FARMING & COMMERCIAL

Dominion, Volume 14, Issue 132, 28 February 1921, Page 8

FARMING & COMMERCIAL

NEWS AND NOTES

AUCTION SALES FORTHCOMING FIXTURES. TO-DAY. 69 Herald Street. Berhampore, 10.30 a.m.— Sale of plumber's stock and plant (Vino and Wilson). Koputara Road, Himitangi, 12.30 p.m.— Poultry sale (H. Palmer and Co.). Woodville Yards, 1 p.m—Stock sale (Levin and Co.). TO-MORROW. Levin Yards, 12 noon.—Stock sale. 137 Lambton Quay, Wellington, 2 p.m.—Sale of furniture (Hodgkins, Carver). WEDNESDAY. Otaki Yards, 12 noon.—Stock sale. 105 Customhouse Quay, Wellington, 2.30 p.m.—Property sale (S. G. Nathan and Co.). THE MEAT PROSPECT FARMERS’ RESPONSIBILITY. Interesting reference was made by Mr. A. D. Al’Leod, M.P., at a meeting of farmers at Martinborough on Friday to the difficulties at present being encountered by the freezing companies (says the “Wairarapa Age”). He did not believe he was giving away confidential information from a meeting held the ■previous day at Wellington, when he said that the companies intended doing their best, with safety, for their shareholders. He was convinced that they would do what was a fair thing. The speaker wished those present to realise that they were shareholders, and he expressed the opinion that the responsibility of the present position should be evenly portioned, and they should take their share. “The question is,” he said, “are they justified in going on buying? That is the present danger. No company in the Dominion at the present time could guarantee meat in London within a month. The companies were held up with a weight of meat which they had not anticipated. The responsibilities should be borno by all the farmers.” Mr. Allan Donald, of Featherston, spoke in a similar strain. He said the farmers must realise that it was in their own interests to stick to the companies, which were their own property. AUSTRALIAN WOOL EXPORT PROHIBITION REMOVED. Melbourne, February 2C. The proclamation prohibiting the export of wool has been revoked after being seven years in operation.—Press Assn. LONDON WOOL SALES (Rec. February 2G, 5.5 p.m.) London, February 25. At the free wool sale there was less foreign competition. Sixty per cent, of the offering was sold. There was a fair selection of merinos, and prices were slightly easier. Good crossbreds brought a penny below opening rates. Low and shabby sorts were withdrawn. Prices — Ten-akin clip, top price, average 17d.; Woodstock clip, 39d. and 30ch; New Zealand Oakwood clip, 19Jd. and 17Jd.; Mendip Hills, 201-d— Aus.-N.Z. Cable Assn. A GOOD WHEAT YIELD The wheat yields throughout North Canterbury are said to bo beyond earlier anticipation. At last meeting of the executive of the Farmers’ Union., Mr Mulholland (Barfield) said that in his district the yield was quite 10 per cent, better than anticipated. (Mr. Sheat (Dunsandel) said the wheat in his district was thrashing beyond expectations, and he estimated an average of 29 bushels per acre. Little damage had been done to crops in view of the amount of rain experienced. Some yields had been up to 43 and 50, and on the other hand some had been as low as 10 bushels. Another speaker said It was well to mention the low yields, as they often read of a record yield per acre, but little of the low returns. That caused misunderstandings. Judging by the comments of some present at the meetings, farmers are expecting lower prices for wheat. LIVE STOCK BALES Mr. Newton King reports:—At, Stony River, on February 15. the yarding comprised good entries of sheep and. cattle. Sheep sold nt advanced rates all round, compared with last sale’s values, lambs especially showing a marked improvement. The whole offering sold. Cattle also sold with better tone, this applying mostly to weaners and ?-year-ol(l classes. Bulls and store and forward cows were unchanged. Fat 2-tooth wethers, 255. Bd.; fat ewes, 225. 6d.; lambs. 6s. 6d„ 95.; medium 12s„ 12s. 3d.; good woolly lambs, 21s. Id.; sound-mouthed ewes, 13s. 2d.; fat- cows, £7: store do.. £4 155.; weaner heifers, 365., £2 2s. 6d.. £2 55.: Jersey do.. £6 10s.; 15-month heifers, £3 35.; empty 2-year heifers, £4 Ifis.; yearling steers. £2 Is.; 18-month do.. £4 65.; 2-yenr-old do.. £5 Is. to £7 ss. At Ohnra, on February 17. a small yarding was submitted to a poor demand. Lambs, 10s. Id.; Romney rams. 2J guineas; 2-4-tooth wethers. 155.. 15s. 3d.; failing-mouth-ed ewes, ss. 9d.. 7s. 9d.; in-calf heifers. £4 10s.; 15-month steers. .£3 ss, £3 75.. £3 175.: 2-year-old do.. £4 2 R . 6d., £4 ss. At Wniwakaiho, on February 16. we had a fair vardlng of sheen and cattle, tho hulk of which sold at prices on a par with late rares; f.f.m. ewes. 7«. Id., Bs. 9d.: lambs. 10s. Cd., 10s. Ild., 14s. 6d.; weaner heifers, 305.: yearling steers, £1 175., £2 Is.: emotv heifers. £3 10s.: store rows, £2 12s. 6d„ £3 2s. 6d„ £.5 17s. 6d.: belter sorts, £4 10s.. £5. £5 55.: heifer and calf. £7 10s. At Kohnratahi. on February 16 in conjunction with the N.Z. Joan and Mercantile Co., we conducted our sheen fair and cattle sale. Tho entry was large of both classes, and the quality on the whole good. Inquiry, however, lacked spirit. A big proportion of the yarding wae eventually cleared, but prices were a shade easier, lambs maintained firmest, values. We quote: 2-tooth wethers, H«. lOd 15s. 33.: others, do.. 18s. 7d.: cull lambs, 6s. 44.: better quality, 10s. 2d. im to 12s.- good 2-tooth ewes, 18s. 6d.: 4-year ewes. 12s. 5d.; one-shear Romney rams, 21 to 24 guineas: 18-month steer. £4; 2*-year do* £5 55.; 3J-yenr do., £8 12s. 6d.; aged bullocks, £ll 15s. ;®5-nionth heifer, £3 15s. The Loan and Mercantile Agency Co.,

