FARMING & COMMERCIAL

Dominion, Volume 15, Issue 23, 21 October 1921, Page 8

FARMING & COMMERCIAL

IiEWS AKO NOTES

AUCTION SALES FORTHCOMING FIXTURES. TO-DAY. Waterloo Road, Lower Hutt, 1 p.m.—Furniture sale (Johnston and Co.). 141 Manners Street. Wellington, 1.30 p.m. —Poultry sale (Wheatley and Co.). Dominion Avenue, Wellington, 2 p.m.— Furniture sa,le (Vine and Wilson). 41 TO-MORROW. Featherston, 1.30 p.m.—Sale of bridge builder’s plant (B. S. Gerraud). 136 Sydney Street. Wellington, 2 p.m.— Furniture sale (Price and Co.). GOOD NEWSHFOR WOOL GROWERS OPTIMISTIC VIEW REGARDING PRICES VALUES TO RECOVER BY NEXT SPRING In these days, when the wool market is down and sheepfarmers are complaining that, like Othello, their occupation is gone, it is quite refreshing to come across an optimist who considers that wool prices will soon rise high again. A Dominion representative came upon such a one a few days ago. This was Miss Smith, a lady who possesses au intimate knowledge of the London woollen trade, having been for seven years a buyer for Messrs. Stagg Mantoll, the well-known West End drapers, of London. Miss Smith came to New Zealand five years ago, and commenced business in Wanganui, where she trades under the style of tho Maison Franco. Since arriving in Now Zealand, Miss Smith has made three trips Home, and intends proceeding to England again in April next. Tho lady last went Home in July, 1920, and returned to the Dominion last month.

“There is no reason at all. for New Ze/j land sheepfarmers itoy be pessimistic,” declared Miss Smith. "I claim to have as good a knowledge of the soft goods trade as anyone in this country, and from lAat I learned personally in London I feci positive that by next spring woolgrowers will come into their own again. At a conference held in London between woollen merchants and retailers, tho former asked the latter to forget all about the indebtedness, and to continue trading as if they had a clean sheet. This is proof positive that the woollen merchants are confident that the retailers will be able to right themselves in tho near future, when prices go '.up again, as they assuredly will. Every country in the world to-day is waiting for woollen goods, and when the demand sots in up will jump the prices." Miss Smith went on to eay that it was not policy for traders or the public to hold off buying. "Things are being sold in New Zealand to-day,” Miss Smith declared, “at prices it is impossible to manufacture them for. One particular line, crepe do chine, is being sold at 9s. lid., while the latest quotation for French crepe de chine in the Old Country is 10s. Gd. wholesale. When merchants replenish their stocks they will find that they will have to give greatly enhanced prices. If people in New Zealand only realised that prices will never bo lower than they are at present, they would save money. Cotton goods ar& marked cheaper in New Zealand shop windows than they could be bought for in Oxford Street, London, during the July sales. Wise merchants in London are holding on to their stocks of woollen goods because they knew that very shortly they would receive greatly advanced prices for them.” A big London firm. Miss Smith went on. had bought woollen goods largely, and was storing them away on its shelves. One buyer had informed her that he had bought a big line of woollen combinations at Gs. lid. for spot cash, which had originally cost 295. Gd. He had averaged them at 215., and he was convinced that they would yet fetch the original price of 295. Gd. The Stock Exchange, Miss Smith asserted, * had not been in it with the drapery business in London during the past year. Many firms had to find cash hurriedly, and fortunes had been made and lost. However, she declared, sheepfarmers need, have no concern for tho future, as within a year she was convinced that the price of wool would be Is. per lb., if not Is. Gd., and it might soar even higher.

WOOL SALES

POSTPONEMENT AT MELBOURNE. Melbourne, October 20.

The wool sales are postponed, pending the settlement of the dispute between buyers and banks, the latter refusing to accept bills of lading without guarantees that the' wool is actually loaded on board' vessels.—Press Assn.

SMALL OFFERINGS TN LONDON. (Rec. October 20, 8.5 p.m.) London, October 19. At the free wool sales there were'very small o'rt'erings, excepting for combings. There was less bidding for merinos, but prices were maintained. Home and French buyers competed for crossbrecrt.— Aus.-N.Z. Cable Assn.

