FARMING AND COMMERCIAL

Manawatu Standard, Volume XLIX, Issue 245, 14 September 1929, Page 5

FARMING AND COMMERCIAL

HIGH PRODUCING HERDS. (BREED FROM THE BEST. (By “Ploughshare.”) That it is the collective yield of the cows in tho dairy herd that determines the cost of production is a well recognised fact and ' successful farmers arguo that no single factor has a more important bearing with reference to net rovenuo than a good all round high producing herd. Increased efficiency and quality of tho cows are of more importance and will show bettor profits [ than an increase in the number of cows of inferior quality in the herd. With a I- foundation of cows of proved merit to l build upon, and by breeding from tho best, it is within the range of all to ac- ! quire a good profitable herd in a few i years, but this can only bo done with any l degree of certainty by careful selection and mating of the parents. As disclosed by returns of herd testing associations, it is esti- < mated 200,000 of our dairy cows are milked at an actual loss, while an equal additional number do not show a profit over k working expenses. The present average | production of butter-fat for each cow in the Dominion is estimated at about 2001b5., | and past experience has shown that by con--5 centrating on definite lines of breeding and (feeding tho average production can be increased within a comparatively short time to 3001bs. and over. ' ~ PEDIGREE AND BUTTERFAT The only reliable method to achieve this desirable and profitable end is found by tho use of pedigree purebred bulls with an authentic butter-fat backing, through several generations, mated with cows which I have proved their ability under an authorised test.. It should bo remembered that pedigree alone does not guarantee that a sire will beget' heavy producing cows, and show ring points in themselves are not always to bo relied upon. The principal considerations in selecting a sire arc tho milk and fat production of his parents and these qualities must be backed by constitution. . Herd testing shows that a sire may cither increase or decrease the production of his progeny. That is why tho use of the bull with a butterfat. backing is urged strongly by all herd-testing associations. Tho higher the average production of the herd, the better tho bull needed to effect further improvement. That should be obvious to any one. Tho average quality bull will make an improvement on a poor quality herd, but tho same bull will bo useless on a better type herd. That is tho reason for tho success of those who have pinned their faith on a good well backed bull and whose herds have steadily improved season after season. SHOW RING PERFORMANCES. Breeders of pedigree stock in tho Dominion have developed numbers of very fine animals which have been highly spoken of by visiting judges, but there is an amount of misgiving amongst dairy farmers that show ring performance is not always backed by utdity and great disappointment has resulted when, after purchasing these artistocratic animals or their progeny, it is found that they are of no great value as parents for butter fat production. At a recent meeting of the Now Zealand Herd Testing Association it was stated that pedigree breeders were failing in their responsibilities in connection with the testing of pedigree females and tho threat was made that if matters wore not improved tho time would arrive when farmers would be forced to use bulls from high grade cows that had put up big records under test. DAIRY FARMERS’ CRITICISMS. Speaking to a remit dealing with this i matter at a meeting of the Herd Testing Association, Mr E. C. N. Robinson, Morrinsville, referred to the great influence of the sire on the production of his progeny. To mark tho calves by sires whoso dams had no records to credit, was in a senso defeating one of tho main objects of the movement. “I know that the pedigree breeders will object to this very strongly,” continued Mr Robertson, “but,” he contended, “we can afford to ignore, ■them. They have had their chance and have failed to take it.” (Applause), . • In seconding the, ,jnotiqnMr Ingram, Bombay, said 'Hiat ’ the good' high' grade bull with heavy butter-fat backing was a better proposition than the “scrub” pedigree bull. While agreeing that this was so, "Mr C. M. Hume said that no one would suggest

