COMMERCE AND FINANCE

Otago Daily Times, Issue 20288, 22 December 1927, Page 18

COMMERCE AND FINANCE

SLEEKLY MARKET REPORTS

Burnside, December 21.

Fat Cattle. —There were 170 bead yarded medium yarding consisting principally erf cows and heifers. Competition for all good beef was keen 1 and prices were Sightly firmer. Medium and inferior sorts were the same as last week. Extra prime bullocks, £l9; prime bullocks, £l6 to £l7; medium do, £l3 to £l4; inferior do, £lO to £lO 10s; best cows and heifers, £il 10b to £l2 15s; ■ medium cows and heifers, £8 10s to £9; inferior cows and heifers, £6 to £6 I Op.—Stronach, Morns, and Co. sold; For A. Y. Glen (Pukepito), 1 bullock £l7 2s 6d; Mrs H. M. Boyd (Stirling), 1 £l4. 1 £l4 ss, 1 £l3 17s 6d, 1 £lO 7s 6d, 5 heifers £8 7s 6d; Mrs W. Kirk (Mosgiel), 2 bullocks £ls 15s, 4 cows £9 ISs; J. C. Renton (Mosgiel), 2 bmiboks £ls 17s 6d; Alexander Scott (Burned©), 2 £l3 15s, 1 heifer £l3 15s, 1 cow £6 17s fid; Henderson and Co. (Invercargill, agents), 3 bullocks £l4 10s. 3 £l4 7s 6d, 2 £l3; W. A. Soper (Greenfield), 2 bul■lboks £l4, 2 £l2 7s; W. Lindsay (Allanton), 1 cow £l2 15s, 1 bullock £l3 17s 6d, 2 heifers £8 15s; client, 2 heifers £8 15s. ; (Ihe Otagao Farmers’ Co-operative Association of New Zealand sold: For D. Ireland (Mosgiel), 1 bullock £l7; Alexander Renton (Inch Clutha), 3 bullocks £l6 7s 6d, 2 £ls 15s, 3 £l4 ss; Mrs G. Kirk (Mosgiel), 2 £l4 15s, 2 £l3 10s; J. C. Renton (Mosciel), 2 £l4 15s; Robert Wilson (Riverside), 1 £l3 2s 6d, 1 £l2 10s, 1 £lO, 1 £lO 10s, 2 £l2 17s 6d, 1 £lO ss; F. Doherty (Out; ram). 1 heifer £l2 15s, 1 £l2 7s 6d; Taieri client, 3 heifers £9 12s 6cl, 3 £8 17s 6d, £8 12s fid; Mrs E. Banntyne, (Waikouaiti), 2 bullocks £l4 15s, 2 £l3 15b; William Lindsay (ADanton), 2 bullocks £lo 17s 6d, I £lO 17s 6d, 1 heifer £lO 17s fid, 1 £9 10s, 1 £7 15s; Charles Anderson (Outram), 1 bejfer £ll 17s 6d, I£B 2a fid.-—The National Mortgage and Agency Company New Zealand sold: For R. S T. Kirk (Mosgiel). 1 bullock £ls 17s 6d,’l £l4 15s; Vv. Lindsay (Allanton), 2 £ls 15s; James Renton (Mosgiel), 2 £l4-. New Zealand Loan and Mercantile Agency Co. sold For Kain Bros. (Stirling), 2 bullocks £l7 2s fid, £l6" 10s, 2 £l6 ss, 2 £l4 15s; a southern client, 2 bullocks £l6 12s fid, 2 £l6 7s fid, 2 £ls 15s, 2 £ls 12s fid. Dalgety and Co. sold; For William Lindsay (Allanton), 2 bullocks £l4; D. Ireland (Mosgiel), 2 bullocks £l4; J. C. Renton (Mosgiel), 2 bullocks £l2; a client, 3 bullocks £l3 ss* Wright, Stephenson, and Co. sold: lor It. Lochhead (Balclutha), 1 bullock £rß ilOs, 1 £l7 12s 6d, 2 £l7 2s fid, 1 £l6 15s, h £ls 17s fid, 1 cow £lO 12s fid; John .'Nimmo (Keith Hall, Mosgiel), 2 bullocks -£l6 10s, 3 £ls; Mrs W. Kirk (Mosgiel/, ■;i2 bullocks £l6 ss, 1 £l6, 1 £ls ss; L 'Gnrnio (Mataura Island), 1 bullock £ls 12b 6d, - 2 cows £l2 2s fid, 2 £ll 17s od, 1 £lO 7s fid, 1 £7, 1 £6 10s; W. Lmdsay (Allanton), 1 bullock £ls 7s 6d, 1 £l4 15s, 1 £l3, 1 heifer £9 10s, 1 £8 5s 1 £8 2s fid; D. Ford (Allanton), 1 heifer £8 15s, 2 £f 10b. Donald Reid and Co. sold: lor A. Gillies (Waimaku), 2 bullocks £lB, £l6, 2 £l4 12s 6d. 1 cow £l4 10a, 1 LlO 17s fid; James Renton (Mosgiel), 2 bullocks £l6 17 fid, 1 £ls 2s 6d; William Lmdsay (Allanton), 1 £ls 15s, 2 £ls 1 £l4 10s, 2 heifers £9; Henderson and Co., Ltd. (Invercargill), 1 bullock £ls 7s fid, 2 £l4, 2 £l3 15s. 3 £l3; executors late William Kirk (Mosgiel), 1 bullock £l6 2s fid 2 £l4, 2 heifers £6; a client, 2 bullocks 17s fid. „ Store Cattle.—Stronach Morns and Co. Bold : For J. Milne (MiddlemSVch). 1 cow £5 ss, I£4 2s. The Otago Farmers Cooperative Association sold: For A, (Sutton), 1 cow £2 17s fid, 2 vealers 42s fid, 3 32s fid: Smith Bros. (Glenesk), 1 cpw £ll 2s 6d. 1 £1 010 s, 1 £lO ss, 1 £7 Is 1 £6. 1 £5 7 S fid, 1 voaler £2 ss, 1 355; John Black Mataura), 1 cow £lO, 1 £9 7s 6d, 1 £9 2s 6d, 1 £6 1 £5 ss. 1 £4 10s, 3 vealers 355; Robert Wilson (Riverside), 1 cow £lO 7s 6d, 4 steers £5 a6s; J. Russell. “Lome,” Invercargill), 4 cows £lO 10s, 3 £9 10s, 2 £4 ; lan Johnston (Fairview), 3 £4 14s, i £5 ISs- William Lindsay (Allanton) 2 £9 10s, 5 £B, 1 £9, 1 £7 12s fid, 1 £7 Ms, 4 vealers £2, 3 3Ss; D. Ireland Mosgiel), 1 cow £9 7s fid. 1 £8 17s fid, 1 £7 17s fid, 1 heifer £5. 