FARMING AND COMMERCIAL

Manawatu Standard, Volume XLIX, Issue 256, 27 September 1929, Page 5

FARMING AND COMMERCIAL

FARMING OPERATIONS.

AT MASSEY COLLEGE. “Intermittent 'wet weather has continued throughout the whole period consequently outside work has been carried on under difficulties. As the land became more sodden with moisture, grass growth naturally slowed down, although young pasture has been providing excellent grazing right throughout. Wind has again been conspicuous by its absence and dull grey weather predominant,” stated Mr W. J. McCulloch, farm manager, when reporting to the Massey Agricultural College Council, on Wednesday. The report continued:—Tire various flocks of sheep are in excellent condition and lambing has been in progress since early in August and is timed to finish in lesa than another week. The lambing may appear prolonged, but this was due to the fact that certain rams were more or less inactive for a time, as indicated by raddling, hence they were not taken out from the ewes as early as they would otherwise have been. I am of opinion that such a condition is more likely to occur where, as in our own case, rams have to be used singly with small lots of ewes for experimental reasons, and more especially where the ewes are only two-tooth. Although approximately some 500 lambs have been marked to date in the various mobs, it is impossible yet to indicate what the final percentage will be. I am afraid that one particular mob of 46 two-tooths known as “A” strain are likely to result in an extremely poor lambing. On the other hand, the remainder of the two-tooth ewes appear to be lambing fair, while the old ewes held over from the previous yqar are lambing very well. LAMBING PERCENTAGES. The following figures show at a glance the present state of the lambing in each flock to date (in this connection it should be noted that all ewes have been lambed in the terrace clay country):- M O < 2 G J aoa o o pr « cr c w op p- 1/5 g» 3 Q- o 3 O CL £ cr o P O PT - o’ O 0 CL % «*■

All rams have been shorn, with the exception of the two recently purchased by Dr. Dry. The hoggets are still making good progress. The bidlocks have cleaned up the sheep country well during the winter and it should be in good order during the coming season. The report then gave details of the ploughing, etc., and fencing carried out on parts of the farm. New Potatoes are already being dug by a grower at Bombay, near Pukekohe. The crop is a good one, the potatoes being even and of a good size. They are being marketed in A uckl an d.

PIG INDUSTRY. NEED FOR CO-OPERATION. The need for co-operation in the marketing of pig products and in the industry generally was laid before yesterday’s meeting of the executive of the Manawatu-Oroua Pig Breeders’ Association by Mr Sulser, of Palmerston North.

Mr Sulser stated that the problem of marketing bacon and pork was one which would have to be faced. At present, there was no co-operation and the producers suffered. It was wellknown, for instance, that thero was an irregularity of quality, which militated against the popularity of bacon. Uniformity was essential. Another point was the irregularity of supplies to the London market owing to the fact that exporting interests were not co-ordinated. An organisation, continued the speaker, was necessary and it should not deal only with marketing. Feeding and breeding were the foundations of the export trade and, if these were properly organised, marketing would be an easy matter. He was there to suggest that representatives of the association meet the Dairy Farmers’ Union at a round table conference to discuss the proposed organisation. The financing in the beginning might be solved, he continued, by a portion of the Government export subsidy being secured. After a couple of years, however, it would be self-supporting. An organisation such as he suggested would been lit not only the exporting interests but also the whole Dominion. Mr Sulser concluded his remarks by stressing his previous statement that to be fully efficient the organisation should deal with all aspects of the industry. Mr W. J. Crouchor stated, after Mr Sulser had retired, that he would like to know more about the scheme, which, in its present form, was very vague. He could not see much hope tor such a scheme, until all interests were unanimous in their desire to pull together for one end Messrs J. A. Russell, W. J. Croucher, C. G. C. Dernier and E. P. Neilsen were appointed to confer with the Dairy Farmers’ Union to discuss the marketing proposal.

