HAWKE'S BAY FARMERS

New Zealand Herald, Volume LXIX, Issue 21245, 27 July 1932, Page 7

HAWKE'S BAY FARMERS

OPERATION OF ASSOCIATION SLIGHTLY LOWER DIVIDEND The accounts of tho Hawko's Bay Farmers' Co-operative Association, Ltd., which were adopted at the annual meeting afc Hastings last week, showed a profit of £7179, after provision for depreciation on buildings, plant, etc., and for estimated amount of income tax. With £7286 brought in from the previous year, there was £14,465 available for distribution, as against £15.872 last year. The directors recommended a dividend of 4 per cent, compared with 5 per cent in the preceding year, and to carry the balance forward. The report stated that the very adverse economic conditions obtaining last year had greatly handicapped the trading operations of the company. In moving the adoption of the report and accounts, the chairman of directors, Mr. J. W. Harding, said it was largely tho past prudent provision of reserves and writ-ing-down of properties, combined with reasonably cautious administration, that enabled the company to pay a dividend. THE CITY MARKETS YESTERDAY'S AUCTIONS HIGHER RATES FOR BANANAS Few important fluctuations in values at the Auckland City Markets occurred yesterday. A very slight upward tendency was evident in the fruit and produce sections, but reductions were generally the rule for poultry. Eggs remained low at i Is 4£d a dozen for first grade, but farm- I ers' butter advanced Id at 9d to Is a lb. j There was an increase of Is 6d a case for best quality repacked Island bananas, which realised up to 18s. The demand for apples and pears was still dull generally, but the Jonathan and Granny Smith varieties of the former firmed 6d a case. Australian pineapples were available at 12s to 14s a case. Hothouse tomatoes dropped 2s at 10s to 18s a case. A quantity from Sydney brought 6s to 6s 6d. Onions, at 7s to 8s 6d a bag, and cabbage, 2s 6d to 5s a sack, advanced slightly, and the demand for citron melons, which were practically unsaleable last week, also improved. Lettuce, 6d to 4s a case, was a little cheaper. In (he poultry section cockerels and roosters sold at lower rates than previously. The demand for other birds was fair, prices remaining about level. Yesterday's prices were:; — FRUIT Apples, Delicious, 3a to 5s a case; Jonathans, 3s to ss; Ballarats, 4s to 5a 6d; Granny Smith, 5s 6d to 7s; Munroes, 4s to ss; Salome, 4s to 4s Cd; Sturmers, 5s to 5s Gd; Purlins Beauty, 33 to 4s 6d; pears, Coles and Nelis, 6s to 7s 6d; Keiffers. 4s to ss; passions, local, 5s to 9s; Australian, 1&* to 13s; oranges, Island, according to count, lis to 14s a case; Australian Navels. 7s to 9s; common Sydneys, 53 6d to Gs Gd; grapefruit, local, 3s to 4s 6d; mandarins, Gs to 9s; tomatoes, hothouse, 10s to 18s; Australian, 63 to Gs Gd; lemons, 4s to 8s; tree tomatoes. 3s to 5s Gd: black, 5s to is; pines, Australian, 123 to 14s; bananas, No. 1, up. to ISs; No. 2 and mediums, 10s to 14s. FIELD PRODUCE Potatoes, Southern, 7s 6d to 8a a cwt; new, lid to 2}d a lb; onions, local, 7s to Ss Gd a bug; Southern, 7a to 12s a cental; kumaras, Island, 7s a cwt: Tauranga, 5s 6d to Gs 6d; cabbage, Is to 3s 9d a sack; cauliflower, 2s Gd to ss: swedes. Is to 2s 3d a ha' T ; pumpkins, 2s to 4s a cwt; citron melons. Is Gd to 2s Gd a sack; green peas, 7J to 3d a lb; beans, hothouse, 8d to Is "d- lettuce. Gd to 4s a case; encumbers, hothouse, 3d to 6d a dozen; vegetable marrows, Is Cd to 3s; cabbage, loose. Is to 2s; cauliflower. 