FARM & COMMERCIAL

Dominion, Volume 20, Issue 45, 17 November 1926, Page 14

FARM & COMMERCIAL

AUCTION SALES TO-DAY. 98 Manners Street, 2 p.in.—Sale of household furniture (R. Wilson and Co.). Epsom Showgrounds, Auckland, 10 a.m. —Sale of live stock (Wright, Stephenson, and Co.). Farm. Otaki Railway. 12.30 p.m.—Stocksale. (Abraham and Williams). Columba Road Yards—-Salo of Aberdeen zlngus cattle (W.F. Co.-op. A.) Johnsonville 12.30 p.m.—Stock sale (Abraham and Williams, and Wright Stephenson, and Co.). TO-MORROW. Dominion Fanners’ Institute, 2.30 p.m. —Sale of properties (11. Baker, Ltd.) Otaki—Stock sale 8 Willeston Street. 10.30 a.ni. (2 days).— Sale of China, crystal, and art brassware (E. Johnston and Co.). Upper Hutt. B.C. Offices. 2.30 p.m.— Sale of land (Harcourt and Co.). FRIDAY. Feilding, 11.30 a.m— Cattle fair. FARMING INTERESTS LONDON WOOL SALES QUANTITY TO BE OFFERED. (Rec. November 16, 7.55 p.m.) London, November 15. The available quantity cf wool for the sales opening in London on November 23 will be 137,600 bales, including now arrivals of Australian 55,600 bales and New Zealand 28,500. The Bradford tops market shows a better tone and more business is doing at slightly easier prices. Messrs. Murray. Roberts and Co.,- Ltd., are in receipt of the following cablegram from their London agents:—The following vessels have arrived in time for the consignments of wool by them Io be offered in the next series (November 23):—Tainui. Pakeha, Athenic, Corinlhie, Maimoa, Matatua, Rotorua-, Reniucra. Messrs." Dalgoty ami Co., Ltd., report having received the following cablegram from their London house, under date November 15:—The list of arrivals for the next wool sales closed on November 15. The’ following arc the quantities available: —Australian, 55,600 • bales; Cape, 2000; New Zealand, 28.500; South American, 2500; carried forward, 49,000; total quantity available, 137,600.

NEWS AND NOTES

TICK AT THE ROYAL SHOW RIGOROUS INSPECTION BY DEPARTMENT ANIMALS EXCLUDED FROM GROUNDS BV TELEGRAPH.—PRESS ASSOCIATION. Auckland, November 16. About eighteen head of cattle brought in from Whangarei, Dargaville* and Takanitii were not permitted to enter the show grounds at the Royal Show to-day because they were found to be affected with tick. At a < onference with the officers of the Stock Department, the Royal Show authorities undertook to take every care to see that no animals affected with tick would be exhibited, and in ■■ ccordauce with the arrangement then made six inspectors commenced work rt the entrance of the show grounds at four o’clock this morning and subjected each beast penned to a most minute examination. If a tick cr two were found on one animal which accompanied others in their journey to Auckland the whole group was barred. The decision of the inspectors caused keen disappointment.-to intending exhibitors whose cattle were not permitted to enter," ’but the inspectors carried out their work with firmness .-nd their decisions were upheld by the show authorities. Arrangements were immediately made for the spraying of the affected animals. Cattle of nearly every breed came under the ban of the inspectors. One group of Jerseys was owned by A. R. Watkins, of Takanini. He afterwards stated that tick was not to be found on his farm and considered his cows picked up the pest in the railway truck. This, he stated, was in a dirtv condition when it was made available to him. The Jersey Breeders’ Association intends taking the matter up with the Department. Visitors from Australia stated that Australian cattle were barred from being exhibited in New Zealand for fear of their bringing tick and disease into the country. It appeared, they said, that from the experiences of the owners of the cattle which were barred from the show to-day that there was no more fear of tick and disease spreading from Australia than there was from one part of New Zealand to another.

