FARM & COMMERCIAL

Dominion, Volume 21, Issue 130, 1 March 1928, Page 12

FARM & COMMERCIAL

NEWS AND NOTES

AUCTION SALES TO DAY. Rangitikei Street, Palmerston North, 2.30 p.m.—Sale of farm, near Shannon, on account Supreme Court ... (N.Z.L. and M.A.). ' The Terrace, r 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’swuy’s, Ltd.). TO-MORROW. 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 properly, sections, and business sites, on account Public Trustee (Lougmore and Co.). Farm, Karori, 1.30 p.m.—Clearing sale of dairy herd, implements, etc. (N.ZL. and M.A.). Feilding Stock Sale. The Farm, South Knrori Road. 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 materia), iron. etc. (C. W. Price and Co.). Danncvirke Stock Sale. St Wallace Street. 10.36 a.m.—Sale of household furniture, motor-car, etc. (E. Johnston and Co.).

Many of the streams in the Nelson district are dry. while several rivers ar? very low indeed (says the “Mail”). The" Nelson Acclimatisation Society rangers have been active during the dry spell in removing hundreds of trout into more congenial quarters. A large number taken from the Brook stream have been liberated in the Maitai. and many other fish from the Wai-iti River have been placed in the Wairoa River.

FARMING INTERESTS

SYDNEY WOOL SALES HARDENING TENDENCY Sydney, February 2fl. At the wool sales all the best features of recent auctions were sustained, superior qualities showing a further hardening tendency. Extreme prices were again realised for comebacks and crossbreds. Grciisy merino fleece touched 36£d. LIVE STOCK SALES ADDINGTON By Teleguaph.—Press association. Christchurch, February 29. Entries wore again heavy in - the store sheep section. North Islam! ewes numbering about 10,000 head. Nelson and Marlborough were also represented by substantial lines. There was an excellent fat lamb and fat sheep sale, but cattle were easier. Store Sheep.—Forward iambs sold keenly but backward showed its difference on last week. Some good lines ot young ewes were included in the North Island consignment. One draft of two tooths made 375. fid. A North Canterbury line of twotooth Halfbreds sold at -11/-. The older sheep witli any pretensions to mouths sold readily at hist week’s rates, the tendency being to harden. Good two-tooth Half bred ewes made up to 415., twotoothed Halfbred ewes 345. Id. to 3fis., good two-toothed Romney cross ewes 345. to 375. (id., ordinary two-toothed Romney cross ewes 28s. fid. to 325. (Id., small ami inferior two-toothed Romney cross owes 245. fid. to 285.. four, six, and eight-toothed Romney cross ewes 2(ls. fid. to 30s. fid., inferior 'and low conditioned four, six, and eight-toothed Crossbred ewes 19s, to 255., sound and failing mouthed Crossbred ewes 16s. till, to 18s. fid., sound and failing mouthed Halfbred ewes 18s. 9d. to 255., forward lambs, 21s. fid. to 245. 4d., forward Halfbred wether lambs 20s. to 225., medium Halfbred wether lambs 10s. to 18s., snmli and inferior lambs 13s. Cd. to 15s. fid., good forward four and six-toothed Halfbreil wethers 225. to 235. 7d., two-toothed Halfbred wethers 18s. to 19s. Od. Put Lambs.—Another small entry of 2700 head and a keen sale, schedule rates being exceeded. Extra prime made from 335. to 375. 10d., prime 295. fid. to 325. Od., medium 265. (Id. to 325. Oil., light 245. lid. to 2Cs. 3d., store 225. ltd. to 245. Od. Fat 6heep.—A rlightly under normal entry, and much improved sale good wethers being up on last week b.v 25., and ewes by is. 6d. to 2s. Values in many cases were over exporters’ rates. There was a complete clearance. Extra prime wethers made -p to 395. 4d., prim wethers 31s. to 345. fcd., medium wethers 28s. to 305.. light wethers 245. to 275. 6d.. extra prime ewes to 285.. prime ewes 21s. to 255.. medium ewes 18s. to 205.. light, ewes 16s. to 17=. 6d.. aged ewes 14s. to 15s. 6d. Fat Cattle.—A heavier entry, numbering 500 head of built cows. Good medium weight beef nearly maintained last week’s values, but heavy-weight and cow beef were 10s. to 20s. head easier. Best medium weight beef made from 355. 6d. to 38s. 6d. per 1001 b., medium 33s to 355., heavy 31s. to 33e., good cows 275. 6d. to 305.. medium 255. to 275.. and rough down to 225.; prime heavy steers £l7 7s. 6d.. prime medium weight steers £l3 to £lB. medium steers £ll to £l2 10s., light steers £7 15s. to £lO 155.; extra prime heifers to £l2 12s. 6d., prime heifers £9 15s. to £ll 10s., medium heifers £8 to .£9 10s.. light heifers £5 to £7. 155.; extra nrime cows to £l2 7s. 6d., prime cows £9 to £ll, medium cows £6 15s. to £8 15e., light cows £4 7s. 6d. to £6 12s. 6d. Vealers.—Good sorts met with a brisk demand Medium to good vealers made from £3 to £6, others 20s. to £4 sb. Dairy Cattle.—An excellent sale for coed sorts. Best second to fourth calvers made from £l4 to £l7, good sorts £9 to £l3 10s., medium £6 10s. to £8 10s.. best, heifers £8 to £l4 55., others £6 to £7 15s. Store Cattle.—A moderate sale. Three and four-vear steers made up to £0 ..os., yearling to £4 155., extra prime cows to •£A 7s. 6d„ others £2 to £5. bulls £4 to £B. Fat Pigs.—A small entry and a firmer sale. Baconers made from £2 12s. 6d. to £4 7s. 6d. (average per )b„ sd. to 61d.), porkers 40s. to 51s. (average per lb.. 6Jd. to 71d.1. Store Pigs.—A large entry of mediumsized sorts, a slight improvement being recorded in prices. Wenners sold from 6s. to 125.. small stores 14s. to 18s., large 19s. to 305.. extra large to 335. 6d.