1 £5 10s, 4 steers £6 2s fid, 1 calf 27s fid; J. T. James (Middlemarch , 1 bull £lO 10s, 1 £8 8s; 1 M Clintock (Middlemarch), 1 cow £lO, 1 £7 12 s od 1 £6 17s fid; Geo. Robertson (Middlemarch), 1 £7 16s 1 £7 15s ; Thomas Dalziel (Brockville), 1 cow £6 12s 6d; Hope Bros. (Nenthorn) 2 steers £8 2s 6d, 3 cows £3 13s, 1 steer £2 12s 6d, 2 vealers ; James Blair (East Taieri). ! bull £5; Mrs E. Bannatyne (Waikouaiti), 1 Jensen (Caversham) 1 cow £6 10s; William Knox (Green Bland) 1 £5 7s 6d, W. Forrester (North-East Valley), 1 heifer £5 8s- J. Thompson (“Jubilee Farm, Abbotsford), 1 heifer £5 15s; Waitati client, 2 cows £3 16s; a Purakanui client, 1 steer £6 16s, 5 £4 11s, 3 cows *,3 16s, 1 £3; John Nicolson ("One Tree Farm ) 16 steers £4 fis; A. Watt (North-East Valley), 1 vealer £2 ss. The National Mortgage and Agency Company sold : For John Mathieson (Otokia), 1 calf £2 4s, 2 £2 Is, 1 20s 1 17s. New Zealand Loan and Mercantile Agency Company sold: For A J. Cameron (Outram), 2 bullocks 15s, 1 £6, 1 £5 10s, 1 cow £6 15 s -. Dalgety and Co. sold: For H. Little (Stirling), 1 cow £4 15s; T. Johnstone (Allanton), 1 calf 20s.— Wright Stephenson and Co. sold: For G. M Donald (Mahono). 7 steers £8 2s 6d; J. (Milton), 1 bulb"£7 ss. 5 cows £4 14s, 1 £3 14s 1 £3 7s fid, 2 vealers £3 I4a 1 £3 fis, 2 £2 19s, 1 £2 10s, 1 £1 Hs; J. Mowat (Leith Valley) 4 cows £4: 1Percy (Purakanui), 1 cow £6 15s; D. Smith (Portobello), 9 heifers £6 7ai fid, 10 £6, 2 vealers £1 10s; R. Cullen (Taieri), 1 bull £6; Mrs M. J. Hughes (Wylie’s Crossing), 7 steers £8 2s fid, 3 £6, 1 £5 ss; J. Stevens (Broad Bay). 8 cows £3 15s od, 3 heifers £3 7s. 1 cow £2 :* client, a cows £3 17s fid, 1 heifer £3 10s; 11. Johnson (Broad Bay), 1 cow £3 17s od I vealer £2 10s; client, 4 cows £2 17s fid , 5 Maxwell (Waitati), 3 yearlings £3 IZ=, l’ bull £5 15s. Donald Reid and Co sold: For Phil. Hellycr (Sawyers Bayl 1 cow £3 ss, 1 £2 3s, 1 vealer £1 11s; G. Ormond (Forsyth) 1 cow £6 6s, 1 17= 1 £4 17s- fed, 7 steers £o 7s; f client, 1 cow £6 ss. 1 £5 1 £4 2s: G Peters (Pino Hill). 1 £5 10s; H. Tisda.l (Middlcmarch), 4 honors £3 12s. 1 steer £3 9s; J. Eade (Pine Hill), 1 yea or £2 2b 1 calf £1; John Coventry (Weston), 7 ■vealers £2 Is. _ , * Dairy Cows.—The Otago Farmers Cooperative Association sold: * or r h oln w Dalziel (Brookville), 1 cow £6 15s, 1 £6 10 s ! 1 £4; Thomas Maxwell (Dunedin), 1 £7* 15s, 2 £6 10s, 1 heifer £5 12s_ fid; J. Thompson (Jubilee Farm, Abbotst,ord), 2 cows £6 10s; G. M’Mastcr (Saddle Hill), 1 £6 10s; a client, 1 £3l is fid, 1 £o 15s; Ronntag Bros. (Brockville), 1 £5 15s. - Wright, Stephenson, and Co. sold: tor J. Hall (N.E. Valley), 1 cow £7 15s; G. Donaldson (Burnside), 1 £7 15s: 1. l Maxwell (Dunoclin). 1 £6 10s, 1 £5 12s; fid; G M’Mastcr (Saddle Hill), 1 £7, 1 £5 ss; a client. 1 £4 17= fid; J. Smith (Pprtobelio) 1 £4 10s; John Cameron (Balcl’utha), 1 £4: a client, 1 £3 17= fid. Donald Reid and Co. sold: For A. Stevcn,on (E.ist Taieri), 1 cow £lO 10s; a client, 1 £10; E. G. Peters (Pine Hill), 1 £4 ss. Calves.—Stronach, Morris, and Co. sold: For Mrs D. Kuthven (Mosgiel), 1 calf 50s; (■;. Driver (Mihiwaka), 1 40s, 1 255, _1 20s, 1 15s; Mrs Steele Blackio (Mosgiel), 1 40s, 1 ICs; a client, 1 235. The Otago Farmers’ Co-operative, Association sold: Fo r James Alexander (Glenore), 1 calf 10s, 1 7=; F. Hay (Brighton). 1 14s, 1 10s, 1 8h; T. Maxwell (Dunedin), 1 15s; A. Movnihan, jun. (Momona). 1 14s, 1 10s; J Fe=ou (Brighton), 1 12s: T. Pearson (Clarksville), 1 12s; Mrs Johnston (Green Island), 1 8s; G. Irving (Otokia), 1 8s; Ford Bros. (Pine Hill), 1 B=, 1 .7= fid, 1 6s 6d; R. Brrxkbank (Kaikorai), 1 8s; J. A. Mathic.-on (Tomahawk), 1 8s; Craigio :;nd Harrington (Anderson’s Bay), 1 6s; a. client, 1 6= fid. New Zealand Loan and Mercantile Agomy Co. sold; For William M'Kenzio (Windsor), 6 calves £1 17s, 6 £1 11s. 2 £1: R. Paterson (Wind.-or), 1 £1 10s; S. Thompson (Windsor), 2 £2. Donald Hold and {V. sold; For Miss Daphne Borthwick (.Milton), 1 calf _ 50s; William Freeman (Milton). 1 17=; V> iMiarn Reid and Sons (Milton). 1 16s, 1 16s. 1 3=; Alexander Lockhart (Milton). 1 445, I). Grant (Lovell’s Flat), 1 20s; J. Richardson (Maungatua). 1 225; O. Grey (Milburn), 1 23=: L. Tavlor (Henley). 1 19s, 1 8=; Mrs J. Morrison (Henleyi, 1 225; George Ford (Owhiro), 1 3s; James Sinclair (Berwick), 1 IC=; J. l-.-ide ( Pine Hill), 1 os; K. J. Allen (Caversham), i 13s; W. Cook. 1 ss. Fat Sheep.—There wa= a medium carding, 1640 head being forward, consisting principally of owes. Competition for all prime sheep was fair at an of Is get head. Unfinished sorts were easier by

LOCAL AND OVERSEAS MARKETS.

