FARMING & COMMERCIAL

Dominion, Volume 15, Issue 14, 11 October 1921, Page 8

FARMING & COMMERCIAL

KBWS AND NOTES

AUCTION SALES FORTHCOMING FIXTURES. 4 TO-DAY. Levin Yards, 12 noon.—Stock sale. 1-11 Manners Street, Wellington, 1.50 p.m. —Poultry sale (Wheatley and Co). 157 Lambton Quay, Wellington, 2 n.m.— Sale of galvanised iron (Johnston and Co.). 157 Lambton Quay, Wellington, 1.30 p.m. —Unclaimed cargo sale (Johnton and Co.). 134 Featherston Street, Wellington, 2.30 p.m.—Property sale (Bethune and Co.). TO-MORROW. Timber Bay. Dnnnevirke, 1 p.m.—Sale of purebred bulls (Wairarapa Farmers). Otakl Yards, 1 p.m.—Stock sale. 23 Frond! Street, Wellington. 1.30 p.m.— Furniture sale (Vino and Wilson).. Johnsonville Yards, 2 p.m.—Stock sale. Yule Street, Lyall Bay, 1.30 p.m.—Sale of property and furniture (H. Leighton). 195 Lambton Quay, Wellington, 2 p.m.— Sale of tearoom plant and lease (Harcourt and Co.). THURSDAY. Upper Hutt Yards, 1 p.m.—Stock sale. LONDON MARKETS HIGH COMMISSIONER’S CABLED REPORT The Department of Agriculture has received the following cablegram, dated October 8, from the High Commissioner for New Zealand, London: — Meat. Market depressed, and fall in mutton and lamb prices continued owing to ca'uses mentioned last week, viz:,(l) Large quantity of frozen meat in store and discharging; (2) low price accepted for Argentine meat; (3) holders forced to realise by Banks; supplemented by hot weather decreasing demand. Market somewhat steadier now than early this week. Beef, frozen, selling slowly; chilled in good supply. N.Z. mutton, lightweight: October 8, 7d., 7’d.; October 1, 7jd„ bd.; September 24,’7jd., Bd. N.Z. mutton, heavyweight: October 8, 4sd., 5Jd.; October 1,51 d.; September 24, sd. N.Z. ewes: October 8, 4Jd.; October 1, 5Jd.; September 24, s}d. N.Z. lamb lightweight: October 8, BJd., 9{d.; October 1,10 d„ IOJd.; September 24. 11 Jd. N.Z. lamb, heavyweight: October 8, 74d.,*8Jd.; October 1,91 d.; September 24*, IOJd. N.Z. beef, prime ox, October 8, hinds 6d„ fores 4Jd.; October 1, hinds 53<L, fores- 4Jd.; September 24, hinds 6d„ fores 41d. Chilled beef; October 8, hinds 71d., fores sid.; October 1, hinds 71d., fore< 5d.; September 24, hinds Bd., fores 4Jd. Retail prices chilled beef quoted last week were averaged from reports covering various periods last month, bnt dropped considerably over week-end. Please, therefore, amend as follows:— Sirloin: October .1, Is. 5d.; October 8, Is.. 3ld. Ribs: October I, Is. 6d.; October 8, Is. 3d. Rump steak: October 1, 25.; October 8, Is. Bd. x Butter. Market very little change, and with continued shortage homo supplies, majority of business doing affects only Danish and Government colonial stocks. Danish is in fair and steady demand. October 8, 2285. to 2305. per cwt. (2s. OJd. to 2s. OJd. per lb.). October 1, not quoted. September 24. 2265. io 2305. per cwt. (2s. Old. to 2s. o{d. per lb.). . Irish, creamery: October 8, salted, 1705., 184 s. per cwt. (Is. ls. 7RI. per lb.); unsalted, 1905.. 3955. per cwt. (Is. 83d., Is. fid. per lb). October 1, not quoted. September 24, salted. 1855.. 190 s. per cwt. (Is. 7RL, Is, 81d. per lb.); unsalted, 19ftL, 200 s. per cwt. (Is, Bid., Is. 9Jd. per lb). Government stocks selling slowly, considerable portion of which shows signs of lengthy storage, and buyers waiting new season’s arrival. Trade anticipates these will command premium. Now Zoalmd?: October 8, 2055. to 210 s. per cwt. (Is. lOd. to Is. lO.ld. per lb.); October 1, 2055. to 210 s. per cwt. (Is. lOd. per lb.). Australian: October 8. 