COMMERCIAL

Southland Times, Issue 19772, 21 February 1923, Page 2

COMMERCIAL

WALLACETOWN SALE. A VERY’ BIG YARDING. The yarding at the Wallacetown sale yesterday was one of the biggest for several years, and it was after five o’clock before the last pen was disposed of. STORE CATTLE. —A large yarding of all sorts, which were sold at prices on a par with those ruling during the last six weeks. M-ost of the yarding changed hands at prices that did not leave any great margin for graziers in comparison with those ruling in fat cattle pens. FAT CATTLE.—The yarding was the largest for some time. The contents of several pens was really prime quality stuff. A few pens were of somewhat inferior quality, but these met with a keen demand from graziers. Prime quality bullock beef averaged about 24/- per hundred, but receded somewhat in the last, two races when some good quality did not realise much over 22/-. Good prime heifers brought about 20/- per hundred, but some very fine quality cow beef did not realise much over 15/-, and on the average could be quoted at from 12/to 16/- per hundred. STORE SHEEP.—Yardings of these at Wallacetown for some time past have been very small, but this sale consisted of full yardings of most sorts, and all classes met with a ready sale at prices on a par with those ruling at the larger country store sheep centres for the past few weeks, and was a clear indication that the supply of good quality breeding ewes falls far short of the requirements for the coming season. Good store lambs met with a ready sale at prices on a par with those of the last few w’eeks, and which left a ‘fair margin of profit for fattening with the prices ruling for yesterday’s fat lambs. FAT SHEEP.—The yarding was one of the largest and of the best quality seen at Wall acetown for some time, and all classes cleared at auction at prices on a par with, and in some cases, above those ruling in Southland for some time. Some extra heavyweight lambs from the Tuatapere district brought up to 39/-. MUTTON. —Best heavyweight wethers realised from 54d to 6-Ad per lb; freezing wethers about 6jd per lb; heavy ewes, 4d to per lb; freezing ewes, 44d to 5d per lb; freezing lambs brought about 9-|d.

STORE SHEEP.—4, 6 and 8-tooth ewes up to 30/-; failing-mouth ewes, 16/- to 19/-; good rape lambs up to 24/-; medium to good, 18/- to 21/-; small sorts, 8/- to 12/-.

STORE CATTLE.—Three and 4-year-old forward bullocks up to £7; 2 and 3-year-old steers, £4 10/- to £6; yearlings up to 50/-; calves, 20/- to 35/-; good dairy cows up to £11; piedium to good, £6 to £B. CANTERBURY MARKETS. (Per United Press Association). CHRISTCHURCH, February 20. Oats are firmer than last week, and may be quoted up to 2/9 at country stations for Gartons. A few sales of an exceptionally good sample have taken place up to 2/11. Chaff.—Very firm for good oatensheaf, and to-day’s sales include up to £5 per ton, at handy stations, for best quality. Quotations are £4 15/- per ton. Reports from the Peninsula are that the cocksfoot crop will be lighter than usual, consequently growers are holding firmly. Quotations are up to sjd at the Bays. White clover is in request at 1/- to 1/3 at country stations.

