COMMERCIAL.

New Zealand Herald, Volume LXI, Issue 18663, 20 March 1924, Page 5

COMMERCIAL.

LONDON PRODUCE MARKETS. BUTTER AND CHEESE PRICES [BY TELBGKA.PH. —PE.ES3 ASSOCIATION. ] WELLINGTON. Wednesday. The Department of Agriculture haa received the following cablegram, dated March 15. from the 1 High Commissioner for New Zealand, London:— Butter. market remains depressed and the demand is slow except for Danish for which prices are maintained by steady demand. Official quotations —New Zealand; Salted, finest. March 15. 170s to 1725. up to 174s per owt.; March 8. 180s to 186s; March 1, 186s to 190s. TJnaalted: March 15, 170s to 1745, up to 1765: March 8, 180s to 184s; March 1, 186 a to 190s. Other qualities: March 15, Baited. 146n to 168s? Australian: Salted, finest. March 15. 156 a to 160s. exceptional 1645; March 8. 170s to 174 a; March 1. 178s to 182s. Unsaltod.:' March 15, 156 a to 160s?, exceptional, 1645; March 8, 1708 to 1745; March 1, 174s to 180s. Other qualities, March 15, salted. 130s to 1545: unsalted. 140s to 1525. Argentine: Finest. March 15, 146 a to 150s, exceptional. 1525; March 8, 160 a to lG4s; March 1. 162s to 1665. Other qualities: March 15. 126s to 1445. Danish (slow): March 15 and 8. 212s to 2145: March 1. 214s to 2165. Cheese.The market is auiet but there is a steady demand. English in firm and New Zealand Quiet. Official auotations are: —English: Finest farmers, March 15. 140s to 146s per cwt.; March 8 and March 1, 142s to 1463. New Zealand: Finest and fine. March 15, coloured, 84s to 86s, exceptional. 88s, white, 84s to Btis; March 8, coloured and white, 86s to 88a; March '.L, coloured and white, 88a to 923. Shipments of New Zealand produce arrived this week by the Hurunui, Ruapehu. Athenic, Karamea and Port Hacking. Hemp.—The market for Manila opened dull but closed somewhat stronger. "J" grade. January-March ■ shipments, sold at £37 to £37 10«: March-May shipments were quoted at £37 and values. The output of Manila for February was 286,000 bales as against 231,000 for the corresponding period last year. Stocks in Manila are 154.000 bales against 133.000 for last year. Stocks in Great Britain are 14.500 aurainst 5500. The New Zealand market is auiet and auotations are unchanged. Wool.—The Bradford market fluctuates but prices are unchanged except ' for 40's prepared (coarse crossbred). 2s 2;Jd. Eggs.—The weather is more favourable and increased supplies are cominir forward. Buyers are holding off in anticipation of lower prices. Quotations —English. Irish. Danish and Dutch. 14s 9cl to 17s 6d per long 100; Belgian, Italian and Syrian, 14s to 15s 6d; Moroccan and Egyptian, 10s to 12s 3d. BOOTH, MACDONALD AND CO. YEAR'S LOSS OF £24,165. NEW PROPOSALS IN VIEW. A loss of £24,165 is shown by the accounts of Booth. Macdonald and Co. for the year ended December 51, 1923. For the first time in its history the company had to announce ,an adverse balance for 1922. The loss on trading was £35.513, to which was added the amount of £5520. paid in interim dividends on preference shares at 3 and 31 per cent, respectively, making a. total of £40,833. > Against this were set the credit balance from the 1921 account, £3517, and the whole of the income tax find general reserves. £20,005, leaving a debit balance of £17,310. With last year's losses, the balance-sheet shows a debit balance of £41,475.

