BEET SUGAR INDUSTRY.

New Zealand Herald, Volume LXIV, Issue 19626, 3 May 1927, Page 7

BEET SUGAR INDUSTRY.

DISCUSSION AT CL.UTHA. POSSIBILITY OF DEVELOPMENT. [BY TELEGRAPH. —OWN CORRESPONDENT.] DUNEDIN. Monday. The Ciutha branch of the Farmers' Union held a meeting on Saturday evening to discuss the possibilities of the cultivation of sugar beet in South Otago. Mr. A. Reid, of Clifton, addressed the meeting on the subject, and it was decided that a deputation of farmers wait 011 tho Minister of Agriculture during j show week. It was further decided to j invite Mr. R. B. Tennent, instructor 1 in agriculture, to lecture on the subject shortly. On the motion of Mr. Reid, the secretary was instructed to write to Lord Weir, of the Anglo-Scottish Beet Sugar Company, Coupar, Fife, to ask if the compauy would -consider the establishment of a branch factory in New Zealand. Several speakers said if the industry was to be established in New Zealand it should bo by New Zealanders themselves. INDIAN WHEAT HARVEST. OFFICIAL FORECAST. OF YIELD. A. and N.Z. DELHI, May 1. The first official forecast of the Indian wheat harvest records that 30,953,000 acres have been sown, which is an increase of 3 per cent. The total yield is estimated at 8,709,000 tons. DOMINION WOOL SALES. SEASON'S REALISATIONS. A summary of wool sold at the various centres in the Dominion during the period from November. 15 to,April,l, prepared by the New Zealand Wool Brokers' Association, was published on Saturday. Several of the figures were, however, mutilated in' telegraphic transmission. The return is as follows:—Offered. Sold. Realisation. Centre. Bales. Bales. £ "s. d. Auckland rr? 46,516 45,590 748,041 0 5, Napier ~ 92,133 87.082 1,497,975 10 2 Wanganui 61,033 57,218 087,358 13 1 Wellington .. 105i,927 103,311 1,889,117 15 9 Christchurch 73,697 72,703 1,437.364 12 9 Timaru .. 28,577 28,381 552,097 16 1 Dunedin .. 70,194 69,601 1,379,422 5 4 Invercargill „ 27,081 26,226 406,450 7 8 Giaborue .. 1.536 3,370 16,054 15 5 Totals v. 506,729 491,482 £8.914,382 ,16 8 . The average price was 12.706 d per lb. and £lB 2s 9d a bale. According to Messrs. Dalgety and Company's report for the 1925-26 season, the sales then comprised 491,582 bales, for a total of £8,262,847, averaging £l6 16s 2d a bale. NELSON APPLE CROP. 550,000 CASES FOR EXPORT. It is estimated by the Nelson Mail that some 350,000 cases of apples will be exported from that district this season. According to figures supplied by Mr. D. Neal, Nelson agent of the New Zealand Fruitgrowers' Federation and Fruit Control Board, the present guarantee of lis 6d per case is equivalent, roughly, to 2s 6d for the apples contained in the case. The ' 350,000 eases at? 2s 6d a case is equivalent to £43,750 and every shilling above, the lis 6d guarantee realised on the season's export means another £17,500 coming into the district. Therefore, supposing c-nly 12s 6d a case were realised, the amount coming into the district- would be £61,250. As a matter of fact, tho lowest price realised so far this season is 14s, and if that be maintained —ignoring higher prices realised and likely to be realised—the net return will be increased by another £266,250. Savings this season on ocean freight are fid per case, and holdings at Port Nelson account for a saving of 9£d and 2Ad to 3d for shipments from Mapua and Motueba. INVESTMENT COMPANY. DIVIDEND OF 7 PER CENT. [B? TELEGRAPH. —OWN CORRESPONDENT. I WELLINGTON. Monday. The 21st annual meeting of shareholders in the New Zealand Investment, Mortgage and Deposit Company was held to-day. Mr. W. G. Foster presided. The. chairman said that during the year money had been circulating; freely and prospects were equally promising but fears were not lacking that the country was borrowing too heavily and spending too freely. The reduction* of tho London bank rate and the Dominion's budget surplus were both consoling factors in the present situation. The year's business of the company showed a net profit of £3398 Is lid, to which was added £660 12s 9d brought forward from the previous year, making a total of £4058 14s Bd. An interim dividend at the rate of' 3 per cent, absorbed £951 3s. leaving £3107 lis Bd, A further dividend at the rate of 4 per cent, was declared, making 7 per cent, for the year. This absorbed £1275 10s, leaving a balance of £llß2 Is 8d to be carried forward, after adding £650 to the reserve fund, which now stands at £5650. Capital during the year had been increased by the issue of 1200 new shares, the sum paid np now being £32.305. Deposits flnd accrued interest showed an increase of £4932 16s 6d: mortgages were £8398 1% lOd higher than last year; special deposits had decreased by £ISOO. The company's net profits in 1924-25 were £2378 and in 1925-26 £3037. In both years a dividend of 7 per cent, was ( paid. i Fiji TIMBER SUPPLIES. LOOKING TO THE FUTURE. [from our own corp.espondk.vt. ] SUVA. April 20. A forestry expert, Mr. J. Mead, whose services were lent to the Fiji Government by the authorities of the East Indies, Is, now working over tho forest lands of the colony with a view of determining what fyad best be done to conserve what we have and what should be done to make Fiji self-contained in her timber supply. A recent visitor from Portland, Oregon, Mr. Campbell, speaks in warm terms of the Fiji woods, but points oat what is generally reoog- \ msed as the two main drawbacks to ( production, viz., the scattered and j mixed growth of the valuable timbers, ! arid, secondly, the lack of suitable : streams whereby to transport lumber to the coast from the highlands, when the supply now available on the slopes along the coastlines are cut out. For these reasons chiefly timber most be expensive, after a few years, to obtain within Fiji. There can be no doubt as to the high value of the indigenous timbers meh a* vesi, yak a, dam&nu, hoabua, risns, Fiji kauri, "and many other varieties, but at present the supply is limited, and this scarceness is more likely to intensifv. The Governor is an enthusiast lon afforestation, and it is most likely {that when he receives Mr. Mead's, report I steps will he taken to lay before the | Legislature a scheme s&feguaninig i vrhai we have and increasing the forests of Fiji, by planting up many of the | best and most valuable commercial tim- } ber trees. Tb« climate and soil are j both adaptable to quick growth and | good quality.