FARM & COMMERCIAL

Dominion, Volume 20, Issue 56, 30 November 1926, Page 12

FARM & COMMERCIAL

NEWS AND NOTES

AUCTION SALES TO-DAY. Corner . Wakefield and Parish Streets, 1.30 p.m.—Sale of building material (E Johnston and Co., 98 Manners Street, 1.30 p.m.—Sale of furniture. (It, Wilson). Levin—Stock sale. 7 Webb Street, 10.30 a.m.—Sale of confectioner's stock (R. Wilson and Co.). TO-MORROW. 79 Boulcott Street 1.30 p.m.—Sale of household furniture (R. Wilson and Co.). District Lands Office, Wellington, 2.30 p.tn.—Sale of farm property (Commissioner Crown Lands) The Earm, Ohau, 12.30 p.m.-Cleanng sale (Abraham and Williams). Dominion Farmers’ Institute.—Sale of land (Horace Baker and Co.) Brandon Street, 2 p.m.—Sale of forfeited shares Eclipse Gold Claims (J. H. Bethune). , Johnsonville, 12.30 p.m.-Stock .sale (Abraham and Williams and Wright, Stephenson). THURSDAY. Ward Street, Dannevirke, 3 p.m.—Sale of land (Williams and Kettle). , Johnsonville, 12.50 p.p.—Wether fair (Abraham and Williams). 8 Willeston Street. 10.30 a.m.-Sale of wireless stock (E. Johnston and Co.). 8 Willeston Street, 10.30 of antiques (E. Johnston and Co.). Waikanae—Stock eale.

FARMING INTERESTS MEAT BOARD METHOD OF ELECTION. Replying to a remit from the recent conference of the Farmers’ Union, That the present system of election of the Meat Board be abandoned and a system be adopted by which . the Dominion would be divided into six districts, each of which should have representation on the board, every registered sheep owner to bo given a personal vote collected through the post/’ the Minister of Agriculture (Hon. O. J. Hawken) has stated that so far as he is aware the present system of election has given general satisfaction, and the Government does not feel that it would bo justified in altering it unless it is clearly established that an alteration is desired by the majority of producers.

LONDON RABBITSKIN’ SALES

Messrs. Dalgety and Co.. Ltd., report having received a cablegram from their head office on the November rabbitskin sales (the prices realised at the September sales are given in parentheses)—Full winters, thin pelts, prime, 112 d. to laid. (110 d. full winters, thin pelts, slightly spotty. 102 d. to 106<L (100 d. full winters, medium and stout pelts, -ot quoted (125d.> • fair season and incoming, 85d. to 98d. (fed. to 96d.); late winters, 80d. to 95d. (80d. to 95d.); outgoing and spring, 64d. to 65d. (56d. to 65dJ; early autumns, 64d. to SBd. (55d. to 61d.); late autumns, 68d. (75d. to 77d.1; autumn racks. 45d. to 48d. (43d. to 46d.1; light racks, 43d. to 47d. (42d. to 45d.); mixed racks, 34d. to 37d. (35d. to 45d.); milky, fair to good, 50d. to 53d. (not quoted); milky, medium and poor, 30d. to 43d. (fed. to 42d.); inferior and damaged, fair to good, 62d. to 72d. <ssd. to 64d.); inferior and damaged, medium to poor, 28d. to 58d. (29d. to 45d.); kittens and suckers, 21d. to 23d. (19d, to 21d.); black and silver grey, 71d. to llOd. (not quoted); fawn. 66d. to 150 d. (not quoted); 3350 bales offered, 1820 bales sold. Furriers, good demand from Continent, hatters' irregular; thin pelted furriers, 5 per cent, to 10 per cent, higher; stout, neglected; early winters, unchanged; New Zealand incoming autumn, mostly withdrawn; good hatters, par to 5 per cent, lower; clean, light racks, and small, 10 per cent, higher; milk does. 5 per cent, higher; greasy racks, par to rather dearer.

