COMMERCE AND FINANCE

Otago Daily Times, Issue 20316, 26 January 1928, Page 16

COMMERCE AND FINANCE

WEEKLY MARKET REPORTS. BURNSIDE, January 25. Pat Cattle. —About 260 wero penned, comprising a fair entry of prime, heavy bullocks, and a large proportion of cows. From the outset the sale was a dragging one, and values can be quoted easier by £1 per head. Values wero—Extra prune heavy bullocks, to £lB 2s 6d; prime, £l3 10s to £ls; medium, £ll to £l3; lighter, from £10; prime heifers to £ll 7s 6d; lighter, £6 10s to £8; best cows, to £ll 2s 6d; medium, £7 to £8 10s. —The New Zealand Loan and Mercantile Agency Co. sold: For W. Alexander Gow (Outrarn), 1 bullock £8 2s fid, 2 £6 15s, 2 £l4 10s; Kain Bros. (Stirling), 1 £l6 7s 6d. 5 £l4, 2 £l3 17s bd, 1 £l2; John M’Manus (Tokanui). 2 £l6 7s 6d, 1 £ls 7s 6d, 1 heifer £ll 7s 6d, 1 £7 12s 6d; William Kirk (Mosgiel). 2 bullocks £l4 7s 6d ; Walter Blackic, 2 £l3 12s fid; William Lindsay (Allanton), 1 £l3 10s; M. Goughian (North Taieri), 2 £l3, 2 £l2 ss. 3 £ll 7s 6d, 1 heifer £9 10s, 1 £6 10s. Stronach, Morris and. Co. •old: For A. J. Bell (Stirling), 2 bullocks £ls 12s 6d, 1 £l4 7s 6d, 2 £l3 17s fid, 2 £l3, 1 £lO 12s fid; G. S. Wilson (Glenqmiru), 2 bullocks £ls 12s 6d, 2 £ls,_ 3 £l4 12s fid; Executors late William Kirk (Mosgiel), 1 £ll 5", 1 £9 2s 6d; client, 2 £lO 15s 1 heifer £9 10s, 1 £9 ss, 1 cow '£7 12s fid. 1 £7 7s fid; A. Scott, 1 cow £3 15s 1 £9 7s fid : W. Lindsay (Allanton). I£7 12s 6d, I£7 10s; D. Ireland (Outrarn), 1 heifer £6 10s. Wright, Stephenson and Co. sold; For W. E. Hunt (W 7 allacetown), 4 bullocks £l6, 4 £ls 5s ; G. Nichol and Sons (Allanton), 5 £ls 15s, 1 £ls, 3 £l3 17s fid, 3 £l2 15s; Mrs W. Kirk (Mosgiel). 2 £l4 17s 6d; F. A. Price (Waikiwi), 3 £l4 ss. 2 £l2 10s. 3 £ll 15s 1 cow £9 7s fid, 1 £8 10s. 1 £8 12s fid, 4 £7, 1 £6 17s fid; J. O. Renton (Mosgiel). 2 bullocks £l2 17s fid ; William Lindsav (Allanton), 2 £l2 2s fid, 1 cow £7 7 S fid. 1 £7; J. Crawley (Lawrence), 1 bullock £lO 10s, 1 cow £7 17s fid; A. Moynihan, jun. (Momona). 1 heifer £9. 1 cow £8 7s fid, 1 £7 15s; D. Ford (Allanton). 2 cows £8 5s 1 heifer £8; D. Munro (Fortrose), I cow £8 2s sd, 1 cow £7 17s fid. Donald Reid and Go. $old: For J. S. Fleming and Co. (Titiroa), 4 bullocks £ls, 4 £l4; William Lindsay (Allanton), 1 £l3 7s fid, 1 cow £lO ss, 1 heifer £8 10s; J. C. Ronton (Mosgiel), 2 bullocks £l2 10s: Walter Blackie (Mosgiel). 3 £l3; Henderson and £?o.. Ltd. (Invercargill, account J. Graham), 3 £l2 7s fid. 3 £ll 10s, 3 £lO 2s fid ; executors late William Kirk (Mosgicl),_ 2 £lO TSs; David Ireland (Mosgicl), 3 heifers £9 ISs; E. Harris (Heriot), 1 cow £8 15s; .Mrs M'Neill (Momona), 1 £8 17s fid. 1 £5 -ss; Mrs I. Miller (Brighton), 1 £8 10s; R. F. Sim (as agent, E. Ottrey), 1 £8 7s fid; R. F. Sim (as agent, Mr s Aitcheson), I£7 2s 6d. Dalgety and Co. sold: For 5 -C. Greer (Patearoa). 3 bullocks £l3 15s, 1 cow £lO 2s fid, 1 £3. 1 £lO 10s, 1 £8; executors late W r . Kirk (Mosgiel), 2 bullocks £l7 2* fid; J. C. Benton (Mosgiel). 5 £11; Walter Blackie (Mosgiel). 2 £l4; William Lindsay (Allanton), 1 _ £l3, 1 cow £7; J. A. M‘Donald (Tapanui), 1 bullock £9, 1 cow £8; A. I. Edgar ('Tapanui), 1 £ll 2s 6d; W 7. J. Rodger (Tapanui) 1 £9 I-Os 1 heifer £7; G. L. Copland (Clinton), 3 bullocks £l2 2s fid, 3 £ll 10s. 2 £9 15s.—— The Otago Farmers’ Co-operative Association sold: For C. W, Tlallum (W aikouaiti), 1 bullock £l6 2s fid, 1 £l3 2s fid. 1 heifer £l2 2s fid, 3 £ll, 1 £lO 12s fid ; Southland Farmers’ Co-operative. 2 bullocks £ls 2s fid, 2 heifers £ll, 1 £9 12s fid. 2 £9 10s, 1 bullock £9 ss; W. Kirk (Mosgiel), 1 £l2 17s fid, 1 £ll 15s; Walter Blackie (East Taieri), 2 £l2 10=; Lindsay (Allanton), 1 heifer £ll. 1 £lO os. 5 £8 15s, 1 £8 10s; Robert Wilson (Riverside), 1 heifer £lO lss; J. Hallum (WaikouaitT. 1 £lO 17s fid C. W. Ilallura TVaikouaiti), 3 heifers £11; W 7. M’Hattie (Allanton), 1 ■Heifer £9 ss. The National Mortgage and Agency Co. $old; For W illiam Lindsay (Allanton), 2 pollocks £l3 12s fid; R. F. Kirk (Mosgiel), 2 £l3 ss; client 1 £l2 15s, 2 £l2 12s fid. 2 £lO 12s fid. 1 £8 ss. 1 cow £9 12s fid ; John M’Leod (Nortnend), 1 £ll 12s fid, 1 £9 ss. Store Cattle.