PASTURE RESEARCH.

Press, Volume LXIII, Issue 19177, 7 December 1927, Page 12

PASTURE RESEARCH.

VALUE OF SUPERPHOSPHATE,

[THE TRESS Special Service.]

WELLINGTON, December 6,

At the quarterly meeting of the Board of Agriculture, th© mineral content of pastures was one of the matters considered.

Sir James Wilson explained that the question of the mineral composition of pastures was becoming a very important problem and occupying a large amount of attention in other countries. They were beginning to learn that though a pasture looked good it might not contain the necessary amount of mineral matter which was essential for the domestic animals' well-being. He mentioned the fact that in some districts superphosphate was ceasing to give the result which had been hitherto associated with its use. It had set him wondering whether some element other than phosphorus was necessary. He had asked Mr Aston, chief chemist (directing the mineral research in pasture), to address the Board on the matter. Mr Aston read the scheme of research which has been drawn up by himself in consultation with Dr. Re«kes, and which included tho investigation of three deficiency diseases and ono disease which has not been proved to lie a deficiency disease, all of which are undoubtedly due to the pasture which is the sole diet of the animals (ruminants in all cases). Dr. Orr, the director of tho Rowett Research Institute, had approved of the scheme, stating that in his opinion the scheme was a good one and should fi£ in well with the joint pasture work within the Empire. Mr Aston described each type of deficiency under investigation and answered a number of questions with reference to superphosphate. Few farmers, he said, realised tho triple quality of this valuable manure, which in addition to supplying phosphorus, also supplies large quantities of calcium and sulphur, all three being elements essential to the nutrition of tho animal. Tho response of crops and pasture and tho stock grazed on them to superphosphate might therefore not always be solely duo to tho phosphoric n-cid. If it was due to the calcium or sulphur, there were cheaper ways ot | supplying them than in Super. Jn any caee there should always (except in the case of sandy lands) bo enough carbonate of limo in the soil to combine with the superphosphate and prevent the reversion to insoluble unavailable compounds of iron and aJumina. Sandy land should not be limed but improvement of its pasture ought to be effected by means of green manuring. FIREBLIGHT. GROWERS' FAILURE TO NOTIFY. [THE PRESS Special Service.] , WELLINGTON, December 6. Three small outbreaks of fireblight •re reported from 'various parts of the Dominion and in some circles the Department of Horticulture is being olamed for tho appearance of the disease. It is pointed out that if effective action is to be taken to meet outbreaks of fireblight, growers must notify the Department as Boon as they <tetect the trouble. Recent cases suggest that, this has not been done, and hi one case the outbreak appears to be directly due to a grower omitting. to notify the fact that the blight had appeared on his land. MERCHANDISE MARKS ORDER. . ANNULMENT REFUSED. (r» CABL*—FBBSB ASSOCIATION— COPTBIOBT.) (ATTBriUIiIJLK AKD K.I. AND SUN CABLE.) LONDON, December 5. la the House of Commons, Mr A. V. Alexander' (Labour) moved that the merchandise marks order, affecting eight trades, and requiring imported goods to be marked with the country of origin, should be annulled. Mr Alexander pleaded that the order ,w« hampering trade. Mr J. Wedgewood, supporting Mr Alexander's motion, said that these orders were thoroughly hypocritical. ,Captain D. H. Hacking, Under-Secre-tary for Hdme Affairs, justified the order, which he Baid was stimulating the purchase of British goods. The motion was defeated by 199 Totea to 67. FEDERAL LOAN COUNCIL. HEW SOUTH WALES JOINS. SYDNEY, December 6. Mr Bavin has signed an agreement whereby the New South Wales Government becomes a member of the Loan Council. WAR DEBTS. AGREEMENT BETWEEN GREECE AND U.S. (Received December 6th, 8.45 p.m.) WASHINGTON, December 5. The Greek war debt to the United States has been funded under a compact which grants Greece an additional 12,000,000 dollars and provides that the latter sum shall be repaid in 20 years, carrying interest at 4 per cent., thus satisfying the Greek claims that the complete original grant has not been , made. The war debt itself is 15,000,000 dollars, and this will be repaid over a period of 62 years, with 3 per cent, interest. SMITH AND WADDINGTON'S POSITION. Director* of Smith and Wadding ton, Ltd., Sydney, hare decided to call the shareholders together at an extraordinary meeting, to eonaider the company's financial position. The meeting will be asked to receive the auditor's report and balance-sheet for the tara* months ended September 30th, a supplementary statement for the five weeks ended November Brd, and the report of the directors on the financial position of the comply generally. The initial report, cover- ™* eighteen months, ended Jane 30th last, Wowed a loss of £26,448. In addition, inero wer« deferred charges on account of demolition of the old building, and formaV??*" 4 Preliminary expenses amounting to lii ??' 'twas proposed to write off The paid-up capital at the J?,, J' " 1 * balance-sheet of June 80th was of i fi * W Jh £94,980 was preference. Binea then there hare been issues of 100.000 preference shares of £1 each, and 100.000 ordinary share*;tf £1 each. Tangible assets on Jonsi 80th were valued at £219.414. There 7^^« b * ak «? T,r i ra " 4nd bn'Ming loan of nipeoded. ' the company are

TRADERS' FINANCE CORPORATION, LTD. NO DIVIDEND FOR HALF-YEAR. [THE PRESS Special Service.] AUCKLAND, December 0. Tho third annual report of the Traders' Finance Corporation, -Ltd., for the year ended September iJOth, states: — The year's trading showed a net profit of £12,57(3 8s 7a, but owing to tho unsatisfactory position of one ot the accounts, tho directors decided to write off £12,000 of it in the \Vitb the addition of the balance of £5(6 8s 7d, the balance in the appropriation account is £2475 7s Id. Out of this the directors recommend the payment of a dividend of 7 per cent, per annum on the preference shares for the six months ended September 30th, which will absorb £1143 3s odj leaving £1332 3s 8d to be carried forward.' As there will not be a dividend on tho ordinary shares, the directors do not propose to accept any fees for the past vear

The retiring directors are Messrs C M. Fenwick and A. E. Warnock.

