BRITISH FARMING INCOME

Press, Volume LXXXIV, Issue 25552, 21 July 1948, Page 6

BRITISH FARMING INCOME

REDUCTION SHOWN IN PROFITS •'(Special Correspondent N.Z.P.A.) LONDON, July 20. A fall in the profits of all types of British farms during 1946-47 is indicated in the farm accounts scheme conducted by the National Farmers’ Union. The fall is greatest in mainly livestock and mixed arable types, and smallest in the mixed dairying group. The steepest decMne was on larger farms. , xt . The wet summer of 1946 and the high cost of harvesting combined to depress arable profits. Losses early in 1947 reduced livestock receipts. The full effects of the bad weather on livestock profits will not be evident until the 1947-48 results are known. The union’s economics department stares that the cut in feeding stuff rations in 1946 was also important. Taking 2372 farms, with an average of 193 acres, tne profit a farm was £548 before making certain income tax allowances. This compared with £619 in 1945-46—a reduction of 11.5 per cent. Fluctuations in profit in recent years follow very closely the changes in seasonal conditions STOCK SALES ASHBURTON The top price for wethers at the Ashburton and Tinwald yards this season, 65s 7d, was paid for a line of four sold on account of Messrs E. C. and H. White (Eiffelton) at the stock sale at Ashburton yesterday. Prices at the sale were firmer and showed an increase on the prices of lighter lines at the sale last week. The yarding was fair, with a good attendance of buyers. Medium quality wethers made from 47s to 49s 6d. prime quality from 50s to 57s 6d, and extra prime quality from 58s to 65s 7d. Light-weight, ewes realised up to 30s 7d, medium quality from 32s to 34s 6d, prime quality from 35s to 39s 6d, and extra prime quality from 40s to 48s Id. On account of H. Frampton (Wakanui), six were sold at 48s Id. Lambs made up to 46s 7d. LORNEVILLE INVERCARGILL, July 20. Prices were high again in the fat sheep section at Lorneville sale to-day, although not quite up to those of last week. Ewes were slightly dearer and were again keenly sought. Fat cattle maintained the values of last week. Wethers made to 84s, medium 72s to 765, handy 67s 6d to 70s, light from 57s to 625, good maiden ewes to 665, good butchets’ ewes 54s to 58s, medium quality 48s to 525, light 40s to 455, fat hoggets 44s to 46s 9d. Heavy bullocks made to £29 12s 6d, good medium-weights £24 to £26 10s, handy £2l to £23, light £l7 to £l9, prime heavy heifers to £24. prime medium £2O to £22, light £l7 to £lB 10s, small £l4 10s to £l6, prime heavy cows to £23 10s medium £l7 10s to £l9, light £l5 to £l6 10s, aged and unfinished £ll to £l2 10s. RANGIOBA A poor yarding of stock was forward at yesterday’s stock sale at Rangiora. The only saleable items were nine weaners which made 38s to 40s, two cows, which made £9 and £l5, and one heifer, which made £l4 10s. COMPANY NEWS Christchurch Gas Interim Dividend.— The board of directors of the Christchurch Gas Company yesterday declared an interim dividend of 2 per cent, for the half-year ended June 30. The share transfer books of the company will be closed from July 29, to August 12, both days inclusive. The dividend, is payable on August 12. Caro’s Dividend.—A net profit of £3490, a reduction of £9l, is shown by Caro’s Great Bargain Stores, Ltd., Hamilton, for the year ended May 31. The dividend is unchanged at 6J per cent, on both preference and ordinary shares.—(P.S.S.) * MINING. Clutha River Dredge.—The return for last week was 154 ounces of gold for 125 working hours.—(P.A.) Austral-New Zealand Mining.—The return for 14 days ended July 17, was 452 ounces bullion, for 230 working hours.—