FARM & COMMERCIAL

Dominion, Volume 20, Issue 64, 9 December 1926, Page 12

FARM & COMMERCIAL

NEWS AND NOTES

AUCTION SALES TO-DAY. Saleyards, Dannevirke, 10.30 a.m.—Salo of land (H.B. Farmer-:’ Co.-op.). Upper Hutt—Stock sale. Oddfellows’ Hall. I‘etone, 7.30 p.m.-— Sale of sections. Lowry Bay (D. Croft and Co.). TO-MORROW-Feilding, 11.30 a.m.—Stock sale. 123 Manners Street, 2 p.m.—Sale of cash register, scales, household furniture, Mitchell car, etc. (C. Dickinson and Co.). 8 Willeston Street. 10 a.in.—Sale of curios (E. Johnston and Co.). Corner Wakefield and Farish Streets, 1.30 p.m.—Sale of timber (E. Johnston and Co.). SATURDAY. Chapel Street, Masterton, 11 a.m.—Sale of land (N.Z. L. and ALA.). 78-80 Lambton Quay, 4 p.m.—Sale ot sections, Khandallah (Kingsway, Ltd.) Featherston Street, 1.45 p.m.—Sale of furniture and residence situate Penrose Street, Lower Hutt (H. E. Leighton). In the report by the New Zealand Loan and Mercantile Company of Monday’s Wellington wool sale it was stated that the prices secured for Mr. J. Batchelar’s (Linton) crossbred offerings were lljd. to 12|d, This should have been 12|d. to 14|d.

farminchnterests LONDON WOOL SALES FAIR COMPETITION AT LATE RATES. London, December 7. At the wool sales there was a good average selection, with fair competition at. late rates. For the New Zealand lot "Fairplaced," the top price was 22d., and the average 21d. FAT LAMBS FOR EXPORT PRICE BELOW LAST SEASON’S. Dominion Special. Auckland, December 8. Exporters who have now begun the season’s buying of fat lambs for the London market are basing their offers on 7Jd. per lb. over-all on hooks. This is about id. per lb. less than was offered a year ago. The lambs aie coming forward in excellent condition. BURNSIDE STOCK SALEr SHEEP AND LAMBS DEARER, FAT CATTLE AND PIGS CHEAPER. By Telegraph.—Press association. Dunedin, December 8. At Burnside to-day sheep and lambs were dearer, while heavy fat cattle and fat pigs were cheaper. Sheep.—A penning of 338 of fair average io good quality. All were shorn, except for about 200. Due to outside buying and the small entry, the market showed a better tone. Prices had improved a few shillings til! a goodly proportion of the fast race had been sold, when they eased a little, but, finally all classes were about 2s. better than they were last week. Prices; Extra heavy wethers 325. to 355. 3d., prime 28s. 6d. to 315., light 245. 6d. to 275. 6d.; woolly wethers, to 38s. 6(1.; woolly lives, to 30s. Lambs. —A penning of 300 well-grown cross and down crosses. A cood opening demand, and rates firmed under steady competition by Is. 6d. per head, hardening another is. later. Prices: Heavy prime 335. 9d. to 345. 3d., medium weight 28s. to 30s. 6(1.. light 255. to 275. Fat Cattle.—A yarding of 301. The average quality was good, and the entrv included some extra well finished consignments- of bullocks, with a fair sprinkling of unfinished steers anti average cows. The opening demand was slow. Medium weight prime bullocks were firm nt last week’s rates, but heavy classes of cattle eased about 15s. Prices: Heavy bullocks £l4 10s. to £l5 17s. 6d., medium weight £l2 ss. to £l3 155.. light £8 15s. to £11: heifers. £6 to £8 155.; medium cows £5 12s. 6d. to £B. extra heavy cows ro £ll 7s. 6d. Store Cattle.—About 240 were yarded. The entry was" chiefly made up of fair to average cows, though there were a few pens of medium steers. The demand was fair. A pen of good two and a half to three-year-old steers made £8 ss. per head, a pen of fair two-year-olds £6 7s. 6d.. and a pen of .medium two-year-olds £5 ss. A pen of IJ-year-old heifers brought £3 per head. Killable cows were unchanged. - Pigs.—A penning of 109 fats and nine stores. At the start of the fat pig sale prices were up. but they dropped considerably towards the end of the sale. Heavy baconers realised to £5 125.. medium £4 ICs. to £5. extra heavy porkers to £4 55., medium from £3 ss. to £3 155.. lighter sorts from £2 10s. Store prices were maintained. DAIRY PRODUCE MARKET Messrs. Dalgety and Co., T.td., report having received the following cablegram from their London house, under date December 7:— Dairy produce market firm. No new season’s New Zealand available. Control Board minimum prices advanced to-day. Butter —New Zealand finest, 1705.; first grade, 168 s. Cheese.—New Zealand finest. 965.: first grade, 955. JOHNSONVILLE STOCK SALE Messrs. Abraham and Williams, Ltd., and Wright, Stephenson and Co., Ltd., report on their Johnsonville sale held yesterday, as follows:—We submitted a large yarding of sheep and an average yarding of bullocks, to the usual attendance of butchers. The sheep offered were in excess of requirements, consequently prices showed a decline on last week’s sale. Prices for wethers were about export parity, ewes meeting with a better sale. The quality of the bullocks offered was good, prices being slightly easier. A heavy yarding of lambs was submitted. A good clearance was effected at a reduced level of value#. Quotations- Bullocks. £ll ICs.. £l2 7s. 6d., £l2 55., • £l3 2s. 6d.» £l3 155., £l4. £l4 2s. 6d., £l4 55.. to £l4 10s.: vealers, 275.; wethdrs. 21s. 6d.. 225. 6d., 235. to 245. 9d.; ewes, 16s. 9d., 17s. 2d. to 17s. 9d.: maiden ewes, to 245. 9d.; lambs. 175., 18s. 9d., 195., 21s. 9d., 225., to 235. 6d.

