GENERAL FARMING NEWS`

Dominion, Volume 4, Issue 1067, 4 March 1911, Page 8

GENERAL FARMING NEWS`

l[r* J. D;inlo|), a member of tho Scotch Commission of Agricultural Experts. who is now in New Zealand, is to 1)0 0110 of tlie judges at the Royal Agricultural Show in Sydney.

.The New Zealand Flaxmillcrs' Association has decided to approach tho Kailwav Department and ask that tho engines bo provided with efficient spark arrestors, and also that a couple of men be stationed at tho most dangerous places during the dry season. This action was decided upon in consequence of tiio fires which occurred in the flax area a few weeks ago. In the course of an article in the current number of tho Agricultural Department's journal, Mr. \V. M. Singleton (tho assistant director of the. dairy produce division) says: "The season has furnished, during the period under review, an abundancp of feed in most of the districts where cow-testing work is being carried on, and good cows have produced well. Although somo dairy farms aro carrying rather much stock to enable tho good cows to do their best work, a number of farmers, oil the other hand, have found tkomselve.s with insufficient stock v.to keep the pastures in the best condition for producing milk. Grass has gone to seed, has become dry and .fibrous, and when such is the case it is not sufficiently succulent to prove as palatable as it should be.for -dairy cows. Under such conditions cows must bo of special-purpose dairy tendency to prevent their putting fat on their frame instead of milk in'the bucket."

The value of lucerne to farmers has been proved by Mr. B. Morriss, of llongokokako, who laid down an acre last year (writes the Eketahuna correspondent of the AVairarapa "Times"). This year Mr; Morriss cut' foui tons of hay off the patch. He then placed 50 lambs on it for a month. Tho lucerne was given a spell, and is now growing rapidly. Mr. Morriss states that no sheep should be put on the first year, as they eat it right out.

A • meeting- of the executive of the New Zealand Flaxmillers' Association discussed the .advisability of sending another deputation to the Prime Minister regarding the desired bonus upon machinery for-improving t'lie quality of hemp. A letter was received from Sir Joseph Ward stating that he did not intend taking any more deputations till his return from England, ancl tbo meeting (says the "Standard") decided, consequently, to' hold the matter over m the meantime.

While in Gisborne, Mr. J. Dunlop (a member of the Scotch Commission) was interviewed. Touching on the subject of dairy cattle, the visitor said that be had seen a great many in the district, and he considered that there was ■ ample room for very considerable improvement. He had been making extensive inquiries regarding yields, and could not consider them at all satisfactory, in. view of the magnificent pastures, and by no mentis reflecting; credit on that, milk-producing machine—the cow. "Most of'the cows I sawj" Sir. Dunlop went on to say, "and I saw. a good many, appear to bo of a nondescript sort of breed and containing nondescript crosses of a great manv breeds. Your dairy farmers should undoubtedly go in for a pure breed. They-.'cattle would then l>c, much truer to tyne, and one propcrly-brod cow would vield more than three or four nondescripts."

At a meeting of the Finance Committee of the Danncvirke A. and P. Association, the secreta'ry submitted a rough balance-sheet of the show, which• (■says the "Advocate") ,though incomplete in some details,'-vtoKf. sHiTiciOht^to'indicate, that tho show had been" an undoubted financial success.

