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FARMING & COMMERCIAL

BRITISH MADE GOODS THE PREFERENCE QUESTION. 'Afc tlie • Taranaki Provincial Conference of tho New Zealand Farmers' Association, in speaking to a remit forwarded by the Kaponga branch, "That the farmers of the Dominion be asked ■ to give preference to British-mado goods, 1 particularly as regards farm implements," Mr. Maxwell said that lie regretted' very much that Uio couM not express himself as he would like on this matter', but he must remind them 1 -that they bad reached a stage in the history of the British Empire when it was absolutely necessary to guard their oivn interests and the interests of their friends as opposed to those who would simply slaughter the British races and /: hei 1 Allies. Germany had been guilty of barbarity never before known in the world's history, and it would be absolutely absurd to do anything which would tend to support such a nation. •Tho winning of tlio present ivar would not necessarily be the end of things. ' Germany, if she gets tlie opportunity, v/ill go on building up again, as she did after tho Franco-German war until . she was once more strong enough to tackle -Britain, but it was tho business of all British people to make that im- ■ possible.' No ono must be so contemptible as'to study liis own pocket before the interests oi the world and humanity. He was satisfied that in their selfinterest, they must oombine against these people and particularly the Germans, and they must give preference ■-...' ill trade to tho detriment of their trade..- (Applause.) He suggested an amendment to the motion by making it rtad -Britain and Britain's Allies/' The chairman was in sympathy with ■ the moti<iii,'' on'.' the: general principle that Ire "liked ticf'favour Tal'anaki goods, and next to them Dominion goods, and then British goods. Wider application .•would be covered by adopting this motion. It only meant that tney would be giving-preference ;to their/brothers and sisters. . 3lr. Lambie, wiiilst favouring the motion,..saw, trouble ahead .with nations like China. They were buying our raw material, and because their labour was only about a tenth of the cost of labour, they would- be flooding ihe market unless an enormous preference were put on. He motion, in its amended form, was carried. GENERAL FARM NEWS The following extract from "Country (Life" in Canada will be read with interest:— "The increase in cheese production in New Zealand has been • astounding. In the ; ;last, seven yiears. the output has increased 7/0-per. cent.,: and no one seems able to-foretell how macfr this may increase during: the-next, seven. In New. Zealand the soil, is very fertile, and "the cattle remain outside .the year, round, but these ; two reasons aro not given as' being_ the only, ones affecting cheese production. Dairymen in that country have for years foreseen tho inroads which' the margarine trade was .i likely to make on the. butter, demand, and during the last few years factories proposed have been nearly all cheese factories, and very few- butter factories. '' New Zealand dairymen look for a wider market and a greater increase in the demand for cheese than butter. Judging from the figures on the increase, and tho rapid strides cheese production 5s making in New Zealand, also from conditions in this country where tho cheese factory is gradually being driven ; out of business, it would seem wise for our dairymen to develop' along butter ■ producing lines. Mr. A. McG. Robertson, who is fanning a very nice piece of country just beyond the Tawhiti Stream, on the outskirts of Hawera, says the "Hawera and Normanby Star," is about