COMMERCE, MINING AND THE RURAL WORLD.

New Zealand Times, Volume XXXVI, Issue 8181, 24 July 1912, Page 8

COMMERCE, MINING AND THE RURAL WORLD.

WELLINGTON STOCK EXCHANGE.

YESTERDAY'S QUOTATIONS. MINING. Consolidated Goldfields —3.15, 6 14s, Kuranui Caledonian —11.50 ami., s Is 4u; 5.15, s is 4d. New Svlvia —5.15, s sd. . Ross Reconstructed —3.15, b 6s, s os 4a. Talisman Consolidated—ll.3o a-m„ b £. Ife. s £1 19s 6d; 3.15, b £1 18s 9d. s £1 19s 3d. sales £1 19s (’Change). Waihi—3.ls. b £1 Ms. Waihi Grand Junction—ll.3o a.m.. D £1 la 6d. s £1 2a 3d: 3.15. h £1 Is 6d. s £1 2s. \Vaiolahi —3.15, h Is lOd. s 2s 2d. Waitangi Consolidated N.L. —11.30 a.tn., s 7d; 3.16, s 6id. Note. —Tlie letter "b" signifies buyers and s” sellers. INVESTMENT STOCK. Buyers. Sellers. Sales. £ s. d. £ s. d. £ b. d.

banks— National of N.Z. 519 6 6 0 0

VIIfAKCTAIr N.Z. andß. Plato

QUOTATIONS ELSEWHERE,

PRESS ASSOCIATION. AUCKLAND. Sales at this morning's call on the Stock Exchange: Occidental Consolidated, Is. Ross Goldfields, 6s 2d. 6s. Talisman Consolidated, 39s 3d. Waihi. 345. Waihi Grand Junction, 21s 9d. Loan and Mercantile. 9a. Auckland Trams (ord.), 24s 3d. Wilson’s Cement (pref.), 35s 6a. Afternoon call: Waitangi Consolidated, 6d. New Zealand Insurance, 96a fidAuckland Trams (ord.). 24s 3d. DUNEDIN. July 23.

Stock Exchange sale: Talisman Consolidated, 39a 3d. Sales reported: Waihi Grand Junction, 21s sd. Westport Coal, 28s fid. LONDON. July 22. Stock and sharemarket quotations inelude: Waihi Goldmiaing, 31s 3d (buyers) and 33s 9d (sellers); Talisman. 37e 6d and 42s fid.

E W. B. Hornahrook. 163, Feathcraton street, Wellington, member Stock Exchange. Specialising in Mining Scrip.. Trustworthy Correspondence from all Mining Centres. Telegraphic address: “Hornahrook. WelN lington."

LONDON- COMMERCIAL CABLES

By Telegraph—Press Association—Copyright LONDON. July 22. BEEADSTUFF3 FOE EUROPE. The quantities of wheat and flour afloat for the United Kingdom and the Continent of Europe on Saturday; a week ago. and at the corresponding time last year com. P ar ® - This week. Last week. Ur ago. Qrs. Qrs. Qrs. For U.K 3.530,000 1 3,470,000 3,050.000 For Europe... 1.950,000 2.185,000 1.685,000 5,480,000 5,655,000 4,735,000 Shipments from American Atlantic ports amount to 179.000 quarters, compared with 212,000 quarters a week ago. and 152,000 quarters a year ago. No Pacific Coast wheat was put afloat. , „ The total quantity of wheat and flour shipped from all exporting countries during the past week ended July 20th was equivalent to 1.150,900 .quarters .of wheat, compared with 1.210,010 quarters in the previous week and 1.110.000 quarters a year Tho weekly totals include tho fol.owing. Last w’k. Pro w’k. T’r ago. Qrs. Qrs. Qrs.

PEICE OF SILTEE. Bar silver is quoted at 2715-16 d per ounce standard. (Eeceived July 24. 0.45 a.m.) LONDON. July 23. AUSTRALIAN WHEAT SOLD. 'An Australian wheat cargo has been sold at 39s 3d per quarter. BEET SUGAR. EUROPEAN PRODUCTION DURING CURRENT TEAR. LONDON. July 22.. Herr F. O. Lioht. of Magdeburg, in his monthly circular, states that the produc* tion of beet sugar in Germany. AustriaHungary. France. Belgium, and Holland, for tho period from September to June, inclusive, the first ten months of the 1911,vj campaign, showed a decrease of 1.661.000 tons as compared with tho corresponding neriod of tho previous campaign. Mr Licht’s estimate of the total European production for the 1911-12 campaign is unaltered at 6.309.000 tons, against 8,105,000 tons tor the previous campaign, or a decrease of about 1,796,000 tons.

