GENERAL FARMING NEWS.

Dominion, Volume 3, Issue 769, 18 March 1910, Page 8

GENERAL FARMING NEWS.

_Mr.- J. E; Davenport, of; Governor's Bay, Canterbury, is about to leave for the Argentine with a consignment of about twenty, entire horses; and upwards of two hundred. stud : sheep. -. He will arrive.in time for the international cattle show-, to be held during "May and June. He does not intend to compete for prizes but will make a special New Zealand exhibit .that will be sold at the end of the show. Mr. L. Wilson, of Mount Herbert, will, accompany him, and expects to bo away six months. The heavy rain on Monday, writes the Ashburton correspondent of the "Lyttelton Times," penetrated grass land to ploughing depth, and the work of deep ploughing, which will.,soon be commenced, .will v be comparatively easy-vVThere p.h'n'sy be'eh-a, fairly' heavv Lall' and the front; ranges are snow-capped. The thermometer- on the grass registered one .degree., above , freezing., point., on Monday night. Threshing work','which has been much delayed this season, will receive a temporary check. During last week crickets swarmed in the Northern Wairoa district in 'millions. The remember it;i:and the paddocks on the -river,'' fia'ts, instead of looking green after the recent rains, are as bare of grass as it is possible to bo. The crickets have simply taken possession of tho land, and in some. parts the fields are black with immense moving armies of. them.,,... ~ ~; ;_ . v _ \ ' The" executive 'of 'the Ha'wera Winter Show Building' Company havo accepted a tender of ,£3520 for their show building. This will probably be tlie building with the biggest fioor-spaco in Taranaki, measuring 214 ft. x 92ft., with a 14ft. stud. The tenders averaged for wood and brick .£3933,.f0r wood :ahd:'iron The accepted tender was for a building in camerated concrete.

Sales of farming property .on ■ the Poverty Bay fiats at Whataupoko, on the outskirts of Gisborne, have been effected during the last week or two at £35, £36, ,£4O, and ,£4l per acre.

The llongokokako Cheese Company, Ekotahuua, is advancing 9d. per lb. on butter-fat for the February supply. Advances for .the month total .£533.' The company are shipping 111 cases of cheese to-morrow-for London.

The Nireaha Dairy Company is paying out to-nioiTOiv. £W Is. 3d. for butterfat supplied in February at tho rate of Bd. per lb. 'J'ho company is receiving 2500 gallons per day, tho supply keeping uo well for the time of the year. ,

The comparative monthly statement of the exportation of butter from Victoria issued by the superintendent of exports shows that during February the exports totalled 354 tons, as compared with 353J tons for the corresponding month last [year. The exports for the week ended March 3 amounted to only 31 tons, although the quantity inspected for export was 225 tons. The reason for tho smallness of the export was that the cool storage space in tho outgoing steamers was monopolised by Tasmanian fruitgrowers. .The balance-sheet of the Waikato A. and I'. Association, Hamilton, shows a loss on the year's working of .£l6l Is. 7d. This is accounted for by provision being allowed for bad debts, never before ac- | counted' for, to the amount of .£SO, deI preciation on buildings A's7 45., and loss on the show itself of JtSi "s. 7d., owing to wet weather. .. .;■ ' A syndicate or "Association" is being formed in Mastorton to take up land under the provisions of the Land Settlement Finance Act, which came into operation on January 1. The local paper says it is the intention of the association to purcha?a the tine estate of M'Gregor Bros., at Mauaia, consisting of 900 . acres of spleudid land. Already this season, says the "New Zealand Herald," outside countries have jiurchased Auckland butter to the value of £470,000, and it is confidently expected that the total -will be carried beyond £500,000 before the close of the season. To this must be added a sum of £300,000 as .reoresenting the value at current rates of the oO.OOOcwt. of butter, which is considered to be a moderate estimate of the "annual local consumption and exports to other, parts of New Zealand.

Potato blight and turnip diseases and pests have been doing much damage in the Eaglan district this year.

