DAIRY PRODUCTION

Sun (Auckland), Volume III, Issue 789, 9 October 1929, Page 10

DAIRY PRODUCTION

SEASON SLIGHTLY LOWER

GOOD MARKETING PROSPECTS (From Our Resident Reporter) WELLINGTON, Today. There is a ten per cent, drop in production of dairy produce so far this season, according to a leading produce broker who has just concluded a tour of the country. •‘One dairy factory told me that they had 1.000 cows in a fortnight earlier i than last year, and 1,000 new cows,” .said this broker. “Yet they were four or five boxes a day behind last year’s output. This is due to the cold, late spring and arrested growth. Of course a few more fine days will make a wonderful difference. But we naturally cannot hope for production to rise at the rate of 8 or 10 per cent, every year. Last year showed an average return of about Is 5d to the factories, and the year before was about Is 42Ld to Is 45c1. If we touch those figures this year it looks as though we shall do well. “One hopeful sign for New Zealand at any rate is the fact that Australia is in much the same position. There is no exportable surplus at all in New South Wales, a small one in Victoria, and while Queensland is good most of that will be absorbed in supplying New South Wales.” DAIRY GRADING FIGURES DECREASE IN LAST TWO MONTHS 8.14 PER CENT. DOWN Press Association WELLINGTON, Today. The Dairy Division grading figures for the two months ended in September show an increase for butter of 2.5 per cent, at 9,041 tons and for cheese a decrease of 20.76 per cent, at 4,090 tons. Reduced to terms of butter-fat the equivalent gradings of dairy produce for the tw6 months show a decrease, of 8.14 per cent, over the corresponding period last season. TAUPO TOTARA TIMBER CO. NET PROFIT OF £11,396 A net profit of £11,396 is shown in j the annual report of the Taupo Totara j Timber Company for the year ended April [ 30, compared with £7,648 for the previ- j ous trading year. After payment of the j preference dividend of 7 per cent., ab- j sorbing £5,292, there remained £3,104 to j be added to the balance in the profit and ! losa account, which now amounts to £22,470. During the year the company lost its main sawmill at Mokai and some trucks and timber by fire. As the assets destroyed had been heavily written down there was a surplus of £5,950 of the insurances over book values, and this amount has been placed on a reserve account. A new mill, costing £13,000, is to be completed this month. The company contemplates a large outlay on renewal of bridges and parts of its railThe company’s paid-up capital is £293,564, comprising £118,457 in preference and £175,107 in ordinary shares. The latter received 6 per cent, in 192 S and 3 per cent, in 1027. Its only liabilities are £4,645 to sundry creditors and £2,100 in taxation reserve. Assets totalled £328,729, including properties. £76,208; buildings, £5,346; railway and extension, £101,572; plant, £20,615; stocks, £26,317: debtors, £27,953; and investments, £60,015. The last item shows an increase during the year cf £19,915. POTATO MARKET FIRM POSITION IN CANTERBURY Press Association CHRISTCHURCH, Tuesday. Potatoes continue to be firm, and it is not likely that there will be any weakening for some time. Recent sultry weather might have the effect of causing holders to sell for the reason that in conditions like those obtaining at present sprouting takes place and the tubers become lighter in weight. At present, however, farmers who are still in possession of potatoes are not at all inclined to do business j with them. A parcel was sold today on a basis of £ll a ton for Octobers and £lO 5s for prompts. The price to farmers on trucks at country stations is £ll. The Kurow on Saturday took from Lyttelton about 1,800 sacks. The Waipiata is due here at the end of the week, but it is not anticipated that a great deal will be shipped by her. : Wheat is quiet at present, and there is no demand of any consequence for it. The demand for oats is also quiet, prices being unchanged.

FOREIGN EXCHANGE RATES

British Official 'Wireless Reed. 11.50 a.m. RUGBY, Tuesday. The following rates on foreign exchanges are current today, compared with those of October 3 and par:—

AMERICAN WOOLGROWERS Australian and X.Z. Press Association CHICAGO, Monday. The National Woolgrowers’ Association at its next annual meeting will confirm the proposal to form a central sales corporation with a capital of £IOO,OOO, as outlined by the Federal Farm Board. The plans were completed today after representatives of about 85 per cent, of America’s wool and mohair growers had unanimously approved the proposal. It is expected that it will be effected before next year.

Oct. S Oct. 3 Montreal, dol. . 4.SIS 4.90S New York, dol. 4.86 6-32 4.S3 3-16 Par. 4.S66 4.866 Paris, fr 123.86} 123.925 124.21 Brussels, belga 34.86J 34. SS Geneva, fr. . . 25.17} Amsterdam, fl. 12.10 1-S 12.10 12.107 Rome, lire .. 92.89} 92.825 92.46 Brlin, r.m. . . 20.40 20.3 9 Stockholm, kr. . IS.12.} IS. 12 Oslo, kr 18.205 IS. 205 Copenhagen, kr. IS.21 IS.205 Vienna, seh. .. 34.37 34.54 54.58} Prague, kr. .. I64i 104 i 24.02 Helsingfors, m. issj Madrid, pes. . . ,12.77 1931 32.755 193.23 25.22} Lisbon, escu. .. 10Si 108.25 Athens, dr 375 375 Bukarest, lei. . SI7 817 R. de Jan., m. 5.5 1-8 5 7-8 B. Ayres, dol. . 47 1-8 47 7-32 47.577 Calcutta, rupee 17 13-16 17 27-32 Shanghai, tael . 262 268 T-Tong Kong, dol. 218 22 5-S Yokohama, ven. 23 17-32 23 If-32 Batavia, fl. .. 12.12 5-S 12.13:7 12.107