FARMING & COMMERCIAL

Dominion, Volume 14, Issue 281, 22 August 1921, Page 8

FARMING & COMMERCIAL

NEWS AND NOTO

AUCTION SALES FOnTHCOMINO PIXTUREB. TO DAY. 157 Lambton Quay. Wellington, 130 p.m — Sale of uu claimed goods ‘Johnston and Co.). 151 Jackson Street. Petone, 2 p.m—Furniture sale (Vino and Wilson). TO-MORROW. 88 Vivian Street, Wellington, 10.30 a.m. —Furniture sale (Johnston and Co.). Levin Yards, 12 noon.—Stock sale WEDNESDAY, To Horo Yards. 12 noon.—Stock sale. Kiwitea, 12.30 p m.—Sale cf stock and implements (Murray, Roberts). ‘ WOOL TRADE MR. HUGHES’S VISIT TO BRADFORD MISCONCEPTIONS REMOVED London, August 19. The “Yorkshire Observer" remarks: “Air. Hughes’s visit to Bradford has done good in many ways. It lias removed iv few misconceptions on both sides. Mr. Hughes’s forcible frankness appealed strongly to his Yorkshire audience, for they appreciate a plain speaker and a hard hitter. Mr. Hughes’s defence took the form of an attack on the Bradford trade, but the greater part of his case rested on the assumption that Bradford wool users wanted Australian wool at less than the cost of production. Surely that was one of Mr. Hughes’s misconceptions. The wool trade wants cheap wool in the broad sense of the term, but that does not necessarily mean nt less than cost. The real point is that Bradford business men do not want to bo handicapped by reserve prices, which may be above the general level throughout the world. There has been the fear that growers’ representatives might ho tempted to tamper with fundamental economic laws in the endeavour to dictate wool prices.” The "Observer" asks: "Is it not sound policy to adopt every possible means to get the Australian wool surplus into consumption as rapidly as possible? Is there not a danger in fixing arbitrary reserves of retarding spies and prolonging unnecessarily the difficulties of the wool-growing Dominions?" —Aiis.-N.Z. Cable Assn.

OFFERINGS AT LONDON SALES PROPORTION OF B.A.W.R.A. AND FREE WOOL. (Rec. August 21, 5.5 p.-m.) London, August 19. The arrangement regarding the proportion of B.A.W.R.A. and free wool at the London sales lasts till the end of the year. B.A.W.R.A. .is permitted to malm up the proportion of two to one by outside sales at Antwerp, Hull, and Liverpool. Tho offerings at tho London series commencing on August SO will consist of 8000 Australian and .00,000 NewZealand free wool; 53,000 Australian and 7000 New Zealand B.A .W.R.A.; 17,000 napes from Punta Arenas. The offerings at the October sales will comprise 50,000 free and 00.000 B.A.W.R.A.’s and those at December sees 54.000 free and 00,000 B.A.W.R.A. London and Yorkshire wool circles strongly oppose any extension of B.A.W.R.A.’s operations or regulations governing exports.—Aus.-N.Z. Cable Assn. FROZEN MEAT LONDON QUOTATIONS. (Rec. August 21, 5.5 p.m.) London, August 19. Mutton. New Zealand ewee, sjd. per lb. Lamb. Canterbury light 13sd., medium, 13id.j second quality, 13’d Southland, 13ld. North Island, 13Jd. South American, light Is., heavy lOld. Beef. New season’s New Zealand fores, 4d. per lb. Australian crops, 3}d.; hinds, Gd. Frozen Argentine, fores 4Jd. Uruguay, fores. 3Jd.; hinds, GJd. Chilled Argentine, fores, 6d.; hinds, Is. —Aus.-N.Z. Cable Assn. LONDON SHEEPSKINS SALES Messrs. Murray, Roberts and Co.. Ltd., have received the following cablegram from their London agents, Messrs. Sanderson, Murray, and Elder. Ltd., dated August 19:— “Sheepskins: Merinos and fine crossbred, market firm; low sorts neglected. Where sold, prices 10 per cent lower.” ENGLISH BEEF TRADE ARGENTINE' MEAT DEARER THAN QUEENSLAND. (Rec. August 21, 5.5 p.m.) London, August 19. Mr. -T. M- Hunter, Agent-General for Queensland, interviewed by the “Meat Trade Journal,” said: —“The present serious condition of the beef trade must be ended or mended quickly. It is impossible for the industry to stand the present losses. Tho preference which the trade and consuming public are showing for Argentine beef reflects no credit on their health or heads. Prior to the war Argentine and Queensland beef sold at the same price; now Queensland is 3d. per lb. below Argentine. The only apparent reason is that Australia was self-sacrificing, enough to allow the Army to have meat during the war. There is no complaint regarding the quality of Queensland meat, which' is subject to the same .rigid Government inspection. Australia gives British goods in-eiercnce of 121 per cent., ami is entitled at least to equality of treatment with foreign traders-’’—Aus.-N.Z. Cable Assn. COMMERCIAL ITEMS INVESTMENT SHARES. Saturday’s quotations for investment I shares were as follow:— Buyers. Sellers.

