FARMERS' UNION.

Press, Volume LXIII, Issue 19064, 28 July 1927, Page 10

FARMERS' UNION.

CONFERENCE RESOLUTIONS.

[TBI PBEBS Special Service.]

WELLINGTON, July 27.

The report of the Produce Commute© was considered by to-day's meeting of the Farmers' Union.

"That the Government' be approached with a view to compelling New Zealand butchers to label as such, frozen meat offered by them for sale," was the first remit passed, the view being expressed that the consumer should be protected. I The Government was aaked to pass legislation that produce requiring cool storage from New Zealand for export j should pass through the New Zealand cool stores in London when_ such are established. This, it was pointed out, a subject which would be discussed with Mr Amery when he arrives in TCew Zttlsnd* That the method of elections and appointments of both Meat and Dairy Boards be revised by Parliament so as to eliminate all commercial interests, and that the Government be asked to provide legislation to divide the Dominion into districts so that the producer* themselves directly elect representative* on the Meat Board, weie two remits, both of which were lost. OIL COMPANIES AT WAR DEALINGS WITH SOVIETS. {»! CABLE—PRESS ASSOCIATION—COPTBIOHT.) (AUSTRALIAN AND V.Z. CABLE ABSOCIATIOX.J NEW YORK, July 26. Tho warfare which has developed among the world's large oil companies over the question of dealing with the Soviets was intensified when Sir Henri Deterding, managing director of the Royal Dutch and Shell group, issued a statement through their New _ York representative, attacking the policy of th® Standard Oil Company, of New York, and the Vacuum Oil Company, which have contracts under which they purchase oil from Russia. The Standard Oil Company, of New . Jersey, recently announced that it would not deal with the Soviets, and the Boval Dutch and Shell Companies had agreed to the joint policy of not dealing with Russia until oil owners were compensated. Sir Henri Deterding declared that the purchase of Russian oil by American companies was not only contrary to the beat interests of humanity and trade honesty, but also was bcamd to lead to the replacement of American oil, or which there was at present large overWalter Teagle, president of the Standard Oil Company, of New Jersey has sailed for Europe to persuade Sir Henri Deterding to abandon any plans for retaliation, which ( it is believed might mean the invasion of American territory. QUEENSLAND LOANS. PREMIER'S NEGOTIATIONS. (M CABLE—N«S» ASSOCIATION—COPTRIOHT.) (ACITEALIA* AND *.B. CABLE ASSOCIATION.) VANCOUVER, July 26. The Premier of Queensland, MrMoCormack, will sail homeward on Thuraday. He says that he has successfully arranged for large loans for Queens'*He believes that all Australian borrowing in the future will be done on the loan commission plan, as competition is eliminated and better terms are obtainable. STORAGE OF APPLES. (»f CABLE—PRESS ASSOCIATION—COPTRIOHT) (AmmuLU* akd x.i cablb association.) LONDON, July 26. Cold store managers state, that they were not approached to emulate New Zealand's plan of keeping; apples in cold store at Southampton taJl the end of the season when tne market was better. GENERAL MOTORS. (8* CABLE- -PRESS ASSOCIATION- -COPTBIGHT). (tUBTBALIAX A?tl> K.Z. CABLE ASSOCIATION.) NEW YORK, July 26. General Motors Corporation has reported that its net earnings for the first sis months of 1927 were 129,2(50,207 dollars, which was an increase of more than 27,500,000 dollars I over the same period in 1926, constituting a record. Sales to dealers and to users were, also records. . LOANS FOR FRUIT-PRESERVING.. [THE PBESB Special Service.] • WELLINGTON, July 27. No money was received from, the Stato Advances Office, under the fruit-preserving industry account, wiring the last financial year. The amount outstanding in respect of I ®d- ' ranees at March 31st last was He arrears' due- wero: —Marlborough Fruit Packing and Preserving Co., Blenheim, £1325; Nelson Co-operative Fruit Co., £858; Apsey and Co., Hastings, £l5O. AUSTRALIAN DAIRY BOARD. 4 REDUCED LEVY. (it CABLE—PBESS ASSOCTATIOITr-COPTBIGHT) (AUSTRALIAN AND K.Z. CABTJ3 ASSOCIATION.) (Received Juiy 27th, 8.10 p.m.) SYDNEY, July 26. The Dairy Produce Control Board has decided to reduce by 25 m.3r cent, the levy paid by exporters on. export hatter. . i ! A recommendation will be made to , the Minister for Markets to amend the regulations so as to reduce the levy mder the Dairy Control Act on butter j rom 1-I6d per pound to l-20d, and i ->n cheese from l-38d per pound to 140 d. AUSTRALIAN INDUSTRY. (ATSTBALIAH AND K.Z. CABLE ASSOCUTIOIf.) NEW YORK, July 26. Sir H. G. Pratten, Commonwealth Minister for before leaving for Australia, said in an interview that he was confident that his meetings with industrialists would lead to the investment of £5,000,000 in branch' factories. Artificial silk alone would involve an expenditure of £1,000,000. Other industries were tinplate and the Manufacture of floor coverings. . ■ TALLOW. - Company have received the " ■ from London:—.'The i TCIIOa 1 "wilj b* resumed io-morrow/' 4