that any grade bull was better than a pedigree bull with good butterfat backing. “We want pedigree bulls,” he added, “but we must have them with butterfat backing.” (Hear! Hear!) The timo was fast coming, Mr Humo continued, when the associations would refuso to recognise, for calf marking purposes, any bulls that wero not from tested dams. TESTING PEDIGREE ANIMALS. “The position now is that the average dairy farmer is on the whole more progressive than tho average pedigree breedet,” declared Mr R. A, Candy, Ngarua, in speaking to tho motion. While the ordinary dairy farmers were testing every member of their herds, the pedigree breeders were testing only a selected few. As Mr A. M. Woir, president of the Ayrshire Association, had stated, the proper course for the pedigree breeders to pursue was to cut off tho tail end instead of pushing the few tops to the fore. This, of course, Mr Candy pointed out, could be done only by testing every member of the herd. The pedigree group herd test as had been suggested by the association was tho solution of the difficulty, but when the Government had taken over tho matter and instituted the official herd test, tho true purpose—tho testing of every femalo in the been -side-tracked. A suggestion that ho was advocating tho use of high grade bulls was repudiated by Mr Robinson who pointed out that dairy farmers should “stick to the pedigree bull providing the breeders- come into line.” NEW TESTING SCHEME WANTED. The kernel of the position as it appeared to tho president, Mr Dynes Fulton, was that many breeders were selling their bulls on tho reputation of a few outstanding females in the herd. Tho cost to the country of the/Semi-official test amounted to no small figure and dairy farmers had a right to expect better results from it. The number of cows under c.o.r. test was slipping back each year and it would appear that some other scheme would have to bo evolved. The basic principle of any such new test should bo the absolute insistence on the testing of every female in the herd so that farmers would know something of her progeny when it went on the market. The chairman concluded by impressing upon the meeting that tho idea even of sanctioning tho use of grade bulls was a retrograde step that was not likely to bo allowed by the federation. The Australian scheme which required that all or none were to be tested vvas recommended by Mr Hume for adoption in New Zealand in connection with pedigree testing. Mr W. L. Ranstead opined that a great deal had to bo left to the purchaser. It was not sound policy, ho pointed out, to buy a bull on butterfat backing only. Constitution was of vital importance while type also had to be considered.

Tho remit was oventually adopted in the following amended form:—“That the time is long overdue for insistence on butterfat backing of the sires of marked calves, and that the federation be asked to use its influence in getting all pedigree cows placed under test.”

“The proper thing to do is. to let tho federation take over all testing in New Zealand,” remarked Mr Candy as a parthian shot in a vigorous attack on tho c.o.r. and “official herd test” systems.

EARLY CALVING. It is now a recognised advantage to arrange calving dates so that the herd will come into profit during July and August. This arrangement has the advantage of giving tho cow a larger milking period as it is found easier to produce good yields in the early spring than in tho late autumn. The success of early calving naturally depends very largely on the way tho cow has been wintered and upon the supply of suitable food needed to bring her to her full milk flow in tho spring. Cows calving late do not hold to their milking period any longer than those coming in during July and as it is the long distance cow that shows the greatest profit early mating is desirable. About tho second or third week in October is considered the best time to begin service when tho cows should be taken separately to the bull enclosure and the date of service carefully recorded. , A good deal of trouble is sometimes experienced by cows returning several times after service and many reasons have been advanced for this trouble. A dairy farmer who claims to have overcome . the difficulty is of the opinion that a period of not less than 90 days should elapse between tho date of calving and service. By this interval the cow is enabled to regain her full body strength and her reproductive organs to become quite healthy and active, A recommendation from another experienced dairyman is never to put more than one cow with the bull at the same timo, and after taking one cow away don’t put another in for at least two hours. Should a cow miss the first timo, . don’t mate the second timo, but wash out with a solution of one tablcspoonful of baking soda to one gallon of water; then put to service at third time. FUTURE DAIRY COWS. EFFECT OF CALF MARKING. While the bobby calf business was performing an excellent service in eliminating the unfit before they had a chance of entering tho dairying industry, it was, according to Mr G. M. Humo, speaking at the annual meeting of conveners of the N.Z. Co-op. Herd Testing Association, a two edged sword that was at the same time removing many potential producers that tho industry could ill afford to lose. There was just the danger, ho continued, that with the wholesale slaughter of heifer calves the timo would come when there would be a serious shortage of young milking stock. In the heifer calf marking scheme, however, pointed out Mr Humo, tho industry was provided with a great safeguard that would ensure tho retention of the best calves. With these youngsters, by pedigree bulls from dams that had proved themselves as good producers, later going into tho herds of the country definite improvement must unquestionably follow. The great increase annually taking place in the number of heifer calves marked by tho N.Z. Co-op. Association is set out in the report submitted to tho annual mooting. The first year 641 calves wero marked. the second year 1541, and the third year 3339, while for the season just concluded over 5000 calves had imprinted upon them the association’s hall mark. Included in last year’s figures were thirty bull calves marked under the pedigree bull calf marking scheme. SKIN, HIDES AND TALLOW. The fortnightly sale of hides, skins and tallow was held at. Wellington yesterday. The usual bench of buyers were present. Hides: All grades of hides and calf sold up to full late rates. Kip and yearling id to 3s 8d higher. Ox, 331bs to 441b5., 6 3-4 d to 7 7-8 d: 451bs to 521b5., 7*d to 7 7-8 d; 531bs. to 591bs. 6 3-4 d to 7 7-8 d; 601bs. to 69 lbs., 7i<l to 81d; 701bs. and over, 7id to 8 5-Bd. Cow, 331bs. to 391b5., 6Jd to 7 7-8 d; 401bs to 481 bs, 6?d to 7 7-8 d; 491bs and over, 6.1 1 ! to 7 5-Bd. Kip, 25lbs to 321bs, 4d to 8d; 171bs to 241b5., 9d to 9RI. Yearlings, lllbs to 161 b, 8 5-8 dto 10„ L d. Calf, 91bs to lOlbs, 9d to lOicl; 61bs to 81bs, 12d to 14d; lib to 51bs, lOd to 13id. Dry sheepskins sold fully up to late rates. Halfbred, 12d to 13id ; fine crossbr.ed, 11 3-4 d to 131 d; medium crossbred, lOld to 12d; coarse crossbred, Bjd to lid; half wools, 7jd to lid; quarter wools, 7 3-4 dto 10jd; pelts, 81.(1 to lOd. Salted skins: 3d to 6d per skin lower. Half wools, 7s 6d to 7s 7d; three-quarter wools, 7s 6d to 9s 3d; full wools, 9s 6d to 10s 7d; extra large, 11s; lambs, 3s 9d to 6s. Tallow: At late rates. In casks, 295; in tins, etc., 20s to 27s 9d. Sundries: Cow tails, 13jd to 19d; horse hair, 14d to 18d. POTATOES DEAR IN SYDNEY. SYDNEY, Sept. 13. There is an acute shortage of potatoes in the city markets. New Up-to-Dates are selling at the rate of £4O per ton. The Sussex Street merchants assert that the public are being imposed upon by washed Tasmanian and Victorian tubers bought at £l9 and selling as new at £37 6s Bd.

