THE WOOL TRADE.

Dominion, Volume 5, Issue 1510, 5 August 1912, Page 8

THE WOOL TRADE.

AMENDED EXPORT FIGURES. An amended table covering the exports of wool irom Now Zealand during Juno and for the twelve months has l)cen furnished by Messrs. Dalgety and Co., compilers of the wool export figures, which appear in this column each month. The amended list is as under:—

: BEER EXPORT TRADE. IS THE END WITHIN SIGHT P 111 the opinion of tlic president of the £ew. Zealand Fanners' Union OTr. J. G. . Wilson), New Zealand is not likely to ; bo able to export beef much' longer uii- ■ less a change takes place in our system ■ ot- farming. Mr. Wilson reason? the ■ ; matter out as follows:— ' ■ Naturally, with the exp,iiiision of dairy- , ing, which takes our best fattening land, . tho supply of fat cattle is decreasm;;. , Moro and mor>3 fattening country is beiii" ; dovotcd to dairying each year, and as the . classes of cattle bred, are not now so i suitable for beef purposes they arc lonyer .. in going oIF. Neither the quality nor tho . .quantity, is likely to bo maintai.ied in . the future, and we are, ;iot likely to . bo able to export beef much longer, \m- . less a change in our system of farming . takes place. ! SHEEPOWNERS' FEDERATION. ; ANNUAL MEETING. L The annual meeting of the New Zealand J bhttcpowners' and l'armors' J/eiieruiioa 1 was nelii in the i'avmers' Union rooms on \ Today, Mr. H. i). Vavasour, (.uanborougli) presiaiug. The fonowing districts ! were . represented:—Messrs. lioderick ; M'Konzie, James Begg, and Col. J. G. ; Nienoils, Otago; Messrs. i>. D. Macfar- ! lane and John ij-eans (Canterbury j H. 1). ' Vavasour, M'arioorougli; H. A. xjievins ; and \V. J. Birch, Wellington; H. Overtoil, ; J. Alacfarlane, aad S.E. Wright, Hawke's j Bay; and H. \ r . De Latour, Poverty Bay. An apology for absence was received I from Sir. J. G. Wilton (rice-president). Mr. Vavasour, in moving tlip adoption , of the annual report and balance-sliect, . stated that the federation, which was r formed in 1910, was now composed of sis t shocpowuers' associations. '.iho report . stated that the objects of tho federation > included the establishment of a. Dominion 1 organisation, composed of shecpowners t and farmers to promulgate a general policy, to unite ior amicable settlement of labour disputes, and to take joint action in respect ot legislation affecting members. During the year three awards affecting sheopowners were made by tho Arbitration Court, viz., the Canterbury 'Shed Hands' Award, the Canterbury Musterers' and Packers' Award, and the Otago and Southland Shed Hands' Award. Two other important disputes, viz., the farm labourers and the woolclassers, both affecting Canterbury, had been brought be- . fore the council, but no finality had been [ reached in either case. Mr. Vavasour referred to the effjetivo t work done by'the New Zealand Producers' . Association, which was formed for the . purpose, of obtaining bettor dock accommodation in London, and providing for i .supervision in the landing and handling . of New Zealand produce. If the ques- ; tion of dock accommodation was ljot ener- , getically dealt with', the Argentine shipi pers would sSop in, and block us from ; securing the South West India Docks, i Ho would like producers to realise tho economic side of the question. Tho work • now being carried out was as> much in t the interests of agriculturists and dairy > farmers as for sheepfarmers, and he hop- ; ed that producers generally would ac- [ cord their financial support (o the Pro- , dncers" Association. ■ Mr. J. Miicfarlano seconded the motion , for tho adoption of the report and bal- . nncc-sheet, and the resolution was car- . ried. i Officers were elected as under:—Presi- > dent, Mr. H.. D. Acland; vice-president, Mr. .T. G. Wilson; lion, treasurer, Mr. D. . I). Maofarlane. The council consisted of i eighteen members appointed by the affili- [ ated associations. The reports submitted in reference to , the farm labourers' and woolclassers' dis- • puteswere considered. It was reported . that the Marlborough Sheepowners , Union i had agreed to enter into an industrial . agreement with the Shearers' Union. The following resolutions wore adopted: • —"That it be a recommendation from i the Sheepowners , Federation thaE the > attention of tho Hon. Minister for Lands ; be directed to the unsatisfactory position ■ of improvements effected on pastoral • runs, and that he he respectfully re- , quested to enact legislation to provide for [ such improvements being valued by arbi- • (ration, and paid for whether (ho run • again be let for pastoral lease or on other 1 tenure." Also: "That whore a pastornl ; run is subdivided the outgoing lessee havo tho option of selecting one portion at a rental established by the Land Board." Colonel J. C. Nicholls and Mr. .T. Beg? ■ were appointed as a deputation to wait • on tho Minister for Lands in connection t with the foregoing resolutions. [■ A resolution was adopted to the effect j that.(be attention of the Minister for ' Justice bo called to the fact that tho " fines imposed, on shearers for broaches of' ' award havo in many instances not been !j collected. 1 .On the motion of Mr. Tf. M'Kciuic a " resolution was passed anprovinsj of the action of tho Farmers'. Union in ljrging the Government to formulate , n scheme for the immigration nf fnrm labourer* and domestic help?. It was decided that I the resolution be conveyed to the Minister J for Immigration. t It was resolved, o'n the motion of Mr, . De Latflur. jfondcr' by Mr. Xenm, li write to tho Hon. M&ckejisiei and

congratulate him on his appointment as High ComiiiisMnuer of Hip Dominion, and to intimate to him Hint, the- Shr-epnivnors' Federation endorses ilio views which li« has expressed nn (lie importance of exteiuliug Hie markets for frozen meat and other produce of the Dominion. A resolution was adopted approving of the >'ew Zealand Farmers' Labour Exchange being patronised by members of the Icilei'iilion. LIVE STOCK SALES, Messrs. A. 11. Atkinson and Co., of Feilding, report:—At Mr. Hunt's clearing sale last week dairy cows sold at £3 15.=. to £13, averaging £10 15.;.; 15-months heifers, £5 95.; wcancrs.'jEl 17s. 6d.; 13-month bull?, £2 to ,£3; aged horses. 355.;; others, to £13 Ids.; dray, £6; ploughs, £6. COMMERCIAL ITEMS. ' INVESTMENT SHAKES. A sale of Manning and C:>. brewery shares at 82s. was (.he only transaction rerordod in investment shares on Hatur- ! day. The buying and selling quotations were ai> under:—

EASTERN AND AUSTRALIAN STEAMSHIP COMPACT. The report of the Eastern and Australian Steamship Company, Ltd., for 1911; shows that the profit on voyages was £31,364, but against this must he put marine insurance, interest, and income tax, £17,539, depreciation at the rate of 5 per cent, per annum on the original cost of the steamers, £14,7C0, leaving a debit balance of £874. There was brought forward from the previous year a credit balanco of £970, so that the credit balance on the present report ts £96. The business was seriously interfered with by the accident to tJie Eastern, which was laid up for a considerablo time for repair, while other influences combined to affect adversely the profitable miming of the steamers. The paid-up capital is £97,80. and, adding 5 per cent, debentures, i/cOO; loan from bankers and bills payable secured by mortgagees on the fleet. £76.230; sundry areditors, .£10,630; underwriting acoount. £15,470; nnd other items, the balancesheet total is .