FRUIT CANNING.

Press, Volume LXII, Issue 18723, 21 June 1926, Page 10

FRUIT CANNING.

ENLARGING "K» ' ENTERPRISE. SIR HENRY JONES'S PLANS. (rRESS ASSOCIATION TELEGBAU.).'■ KELSON, June 20. It is intention of .Henry .Jones Co-operative, Ltd., which has acquired the "K" factory, to extend the activities of the firm in various directions. "It is our purpose," said' Sir Henry Jones, "to supply New Zealand's total requirements in canned fruits. There should be no need to import canned fruit from other countries. The first thing to be done, however, is to develop the growing of fruit suitable for canning; We are establishing a demonstration orchard block to test out thoroughly the capabilities of the district .in this respect. This will prove whether or not the can grow fruit in sufficient quantities suitable for our requirements. New canning and saucemaking machinery' is already ordered, so it will not be long before a commencement is made. For a start we art prepared, to take all the canning pears grown in the district. We hope to hold the market against all imported canned fruits, and to make New Zealand in this respect self-supporting. Quite apart from.canning we are developing and increasing all the products of the 'K.' factory. . ' "An unusual position has arisen in regard to ■'over-production of raspberries this season. Fivo hundred tons xere produced, as compared, with a' hundred and fifty last year, M said Sir Henry. '' One grower, r whose'.' average crop for the prist five years was eight to nine tons, informed me that the production off, .the same acreage this year, was thirty, tons. Growers' say th at' the assistance and adyice given by the Cawthron Institute in regard to' -manuring! treatment, are ly' responsible for the increase. Similar increases have been recorded right through the district. Last month we exported a portion of the surplus to London —some 65 tons —to free the market. We .anticipate making'^'considerable loss on. the shipment. Next year we will make New Zealand's requirements in raspberry juice from Nelson raspberries,'instead of sending over Tasmaniair juice.' This will lielp : to absorb the> bigger crop." Further, Sir Henry detailed a,scheme he had evolved to assist: the, grower next year in dealing with jhis. surplus crop.' "We are .prepared to finance the export : olf -Surplus raspberries 'to the London market, in'the coming 1927 season up to £2O a ton. If the net.return shows .a'loss on this price, the firm will, stand itj' but any gain the grower' will receive. ' "For our own requirements we have under consideration a scheme to take the average of the paat five years' delivery, at fair factory price,, based on New Zealand values." Sir' Henry Jones has pffered further to assist employees of the "K." factory, most of whom are shareholders, owing to the late Mr S. Kirkpatrick having bequeathed a "large number of shares to Ms staff, according to years of service. PROTEST AGAINST COMPULSION. A letter has been sent by the Executive of the New" Zealand" Producers' Free Marketing League to the Prime Minister, 1 protesting against the Dairy Board's plan to bring compulsory absolute control into operation. The letter is a very long one, but attached to it are the following reasons (which practically are the ,■ subject, matter of the letter) which the League, offers in sup-, port of its request that the operation of the compulsory'clauses of the Dairy Produce Export Control' Act should be postponed:1, When the Bill was before Parliament the Prime Minister, the Minister f6r Agriculture, and other prominent members of the Hous,e of representatives gave assurances that "compulsion" would be brought into force only in case of urgent'necessity. 2. When the Bill was submitted for approval to & vote of the producers, j these assurances carried great weight and exercised a very big influence in determining the result of the referendum. . ~' 3..When the Bill was'passed by Parliament, and when it was submitted for approval to a vote of the producers, it was believed the Board would be, elected on the.basis of "single wards" and with "each producer having one vote. 4. It was -understood that in the event of a crisis or for any extraordinary reason it was''considered necessary to bring "Compulsion" into operation this would be done at the discretion of the Government. by Order-in-Conncil. 1 5. From an Imperial point of view, postponement should be arranged to enable Mr Coate's to investigate the position during his impending visit to London. Already there is very considerable anxiety as to the effect of "compulsion" upon the trading relations between the Dominion and the Mother Country. 6. That a large number of factories are exempt from "Compulsion" and therefore.are giyen preferential treatment over other factories. 7. In addition to the above main reasons, every constitutional doctrine and .practice requires that "Compulsion" ■be postponed pending the election of a 'Dairy Board truly representative of the interests concerned. MEAT PRODUCERS* BOARD. ELECTION OF PRODUCERS' REPRESENTATIVES. An advertisement appears in our advertising columns dealing with .the election fii two producers' representatives on the New Zealand Meat Producers' Board. The regulations under'which the election is conducted provide that the various districts shall elect twenty-five delegates, who will constitute an Electoral Committee, which will assemble in. August and elect the producers' representatives. The latest official sheep returns (which at' present are those at April 30th, 1925) shall be the electoral roll. Every - sheep-owner on this list having one hundred steep or over shall be entitled to vote for delegates to the Electoral Commijttee.. In accordance with the provisions of the Meat Export Control Act, the mem-, bers of the' Board who are to retire in August are Messrs T. A. Duncan (Hunterville), and Adam Hamilton (Invercargill). These jpnUemen offer themselves for reelection as producers' representatives on the Board.' ••■!■' wheAt. (Bf CABLB—PEBBS ABSOCIATIOS—(AUSTBALIiS AND N.Z. CABLE ASSOCIATION.) NEW TORE, June 18. Chicago wheat quotations are:—-July, 1411 cents a bushel; September, 136| cents; De<*mber, 138 cents.