A FORTUNATE DISTRICT GREATLY INCREASED BUTTER PAY-OUT. BY Telegraph.-press association Dargaville, December 8. The production and pay-out cf the Northern Wairoa Co-operative Butter Co., Ltd., from the factory at Mangawhare show a remarkable increase all round. The amount of butter manufactured from June 1 to December 31 was 712 tons, an increase of 132 tons, or 22J per cent. The pay-out from Juno 1 to October 31 was £47,211 10s. 7d., an increase of £4229 4s. <kl. The pay-out in October, 192 G, was .£23,359 6s. 2d., as against 4122,421 3s. 2d. for the same month of 1925. From September 1 to December 1, 1926, 26,130 boxes of butter were graded. The amount graded finest was 26,194 boxes, for which a bonus was received of £2954. In Noveintier, 11,100 boxes of butter were graded, of which 11,054 were graded finest. The average grade for November was 93.289. The returns for December are not available, but the indications are that they will show some increase on the previous months. The company now has just ever 700 suppliers, about the same number as last year and. if anything, fewer cows are being milked. The increase in production is put down to systematic culling, better farming conditions, top-dressing, and a phenomenal season, which is said to bo the best ever experienced in the district. LONDON TALLOW SALES Messrs Dalgety and Co., Ltd., report having received from their London house the following cablegram, under date December 7:—Tallow: At to-morrow’s sales we expect prices will decline at least Is. per cwt. ADDINGTON STOCK MARKET DROP IN FAT CATTLE PRICES. BY Telegraph.—Press association. Christchurch, December 8. The fat sheep forward at the Addington metropolitan market were sufficient to fill about ten races, yet ever the first half of the sale the prices were better than those of last week. The fat lambs yarded were more numerous than buyers required. Fat cattle prices fell appreciably, and many pens were passed. The store sheep entered Vere not numerous and the prices realised were on the whole satisfactory to ven-, dors. Store Sheep.—A small <ntry. Generally the quality was only moderate. Most of the ewes and lambs were of inferior class, with most of the ewes in the wool. The demand for ewes and lambs was better than last week and some good sales were made. Tn some cases prices were Is. per head better than last week. Values were: Sound-mouthed balfbred ewes and lambs, 225. 6d. (all counted); aged halfbred ewes with lambi;, 15s. 7d. to 18s. 7d.; two-toothed crossbred ewes, 295. 7d. to 325.; four and six-toothed crossbred ewes, 28s. Id.; four, six and eight-toothed halfbred woolly wethers, 315.; four, six, and eight-toothed three-quarterbred woolly wethers, 295. Bd.; four and six-toothed halfbred wethers, 225. Id to 225. lOd. Fat Lambs.—The entry 'totalled 930 as compared with 670 last week. Generally the quality was good. The light sorts were not in demand, but good handy weight lambs sold well at prices on a par with late rates and in some cases better. Freezing works buyers operated with reserve and the bulk of the.purchases were made by butchers. Values were: Extra prime ‘lambs, to 30s. 10d. ; prime lamb, 275. 6d. to 295. 6d. : med Vim lambs, 245. 6d. to 275.; light lambs, 20s. to 235. 6d.

