FARMING AND COMMERCIAL

Dominion, Volume 4, Issue 1174, 8 July 1911, Page 8

FARMING AND COMMERCIAL

E3EV/3 AND NOTES.

THE DAIRYING INDUSTRY. OUR INCREASE IN CHEESE EXTORTS QUALITY AND TRICES. : At a smoke concert at the Dominioi Dairy Show at Hawera, a speech on "Tli Dairying Industry of Now Zealand" wa delivered/by Mr. Samuel Turner, F.U.G.S. who was introduced as a very nntch-tro veiled man. - - ■ Mr. Turucr said he had travelled ii every country which had butter to sell and had compared the systems adopteelb; the various peoples. . lie found that Nc\ Zealand hod ■ a good many ■ advantage; Tho co-operative cheese factories in Nci Zealand were the biggest in tho world ami tho butter factories were among th biggest. A country usuallv produced tha which it has a natural gift to produce New Zealand and Canada were naturall; cheese producers, and they had no othe competitors fending to the British marko worth taking into account, while ther were many other countries sending butte to Britain.' One. advantage in sendin cheese to Great Britain was that it wa much more satisfactory to "market tha: butter was. While there could be tw opinions regarding -cheese, ='there- couh be half-a-dozen regarding butter, and fo one complaint of openness in New Zcnlan cheese there were many complaints abou the quality of butter. There was no sucl ,thing as fishiiicss in cheese, but fishincs was the great enemy farmers, even th Danes, had to fear in butter. Four year ago he had predicted that New Zealan would become a cheeso country. Sine then she had increased her cheese mak from GOOO tons to 25,000 tans, His pre dictions had been based on nothing bu the natural climatic, advantages wine: tho country posseted. These naturn advantages were backed up by its excer. tionally well, organised system of maim facturing and marketing. The One Brand Idea. An opinion had been expressed tha all makes of Xew Zealand butter am cheeso.-should be .exported under on bramh "Suck a change would, be a. stebackwards. Every make-of butler am every make of cheese had its character istie, and gained its own friends-m Urea Britain, who were anxious to got th samo'brand week by week. .-Vs regarded marketing there was more keen competition owing to the makes be in"- very big. One reason why eompeti tion was so keen for New Zealand buttei and cheeso was that the outputs were se uniform in quality. That uniformity iv quality was duo to the exceptionally gco; .«vst«iu of inspection and . grading - car vied out under tho supervision of tin Dairy Commissioner (Mr. D. Cuddle) That system made it possible for Ms contracts to be made with great confidence, and that tho quantity sent out of the country- would be equal to what wa; understood by first Government grade. Government Grade and Contracts. Some mouths ago the Minister for Ag riculturo had remarked that the Home and Foreign Produce Exchange, in-Lon-don' had done away with the clauso thai the first Government. grade on New ica ■land "Butter should be final on all c.l.f Contracts, and.-'the '.Minister had empha siseel- the importance to the dairying industry.of watching that they-did not gel the treatment which the meat industp had received for some years, when, lie said, Unscrupulous traders had put then own vahto on the meat after its arrival Mr. Turner said that he had been at the meeting of the Home and Foreign Pro ■ duces Exchange when the resolution wa; passed waking''Government first,„|vad( ' final;'."'''and, 'as ." J mariagel'-".Of '. : branch in Cardiff buying butter fron importers, lie had .spoken against thi ' proposal. His reason for sneaking so wa: that it made the wholesale man win bought c.i.f. off the importer take tc< much risk, and depend too much on tin grader in ,New Zealand. Owing to.tha being final,' it would stop the firms ii London selling fdrward, 'and by'roduein; forward sales would be playing into the hands cf those factory - directors -win didn't want their butter sold before ii arrived. Advertising. This year, had' seen more advertisinc of New Zealand butter than previou: years, but many of the ' systems wen wrong: : 'lf New Zealand wished to gair anything'bv advertising, they should gel ■ retailers to" show butter with labels or in their wiiulows, and call the public! . attention 'to the displays -through the leading newspapers. These- two things together with a weekly supervision of the system, and the New Zealand Govern. ment -prosecuting ally grocer who put: New Zealand labels on Australian 01 other butter (the same as the Danisl Consul does), were the'only way advor Using could bo done with benefit to tin industry in New Zealaiuk Further, it was no use advertising if too- mud moisture was allowed into the butter 'If a retail grocer got prosecuted foi selling New Zealand butter with more than the percentage of moisture allowed the effect would be more: harm to tin New Zealand trade, than years of aelver tisiug would elo gcod. 1 ' As to the prospects of the markets the increase in population in Grea Britain during ihe last ten years hae been -1,000,000. That