EXPANDING BUSINESS

Dominion, Volume 23, Issue 8, 4 October 1929, Page 10

EXPANDING BUSINESS

W.F.C.A. ANNUAL MEETING THE FARMING OUTLOOK Dominion Special Service. Masterton, October 3. ‘•The vear just closed has been one of continually expanding wh m M. Bowden, chairman of d ‘7M?c Wa readdressing the shareholders ot the J » ™ rapa Farmers’ Co-onerathe A « s . ocla l Ltd at their annual meeting th is at ur noon. The board felt gratified with the re in}enso b eompeiition had prevailed in the towns in which the company operated, but the association had «>VJVeondifrVs had i?ock department, both in live stock and wool Then too. there had been doub in the minds of many as to tllp /TThat this of the association. "Me fee! that this difficulty has been overcome, Mr. Bow den said "and confidently look forward to better Uadhig results in all departments during the coming year. ?

Preference Dividends.

Referring to the proposal that contingent liability of £15,000 (accumulative pretuenee dividend for the year ended July 31. 1928') be settled by asking holders to accept payment oi aireais or dividend spread over six years, the association to pay 3* per eent. ha -yearly, commencing from January 1, 1930, Mr. Bowden stated that the response to the circular sent Out had been most SMtlfllng. In favour of the proposal were 473 shareholders holding 172,105 shares and against It were 20 shareholders holding 5 <6B shares. In the light of this, the board would take steps forthwith to have a meeting called to srlve the proposal legal effect. Though power would be sought to paj a dividend on the ordinary shares this should not be taken as promising a dhidend for next year. It was desired to build un the reserves to some degree, before resuming payment of dividends on ordinary shares.

Outlook Justifies Confidence.

"Our success naturally depends on the degree of prosperity experienced by the country at large," said Mr. Bowdem "We are informed that the outlook for the coming year Justifies confidence. In out districts the flocks are larger than last year and given freedom from abnormal climatic conditions there should be marketed a wool clip above the average Burnher of bales. The clip will any reduction in price. In any case, he said, conditions in the Old Country ami on the Continent did not Indicate anything in the nature of a slump in values. Tlt, steps taken recently rat “VaJm’d tion tn industry would liaie a marked effect on British trade, and a satlsfaetoij readjustment of Continental ndations would seem to make tor a revival m trade y, ower Prices for Stock. "The per centage of lambing in the company’s district was satisfactory. tor fat lambs might open at a lower figure than last year, when higher prices were paid than world conditions warranted. In fact, it was anticipated that prices for all live stock would rule on a lower level than obtained last year. .We do not mean that there will be any serious decline tn values, but that last year’s prices were dangerously high. Stable prices on a reasonable level are better than high fluetuating values, enabling farmers to operate with greater confidence.’ \ Dairying Industry, Mr. Bowden said those interested in the datrv industry seemed justified in anticipating stable prices. The arrival of warm rains would bring pastures away, and the country would then be in better heart than ever before. Farmers were reaping the benefit of their top-dressing, herd-testing, and culling, and In general the outlook was decidedly cheerful. Directors Be-eleetod, Other directors present at the meeting were Messrs. V. E. r, ® na ’ d ’ „ Beetham, A. Bovver knight. H. G. MilHams, and J. Cnselberg. An apology 101 absence was received from Mi. n. Howard Booth. There was. a fair attendance of shareholders. , . , ... The report and balance-sheet (already nublished) were adopted. T . . , ♦ 1 Messrs 11. G. Williams, A. Bovver Knight, and W. Howard Booth, the retiring directors, were re-elected. Ihe <l>joctors were voted an honorarium of £4.(0, phis travelling expenses, to be divided as tftt. board decided. Messrs. Sellar. Matkins, Hull, Hunt, and Wheeler were re-eleited auditors at a fee of £250, plus travelling expenses. LIVE STOCK MARKET PROVINCIAL SALES At the Wanganui stock sale on Wednesday Messrs. Freeman R. Jacksoil and Co. had a good entry in all sections, lie stock came forward In good condition. The sheep market was a hard sale, bidding being verv lifeless, and a heavy proportion was passed at auction, but quite a number of lines were sold privately. The cattle section comprised mostly empty dairy cows, yearling, and two-year Jersey heifers Competition on this class of cattle was good. Dairy cattle and pigs sold firm at recent rates. The range of prices was:— Sheep.—Extra heavy ewes, to 405.: tat ewes, 285.: forward b.f. hoggets, 21s. to 21s. id ; medium wether hoggets. 225. id. to 235. Id ; m.a. wethers. 315.; small b.f. hoggets. 17s. 6d. to 20s. Bd. Cattle.—Light fat cows. £8 Bs. tad. to £10: store cows (ex dairy), £4 12s. Od. to £5 Ils.; boner cows, £1 10s. to £1 Ls. «d.: 2-year empty Jersey heifers. £5 15s, to £7; 2-year empty Jersey cross heifers, £5 4s. to" £6 25.; yearling Jersey heifers, £4 to £4 Bs.; dairy heifers (close up), £0 to £lO. Pigs.Baconers. to £3 55.; porkers, £2 I3s. to £3 Is.; light porkers, 275. to 34a.; stores, 19S. od. to 265.; vvettners, 12s. 6d. to 215.: vealers, £2 to £2 175.. At the Ashhurst sale on Wednesday Messrs. Abraham nnd Williams. Limited, had a good yarding of cattle and pigs, but the entrv for sheep was not large. The cattle sold well, blit the demand for pigs and sheep was limited. Prices ranged as follow:—Ewe hoggets. 2fls.: springing heifers. £9 10fi„ £lO 7s. fid., £lO Ills., £ll, to £l2 10s.: springing cows. £l2 Ills.: heifer in milk, £9 155.: forward cows, £4 7s. Od., £4 10s.. to £5 2s. od.: store cows, £2 10s. to £3 10s.: fat cows, £6 fo £0: fat heifers. £0 17s. Oct. £7 155., to £lO 10s.; porkers, 325.; weaners, 18s. to 19s.

