FARM & COMMERCIAL

Dominion, Volume 21, Issue 111, 8 February 1928, Page 12

FARM & COMMERCIAL

NEWS AND NOTES

AUCTION SALES TO-DAY. 11 Brandon Street 2.30 p.m.—Sale of 5roomed liou.o with 1 acre land. Lower Hutt (11. E. Leighton). 21 Grey Street, 11 a.m.—Sale ot 5-ioomed bungalow, Lower Hutt (S. G. Nathan and Co.). 21 Grey Street, 11 a.m.—Sale of 5-roomed bungalow, Koug'itui (S. G. Nathan and Co.). 53 Majonbanks Street, 1 p.m.—Sale of household furniture, etc. (E. Johnston and Co.). Johnsonville, 12.30 p.m. —Fat stock sale (Waikanao Sale). Waikanao sale. 8 Willeston Street, 1.30 p.m.—Salo of ladies’ apparel, etc. (E. Johnston and Co.). • Miro Load, Wallaceville, 1.30 p.m.—Sale of household furniture (E. Johnston and Co.). 8 Willeston- Street, noon. —Sale of freehold property, corner Tory Street and Charlton Avenue (E. Johnston and Co.). Lismore Station Yards, near Wanganui, noon. —Makirikiri sheep fair (Dalgety and Co.). Otaki sale _ Martinborough ewe fair, 12.30 p.m. (Dalgety and Co.). Marton Park, noon.—Pain fair (Abraham and Williams-, Ltd.). Te Aro House, Cuba Street. 10.30 a.m. — Sale of stock-in-trade of men’s wear (E. Johnston and Co.). FRIDAY. Kimbolton Road, Feilding. 2.30 p.m.— Sale of land, on account Supreme Court (N.Z. F.D. Co.. Ltd.). 171 Cuba Street. 10.30 a.m.—Sale of buildinc materal, etc. (C. AV. Price and Co.). 8 Willeston Street. 1 p.m.—Salo of carpets, office furniture, etc. (E, Johnston and Co.).

FARMING INTERESTS WHEY BUTTER POOL FINAL PAYMENT The -secretary of the New Zealand Dairy Produce . Board announces that a final payment of Jd. tier lb. will be distributed to-day on all whey butter shipped in the pool. This will bring the total payments for the season 192(127 to the following figures :—First grade, Is. 27-16 d.; second grade, Is. 1 7-16(1. Both per lb. F. 0.8., equivalent to approximately:—lsos. for first grade per cwt. on London market; llfls. for first grade per cwt. on J ondon market. Final account sales of creamery butter and cheese pools are not yet to hand, but it is expected the final payments will be made about the end of the month.

PRODUCE MARKETS AUCKLAND Dominion Special Service. Auckland. February 7. The Auckland district has not yet had any steady general rain, although there have been some fairly heavy showers in isolated districts and in parts of the Waikato rain lasted for several hours. Even when the general downpour takes place, it will mean some time before the pastures recover from the elfects of the dry spell. Meanwhile dairymen have to hand-feed their stock, which haa caused a big demand for both bran aud sharps. Strange to say. there is not much demand for hay at the present time. Supplies of locally-grown potatoes are getting short, and already shipments have been made from the south for tins ifiarket. which is much earlier than usual. The quantity shipped, however, was small. The position with regard to supplils of potatoes is becoming acute, and it is now evident that the local crop will not be sufficient to fill requirements of this market until the new season's in the South Island are ready for shipment in any quantities. Already as high as £5 per ton f.o.b. s.i.. has been paid in Christchurch for potatoes for shipment in April. For March delivery £4 ss. per ton has been paid on trucks. Quantities of locally grown onions have been bought th ! s week for shipment to the United States. Merchants, however, found it difficult to secure enough supplies to fill orders in hand. In consequence of this demand for export Pukckoho growers of onions advanced the price considerably, and as high as £9 ner ton was paid by local merchants for onions on trucks at Pukekohe. The local market for maize remains very firm, and there is no alteration in prices. The quantity of maize coming forward from the coast is not sufficient to meet the requirements of this market. The market for wheat is reported to be little weaker, as southern quotations have been reduced for prompt as well as forward delivers’. Prices for chaff show no change this week. Old season's oats are now practically done. Garton oats are lower. A phenomenal demand is reported for bran, and merchants find it difficult to fill orders. The trouble at the present time is that neither bran or pollard can be imported from Australia, as higher prices are ruling there. With such a dry season It would naturally be. expected there would be a good demand for chuff, hut that has not proved to be the case so far. At the present time hay is difficult to sell, but later farmers will probably have to pay higher prices to secure supplies for the winter months. . _ , Wholesale current prices are:—Local sharps, mill price £8 ss. per ton; bran, £6 15s. per ton; oat pollard. £8 10s. per ton; New Zealand oats, seed B Gartons 4s. 5d.. A’s 4s. Bd. per bushel; wheat, Australian. 95.; maize, ex store, 6s. 9d. to 75., ex wharf 6s. to 6s. 3d. per bushel; barley, feed ss. 9d. per bushel. Cape seed 7e. 6d. per bushel; maizemeal, 15s. 6d. per 1001 b.; barley meal, 13s. per ICOlb.: chaff. Blenheim good bright oaten sheaf. £9 10b. ner ton ex store, Canterbury £9 10s.; potatoes, table, new. £l4 to £l5 per ton, ex store: onions. 12s. 6d. to 13s. 6d. per ewt.