number of. people 1 ' (who were naturally big butter ane .cheese caters) would. about consume al J 'New Zealand's exports, and.a's long a: ]■ Britain continued to progress and ,risi 1- on tho ladeler of commercial prosperity | there would 1)2 plenty of employment am a plenty of money, to pay fcivb'ntter am 3 cheese. .'lt was the good quality of Ncv i Zealand butter and cheese which 'hae fl created the big demand for it, and it wa 3 by still improving the quality tha,t bette 9 prices could be obtained, because tin 8 British public woulel cat more of it a: y tho quality improved. ... NEW AND DEADLY CATTLE DISEASE. VICTIMS IN ENGLAND. When tho last mail left England wha is thought to be a now and eleadly calt! disease was causing, some, uneasiness The ""Farmer and Stockbreeder" says:— "Veterinary science has for the momen I been quite baffled by an extraordinar; discovery of. dead cattlo on the cxtensiv estate of Sir Richard Sutton, Bart'., Bleu hcim Park. Newbury, Berks. • "First, two valuable heifers, part of : herd "of' twenty, were foiind.dead ..in meadow under mysterious circumstances Anthrax was suspected as the cause o the fatality, and Sir Richard's ve'lcvinav; surgeon—Mr. Wilson, of Newbury—wa speedily summoned, and the comity poiic notifieel of the occurrence. _ "Shortly afterwards five nioro heifer were found dead under similar conditions the whole seven having died within thro, days.--"On making an examination, Mr. Wil sou was quite perplexed as to (he causi of the fatality; and while at first he sns peeted anthrax, subsequently he was satis tied that that was not tho case. On hi suggestion parts of the carcasses wer forwarded to the county veterinary snr Igeou, Mr. G. P. Male, of Reading, fo: microscopical examination, and to T.on don. The reports were identical. The; established the fact that anthrax was no present, but (hat Hie mortality was dm to a new bacillus similar to anthrax, bu as vet unscheduled. "The alarming epidemic has given rise to much uneasiness in Berks and neigli bouring counties, and agriculturists am I stockbreeders are awaiting with consider able interest further information on tin subject. ",,,,', , , "It is noteworthy that the herd ha been turned into this meadow lor tin first time, and the suggestion has bee: | nvido that cattlo had previously dice

I A TARANAKI PROBLEM. TRAMWAY TO!! PKODUCii SUGGESTED. In some parts of Tarnnnki the cost c maintaining the principul roads is heavy There is a (treat deal of'traffic, by v< hicles conveying butter from dairy fiu lories to Hie railway, and to relieve th roads of some of this traffic variou schemes have been proposed. ■At a banquet held during the 'White Show at Hawera,- at which the Ministe tor Agricultui'o was present, the Mnvo of Hawera (Mr. Barton) said that if th Government, would allow thsm to cstal lish a tramway between . Hawera am Kaupokonui' it. would be a very goo< thing for the district. It would assis tho dairy companies in getting their pro duco to tho railway, and be uf relief ii the matter of the expense on roads There was a Tramways Act, but it n«: not sufficient. Taere was no provisioi for a common board being establishei for a line which would run through mon than oiio district. He hoped tho Govern ment would see its way to amend thf Act, and so enable the .work desired being carried out, or "stand off the grass' and let someone else carry it out. The Minister said that the matter wa* ono outside his .Department—Mr. Barton had approached' the wrong Mackenzie— but he would convey the wish to the proper quarter. CHEESE CONTROL. THE SYSTEM IN HOLLAND. A British Dairyfarmers' Conference was held in Holland in May. A writer who .accompanied the party says: "The system of butter control is well understood in England, but not so the cheese control, which has bsen rendered necessary to cope with the increasing use of separated milk for cheese-making in Holland, and the artificial methods adopted for introducing moisturo into the ehecs-e whilst it is very young. As this dries out with ago, the cheese becomes very hard ,and unsaleable, and remains a loss to the merchant who handles it unless ho can sell it when moist. Now separated milk cheese may show 2 per cent, and whole milk cheese ■55 per. cent, of fat in'the dry matter. In 1300 samples of full cream cheese during three successive years, it has been shown that the average percentage of fat in tho dry matter of (ho cheese is over 4S per cent., that about half of the total number contained from (7 to 50. per cent., and that one-fourth of the. analysed samples gave more than 50 per cent, of fat in the dry matter. So a control has been started" for wholo milk cheese containing not less than 45 per cent, of fat in the dry matter. Special marks and stamps have been-designed, not merely to mark on tho surface,' but to penetrate the rind of the cheese. Only two stations are in working control as at Tho Hague, the other at Hoorn." 1 COMMERCIAL ITEMS. . INVESTMENT SHAKES. There wore no transactions in investment shares .yesterday. The buying and selling quotations were as under:— " - Buyers. . Sellers £ s d. £ s.d National Mortgage. ...... 