€206,879. The Ghipping properly, after deducting £109,563 for depreciation, stands at £184,452. The fleet amounts to 16.C09 tons gross. CO-PAKTNERSIIIP. An interesting legislative experiment is contemplated in tho Co-Partnership Bill which was introduced into the British House of Commons a few weeks ago, "to promote the adoption of co-uartnershrp by statutory, anil other companies." Tile main objects of tlie mcasurtj were defined as being, firstly, to enable companies to adopt the system in case.; where otherwise they would be dcUarred from so doing either by private Acts of Parliament or by their articles of association; secondly, to set out in schedule form a model for voluntary adoption; and thirdly, to provide that such scheme shall ordinarily be a condition for granting statutory power to new companies to raise capital, thoutrs, of course, without attempting to fetter tho discretion of Parliamentary committees In individual cases. Under the proposed scheme, certificates of partnership in the object? of a company, and a share in it>s surplus profits r.re to be granted to all persons in Ho regular employment. The standard rate of wages is to be taken corresponding with a stnndnrd return of 5 por cent, on all noid-up capital, and when tho return is higher than 5 p?r cent, tho employee becomes entitled fo a bonus calctilalcd at one-twentieth of Iris existing wases for every extra. 1 per cent, paid in dividend. iVs, however, it is deemed inaflvirablc that the whole bonus should bo paid oyor in cash, it is provided that trustees shall be appointed to wr/im at least half th 2 bonus- shall be handed over for investment, if possible, in shares of the company itself. Tho rcculatior.s under tho, Bill arc to bo made sufficiently clastic to meet the varying needs in different industries, and the Board of Trade is to be empowered to allow a.lower rate of bonus when salaries and V"?C3 bear a specially high proportion to the costs of the business of a company. FOKGEIII' IN CANADA. In a recent number of tho "Journal of the Canadian Bankers' Association" tlicro was an interesting article, on the prevalence of forgery in Canada, in which the writer, who speak- with banking knowlortqe, states that tho Dominion has boon, and is, flooded with forgeries, especially in the section from wc«t of Lake Superior to tho coast. These forgeries .arc principally cheques—cheques with forged or fictitious Eignalureu; cihefiucs with forged endorsement: chooncs with both signature and acceptance by bank forged; ehecuws wil.h amonnt raised, and cither genuine acceptance or forged acceptance, or without acceptance. The writer points out that tho banks would be far lew liablo to be victimised if the Bills of Exchange Act bilit'y for forged endorsements on 'tho gsiice nuincr.-.us forgeries of tfc's nature "aro rendered por-sible. A ft-ill more important aid to t.ho hanks would be the adoption of the cro?.-od chctme system. This system was legalised in Canada in 1890, bnt lins never yci, been taken advantage of or generally understood. If the unlimited supply of unnumbered nnd recorded Customs rhcfiue's and counter-cheques placed at the disnos.il of tile public were withdrawn, if ban!; officers esorcised more care in scrutinising signal -urea, or forbore taking long chances in carbine chociues for unknown and unindp:itjfled parties, there vonld a.1?o be o considerable reduction in these delinquencies. SIBERIA'S FUR TKADE. The requirements of fashion (reports the American Consul-General at Moscow) were the cause of the' greatest destruction in 1911 of wild animal life in the history of Siberia. The total returns of the fur trade in that country amounted to more than £SOO,CCO, or over £ICO,MO in advance of 1910. Grey snuirrels to the number of 4,545,CCfl were killed in the Siberian woods. The sale of Uio tails alone, ucd for boaa and dress trimmings, amounted to 21 ton*?* The Siberian dealers made £4C0.M0 on Mils fur. while 1,5M,CC0 white, hares were killed and. 12.3 M sables. The most valuable dark srblos wore sold at an average prfce of ,-M. but there were not many buyers for this luxury, and.ti, much.better sale v.-as reached with the cheaper . Dualities. Tho total amount received for cables wan about .