FARMING AND COMMERCIAL

Manawatu Standard, Volume LII, Issue 176, 27 June 1932, Page 4

FARMING AND COMMERCIAL

PAYMENTS TO SUPPLIERS. DAIRYING IN MANAWATU. The Makowhai Company is advancing to its suppliers Is, the Tokomaru and Mangawhata companies lid, and the Rangiotu company lOd for butterfat supplied for cheese-making this month. A bonus of 1 l-3d per lb for the year ended May 31, 1932, has been sanctioned by the directors of tho Levin Co-opera-tive Dairy Co., Ltd., for payment to suppliers on July 20. This brings tho average pay-out for tho past season to 11.673 d per lb, and represents a bonus distribution of nearly £16,000. Last year the total payment for the season was just a fraction under Is Id. when tho bonus distribution wa3 £17,600. PRICES ON LONDON MARKET. There was a slight improvement last week in the London butter market, which closed quiet, but steady. Now Zealand salted at 965-98 s, showed a riso of Is a cwt on tho week, this prico, however, being equivalent to a shade under lOd a lb f.o.b. New Zealand. Tho cheese markot was steady. Now Zealand, white and coloured, being quoted at 565-575, equivalent to 5Jd a lb, f.o.b. Tho Dairy Board's London office reports Friday’s closing prices as follow, those for tho previous week being shown in parentheses:— . BUTTER.

New Zealand, saltod, 965-98 s (955-975; June 24, 1931, 107s-110s); unsalted, 935-104 s (965-9 a s; Juno 24, 1931, 112s-116s). 965-98 s equals approx. 9.95 d f.o.b. First whey, 90s (90s); second whey. 88s (88s). Deliveries of Now Zealand, 1540 tons; in store, 5984 tons. • Australian, salted and unsaltcd, 955-97 s (945-965; 935-965). Deliveries, Australian, 950 tons; in store, 2025 tons. Argentine, unsaltcd, 86s-88s; ox., 90s (86s-88s). South Africa, 86s-94s (86s). Irish cream, salted, 100 s (995); unsalted, 103 s (102 s). Danish, 85s f.0.b.; IOOs-lOls spot (85s; 98s-100s). Dutch, unsaltcd, 1265-1295. Esthonian, salted and unsalted, 83s90s (88s-90s). Latvian, salted and unsaltcd, 88s-Bos (88s-90s). Siberian, salted and unsalted, 86s-88s (88s). Lithuanian, salted and unsaltcd, 86s-87s. The board has also received tho following advico from its agents in Canada: — Butter: New York, 16 cents; Montreal, 163 cents per lb. CHEESE. New Zealand, white, 565, 56s 6d to 57s (565-575; June 24, 1931, 525-545) ; coloured, 565-57 s (565-575; Juno 24, 1931, 445-475). 56-57 s equals approx. 5Jd f.o.b. Deliveries Now Zealand, 22,231 crates; in store, 95,236 crates. Canadian, white, 68s-80s , (68s-745) ; coloured, 68s-72s (68s-725) ; this season’s, 55s (535). Deliveries, Canadian, 3300 boxes; in store, 74,000 boxes. English, finest farmers, 84s-86s (84s-86s). FARMING NEWS. RURAL RAKINGS. Last season Mr S. M. Purdio (Pukearuhe) took off his farm 2671 b of butterfat to tho acre. This haß been claimed to bo a Now Zealand record (states tho Taranaki Herald). , Stated to be tho largest in New Zealand, a cheese factory being erected at Waharoa will be equipped with 11 vats of 1000-gallon capacity ana will havo a manufacturing capacity of 2000 tons. Tho ravages of tho grass grub m tho Manawaru and Shaftsbury districts, about eight miles from Te Aroha, have assumed serious proportions and many farmors are having tho greatest difficulty in finding feed for their stock. In tho area affected —a belt of land roughly four to five miles long by a mile across —the grass on farms has been eaten out and first-class farming land has become a barren waste. The dairymen are making every effort to draw the Government’s attention to their unenviable plight. Vegetables of phenomenal size, stated to be only average specimens of Great Barrier produco, were brought to Auckland by a lady visitor who returned from the island. A large suitcaso contained a carrot a foot long and six inches in diameter at tho top, kumeras pine inches long, a parsnip noarly two feet long and several onions fivo inches in diameter. The visitor stated that during her visit she had seen much larger specimens, and those she had brought back were considered quite usual on the Great Barrier, where vegetables of all kinds were growing in profusion. New potatoes were already being dug, while water melons and beans were doing well. The Government of tho Irish Free State has decided to place a bounty of 2d per pound or half the amount of the tariff on the export of butter from the Free State. The Bill was introduced in the Dail re-

