WORLD DEMAND FOR WHEAT

Press, Volume LXXIV, Issue 22304, 19 January 1938, Page 11

WORLD DEMAND FOR WHEAT

POSITION OF UNITED STATES AND AUSTRALIA INCREASING REQUIREMENTS rWTED TRESS ASSOCIATION—COPYRIGHT.) CHICAGO, January 17. Mr B. W. Snow, the internationally mown wheat reporter, states that Australia and f he United States are the only two countries in the world able to meet in any degree the rising world demand for wheat. Only Australia can provide wheat in sufficient quantities to meet the needs of Europe, and even this wheat requires a mixture of American wheats to give it the quality needed by millers abroad. The export situation has been improving rapidly in recent months, and before the time when the European domestic crops become available about the beginning of July, more and more American wheat will be needed. The present stock of American wheat is estimated at about 105,000,000 bushels, but much of it is of low grade. COMPANY NEWS WELLINGTON GAS I'THE PRESS Special Service.] .WELLINGTON, January 18. fhe directors of the Wellington Gas Jompany, Ltd., in presenting their sixty-eighth annual report and statement accounts .for the year ended December 31. 1937, state that during the year three miles of new mains have been laid, and 1218 services fixed, t>nd there has been considerable capital expenditure for an additional purifying plant, compressors, and buildings. After payment of an interim dividend of 4 per cent, on ordinary shares, the year’s dividend on preference shares, and providing for depreciation of plant, buildings and machinery, the balance to the credit of the profit and loss appropriation account amounts to £30,007 9s 3d. It is recommended that this sum Should be appropriated as followSr-Tq. payment of 2 further dividend of 1 4 per cent, (making 8 por cent, for the year) £11,152 Bs. and carry forward the balance of £18,854 12s 3d. The profit and loss account shows sales of gas and residuals at £253,716, as against £243.214 last year, which was the best result since 1931. BRITISH WHEAT MARKETS LONDON, January 17. • Wheat cargoes are barely steady and parcels are quiet. Futures are quoted: _ ' Jan. 13. Jan. 17. London (a quarter)— s. d. s. d. January .. 46 3 46 4 March .. 45 10 45 3 Liverpool (a cental)March ~ .. 7 7 7 8J May .. .. 7 6 7 8* July .. 7 8 7 8? CHICAGO FUTURES NEW YORK, January 17. Cents a bushel. Jan 13. Jan. 17. May .. July September RECORD HIGH ■i LEVELS Australian trading banks’ RETURNS SYDNEY. January 18. Returns of 10 trading banks operating in Australia show that in the last quarter of last year, both deposits and •“Vances rose to new high levels. Over the 12 months, deposits rose By £22,760,000 to £314,088,000, and advices rose by £6,691,000 to £274,320,000. WOOLWORTHS, LTD. (T*ESB ASSOCIATION TBLEGRAM.) , WELLINGTON. January 18. wool worths, Ltd., has advised the block Exchange Association that an interim dividend of 5 per cent, on the per cent, preference share capital, ana an interim dividend of 31 per cent, on the 7 per cent, preference shares, nas been declared, and is payable on February 15. SALE OF BRENLEY ESTATE, GREENPABK „The National Mortgage and Agency - ompany of New Zealand. Ltd., report the sale of the Brenley Estate. . Greonpark. This property was taken up in the early days by the early , Pioneer, the late Mr J. H. Pannett. and sold by him to the late Mr Fred. Hubn&rd, and has now passed into the hands of Mr James Washbournc. of the family of early pioneers of Selwyn. The Clearing Sale of live and , dead stock off some 900 acres will be ; held on Friday, tho 28th January, next, by, national mortgage & agency CO. OF N.Z., LTD. PRICE OF GOLD LONDON, January 17. Gold is quoted at £6 19s BJd a fine Ounce.