FARM & COMMERCIAL

Dominion, Volume 18, Issue 181, 2 May 1925, Page 10

FARM & COMMERCIAL

NEWS AND NOTES

AUCTION SALES Sales will be held— TO-DAY. Anglican Church Schoolroom. Waikanae. 1 p.m.—Sale sections Waimeha township (N.Z. Loan and Mercantile Agency Co., Ltd.). Columba Road Yards. Masterton, 11 a.m. —Sale horses (N.Z. Farmers Co-op. Distributing Co.). Wlaikanae Railway Station Yards—i Immediately following sale Mr. Field s sections, at 1 p.m., fresh cut building timber (N.Z. Loan and Mercantile Agency Co., Ltd.). Hautana Street, Lower Hutt, 1.30 p.m. Sale of furniture (11. I E. Leighton). ' TUESDAY. Fai’lding Sale Yards, 1 p.m. —Sale of Clydesdales ; (Murray, Roberts and Levin and Co.). Levin. —Stock sale.

FARMING INTERESTS

DAIRY PRODUCE BUTTER FIRM, CHEESE DULL. (Rec. May 1, 5.5 p.m.) London, May 30. The butter market is firm, but quiet. New Zealand choicest’ is quoted at IiUS. per cwt., exceptional at 171 s. per cwt.; Australian, 160 s. and 1625.; Danish, 188 s. Siberian supplies are arriving in increasing quantities and are expected to reach 50 per cent. 1 aljove those of last season. Siberian is selling well at 1445. and 148 s. The cheese market is dull. New Zealand 965. per cwt. Australian 945. per cwt. are latest quotations.—A us.-N.Z Cable Assn. . T i a Messis. Dalgety and Company, LtcL, report having received the following cablegram from their London house under date April 30:-“Butter: Fair• inquiry. We quote: New Zealand salted, L2s. (1665.); Danish, 188 s. (I86s.); npest Acstralian salted, 160 s. (158 s. unsalted, 16*b. (I “Ciieese: Market dull. New Zealand white and coloured, 965. 3 ' s ,\ Yr, 2’ Canadian, c.i.f., quotation,. 86s. to obs.

Last weed’s quotations are given in parentheses. ARRIVALS IN GREAT BRITAIN. In addition we have to advise that the following vessels have arrived since our last report, dated April 24: —S.S. Mahia, April 21, 26,405 boxes butter, 5136 crates cheese; Waimana, April 25, 49,901 boxes butter, 17,716 crates cheese. Messrs. Joseph Nathan and Co., Ltd., have received the following cable from their London , house dated April 20:— New Zealand .butter, 168 s. to 1705.; New Zealand < heese, 965. Both markets quiet. SKIN, HIDE, AND TALLOW SALES BROKERS’ REPORTS. The following salss of hides, skins, and tallow were held yesterday by the various brokers. There was a full attendance of exporters, fellmongers, tanners, 'and the ■ local trade. Competition genera’ly was keen and well sustained. Since last report values for dry sheepskins depreciated by Id. to Id. per lb., with the exception of halfbreds and fine crossbreds, which were about equal to. late rates. Salties were lower by Is. to Is. 3d. each. Some very attractive parcels of ox hides, all weights, were offered. Specially prepared lots of heavies anil light-weights showed an advance of fd. per lb. on previous quotations. Light-weights, kip, yearling, and calf sold well up to late rates. Cut, slippy, and inferior lots at times were hard to quit, hnd sold -at low rates. Tallow was in fair demand and prices for good mixed lots were on a par with late rates. The following is the range of prices:— . Sheepskins.—Halfbred, Hid. to 15-ld.; fine , crossbred, 13d. to 151 d.; medium to coai-se crossbred, 10d., to 12Jd.; short to half-wools, Bd. to 14d.; lambs, Bd. to 15}d.; dead and damaged crossbred, 6Jd. to Hid.; inferior and badly damaged, 3d. to 7d.; pelts, 4d. to 101 d.; damp, salted and green, (is. 7d. to Ils. 9d.; pelts, salted, ss. lOd. to 6s. 7d.; lambs, salted, 4s. to 7s. lid. Hides—Ox, heavy, 701 b. and over, lOn. to lid.; ox, heavy, 591 b. to 691 b., Bd. to IOJd.; ox, medium, 531 b. to 581 b., 7d. to BJd.; ox, light, 451 b. to 521 b., 5Jd. to 7|d.;.cut, slippy and inferior, 4d. to 7|d.; cow, heavy, 531 b. and over. Old. to 8ld.; cow, medium, 451 b. to 521 b., sjd. to Gid.; cow, light, 331 b. to 441 b., 5Jd. to 6fd.; cut, slippy, and inferior, 3fd. to sa<l.; bull, stag, 31d. to 4d.; yearlings, 111 b. to 161 b., 6d. to Sjd.; yearlings, 171 b. to 321 b.. sifd. to 7|d.; calf, superior, up to 101 b., 14|a. to 16d.; calf, medium to good, up to 101 b.. B|d.’ to 13Jd.: calf, damaged, up to 10'b., Id. to HJd. Tallow. —In casks, 335., in tins, etc., 21s. to 325.

