Company News FARRIER’S NEW ISSUE

Press, Volume XCVII, Issue 28532, 11 March 1958, Page 17

Company News FARRIER’S NEW ISSUE

Farrier Waimak, Ltd., will shortly maxe an issue of 30,000 5 3 ,« per cent, cumulative preference shares of £1 each, at par. This follows a decision at a special meeting of shareholders of the company in Christchurch yesterday. The offer is expected to be in the hands of shareholders on March 12, and will close on April 11. Of the new issue, 7500 shares are being issued in capitalisation of existing loan moneys, 10,000 are being taken up privately for cash and 12,500 will be offered to existing shareholders as at March 10, but not in any fixed ratio. The issue has been underwritten by a firm of Wellington sharebrokers. Mount Lyell Checks Loss Mount Lyell Mining and Railway Company carried out mining operations without incurring a loss in the half-year ended December 31, directors state in an interim report. This was a result of higher copper output and the fact that the Australian copper price current during the period was higher than world parity, they state. In the last full year to June 30, Mt. Lyell incurred a loss of about £90,000 from mining operations, the chairman, Mr W. E. Bassett, said in the annual report. However, dividends of £253,057 from investments resulted in a net profit for the. year of £164,540 against £630,168 earned in the previous nine months.

Interim dividend for the latest half-year is unchanged at 6d tax free a 20s share.

Wattie’s New Issue (New Zealand Press Association) WELLINGTON, March 10.

J. Wattie Canneries, Ltd., advise that they propose, subject to confirmation by shareholders, to make a cash issue of 100,000 5¥4 per cent, cumulative redeemable preference shares of £1 each at par. These shares will be redeemable at par on July 31, 1978. A meeting of shareholders will be held on April 2 to approve the directors’ proposals. The issue is to be underwritten by Messrs Daysh, Renouf land Company, members of the | Wellington Stock Exchange; 30,000 shares are being reserved for application by shareholders registered on April 2, and the balance of 70,000 shares have been taken firm by the underwriters. Farmers’ Stock Proposals A meeting of the stockholders of the New Zealand Farmers’ Cooperative Association of Canterbury, Ltd., has been called for May 12 to consider proposals relating to the maturity dates and rates of interest on the company’s stocks. The total amount of stock at present issued by the company is £657,368 12s, maturing at various dates between 1959 and 1965. The proposals embrace the extension of all the respective maturity dates by 10 years, and an increase in the interest rates on all holdings from 4% per cent, to 5% per cent. If the necessary resolution is passed, the. rise in the interest rates will become effective on the same day, May 12. The proposals have the sanction of the Capital Issues Committee, and have been approved by the Guardian Trust and Executors Company of New Zealand, Ltd., as trustee for the shareholders. Woolworths (New Zealand).—Wool - worths (New Zealand), Ltd., has announced an unchanged interim dividend on preference shares of 4} per cent. Last year’s total preference dividend was 9 per cent. The dividend is payable on April 15, and the shares are ex dividend on March 22.—(P.A.) Consolidated Finance.—The Consolidated Finance Corporation advises that the response of shareholders to the offer by Lombard Banking, Ltd., has been very favourable. Acceptances have exceeded the required total of 60 per cent. Acceptances by individual shareholders which exceed 60 per cent, will be subject to some abatement.—(P.A.) EXPORT MEAT SCHEDULES Increase In Beef Prices A general rise in the price for beef is shown in the latest export schedule, which became effective yesterday. Most grades of baby beef, F.A.Q. beef and G.A.Q. beef are up by 10s per 1001 b, and boner beef has been increased by 5s per 1001 b. The only unchanged items are all weights of cow, both F.A.Q. and G.A.Q. Prices in the latest schedules, which became effective on March 10, with the variation since the previous schedule, are as follows: Beef

APPLE AND PEAR SHIPMENTS Hawaiian T rade Increased (New Zealand Press Association) WELLINGTON. March 10. The New Zealand Apple and Pear Marketing Board hoped to increase its shipments of apples and pears to Honolulu this year io 27,000 cases, said the assistant general manager (Mr D. L. Waller) today. Earnings were expected to be about 160,000 dollars, he said. Last year the board sent 4000 cases of apples and 2000 cases of pears to Honolulu. The 25,000 cases of apples the board hoped to send this year would consist of 20,000 cases of Granny Smith—just the sort of green gpple the Honolulu market wanted—and 5000 cases of Delicious.

Var'n. per 1001b per 1001b Baby beef— s. d. S • d. Ox, 400-6401b 110 0 4-10 0 Heifer, 400-6401b 102 6 440 0 G.A.Q. Beef— * Ox, under 8001b .. 110 0 4-10 0 Ox, 801-8401b 100 0 4-10 0 Ox, pver 8401b .. 95 0 4-10 0 Heifer, under 8001b 102 6 4-10 0 Cow, all weights 85 0_ N.C. F.A.Q. BeefOx, all weights .. 105 0 4-10 0 Heifer, all weights 100 0 4-10 0 Cow, all weights 85 0 N.C. Boner Beef— Cow, all weights 107 6 +5 0 Ox and heifer, all weights 107 6 4-5 0 Bull, all weights 130 0 4-5 0 ———