FARMING AND COMMERCIAL

Manawatu Standard, Volume LV, Issue 245, 13 September 1935, Page 5

FARMING AND COMMERCIAL

BUTTER AND CHEESE. LONDON MARKETS QUIETER. Joseph Nathan and Co., Ltd., have received from London tho following cabled advice, dated September 11 : —New Zealand butter and cheeso markets quieter after the advance. Cheese, 53s 6d. Butter: Some resellers accepting Is to 2s less. 'The New Zealand Loan and Mercantile Agency Co., Ltd., have received the following advice from their London bouse, dated September 11:—Dairy produce (last wock’s quotations in parentheses) : Butter, New Zealand choicest salted, Ills to 112 s per cwt ,102 s). Cheese, 53s to 54s per cwt (50s to 51s). Markets quiet.

NATIONAL JERSEY SHOW. SALE AT CLAUDELANDS. More than 200 Jerseys were paraded before the judges at the thirteenth National Jersey Show held at the Claudclandd Showgrounds at Hamilton, this week. In the opinion of the judges (Messrs C. G. C. Dernier, G. H. 801 l and H. AJoreland, of the Jersey classification committee) the entries attained tho high standard of the previous shows, many of die young bulls being particularly impressive. Tho grand championship ribbon of the show was awarded to the iive-ycar-old bull. Crofton Nicmcs Emperor, the entry of Mr J. Inglis, of Riwaka, Nelson. Jersey Glen Pay Day, the two-year-old bull of Mr F. V. Bryant, of Mangatainoka, was reserve champion. Tho premiership of tho junior classes was obtained by Tuhitarata Forward Boy, the property of Mr J. Jamieson, of Lansdowne, Masterton. Blythcwood Achilles, the attractive entry of Mr J. A. Russell, Palmerston North, filled the role of reserve champion of this division. Other awards were made as follow: — Two-year-old bulls, class 1. —Mr 11. C. Sampson's Woodlands Buster 1; Mr R. L. Horn’s (Oliau), ICuku Royal Leader, 2; Air W. T. Luxton’s, llidway Daffodil's Noble, 3. Class 2.—Mr F. Y. Bryant’s Jersey Glen Pay Day, 1; Air 11. Moreland’s Rovtcm King Edward, 2; Mr Truby King's Suzanne’s Marquis, 3. Throe-year-old class. —Mr F. S. Vealc’s Expectation of Tamahere, 1; Mrs J. People’s Middlewood Jostler, 2; Estate S. E. Southee and Sons’ Almadale Dinkum, 3.