,In their report, the directors state that there was quite an appreciable increase in turnover, and the gross profit shows a gratifying _ advance. But the increase was insufficient to produce a satisfactory fin balance, although the actual lose on the year's trading waa considerably reduced. General trade conditions have undoubtedly improved somewhat, but the improvement has been slower than was anticipated, and the effects of the slump on the fanning community are still very much in evidence. The payment of land and income tax. £8374. in addition to ordinary taxation, £2230, has imposed a heavy penalty on the year's earnings. Acting under the advice of the auditoTa, and m view of all the circumstances, the directors considered it prudent to allocate an unusually large amount for bad and doubtful-debts, also to write off a considerable sum for depreciation of working plant, in addition to some further writing down cf stock and the setting aside of provision to- debenture tax and certain insurances. .The directors are giving serious consideration to a plan for placing the company on a more satisfactory basis, concerning which, the report states, shareholders will be consulted in due course. Owing to changes in the form of the profit and loss account, a detailed ■ comparison is not possible. That for 1922 showed revenue from trading account, transfer fees and dividends from other companies as £38,201; the last account shown a revenue from these sources and from "profit on sale of property," £60,514. General Administrative expenses, including taxation, and provision for depreciation, were £75.738, against £78.134 in the previous year, in addition, the company had to meet the charge of £8941. representing interest on 7ft per cent, debentures, free of taxation, tip to 3s in the pound, which were issued in 1922. The balance-sheet shows a debenture tax reserve of £2546. Contingent liabilities include £16.588 preference share dividendsfinal dividend for 1922 . and the whole dividend to 1923. MONEY IN AUSTRALIA. "TIGHTNESS" CAUSING CONCERN. INCREASE OF NOTE ISSUE.

The tightness of tha money market is causing grave concern, says the financial editor of the Sydney Morning Herald. Production is being hampered because sufficient credit cannot be obtained to assist expanding industry. The London balances are large, but with the possible exception of one bank the balances are not abnormally large for the season of thV> year. It is expected that after the present month they will run down till about September. To aid the proeoss, within thte past two weeks the exchange rates have been altered again in favour of imports. Yet there is every appearance of money remaining tight.

The fact is that currency of the amount now in the hands of the banks cannot carry any increase of production and trade at present prices. If there ie to be an increase of production and trade and currency is not to be increased, then there must be a reduction of price's. The aim of the Note Board, apparently, hitherto has been to bring about a return of the gold standard at all hazards. That would mean economic depression and unemployment. How could there be increased production with depression and unemployment? Trade has been expanding, and at thfe same time Governments have taken large sums from the market. ; People ask where the money has gone. It has not gone out of the country, and they . see that the deposits in banks are- mounting. That is the very reason why money is, tight. Every advance made by a bank creates a deposit in that bank or some other bank. As the advances iinorease, so do the deposits. But the power to accept deposits is not unlimited. The cash must be kept at a certain ratio to the. deposits. If that ratio falls below a certain figure, it is the danger signal, and 'bankers must restrict' their advances. By .restricting their advances they prevent their deposits from increasing, and so the ratio of cash to deposits is maintained. In that case, if fresh loans are desired, they can only be granted aa old loans are liquidated..... The writer proposes that an increase of currency should be obtained through the Note Board, buying gold. Ho says:— the Not© Board purchased gold .from the producers, it would give notes in return for the gold. That is how the purchase would be accomplished. The notes would get into circulation, and in the course of bilges!! would flow into the banks, and enable them to add to their reserves of currency. The • increase of. their reserves of currency would result in an increase in the credit they issued. The present jamb would loosen. The production of gold in Australia to-day is of the value of about £3,000.000. If two-thirds of .the production were purchased, ths notes given in exchange would provide for what on present indications is the growth of credits required for the growth ox production and trade in Australia. If it were considered at any time that the issue of notes from the purchases of gold was becoming excessive, buying could be stopped , and the gold sold abroad as at present.. Conditions of production and trade would necessarily be closely observed by the