SOUND PIG MARKET

Sun (Auckland), Volume III, Issue 749, 23 August 1929, Page 10

SOUND PIG MARKET

ASSOCIATION’S BRISK YEAR POOLS FINALISED ‘ (Prom Our Oxen Correspondent) HAMILTON. Thursday. Successful operations during the past year have been accomplished by the New Zealand Co-operative Pig Marketing Association, whose second annual meeting will be held in Hamilton on September 4. In his report for the rear ended June 30, 1929, Mr. S. H. Judd, the chairman, said the association had experienced a successful season in every way. It had handled no fewer than 42,943 pigs, an increase of 15,210 on the previous season. Of these, 32.21 b were exported to the United Kingdom and Australia, 9,063 were sold locally, and 1,115 were condemned. The remaining few pigs were in the works on June 30. Owing to the satisfactory markets prevailing throughout the year, the association had been able" to ebur practically the whole of its stocks. This had entirely eliminated any carry-ing-over of porkers to meet the early winter market in England. Pools were now finalised to the end of January, 1929, and bonus cheques on pigs received during February and March, 1929, are being prepared and should be in suppliers’ hands shortly. These cheques would practically complete the season, the number of pigs handled in April, May and June b.eing small. REDUCED COST Last year the cost of administration per pig was 4s 3d and had been reduced to 4s Id this year. This was accounted for partly by the increased number of pigs handled, but more particularly by the fact that good organisation had resulted in fuller railway trucks with correspondingly lower freight cost a pig. The executive had decided that the time was now ripe for the capitalisation of the association. At the annual meeting, a special resolution that the association go into liquidation will be brought forward so that the new company can take over the business. The company’s proposal will be fully explained to the meeting. Messrs. B. IT. Budden and J. E. Leeson retire in rotation and offer themselves for re-election to the directorate. The balance-sheet discloses a credit balance, covered by stocks in freezer or afloat, of £2,638. GOLD COIN FOR LONDON £1,000,000 FROM AUSTRALIA (United P.A.—By Telegraph — Copyright) (Australian and N.Z. Press Association) Reed. 9.5 a.m. MELBOURNE, Today. Gold coin valued at £1,000,000 lias been shipped to London by the Commonwealth Bank of Australia. It has been sold to the Bank of England, and will assist in building up that bank’s gold reserve, -which has recently been steadily depleted by the Continental Powers. A London message reads: The “Daily Express’’ says the gold from the Commonwealth Bank will certainly help to strengthen the Bank of England’s position against autumn demands. On several occasions in the past the situation has been saved by the receipt of gold from unexpected sources. It seems as if the same is happening again. The market is consequently more hopeful that an increase in the bank rate will be avoided. WHEAT, FLOUR AND PULSE (Australian and N.Z. Press Association) (United Service) Reed. 10.50 a.m. LONDON, Thurs. ■Wheat.—Cargoes are from 6d to Is lower, owing to the slump in America; but buyers are not attracted. Parcels are from Is to 2s 3d down. Futures.—London, August, 53/10; Oc-tober-November, 53/G; January, 53/11. Liverpool, 9/8; December, 9/1 to 7-S; March, 10/3L The spot trade is dull, with prices generally lower—Australian, ex ship, 545. Flour is firm.—Australian, ex store, 37s 6d to 38s. Oats are tending to be easier, and peas and beans slow.