LONDON WOOL SALES. Dalgety and Coy., Ltd., report under date London, 25th September, 1929: Wool sales continue; good attendance but competition irregular; better demand at lower level, but prices show no sign of recovery. As compared with closing rates of last series, greasy fine Merino, 10 per cent, lower; greasy Merino, other descriptions, 15 per cent, to 20 per cent, lower; scoured fine Merino, 10 per cent, to 15 per cent, lower; average and inferior scoured Merino, 20 per cent, lpwer except New Zealand; scoured Merino good, 7£ per cent, to 10 per cent, lower; greasy crossbred fine, 15 per cent, lower; medium, 7J per cent, to b.O per cent, lower. Sales close 4th October. tallow! 1325 casks offered; prices unchanged; 43 per cent. (670 casks) sold, states cable advice received from London by Dalgety and Coy., Ltd.

FREIGHTS' FOR DAIRY PRODUCE. REPLY TO COMPANY’S COMPLAINT. At yesterday’s meeting of the Dairy Board in Wellington a letter was received from the secretary of the Awahuri Dairy Company stating that his company had considered the question of coastal freight of dairy produce, and its incidence upon the general freight charged on dairy produce between New Zealand and Great Britain. The following resolution liad been carried: —“That in the opinion of this company, the saddling of Wellington shippers with a portion of the coastal freight on produce exported from Wanganui and Patea is unfair to those shippers, and that the Dairy Board go into the matter with a view to having the burdens removed.” In the discussion by the board it was stated that the coastal freight on produce taken to Wellington from Wanganui, Patea and other ports was paid by the shipping companies themselves, to facilitate the concentration •of the produce, and so avoid in some part the excess of calls at coastal ports. This practice had no whatever upon the freight rate obtaining between main ports, New Zealand and Britain, and the abandonment of the practice would not vary in the slightest degree on that score the rate charged by the shipping companies. On this point the shipping companies had made their position plain, and the board felt that to be the case. At the same time the letter of the Awahuri Dairy Company was referred by the shipping committee for consideration in future negotiations with the shipping companies.

DAIRY PRODUCE. The New Zealand Loan and Mercantile Agency Coy., Ltd., have received the following cable advice from their London office under date 25th inst: Butter: N.Z. choicest salted, 182 s and 184 s per cwt. Cheese: White, 93s to 94s per cwt. Market quiet. MILKING SHORTHORN ASSOCIATION. MANAWATU-TARANAKI BREEDERS. The executive of the WellingtonTaranaki branch of the New Zealand Milking Shorthorn Cattle Breeders’ Association met in Palmerston North yesterday, Mr H. Bond (Rangiotu) presiding. Also present were Messrs. R. V. Brown (Weraroa), H. Trimble (Taranaki), J. H. Mason (Feilding), J. Hearsey (Longburn) and Messrs. Conlan Bros. (Oroua Downs). Mr J. Grant, of Woodville, one of the founders of the association, was .welcomed to the meeting. In returning thanks, Mr Grant referred to the splendid type of Milking Shorthorns he liad seen around the district. He congratulated the association on ’he progress made and on the good records obtained. Mr Trimble raised the question of a subsidy to agricultural clubs for boys and girls attending the primary schools for organising competitions tor pedigree stock. The various breeds were supporting the scheme in Taranaki and he thought the Milking Shorthorn Association should also come in. The proposal was considered an excellent one and Mr Trimble was deputed to offer a guinea prize on behalf of tho branch lor competition for Milking Shorthorns. Reference was made by Mr Bond to the keen demand for Milking Shorthorn bulls. He said that several of the breeders belonging to the branch had disposed of all they had to spare at good prices. The allocation of show prizes was decided upon and the sum of 25 guineas was divided between eleven A. and P. associations. , The general council of the association advised that the half-yearly general meeting would be held at Palmerston North in November during show week. The matter of entertaining visiting members was left in the hands of Messrs Bond, Hearsey, Brown and Mason. , , Eulogistic references were made by the chairman to the outstanding success Messrs Conlan Bros, had had with the breed, which had largely been due to tho excellent management of good stock. These members had done a great deal to uphold the standard of the breed in this district and their record for New Zealand for herd testing had shown what Milking Shorthorns could do. He had great pleasure in personally conveying the congratulations of tho branch, as well as of the council of the association, on tho splendid results achieved. Mr Conlan, in returning thanks, stated that the actual record was even better than was published, as an error of 2001bs..had been made when tho results were first published. He and his brothers had every hope ot boating last year’s record, and they were very well satisfied with the retui ns from the Milking Shorthorns m their herd.