LONDON MARKETS HIGH COMMISSIONER’S CABLED REPORT IMPROVED DEMAND FOR BUTTER The Department of Agriculture lias received the following cablegram, dated November 27, from the High Commis-sioner-for New Zealand, London:— Butter. Improved demand and market firmer. Official quotations are:— New Zealand.—Finest salted: November 27, 1465., to 151 s. per cwt. (Is. 31d. to Is. 4}d. per lb.): November 20, 138 s. to 150 s. per cwt. (Is. 23d. to Is. 4d. per lb.). Other qualities: November 27, 1335. to 1445. per cwt. (Is. 2d. to Is. 3}d. per lb.). New Zealand Control Board official minimum prices are: Finest, 158 s. per cwt. (Is. 43d. per lb.); first grade, 1565. per cwt. (Is. 41d. per lb.). Australian. —Salted: November 27, 1445. to 150 s. per cwt. (Is. 3}d. to Is. 4d. per lb.); November 20, 138 s. to 1465. per cwt. (Is, 2’d. to Is. 3jd. per lb.). Unsalted: November 27, 1565. to 160 s. per cwt. (Is. 4Jd. to Is. sd. per lb.); November 20, 1545. to 160 s. per cwt. (Is. 4id. to Is. sd. per lb.). Other qualities: November 2:7, 124 s to 1425. per cwt. ,Is. ijd. to Is. 3d. per lb.). Siberian.—November 27. 1325. to 1365. per cwt. (Is. 2d. to Is. 2Jd. per lb.); November ;!0, 128 s. to 1345. per cwt. (Is. Id, to Is. 2{d. per lb.). Argentiue.Lusaited: November 27, 138 s. to 1445. per cwt. (Is. 23d. to Is. 3,d. per lb.); November 20, 1335. to 1425. per cwt. Is. 2-Jd. to-Is. 3a. per lb.). Other qualities: November 27, 120 s. to 1365. per cwt. (Is. 6Jd. to Is. per lb.). Danish.—l7os. to 1725. per cwt. (Is. 6Jd. to Is. 6jd. per lb.); November 20, 170 s. per cwt. (Is. 6Jd. per lb.). Cheese.

Colonial market quiet. Official quotations are:—English, finest farmers’; November 27, 102 s. to 108 s. per cwt. (103 d. to 114*1- pbr November 20, 102 s. to 108 s. per cwt. (103 d. to lljd. per lb.). Demand is good for finest. Canadian.—Coloured and white.—November 27, 86s. to 88s. per cwt. ffijd. per lb.); November 20, 85s. to 88s. per cwt. (9d. to 91d. per lb.). ' New Zealand.—Coloured and white: November 27, 84s. to 85s. per cwt. (9d. to 9d. per lb.); November 20, 84s. to 85s. per cwt. ()d. to 9d. per lb.) Control Board minimum prices are: Finest, 85s. per cwt. (9<l. per lb.); first grade, 84s. per cwt. (9d. per lb.). Casein. Present quotations are: New Zealand rennet, 7666; French rennet, A.GI; English rennet, ±5B to £163. . . Tallow, Eggs and Peas. Tallow—No auction thia week. Mar. ket very quiet at last quotations. Eggs.—Slow demand. English, Dutch, Danish, 255. to 28s. per long 100; Belgian, 225. to 235. per long 100; Australian, 18s. to 19s. per long 100;. South African, 14s. to 17s. 6d. per long 100; Russian, 12s. 6d. to 16s. per long 100; Polish and Chinese, 10s. 6d. to 13s. 6a. per long 100. . , , Peas.—Business in new seasons Maple. Partidge commenced earlier than usual owing to small stocks of old peas on hand. It is estimated that over 2000 tons already sold of February-March shipments up to July next. Prices commencing at 755. reached 965., but 85s. since taken for March-April shipments. Tasmanian, February-March shipments quoted 90s. Demand is now easier, buyers having satisfied immediate requirements and awaiting results of Tasmanian and New Zealand harvests. Prices not expected to advance and may lower Blues market firm owing to partial failure of English and Dutch crops. Prospects are good for Dutch marrowfats, selling at ,<£3s per ton. Japanese have risen sharply, and Decembei-Janu-arv shipment snow quoted at «£33 t per ton. New Zealand demand is quiet in view of ;X)or boiling quality. To-day the value of February-March shipments is about d:2O.

