GENERAL FARMING NEWS.

Dominion, Volume 4, Issue 1081, 21 March 1911, Page 8

GENERAL FARMING NEWS.

The Jloa (Inglewood) Dairy Company, at its monthly mooting, passed accounts amounting to .CIOO7 for payment, of which ,£3753 was for butter-fat, »» against .£3381- for the corresponding period ' last year. " The secretary of the Taranaki Exccntivo of the Farmers Union has been instructed to write to the Agricultural Associations of Taranaki asking Ibem what has been done towards the preparation of a dairy herd stud book. After an address at Ha\vero by Mr. Thomas Sedgwick, the meeting addressed' decided to "urge, upon tho Government tho advisability of_ giving.llm junior immigration scheme its support." Lincoln Road suppliers are asking the Jloa (Inglowood) Dairy Company to erect a creamery at Lincoln Tioad. So far 3.15 cows had been promised, of which 21!) would be those of new suppliers to the company. The directors resolved to support. tho erection of a creamery if 230 new cows could be guaranteed, and also resolved that if this supply wa.s guaranteed, and the necessary deposit lodged, an extraordinary general mooting of the shareholders would bo called to consider tho question of erecting the new creamerx.

COMMERCIAL ITEMS. INVESTMENT SHARKS. A' sale of New Zealand Insurance shares at £1 '1?. was the only transaction in investraent shares recorded yesterday. The buying and selling quotations were as under:— Buvera. Kcilera £ s. d. £ s. d. National Banks 5 19 fi 6 2 0 Metropolitan 1" (l 0 — National Hortpago 3 4 0 — Well. Investment — 0 11 G Feilding Gag 11 9 — Falmerston North Gas — 9 0 0 Well. Gas (.€10) 18 15 0 N.Z. Insurance .'. 'lid- — Gear Meat (205.) ■ 3 5 0 — Meat Export (.£5) 6 7 6 — Itcat Export (525. 6d.) ... 3 1 0 — Union Steam 1 IV 9 — Well. Woollen (pref.) ... Z 17 6 - Taupiri Coal .113 Westport "Coal 19 0 1 10 0 Leyland-O'ltrien 1 6 3 17 0 Manning and Co 4 11 0 Jliramar, Ltd — 0 2 6 N.Z. Drug: — 2 9 6 N.Z. Portland Cement ... lit J — Sharlaud's ordinary — 14 6 Tariiigamutu Totara 2 8 0 2 9 0 Ward aud Co 4 19 0 5 0 0 Whitconibe and Tombs ... 6 6 0, — . THE PRODUCE . MARKETS. The High Commissioner's cable vncscage shows that the wool market continues firm, and competition is well sustained at the sales. The Press Association telegram slates that, up till Saturday last, 47,624 bales were catalogued, and 6265 bales sold. There must bo an error as to the quantity sold, and it is most likely that 46,265 bales is. meant. The prices have been enough to induce the brokers to sell—at all events there is not much to be gained by withdrawing wool and holding until the Septembcr sales, when prices may show an improvement. Hemp appears to have improved slightly, the spot quotation being £20. 10s. per' ton, as compared with £20 in the previous Week. A year ago the spot quotation waa £25.' The Manila output continues to be he&vy, and it is to be feared that the output can be readily increased should circumstances warrant. Tho Manila, output for the past. four , weeks (as compared with that, for tho corresponding dates of last year) shows as under:— . 1911.: . . 1910. Bales. Bales. February 25 23,000 32.CC0 March 4 - 20,000 • 19,000 March 11 32.CC0 19,CC0 - March 18 ■ • 2c,C00 26,C00 IOI.CCO , 96,C00 There is a big increase as compared with last year, and it is tho competition of Manila, that is affecting the New Zealand product. The butter market continues quiet. The quotations of choicest description (as compared with a- year ago) arc as under:— 191ll" 1910. Per cwt. Per cwt. New Zealand 106s. 1245. Australian 102s. 121s. Danish 120s. 13Cs. Siberian 104s. 1225. A year ago the market was affected by shortage'of supplies, but just now there appears to bo plenty available, and prices are accordingly very low. Cheese is m fl':mg 6'-s. per cwt., while a, year ago white was making 625. and coloured 60s. Frozen Meat.—Mutton and lamb aro quiet. North Island mutton is realising 33d., as against 41d. twelve months ago, and lainb (other tha,n Canterbury) is selling at 43d., as compared'with sgd. a, year ago. According to advicc3, lamb is said to be in very great supply, and sales must be forced to clear stocks. Frozen beef is firm, although prices are below the parity of those current a year ago. Ox fores average 3Jd. against 3|d., and ox liind3 33d. against 4Jd. UNCLAIMED BANK BALANCES. ; The question of unclaimed bank balanes ■is. one that crops up periodically. Recently, a return submitted to tho Imperial Parliament gives some interesting information Tho return shows (1) the,colonies and British Dominions in which periodical returns are required by law* of unclaimed balances and. securities in the hands of bankers, and (2) the total amount of such unclaimed balances and securities disclosed.up to January 31, 1910, in each of such colonies or Dominions respectively:— In the Bahamas, the Banks Act, 19C9. Section 28, roads a3 follows:—"A bank shall from time to time, if required by the Governor, furnish to the Governor a special return and such further information as such Governor may reasonably sec fit to call for; provided always that the bank shall.