FARMING & COMMERCIAL

Dominion, Volume 11, Issue 129, 18 February 1918, Page 8

FARMING & COMMERCIAL

NEWS AND NOTM;

DAIRY PRODUCE PRICES

7 EyiDENCE BEFORE 'AUSTRALIAN COMMISSION. Sydney, February 16. Giving ovidoncp before the Comrno-. tlitios Commission, which is ' inquiring into'prices of dairy products, the manager of tho Dairy Farmers' Milk Company stated that cows now.ctst v.p to £30 each, against a cost of £3 to £10 each before the war. The cost of production of milk before the war was sixi pence per gallon; it was now nineponce > ,to tenpence p.er gallon.—Press. Assn.

MASTERTON SHOW

'.'_...'..,.' ENTRIES TOTAL 1460. ' (Bs Telegraph—Special Correspondent.) Masierton, February 17.. ;. Entries for tho Masterton Show total 1460,' against 1626 last year, a decrease of 166. The falling off is chiefly in the sheer> section, several well-known breeders being unable to exhibit. . EGMONT A. AND P. SHOW The thirty-fourth annual show will be held on the show grounds on Wednesday and Thursday next. Arrange'ments are now completed, aid an unusually attractive--programme frill be placed before visitors. In addition to the ordinary classes for cattle, heises, sheep, pigs, and dogs, a series of dog trials will be held each day. There are sixteen'entries for this event, und the four winners the first day will give an exhibition on people's day. Extra • heavy_ entries are reported in home industries. A fine collection of war photographs will be exhibited ii( this section. Tho pictures of the tanks in , action are said to be particularly good. They are the property of the Overseas Club, Londoiij and are official views. 'An exact replica of a front trench will be on view, and will be complete in every detail, being constructed by sol- -'" diers who have lived and fought in the front trenches. ' All'the usual attractions will, be .available, and a.record •"crowd is expected.

SEED-GROWING

The (juestion of growing seeds in the Dominion was discussed- at great • length at the last meeting of the -Board of Agriculture. Mr. Brown, Director of ' the Fields division, and Mr., Cockayne, Biologist, of the Department, of Agriculs ture, joined in .the discussion as to what might be done in vliis direction. Mr. Cockayne pointed out- that the practicability ot obtaining seeds depended largely on the duration of the war and tie unsettled' period that might follow; but it was evident that the difficulty of securing adequate supplies at the present time was Very acute, and it was quite likel.y that / prices for such seed would remain high tor some time after hostilties had ceased. Various members ,of the Board of Agriculture detailed their experiences in ■ the growing of seeds, and expressed ■ the'. opinion ■ that in spite of the competition of Europe this branch'of farming may-be. made a very remunerative one. ! It was de-, cided to request the Department of Agriculture to. publish some more infor- ; i mation in/tlie' ''Journal of Agriculture'' : ,' bs to the best methods'of growing and '' '.the particular lands, of seeds for which there was a demand in the Dominion.; It was also agreed that the Government; should •be ■-, recommended, for the purpose of. encouraging; the

growtli of red clover seed, to import a number of the very best class of humble bee, .particularly the red-tailed bee and one lenmvn as tlio bronze bee Ear-marking and Branding of stock. The question of ear-marking and ■ jrauding stock was discussed at the last meeting of the Board of Agriculture, and a sub-committee was set up to report on the scheme submitted by tho Live Stock Division of the Department of Agriculture for the ear-marking and branding of stock. LIVE STOCK SALES Messrs. Dalsety and Company, Limited, report:—At our Wanganui yarde on Wednesday wo had a good yarding of Bhoep and-a few cattle. There was a large attendanco of buyere, and competition . for good duality shoep waß good. Tho whole of 'our yarding was practically quitted under tho hammer at pricc4 slightly better than lato Bales. We qnote :—4-tooth ewes, 325. 9d. to 335. 2<1.; 4 and 5-year ewes, ,245. 3d. to 255. 7d.; em. ewes, 215.; small Wooth wethers, 245. to 265. IOd.; m.s. shorn lambs, 15s.- 6d. to 15s. 9d.; cull woolly lambs, 7s. Jd. to 7s. 9d to Bs. 6d.; m.s. weaners, £i; oows and, ca'ves, £10. At Waverloy, on Friday, the sheep yard's were well filled, and met with fair reception from the usual attendance of buyers. We nnote:-4-year ewes, Ms. Bd.: 4-tooth ewes. 25e. 3d.; 4-toothv wethers, 255. 3d.; 4 and 5-year ewes. 215.; cullewes, 6s. to 7s. 4d.; fat cows, £12 3s. to £14 10s.: lifrht fat do, £10 10s. to £11 195.; forwaTd cows, £9 10s.; etore cows, £7 10s.; potter bull, £13 10s.

