GENERAL FARMING NEWS

Dominion, Volume 7, Issue 2119, 9 April 1914, Page 10

GENERAL FARMING NEWS

The establishment of freezing works at Taihape is how almost a matter of certainty (says our correspondent). At the preliminary meeting in connection with tho proposal, it was stated that a guarantee of between 75,000 and 80,000 sheep each year for freezing purposes would be required, and a. committee was appointed to canvass the district. The canvass has not been completed, but. a guarantee of 80,000 sheep per annum has been obtained and tho committee is confident that it will he able to report at a meeting of farmers on Wednesday next to the effect that a guarantee of over 100,000 sheep per annum has been obtained. Arrangements have boeit made for holding tho annual meetings of Wairarapa branches of tho Farmers' Union this month. At 'these remits will bo prepared for thu provincial conference- to bo held at Wanganui. •The world exacts from you its toll of worry and work—there's no need for yon to add to it. Moke things as easy as you can—"Victor" Vats lighten labour and help increaso tho quality, of the cheese. "Victor" Vats have that sloping bottom which caused such a sensation in the cheese-making world. . Every factory shonld'havo Victor" Vats, they are built for efficiency and satisfaction. Write for particulars. Albert J. Parton, Plumber, Carterton.—Advt. LIVE STOCK SALES. Messrs. Dalgcty and Co., Jdd., Mastcrton, report having held thoir Grcytown sale, when a. small yarding was presented to tho Jew buyers who wero bravo enough, to face tho weather. <Eho following prices wero realised:—Four-year ewes, V.z. lOd.; (store tombs, le. and 7s. 2d.: b.f. rapo lambs, 12.5. lid.; fat cows, £6 2s. Gd.; cow in milk, £4 10s. . • '.Messrs.! Abraham and Williams, Ltd., report on their Johnsonville Hole, held yesterday, as follows :I-A fair entry of bullocks end sheep came forward and sold, nt late rates. Prime bullocks, £11 2s. 6d. to £11 Wis.; lighter, £10 10s. to £10. 15a.;. prime venters, 3&3.; 'etorc cows, £3 to £5 ?,s. 6d.; medium wethers, £1 to £1 6s. 3d.; prJmo owes. 17s. 6d. to. 17s. M.; plain ewes. 16s, to 16s. 3d.; good lambs. 14s. Id. to 14s. 6d. ADDINGTON MARKETS. (By Telegraph.—Press Association.) Christchurch, April 8. There was a good attendance at the Addington live stock market, to-dav. Pat. cattle showed an increase, and all tho other classes in the sale were about on a par with last week's market, though e. decrease was noticeable in store ehcep. Forward Tapo lambs elicited spirited competition, sales being made at prices showing no .decline, from those current a week earlier, whilst a poor class of iambs changed band 3 at prices on a parity with recent ruling values Wether's, of which p, fewwere offered, were unchanged, v Fat lambs: Tegs. 19s. to £1 63.; average weights. 17s. to 19s. Id.; lighter and unfinished. 15s. 2d. to 16s. IGd. Fat sheep: I'rime wethers, £1 Is. to £1

