COMMERCIAL.

New Zealand Herald, Volume LXII, Issue 19119, 10 September 1925, Page 7

COMMERCIAL.

WOOL TRADE AT HOME. aiming at stability. A. arid N.Z. LONDON. Sept. 8. The Yorkshire Post, in commenting on the proposal of the Wool' Federation to entertain Sir John Higgins at a dinner in Bradford, says: "Now that the wool growers have sealed the fate of the latest proposal to establish some form of control, we hope the wool trade will not be further worried by the uncertainty which would arise out of similar proposals by those engaged in the trade. "The wool textile industries throughout the world are all anxious to settle dovvn to stable methods of business. It will be best for all concerned if disturbing outside factors aro drastically eliminated. Importers cannot hope ever again to be allowed to have quite the same scope in connection with speculation in Australian wool as in the past, when speculators were able to use their capital to good advantage by acquiring wool and holding for 3 rise in price. " Growers now believe that by clearing their wool in a too short selling season, they have allowed themselves to be exploited" by speculators, but they keep too much in mind the profits made on rising markets and they take too little heed of the losses from falling markets after much of their wool has been sold and before it can be put into consumption at the various textile centres. What happened this year mnst have made them realise that there are two sides to this question, and that there are great "sks often in carrying wool as well as profits.

CHICAGO WHEAT MARKET. Australian and N.Z. Cable Association. (Eecd. 5.5 p.m.) CHICAGO. Sept. 8. Wheat. —September, 1 dollar 53 3-8 cents per bushel; December, 1 dollar cents; May, 1 dollar 56J cents. PACIFIC TIMBER EXPORTS. BRITISH COLUMBIA'S SHARE. Exports of lumber to the Orient from British Columbia are showing improvement in spite of the severe competition from the north-west of the United States. Out of the 50,000,000 ft. which moves across the Pacific every month, the sawmills of British Columbia are shipping 10,000,000 ft. Of the lumber moving through the Panama Canal to the Atlantic

seaboard, that province sends monthly 20,000,000 ft. out of a total of 89,000,000. Thus Canada obtains a full 20 per cent, of all Pacific Coast lumber shipments.

MINERALS IN THE ARCTIC. GEOLOGIST'S INVESTIGATION. The extent and value of the mineral deposits in the Arctic regions are forming part of the subjects of investigation by this year's expedition. Professor Weeks, a graduate of Arcadia and" Yale Universities, is in the party, representing the geological survey, and his examination ■will cover territory that heretofore has not been investigated. He has full geological equipment and outfit. The presence of minerals there is well established, the only question being whether they are available to snch an extent as would make operations economically feasible. A GREAT PENNY BANK. " \! , . 1 'i 11 b k REMARKABLE RECORD. The popularity of the Yorkshire Penny Bank is once more illustrated in the statement for the year to the end of June last. During the previous twelve months tho deposits fell a little to £28,504,964, but it is a striking fact that that since the closing figures of the "old Yorkshire Penny Bank in 1911 the total has shown an increase of £10,304,862. During the eleven years since the. commencement of the war depositors have withdrawn upwards of £28,000,000 for investment in Government securities, etc., but, in spite of this, the aggregate of the sums deposited has grown in the period by £7.784,2.75. Against the deposits the bank has cash £8.002,689, Treasury bills £620,000, 'and War Loans and Bonds £16.595,521. Other securities amount, to £1,041,560, while loans stand at the very moderate figure of £3,225,694 —a very solid position. GERMANY'S ENGINEERING TRADE. ACTIVITY AT ESSEN. The revival of German trade was referred to by Sir Percival Phillips, a member of the 'Empire Press Delegation, in an interview at Sydney last week. "I was in Essen recently, and observed the recovery of the German engineering industry, which is reaching out its powerful hands and grasping back the trade it lost during the war, said Sir Percival. "A German worker who iis making £2 per week is doing well. There is no standard of living, and as long as he is assured of potatoes and beer then he is a happy, industrious man. In France, too, there is little unemployment. "But, of Britain, one tells another story. There is unemployment—terrible unemployment—and there is the iniquitous system of the dole, which, far from relieving the situation, tends to aggravate it, for thero are many men only too willing to cease work when they can make a comfortable income out of unemployment.

