COMMERCIAL

Evening Star, Issue 17764, 12 September 1921, Page 7

COMMERCIAL

TUB HOME MARKETS. Pre«s Association—By Telegraph —Copyright. LONDON, September 10. Mutton: Canterbury light, Bid; medium, 7^d; heavy, 6|d; feoulhland, 7jd ; North Island, Zealand owes, 8|; South American light 7d, heavy 6-id, ewes s|d; Patagoniau light 6d, "heavy fid, ewes sd. Lamb; Canterbury light 123t1, medium I2|d, heavv lid, ‘light seconds 12|d; Southland. 'l2-id; North Island selected 12|d, ordinary 12-^d; South American light, lid. . , Beef: Frozen Australian hinds, fiid; Uruguayan fores, 4|d ; Argentine chilled fores s£d, hinds lO^d. Cotton : Liverpool quotation—American middling upland, October delivery, 12.43 d Jute: Old crop, Scptember-Octeteship-ment, £3l per ton. . . New Zealand hemp: The market is quiet. Septembor-November shipment, £3B 10s. „ Rubber: Fine bard Para, l2Jd per lb; plantation, first latex crepe, BJd ; smoked ribbed sheet, B{d.Copra: South Sea bagged, SeptemberNovember shipment, £32 15s per ton. Linseed oil, £3l per ton —equal to os lid per gallon. Turpentine, 65s 9d per owt—ccjual to 4s ll£d per gallon.—A. and N.Z. Cable.

CANTERBURY FATHERS’ CO-OPERA-TIVE ASSOCIATION. THE YEARLY BALANCE-SHEET. rßpp.cur. to the ‘Star.’] CHRISTCHURCH, September 10. A reflection of tho general financial and trade conditions is shown in the annua' balance-sheet of the New Zealand Farmers' Co-operative Association of Canterbury, Ltd., for the year ended July 31, 1921. The earnings of the business throughout the year have been very adversely affected by a number of causes, mainly the abnormal fall in the market values of most of (he .primary products, the acute money stringency, and steady fall and consequent adjustment of values of general_ merchandise stocks; consequently the available profit® s'j.nding to the credit of profit and loss account are necessarily below recent vears’ showing, the amount being £46,835 12s 3d, which, with £12,061 2s 8d brought forward from last year, makes a total of £58,896 14s lid to be dealt with. The directors propose to allocate as follows;—To pay 6 per cent, dividend on preferCtice share capital (£30,4451_; to pav 7 per cent, upon ordinary paid-up capital £26,548): and to carry the balance (approximately £2,10o) forward. Under the conditions prevailing tho results do not permit of payment of the customary higher rates of divided on ordinary capital as well as tho usual rebates and bonus. The directors feel sure that with few exceptions {if any), in view of the extraordinary conditions, ’ the shareholders will accept the position with every confidence in the future.