COMMERCIAL ITEMS. ' ! »tu eii'lnow urm ji 11 inn ...... INVESTMENT SHADES.' Transactions recorded in investment shnrcs yesterday were:- Christchurch M»at ,(£10) n.t; £15 12s. 6i1., Westnort Con! at'23s. 6d„ Taraivaki Petroleum at 13s. 3d., and New Zealand Powell Wood Proco.-.s (.£1) at 16s. 'i'ho buying and' selling quotations were as under:— Buyers. Seller.* £ s d. £ 3. d. Rational Bank 6 0 0 — flank of Xcsiy Zealand..'. 11 0 0 — Union Bank 65 0 0 — • National Mortgage 3 4 0 — Well. Investment OUO Oil' 6 Well. Trust and Loan ... — 7 14 0 Fiilding Gas ' 116 12 0 Kanier Gas 1 12 0. 0 . . — Well. Gas (£10) — 19 0 0 N.Z. Insuiance • 4 2 6' 4' S O Christchurcli Meat (£10) 15.12 6 * — Gear Meat (£ll 3 4 0 . — Meat Export (£5) 6 5 0 — Meat Export (£4) 5 3 6 — Meat Export (525. 6d.) 3 0 0 — N.Z. Shipping ; 11 0 0 - — Union . Steam 117 6 — Well. Woollen (ord.) — 4 0 0 Well. Woollen fpref.) ... 2 16 6 - Westport Coal — 19 0 Leylarid O'Brien — 17 3 Manning and Co — 4 12 0 Miramar, Lid — 0.2 6 N.Z. Con. Dental 12 6 13 6 N.Z. Paper Mills — 14 0 Sharlaud's ordinary 13 0 — • Sharland's preference 13 0.. — Taranaki Petroleum' 0.13 0 — Taringamutu Totara ...... — 2 8 6 Wbitcombe arid T(Jinbs ... 6 6 0 , — N.Z. Farmers' Co-op. (£5) — 5 6 0 WELLINGTON. . WOOL SALES, Tho last of the Wellington wool, sales for the season 1910-11 was held yesterday, and while growers have no cause for complaint,it is doubtful whether tho brokers can re. Bard the situation as satisfactory. Everyone expected" that the offerings at the local sales would, this season, show an expansion and increased storage accommodation, costing hundreds of pounds, Was provided, but the results - show that there was a decrease in tho offerings. The absenco of American operators may have caused growers to ship their clips to London, but, whatever, tho cause, tho shrinkage is a realised fact. The offerings at tho five sales, compared with tho figures for tho previous season, show as undo?:-- • 1909-10. 1910-11. Sale in— Bales. Bales November 3.CC4 1,295 December 11,050 8,253 January ; 19637 22,700 February 16.358 12,672 March 2,535 - 2,544 ' • 53,584 47,494 The offerings wore substantially smaller in November, December, and' February, but, in Janucry, there was a. good showing. The local sales deserve the support of the on many grounds, not the least being tho generally fair level of values and the promptness of settlement. SEVERE OIL COMPETITION. Tho supremacy of the Standard Oil Company in tho oil trade is being menaced in Europe, and, • as the compacts between the ' principal producers have been set aside, tho competition is now very strenuous. Tho sceno of the struggle at present is China, and thither oil has been dispatched in enormous quantities. Ahout thirty vessels are believed to havo been chartered, by tho two organisations, and these consignments will be at the disposal of tho Chinese at cut prices. Tho Chinese market has hitherto been regarded as a special preserve of tho "shell' company, and it may bo taken for granted that the directors will not allow any rival to gain a permanent foothold in that part of the world. Whilst the Standard Oil Trust is paramount in the New World, the "shell" people have attained an almost impregnable position in the matter of supplies, and their enormous financial strength causes them to havo little to fear from price-cutting tactics on the part of trade rivals. In the East oil has been struck in largo quantities on the company's property at Sarawak, in Borneo, anil a. refinery, with the requisite pipe line to the coast, is to be erected forthwith. In Egypt oil wells arc to he acquired, and a refinery erected at Sties, which would command ono of the most important trade routes in the world. In the event of the use of oil becoming general for purposes of fuel, a refinery in this position is of some strategic importance. The financial resources of the Boyal Dutch-Shell organisation nvc in keening with the magnitude of their operations. A YEAR'S SHIPBUILDING. . It is interesting to notice from the annual summary ot shipbuilding in Great Britain and abroad, that the United Kingdom was still well to the front last year as regards the construction of sea-going vessels. Out of -331 such steamers, aggregating 1,209,100 tons burden, built by all countries, over 731 per cent, was launched 1 ia tlio United Kincdom. Considerable in-

