FARMING AND COMMERCIAL

Manawatu Standard, Volume XLVIII, Issue 135, 8 May 1928, Page 5

FARMING AND COMMERCIAL

BUTTER AND CHEESE. GRADING RETURNS. Figures compiled by the dairy division of the Department of Agriculture show that the salted butter graded for April totalled 4372 tons and the unsalted 49 tons, a total of 4421 tons, compared with 5019 tons salted and 182 tons unsalted, a total of 5201 tons, for April, 1927, a decrease of 15.1 per cent. For the nine months ended April, 1928, the respective quantities were 66,200 tons and 3018 tons, a total of 69,218 tons, compared with 64,263 tons and 2193 tons, a total of 66.456 tons for the corresponding period of the preceding season, an mcreoso of 4.1 per cent. Tho cheese graded last month comprised : White 3909 tons, coloured 2045 tons, a total of 5954 tons, compared with 4538 tons white and 2314 tons coloured, a total of 6852 tons, for April, 1927, a decrease of 13.1 per cent. The quantities for the nine months ended April, 1928, were: White 44,771 ton 3, coloured 23,946 tons, a total of 68,717 tons, compared with 46,996 tons white and 23,521 tons coloured, a total of 70,517 tons, for the corresponding period of the preceding season, a decroaso of 2.5 per cent. Converting these iiguros into butter-fat equivalent there is an increase of 1.95 per cent, in butter-fat production for tho nine months as compared with tho corresponding jieriod of the preceding season.

Stocks held in the various grading ports as at April 30, wore: Butter 5535 tons, cheese 6314 tons, as compared with 10,647 tons butter and 12.956 tons cheese, hold on April 30, 1927.

PRICES ON OVERSEAS MARKETS. Tho New Zealand Dairy Produce Board has received tho following market report from its London office dated 4th May, 1923: BUTTER.

Market firm. Retail prices unchanged. Estimated stocks in public stores Ist May:—London, Liverpool, Bristol, New Zealand and Australian 91,350 crates, Canadian 6500 boxes, compared with 119,850 crates New Zealand and Australian, and 22,800 boxes Canadian last year.

The following steamers arrived this week and commenced their discharge:—Mataroa, cheese, 30th April, butter, Ist May, completed discharge 3rd May. Matatua, cheeso 2nd May, butter Ist May, completed discharge 3rd May. Port Bower, London, cheese and butter 2nd May, completed 3rd May. Mahana, cheese, 3rd May, butter discharge not commenced. The board has also received tho following advice from its agents in Canada: — Butter, New York, 44j cents (Is 10|d), Motnrcal 341 cent 3 (Is 51d), San Francisco 41 cents (Is Bjd). WEDDELL CUP COMPETITION. SUCCESS OF PIO PIO FACTORY. WAIMANA WINS lIARDLEY SHIELD AUCKLAND, May 7. • The competitions for tho Weddell Cup and tho Hardley Shield create great interest among tho dairy factories of the Auckland province. The results of this year’s competitions were forwarded by the Department of Agriculture to tho Auckland Agricultural and Pastoral Association last week. The Weddell Cup has been awarded annually since 1907 to the company securing tho highest average grad# points for export butter during the season extending from October 1 to April 30. The Hardley Shield is awarded similarly for tho highest grade points in export cheese. Tho Weddell Cup was won this year by the Pio Pio Dairy Company, the points scored by the first four companies being as follow : Pio Pio Dairy Company, Mr F. P. Walker, manager, 94.095 points 1 Cambridge Dairy Mr P. C. Peterson, manager, 93.805 2 New Zealand Co-op. Dairy Company, Ngatea, Mr C. Foster, manager, 93.799 3 East Tamaki Dairy Company, Mr A. Baird, manager, 93.690 4 The Pio Pio Company started operations in 1910 with 19 suppliers. The factory is in the- King Country, _ sixteen miles from To Kuiti on the main New Plymouth Road. There axe now • 182 suppliers, and last year 351 tons were manufactured. This year’s output is expected to exceed 400 tons. The Pio l’io Company has a great'record in show competitions. In 1914 it gained the silver medal at the London Dairy Show for tho best unsalted butter, and the gold medal for tho best salted butter. In 1918 Pio Pio just won tho Weddell Cup, and was again successful in .1924. .In 1925 the championship at the Auckland Show was gained. The manager of tlio company, 'Mr F. P. Walker, was butter maker at tho factory when the company won tho Weddell Cup in 1924. lie joined tho company in 1921 as butter-maker, and was appointed manager in 1926. Tho Hardley Shield has been won by tho Wanmana. Dairy Company, tho points scored by tho first four companies being as follows:- —

