COMMERCIAL.

New Zealand Herald, Volume LXI, Issue 18657, 13 March 1924, Page 5

COMMERCIAL.

LONDON PRODUCE MARKET. (BUTTER AND CHEESE PRICES * (By XEtEGEAPH.— ASSOCIATION.] WELLINGTON. Wednesday. The Department of Agriculture has r*>J ceived the following.,. cablegram, dated 1 March 8, from the High Commissioner for New Zealand. London " The demand for butter and cheese has I r.ot been stimulated by the reduced prices, and the market is alow. Danish is selling largely to America and Germany. | Butter.— market continues slow. Official quotations - are:— Zealand,: finest) salted, March 8, 180 ato 184s percwt; exceptional, 186s; March 1, 186s to 190s; unsalted, March 8, 180s to 184fl; March 1, 186s to 190s; other qualities, March 8. 160s to 178s. Australian, salted., finest, March 8, 170s to 1745; March 1. 178s to 182s; unsalted, March 8, 170s to 1745; March 1, 174s to 180s; . other qualities, March 8, salted, 150s to 168s; unsalted* 150s to 1668. Argentine. March 8, 160s to 1625, up to 1645; March 1, 162s to 1665; ether qualities, March 8, 140s to 158s. Danish. March 8. 212s to 2145 ; March 1. 214 a; exceptional, 2165. Cheese.English ' finest farmers' is scarce, and prices, are steady.", Canadian is scarce,, and prices nominal. There is fair inquiry, for New Zealand, and heavy supplies have caused further - reduction in; price. English, , finest farmers', March 8, 142s to 146s per cwt. New Zealand, finest, March . 8, coloured and white. 86s to 88e; March 1, coloured and white, 88s to 925. Australian, finest and fine, March 8, coloured and white. 80s to 84s. . Casein.—Buyers are holding off in anticipation of lower prices. French rennet, £58 to £80 per ton. Argentine lactic, £46 to £49. Hemp.-— Manila market closed weak under pressure of sellers, and limited support. ."J" grade January-March shipments sold early this week at £38 10s; FebruaryApril shipments, £38 ss. Present quotations are: February-April shipments, £88, March-May shipments, £37. sellers. The New Zealand market is unchanged. Wool.—The Bradford market continues firm. The demand from Germany is a reason for a; slight, rise in prices all round. Tops: 64's (Merino), 14s to 18s per case; 56's (super halfbred), 4s; 40's prepared (coarse crossbred), 2s 2d. Apples.Business is going on as usual, and all sorts are selling freely. Newton Pippin, 14s to 188 per case: Stayman's Winesap, 12s to 15s; Spitaenburg. 14s to 168.

