LIVE STOCK SALES

Dominion, Volume 7, Issue 1873, 6 October 1913, Page 10

LIVE STOCK SALES

Messrs. Dalgety and Co., Ltd., report having a small yarding of sheep and a good entry of cattle at their Feilding ealo on October 3. Sheep: Mixed two-tooth, 13s. 3d.; fat and forward woolly ewes, to I*3. 9d.; light fat ewes, woolly, to 215.; fat shorn- ewes, 17s. to'l7s. 6d. Cattle: Yearling hedfers, £2 43. to £3;, small ycarlug oteers, £2 75.; empty heifers, *3 *0 55.; Urhrt fat bullocke, £9 55.; bulls, £3; weaner hedfer6, £1 53., £1 16s. 6d.; good springing cows, £10 10s.

Messrs. Dalgety and Company, Ltd., report a small yarding of sheep ana <i rooai entry of cattle at their Feildins ecile on Friday. Mixed two-tooths, lis. 3d'; fat and forward woolly ewes, to 13s. 9d.; licnt fat woolly ewes, to 215.; fat Bhorn ewaj, 17a. to 17a. 6d.; small yearling steere. £2 75.: empty heifers, £3 to £3 65.; bull 9, to £3; light fart bullocks, to £9 6s. Messrs. DoJgety and Co., Ltd., report on their Donnevirke sale on October 3 as follows—A fairly good entry of sheep came forward our entry chiefly comprising ewes and lambs. These met with a very ready sale, and realised excellent prices. Our principal entries in cattle consisted af two-year steers. There was a decided! drop in this class of cattlo, and the bulk of this entry was paired out unsold. Sheep: Six to eight-tooth owes with lambs, 275. 6d. to 28s. 9d.; full-mouth ew<* with lambs, 263. to 265. fid. Cattle: -Store oows, £2 lto. to £3 sb. j good conditioned do., to £4 10s.; lifrhifc fat cows, £5 to £5 55.; fat bullocks, £9 2s. 6d.; small mixed-eex yearlings, 275.; ToarJing steers, £2 fe. to £3; yearling heifers, to £3 5». Messrs. Abraham and Williams, Ltd., report: At Shannon .on Friday we had a good yarding of both sheep and cattle, and have to report a pood sale of -sheep—exery pen bar one celling under tho hammerbut for cattle and especially young stuff the inquiry was very limited. "We quote: Ewes and lambs, 225. 3d.; fat ewes, 233. 4d.; beet hoggets, 16s. Id. to 17s. sd.j medium quality hoggets, 13s. 4d., 14s. 6d., 14s. lid.. 155.; small hoggets, 11g. Id.; yearling heifere, £2 4s. 6d.; yearling steers, £2 95.; twenty-months empty heifers, £3 ss, 6d.; threa ,a.nd three and a half-year eteern, £5 10s.; diore cows. £2 10s„ £2 163.; empty forward cows, £3 10s., £3 155., £4; fat heifers, £6 10s.; springing heifers, £5 lps.; porkers, 325., 330., to 38s.j woaner pigs, 14s. to 17s. 9d.

Messrs. Abraham and Willifus, Ltd., report as under on their Feildiing sale, heuj on Friday"We had a pood yarding of both sheep and cattle. All stock sold freely, and wo ■eo'ld practically the whole of our entry under the hammer, wo quote: Sheep—Ewes and lambs, 21s. Id.; mixed hoggets, 165.; ewo hoggets, 103. Id.; fat hoggets, 19s. 9d.; fat and forward ewee, 16s. 6d.; cull ewes in lamb, 3d; fat ewes, 245. 9d.; fat maiden ewes, 235. On account of Mr. W. Goodrick: Two-tooth stud Southdown. owes-and lambs, 4}gni?.? aged do., 2gns.; enrpty stud Southdown 1 , ijgns.; aged empty Southdown ewes, £1 is.; two-tooth Southdown rams, s}gn6.; fouryeo/r stud Southdown ram, fijgns. Cattle: Springing heifers, £6 65.. to £7 7s. 6a.; backward- calvers, £3 7s. 6d. to £3 lvS.; springing cows, £4 10s. to £6 55.; yearling heifors,- £2 14s. to £3 10s.; ©mall ditto, 355. to £2 4s. 6d,; yearling bulls, £3.