All cattle paddocked in the show grounds to-night will be inspected by the Stock Department’s officers before being penned to-morrow morning, and all cattle leaving the show on Thursday for the north, for Taranaki, and for points south of Te Awamutu will be sprayed with strong disinfectants before departure from Auckland. SOUTH TARANAKI WINTER SHOW PROFITS BY TELEGRAM PRESS ASSOCIATION Hawera, November 16. Returns respecting the South Taranaki Winter Show for the current year give a net profit of £1417, a record for the association. During one day of the show 10,060 people paid for admission. WHOLESALE PRODUCE PRICES Messrs. Laory and Co., Ltd., report wholesale values as follow:—Mixed fowl feed, 5-sack lots or over 6s. 6d., lesser lots 6s. 9d. bushel; linseed meal, IGs.; linseed nuts, 14s. per 1001 b. bag; whole linseed, 20s. 6d.; oyster shell grit, 5-sack lots or over 55., lesser lots sg. 6d. per 1001 b.; pipi shell grit, 5-sack lots or over' 55., lesser lots ss. 6d. per 1001 b.; cats, machine-dressed seed Algerians 6s. 3d. to 6s. (id., Duns 6s. 3d. to 6s. 6d., Gartons, seed ss. 4d., feed, 10-sack lots -Is. Id., lesser lots 4s. 6d., crushed ss. 6d. black cats ss. 6d. per bushel, sacks in; Algerians 4s. 10d., Gartons ss. 2d.; shell- 1 ed oats, for chicks, 6s. 3d. per bushel; South African maize, whole 7s. 3d., crushed 7s. 9d. per bushel; barley, feed, ss. 6d.; wheat, Australian milling. Bs. 3d., sacks in; wheatmeal, feed, ton lots £l6, undergrade Gartons for pig food 3s. Ud. per bushel in 10-sack lots; rye corn, 10-sack lots or over 6s. 7d., les.-er lots fe. 9d. per bushel; butter, prime farmers’ separator lid., dairy, bulk and pats lid. to Is.; turkeys, Is. 2d. to Is. 3d. per lb.; eggs, first-grade new-laid 1«. 9d. to Is. 10d., storekeepers, Is. Bd.; duck--. Runners, young 10s. Io 125., large whites 14s. to 155.,. old 95.; fowls, White Leghorns 6s. to Bs., Black Orpingtons and similar heavy varieties 10s. to 125.; fungus, New Zealand. 9d. to lOd. per lb.; roosters. White Leghorns, Bs. to 95.; dressed pork, GO’s to 90’s Sd. to 9d.; sucking pigs, 81d. to 9Jd. per lb.; honey (discoloured), in 601 h. tins, sd. per lb.; sucrosine, half-ton lots or over £l2 10s., lesser lots' 135.; feed peas and beans, 7s. 3d. per bushel, sacks in; rock salt, (is. per bag; molasses, in casks 40s. each, in cases Bs. 6d.; Blenheim chaff, ton lots, prime £lO 155., good heavy £9 ss. to £lO per ton, sacks in: mutton bints, in kits, cooked and salted, lid. per bird; basic slag. £5 per ton; superphosphates, £5 10s., f.O-r. New lilymouth, less discounts; Chinese peanuts in shell, sack lots, 4ld. per lb.; Java shelled peanuts, sack lots. 4jd. per lb,; bran, half-ton lots or over £9 10?. ton, lesser lots 12s. cwt.; pollard, half-ton lots or over £ll [Os. per ton, lesser lots 12s. per cwt.; babv chick raiser, 225. per 1001 b. bag; chick raiser, coarse, 21s. per 1001 b. bag; pigmeal, £ll 15s.- per ton for ton lots, lesser lots 10s. per 1001 b.; poultry spice, cases containing 10 packets, £3 10’. per case, lesser lots 2s. 6d. per packet; black leaf "40” spray, 21b. tins 13s. each, 101 b. tins 50s. each net; potatoes, Dakotas, ton lots. Canterbury grown £5 to £5 10-., North Island £4 per ton; seed potatoes'. New Era £8 10s.. Arran Chief £6 Ids.. Gamekeeper £7 55., Red Dakotas £6 10s. per ton. all South Island grown; potatoes for pigs dr poultry, 4s. per sack; now potatoes. 16s. to 17s. per cwt. SHIPMENTS OF MEAT FROM SOUTH .AMERICA The New Zealand Meat Producers’ Board lias received a cablegram from its representatives at Buenos Ayres advising tiie following shipments io the United Kingdom for the fortnight ended November 11. from Argentine and Uruguay: 182,175 quarters chilled beef, 7980 quarters frozen beef, 32.185 carcasses frozen mutton, 74,611 carcasses frozen lamb. ■ The quantity shipped to the Continent of Europe during the same period totalled: 60,613 quarters frozen beef, 5100 carcasses frozen mutton. STOCK SALES Messrs. Dalgoty and Co., Ltd., Palmerston North, report:—At the Marton sale on November 8 there was a moderate entry of sheep and cattle. Quotations: Fat woolly ewes, 255.; fat woolly maiden owes, 265. 7d.; lilt b.f. hoggets, 265.; extra good wet het hoggets. 275.; light fat cows amt heifers, £4 13s. to £5; wealier pigs. 25 s. (id. At the Mangaweka sale on November 11. there was a very good yarding of cattle and n mii,i lt entry of sheep. Quotations: Light fat woolly ewes, 225. (id.: empti cows. .£2 14s. til £3 Is.: 3-ycat steers. £6 75.. 3 and 1-year steers in low condition. £6 17s. lid., £7. £7 7s, Cd., £7. 10s.; 4year bullocks, £7 19s.

