FARMING & COMMERCIAL

Dominion, Volume 14, Issue 266, 4 August 1921, Page 8

FARMING & COMMERCIAL

NEWS AND NOTES

AUCTION SALES (j FORTHCOMING FIXTURES. TO-DAY. Main Road. Karori. 10.30 a.m.—Furniture sale (Johnston and Co.). 157 Lambton Quay, Wellington, 12 noon—• Property salo (Johnston and Co.). Beatherlea, Levin, r p.m —Sale of dairy cows (Abraham and Williams). Upper Hutt Yards, 1 p.m—Stock salo. 89 Derwent, Street, Island Bay, 1 p.m — Salo of dairy cows (Wallaco and Co.). 137 Lambton Quay, Wellington, 1.30 p.m— Salo of unclaimed cargo (Hodgkins, Carver). Customhouse* Quay, Wellington, 2.30 p.m.— Property sale (H. Leighton). 151 Lambton Quay. Wellington, 2.30 pm.— Property sale (A. la. Wilson). TO-MORROW. 157 Lambton Quay. Wellington, 10.30 a.m. —Sale of unclaimed cargo (Johnston and Co.). WOOL PROSPECTS THE COMING SALE. Ths date of the next. Wellington wool salo has been definitely fixed for Friday, August 19. It will bp held in the Concert Chamber of the Town Hall, and bidding will commence at 0 a.m. A total of about 10,000 bales will be offered. These will be fairly representative of North Island wools, for there Is still some good staple to offer. There are a. number of growers who still persist in withholding their wool from sale in the hope that the market may take a more favourable turn in the more or less immediate future. The experience of the past few months does not tend to bear out this optimism. On the contrary, everything points to the conclusion that those who have met the market are the best off to-djiy Inquiries made by a Dominion representative yesterday in local wool circles tended to show that growers have nothing to gain and everything to lose by not releasing their clips. This particularly applies to small clips, and those in a position to feel the pulse of the market hold that the evidence nil points in the one direction, namely, that growers will be well advised to get rid of their wool before the new clip is marketed. It will only bo a little over three months before the new clip will be offered in Wellington at the local sales. "Some of my clients,” remarked one authority, "are holding on for sixpence per lb. when the top price which is being realised is 3?d. Clearly they are on a losing wicket, particularly \f they happen to be paying interest on overdrafts or advances to banks or mercantile houses. These men will require a considerably higher price month by month in order to justify them holding on, because they are paying interest on the value of the wool. Nothing short of a miracle can, in the light of the present trend of events, accomplish this end.” The foregoing views were endorsed by a prominent broker. ADDINGTON STOCK MARKET RECORD PRICE FOR FAT SHEEP. By Telegraph—Press Association. Christchurch, August 3. At Addington the annual "Grand National” market was held to-day. There was an outstanding entry of special show beef and mutton from South Otago, North Otago, and Canterbury, with several linos from tho North Island. The number of exceptionally prime steers exceeded that of previous years. The top beef price for show stock was £7O, others soiling at £O3, £55, £5O, £45, and under. A record for the yard was established in fat sheep, four purebred twotooth Suffolk wethers making £l3 6s. 6d. each. Other show wethers sold at £6. £4 Ils., and £4 Is. Cd., and hoggets at up to £3 2s. Excluding show cheep, tho mutton yarding was particularly large, comprising about fifteen races. Beef was sent forward in average puinho-w. Store Shoop.