Note Board, in order that there might not bo any overissue, but an issue just sufficient tec finance increasing production. A cable ravage published on Tuesday stated that tft. Note Board had decided to discharge its obligations to the Australian banks incurred in connection with the financing of war gratuHies, the effect being an increase in the note issue of about £4,200,000. With this addition to the amount shown in the latest return, 52,132,621, Ihe note issue 'will be increased to £56,300.000, the highest figure since September, 1921. According, to the latest advices, banking rates in Sydney are as follow:— Discount rates, 5£ to 6} per cent.; overdraft rates, 6 to 7 per cont.; deposit rates, six months, 4 per cent., 12 months per cent., two years 5 per cent. -

HUDDART-PAE.KER, LTD. DIVIDEND OP 12 PER CENT. ■ The annual report of Huddart-Parker, Ltd., for the year ended December 31, discloses a. profit of £130,837. Including interim dividends, a dividend of 6 per cent, on preference shares accounts for £30,000, and a dividend of 10 per cent, on ordinary shares £75,000. A bonus of 2 pes cent, on ordinary shares accounts for £15,000. Total dividends and bonus absorb £120,000. A sum of £10,000 has been transferred to the reserve fund, and £29,055 is carried forward. Following is a comparison of the company's results for the last three years:-— . 1921. 1922. 1923. £ £ £ Brought forward .. 22,684 32,352 28,217 Net profit .. . . 109,718 113,388 130,837 To reserve .. .. — 12,523 10.000 Dividends— ' Preference, 6 p.o. 30,000 30,000 30,000 Ordinary rate p.o. 14 15 12 Amount . . 70,000 75,000 90,000 Carried forward .. £32,352 £28,217 £ 29.055 The reserve fund stood at £550,000 in the 1922 account; £250,000 was capitalised, increasing the ordinary capital to £750,000. The preference capital is £500,000. With the present addition, the reserve fund is £310.000. TIMARU GAS COMPANY. The directors of the Timarn • -Gas Co.. Ltd., at a meeting convened for the purpone, laid before shareholders the scheme under which it is proposed to improve the company's plant by the installation of vertical retorts to take the place of the old horizontal system at present in usa 'Che chairman, Mr. J. P. Newman, stated that this had been found necessary as the output of gas would .very soon be beyond the capacity of the present carbonising plant. He explained the modern system of vertical retorts, a type which is strongly recommended by the company's engineer as the most suitable for erection on the pre-, sent »site. Economy in working and a greater production of gas pci to# of coal is a feature of the new system. The action of the directors in bringing the matter forward and their decision to proceed as early as possible wi|h the installation was fully endorsed by the shareholders present. The necessary expenditure involved will be approximately £25.000, which it is suggested to meet partly by uncalled capi- i tal and reserves arid partly by the issue of short term mortgage debentures. . A tender for the work will shortly be accepted. PERDRIAU RUBBER COMPANY. Shareholders of the Perdriau Rubber Company have been notified by the directors that sales at remunerative prices for the half year ended December 31 showed a record, and that the increase has been maintained to date. A ' dividend at the rat® of 10 per cent, per annum for the half year has been declared payable on March 31. STOCK SALES. AUCKAND. The New Zealand Loan and Mercantile Agency Co., Ltd., report:— ■,rr W e - sales during the past week at Westfield, Warkworth and Henderson, all classes of cattle sailing at late quotations. Wo quote: Best dairy cows and heifers, , £9 to £13 10s; others, £5 to £8 15s; aged cows and inferior heifers, £2 to £4 15s: bulls, £1 10s to £4 10s; empty cows and heifers, £ 1 to £ 1 17s fid; weaner calves, beet £1 to £1 15s, others 9s to 19s; yearlong to 18-months heifers, £1 to £2 10s; ditto, steers, £1 10s to £2 ss; two to 21year steers, £2 7s 6d to £3 ss; three to 81-year ateeers, £3 7s 6-d to £4 10a; four to five-year steers, £4 15s to £5 15s; beef at fully Westfield prices. At Westfield fat stock market on Wednesday beef was penned in large numbers, competition being keen for extra choice quality, which improved in values. We quote: Extra choice oxen, to 27s per 1001b; other classes remained unchanged; choice and prime oxen, 21s to 25a 6d per 1001b; plain and unfinished oxen, 16s to 20b; do., prime cow and heifer beef, 20e to- 24s per 1001b; other cow beef. 16s to 19s: do, rough beef, 10b to 14a per 1001b. No extra heavy prime cattle were penned. Heavy prime steers sold at from. £9 15s to £11 10s; medium, £8 10s to £9 10s; light, £7 to £8 7s fid; smaller unfinished steers, £5 to £6 15s'; heavy prime cows and heifers, £6 to £7 7s 6d; medium, £5 to 5 17s 6d; light, £3 10s to £4 15s; forward fleshy cows,- £2 6s to £3 ss; inferior and poor cows, £1 to £2: bulk, £1 10s to £4. Calves were penned in large numbers and sold at late quotations. Runners, £?. to £3 ss; heavy vealers, £2 10s to £3 3s; medium vealers. £1 17a to £2 9s; light vealers, 21s to £1 16a; smaller, lis to 20ei; small and freshdropped. 3s to 10s.

