SHEEP AND BUTTER

New Zealand Herald, Volume LXXI, Issue 21783, 24 April 1934, Page 7

SHEEP AND BUTTER

POVERTY BAY PRODUCTION FREEZING WORKS CONGESTED [by telegraph—own correspondent] GISBORNE, Monday The freezing space at tho Kaiti Freezing Works at present is almost filled, and therefore it has been found necessary to go slow with tho killings of fat stock for export. This is in spito of the fact that recent additions to the freezing chambers are in use. The chambers were added to- twice during the past two years, and they aro now 60 per cent larger than formerly. It is not known yet when sufficient relief will be afforded to onablo killings to bo .resumed at the normal rate. Slaughtermen have been proceeding steadily during the past few months, and this month bids fair to bo one of the best Aprils for years. Favourable fattening conditions during tho past few months have resulted in largo numbers of sheep and lambs being sent to the works, which have been killing about 5000 sheep and lainbs daily. Because of .the congestion in the freezing chambers it has been necessary to cut down sheep and lambs to üboiit half the numbers offering. Cattle will not be affected, for the chambers reserved for beef quarters are not taxed to the same extent. , ~ The large holding of butter at the Kaiti works is one of the reasons for the congestion of the freezing space. The Gisborne butter export has doubled during the past five years, 'and for the six months of tho present season ended March 31 the exports totalled 66,529 boxes, compared with 60,090 boxes during tho corresponding six months of last year. Therefore; with tho policy of the spreading of shipments adopted by the Dairy Board for the regulation of arrivals in the United Kingdom, together with the increased production, the problem locally has been to find sufficient freezing spaco for butter during a time which coincides with tho greatest activity in the export moat market.

NATIONAL INSURANCE

DIVIDEND MAINTAINED

[BY TELEGRAPH —PRESS ASSOCIATION] DUNEDIN, Monday The directors of tho National Insurance Company of New* Zealand, Limited, have declared an interim dividend unchanged at 4d a share for tho half-year ended March 31. It is payable on May 15.

CHRISTCHURCH THEATRE

NEW PROJECT OVER-SUBSCRIBED

The issue of capital for new theatre in Christchurch by the Federal Theatre Company, Limited, was oversubscribed. The provisional directors went to allotment last week. The capital of the new company is £12,000. It proposes to buy the. land and erect a new theatre on the site of the Federal Club, Worcester Street, 'at a cost of about £30,000. The building, which will be earthquake resisting, is to be rented by J. C. Williamson Picture Corporation when completed. Tho seating capacity will be 950 persons.

WELLINGTON PROPERTY SALE FOR £20,000 REPORTED A , property, consisting of twostoreyed brick premises, facing Manners "Street, Wellington, and a threestoreved brick building with a frontage to Edward Street hns been acquired by Edward Collie, Limited, furniture manufacturers and warehousemen, of Wellington. It is understood tho price paid for the block was about £20,000.

JOSEPH NATHAN AND CO.

ACCOUNTS FOR PAST YEAR | [trom our own correspondent] LONDON, March 8 A preliminary announcement of tho accounts of Joseph Nathan and Company, Limited, for the year ended September 30, 1933, showed a not profit of £39,437. In the final figures tho not profit, after meeting general expenses, and writing £16,500 off subsidiary and associated companies, -is shown at £39,522. For the preceding year the net balance, including a credit cf £6964 from taxation reserve, was shown at £28,789, out of which £6005 mas allocated to reserve for subsidiary and associated companies. After allowing for one year's dividend, to June 30, 1933, on the "A" 7 per cent preference shares, the balance carried forward is increased from £19,297 to £23,819. Since tho closing of tho books the half-yearly dividend on the "A" 7 per- cent preference shares, flue on January 1, has been paid. The 8 per cent preferred ordinary share dividend is in arrears as from September 30, 1931.

The report states that a liquid financial position has been maintained, and the policy of forming local subsidiary companies to meet existing conditions in the export trade has been extended with the consolidation of the Argentine branches. Importation from and the manufacture of dairy produce in Now Zealand continued to bo unprofitable owing to low prices, and improvement must depend on world recovery.

STOCK SALES

WESTFIELD FIXTURE TO-DAY As Anzac Day falls to-morrow, the weekly fat stock sale at Westfield will ho hold today. Tho weekly sale of Btore slock will be held on Thursday as usual. CAMBRIDGE QUOTATIONS The New Zealand Loan and Mercantile Agency Company, Limited, Hamilton, reports that at its Cambridge Mock sale yesterday only a medium' yarding of cattle came forward and consisted mostly of plainc6«diticmcd cows. Prices realised were well lip to recent quotations. Light fat cows made £3 Ss to £2 15s: killable cows,-to £2: boner cows, to £1 13s. A small entry of sheep met with good competition and sold readily at late rates. Forward frit shorn lambs sold to 355; store lambs, to 9s lid. There was a good entry of all classes of pigs, which sold on about, a, par with Frankton late rates. Heavy porkers mndo £1 15s to £2; medium, £1 8s to £1 13s: light, £1 2s to £1 ss; good stores, lis 6d to 14s; poorer, 9s 6d to 10s fid: weaners, 7s to 9s.

QUOTATIONS' AT WARKWORTH [BY TELEGRAPH —OWN .CORRESPONDENT? WARKWORTH. Monday The North Auckland Farmers' Co-opera-tive, Limited at Warkworth on Saturday, penned a large yarding, consisting chiefly of store cattle. Beef prices were hardly up to late rates, but a better quality of stores'sold very well. There was a large number of pigs, which realised satisfactory prices. Quotations were:—Beef: Cows, heavy, £3 13s to £4 4s: lighter, £2 16s to £3 Is: forward store cows. £1 19s to £2 10s; lighter, £1 9s to £1 16s; heavy store steers, £3 3s; lighter. £2 6s to £2 17s 6d; 18-month st«ers, £1 14s; boner bulls, heavy, £3 15s to £4 4s; lighter, £2 15s to £2 19s; boner cows, 16s to £1 6s; springing cows, £2 2s 6d to £3 10s; springing heifers, quality. £3 2s 6d to £4 10s; springing heifers. £2 10s to £3; backward nnd inferior cows and heifers, £1 17s Gd to £2 7s 6d. Pics: Weaner piss, well done. 9s to 10s; smaller, Gs to 8s Gd ; slips, well done, 17s; smaller, 12s 6d to 13a. Sheep: Good stores, 18s to £1 lsj. well-framed store wethers, IPs 9d to £1 Is; good quality store ewes, 17® 8d; lighter, 15s; lambs, 14a Id.