CANTERBURY Dominion Special Service. Christchurch, February 7. Inquiries that have been made during the last few days suggest that a. little of the speculation that has been going on in oats lias been with the prospert of export further abroad than Australia. A Gartons have been sold at 3s. 7d. and 3s. Bd., f.0.b., s.i., and B’s at 3s. 3d. to 3s. 3id. for any old oats that are about. New season’s Gartons have been sold at 3s. Id. to 3s. 2d. on trucks, and Algerians at 3s. _ .. A few parcels of wheat have been sold at 5«. 7d. on trucks, but these, for the moat part, concern distant railages. There is a fair amount of offering by farmers, but most of them decline to sell below ss. Bd. or ss. 9d. Quite a pronounced demand has developed since the New Year for bran and pollard. Prior to then it was something of a drug, and millers were faced with the prospect of having to reduce prices to quit stock However, due no doubt to the unlikelihood of Australian supplies ccrning over, the demand has set in from all parts of the. North Island. There is no change in millers’ prices w The onion sarket has advanced durum the past week, and to-day £5 10s. to £5 15s. on trucks is readily available for April-June and £6 for March. The local trade is acquiring onions in small quantities at more than the latter figure. The appearance of rain yesterday tended to frlow the marlet potatoes, but as the rain has gone off ‘in smoke the previous firmness has been re-established. March delivery is quoted at £4 ss. on trucks. .£3 15s. for April, and £3 10s. for later months. , i . r There is no change in the maijjftt for peas, seeds, and clovers. DAIRY PRODUCE Amalgamated Dairies. Ltd., have received the following market cablegram from their London manager, under date Feb ruarv 4:—Butter: Unchanced; firsts. 1625.; unsalted. 1705.: Danish. 178 s f-o-b.; 178 s. 180 s. snot. Retails unchanged. Deliveries New Zealand. 1850 tons; stock. 2100; total stocks all butters publie stores, Fehruarj’ 1, 6300 tons. Cheese: White and coloured 925. to 935.: Canadian, 98s. to 1045.; market firm. Retail unchanged. Stocks United Kingdom February 1. New Zealand 51.000 crates. Canadian 77.300 boxes, compared with 12,750 crates and 77,800 boxes last year.

PRESERVATIVE IN BUTTER

EFFECTS OF PROHIBITION IN ENGLAND HARVEST FOR CONTINENT London, February G. Commenting on preservatives in butter, the newspaper “The Grocer” says: “The effects of the prohibition of preservatives will not be felt in the colonies till next season owing to the large quantities sold by the factories at the beginning of the season on c.i.f. terms, but purchasers are suffering enormous losses, especially upon the best “Kangaroo" butters from factories which formerly turned out the best quality. “England has to rely on imported butter, and naturally desires to give preference Io the products of her own colonies. These rapidly deteriorate after being removed from cold storage. The deterioration is only preventable by the use of preservative, so we shall evidently have to rely more and more on Continental countries, who will reap a glorious harvest at the colonies’ expense." PRIME DOWN LAMBS FINE LINE AT WAINGAWA. Dominion Special Service. Masterton, February 7. Some special lines of down lambs have been going into the Waingawa works, and it is reported that competition for these has been exceptionally keen throughout the Wairarapa. Ono line of 1500 lambs, which went into the Waingawa works on January IG, were practically all down Jambs, and secured for their owner 30s. per head. There is no question (it is said( that, the down cross lamb is establishing the reputation of the North Island lambs on at least a par with the best prime Canterbury. Throughout the Wairarapa an increasing number of farmers aro every year using the down ram, and there seems little doubt that careful attention to breeding in this direction will result in firmly establishing down cross lambs in the premier position on the London market.