YEARLING CLASSES. Class 1. —Air J. Jamieson’s Tuhitarata Forward Boy,' 1; Mr J. A. Russell's Blythcwood Achilles, 2; Mr J. A. Mitchells (Longburn), Santa Rosa Coy Raindrop, 3. Class 2.—Messrs A. Alore.and and Sons’ Beechlands Gipsy's Honour, 1; Mr J. Inglis’s St. Lambert Cold Field, 2; Mr Trilby King’s Henry’s Star, 3. Class 3. —Air Allan Horn’s (Ohau), Ailandalo King Pin, 1; Mr Horn’s Allandalc Ambassador, 2; Air V. AIcD. Hitchings’s Owler of Windermere, 3. Class 4.—Misses Kilgour’s (Kiwitoa', Middlewood Fido, 1 ; Alessrs Moreland and Sons’ Beechlands’ Chief Flag, 2, and Beechlands Flag Again, 3. Class s.—Alessrs H. H. Sutton and Sons’ Tolgarth Cora’s Majesty, 1 and Tolgarth Iris Majesty, 2; Air V. AIcD. Hitchings’s Windermere Boss Alliance, 3. Special group class. —Air J. -Jamieson, Alastcrton, 1; Alessrs A. Moreland and Sons, Te Rapa. Tho buying benches in the selling pavilion were hardly sufficient to cope with the large number of buyers in attendance for the opening of the sale. Exceptionally keen competition was the order of the morning's sales, superior quality consignments eliciting brisk inquiry at substantial values. The top price of the morning was 130 guineas, paid for the entry of Mr P. J. Petersen, of Waitara, Ivondalc Heather Had, b.y Ivondalo Rainbow You'll Do from Ivondalc Tiny Heather. The buyer was Mr A. E. Watkins, the well-known Jersey breeder of Takanini. Other prices were 72gns, 68gns, 60gus, 50gns, down to 22gus. LEVIN SALE. Prices at tho Levin sale on Tuesday were on a par with late rates. The yardings were light. Abraham and Williams, Ltd., report tho following sales: Sheep.—Fat wethers, 245: fat ewes, 15s 9d. 18s, 20s; hoggets, 18s lOd, 21s, 22s 6d. Cattle. —Primo heavy cows, £6, £6 7s 6d, £6 10s; fat do., £3 Is, £3 2s, £3 bs, £4, £4 7s 6d to £5 10s; light do., 37s 6d, £2 6s, £2 7s 6d, £2 15s, £2 17s 6.1; store cows, 10s, 11s, 14». Dairy stock. —Heifers (close to profit), £3 10s, £3 15s, £4 2s 6d, £4 ss, £4 7s 6d; later sorts, 37s 6d, £2 7s 6d, £2 15s, £3, ss, £3 7s 6d; springing cows £3. Pigs.—Weanors, 11s 6d, 12s; slips, 13s 6d, 14s, 14s 6d, 16s, 17s 6d; stores, 245, 255, 26s 6d ; porkers, 295. 30s 6d, 32s 6d, 345, 365, 36s 6d; baconers, £2 6s, £2 7s, £2 Bs, £2 15s. SYDNEY WOOL SALES. GENERAL EASING IN PRICES. SYDNEY, Sept. 12. At the wool sales to-day, 12,525 bales were offered, of which 11,079 wore sold at auction; also 657 bales privately. Compared with the opening rates of the series, prices are now from pur to 5 per cent, lower for all best fleeces and .skirtings; from 5 to 10 per cent lower for good to average Jots, and 10 per cent lower for inferior descriptions. Keen competition still prevailed to-day, Japanese buyers being most prominent, with lair support from Yorkshire and the Continent. CHICAGO WHEAT FUTURES. ’ NEW YORK, Sept. 11. Chicago forward wheat quotations are: September, 91 7-8 cents per bushel; December, 83£; May, 94£. Now York, cash, 1 dollar 20 7-6 cents.

FOREIGN^EXCHANGE. ON NEW ZEALAND CURRENCY BASIS. The, Bank lot New South Wales, Wellington, quoted the following rates for tlicur purchases and sales of foreign exchange yesterday: New Zealand Buying. Selling.

O.D. 211 23g T.T. represents telegraphic transfers. O.D. represents on demand transactions. The above rates are subject to alteration without notice. The Associated Banks (other than the Bank of New South Wales) quoted the following dollar rates yesterday on a

New Zealand currency basis. They are subject to alteration without notice. U.'S.A. Canada

WELLINGTON STOCK EXCHANGE. YESTERDAY’S BUSINESS AND PRICES. Very little movement in prices occurred in the Wellington stock and share markets yesterday, tho few sales recorded running at late rates, with the exception of Broken Hill Proprietary, which weakened to business at 65s 9d, buyers staying in at 64s 9d and (sellers quoting 665. There was very little demand for industrial and trading issues. Gear Aleut were reported sold at 21s 6d and several parcels of New Zealand Refrigerating, 10s paid, at 9s lid. Southland Meat wore firmer at 77s 6d and Colonial Sugar hardened to £43, with no offers from sellers. Howard Smith were quoted 2d down at 17s lOd. Anthony Hordern improved to 19s 4d, sellers coining in at 19s 6d. Pukcniiro Collieries were wanted at 255. New Zealand Breweries were easier at 51s 3d, sellers bolding foils more. Other issues showed no change. Government loans were in strong request at steady rates. Banks were dull, business being reported in Commercial of Australia at 16s 8d and 16s Ed and New Zealands at 15s. Dalgcty. wore firm at £8 9s, sellers £8 12s 6d, but Goldsbrough Alorts cased 3d to 31s 6rl, sellers 32s 3d. New Zealand Guarantee Corporation were easy at ss, sellers 5s 4d as were Mortgage Corporation at 6s Id, sellers 6s 4d. YESTERDAY’S QUOTATIONS. The latest Buying and selling quotations recorded yesterday on the Wellington Stock Exchange were as follow: —

THE RESERVE BANK. ASSETS AND LIABILITIES. NO AJAJOR CHANGES. WELLINGTON, Sept. 13. The weekly statement of assets and liabilities of the Reserve Bank of New Zealand as at. the close of business oil Monday, September 9, is as follows: — LIABILITIES.