—A medium entry was forward consisting mostly of good-conditioned cows and mixed young cattle. There wa= a good demand for store bullocks. Values were: Best three and four-year bullocks, to £ll 3s; medium, £8 5s to £9; ISjnonUis to two-year steers, to £6-—New Zealand Loan and Mercantile Agency Company sold: For M. Goughian (North Taieri), 1 oow £3 16s, 1 veal.gr £3 ss. Stronach, Morris, and Co. sold: For Mrs H. M. Bovo (Stirling), 8 bullocks £lO 13s, 1 cow £7 14=, 1 heifer £7 7s fid, 1 cow £6 19s; clients, 6 bullocks £ll 2s, 9 £lO ss. 11 £9, 1 bull £7 10s, 11 bullocks £6 14s, 3 steers £5 15s, -2 £5 10s, 1 cow £4 16s, 1 £4 Bs, 1 £4, 1 calf 255; P. Collins (N.E. Valley), 1 cow £6 2=, 1 £5 16s , 1 heifer £4 18s; David ■Booth (Leith Valley), 3 cows £4; J. V\. "Gtiwham (Mosgiel) ,1 vealer £2 10s; 1. Johnson (Allanton), 1 vealor £1 15s.— — AVright, Stephenson, and Co. sold; ior James Simpson (Whenuakoa), 1 cow £9 os, ,2 £8 7s fid, 1 £B, 2 £7 12s fid; E. Walters Waiwera), 2 cows £8 10s, 1 bullock £6 12s fid, 2 vealers £3 ss, 2 £2 11s; J. Crawley (Lawrence), 1 heifer £7 17s fid, 1 steer £5 ISs, 3 heifers £5 3s, 1 cow £5 2s fid, I yearling £3 2s; J. W. Graham (Mosgiel), : F heifer £7 10s, 1 steer £5 15s, 1 heifer £5 6s; Mrs M. J. Hughes (Wyllies Crossing), XI cows and heifers £7 XOs, 3 vealers £2 ss, 5 £1 15s; client, 2 cows £7, 1 vealer £2; John Woods (Dunedin), 2 cows £6 10s, 2 £4 ss, 2 £4 2s fid; J. Lawson (Orepuki), 2 heifers £6 ICs, 1 cow £5 2s, 2 £5 17s, 8 yearlings £3 14s, 1 vealer £1 ICs; client, 1 bull £6 10s; Theo. Russell (North Taieri), 12 heifers £6 7s 6d, 3 yearlings £5 10s, 1 vealer £2 10s, I £1 18s; John Pryde (Mornington), 1 cow £6 7s 6d; H. F. Robinson (Clinton), 7 cows £5 18s, 1 £4 12s fid; J. Hall (Upper Junction), 2 cows £4 10s; Taieri client. 3 cows £4 10s; J. Jenson (East Taieri), 1 cow £4 ss; Mrs J. Johnson (Green Island Bush), 1 cow £4 2s fid; S. Pettit (Morningon), 1 cow £4 ss; E. Jensen (Dunedin), 2 cows £4 10s, 1 vealer £5 15s, 2 £2 9s, 1 £2 2s; James Waugh (Momona), 1 bull £4 12s fid, 1 heifer £3 9s; client, 2 cows £2 14s, 1 calf £l 2s.— — Donald Reid and Co. sold; For John Wilson (Lauder), 2 vealers £3 16s, 7 £2 16s, 10 £5 12s; client, 1 cow £1 7s; a Milton client, 1 cow £3 15s, 1 £5 7s fid, 1 vealer £2 12s, 1 £2 2s; Lindsay Robinson (Outram), 1 cow £5; Mrs M’Neil (Momona). X Cow £4 16s, 1 £6; W. Harvey (Mosgicl), 2 cows £6, 1 £5 15s, 1 £4 16s; client, 1 cow £6; W. M. Fairburn .(Port Chalmers), i veaiers £1 15s; Miss M. Stevens (Port Chalmers), 1 vealer £1 15s; Mr M. Uquart (Port Chalmers), 1 vealer £2 3s; Richard Lane (Sawyers’ Bay), 6 vealers £1; client, I cow £7 19s; J. Kearney (Leith Valloy) 1 cow £4 10s, 1 heifer £4 Bs. 1 bull £5 ss, I vealer £2. Dalgety and Co. sold: For W. J. Rodger (Conical Hills), 1 bullock £6 ss; Miss Davidson (Tapanui), 1 bullock £4 15s; J. A. M'Donald (Tapanui), 1 cow £5 7s fid; S. C. Greer (Patearoa), 1 cow £7 10s; J. Keown (Tomahawk), 1 bull £8 10s.- -The Otago Farmers’ Co-operative Association sold: For John Black (Mataura) 3 cows £9 ss, 4 £8 12s fid, 1 steer £9: J. Russell (“Lome.” Invercargill), 1 stc->-£9 15s, 4 cows £8 15s. 2 £7 15s, 1 £6 10s; T. F. I.andels (Mataura), 2 cows £8 17s SJ, g £7 2 £b ss, 2 steers £5. 1 £5, 4 rows £5 ss, 4 £4. 2 vealers £2 16s, 1 £2 ss. 4 £1 10s: P. Collins (N.E. Valley), 1 cow £8 ss, 1 £7 ICs, 2 £4 10s; M. Haggitt (Mottiona), 1 cow £5 ss, 1 hull £4; R. Brunton (Tomahawk), 1 cow £4 15s; A. J. Ings (Tomahawk), 1 cow £4 ss; Thomas Maxwell flDunedin), 1 cow £2 17? fid, 1 vealer £2 ss; George Brooks (Green Island). 1 cow £4 h fid; J. W. Graham (Mosgiel), 1 cow £4 10s, 1 £4 2s 6d; a Burnside client, 1 cow £3 ISs; R. Mathieson (Tomahawk). 1 bull £4; Robert Wilson (Riverside), 3 vealers £3 ss; William Lindsav (Allanton), 2. cows £7 12s, 2 £7, 1 £6 2s 6d, 1 £5 19s, 1 £4, 1 £3 15s. 1 bull £5 10s; T. H. Pugh (North Taieri), 1 cow £7 ss. 1 £7; lan Ro== (Fairview), 2 steers £7 4s, 1 cow £6 ss, 1 £4 6s, 1 £4 15s. 4 steers £4 15s; John Nicolson (One Tree Farm), 8 steers £7 14s B£7 9=, 3 cows £5 12s fid; a Milton client, 1 cow £8 2s, 1 £5 19s. 2 £5 10s, 1 heifer £2 19s, 1 cow £4 12s. 1 vealer £2 12s fid; Hope Bros. (Ncnthorn), 8 heifers £6 7s. 9 £4 9s, 5 steer? £4 17s, 1 cow £3 11s; J. Wood (Green Island Bush), 1 cow £7, 5 £6 10s, 2 £4, 3 £3 10s; John M’LenTuan (Wyndham), 6 cows £5 12s fid, 1 £4 ss, 2 £3 6s. 1 vealer £2 17s fid, 3 £2 15s, 2 £2 ss; Kedzlie Bros. (Halfway Bush). 1 bull £7 10s, 1 cow £5 Is, 1 £4 15s. 2 £4 ss; a Heriot client. 1 bull £7 12s fid; a Taieri client, X bull £B. Dairy Cows. —A small entry met a good sale for best close to profit sorts, but backward and low-conditioned cows wero neglected.—Wright, Stephenson and Co. sold: For Client, 1 cow £8 15s : A, Ingle (Brockville), 1 £7 10s; J. Gardiner (Burnside), 1 £7 12s fid; George Bennett (Brockvillo), 1 heifer £5 2s 6d, 1 £5. Donald Reid and Co. sold: For J, Gregg (Kuri Bushi* I£9 2 S fid. Dalgety and Co. sold:

LOCAL AND OVERSEAS MARKETS.

For J. A. M'Donahl iT.apanui), 1 cow £5 15s. The Otago Fanners’ Co-opera-tive Association sold: For T. Baird (Brighton). 1 cow £8 7$ fid; William Lindsay (Allanton), 2 £7 10s, 4 £7; A. J. logs (Tomahawk), 1 heifer £7 ; A. Murray (Shicl Hill), 1 row £6; George Wroble (Allanton), 2 hcifer s £S 17s 6d. Fat Sheep.—Over 1900 were yarded, the bulk consisting of good neavy ewes. The entry of prime wethers was not as large as at recent markets, i’ho demand generally was slack, and value s thowed a further decline of fully 2s for wother s and up to 3$ lor ewes. Values were--trirne heavy wethers, 35s to 37s 6d; prime, 32s to 345; medium. 28s to Sis; lighter 25s to 28s, extra prime ewes, to 30s 0d ; prune, 25s to 275; medium, 20s to 245; lighter, 16s to 18s. —The New Zealand Bonn and Mercantile Agency Co. sold: For Charles Taylor (Milburn), 4 wethers 32s 3a, 10 owes 17s 6d ; J. E. Cullen (Clarendon;, 3 wethers 80s: William Mackintosh ißrydone), 19 wethers 29s 9d. 17 275, 24 36s 6d; William Marshall (Berwick), 23 25s bd, 25 24s , J. E. Cullen (Clarendon), 6 ewes 24s bd; A. P. Gibson (North Talon), ;2 ewes 13> ■9d ; J. S. Blackic (Mosgicl), 3 owes 18s 9d, 12 15s 6d. Stronach, Morris and Co. sold: For R. J. Thompson (Middlemarch), 2 wothers 235; M. Johnstone (Sutton) 1 26s 9d. 15 25 s 9d. 9 22s od. 4 owes 15s; A. iscott (Burnside), 7 24s 9d, 8 wothers 245, 6 ewes 17s 6d, 4 12s 9d; S. Townlcy (Sutton), 11 14s 6d. Wright, Stephenson and Co. s old: For W. E. Hunt (Wallacetown), 17 wethers 28s. 19 325, 18 30s 6d ; G. W. Stuart (Tapanui), 15 36s 9d, 16 3bs, 16 345. 15 335; Murray Bros. (Clydevale), 20 365, 19 335, 13 31s 3d, 14 3'og 6d; Thomas Johnson (WangaToa), 231 s6d 16 295, 3 ewes 24s 3d, 5 18 s 6d; D. M’Donald (Dipton), 20 wethers 31s, 21 30 s 9d, 14 28s; J. H. Thomson (Centre Bush), 14 325, 18 28s 3d. 14 owes 275. 8 23s 9d; Reid and Jonc s (Waiwera South), pen vethers 295, John Ninimo (Mosgiel), 9 2?a 6d; F. A, Price (Waikiwi), 14 ewes 25s 9d, 16 255, 9 21s 9d, 14 20s 3d. Donald Reid and Co., Ltd., sold: For J. E. A 7 arson and Jo. (as agents), 1 wether 33g 3d, 17 ewes 235, 21 225, 18 245, 10 wethers 255,- 10 30s 9d, 6 owes 18s 9d, 20 15s; ihonuu Lochhead (Te Houka), 18 wother s 32s 3d, 17 295; Thomas Landols (Mataura). -8 ewes 30s 3d, 1 wether 30$ 3d. 18 owes 24s 9d to 21s, 14 18s 6d; a client, 12 we f lier g 28s 9d, 21 owes 225, 24 17s 6d, 22 ifis, 10 2'2s 6d. 13 wothers 255; John Hocigsm (Sawyers’ Bay), 1 28s; 11. Playfair (Thornbury), 17 30s, 21 26s 3d. 14 25s 3d, 13 23s bd ; J. 11. Paul (Milburn). 5 wethers 26 s 3d, 2 ewes 15$ 6d; Crawford Alexander (Glenore), 1 wether 255, 1 235, 1 ewe 15s 3d; executors late J. Strain (Milburn). 3 wethers 25s 9d, 6 ewes 17s; Mrs M. J. Harvey (Moncymorc), 12 wethers 23s 3d; Raid Bros. (Milburn), 1 ewe 23s ; Archibald Stewart (Lovell’s Flat), I 255, 22 14s, 23 18s; George Westwood. (Brighton), 11 235: Peter Williamson (Milburn), 2 2'os 3d , Robert Hamilton (Wyllie’s Crossing), 8 17s 3d; It. Stoddart (Outrarn), 13 16s. 11 15s; Alexander Campbell Milton), 4 l§s, Arthur Twaddle (Balclutha;, 12 10$ 6d. Dalgety and Co. s old: For Thomas M’Math (Riversdale), 15 wethers 555, 15 31s 6d, 13 295, 10 28s 9d ; M Donald Bros. (HerJ?i) 12 ewes 26s 6d, 9 19s 6d; R. G. Patrick (Waikoikoi), 5 24$ 3d, 15 21s; Charles Topham (Miller’s Flat), 11 15s, 5 18s; James Todd (Heriot), 8 wethcr s 30s_6d ; Scott and Son (Burnside), 230 s : P. M illiamson (A.lilburn), 1 28s od; E. Ottrcy (Heriot), 1 2cs Sd, 1 ewe 275; R. G. Patrick (Waikoikoi), 14 ewes at current rates; 11. Eliott (Tomahawk). 218 s 3d.- —The Farmers Co-eporative Association sold: For A. G. MTntvre tXhc Downs), 18 wethers 34s 9d, 15 32s 6d. 15 31s 3d; John Howie (Moneymore), 250 s 3d; H. Sutherland (Clarksville), 20 26s 6d; client. 