COLONIAL WOOL AND MEAT.

Press, Volume LVI, Issue 17015, 11 December 1920, Page 7

COLONIAL WOOL AND MEAT.

AMERICAN FARMERS ASK FOR EMBARGO. WASHINGTON. December'lo. "Wool-growers and manufacturers appeared before Consreeeional committees, and _ asked for an embargo upon the importation of wool and slieep ■until the tariff can be revised, giving American flock-owners adequate protection. The representative of tie National WoolgTower3' Association pointed out that woolgrowers were being ruined by the importation of wool and meats, and unless something were done immediately Western flockowners, universally, would be bankrupt. He added that 995 million pounds of wool, enough for two years' tupply, were row stored in the United Statse, and Argentine wool,' of certain lower grades, waa. Gelling l here for less than American growers could market their prdftuct. He estimated that 95 per cent, of the present year's American clix> was unsold. Other woollen merchants point out : that foreign wool' mud 8X&& pioducta were being.

dumped on the American markets, Sao to , the dcprociftlcd exchanges "which mauo .no i operation profitable. They susses ted that j the tariff should bo revised, taking 1 into con- j sideration the exchange. i SYDNEY 'WOOL SALES. SYDNEY, December IDThe wool sales rivaled ft selection of pood wools. Oomp-r-tition. for beet ( wool was better than of late, and withdrawals were less frequent. The- top price was 4GJ*I. GEAR MEAT COMPANY. J Tho directors of the Gear Moat* j servin? and Freezing Company of j Zesland. Ltd., in the annual report state that during Iho voir proposals adopted for Ftroiicihening tho capital of tii« comnr.ny, and the account no v.- appears :n J- s altered form. Including the amount brought forward, lees appropriation made ct tho extraordinary general meeting of shareholders held on March 22cd, and after making allownr.ee for depreciation and payment 01 interim dividend, there remains a bolanco of JC92.17S Hs 4d. which the directors recommend for Appropriation as follows:—-In payment of dividend of Is SA per eha.ro for the year ended 30th ultimo, less dividend oi 6d paid in Juno, £17,250; appropriation towards liability for taxes, etc., in i>"tew Zealand and Great Britain, £50,000; to be carried forward to next year's account, £-24,9® 14s 4d; total, £92,179 14s 4d. Owing to the satisfactory condition of tho company's insurance reserve, tho directors recommend tho payment of a bonus of Bd per ?hare out of thnt account. The retiring directors aro Sir Francis Bell, K.C.M.G., &nd Mr A. do B. Brandon, who, being eligible, offer themselves for re-election. BANK OF XET?; SOUTH "VYALE3. The report of the Bank of New Soufeh. Wales for the half-ye it ended September 30th «howa a net profit of £348.633, and with £150,448 brought forward, £499,090_ is a,vail- | abld. A dividend aA the rate of 10 per cent, per annum (Inclndlnf? interim dm- | d<md of £121.420 paid fn Augrust 25th), absorbs £244,697, a. sum of £75,000 re added to ro&ervo, £10,000 «, tho Bw:sc!and Fund, and £169,382 is carried forward Tho following comparison of deposits, cdvance®, and profit* over » eoracs of year* is of interest :— Half-yesur ended .. , Sept. 30.' Deposits. Advance®. l\*t profits-. ! 1914 30,722,127 27,207,833 246,323 194G ■. 38.823",593 28,243,138* 248,443 1917 . 40,579,001 26,132,991* 274,60:} 1918- .. 41,252,337 82,540,149t 273,560 1019 .. 48,700,72.1 32,651,686* 802,425 1920 .. 60,068,085 348,663 * Includes wheat advanoee. + Includes war Xoaji and wheat advenes®. i Includes war loan, war gratuity, *®d wireat advances.