FARMING AND COMMERCIAL

Manawatu Standard, Volume LIII, Issue 19, 19 December 1932, Page 5

FARMING AND COMMERCIAL

FROZEN MEAT. LAMB QUIET AND UNCHANGED. With the exception of second quality, ■which is slightly weaker, tho lamb market is quiet and unchanged, according to advice received at the week-end by the New Zealand Meat Producers’ Boa-rd. A small shipment of the new season’s lamb ex the Port Gisborne is Belling slowly, 361 b. and under bringing Bid' per lb., and 371 b to 42ib. 7£d. ex hooks. The wether mutton market is very firm, owing to tho light spot stocks. The owe mutton . market is steady, and meeting with a fair demand. The beef market is steady, with a fair demand. New Zealand porker pigs are meeting with good inquiry at better prices. Prices for baconer pigs are nominal. The Meat Producers’ Board has received a cable mossage from its London oflico, advising that the following are the approximate average prices realised for the week ended December 16, based on actual transactions of wholesale quantities of the descriptions of meat mentioned, and are for representative parcels of tho goods offering during" the week, being for business done on the basis of delivered to Smithfield market and/or ex London stores (prices for the two previous weeks being shown in parentheses) : New Zealand Sheep.—Canterbury and North Island selected crossbred wetuers and maiden ewes: 481 b to 561 b., 4j,d (4id, 4id); 571 b to 641 b, 4£d (4 3-Bd, 4 3-8 d); 651 bto 721 b, 4£d (4 3-Bd, 4 3-8 d). North Island crossbred wothers and maiden ewes : 48lb to ,561 b, 4 3-8 d (4 3-8 d 4 3-8 d): 571 bto 641 b., 4s 3-8 d(4 3-Bd, 4 3-8 d); 651 bto 721 b., 4 3-8 d(4 3-Bd, 4 3-8 d). Ewes: 481 b and under, 3 3-4 d(3 3-4 d, 3 3-4 d); 481 bto 641 b. 3£d (3 1-8. (3 l-Bd, 3 1-Sd); 651 bto 721 b, 3d (3d, 3d). New Zealand Lambs— Canterbury : 361 b and under, not quoted ; 371 b to 421 b, 5 3-4 d (5 3-4 d, 5 3-4 d); 431 b to 501 b., s£d (sid s£d); second quality, average 301 b., s£d (5 3-8 d sid). Other South Island brands, 361 b and under, 7d (7d. 7d); 371 bto 421 b, 5 5-8 d(5 3-4 d, 5 3-4 d); 431 bto 50ib. not quoted (s£d, s£d). Selectod North Island brands, including Downs : 361 b and under, 371 b to 421 b., and 431 b to 501 b., not quoted; second quality, average 301 b. not quoted (not quoted, s£d). Other North Island brands, first quality: 361 b and under and 371 b to 421 b not quoted: second quality, average 301 b. 5d (sgd sid). Australian Lambs (new season s).— V ictorian, first quality' 361 b and under, 6£d (6jd, 6 3-8 d); 371 b to 421 b. s£d (s£d, s£d). Argentine Lamb. —First quality (new season’s) ; 361 b and under, 5 5-8 d (5 3-4 d, 6d); 371 bto 421 b, 5d (5 l-Bd, 5 l-8d). New Zealand Beef. —Ox fores, 23-4 d (23-4 d. 27-8 d); hinds, 3 3-4 d(3 3-4 d, 3 7-8 d)• cow fores and hinds, not quoted. Argentine Chilled Beef. —Ox fores, 3£d (3 7-Bd. 3 3-4 d); hinds, 6d (6d, 5 3-4 d). Australian Frozen Beef.—Ox crops, over 1001 b, 3id (3id, 3£d); hinds, over 1601 b., 3 7-8 d (4d. 4id). , New Zealand Prime Porker Pigs: 601 b to lOOib 6£d (6d, 5 3-4 d); 1011 bto 1201 b, 5 5-8 d (5 5-Bd, s£d). New Zealand baconer pigs: 1211 b to 1801 b, 5d (sd, sd). New Zealand Frozen Veal: Not quoted. OTHER REPORTS. LONDON. Dec. 17. Argentine Lambs.—First quality, 361 b and under, 5 5-8 d; ditto, 37/421b, sd. Australian Frozen Beef. —Ox hinds, under 1601 b. 3 3-4 d ; ditto, ox hinds over 160 lb 3 7-Bdt Australian Pigs.—First quality 60/1101b average 901 b 6£d; others unchanged. The Bank of New Zealand’s produce department, has received the following advice from its London office as at close of business last week: —The market is firmer for heavyweight wethers; lightweights remain steady. The demand for oivcs is steady. The market for lambs is quiet and unchanged. There is a moderate demand for beef. Wethers, light; 4 3-8 d to to 4 5-8 d per lb; heavy, 3 5-8 d to 4 3-8 d; ewes, 24d to 3 5-8 d; lambs, 2s, 6 3-4 d to 7d; B’s, 5 l-8d to 5 5-8 d; 4’s, 5 l-8d to 5 3-8 d; seconds, 5d to 5Jd. Beef : Ox hinds, 3'3-8d to 3 7-8 d; fores, 2£d to 3d : cow hinds, 23-4 dto 3d; fores, 2 1-od to 2 3-Bd. . , , Levin and. Co., Ltd., have received the following cable from their London agents, dated December 16 : —Compared with last week’s cabled advices, frozen meat quotations are unaltered, but there is a weakening tendency in tho market, especially for lambs.

