FARMING AND COMMERCIAL

Manawatu Standard, Volume LII, Issue 142, 18 May 1932, Page 5

FARMING AND COMMERCIAL

SHORT-LEGGED SHEEP. Searching the markets in which sheep in good numbers are sold, all over the country one finds that short-legged sheep are those in most popular favour, and this is easily accounted for by those who study the question, writes “Flockmastcr” in the Live Stock Journel (England). Long legs mean much bone and too little meat in the twist, and therefore waste of meat. No modern housewife can afford to* buy a lot of bone upon which there is no meat, and therefore if the home flockmastcr wishes to keep the trade he must shorten tho leg of some of the breeds and develop for all he is worth the meat on the dock and leg of mutton. Shoulders of lamb (or mutton), saddles, etc., are very nice, the latter especially so, but for a prime favourite there is absolutely nothing to beat a good, well-meatod leg. So many of our sheep carry too much back fat, they are coarse over the loin, have big, strong shoulders, and none too much meat in tho hindquarters, where it is most needed. Until this is altered such sheep will always have to give way to those whose breeders have studied the conformation most likely to suit the butcher. That is, I think, where the Down breeds score, and will always hold pride of place in the mutton-producing world. Again, on the long, lanky-legged sheep the meat is either too lean and muscular or too fat; there is not that happy medium that alone can help sell mutton to the present-day housewife, who wants a small joint of well-marbled meat, not too fat and not too lean, but with a good admixture of both types of meat. In purchasing rams, the purchaser must bear in mind the type of sneep ho wishes to breed. Whether he intends to breed for the butcher only, or to raise up a breeding-flock from which he may eventually breed rams or ram lambs. If ho wants butchers’ sheep ho should look for a ram that is a typical “wethergetter,” a blocky, stocky sheep that should sire lambs taking after, his own conformation, and just the sort that the butcher needs, but if ho is after what wo know as “stud sheep” he must pay a little more attention to tho breed points of his rams. After all, however, the end of every sheep is the butchers’ block, and we must never lose sight of this fact in all our breeding operations. In tho showyards, as in the butcher’s sheep, a good leg of mutton counts for much, and should bo encouraged by all who have the interests of sheep-breeding at heart.

WOOL DUST AS FERTILISER. A conference of textile experts visiting a combing plant saw piles of brown wool dust under the machines, and learned that this was sold as a valuable fertiliser to hopgrowers in Kent, says a London message. It was also revealed that grease extracted from wool is now being refined and sold to the makers of women’s cosmetics. FARMING NEWS. RURAL RAKINGS. Thirty-one students commenced lectures in tho dairy diploma course at Massey College yesterday. Tho statement of receipts and expenditure for the Poverty Bay A. and P. Association for the year ended March 31 last shows a less of £63 4s 9d. Tho 1932 apple season has been, a record one for the Gisborne district, but /unfortunately unforeseen circumstances militated against the exports, which fell short of the record of 1928 by 1209 boxes. Garston (Southland) reports some heavy oat yields including 150 bushels of- oats an acre off a ten acre paddock. Three yeai*9 ago 85 bushels of wheat an acre from 30 acres were harvested in tho same district. Owing to abundance of grass and. damp weather, foot-rot and scald is making its presence felt in the sheep flocks of tho Hawke’s Bay district. During tho past two seasons, owing to exceptionally fine weather, practically no trouble has been experienced with either foot-rot or scald m the district. Approval of the principle of grading milk for cheese making was given by a largely attended conference of Taranaki dairymen in Hawera on Monday. p9 n " siderable support was given for farm dairy instruction but there was a large majority for grading. Tho conference supported the postponement for a year of the introduction of differential payments. Feed is plentiful in the Puketitiri and Patoka districts of Hawke’s Bay, there having been a truly wonderful growth of this high country area (says an exchange). Farmers state that the present autumn. has seen an absolutely phenomenal condition so far as pasture growth is concerned. The lambing flocks are all in good order and cattle feed is in fair supply, so that all farmers arc able to carry reasonable stockings in this class. A start has now been made m most dairy hords in Hawke’s Bay with the drying off of the cows and in consequence, herd output figures are dropping off. The policy of early calving is becoming as popular with Hawke’s Bay farmers as is early lambing with the sheepmen (says tho Napior Telegraph). Under Hawke’s Bay conditions given a reasonable amount of standby and supplementary fodder, thore is- no reason at all. why early calving should not meet with complete success.