LONDON WOOL SALES,

LONDON, July 22. There was a moderate selection o£ greasy crossbreds at the wool sales to-da.V • _ 1 1 1' J cg« ■were woll maintained. A small selection of merinos was offered. The market was firm and prices unchanged. (Eeceived July 24. 0.45 a.m.) LONDON. July 23.

Clip (fleece) prices realised yesterday in. eluded: "Pari." top price 10id per ]b.aTer 7 ago 9Jd: "Okiae,” Ud and 9Jd: M<»raki. 1M and ll|d: "Han-iti," l4d and 12id: ■'Cliff.” 154 d and 12id.

Levin and Co. are advised by tbpir agents in London that the following clips have been sold on their account at the sales now current, the prices named being the average ’"-ice real’scd for the fleece wool in each instance: Delta. Marlborough .101516d: DMK. Myrtle. Mastcrton, 9‘d; Mara, ban. Wanennul. 9»d: .Hi over club. Masterton. 9'd • Weka. Feilding 93d; Waitatania. Bulls. Sid; P,nnr. Tcrawlnti. 107-16 d: .TM over WtiTT. Masteeton, 91M6d: Glenmorven. Hnnterville. 9 3-16 d.

SOUTHERN GRAIN AND PRODUCE

PE7ISS ASSOCIATION. CHEISTCHTJKCH. July 23. There is no change to report In the state of the local grain market, there being no business doing except in a small hand-to-mouth trade. _ „ , Potatoes have made a fort her upward move, and are now quoted at £4 15s for immediate and £5 for August delivery at country stations. Tliero is a pood demand t’rom the Xorth Inland, and tho fact that the shipments made from the south to Syd*

noy are turning out well has firmed tho southern market. The continued wet weather is also responsible for the advance that has taken place.

FRUIT AND PRODUCE

WELLINGTON MARKETS. The weather continues extremely inclement, with the result that the demand for apples sUli remains particularly sluggish; as a matter of fact, the market has weakened for dessert varieties, and were larger quantities to come forward than Umso at present reaching the market prices would again fall. Retailers face the greatest militant factor in the weather. so far as their trade is concerned, and with a falling-ofi in the consumption it is immediately reflected in tho local markets. Only small supplies of pears are coming forward from local orchards. Shipments of Tasmanian should be hero on Friday nest; it all depends, however, on tho strength of tho market in that quarter. Some o.pples should also b© available; the small quantity to hand last Friday were not in the best condition. All Island fruits sold towards tho close of lost week went into rapid distribution, and at the present time the market could absorb a further quantity. Transhipments of Is-land-grown oranges are due here on Tuesday next. The usual weekly supply of New South Wales citrus fruits are duo here to-day. and taking the Island demand as a criterion, excellent rates should prevail, especially for mandarins and oranges. POTATOES AND ONIONS.

