FARM & COMMERCIAL.

Dominion, Volume 8, Issue 2319, 28 November 1914, Page 10

FARM & COMMERCIAL.

CHAMPIONSHIP AWARDS ; ° AUCK'LAIST) A/ AND P. SHOW, . (By-Telctrrajli.—PreEa Association.) • > . ' / y ; , i " Auoklancl, November. '27 . iThe championship' awards' -at'"tho Auckland A.' 'and P. Show were: — Draughts: James Malcolm's entires Lochsido and Heather Brae. Slieop.—Lincolns,, ram, 30 months and over, E. Barribajl- two ewes, Ebo Barnball; Homncy Marsh, ram over 18 months, G. 15. Allen, . Mastertoh: oivo over 18 month?, G. E. Allen; Shropshnes, cwo- 30 months and over, ' E. Barriball; - English Leicesters, ew& under 18 months, E. JBarriball; merino, rams under 18 months, and ram over 18 months, G-. Chamberlain. Cattle.—Shorthorns, bull, . 3 yrars, Woodward. Brothers' Springloigh K.'ng III: : /

INSPECTION OF MACHINERY ACT':.':"

• (By- MeEMph—Press Association.) < Palmerston -N.,--November 27. , A deputation of the ■ managers of dairy factories m Manawatu, Hawko's Bay,' Northern Wairarapaj and Rangitikei waited on the Hon. P. - M. B. Fishor.ithiEi morning in connection with a.clause' in the Inspection of Machinery Act. requiring all drivers of engines to bo in'effective charge: Mr. C. 11. Peattie, the spokesman,,pointed out that enforcement: Svould mean 'the appointment of'certificated, engine-drivers and mean -a-iJextra-cost of, £3.55. to factories.

Tlio Minister'said that when the clause was framed' it was never thftUKht the dairy companies would be affected. It was iiecc-ssary in sawmills and fiaxriiills.. - IWheii lio got back to Wei lingtoil lie! would'set the Department wmkingi'o'seo.ifaticould nqt- distiiigiush between. machinery that was, dangerous to human; life and harmless' mao'ilneiv. Hiv would do his best to meet the complaint. ■. .

You want'results?. Of course you do, and wo can give you proof of our ability to ho-result'producers. We know that if j-ou will; consign your Home Separated Cream to i us-to-day, you will never leave .'lis'again,'bkauso-you will get proper ■test,' correct weight, and a good prioe. Consign to.St, John's Station. For further particulars write Wanganui Fresh Food .and'lce Company.—Advt.

•.The "Omega" Milking Machine proved itself 'the best, in the world's test in England, and got first against all-comers, including several' New Zealand machines. Tho "Omega" machine has no rubbers, and'is now installed in several places where we shall be pleased to show them to you. Write us before doing any fur-, ther : business 'in milking machines. WanganaiiiFreSh Food and Ice Coy.—Advt.

. LIVE STOCK SALES,

, Messrs. and do.. litd.. roport having hold their weekly salo at Solway on Thursday. '' They , offered on acoount nf Messrs. Barton Bros., Hatflikoua, ;6everal lines of wethera and ewes, which met with keen competition, and report a total clearance at .the . follow ins nricfes:—Fat ewes, mixed aces. 19s. Id.; forward do., 16s. 5d.: store do., Ms.; cull ewes, lis. 10d.; fat and forward wethere, 10s.; store do., 16s. lid.

;' The New Zealand Loan and Mercantile Asency Co. report:—At Pataerston North sale on Thursday wo had & heavy yarding of both sheep and, cattle, and we tfold the rwhoie of our entry ,at late rates.' Wo quote:—Good tow-tooth ■ wethers,, 15s. 6d.; medium, two-tooth wethers, lfe.- Id.; shorn ewes, . with forward lambs.' 215.; yeariine .steers, £2 ,155.; yeariine ■ B.H. heifers, <T sco'd Jersey-cross yearling heifera. \-&l 3s.:'. 2-year empty heifers. £3 13s. 6d. to £3 17s. 6d.; store cows, £3 Is.,*,'£3 335,; .forward cows, £5 7s. 6d.; 6pririeine ' cows,. £4 15s.'. £5. 55.; 4-year' bulocks, ■ ,£9 103.