Ltd., report, that at Pahautanui yards on Thursday they offered about 2000 sheep to a lodge attendance of buyers. Though prices were much below those of previous sales, thev ftanagert to clear about, half of the entry nt the following quotations;— Sheen' 2-toolh ewes, Ms. tn IBs ; good sound-mouthed ewes. IBs. to £1: cull ewes. Rs.; cull lambs, 5k.: better lambs. 125.; 2-tooth wethers. IBs. 6d.; 4-tooth do., Ir>s. Cattle- Dnirr Cows. £S 10s. to -CIO; fat cow's. £7 10s.:' weancr calves, £1 12s. The N.Z. Farmers’ Co-op. Distributing Co Ltd., report as. follows:—At our Marton’ sale on Monday. February 21. a good yarding of sheep came forward to a fair attendance of buyers. Competition throughout the sale was very dragging, hut during the dnv we quitted the. whole of our varding with the .exception of two pens of ewes. Wo ouote:—R.f. lambs, rood Ms. ; medium lambs. 9s. ad., 9s. Ed., ins 4d to tls. 6d.: w.f. woolly lambs, off' rape. 18s.: Jw.f woolly lambs. Ms; 2-toot.h wethers, 16s. 7d.; 4 and 5-ynar wethers, to Ils. Ed.: S.D. rams. £l2 125.: puns £2 ?S ; totara. posts. 2s. 6d. each. Messrs Dalgetv and Company. Limited, report having offered a good varding of sheep and a small entry of cattle, at Paliantnnni on Thursday. Competition was dull, but most of the entry was disposed of at the following prices:—Fat wethers 245.: 4 and 5-vcar ewes, to 15s. 6d • mixed ago ewes. Bs. to 125.; 2-tooth wethers. 155.: small 2-tooth ewes, Ils. Ed.; 11-vear emntv heifers. £3 10s. Messrs Dalgetv and Comnanv, Limited, Palmerston North, report having a. very fair varding of sheen nt their Mnnpawekn ’sale on Thursday. February 24. Com. petition was not at all keen, though the mainrity of linos changed hands. Quotations:—Small lambs. Is. 9d.. 35.. 4.-. 2d.. 4s 4d Es Id.. Es. 2d.; medium lambs. Bs.; ' 4 and 5-year ewes. 10s.. 115.6 d. to 12s. Hid. The Now Zealand Loan and Mercantile Agency Co., Ltd., report that, nt pchantanui yards on Thursday they oflorod about 3)00 sheen to a largo attendance of , buyers. Though prices were much below those of previous sales, they managed to clear about half of the entry at the following nnot-'tinns:—Sheep : Two-tooth owes. 14s to 18s : good sound-mouthed ewes. 18s. to 205.: cull owes. Bs.: cull lambs. 55.; better lambs. 125.: 2-tooth wethers. 12s. 6d.; 4-tooth wethers. 16s. Cattle: Dairy cows. £S 10s. to £10; fat cows. £7 10s.; weanor calves, £1 Its.