to try , an experiment which will be of interest to dairy farmers in Taranaki. He is just now laying the foundations and concrete floor of a cow-lyre, 80ft. by 30ft.. which will be built'to a Government design, and will accommodate 40 cows. The idea is that if during tho cold weather the cows are kept iu their {stalls all night and properly fed that ■ ihey will continue in milk for a longer period, and will be in a better condition at the end of the winter months. ; 'At all events, Mr. Robertson is going : to. prove or disprove the theory so far 'as his stock are concerned, and he is ■ ~ jsparing no expense to give it a fair , [trial under proper conditions. i The Timaru "Herald" reports that a ifield of about 10 acres of potatoes, land •formerly part of the Levels Estate, has ■yielded 10 tons to the acre, which, considering the dry season, must be ac- s counted very good. Only one variety, < iljp-to-dates, was sown, and the potatoes j lave come out quite sound and free j from blight. Some of the tubers « .weig'lied up to 21b. each. j i ~ — i ' "That settles it!" is what farmers say 3 Svhen they hear of prices paid by the Wan- | ganui Fresh Food Company. 0£ course you } will supply the company that gives you j ihe best result, and noes not want you < ■to pay ;out in shares what will take yoars i perhaps to earn. What is the good of t B hares. to you when you sell out your 1 place? Rail your milk and cream to the ( Wanganui Fresh Food Co. —Advt. e : — ; 1 , Dairy Factory Managers should get par- j i'ticulars of tho celebrated Victor Cheeso IVat. Everyone that has .used a "Victor" ' Bays they are the best made. Albert J. ■Parton, Dairy Specialist, Carterton, \ — ' Q COMMERCIAL ITEMS INVESTMENT SHAKES., In the investment market.,a sale of N.Z. at' "465." 3d. was reported, me Quotations were as Bell( , rs .. t " ... £6. d. £B.d. J (National BaaX 1 ., • *!•v*'' 17 -a • ° Bank N.Z. -(£6 ,13a y M.k.. 17 A 0 iWslI. Trust, Loan;-Ltf. ~ - > il j •N.Z. Insiiranco -• &6 " _ 3 Boar. Meat (£1) 3 IS , i 4 3 ( Union' Steam (ord. 13 10 1J.4 1 Well. .Woollen (ord.) 410 0 N.Z. Portland Cement ... 0 7 3 _ fiolden'Bay Cement 1 .J ;» Customs duty collected in the. port of .Wellington yesterday amounted to £3185 18s. M. > HOARDING. SILVBR IN EGYPT. Tlie shortage of silver currency - , .which first became apparent at the beginning of the veal", has now bccome very accentual,d in Cairo, states Keutor's correspondent. ' Banks have very small stocks of the coin | ill hand, and are quite -unable to meet the weekly demands of the cigarette manufao- - iurers and other large employers of to- J fcour to meet the wages of . their workmen,' after military requirements liave f 1 views are expressed as I the Teason of thie shortago, but inquiries of leading bankcra would-tend to ; show that' it 1 arises mainly from two causes- firstly, the extra demand on the Srrtncy aa the result of the number of e tooops that have been placed 111 Egypt; t and hoarding by the public, principally the fellahin. The bank! in j the Sdinary way could have restricted ~ ?hS CT?Dilv of silver to the public, and, in « the ovent of hoarding, controlled the cjjculalion to such en extent as probably to li force tho metal back into the market; g l,ut a sum of about £5000 weekly has to f he put out to the mihtory panties , f « v tho troops, is put into clrculati in by tho latter, -and retained by the public. About £100,000 has found its way into circulalion in this manner and has not been (_ returned to the banks. . d Tradesmen. in?Uiftd of paying their tflK- g inu's into the bank;, now hold fairly large reserves of silver to meet the demands thflt at* ma4c ujon them b? trooso^e

