MEAT EXPORT FIGURES

Press, Volume LXXXVIII, Issue 26662, 22 February 1952, Page 9

MEAT EXPORT FIGURES

92,742 TONS KILLED IN FOUR MONTHS-

(New Zealand Press Association) WELLINGTON, February 20. Killings of frozen meat for export from October 1, 1951, until February 2 thi< year were 92,742 tons, 4415 tons more than the 88,327 tons killed for the corresponding period last year, according to figures released to-day by the New Zealand Meat Producers’ Board. Stocks in store-on February 2, 1952, were 54,935 tons, compared With 49,404 tons on February 3 last year. Of the total killings for export, lamb at 70,131 tons, compared with 87,929 tons last year, easily headed the list, with ewe mutton, at 7995 tons compared With 6388 tons last year, next on the list.

Wether mutton killings were 4310 tons, compared with 1539 tons last year; baconer sides 2847 tons, compared with 3214 tons last year; and bull beef 1244 tons, compared with 1594 tons the previous year. Total North Island killings were 86,899 tons (63,947 tons last year), and in the South Island, 36,043 tons 724,380 tons last year).

RESERVE BANK RETURN

CONTRACTION OF NOTE ISSUE

A contraction of £788,000 in the total of bank notes on issue is shown in the latest return of the Reserve Bank. The return, for the week ended February 13, shows bank notes on issue at £62,902,000. compared With £63,690,000 the previous week. For the week ended February 6, the note issue declined £147.000. Sterling reserve held by the bank increased by £1,148.000 to £24,469,000. The week ended February 13 was the second week in succession when the sterling increased. Following is the bank’s statement:—

MILNE AND CHOYCE, LIMITED

PETITION TO SUPREME COURT (New Zealand Press Association) AUCKLAND, February 21. The hearing by the Supreme Court of a petition by Milne and Choyce, Ltd., for approval of changes in the company’s capital structure was adjourned to-day until April 1 by Mr Justice Finlay. The hearing was previously adjourned from December 17. The hearing of a counter-petition presented "by Mr S. O. Niven was also deferred to-day until April. On November 6, 1961, proposals by the directors involving the conversion of all share and debenture Capital into ordinary shares, a bonus issue to ordinary md preference shareholders, and a subsequent new issue at a premium were approved bv the company’s share and debenture holders. The scheme was opposed by Niven and others.

FINANCE FOR LOCAL BODIES

(New Zealand Press Association) HAMILTON. Feb. 20. The Central Waikato Electric Power Board to-day decided to ask the Minister of Finance (Mr Holland), through the executive of the Electric Supply Authorities’ Association, for a definite statement on finance for local bodies. The board considers that if enough money is not available from private lending institutions adequate funds should be made available by the Government, at present-day rates of interest.

a WOOL PRICES AT PERTH

(N.Z. Press ASsociatton—Copvtight) PERTH, February 21. Britain, America, and the Continent competed strongly at the Perth wool Sales yesterday. Compared with the January sales in Perth the market closed with Merino fleece and skirtings 5 to 10 per cent, lower, comeback and fine crossbreds 5 to 10 per cent, lower, and lambs 5 to 10 per cent. down. All but 10 per cent, of the offering of 13,000 baits was cleared. Top prices were 96d for eight bales of super 64*8 and 93jd for four bales of super 60's.

CEYLON TEA SALES

(N.Z. Press Association—Copyright) COLOMBO, Feb. 20. Demand was good at this week's Colombo tea sales, though good medium and brokens declined as a result of splitting catalogue lots. The offerings totalled 3.291,8691 b. High-grown broken orange pekoes realised 230 cents per lb, medium liquoring broken orange pekoes 182. medium liquoring orange pekoes 190, low medium broken orange pekoes 160, low medium dust 225 cents.:

Liabilities Feb. 6 (£000) 1,500 63,690 General Reserve Fund Bank notes .. Demand liabilities— Feb. 18. (£000) 1,500 62,902 State 18,411 14,252 Banks 58,777 61,336 Other Other currencies 530 327 46 47 Other liabilities 5.360 5.325 Total 147.526 ilwrt Assets ReserveGold 5.590 5,589 Sterling exchange .. 24,469 33,321 Other exchange 1,513 1,609 Subsidiary coin Advances to State— 578 573 Marketing .. 1.032 955 For other purposes «. 50,046 50.078 Other advances . .. 6,019 6,019 Investments 54,182. 54,182 Other assets .. .. 4.098 4,151 Total .. 147,526 146,477