AUSTRALIAN STOCKS. SYDNEY, May 17. Although devoid of the abnormal rush which characterised business yesterday on the Stock Exchango, tho turnover to-day was well abovo tho average, and tho tone generally good. Profit-taking accounted for a deelino in values, although; the losses wore not great, but it is evident that brokers are receiving good buying orders. To-day’s sales included: Bank of New South Wales, *2B 4s 6d; Bank of Australasia, £lO 7s 6d; Commercial Bank of Sydney, £l6 2s 6d; Colonial Sugar, £44 15s; United Insurance, £7 ss; Burns, Philp ex. div., 40s 3d; Australian Gas A, 112 s 6d; Carlton Brewery, 31s 3d; Tooth’s 27s 4id Toohoy’s, 17s 6d; Australian Glass, 38s; British Tobacco, 31s 6d: Goldsbrough, Morts, 25s 6d; Dunlop Pcrdriau, 12s 2d; ditto pref., 25s 6d; Howard Smith, 7s 6d; Bcrlei, Ltd., 20s; Millaquin Sugar, 25 s; Winchcombo Carson, 19s; Mount Lyell, 19s 3d- North Broken Hill, 60s 9d; Commonwealth bonds, 4 per cent., 193 F £94 15° 1941 £9O 5s 1944, £BB 15s;. 1947, £BB ss-’1950, £BB 2s 6d; 1953, £BB 2s 6d; 1955, £BB 12s 6d; 1957, £B7 10s; 1959, £B7 7s 6d; 1961, £B7 10s. Morning sales: Commonwealth bonds, 4 per cent. 1938, £94'l7s 6d; 1947, £B7 17s fid • 1953, £B7 15s; 1959, £B7 10s; Bank of’New South Wales, £2B ss; Australian Gas A £5 14s; Australian Glass, 38s; British Tobacco, 31s 3d; Dunlop Pcrdriau, 113 Ud ' MELBOURNE, May 17. Early sales: Commercial Bank of Australia, 15s 4d; Goldsbrough, Morts, 25s 6d; Dunlop Pcrdriau, 12s 2d; North Broken Hill, 60s 6d; Zinc Corporation, 25s 6d; Mount Lyell, 19s 4d.

WELLINGTON STOCK EXCHANGE. YESTERDAY’S BUSINESS AND PRICES.' The outburst of activity in tho Wellington Stock and Share Market, which came on Monday, is evidenced by the fact that 17 sales were recorded yesterday, three having been made late on Monday. This is the best day’s turnover for some weeks. Tho market yesterday was again very active, with a firming tendency, and a good demand in most sections. Yesterday’s recorded sales include eight transactions in Government securities, all at firm rates. Tho 44 per cont. bonds, 1939, were done at £92 17s 6d and £92 15s, and there wero further bids at £92 10s, with no response. Tho 44 per cent, bonds and stocks, 1938, were reported sold at £92 10s, ex interest, and more wero wanted at £92 ss. The 5-i per cent, bonds, 1936, were sold late on Monday at £9B 17s 6d. Yesterday the 5£ per cent, bonds, 1933, were sought at £99 ss, but sellers asked £1 higher. Thei 54 per cent, stocks, February and September, 1937, wore both sold at £9B 15s, and were still in request at £9B 10s. The only change in the debenture section was a rise of 10s in Wellington Harbour Board, 54 per cent., to £96. which failed to draw sellers. Banks were again in active demand, \yith few sellers. Australasias firmed another Is 6d to £9 2s 6d without response. Commercial of Australia hod tow sales at OTs. More were wanted at 13s lid, sellers asking 14s 2d. Thore were two sales of Union of Australia at £6 l£s 6d, 3s above Monday’s bid,' and sellors were asking £7 at tho close. The only inquiry in the financial for N.Z. Guarantee Corporation at 3s lid, sellers asking 4s lch, Goldsbrough. Moris were on offer at 23s 3d. Wellington Gas were up Id at 27s 2d. N.Z. Insurance were reporetd down at 35s 3d, with further buyers at 355. South British were steady at 465. Westport Coal wero wanted at 18s 6d, cum. dividend, without attracting sellers. In file brewery section buyers eased their bids. 3d in each case for Carltons, New Zealands, Staples and Tooths, Sellers of Carltons asked 30s. In tho miscellaneous section British Tobaccos wero reported sold at 27s 6d, and there wero further sellers at 28s. Colonial Sugars hardened another 5s to £3B 15s, sellers lowering by tho same fraction to £39 15s. There was no change of note in other shares, save that Moturoa Oil firmed 3d to 3s Id without response from holders. YESTERDAY’S QUOTATIONS. Buying and selling quotations at yesterday’sl final call on tho Wellington Stock Exchange were as follow:

YESTERDAY’S SALES. Tho following salo3 wero recorded on tho stock exchanges of the Dominion yesterday : Wellington.—Govt. Bonds, 44 p.c., 1939, £92 17s 6d*, £92 15s; ditto, 44 p.c., 1938, ex int., £92 10s; ditto, 54 p.c., 1936, £9B 17s 6d*; Inscr. Stock, 44 p.c., 1938, ex int. (2), £92 103; ditto, 54 p.c., Feb., 1937, £9B 15s; ditto, 54 p.c., Sept., 1937, £9B 15s; Union Bank of Aust., £6.153 6d*, £6 15s 6d; Bank of New Zealand, £2 4s; Commercial Bank of Aust. (2), 14s; N.Z. Insurance, £1 15s 3d; N.Z. Refrigerating, 10s paid, 4s; British Tobacco, ord., £1 7s 6d; Dunlop Perdriau Rubber, 10s 7d. “Late sale Monday. Auckland. —National Bank of Now Zealand, £3 ss; Bank of New Zealand (2), £2 4s 3d; N.Z. Insurance, £1 15s 3d; Goldsbrough, Mort, £1 2s 9d; Gear Meat, £1 7s 6d; N.Z. Drug (2), £2 6s 6d; Golden Dawn (2), 5s 6d; Mahakipawa, 54c1, spi; Govt. Bonds, 44 p.c., 1939, £92 17s 6d; Commercial Bank of Australia, 13s 9d. Christchurch.—Sales on ’Change: “Bank of New Zealand, cum dividend (2), £2 4s; Goldsbrough, Mort (2), £1 2s 6d; Mount Lyeil, 17s 3d; Golden Dawn (3), 5s 3d, 5s 6d, 5s 7d, 5s 8d; King Solomon, Is 2d, Is 14d; Mahakipawa (3), sd; ditto,, prof. (3), 6d; Okarito, cum. div., 9.3 Id, 9s 24d, 9s 4d. Sales reported; Commercial Bank of Australia, 13s 9d; Goldsbrough, Mort (2), £1 2s 3d; Inscr. Stock, 54 p.c.. 1951, £9B 2s 6d; N.Z. Breweries, £1 4s 9d. \ Dunedin.—Sales reported: Union Bank of Australia, £6 15s 6d; Gillespie’s Beach, 3d; Waitaliu Gold Mining, par; Govt. Bonds, 54 p.c., 1937, £99; Bank of New Zealand, £2 4s 3d.

Buyers. Sellers. N.Z. GOVT. LOANS— £ s. d. £ 6. d. 4=2 p.c. Bonds, 1939 ... 92 10 0 — 4£ p.c. ditto, 1938 ... +92 5 0 — 5i p.c. ditto, 1933 99 5 0 100 5 0 5£ p.c. ditto, Feb. and Sept., 1937 98 10 0 —*■ 4+ p.c. Ins. Stk., 1939 92 5 0 — 41 p.c. ditto, 1938 ... +92 5 0 — 5£ p.c. ditto, Feb, 1937 98 10 0 99 0 0 5i p.c. ditto, Sep, 1937 98 10 0 — p.c. ditto, 1941 — 95 7 6 5| p.c. ditto, 1937 95 10 0 97 10 0 DEBENTURES— Well. Racing Club .... — 90 0 0 Dunedin City, 5£ p.c., 1944 95 10 0 — Well. Harb. Bd., 5£ pc, 1940 96 0 0 — Feilding Boro., Si p.c., 1949 — 96 0 0 Hauraki Plains, 5ji p.c 1959 — 95 0 0 Makerua Drn. Brd., 6 p.c., 1950 — 95 0 0 BANKS— Australasia 9 2 6 — Commercial Aust., ord. 0 13 11 0 14 2 Eng., Scot, and Aust. 4 0 0 — National A’asia (£5) *4 18 0 — New South Wales ... *25 0 0 — Now Zealand 2 3 11 2 4 0 Union of Aust — 7 0 0 FINANCIAL — Equitablo Bldg. Co. ... — 6 5 0 Abraham and Williams, pref — 3 5 0 Goldsbrough, Mort ... — 1 3 3 N.Z. Guarantee Corp., ord 0 3 11 0 4 1 N.Z. Invest. Mort. and Deposit — 0 9 2 N.Z. Loan and Merc., ord — 40 0 0 Well. Trust and Loan — 5 5 0 INSURANCE— National — +0 11 9 New Zealand 1 15 0 — South British 2 6 0 — GAS— Wellington, ord 1 7 2 —* MEAT PRESERVING— Gear 1 7 0 — N.Z. Refrigerat. (10s) 0 3 11 0 4 3 Well. Meat Ex., pref. 0 11 4 — TRANSPORT— Huddart, Parker, ord. 1 1 6 — Kelburn Tram, prof. — 1 5 0 COAL— Westport *0 18 0 — TIMBER— Bartholomew — 0 7 6 Leyland O’Brien — 1 0 0 National ■ 0 6 0 Taringamutu — 0 5 0 BREWERIES— ’ Carlton 1 7 6 1 10 0 Now Zealand 1 4 0 — Staples and Co 1 2 6 Tooth and Co 1 3 3 — MISCELLANEOUS— British Tobacco, ord. — 1 8 0 Colonial Sugar 38 15 0 39 15 0 Dental and Medical ... 0 4 6 0 5 6 Electro. Zinc, ord. ... 0 11 0 National Electric — 0 9 6 N.Z. Drug ,.. 2 6 0 — Wilson's Cement *1 6 0 — Woolworths, pref 1 3 0 1 4 6 Oil--Moturoa 0 3 1 — MINING— Mt. Lyell 0 17 0 0 17 8 King Solomon 0 1 0 Mahakipawa — 0 0 6 *Cum. dividend. +Ex dividend.