LIVE STOCK SALES.

Dominion, Volume 4, Issue 995, 9 December 1910, Page 8

LIVE STOCK SALES.

-Messrs. Dalgcty and Co., Ltd., report:"A special sale'of dairy cows, etc., was held by. us on account of Mr. P. 0. Pcdersen at Eiripiri yesterday, at which there was. a largo attendance of 'buyors."" The cows were a choice lot, and were keenly competed for, prices ranging from £6 7s. 6d. to £13 10s. Tho average was £11 6s. 4d., which, considering th.it the milking season is-half <>re'r, is exceptionallyihigh,-and' practically constitutes a" record' for this district; A trap mare mode £21; spring cart, £16. Cane and sundries sold at high rates. .A large number of cows, etc., on other vendors' accounts were offered, the cows malting from £4 ICs. to £10. j : Messrs'. Dalgoty and: Co., Ltd. (Palm'erstonNorth branch) report':—At our 'Marton sale' on December 6 only a small entry of sheep came forward. Quotations:—2-tooth wethers', (small), to lis. lid.; 2-tooth'ewes, to 14s. ■ Dalgety and Co., Ltd., report-.— At our Palrcerston sale yesterday a very fair entry, of cattle sold at tho following prices '.—Bulls. £3 to £5; weanets.' £1; cows and calves, £4; empty cows. £3 19s. 6d.: 3-year-61d bullocks, £5 17s. 6d.; empty heifers. £4 25.: backward' springing heifers, £5 6s. 4d.; forward cows. £4 45.: fat cows.' £5 7s.;' Jersey cross 15-moriths heifers: £5 Is.; JeTscy-Eolstcin 15-months heifers, £5155.

Messrs. Abraham and Williams, Ltd., re-port:^-At our Palmerston North..Said, yesterday a pood entry of cattle came forward. Bidding for all 'classes', was keen, and a clearance was made at satisfactory, prices. Only a small yarding of sheep was offered, and sales were'effected at the following quotations:—Mixed 2-Vooths,. Us. 5d.; 2-tooth wethers, lis. 6d.; woolly hoggets, 145.; ewes and lambs (all counted), 95.;.'3year bullocks,' £6 4s. i&. to £6 25.;. 2-year steers, £4 7s. 6d.; 18-month steers. £3 Us. to £3 lis.: yearling steers. £2 13s. 6d. to £3 45.: 'yearling to la-months grade Jersey heifers.- £4 10s.; yearling heifers, £3 4s. 6d. to £3 12s. 6d. • ■•

. Messrs. Abraham and Williams. Ltd., report on their Marton .sale, held this week, as . yarded- over 2000. .sheep, and have to report a total clearance, with the'exception of ono pcii of ewes and ■lambs. A small yarding of cattle sold at late rates. We quote:—Sheen: 2-tooth wethers, 12s. 3d.,' 12s. Bd.; small wethers. 10s. 10d.; 2-tooth cwes,.!3s. Bd.i smsll mixed 2-tooths. ,Bs. :6d., ,13s. 3d.: mixed woolly sheep, 175.'8 d.; ewes and lambs. 14s. 6d;, 16s. Bd.; fat ewes, woolly, 16s. 3d.; shorn do., 12a. lid.; fat wethers, 15s. 2d., 15s. Bd. Cattle: Empty cows. £2 lis.: £3; forward cows, £4 Is. to £4.135.; yearling steers, £2 195.; bulls, £1 12s. 6d., £2 155., £5 10s.

