FARM & COMMERCIAL

Dominion, Volume 21, Issue 115, 13 February 1928, Page 12

FARM & COMMERCIAL

NEWS AND NOTES

AUCTION SALES TO-DAY. Lambton Quay, 2.30 p.m.—Sale of land, part section 609, with residence (Harcourt and Co.). Pahiatua Ewe Pair, 11.30 a.m. (XV.F. C.A., Ltd.). Pahautanui Sale, 1 p.m. 8, Willeston Street, 1.30 p.m.—Salo of household furniture, etc. (E. Johnston and Co). TO-MORROW. Raetihi, 1 p.m.—Ewe Fair (Freeman R. Jackson and Co., Ltd.). Levin Sale. 8, Willeston Street, 1.39 p.m. —Sale of ladies’ frocks, gowns, and hats (E. Johnston and Co.). ; WEDNESDAY. Farmers* Co.-op. Land Sales Room, Cashel Street, Christchurch, 2.30 p.m.—Sale of “Rydal Downs'* (Dalgety and Co. ami N.Z.F.C. D. Co.). Dominion Farmers' Institute, 11 a.m. — Sale of 9-roomed residence, Hataitai (S. G. Nathan and Co.). Dominion Farmers' Building, 7.30 p.m.— Sala of 122 building sections, Tawa Flat (Dunbar Sloane Ltd.). Plimmerton Ewe Fair .N.Z.L. and M.A. Co., Ltd.). Feilding Sale. Johnsonville, 12.30 p.m.—Fat stock sale. Te Aro House, Cuba Street 1 p.m.— Sale of carpets furniture, etc. E. Johnston and Co.). DAIRY PRODUCE The New Zealand Producers’ Co-operative Marketing Association’s weekly cabled market report from London dated February 10, is as follows:— Butter:— Market firm. New Zealand finest. 4645. to 1665.; first grade, 160 s. to 1645.; unsalted, 1665. to 1705.; Australian, 1545. to 1685.; Argentine, 148 s. to 1525.; Danish. 1845.: Siberian. 150 s. to 1525. Cheese:—Market nuiet but firm. New Zealand finest white and coloured, 925. to 935.; first grade. 90s. to 915.; Canadian white, 100 s. to 1045.; coloured, 98s. to 100 s.; Australian, 90s. Messrs. Joseph Nathan and Company. Limited, have received the following cablegram from their London house dated February 10:—New Zealand butter, 164 s per cwt., firm and active. New Zealand cheese. 925. per cwt., more doing. Amalgamated Dairies, Ltd., have received the following market cable irom their London manager, dated February 1): — Butter: firsts. 1045.; unsalted, 170 s. Market active. Danish: 1765. f o.b. .Cheese: white and coloured, 925., 935. Market quiet.

