Business Gossip

Sun (Auckland), Volume 1, Issue 98, 16 July 1927, Page 10

Business Gossip

London Meat Market. —Under date July 14 the London office of Dalgety and Company cabled as follows:—The frozen meat market is quiet. General quotation unchanged. Good Start for Season. —Already this year for the fortnight ended July 13 returns of butter received into the Auckland Farmers’ Freezing Company's stores are over double the returns for the similar period of last year. The cheese returns also indicate a substantial increase. The figures are, with those for last year given in parentheses:—Butter. 8,800 boxes (4,216 boxes): cheese, 996 crates (778 crates). A High June Butterfat Payment. —The Levin Dairy %'ompanv will pay Is 7d a lb. for butterfat supplied during June. With a bonus of I4d a lb. for the year it makes the average payment so far Is 4~d, a figure that was hardly anticipated when the hold-up took place on the London market. Hinuera Co-operative Dairy Coy.’s Good Year. —Based on a conservative valuation of stocks upsold, the directors of the Hinuera Co-operative Dairy Company, Ltd., Matamata, indicate an average butter-fat payment for the year of over Is 3id. A report of the year’s operations will be presented to the annual meeting of shareholders and suppliers scheduled for August 12. The company's output of 431 tons exceeds that of last year by 85 tons.

Clevedon Navigation Co. Activities. —Operations of the Clevedon Navigation Company for the year show a loss of £127. No dividend can be declared. The company’s plant and steamer are reported to be in good order and well maintained. The retiring directors, the Hon. E. W. Alison and Mr. W. Couldrey, offer themselves for re-election. The principal items on the balance-shept are:—Capital account, £2,500; reserve fund, £750; steamers, plant and freehold property, £1,617; sundry debtors, £1,860.

London Wool Sales Active. —Under date July 14 the London house of Dalgety and Co., Ltd., cabled as follow: —‘‘The wool sales continue active, with good general competition. As compared with closing rates of last series, super greasy Merino fine is par to 5 per cent, higher; average to good combing greasy Merino, 5 per cent, higher; short and wasty greasy Merinos, unchanged; greasy crossbred fine, 5 per cent, higher; greasy crossbred medium and coarse, 5 per cent, higher advance in prices chiefly; light condition and bright scoured crossbred, 5 per cent .to 75 per cent, higher; slips halfbred lambs, 5 per cent, to 75 per cent, higher; other descriptions slips 5 per cent, higher.”

U.S.A. Wheat Shortage Predicted.— Leaders of the Chicago Grain Exchange state that American farmers may expect high prices for their wheat this year, and express the opinion that exporting countries may not be able to meet the demand for wheat, states an exchange. Constant rains, floods, and cold spring weather have retarded planting and cultivating: of the crops, and unless perfect weather is experienced from now until after threshing, it is feared that farmers in America may have very little wheat available for the markets. While farmers in certain territories may profit from higher prices, it is doubtful whether the wheatgrowing industry in the United States as a whole will benefit.

Tobacco Growing in Australia. —The first steps in ascertaining whether Western Australia will eventually produce tobacco leaf on a commercial basis and on a large scale have been taken at Manjimup. Empire production of tobacco leaf has increased tremendously in the last few years, although Australia is not included in figures which have been published in British trade journals. Canada provides a striking illustration, because whereas the quantity produced in 1922 was only 855.397 lb, the quantity produced last year was 4,892,3861 b. Rhodesia has made a similar striking advance in production, increasing the yield from 360,0001 b in 1922, to 2,323,0001 bin 1926. In round figures, British India jumped in tinsame period from a production of 4,000,0001 b to 12 million lb. These figures are of the highest importance, and in a territory as vast as that of Western Australia, and embracing so many variations of soil and climatic conditions, it will be surprising indeed if this State does not eventually make a valuable contribution to theEmpire’s tobacco requirements.