NEWS AND NOTE&

ahd jenoral publlo, aj inability to provide change would, result in tlio restriction of their business, and they fear that if they paid the coin into the banks tho currency would be loot to them iu that form, i From tho moment that the bank note was declared to be legal tender gold practically disappeared from circulation. The native dislikes paper money, and tho opinion prevails that being linnble to obtain gold, the fellah is now hoarding silver. T!io Government, in consultation -with the banks, has been actively engaged in Broking a solution of these diflicuities. Orders for fresh silver coinage have been given "to England, but the quantity that lias so far arrived has been found totally inadequate. A further consignment of £10,000 is duo, but in the opinion of one of the leading bankers this will in no way be sufficient. Both tho Government and the banks arc averse to tho issue of silver currency notes of small denominations, bat unless silver soon flows back to the market in important quantities this is a measure that will have to bo adopted to rolieve the situation. Tho Government lias notes of ten and twenty piastres '.about tG. and 4s ; Tespectivoly) ready to eut into circulation, but everything will o done to obviate the use of this form of currency. Efforts are now being made throughout the villages and towns to induce the public to part with silver in oxchange for gold. It is interesting to remark, however," that a small experiment in this tray recently' made by a. Cairo bank was not vary successful, for after baring given out the gold the siltct thus obtained was subsequently absorbed by the public. CUNAItD COMPANY. In their report and financial review for 1914 the directors of the Cunard Steamship Company (to which concern the torpedoed liner Lusltanie belonged) state that, subject to the completion of the audit, the profits for the year, including £130,378 brought forward, amount to £1,417,326, as compared with £1,276,795 (£88,964 from 191,2) in 1913. After debiting income tax and reserving £550,472 for depreciation (against £443,637), transferring £350,000 to tho repairs and renewal account (against £300,000 and £100,000 to reserve) and £68,949 to.the insurance fund (again6t £59,735), it fs proposed to recommend the payment of a dividend of 10 per-ccnt. and a, bonus ol 10 per cent, (against 10 per cent in 1913 and 1912, 75 per cent, in 1911, 5 per cent, in 1910 and nil in, 1909), leaving £141,996 to be carried forward). It has been decided to give the shareholders tho option of receiving the bonus in''cash or in. ordinary shaTes at par, which. will have the effect of increasing the ordinary capital of tho company from £640,000 to £704,000. It is Elated that the net- earnings last year represent e return 1 of- 6J per cent, on the wholo of the funds employed in the business. ■ It should be pointed out, however, that according to the last accounts of the company there was owing to the Government £1,820,000, on which only 23 per cent, interest was paid, and the saving effected by securing the loan at this rate represents a dividend on the ordinary shares of about 6 per cent, for the past year. The reserve funds of the company at December 31 last would appear to amount to £1,295,915,' against £1,177,555 at the end •ol »«.• • NEW YORK LIFE. The annual report of the New York Life Insurance Company states that the death losses incurred in 1914, including an extra reserve of £100.000 for losses probably incurred but not reported, were 73 per cent, of tho amount provided in the premiums for the mortality of that year. In 1913, when they had no war claims, their mortality was also 73 per cent, of the amount provided: • In 1912 it was 76 per cent. The total wax losses actually incurred to December 31, 1914, including the countries whero their risk was abundantly coverod by policy conditions, or otherwise, according to information obtained by both letter ind cable, amounted to a little loss than 2 per cent, of the total death losses tor the year. It had been said that the :ompany would suffer because of its foreign investments. This was not true. Their foreign investments, limited as they had been to Government bonds and high-grade municipals, had naturally fallen in. price, but not appreciably more than domestic securities. No security issued by or in any country engaged in this war, and held by the company, was in default of either prin3ipal or interest. TRANSVAAL GOLD. The chairman of the Chamber of