AUCKLAND STOCK PEICES. . IBy Telegraph.—Special Correspondent.), s , Auckland, December 3. ■ Messrs. Buckland- and Sons report:—On Wednesday at our Wcstfield fat stock market beef totalled 439 head, and was all of excellent quality. There was a steady demand throughout,.. the previous week's values being sustained. Ox beef sold from -£1 3s. to £l'ss: per 10Mb:; and. cow and heifer do. from 19s. to. £1 3s. Steers ranged in price from .£7 2s. 6d. to £13 -2s. 6d.; cows, £4 6s. to £8 10s. Fat and young calves were again short of requirements,, and sold at high figures, especially choice suckers. Heavy sold at -from £2 10s. to £1 3s:; medium, £1 16s. ■ to' £2 10s.; medium - to light, 15s. to £1 10s.; small, 6s. to 125.; 65 sold. There-was an average entry of-fat sheep,I for- which competition: was-less keen than on tho previous week, and prices receded' from last quotations. Heavy wethers, 18s. 6d. to £1; medium. 15s. to 17s. 6d.; best ewes, 15s. to 17s. 6d.; others, lis. to 14s. 6d.; 1498 sold. The lamb market experienced a.drop of from 2s. to-Js:-: per head; prime heavy, 165." to 17s. 6d.; .'others, 12s. 6d. to 15s.; 1 light and unfinished,' 7s.'.'to■ lis. 3d.603 sold. ■ : ' i There was but a moderate supply of pigs, and little alteration in values. Baconeru made from £1 16s. to £2 135.; large porkers, -£1 9s. to £1 14s.;,lighter..'£1 to £f Bs.weaners, 4s. 6d. to 105.'6 d.; 61 sold. COAiiVI.ERCIAL ITEMS. - INVESTMENT SHAKES; ; There is * fair' inquiry for investment shares, and prices, are:, firm. Yesterday there . were sales,-'of. New. Zealand Paper Mills at 235. 6d.,-and'Whitcombe'and Tombs at £6.65. ;Thc quotations'.wens as. under:— ■'■;" , " ! '""".'.'.'' .'■'. Buyers; 'Sellers Sale 3. - ;'•"'■ ' ■-.- ■>'.:'£ s.d..' £ s. d. Natibnal. Bank ;.:.:..'-5.16 0' ■ 5-17 0 .-. . — N.Z. Loan and -Mer- ■ ; canti!e' ■' .'..'o 10 0 .— — Well. .'Gas (£10) ....19 0 0 — - Well.' Gas (£6 155.) 13 10 0 - - Union Steam 1 16 9 — — Well. Woollen (ord.) 3 13 0 - — Well. Woollen (prof) 2 15 6 .. - . - . Taupiri Coal'-...:...... Id 0 -1.0 6 —- Westport Coal ....;.-■ - -6 13 0 — ■ Leylaud-O'Brien ... 1 6 3 17 0 — Manning and Co. -4 4 0 — — Miramar. Ltd < — . 0. 2 0 . ■ — . N.Z. Con. Dental '.;;'. 1 2 6 1 3 6 ' -, N.Z. Paper Mills ... 13 3 — 13 6 Sharland'stord.)....-, 1 16 —. , — Taranaki Petroleum: 0 8.0 — — ■ faringaimitu Totara ;2. 3 .6 ■ ■ —' :- 'Ward, and .Co. .;..;....5 ..;...—,, : Whitcombe'' and Tombs.. ■;■'— '■' 6 7. 0 .6 6 0

TOULA WOOLS. NEW. ZEALAND. Tho "Financial Times" of November 5 has tho following:—"Mr. Charles 11. Moss, of 57 Courtfioltl Gardens, South Kensington, W., a shareholder in Youla Wools, New Zealand, Ltd., has issued, in. the form of,a circular, a letter which he has addressed to the directors of that company. Mr. Moss, who states that ho ran tho company's mills experimentally at Mastorton, New Zealand, for six mouths ended September last, severely • criticises tho directors, and calls upon them to convene a mooting of-shareholders forthwith. If the meeting is not called by tho directors, Mr. Moss states that one will be requisitioned." ■

DALGETY AND CO. The report of Dalgety and Company, Ltd., for the year ended Juno 3D last, shows that, after providing for bad and doubtful debts, interest on debenture stock and debentures up to June 30, dividend on preference shares, and payment of incometax, there remains to credit of profit and loss account, including the balance brought forward from last year, £267,579. Tho directors recommend a dividend at the rata of 5 per cent, per annum, free of income tax, for the half-year, making 6 per cent, for- the year, and a bonus of 2 per cent, for the year/ free of income tax,- placing £60,000 to reserve fund (thereby raising it to £380,000), applying £<O,CCO to writiny down cost of premises, appropriating £10,000 to staff benevolent fund, and leaving £77,579 to be carried forward. From time to tima surplus funds have been applied to'tho extinction of certain amounts of the four and a half per cent, debenture stock, in all JE1C0.541. and the total of that issue now stands at £519,459.' A good season in Australia and New Zealand gave a record ' wool clip, which realised excellent Sriceß on the whole, while tho dairying inustry has also contributed materially to the general prosperity. Tho low prices which ruled at the date of the last report for frozen lamb and mutton were succeeded by higher quotations, and the figures 6tand at a remunerative level today. Beef, however, is still dull and difficult of sale, with no immediate prospect of improvement.