There is no cowgrass on offer, so far, but nominal quotations are from 9d to lOd. Ryegrass is in strong request, with values unaltered. The potato market is inclined to strengthen. Reports of blight are very general. MEAT PRODUCER’S BOARD, The New Zealand Meat Producers’ Board has to-day received a cable from its London office advising the sale of North Island lamb “on hooks” Smithfield at thirteen pence per pound and Down lambs at fourteen pence per pound. GRAIN AND PRODUCE REPORT. Messrs D&lgety and Co. Ltd., report as follows: Oats: The market is quieter and the demand has eased off. We quote: A Gartons 2/10 to 2/11; B Gartons 2/8; undergrade from 2/- per bushel, sacks extra. Potatoes: Supplies have slackened off somewhat since last report. Best tables are realising £6 15/- per ton. Chaff: There has been little change in this market. Prime chaff has not been overplentiful and meets with fair inquiry at quotations. We quote: Prime oaten sheaf £5; good to best feed £4 5/- to £4 15/-; inferior £2 15/- per ton, sacks extra. DAIRY PRODUCE. WELLINGTON, February 20. The National Dairy Assqciaticn of New Zealand, Ltd., received the following cablegram from their London Office, dated February 17: — Butter.—Active demand. New Zealand sales, 198/- to 200/?; unsalted, 200/-; Argentine salted, 170/- to 184/-; Australian salted, 190/- to 195/-. Cheese.—Market firm and stocks small. New Zealand white, 126/- to 128/-; coloured, 128/- to 130/-; Canadian wh'te, 128/-; coloured, 132/-. STOCK EXCHANGES. AUCKLAND, February 20. Sale?: Auckland Harbour 5.1 debentures, £99; Bank of New Zealand, 57/3; Union, £l3 17/-; Westport Coal. 35/3; Wilson’s Cement, 22/6; Waihi, 30/9, 31/-.

CHRISTCHURCH, February’ 20. Sales reported: Ward’s Brewery’, £ll 4/(two parcels) ; Goldsbrough mort., £2 4/3. Sales on ’change: Government 1938, £97 5/-; Howard Smith, £2 12/9; New Zealand Refrigerating (10/- paid), 13/10; Electrolytic Zine Rights, 11/3; Electrolytic Zinc (pref, cum div.), £1 11/3. TRAM CO. WOUND UP. AUCKLAND, February 20. Cabled advice from London states that a meeting to confirm the resolution for winding up the Auckland Electric Tram Co. was carried. On the motion of the chairman, Messrs C. G. Tegetmeier and P. M. Rosedale, were appointed liquidators. FLAX INDUSTRY. IN A BAD WAY. PALMERSTON N., February’ 20. The President of the New Zealand Flaxmillers’ Association, Mr A. Seifert, states that millers have been compelled to give up research work into disease resisting flax, and a plant to develop better quality fibre. This course must be taken, because the money cannot be found to continue the work, which was of a most valuable nature and would probably have led to the revival of this important industry. Lately growers mostly had a hard yellow leaf disease, destroying the crops. The price being also low, and the taxation heavy, the burden at present was too much, and two-thirds of the mills in the Manawatu have closed down, rendering idle 600 men who received £120,000 annually. There is no hope of reopening unless a fresh supply of raw material can be grown from disease-resisting flax, and as money cannot be found to cultivate, it looks as if the industry was doomed. GOVERNMENT WOOL STOCKS. LONDON, February 19. (Received February 20, 7.30 p.m) Replying to a question in the House of I Commons, the Hon. Stanley Baldwin said that the Government still held 559,000 bales of wool in London, and other home

ports. The stocks were not held for a high reserve, but were being systematically disposed of. SHARE QUOTATION LONDON, February 19. (Received February 20, 7.35 p.m.) Waihi, 28/1. BRADFORD QUIET. LONDON, February’ 19. (deceived February 20, 7.30 p.m.) Bradford wool prices are unchanged, business being very small. FOREIGN EXCHANGE. LONDON, February 20. (Received February 20, 7.15 p.m.)

STERLING EXCHANGE. NEW YORK, February 19. The sterling exchange rate has reached 470 cents to the £, the highest since 1919.

Par. Feb. 12. Feb. 20. Paris (fr) 25.22$ 75.75 77.95 Berlin (mark) 20.43 135,000 101,000 Stockholm (kr) 18.150 17.33 17.63 Christiania (kr) 18.150 24.97 25.33 Copenhagen (kr) 18.50 24.85 24.43 New York (dol) 4.80 4.684 4.70 Montreal (dol) 4.80 4.736 4.75} Rome (liral 25.22$ 97.8 97.8