310 0 — Christehurch Gas 9 15 0 — S.B. Insurance -.. 314 0 — Meat Export (£2d. fd.) ..:.. — 3 5 6 N.Z. Shipping - 11 15 0 Well. Woollen (ord.) - 4 16 Taupiri Coal 1 1- '6 - Wcstport Coal 19 0 — Kauri Timber (155.) 0 16 3 0 16 9 Lcyland-O'Brien ........ 1 V- 3 — N.tf. Drug ..,..;■ :..:.;..... 2 9'3 - N.Z. Paper Mills 110 116 Sharland's Preference ... 1 3 0 — Taranalri Petroleum — 017 3 Taringamutu Totara, ... 2 6 0 2 8 6 Ward and Co. ..:. — 5 3 0 LONDON MONEY MARKET. • The depression in tho London Stock Exchange, with the fall in Consols to £78 lils. 6d., are matters that require attention. It is difficult for us, at this distance from the world's ■ financial centre, to know all that is passing, or to be able to assign satisfactory reasons for the adverse movement reported, but the suddenness of the movement suggests .that there is more to come. Tho trouble appears to have commenced in New York, for, on July 3, a cable message stated that the whole of the stock market was weak, many issues showing a, decline. On the next day. Imperial Consols dropped to £79 lCs., and now we have the further advice that this giltedged security is down to £78 12s. 6d. There is a faint similarity between the conditions ruling now,,and those existing in 1907; when the great American financial crisis convulsed tho world. It was in July of that year that wo had the first indications of trouble and hy August it had developed into a. serious matter. But Consols arc reported to' be depressed on Continental selling, and the sellers would ho mainly French, as they are the only people who invest to any great extent in that gilt-edged security. The selling may be due to the Morocco crisis, or it may bo (as suggested in the cablegram) that the approach of the critical moment in the conflict on the House of Lords question is causing holders of Consuls to feel uneasy. In tho loug run, it will bo found that the seat of the trouble is in the United State?. Tho Arucrf. cans have been borrowing very heavily in Europe recently, and, presently, they will call in those amounts, and take gold from London to "New York. The Americans have not recovered from tho panic of 1907, because liquidation was not carried out fully. The movements of the money markets during the next few weeks should bo very interesting. AWAKENING OF BURMAII. Burmah is awakening to her possibilities; and her commerce is increasing at a rapid rate. A vast field for enterprise (writes "Capital") has been opened to the merchants and manufacturers of the world, whilst tho numerous consular and other reports issued by the various Governments having representatives in this country literally teem with fruitful hints and authoritative information of the utmost value to those seeking new outlets for trade. For' instance, new industries are being started with surprising rapidity, oil, cotton, rubber, gold, wolfram, and other companies all pointing to the progressive spirit with which the pruning knife is being .applied to. obsolete methods. It needs no special perspicacity, therefore, to realise that in Ilurmali, especially Rangoon, increasing efforts should be made by merchants and manufacturers to secure a footing from which it will be difficult to dislodge them when the boom comes along. While the Burmah market will be big enough when properly exploited to satisfy the trading propensities of every industrial country in the world, importers of European goods cannot avoid watching tho enormous inroads which are being made by the Americans and Japanese into this field of enterprise. SQUEEZING SMALL TRADERS. The extent to which the small retail trades is being sup-planted in tho United Stales by the multiple store is the'subject of comment in recent communications from America. In every section of industry, it is stated,, the little men are being driven out with a. visit to monopoly by some mammoth 'concern. The tobacco trust, foi example. began\ljy opening a hundred shop? at every good stand where it could gel possession of a long lease, and tho United Cigar Stores Co. installed itself to sell the products of the trust. Independent vendors were ruined by ruthless competition and now it is said ono can walk miles ii: New York without coming upon any to bacconisl other than a nominee of the trust. The same story is told about gro ceries and general-stores. One organisation which five years ago worked thret shops has now more than ICO, and overs week opens further depots. Even chemist! arc being swept into a monopoly, just like ready-made clothing shops and restaurant.'; In the list of recent amalgamations is th< American Implement Co., which has z capital of £10,000,000, and owns 20 Tac torics wli'jre agricultural machinery ii made. A certain amount of concentratioi of forces is doubtless desirable to terminate ruinous competition, but when such a community of interests is established a leads to the disappearance of every in dividual unit, oppression of the consume! inevitably follows.

