ALL MUST SAVE

New Zealand Herald, Volume 78, Issue 24070, 15 September 1941, Page 3

ALL MUST SAVE

A.C.I. —con., 5/- Sept. 30 Broken Hill Pty.—con., 5/- .. Nov. 20

VITAL TO WAR EFFORT A BANKER'S WARNING "In view of the extraordinary conditions confronting us to-day, the increased purchasing power of the public will impede the war effort unless guided into the proper channels," said the chairman of the Commercial Bank of Australia, Limited, Mr. J. L. Webb, at the annual meeting in Melbourne.-"A great responsibility rests upon every member of the community to refrain from purchasing unnecessary goods, and failure to do so," he said, "will inevitably result in a substantial rise in the cost of living, with all its attendant evils and hardships, to those sections of the people at present in receipt of fixed incomes." Mr. Webb pointed out that wages generally were substantially higher than before the war, and it was a matter of real concern that increases in savings were not greater, as that undoubtedly indicated a departure from principles of thrift and prudence—once regarded as essentials of progress and success, for which no substitute had been found.

"It will be readily appreciated that we cannot afford to use our financial resources wasteful!} 7 , any more than we can afford to waste materials and labour," said Mr. Webb. "As much as possible must be reserved for essential purposes. In the practice of thrift will be found the solution to many vexatious and serious problems of to-day and of the future. This is one very important way in which we can all help the war effort.

"The basis of efficiency is unity and co-ordination, and we must_ all make sacrifices and merge our individual interests into the general welfare. No organisation, whether a business enterprise or a Government, can function efficiently if its energies are dissipated by destructive criticism and divided counsel. "Responsibility of management and labour is to co-operate in obtaining efficient and ever-increasing production. The duty of the people is to economise so that the war effort may have a prior call upon both national production and income. Never has our danger been greater." Profit earned by the bank represented a return of 3.91 per cent on shareholders' funds, and 6.27 per cent on paid-up capital. In conformity with Government policy, normal building programme will be suspended for the duration of the war, and only essential works will be carried out.

CANTERBURY PRODUCE

POTATO MARKET DULL Uncertainty about, the extent of imports of Australian potatoes has given the Canterbury market a setback, according to Christchurch reports. The first Australian imports are arriving at- Auckland and Wellington shnrtlv. No information is available as to the price to be put on the Australian imports. Because of this uncertainty, southern merchants are unwilling to Quote to farmers. Other produce sections are quiet. Spring wheat sowing prospects do not look bright, as much of the heavy, unsown land is still badly sodden and unworkable. PIG PRODUCTION IMPROVED OUTLOOK (0.c.) PUKEKOHE, Sunday The possibility which loomed up some months ago of the glutting of the market with fat pigs owing to export difficulties now appears to be disappearing. . . In a statement to the Auckland District Pig Council, which has its headquarters at Pnkekohe. Mr. H. M. Peirson. extension officer in pig husbandry, said that, in norma, times 50 per cent of the pig meat produced in New Zealand was consumed in the Dominion, leaving 50 per cent to be exported However, approximately 25 per cent of the rows had now been diverted to cheese produc tion as a wartime, measure, and this would mean that not nearly the same number of pigs would be fattened with skim-milk from the dairy herds, particularly as all the whey from cheese factories could not be returned to the farms for use as pig food. Consequently, New Zealand would now consume perhaps 75 per cent of her production of pig meat. From this, coupled with the fact that the request to export to Great Britain 5000 tons of pig meat was. in effect, a call for 75.000 haconers, it would appear that those left to produce pics would be hard put to it to supplv the demand. "On the face of this, there is no need for a pessimistic outlook as far as the pig industry is concerned," added Mr. Peirson.

PAYMENT FOR WOOL The season's initial wool appraisement at Ohristrhurrh yielded £33,022 tor 2587 bales. The offering was mainly crutchings and oddments, with a small proportion of fleece, some of it from high country runs.

MINING YIELD Addison s Fla' (West Coast). —34%0z for three weeks to September 6.

EGG PRICES UNCHANGED

The Egg Marketing Committee advises that there is no change in the price of eggs, standard hen eggs being Is 6V 2 a a dozen and large duck Is OV 2 d, with the usual differentials.

PUKEKOHE BULL SALE (O.C ) PUKEKOHE. Saturday The top price at the annual bull sale held at Pukekohe yesterday by Alfred Buckhnd and Sons. Limited, was 52 guineas. This was paid for a Jersey, Mt. Emerald's Olga's Laddie, sold on account of Miss B. Upton. Bombay. Other choice Jersey bulls brought from 23Vigns to 3Sgns; special quality grade twoyear and three-year Jerseys, I,'igns to XUgns, other mature Jersey-, lgn to 12gns; _best yearling grade Jerseys, 12gns to 23%gns; oilier grade yearling Jerseys, 3gns to lOgns; best pedigree yearling Shorthorns, lOgns to 13Vigns; best grade Shorthorns. Tgns to ny 2 gns; other young Shorthorns. sgns ro G/jgns; aged Shorthorns, 2gns to. sgns. Approximately 300 bulls were offered. There was a large attendance of buyers. Competition was particularly keen tor quality pedigree Jersey bulls with good butter-fat backing. Aged Jersey bulls were dull of sale, while Shorthorn bulls were also hard to dispose of.

DAIRY CATTLE SOUGHT Good quality dairy cattle were in keen demand at the Papakura sale conducted by the Loan and Mercantile Company Bestdairy cows, clgse to profit and in milk, made up to €l3 10s; others, £'B 17s Oil to £l2; backward, £5 15s to £8 12s. Choice Jersey dairy heifers, in milk, made to £l3 10s; others, £0 to £lO 17s Od; backward. £7 10s to £S 15s.