FARMING & COMMERCIAL

Dominion, Volume 10, Issue 2994, 3 February 1917, Page 12

FARMING & COMMERCIAL

• ♦ NEWS AND NOTES.

THE WHEAT YIELD CANTERBURY'S POSITION REVIEWED. ; By Telegraph—Press Association. Christohurch, February 2. The reports of the results/ of the fTnasTiing of wheat in almost'all parts , of Canterbury appear to indicate that the yields are even lower than were anticipated. The crops grew rapidly under the mild spring weather, but evii denly did not make sufficient root development to enable them to withstand the heat and drying winds during the , summer. The result is that the heads have not filled with grain, and crops , that looked well to the eye, have, on uie thrashiug test, proved very disappointing. The frost in November also did some damage. Even in the fine wheat district of Methven, where the crops looked remarkably well, the tiirashfng returns are disappointing. There is nothing fresh to report in connection with the wheat market. In the absence of any action regarding prices by the Government, a few farmers are selling their wheat at ss. 6d. at country stations, but there is a tle- , maud for much more, than is offering. I Other sales are being made subject to the Government price. There are practically no oats ottering, and the grass seed market is quiet owing to offerings having fallen oil'. COMMANDEERED CHEESE > IMPORTERS WANT CONSIDERA- : TION. (Rec. February 2, 5.25 _ London, January 1. " , Representatives of.the produce trades in London, Manchester, Liverpool, Glasgow, and Bristol interviewed Sir Thomas ftbbinson, representing the Board of Trade, and pointed out that the price * paid for Australian and New Zealand cheese was unfair to importers who were entitled to some consideration. The matter was not finally settled. The question of the distribution of cheeso was also raised, and there is some hope ' that a certain quantity would be rer Teased for trade—Aus.-N.Z. Cable 1 Assn. ? '■ [ ■ As the dipping season is approaching, farmers should now consider what dip to use. The ideal dip is one which is easy to use and yet remains in the fleece and on the sheep's back, and which does not stain the wool, but leaves it soft and - bright. These conditions are all fuli filled by Miirton's. This dip contains a carefully-prepared compound of arsenic which Temains on the sheop, stimulating the growth of the wool and keeping the sheep free from parasites. Remember . Murton-dipped.sheep are:the cleanest at -' shearing time!—Advt. News has reached this office that the demand is greater than ever for Parton's ; famous Victor Cheese .Vats. Orders are being executed in rotation, and by plac- ■ ing. your.order to-day, you can bo sure i- of' comparatively early delivery. Middle drainage and sloping bottom are outstanding features. Get details. A. 3. PARTON, Sheet Metal and Plumbing H Works, Pembroke Street, Carterton.— , Advt. ■ - ' - '

RECORD PRICES AT HAWKE'S BAY RAM FAIR, By Telegraph—Press Association. Hastings, February 2. Record prices were obtained at the Hawkc's Bay Ham Fair, which concluded to-day. In Lincoln stud rams, three shearlings realised 50 guineas each, and a, two-shearling 72 guineas. A Romney stud shearling, bred by Mr. J. E. Hewitt, Mangamaire, was purchased by Mr. J. 6. Field (Gisborne) at 240 guineas. The highest price realised in flock Romneys was for five shearlings bred by Mr. Bland Raynor, sold to Mr. Collins (Otane) for- 50 guineas each. Other good quality flock Romneys realised from £13 to £130. Buyers were present) from all parts of the Dominion.

