The Pembroke County Guardian and Cardigan Reporter

AGRICULTURAL CO-OPERATION. Farmers generally would be interested in tho address by Mr. Walter Williams on coopera- tive farming. A farmer needs capital to work his farm, and, it is not always available. Indeed it is unfortunately only too true that the great need at pre&ent is the want of suffic- ient capital. How can a farmer work his land successfully if his credit be small and he can- not get seeds or manures, or if his land is only hali-stocked ? The cooperative movement again comes to his assistance in the agricul- tural banks. Theme agricultural banks are so- cieties of farmers and labourers registered under the Friendly Societies Acts, who lend manpy for productive purposes to then- mem- bers. They are managed by a committee se- lected by the members, and as the bank is confined to a parish or district, the members of the committee are in a position to say whether the loan is needed or will be useful. A loan from an agricultural bank is made for any period up to 12 months, and beyond the payment of five per cent. interest with the amount of loan at the etnd of the time. speci fiecL, no further expense is incurred. There are no renewals, no stamps, etc. There are numerous ways in whir-h oo-opsration can aid him in getting his produce into the best market. Perhaps the amount, one farmer would have to send would not pay by itself; and in such cases if neighbouring farmers combined the cost would be lessened. It s a subject upon which we should like to have ilie opinion of some of our county farmers.

CLIPPMG3. SCIENCE AND THE SOIL. Pirofessoir Bottomley, in an interesting lec- ture at Ipswich Social Settlement, disclosed some of the wonders of science as applied to the soil. The advantage of the four-course shift in farming, he pointed out, was that the little nodules on the roots of leguminous plants, beans, etc., are crowded with bacteria, the effect of which farmers found, by practi- cal experience was to enrich the soil for the next crop; but these bacteria can be cultivat- ed in the laboratory, and sent out in small I packets to inoculate the soil. Professor Bot- tomly held up a small package, not so big as an ordinary envelope, which, he stated, con- tained enough for two acres. He had, he said, sent out one hundred siamples from the labora- tory at King's College, the cost of which was one penny each, leaving out of account the cost of the laboratory equipment and staff. One Norfolk farmer, who used a sample, found, as a result of this "inoculation," that his peas were ready for picking three weeks earlier, and were 50 per cent. more prolific. IMPORTANCE OF MANURING. Many farmers are no doubt debating with themselves, at the present time the question of how- much they will spend this year on aorti- fical manures. Wi'th some it is the custom to put aside for this purpose an amount equal to the rent. There are few better investments than a farmer can make. But there is one im- portant proviso-the investment must be made intelligently. It has been well said, says the Farm Life," that the secret of isuccers in manuring lies in applying to every crop a man- ure which contains in proper proportions, and in readily available form, all the essential ele- ments required for building up the tissues of the plants. No other branch of agricultural science has so many secrets as that which re- lates to keeping up the fertility of the soil. On the continual fertility of the. soil depends the future of farming in this country. OuT farmers can hold their own in a Free Trade country like onus only by beeping at a very high level both as regards their live stock and their arable farming. Unless axtifical manures axe systematically and wisely employed, it is 1m possible to get the best returns from the soil. Not only do crops suffer in quantity, but there is a serious decline in quality as weill. The lack of quality reacts on the live stock, which fiOOU deteriorates. This question of quality, as the outcome of artifical manuring, is too often forgotten by farmers. They think they have obtained everything from the artificial manure put on the land when they have an increased yield. But the improvement in quality is al- most, if not quite, as important, and is, of course, an additional asset of great value. DAIRY COWS' RATIONS. A correspondent, writing to the Rural World what he believed to be the best ration for dairy cows, said that he dtoes not like welt brewers' grains, which are liable to taint and cause ropy, mucou6 milk. He also upholds parsnips and condemns carrots, advising the use of mangolds in place of the latter. Par- snips and carrots form excellent diet for dairy cows. Certainly mangolds ought not to be used in place of carrots, where the latter are available. If served at this season in any material quantities, they are not only liable to set up scour, but to impoverish the milk. As to the offensive-odoured wet grains," if these are taken direct from the mash-tub they must perforce be wet, but it is not everyone who regards their odour as unpleasant. If they are served fresh, there need be little fear of their causing any unpleasant flavour to either milk,oream, or butter, always provid- ing, of course, that reasonable quantities are given. NEW LAID EGGS. What are new laid eggs worth just now ? The following information was given by a man living in a London suburb, and who is known as a "backyard man," that is to say, a man who keep9 fowls in a confined space at the back of his house. Asked how much he made of his new laid eggs, he replied, "FOUJlpence each." "Where do you sell them?" was the next query. I sell all my eggs to a well-to;do family, who are willing to pay this, price for eggs which are really new laid, and that they cannot depend on if they get them from a shop, far if they pay 2d. each for eggs at shops, very often the eggs are several days old. These fowls that I have pay very well. I don't care to Tisk a larger enterprise, though." In the circumstances, perhaps, the man is right, but the whole moral of it shows that if the public are given a genuine article they are willing to pay a good price for it. Of course, in the case under notice the man is exceedingly lucky, and very few can hope to equal it, but a good private custom is a thing to be envied. Whole- salers are very well in their way, but small men would find it more profitable to deal direct with their customers. A P^UTTtY COMPLAINT. Entfc. 9 is an inflammation of the mucous lining of the intestines, and generally results ii diarrhosa. It can be caused by gain pass- ing undigested into the intestines in conse- quence of the absence of gravel or grit in the gizzard. Dampness is another cause of the malady; the symptoms are want of appetite, feathers deranged, and a tendency to isola- tion. Young fowls are chiefly attacked with this ailment. The sick fowls should be fed on a dough made (not too moistened) of bread crumbs and boiled rice; at the same time the fowls will have to be kept in a warm place, There are other remedies that could be given but for a simple and easily procured one there is not a better than this.