Fat Sheep.—Good quality sheep were plentiful and some of heavy wethers were outstanding, a fow lines of this class coming forward from South Cantrbury. Some of the wethers were on the light side, being little bettor than forward stores. When the sale commenced there was very brisk buying over the first two races and the prices were from Is., to Is. 6d. a head above those of last week, but values steadied •wn and when half the sheep had been 'isnosed of values were little better than was the case on the previous Wednesday. Values were: extra prime wethers. 335. lOd. prime wethers, 28s. to 31s. 9d.; medium wethers, 265. 6d. to 275. 9d.; light wethers, 235. to 265.; extra prime ewes, to 28s. 7d.; prime ewes, 235. Gd. to 265.; medium ewes, 20s. 61. to 225. 9d.: light and unfinished ewes, 17s. to 20s. Fat Cattle. —Tho market was one of the worst for many months, despite the fact that the standard of quality was one of the best for some weeks past. The heavy yardings that have been the rule lately have left butchers with fair supplies on band, and the hot weather made big bodies unpopular. Tho yarding totalled 545 head, as compared with 610 last week and 557 a fortnight ago. When the sale comm meed it was evident that big cattle would be unpopular, and this was borne out b<* the fact that they depreciated in price 1 >y fully .£1 a head, and there was a much smaller fall than this on good medium quality animals. Both heifers and cows of the better grades sold moderately well, hut there

