FARMING & COMMERCIAL

Dominion, Volume 15, Issue 40, 10 November 1921, Page 8

FARMING & COMMERCIAL

,_4, NEWS AND NOTES

AUCTION ?2IIS FORTHCOMING FIXTURES. TODAY. 157 Lambton Quay, Wellington. 10 a.m. and 3 p.m.— Meat sale (Hodgkins, Carver) Kuku, Manakau, 12 noon.—Sale of pedigree stock (N.Z. Loan Co.). Upper Hutt Yards, 1 p.m.—Stock sale. 157 Lambton Quay. Wellington. 1.30 p.m.— Sale of unclaimed goods (Johnston and Co.). TOMORROW. 29 Kent Terrace. Wellington, 10.30 a.m.— Salo of furniture and groceries (Johnston and Co.). 141 Manners Street. Wellington. 1.30 p.m. —Poultry sale (Wheatley and Co.). 23 Dhilka Street, Berhampore. 2.30 p.m.— Property. sale (S. G. Nathan and Co.). 105 Customhouse Quay, Wellington. 2.30 n.m.—Property sale (S. G. Nathan and Co.). SATURDAY. Hardy Street, Nelson, 12 noon.—Sale of ships (N.Z. Loan Co.). WOOLLEN TRADES SIGNS OF GENERAL IMPROVEMENT SPINNERS WELL SUPPLIED WITH ORDERS London, November 8. According to the "Yorkshire Observer," there are distinct signs of a general improvement in the woollen textiles trade. The signs are only slight, but they are encouraging. Exhaustive inquiries show that while those sections of the trade concerned in the raw material in. some of the earlier processes of manufacture are busy, the manufacturing, dyeing, and finishing sections do not yet show much difference from the worst stage of the slump. The wool-sorting section is the most active. .The position regarding employment in the woollen trades is described as better than normal. In that section of tho wool combing business dealing with merinos, thetro io full employment, while epinners, particularly of botany qualities, are well supplied with orders. Some large manufacturing firms uro now running their mills at full time; others for five days a week, but, generally, for only three or four days. Tho register of unemployed in Bradford contains 19,000 names of workers, and it is likely to increase before the end of tho year, but it is improbable that it will again reach the June record of 58,000 unemployed woollen workers. —Aus.-N.Z. Cable Assn. y . ’ EXPORTS FROM AUSTRALIA EXTENSION OF EMBARGO. Melbourne, November 9. The wool control regulations, prohibiting tho export of wool from Australia at prices lower than the B.A.W.R.A. reserves, expired to-day. A deputation waited on Mr. 1 Hughes, Prime Minister, and asked for a six months’ extension of the embargo. He granted a fortnight, and promised to refer the matter to Cabinet. —Press Assn. BURNSIDE STOCK MARKET LARGE YARDTNGS AND LOWER' PRICES. Bv Telegranh—Freis Association. Dunedin, November 9At the Burnside maiket to-day there was an extra large yarding in most sections, but especially ini fat cattle, sheep, and lambs. Fat Cattle.—A total of 279 was penned. Prices opened firm at last week's rates, but ns the sale progressed values declined, and closed 10s. to 15s. per head below those ruling a week ago. This drop was most noticeable in medium and unfinished sorts. Prime ox beef was worth 28s. to 325. per 1001 b., medium quality 20s. to 235.. cow beef about 20s. Extra heavy-weight bullocks realised to .£l9 155., prime £l4 15s. to £l6 55., medium £l2 to .£l3 2s. 6<1., light kinds from £9 17s. Gd., best cows and heifers to £lO 155.; medium, £6 ss. to £ij 10s.; others from £5 12s. Cd. upwards. Fat Sheep.—44lB were penned. No outside! buyers were operating, and as. tho number sent forward was much in excess of butchers' requirements, prices showed an average drop of 2s. to 3s. per head. The drop was not so noticeable’ in heavy sheei>, medium and unfinished sorts sufferipg most. The prices for theto were in soml cases 4s. per l ead below last week’s level. Prime •'wether mutton was worth slightly over 3{d. per lb., and ewes slightly under 3d. Extra prime ’heavy-weight wethers brought from 275. to 395.; prime, 235. 9d. to 2Gs.; medium, 17s. to 205.; lighter kinds, 14s. upwards. A pen of shorn wethers realised 21s. 6d., and others sold at IGs. to 19s. Extra prime heavy-weight ewes realised 18s. to 325.; prime, 15s. 9(1. to 175.; medium sorts, 12s. to 14s. 3d.; lighter kinds, Us. upwards. f