Mr J. B. Wainscot, a member of the Government dairy produce grading staff, Auckland, has been transferred to Napier to take charge of the grading operations there.

COUNTRY’S PRODUCTION. GREAT INCREASE IN VALUE. A TEN YEARS’ RECORD. An interesting estimation of. the value of production in the Dominion for the year ended March 31, 1928, is given in the latest Abstract of Statistics:— Figures are given for eight principal classes of production: (1) Agriculture, (2) pastoral, (3) dairying, poultry and bees, (4) mining, (5) fisheries, (6) . forestry, (7) factories, and (8) builders, labourers and industrial workers, etc., the headings of which are self-explanatory. In estimating the total value of production for the above classes, deductions have had to be made from certain classes for items the inclusion of which would lead to duplication in the aggregate, and this has had the effect of under-estimat-ing the total production of certain of the classes. For instance, the gross value of group 1 (agricultural) was £32,908,390 in 1927-28, but as the major part of this value was utilised for the purpose of adding value to live stock the accretions in value of which are accounted for in the groups 2 and 3, the net value only (£9,345,937) has been taken into account in the aggregate. The basis of valuation in the compilation of the statistics is the wholesale or declared export value, or, where neither of these two are available, the cost at the factory. In the factory-production class, which includes* all those factories which do not come within the headings of any other group, the value shown is the value added to the materials by the process of manufacture. The totals shown in the following tables do not represent the whole value of production, no allowance being made for the production on small holdings of under one acre, kitchen fardens, etc., nor of home products, of which dressmaking, jam making, etc., would alone comprise something very considerable in the aggregate. ■ The figures for each class for 1927’2B afford the following comparison with those for 1918-19:

FARMING AND FACTORIES. The total value of production increased by £34,253,376, or 40 per cent, during the period covered by the above table, the greatest advance being made by Group 3 (£13,542,7.61), lowed in order by Group 7 (£J,/00,999), Group 8 (£7,223,449), and Group 2 (£2,364,607). A huge increase in the output of butter, cheese and condensed milk factories is mainly responsible for the position attained by dairying, poultry and bee products. The rise in the added value of factory products is more in the nature of a general all-round increase, although noteworthy rises are recorded by printing and publishing (£1,902,1.50), motor and cycling engineering L9bb,929) clothing manufacture (£668,025), general engineering (£487,313), lime crushing and burning £478,020), and biscuit and confectionery making (£472,525). Marked activity in the building industry accounted for the bulk of the increase in Group 8, .although. the production of labourers and industrial workers not included in the. factory-production figures also shows appreciable' increases. The rise of £2,364,607 in the pastoral group is wholly due to increased wool production and increases in the flocks of sheep. MORE PRODUCTION. The 1927-28 total of £121,053,912 is a record, being £1,385,210 in excess of the figure • for 1924-25 (£119,668,702), which was the previous highest, and exceeding that for 1926-27 by £7,442.337. Comparisons of the group totals with those for the previous year reveal some interestin'* results, the most noteworthy feature being the great increase in the farming groups 1-3. The total for these three groups in 1927-28 was £78,607,648, as compared with £68,426,384 in 1926-27. Pastoral products provided £7,047,502 of this increase; dairying, poultry and bees, £2,661,092; and agricultural products £472,670. Mining production was the only group to show an increase during the year, the production rising by £186,732. Each of the remaining four groups showed recessions in value, the greatest being forestry products (£1,091,680), closely followed by factory products (£1,028,310) with building production, etc. (£798,583) and fishery products (£7086) next in order. The relative volume of production for each of the last ten years is shown in the following table: Value of Production.