VETERINARY QUERIES. (Questions upon veterinary subjects are in- vited, and will be answered in this col- amn.-Ag. Ed.]

RURAL LIFE. BY A SON OF THE SOIL. A FASCINATING- HOBT.Y. The cage bird show season, which is inquired CViut by "Top Knot," is drawing to a close, bnt there is still one very big show to be held this month at the Crystal Palace. It is next week, so that my correspondent, who does not live very far out of town, will be able to visit it and see for himself the various birds of which he is so great an admirer. The magazine he asks about, the BinI World. is now issued, and it can be obtained at 154. Fleet-street, London. The list of books my correspondent wanted has been forwarded by post, but the illustration he wanted of a rare hybrid I am giving this week. It is the result of a cross between the canary and the bullfinch, aurl makes a beautiful bird. A BEAUTIFUL HYBRID. In a sketch like the one I give it is not possible to convey an idea of the lovely colouring of the hybrid, the beautiful plumage of both varieties being blended in a charming way, but at the show mentioned my correspondent will no doubt see many hybrids of the same variety, and I should certainly recommend a visit. WLNTEB-SPBAYING OF FRUIT TREES. In the January number of the Journal of the Board of Agriculture, mention is made of vari- ous experiments with insecticides carried out by Mr. W. E. Collinge, of the University of Birmingham: "Out-of-door experiments were oommenced in March, 1906, with the following spray-fluid: Caustic soda (98 per cent.), 21b.; soft soap, jib. paraffin, 5 pints; soft water, 10 gallons. The soft soap was dissolved in a gallon of boiling water, and whilst still hot the paraffin was added and beaten up into a creamy liquid. The whole of the liquid was then pumped with force through a fine spray nozzle in the usual manner into another vessel. The caustic soda was dissolved in 9 gallons of rain water, and into this solution the paraffin emulsion was then poured, and the two well mixed together. This spray-fluid gave excellent results, and it is pro- posed to substitute it in future for the caustic alkali wash of caustic soda and carbonate of potash. In all probability this spray-fluid will I prove effective in destroying the eggs of aU aphides, and the red spider also, thougE it ha* not yet been tried upon the latter pest." COOP WITH RUN. I The run is constructed of straight galvanised wirework, with hinged top. It is 3ft. long, 2ft. wide, and 2ft. high, and is especially adapted for giving the hen exerciae with her brood. The run folds flat for travelling or storage. SELECTION OF SEED-WHEAT. As a result of the examination of many samples of seed-wheat, Dr. G. W. Shaw, of the Californian Agricultural Experiment Station, is of opinion that sufficient attention is not given to the matter of seed selection. There is little doubt, he thinks, that much of the present condition of low yield is due to the lack of attention to the rational selection of first-class seed. If we are to grade up our wheat, we must follow the same practice in cereal culture as is followed by the stock breeder in building up his stock, using only the best types for pur- poses of reproduction. From the examination of large numbers of samples, he concludes that there is much room for improvement in the yield of wheat per acre. One of the most im- portant factors contributing to high yield is the use of only first-class seed. Grading, accord- ing to the size of the grains of many samples of seed-v.'heat collected from farmers, shews that the quality being used by most is far below what might reasonably be expected in relation to so important a factor in crop production as the purity of seed, perfection of development, weight per bushel, freedom from weeds and from bunt or stinking smut. The experience of practically all investigators is that the highest yield and quality can only be obtained from the use of large, plump seed of high weight per bushel. The superiority of such seed lies in the greater reserve food supply for the young plant, thus giving it a more vigorous utart and early growth. No permanent benefit can come from the frequent exchange of seed, except such change be to secure a better type of wheat or a more vigorous grain of the same <ype. SNOW-SHOES FOR WAGGONS. Many country people have had occasion to use sledges rather than light carts this winter be- cause of the snow, but owners of heavier con- veyances may be glad to see a sketch of anow- shouvs which are largely used in America and t SNOW-SHOES FOR WAGGONS. I Canada during the tima there is deep snow on the ground. The shoes are detachable, being readily buckled on to the wheels as they may be required, and, hgffig seen something of tho t-j.iMnd in Uise in the North of England, I know how very useful such an attachment is at a time when locomotion is almost impossible by means of an ordinary wheeled conveyance. The village blacksmith can make the shoes, and although they may not be needed more