" CHEQUELETS M CASE. QUESTION OF STAMP DUTIES. (British «mcuL wibelzss.) RUGBY, July 26. Judgment was given to-day by. Mr Justice Rowlett in the test case regarding "chequelets" recently issued by the Midland Bank. These chequelets did not bear the twopenny stamp .required for cheques, and were intended to be used by clients for payment of amounts below £2. The bank contended that they were only receipts for amounts below £2, and that they were not liable to stamp duty, inasmuch as ordinary receipts for amounts below that do not incur stamp ever sunbmitted that these documents were' a bill of exchange requiring the The Judge decided in favour of the Inland Revenue authorities. The chequelets had been withdrawn by the Midland Bank pending the hearing of the test case, and in view of the Court's decision their further use, of course, is impossible. PORK INDUSTRY. IMPORTANT MEETING OF FARMERS. (press association telegram.) PALMERSTON NORTH, July 27. The most important meeting that has yet been held to discuss the pork industry of the Dominion took place in Palmerston North to-day, when farreachiug decisions were arnv d a . Delegates came from all over the Wortii Island, as far north as Whangareiand VVairoa, from Waikato, Hawkes Bay, Rangitikei, and Manawatu. Apologies were received from the Wairarapa represientatives. . Consideration was given to the question of a Government subsidy to set the industry on a proper footing, to the formation of a scheme similar to the Paterson scheme operating in Australia, and finally the formation of a federation to encourage the production and exportation of pork and bacon by dairyfarmers, and to endeavour to stabilise prices. It was decided to wait upon the Government as a deputation m an endeavour to secure a subsidy of £4U,UuU on pigs exported through co-operative channels that did not realise at least s}d per lb; also that the Paterson scheme bo gone on with. Speakers severely criticised the inaction of the Meat Board in not looking after the pork interests. The meeting decided to form a New Zealand Dairy-Farmers' Pig Federation, the objects, being t<? encourage production and stabilise prices. HUGE LOSSES. SOVIET CONFISCATES COMPANY'S PROPERTY. (BY rinT.i-.TMag ifIfiOCUTIOS—COWW6HT.) (AUSTRALIA]* ARB K.Z. CAB&X A.S3OCIATIOK.) (Received July 26th, 7.35 p.m.) LONDON, July 26. Mr Justice' Eve, in Chancery Court, granted an order for a reduction of the capital of the Russo-Asiatic Consolidated Company from £12,000,000 to £4,500,000. , , Counsel stated that tlie loss or £7,500,000 was due to the confiscation of property by the Russian Government. The shareholders were all fcngexplained that M. Krassin agreed-in 1922 to. a provisional arrangement giving the company £z,UuU,000 compensation and also _ returning the property, but the Soviet refused ratification. Since 1922 the Company s sole'asset had consisted of this shadowy i Mr'justice Eve: You seem still to value itl , , . Counsel" replied that the directors desired to keep the question open. wheat. A SENSATIONAL RISE. (AUBTEALIA.N AND N.Z. CABLE ASSOCIATION.) VANCOUVER, July 26. | At Winnipeg wheat closed if cents 1 to 2$ cents above yesterday's levels, following op sensational reports of the continued oppressive heat, which had ' aggravated the spreading of the rust menace. All months finished at only a fraction below the day's highest levels. (BT CABLE—PBESS ASSOCIATION —COPYRIGHT). (AUSTRALIAN AND N.Z. AND ,SUN CABLE.) LONDON, July 26. Wheat cargoes are dull an the absence of •buying. support. .Quotations, have declined threepence and parcels have dropped simiQuotations are: Liverpool futures, July, 10s Hid per cental; October, 10s 11!<1; December, 10» Hid; March, 10a lid; May, 10s 9Jd. (AUSTRALIAN AND N.Z. CABLE ASSOCIATION.) NEW YORK, July 26. Chicago wheat are: July, ft2J cents a bushel; September, 140 cents; Decomber, 1435 cents. BURNSIDE MARKET. I (press association telegram.) DUNEDIN, July 27. There were small yardings all round at feurnside to-day, but prices in some classes showed an improvement. Fat Cattle —There was a small yarding Of fat cattle, including a proportion of fine heavy-weight bullocks. These showed no advancement ota last week's rates, but the values were maintained for good quality cows and ' heifers which improved fully 15s a head. Prices: —Prime heavy-weight bullocks' £l7 to £2O, prime £l3 to £ls, light and medium I £lO to £l2 10s, prime heavy-weight cows and ! heifers to £ll, light and medium £7 to £8 108, extra heavy ox bee! 38s per 3.001b, light prime 40s r prime heifer 37s 6d, light heifers ; and cows 25s to 32s 6d. i Store Cattle —A small yarding with no i grown steers. Good-conditioned cows were about 10s a head dearer than last week. Other clases were about on a par with the previous SB pat Sheep—Another small yarding with a fair' proportion of prime heavy-weight ewes and wethers. All good quality sheep were up fully 2s at the commencement of the sale, but eased off to last week's rates towards the close. Prices:—Best heavy-weight wethers to 58s 6d, medium 38s to 445, light and unfinished 28s to 32s 6d, prime, heavy ewes to 49s 6d, prime 35s to 40s, medium 28s to 325, extra heavy wethers 6Jd per pound, light prime 7id, prime ewes 6d, light and aged sd, lambs 8d to 9d. Lambs —Only a few pens were offering, ana these sold at the prices given last week. Pigs—a fair yarding, but prices receded fully 5b a head. EGG SALES. The Canterbury Co-op. Poultry Producers, Ltd., report 'that their weekly sale of eggs was held yesterday. The egg market was well supplied and the supply exceeded the demand. Prices again dropped this week, bringing our prices down to: First I grade hen eggs 2s Id, second grade Is lid. I < —9