FARM & COMMERCIAL

Dominion, Volume 21, Issue 129, 29 February 1928, Page 14

FARM & COMMERCIAL

AUCTION SALES TO-DAY. 21 Grey Street, 11 a.m.—Sale of residence, Kelburn (S G. Nathan and Co.). Brandon Street, 2.30 p.m.—Sale of property, 15 Hoke Street (J. H. Bethune and Co.). Saleyards, Taihape, 12.15 p.m.—Sale of land, on account Public Trustee (N.Z.L. and M.A.). Johnsonville Fat Stock Sale, 12.30 p.m. 8 Willeston Street, 1.30 p.m.—Sale of unclaimed and damaged cargo (carpets, chocolates) (E. Johnston and Co.). 98 Manners Street, 2 p.m—Sale of slock of confectionery tearooms, furniture, etc. (Ramsey Wilson and Co.). TO-MORROW. Rangitikei Street, Palmerston North, 2.30 p.m.—Sale of farm, near Shannon. on account Supreme Court (N.Z.L. and M.A.). 235 The Terrace, i p.m.—Sale of household furniture, etc. (E. Johnston and Co.). Upper Hutt Sale. 15 Mulgrave Street, 2 p.m.—Sale of household furniture, etc. (Kiug’sway’s, Ltd.). FRIDAY. Town Hall, Featherston, 3 p.m.—Sale of freehold property, on account Supreme Court (Wright, Stephenson and Co., Ltd.). Dominion Farmers’ Institute, 2.30 p.m —Sale of residential property, sections, and business sites, on account Public Trustee (Longmore and Co.) Farm; Karori, 1.30 p.m.—Clearing sale of dairv herd, implements, etc. . (N.Z L. and M.A.). Feilding Stock Sale. Thp Farm, South Karori Rond. 1.30 p.m. —Clearing sale of stock (N.Z.L. and M.A.). Corner Aitken and Mulgrave Streets, 10.30 a.m. —Sale of building material, iron. etc. (C. W. Price and Co.). Dannevirke Stock Sale.

NEWS AND NOTES

FARMING INTERESTS

NAPIER WOOL SALE CONTINENTAL COMPETITION ADVANCE ON WANGANUI RATES By Telegraph.-press association. Napier, February 28. The fourth wool sale of the season opened at Napier lust night, wlic-n about 16,700 bales out of a total catalogue of 22,651 bales were sold. A bench of 60edd buyers sat, and competition was steady all through. Germany and France were well in the market, taking large quantities ot the better class wools. Competition from Bradford was also keen. Wool suitable for America was sold at high prices. Continental purchasers took rhe majority of the pieces and bellies. There was very good competition Ijviu France and New Zealand for lambs’ wool. Prices on the whole were well up to the level of the previous sales, especially for the "better quality wools, of which large quantities were offered. Some of the fleeces showed seed, and some of the lambs’ wool was infected with smut. There was an absence of the usual geni crons quota of Poverty Bay and East Coast wools, only 2588 bales coining from there. This is hold to be due to the policy of the northern growers this year of shipping their wool direct to England. The demand throughout was consistent, and passings wore estimated at not more than 5 per cent. When the sale was continued this morning, before a full bench, if progressed on much the same lines as last night, tilie French being particularly active. It is generally considered that the sale has maintained the last Napier sale rates, and showed an advance on

PRODUCE MARKETS CANTERBURY BY Telegraph.— Pur.ss association Christchurch, February 28. Except for a little inquiry from the North Island tor one or - two classes of seeds, the market for produce has been very quiet. The recent rains In the north have prompted the little inquiry, but even this stimulant has not developed tha seed demand to anything like tho extent that is usual at this period of the year. The inquiry is mostly for perennial and Italian ryegrass, although the cheaper Southland perennial is proving more appealing to a section of northern buyers. Local perennial is selling at ss. 3d., f.0.b.. s.i. Italian is selling at 3s. 3d. to 3s. 6d. for machine dressed, f.o.b. s.i. Cocksfoot is being bought at B;l. to 81d. a lb. There is very little inquiry from the north, which market is apparently being supplied with carricd-over low grade Danish cocksfoot. At all events, no business can be done by nic/chants at more than 12d. for machine dressed. This figure, it is claimed, leaves a loss on dressing average Bd. seed. There is no change to report in the wheat position. Some sales have taken place at ss. 8(1.. f.0.b., merchants, or ss. 5(1. on trucks for Tuscan. Fowl wheat is quoted forward MarchJune at ss. 7d. f.o.b. The oat market is stagnant, particularly the Algerian. There is no demand for this variety,, of which merchants are holding fair quantities of clipped seed. However. little is now being thrashed, growers preferring to stack in anticipation of something turning up. An Australian inquiry is hoped for in some quarters.