SOLWAY SHOW

The Masterton A. and P. Association will hold their annual show on the beautiful grounds at Solway on February 20 and 21. Although entries will close at 9 p.m. on Monday,"lato entries will bo received up till February 10. Tho entries which have already conic to hand indicato that the show will eclipse all previous gatherings. The grounds are an ideal spot for picnic parties. Hot water in unlimited quantities is supplied free to picnic parties. Thousands of people make the Solway Show their annual picnic and family reunion. Show stock consigned to Solway is landed right on to the grounds. There is an abundance of holding ground, and there is no danger of stock suffering in tho course-of transit or after arrival. Special care is taken of show stock by tho association. Breeders who have not yet sent in their entries should communicate at onco with the secretary (Mr. J. B. Emmett, Box 40, Masterton). Tho Ram and Ewe Fair will be held on February 22 and 23. Entries close on February 5. j COMMERCIALISMS INVESTMENT SEA.RES. Yesterday's quotations for investment shares were as follow:— Buyers. Sellers. £ s. d. £ s. d. Bank N.Z. (£3 6s. Bd.l ... 11 0 0 - Bank N.Z. (£« 13s. 4d.) ...47 3 6 - N.Z. and E. Plato — 119 0 Well. Gas (prcL) 0 18 3 0 19 0 j Union Steam (ord.) 2 0 0 — Huddart-Parker (ord.) ... 1 4 0 - Waipa Coal 0 18 0 — Leyland-O'Brien 13 0 — Customs duties collected at the port of Wellington yesterday amounted to £1803 14s. 4d. AUSTRALIAN PRODUCE. By TeleEraDh-Pre?- . A c snn.io „o"--Co.prrigUt Melbourne, February 2. Barley, English, 4s. 4d. to 4s. 6d.; Capo, 3s. 3d. to 3s. 4d. Oat 6, milling, Algerians, Za. 3d. to 2s. 4id.; feed, 23.. I<l. to 2s.'■Rft. Potatoes, £3 10s. to £6. Onions. £7 to £7 10s. WEST AUSTRALIAN WHEAT HARVEST. Perth,.February 2. The AsEembly passed a motion to pur-' chase at the minimum ol 3s. per bushel: the 1917-18 wheat harvest. SYDNEY PRODUCE MARKET. (Hec. February 2, 10.55 p.m.) Sydney, February 2. Oats, Tasmaninn 2s. lOd. to 3s. Id., Algerian, feeding 2s. 6d. to 2s. 8d„ milling 2s. 9d. to 2s. 10d.; Jlaizo 3s. 3d. to 3s. sd; Potatoes £6 10s. to £10; Onions £9 10s. to £10 10s. BANK OP ENGLAND RETURN. (Rec. February 2, 5.25 p.m.) London, February 1. Tlie Bank of England return issued for the week ended Wednesday, January 31, is as follows: — Issue Department. Note Issno £73,719,000 Gov. debt ... £)1,010,00 Other securities 7.(34,000 Gold 55,270,000 W3.719.C00 £73,710,000 Basking Department. Proprietors' Gov.securicapital £14,553,000 ties £160,373,000 Public de- Othcrsecuriposits ... 46,761,000 ties 35,727,000 Other deposits ...106,777,000 Notes 31,118,000 Reßt, 7-day and other bills ... 3,520,000 Coin 1.308.000 £231,614,000 £231,614,000 The leading items of the Bank of England return afford the.following compart- 1 Eon :— This week Last week Lastyear Bullion 55.270.000 55.231,000 52.280.000 Reserve ... 35,514.000 36.288.000 36,939,000 Note Circulation 30,601.000 38,785,000 34.109,000 Public Deposits 46.761.0C0 60.721,001) 58,216.000 Other Deposits 166.777.000 139.232,000 99.554.000 Proportion of liabilities 10.63 19.10 23.55 GOVERNMENT'SECURITIES. The following aro the latest quotations for Consols and Colonial Government Se- ' 'curities in comparison with those, ruling last week:— Variatiou t,t„„L. compared &tock Price. with „„_ .__ lost week. 24% Imperial Consols m r? d „ .„..,. 34 ..War Loan £ 0 o ? ,^ owel , 4j„ War Loan S ,2 . Uochmsea 4 ..N.ti.W .1933 Jan-July ™ {_ ~ Uiichanned 3J„N.8.W.1930-60Mr.-Sp «2 Z « Job lower 34 , K.S.W. Early Curr. SHi S W lower 3 „N.8.W.1925Ap1.-Oct S .2 ?, Bf lower 4 „ Vic. 1920 Jau.-July m '. „ J SB ,I°w<1 °w< ! r 3J„ Vic;-1921-6 JiMi.-July l{ ,'! « ft 10 ™ - . 34 „ Vic. 1920-1949 ™ 0 0 ™ r C ? anfiea . 3 „ Vic. 1929-49 Jau.-Jly $ 15 0 J.?i°. er fife 4 „ N.Z. 1929 May-Nov. 82 2 6 ?f 6 lo«er 3J„ N.Z. 1912-40 Jan.-Jly 70 10 0 "0s lower ■ 3 „N.Z.l92oApril-Oct. 60 15 0 _"slower 3... W.A. My-Nv 74 15 ~ g °™ i".n n ' A ',Z 5 f M ?f ov ™ ° ° Un<Sed 3. „ Tas. 1920 Jan-July . 69 15 0 ]f„ i oner i ~ las 1920-40 Jan-Jul? 65 0 0 Unchanged HONEY MARKET, The Bank of England discount rate was on January 2, 1914, redneed from 5 to 45 per cent., on January 22 it was reduced to 4 per cent., anil on January 23 3 per cent. On July 30 the rate was raised to 4 per cent., and on July 31 it was raised to 8 per cent,, and on Au.ust 1 it was further advanced to 10 per cent. On August 6 tho rate was reduced to 6 per' cent., on August 7 it was further reduced to 5 per cent., on July 13, 1916, it was raised to 6 per oent. OPEN MARKET RATES. The open roarkot discount rate for three months bills is 51-16 per cent., as compared with 5 per cent, last week and 5i per cent, last year. Short loans are Quoted at 43 por cent as against 41 per cent. last week and 4* per cent, last year. * COLONIAL AND OTHER PRODUCE. Butter.-Danish Is slightly easier. Colonial is in strong demand, owing to delay in the arrival .of large Australian cargoes Australian is practically cleared. Choicest' salted 190s. to 1925.. unsalted 194b. ; New Zealand, 198s. to 200s. Cheeso is very scarce. Canadian 144= to 148s. Wheat.—None offering; nominally firm Flour is very firm. with, littlo offering Australian patents. 625. Oats are firm. La Plata mixed, ex quay 495. Peas and beans are firm and unchanged. Suirar is unchanjed: Tallow.—Stocks, 9479 tons; imports, 1014 tons; deliveries, 2122 tons. WOOL MARKET UNCERTAIN SITUATION. (Rec. February 2, 8.30 p.m.) London, February -1. Tho Bradford top market is «UJI cautious and uncertain. The turnover is small, and prices are unchanged. The conference has not cleared the situation. At the conference Mr. Willcy. tho Controller of Wool Supplies, en id. reEarning the London sales, that in order to avoid dislocation of business _ id until other machinery was set up. consigned wool not required for Govcrnnjeut contracts 'Would, be released to private trade