180 s. to 184.5. per cwt. (Is. 7Jd. to Is. 7jd. per lb.); October 1,180 s. to 184 s. per cwt. (Is. Tid. to Is. 7Jd. uer lb.). Australian, free: October 8. 1555. to 184 s per cwt. (Is. 4ld. to Is. 7’d. per lb.); October 1, 1555.- to 184.3. per cwt. (Is 4Jd. to Is. 7’d. per lb.); September 24, IROs. to 1945. per cwt. (Is. s}d. toyls. B}d. per lb.). Cheese. Market steadier, with better demand. English, .finest farmers’: October 8, 130 s to 14Os. per cwt. (Is. 2d. to Is. 3d. per’lb.). October 1, 130?. to 140 s. per cwt. (Is. 2d. to Is. 3d. per lb.); Septem ber 21, :1555. to ICOs. per cwt. (Is. 4ld. to Is. sid. per lb.). Canadian: October 8, white, 108 s. per cwt. (11}<1. per lb.); col Hired, 104 s. per cwt. (lid. per lb.). October 1, white. 1025., 106 s. per cwt. (IOJd., Iljd per lb); coloured, 100 s.. 104 s. per cwt. (10? d. lid. per lb.). f4eptember 24. white, 1045., 110 s. per cwt. (lid., 113 - ner llrt; coloured, 1025., 106 s. per cwt. (lOiJd.. Iljd. per lb.). New Zealand: October 8, white. 1025., 1013. per cwt. (IOJd., lid. per lb.); coir cured, 945.. 965. per cwt. (10d., 101 d. per lb.l October 1. white, 9*>., 100 s. per ■cwt. (ibid.. 10>d. per lb): coloured, 945., 965. per cwt. (10d., lOld. per 1b.3. September 24, white, 1025., 106 s. per cwt. (10Jd., URL net- lb.): coloured, 905., 100 s. per cwt. (9RL, IOJd. per lb.). Hemp. Manila market firm and steady. J grade July-September and August-Octo-ber shipments sold ,E 39 155., SeplemberNovcmber and October-December shipments sold .£4O per ton. New Zealand met fair continental demand early this week, and fair quantity "old by secondhand holders on the basis of: Highpoints. October-December and JanuaryMarch shipments <£3B 10s. to X3fi. fair, ditto. <e.3G 10s. to £37 per ton. Demand eased off later, and quotations now about ss. per ton lower. Shippers not offering, asking higher price. Spot value highpoints alKMit £l2 10s'., fair £3B per ton. Wool. Bradford (one firm, Antwerp sales having confirmed upward movement London Liverpool sales. Offerings nt next Lon■don series commencing October 11 will be 150.000 bales, of which 72,000 bales B.A.W.R.A. and 78,000 bales privately owned. ARMOUR AND CO. FARMERS ENDORSE GOVERNMENT’S ACTION. The position of the New Zealand Government in refusing to grant a meat export license to the United Kingdom to ?lrmour and Co. was discussed at yesterday’s meeting of the Dominion executive of the New Zealand Farmers' Union, when e. letter was read from the Minister of Agriculture, tho Hon. W. Nrxsworthy, in acknowledgment of the resolution passed at the annual eon'feronco supporting the action of tho Government in denting with the question of the American meat trusts. "The feeling of the conference in passing these resolutions is,” wrote the Minister, "greatly appreciated by the Government at the present time. Legislation already passed has been of great value in assisting the Government in its intention of preventing trust or-com-bine methods being adopted by large meat companies or combinations having their real 'headquarters outside New Zealand, and the members of your union can rest assured that a great deal more has been done in this direction than the Government is able to make public. "With regard to Messrs. Armour and Co. tho question of their position is bolug actively dealt with at the present