AUCKLAND Dominion Special Service. Auckland, February 28. Potatoes have been coming forward much more freely than was anticipated, and prices have further cased Previous reports as to smallness of the Pukekohc cron, which usually supplies this market with most of its at, this time of year, have been fully confirmed, but the deficit has been made up from other parts of the province, as well as from Hawke's Bay. Manawatu, and Canterbury. The quality Is exceedingly varied. The chaff market remains fairly stable, an.i prices are unchanged. Recently the oats market has been firm and some merchants have had difficulty in replenishing slocks. Southern supplies, however, are now coining I’oiwai-d more freely, and the position is becoming easier. Something of a bombshell has been thrown into the maize market by the announcement. that the sliinping companies interested in the East Coast trade had decided to raise the freigut on maize from lOd. to 2s. per Buck. This is equivalent to approximately 4d. per bushel. Whether this extra charge will be ultimately deducted from account sales of Gisborne maize growers, or added to the price paid by the Auckland merchants, remains to be seen. Wholesale current prices arc:—Shams, mill price. £8 ss. per ton; bran. .£6 15s. per ton; oats, feed, B Gartons 4s. 5(1.. A Gartons 4s. 9(1. bushel; fowl wheat, 7s. 9(1. per bushel; maize, ex store 75... ex wharf 6s. 9d. per bushel: barley feed ss. 9d. per bushel. Cane seed 7s 6d per hiishel; ranizeineal. 15s. 6(1. per 1001 b.: barley meal. 13s. per 1001 b.; chaff, good bright oaten sheaf. £9 10s. per ton for Blenheim or Canterbury; potatoes, local grown £lO per ton. Rnngitikei and Can terhury £ll 10s per ton; onions, 12s. 6(1. to 13s. 6(1. per ewt.

WHOLESALE PRODUCE PRICES Messrs. Laery and Co.. Ltd., report wholesale values as follow Mixed fowl 'feed, 5-sack lots or over 65.. lesser lnt« 6s. 3d.; linseed nuts. 3Ccwt. lots or over £l5 55.. ton lots or over 16s. IGOIL., lesser

lots 16s. 6(1. lOOlh.. freight paid main line stations on 30ewt. parcels meal or nuts; chick raiser. No. 1,501 b. bag 9s. 6d.. ICOlb. bag 18s. 6d.; oyster shell grit, 5-sack lots or over 65., lesser lots 6s. 6d- 1001 b.; pipi shell grit, 5-sack lots or over 55., lesser lots ss. 6d. 1001 b.; wheat, 7s. 3d. and 7b. 6d. bushel; broken wheat, 6s. 3d. to 6s. 6d. bushel, sacks in; barloy, 4s. 6d. and 4s. 9d. bushel; oats, machine dressed and clipped seed Algerians ss. 2(1. bushel, farmers' dressed seed Algerians 45., A grade 4s. 4d., B grade 4s. Id., crushed 4s. 6d., Duns 3s. 3d. to ss. Id.; rye corn, 691 b. to bushel. ss. 6d. bushel; linseed, whole 225., crushed 265. cwt.; mixed wheat and rye corn, 601 b. to bushel, 6s. bushel; Gisborne maize, whole 6s. 8d„ crushed 7s. 3d. bushel; partridge peas, Bs. 9d.. split partridge 7s. 9d., feed peas 7s. and 7s. 6d.; wheatmeal. Iced, half-ton lots, £l4 15s. ton; meatmeal, feed, half-ton lots, £l4. lesser quantities 14s. 6d. cwt.; butter, farmers’ prime separator and dairy bulk and pats. lid. to Is. lb.; turkeys, Is. 2d. to Is. 3d. lb.; geese, 10s., 12s. pair; ducks, runners, young. Bs. to 10s., large white 9s. to Ils. pair; fowls, white Leghorns 4s. 6d. to ss. 6d.. black Orpingtons and similar varieties 7s. 6d. to 95.; eggs, first grade new laid. Is. lOd. to 25.; fungus. New Zealand, 6d. to 10d,; dressed pork, 60’s to 90’s, 6d. to 7d. lb.; sucking pigs, 7(1. to Bd.; inaizemcal, Bs.; charcoal. 14s. 501 b. bag; rock salt, ton lots, =£s 10s., lesser quantities 65.; bluestone, in cwt. kegs, 325. each: mutton birds, in kits, Bd. bird. Tasmanian, in casks, id. bird; molasses, in casks 385.. in cases Bs.; basic slag, 17-20 per cent., arriving April to June, £4 ss. ton, f.0.r.: Blenheim chaff, prime, ton lots, £7 ss. ton. less than ton lots 7s. 9d. cwt., medium quality £6 ton. less than ton lots 7s. cwt.; Wairarapa chaff, good bright oaten sheaf. £6 10s. ton, f.o.r. Wairarapa; Java shelled peanuts, 4d lb., sacks in; peanuts in shell. 4(1. lb., sacks in; superphosphates, list price; barley meal, £9 ton, half-ton lots, lesser lots 9s. 6d.; peameal, half-ton lots £ll, lesser lots Its. 6d.; bran, half-ton lots or over £8 ICs. lesser lots 95.; pigmeal, half-ton lots £’ 55.. lesser lots Bs. 6(1.; pollard, half-ton lots or over £9 155., lesser lots 10s. 6(1.black leaf 40 spray. 21b. tins 135., 101 b tins 50s. FRUIT EXPORT TRADE F. 0.8. SALES QUESTION. Mr. A. McKee, of Nelson, has forwarded a petition representative of exporters of 156,600 cases, urging the Fruit Export Control Board to permit f.o.b. business, for the following among other reasons;— 1. Ready money for those who cannot afford to wait a long period for a settlement. 2. Surety of a satisfactory return without the risk of sea-carriage, strikes, deterioration, or congested markets. 3. Saving in interest and cost of administration. 4. Reduction in the liability of the Government under the guarantee. 5. The development of f.o.b. sales on a payable basis is and will be of particular benefit to the small growers, who cannot in many cases afford the risk of shipping on consignment. 6. There being no compulsion, growers can accept or decline the f.o.b. offers as they think fit. They can always ship ou consignment, as at present, if they so wish. The petitioners refer to loss of business to Otago growers who are not under control. Mr. McKee informs the board that “keen disappointment is felt by petitioners at your board’s lefusal to sanction the execution of an order for 10.006 cases of third grade apples at Bs. per case f.o.b. spot cash—equivalent to over 14s. per case on the Ilomc market. Many of the petitioners do not share the view that the hoard will average Its. per case for good grade, and are unable to understand why, in the absence of an adequate Government guarantee, they are compelled to turn down an offer at a very remunerative figure in favour of the straight-out gambling with their product on an uncertain market."

