FARM & COMMERCIAL

Dominion, Volume 21, Issue 116, 14 February 1928, Page 12

FARM & COMMERCIAL

NEWS AND NOTES

AUCTION SALES TO-DAY. Raetihi, 1 p.m.—-Ewu Fair (Freeunn R. Jackson and Co., Lid.). Levin Sale. 8, Willeston Street, 1.3 J p.m.—Sale of ladies' frocks, gowns, and hats (L. Johnston and Co.). TO-MORROW. Farmers’ Co.-op, Land Sales Hoorn, Cashel Street, Christchurch, 2.30 p.m.—Salo of “Ryuai Downs' (Dalgety and Co. ana N.Z.F.C. D. Co.). Dominion Farmers’ Institute, 11 a.m.— Sale of U-roomed residence, Hataitai (S. G. Nathan and Co.). Dominion Farmers’ Building, 7.36 pan.— Salo of 122 building sections, Tawa Flat (Dunbar Sloane Ltd.). Plimmerton Ewe Fair ,N.Z.L. and M.A. Co., Ltd.). Foilding Sale. Johnsonville, 12.30 p.m.—Fat stock sale. To Aro House, Cuba Street 1 p.m.— Salo of carpets, furniture, etc. E. Johnston and Co.). Messrs. Adams and Blyth Ltd.’s Bulk Store, Wakefield Street, 10.30 a.m.— Sale of assigned stock of glass (13. Johnston and Co.) THURSDAY. Saloyards, Mangaweka, I 1 a.m. —Sale of 37-1 acres freehold lanu (N.Z.F. Coop. Dist. Co., Ltd). Mangaweka Ewe Fair (Associated Auctioneers). FARMING INTERESTS LONDON MARKETS ' HIGH COMMISSIONER’S CABLED REPORT The Department of Agriculture has received the following cablegram dated February 11 from the High Commissioner for New Zealand, London:— Tallow. Market quiet. Present quotations are:—Mutton: Fine, 445. 6d. to 455. per cwt.; fair to good, 38s. to 40s. 6d. per cwt.; dark to dull, 355. 6d. to 365. per cwt. Beef: Sweet and/or mixed, 395.

to 425. per cwt.; fair to good, 365. 6d. to 395. per cwt.; dark to dull, 31s. 6d. to 355. 6d. per cwt. Mixed: Fair to good, 365. to 395. per cwt.; dark to dull, 31s. 6d. to 355. Gd. per cwt. Gut, etc.: 335. 6d. to 355. 6d. per cwt. Hemp. Manila market firmer during this week. “J” grade February-April shipments sold at X4l, at the close X4l 10s. Output from January 1 to 30, 100,060 bales, against 96,000 same period last year. Stocks in Manila January 31, 151,000 bales, against 93,000,; in Great Britain, 11,500, against 4000. Sisal market quiet. Small spot demand at low prices, but No 1 afloat worth X 37 owing to small supplies in this position. No. 2 neglected, X 35 asked, but no buyers, values being nearer X 34 10s. Tow quiet. Value of No. 1, £29 to X 29 10s. New Zealand market dull for distant positions; only demand is for small lots on spot or close at hand. Quotations nominally unchanged. Wool. Bradford market firm tone. New business in tops smaller, but tendency is against buyers. More business in yarns. Present quotations for tops are:—Cl’s (merino), warp, 4s. 6.1 d. per lb., average 4s. 5-Jd.: sG’s (super halfbred), 3s. 6Jd.; 50’s (half bred), 2s. 7jd.; 40’s, prepared, 2s. Old. BUTTER AND CHEESE DAIRY BOARD’S ADVICES. The New Zealand Dairy Produce Board has received the following market report from its London office dated Feb-

