COMMERCE AND FINANCE

Otago Daily Times, Issue 20962, 27 February 1930, Page 18

COMMERCE AND FINANCE

THE SHARE MARKET.

DUNEDIN STOCK EXCHANGE.

Three sales were reported on the Dunedin Stock Exchange yesterday: A parcel of National Insurances changed hands at 14b 6d. : They were later on offer at 14s Bd, but buyers failed to quote. Business was done in Big Beaches kt ss. Buyers later offered 4g 3d without attracting a seller at less than- 5s 6d, A sale of Commercial Banks was reported at 23s fid., and they were later op offer at the same figure, but buyers would not then give more than 22s- There was a fair de- ' mand in'tho other sections, i - Bales reported: National Insurance, 14s > fid; Big Beach, ss; Commercial Bank, 22s ’ fidThe following are yesterday afternoon’s Buying and selling quotations, which are subject to the usual brokerage:,— BANKING. Bank of Australasia—Buy £ll 18s, sel £l2 7a fid. Bank of N.S. Wales—Buy £4O. Bank of New Zealand—Buy 575, eel 68s, Commercial Bank—Buy 225, gel 22s fid. E.S. and A. Bank—Buy ffi 9s, sel £0 15ft . National Bank of N.Z. —Buy ffi, sol £(T Is 3d. Union Bank—Buy ;£ll 19s, sel £l2 3s INSURANCE. ’ National Insurance Co.—Sel 14s Bd, N.Z; Insurance Co.—Buy 43s 3d, sel 44s 3d. • \\ South British Insurance Co. —Sel fils fid* Standard Insurance Co.—Sel 625. SHIPPING. Huddart, Parker (pref.)—Buy 20s. U.S.S. Co. (pref.)—Buy 20a, COAL. Westport Coal Co. —Sel 31s. LOAN AND AGENCY, Goldsbrough, Mort—Buy 31s 9d, sel 32s 8(J. . i ' N.Z. Guarantee Corp.—Sel fis fid. Perpetual Trustees—Buy 68s, Trustees, Ex. and Agency—Buy 60s. i ’ MEAT PRESERVING. N.Z. Rsirigerating (pd.)—Buy lls fid, ■el 135.; N.Z. Refrigerating (cont.) —Buy 5s 9d, ■el 6* Id. . - MISCELLANEOUS, i ® r ßish Tobacco—Buy 425, set 435. Brown, Ewing (pref.)—Buy 20s; Brube Woollen Co. (ord.)—Sel 13s 3d. G-ystal Ice. Co.—Buy 22s 3d, sel 275. 'D.I.C. (pref.)—Buy 21a ' Dominion Rubber—Sel 28s, Milburn Lime and Cement—Buy 355, ■el 36 s. . - National Electric—Buy 9s fid, sel 10s . VO. N.Z, Drug Co.—Buy 71s, sel 72s Bd. N.Z. Farmers’ Fertiliser—Sel 21s 3d. Christchurch Gas—Sel 20a. ’■ Wilsons (N.Z.) Cement—Sel 40s. BREWERIES. „ N.Z. Breweries. Ltd.—Buy 82s, sel 83a fid. • N.Z. Breweries Debent.—Buy 21s fid. N.Z. Breweries Stock—Buy 21s fid. Dunedin Brewery—Buy 87s, pel 89s 6d; > - MINING. ■' Kawarau GM. 'Co,—Buy id, sel. fid. Nokomai Sluicmg—gel 22p fid, , Electrolytic Zipo ford.)—gp) 28a 9d. . Mount Lyell—Buy 32a fid, pel 33s fid.' sd, pel 6s 64. Paddy's point— Buy 3s fid, sel 4s. Kildare—Buy od. pel Is 3d. Winding Crepfe—gel fid prem. Stoney Creek-Buy 2d prem. Blenheim Oil—Sel 525. WAR BONDS. 44 per cent. Bonds, 1938—Sel £99 ss. 44 per cent. Bonds. 1939—5 el £99 ss. 4J per cent. Inscribed, 1938—Sel £99 5s 45 per cent. Inscribed, 1939—5 el £99 ss] NORTHERN EXCHANGES. (Peb United Peess; Association.) The following business was done on Changes yesterday;— Auckland.^—Sales: Commercial Bank of Australia, 22s fid; Bank of New Zealand, Union Bank of Australia, £l2 . -New Zealand Insurance. 43a 9d; Auckland Gas, 23a sd; Birkenhead and North- , cote Gas, 12s fid; Dominion Pictures, 21s--1 Ajburnia Gold Mining. 9 S ; Waihi. 13s .fid* ; ’ £,^0 e l li^° n hT S , ale ? : T oo^’B Brewery. £1 IBs 75d, Toohey a Brewery, fl 5 a fid; Sharland and Co. (ord.), £1 Christchurch.—Sales; Australia Bank of Commerce, 255; Commercial Bank of Australia, 22s 4d, 22s Id; National 'Bank of ■' Australasia (£5 paid), £7 9a 6d; National Bank of New Zealand, £6 Is 3d; New Zealand Breweries, 82s; Colonial Sugar, £44; Mount Lyell, 33s 7d; Mahakipawa, l4d *7 -r-Sales reported: Commercial Bank of ' 6d; ElCCtr ° lytic Zinc DOMINION RUBBER COMPANY. ANNUAL MEETING OF SHAREHOLDERS. ■p,S}f meet T in S M the Dominion - S„ C W y ‘ Ltd -' Whs held in the vflftlfiper of Commerce board room yesG!eßd, hihg) prop}ding over a f®}L fittßhdasce of shareholders, and balance nheet disclosed a net profit for the year of £442 ad( l ed r to tho balancc of £.3023 Ss 2fi brought forward from last year mads a total of £34(50 Ip Ud This it wap proposed to carry forward to next laiAb'had Uea disposed of during the year, and 62,0491 b were earned fiver to next year. In view of the low pnee obtainable for the output, and taking everything int«. conaideration, the directors regarded the result of the year as satisfactory The average , price realised was- only 9 1-Sd per lb The planted area was 1063 acres, of which 902 acres were tappable. All buildings and 1 P l a ? fc - are i n g ? od order . and arc taken in \ at fair valuation. ’ „moving the adoption of the ropert n j e - sh t eet tlie ehairman stated that the directors regretted that the profits earned would pot permit the payment of a dividend, and the amount £442 13s 9d was added to the ” carry forward.” which now totalled £3406 Ip IJd The K Dy B S M, lat .% D ’ Mr. William Bower BeJJ, had passed away after a veryjbort illness on J«nq 4 last. Mr Bell Vas manager of the estate for many years,. almost from the inception of the company. The board decided to appoint ■gents to look after the financial affairs +■ ' : * l ?, es * : ate, and after fullest investigation Messrs Boustend and Co., Ltd,, of Singapore, c firm of the highest repute were selected (op the position. They P had carried out their duties to the entire satisfaction of the board, and to the advantage of the estate. After full inquiry they chose as manager Mr H D Fisher and he took control on July 28 fast, and had taken active steps to get the plantatJgn. a state of thorough order and efficiency. Mr Fisher worked under the supervision of Messrs Boustead and Co Ltd. Contrary to the opinion of the experts, the price of rubber dropped, instead of rising, and the average price obtained throughout the year was only 9 }-5d ?if r - ’ rhe position had been met by ri ß. ld . control of all expenditure, and the elimination ,o{ everything but the bare essentials necessary for the welfare of the estate. According to the last rcpprt .t° hand, dated November 0, the buildings and machinery were in good working order, and the work on the estate 1 .Was being carried out on sound and econo- , nucal lines.. The estate had the advantage of being a heavy producer of rubber per acre. _ The directors were very hopeful of being able to produce at a very much lower cost per pound next year. The- report was adopted without discussion. The retiring directors (Messrs H. Adam and John Scott) and the retiring auditors" (Messrs M’Auliffe, Davis, and Hope, of Penang, and Mr A, W. Moodie, of Dunedin) were all re-elected.

