FARMING AND COMMERCIAL.

Dominion, Volume 4, Issue 1176, 11 July 1911, Page 8

FARMING AND COMMERCIAL.

THE YEAR'S WOOL TRADE.

INTERESTING COMPARISONS. WHAT THE FIGURES SHOW. Tho. wool returns for tlio year ended Juno 30 contain sonie very interesting figures. In June 3137 bale's were offered in tlio Dominion, and 2983 bales sold. In Dimcdin 62 bales were otl'ered, and 62 sold; in Timaru -16 ■ were offered and -i-0 cold; in Chris'tcliiirch'lM and 191; in U'ellin?tou, SSS and SO"); Napier, IS2S and Uii: Ciisbofne, 350 ami 350; mid Auckland 72 and 72. The total offerings for the twelve months were 251,710 bales, which was .11,120.bales less than the 255,839 bales offered in the previous twelve months. The sales were 220,20G bales, and in the previous .year they totalled 266,0 IS. This year's sales were, therefore. '16,662 bales less. than last, year's. The following tables give tho details: — BALES OFFERED. 1911. 1910. Invercargil! 20,556 19,753 Dunedin 41,332 41,605 Timaru : 23,1GS '23.866 Christchurck 55,319 56,122 Wellington 52,413 60.K8 Napier 40.554 53.983 Gisborne 3.437 6.992 Auckland 17,580 16,530 Total 251,719 235,539 BALES SOLD. ■ ' . 1911. 1910. Invsrcargill 17,18.1 18.372 Dancdin ,'15.9,52 41,386 Timaru 20.332 24.973 Christcliurch :. ••19.243 52.765 Wellington 41,795 .. m,Xv Napier 36,775 51,,'15l Gisborne 3,149 6,892 Auckland 15,527 15,822 . Total ...'.... 266,918 The .eiports of wool during June totalled 18,349 bales. Invercargill exported 3-513 bales. Dunedin, 1127; .Oaniarn. 91; Timaru, 2776; C'hrislchureh, 4553; Nelson, 81'; Wellington. 1451; AVansranui, 1248; ■\Vaitarn. 406; Napier, 907; Gisborne, :935; Auckland, 1261. The Dominion's expert for the twelve months was 403,372 bales. In the previous twelve months 512 ( 930 bales were sent away; • The difference against this year is 19,566 bale*. Details of the two season'; exports are a.s follows:— BALES EXTORTED. •■:■'. 1911." 1910. '.'lnvercargill.'.'. 39,654 . 29,531 DunSdin ....;...../..; 36,221 40.33" Oamaru : ;..,...,; .' 7,592 . .-8,355 . Timaru'. ..:.. 37,2-16 36.315 Christchurch ......../. 89,021 92,763 Blenheim 14.166 10,255 •-Nelson •: 3,250 3,80(1 ■Wellington 114,857 121,891 Wan?anui 22.904 20.078 Waitara 7..112 • 4,582 Nanier ; 63,254 ' 78,191 Gisborne' 41,061".- 42.810 ' Auckland 25,604 23.350 : Total '..'; 493,372™ 512,933 THE BUTTER POSITION. NEW MAKE' EARLY- IN AUGUST. It is interesting, in vie.w of the present price of butter, to know that it is expected that fair (iiiantities of new butter will be made during the first and second week in August. Tho export of new butter will not commence right, away as. tho local requirements Will absorb -the make. Several big.Taranald factories which are generally regarded as cheese factories, arcat present making butter and will continue to do so for a little while after the season opens. NEW SHOW PROPOSED. ANOPUNAKE -MOVEMENT. There i> talk of another Agricultural Association being formed in Ta'ranaki. The suggestion was first, made that the new show should be a winter show, but. it was subsequently proposed that there should be it stock show. The centre in which the society may bo formed ■ isOpunake. | The matter arose at a meeting of the Farmers' Union, where Mr. J. M'Hardy raised the question, of the formation of a winter show company. The outcome of the ensuing discussion was a resolution that the feeling of the district should be ascertained as to the advisability of forming an Agricultural and Pastoral Association. Opunake, which would be the headquarters of the, association, is a smallish town, but is the centre -of a very.large district. It is a ccastal port, fhirty miles from Hawera and forty from New Plymouth, on the Stain South Road. Dairying is the chief industry. The earlier dairy factories in the district were those of the Crown Company, but thp numerous lactones and creameries which now dot the landscape are almost all cwncd_ co-operatively. There are very few.proprietary concern, 1 :. A fair amount of cattle fattening is donp, particularly, in the direction of Pihania. There is not much sheep farming, but some good flocks are seen in the southern portion of tho district. Various industries have been pursued, but dairying is now predominant. ' A YEAR'S EXPORTS. PRODUCTS OF THE SOIL. During last month butter valued ct .