Says the Mastertoh "Times":—"A number of Opaki settlers have combined to erect five, miles of rabbit-proof netting to protect themselves from a paternal Government which breeds! rabbits on the reserves at the back of their properties. This Government breeding ground swarms settlers' properties with an incessant supply of the pest. The Government recognises no . responsibility as to keeping down, rabbits/on its own territory, andcountry settlers are forced to put up with its' rabbits or to fence them off. at a very considerable expense."

The summer of 1309-10 will be remembered by the butchers, of Auckland as a very'unfavourable one, marked by heavy losses through the deterioration of meat. Tho causes of this, says the. "Herald," have been the continued hot weather, certain lack of facilities at the abattoirs, and the unsuitable trucks, provided by ..the Eailway Department for the. carriage of meat to the city. The loss has. been occasioned chiefly through deterioration, which took the form of bono taint. According to Mr. -. Geo. Knight, who has had long experience in the butchering trade, and is a member of the Abattoirs Committee of the Auckland City Council, the leakage from this cause has been so enormous that, he does not caro to calculate it.

Interviewed in. Ashburl'on, Mr. E. H. Boyle, manager of the Eltham Cooperative Dairy Factory Company, stated that the question of the' breed of cattle had a most important bearing on tho success of dairy farming, and a number of farmers, who had not done so well as they should have dpuo, could trace their non-success to failure to cull their herds and to keen the right breed of cattle. The Jersey-bhorthorn cross was the most popular in the district, while tho purebred Ayrshres also came in for much favour. Personally, he favoured the .Ter-sey-Shortborn cross, because, they were cattle that milked well, were easily kept and were invariably the. highest-testers. In reply to a further question, Mr. Boyle 'said that suppliers' herds ranged from 12 to 120 cows each, and the total number of cows milked was approximately 7500.' The.land, in tho Eltham district varied considerably, much; of it being able to. support at the. rate, of one cow per. acre, but the greater . part successfully depastured cattle the whole year round at the' rate of 21 acres per cow. In the spring of the year a good all round dairy herd commanded a value of at least £7 10s. per cow on a selling basis.

Mr. J. Wolfram, one,of.the Home.woolbuyers, who has been attending the local sales, will leave for London next week by the Taihui; :;: - ;; -"-'—'-—""":"-'-

The .annual report of the. New Zealand Sheepbreeders' Association states that in Volume 5, which was'published during -the year, there-* are. 541 purebred flocks, made up as follow:—Lincoln' 25, English Leicester US, Border Leicester 193, Romney Marsh 48, Southdown 39, Shropshire 55, merino 22, Cheviot 2, Rycland 7, Oxford Down 1, and Dorset Horn 1;. total, 541. 'Thirty-one'.flocks, were'dispersed or transferred,;;'viz'.-—Lincoln 2,' 'English Leicester 9, Border Leicester 11, Romney Marsh 3, Southdown 3, and Shropshire 3; total, 31'. '. Forty-four new flocks wore admitted, as follow:—English Leicester 9, Border Leicester 15, Romney March 5, Southdown'l4, and Shropshire 1; total, 44. !Several, employees.., at, :the. Fairfield freezing works,' Canterbury, '' have invented a machine for branding meat for export purposes. ' Under the present system meat is branded with ink, and this method has several objections, inasmuch as the brand can be removed and replaced, thus opening the door to fraud; while many people contend that ink is •injurious when consumed in ever so small a quantity. The new invention, which is not yet perfected, automatically heats the brand, and when applied to the carcass sears a neat and intelligible imprint, ■ which it is impossible to efface; and in addition to this it does not disfigure the carcass, as the ink brand frequently does when ;tho meat '.haws. It is understood that the ■ in-

.•• ".tors ■ are' taking steps to protect their machine, which, .when brought to a stage

of, perfection, will no doubt come into general' use at freezing works.'