COMMERCIAL ITEMS

WELLINGTON STOCK EXCHANGE YESTERDAY’S BUSINESS AND PRICES Tha only sale reported on the Wellington Stock Exchange at yesterday afternoon's call was National Bank ol New Zealand at £6 16s. 3d. The latest quotations are as follow.— Buyers. Sellers.

SALES IN OTHER CENTRES by Telegraph press ask-pia n>x Auckland, February 28. Sales.—City cf Auckland (1940). 5i per cent., £96 10s.; Bank of Australasia. £!□ Os. 6(1.: Standard Insurance. 645.; Auckland Gas. 225. 3d. Christchurch, February 28. Sales.- Commercial Bank of Australia, 275. 8,1. (three parcels'; Golilshrough Mort. 495. 4(1. , Hales Renorted.—Commercial Bank of Australia. 275. 9d.: Dalncty and Co. (Melbourne register). £l3 14s. • Dunedin, February 28. Sales Reported.—Bank of Australasia. £l4 19s. WESTLAND BREWERIES LTD. Applications for these shares are coming in from all parts of the Dominion. Intending investors are advised to get into prompt touch with Finch. Webster and Oswin. Sharebrokers. Wellington, or anv other’ member ol tho Wellington Stock Exchange, from all of whom copies of the prospectus may also be obtained.—Advt.

THE WOOL SALES With the wool sale held at Napier on Monday and Tuesday the heavy woo! sales sftsass srewvsc!® the season, and the Wool Committee (iocs not fix any limit for them. Ab a matter of fart, the offerings at Dunedin and nil the odds and ends are marketed and a pood deal of the wool m of inferior quality. The buyers go south to atteui

♦he pale at Invercarcin. and then go on to Dunedin Christchurch, and afterwards come north to Auckland. Wanganui, Napier, and Wellington. The sale at Wellington will be held on Hondav, March 26. and will be the Inst one of tie season. The sale” began at Wellington on November 14. It is usual fop the brst and last sales of the season to be held here. This is for the convenience of wool buyers, who arc able to catch their steamers for home from one of the North Island ports.

METROPOLITAN BUILDING AND INVESTMENT SOCIETY

A Buccessful yefir’s operations 1« disclosed in the thirty-seventh annual report and balance sheet of the Metropolitan Permanent Building and Investment Society. The directors recommend that the usual distribution of profits at the rate of 7 per cent pi-r annum be made, together with a bonus of 1 per cent., and that a further sum of £2006 be added to the reserve fund, which will then stand at f12R,000. The profits far the year (inehid'.ng a balance of £2747 12s. 2d. brought forward from last year) amount to £12.7.16 17s. 4d.; less expense account. £l2ll JRh. ; leaving a net profit of £11,.’>24 395. 4d.: less Interim dividend and amount credited "B" shares at 3) per ernt. for six months ended August 13, 11127, £2W7 11a. 60.; leaving a balance of £81’,67 7s. lOd. This it is proposed to appropriate as follows:—To credit Judders *'B" Investment shares at. .1) per cent, for six months ended February 10, IH2S, plus 1 per cent, bonus. £2061 Bls. fid.: to payment, of dividend at ..J per cent, for s'” months ended Fcbrr.nry Im £l2B, to holders of “A'' shares, pins 1 per cent, bonus. £1806: to reserve fund. £2006: to carry forward to next year, £2862 11s. Id. The dividend on ’'A’’ shares will bo payable on March 19. The retiring directors arc Messrs. XV. Mackay and .T. Marchbanks, who offer themselves for re-election.

