FARMING & COMMERCIAL

Dominion, Volume 15, Issue 30, 29 October 1921, Page 10

FARMING & COMMERCIAL

NEWS AND NOTES

AUCTION SALES FORTHCOMING FIXTURES. MONDAY. Martinborough Yards.—Cattle fair (Wairarapa Farmers’). TUESDAY. Levin Yards, 12 noon.—Stock sale. 157 Lambton Quay, Wellington. 1.30 p.m.— Sale of unclaimed goods (Johnston and Co.). WOOL MARKET ENGLISH PRICES HARDENING. (Rec. October 28, 8.55 p.m.) London, October 27. Ot the mixed wool sale there was a very small selection of merinos. The home trade was keen. Combings prices were very firm. Crossbreds sold well to the home and Continent. Prices- were fully firm. Stipes were again firmer. The Ohoka clip realised 23d. per lb.; Bell, top price 9d., average 81d. The Bradford tops market is more cheerful. Prices are firm, spinners receiving more home orders. —Aus.-N.Z. Cable Assn. BUTTER AND CHEESE LONDON” QUOTATIONS. (Rec. October 28, 8.55 p.m.) London, October 27. The butter market is dull. The Government has reduced the price of New Zealand by 13s. per cwt., and Australian by 20s. ■ New free Australian, . salted ISOs, to 190 s, per cwt.; unsalted is very scarce, and is at 200 s. The cheese market is flat. . New Zealand coloured, ' 765. to 88s. per cwt., white, tfta. to 965. per cwt—Aus.-N.Z. Cable Assn. AGRICULTURAL EXPERIMENTS RELATIVE VALUE OF MANURES. From Our Own Correspondent Masterton, October 28. Farmers are taking great interest in practical agricultural experiments being conducted in the Wairarapa by a joint committee of A. and P. associations and tho Farmers’ Union. Tho seed is just beginning to come away now, and in three or four weeks —some time between November 14 and 18—it is intended to hold the first of tho field days. Yesterday Mr. F. IV. Greenwood, of the Agricultural Department, who is supervising the experiments, visited air. M C. Jansen’s farm at Carterton, where aii area of eight acres, divided into nine plots, is being usedi to ascertain the relative values of Nauru superphosphate and Nauru ground rock as atop-dressing for wheat—in this case solid straw tuscan. Mr. Greenwood has supplied your correspondent with particulars of the experiment iii addition to the manure mentioned. Plots Nos. 1,2, 3,4, and 5 were top-dressed with 11 tons of lime to the acre in June, two months before the seed) was sown. Plots Nos. 6,7, 8, and 9 are unlimed. The following are Mr. Greenwood’s notes, tho size of tho plot, the manure useu, and the progress of the crop being mentioned in each ease:—Plot No. 1, one acre (lime).—lhe seed has made a good strike, but the growth is not as good as the others owing to the low-lying land resting on ironstone. The pan soil is sour. No. 2. one acre (llcwt. Nauru superphosphate).—Tho growth is higher, but/not as dark in colour as No. 3. No. 3, one acre (llcwt. Nauru ground rock phospha te).—-The growth is about the same as No. 6, these two plots probably being tho best. No. 4, half-acre (lime only). —The growth is much darker than No. 5, but not more vigorous. No. 5, halfacre (unlimed). —The control growth is about equal to No. 9.. No. 6, one acre (£cwt. of- Nauru superphosphate mixed with lewt. Nauru ground rock).—The growth is similar to No. 3. No 7, one acre (IJcwt. Nauru superphosphate).— The growth is bettor than No. 8. No. 8, one acre (llcwt. of Nauru ground rock). -Growth good, but svt very advanced. No. 9 (unlimed).—The control growth is about the same as No. 5. To suhi up, said Mr. Greenwood, as expected the plants in plots with supenpliospliato were shooting away more quickly than those with rock phosphate dressing. The best yield, however, may ultimately come from ground rock or from ground rock and huperphosphato mixed. The plots showing tho best progress so far are those treated with lime and superphosphate or limo and ground rock. The unlimed plot dressed with lewt. superphosphate and lewt. of ground rock is also doing well.

