FARMING AND COMMERCIAL.

Dominion, Volume 5, Issue 1424, 26 April 1912, Page 8

FARMING AND COMMERCIAL.

FRUIT INDUSTRY. : NEW ORCHAKD COMPANT FORMED. A private eompanv, the Kinaki Orchard Company, Ltd., with a capital-rf .£IOOO in shares of ,El, and headquarters ut Dunedin, has been formed to curry on business as fruitgrowers, canners, prc- ' ■ sarvti-j, merchants, and:V;eSporters. Tho registration of tho company, isiiiot.ified in this week's ".Mercantile llnzette."' .SHORT SUPPLIES'OF/STOCK. POSITION IN OTAGO., :''' So far this season .the quantity of .fat stock pfl'eringATju.Otago has riot, according to. the "Witness/', been' sufficient to keep the BurnsidbV■freezing,-works going more thaii half-tiri):e' j '.. v niHl.;;the' prospects, ,^for 1 future, supplies-»nro : -hob-considered vei'.v fayourable.'^.C.ftnip'aVed'w'ith the of., last• yeai, qb'tho'same date, the returns. ! show tho sfidrth'fje to .be"as.!f6llo\vs;—,. t, ."■'„;.'.*».'.; • Slaughtered. Frozen.""' ■ '■'•' ."'•'". 'Carcasses. Carcasses. 1 . : Up to April 15, 1911...'"75,961 71,147lip to April 13, I0l2;..."fto;i0t:- • 35,501 • . Deficiency '...-.'./i "39,860 ' 35,61G .' Up to-the-present there is no appreciable increase in the supplies'; consequently it looks as if the quantity'of frozen mutton nnd'lamJi exported ,-froin li.nrnside this Benson-will be very, considerably; less than ■ 1 usual: This set-back in.the- company's operations can only'be..';of a. temporary ' nature. A general! survey of 'the pesition must make it abundantly clear that,- there, never Was a time in the history of frozen • meat since tho initiation of the trade .-se, fraught with such possibilities'tis eXist.-ut, I the present New ZealandProduce. Commissioner .says that ."the ! various working-class'vC?niiiuinities' Continent have bccome.'. r nw'are-.bE,tli?.,-ad'-:. vantages enjoyed by thcir.'.-VJclnglislvCcoiv freres, and last summer saw a determined movement all over the Continent towards the unrestricted importation of refrigerI ated meats. ...Erom. all indications it .would ■ Beem to lie" only'a "matter of time-when this state $._ affairs will .bo brought about." " ." v "■■■'■■■■ ■ -• ■ • • ■ • •■ ■' ■

FARMERS AND THEIR UNION. I "'"-" APATHY .AGAIN DEPLORED, ; In common with filter Farmers' "Union meetings held i.-f late, .members of the Pahiatua branch, at their annual meet--1 ing, voiced thp. cry,-,, for more ..enthusiasm. ' i Mr. A. Ross,-president, -emphasised -dim • necessity of a larger membership, and Mr. 'lSvltodgins' deplored the lukewarm- . ness'of ViieihbWs: -In 1 urging that more life should bo infused into the union, be remarked that they saw the same old 1 crowd attending the .meetings year after year. Ite thought they should do =the. thing properly or else wind up altogether: Ho was getting like the rest ■ of them, Tather tired of the present state of affairs. Mr. Hanson thought that for a district • like Pahiatua there should bo 200 mem-bers-instead of 35. He stated that the branch had not held A, mcatiug for twelve i months. He'did'hot mind paying a sul> eerip.tiqd ,of' .tlper annum it some good ; was done. The 'farmers were too slow, ;• nnd would not roll up to the meetings. ! The' following, officers ■were elected: — President, Mr. A. Ross; vice-president, Mr. T. Hodgins; executive, Messrs. T. V. Girtlwoodt J. Mathews, C.. Avery, Noilscn, A. MTariaiie, A. Maekay, and A. Verry; i Becretary, Mr. J. A. Walsh. Mr. Hodgins was appointed auditor, in place of Mr. Jl Casallj^i'g', '. fesigned, ■ and was also elected ■ delegate to the provincial Conference at 'Palnierston."'" : " -■--'■■■