Proportion of reserve' (No. 8 less No. 6) to notes and other demand liabili-

ties, 96.67 per cent., compared with 96.56 per cent, on September 2. No very marked changes are shown this week. A decrease of £51,379 in the notes issued, brings the total down to £8,805,445. Government deposits amount to £10,745,863, an increase of £72 074. The deposits of the trading banks show a decrease of £6603, the item totalling £3,977.783. Other demand liabilities at £89,643, show a decline of £34,807. Other liabilities have increased by £4917, and now stand at £63,731. ' On the assets side, sterling exchange at £20.030,999, shows a small increase of £5067. Subsidiary coin is lower by £1143, the total now being £219.669. Gold at £2,801,732 10s, and investments at £2,102,858, are still . unchanged. Other assets total £27,205, a decrease of £19,722. The statement balances at £25,182.464 12s 3d, a decrease of £15,797 14s sd.

on London — £N.Z. to £stg.l00 ... T.T. 124 124/10/0 Australia — £A to £N.Z. O.D. 123/10/D 124/8/9 100 T.T. 101 100/10/0 Fiji— £F. to £N.Z. O.D. 101 100/10/0 100 T.T. 90/7/6 89 New York — Dollars to O.D. 90/7/6 89 £N.Z.l . T.T. 3.993 3.953 Montreal — Dollars to O.D. 4.01 3.963 £N.Z.l . T.T. 4.003 3.97 France — Francs to £1 O.D. 4.02 3.97' N.Z. . T.T. 60.86 59.56 O.D. 61.16 59.61 [lorig-Kong— N.Z. pence . T.T. 293 30 13-16 to 1 dollar Japan— O.D 291 30J N.Z. pence 17 13-16 to 1 yon . .. T.T. — Shanghai— N.Z. penc-g O.D. — 17 51-64 to 1 dollar . T.T. 211 23 3-16

(per £1 N.Z.)' (per £1 N.Z.) Sell in cr — dols. dols. T.T. ... 3.95g 3.961 O.D. ... Buying— 3.96£ 3.971 O.D. ... 4.001 4.011

