LATE COMMERCIAL

Press, Volume LXIII, Issue 18924, 12 February 1927, Page 20

LATE COMMERCIAL

- ♦ SOUTHLAND MEAT COMPANY. THE AN.M'AI. REPOnT. TTif nnnnaf report of fin- Southland Frozen Meat and I'iclu-o Kxjor' Company, Ltd., to be presented at. ;> cutting of shareholders in liiverr.-rgill <>u Feb. ruary 19th, state* that the balam-e available for appropriation alter making the iimjhl provision for depreciation and for miitirijreneiejt, and the payment of an interim dividend of £5077 7s at the half-year, h £.11,4 M IS.i (>d, which the dircetor-i reeomiuend should be disposed of a<t follows: —My '.he payment of a final dividend for the year of ~> per cent. on th.' paid-up capital (making 10 per i-enl. for the year), £."<>77 7a; and that flu- balance' he carried forward, lis fid. The directors retiring h v rotation are Meosrs W. T. Hazlett and A. S. Hnlins, who, boine; eligible, offer themselves for re-election.

CONVERSION LOAN. STATEMENT BY MR CHURCHILL. (»T r»»t.r— TUT.** AtWOrtHTIO!*—COrTBtOHT.) im-STHALUW A*D X.Z. CABLE ASSOCIATION.) (Ifrrcivrd February 101 hj, 7..1j i>.m.) LONDON, February 10. In tlm Uouso of Commons Mr Churchill announced that 1:109,785,000 north of bonds had heen converted to a new four per cent, consolidated loan. Th« total amount of new stock created wjis 133,fif10,000, and tho cash proceeds were £69,105,000. Th© annual interest o;t th© new stock «va» estimated to show a aaving of £492,000 a year, compared with tho old Bccuritics. BANK OF ENGLAND RETURNS. (■T rAßLS—rins Assocwnoir—corraionT.) (ifSTBAUAS km U.S. CABU ASSOCUTIOK.) LONDON, February 10. Th* following are tho Bank of England returns for the week ended Wednesday:— Issue Department. Note circulation m 136,909,000 Notes in reserve J, *» 31,724,000 Tolsl - h sm 168,693,000 Qovernment debt *■ M 11,016,000 Other securities * +, 8,736,000 Gold coin and bullion <* ri> 148,943,000 Total M m, «. 168,693,000 Baßktns Dtrartment, -• ■ ' * Proprietora' capital «. » Rost M i A 8,610/DOO Pnbue d«poaiU _ *, i, 14,730,000 Other deposits _ +, 105,635,000 Bev»nday and other bill* m 3,000

Total - • «■ m 138,611,000 Govcrnmant Mcnrlttea _ w 29,873,000 Olbcr Mcurititt m 75,668,000 Notaa in reunre ■* * 81,724,000 Cold and •ilver cottf £ £ 1,2«,000

v Total - * J» 188,511,000 Proportion of ream* l» tuwflities, 87.3 par cant. Short loan* am quoted at '4 per Mat.; tliiM month*' bill* at 4} per ctrat.

v FOREIGN EXCHANGE BATES.

LONDON, February 10. Th* exchange rates on London are as follows:

• , , Par. Feb. 7. Feb. 10. £tris, it. to XI .. 21.291 123.37 123.53 Brussels, b»lgasto£l 6 84.87 34.89 Oslo, kr. to ll .. 18.159 18.79 18.84 Copenhagen, kr. toll 18.169 18.19 18.20 Stockholm, kr. to 41 18.159 18.17 18.17 Bttlin, Hofehmarken

_ toil .. .. Montr**), dot. io £1 4.86] 4.861 4.852 New York, dol. toil 4.56| Yokohama, at, to yen 24.5 2U 211 Home, lira to £1 .. 35.22) 113.63 113 Calcutta, at. to rp* 16 to gold *

«■ f » . .18 18 Host Kong, at. to dol. * 25} 20J Amsterdam, fl. . .. 12.107 d 12.13 12.121 BiUris, .. m _ nil 12.10, * Gowned by price of tiher.

.GOVERNMENT SECURITIES. IrOSDOH, »*rnary M, - tfcs following an fha latest Quotation* for . Gewaaent teeuritJea eomparetl with '• the prkts ruling on February Ms** rsh, a, 7eb. 10. lapttisl Oonsols, 91 War Loan, a| 9.04 . . IBM. ~f> M I 68 XO 0 OttrtttJen Lota, 81 - Mil MIH 0 OtstMunrttlth, 6 _ PA, 1939-37.. 101 I d lOC . 6 Otamoawealth, SI ■•.-'■'•*- . , •i«00* | 101 fl 0 Haw Zealand. 6 , pen 1988-51 „ 100 10 f 106 T 8 HtwXeata&d, 4 p.e, . U 1939 .. 03 f 6 98 9 6 Haw Xttriaad, 81 p.e----1940 .. «0 I fj 86 C 0 *M«w Xealaad, 9 p.c, 1948 ~ M U 0 T6 15 0 Raw South Walts, . . , «Jp.e» 1880-40 lOt I 8 101 S 0 Htw South Wales, ' • PA, 1930-40 10t || 101 fi 0 «tw South Wales, 5| p*, 1933-33 200 I I 100 S e Hew South Waltt, 4 p.c. IMS ~ M f 9 90 f 6 Ktw South Waits, 3 p.«. .. 81 M 8 81 10 0 Kcw Sooth Wales, ■ 81 p.e. .. 71 13 A 71 7 0 Victoria, S P.c .. 101 10 0 101 7 6 Vkterla, 8) p.e, 1980-40 ... W 17 « 99 13 6 Victoria, 41 p.c, 1931-SS .. 94 9 8 94 3 0 Victoria, 8} p.c, 1930-43 .. 76 13 6 76 13 6 Victoria, 3 p.e, 1938-40 .. 70 15 0 70 10 0 QttmsUad, 8 p.c, 1030-40 ..101 6 0 101 10 0 OatjMstaad, 31 p.e, 1980 .. 93 3 fl 02 17 6 Quteasttnd. 8 p.e, 1933-47 - .. 68 10 0 67 17 6 Strata Atttralla. 61 p.e, 1980-40 .. 103 3 8 103 2 6 South Australia, 31 p.e, 1939 .. 83 17 8 82 12 6 Sooth Australia, 3 I>,c, 1916 or after .. 89 5 0 59 7 6 West Australia, 6 p.e. 1930-40 .. 101 5 0 101 5 0 West Australia. 31 p.«, 1920-25 .. 88 7 6 88 7 6 West Australia, 8 p.e, 1916-95 ... 84 10 0 84 5 0 Tasmania, 61 p.e, 1930-40 ..103 6 0 102 15 0 Taamaala, 31 p.e, 1930-40 „ 11 3 I 8.1 10 0 Tasmania, 8 p.e, 1930-40 .. 77 0 0 77 5 0