TJIK ARGENTINE'S MEAT. Tim Commerce ami Tourist.-: Division ol tile Department of Agriculture, Commerce and Tourists has receive:! the fallowing cablegram from lluep.ns Ay res, date;! July 6:—The following shipments of produce were dispatched from the Argentine to the United Kingdom ports during June, 1911 (compared with June, 1910!:— 1911. 1910. Frozen beef Il9,CCoqis. 32M'8<;qrs. Chilled hecf 199.CC0nr.s- 176,595qr5. Frozen mutton... 223.00Cre5. 184.952t.-i-s. Frozen lamb ... 92,CC0rcs. 51.13?cc5. liutter Nil- >>>!■ Customs duties collected at the port of Wellington yesterday amounted to £2072 6s. lid. BANK' OF ENGLAND RETURN. By Telegraph— Prcs's Association-Copyright . (Uec. July 7, 8.30 p.m.) London, .Inly C. The Bank of England, return issued for week 'eliding Wednesday, July 5, is as under :•— laser. Department KctJlasno... ft7,178,0W Gov.dobt ... £11,015,030 Other secmiÜbi ... 7.434.1 W. Goll ... 33.7ffl.nT' 'f37,175,00J JE57.178.LU ' Baskixg DEPARTMENT. Proprietors' Govt, sccuricapital £14,553,000 ties... ... £11,039,003 Public da- Other sccuriposits ... 10,761,003 ties 37,618,000 Other deposits . ... 52,5DC,000 Notes ... 27,187,0X1 Rest, 7-day md other bills 3.422,000 Coin ... „ 1,2-23X00 I f31.323.0M £31,320.000 The leading items of the Bank of England return afford the following comparison:— This week Last wool:. Last year £ £ £ Bullion 3d.720.0CQ 39.311.000 40.237,000 IJescrve '->3.71--'.o>a 23,156X0) 31,032X0:1 Kote circulation 31.K11.U0.) -20.131.0C0 28,952,™ Public Deposits I0.701.CO.) L-..507.C0J 21,515,000 Other Deposits' S-2.WO.UU 47,-235,'J0J 45,153,020 Proportion of reservo to liabilities ... •- 45.30 43.71 41.-1 D GOVERNMENT SECURITIES. The following are the latest quotation) for Government tecurities, with a comparison of those ruling last week:— Variations _ cumpaicd Frico. with last week. £ s. i. 2J% Imperial Consols , 7S 15 0 15s. lower 4 ~X.H.W.lo33Jaii.-.liily 101 0 0 Unchanged 31 „N.S.W.lol!>.dar.-Sop. CO 10 0 Unchanged 3 ~N.S.\V.JO3SApI.-Oet. S7 10 0 Uuchmgod 4 „ Vic. 182UJan. July 10110 0 Unchanged 34 , Vic. 1021-u Jan. July u7 10 0 Unchanged 5 „ Vic. IHO-lOJan. July 64 10 0 Unchanged 3* „S,A. lOlßJau.July 03 0 i: Unchangci 3 „S.A. MltiJan.July bl 10 0 Unchanged 4 „C!Tdl'Jis-'2l,lau.July 102 0 0 Unchanged 5-5 „UTdl!Wl-3l!Jaii.July '-'3 0 0 Unchanged 3 „t>Tdlii-22-47Jan.July 35 u 0 Unchanged i „N.Z. 1020 May-Xov. 101 0 0 Unchanged »i „N.Z. 13-J0 Jan.July '->i 10 0 Unchanged 3 ~N.Z. lOi.'.Apnl-Oct. 66 10 0 Unchanged 34 „ W.A.IOaWOJIay-Xov W 1 5 Unchanged 3 tG 10 0 Unchanged ii „ Tan". ICiOJtn. July I l>6 10 0 10s. higher 3 „1'a,3,1i),U-i0 Jan.Jnlyl 8i 10 0' Unchanged BANK RATES OF DISCOUNT. The Bank of England rate was reduced on June 9 from 4 to 3 per cent.; on Sep- , tember 29 it was advanced to 4 per cent., and on October 20 to 5 per cent. On Dc- | comber 1 it was lowered to 45 per cent., on January 27 to 4 per cent., and on February 16 to 3j per cent., and on March 9 to 3 per cent. < The Uanlt of Franco rate was . reduced from 3J to 3 per cent. or. January 23, 19C3, and remains at the latter figure. The Imperial Bank of Germany on January 21'. .1909, lowered its rate from 6 to 4i per cent., and on February 10 to 4 per cent. But' on September 26 it was raised to 5 per cent., on February 6 it was reduced to 4J per cent., and on February 19 to 4 per cent. JIAEKET HATES OF DISCOUNT. The following are the market rates for best throe months' bills:— London Paris Berlin rate. rate. rate. percent, percent, percent. This week 21-16 2J 28 Last week 2 5-16 2J li Last year 2J 2 i 2| Short loans arc Quoted at 13 per cent., as against "5 per cent, last week, and 15 per cent, last year. COLONIAL AND OTHER PRODUCE. Wheat.