The southern supplying districts con* tmuc to exhibit a strong tone in regard to potatoes, and so far as North Isiand merchants arc concerned they have been showing great activity. The heavy Australian demand has also tended to bring about a stronger market. It is reported that some 3030 to 4000 tons of potatoes have been directed to the Commonwealth this season, and bookings have been made up to £7 per ton f.o.b.s.i. for spread delivery up to the end of October. The Union steamship Company’s chartered steamer Waipori has been engaged to load potatoes at Oaxnaru and Xiraaru for Sydney, which is indicative of the volume of business that is massing. The Waihora carried considerably over 1500 tons about ten days ago; the Warrimoo took away 600 tons and the Moeraki about 800 tons. There is big business passing in seed potatoes of all varieties. Values on spot for table potatoes range from £6 10s to £7 per ton. Southern onions are now practically a thing of the past, and merchants arc now awaiting the advent of Californian. Those are due to arrive in about four weeks’ time. It is anticipated that onions will rule very high this season. There is only a ver*- limited amount of space available by the San Francisco steamers, and that port nas to sunply the whole of the demand for Now Zealand os well as for the Australian trade. It is obvious then that the quantity of onions coming down this year will bo quite insufficient for requirements EGGS. The market still remains at a high level for both fresh and preserved eggs; the former are selling at Is 8d and preserved at Is 4d. The probabilities are that prices will weaken. OATS. Business in this line has been somewhat quiet lately, and there is no change to report; in fact, this remark might apply for the whole of this month’s doings. There was a slight symptom of firmness last week and a fair amount of business was put through, but just now buyers in the North Island are not very keen to operate, and Australian importers are off the market. For prompt delivery B grade Gartons are quoted at 2s 3d, and for and following month’s deliveries Australian buyers are willing to buy at 2s 3sd. There is a quick sale for' Duns at 2s 3d to 2s 4d, and Algerians are also in demand at up to 3s f.o.b. southern porta, sacks in. WHEAT. In sympathy with the Home market, the local markets have eased. Millers are holding off operating to any great extent iuet now, and the bulk of the business being done is with merchants, and is practically confined to good whole fowl wheat. In tms there is a steady demand at 5s 8o f.o.b.s.i. GENERAL lines. There Is not any change to report in the price of maize. Old crop la. practically exhausted, and new corn is heme awaited. What small stocks are available are Quoted at 4a iod to 3s f.o.b. northern ports. Seed maize is meeting with a good outlet •at about 6s duty paid Wellington; , pollard is meeting with a good demand on spot at £7 iOs per’ton and; bran is quoted at 15s, supplies of both lines not being at all heavyMessrs Lacry and Co., Ltd., wholesale produce merchants, Allen street, report prices ruling on the Wellington ms Js* ket —Fowls wheat, best 4s 2d to 43 4d per bushel; fowls’ barley, best 3s fid to 3s 9d per bushel; Cap© barley seed. 3s 9d per bushel; oats, short feed 2s 8d to 3s per bushel; oats, seed Algerians 3s 4d to 3s 7d per bushel; oats, Duns 2s lid to 3s Id per bushel; maize, 5s 6d per uushel; Prussian blue peas. 6s 9d to 7s per bushel: partridge poas. 3a 9d to As per oushel; horse bean?. 4s 2d to 4d per bushel; snerosene. £7 10s per ton; flour. Atlas brand £9 11s fid nor tons oatmeal. £l3 los to £l4per ton; pollard, £7 5s to £7los per ton; barleymeal. £7 5s per ton; peameal. £7 10s per ton; bran. £5 15s ip £6 per ton; chaff, prime oatensheaf £5 5s to £slss; chaff, medium quality oateusbeaf £4 5s to £4 15a per ton; chaff, straw, £3 15s' per ton; straw, baled, £3 to £3 10s per ton; factory bacon, shoulders 8d per lb; sides. 9jd per lb; hame, 9Jd per lb; rolls, lOid per lb: factory cheese, medium, sized 7d per lb; factory cheese, loaf 1 sized. 73d per lb: honey, bulk, in 561 b tins 4id per lb; margarine, in 281 b tins Bid per ib* whole linseed, 18s per cwt; linseed, ground 22s per cwt; linseod. cak© 14s per cwt; linseod nuts, 15s fid per cwt: basic slag, £4 Ss per ton; superphosphates, £4 10s to£s iper ton; rolled oats, 9s per doz; rolled oats, bulk 16s per 103; potatoes, prime table £6los to £7 ton; seed potatoes. Up-to-datos £6. Beauty of Hebron £9 10s, Earlv Roso £9 ICs, Gamekeepers £B, Rubicund £6 per ton; onions, prune £lO to £ll 10b per ton.

WELLINGTON. CUSTOMS

The Customs revenue received at Wei. lington yesterday totalled £1924.

BEET-SUGAR FACTORIES

THE MOVEMENT IN ENGLAND.