contly. Tho money for tho sclfomo is to be provided by a levy on production. ‘‘Tho opinion is hold,” says the London Times, “that butter prices on the British markets will touch low levels this season, and that the need for help for Irish dairy farmers is urgent. Tho bounty may be taken as tho answer of tho Irish Free Stato to the attacks mado in recent months by Australian and New Zealand butter shippers on North of England markets, where Irish butter has long held sway.” A generous offer by Mr S. G. Barnett, of Tirau, has boon laid before the Matamata Unemployment Committee. •Mr Barnett, who is the ownor of 313 acres of dairying land at Tirau. is prepared to tako two unemployed families, for whom ho will provide two acres each. On one section thero is already a houso, and on tho other he expects the Unemployment Board to erect a house. , Ho will guarantee nine months’ employment for each family at a minimum of £1 per week, plus milk, firewood, etc.; this sum to bo subsidised by tho Unemployment Board. If at tho end of nino months tho families proved to bo potential farmers, he will then establish them on a 50-acro block each, provided tho Government acquires tho land on the basis of Government valuation of £ls per acre, and provided that tho land reverts to tho I.i.p. tenure, in ordor to prevent trafficking in it. Mr Barnett said it would not bo necessary for tho mon to find horses or implements, as ho would provido them for the first threo years. In addition ho would see that tho mon established got good quality heifer calves from, his own herd for two years, in order to givo them a start. Ho would also generally suporviso their activities to tho best of his ability. The figures in regard to wages wero only approximate. It was decided strongly to recommend tho scheme to tho Government. Ono of tho most interesting personalities in tho dairy/ farming industry of tho Dominion is Mr J. J. Paterson, of Manaia, Taranaki, who milks over 2000 cows on shares. Half this number is farmed in Taranaki, the balance being milked on his farm at Tatuamu, in the Waikato. Mr Paterson is by far tho biggest dairy farmer in Now Zealand, and it is ' claimed that he is tho owner of tho largest dairy herd in tho world. With tho average man the control of these immenso herds of dairy cows would bo sufficient work, but Mr Paterson also farms about 10,000 sheep. Left an orphan when five years of ago, Mr Paterson, who 'is now 73, commenced work at the early ago of nino, being apprenticed when 14 to a ■ blacksmith. After his time as an apprentice was served, ho commenced business on his own account in Manaia. In the early days of that district, considerable areas of Maori land wero available close to Manaia at rcasonablo rents, which rents, in many instances, wero paid years in advance. Mr Paterson was successful in securing some of these blocks, on which ho commenced cattlo and sheep farming, gradually extending operations each year. About 25 years ago Mr Paterson decided to change’ over from grazing dry stock into dairying. Further purchases of land wero mado, in each case Native leases under the control of the Public Trusteo being preferred. Under this system of purchase, the only outlay was for tho improvements, thus leaving, tho purchaser a capital available for erecting tho dwellings, sheds, and purchase of dairy stock. Mr Paterson built up. his herds until ho had over 200 cows milking.

FOREIGN EXCHANGES. LONDON, June 24. The following rates on foreign exchanges were current to-day, as compared with

FROZEN MEAT. LONDON, Juno 25. Australian sheep.- —First) quality crossbreds, and/or Merino wethers 40-65, 23d; second quality, 30-55 2|d. Ewes, 30-55, 23d. Argentine sheep.—First quality crossbred wethers, 48-64, 3d; 65-72, 2|d; over 72, none offering. Patagonian sheep. Wethers and/or maiden ewes, under 50, 3d; 50-60, 2jd. Ewes, 40-50, nono offering. Australian lamb. —Victorian, first quality 361 b and under, 5Ad; 371 bto 421 b, si’ci. Other States, first quality, 361 b and under, sd; 371 bto 421 b, sd. Victorian second quality, 361 b and under, sd; other States, second quality, 361 b and under, 43d; all States, third quality, sd. Patagonian Lamb. —First quality, 361 b and under, 43d; 371 b to 421 b, 43d; second quality, average 301 b, 43d. Australian Pigs.—First quality, 601 b to 1101 b, average 901 b, 4|d; 1111 bto 1201 b, 4Ad.