Sheep were penned in average numbers, selling readily at prices lower than last week's extreme rates. We —Heavy prime wethers, £1 16a to £1 .17s 9d; medium, £1 13s fid to £1 15s Gd; light, £1 lis to £ 1 13s 3d: small and unfinished wethers, £1 7s 6d to £1 103 9d; heavy prime ewes, £1 lis to £1 14s 3d; medium, £1 9s to £1 10s 9d; light, £1 6s 6<i to £1 8s 9d: inferior fatted ewes, 18s to £1 fis. Lambs were penned in average numbers, selling" at late quotations: Heavy prime lambs, £1 7s to £1 lis; medium, £1 4s to £1 6s fid; light, £1 la to £1 ,3s fid; store lambs, best; 16a to 19s, others 12s to 15s. Pigs.—Penned in average numbers, Bold at late quotations: Choppers, £2 Sato £3 10s; heavy and medium baconera, £3 11a to £4 3s; : light baconers and heavy porkers, £2' 13s to £3 10s; medium and light porkers, £2 to £212 a. Store pigs sold at late quotations:—Large stores, £1 10s to £1 18s; weaners, 6s to 18s; slips, 19» to £1 9s. - v

Alfred Buckland and Sona, Lid., report During the weak we held- sales at West* field, Pukekohe, Turua, Tuakau, Helensyille, Pokeno, and Bunciman, and have had average yatdings. Dairy heifers are rather quiet of sale.' All other classes are m demand, and find ready buyers-. Fresh conditioned four to four and a-half-year-old steers, £4 10s to £6; three to four-year-olds, £8 10a to £4 10s; two to eft-year-olds, £2 10s to £3. 10b; yearling steers, £ 1 16s to £2 8s; yearling to 2-year-old heifer®, £1 5a to £3 16s; empty young cows, £2 6s to £3; store cows. £1 5s to £2; calves, 15s to £1 3s: small calves, 9s to 14s; best dairy cows at profit, £10 to £ 14; secondgrade oow», -£6 100 to £9 10s; others, £1 10s upwards; beat Springing heifers, £7 10? to £10 10s; smaller heifers, £5 to £7; small and backward, £2 to £4 10s; fat steers, £7 to £9 17a 6dr fat cows and heifers, £2 15s to £7 17s 6d. A full entry of pigs at Pukekohe on Thursday sold well. Yesterday at our weekly Westfield fat stock market our supply of fat cattle totalled 723 head, comprising 484 eteers, 225 cows and heifers, and 13 bulls. There was again a keen demand throughout, and in odd cases of extra choice ox, values were firmer; other • classeo of ox beef unchanged. but cows were easier in price. Extra choice ox sold to £1 7s per : 1001b; choice and prime ox, £1 4s to £1 6e; ordinary and plain ox, £1 2s to £1 8s 6d; prime young cow and heifer beef, £ to £1 ss: ordinary cow beef. 15s to 19s; rough beef, 8s to 12s; extra heavy primo steers ranged in price from £12 to £14 17s 6d; heavy, prime steers. £10 10a to £11 15a: lighter prime steers, £9 to £10 ss; light prime steers, £7 to £8 IBs; unfinished and small, £4 to £6 15s; extra' heavy prime young cows and heifers, £7 .to £8 ss; heavy prime young cows and heifers, £5 to £6 15s; lighter, £3 10s to £4 15s; other cows, £1 to £3 ss; bulls and stags. £1 10s to £6 10s. Sheep came forward in increased numbers, a total of 2166, compared with 511 last week. There was a keen demand, and although last week's extreme values were not realised, prices were fully 2s to Ss head in advance of those ruling the previous week. Heavy prime withers, £1 15s 6d to £1 17s; medium to heavy prime wethers, £1 13s 9d to £1 15s 6d; light prime wethers, £1 12s to £1 13s 6d; unfinished wethers, £1 9« to £1 lis 6d; stores. £1 Cs to £1 8s 9d; heavy prime ewes, £1 7s 6d to £1 lis; lighter fat ewes. £1 4s to £1 7s; other tillable ewes, £1 to £1 3s <6d; other ewes, 12s to 19s. There was an average yarding of lambs, which sold readily at ruling/prices. Extra, to £1 12s 9d; heavy prime, £1 8s to £1 10s 6d; lighter, £1 4b to £1 7s 6d; light, £1 2s to £1 3s 6d; plain and unfinished, 18s 6d to £1 Is 6d; stores, 14s to 17s 9d (677 sold).

