FARM & COMMERCIAL

Dominion, Volume 19, Issue 48, 20 November 1926, Page 12

FARM & COMMERCIAL

NEWS AND NOTES

AUCTION SALES TO-DAY. Waterloo Road, Lower Hutt, 2.30 p.m.— Salo of residence (Li. E. LeigUton). MONDAY. 268 Upper Willis Street, 1 p.m.—Sale of builder’s plant (E. Johnston and Co.). Islington Road, Trentham, 1.30 p.m.— Sale of household furnishings (E. Johnston and Co.). TUESDAY. Levin—Stock sale. 8 Willeston Street, 1.30 p.m.—Sale of timber (E. Johnston and Co.). WOOL MARKET BRADFORD PRICES FIRM. London, November 18. The Bradford market is steady, but cautious, and prices are firm at: 64’s, 3s. 9Jd.; 60’s. 3s. 7d.; 56’s. 2s. 7Jci.; 50s, 2s. 2d.; 46*s, Is. 2d.; and 40’s, Is. Bd.

FARMING INTERESTS

CANTERBURY MARKETS EXCEPTIONALLY QUIET. BY Telegraph.—Pbess Association. Christchurch, November 19. Business in the produce market continues to be as quiet a= it has evei been at tlie present time of the year, and there does not appear to be any immediate prospect of improvement. A small amount of business has been done in next year’s wheat, prices paid being on a basis of 6s. on trucks at country stations. Owing to the reduction in values of wheat and flour in Australia, which has been brought about through the coal strike in England, resulting in shipping freights having to be raised in order to meet the increased cost of coal, a good many buyers have withdrawn in the meantime, and this is having an adverse effect locally. A few sales of fowl wheat have been made at a rate equal to 7s. 6d., f.0.b., but inquiries have come mostly from retailers. millers not being interested in the business.

No oats are being sold at present, the opinion among merchants being that prices will have to come down considerably before business in this line will improve. The local consumption of oats is decreasing every year, as popularity of motor transport increases, and, according to one merchant, it will be a matter of surprise if new season’s prices open at more than 2s. Gd. on trucks at country stations. New season’s partridge peas have been offered at 65., but very little business is t being done at present. Trade in potatoes is practically at an end, although a few odd lines aie still being disposed of The Whangape, which left for Sydney earlier in the week, took 1605 sacks, and it is expected that a further small consignment will be shipped next week. A few lots are also being shipped north since the recent rains in the North Island had the effect of holding up supplies of new potatoes temporarily. So far as the local crops are concerned they are looking very well, and prospects' for the new season are good, provided no further rain falls for some time. FEILDING STOCK SALE ALL ROUND DECLINE FOR SHEEP. BY TELEGRAPH.—I’BESS ASSOCIATION. Feilding, November 19At the Feilding stock sale to-day there was a medium yarding cf sheep of all classes, and though practically the whole yarding changed hands, bidding was dull throughout, and prices showed a decline all round, especially on fat sheep. Quotalions:—Fats: Woolly ewes, 18s. 6<l. to 335. 7d.; maiden ewes, 235. to 245. 3d.; hoggets, 21s. to 21s. 9d.; shorn fat ewes, 18s. 3d; maiden ewes and wethers. 235. Stores: Woolly F.F. wethers, 255. Id.; wether hoggets, 18s. to 215.; store ewes, 15s. to 165.; forward shorn four-tooth wethers, 18s.; shorn two-tooth wethers. Ils. to 17s. Id.; ditto ewes. 195.; rough ewes, with 8.1. lambs, 255. 6d. A heavy yarding of cattle of all classes resulted in a poor sale. Store bullocks were in poor demand, several pens being passed in without a bid. Younger steers met with a poor demand. Forward empty cows sold well, especially those showing breeding. Quotations:— Four p.nd five-year Hereford bullocks. £7 10s.; ditto P.A. bullocks. £7 155.; three and four-year P.A. bullocks, £6 195.; forward four-year bullocks, £8 145.; twoyear Hereford steers (poor), £4 135.; speyed forward condition P.A. cows, £5 55.; forward empty P.A. cows. £4 17s. 6d. to £5; forward empty Hereford cows, £4 55.; P.B. empty S.H. cows, £5 3s. 6d.; two-year empty heifers. £3 3s. to £3 175.; yearling S.H. steers. £2 16s. 6d.; yearling S.H. heifers, 325. 6d.; yearling Jersey heifers (good). £5 to £5 7s. 6d.; yearling Jersey cross heifers, £2 to £3 15s. BUTTER AND CHEESE LONDON QUOTATIONS. London, November 18. The butter market is slow. Danish is at about 170 s. per cwt., and there is a fair trade in new season’s Australian. Cold-stored New Zealand butter is unchanged in price, but buyers consider that New Zealand control of prices of new arrivals at 148 s. and 150 s. per cwt. is too high, consequently there is very little selling. The multiple shops have reduced the retail price of the best salted butter to Is. sd. per lb. Cheese ,is slow of sale. New Zealand is quoted at 84s. and 85s. per cwt.