BANANA PROSPECTS. Mr. C. A. Griffiths, who returned yesterday by the Aorangi from . Earotonga, reports encouragingly on the prospect of obtaining an'ample supply of bananas from the Pacific Islands in the immediate future. Ho emphatically combats the fear, expressed of late, that as a result of tho recent hurricane in.Fiji there is likely to be a serious shortage. Destruction of trees, ho states, cannot in any case cause a shortage for more than one year. In ten montifG from the»time they are placed on •the ground the banana trees attain considerable size, and bear fruit. The hurricane in Fiji did! however, cause a short-age so far as the present season is concerned, and it was with, the object of beating up additional supplies that Mr. Griffiths made a trip to Earotonga. During hie stay of four weeks he visited all parts of tho island. It has an area of 17,000 acres, and a coastal circumfercnco of about'2l miles. There are at present, in round numbers, 200,000 banana plants in bearing on the island. This number is being increased rapidly, and Mr. Griffiths estimates that next season there will be C50.C00 plants on Earotonga. The output next season from tho plantations, he states, depends largely upon the movement of prices in -Nov; Zealand!. .Given a good market, the bananas will"be carefully, cultivated, but.• if prices decline the plants will bo neglected, and the output reduced. The maximum output to bo expected is a total of about 250,000 cases, but if cultivation, for the reason stated, is neglected, the export will amount to only about 150,000 cases. After touching on tho labour troubles, Mr. Griffiths went on to slate that, personally, he regards Earotonga as occupying only a minor place among the islands that produce bananas. This season tho Rarotongan supply 'will servo to tide over the scarcity caused by tho depiction of supplies in Fiji. Ho anticipates, however, that as early as March or April next large supplies will be available- from Fiji. ':.; KAURI. TIMBEIt, COMPANY. • Melbourno papers furnish rather full' details of tho Kauri Timber Company's report and balance-sheet for the yoar ended August 31 last. The net profits are £35,188, as against £41,224 for. .the preceding year; and £69,040 for 1907-8. The.cross profits amounted to £69,323. Management took '£28,255, and depreciation, and repairs £15,140. Tho profit, on the limber business of the company itself therefore' was £25,929; but- as the company received £9559 .as dividends from other companies, aud as fees, the net profit for the year amounted to £35,488. Adding £23,533 to the net profit of £35,488, tho directors had available £59,021. This would have bean amplo to pay tho dividend o! 8 per cent'., which absorbs £46.800, and leave a. fair margin to be carried forward; but tho directors havo thought it advifablo to 'ransfe-r £8000 from the del credoro account to the credit of rront ami loss. In explanation of this transaction, the directors write that, "owinc to the soundness of trado during recent years, we have a large surplus to our del credere fund available for. transfer to profit and loss." So, - after : "removing" £8000. thence, as' stated, they still leave adequate provision for all outstanding accounts. It would bo: interesting to learn exactly tho extent of this nest-egg. The variations in -the accounts :of the last three years are shown by.the following table:—