FARMING INTERESTS DUMPING DUTY ON BUTTER URGED BY FARMERS OF WESTERN CANADA By Telegraph.—Press Association. Copyrigh.. Regina, February 10. A resolution urging the application of a dumping duty on New Zealand and Australian butter was passed unanimously to-day by the Western Canada Dairy Conventiou. Air. J. A. Caulder, president of the National Dairy Council, reviewed the efforts of Canadian deputations at Ottawa, but the only result was that Australians ship on consignment, keep it for twenty-four hours, and then sell, thus evading the anti-dump-ing regulations. He claimed that butter prices were depressed on the coast and butter selling on the prairie at 37 cents fetched only 31 cents at Vancouver. He was sure the Government would cancel the treaty if enough pressure was exerted. Four hundred delegates voted on the question LIVE STOCK SALES WESTFIELD Messrs. Dalgcty and Company, Limited, reoort having held their weekly sale of fat stock at Westfield on February 8, as under:— Beef:—There was a large yarding of both ox and cow beef. The largest proportion consisted of second quality, all classes being inclined to bo somewhat easier, which was more noticeable in the unfinished cattle. Extra choice ox sold to 30s. per lOOlbs.; choice and prime, 275. to 295.; just killable, 235. to 265.; prime young cow and heifer beef, 245. to 265.; just killable, 21s. to 235. A lino of extra prime medium to heavy weight bullocks on account of Earle's Estate sold to 413 15s. and averaged £l3 3s. This was the only line that made over 30s. per 1001 b. Sheep:—There was an average yarding. Competition was dull, and very few prime wethers were yarded, with little or no change in wethers. Heavy prime wethers. 28s. 6d.; medium, 245. 6d. to 265.; light and unfinished. 225. to 245.; heavy prime ewes. 20s. to 225.; lighter, 17s. 6d. to 195.: other ewes. 13s. 6d. to 15s. 6d. Lambs:—An average yarding. Fat lambs were on a par with last week, but store lambs were again easier. Heavy crime lambs shorn made 275. 6d.; medium. 235. 6d. to 255. 6d.; light, 20s. to 225. 6d. j Calves:—There was a good yarding, many well finished lines being yarded. Values were inclined to ease. Runners made £4 135.; heavy vealers, £3 10s. to 44; medium, £2 15s. to £3 Bs.; light, £2 to £2 125.; rough, 18s. to £1 Is.; fresh dropped, 3s. to £1 2s. Pigs:—A fair yarding sold under good competition, prices improving considerably on last week’s rates. Choppers made £2 125.; extra heavy baconers, £3 35.; medium baconers, £2 10s. to £2 175.; light baconers. £2 4s. to £2 Bs.; heavy porkers, £2 to £2 35.; medium porkers, £1 15s. to £2; light porkers, £1 12s. to £1 15s. MARTINBOROUGH EWE FAIR. Messrs. Dalgety aud Co., Ltd., Masterton, report as follows: The annual ewe fair was held at Martiuborough ou Thursday, when a very full yarding of ewes was submitted to a large attendance. As usual at this fixture there was a good entry of outstanding sheep, and considering the dry spell which prevails at present, all Hues realised satisfactory prices. The bulk of the better class twotooth ewes were purchased for the Manawata district, while the older sheep were taken by local fanners'. Following are the principal sales effected :—Account Robert McLeod, four-year ewes 255. Oil., twotooth ewes 30s. 3d.; account M. .McLeod, four-year ewes 255., four and five-year ditto 235., two-tooth ewes 325.; account J. McLeod, four-year ewes 245. od., fiveyear ewes 215., two-tooth ewes, ditto, 305.; account C. M. Ross, four and sixtooth ewes 295., two-tooth ditto 265.; account D. 11. Riddiford, five-year ewes 205.; account A. Robinson, four-tooth to fiveyear ewes 235., five-year ewes 19s. Id., s.m. ewes 15s. Od.; account C. K. McLaren, four-year ewes 2us. 3d., two-tooth ditto 225. 9d.; account F. Deller, five-year ewes 17s. Id.; two-tooth ditto 28s. 3d.; account D. XV. Ross, four-year ewes 225. Gtl.; account XV. XVagg, five-year ewes 155.; account G. XV. Gilbert, two-tooth ewes 245. Id.; account M. P. Chapman, fiveyear ewes 16s. Cd.; account P. Broderick, five-year ewes 16s. 3d., two-tooth ewes 245. 9(1.; account F. P. Ward, two-tooth ewes 255. to 265. 6d.; account XV. Tilson, shearling Southdown rams, 12igns. to 12j|gns, Messrs. Wright, Stephenson, and Co., Ltd., report: In conjunction with the Associated Auctioneers, wo held our annual ewe fair at Martinborough. As is usual with this sale, the yarding was chiefly comprised of well-bred breeding ewes, which attracted a large and representative attendance. A full yarding came forward; tn fact, the yards were taxed to their utmost capacity to hold all the sheep offered. Our yarding numbered 2000 ewes of various and with the exception of one pen of aged ewes we made a total clearance. Throughout prices were quite good, the betterclass ewes especially making good money, although medium ewes were neglected somewhat and were hard to quit. Buyers were operating from the West Coast and bought several of the best lines. We made a clearance as follows:—Account W. J. Martin, four-year ewes, 235.; account IL Spooner, five-year ewes 265. 5(1.; account XV. R. Martin, five-year ewes 19s. Id.; account G. W. B. Hardy. four and flve-year ewes 165.; m.a. ewes 14s. 6d. to 18s. 3d.; cull aged ewes 12s. 3d. -to 14s. Gfl.; cull two-tooth ewes 18s. 6d. to 2(>.