crenscs in tho tonnage launched vrere re* cistcred by the principal foreign countries. 1 the increase on 1909 in the ca*e of France beintf 91 per cent.. Germany nearly 24 per cent., Holland 20 per cent., and the United States 39 per cent. Burins 1913 a totil of SCO vessel;;, nsKregrUins 1,143,103 tons, was launched in the United Kingdom, representing an incrca?e of just over 15 per cent. The rapid disappearance of the ol;l type of sailing vessel is noticeable; practically the whole of the tonnage launched wa3 of steel, and over 994 per cent, was steam propelled. The mortality list amonjr sailing vessels was also relatively, heavy, so that as a result of the past year the sailing tonnage of the United Kingdom has decreased by 190,0Cfl tons, rind the steam touuage increased by 235,000. NOTES. The Botany Wool Combiner "Mills (F. W, Ilughes, Ltd.) are making rapid progress in the manufacture of "tops," the total quantity produced last year being 1,060.000 lb. It is anticipated that, during the current twelve months, the output will bo 2,409,0001b., and moro afterwards, tho requisite machinery having bson ordered. After providing for depreciation, etc.. tho years net credit, balance was £18,587, as compared with .£13,037 in-1909, aud, including £2038 brought forward, there was £20,625. Tho dividend of 10 per cent, (including the interim dividend) absorbed £13,407. and £SCCO wag placed to reserve fund (making it £10,000), leaving £2219 tD be carried forward. ... In the second week of January some little uneasiness was cau«cd in New York by the announcement that the State Comptroller had closed the Carnegie Trust Company, which had a capital of 1,5C0,CC0d01., a surplus of 73S,CCGdol„ aud deposits of nearly 9,0C0,0C0d01., and by the subsequent announcement that the- Equitable Trust Company had aco.uired the Madison Trust Company, which had a share capital of I.OOO.COCdcI, a surplus of 847,0C0d01., and deposits of 6,686.0C0d01., and that Messrs. «T. P. Morgan and Co. had guaranteed the solvency of the' Twelfth Ward and the Nineteenth Ward' Banks. But there operations- romoved certain weak elbmenis in the financial situation, and- it was expected that tho result would b6 beneficial. Tho production of spelter in Europe and tho United States last year showed a considerable advance on the 1909 figures, according to the statistics just published by Henry E. Mcrtw and Company, Limited. The total, including 500 ton? from Australia. was 802,200 tons, or 51,300 tons more than in tho previous yenr. . Tho European output advanced from 534,200 tons in 19'9 to 555,100- tons, or an increase of 20,900 tons. The United States registered an increase of just over 10.CC0 tons at 246.7CQ tonr\ Values ranged-somewhat higher during the year—the average price per ton being £23. against £22 3s.r-and were the highest F.incc 1997. The total imports into England were 121,100 tons, or an advance of 18,500 tons. ' The record o" railroad construction in the United States last yenr shows 4122 miles of additional lino added to tho total, making 47,185 miles of new railroad brought, into onaration there in xho decade >1910-10!- That sounds ! great, and it is a enin on .the previous dccaUc, when only '32.014 miles were "peno'i. But the ton years--'lBBl-1699 was the period when the greatest activity in the constt action of new railroads was shown, for in ihot period no. fewer than 73,406 miles were brought into operation in the United States, and its far as the finances o? the country were concerned, thoy were at that time unduly strained in con«eouenco. "More recently attention'has'been directed to the improvement of tho existing railroads rather than to their extt-rifinn. and cxcept in the newer districts that pays better. There ore now 239.550 miles.of lino, in operation in the United States. Customs duties collccted at' the nort of Wellington yesterday amounted to £2130 3s. 4d. BANK OF ENGLAND RETURN. By TcJegraph-Pres? Association—Oopyrtefc*. (Rec. March' 3, 7.30 p.m.) London, March 2. The Bank of England return issued for the week, ended "Wednesday, March 1, is-as under tr- . -

