COMMERCIAL.

Press, Volume LVII, Issue 17112, 6 April 1921, Page 7

COMMERCIAL.

N.Z. WOOL REALISATION. ALL LOCAL SALES SUSPENDED. (PRXSA ASSOCIATION TELXORAM.} WELLINGTON, April 5. Now Zealand will be represented in the scheme of the British-Australian Wool Realisation Association. Sir A. E. Mabin, of Levin and Co., Wellington, will leave on Thursday for Slel : bourne, and, as tho representative of the wool interests of the Dominion, ho will present New Zealand's c:v=e in regard to the realisation of wool, and urgo that negotiations bo undertaken with the British Government, tho Brit-ish-Australian Wool Realisation Association, and the Wool importers' Association, London, to provide for a limitation or offerings in England aud Australasia, and that efforts be continued to securo representation on the BritishAustralian Wool Realisation Association.

' In tho meantime, all sales scheduled to be held in the Dominion have been cancelled. Somo buyers who have regularly attended the New Zealand sales for years past, and practically made their homes in New Zealand, are leaving for London shortly. The prohibition of private sales of wool as proposed at the recent conference of producers is still under consideration, out the brokers have definitely suspended all auction sales.

The fifth wool sale under the auspices of the Christchurch. Woolbrokers' Association, previously advertised to take place on April 22nd. has been cancelled. No further sales will be held till advised. .

NOTES FROM WELLINGTON. fXnOM A STKCIAL CORKESPONBENT.^ WELLINGTON, April 5. As far as can be ascertained, money continues in short supply, and there are no prospects of any immediate change. • When one looks around Wellington, everything appears to be going on as comfortably as was the case last year, and no oiie would believe that there were any unemployed about. Shopkeepers complain that business is not 'as Brisk as it was, but tho people aypear to be spending money as usual oil pleasures. There is a growing anxiety as regnrds coal, owing to the aggressive attitude displayed by the coal-miners. It i.s felt that the men here will follow the -example of the British miners and strike if £heir absurd demands are mot conceded. There appears to be wme difficulty in getting coal from Newcastle, and "this is adding to the anxiety. . The probability is tibat tho retail ; prico of butter will be maintained at 2s Sd per lb.. The value of butter is declining in importing countries, and it cannot be held up liere. It cannot be said that the people are getting the benefit of the recent fall in the values of livestock. Suburban butchers are quoting afoout the same prices is were current about :six months ago, while restaurant charges have not 'altered. Tlie Prices Investigation Tribunal talks about negotiating with the different sections to iuwe prioes reduced.

TTMBEK KECHJLA.TIONS. (SPECIAL HO "ITCE rKESS;") PtJNEDIN, April 5. Tb& "New Zealand Graisette" regulations for tine control of the timber industry, as contained in the Qrder-in-Council, axe gwt viewed favourably by some local timber merchants. They are regarded as unnecessary, vexatious, and calculated to increase the cost bf timber. One merchant characterised tho proposal to license timber niercnante «w absurd. ""What possible good can such -» proposal aooomplisuF" lie said. *lt has been proved in the past that this sort of interference does no good, it adds to the .cost of .commodities, and possibly only Jcaeps .somebody in a -Government job. It is. about time tho business concerns of the Dominion were freed from mterferenoe toy people who Uaavr nothing of the various industries or tho difficulties of carrying ton under present conditions. If it served any useful purpose, •exception would not be taken, but wnen it simply means increasing costs and performing (unnecessary work, the whole business' is worse than ridiculous. After licensing timber merchants it -will be interesting to see •what and who will come under red'tape next."

HEW ZEALAND LAMB. . (By C»W*—P*6b» iaeociatiDii—Oopyright.) {Australian and. H.'/l. Cable Association.) . LONDON, Apial Mr Arthur Kidman, the "Cattle, King," in ah interview, enid that" buyers were mostly disinclined to purchase Hew Zealand laml> cm a forward basis. The general impression was that prices would be canaiderably lower within three or four months. Already almost half a million carcases had arrrped, reshipped from the United States, and a further 275,000 would bo arriving within a month. These were all indelibly stamped "prime parts" by the United* States authorities., rendering them difficult to retail here. METALS. " LONDON, April 4. Tin—Stocks, 15,761 tons; on epot, 1818 tons; afloat, 685 tons; deliveries last month, 1748 tons. (Received April nth, 10,10 pjn.) LONDON, Anril 4, Copper—Spot £6B 2» fid, forward -£G7 12a 64. Lead—Spot £l9 7s 6d, forward £l9 15s. Spelter—Spot £24, forward £25 10». Tin—Spot £154 2» 6d, forward £157 sa. Sitver—33Jd per ounce.