The New • Zealand Loan and Mercantile Ajrency Co., Ltd., reDOTt: —At Kanpiwaniit on Tuesday wo h<ad e> small yctaajifr of both sheep and cattle and quote:— Mjxod hojreets, to 155.; eteht«m-monthß . h<nta% £3 lis.; yearling heifers, £2 63., £2 7s. 6d„ to £2 15e.; sprinting: heifers, to £5. I-no Now Zealand Loan and Mercantile Agency 00., LU., reportOn Thursday we held * olea/rlnff SAle on account of Hr. R. -HEaswell, and quote :-Cows m imlk. £6 to £8 2g. 6d.; autumn -oalvcirs, m imlK, £5 to £6: epringinff cotvs, £6 to £10 55.; Jersey buill, £7 lCs. j .woolly ho**eU?, lfts. M.; owes and lambs, 19s. 3d.;> Imlf-dTAUKht jreldins, £1-6; eiz and luaxnese, £19 lCg.; eprinff .dray, £13. Srr. Newton King eupDlteQ the following' weekly report:—On Friday, September Zo, at my Wai\mkaiho yards, I had c, good entry of cattle and ssveral pens of sheep» There was a good attendance ox the puolio. but competition was quieter vwm at previous sale 3. On tho same day, § at Koponjra, I ihad a small entry, prices ob» tainoi boin{? aa follow Empty heifers, £3 ss. to £4 89.; good £4 to £4 11a.;, small store cows, £3 to ra.Jspringing heifers, £7 10b. to £10. On the game day. in condunction with tlie liawera branch of the- Loan' and jrercanfcLe Co.. I conducted Mr. B. H. Phillips s annual uaiiy Kile at Ngaere. There was a cood rttendance of buyers, and tho stock heing of good quality and condition, thero flag excellent competition for both, cows ana heifers, a very satisfactory clearance bein* made. Dairy cows sold at from £8 Ms. to. £16 155., -and £5 ss. to £7 JJ S »» < ISI OI i JO gprinrinff heifers. £8 ICe. to £12 ss.j £5 10s. to £7. On Monday, at loko, jearlinr heifere realised from £1 to jw 10a.;' empty cowo, £3 to £4; forward cows, £5: emptv heifers, £-3 12a. 6d.; yearlinz bulls, £2 Is.; frnrinsinff. heifeTS, £5; mjxefl ewes and hoggets, lft3. At my Stratford yards on Tuesday I had a fair all classes. There \ras a good attendance of tho public, but bidding was quiet, consequently several pens were passed, but i was able to clear most of, the yaTding either at the hammer or pnmtely at the following prices i-Ycarling g £2 12s. 6d.,*£2 125., £2 7«. 6d„ £2 fe. 6d., email, £1 lis.; yearling Jersey bulls. £1 17a. to £2 10s.; grade bnlls. £3 12j. 6d. to £5 Ss.i empty two-yoar heafers, £4 Zs.. « 12s. 6d.: lines, £3 7s. 6d. to £3 10s. 6d.: two-year steers, £4 55.; tlirce-yearbul-loots, £6 55.; aged store <j>wb,- £1 19s. to £2 1C«.; fftore £5 ss. to ii !«■» good store cows, £4 to £4 &3., and- from £4 12s. to £5 ss.'for lines in foiwa. tion.; small fat cows, £6 to £6 lie. In-the dairy pens I had a fair of cprangIns heifers, hut the quality was not up to previous yardinir®; best heilers cold verv readily, makiw: excellent pnees, but the small or backward kinds were very hard of sale. ' Prices < >b *£ u !$ l *•1? fa £9 15©.. £6 153.. £8 10s., ±8 cs«» £3 £7 * £6 155., £6 103., £6 55., £6. £5 1&3., £S'los.r~£s 65., £4 17a. 6d„ £4 155., £4 10j„ £4, £3 155.. £3 100. At my Stony Kfver yards on Wednesday. October 1, thero waa only a fair entry and attendance. linp steers made £3 3a„ £2 195.; or bad coloured, £2 to £2 35.; yearling heifers! £1 15s. to £2 65.; bulla, £2 10). to £4 103.; empty two-year coloured Jersey heifera, £4 18s.; gpadts, £3 12s. to £4, storo bullocks, £7; ased cows, £1 small storo coivs, £3 to £3 65.; Eood store cows, from £3 16s. to £4 15s. f°r cows with • condition,; forward cows, £5 to £5 Ife., fat cows, £6 Es. to £7; dairy cows. £9 lte., £3, £4 17s. 6d„ £4; springing heifers, £i, £6 7s. 6d., £6. £6 12s. 6d.. £5 10a., £5 7b. 6d. £4 10a., £4; purebred Berkshire piss (" weeks), £1 os. 6d.; others, 17s. COMMERCIAL ITEMS. IN VESTMENT BHARES. TheTe were no transactions in investment shares on Saturday. The quotations wcra as under;— „ - Buyers. Sellers. £ s. d. £ e. d. Bank New Zealand 1". 1' ® ~ . National Bank 5 7 0 6 8 0 Equitable Buildinc ® ; ~ Well. Trust and Loan. 7 16 — Christchurch Gas • 6 15 0 7 1 0 Wellington Gas (£10) .... 16 5 0- — V.'ellinzt'On Gas Ipref.) .... 