FARMING AND COMMERCIAL

Manawatu Standard, Volume XLIX, Issue 230, 28 August 1929, Page 5

FARMING AND COMMERCIAL

DAIRY INDUSTRY.

BAINESSE COMPANY’S PROGRESS

VERY SUCCESSFUL YEAR,

A very satisfactory past season was revealed at the annual meeting of shareholders of the Bainesse Co-opera-tive Dairy Company, at which Mr H. Bond presided. Over the whole season the company paid out le Bf,d and carried forward a small surplus, an achievement which must be exceedingly gratifying to the directors ' and shareholders alike.

The report stated:—“The increased tonnage, and the excellent f.o.b. sale made up to December 31st, 1928, both tended to add to the success _of the company. Although some shipments were sold on consignment, which resulted in a lower pr.ice for cheese, we are pleased to report that the balance was disposed of f.o.b. at a fair price, enabling fully Id per lb of butterfat to be paid over last year’s pay-out for the whole season. The increased tonnage (29 tons for 1928-29) is very encouraging and is an indication of Bainesse’s prosperity in line with the adjoining districts. The directors have decided to adopt the more modern system of cheese manufacture and to enlarge the factory and to procure more machinery. Everything is in readiness to go on with the new process. The finances of the company, as shown by the bal-ance-sheet, are in a very satisfactory position. The prospects for the coming season are somewhat clouded, owing to the carry over of a large tonnage on the Home markets. The directors, in keeping with other dairy companies, engaged a farm instructor. The results of his work, it is hoped, will prove beneficial to all concerned. We regret to report the loss by death of two of the original shareholders of the company—Messrs A. C. Wilton and J. Liggins. These gentlemen rendered valuable service to the company and we extend our sympathy to the relatives and friends. In conclusion, our best thanks are due to the manager and stnff for the splendid results achieved, all cheese being graded first and finest. It is gratifying to note that the manufacturing costs continue to show a decrease. The total milk supplied for the year was 5,552,3251b5-, which produced 237,8151b5. of butterfat, which was used for eheesemaking. The cheese manufactured totalled €00,4951 be. (268 tons, lewt. 2qrs., 7lbs). The average test was 4.283 and the average yield 2.525. The cost of manufacture, was .89, and cost of management, .39; the total costs to f.o.b. ■being 1.28. The report and balance-sheet were adopted. Speaking to the report, the chairman alluded to the good work done by the Control Board and hoped that the shareholders would support the chairman of that body (Mr W. A. lorns) who had done yeoman service on behalf of the industry. The retiring directors, Messrs A. H. Metcalfe and H. Bond, were re-elected and a subsequent meeting of directors re-appointed Mr Bond as chairman. Mr W. Hunter was also re-appointed auditor. As an appreciation of services rendered, the managing-secretary (Mr J. T. Andrew) was granted a bonus.

STOMACH WORM. MATAMATA EXPERIENCES. MATAMATA, Aug. 26. A discussion took place at a meeting of the Matamata branch of the New Zealand Farmers’ Union on the ravages of stomach worm in young stcck. Mr Simpson said the stomach worm had been in the Matamata district ever since he had known it. The worm was more harmful to young stock than old. The one per cent, bluestone solution, with the one per cent, washing soda added, was a very successful dose. It had to be adminstered twice on an empty stomach. The speaker instanced Matamata farmers who had proved the cure on their lambs. The treatment also applied to young calves. He further advised giving young grass, as young stock should have young grass. Mr Seed said he had half a dozen young calves on young grass, and they went to pieces with scours. He dosed them with turps, and then put them on a lucerne paddock, and they got better. Mr Simpson added that the dosing should start in April. A settler told him that he had cured his calves and hoggets by cutting pine branches for them. In a week there was nothing left on the pine branches, and the hoggets were well.

NOTES. . Hawks are causing some deaths among newly-born lambs in the Kokatahi district, writes a Greyinouth correspondent. A settler says he has lost several lambs from this cause during the past week, the lambs being attacked and their kidneys torn out, the lambs being still alive when the mischief was discovered. Otherwise the lambing season is very successful. An exceptional number of twins are reported among the flocks, and in a couple of instances there were triplets.