MONEY IN DAIRYING. SOME" iLLUiIINATING PIGTJRES.' The Rangitoto district, between PalmerEton North. and I'oxton, is particularly well fitted for dairying, - and the milk business there appears, to be.au excellent proposition for men who wish to go on the land. A Raugitoto dairy farmer informed, .our travelling correspondent that ou a.-,jiß-acro'section he was running 32 cowsr Of these" 21)" were in inilk, and' his gross retums'for -the first three months of the present year ifom milk sent to the.,Cheese..i'uCtory. ■£52,\«!H8, and .£■ls respectively. In the three months these-26'cows averaged-iJI 175...2 d. per, month each, while .for January the average was .£2.per cow. per month.,. The average for the last'"four" months,of 1911 was at the rate of ,£ls per month, and, for the last quarter eliding June is expected to reach ,£2o"per month. Teturn for the nine months of the season will be about ,£385, .or an, average,.of £8 per acre for that period. . The' entire work on the farm .is performed by, the farmer and his wife. A T o doubt this return will be exceeded.this season in other cheese districts, but.it is'a good, indication''of the quality Of the soil on Raugitoto. •-

SELECTION IN BREEDING. PEDIGREE AND PREPOTENCY. The methods adopted in. breeding by the average, owner of horses, cattle, and sheep' lave* demonstrated the fact that one 01 the maia principles in the raising of a good animal—selection—has been.,, too much overlooked. The fact is that the tendency is to lay too much stress on the good points.of the.sire in*production,.and., pay too "little attention .on those of the dam,..:To- this •shortcoming uiustrbe- attributed many failures in breeding. There is an eSciisu .'to be made for the ordinary »tockowneiyinasmucn as he is .working in the dark to a large degree. In nine cases out of ten, v.'hen buying .a.sire, he is ignorant of the pedigree of the dams that are to be njateU with him. Tho reason is that, with only a small exception, we lack the niatqriul .that has enabled British and \AineTicnii-"stock-bi ; ee(lers to ; work bit 6afer. grounds. I refer to breed societies, and their published records. As regards tattle, Caates's "Herd Book" was the first published,}and it has laid the .foundation for all that!canie' after it: When Bakc-■n-ell's sheep work took fruit breed societies sprung up,. and. followed each other at intervals until nearly every one of tho ii types .of. sheep, and every type of (horses aiid cattle, is represented by a society aiid its published records. Tho.benefit of these registers is that the breeder '■eon-trace-thd'.'pedigre'es ..back. to the they were first recorded, and in the history of a type or breed the 1 leading ch"aractcristfcsYo£ some of the successful sires and 'dam's' are'Of ten given. This enables the ordinary breeder to. work on fairly.tsa'fe'.lihej; aVhd, if .he has found; that certain' lines' of blood-have given good results, all that he need do in keeping ui) these results is to carefully select the dams;'which in sheep parlance means "classing-and culling," and in tho large breeds rejecting tho undesirables. With such information at hand success comes

NEWS AND NOTES,

! to the average breeder as quiekJy us to tha man who can talk Darwinism and Mendelism bv the yard, > Tho roles'pla.ved by the sire and dam -in'production ripply cqimlly ■ to all living tilings, even plants, and, what is most important, to know, is that in the production of like to like the sire and dam are more or less dependent upon each other. AVo can seo this every day in human beings. The question, which parent will contribute most to the good qualities in the offspring, can be answered thus:— Given both sire and dnm to be free from extraordinary faults, the sire contribute; most. But this does not mean that greater attention must be paid to the sire than lo the dam. Each lias his or her role to play, and the thing for the stockbreeder to know is that Ixith are able to play it so as to ensure good offspring. . Now, if a stockbreeder has only a fair knowledge of liis business, but is a good observer of everything that pertains to it, and gives it his closest attention, he has practically mastered the main elements of breeding,-and he can watch for himself whether'.the faults in the progeny 'come ■more from ithc : -sire than the, dam. Snp;'posing lie .knows the pedigree of, botii. is-'satisfied that tho dam has produced Spod:offspring.before a new sire was ;introduced. but that tho mating is unsuccessful, it isevident thai the fault-is on the side o£ tlio sire. If the offspring, from ■another ilanr.is faulty also, then he must be satisfied that the sire is lint FXJiind, although his pedigree is not only a .long one, but thot it is a high-clnss one. The only, v-\y, then, is to (ret rid of him.— "Lana." in the Sydney "Daily Telegraph. "■