•eiCO.COO. Other animals killed were: Arctic fox. ICO: ermine, 200.W): brown bears, 15C0; 160,000 skunk; and 16.5C0 grey wolves. FEILDING 3IAHKET REPORT, Messrs. A. IT. Atkinson: and Co., Ltd.; of FoiWinpr. sold a large Quantity of uoiiltry and- pigs at their market on Friday. High prices were realised nil rpund. For pigs a keen demand has set in,,.and with an n-pparent shortage and milking close at hand, high prices aro likely to rule. Pit:;: —Woancre. 12s. Cd., 135., 155.; slips. 155., 17s. 6d., 18s., 3d.. 195.; porkers, Jss. 6d. to 275.; baconcrs. 455.; bows,, 20s. to 355. Twoyear half-draught hor~e. £8 155.; aged horres. £4 155.; po-jiy, 555. Poultry, ner pair: Hens, 3s. r 3f. 6d., 3j. 9d., 45., 4s. 3d.. ■is. 6d.,.55.; Cockerel? and roosters, 45., 4s. 3d., '•s. 6d., 5«.; ducks, sa. 3d.: turkey hen a (poor), IDs. 6d., 11s. Pups, ss. Produce: Potatoes, 10s. 6d. to 12s. per sack; bran, ss. 6d.; pollard. 12s. 6d. to ljj.: Nelson apples, 6s. to Bs. 6d. per case; pumpkins (scarce). ss. 6d. to 6-;. 6d. per sack; cabbage, 5-'.: swedes, 25.; carrots, 3s. 6d.; onions, 12s. per cwt. NORTII OTAGO MARKETS. (By Telegraph—Press Association.! ; Oamaru, August 4. ■ The week lin.s been almost barren of business in wheat, and never eince the season opened has there been so little doincr. Millers are well supplied, and farmers are awaiting a change for the better. Tho few sales made have been at 3a. 6d. at country stations. Only a few small lot*-of oats have, lvcn sold. For A Grade Gartons Is. lid. ha* been raid, and, for I) Grade. l.«. 9d. and Is. 10d., nil net at country stations. There is little demand for oh a IT, and £2 lCs. on trucks at sidiucs i? the present nuotntion. There has been n. fair amount of' business in potatoes. At the beginning of the week £o 10s. was paid for froort lots in new sacks with the export certificate, and, later. £5 £.!. was freely paid, net at country stations, but to-day £5 net was the ruling price at ccnnlr.v stations, nnd α-l that figure several transactions havo taken place. FItOZEtf MEAT. New Zealand Lonn and Mercantile Agency Co.. Ltd.. and Reduced, have received the following cablegram from thetr London house, under date August 2—• The market is steadier for beer, shows increased firmness for mutton, but is weaker for lamb. LONDON MARKETS. Br Telegraph-Press Association—Copyright (ltec. August 4, 5.5 p.m.) Uondon. August i, CoFti.~£outh 6ca, in bays, £%( jj, Jqj tos?

Cotton.—Außiist-Sopteinbor shipment, 7.10 d. per lb. ilntc—Augiul lihipmenl, £21 17s. 6d. per Jtubbcr.—Fine hard Para. 4s. lid. per lb. Hemp is unchanged. I Kauri gum in .stock, 267 cases. I SILVER. London, August 2. Bar silver is quoted at 27?, d. pur ounce standard. LONDON WOOL SALES. CLOSED SPIIiITEDLT. By Tclcgranh—Pioss Association—CoDsriaht London, August 2. The wool sales dosed spiritedly, but prices wore slightly irregular, top pr'ccs being not always realised, owing to the miscellaneous selection offered.(Ilec. August 4, 5.5 p.m.) London, August 3. During the saics 147.500 bales were sold to the Ilomu market, 71,000 to the Continent, and 19.CC0 to the "United Slates; 28C0 bales were held over. Compared with May sales, combing mcrinos were sto 75 per cent, higher; short wools, par; fine medium crossbred;, 7J per cent, higher; inferior, 5 per cent.; scoured declined a halfpenny to a penny: s'-'pes were unchanged; good merino lambs, 5 to 7J per cent, higher; faulty were elightly in sellers' favour; erbssbreds were unchanged. The market prospects are good. The following are tho prices realised for tho fleece portione of the clips named:— "Jlajigamahu," top price 1143., average 93d.; "Tarndalc," top lid., averago 10d.; "La-ngridge," top 10d., average 9JU.; "Jlahia," top lCd., average B|Jd. HIGH COMMISSIONER'S CABLEGRAM. The Department of Agriculture, Commerce, and Tourists have received the following cablegram from the High Commissioner for New Zealand, London, dated