STANDARD INSURANCE COMPANY. The annual report of the Standard Fire and Marine Insurance Company for the year ending June 30, states that the net income for the year amounted to £202.982 Bd. and the expenditure to £175.899 tbs. lid., leaving a balnnce»of £27.062 13s. 9d„ to which had to be added the balance carried forward from last year, viz, £6583 ss. 6d.. malting a. total of £33,665 19s 3d From thia an interim dividend was paid in March last amounting to £7500 leaving an available balance of £26.165 19s. 3d., which 11>« directors have dealt with in the following manner: Io appropriation for depreciation ct securities. £10,06'0; to guarantee and provident fund, £2000; and recommend that the balance he appropriated ns follows: lo pay a dividend for half year ending June SO.

1921. at the rate of Is. 6d. per shnr*, 417500; to carry forward to next year, £6665 19s. 3d.; total £26,165 19s. 3d. Full provision has been made in the accounts for all ascertained losses to the close of tire year. The dividend of Is. fid. pcishare, now recommended, if approved by tho shareholders, will be payable at the company’s offices immediately after the meeting, and at branches upon receipt of advice. Messrs. John Mill and Ernest Price retire from the directorate as provided by the Articles of Association. Both are eligible and offer themselves for reelection. CUSTOMS REVENUE. Customs revenue collected at the port of Wellington on Saturday totalled £4305 2s. 2d. LONDON MARKET REPORTS. Australian-New Zealand Cable Association. (Rec. August 21. 5.5 p in.) London, August 19 Cotton—The Liverpool quotation for American making Upland cotton, September delivery, B.&>d. per lb. Copra.—The market has relapsed owing to further speculative realisations and the absence of demand from crushers. South Sea August-October delivery fell to £3l per ton, and hardened again to £33 ss. New Zealand Hemp.—Dull.; August-Oc-tober delivery, £3B per ton. -lute.—Firm. Old crop August-September delivery. £27 12s. fid. Rubber—Fino hard nara, 12}d per lb.; plantation, first latex crepe, B*d.; smoked ribbed sheet. Bld. Lin=eed 0i1.—£37 per ton. Turpentine.—Ms. per cwt.

MINING NEWS WELLINGTON SHARE MARKET. The following quotations were recorded in the mining market on Saturday:— Buyers. Sellers. £ s. d. £ s. d. Waihi 10 6 — Waihi Grand Junction — C 9 0 STOCK EXCHANGE. By Telegraph —Press Association. Dunedin, August 20. Sales Reported.—New Zealand Insurance, 295. 3d.; Bank of New South IVales, £35 18s

f; s. d. £ 8. d. Inscribed Stock, 1939 83 10 0 83 17 6 Inscribed Stock, 1933 63 12 6 83 17 6 Inscribed Stack. 1933 — 92 0 Q War Bonds, 1939 S3 10 0 — War Bonds, 1938 83 10 0 83 17 6 War Bonds. 1930 87 5 0 29 0 0 Bank Australasia 88 10 0 —* National Bank 5 9 6 —— Bank New Zealand 2 9 0 2 9 9 Union Bank 12 8 0 12 10 0 Well. InvcBinient — 0 10 0 National Insurance 3 2 6 — New Zealand Insurance 1 9 0 19 6 South British Insurance 1 15 0 — NZ; Refrigerating <10s 1 0 16 3 0 16 6 1 11 0 1 12 6 Meat Export (-£3 .12b. 6d *1 • t 0 Tluddart-Parker 'ord.) ... — 2 5 3 Union Steam (pref.) ... 0 18 0 0 19 0 Westport Coal 1 7 0 — Waipa Coal o 16 n Ley land-O’Brien Timber 1 10 6 —— Kirkcnldio and Stains 0 17 9 —I— N.Z. Paper Mills — i e 6 Wa i ra rapa Fa rmors (pref.) — 0 17 0