FARMING AND COMMERCIAL

Manawatu Standard, Volume L, Issue 222, 15 August 1930, Page 5

FARMING AND COMMERCIAL

THE DAIRY INDUSTRY. MANAWATU RELIANCE COMPANY. ANNUAL MEETING HELD. Tho eleventh annual meeting of tho Alanawatu Reliance Co-operative Dairy Coy., Ltd., was held at Rangiotu last evening. Mr D. G. Moore presided over a good attendance of suppliers and shareholders. A motion of condolence was passed with tho relatives of tho lato Mr Roa Larkin, who had been a shareholder from the foundation of tho aompany. On the motion of Mr Moore, the director’s report and the balance-sheet wore formally adopted, after being seconded by Mr C. Alve. Mr Mooro reviewed the position as disclosed by tho balance-sheet and regretted that tho year had not been such a successful one as that experienced previously, owing to the reduced prices for dairy produce. Ho was of the opinion that the coming year would bo somewhat similar from tho point of view of prices, the outlook for cheese being brighter than that for butter. He assured those present that the directors were doing their very best for the suppliers, and he impressed on all of them tile necessity for showing the true co-opera-tive spirit and not losing an opportunity of getting added supply for tho factory, as there was not tho slightest doubt that it was the best equipped in the Manawatu.

After several questions on tho balancesheet had been answered the motion for its adoption was carried. On the motion of Mr J. H. Lover, seconded by Mr T. Donaldson, the final payment of Id a pound for butter-fat, as recommended by the directors, was carried. In the election of directors the nominations did not exceed the vacancies and the chairman therefore declared Messrs C. Alve, H. W. Alve and S. S. McCullum duly elected. Mr R. Davis was reappointed auditor. Votes of thanks to tho manager, staff and secretary were carried and acknowledged. Addressing tho meeting, one of the company’s agents dealt with tho market for standardised cheese, and while not imparting advice as to any definite coureo of action, he said he felt certain that his principals would be able to obtain a premium for full cream cheese manufactured in accordance with the requirements of the markot. Light refreshments were provided for those in attendance and it was decided to again hold the annual Reliance ball this year. At the conclusion of the annual meeting a meeting of directors was held, when Mr S. S. McCullum was elected chairman, the retiring chairman (Mr D. G. Moore) not seeking re-election. NATIONAL DAIRY ASSOCIATION. COMPANY REGISTERED. The National Dairy Association, Ltd., lias been registered as a public trading company in accordance with the decision reached last month. Its objects are: To acquire and carry on the business carried on since 1897 by the National Dairy Association of New Zealand, Ltd., as dealers in, importers and manufacturers of all plant and appliances used in the dairying industry; and as butter and cheese-makers, etc., etc. Capital, £BO,OOO in £1 shares. Subscribers: Arthur Morton, farmer, Egmont Village; John B. Murdoch, farmer, Hawora; Thomas A. Winks, farmer, Hawera; John D. Brown, farmer, Ohau; John Gildea, farmer, Maharahnra; Edward S. Tremaine, farmer, Whangarei; James B. Gow, farmer, Opotiki; Eearber H. Anderson, farmer, Cambridge; and James G. Brechin, company secretary, Pahiatua, each one ordinary share. INTERNAL PROCESSES. WINDOW IN COW’S RUMEN. Penetate Jessie, the famous cow with the window in her stomach, is dead, but a new cow has been operated on to take her place, reports Hoard’s Dairyman. A window was made in the left side of the rumen, or first stomach, which permits the investigator to study and analyse the contents of the rumen. Important bacteriological studies were being made with Penstate Jessie, but they wore interruptd by her death. In the work done with this cow it was found that 90 per cent, of the bacteria in her rumen were of a new type. These were namd Fiavobactrium vitarumen. It was found that these organisms manufactured vitamin B when this substance was omitted from the cow’s ration. Then, when substitutions and additions were made to the feed, the bacterial picture changed remarkably. . , , The information so far gained may not have any particular practical value, but it is interesting to learn what goes on inside a cow. This work may lead to 'very important information. SHIPMENTS OF MEAT. The Now Zealand Meat Producers’ Board is advised by cable from its London office that tho shipments from Australia and South America to the United Kingdom during the month of July were as follow:—Australia: Carcases mutton, 16,534; carcases lamb, 32,080; quarters beef, 60,293. South America: Carcases mutton, 70,870; carcases lamb, 209,785; quarters beef, frozen, 9,967; chilled, 462,351. Shipments from Patagonia, nil. The shipments from New Zealand to tho United Kingdom for the samo period were as follow: —Carcases mutton, 311,729; carcases lamb, 909,585; quarters beef, 14,432. The shipments from South America to the Continent of Europe during tho samo period were as follow: — Mutton, 195 tons; frozen beef, 3,969 tons. DAIRY PRODUCE. Tho New Zealand Loan and Mercantile Agency Coy.; Ltd., has received the following cablegram from its London house dated August 13: Butter, New Zealand, choicest salted, 135 s to 1365. Cheese, white, 77s to 78s; coloured, 82s to 335. Market slow. WHEAT MARKET. CHICAGO, Aug. 13. Forward wheat prices are as follow: — September, 914 cents; Docember, 96J cents; March, 1 dollar 14 cents; May, 1 dollar 4 2 cents. WASHINGTON, Aug. 13. It is announced here that tho condition of tho Canadian spring wheat is 85 per cent, of normal, indicating a yield of 350,000,000 bushels, against 276,000,000 last year.