£7885, cheese at ,£39,708, beef at .£27,073, mutton at .£108,374, and lamb at .£200,904 were exported from New Zealand. Tho figures fcr Juno, 1910, were: Butter, .£9063; cheese, ,£62,525; beef, .£120,470; mutton, £103,171; and lamb, .£314,278. The exports .of agricultural .products for the twelve months ended Juno 30 were:— 1911. 1910. £ .£• Wool 7,158,885 7,959,475 Butter 1,089,901 1.275,182 Beef 468,392 043,899 ' Cheese 1,093,379 1,275,182 Mutton 1,235,066 1.112,677 Lamb 1,001,308 1,779,619 Wheat 291.517 257,739 Oats - 328,691 . 311,350 Hemp 312,53t 410,915 Tow 26,991 27,988 Hops 12,278 19,091 Hides 196,39!) 230.87S Skins 822,167 852,811 . Tallow ~.. 607,813 ~ 783,502 ' NEW DAIRYING SEASON. AN EARLY OPENING. Every season, for some years, the dairyman's period of vacation has been becoming shorter. Last season seems to havo scarcely terminated; and .yet next, season is already nt hand; it is expected that factories will bo opening again at the beginning of August. Some factories have not closed at all. Cows have commenced coming in already and in Taranaki young calves may bo seen on a good many farms. The earlier season js attributable to some extent to the dairymen becoming more provident in tho matter of winter feed. There has been a great improvement in this direction. A good many farmers" have provided hay, others have made" ensilage, and other have grown roots.

fJOJEG.

TARANAKI DAIRY COMPANY. ANNUAL MEETING. The annual meeting of the Tamaki Cooperative Dairy Company was held at To Iceluingii, Mr. W. Bell prodding. The annual report gave the following particulars:—Milk received, 5.139,1231b.; butterfat obtained, 190,1281b.; output of butter, 230,5051b. Sixteen consignments, giving a total of 3210 boxes, containing 179,7601b„ were shipped. Account sales for four consignments, with, a total of 591 boxes, containing 33,0961b., have yet to come in. i'lie highest tc„t was 7.0(1, and the lowest 3.00, the average test being 3.81. Tho quantity of milk used to make a pound of butter was 22.29. The prices obtained for butter in the London market ranged from 102s. to Ills, per hundredweight,and on the local markets from 11.U1. to 13d. per lb. The average price realised was about Hid. per lb., as against ll;d. the previous year. After writing off „£174 IDs. Ud. tor depreciation of land, buildings, ami plant (being at five per cent) and allowing bona fide shareholders five per cent interest per annum on capital paid up, there remains a credit balance of £B(o 10s. 2d. (which includes ,£62 4s. 9d. brought forward from last -rear). Your directors recommend that this balance be dealt with as follows:—Pavment of a cash bonus of one penny per lb. to suppliers, ,£Bl, -Is.; balance to be carried forward, 4.-5S 6s. 2d.; total, .£875 IDs. "d During (ho meeting Mr. Moorby. relerrcd in complimentary terms to the wort accomplished by Ih o manager (Mr. «. b. King). When the cabled quotalion ior butter was 1065., thev usually received 107s. or JOSs. " " The chairman said that, the sea'on had been very unfavourable owing to the drought. Butter on the London market Had not reached its true price. II was .not this factory alone thai had been nf. ected. He | liu | noticed the margin berl? a the Denmark and New Zealand butter for the last season had been greater than the previous year. . At a meeting of the directors Mr. Bell was re-elected chairman, and Mr. Kin" was reappointed manager. » METROPOLITAN SHOW" PROPOSAL. ' The proposal to hold a "Metropolitan" ■ Show at Palmerston North was discussed 1 by the Hawke's Bay A. and P. Society at 1 its last meeting. Tho Manawatu Agricultural and Pastoral Association wrote enclosing a resolution passed by Ihem with the. object of nolding a conference of delegates for tho I purpose of informally