SHAHES. (Received April Eth, G.a.jajn.) LONDOSTAprU 4. P. wad O. (def.)—Buyers £320, sellers £340. Talisman —Buyers Ss 6d, tellers 6b. Mount Lyell-?Buyerß 13s, sellers ISa 6d.

FOREIGN EXCHANGE BATES. LONDON", Iprit 4. ' The foreign exchange rates on London afford the following-comparison:— Par. Mac. 81. Apl. 4. Paris (fr.) .. 23.222 d 5.87, 65.93 Christiariia (kr.) -.18.159 24.86 24.38 Stockholm (jcr.) .. 18.159 16.80" 16.70 Montreal (dol.) ..1 4.6G 4.43 4.42 New York (dol.) .. • 4.86 3.92J B.Bo* Yokohama (yen) .. 24J 29id 291 d Hong Kong (doL) .. 33J 28& d 28Jd Berlin (mark) .. 20.43 246 042 Calcutta, (rpe.) 10 to gold sov. 15id lojd

BURNS, PHILP SOUTH SEA CO., LTD. (Received April 6th, 7.55 pop.) SUVA, April 5. Tho first annual meeting of shareholders of the Burns, Philp South Sea Company, Ltd., was held at the head office, Suva, to-day. The report and balance-sheet, which were adopted, showed a net profit of £102,845. A dividend of 10 per oent. on the paid-up capital of £760,000 was declared, and £20,000 carried to reserve. The report showed that the company was strongly established throughout tho Pacific. THE MAEKET 70S HIDES. (special to "the press.") AUCKLAND, April 6. A particularly dull period has boon reached ia the local skin and hide,market. The last two sales, one of which was set. down for to-day, were abandoned through absence of demand. Referring to tho bids market to-day, an expert stated that there was now practically no sale for hides except for an odd picked line. There was still a considerable number of stole hides in store that had been held over from March of last year, when the market was very high. As much as 2s per lb could have been obtained then for the best quality hides, but keening them so long had caused- them to deteriorate, and they were now practically valueless. This experience, ha said, was not confined to Auckland. People in other centres who hod held hides when the market began to drop last year had suffned samilar- Xoases. Tlie apiniati wo« «x----preesed, that this was largely due to tho

holdetd not being in touch with hid* Tata** in the world markets. It was suggested thai the inclusion of hides in the High Commitfioncr's weekly report would bo of asiistance to producers and dealers* Latest report* from the United Kingdom, America, and Australia, indicato a continued weakening of values. Tho opinion it expressed by authoritative journals that the low prices now bcinjr paid for hides will form tho basis of the future values of leatiiei. With tho present chaotic condition* throughout tho world, it is anticipated that a rits in prices is much further away than at Erst appeared when the declino in tho market commenced.

OTAGO BAM AXD EWE FAIR. (rSESS ASSOCIATION TELEGRAM.) DUXEDIX, April S. The annual ram and ewe fair wa» held today. Tho- attendance of buyers and spectators exceeded 300. There was a i*ir selection of the various breeds, but i»o Koww or Lincoln* wore forward. The qualify on tho v.-hole was very fair. Xo 'big price* wero secured, but the dehiand was better than anticipated, a few stud sheep were offorcd, and no exceptional prices were rccortJed. Two stud Co.-rio.-kk> ranis from the New Zealand ' and Australian Land Comp.-vny'a Hoeraki Estate made 25 and 26 guineas respectively. The best of the «tud Border Leicester iao>» j raado 17grs to 23g«, and w<e:c sold on account of Murray Bro.«. IClydevnle) and Thomas j lio.chhcad (To Houkn) resp«:tiT*ly. lfcrarwy ] Marsh ra.ms made -Jsry to lOJps, flock Border ; Lciccsters iJgs to Slcs, Roraney flock r»n>» |{Ss to 4?s, and Corricdale flock rams up ti> j Sge. this fijrure being obtained for eome, ani- j roals penned by J. A. Johnstone, BtuAey | I'ark. In a general way buyers were <ii*- i criminating, and stood off anything lacking j tiloom and carrying wool at all coarse The j demand on the whole for flock sheep may j br. deemed better than was the case last j. year, when, sheep were penned far in execs* of buyers' Teqnironiciits. and thtti in spit* of "J 1-rivato und dispersal solos which, have taken f place recently. }:

HEREFORDS FOR XATAL. J (PIUKS ASSOCIATION TXLKHAU.) I FEILDIXG, April S. ] Messrs Evans and Miller, representing f Xrrtal fanning interests, who were in Feild- I -in;; to-day, purchased from Mr Ernest Short |, fonr yearling- Hereford bulls and five heifors, a and from Mr Frank Moore, of K«i Iwi. four i heifors. They stated that the beef industry jj was advancing in Xatal, which was jtookingto Xen- Zealand for stud Hereford*. Thero promised to be a big development in this r trade. •

VITICULTURE. IMPOHEAXCE TO .AUSTBAIJA. That tho .scientific development of vrticol(nua in 'Atistrii.fi.l in of vital importance *» the future welfare 6{ tho CommomvoilUi it tho firm conviction of Mr David Masterton, of Vahjrunynh,. Victoria, the prescient of t'jc Federal Vit'culhiral Council of Australia. "It can be truthfully snid," remarked Mr MasWton recently, "tliat franc* today will largely depend, as she df.l in 1870, on Uuti products of her vineyards to liquidate her u»-.; Uoiiul debts. In this country we hevo « {treat •national, debt -to liquidate. It can W tlono more easily by •the intense culture ofj tho foil .Muvn by any other moan*. There is no form of intense culture which, Dated <m an average of years, works out better than vinefgrowing. "■AlroaJy the development of Tiiticultnrw here «ud in other States hi*'done urach to assist in the repatriation of .returned soldiers. In the 'Hurrumbidgeo area over *I9OO attw were planted in vines last, upcnff, mainly by returned soldiprs. Victoria is srvrnß «*ery encouragement to 'tho settlement of soldiers in viticulture. A eptoM *emmit» tee appointed by the Victorian Government reporter! strongly in favour of "the -eerUsamTffl of soldiers in the lUitlierßlon -area, «a9jl large; number of soldier* have* also 4MB asw tied in the irrigation urea at Bed tSfffa, <■ few miles from Mildura, lied Cliffs Iwal been one of the most micorasrtfl «tt«M|Jt«l

mndo in the real repatiiattion of tbldim, SttA thocro is no industry that compares culture for Hie settlement ol eoldiew on<euall areas." "One great point in rejrard to Atttndhm viticulture is the expansion of the' «xpnri trade. It *wou]o bo 'lird to t*y *xa*fQy what fhe- potentialities -of this trade really an, A| ithc present moment the wine trade, in Manx ■man with .every other trade in the OUJOoMf try, is temporarily depressed, Hie Battti public, 'however, oftcr many «w' "UptliaeiW of the aelativo merits of wine* front «tIH countries, has formed such « Ugh, upfauoa 41 ■our Australian winee that a great wgiamfea of tho Australian trade- is «smt»d «• Sttetl ne tho financial position becomes .normal." TEE INDIAN~ixCHAROK. ■ j Those who seek a formula for th% stabiS* tion of exchttrrges appav«vU,* tmrioes: 4M fact that an experimcirt in this direothm 4ml already been made in respect <n" "Q» XbttkM •rupee. Writing on the subject YMflrtay, W Claude H. HiD •«&ye.--»A factor wMet-i«i ttibuted to the abnorrAl slit til 13»,T»# in 1919 and early in 1090 vae Hie cowpani tive smullness of the import buglnsH that period. When tho rite reached ti»4N -traordirmry fiifuro' of As lOd, and •*» Si Ojfl the Governmoht of Indi», tetihf IHMMI W advice of tho Currency CommiMkn, %4MjH to stabilise exchange at 3i. topoitew liw| encouracod by. this action to kope Ih»t iWH might be a measure of fit tvattftlH noon future oontraot*, and <m flj|W*> !■ wHch the rate was fixed Wis lUtiraßfM preat stimulus to thi lau>ort DtsdMaal Events aavo falaißxl the hopea IwUi «S"lmQ Ooverament o{ India (of wUcb I trai ft ttHMIH ber, ani have my share of wmfcttiihßitjr) -WJJH of the importers. The latter **»• inAeaJ MH currtd eMonnone keees, eompand tho guiDa of an «arlier date an JMfUtfwitjW aad it it oertain that a section of ifae; -MH well-informed members of'the- Indiaa, ttapljtW