STOCK MARKET. Dalgety and Co., Ltd., report having a moderate entry of stock at their Mancaweka sale on Thursday. Quotations : Fat ewes, 27s 3d; yearling heifers, £3, £4, £5 Is; dairy cows, £7; fat cows, £7 15s; crossbred heifers rw P.A. bull £7; P.A. cross cows r V P.A. bull, £11; line of 53 Here, cows r.w. P.A. bulls realised £ll. Abraham and Williams,. Ltd., report as under on the clearing sale held on behalf of Mr R. Ross, Awahuri, Feilding Road:—There was a good attendance of the public and right throughout the sale the bidding was spirited. The dairy cows were well sought after and the herd realised an average of £l3 9s. Implements and sundries also sold particularly well and we can report a satisfactory clearing sale. Tho following were the prices realised:—Dairy cows: £9, £lO, £l2 6s, £l3 10s, £l4 10s, £ls 15s, £l6 10s, £l7. £l7 5s to £18; yearling Jersey heifers, to £6; heifer calves to £1 13s; yearling Jersey bull: £7 10s; mare, £10; set discs, £6; mower, £l4 10s; hay rake, £3 10s; 1 S.F. plough, £4 10s; spring cart, £8; separator, £4.

AUSTRALIAN PRODUCE PRICES. SYDNEY. Sept. 26. Wheat.—At country stations, ss; ex trucks, Sydney 5s 7d. Flour.—£l3 10s. Pollard and Bran. —£8. Potatoes.— Tasmanian, £2O to £24; Victorian, £2O 10s. Onions.—£22 to £24 per ton. Oats.—White 4s; Algerian, 4a Bd. Maize.—ss 9d. ADELAIDE, Sept. 26. Wheat.—4s lid per bushel. Flour.— £l2 2s 6d per ton. Bran. —£6 15s per ton. Pollard.—£7 7s per ton. Oats.— Algerian, 3s 4d per bushel. HIDES MARKET. MELBOURNE, Sept. 26. Hides.—The market is irregular. Values generally are §d to id lower, excepting stouts.

FARMERS’ UNION. WELLINGTON PROVINCIAL EXECUTIVE. The Wellington provincial executive of the Farmers’ Union met at laihape on Wednesday, Mr K. W. Dalrymple (president) presiding. Also present were Messrs D. Scott, L. Hammond, D. L. Younger, J. Cornfoot, A. Howard, A. Anion, J. H. Mason, L. McLean, A. Campbell, J. Lillburn, J. G. Goldfinch, A. Fannin and members'of the Taihape branch. A letter was received from tho Meat Board conveying information as to complaints from London regarding the fishy taint in bacon and pointing out the seriousness of the position to the pork and bacon export industry. The meeting felt that the trouble was possibly due to the feeding of artificial foodstuffs, particularly those containing fish. It was agreed to request the Agriculture Department to investigate the position immediately. The secretary reported that he had written to the Meat Board asking what steps it had taken to investigate the trouble in New Zealand. So far a reply had not been received.