A FIRST-CLASS STOCK COUNTRY ft MINISTER’S PRAISE OF DOMINION Dominion Special. Auckland, November lu. The Minister ot Agriculture (lion. O. J. llawkeu). in speaking at the lioyuJ Show Luncheon said New Zealand was rapidly becoming a first-class stock country. This was shown by the recent exports of sheep to South Ameiica this year and last year. Shipments had been sent to the Falkland Island to help the industry there, and 400 head would shortly be shipped to Patagonia. The landed cost of this last consignment would lio about £-18,000. The money received by New Zealand breeders was a consideration, but au important point was that people were coming to New Zealand for first-class sheep, lie hoped that these exports would continue. The Dominion was tending to become a country of small farmers, and close cultivation of the ground such as lie had remarked in fruit-growing districts just outside Auckland, where comparatively poor laud had been tu.rncd to excellent account. New Zealand was considered a great producing country, but undoubtedly it would greatly increase its present output, and maintain its present quality. COMMERCIAL ITEMS e> WELLINGTON STOCK EXCHANGE YESTERDAY’S BUSINESS AND PRICES At the afternoon call yesterday sales of 51 per ccut. bonds at £lOO 12s. 6d. and Bank of New Zealand shares at 60s. 6d. were made on ’Change, and the sales reported were N.Z. Breweries 10 percent. bonds at 255., Wellington Investment at 10s. 9d., and New' Zealand Breweries at 525., and 525. 3d. There was a very good defiiand for Government stocks and bonds, with buyers oi the 41 per cents, al £96 10s., the 5 per cents, nt £99, and the 5J per cents, at £lOO 10s. Wellington Racing Club debentures were firm at £lO6, and N.Z. Breweries bonds at 245. 9d. Bank shares were slow. There were buyers of National Bank at £6 ll)s. (id., and Bank of NewZealand at 60s. 6d. Sellers quoted £45 ss. for Bank of New South Wales, and £l5 6s. 6d. for Union Bank shares. Financial shares were in better demand than for some time. There were bids of £95 for N.Z. Loan and Mercantile, ordinary, 10s. sd. for N.Z. Guarantee Corporation, ordinary, £9 2s. 6d. for Equitable Building, 9s. 3d. for N.Z. Investment, 10s. 6d. for Wellington Investment, and £6 9s. for Wellington Trust and Loan. Christchurch Gas shares were in demand at 235. 9d., and Wellington Gas, preference, at 16s. 3d. There were buyers of N.Z. Refrigerating shares, 10s. paid, at 6s. 7d., Union Steam, preference, at 20s. 4d., and Kclburn Trams at 265. 6d. Wellington Woollen shares were firm at £6 10s. There was a bid of 10s. 6d. for Leyland and O’Brien Timber shares. Brewery shares were firm, and there were buyers of Manning and Co. at 205., New Zealand Breweries at 51s.’ 3d., Staples and Co. at 375., and Ward and Co. at 425. 6d. Other shares in demand were C. M. Banks ordinary at 225. 9d., Milburn Lime at 30s. 6d„ and Taranaki Oil at 9s. Yesterday’s buying ’and selling quotations were as under:—’ Buyers. Sellers.