COMMERCIAL ITEMS

; , INVESTMENT' SHARES. i''- ' A salo'of ATestport -Coal dliarcs at' 20.?. '9d. was'tho only transaJtijn rec'o;dtd in the investment share .market. Tho. quotations were as fo.lmv: - .' Buyers. Sellers." ■' 'I■' ■ : ' £ s. d. £e. d. National Bank ; 5 3 0 — Bank N.Z. ..(new) .. 15 7 6 — Christchurch Gas-(£s) ...... :• ' 7 3 6 Well. Gas (£10) — V . 16 J;6 ffnion Steam'(ord.) 11 6 ' — Leyland-O'Brien 113 — ■ N.Z. FAEMEES", CO-OP. DISTEIBUTING - , COMPANY. The annual "report and balance-sheet of the f New .Zealand Farmers' Co-op. Distributing Company, Ltd.. have been circulated. The directors, in their report, state that tho total net profit- for the year ended' September. 30, after making provision for bad debts and writine down premises, plant, office furniture, and motor accounts. ■is £532 18s., 1id.,.t0 which has to be added £85 18s; lid.;; brought- forward from the previous year; makine a total of £618 17s. lOd. available \for distribution. This is to be disposed,of as follows:—Dividend on capital:at tho rate of 'i per cent.; bonus coupons to be redeemed on the, iollowine basis:—l 6.. per cent, rebate'of commissions to shareholders' and 5 per. cent, rebate to non-shareholders; 4 per cent, bonus on ordinary purchases; bonus to staff; honorarium to directors; to transfer £62 2s. 6d. .from profit and lass and £12 17s. 6d.. from premium on' shaTe acount to the reserve acount. bringine tho total of same np to £300. The total sales for the year show an increase of £2353. Tho profit on tradinu . account for the year was £5194 14s. 3d., and the tradine and' administration expense and rent, £4430 4s. 9d. Tho annual meeting of shareholders is to fe held on December 15.

N.Z. , LOAN ' AND MERCANTILE. The Now Zealand Loan and Mercantile Agency Company, j Limited, has received a cablegram from its London office a'dvisine that tho company mil hold-its annual meeting in London on December ]D. After proriding a further £5000 . towards, the staff benevolent'fund, the amount available, including £14,238 carried forward at ,£3o' 6s. 13d., totals £146.454. ' The. directors recommend payment of a dividend of Is;pe rcent. per annum on the cumulative preference 6tock. (half ,of which was paid in June last), also" a I dividend -of 5 per cent: on ordinary stock, and that £55,279 bo carried forward. The company's 'reserves at present total £284,208. .

