FARMING AND COMMERCIAL

Manawatu Standard, Volume LVI, Issue 141, 16 May 1936, Page 4

FARMING AND COMMERCIAL

COMMODITY MARKETS AND

TRADE.

STOCK AND SHARE MARKET. (By “Penloo.”) Trading on the Stuck Exchanges of the Dominion during the week has been normal, with no outstanding features. It is to be noted, however, that investors show a preference lor industrial shares, glit-edged securities being neglected. This preference for industrial shares can be understood, lor most of the joint-stock companies have put out good balance-sheets, showing larger profits, and in not a few cases bigger dividends. But the return, or yield on capital invested is still very small. Investors are beginning to realise that it is not all plain sailing. The legislation passed, and to lie passed by Parliament is causing considerable concern. it is realised that higher wages will increase costs, and as most of the companies whose shares arc on the Stock Exchange list are industrial, the increased costs must have an adverse effect on profits. Of course the manufacturing concerns could increase the selling price of their goods, but in that case there would be a tendency for sales to contract, which would mean a smaller turnover, less profits and lower dividends. These possibilities have not escaped the attention of investors, who realise that share values must be affected by the higher wages, which is not confined to any one industry, but is general. Being,general it will mean having to pay more for raw materials and distribution services. The overdrafts of companies, except in some isolated cases, must he greater, and interest will add to the costs of production. The tendency of industrial share values will be downwards, but this may not become apparent lor some months, until the higher wages take effect. NEW ZEALAND APPLES. New Zealand apples are now reaching London m quantities, but the niaikec is attected uy heavy arrivals from Australia; m oilier words the market is glutted, and that being so prices are not likely to advance. New Zealand apples and fruit from everywhere is niailieted at Covent Garden, which is the leading limit market of London. it was once a walled-in convent garden belonging to Westminster Abuey and used by the monks. In the reign of Henry Vlll it came into the possession of John Russell (Earl ot Bedford), a member of the household of Thomas Cromwell; about a hundred years .later Charles II granted a descendant of the first owner a charter allowing it to be used as a market for the” sale of fruit and vegetables. And such a market it has continued to be up to the present. Its fortunes, of course, have varied in that long period, but now it enjoys acknowledged prosperity, for three main reasons: Eirst, the increase in population; secondly, the substitution of motor transport for horse traffic; and, thirdly, the widespread success of the “Eat More Fruit” campaign. But perhaps the most potent cause of the general prosjierity of the Garden is modern transport. Fruit may he seen every day of the yveek leaving the Garden not only for the rest of ttm Home country, including AAales, Scotland and Ireland, but also for the Continent. Three or four days a week supplies are auctioned I rum all parts. Uie following figures in tons—piuoabiy underestimates —will give some idea of tile quantity dealt with at these auctions: In 19lu, lt)'J,u3f : in 192 U, (13/,650 ; in 1925, 6(0,308; in 1928, at least IjUUUjUOO, and to-day well over i,(juU,UOU. These statistics exclude the very large amount of trade transacted in premises outside, but adjacent to the market, the total of which may he estimated also at I,OUO,UUO tons yearly. The owners of the market, the C’ovent Garden Properties Company, Limited, have, in recent years, inane considerable improvements to the locality. LONDON WOOL SALES. The sales in London show that the market has eased slightly, and the auctions are only fairly active. Crossbred wool appears to be in good demand because of the continued political tension in Europe. As a matter of fact, there has been a good demand during the past nine or ten months lor greasy clothing crossbred slipes, scoured fleece, pieces, locks and crutchiugs. it seems that the woollen trade can pay 15 per cent, more than topmakeis, although what the former take is in some cases only half, or even less than a quarter the length of staple combers need. It is reported from Bradford that woollen manufacturers have used heavily from their stocks during March and April. They have also’ cleared out most of the suitable lots held by Bradford merchants. 1 THE WOOL POSITION. An English opinion recently expressed is to the eli'eet that statistically the wool position is particularly healthy, and its strength lias impressed those interested in Yorkshire. Markets in South Africa have benefited by the trading agreement with Germany for the purchase of wool to the value of £3,000,000. It is believed that there is a possibility of further increasing tiade between South Africa and Germany. The greatest departure from the principle of free trade underlying the present agreement was limitation to the fixed amount of £3,000,000 on each side. This is a pure barter agreement, Germany taking wool, and South Africa German manufactured goods. WOOL, COTTON AND SUBSTITUTES.

Prior to the advent of rayon, cotton was regarded as the chief competitor with wool lor the world’s textile trade. Flannelette particularly was used in place of woollen materials. With the manufacture of rayon in large quantities, and latterly also staple fibre, the competitive effects of cotton have drifted ’ into the background; in fact it is more or less regarded as an ally with wool in the way to combat the consumption of artificial products. At with wool, however, it is a question of the degree to which the artificial fibres have displaced cotton. AVool has passed into consumption freely, its statistical position being very strong. It is certainly advisable to keep a sharp eye on competitive fibres. Large quantities of rayon are being utilised, particularly in womens fabrics and hosiery. Staple fibre, which is rayon cut into suitable lengths for spinning bv itself, or in conjunction with wool and cotton, is also finding greater use, hut the world’s textile needs are expanding and have further great fields for extension, particularly, in the East. Russia is also increasing her importation of wool. On the’evidence available the world has found consumptive room for all the textile fibres it has produced, but no person call state what the future holds. No fibre produced at present provides the elasticity of wool, and garments made from artificial fibres are not able to regain shape as is the ease with those made from the sheep’s- staple. In addition they do not provide warmth, and the larger proportion of the world’s people who live under modern condi-

FEILDING STOCK SALE.