Waimana Dairy Company, Mr J. Earl, manager, 93.5 points New Zealand C'o-op. Dairy Company, Matamata, Mr B. Barnes, manager,

92.715 2 Ilauraki Plains Dairy Company, Mr K. McKenzie, manager, 92.673 3 Toa Toa Dairy Compaaiy, Mr A. A. Reid, manager, 92,576 4 The Waimana Company, which operates in the 1 Bay of Plenty, has now won the Hardley Shield two years in succession. The competition was inaugurated two years ago, the first winner being the Tohoroa Dairy Company. “POLITICALLY PARTISAN.” FARMERS’ UNION JOURNAL. WAIKATO MEMBERS PROTEST. HAMILTON, May 7. Exception is taken to tho alleged political partisanship of the Farmers’ Union journal, “Farming First,” by the Waikato sub-pro-yincial branch of tho union. Mr Henderson said he considered the paper run in a spirit quite contrary to that in which a farmers’ paper should be run. It contained, ho said, matter and cartoons impregnated with rancour, and it was really a scandal that such matter should bo put out as tho feeling of the farmers. Mr Hanna (To Awamutu) said that when he pointed out that the interests of tho Fanners’ Union were being subordinated to those of the Farmers’ Political party tho editor partly admitted that such was the case.

Other members declared that the Farmers’ Union was a non-political body, yot

WELLINGTON STOCK EXCHANGE. YESTERDAY’S BUSINESS AND PRICES. There were only two sales recorded yesterday on the Wellington Stock Exchange. At the morning call a sale of Bank of Australasia (fractions) at 9s 3d was made on ’Change, and at the afternoon call the fractions again sold at 9s 3d on ’Change. There was a good demand for Government securities. 1 Tho per cents, were wanted at £97 12s 6d, the 5|- per cents, at £99 and the 5£ per cents, at £IOO 7s fid. Wellington City 5i per cents, (1933) were in demand at £99 ss, and Wanganui City 5J per cents. (1945) at par. Bank shares were steady with a fair demand. Bank of Australasia were wanted at £)l4 2s 6d, tho rights at 60s, and the fractions at 9s. Commercial Bank were firm at 28s 6d, National Bank of New Zealand at £7 2s fid, National Bank of Australasia (£5 paid) at £9 (cum. dividend), Bank of New Zealand “D” shares at 26s 4d, Union Bank, local register £l4 15s, and Melbourne register £l4 15s. Sellers quoted £26 15s for Commercial Bank of Sydney, £4B for Bank of New South Wales, and 3d for Bank of New Zealand. English, Scottish, and Australian Bank wore in demand at £8 6s (ex-dividend). Financial shares were in fair demand. Goldsbrough Mort were steady at 50s, and New Zealand Guarantee Corporation at 8s 3d, Loan and Mercantile stocks were very firm at £lO4, -and there wore buyers of Wellington Investment at 10s 3d, and Wellington Trust and Loan at £6 12s fid. Insurance shares were neglected—the demand being confined to Australian Provincial at 8s 6d.