Hemp and Wool. Hemp.—Manila market continues firm for near position. Forward shipment is caster, but close is steady. "J” grade November-January shipments quoted buyers ±47. Sisal market steady. Tanganyika No. 1 November-January shipments ±43 10s. value. New Zealand market steady and demand is but more buyers than sellers for fair. Nov-ember-January shipments Bold at ±35 10b. to ±36 55., and highpoints quoted at ±3B. Wool.—Sales proceeding satisfactorily with good Home trade, support of New; Zealand crossbred at prices fully equal to opening rates.

OTHER ADVICES. The Bank of New Zealand produce department, has received the following advice from its London office under date November 26— ... > Butter.—Owing to better demand new season’s arrivals practically all cleared. Controlled minimum prices, finest 158 s. per cwt., first grade 1565., stored butter 1465. to 118 s. , . Cheese.—Controlled minimum prices, finest 87s. per cwt., first grade 86s. Frozen Meat.—There is only a poor demand for wethers. There is a little better demand for > ewes. The market is weaker for heavy-weight lambs; light remain steady. Beef is in short supply, and prices are nominal. Wethers, light 51d. to 61d. per lb., heavy sd. to 5Jd.; ewes, 3jd. to 4}d.; lambs, 2 & Old. to 93d., B’s BJd. to BSd„ 4 s 7d. to 7{d., seconds SJd. to 85<1. DAIRY BQARD ADVICES. The New Zealand Dairy Produce Board advises having received tho following cablegram from the London office or the board, dated November 27 :- Butter.—New Zealand: New season, 1565., 1585.; old season 1465., 151 s. Market has shown considerable improvement since last Tuesday. Large quantities stored and new season s butter sold at advancing prices. Sales, 64,956 boxes. Stocks, 5345 boxes. . bext arrival, lonic, December 6. Kia Ora and Birautaka produce probably subject to survey owing to tires, and probably not fully available Christmas trade. Australian official quoted 14ts.» 1505.; now 1525., 1545. Argentine, 1385., 141 s. Dutch. 1705., 1725. Siberian. 1325., 1365. Danish, 1705., 1725. Retail ] rices unchanged Continental position unchanged. Cheese.—Market remained exceedingly quiet until Thursday, since when very active advanced prices, both coloured and white. Finest. 875.: first grade. BGs. Sales. 3647 erates. Stocks. 13.488 crates. Canadian, 865., 88s. spot; 81s, Gd. c.i.f. Retail prices unchanged.

CANADIAN BUTTER MARKET The Dairy Produce Board has received the following market prices from its agents in Canada, dated November 27 :— Butter.—New York, 52 cents (2s. 2d.), market firm; Montreal, 361 cents (Is. (iid.), factories closing; Vancouver, 35} cents (Is. sgd.); San Francisco, 45| cents '*Cheese.—Montreal, 17 cents (Bid.).

STOCK SALES Messrs. Dalgety and Co., Ltd.. Palmerston North, report:—At the Marton sale on November 22, there was a moderate entry of sheep and a email yarding of cattle. The whole of the yarding changed bands, and the price- are as below-:—Cull M.S. 2-tooths. 12s. 6d.: medium 2 and 4-tooth ewes, 18s. sd : fair 4 tooth wethers, 18s. M.: mixed hoggets, 20- Id.; store cows. 225. 6d. 355.. 37a. 6d.; light fat cows, £5; weaner pigs. Rs. to 21s.