discussing a scheme I for the representation of other similar I associations on the Manawatu A. and V. i Association's Committee, tho object being i to formulate the constitution of a inetro- ! politan show. I The president (Mr. A. H. Russell) said he attended the conference, but could ! only speak there for himself. : As the motion stood, he did not think that the committer of _the society would agree to it. The motion appeared to place the Palmerston Society in" tho leading position, to which tho Hawke's Bay Society would bo a kind of adjunct.. Referenco was made' at tho conference to a proposal \ to hold a sort of Royal Show, and tho idea was that it should be held at ono place ono year and another place tho nc-St year, and so on. The attitude ,ho (the chairman) took up was against the motion. ANSWERS TO CORRESPONDENTS. Fortuity—Probably the hens are not in n laying condition. It is generally accepted that there is a dark ring round the germ disc when the-egg is fertile. GENERAL FARMINU NEWS. Some of the brands of butter being sold in ' Wellington have been increased in price to Is., oil. per lb. retail. The question of whether it is nioro profitable lo sell butter in New Zealand than in England was raised at the annual meeting of the Tamaki Dairy Company. Consideration of the matter was deferred. Messrs. H. M. Campbell and J. Archibald have been appointed delegates from tho Hawke's Bay A. and P. Association to the conference of Clydesdale breeders, which is to be held in Dunedin oarlv next month to discuss the proposal that a Clydesdale Society should bo formed. A Levin farmer, in an interview concerning the fat stock market, predicts that cattle will be dear in the spring. Manola, a Holstein cow, in the Wereroa State Farm, returned ,£25 worth of butter-fat in 217 days. During the months of June, July, and August, 1910, suppliers of the Tamaki dairy factory were paid lOd. per lb., and in subsequent months 9d. per lb. for buftcr-I'at. At the last meeting of the Opunake branch of the Farmers' Union, Jli- R Lambio brought up the matter of forming a cow-testing association. The following gentlemen were appointed delegates to wait upon the shareholders of tho various factories, and have the matter placed before them:—Pihania, Messrs. Lambio and M'Hardy; Opunake, Messrs. M'Hardy and S. Feaver; Awaluna. Messrs. Leahy and It. Morris; Opun, Mr. S. Feaver; Oaonui, Mr. James Macho. Regarding the demands made, by the Canterbury Agricultural and Pastoral Labourers' Union as to wages and conditions of work, the secretary has received a reply from the South Canterbury Execulive of the Farmers' Union to the effect that that body has no power to act in the matter of the proposed conference to be held for tho purpose of arriving, if po'/iible, at an agreement betweenthe parties. An exchange reports that the Hawke's Bay Fruitgrowers' Company, after going thoroughly into the matter, has decided to increase its capital, and to erect cool stores with a 10,000 bushel-case carrying capacity, with provision for cooling 1000 cases daily. COMMERCIAL ITEMS. INVESTMENT SHARES. A sale of Wellington Trust and Loan shares at £7 ICs. was the only transaction recorded yesterday. Tho buying and selling quotations were as under-.— Buyers. Sellers. £s. d. £s.d Union Bank 66 10 0 — Mortgage 3 8 6 — . Well. Deposit- -• o<B 6 Christchurch Gas 9 15 0 — S.H. Insurance 3 15 0 — Meat .Export (.£5) 6 5 0 '- Jleat Kxport (S2e. 6(1.) — 3 5 6 N.Z. Shipping - 1115 0 : Well. Woollon (ord.) — 4 16' Well. Woollen (nref.) 3 10 Hikurnngi Coal 0 13 6 — Wcstpovt Coal 19 0 bcyland-O'llricii 17 6 Manning and Co — 4 7 6 N.Z. Con. Dental — 13 0 N.Z. Drug 2 9 3 - N.Z. Paper Mills 110 - Taranaki Petroleum — 017 3 , Tariugnmutu Totara. 2 6 0 2 8 0 DECLINING EXrOHTS. The publication of the June figures by Ihs Department of Commerce enables us to make a comparison of the exports for nine months of the produce year, and tho comparison is not very encouraging. The figures arc as under:— 1910-11. 1909-10. October 720,333 822,248 November ... 