EXPORT HONEY MARKET. Of the London honey market tho Bank of New Zealand’s produce circular, dated London, October 31, says:—Sales of packed lines of New Zealand, honey show a further increase, but demand for bulk is very quiet. Prices range from 55s to 85s per cwt. As regards the market for honey in general there is a hardening of prices, although no definito upward move has yet taken place. Supplies from most countries are likely to be below normal, except in the case of Denmark and Sweden, which have had abnormal production, and this will probably render these countries self-supporting this winter.

The possibility of building a £2,000,000 airport for Transatlantic services is being investigated by British engineers at Galway.

DAIRY PRODUCE. LONDON MARKETS. Tho London butter market closod on Friday at the low level of 83s for New Zealand finest, and 81s for first grade, a decrease of one shilling a cwt on the pricos ruling a week previously. These prices represent approximately B£d a lb f.o.b. The general . price at which New Zealand butter is being retailed is lid por lb, although in some cases it is selling at lOd. The Dairy Produce Board reports that somo substantis! sales of butter ex the Opawa were made on Friday night at 84s. . . , Tho rotail prico of Danish is unchanged at Is 2d. The Empire Marketing Board estimates tho stocks of all butters in England to total 476,654 boxos, as compared with 389,409 boxes this time last year. The cheese market is slow, pricos having declined during tho week. The ruling prico of whito New Zealand cheese is 51s to 535, as compared with 58s to 59s a week previously. Coloured is quoted at 54s to 555, as against 59s to 60s. The curront quotation for choesc equals approximately s£d per lb, f.o.b. llie rottfil prico for New Zealand chccso is 9d. The Dairy Board’s London oflico reports Friday’s quotations, with thoso for tho previous week in parentheses, as follow: BUTTER. New Zealand.—Salted, 81s to 83s (82s to 84s; Dec. 16, 1931, 97s to 100 s) ; unsalted 90s to 94s (96s to 98s; Doe. 16, 1931, 112 s to 118 s). Deliveries, New Zealand 2664 tons; in store, 6568 tons (includes 4462 tons ex Port Gisborno and Opawa). Australian. —Salted, 81s to 83s (81s to 84s) ; unsalted, 84s to 88s (85s to 88s). Deliveries, Australian, 1738 tons; in store, 1975 tons. Market steadier. Argentine.—Unsaltcd, 82s, 86s, to 88? (84s to 86s). Market slow. Danish. —F.0.b., 102 s (102 s); spot, 124 s (122 sto 1245). Market steady. Dutch. —Unsaltcd, 122 s to 124 s (124 s to 1265). CHEESE. Now Zealand. —Whito, 51s to 53s (58s to 595; Dec. 16, 1931, 56s to 5Ss) ; coloured, 54s to 555, ex 56s (59s to 60s; Dec. 16 1931, 56s to 575). Deliveries, New Zealand, 23,325 crates; in store, 34,000 crates (includes 2000 crates in Opawa). South African.—Whito and coloured, 525. Canadian.—White, 60s to 68s; coloured, 68s (62s to 68s). Deliveries, Canadian, 14.500 boxes; in store, 158,570 boxes. English.