NEWS AND NOTES

Dominion, Volume 14, Issue 277, 17 August 1921, Page 8

NEWS AND NOTES

AUCTION SALES

FORTHCOMING FIXTURES. TO-DAY. 157 Lambton Quay, Wellington, 10.30 a.in.— Furniture sale (Johnston and Co.). Thompson Street. Wellington, 1.30 p.m.— Furniture sale (8. G. Nathan). 162 Sydney Street, Wellington, 1.50 p.m.— Furniture sale (Sloane and Jones). 157 Lambton Quay, Wellington, 1.30 p.m.— Sale of electrical fittings (Johnston and Co.). Johnsonville Yards, 2 p.m.—Stock sale. TO-MORROW. Halcombe Yards, 12 noon.—Hogget fair (Abraham and Williams). Hautcre Cross. 12 noon.—Sale of stock and implements (N.Z. Loan Co.). Upper Hutt Yards, 1 p.m.—Stock sale. Customhouse Quay, Wellington, 2.30 p.m.— Property sale (H. E. Leighton). FRIDAY. Waikanae Yards, 1 p.m.-Heifer sale (N.Z Loan Co.). 7 Mount Street, Wellington, 1.30 p.m—Furniture sale (Hodgkins, Carver). 141 Manners Street, Wellington. 1.30 p.m.— Poultry sale (Wheatley and Co.). LONDON MARKETS HIGH COMMISSIONER'S CABLED REPORT. Tho Department of Agriculture has received the ,following cablegram, dated August 13, from the High Commissioner for New Zealand, London:— Meat. Beef market firmer, but mutton and lamb market shows signs of weakness owing to quicker discharge at docks and to good supply of Scotch lamb, which is selling at average price of Is. 4d. per lb. Quotations are: —Now Zealand mutton: Lightweight,i August 13, SJd.; August 6, Bjd.; July 30, 7Jd, 81d. Heavyweight, August 13, 6RL; August 6, 6}d.; July 30, s!d„ Gid. Ewes, August 13, sd„ 53d.; August G, 5d., 5Jd. N.Z. lamb: Lightweight, August 13, Is. I'd.; August 6, Is. Rd.; July 30, Is. 2d. Heavyweight, August 13, lid.; August 6, Is.; July 30, Is. N.Z. beef, best quality ox, this season’s: Hinds, August 13, 6d.; August 6, sd, 7d.; July 30, fid, 7d. Fores: August 13, 3}d. ; August 6, 3£d, lid.; July 30, 3Jd„ lid. Last season’s hinds: August 13, sj<l, Fores: August 13, 3Jd. Argentine chilled, hindp: August 13, URL; August G, 9.1 d.; July 30, 9d, 104 d. Fores: August 13, 5Jd.; August G, IRL; July 30, -Id., sd. Negotiations proceeding for sale by Board of Trade to nominated agent of remaining 225,000 carcasses of New Zealand ewes. Will telegraph full particulars when available. Butter. Demand more active, but Home supplier continue very short. Irish in bettor request, prices irregular but tendency firmer. Danish, market steady: August 13, 26Gs. to 2GBs. per owl. (2s. 4Jd to 2s. 4-Jd. per lb.); August 6, 2585. to 2625. per cwt. (2s. 31d. to 2s. 4d. per lb.); July 30, 2605. to 2645.. per cwt. (2s. 3Jd to 2s. 4|d. per lb.). New Zealand:. August 13, 2595. to 2625. per cwt. (2s. 3Jd. to 2s. 4d. per lb.); August G, ditto; July 30, ditto. Australian— (1) First and second grade, (2) unsalted: August 13, (1) 2385. to 2445. per cwt. (2s. 1 Jd. to 2s. 2}d. per lb.); (2) 2435. to 2495. per cwt. (2s. 2d. to 2s. 2Jd. per lb.). August 6, (I) 2395. to 2415. per cwt. (2s. 1-Jd. to 2s. IJd’ per lb.); (2) 2445. to 24lis. per cwt. (2s. 2d to 2s. 2Jd. per lb.). July 30. (1) 2365. to 2415. per cwt. (2s. IJd. to 2s. l‘]d. per lb.) Argentine: August 13, 210 s. to 2305. per cwt. (Is. IOJd. to 2s. OJd. per lb.); August G, 2145. to 2285. per cwt. (Is. lid. to 2s. OJd. per lb.); July 30, 2145. to 2285. per cwt. (Is. lid. to 2s. OJd. per lb.). Government ex store price: New Zealand, Ist and 2nd grade, August 12 to 19, 2625. per cwt. (2s. 4d. per lb.). Australian, Ist grade salted, August 12 to 19, 2455. per cwt. (2s. 2Jd. per lb.); Ist. and 2nd grade. 