LOCAL AND OVERSEAS MARKETS.

GORE STOCK SALE {Froii Our Own Correspondent.) „ . . , , UORE, February 26. The fortnightly stock sale was held at Gore yesterday in fine weather and before a y attendance of farmers and buyers. Sheep.—The entry, 2200, was the largest this year, and included several lines of tairly good fats. Competition was fairly good amongst the butchers, and wethers made 28s. and ewes from 16s 3d to 18s od. In the'store pens, young breeding ewes were forward in fair numbers, but buyers were acting cautiously. Several lines, of two-tooths were forward, and t i be £ k price, 20s, was secured by- Mr aao mu be8 ’ Wjumumu, for a ‘line of 332, Others made from 27s 3d. Practically sound-mouth ewes in good condition changed hands at up to 15s Bd, while tailing sorts made 6 S 8d to 9s. Store a ™, we re disposed of at from lls to ioS od.

Cattlej—The entry comprised about 50 ■head. There were not many fats forward, and a line of steers was distributed a 2 l °hest the butchers at from £9 to £lO Jus fid, while fat cows made up to £lO <8 Od, In the store section a line of four-year-old bullocks from Bushy Park, Waimumu, realised £l2. CEYLON TEA SALES. 0 o*tn enniu 7 e . cVs auction te Colombo ~,21u,00Q1b of tea were catalogued. The quality was equal to that of last week, -there was a greater demand for common teas. A steadier tone prevailed for coloury medium teas generally. Good teas with quality advanced two to three cents. DAIRY PRODUCE OUTLOOK. QUESTION OF SUPPLY AND DEMAND. NO CAUSE FOR ALARM. Speaking at a meeting 0 £ the Dairy 1 nctery Managers’ Association at Patea ■ y ’ Brash (secretary of the Dairy Produce Board, had the follow, mg observations to make in respect to the outlook for dairy produce, at the present time. He said: seeking _to take a world-wide view of the dairy industry one naturally asks: Jp at the future? In the first place, it should, bfe: recorded that the marked advance in the interest being taken in *P e hPPbcation of science to the industry shouJd bear fruit in the future. In the past we have been learning by experience somewhat bitter at timesf and irscience tn ° r 9 ad to greater efficiency in production and .manufacture it is all e „J? ood - Ylowing the world’s butter production and the increasing tariffs resffiting in greater quantities finding .their BHfnV* th w on y free market—viz.. Great ™a am . We cannot but feel a little 38 |P the possibilities of the supply exceeding the demand, and yet if thaKthfl^ 11 - 18 carefull y. analysed we^feel growers practmaHy ruined with the open3QK.up of great areas of new erain-nro. »«° ssrt-ips ®fl diGal ?>?auge A“f n > to o* the world-wide tendency is Tor the great cities , to became ever y larger from 88 the ID land an Th incr t Med Production s^nde^than^butter. 86 ffr^hS ?° increase in. the quanSscgtsi RIMU FLAT GOLD DREDGE. fabric a'ncfiof tf" Bteel structed dredge for tTe RiL Gold Dredg’ mg Company, Ltd., has 'been let to +if, respondent o! the ■ ChristchSch Ifmes)' mtrn°oi I .S''SS “S K Se r 5“ "‘,f 1 ,a( Imgton, representing' Dorman Long and Co„ and R. A. Skejton and Co., of London •*u*i Plates and standard structural shapes will besupnhedbyDorman LonfXl Co„ w.th all the broad flanged beams The I? fo^ m R - A.’Skelton ihe pontoons and the main sunerstnipnnisnett they will be launched in a nond where P,f Dvlded h y the present dredge Stdee wfll 1 '°l. tho Present netT d . aisd be brought alongside tlm new structure, so that the machinery will illi r he y f tr f B , fe! :[ ed - : rhe oeVd J redse bp °f steal 'throughout, having m of e ?R a t le P* tb S f 118 feet * with a biufadth of 56 feet and q depth of 11 feet. Aet?fn *? K i to i pr i es?nt calculations, the reconstructed dredge will be in Operation Tv January. Many parts of the maeffinerv wHh h LtlT en li dredKe "7° he replaced several of the d m ? re 6ab . sta ntial parts, increased 0 * inT motprs bew 8 materially increased in. horse power. It i s ostf. mated that the reconstructed dredge will have anmoreaVd capacity of from 10 to lLf e i C ? nt of that of the mo *ent Jredge, The new dredge will require an adffitional 100 to 160 horse power of hif H Ct n lea the supplying of which 1000 *TvV insta / lQtio “ of a new thatotal 6 ° f a fci'tiicr £25,000, so with th io tQ - a! oX P c ndltuve in connection mill . this important mining enternrisp Hvl'llJ 36 ln + . tl,e region of £70,000. The dredge continues to win gpod gold returns LONDON MARKETS. Messrs Dnlgety and Co.) Ltd., have received fie following cablegram from their head office, London, dated February 25: Dairy produce; Prices arc Is to 2s per cwt higher for butter and Is per C wt. Inghei* for white cheeae Quotations are: iNew Zealand finest butter, 145 a to 148s* Australian finest unsalted. 145 s to 150 - Australian finest salted, 141 s to 144 - Australian g.a.q., 137 s to 140 s. Vow Zealand cheese, white 87s to 88s. SYDNEY WOOL SALES!