was a greater proportion of the yarding unsold at the close of the auction than has been the case in the past couple of months. Prime mediumweight beef sold at from 325. 6d. to , 365. 6d.; heavy prime, 295. to 315.; best I heifer, 31s. to 3Js. Gd.; best cow, 28s. • to 305.; and inferior, 245. io 265.; extra heavy steers, to £l5 2s. 6d.; prime heavy steers, £l3 to £l4; prime medium-weight steers, £l2 ss. to 4:14 10s.; medium quality steers, £9 10s. to £ll 10s.; light steers, £7 10s. to £9; extra prime heifers, to £l3 7s. Gd.; prime heifers, £8 to £11; medium heifers, £6 10s. Io £7 155.; light heifers. £5 ss. to £6 55.; extra heavy cows, to £l3 12s. lid.; prime cows, £8 15s. to £lO 10s.; medium cows, £6 10s. to £8; light cows, £1 to £6. Store Cattle.—A large entry and competition was active. Values were: Three and four-year-old steers, .£8 10s, to £9 55.; two-year-old steers, £6 55.; yearling steers, £4 10s.; heifers, £2 ss. to £3 10s.; good cows, to £5; medium cows, £3 to £4; inferior cows, 30s. to £2 10s.; bulls, £3 ss. to £8 7s. 6d. Dairy Cattle.—There was a very small entry, only 44 head coming forward. The cattie were in far better condition, and showed better milking qualities than lor some time past. Prices showed a fair improvement on late rates. Values were: Best second, third and fourth calvers, £8 10s. io £ll 10s.; medium sorts, £6 10s. to £8; inferior sorts, £3 to £5 10s.; heifers, £5 to £9; aged cows and cows in profit, 50s. to £4 ss. Fat Pigs. —Choppers, £2 10s. to £4 10s.; light baconers, £3 10s. to £3 17s. 6d.; heavy baconers, £4 to £4 10s.; extra heavy baconers, to £5 (average price per lb. 6ld. to 7{d.); porkers, £2 Bs. to £2 145.; heavy porkers, £2 18s. t.o £3 4s. (average price per lb. 73d. to B£d.). Store Pigs.—Weaners, 15s. to 205.; best sorts, to 25a.; small stores, 265. to 285.; medium stores, 30s. to 285.; large stores, to 555. COMMERCIAL ITEMS WELLINGTON STOCK EXCHANGE YESTERDAY’S BUSINESS AND PRICES , At the morning call yesterday a sale of Western Australia Bank shares at 545. 9d. was reported, and at the afternoon a sale of 4J per cent bonds at £96 17s. fid. was reported. There was a moderate demand foi* Government stocks and bonds with buyers of the 4J per cents, at £96 155., the 5 per cents, at £99, and the 5J per cents, at £lOO 15s. Bank shares were steady but the demand was small. There were bids of £7 Is. 6d. for National Bank shares, £44 12s. 6d. for Bank of New South Wales exdividend, 595. for Bank of New Zealand, and 6s. 7d. for Bank of New Zealand rights. For Union Bank shares sellers quoted £l5 ss. 6d. N.Z. Guarantee Corporation shares were in demand the ordmarv at 10s. 4d., and the preference at 20s. *6d. Auckland Gas shares were wanted at 235. 3d. There were buyers of Huddart Parker ordinary at 465. 6d.,' preference at 20s. 9d., N.Z. Shipping preference at £9 and Union Steam preference at 20s. 3d. cum dividend. Breweries shares were active with buyers of N.Z. Breweries at 525. 3d., Staples and Co. at 375. 3d., and Ward and Co. at 425. 6d. There was good inquiry for British Tobacco ordinary shares at 505., and preference at 20s. 9d. Burns, Philp and Co.’s shares were wanted at 395., N.Z. Milk Products at 225„ and Wellington Queen’s Theatre at 20s. Yesterday’s buying and selling quotations were as under: Buyers. Sellers

SALES IN OTHER CENTRES By Telegraph.—pre-is association. Auckland, December 8. Sales.—War Loan (1938) 41 per cent., £97; Commercial Bank of Australia, 325.; Northern Steam (contrib.), 6s. 6d.; Milne and Chovce debenture stock, 24 s. 3(1.; Sanford, Ltd.. 245. ; Taranaki Oil. 245.; Moanataiari, ss. Bd., 6s. 2d.; ditto (contrib.). ss. 2d.. ss. 4d., ss. sd„ 5s 6d.. ss. 7d„ ss. Bd.. ss. 9d., ss. lOiL. 5s 10d, ss. 9d.. ss. 9d„ ss. lid.; New Waiotahi (contrib.), Is. 4d.: Ohinemuri, ss. 7d Dunedin, December 8. Sales.—Westport Coal, 355. 3d.; Express Co. (ord.), 21s. DALGETY AND CO., LTD. It is annoupced that in accordance with a resolution passed by the board of directors .of Dalgety and Co., Ltd., on September 30 last, all ordinary shares in the company registered in the names of residents in Australia and New Zealand may, on and from January 1, 1927, and subject to the approval of the directors in each case, be transferred from the London register of the company to its appropriate Australasia register and vice versa. This may be done provided the total number of ordinary shares on all the Australasian registers at any one time shall not exceed 75,000. 'Applications for transfer are to be made on forms supplied by the company. BANK OF NEW SOUTH WALES Net profits earned by the Bank of New South Wales for the year ended September 30 last amounted to £1,099,559, and this is tho first time in its history that net profits have exceeded a million sterling in any one year. In the preceding year the profits were £979,382, and in 1922 they were £698,123. The undivided balance brought forward is £130,755. so that tho amount available for distribution was £1,230,314. Interim dividends at the rate of 10 per cent, per annum for quarters ended December 31, 1925, March 31, 1926, and June 30, 1926, were paid out of the year’s profits, and the dividend for the final quarters to September 30 was also at the rate of 10 per cent., in addition the shareholders received a bonus of 10s. per share, absorbing £150,000. Ihe sum of £350,000 has been added to the reserve fund and <£130,315 carried forward. Last year £250,000 was added to the reserve, which now stands at £4,750.000. The deposits amount to £58,587,508, as compared with £57,070,095 a year ago, and £50,559,271 in 1922. Advances at £48,017,148, contrasts with £42,676,111, an increase of £5,341,008. This has arisen from the lequirements of the grazing and farming constituents of the bank having been larger than usual. Increased business generally was also a factor, but the proceeds of the clip and crop, and from sugar and other products, are expected soon to substantially reduce the item. The capital of the bank stands at £6,000,000. Shareholders’ funds amount to £11,180,315 against £10,830,755; bills payable stand at £8,719,031 against £9,093,185; cash items amount to £14,517,769 against £17,794,298; bills receivable in London and remittances in transit £5,206,675 against £6,363,803. The balance-sheet total is £79,078,890 against £77,529,056 a year ago. CUSTOMS REVENUE. The Customs revenue collected at- the j port of Wellington yesterday totalled ! £9308.