Issue Department Note Issue —'£y-5.512.CC0 Gov.dobt ... £11,015,030 Other securi-tiy.-j . 7,434,000 GoU „. 37.CC5,000 £05i512,G00 £35,51:!,C00 BANKING DEPARTMENT. . Proprietors' * ' ' Govt, sccuri(Capital, £14,053,000 . tios... ... i 11,639,000 . Public dc- Oilier securi- ' posits ... 10,023,000 ties 32.705.000 Other ac- ■ posits. ... 33,2*1,003 Kotes .... 27",000, COO • and other bills 3.693,000 Coia ... 1,091,C00 ■'''i- ' - £76.514.0C0 •' •• • '£76,91-I,COO 'I tllo > IciHlii& , '.Vtemß of the Ban 6 of England return afford the • following: comparison:— < This week. last week. Bast year £ £ £ Bullion ... ... 37,05,000 37.091.000 Ci.720.000 Reserve 1 20.031.C03 -20,537.C0J yu.UW.CO3 Notecirculation '2 f.520.00 J 27,U0 t 00J '.;8,«64.00U Public Deposits 19,C22.U>.) IG,>7S.U)'J 11,2tf,0(X) Other Deposits b9.241;WJ 40,0}0.00j 40,252.100 Proportion ot' rcscrvo to 'liabilities ... 49.69 £1.53 50.73 GOVERNMENT SECURJTIi'S. The following are the latest quotation* for Government securities, with a comparison of those ruling last week:— Variations • ' compa>ed Prica. with , last week. & 5. d. 2i% Imperial Consols SO 17 0 10s. higher i „>»\S.\V.l933Jan.-July 305 10 0 Unchanged 3$ ~N.5.\y.1913.-iar.-Sop. SS 0 (• Dnchanu'ed 3 „N.S.W. 11-3j Apl.-Ocfc. 87 0 0 bOs. lower i tt Vic.lo2UJau.-July 103 10 0 Unch&oged „ Vic. 19ii-t> Jau.-July 07 10 0 "Unchanged 3 „ Vic,lo-i9-49Jau.-July to 0 0 Unchanged 3$ ~S,A. 1016 Jan.-July 07 10 0 ICs.hi.hor 3 „S.A. UltiJan.-July ' 62.0 0 Unchanged J „Q'i'dlols-24 Jan.-July 10J »0 0 Unchanged si „ QTuio£i-3L\Jau..Juiy 1-7 0 0 Unchanged 3 „QTdJwi:M7Jan.-Jitiy $510 0 Unchanged 4 „N.Z. IOJOMfty-Xov. 10n 0 0 10s. higher 1040 Jan.-July U7 10 0 20s. higher 3 „K.Z. ia-Jr.A-pril.Oct. &7 0 0 Unchanged 3$ „ W.A.10-iO-iO May-Nov' WlO 0 .Unchanged 3 „ W.A,1U15.i5-Uay-Nov t) 0 Unchanged a} „ Tas. JWOJau.-July i«7 10 0 Unchanged 3 „Tas. Jaiv-July 85 0 O , 2Js. lower __ - BANK RATES OF DISCOUNT, the Bank cf England rate was reduced on June 9 from 4 to 3 per cent.: on September 29 it was advanced to 4 per cent., and on October 20 to 5 per- cent. On December 1 it was lowered to 4J per ccnt., on January to 4 per cent, and on February 16 to Si per ccnt. The Bank of Franco rate was rcduced from 3£ to 3 per cent, on January U. 1908. and remains at the latter (icurc. The Imperial Bank of Germany un January 21,1919, lowered its rate from 5 to 4J per cent.; and ou February 10 to'4.rcr cent. But on September ,26 it was raised to 5 per cent., on February 6 it was reduced to 4i per cent., and oil February 15 to 4 per cent. . ■

•MARKET BATES OF DISCOUNT. Tbo following aro the market rales for best three months' bills:— London Paris. Berlin rate. rate. rate, pcrceut. percent, percent. This week 29-16 2& 3 Last week.. 3£ 2J 3 Last year.... 215-16 2| ..3 Short loans arc Quoted at 31 per cent., as against 3J per cent, last week, and 1$ per cent, last year. COIIONIAL AND OTHER PRODUCE. Sugar.—German beet. 88 per cent, net titre. 3d. higher at 9s. lid. per cwt.'; first taarlj granulated f.o.b. Hamburg, Id. Usher at-IIF. lOd. Butter.—Danish, 119s. to 121s. Choicest stilted and unsalted colonial 'are selling readily at late rates; secondaries r.re plentiful and neglected, and have a downward tendency. Many Australian brands are showing signs of heat when made. Cheese is firmer. Nov/ Zealand white, 57f.; coloured, 595. Bradford Tops.—The market is unchanged, but business is limited. THE METAL MARKETS. Copper.—On spot, 7s. fid. lower at .£54 12s. 6d. per.ton; three months. 2s. 6d. lower at £55 Is. 3d.; electrolytic, £57 ss. , .Tin,—On spot, £4 15s. lower at £189 sa. per ton, three months. £4 15s. lower at £184 sd. ; I'ig-iron.—Middlcsboro' No. 3, 6d. lower at 48s. 8d per ton. Lead, soft foreign, 2s. 6d. higher at £13 6s. 3d. pcrton. Spelter, 6s. 3d. lower, at £23 per ton. LONDON MARKETS. Messrs. Dalgcty and Company, Limited, have received ra.bled advice from their London office, dfitod Mareh 2, in regard to the following market*:—Frozen Meat: Market dull. Lamb: Since our last advice prices aro ?d. to Id, lower, and ?. further decline is likely. Mutton: Since our last advice price." are Jd. to id. lower, with the exception of Canterbury, which te firm, but prices are unchanged, owing to there being a scarcity of this quality. Beef: Market unchanged. Woo!: The third series of sales have been fixed to open in London on May 9. and the quantity is limited V) 16C.C0) bales. The remainder of the salesfor the year are unlimited. Rabbit Skiu«: The sales opened and closed firm, and anv change in prices is in favour of sellers. Tallow: Since our Inst cablegram pricos in general are 3d, to Gd, per cwt. lower,