The Wairarapa Farmers’ Co-operative Association. Limited, report as follows ou Friday’s Carterton sale:—We offered a small yarding of cattle and piers to a fair attendance of buyers. Pigs sold slichtlv in advance of last week’s prices, cattle selling at late rates. Quotations: Fat heifers. ffi4 17s. 6(1.; fat cows, £4. £3 10s.; forward cows, £3 25., £2 165.. £2 175.: store cowb, 395.: porkers, 255.; weaners. Us.; slips, 12s. 6d.: fowls, 2s. Id. to 2s. 7d.: one hack. £4 2s 6d: saddle, £3 Is. Messrs. Dalgety and Company, Limited, report having a large yarding of sheep and a fair yarding of cattle at Otaki saleyards on February 9. There was a large attendance and although bidding dragged throughout the sale, no doubt due to the continued dry weather, a satisfactory clearance was effected at late rates:—B.F. lambs. 13s. 7d.: Romney ewe lambs. 155.; Romney wether lambs, 125.; cull iambs. ss. 4d. to 7s. 7(1.: 2-tootli ewes, 255. 3d.: 4 and 5-year ewes. 16s. to 17a. 3d.; forward 4 and 6-tooth wethers. 255.; forward cows. .£3 ss. to £3 10s.; forward heifers. £4 10s.; bulls, £3. Messrs Dalgcty & Co.. Ltd., report having a good entry of sheen and a small ’’ng of cattle at their Feilding Salo on Friday. Considering tho dry weather, Ibero was :i good demand for all classes of sheep and practically all lines changed hands. Quotations: —Fat ewes, 17s. 3d. to ISs.; fnt wethers, 225. 6d. to 205.: w.f. wether lambs. 13s. to 14s. 6(1.; small w.f. wether lambs. Cs. 6d. to 10s.; shorn b f. lambs, moduim, 11s. to 12s. 6(1.: shorn b.f. ratio lambs. 17s. to 17s. 4(1.: medium woolly b.f. lambs. 15s. 4(1. to 15s Bd.: woollv b.f. rape lambs. 20s. ;4 and 5 year owes. 19s to "Os. ’Od.: aged ewes. 6s. 9(1. to Ils.; forward ■wos. 14s 10(1.: 2-tooth ewos, "Os. 4(1.: 2-tooth wethers. 19s. 4d. to 225. Sd.: 2 and I tooth b.f.’s. 23s 2<l : springing heifers. ' £6 10s.; springing cows. £6 10s io ”7 10s.: cows in milk, £5 10s.; forward cows. £3 2s. 6d.. £3 7s. 6(1.: fnt cows. £5 10s. to £8; fat heifers, £8; fat bnl--'■s. £lO 2s.

Messrs Abraham & Williams. Limited, report on tho Feilding Salo on Friday, as 'ollows:—A very heavy yarding of sheen -ame forward, mostly lambs. Despite tho continued d"” w<rtfhm-. tlm market was ••ticnl.irly keen and we sold tho whole o! ho onrv iindor the hammer. Gftod rape I'imbs :'iml also medium lambs wore in 1-00(1 demand. Good 4 and 5-yoar brood-' ’»g ewes also sold freely. A small yarding f onttle sold nt late rates.

We quote:—fat lambs. 245.; fat owes. 17s. Cui ; rape lambs, good, 15s. to 17s. <><!.: medium lambs. 11s. Id. to I ls. 9d.: small lambs. Os. Od. to 9s. 2d.: 4 and 5-yoar ewes. 17s. 7d.; 2-toolh to 5-year owes. 10s. 4d.: 2-tooth ewes, 2ts. Od. to 305.: cull ewes. ss. to (is. 3d.: fat bullocks, £lO 4s ; fat cows. £5. £5 17s. Rd.: store cows, £2 17s. Od to £3 125.: weaner heifers, to £2: ■bulls. £3, £5 ss. to £0; springing heifers. £5 ss. to £6 12s. fld.; cows in milk, to £4 5«.

