FARMING AND COMMERCIAL

Manawatu Standard, Volume LII, Issue 225, 23 August 1932, Page 5

FARMING AND COMMERCIAL

DAIRY INDUSTRY. TIAKITAHUNA COMPANY. SUPPLIERS’ ANNUAL MEETING. Tho season’s activities were reviewed at the annual meeting of suppliers and .shareholders of tho Xiakitalmna Co-operative Dairy Company yesterday. Air Al. Richardson (chairman of director,) presided. Tho report stated: —“Tho supply and output for tl 10 year arc as follow:—Quantity of cheese manufactured, green weights, 134 s tons, 19cwt, 2qrs, 20!bs; quantity of cheese manufactured, grader’s weights, 132 ton lOcwfc lqr 271bs; average shrinkage from green weights to marked weights, 1.49 per cent.; average shrinkago from marked weights to salo weights, for what wo have account salo for, 2.19 per cent.; total milk received for checseniaking, 2,711,4981b5; total buttorfat received for cheesemaking, 112.441.341b.->; average test, 4.158; avorago yield of cliocso to each pound of butterfat, 2.65, grader’s weights; average pounds of milk to each pound of cheese, 9.10, grader’s weights; avorago price paid per pound of buttorfat for cheesemaking, 10.07 d. At Juno 30, 1932, there were 480 orates unsold, and for balancing purposes theso were taken into account at 58s per cwt. Tho balance to tho credit of tho appropriation account is £856 17s lid, and tho directors recommend a further payment on buttorfat used for cheesemaking. mado up as follows: —IRI for August, ijd for November, 3RI for December, 2Jd for January, 2RI for February, l§d for Alarch, 3id for April, and 2RI for May and Juno, which will absorb the sum of £35 5s lOd, and will make an average payment for tho •season of 11.89 d. leaving a balance of £2l 12s Id to bo disposed of as tho meeting may decide."

Moving t.hc adoption of the report:, tho chairman commented that tho paid-up capital was the samo as that of last year. Tho suppliers’ buttorfat deduction account was also the same as last year and represented the accumulated deductions of £d from suppliers’ accounts prior to 1928. Tho id deducted during tho past season, amounting to £239 Is, had been transferred to tho depreciation reserve. The financial position of tho company was much stranger than last year, ns would be shown by tho following figures: After making allowance for all payments (including the final payment) and for all credits, the overdraft last year should have been £1478 4s lid, and by tho samo method this year tho _ amount should be £1434 7s 6d, hut against that figure was a credit of £239 4s sd, leaving u balance of £1195 3s Id. Tho £239 4s 5d credit had been created in pursuance of the directors’ policy of paying into a separate account from month to month a similar amount to that deducted from suppliers’ accounts at the rate of jd per lb of butterfat, thus strengthening financially the position of the company. The unfortunate weather conditions at tho beginning of last season had greatly affected the production figures, but the directors had reduced expenses wherever possible without affecting the efficiency of tho factory. At the end of tho season there had been a fairly largo quantity of cheese unsold, and that had been valued at 58s per cwt (London). The chairman anticipated that production this season would be greater than ever, and in manufacturing greater production meant less cost per pound and a greater bonus. The efforts of suppliers had enabled tho company to maintain a high quality of cheese, and continued efforts in that direction were solicited. The thanks of tho shareholders were duo to the manager (Air Ross), and his staff, and to tho secretary (Mr A. E. Alansford), for their endeavours in the interests of the company. Air Richardson concluded with thauvs to members of the directorate for their co-operation and support during tho season. Hie report was adopted.

