BRITAIN’S GREATEST NEEDS

Evening Star, Issue 23451, 16 December 1939, Page 7

BRITAIN’S GREATEST NEEDS

BUTTER AND PIG MEAT PLEA FOR GREATER PRODUCTION £Pbb United Press Association.) CHRISTCHURCH, December 15. Two fields of production in wfiiich the Dominion was given an enormous opportunity for expansion of trade were pig meat and butter, said the Hon. W. Leo Martin (Minister of Agriculture) in an interview to-night. Ho made a special appeal to all farmers to co-oper-ate in tho effort made through the Primary Production Council and sub-coun-cils to supply to the utmost limits tho foodstuffs required by the Imperial Government botfli for military and civil purposes. Indications of a substantial increase in the amount of butter-fat production for the Dominion over that for last season were quoted by tho Minister. Last season’s production, he said, was considerably affected by the unfavourable climatic conditions and the aftermath of the Outbreak of facial eczema. “ Great stress lhas been laid on the fact that during the past two or three seasons the herds of New Zealand have tended to he reduced in number,” said the Minister. “It must be remembered that the reduction has been brought about largely through very extensive culling, and at the present time our cows are individually capable of producing far larger quantities of butter-fat than the average cow in tlhe past. It is clear ffhat in the forthcoming season there will not be the necessity to cull so heavily as has been done in the past two or three seasons. If this policy is adopted a very large increase in butter-fat can lie recorded. Next season, by the saving of further calves, it slhould be possible to bring the herds up to numbers cven_ greater than in the past, at the same time continuously increasing our production.” The Minister emphasised that so far as Great Britain was concerned pig production was probably, if anything, more essential flhan any of other types, especially as at the present time she was very largely dependent upon Danish supplies, and the very perilous position in the North Sea made supplies very difficult. “ The position in regard to butter .is very much the same,” said tßie Minister. “Pig meat and butter represent probably the two most important avenues for production from which real service will be given to the Empire. There is an enormous field of expansion for the Dominion in that direction.” HUME STEEL YEAR PROFIT OF £32,000 Confirming the made in a preliminary statement on November 27, tho accounts of Hume Steel Ltd. show that the compauy made a profit of £32,984 in the year ended September 30. Profit, which is struck after providing £17,500 for taxation and £458 for expenses of the recent preference share issue, compares with £41,703 in the previous year and with £40,312 iu 1936-37, . For the year under review the directors have already recommended the payment of tho company’s first ordinary dividend of 21 per cent., requiring £6,250, Preference dividends take £10,312. The sum of £20,000 is transferred to reserve, leaving £23,434 to ho carried forward, against £27,013 brought into the accounts. A consolidated balance sheet of Humo Steel Ltd. and its subsidiary companies shows current liabilities and provisions at £189,329, against which there are current assets amounting to £251,270, fixed assets arc shown at £171,623, investments and advances at £32.045, and reserves and undistributed profits at £147.454. Consolidated profit. and loss account, shows a net profit of £34,676, after providing £IB,BOO lor taxation.