August 2, 1912, regarding the closing of the third scries of the colonial wool sales:—The wool sales have closed, with a good demand for all descriptions. The sales have not been affected adversely on account of the continuation of the strike. A good demand, American, especially for crossbreds, in good condition. Trade, is good for Home and Continent, and the prospects are favourable; 17.000 bales of New Zealand wools arc. held ovor. Esiimated value:—Superior merino, Is. to Is. 2d. per lb.; medium, 9jd. to Hid.; inferior, 7Jd. to 9d.; crossbreds, all grades. Is. to Is. 2>\d. per lb.; medium crossbreds, 9*d. to Is.; coarse cro-sbrcde, Bd. to lid. BROKERS' PRIVATE CABLEGRAM: Messrs. Dalgety and Company, Ltd., have received tho following cablegram from their London office, under date of August 2:—"Sales closed firm and active, with brisk competition. As compared with last sales, closing rates, super merino woole aro par to 5 per cent, higher. F-air to good merinos have advanced 5 per cent., hut inferior Qualities are unchanged. Fine crossbreds are 7j per cent, to 10 per cent, higher, medium crossbreds. bright anu light-conditioned, are 7jS, and other medium crossbreds and coarse crcosbreds, 5 per cent higher. For scoured crossbreds and slipe wools, prices are unchanged. Tho total net quantity available for rale amounted to 2£B,CK bales, of which 18.CC0 bales were sold to America, 118,CCO bales feir Homo consumption; 72.CC0 bt-.lcs to the Continent; 20,000 bales were not offered; and 30,Kfl bales were carried forward." Messrs Abraham, and Williams, Ltd., have received the following cablegram from London, under dnto August 2:—Tho sales have closed. The attendance has been good right throughout the series, with active competition. The market is very firm, and prospecl6 aro good. As compared with closing rates of last series prices for merinos are firm, from par to 5 per cent. up. For all classes greasy crossbred, tho market:is 7J per cent. up. The Eank of New Zealand has received the following cablegram from , its London office, dated August 2:—"The sales havo closed very firm, and prospects aro good. Total Quantity held over U 30.CC0 bales wool, of which 15.C00 are New Zealand. The' market is irregular for all kin<\s of sl'po and scoured wools. Current quotations for Bradford tops are:—36's quality, coarse crossbred, !3id. per lb.; 40's quality, ordinary c|rarabred.. Kd.; 44's quality, medium crossbred, l<sd. to IM.: EC's quality half bred, 17d. to lSd.; 56'e quality, quarterbred, ISJd. to. "Ed.; Ed; quality, merino, Eld. to 25jd.; 64's quality, snper merino, 24jd. to 27d. Compared with close of la-st sales pricpi for nil kinds of 6liccpskins aro 5 per cent, higher." / Ifow Zealand Loan nnd Mercantile Agency Company, Ltd., have received tho following cablegram from their London houpc, uDdcr date August 2:—The sates elbsed with good competition; 238.C00 bales of wool were offered, of which 72.000 were taken for tho Continent, and 18.CC0 for Amsrka; 50, CM bales wero held over. Aβ compared with last sales' closint rates, prices are higher by -about 5 to U per ccjit. for medium. and fine crosebreds; higher by about par to 5 por cent, for merino scoured, greasy, crop-shred laml)3 and crossbred slipe. Prices are lower by about par to 5 per cent, for crosrbrcd scoured. Messrs. Murray, Roberts and 00., Ltd., hare received the following cnblo advice from their London friends, Messrs. Sanderson, Murray and Co.. under date August 2:—"Sales have closed with n, good tone, 28.C00 bales being held over. Compared with last Loiufcn sales' etesing rates, merino market shows no cV-ango. Crossbred greasy, suitable for America, market, has advanced 5 per dent, to 10 per p-fat., eronshrert, greasy, other descriptions, par to 5 per cent, awvance. Scoured and sline crossbred, market shows no change." < MINING NfeWS, WELLINGTON SH/ARE MARKET. There were no transactions in mining shares on Saturday. The buying and telling quotations were as under:— Buyers. Sellers. £ s. d. £ s. d. Kurajiui Caledonian ■..;... — 014 New Big River 4 13 6 — ; Ross Reconstructed 0 5 7 0 5 9 Talisman 2 2 0 2 2 3 WaiTii , 113 0 - . Waihi Grand Junction ... 