time. With regard to Vestey Bros., ape. cial correspondence has lately taken plaoo between the Government and the High Commissioner relating to matters connected with this firm’s operations, and in addition very special supervision is being exercised regarding their business operations in the Dominion. "While appreciating tho importance of the resolutions embodying the opinion that the Government should take immediate and effective steps to stop Vestey Bros, and the latter’s various organisations from operating in New Zealand, I do not consider that actual evidence of wrong practices by this firm is available which would warrant such an extreme course of action being taken.” The president (Mr. W. J. Polson) said that while he was up against all trusts and supported the Government’s action, he failed to see why Armour and Co. should be singled out. He was not in favour of this firm being allowed to operate, but what was wanted was comprehensive legislation aiming at the suppression of all trusts. What was the uso of tho producers propounding schemes for the development of co-oper-ative handling and marketing, when foreign combines were being allowed to capture the freezing works in the Dominion? Tho Government were chasing a shadow in concentrating all their efforts on Armour and Co. and neglecting to deal with*’combines that with the approval and consent of the Government were obtaining a controlling interest in the freezing industry. Further discuesioij of tho matter was taken in committee, and the upshot was the adoption of the follow ing motion:— . , "That this exocutivo supports the Government in its attitude regarding Armour and Co., and is confident that the Government will use its knowledge in the best interests of the producers.” The executive also reaffirmed the resolution of the last annual conference touching tho general question of trusts and. combines. WOOL SALES AND EXPORTS TOTALS FOR SEPTEMBER. Sales of wool in New Zealand during September, according to returns compiled by Messrs. Dalgety and Co., were

EXPORTS OF TALLOW Exports of tallow to United Kingdom and Continent from New Zealand during September, were as under:— Cones-

Sales of tallow in New Zealand during September totalled 80 tons. DAIRY PRODUCE ’* Messrs. Dalgety and Company, Limited report, having received the following cablegram from their London house under date October /- Butter.—Market steady, but quiet. Danish, 228.=. to 2.305.; Australian, 155 s to 18-ls’: New Zealand, 2045. to 208 s. Cheese.—Fair demand. New Zealand, coloured, 90s. to 965.. white 98s. to 1045.; Canadian c.i.f. quotation, 965. to 100— Messrs. A. 11. Turnbull and Co. have received the following cablegram from Me=srs W Weddell and Co.. Ltd.: — “Danish butter. 2285. to 2305.; New Zealand, 2055.; little more doing. "Cheese, white. 102=. to 1045.; coloured unchanged, fair demand best quality. M SHEEPSKINS Messrs. Dalgety and Company Limited report having received the following 'cablegram from their London house under date October B.—• Seven thousand eight -hundred and fifty bales of sheepskins offered and practical y all sold. Merino clothing skins merino combing skins, and clrossbred fine combing skins are 20 per cent, higher Inferior short-woolled and shorn noils crossbred coarse and medium comb'skins, and crossbred clothing skins arc 15 per cent higher as compared with last sheepskin sales’ closing rates. Messrs. Murray, Roberts and Co. yesterday received a cablegram, from their London friends, Messrs. Sanderson, Murray and Elder. Ltd., dated October 8. reading as follows:— Sheepskins, merino and fine crossbred, have advanced 20 per cent. Sheepskins, other descriptions, have advanced 15 per. cent. Market at-'ong; nothing bought in. LIVE STOCK RALES Messrs Abraham and Williams, Ltd., report on Feilding sale on .October 7 a good varding of both sheep and cattl" came forward Good dairy cows and h-ifers were in good demand. We quoteFat ewes 13s. 3d.. 12s. 4d., 13s. 4d., to 155.; , fat wethers. 15s. 3d. »o 17s. 3d.: mixed horgots. Be. 6d. to Ils. 3d.: springing Jersey cross heifers. £lO, .£l2 55., £l3, £l4, I 1 £l4 10s., £l5, £l6 55., to £2O; springing I <