public regard themselves a* luffing iMtmH Idum through the' failure of ttat OotfijM ment's currency policy. . It it, iaeerd, Mft'lifH much to say thai. the importer* •» Tfln-Wll to meet the Ideft incurrod ud tMI'.'WH alternative to the repudiation uMA • jlfeiiM ri-jhtly -criticised is ,for titan, to |» "Jsfl| liquidation . forthwith. B«eh • * pHNrffml would, however, entail even mere ■ottot* W»H to tho exporters from Britain. ,'ifl GERMAN COMjmPvCTAL An interesting exposure of Ooraa&>fettliHj mercial methods, hae been jnadoat W*liibtiH| ton by the- president of «. dwtnktl><QßagijW manufacturing bromine and OthTjyuwfjm not derived: «fwta coal ttr. TUi oraciilH|Mfl peared before the Wan and Hesjw Oo»wfflWJ tee of the House of BeaMtMßttttwa to'jMl for a. reduction of the duties- on Mo VtOnffiSl to prevent German competition. Ho told MH committee that before the war n* entered nil German market for the aale ot bromine, •jjjifl at one time had a good.trade there, alUtOwlfl competition was keen add profit* low. fm| day a German came to his work* in lUftMfHfl and «aid to him: "I hive Mm* ben to'tjHJ yon to do one of two 'thing*. Get otttfflfl Germany, or we will pat yon oat of batfmmm in tlie United State*. "We have in OtttftttjHJ what we call the 'Yellow Dot **B&'± : mM which the manufacturer contributes MsJsmHl and the Government tbe otlier haU. -W*liflffl| in that fond at the promt tin* U,MtyMl dollars, and we will put yon ont of bwfjiHJ in the United Slate* if yon do not mUI of business in Germany." The AmdnHfJ laughed, end told him to go homo tad do MH worst, but a few wetks later the pitaJHJ bromine in the United States drooped cento below its coat of jnajrafaotom

NEXT SEASON'S 00TX02T CftOfr.gMi The proposal of (ho American ootfofl era to reduce tbo acrwags tmdsr one-half next season. h*Ji assumed » fSB ecrkma aspect in tho light of a- npMt the British. Consul fct St. Louis, from which it appears thmt th« DftokmSH tiho Southern State*, woo at* I r IIV Hr > tho handling of the oommodSy, in ing the movement, and intend to ntvwlMH credit of thoio who fail to arrangement as regards the cwl iniuMVjHS acreage. It i» anticipated that «ttOB SVIM is likely to provo effective in enawtißf ABM tended reduction, in which caso H UnWMU able that the resulting dimiantioß •£&■■ ciop will bring tbo availableton much below tho world's Since this announcement, report* b*W-MMM current of a. proposal in Egypl to *on* ;■■ largo syndicate for the purptw of «»■ over the stock* of cotton, with tb» holding them until an improvemsmi WH I'lace in tho market. Ths "British »W<U Review" remark* that, a* tho aMBK capital nocesrary to finance- an opsratioft VH tlun magnitirJo would be W K>*ft».j*f|H unlikely that it will bo found BTMtfeab» «■ carry tho project into effect, ''JSH TRADE IN MANCHESTER. , JbH Although the depression in Hie UaiMifctjHH cotton trade still teem h**Jj§lfl| a marked improvement in the ton* 6*<S|H market since the commencement of Its* and the feeling is gaining ground wont cf the Mtustfon has now b«M negotiated. Tbo initsbtilty in pric» <* JE9 raw material ia acting as a deterrent **'KH resumption of trade to any large extant. as a consequence, the demand for cfatßjHH yarn remains inactive* In some however, particularly Oldham, spirmsrswH more hopeful of an early revival. tinunnoe of ifeort time work ia U» toJUj MM contributed (o the easier position. B*jflHJ trade houses have lately sbown S> <*WJH disposition to openite, but the mand is still small. Tbo recovery *f«H Indian market is retarded by tbo Mfljfl depreciation of the exehang*, altttoursiJMj larger volume of enquiry is now heiH v|H with. Trade with China, ia stil! kbsU, MM no improvement is looked for Until spans, when it is expected that lb«* fiHJ bo 4ux urges* need, of Tirtltrii'mi g<oo4«;**6^H