1 1 3' 115 Wniotahi , 0 19 — Waitangi ._. 0 17 — Tho course of sales during the paet week wero as under:— Consolidated Goltlfields, 13s. 6d. Now Big River, £4 10s. New Sylvia-.. Is., Is.. Is OJd. Talisman, 395. 61, 395. Gd.. 415.. 41s. 6a. Wtiilhi Grand Junction, 21s. 9d., 21s. 95., 21s. 9d. Vaitanci, Is. 6d., Is. Bd., 23. 4d., Is. I'.fi., 2s. OJd., S3. Old., 2s. OJd., Is. 7d., Is. 7d., Is. Bd. I : The Wellington Stock Exchange received the following te.legra.rn oil Saturday from the- Workson Dredge:—Return-, 1220z. 16dwt. * for 125 hours. STOOK EXCHANGE. (By Telegraph.—Press Association.) Auckland, August 3. PusincEs done at this morning's call:— ; ' Kew Sylvia. Is. 6d. to Is. <d. ■ -Waitaingi, Is. Bd. Ross, ss. Bd.. ss. 9d. Talisman, £2 is. 3d. Wnfhi Reefs, Is. • Victoria, skl. Northdni Steam, 7s. 3d. ; Auckland Trams (ord.), £1 3e. 9d. Chrlstcliurch, August 3. . Sales reported :—Ward's Brewery, £4 18s. 6d. (ex div.l: National Mortgage, £3 19s • Talisman, £2 U. Ounodin, August 4. Tho following sale? were reported on the Stock Exchnnge yesterday:—Sew Zealand Drug, £2 IU.; National Mortgage, £3 19s. BItEDGIXG. Dunedln, August 3. Dredging returns: Sailor's llend, 340 i 17dwt.; Good Chance, 520z. Bdwt. for 60 hours; Blackwaler, 15oz. for 120 hours: Rr-e nnd Shine, 41or. 4dwt. for 125 hours; Rising Sun, «02. ldwt. for 4 days; Sandy Point «oz. 6dwt. for 126 hours. ■ .WAIHI-PAEROA MINE. _....„ AucUland, August 3. The Waihj-Paeroa mine return for the four weeks shows that gold to tho value of £4290 was goti from 11.6C0 tons of ore Tho total to date was worth £14,125, from 39.1C0 tons. ..

NOT FEELING TOO GOOD. ■ "I was not feeling too gcod for months and being a sufferer frc-m constipation I tried Chamberlain > Tablets and found them-really splendid," writes Mr. Arthur Bradbury. Provision Merchant, -10Smith St., Colliiißivnod, Vic. "They certainly made mo fed eood after I had taken a few doses. Chamberlain's Tablets are Ihe ..best medicine I have ever used. I often take a dose and wxuld not bo without them." —Advt. Opening a trade exhibition organised by th-? Fiilham Apprenticeship Committee at Fulham Town Hull rccentlv, the Bishop of London said that what they attempting to do for the hoys of Fiilham WO3 what was meat needed for tho boys of England to-day. The whole conscience of tho country was turning- to the wastage- of boy life. The blind-alley ernnloymonts into which so many drifted t.fire'w them upon the world with no trade to their hajid, only to become unoninloyfibln? ant! a disgrace to tlwir country. They w?re tryiujf ia a real way t.o itn'p that wastage

spondTotal ing 12 June, for 12 months, 1912. months. 1911. Town. Bales. Bales. Bales. Invorcargill 1511 32,769 .30,65-1 Dunedin 1125 37,201 36,221 Oamarn ■ 72 9,904 7,892 limani „... 2009 33,586 37,240 Ghnstchurch .... 85G1 81,169 • 89,021 Blenheim 1033 13,291 ld.lOG Nelson. ; 229 5,199 3,230 Wellington 3355 123,885 114,857 Wanganui 538 21,371 a'.DG-l Waitara n 282 8,094 7,112 «PP ic r 1261 74,002 63,254 Grisborne 1072 48,114 41,061 Auckland 4 25,732 25,6'J-t Total '21,055 517,320 493,372

Buyers. Sellers. 1 £ s. d. £ s. d. National Bank — 6 0 6 Equitable Building — 10 2 6 N.Z. Loan and Mercantile 0 9 0 — Well. Investment. 0 U 9 0 12 6 FoildinK Gas 10 b Well. Gas (£10) 17 17 6 18 2 6 Well. Gas (prof.) 10 0 110 Christchurcli Jteat 15 5 0 — Meat Ki-port (52J. 6d.) — 3 3 6 Jlosfeiel Woollen - 3 8 0 Well. Woollen (ord.) 3 10 0 - Woll. Woollen (pref.) — 2 18 3 Hikuraugi Coal 0 18 3 — Taupiri Coal 12 9 — Tai'in'samutu Totara 2 6 0 — Doiiaglir Hope and Twine 15 0 - Golden Bay Cement - 110 Manning and Co 4 10 — Ward and Co 5 2 6 ' — W.F.O..V. .„ — 7 5 0