COMMERCIAL.

Gisborne Times, Volume XXXIII, Issue 3669, 2 November 1912, Page 2

COMMERCIAL.

KIA ORA DAIRY CO.

ANNUAL AIEETING

The annual meeting of the Kia Ora Co-operative Dairying Co., Ltd., was held at the Mata where Hall yesterday. Air J. A. Caesar presided and there was a large attendance. The annual report was as follows: - The directors regret that owing to 1 he very dry Spring, and consequent shmtage of feed, the quantity of milk' received was about 1,000,0001bs less than last year, although the number of suppliers had considerably increased. Notwithstanding this, and the increased cost of manufacture owing to shortage in supply of milk, shareholders were paid an average of IO.SOcI. per lb. for butter fat for the season, as against 10.16 d. average, paid last year. This amounts to about £1,260 or considerably more than the dividend and bonus of gd. then paid. The amount for appropriation, including balance brought forward from last year is £BOS Is 7d. Of this your directors recommend that £SOO ho written off for depreciation of machinery and plant, and the balance carried forward. The number of shareholders «m the register is 314. holding 6,067 shares ; being an increase of 33 shareholders and 128 shares since last balance. The amount of capital contributed during the year was only £224 0s 9d. It must be apparent that this is much too small an amount considering the capital involved in the business, and the amount paid out to -shareholders for butter fat. Your directors have therefore resolved that all supplying shareholders must take up their full quota of shares, in accordance with the Company’s Articles of Association. I’lie lease of the Matawhero factory, which expired on the 30th September, lias not been renewed, arrangements having been made to collect the cream from those formerly supplying at the creamery. It is calculated that a saving of £l5O a year will thus be effected. The directors who retire by rotation this year arc Messrs J. Candy, E. Knight and A. Lange. Messrs* Knight and Lange offer themselves for re-election. Air Candy does not seek re-election. Mr H. Al. Porter offers himself for re-election as auditor.

The report- was adopted. The retiring directors and auditor were re-elected with the exception of Air Candy, whose place wilt be filled by the directors at a meeting to be hold to-day. It was decided that next year’s report should contain the amount of butter manufactured and the cost of producing it. In reply to Air Gibberd, the chairman stated that it was not possible to pay a dividend of 2} r>er cent., as they were endeavoring to reduce their overdraft by £IOOO by a certain date. A vote of thanks was passed to Mr J. Candy, the returning director, for his valuable services. TER A WHITT TO BF. SOLD. The well-known Terawhiti Station— AlcMenamen’s—situated on the Coast, a very feu’ miles from Wellington, is to bo sold by public auction, as a going concern, on 27th November next. This property comprises, approximately, 6692 acres of sheep-raising and pastoral land, well watered, with homestead, farm buildings, landing places, wool and shearing sheds, and all farming accessories and machinery. The stock consists of some 6,000 Romney and half-bred sheep, and 2,240 lambs. There are . also thirty-four head of cattle, and seven saddle and draught horses, now depasturing on the property. Full particulars can be obtained—and arrangements for visiting tlio station made—upon application to Messrs Levin and Co., Ltd., or Alessrs Brown, Dean and Noavc, solicitors, 360 Lambton Quay, Wellington. Further details are also given in our advertising columns. SALE OF AIOTOR CARS. .Attention is directed to the sale today at the Horse Bazaar by Alessrs Williams and Kettle, Ltd., at 12.30 p.m., of Air Vincent Barker’s two Argyll motor cars. The cars are in