-not nor shall-anything • herein contained be construed, ta authorise a bank to make known the private account or accounts of any person whatever having dealings with-the bank." No such returns, hive heen called for. Prior to t,hc enactment of the Bankers Ordinance, 1910, of the East Africa, Protectorate, a statement of unclaimed balances and securities in the hands of bankers had not been required by law. The first statement under the ordinance will be published in January or February. 1911. and thereafter statements will be published annually. In the Nyassaland Protectorate,'the Bank-, ing Ordinance, 1902, Section 48, requires an annua! statement to bo published in the Government Gazette in January of each year by every. bank .in the protectorate of ali moneys of amounts exceeding £10 'that have remained unclaimed for a peridd of: two years or. more, P.eturnr, of unclaimed securities are not specially provided for. The total amount unclaimed on January 31, 1910, was £510 10s. 9d. In.Swaziland, returns of unclaimed balances,and securities in.the hands of bankers: are required, by law. Tho amount disclosed up "to January 31, 1910, was 1 nil. No such provision exists in the law of any • Crowu colony or British protectorato except those referred to above. AMERICAN FIRE LOSSES. The fire losses in the United States and Canada during 1910 were rather more than tile total for 1909—£45,894,130, as compared with. £40,729,830. The principal feature of the year from the insurance companies' point of view wa-s the very destructive forest fires in various parts of tho United States, and although the greater portion of the standing, timber destroyed was probably not insured;' yet many British companies, and also Lloyds are reported to have been heavily involved. During the last few years rates have shown a tend, ency to* decline in the United States owing in part to more approved methods of fireresisting construction and the provision of automatic Are-extinguishing appliances, both of which have been adopted increasingly since tho conflagration at San Francisco ill 1906. On the whole, the results of the year's trading arc likely to prove satisfactory to the insurance companies. Among British companies represented, the Commercial Union, tho Liverpool and London and Globe, tho North British and Mercantile, and the Royal transact tho largest amount of fire business. Several important companies, including tho Alliance and the Guardian, do no business inthe United States and very little in Canada. Customs duties collected at tho port of Wellington yesterday amounted to £547 os. 3d. LONDON WOOL SALES. By.Telegraph—Press Association—Copyrlsht London, March 19. To date 47,624 hales of wool have been catalogued for the sales, and 6265 (46,265 ?) bales sold. WHEAT AND FLOUR. ' By Telegraph—Press Araociation-Oopyricht London, March 19. The wheat and Hour afloat for tho United Kingdom totals 3.950,000 quartersfor the Continent, 2,650,000 quarters; -\tlantic shipments, 11,030. The total shipments to Europe during the week .amounted to 1.295,000 quarters, ' including 313,CC0 from Argentina, 425,000 Russian. 70.000 Dmubian, 129.0110 from India, and 170,CC0 from Australasia. METAL GOODS. By Telegraph—Press Association—Copyrisrht London, March 19. Galvanised iron—Best, £13 7s. 6d.; second brands. £13 2s. 6d. Angle steel, £5 12s. 6d. Tram-rails. £4 19s. Wire-netting, 60 per centum, and 24 per ccntum off the lir-t. KAURI GUM. (By Telegraph.—Press Association.) Dargav'ille, March 20. Tho depression in the kauri gum market which prevailed throughout the voir shows no sign of passing aw.iv, ami' rljr-. gcrs, especially Croatian*, are leaving the field in large numbers in .search of m o rc remunerative aveniies of employment. It would seem that one reason for the slump is over production, and another is substitutes for kauri in Ihe shape of other gums being placed on the market. FROZEN MEAT, tly Telecraph-Press Ass-iuintion-Copyrletav London, March 19. The Frozen Meat Trade Association's Nuiithfield market quotations for the undermentioned classes of frozen meat aro based on actual sales i,f not less than one hundred carcasses of mutton or lamb, or twenty-five quarters of bcel of fair average quality. The quotations arc not for selected lines', but for parcels fairly representative of the bulk of the shipments now on the market. Tho • t>rice3 which follow are on an averaee a farthing per lb, more than the value ex ship,