LAMBS IN DEMAND,

There were fair entries of all classes of stock at yesterday’s stock sale at Feilding. Fat sheep showed little difference compared with last week’s quotations, and lambs were in demand at late rates. Boner cows sold well, while there was activity in the store cattle market. Quotations: — Dairy cattle.—Spg. cows, £2 os, £2 10s, £2 15s, £3 12s Gd, £3 15s, £4 7s 6d, £5 2s (id, £5 os, £5 12s Gd, £5 los to £6; spg heifers, £4 12s Gd, £4 los, £4 17s Gd, £5, £5 7s Gd, £5 los, £6, £G 2s Gd.

Store cattle. —Cows, 235, 245, 235, 28s, 30s, 325, £2 Is, £2 4s, £2 los, £2 18s, £3, to £3 11s; weaner heifers, los, 35s to £2 17s; A.A. heifers, £4 7s, £5 Is; steers, £4 4s,to £4 7s; run heifer, £4 4s; A.A. steers. £5 Bs, £7, £7 10s; Hereford steers, £5 12s Gd to £7 15s; Hereford cows, £4; S.H. steers, £4 15s; S.H. heifers, £4 os; S.H. cows, £3 12s; heilors r.w.b., £3 10s; empty heifers, £2 15s. Fat cattle. —Cows, £2 17s Gd, £3 ss, £3 6s, £3 los, £3 17s 6d, £4, £4 2s Gd. £4 17s Gd, £5, £o 10s, £5 los, £0; steers, £3 12s Gd, £4 13s, £5 11s; heifers, £4 12s Gd, £5 12s Gd ; vealers, 375, £2 18s, £3 ss, £3 7s, £4 ss; runner, £2 16s. - o i Fat sheep.—Fat ewes, los Id, lis 3d, 18s Id, 19s lid, 20s, 21s. 21s 9d, 22s 6d, 245; lambs, 18s 9d, 20s, 21s Gd, 225, 22s Gd, 235, 27s 3d; wethers, b.f. 2-tlis, 22s Gd; others, 23s 3d, 24s Gd, 26s 6d. Store sheep.—Wether lambs, 10s 9d, 11s, 12s Gd, 14s 10d, 16s, 17s Gd, 17s 9d ISs 3d. 18s lOd; b.f. lambs, 14s, 14s Gd, los Gd, 16s 4d. 16s 9d; ewe lambs, 16s 3d, 19s 7d, 21s 7d, 235, 245, 25s lOd, 2Gs, 27s 9d; m.a. ewes r.w. S D. rams, 21s 3d, 26s 9d ; 6-tli to 4-yr do., 29s to 335; 2-tli to 5-yr do., 235, 28s 9d; 4 and 5-vr do., ]Bs lOd, 19s Gd, 22s lid to 28s; f.m., 12s, 14s 3d, 16s 2d, 19s 9d: empty ewes, 6s, 10s Bd, 13s, 14s, 14s Id. Horses.—7-vr gelding, £5; age<l_gelding, £5; aged gelding, all work, £7 15s; pony, £l.

AUCTIONEERS’ REPORTS. Abraham and Williams, Ltd., report good pennings at yesterday’s Feilding sale, with the tone in practically all sections of a buoyant nature. 'I ins factor was partly due no doubt to the ideal weather conditions over the past week. Some extra good lines of breeding ewes were submitted and for these the demand was strong, poorer, doubt-ful-agc lines still being difficult to quit. The demand for both ewe and wether lambs was also keener than has been the case over the past few weeks. Eat slieep of all classes sold freely, values being on a par with last week’s- rates. An average penning of dairy cattle came forward, with the demand sound at last week’s rates for good sorts. Quite a fair yarding of run cattle was submitted, these meeting with good competition with values quite tip to recent rates. The beef section was comprised of cows ex dairy with hardly any prime sorts offering; consequently, values were inclined to he easier. Quotations:— Fat sheep: Fat ewes, 18s Id, 18s 2d, 2l)s, 2ls 7d, 22s 6d ; fat wethers, 275; fat lambs, 18s 9d, 19s 6d, 19s lid, 20s, 21s, 21s 4d, 21s 9d, 225, 22s sd, 23s 4d, 245. Store sheep: B.f. lambs, 14s 6d, 17s, 18s 3d; w.f. lambs, 14s 1 (Id ; Corriedalc lambs, 11s, los; wether lambs, 12s lid, 16s 2d; ewe lambs, 24s Kid, 26s 4d, 27s 9d; 2-tli to 5-yr ewes r.w. S.D., 28s 9d; f.m. owes r.w. S.D., 12s, 16s 2d. Fat cattle: Vealers, 375, £3 os; Jersey steers, £5 11s, £4 13s; cows, £2 12s 6(1, £2 17s 6d, £3, £3 7s Gd, £3 10s, £3 17s 6d, £4, £4 2s Gd, £4 7s 6d, £4 12s Gd, £5 2s Gd. Store cattle : Wur. Jersev heifers, £2 17s ; cows, 20s, 235, 255, 365, £2, £2 Is; £2 4s, £2 2s 6d, £2 ss, £2 10s, £2 12s Gd, £3 Is, £3 4s, £3 11s. Station cattle: P.A. heifers, £4 4s, £5 Is; ylg. P.A. steers, £4 7s Gd; 2f-yr P.A. steers, £7, £7 10s. Dairy cattle: Spg. cows, £2 los, £5 los, £6; spg. heifers, £4 12s 6d, £4 los, £4 17s Gd, £5, £5 7s 6d, £6 2s 6d. The N.Z. Loan and Mercantile Agency Co., Ltd. report a large yarding of sheep and a fair entry of cattle. The quality ol lambs and wethers yarded was hardly up to that of the last sale, fat lambs selling firm at late rates, while fat wethers were mainly oil the light side and prices were down about Is per head. Fat ewes were also down about Gd to Is. A large yarding of good quality lambs met with a firm sale at prices in advance of last week’s rates. A medium entry of breeding ewes also met with keen competition, good quality ewes in particular meeting with a keen demand and selling freely at prices in advance of recent sales. Only a small number of store cattle were yarded. Prices for steers were easier, good young stock and heifers maintaining late rates. The enquiry in the dairy section advanced, especially for select cows and heifers. Quotations.—Fat lambs, 18s lid, 20s 3d, 225, 235, 24s lOd, 25s 6d to 26s 8d ; fat owes, 16s, 17s 9d, 19s 8d to 20s 6d; fat wethers, 24s 9d. 25s 3d, 26s Id to 27s 6d. Wr. lambs, 15s 6d, 15s 9d, 16s, 10s 9d, 17s, 17s 2d to 17s 6d ; b.f. lambs, 13s, 14s 4d, to IGs 9d; ewe lambs, 21s 7d, 22s to 24s Id ; breeding ewes r.w.s.d. rams, 6th and 4yr. 200 at 295; 4 and Syr, 100 at 235; 150 at 25s 4d, 260 at 28s 2d; syr, 120 at 21s 6d ; fattening ewes, 12s 6d to 14s Id ; store 2th wethers, 23s 9d ; springing heifers, £3 10s, £4 15s to £5 17s 6d ; springing cows, £3 15s, £4 17s 6d to £5 los and £6 2s 6d ; weaner Jersey heifers, £2 to £2 15s ; fat dairy cows, £3 2s 6d, £4 to £4 15s; fat P'.A. heifers, £6 2s 6d; fat P.A. cows, £6 to £6 15s; empty P.A. heifers, £5 7s; store cows, 30s, £2, £2 10s to £3 2s.