Spring Lambs.—2l7 wcro penned, compared with 140 a week ago. The quality was very ordinary, and on the whole the sale was not very brisk. Prices showed a decline on last week to the extent of 2s. per head, prime' Jamb being worth up to 72d. per lb.,but (he bulk of it was bought, at 7d. Extra prime lambs to 265. 3d.; prime, 18s. to 20s. 3d.; medium, 14s. to IGs. Gd.; others, Ids. upwards.

Pigs.—There was a small yarding of fat pigs. It Was not sufficient for butchers’ requirements, prices advancing 20s. per head compared with the low 'values ruling last week. Best baconers realised, 7Jd. to Bd. per lb.; porkers, Bd. to 83d. Store pigs realised equal to last week’n rates’ Store Cattle.—About 125 head were yarded, mostly medium quality. There was a dragging sale. Three and four-year-old plain tussock bullocks made ,£1 ss. to Jit Ss.; 2J-year bullocks, in fair order, .£3 6s. THE FRUIT CROP CONDITIONS REVIEWED. The Director of the Horticulture Division of tho Department of Agriculture has received the, following reports from his officers regarding orchard and marketing conditions at the endl of October. North Auckland. —Apples: Above average sotting. Lemons: Moderate: Nectarines: Moderate. Peaches and Pears: Heavy. Plums (Japanese): Moderate. Strawberries: Good promise. Tomatoes: Hothouse showing promise of satisfactory crop. Apples and pears give promise of a heavy setting. Lemons and eour oranges are later in blossoming than last year. Auckland South.—Stone fruit not eo promising as before wet period. Strawberries improved, now being marketed; full,.supply. Outdoor tomatoes suffered rather severely during gales, but are now improving. Waikato/—Apples: Blossomed well; early varieties set well. Apricots rather poor; ripe rot very much, in evidence. Cherries: Only fair. Gooseberries: Prospects good. lemons: Trees lurking exceptionally well. Nectarines: Fruit has fallen considerably. Peaches: Late varieties set well; early only fair. Pears: Crops promise above the average; black spot showing. Plums: Very patchy. Plums (Japanese): About the average crop. Strawberries: Sunshine wanted; good crops in sight. Tomatoes: More being planted this season; very few out yet. Poverty Bay.—Apples: Good setting of most varieties; strong spring growth. Apricots: Developing well; brown rot exceptionally prevalent. Cherries: Fair crop. Gooseberries: Crops appeal- to be light. Lemons: Trees making good spring growth, blossoming freely. Neo-

tarines: Good crops coming forward; leaf curl bad where not controlled. Oranges: Fair crops have been realised. Peaches: Good crop coming forward despite prevalence of brown rot and leaf curl. Pears: Heavy crops developing; black spot in evidence. Plums: Good crops are in evidence throughout district. (Plume (Japanese): Usual heavy crops. Raspberries: Fair crop where grown. Strawberries: Blossom setting well. Tomatoes: Plants growing well; leaf spot prevalent. Walnuts: Usual fair crops. Hawke’s Bay.—Apples: A spell of wet woaflier during .blooming has resulted in a light to medium setting; though there is promise of q, fight average crop, it is somewhat early to form a reliable estimate, as some varieties are still falling. Apricots: A medium good crop. Cherries: Good average crop. Gooseberries: Good average crop. Nectarines and Peaches: Medium good crop, very patchy, some localities light. Pears: Louie, "Williams, Barry: Good average crop; Colo, light to medium; Nel is, very light; other varieties, average only. Plums: Very patchy; light average. Plums (Japanese): ’ Good average crop. Raspberries and, Logans: Good average crop. Tomatoes: Season’s planting above the average. Manawatu and Wairarapa.—Aipplesl: Early varieties at fruit set; others at tho calyx stage. Good setting. Apricots: Fruit set. well forward. Fair setting. Cherries: Well forward, fair setting. Gooseberries: On market; good crops; retailing Bd. per lb. Nectarines: Well, forwarfl; fair setting. Peaches: Well forward; good slotting,. Bears: Fruit set; good setting. Plums: Fruit set; heavy, setting. Raspberries: In bloom; good wops. Strawberries: Few grown. Tomatoes: Well forward in hot houses Walnuts: Few grown. A heavy gale of wind on the 24th damaged the fruit crops to a certain extent, especially small fruits (Manawatu district). The damage was greatly exaggerated by the local papers. > Nelson.—Apples: The blossom is over except on London Pippin, Senator, and a few other late blooming ( sorts. It is rather early yet to estimate the crop, but the indications are for a fair average. Apricots: The crop is making good progress, except for shot-hole fungus in some places. Cherries: A fairly heavy crop is setting. Peaches and. Nectarines: Tlie prospects generally are for a good moderate crop. Pears: There is a good fair setting of fruit.’ ■ Plums: A good setting generally. Strawberries: The beds are coming into bearing well. Tomatoes: Under glass—there is a good average setting of tho two bottom bunches; outside—most of the plants are hiow about established.

