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101. Do you receive and sell the produce of the farmers, and supply their requirements?— Yes. 102. Is there a profit made out of that transaction?— Yes. 103. And the profit goes to the company?—lt is divided at the end of the year amongst the individual shareholders. 104. It is with capital in the first instance, of course, that you commenced operations?— Yes. 105. Does it not strike you that individuals, or small numbers of people engaged in manufactures, might require some assistance in the shape of co-operation when they have not the power the farmers have, owing to their numbers ? Mr. Inglis : Your idea seems to be that the manufacturers cannot combine amongst themselves ; but is it not a question whether there is any room for their operations if they do combine ? Mr. McGowan : If there is room the farmer can combine, if there is not room he cannot. 106. Mr. Stevens.] Mr. Talbot, are sheep-shears or shearing-machines the most used in Canterbury ? —Shears. 107. Can you give any reason why shearing-machines are not generally used ?—There is a heavy cost in setting up the machines ; and the experience, on the whole, is that not much advantage is gained. The Home manufacturers also complain, I am told, that the wool shorn by the machine is damaged for spinning purposes. 108. Do you consider it just that there should be an import duty on sheep-shears and none on shearing-machines?— No. I think both should be on the same footing. 109. You have omitted to ask for a rebate of duty on sheep-shears. Are not horse-rakes manufactured satisfactorily in the colony ?—I think they ought to be, but I have had no experience of them myself. 110. Are the locally-made cultivators as good as the imported ones ? —Yes. 111. How about seed-drills?—We get better ones here than the imported. 112. Are there many ploughs imported into New Zealand?—No; they are all of colonial manufacture. 113. Do Beid and Gray import their ploughshares, or make them in the colony ?—I think they make them, but a great number are imported. Mr. Inglis : A share is imported to fit the colonial plough. 114. Mr. Stevens.] I understand that if you buy a colonial plough you can have duplicate shares to fit it from the manufacturer ? Mr. Anstey : We buy them constantly. 115. Mr. Stevens.] Do they not answer the purpose well until worn out ?—The colonial share will not wear half as long as the imported. 116. Therefore it goes to show that the colonial plough is not equal to the imported plough?— The colonial plough is all right, but the colonial share is not. 117. Then, your whole objection is to the tempering of the share, and you contend the local manufacturers have not the means in this colony to temper them ?—They have been many years at the work, and have not succeeded so far. Mr. Inglis: The steel share of local manufacture costs 65., and the Home article is sold at Is. 6d. or 2s. Mr. Anstey: A plough will last twenty years, and a colonially-made share will not last ten minutes in the paddock lam ploughing now. The average life of a share is seven days, and it must be specially tempered. Very few firms in England can make shares like Bansom and Hornsby. 118. The Chairman.] Then, it is not contended that ploughs are imported ? Mr. Anstey : No, only shares. 119. The Chairman.] Is there any other matter?—We understand an attempt might be made to impose a duty on coal. In Timaru we pay 7s. per ton more for New Zealand coal than for New South Wales coal. We import 3,000 tons a year, and a duty of 2s. 6d. would mean a payment by us of £375 per annum. We are opposed to any duty of the kind, and ask that coal should be allowed to remain on the free-list. With regard to sheep-dip, we sell 150 drums a year, imported dip and colonial dip. We wish it to remain on the free-list. 120. Is it a fact, or not, that sheep-dip made in the colony is equally as good and as reliable as the imported dip?—lf the colonial dip is as good as the imported it does not require protection. 121. Is there any prejudice against the colonial dip?—No; some colonial dips have been badly mixed, and a dip I had killed some sheep. 122. Still, there are some colonial dips that are as good as the imported?— Yes. 123. You object to a duty on sheep-dip on the ground that a duty would necessarily increase the cost of the article ?—Yes. 124. You admit that there are colonial dips as good as can be imported?— Yes; and the reason we think they are so good is because of the wholesale competition. 125. Mr. Mackenzie.] I gather from what you said, Mr. Talbot, that it is the presence of a population in a county that determines the value of its produce ?■—Yes. 126. Begarding the price of bread, are you aware that the price now charged is due to a bakers' union ? Mr. Anstey : I think it is due to a "corner" amongst the millers. They were shipping flour to Australia and selling it cheaper there than in Timaru. 127. Mr. Mackenzie] Can you tell us, from your experience as farmers, what it should cost to produce a ton of flour ?—That is not a farmers' question. 127 a. With regard to coal, it appears clear that any increase in duty would not encourage the lowering of the present price ?—That is so.