Messrs. Baljety and Company, Limited, (Palmerßton North, report on their' Thvrs- ' 'day's . sale:—A very bi|j entry of sheep 'mine 'fonvari and a fair entry of cattle. Practically every line changed ' hands. Quotations:—Sheep: Jjainbs 'small), shorn, Bb. 6d.; lanibs (email), > woolly, 9b. M.. 9s. 10d.: lambs, medium woolly, 145., 13s. 9d; lambs, good woolly; 16s. 4d., 17b., 19b. 4fli< mixed 2-tooth9, 255. Id.; store ewes, 135., 145.; forward ewes, Wa. 3d:, Z4b. 6d., 245. 10d.; 2-tooth'wethers, 20e., v 245, 25b., 28s. 9d.; Eomney rams, 1 euinea, 2 guineas, 3 suineas. Cattle: 15-montha heifere (r.w.1).),

£4- y Meesrs. Abraham and TTilliams, Ltd., report a zood yardins of both sheep and \cattlo at their Palmorston North sale on Thursday. Prices realised wero as follow: -Sheep: Wethers, to 275. 3d.; fat lamps, 18s. 3d.40 .20s ; etore ewes, 15s. 6d., 18s. 44. to 215.; store lambs, Bs. 3d., Bs. 6d., Uβ., 125.. 10d. to 15a:; rams, to-lj guineas 2 guineas, to 3J guineas. Oattlo: Fat cows, £10, £11. £11 125.: cows. £7, £8 to £9, 5e.; springing cows, £8 55., £10 to £10 10b.; yearlings, mixed, £3 ss. to £3 165.; weaners, m''i:ed, £2, £2 10s to £). ' ■ ; Messrs. Wright, Stephenson, and Co., Ltd., report' ae .follows on the Hartinborough ewe fair:—We yarded about 3O"0 sheep, good stuff being in keen demand, and seilinc well up to previous prices. ■Quotations: 2-tooth ewes, 31s to 325. Id.; mixed 4, 6, and 8-tooth ewes, 34b. to 365.; 4-year ewes, 265. to 305.; 5-year .ewes, 225. to 25b. 6d.; aged ewes, 16s. to ZOs.; cull ewes, 12s. to 155.: mixed 2-tooth ewes and wethers, 30n. to 345.; 2-tooth wethers, 28s. t" 305.: 2 a.nd 4-tooth wethers. 31s to 335. 9d.: cull 2-tooth wethers. 23s to 25b.; small 2-tooth ewen, 21k to 245.: b.f. 2-toothe, 235. -to 25b. <id.: w.f. lambs. 14s. to 16s.