than one winter in five they will certainly pay for their making when snow mal;ea the roads almost impassable. DIGGING IN THE MARKET GARDEN, &C. The time of year has arrived when all arrears of digging must be finished up in the market garden, the nursery, and the plantation. We are, of course, referring to all vacant land, says a writer in the Fruit Grower. There are some market gardens that are situated near largo towns that have been so heavily manured with the stable variety that they are, to use a common expression, "chock full," and yet the growers are disappointed with the results. In many instances that have come under our notice the land. through constant manuring, has be- come acid in its reaction, and when this is the case through an excess of organic matter very few plants will grow in any way satisfactorily. Now, before digging up such land, for one sea- son, or part of season at least, lot the manure cart have a rest, and instead cart on to the land some fine chalk, lime ashes, or fresh-burnt lime. The pulverised chalk now obtainable will be the best if chalk is to be given now, and from two to four tons per acre should be spread over the land. If lime ashes are obtainable two to three tons of this may be put on, and if fresh burnt lump or shell lime has to be used, from one to two tons per acre may be applied. It should be laid about the land in small heaps and be A COOP WITH RUN. The correspondent who asks me for particulars of a coop to which a run is attached has appar- ently not seen the one of which an illustration is given. It was on view at most of the shows held during the late autumn, and attracted con- siderable attention. The ooop, which is sold separately, is made of thoroughly seasoned deal, having a hinged shutter with chain attached for raising or lowering it, a sliding bar for letting the hen into the run, and a hinged roof. As regards size, it is 24in. wide by 20in. deep, and 24in. high in front and 12in. high at the back, watered and covered with some of the surround- ing soil. When thoroughly slaked it may be spread and ploughed or dug in at once. If the land is full of slug and other insects the lime may be freshly ground and unslaked, but in this case only so much must be sown at a time as can be turned in within one hour. It is folly of the grossest sort to pay for ground lime and then to leave it on the surface to slake. Turn it in quickly so that it may slake in the land and do its work of disinfection. To these sour soils a dose of lime will be life. and to the grower spell £ s. d. Sow lime or manure if necessary, and get the land turned up to the action of the weather as quickly as possible, or there will be no tilth for the seed in March in the market garden, and no friable soil for the hoe to run easily in in the plantation later on. LILY OF THE VALLEY. With the assistance of retarded crowns, we may have Lily of the Valley now all the year round, bearing in mind, however, that tho re-' tarded crowns should be gradually acclimatised, and never kept in so high a temperature. They, are, however, equally fond of moisture, which must be in abundance, says a writer in the Garden Home. The retarded Lily throws up the foliage much more readily than the ordinary

S. and F. 6REEM, Haverfordwest. IRONMONGriHlifesTIMPLEMENT & CYCLE AGENTS. -U"IIJ'c. Oil Engines, Thrashers, Corn 21111s, Ohaffcntters, Pulpers, Cake Breakers, Single & double Furrow Ploughs, Separa- tors, Sewing1 Machines, Washers, Wrmgrers, Mangles, Bed- steads, Lamps: 8 to 800 Candle Power, Carriage and Cart !Lamps, Cartridges, Kitchen Ranges and Grates. LARGEST ST00K IN THE 0OCNTY. -0

FAIRS AND MARKETS. Fishguard, Thursday, Feb. 7th.—There was a good attendance, and a large supply of pigs. Quotations:—Eggs 10 to 12 per Is; butter is 5 per lb; live fowls 3s 6d to 4s 6d per coupls; rabbits Is 4d to Is 6d per couple; beef 7d to 3d per lb; por 7d to 8d per lb. Whitland, Friday Feb. 8th.—There was a fair attendance and supply. Butter in casks 16 to Is Oid, and in pound rodils Is Id to Is l!d per lb; eggs 14 to 15 for Is; rabbits 8d each; live fowls 5s to 6s. per couple; dressed poultry 9d to lOd per lb; beef 7d to 9d; mutton 7d to 9d per lb; veal and pork 6d to 7d per lb. Carmarthen, Saturday, Feb. 9th.-The supply of butter does not seem to increase; therefore the price remains the same as last week, from Is lid to Is 2d, according to quality. Nothing inferior on offer. Cheese contiues slow; de- mand small; price from 30s to 34s per cwt. Llandilo, Saturday., Feb. 9th. Tub butter was very scarce. There were no geese or tur- keys, eithe(r alive or trussed, for disposal. There was a fair supply of fowls, and eggs were fairly plentiful. Quotations:—Fresh but- ter Is 3d per Ib and Is 3d per 1J.b; tub butter Is 3d per lb; Australian Is 1 per lb; eggs 11 and 12 for Is; cheese—Welsh 5d per lb; creJam whole 8d per lb; to cut 8d per lb; chickens—trussed 5s 6d to 6s 6d a couple, ac- cording to size, alive 4s 6d to 5s 6d a couple; duckfi—trussed 6s a couple.

