MARKETING OF WHEAT.

New Zealand Herald, Volume LXVII, Issue 20743, 10 December 1930, Page 9

MARKETING OF WHEAT.

CANADIAN POOL'S POLICY.

A CHANGE ANNOUNCED. (Received December 9, 5.5 p.m.) WINNIPEG, Dec. 8. Mr. John McFarland, the new general manager of the central selling agency of the Canadian wheat pool, announces that the pool has reversed its policy of direct selling overseas and will withdraw its representatives and close its agencies at London, Paris and other European centres. The ordinary established facilities for the marketing of wheat would be used by the pcol. This change in policy, it is believed, will have immediate favourable results and strengthen the demand for Canadian wheat overseas. THE CHICAGO MARKET. CHICAGO, Dec. 8. Wheat.—December 17\ cents per bushel; March, 79 cents; May, cents; July, 73j,- cents. QUOTATIONS IN LONDON. LONDON, Dec. 8. Wheat.—Cargoes are dull and prices unchanged. Parcels are 3d down. Futures. —London: December, 22s 8d per quarter; February, 22s Id. Liverpool: December, 4s lOd per cental; March, 5s 0 3-8 d; May, 5s 2 l-Bd.

DOUBLE TAXATION.

STAMP DUTY AMENDMENT. STOCK EXCHANGE PROTEST. " During the year the Government introduced a new system of stamp duties on overseas transfers," said Mr. G. "C. Creagh in his address to the Stock Exchange yesterday. "The Exchanges of the Dominion made strong representations on the subject both to the Commissioner of Stamps and the Minister of Finance, but without result, the new duties coming into operation on August 21. New Zealand has thus established a precedent for double taxation, a principle which has been vigorously opposed throughout the Empire for many years. As a matter of fact, as is well known, the British Government actually refunds income tax to colonial holders of stock.

" It would be easy to enumerate many reasons why investors purchasing shares in overseas companies should not ha called upon to pay double stamp duty, but this is not the time to do so. No doubt, however, further representations will be made to the Government with a view to having the Act amended next session. " In strong contrast to the attitude or our Government in this matter is that of the Labour Government of Victoria, which proposed that a duty of 6d on' £lO be charged on transfers, but which subsequently revised the Budget proposal deleting what was generally regarded as an imposition."

STOCK SALES.

PRICES AT FRANKTON. RATES FOR BEEF AGAIN LOWER. [BV TELEGRAPH. —OWN CORRESPONDENT.] HAMILTON. Tuesday. An exceptionally heavy yarding of ecu' beef and an average offering of ox betf met with a poor demand at the weekly stock sales at the Fraukton yards to-day, the prices in both classes - showing a further decline on late rates. Poor competition was forthcoming for a smaller yarding of fat sheep, prices generally being lower. A fair demand existed for all classes of pigs and values showed a slight increase. The auctioneers Quote as follows: New Zealand Loan and Mercantile Agency Company, Limited.—Prime fat bullocks sold at £ll 15s to £l2 ss; fat bullocks. £lO 10s to £ll 10a; prime :fat cows, £7 12s Gd to £7 15s; fat cows, £6 15s to £7 7s; lighter, £5 17a to £6 4a; good runners, up to £5; vealers, £2 3s to £2 Cs; good Btore cows, £3_ 5s to £3 7s; poorer. £'2 Sa to £2 12s; prime fat wethers, IGs 3d to 16s 9d; lighter, 153 to 15s Gd; prime fat ewes, up to 15s 3d; good fat lambs. 17s 9d to JSs 3d; baconers, £2 10s to £2 15s; heavy porkers, £2 3s to £2 10s; lighter, 39s to £2 2s Gd; stores, 30s to 355; slips, 25s 6d to 27s 6d; weaners, 15s to 21s,