,to tie depletion of stocks. On the whole there is * greater confidence in She future cou£e of prices, and, whijst cautiaas buying is anticipated for sometime to come, a tendoncy to firmer values is evident.

POTATO GROWERS' ASSOCIATION. A" very well attended meeting of growers Svas held at Ladbrooks Hall on Monday evening. Growers were present rrom Temfoeton, PrebWeton, and Lincoln. Representaitives from Spnngston requested that a eimi-aat-meeting shsuld be held at Spnngston next Knesday when they anticipated that a good, Wrong branch would be formed. A. very [keen and sympathetic interest was laken by Ml wesent. Some twenty-five new mem-RfexaTVha-ve been enrolled in the Ladbrcoks gErtraet during the last week. A meeting from various parts of the Soutli Psland -will be hold on Friday.

f. dANTBEBTmY MARKETS. \" ■ '' Tuesday s, ' Evening. ! Very litile business has been done during Ihe week.- MilleTS still pursue their policy kf ibnying from hand to month as far as wheat it concerned, none of them being disposed to carry much in stock. Business In oats continues to be quiet, as farmers rn Canterbury piefer to keep their stuff in stack*, rather than accept the prices whaoh iFi» reported »ro being taken by Southland farmers for oats that are, generally speaktafc<.,of a higher grade than those offering IwW*** Partridgo -peas~*we showing signs of life, export l trade acc*untingr,for this. % A few. Bales of, linseed'*s & JOs ore reported during thfl week, but tihe over-supply of Argentine seed, f followed by the drop'in -yalue, has had Its effect locally. • It'is considered HjaVtinWe is far monf linseed in New Zealand |t the'present tune than can be used, unless a demand sots In from Australia. Orders toe beginning to come in for potatoes from EfolTprth Island, although the prices are, of Bourse, low. in sympathy with the market generally. s Auckland and "Wellington are brith sending in orders. More produce could be ■sent to Auckland if there were better shipping, facilities A* present* Onions are hard foiiejl.' ' There » usually a good demand bom Auckland at this time of year, but it &ould,"appe»r that enough has been grown hf*th«it province to satisfy its own Wquireiaonittl so far as tho season has gone. The fact'-tlhat v there is no export of onions this tear from Auckland to Vancouver has also id be 1 conardered-dn this connexion. r I '< The"* following are\ quotations for new Season's produce, to be paid to farmers at lountry stations, iree of> commission, Backs Stra, except 'where otherwise stated:— KMifiing Wheat—Accotding' to Government feoes: Tuscan ( 7s 6d fco.b., Hunters, *7s id; 'Poarl,tßs. * , . sQats—bartons, Is lid Algerians, Is (dtO'lsßd. * obaflV£2 15s to £3. * Perennial:; Byegrtas—2fl 6d to 8s 3d. Italian RyegtMs-Sk fid to Bs. *d to 6d., to *s 3d. \Qnfons-J33 10s., » ( 6d. £26, 75s £2B. to Government price, f.o.b., Lyttelton, .Timaru, and Itamaru. _ 'B»arH-Aecoxding 'to ' Government price, !6'to; £6 10s per ton, acoordmg U> packing, ;<jjb, sottihern ports. to Government price, S?to (£9-108, - according to paoking K f.o.b„ buthern ports. , / If?" 1 MARKET. $M market yesterday, the aiding of fat sheep consisted of 2122 lambs, 08 ewev »nd 1W wethers. Prices were ffll t on, tho'down 1 grade, the top figure for SWlanrbs being 18s Id, as compared with at W» previous sale. Tho drop in Mies '.was. even, more, pronounced, the best ric»-Obtaurtd' being 10s 6d fpr a pen of rime,'.as compared with. 15s 2d at Ore last $&/ were also down about 2s a aad. were out to sell, however, dd only two lots were passed in. The range I prices was as follows -—Prime lambs 17s > 18* "Id,' medium weights 14s 3d to 16s 9d, rimo owes fcs to 10s 6d, medium 8s to 8s lid, rtht sorts. 6s 8d to 6s lOd, best wethers 18s f"to 19» 6d, others 14s 9d to 16 Sd. The iks made werei— i ,Fftt Lambs-Tor A. P. Pulley, 91 at 17s )di-H. Mohrtons, 180 at 15s 4d; J. Joyce, !o f *t-16s;*M, Bailey, 36 at 17s,lid; A. P. Sttott. 21 at 189 Id; G. Barker, 54 at 15s Hs^v 1 . Morris,.2o ai 185,,92 at 15s lid; teodtßros,, 29 at 17a 6d; Ji Inch, 92 at 17s K£p, ffanna, 74 at 17s 3d; C. Bailey, 260 £fc» 6di »B Collie, 38 at 16s 9d; 48 at 1T»; SWalhs,vl6 at 16s lOd; J.-Brady, 45 at 15s; f-OtOtt 06 a.t 15s 3d; F. Croft, 196 at 16s 'fiwas-Oarboy Brosi, 27 at 10s 6d; J. Rob--sßn' J B7 at 1 9s sd; J. Wallis, IS st 6s 3d, J. Joyce, 11 at 9s; B. Hanna, Croft, 6 at 8s ldf clients, 32 at 'Bd.-ST'a'fc 8s 4d. 3pat>.W««iors-J. Brady, 8 at 14s 9d, 3 at s; To 'at 19s; Wood Bros., 39 at 18s Id; 61 aged-nit 19s ldi !a£M\Sheep—There was an entry of 3973. iSisaJes made wens at very low figures, and IM'haKc'nbe yardinsr was passed — : rhe best as *sw:—lß4 bafibred two-tooth owes .at «' 60 two-tooth, three-quarterbreas at 16s sound-mouth ewes.Ss 9d-to 8a up to 13s, and aged '3odte4s,'>3amb3 9s7dtolßs. akttiorJFoTtr iwd wen » y*rf ß(J »"- b v t verT . *' <" a :

