BUTTER MARKET QUIET

New Zealand Herald, Volume LXXIII, Issue 22434, 2 June 1936, Page 5

BUTTER MARKET QUIET

VALUES MAINTAINED

RETAIL PRICE INCREASED CHEESE QUOTED HIGHER The market for, New Zealand butter in London is quiet at the unchanged value of 103s per cwt., according to a cablegram, dated May 30, received by Joseph Nathan and Company, Limited, from Trengrouse and Nathan, Limited.

The retail price of New Zealand butter has been increased by Id per lb. to Is, that for Danish remaining unchanged at Is Id. Cheese values are slightly higher on a firm market. White is selling at 58s Gd per cwt., and coloured at 5Gs Gd. The New Zealand Dairy Board has received the following market report from its London office, dated May 29 (figures for the previous week being given in parentheses):— Butter.—New Zealand, salted, 102s to 103s, exceptional, 104s (equals approximately 12.075 d f.0.h.), i97s to 98s); New Zealand, unsalted, 103s to 104s (98s). Deliveries: New Zealand, IGIB tons (last year 1787 tons); in store, 4631 tons (last year 7011 tons). Australian: Salted, 100s to 101s (90s); unsalted, 100s to 101s (96s to 975). Deliveries: Australian, 1745 tons (last year 2007 tons); in store, 3381 tons (last year 7454 tons). The market is quiet at the advance. New Zealand retail price increased to Is. South Africa, salted, 95s to 98s ( —); Dutch, unsalted, 90s to 98s (88s to 945); Siberian, salted, 98s to 100s (96s to 975); Polish salted, 93s (88s to 90s); Danish, 80s f.0.b., 110s spot (88s and 108s). The market is quiet at the advance. Danish retail price unchanged, Is Id.

Cheese. —New Zealand, white, 58s (equals approximately 0.42 d f.0.b.), (57s 6d to 58s); New Zealand, coloured, 5Gs, exceptional 56s 6d (equals 6.16 d f.0.b.), (55s 6d). Deliveries: New Zealand, 17,408 crates (last year 22,020 crates); in store, 92,115 crates (last year 178,326 crates). Australian, coloured, 53s to 54s (53s 6d to 545). The market is steady. New Zealand retail price unchanged, 7d. Canadian, white, 645, exceptional, 65s (645, exceptional 665); coloured, 65s to 66s (655); new season's white, c.i.f., 57s 6d ( —); coloured, c.i.f., 56s 6d ( —). Deliveries: Canadian, 4435 boxes (last year 62? 1 boxes); in store, 56,719 boxes (last year 53,861 boxes). English, factory, 53s to 56s (50s to 545). The market is steady.

TUNG OIL VENTURE

ORDER FOR WINDING UP AUSTRALASIAN PLANTATIONS • An order for the winding-up of Australasian Plantations, Limited, a tung oil venture to operate in New Zealand, was granted in the Equity Court in Sydney recently. The company was registered in 1932 with a nominal share capital of £75,000, and offered the public 4500 bonds of £3O each, bearing interest when fully paid at 7 per cent. According to the prospectus, no shares or debentures were issued otherwise than for cash.

The company raised £17,486 of share capital and sold 479 bonds in A series, and 117 in B series, the total bond money received being £15,360. According to Mr. Justice Long Innes, it "succeeded in losing practically the whole of the share and bond capital." There was an effort in October, 1935, to convert the bonds into 7 pur cent preference, and to raise an additional £9840 bv a share issue.

The company paid 7 per cent on the bonds as contracted for some time, but interest of £875 is now in arrears. The trustees said that there was a deficiency of £19,000, that the company could not complete purchase of the land, and that the purpose for which it was formed had become impracticable of attainment.

ELECTRICITY IN FISHING

IRISH EEL INDUSTRY EXPERIMENTAL " BARRAGE " [from our own correspondent] LONDON, May 13 The practicability of installing an electrical barrage for an important eel industry in Northern Ireland is being investigated by the National Physical Laboratory. The object is to guide the eels into the part of the river where the traps are installed, by electrifying the water where it is desired to prevent them from passing.

Experiments with eels have been made in a wooden tank at the laboratory with promising results, and these have been extended to more natural surroundings at the Fisheries Experimental Station at Alresford. It is hoped that full-scale experiments in the eel fisheries oi an Irish river will be carried out this year.

STOCK SALES PEDIGREE PIG PRICES Dalgety and Company, Limited, reports having held a very successful combined pedigree pig snlu on account of Mr. R. Chilcott. of Frankton Junction, and Mr. W. A. Nixon, of Rotorua. There was a big bench of buyers from all parts of the North Island. The top price of Hie sale, 18 guineas, was paid by Mr. E. J. Jones, of Eureka, for the Tamworth sow Te Rapa Dons. Mr. ('■. Vowles, of Paeron, secured the Berkshire sow Te Rapa Lucy ist at 15 guineas, while the same price was paid by the New Zealand Dairy Company, Te Awamutu, for the pedigree Berkshire sow Te Rapa Meg 3rd. A sum nt 15i guineas was realised for the Berkshire sow Te Rapa Lucy 3rd, and was purchased by Mr. E. S. Holdaway, of Pnhiatun. The ton price for Tamworth boars was realised for a boar on account of Mr. W. A. Nixon and purchased by Mr. J. P. Gnlpin, of Canterbury, for 15 guineas.

PRICES AT CLEARING SALES The New Zealand Loan nwl Mercantile Agency Company. Limited. Hamilton, reports hiivilli; held ii clearing pale of dairy rows ii 11 <1 heifers ill Te Kiiwii on Friday on account of Mrflflm Wallis Brothers. Ali tlic cuttlo ciiinc forward in very good order Spirited bidding continued riiflit through the sale and prices peniriilly were most satisfactory, 5)2 cows averaging £5 17» (id. The top price was £9. For the heifers, too, lively bidding ruled. Good-conditioned Jersey dairy cows, due early, made .£'7 to £8; medium July-August calvers, i! 5 15s to X'fi 15s: plainer cows, Jt4 10s to £6 10s; buck ward nnd inferior, to £4 ss:, 35 heifers aver aged £G 15s; best Jersey heifers, £0 15a to £7 15s; medium, £5 10s to £0 10s; poorer, £5 ss.

The Farmers' Co-operative Auctioneering Company, Limited, reports having held n clearing sale on behalf of Mr. B. N. Smith at Pukeroro on Friday, when his herd of 70 cows was offered. Bidding was not as keen as anticipated, most of the cows being a little late for most buyers' requirements Best Jersey and Jersey-cross cows mnde £(i 5a to £8 ss; later calvers, £4 15s to £5 10s; backward, £3 to £3 l()s; Frif-sian cows. £5 to £<> 10a; later calvers, £3 10s to £4 ss; Shorthorn cows, £3 10s to £5 ss; bay mare, rising four years, £sl 10s; brown gelding, seven years, £SO 10s; hay mare, eight years, £45; Tamworth sows with nine young, £5 to £5 17s 6d; Tamwoith sows in pig, to £3 17s.