FOREIGN EXCHANGES London, February 27. Foreign rates of exchange on February 27, as compared with nar rates, or as averaged first half of 1914. arc:— Feb. 27. Feb. 23. Par.

MONEY IN 1927 The monetary history of the past year was almost humdrum, because there was only one change in the Bank of hnglanci rate, which was reduced in April trom 5 per cent., at which it stood since December, 1925, to 4i per cent. There were expectations then of a further drop in the rate, but the bank's holding of gold began to shrink, its competitors securing all the new gold fro™ Knuth Africa. The war in China also prevented any change in the rate. Nevertheless optimistic opinions again prevailed, but the rat e never varied. At the turn of the halfyear the Bank of England stock oi gold stood at a little over £151,00G,000. a figure to which it was able to add but little in the remaining months of the year. Early in August the New York Federal Reserve Bank reduced its rate of rediscount, from 4 to 3* per cent., but the Bank of England was unable tofollow suit in epite of a pronounced improvement in the American exchange, which continued throughout the autumn. The strength of sterling was due to fortuitous causes, including the financing locally of American cotton and wheat crops. The bank rate for 1927 was .£4 13s. per cent., as compared with £5 in 19C6. and x 4 Ils. in 1925. The market rate for best three months bills was in 1927 £4 4s. lOd. per emit., against £4 10s. 3d. per cent, in 1926. and £4 2s. per cent, in 1925. The bank’s deposit rate was .£2 13s. per cent., against £3 in the previous year, and £2 Ils. per cent, in 1925. Short loans were quoted at £3 15s. per cent., against £* Is. Id. per vent, in t 926. and £3 9s. 3d. per cent in 1925. CUSTOMS REVENUE. The Customs revenue collected at the port of Wellington yesterday totalled £ 11,050. Amalgamated Dairies, Ltd.. report having received the following market report from London, under date February 25:—Butter: Unchanged; market firm, but quieter after two days’ activity: spot stocks well cleared; Danish. 184 s. to 186 s f.0.b.: deliveries New Zealand 1580 tonsstock. 33811 tons; retail , unchanged Cheese; Unchanged, 955.; quietly steady retail unchanged.

Wanganui. The range of prices Is as follows: — Merino— d. <1. to 24} Corriedale — to 24} Sou th down— . 24 to 26 Average . 21 to 23? Inferior . lb to 20} Fine halfbred — to 25-J up Medium halfbred — A verfj ge ........... , 21Coarse halfbred — S>1 pPF . 22 J to 24 Average . 19* Inferior 10} to 18} Fine crossbred— 21 to 23.1 Average ............ . is to 204 Inferior to 17 Medium crossbred— . 19 to 20} to 18} Average ........... . IB Inferior . 12 to 15} Coarse crossbred— Super 17 to 19} to 17 Average IB Inferior . 13J to 15 Low crossbred— UP to 18 Avera ge ............ 15 to 16} Inferior 13 to 14} Hoggets— 50/5(l*s up to 24} to 23} to 22 48/50’s 19 46/4S's 18 44/46's 17 to 21 Lambs— 40/44's 15 to 18J 4n/r>0's 18 to Seedy and inferior .. 11} to 17 Of'M 15 to 24 Pieces— Good to super IS to 20i Low to medium 11 to 17} Seedy 5 J to 12 Bellies— Good to super ...... 14 Low to medium .... 12 to 13j See d v 8 to 13} Crutchin’gs— Good to super 13 to 15} to 12} Low to- medium 8 Seedy 6 to 8J Locks— Crossbred 7 to 9}