Fat and young calves were again penned in large numbers, values for t<JLI good qualiTy vealoTß remaining about the earn©. Heavy vealers brought from £2 6s to £3 14s; medium vealers, £1 lis to £2 2s; light' vealera, £1 4a to £1 17s: email and fresh dropped, 5a to £1 Is (235 sold). We had an average yarding of fat pig«. and an increased number of stores. Baconers and heavy porkers were about the same as last week, light and medium porkers being ea°'<»r. Heavy hammers, £4 4s to £4 9smedium and light Eaconera, £& 10s to £3195; heavy porkers. £2 18s to £3 6a;. light and medium, £2 Is to £2: 14s; store pigsj slips £1 7a to £1 15a; weaners, 7s to £1 4sbreeding sows. £2 17s 6d to £4 4s: sow and litter, £10 10s; pedigree boar, Signs. (CM. sold). Dalgety and Co., Ltd., report having held their weekly fat stock sale at Weetfield yesterday, as under; Beef.An exceptionally heavy yarding. "Die sale started with prices slightly easier than at the previous sale, but soon improved. Extra choice ox realised in odd cases to £1 7s per 1001b.; choice and prime, 23s to 5:6s per 1001b.; other. 18s to 225. Choice and prime young cow and heifer beef was in keen demand and realised from 23s to £1 58; medium quality, 19s to 22aother,. 12s- to 19s. V Sheep.— heavy yarding. As was anticipated, prices receded from last week's values, but all sheep sold very readily and at prices in advance of those of a fortnight ago. • No extra heavy prim© wethers yarded. Heavy prime wethers made 38s 6d to 355; medium prime wethers, 81fl 6d to 335; light prime. 29$ to 30ai anflaiahed.

37a to 295; heavy prime ewiss, 28s to 80s; medium prima ewes, 26a to 275; others, 12a to 225. Pigs.-—An average yarding sold steadily at late rates Choppers, 80s to £3; heavy and medium baconers, £i, 2s to £4 12s: light baconers and heavy porkers, £3 8s to £4; medium and light porkers, £H 10a to £3 ss, • Calves.A good yarding, prices about on a par with late Quotations. Runners, £2 to £3 sb; heavy prime vealers, to £3 lis; medium vealers, £1 13s to £2 9s; others, 12a to £1 1*259; small and fresh-dropped, 5s to lis. . ' Lambs.A fair yarding, values for prime being very firm.' Prime heavy woolly lambs, to 33a? good fat lambs, 23s 6d to 278; medium, £1 to 235; light, 17s to £1; others, 12s to 16s 6d.