; CHRISTCHURCH STOCK EXCHANGE. SATURDAY'S TRANSACTIONS. Sales reported:—P. and 0. Deferred Stock, £255; British Tobacco (cum div.), 52a 3d. Sales on 'Change:—Dalgety and Co. t £l6 Is; Goldsbrough, Mort (cum div.), 49s Gd; Christchurch Gas, 24s 3d (four parcels). ' _ , LATEST . QrOTATIONS. Buyers. Sellers, i: s. d. £ b. d:

FROZEN MEAT. Cut cati.k-Jt.ess association— copieioht.) (AUSTRALIAN AND *N.Z. CABLE ASSOCIATION.) (Received .Juno. 20th, 5.6 p.m.) . LONDON, June 19. Lambs—Canterbury, medium, 9£d others . selecteds,. light medium 9gd, Patagonian firsts Bjd. • '-.v. Frozen Beef—Australian hinds Bid per:lt>, chilled Argentine foree <tld, hinds TJd; other meats are unchanged. r LONDON MARKETS. (Eeceived Juna 20th,, 5.5 p.m.) LONDON, June 19. Cotton— July/ 9.03 d per lb. Rubber—Para, 191 d per lb; Plantation, and smoked, • 21d. ' • ' Jute— May-June, £4O 15a per ton; now crop, July-August, £34 10s. _ New Zealand Hemp—June-July, £36 per ton. CJopra—June-July, £25 12a 6d per ton. ' Linseed OU—£34 sa'per ton, equal to 2s 9d per gallon. ' • , • : Turpentine, 70s 6d per cwt, equal to 5s 4d per!gallon'. . ' COMMONWEALTH LOAN. LONDON, June 18. • It is understood that the issfte.of n Commonwealth loan of £6,000,000 is imminent.. SMITHFIELD PRICES. MEAT BOARD REPORT. The- New Zealand Meat Producers' Bwd has received the following cable from its London office dated June 18th, 1926, advising Smithfield delivered prices at that date as follows (prices for the two previous weeks are also shown): — June Juno June 18th. 11th. 4th (Per lb.) d. d. d.

jtsrozen veai •• « Lamb—Smithfleld consumption continues to show, good improvement oyer last year. Mutton —The market is firmer, and future prospects look brighter. Argentine Chilled Beef—Lighter arrivals are likely during 1 the nest few weeks, with' higher prices. Owing to the Continental embargo good prires are likely to rule for some time to come for veal and frozen pork, 80 to 1201b. Owing to. expected heavy bacon imports frozen pork, 120 to 180l'b, may not' show same advance., • . CLEARING SALES. Jones, McCrqstie Co., Ltd., report having held a successful clearing sale this, week on account of whom it may concern, of real Persian rugs, the whole of the line being sold at prices ranging from £3 to £11; also a quantity of. marabout furs, men's and boys' clothing. —9 H. 0. Smith, of the City Market, conducted a clearing ; sale on account of the District Publio Trustee, in the estate of the late Mr W. L. Buckingham, Northcote road. The following prices were obtained: Jersey cow, springing, 16gns, do. 15gns, Jersey cow in profit l'4Jgns, Jersey cow in profit 14gns, heifer in profit lOgns, black cow in. profit 14Jgns, heifer in profit 9gns, heifer in profit BJgns, 2 store pigs £3, hay in shed £l9, Ford car £2O, separator £5, bicycle £3 ss, 6 pair henß 395, chaff £S 13s 6d, milk cans 365. The dairy herd.avenged £l3 7t per luaA, „jjj

WHEAT CARGOES. (Received June 20th, 11.25 p.m.) .... . LONDON, June 20 % Wheat cargoes are steady on cabled, advice of the firmness of the closing American market rates, and continued Continental demands. Shipments are heavy, but a large proportion is again being taken by the Continent. Parcels are in quiet request, with an advance of 3d. Liverpool futures axe:—July, lis BJd; October, 10s Bjd; December, 10s 6Jd. GORDON AND GOTCH (AUSTRALASIA), LTD. Gordon and Gotch (Australasia), Ltd., in its half-yearly report covering the period ended March 81st, shows a.profit, after provid-' ing for income-tax, of £39,918, compared with £38,209 the previous half-year, and £46,215 the corresponding half-year of 1924-25. A divi-' dend of 8 per cant, per annum on preference shares absorbs £4OOO, of 8 per cent, per annum on ordinary shares £16,00 d, a sum of £19,000 is .carried to reserve, and £9lB is carried forward, against"£72s brought into the account. A comparison of accounts follows: •Half-rear ended ■ March 31 Sept. 30 Mar. SI 1925. 1925. 1926. £:£ . £ Profit ... 