Messrs AI. Richardson, H. J. P. Parker and E. P. Noilsen, tho retiring directors, were re-elected and Air P. L. Sim, the auditor, was re-appointed. It was agreed to issue bonuses as the directors recommended. The matter of interest payment on share capital was held over until the next annual mooting. The manager, the first assistant, the secretary and the directors were accorded votes of thanks. LONDON MARKETS. HIGH COAI MISSIONER'S REPORT. The Department of Agriculture has received tho following cablegram, Uatcd August 20, from tho High Commissioner for New Zealand, London:—

Tallow. —Market firm on spot and most of the parcels unsold at auction subsequently cleared at 6d per cwt advance. Fair business done in lower grades for shipment at an advance. Hemp.—Manila market dull and easier, but steadier at the close. “K” grade August-Octobcr shipment quoted at £l6 ss. Output from January 1 to August 15 was 541,000 bales, against 749,000 for same period last year. Stocks in tho United Kingdom on July 31 were 27,842 bales, against 26,148 at samo time last year. Stocks in Manila ori August ] were 130,000 bales, against 108,000. Sisal market firm and active. No. 1 good marks August-October shipment sold at £l6 2s 6d and No. 1 fair average quality quoted at £ls 15s. Ncvv Zealand market unchanged on the basis of fair £l4. No firsthand sales reported. Stocks in London on July 31 were 125 ions, against 12 tons at same time last year.

Eggs.—Market firm, with smaller arrivals. English, national mark, 13s to 16s. English, ordinary pack, 13s to 14s. Danish, 9s 6d to 12s 6d.

Fruit.—New Zealand apples: Trade slow but steady. Stores are cleared and brokers’ stocks very limited. Current prices: Granny Smith apples, 11s to 16s, condition variable; Dougherty apples, 12s to 14s; Stunner apples, 11s to 13s, few wasty.

HORSE SALE AT FEILDING. Associated Live Stock Auctioneers, Ltd., report on the supplementary horse sale held at Fcilding on Saturday:—The op try of over 100 horses again drew a large attendance of the public and keen in?crest was taken till practically the end of the offering. With the exception of two, the unbroken horses were light weights. Prices throughout compare favourably with tho last sale, tho quality of horses generally being not so good. Quotations: —Unbroken: 3-year draught fillies, £34. £3l 10s; 4-year draught geldings, £27 10s; 4 and 5-year light draughts, broken to lead, £25. £22, £2O, £lB 10s; light horses, broken to lead, £l6 10s, £13 4 £6 15s, £5; 3-year hack filly. £6; yearling colt, £6 15s. Broken horses: Best draughts, £35 10s, £35, £33, £3l 10s to £23 10s: others, £2B to £26; aged, £l3 10s to £6 10s; hacks and ponies, £5 5s to 20s.

FARMING NEWS.

RURAL RAKINGS.

Dairy herds are now coming in for tho commencement, of tho new dairying season in Ilawke’s Bay. A line of fat cows recently sold by a prominent South Taranaki farmer realised £6 15s each, whereas a while ago similar animals were being sold at about £2.

“All slieep should bo shown in natural condition,” declared a member of tho Ashburton A. and P. Association, and his opinion was backed by several other speakers, who said tho sheep should bo taken straight from the paddocks to the show pens (reports tho Guardian). “At tho present time,” the first speaker said, “wo cannot tell where Nature ends and the artist begins.” An officer of the Hastings branch of the Department of Agriculture, who has just returned from a visit to tho Norsewood area, expressed surprise at the keen manner in which sheep take to the eliou moellier crops, which several farmers have

grown in that district. He stated that ho was present on one property when tho sheep wore allowed on to sl chon moellier patch and the manner in which they lined tho fence, waiting for tho gate to bo opened, was evidence of their liking for this particular form of green feed. Chou moellier is undoubtedly growing in popularity about Hawke’s Bay as a green crop.

GOLD AND SILVER. LONDON, Aug. 20. Gold. —£5 18s 9d per lino ounce. Silver.—Cash, 17 15-16 d per oz; forward, 18d.

