LIVE STOCK SALES.

Dominion, Volume 6, Issue 1799, 11 July 1913, Page 8

LIVE STOCK SALES.

' Messrs. 'W. and G. Tiirnbull and' Co.. Ltd. (late Jas. Macintosh and Oo.) report hailing Weld '.thoii' weakly salo in tho Waipoua sale yards. Masterton, on Wednesday, when they offered a very good yardliipr of sheep and cattle, well above advertised numbers. buyers wero present from till parts of the district; and. competition being very keen, the whole yarding changed hands at jrieea well in advance of late b'alo3. The-following prices wero realised:— Fat wethers, £1 Os. 3d. to £1 2?.; fat ewes. 17s. 64., 18s. 6d., £1; fat InrnFhi, 14s. 6d.: fat wethers and maideu cives, 18s. 6d.:. fat and forward ewes. 145., 15s. 4d. to lfe. Id,; forward wethers and ewes, 165.; woolly lambs, 12s. 2d., 13s. 4d. to 14s. s store lambs. 125., 12$. 2d.;"8.F: lambs, 10s. to 115,.5 d.: 4, 6, 8-tooth to;f.m. ev.'es, .in lamb, lis. to 13er. -2d;; rams'- (potters), Bs. to 9s. >-year-' liug. heifers,-'-'£2 65.;"13-ihonths heifers, £2 18s. ,6d.j ■ store cows, <'£1- 155.-, £2 '155.. £2 175., £3 to £4 Is.; dairy cows, in milk. £5 10s. to. £7,105..;,bu115..£8. -. , Tho New Zealand Loan and Mercantile Agency Co., Ltd., Palraer&ton North, report:—At the Roneotea heifer sale stock did not oome forward according to advertised numbers. Th 9 bulk of the heifors were backward, and competition was not keen, for this, class, a number line.? beinir turned out unsold- ,> A (Strong demand existed for -good. quality heifers, close'"to profit, and ' these'sold' freely.' . Quotations:—Backward heifers, £4 2?. to £4 7s-. 6d.; -medium lioifers, £6 7s. 6fi. to £6 12?. 6d.; Shorthorn heifers, £7 Kb. to £8 55.: Shorthorn-crocs heifers, £7 IC.-\ to - £7' 1 15s.;' Jersey-cross heifers, £3 to £5 lis. 6d. Messrs. Williams and Kettle, Ltd., Danne-. Tirke, report havinc. hold a dairy stock sale. Oil arcpuijt,"of,.Mrs. ,-M. luder, of .Piri Pin, on Wednesday, when the cows and heifers realised'' flit fallowing priced!— Old cows, £4, £4 10i:. til-£8; second iirid thirl calvers,"£s, £6 10ii..-.£7 -10s. to £8 10j.: 2-y«ar.-heifers, in dir. £6, .£6 fir. to £6 .15?.:. wcaner hoifora, -small. £1; weaner Jersey «roes steers,, sQI; .til 6d.,;: liullfi, 35...

. V --—- r . ... COMMERCIAL, . There were-no transactions in- invest' 'Bcttl'vaharSa yesterday. The quotations iroro..as under. .... Buyers. Scllori. £ s. d. £ «. d. Bnnk of New Zealand ... •—,• 11 0 0 Metropolitan Building,.... — ' 12 7 6 N.Z. Loan and Merc. (lO.jl 0 10'4 — N,7,. Loan and Merc, (pref.) 96 10 O'- 98'0 0 N.Z. and River Plato 1 19; 6 — ' •Well. Investment 0 11" 9,' ,"0.12" 0 Well. Deposit 0 5'9 ' • ••••— Jiapier Gae fi£s) 8 0 0 ' ' ■ AV'cll. Oas • (£10) ••».-. 16 3 .6- • - Well. Gas.tprcf.) . 10 0 National,, Ins 2 3 - 6 . >, If.Z. Insurance : a 5 6 — t3hristchrirch',Meat ~'ls. 2 6. . — Gear Meat (£4) 12 7 6 — Gear Meat (£1) , J 4. 0. .„ — Union Steam — 1 2 4 6 Well. Woollen (ord.) • \>. — •" - -3 13 ■ o Wostport Coal 17 3 *• — '*• -.Wcstport-Stockton 0 4 0 . —■■ Golden Bay Cement — 1 O'O Sliarland's preference — 116 Ward and Co 5 2 6 — W.P.C.A. (£5) ._ 7 2 6 W.F.C.A. (£1) _ 1' 8 3 LONDON WOOL SALES. The stringency of the money market is evidently affecting the current wool sales, for according t:> latest accounts, there is a alight'decline- in the prices as compared with", the: closing T:ttes': of the'last series. J iM-thermorc, of -the. sale-is'to Dc shortened -by■ tlircc days,'."which- means that between <q,COO .anil.,sQ.oCo ..bale* ,wilt not- be ottered. Had-prices remained firm thisooursp would not liavc been adopted. Juid it is doubtful .whether the rizht tat*lies are being adopted. Money will linquest ionn 1)1 v be dearer in September. v.'hcithc next-sa os' will bb" hold", but' 'on "the other Jisnd tho Kurojiean and American cIiD3 wm be out of Hip. way. Hut alloAviris* for i * t]u *i of the money market will bo a factor of importance. "•IMPK:niAL'COXms. ;! ■. Imperial Console..which dropped to £72 10s.. when tho. strike, of miners oil the. liand was announced, have continued at this price, which'is • the lowest on record. The interest on Consols is £2 "ICe. per rent., and this rate rarno-into effect on April 5, 1903, and. prior to that the interest . was £i 15s. per cent. Since tho rate of interest was reduced to 25 per cent. . tho: highest price' touched by Consols was £91-18s. 9d. in 1905, so that, in eight years. thi3 gilt-edged security has depreciated £19 js. 9d„ and that notwithstanding the fact that there lias been a shrinkage in tho volume of - Consols owinc to the reduction of tho British National Debt. Of course, £72 10a. does not represent the true prico of Consol3, nor yet does tho hieli price recorded in 1905. For. the 40 years [835-1874, tho prices of Consols fluctuated pctween' somewhat wide extremes, bnt the Ju-orase for the whole period was £93, and >s tho interoßt rate then was 3 per cent., -the. average yield at £93 was £3 4s. 6d. per cent. To give tho same yield at the present rate of interest of 2i per cent., tho prico must be about £77 10s. It is now £5 below that level, due to special circumstances, but. it requires no - <yeat posers of divination to predict that the jirico will ascend as soon ag normal conditions prevail. "Great Britain is the only Great Power thttt is paying its way today the only Power which i:; redeeming debt out of revenuo instead of : meetine oxpendituro out of loans. So long as that remains true; Console—other things beine equal—must Tiave a creator recuperative power than the securities of other Governments." During the past financial yearMarch 31, 1913, thd British National Debt was reduced by 8,518,007, and thero havo I'een similar heavy annual reductions since the close of th<( Boer War.