14 Ube Etominwii — - ■ A Tib n /ff r\ S lots 16s. 6d. tOOlh., freight paid main lit stations on 3flewt. parcels meal or nut chick raiser. No. 1, 50lb. bag 9s. 6d.. ICO] bag 18s. 6d.; oyster shell grit, 5-sack lo or over 5s., lesser lots 5s. 6d. 1001b.; pi shell grit. 5-sack lots or over 5s.. lessi lots 5s. 6d. 1001b.; wheat, 7s. 3d. and 7 6d. bushel; broken wheat, 6s. 3d. to 6 6d. bushel, sacks in; barley, 4s. 6d. ai 4s. 9d. bushel; oats, machine dresst and clipped seed Algerians 5s. 2d. bushc farmers’ dressed seed Algerians 4s., grade 4s. 4d., B grade 4s. Id., cruehe 4s. 6d., Duns 3s. 3d. to 5s. Id.; rye cor 601b. to bushel, 5s. 6d. bushel; lineee whole 22s., crushed 26s. cwt.; mixed whe; and rye corn, 601b. to bushel. 6s. bushe Gisborne maize, whole 6s. 8d„ crushi 7s. 3d. bushel; partridge peas, 8s. 9i split partridge 7s. 9d., Iced peas 7s. an 7s. 6d.; wheatmeal, Iced, half-ton lot £14 15s. ton; meatmen!, feed, hali-to lots, £14. lesser quantities 14s. 6il. cwt butter, farmers' prime separator an dairy bulk and pats, lid. to Is. lb turkeys, Is. 2d. to Is. 3d. lb.; geese, 10s 12s. pair; ducks, runners, young, 8s. t 10s., large white 9s. to Ils. pair; fowl white Leghorns 4s. 6d. to 5s. 6d., blac Orpingtons and similar varieties 7s. 6c to 9s.; eggs, first grade new laid. Is. 10i to 2s.; fungus. New Zealand, 6d. to Ifld dressed pork, 60's to 90's, 6d. to 7d. lb sucking pigs, 7d. to 8d.; maizemeal, 8s charcoal. 14s. 501b. bag; rock salt, to lots, £5 10s., lesser quantities 6s.; bltu stone, in cwt. kegs, 32s. each; mutto birds, in kits, 8d. bird. Tasmanian, i casks, id. bird; molasses, in casks 38s What a Lovely Idea for a rAKlVl & COMMERCIAL WEDDING GIFT! Fnrkc Anri NEWS AND NOTES Spoons ! AUCTION SALES FARMING INTERESTS What Bride wouldn’t he delighted with such a gift, especially if chosen from Stewart Dawson's, for every up-to-date girl knows the Stewart Dawson name plate is a guarantee of genuine quality. TO-DAY. 21 Grey Street, 11 a.m.—Sale of resi ' ! ence, Kelburn (S G. Nathan anc Co.). Brandon Street, 2.30 p.m.—Sale of pro perty, 15 Hoke Street (J. IL Bethune and Co.). Saleyards, Taihapc, 12.15 p.m.—Salo o land, ou account Public Trustee (N.Z.L. and M.A.). Johnsonville Fat Stock Sale, 12.31) p.m. 8 Willeston Street, 1.30 p.m.—Sale of unclaimed and damaged cargo (car pets, chocolates) (E. Johnston and NAPIER WOOL SALE SET FORK We illustrate:— CONTINENTAL COMPETE i OI74&. «3i.\ new panenj vtinu rj 3, with cutting edge, in an appealing M nt inn ffitn Print* nnlv Wn TION also can supply a case of six TEASPOONS in same pattern at 14/6. • ADVANCE ON WANGANUI RATES Co.). By Telegraph.-press association. Napier, February 28. in cases 8s.; basic slag. 17-2C per cent arriving April to June, £4 5s. ton, f.o.r Blenheim chaff, prime, ton lots, £7 5 ton. less than ton lots 7s. 9d. cwt., met him quality £6 ton. less than ton lots 7 cwt.; Wairarapa chaff, good bright oatc sheaf. £6 10s. ton, f.o.r. Wairarapa; Jav shelled peanuts, 4d lb., sacks in; pec nuts in shell. 4d. lb., sacks in; supe phosphates, list price; barley meal, £ ton, half-ton lots, lesser lots 9s. 6d.: pe; meal, half-ton lots £11, lesser lots lb 6d.; bran, half-ton lots or over £8 10s lesser lots 9s.; pigmeal, half-ton lots £ 5s., lesser lots 8s. 6d.: pollard, half-to lots or over £9 15s., lesser lots 10s. 6d black leaf 40 spray. 21b. tins 13s., 1011 tins 50s. 98 Hanners Street, 2 p.m.—Sale of slock of confectionery tearooms, furniture, Here is another pattern — 9580—Six E.P.N.S. CAKE FORKS—supplied in velvet lined box, at 12/6. SEND FOR OUR ILLUSTRATED CATALO AND PLATE, AT UNEQUALLED V -gill 1 GUE 0 \LUE F JEWEI PRICES. H .I.EKY etc. (Ramsey Wilson and Co.). TO-MORROW. Rangifikei Street, Palmerston North, 2.30 p.m.—Sale of farm, near Shannon, on account Supreme Court (N.Z.L. and Al.A.). 235 The Terrace, i p.m.—Sale of household furniture, etc. (E. Johnston and Co.). Upper Hutt Sale. 15 Alulgrave Street, 2 p.m.