. WAIKATO. The Farmers' _ Co-operative Auctioneering Co., Ltd., Hamilton, report as follows on stock sales held in the Waikato last week:— Th» market for beef is still advancing and brisk competition is met with in all centres. Our report issued at this period last year is in very striking contrast to the present. Values were roughly about 6a per 1001b lees, with a very weak market which did not improve until the middle of May, when a slight advance was recorded. The market for mutton, as indicated, has considerably strengthened and keen competition rules everywhere. In stare cattle the yardings _ continue small, but the inquiry is fast improving An inquiry is also setting in for in calf heifers and seme good sales by private treaty have been recorded. The market for store sheep is very firm, wethers especially being in demand. Lambs are also popular. Although nv,at of the lowland farmers' flocks have been replenished there is still a fair inquiry ft cm the hill districts and good lines of ewea when offered meet with fair competition. The advance in mutton has , improved . the value of cull ewes carrying condition. The market for fat pigs is very firm but stores continue much easier. We quote: Bullocks, heavy prime £8 10s to £30, medium £7 to £8 ss: cows, heavy £6 to £8; medium £4 103 to £5 10s, forward £3 5a to £4, stores £1 10s to £2 10s; steers, 31year forward £5 to £6, stores £4 to £4 15s, 2§-year beet Shorthorn £3 10s to £4, 2i-year medium Shorthorn £2 15s to £3 ss; 18-months steers, best £2 to £2 10s, medium, £1 15s to £2; wethers, prime heavy shorn 30s to 33s 6d, prime medium shorn 28s to 30s; ewes prime heavy shorn 23a to 265; store wethers, 4-tooth, shorn, 26a to 295; store wethers, 2-tooth, shorn, 23s to 265; ewes, 2, 4 and 6-tooth 26s to 30s, 4-year 24s to 27s 6d, 5-year 21s to 245, S.M. 17a to 21s; rape lambs, 17s to 198; store lambs, good 14a to 16a 6d. medium 12s to 13s 6d, small 6s 6d to 10s. Pigs: Baconers, heavy £3 10s to £4 10a, light £3 to £3 10s; porkers, heavy, £2 5s to £2 ICS; good slips, £1 5s to £1 10s; small slips, 18s to £1 3b; weaners, 10s to 16s. Horses: Heavy draughts, £40 to £50; medium draughts, £30 to £35; light draughts, £18 to £22; harness horses, £10 to £15; hacks, £5 to £10. v The 1' armors' Co-op, Auctioneering Co., Ltd.. report;—At the Hamilton stock sale on Tuesday we had , a fair entry of beef, sheep and pigs, there being ' practically no store . cattle _ penned. Beef, mutton and fat pigs again showed a forward movement on last week's report, and store sheep met with good competition. Prime fat steers, 11 12s 6d; heavy prime fat cows and heifers, £8 5° to £8 15s; heavy fat cows and heifers, iv 2a 6d to £7 15a; medium, £ to £ 6 15s; light and unfinished young cows and heifers, £4 10a to £5 10s; forward cows, £3 17a 6d to £4; goodframed store oo we, £2 10b i email, £1 5s to £1 10a; small 18-months empty Shorthorn heifers, 255; steers same age and class, 22s to £2 Is. Good dairy cows, Jersey, close to profit, made up to £11 10s; good Jersey cows in milk, up to £1L Prime heavy fat wethers made up to £2; prime heavy fat ewes, 33a 9d to 34a; lighter, 295; fat lambs (good), 28s; five-year-old to f.m. ewes, 17s lid; small-framed four-tooth to f.f.m. ewes, 23s 6d; a.m. ewes. £1; culls, 115,6 d. Heavy baconers brought £4 6s to £4 7s; medium, £3 10s to £3 17s; good porkers and light baconers, £3 to £3 6s; medium porkers, £2 10s to £2 17s; light and unfinished, 35s to £2 sb; stores, 28s to 335; slips, 15s to 255; weaners, 5s .6d to lis. ■*" " 1 '' ■ , ■ ALDINGTON. [By TELEGRAPH. —PBESS ASSOCIATION - .] CHRISTCHURCH, Wednesday. At the Addington . stock sale to-day, keener business