KEMPTHORNE PROSSER AND CO. DIVIDEND OF 10 PER CENT. . The annual report of Kempfhorne, Prosser and Company's New Zealand : Drug C 0.,, Ltd., for the year ended January 31, states that the net profit was £42,252 17s lOd, to which the addition of the balance from the previous year, £17,871 25,: makes a total of £60,123 19s 10a. An interim dividend at 4 per cjjit. for the half-year absorbed £16.000, The directors propose to pay a further dividend of 4 per cent, and a bonus. of 2 per cent., absorbing £24,000, and making a total distribution of 10 per cent. The balance to be carried forward is £20,123 19s lOd. Following is a comparison of the company's results and appropriations for the last three years:— 1922. 1923. 1924. Brought forward £15.675 £16,768 —17,87.1 Net profit .4 32,921 87.100 42,253 Dividend— . » ' ' . Rate p.c. .. 8 9 . 10 Amount .. .. 31,828 35.997 40,000 Carried forward £16J68 £17,871 £20, HUDDART - PARKER, LTD. DIVIDEND DECLARED. Advice has been received that the directors of Huddart-Parker, Ltd.. have declared a dividend for the half-year ended TVyjAmber' 31. 1923. of 3 per cent, on _ preference shares and 5 per cent, on ordinary shnres. with a' bonus for the year of 2 per ctent. on ordinary shares. . The dividend will be payable on March 22, v ' THE BUTTER MARKET. LOWER LONDON PRICES. ' [by telegraph.— COIffiFSPONDENT.] \ ; HAMILTON, Wednesday. The weekly cablegram received by the New Zealand Co-operative Dairy Company from its London manager, Mr. J. B. Wright, states' that Anchor butter dropped to 186s. and others of the company's selling first grade, down to 180s. , Danish f.o.b. fis selling _ at 208j. The :■ message attributes the c fall of . the • Ntew .. ■ Zealand butter to selling being overdone by a multitude of weak holders. The, company a proportion for February was only one-sixth of the total, which wis not sufficient to fen able Mr. Wright to hold up the market. Mr. Wright intimates that he twice tried to .turn .the market, but the weight of butter outside his control was too great. Substantial arrivals of Australian butter have accentuated the depression. Danish, shippers are Bending considerable quantities to America and Germany, thereby inducing quantities for England, _ ; •■■■•- -• Mr. Wright complains that advertising propaganda is very badly needed: at present, as the margin between. New Zealand and Danish butter is-ridiculous. The retail price for Ntew Zealand is Is lOd. and for Danish 2s. The cablegram states that the company'* London , organisation is now selling a considerable quantity of butter in lib cartons. ; : Cheese has slightly firmed . sitter, an acute weakness. Present prices . 'are:— White. 88s: coloured, 90s. Considerable, sales have bteen made at 86s. No immediate recovery ; is expected The New York market is reported to be difficult. The London retail price is lOd and lid ifer lb. MEAT FROM ARGENTINA. FORTNIGHTLY SHIPMENTS. ' [BX TELEGRAPH.—PRESS ASSOCIATION.] WELLINGTON, Wednesday. The New Zealand «Meat Producers' Board has received a cablegram from.its representative at Buenos Aires advising * that the following meat shipments were made to the , United Kingdom from the Argentine for. the fortnight ended March 8:—112,500 quarters of chilled beef. 22,944 quarters of frozen beef, 54.992 carcases of frozen mutton, and 44,058 carcases of frozen lamb. \uie quantity . shipped to the Continent of Europe during \tne same period totalled 47.851 quarters of frozen beef, 5720 carcases of frozen mutton, and 863 carcases of , frozen lamb. . STOCK SALES. AUCKLAND ' The New Zealand Loan and Mercantile Agency Company, Limited, report, > We held sales during "the past, week at Westfield, Ngatea, Clevedon. and Pukekohe. We report good V sales, with prices ft late quotations. We quote: Best dairv cOws end. heifers, £9 ,to. £14; others, £5 to £3 168: aged cows and inferior heifers. £2 to £4 15s. bulls, £1 to £4; empty Gown, £1 to £1 17s 6d'-. beef at fully . Westfield quotations; weansr calves, best. 15a to £1 7s 6d; others, 9s« to 14s; yearling to 18-months heifers, £1 5s to £2 ss; yearling to 18-months steers, £1 15s to £2 7s 6d; 2 to 2i-yeajr steers. £2 10s to £3 6s: 3 to 31-year steers, £3 I*. fid to £4 10s; 4 to 6-year steers. £4 15s to £5 15s. „ . . . ' ■ - , We held sheep fairs at Clevedon and Tuttkau, prices improving considerably on the opening fairs. We, quote: 4-topth ewe«. £1 7s to £1 lis: 2-tooth ewes. £1 6s 3d to £1 30s 6d; 6-tooth to f.f.m. ewes,, ±1,4s to £1 9s; f.m. eyes, 18s to £1 3s; inferior ewes. fis ■ 6d • to 17s:' store lambs. 15s; to IBs for best; others, 10s to 14s 6d. . At Westfield fat stock market on Wednesday; beef was penned-in average JiUmbers, and sold at improved values. - We quote: Extra choice oxen to "268 per lOOlb.; choice and prime o*oll from 21s to 25s per 1001b.; plain and unfinished oxen from 17s to 20s per 1001b.; * prime young . cow and heifer beef, from 20s to 24s per WOlb. : ; other cow beef, from 15* to 19s per lOOlb.: rough beef, from 12s to 16s . per JOOlb.: heavy prime steers sold at from £10 to £11' "17s' Gd : medium prime steers sold at from £8 to iJ 17b 6d; light prime steers sold at from £6 10s to £7 17s fid; smaller and . unfinished utter*. : «4 5s to £6 7* 6d: heavy prime cows and heifers, £6 to £7 .10s; extra heavy, to I £8 17b fid; medium prune cows pnd heifers. , £4 15s to £5 17s 6d; light prime cows and heifers. £3 30s to £4 30s r forward fleshy I cows, £2 5s to £3 ss: , other cows, £1,. 5s to £2. Calves. were penned, in large numbers, prices being easier. Runners, £3 to £4 Is; heavy vealers, £2 8s to . £2 17s; medium vealers, £1 8s • to £2 . 6s: iicnr. vealers £1 to £1 : 69; small, 10s to 18s: rough rnlves, 12s to £1. Sheep were penned in small . numbers, and iniproved in values considerably on last wfks sale. We quote; Extra heavy prime wethers, to £2 ssr medium prime wethers, £1 15s 3d to r £1 18s 3d; lifrht prime wethers. £1 lis to £1' 14« 9as | small A and unfinished wethers, £1 6s 3d : to £1 10s 6d; heavy prime ewes, £1 X 0» to £1