FROZEN. MEAT Messrs. Balgety and Company. Ltd., have received the following cablegram from their London house, under date Oi-iobc-r 27.: — "Qnotaiion New Zealand prime crossbred lamb: Canterbury heavy, Bd.; Canterbury light,/8 5 ( d.; North Island heavy, 7}d.: North island light, Sd. Demand for N.Z. lanvb poor, market dull, and tone generally easier. “Quotation for New Zealand prime crossbred motion: ,'Catiitorburv hriav.V. 4?d.: Canterbury light. Gid. North Toland heavy, 4-ld.: North Island light, 6d. Demand for N.Z. mutton fair, market weaker. “Quotation for New Zealand prime, ox beef: Hinds, 3|d.; fores, 4ld. Demand for N.Z. beef bolter, owing to cold weather; market firmer “Quotation for good average quality crossbred lamb: Australian heavy fid., Australian light, 7?1. Demand for Australian lamb poor.” COMMERCIAL ITEMS INVESTMENT SHARES Yesterday’s quotations for investment

CUSTOMS REVENUE. Cn-toms revenue ecjlectod it th-" or t of Wellington yesterday totalled £7429155. exchange rates. Australian-New Zealind Cable Association (Rec. October 28. 8.55 p.m.) London, October 27 The rates of exchange are quoted as follows Montreal, 4.29 dollars to £1; New York 394 dollars; Paris. 54.10 francs: Stockholm. 17.02 kroner; Christiania 29.95 kroner- Copenhagen, 20.58 kroner; Berlin. 694 marks; Calcutta, 16Jd. to rupee; Yokohama, 29d. to yea; Hong-Kong, 33Jd. to dollar.

COLONIAL AND OTHER PRODUCE. Australian-New Zealand -’able Association (Rec. October 28, 8.55 n.m.) London, October 27. Wheat—Firm. Cargoes are dearer Australian December-February shipment quoted at 525.; for parcels DecemberJanuary shipment, 51s. 6d. There is little business on spot. Australian is nominally at 545. ex ship. 565. ex quay. Flour.—Quiet. Australian is quoted at 50s.' ex store. Oats.—Steady. Beans.—Quiet, but steady. Peas.—Slow, but unchanged in price. Sugar.—Granulated, 495. 9d. MELBOURNE PRODUCE MARKET. By Telegraph—Prise Association--Copyright Melbourne. October 28. Barlev, English. 4s. to 4s. 2d. per bushel; Cape. 3s. to. 3s. 3d. Oats. 2s. 6ld. per bushel. Potatoes. £3 to £4 15s. per ton Onions, £1 ss. to £2 per ton. ■ BRISK DEMAND FOR HIDES. By Telegraph- -Press Association —Copyright Melbourne. October 28. The hides market is very brisk, and there is keen competition for all stouts and heavies in sellers’ favour. Other sorts are firm at late rates.

BANK OF ENGLAND RETURN —: *

Australian-Naw Zealand Cable Association. (Rec. October 23. 8.55 p.m.) London, October 27. The Bank of''England return for the week ending October 26 is as under:— Issnn DnrAHTHRNT. Notes issued £123 016.000 Gov. debt... £11.015.000 Other securiKotes in lies 7,434.00(1 reserve 21.120.000 Gold IOBABShOO £145.045.000 £145.045.000 BANXINO DkPARTWBNT. Proprietors' Gov. securicapital ...£14.653.000 ties ... £87.576.000 Public de- Other securiposits ... 13.533,000 ties 82,203.000 Other deposits ...161.505.000 Notes in B cs t, T-,lay reserve ... 21.120,000 ■ nd other Coin in bills ... 3.136.000 reserve ... 1 B'o.ooo £102.727.000 £102.727.000 The leading items of the Bank ol England return afford tho following comparison This week Last week Last year £ £ £ RnlHnn - 126,606000 IS6 606.000 121.670.000 Reserve " - 22.040.000 21.383,000 14 061.000 Note Circulation 123.916.000 123,604.000 127 689.00 T Public Deposits 13,633 000 14.794 000 16.4'21,000 Other Deposits 161.605,000 160,809.000 120.557 000 Proportion of reserves to liabilities 13.11 -3.51 10-26 GOVERNMENT SECURITIES. Following are latest quotations for Imparial and Colonial Government securities.