BANK OF AUSTRALASIA. REPORT OF THE YEAR. By Telegraph—Press AsLociatlon-Copyrizlit. (Roc. March 3, 10.25 p.m.) ' „ , London, March 3. The Bank of Australasia has declared a dividend of 12 per cent, and a; bonus of 16s. per share. A sum of £50,tc0 has been added to the reserve, £20,000 to th(v premises account, and £15,725 carried forward. i half-yearly dividend of £2 Bs. and a tonus of 16=. per share, together, ccmal to 16 per cent, per annum, has been declared by the court of directors of the Hank of Australasia, and will be payable on March 31, 1911 The list of colonial shareholders will bo closed from March 17 to March 31 inclusive, for the purpose of above dmdeud aiid bonus. COLONIAL AND OTHER PRODUCE. By Telegraph—Press Association-Copyright .... t , London, March 2. Wheat.-A, cargo of Australian sold at 3-%s. 9a. Tallow.—ln stock, 4117 casks: imports, 3344deliveries, 2283. report states that 22501 bundles were offered, and there was good demand ,-.l full rate* Australians were occasionally slightly in =ellerV favour. iScw Zealands, in largo «unulv were slightly cheaper. 5 -mjuis. METAL MARKETS. By Telegraph—Press Assoi-uiitoii-Copyrlght „ .. London, March 2. «7?? per /~? up fe' 3 °i 911 tons i deliveries. 31,71/; stocks, 8,287; afloat. 6500 n, ~ on , tho S P°- three months'£185; stocks, 175,556 tons; on the snot «»s afloat. 4125; deliveries, 2462, ... £ead.—£l3 6s. 3d. Silver.—Bar silver is quoted at 24 7-16 d. per ounce staudard. • ■ ■ - - GRAIN AND PRODUCE] " . (By Holograph.—Press Association.). -u , Ohristchurch, >tarch ,J.■ Ihere has not been quite much wheat oQermg this; week; and holders of S camples are not selling vary free'v nenrl" B °\lJ 9 u H a ? d "P t0 3l ' 3d. for i P?ao. Merchants and millers not giving more than 3.1., and come cales amounting, to over 5000 bushels have' changcd hands at 2s. lid. r.t country at&tion'i: one firm a , purchases since'thc middle of the week amounting to 15,0DD bushels nurchased at ;2s. 11d.,:t0 3s. The S ruling in.; Australia are making expo • tew meat. 0f pay:as wheatJor shii)-. riihv S n f ro Pf n ? e r in conseqiicnco of thb' difflculty of obtaining supplies, and up to 2s. 2d. at country stations has been paid for prime samples. ; ??" i™ ol 3 ar<l busil ' ess ' n notatoes is now taking p.ace, contracts for deliverv beforo the end of the month being made at £2 10a. for up-to-dates. So far, tho crop has turned out very , well, both as to yields and freedom from'blight. >•• The arrival of a shipment- of -barlev -trim SALE .OF KERERU PROPERTY/" ' Messrs. .Murray Roberts, and. Co., Ltd - in conjunction with Messrs! C. B. Hoadloy. and Son, Ltd., report having sold, on count of the trustees of the late Sir. G. G. ?i the balance of the Kereru property, viz.:—6CCo acres free■hold, and 5000 acres lfensehold : (stock and plant at valuation), to Mr. n. M. Turnbull Linnburn and Wanaka Stations, Otago. ' WOOL SALES, ETC. Reports of Wellington Wool Sales and Live Stock Salos wijt bo found on page 13 lof this issue. • ...