CANTERBURY MARKETS. Per Press Association. CHRISTCHURCH, Sept. 13. The potato market has .-<itered little since the mid-week report. Yesterday it dropped to £6 5s f.0.b., 5.1., for September deliveries, there being some business at that figure. However, to-day sellers were asking £6 10s, at which figure there was a little trading. Octobers, which vyere down to £6 10s. are now at £6 15s, with sellers scarce. The Katoa on Wednesday took a total of 3360 sacks from southern ports and the Kurow on Saturday is expected to take about 3000. There is little selling by farmers at present. For some months the possibility of oats being exported to Australia on account of the drought has been discussed and merchants have been in receipt of numerous inquiries. However, the reports of the rains banished the expectation, in addition to which the margin for export did not appear to bo present this week. Nevertheless, a shipment of 20 tons will be made by tho Waikouaiti to Sydney. Local prices are 3s 9d to 3s lOd f.0.b., 5.1., for A Gartons and 3s 8d for B’s. There is no change in tho local wheat market. Thop 00l price for milling is 6s 5d for September. A steady disposal is going on. Fowl wheat is worth 5s lid f.o.b. Tho small seeds market continues firm for most classes. White clover is worth 140 s to 150 s per cwt. for machine dressed or lOd to 12d to farmers. Ryegrass and Italian show no change and both are in very short supply. They are worth up to 7s and 6s f.0.b., 5.1., respectively. Cocksfoot has been sold at 13sd a lb. for machine dressed.

Dogstail has eased to 7d a lb., for dressed seed. English cablegrams indicate low values for dogstail and seed clover, and there is no likelihood of either of these products being "exported. MELBOURNE HIDES SALES. MELBOURNE, Sept. 13. At the hides sales the market was animated, and values firm in sellers’ favour..