1,041,103 1,070,461 December ... 2.151,769 1,856.625 January 3,1126,016 2,845,421 February ... 2,346.744 2.962,778 March 2,492.3!8 2,669,221 April 1,4.59.331 2,213,269 Jfnv 1.824,216 1,566,947 June ■ 1,038,173 1,494,587 15,110,153 17,501,557 In the nine months there has been a decline of £1,391,424, and the current Quarter is bound to add a substantial sum; it is very probable, therefore, I hat. the exports for U'.o year ending Kcpteniber 30 next will show a shriiikaec of £1,5C0,0C0 tn £!,75t),0P0. and this shortage must affect the position locally. The warning civen by II r. IT. Ileam-homp, the chairman of the Bank of New Zealand, appears to be fullv warranted by the;? figurts,

. COI'I'KU I'liO!U T CTIOX. The world's production of. copper" in 1910, as estimated liv .Messrs. An rem llirsch. and Soliii,' was 856,5i0 mis of SZ4(ill>., an increase of 51.710 tons on Hie output of the previous year, and 110,055 tons more than that of 19CB. The greatest contributor, of course, is the United States, with <81,710 Inns, or 56.2 per cent, of Ihe total. Mexico comes nest with 58.6C0 tons, or 6.9 per cent., followed by Spain, Japan, and Australia, in the order named, the production of the Commonwealth last year being &.lACO tons, or 5.1 per cent. The' preponderating inliuenco of the United States in the copper market is thus apparent, and values of the metal move almoM automatically in response to American advices. The world's consumption of copper in 1910 is estimated at 932.U1 tons, or 75,461 tons in excess of the production. Scrap copper,, however, has to he reckoned with in estimation of supplies, and the (juantity of such 'available varies with the price. When values are high, once used metal becomes increasingly in evidence, and at times is said to amount to 25 per cent, of the total output. Amongst the consumers of copper America comes first with 337.565 tons, followed liv Germany ' with 2:8.825 tons, Great. Britain being third v.vtli K8.187 tons, whilst the whale of "Europe absorbs 571,546 tons. The production of electrolytic Conner in the United States last year wa« 514.118 tons, according to the estimates of Hie Copper Producers' Association. Messrs. Aaron Tfirsch and Sohn look for a light increase in the output of conper during 1911. as several new mines will enter upon 'he producing stage. They also anticipate an expansion in the consumption, provided political and financial disturbances do 'not interfere with trade development. Customs duties collected at the pari, of Wellington yesterday amounted to £1031 12s. 2d. FEOZEX MEAT. By Telegraph-Press Assoclation-CoDyrigh', London, July 9. Tho Frozen Meat Trade Association's ■Sraithfield market quotations for the undermentioned classes of frozen meat are based on actual sales (,f not less than one hundred carcasses of mutton or lamb, or twenty-five quarters of beef of fair average duality. Tho quotations arc not for selected lines, but for parcels fairly representative of the bulk of tho shipments now on the market. Tho prices which, follow are on an average a fr.rthiriE per lb. more than the value ex ship, this difference representing an average : cost in expenses, handling, conveyance, and selling the- meat:— July 1. July 8. Mutton— d. d , Canterbury, light. « A Canterbury, medium 1 3i Canterbury, heavy 3S 311-16 Southland — - . North Island, best 33 3J. North Island, ordinary... 3-5 3$ Australian, light 38 5j Australian, heavy .'. 3J 3J River Plate, light 5S 33 Hirer Plate, haa-vy 3j 35 New Zealand ewes 3 5-16 3t Australian ewes 39-16 39-16 Kivcr Plate ewes 3| 35 Lamb:— Canterbury, light 51 5S Canterbury, medium 43 43, Canterbury, heavy 43 (!i Southland 415-16 43 North Island, selected ... 4 15-16 4j ■ v North Island, ordinary... 45 413-16 Australian, best 45 4J Australian, fur t\ 45 Australian, inferior 41 4} River Plate, first. 43 i% | Hirer Plate, second '.& 4| Bcef-.-New Zealand, ox fores ... 2i 23 New Zealand, ox hinds ... 3j 3i Australian, ox fores 2|! 25-16 Australian, ox hinds il ol Kiver Plate, ox fores 24 2J Kivcr Plato, ox hinds ... 