Nelson Central.—Apples: The setting is very irregular on Dunn’s Favourite, and thife variety bloomed lighter than last season. Gravenstein bloomed well but setting doubtful. Jonathan and Delicious light to good bloom. . Cox’s Orange only medium. Sturmers, Worcesters, Statesman, Washington, King David, generally heavy blooming. Black spot in abundance on foliage, but not yet on fruit, as far as discernible. Mildew very prevalent. Pears: Now well set, and some good crops promising Winter Nelis light, also Coles. Black spot noticeable on fruit at ,i very early stage, but kept well in check up to present. Strawberries: The weather has been too wot for good development of berries, making cultivation difficult. October established a record for rainfall.

Motueka. —Apples: Promising very well, although some varieties not setting owing to wet. .Apricots: Heavy in tome parts; practically nothing in other districts. Cherries: -Fair; considerable quantity of brown rotrlin places. Gooseberries: Good. Lemons: Good. Nectarines: Healthy; promise of good crop. Peaches: Fair; curl; some varieties not setting too well. Pears: Promise good average crop;. elean so far. Plums: Showing well "for good crop. Haspbprries: Coining along nicely; should be grtod. ’Strawberries: Healthy. Tomatoes-. New plantings looking well. Marlborough.—Apples: Good average crop. Apricots: Very heavy setting. Cherries: Heavy. Gooseberries: Heavy crop. Nectarines and Peaches: Very fair. Pears: flood average. Plums: Light to fair. Plums (Japanese): Heavy. Tomatoes: Indoor crops very fair, but mte Outdoor coming on well. Walnuts- Too early to forecast crops: powdery mildqw is very bad in somo places, otherwise growth is very free and healthy. Canterbury.—Apples: All varieties showing abundance of bloom. Apricots: A good sotting: brown rot is very prevalent. Cherries; A good setting. Gooseberries: Good crop. Nectarines: A good setting -fn most Idealities. Peaches: A good setting: green aphis and peach and silver blight and curl is bad in some localities. Pears: Too early to say what tho prospects will be; pear leaf, blister mite is prevalent. Plums: There has been a good setting in most localities. Plums (Japanese): A gOod setting in most localities; bladder plum is prevalent in some localities. ' Strawberries: In bloom. Tomatoes: Both hothouse and outdoor tomatoes are doing well. South Canterbury—Apples: Heavj- biossoming. Apricot* Cherries and GoosoTiorries.- Good Nectarines and Peaches: Good Pears- Fair. Plums: Mostly good. Plums (Japanese): Good; pocketing general. Strawberries: Promising well. Tomatoes: Hothouse coming on well; the past month has been exceptionally wet, and growers were unable to spray at the open cluster period. Although apples are blossoming heavily there are grave fears that the continual wet weather has prevented proper fertilising, and heavy falling may result; black spot, leaf curl, and all fungus diseases are in evidence, tho weather conditions being very much in their favour. Considerable damage has been done to apple blossoms, especially Delicious, in some parts of this district by being bitten or eaten during the pink stage. Bronze beetles are probably tho cause. Otago.—Apples: Good show of blossom; late frost did a considerable amount of damage to Scarlet Nonpariel at Ettrick; powdery mildew prevalent. Apricots: Fruit setting well with the exception of Early Bids. Cherries: Every prospect of a good yield. Gooseberries: Every prospect of a good yield. Nectarines and Poaches: Fruit setting well; prospects of a heavy crop. Pears: Fruit Retting well; prospects of a record crop, raspberries: Medium cron. Strawberries: Good show of blossom. Tomatoes: A. few from glasshouses being placed on local markets and realising good prices. JOHNSONVILLE FAT STOCK SALE Messrs. Wright, Stephenson, and Co., Ltd., and Abraham and Williams Ltd., in conjunction, report on their Johnsonville fat stock sale held yesterday, as follows:—Ws olfered stock in excess of advertised numbers, and although the quality throughout was good, prices showed a sharp decline from last week. This was influenced by several butchers having bought in the paddock, and also owing to the freezing prices for ths coming year having beer, announced. Anything plain, in both sheep and cattle, was hard to quit, and vendors must realise that it only pays to send down wellfinished stock. Cattle—Best bullocks, .£9. .£9 2s. Gd., .£9 55., .£9 15 s., to «£lO, medium .£B, -C8 55., .£8 10s., to .£8 155., light unfinished 416 10s.. .£7, £7 10s., to .£7 155.; best cows, £5 ss. to <£s 10s.; unfinished cows, .£.3 10s. to -£4 10.5.; vcalors, small, .£1 to £1 10s. Sheep.—Best shorn wethers, 15s. io 15s. fid., medium ditto 145., 1-1«. fid., to 14s. 9d., others 12s. fid., 12s. 9d., 13s. Id., to 13s. Gd.; host shorn owes, 10s. Gd. to 12s. 9d.; woolly ewes, 14s. 3d. to 155.;