"Is England recovering? Well, yes; she is recovering, but slowly. The trade which she lost during the war to America is going, not back to her, but to Germany. I went recently over the dockyards in the North, and I found that many of them tvere without work. On the other hand, Germany is like a. beehive. I do not wish to paint too pessimistic a picture of the position, but there are facts we must face." '"• v '• '■ /."• . ' RABBITSKIN MARKET. 'I, [BY TELEGRAPH. —OWN CORRESPONDENT.] DUNEDIN. Wednesday. Competition was spirited at the rabbitskin sale yesterday at an advance of 2d to 4d a lb. on the prices realised at the previous sale. The following is the range of prices:—Prime bucks, 99d to lOOfd per lb.; prime does, to 96d; first bucks, 86jjSd to 99d; winter does 71£ d to 79d; outgoing bucks 57d to 58d; outj going docs, 64d to first winter broken, 58fd to 63d; winter broken, 49id to 54d; first black, 783 dto 85|d; black, 53d to 65d; winter fawn, 94|d to 96{d ; incoming;;, to 82-Jd; springs, 50d to 58d; milky, 48d to 51d; hareskins, 48|d to 56£ d; light racks, to 42j|d; prime racks, 43d to 44£ d; runners, 26£ d to 29fd; horsehair, 21d to 22|d; cowtips, 25£ d per dozen. CAMBRIDGE HORSE FAIR. [BY TELEGRAPH. —OWN CORRESPONDENT. ] CAMBRIDGE, Wednesday The Cambridge Spring Horse Fair was continued to-day when a greater number of buyers were present than on the opening day. Broken draughts were offered and, in marked contrast to the opening ..morning, competition was very keen. Prices generally were very good, the averago being between £3O and £4O. Anything showing quality brought good figures. Several pedigree heavy offerings realised from 45 guineas to 55 guineas. The top price v/as 7l guineas for the draught entire Excelsior, Bucklydie Favourite— Myrtle, the purchaser " being Mr. J. ' '•

IMPORTANT MICA FIND.

DISCOVERY IN CANADA, What is claimed to be the largest show of mica unearthed in Ontario Ins been discovered at North Hastings, a short distance from Bancroft, by Messrs. Scrser and Company, who recently rliipped 120 tons to the United States market. Crystals weighing as much as two tons have been taken from the mine. Experts who have visited the property claim it to be the largest yet found in Ontario.

AUSTRALIAN POTATO MARKET.

SUPPLIES FROM TASMANIA. Reports from Devonport, in Tasmania, recently announced a firming of the potato market, with values up to £l2 10s, and a belief that stocks were short, which would mean a further advance, says the Sydney Daily Telegraph. The suggestion was made that this report might have some connection with the holding of large stocks in Sydney, which had been rushed over from Tasmania just before the coastal shipping strike. The slump that was threatened as a result of these accumulations did not come, prices even hardening as the days went by. Word afterwards came from Devonport of a very firm market there, with over £ls per ton paid. It does not appear, however, that stocks are yet short, for it is expected that shipments to Sydney during September will be maintained at over 1000 tons weekly.

WHISKY AND ITS PRICE.

BRITISH CUSTOMS DUTIES.

Mr. William Ross, chairman of Distillers, Ltd., speaking at the recent meeting of the company in Edinburgh, said since 1909 the British Government had raised the duty on whisky from lis to 72s 6d per gallon, with the result that a bottle of whisky selling retail to-day at 12s 6d in Great Britain contributes 8s 6d in duty, while the wholo cost of the same whisky, including duty, was not more than 4s per bottle pre-war, since when the cost of production had enormously increased. Home consumption had falleu off from 32,050,000 gallons in 1908-9 to 13,030,000 gallons for the year ended 31st March, 1925. PREFERENTIAL TRADE. EXTENSION BY AUSTRALIA. "I rejoice to see," said Lord Burnham at Sydney last week, "that the Federal Government, in the new tariff, proposes to increase the preference on. motorchassis coming from the United Kingdom, from 5 to 12£ per cent., and to make large increases in respect to electrical and other machinery. To counteract the most powerful engine of foreign propaganda yet invented by the ingenuity of man, the preference on British films is increased by one penny a foot. These preferences will be received with grateful recognition by British manufacturers and • producers and are a happy augury for the extension of our Empire trade."

