PRICES HIGHER

Dominion, Volume 31, Issue 296, 10 September 1938, Page 14

PRICES HIGHER

London Lamb Market Firmer

CHILLED BEEF STEADY Eamib market: Very firm, with prices a-’ain higher. Our consumption is beiug affected by low prices of home-killed lamb. Mutton market: )V ethers meeting with better inquiry, with lightweights dearer. Ewes trade slow. Beef market: Chilled beef trade good this week, with little change in prices. New Zealand porker pigs: Consumption is improving with prices firm. New Zealand baeoner pigs: Market steady, with prices unchanged. , , 'The above report was received yesterday by the Meat Board from its London oilice, which advises that the following are the ruling prices of wholesale quantities of the descriptions of frozen meat mentioned, and are for representative parcels of the goods sold on Thursday. Chilled beef prices are averages of the week. All prices are on the basis. of delivered to Smithfield market. New Zealand sheep: Crossbred wethers and/or maiden ewes, 481 b. and under, 5 3-8 d (s}d.) ; 491 b. to oGLb., 4Jd. (4Jd.) ; 571 b: to 641 b., 4 5-Sd. (4 5-Sd.) ; 651 b to 7,21 b., 4M. (4Jd.) Ewes, 481 b. and under, 3 5-Bd. (3 5-Bd.) ; 491 b. to u6lb>., 3 l-Bd. (31d.) ; 57'1,b. to 641 b., 3d. (3d.) ; bulb, to 721 b., 2 7-Bd. (2 7-Bd.). New Zealand lambs: Canterbury, 361 b. and under, Sd. (7 7-Bd.) ; 371 b. to ‘lJlbj 8d (7 7-Sd.) ; 431 b. to 501 b., ijd. (i 3-Sd.). Second quality, average about 311 b., 7 l-Bd. (7}d.). Other South Island, 361 b. and under, Sd. (Sd.) ; 371 b. to 421 b., Bd. (Sd.) ; 431 b. to 501 b., 7}d. (7 3-bd.). North Island Downs, 361 b. and under, 8 l-Bd. (Sd.) ; 371 b. to 421 b., 8 l-Bd. (Bd.) ; 431 b. to 501 b., 7id. (7Jd._). Second qua.ity, average about 301 b., i 3-Sd. (7 3-bd.). North Island, first quality, 361 b. and under, 7 7-Bd. (7Jd.); 371 b. to 421 b., 7 7-Bd. (7 7-Sd.). Second quality, average about 3Ub., 7 l-Bd. (7 1-Sd.). Australian lambs: Victorian, first quality, not quoted. Argentine, lambs: JTirst quality, oblb. and under, 6Jd. (7d.) ; 371 b. to 42ib,, 6Jd. (Old.). New Zealand frozen beef: Not quoted. Australian frozen beef: Ox hinds, 1451 b. to 2101 b., not quoted. New Zealand’porker pigs: hirst quality, 611 b. to 801 b., 6 7-8(1. (6 7-Bd.) ; 811>b. to 1001 b., 6 5-Sd. (6 5-8 d.); 1011 b. to 1201 b., 6}d. (6Jd.). . . New Zealand baeoner pigs: to 1601 b., 6 3-Bd. (6 3-8(1.). Boneless bobby veal (old seasons), ex store, in parcels, 4d. (dd.). New Zealand chilled beef: Ox hinds, 1451 b. to 2101 b., s|d. (5Jd.); ox fores, 1451 b. to 2101 b., 3}d (3 5-Bd.) Australian chilled beef: Ox hinds, o.d. (s£d.) ; ox crops, 3 5-Sd. (3Jd.). South African chilled beef: Ox hinds, 5 7-Bd. (5Jd.); ox fores, 33d. (3}d ) Southern Rhodesian chilled beet. Ux hinds, 5 5-Bd. (sjd.); ox fores, 3Jd. chilled beef: Ox hinds, 6 3-Bd. (6 3-Sd.); ox fores, 4d (4d.) Uruguayan chilled 'beef: Ox hinds, 6 l-Bd. (6 1-Sd.); ox fores, 3 7-Bd. (3 7-Bd.k (Brazilian chilled beef: Ox hinds, .) 7-8(1. (6d.). . , ~ Devin and Oo„ Ltd., have received the following report from their London agents:—Compared with last weeks quotations, Down lambs (1-Sd. per lb. higher: second quality lamb, 1-8(1. per lb lower, wethers, under 481 b., 1-Sd. per lb. higher; ewes, 481 b. to 501 b., 1-Sd. per lb. lower. The market is steady, but the demand for lamb is being checked by the high prices asked bv sellers. Henry S. Hitter and Sons Ltd. have received the following cabled report from their London office’.—Lambs: Trade slow owing io heavy supplies of iresn meat. Wethers: The market is quiet and unchanged. Lwes: The market is quiet and unchanged. Chilled beef. Demand and prices are steady, fork: Hie market has improved and the P™ SCI ” demand is expected to continue. Trade generally is affected by heavy supplies ot Home-killed meat.