(United Press Association.) , (By Electric Telegraph—Copyright.) - T> . . SYDNEY;, February 26. (Received Feb. 26, at 11 p.m.) Vfifa l i ' Vool c sa . le . s . offerings totalled 7875 bales, of which 7552 were sold, in addition to 177 privateiv. The maritet WHS again very firm for all finer deseripof merinos. Greasy merino brought

WEEKLY MARKET REPORT r, Burnside, February 26. rat Cattle.—There was a yarding of 164 head, including a sprinkling o£ prime heavy bullocks, the balance consisting of medium sorts and a large number of cows good, medium light-weight heifers being in larger supply than usual. The sale was irregular, and eased considerably towards the finish. Prime ox beef can be quoted as being £1 to £1 10s in. advance of last weeks rates. Good, handy-weight heifer beef was in keen demand, but cow /beet met with an indifferent sale, and did not show the same appreciation. Extra prime bullocks made to £22 os, prime £l7 10s to prime £l4 t 0 £l 7, heifers to £l3 10s, cows £lO to £l3. New Zealand Loan and Mercantile Agency Company Ltd., sold: For Walter Blackie (Mosgiel) 2 bullocks £18; W. Kirk (Mosgiel), 2 £lO 12s 6d; John M’Donald (Mosgiel), 1 heifer £l2; a client, 1 bullock £lO I heifer £9 17s 6d. Donald Reid and CoLtd., sold: For Wilson Bros. (Stirling; 2 bullocks £22 ss, 2 £2l 12s 6d; James Renton fMosgiel), 2 £22; Simon Wngbi (Bnlclutha), 3 £l6 17s 6d, 3 fIG 10s, i y® 4 Ml 15s; J. S. Fleming and D®* ’ 2 M 6 12s Gd; James Thom son ( Banks,” Manngatua), 2 £l6 12s k 2 £l3 12s 6d; Walter Blackie (Mbs P. ,e D» 1 £l6, 10s, 1 £l4 Cs; exors. late Wnham Kirk .(Mosgie!), 2 £lO 7s 6d, 1 £ls 2s fid; William Lindsay -(Allanton), 1 £l4 , £9 10s - v - Evans (Motaku) 1 £ll MsOd. 1 £9 2s 6d; Peter Robertson (Outram), 2 £ll 12a 6d;. William Borth wick (Milton), 1 heifer £lO 15s, 1 cow 10 « 75 .„ 6d ’ I£o 17s 6 <l, I £o 12s 6d, 2£9 os, 2 £9, I£B 12s 6d. The Otago Farmers Co-operative Association of New Zealand, Ltd., sold; For A. R. Townsend (Waikouaiti). 2 bullocks £22; Wilson Bros .(Stirling), 2 £l7 10s, 2 £l7;-Robert Wilson (Riverside). 2 £ls 2s Cd, 1 £l4 2s 6d, L heifer £ll 10s; J. Rawcliffe (Kokongd), 2 bullocks £l4 10s, 2 £l3 10s. 1 £l2, 1 fll lOe, 1 £lO, 1 heifer £9; James Douglas (East Taieri), 1 bullock £l4 2s S d j *!' ala “ d (Mosgiel). 3 £l4 2s 6d, 1 £l3, 1 £l2 10s, 1 £ll 17s 6d; a Taieri client, 1 heifer £l3 15s, 1 £l2, 1 £ll 15s 1 £ll 12s 6d; W. Blackie (Mosgiel)), 1 heifer £ll 17s 6d; Wiliam Kofoed (Outr(lh\) ■1 M 0 17s 0d; J, C. Renton (Mosfl°l7 Cd - 2 heifers £9 2s 6d; William Lmdsay (Allanton). 1 £9 ss. •—-Wright, Stephenson, and 'Co., Ltd., f i : efS v -i Kirk (Mosgiel), 1 bulJ MG; James Renton (Mosfi I ?}}’ I £ \ 7 I ,s Gd, 2 £l6 ss; W. Lindsay (Allanton), 1 £l6 15s, 2 £l7\7s 6d; N and I. Reid (Outram). 2 £l3 I7s 6d; James Dow, )un. (Outram), 1 cow £l3 10s; Alias Lambert (Brookville), 1 £ll ss; D. Grainger (Maungatua). 1 £ll 15s; (Poolburn), 1 heifer £ll 7s Cd. , I V? S ft 1, \Prr I f 6 17s 6d > 2 bullocks £lO ss, D, MKnight (Clarksville), 1 |!j olfe JnJ°p ss ’ -r l . f 9 5s :~ —-Stronacb, MorjPPd Oo Ltd,, sold; For exors. late W. Kirk (Mosgiel), 3 bullocks £l7 ss; W Blackie (Mosgie!). 1 £l7; Mrs H. M. rr (S O T'T’ 2 £l4 l-7a 6d, 1 £l4, 2 /fn i \p° w Ml; John Souness (Clydevale), 1 bullock £l4 12s 6d: A. Scott, 3 cowa to £l2 10s; C. Rollo (Ros*y a U ’ J he ’t er M 1 15s. 1 £lO 17s 6d; G. M M «ter (Saddle Hill), 1 cow £8; a client, 1 bullock £ll 10s, 1 heifer £lO ss. ihe Rational Mortgage and Afcnncy Company of New Zealand, Ltd,, soldi For d ernes Murray (Kaka Point), 2 bullocks £2d in od ’ 1 P lB 10s > 2 £IB s ®. 2 £ls; 2 M 2 ,, 105 / client, 1 £l7 ss, 1 £l6 10s; , j.f,(;Loci,end,” Mosgiel), \ R* T ; .^ lrls (Mosgiel), 2 £l4 ss; W, Lindsay (Allanton), 3 heifers £l2. L ixn lss: r, j f R . eiltol J (Mosgiel), 1 £ll 7s T d i l £°/~ Da 'j? e t7 and Co., Ltd., sold: For JohnM Donald (Mosgiel), 2 bullocks £l6 Lis; exors W Kirk (Mosgiel), 2 £ls 12a 6d; John O Shannessy (“ The Gums,” Long GuHy), 2 £l2 ss, 1 £ls; Walter Blackie (Mosgiel), 2 £l6; William Lindsay (East Tamn). 1 £l7, 1 £l4 7s fid; Robert EamMton (Wylies Crossing), 2 cows £l2 10s, 2 £ll 10s, 1 £ll ss. . Store Cattle.—There was a full yarding, with no outstanding lines of cattle forward. A few, pens of poorly-bred steers made to f 7 . 15a, and good conditioned cows and heifers were firm at last weeks quotations. New Zealand Loan and Mercantile Agency Co„ Ltd., sold: For C. R. Pophaxn (Waihola), 3 steers £6 14s, 1 heifer £4 15s; Alexander Murray (Mosgiel), 1 vedler £5 I9s, 1 £4 2s, 1 £3 11s, 2 £3 6s; John M’Donald (Mosgiel), I vealer £3 ss.