46,215 38,209 89,192 Div. pref., 8 p.c. p.a. 4,000 ' 4,000 4,000 Div. ord. 8 p.c. p.a. 16,000 16,000 16,000 To reserves .. 26,500 19.0Q0 Forward .. • 516 725 918 LIABILITIES— Capital. .. Ordinary .. 400,000 400,000 495,726 Preference .. 100,000' 100,000 100,000 Eeserve general .. 65,714* 92,233* 106,303 Reserve for conting's. Reserve for taxation • 19,973 • 24,233 27,821 Mortgage .. 28,500 27,500 27,000 Creditors .. 122,385 'Bank •"' .. 184,149 141,478 50,152 ASSETS— Freehold ' ' •*. 12.0,189 129,558 132,500 Leasehold ». 25,749 . 26,084 25,916 . Plants, et« .. " 45,974 • 47,315 45,479 Stocks ' .. 315,802 350,905 312,763 Debtors • i. : 329,131 370,399 352,378 Cash items. ..■ 11,894 1.3,550 15,857 Investments .. 1,992 ,1,992 .1,992 Goodwill ..118,074 118,074 118,074 i- *Property and other reserves.' The fall in the bank advance takes place co-incidentally with the increase of capital. With a fall in stocks, debtors are also dpwa substantial!!.

■\mFINANCE AND COMMERCE. ; CHRISTCHURCH STOCK EXCHANGE. SATURDAY'S TRANSACTIONS. Sales reported:—P. and O. Deferred Stock, £255; British Tobacco (cum div.), 52s 3d. Sales on 'Change:—Dalgety and Co., £16 la; Goldsbrough, Mort (cum div.), 49s Gd; Christchurch Gas, 24s 3d (four parcels). ' LATEST . QUOTATIONS. Buyers. Sellers. £ s. d. £ e. d: N.Z. GOVT. DEBENTURES4J per cent. Bonds, 1930 '.. .. 97 5 0 — 5 per cent. Bonds, 1927 ..' .. 98 10 0 — bi per cent. Inscribed, 1933 .. .. 99 10 0 — . Si per cent. Bonds, 1933 .. .. 93 12 6 99 15 0 COMPANY DEBENTURES— N.Z. Breweries Bonds 16 3 16 6 BANKS— Australasia 14 4 6 14 7 6 Co mm. of Aust. J. 11 0 — Comm. of AuEt. (pref.) 6 15 0 7 0 0 E., S., and A. .. 8 0 0 8 2 0 National of Australasia (£a paid) .. 8 18 0 -8 10 6 National of N.Z (cum div.) .. •. — 7 0,0 New South Wales .. 45 0 0 45 ■ 5 0 New Zealand (ex div.) 3 0 9 3 2 0 l'oyal (£4 paid) .. 7 0 0 — Union of Aust.' ./ 15 5 0 15 6 6 Victoria (ord.) .. 8 15 0 - —. "Western Australian .. 2 17 3 2 17 6 IXSUUANCE— • National .. .* 3 19. 0 3 19 ■ 6 New Zealand ■.. 2 0 3 —■ . ( South British 2 19 0 3 0 6 Standard .. 3 0 0 309 LOAN AND AGENCY— Dalgety and Co. .. 1 0 16 2 0 Goldsbrough, Mort (cum div.) .. 2 9 6 2 9. 8 National Mortgage .. — 3 17 0 N.Z. Loan and Mercantile ord. stock, ex div.) .. .. 90 0 0 — N:Z; • and'River Plate. .12 6 — , SHIPPING— Hovpirdi Smith. .. 1 13 6 — Huddart-Parker .. 2 4 6 2 5 0 P. and O. Deferred .. 247 10 0 259 0 0 FROZEN-MEAT— . . Canterbury (pref.) .. 5.0 0 — N.Z. Refrig. (paid) .. — 0 17 9 N.Z. Refrig. (contr.) .. 0 8 2 0 8 3 WOOLLENS— , , Kaiapoi (17a paid) 0 14 0 • . —• Kaiapoi (7s paid) .. 0 4 3 0 4 9 COAL- ' , „ Westport , •• , 1 16 6 , 1 16 9 Stockton (ord.) 0 1- 3 — Stockton (pref.) ' ' ~, 0 2 6 0 4 6 GAS— Ashburton .. ' 4 8 0 4 15 0 'Christchurch 1431 4 4 BREWERIES- ■ ■ Manning .< .. 1 19 3.2® ? Ne\V Zealand ». — . 2 19 6 Staples .. ... 1 18 6 1 19 5 CEMENTS- ✓ "Wilson's' -E — • — 1 14 • 9 TIMBER— Kauri •• —: 1 12 9 MISCELLANEOUS— Beath and Co. .. . 1 11 6 1 12 6 British Tobacco (ord. cum'div.) " .. 2 12 2 2 12 6 Burns, -Philp 1 16 6 1 16 9 Colonial Sugar ... 54 2 6 — Dominion Rubber • • 2 10 0 — Donaghy's Rope' and Twine — J- JjJ ®. Electro. Zinc. (pr«f.) .. 1 15 11 1 16 0 ' Electro. Zinc, ord.) ;. 1 16 0 — 'Henry Jones Co-op. 2 6: 6 2 7 ; , 0 .Hume Pipe (Aust.) .. .0 16 7 0 11 3 Mason, Strutters (14b 'trnidV •' ..'' •• 0 15: 0 — • N Zl Drug .. •• 3 10.0 3 109 N.Z. Drug (new, fully ■ paid) .. •• 3 3 6 3 7 6 N.Z. Farmers' Co-op. (1st pref.)- .. 2 13 ,0 8 0 0 N.Z. Farmers' Co-op. ., ' (pref. ra div. only) 1.15 0 . 2 5 ® N.Z.' Guarantee Corpn. 0 9 10 0 10 S N.Z/Malay Rubber 2 3 6 - 2 10 0 ' ■Whitcombe 1 and Tomb« 8 8 6 — MINING- • * - 8 Kawarau •• - ® jj , e o Mt.. Lyell (cum div.) .1. 6 5 1 6. 