WELLINGTON STOCK EXCHANGE. YESTERDAY’S BUSINESS AND PRICES. On the Wellington Stock Exchange yesterday the following sales were recorded : £ s d Commercial Bank 19 8 Union Bank 15 2 6 National Insurance 16 6 Westport Coal 1 13 9 P. and 0. deferred stock 2 17 0 Waipa Coal 13 6 British Tobacco 2 8 0 Ohinemuri Mining (2 parcels) 10 6 Government securities were steady, the 4i per cents, at £99 17s 6d, the 51 per cents. (1941) at £IOO, and the 51 per cent, stocks (1936) U 1 51 per cent, stocks (1936) at £IOO 12s 6d, and bonds at £lOl 15s. _ Wellington Gas debentures were in demand at £IOO ss, and . New Zealand Breweries bonds at 28s 2d. Bank shares were inactive, the demand being confined to Bank of New South Wales at £sl 5s ex-dividend, Bank of New Zealand long term at 28s 4d, and Union Bank at £ls Is 6d. Sellers quoted £l4 11s for Bank of Australasia, 36s 3d for Australian Bank of Commerce, 29s 9d for Commercial Bank, £8 8s for English, Scottish, and Australian Bank, and £9 14s for National Bank of Australasia £5 paid. Goldsbrough Mort were steady at 47s 3d, and except for a bid of £8 12s 6d for Equitable Building there was no business offering in the- financial section. National Insurance were in demand at 16s sd. There were buyers of Auckland Gas at 24s Id, Gisborne Gas at 13s 3d, Wellington Gas preference at 16s 9d, Gear Meat at 43s 9d, Canterbury Frozen Meat at £8 5s and Wellington Meat Export ordinary at 7s. Huddart-Parker ordinary were firm at 45s 6d cum dividend, and P. and O. deferred stock at 55s 6d. Mosgiel Woollen were wanted at £7 14s. Waipa Coal at 13s 3d, National Timber at 7s 3d, Crown Brewery at 7s, New Zealand Breweries at 84s fid, Staples and Co. at 54s 6d, British Tobacco at 47s lid, Burns,Philp at 475, Sharland and Co. preference at 21s fid, Wairarapa Farmers’ preference at 15s, Wilson’s Cement at 445, and Waihi at 12s 3d. Yesterday’s buying and selling quotations were as under:—

SALES IN OTHER CENTRES,

Per Press Association. AUCKLAND, Aug. 27. Sales.—City of Auckland debentures, 1960, 51 per cent. £lOl 15s; inscribed stock, 1933, 51 per cent., £99 15s; New Zealand Breweries, debentures, 28s 3d; Australian Bank of Commerce, 365; Commercial Bank of Australia, 29s Bd, 29s 9d; National Bank of Australasia (con.), £9 13s 6d; Bank of New South Wales (ex div.), £sl 10s; Taupiri Coal, 29s 6d, rights 6s (3) ; Devonport Steam, 21s 3d; Northern Steam, 14s 3d; New Zealand Breweries, 84s 6d; Timaru (5s paid), 9s Id, 9s; East African Coffee, 40s 6d; Milne and Choyce debenture stock, 26s 7d; Ohinemuri, 10s 9d; Mount Lyell, 44s 6d. CHRISTCHURCH, Aug. 27. Sales.—New Zealand Government 5J per cent, bonds, 1933, £lOl 15s; Commercial Bank of Australia, 29s 7d; National Bank of Australasia (£lO paid), £l9 12s 6d; Christchurch Gas, 26s 2d; New Zealand Breweries, 83s 9d (2) ; Staples’ Brewery, 54s 6d (4) ; Timaru Brewery’ (5s paid), 9s (4) ; Australian Iron and Steel (pref.), 225; British Tobacco, 47s 9d; Mount Lyell, 44s 6d (2), 44s sd; Quill, Morris (cum div.), 17s; Mahakipawa, 4d. Sales reported.—Christchurch Trams, 6Jd per cent., 1934, £104; Australian Bank of Commerce, 36s (2); Electro Zinc (ordinary cum div.), 39s 3d; Holden’s Motors (cum. div.), 28s (2) ; Union Bank, £ls 2s; Commercial Bank of Sydney, £26 ss. DUNEDIN, Aug. 27. Sales.—Kildare, 5s Id (2) ; Staples’ Brew’ery, 545. Sales Reported.— National Insurance, 16s 6d; Otago Daily Times, 73s (2). AUSTRALIAN LOANS IN NEW YORK. < (Australian Press Association.) NEW YORK, Aug. 26. Quotations of Australian loans on Wall Street to-day: Commonwealth: 5 per cent., Jan-uary-July, 1955, 94J; 5 per cent., March-September, 1957, 94J; 4J per cent., May-November, 1956, 85|. New South Wales: 5 per cent., Feb-ruary-August, 1957, 92; 5 per cent., April-October, 1958, 92Jd. Queensland: 6 per cent., FebruaryAugust, 1947, 103; 7 per cent., AprilOctober, 1942, 1091. PRICES OF METALS. (Australian Press Association.) LONDON, Aug. Copper.—Standard, on spot £73 17s 6d per ton, forward delivery, £74 11s; electrolytic, £B4 5s and £B4 15s; wire bars, £B4 15s. Lead.—£23 2s Gd and £23 ss. Spelter.—£2s Is 3d and £25 6s 3d. Tin.—£2o9 7s 6d and £213 6s 3d. Silver. —Standard, 24 5-16 d per ounce; fine, 26Jd. COMMONWEALTH LOAN. (Australian Press Association). LONDON, Aug. 27. The Commonwealth of Australia is inviting tenders on Thursday for £5,000,000 on Treasury bills, with a currency of one year.

