FARM & COMMERCIAL

Dominion, Volume 21, Issue 127, 27 February 1928, Page 12

FARM & COMMERCIAL

NEWS AND NOTES

AUCTION SALES TO- DAY. 21 Grey Street, 3 p.m.—Sale of factory site, Miramar (S. G. Nathan and Co.). Pahiatua. 11.30 a.m.—Supplementary ewe fair (W.F.C.A.). 98 Manners Street.. 2 p.m.—Sale of household furniture, etc. (Ramsey Wilson and Co.). 70 Ellesmere Avenue, Miramar. 1.30 p.m.—Salo of household furniture (E. Johnston and Co.). TO-MORROW. Dominion Farmers' Institute, 11 a.ra.— Sale of 31 home sites, Belmont (S. G. Nathan and Co.). 21 Grey Street, 11 a.m—Sale of residence. Kelburn (S. G. Nathan and Co.). The Farm, Alfredlon (near Eketahunn). 11 a.m.—Dispersal sale of “Moron” Jersey stud (Wright. Stephenson and Co.). •26 Ptiriri Street. Miramar, 1.30 p.m.— Clearing sale of furniture and effects (IT. E. Leighton). 164 Cuba Street. 10.3(1 n.m.—Sale of unredeemed pledges (J. W. Foster and Co.). Upper Flatt Saleyaid-. 1 p.m.—Stock sale (Dalgetv and Co.). 19 Farm Road. Northland, 10.30 n.m. — Salo of household furniture (E. Johnston and Co.) Ponntahi. Carterton. 12.30 p.m. —Clearing sale of live and dead stock (Dalgety and Co.). ■WEDNESDAY. 21 Grey Street. 11 a.m.—Sale of residence. Kelburn (S G. Nathan and Brandon Street. 2.30 p.m. —Sale of property. 15 TToke Street (J. IL Bethune and Co.). o i r Salevards, Taihnpe. 12.45 n.m.--Sale of land on account Public Trustee (N.Z.L. and ALA.). Johnsonville Fat Stock Sale, 12.30 p.m. LONDON TALLOW SALES Messrs. A. H. Turnhull and Company have received the following cablegram from Messrs. W. Weddel and Co., Ltd., dated London, February 22:—At tallow auctions to-day 900 casks were offered, and 290 casks sold. Late rates to 6d. less.