—An average yarding and a poor sale, except for good ewes. Fairly good two and four-tooth ewes in lamb realised 20s. Id. to 255. 4d.; fairly good six and eight-tooth ewes in lamb, .21s. 4d. to 225. Gd.; ordinary four, six, and eight-tooth ewes in lamb, 16s. 7<l. to 17s. Bd.: sound and failing mouthed owes in lamb, 13s. to 175.; two and four-toot l ' wethers. Ils. 2d. to 13s. UH’- lour and six-tooth wethers, Ils. Bd. to 14s. 10d.: ewe los. to 10s. fed.; mixed sex hoggets, 9s. to 12s. lid.; wether hoggets, 9s. id. to 10s. Bd. Fat S-Wop.—A record yarding and an casing in prices. Prime wethers realised 19s. to 31«.: medium, 16s. to 18s. 9d.; inferior, 14s. to 15s. 9d.; prime ewes, 17s. to 225.; medium, 14s. to 16s. 9d.; inferior, Ils. to 13s. 6d.; hoggets, Ils. to 18s. 6d. Fat Cattle.—Prices advanced about 30s. head on those of the previous market. Extra prime steers realised £26; prime, £l5 to £l9 10s.; medium, £ll to £l4 10s.; light and inferior, £7 to £lO 10s.; extra prime heifers, £lB 10s.; prime, £lO to £l2; medium, £7 10s. to £9 10s.; light and. inferior, £6 10s. to £7 ss. j primo cows, £lO to £l4 10s.; ordinary, cows, £5 15s. to £9 15s. Vealers. —A sharp rise was experienced. Runners realised £6 10s.; good vealers, £5 to £5 10s.; medium vealers, £3 to £4; small vealers, £l-to £2 2s. 6d. 'otore Cattle.—A line of foui'-year Steers sold for £9. Dairy Cattle. —A keen demand and an advance in prices. Extra good cows, £lB 10s. to £23 10s.: second and third calvers. £8 to £l5 10s.; heifers, £9 to £l4; aged cows, £2 to £6. Fat Pigs.—An irregular sale, but special choppers went at £l6; choppers realised £3 10s. to £l6; extra heavy baooners, £7; heavy, £5 15s. to £6 10s.; light, £4 15 s. to £5 10s. (average price per lb.. 8ld.): heavy porkers. £4 to £4 10s.; light. £3 ss. to £3 15s. (average price per lb.. 101 d.). Store Pigs.—Au easier demand. Large stores realised £2 lO.s. to £3; medium. £1 10s. to £2 10s.; weaners, 255.; sows in pigs, £5 ss. JOHNSONVILLE FAT STOCK SALE Messrs. Abraham and Williams, Ltd., and Wright, Stephenson and Co., Ltd., report on the above salo held yesterday, as follows:—There was the usual amount of stock yarded, and prices on the whole must be considered satisfactory considering the quality of the stock yarded. Ox beef made up as high as 40s. per hundred. We quote: Sheep.—Best Wethers, 22 s. fid., 225. 10d., to 235. 5d.: light wethers. 18s. 3d., 18s. 10d.. 19s. Id., to 20s. 2d.; best ewes, 18s. lOd. io 19s. Id.; small ewes, 14s. Gd.; best lambs. 195.; others, 125., 12s. Cd., to 14s. fid. Cattle.—Best bullocks, £l4 ss. to £l5 155.; others, £l2 12s. fid.. £l3. io £l3 12s”fid Best cows. £7 to £8 55.; others, £5 12s. fid., £6 2s. fid.. In £0 17s. fid. Best vealers, £3 ss. to .lit 11s.; others, £2 Is., £2 55.. £2 95., £2 10s., to £2 15s. TALLOW STOCKS IN LONDON London, August 2. Tallow stock?, 8881 casks; imports 2686, deliveries 1012.—Aus.-N.Z. Cable Assn. COMMERCIAL ITEMS investment stiahes. a sale of 4» nor rent Inscribed Stock, <lllO 1959. nt .£B3 10s.. was reported yesterday. The quotations wore as follow:— Buyers. •Seller*’.