Retail prices unchanged. The board has also received the following advice from its agents in Canada: Butter: New York, 46 cents (Is. lid.); Montreal, 36-j cents (is. Gid.); San Francisco, 45$ cents (Is. Vancouver market: "New Zealand finest 361 cents (Is. Gfd.), firsts 36 cents (Is. 6if.), seconds 35 cents (Is. 51d.). Messrs. M. A. Eliott, Lamited, Palmerston North, have received the following cabled advice from their Loudon agents:—Butter, firm. 160 s. to 1645.; unsalted, 1665. to 1705.. Cheese, quiet. 925. to 935. OTHER ADVICES The Bank of New Zealand has received the following advice from its London office as at close of business last week :— Butter. —Firm, 160 s. to 1665. per cwt. Cheese.—Steady. 925. to 945. per cwt. Frozen Meat.—The demand for lighter veight wethers is good. The market for ewes has improved owing to shorter supplies. There is a fair demand for lambs. Beef is in little better demand. Wethers, light, fid. to 7jd. per lb.: ditto, heavy, 4Jd. to Slid.; ewes. 4Jd. to 5Jd.; lambs, 2’s, 9fd. to 10jd.; ditto. B’s. 92d. to IOJd.; ditto, 4's, 94d. to 101 d.; ditto, seconds, 9d. to 9fd.; ox hinds. 4}d. to fid.; ox fores, 3Jd. to 4d.; cow hinds, 4d. to 41d.; cow fores, 3Jd. to 3Jd. STOCK SALES Messrs. Dalgety and Company report that there was a fair yarding of sheep and a small entry of cattle at the Palmerston North sale on February 9. Quotations Good woolly b.f. lambs. 18s.; fat and forward Z-tooth wethers, 245.; small b.f. woolly lambs, 125.; fat and forward cows, X 3 17s. 6d.; weaner heifers, 305.; springing cows, 7 gus. Messrs. Dalgety and Company report that there was a good entry of sheep and a small yarding of cattle at the Feilding sale on Friday. Considering tnc dry weather, there was id good demanti lor all classes of sheep, and practically all lines changed hands. Quotations:—Fat ewes, 17s. 3d. to 18s.; fat wethers, 225. 6d. to 265.; w.t. wether lambs. 13s. to 14s. 6d.; small ditto, 6s. 6<i. to 10s.; shorn b.f. lambs, medium. Us. to 12s. 6d.: shorn b.f. rape lambs. 17s. to 17s. 4d.; medium woolly b.f. lambs, Ifis. 4d. to 15s. Bd.; woolly b.f. rape lambs, 205.; 4 and 5-year ewes, 19s. to ZUs. 10d.; aged ewes, 6s. 9d, 9s. 6d. to Us.; forward ewes, 14s. IDd.; 2-tooth ewes, 30s. 4d.; 2-tooth wethers, 19s. 4d. to 225. Bd.; 2 and 4-tooth b.f.’s, 235. 2d.; springing heifers, £5. £6 10s.; springing cows, £6 IDs. to £7 10s.: cows dn milk, £5 10s.; forward cows, £3 2s. 6d., £3 7s. 6d.; fat cows, £5 10s. to £8; fat heifers, £8; fat bullocks, £lO 2s. The New Zealand Loan and Mercantile Agency Company, Limited, report that at tho Levin sale on February 7 prices were:—Fat ewes, 205.; fat lambs, 235. 6d.; medium 2-tooth ewes, 255.; 2-tooth wethers. 225.; medium lambs, 125.; fat cows, £5 to £7; fat heifers, £5 15s. to £6 55.; forward condition cows. X 3 to £4; store ditto. £2 ss. to £2 12s. 6d.; heavy vealers. £3 75.; light ditto, 265. to 375. fid.; bulls, £3 to £6 55.; in calf heifers, £4 13s. to £6 55.; good Jersey weaner heifers, £2 ss. to £3 10s.; dairy cows due spring, £8 10s. to £l2; porkers, 365. to 375. Cd.; baconers, £2 to £2 55.; stores, 17». 6d. to 225. 6d.; weaners, ss. to 13s. 6d. Quotations at Waikanae on February 8 were:—Mixed age ewes, 225. to 235. 6d.; broken mouth ditto. 14s. to 16s. 3d.; cull ditto, 7s. 6d. to Ifc.; store wethers. IBs., 20s. to 225.; small lambs, Bs. 4d. to 9s. 6d.; Jersey bullocks, X 5 to £5 125.; forward condition cows. £4 to £4 155.; store ditto. £3 to £3 75.; forward condition heifer, £4 10s.; cull cows with calves. £2 10s. to £3 15s. At Otaki on February 9:—Good 2-tooth ewes made 305.; good 2-tooth wethers, 235. DANNEVIRKE RAM FAIR. Messrs. Dalgety and Company. Limited, report on Friday's Dannevirke ram fair as follows:—We offered our quota of 150 rams and had a most satisfactory clearance. Good Romneys met with keen competition, medium sorts made hard selling, and nondescripts were not wanted. tiouthdowns. on the other hand, sold themselves greedily and for buyers of them it was a case of get in where they could and when they could. We had a rather poor quality entry of Rontnevs. but a tip-top one of Southdowns. We made sales as follows — Romneys:—lo shearlings on account Mr. J. Holden. Raltaiatai. to Messrs. Stewart Bros.. Ti Tree Point, at tOi gns.; 10 on account T. Rowland. Karere to 11. O. King-. Whetekura, at 4f and 4 gns.; 5 on account Moore Bros.. Carterton, to Mrs. Johnson. Waitahora. at 5J gns.; 5 at 4 gnu., to Mr. Nofval Speedy. 5 at 4J gns.. to Fi'cd. Ellingham, Whetekura: 5 on account D. G. Forlong. Bunnythorpe. to A. Olsen. Awariki. at 53 gns.: 5 on ac count Moore Bros.. Carterton, to Mr. Stan. Speedy, at 5 gns.: 5 on account. B Wingate, Longburn. to Mr. J. S Barrett. Te Uri. at 4 gns.; 5 to Mr. Norval Speedy. Burnview, at 33 gns