STOCK SALES. AUCKLAND. The Now Zealand Loan and Mercantile Agency Company, Ltd., reports:—We held sales during the past week at Westfield, Pukekohe, IN galea and Clevedon, all classes oi store and aairy cattle selling at late quotations. We quote:—.Dairy oowb and lienors close to profit, best, £l2 to £ls 10s; others, £8 to £ll 10a; backward springers, best, £S 15s to £8 15s; others, £4 10a to £6 10s; store cows, £2 10s to £4 159; yearling to 18-montha heifers, best, £3 10s to £4 15s; others. £1 15s to £3 ss; yearling to 18montlis steers, £4 103 to £5 12s Gd; 2 to 2J-year steera, £5 15s to £6 10s; 3 to Siyear steers, £6 12a Gd to £7 12a 6d; 4 to 4i year steers, £7 15a to £8 7s 6d; grown steers in forward condition, £B. 10a'to £9 10s. At Westfield fat stock market yesterday beef was penned in more than average numbers, prime and choice quality selling at late Quotations, unfinished cattle being easier in values. Extra choice ox eold to £2 2g per 1001b; choice and prime ox, 36s to 41s; ordinary and plain ox, 80s to 355; prime young cow and heifer "beef, 35s to 395; ordinary cow beef, 28s to 345; rough beef, 20s to 265; extra' heavy prime steers ranged in price from £2O to £23 10s; heavy prime steers, £l7 17s 6d to £l9 17s 6d; lighter primo steers, £ls 15s to £l7 15a; light prime steers £l3 to £ls 12s 6d; unfinished and small, £lO to £l2 15s; extra heavy primo young cows and heifers, £l3 t0.£14 15s; heavy primo young cows and heifers, £ll 5s to £l2 17s 6d; lighter, £8 to £lO 15s; light cows, £6 10s to £7 17s 6d; bulla, £5 to ±o; other cows, £3 10s to £6 ss. Sheep wore yarded in average numbers. Competition was not so keen and values were lower by 3s to 4s per head. Extra heavy primo wethers made £* 7sto £2 9s; heavy prime, £2 4s to £2 6s 9d; medium primo, £2 2a to £2 3a 8d; light prime, £2 to £2 Is 9d; small and unfinished, £1 16s to £1 19s 9d; heavy and medium prime ewes, £1 15s to £1 19s; light prime, •£1 13s to £1 4s 9d ; heavy and medium prime hoggets, £1 15s to £2; ; light hoggets, £1 lis to £1 14s; unfinished hoggets, £1 4s to £1 9s 6d; spring lambs sold from £1 14s to £1 18s 3d, the latter price being realised on account of Mr. C. W. Stephens, Clevedon. Pigs were penned in loss than average numbers, and values improved on late quotations. Choppers sold from £5 to £6 ss; hisavy and medium baconers from £5 to £5 Is; light baconers and heavy porkers, from £4 10s to £4 18s; medium porkers and light porkers, from £3 10s to £4 8s; small and unfinished porkers, £2 10s to £3. 83; store pigs were penned in small numbers, values improving on late quotations. Large stores made £1 18s to £2 10s: slips, £1 lOsi to £1 16s; weaners, £1 to £1 10s. Calves wero penned in average numbers and sold at late quotations. Runners made £4 IDs to £5 10s; heavy vealers, £4 to £5 10s; medium, £3 5a to £3 lfte; light, £2 8s to £3 4s; smaller. £1 10s to £2 6s; small and fresh dropped, 3s to £1 8s; rough calvce, £1 to £1 10s.