FARMER DELEGATES' VISIT The thirty Canadian farmer delegates select- ed by the Canadian Government to visit the United Kingdom are now busily touring the provinces They are delighted with the wel- come they are receiving, and at the eagerness displayed for information about Canada. They meet everywhere large numbers who are con te.mplating settlement in the West, or work on farms and railroad construction, work which is rightly regarded as a stepping stone to settlement on the Government free grants, with the savings that are possible within a c-ouple of years. The delegates' visit will ex- tend over three months, and the carefully pre- prured itineraries they ace following, which in- volve visiting from four to six different points (very week, should enable them to cover most of the principal market, centref in Great Bri- tain during their stay.

♦ — A NEW GEAR-CASE FOR CYCLES. The Humber slip-on" gear-case is quite one of the most interesting noveltes of the year. The defect of the fixed gear-case has al- way:i been that, in case of necessity its re- removal was a job for the workshop, and quite beyond the amateur or roadside repair. On the other hand, a detachable gear-case is not so effective as a dust-preventive and oil-re- tainer. The Humber slip-on" combines the advantages of both gear-cases without the de- fects of either. By a simple method of utilis- ing the Humber swing stay, the gear-case, al- though completely encased and oil-retaining, can be removed in a moment and re-attached with similarly slight effort. Thus cyclists can have all the advantages of the fixed gear-case and completely protect the chain, with the knowledge that, should occasion ever require it, the case can be removed with even lees trouble than the ordinary detachable case. It is an innovation which should be carefully studied and adds one more item to the long list of specialities for which the Humber cycles axe famous.

BROWN'S BRONCHIAL TROCHES BROWN'S BRONCHIAL TROCHES Cure Cough, Cold, Hoarseness, and Influ- enza, Cure any Irritation or Soreness of the Throat, Relieve the Hacking Cough in Consump- tion, Relieve Bronchitis, Asthma, and Catarrh. Cartry them about with you. Sold everywhere, Is. lid. per box. BROWN'S BRONCHIAL TROCHES BROWN'S BRONCHIAL TROCHES 12mr29 MY MOTTO- LUXURY A-D ECONOMY. A Splendid Selection of Groceries and Provisions. I offer BEST VALUE At Prices which Spell ECONOMY IN HOUSEHOLD MANAGEMENT. Try our CELEBR A.TED ENGLISH AND CANADIAN BACONS & HAMS -1 1;7 C. VINCENT DA VIES, BRIDGE STREET, HAVERFORDWEST. D03D-Q2

II THE LONDON AND PROVINCIAL ElAJK. The half-yearly general meeting of the share- | holders in the London and Provincial Bank, Limited, was held at the Cannon Street Hotel, London, the Right Hon. Sir Herbert Maxwell. Bart., F.R.S., presiding. The directors' report and balance-sheet was submitted:— The Chairman said: Ladies and Gentlemen,— The report of the bank for The last ha.i-year is in your hands, and has been so lur some days. Therefore, if it is your pleasure, we will take it as read. I will not detain you many minutes in referring to the details of the Lepers I may call your attention to the fact lizit the only unchanged feature in it is the amount of paid-up capital, iL800,000, which is ':w same as during tho last five and a-hali y .jars. We propose to add £10,000 to the reserve fund, raising it to £ 1,425,000, and invested in a separated account of £ 1,676,470 of Consols, written down to 85. The volume of our busi- ness shows a marked increase. The current, deposit, and other accounts amount to £ 14,167. 347, being a record, and an increase of £ 376,602 over the corresponding half of 1905. The- gsreer profit on the half-year is also a record. Aftct- deducting rebate on bills not due, and making provision for bad, doubtful, and unsatisfactory debts and contingencies, it amounts to L324,195 being an increase of £ 35,674. Per contra, there is an increase in our expenses during the past year. The Bank rate has ruled higher, an average of £ 4 12s. lid. per cent., against an average of L3 6s. 7d. per cent. in 1905. The consequence is, we have been obliged to pay a higher iate upon deposits, an increase under that head of iP,21,128, and an increase in our general expenditure of £ 9,535; altogether, £ 30,662, against the increase in gross profits of £ 35,674. Cash in hand and at call and at a few days' notice is larger by £ 407,082. Our in- vestments have been increased by kll9,555, the increase of these two items together being £ 526,637. In advances and bills discounted you will notice a decrease of £ 142,995. It is a gratifying feature in our balance-sheet that the percentage of cash—money at brokers and in- vestments—to liabilities amounts to 52.50. The net profits'of the half-year, exclusive of rebate and balance brought forward, amount to £ 102,901 14s. 5d. Add to that the balance brought forward, and it makes a dis- posable sum of iC145,543 Is. 10d., which like the customers' balances, is a record a- mount. There is only