Is per head. Extra prime woolly wethers to 51s; extra primes ewes to 455; extra prime shorn wethers to 41s 6d; prime ehom wethers, 35s to 375; medium shorn wethers, Sis to 355; interior shorn wethers, 24s to 265; prime shorn owes, 27s to 325; medium shorn ewes, 21s to 225; inferior shorn ewes, 14s to 16s. —Stronach, Morris, and Co. sold: Fc r R. Sotting (N.E. -Valley), 9 wethers 49s 3d, 11 495, 9 475, 3 ewes 20s 6d, 1 22s 9d; E. Dodds (Otamita), 18 shorn wethers 40s, 33 37s 9d, 11 355; .Alex. Scott (Burnside), 20 wethers 28a 9d. 8 ewes 32s 3d, 11 21s 6d, 14 19s 6d; \V. Bruoe (Momona), 9 16s, T. Johnson (Allanton), 8 15s; C. Harris (Maungatua), 7 11a 6d; H. J. White (Seacliff), 1 30s 6d.—The Otago Farmers’ Co-operative Association sold: For R. L. Reid (Willow Creek), 10 wethers 475, 9 ewes 43s 9d, 8 40s 9d, 6 365, 2 wethers 455, 7 owes 30s 3d, 1 455; a Milton client, 4 40s, 3 30s 9d, 1 wether 30s, 2 ewes 27s 6d; Jeffrey Bros. (East Taieri), 4 wethers 35s 3d; a client, 30 37s 6d; a Mosgiel client, 7 395; C.. T. Lowery (Lovoll’s Flat), pen owes 52s 3d; D. Ireland (Mosgiel), 12 32s 6d; a client, 11 51s 6d; James Douglas (Mosgiel), 228 s 6d: James Williamson (Wylie’s Crossing), 3 21s 6d. The National Mortgage and Agency Co. sold: For Peter Oftmpbell (Wyndham) pen shorn wethers 43s 9d, 12 41s. 10 36s 9d, 6 31 3s, 4 27s 9d; a client, pen ewes 35s 6d; H. E. Mitchell (Maungatua), 7 shorn wethers 335, 22 27s 3d p,A. Black (Heriot), 18 30s; H. Soott (Burnside), 11 30s 6d, 11 29s 3d; E. Andcrton (Glenledi), pen shorn ewes 20s 3d. Now Zealand Loan and Mercantile Agency Co. sold: For a Southern client, 25 wethers 365, 5 475, pen ewes 31s, pen hoggets 33s 6d; John Scott (Wangatoa), 13 wethers 34s 9d, 22 ewes 34s 3d, 12 30s; Kain Bros. (Stirling), 15 wethers 37s 3d; a client, 24 42s 9d, 13 41s, 20 39s 9d; Jaffray Bros. (East Taieri), 7 ewes 27s 9d; H. R. Finch (Milburn), pen wethers 40s 6d, pen ewes 28s 3d’ pen ewes 20s 6d; D. A. Drinnan (Milton), pen wethers 50s, 5 ewes. 20s 6d; H. Bathgate (Outram), 6 ewes 26s 3d, pen wethers 255; A. Light (Milton), pen wethers 45s 3d; John Allison (Clarksville), 7 owes 24s 9d; John M‘Donald (Mosgiel), 5 wethers 26s 9d. Dalgety and Co. sold: For John Eskdale (Tapanui), 15 wethers 40s, 18 36s 9d, 17 35s 3d, 19 32s 9d; Southland Frozen Meat Co., Ltd. (Mataura), 13 40s 9d, 14 37s 6d, 16 36s 9d, 21 28s 9d, 2 ewes 30s, 1 25s 9d; a client, 10 wethers 40s 3d, 16 37s 3d, 16 36s 9d, 16 265; Alex Scott (Burnside), 21 28s 9d. Wright, Stephenson, and Co. sold: For J. Saunders (Portobello), pen woolly wethers 455. 9 40s 3d, 2 hoggets 41s 6d; J. L. Mathicson (Highcliff), pen woolly wethers 44s 9d, 4 woolly hoggets 355; a client, 13 woolly owes 435, 11 41s 6d, 10 58s 3d, 9 37s 9d, 7 54s 9d; J. Nowlands (Waikaka), 4 woolly ewes 38s 3d, 5 50s; W. D. Hunt (Wallacetown), 21 shorn wethers 38s 3d, 23 375, 20 34s 6d; George Nichol and Sons (Allanton), 24 shorn wethers 34s 6d, 27 29s 9d, 19 275; H. Campbell (Kelso), 11 woolly ewes 54s 9d, 9 29s 3d, 14 shorn ewes 265; Gibson Bros. (North Taieri), pen shorn wethers 30s 6d; W. D. Naylor (Hindis Crossing), 32 shorn wethers 25s 3d, 26 shorn ewes 18s 9d; George Craig (Mosgiel), 3 ewes 20s; F; Usshor (Kelso), 11 20s; S. T. Spain (Clyde), 14 16s, 26 16s. Donald Reid and Co. sold; For William Allison (Clarksville), 3 wethers 475; J G. Dickson (Otamita), 5 45s 6d, 4 ewes 555; E. Dodds (Otamita), 18 wethers 4ls 9d, 22 37s 6d, 22 35s 9d; J., L. Skinner (Clarendon), 1 ewe 38s 3d; James Anderson (Lovell’s Flat), 4 wethers 35s 6d, 8 ewes 235; W. A. Baxter (Pomahaka), 17 wethers 355; Richard Stoddart (Outrajn), 2 345, 19 owes 17s; John Wilson (Omaknu), 2 wethers 345, 13 335; James Franc© (Milton), 4 ewes 31s 3d; A. Grieve (Middlemarch), 230 a 9d; Oliver Grey (Milburn), 1 31s 6d, 14 wethers 27s 6d; W. J. Houston (Lovell’s Flat), 1 50s, 1 owe 245; D. Russell (Milton), 12 wethers 27s 9d; G. and O. Elliott (Lovell’s Flat), 1 27s 9d; William Robinson, sen. (Moneymore), 2 owes 25s 9d; John Campbell (Momona), 225 s 3d; James Thomson (Maungatua), 20 24s 3d; a client, 10 22s 6d; James Kane (Clarendon), 3 225; J. Lochhead (Kaitangata), 12 20s 6d; H. G. Robinson (Moneymore), 11 18s 9d; exors William Kirk (Mosgiel), 15 18s; F. Driver (Mihiwaka), I 16s 6d; Arthur Twaddle (Balohitha). 5 21s. Fat Lambs.