few sale 3 were made. Springing heifers 6oH tit £l3 to £l3 15s, empty cows £3 7s 6d to £4 10s, calves 10s to 255, and bulls £2 10s to £3 15s. ' . Pigs—About 300 wore disposed of, c baconers making £4 2s to £5 2s; porkers £2 10s to £3 ss, stores 25a to 50s, and small pigs 5s to 15s. . ■ - In the poultry department roosters Bold at 10s a couple, hena 4s, pullets' 4a 6d", ducks 4s 6d, and. geese Bs. In the produce yards dhickwheat sold at 6s a bushel, oats 2s 6d, Oape barley 6s 6d, batsheef chaff 5s 6d a. eiack, straw chaff 35,. potatoes 12s, apples 4s a. case, tomatoeß 8a to 4s a case, onions Is a string, marrows 6d each.

ASHBURTON MARKET. I The entry of fat steep at the Ashburton .yards yesterday comprised 207 ewes, 93 wethers, and 2337 lambs. There was a good attendance, and the general tone of the market showed no improvement on recent values. There were a lot of good lambs forward, which sold at an all-round average of s£d per lb. Ewes mado 7a lOd to 12s 6d, wethers 14s 6d to 18s 6d, and lambs 10s 6d to 18» 3d. The principal sales were : Fat ewes—lo at 11a Id, 16 at 7a lOd, 14 at 12s 6d, 26 at 9s '4d, 23 at 10s„ 9 at 7e lOd, 14 at 8b '4d, 12 at 10a lid, 10 at 10s, 14 at 9s lid, 15 at 10s Si, 14 at 10s 2d;. Fat "Wethers—ll* at 18s 6d, 10 at 17s, 14e at 18s, 14 at 18a 2d, 17 at 17s, 7 at 7s Id. Fat Lambs—ll at 10s 6d, 86 at 15s" Bd, 32 at 15s lOd, 28 at 12s,' 36 at 16s Bd, 61 at 16s Id, 23 at 186 10d, 44 at 15s 9d, 49 at 17s, 47 atfT.6B H 138 at 16s 4d, 125 at 16s 2d, 71 at' 18s, 63 at 18s 3d, 60 at 17s 7d, 87 at 16s 6d, 329 at 17s, Bd, 110 at ,16a 6d, 54 at 16s Id, 211 at 16s 10d, 98' at 15a 3d, 54 at- </ 17s 3d, 148 at 36s lid, 141 at 16s lid, 72 at 17s 7d. Store Shoep—The yarding totalled 4651, put of which '847 -'; were' passed, at auction. It was a dragging sale, and- the prices realised were about on a par with the previous sale. The principal sales were: —324 mixed sex "crossbred lambs at 11a 4d, 69 mixed sex crossbred lambs at ss, 141. two-tooth crossbred wethers at 9s, 92 mixed, sex crossbred lambs at'ss Id, 85 fouT and six-tooth three-quarter->Nred ewes at 17s 3d; 80 half bred wether lambß at 33 Bd, 100 six and eight-tooth halfbred ewes at 9s, 28 failing-mouth Merino ewes at Is 6d, 119 failing-mouth ewes at 2a 3d, 51 eoTtnd, and failang j mouth halfbred ewes vat 4s 2d,.B2;twOj:four, six, and eight-tooth