MINING NEWS. WELLINGTON SIIAEE MARKET. A few sales of minim: sham were mado yesterday, and prices were fairly steady. The transactions recorded were as under:— May Queen, Is. lid. (third call). Saxon, 2s. M. (third call). Talisman, 455. (third call). Waihil 635., 635. 6d., 635. 9d. (sccond call). Waihi" Grand Junction, 255. (third call). ■ Waitangi, 2s. (first call). The buying and selling quotations were as under:— Buyers. Sellers. £ s. d. £ s. a. Con. Goldfields — 0 18 1 Kuramii Caledonian — 0 14 May Queen 0 1 11 — New Sylvia 0 2 8 0 210 Saxon 0 2 1 — Talisman 2 4 6 2 5 6 Victoria. ; 0 10 — Waihi 3 2 6 — U'iihi Grand Junction ... 1 5 0 15 6 Wuitangi 0 2 0 0 2 1 STOCK EXCHANGE: CBy Tt'.ccraoU.—Press Apsociation.) Auckland, March 3. Business done on 'Change-thiG niorninc:— . New Sylvia, 2s. IM. Wa-iotahi, 3s. Id: Saxon, 2s. 2d. WalcliTan, 2s. Bd. liromner's Freehold, 4d. Kananga, (con.), 3id. Golden Cross, Bsj. Talisman, .£2 <s. 6d.. £2 4s. 9d. . Waihi, £3 3s. 6d.. £3 Is . • Grand Junction. £1 ss, 6d., £1 6s. Jd. New Waitaia, Bd., BJd. Taranalii Petroleum, 13s. 6d. to 15s. Auckland Gas, £3 Bs. 96.. Auckland Trains (ord.), £1 4s. 6d. Wilson's Cement, £2 Is. The following business was done on the Stock Exchange at the 3.15 p.m. call to-day.— New Sylvia, 2s. 9d„ 2s.'Bd. Kanralti. Reefs, Is. Waihi, £3 3s. TTnihi Grand Junction, £1 ss. N.Z. and River Plate, £2. Wilson's-Cement (ord.), £2 os. 9d. Chrlstohurch, ilnrcli I. The sales reported on the Stock Exchange of Canterbury to-day were:— Tauniri. Coal, £1 2s. , - • Waihi, £3 4s. 6d.Grand Junction, £1 ss. 3d. and £1 ss. 6d. Dune din, March 3. Stock Exchange sales:— 1 Waihi, £3 3s. 3d. . Waihi-.Grand Junction, £1 55., £1 ss„ £1 55.. 3d., £1 ss. 3d. . Sales reported:— Waihi Grand Junction, £1 55., £1 4s. 10M., £1 is.. 4d. . : Talisman Consolidated, £2. <s, 6d., £2 <o. 6d. Rise and Shine, £1 10s. ■ National Bnnli, £6 Is. 6d. Donaghy'e Rope? £1 4s. 6d. . WAIHI.JUNCTION SHARES. By TclcKrapi>-P. - cSS Associn lion—Copyright London, March 2. Waihi Junction shares are quoted at £1 55.-(buyers), and £1 Ts. Od. (sellers). - ' MOUNT LYELL RETURNS: ' ByTelegrauh—Press Association-Copyright. Melbourne, March 3. The Mount Lye!! Company. from January 26 to February 22 treated 26,165 tons of Ore, .which, produced 663 tons of blister copper, 665 tons of copper, 45,263 ounces of silver, and 837 ounces of gold. DREDGING. (By Telegraph.—Press Association.) •Dunetlln, March 3. Dredging returns:—Manuherikia, 430z. Electric I, 41oz. Edwt.; Hartley and Riley, 4<c.7..; Electric 11, 270z. 17divt.; 909 Dredge, 2Goj.; Lady Roxburgh. 19os. 18dwt.; Masterton, 18oz; 7dwt.; Waikaia, ISoz. 16dwt.; Central. Charlton, 14oz. 6dwt.; Karaunui, 9oz. :10dwt. .