LIVE STOCK SALES. Messrs. Dalgety and Co., Ltd., report:— At our Palmerston sale yesterday we had a very good yarding of- stock; the majority of which wcrß disposed of at prices as below:—Two-tooth ■ wethers Ismail), • ss. 6d.; 4' and ivycar ewes, 6s. 10d.', Bs. 2d. to 10s. lid.; 4 and 6-tooth ewes, 13s. 7d.; Lincoln rams, 125.. to 155.; fat cows, £3 165., £4 to £4 15s. to £5 7s. 6d.; forward bullocks, to £5 55.; heifers, £3 3s. to £4 :ss. ' The following lines were Eold on account of Mr. Chas. Hopping:—Tcs 18-months Holstein heifers, £6 12s. 6d.; 7- 2-year Holstein heifers, £7 155.; 7 yearling Holstein heifers. £4 Is.: fat bullocks, to £6 17s. 6d.; fat heifers, £4 125.; steers, to £4 9s. .

31 cs6rs. Abraham and Williams report at their sale at Palmerston North on Thursday as follows:—We had a, full entry of sheep, ever 5500 being offered for sale. Competition for all classes was keen, and, with the exception of one line of blackface lambs, every pen was sold under the hammer at satisfactory prices. A medium entry or cattle also sold.well. Two-tooth ewes, 135.; small 2-tooth .ewes, 10b. lid.; 6-tooth ewes, 15s. 6d..t0 13sl Bd.; 4-year ewes, 10s. to lis. 9d.; 4-tooth to f.m. ewes, 9s. 6d. to 10s. 6d.; f.m: ewes, 7s. 6d. to Bs. lOd.; cull ewes, 3s. 6d. to 65.; woolly lambs, 9s. 5d.; shorn lambs, 7s. Id. to Bs. Id.; cull lambs, 4s. Id. to 55.; 'English Leicester rams, £2 25.Romney ewes. 1 guinea to 2 guineas; springing heifers, £5 55.; heifers in calf, to 10s. 6d. to £3 155.; fat cows, £4 35.; empty heifers, £2 55.; weaners, 235. 6d.

.Messrs. Abraham ar.d Williams, Ltd;, report as follows:—At Waikanae on Wednesday wo had a very heavy yarding of sheep and a good yarding of cattle. Buyers lor steep were not as keen as heretofore, except in the case of forward wethers, which sold readily, 'but, except for one line of ewes and one line of backward wethers, we eold tho whole of our entry. The cattle cold very well, and the whole entry was sold at prices, in favour of vendors* Wo nuotc:—On account of' Messrs. Whiting Bros., 4 and 5-year ewes. Us. sd. to lis. 7d.; on account of Mr. H. R. Elder, owe lambs, 7s. Id.; mixed lambs (small), ss. Id.; mixed'2-tooths.-105.'7d.; 3 and 4-ycar bullocks, £6. On account of other vendors:— Forward wethers, 12". to 12s. 7d. to 13s. 4d.; 2-tooth wethers, 10s. to lis. 6d.; 2. 4. 6-tooth and f.m. ewes, 10s. to 10s. 3d. to lis. Id.; forward ewes and 'wethers 10s,. 3d.; aced ewes, 2s. Id. to 4s. 3d.; aged rams, 7a. 6d. to 305.; 3 and 4-year bullocks, £5 !55., £6, to £6 75.; 2i to 3-year steers, £4 7s. to £4 15s:; 2-year steers. £2 15s. to £2 17b.; empty 2-year heifers, £2 15s. to £3 65.; forward cows, £2 to £2 12s. 6d.; mother-reared weaners, 355. 6d.; others, 20s. to 30s.

The New Zealand Loan and Jfereantilo Agency Co., Ltd., report:—At Palmcrston North on Thursday we had a good entry of both sheep and cattle. .. Sheen were in good demand, and sold well, every pen being quitted under the hammer. Sheep: Cull ewes, 45.; store ewes. 7s. 2d. to 7s. 6d.; forward ewes,. 7s. lOd. to Bs." Bd.; sound Bomncy ewes, lis. 4d.; 4 and 6-tootlt ewes (small), lis. 4d.; forward wethers, 12s. 4d.; fat lambs, 9s. 4d.; Romney rams, 2 guineas. Cattle: Store cows, £2 10s. to £i 2s. 6d.; fat heifers, £4 2s. to £4 75.; cows and calves, £3 125.; 3*ycar steers, £5 Os.; bulls, £2 ss,