—Sale of 'the fourth wouj sale of the season opened at Napier hist night, ,-.licn about 10,700 bales out of a total catalogue of 22,654 bales were sold. A bench of 60edd buyers sat, and competition was steady all through. Germapy and France were well in the market, taking large quantities of the better class wools. Competition .from Bradford was also keen. Wool suitable for America was sold at high prices. Continental purchasers took rho majority of the pieces and bellies. There was very good competition fiom France and New Zealand for lambs’ wool. Prices on the whole were well up to the level of dtewart Uawson s household furniture, etc. (Kiug’sway’s, Ltd.). FRIDAY. FRUIT EXPORT TRADE The Quality Jewellers, WELLINGTON. Town Hall, Featherston, 3 p.m.—Sale of freehold property, on account Supreme Court (Wright, Stephenson and Co., Ltd.). Dominion Farmers’ Institute, 2.30 p.m —Sale of residential property, sections, and business sites, on account Public Trustee (Longmore and Co.) Farm; Karori, 1.30 p.m.—Clearing sale of dairv herd, implements, etc. (N.Z.L. and M.A.). Feilding Stock Sale. Thp Farm, South Karori Rond. 1.30 p.m. —Clearing sale of stock (N.Z.L. and M.A.). Corner Aitken and Mulgrave Streets, 10.30 a.m.—Salo of building material, iron. etc. (C. W. Price and Co.). Dannevirke Stock Sale. the previous sales, especially for the Letter ijuality wools, of which large quantities were offered. Some of the fleeces showed seed, and some of the lambs’ wool was infected with smut. There was an absence of the usual generous quota of Poverty Bay and East Coast wools, only 2588 bales coming F.O.B. SALES QUESTION. Mr. A. McKee, of Nelson, has forwarc cd a petition representative of exportei of 150,060 cases, urging the Fruit Ex port Control Board to permit f.o.b. bust ness, for tho following among otbe FOR SALE GALVANISED CORRUGATED IRON GALVANISED PLAIN IRON from there. This is hold to be due to the policy of the northern growers this year of "shipping their wool direct to England. The demand throughout was consistent, and passings were estimated at not more than 5 per cent. When the sale was continued this morning, before a full bench, if progressed on much the same lines as last night, film French being particularly active. It is generally considered that the sale has maintained the last Napier sale rates, and showed an advance on Wanganui. The range of prices Is as follows:— Merino— d- (1 - Average up to 24} Corriedale— Super up to 24i Sou th down— Super 24 to 26 Average 21J to 23} Inferior 19 to 204 Fine halfbred— Super up to 251 Medium halfbred— Average 21} to 21} Coarse halfbred— Super 22J to 21 Average 19 to 22 Inferior 16J to 18J Fine crossbred— Super 21 to 234 Average IS to 204 Inferior 15 to 17 reasons:— 1. Ready money for those who ennno afford to wait a long period for a settle ment. 2. Surety of a satisfactory re turn without the risk of sea-carriage strikes, deterioration, or congested mat kets. 3. Saving in interest and cos of administration. 4. Reduction in th liability of the Government under th guarantee. 5. The development of f.o.b sales on a payable basis is and will Ik of particular benefit to the small grow ers, who cannot in many cases affori the risk of shipping on consignment 6. There being no compulsion, growers can accept or decline the f.o.b. offers as they think fit. They can always shi] ou consignment, as at present, if the, so wish. The petitioners refer to loss of busi ness to Otago growers who are not un der control. Mr. McKee informs the board that “keen disappointment is fell by petitioners at your board’s refusa' to sanction the execution of an order ALL SIZES. MONEY AND STOCKS. IN LOTS TO SUIT PURCHASERS. JOHN LYSAGHT, LIMITED, STORES: THORNDON QUAY, WELLINGTON. OFFICES: BALLANCE STREET, WELLINGTON. TAYMOCK. MACSHANE AND SCLANDDRS, Sharebrokers, Nathan’s Buildings, 13 Grey Street, Wellington, Members Wellington Stock Exchange. Telegrams: "Alarmion," Wellington. ' VVE have the following special sums ’ ’ for investment at 6 per cent, immediately: ..£3000, .£2500, .£1300, £1000, and .