halfbred 'ewes' at ' 16s 6d, : 290 halfbred 'mixed 1 sex lambot.7V.Btl, 87 sound-mouth halfbred ewes at &7d, 8a mixed sex halfbred lambs'at 4s lOd, '3o' failing-mouth 'crossbred ewes at' 6s 6d, "200»mixed sex crossbred lambs at 8s 3d, 178 mixed eex crossbred lambs at S* 4d, 324 .mixed sex crossbred lambs at lis 4<3, 69 mixed sex crossbred lambs at 6a, '234 Romney cross wethers at 12s, 450 eix and, eight-tooth halfbred ewes at 12s, 197 twotooth halfbred ewes at lSs 4d, 109 eix and eight-tooth . crossbred ewes at 10s 6d, 170 four, six, and eight-tooth crossbred ewes at ,5a 6d 109 three-auorterbrett mixed eex lambs at lis sdj 64 three-quartobred mixed- sex lambs' at lis. '.''•".' _, : : EGG MARKET. "" ', . Messrs Harris Bros, report that at the usual weekly sale of, Feather brand teed, fresh, eggs,- on behalf,of the Canterbury Egg Farmers' Co-operative Association, the market took a sharp rise in comparison to l««t week's prices, "owing to falling off of supplies. TheTe- was a. large,! attendance of buyers, and bidding for the several v lote was exceptionally keen. All lots were "quickly eold at the following prices:—Hen eggs, first grade 3s 2d, second grade 8s Id; duck eggs, 3s Id. , 6.

OHRISTCHiTRCH STOCK ' EXCHANGE. v - YESTERDAY'S TRANSACTIONS. Sale reported:—N,Z. Government 4i per cent. 'Bonds, 1939, £BO, . Latest quotations:—:

AUCKLAND STOCK EXCHANGE. (SPKCIAI, TO "THE PBESS.") AtTCKLAND, April 5. Quotations: —Bank of Australasia, buyers £81; National Bank; sellers £5 10s, buyers £5 6s; Bank of New Zealand, sellers £2 5s 6d, buyers £2 4s 6d; Union Bank of Australia, sellers £ll 12s, buyers £ll 6s; NewZealand Insurance, sellers £1 5s 9d, buyers JBi ,6s v3d,;'^South^British-Insurance, sellers £1 ife' 6i,' buyers £l 8s 6d; New Zealand and" River .Plate, sellers 18s 6d, buyers 17s 6d; Loan and Mercantile, buyers £BS; Huddart-

Parker (ord.), Sellers £2 2a 6d, buyers £2 Is 6(1: P. and 0. (deferred), sellers £335; Kaiapoi Woollen (ord.), sellers £1 7s 6d; Talisman Consolidated, sellers 4s 6d, buyers 3s 6d; Waihi, sellers £1 8s 6d, buyers £1 6s 9d; V/aihi Grand Junction, sellers 7s 6d, buyera 6s; Mount Lvell, sellers 13s 6d; Uew Zealand War Loan, 1930, at 4J per cent., sellers £80; New Zealand War Loan, 1938, at 4i per cent., sellers £3O, buyers £79; New Zealand War Loan, 1939, at 4J per cent., sellers £BO ss, buyers £79.