COMMERCIAL ITEMS. BANKERS' PBOFITS. .Bankers' profits in the United Kingdom during 1909 were affected by the ca;-y state of the money market in tho first half of the year.' The total net profit of 26 banks for the year was £6,506,000, against £6,602,003 in 1908. . These figures are far short of l ii 0 o s ,?i? r 19 ? 7 ' whl!n " rofit3 amounted to £7,710,000. One of the most interesting facts is that Lloyd's Bank shows a fuU of £73.000 in profits. That result, followi:;- on a.drop of £187,000-in profits ill 1908, led tD the dividend being reduced from 18J par cent, to 16} per cent. The explanation furnished by the directors is that there was a somewhat limited demand for accommodation at some of tho principal centres of ..he bank s. business, so that the larco amount of deposits (£76,000,000) could not he remuneratively employed. Interesting speeches wero made at the half-yarlv meetings of the different banks, especially at Parr's, where the chairman (Mr. Cecil Parr) dealt with the subject of recent bank amalgamations. He took as his t»xt' the tendency for an aggregation of capital into larger masses, and contended that such being the in respect to industrial enterprises, bankers had to conform to the law of development. They had to sec that the banks were strong enough to finance large industrial combines, otherwise they would lose profitable business. In addition, ,ho held that the amalgamations meant greater security to the public, as the larger. concerns held larger proportionate reserves and a bigger percentaEO of cash.

MUTUAL- LIFE OF NEW YORK. The operations of the Mutual Info Insurance Company of New York for 1909, show that the new insurance issued and paid for amounted to £21,501,000, an increase of £1,891,000; total income, £17,718,000, an increase of £269,000; payments to poliovholders, £11,321,000, an increase of £447 000 • total expenses, £1,811,000, an increase of £130,000; divisible surplus, ,£2,546,000, an increase of £259,000. Assets, £115,014,000 an increase of £4,529,000.

BAND DIVIDENDS. The dividend record for tho Hand in 1909 is a remarkable one, inasmuch as though the profits secured were less than in. 1908, the amount to be received by shareholders is greater by £769,127. The corrected and final total of dividends for Hand mines is £9,305,000, compared with £8,536,773 for. 1908. The profit of the Hand for 1909, was approximately £11,812,000, and the production was over £30,000,000. The net result of tho year's work is that 78.C per cent, of the profits declared will find its. way. into the pockets of shareholders. The amount accruing to the Transvaal Government in profits tax may bo taken at about 8 per cent. The balance of 13 per cent, represents debenture charges, capital expenditure .defrayed out of profits,, and the earnings of certain companies which are not yet.dividend paying. In 1908 only 71 per cent, of the profits was paid to shareholders.

Tne policy of larger .units and consequent, cheapening o£ costs find ample vindication in the fact' that the percentage of dividend" to the entire Rand production is higher now than it has been during the triennium: and, it is safe to say, in any previous 'year of the Band's history. In 1909, it was 31 per cent., in 19C8, 29.6 per cent., and in 1907. only 26.3. per cent. To express the matter differently, and in even more convincing fashion, the . shareholder in Hand mines is now receiving 6s. 25rt. per for every sovereign won. as against ss. 3d. in 1907. In pro-war working the profit represented one-third of the produce, but nothing like 33 per .cent, was declared as dividend. .• The increase .in dividend has been.secured in spite of a drop of £200.000 in'aggregate profit. .'No fewer'than 49 companies out of 61 are. included in the list of dividend payers.