9 waihi • r-- . ? Grand Junction 0 1 ® FROZEN MEAT. Cut OAri.r-Pr.Bss association—cornuoHT.) (AUSTRALIAN AKD CABLB ASSOCIATION.) (Received .Juno. 20th, 5.6 p.m.) . LONDON, June 19. Lambs— Canterbury, medium, 9£d others . gelecteds,. light medium 9gd, Patagonian firsts 8jd. • '-,v. Frozen Beef—Australian htnds Bid per:lt>, chilled Argentine foree 41d, hinds 7Jd; other meats are unchanged. r LONDON MARKETS. (Received June 20th,, 5.5 p.m.) LONDON, June 19. Cotton—July/ 9.03d per lb. Rubber—Para, 191d per lb; Plantation, and smoked, • 21d. ' • ' Jute—May-June, £40 15a per ton; now. crop, July-August, £34 10s. _ New Zealand Hemp—June-July, £36 per ton. CJopra—June-July, £25 12a 63 per ton. ' Linseed OU—£34 5a'per ton, equal to 2s 9d per gallon. ' V , : . Turpentine, 70s 6d per owt, equal to 5s 4d per!gallon'. . . ' COMMONWEALTH LOAN. LONDON, June 18. • It is understood that the issde.of n Commonwealth loan of £6,000,000 is imminent.. SMITHFIELD PRICES. MEAT BOARD REPORT. The- New Zealand Meat Producers' Board has received the following cable from its London office dated June 18th, 1926, advising Smithfield delivered prices at that date as follows (prices for the two previous weeks are also shown): — Jupe Juno June 18th. 11th. 4th (Per lb.) d. d. d. N.Z. Wethers, and- MaidenB— Canterbury quality, selected brands: 561b and under . ..6} 6} 6J ' 57 to 641b .. - 6 6 5J 65 to 721b .. 5i 61 5J Other brands:. 561b and under *. 6i 6J- 6 57 to 64lb ' .. ». 5J 5J • 5£ 65 to 721b .. « 5 , 5 5 N.Z. Ewes— 641b and under ». 4i 4J 4J N.Z. LambCanterbury quality: .-■ 36lb and under 101 10J" 10J 37 to 421b ' .. ... 92 91 9# i 43 to 501b 94 9J 91 Seconds « »- 92 9J 9J Seleoted brands: 361b and under ..10 10 101 37 to 421b .. -.93 92 92 Other brands, 1st quality: 421b ancl under .. , 9i 9J 9i Seconds .. •• 91 91 ®1 N.Z. Beef- ' ' , Ox fores .. ~ 3J 3J SJ Ox hinds .. •». 52 5J 51 Argentine Chilled BeefOx fores .. 4J 4i 4 Ox hinds •*> «. 72 6J. Frozen Pork— 80 to 1201b .. 104 10| «94 ' 120 to 1801b ... .. 101 10J ,;91 BRITAIN'S TRADE. effect of strike. N.Z., BUTTER TOPS MARKET. (pr r/.BLS —rBZSS A8SOOIATIOK —COPiatlHT:) .-(AUSTRALIAN 'AWD JT-2. CABINS. ASSOCIATION.) (Ke<jeired June 2&tb, 5.5 p.m.) . , LONDON, June 19. Despite the prolongation of the coal dispute and the absence of any signs of an early settlement, the Stock Exchange maintains a confident feeling, and firmness characterises most sections, even Home railway stocks, whose dividends may be affected, show only small declines in values and all giltedgeds are firmer. Notwithstanding the. competition of new issues there have been severa trustee stocks issued during the past fortnight, all of which were rapidly over-snbscribed. Their success may be regarded as an indication that t«6re is plenty, of money available for investmerit 'purposes. Prospects are, there-' for©, hopeful for the Commonwealth loan, which is expected early next week. Nothing is ascertainable regarding* the price, but, as recent New Zealand and Victorian fives, which were issued at' 98i per cent., now stand at premiums two and one-sixteenth. and five-eighths ■ respectively, the Stock Exchange would not be surprised to see the Commonwealth price at 99 per cent. Apple Trade. ; Considering the heavy arrivals of apples from Australia and New ; Zealand during the past three weeks, trade has been fairly satisfactory. Prices have not given way ta the extent some people anticipated,. this, being largely due to the cold, rainy weather checking the growth of strawberries and. other small fruits, and the partial prohibition .- against imported ? French cherries. .Owing to.the prevalence or maggots of the cherry fruit fly, the Ministry of Agriculture forbids the importation of all cherries unaccompanied bv 'an official 'certificate that they come from non-infected districts. Several recent Australian steamers brought a considerable. numbefi .of/wasty./ apples, which are only saleable at low prices, but good hard apples continue to meet vitli a satisfactory demand. . 