woolly wethers, good 18s., small ditto 145.; best lambs, 15s. 9d., 16s , 16s. 6d., to I7s. Id., medium ditto Ils. to 14s. 3d., light ditto 10s., Ils., Its. 3d., Ils. 6d., to 12s. Pigs.—Porkars, -£2 7s. 6d. to -C2 10s. ABRAHAM & WILLIAMS, LTD. DIRECTORS’ ANNUAL REPORT. The directors of Abraham and Williams, Ltd., stock and station agents, in their report for the year ended September 30, state:—“ln view of the fact that for the last twelve months we have been passing through the most crucial crisis of t|ie world’s history, it is, in the opinion of your directors, a matter of congratulation that we are able to put before you such a satisfactory balancesheet. Whilst, in common with all concerns trading with fanners, this company has felt the effect of the sudden and heavy fall in values of the products of the Dominion and the general disorganisation of the world’s economic position, with the result that it is found necessary to pass our dividend for the year just finished, a close examination of our balance-sheet will show that we are in a strong financial position, and no anxiety need be felt as to the ability of the company to weather the storm. In the meantime strong steps have been taken to reduce expenditure, the beneficial results of which are now becoming apparent, and your directors see no reason why trading results in the future should not give equally good returns as in the past, with the assurance that the risks consequent ion the high values which have been ruling for the last few years will be more or less eliminated. But for the pressure of the heavy taxation which we have to meet, we should have had no difficulty in paying a dividend of 6 per cent, to our ordinary shareholders, many of whom are not entitled to pay any'income tax in view of their financial position. It will be noted that our surplus assets over direct liabilities now stand at 41336,246 12s. lid. The net return for the year, after allowance for all expenses of management, bad and doubtful debts, etc., amounts to .£ll2 Os. 4d„ to which must be added £5394 ss. Bd. carried forward from last year, making .£5506 65.. which sum it is proposed to carry forward. The preference dividend, nt rate of 6 per cent., for the year ended September 30, 1921, has been paid out of dividend equalisation reserve account. Securities held by the company are reported to have been specially examined by the auditors who are able to give complete assurance that they aro in first-class order. The trade expenses, rents, bad debts, depreciation, and other disbursements were -C48.878 11s. Id.; the earnings-cm-i--missions, interest, goods, etc—were .£48,990 Us. sd. The balance earned over from last year was .£5394 ss. Bd. Liabilities include Bank of New Zealand, ■£33.748; sundry creditors, 4140,447. The directors to retire are Messrs. R. E Beckett and Oscar Monrad, who, being eligible, offer themselves for reelection. The auditors. Messrs. Rutherfurd and Connell and Mr. P. L. Si mm, offer themselves for re-election. COMMERCIAL ITEMS ,