——Donald Reid and Co,. Ltd., epld: For J. Henderson (Milton), 1 vealer £3 15s, 1 £4; H. Bos (Port Chalmers), J vealer £1 ss, 1 cow £6 )0 8 , 1 £4 12s 6d; J. L. Robertson (Shands), 1 vealer £3, 1 £2 15s; W. Borthwick 'Milton), 1 vealer £3 19s, 1 £2 10s, 1 £2 Bs, 2 cattle £ls ss, 2 £ll 10s, 2 £ls ss, 1 cow £3 19s, 1 £6, 2 heifers £3 8s; Mrs W. Evans . (Green Island), 2 vealers £1 3sj lan Lindsay (Allanton), 10 cows £9 7s 6d; J. Campbell (Momona), 1 bull £8 15s, 1 heifer £7, 1 12s 6d; J Lumsden (Waratah), 1 cow £8 2s 6d, 1 £4 10s; James M'Meekin (Higholjff), 1 cow £8 10a; S. Tweedie (Wafiau), 1 cow £6 'L7e 6d, 1 bull £5 10s; R. Fisher (Ranfurlv)* 5 heifers £7; A. Jopp (Mount Allan)', 1 cow £9 7s 6d; R. Fisher (Ranfurly), 1 cow £6 7s fid, 1 £6 12s 6d; J. Paisley (Upper Junction 1 ). 1 cow £5 ss; Arthur Carey (Port Chalmers), 1 cow £8; W, Fox (Pine Hill), 1 cow £o r l7s 6d. The Otago Farmers’ Co-operative Association of New Zealand, Ltd., cold; For William Curran (West Plains), 1 cow £l2 ss, 1 £l2 2s 6d, 1 £ll 7s 6d, 1 £lO 15s, 2 £lO 12s 6d, 2 £9 17s 6d; E, 'Ladbrook (Invercargill),'l cow £ll ss, 1 £ll 2s 6d. 2 £lO 10s,- 1 £lO 7s 6d, 1 £9 12s 6d, 2 £0 7a 6d; Hutton (Edendale), 1 cow £lO 17s 6d, 1 £lO 12e 6d, I £lO 2s 6d, 1 £9 l_7s 6d, 1 £9 10s, 4 £8 ss; A, Scott (Burnside), 1 cow £8 7s 6d; William Lindsay (Allanton), 2 cows £lO 10s, 1 £lO, 3 £9 12s Od; P. Wintbrup (Green Island) 1 heifer £9. 4 £7, 1 steer £7 12s. 3£4 )ss; John Nicholson (One Tree Farm), 1 cow £lO, 2 £8 fie. 1 £4 2s 6d, 1 £4, 1 £7 7s Od, 1 £B, T £7 15s, 1 vealer £3; Hope Bros (Nenthorn). 8 steers £7 15s, 2 £3 2e fid, IS calves £2 7e Gd; Robert Wilson (Riverside), 10 cows £5 17s 6d; J, J Pucldy (Waikouaiti), 1-bull "14 15s; William Blackie (Mosgiel), 1 cow £ll 7s Od, I £7 17e 6d, 1 £9 10s; Frank Doherty (Outram), 1 bull £9 7s 6d, 1 heifer £lO. I £7 Is, 1 f 7.35, 1 £5 ss, 2 £6 2s; D, Peat (Tapanui), 2 heifers £5 Jsa, 1 vealer £2 11s, 1 £1 17s Gd; a-Peninsula client, 1 Vealer £2 lls, 1 £2 9s, 1 £1 10s; T F. Park (Brockville), 1 vealer £1 3s; Gordon M‘Master (Saddle Hill), 1 vealer £1 10s, 1 £1 2s 6d, 1 cow £6 10s; Adam Harris (Green Island), 3 heifers £6; a client, 1 vealer £2 4s, I £1 13s, 2 fl 2s; Stewart Sim (Heriot), 1 steer £4; Mrs J. Sim (Heriot), 3 steers £5; D Hall (Pjne Hill), 2 heifers £4; M. Struthers (Pine Hill). 2 heifers £2 7s 6d; E. Harwood (Tomahawk), 1 cow £7, 1 £5 12sMrs P, Walquest (Leith V r alley),il heifer £8 ss, 1 bull £7 16s; James Douglas (Mosgiel), 1 cow £lO 17s 6d. 1 bull £9; J. Black (Mataura), 6 cows £0 10s, 4 heifers £3 lls; Mrs M. J. Sim (Heriot), 1 cow £10; J 8 Blair (East Taieri), 1 bull ffi 17s fid. Wright, Stephenson, and Co., Ltd., sold: For W. H. Johnston (Wvndham), 1 heifer £lO 10s, 1 cow £8 14. 1 £8 12s fid, 1 £7 15s, 1 £5 10s, 1 £4 14s, 1 £4 ss; Mrs A. Butler (Clarks), 1 heifer £lO 12s Od, 2 £lO ss, 1 £9 10s, 1 £9. 1 £8 10s. 1 £7, 1, £G Is, 1 £3 7s fid, 6 £5 4s, 1 £4 12s fid; A. Kennedy (Fairfield), 1 .bull £8 17s fid, I vealer £2 I9s, 1 £2 Bs, 1 £2, I £1 lls; R. Storie (Hampdeni 1 heifer £9 2s fid. 1 £3; R, MTCenzie (Wyllie’s Crossing), 1 cow £8 17s, 1 vcnler £2; W. D. Sanders (Titri), 2 cows for £l7; T. Murphy (Pine Hill), 1 cow £lO 10s, 1 £7 10s, 1 £5 19s, 1 bul] £6 2s 0d 1 heifer £4 17s, 1 steer £1 8s; G M‘Master (Saddle Hill), 1 cow £7 17s Cd; J. Dow, jmi. (Outram), 1 cow £0 fis; R H. M'Leod (Slmnds), 10 cows £5 17s fid; C. Noono (Poolburn), 1 cow £0 10a; H Dunn (Upper Junction), I bull £1 10s. Stronacb, Morris, and Co., Ltd., sold: For Mosley and Sons (Clydevale). 1 heifer £ll 2s 6d, 1 steer £0 17s Gd, 1 cow £9 15s. 1 £7 10s; R,. Jackson (Tckui), 1 heifer £lO 15s, I cow £9, 1 £8 10s, 1 vealer £2 IGs, 1 £2 14s, 1 £2 8s; Frank Tooincy (Waikouaiti), 1 cow £lO 2s fid. 1 £0 5sMaxwell Bros. (Waikouaiti), 1 cow £9 I’2<3 Od, 1 £8 17s Od, 1 £8 7s Cd, 1 £8 6s, i, 4 /-rf 7 >” s ® d> £r> £ “ 8 ® d ! Charles Rollo (Roslyn), 1 heifer £6; J Millar (Waitati), 1 vealer £2 9s, 1 £2 7b. 1 £2 ss; Mrs Marcuesen (Upper Junction), 2 vealers £1 lls: clients. 1 steer £lO )2s Gd, 1 cow £lO Se, 1 heifer £9 15= 1 vealer £2 15s, 1 £2 lls. 1 £2 2a, 1 £1 7s. -—The National Mortgage and Agency Company of New Zealand, Ltd., sold: For H. Mitchell (Maungatua), 1 bull £7 5s 1 cow £6 IBs; G. M’Master (Saddle Hill) 1 cow £5; W. Borthwick (Milton), J calf S ' Keid (Henley/, 1 calf £1 2h-—Dalgoty and Co., Ltd., soul; -o or r- M o V.; M A a S?" (Waihola), 2 heifers £3 as, 3 £3; A. L. Gooch (Mihiwakal 1 bull £9 7s Od; G. M’Mnster (Saddle Hill) 1 cow £5 12s od. I calf £1 lls. Dairy Cows. Twenty dairy cows were Yaided. Any good conditioned cows ami (miters close to profit made up to £l3 15s No spring cal vers . were forward. ’ Donald Reid and Co., Ltd., sold: For Casey Miller (Sawyers’ Bay), 1 cow £l2 3s- The Otago Farmers* Co-operatum AsHociatmn sob!; Fur A, R. Townsend (Waikouaiti), 1 heifer £l3 15s; E. Deliver (Highcliff), 1 heifer £l3 Iss; 11. Fiotfc (Leith Valley), 1 heifer £ll IDs; John Black (Mataura), 1 cow £ll ss; E. Brown

