NEW SEASON'S LAMB

New Zealand Herald, Volume LXXV, Issue 23182, 31 October 1938, Page 7

NEW SEASON'S LAMB

HAWKE'S BAY OUTLOOK SMALLER INITIAL SHIPMENT LIMIT OF B|D POSSIBLE ; ■ M'~ [BY TELEGRAPH—OWN- correspondent] HASTINGS, Sunday With a vessel sailing direct from Napier for London on November 17, the first shipment of new season's fat lambs from Hawke's Bay will reach its destination in time to be opened up for the pre-Christmas market in Great Britain. The new killing season for fat lambs will begin in Hawke's Bay next week. Although preliminary estimates would indicate smaller killings, at least at the start of the season, it appears likely that the early shipment will contain high quality carcases. The season in the province this year has been more backward than usual, lambs being fully three weeks later than last year in reaching killing weights. Lambing will still be taking place in some piarts of the province when killing begins at the works. It seems probable that lambing percentages will be better than at first expected in view of the adverse seaaon. A preliminary unofficial estimate sets down the possible export figures for the initial shipment at carcases, whereas the first vessel last season carried half as many lambs again. However, drafts may come forward at the last moment to swell the ( figures.

No schedule has been announced yet for the new season, but men most closely associated with the position are '

of the opinion that prices for the opening shipment will be below the 9Jd paid last season. It is thought likely that the limit will be Bsd. The average lambing percentage for Hawke's Bay this season is estimated at 84, against 78 last season, which was one of the worst on record. The figure was 95 per cent in 1936 and has frequently been above 90 in other years. The chief faptor which prevented high percentages this season was the unusual state of the pastures in autumn, resulting in some districts in outbreaks of facial eczema. Serious floods and later cold rains added to the difficulties of the season.

PROSPECTS AT AUOKLAHD CONDITIONS NOT FAVOURABLE No lambs hare yet been slaughtered at Auckland works for export, but it is expected that a few wijl be forward this week, when a start will be made. There is. virtually only one loading available to reach London in time' for the Christmas demand. This is the Kangitiki, due to sail finally from Napier about November 17. It is possible that further shipments will be made by the Doric Star, which will sail from Auckland around November 14, but she is not expected to reach London until December 24, some days after the Rangitiki. The late season has militated against many lambs being available for the early shipments. Weather has been against the progress of the lambs, which arc showing considerable variation in quality. Exporters confirm the certainty of a lower schedule. The market for skins remains weak, while many lambs inspected this season are shorter in the wool than previously.

MINING NEWS THE MOLYNEUX COMPANY LOSS OF £7642 REPORTED [from ocb own correspondent] LONDON. Oct. 10 After deducting depreciation, totalling £5150, the ijet loss of the Molyneux Gold Dredging Company, Limited, for the year ended March 31 was £7642. The accounts for the year show that the authorised capital is £250,000, divided into 2,500,000 ordinary shares of 2s each. Of these, 2,110,000 shares have been issued, all of which are fully paid. The option, on the balance, 390,000 shares, expired on May 3, 1938, but this has been renewed by the board until December 31, 1938, at par. Dredging operations commenced on May 3, 1937, and for the 11 months to March 31, 1938, 1881oz. of gold were recovered.

The company is operating in Otago. The annual meeting was scheduled to be held in London on October 18. YIELDS OF COMPANIES Argo (West Coast).—34oz. from 10,000 yds. in 98 hours. Mataki Junction (Murchison). Week ended October 27, a total of 550z„ smelted gold from 19,000 yds. in 130 hours. New River (West Coast). —320z. from 6300 yds.' jn 98 hours. White's Electric (West Coast).— 350z. from 6000yds i in 105 hours.