SALES IN OTHER CENTRES By TEtiEGRAPn. —Press association Auckland, November 16. Sales—War Loan (1927, 5 per cent..), £99 2s. 6d.; Commercial Bank of Australia” 31s. 9d.; National Bank of New Zealand, £7 Is.; Bank of New South Wales, £1! 17s- G‘l-; South British insurance, 575.; Taranaki Oil, 10s.; Alburnia, 4s. 5d., 4s. (id.; Moanataian, 35.; ditto (contributing issue), 2s. 5d., 3s. 3d., 3s 6<l„ 3s. 5<1., 4s„ 4s. 2d., 4s. sd„ 4s. (id Is. 8<1.; New Waiotahi (contributing issue). Is. Id., Is. 5(1., Is. 7d.; Grand Junction, 2s. 4d. Dunedin, November 1(>. Sales—Kawarau, 3s. (three parcels); Upper Nevis. 3s. 3d., 3s. prem. (two). CHICAGO WHEAT QUOTATIONS. Chicago, November 15. Wheat quotations: December, 1 dollar 361 cents per bushel May, 1 dollar 41 cents; July, 1 dollar 34 cents. ENGLISH WHEAT MARKETS. (Ree. Novembei 16, 7.55 p.m.) London, November 15. Wheat—Cargoes are inactive at 3d. to nd per quarter easict on free American .fferings, making closing prices lower. I’m-cels arc in small request at (id. to pei . quartet . decline. IIVL-lpool flltules:. Deeclllbet. Ils. (i.Jd. ; March, ; 10s. 10d.; ,Alay, 10s. .6Jd. per 'cental.