STOCK SALES TAUMARUNUI EWE FAIR. BV TELEGRAPH.-PRESS ASSOCIATION Taumarunui, February 7. The annual ewe fair to-day attracted the usual large entry. The sale was most satisfactorv, there being an allround rise of between 3s. and 4s. on last cep.rft fair. One line of two-tooths last year’s fair. One line of two-tooths made 28s.

COMMERCIAL ITEMS WELLINGTON STOCK EXCHANGE YESTERDAY’S BUSINESS AND PRICES At the morning call yesterday a sale of Huddart-Parkcr (ordinary) shares at £2 10s. Gd. was reported, and at the afternoon call a sale of Dalgety and Co.’s at £l3 IGs. was reported. Government securities were in good demand, the 4* per cents, at £97, the 51 per cents, at £O9, and the 5$ per cents, at £lOl. New Zealand Breweries (stocks and bonds) were firm at 225. Gd. Hank shares were in good demand. Bank ot Australasia at £l4 12s. Gd., Commercial Bank (rights) at 75., National Bank of New Zealand at £G ISs. Gd.,' Bank of New Zealand at 58s. 9d„ Bank of New Zealand “D” shares (15s. paid) at 215., Union Bank (new issue) at £l4 10s„ and National Bank of Australasia (£lO paid) at £l7 14s. Gd., and £5 paid at £8 16s. Goldsbrough Mort shares were steady at 475. 9d., and New Zealand Guarantee Corporation (preference) at 21s. New Zealand Insurance were in demand at 415., and South British Insurance at 575. 3d. Wellington Meat Export were firm nt 9s. Huddart-Parker were wanted at 51s. 3d., and Union Steam (preference) at 20s. Westport Coal were steady at 31s. Gd. There were buyers of Kauri Timber at 21s. (id., Tui Brewery at 405., C. M. Banks (ordinary) at 225., British Tobacco at 395. Gd., Colonial Sugar at £55 55., Electrolytic Zinc (ordinary) at 31s. 3d., preference at 335. 3d., Farmers’ Fertiliser at 80s., Paper Mills nt 10s., Taranaki Oil nt 9s. Cd., Wellington Queen’s Theatre at 20s. Gd., and Wilson’s Cement at 375. Gd. Yesterday’s buying and selling quota-

SALES IN OTHER CENTRES By TELEGBkPn.— Press association.

Auckland, February 7. Sales: Borough of Mt. Eden, Debentures (19(11) 5% per cent., £191: Commercial Bink of Australia (rights), 75.; Bank of Ke - South Wales. £47 15(1.: Bank o£ New Zealand, 595.; South British Insurance 17s (Id : Northern Stenin, 14s. 9(1.: 1 • ■'*/” O Deferred. £242: Taranaki Oil, 10s.; oilincmuri, 75.; Wailii, 10s. 10d. „ Christchurch, February 7. Sales: Commercial Bank of Australia (THffhtH) 7s 4(1.; N.Z. Insurance (cum. dh.) FMid" ' GoldKlirougli Mort 48s (3 pels.), aiu Id ■ British Tobacco, 395. 9d. 4 Sales reported: Union Bank of Australia, Eli Ils. (2 pels.).

FROZEN MEAT TRADE

On the recently-reported conclusion ol peace between the contending chilled beef exporters from the River Plate, it was alleged that the new agreement would increase the price of meat in Britain. This point was inquired into by the National Food Council, and was later denied. It would hardly seem that similar denials could be given as to the effect on meat prices in Britain from any considerable diversion of chilled beef consignments from North American ports. The British markets have held up fairly well in price against greatly increased imports of South American chilled beef, ft is almost incredible to think that 850,000 more chilled quarters have found their way into Britain from the River Plate last vear than in 1926. The effect of the Argentine meat war on the English and Dutch meat companies is strikingly reflected in their accounts. A movement is said to be on foot for the reconstruction, or, at least, modification. of the character of the British Incorporated Society of Meat Importers. It has been mentioned that the wholesalers of West Smithfield have made an incursion into the ranks of this old organisation, formerly known as the Frozen Meat Trade Association, and have secured tbo tabling of amendments to the rules generally to have the effect of giving the association a 50-50 control by Importers and wholesalers—in other words, sellers and buyers. It is said that the proposed change in the constitution of the incorporated society with the accompanying alteration of title will soon be an accomplished fact. The elimination of the word “British” from the title of the society will once more admit foreign operators in the great market. This, it is claimed, is a desirable thine for an association which purports to be generally representative of the entire trade.