The Ohakune branch wrote disagreeing with the attitude of the executive on the taxation proposals and claimed that its expressed views did not represent the feelings of the majority of members of the union. The letter further pointed out that the Dominion president was taking a wider view of the issues and should be accorded greater support by the executive. The secretary read a reply sent to the branch, in which it was pointed out that the fact that the Government had altered its Budget proposals did, when it protested, represent the views of the majority. Letters were received from the Feilding, Marton and Taihape branches protesting against the taxation proposals. The Feilding branch also sent a resolution protesting against the views of Mr Polsen and tho North Taranaki executive wrote upholding the attitude of the union’s president. During tho course of the discussion Mr Goldfinch said that the Ohakune branch felt that the views of the sinhll farmer were being overlooked by the executive. This branch considered that if the big farmer escaped taxation then the small farmer would have to pay. He claimed that only a small percentage of the farmers would be affected and that farmers could not expect equitable land 'taxation while the present valuations existed. A resolution endorsing the reply to the Ohakune branch and also endorsing the AVellingtou resolutions was carried. The meeting went into committee to discuss Mr Polsen’s position. A resolution was passed that a rule should be established that the Dominion president should automatically vacate that office on becoming a member of Parliament.

A letter was received from the Dominion president expressing his views on the proposed Land Laws Amendment Bill and, on the motion of Mr Campbell, seconded by Mr Scott, it was agreed to support Mr Poison’s criticisims. 'llie meeting particularly urged the need for a board of practical men to deal with land settlement and that there should be very definite provision for helping land the development of which had been arrested. The Wool Brokers’ Association wrote stating that it was impossible to alter the date fixed for the Wanganui wool sales owing to the difficulty of meeting the wishes of buyers in the matter of travelling. A letter was also received from the Taihape branch protesting against the dates allocated as being unsuitable for the needs of the district serving the port of Wanganui. It was agreed to leave the matter in the hands of the president. Alternative itineraries for the forthcoming visit to New Zealand of British and South African farmers in February and March next were received from Dominion headquarters for suggestions. It was decided to recommend that the party be split into two to assist tho reception at the different places of interest. The president said that he had been listening-in to the political speeches of the leaders of the parties in connection with the forthcoming Federal elections, and it had occurred to him that tho Government might well allow the leaders of Now Zealand political parties to broadcast their speeches at election time. Very often a great many people were unable to obtain a proper conception of a party leader’s speech and through listening to the speeches of Messrs Bruce and Hughes lie had been able to obtain a very clear understanding of the position. On the motion of Mr Dalrymple. seconded by Mr Scott, it was agreed to make representations on the lines suggested. Mr Dalrymple criticised the proposal of the Fellmongers’ Association for an export duty of )d a lb. on all woolled sheep skins and on unscoured wool. It simply meant that the farmer would have to pay the duty and the effect would be that he would receive less than the market value for the goods. It was unanimously agreed to protest against the proposals. It was agreed to support the Daylight Saving Bill, provided that tho half hour was the maximum to be permitted.

WESTFIELD MARKET.

Per Press Association. AUCKLAND. Sept. 25

At Westfield beef was penned in average numbers and there was a steady demand with values on a par with last report. Extra choice ox sold to £2 4s per 1001 b; choice and prime £2 to £2 3s; ordinary and plain, £1 17s to £1 18s; prime heifer and young cow beef £1 19s to £2 2s; heavy prune steers £l6 to £l7 17s 6d; medium prime £l4 10s to £ls 17s 6d; light prime £l3 to £l4 7s 6d; small and unfinished £lO 17s 6d to £l2 17s 6d; extra heavy prime cows and hoiters £l3 to £l4 10s; heavy prime £ll 15s to £l2 17s 6d; medium £lO to £ll 12s 6d; light £8 10s to £9 17s 6d; other cows £6 to £8 ss. Sheep were yarded in large numbers. There was a falling-off in the demand, and values were easier. Extra heavy prime wethers made £2 Is to £2 3s 6d; heavy prime £1 17s 6d to £1 19s 9d; medium light £1 12s 9d to £1 17s 3d; small and unfinished £1 is to £1 11s 6d; heavy prime ewes £1 10s to £1 13s; medium and light £1 4s to £1 9s; inferiorly fatted ewes 12s 6d upwards; prime hoggets £1 8s 6d to £1 12s 6d; unfinished hoggets £1 5s to £1 8s 3d. Spring lambs in small numbers sold readily at improved rates, bringing £1 6s to £1 12s 6d. There was an average yarding ot calves, which sold at values on a par with last week’s quotations. Runners made £5 10s to £7 13s; heavy vealers £5 to £6 12s; medium £4 to £4 13s; light £3 6s to £3 16s; smaller £2 6s to £3 3s; small and fresh dropped 7s to £2 4s; rough calves £1 10s to £2 ss; late calves were easier in values. Pigs were penned in average numbers. Competition was keener and values firmed on last week’s quotations. Choppers made £2 to £3 16s; heavy and medium baconers £4 2s to £4 19s: light baconers and heavy porkers £3 6s to £4; medium porkers and light porkers £2 6s to £3 3s; small and unfinished porkers £1 16s to £2.45. Store pigs were penned in average numbers. Values were firrii at late quotations. Large stores £1 14s to £2 4s; slips £1 5s to £1 l'2s; woaners 10s to £1 4s.