DAIRY PRODUCE. Dalgety and Coy., Ltd., have received the following market advice from their head office, London, under date of the 26th instant:—Holders asking butter Is more; white cheeso 2s more.

Buyers. Sellers. N.Z. GOVT. LOANS— £ s. d. £ s. d. 4i p.c. Ins. Stk., 1938 99 17 6 — 5£ p.c. ditto, 1936 101 12 6 — 5J p.c. ditto, 1941 100 0 41 p.c. Bonds, 1939 and 0 — 1938 99 17 6 — 4£ p.c. ditto, 1930 5i p.c. ditto, 1936 DEBENTURES— — 99 15 0 01 15 0 “ Wellington Gas Co. ..100 5 0 — N.Z. Breweries (bonds) BANKS— 1 8 2 1 8 5 Australasia Australian Bank of — 14 11 0 Commerce > Commercial of Aust. — 1 16 3 (ord.) English, Scottish and — 1 9 9 Australian National of Australasia — 8 8 0 (£5) — 9 14 0 New South Wales .... New Zealand (long 51 5 0 — term) 1 8 4 1 9 0 Union of Australia ... FINANCIAL— 15 1 6 15 3 0 Equitable Building Co. 8 12 6 — Goldsbrough Mort .... N.Z. Guarantee Corp. 2 7 3 2 8 0 (ord.) N.Z. Loan and Mercan- — 0 9 8 tile (ord.) — 127 0 0 Ditto (pref.) GAS- — 90 0 0 Auckland (paid) i 4 1 — Gisborne 0 13 3 — Wellington (ord.) .... — 1 13 3 Ditto (pref.) INSURANCE— 0 16 9 — National 0 16 5 0 16 8 South British MEAT PRESERVING— — 3 8 0 Gear 2 3 9 2 4 0 N.Z. Refrigerat. (10s) Canterbury Frozen — 0 6 11 Meat (ord.) 8 5 0 — Well. Meat Ex. (ord.) TRANSPORT— 0 7 0 0 8 9 Huddart-Parker (ord.) 2 5 6 — P. and 0. def. stock .. WOOLLEN— 2 15 6 — Mosgiel 7 14 0 — Wellington (ord.) .... — 7 1 0 Ditto (pref.) COAL— — 7 2 0 Westport — 1 14 6 Waipa TIMBER— 0 13 3 0 14 0 National BREWERIESo i 3 0 8 3 Crown 0 7 0 — New Zealand 4 4 6 4 5 3 Staples and Co MISCELLANEOUS— 2 14 6 2 14 11 C. M. Banks (ord.) ... — 1 2 0 Ditto (pref.) British Tobacco (Aust.) — 0 17 6 (ord.) 2 7 11 2 8 3 Burns, Pfrilp and Co. 2 7 0 2 8 6 Dental and Medical ... — 0 11 0 Electro. Zinc (pref.) ... Farmers’ Co-op. Auc- — 2 0 0 tioneering (B pref.) — 0 17 9 Howard Smith (ord.) — 1 4 0 N.Z. Drug Co N.Z. Farmers’ Fer- — 3 17 6 tiliser — 1 3 0 Ditto (pref.) Wairarapa Farmers’ 1 1 6 1 3 0 (pref.) 0 15 0 0 16 6 Wilson’s Cement MINING— 2 4 4 — Mount Lyell • — 2 4 9 Waihi 0 12 3 — Ohinemuri — 0 11 0