Southdowns:— 4 shearlings (first prize nen at Dannevirke Show), on account W. tf. Rooth, Carterton. to Mr. D. Bose. Midmar. at 13 gns.; 3 on account 11. B. Stuckey. Awatriki, to R F. Gregg Tiratu. at 9 gns.; 2 to G. Boyden. Tiratu. at 9 gns.; 5 to L. G. Baines. Konua. at 7? gns.: 5 to G. Carmichael. Ngapaeruru. at 7A gns.; 5 on account R. J. McDonald, to F. Ross. Connor, at 12 gns.; 5 on account P. I). McLachlan. Masterton. to G. n. Gillam, at gns.; 5 on account W. IL Booth. Carterton, to Limnus Estate. Taka pan, at 9i gns.: 5 on account James Grav, Ruaroa, to E. Oakenful. Waipawa. at 8 gns.; another 5 to same buyer at «ame price: 5 at 7 gns.. to R Wifiln. Ngapacruru; 5 to L. O. Breakwell, at S* gns.; 5 at 8 gns., to R. Cowper. Kaitoke; 5 to D. W. Dunford, Kumeroa at 6X gns.; 5 to J. S. Barrett, at 7J gns.; 2 on account

R J McDonald, to Weber Estate, at 10 grs.; 3 to G. H. Gillam, at 7$ gns.