LONDON MARKETS

The Bank of New Zealand has received the following advice from its London office, under date October 19: "There is only a moderate demand for billow, and the market has declined 2s. per cwt.” Messrs. Dalgety and Company Limited report having received the following cablegram from their London house under data October 19:—"Tallow.—1000 casks of fallow offered, 300 casks sold; average price 2s. lower. Fine quality neglected; fine mutton sold at 525.” The. New Zealand Loan and Mercantile Agency Company Limited have received the following cablegram from their Ixindon house under date October 19: ' Tallow.—We quote present spot values for the following descriptions:—Fine mutton, .£2 Ils. per cwt.; good beef, .£2 7s. Gel. pur cwt.; mixed, £2 Is. per cwt.. Small demand, downward tendency. New Zealand Frozen Meat. —Lamb, 7jd. per lb. (average); wether and maiden ewe, light s?d. per lb., heavy 4Jd. per lb.; ewe light 4}d. per lb., heavy 4d. per lb.; ox beef, hinds sjd. per lb., fores 3|d. per lb.; cow beef, hinds 4d. per lb., fores 2Jd. per lb.

HAWKE’S BAY SHOW

By Telegraph—Press Association. Hastings, October 20. To-day was People’s Day at the Hawke’s Bay Spring Show. Though the weather was unpropitious, the attendance was good. The following additional championship was awarded: —Saddle ponies: Miss Gladys Guthrie, Havelock North. • o NtZ. RED POLL BREEDERS The first annual meeting of the council of Red Poll Breeders’ Association was held at the Central Development Farm, Woraroa, on Wednesday, for the purpose of discussing the proposed rules of association. Mr. Bruce, vice-presi-dent, occupied the chair, in the absence of the president, Sir Heaton Rhodes. The rules of the association were adopted, after a very thorough discussion, a few minor alterations being made. The association will bo run on similar lines to those of the Australian Red Poll breeders. It was moved and adopted that the secretary, Air. Norman Inder, take the necessary steps to Fave the association incorporated.

The meeting closed with hearty votes of thanks to the chairman and secretary.

LONDON TALLOW SALES

(Rec. October 20, 8.5 p.m.) London, October 19.

At the tallow sales 1051 casks were offered at*tl 400 were sold. Prices of low sorts Were unchanged; others declined 2s. to 3s. per cwt; mutton, fine, 535. per cwt.; medium, 465.; beef, fine, 515.; medium. 46s.—Aus.-N.Z. Cable Assn.

FIREBLIGHT

Mr. E. Kellett, M.P. (Dunedin North), asked' the Minister of Agriculture in tho Douse of Representatives yesterday whether steps were being taken to prevent tlic spread of fireblight from the North to the South Island. The Hon. \V. Nosworthy replied that every possible precaution was being taken by the Department to prevent the further spread of the blight. A big staff of the Department was engaged in this work, and there was no nocd for them to worry down south as to the precautions that were being taken. He, as Minister in charge, was just as anxious as anyone that the disease should not spread farther than it had gone at present.

LIVE STOCK SALES

■Messrs. Dalgety ftn^ C . 0 ” ton North, report on then at Ashhurst on October 9. Wc naa . small yarding of sheen and a fair ent T cattle and nigs. Sheep and pigs sold X e Ve Ut Wo TuoT; : -Sho C^C^rw P arl 2tn 35«> • store cows, 10s-» 15s;. 305. ; to 16s- cows and calves. 31b.-. springing heifer's £5. £6 55.. to £9: vearling Jerseyer orb bulls £3 4s. to «£5 10a- grade 2year bulls 305.. 355.. £3. to £3 lOs.i 3-year bulls. 10s. to 195.; 3-year Jersey bulls. ■« 10b Pigs: Weaner pigs. 155.; slips. 1/s. 6d 19s to 20s. Oil acepunt of Palmerston North Show, next sale Tuesday, No'‘Messrs? Dalgety and Co.. Ltd.. Palmerston North, report on their Baumai sals on Tuesday: We had a small entry ot cattle? which met a heavy sale Quotations —Yearling steers. 345.: yearling heife?s Jereey-oross. £3 14s ; 2-year heders £4 15s to £4 17s. 6d.; cull dairy cows, £3 10s to £4 JOa-: 3-year Shorthorn bulls, Zobl to 275. 6d.; Yehrlins Shorthorn-croBS bulls, £3 55.; 2-year Shorthorn bulls, £3 Is.

