Farm and Commerce.

New Zealand Times, Volume L, Issue 11435, 3 February 1923, Page 11

Farm and Commerce.

Weeßiy Review, Markets and Prices.

THE STOCK EXCHANGE I K [DAY’S QUOTATIONS. (10 a.in. Call.)

12.15 p.m. Callßeported sales— il per cent. Inscribed Stock (1938), .£97 ss; Auckland Gas (paid), AT os 3d. Sale on ‘Change—Bank of New Zealand, £2 ITb «d. SALES IN OTHER CENTRES. Per Press Association. AUCKLAND, February 2. Sales on 'Change.—War Loan, 1939, £97 fie; War Loan, 1938, £97 2s 6d. CHRISTCHURCH, February 2. Sales reported.—Union Bank (ex dir.), £l3 15s; Wilson’s Cement, 23s id. Sales:—War Loan (1930, 1938) £97 ss; Bank of New Zealand, 57s 9<l; New Zealand Insurance, 28s .6d; South. British Insurance, 38s 3d; Huddart-Parker, 555; Auckland Trams, 19s 2d; Takapuna Trams, 17s; Wilson’s Cement, 235; Waihi, 325. Sales reported.—Government 4J per cent. Bonds (1988), £97 3s; Government 5J p’er cent Bonds (1933), .6100 17s 6d; New Zealand Insurance (cum div.), £1 8s 3d; (Manning's Brewery, £4 ss; Beath and Co., £l 11s; New Zealand Refrigerating (£1 paid, cum div.), ,£1 7s. £ FOREIGN |XCHANG| R£TES Australian and N.Z. Cable Association. (Receivecl February 2, 7.20 p.m.) LONDON, February 1. Following are the foreign exchange »tes current to-day compared with those jf January 29th and par respectively:— New York—4.66J dol., 4.63 J del., 4.86. Montreal—4.7lJ dol., 4.67 J dol., 4.86. Paris—7B.6o francs, 74.95 francs, 22.225. Berlin—l9s,ooo marks, 152,000 marks, 20.43. Rome—9B 1-5 lire, 97J lire, 22.225. Calcutta—l6Jd, 16Jd, 3id. Yokohama—2s<l. 25d, 24^d. Hongkong—27Jd, 27|d, —. Stockholm —17.40 kroner, 17.35 kroner, 18.159. Christiania—24.97 kroner, 25.05 kroner, 18.159. Copenhagen—24.4o kroner, 24.23 kroner. 18.159. Cajcntta exchange reckoned on the rupee, Yokohama on the yen, Hong, kong on the dollar; the remainder on the pound sterling. HOME PRODUCE REPORT Australian and N.Z. Cable Association. (Received February 2, 5.5 p.m.) LONDON, February 2. The wheat cargoes market was dull, owing to selling pressure by La Plata shippers, and the expected heavy clearances from Argentina. Prices were occasionally 3d lower. Parcels were easier, and fair business was done at 3d to 6d decline. The spot trade was quiet. Flour was r low, and prices easier. Australian. ex store, 39s 6<l to 40s. Barley was firm, but slow. Australian “Chevalier" quoted at about 50s, ex 6tore. Oats were quiet. Beans and peas were slow and unchanged. Sugar, granulated, 49s 4d. LONDON WOOL SALES Australian and N.Z. Cable Association. LONDON, February 1. At the wool sales, owing to the collapse of exchanges, merinos fell 5 per cent There were many withdrawals. Crossbreds v. cro unaffected. TOPS MARKET. Australian and NZ. Cable Association (Received February 2, 5.5 p.m.) LONDON, February 2. Bradford tops quotations are unchanged. Isolated makers are inclined to reduce prices a trifle, and user® are buying little. The business done is small. TALLOW STOCKS Australian and N.Z. Cable Association. (Received February 2. 8 p.m.) LONDON, February 2. Tallow stocks total 5886 casks; imports amounted to 380 a casks and deliveries 2617. TALLOW MARKET Messrs Booth and Co., Ltd., report: Under date of the 31st ultimo, our London housa advises that at the tallow sales held on that day 1290 casks were offered and 841 casks sold. They quote: Edible mutton, 435; edible beef. 425; good mutton. 41s 6<l; good beef, 40s 6d; good colour, 39s 6d; no colour, 365; gut, 34s 6d. Messrs A. H. Turnbull and Co. advise: Wo are in receipt of a cablo from our principals, Messrs W. Weddet and Co., dated la>ndan. 31st ult., reading as fol-lows:---“At the tallow auctions to-day 1300 casks were offered, of which 800 casks were sold. Tallow market unchanged to 64 decline." HIDES SALE By Telegraph, l’ress Assn. -Copyright. (Received February 2. 7.20 p.m.) MEL BOURNE, February 2. At the hides sales there were large catalogues. The market was very firm for all stout and light lines; values unhanged. Heavies and mediums were firm.

