cow fores and hinds not quoted. . 07 , Argentine chilled beef. —Ox fores, 2 a d (3gd, 2gd); hinds, 53d (bd, sgd). Australian frozen beef.—Ox crops, over 1001 b, 23d (same); hinds, over 1601 b, 3 3 d (33d, 3 B cl). . t . .... , New Zealand prune porker pigs.—6olb to 801 b, 6d (same); 811 b to 1001 b, 6d (53d, s§cl); 1011 bto 1201 b, 53d (53d, s a d)l. New Zealand baconcr pigs: 1201 b to 1601 b, 53d (same).

OTHER REPORTS.

The Bank of New Zealand’s produce department has received the following advice from its London office as at close of business last week: The market for wethers i» quiet but firm. The market for owes is dull and little business doing. Irade m lamb is slow owing to heavy supplies of fresh meat. There is a fair demand for beef. Trade generally is affected by heavy supplies of home-killed meat. M ethers light, 4 a d to 5J,d per lb; heavy, 3gd to 3 a d, ewes, 3d to 33d; lambs, 2’s, 7d to 7id B’s, 6|d to 7ad; 4’s. 6d to 6id; seconds 6Jd to 7d! Beef: Ox hinds, 2!d to 3 a d; fores, 2|d to 2|d; cow hinds, 2§d to 2gd; fores, 2 'Vhe 2 markct is very quiet, with mutton market lower, particularly ewes, says a cable message received by Levin and Co., Ltd., from their London agents. Compared with the previous weeks quotations, crossbred lamb, 36-421 b, 4<l per lb lower; wotrers, 64-721 b, £d !*•' ib , bl B hcr - ' ’ 48-641 b id per lb lower. I rime ox beet, id tier' lb lower. Other quotations unchanged. Smith field “delivered” prices arc quoticd as follow: North Island Down lambs, 28-361 b, 74d per lb; 36-4211), 7 2 d per b, best North Island crossbred lan ' b ’ 28-3611), 77-d; 36-4211) 7Ad; *orih Island second quality lambs, averagel 30-31 b, 7d- best North Island wether sheep, under 431 b, SRI; 48-5611), 43d; 56-641 b, M; C./1791K 4 f i. North Island owes, under 4olb, 33d; 4 8-8561 b. 3 § cl; 56-6411),-3id; 64-7211), 3|d. New Zealand prime ox beef, 160-22011), 2gcl. CHICAGO WHEAT. NEW YORK, Sept. 23. Chicago wheat.—September, 884 cents a bushel; December, 924; May, 9og. New York, cash, 1003 cents a bushel. RAW MATERIALS. COPRA AND RUBBER EASIER. LONDON. Sept. 23. Friday’s closing prices for raw materials were as follow, those for September lo being in parentheses:— Cotton— Liverpool quotation, good American middling. 5.42 d a lb (5.4 rd); October delivery, 5.35 d a lb (5.33 d). Rubber —Para, 44d a lb (43d); plantation smoked ribbed sheet, 33d a lb (3 21-32 d). , . T Juie.—Septcmbor-October shipment, Indian jute, Dundee quotation, £ls 2s 6d a ton (£ls). . Copra. September - October shipment, South Sea, £9 10s a ton (£9 12s 6d) ; plantation, Rabaul, £9 12s 6d a ton (£9 15s). Linseed oil.—£2l a ton (same) ;. turpon tine, 48s 3d a cwt (47s 9d). Osmiridium: Unchanged. TASMANIAN FRUIT INDUSTRY. “AT ITS "LAST EBB.” The chairman of the Tasmanian State Fruit Advisory Board (Mr B. J. Pearsall), in his report for the year ended June 30, said it must be admittecl that, owing to the lowness ot the average returns received last season, and particularly this season, the fruit industry in Tasmania was practically at its last ebb. Mr Pearsall added that, unless substantial financial assistance was given growers immediately, they would, in many cases, be forced off their properties. If the industry were lost, Tasmania would become almost bankrupt. The Commonwealth Government must give relief. If the industry, which was of incalculable importance, to Tasmania in particular and to the Commonwealth ill general, were to be retained, it was essential also that freights should bo reduced substantially. i

BASE METALS MARKET.