When an experienced raetory manager .declares'that a certain part of the.equip-' ment is "perfect" there must be splendid .features in the article. .The manager of the Featherston Co-operative Dairy Co-, in writing about "Victor" Vats, said they were "absolutely the lwsi and to his mind perfect." "Victor" Dairy Goods are manufactured by Albert J. Parton, Carterton.—Advt

LIVE STOCK SALES. (By Tclcgrapb.-Prass Association.) Auckland, April 25. At. the We?tfie!rt sale, fat cattle were yarded in larger number? than usual, and s->ld at advanced rates. Prime ox jold to J7s. per 1001b.: others. 245. to 265.; cows and heifers, 19?. to 225. Steer.- sold at from £5 7s. 6d. to £12 55., cows and heifers £4 ti £9 lfs. Veal came forward at usual numbers, and sold well. Heavy vcalers sild at from £3 ti £3 135.; medium weights. £2 to £2 165.; others. 2Cs. to 345.; smaller and fresh-dropped, 3s. to 15s. Sheep were yarded in larger Quantities thai'.' usu.aL the yarding being principally ewe sheep. Wethers sold at from I.V-. 6d. to 19s. 6d.; ewes, 9.-. to 14s. 3d. Lambs were in full supply, and sold at for well fatted, 10s. 9d. to 15s. 6d.: others, Bs. to 10s. 6d. Pigs were penned in larger numbers, and sold at, late rates.-'.'.-BaYoriors, £2 Ss. to £3 55.; large porkers, £2 to £2 65.: porkers, £1 7s. to £1 165.; slips, 2Cs. to 265. COMMERCIAL ITEMS. . . INVESTMENT SHARES A sale of Wellington Deposit shares at 7s. 6d. was the only transaction recorded yesterday. The buying and selling quotations were as under:— Buyers, Sellers. £ s. d. £ .8. d. National Bank — 6 3 0N.Z. and River Plate 2 0 0 - Union Steam 2 0 6 2 9 6 '''"ilniri C-al 119 12 6 Westport. Coal 17 3. — ■ Wcstport-Stoeltton — 0 3 0 I ■••• lP'td-O'li-ipn - 18 9 N.Z. Powell Wood Co - 12 6 Taringauuriu Tot.ira — 2 8 6 " M. "<-n].v. Ltd - .10 0 Cro.vn Brewery — 1 15 0 Donaghy's Rope and Twine — 12 0 Golden, flay Cement - 14 6 N.Z. Drug — 2 10 0 Sharlnnd s ordinary — 14 6 ' AUSTRALIAN WIDOWS" FUND. Policyholders, in the above life office received ■ their bonus certificates yesterday. The Australian Widows' Fund is now merged in..the Mutual Life and Citizens, and the trustees in their report say:— The trustees have carefully considered the details of every now investment and of every renewal, and are satisfied as to their safety. The policy reserves of the "M.L.C." section have been based on. an assumed future average rate of interest of 3 percent, per annum, whereas those of the Australian Widows' • Fund section have formerly been based on an assumed future average rate of 3J per cent, per annum. The trustees arc glad to report that _ a start has beeu made to place the policy reserves of the "A.W.F." section on the samo exceptionally strong basis as those of the "M.L.C." section. The actuary, in accordance with the agreement of union, has at this valuation strengthened the policy reserves of the Australian Widows' Fund section to the extent of £19,000 over that required by a 3j per cent, valuation. The amount required to increase the policy reserves of the Australian Widows' Fund section up to the high level of the "M.L.C." section will be spread over a number of years. The share of surplus allotted to the Australian Widows' Fund, section amounts to £49,012, which provides for the year 1911 a compoupd reversionary, bonus of £1 10s. per cent, (that is a bonus of £110s. per cent, on the sums assured'and 'existing .bonuses). This shows the substantial increase of 50 per cent.'over the rate of bonus (£1 per cent, per annum on the sums assured and existing bonuses) distributed for the four years and two months ending December 31, 1910. The average annual surplus of the Australian Widows' Fund for-the three years and five months ending March 31, 1910 (the date of the union) was £32,222 lEs. on a 3i per cent: basis ■of valuation. On the same basis of valuation the surplus for 1911 would be about double that average. The trustees are'satisfied that when the policy reserves of the Australian Widows' Fund section are placed on a 3 per cent, basis, the rate of. bonus to our policyholders- will show a further large increase. The trustees .'having been satisfied with the equitable ■ character of the valuation and tho actuarial methods employed by the company, and the actuary of the company having given his statutory declaration (certifying to the complete carrying out of the conditions of the agreement of union) to the trustees, the trustees have given their certificate.