PAHIATUA EWE FAIR The Wairarapa Farmers Co-Operative Association report that the entry at the Pahiatua Ewe Fair did uot come forward quite up to advertised numbers, but the main lines? and in fact, the whole yarding was of much better quality than has been the case for some years. Buyers were present from Southern Hawkes Bay Wairarapa, Wavcrley, Wanganui, Manawatu, and Te Awamutu. A keen sale resulted, purchasers being well distributed throughout the districts mentioned. Prices were much firmer than at any previous sales, and a total clearance was made under the hammers. The principal lives were disposed ol as follows:—288 4-yeur ewes, 245.; 484 ditto. Z2s lOd.i 160 ditto, 225. 9d.; 399 5-year ewes 225. Id.; 273 ditto, 21s. fid.; 241 ditto, 22s ■ '250 ditto. 19s. 2d.; 107 ditto, 19s. 7d.; 155 'ditto. 20s. fid.; 160 4 and 5-year ewes, 19s. 10d.; 243 4 to 6-year ewes, 20s. 7d.; •?R7' 4 and 5-year ewes, 21s. 4d.; 134 ditto, 19s 9d.’ 167 ditto, 19s. 9d.; 220 ditto. 18s. lOd • 272 ditto, 19s. Bd.; 276 ditto, 19s. 7d-’l5O ditto, 18s. 6d.; 123 4-year Lincoln ewes 21s. 9d.; 183 2 and 4-year Lincoln 275.; 160 ditto, 13s. 4d.; 184 ditto, 17s 10d.; 199 ditto. 18s. Id.; 94 2-tootb ewes 28b.; 108 ditto. 265. 9d.; 62 ditto, 275. 6d.; 121 ditto, 235. 6d.; aged ewes, 135., 14s. 2d. to 15s. egg-laying competition MASTERTON CLUB. Dominion Special Service. Masterton, February 11. The following are the results of the e-’K-laying competition being conducted at Solway poultry farm by the Masterton Poultry ‘Club for the forty-fifth week ended to-day:-

Light Breeds. Eggs for week. Totals. Geo. Masters, No. 2 5 254 J. Bradbury, No. 1 6 2.J T. aud J. Taylor u .224 W. Spence 4 -T4 Geo. Sellar — Mil Geo. Masters, No. 1 4 207 J. Bradbury, No. 2 5 203 E. A. Tozer 4 177 L. B. Mauusell 3 173 Rayner Bros — 171 J. R. Dean 5 152 Heavy Breeds. A. A. Hoare, 1t.1.R 4 214 B. Pimm, 8.0 6 191 Rayner Bros., 8.0 6 187 F. Maunsell, 13.0 4 155 TEAMS. Heavy Breeds. J H. Kisslin, L.S., No. 1 .. 7 193 No. 2 B— 216 J, No. 3 B— 190 599 P. Bailey, 8.1. R., No. 1 — 209 „ No. 3 3 181 590 H. Kissling, R.1.R., No. 1 . — 163 „ No. 2 1 162 „ No. 3 0 216 541 W. H. Ellis. L.S., No. 1 ... 5 175 „ No. 2 3 139 „ No. 3 B— 168 482 F. Tavlor, 8.0., No. 1 B— 218 „ No. 2 3 160 378 0. Nation, S.W., No. 1 5 79 „ No. 2— 116 „ No. 3 6 131 326 Light Breeds. C. H. Robbins, No. 1 5 232 „ No. 2 5 203 „ No. 3 7 289 724 L. B. Maunsell, No. 1 5 193 „ No. 2 7 250 „ No. 3 4 248 691 W. G. Webb. No. 1 3 193 „ No. 2 5 236 „ N.o 3 6 248 ' 677 W. Spence, No. 1 6 250 „ No. 2 6 187 „ No. 3 6 236 673 E. W. Tooby, No. 1 6 239 „ No. 2 4 220 „ No. 3 4 181 641 F. S. Allen, No. 1 M— 200 „ No. 2 6 231 „ No. 3 4 192 623 A. A. Hoarc. No. 1 4 203 „ No.* 2 5 228 ~ No. 3 — 175 606 E. J. Wing, No. 1 3 171 „ No. 2 5 21 9 „ No. 3 6 219 602 H. Leger, No. 1 2 201 „ No. 2— 165 ~ No. 3 5 153 . 549 F. Shearman. No. 1 6 194 „ No. 22 175 „ No. 3 3 167 536 Dr. Tweed, No. 1 — 40 „ No. 2— 91 „ No. 3 4 260 391