—A large yarding of 2329 head was forward. The quality, taken all over, was good. Competition at the commencement of the sale was good, but towards the end prices eased, and sales were hard to effect. Extra prime lambs, 36s 9d; prime do, 33s to 345; medium lambs. 29s to 31s; inferior lambs, 24s to 265. Stronach, Morris, and Co. sold: For R. Botting (N.E. Valley), 20 35s 9d, 16 335; T. Driver (Mihiwaka), 13 28s 6d; W. Bruce (Allanton), 9 30s 3d, 3 26s 9d; T. Johnson (Allanton), 1 34a, 16 28s, 13 25s 9d; C. Harris (Maungatua), 14 27s 6cl; A. Scott (Burnside), 16 325, 10 265; client, 9 30s, 11 295; A. Melville (Mihiwaka), 12 to 28s; W. A. Gardiner (Warrington), G 30s 6d; H. J. White (Seacliff), 19 265, 10 245, 5 25s 9d, 6 20s 6d, 10 17s 6d.- -—The Otago Farmers’ Co-operative Association sold: For E. Lowery (Clarksville), 7 355; R. Bruce (Milton), 6 345; M. Finch (Milton), 4 33S 6d; James Lowery (Milton), 4 33s 3d; D. M'Gregor (Milburn), 5 34s 3d; R. Clearwater (Portobello), 13 335, 8 30s 3d; J. Sheppard (Portobello), 13 33s 6d; A. G. Lewis (Portobello). 14 33s 3d; C. Cross (Poatiri), 16 32s 6d; F. Doherty (Outram), 29 3253 d, 15 26s 6d, 28 265; A. Finch (Milton), 3 325; George Whyte (Glenledi), 7 30s; J. M'Groutber (Milburn), 7 30s; client, one truck 32s 6d; C. Finlay (Mosgiel), 18 32s 3d; D. Ireland (Mosgiel), 26 345, 15 29s 9d, 16 29s 3d; client, 3 29s Od; W. Finch (Milton), 9 29s 9d; W. D. Wright (North Taieri), 4 29s 9d; Jeffrey Bros. (East Taieri). 10 295; T. G. Dodds (Milton), 7 28s 9d, 3 23s Dd; George Craig (Mosgiel), 5 28s; R. Mitchell (Outram). 6 26s Cd, 1 24s 6d; James Douglas (Mosgiel), 16 265; J. Williamson (Wylie’s Crossing), 28 26s 3d; T. H. Pugh (North Taieri), 9 26s 3d; Charles Harris (Maungatua), 9 25s 6d; R. Mitchell (Outram), 16 26s 3d; Ford Bros. (Mihiwaka), 11 235, 14 22s 3d; H. J. White (Seacliff), 8 245. The National Mortgage and Agency Company of New Zealand sold: For a client, 4 30s 9d, 36 33s 3d, 22 29s 9d 8 24s 3d; Peter Campbell (Wyndham), 4 35s 6d, 13 335, 10 20s 9d; F. Lunan (Tokoiti), 4 30s: P. Scanlon (Milton), 12 30s; J. H. Mathewson (Dunedin), 10 29s 9d; 11. J. White (Seacliff), 10 26s 3d; D. Ireland (Mosgiel), 0 26s 6d; H. E. Mitchell (Maungatua), 8 25s 6d; clients, 30 to 27s 6d. New Zealand Loan and Mercantile Agency Co. sold; For John M'Donald (Mosgiel), 15 30s 9d, 15 345, 12 32s 3d: John Allison (Clarksville), 10 33s 3d; Hugh Cameron (Glenore), 20 31s Cd; a client, 3 335; T. Finnic (Saddle Hill), 40 31s 3d; E. Finnic (Saddle Hill), 4 30s; D. M’Gregor (Milburn), 3 31e; a client, 7 34s 3d, 14 20a Od; K. Murray (Clarksville), 7 265; a client, 20 34s 9<l, 30 31s 3d, 10 29s 9d; Jaffray Bros. (East Taieri), 10 3!s 3d; D. A. Drinnan (Milton), 9 31s 3d; W. West (Milburn). 229 s Od. Dalgety and Co. sold; For P. Williamson (Milburn), 234 s 3d; W. D. Wright (North Taieri), 4 34s (id: D. M'Grcgor (Milburn), 3 32s 9d; W. Finch (Milton), 8 30s; J. A. Mathewson (St. Hilda). 10 32s 9d; S. and A. Young (Outram), 5 31s 9d, 6 29s Gd; John Young (Allanton), 21 29s 9d; executors W. Kirk (Mosgiel), 18 325, 18 28s Od: G. H. Craig (Mosgiel). 5 31s 6d; G. M'Master (Saddle Hill), 2 25s 3d; a client, 2 265; C. Harris (Maungatua), 12 28s Cd. Wright, Stephenson, and Co. sold: For J. Shepherd (Portnbello), 13 34b Od; C. Cross (Portobello), II 34a, 4 275: T. Donaldson (Mihiwaka), 10 32s !)<V client, 22 29s Cd; S. and A. Young (Outram), 11 32s 3d: R. Mitchell (Outram). 25 325, 43 27s 3d, II 2.is; J. Maxwell (IV aikaka), 5 31s 6d: J. Baxter (Oamaru). 3 29s 9d; Gibson Bros. (North Taieri). 20 29s 3d; Mrs V\. Kirk (Mosgiel), 21 28s 9cl, 10 275: S. T. Spain (Clyde), 13 28a Cd, 10 26s 0d; Mrs E. Harris (Maungatua), 14 2is 9d; J. Roberts (Palmerston), 12 27s 9d, 15 265; client, 14 25s 3d.— —Donald Reid and Co. sold: For J. G. Dickson (Otamita), 13 30s, 24 31s Cd, 14 30s Cd; J. Thomson (Maungatua), 31 33s od, 19 23s Gd, 4 !3s; Robert Bruce (Milton). 6 33s 9d: Mark Finch (Milburn). 4 33b 3d; J. J. Walker (Otokia), 4 31k; A. Grieve (Middlemarch), 15 335, 13 32s 3d; V\. Kobi son. sen. (.Moneymore), 7 31s Cd; Mrs C. Wisely (Milburn I. .".1 30s Od; A. (1. Finch (Milton), 4 30s fid, 230 s fid, 5 29s !)d; J. Young (Allanton 1. 19 30s. 22 20s Od; P. Williamson (Milburn). 2 395; W. Allison (Clarksville), 16 30s: H. Clark (Portobello). 229 s fid: W. J. Houston (Lovell’s Flat), 8 295; A. Twaddle (Balclutha), 31 295, 14 255,