FROZEN MEAT LONDON QUOTATIONS. (Rec. February 12, 5.5 p.m.) London, February 11. The latest quotations for frozen meat are as follow:— Sheep. Canterbury, light GJd., heavy sjd. North Island, light 7(1., medium 61(1.. Lambs. Canterbury, light 101 d„ medium heavy lOfd., seconds 9(d. Other selecteds, light IOJd., medium 10 North Island firsts, light 9Jd., medium 9?d.; seconds 9Jd. Victorian, firsts 81d.. seconds i-Jd. Australian thirds, 61(1. Argentine firsts, light 7Jd., medium Bd.; seconds Old. Frozen Beef. Argentine hinds, 5Jd. Other meats are unchanged. SMITHFIELD QUOTATIONS. The New Zealand Meat Producers Board has received the following cablegram from its London office, dated February 10, advising Smithfield delivered prices at that date as follows (prices for the two previous weeks are also shown):— New Zealand wethers and maidens: Canterbury quality. selected brands (old season). 561 b. and under. 6jd. per lb. (6id. and 6Jd.); ditto. 57-641 b„ 6d. per lb. (6il. and 6dJ; ditto, 65-72. sjd. per lb. 51d. and 51(1.): other brands (new season), 561 b. and under. 76. Per lb. (6Jd. and 63d.); ditto, 57-641 b., 6£d. per lb. (6d. and 6Jd.); ditto, 65-72. 5Jd. per lb. (sid. and 53d.). New Zealand ewes: 641 b. and under, not nuoted. „ , New Zealand lambs. Canterbury quality (new season), 361 b. and under, 101 d„ not quoted; ditto, 37-421 b., 10?,d.. not quoted; ditto. 43-501 b.. 101 d.. not quoted. Selected brands (new season), 361 b. and under, 103 d. (103 d. and lOJd.): ditto. 37-421 b., ICgd. (lOgd. and fOJd.). Other brands, first quality (new season). 361 b. and under, 9,1 d. per lb. (93d. and 10d.); ditto, 37-4211)., 93d per lb. (lOd. and lOd.); second quality, 30-321 b. average, 9&d. per lb. (91d. and lamb: Victorian, first quality 3611). and under, 81d. per lb (9d. and 9d.)’: ditto, 37-421 b., not quoted. 96. Argentine lambs; first quality. 361 b. and under. 7|d. per lb. (7id. and 7Jd.): uitto. 37-421 b.. Bd. per lb. f7Jd. and 7Jd.l. New Zealand beef. Ox fores. 33d. per lb. (33d. and 33d.); ox hinds. sd. per lb. (sd. and 5d.); cow fores. 31d. per lb. (3Jd. and 31d.); cow hinds, 4d. per lb. (4d. and 4d.). Argentine chilled beef: Ox fores, 4Jd. per lb. (416. and 33d.); ox hinds, 63d. per lb. (63d. and 61(1.). Argentine frozen beef: Ox fores. 33d. per lb. (33d. and 33d.); ox hinds, 51d. per lb. (53d. and 53,(1.). Frozen pork: Porkers, 60-8011)., 71d. per lb. (7Jd. and 7Jd.); ditto, 81-9911)., 63d. per lb. (7d. and 7d.): ditto. 100-12011)., 63d per lb. (63d. and 63d.); baconers, 1214801 b., 6J(I. per 11). (636. and 6Jd.). Frozen veal: Not quoted. Lambs: Market Is easier. Mutton market: Wethers; there Is a good demand for light-weights. bales slow for heavy-weights. Frozen pork: 804201 b... mark* t quiet owinpr to heavier supplies Home 1214801 b.. market is easier owing to weaker bacon market. Messrs. Levin and Company, Limited, have received the following cablegram from their Loudon agents, dated rebruary 10:—Frozen meat quotations (prices on a 'delivered'’ basis, i.e.. including storage charges, cartage tolls, eto.):Down' lamb. 28-421 h. IOJd. per lb.: best North Island. 28-4218.. 10d.; ordinary North Island, 28-4218., 93d.; recond quality lamb 91(1.: best North Island wethers, 48-6411).. 61(1.; ditto. 64-7211).. sgd.: ordinary North Island wethers. 48-6411:. 6?,d.; North Island ewes, 40-6411).. none offering; ditto. 64-7211).. none offerim?: New Zealand Prime ox beef. 160-22ffib.. 43d. per lb. , As compared with previous week s quotations. down and ordinary North Island lamb are ?,(l. per lb. lower. Second quality lamb. I<l. per lb. ’ower. Best and ordinary North Island wethers are Jd. per lb. higher. The demand for lamb >s limited, and the market is dull, with a weakening tendency. The market for mutton is unchanged. The Loan and Mercantile Agency Coninanv. Limited, have received the iollowing cablegram from their I.ondon liou=e. under date February 10:-New ZerJ-i <1 frozen meat: Lamb, lOd. per lb. Mnttoa: Wether and maiden ewe. light. 6id. net lb.: ditto, heavy. 5Jd. per lb.: ewe. light, 51d. per 11).: ewe, heavy, sd. per lb. Markets quiet. DANNEVIRKE SHOW WEIGHT GUESSING COMPETITIONS. Following are the results of the weightguessing competitions at the Danncvirke District! A. & P. Association Show:— Single Sheep (correct weight IMlbs.l— Mrs. Annie Holden, R. Gregg, and D. Fergus divide first, second and third prizes, having each guessed the correct weight. Fat Bullock (correct weight 652 1 /.lbs.) — 11. J. Newling, 6521,6. 1; W. Jenks, 653, 2; .1 C. Kennedy, 651, 3. Five Sheep (correct weight 4121h5.)— Individual weights. 1 wether, 1031b5.; 1 ewe, 84 lbs.; 1 ewe, 861 lbs.: 1 ewe, 7714 lbs.; 1 ewe. 67 lbs)— 11. A. Speedy, 411% lbs., 1: .T. Gildea, 412% lbs., 2; W. Aitchlson, 413 lbs., 3. COMMERCIAL ITEMS WELLINGTON STOCK EXCHANGE LAST WEEK’S BUSINESS AND PRICES Very fair business was done last week : in stocks and shares, and as usual bank shares received most attention. Commercial Bank (ordinary) shares changed hands at 275. 4i<l., 275. 4d„ 275. 5d., and ‘'7s 4d.; Commercial Bank (rights) at 75., 7s. 4d., and 7s. 2d.; National Bank of New Zealand at £7; Bank of Australasia at £l4 145.; Bank of New South Wales at £47 155.; Bank of Adelaide at £9 us.; National Bank of Australasia (£lO paid) at £7 17s. 6d., and £5 paid at £8 17s. 3d Union Bank shares were sold at £l4 14s and £l4 15s. Government stocks were rather slow, but business was done in the 4j per cents, at £97 aud 51 per cents, at £lOl 2s. 6d. Mount Eden Borough (debentures, 5i per cent.), maturing 1961, sold at £lOl. Moderate business was done in financial shares, ■with sales of Dalgety and Co at £l3 16s. and £l3 16s. 6d., and Goldsbrough Mort at 485., 48s. Id., and 48s. 3d. In gas shares business was eoufined to Auckland Gas at 235. 3(1., 225. 4d„ and 225. sd. Insurance shares were iu good demand, and fair business was done in them with South British at 575. 6d., 575. 9d. 575. 10d., aud 585.; New Zealand Insurance at 40s. 6d. and 40s. 9d., and National Insurance at 15s. 4d., 15s. 2d., and 15s. 6d. Business was done in New Zealand Refrigerating shares (£1 paid) at 17s. 3d. (cum. div.), and 10s. paid at Ss 3d. and Bs. (cum. div.). Shipping shares met with fair business, with sales of Huddart-Parker (ordinary) at 50s. 6d. and 51s. lid., Northern Steam at 14s. 9d. and 14s. lid., and P. O. deferred stock at £242. Woollen shares were much neglected, aud business was confined to Weellington Woollen (preference) at £6 6s. 6:1. Coal shares were iuactivee. Hikurangi Coal changed , hands at 45., and Westport-Stockton at 3s. 3d. Timber shares were very dull, and business was restricted to a sale of Kauri Timber at 21s. 3d. Brewery shares were fairly active Staples and Co. sold at 415., 41s Id., and 41s. 3d., New Zealand Breweries at 40s. 3d., Carlton Brewery nt 48s. 3d., and Tooth’s Brewery at 465. 3d. In the miscellaneous section business was done in British Tobacco at 395. 9(1., 395. lid 395. 10d., and 30s. 8(1. Colonial Sugar at £56, Electrolytic Zinc (ordinary) at. 31s. 6d., preference at 325. 6d., New Zealand Drug at 675„ Taranaki Oil at 10s., Thames Theatre at 18s., and Union Oil ’at 41s. , , , On Saturday the sales reported were National Bank of Australasia (£i> paid) at £8 195., aud New Zealand Insurance at 40s. Od. (ex-div.). Saturday’s buying and selling quota-