BANK OF ENGLAND leading Items of return. Australian and N.Z. Cable Association. (Received February 2, 8 p.m.) LONDON, February 1. The leading figures of the Bank ot England return lor the week ended February Ist afford the following comparisons •• — This week. Last week.

ties 19(78 p.c. 19.98 p.c. IMPERIAL AND COLONIAL GOVERNMENT SECURITIES. Following are latest quotations for Imperial and Colonial Government securities:— This Last

MONEY MARKET.' Short loans, 1} per cent.; three months’ bills, 2 7-16 per cent. . PRICES FOR METALS Australian and N.Z. Cable Association. (Received February 2, 11 p.m.) LONDON, February 1. Copper—On spot, £65 13s 9d; forward delivery, £66 6s 3d. Lead;—Orw e|>ot, t £2§ fgrward delivery, £2B. Spelter—On 6pot, £35 17s 6d; forward delivery, £34 17s 6(1. Tin—On spot, £lB3 18s 9d; forward delivery, £lB5 13s 9il. Silver, 31W1. , IRON AND STEEL Australian and N.Z. Cable Association. (Received February 2. 8 p.m.) LONDON, February 2. The Scotch Iron and Steelmakers’ Association has raised the prices of iron bars by Ids a ton; ship plates by ss, and sheets by ss. BUTTER AND CHEESE Australian and N.Z. Cable Association. (Received February 2, 7.20 p.m.) LONDON, February 1. The butter market is quiet and steady, Prices for colonial shipments aro unchanged. Danish has a weaker tendency, owing to the absence of American and Continental demand. Very little cheese is offering. New Zealand,' 1235; Australian, 122 sto 1245. CANTERBURY MARKETS FAIR BUSINESS REPORTED. Per Press Association. CHRISTCHURCH, February 2. A fair amount of business continues to be done by merchants for their period of tho year. Wheat is still the subject of discussion so far as tho price is concerned, and farmers are looking for a higher price than merchants are prepared to pay. - Samples are already to hand, but no fanner seems anxious to sell* Oats base been easier during the last few days, and the demand from Australia has fallen off during the week. Barley.—Unfortunately, most of the new barley coming forward is discoloured to greater or less extent. This being realised bv many buyers, there is a tendency on their part to purchase old season’s .stuff, consequently some fair parcels of the latter have changed hands during the last few days. ATTACKED BY CATERPILLARS.

Reports have cone to hand that in some instances considerable damage has been (lone to crops by caterpillars, whose ravages have been so bad that three farmers, at least, will not find it worth their while to cut their crops. The caterpillars only put in an appearance after the heavy rams. Peas, —Peas have become decidedly weaker owing to depression in the London market. This is the more unfortunate seeing that present crops are the largest ever grown. Potatoes.—The position is much the same as last week. Reports state that blight has made its appearance, in addition at Marshland, at Yaldhurst and Halswelb The present quotation is about £3 lfts per ton for forward delivery. At this time last year potatoes were quoted at £3 15« to £4 per ton. Owing to the prices now offering farmers are not disposed, to sell, preferring to wait developments, and there has not been anything like the amount of speculation done this year as last. WEBTFIELD MARKET TRICES OF FAT STOCK. Prices for beef at the Westfield fat stock sales this week wore about equal to last week’s rates, though there was an easing tendency in some grades ot cattle. Extra choice ox brought up to -£l 6s per 1001 b, other grades realising from 14s to £1 is, according to quality. Cow and heifer beef brought from 12s to «£l Is per 1001 b. '.There was a good de* mand for sheep, and prices showed a slight improvement on Inst week’s rates. Wethers realised from £1 5s (o £1 15s 6d. pace £1 Is to £1 10 s 6c!, lambs 17s to £1 10s Pig prices were equal to those realised at last week’s sale. Choppers and bacon pig 6 brought from £2 io £3 15a