In this issue the New Zealand Loan and Mercantile Agency Co.. Ltd., Napier, give notice of an important sale of freehold land in the Mohaka district. The property is being sold by order of the Registrar of the Supreme Court at Napier. and is the well known "Springhill" station, situated on the Napier-Wairoa road. The property has a large frontage to the Mohaka River, and as a large portion of the country is flat : nd cultivated, it is eminently suitable for the fattening of lambs, considerable numbers being turned off annually. All i ecessary buildings are erected, as well as cattle and sheep yards, dip. etc. Full particulars may be obtained from the auctioneers, or Messrs. Carlile, McLean, Scanucll and Wood, Napier.

MARTON SHOW JUDGES APPOINTED. The Marton A. and P. Association have arrangements well in hand for the annual show, to be held on January 19, and at a meeting of the fommittee this week it was reported that the following judges for the various classes had signified their intention of officiating:— Light horses and competitions: Mr. J. H. Macniven, Clive. Draughts: Mr. H. E Hosken. Feilding. Cattle.—Ayrshires, Red Polls, and Milking Shorthorns: Mr. A. Montgomery. Kawhatau. Friesians: Mr. H. R. Green. Kairanga. Jerseys and grade Jerseys: Mr. H. J. Lancaster. Glen Oroua. Crossbred dairy cattle: Mr. C. A. Banks, Kiwi tea. Fat cattle: Mr. K. W. Deighton, Marton. Sheep.—Lincolns: Mr. R. Bremer, Waverley. Romneys: Mr. G. E. Allen, Maste’rton. Southdown s and Shropshires: Mr. W- J- Gimblett, Hastings. Fat sheep: Mr. A. Peters. Dannevirke. Pigs: Mr. N. P. Neilsen Taikitahuna. Sheep dogs: Mr. F. King, Bulls; School exhibits: Mr. F. Gabites, Palmerston North. Art and needlework: Mrs. V. H. Kitcat, Marton. Fruit aud vegetables: Mr. F. Sisson. Turakina. Home industries: Mr. J. F. MoKelvie. Carnarvon. FROZEN MEAT MARKET Messrs. Dalgety and Co., Ltd., report having received the following cablegram from their London house, under date November 18:— Lamb.—New Zealand prime crossbred' lamb: Canterbury, heavy 7id., light 9J<l.; North Island, heavy 7Jd., light 91d. Market weak; demand limited. Mutton.—New Zealand prime crossbred mutton: Canterbury, heavy 5Jd., light 61d.; North Island, heavy s<i„ light 5Jd. Market weak: demand ioor. Beef.—New Zealand prime ox beef: Hinds, 44d.; fores, 3’;d. Market weak; demand less. Australian Frozen Meat.—Good average quality crossbred lamb: Light, 9Jd.; heavy, not quoted. Market weak; demand moderate. Pork.—Market weaker owing to cheap supplies Argentine. Nominal quotation New Zealand on spot, lid. to lljd.

Messrs. M. A. Elliot. Ltd., Palmerston North, have received cabled advice from their London agents of the following Smithfield prices for the week ending November 19. These prices are on the "delivered” basis, that is, including storage charges, cartage, etc. Best North Island prime lambes: Under 361 b.. 9Sd.; 361 b. to 421 b., Bid.; 421 b. to 501 b., 6Jd. Ordinary North Island lambs: Under 421 b., Bid.; second quality, under 421 b„ Bid. Best North Island wethers and/or maiden ewes: 481 b. to 561 b., 6d.; 561 b. to to 641 b.. 6d.; 641 b. to 721 b., s|d ; over 721 b., 5Jd. Ordinary North Island wethers and/ or maiden ewes: 48lb. to 561 b., 53d.; 561 b. to 641 b., 53d.; 641 b. to 721 b.. 5Jd.; over 721 b.. sid. North Island ewes: Under 641 b.. 33d.; 641 b. to 721 b., 3rd.; over 721 b„ 3Jd. New ealand prime ox beef (equal fores and hinds): 1601 b. to 2201 b., 4Jd. Remarks: Lamb, par to id. lower; wethers, par to Jd. lower; ewes. Jd. lower; beef, no change.