4 ewes 17s 3d, 6 13s * Central Client, 17 wethers 50s fid, 13 30s 23 29s 3d, 7 265. The National Mortgage and Agency Co. sold: I'or James W. Fox (Te Pekal, 22 wethers 37s 6d, 2o 34s 16 335; Walter Clark (Woodlands), 2o 37s 6d ’6 33s 9d, 12 30s ; John Barclay and Son, 16 37s fid, 21 31s 6d; Smadl Bros. (Moa Flat), 50 33s 6d 53 50$ 9d, 58 oOs 9d, 20 30s 14 29s 3d; D. M'Kenzie (Waiwera South)’, 6 ewes 30s 9d, 12 26$ 3d 5 235; George Smith (Waiwera South), 17 wethcis 30s 9d. . . Calves.—Stronach, Morns, and Co. sold; For A. Laughton (Mosgiel). 1 calf 12s; E. R. Hall (N.E. Valley). 1 8s. —-Wright. Stephcnson, and Co. sold: Lor_J(Henley), 1 calf £1 10s 1 £1 ,s > Ji - M’Auley (Berwick) 1 £1 15s, 1 £1 is; H. F. Brown (Green Island), 2 £1 ss, 1 19s, G. Bennett (Brockville), 1 8s; a client, 1 ss. Donald Reid and Co. sold: For J. Hall (Green Island), 1 calf 2is; =- " • Lindlcv (Kaikorai). 1 28s; John Campbell (Allanton), 1 6s: T Ryder (Henlev), 1 10s; I. Stcnhouso (Halfway Bush), 1 KB; H. Flett Jadth Valley), 1 20s 1 3s; K. Johnstone (Waikura), 1 oOs, 1 30?, 1 W. Denton (Glenesk), 1 255, 1 255. 1 10s. Otago Farmers’ Co-operative Association sold: For W. Perry (Warrington), 1 calf 30s. 1 225, 220 s, 1 17s; W ■ HRains (Lawrence), 1 calf 28s 1 2os 1 20s, 215 - C. Watson (Burnside), 1 calt 255; J. Matheson (Tomahawk), 1 calf 225, 1 16s, 1 12s. 1 10s; a client, 1 calf 15s; J. Woods (Dunedin), 1 calf 15s; G. C. Hunter (Brighton), 1 calf 14s, 1 12s; J. V. Thomson (Abbotsford), 1 calf I2s, 1 i ss; a client, 1 calf 10s, 1 4s. Fat Lambs.—There was a fair entry but the ciualitv was mixed, a number of light and unfinished lambs being forward. For prime lambs the demand was keen, exporters operating to full schedule *ates. Values were: —Extra prime heavy lambs to 34s • prime, 30s to 32s 6d; prime light, 26$ ’to 28s; medium, 24s to 25s fid; unfinished, 18s to 225. New Zealand Loan and Mercantile Agency Co. sold: For a client, 1 lamb 345. 3 325, 4 31s, 5 27s 3d, 228 s, 5 24s 9d. 3 21s 6d; Alexander Campbell (Milton), 4 lambs 30s, 227 a 3d.—— Wright, Stephenson, and Co. sold: For \V. D Wright (North Taicri), 4 lambs 30s 9d; F.‘ A. Price (Waikiwi) 1 30s 3d; D. Johnston (Wyndham), 3 29s 9d; Thomas Johnson (Wangaloa). 25 28s. 10 24s fid; Gordon M‘Master (Saddle Hill). 7 26s 9d, 8 245; Mrs M J. Hughes (Wylie’s Crossing), I 235; Central Otago client, 123 rape lambs 19 S 4J, -Donald Reid and Co., Ltd. sold: For Raitt Bros. (Milburn), 1 lamb 345; George Westwood (Brighton), 4 33s 9d; a client, 10 52s 6d. 1 295, 4 28s, 4 265; 1 etei Williamson (Milburn), 4 295; R. F. Sim (as agent for E. Ottrey). 16 28s 6d; J. E. Watson and Co. (as agents), 12 27s 9c., 9 21s 6d; Crawford Alexander (Glenoro), V 27s 6d; John Hodgson (Sawyers’ Bay) 29 26s 9d, 15 255; Robert Hamilton (Wylies Crossing), 21 25s 9d. 26 245. 25 235; Exors late J "'Strain (Milburn), 6 25s 3d; Alex. Camiibe.ll (Milton). 3 24s 6d. Dalgety and Co. sold: For John Irane (Mosgiel), 5 lambs 545; E. Ottrey-(Heriot), 7 30s 6d, 9 29s 6d; Charles Topham (Millers Flat), 8 29s 6d. 15 30s 3d. 21 27s 6d; W’. D. Wright (North Taieri). 4 30s 9(1; P. WilHauison (Milburn). 4 2Ss 6d; a client. 2 29 S 6d. The Otago Farmers’ Co-opera-tivo Association sold : For C. Miller (North Taieri), non lambs 525; a client, pen 31s 3d 11 295, 9 27s 6d; James Lowery (Milton), 6 50s 9d; F, Doherty, pin. (Ontrani), 6 30=; F. Jones (Brighton), pen lambs 30s; A We=t (Brighton) 5 295: H. Sutherland (Clarksville), 7 2S.s; P. Williamson (Milburn), 4 28s; John Howie (Moneymore). 10 275; a client, 17 265. 86 225, 49 17s. The National Mori gage and Agency Co. sold; For Tavles Bros. (Balfour). 17 lambs 335, 32 50s 6d. 13 26s 3d; a client, pen lambs 27s.——Stronach, Morris, and Co. sold : For R. P. Thompson (Middlemarch). 4 lambs 33s 6 295: R. M. Johnstone (Sullen , 1 31= 6d. 1 29s Dd; S. Townlcy (Sutton). 12 27s 9d ; A. Scott (Burnside). 4 27s 9d. 6 23s 3d; Wallace Bruce (Momona), 4 26s 9rl.

