FARMING AND COMMERCIAL

Manawatu Standard, Volume L, Issue 303, 18 November 1930, Page 5

FARMING AND COMMERCIAL

ECONOMY IN CHEQUES. NEW METHOITIN ENGLAND. SAVING WORKTND EXPENSE. A wider use of the practice of making payments through orders on a bank is envisaged by the action recently taken by the large joint-stock banks in England. For some years past this practice has been followed by many large firms in making salary payments, and private individuals have shown an increasing inclination to employ it for making regular payments, such as club subscriptions. The debtor instructs his banker to make to the creditor’s banker a certain payment on certain dates until further notice, a number of such payments being covered by one cheque drawn on the debtor’s banker. Thus a considerable saving of money and labour is effected, first, in the cheque stamps; secondly in the cost of postage; thirdly, in the absence of a receipt stamp; and fourthly, in the work entailed in posting individual cheques and receipts. Such payments are obviously only possible where both debtor and creditor possess banking accounts, and have mutually agreed to this form of remittance. It is hardly surprising that the search for economies has led to the idea of the wider development of this method of making payments, particularly in large industrial enterprises, the Times Trade Supplement remarks. The Treasury having endorsed the legality of the system, the banks, or at least several of them, have taken steps to prepare for its extension. Batiks, it is understood, propose charging a commission on payments made in this manner. A comparable system of making payments without the use of cheques has been employed in Germany for some years and there, it is understood, the banks have instituted a clearing system for the lists of payments with which customers supply them.

BRITISH MARKETS. HIGH COAIAIISSIONER’S REPORT. The Department of Agriculture has received the following cablegram, dated November 15 from the High Commissioner for New Zealand, London: — TALLOW. Auctions will resume next week when catalogue will be small. Market is quiet, with little change in values. APPLES. Market slow. Present quotations are: British Columbian Jonathan, 8s to 10s; Oregon Newton, 10s to 12s 6d; Californian Newton, 8s 6d to 9s 6d. EGGS. Plentiful supplies of colonial available and quotations for these are fairly well maintained, but new-laid values weaker. Cheaper grades steady. Present quotations are: English national mark, 16s 6d to 27s 6d per long hundred; English ordinary pack, 21s to 255; Danish, 21s to 225; South African, 13s 6d to 17s; Australian, 14s Cd to 17s. HEMP. Manila market firmer early this week, and on reserve of sellers “K” grade November-January shipments sold up to £23 15s, but closed easier at £23. Sisal improved in sympathy. Tanganyika first grade good marks November-January shipment sold £22 10s. Fair average quality OctoberDecember shipment now held for £22, second grade 20s less. Mexican unchanged. New Zealand continues without interest. Small business confined to oddments left over from last season at unreported prices. Values nominally unchanged. WOOL.

On Bradford market the firm tone for Merino tops was well maintained. Fine crossbred steady but medium crossbred and coarse crossbred slow, with prices slightly reduced. Present quotations for tops are: 64’s warp, 2s Id to 2s lid per lb.; average, 2s to 2s Ofd; 56’s, Is 3£d; 50’s prepared, Is lid; 40’s prepared, 10jd.

THE CALF CLUB MOVEMENT. JUDGING ARRANGEMENTS. The requisite arrangements have been made in respect to the judging of the calves reared in connection with the school club competitions. The procedure adopted is that at each of the competing schools all the entries submitted at that school will be judged as a school class and later the leading calves from several schools will generally bo assembled at a suitable centre and judged as a group class. Usually the group class consists of three or four calves from each school in the group. The centres at which group judging will take place this year are Cheltenham, Rongotea, Longburn, Levin and Woodville. The following judging arrangements have already been made:—(a) Judging will be carried out at individual schools on (1) November 20th at Rongotea group, commencing at Kopane 9.30 a.m., Rongotea 11 a.m., Glen Oroua 1 p.m., Taikorea 2.30 p.m. (2) November 26th at Cheltenham group, consisting of Cheltenham, Makino, Kiwitea and Stanway schools at times to be fixed by local supervisors. (3) November 28th at Longburn group, commencing at Kairanga 9.30 a.m., Longburn 11 a.m., Tiakitahuna 1 p.m., Rangiotu 2.30 p.m. (b) Judging will be carried out at the group centres on (1) December 2nd at Rongotea; (2) December 3rd at Cheltenham; (3) December 4th at Longburn; (4) December sth at Levin. At all centres judging will bo based on evidence on the good rearing and treatment necessary to produce a good dairy, animal. At Cheltenham, Rongotea, and Longburn this judging will be done by either Mr J. Lyons, M.R.C.V.S., director of the live stock division, or Mr W. O. Barry, M.R.C.V.S., district superintendent, Wellington. At Longburn in addition the calves will also be judged as a separate class on the basis of type or conformation. At each of the group centres addresses will bo given by officers of the Department of Agriculture on such matters as the value and means of good rearing and the role of pasture management in the rearing of calves from Christmas onwards. Probably also demonstrations on the points of the dairy animal will be given. The information given in this connection will be of particular interest to competitors and others concerned because of the competitions during the coming year for which all “marked” calves will be eligible. It has been decided definitely that there will be classes for calves reared in connection with the 1930 club competitions at the Feilding Summer Show, at the Fcilding Agriculture High School Show held about May and at the Palmerston North 1931 Summer Show when the calves will be yearlings. In addition, it is practically certain that classes will bo provided at the Palmerston North Winter Show, the Levin Summer Show and the Woodville Show. Because of this show programme the information to be _ imparted at the group centres during the first week in December is'of potential value.not only to competitors who will exhibit calves at the group centres, but also to other competitors for it is quite conceivable that calves which do not deserve to be in the prize list at the end of November may well deserve to be among the winners in February or May or June, provided they, receive suitable treatment in the interim pleasing feature of the Calf Club movement in evidence at recent meetings is the keen , interest being taken by prominent breeders and farmers.