NATIONAL INSURA NOB COMPANY. The renort nnd flnancir-1 statement to be submitted to shareholders at the annual meeting of the National Insurance Company states that tbe net revenue for the year amounts to £238,868 ss. Id. After making full provision for losses outstanding. and transferring £7OOO to reinsurance reserve, there i« an underwriting surplus of £28.053 ss. lid. Interest, rents, etc., amount to £30.52.3 Us. 7d.» less income tax thereon £6159: nlus balance brought ' forward. £30.311 2s. 9d.; total. £83.219 os. 3d. Out of tbik an interim dividend was paid in May. 1921. of £I2.SCO. The divertors have added to the reserve fund £10.060, and placed to investment fluctuation account £lO.OOO. They now recommend the payment of a further dividend of one shilling ano threepence and a bonus of ninepenee ner share (making the total distribution for the vear 3s. 3d. per share), which vtto absorb £20.000, and to carry forward £30.729 os. 3d.: total £83,27.9 os. 3d. It will be necessary to elect two directors. Messrs. W. C. Burt and John Moloney retire by rotation, and offer themselves for reelection.

MOSGIEL WOOLLEN COMPANY. The annual report of the Mosgiel Woollen Factory Co.. Ltd., states that the operations of the company show results which the directors believe tho shareholders will consider satisfactory. The profit and loss account shows a balance (including the amount carried forward' of £18.902 os. 4d, after writing off £5OOO depreciation, £5OOO off new nlant installed, £5OO off war loans, adding £2500 to reserve, and providing a* sum for income tax payable during current year. Tho directors recommend th/.t a dividend of 8 per cent, be paid and a bonus of 3 per cent., which will absorb £9lBO 6s. 6d.. leaving £9721 13s. lOd. to b,e carried forward to profit and loss for current year The retiring director is Mr. R. W. Glendining, who is eligible and offers himself for re-election. CUSTOMS REVENUE.! ■ ' Customs revenue collected at the port of Wellington yesterday totalled £ll3B 4s. lid. WESTPORT COAL COMPANY DIVIDEND. By Telegraph.—Press Association. Dunedin, November 9. Tho directors of the Westport Coal Company recommend payment of a dividend and bonus for the half-year of eighteenpence per share, making, with the interim dividend, a total distribution of 2s. per share for the yeaY. STOCK EXCHANGE. By Telegraph—Press Association. Auckland, November 9. Sales.-Soldiers’ Inscribed Stock. £92 7s. 6d.; Bank of Now Zealand. 495.; New Zealand Insurance, 285.; South British Insurance, 355.; Auckland Gas. 25b. 6d.; Wilson’s Cemeni, 15b.; Waihi. 21s. 9d.

INVESTMENT SHVRES. Yesterday's for investment ehnres were as follow:— Buyers. Seller*. £ s. d. £ s. 4. 54 p.c. Disc. Stock. 1933 92 0 0 — 44 p.c. War Bonds. 1939 86 I 6 tl « <• War Bonds. 1939 86 7 6 Si P.O. War Bonds, 193o 10 0 54 r> c. Disc. Stock, 1930 —— Bank N.H. Wales — 36 0 Bank New /sealand — 2 2 TTnion Bank (riehte) ... 1 12 0 1 15 A-hraham and Williams (ord.) - 1 F.nuitable Building 7 0 0 Well.- Investment 0 9 0 Well. Trust, and Loan 5 0 0 —- Auckland Gas (paid) ... t 2 9 ■- Click. Gas — 5 13 0‘ Well. Gas Debenture 0 National Insurance — x e 0 Refrigerating (IOb.I 0 14 9 Gear Meat 1 11 0 TTnion steam (pref.) .... 0 IK Westport Coal ■ 1 R 0 T.ei'land-O’Brien Timber — 1 *1 3 Dental and Medical Sunw. — 1 z Kirkcaldie and Ktalns n 18 0 N.Z. Drug — R 15 6 bar! and and Co. (cuin.i 0 19 0 Wnirarnpa. Form or* (£5) — 5 o Q Wnirarapn Farmers (pref.) — 0 16 A \ Ward and Co 1 1 0