A number of beet-sugar factories and beet farms are now being started in England—in Norfolk, Cornwall, and Worcestershire among other places. What is described by the London "Daily Mail as "the most important experiment made in British farming for a generation and more" is the growing of sugar beet in East Anglia. About 3500 acres between Yarmouth and Norwich have been sown down with beet this spring, and a sugar factory is being erected in the middle of the district-- The building and machinery are to be completed by the end of August, in time to deal with the crop from the acreage under cultivation. Various technical and other journals have of late years advocated the creation in Britain of a domestic sugar industry. The principal difficulty in the way has been the existence of the sugar bounties. With their abolition the industry has been made possible. In May last, as soon as a pledge was given that a factory would be creeled, the farmers came lorward in a body and voluntarily offered large areas of land. It is expected that many advantages will follow in the train of the new departure. The creation of a new industry will provide' employment for hundreds of persons, even at the outset, and farmers will learn a new art of intensive cultivation.

MA.NGEL HINTS

When a mangel is cut in two pieces a number of woody rings are seen, between which are alternating rings of soft tissue. The larger the number of woody rings pnesent and 1 the closer arranged the greater the feeding value of the root. Harvesting should take place before any frosts occur, as frozen mangels not only

decrease in value, "but when fed to cattle cause scouring, often leading to fatal results. When the leaves are cut off prior to storing care should be taken not to out off the head or neck of the root. The object in so doing is to preserve the. “sap,” to prevent "bleeding.” In storing, the clamp must be arranged so that! it can withstand the hardest frosts. The top part of the clamp is left open for a few days after clamping, to allow the roots to sweat, and finally covered well with straw, soil, etc. The popularity of the mangel is due, no doubt, to the fact that it produces more weight per acre than any other root crop; also the fact remains that it suffers less from drought,and is not so susceptible to insect pests. The quantity fed per day to cows in milk depends on the amount of concen-; trated loods fed to the animals. From! 401 b to 561 b per day is a good allowance tor a cow in full milk (Shorthorn), but a fattening bullock will require 801 b to 1121 b per day. The best results are obtained by pulping the mangels and mixing the chaff with the pulped mangels. In this manner all the important juices—viz., sugar, etc. —are absorbed by the chaff. This is for milch cows only, for fattening cattle, slicing, in fingers is a better method of feeding. Mangels should on not account bo fed to stock immediately after) being raised, as they contain some substance which causes the animals to scour badly. This disappears as time; goes on, and the insoluble starch is con-j verted into soluble sugar. In the New Year they may be fed, and then they give the best results, while the yellow are, as a rule, fed to stock before the red varieties.

THE CASEIN INDUSTHY

SLUMP IN PRICES. The founder of a casein, factory atj Warmambool, Victoria, Mr S. M. Cot-} tee, states, according to the Sydney "Daily Telegraph," that the factory iff at present closed down owing to a fall in the price of casein making it impossible to carry out contracts which had been entered into. Before the slump in values Mr Cot tee was paying fanners jd per gallon for skim milk, bun ho cannot now afford to give more than id. A proposal to that effect had been submitted to the farmers, who have three months in which to come to a decision. Mr Cottee was not, however, sanguine as to the result of the vote. 1 But if the farmers consented to the reduction the factory will be reopened. Most of the milk goes to feed pigs, and therein lay the chief difficulty of getting supplies at the reduced rate, as pigs were increasing in value. Writing of casein Mr Ccttee said that, prior to the fall in the price of the article, he had shipped sixteen tons to France, for which Se expected to receive Xl2 per ton. Ho had ■ thought it impossible to overstock the market, and had never for a moment entertained the idea that the value would come down. In April - he was advised that the price had dropped, owing to 11,000 tons of casein (8000 from Denmark and 3000 from the Argentine) being put on the London market. He had received)many applications for casein in Australia, after the shipment to France, and had supplied several Sydney merchants at very satisfactory prices. . But, notwithstanding, there was not a great demand for the product within the Commonwealth, certainly not more than 60 or TO tons per annum. The orders supplied to Sydney came chiefly from the painting trade The Australian article was much superior to the imported, and in this connection Mr Cottee evidenced the testimony of Sydney buyers, all of whom expressed themselves in favour of the Warrnambool produce. Over JE7OOO had been put into the works, but an things in this connection with the manufacture were at present in a somewhat unsettled condition, Mr Cottee says he does not know what the result will he, but he intends to carry on again for a time. The fall in price was not the only factor in leading to the temporary closing down of the works. The drought also hod its effect, as instanced by the fact that in January Mr Cottee received more milk from one supplier than he did from five in April.