UPPER HUTT STOCK SALE Messrs. Dalgety and Company, Ltd., report having yarded a small entry of sheep and a fair entry of cattle at Upper Hutt on Thursday, a good clearance being effected at satisfactory rates. Quotations:—Cull lambs, 9s. 2d. to 155.; iat cows, £4 10s. to £4 145.; forward cows, £3 to £3 65.; store cows, 355. to £2 12s. Gd.; springing cows, £a to £7; springing heifers, £5, £5 10s., £G ss. to £7 10s.; gelding, £7. FROZEN MEAT MARKET Messrs. Dalgety and Company, Limited report having received the following ’cablegram from their London house under date April 30: — , Lamb.—New Zealand prime crossbred lamb. Canterbury, heavy, lid., light, 12d.; North Island, 10jd., light. Hid.; demand for New Zealand lamb runs principally on light-weights, market firm. During the last week considerable quantity of lamb has come forward on consignment. Mutton.—New Zealand prime crossbred mutton, Canterbury, heavy and light, not quoted; North Island, heavy, aid.. light, 9d.; demand for New Zealand mutton runs principally on .lightweights, any change in price is m favour of buyers. Beef.—New Zealand prune ox beet, hinds, 5Jd„ fores,, 41-d. Good demand for New Zealand beef, prices nominal. Messrs. M. A. Eliott, Ltd., Palmerston North, have received cable advice from Messrs. Gilbert Anderson and Co., Ltd., London, of the following Smithfield prices for the week ending May 1. These prices are on the “delivered” : basis; that is, including storage charges, cartage, etc.: —North Island prime Down lambs, under 3Glb„ 12Jd.; 3G to 421 b., HJd.; 42 to 501 b., lOjd. Best North Island prime crossbred lambs, under 421 b., lljd. Ordinary North Island lambs, under 421 b., 11J<1.; second quality, under 421 b., lljd. Best North Island wethers and/or maiden ewes, 48 to sGib., Bid.; 56 to Glib., 7-^d.; G 4 to 721 b., Gjd.’ Ordinary North Island wethers and/or maiden ewes, 48 to sGlb., BM.; 56 to 641 b., 71<1.; 64 to 721 b., 6ld. North Island ewes, under 611 b., 61d.; 64 to 721 b.. sid.; oto 721 b.. 4?d. New Zealand prime ox beef (equal fores and hinds). 160 to 2201 b., 4)d. Remarks: Light lamb, id. higher; heavy lamb, id. lower; wethers, par to {d. lower; ewes, par to id. lower; beef, id. lower. NATIONAL DAIRY SHOW The twenty-third National Dairy Show is timed to take place on June 16 to June 20, the dates being inclusive, making it again a five-days’ show. This exhibition, which also includes the Manawatu Poultry Association’s championship show, is one of the most popular holiday events in tht- year of the dairy farmer. In addition to the interest and education to bo gleaned from the machinery and other exhibits there are plenty of other things provided for bis amusement, such as ring events, wrestling, Scottish and Irish dancing, school singing, etc. There will also be a fine list of football events. The various competitive sections of tin- show are provided for as usual, as well as a schedule of fat stock classes. The committee has arranged to hold a fat stock sale during the show, the Auctioneers’ Association having undertaken to hand oyer any commission earned as a donation to the funds of the A- and P. Association. No sale entry fee will therefore be charged to those entering their stock for the sale. Prize schedules may lie obtained from the secretary, Box 85, Palmerston North. \