Dalgety and Company. Limited, report as follows on the Westfield sale yesterday:— Beef: There was a larger yarding. Prices for prime beef remained firm at last week's quotations, but second quality was decidedly easier. We quote: Extra choice ox, £2 2s per 1001b,; choice and prime, £1 17s to .£1 19a; other, 32s to 36a; prime young cow and heifer beef made £1 14s to £1 18smedium quality, £1 10s to £1 13s; other. £1 4b to £1 9s. Sheep were penned in pood numbers, and prices were 3s to 4s per head easier. Extra heavy prime wethers made £2 6s to £2 9s 9d; heavy prime, £2 3s to £2 6s; light and medium, £1 19s to £2 2sno ewes were yarded. Spring lambs made £1 14a to £1 18s Gd: hoggets, 31s 6d, 32s Gd to 34s 3d: small, £1 6s to £1 9s. Pigs: A short market sold at advanced prices, baconerg especially being in keen demand. Heavy baconers made £4 15s to £5 Is: light and medium baconers, £4 to £4 14s; heavy porkers, £3 12s to £4: medium and light, £2 15s to £3 10s. Calves sold at late rates. Heavy vealers made £4 2s to £5 4s; medium £3 to £4; light £2 6s to £2 19s; others, t °,l 5s to £2 ss.

Alfred Buckland and Sons, Ltd., report Dunn- the week we held sales at TuaW Westheld. Waiuku, Maungaturoto and Wclbtord; also two olearing sales. There have been full yardings and a good demand continuea for all classes at ruling prices. Best dairy cowb made £lO 10s to £l4 10s; extra to £18: second grade cows. £7 to £9 10s; others, £ 4 to £ 6 15s; best springing heifers," £lO to £l4 10s; good heifers, £6 10s to £9 10s; small and backward. £3 15s to £6 ss; empty young cows, £4 to £5 10s : store cows. £1 5s to £3 17s 6d: grown steers, in forward- condition, £9 10s to £lO 10s- fonr-year-old steers, £8 to £9 ss; three-year-old steers. £7 to £8; two-year-old steere. £5 10s to £6 15s; yearling steers, £3 10s to £i 12s 6d; yearling to eighteen-month-old heifers. £2 15s to £4 53: fat steers. £ll to £l4 15s: fat cows and heifers, £7 to £11: rough fat cowa, £3 25s to £6 15syoung bulla. £6 Gs to £l4 143: heavy bulls. £5 103 to £8 58. Yesterday at our weekly We3tfiold fat stock market our supply of fat cattle totalled 361 head, comprising 202' steers. 153 cows and heifers and six bulls. There was a steady demand throughout and last week's advance was almost sustained. Extra choice ox sold to £2 2s per 1001b: choice and prime ox, £1 19s to £2 Is; ordinary and plain ox. £1 15s to £1 18s; prime youne cow and heifer beef, £1 15s to £2: ordinary cow beef. £1 10s to £1 14s: rough beef. £1 2s to £1 7s- heavy prime steers ranged in price from £lB to £2l 12s 6d; no extra heavy prime steers penned. Lighter prime steers. £l4 10s to £l7 15a: light prime steers, £l2 5s to £l4 ss; unfinished and small, £8 10s to £l2; extra heavy prime young cows and heifers, £l2 10s to £l3 7s 6d; heavy prime s'"ting cows and heifers, £lO to £l2 ss: lighter, £7 5s to £9 17s 6d; other. killable cows, £5 to £7; old and rough cows. £2_los to £4 15s; bulls, £5 to £9 ss. Onr highest average was £2O 15s Sd for 15 steers from Mr. Tamos Taylor. Glen Innes property. St. | Heliers Bay. Sheep aprain came forward in increased numbers. There was « falling-1

