COMMERCE AND FINANCE

Otago Daily Times, Issue 20292, 28 December 1927, Page 14

COMMERCE AND FINANCE

THE DAIRY INDUSTRY.

ELIMINATION OF SCRUB BULLS. (Peb United Press Association.) WELLINGTON, December 27. If the farmers of New Zealand could raise their average butter-fat production by 101 b per annum it would mean another £1,500,000 annually in the pockets of the producers. This calculation, based on a return of Is 3d per pound for butter-fat, shows ■what can be done if the rest ol the Dominion follows the lead given by the Waikato dairy farmers. The average butter-fat production last year was 199.661 b per cow. Four seasons of systematic herd testing and culling in the Waikato, however, shows that the percentage of cows giving up to 2001 b of butter-fat per year has dropped from 48.2 to 25.1. At the same time the percentage of cows producing from 2011 b to 3001 b of butter-fat has increased from 40.1 to 46.5 and the percentage of cows giving more ■than 5001 b of butter-fat has risen from 11.6 to 28.3. The New Zealand Farmers’ Union is continuing its campaign for herd improvement in the Dominion, and the elimination of scrub bulls. Illuminating figures have been prepared by the union showing the proportion of scrub and purebred bulls in the Dominion, and are eloquent of the need for improvement. Latest advices show that there are 58,636 bulls in New Zealand aged two years and over, and that of these only 10,871 are purebred. More than half thq purebreds are Jerseys and one-third of the balance are Friesians. The total of purebreds is made up thus: — Jerseys 6458 Friesians 1535 Shorthorns 745 Aberdeen Angus ... ... 572 Ayrshires 477 Milking Shorthorns •... 474 Herefords 467 Red Polls 136 Guernseys 5 Alderneys 1 Other breeds 2 In West Australia, South Australia, and Tasmania, it is pointed out, every hull over the age of six months must be registered at a fee of 10s. Registration may he refused if the bull does not come up to the standard adopted unless the Appeal Board provided directs the registration. In Tasmania, it is proposed, after a few years, to disallow grade bulls and permit the use of purebreds only. Ireland is now considering a similar step, and the Free Stale Government is being asked to introduce legislation for the registration of all bulls which must he from dams with certified milk records. VICTORIA -NYANZA SUGAR COMPANY. A circular and annual statement of accounts which have been issued to shareholders by the directors of the Victoria Nyanza Sugar Company, Ltd., states that it had been expected that the managing director (Mr G. R. Mayers) would be sufficiently recovered from his recent illness to have left London in time to reacn Melbourne for the annual meeting in December. Cable messages received state that Mr Mayers will not he able to travel before January. In the circumstances and in the hope that Mr Mayers can preside at the annual meeting, it is not to he held until February. Because the crushing season in Kenya, where , the company conducts its operations, continues until April, the directors have decided to .ask shareholders to make the financial year end of April 30 instead of March 31. Such an arrangement, they say, would enable a better allocation of costs to be carried out, and, in anticipation of approval being given to such an alteration, the balance sheet now issued is made up to April 30 last. In view of the proposed alteration of the company’s financial year, payment of dividends will in future be altered to February and August. Such date will enable the company to use funds in hand instead of having to arrange for financial accommodation as in the past. The balance sheet figures, in view of the alteration of the date, are for 13 months. Among liabilities sundry creditors at £15,481, have increased by £9022, while the item George R. Mayers’s current account has been reduced by £42,168, and now stands at £6384. Among assets the item planta. tions development account has been written down by £5705 to £45,430, while plant, mill buildings, etc., at £213,061, shows an increase of £5079, Against a reduction of £28,815, £9806 in cash, stocks on hand, and stores are larger by £24,482 at £48,096. Sundry debtors at £6503 compare with £7532 a year earlier. Net profit for the period of 13 months was £75,159, after making provision for depreciation of £21,419, compared with a profit of £43,699 for the previous 12 months, after allowing £14,238 for depreciation. With £1799 brought forward, and deducting £22,500 required for the interim dividend paid out of profits for the period, a sum of £54,458 remained to be carried forward.

THE PORK INDUSTRY,

LOCAL AND OVERSEAS MARKETS.

MINISTER EXPLAINS PROPOSALS. (Pes United Peess Association.) HAWERA, December 27. Interviewed on his arrival here on Saturday, Mr 0. J. Hawken, Minister of Agriculture, gave an outline of the considerations which led to the Government's decision to grant a three-year subsidy to the pork export trade, estimated at £30,000 over the first year. " The Government recognises porkraising as an essentia] branch of the dairying industry," said the Minister, " and the question of giving assistance to the export trades during what seems likely to prove a difficult period has been under consideration for some time. Last season about 69,000 cwt of pork was exported from New Zealand to the United Kingdom, I and another 16,000 cwt was sent to Australia, th e total value (about £190,000) being an important asset. This season's exports are expected to be considerably greater, and the indications are that prices will be lower. In view of this there is a likelihood, unless encouragement is given to dairymen to continue pork raising for export, that an undesirable decline may eventuate, with a resultant loss to the industry and a lowering of the export figures. Another factor is th(> competition with other suppliers. The Danes, in particular, are sending a large amount of bacon to the United Kingdom. The value has been about the same as that of their butter. The Danish exporters receive a bonus of about 6s a carcass." Asked if he could indicate the method of allocation, th e Minister said the details would be fixed after consultation with the Dairy' and Meat Boards early in January. It could be taken for granted that only standard weights and first qualities would be subsidised. He was hopeful that payments would be made on pigs killed for export after January 1.