TIMARU GAS COMPANY

Press, Volume LXXII, Issue 21717, 26 February 1936, Page 13

TIMARU GAS COMPANY

A SUCCESSFUL YEAR DIVIDEND, FIVE PER CENT. (SFBCUL TO n> niHj TIMARU, February 25. A recommendation that a dividend, of 2i per cent, be, paid, absorbing £975 2s 9d out of the amount available for distribution. £1321 14s sd, making, with the dividend ' already paid, 5 per cent, for the full 12 months, and that the balance of £346 11s 8d be carried forward, is made in the sixty-fir ;t annual report of the Timaru Gas, Coal, and Coke Company, Ltd-, for the year ended December 81, 1933, The report, which was submitted to the annual meeting of shareholders tonight, with Mr J. P. Newman presiding, stated that it was a matter for satisfaction that nothwithstanding the period of economic stringency that had had to be met, together with keen competition, the company had been able to hold its own throughout the year. The brighter outlook for the new year, foreshadowed by the general improvement in business, held out hope for a steady advancement ip output during the ensuing year. The re', enue account showed sales lof gas, coke, tar, and sundries to ' amount to £23,002 Us 10d. ! The chairman said that shareholders were to be congratulated on a fairly successful' year, experienced' in the face of a curtailment in use of gas. It was satisfactory that bad debts amounted to only £27 ss. Information from England was to the effect that despite the keen competition experienced, the gas industry was going ahead by leaps and bounds, and there was no reason to think the position would be otherwise in the Dominion. The directors hoped that circumstances would permit of the cuts in wages being restored during the year. The matter would be considered by . the board in due course. The chairman made reference to the death of an old and valued servant, ‘ Mr J. T. White, who had served the . company for 35 years. He also paid a tribute to the long service given by ■ Mr R. H, Ferguson, who was retiring j voluntarily from the board of direc- • tors. . The report and balance-sheet were j adopted. The engineer and manager, Mr A. ■ Morrie Taylor, responded to the ' thanks accorded to the staff, and to the congratulations extended to him- 3 self on his election as president of the i New Zealand Gas Institute; stating that the next conference of that body 1 would be held in Timaru in February ] next year, and would extend over three days, ( Messrs A. Leslie and J. P. Newman, the retiring directors, were re-elected. 1 and Dr. W. R. Pea was elected to fill the vacancy caused by the retirement ! of Mr R. H. ferguson. i Mr A. C, Martin was elected audi- 1 tor. . —' . WHEAT MARKET | i ENGLISH QUOTATIONS i ■ • 3 ;■ 1 LONDON, February 24. ! Manitobas are quoted lid higher . and Australians are held for an ad- \ vane© of 3d. Parcels are steadier. Futures are quoted:— , T . / t v Feb. 20. Feb. 24, 3 London < quarters)— s. d. s. d. i March .. 29 4 29 7 i July .. 29 3i 29 7 - Liverpool (centals)— c March .. eoi 6 18 3 May .. .. 6 0| 6 l| i July 6 2 6 Si The spot trade is quiet. Australian i ex ship 32s to 32s 6d. ] CHICAGO FUTURES NEW YORK, February 24, , Chicago futures are quoted:— ; Cents a bushel. , Feb. 20. Feb, 24. May ~ .. ,99 993 ! July .. .. ~B9| 894 : September .. 86 88§ PRICE OF SILVER * 1 LONDON, February 24. ' Silver is quoted at:—Spot, 19|d; forward, 19 13-16 d a fine ounce. ’ ‘' 1 " : FAT STOCK SALES : I RANGIORA ] * ! Good prices were realised for all classes of stock entered at the Rangiora .market yesterday, when yardings were smaller than usual. Jn the sheep pens, fat wethers brought from 21s to 255, tat ewes from X2s Ocl to 15s 6d, and fat lambs from 24s to 24s 7d. Rape lambs sold at figures ranging from 19s 8d to 21s 7d and store lamos ' from 10s lid to 17s 9d, Sound-mouthed halfbred ewes went to 23s 7d, tailingmouthed lines from 7s to 10s 7d, and twotooth wethers ranged from 16s lid to 19s 6d, Store cows realised £3 15s and calves made 17$ 6d. There was a good demand tor weaners in the pig section, where the ruling rates were: Light baepners to 50s, good porkers to 39s 6a, medium porkers to 35s 6d, light lines, to 30s 6d, medium stores to 26s 6d, others to 2Xs 6d, good weahers 16s, mediums 11s to 14s, and others 8s to }os 6d. ASHBURTON A rise of up to 2s a bead in the price of fat ewes compared ‘with last week’s sale took place at the Ashburton stock sale yesterday. There was keen competition for prime, fat sheep, but there was no demand for stores. Lambs sold at schedule rates. The market wsa topped by J. Moore (Ruapuna), who obtained 80s for one fat wether. Two others offered on behall of a client realised 2Ss Id. The best price for fat ewes was 19s lOd, obtained by E. B. Newton (Ashburton), Four fat lambs offered op account of a client realised 25s lOd. Fat ewes, realised from 12s 10d to 14s lOd for light sorts, to 17s lOd for medium quality, and up to ISs IQd for prime ewes. Fat wethers sold at 17s Id to 20s 4d for light weights, to 24s 10d for medium quality, and up to 26s 7d for good quality. Fat lambs realised 20s 3d to 21s 7d for light weights, to 23s for medium quality, and up to 25s lOd for prime lambs. One fat eow sold at £5 2s 8d and one Store cow at £1 10s. LORNEVILLE (PKI3S ASSOCIATION TCLXGSAU.) INVERCARGILL, February 25. There were increased yardings in all sections except fat fettle at the Lorneville stock sale to-day. The market for fat sheep was much brighter than last week, wethers and ewes showing an increase of Is and Is ffd. Good quality cattle improved by about 15s a head, The fat sheep sale was bright, wethers showing ah improvement of about Is a head, while ewes of all classes were on an average about Is 6d a head better than last week. Prime quality wethers realised from 2Cs to 27s 3d, good quality 24s' td 255, medium 22s 6d to 23s 6d, with light and unfinished down to SOs; prime quality ewes 15s to 17s, good quality 13s 6d to 14s 6d, freezing quality from 10s 6d to 13s. . There was only a small entry in the fat lamb section, and prime heavy lambs made from 25s to 275, good quality freezing weights 23s 6d to 24s 6d, medium quality 21s 6d to 22s 6d, and light and unfinished down to 19s. The yarding qt fat cattle was much smaller than last week, and included in the entry were some very nice quality cows, heifers, and light-weight bullocks. There were no heavy-weight bullocks yarded. Good quality bullocks made from £7 15$ to £8 15s, handy-weight £6 IDs to £7 ss, light-weight .£5 5s to £6; prime quality heifers £6 17s 6d, good quality handy-weight £5 10s to £6.65, light-weight £4 to £4 ISs; prime heavy cows £5 to £5 17s 6d, good quality cows £4 to £4 ISs, medium £3 5s tp £3 ISs, and aged and inferior down to £i lQa. •