(Cayersham), 1 coxy £lO, 1 £9 Iss, 1 heifer £7 10s; W. Lindsay (Allanton), I cow £6 ,-" —-Wright, Stephenson and Co., Ltd., sold: For M‘Ara Bros. (Pine Hill) . 1 cow £11; J. A. Duncan (Hillgrovo), 1 cow £lO 2s Gd. 1 £6 15s, 1 £6 2s 6d; S. Aguew Sawyers’ Bay). 1 cow £8; E. Edmond & eltl ? Y alle y). 1 cow £7; E. M'Gowan (South faieri), 1 cow £6 17s 6d. The National Mortgage and Agency Co., Ltd, sold: For T. Baird (Brighton), 1 cow £0 10s; Mrs J. Clarke (Sawyers’ Bay), 1 heifer £7 12s 6d.

Calves.—Wright, Stephenson, and Co., Ltd., sold: For Miss M, Harrison (Momona). 1 calf 265; F. Johnson (Momona), 1 calf 255, 1 12s, 1 Bs, 1 7s. 1 6s; c! Pryde (St. Leonards), 1 calf 12s, 1 6s; J-Taylor (Otakou), 1 calf 8s; D. Shanks (Ravensbourne), 1 calf 3s 6d. New Zealand Loan and Mercantile Agency CoLtd., sold: For Mrs Andrew Gamble (Mosgiel), 1 calf £1 Is; L. S. Dyer (MosKiel), 1 calf 11s, 1 10s, 2 Bs. Donald Reid and Co., Ltd., sold; For H. Burns (Portobello). 1 calf £1 14s; A. C. Wheeler (Momona). 1 calf £1 Is; a client, 1 calf 17s, 1 17s, 1 6s; C. Campbell (Momona i, 1 calf 16s; W. Munro (Berwick), 1 calf 15s; T. Ryder (Henley), 1 calf 13s; M. M’Conuell (Kaikorai), 1 calf 10s, 1 Cs 6d; H, Burns (Portobello), 1 calf 6s.—~ The Otago Farmers’ Co-operative Association, Ltd., sold; For J. E. Taylor (Broad Bay), 1 calf 31s, 1 24a; A. Farquharson (Signal Hill), 1 calf 275. 1 10s; Murray Bros. (“Seaview,” Cavershara), 1 calf 225, 1 8s; G. Geddes (Green Island), 1 calf 20s; O. North '(Portobello), I calf 235; H. Burns (Portobello), X calf IDs, 1 15s; C. Rollo, 1 calf 17s; R. Hellyer (Anderson’s Bay). 1 calf 14s; J. Johnstone (North-East Harbour), 1 calf 5s 6d. Stronach, Morris, and Co., Ltd., sold: For E. Geary (Portobello), 1 calf 345; G, Swain (Port Chalmers), 1 calf Bs,