Tho Now Zealand Moat Producers’ Board is in receipt of tho following cable from its London office dated Juno 24: —Tho following aro tho approximate averago prices realised for the week ended June 24, based on actual transactions of wholesalo quantities of tho descriptions of meat mentioned and aro for reprosontativo parcels of tho goods offering during the wcok, being for business done on the basis of delivered to Smithfiold markot and/or ex London stores. (Prices for tho two previous weeks aro also shown): —Now Zealand shoop: Canterbury and North Island selected crossbred wothers and maiden ewes, 48-56, 3j|d (3id, 3Jd); 57-64, 3Jd (3Ad, 3gd); 65-72, 3d (3Ad, 3Id); North Island crossbred wethers and maiden owes, 48-56, 3Ad (38d, 3gd); 57-64, (3id, 3id); 65-72, 3d (3jd, 3id); ewes, 48-under, 2|d (3d, 3d); 48-64, 2§d (same) ; 65-72, 2gd (samo). New Zealand lambs: Canterbury, 36-under, 6d (6Ad, 6jd); 37-42, 6d (6id, 6Ad); 43-50, 6d (6Ad, 6id): second quality, averago 33, s&d (sjjd, 53d) ; other South Island brands, 36-under, sgd (64d, 6Ad); 37-42, s£d (6d, 6id) ; 43-50, 6d (6d, 6i.d); selected North Island brands, including Downs, 36-under, 6Ad (6§d, • 6§d); 37-42, 6d (6Ad, 6gd) ; 43-50, 6d (6Ad, 6RI) ; second quality, average, 31, 5Ad (s|a, 53d) ; other North Island brands, first quality, 36-under, 53d (6d, 6Ad) ; 37-42, 53d (6d, 6id) ; second quality, averago 31, 5d (5Ad, sj)d). Australian lambs: Victorian, first quality, 36under, sid (5Jd, 53d); 37-42, 54d (s|d, 53d). Argentine lambs: First quality, 36-under, 5d (sid, sid); 37-42, 5Ad (5Ad, sd). New Zealand beef: Not quoted. Argentine chilled bocf: Ox fores, 23d (34d, 4|d); ox hinds, 53d (6d, 6Ad). Australian frozen beef: Ox crops, over 1001 b, 3Ad (33d, 33d); ox hinds, over 1601 b, 4^d. (4id, 4AcI). New Zealand prime porker pigs: 60-1001 b, 4Jd (43d, sd) ; 1011201 b, 4id (4id, 4gd). New Zealand prime baconor pigs, 121-1801 b, 5d (same),. Lamb market . easier owing to heavier arrivals and continued selling pressure. Early supplies of home-killed aro also affecting demand. Mutton markot: Weaker in sympathy with lamb. Beef market: Heavier arrivals of Australian beef and low prices of Argentine chilled beef havo eased prices. New Zealand porker pigs: Trade slow owing to warm weather. New Zealand baconer pigs: Nominal. Levin and Co., Ltd., have received the following cable from their London agents, dated Juno 24: Frozen meat _ quotations (prices on a “delivered” basis, i. 0., including storago charges, cartage, market tolls, etc.) : North Island Down lambe, 28-361bs, 6id per lb; 36-421bs, 64d; best North Island crossbred lambs, 28-361bs, s§d; 36-421bs, 53d; North Island seoond quality lambs, average, 30-311bs, sd; best North Island wether sheep, under 481bs, 4Ad; 48-561bs, 3§d; 56641bs, 3Ad; 64-721 b«, 3d; North Island ewes, under 481hs, 23d; 48-561bs, 2id; 56-64 lbs 2gdl; 64-721bs, 2Jd; New Zealand prune ox beef, 160-2201b5, nono offering. Compared with last week’s quotations, North Island Down lamb. 28-361bs, Ad per lb lower; 36-421bs id per lb lower; best North Island crossbred lamb, 28-361bs, Ad per lb lower; 36-421bs, gd per lb lower; North Island second quality lamb, Ad per lb lower; best North Island wothers, under 641bs, id per lb lower; North Island ewes, under 56 lbs, id per lb lower; others unchanged. The market is depressed and future prospects not very promising.

RAW MATERIALS. LONDON, June 25. Friday’s closing prices for the following raw materials were as follow, those for Juno 17 being given in parentheses:— Cotton.—Liverpool quotation, American middling, spot, 4.38 d per lb (4.31 d); Julj delivery, 4.09 d per lb (4.07 d). Rubber—Para, 33d per lb (same): plantation smoked ribbed sheet, 1 13-16 d per lb June July shipment, £ls per ton (not quoted). „ , Copra.—July-August shipment, South Sea £l3 2s 6d per ton (samo); plantation Rabaul, £l3 5s per ton (same). Linseed Oil.—£l4 per ton (same). Turpentine.—s9s 6d per cwt (595). Osmiridium.— Unchanged.