. WOOI/, SKINS. AND HIDES BALES. Tlio fortnightly sale of wool, ekins, hides, tallow,' and sundries was held in Wellingtons yesterday by tho various, brokers, whoso reports are appended:— Messrs. Abrasion and Williams, Ltd.; report that large catalogues of all classes ot produce were offered. There wi.fi a. good demoad, and competition was keen. I'rices for skins were about halfpenny lower . than -last sale's ' extreme prices.. •Hides ; were very Arm at'an advance., . ; Messrs. Levin'.and Go. report that all bale wool was'held for their sale on December 11. only, bog wool being offered yesterday. Sheepskins were easier than last salo by ;d. per lb. Cowhides advanced 3d., and tallow, was easier bv Is. per cwt. ■ Messrs. W. and G. Turnbull and Co., Ltd.. report having offered a good catalogue. Competition was not so keen as usual, and In conseaucnco prices lor sncopsklns Bhowed a dcclino of about id. Messrs. Dalgety and Co. report having offered a sood catalogue. Competition wan keen throughout,' and priicfi for all lines wero on a par with those ruling at last sale. , Tho New Zealand Loan and Alercantllo Agency Co.. Ltd., ' report having offered' a. quantity of bag wool aiid a good catalogue of eheepskws, .hides, and calfskins, and a small quantity of tallow and fat. Wool sold well at late rates, hides and calfskins, wore keenly competed for, but sheepskins were a little easier, and may bo quoted at 3d. to id. per lb. lower. Up to ,l2Bd. was obtained for calfskins. • The United Farmers'' Co-op. Association and: the-Wairarapa Farmers' Co-op. Association' also report sutcessful sales.;i 'Tho range of prices was as under:— . Sheepskins.—Halfbred. 9d., to 93d.; fine Crossbred, Bjd. to 9d.; medium coarse crossbred, Bd. to 9d.; short to half-wools, s}d. to'ad.; dead and damaged crossbred, id. to 73d.:'inferior and badly damaged. Id. to 4d.; lambs, 6}d. to 73d.; damp,'salted, and gren.' 46. 6d. to 7s. lid.: oelts, 1?. lOd. to to. 5d.: lambs, Is. 7d. to is. M. Hides.—Ox, heavy, 601b. up. B*d. to 9(1.: oi, medium, 50-59, B}d. to 9d.; ox, light. 49 and under, 6Jd. to cow. heavy, 5511). and over, Bid. to 83d.: cow. medium, 12 to 54, 8 J-Sd. to 83d.: cow. light, under 55d. to Sid.: cut, slippy, and inferior, Gd. to 83d.: bull, stag, 3id. to 5Sd.: yearlings. t}d. to 10d.: .calf, superior. 12d. to 122 d.: calf, medium to good. 9d. to 113 d.; calf. . damaged,, 6d. to 10id. Tallow.—ln casks, 20s. to 225. 9d.; in tins. 12s. to 19s. 6d. Sundries.—Kabbitskins. 95d.: horsehair. 7d. to le. 7d.; cow tails. Is. Bd. . Customs duty collected at the port of Wellington yesterday amounted to £1803 19e. ,4d.

.'SOUTHERN HARKET3. '(By . Tolesraplj—Press AasociatlonJ Christchurch, November 27. It is reported that all .tho wheat- that 1 was recently lield by farmers has been Bold, aild tho only stocks aro those in .tho hands of the millers. The' flour mar-; ket is very tight, -and complaints *aro made tlia/t deliveries cannot be promised. Itjis not claimed that.thero is a scarcity as local millers, hold trood supplies of wheat. Odts are-very firm, and, up, to 25.; 9d. at country stations ha 6 been -paid -for A; Grade, and &3. 7d. for B Grade at country stations.' Oatsheaf. chaff is /also firmer, and up to .-S3 ss. is (looted for prime duality at country stations. , The anticipated .lightness of the erowiijpr crop of oatfl is expected to keep the* price of. oatehoaf chaff firm durine .the ehsumjr Keaeon. A eood rain would, however, make a considerable difference to both tho oats; and. wheat crops. They have not yot suffered to any great extent., except on, very lisht lines; as they have received benefit from the showers that feU ! durine the month. Potatoes; have further advanced, end are now auoted at' £3- 55.; to «S3 10s. per ton at country stations.