Messrs. Wrielit, Staphensoti, and Co., Ltd., report:—We held our weekly sale in the Farmers' Yards lart Tuesday. There was a, 'large varding offered to a fair attendance, and -prices^showed.a decline on Integrate , !, a. considerable portion of the yarding being Ttaesed. We quote:—Fat 2tooth ewes a.nd wethers, 30s Bd.: extra prime ewes, 385.; 5-year ewee. 30b. 7d.: b.f. rt>ne lambs, J6s.: shorn w.i. lambs. 14s. tn 14s. 7-d.; cull lambs, !S. Sβ.: forrard co«-6, to £3 155.; bulls, £3- 2u. 6d. to £7 5s The New > Zealand Loan and Mercantile Agency Co. report:—At Rongotea on Wednesday we Had a good .varding of both sheep and cattle. A fair.sale resulted, and we quote:—Mixed fat sheenT 265.. 31b. 6d.; fat lamhs, 21s. 9d.; forward lambs, 16s. 6d.: small lambs, 6s. 3d., r .s., 11s. 2d., 11s. 5d.; yearling heifers, £3 17s. 6d., £4 175.: good ..weaner steers, £4 lie.; aged store cows., £3, £5 55.; fair stove cows, £6 10s.. £7 175.. 6d.; forward cows, £B 155., £8 17s. 6d.. £9 12s. 6d.: fat heifers, £10 65.; fat cows,/ £11; heavy, bull, £14. • • The New Zealand Loan and Mercantile Agency Co.. Ltd.. report that at, Levin yards on Tuesday they offered a small entry of sheep ■ ancW, pood rarding of came. A good clearance was made at the following prices :-Aged ewes, 14s. 2d.: small woolly lambs, 10s. 4d.; light fat cows. £9 to £9 15e.; forward condition cows, £8 14s. to £9; store cows, £4 to £4 10s.; cow and .calf. £9 '2s. 6d.; mixed-sex yearlings, £5; vealers, £8 7s. 6d. to £3 2s. 6d.; weaner steers, £3 to £3 65.; weaner heifers, 275.; mixed-sex wcaners, 21s. 6d. to

Messrs. Abraham and Williams, Ltd. report :—At Levin on Tuesday we yarded some 3200 sheep and a good entry of v t 6 ; P r,ces realised for' bheep were sligiitly- better than late ruling values, and with the exception, of a, line of breeding ewes and two small pens of wethers we quitted the whole entry of sheep under the hammer at prices which were highly satisfactory. Cattle on the whole 7,T«° ■■ *>lle*sale. with the exception of fats. Quotations :-Sheep: Fat 'ewes, 31s ■JJ-i two-tootlr wethers (small). 255., 25s' it' n « two o'J oot S, wethere (Eood sorts) 275.. 285., to 295. 6d.; six-tooth and fouryear breeding ewes, 295.; two-tooth to ;£"'• <>"**■ »s. M. to 28s. 2d.; mixed twoewe* 20, "f' , s , mall > f ' tw-tooth 9d • it' }**:&• J 6 *-. 6d.; small lambs, 9s 9d; two-tooth S.D. rams, 41gnfi.; two-tooth f°™W ™me, 4Jgns., ejgns.f 71gns., Bsgne £10 f ■?&} fat lifers, £10 £9 J W \V 5s h l % m 7s ' ; forward cows i» 4 ffl. 6d tp £9 75,; store cows, £7 6s : £Mte' ct «/ 6d,; e, ? hteen -nwnths steers, % }"h, £ l "s ; . Jo- £8 55.; mixed weaners it tn £ |, l ,f a -U lsllt ,r Wcr bulls ' « 15e - « i^ , «i fl °- ? ,KS: 135., 14s. 6d., to i»s.. i,i 3s. 6d.. to £4 ' n? , " , Lo f n 4 nd Mercantile Agency Co., Ltd.. report:—We had i food Y Z m M Bl,eCri »l/K««oii on ThSrs day, which wo submitted to a viry good attendance of bnyers. Competition was Id 6 "? T?" clas ? es - and w " made almost a total clearance under the ham- «. & t lol }°™-too, four-tooth -wethers, 415.; 56 two-tooth 245.; 55 two-tooth mi 8 ?' ZSS - ?- : m ewes; 21b 9d; m. Id.- 133 a O ., 235.: 35 fat ewes, 31s. M.jw shorn -wether lambs,'l4?. 2d'.; 155 do Hβ.; 177 ewe.lambs. 12g. 3d.; 300 m.s. lambs' Bs.; 76 do., Bs. 7d.; 30 cull lambs, 45.; threeyear steers, £13; two-year stecrß, £11 10s ■ eighteen-months steers, £9 10s.; fifteenmonths steers, £6.