PEDIGREE JERSEY SALE Dominion Special Service. Palmerston North, October 3. A total of £1023 3s. Gd. was realised for die 40 bulls and 3 heifers sold nt the annual Manawatu Jersey bull and heifer sale yesterday. The average price for the bulls Was £24 and that for the heifers £2O IGs. Gd. Woodstock’s' Byron, a yearling bull, brought top price. This animal was sold to Messrs. Wright. Stephenson, and Co., as agents, for -16gns. The same firm paid 31gns. for Allandale Bess, a yearling heifer, bred by Mr. A. Horn. of Oliau. Realisations, additional to those published yesterday, are as follow: — Ardath Prince (Parenga Victor —Trefoil Myrtle). R. Shortall. Colyton, to C. Kendrick. Pahiatua. IGJgns. Holston General (Holston Banker—Hilltop Bessie). J. T. Trill, Bpnnythorpe, to Weight Bros.. Pahiatua. GAgns. Helston Prince (Holston Banker—Muratn! Princess). fame vendor, to Mai Bros.. Ashhiirst. 7gns. Helston Unstuff (Helston Banker—Holston Rose), same vendor, to T. H. Verry, Xhihintua, lOgns. Tararua Gay Lad (Springles Owler Again -Tarawa Gladstone), P. A. Anderson. Levin, to C. IT. Jenson. Tokomnru, 3lgns.

Tararua Cavalier (Ku Ku Light (hvler) : — Tarnrua Rosebud), same vendor, to 11. C. Lover. Ohingalti, 40gns.

Tararua Sunny Owl (Ku Ku Fight Owler —Tararua Mone’s Sunflower). P. A. Anderson, Levin, to Wright. Stephenson, and Co.. Ltd., as agents. 27gns. Tararua Prince Chhrming (Ku Ku Light Owler —Tararua Charm), same vendor, to F. Gough, Aokauterc, 17Agns. Tararua Hopeful Lad (Ku Ku Light Owler—Mone’s Hope), same vendor, to Wright, Stephenson, and Co., Ltd.. as agents, l!)gns. Sprfngburn Silver King (Ku Ku Monoriollsit—Springburn olive). R. L. Horn, jun.. Ohan. to M. Foster, Woodville, 19gns. f’nrlngbiirn Gold Coin (Ku Ku Mononolist—Snringburn Amber), same vendor, to Mai Bros., 20gus. SYDNEY WOOL SALES Australian Press Association, (Rec. October 3, 8.45 p.m.) Sydney, October 3. At the wool yules 16.150 bales were sold. There was an improved Continental ami Japanese rlepinnd for average descriptions ahowirg fineness. Greasy merino brought ISid.