2425. per cwt. (2s. l-Jd. per lb.); .unsalted, 2475. per cwt. (2s. 2Jd. per lb.), Argentine, salted and unsalted not sorted to mark: August J2 to 19, 2255. per cwt. (2s. per lb.) Cheese. Market firmer for English which remains in small supply. Finest farmers’ 160 s. to 1655. per cwt. (Is. 5Jd. to Is. s}d. per lb.). Canadian, in good demand: August 13, white, 1345., 1365. per cwt. (Is. 2J<I. per lb.); coloured 1325., 1345-. per cwt. (Is. 2Jd. per lb. and up); occasionally, white, 138 s. per cwt. (Is. 2Jd. per lb.), to (coloured) 1365. per cwt. (Is. 2)d. per lb.); August 6, white, 1325., 138 s. per cwt. (Is. 2d., Is. 2RI. per lb.); coloured, 1325., 1365. per cwt. (Is. 2d., Is. 21d. per lb.); July 30, white, 1345., 1365. per cwt. (Is. 2Jd. per lb.); coloured, 1325., 1365. per cwt. (Is. 2d., Is. 21<1. per lb.). New Zealand: August 13, white, 1365., 138 s. per cwt. (Is. 2Jd. per lb.); coloured, 1325., 1345. per cwt. (Is. 2-Jd. pel- lb.), and up to, white, 140 s. per cwt. (Is. 3d. per lb.),- to, coloured, 13Gs. per cwt. (Is. 21d. per lb.); August G, white, 1325., 110 s. per cwt. (Is. 2d., Is. 3d, per lb.); coloured, 1305., 1365. per cwt. (Is. 2d., Is. 2Jd. pvr lb.); July 30, white, 1325, 1365. per cwt. (Is. 2d., Is. 2Jd. per lb,); coloured, 1265., 1325. per cwt. (Is. lid., Is. 2d. per lb.). Australian: August 13, white, 1205., 130 s. per cwt. (Is. OJd, Is. 2d. per lb.); coloured. 120 s, 130 s. per cwt. (Is. OJd, Is- 2d. per lb.); August 6, white, 1285., 1325. per cwt. (Is. ]sd, Is. 2d. per lb.); coloured. 119 s. Gd., 1265. per cwt. (Is. OJd., Is. 110. per lb.); July 30, while, 124s’„ 130 s. per cwt. (Is. I’d., Is.' 2d. per lb.); coloured, 1205., 1245. per cwt. (Is. ORI., Is. Lid. per lb.). Casein. Market unchanged. French rennet .010; Argentine lactic, <£so per ton. Hemp. Manila market quiet and steady. “J” grade August-October shipment sold £3B 10s. per ton. June-August and July-Sep-teiubcr shipments quoted at 'same price. New Zealand market steady, but business restricted on account of high price' asked in Dominion. Quotations unchanged. Probable .buyers highpoints about £36* 10s.; fair, £34 per ton. Wool. Bradford, better tone reported, though very little new business. Manufacturers still unable to clear their high-priced stocks. Present quotations for tops are: G4’s (merino), August 13, 35.; June 25, 3s. 7<l. 56’s (super halfbred), August 13, 2s. Id.; June 25, 2s. 6d. 40’s prepared (coarse crossbred), August 13, Is.; Juno 25, Is. Id. , Honey. Improved tone for cheaper kinds. New Zealand market quiet and nominally unchanged. SYDNEY WOOL SALES IRec. August IG, 10.5 p.m.) Sydney, August 16. The third series of wool sales has closed. Good merinos and fine crossbreds were unchanged, but coarse and inferior lots were irregular.—Press Assn. THE MEAT MARKET IN FRANCE A Palmerston North business man who Visited France last year has just received a. letter from a Paris business firm, in which the following passage occurs:— "Conditions over here have gone through i a wonderful change since you were here. 1 In fact, business is almost at a standstill. There is no movement on tho Continent of frozen beef, and very little in frozen mutton. The big drop in prices has frightened buyers, and noIxidy will purchase firm in advance; therefore it is just a question of doing business from hand-to-mouth, and it almost pays us better to sit still ami do no business, because one dots not know from minute to minute what, is going to happen I have never experienced in