148: medium prime uwes, £1 6s 6d to £1 9s 6d!: light prime ewes, £1 3s to £1 6a; in-feriorly-fatted. ewes, lis to £1 Is 6d. Lambs .were penned m. small; numbers, and sold at late quotations. Heavy prime, £1 6s to £1 &s fid; medium, £1 8s to £1 5u 9d: light. £1 Is to £1 2a 9d; store : lambs, 12s to 18s; Pigs penned in less than average numbers, sold _at advanced rateij. '.Choppers. £3 10s to £4 8s; > heavy and misdium baconers, £4 to £4 £«; light baconets : and heavy • porkers, to £3 18s: medium and light porkers, £2 .Loe to .£3 lis. Store pigs were penned in small numbers, and sold at late auotationn. Large stores, £1 5s to £1 10s: - slips, 19s to £1 3s; weaners, 8a to 15s.

Alj.red Buckl&ud and Sons, Ltd.. report:— At the Haymarket on Friday last we had an average yarding of horses. Competition was dull, nines > for all clashes showing remaining about the same ;as in recent reports.

. During the week we. held sales at Westfield., Ivumeu, Wellsford, W».iuku, and C4«v«*.pu." Average sterdings Shave come lorward and all classes of cattle sold at ruling prices. Sheep are firmer in price. Best dairy cows at profit, £12 to £14 15s; good., cows, £9 to £11 10s; ordinary cows, £5 to £8 10s; aged and inferior, £1 up wards: best springing heifers,- £7 to , £10 lOh : - others,, £4 to £l» 10s; small heifers in calf. £2 10s to £3 10s; empty young cows, £2 to £3 2s 6d; store cows, £1 to £1 15s; fat .sows and heifers, £3 to £7 fis; light fat stee.rs, £6 10s to £8: three to four-year-old steers, £3 10s to £4 10s: two to three-year-old steers, £2 10s to £3 10s; yearling steers. £1 JOs to £2; eighteen-month heifers, £1 10s to £4 10s. according to breed and quality calves, £1 to £1 8s; smaller calves, 15s to 19s; small calves. 10s to 14s; fat and forward wethers, £1 10s to £1 13s: store wethers. .£1 5s to £1 9s: f.-full mouth ewes, £1 2s to £1 Sa 3d; older ewej. 17b 6d to £1 Is; woolly lambs, 15s to £1; smaller woolly lambs, lie w to 14s; beet shorn lambs, 14s to 17s; smaller shorn lambs. 9s to Ms 6d.