WELLINGTON STOCK EXCHANGE. YESTERDAY’S BUSINESS AND PRICES. Yesterday gilt-edged securities were again very firm with no sellers, but bank shares were quiet. Bank of New South Wales were in demand at £sl 8s 6d, while at Auckland a sale was made yesterday at £sl 7s 6d. Union Bank shares had a buyer at £ls eight days ago, and the bid yesterday was £l4 16s 6d, a drop of 3s 6d. Shares on the Melbourne register were bid 6d more. There was a bid of 7s 3d for National Timber on Wednesday and yesterday the bid was raised by 2s 4d to 9s 7d. It is difficult to understand the reason for this sharp upward move. Morally the tendency is for the demand to slacken, apparently in sympathy with Melbourne, Sydney and London. If the Bank of England discount rate is advanced the dullness will be intensified. Movements based on yesterday’s buying prices on the Wellington Stock Exchange, compared with previous bids, were as under:— RISE.

8. d. Bank of New South Wales 1 0 National Timber 2 4 e FALL. Union Bank 3 6 Wellington Deposit 0 l Elecytrolytic Zinc (pref.) 0 3 Bank of N.Z. (long term) 0 3 * The buying and selling _ quotations at the final call on the Wellington Stock Exchange yesterday wore:— Buyers. Sellers.

ANNUAL JERSEY SALE. FIXTURE AT CLAUDELANDS. A big crowd saw keen competition jat tho seventh annual National Jersey Show, and sale at Claudelands, Hamilton, this week, buyers being present from all over the North Island. The offering comprised 93 sound Jersey bulls, two-year and over, and 186 yeaning bulls. The grand-champion-ship of the show was awarded to Almadale Golden Ruler, belonging to Mr W. H. Miers, of Rototuna, sqd rereserve champion to Mr C. G. C. Dermer’s Waipiko Conqueror. Other awards were: Two-year-olds.—C. G. C. Dermer’s Waipiko Conqueror 1, Griffiths Bros.’ Kimberley Gay Lad 2, Banks and Sons’ Woodstock Somers 3. Yearling Bull. —H. Salway’s Lord Chancellor 1, H. Salway’s Huia Broth Nobility 2, J. S. James’s Silverley’s Volunteer 3. Group of Bulls. —H. Salway 1, Griffiths Bros. 2. W. T. Luxton 3, J. S. Jones 4. Tiireo-vear-olds. —W. H. Miors’s Almadale Golden Ruler 1, H. W. Lebailly’s Jury’s Golden Glory 2, H. Moreland’s Hawkesbury Gale 3, R. L. Horn’s Kuku Owlee 4.

J E DGES’ COMMENTS. Commenting upon the merits of the grand champion, one of the judges, Mr F. W. Cornwall, said that it was out on its own and was the lengthy typo so desirable in the breed. It was a beautiful skinned animal and an acquisition to any herd. The reserve champion was also an outstanding type, he added. The two-year-olds, in the opinion of Mr Cornwall, were quite a fair lot although somewliat inclined to be rather heavy in the bone. Mr Dermer’s exhibit was outstanding. The yearlings constituted a fine class. The winning bull possessed more character and constitution than the others and it was this that influenced his decision.