COPPER AND TIN AGAIN EASIER. LONDON, Sept. 22. The official London (middle) quotations for Friday, as reported by the Australian Mines and Metals Association, compare as under with those previously cabled: —

It is interesting to note (.a northern exchange says) that the buying prices of prime baconers and porkers have advanced about 2d per lb over the opening prices for last season. This is due to the increase in exchange (25 per cent.) and the quota applied in England on the importation of foreign pork and bacon. The opening prices for prime exportable porkers and bacon ers are approximately 5d per lb.

WELLINGTON STOCK EXCHANGE. LAST WEEK'S BUSINESS AND PRICES. Heavy trading was recorded last week on the metropolitan exchanges, investors operating confidently on a wide range of stocks and shares. Good support was maintained in most sections of the market, and the volume of business was well up to tho high levels of recent weeks. A feature of last week’s business was the increased turnover in bank shares, values of most of which advanced strongly. Australasias were traded at £l2 15s, E., S. and A. Bank made a notable advance to £6, a rise of 8s 6d on tho peak price of tho previous week. National of New Zealand woite active, and very firm, selling up to 86s. Now South Wales moved up from £32 10s to £34. Commercial of Australia gained strength on active trading, the highest point being reached on Saturday at 17s 3d. Commercial of Sydney advanced to sales at £lB Bs, a gain of 12s since the previous week. Union of Australia were also active, and firmed sharply during tho week to £lO Bs. National of Australasia, £lO paid, sold to £l3 ss, and the £5 paid went to £6 14s 6d. New Zealand ordinaries, reacting to special influences, continued to ease throughout the week, selling down to 455, compared with the highest point of 49s 3d in the previous week. The long term mortgage shares were firm at 345. Insurance shares also came in for increased business at higher levels. South British sold up to 74s 6d, New Zealands to 55s 3d. Nationals to 18s 3d, and Standard to 61s 3d. Pastoral shares reacted to the improved prices for wool and butter. Dalgetys sold at £lO 15s to £lO 12s 6d. Go'dsbrough Morts advanced to 30s, closing sales being made at 29s lOd and 29s Bd. New Zealand Loan and Mercantile 5 per cent, preference stock sold at £75. and the ordinary stock advanced to £65. Firmer prices were registered for gas, shipping, moat and woollen shares. Wellington Gas were done at 33s 7d and 33s 6d, Christchurch at 27s 9d to 28s 3d, and Auckland at 23s 7d. Union Steam preference advanced to 24s 3d, sellers 25s lid, hut no sales were recorded. Now Zealand Refrigerating, both issues, wer actively traded at firm rates. Southland Meats were done at 52s to 535. New Zealand Breweries showed a further easing, sales during the week being made at 37s 9d down to 35s lOd. Better business was done in miscellaneous shares, which were definitely firmer. British Tobaccos advanced to 37s 6d. easing to 37s Id at the close. Dunlop Rubbers sold from 18s 3d to 19s. For the first time in many months, Sliar'.ancis had a sale on the firm basis of 21s 6d. Wilson’s Cement were traded firmly at 35s 6d, and Milburn Lime at 30s 7/d to 30s 9d. Burns, Pliilp were unchanged at 525. Mount Lyells showed a hardening tendency, sales being made up lo 235. SATURDAY’S QUOTATIONS. Buying and selling quotations at Saturday morning’s call on the Wellington Stock Exchange were as follow: Buyers. Sellers.

Sept 21. Per ton. Sept.. 22. Per ton. Copper— £ s d £ s d Standard, spot 34 10 n 34 4 41 Standard, forward . 34 13 y 34 8 4 •Electrolytic 37 15 0 37 10 0 to 38 5 0 38 0 0 Wire bars 38 8 0 38 0 0 ' Lead — Forward 11 18 9 11 0 0 Spot 12 3 y 12 3 9 Spelter— Spot 16 5 0 16 13 9 Forward 16 18 9 16 17 6 Tin— tSpot 215 16 3 214 16 3 Forward 215 16 3 214 16 3 Silver — Standard, per oz. ... Fine 18Jd 19 ll-16d 18id 19 ll-16d fAmerican, not quoted. * American, 9 cents a lb,