1 Buttei* Market. The feature of the butter market during the week has, been Danish selling the same price as Australian .and two shillings to four shillings below New' Zealand. This is one of the effects - of. ■the coal "Strike, and , the._ conseqxn u, trade depression of the .Midlands .end the north of England, which , is the' principal market for' Danish production, which is now very large.i Ger-, many is now taking practically no Dan-, ish butter, so the whole of, the export is ,being sent to Britain: The. low price df Danish-' 1 butter : quitlcly 'attracted buyers, and much was, bought, for storage,, with the result that,.the „ price recovered to 176s and 178s, which,is about on a parity with New Zealand, Australian being 172s to 176s. Wine Imports. . The general strike had an appreciable effect on our wine imports. Numerous Continental ...shippers, fearing that the strike ;ifljght last a long time, reduced the amount of th'eir exports to Britain. Others stopped shipments altogether, with; the the total, imports in. Way'. were only 983,<JOO. gallons, a decline of 390,OpO, compared with" May, 1925. Australia, on-the other hand, showed a satisfactory a increase, the month's imports amounting ta: 77,995 gallons, {compared 'with 84",500 last year. BtetER^ JDOES IB DETERIORATE ? EVIDENCE TO CONTRARY* (fTBGUt TO XES MOSS.). / AUCKLAND, June 20.. T1id question of whether New 'Zea--hind butter deteriorates jvhile in store has never been - definitely determined, bat some interesting evidence has come jfco light. Some London 'importers have Complained of staleness' and during the past season some discrimination in prices was made between stored and freshly-landed butter* According to, reports received by some Auckland merchants, it was stated that the style* ness of stored butter was appjeciable at, least to experts. Evidence to $i» opposite effect , has now ; become available. It has been the custom of. the Northern Cooperative Dairy Company, oJE, „3>argaville, to include- with, ,ieach riia^e-of'butter a card addressed: "To our customers," Particulars are asii-a regarding the date on which the butter was opened, ita condition,, the firm from which purchased, And the price paid. Ileplies have; been received from all parts of England, Wales, Scotland, and Ireland, ana even the Isle of Man. The remarks on quality are usually in such brief forms as "excellent," "tip-top,' "very good," and "first-class." In the case of one card, the butter to which it related had been packed in Dargaville on October' 24tn, I925j being a superfine sample with 92J points. The; butter was ipened, in England on May 5th, and the'quality waa described as w ex<^entj , . , TOe i company's point is; that this butter .'had been in store either in New Zealand, or shipbound, or in London, for over six months, and yet it opened up in excellent condition. Several other cards returned show fairly long storage periods, arid' in all cases the 'purchasers' remarks were highly laudatory. It may be objected that the experience • quoted not 1 a fair average, as the Northern Wairoa 'Company's output: is of very high grade, and therefore not so subject to deterioration as others. All butter sent away by this company was pafcted in Swedish w>xes, FRUIT CANNING. ENLARGING "K" ' ENTERPRISE. SIR HENRY JONES'S PLANS. (rRESS ASSOCIATION TELEGHAU.) NELSON, June 20. It is 'the intention of .Henry .Jones Co-operative, Ltd., which has acquired the "K" factory, to extend the activities of the firm in various directions. "It is our purpose," s&id Sir Henry Jones, "to supply New Zealand's total requirements in canned fruits. There sjiould be no need to import canned fruit from other countries. The first tiling to be done, however, is to develop the growing of fruit suitable for canning; We are establishing a demonstration orchard block to test out thoroughly the capabilities of the district . in this respect. This will prove whether or not the djstrtft can grow fruit in sufficient quantities suitable for our requirements. New canning and saucemaking machinery' is already ordered, so it will not be long before a commencement is made. For a start we art prepared, to take all the canning pears grown in the district. We hope to hold the market against all imported canned