LONDON BUTTER MARKET

Dominion, Volume 29, Issue 198, 19 May 1936, Page 12

LONDON BUTTER MARKET

A Stronger Tendency By Telegraph—Press Assn. —Copyright. London, May 17. The butter market has a distinctly stronger tendency. , . „ , The trade is optimistic about the torward position. London Stock Exchange By Telegraph—Press Assn.—Copyright. London, May 17. The French franc crisis is temporarily ended, and conditions haw virtually returned to normal on the London exchange market. . \ The stock markets have Jtst passed the dullest of weeks. Gilt-edged securities, deprived of last, week’s French support, yielded ground by fractions. Interest m industrial shares was damped down by tne uncertainties of the political situation and the irregularity in the Wall Street market. First'reports of the Royal Mail Realisation Company, which was formed to liquidate the assets of the Royal Mail Steam Packet Shipping Group, show that important sales produced over £3.600.000. The commodity markets generally have a better tone, and this is attributed to the relief of pressure on the franc. Tallow and Hemp Markets The Department of Agriculture has received the following cablegram, dated May 16. from the High Commissioner for New Zealand, London: — Tallow: Market very quiet with quotations nominal nnd unchanged. Hemp: Manila, market firmer. “K ’ grade for June-August shipment sold at £2O/5/-. Stocks in London on May 1. 13.021 bales, against 11.381 bales at same time last year. Sisal: Market firm and active with good demanri. Prices have advanced. May-July and July-Sep-tember shipments sold at the close at £2B, New Zealand: Market nominal and unchanged. Stocks in London on May 1, 146 tons, against 29 tons at same time last year. Gisborne Gas Company The directors of Gisborne Gas Company report a substantial improvement, not merely in the increased consumption of gas. number of consumers, nnd greater volume of business generally, but also in the financial position of the company. The company is now able to offer attractive terms i'or the Wisfallntion of nil types of nplianees. Gas fire sales liaye been particularly good, and the new tariff is giving very good results and brings the many benefits of gas within the reach of nIL . . , . , Valuable extensions of mains and services tins been carried out. and good business has resulted and many all-gas houses are now in existence. The profit for the year amounts ,o £lll9/18/11. This is described as a very fair comparison witli last year’s figure's, because to be added to this amount is the expenditure incurred in payment to preference shareholders and other non-recurring items. Depreciation has been carefully considered and in addition to (he amount shown in the profit and loss account, the directors recommend that a further sum of £lOl9/19/5 be written off from the accumulated appropriation nceonnt for obsolete plant. The directors recommend that the sam» dividend paid last rear be paid this Tear, being Rd. pet share, and the balMice’ bg oauisd forwtud.