Fat Pigs.—A small entry met a better sale than last week, and values were firmer by 5s per head. The New Zealand Loan and Mercantile Agency Company sold: For Alexander Cameron (Outrarnl, 1 pip £2 16s, 5 £2 14s. Stronneh, _Morris, and Co. sold; hor 1L I‘.. ijsdall (Middlemarch), 1 pig £3 15s, 2 £3; L. F. Allen (Npapnna), 1 £3 os. .5 £3 4s: H. Tisdall (Middlemarch), 1 £3 7s. 2 £3 6s; P. M'Fadyen (Ngapuna). I £3; L. Brough (Middlemarch), 2 £2 17s, 2 £2 14s, 1 £2 ss; W. Hastie, jun. (Pine Hill), 4 £2 14s; W. J. Keast (Middlemarch). 1 £2 8s: F. T. Williams (North-East Valley), 4 £2 8s: E. R. Hall (North-East Valley)’, 1 £2 3s; A. M. Mathieson (Fairfield), 3 £1 18s. Wright, Stephenson, and Co. sold: For W. White (Seaclifl), 3 pigs 3 ISs; James Sprott (Otokia), 1 £3 16s, 1 £3 14s; Bowen Bros. (Concord), 1 £3, 1 £2 17s, 2 £2 15s: C. Brenssell (Outrarn), 4 £2 10s; George Middleditch (Port Chalmers). 2 £2 9s. 1 £2; D. J. Cullen (East Taieri), 1 £2 9s; George Bennett (Brockville), 1 £2 ss, 1 £1 10s: J P. Gardiner (Burnside ). 2 £3 4s. • Donald Reid and Co. sold: For John Fry (Brighton), 1 pig 555, 2 525; Fred Driver (Mihiwaka), 240 s. Dalgety and Co. sold; For R. R. Oliver (East Taieri), 1 pig £2 10s; A. Maxwell (Balclutha), 1

£3 10s, 6 £3 4s, 2 £3 7s, 1 £3 Is. —y-The Otago Farmers’ Co-operative Association sold: For Bowen Bros (Burnside), 1 pig £3 10s, 2 £3 4s, 1 £3, 1 £2 19s, 1 £2 15s; W. A. Hastie (Pine Hill), 6 £3 7s, 4 £3 6s; J. Gamble (Mosgiel), 1 £2 19s, X £2 15s; James Sinclair (Adame Flat), 2 £2 19s; J. O’Connor (Mount Stuart), 1 £2 15s; D. M‘Kay (Mosgiel), 2 £2 15s; A. S. Cullen (East Taieri), 1 £2 10s, 1 £2 3s: A. E. Baredell (Anderson’s Bay), 1 £2 10s, 1 £2 ss; A. Kennedy (Fairfield), 1 £2 11s, .1 £2: A. Moynihan (Momona), 1 £2 Bs, 2 £2 3s; P. O'Connor (Mount Stuart), 3 £2 Is; C. Watson (Burnside), 1 £2. Store Pigs.-—Stronach. Morris, and Co. sold: For E, R. Hall (North-East Valley), 2 pigs 30s, 1 12s 6d; H. Hodges (Mount Cargill), 1 pig 22s 6d, 1 2Xs 6d; A. Moynihan, jun. (Momona), 1 pig 225; 7 to 17s . Wright, Stephenson, and Co. sold: For J. Kuft (Momona), 2 pigs 17s, 214 s. 1 14s 6d, 1 12s 6d; F. Johnson (Momona) 6 16s. Donald Reid and Co. sold: For P. Hodges (Pine Hill), 2 pigs 17s; a client (Dunedin), 7 19s; P. Walker (Palmerston), 219 s, 217 a 6d, 215 s; W. Baird (Momona), 1 40s; M. Hackett (Momona), 3 245, 3 17s 6d. The Otago Farmers’ Co-operative Association sold: For E. Edmonds (Leith Valley), 1 pig 275. 4 10s. CHEAP MEAT. We sell only prime ox beef, wetaer mutton, prime lamb, dairy-fed pork; for quality the cheapest shops in tc. n. We specialise in orders from country esidents. —Salisbury Butchery Shops, Stuart street, George street, and Princes street. — Advt. ADDINGTON MARKET. (Pek United Press Association.) CHRISTCHURCH, January 25. There were heavy entries to-day in practically all classes except fat sheep. Store Sheep.—The biggest entry of store lambs this season was forward. Competition was much more restrained, and the best lambs were down by 2s a head, and others by 2s 6d. Prices previously had been beyond the parity of fat lambs, in addition to which the weather has set in very warm. Good adult sheep sold brightly, but low-conditioned, both ewes and wethers, were not wanted. Good mixed-sex lambs made 23s to ,24s 8d; forward rape lambs, 21s 6d to 22s 9d; medium rape lambs, 18s 6d to 21s; backward sorts, 14s 7d to 18s; good four, six, and eight-tooth halfbred ewes, 27s 9d to 30s lid; medium four, six, and eighttooth ewes, 22s 3d to 25s lid; extra good two-tooth halfbred ewes, to 32 s lOd; inferior aged ewes, 13s to 16s; cull ewes, 5s 9d to 11s lOd; forward four, six, and eight-tooth wethers to 23s 7d; medium four, six, and eight-tooth wethers, 18s 6d to 21s lid - two-tooth wethers, 23s 6d; low-conditioned wethers, 14s 3d. Fat Lambs.-—About 3200 were yarded. There was a keen sale at full export prices. Extra prime realised to 34s Id; prime. 2Ss 6d to 325; medium, 26s 6d to 28s; light, 23s to 265. Fat Sheep,—There was a smaller entry of 11 races, mostly owes, with very few prime wethers. For the latter the market about held, but big ewes were clown by Is to is 6d a head, and light wethers by Is. Exporters bought lighter sheep. Extra prime wethers made to 34s 4d; prime wethers, to 34s 4d; prime wethers, 30s to 325; medium wethers, 26s 6d to 295; light wethers, 23s 6d to 265; extra prime ewes, to 29s 7d; prime ewes, 23s 6d to 26s 6d; medium ewes, 18s to 235; light ewes. 13s 9d to 17f=. Fat Cattle.—A heavy entry of 520 head was forward —too many for a midsummer sale. The advance recorded last week was lost. Best light prime beef made 37s 6d to 40s, and in eases to 42s per 1001 b; medium, 34s to 365: heavy. 32s tc 355; medium cow beef, 29s to 325; and rough down to 255. Extra heavy steers made to £lB 17s 6cl; prime heavy steers, £ls 15a to £l7 ss; medium weight prime steers, £l3 to £ls 10s; light steers, £lO to £l2 10s; extra prime heifers, to £l4 7s 6d; prime heifers £ll 5s to £l3; medium heifers, £9 to £11; light heifers, £6 to £8 10s; extra prime cows, to £l4 2s 6d; prime cows, £lO 5s to £l2 ss; medium cows, £7 10s to £10; aged and light cows, £5 7s 6d to £7 ss. Vealers.—There were lower prices all round, the most marked being for inferior stuff. Twelve to 18 months’ sorts realised to £6 15s; good vealers, £4 to £5 ss; others, 30s to £3 10s; calves, 4s to 10s.