all my life such a condition as we are passing through here just now. We had all hoped that things would improve after the Germans had made a payment, but it has not made much difference yet. However, wo all think that business must recover in the near future. otherwise we will all have to shut up shop.”

COMMERCIAL ITEMS

INVESTMENT SHARES.

WANGANUI WOOLLEN MILLS. LTD. The report presented at 1 the first annual meeting of the Wanganui Woollen Mills,, Ltd expressed regret that owing to tho difficult financial times through which the whole world was passing, the progress of the. company had been held up so far as buildings and machinery and plant were concerned. A property at- Aramoho (a suburb of Wanganui) of about 10 ncres had been purchased, subject to road access being provided by the vendor. When this was complete the company would possess a very valuable mill site, with railway frontage, and a stream of permanent water on the property. Soon after the flotation of the company, the directors foresaw that market conditions were likely to change, and after full consideration it was decided t'o hold over definite action regarding buildings and plant. Prices had since altered consideracbly. and this action would result in tho saving of many thousands of pounds, and overhead charges would thereby: be lessened. Tho bottom point of the market had not yet been reached, and the directors were carefully watching tho situation. One of the directors. Mr. J. A. Doherty, now in England on private business, had devoted a very considerable amount of time to the inspection of woollen mills, and to gathering" valuable information regarding machinery and the most modern processes of niaxiufactlire. As Mr. Doherty expected to leave for New Zealand shortly, the directors had decided not to proceed with tho buildings and ordering of machinery until his return. The funds of the company were meanwhile invested on fixed deposit with the National Bank of New Zealand, and at eall with the Wanganui Borough Council, and earning good interest. It was not anticipated ihat any calls on shareholders would be required to be made for some considerable time, as the funds available would be sufficient to carry on until the bulk of the machinery and plant was ready for shipment to Wanganui. The directors are: Messrs. W. J. Polson, fl. N. Raggett. >S. M. Davis. J. A. Doherty, P. Higginbott.om. G. L. Marshall, Allan Robinson, and John Stevenson. Messrs. Robinson and Stevenson retired under the articles of association, but were re-elected at the meeting. Mr. U. Hague-Smith was elected auditor. CUSTOMS REVENUE. Customs revenue collected at the port of Wellington yesterday totalled £4454 9s. tod. EXCHANGE RATES. Australian-New Zealand Cable Association. (Rec. August 16, 5.5 p.m.) London, August 15. Foreign exchange rates are quoted as follow: —Paris. 46.86 francs to £1; Stockholm, 17.39 kroner- Christiania, 28.33 kroner: Copenhagen 23.04 kroner; Berlin, 311 marks: Montreal. 