—Finest farmers’, 98s to 105 s. (98s to 105 s). AGENTS’ REPORTS. Tho Now Zealand Co-operative Marketing Association’s weekly cabled market report from London, dated December 16, is as follows:—Butter: The market is steady, with more inquiry. New Zealand, finest,’B2s to 83s; first grade, 81s to 82s; Danish, 1245. Cheese: The market is quiet; New Zealand, white, 49s to 50s; coloured, 535. Mr Thomas Gray (Wellington) has received the following report from London:— Cheese: Deliveries, New Zealand and Australian, 23,563 crates; Canadian, 14,961 boxes. Stock, New Zealand and Australian, 34,099 crates; Canadian, 161,034 boxes. Price, white, 50s; coloured, 525. Tho demand for choose is slow, and the market weak. Butter: First grade is selling at 81s to 82s, and finest at 82s to 83s. Tho dmand for butter has improved, and tho market is firm. PAYMENTS IN NORTH. AUCKLAND, Dec. 18. For November supply the New Zealand Co-operative Dairy Company, Ltd., is advancing 7jd per lb for finest quality butterfat for butter-making, and 9d per lb for checso-making, and the premium payable to milk powder and casein suppliers will bo the samo as in the previous month. Mr C. J. Parlane, general manager of tho company, stated that the prico was tho lowest paid by tho company since tho ’nineties, and owing to the large shipments which are due to arrivo in England from Australia and New Zealand during tho next few months it is possible that tho bottom has not yet been reached. "Wo fully appreciate the difficult, position in which suppliers are placed, and desire to render every assistance,” said Mr Parlane. “Owing to tho uncertainty. of tho forward position, however, our directors believe that advances should bo at a level that will precludo tho possibility of either reclamation, or the necessity for reducing advances during tho later months of the season to a very low figure indeed in order to balance accounts; The cheese market is in a slightly healthier condition.

STUD BULLS. SHIPMENTS TO AUSTRALIA. Tlie steamer Port Huon, which left London on December 13, is taking to Australia 29 stud bulls, of which seven are Jerseys, ten Red Polls, three Herefords, three Guernseys and six Shorthorns. Tho Commonwealth veterinary officer (Mr Ileywood) describes some of the young cattle in this shipment as being unsurpassed by any previously sent. Despite the high exchange and other costs, altogether 39 stud cattle will have been exported to Australia this year.

FARMING NEWS.

RURAL RATING. The first Dunedin wool sale of the season will open to-morrow with 23,801 bales. There ‘is much attractive wool in store this season, the Otago clip having opened up unusually well (states a Press Asociation telegram). The Cambridge Dairy Company will pay out on tho 20th a total cheque of £22,232 for November supply on the basis of 7d per lb of butterfat for butter and lOd for cheese, as compared with lOd and lid respectively for November of last season, when the cheque was £25,046. Eor tho season to the end of November tho company has paid out a total of £78,276, as compared with £83,040 for the same period of last season.