6d to ss; celery, Gd to 3a a bundle: rhubarb, 2s to 4s Gd a dozen; spinach. Gd to Is; pumpkins, loose, 2d to Cd each; spring onions, 4d to 9d a bundle: carrots, parsnips, beet and tnrnips. 3d to Gd a dozen; leeks. 2d to 4d a bundle; Brussel sprouts, 3£d to 4Jd a lb; chokos, Gd to Is a dozen. POULTRY. Cockerels, heavy breeds, prin/e, 2s 9d to 4s 9d; not prime. Is 6d upward; light, prime. Is Gd to 3s: not prime. Is upward: fat roosters, heavy, prime, Is 9d to 2s 3d; light, Is 3d to Is 9d; fat hens, heavy, 2s to 2s 9d; light, Is Gd to 2s; pullets, heavy, hest. 2s Gd to 3s 9d; smaller. 2s upward: light, nest, "s Gd to 3s Od; smaller. 2s upward: drakes voung. prime, Is 9d to 2s 9d; smaller. Is Gd upward; old, Is 3d to Is 9d; ducks young, Is 9d to 2s 9d; old. Is 6d upward; geese, 2* Gd to 3s Gd; turkey hens, 3s to 5s Gd; gobblers, 5s to 12s. DAIRY PRODUCE Hen and duck eggs, first grade. Is 4ld: 13 grade. Is 3!d; C grade, Is lid. Farmers butter, 9d to Is a lb. SEARCH FOR OIL AUSTRALIAN AERIAL SURVEY An aerial survey of the likely oilfields of Northern Queensland, Western Australia and the Northern Territory is being undertaken by the Australian Commonwealth geological adviser, Dr. Woolnough. It is anticipated that the survey will take from two to three months. It is a continuation of one previously made from Longreach. The present expedition will be piloted over tho area to be photographed by two Wapiti machines from Point Cook, the headquarters of the Royal Australian Air Force. Dr. Woolnough has with him expert photographers, who will map the areas being explored by means of .aerial photographs. Dr. Woolnough has informed the Federal Government that the aerial survey now being undertaken is an essential preliminary to deciding the areas where test boring should bo undertaken. In his official report on the preliminary aerial tests previously carried out, he stated that the results were encouraging i and satisfactory. Following tho photo- ! graphing of tho areas to be covered by ' tho present expedition thcro will be gco- ' logical surveys of tho sites provisionally ! seTected for the purpose of making tests j by light experimental bores. P. AND O. BANKING CORPORATION USUAL 5 PER CENT DIVIDEND The not profit of tho P. and 0. Banking Corporation, Limited, London, for the year ended March SI was £107,266, a reduction of £llß4 on tho amount earned in the previous year. Tho profit was struck after providing for taxation, bad and doubtful debts, and valuing investments at or below market rates. With £31,589 brought into tho accounts there is a balance of £138,855 for disposal. Out of this tho directors propose to pay a dividend of 5 per cent, less income tax, absorbing £100,999, leaving £37,856 to bo carried forward. Tho bank has a paid capital of £2,594,160, and its reserve fund amounts to £IBO.OOO. The current dividend is tho usual distribution. BUTTER FROM AUSTRALIA HUGE INCREASE IN EXPORTS [FROM OUR OWN CORRESPONDENT] SYDNEY, July 21 Tho other day a dairy expert in Now South Wales said that the quality of New South Wales butter had so improved that it now held a leading position in Australia and was a serious rival to New Zealand butter. Tho time was fast approaching, lie said, when Iho Dominion would no longer be able (o claim any superiority. IL is important for Nov/ Zealand to remember that tho figures for tho export of butter from Australia disclose a phenomenal increase in trade with Britain. The Commonwealth during 1931 increased its butter exports to tho United Kingdom 64 per cent..