STOCK SALES

Press, Volume LXXXIII, Issue 25085, 17 January 1947, Page 8

STOCK SALES

ST. ANDREWS •’ The Press ” Special Service TIMARU. January 18. The St. Andrews sale was art excellent one for quality cattle. A medium yarding of approximately 50 head of fat cattle was penned. Good quality beasts were in short supply, and competition wa# very keen lor prime sorts, values holding very firm for this class of cattle. Value# were:— Fat Cattle. —Extra prime heavy steers, £lB 2s 6d to £2O 12s 6d; medium prime steers, £l5 7s 6d to £l7 7s 6d; lightweight to £l2 2s 6d. Prime heavy heifera. £l7 2s 6d to £2O 2s 6d; light to l medium. £9 2s 6d to £l4 7s 6d. Prime heavy cows, £l5 2s 6d to £l7 2s 6d; light to medium, £7 2s 6d to £l2 2s 6d, Store Cattle.—Two-year-old steers and heifers,<£ 9256 d to £l2; fat lambs, to 25s 7d; rape lambs, to 21s 6d. ESTIMATED N.Z. WHEAT YIELD NEED FOR CONSIDERABLE IMPORTS SEEN Commenting on the estimated wheat area for 1948-47, which is the lowest since comparable data became available in 1879. the Abstract of Statistics for October state* that the yield may be a little more than 4,500,000 bushels (the acreage being 140,000). The Abstract adds that as annual needs for direct human consumption alone are about 7,500,000 bushels, it is clear that very considerable ‘imports will be necessary. The estimated area for oats for 1946-4 T (160,000 acres) is also the lowest yet recorded. and represents a decrease of more than 22,100 acres compared with actual 1945-46 sowings. FIELD FOR TEXTILE 1 EXPANSION * The Press ” Special Service AUCKLAND, Jan. 18. Indications that there is a wide field for textile expansion awaiting devolpmqgK in Australia, as in New Zealand, are substantial new issues Of capital. There # reported to be great scope for rayto piece goods manufacture in the Common wealth. Latest capital projects include an incisase from £78,333 to £128,333 by Jsntten (Australia), Ltd., which is issuing SO,OOO 5 per cent, preference shares, nd by Prestige, Ltd., Melbourne, manufactoßM of hosiery, lingerie, and other soft which plans to expand authorised toMp tai from £250.000 to £1,000.000 by creating 200,000 5 per cent. £1 preference, 348.683 £1 ordinary, and 402,634 10s ordinary shares. Over the last 21 yean the average Prestige ordinary dividend. Ml been 11 per cent. The new capital is needed to help finance the growing actlVities of four subsidiaries. No details of the offer to shareholders have yet been given. Truth (N.Z.), Ltd.—Because of lower tax requirements, the net profit of Truth (N.Z.), Ltd., rose £1248 to £4376 for the. year ended September 30, 1946. The amount provided for taxation was £5192, against £7716 in 1945. Preference dividend of 5.6 per cent, for the 12 month# ended March 31, 1943, was paid during the year, absorbing £2BOO, and the director! now recommend payment of a preference dividend at the rate of 5.6 per cent, per annum for the six months ended September 30, 1943. This will require a further £l4OO and will leave a credit baltence in the appropriation account of £14 5 439, against £14,263 at the opening of the year. Preference dividends are tiftee years in arrears. Tingey and Co.—R. and E. Tingey and Company, Ltd., paint merchants, Welling- I ton, advise that the half-yearly prefer- , ence dividend of 3 per cent., free of security taxes, due on December 31, ha# been paid. Australian Provincial Assurance.—The net profit of the Australian ProvindM Assurance Association, Ltd., is £34,221 for the year ended September 30, against £38,678 the previous year. Unchanged dividend of 2J per cent, amount# to £9OOO. Bonus to policy-holders is £20.077, against £30,534 the previous year. Carryforward is increased from £11,712 to £16,856. Premium income of the life branch rose by £31,320 to £339,142. Avail- ■ able net surplus of the account is £7411. i Grey River.—The return of the Grey River Dredging Company, Ltd., for the fortnight ended January 15 was 482.8 ounces in 253 hours from 187,881 yard#. December totals were: 517 hours, 390.028 yards, 1041.8 ounces. 1946 totals were: 6046 ho-rs, 4,572.202 yards, 8392.74 ounce#.