1908. 1909. 1910/ £ £ £ Capital : 5E5.C00 585,0:0 585.0(10 Due bankers - - 20.962 /Creditors and con- ' tractors ....: 58,488 81.5C2 69.C90 Log reserve account 5,366 ■ 6.3C2 .7,022 Fire and marine insurance funds;.. 60,206 61,249. 62,610 Contingency account 10.CC0 . . 23,104 . , 23,846 'Profit and loss 75,909 -70,333 67.C21 Assets— .:.: . Timber properties. -. etc. .: ,510,192 668,710 659.756 -- Sundry debtors 77,730 83,543 85.996 Cash and fixed deposits 35,640 ■ 14,018 ■ 15,623 Payments on account of logs .....: 5,221 8,747 10,915 Consignments, less * drafts ..:... 15,670 1,742 -18.083 Shares ~ 50,982 51,659 49.637 THE FLOATING DOCK ALFONSO PENNA. The arrival is announced at Bio de Janeiro of tho great Brazilian floating dock Alfonso I'eniia, in tow ■ of two tugs. It,is a notable -performance, although, perhaps, sot to bo compared with tho voyage of the Callao floating dock which, some- time ago, was towed from tho Tyne to Peru. Tho dimensions of the Brazilian dock arc, however, much greater, namely, 550 feet in length, and 136 feet in width, while the Callao.dock is only 370 feet long and 94 feet wide:' The Alfonso Pcnna has, besides, a.carrying capacity of 25,000 tons. The floating dock i Dewey, towed from the United States to.the Far. East a.few y_ears. ago, was.4so feet ir. length and IC9 feet in width, so that the Brazilian dock is by far tho largest-of tho three. The following particulars aro to be gathered from the. narrative of' tho voyage. The two tugs, with the dock in tow, started irom. Barrow-in-Furriesa on July. 4 last. The route was via Las Palmas, St. Vincent: and Parahyba, in the neighbourhood of Pcrnambuco. . The dock was brought to anchor at Parahyba, while, the two tugs put in at Pcrnambuco to bunker.' As-re-gards.the.speed developed on the voyage, the'.average rate as far as St. Vincent was DO knots in 24 hours. After that, however, contrary winds had to be contended with right up to Pcrnambuco, and in that part of tho voyage tho average 6peed did not exceed. 53 knots, per. 24 hours. The tuc captains did not expect, in face of the prevailing southerly winds, to finish their task before October 3, but they were fortunate enough to. reach Bio de Janeiro on S-jptember 29.

Customs revenue collected at the port of Wellington yesterday amounted to £2319 Os. 6d. TALLOW SALES. By Telegraph—Press A'ss-jciation-Copyrleht London, December 7. At tho tallow sales 768 casks wore- sold. Mutton, fine, realised 395. (id. per cwt.; medium, 375.; beef, .fine, 335. 6d.; medium, 363. WHEAT. ' By Telegraph—Press Association-Copyright. London, December 7. The American visible supply of wheat is 74,814,000 bushels. Imports increased by 2,479,901 bushcle; exports by 3.575,970 bushels; and re-exports by 7C6.71C bushels. NATIONAL BANK DIVIDEND. By Telegraph-Press Association-Copyright. London, December 7. The National Bank of Hew Zealand has declared a dividend of 12 per cent. , THE METAL MARKETS. Dy Telegraph—Press Assoehuinn-Copyrlb'bl (Itec. Dec. 8, 10.5 p.m.), London, December 8. Copper .-On spot, £58 16s. 3d. per ton; three months, £57 lis. 3d. - Tin—On 6pot, £172 2s. 6d. Lead, £13 3s. 9d. SHEEPSKIN SALES. By Telegraph—Press Association-Copyright. (Bee. Dec. 8. 10.25 p.m.) London, December 8. At tho sheepskins sales an entry of 5850 bales were catalogued. Merinos sold at slightly easier rates, but cross'oreds wcro firm, with prices occasionally against tho buyer. ; Messrs. Dalgety and Co., Ltd., report having received tho following cable from their London .house, dated December 7;—" Sheepskins " sales opened with attendance of buyers good. Merino, par to id. lower; crossbred prices unchanged.".