FARMING INTERESTS FROZEN MEAT MARKET LONDON QUOTATIONS i (Bee. February 26, 5.5 p.m.) London, February 25. Sheep.—No New Zealand or Australian is offering. Argentine, medium sd. Lambs.—Canterbury, heavy, .Oil. Australian: Victorian firsts. Btld.: seconds. 7i<l.; all thirds. 7d. Argentine: Firsts, light. Bid.; medium. BJd.; seconds. 71d. Frozen Beef.—Australian hinds, heavy sd. Argentine, hinds old.; chilled Argentine. fores 3jd.. hinds ojd. Other meats unchanged. SMITI I Fili LI) QI’OTAT InN S. The New Zealand Meat Producers' Board lias received the following cablegram from Its London otliec. dated February 21. advising Sniithfiidd delivered prices at that date as follow (prices for the two previous weeks are shown within parentheses):— New Zealand wethers and maidens: Canterbury quality, selected brands, old season, 561 b. and under, not quoted (fijd. per lb.); old season, 57-G4111., not quoted (fid.); old season, (15-72111., not quoted (ojd.). Other brands, new season, s<ilb. and under, not quoted (7d.. 7(1.): new season, 57-lillb.. not quoted (GJd., 6Jd.): new season, l)5-721b., not quoted (sfd., sjd.). New Zealand ewes, Glib, and under, not quoted. New Zealand lambs: Canterbury quality, new season, 361 b. ami under, Kljd. (Itßd., 10fd.).; new- season. 37-42111., Illjd. (IOJd., IOJd-) I new season, 43-50111., 10(1. (IOJd.. lOJd.): seconds, 9}. (9,(1., not quoted). Selected brands, new season, Stilb, and under. 10}d. (101 d. 10}.); new season, 37421 h., 10}d. (IOJd., IOJd.). Ither brands, first quality, new season, 3(i!li. and under, (ltd. (I)jd.. !>Sd.): new season, 37-421 b., 91(1. (Old.. 9?d.); second quality, new season, 307.32111. average. 9Jd. (9!d.. Old.). Australian lambs. Victorian, first quality, 3(111). and under, Sgd. (Sfd., Spl.); 37-4211)., not quoted. Argentine lambs: First quality. Stilb, and under, B}d. (Sd., 7Sd.); 37-4211)., 81d. (B}d.. Sd.). New Zealand beef; Ox fores, "Sd. (3;5d.. 3?d.); ox hinds, IJd. ( Hd., 5d.); cow fores, 3}d. (3}d.. 3}d.); cow hinds, 4d. (•Id.. 4d.). Argentine chilled beef: Ox fores. 3fd. (3Jd.. 4}d.); ox hinds. s(d. (Cd.. (>?(!.). Argentine frozen beef: Ox fores. 3}d. (3Jd„ ::?.); OX hinds. 501. (did.. s}d.)._ Frozen pork: Porkers, GO-SOIb., 7}d. (7}d., 7id.); porkers, 81-9911)., (Rd. (ii:|d., (Rd.): porkers. 100-121111)., (Rd. (IR(L. (Rd.); baeouers, 121-18011)., did. (CJd., (iid.). Frozen veal, not quoted. Remarks. —Lamb market: Firm. Arrivals not acetiimilaling: consumption good. Mutton: Stocks practically exhausted until arrival next week’s steamers. Frozen pork: There Is no change in market. "Heavier arrivals Home-killed continue. Messrs. Levin ami Co. Ltd. have received the following eableeruiu from their London agents, dated Februttrv 24:-As compared with last week’s cabled advices. quotations arc unchanged. The supplies’ of lamb .are temporarily short, until further arrivals next week. Practically no mutton is available, ami com sequently quotations arc only nominal. The market is very flrm. WHEAT, FLOUR AND GRAIN LIVERPOOL QUOTATIONS. i I London, February 2". IVheat cargoes opened firmly at nn advance of threepence tn sixpence, but later 1 buyers were inactive. Parcels are hold for an advance of threepence Io sixpence, but the closing tone was easier. Liver polo futures: March, I.os, .1 5-Bd.: May. 10s. 23d.; July. 10s. 33d. Spot lots ore firmer. Australian, ex-ship, 535. Flour is firmer. Australian, ex-stern, 365. 