FEILDING STOCK SALE CATTLE) PRICES EASIER, Per Press Association. FEILDING. February 2. At the Feilding stock .sale to-day the demand for sheep was in-and-out, and for cattle prices were stomov. hat easier owing to the quality of the stock penned. There was a lively demand for good bullocks, weaners and steers. Prices: Fat lambs, 25s 9d; fat ewes, 25s 4d to 25s Cd; ’fat wethers 26s 6d, 32s 6d ana 33.-i 6<l; rape lambs, 22a to 25s 9d; woouy lambs, 15s-; wether lambs, 16s 3d, 19s ad anil 20s 3d; mixed sox lambs, 16s to 16s 9d; culls, 8s to 11s lid; two-tooth ewes, 395; four and five-year ewes 24s 7d, 26s 9d, 27a 8d and 28s. Cattle.—Pat cows, £3. £3 10s, £4 17s 6d and £5 to £5 12s; heifers. £5 2s 6d to £6; two-year steers, £4 9s; tliree-ycar steers, £-1 15s, £5 Cs and £5 16a; bullocks, ,67 5s to £8; Polled Angus, £6 10s; weaners, 32s 6d to 455; bulls, 27a 6d, 16s and £5 to £6 10s. WELLINGTON MARKETS Laery and Co., Ltd., AVellington report wholesale prices as follow: Peanieal, £Sper ton; pig meal, £6 10sper ton; wheatmeal, for’ stock feed. £ll per ton, sacks in; ■maize meal, 6e 3d per buehel; linseed meal (Moose brand), for calves winter milk, dairy cows and pigs, 14s per 1001 b; linseed nuts (Moose brand), 13s 6d pot ICOlb; mcatmeal, for poultry, 16s 6d per 1001 b; Sucrosine, 11s per 1001 b; shell .grit, in 1001 b bags, 6s 6d per bag; feed oatmeal, for poultry, 13s 6d pe.' 1001 b; fowl wheat, choice whole, 5 sack lota or over, 5s lOd. lesser quantities, 5s lid. per bushel, sacks Is Id; barley, Cape 3s 9d per bushel; Chevalier barley, 4s per bushel, sacks in; oats, machine dressed seed Algerians 5s 6d, choice Duns 4s Id, B Gartous. 4s 3d, feed Gartons 4s, crushed oats 4s 3d per bushel, sacks in- shelled oats, for chickens, Ss per bushel, sacks in; mixed fowl feed, 5 sack lots or over, 5s .’esser quantities, 5s 2d per bushel, eaiks in; peas, feed 6s 3d per bushel, sacks in; maize, whole 5s 6d, crushed 6s, sacks in; seed maize, 90-day 9a 9d, Hickory King 9b 9(1. White Horse Tooth 9» 9d per bushel; mutton birds, Tasmanian in casks 5d each, New Zealand in kits, cooked and salted, Sid each; butter, farmers’ separator and dairy, prime Is s<l to Is 6d, medium quality Is 3d to Is 4d per lb; eggs, new laid Is 9d, storekeepers' lines Is 6d to Is id doz.; fowls, White Leghorns 4s 6d to ss; Black Orpingtons and heavy varieties 7s to 8s pair: ducks, Runners 7s to 9s per pair; white varieties, 9s to 11s per pair; geese, 9s to 10s per pair ;' turkeys, la 2d to Is 4d per lb; baled straw, £4 5g per ton; fungus, 8d to 9d per lb; dressed pork, GO’s to 90 s, s^d to 6d Per lb; rock salt, 6® Cd per cwt: chaff, Blenheim, ton lots or over, £8 7a 6d per ton, sacks in