COMMERCIAL ITEMS

INVESTMENT SHARES

A sale of 5i per cent. War Bonds, 1933, at £92, was reported yesterday. The quotations were as follow

NEW COMPANIES. The “Mercantile Gazette’’ records the registration of the following new companSouth British Waterproof „„,Con>riAn7. Ltd., registered October -2. 1921. Office: Nelson. Capital: £lO.OOO. into 2000 shares of £5 each. Subscribers: Nelson—lL P. Dunean 60. C. R. Fell 20, F-W- Faw-y 30. P. Greenolade 50. C. A. IT. Field Wellington—W. J. Gaudtn 40, W Cole 40. Objects: To carrv on in New Zealand and elsewhere the business of the manufacture of waterproof clothing and other articles, waterproofing cloth, canvas, etc. Take or lease, or otherwise acquire for any interest and develop any lands or hereditaments, and in particular factories, workshops, storehouses, yards, showrooms, shops and other buildings, etc. Pouakal Minerals. Ltd., registered as a private comnany October 3, 1921. Capital: £2OOO, into 2000 shares of £1 each. Subscribers: New Plymouth—E. Whittle 250. L R. Cruikshank 125, A. I. Humphries 12.5 T Bransgrove 93. T. A. Pruden 250. W.’ H. Skinnc; ,125. T. Bransgrove 32, G. Tweedie 210, A. E. Watkins 40. B. R. Leech ’43. J. W. Davies 107, J. M’Lend 125. E. R. C. Gilmour 125, H. W. Kirkby 125. C. H. Croker 125. Objects: To purchase certain lands, explore and search for nil kinds of minerals and oils, carry on business as timber-millers nnd sawmillers, to farm, carry on business as carriers and taxi proprietors. Taranaki Brick. Tile. Dram. Land and Building Co.. Ltd. (The), legistered October 3. 1921. Office: New Plymouth. Capital: £5OOO. into 5000 shares of £1 each. Subscribers: New Plymouth—J. M’Neil ICO. J. Somerton 500, G. Grey 200. D. L. Morgan 100. W. P. Marlin 200. E. Hine 250. fi. Trcmlett 500, F. IT. Robertson ICO, A. W. Webster 100. Objects: To acquire benefit of agreement between George Gray, of New Plymouth, Solicitor. land James M'Neill, of Now Plymouth, grocer, as vendors, a.nd F. F. W. Eborletf. Esq., as trustee, build houses and buildings fn let or sell, mine for porcelain clay, and manufacture bricks and. tiles, advance or lend ■ moneys, make, accept, endorse, and execute promissory notes and bills of exchange and other negotiable instruments.

Ahl-Magnus Products, Ltd., registered as a. private company October 10. 1921. Office: Wellington. Capita): jEAn.fiOO .info MOO shares of £2O each. Subscribers: Wellington—J. Baxter 500 A. shares, E. J. Shackelford 500 A shares, J. Baxter 500 B shares. F. J. Shackelford (00 B shares. Objects: To purchase" or otherwise acquire any interests iu any patents, brevets d’invention licenses, trade marks, concessions, processes, etc., in relation to the manufacture of wheels for motors and other vehicles, etc., to develon and turn to account any land acquined by or in which the comnany is interested, laying out and preparing same for building purposes. carry on business of general merchn.nts and incidental. Hawera Motors. Ltd., registered anrivate company October. 11, 1921. Office: Hawera. Capital: .£7OOO. into 7000 shares of £1 en.-h. Subscribers: Hawera—E. G. Jones 3499. A. T. Peters 3499. J. Foy j, q>. FT. Gillman 1. Objects: To carry on in New Zealand or elsewhere the trade or business of purchasing, hiring or otherwise acquiring and making, building, or tnanufaeturing motor-cars, motor-lorries and wagons, motor-cycles, and generally carry on the business of motor-car agents and dealers, garage proprietors. CUSTOMS REVENUE. Customs revenue collected at the port of Wellington -yesterday totalled £5137 7s. 7d. AUSTRALIAN PRODUCE MARKETS. By Telegraph—Press Association—Copyright (Rec. October 20, 9.40 p.rn.) Sydney, October 20. Oats, Algerian feel. 3s. 3d. to 3s. 4d. per bushel; milling, 3s. 6<1.; white feed, 3s, 7d. to 3s. Bd. Maize, yeliov;, ss. 3d. ’ppr bushel: white. 6s. 3d. Potatoes. Tasmanian, £.6 to £lO per ton; Victorian. £4 to £7 10s. Onions, Victorian, old. £4 10s. per ton. < Adelaide, October 20 Quotations for oats are nominal. The trotting and walking competition!) at the Wairnrapa Show next week are said to have filled better than for many years; the jumping competitions are also good. Dog trial entries in both the open and maiden classes are bigger than titunl, and the hack classes and girls and boys' ponies are also very good. Aisitors to the show are promised plenty to interest them in the ring events on hoth days cf the show, in addition to the very fine exhibition of purebred stock in all section#.

