U.S. FODDER SUPPLY.

Press, Volume LXVI, Issue 20027, 8 September 1930, Page 12

U.S. FODDER SUPPLY.

ACUTE SITUATION FEARED EFFECT OF DROUGHT. tCNITED J'RISS ASSOCIATION—BT BLICHHC TELEGRAPH—COPYRIGHT.} '.Received September 7th, 5.5 p.m.) WASHINGTON. September 6. An alarming shortage of feed grains and fodders, principally* maize, silage, and hay, resulting from the drought in 28 States, is disclosed in a special survey made' by the Department of Agriculture. The maiao crop reduction, which is estimated to be in the neighbourhood of 750,000,000 bushels, has so aggravated the situation that even the estimated wheat surplus of 336,000,000 bushels w:ll be insutiicient to offset the deficit in feed grains. Grain prices rose two cents to-day m Chicago. m Referring' to the survey, Mr A. M. Hvde, Secretary of Agriculture, said: •'jf we do not export a single pound of grain this year, we will hare a domestic use for every bit of grain tor feed that we will have." Dairy products and meats are expected to rise in price sharply this winter. . The survey 6hows that conditions have become more critical in the States first affected by the drought, and there has been an addition of new areas in the north and central States. Twenty-eight States shrw a reduction of from thirty to seventyfive ner cent, of their feed production, while feed stuff production for the notion is only seventy per cent, of a five-year average. DOMINION WOOLLENS. SUPERIORITY OF PRODUCT. "The world over, it is often the visitor and not the resident who most appreciates the scenery, the amenities of life,, the qualities of the people, and the benefits that every day holds for us all." Thus Mr Guyton Butler, a prominent English visitor and member of a well-known English firm, opened a conversation with the Goveinor-Gcneial, Lord Bledisloe, at Government House recently. "Life is, after all, a matter of contrasts and experiences," Mr Butler continued. "By the time a man is 50 ho has at least discovered what suits him best for most of his noeds. If he happens to be widely travelled ho must, of necessity, have acquired discrimination. It surprises us sometimes to learn that our daily opportunities are regarded as privileges by the passer-by. "On"arriving in Auckland last week, I walked into one of the big stores to buy some woollen underwear. Exhibited on the counter, with trade marks well in evidencoj'were the widely-advertised products of two of the leading English makers.' 'These,'* said'the shopman, 'arenas you know, about the best that ;yba .can.buy;' I replied, 'No, most emphaticjilly no. Over oleven years ago I/cisne ; ,here and bought a small supply. of woollen underwear of/ New Zealand manufacture. -It is still in'use and I ! have'never since been able to acquire anything to equal it for wearing qualities or for the bodily comfort its softness imparts. I -wear it with pleasure. It enhances my feoling of well-being. I like myself more be'eause it does not irritate my skin or trespass on my temper. At the moment, I am wearing an undergarment made by that famous English'firm whose goods you recommended, and I have promised myself the luxury of'.shedding it and starting to-morrow, soothed in body and in spirit, by the superlative luxury of your New Zealand woollens.' 'Mpor linen shirts I go to Belfast;, my preference is for Havana cigars; Bond street can supply all the ties a man can •desire, but, after visiting most of the producing countries of the world, I have yet to discover anywhere woollen goods .-that can begin to compare with the TSTew Zealand productions. My advice to your people and to your manufacturers is—feature and emphasise such things. Here you can beat the world. To buy woollen goods made anywhere but in New Zealand, is a serious reflection on your intelligence as good judges of good things. A BANKING PROJECT. SHAREHOLDERS' UNENVIABLE POSITION. „ A situation of considerable interest 'to investors has. developed with regard to the liabilities of the ordinary shareholders of the Mercantile Bank of Australia, Ltd., in compulsory liquidation (states the New Zealand Stock Exchange Gazette). Shares in this bank were offered to New Zealand investors at the time of flotation 18 months to two years ago and quite a number were taken urt in this country. When, after long delays, an attempt was made to start operations it was found that insufficient,, capital had been subscribed, and eventually, on the application of a shareholder, the company was forced to go.into'liquidation. ■ * • ' The process of liquidation has been slow, mainly because of the illness of tho liquidator, but reports from Sydney, where the head office of the company is situated, contain revelations with respect to the liabilities of ordinary shareholders. Although the shareholders did not have the satisfaction even of seeing the bank's doors opon, there is a prtesibilitv of their being asked to make up to, the extent of uncalled capital what preference shareholders have lost, in addition to prestniums already paid, and other expenses incurred by the directors. _ There are other propositions on tho New Zealand market at the moment that mav go the same way as the Mercantile Bank of Australia. In spite of every honesty of intention on the part of the promoters, delay in starting operations,"too little capital, and many other handicaps often rob new flotations of-all chance of success before they can actually make a start. BOMBAY COTTON MILLS. SCHEME FOR AMALGAMATION. (nsmSH OFFICIAL WIBK&ZSB.) RUGBY t September 5. 1 A scheme is being considered for the amalgamation of the principal cotton mills in Bombay, with ibe object of putting the industry- on a firm foundation; ;. ' An expert from Manchester is shortly going to India in this' connexion. Fifty jjiills are likely to be" included in the merger. '