Haymaking is proceeding apace over the countryside in the Pukekoho district at present. .Although the rainfall has been lighter than usual during the spring, it has been sufficient to promote a good growth of grass, and consequently heavy crops are being harvested. In addition, many dairy farmers this season havo made ensilage. A few days ago a Waikato Independent representative saw a motor car put to a novel purpose. On a farm at Pukekura tho owner of the car took it down the paddocks and stopped alongside a rabbit warren, obviously of considerable extent. The outlots of tho warren were all blocked up and down tho entrance was placed a long pipe attached by a rubber fitting at the other end to the exhaust of the car. The engine of the car was then started up, and the fumos wore forced down the warren. The farmor claims that this novel method of poisoning is most effective. TRADE WITH JAPAN. BALANCE AGAINST DOMINION. At a meeting of the Council of the Auckland Chamber of Commerce, when the question of imports from Japan was under discussion, the secretary, Dr. E. P. Neale, supplied tho following figures regarding trade with that country: Exports to Imports from

Four Bradford boys who have been pupils at Brudford Grammar School and are now about to enter the university spent their holidays this summer in antiquarian research. They made a thorough examination of the Old Manor House at Esholt, in the West Riding, and it is believed they have discovered traces of the foundation of an old 12th-century nunnery.

WELLINGTON STOCK EXCHANGE

LAST WEEK’S BUSINESS AND PRICES. Extreme dullness characterised the Dominion stock and share market last week. Sellers predominated in the quotations list, but buyers were very cautious and hesitant, and the recorded business on all exchanges was of small dimensions and well below the average. There was a poor demand for shares, which in most cases were inclined to weakness. The most 'notable feature of the week was a revival in the inquiry for Government securities and city municipal debentures. For the former there were very few sellers, and the recorded turnover was small. It was noticeable, however, that investors were inclined to strengthen their bids above the low prices ruling during the last two or three weeks. The 5£ per cents., February and September, 1937. had three sales only at £9B, an advance of 10s on the previous week. There was a deal in per cent, stock, 1933, at £IOO 10s. The 4£ per cents., 1938, wore traded at £92 17s 6d up to £93 7s 6d the latter price being below .the level of the previous week. City 5£ per cent, debentures came in for attention in the latter part of the week, but quoted prices did not attract sellers. Auckland City and Auckland Harbour Board 51 per cents, had sales at £9B 10s. Auckland Gas, 6| per cents., 1935, were traded at £9B. Gisborne Sheepfarmers 6£ per cents., 1941, at £73. and Now Zealand Farmers* Co-operative Association 4$ per cents., 1940, at £46. Banks were a very quiet market, in which New Zealands accounted for most of the business. Following payment of the interim dividend ot Is 3d a share, they sold at 425, but weakened during 'the week to 40s 3d. lhe announcements of a much reduced interim dividend caused National of New Zca.anc to ease sharply. These shares are well held however, and few sales were recorded at 67s 6d, 655, and 66s 6d. The only other trading in banks was a sale of Commercial of Australia preference at £7 Is. and two deals in the ordinaries at 13s od and 13s 7d. Very little business was done in other shares. Goldsbrough, Morts had sales at 20s 6d‘ and 20s 9d. New Zealand Insurance were lightly traded at 41&. Union Steam preference firmed to sates at 20s 9d. Auckland Gas were done at 21s Od and 21s, and the contributin'; at 15s od. Wellington Gas had a sale at 295. in breweries. New Zealands were done at 20s sd, and Tooth’s at 295. Now Zea and Refrigerating, 10s paid, were a shade fiirner or sales at 3s to 3s 2d. Colonial Sugais eased to a sale at £46, Farmers’ Fertiliser sold at 14s. New Zealand Paper Mills at 20s 7i<l,- Traders’ Finance preference at 14s 6d and Wool worths (New Zea.and) preference at 23s 6d. Goldmining shares were rather loss active. Recorded wore: Blackwater, cum div., 21s 6d; Alexander, 20s; Okaritos, 8s 2d to 7s lid ; King Solomon, 2s sd, 2s 4d; Waihis, 18s 8d to 18s lOd; Nokomais, 5s lid to 6s Id. Golden Dawn, 4s 8d to ss; Waitahu. 8d to Bid premium; Gillespie’s Beach. 3d premium: Kawaran, 5d and 6d; Paddy a Point. 5s Id; Kildare, Is 9 5 d; Mount David', 3s 6d; Golden Sands, 2s Mahakipawa 3d; and Golden Point. 2id. Mount Dye 11s sold at 18s 4d to 18s fed, cum dividend. SATURDAY’S QUOTATIONS. Buying and selling quotations at Saturday morning’s call on the Wellington Stock Exchange were as follow: — Uiiupi-5 Sellers.