STAGNANT (Rec. May 1. 8.45 p.m.) London, April 30. The Bradford tops market is stagnant. Quotations are impossible in the. absence of business. —Aus.-N.Z. Cable Assn. LONDON TALLOW SALES Messrs. W. Weddol and Co., Ltd., cabled under date London, April 29, as follows to Messrs. A. H. Turnbull and Co.At tallow auctions to-day, 850 casks were offered and 118 sold. Laie rates to Gd. less. FEILDING STOCK SALES Hr Telegraph.—Press Association. Feilding, May 1. At the Feilding stock sale to-day there was a large yarding at sheep for tins time of the year, but competition, except' for two or three pens, was very slack. Prices were easier all round, and a good proportion passed. Some exceptionally good fat heavy-skinned two-tooth wethers made 495.; and a line of 460 fat and forward Romney two-tooth wethers made 38s Other prices were: —Fat lambs, 245. 6d., 275. Gd., 285., 295. id., 365. 6d.; fat wethers, 325. 9d., 38s. 6d., 495.; ewes, 255. Gd., 275.. 295. 6d.. 325.; Lincoln goodskinned two-tooth ewes (r.w. Romney rams) passed in at 385.; medium-class ewes (r.w. Southdown rams), 28s. 9d. to 305.; fair Romney rive lambs, 275. Bd., to 285.; small do., in good condition, 225. Id.; good shorn wether lambs, 255.; very fair woolly wether lambs, 255. 3d.; medium shorn white-face lambs. 19s. 6d., 20s. 6d., to 20s. 9d.; good black-face Jambs, 255.; medium do., 18s. 7d. to 21s. 3d.; small, 12s. 6d. There was a medium yarding of cattle, and competition was poor. Prices for lioth fat and store cattle were easier than the previous rates, and a large proportion passed in. Good fat bullocks sold at £8 17s. Gd. to £9; medium do., £7 3s. to £8 175.; good fat cows, £5 55., £5 7s. 6d., to £5 145.; mixed coloured forward bullocks, £7 15s. Iq pursuance of sub-section 6 of section 4 of the. Dairy Produce Export Control Act, 1923, two producers’ representatives for the North Island and one for the South Island automatically retire on June 30. The election is to be carried out by a system of postal voting. Messrs.' W. Grounds and W. C. Motion (North Island) and Mr. J. R. Hamilton (South Island) are the retiring members. Each one is eligible for nomination and reelection.