CHRISTCHURCH WOOL SALE CREATING UNUSUAL INTEREST Dominion Special. Christchurch, November 29. In view of the improved eutloof as the result of the North Island wool sales, the opening of the South Island sales here on Wednesday is creating more than usual interest. The catalogue will comprise a superior class of wool, there being a particularly attractive and heavy showing of Corriedale and halfbred qualities, in which the northern centres have a small production As it is the finer wool that has been encaging most attention in England and is the class that New Zealand mills require, it is reasonable to suppose that competition on Wednesday will be animated. The clip is much better grown than last year, tender wool being less prominent. The hogget wool particularly is longer in the staple and in better condition. There is a big representation of buyers now in Christchurch goin" through the stores. The catalogue totals between 16,000 and 17,000 bales.

COMMERCIAL ITEMS WELLINGTON STOCK EXCHANGE YESTERDAY’S BUSINESS AND PRICES At the afternoon cal] yesterday sales of N.Z. Breweries 10 per cent, bonds at 255. and Bank of New Zealand shares at 60s. 3d. were made on 'Change, and a sale of per cent, stock at <£96 17s. 6d. was reported. There was a fair demand for Government stocks and bonds, with bids of £96 15s. for the 4$ pel cents, and <£loo 12s. 6d. for the 5} per cents. N.Z. Breweries 10 per cent, bonds wore steady at 245. lOd. Bank shares were firm, with buyers of National Bank at d£7, Bank of Now South Wales at .£45, cum. dividend, Bank of Now Zealand at AJ3, Bank of Now Zealand rights nt 6s. 6d., and Union Bank at £l5 4s. Investment shares were in good demand. Buyers offered .£9 2s. 6d. for Equitable Building, .£6 10s. for Wellington Trust and Loan, 10s. 7d. for Wellington Investment, £96 for Loan and Mercantile ordinary, 10s. sd. for N.Z. Guarantee Corporation ordinary, and 21s. for the preference shares. Gas shares were in stronger demand than usual, with buyers of Christchurch Gas at 245., Gisborne Gas at 10s. 6d., and 265. for Wellington Gas ordinary, and 16s. 4d. for preference. Shipping shares were also in better request. There were buyers of N.Z. Shipping preference at J 69, Union Steam prefeience at 20s. 4d., and P. and O. deferred stock at <£24o. There was a bid of 275. 6d. for Kelburn trams. There were bids of £6 10s. for Wellington Woollen shares) 345. 9d. for Westport Coal, and 395. for Leyland-O’Brien Timber. Brewery shares were steady, with buyers of Crown Brewery at 205., New Zealand Breweries at 51s. 10d., Staples and Co. at 365. 10d., and Ward and Co. at 425. 6d. Colonial Sugar shares were in demand at .£54, and Burns, Philp and Co. at 38s. 9d. Howard Smith shares were wanted at 325., Taranaki Oil at 9s. 6d., and Wairarapa Farmers’ preference at 15s. 3d. The Stock Exchange will be closed to-day for holiday. Yesterday’s buying and selling quotations were as under; —

THEATRICAL COMPANY’S OPERATIONS

The net profit earned by J. C. Williamson Ltd. for the year ended June 30 last, after providing for all outgoing, amounted to ±62,935, as compared with ±61,054 for the preceding year. The balance brought forward was ±33,023, out of which a dividend absorbing ±18,750 was paid, the balance of ±14,273 bein" transferred to reserve. Out of the net profit for the year dividends on preference and ordinary ehares were paid, the amounts thus absorbed being respectively £11.981 and £28,125. From the balance of ±22,828, the directors have declared a further dividend on the ordinary shares, amounting to ±9375, and the balance of ±13,453 is to be transferred to the reserve. The report states that the company’s business during the year was well maintained. lhe paid-up capital of the company is ±525,000- sundry creditors, ±3-5.538; sundry credit balances, ±53,403; and reserve account ±291,700. On the assets Bide the main item is scenery, properties wardrobe, freehold and leasehold properties, expenditure on pieces not yet produced, modes business, good will, etc., ±697,009. Other items are shares, etc., in other companies, ±396,515, sundry debtors and balances ±110,555, and war loan ±lO,OOO. The total of the balancesheet is ±1,218,471.

NORTH CANTERBURY FREEZING CO.