Dalgety and Coy., Ltd., report: A good entry of fat sheep and lambs came to hand, for which competition was .sound. Fat ewes for fattening were inclined to be a. little erratic. Store sheep entered comprised several large lines of wether hoggets; competition was not over-brisk at the auction, but satisfactory sales were made privately. There was a strong enquiry for ewe hoggets, of which tlie offering comprised only small medium lots. Breeding ewes were yarded in'larger' numbers, and with some better quality showing through ; good sorts sold under keen competition. A special entry of 6-tooth and 4-year ewes nil account of Mr FT. T. Clover, Alakino, realised 365. This was an attractively bred and well conditioned lot. There were many pens of small lots and hoggets and ewes, which sold fairly well. The yarding of cattle was not a heavy one. Beef met with a ra.ther steady sale. Run cattle were penned in small' numbers, hardly sufficient to gain a full line on the market. Dairy cattle sold steadily at recent rates. Quotations are: —Fat- lambs. 19s lid 20s 20s 3d. 21s, 21s 9(1, -24 s 6d. 27s’3d; 'fat wethers, 23s 6d, 26s 6d; fat ewes, 17s 3d, 21s. 21s 6d, ~3s Gd , fat 8.1). ewes, 22s Gd ; wether hoggets, 17s 9(1, 18s 10(1; ewe lambs, 22s 6d; b.f. lambs, 13s 3d, 19s; wether lambs, 12s 6d ; breeding ewes, r.w. S.D. rams,

tions dwell in the colder climates. Artificial fibres mixed with wool do not give the same good wearing fabrics as the genuine woollen article.

19s, 21s 3d, 26s 9d; 2th ewes, r.w. S.D. rams, 335; 4th ewes, r.w. S.D. ram, 31s 3d; 6th and 4yr owes, r.w. S.D. rams, 365; 4 oyr ewes, r.w. S.D. rams, 22s lid; store ewes, 4s, 12s 9d; wethers, 25s 2d. Jersey heifers, r.w.b., £2 15s 9d, £3 Is, £4 17s 6d, £5 12s 6d; dairy cows, r.w.b., £3 12s 6d, £3 los, £4 7s 6d, £5 2s 6d; £5 os; weaner heifers. 15s, 17s Gd; store cows. £1 14s, £2, £2 3s, £2 10s, £2 18s, £2 19s, £3 Is, £3 3s, £3 os; empty heifers, 275; Hereford heifers, £5 12s 6d; P.A. steers, £5 8s; P.A. heifers, £4 7s; Vealers, £2 18s, £3 7s, £3 8s; P.A. vealers (steers), £4 os; fa.t cows, £3 ss, £3 15s, £3 17s Gd, £4, £4 2s Gd, £5, £5 ss; dairy sorts, £5 10s,. £6; fat heifers, dairy sorts, £5 12s Gd; fat steers, dairy sorts, £3 12s Gd; runners, £2 IGs. MANGAWEKA SALE. Dalgety and Coy., Ltd., report on their Mangaweka sale last Thursday: Our entry comprised 870 breeding ewes and hoggets, and we report a total clearance. Although some well-grown wether hoggets were included in the offering the main portion comprised smaller sorts. AA'e quote:—Ewe hoggets, 18s .3d, 21s, 24s 7(1; wether hoggets, 10s Bd, 15s 10d, 17s Id, b.f. hoggets, Its Gd, 12s Id. 16s; emptv 2-th ewes, 245; breeding ewes, 20s, 22s Gd, 25s 7d; wethers, 235, 23s Id. The N.Z. Farmers’ Co-op. Distributing Co., Ltd., report a yarding of 900 sheep and 260 cattle at the Mangaweka sale •on Thursday. Prices were more or less on a par with previous sales. AVe quote: —Good s.m. ewes r.w. Rom. ranis, 28s 2d, r.w. S.D. rams, 23s 3d, 23s 9d, 25s to 26s 6(1; medium ewe lambs, 20s to 20s 4d ; fwd. w.f.w. lambs, 15s Id. 16s to 16s 3d; good medium, b.f. lainbs, 14s; smaller sorts, 10s; 2th wethers. 23s Id. P.A. cows r.w. P.A. bull, £4 15s; fat heifers, £4 19s to £5 11s; 2)yr P.A. heifer, r.w.b., £4 10-s; rising 2vr steers, £6 18s Gd ; S.H. weaner steers, good, £5 ss; fat cows, £5 10s to £0; m.s. weaners, £3 As; P.A. weaners, £4 8s; forward cows, £2 15s to £3; in calf Jersey heifers, £3 15s to £4 ss. TAIHAPE SALE. Abraham and Williams, Ltd., report: A good yarding of 2800 slieep, comprised principally of wether and ewe lambs, was submitted at the Tailiape sale and we report practically a total clearance at values satisfactory to vendors. Quotations: —Ewe lainbs, 22s 6(1. 23s 7d, 24s 2d. 255, 25s 6d, 26s 3d to 275; wether lambs, 16s. 16s 6d, 17s, 17s 3d, 17s 9d, 18s, 18s 9d, 10s 8d ; fat wethers, 235, 23s 6d, 245, 24s 9d, 255; 2th wethers, 2tls to 23s sd; fat ewes, 18s Gd. 19s, 20s to 21s._ Cattle: Fat cows, £3 15s, £4 to £5 7s 6d; weaner steers, £4 os; weaner heifers, £3.