OIL COMPANIES. The petroleum industry is being seriously ta.ken up. and, according to the "Mercantile Gazette," the following companies have been registered:— New Zealand Oil Investors, Ltd. Registered as a private company, April 18. Offices: Nathan's Buildings, Wellington. Capital, '."'£lo,ooo,'divided into 10,000 shares of £1 each. Subscribers: C. P. Knight, 1750; W. Clayton, 250; L. P. Blundell, 500; G. T. Weston, 500: C. J. Nathan. 250; J. P. Knight, 500; A. T. Date. 1000; W. E. Collins, 30CO: E. Downes. 250: A. S. Biss, 250; V. G. .Dalziell, 250; C. G. Knight, 500; R. D. D. M'Lean. ICOO. Object*: To acquire land or interest in land, oil, gas, or petroleumbearing properties and to prospect for the same.. British Empire Petroleum Co., Ltd. Registered April 20. Ofßce, Wellington. Capital, £125,000, divided into 500,000 of ss. each (100.CCO fully paid up). Subscribers: James Carroll, JI.P., MOO; J. A. Millar,■ M.P., 5000; M. F. Bourke,' 10,000; J. Hardley, 5000; G. T. George. 1000; P. B. Grcenlough. 10CO; O. H. Howard, 1. (Total, 27,001.) Objects:' To carry on. business of producers, refiners, storers, suppliers, and distributers of petroleum. t ' THE DOCTOR'S BILL INSURED. A British insurance company has recently formulated a scheme under which provision may bo made for tho payment of tho doctor's bill and other expensas incidental to sickness or accident which may incapacitate n. policy-holder from following his usual occupation. The policy is obviously n good one. When sickness invades the home no visitor is so welcome as the doctor. Th« rates quoted for this medical policy are very moderate. For an annual premium of 18s. an entrant, between tho ages of 20 and 40 ncx'; birthday can secure payment of medical and other expenses not 'jxceedinjr £1 per week on the average and up to n. maximum of £10 in oil. L'p to 50 years or ago the annua! premium for the same benefits is £1 55.. and if the ' maximum b'uclit is extended to £20 these premiums are increased '.o £1 Js. and £1 10s. respectively. Policies are not issued to femalcn or to persons over 50 years of ace, and all policies arc terminated when tho insured attains 60 years of age. There are no restrictions imposed as l<> foreign :ravel but bensflts are not- payable in respect of ailments contracted outside Europe. A discount, of 10 per cent, is allowed to total abstainers, and a, further allowance is made to holders of life assurance policies