WELLINGTON STOCK EXCHANGE. . (SPECIAL TO "THE PBESS.") WELLINGTON, April 5. The market keeps firm for practically all shares. Inscribed stocks, 1938, are weaker, with buyers at £7B 10s. Bank of New Zealand have advanced again, buyers offering 44s 6d. Union Bank shares are higher by Se, buyers now offering £ll Bs. Huddart-Parker shares are higher by 6d. Quotations: Stock, 1939, sellers £BO 10s; Stock, 1938, buyers £7B Ks, sellers £79 15s; Stock and Bond 3, 1927, buyers £88; Bank of New South Wales, sellers £3l; Bank of New Zealand, buyers 44s 6d, sellers 45e 6d; Union Bank, buyers £ll 8a; Abraham and Williams, sellers £5; Equitable Building, £9 10s; National Insurance, sellers 565; South British, buyers 29s 3d, sellers 29s 6d; New Zealand Eeftigerating (10s paid), buyers 15s; Meat Export (72a Gd paid), sellers 775; Hud-<Tart-7arker (ordinary), buyers 41s 6d, sellers* 42s 6d; Union Steam, sellers 19s; Kelburni TTamway (ordinary), sellers 235; Kaiapoi Woollen (preference), sellers 25a; Wellington Woollen (ordinary), sellers £10; Wellington Woollen (preference), sellers £8; Westport Coal, eellera 27s 6d; Waipa, buyers 14s 6d; Leyland-O'Brien. buyers 30s, sellers 32s 6d; C. M. Banks (ordinary), sellers 265; Colonial Sugar (Australian register), buyers £22 15s; ShnTland and Co., sellers 22s 9d; Wairaraps. rarapa Facmere' (preference), sellers 183; Blackwater Mines, sellers 8s 3d; Waihi, buyicrs 27e 3d; Grand juneti'on, sellers 7s 6d.

'.■,■'..' " . .' Buyers. Sellers. £ s.d. £ e. d. DEBENTURES— N/.Z. Govt. <i per cent: Jnao., 1938 ■ .. 7910 0 80 10 0 N.Z. Govt. 6 per cent. Bonds, 192? 88' 0 0 ■[ N*.Z. Govt, .fij per oent. ' Ineo./: 1933 88 15 0 _ N.Z. Govt. 54 per cent. ■ ) Bonds, 1 1938 '•>... 88 15 0 .89 10 0 BANKS- v National,of N:Z. 5 11 0 • New South Wales 80 7 6 30 15 0 Union of Australia .. 11 2 6 ' INSURANCE— National ... 2 14 o: y _ South BritiSh 1 9 6' -• ■ ■ ' Standard .. .. 2 3 6 _ LOAN AND AGENCY- ■ Dalgety and Co. .— 10.15 0 Goldsbrough Mort. (Melb.) .— 1 10 0 SHIPPING-Huddirt-Parfcer ■. __ 2 2 9 FROZEN MEAT— . N.Z.. Refrigerating (£1 paid) :\. ;. — 115 0 N.Z. Refrigerating . (10s paid) ... ' .. OH 6 0 16 0 COAL— -*! Westport-Stoektoii (8 per ' cent.'non-oum pref.) — 0 10 0 •••«... , Kaiapoi (£1 paid) .. — 17 0 BREWERIES— v Manning 8 10 0' 3 13 0 MISCELLANEOUS— ifepd.). — 0 6 0 N.Z. Drug Co. (cumdiv.) ■ . — 2 19 0 N.Z. Farmers' Co-op. V {£2 paid) — 2 0 0 N.Z. -Farmers' Go-op. (£5 paid) .. • .. —' *6 0 0