35 25b 6d; James Kane (Clarendon), 33 29s 9d; J. H. Paul (Milton), 22 28s 9d; G. 0. Elliott (Lovell’s Flat), 21 28s 6d; H. G. Robinson (Moneymore), 10 28s 3d; P. Driver (Mihiwaka), 228 s 3d, 10 28s; S. and A. Young (Outram), 22 27s 6d; Jaffray Bros. (East Taieri), 5 27s 6d; Mrs Seed (Milton), 19 27s 3d; William Finch (Milton), 8 275; John Campbell (Momona), 12 275, 14 25s 6d; D. Kerr (Lovell’s Flat), 8 275. J. L. Skinner (Clarendon), 20 26a 9dj executors John Strain (Milburn), 20 2Gs 9d; Raitt Bros. (Milburn), 21 26s 6d; James Anderson (Lovell’s Flat), 18 20s Cd; James Gardyne (Milton), 14 26s 3d; J. H. Jaffray (Milton), 10 26s 3d; Frank Quelch (Milton), 31 25s 9d; C. Harris (Mnungatua), 10 255; R. Stoddart (Outram), 5 24 s.

Fat Pigs.—There was a medium yarding 115 being penned. Competition at the start of the sale was a shade firmer, but towards the end prices eased. Baconers, £3 5s to £3 10s; porkers, £2 10s to £3; light porkers, £2 to £2 ss. Stronach, Morris and Co. sold: For Mrs Lonio (Seacliff), 1 pig £3 sb, 1 £2 lie, 1 £2 7s; C. Driver (Mihiwaka), 2 £2 13s; Mrs G. M. Muir (Warrington), 1 £2 16s, 1 £2 11s; J. Moloney (Burkes), 1 £2 13s, 1 £2 12s, 2 £2 8s; Mrs R. Gibson (Mosgiel), 2 £1 12a. The Otago Farmers’ Co-operative Association sold: For J. Wilson (Maungatua), 1 pig £3 7s 1 £2 15s; W. A. Hastie (Pine Hilfi, 4 £3 ss, 2 £3 4s, 313 is 2 £3- Bowen Bros. (Burnside), 4 pigs £o 3s, 2 £5, 1 £2 19s, 1 £2 14s; North Otago Farmers (Oamaru, as agents), 4 £3 3s; W. Williamson (North Taieri), 1 £3; W. G. Taylor (Mosgiel), 1 £3. 1 £2 13s; A. S. Cullen (East Taieri), 1 £2 19s; E. Edmonds (Leith Valley), 1 £2 14s, 1 £2 10s; H. Flett (Leith Valley), 1 £2 6s; J. Maloney (Burkes), 1 £2 13s, 1 £2 ss. The National Mortgage and Agency Co. sold: For H. Shirley (Palmerston), 1 pig i£3, 1 £2 18s, 1 £2 12s 5 £2 10s, 4 £2 9s; George Goodwin (Goodwood), 2 £3 Is. New Zealand Loan and Mercantile Agency Co sold: For D. A. Drinnan (Milton). 3 £3 ,3s, 3 £3; W’illiam W'Kcnzie (Windsor), 4 £3 ss, 1 £3 2s, 2 £2 9s. Wright, Stephenson and Co. sold: For lan Lindsay (Allanton), 4 pigs £3; C. Brenssoll (Outram) 3 £2 6s; D. J. Cullen (Last Taieri), 2 £2 - ss; A. M‘Kenzie (Fairfield), 1 £2 3s; T, Wilson (Mosgiel), 3 £2 17s; J. Ross (Pine Hill). 2£2 Is. Donald Reid and Co. sold: For Henry Tisdall (Middlemarch), ‘ 2 pigs £3 12s, 1 £2 15s; Alex. Wilson (Kelso, ex R. P. Sim as agent), 2 £3 2s, 2 £2 17s, 3 £2 15s, 4 £2 12s, 1 £2 ss; R. H. Michelle (Milton), 2 £3 7s; R. G, Lockhart (Clarksville), 1 £3, 1 £2 10s; a client, 4 £2 18s, 2 £2 15s, 1 £2 11s 1 £2 10s; O. Stenhouso (Halfway Bush)', 3 £2 16s; Mrs E. Wishart (Henley), 1 £2 14s; Thomas Spain (Mornington), 5 £2 9s, 1 £2; John Isbister (Momona). 1 £2 Bs>, 1 £1 13s. Store Pigs.—Prices for all sorts were a shade firmer. Large stores, 28s; slips, 22s to 245; puckers, 12s upwards.—Stronach, Morris and Co. sold: For J. Esler (Waikouaiti), 4 pigs 15s fid, 4 12s; J. Hill (N.E. Valley), 6 15s, client, 4to 15s fid. The Otago Farmers’ Co-operative Association sold: For D. M'Kay (Mosgiel), 5 pigs 255, 4 235; H. Flett (Leith Valley), 1 225: W. M'Cran (Leith Valley), 218 s 6rf 217 s 6d. New Zealand Loan and Mercantile Agency Co. sold; For Wm. M'Ken/.ie (Windsor), 1 sow £3 15s. Wright. Stephenson and Co. sold: For W. M‘Caw (Leith Valley), 1 pig 225, 3 20s; J. Taylor (Otokia), 3 15s; James Howard (E. Taieri!. 6 18s; client, 3 15s. Donald Reid and Co. sold: For Alex. M'Millnn (Momona). 9 pigs 325: George Newman (Momona). 3 28s: D. J. Cullen (East Taieri). 3 275.6 d; Thomas Spain (Mornington), 1 265; Bowen Bros. (Concord), 4 255. 2 225, CHEAP MEAT. We sell only prime ox beef, wetaer mutton, prime lamb, dairy-fed pork; for quality the cheapest shops in ti.n. Wc specialise in orders from country =,idents. —Salisbury Butchery Shops, Stuart street, George street, and Princes street.— Advt.