Yesterday at our weekly "VP'estfield fat stock market we penned fat cattle to - the number of 645 bead, comprising 312 steers, 291 cow and heifers, ana 42 bulls. There was a keen demand and ; with a further advance in values. Extra choice ox sold to £1 6s per 1001b: choice and prime ox, £1 4s to £l 6s 6d: ordinary and plain ox, £l 2s to £1 3s 6d; prime young cow and heifer beef, £1 Is to £1 lis; ordinary cow beef, 17s 6d to £1; rough beef, 8s to 15s; extra heavy prime steers ranged in price from £11 15s to £12 ss; heavy prima steers, £10 to" £11 10s; lighter prime steers. £8 10s to £9 17s 6d; light prime steers, £7 10s to £81 7b 6d: unfinished and small, £3 to £7 ss; extra heavy prime young cows and heifers, £8 to £8 17s 6d; - heavy prime young cows and heifers. £6 to £7 15s: lighter, £4 10s to £5 15s: other cows, £1 to £4 ss; bulls and stags, £1 to £6 15s. There'was an exceptionally short yarding of sheep. Several cor.si®nment« failed to ■ come forward, and in consequence there was a sharp rise. Extra heavy prime wethers sold at £2 8s 9d; . heavy prime wethers., £1 17s 6u to £2 Os 6d; n.odium to. heavy prime wethers, £1 15s to £1 17s; heavy prime ewes, to £1 17»; lighter prime ewes, £1 3s 9d to £1 13s; other ewes, £1 8s to £1 'Bs. (558 sold). Lambs were penned in full numbers and sold readily sit last week's quotations. Extra heavy prime to £1 14s 6d: heavy prime, £1 58 to £1 8«i; lighter prime, £1 2s to £1 4s 9di light prune. £1 to £1 Is 9<l; unfinished, 14n to 19s 6d (509 sold). Fat and, young calves were again penned in large numbers, values for all classes remaining about the same. Heavy veslers brought from £2 3s to £3 &>: medium vealers, £1 10s to £2 2s; light vealers, £1 4a to £1 17ii: small and fresh dropped, 7s to £l Is (!127 sold). An average yardinsr of pies met with steady con petition at values ulightlv exceeding those ruling last week. Heavy baconers, £4 2s to £4 128* light end medium, £3 LOs to £3 17s: heavy porkers. £2 19s to £3 7b; light and mixlium porkers. £2 7s to £2 16s; choppers made up to £3 19s. Store piss are wanted. Weanew sold up to £1 Is (376 sold).

HAMILTON. The Farmers' Co-operative Auctioneering Company, Ltd., rtport: At Hamilton on Tuesday we had (in average yarding of sheep and cattle, hut. pigs were not so well Rented. Competition for ■ beef was excellent.throughout, beet cows making from £5 lis to ill 7s: medium weights, £4 10s to £& 10a; light weights. £4 to £4 15s. Other classes of store cattle also showed improvement. Store cows made to 355; 18-manth steers, medium quality, £2 5» to £2 10b. The demand for sheep was bo good, values for fats being much above the late standard. Light wethers sold from 29s to c'Ss; good ewes, to 3£s: best lambs (forward), 17s to 3:8s? medium store lambs (shorn), 13s to Ids: small. 8s 6d to 10s 6d; breeding made from 19s 6d to 218s 3d: cull ewes. 9s. Competition for pigs was very . strong, an advance all over being experienced. Beat baconers made to £4 ss; medium freights, £3 5s to £3 12s 6d; porkers, £2 10s to £2 "178 Gd; light, £2 to £2 7e Cd; slips, from lss to £1; weaners, 9s. ADDINGTON [bt TKLEGBAPH. —PRESS association.] CHRISTCHTJRCH, Wednesday. At the Addington market; there - were heavy yardings of store sheep and moderate ones of other stock. The rain gave a stimulus to store sheep. 0 The demand for fat lambs was easier by Id per lb, and ( fat sheep and catlile were a - shade >. firmer. Store Sheep.— th.e< same sized entry as last week, but a proportion of shipped sheep wai» much heavier, ' principally , from B'awke's Bay and Marlborough. Ewes sold well: at the opening, but eased »t the finish., Lambs were about the same as last week,, but wethers isere 2s a head lower. ■ Good two-toothed halfbred ewes made to 875,. Small two-toothed halfbred ewes,. ■ 325; 'fchreeguarter-bred two-toothed ewes, 27b 6d, to ills; good four, six and eight-toothed Romney cross . ewes, 28s 6d to 82s 3d; lower-conditioned four, six and eight-toothed Romney cross Bwes, 24s 6d to 275; cull four, sis: and eight-toothed ewes, 20s .6d to 23s ' 6d; four, six and eight-toothed • halfbred ewes, 31s. to 33s 6d; ! four and five-year-old halfbred ewes, 25s 6d to 299; fail-ing-mouthed halfbred ewes, 22s 'to 2Gs: lowconditioned liomney cross ewes; sound and failing mouth, 17» 6d to 21s; good forward lambs, 21s to 235; ordinary, lCs 6d to ' 19s 3d; medium,; 14s 6d to 165,; small and inferior, lis to 13s 6d; specially : good : mixed sexed halfbred lambs,. 25s Gil; inferior , halfbred ©We: lambs, 20s 6d to 225; good four and six-toothed wethers, 23u to 245; ordinary, 19s to 32s 6d; inferior, 17s 6d to 18s 6d. - V Fat ' Lambii.—A small yarding of 2650, and an easing in values oil up to Is per head. Extra, prime lambs, 36s ; 6d; prime, 80s to 335; medium. 26s 6d to 29s 6d; light, 23s to 265.