N.Z. GOVT. LOAN'S— £ s. d. £ s. d. 4 p.c. Bonds, 1940 ...101 0 0 — 4 p.c. ditto, 1946 100 7 6 101 2 6 4 p.c. ditto. 1949 101 15 0 — Rural Advance Bonds n.c. Ins. Slock 98 10 0 1939-43 100 0 0 — p.c. ditto, 1938-43 ... 99 15 0 — 4 p.c. ditto, 1940 101 0 0 — 4 p.c. ditto, 1946 100 7 6 101 2 6 4 p.c. ditto, 1949 101 12 6 — 4 p.c. ditto, 1955 100 5 OKI! ENT t' RKS — Well. Citv, p.c.. 0 100 15 0 1940 — Well. Harb. Bd., 5J, 101 5 0 p.c., 1940 100 0 Well. City, 51 p.c., 0 ~ 1/10/1939 102 10 0 Well. Gas Co 102 10 0 — Well. Racing Club ... 94 10 Amid. Brick and Pipe, 0 Wellington 92 0 BANKS— 0 97 0 0 Australasia *12 14 0 13 0 0 Gomrcl. of Aust., ord. 0 17 Control. Banking Co.. 1 — Sydney 18 3 0 — Eng., Scot, and Aunt. 5 18 0 — National of N.Z 4 5 Nat. of Australasia, 6 4 7 0 £5 paid 6 13 6 — New South Wales 33 12 6 — Now Zealand 2 5 0 2 5 9 Union of Aust 10 5 FINANCIAL— Abraham and Williams, 6 ord — Goldsbrough, Mort and 3 0 0 Co • 1 9 National Mortgage, 8 1 9 11 “B” 1 7 N.Z. Guarantee Corp., 0 ord *0 7 6 — Ditto, pref *1 1 N.Z. Invest., Mort. 0 1 2 t> and Deposit 0 3 N.Z. Loan and jVIerc., 3 ord. stock — 66 0 0 N.Z. and River Plate 1 3 0 — Well. Trust Loan .... 3 18 0 — Well. Dep. and Mort. 0 3 GAS— 6 Auckland — 1 3 9 Christchurch, contrib. 0 13 3 — Wellington, ord 1 13 INSURANCE— 0 1 13 9 National of N.Z — 0 18 3 New Zealand 2 15 0 2 15 9 South British — MEAT PRESERVING— 3 15 6 Gear Meat, cum rights 1 13 0 — N.Z. Refrig., Cl paid 0 19 3 — Ditto, 10s paid 0 9 8 0 9 11 South. Frozen Meat 2 12 TRANSPORT6 Union Steam, pref. ... 1 4 0 1 5 0 P. and O. def. stock 1 3 WOOLLEN — 0 “ 0 Wellington, pref — COAL— 5 15 Westport 9 12 TIMBER— 9 6 0 15 0 Ley land-O’Brien 0 17 BREWERIES— 9 0 18 0 CarKon N.Z. Breweries 1 15 0 1 16 0 Staples and Co MISCELLANEOUS— British Tobacco, Aust., 1 9 0 ord 1 lb 9 1 17 6 Colonial Sugiir 58 15 0 0 6 Con. Brick and Pipe — Donaghy’s Rope and 2 Twine 2 0 9 — D.I.Ci, pref 1 0 9 — Dunlop l’erdrian *0 18 0 — Electrolytic, Zinc, orcl. 1 3 Electro. Zinc. 8 p.c., 0 part pref *1 13 4 1 13 9 Henry Jones; Co-op. ... — 1 18 6 National Electric — 0 9 6 Sharland and Co., ord. 1 0 6 — Ditto, pref 1 0 Wilson’s Cement, cum. 6 rights 1 15 Wool worths (Sydney). 5 1 16 0 second pref — 1 6 0 New Colosseum — 0 2 0 0 N.Z. Newspapers 1 7 Prestige (N.Z.), Ltd., 0 o T| - i 1 2 jYIoturoa. ord 0 1 8 — Taranaki 0 2 MINING— 0 Alexander, contrib. ... *i i 6 Ditto, fully paid — *1 4 0 Big River — 0 1 85 6 1 15 6 Gillespie’s Beach 0 2 2; 0 2 4 King Solomon *0 3 4 — Mount Lyell 1 3 0 — Nokomai 0 2 9 — Okarito 0 H 3 0 11 5 • Waihi *1 b 0 * Waihi Grand Junction 0 4 2 — Waitahu 9 7 4 — Bell Hooper 0 1 0 — Boll Kilgour 0 1 9 Mataki 0 2 1 0 2 6 Central Shotovcr ...... — Turn, dividend. 0 1 0