Commenting on the group class Mr Missen was of opinion that tho animals shown were worthy of special comment, although it was rather difficult to secure uniformity in the various groups showing. Tho aged bull class was exceptionally good he added. The top price on the first day was 216 guineas paid by Mr J. Milligan, of Hastings, for a yearling bull, the property of Mr H. Salway, Bell Block, who sold three other outstanding yearling bulls, the average price for the four being 171 J guineas. Up to mid-day yesterday, the second day of the sale, no local breeders had purchased animals, the buyers being largely from the Waikato and Auckland districts.

ANIMAL HUSBANDRY. MASSEY COLLEGE HERDS. REPORT ON MANAGEMENT. In a report presented to tlio Massey Agricultural Collego Council, on Wednesday, Professor W. Riddet, Dean of Animal Husbandry at the institution, stated that there was practically no growth of pasture till the third week of August, with the result that the milking herd had to rely mainly on hay. roots and silage. Hand feeding of cows giving over 301bs of milk per day was resorted to for a fortnight, in order to prevent the newly calved cows from losing condition, and to sustain the production of those in milk since March-April. Results showed that this additional feed was justified. Towards the end of the month, the paddocks dressed with a nitrogenous manure, in .addition to superphosphate, began to show good growth, which carried the herd till in the early part of September, and the pastures treated in the ordinary way started to show some vigour. Since that time there has been more marked growth of feed, but with variable weather and more cows coming into profit, there has just been enough to keep the milking herd going. Hay has been fed continuously along with mangels and silage. The former have now been used up and there is only a small quantity of the latter remaining. There has been an ample supply of hay; part of this will be carried over till next year and has been taken into consideration in framing next winter’s feed requirements. Within the past two weeks, the luscious growth of clover in certain paddocks recently sown down has occasioned considerable trouble with “hoven.” It is rather unusual to experience this so early in the season. MILKING HERD.

Fifty-two cows and heifers have come into profit since the third week of July, bringing the. milking herd up to 72 ccws, which includes 17 autumn calvers and three strippers. With the exception of six animals, all are in thenfirst and second lactations. The average production of the whole herd at present is fully 2J gallons testing 4.1 per cent, butterfat. The present incle-

ment weather is undoubtedly affecting production adversely.

DRY STOCK.

There are five second calvers and fourteen heifers due to come into profit by the end of October. Three additional cows are due by the end of the year. The yearling heifers have come through the winter remarkably well, considering that they were affected by the -late autumn and early winter with “hoose,” which accounted for considerable loss locally. Nineteen spring-born heifer calves and one bull calf are being reared. Apart from the trouble experienced with “hoven,” the health of the stock has been very good. • PIG RAISING.

All of the brood sows have now farrowed. 160 young pigs have been produced from 20 sows. The litters have been weighed at 4,5, 6,7, 8 and 9 weeks old in continuation of last year’s pig recording work, to ascertain the extent of variation in litter weights of sows at four and eight -weeks old. Records have been taken at 5,6 j 7 and 9 weeks to determine whether it is safe to assume that the daily rate of growth is regular from the time that pigs are first hand fed. The young pigs are making satisfactory progress. It 's impossible to carry, with the feed available, the whole number through to pork or bacon weights, hence a selection is being made for feeding experiments and the remainder will be sold as weaners. The feeding experiment carried out on three lots of bacon pigs (6 per lot) with (a) whey paste alone, (b) whey paste and meal, (c) meal alone, with a view to determining the food value of whey paste, has just finished and the pigs have been slaughtered. Three pigs specially fed on factory whey on behalf of the Department of Scientific and Industrial Research have also been slaughtered. An analysis of the fat of all the pigs is being made by an officer of the department in order to correlate the type of feed with quality of bacon. In the course of these experiments, it was shown that the pigs made very poor increase in weight for the food consumed during the cold winter weather, due in all probability largely to the lack of warm housing. For example, it took upwards of 41bs. of grain equivalent to produce lib. five weight, when good results will show 3.5. This

is in spite of the fact that the pig* were fed to bacon weight before they were seven months old, which shows that they were individually good “doers.” ..It is, therefore, most highly desirable that a range of sties be erected for winter feeding and “indoor ■ feeding experiments. It is proposed to experiment tins year with the feeding of varying quantities of meals to whey fed pigs, in order to get some information on the economics of this subject. The Department of Scientific and Industrial Research also wishes a trial to be conducted with certain foods to determine whether they produce “fishy” taint in bacon. The department is willing to bear the expense of the food in connection with this trial.