Mines, Johannesburg, at the annual meeting held on March 29, remarked that at. the present time tho benefit of bigger production from the national point of view was extraordinarily clear. A very real factor in the ultimate success of tho Allies was the possession of a large gold roservit, ana ihe Transvaal output was a most important factor iu steadily increasing that reserve. Their contribution to the raw gold received in London, which, -was estimated by Mr. Lloyd George at £50,000,000 per ihnum, was over 70 per cent. Of the total >f the world's gold output in 1914 they had produced nearly 40 per cent., and the British Empire had produced approximately >0 per cent. ' ■ WHERE GOLD IS AT A PREMIUM. According to Rumanian papers a brisk re.i!e is being carried on in tho cafes of 3ucharest by gold speculators. It aplears that a, sort, of gold mart has been nstituTed in the Grand Cafe, and the 20nark piece fetohes between 37 and 38 'rancs, the French Napoleon 30 to . 32 Tones, and the sovereign 38 francs. It, s related that one speculator made i£4CO n five minutes by selling 1000 gold pieces, lpon which he made a profit of Bs. each, i. number of professional "beaters" in the >ay of these speculators are spreading the •eport that gold will soon be at a premium of 100 per cent. SOUTHERN MARKETS. (By Telegraph.—Press Association.) Chrlstchurch, May 2b. The Government Statistician's report howing that up to May 17 6,169,760 bushels f wheat had been threshed should do -way with any fear of a shortage in the lominion requirements for the year. It 3. probable that there may bo at least not her half-million bushels to add to he total from later threshings. There :«s been little inquiry for wheat lately or the North Island, but no sales are eported by farmers. A few sales have ieen made of wheat in second hands. Ono ale of Tuscan and Hunter's being at 6s. ld'f.o.b. Local millers are apparentlv lot buying at present. The quantity of ats reported an threshed up to May 17 ;as M 65.066 bushels, but it is evident that lie supply is going to be short. „The mrket is firmer, and Garton's are -worth s. lOd. and 3s. lid. at country stations, ►atehcaf chaff is firm at £6 ss. <tt country to,tion6, but.little busiuess ia doing. Tho otato market is still quiet, with few " e rlng« from growers. The present prico > £3 10s. at- country stations, and £3 15s. o £4 lor June delivery. SYDNEY' WOOL SALES. By Telegraph—Press Assn.—Copyright.) (Rec. May 25, 9.40 p.m.) t Sydney, May 2J. The wool gales have been rcsumeai. '.fcn aon&and bales were offered. For tho etter classes there -was a pood demand irgofy paS«i. faUlti ° 8 wero neßle<:ted ' ana MINING NEWS WELLINGTON ..SHARE MARKET. A sale, of Waiht at 39. 3d. was the only transaction recorded,-.in the mining marct yesterday."' The quotations were as nder:— . . ;.v Buyers Sellers. , £8. d. £s. u. •OS3 3 0 9 0 1 0 Wisman •; 13 9 14 3 irand Junction '. 14 0 — raitangi 8 14 « 1 7 STOCK EXCHANGE. (By Telegraph.—Press Association.) Auckland, May 25. Sale reported:—Taupiri Coal, I4e. 9d. Chrlstchurch, May 25. Sale -reported:—Union Bank of Australia. 157 Us. Dunsdin, May 25. The following sales wero made oh the tock Exchange to-day:—N.Z. Drug, £2 6s. i.; N.Z. Insurance, £6 Is. 6d.; Bank of 'cw Zealand (new), £17 7s. 6d. iIttGINSON AND MACSHANE, 143 Featherßton Street, Wellington. HABEBROKERS and ACCOUNTANTS. lON.EY TO LEND on First-class Freehold Security. Messrs. Dalgety and Co. advertise the ntries for their Tipper Hul.t stock sale, ) be held on Thursday. The New Zealand loan and Mercantile gency Co., Ltd., will hold a stock sale t Levin on Friday. An unreserved sale of sheep, cattle, orses, implements, etc., wil be held at hannon saleyards, on June 2, by Messrs. braham and Williams, in conjunction ■ith Messrs. Levin and Co., on behalf of ie Makerua Estate Co. • _ Nominations for the Manawatu Trotting Tub meeting on June 9 close on 'i'hursa.y, at 10 p.m., with Mr. G. F. D. VVatin, secretary. The Gas Company advertise crushed oke for salo at is. 3d, par sack delivered.

Permanent link to this item
Hononga pūmau ki tēnei tūemi

https://paperspast.natlib.govt.nz/newspapers/DOM19150526.2.86

Bibliographic details
Ngā taipitopito pukapuka

Dominion, Volume 8, Issue 2471, 26 May 1915, Page 10

Word count
Tapeke kupu
2,727

FARMING & COMMERCIAL Dominion, Volume 8, Issue 2471, 26 May 1915, Page 10

FARMING & COMMERCIAL Dominion, Volume 8, Issue 2471, 26 May 1915, Page 10

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