Messrs. Wright, Stephcnson and Co.. Ltd., report on their weekly sale, held at Pahiatua last Tuesday, in the Farmers' yards, as follows:—There was a large yarding offered to a, fair attendance, and prices snowed a. decline on thn lute rates, n considerable portion of the yardhur being passed. two-tooth ewes and wethers, 30s. M.; ext.ra prime ewes, 385. ; five-year ewes, 20p. 7d.; black-face rape lambs. 165.: shorn lambs, 14s. to 14s. 7d.; cull lambs. 7s. 9d.; forward cows to £8 155.; bulls. £3 2s. 6d. to £7 ss.

COMMERCIAL ITEMS

! INVESTMENT SHARES. Saturday's quotations for investment shares were as follow:— » Buyers. Sellers. £ b. d. £ s. d. National Bank 5 5 0 •» — Bank N.Z. (old.) - 12 10 0 N.Z. Loan and Mcr. (ord.) 81 0 0 - N.Z. and River Plato ... 116 6 - Well. Trust and Loan . 5 13 0 — Well. Deposit 0 7 0 ■ — National Insurance • 3 0 0 — Gear Heat (£1) 1 15 6 — Auckland Trams 10 6 -. Uniun Steam (pref.) 113 — Kaiapoi Woollen (ord.) .. — 7 0 0 Well. Woollen (arl) 615 0 Well. Woollen (pref.) 415 0 Weatport Ooal — 1 11 t> Waipa. Colliery - 0 18 0 Leyland-O'Brien 119 — N.Z. Paper Mills 0 19 0 Sharland's ford,) 17 9 - W.F.C.A. (£5) 6 5 0 — W.P.O.A. (£1 pref.) 10 0 N.Z. War Honda,' 1916-30... - ' 95 2 6 Customs duties collected at the norf, nf Wetline-ton on Saturday amounted to £3684 10s. 6d. STOCK EXCHANGE. . By Teleeraph.—Press Association. Dunedin, February 16. A sharo rise took place in HuddartParker eharci to-day There were aales on 'Chance at £1 15e., £1 15s. 6d., and Si 15e. 9d. The market closed firm with buyers at £1 15e. 6d.; sellers £1 16s. 3d. LONDON MARKETS. (Rcc. February 17, f.5 p.m.) London, February 16. Hemn and Jute—ln fair demand at Government rates. Rubber.—Para ?.?. 6t'.. Ncr lb.; plantation 2a. 3Jd.-, smoked, 2s. 3ld. BUTTER AND 'CHEESE. London, February 15. The Food Controller is diatributing- on Saturday one-eighth of the trade's Febru. ary applications for butter, There is no