DAIRY PRODUCE. Joseph Nathan and Co., Ltd., have received from London the followmg cabled advice, dated May 14: —New Zealand butter, 945. Market very firm. A. S. Paterson and Co., Ltd., received cabled advice as follows:—Butter market firm. New Zealand, 945. Australian. 935. Danish 81s f.0.b., 102 s landed. Cheese market steady. New Zealand, white, 57s Od; coloured, 55* to 55s 6d. 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 market firm. New Zealand, finest, 93s to 945; firsts, 92s to 935. Australian, choicest, 92s to 935; first grade, 91s to 925. Danish, spot, 100 s; f.0.b., 82s. Cheese market firm. New Zealand, white. 57s to 57s Gd ; coloured, 55s to 55s Cd.

FARMING NEWS.

RURAL BAKINGS

Recently the Bush Dairy Factories’ Association wrote to the Minister of Agriculture (Hon. AY. Lee Alartin) asking what would be the difference in payments for cheese and butter supplies under the new marketing decree. A reply has now been received stating than an announcement will be made at the earliest possible moment. One of the best prices for fat wethers in lecent months was obtained at the AA'esttield yards this week. AA’ith a combination of a shortage of prime sheep and a keen demand, one pen sold under bright competition at 32s 3d, the highest figure since September. Earlier in the sale a single wether sold for 335.

Owing to the wet season, and lack of sunshine, conditions have not been conducive to best results in the fattening of stock, especially lambs, says a Christchurch paper. Fattening lambs require warmth; it is only on the dry class of land and in sheltered positions that lambs have fattened as quickly as usual. In many instances the rape is done, and Oiose who have suitable late crops ready for feeding have commenced to feed these crops, to ensure getting the lambs away before the freezing works close down. Those who have not a plentiful supply of green crops available aro commencing to feed their late lambs on turnips, where these are available. The rains which damaged the Canterbury wheat crop in the* autumn iaffected oats to a comparatively small extent, as a considerable proportion of-the oats was in stack. It is natural, therefore, that the yield as shown by the progress threshings so far should be high. The figure— 48.11 bushels to the acre —is amongst the highest on record.

RABBITSKIN SALE,

MARKED RISE IN PRICES.

The first rabbitskin sale of the season was held at Wellington yesterday before a good representation ot buyers. The offering comprised clnetiy summers and autumns, with a huge proportion of inferior grades, as is always the case with the first sale ot the season. Prices showed a vast improvement on previous rates, in some eases lower grades bringing treble what they did at the corresponding sale last year. For the few lines of incoming and early winter skins submitted, excellent prices were recorded. On today’s values trappers arc assured ol a profitable season. The following is the range of prices:•—Small, 19d to 22id per lb ; runners and suckers, 30Jd to 30-id ; light racks, 40d to 41 id; prime, did to 41 id ; heavy, to 33R1; summer bucks, «o 3<sid ; summer does, to 29id ;’ milky, 2S»id to 30d; dawny aututnns,', -45.1(1 •' to 453 d ; early autumns, 50d to 67 Jd; second autumns, 52d to 59|d p late autumns, to 71 cl ; first, second, and third broken,^'. 281(1 to 46d; summer F.S. and 8.5., to 31id ; spring F.S. and 8.5., to 33d; autumns, F.S. and 8.5., to 48$<1; winter F.S.,aud 8.5., to 54.p1; spring bucks, -to 43d; spring does, to GGRI; summer black, to 32pi; spring black, to 31d; autumn black, to 48d ; hares, 19d to 19|(1; winter weevily, 36$d to 38Jd; summer weevily, 123 dto 26d; stale winter bucks, to 51jd ; fawns, to 53-id; first incoming, to 92d; second incoming, to 76p1; second winter bucks, to 92d; first bucks, to Hid; first early winter bucks, to 106 d.

SALE OF SOUTHDOWNS.