WELLINGTON STOCK EXCHANGE. LAST WEEK’S BUSINESS AND TRICES. Firm and active conditions marked tho stock and share markot throughout the Dominion last week, and tho volume of actual business done was well above the averago of tho last few weeks. Substantial gains were recorded by a number of the leading investment stocks and shares. The turnover was fairly large in Government and local-body securities, banks, insurance and mining shares. The gilt-edged sections of the markot wero very firm, especially Government securities. The demand for these was particularly keen, and prices hardened substantially. Dealings, wero confined almost wholly to inscribed' stock. The 44 per cents, advanced to £93 10s for the 1938 maturity, and to £93 17s 6d for the 1939’5. The 54 per cents., 1937, sold at a premium of up to 7s 6d, and thero was a sale of tho 54 por cent. 1936 at £IOO _los. Auckland local-body debentures, espcially harbour board stock, had most dealings in this section and sold at firm rates. In the bank section, which was mainly firm, New Zealands hod by far the largest turnover, and they advanced during the week from 40s 6d up to 435. National of Now Zealand, which opened with sales at 595, hardened up after the announcement of the final dividend for closing sales at 62s and 638. Commercial of Australia were dealt in at 13s 6d up to 14s. Union of Australia were rather unsteady with sales at £6 19s and £7 down to £6 16e. There was ono transaction in Commercial of Sydney at £l3 19s. In tho financial section, transactions were on a limited scale. Goldsbrough Morts firmed from 19s 5d to 20s 3d, with dosing sales at 20s, cum. dividend. There were three sales of New Zealand and River Plate at 225. Now Zealand Insurance sold at 37a lOd to 38s, and South British Insurance, which touched 51s 3d, wore steady, sellers at 51s. Standards were dealt in at 39s 6d, and National at 11s 4d. There wa3 not a great deal doing in tho gas, meat, brewery and miscellaneous sections. Auckland Gas bad a solitary sale at 21s. N.Z. Refrigorating, £1 paid, sold at 10s lOd and the 10s paid at 4s. Kauri Timbers sold at 9s. Tooth’s Brewery had threo sales at 25s 9d, and New > Zealand Breweries were done at 24s 6d and 24s 7d, cum. dividend. Wilson’s Cement sold at 26s up to 26s 3d, British Tobaccos at 27s 3d to 27s 9d. Union Soap and Oil at 20s. Australian Glass at 35s 6d and 35s 3d, Farmers’ Trading at 3s 5d to 4s, and Colonial Sugar at £4l 5s and £4l 10s. There was a fairly good business in mining shares. Waihis moved up from 13s 9d to 15s, Mount Lyells from 16s 7d to 17s 2d, and Okantos from 9s to 9s 6d. Taranaki Oil sold from 9d to Is, the firming being due to tho announcement of the Vaccum Oil Company s intoreat.

SATURDAY’S QUOTATIONS. Buying and selling quotations at Saturday morning’s call on the Wellington

SATURDAY’S SALE. The following sales wero recorded on the stock exchanges of tho Dominion on Saturday: Wellington. —Nil. Auckland.—lns. Stock, 54 p.c., FebAug., 1936, £IOO ss; Wilson Cement, £1 6s

3d; N.Z. Insurance, £1 18s; Taranaki Oil, Is 6d. Christchurch. —Bank of New Zealand, £2 3s; Goldsbrough, Mort., cum. div. £1; King Solomon, Is; Okarito, 9s 6d. Dunedin. —Salo reported : Bank of New Zealand £2 2s 9d.