one unfavourable fea- ture in the whole of the report which we have to submit to you, one feature, that is, on which we do not dwell with satisfaction, and that is, that we have to report the death of our lamanted colleague, Sir Alexander Mon- crieff, who, with the exception of only a few weeks, had been 30 years a member of the board. We recommend that the sum I have named, L145,543 Is. 10d., be appropriated in the following manner:— £ 72,000 to payment of a dividend at the rate of 18 per cent. per annum, free of income tax, 410,235 7s. 4d. to the re- serrve fund, raising it, as I have already said, to kl,425,000, 410,000 in reduction of freehold and leasehold premises account, £ 5,000 to officers. gratuity and pension fund, carrying forward Z48,307 14s. 6d., about iF.7,000 more than last year. I hope that that disposal of the net profit will meet with your approval. I would remind you that we have just passed through a somewhat eventful year. During the year 1905 there were but three changes in the Bank rate. In 1906 there wetre' no less than six changes. On January 1st of last year the min- imum rate stood at 4 per cent., which sufficed to attract enough gold to raise the reserve from iEl7, 849,000 on the 3rd of that month to L26,447,000 on April 4th, when the Bank rate was reduced to 3 per cent. Then came the San Francisco disaster, the Russian loan, and other contingencies, which combined to draw away so much gold from this country that on May 3rd the reserve had fallen to £21,000,000, and the Bank rate was raised again to 4 per cent. By the middle of Junei the reserve had recovered, and stood at E24,548,000, and the rate was again lowered to 3 per cent on the 21st of that month, but in the autumn the American drain set in again, and the Bank raite was raised) to 4 per cent. on September 13th, to 5 per oent. om October 11th, and to 6 per cent. on Friday, October 19th. Not for thirty years had the change been made on any day but Thursday, the usual date of the Court meeting, and it caused a certain amoun't of uneasiness at the time, which fort- unately proved to be transient. The result of all that has been that, although the Bank rate has been at a higher average during 1906 than it has been for sixteen years, the reserve has again fallen from C26,447,000, where it stood in April last, to about E22,593,000, The strain has come from the United States, which has taken eight millions .from the Bank; from Egypt, which has taken nearly the same a- mount, although she generally only wants from three millions to four millions per an- num; and from South America, where certain changes in the currency laws and conditions of trade caused them to ask for and obtain seven millions. Well, gentlemen, it is not surprising that, in the face of these sudden and unforeseen calls upon the gold reserve of this country, the means of providing against them should be engaging the earnest attention of financial circles, and the idea is in the air- I am not 6ure it is not a little! more than in the air—that joint-stock banks should be called upon to contribute to a national reserve. It is not enough, in the opinion of some persons whose opinion is well worth consideration, that such institutions as the London and Provincial Bank should hiotd as it does hold, a sufficient reserve against its own liabilities. Such in- stitutions, it is held, must be called upon to make cpecial provision for the national credit. It has been proposed that a levy of 1 per cent. upon the current and deposit accounts of the banks of thei United Kingdom should be made. These accounts amount to about £ 800,000,000, and 1 per cent. on that sum would produce "U. -P £ 8,000,000. Suppose, in addition to that, that the Government were to pay 2 per cent. on their deposit liabilities in the Savings Bank, u iiieli anrjun. to £ 200.000,000, Midi would give iiioMit-r iouii nn;Lo:u:, niaicng in ail a reserve íO be locked up as a nan>on^; reserve- of 000,000. On thai pioposai I will only eay h' that if such a call is ma/ie; upon the London Provincial Bank, we shall be in a position to meet it without the slightest difficulty, but it will be a considerable call upon our balance, as it would amount. to £ 140,000. But I ven- ture to ask whether a reserve of no more than 12 millions is a exiiiicdent, reward for the bur- den thus laid on jo, nt-stock undertakings. I venture to think it is noi, seeing that Egypt alone drew more than half of that amount in November and December 1a.L. Even assum- ing that our national credit would be material- ly strengthened by the locking up of 12 mil- lions against untoward contingencies, I ven- ture to hold' the opinion that it ought to be supplemented, by another expedient. I am speaking on] y for myseif; I am not speaking on behaif of my colleagues, nor do I wish you to understand that what I am saying is the deliberate judgment of the board of directors. Perhaps, as a Scotsman, I may be unduly pre- possessed in fayour of a scheme which works well in the North. I believe