FINANCE AND TRADE.

Wairarapa Daily Times, Volume XVI, Issue 4991, 2 April 1895, Page 2

FINANCE AND TRADE.

[SpeciallycompileJ for the 'Wairarnpa DallyTimus.'] FACIOEY BKSBLIS, At the half yearly meeting, of the Cheltenham (Rangitikei) Dairy Factory held on the 27th ult, the report presented showed that during the time stated, 2,761,686 lbs ot milk had been received, the output of butter being 101,098 lbs. Tho balance sheet showed that tho company had an overdraft at the Bank amounting to £2131 lis 3d, and an indebtedness otherwise of nearly. £903. The assets were shown to be land, plant and buildings, £3116; stock and butter, £593 2s (id; cash in baud and sundry debtors, £385 16s 6d, The sales of butter realised £3160 Is Bd, and the sum paid to milk suppliers was. £2355 16s. The total receipts were £333118s 4d, and the expenditure £3510 8s lid. This is the first set of figures frag »■_ dairy factory that I have come iBJJH and they arc taken from the JI Daily Times. The results aro unsavory, as tho expenditure for the half year exceeded the receipts by £175 10s 7d and the factory is in pawn to the extent, of £2131 lis 3d, these figures stand out prominently and strike one as being decidedly had. Analysing the figuros it will be seen that the sales of butter and stock in hand, represent a sum of £3,713 -is 2d,-this is equal to an averago of about 8 9-10 d per lb., and of this sum, 5 C-lOd went to the milk suppliers, leaving 3 3-10 d to cover other charges, which apparently has been insufficient, otherwise there would possibly have been a surplus, instead of a deficiency. The price paid to milk suppliers, worked out on the basis of the prices given ! above, is only about 2Jd pergallon, not a i very high rate, but possibly my calcula- , tions, based as thoy are upon secondhand figures, may be wide of the mark, t at any rate the results of thcGheltenham Dairy Factoiy show clearly, that a 1 " Tarpaulin muster" is inevitable, it the 1 factory is to continue operations.

WISDOM 01 AFIEBWABDB. The shareholders of the Bank of South Australia, are realising the truth of the Italian proverb, which says Hufjjwp " ditches are full ot the wisdom of miwards." Tliey have lost money and the Bank is in the clutches of the Keccivor whois mercilessly turning thescrow, and squeezing the sharcholdersforaorc.coin, Kow that they are in the ditcb they begin to blame the directors for the unpleasant position they are in. So long ns the directors paid dividends, whether fraudulently or otherwise, the shareholders never troubled thomselves, but now from the depths of the gultor of liabilities they moan and (jroan and threaten the dividend distributing directors with an action for fraud.

ThcßankofEnglandreturnsfortheweek show the total reserves of notes and bullion to be £29,242,030 as compared with £29,484,0 the previous week, and £23,112,000 lor the corresponding date of last year. According to tlw telegrams published in tho Etemng, Post the reserve is given as £29,484,000 which singularly enoughis thesamo aspublished on tho 23rd ult., while the New Zealand 2Vim gives the figures at £29,242,000. The latter is more likely to be as the chances against tho ing out exactly the same for two wmt must be very great. Perhaps our Metropolitan contemporary is a week beb'ad time.

The open market rato for three mouths' bills has realised 2s fid per cent,, and is now quoted at 1} por cent. Here again the Evening Post is out of date. Keeping tho metal standing and carelessness arc answerable for tho mistakes, STOCKS, British 2f per cent. Consols (Goschen's) are quoted at 104f, au advance of } during the week. All Colonial Government stocks,with two exception!) have advanced during the week. In 4 per cents., New Zealand show a substantial rise, being £1 higher than last ( week. The table of comparison is as 'follows:—

Mch. Meb. Move--21. 28. ment. N. Zealand 1929109} 110} l!ise2oi N.S. Wales 1933110| 111" liselOs Victoria, 1920102 102} Eisejs S. Australia 1936106* 107 Rj4&s Queensland, 192.1107 107 ™ v W.Australial934ll2, 112 -*

In tho 3} per cent, stooks tbero Is an all round advance of 10s, except in New South Wales stock, which has bounced up 255, and as long as money continues, cheap in London wc may expect to see Colonial stocks remain at a high altitude, The present quotations compare with tho previous week as follows:

Mch. Mch, Move--1 21. 28. ment. . 1 New Zealand 19© 101} 102 Rise 10s. 1 N.S. Wales 1924 101 102} Eise2sa i Victoria 1923 98! 99 HiselOs' S. Australia 1930 102? 103} EiselOs , Queensland 1924 100 ICD} EiselOs - Tasmania 1910 IC3 100} EiselOs FROZEN MEAT. The week's _ quotations show that i lamb has declined a farthing per lb« whilo Queensland beef has touched 5 3-lfid. The latest prices aro as follows: -New Zealand mutton, first quality! 1 3 5-8 d; second quality, 2}d| lamb, average'M. WOO;,, .... The tono of the wool market diuK tho present series of sales has been voty encouraging, and tho advanco announced on _ the opening night has boon fully maintained. There is every.prospeot of a further upward movement, for tie reason that Bradford tops have advanced M all round. Thero is still plenty of margin between the' wool prices of' to-day and those of two years ago, and a • further advance would be very welcome. There are a variety of causes operating to cause an improvement, tho American demand has been a marked feature of the past few months, while on. the. . Continent of Europo activity has been occasioned through one or two large contracts being let for army clothing, .heup. A Wellington consignment of fair quality sold at £l2los. A Wellington consignment of 100 bales was offered a few weeks a'go, an'd bought in at £l3; later on tho 'same to through the sainoprocci!s,' noffa'~parcel ■ has been sold at £l2 IOsV .The' inarketj has shown no disposition to oxceed this price aud sellers have had to " tackle. down "and sol}or pay'storage. ; ••' ■'■ nUTTEB.. In evidence given before tho Koodgij Products Adulteration Committee®* came'out tbat''e(i6d''New Zeklknd'-ariA ' AustahVbpttot was b'btainijiblq.at f 8d per lb, but tho witnojs was douoM about pis pnpe lasting/ - 4 ; '■ \ •,»■~.', . Peeot'Psnivk, ',"'