4.08 dollars; New York, 3.67 dollars; Calcutta, 15Jd. to rupee; Yokohama, 31M. to yen; Hongkong, 32id. to dollar. PRICES OF METALS. Australian-New Zealand Cable Association. (Rec. August 16, 10.5 p.m.) London, August 15. Copppr.—On spot, £69 18s. 9d. per ton; forward delivery, £7O 6s. 3d. Lead.—On spot, £23 12r.. 6d. per ton; forward delivery. £23 ss. Spelter.—On spot, £25 10s. per ton; forward delivery, £26 2s. 6d. Tin.—On spot. £155 7s. 6d. per ton; forward delivery, £156 12s. 6d. Silver. —Bars, 38d. pet- ounce standard. MINING NEWS WELLINGTON SHARE MARKET. The quotations recorded in the mining market yesterday were as under:— Buyers. Sellers. £ s. d. £ s. d. Waihi 110 — Waihi Grand Junction . — 0 9 6 STOCK EXCHANGE. By Telegraph—Press Association. Auckland, August 16. Sales: Soldiers' Bonds, £92 2s. 6d.; Soldiers’ Inscribed Stock. £92 2s. 6d.; Blink of New Zealand, 495.; South British 'lnsurance, 355. 6<L; Auckland Gaa, 225. 6d.; Union Steam (pref.), 18s. 9d.: Auckland Trams, 13s. 9d.; Grand Junction, 9s. Christchurch, August 16. Sales reported: Bank of New South Wales, £35 155.; Union Bank, £l2 7s. (two parcels). Dunedin, August 16. Sales: Bank of New Zealand, 495. (three); Westport-Stockton (ord.), 7s. (two); Soldiers’ Settlement, Inscribed, £92 2s. 6d. <two), £93 (one). LIVE STOCK SALES Messns. Dalgety and Cq., Ltd., Palmerston North.,report having a fair yarding of both nheep and cattle at their Mangawcka sale on Thursday. Quotations: Fat ewes, 135.: light fat wethers, 14s. Id.; forward bullocks, £6 55.; light fat bullocks, £7 Is.; backward dairy cowa, £6 to £6 2s. 6d. The New Zealand Loan and Mercantile Agency Co., Ltd., Palmerston North, report:—At our Kongotoa sale on Wednesday there were light yardings of both sheep and cattle. Bidding was dull, but the bulk of the yarding was quitted at iate rates:—Good springing cows, £l2 to £29 5s ; aged three-quarter cows. £3 to £4 10s : good forward cows, to £3: good fat hoggets, 14s. 7d. to 15s. 3d. At our Palmerston North sale on Thursday, we had a small yarding of sheep and cattle, and these we quitted at tho following rates:—Small m.a. ewes, r.w. Romney rams, Bs.; f.m. ewes, with lambs, Ss.; 3-year Jersey springing heifers, £J,2; good springing, cows, £l4 10s. to £l5 10s.

Yesterday's quotations for investment shares were as follow:— Buyers. Sellers. £ e. d. £ a. d. War Bonds, 1938 83 10 0 — P.O. Bonds, 1927 — 92 10 0 P.O. 11130. Stock, 1927 .. — 92 10 0 National Bank 5 10 0 ■—■ 2 8 9 — 12 5 0 12 8 0 Goldabrough Mort 1 9 6 Wellington Gas (ord.) ... 8 15 0 N.Z. Insurance 1 9 0 1 9 9 Standard Ins. (cum.) .... 2 10 6 — N.Z. Refrigerating (10s.) 0 16 0 — Gear Meat — 111 6 1 12 3 Meat Export (£3 12s. 6d cum.) ■••••••• Huddart-Parker (ord.) .. 3 3 0 2 5 6 Union Steam (pref.) 0 18 3 0 19 0 Well. Woollen (ord.), cum 8 7 6 Jlikurangi Coal 0 8 6 —* Levland-O’Brien Timber 1 11 0 1 12 0 N.Z. Drug 2 13 0 — Wilson’s Cement 0 14 9 —