JOHNSONVILLE Messrs. Wright, Stephenson and Co., Ltd., and Messrs. Abraham and Williams. Ltd., report on the Johnsonville sale held yesterday as follows Au average yarding of good quality sheep and cattle were submitted to a good attendance of butchers. Bidding throughout the sale was keen, ;ind prices showed an advance on last week's rates. Lamb sold particularly well. Quotationsßullocks. £ll, £ll 2s. 6d., £ll 55.. £ll 17s. 6d„ £l2. £l2 55.. £l2 7s. 6d., £l2 15s. to £l3; vealers, £2 ids., £2 155., £3 to £3 10s.; wethers. 265. 6d., 275., 275. 3d., to 27s 6d.; ewes, 195,, 19s. 6d. to 205.; lambs, 235., 235. 10d„ 245.. 245. 10U.. 255,. 265.. 275. 3d., 275. 6d„ 29s to 295. 3d. Messrs. Dalgety and Co., Ltd., report having held a successful clearing sale of sheep in their Upper Iluit yards on Tuesday on account of Mr. J. Maher. There was’a good attendance of buyers, and bidding' all .through was sound. The rains experienced lately have had tho effect, of giving the sheep market a much firmer tone, and buyers are now in a position to bid with more confidence. The whole yarding was cleared under keen competition, the following sales being effected: —6sO t and 5-year ewes, fair condition 20s Id. to 225. 6d.; small 2-tooth ewes, 21s. 2d.; lightweight fat wethers. 265.; fair black face lambs. 15s. to 15s. 3d.: medium w.f. lambs, 14s. 6<1.; lightweight fat lambs. 20s. to 21s. 6<1.; cull lambs. 9s. 6d. to 11s.; medium ewe lambs, 17s. to 18s.; medium 2 and 4-tooth wethers, 215.; 2-shcar S.D. ranis, Signs.

DAIRY PRODUCE LONDON MARKET FIRM. The Anglo-Continental Produce Co., Ltd., yesterday received the following cable message from their London office: Hut ter. 160 s. Io 1685.; cheese, 955.; market firm. Prices are expected to remain steady for the next two or three weeks; afterwards they will be largely dependent upon European supply. Fine weather is being experienced .and early European production is probable. Messrs. Joseph Nathan &• Co., Ltd., have received the following cab log ram from tiieir London House, dated February 28:— New Zealand butter 168 s. tn 170 s. per cwt., New Zealand cheese, BUS., tlrni. both short on spot.

COMMERCIAL ITEMS

WELLINGTON STOCK EXCHANGE YESTERDAY’S BUSINESS AND PRICES At the morning call on the Wellington Stock Exchange yesterday the sale was reported of 4i per eent. Inscribed Stuck (1938) at £97 55., and at the 12.15 p.m. call of Bauk of Australasia at £l5 Is.

