AUSTRALIAN FREIGHT RATES STABLE

Press, Volume XCVIII, Issue 29051, 13 November 1959, Page 17

AUSTRALIAN FREIGHT RATES STABLE

(N.Z. Press Association—Copyright) SYDNEY, November 12. Australian exporters and overseas shipping companies have reached agreement on new freight rates, according to an announcement made here.' The agreement leaves freight rates for the current 1959-60 season at the present level’ and fixes new rates for seasons 1960-61 and 1961-62.

Bunting and Co.—lnterim dividend of 3i per cent, is payable on November 25, ex November 24. Last 1 year’s interim dividend of 31 per cent, was followed by a final payment of 4} per cent.—(P.A.) . William Cable.—lnterim dividend .of 3 j ■ per cent, on. the ordinary . shares is payable on December 18, i ex November 19. Total payment I last year was 7 per cent.—(P.A.) i Leyland Investments.—Net profit of Leyland Investments, Ltd., Auckland, was virtually unchanged at £7972 in the year ended September 30. This was the company’s second complete year as an investment company. The steady 81 per cent, dividend again requires £7500. i Investment income for the year was £92 higher at £10,857, which was i offset by a rise of £B5 in expenses to £1684. Tax provision was again £lOOO. After deduction of rent and sundry income of £503 (£llll in 1957-58) investment income for the I year equal to 5.1 per cent, of total investments at a book value of £200,095. This compares with 4.9 per cent, in the previous year when a book value of £192,250 was shown in the balance-sheet for the share, debenture and Govemmnt stock portfolio.—(P.A.) ST. ANDREWS STOCK SALE (From Our Own Reporter) TIMARU, November 12. Seventy head of fat cattle were yarded at today’s St. Andrews sale. The quality was mainly medium to good, and prices were fully up to late rates. Store cattle were not offered in quotable numbers. Values were:— < Fat steers, good, £55 12s 6d 12s 6d; medium. £3B 2s 6d to £43 Ws 6d; light, £29 12s 6d to £36 2s 6d. Fat heifers, good, £42 12s 6d to £49 12s 6d; medium, £32 2s fid to £39 17s 6d: light. £2B 2s. 6d to £3O 2s Bd. Fat cowrf, good, £35 2s 8d to £37 12s 6d; medium, £27 2s 6d to £32 12s fid; light, £24 2s fid to £26 2s fid. COLOMBO TEA SALES (N.Z. Press Association—Copyright) COLOMBO, November 10. This week’s auction comprised offerings of 6.2 m lb. Strong general demand was noted. Better liquoring high-grown brokens with useful colour were rather dearer, but light liquoring sorts were barely steady. Medium brokens and low grown teas advanced. Highgrown broken orange pekoe fetched 315 cents per lb, good medium 8.0. P. 255, medium liquoring 8.0. P. 240, medium liquoring broken pekoe 150, medium liquoring pekoe tannings, 300, medium liquoring orange pekoe 240, low medium B.OF 215, low medium pekoe tannings 255,