WELLINGTON STOCK EXCHANGE. YESTERDAY’S BUSINESS AND PRICES. l'irm ami active conditions again ruled in the Wellington stock and share market yesterday. Quotations for Government securities covered (he 5£ and per cents. Ihe latter were slightly easier on sales at £95 5s for the 1939 maturity and £95 2s 6d for tho 1938’5. There wero other buyers in the market at £95, hut sellers asked 7s 6d to 10s higher. The 5£ per cents, especially the September, 1937, maturity, wore very firm. Littlo business was offering in the debenture section. Wellington Gas debentures jumped £1 to £lOl 5s without attracting sellers who asked £lOl for Wellington City 5* per cents., 1934. •Wellington Harbour Board 5 i per cents., 1940, were firm at £IOO. Banks wero in active demand, but sellers wero very few. New Zealands firmed another Id to a sale at 47s 7d, and more were wanted at- 47s 4d. The long-term mortgage shares hardened 6d to 28s. National of Now Zealand firmed Is to 71s. Union of Australia were 6d up at £7, sellers asking £7 2s 6d. Commercial of Australia, ordinary and preference, and Now South Wales were unchanged. Goldsbrough, Moris were 2d easier at 23s 9d, but sellers asked 24s 6d. Auckland Gas, fully paid, firmed 3d to 21s, and tho contributing were a shade firmer at 14s 9d. Wellington Gas were wanted at 30s, sellers moving up to 31s 3d. South British Insurance advanced to 565, New Zealands to 41s 3d and Nationals to 13s. Quecnslands were 3d off at 40s 9d, but sellers kept out of this section. There was an active inqfiiry for meats, shipping and woollens, but sellers did not respond. In the timber section . Kauris at 10s 3d, Leyland-O’Briens at 19s 6d and Nationals at 3s had inquiries, sellers asking 5s 3d for the last-mentioned. Breweries were in strong request at late rates, as were loading industrials. Electrolytic Zinc, preference, firmed to 235, sellers asking 6d higher. Mount Lvells sold lato on Saturday at 20s Id and more were offering yesterday at 20s 6d. YESTERDAY’S QUOTATIONS. Buying and selling quotations at yesterday’s linal call on the Wellington Stock

YESTERDAY’S SALES. Tho following sales wero recorded on the stock exchanges of the Dominion yesterday:— n n Wellington.—lnscr. stock, 4 2 p.c. 1939 (2), £95 ss; ditto, 4j p.c., 1938, £95 2s 6d; Bank of New Zealand, £2 7s 7d; Mount Lvell, *£l 0s Id: King Solomon, *ls 9d. *Lat o sale Saturday. Auckland. —Inscr. Stock, 5$ P- c - > 1936, £99: Conmi. Bank of Aust., prof., £6 17a 3d; Bank of N.S.W. (2), £26 17s 6d; Union Bank, Melbourne) reg., £7 2s; N.Z. Insurance, £2 2s; N.Z. Breweries (3), £1 7s 3d, £1 7s; N.Z. Refrig., £1 paid, lls 9d; Wilson's Cement, £1 10s; Okarito, 8s 4d; Wailii, 16s: Grand Junction, 2s 8d; Colonial Sugar, £44 15s; Australian Glass, £1 19s 9d. Christchurch. —Commercial Bank of Aust. (5), 14s; Union Bank of Aust., £7 2s 6d; Goldsbrough, Mort, m 4s, £1 4s 3d; Auckland Gas, £1 2s: N.Z. Breweries (7), £1 7s; Electrolytic Zinc, pref., £1 2s 9d; Mount Lyoll (2). £1 0s Id; Cornish Point (2) 3d; Golden Dawn, 4s lid, ss: Golden Point (2), 8d; Mahakipawa, pref., s£d; Okarito, 8s 3d; King Solomon. Is lid. Sales reported: N.Z. Refrigerating, £1 paid, lls 9d; N.Z. Breweries (2), £1 7s, (3) £1 7s 2d; N.Z. Drug, £2 17s 3d; Dalgety and Co.. £7 14s. Dunedin.— Gillespie's Beach, prem.. jd. Sales reported: Wailii, 15s; Okarito. 3s 2d.