—The markets are. firm, owing to a continuance of unfavourable crop reports from Russia, and America. Cargoes are firmly held. Two Australian cargoes sold at 345. 3d.; Australian March-April shipments arc offered at 345. Australian on spot is quiet, at 365. ' Flour is quiet. Australian nearly due is celling at 235. 9d. c.i.f.; July-August shipments are offering at. 225. 9d. to 235. Oats are steady. La Plata, July-August shipment, 15s. 4jd. Butter—There is a. steady demand, with a Arm tone, owing to the general hot weather in Europe. Danish, 115s. to 1165.-, Australian, 102s. to 1045.; ununited, lC6s. to 108s.; Eccondaries, 945. to 98s. Cheese is very firm. Old Canadian, 60s. to 635.; New Zealand, 60s. to 615.; Queensland, 565. to ,58s. 9d. Sugar—German beet, 88 per cent: net titre, 9(1. higher, lis. 3d. per cwt.; first marks granulated f.o.b. Hamburg, 9d. higher, at 13.-i. 7d. Eradford Tops.—The market is firm, and unchanged. Antwerp wool sales have closed with a weak tendency, merinos -five to ten centimes, crossbred?, 15 to 25 centimes below Hay rates. 4720 bales of La Plata wool were offered, and 1752 bales were sold. METAL MARKETS. Coppor.-Ou spot, 3s. 9d. lower, at £56 12s. 6d. per ton; three months, 3s. 9d. lower, at .657 3s. 9d.; electrolytic. £53 12s. 6d. Tin—On spot, £194 10s. per ton; three months', 3Cs. lower, at £188 15s. Pig-iron.—Middlesboro No. 3, 4d. lower, at 465. per ton: Spelter unchanged, at £24 12s. 6d. per ton. ' LONDON MARKETS. Messrs. Dalgety and Co., Ltd., have received the following cabled advices from their London house under date July 6:— Tallow: Par to 3d. per cwt. lower. Frozen Meat: The. market for frozen meat and lamb is very dull, aud any change in prices is in favour of buyers. The demand for beef is limited, and prices are higher by id. • GEAIN AND PEODUCE. (By Telegraph.—Press Association.! Christchurch, July 7. | There is rather more inquiry for wheat, a bettor tone being manifested in the London market, though this really has , little bearing on the local market, as there is no export business doing. The turnover is, however, mainly bctweeu merchants, as ! only odd lots are being offered by growors, and they are still holding out for their I own prices. The outside price for mixed lines is about 3s. 3d. at country stations, '■ and velvet will command about one penny ; more. [ What littic business is doing in oats is . entirely for local consumption, and there , is no change in values to note. ', In chaff, business is practically of the \ same nature, there being only a small amount passing, and the price is still nominally 85s. at stations. Potatoes arc dull of sale, as merchants arc finding it difficult to do shipping business against the lower quotations ruling 1 in tSe south, and prices are consequently i easier, 565. to 575. Gd. at country stations t 'now being offered. Inquiries arc now sotl ting in for seed potatoes, "Beauty of Hebt ron" and "Early Eosc" being worth £5 l 10s. to £6, and other varieties £3 to £7 per a ton. r Butter: Both factory and dairy lias ads vaiiced another nenny per lb., the wholet pale nuotations being: Factory, Is. 4d. to 1 If. 5d.: farmers' separator. Is. 4d. to Is. o 5d.; and daily, Is. Id. per lb. MINING NEWS. :l e" WELLINGTON SHARE MARKET. '] The mining share market was quiet hut ' steady. Consolidated Goldfields were easier, ~ but other shares were practically un- . changed. The sales recorded were as ; under:— a Consolidated Coldficlds, 19s. 6d. (second •■ call). , New Sylvia. 3s. ICd.. 3s. !ojd. (third rail). .' Talisman. 495. 3d. (third call).