NOTES. According to' a, Danish Consular report, tho butter trade in; China, has been .completely transformed'during the last couple of years. Formerly, the Chinese themselves never used butter, and the Europeans had to use preserved butter. Danish preserved butter of the different well-known brands was used for tabic purposes, whilst cheap French and Dutch butters were used in tho kitchen.'.-Of late, however, Australian and Siberian butter has been imported, at considerably cheaper price: than tho better kinds of'preserved .butter. •:Tae official-iestimates' of the; results of the, Argentine harvests .ia:'wheat, -linseed, oats, and maize for 1910 are:—3,825,000 tons wheat, 000,000 tons linseed, 591,000 toss oats and ,5,000,000 .tons maize. • According to. present ruUng'.priecs these would be worth £62,664,000. . _The'revival of activity on the German' Bourse during the past year is shown by the returns of revenue derived from tho stamps on contract notes, wh'ch is officially published -at 19,700,000 'marks for' ISO 9, aa increase of 9,000,000 marks over the preceding year. This does'not reach, howoyer, the high-water, mark, of 1905, when the JfSSS dcTiv ? i from this source stood at 21,600,000 marks. ... _Sinco the r creation,bf tho-offico of Public Trustee in London, most of-the.joint-stock banks in that city, have established separate, departments'* lon the transaction', of business ■as; executors-and trustee!. The London City and Midland Dank has, however, made a new, departure, by forming a separate company called the London uty and Midland Executor and Trustee ?rS mi, ?f^ ; Ll P"ted.;vyith'a capital of £500,- ™°-.: Under- the. scheme as "detailed b7- the chairman' at the. last half-yearly meeting of the bank, the'whole of the caoital in the new concern will be held by the parent and directors r wilfbT the same. The amount of the capital ought to inspire the public with confidence in the new organisation, but in respect to costs of administration, beneficiaries, asd others concerned.should; find, the P.ublic Trustee .cneaper/.than.; any,;-compa'ny!',V ■ Lluhtee Customs revenue collected at Wellington yesterday amounted to £1779 13s. 3d.' LONDON WOOL SALES. PRICES HARDENING. By Telegraph-Press Association-Copyright

At 4 . , , ■ , London, March 16. At the wool sales there was considerable animation and spleEdnjfcompetition. Pr-'ces for merinos are hardening.

Messrs. Murray, Roberts and Co. have received the following woo! market cablegram from/their London agents, Messrs. Sanderson, Murray and Co., dated March 16 :-Mcnno market very Ann. Pine greasy crossbred shows no material change. Compared with last London sale's closing ratei ■Iml f re . d « erea ? y * c S arsfi t0 meimm, suit!' able for. America, declined 7J per cent to 10 per cent; other descriptions declined 6 per cent.

', WHEAT. By Telegraph-Press Association-Copyright mk , . .. .'London, ■ March' 16. 53&{TuK. vlslble 6Upply of wheat ls TALLOW. ■»,'.,,,. 'J „ , London, March 16. „ „} ™ ta , l j ow , B r ales 930 casks were offered ? nd '™? s ?' d '' 'Mutton, fine, 375. 6d.; medmm, 345. 6d; Beef, fine, 375.; medium, 345. ..SILVER. „.. . , London, March 16. Silver is quoted at 233 d. per ounce. THE METAL MARKETS. By Telegraph—Press Association-Oonvrleht. . London, March 17. mo^ P hT£5 S 9 P °lk.ir 78 - P£r ton: th "° m^G SP | 1 t "« thre. COLONIAL PRODUCE. By Telegraph-Press Association-Cooyrieht m „. ... „ Sydney, March 17. Wheat, 4s. Id.;, flour, £10 ss. Oats. Tasmaman 2s 2d; milling, is... 3d.; white, 2s 7d ; barley Cape feeding, 35.; maize, 3s 2d.; bran and pollard, £4 10s.; potatoes lasmaman, £o ; onions, Victorian, £4 10, Butter, 985., 100s.; cheese, ad/; bacon. Bi"d. ■on. . a .j „ Melbourne, March !7. Wheat, As. Id; flour. £10; oats, Algerian feeding, 25.; milling, 2s. 2d.; barley. Can" malting 2s. Bd. • English malting, 4 4d; maize, 2s. lOd.; bran and pollard, £4 15=.: potatoes, £3 ss„ £4; onions, £3 7s. 6d., £3 u }li ? cs -n; H^ a ' Ty lots unchanged; light do., id. to |d. lower. w,,„„. * <j „ Adelaide March 17. .Wheat..4s. Id.; flour. £8 155.; oats, Algerian feeding, is. 9d., Is. 10d.- barlev irnii iug, 3s. 10d.; bran,' lgj d . ; pog'^d STOCK EXCHANGE. ißy Telecranli.-rrcss Association. „* , _ ' , Dunodin, March 17. JBtock Exchange Eale;-01d Hauraki, 3s. 9d.