. EEUTBK'S TELEGRAM CO. Mr. Jtark F. Napier, who presided at the mooting of. Renter's Telecram Company. Limited. in London, on Jlay 28, described In detail the working of the news department in connection with recent cventfl on the Continent. A new development this vear lias boen Uio inauguration of a aer-

vice in Cliina, with scores of corresoondontd, a, remarkable feature being that, vernacular newspapers are gradually subscribing to it and giving it great weight-, itr. Napier referred with regret to the resignation of Mr. Ernesto Collins, tho general manager in Australasia, who had served the company faithfully for over 42 years, his successor boinjc an officer of proved ability and great experience. Ho also, described tho arrangements for separating tho banking business from tho general business by the formation of a separata company, tho issued capital of which will bo £510,000 in fully paid shares, to be held by Reuter's Telegram Company, which will thus retain absolute control.

COLONIAL SUGAR COMPANY. . Tho directors of tho Colonial Sugar Company have convened a meeting of shareholders for July 16, for the purpose of authorising an increase in the compflny'9 capital. It will bo proposed that the capital should bo increased from £3,c00,000 to £4,000,0C0 by tho creation of 60,000 now shares of £20 each, and Clause 3 of tho deed of settlement amended accordingly. The spccicil meeting will bo followod by another special meeting, to confirm tho resolution. A further special meeting will ' then be held, when it is intended to proE oso-that 12,500 of the new shares shall e, issued to tho proprietors by the transfer /of £250,000 from available profits. This will have the effect of giving the proprietora'"bne new share free for evtfry 12 shares now held, while .the capital will be. raised from £3,000,000 to £3,250,000. COMPANIES REGISTERED. In the list of companies registered appearing in this week's "Merdcintilo G-aeztte." tho following ' are included:— •. Harry H.,Tombs, Ltd. Registered as a private company July 3. Office—Wellington. • Capital—£2ooo,. into 2000 shares of £1 "each. Subscribers—H, H. Tombs, 1111 Beatrice Tombs, 445; C. M. West, 444. Objects— To carry on business of printers, publishers,' newspaper proprietors, etc. Dominion-Mercantile Agency, Ltd. Registered as a private company July 3. Office—lss Featfceretou Strict, Wellington. Capital—£soo into SCO shares of £1 each. .Subscriber?"—J. C. Hodgson, 250? P. i\ Hodgson, 250. Objects—To acquire as a going concern the business of the Dominion Mercantile Agency, heretofore carried on by J. ,C. aad P. P. Hodgeon in Welling.ton, as trad*© assignees, etc. • Salamander Field Cooker Co.. (Australasia), Ltd. Registered ae a private company July 4. • Capital—£36oo into 36C0 shares of £1 each. .Subseribers-R. St. Deere, ,600; J. S.. Barton, 180: E. W. Hunt, 300; J. F. G. Robert?. 1920; J. M'lntosh, 120; A. S. ' Henderson, ' 120; J. G. Roache, 180:, 1 J.. J. Esson, 100. Objects—To acquire from J. F.- G. Roberts, of Wellington, civil servant, an indention for the manufacture of a portatblo or -field cooking apparatus. Customs duties collected at the port of Wellington yesterday amounted to £4626 &3. 9d. Messrs. Dalge>y and Go. have received a a cablegram f-'om Buenos Ayres, stating that the wool exports from tho River Plato for the period from October 1 to Juno 30, had been, 293,500 bales, and from/ Tfruguay 120,000 bales, making , a total of 413,500 bales. A further quantity of 3COO bales* of Argentine wool is expected to be shipped during the remainder of tho present season, which comes to an end on September 30. The'total exports from the * River Plate and Uruguay for tho current season are therefore estimated at 416.500 bates, as against 516,500 bales shipped in tho previous season, showing a deficiency in the present season's South American clip, as compared with that of the preceding wool your, of *100,000 bales, equiva-