FEILDING STOCK SALE. HIGH PRICES FOR FAT CATTLE. (Special to “Standard.”) FEILDING, Sept. 14. By far the best quality yarding of fat cattle that has been , seen in the Feilding yards for a long while past was on ottei, yesterday, and prices soared accordingly. For extra prime Shorthorn and Hereford heifers up to £l6 and £l6 5s was paid, while other pens of almost similar quality were priced just a few shillings below. Cows were also in improved quality and for supplies competition was keen with prices far above the average paid at Feilding. Store cattle, with the exception of good run cows, were quiet and tho demand for dairy stock was on a par with recent sales. An excess supply of fat sheep was penned, but the demand was fairly sound and top lines of hoggets showed a hardening tendency. Store sheep were mainly below average quality and met with a dull sale, the best “buy,” porhaps, being a lino of 199 4-tooth wethers, heavy woolled, and in good forward condition, at 31s. Detailed quotations are as follow: — Fat Sheep.-Hoggets: 17s, 19s, 20s 2d, 22s 2d, 255, 25s 6d, 26s 6d, 28s 6d, 28s 9d, 29s 3d, 32s 3d, 335, 34s Id to 35s 9d; ewes, 235, 265, 275, 28s 7d, 29s 3d, 30s lOd, 31s, 32s lOd, 33s 6d, 33s lOd, 34s 2d, 34s sd; wethers, 30s 6d, 32s Id, 34s lOd, 355, 35s 3d, 365. Store Sheep.—Ewe hoggets: 18s 9d, 235, 255, 30s, wether hoggets, 14s 9d, 20s, 245, 27s 4d; b.f. hoggets, 18s Id, 18s 7d, 20s Id, 20s 3d, 22s Id, 22s 4d; 4-tooth wethers, 27s 4d, 30s Id, 31s Id; 2-tooth wethers, 28s, 31s Id; ewes and lambs, 31s Id, 325; 38s Id, 38s 3d. • Dairy Stock. —Springing heifers: £7, £8 10s, £9 ss, £lO, £lO 15s, £ll ss, £l2 15s, £l3 ss, £l4; springing cows, £8 15s, £9 ss, £lO 15s, £ll ss, £ll 15s, £l2 10s, £l3, £ls. Store Cattle—Empty heifers: £4 17s 6d, £5, £5 17s 6d, £6; cows, vealers, £3 12s 6d, £5 17s 6d, £7 8s; yearling heifers, £3, £4, £4 17s 6d, £5 2s 6d, £5 15s; empty cows, £2 10s, £3 ss, £3 15s, £4 10s, £5 10s, £5 15s; weaner Hoi. steers, '£3 3s; m.n. steers, £4 Is, £5 16s, £lO, £lO 10s, m.a. yearling steers, £1 17s 6d, £3, £6, £7 10s. Fat Cattle.—Cows: £6 2s 6d, £7, £7 7s 6d, £7 10s, £B, £8 10s, £l2 10s, £l3 10s, £l3 15s, £l6; heifers, £6 10s, £9, £l2 ss, £ls 12s 6d, £l6, £l6 ss. AUCTIONEERS’ REPORTS. Dalgety and Co., Ltd., report having a fair yarding of both fat sheep and storo sheep and a good entry of dairy cattlt. There was particularly keen competition for fat sheep at advanced rates and store sheep and cattle also met with a good demand. Quotations: —Heavy fat hoggets, 345; fat owes, 30s lOd, 32s lOd, 33s 4d; fat maiden ewes, 34s 6d; heavy fat wethers, 395; fourtooth wethers, 31s 2d; light fat cows, £7 10s to £8; rough yearling . steers, £3 3s; empty cows, £2, £2 10s, £3 Bs, £4, £4 12s; dairy heifers, £9 10s, £ll, £ll 10s, £l2, £l2 10s, £l3s to £l4. Abraham and Williams, Ltd., report: — There was another heavy yarding of fat sheep and a small entry of stores. Fat sheep maintained last week’s rates and the demand for stores was slightly better. A particularly good quality yarding of fat cattle, mostly females, met with very keen competition. Good dairy stock and store cattle also sold freely. We quote:—Fat hoggets, 20s 4d, 22s Id, 255, 26s 6d, 28s 6d to 33s 6d; fat ewes, 26s 3d, 275, 29s 3d, 31s, 33s 6d, 33s lOd to 34s 2d; fat wethers, 34s Id to 35s 3d; store wethers, 28s to 30s Id; fat heifers, heavy, £l2 10s, £l3, £l3 10s, £l3 15s, £ls 2s'6d, £ls 5s to £l6; fat cows, £l2 10s, £l3 15s to £l6; light fat heifers, £6 10s to £9; light fat cows, £6, £7 2s 6d to £8 10s; 3-year P.A. steers, £lO 10s; 3 and 4year rough steers, £10; yearling Hereford steers, £7 10s; forward cows, £3 to £5 10s; store cows, 25s to £2 10s; bulls, Jersey, £6 to £6 10s; springing heifers, £7 10s, £B, £9 10s, £lO 10s to £l2; dairy cows, £7, £8 ss, £9 ss, £9 15s, £lO, £ll to £l3. LONDON’S MEAT SUPPLY. Tho New Zealand Meat Producers’ Board lias boon advisod by its London office that tho supplios of meat to tho London central markets during- the sexen months ended July) 1929, and comparisons with tho corresponding period, 1928, are as follow: — ~ ' Dif-

MONTHLY SHIPMENTS OF MEAT TO UNITED KINGDOM. The New Zealand Meat Producers Board is advised by cable from its London office that the shipments from Australia and South America to the United Kingdom during the month of August were as follow: —Australia: Carcases mutton, 36,357; carcases lamb, 104,880; quarters beef, 73,324. South America: Carcases mutton, 273,629; carcases lamb, 318,637; quarters beef, frozen, 4,950; chilled. 476,689. Included in the South American figures are 40,081 carcases of lamb, and 125,812 carcases of mutton, shipped from Patagonia. The shipments from New Zealand to tho United Kingdom for the same period were as follow: —New Zealand: Carcases mutton, 247,704; carcases lamb, 595,147; quarters beef, 871. FROZEN MEAT. “Market unchanged,” is the cable advice received from London by Dalgety and Coy., Ltd. EXCHANGE RATES. (British Official Wireless). RUGBY, Sept. 12. Foreign rates of exchange on September 12, as compared with par rates, are as fol-

BRADFORD MARKET. (Australian Press Association.) LONDON, Sept. 12. The Bradford tops market is stagnant, Merinos and fine crossbreds weak and low; crossbreds, unchanged. Quotations: 84’s, 35d; 60’s, 33J,d; 56’s, 28d; 50’s, 24id; 46’s, 22d; 40’s, 21d.