WELLINGTON STOCK EXCHANGE. YESTERDAY’S BUSINESS AND PRICES. There was a fairly good inquiry on the Wellington Stock Exchango yesterday, chiefly for gilt-edged, banks and financials; but only fair sates wero recorded. Buyers continue their offers for Government securities, but sellers are scarce. For the 44 per cent, stocks and bonds (1939 and 1938) buyers advanced their bids 2s 6d to £99 15s; tho 44 per cents. (1941) were steady at £99 12s 6d; the 54 per cent, stocks (1933) and bonds (1933 and 1936) wero firm at £99 ss._ Bank sharos wero in good demand with a tendency to firmness. Bank of Australasia at £ll 14s wero 2s higher; Commercial Bank of Australia were unchanged at 20s 2d; National Bank of Australasia, £lO paid, wero firm at £l4, and tho £5 paid were wanted at £6 18s. Bank of New South Wales dropped 5s to £36. Bank of Now Zealand at 55s lOd wore firm, as were long term shares at 275. Union Bank wero on sale at £lO 15s and Midland Bank wero wanted at £9 3s 9d. Buyers repeated their offers of 27s 4d for Goldsbrough Mort and Coy., and Now Zealand Guarantco Corporation wero steady at 7s 9d. There was a good demand for New Zealand Investment at 10s 3d. Wellington Trust and Loan at £6 19s, and Wellington Deposit at 9s 9d. Wellington Gas at 29s 4d were a shado firmer. New Zealand Rofrigcrating (10s paid) wore wanted at 4s 4d, and Wellington Meat Export at 5s 6d. Huddart, Parker preference at 20s, and Union Steam, at 20s 3d wero unchanged. National Timber wero wanted at 8s 6d; Now Zoaland Breweries were firm at 50s 4d with sales at 50s 9d. Burns, Philp and Coy. wero 7d lower at 33s 7d, but British Tobacco wero form and unchanged at 375; Holden’s Motor Body Builders wero 3d down at 8s 6d. Wellington Cordage wero in demand at 8s Id, and Taranaki Gil wero 6d up at 2s 6d. YESTERDAY’S QUOTATIONS. Buying and selling quotations at the final call yesterday on the Wellington Stock Exchange were as follow: Buyers. Sellers. N.Z. GOVT. LOANS— £ s. d. £ s. d.

