COMMERCIAL

Evening Star, Issue 19855, 2 May 1928, Page 11

COMMERCIAL

NEW ZEALAND’,-; l-'INANCLVL A R 1! ANG EM ENTS. NEW LOAN AND REDEMPTION. Pros As-odnlion—By Telegraph-Copyright. LONDON, Ainv !. The ‘ L'innitcinl Nows’ soys it, may cause siirpiiso that New Zealand has decided to combine new borrowing with the redemption of part of the loan which is due in eighteen months. There is every indication that tho money rates in London will ease markedly next year, but New Zealand clearly argues that while she will keep the hulk of the redemption till a later date, it would bo wise to dispose of a portion tinder tho present fairly favourable conditions. This action may seem unduly cautious, but it is done" with deliberation, and it will bo interesting to see if tho era of Lt per cent, trustee securities is regained. If tho loan is a real success there wil Iho few more 5 per cent, issues. —Australian Press Association. METAL MARKET. Press Association—By Telegraph-Copyright. LONDON. April .’id. Copper: Spot, £6l 13s Ltd; forward. £6l IBs ltd. Electrolytic.—Spot, £66 10s; forward, £67. Wire bars, £67. Lend: Spot, £2O os; lonvard, £2O 11a 3d. Spelter; Spot. £26 Is 3d; forward, £25 ,13s fhl. Tin; Spot, £230 Jos 3d; lorward. £231 Ite 9d. Silver: Standard, 26 15-16 d per ounce; fine. 29 1-1 Gd—Australian Press A asocial ion. SYDNEY WOOL SALES. Press Association—By Telegraph—Copyright SYDNEY, May 1. At tho wool sales the bulk of the offerings comprised erntchings, for wliicli there was good general competition at the rates current at last scries. Cross-brcds and seoureds also raot > alinn demand, while all good_ descriptions of fleece wools and skirtings realised .March closing rates, but faulty or mixed lots had irregular competition. Greasy .merino (lecce sold to 28d, comeback 27J<1, and cross-bred 27-Jd. TA UP 11! I CD A!. MINES, LTD. [Per United Press Association.] AUCKLAND, May J. Tho report of the Taupiri Coal Mines, Ltd., slates that the profit for the year after making allowance for depreciation amounted to £18,566 Ills Id, to which must bo added £5,158 14s Id brought forward from last year, giving a total of £23,725 4s 2d. Preference share dividends amounting to £1,600 and an interim dividend of £6,050, ,representing Is a share on ordinary shares, were paid, totalling £7,650. The balance to he dealt with was £1.6,075 4s 2d. This tlie directors recommended should _ be appropriated as follows;—To pay final dividend of Is a share, £6,050; to transfer to accident reserve fund, £4,000; to carry forward. £0,025 4s 2d. LAMB PRICES. U’ER U.NKEP I’HBSS ASSOCIATION.] WELLINGTON, May 1. The New Zealand Moat Producers’ Board advises that the following prices are being offered for fat stock for export ns at April 28: — Canterbury prime woolly lambs, 301 b ami under, 11 »d; 371 b to 421 b, lORl; 431 b and over, URL Second quality lambs, lOidp. wethers, first quality, to 481 b, 7}d; first quality, 401 b to 561 b, 7RI; first quality, 571 b to 641 b, Gkl; first quality, 651 b to 7211), SRI; first quality, over 721 b, 4i[d. Second quality, s]d; ewes, under 581 b, SRI; 491 b to.oGlb, sd; 581 b to 641 b, 4RI: 651 b to 7231 b, 4d; over 721 b, 3RI. EROZ EN~MEAT EXPO It TED. [Per United Press Association.] WELLINGTON, May 1. Official returns supplied by tho New Zealand Meat Producers’ Board for sixmonths and a-half of tho current season to April 15 show increases in tho shipments of all classes of frozen meat, as compared with theeorresponding period of last season. The killings of stock for export during tho same period show a small increase in lamb, a decrease in

unit,ion, and largo increases in pork and beef. An analysis of ibe returns gives tho following increases in tho shipments of frozen meat from the dominion from October I, 1927, to April 15, 1928, as compared with the corresponding period last season :---Lamb, 096,719 carcasses; mutton, 110,794 carcasses; beef, 108,752 quarters; pork, 18,177 carcasses. Tho killings of stock for export during tho same periods afford tho following comparisons:—Lamb increase, 179,610 carcasses; mutton decrease, 230,540 carcasses; pork increase, 00,372 carcasses; beef increase, 183,851 quarters and 53,982 freight carcasses of boneless beef. The total shipments of frozen meat from October 1, 1927, to April 15, 1928, were: Beef, 130,076 quarters; mutton, 298,894 carcasses; lamb, 3,007,824 carcasses; pork, 09,190 carcasses.