N.Z. LOAN AND MERCANTILE. . ' ANNUAL BALANCE-SHEET. . By Teleffraph—Press Association—Ojpyricht London. The New Zealand Loan and Mercantile Co.'s 1 annual balance-sheet shows'.a profit of '£121:724.. '■ Tho preference' and ordinary dividends will 'be -at tho rate ■ of. 5 per cent. In viow oil the abnormal conditions created bylthe war and'the drought :in Australia; .and of the -soeoial provision which .will be available noit year for .reserves , and .premises, account from- the liquidation of the New, Zealand taid Asso-. 1 ciation, - which is practically _ completed and will exceed last year's estimate, the directors: carry (forward tho whole of tho balance, £55£79. ■ •

AUSTRALIAN FETJIT MARKET. London. November 26. A meetimsr of lEtidine fruitbrokers and merchants ciiscufi&ed - the market prospccts for Australian fruit. Thev expressed the unanimous opinion that the BritishmarKet will be> able to absorb the-usual Quantity oi Australian fruit in tho' coming season at fair prices.

■ WHEAT OUTLOOK IN ' N.S.W. tllec. November 27. 8.40 p.m.) Sydney. Xovember 27. The Hon. D. E. Hall. Attorney-General, stated that tlio Government is ' commandeering tho wheat. . " Owine to. the dual- result of tho drought and tho war it is estimated that Australia's yield would be betwen 27,500 ,CCO to Jo,ooo,ooo.bnshel9, and she reauired tho latter quantity ior food purposes. It is stated that wheat is still be'ng exported to New Zealand: There was a possibility of flour risinE • within tho year to £16 10s. per ton, and bread to liveponce a loaf. If possible tho Government was coins to prevent that. ,• The Government did not anticipate that action would be necessary for somo months, becauso supplies would come forward, bnt if seizure is necessary it would bo seized.

VICTORIA PRODUCE MARKET. : Melbourne, November 27. Oate, 3s. 4d. to 3s. 64d. Ilnrley—Ensllsh, ss. 9d. to 65.; Cape, 4s. 3d. to-45.-6d. Maize, 45., 2d. Potatoes, old,£sto£6. Onions, £12! . .. ' BANK OF ENGLAND RETURN. . (Rec. November 27,. 3 p.m.) London, November 26. ' The 1 . Bank of England return issued for. the week ended Wednesday, November.2s, is as under:-— L , iBBVE DEPARTMENT ■ Net, lII*, £00,068,000 Gov.aebt ...£11,015,000 / . Others.ourt- : ties ... «. 7,<34.000 Sold 71,619,000 ' ' ■ . £00,068,000 BiKxraa DEPABTMENT. Preprl«t«i'»\ ■ ,Govt.,Hourl. capital f 14,653.000 -' ties... £20,286,000 Publlo dc- Other stcuriposits ... 18,691,000 : ■ ties 111,316.000 Other de- . posits ...156.463.C00 . Notts >... 64.753,000 Beat, 7-day unci etaer • ki1153.053.000 Coin..., .. 605,000 ' f192,060,000 £192,060,000 ' The loading, items of the Bank of England return afford • the • following comparison:— • ■ - XhlfwMk ImskwMk Ikii'year Bullion ... . ... 71.619.000 7i.018.000 • 35.900,000 Rmsi-V, ... 65.358,000 55.707,000 27.456.000 Note Issue ...'" 35,315.000: 55.313.0U0 28,416,000 PubJio Deposits 18.691.000" 16.2E6.0C0 0,749.000 Othor Deposits 156,J63;000 147.335,000 '40.724,000 Proportion of reserve "to ' liabilities 31.60 84.04 54.33 MONEY MARKET. / ' ■ \ The Bank of England discount rate was on January 2, 1914, reduced from 5 to 45 per cent., on January 22 it was reduced to 4; per cent., and on January 29 to 3 per cent. On July 30 the rate was raised to 4 per cent., on July 31 it was raised to B per cent., JUid on August 1 it'was further advanced to 10 per cent. On August 6. the .rate was . reduced to 6 per cent., on August 7 it was further reduced to 5 per cent., at which rate it now stands. The Bank of France rate is 7. per cent., as against 7 per cent, last week, .and 4 per' cent last year; ''; OPEN' MARKET RATES. , • The open market discount rate for three months bills is 23 to '23 per cent., as compared -with 3J per cent, last week, and < 13-16 per cent, last year. Short loans are quoted at 13 per oent.. as against lj per cent, last week, and 33 to 4| per cent, last: year. COLONIAL AND OTHER PRODUCE. Wheat.—The market is auiet; prices' unohanged. Australian landed, 51s. . Flour—Market quiet. Australian, ei store, 365. to 365. 6d. Barley.—Market fiilto. Australian Chevalier, 345.. 6d; to • 375. 6d. Oats and beans are ouiet. Prices unchanged; : I'eaß.—Prfco tending upwards. : - Sugar—Foreign gratulated is quoted at 27a. 6d. per ewt. , Butter.—Tho market is very firm. Choicest • Australian was practically, cleared. Prices are nominally unchanged. Nov Zealand choicest, 130s. to 1325.; unsalted. ocasionallcy 1345. . • - • Cheese.—Market' firm. New Zealand, 755. Jterinos are quiet; prices a shado easier. All crossbreds are. firm: fair business is doing. Sixty-fours on snot. 30* d.; from February onwards, 27d.: super sixties, 29Jd„ 26& d.; common' sixties,' 28Jd„ Z6d.; fifty-sixes.' 28d„ 27d.; fifties, 25} d.. 24d.: forty-sixes,' 22d„ 21d.; forties, 20d.. 19d. > TEE METAL MARKETS. . Silver—Bar silver is (moted at 22Jd. per ounce standard. Copper—On spot. £55 2s. 6d..t0 £55 7s. 6d.; three months, £55 ss. to £55 10s. : Tin.-On spot, £142 ss. to £142 10s.; three months, £141 7s. 6d. to £141 12s. 63. Pig-iron.—sls. lid. . Spelter.—£2s 10s. per ton.