The North Canterbury Sheepfarmers’ Co-operative Freezing Export and Agency Co., Ltd., made a loss of ±lB7 9s Id. on the operations for the twelve months ended September 30. This compares favourably with the results of the previous year, when the losses totalleu c£20,515. That loss was covered by the amount brought forward, £2670, and the transfer of £17,845 from the general reserve. For the year under review the revenue from freezing, felling, etc., amounted to ±48,492, compared with ±33,455 in the previous year: discounts and transfer fees brought in ±35, against ±55, making a total of ±48,527, against ±33,510. The working expenses, maintenance and depreciation amounted to ±39,211, against ±39,317; salaries, office and general expenses to ±4822, against ±5771; interest, insurance, rent and advertising to ±4061, against £8295; and solicitors’, auditors’ and directors’ fees to ±620, against ±612, the total expenditure being ±48,714, against ±54,025, a reduction of ±5311, which shows the drastic nature of the economies effected. The paid-up capital of the company stands nt ±84,855, and calls paid in advance ±645. The reserves total ±20,000, the same as in the previous year; ±7500 is due to the Government on building loan, and sundry creditors and drafts against unrealised consignments at ±43,537, contrasts with £96,105 in the previous year. ■ The assets show land and buildings, ±93,256, against ±96,1801 plant and machinery, ±23,163, against ±24,645; and stocks, stores and sundry debtors, ±39,926, against ±88,275.

WELLINGTON STOCK EXCHANGE ELECTION OF OFFICERS At the annual meeting of the Wellington Stock Exchange last week the folio-wing officers were elected:—Chair, man, Mr. R. Wynn Kirkby, re-elected unopposed for the ninth successive year; vice-chairman, Mr. W. F. Sloman, also re-elected unopposed; committee, Messrs G. Thorne George and W. G. Morpeth, the retiring members, were re-elect J and Mr. A. F. Mac Shane was elected' u> fill the vacancy created by the death of the late Mr. C. E. Finch. The city members of the Exchange noir number 36, and the country members 39. On its total membership Wei lington has the largest roll of members of all the Stock Exchanges in New Zealand.

CUSTOMS REVENUE. The Customs revenue collected at the port of Wellington yesterday totalled £7478. WELLINGTON WINDER SHOW THE LIVE STOCK CLASSES. The live stock section of the Wellington Winter Show will extend for one week towards the end of July. In the fat cattle section all classes, are open to any breed or cross. The sections are: Under 2 years, under 30 months, and under 3 years of age, with ±lO, £5, and ±3 prizes in each class. The class for the champion beef animal is open only to animals under 3 years. The prize is ±lO and the association's challenge cup, to be held for one year. A miniature replica of this will also be given, and will remain the property of the winner.

In dairy cattle, Jerseys, Red Polls, Milking Shorthorns, Ayrshires, and Friesians are provided for, the classes being: Heifer, born since July 1, 1926; since July 1, 1925 (visibly in calf or iu milk); heifer or cow, born before July 1, 1925 (visibly in calf sr in milk); bi*U, born before July 1,192 G, butter-fat backing. The prizes are £3 and ±l. There will be milking trials for Jerseys, Red Polls, Milking Shorthorns, Ayrshires, Friesians; prizes ±l, ±2, £l. The fat pig section comprises 2 bacon pigs most suitable for the London market; 2 porkers not over 1251 b. 'ivo weight; 2 porkers not over 1051 b. live weight. There* is also a class for pony under 12.2 hands, to bo ridden by boy or girl under 16. In sheep and lambs there are classes suitable for freezing, sheep hot to exceed 1401 b., lambs not to exceed 1001 b.; also long-wool cross, Down ewes, Corriedales; 3 sheep, one shear; 3 wether lambs. Prizes ±3 and ±l. The champion pen of lambs from the above most suitable for freezing will secure a gold medal and ±5. Similar conditions attach to the champion pen of sheep. In fat sheep and lambs (any weight), there are classes fpi long-wool cross, Down cross, and Corriedales, with prizes of ±3 and £l. The champion pens of fat sheep and fat lambs carry a gold modal and ±5. Tn the sheep dog timls there will be a maiden class, witn prizes of ±B, ±4, and ±2; and an open class, pulling, driving, and yarding, with a prize of a gold medal and ±lO, also ±5 and £3. Arrangements will again bo made for a fat stock sale at the conalusion of the show.