Store Cattle. —A largo entry was forward, and a good sale resulted for any decently forward stuff with good colours. Three and four-ycar-old steers brought £9 to £lO 2s 6d; two years, to £6 11s; yearling heifers, £3 to £4 ss; cows, £2 5s to £5 10s; bulls, £3 10s to £8 10s. Dairy Cattle.—The best second to fourth calvers made £8 to £ll 10s; medium, £6 10s to £7 15s; others, £4 to £6; heifers, £7 to £lO 10s; others £4 to £6 10s. Fat Pigs.—There was a smaller representation of porkers and a bigger one of baconers than last week. There was again a number of over-weight baconers that were practically unsaleable, making no more than 34 a lb. There was no buying for export, prices being a shade on the light side. Choppers realised £2 to £4 13s 6d; baconers, 47s 6d to 52s 6d; heavy baconers, 55s to £3 4s 6d; average price per lb, 4d to Sid. Porkers made 32s 6d to 37s 6d; heaVy porkers, 40s to 455. Average per lb, 5Jd to 7d. Store Pigs.-—There was good competition for the entry, which comprised for the most part large stores and slips. Wcaners made 10s to 15s; extra good, to 18s; stores, 18s to 23s 6d; good stores, 25s to 29s 6d; extra good, 32s to 36s 6d. WALLACETOWN STOCK SALE. {From Our Own Correspondent.) INVERCARGILL, January 25. Close on 2400 fat lambs were varded at the usual fortnightly stock sale at Wnllacctown, the best sale of the season resulting in this section. Freezing buyers were particularly active and prices increased considerably on those of the last sale. Store sheep dragged to a certain extent, but store cattle sold well. Values in fat sneep were down 3s per head for wethers.

Fat Sheep.—There was a largo yarding of both fat wethers and ewes. Fat sheep dropped 3s to 4s on the prices of the previous sale for wethers, hut this was not so noticeable where ewes were concerned. There was nothing outstanding in the quality of the wethers forward, the top price for a pen of good butchers’ sorts being 33s 9d. Good medium-weight wethers made from 30s to 32s 6d and lighter sorb down to 27. s 6d. Some very nice pens of fat ewes were forward, and met with better cornpoltiion. Best heavy-weights made to 20s; good medium sorts, from 20s to 24s 6d; while light cr and poorer conditioned sorts made only to 14s.

Fat Lambs.—Another hcaw yarding, the quality generally being much above the average. Keen competition was experienced, most of the freezing buyers operating. and a good sale resulted. Heavy butchers’ lambs made up to 31s fid, best freezing iambs 28s fid to 30s fid, medium sorts from 2fis fid to 27s fid, and lighter sorts down to 255, Store Sheep.--Shorn ewes and lambs sold at about 16s 3d, with best quality lambs up to 21. A few mixed sex lambs sold at 19s fid; old ewes sold up to 12s. Store Cattle. —A good yarding, consisting iu the main of well bred sorts. The bum of the yarding sold at auction and prices were, quite on a par with recent sales. Sales may be quoted as follows: —Good forward, well-conditioned three and four-yea rol,l bullocks. Up lo £lO 15s; well bred two to two and a-balf year olds in good condition, to £7 12s fid; yearling steers, to £4 17s fid; with smaller and poorer conditioned lots down to £3 13s, Good forward omprv hoifevs sold to £6 4s, with medium sorts'from £4 10s to £5 10s. and yearling heifers from £2 15s to £3 Is. There was only a small entry of dairy cows of poor quality. These sold from £3 10? to £5 l(k Fat Cattle. --There was a heavy yarding of all classes of fat cattle. Hie quality being quite up lo the .standard of recent sales. However, there was a. drop of about 30s per bead on the previous sale, and passings were very frequent. Prices may be quoted as under:—Prime oxen, from £l2 10s to £l4; medium sorts. £ll lo £l2; prime heifers, from £9 to £lO ss; medium b'Ovf..', from £7 10? io £8 15s; lighter sorts, down to £6 5s and £7. Prime heavy cows sold from £3 15s to £9 10s, with lighter sorts from £6 10s to £B. Voalers.—Thfcro was a good yarding of good-quality vealers, prices being quoted as follows;—Runners. £3 10s to £4; good vealers, £2 to £2 12s fid.

SOUTH AUSTRALIAN LOAN. (I’rese Association—Bv Telegraph—Copyright.) LONDON, January 24. It is understood that the underwriting of a South Australian £2,500,000 loan at 08 is imminent.

THE SHARE MARKET.