I: •livers. Sellers. N.Z. GOVT. LOAN'S— £ s. d. e cS. d. 4 p.c. Bonds 1937-40 ..102 0 0 — 4 p.c. Bonds, 1943-4t> ...105 15 0 — 4 p.c. ditto, 1946-49 ...109 15 o no 10 0 4 p.c. ditto, 1952-55 ...112 4 p.c. Rural Bonds, 0 0 1947 106 5 0 — 3i p.c. Ins. Stk., 1939-40-43 104 15 0 3i p.c. ditto, 1939-49-52 1C8 15 0 — -31 p.c. ditto, 1938-40-43104 15 0 — 4 p.c. ditto, 1937-40 ... — 102 5 0 4 p.c. ditto, 1943-46 ...106 15 0 107 10 0 4 p.c. ditto, 1946-49 ...109 15 0 — 4 p.c. ditto. 1952-55 ...112 DE B 10 NT URLS — 0 0 — Wright, Stephenson, 41 p.o. perpt 99 0 0 101 0 0 Ditto, 4 p.c., 1940 ... — BANKS— 101 0 0 Control, of Aust 0 16 6 0 16 9 Eng., Scot, and Auist. — 5 14 0 National of N.Z — 3 13 6 National of Australasia, .95 paid — 7 0 0 New South Wales . 32 5 0 33 0 0 New Zealand 2 10 9 2 11 2 Reserve Bank of N.Z. — 6 10 6 Union of Aunt FINANCIAL— — 9 8 6 Dalgelv and Co 8 Equitable Bldg. Co. .. 2 9 0 8 12 6 17 6 5 0 0 Farmers’ Co-op. A net . Coldsbrough, Mort and — 4 5 0 Co 1 11 6 1 12 3 National .Mortgage — 2 14 0 N.Z. Guarantee Corp. 0 N.Z. Loan and Mere., 5 C 0 5 4 ord. stock 35 0 0 38 1U 0 Well. Invest., T. & A. — 0 10 0 Well. Trust, Loan ... — 6 0 0 Well. Dep. and Mtgo. 0 5 0 0 6 8 Mortgage Corporation 0 Traders’ Finance 0 6 1 0 6 4 3 0 — Wairurapa Farmers. prof 0 Wright, Stephenson, 1 9 - 19 9 GASGisborne —• 0 12 6 INSURANCE— National of N.Z — 1 0 10 — 3 0 0 South British 4 13 0 Southland 3 17 6 — MEAT PRESERVINGN.Z. Refrig., £1 paid 1 0 8 1 0 11 Ditto. 30s paid 0 9 10 0 10 0 Southland 3 17 6 — TRANSPORT— Union Steam, prof. ... 1 WOOLLEN— 7 3 — Wellington, pref COAL— — 6 7 6 Pukemiro *1 TIMBER— 5 0 — Rotoiti 0 5 1 — Taupo Totiira — 0 7 10 Ditto, prof — 0 19 9 Ditto, 16s ....pref. ... — 0 15 3 BREWERIES— N.Z. Breweries 2 11 3 2 12 3 Tooth and Co — 2 16 3 0 18 0 MISCELLANEOUS— Anthony Hordern 0 19 4 0 19 6 British Tobacco Broken Hill l’tv., cum — *2 0 3 rights 3 4 9 3 6 0 Burns, Pliilp and Co. . 7 0 Claude Neon (Sydney) — 2 13 6 Colonial Sugar 43 0 0 — Cion. Brink and l’ipe — 0 11 6 Dunlop Pcrdriuit — 0 15 0 Electrolytic, 8 p.c. part ttrof. 1 9 Howard Smith, ord. .. 0 17 10 Sliarland and Co., ord. Wilsons N.Z., Cement — 1 4 0 — 2 2 3 Woolworths N.Z., ord. — 5 17 0 Pro cor a Bread, vendor Smith and Smith, — 2 1 3 prof 1 1 3 MINING— Big River 0 1 10 0 2 2 1 16 0 Gillespie’s Beach — *0 1 1 Golden Sands 0 2 6 0 2 11 3 0 0 3 4 King Solomon *0 3 0 3 6 Maori Gully — 2i 0 1 0 Skippers 0 Wailii 0 0 1 0 17 3 0 Waihi Grand Junction — 0 4 3 Mount Lyell — 0 19 0 Mount Morgan *1 18 0 1 19 0 Bundi Tin — 1 7 6 *Oum. dividend.

£ s d 1. Paid-up capita! 500,000 0 0 2. General Reserve Fund . 1,000.000 0 0 3. Rank notes 8,805,445 0 0 4. Demand 'iabilities — (a) State 10,745.862 16 0 (It) Ranks 3,977,783 2 11 (c) Other ■ 89,642 17 11 5. 'l ime deposits ■ 6. Liabilities in currencies other titan N.Z. cur rcucy 7. Ollier liabilities 63,730 15 5 £25,182,464 12 3 ASSETS. 8. Reserve — £ s Cl (a) Gold 2.801,732 10 0 (b) Sterling oxeharige . 20,030,999 0 11 (u) Gold exchange — 9. Subsidiary coin 219,668 17 5 10. Discounts— (a) Commercial a n cl agricultural bills ... — (b) Treasury and local bodv bills —* 11. Advances — (a) To the State or State undertakings . — (b) To other public anihoritics —- If.) Other — 12. Investments 2,102,858 11 5 13. Bank buildings ' 14. Other assets 27,205 12 6 £25,182,464 12 3