- Fat Sheep.—A smaller yarding and _ a better sale for prime sorts. Freezing weights were unchanged. Best wethers made ■ 6id to 6Jd per' lb: medium; 6ld: beat ewe, 6d to sid; .medium, 4§d. Extra prime wethers, 30b 9d; prime, 32s 6d to 35s Gd; medium, 28s: ;Gd to 8!!s; inferior, 25s 9d to 28s; extra prime ewes. 37s 9d; prime 26s to 80s: medium. 22s 6d to 25s 6d; light, 19a 6d to 225: aged. 17s to 19s. Fat Cattle.A slightly ' smaller entry which included a bigger showing of better class steers. Values for these were 10s to 20s per , head better than last week, but other classes we:re if anything easier. •• Best beef made 29s to 325; medium and inferior, 27s 6d down to jlss per 1001b. Extra prime steers, £.16, Ss; prime, £11 10s to £14 10s ; medium, • £9- to £11 ss;- light, ->5 - 10s to £8 10s; extra prime heifers. , £10 - 7s. 6d; prime, £6 to £8 16s; ordinary, £3 10s to £5 10s; extra prime cova; £11 2s 6d: prime, £5 IBs to £8; ordiniiry, £3 5s to £5 ss; old, £2 12s '6a .to £3. ■ sVealers.—An overflow entry of good quality, which sold well, but inferior was neglected. Runners. £4 :15s; : vealers, £2 10s to £3 sft; good calves, £1 5s to : £ ss:. small calveei, 4s "to 115s. ; Store "Cattle.-^- deluge of cows, mostly rejected cows from fat pens. Sales ; were hard to make. Three-yeir-old steers. £3 10s to £4 4s; jfearlings, 10s to 20«; yearling heifers. 15s ltd 28s; best cows, £2 to £2 15s: medium,, 25i» to 30a; inferior, 20s. Bulls, £4 10s. Dairy Cattle.—-A better market for springers or cows in profit. Best springing heifers. £9 5s -to £10; medium. £6 to £7: good third and fourth calvers, £7 10s to £12; old cows, 25s to £2. ; Fat Porkers were easier and baconers firmer, Choppers. £2 to £5; hwavy baconers, £4; 5s to £4 15s-; extra heavy, £5; average price per lb. 6d to 61d. Light porkers, £2 Bs4o £2 17s; heavy, £3 to £3 6s; average price per lb", 8d to •'Slid. • • Store Pigs.—A slack demand. Weaners, 8s to 14s; small stores, 18s to* 255; medium, 30s to 355; bows in pis. £2 10s to £4 12s 6d. ' I-'" ' - -■■■■■ -,■■■■■■■ '■ "