Buyers. Sellers. £ i ..d Jt B. d. Mining— Waihi . 1 11 3 — War Loans— Inscribed Stock (1988) 97 0 0 Inscribed Stock il933) — 100 10 0 W ar Bonds (193S) .... 97 0 0 — War Bonds (1933) ioo : G — P.O. Bonds (1927j 96 15 0 — P.O. Ins. Stock (1D27i 96 1* 0 — 6 p.c. Ins. Stk tl93m 96 0 0 — BanksCommercial (ord.) . 1 13 0 — National — 6 8 4 New South Wales 36 15 0 — New Zealand — 2 18 0 TUnion 13 10 0 13 16 0 Financial— ’V Goldsfrrouch Mort 2 5 3 — National Mortgage ... 3 16 6 — \\n. Invest. T. and A. 0 9 3 — *Wn. Trust and Loan 5 15 0 — Gas•Auckland (paid) 1 5 3 — •Wellington (.£10) 11 5 0 — W n. Debentures 105 0 0 106 0 0 Insurance— •New Zealand 1 8 6 1 9 0 Meat Preserving— Gear . 1 18 6 — Transport— Huddart-Parker (ord.) 2 14 3 2 15 0 V nion Steam (pref.) 0 19 8 — N.Z. Shinning (oref.) — 10 5 0 Woollen— Kaiapoi (cent.) Miscellaneous— 0 12 9 0 13 0 K' row n Brewery 1 19 0 — Sharland & Co. (ord.) — 1 2 3 Sharland & Co. ipref.) — 1 2 3 W.F.C.A. (pref.> Ward and Co 0 17 3 1 6 3 — Whitcomb© & Tombs 3 8 0 — Wilson's Cement *Cum div. 12 9 tEtx div.

£ 125,664,000 23,924,000 122.018,060 14,601,000 106.324.000 49,420,000 65,608,000 £ 125,662.000 25,141,000 120,799,000 11,372,000 114,431,000 53,445,000 65,238,000 Note circulation ... Govt, deposit* ... Other deposits ... Uovt. securities ... Other securities ... Proportion of rew»rve to liabili-

week. seek •£ s d. JZ fi. d. 21 p.c. Imp. Consols ... 31 p.c. War Loan tl923* 1928) 96 10 0 — 5 p.c. War Loan (19291947) 100 15 0 101 2 6 31 p.c. Conversion 76 10 0 — 5J p.c. Aus. Comm. (192 21927) , 101 7 6 101 7 6 6 p.c. Aus Comm. (1931-41) *104 0 0 106 12 6 3 p.c. N.S.W. (1930-50) 75 10 0 75 2 6 31 p.c. N.S.W. (1930-50) 80 0 0 80 0 0 4 rsc. N.S.W. (1938) ... S9 15 0 89 0 0 51 p.c. N.S.W (1922-32) 101 15 0 101 lo 0 6 p.c. N.S.W. (1930-40) 105 2 6 105 5 0 61 p.c. N.S.W. (1930-40) 107 10 0 107 17 6 31 p.c. Vic. (1921-6) ... 96 0 0 96 0 0 31 p.c. Vic. (1929-40) ... 78 7 6 78 7 6 31 p.c. Vic. (1929-49) ... 70 15 0 70 10 0 51 p.c. Vic. (1930-40) ... 103 7 6 103 7 6 3 p.c. Q’land (1922-47) 66 17 6 66 10 0 31 p.c. Q’land (1921-24) 87 15 0 87 10 0 31 p.c. Q’land (1921-30) 99 0 0 99 0 0 4 p.c. Q’land (J924) ... 98 0 0 98 0 0 6 p.c. Q’land Q930-40) 104 7 6 103 10 0 31 p.c. N.Z. <1940) ... 74 15 0 74 0 0 31 p.c. N.Z. (1929) ... 82 12 6 82 12 6 4 p.c. N.Z. (1929) 95 7 6 95 7 6 6 p.c. N.Z. (1936-51) ... 108 17 6 108 17 6 3 p.c. S. Aus. (1930)'...' 61 17 6 61 17 6 4fc p.c. S. Aus. (1940) ... 82 5 0 82 * 0 61 p.c. S. Aus. (1930-40) 107 15 0 107 10 0 3 p.c. Tas. (1920-40) ... 75 10 0 75 10 0 31 p.c. Tas. (1920-40) ... 82 7 6 82 10 0 64 p.c. Tas. (1930-40) 107 10 0 107 7 6 3 p.c. W. Aps. (1915-35) 78 7 6 78 15 0 81 p.c. W. Aus (19201935) 83 10 0 83 15 0 6 p.c. ,W. Aus. (19301940) 105 fl) 0 104 17 6 •Ex dividend.