9(1.. 375. (Id. Barley is quiet, and banns “nd pens are steady.—A.P.A. nnd "Sun." LONDON HIDES MARKET (Hee. February 26. 5.5 p.m.) London, February 25. Hides are dull. Nothing is doing in Australians, but there is a prospect of an early improvement. The demand is nominal. DAIRY PRODUCE Messrs. M.. A. Eliott. Ltd.. Palmerston North, have received the following cabled advice from their London agent:-!:—But-ter firm at the advance. 1625. to 1675.; unsalted, 168 s. to 1725. Cheese steady; 945. to 955. Messrs. A. 11. Turnbull and Company have received a cablegram from Messrs. W. Weddel and Co.. Ltd., London, dated February 24, reading a.s follows (the previous week’s quotations are »»•. parentheses)Danish butter. 188 s to 1925. (184 s. to 186 s.): New 'Zealand unsalted 168 s. tn 1725. (168 s. to 170 s.); New Zealami salted. 1625. to 168 s. (1625. to 1665.); market firm. New Zealand cheese, white and coloured, to 955. (945. to 955.); market steady. Canadian white cheese. 10? s. to lC6s. (100 s. to 104 s.); Canadian coloured cheese. 100 s. to 102 s. (98s. to 1025.). PALMERSTON WOOL, SKIN, AND TALLOW SALE Messrs. Abraham and Williams. Ltd., report having held their monthly sale of wool, skins, hides, and tallow al Palmerston North last Wednesday, when they offered a very large catalogue to a full attendance of buyers. Competition was exceedingly keen, and everything sold readil.y under the hammer. Wool, oi which there was a large entry, again sold at prices unite euual to the. large centres. Sheepskins: There was au exceptionally strong market for all lines, at >3d. to Id. advance. Hides: Ml grades sold at id. to <d. easier. Calfskins sold on a par with last sale. Quotations follow Wool.—Soul hd_ov.”i. 93d. to 231 d. Lambs. Superior, 21Ml.ir *?*x , iivn. 19M1 to 21d.; seedy and inferior. 15d. to 17ML Crossbred: Medium. 16’d.; coarse isd. to 16 1.; ' seedy and inferior. 12d. to 14d.: dead. 13ld. to 14d.: pieces. BJd. to ltd.; locks and nieces, 6?>d. to Bd. Shoposkins.—Crossbred : Fino. 16tjd.: medium. 15ld. to 16d. '•our.-c I’Ll, to V l d.; lambs. 14? d. Io 15<L: dc”d. lid. to I’iiL: drmnged and inferior. 10b 1 . to 13ML: nelts, IOJd. to 119 d.: sp.Hed pelts, heaw, 7s. each: medium. 6s. 9d.; light. 3s. sd. to ss. ICd. fT?dec.-Ox. heavy 12ihL, medium 12;’d.. HHit 1?-’d.; onw, heaw ll?d.. medium 129 d . tight 123(1.: cut and inferior, 9.’d. to IVd. Calfskins.-Calf, staged, 15d.: cut. 1?d.: «Hnny nnd inferior. 9MI. to 10d.; year-li-gs 121 d. to I3hl. ,r '’|lcv’.~Tins. ss. to .f°3 opr ton. ’ 1, 1 oa. ♦ lb

