COMMERCIAL.

Press, Volume LX, Issue 18267, 29 December 1924, Page 10

COMMERCIAL.

THE YEAR'S TRADE.

HOPES NOT FULFILLED

(BT CABL*—PRESS ASSOCIATION—COPIBIGHT) UVSTSIIJAX AND X.7.. CABLi: ASSOCIATION.)

JyOXDON". December 2d

Observers, eonimeutiiig on the international revival of trade in 1934. point out that the fervent hopes of a large section of British industry have not been fulfilled, although the year has lieen productive in' real progress in building a more solid foundation for a general improvement of the world's economic conditions than any other year sinoe tlio Armistice. The adoption of the. phm. the defeat of the Raclicak at the [>olk in Britiim and the United Suites, and the curbing, of tho Coninuiuist propaganda in France, have helped to restore ooniidience, the lack of which had previously retarded the post-war recovery. This is indicated in the rise of sterling. There is a deep-rooted feeling that Britain is at last fairly on the way to a steady restoration of trade and of her economic position. It is believed that the improvement in sterling will be consolidated by the real backing of an increased trade balance. The pound is expected to reach par value in dollars at an early date, and progress will be made toward a return to the gold standard. There are. however, "flies in the ointment." The financial position in France is viewed with some anxiety, because the measures taken to improve the value of the franc have not resulted sis well as was hoped, and further French Government borrowing has given rise to apprehension. There are the rumblings, too. of the dissension in the Balkans, and the Spanish Moroccan situation. The condition on the English markets generally is sound.

STERLING SOARING

(AUSTRALIAX AND I».Z. CABLE ASSOCIATION.) (Received December 28th, 5.5 p.m.) OTTAWA, December 27. Sterling. has reached a new level of 4.72J dollars. Other European exchanges, while.moving within a narrow range, also reflected sterling's buoyancy by making general gains. Special importance is attached to sterling's rise, because it is evidence of an accumulation by banking interests'and an indication that the greater part of the business in sterling is connected ivith the prospect of tho resumption of special payments in England and a return to paritv. MEAT PRODUCERS' BOARD.

GISBORNE FARMERS' RESOLUTIONS.

(PBESS ASSOCIATION TturfoEAM.)

GISBORNE, December 27.

The annual meeting of the Farmers' Meat Company carried a resolution protesting against the-action of the Meat Producers' Board in again excluding the Admiral Codrington from the New Zealand freight contract, thus preventing the ship entering the New Zealand trade to the serious loss and detriment of shareholders of the company. The meeting called on the Government to see that all trust combines were absolutely excluded from owning or working freezing works in New Zealand; that legislation be provided so that such owners may directly elect representatives on the Producers'' Board; that the mercantile representatives on the Board be done away with:

NEW COMPANIES. Registration of the following new companies is announced in last week's "Mercantile Gazette": Brunner Collieries, Ltd., Regd. December 12th, 19'24. Capital: £30,000, into 300 shares of £loo' each. Subscribers—Eecfton: Isaac Patterson 1. Greymouth: C. N. Taylor 2, J. McLean 2. Brunner: Sydney Fry 1, F. Williams 1. Christchurch: James F. Jack 2. Wellington: Arthur J. Seed 1. Objects: To carry on business as coal mine owners, etc.

Al Coal Company, Ltd. Regd. as a.private company, September 20th, 1924. Capital: £SOOO, into 'SOOO shares of £1 each. Subtori:' John Harris 1230. Christchurob:- John T. Priestnall 1250, William H. Brice 625, William H. Robinson 625. Rangiora: David R. Hutchinson 1250. Objects: Coal mining, etc., at Burke's Creek, near Reefton.

Wild and Robertson, Ltd. Regd. as a private company December 20th, 1924. Capital £SOOO, into 50 shares of £IOO each. Subscribers—Greymouth: J. S. Robertson 45, A. L. McKay 1. Hokitika: R. Wild 4. Objects: To carry on business as accountants, mill owners, .ihip owners, importers, exporters, etc. Karamea • Shipping Companv, Ltd. Regd. November 26th, 1924. Capital: £IO,OOO, into 10,000 shares of £l'each. Subscribers—Kararuea: Malcolm McLean 250, James Jamieson 50, Jafcles R. Sfmpson 50*, Robert C; Tunnicliffe 100, Alfred F. Harris 100, Phillip R. Hawea 500, William R. Simpson 50. Objects: To carry on business as shipowners, etc., between ports of Karamea and Little Wanganui and elsewhere. Another Chanoe Kawarau Gold, Ltd. Regd. December 15th, 1924. Capital: £3OOO, into 32,000 ' shares of 5s each. Subscribers: Auckland: J.-F. Bailev 200, J. W. Shaw McArthur 200, H. S. Smith 200, P. M. Thompson 200, J. B. D Esam 200, A. E. Wakeman 200," J. B. Luxford 200. Objects: Gold mining, and general incidental.' Kaingaroa Plantations . Syndicate, Ltd. Regd". as a private company, December 16th, 1924. . Capital: £12,000, into 24- shares of £SOO each. Subscribers—Auckland: N. Cairns 6 p.u., P. M. Thomson 1, J. H. Herrald 1, I: R. D. Esam 4, M. E.-Denniaton 1, E. Brady 1,- W. Harvey 1, L. J. Manle 1, David Markham 1, C. Macklev 1,-S. L. Hirst 1. Wellington: L. T. Watkins 1„ G. A. Ginn 1, F. Goldberg 1, R. O. Chesney 1. Objects: Afforestation', deal in land and plantations, ar.d general incidental.

j WHEAT. ■* * r

(Received December 28th, 5.5 p.m.) NEW YORK, December 27. Chicago wheat quotations are:—December 178 i cents per bushel; May 177; July 151 1-5. REILLY'S DUNEDIN MARKET REPORT. ACTUAL PRICES SECURED FOR CHRISTCHURCK CONSIGNORS AT j SATURDAY MORNING'S SALES:— Unfortunately, owing to the wet weather experienced, prices are lower. Grapes 3a, 3b 3d, cherries Is 9d, Is lid, 2s, tomatoes, locals Is 7d, Is 9d, Christchurch Is Sid, Is id,'l» 6sd, peaches, desserts 4d, 7d, cooking 3id, apricots, dessert sid, 6Jd, cooking- 3sd, 4d, black currants SJd, 4Jd, red currants 5d 5Jd, French beans SJd, 9d, peas 2jd, 3Jd, 4d, raspberries 9d, lid, loganberries Bd, lOd, apples Bd, 9d lb, cucumbers 9s 6d dozen. CONSIGN TOUR PRODUCE TO: REILLY'S CENTRAL PRODUCE MART LTD., DUNEDIN. PROMPT ADVICE AND ACCOUNT SALES AND HONEST SERVICE ARE ASSURED. 6