PARIROA STUD REALISES £6316

SHEEP AVERAGE £l2,

The largest gathering of Southdown breeders yet assembled together in the Dominion paid a remarkable tribute to the popularity of the Pariroa Southdowns on Wednesday last, when this old established stud flock of Messrs Hugh Burrell and Son, “Pariroa,” Feilding, was dispersed at auction at the Feilding Showgrounds. Every part of the Dominion was represented, and one of the keenest sales: on record resulted, bidding being sustained at a brisk rate right through. The Pariroa Hock was established in 1907 and has been noted throughout its history as one of the most notable in the Dominion, having produced champion winners at practically every important Show in New Zealand, and at most of the Royal Shows held here, while the flock successes abroad included the ram championship at the Sydney Royal Sheep Show. The distribution of this famous Hock throughout New Zealand should do much for the general standard ul the breed. Not one single sheep was bought for export, although extensive orders were held on behalf of Australian buyers. In every instance the price level was well above the ideas of Australians, which proved the value placed on high quality sheep by the Dominion’s breedllie sale realised £6316, and the 526 head sold averaged £l2. The averages for each age were:—6B 2-tooth ewes, £l4 17s; 100 4-tooth ewes, £lO 18s; 49 G-tooth ewes, £l4 12s; 40 4-year-old ewes, £ll 18s; 31 5-year-old ewes, £ls ss; 18 6-year-old ewes, £l4 los; 22 aged ewes, ‘£B 16s; 99 ram lamos, £8 12s 4d; 96 ewe lambs, £8 7s 4d; 9 stud rams, £47 11s. The sheep were yarded in good condition, not being pampered in any way; but the flock as usual had been very carefully culled—in tact every ewe was passed when the llock was submitted for inspection to the examiner appointed by the Southdown Breeders Society. Buyers settled down to business immediately and the 212 pens were sold through the ring in less than four hours’ actual selling time. Hie imported ram Aldenhum 865, now a four-year-old, realised 80 guineas, being purchased by Mr Wm. Rayner, Masterton ; his two-year-old son Pariroa 258 went to Mr J. D. Madeley, Kaiapoi, Canterbury, for the top price of the day, 100 guineas; and another of his sons realised 77j guineas, being purchased by Mr AV- Peat, Wanganui. Sensational prices were paid for ewes of all ages. Air Jas. Knight, Feilding, gave G2f guineas, the top price lor a 6-tooth ewe, sired by Pasha and Sir William Perry, Masterton, and Air A. Kirkpatrick, Gisborne, paid 31gns. each for ewes of the same age, while Air D. C. Hoban, le Awaniutu, paid 17 guineas a head for a pen of four ewes of this age Air Jas. Knight would not he denied when it came to the four-year-old ewes, ana bought three in succession at 30, 40, and 45 guineas, two being sired by Champion's Pride and one by Buckland’s Alasterpiece. Evidence, ot the strength of the bidding was indicated quite early in the sale when the Hastings breeder, Air Thus. Alay, paid 40 guineas for tv prize-winning 2-tooth ewe by Aldenhain BGS (imp.) ; the Oakley Estate Ellesmere, Canterbury, 30 guineas for a 2-tooth by the same sire; Air A Kirkpatrick 18f guineas lor a pen of five 2-tootlis by this sire, and the Auckland breeders, Air J. K. belt, Papatoetoe, and Air Rodney Coates, Alatakoi, North Auckland, 15 and 14 guineas respectively for pens of lour. Air John S. Hunt, Pembroke, Otago, paid 31 and 30 guineas each for 4-toqth ewes both sired by Buckland’s l'ashion 3rd. Competition became even more keener as the sale drew to a close, Mr Q. Donald, Featherston, paying 20 guineas each for a pen ol four 5-year-old ewes; Air P. McLaclilan, Opaki, paying the same price for a single ewe; while Mr Peter Cooper paid 25 guineas each for a pen of lour 6 year-old ewes, and Air W. J. Ereeth, Waitara, 20 guineas each for a pen of five. Great prices were paid for the ewe lainbs, Sir William Perry paying oo guineas for a lamb sired by Aldenlnun 865 (imp.) and Air A. Kirkpatrick oO guineas for one by the same sue. The top price for the ram lambs was 65 guineas paid by Air J. D. Aladelej, for one sired by l’as ia a notable champion of his day, while Air C. D. L. Dernier Cheltenham, paid 34 guineas for one sired by Aldenhum 860 (imp.) and Air Donald Ross, Wanganuq 30 guineas for one sired by Pariroa 2oi. The sale was conducted by AV right, Stephenson and Co., Ltd., in conjunction with Abraham and Williams, Ltd., Air C- E. Robertson acting as auctioneer. The detailed sales have been published in the “Standard. CANTERBURY MARKETS. Per Press Association. CHRISTCHURCH, Alay 15. Potatoes are very firm with plenty ot inquiries from all northern poits, f.o.b. sales are being made from £b os to £6 10s, with Sutton’s Supreme at £0 7s 6d. Supplies are not coming to hand very quickly, hut a continuation of fine weather should see increased deliveries. Farmers aro apparently not really sellers of large quantities at the moment. The Ivaretu loaded 2300 sacks from Timaru this week and 0400 from Lvttelton. Inquiries are still being received from Auckland lor shipments ’ahead. June futures are quoted at £6 10s a ton f.0.b., with practically no business being done. There is no much moving in the onion market, and as far as one can gather quotations remain the same as last week, at £5 10s to £6, f.o.b. North Island markets appear to be better supplied than was anticipated, and at the moment are not looking to the South for their requirements. Growers would be wise not to build too heavily on any immediate prospects ol Sydney markets according to advices received locally. The present lias been a very poor season for Canterbury onions for quaiity. and it is problematical whether growers could take advantage of the Australian market in the event of Commonwealth prices materially improving. A better inquiry for chaff is reported, up to £2 15s a ton being paid for lots on trucks at near stations. Good inquiry obtains for feed barley, up to 2s (id being paid for host lines. The markets lor oats and fowl wheat are quiet, with prices unchanged, and the same can be said of small seeds.