DEFICIT WIPED OUT

Wairarapa Farmers’ Co-op.

The directors of the Wairarapa banners’ Co-operative Association Ltd. tor the year ended July 31, 1938, state that the gross profit on the operations of the various departments amounted to ill)-,-,235, as against £101,539 last year and £87,264 in 1936. After paying interest on , debentures, amounting to £3OOO, depreciating plant and fittings £2693, expending a sum ot £2449 in alterations and reuovoations at Wellington branch and elsewhere, and providing for all bad and doubtful accounts, the net profit amounts to £l3,oOt>. as compared with £16,901 last year and £10,226 in 1936. • > . This year’s profit will extinguish the balance of accumulated losses of past years, namely, £7828/2/6, and the directors propose, out of the remaining balance, to create a general reserve aeeouiit of £3OOO, to transfer the sum ot -tIOUU to taxation reserve account (which will then stand at £5000), leaving a balance to the credit of profit and loss appropriation account of £1740/4/-. The scheme of arrangement between the company aud its shareholders, dated May 29, 1936, provided that any such balance sitotild be payable as a. dividend to preference shareholders. The board considers it inexpedient lo actually distribute this sum at present, but recommends that the sum of £.1740/4/- be transferred to dividend account, thereby expressly earmarking'’it. for inclusion with next year’s profits for distribution to preference shareholders. . The cumulative dividend attaching to the preference shares begins to acerue as from August 1, 1938. The directors hope that, it will be possible to pay dividends in future years without intermission. The board thanks the management and all members of the staff for their loyal co-operation ; and to the company's bankers acknowledgment is also tendered. The retiring directors, Messrs. V. E. Donald and W. Howard Booth (reprerenting the ordinary shareholders) and Mr. C. M. Bowden (representing preference shareholders), offer themselves for re-election, and in the absence of other nominations will be declared duly elected. The retiring auditor, Mr. G. W. Sellar, offers himself for re-election. Bradford Tops Market Easier By Telegraph.—Press Assn. —Copyright. LONDON, September 8. The Bradford tops market is easier and there is no extension in business. To-day’s quotations compare with those previously cabled as follows: —

British Wholesale Prices (British Official Wireless.) LONDON, September 8. The general level of wholesale prices in August was 1.1 per cent, lower than in July. A decline of 3.2 per cent, in food prices was responsible for the lower index, as prices for industrial materials and manufactures showed no appreciable change. Compared with 1937. the general index for August fell by about 101 per cent., food prices being barely 8 per cent, and those for industrial materials and manufactures 12 per cent, lower.

Aug. 11 Aug. 25 Sept. 1 Sept. 8 Merinos— <1. d. <1. d. 70's .... 28 2.8 27 274 04’9 ... .... 264 2G k 254 J GO’S ... Crossbreds — .... 254 254 244 24 58’s • 214 21 56*« .... 20 20 1!) 1S4 50's ... .... 17 17 17 164 ■Ki's ... . *164 *164 *164 *164 -10's ... .. .. *164 *164 ♦Nominal, *164 *16.1