fruits, and to make New Zealand in this respect self-supporting. Quite apart from , canning we are developing and increasing all the products of the 'K.' factory. . ' "An unusual position lias arisen in regard to ''over-production of raspberries this season. Fivo hundred tons '.vere produced, as compared, with a' hundred and fifty last year/' said Sir Henry. '' One grower, r whose-' average crop for the prist five years was eight to nine tons, informed me that the production off, ( the same acreage this year, was thirty, tons. Growers' say th at' the assistance and adyice given by the Cawtliron Institute in regafd to' -manuring! treatment , arely responsible for the increase. Similar increases have been recorded right through the district. Last month we exported a portion of the surplus to London —some 65 tons —to free the market. We .anticipate makings considerable loss on. the shipment. Next year we will make New Zealand's requirements in raspberry juice from Nelson raspberries,'instead of sending over Tasmaniair juice.' This will help' to absorb the> bigger crop." . Further, Sir Henry detailed a,scheme he had evolved to assist: the, grower next year in dealing with jhis. surplus crop. 1 "We are .prepared to finance the export : o!f -Surplus raspberries 'to the inirket in'the coming 1927 season up to £20 a ton. If the net. re turn shows a- loss on this price, the firm will stand it,' but any gain the grower' will receive. ' "For our own requirements we have under Consideration a scheme to take the average of the past five years' delivery, at fair factory price, based on New Zealand values." Sir' Henry Jones has pffered further to assist employees of the "K." factory, most of whom are shareholders, owing to the late Mr S. Kirkpatrick having bequeathed a "large number of shares to his staff, according to years of service. CO^ROLrr PROTEST AGAINST COMPULSION. A letter has been sent by the Executive of the New* Zealand" Producers' Free Marketing League to the Prime Minister, 1 protesting against the Dairy Board's plan to bring compulsory absolute control into operation. The letter is a very long one, but attached to it are the following reasons (which practically are the subject,, matter of the letter) which the League, offers in support of its request that the operation of the compulsory clauses of the Dairy Produce Export Control' Act should be postponed:—■ 1, When the Bill was before Parliament the Prime Minister, the Minister f6r Agriculture, and other prominent members of the House of Bepresenta* tives gave assurances that "compulsion" would be brought into force only in case of urgent'necessity. 2. When the Bill was submitted for approval to *a vote of the producers, these assurances carried great weight and exercised a very big influence in determining the result of the referendum. 3,. When the Bill was' passed by Parliament, and when it was submitted for approval to a vote of the producers, it was believed the Board would be, elected on the.basis of "single wards" and witlTeach producer having one vote. 4. It was -understood that in the event of a crisis or for any extraordinary reason it was -considered necessary to bring "Compulsion" into operation this would be done at the discretion of the Government. by Order-in-Council. 1 5. From an Imperial point of view, postponement should be arranged to enable Mr Coate's to investigate the position during his impending visit to London. Already there is very considerable anxiety as to the effect of "compulsion" upon the trading relations between the Dominion and the Mother Country. 6. That a large number of factories are exempt from "Compulsion" and therefore.are giyen preferential treatment over other factories. 7. In addition to the above main reasons, every constitutional doctrine and .practice requires that "Compulsion" be postponed pending the election of a 'Dairy Board truly representative of the interests concerned. MEAT PRODUCERS' BOARD. ELECTION OF PRODUCERS' REPRESENTATIVES.