that a valuable supplement to the national reserve-a supple- ment, mind you-would be created if the Bank of England were empowed to issue iCl notes to the extent of 12 or 20 millions; not fiduciary notes as the present issue is, but notes issued against a like amount of gold, earmarked for certain contingencies, and not to be used for the ordinary business requirements of the mar- ket. I am aware that there is a widespread prejudice against such a course, but I doubt whether it is as deep-seated as it is wide- spread. I doubt, that is to say, whether the dislike to the proposal rests on well-considered grounds, or whether it is not chiefly an aver- sion derived1 from events which happened in the early years of last century. At the close of the 18th century the bank of England sus- pended specie payments, and from that time un- til 1819 iEl and Z2 notes were issued. Specie payments were resumed in 1819, the Bank of England called in these notes, and the gold supply was found insufficient to meet them. Then came the trouble. The. result wag severt) and alarming stringency, a number of private provincial banks sprang up each of which under the banking laws of that day, were fireeJ to issue notes without restriction, and did so, and not only banks but private individuals, manu- facturers, and shopkeepers issued iLl notes, and when the panic took place in 1825, a vast amount of this paper proved worthless. Those who issued it could not redeem it, and Ll notes incurred a distrust which has lasted to this day. Of oo/urse, I do not suggest any return to such a state, of things, but there is no rea- son to imagine that a Ll Bank of England note would not carry its face value just as surely as the presnt R.5 or Z10 notes do. And what would be the effect of this? Why this. It is calculated that at the present moment out of 120 millions of gold actually in the country 70 millions are in the pockets of the public or in the banks as till money. By the issue of £ 1 notes a large amount of that would be with- drawn from circulation and laid up as a nat- ional reserve. The Scotch and Irish banks at this moment have a notJ issue of 15i millions, against which they hold only 6i millions of gold. It was observed by Mr. Holden on Tues- day last that if this was. a Bank of England issue the National reserve would be strength- ened by 15 millions of gold. It may be object- ed that the issue of Ll notes by the Bank of England would not increase the amount of gold in the country, but would be, merely transferring gold from one pocket to another, from the public into the bank; but there is surely this diff- erence, that so long as gold is in circulation it is not visible—it is not available against emergency—whereas if it is' locked up in Te- serve, and earmarked for certain contingencies, it is there at an hour's notice should such contingency arise. There is this further con- sideration, that gold in circulation is subject to waste; a sovereign wastes away, and has to be recalled to the Mint periodically, whereas gold in the coffers of the bank suffers no waste and no tear. A man loses a sov- ereign, he drops it in the river, or a ship goes down, and all the sovereigns in it are lost to circulation, the stock of gold in the country diminished by so much, but, if a man loses a £1 note, the bank of issue is relieved of its obligation to that extent. You may re- member an incident in the Irish rebellion of 1798, when the Irish rebels" in Dublin on a cer- tain occasion got hold of many thousands of pounds worth of Bank of Ireland notes. They thought they would do the bank the greatest injury in their power, and they burned those notes, but they were relieving the Bank of Ireland of their obligations to that amount. I have ventured to touch upon the fringe of a great subject, but, of course, it is not possible to do more in the time at my disposal even if your patience were equal to listening to more. I have mentioned it because tt is a subject that is attracting the attention of business men at the present time, and I think it should re- ceive consideration from all who take interest active or passive, in the affairs of this bank. I beg now to move That the reports of the directors and of the auditors for the half-year ended December 31st, 1906, he received and adopted, and printed for the use of the share- holders." No questions being asked, or comments made the resolution was at once put to the meeting, and was carried unanimously. The Chairman moved: "That the recommen- dation of the directors to declare a dividend for the half-year ended December, 1906, at the rate of 18 per cent. on the capital of the bank be sanctioned." Sir J. Savory seconded the resolution, and it was carried unanimously.

A choice of Cocoa to suit your taste. Either the most nutritious Or, a lighter and thinner and strength-giving drink, refreshing and stimulating. EPPS'S EPPS'S ^Grateful—Comforting. CIJCUll COCOA ESSENCE A delicious drink and Welcome at any hour a sustaining food. of the day.