cown, £8 10b. £l2, to £l4 store cows, 30b.; yearling nteera. 10s. 6d-. Hs.. to 125.; two-year steers. £2 45.; yearling horn heifers, £2 17b.; fat. cows, to £7 2b. 6d.; Jersey bulls, yearling, £l2 10s. to £l5; Holstein bull. £7 ss. Jfeesrs. Abraham and Williams, Ltd., had small yardlngs nt Huntervillo and Mangaweka sales last week, which Bold as below:-At Hunterville: Mixed-sex hoggets, Bs.; fat ewes. 10s.. 10s. 7d. ;• mixed-sex fats, 10s.; springing heifers. £4, £7; bulls, 20b. , £2; we.iner pigs. 205.. 245. At Mangaweka: Two-year Hereford steers, £2 55.; yearling do.. 15a., 225. 6d.; dairy cow. £7 2s. od.

.COMMERCIAL ITEMS

INVESTMENT SHARES. Teste.rday's qiiotations for investment shares were as follow:— Buyers. Sellers.

AUCKLAND STOCK EXCHANGE QUOTATIONS. Auckland, October 10. Banks: Australasia (ex div., sellers £B9. buyers £B5; National, buyer, £5 Ils.; New South Wales, buyers £35 5b.; New Zealand. sellers 51s. 9d., 60s. 6d.; Union, sellers £l2 15s , buyers £l2 9s. Insurance: National, sellers 60s. 6d.. buyers 605.; New Zealand, sellers 295., buyers 28s. 6d.; South British, sellers 365., buyers 355. 9d.; Standard, sellers 625.. buyers 50b. New Zealand and River Plate, sellern 17s. 9d., buyers 175.; Loan and Mercantile. sellers £B4, buyers £Bl. Tauplri Coal, seller, 175., buyers 16s. 9d. Huddnrt-Parker, sellers 455. 3d., buyers 44,.; Union Steam, sellers 28s. 6d. Kauri Timber, sellers 26,.. buyer, 24,. 9d.; Colonial Sugar, Australia, buyers £26 155.; New Zcn-land Drug, buyer’s 545.; Paner Mills, 235. 9d.. 225. 9d. New Zealand Refrigerating, sellers 325.; contributing, sellers 17s. Wilson’s Cement, sellers 15s. 3d. Waihi, sellers 225. 3d., buyers 21s. 6d.; Grand Junction, sellers 9s. 4d., buyers Bs. Bd. War Loans. 1930, buyers £88: 1938. buyers £B5; 1939. buyers £B4 155.; 1927. buyers £9l; Goldiera' Bonds, sellers £9l 17s. 6x1., buyers £9l 15,.; Inscribed Stock, 1938. buyers £B5; 1939. buyers £B4 155.; Soldiers’ Inscribed, sellers £9l 17s. 6d., buyers £9l 15s. CUSTOMS REVENUE. Customs revenue collected at the nnrt of Wellington yesterday totalled £3073 3s.

MINING NEWS WELLINGTON SHARE MARKET. The quotations recorded yesterday for mining shares were as under:— Buyers. Seller, £ a. d. £ s d. Blankwater Mines — 0 5 0 Waihi 116 - STOCK EXCHANGE. By Telegraph—Press Association. Auckland, October 10. ■Sales: —Bank of New Zealand. 515.: National Insurance, 605.; Standard Insurance, sts.: Westport Goal. 28).• Auckland Gas (contributing). 275.; Wilson's Cement, 155.; Grand Junction, Bs. 6d.. Bs. Bd. Christchurch. October 10. Salo reported:—National Insurance, £2 19s. 9d. Dunedin, October 10. Sale: Soldiers’ Settlement, inscribed stock. £9l 17s. 6d. Sale reported:—South British Insurance, 365.