ADDINGTON MARKETS. IPbb United Feeds Association.) CHEISTCHURCH. December 21. There was a double market at Addington to-day except in the fat lamb section in which there was a largo entry of 5700 head. Generally, the yarding was of ordinary size. Practically all classes maintained last week’s rates to a shade better. Store Sheep.—A considerably larger entry with several good linns of wethers. For those few butchers competed, but generally it was a good, free sale, with prices showing a tendency to improve. Valuas_ wore as follows:—Forward four and six-tooth crossbred wethers, 25s to 26s 3d ; four and six-tooth wethers. 22s to 24s 10d; good two-tooth wethers, 20s 6d to 21s lOd ; inferior two-tooth wethers, 18s 9d to 19s; aged ewes and lambs, 16s 6d to 13s 9d; four-tooth crossbred ewes, 27s 6d to 28s 6d; six-tooth crossbred owes, 2Ys 6d; aged ewes. 9s to 12s 6d, Fat Lambs.—Three thousand seven hundred head were entered. All except a few hundred were taken by butchers at a full lOd per lb above the export rate. Prices: Extra prime lambs, 32s 6d to 56s Id; prime, 29s to 325; medium, 26s 6d to 295; light, 22s 6d to 25s 6d. Fat Sheep.—There was an ordinary-sized entry of 11 races, including a few North Island and Chatham 'sheep. Over the earlier stages, there was a, steadying on last week’s slide, but the final part eased in price to last week’s level. However, it was a most uniform sale. Prime wethers made 31s to 36s 4d; medium wethers, 27s to 30s; light wethers. 23s to 26s '6d ; extra prime ewes, 29s to 53s lOd ; prime ewes, 24s to 28s; medium ewes, 20s to 235; light ewes, 16s to 19s. Fat Oattle. —A small entry of 475 hoad was forward, compared with the recent averages for ordinary sales of close on 600. The market improved slightly on last week over the earlier stages, but eased towards the finish. Best beef realised 38s to 41s per 1001 b; medium, 34s to 375; heavy, 33s to 365. Medium cow, 29s to 32s Id; and rough, down to 255. Extra heavy prime steers brought to £l9 7s 6d; prime heavy steers, £ls to £18; mediumweight steers, £ls to £l6 5s r light steers, £8 to £l2; extra prime heifers, to £ls 7s 6d ; prime heifers, £ll to £l3; medium heifers, £S 10s to £lO 15s 6d ; light heifers, £6 10s to £8 ss; extra prime cows, to £ls 2s 6d ; prime cows, £lO to £l2 15s; medium cows, £7 10s to £9 15s; light cows, £4 10s to £7. Vealors.—There was a small entry, but sufficient for requirements. Twelve to 18 months’ sorts made to £7; vealors, £3 5s to £5 15s; others, 21s to 355. Store Cattle. —There was a very small entry with no straight lines. To quote, best cows made £3 10s to £4 4s; best heifers, £3 5s to £4 3s 6d ; bulls, £4 to £9 16s.

Dairy Cows. —There was ;a very small entry, best cows brought £8 to £9 10=; medium,, £6 to £7 10s; inferior, £4 to £5 10s; best heifers. £6 10s to £9 6= fid ; others, £5 fis to £6.

Fat Pigs.—A small entry of baconers was forward, hut a larger one of porkers. Bacon was weak, but pork met. with a fair demand. Choppers made £2 to £5 6s; light baconers, 52s to 625: heavy, 63s to 70s. Average price per lb 4d to sd. Light porkers brought 32s to 435;- heavy porkers, 45s to 50s. Average price per lb, sjd to 6|d. Store Pigs,—There was a smaller entry and a tendency to improve for good pigs Weanors realised ll s to Ifi.s fid ; ' extra goorl weaners, 17s to 2j s; slips. 16- to 21= Id; medium stores. 19s to 21s Id; largo stores, 25s to 30-; extra good stores to 34s 6d.

THE TALLOW MARKET. f Press Association— By Telegraph—Copyright.) ' LONDON, December 20. (Received December 21, at 5.5 p.m.) At the tallow sales 626 casks were offered and 208 sold at about 6ci decline—--395, 35s 6d, 40s fid, 55s 6d. —A. and N.Z. Cable. Messrs Dalgety and Co., Ltd., advise having received the following cablegram from their head office, London, dated December 20. At the London tallow sale held on DocemI,cr 20 626 casks were offered, and 33 per cent sold. Brim- are par to 3d per cwt. lower. Quotations are a- follows:—Fine iniiiln I, 39s fid ; mixer) goorl, Z?=; inferior, CHICAGO WHEAT MARKET. lIVS3 Arroerua-m I:-,- T-Pgr .ph —foevri::!,!.) NLW YORK. December 20. Chicago wheat; Deer mher, 127 cenj- per hip}.,.!; Mars h 123; Muv, 130 L-A. and N./. Cable. NEW SOUTH WALES LOAN. (pic-sa A, so'-irdor: —Pv I, !■ .-ra: li-C• <fjvr;rrt:t ! _ LONDON. December 20. 'File underwriters renuve fi>2 per coni, of the- New Soe.th W:i!os loan. —A. and N.Z. Cable.

THE SHARE MARKET. DUNEDIN STOCK EXCHANGE. Commercial Banks were easier on the Stock Exchange, a parcel changing hands at 295. Other lots were wanted at that price, but .sellers would not accept less than 29s 4d. Further business was done in National Insurances at 15s Bd. Auckland Amusement Parks were on offer at 15s Cd, .buyers’ quotation being 14s. The best offer for Upper Nevis was 21s. Sales: National Insurance, 15s 8d; Commercial Bank, 295. The following are yesterday afternoon’s buying and selling quotations, which are subject to the usual brokerage:— BANKING. Bank of Australasia —Buy £l4 12s, sel £l4 17s 6d. Bank of N.S. Wales —Buy £45 10s. Bank of New Zealand —Buy 58s 6d, sel 595. Bank of New Zealand (D issue) —Buy 265. Commercial Bank—Buy 295, sel 29s 4d. National Bank of N.Z. —Buy £6 17s, sel £6 18s 6d. National Bank of Australasia —Buy £l7. Union Bank—Buy £l4 10s. BREWERIES. N.Z. Breweries, Ltd.—Buy 40s, sel 43s 9d. N.Z. Breweries Debent. —Buy 235, sel 23s 6d. INSURANCE. National Insurance Co. —Buy 13s 6d, sel 15s fld. N.Z. Insurance Co. —Buy 40s 3d. South British Insur. Co.—Buy 57s 9d, sol 58s 3d. SHIPPING. Burns Philp—Buy 355. Huddart-Parker (ord.) —Buy 47s 6d, sel 4Ss. Huddart-Parker (pref.)—Buy 20s Bd, sel 21s 3d. COAL. Westport Coal Co.—Sol 325. Westport-Stockton (ord.) —Buy Is, sel Is 6d. Westport-Stockton (pref.)—Sel 3s 3d. Kaitangata—Sel Is dis. LOAN AND AGENCY. Dalgcty and Co. —Buy £l3 2s 6d, sel £l3 ss.