With a view to combating the alarming spread of ragwort a conference of representatives of all public bodies in a wide district has been convened by the Te Awamutu branch of the New Zealand Farmers’ Union.

WELLINGTON STOCK EXCHANGE. YESTERDAY’S BUSINESS AND PRICES. Only three sales were reported on the Wellington Stock Exchange yesterdav. but the prices realised were up to the highest recorded last week. There was some slackening in the demand, but values continued firm. Government securities were slow, only the 5i per cent, bonds (1933 and 1936) being in demand, and for both issues £99 was bid. Wellington Racin" Club debentures were firm at £lO3 10s. . , Bank shares were in fair demand and generally firm. Commercial Bank of Australia were wanted at 17s or 2d less than on Saturday; Commercial Banking Coy. of Sydney were steady at £l7 19s; National Bank of New Zealand were up Is at £5 12s; Bank of New South Wales were 2s 6d higher at £32 ss; Bank of New Zealand were in demand at 56a 9d with a sale at 575, and the long-term mortgage shares were steady at 26s 3d. Union Bank of Australia were wanted at £9 14s 6d, with a sale at £9 16s. English, Scottish and Australian Bank were on sale at £5 12s, with no declared buyers. New Zealand Investment Mortgage were steady at 10s; Wellington Investment were up Id at 10s 3d, and Wellington Trust and Loan at £7 were Is higher. New Zealand Insurance were steady at 42s 3d. Gas shares were in good demand. Auckland Gas at 23s 4d, Christchurch Gas at 24s lOd, and Wellington Gas, ordinary, at 28s Cd with sellers at 295. For Huddart Parker, preference, 19s 4d was again bid. P. and 0. stock were wanted at 40s cum dividend, and Ivelburn Tram, ordinary, at 29s 6d. Taupiri Coal at 21s Cd ex dividend were Cd higher. New Zealand Breweries were steadv at 45s 8d with <i sale at 465. Staples and Coy. were firm at 395. Electrolytic zinc, preference, were up 2d at 18s 3d. Milson’s Cement were steady at 39s 9d cum dividend. Consolidated Brick and Pipe were again wanted at 12s. Mount Lyell were Is 2d lower at 21s 4d cum dividend. YESTERDAY’S QUOTATIONS. Buying and selling quotations at tho final call on the Wellington Stock Exchange yesterday wore as follow: — Buyers. Sellers.

YESTERDAY’S SALES. The following sales were recorded on tho stock exchanges of the Dominion yesterWellington.—Bank of N. Z., £2 17; Union Bank, £9 lfe; N.Z. Breweries, £2 6e. Auckland.—Comm. Bank of Aust., 17r fad, 17s 7d, 17s 9d; Bank of N.Z., “D” Mtg., £1 6s 9d; Union Bank, £9 15s 6d; N.Z. Breweries, £2 6s 3d; Electro.. Zinc (pref.), 19s; Insc. Stk., 5£ p.c., 1936, £99 ss; N.Z. Farmers’ Co-op., 6£ p.c., 1940, £76. Christchurch.—Comm. Bank of Aust., 17s- Goldsbrough Mort, £1 & 9d; Tooth s Brewery, £1 ss, £1 5s Id; Australian Glass, cum div., £1 9s; Mount Lyell, cum. div., £1 3s, £1 3s 2d; Mahakipawa, B£d. Sales reported - N.Z. Brewereis, £2 9s 9d, £2 6s; Booth, Macdonald, 6£ p.c., 1932, £6B; Comm. Bank of Aust.. 17e 6d, 17s 9d, 17s lOd, Mount Lyell (2), £1 3s 2d; Aust. Glass, cum. div., £1 9s. . , . Dunedin—Okarito, 5s 6d; Cornish Point, paid, 2d. Sale roported: N.Z. Breweries, £2 6s. AUSTRALIAN EGGS. LONDON, Nov. 17. Importers of Australian eggs have not succeeded in maintaining prices as they hoped to do, and the best figuro obtainable for the largest is 16s per long hundred (120 eggs), against 17s a fortnight ago. This is mainly due to the very heavy supplies, but the difficulties of the situation have been increased by the arrival of considerable quantities of Victorian eggs sold forward at a price equal to about 13s 6d landed. In the face of competition of these cheap eggs importers have had no option but to lower their prices for eggs from other States of Australia.