WELLINGTON STOCK EXCHANGE. I YESTERDAY’S BUSINESS AND ■ PRICES. The following sales were reported on the Wellington Stock Exchange yesterday:— £ s. d.

An outstanding feature of yesterday’s market was the sharp rise in New Zealand Breweries shares. It seems probable that some important event is pending, and that some speculators have secured inside information. On the other hand, it may be just a “bull” movement; whatever the cause, the rise in the shares is interesting. On Tuesday buyers offered £52 for Bank of New South Wales, but yesterday the bids were lowered to £sl 17s 6d. Government securities are in good demand with no declared sellers. Tho demand for bank shares has eased. Financial shares, on the other hand, were in good demand. There was very little business offering in the miscellaneous section. Yesterday’s buying and selling quotations were as under: —

SALES IN OTHER CENTRES. Per Press Association. AUCKLAND, Sept. 13. Sales. —Inscribed Stock, 1932, 5J[ per cent., £99 15s; New Zealand Breweries, debentures, £1 9s; Bank of New Zealand Insurance, £2 8s (three sales); Grey Valley Coal, £1 9s 6d, £1 9s sd; Auckland Gas, ord., £1 4s 7d; ditto, contributing, 18s 3d; Northern Steamship, contributing, 6s 9d; British Tobacco, £2 10s 3d; Farmers’ Trading, 9s 7d; New Zealand Farmers’ Fertiliser, £1 2s 7d; Robinson Ice Cream, £1 4s; Waihi, 13s 4d. Huddard Parker, 45s 6d; Lcyland O’Brien, 31s 6d; Grey Valley Coal, 29s 4d; Waihi Grand Junction, Is sd. CHRISTCHURCH, Sept. 13. Sales. —Now Zealand Government, 4£ per cent, bonds, 1930, £99 7s 6d; Australian Bank of Commerce, 35s lid; Commercial Bank of Australia, 30s (eight) ; Bank of Now South Wales, £52 (two); Union Bank of Australia, £ls; Now Zealand Refrigerating (10s paid), 6s 9d; Grey Valley Coal, 29s Id (three), 28s lOd; Staples Brewery 52s 4d; Beath and Co. (Is paid), 9s lOd, (two) ; British Tobacco (cum div.), 49s 9d; Henry Jones Co-op., ?3s lOd; Quill Morris, 15s 6d; Winding Creek (Is paid), Is lOd. Sales Reported.—Now Zealand Government, 4i per cent.-, inscribed, 1939, £IOO ss; Commercial Bank of Australia, 30s Id; Grey Valley Coal, 29s 3d (two) ; National Bank of Australasia (£lO paid), £l9 13s 6d; Quill Morris, 15s 6d; New Zealand Government, 4j per cent, bonds, 1930, £99 7s 6d; Mount Lyell, 45s 3d; Goldsbrough Mort, 46s 4d. DUNEDIN, Sept. 13. Sale. —New Zealand Refrigerating, cont., 6s 9d. Sales Reported.—South British Insurance, 66s 6d; National Bank of New Zealand, £6 18s; New Zealand Drugs (cum div.), 765; Grey Valley Coal, 29s 3d (two), 5i Inscribed Stock, 1936, £lOl 12s 6d (three). WELLINGTON PRODUCE MARKET. (By Telegraph—Special to “Standard.”) WELLINGTON, Sopt. 13. Potato prices haev dropped substantially and the presence of a large consignment line has made the market weaker. Dakotas have dropped at least 30s on the week, being £8 10s per ton; whites, £7 15s to £B. The market is short of Californian onions and further supplies are not duo for a fortnight. Prices remain at 16s 6d to 17s 6d per bag. The locals are of poor quality; best lines 11s per bag, other sorts down to 2s. Wheat is unchanged at 7s 4d to 7s 6d per bushel. Oats. —4s to 4s 6d. Pollard.—£lo 15s per ton. Bran. —£8 10s per ton. Maize. —6s 8d per bushel. Chaff. —£9 per ton.