off in the demand and in consequence values "were l-wer Extra heavy prime wethers made £ 2 7s to £ 2 8s 9d: heavy prime -vrethers. £2 5s to £2 6s 9d: moaium to heavy prune wethers. £2 3s to £2 4s 9d; light Prime and unfinished wethers. £1 18s to £2 2a 9d: heavy prime ewes. £1 18s to £2 Is: lighter prime ewes. £1 15s to £l, 17s 9d: ottier ewes, £1 12s to £1 Us 9d; prune hoggets. £1 14s to £2: lijtht and plain hosteets. £1 9s to £1 13s (1502 sold). Two spring lambs from Mr Fred. Stephens. Clavedon. made £1 18s 6d. Fat and young calves '•'•'ere penned in large numbers. No good runnera or eatra heaw vealers came forward. Values for medium vealers were lower. Good vealers made £3 10s to £3 ISa: medium vealers, £2 12s to £3 3s; light vealers. ,£1 16s to £2 10s- small and freshdropped, Is to £1 7s (297 sold). A short market of piers met with a very brisk sale, (rood Quality baconers were especially in keen demand. Heavy choppers made £5 10s up to £7 10s: rough and licht.' £2 103 to £4 15s; choice quality heavy baconers. £4 16s to £5 Is; light and medium. £4 4s to £4 10s; heavy porkers. £3 12s to £4; light and medium. £2 19s to £3 10s; email and unfinished, £2 to £2 14s. Store pigs also sold readily: best brought £2 2s; smaller. £1 100 to £1 15s- slips made to £1 7s; weaners, up to £1 Is for best; small and weedy, 8s to lis (293 sold).