SALES IN OTHER CENTRES BY Telegraph —Press association Dunedin, February 12. Sales reported: Bank of New Zealand, 595.-. Mosgiel Woollen, £6 15s. Christchurch, February 12 Sales: Commercial Bank of Australia, 275. sd. (two parcels); Commercial Bank of Australia "rights,” 7s. 2d.; Westport Coal. 31s. 7d.. 31s. 6d.; British Tobacco, .We an Sales reported: Commercial Bank of Australia. 275. 6d.; Commercial Bank of Australia "rights.” 7s. 2d. (two parcels): New Zealand Insurance, 40s. 6d.; P. and O. Deferred Stock. £240. Auckland, February 12. Sales: New Zealand Insurance, 40s. 6d.; Auckland Gas con.. 16s. 4d.:- Mosgiel Woollen £6 155.: Wilson's Cement, 385.; •Waihi. 10s. , THE PRODUCE MARKETS The Bradford top market is reported to be very firm, but spinners are not responding, apparently because they are unable to recover the price from tho manufacturers. However, it matters not to the raw material, which will continue to sell at a high price. At tlje meeting of the economic section of the Congress of the Australian Association for the Advancement of Science, held at Hobart recently, Iff. H. E. Teare, director of the Alexander Hamilton Institute, read a paper in which he advocated the establishment of a wool futures market for Australia. This is not regarded by wool interests in Australia as practicable. A leading merchant stated that a wool futures market was not feasible except in standard combed tops. Before the European war futures markets existed at liouba and Antwerp, and it was generally regarded by the woollen trades that dealing in futures there was almost entirely of a gambling nature with the chances against the dealer, whether he bought or sold, owing to the high overhead expenses necessarily incurred by the conductors of the "Marche a termc.” An endeavour was made to re-establish a futures market in Roubaix in 1922, but it’ practically received no support, and no record has been received by the trade of any further attempts being made to renew this class of business in Europe. The effect of the establishment of a futures market would be to introduce a number of outside gamblers into the wool market. This the trade is desirous of avoiding. In a futures market it would not be possible to conduct business in greasy wool and so far as New Zealand is concerned it has no export trade in tops that would warrant selling in futures.

