DROP IN PRODUCTION

New Zealand Herald, Volume LXXV, Issue 23185, 3 November 1938, Page 7

DROP IN PRODUCTION

20 PER CENT DECREASE I RANGITAIKI PLAINS AREA EFFECT OF LONG DRY SPELL [by telegraph—OWN correspondent] "WHAKATANE, Wednesday A review of the production figures of the Pangitaiki Plains Dairy Company, Limited, for the first four months of the season shows that in common with other districts there has been a decrease in butter production of approximately 20 per cent, or 264 tons, compared with last year. Low-lying areas are particularly, by the lack of warm spring rains. These areas were saturated by the unusually heavy autumn and winter rains, accompanied by frosts and cold winds. This was followed by the extremely dry weather of the last six weeks, resulting in a severe setback to pastures. Only in the past week have grasses shown the promise of growth usually expected in the early spring. On the higher country the position is not so marked as the pastures arc more suited to extremes of climate. The lack of moisture, however, is now affecting the growth, although the showers of tho past few days will do something to help tho pastures.

Last month 1.66 in. of rain was recorded on the plains, as compared with 2.92 in. last year. Tho effect of the adverse conditions is shown by the fact that in the first four months of last season the Pangitaiki company produced 1288 tons of butter, and this year was only 1024. In October, 1937, the output was 566 tons, but last month it was only 441 tons.

HERD TESTING RETURNS ADVERSE SEASONAL CONDITIONS [from OUIt OWN" correspondent] HAMILTON, Wednesday The drop in milk and butterfat production recorded by the New Zealand Co-operative Herd Testing Association in August was continued in September, the reduction for the last-mentioned month equalling 1331b. of milk and 6.41b. of fat per cow, compared with the corresponding month last year. The drop in production was caused by the, adverse seasonal conditions, features being the wet winter, and the dry and backward spring. The number of cows tested also showed an appreciable reduction.

In September, 1938, the association tested 69,299 cows, which yielded an average of 6441b. of milk and 281b. of fat per cow. The number of cows tested in September, 1937, was 81,375, the production averaging 7771b. of milk and 34.411), of fat. There were 86,393 cows tested in September, 1936, the average yield being 7361b. of milk and 32.11b. of fat.

The highest group in the association for September, 19138, was Ngarua, the 623 cows in the group yielding an average of 7631b. of milk and 351b. of fat. Three herds tied for first place from the point of view of production, each yielding an average of 481b. of fat per cow. They belonged to the Hautapu, Matiere-Ohura, and Kaipaki groups.

PHENOMENAL BUYING REPATRIATED SHARES £25,000,000 IN A MINUTE (Received November 2, 9.45 p.m.) LONDON. Nov. 1 A total of 31,000 applications involving more than £25,000,000 sterling were lodged when a block of 2,200,000 shares in F. W. Woolworth and Company, Limited of os each was offered. The shares were repatriated from the United States, and were offered at 58s each. The lists closed in one minute.

The company has an issued capital of £12,500,000. It owns 677 retail stores in the United Kingdom and Ireland.

DEBENTURES AND STOCKS BANK SHARE QUOTATIONS LONDON, Nov. 1 On the London Stock Exchange quotations of bank shares and other corporation debentures and stocks compare with previous quotations as follows: — Oct. IS Nov. 1 Australasia .. 7 18 9 715 Of E., S. and A. . . 3 16 3 3 18 Ot Union of Aust. . 611 3 6 9 4Vat

New South "Wales 23 15 0 23 15 O National of X.Z. X IS O 1 16 G N.Z. shares . . 1 30 0 1 30 3 British Tobacco . 3 17 0 1 17 0 Goldsbrough-Mort 1 1 3t 3 1 3t Dalgety . .. 6 0 Ot 6 7 6+ P. and O. Dof. .10 0 116 N.Z. Loan & Mere. (4 p.c„ deb.) . 83 0 0 S3 0 0 N.Z. Loan A Merc. (ord.) . .. 21 0 Ot 21 0 Ot tNominal. GOLD AND SILVER QUOTATIONS IN LONDON ' - . LONDON, Nov. 1 Fine gold is quoted to-day at £7 6s 3Jd an oz., compared with £7 6s OJd yesterday. Silver is quoted at 19 9-16 d an oz. spot and If) 5-16(1 forward, compared with 19Jd and 19 7-16 d yesterday. Tho quotation for silver at per fine oz, is 21 £d, compared with 21 3-16 d yesterday. PRICES OF METALS TIN AND COPPER FIRMER LONDON, Nov. 1 Following arc to-day's quotations on tho London metal market, compared with those of October 31:— Nov. l Oct. 31 Per ton 1 Per ton ' jC s (1 £ tj (j Copper, stan.. spot 4(( 1 3 45 13 9 Copper, stan., 3 months .. 40 5 7'/ 3 45 38 IV, Copper, electrolytic 52 0 0 52 5 0 to to 52 15 0 52 10 Copper, clcc., wire bars . . . . 52 15 6 52 10 0 Lend, soft, spot .. 10 110% 16 3 lV a Lead, soft, forward 16 5 7% 36 5 7»/i Spelter, spot .14 16 10 1 /, 14 18 0 Spelter, forward .. 35 l 10% 34 30 4'/» Tin, stan., spot .. 232 12 6 230 37 8 Tin, stan., 3 mos. 213 7 fi 211 17; 6 EGG PRICES UNALTERED Tho Auckland Egg Marketing Committee announces that wholesale egg prices are unchanged as follows: Hen, first grade, Is 4Jd a dozen; B grade, Is 3jd. Duck, first grade. Is 41 a dozen; 13 grade, Is 3Jd. Country storekeepers, minimum buying prices for first grade eggs are:—Hen, Is a dozen; duck, Is.