The grading and stamping of beef by •he Division of Market. Department of Agriculture, of the United States of America, has been conducted for some time, and has recently been extended and is causing a good deal of interest. Its grading service began some years ago. and was at first for the benefit of several government organisations, notably the United States Shinning Board and the Veterans’ Bureau. Originally the service consisted mainly in determining the grade at the point of delivery, with a reference to contract specifications. This service was made use of by a number of dealers and consumers, catering to a trade wanting choice beef and particular about obtaining uniform quality, The service is now on a commercial basis, and is a great success. It is performed only for dealers or large consumers who voluntarily reouest it. Steamship comnanies. railroads, hotels, restaurants, and institutions, ora especially interested. They buy in large quantities, want uniform high quality, and want to be able to order by grade without previous inspection.

PRICES OF METALS. (Rec. February 7. 10.15 p.m.) London, February 6. Copper. —Standard, on spot, £62 ss. 7Jd. per ton: forward, £6l 15s. 7Jd : electrolytic. £66 10s. and £66 155.; wile bars. J 066 15s. Lead. £2l Is. 3d. and £2t 12s. 6d. Spelter. £25 17s. 6d. in both positions. Tin, £242 13s. 9d. -<nd £233 13s. 9d. Silver.—Standard, 26 1-16(1.; fine, 28Jd. per ounce. ENGLISH WHEAT MARKETS, A.P.A. and "Sun.” (Rec. February 7, 9 p.m.) London, February 6. Wheat.—Cargoes are dull and prices have dropped further. Australians are obtainable at a decline of 9d. per quarter. Parcels are 3d. to 9d. down. Liverpool futures are quiter: March, 9s. 9Jd. per cental; May, 9s. HJd.; July, 10s. Old. CUSTOMS REVENUE. The Customs revenue collected at the port of Wellington yesterday totalled £5646.

tions were as under.— Buyers. Sellers. N.Z. GOVT. LOANS— £ s. d. £ s. d. 4J p.c. Ins. Stk., 1939 41 p.c. ditto, 1938 ... 51 p.c. ditto, 1936 ... 97 0 0 —— 97 0 0 97 5 0 1(11 0 0 101 7 6 5f p.e. ditto, 1941 ... 99 0 0 5} p.c. ditto, 1932 ... os 12 () — 41 P.e. Bonds, 1939 .. 97 0 0 —— 41 p.c. ditto, 1938 ... 97 0 0 97 5 0 51 p.c. ditto, 1936 ... DEBENTURES— 101 0 0 — N.Z. Breweries (stock) 1 o 6 ■■ ■ Ditto (bonds) BANKS— 1 6 1 2 9 Australasia Commercial of Aust. 14 12 6 — ■ 1 7 6 Ditto (rights) 0 7 0 0 7 6 National of N.Z 6 18 6 —— National of Australasia (£10) 17 14 6 —— Ditto (£5) 8 16 0 — New Zealand 2 18 9 2 19 0 Ditto “D” shares (15s. 1 1 0 —— Union of Aust, (new, 14 10 0 14 15 0 FINANCIAL— Goldsbrough Mort .. 2 7 9 — — Equitable Building .. N.Z. Guarantee Corp. — 9 0 0 (ord., 8s.) ■ 1 1 0 9 0 Ditto (pref.) INSURANCE— 1 1 0 — New Zealand 2 1 0 •mo South British MEAT PRESERVING17 3 — - 1 17 6 Well. Meat Export 0 9 0 ■ TRANSPORT— Union Steam (pref.).. 1 0 0 mm Hud dart-Parker (ord.) COAL— 11 3 1 12 1 11 6 3 Westport-Stockton (ord.) 0 1 2 —— Ditto (pref.) TIMBER— —. 0 3 6 1 1 6 ■ • breweriesStaples and Co — 2 1 11 0 0 miscellaneous— C. M. Banks (ord.) .. British Tobacco (Aust 1 ). 0 — 1 19 6 2 0 0 Colonial Sugar 0 — Electrolytic Zinc (ord.) i 11 3 —— Ditto (prof.) N.Z Farmers’ Feri 12 3 1 13 0 4 0 n — ■ — N.Z. Paper Mills .... 0 16 0 0 17 0 Slmrlnnd & Co. (ord.) 1 0 9 Tarnnnki Oil Fields . 0 9 G Well. Oueen’s Theatre 1 0 G Wilson’s Cement ... MINING— 1 17 G Mount Lyell 1 9 0 0 11 3 0 o 0