SYDNEY STOCK EXCHANGE. SYDNEY, Aug. 22. Tho Sydney Stock Exchange indulged in active trading to-day. Commonwealth bonds moved within narrow limits, and there was little variation in bank, steam, insurance, and gas scrip. There was strong inquiry, however, for breweries and Australian Glass. Barrier stocks were firm. Sales: Bank of Australasia, £11; Bank of New South Wales, £29 17s 6d; Mercantile Mutual Insurance, 16s 7jd; Colonial Sugar, £49 15s; Burns, Philp, 44s 6d; Howard Smith, 10s 6d: Australian Glass, 44s 6d; Milliquin Sugar, 26s 6d; Electrolytic Zinc, 17s 3d; Wiuchombe, Carson, 23s Goldsbroughs, 27s 3d; Australian Gas A, £6 lls 6d; Tooths, 32s 9d; Tooheys, 20s 7id; British Tobacco, 33s 7sd; Dunlop I’erdriau, ,14s lOd; Broken Hill Ppy., 19s 4jd; North Broken Hill, 695; South Broken Hill. 48s; Zinc Corporation, 30s; Mt. Lycll, 22s 9d. Commonwealth bonds, 4 per cent., 1938, £99 10s; 1941, £99 7s 6d: 1944, £99 ss; 1947, £99 lls 3d: 1950, £97 17s 6d; 1957, £93 7s 6d; 1959, £9B 15s; 1961, £9B 17s 6d. MELBOURNE, Aug. 22.

Sales: Commercial Bank of Australia, 15s lid; Colonial Sugar, £SO 7s 6d; Dunlop Pcrdriau, 14- lid; Electrolytic Zinc, pref.. 265: Gordon and Gotrli, 29s 3d: Soulli Broken Hill, 48s; Mt- Lyell, 22s 6d; Taranaki Uil, Is 9d.

EXCHANGE RATES. LONDON, Aug. 20. The following rates on foreign exchanges were current to-day, as compared with

•Nominal.

FRUIT EXPORT GUARANTEE. Per Press Association. WELLINGTON, Aug. 22. A decrease in tho Government fruit export guarantee to 10s for fancy and extra l'rancy and 6s 6d for good grades is announced by the Prime Minister. In addition, a levy of jd per case on all exports will be made to meet the charges arising out of the services of Government officers engaged in tho grading and inspection of export fruit.

EGGS AND EGG-PULP.

QUANTITIES IN COLD STORAGE

A return to the Minister of Internal Affairs, lion. A. Hamilton, by tho Government Statistician shows that tho quantity of eggs and egg-pulp in cold storage at July 31 was as follows:

Exchange were as follow: — Buyers. Sellers. X.Z. GOVT. LOANS— £ s. d. £ s. d. 4j p.c. Bonds. 1939 ... 95 0 0 — 5£ p.c. dilto, 1936 — 99 15 0 p.c. ditto. Sep, 1937 101 7 6 — 4l p.c. Ins. Stk., 1939 95 0 0 95 7 6 c s o 0 95 10 0 p.c. ditto, 1933 — 99 15 0 5-2 p.c. ditto, 1936 98 17 6 99 15 0 5s p.c. ditto, Feb, 1937 — 99 12 6 p.c. ditto, Sep, 1937 — DEBENTURES101 10 0 Wellington (las Co. . 101 5 Well. Citv, 51 p.c., 0 1934 — 101 0 0 Weil. Harb. Bd., 5$ p.c., 1940 100 0 Eastbourne Boro., 6£ 0 ... p.c., 1952 — Hauraki Plains, 52 p.c., 97 0 0 1959 — 97 0 0 BANKS— Commercial Aust., ord 0 13 11 — Ditto, pref 6 16 0 — Eng., Scot, and Aust. 4 1 6 — National X.Z 3 11 0 — Now South Wales ... 26 15 0 *27 5 o. New Zealand 2 7 4 — Ditto, long term 1 8 0 — Union of Aust 7 0 FINANCIAL — 0 7 2 1 4 6 Goldsbrough, More ... 1 3 9 6 X.Z. Linar. Oorp., ord 0 5 X.Z. Loan and Alerc., 6 ord. 38 0 0 — GAS— 0 Ditto, contr 0 14 9 — Wellington, ord 1 10 INSURANCE— 0 0 1 11 5 National 0 13 — New Zealand 2 1 3 — Queensland 2 0 9 — South British 2 16 M HAT PRESERVING— 0 Gear 1 12 3 — X.Z Refrigerat. (.LI) 0 11 6 — Ditto (10s) 0 4 6 — Well. Meat Ex., prof. 0 12 0 — Ditto, ord 0 6 10 — TRANSPORT— Union Steam, pref. ... 0 19 11 — WOOLLENMosgicl h 15 0 Wellington, ord +4 10 TIMBERKauri ® o Ley land-O’Brien 0 19 6 0 0 5 3 0 4 6 BREWERIES0 New Zealand 1 b 11 — Staples and Co 1 2 Tooth and Co 1 * 0 MISCELLANEOUS— 0 British Tobacco, ord. 1 9 45 15 Electro. Zinc, pref. ... 1 3 0 1 3 6 New Zealand Drug ... 2 15 0 N.Z. Farmers’ L'er0 14 3 N.Z. Paper Mills — 1 4 0 Slmrland and Co., ord 0 14 0 Ditto, pref 0 4b o Wilson’s Cement 1 9 Wool worths, pref 1 o OIL— „ , 9 Moturoa — “ “ o .MINING— 0 13 Blackwator —• King Solomon 0 1 7 T“ Mahakipawa, pref. ... 0 0 4 . Big River, Is paid ... 0 1 6 9 — ♦Cum. dividend. +Ex. dividend.

par: — Aug. 20. Par. Now York, dol. to £1 ... 3.47| 4.866 Montreal, dol. to £l 3.98 4.866 Faria, francs to £1 83.50 124.21 Brussels, bel. to £1 25 35.00 Geneva, francs to £1 Amsterdam, florins to £1 17.835 25.225 8.625 12.107 Milan, lire to £1 67.625 92.46 Berlin, murks to £1 14.575 20.43 Stockholm, knr. to £1 ... 19.475 18.159 Copenhagen, knr. to £1 18.75 18.159 Oslo, knr. to £1 19 31-32 18.159 Vienna, seligs. to £1 *30 34.585 Prague, knr. to £1 117.25 164.25 Hol’fors, marks to £1 ... 232.50 193.23 Madrid, pes. to £1 43.125 25.225 Lisbon, esc. to £1 110 110 Athens, drach. to £1 555 375 Belgrade, din. to £1 Bucharest, lei to £1 — 276.31 590 813.60 Warsaw, zloty to £1 Rio de J., p. to mil — 43.38 *$k 47.62 B. Aires, p. to peso 47.62 M. Video, p. to peso *30 51 Calcutta, p. to rup — 18 Shanghai, p. to tael . 213-8 — 11.-Kong, ]). to dol 16 3-16 — Y’hama, p. to yen 15.875 24.585 Batavian, gl. to £1 8.68 12.107

North South DoIsland. Island. minion Kggs in shell (doz.) 1,140 736 1,876 Egg-pulp (lbs) 38,738 25,515 64,253 Erozen whites libs) . 700 900 1,600 Egg-volk (lbs) — 1.360 1.360 Tho figures for Juno 30 were as follow: North South DoIsland. Island. ininion Fggs in shell (doz.) 2,870 1.568 4,433 Egg-pulp (lbs; 79,880 45,515 125.395 Frozen whites (lbs) . 300 98C 1.88C Egg-yolk (lbs) 1,400 1,400