Old from' last O 286 29 216 187 Old exp. ewes 126 95 120 30 Exp, . 2-th ewes 215 121 147 94 2-th ewes, A strain 46 5 6 — 2-th ewes. B strain 49 28 33 — Stud Ryeland ewes . 29 24 32 6 680 459 624 221

N.Z. GOVT. LOANS— £ s. d £ s. d. p.c. Ins. Stk., 1936 101 15 0 . 51 p.c. ditto, 1941 100 0 0 — 41 p.c. ditto, 1959 and 1938 100 0 0 — 41 p.c. Bonds, 1941, 1939 100 0 0 41 p.c. ditto, 1938 100 2 6 — 41 p.c. ditto, 1930 99 2 6 — 51 p.c. ditto, 193b 101 15 0 — DEBENTURES— Well. Racing Club .. Napier Boro’, 51 p.c., 1945 106 10 0 _ 101 0 0 — N.Z. Breweries (stock and bonds) 1 11 0 BANKSAustralasia *14 13 6 Australian Bank of Commerce 1 14 9 English, Scottish and Australian — 8 7 6 Commercial of.Aust. (ord.) — 1 10 0 National of N.Z — 6 17 6 National of Australasia (£5) 9 12 0 New South Wales .. 51 8 6 51 15 0 Ditto (Sydney register) 51 15 0 New Zealand — 3 2 6 Ditto (long term) ... 1 8 6 — Union of Australia .. 14 16 6 14 19 0 Ditto (Melbourne register) 14 17 0 14 18 0 FINANCIAL— Goldsbrocgh Mort ... 2 3 6 2 4 3 N.Z. Guarantee Corp. (ord.) 0 9 7 0 9 11 N.Z. Guarantee (prof.] 1 1 6 — Well. Deposit and Mortgage 0 10 9 — GASChristchurch 1 6 5 16 8 Ditto (contrib.) 0 13 3 — Gisborne 0 13 0 — Wellington (ord.) ... 1 13 6 — INSURANCE— National 0 16 10 New Zealand 2 7 10 2 8 2 South British — 3 7 0 MEAT PRESERVING— Gear 2 3 6 Canterbury Frozen Meat (ord.) 8 5 0 N.Z. Rofrigerat. (£1] — 0 14 3 Ditto (10s) — 0 6 8 TRANSPORT— Huddart-Parker (ord.) t2 5 0 Union Steam (pref.) '1 1 0 — WOOLLEN— Kaiapoi (ord.) 0 14 0 Ditto (contr.) ... 0 5 0 Wellington (ord.) ... — 6 17 6 Ditto (pref.) — 7 0 0 COAL — Westport 1 14 0 — Waipa 0 13 4 — TIMBER— National 0 9 7 0 9 11 BREWERIES — New Zealand _ 4 10 9 Staples and Co 2 13 3 2 14 3 Ward and Co 1 10 3 — MISCELLANEOUS— C. M. Banks (ord.) . 1 1 6 Ditto (pref.) —- 0 17 9 British Tobacco (Aust.) (ord.) *2 9 6 Burns, Philp and Co. — 2 7 6 Eloctro. Zinc (ord.) ... — 1 17 1 Ditto (pref.) 1 16 3 1 17 0 Taranaki Oil — 0 5 9 Wellington Cordage . Well. Queen’s Theatre Wilson’s Cement — 0 14 0 1 3 0 — — 2 4 3 Strand, Ltd 1 2 6 1 5 0 MINING— Waihi *0 13 8 Ohinemuri — 0 10 9 ‘Cum. dividend. +Ex dividend.