DAIRY BOARD. MESSRS CORRIGAN AND lORNS RE-ELECTED. MR TIMPANY DEFEATED. Per Press Association. WELLINGTON, Sept. 13. Tlio elections for members of the Dairy Board resulted as follow: — Ward 5. —J. R. Corrigan, re-elected unopposed. Ward' 6.—W. A. lorns (Martinborougli) 595 j tonnage votes (elected); P. Davis (Hamua) 187 g tonnago votes. Ward 9. —J. Dunlop (Seaward Downs), 187 j tonnago votes (elected); T. M. Tirnpany (Woodland) 138£ tonnago votes. DAIRY PRODUCE. Dalgoty and Coy., Ltd., have received the following market advice from their head office, London, under date of the 12th instant: —Butter: Market quiet, but firm. Danish, 186 s to 188 s (184 s —); N.Z. finest salted, 175 s to 180 s (174 s to 178 s); Aus-

tralian finest unsalted, 168 s to 174 s (168 s to 1725); salted, 168 s to 174 s (168 s to 1725); g.a.q., 162 s to 166 s (160 s to 1645). Cheese: Market steadier. N.Z. cheese white, 91s to 92s (92s to 935); coloured, 92s to 93s (93s to 955); spot price for Canadian white, 92s to 93s (91s to 935) ; coloured, 93s to 94s (92s to 945); c.i.f. price for Canadian, 91s to 92s (925, —). Last week’s quotations are shown in parentheses. WHEAT AND OTHER PRODUCE. LONDON, Sept. 12. Wheat cargoes, inactive at 6d uarter higher. Parcels, 6d to Is dearer. Futures: London, September, October and November, 54s 3d a quarter: January, 55s Id. Liverpool, October, 9s lOd per contal; December, 10s 2Jd; March, 10s 7£d; May, 10s 10|d. Spot trade quiet. Australian ex ship, 51s. Flour.—Slow of sale. Australian ox store, 375. Oats neglected, 23s 6d to 265. Peas dull. Bluo New Zealand, 280 sto 300 s; Maples, Now Zealand, 62s 6d to 655, Beans, Now Zealand, 60s to 52s 6d,

1927-28. 1918-19. £ £ 1 Agricultural 9,315,937 8,153,668 2 Pastoral 40,965,949 38,601,342 3 Dairying, etc 28,325,762 14,783,001 4 Mining 3,515,779 3,5y3,916 5 Fisheries 524,514 3Ub,162 6 Forests 3,237,067 3,174,001 7 Factory 22,090,418 12,333,419 8 Builders, etc. 43,078,486 5,855,U37 Total £121,053,912 86,800,536

Year Total Per head. £ £ 1918-19 ... 86,800,536 74.41 1919-20 ... 94,622,635 78.35 1920-21 ... 100,757,354 80.46 1921-22 ■ ... 94,290,946 73.34 1922-23 ... 101,331,100 77.27 1923-24 ... 106,994,158 80.20 1924-25 ... 119,668,702 87.99 1925-20 ... 113,130,393 81.27 1926-27 ... 113,611,575 79.97 1927-28 ... 121,053,912 83.87

Seven months. .fer1929. 1928. ence. TonBeef & Veal— nage. nago. nage Britain & Ireland 24,307 25,005 698* Australia . 2,251 2,399 148* New Zealand 1,022 1,092 70* Canada 42 15 271 United States . 649 466 183+ Argentina 104,667 104,680 13* Uruguay, etc . 13,195 10,964 2,231+ Netherlands — — Other countries . — — Totals .146,133 144,621 1,512+ Britain & Ireland 17,310 17,419 109* Australia 7,610 3,373 4,237+ Now Zealand . 37,571 63,819 6,248* Canada — — United States 80 71 9+ Argentina . 19,112 14,986 4,126+ Uruguay,' etc. . . 1,596 3,060 1,464* Netherlands . — — Other countries 36 — 36+ Totals . 83,315 82,728 587+ Pork & Bacon — Britain & Ireland 16,337 18,283 1,946* Australia 67 21 46+ New Zealand . 1,415 499 916+ Canada 44 74 30* United States 607 813 206* Argentina . 461 350 111+ Uruguay, etc 4 12 8+ Netherlands 113,793 112,731 1,067+ Other countries 111,101 ||2,731 613* Totals . 23,834 24A97 663* flncrease. 1‘Bacon.

low : — Sept. 12. Par. Paris, francs to £1 123.895 124.21 New York, dollars to £1 4.842 4.86 2-3 Montreal, dollars to £1 ... 4.88 4.86 2-3 Brussels, belgas to £1 ... 34.87 35 Geneva, francs to £1 52.17 25.22* Amsterdam, florins to £1 12.095 12.10? Milan, lire to £1 92.705 92.46 Berlin, reichsmarks to £1 20.36 20.43 Stockholm, knr to £1 18.10 18.159 Copenhagen, knr. to £1 ... 18.21 18.159 Oslo, knr. to £1 18.205 18.159 Vienna, schillings to £1 34.425 34.58* Prague, knr. to £1 163J 24.02 Helsingfors, marks to £1 Madrid, pestas to £1 192J 193.23 32.875 25.22* Lisbon, escudos to £1 108.20 4.50 Athens, drachmas to £1 375 25.22* Bucharest, lei to £1 Rio de Janeiro, pence to 817 25.22* milreis Buenos Aires, pence to 5i 16 peso 47 7-32 47.62 Bombay, pence to rupee ... 1713-16 18 Shanghai, sterling to tael 27f — Hong-Kong, sterling to dol. 23g — Yokohama, pence to yen 23 9-32 24.58