news of any distribution of cheese—Aua • N.Z. Cablo Aen. '. ■ LONDON STOCK EXCHANGE. (Reo. February 16, 5.5 p.m.) AiistraUan-Now. Zealand Cable Association. Londoni February 14. Waihi shares. 375. 9d. (buyers); 38s. 9d. (sellers). Talianian, 15s (buyers); 176. 6d. (sellers). BANK OP ENGLAND KETURN. Auetralian-Ncw Zealand Cable Association. (Kec. February 16, 5.5 p.m.) London, February 14. Tho Bank of England return issued for the week ended Wednesday, February 13, is. as under:— ' j 16SDE DUPAIITMENT.'' N'btelssno m,%nm Gov. dobt... f 11,015,000 Other securities 7.434.C00 Gold 57,625.000 i76.K4.003 £76,274,000 BINKISO DEPARTMENT. Pioprictors' Gov. securi- • capital ...£14.553,000 ties ... £56,350.000 Public tie- Other securiposits ... 39,013.000 ties : 95,667,000 Other doposits ... 126.-265.000 Kotes 30,213.000 licet, 7-fley ' and other ' ' billsi ... 3,518.000 . Coin 1.110.000 / £183,319.000 The leading items of the Bank of England return afford the following comparison :— This week Last week Lastyear £ £ £ Bullion 57,625.000 57,478.000 55.603.000 Heserve ... 31,332.000 30.9-28.000 36.141,000 Noto Circulation 46,001.000 46.131.000 6U.451.000 Public Deposits 39.073,000 41,141,000 51,923.000 Other Deposits 126,263.000 125.591.000 145,157.000 Proportion of '' liSlltTcs 18.06 18.56 18.33 GOVERNMENT SECURITIES. The following are the'latest quotations for Consols and Colonial Government Securities in comparison with those luling last week:— stock Week Week WEISS? »» g^so 4 ~N.5.W.1933Jan-Julj ®J° J * 3i,,N.5.W.1930,MMr.-Sp mil m g s 3 N.S.W. Early Curr. SL? ' f, J 5 , 3 ,N.5.W.1925Ap1.-Oct f 0 ?°. f o }\ b 0 4 „ Vic. 1920 Jan.-July S" g * la ° 3J,, Vic. 1921-6 Jan.-July f 0 * g g? j g 31,, Vic. 1920-1949 \° ° ?q 0 3 „ Vic. 1929-49 Jan.-Jly , fi" n n U ,S.A.l9l6Jan,July f,\l 2 ?£ 2 § 3 „ S.A. 1916 Jom.-July «52 S A,, n 4 ~QTd 1915-24 Jan.-Jly gj q 0 91 5 0 3 ~QTd 1922-47 Jan.-Jlj C 2 2 6 6-2 5 0 4 „ N.Z. 1929 May-Nov. £6 12 6 86 7 6 31,, N.Z. 1912-40 Jan.-Jly li 15 0 72 10 0 3 „ N.Z. 1920 April-Oct. 63 5 0 68 17 6* 31 ~W.A. 1915-35 My-Nv 74 12 6 74 0 0 3 „ W.A. 1915-35 My-Nov 69 5 0 69 0 0 31 „ Tas. 1920 Jan-July 71 0 0 71 2-6 3 „ Tas 1920-40 Jan.-Julj 65 0 0 65 0 0 MONEY MARKET" • The Bank of. Endand discount rate was on January 2, 1914, reduced 'from 5 to 41 per cent., on January 22 it was 'reduced to 4 per cent., and on January 23 to 3 per cent. On July 30 the rato -was r.i'sed-. to 4 per cent., on July 31 it was raised to 8 per cent., and on August l> 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., on July 13, 1916, it was raised to 6 per cent., on January 12, 1917, it was reduced to 51 per cent., and on April 5 it was further reduced to 5 per cent.

OPKfI MARKET EAIE6. The open market'discount rate for threp months' bills is 3Jd. per cent, as compared with 4 per cent last week and 5J per cent, hut year. Short loans are quoted at 3/, per cent., as against U per cent, last week, and 45 per cent, last year. ■COLONIAL AND OTHER PRODUCE. Wheat and Flour—No offerings of Australian either on spot or on passage. English, in smap, eupply. Bells rapidly. Oats.—Firm; little offering Peas and Beans—Strong. Sugar.—Unchanged.

MINING NEWS

WELLINGTON SHARE MARKET. The, quotations on Saturday for mining shares were as under:— Buyers. Sellers. £ s. d'. £ s. d. Talieman 0 9 6 0 10 0 Waihi — 1 17 6 Grand Junction 0 1J 9 — Waihi-Paeroa. — . 0 11 0 By Telegraph—Press Association. Reefton, February 16. The Westland Gold Prospective Syndicate, of which Mr. David Zinian is manag v ing director, has purchased the Worksop No. 2 dredge, the largest and most powerful yet built in the Dominion. The machine is to be removed to the Arahnra Valley, near Hokitika., to ' dredge the native reserve and river, over which the syndicate holds extensive mining concessions. This, coupled with the discovery of a further gold-be.arin? reef, the third, at a, depth of thirteen hundred and fifty feet in the' North Blackwater Mine, of which Mr. Ziman is also managing director, should help to stimulate/ the goldmining industry. .