with a fixed minimum reserve and terms of payment cash in fourteen days. The Department is arrant-ins; to deal with large cargoes at Liverpool, Manchester, Hull, and Goole, and is .considering: arrangements to hold auctions at 6ome of these ports.—Aus.-N.Z. Cablo Assn. WOOL APPRAISEMENTS. By Telegraph-Press Association-Copyright (Ree. February 2. .10.55 p.i>>.) Sydney, Ikbr.ua.ry 2. The wool appraisements havs established a record for greasy wool at 29.', d. EQUITABLE BUILDING COMPANY ANNUAL MEETING. The thirty-ninth annunl meeting of shareholders In the Equitable Building and Investment Oompany. of Wellington, was held at the Chamber of Ooramerco last evening. Mr. E. Balcombe Brown, chairman and managing director, pre- 1 6idcd. In moving tho adoption of the report : and balance-sheet, a precis of which, has been published, the chairman congratulated tho shareholders on a. very satisfactory year. Referring to the investment made in war bonds, he said that no i doubt if a further call was made on the public in that connection, tho company would again do something to help provide tho sinews of war. Tho directors : had been ablo during the year to make very good investments, as excellent open- : ings had offered. There had been a feeling among some of the shareholders that a higher dividend should havo been paid, but tho company did not Snow whether increased taxation might have to be mot. Tho directors desired to seo the company in a position to pay. any $ich taxation without actually lessening the net income to shareholders. If tho next year showed a good balance-sheet and enabled not less than £1500 to ho put to reserve, and not- less to bo carried forward than on this occasion, a. six per cent, dividend might bo recommended. No money had during the pajjt yeaiJjecji given to patriotic work. Tho company was carrying forward ajjeut £200 more than last year, and ft'was hop_ea.'t!iat_tho directors would this year havo tho authority of the shareholders to expend, -up to that amount in assisting deserving institutions connected with war -work'. The election of office-bearers resulted as follows:—Chairman and managing director, Mr. -E. Balcombe Brown • directors, Messrs. D. Anderson, G. M. Kcbbell, Harold Beauchamp, Donald Jt'Lean, Leonard Stowc, C.M.G.. J.P.; auditors, Messrs. E. Buchote and W. S. Wheeler; secretary, Mr. E. A. Liddle. A voto of thanks to tho secretary and the staff was carried at the conclusion of the meeting.