Gas shares were unchanged. Auckland Gas were in demand at 22s 6d and Wellington Gas as 27s 9d. Meat shares were firm. There were buyers of Wellington Meat Export at 10s, and New Zealand Refrigerating (20s paid) at 17s and 10s paid at Bs. Huddart-Parker shares wore firm at 47s and Union Steam at 20s 4d. Woollen shares wore steady. Kaiapoi Woollen were wanted at 8s 9d and Wellington Wopllen (ordinary) at £6 2s 6d and preference at £6 6s. Westport-Stockton Coal shares were unchanged at 2s 9d. There were buyers of Crown Brewery at 9s, British Tobacco at 40s, Burns, Pliilp and Co. (South Sea) at 25s 6d, Wilson’s Cement at 395, Electrolytic Zinc (ordinary) at 30s and preference at 325. Yesterday’s buying and selling quotations were as under: —

CHRISTCHURCH, May 7. Sales. —Westport Coal, 30s Id; Tooth’s Brewery, 43s 3d (2- parcels); N.Z. Guarantee Corporation, 8s 4d; Mahakipawa, Is 6d (two parcels), Is 7d. Sales reported.—Carlton Brewery, 45s lOd; Mahakipawa, Is 7d (two parcels). DUNEDIN, May 7. Sale. —Milburn Lime and Cement, 32s 3d. Sales reported.—New Zealand Refrigerating (cont.), 8s 2d; Westport Coal, 30s 3d. RURAL INTERMEDIATE CREDITS. Per Press Association. HAMILTON, May 7. The rural intermediate credit scheme is making some progress in the Waikato. Credit associations have been formed at Te 1 Awamutu and Hamilton, whilst the New Zealand Co-Operativo Dairy Company guarantees advances to its members. An association is also being formed at Otorohanga, and committees to investigate have been appointed at other centres. Mr J. Snell, Deputy-Commissioner,, addressed representatives of about twenty dairy companies at Hamilton to-day, explaining tho scheme.

there was no doubt whatever that the official journal was taking up a political attitude. It was decided to support a motion from Te Awamutu in protest against tho journal’s policy-

LONDON MARKETS. lIIGII COMMISSIONER’S REPORT. Tho Department of Agriculture has received tho following cablegram, dated May 5, from tho High Commissioner for New Zealand, London:— HEMP. Manila market quiet and values unchanged. “J” grade May-July shipment quoted sobers £2B 10s. Sisal: Fair business has been done with spot and ailoat at about last quotations. . Now Zealand: Quiet, except for small business in high points at lower prices. Fair, freely offered for May-July shipment at £29, without attracting buyers. _ Nominal values high-points £sl 15s, fair £29, common £2B 10s for May-June shipment. TALLOW. Market quiet, but steady, and demand is good at auctions. Preshnt spot quotations aro —Mutton: Fine, 24s per ewt; fair to good, 39s fid to 40s 6d; dark to dull, 38s to 38s 6d. Beef: Sweet and/or mixed, 40s 6d to 445; fair to good, 38s 6d to 40s_ fid; dark to dull, 37s to 38s. Mixed: Fair to good, 38s fid to 40s; dark to dull, 37s to 335. Gut, etc., 35s to 38s. OATS. Market firm, but closing quieter, buyers having filled requirements for tho time being. English hold firm, choice white making 38s to 40s. Plato afloat and for April-May shipment sold up to 325. Chilean afloat sold at 32s 3d and April-May shipment at 32s 6d. Now Zealand A grade gartons for May shipment sold 38s; now ollered at 395, but latter price not yet reported made. PEAS.

Maple: Market quiet, but firm. English in small supply, best samples making 68s to 70s. Now crop making satisfactory growth, but acreage believed to be less than last season. Now Zealand No. 1 partridge offered at 71s for April-May shipment, and ex store quoted at 72s 6d to 755; Tasmanian, 85s to 90s. Blues: Better inquiry for English and Dutch. Other imported quiet. Nominal values Now Zealand, ex store, £l9 to £2O. Tasmanian afloat quoted buyers £2O 10s. BEANS.