COMMERCIAL ITEMS WELLINGTON STOCK EXCHANGE YESTERDAY’S BUSINESS AND PRICES At the morning call yesterday sales reported included Commercial Bank of Australia (rights) £8 195., and New Zealand Insurance £2 os. 6d. At the afternoon call, reported sales were:—New Zealand Government 41 p.c. Inscribed Stock, 1939, £97 2s. 6d., New Zealand Government, 4J p.c. Inscribed Stock, 1938, £97 2s. 6d., Bank of Australasia £l4 16s, South British Insurance £2 17s. 9d. The following are yesterday’s latest

SALES IN OTHER CENTRES By Telegraph.—press association. Auckland, February 13. (Sales: Bank of Australasia, £l4 145.; Commercial Bank of Australia, 275. 5d.; Bank of New South Wales, £47 12s. 6d ; New Zealand Insur.iuea 40s. 6d., 40s. 3d.; South British Insurance, 575. 9d.; Auckland Gas. 225. 5d. ; Kauri Timber, 21s. 3d.; Mosgiel . Woollens,. £6 15b. Christchurch, February 13. Sales: National Bank of Australasia (£5 paid), £8 18s. 6d.; Bank of New South Wales (cum. div.), £47 15s. (two parcels); Bank of New Zealand, 58s. ba.; Commercial Bank of Australia (rights), 7s. 2d. (three parcels); Westport Coal, 31s. 6d.; Auckland Gas, 225.; Colonial Sugar, £56 15s. Dunedin, February 13. Sale: Upper Nevis, 20s. 6d. THE WOOL MARKET Much of the wool suitable for the United States has gone in that direction. Mail advices show that the wool market m the United States remains firm and that wool is receiving more attention from manufacturers than for some time past. This is expected to continue as long as the present improvement in the piece goods trade holds. According to the “Textile World, of New York, wool manufacturing activity in the United States during October last was at a high rate., the average machine activity # registering 74.5 per cent, compared with the low point of the year in July of 65.3 and the January figure of 71.9 per cent. Wool consumption from January was e 463,516,0001b5., compared with 414,387,0001 b. in the corresponding period of the previous year. The consumption of wool during October on a grease basis was 970,0(k)1b. more thdn in September, and of the wool used in that month 61 per cent, was domestic fleece wool. The “Journal” states that stocks of foreign wool for clothing purposes have rarely, if ever, in recent years been at such a low point. If the mills in the United States were to use foreign wool exclusively for three weeks, the entire amount available would be absorbed. AMALGAMATION OF BUSINESSES Amalgamation, or merger, is now being forced to the front by many captains of industry. Sir William Plender. Sir Alfred Jlbnd and Mr. A. E. Cutforth have been taking an active part in bringing tliis matter before the public. The pooling of knowledge and experience, a concentration of effort, elimination of .waste, and a bettei- and more economical adaptation and use of plant and machinery, they urge must bear fruit in well devised, properly organised and well administered combinations. “Amalgamation without co-operation, both of the management and of the workmen, cannot achieve its object. Unless there be on the part of all concerned—employees as well as employers—mutual trust and confidence, the advantages which theoretically attaoh to amalgamations will only be very partially realise!. A common purpose to produce the measure of consumptive needs, as opposed to unrestricted production, and at as low a cost as possible combined with welldirected and active, aggressive salesmanship must benefit -customers, workers, and the providers of the capital.” An amalgamation does not mean fusion or merger of businesses as such, but rather that the owners of the business have interests in common instead of interests which conflict. Quite recently there has been an amalgamation in respect to the fish business in Wellington. An Auckland firm has joined forces with a Wellington firm and the two promise to eliminate waste and give to the .consumer a supply that will he satisfactory, CUSTOMS REVENUE. The Customs revenue collected at the port of Wellington yesterday totalled £16,192.