The buying and scUi!]K quotations were as iiiiilvr:— Buyers. Sellers. £ e. d. £s.d. E'.aekn-ater 180 1 9 C Oiriiienlnl 0 U J ..— Con. (ialdfields 019 0 10 0 Kuranui Caledonian 0 10 0 13 May Queen 0 2 6 0 2 0 New Dip; I'.iver 310 0 4 0 0 New Sylvia 0 3 9 0 311 Saxon 0 2 3' 0 2 5 Tairua. Mines 0 2 1 0 2 3 Talisman ;.. 2 9 3 — iVnihi .: 3 6 9 . 3.7 0 Wnilii Grand Junction ... 1 7. 0 17 6 Waitanci .....: 0 2 9 - ' WnihH'aerea 0 12 0 '— Boss - 0 2 3 STOCK EXCHANGE. (Ey Telegraph.—Press Association.) Auckland, July 7. Business done to-day:— Kuranui Caledonian, Is. Id. May Queen. 2s. Bd. Waiotahi, ss. M. Saxon, 2s. 4d. I Watchman, 2s. 2d. Brcmuer's Freehold, 3d. Tairua Mines, 2s. Id. ' Waihi. £3 7s. Grand Junction, £1 7s. 3d., jCl'7s,.'6d. IVaitaia, Cd. Auckland Trams (ordinary), £1 ss. 3d. i The following business was done, at the 3.15 p.m. call:— May Queen, 2s. 8d„ 2s. 7d. Now Svlvia. 3s. lCd. Sason, 2s. Ai. ■ Waiotahi, 3s. 2d., 3s. Id, Watchman, 2s. Id. Waihi, £3 7s. Tairua Jlincs, 2s. 3d. - Clirlstchurcli, July 7. Sales reported on tho Stock Exchange of Canterbury were:— National Bank of New Zealand. £6 Is. 9d. Cauterbury Frozen Meat Co., £8 12s. 6d., £8 12s. 6d. New Zealand Farmers Co-operative, £2 12s. Waitangi Consolidated. £2 10s. Duncdln, July 7. Puncdin Stock Exchange -sales:— New Sylria, 3s. 10d., 3s. lid. Talisman Consolidated, £2 9s. 9d. ' Waihi, £3 7s. Cd.. Kales vonorted:— New Sylvin, os. lCd. Talisman Cousalidated,- £2 9s. 3d. Watchman, 2s. 2'jd. Union Steam, £2 Is. 9d. TALISMAN CONSOLIDATED. .-'. IBy Telcffi'aph.—Press Associatioc.l Auckland, July 7. The Talisman Consolidated Goldmining Co.. duriuß tho month of June, crushed and treated 4580 tons of oro for a return of bullion valued at. £19,013 17s. 2d„ as romparat with Die return for the corresponding period of last year when 4C90 tons ■ yielded £18,372 Jr.. sd. Tho.past month's t'hushing represents an increase of £647 lis. 9d.; costs for tho past month totalled 345. 6d. per ton. made up as follow:— Mine development. Bs. 3d:: mining," 125.; millinc, 12s. 5d.: general' expenses, 13:;. lOd. The total value of bullion won from tho mine to date is £1,525,622 3s. Id. 1 DREDGING. (By Telegraph—Press Association.) Duncdin, July 7. i Dredging returns: Good Chance. 6Coz. 6dwt,; Electric, No. 1, 41oz; 14dwt.; Electric No. 2. 3Soz. 19dwt; Jianuherikia. 290z.; ■ Karaunui, 260z. ldwt.; Central Charlton, 1 20oz. 7dwt.; Masterton, 15on. 3dwt.; V.'ai--1 kaia, Uoa. 17dwt,; Mystery Flat, 9oz. lldwt. I LIVE STOCK SALES. . Reports of Live Stock Sales will bo found on Pago 3 of this issue.