About 95 per cent, of Denmark’s farms are owned by the farmers themselves, due in part to the financial assistance given them by the Government.

NEW ZEALAND TRADE. IMPORTS FOR NINE MONTHS. SOME LARGE DECREASES. The value of the imports into New Zealand for the nine months to the end of September totalled £33,348,543, as compared with £36,354,414 for tho corresponding term of last year, thus showing a decrease of £3,000,000. Luxury imports such as liquor, spirts and tobacco wore lower, as will bo seen by the following:—

The new duties have been operative for only a few months of the period, and the decline is certain to be progressive. The heaviest decline is in the popular cigarette, which has fallen by over £lll,OOO. Tobacco is down by nearly £15,000, whisky by nearly £27,500, and wine by about £9OOO. A fair sum was paid for dried and fresh fruit, the values showing as under :

Tho shrinkage amounts to £40,765, and is mostly in connection with raisins. . . In tho nine months the Dominion paid £574,508 for sugar, against £657,253 in the corresponding period of last year, although the quantity imported was 1,339,066 cwt., against 1,240,286 cwt. New Zealand spent £568,456 on tea, against £729,581 last year, and £1,888,448 on motor vehicles against £3,279,935. During the nine months tho Dominion imported 133,740 tons of coal, valued at £171,595, and exported 103,981 tons, valued at £152,448 The Dominions imported timber to the' value of £658,571 and exported timber of the value of £2-56,736. Tho phosphates mported were valued at £403,080, against £554,565, and other manures cost £116,909, aganst £146,619. SYDNEY WOOL SALES. SYDNEY, Nov. 17. At tho wool sales to-day, tho offerings were 10,193 bales, of which 9123 wero sold at auction; in addition 573 were disposed of privately. The average price of tho wool auctioned last week was 8.3 d per lb. All better class wools to-day ruled firm. Competition was general with rather better \orkshiio support. Greasy Merino made up to 19d per lb.

N.Z . GOVT. LOANS— £ a. d. £ 8. d. 5A n.c. bonds, 1933 and 1936 ••••• 99 0 U DEBENTURES— .. . Well. Racing Club ...1U5 1U u — BANKS- . „ „ Aust. of Commerce ... — 1 u Commercial of Aust. (ord.) 0 17 0 — Commercial Banking Co. (Sydnoy) 17 10 u English, Scottish and . _ „ Australian — Tb iz National of N.Z *5 12 0 — New South Wales .... 32 5 0 — 0 New Zealand 2 16 9 2 17 Ditto, long term ...... 1 6 3 1 7 6 Union of Australia ... 9 14 6 FINANCIAL— N.Z. Guarantee Corp. _ „ „ (ord.) ■ — u / 0 N.Z. Invest,, Mtg. and Deposit 0 10 0 0 11 0 Well. Invost., T. & A. 0 10 3 Well. Trust and Loan 7 0 0 7 2 6 GAS— Auckland 1 6 4 — Christchurch 1 4 10 1 5 4 Wellington (ord.) .... i a b 1 9 0 INSURANCE— _ _ _ New Zealand z z 6 — MEAT PRESERVING— _ 1 16 0 Well. Meat Ex., pref. — 0 19 0 TRANSPORT— . . „ Huddart, Parker, ord. — 1 8 u Ditto, pref 0 19 4 — P. and 0. stock *2 0 0 — Ivelbum Tram (ord.) . 1 9 6 — COAL— ... Taupiri (ord.) +1 1 b — .0 Waipa — 0 10 TIMBER— . — *0 15 0 National — 0 10 0 BREWERIES— . _ . . New Zealand 2 5 8 Z b u Staples and Co 1 19 0 — MISCELLANEOUS— ... _ British Tobacco (ord.) — 1 16 5 Dental and Medical ... — 0 12 0 Electro. Zino (pref.) 0 18 3 0 Con. Brick and Pipe 0 12 0 f0 15 Taranaki Oil — 0 3 6 Wairarapa Farmers (prof.) — 9 U 10 0 Wilson’s Cement *1 19 — MINING— 1 1 4 *1 5 9 *Cum. dividend. fEx dividend.

1930. 1929. £ £ Ale, porter and beer . 19,518 17,656 Bitters, liqueurs, etc. 4,060 4,140 Brandy 39,843 34,936 Gin, Geneva, etc. ... 59,839 60,355 Rum 11,627 10,005 Whisky 352,295 379,733 Wine 81,972 91,051 Cigars 12,024 14,240 Cigarettes 333.818 444,954 Tobacco 545,487 560,339 1,460,483 1,617,409

1930. 1929. Dried — £ £ Apples and apricots . . 21,703 14,488 Currants . 22,101 31,190 Dates . 20,541 25,376 2,103 1,728 Prunes 21,667 18,719 103,740 136,239 . 6,508 3,754 Fresh— 624 385 Bananas 61,252 84,077 Oranges and lemons 94,937 85,689 Other 42,264 36,560 397,440-438,205