DAIRY PRODUCE MARKET

Messrs. Dalgety and Co., Ltd., report having received the following cablegram from their London house, under date November 18 (last season's quotations shown in parentheses) :—

Butter.—Market steady, but very quiet, and inquiries limited to first grade. Last season’s stocks and secondary qualities mostly difficult to sell, and buyers holding off at present for new arrivals. New season’s minimum quotations: New Zealand finest, 1505.; first grade, 1485.; last season’s stored first grade. 138 s. to 1405.; second grade, 1325. nominal. Danish. 170 s. (1765.); Australian finest salted. 138 s. to 1445. (140 s. to 1465.); unsalted, 160 s. (1605.). Cheese.—Market slow. New season'squotations: New Zealand finest white and coloured, 85e.; first grade, 045.; Canadian white and coloured, 625. to 84s. (86s. to 875.).

COMMERCIAL ITEMS

WELLINGTON STOCK EXCHANGE YESTERDAY’S BUSINESS AND PRICES At the morning call yesterday a sale of Auckland Gas shares at 235. Bd. was reported, and at the afternoon call another sale also at 235. Bd. was reported. There was a good demand for Government stocks and bonds, with buyers of per cent, stock at £96 10s. and 5J per cents, at £lOO 10s. Wellington Racing Club debentures were firm at £lO6. Bank shares were slow. There were bids of £7 Is. for National Bank shares, £l5 ss. 6d. for Union Bank shares, and Gs. 6d. for Bank of N.Z. rights. Sellers quoted £l4 ss. for Bank of Australasia, <£4s for Bank of New South Wales, and 61s. for Bank of New Zealand. There was a very restricted demand for other shares. Buyers offered. 10s. 6d. for Wellington Investment, 235. Gd. for Auckland Gas, Gs. 9d. for N.Z. Refrigerating shares, 10s. paid, and 265. lid. for Kelburne Trams. Wellington Woollen shares were firm at £6 10s. Brewery shares were steady. There were buyers of Crown Brewery at 195., New Zealand Breweries at 525. 3d., Staples and Co. at 375. 3<1., and Ward and Co. at 425. Gd. Electrolytic Zinc ordinary shares were firm at 365., and Wilson’s Cement at 345. Gd.. cum. dividend..

Yesterday’s buying and selling quotations were as under: —

SALES IN OTHER CENTRES BY Telegraph.—Press assuuiaiiu>

Auckland, November 19. Sales.—Glaxo debentures. £B9: Bank of New Zealand (riguts), 6s. 7d.; Union Bank of Australia, £l5 4s. 6d.: Goldsbrough Mort, 495. 6d.; Hetherington Collieries (contrib.i, 6s. 3d.; Auckland Gas. 235. 9d.; ditto (coutrib.,, 135.; Kauri Timber, 295. 9d.; National Timber, 14s. 6d.; Taranaki Oil, 10s.; Alburnia, 4s. 5d.; Moanutaiari, ss. 3d.; ditto contrib.), ss. 9d., 5». 10d., ss. 9d., ss. 6d„ ss. 3d., 55., 4s. 9d.. 4s. 10<l., 55., 4s. lid.; Lucky Shot, Is. 4d.; ditto (contrib). Is. 2d.. Is. lid.; Waihi Grand Junction, 2s. 4d. Dunedin, November 19. Sales.—New Zealand Breweries debentures, 255.; Mouut Isa, 21s. 6d.; St Bathau’s (A issue), ss. 9d. prem. (two parcels); Kawarau, 3s. 2d. three). Sales Reported.—Electrolytic Zinc (ord.), 365. 6d.; Westport Coal (ex. div.), 365. THE PRODUCE MARKET The ending of the coal strike has not had time to make any impression on the markets, but the food markets should soon feel some beneficial effects from the resumption of employment in the coal and various other industries. Latest advices in respect to the butter market is that it is steady but very quiet, with inquiries limited to first grade. Quotations show no variations. Controlled butter continues to be quoted at 150 s. for finest, and 148 s. for first grade, with last season’s first grade at 138 s. to 140 s. Last season’s stocks and secondary qualities are difficult to sell. Danish butter stands at 170 s. a n d the spread between Danish and New Zealand of 20s. is rather pronounced, a difference of 10s. is less is about the normal. There appears to be a general policy of hand-to-mouth buying, because in almost' all markets prices show a downward tendency. lh® pure doctrine of economics would hold that falling prices stimulate buying, but in actual experience it has usually been the case that the first effect of falling prices has been to check buying, because buyers wait for still lower prices. The frozen meat market is also yery quiet, and best Canterbury light weight lamb is quoted at 9 7-Bd. and best North Island light lamb stands at 9Jd rhe market is reported weak and the demand is limited. Prime crossbred mutton, Canterbury light GJd. and North Island light nt s?d'. The demand for mutton is poor nnd the market is weak. For New Zealand frozen beef the demand is less and the market quiet. The market for frozen pork is weaker owing to cheap supplies from Argentine. The South American Republic is a great competitor in frozen meat nnd supplies .from that qtiartei, particularly of chilled beef, dominate Smithfield. , . , , * The tallow market is also wMker. At the auctions on Wednesday 1853 casks were offered and about 246 casks sold. The proportion of sales to offerings shows the state of the market, nnd a drop of Is. per cwt. failed to stimulate the demand.