BRADFORD TOPS. (rleceired February 11th, 7 p.m.) LOJTDON, F«bru*7 10. The Bradford wool tops market u firm with «n upward tendency, cpiooen showing ' , hoi* iatwmt Quotations %m: «'• quality ***** P ' M> m jgSfcys■s* !»' •»«• ««• bSSdUa wire ■ SHt«j*S*fe»»J* I jrtHttai meeting H SSSSniIBSSS' *"**«* «»* »«• Conasm ipMWH piraMMattg* CoatsazaA wtih T>«- ■ ' f "fSBF MMlkalftitfa, ibrat-qutrtert ■ ••> ""•"•StS **£*' P» "to '» Mr e«nt. ftorw, m4iam*nta»a» pat to 7) par cent K mm, taw wru par to So per watd*™ jtkMt.wMNaJi par to 71 piTero*. dearer. **"**** W Mil, bat priew wtiv-uchaaftd.

CEREALS.

(n casts—puss Asiocunov—eormoßT.) (WKlAUajr iJTB ».I. CABLS JJaSOCUTIOM.) (Received February 11th, 0.30 p.m.) LONDON, February 10. For wheat cargoes the demand is slow, owing to tho expected heavy Plate shipments and free offers of Australians. Quotations are threepence down, and parcels ate obtainable at decline of 3d to 6d, but buyers did not respond. Quotations for Liverpool wheat futures' an: March, 10s 41d • cental; May, 10a lfd; July, 10s Sid. Tho spot trade Is fairly active, and prices are dearer. Australian •X ttoro is quoted at 57s a cwt. Flour Is steady, Australian ex atoro being quoted at 42a • cwt. Oats—The market is quiet. Australian Algerian are quoted at 38s to 20s a cental; A grade Gartona at 30a to 81s. Peas —Blues, dull Tasmanian, are quoted at 400s to 480s a ton: New Zealand, 400J to 4605. Maples are In short supply, and very firm. Tasmanian are quoted at 120s to 135 a, and New Zealand 110s to 115s. Beans —New Zealand are quoted at 46s to 48s per bushel. METALS. (Received February 11th, 9.20 p.m.) LONDON, February 10. Copper—Standard, spot £54 6s 3d a ton; forward, £sl 16s 3d. Lead—Spot, £27 7s 6d a tou; forward, £27 17s 6d. Speller-Spot, £29 10s; forward, £2O 18s 9d. Tin-Spot, £3OB 2s 6d; forward, £235 17s 6d. Silver-Standard, 26 13-16 d per oz; fine, 28 15-lCd. ROYAL SHOW LAMBS AT SMITHFIELD. In connexion with, the cablo received from London yesterday regarding the prize lambs from the Royal Show, which was held at Auckland last November, and which wcro judged at Smithfield, it is very satisfactory to note that the judges considered them otic of the finest displays of iamb seen on thi Smithfield market, and it if also pleating to note that tho dressing, condition, ami general finish of them were excellent. Messrs Harrods, Ltd., purchased tho whole of the 93 carcase* for the purpose o! ltiiikin;; a epecial display in their atore. With tlto object »'. breeding tun richt class of lambs moil suitable for the Dominion's export trad', and the. lypo most desired to keep up Nrw Zealand a "P; ,, » li "'« on the London rccixet, the >e* Zealand Meat Producers' Board intimht'l \h<*« classta into the Royal Show, fv 1 jnd»vidual lamb in tho P*n "»» »» "•""*' ,w ' "!"," weight and to bo judged on the >b,« Kioorrf before being killed. All the laroba entered ir. 1l.s» el*"* *"'" shipped Homo to the Botrirt lf"»'»» n ( agerj who arranged for a »p«">> •'••My •'' ?liem on Smithfield. Th. ?'""%??'„%& Ed by three ji.'!s;e« appoinM b? the, l»» t.«h ineomomte,! j iWy of M*»l lmpwlw.. PriS for the Wlol of <hre* ..re..* at Ldged on Srr.itbf.eM were ••■««*'•. *"' 7* Set* Hoard ■• Wlowtv-Hwl P«« *«»• fecund priw an-l third, pri« *'•