was " the rule for practically all important classes of stock. Store sheep, notably ewes, firmed "Up strongly during the sale, while good beef brought enhanced prices. Fat lambs and sheep were aleo firmer. Store Sheep, There was. a large yarding, including over 5000 from the North Island, and also a . Marlborough consign- j ment. , Competition at the start, when inferior sheep were offered, was dull, hut there was a remarkable firming up as the sale proceeded, averaging from 2s to 3s per head on last week for evrtss and 2s on lambs. Good two-toothed halfbred ewes made 47s Bd, ordinary halfbred two-toothed ewes 63s to 375; good twe-toothed threfe-quarter-bred • ewes, 36s 10d; : North Island two-toothed three-quarter-bred ewes. .80s 6d to 355; good four, six, and eight-toothed halfbred ewes 37s 6d, ordinary 82s to 34s fid; coarse crossbred North Island twotooth ewes, 29s 6d' to 31s fid; good "four, six, and eight-tooth Romney cross ewes,« 29s to 335; lower-conditioned, 235; (rood forward lambs 21a 6d to 24s 3d, ordinary 17s 6d to 20e ; 6d, medium 15a to 16s 6d; small, inferior lambs, 10s to ' 10s 6d; inferior halfbred ewe lambs, 18s fid. to 22s 6d; fairly good three-quarter-bred ewe lambs, 235; good four and six-toothed. 23s 6d to 28s; inferior. 20s to 22s 9d. Fat Lambs.—There was a very small yarding of 1920 bead. Competition was keener for the best sorts, which made to 10Jd;"overweights, 9id; Weights. 9}d: prime lambs. 303 fid to 53a lOd; medium. 27s to 80s; light, 23s to 26s fid. Fat Sheep.There was an average-sized yarding > ana an improved sale by Is 6d to 2s per head for good wethers and ewes. Wether mutton made from 6§d to 7d per lb.; ewe. from 4|d to s|d. Extra prime wethers realised 40s, a few special 455; prime wethers, 33s fid to 38a; medium, 29a fid to 338; inferior, 25a to 18s fid; extra, prime ewes. Ms; a few special, 35s 10d; prime, 26s 6d to 30s 6d: medium. 23a 6d to 26a; light. 20s to 235: old. 16s 6d to 19s 6d. Fat Cattle.— total yarding , was ; 390, the quality being better than has been, the cose for some time. There waa a decided improvement in the demand for good steers, which made £2 a head more than last week. A few special sorts made up to 57s 6d per 1001b.' prime beef. 32s fid to 35s Id: medium, 2§a 6d to 325; light, SSs 6d to 27« 6d; rough, down to 16s: extra prime steers, £18 to £20: prime, £13 to £15 15s; medium, £10 to £12 15s; fight, £0 10s to £9 10s: extra prime cows, £11 12s 6d: prime. £6 10s to £9; ordinary, £4 'to £6 ss: aged, £2 12e to £5. 10b; prime heifers, £7 to £9 ss; ordinary heifers. £3 10s to £6 10s. Vealers.— was an improved sale. Runners made to £5 -ss; vealers, £3 to £3 10s; good calves, 30a to £2 15s; small, i 10a to 208. . . Store Cattle.—There was a large entry, 1 mostly cows, with a few decent lines. Two j to three-vear steers made to £3 8s; two-year-old steers, to £2 ss; yearling steers to ?fis; yeivlinn: heifers. 15s to 255;. fresh cows, £2 to £2 10s; old cows, 10a to 30s; bulla, 30s to £4 sb. Dairy Cattle.— was a large entry, and a, Rood sale for all good cows. Second j and third calvers made tip to £10: extra 1 good to £12 10s; good springing heifers. £6 ; to 510; extra, to £13; backward, £4 to £5 10s. , , ■ Fat Pigs.—There was a keen sale for baconers. Choppers made £2 10s to £5 lis; light baconers, £3 15a to £4 ss; heavy, £5; extra heavy, to £5 ss: average price per 1b... 6{d to 7id; light porkers, £2 Sa to £2 10s; heavy, £2 15s to £3 4s; average price , per j lb., 7d to Bd. , , ' Store Pigs.—Theire was » slack sale. Wcanera made 128 to 15b ; good weaners. 18s-; j small Btores. 19s to 22a; medium. 25s to: ; 325; large, <tSs: sows in pig, £3 to £4. j