Fat Sheep.—A yarding of 1777 was penned, the entry consisting of a very limited number of extra prime wethers and a large proportion of freezing ewes and wethers, heavy ewes and medium wethers. The market opened firm for all freezing sheep, and this feature was maintained throughout the sale. Heavy wethers can be quoted as bringing up to 2s more than last week, while medium wethers were Is in advance. Heavy ewes were _ easier by up to 2s, and while an erratic sale resulted for ewes, good mediums can be quoted as being from Is to 2s easier. Extra prime heavy wethers made to 35s 6d; heavy, 29s to 335; good medium, 27s 6d to 28s Gd; freezing grades, 24s 6d to 26s Gd; extra prime heavy ewes to 28s; prime, 20s to 245; light prime, 18s Gd to 20s; freezing grades, -,14s to 18s Cd.——The New Zealand Loan and Mercantile Agency Company sold: For Jaffray Bros (East Taieri), 14 wethers 30s 3d, 15 275; a client, 14 wethers 275, ® 3d, 10 25s 9d; H. 0. Stephens (Myrosa Bush), 18 ewes 23s 6d, 21 20s. no' p 7l9s;; O’Neill (Enfield), 18 ewes 22s 6d, 24 20s, 25 19s 3d, 9 19s, 34 18s 64; Edgar Finnic (Saddle Hill), pdn ewes 19s.—n-Donald Reid and Co. sold: ,°r W. H. Tregonning and Son (WaiPiata). 12 wethers 31s 9d, 16 26s 6d, 16 25s 9d, 11 24s 6d, 5 ewes 21s 9d; R. H. , ■ (Milton), 2 wethers 30s, 5 ewes ISs 9d, 6 19s 6d; E. France (Pukerau), 1. wether 25s 9d, 16 ewes 24s 6d; Andrew Young (Outram), 7 wethers 25s 04. 18 ewes 17s 3d; P. Davidson (Limesprings), 8 wethers 28s; J. Cunningham (Pukerau) 13 ewes 255; Mrs A. M'Donald , (Puke™l})> ewes 245, 7 20s; J. A. Marshall (Milton), 2 wethers 245, D. Baird (Mihiwaka), 4 wethers 22s 9d; C. H. Potter it fi,,' 31 ' 311 ) f 0 ewes 225; Mrs C. Wisely Milburn) 8 ewes 20s; John Campbell (Momona), 8 ewes 20s, 16 18s 3d, 15 17s 9d. 19 17s Cd, 8 17s; R. F. Sim, account 7a Couborouch (Kelso), 15 ewes 19s, 15 18« 4'fa H ? rrls (Clinton), 39 ewes , 1 8 9d * , 2 | Jatnes Lowery (Milton), 1_ ewe 18s Gd; R. F. Sim, account R. Hamilton (Kelso) 81 ewes 18s 64, 13 18s 3d, 9 T7s 9d; John Young (Allanton), 15 ewes 18a 34. 17 18s; F. Driver, sen. (MihiMiuL}°^ 7CS 18 ® 3d : Ale *. Campbell (Milton), 2 ewes 17a 94. —-The Otago warmers Co-operatiVe Association of New Zealand sold: For R, Mitchell (Outram), 25 325; R. Clearwater (Porto-* T tUl 0 2 0 7 s 9 , d; Joh « Robinson (Milton), 4 ewes 23s 6d. 3 20s 6d; H. Orr (Moneymona), 3 ewes 19s 6d. 5 17s 6d; is/w- wT JS r . ee » • 3,ewes 7,5 Wright (North Taieri), 7 -f, Wright, Stephenson, and Co. |g d fi F a9 Ch oi° C n ( Ke]s °l ■ 14 wethers 35 Gd, 15 32s i Od, 9 325. 18 31 s 6d nen ewes 22s Gd; J. D. M’Master (WyndT^’r* 12 aethers 34s 9d, 10 335, 17 31sC (ota K ou) ’ pen wethers 325; C nS (Tapai'iu). 18 wethers 28 s Cd; 20s 3d 17 iR° ol na rl il’ A? ewes 24s 9d - 5 M- T 'r 17 H' 18 rw ?d ’i 19 2 wethers 20s nj V W , ms! o' v (Chatham) 3 ewes 2Qs 9d - 7 20« Cd. 18 18s 6d.;7 19s, 25 alr i er (Brighton)l9 ewes 19s. J H t nm oh -’ an d Co. sold: For Fleming 'and Co. (Titiroa) 16tm th |tnfP 3 % i 9 30s 6d ’ 18 295; PukeO 7% aroa >- - 17 wethers 29s (PatearoaP’pQ 26s 9d; Linnburn Station 13 S y ’, 9 withers 28s 6d. 15 275, 13 26s 64, 3 ewes 18s 9d; A. Scott 30 lM?hiwakai ret l9 erS !u 245: G - M’Leod and ro L wethers 20s; Henderson 18s 6d 'mi an Vr as ewes rliffl ii 18s 3 , d i D - O’Connell (SeaI 1 ? wps 18s; H. F. Bennvtt fSeichff), 4 ewes ie s 9d; J Fraser (MornA?'V Gs 'r — The National Mortfand sofd- AS Pnr y p C °v pa ? y of New ZeaMouthl 99 r -Bncas (Tuapeka luoutoj, 22 wethers 29s 9d 20 97« s ewe ß 21s, 20 20s, 27 19s 35 ’ii t 27 °263 1 6 1 2Ss ' 27s l Son (DunVohin) 3 wether!‘2l S ma 22 27s i?’ 2 £ Orcek): S- {w A°°t id %' 2 ’ 4 -- TewesMs 3 ¥7 A Cd. e T3 S 2O S 2S u 7 17 s S od j VPfrs 18s Island), 7 ewes i7sl~n.?m f er K ? r s? n sold- Fnr rr eS „Dalgety anff Co, S, Wt ’fiJSi ■a? schedule rates be y°nd the keenly foi firi:shed%ort Cher Mndi mPet!nf ! unfinished sorts were slow “I 'r a " d Prime sold at 27s 6d to 2 9« ft Extra unfiifished, b Ms^o^iefod lß^ 6 ' 1 P) Wn 3 .A&6 SsSToSSijra.. sola, hor Miss D. Jensen iv*~l Taieri), 1 lamb 26a Id- mi? 80 G- st (Saddle Hill) 1 lamb 20s- 'V 1 ??' (Brighton), V lamb 20s ’i Fmme (Saddle Hill) 2 limh- i» Edßar Donald Reid and Cm.’Ltd Sd- F 077 ? r 25f , 6d e - n 'Brv ~,i' ^P) ' 7 ’ latnhs 28g Odi 32 25s 3d; 47 235. ( 37 O 20 b a a 3 ri ' ' Jas. Lowery (Milton), n' Campbell (Milton) o 24s n A (Motaku). 4 235, 2 21 2 5! ’1 s En j rfio . u f wti-hi si T'- 1 3 135,-—. IY' S Cd, A. Baker (Brighton), 3 25a A 00.. % 3d: J - P- Gardini* 2’ rid ’ D ’ q Na pCit |' t (Mosgiel), l is s , 10 ISs C ~Sti on,acli, Morris, and Co Ltd sold: For A. Scott. 13' lambs «’ 9r rS r P\P' C T‘ CU (Seneml lambs P o f !i Peyton (Brighton), 9 T! ,0 {i ls (Brigliton), l~ 2 os (id to 20s tl H j R WM Ctt ( P ICM) - lalab s 22 5 2 ed. 6 i2 6 : uP:!d VC “ Z “i-l V " od ’ sifle ). 19 25s 3d. fo We 3 T 1 T l:,nl ? c ty and Co.. Ltd soldGd’ G H r nnp 3 lambs 29s wiu, M l hr (Mosmel). 222 - Jas HtoifWSin^r 0 - 3 2 ? s: Robert Ham: iiton (Uylios Crossing), 1] 23s- Miss aP”"ri (Tnpanni), 3 24s 6dri P '\ir^ ;, i np^e (Milton), 4 25 a fid- \V A - w‘ ,Slt .(North Taieri). 3 24*’ od-‘ Tu-ePP (Brighton) 2 ](ls 9d- f a ’ L ' i ll ( I f K ’ Eighty fat pigs were penned Ltd ’ sohPV' , ‘“T D a I,fll r Reid nlltl *C(>., »"> tssss 1 pi? Mi T. Collins IVvicr J“C" I? 13s; w. M'CrV(Beith Valley). 2 pigs £5 17s; J. Hargicaves (Leith Valley), G pig s £3 IQsAndrew Waugh (Halfway Bush), I pig f, 3 I2a: a northern client, 60 pigs at per to. J.iic Otago !Fa^me^s , Co-operative

