SHARLANDS—ANNUAL MEETING.

Dominion, Volume 4, Issue 1134, 23 May 1911, Page 8

SHARLANDS—ANNUAL MEETING.

Tlie twelfth annual meeting of Messrs. Sliarland and Co., Ltd., was hold m tho companv's office yesterday afternoon, Mr. Martin Kennedy (acting-chairman of didcctorn) presiding. I?.i presenting the report and balancesheet (a- procis of which has been presented) to the meeting, the chairman stated that the balance-sheet for tho year was satisfactory, the balanco on profit and loss account being £6760 7s. Id., as against £<040 3s. 9d. * last year.- They bad a sum of £6760 7s. Id. for appropriation, and they proposed to deal with this bv paying a dividend of 7* per cent, which would absorb £4350. and to carry £2000 to the reserve fund, and carry forward £<?09. There had been a considerable incrcaso of business' during the year, amounting to £13,522, in the turnover. As was only natural, expenses had increased by £1375, which was nearly 10 per cent, on the> incre.issd turnover. Stock in hand showed an increase of £1750. The book accounts increased by £1494, and the increase in property was £13,032. The increase had vanished again, bccause tliev had bought a property, and sold it- again during the jear (without any loss). As they had found that the increase in the business, and the congestion of stocks warranted larger premises, they had purchased a- freehold property'in Dixon Street for £5000, the section being 77 x 273 ft., and they contemplated erecting a warehouse on the site at a coft of from, perhaps, £8000 to £10.000. Having taken this step, the directors thought that it wouia be unwise to lock up too much capital in property. The motion to adopt the renort and bal-ance-sheet was seconded by Captain Gray.

In answer to a question, the chairman stated that the present premises were leasehold, and it was coiUemplacd that the company would rebuild on the new site in Dixon Street, which would enable a building: ono and a half timos the size of the present building to be erected. Tho adoption of the report and balancesheet was agreed to. Mr. Christopher Smith was Te-clected to the vacancy on the directorate. Messrs. 11. Kcmber and A. S. Biss were re-elected auditors for Wellington, and Mr. Alex. Gric-rson auditor for tho Auckland office.

A vote of thanks was passed to the general manager, the manager in Wellington, and-the manager in Auckland. Mr. 0. Smith raid that he thought the results 'proved that tho manager,'j had done exceedingly well. Considering the auiet times experienced, he thought that the increase in business had been "phenomenal." Tho chairman thought that thev had every reason to te ratisfied with the efforts of their managers, both in Wellington and Auckland, as well as those of the general manager. Mr. J. If. Owen returned thanks as pen**ral manager, on behalf of himself and his managers. FItOZEN MEAT. Uy Telegraph—Press Association—Copyright London, May 21. The Frozen Meat Trade Association's Smithfield market quotations for the undermentioned classes of frozen meat are based on actual sales of not less than one hundred carcasses of mutton or lamb, or twenty-fivo quarters of beet of fair average quality. The quotations arc not for selected lines, but for parcels fairly representative of the bulk of tho shipments now on the market. Tho nrices which follow aro on an average a farthing per lb. more than the valuo ex ship, this difference representing an average cost in expenses, handling, conveyance, and selling tho meat:— May 13. May 20.

HIGH COMMISSIONER'S CABLE. The Commerce a.nd Tourists Division of the Deportment ol Agriculture, Commerce, and Tourists lias received the following cablegram from the High Commissioner for Now Zealand, dated London May 20 (quotations, unless otherwise specified, are average market prices on spot):— Mutton.—The market 13 very arm, and there is a good demand for prime quality mutton. Itiver Plate is in large supply. Canterbury, 33d,, North Island 3Jd. per

lb. Lamb.—The market- is- firm, and there is a pood demand for all lamb. Canterbury 4£d„ other, than Canterbury 41d. per lb. ~ Beef.—The market is quiet. of American chilled beef are large. New Zealand hinds 33d„ fores 22d. per lb. Butter.—The market is dull. Buyers arc holding back, exporting prices to go lower. Choicest New Zealand butter 1055., Australian 98;., Danish 100s., Siberian 965. per cwt.

Cheese.—The market is dull. Some buyers aro forcing sales. New Zealand 595. per cwt., but have just been informed that there ard sellers at 575. 6d.