Our Prepaid Scale. J ONE THREE SIX I Insertion. Inserts. Inserts 28 words or under. Is. Od. 2s. Od. 3s. 6< I 35 „ 15. 3d. 2s. 7d. 4s. 7d. 42" Is. 6d. 3s. Od. 5s. 3d. I And so on at the rate of 3d. per seven worris- on the First Insertion, and Half-price gubse quent consecutive insertions. These charges apply only to the following classes of advertisements if prepaid:—Situa tions Vacant or Wanted, To be Let, Apart ments Wanted and To Let, Houses and other Premises to be Let, Specific Articles for Sale, Articles, Dogs, Sheep, etc., Lost and Found, and all Miscellaneous Wants. Unless paid for in advance the credit rate of double the above will be charged.

The "PEMBROKE TO" JTY GUARDIAN" ALMANACK For 1907 IS 1" COURSE OF PREPARATION. It will I, AN EXCELLENT MEDIUM For ALL CLASSES OF ADVERTISEMENTS. lull Page, 10s Half Do., 5s.; f Quarter Do., 2s. 6d. Special Positions by Arrangement BOROUGH OF THE TOWN AND COUNTY OF HAVERFORDWEST. FAIRS FOR 1907. THE FAIRS for 1907 will be held as fol- lows, unless unforseen circumstances shall make an alteration necessary:— FEBRUARY Tuesday, 12th. MARCH .Tuesday, 19th. APRIL .Tuesday, 9th. MAY Tuesday, 14th. JUNE (for Wool and Stock) .Tuesday, 11th. JULY Tuesday, 9th. AUGUST .Tuesday, 13th. SEPTEMBER Friday, 6th. SEPTEMEER Tuesday, 17th. OCTOBER (Hiring) .Saturday, 5th. OCTOBER .Tuesday, 22nd. NOVEMBER .Tuesday, 12th. DECEMBER .Tuesday, 10th. THE PIG FAIRS Will be held on the day after the Cattle Fairs. Dealers and others attending the Haverford- west Fairs are hereby cautioned against the practice of Lacerating with a Knife' or other Instrument for the purpose of Marking any animal, and Notice is Hereby Given that, un- der Statue 12 and 13 Victoria, Cap. 92, all persons found Lacerating any Animal will be liable to a Penalty of £ 5. JAMES REYNOLDS, Mayor. CLEARANCE SALE FOR STOCKTAKING purposes, and to provide BPACE FOR NEW SEASON'S GOODS, COMMENCING JANUARY 1, AND Continuing throughout the month. This is an opportunity of obtaining excel- lent value at extremely low prices. GREAT REDUCTIONS in all Depart- ments. No credit during Sale. Inspec- tion respectfully invited. NOTE ADDRESS: EVAN DAVIES, London House, LETTERSTON. LADIES Requiring an absolutely Safe Sure and Rapid Cure for All Ailments, Write, NURSE F. St. CLAIR, 75, BRADGATE ROAD, CATFORD, KENT, 72de5'06 LONDON, W.C. Report OF County Analyst OF A SAMPLE OF SODA WATER" taken by the Inspector under the Adulteration of Foods and Drugs Act Manufactured by T. Lewis & Co., Fishguard: EXCELLENT- WORD TO LADIES. Bend two stamps for our new and original Illustrated Booklet, containing plain and prac- tical advice how Irregulartities, Suppressions, etc., may be prevented or removed by simple means in a few hours. Recommended by eminent Physicians, and thousands of Ladies, as being the only Genuine Remedy. This is not a quack medicine. Established 30 years.-LESLIE MARTYN, Ltd., Chemists, 34, Dalston Lane, London. ADVERTISE IN THE "GUARDIAN." HENRY HILLS AND SONS' CHEMICAL MANURES AMLWCH, ANCLESEY. MR. W. REES CARVER, Auctioneer, of Fishguard, has been appoint* d Agent for the Sale of our Manures at FISHCUARD, COODWICK AND ABERCASTLE. A good stock of Manures will be stored at the various depots, and all orders promptly atten- ded to. We solicit the continued kindly pat- ronage of the surrounding Agriculturists, and assure them all of our best services in the future. de LEWIS HUGHES, Mansgar- TITLE: REOISTERF-D.- E t4 K N A R:m Z R .(,.U N,E- MOST IMPORTANT TO FARMERS A preparation for the prevention of Black Leg or Murrian (CHWARREN) in young Cattle. For CALVES of from six to eighteen months old. Give in August or September, or even later, one drench to each calf in about a pint of warm gruel, keeping the calves without food for two hours before the drench and two hours after. In farms where the disease is very pre- valent the drench should be given twice a year, as directed above, about the end of May and September, as well as bleeding a quart from ih calf from six months to one year old. bleeding is not absolutely necessary. PRICE 9d. PER DRENCH, OR 9s. PER DOZEN, CARRIAGE PAID. Not only is the drench useful to prevent tha Murrain, but is of the