The butter market is again firm, although it was easier early last week. The current quotation for New Zealand finest salted is'about 1625., while Danish stands at, 1795. The market should hold at about present prices, but if there is a shortage of shipments from New Zealand there may be a slight upward movement. The cheese market is steady at 925. 6d. per cwt. The prices of both butter and cheese are not satisfactory, and if the weather reduces shipments, the producers will be badly hit.' Frozen meat prices on the whole show a downward tendency, narticularly for lamb. Best quality lamb are about id. lower; ordinary lambs gd. lower and second quality lamb ?>d. lower. Ordinary wethers id. higher. Meat prices are by no means satisfactory. Best North Island lambs are selling at IOJd.; best wethers and maiden ewes at 6id., and ordinary wethers and maiden ewes at sin. CANNED FRUITS’ PRICES According to ' the Melbourne “Argus,” for 'three years distribution prices of canned fruits have been fixed at the beginning of each season by .an association of canners. This year, one of the largest manufacturing firms in the association resigned, aud it has now issued an independent price-list for canned fruits, which contains substantial reductions on the’prices prevailing last' season. No other canners have yet announced their prices, and many of the firms express doubt whether they will be able to operate at the price-level established by the independent firm, namely, Bs. 3d. ner dozen tins, or 2s. less than last year. The prices of jams made of the new season’s fruits have also been considerably reduced by one firm, but prices announced by rival companies, although lower than those of last year, are as much as Is. 6d. a dozen tins higher. The association has decided not to issue an official price-list this season. Members contend that prices announced will not leave a margin of profit for merchants distributing their goods, and it is suggested -that the independent firm is endeavouring to increase sales by offering goods to retail traders. In defence of the policy which it has adopted, the firm states it is able. to meet any competition. and that it is not no>v prepared to be bound in respect to prices by co-operative canneries which are receivinl) tho support of the Government. Condifions in the fruit market this set-son are said to be fairly satisfactory to all engaged in the industry, as crops of all classes of fruit have been heavy, and when the market is leheved of the surplus production by export overseas the quantities available, should not be large enough to depreciate prices. The action of the Federal Ministry m offering a bounty on the export cf.reaches should assist growers in clearing the surplus, as one of the conditions of the granting of the bounty is that a proportion of other fruits should j Iso be shipped. PRICES OF RA WMATERIALS. (Rec. February 12. 5.5 p.m.) London, February 11. Cotton— Liverpool onot-ition for Arnerican middling upland cotton, March delivery. 9.53 d. per lb. Rubber-Fine hard Para. 14d per lb.; plantation, first latex crenti and smoked ribbed sheet, 16JC. Jute— February-March shipment, <£ol) 12s. 6d. per ton. New Zealand hemp—February-April shipment. £34 10s. per ton. Copra— Rebruary-March shipment, £26 12s. 6d. ner ton. Linseed oil. £2B 10s. ner ton. Turpentine. 41s. 9d. ner swt. WHEAT AND OTHER PRODUCE. Melbourne, February 11. Wheat is quiet at ss. 31d., millers offering ss. Id. and ss. Hd. Flour is quoted at £l2 2s. 6d. and £l2 7s. 6(1.; bran. £6 155.; pollard. £7 10s. ; oats 4s. 3d. and 4s. 4(1.; barley, English malting. ss. 5d.; Cape, 4s. sd. and 4s. 6d.: feed. 4s. Potatoes, £3 10s. and £4. Onions. £lO and £lO 10s. r r (Rec. February 12. p.m.) New York, February 11. Chicago wheat futures:,March. 1 dollar 303 cents per bushel: May, 1 dollar 30J cents; July. 1 dollar 273 cents. LEAD MOVEMENTS. (Rec. February 12. p.m.) London, February 11. Lead imports, 18.485 tons; Australian, 6365; exports, 1475 tous. NORTH AUCKLAND FARMERS’ CO-OPERATIVE. A meeting of directors of the North Auckland Farmers’ Co-operative, Limited, was held on February 2, when the balance'licet and returns for the half-year to December 30 were dealt with. The figures revealed a substantial improvement in the •ff'urs of the company; and it that unless business is seriously affected bi- a eontinuanee of the dry weather conditions now prevailing, the halanie-slieet t lune 30 next, the end of the company s financial year, should disclose a batistactory position to the shareholders. CUSTOMS REVENUE. The Customs revenue collected at the port of Wellington on Saturday totalled £ 9308.