39-16 33 Kivcr Plate, chilled fores 2J "i Kivcr Plate, chilled hinds 4 31 LONDON MARKETS. By Telegraph—Press Association—Copyright London, July 9. Hemp quiet, prices unchanged. Jute—Native first .marks, August shipment, £23 10s. • An Australian wheat cargo has been sold at 345. U'l. per quarter. The New Zealand Loan and Mercantile Agenrv Company, Limited, have received tho following cablegram from their London house, under date' July 7:-Frozcn meat: There is less demand for frozen mutton and lamb, owing to tho hot weather, and the beef market is very weak. HIGH COMMISSIONER'S CABLE. The Commerce and Tourists Division of the Department of Agriculture has receiv* ed tho following cablegram from the High Commissioner for New Zealand, dated London July 8. (Note: Quotations, unless otherwise specified, are average market prices on spot.):— Mutton!— The market is quiet, small business doing. There is a dull sale for heavy carcasses. The arrivals thi3 week are heavy. Canterbury Hi., North Island 3£d. per lb. Lamb.—Stocks on hand aro heavy, but a fair demand continues. The market is a shade weaker. Canterbury 5Jd., other than Canterbury 4Jd. per lb. Beef.—The market is depressed on account, of the supplies of America.n chilled beef being large. New Zealand hinds 3Jd., fores 2ld. per lb. . Butter.—The market remains firm. Nominally, choicest. New Zealand butter 108s. per cwt. (stock is exhausted), Danish 1155., Siberian 1025.. Australian 103s. per cwt. Cheese.—The market is steady, with a. very good demand. The shipment of cheese, ex s.s. Tainui. arrived in good condition. New Zealand white 605., coloured 61s. per cwt. Hemp— The market is very quiet, nothing doing. New Zealand quotations are nominal and unchanged, viz.:—New Zealand good fair, on spot, per ton, £21; fair grade. £20; forward shipment. New Zealand good fair, £21 7s. 6d.; fair grade, £20. Stock of New Zealand hemp. 809 tons. Manila: Tho market, is firm, with more inquiry. Fair current. Manila, on spot, ner ton, £20; forward shipment, £21. The output from Manila for the week was 21.CC0 bales. Wool.—The market is quiet but firm, at last quotations:—36's low crossbreds, Is. I'd.: 40's low crossbreds. Is. 23:!.: 44's medium crossbreds. Is. 3d.: 50's ha]fbr 3 ds. Is. fid.: 56's nuarter-breds, Is. 9Jd.; 60*= merinos. ?s. 2*d. Kauri Gum.—The market is very quiet. The stock of New Zealand gum is 265 tons. Dark brown selected, rescraped, £7 2s. 6d.; dark brown threo-riuarter-s.crar.cd. £4 7s. 6d.; dark brown chips, drossy. 355. to 455.; rescraped. pale- amber. £12; throa-ouarte''-pale scraped. £7 10s.; diggers' chips, good, £2 10?. ' ' ' Mutton and Lamb.—"liver Plato >-b'nmcn-''j received during month of June, 1911:— Mutton. Lamb, carcasses, oarcassc,. London 145.845 50,801 Hull 9.C00 ijco Liverpool 117,735 61.7C6 Newcastle 5,434 l.flCO Southampton ... . 8.895 1.3C0 . Bristol 6,000 - 292.958 115,807 June, 1910 188,254 60,059 MINING NEWS. WELLINGTON SHARE MARKET. Very little business was done yesterday, and the tendency of the market was downwards. Waihis and Waihi Grand Junctions were Aveakcr. and some of the smaller concerns were pennies lower. There i> believed to be some trouble on the Auckland Exchange about delivery of shares but there are hopes that the matter will he settled without causing any disturbance in the market. The sales recorded yesterday were as under:— ' Waitnngi. 2s. lßid.. ?s. lid. (third call! Mystery Flat. Bs. (third call). The buying and selling quotations were as under:— Buyers. Sellers £s.d.. £s.d. Blackwafer •— 19 0 Con. .Goldticlds — 1 0 .0 Kuranui Caledonian 0 15 0 14 May Queen 0 2 5 0 2 7 New Sylvia 0 3 9 0 5 10 Saxon 0 2 3 0 ' 5 Tairua Mines ....:..... 0 2 5 0 2 6 Talisman 210 0 210 6 Waihi — 3 5 6 Waihi Grand Junction ... 1 6 9 1 7 ti Wai'tangi 0 210 o 3 0 Waihi-Pacroa 0 12 0 _ Mystery Flat 0 7 6 - Tho Wellington Stock Exchange received the following telegram yesterday from tl'in Tairua Mines:-Batt.ory ran 76 hours with fifteen heads: obtained 14-ioz.; hot "water squeezed amalgam.