YESTERDAY’S SALES. The following 6nles were recorded on the Stock Exchange of tho Dominion yesterday:— Wellington.—N.jZ. Breweries (2), £2 10s 9d; Carlton Brewery, £1 10s 3d; Wellington Deposit, Mortgago and Building, 10s. Auckland. —Commercial Bank of Australia, ord, £1 0s 4d; Commercial Bank of Australia, prof., £6 8s; Union Bank of Australia, £lO 13s 6d; South British Insurance, £2 17s; Waihi, 14s 2d; Waihi Grand Junction, 2s Id. Dunedin.—Okarito, 6s lOd; Mahakipawa, 2d. The Christchurch Stock Exchange was closed yesterday on account of the races. LONDON TALLOW SALES. LONDON, Aug. 13. At tho tallow sales to-day, 1250 casks wero offered, and 763 wero sold. Quotations: Mutton, fine, 31s, medium 25s 6d; beef, fine 355, medium 25s 6d. Dalgety and Coy., Ltd., have received the following report fnom London, dated August 13, regarding tho tallow sales: — 1250 casks offered, 750 sold; fino mutton, 316 per cwt.; good mixed, 28s per cwt.; inferior, 25s per cwt. As compared with last sales tallow is Is per cwt. higher, except fine mutton, which is unchanged.

AUSTRALIAN PRODUCE PRICES. SYDNEY, Aug. 14. Tho wheat market is easier in sympathy with the reaction overseas; bulk, 3s lid per bushel; bagged, 4s. Flour, £lO 10s per ton. Pollard and bran, £6 10s per ton. Potatoes, Tasmanian, £8 to £lO per ton; Victorian, £8 10s per ton. Onions, Victorian Spanish, £6 per ton. Oats, Wliito Algerian, 4s per bushel. Maize, 4s 9d per bushel. ADELAIDE, Aug. 14. Wheat, 3s 94d per bushel; flour, £9 10s per ton; bran, £6 17s 6d; pollard, £7 10s; oats, Algerian, 2s 9d per bushel.

44 p.o. Insc. Stk., 1939 and 1938 99 15 0 — 5£ p.o. ditto, 1933 99 5 0 — 44 p.c. bonds, 1941 ... 99 12 6 — p.c. ditto, 1939 99 15 0 — 44 p.c. ditto, 1938 99 15 0 100 2 6 54 p.c. ditto, 1933 and 1936 99 5 0 — BANKS— Adelaide — 6 9 0 Australasia 11 14 0 11 19 0 Commercial of Auat. (ord.) 1 0 2 — Ditto (pref.) — 6 10 0 National of Australasia (£10) 14 0 0 14 2 6 Ditto (£5) 6 18 0 6 19 6 New South Wales ... +36 0 0 — New Zealand 2 15 10 2 16 3 Ditto, long term 1 7 0 — Union of Australia ... — 10 16 0 FINANCIAL — Goldsbrough Mort ... 1 7 4 1 8 0 N.Z. Guarantee Corp. (ord.) 0 7 9 0 7 31 N.Z. Invest., Mortg. & Deposit 0 10 3 — Well. Invest., T. & A. — 0 11 0 Well. Trust and Loan 6 19 0 — Well. Deposit and Mortgage 0 9 9 0 10 3 Wright, Stephenson (ord.) 0 19 0 — GAS— Gisborne 0 10 0 — Wellington (ord.) 1 9 4 1 9 9 INSURANCE— National — 0 14 1 MEAT PRESERVING— Gear — 1 17 6 Cantby. Fr Meat, ord. — 6 10 0 N.Z. Refrigerat. (10s) 0 4 4 0 4 10 Well. Meat Ex. (ord.) 0 5 6 — Ditto (pref.) — 0 19 6 TRANSPORT— Huddart, Parker (ord.) — 1 18 6 Union Steam (pref.) . 1 0 3 — WOOLLEN— Wellington (ord.) .... — *5 14 0 COALWaipa — 0 11 6 TIMBER— National 0 8 6 0 10 6 Leyland-O’Bricn — 1 6 0 BREWERIES— New Zealand 2 10 4 — MISCELLANEOUS— Burns, Philp and Co. 1 13 7 1 15 9 British Tobacco (ord.) 1 17 0 1 17 9 Dental and Aledical ... — 0 12 0 Holden’s Motor Bldrs. +0 8 6 — National Electric — 0 10 6 N.Z. Paper Mills — 0 19 9 Sharland and Co., ord. — 0 18 6 Taranaki Oil 0 2 6 0 3 4 Wairarapa Farmers’ (pref.) — 0 14 6 Wellington Cordage . 0 8 1 — Wilson’s Cement — 2 1 0 Con. Brick and Pipe — 0 17 9 Midland Bank 9 3 9 . MINING— Waihi 0 14 0 , Mount Lyell — *Cum. dividend. 1 2 8