A 7110 MFK OFFICE. The incomo of the Prudential Assurance Company during Ml reached a total Finn of £15,252,937. or £370.961 more than in the previous year. The income from premiums increased by £211.239 to £12,443,676, while interest, dividends, and rents yielded £2.809,261. or £159.722 mora than In 1910. The claims for the year In both ordinary -<£■ industrial branches, Including; baaiu

additions, were £6,399,331. The company's investments at the end of 1911 hnd gr:iwii to £81,239.632. compared with .£77.529,226 at the end of 1910. nnd in making tlieir investments it is interesting to note that the board arc guided by the belief that the greatest, smirity and tlie smallest liability to temporary fluctuations arc afforded by a distribution of funds over as wide an area as possible, both in regard to the class of security ond their geographical distribution. An investment reserve fund is one of the items of the company's balance-sheet, and this fund, which stands nt £1,375.000. is available for writing down securities where depreciation appears to be permanent. The amount applied ill this way during the year was £375.000, chiefly on account of the decline in the highest class of British investment. An increased bonus at the rate of £\ 16s. per cent, on the original sum assured was paid in the ordinary branch. Hunus udditions in both branches over the past live years have absorbed no less than £6,125,050. Policies in force number about 19.000,000. so that the magnitude of the company's figures can be understood. The rate of expense in the industrial branch was below 382 per cent, on the premiums received, and just over 33 per cent, on the income from premiums and interest. In the ordinary branch the rate was under S per cent, on the premiums received, or less than 6 per cent, on the premium and interest income.

. NIGERIAN TIN-MIXING. Excitement ran high in the London market over. Nigerian tin-mining ventures some weeks ago, and at the date of the dispatch of tho mails last received speculation was still in evidence. The "jungle" section of the market, as the 3Vcst African group is termed, consequently attracted a large number of operators from other "pitches" in the hope of benefiting from the allround advance in prices. Activity was spread over investment a.nd finance companies as well as the ventures actually engaged in raining, and when it is pointed out that in some cases two subsidiary companies are interested in the one lease, as well as the original holder, the scope for the promoter can be understood. Then the oxtent to which gambling has been carried on over this boom can bo gathered from the fact that the formalities in connection with the flotation of the first, syndicate which acquired a block are sometimes not completed before the shares of the second subsidiary company, designed to ultimately work the ground,, are buffeted about on the market, jrovements in prices have naturally been.sharp, and in the case of one of-the most popular stocks (Anglo-Con-t.iuental), whosj 10s. shares were obtainable at- 12s. 6d. at the end of January, an advance to 755. was recorded a .month auo. Another- prominent concern, the Eoyficld Syndicate, which combines the functions of producer and vendor of leases, experienced an upward movement from £3 to £6 2s. 6d. in the same period. Thsee facts seem to indicate that tlie Nigerian tin boom is likely to run a course reminiscent of the ruhber boom of a year or so ago. The field concerned is. however, not an entirely new one, as three companies won 527 tons of tin oxide in Nigeria in 1910, and in 1911 an aggregate output of 1795 tons was secured' by 15 companies. . Flotations during the past two years have provided for many more producers as 19 new companies were floated from the beginning of 1911 to the end of January. 1912. hut liw many of them will survive the period of high prices for the metal it is difficult to predict.