STOCK EXCHANGE. (By Telegraph-Press Association.) Auckland, July 10. Business done on 'Change this morning;— Bonanza. 2d. Mav ('ucen. 2... 6d., 2s. 7d. New Sylvia. 3s. ICd. Waitangi, 2s. lid. TJremncr's: Freehold, 3£d. Tairua Mines. 2s. 7d. to 2s. sdi Wnihi, £3 65., £3 ss. 9d. Grand Junction. £1 Is. 3d. The following business was done at the 3.15 p.m. call to-day:— Moanataiari. 6d. New Sylvia, 3s. 9d., 3s. 9d. Watchman, 2s. Id. Krcnmer's Freehold, 3Jd. Waihi, £3 ss. Golden Hill. 9d. i Waihi Grand Junction, £1 6s. 9d. Saxon. 2s. -M. Tairua Mines. 2s. sd. N.Z. Paper Mills. £1 Is. 6d.-Ton.-on, Garlick. Ltd.. £1. Dunedin, July 10. Dunedin Stock Exchange sales:— New Sylvia, is. 9d. M aitangi. 2s. lid. Sales reported:- - Tairua Mines, 2«. 7Jd. National Bank. £6 Is. 9d. New Sylvia, 3s. 9>d. The following arc the Dunedin Stock Exchange quotations:— Dredging stocks: Blackwatcr (paid), selS \*-'< Electric. Iraycrs 2s. 3d.; Golden Led, liiyers lis.; Hartley and Riley, sellers 15s. 9d.;. Mystery Flat, buyers Bs. 6d., sellers 95.; No Town Creek, buyers ss. 6d., sellers 7s. 3d.; Sailors' Bend, buyers 2s. 6d., sellers 4s. lid. WAIHI GOLD MINING CO. i PROPOSED OPEN REGISTER. [LETTER FROM THE LOCAL DIRECTOR. ißy Telegraph-Press Association.! Auckland, July 10. Some time ago the Auckland Stock Exchange communicated with the Waihi directors regarding the advisability of that company keeping an open register, sa that shareholders could inspect if at any time, ami see what shares are being transferred, ami from whom and also to whom As nearly every mining company in New Zealand (it not every one) keeps a. register so that anyone can see at a. glance what is going on in tho transfer of shares, it, was not considered by the Exchange an unreasonable reoucst. The efforts of the Exchange have, however, been fru itlesr. in this respect. Mr. Chap. Rhodes, local director of the Waihi Company, has written to the chairman of the Stock Exchange a,s follows:— ".Regarding making the daily register of his company available for public inspection, the directors have again considered the matter, and have decided that they cannot agree to do it, They have nointe'd out that, apart from legal objections on which they have been advised bv the company s solicitor, there would be the further one that it would tend to lower the value of the shares owing to the possibility that newspapers might begin to publish periodically the principal • movement of snares, particularly where either buveror seller happened to he a prominent public man. or oven a. well-known citizen of the world. Such publicity would certainly hinder some persons from hcing .holder's who might be desirable as memhers of tho pompany s proprietary. A leading broker in London has, however, suggested that, if Stock Excnangcs fcriously think that the information should be. made public your members arc themselves in a better position to do it promptly than the company, for they know who aro buyers and sellers often many days before the transfer is presented for registration. The Stock Exchanges could, therefore, arrango to have the transactions publicly posted immediately after the record of the sales. If they so desiro io facilitate such a, course, I am authorised and instructed to receive from any Stock Exchange the names of brokers willing to supply lists of their transactions, and. on receipt of such schedules, I am directed to arrange that the said documents shall bo posted up in the company's office in a conspicuous place, day by day, as they come in. I will, of course, take steps to give effect to tho instructions of the directors if any Exchange or broker desires to make use of the privilege offered."