* FINANCE AND COMMERCE. ; CHRISTCHURCH STOCK EXCHANGE. SATURDAY'S TRANSACTIONS. Sales reported:—P. and 0. Deferred Stoc £255; British Tobacco (cum div.), 52s 3d. Sales on 'Change:—Dalgety and Co., £ la; Goldsbrough, Mort (cum div.), 49s (k Christchurch Gas, 24s 3d (four parcels). LATEST . QUOTATIONS. Buyers. Seller £ s. d. £ 6. N.Z. GOVT. DEBENTURES4J per cent. Bonds, 1930 '.. .. 97 5 0 — 5 per cent. Bonds, 1927 ..' .. 98 10 0 — bi per cent. Inscribed, 1933 .. .. 99 10 0 — Si per cent. Bonds, 1933 .. .. 93 12 6 99 15 COMPANY DEBENTURES— N.Z. Breweries Bonds 16 3 16 BANKS— Australasia .. 11 4 G 14 7 Co mm. of Aust. J. 11 0 — Comm. of AuEt. (pref.) 6 15 0 7 0 E., S., and A. .. 8 0 0 8 2 National of Australasia (£a paid) .. 8 18 0 -8 10 National of N.Z (cum div.) .. .. — 7 0 New South Wales .. 45 0 0 45-5 New Zealand (ex div.) 3 0 9 3 2 Royal (£4 paid) .. 7 0 0 — Union of Aust.' .. 15 5 O 15 6 Victoria (ord.) .. 8 15 0 - —. Western Australian .. 2 17 3 2 17 IXSUKANCK— National .. 3 19 0 3 19 New Zealand ■.. 2 0 3 — South British .. 2 19 0 3 0 Standard .. • ■ 3 0 0 3 0 LOAN AND AGENCY— Dalgety and Co. .. 1 0 16 2 Goldsbrough, Mort (cum div.) .. ..2 9 6 2 9. National Mortgage .. — 3 17 N.Z. Loan and Mercantile ord. stock, ex div.) .. .. 90 0 0 — N:Z; • and'River Plate, .1 2 6 — SHIPPING— Hovpirdi Smith. .. 1 13 6 — Huddart-Parker .. 2 4 6 2 5 P. and O. Deferred .. 247 10 0 259 0 FROZEN-MEAT— . . Canterbury (pref.) .. 5.0 0 — N.Z. Refrig. (paid) .. — 0 17 N.Z. Refrig. (contr.) 0 8 2 0 8 WOOLLENS— , , Kaiapoi (17a paid) 0 14 0 • . —• Kaiapoi (7s paid) .. 0 13 0 4 COAL- ' Westport •• . * .16- 6 ,. 1 IS Stockton (ord.) —. 0 1- 3 — Stockton (pref.) .« 0 2 6 0 4 GAS- , , r Ashburton .. ' — 4 8 0 4 15 'Christchurch 1431 4 BREWERIESManning .< .. 1 19 3.2® Ne\V Zealand ». — . 2 19 Staples .. ... 1 18 6 1 19 CEMENTS- _ / "Wilson's' -E — • — 1 14 TIMBER— Kauri •• —: 1 12 9 MISCELLANEOUS— Beath and Co. .. . 1 11 6 1 12 British Tobacco (ord. cum'div.) " .. 2 12 2 2 12 Burns, -Philp 1 16 6 1 16 Colonial Sugar ... 54 2 6 — Dominion Rubber • • 2 10 0 — Donaghy's Rope' and Twine — J- J? Electro. Zinc. (pr«f.) .. 1 15 11 1 16 ' Electro. Zinc, ord.) ;. 1 16 0 — 'Henry Jones Co-op. 2 6: 6 2 7„ .Hume Pipe (Aust.) .. .0 16 7 0 17 Mason, Strutters (14b 'naidV ■ ' .. •• 0 15' 0 — • N.zf Drug ,. •• 3 10 .0 3 10 N.Z. Drug (new, fully paid) .. •• 3 3 6 3 7 N.Z. Farmers' Co-op. (1st pref.)- ., 2 13 ,0 8 0 N.Z. Farmers' Co-op. ., ' (pref. ra dir. only) 1.15 0 .25 N.Z.' Guarantee'Corpn. 0 9 10 0 10 N.Z/Malay Riibber 2 3 6 - 2 10 ' ■Whitcombe 1 and Tombs 8 8 6 — MINING- • * - Kawarau • • - ® ® , ft Mt.. Lyell (cum div.) 16 5 * Grand Junction 0 1 ® V 1 BRITAIN'S TRADE. effect of strike. N.Z.,BUTTER TOPS MARKET. (pr r/.BLS —rBZSS A8SOOIATIOK —COPiatlHT:) .-(AUSTRALIAN 'AWD JT-2. CABINS. ASSOCIATION.) (■Received June 2&th, 5.5 p.m.) . , LONDON, June 19. Despite the prolongation of the coal dispute and the absence of any signs of an early settlement, the Stock Exchange maintains a confident feeling, and firmness characterises most sections, even Home railway stocks, whose dividends may be affected, show only small declines in values and all giltedgeds are firmer. Notwithstanding the. competition of new issues there have been severa trustee stocks issued during the past fortnight, all of which were rapidly over-snbscribed. Their success may be regarded as an indication that t«6re is plenty, of money available for investmerit 'purposes. Prospects are, there-' for©, hopeful for the Commonwealth loan, which is expected early next week. Nothing is ascertainable regarding* the price, but, as recent New Zealand and Victorian fives, which were issued at' 98i per cent., now stand at premiums two and one-sixteenth. and five-eighths ■ respectively, the Stock Exchange would not be surprised to see the Commonwealth price at 99 per cent. Apple Trade. ; Considering the heavy arrivals of apples from Australia and New ; Zealand during the past three weeks, trade has been fairly satisfactory. Prices have not given way ta the extent some people anticipated,. this, being largely due to the cold, rainy weather checking the growth of strawberries andother small fruits, and the partial prohibition .