LIVE STOCK SALES WESTFIELD Messrs. Dalgety and Co, Ltd., report having held their weekly sale of fat stork at Westfield on Wednesday, as Ü BeefV'rhoj’e was an average yarding of both cow and heifer heel, 'Mth little oi no change in values. Extra choice ox sold to 33-. per 1001 b ; choice and prune. 30s. to 325.; just lul able. z6s. to Js., prime young vow and heifer beef. -6e., ’ just kiikihlc.x 20s. to 245. ~ isheep.-There was a smaller yarding, prices improving as the sale advanced. '■Nti-a heavy prime wethers, woolly, made 3”s ■ heaw prime woolly, 295.; medium prinie woolly. 255. to 205.; light and unfinished woolly. 21s. t° 235.: heavy prune ewes woolly. 18s. to 225.; lighter prime woolly. 14s. to 175.; other ewes, woolly. Uh. to 13s. . , Lambs.-An average yarding, which sold *»t Into rates. Heavy prime lambs made 27?.: medium prime. 235. Io 255.; light ' Calves.—A moderate yarding, selling at lute quotations. Heavy vealers made W-. to £3 18s.; medium. ,£2 15s. to £3 55.; light. £1 15s. to £2 10s.: rough. £1 to ' I’igs • X good vat dinc. which sold under keen competilioii at slightly better values than last week. Several pen- of baeoners from Opotiki reached the top mice. Chouners made to £3: heavy ba-rmetv. £5 15s. tn £3 18s.: medium I)ticorers. •« 8s to £3 145.: light baconers £3 to £3 7s'■ 1-e-ivv porkers. £2 15s. to £A: medium porkers, '£2 ss. to £2 125.: light porkers, £1 10s. to £2 !s. ALFREDTON EWE FAIR. The New Zealand Loan and Mercantile Agency Co.. Ltd., report on the .Alitollon ewe fair as follows:-A yarding of ibout 0000 ewes was submitted to a fairly iarc<- attendance of buyers from Mara,vatu. I’ahiatna. nnd Wairarapa. Competition for good class sheep was fairly keen, with prices ruling on a nar v.tli tale sales. Our proportion of the ynirting was 4000, of which we made •; total ckavanec. at the following prices: Four anil six-tooth ewes, 275. 6d.; four-year ewes good, 245. 3d.; six and eight tooth ewes' good. 245. 7(1.; four and five-year ewes. 19s. to 2ts. 6d.: five-year ewes. 18s. 6d. to 2ts.; low condition four ai d fiveyear ewes, 16s. to 18s. 3d.; poorer s< its, 14s to 15s. 6d.: two-tooth ewes. good. 275. rd.’: medium two-tooth ewes. 745. to 265.: poorer sorts, two-tooth ewes, 21s. to 225. 6d.: Romney runs. £4 4s. COMMERCIAL ITEMS WELLINGTON STOCK EXCHANGE LAST WEEK’S BUSINESS AND PRICES Fair business was deme in stocks and shares last week, and Government securities camo in fur a fair amount of attention The I* per cents, changed hands at £97 7>s. and £97 7s. 6(1., and the ">} per cents, at £99. The 5i per cents, were in demand at £lOO 7s. Od., but there was no business done in them. Auckland Harbour Board debentures changed hands at Ji 104 10s. for the (» per cents, and £9l> for the 5} per cents., due 1937 Wanganui City 5} per cents. (104.>) were wanted at £lOO. Bank shares were lit active deiniiud and sold freely. Lank of New Zealand in particular meeting with several sales at 58s. 9(1., 58s. 11)4d., and 5Ss lOd. Commercial Bank shares changed hands at 275. lid. (four parcels). Bank of Australasia sold at £l5, Bank ol New South Wales at £l7 17s. (id., National Bank of New Zeaalnd at £b IDs. (Id., Union Bank of Australia (new issue) at £l4 14s- OtL, and National Bnak of Australasia (£lO paid) at £lB for an odd parcel, and £5 paid at £8 19s. 6d, and £8 18s. tld. Financial shares were very quiet nnd very little business wits (lone. Goldsbrough Mort sold at 48s„ and an odd lot sold at 4Ss. 8(1. Dalgety and Co.’s shares on the Melbourne register (Imaged hands at £l3 Us. There wore inquiries fur New Zealand Guarantee Corporation (preference) at 215., New Zealand and River Plate at 275., and Melllngvon Trust and Loan at £6 13s. Gns shares met with a little business. Auckland Gas sold ill 225. 3d. ami 22s 4(1.. and Christchurch Gas were transferred at 235. Cd. Insurance shares met with n moderate business. National Insurance sold at 15s. Sd. New Zealand Insurance at 40s. 9(1., and South British Insurance at. 58s. Wellington Mont Export touched JOs. fid:, and changed hands at that price after steadily rising from 7s. Cd. New Zealand Refrigerating (£1 paid) changed hands at 1-is. c<l.. and 10s. paid at 7s. 9d. and 7s. Sd. Shipping shares were quiet for the regular lines, but business was done in Northern Shipping nt 15s. and 15s. Id., and Devonport Steam Ferry nt 21s. 9d. Coal, woollen, and timber shares were neglected. There was a bid of 345. (id. for Leyland O’Brien. Itri wery shares came in for some attention.’ New Zealand Breweries changed bands at 435. and 425. 9d., Ward and Co. nt 365. and 375. Cd. Staples and Co. lit 375. 3d., and Carlton Brewery at 48s. (cum. div.). In tiio miscellaneous section business was done in British Tobacco nt 395. 9(1. Hayward Pictures «t PJs., Farm ts’ Auctioneering, prof. A at 15s. (td. nnd prof. B nt Ils. 9d., Robinson's lee (.'roam at 235. 6(1.. Holden's Motors at 2l's. 3d., and Tonson, Garlick at 10s. 9(1. Saturday's buying and selling quota-

