FERTILISER COSTS

New Zealand Herald, Volume LXXVII, Issue 23618, 30 March 1940, Page 7

FERTILISER COSTS

GOVERNMENT ASSISTANCE MANUFACTURERS REIMBURSED [l'ltOM Ol'll OWN COKIIKSPONDKNT] DUNK DIN, Friday "When we met a year ago." said Mr. I"'. W. .Mitchell, who presided at the annual meeting of Keniptliorne. Prosser and Coiupany's New Zealand Drug Company. Limited. "I referred to some of the cliccts oi the operation oi the 10-hour week. The second years experience ol the scheme has led to an increase in the cost of our chief manufactures, while import restrictions which prevailed throughout the year have affected importations of many lines. War conditions, too, have seriously dislocated overseas shipping, resulting ill substantial increases in steamer freights, in addition to higher 1'.0.b. costs." .\lr. Mitchell pointed out that owing to substantial advances in the price ol the necessary raw materials required for the manufacture of superphosphate higher selling prices were required to cover these as * from the- end ol last year, but there would be nn added cost to I be farmer. The Government had completed arrangements to reimburse manufacturers to the extent of their actual increases in the eost of these materials for the period from January 1 to July •il of this year. This arrangement had been of decided advantage to the farmer, enabling; him to keep bis fertiliser costs, in so far as superphosphate was concerned, at the pre-war level, Taxation, including additional tax to cover war expenditure, was now a serious impost, but the speaker felt that every effort must be put forward to assist Great Britain and her Allies to 111:1 i n i;i in I rood oi n tor nil countries.

SEARCH FOR OIL PROGRESS OP DRILLING NEW SITE AT MIDHIRST MORERE WELL AT 1090 FT. [ IIY TI'.LKGRAPIf —OWN COimKRrONDF.NT] f:iSB01?X"E, Friday Following upon geological and kcopliysioal surveys extending over 20 months in Taranaki, several .structures in avliicli petroleum might ho exported to accumulate have been located, states a bulletin issued by the New Zealand Petroleum Company, Limited. One of these structures, the existence of which has been disclosed by the employment of seismograph methods of survey, lias been selected for a drilling test. This structure is located at Midhirst, a town on the main railway line connecting New Plymouth with Wellington. The actual drilling site is threequarters of a. mile north-west of the town and, incidentally. 10 miles as the crow flies from Moturoa, where two wells continue to flow at the rate ol nine or 10 barrels of oil a day.

Heavy drilling plant powered by Diesel engines has been imported from California to drill at Midhirst and other tests. * This plant is being assembled now at the site and it is expected that drilling will commence in the latter part of May. The plant is capable of drilling to a depth exceeding 10,000 ft.. arid, following upon the penetration of the superficial sheet of volcanic ash which completely covers sedimentary rocks in this locality, as it does at Moturoa, a good rate of drilling is anticipated. On tin 1 east side of the North Island the company i<- linking it.s second test well at Morere within one mile of the northern shoreline of Hnwke's Pay. The heavy plant formerly employed at Totnngi is being used, and the well, which was started on February 12, had been sunk to 1090 ft. on March 2G, the first string of casing having been run and cemented at 250 ft. All preparations have been made for a deep and as nearly as possible conclusive test at Morere. While these two wells are being drilled geological iUl[ ] geophysical survevs will be continued in order that further selected sites for test drilling with tlic.se plants may be immediately available and prepared to receive plants when the present wells have been completed.

BRITISH RETAIL TRADE CHANGES DUE TO THE WAR (Received March 20. 0.1 p.m.) British Wireless LONDON, March 28 In a review of retail trade for the year from February, 1989, to January. 3910, the Board of Trade Journal states that the outbreak of war had a considerable effect on tho value and more particularly on the distribution of retail sales during the year. The aggregate increase over ISWB-19.M9 was 3 per cent. An improvement in the total sales during the lirst three quarters of the year took place in both the food and lion-food sections, but in the filial quarter sales in the latter receded. Stocks expanded alter the outbreak ol war and at the end of January were Hi.! per cent larger than a year earlier —- an abnormal increase. The usual seasonal movement in sales, indicated by the monthly index numbers, was overlaid during the later part of l!l.'!!l bv the changes produced by war conditions. The quarterly indices show for last, year a rise of 2.9 per cent over 19:iS.

HOBBY CALF TRADE HUNTLY WEST COMMITTEE (TIIOM "l it OWN COHItI'.sro.MJKNT] HUNTLY, Friday At the annual meeting of the 11 unt ly West Calf Pool, .Mr. J. 11. Furuiss expressed appreciation on behalf of the suppliers to the committee for its ellicienf niaiiageinent of the pool during the past season. The secretary, .Mr. F. Jluekle, reported that .'iS2(i calves were collected from 170 suppliers in tlio district. 'J ingross income was 1M89!) 14s JOd. 01 this amount .L'Kil'tj 7s 7d. representing Hfi} jier cent, had been paid out to suppliers and the balance of lIJ per cent was the total administration costs. The average weight was (i-'i I-.'lib. find the average payment was 8s (3d a calf over the whole season. The following committee was re-elected: —Messrs. \Y. 11. Lees (chairman), F. 0. Batenian, .1. Leathard, M. Kiinpton and JO. Jlnckle (secretary). GREY RIVER DREDGE RETURN [nv TKT.KOIIAIMI "I'll ESS ASSOCIATION"] WKIiM.N'GTOX, Friday The orev River dredge return is 120 ounces from (Jl,7lt"> yards in 3 ( J hours. LONDON MINING RATES LONDON, March 'JS Now Guinea Gold shares are quoted at Is 9d.