MOANATAIARI MINE SHARP. RISE IN SHARES Dominion Special. Auckland, November 16. X satisfactory report from the mine to-day caused a sharp rise in Aloanalaiari shares on the Auckland shai’Cmarket. • Interest centred chieily in the contributing issue, for which the price opened at 2s. sd. and closed at 4>s. Bd. The mine manager’s telegraphed report was that; “Strong dabs and colours of gold are showing in the main of the reef in the lust crosscut. Recently the contributing issue has been selling round about 2s. 6d. and a sale at the first call prior to receipt oi the report was at 2s. sd. At the noon call, sales were at 3s. 3d., 3s. 6d. an 3s. 5d., and more were available then at -*3s. sd. with buyers offering 3s. 3d. In the afternoon the market opened at tlio midday figure, but when the strength of the demand made itself felt prices rose io 3s. 6d., 45.. 4s. 2d., 4a. 5d., and 4s. 6d. Late buvers offered 4s. 5d., sellers quoting 4s. 7d. A sale was subsequently reported at -Is. Sd. The fully paid issue moved in sympathy, although there was only one transaction at 3». thts taking place at the noon call. Closing offers of 4s. fid. were met by quotations of ss. REFLECTIONS ON THE WOOL SALE The first wool sale cf the season held in Wellington on Monday was very different from the first sale held last season There is the lo(vcr ra ? s ® of prices, but the November sale last voar also showed a setback m values as compared with March, >925, and the decline was more pronounced than is shown this year. Two seasons ego the trade was led away by statistics ot socalled experts, and these statistics which were afterwards found' to be quite unreliable. were optimistic in the extreme, consequently those who were guided by them paid extreme prices for the raw material and suffered heavy Josses, lhe prices realised in November, >924, were not seen again, and the market steadily declined. Tn the interval between March and November last year there was the resumption of the gold standard, and operators in the raw material . were counting up their losses. Writing on the November sale of 1925, one firm of selling brokers remarked: “Since the last main saio on March 27 (1925),. the wool trade has witnessed a slide in values, which few had anticipated. The trade is accustomed to fluctuations, and eper. ators take their setbacks as part 'of tho ordinary course of business, but never before has there been such a recession in values, nor lias the -trade all round been faced with such heavy losses.” Tn spite of all this the No. vember sale proved to be the best of tlio 1925-26 scries. When wc review the opening sale of this year there is to be taken into consideration tlie fact that from May last the trade has been subject io the adverse influence of labour troubles. Bradford has been working part time, and, furthermore, has had to submit to keen competition from the Continent. It was anticipated last. Monday that whatever support the market leceived it would come from the Continent, but 'in actual fact it was Bradford that helped the market along. Continental buyers were probably restricted by financial needs, and America was not in a buying mood. Bradford, however, was after cheap wool, cheap from Bradford’s viewpoint, and that the Yorkshire representatives bought more freely than the other sections leads to tho conclusion that wool values at Monday’s sale were very reasonable. From this it is safe to conclude that the future of wool is better than the first sale indicated; that is to say, wool is not likely to be cheaper than it was on Monday. With the miners’ strike in Britain' nt an end. there is a strong probability of a great revival in w-hieh tho textile trade of Yorkshire must share, and that being so. Bradford must become a greedy consumer if v 001. for the stocks in hand nre believed to bo very low. Monday’s sale, instead of causing a feeling of depression to woolgrowers, should be accented as a hopeful sign for the immediate future of wool. Bradford is a very accurate barometer of trade prospects in wool. ASHBURTON GAS COMPANY The balance-sheet of the Ashburton Gas Company for the year ended September 30, shows that the sales of gas, coke, tar, etc., amounted to £10,583, against £10,053 in the previous year. 'ltie expenses including repairs, maintenance, and depreciation totalled £B7OB, as compared with £B2Ol, leaving the net profit at £1875, against £1853 last year. With the sum of £348 brought forward there is available £2223. The dividend nt the rate of 8 per cent, per annum absorbs £1787, leaving £136 to be carried forward. 'J’he balance-sheet items with the figures for last year in parentheses are as follow: Liabilities —Capital paid up £22,34-0 (£22,340); reserve funds, £2OOO (£1750); renewal funds, £4OO (£246); deposit account, £5OO (nil); deposits and accrued interest, £429 (£428); bank overdraft, nil (£890); sundry creditors, £B9 (£95); profit and loss account, £2223 (£2135). Assets—Freehold property, buildings, plants, etc., £24,428 (£24.517); sundry debtors, £2130 (£2121); stock on hand, £ll2O (£1246); and cash, £3 (nil). Total, £27,981 (£27,884). EXCHANGE KATES. (Kcc. November 16, 7.55 pan.) I.nmlon, November 15. Foreign rates of exaliange on November 15. as compared with par rates, or as averaged first half of 1914, are as follow:— Nov. 15. Nov. 11. Par. New York, dols. to £1 4.851-16 4.84 13-16 4.866 Montreal, dels, to £1 4.848 8.841 4.866 Paris, francs to £1 144.G3 150.38 25.22 J Brussels, belgas to £1 34.84 34.82 — Amsterdam, florins to £1 12.12} 12.12 12.107 Stockholm, knr. to £1 18.17 18.17 18.12 Oslo, knr. to £1 19.40 19.37 18.12 Copenhagen, knr. to £i 18.20 18.20 18.12 Berlin, Reichsmark to £1 .. 20.43 20 42 - Koine, lire to £1 118.13 118.38 2e.22 Yokohama, pence to yen -It -it -’- 40 C! r l upee a ’ PC . l '':' < :.‘ o 17} 17} 24 H^° ng ’. 23} 23i 24 BMtB-ia, florins to