Firm with moderate inquiry, English best winter making 50s to 51s. Spring, 1927, crop not showing very good quality, best selling at 54s to 565. Chinese horse for July-September shipment sold £lO 8s 9d. DANISH COCKSFOOT. Market easier with poor demand. Present value about 90s, c.i.f. APPLES. Ex Mataroa and Matatua, in the market. Condition generally good, except Mataroa, some Cox’s Orange wasty, and Hawke’s Bay Jonathans and Delicious backward and of poor colour. Matatua, some London Pippins wasty. Mahana commenced discharging. Market still quiet, but shows signs of improvement. Prices: Cox’s Orange, 12s to 16s per case; Cleopatra, 13s to 14s; Jonathan and Delicious, 11s to 13s; Dunn’s Favourite, lUs to 12s; Lord Wolsoloy and London pippin, 10s to 11s. PEARS. Ex Mataroa, nearly all cleared at prices quoted last week. WOOL. Bradford market quiet at last quotations. Catalogue for May London sales total 109,200 bales, compared with 123,200 corresponding series last year. CONSOLS AND COLONIAL STOCKS. (Australian Press Association.—United Service.) LONDON, May 3.

Tho following table gives quotations for consols and - colonial inscribed stocks, com-

FARMERS’ UNION. MEETING AT LEVIN. Various matters of interest to the farming community wore discussed at the annual meeting at Levin on Saturday of the Manawatu provincial executive of tho Farmers’ Union. Mr Jenson ivas present to represent the To Horo branch, but tho president pointed out that this was not quite regular according to tho rules. Tho resignation of a member of tho oxccutivo should bo sent to the executive, and not to tho branch. It was, however, in order for a branch to send a representative to deal with any particular matter, but he would have no vote on the executive. Tho union was in a different position to-day from what it was in ten years ago, and in another ten years there would not be a farmer in New Zealand who was not a member of the union, particularly as the funds of the union were now in such a prosperous condition. Mr H. Bond moved that, in addition .to tho remit already drafted in _ connection with tho rabbit inspectors taking up tho duties of noxious weeds inspectors, tho Government should be asked to grant an extra subsidy to rabbit boards to reimburse the inspectors for tho extra duties entailed. —-Tho motion was seconded by Mr J. Gloyn and carried.. Tho president pointed out that, at the March meeting, one o£ tho members wished to move a motion regarding political action, but as this particular matter was still under discussion by tho Dominion executive, ho refused to accept tho motion and was surprised to sec that it appeared in the minutes as having been carried. —Tho meeting decided that 1 tho minuto bo expunged. '• , Mr K. M. Littlo wroto notifying the executive that tiio inter-provincial conference would be held at Feilding on May 30 and 31. Ho also advised that tho last day for receiving remits would bo May 10. Tho following remit for tho conference was received from the To Horn branch: — “That the Government bo asked to appoint a board of not less than three members to valuo all farm lands occupied for tho last 20 years or more? such value. to bo permanent and based on the production of tho unimproved value.” THE ORDER SYSTEM. Colonel Pow, the Dominion secretary, then explained to members the working of tho order system. From the beginning up till 1926 he had manipulated tho affair himself, but it became too. big then and he had to engage the services lof a girl. She had worked well under his supervision and everything went all right till. she. had to start the North Taranaki division in October. There wero two batches of orders from Manawatu, and the second lot of theso had been put away in the stnongroom and. overlooked. The existence of those second BO orders was unknown to him, and it was only when ho made an investigation that he found that 80 had not been presented, while others had been duplicated. There had been no difficulty in any other district but this, and the' reason was the overlooking of tho second batch of orders. It was no use putting them in in March, so they were put in at what va a considered a more convenient time, and that was why 80 members were drawn upon for £2 in the one year. He hud since seen many of these members, and the majority were satisfied with the explanation.

Ciolonel Pow added that it was no uso branches asking that the handling of these orders should, bo entrusted to the provincial secretaries, as the Dominion executive would not stand for it. In some cases it had been

difficult to get the commercial firms to deal with these (orders, but a personal interview with tho general managers had overcome the. dithculty. and all was now in order. Mr Denton pointed out that on one occasion the Levin branch, with 100 members, was only able to show three on the balancesheet, and this was ridiculous. “Orders should be presented in the flush of the. season and not when the farmer is borrowing money to carry on,” observed Mr Blond.

Mr H. J. McLcavey considered that the orders should be presented in January, os April was about the worst month iri the year.