The company's first report showed a net profit of £4BBO, of which £2535 was appropriated to pay dividends of 7 per cent. In the second year, the net profit was £13,058. of which 7 per cent, dividends absorbed £6251. Income tax for the two years absorbed £3098, and directors' fees £SOO. leading a balance of £5554. With the net profit of £576 for the last year, the amount available'.is £6130. Out of this has been paid a nividend for the halt year ended March 30ih amounting to £3654 ; presumably at the rate of 7 per cent, 'per annum, on both classes of shares. _ The preference capital is now to receive a dividend for the second half year. The paid-up capita! at September 30th amounted to £108,514 los, an increase ol £4900. Deposits total £BBI4, a reduction of £593, while the hank overdraft is £17.174, an increase of £4879. Assets include advances. £123,389, which is £538 less than the amount shown in the previous balance-sheet, and formation expenses £14,279, an increase of £279. DAIRY PRODUCE. APPROXIMATE MONTHLY SHIPMENTS. (PRESS IS3OCIATION TILBOKAir.) WELLINGTON December 6. The New Zealand Dairy Produce Board at ita last meeting decided that shipments should he made approximately as follows: Butter. Cheese, boxes crates December .. 396,500 140,000 January .. 426,000 140,000 February .. 350,000 140,000 March , .. 350,000 140,000 April ~ 250,000 140,000 May ... 200,000 140,000 June .. 100,000 30,000 July .. 100,000 10,000 It is estimated that at no period will any butter or cheese be more than four weeks in store in New Zealand. Argentine. Shipments of butter from Argentine for the present season to .date show a decrease of 20 per cent., and the estimate given by the Board's agent for December, January, and February indicates that shipments for those months will be 15 per cent, below last year's figures. . Canada. On the latest figures available, exports of cheese from Canada show a decrease of approximately 25 per cent. Australia. Up to November 19th, Shipments from Australia are as follows:—l 926-27, 416,960 boxes o£ butter; 1927-28, 243,080 boxes of bntter, a decrease of 41} per cent. The New Zealand Dairy Produce Board has received the following market report from its London office, dated December 2nd:— BUTTER. New Zealand—Officially quoted: Salted 166s to 1725, unsalted 186s to 188s to 190g; but market doting firm at: Salted 170s to 172s (last week, 172s to 1765), unsalted 188s to 192s (188s to 1925). Market active,, with increased demand owing to reports of Aaitralian strike. Australian—Finest salted 166s to 170s (172s to 1765), unsalted 180s to 186s (184s to 188b). Argentine—Finest unsalted, 166s to 170s to 174s (170s to 1765). Dutch Creamery—Unsalted, 191s to 198s (202s to 2065). Siberian—Salted, 156s to 158s to 160s (158s to 1625). Danish—l92s to 196s spot (204s to 2065). Latest f.o.b. quotation 190s, after having been 186s. Retail prices unchanged. CHEESE. New Zealand—New season's white, 98s to 100s (100s to 102s); old season's white, 104s to 105s (1048); new season's coloured, 96s to 98s (99s to 101s); old season's coloured, 102s to 103s (104s). Market quiet. Canadian—Finest white and coloured, September make, 104s to 106s (104s to 106s). English—Finest farmers', 126s to ' 130s (126s to 130 i). Retail prices unchanged. The Board has also received the following advice from its agent in Montreal:—Butter: Montreal, 37} cents (la 6Jd); New York, 51) cents (2s lid).

AERATED BREAD (N.S.W.). Aerated Bread Company, Ltd., after making provision to the extent of £2OOO for -depreciation and taxation reserve, shows a profit of £2356 for the half-year ended September 30th, compared with £139-4 for the corresponding six months of 1926, after £4500 had been carried to depreciation and taxation reserve. The preference dividend of 10 per cent, per annum accounts for £323, and 10 per cent, per annum on ordinary shares, £1750, leaving £ll2O to he carried forward, against £837 brought forward. A comparison of accounts follows;

Six months ended Sep. 30, Sen. 30, 1926. 1927. £ £ Net profit .. ..1,894 2,356 Div., ptef., 10 p.c., p.a. .. 323 323 Div., ord, 10 p.c., p.a. .. 1,225 1,750 To depreciation and taxation 4,500 2,000 Carried forward .. 586 1,120 LIABILITIES— Capital: Ordinary .. .. 24,500 35,000 Preference .. .. fi,465 6,465 Bank .. .. 7,430 14,107 Creditors .. 7,190 8,505 Reserve for depreciation 15,500 9,000 ASSETS— Property .. .. 31,864 44,361 Plant .. 22,333 22,994 Stock .. 4,207 3,514 Debtor* .. .. 3,968 3,475 Cwh, etc. .. .. 1,303 1,000 ELECTROLYTIC ZINC. The production statement of the Electrolytic Zinc Company ot Australasia, Ltd., is a* follows: 4 Weeks ended 4 Weeks ended Oct. 19th, Nov. 16th, 1927. 1927. Zinc, tons .. 3,734 8,753 Of which were nsed at the works 80 60 Silver lead product for shipment to Port Pirie for realisation— Lead, tons .. 510 J3O Silver, oucm M 60,000 „V §O,OOO