£1000. Applications may be made at any of our offices:— for 10.000 cases of third grade apples at 8s. per case f.o.b. spot cash—equivalent to over 14s. per case on the Home market. Many of the petitioners do pot share the view that the board wil average Us. per case for good grade, am' JOHNSTON. BlffERE, AND CO., Wellington, or FULLERTON-SMITH AND CO., are unable to understand why, in the absence of an adequate Government guarantee, they are compelled to turn Marton, Feilding, Palmerston North, Taihape, Raotihi, .and Taumarunui. Medium crossbred— Super 19 to 20} down an offer at a very remunerative figure in favour of the straight-out gamHi SK Average 16 to 18} Inferior 12 to 15J Coarse crossbred— Super 17 to 19J bling with their product on an uncertain market.’’’ DURST and Second Mortgage Arranged •*- on approved securities at short J £ £ & 0 notice. .A number of sums immediately available. Reliable advice on financial matters, free to clients. Average 16 to 17 Inferior 13J to 15 Low crossbred— Super up to 18 COMMERCIAL ITEMS I ESMOND GREIG, Average 15 to 161 & & Mortgage Broker, 25 Panama Street. Telephone 42—407. Inferior 13 to llj Hoggets— 50/5«’s up to 244 WELLINGTON STOCK EXCHANGE & % MORTGAGE FINANCE. 48/50’s 19 to 23} 46/48's IS to 22 44/46's 17 to 21 Lambs— 40/44's 15 to 18} 46/50's 18 to 26 Seedy and inferior ... 9-i to 17 Necks 15 to 24 Pieces— Good to super IS to 20} Low to medium 11 to 17} • c =£3000, £5000, £4500, £1500, £1800, £1200, £900, £700, and several larger and smaller sums awaiting investment at 6 per cent., 6} per cent., and 7 percent. on city and suburban first mortgage securities. Several sums of second mortgage YESTERDAY’S BUSINESS AND PRICES money available at 9 per cent. No charge unless loan arranged. All advice willingly and freely given. CHAS. B. BUXTON. .LTD., 164 Featherston St., Wellington. Phone 40—100. Seedy 5} to 12 Bellies— Good to super 14 to 15} Low to medium 12 to 13} Seedy 8 to 13} Crutchings— Good to super 13 to 15} Low to- medium 8 to 12} Seedy 6 to 8} Locks— Crossbred 7 to 9} Tho only sale reported on the Wellington Stock Exchange at yesterday afternoon’s call was National Bank of New Zealand at £6 10s. 3d. The latest quotations are as follow.— Buyers. Sellers. Jr • /y P PINCH, WEBSTER AND OSWIN, -*- Licensed Stock and Sharebrokers, Members of the Wellington Stock Exchange, 159 Featherston Street, Wellington, P.O. Box 682. Telegraph address, N.Z. GOVT. LOANS— £ s. d. £ s. d. 44 p.c. Ins. Stk., 1939 97 2 U — 44 n.c. ditto, 1938 ... 97 2 6 — 54 p.c. ditto, 1933 ... — 100 17 6 5} p.c. ditto, 1936 ... — 101 2 6 5} p.e. ditto, 1911 ... — 99 5 0 5} p.c. ditto, 1930 ... — 99 0 0 44 p.c. Bonds, 1041 ... 97 2 6 — 4} p.c. ditto, 1939 ... 97 2 ti — 44 p.e. ditto, 1038 ... 97 2 6 — “Cefinch,” Wellington. Telephone, 41— 818. PRODUCE MARKETS J 'aJ MONEY TO LEND /AN Household Furniture, Pianos, Life Insurance Policies, and on all other approved forms of Real and Personal Property. All advances made promptly. Note Address— THE LOAN SECURITY & DISCOUNT COMPANY, 13a King’s Chambers, Opp. Kodak Corner a CANTERBURY 5l p.c. ditto, 1933 ...100 10 0 — DEBENTURES— N.Z. Breweries (bonds) 13 0 — BANKS— National of N.Z 6 19 3 7 0 0 New Zealand 2 11) 1 2 19 6 Ditto “D” shares (pd.) 1 6 0 Union of Aust — 14 15 6 FINANCIAL— Gohlsbrough Mort ..2 8 9 — Abraham and Williams J J I 1 J $ By Telegraph.—Press association Christchurch, February 28. Except for a little inquiry from the North Island tor one or - two classes of seeds, the market for produce has been very quiet. The recent, rains in the north have prompted the little inquiry, but even this stimulant, has not developed the seed demand to anything like tho extent that is usual at this period of the year. The inquiry is mostly for perennial and Italian ryegrass, although the cheaper Southland perennial is proving more PAINT AND VARNISH MANUFACTURERS, WELLINGTON. «n<i at Auckland, Christchurch. AND DUNEDIN. MORMAN S. PERRY, STOCK AND SHAREBROKER, National Bank Building (Opp. G.P.O., Wellington). MEMBER WELLINGTON STOCK EXCHANGE. Cables & Telegrams: "ENNESPERRY.” (prof.) — A 7 6 Equitable Building .. — S 15 0 N.Z. Loan and Merc. (ord.) 06 10 0 — N.Z. and Biver Blate 17 7 — GAS— AVclllngton turd.) ..170 — Ditto (pref.) 0 16 4 — INSUItANCE— National — 0 13 9 New Zealand 2 0 6 — South British 2.IS 0 — MEAT PRESERVING— Gear — 1 H 9 N.Z. Refrigcrat. (£1) — 0 Hi 0 Ditto (10s.) — 0 7 10 Well. Meat Exp. (ord.) 0 0 6 — TRANSPORT— Union Steam (pref.).. 