par:— June 24. Par. New York, dol.- to £1 3.61 4.866 Montreal, dol. to £1 . 4.145 4.866 Paris, francs to £1 . 91 13-16 124.21 Brussels, bel. to £l . 25.95 35.00 Geneva, francs to £1 . 18.55 25.225 Amsterdam, florins to £1 8.945 12.107 Milan, lire to £1 7015-16 "52.46 Vienna, scligs. to £1 33 34.585 Berlin, marks to £1 . 15 7-32 20.43 Stockholm, knr. to £1 19 15-32 18.159 Copenhagen, knr. to iii 1811-32 18.159 Oslo, knr. to £1 .... 20 5-16 18.159 Prague, knr. to £1 . 122 164.25 Helsingfors, marks to £1 215 193.23 Madrid, pes. to £1 . 43 13-16 25.225 Lisbon, esc. to £1 .... 110 110 Athens, drach. to £1 . 557.50 375 Belgrade, din. to £l . 225 276.31 Bucharest, lei to £1 . 620 813.50 Warsaw, zlotj to £1 — 43.38 Rio de J., p. to mil. . *5 16.70 B. Aires, p. to peso . # 47.62 M. Video, p. to peso . *30 51 Calcutta, p. to rup. . Shanghai, p. to tael . 17 61-64 18 19 13-16 — H.-Kong, p. to dol. . 15i — Y'hama, p. to yen . 19.25 25.582 Batavia, florins to £1 ... ‘Nominal. 9.00 12.107

Stock Exchange were as follow: Buyers. Sellers. N Z GOVT. LOANS— £ s. d. £ a. d. p.c. Bonds, 1939 ... 93 6 — 41 d.c. ditto, 1938 93 0 0 — 5i p.c ditto, Feb, 1937 100 2 6 — 5J, p.c. ditto, Sep, 1937 100 2 6 100 12 6 51 p.c. ditto, 1933 93 7 b — 5A p.c. ditto, I96'i 96 10 0 — 0 0 — 4A p.c. ditto, 1938 93 7 6 93 17 6 51 p.c. ditto, Feb, 1937 100 51 p.c. ditto, Sep, 1937 100 5 0 — 5 0 100 12 6 51 p.c. ditto, 1941 95 DEBENTURES— 0 0 u Well. Gas Co 99 0 1939 96 Clich. nnd Dunedin City, 0 51 p.c., 1944 97 0 0 Well. City, 5i p.c., Mar., 1934 — 100 5 0 Well. Harb. Bd„ 51 0 p.c., 1940 98 0 Hauraki Flams, 51 p.c., 1943 Waiuku Water, 51 p.c., - 96 0 96 0 0 0 1955 — Makerua Dm. Bd., 6 p.c., 1950 Mt. Eden Boro., 51 p.c.. - 94 10 0 1944 93 0 0 — BANKS— Australasia , — 9 7 National N.Z — *3 2 New South Wales .... 25 0 0

New Zealand 2 2 7 Ditto, long term 15 6 1 5 9 FINANCIAL — Equitable Bldg. Co. ... — 5 0 0 Abraham and Williams, ord — 2 0 0 Ditto, pref — 3 5 0 N.Z. Guar. Oorp., ord 0 4 1 — Well. Invest., T. & A. — 0 7 6 Well. Dep. and JVlort. — 0 8 6 GAS— Christchurch 15 0 — Ditto, contr; 0 12 0 — Wellington, ord 1 7 3 Ditto, pref 0 15 6 — INSURANCE— National 0 11 5 0 11 9 South British 2 10 9 — Standard 1 19 3 — MEAT PRESERVING— Gear 17 9 — N.Z. Refrigerat. (£1) — 0 11 3 Ditto (10s) 0 3 10 — TRANSPORT— Huddart, Parker, ord. 116 — Union Steam, pref. ... 0 18 9 — P. and O. def. stock 0 15 0 — WOOLLEN— Wellington, ord. ...... 4 4 0 — COAL- B „ £ ,• Westport 0 9 6 — TIMBER— National — — 0 4 0 Loyland-O’Brien — 1 1 0 Taringamutu — 0 4 9 BREWERIES— Carlton 17 0 — New Zealand 14 0 *1 4 9 Tooth and Co 1 5 0 — MISCELLANEOUS— British Tobacco, ord. *17 6 — Burns, Philp and Co. — 2 0 6 Colonial Sugar 41 0 0 42 0 0 Dental and Medical ... 0 5 0 0 6 0 Electro. Zinc, pref. ... 0 19 3 — Howard Smith, ord. . — 0 8 9 National Electric — 0 10 0 N.Z. Drug 2 7 9 — N.Z. Paper Mills 0 18 0 — Wilson’s Cement 16 0 — Woolworths’, pref. ... 1 4 0 — OIL — Moturoa ~ 0 4 0 Taranaki 0 1 6 — MINING— „ „ Mount Lye 11 0 16 11 0 17 6 Waihi 0 15 0 — Okarito 0 9 3 — Blackwater 0 8 6 •— Consol. Goldfields 0 3 2 0 3 4 *Cum. dividond.