0 19 6 — Standard Insuranco 1 12 0 — Gear Meat (£4) 12 10 0 - Gear Meat (£i)' 3 6 0 — Taupiri Coal 1 1 % — Westport Coal 1 10 3 — VTestport-Stockton . — 0 4 2 I;cy]oiui-O'Brien — 1 4 3 Golden Bay Cement — 019 6 W.F.C.A. (£5) - ' 7 2 6 W.F.O.A. (£1) - 18 3 Miramar (pref.) — 013 4 ' ■ DEAREE MONEY. The advance in the minimum discount rate of the Bank of England from 4i per cent., to 5 per cent, has come with suddenness. A fortnicht qko such a movo Eeemed impossible, and yet tho withdrawal of gold has hcen pronounced during the week. The bank lost over three millions in Bold in, the week, the ficurcs falling from. £39,107,000 to £36,039,000. It is difficult to say from which direction the pressure is couiine, but it is most likely from tho Continent and to soime extent from the United States. The rate, high as it is, will not occasion much inconvenience, as the market has becomo inured to a hish rate. The trouble, will besin/ if the rate has to bo forced hiffher. , THE MONETARY STRINGENCY. In : discussing tho monetary stringency 1 the "Statist" (Loudon) points out that tho curtailment of the supply of capital has not occurred iu Wreat Britain. Tho causa of tho striusency licfl elsewhere. Large amounts cf capital and of money have becu diverted from their ordinary channel of employment into the Balkans, and into the neighbouring Stated, to finance tho war and to provide the funds for mobilisation®. Jloveover, tlie ausicty oi the Continental nations lest tlie greater peace should bo' broken diminished the supply of money hy causing investors to hold their (savings and many people to hoard largo sums of cash. If it be remembered that in normal times France and Germany find no inconsiderablo part of the capital needed for the development of the borrowing nations, and that for the past twelve months they have not been, willing to supply- any appreciable sums to their regular foreign clientele, the cause of the monetary stringency will bo realised. The effects, monetary and. commercial, of the stringency of tho capital and money markets are now becoming apparent. Construction works are being stopped in many countries, unemployment is increasing throughout the Americfis and on the Continent, of Europe, consumption is being i curtailed, money is accumulating upon ' bands of bankers, and, Instead of sold

flowing out to the youns countries as it haa clone in recent ytfaiv-;, it is returning I in larger amounts, harly in August no 1 less tlian £3a!U),IjOO of gold arrived, iu Lon- | don from Bimii, Argentina, and Uruguay, > to pay for goods wnieh, but lor the political troubles, would' halve been' paid for by capital raised on tlie Continent, find was expected that large additional amounts of gold. will come to hand from various countries to pay for goods purchased or contracted for, and whicli in other § circumstances would, bo paid for in securities. The "Statist" further points out that investors havo euffered Jio such losses as thOHO to which they were subjected twenty years ago from the Brazilian revolution, tho Argentine revolution, the fall in the price of silver, the currency crisis in the United States, and, the banking collapse m Australia. Nor aro they likely to suffer any such losses ns then fell upon them. Now that the Balkan trouble is practically disposed - of, the' only serious trouble remainiivg. is tlio Mexican difficulty; although it is possible that political conditions in China may prevent tho investment of much fresh money in that country until the outlook becomes clearer. apart from these matters, all of which aro in process of adjustment, there are no conditions which seem likely to bring heavy losses to investors: On the whole it will be admitted that the great amounts of capital provided in. the last ten years for developing the young countries havo been- wisely used and havo already brought about a groat increase in tho world 3 production of natural wealth, llrafl there aro good grounds for anticipating that tho reaction in trade resulting from thu ; war in th© Balkan 3 and the distrust and financial stringency that , have ensued will not be of long duration, and that events will follow much the course they did alter tho banking crisis in tho United States in 1907. For a time there may be hesitation and a great accumulation of money a-na 1 of capital, but as soon as tho world is conI vlnccd that the Balkan War will leave no permanent economic consociiiences, aaa the financial distrust on the jas | a matter of merely temporary importance, I investors may again desire to invest their : great savings freely in attractive securities. . WATERWAYS IN ENGLANDWhile tho demand for increased waterways in England is growing more insistent, tho difficulties in the way of transport by canal do not diminish. Nature 13 tho dominant factor as far as inland waterways in, Great Britain are concerned, and in this Tespoct, at any rate, manufacturers will have to adapt themselves to existing conditions irrespective of the advantages of cheap carriage'enjoyed by their competitors on the Continent. It so happens that tho chief foreign industrial districts that aro well served by canals , are in flat country. Not only is it possible for barecs to go up to 50 miles without encountering a lock, but the canal systems aro asdßted by great rivers with few weirs. £a Groat Britain the industrial districts are hilly, tho'rivers are' short, rapid and full of weirs, the canals havo an abnormal number of looks, involving very costly and slow navigation. Between Berlin and-Ham-burg, 230 English miles, there" ore only three v locke. Between London and Liverpool, 267 miles by one canal Toute, there are 232 lock-s! In the short distance betweem Birmingham and. the S&vem thsro is a dTon of 425 feet, necessitating 58 locks. Averaged- over tho whole of nearly 4COO miles of navigable inland waterways in England, there i 6 a lock for ovory 15 mile. Thcro are nearly 50 canal tunnels, over 100 yards long, some them stretching to 3800 yards. It is not possible to wriden, deepen, extend, and link up tho British canals at anything liko the small cost of Continental systems. Even if it were done at an-.enormous cost, and the very best system which natural conditions would permit were created, either -the tolls would have to bo proportionately high to pay interest .on the capital—in which ca-se all hope of cheap transit would be gone—or there would bo a hugo financial loss on the enterprise. In any case navigation would be both slow and costly 011 account of the abnormal number of locks. In short. Great Britain cannot be a first-class oan-al country o<wing to insuperable natural difficulties.

DISCLOSURE OP SECRET REMEDIES. The. regulations adopted by the Western Australian Government, providing for the disclosure of the ingredients oi proprietary medicines, a disclosure against which the manufacturers have vigorously fought, have met with commendation at the hands of the British "Medical Journal," which says:—"Western Australia appears to be the first British State to have actually put into force a tolerably stringent law against tho ovils of hia trafllc (secret remedy prepare tlons), and. it is of interest to note exactly what is the present position in that colony. By tho Health Act, of 1911, amended by subsequent Acts of 1911 and 1912, tho general control and supervision of matters affecting tho public health a.re put in tho hands of 7 a medical practitioner, who Id etyled the Commissioner of Public Health, while for matters relating to the sale of food and drugs an advisory committee, consisting of the Commissioner, the Government Analyst, a bacteriologist, and two other persons conversant with trade requirements, is appointed by tho Governor. The regulations which have been mado and are now in force roQUire that the principal label attached to every package containing any patent or proprietary iriedicano shall bear a statement in English of tho ingredients and tho proportions of same in 6Uch. medicine. Exemption from this requirement to labelling may, however, be obtained) by-the manufacturer, or importer by depositing tho same particulars with