Colonel Pow: But I’vo paid more money into the bank in April than in any other month.

Air Lynch explained that some members had asked to have their orders presented to tiie mercantile firms in November, as the wool cheques were being paid from then until April. After a discussion, it was agreed that all orders on mercantile firms would be presented at the end of October and on dairy companies at the end of December; and a hearty vote of thanks was passed to Colonel Pow for his explanation.

Now Zealand— Prev. 4/5/28. week. ,s. s. s. s. Finest salted 162-166 164-166 Unsalted 166-172 166-176 Australian —• to 176 Salted 150-154 152-165 Unsalted up to 156 152-156 152-156 Argentine— Finest unsalted 152-156 1552-156 Irish Creamery— Salted 162-164 164-168 Unsalted 164-166 166-170 Danish— Spot 179-180 180-32, F.o.b 168-169 172 Dutch Creamery— Unsalted 170-174 168-172 Esthonian — Salted 166-168 168-170 Unsalted 168-170 168-170 Latvian — 168-170 Polish —- Siberian 150-152 152-154 Salted 146-148 Unsalted 156 ' — Market quiet. Estimator stocks all buttors in public stores 1st May, 10,035 tons, compared with 7556 tons last vear. Doliveries Now Zealand this week 890 tons; in store New Zealand this week 4700 tons. CHEESE. New Zealand— Prev. 4/5/28. week, s. s. s. s. White and coloured 96-93 96-97 Canadian — Finest coloured 108-110 108-112 White 110-114 110-114 Stocks very low. Australian — Finest coloured 94-95 93-94

Buyers. Sellers. N.Z. GOVT. LOANS — £ 3. d. £ s. J. 44 p.c. Ins. Stic., 1939 97 12 6 97 17 6 41 p.c. ditto. 1938 97 12 6 — 51 p.c. ditto, 1S36 100 5 0 100 15 0 54 P-c. ditto, 1941 99 0 0 — 4£- p.c. Bonds, 1941 ... 4A p.c. ditto, 1939 97 10 0 — 97 12 6 — 4i p.c. ditto, 1938 97 12 6 97 17 6 41 p.c. ditto, 1930 — 93 15 0 p.c. ditto, 1933 100 7 6 — 5-*, d.c. ditto. 1936 100 7 6 — DEBENTURES— N.Z. Brewories (bonds) Wellington City, 54 — 1 4 0 p.c., 1933 Wanganui City, 53 99 5 0 ' p.c,, 1945 100 0 0 — BA N KS —• Australasia 14 2 6 — 3 0 0 — Ditto (fractions) Commercial of Aust. 0 9 0 — (ord.) Commercial Banking Co. of Sydney English, Scottish and 1 8 6 26 15 0 Australian 8 6 0 8 7 6 National of N.Z National of Australasia 7 2 6 (£5) 9 0 0 — New South Wales 48 0 0 New Zealand Ditto “D” shares (£1 — 3 0 6 paid) DitUo “D” shares (15s 1 6 4 paid) 1 1 3 1 2 0 Union of Aust Ditto (Melbourne re14 15 0 14 17 0 gister)' 14 15 0 — FINANCIAL — Goldsbrough Mort 2 10 0 National Mortgage ... N.Z. Guarantees Corp. — 3 15 6 (ord., 8s) N.Z. Loan and Merc. 0 8 3 0 8 6 Agency (ord.) 104 Well. Invest., T. & A. 0 0 10 0 3 z Well. Trust, Loan ... GAS— 6 12 6 — Auckland (paid) 1 2 6 1 3 3 Wellington (ord.) INSURANCE— 1 7 9 National’ — 0 15 10 Aust. l'rov. Assce. ... MEAT PRESERVING— 0 8 6 1 19 9 N.Z. Refrigerat. (£1) 0 17 0 0 17 6 Ditto (10=) 0 8 0 0 8 6 Well. Meat Exp. (ord.) TRANSPORT — 0 10 0 Iluddart-Parker (ord.) 2 7 0 2 8 0 Union Steam-(pref.) ... 1 0 4 — P. and O. def. stock ... — 255 0 0 WOOLLEN— Kaiapoi (ord.) 0 8 9 — Ditto (oontrib.) 0 2 0 — Wellington (ord.) 6 2 6 — Ditto (prof.) COAL— 6 6 0 Westport Westport-Stockton 1 10 6 (ord.) 0 2 9 — Ditto (prof.) TIMBER— 0 3 9 Leyland-O’Bricn. 1 15 9 National — 0 12 6 Itotoiti BREWERIES— — 0 17 6 Crown 0 9 0 — Staples and Co 1 17 6 New Zealand — 2 7 0 \Vard and Co — 1 18 0 Sunshine MISCELLANEOUS— — 0 15 0 C. M. Banks (pref.) ... — 0 IS 0 British Tobacco (Aust.) (ord.) 2 0 0 — Burns, Phil}) and Co. Ditto (South Sea) 1 5 6 2 3 0 Electro. Zinc (ord.) . . 1 10 0 1 11 6 Ditto (pref.) 1 12 0 — N.Z. Paper Mills Shnrland and Co. — 0 16 9 (ord.) — 1 0 6 Wilson’s Cement 1 19 0 — MINING— Mount Lyell 1 12 0 — Waihi 0 12 0 0 12 8 SALES IN OTHER CENTRES. Per Press Association. AUCKLAND, May 7. Sales. : —Bank of Australasia (rights), 59s 6d; Commercial Bank of Australia, 28s 8d; Bank of New Zealand, 60s; Bank of New Zealand (“D” pref.), 2C s, paid 27s; Union Bank, £14 16s 6d; New Zealand Insurance, 41s 6d Farmers Coop. Auctioneering (“A pref.), 16s; Goldsborough, Mort,; 50s 3d; Hikurangi Coal. 4s: Auckland. Gas, 23s 3d ; Waihi 12s 3d.