N.Z. Loan and M. (ord.) —Buy £7O. Trustees, Ex„ and Agency—Sel 61s. Wright, Stephenson (ord.) —Sel 21s 6d. Wright, Stephenson (pref.)—Sol IGs. MEAT PRESERVING. N.Z. Refrigerating (paid)—Sel 17s. N.Z. Refrigerating (cont.) —Buy Bs, sel 8s 7d. MISCELLANEOUS. Auckland Ainus, Park (ord.) —Buy 14a, sel 15s 6d. British Tobacco—Buy 39s 6d. Brown, Ewing (ord.) —Buy ,30s, sol 335. Brown, Ewing (prof.)—Buy 20s Od. Bruce Woollen Co. —Buy 11s. D.I.C. (ord.) —Buy 9s prem. D.I.C. (prof.)—Buy 20s Cd. Dominion Investments —Buy 225. Dominion Rubber —Sol 47s 3d. Donaghy’s Rope and Twine —Buy 33s 9d. Dunedin Stock Exchange Ppy.—Sel 82s Cd. Eclipse Petrol —Sel 10s 3d. Kaiapoi Woollen (pref.)—Buy 14s, sol 14s 9d. Milburn Lime and Cement —Sel 335. Milburn Lime and Cement (new issue) —Buy 8s 3d prom. Moagiel Woollen Co.—Buy £6 12s. . M'Leod Bros. —Buy £2B. National Electric—Sel 13s 6d. ' N.Z. Drug Co. (£2 paid)—Buy 68s 9d. N.Z. Express (ord.) —Buy 20s. N.Z. Milk Prods, (bonds) —Buy 225. N.Z. Paper Mills (ord.)—Sel 17s. Otago Daily Times —Buy 72s 6d. Wilsons (N.Z.) Cement —Sel 37s 6d. MINING. Kawarau G.M. Co.—Buy 6d. Nokomai Sluicing—Sel 40s. Waihi—Buy 22s 3d. Mount Lyell—Sel 27s 6d. Upper Nevis—Buy 21s, sel 355. Big Beach —Sel 20s. WAR BONDS, per cent. Bonds. 1930—Buy £O6 12s Cd. 44 per cent. Bonds. 1938 —Buy £96 17s 6d. 5J per cent. Soldiers’ Bonds, 1933 Buy £lOl. 44 per cent. Inscribed. 1938 —Sel £97 2s 6d. 54 per cent. Soldiess’ Inscd., 1933—8uy £lOl. 5 per cent. Postal Inscd., 1929—8uy £9B 10s. 5,1 per cent. Insc. Bonds, 1927-41—Buy £9S 10s. 5i per cent. Bonds, 1930—Buy £9B se.

NORTHERN EXCHANGES. (Per United Press Association.) The following business was done on ’Changes yesterday:— Auckland. —Sales; Union Bank of Australia (£5 10s paid), £8 15s; Hikurangi, 3s lOd (two); Hikurangi A pref.), Cs 7d; Waipa, 16s 2d; Auckland Gas, 23s 7d; Northern Steamship, 15s (two); New Waiotahi Gold Mining (cont.), 7d; Waihi, 22s 9d. Christchurch.—Sales: Commercial Bank of Australia, 29s sd; National Insurance, 15s 6d. Sales reported: Bank of Now South Wales, £45 10s; New Zealand Insurance, 40s 9d; British Tobacco, 39s Gd, 39s Bd. GORE STOCK SALE. (From Our Own Correspondent.) GOUE, December 20. The last fortnightly Gore stock sale for this year was held on Tuesday in the presence of a small attendance of farmers. There was a small entry of fat sheep, only 57 being penned, but some good quality fat wethers were offered and made good competition at firm rates. A pen of woolly wethers sold on behalf of a client of the National Mortgage and Agency Co., Ltd., realised 445, at which figure they were secured by Mr W. Cox, Gore. A nice lino of shorn four and six-tooth wethers sold by Dalgety and Co., Ltd., made 365, fat woolly owes 51s, and a fat owe hogget 325. A small lot of fat lambs were on offer, but wore passed in at 16s 6d. In the store pens the yarding numbered 621, comprised mostly of ewoa and lambs. One lino of over 409 was ixissed in at 19s sd. all counted, while a line of 85 made 16s 9d. A nice line of well woolled wether hoggets was disposed of at 325, and a pen of dry ewes realised 16s. There was some good quality ox, cow, and heifer beef picnned, and tho fact that there will be no sales for tho next tlireo weeks made keener competition amongst the butchers, am! prices all round had an improved tone on recent markets. Three prime heavy weight bullocks offered by Messrs J. E. Watson and Co., on account of tho Southland Frozen Meat Co., Matnura, topped tho market, one making £l6 17s Gd. while two others made £ls. All were purchased by Mr W. Cox, Gore. A light steer changed hands at £lO 7s 6d, and well finished heifers made from £7 10s lo £lO. while lighter and poorer sorts made £6 down to £3 7s 6d. Heavy rows made from £9 10s to £ll, and lighter and unfinished sorts £5 12s 6d to £6 17s 6d. A couple of vealers made £1 17s.

In tho store pons there was a fair entry, and the market was about on a par with recent sales. Dairy cows dose to profit changed hands at from £5 _l2s 6d to £7 12s; 6d. Young steers realised from £2 15s lo £5 15s, and store cows £3 10s.

CANADA’S BUTTER IMPORTS. THE ANTI-DUMPING DUTY. (Freia Association—By Telegraph—CopyrigM.) OTTAWA, December 20. While no official announcement is obtainable from the Government, it is learned on excellent authority that tho National Dairy Council’s application for tho rcimposition of the anti-dumping duty against Australian and New Zealand butter will not be granted. Mr Robb’s statement to that body during the recent interview is considered final.—A. and N.Z. Cable.