WANGANUI WOOL SALE

KEEN COMPETITION TOR. FLEECE ■ WOOL.

By Telegraph.—Frees Association. Wanganui, October 20.

The foilr(h wool sale of the season was held this morning. A total of 4(100 bales was offered, but there were very few good lots, most of the catalogue comprising ’back-country wool. Competition was keen throughout for fleece wool, most, of the offering being taken by Bradford. Crutchings. pieces, and lambs were slow of sale. Compared with the Wellington sale, prices were on a par for fleece, but lambs and crutchings were easier. The range of prices was as follows: Southdown, 10jd.; crossbred, super, 44’sUi’s, sd. to Gd.; crossbred, inferior, 44’s•IS’s, 3d. to 3J<l.; crossbred, super, 4O’s44’s| 4Jd. to 4iJd.: crossbred, inferior. 40’s4l’s’. 3d. to 3Jd.; low crossbred, super, Id. to 41d.; crossbred, inferior, 3d. io 3?d.; hoggets, super, 46’s-fS’s. Gd. to Gj<l.; hoggets? medium, 4d. to 5Jd.; hoggets, coarse, 3?d. to 41d.; hoggets, low, 3Jd. to 3Jd' ; lambs, medium to fine, Gd. to 7d.; lambs, inferior, Id. to 2Jd.; bellies and pieces, lid. to 21d.: locks, ’d. to Id.; crutchings, Id. to 21<1.

Messrs. Murray, Rolierts. and Co., Ltd., in conjunction with Smith. Mobster and Co., report:—For the fourth sale held yesterday our catalogue consisted of 110 bales. The bulk of the wool catalogued consisted of medium crossbred, there being very few lots of finer crossbred wool shown. Competition was keen, up to a certain point, for all classes of wool, with the exception of lambs. Compared with tho recent Wellington sale, and taking the condition of the wool into account. prices may be quoted on a par. The lambs’ wool offered was very poor quality on the whole, most lots showing seed and off in colour, and there was verv little demand. The New Zealand Co-operative Distributing Company report:—Bradford were the main competitors, America brine- entirely absent. Continental limits generally were lower than tho Home Country. Prices all round showed a satisfactory advance ns compared with last sale at this centre. Our catalogue comprised 327 bales, chiefly composed of inferior and medium wools. The Selection generally at the offering was poor. Many lots of pieces, bellies, and locks held over from previous sale were offered in various catalogues. Bidding was fairlv animated, being, as stated, almost entirely confined to Bradford, and some low grade wool sold extremely well under the 'circumstances. Wc cleared under tho hammer approximately 85 per cent, of the catalogue. The bulk of the pass-ed-in lots wore inferior lambs and oddments. Coarse wools sold in comparison with better sorts extremely well, up io 4Jd. being obtained by us for some Lincoln lots Crutchings were in much poorer demand. A decline in these lots has to be recorded.

£ s. d. £ s. d. Inscribed Stock, 1939 Inscrioed Stock, 1938 85 15 0 86 0 0 Inscribed Stock. 1933 91 17 6 War Bonds, 1941 85 15 0 War Bonds, 1938 86 0 0 War Bonds. 1930 88 0 0 War Bonds, 1933 91 17 6 53 n.c. Inecd. Stock. 1930 —. 93 0 0 5 p.c. Landa for Settlemerit Finance Debentures. 1931 —— 90 0 0 Bank Australasia —• 87 0 0 National Bank —* 5 16 0 Bank New South Wales 35 10 0 Bank New Zealand 2 10 6 2 11 3 Union Bank — 12 9 0 Abraham and Williams -—• Equitable Building 7 0 0 8 7 6 Well. Gas (ord.) S.B. Insurance (cum) .. — 1 16 6 Standard Insurance — 2 116 N.Z. Refrigerating (.£1) — 1 10 9 Gear Meat ;•••; — 1 12 0 Meat Exp. (£3 12s. 6d.) — 3 2 0 Meat Exn: (£5) — 4 5 0 rruddart-Parker (ord.) .. , —• 2 4 4 Union Steam (pref.) 0 18 0 Tlentn! and Medical Sup. —— 17 0 Wairarapa Farmers 1.1 ■ 0 17 0 Ward and Go 110