GLEANINGS

Probably ’ few people have heard of what are known as solid-hoofed pigs, which have lately been 'registered in America as a pure breed. It as claimed that this type of pig is very quick in growth, and matures well, the name being derived from the formation of the hoof. It is alto said that these pigs are comparatively immune from swine fever. In the thinning of carrots intervals of about six inches should be left between the plants, although even less may be allowed or more demanded, according to the variety grown. When grown oq raised drills with two rows on each drill the thinning is usually carried out to allow plants to alternate rather than sit abreast of each other.

The timothy grass is not, perhaps, so well known and not so widely used in pastures as it should be. Timothy hay should he cut when the bloom is just going off the ears. When the land is well manured it is possible to obtain from four to five tons per acre from this crop, but from one and a half to two tons on moderate soil is quite satisfactory, while from three to fire hundredweight of seed might be reaped per acre. The timothy graz-

lags are valuable, as they afford a con*siderable amount of winter _ grazing, 'nhieh is reckoned in some districts to fbe worth almost 20s per acre. To prove the value of strippings, an<T the importance of milking out, it is necessary to study the chemical analysis 'of milk given at different times from the udder. Thus, at the morning milking, it has been said that what is known as the fore milk contains rather less than J per cent, of fat. Half way through the milking it increases to two per cent. of fat, and the last milk extracted shows over twelve per cent. In the evening the fat is rather better distributed, varying from almost one per cent, in tna> first milk to eight per cent. in. the last. There is thus a very strong reason why ■milking out should be carefully supervised, - apart from the fact that when; the cow is not properly milked she is •liable to fall away in her yield. The dairy companies in the Danno•virke district intend increasing their (sphere of operations in the ensuing season, The Norsewood Company, which previously purchased cream only from shareholders, intends buying from outside jsources, paying the freight on milk. The Tamaki Hairy Company recently completed the purchase of the Hua Boa Co-opera-tive Creamery, which will be run. in conjunction with the Tamaki Company in jfuture.

A trial of a potatokligger, which was imported from has been madcv at Mr David Bourke's fartn at. Heigh ICreefc, N.S,W. The trial extended over ithreo days upon a crop which averaged •five tons to the acre, and gave excellent res nits. The ground was a trifle heavy ■when the trial was being witnessed, but the crop was being dealt with at a pace requiring six men to pick up the potatoes. Mr Bourko, after a careful calculation of the cost of digging and bagging with the machine as against tha ordinary fort system, stated that a saving of fifty per cent was being made in> labor. The up-to-date Nelson fruitgrower ; has entirely departed from the old method of planting fruit trees.' Instead of (preserving the roots and spreading them out carefully when the tree is put in the ground, he lops them off close to the stem, leaving a sort of bulbous root. A hole is made in the ground with a crowbar, and in goes the tree. This- method is not adopted to save time or money, but because it is said to'be better than the old one. Instead of having to live with half dead roots the tree makes new ones, suited to the ground in which it is put, and -therefore grows much more healthily than it would otherwise have done.

Land, Ltd. 1 19 6 — Wel’ii Invest. T. and A. Co, Ltd. 0 11 9 — Wel'n Trust Loan, Ltd 7 12 6 GAS— Christchurch £5 8 12 6 — — Feilding 1 0 6 —■ Wellington, pref. 1 0 0 — Meat Peebebviho-. Well’n Meat Ex3 2 6* port, £2 12s 6d — 3 3 0 MANUPACTUBING— Mosgiel Woollen 3 6 6 5 8 0 — Wehing’n Wool'u. ord 3 9 0 Coal— 12 6* Taupiri 1 2 6 1 3 0 Timber— Leyland O’Brien Taringamutu Saw- — 1 7 0 8 mills, Ltd. — 2 3 Hi SC ELLA* sort-* Donaghy , Rope and Twine Co1 4 9 Golden Bay Cement Co. 1 1 0 Ward aaid Co, Ltd. (cum) 5 2 0 —

Argentina and TTru262 000 184.000 120.000 175.000 270.000 280.000 S5.CO0 133.000 40,000 371.0"0 292.0CO Australasia 40,000 15.000 125,000