MELBOURNE HIDE MARKET. By Telegraph—PreEs Association—Copyright.' (Hec. Dec. 8, 11.50 p.m.), Melbourne; December 8. At the hides sales to-day supplies were fair. Kips wero' unchanged, but other kinds were an eighth of a penny per lb. x lower. AUSTRALIAN PRODUCE MARKETS. By Telegraph—l'rcss'Association—Copyright. (Rcc. Dec. 8, 11.50 p.m.) Sydney, December 8. • Flour.—There is a moderate internal trade and prices are unchanged Wheat—A brighter tone prevails, and holders arc more inclined to meet buyers. Shippers arc offering to 3s. 83d. tor parcels, but holders arc wanting from 3s. 9d. to 3s. 91d. Some fair-sized parcels havo been sold at 3s. 9d. • ' . Oats—Tasmanian sparrowbills, 2s. 6d.; giante, 2s. Bd.; Algerian milling. 2s: sd. to 2s. 7d.; feeding, 2s. 3d. Maize, 2s. Bd.; white, 2s. 9d. Barley—Cape. 35.; seed, 3s. 2d. Bran -Pollard, £4 ss. Onions. £7 10s. Potatoes, new, £11; Tasmanian, £11. Butter, 945.t Bacon, 7id. to 7id. .Cheese, 6Jd. ■ Melbourne, December 8. Wheat, 3s. Bjd. to 3s. 9d. Flour, £9. Oats, milling 2s. CJd., feeding Is. lid.. Barley, English malting 4s. 4d., Cape 2s. 2d., feed Is. lid. Maize, 2s. 6Jd. to 2s. 7d. Onions, £3 to £4 IDs. Potatoes, £8 10s. to £9. Bran and pollard, £4 10s. '- Adelaide. December 8. Wheat, 3s. Bd. to Zs. 9d. Flour, £8 to £8 7s. 6d. Bran and pollard, Hid. Algerian oats, 2s. CHRISTCHUECH WOOD SALES. (By Telegraph—Press Association.) Christchurch, December 8. The second wool salo of this season's series commenced to-day, when cataloguea comprising 18,119 bales were submitted. There was a large attendance of buyers representing Home, Continental, American, and local sections of tho trade. Tho offerings included a number of excellent fine wool clips from Fronthill stations. Much of. the Plains wool was very earthy, as was the ease at the November sale, due to tho amount of nor'-west winds experienced this spring. The sale was not quite as animated as the previous one, but this was probably due to buyers having larger selection before them, and thero was not the anxiety to ship by. first availablo steamer as on that occasion. Merino wools sold rather better than in November, a better class of wool being offered, and the local woollen mills representatives competed keenly for it. Good halfbrcds .(-old equally as well as at the previous saleE, and for. super lots the woollen mills wero also active competitors. Crossbred wool of all descriptions did not sell quite so freely, though there was little or no change in the best lots. 'All inferior and caTthy wools were, however, irregular, though there was a very good' demand for pieces. A fairly large quantity of inferior woo! was passed in, buyers showing little disposition to bid for it. The Continental buyers were tho largest operators, a fair amount of business being done for Bradford, and some purchases were made for America. The following was the range of prices:— Super merino, ll»d. to 13d.; medium, IOJd. to 103 d.; inferior, 83d.; super halfbred, 12d. to 13id.; medium, ltd. to 113 d.; inferior, 7£d. to 93d.; super corriedale, 12d. to 13Jd.: inferior to medium, Bid, to 113 d,; super three-quarter-bred. lOd. to 113 d.;. inferior-to medium, 71d. to 93d.; super crossbred, lOd. to'lOjd.; medium, Sid. to 93d.; inferior, 6d: to Bd.; longwool, 6Jd. to 9d.;" down-wool,' old. to Hid.; merino pieces, 83d. to 93d.; halfbred pieces, 6'd. to 10id.; crossbred pieces. 7d. to 91d.; locks, 33d. to 6d.; and crutchings, s?d. to 6Jd.

Prices improved lato ia the afternoon and evening, the rango for tho whole.salo being:—Super merinos. Hid. to lid.; medium and inferior do., Bd. to lljd.; cupor halfbred, 113 d. to 13id.; medium halfbred, lOd. to lljd.; inferior halfbred, 7»d. to 92d.; super corriedale. 12d. to 13»d.; medium- and inferior do., 85d. to 113 d.; . super threequarterbrcd, IOJd. to 113 d.; medium threoquarterbrcd, 9d-. to 10d.; inferior threequarterbred, 7Jd. to 83d.: super crossbred, lOd. to lid.; medium crossbred,; B}d. to 93d.; inferior crossbred, (id. to Sd.; longwool. 6»d. to 103 d.; down wool, £Jd. to lHd.; merino pieces. 33d. to 93d.; best halfbred pieces, Bd. to lOd. -, second halfbred. pieces, 51d.-to 7Jd.; crossbred pieces, ,7d. to'93d.; locks and crutchings, 33d. to 7id;'.

LONDON WOOL SALES. ; Messrs. Dalgety.and Co.,' Ltd.. have received the following-cablegram from their London house, under date December 6:— "Sales closed firm and active, with brisk competition. As compared with closing rates of last scries, merino 'wools of good quality • and condition arc unchanged. Merino wools of other descriptions 5 per cent, lower.-. Crossbred wools: greasy unchanged: scoured 5 per'cent, higher; sliped crossbred wools, 5 per cent, higher. The total net quantity available for rale amounting to 120,000 bales was disposed of as under:—Sold for Home consumption, 52.M0 bales; sold to' the Continent, 60,000; bales; not offered, 3000; carried forward for January sales, SOCO."