greatest importance to preserve calves from the Husk, Hose, or Worm in the Windpipe. This preparation has proved a success for over thirty years among Farmers. Prepared by the Q Inn 1/ ij « Sole Proprietor, ■ ■ VJ ■ UClliMil O j WHITLAND, S. WALES. MR. J. T. BUSHELL, Posty Farm, Narberth, Pembrokeshire, writes August 12th, 1903 Please send me three dozen drenches for my claves as usual. I have proved them so good that I have not lost a single calf since I commenced giving them twenty years ago." THE SLADE TIMBER YARD, FISHGUARD. J. M. GUILD, (Late W. Williams & Son.) Timber Merchant, HAS a large and varied stock of Good Build- ing Timber (in Red Pitch-pine, White and Spruce), Flooring Boards and Match- boards, Yellow Pine, Spruce, Archangel White, American White Wood, Carolina Pine and Oak- sawn Boards, Prepared Mouldings, comprising Architraves, Sashes,Sills, Skirting Boards, &c^ also Split and Sawn Roof and Ceiling Laths, Wire-cut and other Nails. Speciality-Welsh Oak, Ash, and Elm, Shafts, Spokes, and Felloes, Shovel and Mattock Sticks, Ladders; Cart Material cut to size. Wheelblocks turned and Gates and Barrows made to order. Estimates given to supply Buildings. OFFICES-SLADE, FISHGUARD. TOOGOOD & SONS, ROYAL SEEDSMEN. ALL KINDS OF FARM AND GARDEN SEEDS. SPECIALLY SELECTED SEED CORN TOOGOOD'S SCOTCH BLACK TARTAR OATS. TOCGOOD'S BLACK TARTAR OAT. FOOGOOD'S NURSERY WHEAT, a most productive variety. ORDXB EARLY FBOM— R. E. THOMAS, CARTLETT MILL, HAVERFORDWEST, iiavertordwest and St. David's. THE City Hotel Omnibus or Brake will, JL until further notice, irun on Saturdays between St. Davids and Haverfordwest., leav- ing St. David's at 7 a.m., returning from Haverfordwest on the arrival of the 2.40 train. Fares 2s. 6d. Extra charge for luggage. G. MARTIN, Proprietor. I HARDY'S K1 B»oimoH CONSUMPTION & COUCH SPECIFIC. A certain euro for Coughs, Colds, Co; BT&JS sumption, Asthma, Hooping Cough, Bro^ SZjJj chitis and kess of Voice, Bleeding of the Lungs, Influenza, &c. Highly reconi- mended by the Medical Profession. Pro- I'fired only by Geo. Hardy. Price Is. l*d. and 2s. 9d. of all Chemists, or post free. HARDY'S E3 BROMPTON COUGH LOZENGES. The Genuine and Original in boxes onlv. IL^^B Never sold loose. PHce Is. lid. See that tjvery box is wrapped in Government (Stamp and bears Hardy s Label I lejiot, 42, Water- loo lid., S.E. Insist on Laving Hardy's. E?tjblislied ne.v'-a century at Broniptou. MgJuM The Genuine and Original in boxes onlv. IL^^B Never sold loose. PHce I.. lid. See that tjvery box is wrapped in Government (Stamp and bears Hardy s Label; I lejiot, 42, Water- 4Nb loo lid., S.E. Insist on Laving Hardy's. E?tjblislied ne.v'-a century at Broniptou. MgJuM George Palmer & Son, CORN, SEED AND MANURE MERCHANTS, MALSTERS AND HOP FACTORS, Haverfordwest.

.A .i..AI ciown, v-v I j ich is :J,n advantage, if i, leaves are to hand in other directions. Tiv in: rket grower has a separate stock for the cultivation of dark green leaves only, which is a decided assistance. The foliage us pruduced with the \uCI!l;. w11;(::) is generally more or lerts of a sickly looki:v: y.el1.ow, and it does not contrast favourably with 60 delicate a flower. When the f!0WcrS are fully developed, it. is well to vc y gradually re- duce the temperature. This makes h.) bloom not only more la«tino\ but it rtanda more erect and substantial looking. Any good loam will suit them, always provided there is an addition of sand to make it distinctly porous and sweet. The Lily of the Valley is such a universal favourite that ito cultivation by the amateur i6 a "consummation devoutly to be wished." At present, it iN seldom seen in perfect condi- tion, except in the windows of our prinei'pn! florists. The time necessary to produce is c-o limited—from three to five weeks—that it is from the initial planting a source of interest to the cultivator. There is an utter absence of the impatience usually associated with tho produc- tion of flowers, when it is so difficult to re.- st the temptation of pulling them up to see progress is going on below dock." AH correspondence afrpetinr this column should be addressed to A Son of the Soil," care of the Editor of this journal.