Hemp.—Tho market is dull. I expect no immediate changes in the market. New Maiand good fair spot, per ton, £20 55.; New Zealand fair grade, £19 55.; forward shipment at the same price. Fair current Manila, £18 10s., snot, per ton; forward shipment, £19 per ton. The output for the week from Manila, was 26,000 bales. Wheat.—Tho market is firm, owing to reduced supplies. New Zealand longberried wheat, ex granary, per quarter o! 4S6lb„ 355. 6d.; nliort-berricd, 345. Oats.—The market is firm, but demand only moderate. New Zealand oat-, short Sparrowbills, ex granary, per nr.arter of 3841b., 20s. 6d.; Danish, per cuarter of 3201b., 17s. 6d. Beans.—The market i-3 quiet, but holders are firm. New Zealand beans, f.a.q. (old crop), per 5011b., 355. Peas.—The market is ouict, and may ho lower. New Zealand peas, partridge, per 5041b., <2-5. 6d. Wool.—The market is firm, but not advanced. Pork.—Not quoted. The season has ended. WHEAT AND FLOUK. By Telegraph—Press Association—Copyright London, May 21. The wheat and flour afloat for the United Kingdom totals 3.550.CC!) quarters: for the Continent, 3,530,C00 quarters; Atlantic shipments, 310.CCC. The total shipments to Europe during the week amounted to 2.C25.CC0 quarters, including 354,CC0 from the Argentine, 910,COO from Kussia. 135,PC0 Danubian, 109.5C0 from India, and 75.CC0 from Australia. P.UBBEB. Fine hard Para rubber is quoted at 4s. Cd. per lb. LONDON WOOL SALES. Tho latest news with rcsnee.t. to tho London wool Kites is not very cheering. The market is weaker and irregular, and there havo beer. consMerntil-! withdrawals. Out of % total of 125,383 bales offered up to Saturday on!v 113,023 sold, thus showing that 11.560 bales had been withdrawn. The market lias been depending upon Yorkshire support inair-ly. and as there i? r.auio prospect of labour trilbies 111 the woollen manufacturing districts, it is not unlikely that wool buyers prefer to go easy, pending developments. Continental buyers are not liliely to step in and force tip prices. Iloran.sc they are naturally anxious to obtain ehcap wool. There is another factor calculated to disturb the position, and that is the new clip of Europe. This must now bo well iu sight, and the fact

that it will so on be available is another reason why buyers need not rush in to make purchases.

Murr iv. "Roberts and Co., Ijtcl.. have received tho rol'.owirtr cable message from tlicir Loudon friends. Messrs. Sanderson, .Murray and Co., dated May 29:--"Tlis market, is weaker and is irregular. Greasy merino, inferior and faulty, has declined a. bhade; scoured merino, faulty and inferior, fhowa decline of 5 nor cent., ar/t eroisbred lias declined 5 tier cent. A considerable quantity has been bought in." I

Mutton— ' d. d..' | Canterbury, light 32 Canterbury, medium 3i 3* Canterbury, lieavy 34 33 Southland : -• - ,, North Island, best ZJ 31-16 North Island, ordinary... 23 2 5-15 Australian, light 211-16 2S Australian, heavy 29-16 22 River. Plate, light ; 2i 3i IMver Plate, heavy 2;1 2J New Zealand ewes -2> 23 Australian ewes 2 9-16 23 Iiiver Plate ewes 29-16 22 Lamb:— Canterbury, light 45 IS ' Canterbury, medium 41 45 . -'Canterbury, heavy 4il Southland 41 4 5-16 North Island, selected... 4J „ 5 5-16 North Maud, ordinary ... 4 4 3 16 Australian, best ,.i 35 35 Australian, fair 3J 38 Australian, interior 3 7-16 33 '■River Plate, first 38 3? Kiver Plate, second 3| 3it Beef:— ' ■New Zealand ox fores ... 213-16 2S New Zealand ox hinds ... 4 a3 ■ Australian ox Torn 23 2i Australian ox hinds ...... 313-16 3i Bivcr Plato ox fore.i 23 23 Elver Plate ox hinds 33 33 Bivcr Plate chilled fores 23 . "3 Bivcr Plato chilled Iliads 4J H Tho market is bad, owing to an ovcrsniiply of Argentine beef, including a, badly-damaged shipment.