- against imported ? French cherries. .Owing to.the prevalence or maggots of the cherry fruit fly, the Ministry of Agriculture forbids the importation of all cherries unaccompanied hv 'an official 'certificate that they come from non-infected districts. Several recent Australian steamers brought a considerable. number! .of/wasty./ apples, which are only saleable at low prices, but good hard apples continue to meet vitli a satisfactory demand. . 1 Buttei* Market. The feature of the butter market during the week has, been Danish selling the same price as Australian .and two shillings to four shillings below New' Zealand. This is one of the effects - of. ■the coal "Strike, and , the._ conseqxn u, trade depression of the .Midlands .end the north of England, which , is the' principal market for' Danish production, which is now very large.i Ger-, many is now taking practically no Dan-, ish butter, so the whole of, the export is ,being sent to Britain: The. low price df Danish-' 1 butter : quitlcly 'attracted buyers, and much was, bought, for storage,, with the result that,.the „ price recovered to 176s and 178s, which,is about on a parity with New Zealand, Australian being 172s to 176s. Wine Imports. . FRUIT CANNING. ENLARGING "K" ' ENTERPRISE. SIR HENRY JONES'S PLANS. (rRESS ASSOCIATION TELEGHAU.) KELSON, June 20. It is 'the intention • of Henry .Jones Co-operative, Ltd., which has acquired the "K" factory, to extend the activities of the firm in various directions. "It is our purpose," s&id Sir Henry Jones, "to supply New Zealand's total requirements in canned fruits. There should be no need to import canned fruit from other countries. The first tiling to be done, however, is to develop the growing of fruit suitable for canning; We are establishing a demonstration orchard block to test out thoroughly the capabilities of the district . in this respect. This will prove whether or not the djstrtft can grow fruit in sufficient quantities suitable for our requirements. New canning and saucemaking machinery' is already ordered, so it will not be long before a commencement is made. For a start we art prepared, to take all the canning pears grown in the district. We hope to hold the market against all imported canned fruits, and to make New Zealand in this respect self-supporting. Quite apart from , canning we are developing and increasing all the products of the 'K.' factory. . ' "An unusual position has arisen in regard to over-production of raspberries this season. Fivo hundred tons '-vCre produced, as compared, with a' hundred and fifty last year/' said Sir Henry. '' One grower, r whose-' average crop for the prist five years was eight to nine tons, informed me that the production ofi, ( the same acreage this year, was thirty, tons. Growers' say th at' the assistance and adyice given by the Cawtliron Institute in regard to' -manuring! treatment-, are-large-ly responsible for the increase. Similar increases have been recorded right through the district. Last month we exported a portion of the surplus to London —some 65 tons —to free the market. We .anticipate makings considerable loss on. the shipment. Next year we will make New Zealand's requirements in raspberry juice from Nelson raspberries,'instead of sending over Tasmania)! juice.' This will help' to absorb the> bigger crop." . Further, Sir Henry detailed a,scheme he had evolved to assist: the, grower next year in dealing with jhis. surplus crop. 1 "We are .prepared to finance the export : o!f -Surplus raspberries 'to the 'London inirket in'the coming 1927 season up to £20 a ton. If the net. re turn shows a - loss on this price, the firm will stand it,' but any gain the grower' will receive. ' "For our own requirements we have under Consideration a scheme to take 'the average of the past five years' delivery, at fair factory price, based on New Zealand values." Sir' Henry Jones has pffered further to assist employees of the "K." factory, most of whom are shareholders, owing to the late Mr S. Kirkpatrick having bek, 16 1; >s. d: 0 6 6 0 0 6 0 0 0 6 6 6 '6' 9 0 8 0 0 0 9 3 9 9 6 0 4 0 6 5 9 6 6 9 6 0 0 3 9 6 0 0 3 0 3 9 0 6