MELBOURNE PRODUCE MARKET Me’bourne, November 19. The wheat market is quiet. Nominally nrices are: Old wheat, spot, sellers. 6s. pet Cusliel; new, prompt delivery, about ss. Bd.: January, about ss. 6d. . Flour: £l5 10s. per ton: cash. £l5 ss. Oats: Milling. 2s. lid. to 3s. per bushel, feed. 2s. 7d. to 2s. Bd. . Barley: English. 4s. 3d. per bushel. Potatoes: £l4 to £l5 per ton. Onions: £8 per ton, ex bags.

CHICAGO WHEAT QUOTATIONS Chicago, November 18. Wheat quotations: December, 1 dollar 351 cents per bushel; May. 5 dollar 395 cents; July, 1 dollar 33 tents.

RABBITSKIN SALES. London, November 18. At the rabbitskins sales. 3300 were offered. and there was fairly general competition. Furriers' sorts were 10 per cent, above September rates, while medium hatters were at late rates to 5 per cent, decline. Lower grade showed a o to 10 per cent, advance. Germans competed strongly for the best furriers.

P. AND O. SHARES. London, November 18. P and O. shares are quoted to-day at £252.

CUSTOMS REVENUE. The Customs revenue collected at the port of IVellington yesterday totalled £6278.

The mid-Canterbury executive of the Farmers’ Union has appointed a, deputation to wait on the Acting-Premier and urge a further embargo on wheat and flour imports. The executive protested against the woolbrokers’ charge of Is. per bale for interlotting.—Press Assn.

Particulars are advertised of a clearing sale to be held in the Alfredton salevards on November 26 by the New Zealand Loan and Mercantile Agency Company, under instructions from Mr. W. J. Percy.

Buyers. Sellers. N.Z. GOVT. LOANS— £ s. d. £ s. d. 4J p.c. Ins. >Stk„ 1939 90 10 0 •ft p.e. ditto, 1938 .... 9G 10 0 —— 5i p.c. ditto, 1933 .... 1 100 10 0 100 15 0 5>i p.c. ditto, 1936 . ...1 00 10 0 —— 4} p.c. Bonds, 1939 .. 96 12 6 — 41 p.c. ditto, 1938 .... 96 12 6 — 41 p.c. ditto, 1930 .... —— 98 0 0 5» p.c. ditto, 1933 .... 100 10 0 —- DEBENTURES— Well. Racing Club ..10G 0 0 x'.Z. Breweries (bonds) —— 15 6 BANKS— ■ 14 5 0 National of N.Z 7 10 New South Wales ... —• 45 0 0 New Zealand —• 3 10 Ditto (rights) OGG 0 6 9 U..ion of Australia .. 15 5 6 15 7 0 FINANCIAL— N.Z. Guarantee Corp. (ord., 8s.) — 0 10 9 Wellington Investment » 10 6 — Wellington Deposit .. —— 0 10 4 Wright, Stephenson - ■ 14 6 Ditto (pref.) — 0 17 6 GAS— Auckland (paid) .... 13 6 1 3 10 ■ , 5 0 0 INSURANCE— National (cum.) •— 4 0 0 No'" Zealand 1 19 6 T rn 2 17 6 MEAT PRESERVING— 3 0 6 N.Z. Refrigerating (10s.) 0 6 9 0 7 1 TRANSPORT— Huddart-Parker (ord.) —— 2 7 9 p. and O. def. stock 250 0 0 Keib &' Karorl Tram. 1 G 11 WOOLLENWellington (ord. and pref.) 6 10 0 COAL— Westport — 1 1G 6

TIMBER— Tarlngamutu >••••••« 1 8 0 BREWERIES— 0 19 0 1 1 «i Manning and Co 1 1 6 New Zealand .2 12 3 —— Staples and Co 1 17 1 1 IS 3 2 2 6 MISCELLANEOUS— Burns, Philp, and Co. —— 1 19 8 Electrolytic Zinc (ord.) 1 1G 0 1 17 0 Ditto (pref.), —- 1 17 f) Howard Smith — 1 13 0 1 9 Sharland & Co. (ord.) —- 1 2 9 Smith & Smith (pref.) —— 0 19 0 Wairarapa Farmers’ (£5) Ditto (£1) — 4 0 16 0 Ditto (pref.) —— 0 16 11 Wilson's Cement (cum.) 1 11 6 — MINING— Waihi Grand Junction —-■ 0 8 Kawarau 0 2 9 ——