BANK OF NEW SOUTH WALES

HALF-YEARLY; BALtANOfrSHEET. (Rcc. WoTcmber 27. Q. 40 n.ra.> mi _ Sydney, November 27. ■ The Bank of New, South half-yearly reDort states that the net profit amounted "to £246,323.. Owing to the war tho cash balances increased In London Ly £1,600,Cf1Q, and in Australasia, by £800,000. Tho note circulation in New Zealand had Bliffhtly increased. 4 Dominion measures for rchevmc tho financial etrincrcncy by enlarging the-uso of individual banknotes provedi satisfactory. Tho bank was never in a, bettor, posltion to. meet the present unexDected state of affairs available is £315.729, includini? brought forward. The dividend is at the rate of 10 ner ccnt. per an- . 18 ftl lded to the reserve, find £90,729 earned fonvai'd, : '

MINING NEWS

WELLINGTON SHAKE MARKET. ■ There were no transactions in mining shares seaterday. The quotations were as follow:— j. Bnyera. - Setters. £ a.d. £ e.d. Ross : 0 12- — Talisman 193 (1 w 0 Wailu — 1 17 3 Grand Junction' i >— 14 3 STOCK EXCHANGE. (By Teleerapli—Press Association.) Auckland, November 27. * SaloB:— ■ ' Waihi, £1 17s. 3d.,- £1 17s. TaJisman, £1 9s. 9d. >■' •' ( . WAIHI GRAND JUNCTION. ■ . The following cablegram lino been sent to the London office:—"Aro now. crusliiwr at the rate of 418 tons ncr 24 hours- the extraction is £1 lis. No. 7 level 1 Royal lode: Croaßcut has been advanced 22ft.: liavo so far not reached footwall, appearances <ire very good. Assay's have not been completed." WAIHI-PAEItOA COMPANY. Oly TelcEraph—Press Association.) Auckland, November 27. For the. four-weekly period ended November 21, the Waihi-Paeroa Gold Extraction Company, Ltd., treated 12,100 tons of failings for a return o[ £4250. Tho returns of the company now total £114,961 6s. sd. from the treatment ol 366.3C0 1.0113 of tailine*.