SOUTHERN MARKETS. By Telegraph—Tress Association. Christchurch, May 1. Most interest in the grain and produce., trade centres around the wheat position. Farmers are offering their wheat freely, one milling firm having purchased in the last seven days 50,000 bushels. The flour trade has been remarkably slack for some weeks, but it is expected that settling of the price of wheat and the reduction in flour will stimulate it. The fowl wheat market is less excited than last week, when rumours of a wheat increase prompted spirited buying. To-day’s quotations are from id. to 2d. per bushel easier, being 6s. 9d. f.0.b., sacks extra. The oat market is firm, with little movement in it. “A” grade Gartons are' quoted at 4s. Gd. per bushel f.o.b.s.i. Just a shade easier than a few days ago. “B" grade are quoted at 4s. Id., the respective on truck prices to farmers being 3s. Bd. and 3s. 3d. So far as Canterbury is concerned grade oats will be in small supply in proportion to feed, but the heavy yield of low grade stuff must continue to have a lowering tendency on the market for good white oats. Potatoes are, as previously quoted, £3 10s. on trucks for prompt and a shade more for June-July delivery. At this range farmers are sitting back. The early planted c ops are turning out very satisfactorily, although some small areas have been drowned out, but later planted fields are not so good. Vessels scheduled to leave for the north this week have been delayed. The Katoa left yesterday with 1500 sacks, the Kainpoi left to-uight with an estimated cargo of 3500 sacks. The Wanaka is due w sail to-morrow with a small cargo. It is impossible to obtain an account of the transfers that are taking place at the port. The shipments altogether do not exceed a week’s. Auckland’s supply is over 6000 tons. Linseed has eased, and is quoted at £l6 10s. a ton. Ryegrass, cocksfoot, and clovers are dull of sale, with no difference in quotations. There is a fair demand for good 'bright chaff 'at up to £3 15s. on trucks, but the cost of sacks eats so heavily into the price that farmers are generally prepared to leave the chaff where it is in the stacks. Undergrade is not inquired for. The pea market is completely in the doldrums at present, hence the demand shows no life. Onions have been inquired for from Sydney. There is a margin for export, but the irregularity of chipping is a barrier. Quotations to -growers are £7 16s. on tr uck»

COMMERCIAL ITEMS

WELLINGTON STOCK EXCHANGE YESTERDAY’S BUSINESS AND PRICES At the morning call yesterday a sale of Union Steam preference shares at 20s. 3d. was reported. At the afternoon call sales were reported of the 4} per cents, maturing in 1938 ano 1939, at £97 ss. each. There was again a good demand for Government stocks and bonds, with buyers of the 4j pel cents, at £97 2s. 6d., the 5 per cents, at £97 17s. 6d., and the 5J per cents, at £lOO 10s. There was a slower demand for bank shares. Bank of Australasia shares weie 6d. higher at £l3 IGs. For Bank of New Zealand shares buyers offered 545. for the old issue, and 535. for the new. Abraham and Williams ordinary shares were firm at £4, New Zealand and River Plate were steady at 215., and there were buyers of Wellington Investment shares at 9s. 9d., and Wriglit Stephenson preference shares at 16s. 9d. New Zealand Insurance shares were firm at 31s. Bd. Gear shares were steady at 445. There was a good demand for Huddart Parker shares, with buyers of the ordinary at 435. 3d., and the preference at 20s. 3d. Westport Coal shares were in demand at 325.' 9d. Timber shares were firm. There were buyers of Leyland, O’Brien Timber at 53s 6d. ex dividend, National Timber at 235. Bd., and Bartholomew Timber at 21s 3d. -For New Zealand Breweries’ shares 375. 6d. was bid, and for Ward and Co. brewery shares £2 17s. 6d. There was a fair demand for miscellaneous shares, with buyers of Burns, Philp and Co. shares at 365. 9d., D.I.C. preference at 20s. 6d., Farmers’ Co-op, Auctioneering ordinary at £3 145., Howard Smith at 355. 3d., New Zealand Paper Mills at 21s. cum dividend, Taranaki Oil at 275., and Wilson’s Cement at 325. 6d. ' Yesterday’s buying and selling quotations were as under:—