39. 3d.; extra, to £1 5a.; prime ewes, 17s. 96. to £1 2s. 9e1.: medium ewes, 14s. 9d. to 17s..fid.; aged cull and light, Us. lid. to 14s. f.4. * Fat cattle: Ordinary .steers, £7.155. to £11 10s;: extra'good steers, to £15 55.; ordinary heifers, £5 17s. 6d.' to £9 7s. 6d.; extra, good heifers,, to £12; ordinary cows, £5 ss. to £8 55.; extra good cows, to £13 ss. Store cattle-: Two-year steers, £4 55.; two and ft half-year steers, £5 ss. to £5 175.; two-year heifers. £4 Is. to £4 2s. 6d.; threeyear steers, £7 35.; throe-year heifers, £5 Is. to £5 2s. 6d.; dry cows, £2 to £4 155.: calves, £1 2s. to £1 55.; dairv cows, £3 IC&' to £10; extra good, to £13 155.; fat calves, Bs. to £2 IBs., according to quality. Pigil: Choppers, £3 to £6 55.; heavy bacoriers, £3 to £3 10s.; light baconer*. £2 10s. to £2 19s. (price per lb. sd. to 5Jd.); heavv porkers, £2 to £2 55.: light porkers, £1 16s. to £2; (price per lb., 6d. to' 6}d.). Store pigs: Best stores, £1 16s. to £2 25.: medium; £1 Es. to £1 155.; small stores, 1E& to £l'7s.'; weaucTS, 10s. to lcs. ;■'.- COMMERCIAL ITEMS INVESTMENT SHAKES. A sale of New Zealand and River Plate shares 1 , at 425. 6d. .was the only transaction recorded in tho investment market yesterday, Tho quotations were-, an under :— Buyers. Sellers. £ B.' d. £ e. d. Bank N.Z. (£6 13s. 4d.) ... 16 0 0 - National-Dank 5 6 0 — Metropolitan Building ... — 12 0 0 National Mortgage 4 0 0 — Well. Investment — 011 3 Christchurch Gas ." 7 0 0 — Gisbornc Gas — 2 2 6 Wall. Gas (£'o) 16 5 0 - National Insurance 2 11 3 — Uhristchurcn Meat 15 17 6 — Union Steam (prcf.) 10 2 — Kaiapoi Woollen Cord.) ... 5 3 0 — (Veil. Woollen (ord.) 4 16 — Leyland-O'Brien .- 1 * 0 Taupiri Coal — ' 13 0 Golden Bay Cement 0 18 0 — ■ Sharland's ordinary 110 — Sharland's preference. 110 — Ward and Co 5 0 0 - W.F.O.A. (£5) : ■ — ' '1 5 " W.F.C.A. (£1) - 16 0 THE BEITISH BUDGET. Mr.: Llbyd-Gcorge, the Chancellor of the Exchequer, will probably delay tho delivery of his Budget until after Easter and tho return of „Mr. Asquith. for East Fifeshirc.' Last year the Budget was out very early, and in 1912 it was presented to the House of Commons on April 2, that is, two days after the'close of the financial year. During the financial year,. 1914-15,' the Chancellor win have to provide for a further increase in expenditure. Tho largest increase is. in tho Navy, the Estimates of which for 1913-14 showed a total of £46,309,000 (to which are to bo added Supplementary Estimates) while the total for the forthcoming year is £51.550,000,' an incTeaso of 55 millions. Tho Army will take about £625.000 more, the total Fjstimates for 191415 being- £28,845,0C0. The expenditure on old-ago pensions continues to grow, being estimated at £13,141,000 for 191445, or an increase of about half a million. National insurance will absorb about £9,000,000, or an increase of about a million and a half. Assuming that' tho amount devoted to interest and sinking fund on the National Debt is unchanged nt 241 millions, the total expenditure for the 1914-15 financial year will be fully wE204.C00.0C0, against tho estimate of £195,640,000 for 1913-14, an increase of nearly 8J- millions. A total expenditure of £294,000,000 compares with an average of about wEISI.CCO.OCO per annum between 1904-5 and 1907-8; so that, as "compared with about seven to ten years ago, the present, scale of expenditure showa an increase-of about 53 millions. Comparing with-1907-8, tho Army expenditure for 191415 is larger by about a million and three(inarters, but naval expenditure showa an increase of over 20 millions.' Naval expenditure seven, years ago declined to tho relatively moderate level of wE31.141.0C0, but tho policy.of moderation on the part of tho British Governmont at thot timo was not responded to abroad, and the Government has since found itself compelled to enlarge the expenditure on tho Navy, 40 millions being reaohed in 1910-11, and 514 millions in 1914-15. Other important increases during tho past seven years havo been in connection with old-age pensions, £°° n r eMhatißes, and national insurance, los,. Oflice expenditure has also grown in proportion to the increase in revenue. PRICE COMPARISON. It is interesting to compare tho prices in London- of somo of. Now Zealand's products at periods twelve months apart.: The following tabic shows the movements:— April 5. April 4. r < u ~ 1913 1W - Canterbury mutton 4J '43 North Island mutton 4J 4* Canterbury lamb 61 61 • Other N.Z. lamb 6$ 6V N.Z. beef fores 3} 33 N.Z. beef hiuda 4746 N.Z. butter 117s. 108s. Australian butter 108s. 106s. Danish, butter lJ5s. 1245. N.Z. cheese 60s. 6d. 625. 9d. Canadian cheese 645. 6d. 70s. 6d. N.Z. hemp, good fair £34 £25105. Manila hemp -. £33 £25155. It will be seen from tho ahove that mutton and beef are appreciably higher than they were a year ago, and lamb is slightly lower. Butter has declined by 9s. per owt., while tho fall in Dnnish butter is only Is. and in Australian. 2s. New Zealand cheese is 2a. 3d. higher on tho average, but. Canadian shows a gain of 6s. per cwt. New Zealand hemp ha« suffered severely, having registered a, fall of £8 10s. per ton without any corresponding fall in tho cost of production. COMPANIES CO-PARTNERSHIP. A Bill to promote the adoption of copartnership by statutory. and other companies was introduced into tho House of Commons a few weeks ago. The memorandum states that the Bill represents a. tentative effort to encourage tho principle of co-partnership in the industrial life of the country. Tho main objects of the Bill are. first, to enable companies to adopt copartnership in cases where they would otherwise be debarred from doing so, either by their private wVcts of. Parliament or their articlos of association; secondly, to set out in the form of a schedule a model scheme of co-partnership for tho voluntary adoption; and, thirdly, to provide that such model scheme stall ordinarily be a condition, for granting statutory power to now companies to raise capital, though, of course, without, attempting to fetter tho discretion of Parliamentary Committees in individual cases. Under this scheme certificates of partnership in tho objects of tho company and a sharo in its surplus profits are to bo granted to all persons in its regular employment. It is provided that tho standard rate of wages shall be taken to correspond with a. standard return of 5 per cent, on all paid-up capital, and when the return is higher than 5 per cent, tho employee becomes entitled to a bonus calculated at one-twentieth of his existing wages for every extra 1 per cent, paid in dividend. Thus a' company with a paid-up capital of £ICO,CCO and a normal wago bill of £20,000 would, if it paid 6 per cent., havo to give ite> employees an extra. £ICCO, or £21,000 in all; if it paid 10 por cent. £25,003,' and if it paid 15 per cent. £,30,0X0. Similarly a workman with a standard wage of 30s. a week would get 31s. 6d. on a dividend of 6 per cent., 375. Cd. on a dividend of 10 per cent., and 455. on a dividend of 15 per cent. As, however, it is not deslrablo that tho' whole bonus should bo paid over in cash, it is provided that trustees shall be appointed to whom at least half the bonus shall be paid and by whom it shall bo invested, if possible, in the shares of tho company itself. Further, in order to meet the varying circumstances of different industries, it is provided that in tho case .of registered companies tho Board of Trade may allow other regulations to be substituted in individual instances,' and in particular may allow a lower rate of bonus when salaries and wages bear a specially high proportion of the annual cost of the business of the company. ' Thero o.ro also provisions for tho cloction of trustees and directors and for tho adjudication of differences. CUSTOMS REVENUE. Customs duties collected at. the port ot Wellington yesterday amounted to £5624 2s. Id. FINANCIAL CABLEGRAMS. By Tolcgra-ph—Press Association—CopyrightLondon, April 7. Yesterday's closing Quotations were as follow :— Bank of Australasia, buyers £117, sellers £119. Bank of Now South Wales, buyers £40 155., sellers £41 15s. Bank of Victoria, buyers £4 ]os., sellers £4 15s. Union Bank of Australia, buyers £56, CHller* £57. - National Bank of Australasia, buyers £5 2s. Si., sellers £5 ss. National Bank of New Zealand, buyers £4 155., sellers £5 ss. Bonk of New Zealand, middle price £910s. N.Z. Loan aria .Mercantile Agency 4 per cent, debentures. £91. Oity of Melbourne, 4 per cent, debentures. £100. Melbourne Harbour Trust. 4 per cent, debentures, £99. Melbourne Tramway Trust, 4J per cent, debentures. £101. ; Melbourne and Metropolitan Board of Works. 4 per cent, debentures. £95. Australian Mercantile Debentures, £94 10s. Dalgety and Co., 4 per cent rtebonlures, £95.