Japan. Jajgnn. £ 1927 252,000 592,000 1928 658,000 576.000 1929 429,000 626,000 1930 155,000 565,000 1931 268,000 304.0C0 1932 (9 m’thsj 221,000 373,000

Buyers. £ eilc rs. d. N.Z. GOVT LOANS— d. 6. 4i p.c. Bonds, 1939 . . 93 0 — 44 P.c. ditto, 193d 93 0 0 — 54 p.c. ditto, Lob, 193Y 98 Id 0 — bit p.c. ditto, Sep, 1937 99 0 0 — 54 p.c. ditto, lyov 44 p.c. Stock, 1939 95 5 0 — 0 93 0 0 93 1U 44 p.c. ditto, 1938 93 0 0 — bo p.c. ditto, bob, 1937 99 0 0 — 54 p.c. ditto, Sop, 1937 99 2 6 — 54 p.c. ditto, 1937 5 p.c. ditto, tax free, 95 10 0 0 1937 96 15 — DBENTURKS — A tick City, 54 p.c., 1944 96 10 0 Chch. City, 54 p.c., 0 1944 96 10 Dunedin City, 54 p.c., 1944 Well. City, 54 p.c., 97 0 0 - 97 0 0 1940 Palmerston N., 6 p.c.. 99 0 6 AJakerua Drainage, 6 p.c., IQ 94 0 0 Christchurch Drainage, 97 10 0 51 p.c., 1965 — Waitomo E.F. Ud., t> p.c., 99 0 0 1961 — Wanganui City/ 53 p.c. 1944 98 0 0 Ditto, 53 p.c. 1943 ... 99 — 0 97 10 0 Wellington Gas Co. ... 5 95 Well. Racing Club ... BANKS— 0 8 5 8 1Y 6 National of N.Z. ...... National of Australasia, *3 8 0 £10 paid 10 5 0 27 — 0 New South Wales — 0 0 New Zealand 2 3 2 1 6 Union of Aust FINANCIAL — 7 2 0 6 0 Equitable Building ... N.Z. Invest., Mort. 4 0 0 0 and Deposit — 8 N.Z. Loan and Merc. — 51 Well. Invest., T. & A. — 0 7 0 Well. Trust and Loan — 4 1Y 6 Well. Dep. and Mort. GAS— 0 Y 0 0 W'cllington, ord — 1 1U Ditto, prof. to 18 0 INSURANCE— 0 0 0 Aust. Prov. Assce. ... 5 6 9 U 14 3 South British 2 12 0 — MEAT PRESERVINGc 1 7 N.Z. Ref rig., £1 paid 0 9 6 — WOOLLEN— Wellington, ord — 5 6 TIMBER— — 0 10 0 Leyland-O’Brien — 0 19 0 National - — 0 BREWERIES— Staples and Co MISCELLANEOUS— — 1 3 0 British Tobacco, ord. 1 7 0 0 Burns, Philp — 0 2 4 Dominion Investments 1 1 — 0 0 0 Howard Smith, ord. — 0 1U National Electric — u 0 3 0 Farmers’ Fertiliser ... — 0 14 0 Well. Queen’s Theatre Wilson’s Cement — 1 l — O' Woolworths, prof 1 8 1 8 6 OIL— 0 Moturoa, ord — MINING— 0 0 Consol. Goldfields — 0 19 Big River *Cum. dividend. +Ex — 0 dividend. i 1