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COMMERCIAL., Issue 15679, 18 December 1914
A meeting of members of the Otago Mutual Starr-Bowkott Society wasJidd last evening at the office of the secretory (Mr H. F. M. Mercer) for the purpose of disposing of »p P rwnaUon. of £SOO eacn (£SOO by sale and £SOO free). . Mr J.-H. Wilkinson (chairman of a«»=*o»» presided. The appropriation of £SOO was drawn by cluster No. 344, held by a resident of Port Chalmers. There being no demand for the sale loan the appropriation was hold over until a future m Tn" lg annual meeting of the Canterbury Frozen Meat Company was held yesterdav. The annual report stated _ that.the net profit for the year was £28,226, which, with the amount brought forward from last year, made the amount at the credit of the profit and loss account £3o.<««Out of that £5,000 had been added to the general reserve fund, which, with the premium on shares allotted, increased it to £55,028 10s. £5,000 had also been added to the insurance reserve fund, briiv-ing the same up to £25,000, and the sum "of £5.000 had been written off works. After apportioning these amounts and deducting the dividend paid at the halfyear there remained the sum of i,8,0a4, which the directors proposed should be dealt with as follows-.—Payment of further dividend of 3 per cent, on preference and 4 per cent, on ordinary shares, making a total dividend for the year of 6 per cent, and 8 per cent, respectively, £6 604; carrv forward, £2,090; total, £3.694. An Auckland message states that at the annual meeting of the New Zealand and River Flatr- Company in London on January 5 the directors will recommend a dividend of 10 per cent, for the year, the interim dividend already paid to be deducted therefrom. A balance of £20,000 will be paid into the reserve fund, and £10,739 carried forward. The approximate amount of tho net profit is £70.739. THE HIDE SALES. Pifss Association—Br Telegraph—Copyright. MELBOURNE, December 17. At the hide sales there were fair supplies, with active competition. Prices were from j,d to id per lb dearer. THE TALLOW SALES. Press Association—By Telegraph—Copyright. LONDON. December 17. •U the tallow sales 770 casks were offered and 570 sold. Mutton : Fine, 38s; medium, 32s 6d. Beef: Fine. 38s; medium. 31s 6d. THE WOOL SALES. SYDNEY. December 17. This week's wool sales, the last tor the current vear, closed firm at Into rates. Hood sorts were in strong demand, largely the outcome of increased Japanese and American support, Burry and shortstapled classes were neglected. AUSTRALIAN PRODUCE MARKETS. Press Association—By Telegraph—Copyright SYDNEY. December 17. Oats : Algerian feed, 3s 7d ; nulling, 3s 8d; Tasmariian. 4s 2d. Barley : English. 4s 6d; Cape feed. 4s. Maize, 4s 6d. Potatoes. £8 to £9. Onions : Local, £9 to £10; Victorian. £l3. Butter : Selected. 108s; seconds, 98s to 102s. Cheese, 53d to 6d. Bacon, 9d. ADELAIDE, December 17. Wheat, 6s 3d. Flour. £l2 15s to £l3. Bran. £ll. 'Pollard, £ll 10s. MELBOURNE, December 17. Wheat, 6s 9d. Flour, £l4. Bran, £9 15s. Pollard. £lO ss. Barley, 5s to 6s; Cape, 4s 6d. Oats : Algerians, 4s Id; feed, 4s 3d. Maize, 4s 9d. Potatoes, £6 to £9 10s. Onions, £ll 10s. NEW FREEZING WORKS. AUCKLAND, December 17. Plans lor tha establishment of two now freezing works in the Auckland district were announced yesterday afternoon. The directors of the Auckland Farmers* Freezing Company have decided to proceed with the erection of works at Horotui, four miles south of Ngaruawahia, in the Waikato, and Messrs Vestey Bros., owners of many works in Australia, have undertaken the establishment of works j in the neighborhood of Auckland and the extension of the Whangarei works. | The two main projects involve an ex- i penditure of £50,000 each, and the addi- ! tions at "Whangarei will cost £25,000 to complete, a total of £125,000. Each of j these new works will have a capacity of ' 3,000 sheep per day, while Whangarei is being increased to that capacity. The new plant which has just been installed at the Auckland Freezing Company's Westfield works, near tho city, brings |hem also up to the 3,000 capacity. The'machinery for Messrs Vestey Bros.' works is now on the water, and an endeavor is being made to commence operations in July." The Waikato works will not bo open until December. NATIONAL MUTUAL LIFE ASSOCIATION. Tho following cablegram, says a Wellington wire, has been received by Mr F. W. Nicholson, manager in New Zealand for the National Mutual Life Association : •' The new business for the year ending September 30 amounts to over £3,500,000, which, in view of the conditions prevailin? in the Commonwealth, must be considered highly satisfactory. The income for the year was nearly £1,600,000, being an increase of £78,000. The rate of interest earned was £4 17s per cent., and the amount added to the funds was £710.000. The total funds now stand at nearly £9,000,000, all of which are invested in first-class securities. The New Zealand business is exceptionally good, notwithstanding the events which happened at the end of last year, as well as this year." LONDON WOOL MARKET. Tho New Zealand Loan and Mercantile Agency Company. Ltd., have received the following cablegram from their Ixwdon office regarding the closing of the seventh serifs of London wool sales:—"London wool sales closed. Compared _,with November, prices arc lower. Hood merino, 10 per cent : medium merino. 15 per cent, to 20 per cent. ; inferior merino, 25 per cent; lambt> and trreasy cross-bred, par to 5 per cent.; scoured slipe and lambs, about same."' The Bank of New Zealand have received from their London office tho following cable advice regarding tho closing of tho present series of London wool sales in London :—"London wool sales closed firm for cross-breds; merinos weaker." THE SHEEPSKIN SALES. LONDON, December 17. Press Aisociaiion—By Telegraph—Copyright (Received December 18, at 12.55 p.m.) At tho shoepskin sales 3,000 bales were offered. A considerable quantity was not landed in time for the auction. Competition was somewhat irregular for merinos, but cross-breds were in good demand, and practically all sold. Compared with October rates, Australian merino combings averaged Id lower; clothings and cross-bred combings id lower; New Zea- ; land fine medium combing clothing 4d ■ lower; coarse, unchanged. The next Bale j will be on January 28.
COMMERCIAL., Issue 15679, 18 December 1914
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