Da Igety nnd Co::npany. Limited.—Prime heavy shorn wethers Bold at up to ISs; light prime 2-tootli wethers, lGs to 17s; light and inferior, 14s 6d to 15s Gd: forward woolly wethers. lGs; heavy fat ewes, to lis; light, lGs; inferior aged, ewes, 6s to 8s; choice light fat bullocks, £lO 2s 6d; prime young cows, 1.0 £8; light prime young cows. £5 9s to £6 15s; rough heavy cows, £<t 153 to £5 17s Gd; light fat Jersey heifers and young cows, £i 7s Gd to £4 10s; runners. £3 to £3 15s; heavy baconers, £2 12s to £2 lGs; lighter, J'2 0s to £2 lis; porkers, £2 2s to £2 7s; large stores, 32s to 395; Blips, £1 5s to £1 It's; weaners, 14s to 18s. G-. "W. Vercoe aid Company, Limited.— Medium-weight fat bullocks sold at £ll 10s to £l2 10s; light, £lO 2s 6d to £ll 7s Gd; heavy fat cows. £7 5s to £8 2s Gd; lighter, £6 53 to £7 7s; light. £4 15s to £5 17s Gd; medium-weight fat heifers, £7 5s to £8: light, £5 15s to £fi 17s-(id; ruime*?, £3 5s to £4 10s; vealeis, 35s to £2 15s: forwardconditioned cows. i-3 to £4 ss; heavy fat wethers. His 9d 17s; prime fat hoggets, 15s Gd to lGs 9d; prime fat woolly hoggets, 17s: fat ewes, 9s Gd; prime fat lambs, 17s Gd to 19s 9d; fat latnKs, 10s to lGs Gd: heavy baconers. £2 13s to £2 16s: medium. £2 8s to £2 12s; light baconers and heavy porkers. £2 5s to £2 7s; large stores. £1 17s to £2 Is; stores, £1 10s to £1 15s; slips, £1 3s to £1 Bs.

Farmers' Co-operative Auctioneering Company, Limited.—Lif:ht fat bullocks, £9 10s to £9 lGs; fat cows, £7 to £7 16s: medium. £5 17s Gd to £6 15s; light. £4 15s to £5 10s; forward cows, £4 2si Gd to £4 12s Gd; store cows. £2 5s to £3 15s: yearling steers, mixed colours. 35s : bulls. 35s to £5 10s; vealers, 30s to £3: fat ewes,- 8s to, lis 3d; fat hoggets, 15s 5d to 19s 3d; fat lambs, £l3 10s to £l9 ss; heavy choppers to £4 10s; heavy baconers, £2 12s to £2 15s; light, £2 9s to £2 lis; heavy porkers, £2 7s to £2 10s; light, £2 to £2 ss; stores. 30s to 375; slips, 25s to 295; weaners, 15s to 22s Gd. TAUMARUNUI PRICES. [BY TELEGEAPir. —DU N CORRESPONDENT. ] TAUMARUNUI. Tuesday. The yarding at the stock sale to-day comprised 400 sheep, 100 head of cattle and a few weaner pigs. There was a good attendance of farmers, aid prices remained unchanged. Cattle were hard to sell but there ,was a fail demand for weaner pigs. Most of the sheep were sold under the hammer but bidding was not spirited. The following prices were realised:—Pigs: Good weaners, 20s to 20s Gd; small weaners, 12s to 15s Gd. Sheep: Fat wethers, lGs sd: 100 shorn wethers, '4s lOd; ewes and lambs (in wool), lGs 7d; nhom two-tooth wethers, 14s: woolly hoggets. 15s to 17s 7d. Cattle: Fat bullocks. £7 ISls Gd: fat steers. £4 Is to £5: light fat cows. £3 17s: three-year-old forward steers, £4 13s: empty cows, £2; forward steers. £5 10s: empty heifers, £2 7s to £3 ss; bulls, £3 to £7. HIDES AND SKINS. .A UCKLAND AUCTIONS. A heavy entry of hides and sheepskins was offered at the - lortnightly auctions held by Die Auckland IVoolbrokers' Association yesterday. The maiket, for hides ranged on a par to slightlv below the levels ruling at the last Auckland sale. Sheepskins were easier, dried showirg a decline of from id to Id a lb. Salted sheepskins were Gd to 9d below the raten of the previous sale. Damaged and fault/ lines were practically unsaleable. Dried sheepskins made up to 45d a lb. for full wool skins; half to three-quarter wool skins mads 3-id a lb.; short to half-wool, 2}d; pelts, ljd. Best salted skins made 2s 9d to 3s Id.each; good, 2s to 2s Gd; poor, Gd to Is. Heavy ox hides made 5 l-8d a lb.; medium, 4Jd to 4 7-8 d: light. 4d; heavy cow, 4d; medium and light, 3sd to 4d; yearlings, s}d; best calf, 9d to 9Jd; good, BJd. Best mixed tallow made 18s a cwt.; medium, 14s; poor, 10s. OIL-BORING REPORT. [BY TELEGRAPH. —OWN CORK FSPONDENT. ] GISBORNE, Tuesday. Taranaki (N.Z.) Oil Fields has started drilling at its new location. A report to-dnv states: —Waitangi No. 1 n ' c ■ Water supply installation- completed. Drilled to 47ft.- ar.:d.cemented 22in. stove pipe casing at that depth in sandy s a All equipment running satisfactorily.