as under: — Corresponding 3 months, Sept., 1921. Off. Sold. Totals for 1920. 3 months. Oil. and Off. Sold.. Sold. Invercargill Bales. Bales. 7,224 5,989 Bales. 445 Dunedin. ... — .— 10,197 9,348 1,271 Gain aim — — — — 286 Timaru 111 1111,803 1,588 893 Christchurch 15 15 9,021 7,990 2,603 Nelslon — — — — 431 Blenheim ... — — — — 949 Wellington... G7 67 20,749 18,820 2,989 Wanganui .. — — 6,252 4,596 1,732 Waitara .... — ■— 916 Napier — — 6,662 5,645 2,759 Gisborne, Tokomaru Bay, Tolaga Bay — — — 1,136 Auckland ... — — 10 10 1,109 Exports of 196 196 61,918 53,936 17,519 wool during September:— Month Sept 1921 Bales. Corresponding of Total ing3 for 3 months, months.. 1920. Bales. Bales. Invercargill .„ 4,894 14,039 13,018 Dunedin — 11,967 5,993 Oam aru — 724 —- Timaru ... 348 6,932 — Christeihuroh. .. 4,196 25,1'29 19,468 Blenheim .... — 1,437 — Nelson — — 4,096 Wellington . Wangadui .. ... 13,106 34,010 30,149 ... 1,917 8,118 5,7 64 New Plymouth — 180 1,965 W aitara — —— 5,152 Napier. Wairo-a 1.374 G,8G8 5,997 Gisborne, Tokoinaru Bay ... 3,511 7,088 13,072 Auckland, Whangarei — 6,928 6,960 29.316 123,450 111,634

Total ponding. Month of for 3 3 nr* ths. Sept., 1921months. 1920. Tone. Tons Tons. Invercargill .. 782 891 43 Dunedin — 263 829 Oamaru — 251 203 Timaru .. 120 1003 645 Christchurch .... .. 300 1911 2680 Blenheim — 15 — Nelson *•— ■— 39 Wellington ?. 1258 1902 2750 Wanganui ... 271 409 339 New Plymouth — 110 27b Waitara. '— — 190 Napier, Wairoa .. no 368 760 Gisborne, Tokomaru 495 Bay ... 32 164 Whakatane — 112 — Auckland, Whan ryn . rei 47 273 1247 2950 7G85 10,198

/ £ s. d. £ s d. Inscribed Stock. 1938 ... 84 15 0 —- Inscribed Stock. 1933 ... 91 15 0 War Bonds, 1938 84 15 0 Bonds. 1930 88 0 0 —_ War Bonds. 1933 51 15 0 — Bank Australasia. 87 0 0 -r— National Bank 5 12 0 —- Bank New Zealand 2 10 6 2 11 3 Union Bank 12 9 6 -12 12 0 Fnti'tahle Buildine 7 0 0 —— Wellington Investment... 0 9 0 — Well. Trnfit and Loan ... — 5 15 0 Auckland Gas (paid) .... 1 2 3 — Christchurch Gas 5 10 0 — Well. Gas lord.) 7 17 6 8 7 6 Well. Gas (pref.) 0 12 6 — N'.Z. BefriirerB.tiniz (£1) 1 12 0 N.Z. BefriKeratins (10s.) — 0 17 6 Gear Meat 111 0 1 12 b Went Export (£3 12s. 6d.) — 3 3 0 JTuddart-Parker (ord.)... 2 4 3 — Union Steam (pref.) 0 IS 0 —— Well. Woollen (ord.) ... — 8 5 0 Westport Coal — 1 10 3 Leyland-O’Brien Timber 1 10 6 1 10 9 Colonial Susar (Fiji and New Zealand) — 10 2 b Howard Smith 1 18 0 — Wairtirapa Farmers (pref.) —— n 17 0