SALES IN OTHER CENTRES By Telegraph—Press Association. Auckland, May 1. Sales: Soldiers’ Bonds, £lOO 155.; Soldiers' Inscribed Stock, £lOO 155.; Auckland Gas, 235. lid. Christchurch, May 1. Sales: New Zealand Refrigerating (paid), 20s. 4d.„ 20s. (id., (cont.) 10s. 3d. (two paroels); Manning’s Brewery (ex div.), 3< s. NEW ZEALAND INVESTMENT COMPANY . A STEADY IMPROVEMENT At yesterday’s annual meeting of the New 'Zealand Investment, Mortgage and Deposit Company, the chairman (Mr. W. J. Foster) commented upon the steady improvement of the company’s business during the past twelve months. The 'deposits, he said, had increased by .£5690 14s. 5d., and on tlie credit side mortgages were £4262 Ils. lid. less than last year, while special deposits were £10,450 higher. Interest, paid and. accrued, was £62 ss. 2d. more, and interest, fees, etc., received were £356 Bs. 7d. Chargee were less and income tax sliglitly more, and the increase of £389 15s. profit for the yeai enabled a distribu tion (incktisive of interim dividend) of 7 per cent, fol the twelve months, a similar addition to the reserve account, and the carrying forward to next year of £436 19s. 3d. The report and balance-sheet were adopted. Mr. G. Fitzgerald was re-elected to the directorate. On the motion of Mr. C. F. Taine, it was decided to increase the honorarium of the ' directors to £l5O per annum. The question of having the company’s shares quoted on the Stock Exchange , was raised, and the chairman .assured members that the matter would be favourably considered. AUSTRALIAN PRODUCE. Melbourne, May 1. Oats, milling. 2s. £d. to 2s. 10d., feed 2s. 6d. to 2s. Bd. per bushel; barley, English. ss. 6d. to ss. 9d.; Cape 4s. to Is. 6d. per bushel; potatoes, £6 to £7 ss. per ton; onions, £l2 10s. to £l4 per toil. Adelaiae, May 1. Oats, 2s. to 2s. 3d. per bushel, , LONDON HIDE MARKET. (Rec. May 1, 5.5 p.m.) London, May 30. The hides sales are dull. Australian salteds are all nominally “u.; dry salt-ids, 201 b. to 301 b., 10d.; 301 b. to 401 b., lOd. - MELBOURNE HIDE SALES. Melbourne, Alay 1Hides are irregular. Lights and heavy kips declined by from Id. to- -;d. Others are firm. LONDON MARKET REPORTS. (Rec. May 1. 8.45 p.m.) London, April 30. Wheat. —Cargoes are steadier on account of North American firmness, but prices are unchanged. Parcels are stronger, but. inactive. Liverpool futures are: May, lis. 61d.; July. Ils. 7Jd.; October, Us. The spot trade is qniet. Prices generally are irregular. Australian, ex ship, 595. 6d. Flour.—The market is slow v Australian, ex store,. 455. Barley.—Prices are steady. Oats, Beans and Peas.—The market is slow and tending to b? easier. Sugar.—Prices are unchanged. CHICAGO WHEAT FUTURES. (Rec. May I,' 5.5 p.m.) New York, April 30. Chicago wheat futures: May, Ijdollar 53J cents; July, 1 dollar 42 cents; September, 1 dollar 34} cents. j EXCHANGE RATES.' (Rec. May 1. 8.45 p.m.) X-oiidoii, April 30. Foreign rates of exchange on April 30, as compared with par rates or as averaged first half of 1914,. are as follow:— Apr. 30. Apr. 23. Par.

PRICES OF METALS. , (Rec. May 1, 10.30 p.m.) London, April 30. Copper, on spot, £6O 16s. 3d. per ton; forward deliver, £6l 16s. 3d. Lead, £32 2s. 6d., and £3l ISs. 9d. Spelter. £34 ss. and £33 10s. Tin .42(5 ss. and £247 12s. 6d. Silver, standard, 31}d. per ounce; fine, 33£d. J Messrs. Dalgety and Co., Ltd., report having held their fortnightly sale nt Taihape on April 29, when a good yarding of sheep and a small entry of. catt’e came to hand. There was a fair attendance of buyers' Competition was somewhat restricted/ and pilccs generally were in favour of buyers, there beiii" a slight decrease in values. Quotations —4-tooth wethers (small, 245.; 4. 6, and 8-tooth wethers, 295. to 325. 6d.; “onil 2-tooth wethers, 30s. 6d. to 31s.’ C<l.; f. and f. wethers, 355.; extra good m.s, f. and f. lambs, 315.; store cows, £2 15s. 6d.