Messrs. Abraham and Williams. Ltd., report:—At our Feilding sale, held on Februury 25, there 1 ’ was iv Fma.ll entry of both sheep and cattle. Bidding was practically lifeless in all classes of stock, but vendors being prepared to meet, tho market the bulk of the entry was quitted and the following prices realised :-Wlnteface lambs, 12s. 3d., 12s. Id., to 7s. 7d.; cull lambs, 6s. Bd.; fat hoggets. 265. 6d. Cattle: Store cows, 255. to £2; fat. cows, light, to £5 55.; heifers, £5 to £7 10s.; yearling heifers to £3 55.; weaners, 9s. Messrs. Dalgety and Co., Limited, Palmerston North, report having held their Feilding ewe fair on Wednesday. The total yarding was considerably less than previous years, and bidding was keen throughout the day, prices realised being highly satisfactory to vendors. Account, Forlong and Suisted, 185 3 and 4-year ewes, 19s 6d.; 92 5-year ewes. 19s. Account 8. and J. Williamson, Waituna West, 272 4 and 5-year ewes. 245. Account E. E. Short. Feilding. 136 6-tooth to f.m. ewes, 15s. 6d. Account If. T. A’Court. 149 2-tooth ewes. 18s. 2d.; 117 do.. 17s. 6d. Account W Gibson. 116 2-tooth ewes. 235. 6d. Account M. A. Conway. 57 2-tooth ewes. 205.; 62 do.. 21s. 6d. Account Norman Short. 67 2-tooth ewes. 19s. 4d.; 75 do.. 21s. 4d. Messrs. Dalgety and Co.. Limited, Pal. merston North, report having a fair yarding of stock at their Feilding sale on Friday. Graziers were disinclined to operate at nil freely, and prices were considerably below those ruling the previous week. Quotations: Small blackface lambs. 8s Id • good whiteface lambs. Ils.; b.f. rape lambs. 155.; mixed age ewes. 95.: weaner heifers, 17s. 6d.; small 24-year steers, £4 Bs.; store cows, 205.; forward cow-s, £3 155.; bulls to 20s. COMMERCIAL ITEMS INVESTMENT SHARES. Saturday’s quotations for investment shares were as follow:— Buyers. Sellers.

CUSTOMS REVENUE. Customs revenue collected at the port of Wellington on Saturday totalled £413 2s. lid. , LONDON TALLOW MARKET. Messrs. A. H. Turnbull and Co. have received a cablegram from Messrs. W. Weddell and Co., Ltd., London, dated February 23. with reference to the tallow market:—“Tallow auction, 2025 offered, 1060 sold at about 12d. reduction.’’ LONDON MARKET REPORTS. Australian-New Zealand Cable Association. (Rec. February 27, 5.5 p.m.) London, February 26. Cotton.— Liverpool quotation for American middling Upland, 7.33 d. per lb. Rubber— Fino• hard, para, lljd. per lb.; plantation, first latex crepe. Is. Ifid.; smoked, ribbed sheet, HJd. Jute.—February-March shipment, £33 per ton. Hemp.—Dull. February-April shipment, £43 per ten. . Copra.—Weak. February-April shipment, £3l per ton. Ifinseed—£32 10s. per ton. equal to 2s. 7}d. per gallon. Turpentine.—6os. per cwt., equal to 4s. 6Jd. per gallon. BANK OF ENGLAND RETURN. Aust;alian-New Zealand Cable Association. London, February 24. The Bank of England return for the week ended February <s as under:— Inarm Dtpahtmhnt. Notos Issued £127.608.000 Gov. debt... £11,015,000

Proportion o( reserves to liabilities 14.90 14.62 17.02 GOVERNMENT SECURITIES. _ Folio-win er are latest quotations for Tfnperial and Colonial Government securities.

MONEY’ MARKET. The Bank of England discount, rate, which had stood at 5 per cent, since April 5. 1917. on which date it was reduced from 55 per cent., was raised to 6 per cent, on November 6. 1919, and to 7 per cent, on April 15, 1920. OPEN MARKET RATES. The oncu market rate for three months' bill is 65 per cent., as compared with 6 a per cent, last week, and 5Z per cent, last year. Short loans are quoted at 55 per cent., as against 55 per cent. lasts, week and 48 per cent, last year. HIGH PRICES FOR RABBIT-SKINS. (Rcc. February 27, 11.5 p.m.) New York, February 26. Tho International Fur Exchange auction at St. fjouis disposed of 636,5621b5. of Australian and New Zealand rabbit-skins, which brought high prices—Australian 162 cents and New Zealand 166 cents. There were also sold 25061 b. of Australian hareskins, which brought 50 per cent, below the May prices. MINING NEWS ♦ WELLINGTON SHARE MARKET. The quotations on Saturday for mining shares were :ia under:— Buyers. Sellers

Mournful Maytime is no gay time. Bringing eoro throat, cough and cold. Then bronchitis and gastritis. All their worst effects unfold. With weary winter months abend. And bronchial ailments to endure, We still may face them without dread. While we have Woods' Groat Peppermint Cure.—Advt.