WELLINGTON POULTRY MARKET. AYELLINGTON, Alay 16. Prices of live poultry in the AVellington market this week are quoted as follow: Fowls.—AYhite Leghorns: Hens, Is 9d to 2s each ; cockerels, 2s 6d to 3,s 6d ; pullets, 3s 6d to 4s; Black Orpingtons: Hens, heavy, 3s Gd to 4s 6(1 each; medium. 2s 6d to 3s; cockerels, heavy, 4s to 4s Gd ; medium, 2s Gd to 3s. Ducks. —Indian Runner: Young, 3s to 3s 6d each; old, 2s to 2s 6d. White: Heavy, 3s Gd to 4s 6‘d. Geese. —4s to 4s Gd each. Turkeys: 9d to lOd per lb.

EXPORTS OF WOOL.

LARGE INCREASE THIS SEASON.

WELLINGTON, May 16. Shipments of wool from New Zealand during the 10 months of the 1935-36 season, ended April 30 totalled 821,583 bales, which is probably a record for the Dominion. This represents an increase on the exports for the corresponding period of last season of 303,377 bales, or 58,54 per cent. Of the 10 months’ exports, Wellington alone accounted for 168,328 bales.

Returns compiled by Dalgety and Co., Ltd., give the following comparison of wool exports for the 10 months’

periods of this and last season :

Shipments of wool during April totalled 175,029 bales, of which 140,047 bales were of greasy wool, and 34,Jobales slipe and scoured.

SHEEPSKINS AND HIDES.

WELLINGTON PRICES EASIER

Prices of sheepskins and hides showed an easier tendency at the sale held yesterday by the Wellington brokers. A rather smaller offering than usual of sheepskins was submitted, and was disposed of under keen competition, prices being a shade easier than last sale’s quotations. Salted skins showed little change. Fair supplies of hides were brought forward, exporters and tanners taking the bulk of the offering. Prices of heavyweights declined bv Id to Jd per lb, medium and lightweights by id to Jd. Yearling and kip were in demand and showed an improvement of about id per lb. Calfskins remained fair. An average offering of tallow found prices slightly easier. The range of prices is as iollows: Dry sheepskins.-—Halfbred, 7d to 10id; fine crossbred, 9d to 10iil; medium, BJd to 95d; coarse, 3d to 9d; half wools, 7Jd to 9£d; quarter wools, Oid to 9d; pelts, 6d to Bd. Salted skins.—Quarter wools, 4s 6d ; half wools, 6s 3d; three-quarter wools, 6s 9d; lambs, 3s Id. Hides. —Ox, 331 b to 441 b, 4id to 5 3-8 d ; 45ib to 521 b, s|d to 7 3-8 d ; 531 b to 591 b, 7 3-8 dto Bid: CO to 691 b. 7d to 8 3-Sd ; 701 b and over, 7id to Bid; cow, 331 b to 391 b, 3Jd to sid; 401 b to 481 b, 4id to 5Jd; 491 b and over, 4Jd to 6 3-8(1; kip, 251 b to 321 b, 3id to 7 5-8 d ; 17Ih to 241 b, 7 5-8 d to 9 3-8(1; yearling, 111 b to 161 b, Sd to lOd; calf', 91b to 101 b, lOd; 61b to 81b, 9i(l to 13 5-8(1; lib to 51b, 5d to 13 A cl. Tallow.-—ln casks, etc., 21s; in tins, 12s. Sundries.—Cow-tails, 125(1; horsehair, 15d to 18id. SHEEP STEALING. Per Press Association. DUNEDIN. May Jo. In the Supreme Court to-day. Alexander William Robinson, aged 52, and bis son, John William Robinson, aged 25, were each sentenced to 15 months’ reformative detention on charges of sheep stealing, conspiring to defraud, and false pretences. The Crown Prosecutor said that sheep stealing was causing considerable concern to the police and farmers generally. Only recently a deputation of farmers had waited on tfae police for the purpose of endeavouring to discover ways and means of preventing the growth of this crime and to detect it. It was a crime which the police found very difficult to detect, particularly because of the fast moving motor truffle by which slieep were reFOREIGN EXCHANGE. ON NEW ZEALAND CURRENCY BASIS. Tho Bank of New South Wales, Wellington, quoted tile following rates for their purchases and sales of foreign exchange yesterday: — New Zealand Buy’ng, Selling.

T.T. represents te.egraph’c transfers. O.D. represents oii demand transactions. 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. (per (per £1 N.Z.) £1 N.Z.) Selling— doK dois. TT 3.97| 3.981 O.D 3.98 g 3.99 a BUJ O"d 4.02 i 4.031, moneymaeket. BANK OF ENGLAND RETURNS. LONDON, Slay 14. The following is the Bank of England return IgsuE DEPARTMENT. £ Notes in circulation 424.800.000 Notes in banking department ... 39.500.000 Other Government securities ... 247,800.000 Other securities 300.000 Silver coin 900,000 BANKING DEPARTMENT. £ Rest 3.200.000 Public deposits 13,400,000 Bankers’ deposits 83,200.000 Other accounts 37.000,000 Government securities' 89,900,000 Discounts and advances 8,800,000 Other securities 12,300.000 Notes and coin . 40,300,000 Ratio of reserve to liabilities 30.18 per cent. The Bank of England discount rate remains unchanged at 2 per cent.