10 0 — Huddart-I’arker (ord.) (cum. div.) 2 8 0 2 10 0 Ditto (pref., cum. div.) 110 — P. and O. Def. stock— — 215 0 0 WOOLLEN— „ , „ Wellington (ord.) .... — 6 4 0 Ditto (pref.) 6 2 6 — DURST MORTGAGE-£30.C0o, £20.000, * £10.009, £5000, £1500, £1200, £1000, £900, £800, £750, £600, £500. at appealing to a section of northern buyers. Local perennial is selling at. 5s. 3d., f.o.b.. s.i. Italian is selling at 3s. 3d. to 3s. 6d. for machine dressed, f.o.b. s.i. Cocksfoot is being bought at 8:1. to 8}d. a lb. There is very little inquiry from the north, which market is apparently being supplied with carricd-over low grade Danish cocksfoot. At all events, no business can be done by merchants at more than 12d. for machine dressed. This figure, it is claimed, leaves a loss on dressing average 8d. seed. There is no change to report in the wheat position. Some sales have taken place at 5s. 8d.. f.o.b., merchants, or 5s. 5d. on trucks for Tuscan. Fowl wheat is quoted forward MarchJune at 5s. 7d. f.o.b. The oat market is stagnant, particularly the Algerian. There is no demand for this variety, of which merchants are holding fair quantities of clipped seed. 6 per cent., GJ per cent., and 7 per cent. SECOND MORTGAGES—Flat or repayment immediately available. Applications for loans taken and sound advice given free. OTHER LOANS—Money advanced on interest under Will, Bill Of Sale over Stock or Furniture, or by way of guarantee. A. W. GIBSON AND CO.. LTD., Second Floor, Routh's Buildings, Corner Featherston and Johnston Streets. Tel. 41-549. Tel. 41-549. TWO SPECIALS. FOR HEAT AND HOT WATER THE “IDEAL” VILLA. Something New in THE " IDEAI " VECTO. Heating, . THE "IDEAL" r COAD— Hikurangl (pref.) ... 0 7 0 — « & H jiaiftL * ILL- 1U. Specially designed West port-Stockton (ord.) 0 1 1 — • ——rSif tor Shops, Small HHrj Ofll ce9 and Homes. Attractive in upHowever, tittle is now being thrashed, growers preferring to stack in anticipation of something turning up. An Australian inquiry is hoped for in tionie Ditto (prof.) — 0 3 5 LIMBER— Lc.vland-O’Brien .... 1 14 6 — National — 6 12 6 MANAWATU LOAN AND DISCOUNT CO., LTD., K.WW pearanee. Splendid Palmerston North. quarters. Taupo Totnr.l — 0 13 0 BREWERIES— Till - 2 10 0 Ward and Co 1 15 3 — JTSCELLANEOUS— Howard Smith 18 3 — N Z. Fanners’ Fertiliser 4 0 0 — N.Z. Paper Mill; .... — 0170 Sharlnnd and Co. (ord.) — 1 0 G Taranaki Oil Fields .0 9 0 — j&gggMg results at small cost. THE LATEST for ft! Domestic II o t illsMMgjU Water Supply. fjSily) THE “IDEAL” ::::: 1 1 A/IONEA to Ixmd on Furniture, Live Stock, Motors, Life Insurance Policies, or any approved Security. Applications treated confidentially. Operating only in Manawatu, Levin, South■rn Rav Ire’s Bay Districts. Write to •Mannnpr.” Box 431. pain orstnn North AUCKLAND Dominion Special Service. Auckland, February 23. Potatoes have been coining forward fl VILLA. much more freely than was anticipated,

Brussels. bclgas to 35.04 35 .£1 53.01 Paris, francs to .£1 124 124 25.22J Stockholm, knr. to £1 18.18 18.17 18.12 Oslo, knr. to £1 ... 1’52 18.32 18.12 Copenhagen, knr. to £1 18.21 18.12 Berlin, Reichsmark to £1 20.42 20.44 20.43 Rome, lire to £1 ... 92.13 92.12 25.22J Calcutta, pence to rupee 18 18 18 1 okohama. pence to yen 23 1-16 23 3-32 24.43 Hong-Kong, pence to dollar 24 7-16 24$ 24 Montreal, dollars to £1 4.883 4.83 14-16 4.866 New York, dollars to £1 4.88 4.88 4.866 Amsterdam, florins to £1 12.123 12.128 12.107 Batavia, florins to £1 13.12J 12.12 12.107 Prague, knr. to Ail 164,1 IMS / -A.P.A. and ' ‘Sun."