Customs revenue collected at the port- of Wellington yesterday amounted to £2250 14s. 10d. LONDON MARKETS. The New Zealand Loan and Mercantile Agency Company, Limited, have received the following cablegram from their London house, under date April 24:— Tallow.—Wγ quote present spot values for the following descriptions of tallow:— Oood mutton, '355. 9d. nor c:\vt.: good beef, 345. per owt.: mixed, 325. 3d. per cwt. The market is firm. Wheat.—We have sold at %. 9d., c.i.f., «. handy Australian care* There is very little demand owing .to increased sunplies, and market prospects arc not likely to improve nt present. LONDON WOOL SALES. Br Telesraph—Prore Afisociation-Copyrisht London, April 24. At the wool sales there was pood competition. Prices were unchanged. The following .ire prices ■ realised for the flesce portion of the clips named:—"Tnutane," top price 12Jd., average lUd.i "Titi." top ur.ico.l2d., average 103 d.: -'To Aniti." top price Hid., average 101 d.; "Ashwick," 22Jd. (liec. April 25, 10.30 p.m.) London, April 25. fold as follow:—Jlpndin Hills, top price 13d., average 123 d.: Otairi. top 13d.. overage 10(1.; Olrig, top 10jd., average 3Jd. Messrs. Dalgety and Co.. Ltd., Wellingkm, have received cabled odvice from head office, under date April 24, that the programme for the wool sales has' heen shortened by three days, and that the sales will now close on May 4. BILVEK. n.r Tolezrußh-Prew 7lr<i>d»f fan—Cnprriehl London, April 24. Bar silver is quoted at 272 a. ', per ounce standard. WHEAT. The American visible supply of wheat is 104,725,000 bushels. TALLOW. At the tallow sales 1953 casks were offered and 1661 sold at a sixpence advance. AUSTRALIAN PRODUCE MARKET. (Rec. April 25i 11.30 p.m.) Sydney, April 25. Wheat, 3s. 113 d. to <s. Id. Hour, city, £9'55.: country, £9 2s. 6d.; bran, £6 IDs.; pollard, £7; oats, Tasraauian Sparrowbills 3s. 5d., Gionts 3s. sd. to 3s. 6d., Algerians 3s. 5d., feeding 3s. bd.. New Zealand 3s. 4d. to 3s. 5d.. Giants 3s. Grt.; barley, Victorian and English, sa. 9d. to 65.; maize, ss. 3d. to ss. 6d.; potatoes, £8 IDs. to £10 10s.; onions, £13; butter, selected brands 120 a., prime 108s. to 1165.; cheese, 9d. to 9Jd.; bacon, 7Jd. to 7Jd.; HIDES. Melbourno, April 25. Hides in sloppy condition, Jd. easier; others steady. MINING NEWS. WELLINGTON SHAKE MARKET. At the moraine call yesterday a sale of Talismans at 435. 6d. was reported, and, in the afternoon, two sales of Waitangi at Is. and lid. were recorded. The buying and selling quotations were as under:— Buyers. Kcllere. £ s. d. £ s d. Blackwater - 14 0 Keep-it-Dark — 19 6 Now Big River 1 4 2 6 — New. Sylvia 0 0 6 — Occidental .' - 0 11 Old Hauraki - 0 2 0. Talisman 2 3 6 2 3 9 Waihi 1 16 0 1 17 6 Wiiibi Grand Junction ... 1 5 9 — Waiotahi - 0 2 11 Weitarigi 0 - 0 10 0 10 Worlisop Dredge 3 2 0 3 5 0 The Wellington Stock Exchange received the following telegram yesterday from the Old Hauraki Company:—"Crushed 53 tona quartz, and 401b. picked stone for 107oz. melted gold."

, STOCK EXCHANGE. (By Teleeraph.—Press Association.) Auckland, April 25. Business done at this morning's call included:— lionowai, 6d. Now Sylvia, 6d. Waiotahi, 2s. 9d. Waitangi, Hid. Haurakl, Is. 9d. Talisman, £2 35., £2 ss. 3d. Grand Junction, £1 sa. 9d. Northern Steam, 14s. Ud, Brosincss done at the 3.15 p.m. call was as follows :- New Sylvia, 6d. Occidental Consolidated, la. Id. , Waiotahi, Zs. id.. 2s. 3d. Waihi, 375., 395. 9d. Waihi Grand Junction, 265. Taranaki Oil, 225. 6d. New Zealand Crown, 2s. 7d. Talisman Consolidated, 435. 6d. Northern Steam (paid up), 14s. lid. Dunedln, April 25.--The following sale was made on the Stock Exchange to-day:-Talisman Consolidated, £2 2s. 9d. Sales reported:—Golden Bed (rum dir.), 12s. 6d.; Waihi, £1 165.; National Insurance, £1 18s. 6d.; Bank ot New Zealand, £11 75., £11 7s. 6d.