SALES IN OTHER CENTRES Christchurch. Fibruary ill. q a l,,s—Commercial Bank of Australia. 275. (id. Auckland. I'eliruatv LG. p-Mes—National Bank of \ u«f r.il asin. ■■on'rihmimr. £8 18s. 8'1.; Northern Steamship. 15s. Id. SOUTHLAND FROZEN MEAT COMPANY The trros? profit earned h.v the South land Frozen Meat and Export Company. Limited, for the . year ended 31 1°27 W £23.316. and theie "* ,s brought forward from the . P'v',’? r U s S™ l ; £23,141. making a total of £46.4.>t. The general expenses. including directors’ fees, rents, ini.mnrc , r . x <’s and sundry, totalled £to.c--4. liplaneo of £35.663. The dividend fol the ve.H- at the rate of 11 per cent.n« annum absorbed £12.490 . leaving -L-’.® so to be <aiv->od forward. This company hn» done enn.-istently well. It 1- in the South Isla id what the Gear Company is in the

North Island. It is well managed, and its assets arc healthy. w pa, q,m P capital of the company is £113.547. bundrv creditors and contingent liabilities account for £48.452; the general reserve Stands at £50,01d; the fire insurance re-i-iwve at £25.0(0; and the building reserve ■>i £’s 6(0• so that the only liability other than” that due to the shareholders is sundry creditors The assets include freehold and leasehold propertie £116.06;, stocks and stores in works. £21,510: consignments unrealised. £2291: sundry debtor’s "nd mortgages, £14.534: investments. 099 811; Bank of New Zealand cash on deposit. £43.542; and cash in hand. £92; making a total of £297.863. It. will be noted that all the assets except freehold and leasehold properties are of a liquid character. PRICES OF RAW MATERIALS. (Rec. February 26. 5.5 p.m.) London, February "5. Rubber.-Fine hard Para. T2jd.; plantation. first latex crepe. 14d.; smoked ribbed sheet, lid. ner lb. .lute - Indian native first marks, teliru-arv-March shipment. £29 ICs. per ton. New Zealand Hemp.—February-April shipment. £33 per ton. Copra.--I'aifijed iSonth Sea, lebruarj-M.at-eli shipment. £26 10s. per ton. Linseed oil. £2B per ton. equal to 2s. 3d. per gallon. , Turpentine. 41s. 3d. per cwt., equal to 3s. 3»d. per gallon. PRICE OF COTTON. (Rec. February 26. 5.5 p.m.l London, February 25. The Liverpool quotation for American middling unhand cotton for March delivery is 9.95 d. per pound. CHICAGO WHEAT o POTATIONS. (Rec. Februarv "6. 5.5 n.mA Now York. February 2-5. Chicago wheat quotations; Marell. 1 dollar ,VJ cents; Hay. 1 dollar 53a cents: July. 1 dol'-r 311; cents. CUSTOMS REVENI’E. The Customs revenue collected at the port of Wellington on Saturday totalled £5.->94-

turns were ns under: — Buyers. Sellers. N.Z. GOVT. LOANS— C s. d. £ s. d. •H p.c. Ins. Stk.. 1939 97 2 I*. — •1 i p.c. d’Ito, 103S ... ’.IT 2 6 —— 51 p.c. ditto, 1933 ... toi o o 51 p.c ditto. 193(1 ... — 101 5 0 p.c. ditto. M41 ... — 99 5 0 IJ p.e. Bonds. 1939 .. 97 2 6 -—• 44 p.c. ditto. 1938 ... 97 2 « f»i p.c. ditto. 1936 ... — 101 2 6 DEBENTl'UESN.Z. Breweries (bonds) 1 3 0 BANKS— Commercial of Aust. ford 1 i 7 <; 17 0 Ditto (ri?hts> 0 7 G Commercial Banking C 0. — 2G 5 0 National of N.Z (1 1(1 0 — Ditto "IT’ shores (pd.) 10 3 1 7 3 FT NA Nd ALEquitable Buildin? .. - - 8 10 0 N.Z. (Jun ran fee Corp. (O'-d Ss ) - 0 9 0 N.Z. Invest.. Mort?.. •:nd Deposit 0 9 0 — Well. Trust. Loan .. 6 !•> Ii — GAS— Auckland (paid) .... 1 2 2 • — INSFRANCE— _ 0 15 9 2 17 9 -a PRESERVING1 17 6 N.Z. Rcfriecrnt. (Cl) — 0 16 3 Ditto (1()« I I— ~ 0 7 10 Well. Meat Exp. (ord.) 0 9 9 — TRANSPORT-Heddert-Porker (ord.) — - 2 10 0 Bnion Strain (prof.t.. 1 0 1 —- P. and 0. def. slock. - — 24 9 0 WOOLLEN— Wo’Hngton ford.) ... — G 1 0 COAT.— Wostpnrt-Stoekton (pref.) — 0 3 4 timberLevin nd .O'Brien .... 1 14 9 1 1 il 0 PUEWFRO'S— Stonies and Co 1 17 0 1 17 9 'I'ni 2 10 0 1 1.7 0 — M'St’Vt r.AXEOrS— ('. M. Banks (ord.) .. 1 2 9 —- Briti' 1 ' Tobacco (Aust.) (ord ) 2 0 0 DoiCal and Medical Supply — 0 10 0 Howard Smith .... 1 S 3 —• V Z Farmers’ Per4 0 0 N.Z. Poncr MH>: .... 0 17 0 Sharipod and Co. (ord.) — 10 6 MINING— 1 11) 0 —— Kawn ran — 0 0 s