Bank of New South Wales ... . . 52 0 0 Bank of New Zealand . . 3 3 3 New Zealand Breweries . 4 10 0 Movements based on yesterday’ compared with previous bids, under:— RISE. s prices, were as s. d. Goldsbrough Mort 0 3 Wellington Investment ,. 0 1 Christchurch Gas 0 1 Waipa Coal 0 1 New Zealand Breweries 1 9 ' FALL. Bank New South Wales 2 6 National Mortgage 0 6 Gisborne Gas 0 1 Gear Meat 0 3 P. and 0. deferred stock 0 6 Wilson’s Cement 0 3

Buyers. Sellers. N.Z. GOVT LOANS— £ «. d. £ s. d. 5i p.c. Ins. Stk., 1936 101 12 6 — 5i p.c. ditto, 1941 100 0 0 — 4i p.c. Ins. Stk., 1939 1938 100 0 0 4i p.c. Bonds, 1941,1939, 1938 100 0 0 — 5i p.c. ditto, 1933 101 7 6 — 5 5- p.c. ditto, 193b lUl lb 0 — DEBENTURES— Wellington Gas Co. ..100 5 9 — N.Z. Breweries (bonds) 1 9 3 — Dargarville Boro., p.c., 1966 99 10 0 — BANKSAustralian Bank of Commerce 1 15 6 1 16 3 Commercial of Aust. (ord.) — 1 10 3 Ditto (pref..) — 7 8 0 English, Scottish and Australian — 8 10 0 National of N.Z — 6 19 0 National of Australasia (£10) 19 13 6 — New South Wales .;. 61 17 6 52 5 0 New Zealand 3 3 0 — Ditto (long term) 1 8 6 — Union of Australia ... — 15 3 0 Ditto, Mel. Regr. ... 15 1 0 15 3 0 FINANCIAL— Equitable Bldg. Co. . 8 13 6 — Goldsbrough Mort ... 2 5 9 2 6 6 National Mortgage .... 4 6 0 — N.Z. Guarantee Corp. (ord.) 0 9 6 — Ditto (pref.) 1 1 6 — N.Z. Invest. Mtge and Deposit 0 10 0 — Well. Invest., T. & A. 0 11 0 — Well. Trust and Loan 7 3 6 . — Well. Deposit and Mortgage 0 11 0 — GASAuckland (paid) 1 4 5 — Christchurch 1 6 4 — Gisborne 0 13 3 — Wellington (ord.) — 1 13 6 — Ditto (pref.) 0 17 2 — INSURANCE— National — 0 16 10 MEAT PRESERVING — Gear 2 3 3 — N.Z. Refrigerat. (£1) — 0 14 7 Ditto (10s) — 0 0 11 Well. Meat Ex. (ord.) 0 7 0 0 8 6 TRANSPORT— Huddart-Parker (ord,). — 2 6 0 Ditto (pref.) *1 2 0 — . Unipn Steam (pref.) . 1 1 0 — P. and 0. def. stock 2 16 6 — WOOLLEN— Wellington (ord.) .... — 6 18 0 Ditto (pref.) — 7 0 0 COAL— Taupiri (ord.) — fl 10 0 Waipa 0 15 4 — Wcstport-Stockton (pref.) . — 0 4 7 TIMBER— Kauri — 0 18 6 BREWERIES— Crown 0 7 0 — New Zealand 4 9 0 4 10 6 Staples and Co — 2 12 6 Ward and Co 1 10 0 — MISCELLANEOUS— Burns, Philp and Co. 2 8 0 2 10 0 British Tobacco (Aust.) (ord.) — *2 10 b Ditto (pref.) — 1 4 0 Electro. Zinc (pref.) . 1 17 0 — Howard Smith (ord.) — *1 5 6 N.Z. Paper Mills — 1 0 8 Sharland and Co. (ord.) — 1 2 0 Taranaki Oil 0 4 6 — Wairarapa Farmers’ (ord.) — 0 6 8 Ditto (pref.) 0 15 6 — Wilson’s Cement 2 3 9 2 4 3 Wellington Cordage ... — 0 16 0 MINING— Mount Lyell — 2 5 6 Ohincmuri — 0 10 8 *Cum. div. . fCuin. rights.