first-class order and can be purchased with every confidence. The terms are very easy. G. K. MILLER. Mr. Geo. Miller will offer for sale by publio auction to-day, at 11.30, about 40 sections, comprising from a half to sixteen acres, situated at Kaitaratahi. The terms are exceptionally easy, and several sections have already been disposed of privately. MR. VINCENT BARKER’S PROPERTY. "" Mr Vincent Barker's Kaiti property advertised for .sale to-dav at Barlow’s Garage, by Messrs Williams and Kettle, Ltd., has been withdrawn from sale, having been disposed of privately. His motor cars will bo offered at the Bazaar at 12.30, as originally advertised. At 2 p.m. to-day Messrs. Williams and Kettle, Ltd., will offer for sale by public' auction, at Barlow’s Garage, subdivisions of the well-known Newstead property at Makaraka. SALES OF LOCAL PROPERTIES. Mr C.' G. Bioore advises that during, the last two months lie has sold local properties, principally sheep country, to the value of £80,578, nearly all to Poverty Bay investors., There is a very good demand for sheep country of all areas, and though the tightness of the money market this year has made a very material difference in the volume of sales, the above figures are a very good indication of the confidence in the values of lacal properties. Mr Bioore has buyers waiting for anything showing good interest on the investment. GISBORNE WOOL SALES. The Gisborne Woolbro'kers’ Association held a sale of wool, skins, hides, and tallow yesterday. On the whole the sale was very satisfactory. Competition was fairly .brisk. The following buyers were present:— Messrs. W. H. Smith, Kearsley (Auckland), Warnock (Auckland), Levers (Butcher and Co., Napier), Dean (Pahiatua), Woods (Napier), and Tidswell. The total offerings were:— Common, Shelton and C 0.—44 bales and 12 bags wool, and 1230 skins. Dalgoty and Co., Ltd.—2o bales wool, 26 hides, 30 packages tallow, 1200 skins. Bennett - and Sherratt-—B7 hides, 2300 skins, 20 packages tallow, 18 bales wool. N.Z. Loan and Mercantile Agency Co., Ltd.—l 6 bales, 3 fudges and 41 bags wool, 1807 skins, 63 hides, and 22 packages tallowv Williams and Kettle, Ltd.—47 bales and 7 bags wool, 2470 skins, 142 hides, and 147 packages tallow. Messrs. Williams and Kettle’s sales were:—Crutchings 6d to 6 Ad, second crutchings 53d, fleece 8d to 83d, locks 4d to 4Jd, dead wool 7£d to Bd. Skins, with long wool, well saved, 7d to 7£d, medium skins 6d to 6|d, inferior skins 2d to sd, pelts 3d to 6d, hides 4£d to 6d, calf skins 6Ad to 7d. Common, Shelton and Co. obtained the following prices:—Good fleece 9ld to 93d, rough fleece 741 to 7Ad, crutcliings 6d to 63d, dead°wool 73d, Jocks 4:(d to 4kl, well-saved station skins 7d to 73d, medium skins 6-Ad to 7d, inferior skins 3kl to sd. The prices realised by the N.Z. Loan and Mercantile Agency Co. were:—Crutchings 6d to 6kl, crossbred fleece 7kl to 73d, pieces 4Ad to 53d, dead wool 7kl, Jambs 7d, good skins 63d to 7jd, hoggets’ do. 6d to 7d, broken do. 3kl, pelts lOd to Is 4d, dry hides 5 id, butchers’ hides (good) 6d, station hides 53d. Messrs Bennett and Sherratt quote as follows:—Crutchings 6}d, locks 4. id, pieces 63d, good station skins 7kl, heavy wool skins from old to 6.Jd, ordinary skins 7 Ad, good station hides 6d, ordinary l\ides 43d to o-kl, tallow 2ls.

Messrs. Dalgoty and Co. realised the following prices:—Sheepskins 33d to 7Ad, hides 5d to 6Jd, tallow 20s, wool (hales) 4kl to Bd, bags 03d to 7 Ad.

HAWKE’S BAY CLIP. NAPIER, Nov. 1. Owing to the unusual amount of rain which fell during the past month farmers have suffered considerable delay in shearing operations. The first wool side has already boon postponed, and as a result of the lateness of the annual clipping the early sheds will he unable to complete their shearing before the late sheds will be ready, and a difficulty in securing sufficient shearers is anticipated. Each shod will be a forced competitor with its neighbor for the best hands in order to get the fleece to the stores and ships, as near as possible, to the usual date of forwarding. PALMERSTON NORTH SHOW. FURTHER RESULTS. [PRESS ASSOCIATION TELEGRAM] PALMERSTON N., Nov. 1. To-day’s attendance at tho Palmerston North Show was estimated at just over 23,000. Lord Islington attended and witnessed a display by the Now Zealand cadets who recently returned from Canada. Several riders were unseated in the jumping competitions but none were hurt seriously. Additional results are:— Pony Leaping.—J. Cl. Mayo’s Prince Chap 1. Harness Horse. —F. Vosper’s Trixy (Cambridge) 1, Mrs C. iStubb's Steak (Hastings) 2. Lady’s and gentleman’s Hacks.—E. Short’s Scout and J. Bayfield's Pororangi 1, and the same owners’ Dinizulu and Fusilier 2. Lady Driver. —Miss Gill (Cambridge) 1, Miss Co wen (Pohangina) 2, Miss Jessie Campbell (Wanganui) 3. Lady Rider (side saddle). — Miss Campbell 1, Mrs Bikker (Parorangi) 2, Mrs 0. Nelson (Hastings) 3. Hunter’s Open Competition for championship and the O’Rouke Challenge Cup.—Wynn Brown’s Exchange (Cambridge) 1, F. Vesper’s Doctor (Cambridge) 2, H. Hassall’s Micky Free (Hastings) 3.

AYRSHIRE BREEDERS’ ASSOCIATION. PALMERSTON N., Nov. 1. At tlie annual meeting of tho Ayrshire Breeders’ Association the finances showed that tho Association was in a satisfactory condition. The Chairman said the collection of Ayrshires at the Palmerston Show was equal to almost anything that 'onld be shown anywhere in New Zealand. Mr F. W. Wilkie (Stratford) was_iee looted President, and Mr Paul Nielson, Palmerston, was re-elected u-en—-tary, Mr E. C. Benson having resigned.' A motion of condolence with the , family of the late Mr Cowan Armour, one of the pioneers of the breed in the Dominion, was passed. A motion was also passed approving of the semi-offi-cial testing as carried out- by the Agricultural Department.