ruary 10:— Butter. 10/2/28 Last week B. 8. New Zealand — Salted 160-166 160-164 Unsalted 166-170 164-168 Market firm. Deliveries New Zealand this week 1580 tons, in store 2650 tons. Australian — Finest salted' 154-158 156-160 Unsalted 156-158 156-160 Argentine— Finest unsalted .. 148-152 144-152 Danish, 184s. spot, 175-176 f.o.b., last week 178-180, 175s. Dutch— Creamery unsalted 196-198 194-190 Estlionian — Unsalted 158-160 158-160 Polish 157-160 151-156 Siberian —Salted .... 150-152 150-152 Retail prices expected to advance next week, New Zealand to Is. 8d., Danish to Is. lOd. Cheese. New Zealand— White & coloured 92- 93 92- 93 Market quiet but steady. Australian— Finest white and coloured 90 Canadian — Finest white / 100-104 100-104 Coloured 98-100 98-100 English— Finest farmers’ ... 128-130 128-130

buying and selling quotations:— Sellers. Buyers. N.Z. GOVT. LOANS— £ s. d. £ s. d. 4! t p.c. Ins. Stir., 1939 97 0 0 — 4? t p.c. ditto, 1938 ... 97 0 0 — 5 J i p.c. ditto, 1933 ... 1(10 15 0 101 9 6 5} , p.c. ditto, 193G ...100 15 0 101 0 51 - p.c. ditto, 1941 ... 98 15 0 —• 51 t p.c. ditto, 1932 ... 98 13 0 —— 4J i p.c. Bonds, 1939 .. 97 0 0 — 41 [ p.c. ditto, 1938 ... 97 0 0 —» 4J I p.c. ditto, 1930 ... 97 ) p.c. ditto, 1933 ...100 15 0 — 5 J 15 0 —- ) p.c. ditto, 1936 ... 101 0 0 DI VENTURES— N .Z. Breweries (stock) 1 7 — Ditto (bonds) 1 2 8 •—- HANKS— Commercial of Aust. (ord.) 1 7 4 —— Ditto (rights) 0 7 0 0 7 4 National of N.Z 6 19 0 —- National of Australasia .19 (£5) — 8 6 Now Zealand 2 IS fl — 19 0 Ditto "D” shares (pd.) 1 0 3 •— Union of Aust 14 14 0 — FI NA NCI AL— Dalgety and Co ——• 13 17 0 E unitable Building .. — 9 0 0 N.Z. Guarantee Corp. (ord., 8s.) —— 0 8 10 Ditto (pref.) 1 1 0 N.Z. Invest., Mortg., and Deposit 0 9 0 — N Z. Loan and Merc. (ord.) 93 0 0 — Well. Invest., T. c. A. 0 10 3 — V ,•<•11. Trust, Loan .. 6 12 6 —— GAS— Auckland (paid) .... 1 2 0 c hrlstchurch 1 3 0 — Wellington (pref.) .. 0 16 3 — IN SURANCE— National Insurance .. 0 MEAT PRESERVING— li) 4 •— Gear — 1 17 6 i.Z. Refrlgerat. (10s.) (ox-div.) — 0 8 0 Well. Meat Export (ord.) 0 9 6 — TRANSPORT— TTnddart-Parker (ord.) — 2 12 0 r ’ and O. def. stock.. 239 0 0 — COAT.— Westport-Stockton (ord.) 0 1 1 —— Ditto (pref.) 0 3 c V raipn u TT mber-Lovlnnd-O’Brien — 1 18 0 National — 0 12 0 BREWERIES— New Zealand 2 0 0 Staples and Co. (ex1 17 9 0 0 — MISCELLANEOUS— c . M. Banks (ord.) 1 2 0

British Tobacco (Aust.), 19 6 o 0 0 (ord.) 1 Burns, Philp, and Co. Electrolytic Zinc (pref.) — w •> 6 (cum. div.) — 1 13 0 N.Z. Drug «J 8 0 — N.Z. Fanners’ Fertiliser 4 0 0 — N.Z. Paper Mills .... — 0 17 0 Sharland & Co. (ord.) — 1 0 y Taranaki Oil Fields . 0 9 0 — Whitcombe and Tombs (coutrib.) ■ > 8 0 — Wilson’s Cement ... 1 17 6 — MINING— Wai hi ■ — 0 10 6