LONDON PRODUCE MARKETS. The following cabled advice has been received by tho Bank of New South .Wales: Wool.—The market closed firm. ' Mutton.—Wethers. 4£d to 6|d, quiet, iirin * owes, 4d to sd, fair demand; Limbs, 7jd to 9|d, firm, little business doing. Beef.—3d to 4Jd, depressed, heavy stocks Argentine. Pork. —8d to 9d. Butter,— ls6s to 160 s; little more doing. Cheese.—9os- to 925; slowFRUIT EXPORT SEASON. GOVERNMENT GUARANTEE INCREASED. (Pep. United Press Association.) WELLINGTON, December 21. Cabinet to-day decided to increase the Government fruit guarantee from 10s per case to 11s per case for the coming export season. Mr 0. J. Hawken (Minister of Agriculture) stated that the guarantee of 10s did not provide sufficient finance to work upon. BUTTERF'AT PAYMENTS. SEVERAL TARANAKI RECORDS. (Per United Press Association.) HAWERA, December 21. Owing mainly to the final bonus on last season’s butter-fat, the monthly payout yesterday constituted a record in the history of several South Taranaki dairy companies. Two of the largest, the Jolle and Hawera factories, distributed £47,000 and £43,000 respectively. Over the district between Patea and Opunake the payment totalled £29,000.

COMPANY BALANCE SHEETS.

PACIFIC PRESERVING COMPANY, LIMITED. Paid-up Net Dividend Sep. 30. Capital. Deservcß. Result. Pref. £ £ £ p.c. 1020 ... ... 12,500 2247 *2750 7 1921 12,500 1081 t 260 1922 12,500 1023 12,500 1924 ._ ... 15,232 -4573 1025 ... „ 10,589 t 3368 1926 ... _ 16,727 1927 16,805 t 41 •Profit. ILosb. Although the balance for the past season comes out on the wrong side, the result is the most satisfactory for five years. After an uninterrupted sequence of losses the debit on the annual trading has been reduced to £4l. which, if unsatisfactory in itself, is encouraging when compared with the results of preceding years. As the position hag been attained gradually, it seems not unreasonable to expect that the current year, if given normal conditions, may o.isu a balance on tho right side to be applied in reduction of the accumulated deficits, totalling £10,301, now carried forward. Each side of the profit and loss account hag contributed towards the improved result. Charges are down by £BOO, bringing them to their lowest figure in the company’s history, but as they are grouped, it cannot be ascertained in which directions economy has been effected. It is seen from the balance sheet that the depreciation allowance is larger by £122 than it was a year ago, so that the reduction has not been assisted from that source. It is gratifying to find an increase of over £ISOO in the balance on trading account. A smaller rent-roll counteracts that addition to the revenue to a slight extent, but it may bo that the property concerned is being put to more profitable employment in other ways. A comparison of charges with trading account giveg the following ratios:

Trading Chars’ea. Account. Ratio. £ £ P-c. 1910-30 63 IS 8962 69.38 1020-31 4903 4711 103.96 1921-23 5382 3650 08.80 1022-23 5837 *3074 10°3-24 6286 1601 3<1.63 1931-25 6802 3389 201.00 1925-2 G ... 5151 3011 179.23 10 2 6-27 1050 157 8 101.57 •Debit, Except that unpaid calls of some £/8 have been met during the year, capital remains as before. It is gradually being; approached in amount by tho liabilities which aggregate £13,892. The bank is the controlling creditor with an overdraft of £11,499. This is more than £2900 higher than a year ago, and, if it be takep as an average amount spread over the year, must in itself involve a heavy burden in interest. Secured by debenture over the whole of the company’s assets and undertakings, its margin of security has been reduced’ in proportion with its larger advance. With the disappearance of mort gage on cottages, the rest of tho liabilities consist of bills payable and sundry creditors, amounting to £2394. Further interest charges are probably incurred here, but as the respective figures of the two component parts aro not stated, no idea is given a s to the extent. The liquid assets are divisible between sundry debtors and stock. The formers total of £2677 is arrived at after making an allowance of over 7 per cent for bad debts. Some realisation has taken place during tho year, materially altering the relation of sundry debtors to the stock. Tho growth of tho stock to £8536 is perhaps the most noticeable feature in the balance sheet. To its increase tho larger bank overdraft may bo traced. It has also absorbed tho proceed.* from nxed property with the result that instead of as at September, 1926, when it was little more than equivalent to half of the fixed assets, it new exceeds them by nearly £IOOO The assumption is that at any rate a part of the stock is of a perishable nature, and liable to quick deterioration making quick sale imperative, a point that is ot some importance when its relation to the balance on trading account i s considered. A "eneral alteration has taken piece in the fixed assets by the action of additions, sales, and depreciation. By realisation, land is reduced to £735, while buildings of the value of £5lO have been sold. This may explain the smaller revenue from rents. The addition of £243 to plant and machinery is more than counterbalanced by the generous depreciation provision of approximately 15 per cent Attention has been consistently paid to tho wasting assets and benefit should be derived from that policy later on. Inclusive of office furniture cash, and tools, tho aggregate is £7592 as against £8771 a year earlier, showing that nearly £I2OO has been releasee, and has flowed into the more liquid form of Thc Cl itcm of goodwill remains at £1592. It has not been found possible so far to write it off, and, as matters stann, it may be added to the appropriation balance of £10,301, shown among the assets. ilie company is thus faced with a debit of Pll 893 to clear off before it can meet the So unfettered. Whether such a task : , v ithin its powers remains to bo seen. While' the fact that the adverse annual balance has been steadily reduced encourages the hope that the trading is being gradually bettered at the same time each xear is adding to the burden. If the corner to bo turned, it must be turned soon.

BUTTER in SYDNEY. INCREASE IN WHOLESALE PRICE. , Press Association Hv SYDNEY, December <2l. (Received Dec. 22. at 0.30 a.m.) The wholesale price of butter has been increased by id (o Is 7jd per lb. MELBOURNE HIDE MARKET. I>rc.»» Association P.v Tclcarapb —CopyTiK.it I MFf BOURNE, December 21. (Received Dee. 211, at 0.30 a in.) The hide market i= extremely firm all r ,and values are unaltered.

... bailies’ of the British llo.val ('icirt now consist of the Mislic..s a! fne Robes, Lad fes of the Bedchambers. Women of the Eedrhamlter. and Maids of Honour. Four of the Women of the Bedchamber net r.a Queen Mary’s secretaries.