N.Z. GOVT. LOANS— £ s. d. £ s. d. 41 n.c, Ins. Stk., 3938 96 12 6 96 17 6 54 n.c. ditto. 1033 .... 100 15 0 51 p.c. ditto, 1936 .... : 00 15 0 —• 43 n.c. Bonds. 193S .. 96 15 0 — 53 p.c. ditto, 1033 .... 100 15 0 — 5 p.c. P.O. Bonds, 1927 99 0 0 DEBENTURES— N.Z. Breweries (stock and bonds) —— 1 5 0 Petone/Lower Hutt, 5» p.c., 1927/1952 —- 95 10 0 Pahiatua Borough, 5 p.c., 1935 — 95 10 0 Makerua Drainage ... — 101 0 0 BANKS— National of N.Z. ..... 7 1 6 7 6 New South Wales .... -14 12 6 — New Zealand 2 1!) 0 2 19 6 Ditto (rights) 0 0 7 —— Union of Australia .. —— 15 5 6 FINANCIAL— N.Z. Guarantee Corp. (ord., Ss.) 0 10 4 —— Ditto (pref.) 1 0 6 — N.Z. and River Plate.. —— 1 4 6 Wellington Deposit .. — 0 10 4 GAS— Auckland (paid) 1 3 3 ——. Wellington (ord.) .... — 1 6 9 MEAT PRESERVING— N.Z. Refrigerating (10s.) — 0 7 0_

transport— Huddart-Parker (ord.) 6 ft Ditto (pref.) 1 0 9 N.Z. Shipping n 0 0 Union Steam (pref.).. i 0 3 — WOOLLEN— 15 Kaiapoi (pref.) —- 0 6 Wellington (new issue) —• 6 10 0 COAL— Westport 1. 16 0 Waipa — 0 15 6 TIMBER— I.cvland-O’Brlen .... — 0 Tariuganiutu —•- 1 6 0 National — 0 16 0 breweries— Manning and Co —— 1 1 0 New Zealand o 12 3 •— 3 Staples and Co 1 17 3 1 18 Ward and Co — (J MISCELLANEOUS— British Tobacco (Aust.) (ord.) 10 0 —— Ditto (pref.) 1 0 Burns. Philp, and Co. 1 19 0 — fl ■ Howard Smith — 1 12 N Z. Milk Products (bonds) 1 2 0 -— Scoullar Co — 1 9 Sharland and Co. (ord.) 1 6 Smith & Smith (pref.) Wairarapa Farmers’ (£5) —- 0 19 0 — 4 (1 0 Ditto (£1) —— 0 1G 0 Ditto (pref.) — 0 16 0 Wellington Queen’s Theatre (cutn.) .... 1 0 0 MINING— 3 Kawarau 0 —