COMMERCIAL

Evening Star, Issue 19699, 28 October 1927, Page 10

COMMERCIAL

CALCUTTA TEA SALES. Prats Association—By Telegraph—Copyright CALCUTTA, October 27. At the tea sales the offerings were largely plain and medium tea. The market displayed an easier tone. Clean common broken Pekoe Souchongs sold at recent rates. For all plain and medium kinds bidding was more restricted, prices declining three to six pies per pound. The commonest medium clean tannings were firm, and good liquoring kinds sold well, but tippy teas wore slightly lower, while g'l,xl dusts wore iii strong demand. Average prices were. Common Pekoe Souchong, 12 annas (J pies to 12 annas •J pies; clean, common broken Pekoe Souchong, 13 annas 3 pies to 13 annas 5 pies; even black leaf Pekoe, 13 annas 6 pies to 10 annas. THE TALLOW MARKET. LONDON, October 2(i. At the tallow sales 1,000 casks were offered and 503 sold, prices being unchanged to an advance of (id per cwt. Fine mutton, 3Ss Gd; medium, 35s 6d; fine beef, 40s 9cl; medium, 35s Gd. P. AND O. DIVIDEND. LONDON, October 26. The dividend on P. and O deferred stock is 10 per cent., tax tree. BUTTER AND CHEESE. New Zealand Loan and Mercantile Agency Company, Ltd , have received the following cable from-London, under date 2Glh inst.: —Now Zealand butter, 172 s to 17Gs; choose, 102 s to 105 s. Markets slow. BRUCE WOOLLEN MANUFACTURING COMPANY. The directors of the Bruce Woollen Manufacturing Company express regret (in their annual report) that the tradin'' for the year ended on September 19 shows a loss of £I.SGG 17s lOd. which is, however, covered by the balance coined forward The past year has been a particularly trying one for the directors, owing to its being largely a year of reorganisation, coinciding with a period of general business depression. A change has been made in the method of marketing the company’s goods, and the directors fed sure that this will ultimately be beneficial to the interests of the shareholders. The directors have considered the question of providing for depreciation, but, as all buildurns and plant are now considerably under actual value, there is no necessity for anv writing down. During the year Mr diaries Grey resigned the position of general manager, and Mr Edward Moore was appointed in his stead. The capital of the company has-been increased by the creation of 50.000 shares of £1 each, all of which have been offered to shareholders ns 7 per cent, cumulative preicrcnce shares. BUILDING SOCIETY BALLOT. The Dominion Building Society held a ballot meeting last evening at the office of the society, at which there was a largo attendance of members. Since its inception two years ago the society has grown to such an extent that it, was possible to ballot £7,000 in group 26 and £I,BOO in group 27, making a total of £B,BOO. Mr J. H. F. Hamel presided. In the two groups a total of 16 members were successful. The chairman remarked that it was _ probably unique in the record of building societies throughout New Zealand for such la large number of members to be successful at one ballot meeting. _ The ballot resulted as follows: — Groun 26; No. 62, £100; No. 114. £500; No; 248. £1.000; No. 160 £1,000; No. 203. £600; No. 75, £1.000; No. 136, £200; No. 26, £200; No. 180, £500; No. 218, £200; No. 124, £1,000; No. 149, £200; No, 28 (holder of live shares), £3OO. Group 27; No. 74. £100; No. 56, £800; No. 45 (holder of eight shares). £SOO. In group 26 £2OO and in group 27 £4OO has to he allotted to members who had received only part of their full loan at the last ballot.