pared with thoso o£ April 26 : Varial J rice. tion. £ s. d. s. d. Consols, 2£ per cent 5b 10 V Samo British 5 War Loan 101 10 0 7 6+ Conversion Loan, 3j 77 10 0 Samo Coin’wealth, 1922-27 . 100 12 6 7 6+ Com’wealth, 6, 1931-41 ... 102 2 6 2 bf Victorian, 3, 1929-49 ... 72 8 9 Samo Victorian, 3£, 1929-49 ... 77 10 0 Same Victorian, 5£, 1930 40 ... 100 5 0 2 6* Victorian, 5, 1932-42 ... 97 17 6 2 64 Victorian, 43, 1940-60 ... 95 7 6 2 6+ N.S.W., 4, 3933 94 0 0 2 6+ N.SAV., 3, 1935 75 11 3 3 9* N.S.W., 34, 1930-50 35 10 0 5 Of N.S.W., 53, 1922-32 99 15 0 Samo N.S.W., 6£, 1930-40 102 10 0 2 G* N.S.W., 6, 1930-40 100 12 6 6 3+ Queensland, 31, 1930 .... 96 10 0 Same Queensland, 3, 1922-47. 71 5 0 2 6* Queensland, 6, 1930-40 . 102 0 0 33 9+ New Zealand, 4, 1929 ... 98 15 0 5 0+ New Zealand, 3£, 1940 ... 58 D 0 Same Now Zealand, 3, 1945 ... 78 15 0 5 0* New Zealand, 6, 1936-51 108 0 0 Same S. Australia, 33., 1939 ... 85 7 6 2 6* S. Aus., 3, 1916, or after 61 2 6 Same S. Australia, 6i, 1930-40 . 102 10 0 5 Of Tasmania, 3$, 1920-40 ... 85 2 6 7 6* Tasmania, 3. 1920 40 ... 31 10 0 2 6t Tasmania, 61, 1930-40 ... 103 10 0 7 6f W. Australia, 3£, 3929-35 83 17 6 10 Of W. Australia, 3, 1915-35 85 15 0 5 Of W. Australia. 6, 1930-40 101 17 6 5 Of flligher. *Lowor.