the Commissioner and signing an undertaking that all- such medicine 6ola in th<S colony, shall comply.with tho particulars po deposited. It is stated that considerable opposition has been shown by the owners of proprietary medicines, and their agents, but that the Government had refused to withdraw or amend ths regulations. It is not easy to see what objection can bo taken to these enactments by persons desiring to ssll harmless medicines and to make only true statements in recard to them, but it, is evident that the sale of those which depend ,on falso or exaggerated statements, will becomo practically impossible." CUSTOMS. Oufitoms dntioß collected at the port, of Wellington on Saturday totalled £1035 Is. Bd. the amount for the week being £21,857 Us. lid. The returns for each of the past eight weeka. compared with th« figures for the corresponding poriod of the nroTiont year, show as sudor 1913. 1912. | August 16 10,344 9,114 August 23 i 27,014 27,261 August 30 15.876 17.218 September 6 20,434 . 10,446 September 13 .' 22,266 26,132 September 20 22,671 21,558 September 27 11,857 15,362 | October 4 21,857 . , 34,496 £152,319 £161,587 Tho beer duty collected for the past, week to tolled £196 135., as against £244 Bs. 3d. for tho corresponding week of last year. FEILDING MARKET REPORT. Messrs. A. H. Atkinson and Co., Ltd., of Feilding, Teport a fair entry of poultry on Friday, with tho demand very much in excess of the supply. Only a small yarding of pigs came forward, and tho quality was not so good as that of last week,. but prices were firm. Poultry, at per pair: Hens, 45., 4s. 3d., ss. 6d.; roosters, 35.'6 d., 45., 4e. 6d.. 55.; chicks. Is. 5d., Is. 6d.; ducks, 4s. 9d„ 55.; turkey gobblers, 15s„ 20s. Pigs: Weanora, lis., 13s. 6d„ 145., 155.; slips, Ms., 263.; etore3, 19s„ 215., 295.; porkers, 305., 345. 6d.. to 445. Produce: Potatoes, 6s. to Bs. per £ack; seed do., Early Rose and TJp-to-Date, 7s. 6d. per cwt.; cabbages, 25., 3s. 6d. per sack; rhubarb, 6d. and Bd. per bundle; PTOssed hay, £4 ss. per ton; chaff, £4 10s. 6d., £4 15s. per ton. NORTH OTAGO MARKETS. ■ (By Telegraph—Press Araociation.) Oamaru, October 5. Tho wheat market is stagnant owing to the paucity of offerings. Tuscan has sold at 3s. 7id. net, Marshall's White at 3s. 7d. net, and fair-sized lines of these have been taken. The net prices for all varieties aro-- Velvet, '4s.' to 4s. Id.; Redchaff, 3s. 9d. to 3s. 9id.; Tuscan, 3s. 7d. to 3s. 7id.; solid straw, 3s. 6id.; Marshall's White, 3s. 7d. The offerings of oats are small, and few transactions have taken place. Tho prices are:—A-grado Gartons, 2s. Id.; B-grnde, 25.; both net. Oatsheaf chaff seels at 70s. net. There ha 6 been a better business in potatoes than for some weeks post. Sales were made at tho beginning of tho week at 355. to 37ti. 6d„ but at the end of tho week £2 was given; and tiiei latter ■ figure is now the ruling price on trucks net for frcshly-pickcd lots. LONDON WOOL SALES. By Telegraph—Press Association—Copyright London, October S. At the wool salee thero was good competition, and prices wcro unchanged. ' (Rcc. October 5, 5.20 p/m.) London, October 4. The following prices were realiEed for the fleece portions of the clips named:— "Faradale," top pricci 25Jd„ average price 22id.; "Pare?" top liid., averago 10ad.; "Kra," top 11J(L, average 11 3-Bd. LONDON MARKETS. (Rec. Ootober 5, "5.20 p.an.) Londoni October 4. Copra.—Thero is only a small business doing. .South Sea. in bags, September-Oc-toher shipment; £31 10a. per ton. Jlomp.-The Market'l3 dull. Good fair grade, October-Docomber shipment, £29 10s. per ton. Cotton.—October-November shipments of American middling cotton arc clearing at 7.43 d. per lb. Ilubbcr.—Fine hard Para rubber is quoted at 3s. 4jd. per lb.; plantation, flTst latex crepe, 2s. 13d.; smoked sheet, 2s. 41a. Kauri Gum.—The Quantity in stock is 486 cases. Antimony is quoted at £6 to £6 ss. per ton for 50 per cent. ore. Aluminium is quoted at £83 to £85. Jute.—Tiie market is quiet. Native first marks, October shipment, nominally Oil ppr toa.