Association. Ltd., sold: For an Owaka client, 1 pig. £5 12s, 3 £5, 3 £4 Is, 1 £3 3s; Pittance Bros. (Outram), 2 pigs £4 4s; Ohyei' North (Portobello), 1 pig £4 2s; 9n (Port Chalmers), 2 pigs fn .J i 3 % 1 Ds, I£3 3s. 2£2 ius, i iz 7s; A. Seymour (Upper Junction). 2 pigs £3 Is, 1 £2 12s; G. Armstrong (Mosgiel), 1 pig £3 2s; 6. Steventol\ rk? asfc 3 pigs £4, 1 £3 12s; J, M Ewan (North-East Harbour) 4 pigs £2 IDs; J E. Taylor (Broad Bay)’, 1 pig £2 cs.——~Wright. and Co., Ltd., sold; For T. Murphy (Pine Hill). 2_P>.gs £5 14s, 1 £4 Is, 1 £4; G. Sickles (Fairfield), 1 pig £4 Bs, 1 £4 7s; D. Hanna (Outram) 1 pig £4 6s, 1 £4 4s, 1 £3 Is; C. Brensscll (Outram). 2 pigs £3 Bs, 1 m 7 f' ?-i 3 4s - 1 £3 3s - 1 £3 2b; E. P Black (Maungatua), 2 pigs £2 17s. Stronach, Morris, and Co., Ltd,, sold: For Cuttance Bros. (Maungatua), 2 pigs £4 14s, 1 £4 2s, I £4, 1 £3 14s; a client, 8 pigs at quotations. Store Pigs.—There was a yarding of 70 store pigs which sold well at last week’s rates. The Otago Farmers’ Co-opera-tive Association sold: For J. J, Smith (Portobello). 3 pigs 295; Mrs J. Johnston (Green Island). 7 pigs 25s 6d; 1). xt‘ rd (Outram), 5 pigs 24s 6d. New Zealand Loan and Mercantile Agency Co., Ltd., sold; For 8, E. Bennett (Green Island), I pig Us. Donald Reid and Co., Ltd., sold: For T. Driver (Mihiwaka), 2 pigs 41s; a Henley client, 3 pigs 19s,_ 1 17s 6d; George Irving (Otokia), 4 245, 1 I9s. Stephenson, and Co., Ltd., sold: For E. F. Black (Maungatua), 1 pig 31s; Mrs J. Johnston (Green Island Bush), 1 pig 28s, 4 25s 6d; M, Vaughan (North Taieri), 5 pigs 255, I 245, 223 s 6d, 222 s 6d; P. Powell (Waitati), 6 pigs 22s Gd, 221 s; T. Lewis (Palmerston). 5 pigs 21s. Stronach, Morris, and Co., Ltd., sold; For T. Leitcli (Kuri Bush), 8 pigs 28s. COUNTRY ORDERS. Forward your next order for meat to Salisbury Butchery, Stuart street. We specialise on rail orders. Only Primest Ox Beef and Wether Mutton.’ Cheapest shop for cash. —Advt. SALE OF CARGILL’S CASTLE. ' Hutton’s Agency reports having sold Cargill’s Castle, St. Clair, together with 26 acres of freehold. The new owner is Mr J. H. Hutton, who intends to effect repairs and reinstate the building, ADDINGTON STOCK SALE. (Per United Press Association.) CHRISTCHURCH, February 26. i There -were heavy entries in practically nR the departments at to-day’s market at Addington. Values generally remained firm with the exception of fat cattle, which sold at prices below those of last week by from £1 to £1 IDs for steers, and £1 to £li 5s for cows and heifers. 1 Store Lambs.—This was the biggest entry of the year. The best lambs sold up 1 to late rates, but secondary sorts declined by Is a head. Values were: Best rape lambs 22s to 22a lid, good rape lambs 20s to 21s 6d, medium rape lambs 17s to 19s Gd, backward wethers l?s to 15s 6d, cull ;and small Cs to 10a 04, best mixed sex lambs to 21a 4d, good mixed sex lambs 16s to 20s, ordinary miked sex lambs, 10s to 17s 6d; cull mixed sex lambs, 7s to 9s; good half bred ewe lambs, to 18s 3d; good three-quarterbred ewe lambs, to 19s 6d; ordinary three-quarterbred ewe lambs, to 15s 2d,