DUNEDIN STOCK EXCHANGE. Business in the contributing issue of New Zealand Rofrigera tings at 8s 7d was reported on the Stock Exchange yesterday. Buyers afterwards made inquiry at 8s fed, but sellers wanted a penny more than the market price. Paidup Refrigerating® had a buyer at 17s 9d, but no seller below 18s 3d. Dalgety’s were in firmer demand, a buyer offering £l3 14s. For Mosgiel Woollens an offer of £6 14s was made, but sellers would not accept less than £6 17s fed. Ka warn us had a buyer at 5d and a seller at 7d. Sale reported; Now Zealand Refrigerating (cont.), 8s 7d. The following are yesterday afternoon’s buying and sellme- quotations, which are subject to the usual brokerage: BANKING. Bank of N.S. Wales—Buy £47 10s, Bank of Now Zealand—Sel 59s 6d. Bank of New Zealand (D issue) —Buy 265. Commercial Bank —Buy 29s Id, sel 29s sd. E.S. and A. Bank—Buy £7 12s fed. National Bank of New Zealand—Buy £6 16s. National Bank of Australasia—Buy £l7 3s. National Bank of Australasia (cont.) — Buy £8 10s. Union Bank —Buy £l4 12s 6d. BREWERIES. N.Z. Breweries Debs.—Buy 22s 3d. Staple’s Breweries —Buy 39s 3d, sel 40s. Hard and Co. —Sol 38s. INSURANCE. N.Z. Insurance Co. —Sel 41s 9d. South British Insurance Co.—Sel 57s 9d. Standard Insurance Co.—Buy 625. SHIPPING. Burns Philp—Buy 395. Huddart, Parker (ord.) —Buy 495. Huddart, Parker (pref.)—Buy 20s 9d. P. and 0. Deferred Stock (rights).—Buy £23 prem. U.S.S. Co. (pref.)—Buy 20s. COAL. Westport Coal Co.—Buy 31s 9d, sel 325. Westport-Stockton (pref.)-y-Sel 3s 6d. Kaiiangata—Sel 2s 6d disc. LOAN AND AGENCY. Dalgety and Co.—Buy £l3 14s. Goldsbrough, Mort—Buy 475, sel 48s. National Mortgage —Buy 725. N.Z. Loan and M. (ord.) —Buy £92 10s. Perpetual Trustees—Buy 61s. MEAT PRESERVING. Canterbury Meat (ord.) —Buy £8 2s 6d, N.Z. Refrigerating (pd.)—Buy 17s 9d, sel 18s 3d. N.Z. Refrigreating (cont.) —Buy 5s 6d, sel 8s Bd. Southland Frozen Meat (ord.) —Buy 31s. MISCELLANEOUS. British Tobacco—Buy 39s 6d, sel 40s. Bruce Woollen Co.—Buy 11s. D.I.C. (pref.)—Buy 20s 6d. Dominion Investments —Buy 225. Dominion Rubber —Sel 475. Donaghy’s Rope and Twine —Buy 33s 9d. Dunodin-Kaikorai Trams —Buy 33s 9d. Eclipse Petrol—Sel 10s 3d. Milburn Lime and Cement—Buy 325. Mosgiel Woollen Co.—Buy £6 14s, sel £6 17s 6d. M'Leod Bros.—Buy £2B. National Electric—Sel 12s. N.Z. Drug 00. (£2 pd.)—Sel 69s 6d. N.Z. Express (ord.) —Buy 20s 9d, N.Z. Milk Products (bonds) —Buy 225. N.Z. Paper Mills (ord.) —Sel 17s 3d. N.Z. Sugar of Milk— Sel 21b. Otago Daily Times —Buy 71s. MINING. Kawarau G. M. Co. —Buy sd, sel 7d. Electrolytic Zinc (pref.)—Buy 32s 3d. Electrolytic Zinc (ord.) —Buy 31s. Mount Lyell—Buy 28s 9d. sel 29s 6d. Mount Isa—Sel 28s. Molyneux Electric —Buy 6s. Upper Nevis—Buy 25s 3d, sel 255. Big Beach —Buy 14a, sel 18s. WAR BONDS. 4i per cent. Bonds, 1930—Buy £97 10s, 4i per cent. Bonds, 1938 —Buy £96 15s. 41 per cent. Bonds. 1939 —Buy £96 15s. per cent. Inscribed, 1958—Buy £96 15s. 4i per cent. Inscribed, 5j per cent. Soldiers’ Inscribed, 1933—5 el £lOl ss. NORTHERN EXCHANGES. (Pns United Pehos Association.) The following business was done on ’Changes yesterday: — Auckland.—Sales: Auckland Harbour Board, 1941. 6 per cent., £103; Commercial Bank of Australia, 295; National Bartk of Australasia, £l7 4k' 6r; National Bank of Australasia (cont.), £8 11s; Bank of New South Wales, £4B; Bank of New Zealand, 59s 3d, 595: New Zealand Insurance, 41s; Auckland Gas, 23s 3d; Auckland Gas (cont.), 17s; Wellington Gas, 28e; J. Staples and Co., 40s 6d; AVaihi, Us 3d; Mount Lyell, 295, Wellington.—Sales reported: 4J per cent, stock (1938), £97; Commercial Bank (cum rights), 29s 6d; National Bank of New Zealand, £6 17s fid; National Bank of Australasia (£lO paid), £l7 5s 6d. Christchurch.—Sales: Commercial Bank of Australia, 29s 3d; Staples’s Brewery, 40s 3d; National Bank of Australasia (£5 paid), £8 10s 6d (two parcels). Sales reported: Commercial Bank of Australia, 29s sd, 29s 3d; National Insurance, 25s 3d; National Bank of Australasia (£5 paid). £8 10s 3d (two parcels); British Tobacco, 39s 9d; Waihi, 11s 3d (two parcels).

DAIRY PRODUCE. LONDON AND CANADIAN MARKETS. (Special to Dails Times.) WELLINGTON, January 25. The New Zealand Dairy Produce Board has received the following market report from its London office, dated January 22 (last week’s prices being given in parentheses) : Butter; New Zealand, salted, 151 s to 154 s (154 s to 158 s); unsalted, 156 s to 160 s (158 s to 1625); market quiet, but fair sales at the lower prices. Deliveries: New Zealand, last week, 1840 tons; in store, 3560 tons. Australian, finest salted, 148 s to 152 s (152 s to 1545); unsalted, 150 s to 154 s (154 s to 158 s). Argentine, unsalted, 144 s to 148 s, exceptional 150 s (148 sto 1545). Danish, 172 sto 174 s spot, 165 s f.o.b. (1745, 1765, to 158 s). Dutch creamery, unsalted, 134 s to 186 s (186 s to 188 s). Retail prices are unchanged. Cheese: New Zealand white and coloured, 90s to 91s (90s to 91s) ; exceptional white, 925. Canadian, finest white, 100 s to 104 s (100 s to 104 s); coloured, 98s to 102 s (100 s to 102 s). Australian, finest coloured, 86s to 90s (not quoted). The market is quiet. English, finest farmers', 126 sto 130 s (126 sto 130 s). Retail prices are unchanged. The board has also received the following advice from its agents in Canada:— Butter: San Francisco, extras, 46 cents (Is lid); Vancouver market, New Zealand finest, 37i cents (Is 6Jd); Australian first, 364 cents (Is 6Jd).

LONDON WOOL SALES. (Press Association—By Telegraph—Copyright.) LONDON, January 24. .At the wool sales 10,366 bales were sold, of which 6809 were Australian and 1042 New Zealand. There was a large offering of merinos suitable for all sections, which met with good general competition at full rates. There was an average selection of crossbreds, and prices were firm. New Zealand; “ Panfkau,” 22Ad and 20d; “ Hauini,” 26d and 23d; “ Waiau,” 224 d and 20d.—A. and N.Z. Cable.