tills difference representing an average cost in expenses, handling, conveyance, and selling tho meat:— Mar. U. Mar. 18. d. d. Mutton Canterbury, light. — — Canterbury, medium — — Canterbury, heavy — — fioiitliiand — — *orth Island, best 3J 33 North Island, ordinary... 3J 3i Australian, light 7,1 ?. lS.lfi . Australian, heavy 2? 211-16 Jlivcr Plate, light 3i JJ .River Tlate, heavy 2',' 23 Lamb:— Canterbury, light 53 5SCanterbury, medium 5J 51 Canterbury, heavy 5\ 5J North Island, selected ... 4J 4J North Island, ordinary... 43 Australian, best, 4 4 Australian, fair 3? 3? Australian, inferior Si Si Kiver Date 35 33 Beef New. Zealand, ox fores ... 3 J Now Zealand, ox hinds ... 3? 35 Australian, ax fores 25 23 Australian, ox hinds 3J 33 River Plate, ox fores ... 3 215-16 River Plate, ox hinds ... 33 35 . Rabbits.—The market for rabbits is ouiet. Prices are unchanged. The. new season's Australian are excellent, bot\ as regards quality, condition, and grading. HIGH COMMISSIONER'S CABLE. Tho Commerce and Tourists Division of the Department of Agriculture, Commerce, -and Tourists has received the following icablegram from tho High' Commissioner for New Zcitland, dated' London, March 18. (Note—Quotations, unless otherwise specified, are average market prices on spot):— Mutton.—The market ia quiet, with a tendency iu favour of buyers. ' Canterbury 33d. per lb,, North Island J|d„ Australian 23d., River Plate 2Jd. per lb. Lamb.—The market is dull; there is a dull salo for all lamb. Canterbury 5Jd., other than Canterbury <Jd. per lb., Australian 33d. per lb., River Plate 3Jd. per lb. Beef.—The market is. firm, with more inquiry.. Stocks of New Zealand beef on hand are light. New Zealand, hinds ■ 3jd. per lb.. New Zealand fores 3J,d. per lb. Butter.—The market is quiet but firm for best quality. Choicest New "Zealand butter 1063." per cwt.. Australian 1025., Danish 12Cs.; Siberian lC4s. per cwt. Cheese.—The market is firm, and there i-s a general and active' demand. White 605., coloured at same price. Hemp.—The market is firmer. New Zealand good fair, per ton, on spot, £20 10s.: fair prade, £20: fair; current. Manila, £19 10s. These quotations are fir all positions. The output from Manila for the i\v(Hc was' 26,000 bales. Wool.—Tho market remains firm, and competition is well sustained. Ka,uri Gum—The market :•-• quiet, but holders are fitm- for -best qualities. Ordinary to fair tliree-nuart-or scraped. £8 10s.: fair half-scraped, £5 2s. 6d.: brown fair half to. three-quarter scraped. 655.: brown pickings. common to good, <os.: bush fair to pood p!»Ie and amber scraped, £8 2s. fid. Stock. .300 tons. Pork.—The market is weaker, though not actually lower; 5?, d.' per lb. CHANGE IN LONDON REPORTS. By Telegraph—Press Association—Oopyrieht New Plymouth, March 20. ' At the instance of the "Daily News" . Proprietary, who made representations on behalf of the Taranaki farmers, the Hieli Commissioner' 3 report is to include the quoted' prices of pork oil the London market. NEW ZEALAND DRUG COMPANY. . (By Telegraph.—Press Association.) Diinedin, March 20. The thirty-second annual meeting of Kcmpthorne. Prosser and Co.'s New Zealand Drug Company was held to-dav. The annual report stated that the net proflt for the year was £13,221 3s. 10d., which, with the balance from the last year, made £24,812 12s. Bd. - The interim dividend paid for the' half-year ended July absorbed £7000, leaving .£1.7.812 12s. Bd. to bo. dealt rc:-th. The directors recommended a dividend of 7 per ,cent, for the half-year (£7CCO), wTiting £15 n 0 off various plants, an addition of £2184 13s. sd. to tho general reserve; bringin? it un to £33/00. and carrying forward £7127 3d. The report was unanimously adopted. Messrs. Brown and Ba t.hgato were re-elected directors, and the retiring auditors in the four ccntres were reappointed.