N.Z. GOVT. LOANS— •14 p.c. Ins. Stk., 1939 44 p.c. ditto, 1938 .... 54 p.c. ditto, 1933 .... 54 p.c. ditto, 1936 .... 1 44 p.c. Bonds, 1939 and 'loss Buyers. £ s. d. Si £ 97 97 100 ‘Ilers, s. d. 96 15 too 10 0 0 6 2 0 15 6 0 0 96 12 44 n.c. <>io, 1930 .... 97 10 0 — 54 P.C. ditto. 1933 .... 100 12 6 •—* 44 p.c. ditto, 1940 .... —— 97 0 0 DEBENTURES— N.Z. Breweries (stock) •— 1 5 3 Ditto (bonds) 1 4 10 1 5 3 BANKS— Commercial of Aust. (ord.) 1 12 9 National of N.Z 7 0 0 —— New South Wales (cum.) 45 0 0 45 10 0 New Zealand 3 0 0 3 u 4 Ditto (rights) 0 6 6 0 G 8 Union of Australia .. 15 4 0 15 6 0 FINANCIAL— Abraham and Williams (ord.) — 4 4 0 Equitable Building .. 9 2 6 —— N.Z. Guarantee Corp. (ord., 8s.) 0 10 i) — Ditto (pref.) 1 1 0 —— N.Z. Loan and Merc. . (ord.) 96 0 0 97 0 0 Wellington Investment 0 10 7 0 11 0 Well. Trust, Loan .... 6 10 0 6 15 0 Wellington Deposit ... —> 0 10 4 Wright, Stephenson (ord.) Ditto (pref.) GASChristchurch 0 17 6 1 4 0 1 4 9 Gisborne U 10 6 —• Wellington (ord.) .... 1 6 0 1 7 0 Ditto (pref.) 0 16 •4 0 17 6 Ashburton 5 0 0 INSURANCE— National — 3 17 0 New Zealand 1 19 6 MEAT PRESERVING— Gear 1 17 6 N.Z. Refrigerating (£1) — 0 15 3 1 Ditto (10s.) — 0 7 transport— 9 N.Z. Shipping (pref.) 0 0 —— Union Steam (pref.).. 1 0 4 1 1 0 P and O. def. stock.. 240 0 0 250 0 0 Kelt), and Karorl Tram. (ord.) 1 7 6 — WOOLLEN— Wellington (ord.) .... 6 10 0 Ditto (new issue) .... — 6 10 0 CO A I/— Westport 1 14 9 — Walpa — 0 15 6 timber— LevIand-O’Bricn .... 1 19 0 0 Tnringamutu — 1 6 0 National — 9 BREWERIES— Crown 1 0 0 Manning and Co — 1 1 0 Now Zealand Staples and Co i 11 16 10 10 2 13 1 18 6 0 Ward and Co 0 -O 0 MISCELLANEOUS— Burns. P'dtn. and Co. 1 18 9 Colonial Sugar 54 0 0 Electrolytic Zinc (pref.) Farmers’ Co-op. Auct. —-• 1 17 G 3 (ord.) 10 0 — Howard Smith 1 12 0 1 12 6 Seoullar Co ... — 1 9 Sbnrlnnd and Co. (oru. and prof) — 1 2 G Taranaki Oil Fields .. 0 9 6 —- Wircaon Farmers’ (pref.) 0 15 3 0 16 3 Wellington Cordage .. — 0 17 G Wellington Queen’s Theatre 0 19 6 miningBlackwater Mines .... 0 8 —~ Mt. Lyell (cum.) .... 1 9 0 Kawarau 0 3 1 0 3 6