HAMILTON. | Tb.o Farmers' Co-op. Auctioneering Co., j Ltd.. reports.—At Fr&nkton yards on Tuesday wo held our weekly stock sale, when | we had a good yarding of beef, fat sheep and pigs, while store cattle did not come forward in very large numbers. Beef showed an improvement on late rates and the whole yarding was Quitted at very satisfactory prices. Sheep were also in keen demand, the whole yarding being quitted on a, par with late rates. Fat pisrs showed a slight improvement on late rates, com-, petition being keen throughout. Stores sold on a par with provious Quotations. .We quote: Prime heavy fat bullocks. £l7 2s lid to £lB 15s; lighter, £lO 2s to £l6 10s; smaller sorts, £l4 19s to £ls 15s; unfinished, £l2 2s to £l2 10s; heavy fat cows, £ll 7s fd to £ll 10a: lighter. £8 12s 6d to £9 19s; smaller sorts. £6 10s to £7 ss: unfinished. £5 5s to £6: stores, £3 to £3 7s 6d: heavy fat wethers. £2 10s 3d; lighter. £2 5s 6d; shorn fat wethers. 32s to 34s 3d: others. 29s Gd: beet fat owes. 35s to 38s 9d: others, 33s 9d; heavy baconers, £4 4s to £4 93; lighter. £3 12s to £3 17s; beat porkers, £3 7s Gd to £3 15a: others, £2 15s to £3; unfinished, £2 6s to £2 9s; best slips, 33s to 37a: others.- 24s to 275: best weaners. 18s to 20s; others, 13s to 15s. The Now Zealand Loan and Mercantile Agency Company. Limited, reports.—At the Hamilton sale on Tuesday there was a medium entry of fat and store cattle. Beef sold under keen competition and improved on last week's values. Fat sheop wore also firmer. We quote:—Light fat steers. £l4: fat cows. £9 10s to £ll 10s: lighter cows. £6 7s 6d to £8 6s; fat wethers. £2 5s 6d to £2 7s: unfinished wethers. £2 0s 6d to £2 oi 3d; forward six-tooth wethers. £1 14b to £1 16s 6d. A lorge entry of fat and store pigs came forward. Fat piss showed an increase on last week's rates, stores and weaners maintaining prices ruling at late sales. Heavy baconers made £4 10s to £4 19s: medium baconers, £3 15s to £4 7s; heavy porkers, £3 4s to £3 12s: lighter porkers, £2 10s to £3; unfinished porkers, £2 5s to £2 8s; good stores, £1 15s to £1 19s; smaller stores, £1 4s to £1 lis; slips, 18s to £1 2s- weaners. 10s to 16s. ADDINGTON. [BY TELEGRAPH. —PRESS ASSOCIATION.] CHRISTCHTJRCH, Wednesday. At to-day's Addington market there was a keen sale for fat cattle and a better one than for some weeks for store sheep. Fat sheep failed to hold recent values. Store Sheep.—There waa a recovery in hogget values, some well-woolled halfbred ewes making 39s Gd. The. first ewes and lambs of the season were forward and made 18s Id, all counted, a better clearance than for some sales. Good-halfbred ewe hoggets, 36s to 39s Gd; - good halfbred wether hoggets. 28s 6d to 29s 6d; threequarter-bred wether hoggets, 26s to 29s 3d; cull threequar-ter-bred wetl>er hoggets, 22s 6d to 245; mixed sex threequarter-bred hoggets. 26s to 30s 6d; cull crossbred wether hoggets, 235; aged ewea with lambs, 18s Id, all counted; fiiood four, six and eight-toothed wetherß, 35s 6d to 375; lower-conditioned four, six and eight-toothed wethers, 32a to 33s lid. Fat Sheep.—A good-sizod entry was forward, and there was a general easing on last week of Is a head. Extra prime wethers, to 565; prime wethers, 46s to 50a; medium wethers, 42s to 455: light wethers, 37s to 41s; extra prime ewes, 47s lOd; prime, 32a Gd to 37a; and up to 40a 6d; medium ewes. 33s to 363; light ewes. 27s to 32a; prime hoggeta. to 445: ordinary hoggets, 30s to 335. Fat Cattle.—The entry totalled 450 head, of which 116 were from the North Island and several trucks from South Otago. Twelve bullocks from Mr. P. Anderson, Stirling, averaged £2B sa, while one. line "of 28 steers from the North Inland averrfged £23 6s. Some Northern heifers made to £l7 17e 6d. and cows to £l7 7a Gd. A few pens of local medium-weight prime beef made to 56s •'net 1001b., prime medium-weight. 50s to 535; prime neavy-weight, 47b to 52a; raediu.m quality, 44s to 47a; light. 40s to 48s; inferior down to 335. Extra prime heavyweight steers, £24 10s to £2B 17s Gd; prime heavy-weight steers. £2l to £24; "weight. prime steers, £l7 10s to £2O 10s; light' steers, £l4 10a to £l7; rough steers, £ll 10s to £l4; extra prime heifers, to £l7 17a 6d; prime heifers, £l3 10s to £ls '10b; ordinary heifers, £9 10a to £l2 10a; extra prime cows, to £lB 2s Gd; prime eows. £l2 15a to £ls; medium cows, £lO to £l2 10a; light cows. £8 to £9 10a; rough cows, £5 12a Gd to £7 10s. . /. , , Vealers.—There waa a particularly short entry and anything fit for killing sold readily. Good vealers. £6 to £7; medium. £4 10s to £5 15s; good calves. £3 to £4 ss; small, 25s to £2 ss. Store Caltle.—A medium entry was forward. mostly cows, which made somewhat improved prices. Three and four-year steers. £9 17s Gd: heifers, to £5; good cows, £3 to £4 10s; medium. £2 to £2 15s; old, £1 5s to £1 15b; bulls, to £6 15s. Dairy Cattle.—The entry comprised 63 head. Prices were slightly better than last week. Beat second, third and fourth calvers, springing, £8 to £l2 sa; medium, £5 to £7 10s; poor, £3 to £4 10s: best springing heifers, £6 to £9 ss;..others, £2.10s to £5 10a; old cows, in profit, £1 10a to £2 10s. Fat Pigs.—Baconers improved in price; porkers and choppers were weaker* Choppers, £3 to £6 10s- light baconers,. £5 to i's 10s: heavy, £6 to .£7; extra heavy, to £7 18s. (Average price per lb.. 9id to lOd.) Light porkers, 48s to 655: heavy, 603 to 723. (Average price per lb., BJd to 9jd.) Store Pigs.—The entry waa large and the demand active for the greater part of the sale. Small weaners. 23s to 255; better sorts, to 295; small stores, 28a to 345; medium, 37a to 465; large, tp 58s; sows in pig, £4 5a to £B.