£ a. d. £ b. d. Inscribed Stock, 1938 —. 86 5 0 Inscribed Steck. 1933 89 0 0 89 15 0 War Bonds. 1938 — 86 5 0 War Bonds, 1930 — 90 0 .,0 War Bonds, 1933 —* 69 15 0 Bank Australasia — 85 0 0 Bank New Zealand —— 2 7 0 Union Bank 11 17 6 12 1 0 Abraham and Williams (ord.) — 6 5 0 Abraham and Williams (pref.) —— 5 10 Nat. Mortgage (local) ... — 4 7 6 N.Z. L. and Merc, (ord.) 85 0 0 89 0 0 N.Z. and River Plato ... — 0 19 0 Well. Trust and Loan ... — 6 10 Well. Gas (£10) — 10 12 6 N.Z. Insurance — 16 3 South British Insurance — 1 13 9 Standard Insurance 2 « 0 2 7 0 N.Z. Refrigerating (£D... —— 1 19 0 N.Z. Refrigerating (10s.) — 0 19 3 Meat Exp. (£3 12s. 6d.)... —— 4 2 6 Huddart-Parker (ord.) 2 2 9 2 4 3 Taupiri Coal (ord.) o 17 n ~~ Westport Coal — 18 0 Waipn Coal 0 14 0 — N.Z. Paper Mills 18 6 19 6 Wnirnrana Farmers (£6) — 6 5 0 Wairarapa Farmers (£1) — 15 0 Wnirarann farmers (pref.) —— inn Ward and Co 13 0 Wilson’s Cement — 0 16 2

Other socuriNotes In ties 7.434.000 reserve 17.251-000 Gold 125,510.000 £144.959.000 £144,950.000 Banking Dr.rARTM7.NT. Proprietors capital ... £14.553,000 Gov. securities £31,030.000 Public deOther securi95,220,000 posits . 15.088.000 ties Other deposits .111,259.000 Notes in 17,261,000 Rest, T-d&y reserve ... and other CoU> in 1.819,000 bills .. . 3.530.000 reserve ... £145.330.000 £145-330.000 The leading items of the Bank of England return afford the following co-" parison This wook Last wook Last year £ £ £ Bullion ••• ... 126.510,000 120 510.000 109.714.000 KeAervfl ... 19,0811 ,000 18.946.000 3’2.369,000 Note Circulation 127,598.000 1 27.810.000 96,526.000 Public Donoeita 15,988.000 15,553.000 17.322.00' Other Deposits 111.259.000 114,042.000 172.825-000

This Last Stock W eok Week £ B. 1, £ 1. 9Imperial Oontolfl 46 7 6 46 10 0 J „ War Loan 85 2 6 85 2 6 JiWar Loan 84 5 (1 64 15 0 H ,, Aua.-Oommonw’th 07 2 6 07 5 0 5i „ Aue.-Commonw’th 04 15 0 94 7 6 4 „ N.S.W.1933 Jan-July 74 10 0 73 15 0 I N.S.W. 1925 Apl.-Oot 64 17 6 65 0 0 in ,. N.S W.1930-50 Ja-Jy 60 0 0 59 17 6 53 .. NSW 1922-32. May-N 94 15 0 04 0 0 61NSW 1930-40.Fe-Au 99 12 fl 99 12 6 3« „ Vic. 1921-6 Jan-Jly 84 5 0 84 0 0 34, Vic. 1929-49 Apl.-Oot 62 5 0 62 5 t) 3 ,, Vio. 1929-49 Jan.-Jul 55 0 0 65 0 0 3J „ S.A. 1939 Jan-Jly 67 0 0 67 0 0 3 S.A. 1916 Jan.-Jly 49 2 6 49 6 4 .. Q'l’d 1924 Jan-Jly 88 0 0 88 6 0 14 UTJ1922-47 Jan.-Jly 86 17 6 66 12 3 3 Q'l d 1922-47 Jan.-Jl; 54 17 6 64 0 0 4 N.Z. 1929 llay-.Nor. S5 6 0 & 15 0 3J „ N.Z. 1940 Jnn-Jly 69 2 6 6 0 3 . N.Z. 1920 Ap-ll-Oct. 58 17 6 58 6 0 34,. W.A. 1916-35 My-Nv 68 15 0 68 17 6 5 .. W.A. 1915-36 Mj-Not 67 0 0 67 0 0 31 .. Tao. 1920-40 Jan-Jly 67 15 0 67 15 0 3 „ Tao 1920-40 Jan.-July 60 0 0 60 0 0

X s. d. X fl. d Blackwater Mines — 0 10 0 Mount Lyell 0 13 3 —- Talisman 0 3 9 0 5 0 Walhi 17 9 18 9