*Ex Interest.. MONEY MARKET. The Bank cf England discount rate, which wan raised from 6 per cent, to 7 per cent, on April 16. 1920. was reduced to 6J per cent, on April 26, 1921, further reduced to 6 per cent, on June 22. 1921, and again reduced to 5j per cent, on July 20, 192) OPEN MARKET RATE. The open market rate for three months’ bill is nominally 3§ per cent., as compared with 3? per cent, last week and per cent, last year. Short loans are quoted at 33 per cent, as against 3j per cent, .last week and 51 per cent, last year. MINING NEWS WELLINGTON SHARE MARKET. The following was the only quotation recorded in the mining market yesterday:— Buyers. Sellers. £ s. d. £ s. d. Grand Junction — 0 9 0 STOCK EXCHANGE. By Telegraph—Press Association. Auckland, October 28. Salos: New Zealand Inscribed. 1939. £B7 165.: Soldiers’ Inscribed. £92 2s. 6d.; Bank of New Zealand, ,505.: Union Bank (rights). 405.; Hudclart-Pafker Co.. 435. 6<1.; Waihi, 225. 3d. and 225. LONDON STOCK EXCHANGE. Australian-New Zealand Cable Association (Rec. October 28. 8.55 n.m.) London, October 27. Waihi Grand Junction shares. Bs. Id.

shares were as follow: ■ Buyers. £ s. <1. Sellers. £ s. d. Inscribed Stock. ... 87 0 0 — Inscribed Stock, 7938 ... 87 0 0 Inscribed Stock. 1933 ... 92 0 0 92 7 6 51 P.O Inscd. Stock. 1930 93 0 0 War Bonds. 1939 67 0 0 War Bonds, 1938 •'< 0 0 87 10 0 War Ponds, 1930 69 0 0 War Bonds. 1933 92 0 0 92 7 6 Bank Australasia ... ■■ — 86 0 0 Commercial Bank (ord.), cum rights —X1 9 0 Commercial Bank (pref.). cum rights 610 National Bank 5 13 0 0 5 14 n Panic N.S. Wales — 35 12 6 Bank New Zealand -— 2 11 0 Union Bank rights) 12 5 0 Union Bank (rights) 2 0 0 Union Bank (fractions) 0 7 8 0 8 3 Vimhain and Williams — 4 0 0 Goldsbroupb Mort 1 14 0 — Printable Bnildinj? 7 0 0 Notional Mortgage — 3 10 n Well. Gas (ord.) 7 Ifi 0 8 10 Gear Meat 1 10 0 1 It 6 Meat Exp. (1*5) — 4 5 Monf p\r> / CJ 19® fid.) —• 3 2 0 ITnddart Parker (ord.) ... 2 4 0 — Union Steam (pref.) 0 10 3 Well. Woollen (nref.) — 7 10 0 Mnnniiipr and Co 3 9 0 rn’itn’ and Rnn. —* 1 7 0 Wnirarana. Farmers (£5) — 5 0 0 Waimrapa, Farmers (prof.) . 0 16 6 Ward and Co 1 1 0

Stock This Week Last Week A'% Imperial Con«ol« 6 War Loan H .. War Loan 61 „ Aui.-Commonw’th 51 „ Aus.-Cou'.monw’th < „ N.B.W.1933 Jan-Julj 8 N.6.W. 1325 Apl.-Oot JK N.B.W.19JO-50 Ja-Jy 53 NSW 1922-32. May-N 41.. NSW 1930-40.Fe-Au 31 „ Vic. 1921-6 Jan-Jly Vlo. 1929-49 Apl.-Oot i „ Vio. 1929-49 Jan.-Jul 34 ,, 8.A. 1939 Jan.-Jly 3J,. 8.A. 1916 Jan.-Jly 4 Q’l'd 1924 Jan-Jly 5* (J'i'd1972-47 Jan.-Jly 3 „ Q'l d 1922-47 Jan.-Jl; 4 „ N.Z. 1929 May-Nor. 31 N.Z. 1940 Jan-Jly J „ N.Z. 1920 Ap-il-Oot. JJ „ W.A. 1916-35 My-Nr 3 ,, W.A. 1915-35 My-Nor JI, ,, Ta». 1920-40 Jan-Jly I .. Ta» 1920-40 Jan.-Jub £ «. d, 48 17 6 HO 0 0 *87 12 6 101 0 0 W 9 6 78 10 0 67 2 6 63 5 0 04 16 0 10'1 ‘J 6 00 ‘2 6 63 1'2 6 67 0 0 68 7 6 5'2 0 0 90 7 0 60 7 6 56 2 6 86 0 0 70 5 0 61 12 6 71 0 0 68 0 0 69 0 0 64 0 0 £ s. d> 49 0 0 69 17 6 69 5 0 100 2' 6 06 0 0 77 17 6 67 0 0 63 5 0 04 15 « 102 2 6 90 i 6 63 15 0 57 5 0 68 7 6 51 15 0 93 7 6 80 7 6 56 10 0 85 5 0 70 2 » ' 61 15 0 71 0 0 67 0 0 60 5 0 64 0 0