LOOKING AHEAD!

The owner of an estate who looks ahead and runs no risks with the uncertainties of life and the fallibility of the staunchest friends appoints “ The Trustees, Executors ” to be executors of his will. By appointing “ The Trustees, Executors,” the risk of death, sickness, absence, or indifference of the private trustee is eliminated, and the testator is assured of continuous administration by specialists in trustee business. It gives one a feeling of comfort to know that, come what may, one’s estate will be in the care of capable and reliable hands, and the beneficiaries or dependents will be protected from unreliable trustees. Before making your will consult The Trustees, Executors, and Agency Comopany of New Zealand (Limited), corner Bond and Waix-r streets, Dunedin. Full information gladly supplied.—Advt.

DUNEDIN STARR-BOWKETT SOCIETY.

A meeting of shareholders in the Dunedin Starr-Bowkett Building Society was held in the Oddfellows’ Hall, Stuart street last evening. Mr T. J. Walker occupied the chair, and a number of shareholders were present. The 193rd appropriation of £SOO was offered by sale. There being no buyers, the amount was balloted for, and cluster No. 328 was drawn, held by one shareholder. The 89th appropriation of £SOO was offered by sale, and realised a premium of £lB per cent. The 51st appropriation of £SOO in the No. 5 group was disposed of by ballot, cluster No. 100 being drawn, held by one shareholder. The 20th appropriation of £SOO in the No. 6 group was offered by sale, and realised £4O per cent. SUBDIVISION LAND SALE. Messrs John Reid and Sons submitted to auction yesterday the allotments comprising the Cintra subdivision at Anderson’s Bay. There was a good attendance of the public, and all the allotments were sold as follows;—Lot 1, £700; lot 2, £700; lot 3. £435; lot 5, £390; lot 6, £160; lot 7. £160; lot 8, £l4O. Two allotments in Sunbury street, Anderson’s Bay, did not reach the reserve, and will be sold privately. SYDNEY WOOL SALES. (Press Association—By Telegraph—Copyright.; SYDNEY, January 24. At the wool sales there _waa very keen competition for all descriptions of merinos at full late rates. Comebacks to crossbreds were in keen request at prices in sellers’ favour. Greasy merino sold to 32Jd. MANUFACTURE OF NITRATES. A strong company has been formed for the manufacture of nitrates (says the Western Star). The plant will be erected about ono mile south of the CHfden bridge on the Waiau. An application was received by the Wallace County Council on Friday for the right of erecting a dam and water course on the Waiau River. The application was granted. M‘NAB STOCK SALE. (From Our Own Correspondent.) GORE, January 25. The fortnightly stock sale was held at M‘Nab on Tuesday in dull weather and before a meagre attendance of farmers. Fat Sheep.—Only a small offering of 20 was forward. Fat wethers made 27s fed, and fat ewes up to 16s 3d. Stove Sheep.—A small entry of 150 was on offer. Ewes and lambs made 15s, and guaranteed sound-mouth ewes 27s fed. Fat Cattle.—The small offering of six head was all passed in. Store Cattle.—ln the store pons there was only five head penned. Empty cows realised'up to £4 17s fed and bulls £4.

NEW ZEALAND BUTTER. (Tret s -st Delation— By Telegraph—Copyright.) OTTAWA. January 24. Canada imported 4,500,000 dollars’ wortn of milk and products in 1927. In the month of December alone she imported 1 500,0001 b of New Zealand butter, valued at 500,000d0l and 28,0001 b of Australian butter, valued at 11.507d0l. —A. and N.Z. Cable. THE WHEAT MARKET. EFFORT TO MAINTAIN PRICES.

(Peb United Peess Association.* CHRISTCHURCH, January 25. The Wheat Committee of Canterbury, representing the growers, issued a statement to-day urging the farmers to refrain from accepting prices below the market rates for wheat. The committee argues that under a sliding scale of duties the price of wheat should not alter, and only larger offerings than the market can absorb will reduce the price. The committee urges growers not to press sales at present, as selling pressure will weaken prices.

CHICAGO WHEAT QUOTATIONS. (Press Association—By Telegraph—Copyright.) NEW YORK, January 24. Chicago wheat: March, 130 J cents per bushel; May, 130 J; July, 127.—A. and N.Z. Cable. NEW AMERICAN LOAN. (Press Association—By Telegraph—Copyright.) NEW YORK, January 24. (Received Jan. 25, at 10 p.m.) The financial editor of the New York Times says that a new loan of from 40,000,000 to 50,000,000 dollars is reported to-day to be under negotiation in Wall street. The money is chiefly for refunding purposes. —A. and N.Z. Cable.

AUSTRALIAN MARKETS. (Press Association—By Telegrr.ph—Copyright.) SYDNEY, January 25. (.Received Jan. 25, at 10.25 p.m.) Wheat: At country stations, 4s 9d to 4s 9§d; on trucks, Sydney, 6s 4Jd to 5s sd. Flour: The export trade is lifeless. Local, £l3 ss. Bran, £7 10s. Pollard, £7 10s. Oats: Tasmanian Algerian, 5s 3d; white, 4s 9d. Maize, 4s. Potatoes; Tasmanian new, £4 10s to £B. Onions: Victorian, £ll. ADELAIDE, January 25. Wheat: Growers’ lots, 5s 2d to 5s 3d. Flour: Bakers’ lots, £l3 10s. Bran, £6 10s. Pollard, £7 2s 6d. Oats, 3s 7d to 3s 9d.

THE P. AND 0. COMPANY. In the Peninsular- and Oriental Steam Navigation Company’s report and balance sheet for the year ended September 30, 1927, the board states that the company carries the risk on its own vessels, with the exception that recently, in view of the great cost of steamers, the large vessels were covered against total loss in the outside market for any amount more than £500,000. No serious losses had occurred during the year to entail withdrawals from the insurance fund, which amounts to £3,282,428, The board also states that the steamer Nyanza had been sold at a price in excess of its book value, and the difference would be passed to the credit of the depreciation account for the remainder of the fleet. The board has contracted for the construction of a steamer of 19,000 tons, to be fitted with turbo-clectric-driven engines, which, it is considered, will show greater economy than other types of machinery of similar power. Among assets, steamers, etc., are embraced in one item, and stand in the balance sheet at £17,665,697, or £370,141 less than a year ago.