Dalgcly and Co.'s shares, buyers £6 iCs., sellers £7. . . ■.->- Melbourne Gas Co.'s debentures, £99. , .' f '' City of Sydney. £99. • Goldsbroush, llort and Co.'s debentures, £55 10*3. ■./■ Bank, of New Zealand, 4 per cent. giar'- ; anteed stock, £100. ■~■.,:s'':'■ AUSTRALASIAN TRUST (Roe. April 8, 10.25' p.m.) '"'%'; London, April 8. Tho Australasian Trust Ago«cy litis declared a dividend of 15 per cent., and ear-', ried to the reserve a sum of £13,000, ■' .;■ BOARD OF TRADE RETTFKNS;--„■?■%'■ London, April !■'■ Board of Trade returns for the month' of March show that imparts increased, by £5,592.784 ;ind exports by £2.888.714. while ie-. exports decreased by £9G,S>2B, . <'■.■>.'' wheat. ; :'.;V ; . (Rec. April 8, 10.25 p.m.) .'■ . .;.'.-. London, April 8. The wheat market is steady, and prices are unchanged. New York, April 8. Tho Government estimates tfcat the supply of winter wheat will reach 630,Kf1,€ , C0 bushels—a record. Tho American visible supply of wheat east of the Rockies is estimated at 95,134,0CG bushela TnE METAL MARKET. (Rec. April 8, 10.85 p.m.) London, April 8..' Copper—On spot, £65 155.: i months, £66 Is. 3d. Tin—On spot, £167 55.; 3 months, £68 15s, Load-£lB Is. 3d. • HIDES.. ..,. • (Rec. April 8, 9.25 p.m.). Melbourne, April 8. Tho hides market report av-eragn supplies, with good competition. "Slippy" lots arc Quoted at. ),d. lower; otherwise prices are unchanged. ' AUSTRALIAN PRODUCE JfABKETS. . (Rec. April 8, 9.25 p.m.) Sydney, Awil 8. Wheat, 3s. 9d. to Is. 9|<i. Flour, £8 2s. 6d., £Sss. Oats, Algerian feeding, 2a, 2s. 2d.; milling, 2s. 3d., 2s. 4d. Barley, Cairo malting. 2s. 7d.. 2s. 9d. Maize, As. 3d. Bran and pollard, £4 10s. Potatoes, Ttismauian, £7. Onions, Victoria., £5 15s„ £7. Butter, selected, ICtte.; secondary, 535., WS. Cheese, 73d. Bacon, 81d. Adelaide., April 8. Wheat, 3s. 9d„ 3s. 9id. Hour, £9, £9 ss. Bran, Is. Id. Pollard, Ib. lis.