Store Sheep.—There was a very large entry, and almost all were ewes. , A second draft of North Island ewes were forward. The sale was dragging throughout. North Island four-tooth Romneys brought up to 375. Values were: Extra good four-tooth Romney ewes, to 375; ordinary four-tooth Romney ewes, to 255; good two-tooth Romney ewes, 30s to 32s 9d; good four, six, and eight-tooth Romney ewes, to 245; sound-mouthed Romney ewes, 27s 6d to 30s; good two-tooth halfbred ewes, 27s 6d to 30s; ordinary twotooth halfbred ewes, to 24s 6d; ordinary four and six-tooth halfbred ewes, to 23s 6d; backward four and six-tooth halfbred ewes, to 16s; sound-mouth halfbred ewes, to 18s; sound and failingmouth halfbred ewes, 12s 6d to los 6d; good three-quarterbred ewes, to 325; ordinary two-tooth three-quarterbred ewes, to 255; good two—tooth Corriedale ewes, to 325; medium six-tooth Corriedale ewes, to 26s 9d; sound and failing-mouth crossbred ewes, 13s to 14s 9d; aged crossbred ewes, to 7s 3d; ordinary two-tooth halfbred wethers, to 19s; backward two-tooth halfbred wethers, to 14s 3d; good six and eight-tqoth halfbred wethers, to 22s sd; ordinary six and eight-tooth halfbred wethers, to 18s; good four and ffixtootn Romney wethers, to 25s 34. Lambs,—There was an entry of Jl3O head, and a good sale resulted. The Quality was very mixed. The avei’ace price was B£d to B|d per lb. Values were: —Extra prime lambs, to 30s lOd; prime lambs, 26s 6d to 29s 6d; medium lambs, 2 4s to 265; light lambs, 20s 6d to 23s 6d. hat Sheep. Between 10 and 11 races were entered, and these met with an irregular sale, with values practically on a par with those of last week. Values were:—-Extra prime wethers, to 34s 7dprime wethers. 30s to 32s Gd: medium wethers, 26s Cd to 295; light wethers, 21s to Jos Cd; extra prime ewes, to 27a 10d- ?| lm rn e l V ' 35 7n 21s i 9d t. to 245; lne( lium ewes’, 6d to 18s 21S; ‘ E lt and agcd e ' ves > 14s

4qn a iV-,a attle 'i — .T h ' ere an entr y 490 head, and the quality was the best seen in the yards for some time. There was a marked decline in values. Steers were cheaper by £1 to £1 10s, cows and heifers by £1 to £1 ss. Best medium- •“ made fron i 38s to 41s qv i?° u’ ulec l lum 'Weight irom 34s 6cl to 3/s 64; heavy steer from 34s to 375; good cow, to 34s Cd: secondary. 26s to 295:

rough down to 235. Values were: show steer, £22 12s 6d; extra heavy prime steers, to £l9 17s 6d; heavy prime steers, £l6 to £lB 10s; medium-weights prime steers, £l3 10s to £l6 10s; ordinary steers, £lO. 10s to £l3; light steers, £8 10s to £10; extra prime heifers, to £ls 7s Gd; prime heifers, £ll to £l3; ordinary heifers, £8 10s to £lO los; light heifers, £6 to £8; a show cow, £l7 17s 6d; extra prime cows, to £ls 7s Cd; prime cows, £lO 15s to £l2 ss; medium cows, £7 15s to £lO ss; light and aged, £5 10s to £7

Veal ers.—There was a large entry, consisting mainly of runners, and there was a good sale at late rates. The top price was £ll 8s 6d. i Dairy Cattle.—There was an entry of 45 head, with a few heifers forward. Values were easier than those secured last week. Store Cattle.—There was a fairly large yarding, and these met with a satisfactory sale. Eighteen-months heifers sold at from £4 16s to £5 Ss Gd; 18-months steers to £6; two-year-old steers, to £7 18p: potting bulls sold up to £ls Bs. Fat Pigs.—Porkers were in heavy supply, and values were a little easier. Bacon prices remained firm. Values wereChoppers, £3.10s to £6 17s Gd; baconers, oi I oi j £0 4 ,? 6d; price per lb, Bcl to 84d per lb; porkers, 52s and 68s Gd* average price per lb, 84d to 94d. ’ Store Pigs.—There was a small entry, ' Vl “}}. on i- V a tew good lines forward. Competition was keen. Prices showed an increase on late rates. Values were ■ Stores, 30s to £3; slips, 2Gs to 30 s : weaners, 18s to 26s 6d. ’