Buyers. Sellers. N.Z. GOVT. LOANS— X* s. d. £ s. d. 4* p.c. Insc. Stk., 1930 97 p 6 97 7 6 4* p.c. ditto, 3938 .... 97 •> 6 97 3 0 51 p.c. ditto,’1933 .... —— 101 0 0 4 A p.c. Bonds, 1939 .. 97 2 6 — '4* p.c. ditto, 1935? .... 97 o 6 —— 51 p.c. ditto. 1933 ...100 io 0 — 5 p.c. P.O. Insc. Stk., 1929 97 10 0 —— 5 p.c. ditto. 1927 .... 97 15 0 — 5 p.c. P.O. Bonds, 1927 98 2 6 98 5 0 DEBENTURES— N.Z. Breweries (bonds) 1 1 10 —. BANKS— Australasia 13 16 0 —— National of N.Z —— 7 2 6 New Zealand 2 14 0 — Ditto (new issue) .... o 13 0 —— FINANCIAL— Abraham and Williams (ord.) 4 0 0 —• N.Z. and River Plate 1 \1 0 —— Well. Investment .... 0 9 9 0 10 p Wright, Stephenson (pref.) GAS— 0 16 9 0 17 3 Wellington (pref.) .. —— 0 17 0 INSURANCE— New Zealand 1 11 8 1 12 0 MEAT PRESERVING— N.Z. Refrigerating (£1) —— 1 1 0 Ditto (10s.) —- 0 10 4 Gear 2 4 0 — Well. Meat Exp. (£3 12s. fid.) 2 0 0 TRANSPORT— 3 Hiiddart-Pnrker (ord.) 2 3 2 3 9 Ditto (pref.) 1 0 3 —• Union Steam (pref.) .. 1 0 6 P. and O. def. stock .. —— 295 0 0 WOOLLEN— Kaiapoi (ord.) — 0 13 9 Wellington (ord.) ... ——• 6 4 0 COAL— Westport 1 12 9 TIMBER— Kauri —— 1 13 7 Levland-O’Brien (x.d.) 0 1; 6 National i 3 8 1 4 0 Bartholomew 1 1 3 1 1 9 BREWERIES— N.Z. 1 17 R —— Ward and Co 2 17 6 — J

MISCELLANEOUS— Burns, Philp, and Co. 1 IB 9 1 17 3 D.I.C. (pref.) 1 0 (1 —— Fanners’ Co-op. Auct. 3 14 0 __— Howard Smith 1 15 1 IB 0 Newton King (ord.).. 0 8 1) — N.Z. Paper Mills (cum.) 1 1 0 1 2 0 Radiac Metals I 10 0 —— Taranaki Oil Fields .. 1 7 0 1 10 0 Wairarapa Farmers’ 0 17 3 Wilson’s Cement .... 1 12 6 MINING— 0 5 6 Mt Lyell 1 1 3 Waihi' (cum.) 1 7 0 Vogel's Vision — 0 G 0 — 1 2 0 Consolidated Goldfields 0 0 5

Now York, dols. to £1 4.S4J 8.80£ 4.866 Montreal, dols. to £1 4.844 4.S0 4.866 Paris, francs to £1 92.65 25.22} Brussels, francs to £1 95.60 9-L85 25.22 i Amsterdam, florins to £1 12.07} 11.99} 12.107 Stockholm, knr. to £1 J8.ll 17.S0 IS.12 Oslo, knr. to £1 .. 29.43 29.45 18.12 Copenhagen, knr. to £ 1 ' 25.96 25.96 18.12 Berlin, Reichsmark to £1 20.37 20.15 •— Rome, lire to £1 .. 11SJ 117 25.22$ Yokohama, pence to 20} 21 24.43 Calcutta, pence to rupee ............ 17} 17} 24 Hong-Kong, pence to dol 27} 24 Batavia, florins to £1 12.08 12.01 —