WELLINGTON STOCK EXCHANGE. YESTERDAY’S BUSINESS AND PRICES. There was a more cheerful tone in the Wellington stock and share market, which, in a number of sections, was firm and active. Business was brisk aiid gains were made by several issues. The following list gives the sales recorded yesterday, the number of shares being shown in each case : —SOOO shares I user. Stock, 34 p.c., 1939-52, £lO3 1/s 6d*; 100 British Tobacco, £1 19s 10Jd ; 150 Broken Hill Tty., £3 2s 10*d*; 250 Jnscr. Stock, 4 p.c., 1946-49, £104; 23 Bank of Australasia, £ll 19s; 25 Bank of N.S.W. (4), £33; 150 Bank of N.Z., £2 5s Gd; 200 Union Steam, pref., £1 7s; 400 Bonds Hosiery Mills ,2), 19s 2d; 250 N.Z. Breweries (2), £2 13s 3d; 200 Staples and Co., £1 14s 3d; 100 Australian Glass, £4 9s lid; 400 G. J. Coles to), £3 15s; 100 Woolworths (N.Z.), ord., £6 10s; 300 Mount Morgan (2), 15s 2d. YESTERDAY’S QUOTATIONS. The latest buying and selling quotations recorded yesterday on the Wellington Stock Exchange were as follow: — Buyers. Sailer;.

YESTERDAY'S SALES. Wellington.—lnscr. Stock, 3i p.c.. 1939-52, £lO3 17s 6d" ; 4 p.c., 1946-49, £104; Bank Australasia, £ll 19s; Bank of N.S.W. (4), £33; Bank of N.Z., £2 5s 6d ; Union Steam, pref,, £1 7s; Bonds Hosiery Mills (2), 19s 2d; N.Z. Breweries (2), £2 13s 3d; Staples-and Co., £1 14s 3d; Australian Glass,. £4 9s lid; British Tobacco. £1 19s lUid* ; Broken Hill Pty., £3 2s 10jd* ; G. J. Coles (5). £3 15s; Woolwovths N.Z., ord., £6 10s; Mount Morgan (2), ,15s. 2d. “Late sale Thursday. Auckland.—l user. Stock. 4 p.c.,' 15/4(49, £104; 4 p.c., 15/6/55, £106; E., S. and A. Bank (2). £6 3s Od; N.Z. Insurance, £3 Os 6d, £3 0s 9d; South British Ins., £4 9s 6d; Mortgage Corporation, 10s 3!d; Auckland Gas (3),£1 6s Id; Kauri Timber,. £1 3s. 10d;. Dominion Breweries, £1 3s; N.Z. Breweries (4), £2 13s Id; Australian Glass (4), £4 9s 3(1; Broken Hill Pty., £3 2s f)d, £3 3s; Colonial Sugar, £4l 15s; Consolid. Brick, 9s 9d; D.T.C., pref., £1 3s 3d; Dnnlop-Perdriau (2), 16s 3d; Farmers’ Trading, 9s 6d; G. J. Coles,£3 15s; Farmers’ Fertiliser, £1 Is ; Wilson’s Cement, £2 3s 6d, £2 4s 3d ; Woolworths (N.Z.), ord., £6 10s, £6 12s'6d, £6 10s; Mount Lyell, £1 4s lid; Big River, 2s Id; Golden Crown, 9s 6d; Martha Mine, £1; Talisman Dubbd, 11s 3d. Christchurch.- —Bank of N.Z. (2), £2 5s sd; N.Z. Insurance, £3; Mortgage Corpn. (2), 10s 3d; N.Z. Breweries, £2 13s 3d ; British Tobacco, £2; Broken Hill Pptv., £3 2s 9d ; Consolid. Brick, i 9s 9d; Dnnlop-Perdriau, 16s 2d, (6) 16s 3d; G. J. Coles, £3 14s 9d, 12) i £3 14s lid. £3 15s Od. £3 15s 7d; i Mount Lyell, £1 4s 4d; /Maori Gullv, I lid. Sales reported; Bank of Australasia, £ll 17s 6d; E., S. and A. Bank, £6 3s 6d*; National Bank N.Z., £3 13s 6d; N.Z. Breweries, £2 13s 2d, £2 1 13s 4d; Hume Pipe (Aust.), (2). 17s 2d; /Mount Lyell, £1 4s 4d; Argo Gold, | Is .spl; Martha Gold, £l. *Late sale Thursday. , Dunedin.—Bank of N.Z., £2 6s** : , Dalgety and Co., £9 2s 6d; N.Z. Breweries, £2 13s 3d; Broken Hill Pptv., £3 2s 9d, £3 2s lOd, £3 3s; Gillespies Beach, Is 3d. *Late sale Thursday, moved.

1035-36. 1934-35. Bales. Bales. Invercargill 60,065 36,240 Dimed in 97,287 56,582 Ouniaru 2,047 3,525 Timaru 46,627 36,505 Christchurch 96,718 75,882 Blenheim 4,776 1,971 Nelson 1.118 864 Wellington Wanganui 168,328 100,981 76,940 44,954 New Plymouth 2,271 1,742 Napier-Waikokopu . 131,614 .81,054 GisborneTokomaru Bay 33,814 26,495 Auckland-Opun 95,978 51,411 Total 821,583 518,20B

Oil London — £N.Z. to £st«.100 ... T.T. 124 124/10/0 Australia — £A to £N.Z. O.D. 123/10/0 124/8/9 100 T.T. 101 100/10/0 Fiji — £F. to £N.Z. O.D. 101 100/10/0 100 T.T. 90/7/6 85 New York — Dollars to £1 O.D. 90/7/6 89 N.Z T.T. 4.01| 3.97/, Montreal — Dollars to £1 O.D. 4.021 3.98 N.Z T.T. 4.024 3.932 Franco — Francs to £1 O.D. 4.03i 3.99i N.Z . T.T. — 60.09 IIong-Kong— N.Z. pence • O.D. 60.13 . to 1 dollar . T.T. 18 13-16 20 5-16 Japan — N.Z. pence O.D. 18 23-32 20 9-32 to 1 3’en .... . T.T. — 17 41-64 Shanghai— N.Z. pence O.D. 171 to 1 dollar T.T. 17 3-16 18 9 16 O.D. 17 18 35-64