COMMERCIAL BANK. The balance-sheet of tho Commercial Bank of Australia. Ltd., dated June 30, contains the following informationPaidup capital, £2,319,667, increase for year £348,317; net profit for year, £237,772. increase fox' year £34,831; deposits £1.5.603,793. decrease for year. £763.334; advances, £11,748,336, increase for year £2,113.856: aggregate assets and liabilities. £38.995,740, decrease fo>‘ year £234,038. The coin, bullion and cash items total £6.918.530, being equal to 44.33 per cent, cf tho total deposits The ban” is paying the usual interim and ordinary dividends of 4 per cent, upon tho preference shares, and 15 per cent, on the ordinary shares, adding £241.658 from profits and premiums on new share issue to capital, and writing £lO.OOO off the value of bank premises. Thirteen new branches have been opened during the year, the bank now having 372 branches throughout Australia, New Zealand and in London. INSURANCE COMPANIES’ PARTNERSHIP. By Telegraph—Proso Amoelation, Auckland, August 3. Circulars issued to shareholders in the New Zealand and South British Insurance Companies state: “As a result of conversations between the directors of the companies the conclusion was arrived at that a complete partnership would materially further the Interests of both, and subject to the consent of tho shareholders an agreement to this effect has been entered into Already they are partners in the eastern States of America. The history of the two companies shows that, their underwriting profits have been just about equal. The only differences are that the New Zealand company has a larger return from its investments and has an uncalled liability on its shares cf £500.000 greater than the British company. These differences can be adjusted by the British company making an issue to its shareholders of 500.000 contributing shares of £1 each, and calling up such sum. estimated to be about 6s. Bd. per share, as would bring one company on an equality with the other, both as rsgardß Interest earning capacity and capital liability. A basis of equal partnership has been agreed to and as soon as possible after the close of the British company’s financial vear on August 31, definite proposals will be Laid, before shareholders of each company/’ CUSTOMS REVENUE. Customs revenue collected at the port of Wellington yesterday totalled £5508 15s. Id. PRICES OF METALS. Australian-New Zealand Cable Association. (Rec. August 3, 10.30 p.m.) London, August 2. Copper.—On spot, £7O 6s. 3d. per ton; forward delivery, £7O 13s. 9d Lead.—On spot, £23 12s. 6d. per ton; forward delivery, £23 2s. td. Spelter.—On spot. £25 ss. per ton; forward delivery, £26 2s. 6d. Tin.—On spot. £l5B 12s. 6d. per ton; forward delivery. £l6O 12s 6d. , Silver.—Bars, 38£d. per ounce standard. EXCHANGE RATES. Australian-New Zealand Cable Association. London, August 2. Foreign rates of exchange are quoted as follow —Paris. 46.83 francs to £1; Stockholm, 17.47 kroner; Christiania, 28.10 kroner; Berlin, 292 marks; Montreal, 4.C0 dollars: New York, 3.568 dollars; Calcutta, 15§d. to rupee; Hong-Kong, 33}d. to dollar; Yokohama, 32{d. to yen MINING NEWS WELLINGTON SHARE MARKET. Only Waihi shares were quoted in the mining market yesterday, as under:— Buyers. beilers. £ s. <l. £ s. d. Waihi 1 96 1 11 0 STOCK EXCHANGE. By Telegraph—Press Association. Auckland, August 3. Sales.-War Loan (1930) £B7 10s.; War Loan (1938), £B3 10s.; Inscribed Stock (1927), £9l- New Zealand Insurance. 295. 6d.. South British Insurance, ( 34s. 6d.; Northern Steam (eont), ss. lOd. LONDON STOCK EXCHANGE. Auatralian-New Zealand Cable Association. London. August 2. Broken Hill, buyers 40e. 6d.. sailers 40s. 9d.; Waihi Grand Junction, 9s.

£ «. d. £ R. (1. TnRcr’bpd St-ock, 1939 . ., 83 10 0 - TnFcrfbrrl Stock. 1 . .. 83 10 0 — Tnscribpd Sto p k. 1933 . 92 0 0 War Bonds, 1941 0 —

War Bonds, 1939 C3 10 0 — War Bonds, 1938 83 10 0 —— Bank Australasia 65 5 0 — Bank New Zealand 2 8 3 2 9 6 Union Bank — 12 10 0 Equitable Building 6 15 0 — National Insurance 2 18 0 — New Zealand Insurance 1 9 0 1 9 9 S.B. Insurance 1 15 0 1 16 0 Gear Meat 1 110 1 11 6 Huddart-Parker (ord.) ... 2 5 6 2 6 6 IjCyland O'Brion Timber 1 JO 0 111 6 N.Z. Paper Mills 1 0 9 —