lent to about' 300,000. bales Australasian size. A better season is being experienced in tho Kiver Plate and Uruguay than was tho case last year, and it is thought that there may bo a small increase in wool production during tho ensuing season in those two countries of 10,000 bales.

LONDON WOOL SALES. By Telegraph—Pross Association—Copyright London, July 9. At the- wool sales prices wero firm. There were some withdrawals of medium and' fine crossbrcds. {• (Rcc. July '10, U. 50 p.m.) ' London, July 10. At' tho wool sales, tho following, prices were realised for fleece pifttionir',(clips named): 'Avon, top 18id.; avoKt£ifi 163 d.: Gear, 13d„ lljd.; Mount Pisa; Hid., 101 d.: Kekerangu, lid., IOSd.. Mount View, lOld.. 9 3-Bd. , New Zealand Loan and Mercantile Agency Company, Limited have received the following cablegram from their London house, under date July 9:—London Wool Sales: Aa compared with last sales' closing rates prices aro lower by about par to 5 ner cent, for merino medium and inferior, and lower by about 5 per cent, for crossbred Scoured, medium creasy crossbred, coarse crossbred Elipe. fine greasy 1 crossbred. and medium crossbred slipe.. Competition for merino continues active, and prices are. firm, but for- croeebrcd tho market is slightly weaker. LONDON, MARKETS.. New Zealand Loan and Mercantile Agency Company, Limited, have Tccelved the following cablegram from their London house under dato July 9:— Tallow.—We quote present 6pot values for tho following descriptions:—Good mutton, 375. per r-.vt.: good beef," 355. 3d. per ewt:. ■mixed, 333. 3d. per cwt. The beef market is dull. Who'at.—'We have sold an Australian careo at 365. 6d.. c.i.f. The market is quiet, but steady, and tho outlook is uncertain "Oats.—We quote Gartons, 225. 9d. There is a fair demand. WHEAT. By Telegraph—Press Association—CopyrljM London, July 9; Tho American visible supply of wheat la 47,668,000 bushels. "The Times" report on the English wheat crop is scarcely reassuring. Owing to tho weather .the figures indicate an average of 89.17 per ocnt. of a full crop. The prospect is tho worst since 1908. (Rec. July 10, 11.50 p.m.) London, July 10. The irtieat market is quiet. For South Australian February .wheat, 375. 6d|. to asked j April, 38s. 9d. Rec. July 11, 0.30 a.m.) London? July 10. .. Tho American wheat crop is estimated at 701,000,000 'bushels. ; ■ • TALLOW. : At- the tallow sale 3 1315 casks wero offered and 505 sold at from par to 3d. advance. LINSEED OIL AND TURPENTINE. London,' July 9. Haw: linseed oil, spot nipes, £24 15s. per t0n.'..," Turpentine is quoted at 275. 7Jd. EABBITSKINS. (Rcc. July 10," 11.50 p.m.) London, July 10. • Annings report little cka.nge in rabbitskins. Furrior. sorts arc quiet. SILVER. London, July 9. Bar silver is quoted at 26 15-16 d. per ounce Etandard. TIN MARKET. London, July '9. Failure of a Continental firm engaged on the "bull" Bide and forced liquidation has. combined with heavy forward sales, unsettled the tin market. . AUSTRALIAN PRODUCE MARKETS. (Rec. July 10, 9.15 p.m.) Sydney, July 10. Wheat, 3s. 7d., 33. 75d. Flour, £8 15s. Oats: Algerian ftcding, 2s. 7d., 2s. 9d.: milling, 2s. 10d.; Sparrowbills, 2e. lid., 35.: Giants, 35., 3s. Id. Barley: Oapo maltinsr. 3s. 3d.. 3s. 9d. Maize. 3s. 9d.. 3s. lOd. Bran and pollard, £4 10s. Potatoes: Tasmanians. .£7. Onions, £7 55., £7 10s. Butter: Selectod. 1125., a further fall of Bs.: secondary, 985., 108s. Cheese, 7id. Bacon, BJd. Adelaide, July 10. Wheat. 3s. 8d„ 3s. BJd. Flour, £8, £8 se. Oats, 2s. Bran and pollard, Is.

HIDES. (Eec. July 10, 5.15 p.m.) Molbourne, July 10. Averago supplies arc reported. Prices are practically unchanECd.