FARM AND COMMERCIAL

Gisborne Times, Volume LXIII, Issue 10096, 8 September 1925, Page 2

FARM AND COMMERCIAL

THE kawarau dam. v The latest progress report issued by the Kawarau Mining Company ..with respect to the construction; of the Kawarau Dam shows that the work is now being pushed ahead as fas.t as weather conditions will permit. The company have appointed Mr H. Vickerman, of Messrs Vickerman and Lancaster, of Wellington, as engineer in charge of the construction of, the dam, and his assistant, Mr S. C. W. David is supervising the work and is resident continually/ on the site. It is reported that piers Nos. 1,2, and 3 have been completed: The site of No. 4 pier lies in an old channel, which lias been filled up by previous work with loose stone, making it difficult to reach the solid bottom. “The trestles for pouring in the concrete for the foundations of piers 6, 7,8, and 9, are in position.. Pier No. 5 is nearing completion, and according to Mr Vickerman, provided no unforeseen contingencies arise, the dam should be completed in November next.

POTATO CROPS IN PUKEKOHE DISTRICT.

Messrs 11. H. Pattle, Ltd., Pukckohe, report:—There is a good areg of potatoes under cultivation tins year, the early planting being rather heavier than usual. Heavy rains early in the season, however, rotted a proportion -of the crop, and this had to be replanted, thus reducing to a certain extent the early crops. Since then the weather lias been fair, and has induced good and regular growth. Also growers this year planted a better class of seed than last year, which should tend to give a crop of stronger constitution, but the fact that a certain amount of blight has already made its appearance is particularly noticeable and disconcerting, as the weather conditions have not been at all humid. How far this will go* it is hard to say. There is, however, a. general feeling of buoyancy amongst the farming community, and given normal weather conditions a good season is expected, which means plentiful supplies at normal prices.

NEW WOOLLEN MILLS

During the past few months new woollen mills at Wanganui began operations, making twelve such concerns for the Dominion, and it is probable that within the next few months a start will he made with the erection of the Southland Woollen Mills at Gore. The amount which the directors aim to secure before commencing building operations is £BO,OOO, and of this approximately £68,000 lias been subscribed. In the South Island there are already eight such establishments. These arc the Mosgiel, the Roslvn, the Bruce Woollen Mills; .there is also an establishment at Invercargill. Coming north, there are mills at Oamaru, Timaru, Ashburton, and Kaiapoi.

LOW CROSSBREDS WANTED

The latest advices from Bradford show that there is rather more inquiry for low crossbred wool. The cheapness of crossbreds is evidently attracting attention and manufacturers in all sections are being forced to realise that cheaper goods are wanted. Messrs H. Dawson and Co., dealing with the wool situation towards the end of July, remarked that the need was for increased volume of business from the piecegoods ond, and this does not yet show any tendency towards improvement, and add: “The purchasing power is crippled because the world is poor; cheap goods and cheaper are needed; and not until these are available can there be any legitimate hope for the fuller demand which will keep bur machinery plant fully employed. The forces against us in our export trade are still existent in the shape of foreign exchanges and lower costs of production in European competitive centres; while at Home trade is suffering from high combing and dyeing charges, from heavy taxation ana unfortunately at the moment, from disturbed industrial conditions. Along with these adverse features, the heavy losses caused by the collapse of wool values make the position extremely difficult, but happily there is still a remarkable confidence in the financial stability of the trade.”

HAWKE’S BAY FARMERS’ MEAT COMPANY.

Another prosperous year has been experienced by the Hawke’s Bay Farmers’ Meat Company. The balance shoot for the year ended July 31 shows that the gross profit amounted to £24,885, which contrasts with £26,775 in the previous year. The expenses. including rates, taxes, insurance, interest, and discounts, totalled £11,727, leaving the net profit at £13,158, as compared with £15,027, last year. There was brought forward £2330, making available for .appropriation £15,788. Out of this, £2OOO has been set aside as provision for income tax, „as against £SOOO last year, the sum of £SOOO has been added to the reserve fund, the same as was allotted last year, and the dividend of 8 per cent, which is the same as was paid last year absorbs £6OBO, leaving £2780 to be carried forward.

LONDON WOOL SALES

Messrs. Dalgetv and Company Ltd. have received the following cable from their head office, London, dated September 3rd : Diierev B'oxat and Co. sell on September 18, Sev't. 28, Oct. 6 and 8.

HOME PRODUCE MARKET

Butter: Rather more inquiry. If we do not soon have rain an advance in prices is probable. Quotations are: N.Z. salted 198 s per cwt ; N.Z. exceptional brands 200 s per cwt.: Danish, 21.8 s per cwt. ; Austral’an salted 194 s per cwt. ; Australian unsa’ted 196 s per cwt. Cheese: Market rather more ?n----qu'rv. Quotations are: N.Z. white 108 s per cwt ; N.Z. colored 107 s per cwt; Canadian spot. 107 s per cwt; Canadian spot 108 s c.L.f.

HOME MEAT M ARKET

The Bank of New Zealand advises rece pt of the following cable from their London office:—

Wethers good demand, ewes good demand which if cont'nued may advance pr’oes, lamb prospect more favorable, beef immediate future prospects are good. Wethers, light 7d to 8d; heavy Old to 7d: ewes SRI to 6d ; lambs under 42s lOd to 11 Jd; ox, hinds 5.(d to old; fores 3Sd to 4d; cow, hinds 4ld to 4Jd; fores 3d to. 3’(l.

BUTTER MARKET

Messrs Dalgetv and Co.;' Ltd., lirve received the following cab'e from their head office, London, under date of Friday the 4th inst.:—.

Since our last cable, prices 'are 21higher. Last quotations were: N.Z. salted 198,/- per cwt.; N.Z. exceptional 200/- per cwt.; Danish, 216/- per cwt.; Australian sa'ted 194/- per cwt.; Australian unsalted, 190/- per cwt.

HOME MARKETS

The New Zealand Lean and Mercantile Agency Company, have received the follow ng cable from their London bouse, under date 2nd inst.: — Ta’low.—We Quote present spot values for the fol'owing descriptions: Fine mutton, 50/9 per cwt.; good beef 48/- per cwt.: mixed. 42/- per cwt.; ninrkot upward tendency. N.Z. Butter. —N.Z. -choicest.- salted 197/- to 200/- per cwt. ; N.Z. unsa'ted , 198/- to 202/- per cwt.; market firm.

Cheese.—lo 3- to 108/- per cwt.; market firm. Wool: September sales—Lists cleared 31st August. Turakina, " Kent, Rualiine) Tasmania, Argyllshire, Tongariro’j Rotorua, Orari available.

STOCK AND SHARE MARKETS

(PRESS ASSOCIATION.) WELLINGTON, Sept. 7. Reported sales: Bank of New South Wales £4l; Bank of New Zealand £2 16s 9d. '■( ' t. DUNEDIN, Sept. 7. Sales: Kawarau 11s 6d; St. Bathans 10s premium. WELLINGTON, Sept. 7. Sales: Bank of New South Wales £4l: Bank of New Zealand 56s 9d. Quotations: Bank of N.S.W., £4O 15s (b); Union Bank £l4 13s 3d (s); Bank of New Zealand 56s Gd (b), 57s (s). '