tions were as follow:— Buyers. Sellers. N.Z. GOVT. LOANS— £ s. d. £ s. d. 41 'p.c. Ins. Stk., 1939 97 0 0 — 44 p.c. ditto, 193S ... 97 0 0 — r>; p.e. ditto, 1933 ... — 101 2 (1 54 p.c. ditto, 1930 ... — 101 5 0 44 P.O. Bonds, 1939 .. 97 0 0 —— 44 p.c. ditto. 193S ... 97 0 0 •— debentures— Wellington Gas 99 10 0 N Z. Breweries (stock) 12 7 Ditto (bonds) 12 7 Ancle. Harbour Board (5J p.e.. 1939) — 99 0 0 Wanganui City (5i p.i 1945) 100 0 0 — Well. Hospital Board (54 p.c., 1933) — 100 0 0 BANKS— Commercial of Aust. 17 3 Ditto (rights) 0 7 0 — Australasia 14 14 0 National of Australasia (£5) 8 18 0 9 0 0 Vew Zealand ..•••••• 2 18 9 2 18 11 Union o£ Aust. 14 14 0

FINANCIAL— Goldsbrough Mort ... — 2 8 9 Equitable Building .. — 9 0 0 N.Z. Guarantee Corp. (ord., 8s.) 0 8 10 N.Z. Loan and Merc. 3 0 0 . Wellington Investment 0 11 0 Well. Trust, Loan .. G 13 6 GAS— Auckland (paid) .... 12 0 INSURANCE— 2 0 3 1 0 MEAT PRESERVING— 1 17 6 Well. Meat Export (ord.) 0 9 3 —— TRANSPORT— Huddart-Parker (ord.) —— 12 3 Union Steam (pref.).. 10 0 1 0 4 WOOLLEN— Wellington (ord.) ... — 6 4 0 COAL— Westport-Stockton (ord.) Oil — Ditto (pref.) — 0 3 G TIMBER— 110 0 12 6 BREWERIES— 1 13 0 — MISCELLANEOUS— C. M. Banks (ord.) .. 12 0 —- British Tobacco (Aust.), —...- o 0 0 Colonial Sugar 55 10 0 D.I.C. (pref.) 10 6 Electrolytic Zinc (pref.) 1 13 3 Newton King (pref.). 0 10 0 — N.Z. Farmers’ Fertillser 4 0 0 —— N.Z. Paper Mills .... — 0 17 0 Sharland & Co. (ord.) — 1 0 9 Whitconibe and Tombs 3 8 0 ■ Wilson’s Cement ... 1 17 G — Holden’s Motor Bodies —- 1 9 0 MINING— Wailii __ 0 10 6