INVERCARGILL WOOL

Press, Volume LXIV, Issue 19220, 28 January 1928, Page 12

INVERCARGILL WOOL

SALE. BEST OF SEASON TO DATE. (PRESS ASSOCIATION" TELEGRAM.) INVERCARGILL, January 27. The wool sale held at Invercargill today proved to be the best so far this season in New Zealand. There was a full bench of buyers, and competition throughout was of the keenest. No better description of the sale can be given than by stating that, as compared with the second sale last year, values showed an appreciation of 2d to 3d per lb for good luilfbred and tine crossbred wools. The appreciation in the coarser classes, though substantial, was hardly so good. The wool was lighter and brighter than last year, and was always in keen demand. The few lots passed at the sale were satisfactorily dealt with afterwards. A line of super halfbrcd ewe wool brought 27d, which is staled to be the record price this season. Over 24,000 bales were disposed of. Following is the range of prices, those for the previous sale, last March, being

N.Z. BUTTER. COMPETITION IN AUSTRALIA. (BI CiBLI PH*BB ISSOCUTIOK—COPTBIOHT.) (AUSTitALUN AND K.2, CAULK ASSOCIATION.) MELBOURNE, January 27. At a meeting of the Australian Gutter Stabilisation Committee, a very serious view was taken of the importation into Australia of New Zealand butter, and the fact that largo quantities had been purchased for forward delivery up to March and April next. it was stated that the output of butter over the main producing States was sufficient this season to meet all requirements in Australia, consequently the substantial purchases made from New Zealand are considered a menace to industry. Because of/the definite probability of increasing competition from this source the committee recommends all the States to fix local values on such a basis that encouragement will not be provided for flooding the market with these imported goods. The committee is desirous of arousing the interest of all factories in this question, with a view to each doing all in its power to discountenance profitable trading in New Zealand butter by distributors, wholesale or retail.

CHRISTCHURCH GAS CO. ANNUAL REPORT. The annual report of the . Ohristchurch Gas, Coal, and Coke Co., Ltd., states: — "Your directors have pleasure in submitting the accounts tor the year ending December 31st, 1927. "Considerable progress has been made since last year in many directions. Main extensions for the year have totalled tan and a half miles, of which seven miles form part of the Trunk Main Extension scheme adopted to improve the supply to outlying suburbs in which the demand has rapidly increased of late years. \ "Five hundred and seventy-three new consumers have been added, making a total of 23,085 "We have still a most satisfactory demand for gas cookers, 1634 having been fixed during the year, and our sales of gas show a steady increase. "The renewals and extensions to the manufacturing plant at the works, referred to in our last report, have been completed. The first section of the new rotor benches in the horizontal retort house has been erected and is in operation; the material for the second section is. now under order. The new exhausters, condensers, and washers have been erected and are working most satisfactorily. Liberal provision I for depreciation has been made, ! £14 ; 265 16s 5d having been charged against revenue.' "To meet the cost of the extensions in both the manufacturing and distributing plants and provide for future requirements, your directors decided to make a further issue of 100,000 shares, which were offered to shareholders in the proportion of one share to each three shares held; the issue was oversubscribed, but your directors decided not to allot the whole of the additional shares applied for, but to allot on the basis of the quota to which shareholders were eutitled. The total allotted was therefore 94,330 shares, leaving a small balance of 5670 shares available for issue as required. "Your directors recommend the payment of a dividend of 4 per cent, making, with the interim dividend already paid, 8 per cent, for the year, and to carry forward the balance of £6566 8s lOd. "The retiring directors are Sir George Clifford, Mr F. I. Cowlishaw, and Mr Richard Allen, who offer themselves for re-election. "Two auditors have to be elected. — W. M. Reece, chairman." The revenue account, after allowing £14,265 16s 5d depreciation for buildings and plant, shows a credit of £22,271 10s 9d, which added to the balance brought forward from the previous year £7SI3 2s lTd makes £30.084 13s 8d to the credit of the profit and loss account. The interim dividend of 4 per cent, absorbed £11,573 6s 4d. and the final dividend will absorb £11.944 18s 6d, leaving £6566 Ss lOd to be carried forward. HAWKE'S BAY RAM FAIR. (PBE3S ASSOCIATION TELEGBAM.) HASTINGS, January 27. There was a good attendance at the second day of the ram fair. Lincoln, better sorts, sold at 5 to 8 h guineas. Southdowns were largely represented, and bidding was very brisk. Practically every line was quitted at satisfactory prices. The figures ranged from 5 to 9 guineas for ordinary good quality, but superior lines realised from 10 to 15 guineas. Corriedales were a small entry. One' lot realised 9 guineas. Ryelands also were a poor entry, but brought 6 to 8 guineas. The few English and Border Leicesters submitted brought from 5 guineas for Barter! to 6 guineas for Leicesters,

given first: — d. (1. d. d. Hiilfbrpd— Super — - - 2:! to 27 Medium .171 i<> 10.; 22 lo 24 Inferior 15 to 1(5 A 111 to 21 Fine Crossbred- - Super 10 17 in to 2] Medium :i."> lo lli'l17 to 10 Inferior J J.! 10 34; J 5 to 10A Medium Crossbr edSuper 115 to 17 m to 10 Medium 14J to Jli .14 A to ](5J Inferior 3 2 A to 133 ]3| to 35 Coarse Crossbred— Super 133 to 15 .14 to 1(5 Medium 3*A to lot 13 A to 15 Inferior JIJ to 12] m to 34 HoggetSuper —• — 1S to 20 Medium 353 to 17 .1(5 to 38 Inferior 13 to 15£" 14 to 16 Pieces — Extra good 15 to 17 15* to 174 1st crossbred 3 2 J to 14 13 to 15 2nd crossbred 93 to 32J 10 to 13 Bellies — 1st crossbred .11 to 13 32 to 14 2nd crossbred < 9J to 11 n to 12 Crutchings— 1st crossbred S to n 11 to 32 2nd crossbred 5 '{ to n 5 A to 8 Necks — First fine .. 144 to JO .15 to 10$ Seconds 12 to 14 13 to 15 Locks (1 to S 7 to 9