THE METALS MARKETS. (Rec. November 16, 8.40 p.m.) London, November 15. Copper.—Standard, on spot, £57 16a 3d.- forward delivery, £5B 13s. 9d. Lead.—£29 10s. and £3O. Spelter.-£34 and £33 17s. 6d. Tin.—.£3ll ss. and £3Ol 12s. 6d. . Silver.—Standard. 25Jd.; fine, 27-Jd. per ounce. CUSTOMS REVENUE. The Customs revenue collected at tne port of Wellington yesterday totalled r-<;i9S.

N.Z. GOVT. LOANS— £ s. d. £ s. d. 41 p.c. Ins. Stk., 1939.96 11) 0 — 4-.V p.c. ditto, 1938 .... 96 10 0 —— 5A p.c. ditto, 1933 ....100 10 0 100 15 0 5+ p.c. ditto, 1927/1941 90 10 0 — 5* p.c. ditto, 193(1 .... 00 10 0 — 4i p.c. Bonds. 1939 .. 9(1 10 0 — 4J p.c. ditto, 1938 .... 96 10 0 —• 41 p.c. ditto, 1930 .... 97 7 6 —— 54 p.c. ditto, 1933 .... 00 10 0 —- 5 n.c. P.O. Bonds, 1927 99 0 0 —— DEBENTURES102 0 Wellington Gas —- 0 Well. Racing Club . .106 0 0 — N.Z. Breweries (stock) 1 5 3 Ditto (bonds) BANKS1 4 9 1 5 6 National of N.Z 6 19 6 — Now South Wales ... —— ■15 5 0 New Zealand ........ 3 0 3 —— Union of Australia .. FINANCIAL— — 15 6 6 Equitable Building .. N.Z. Guarantee Corp. 9 G — (ord.. 8s.) 0 10 <J —— N.Z. Investment N.Z. Loan and Merc. 0 95 9 — Agency (ord.) 0 0 — Wellington Investment 0 10 6 —- Wellington Trust, Loan 0 9 0 — Wellington Deposit .. Wright, Stephenson — 010 4 '6 (ord.) —— 1 4 Ditto (pref.) GAS— — 0 17 0 Auckland (paid) —— 1 4 0 1 3 9 1 4 6 0 12 0 Wellington (ord.) ... — 1 7 3 Ditto (pref.) INSURANCE— 0 16 3 — National (cum.) — 4 0 0 New Zealand MEAT PRESERVING— — 1 19 6 N.Z. Refrigerat. (10s.) 0 0 7 0 7 0 TRANSPORT-Huddart-Parker (ord.) —— 2 7 9 Union Steam (pref.)., p. and O. def. stock 1 0 4 250 0 ■ — 0 Kelli, and Karon Tram. 6 1 6 » * WOOLLENWellington (ord. and 6 10 0 . ■» COAL— 1 17 9 TIMBER— Leyland-O’Brien .... 0 0 6 2 3 0 Taringamutu —. 1 8 . ... 0 16 BREWERIES— Manning and Co 1 0 0 1 1 c New Zealand 2 11 3 •— Staples and Co....... .1 0 17 0 G 1 18 2 3 0 6 MISCELLANEOUS— C. M. Banks (ord.) .. 1 2 9 — 9 —•. 1 19 Electrolytic Zinc (ord.) — 1 16 9 Ditto (pref.) ■— 1 17 —... 1 12 9 Milburn Lime & Cement 1 10 6 — " Z. Paper Mills .... — 1 0 0 9 ■ 1 2 Sharia nd & Co. (ord.) — 1 2 9 Taranaki Oil Fields .. 0 9 0 Wilson’s Cement —— 1 13 9 MINING— Blackwater Mines ... Waihi Kawaratl 0 — 0 0 19 c 0 2 9 —