N.Z. GOVT. LOANS- £ fi. d. £ 6. d. p.c. Inscr. Stock, March, 1939-43 ... ..101 15 0 103 2 6 3i p.c. ditto Sept., 1939-43 .101 15 9 103 2 6 3i p.c. ditto, March, 1941-43 .101 15 0 — 3j p.c. ditto Sept., 1941-43 .101 15 0 — p.c. ditto, 1938-52 +101 15 0 102 10 0 4 p.c. ditto, 1937-40 .102 5 0 103 0 0 4 p.c. dilto, 1943-46 .103 10 0 — 4 p.c. ditto, 1946-49 .103 15 0 — 4 p.c. ditto, 1952-55 .105 12 6 — 4 p.c. Bonds, 193Y-4U .102 10 0 — 4 p.c. ditto, 1943-46 .104 0 0 — 4 p.c. ditto, 1946-49 .104 0 0 T* 4 p.c. ditto, 1952-55 .105 17 6 — 5 p.c. ditto, 194Y ... .103 0 0 — DEBENTURES— Amalg. Brick, Wei..7i p.c., 31/3/44 .... 100 10 0 BANKSAustralasia .. 11 19 0 12 0 0 Comrcl. of Aust., or d. — 0 19 10 Ditto, pref .. 9 5 0 — Control. Banking Co., Svdncy .. 30 0 0 20 11 0 Eng., Scot, and Allot. 6 0 0 6 3 9 National of N.Z. ... .. 3 12 6 3 14 0 Now Sou tli Wales . . *32 17 6 33 5 0 Now Zealand ... 2 5 0 2 5 6 Ditto, D long term .. 1 9 9 1 10 6 Union of Aust ... 9 12 0 9 18 0 FINANCIAL— Abraham and William s, prof — 5 0 0 Equitable Bdg. Co. ... 0 10 0 0 12 0 Goldsbrough, Mort and Co .. 1 11 3 — Mortgage Corporation 0 10 0 — N.Z. Guarantee Corp. 0, 5 4 0 5 6 Well. Invest., T. & A. 0 9 0 — Well. Trust, Loan ... 5 4 0 — Newton King, pref. ... 0 6 0 — GAS— Gisborne ... 0 7 0 0 8 6 Wellington, ord ... 2 0 3 — INSURANCE— Standard 3 4 0 MEAT PRESERVING — Gear Meat — 1 0 2 N.Z. Refrig., £1 paid 0 18 9 — Ditto, 10s paid ... 0 9 1 0 9 6 Well. Meat Ex., pref. 0 17 6 1 0 0 TRANSPORT— Huddart, Parker, ord. — 1 17 9 Huddart, Parker, pref. 1 7 0 1 9 0 Union Steam, pref. ... *1 6 9 1 7 3 Kelburn Tramway — 1 7 9 WOOLLEN— Kaiapoi, ord ... 0 15 3 0 15 9 Manawatu — 1 17 0 Wellington, ord ... 6 2 0 — Oamaru ... *1 1 6 1 2 6 Bonds Hosiery Mills . 0 18 10 0 19 6 Grey Valley .. 0 10 0 — Kaitangata 1 5 0 Pukerniro 6 ■— TIMBER — Kauri .. 1 3 9 1 4 3 Lovland-O’Bricn ..11 0 1 3 6 Taupo Totara, ord. .. 0 10 0 — BREWERIES— N.Z. Breweries .. *2 13 1 2 13 6 Staples and Co .. 1 13 9 — Tooth and Co .. *2 12 1 — Tui ..2 3 6 — MISCELLANEOUS— Anthonv Hordern ... .. 0 19 6 0 19 10 Aust. Glass .. 4 8 9 4 9 6 British Tobacco ..2 0 1 2 0 5 Broken Hill Ptv. ... .. *3 2 6 3 3 0 Burns, Philp and Co. *3 9 6 3 11 0 Claude Neon Lights, N.Z — *2 3 0 Colonial Sugar .. 41 2 6 42 10 0 U.I.C., ord .. 0 15 6 — Ditto, prof — 1 3 6 Dunlop Perdriau ... 0 16 0 0 16 4 General Industries ... 0 19 0 0 19 6 G. J. Coirs .. 3 15 0 3 16 0 Howard Smith, ord. .. 0 16 6 — N.Z. Drug ... 3 17 0 — N.Z. Paper Mills ... .. *1 9 0 — Wilsons N.Z., Cement 2 2 0 2 5 6 Woolworthe N.Z., oi d. 6 9 0 — Ditto, prof — 1 17 0 Hume Pipe .. 0 17 0 0 17 3 Drug Houses (Aits ..) - 1 10 9 Donaghv's Rope ... 2 11 6 — Amalg. V ircless ... 2 9 9 — Victoria Laundry ... — 1 2 6 MINING— Big River ... 0 2 0 0 2 3 Gillespies Beach ..0 1 2 — Golden Sands — 0 2 9 King Solomon 0 3 0 Martha .. 0 19 6 — Mossy Creek .. 0 1 3 0 1 7 Waihi Investments — 0 11 5 Argo Gold .. *0 1 4 ■— Antonies ..0 0 6 — Mount Lvcll .. *1 4 4 1 .4 6 Mount Morgan .. 0 15 1 0 15 4 *Cum dividend. +Ex di\ idend.