SALES IN OTHER CENTRES By Teeeguaph.—PbesB association. Auckland, February 29. Sales. —War Loan. 1930, 4% per cent., CDS; Commercial Bank of Australia, 275. 9d.; Bank of New Zealand, 595.: Farmers’ Co-op. Auctioneering. A pref.. Ills.; Iflkurangl Coal, A pref., fis. (Id.: Auckland Gas, 225. 3d.; Taranaki Oil. 10s.; Tonson Garlick, Ils.; Lucky Shot (2s. paid), Od.; Walhi 10s. Christchurch, February 29. Sales.—Comm. Bank of Aust., 275. 9d. (2 pels.), 275. lOd. (4 pels.). 275. 1ld,: Aust. Bank of Commerce, 345.; English, Scottish, and Aust. Bank, £8 (2 pels.): Tooth’s Brewery. 40s. (Id.: Beatli and Co.. 335. Sales reported.—N.Z. Govt. uV. per cent, bonds. 1933. £lOO 10s.; Comm. Bank of Aust., 275. lOd.: English, Scottish and Aust. Bank. £8; Auckland Gas, 225, 3d. 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 any ether member of the Wellington Stock Exchange, from all of whom copies of the prospectus may also be obtained.—Advt. CAPITAL ISSUES The capital issues in the United Kingdom last year showed a substantial increase over the previous year. The total offerings for each of the past five years were as follow:— Year. £ 1927 355,165.970 ' 1926 230,782,601 1925 232.214,500 1924 209.326.100 1923 271,393,173 Most of last year’s capital issues were tor industrial ventures and give evidence of tho increasing confidence in the trade and finance of the country. Mr Philip Snowden, who was Chancellor of the Exchequer in the Labour Government, with; out going too cloel.v into Hie details of recent industrial history, reaches tne conclusion that the trade outlook now is certainly not less promising than at. tho beginning of 1927. Mr. Snowden errs on the side of caution. Without overlooking the black spots, it is believed that Britain will this year make a definite advance in the interchange of goods and a distinct forward move toward renewed prosperity. Some of the favourable factors cited by Mr. Snowden support an optimistic forecast for the .-urrent year. The improved relations Letwecn Capital and Labour are of great potential significance. BANK RATES The latest discount rates charged by the principal banks of the world are comparatively low. The highest rates arc charged by the banks at Athens and Sofia, where the rates are 10 per cmt. Lisbon, Renal, and Warsaw charge 8 per cent. The Berlin rate is 7 per cent., as is also that of Calcutta, Kovno, Rome, and Riga. Six per cent, is being charged in Belgrade, Bucharest, Budapest, Danzig, Helsingfors, and Pretoria, and 6) per cent, in Vienna. In Madrid the rate is 5 per cent., as also at Oslo. Prague, and Copenhagen, and 5.48 per cent, at Tokio. At Amsterdam and Brussels 41 per cent is charged, with 4 per cent, at Paris. The New York rate is also 4 per cent Stockholm and the Swiss Bauk charge 31 per cent., these being the lowest rates. The Bank of England rate is 4J per cent. The bank’s rate has to be maintained to protect the gold reserve. CUSTOMS REVENUE. The Customs revenue collected at the port of Wellington yesterday totalled' £17,588.

(cum. dividend). The latest quotations are as follow Buyers. Sellers. N.Z. GOVT. LOANS— it s. d. X s. d. 4 J p.e. Ins. Stk., 1931) 97 u 0 97 10 0 4» p.e. ditto, 193S ... 'J7 o 0 — 5j p.e. ditto, 1933 .. - 190 ,) 0 101 0 0 54 p.e. ditto, 1936 ... —— 101 — 6 54 p.e. ditto, 1941 ... 88 10 0 99 0 4* p.e. Bonds. 11)39 .. 97 i) 0 97 10 0 5| p.e. ditto, 1933 ... 100 10 0 — debentures— Wellington Gas ....100 0 0 —■ N.Z. Breweries (bonds) 1 o 0 1 4 0 Wanganui City, a} p.e. (1945) 100 0 0 — BANKS— Australasia (cum. div.) 14 19 0 —■ Commercial of Aust. 7 7 Commercial Banking Co. . of Sydney —— 5 0 National of N.Z 6 19 o 7 0 0 19 0 19 6 Ditto “D” shares (pd.) 1 6 0 — 14 15 G FINANCIAL— Abraham and Williams 4 7 6 Goldsbrough Mort .. 2 9 *» N.Z. Guarantee Corp. (ord., Ss.) — 0 9 0 1 0 r _ i N.Z. I.o'an and Merc. () 0 - N.Z. and River Plate 1 7 0 —- (j S 1 Wellington (ord.) .. 1 7 0 —• Ditto (pref.) 0 16 3 INSURANCE— - 0 15 9 0 6 South British 2 18 0 .VIE AT PRESERVING— 1 17 6 TRANSPORT— Huddart-Parker (ord.) (cum. div.) 2 8 6 2 10 0 P. and O. Def. stock— —— 245 0 0 WOOLLEN— Wellington' (pref.) .. 8 2 a — COAL— West port-Stockton (ord.) 0 1 1 Ditto (pref.) 0 3 a TIMBER— 0 12 4 0 12 6 BREWERIES— Staples and Co 1 18 9 1 17 9 MISCELLANEOUS— Britisli Tobacco (Aust.). (ord.) 1 19 s o 0 0 Burns, Philp, and Co. 2 0 Dental and Medical ■ 0 18 0 8 6 N.Z. Farmers’ Foro 3 — N.Z. Paper Milin .... — 0 17 0 Sharland and Co. (ord.) — 1 0 c Taranaki Oil Fields . 0 9 0 MINING— Mount Lvell 1 10 0 Waihi Grand Junction 0 1 0 —