COMMERCIAL

Evening Star, Issue 21078, 15 April 1932, Page 7

COMMERCIAL

AUSTRALIAN EGGS. BIG INCREASE IN EXPORTS. Press Association—By Telegraph—Copyright. SYDNEY, April 14. The Department of Commerce reports that the exports of Australian eggs in recent years have phenomenally increased. Whereas shipments in 1925 totalled 1,631,744 dozen, in 1931 they were 9,740,790 dozen. The whole of the supplies were readily absorbed. BURNS, PHILP (SOUTH SEA) CO. ANNUAL MEETING HELD. Press Association—By Telegraph—Copyright. SUVA, April 14. The Burns, Philp (South Sea) Co. Ltd., held its annual meeting at its registered office in Suva to-day. The balance-sheet shows a surplus, including the balance brought forward from the previous year, of £45,105, out of which it was decided to pay a dividend of Is 3d per share, and increase the reserve fund by £IO,OOO and carry forward a balance of £1,230. SYDNEY WOOL SALES. Press Association—By Telegraph—Copyright. SYDNEY, April 14. At the wool sales 10,922 bales were offered and 9,137 were sold, while 867 were disposed of privately. The market closed firmly. The Yorkshipe and Japanese sections were the principal operators. Greasy merino brought 20-Jd. METAL MARKET. Press Association—By Telegraph—Copyright. LONDON, April 13. Following arc the official quotations in the metal market:— Copper.—Standard, £29 8s 9d per ton; forward, £29 13s 9d. Electrolytic.—Spot, £34; forward, £34 10s. Wire bars, £34 10s. Lead.—Spot, £11; forward, £ll ss. Spelter.—Spot, £ll 2s 6d; forward, £ll 2s 6d. Tin.—Spot, £lO3 10s; forward, £lO5 7s 6d. Silver.—Standard, 16|d per oz; fine, 17 15-l Cd. BANK OF ADELAIDE. The Dunedin Stock Exchange has been advised’ that the directors of the Bank of Adelaide have declared a final dividend of 2 per cent., making 4 per cent, for the year. The dividend amounts to 2s per share. LONDON WOOL SALES. Press Association—By Telegraph—Copyright. LONDON, April 14. (Received April 15, at 11 a.m.) At the wool sales 8,140 bales were offered, including 5,195 from New Zealand. Bradford bought New Zealand cross-breds steadily at opening rates. Merino offerings were light. New Zealand scoured combing: “ Benohau,” top 18jd, average 17-Jd; greasies—crossbred, “ Dunmore,” 7d and s|d; slipe, “ Gear,” 8)d and 6Jd. BRADFORD MARKET. Press Association—By Telegraph—Copyright. LONDON, April 14. (Received April 15, at 12.5 p.m.) There is little small business at Bradford. Quotations: Seventies, 244 d; sixty-fours, 22d; sixties, 20) d; fiftysixes, 17d; fifties, 12d; forty-sixes, 9-id; forties. 9d. BUTTER AND CHEESE. Messrs Dalgety and Co. Ltd. have received the following cable from London, dated April 14:— The butter market is slow; quotations nominal. The cheese market is slightly easier. Quotations: —Danish Butter, 118 s to 120 s; New Zealand finest, 107 s to 109 s; Australian finest, nnsalted, 105 s to 107 s; Australian finest, salted, 105 s to 107; Australian G.A.Q., 102 s to 104 s. Australian cheese: White, 60s to 61s; coloured, 61s to 625. New Zealand: White, 625; coloured, 635. Canadian: white, 68s to 725; coloured, 68s to 725; c.i.L, not quoted; white cheese also 6d less. AUCKLAND CHAMBER OF COMMERCE. The Auckland Chamber of Commerce, following out a movement for the conduct of sectional activities, is considering the formation of an exporters’ section (states an exchange). Several members of the chamber have consistently represented the advantage of affording facilities for members to compose themselves into groups to consider their common interests more effectively. A few years ago such a course was not possible under the rules and constitution of the organisation, but the position was altered after inquiry by a special committee. During the past fifteen months three divisions—the advertising group, the junior section, and the importers’ section—have been formed, and it is probable that the practice will be carried further. AUSTRALIAN IRON AND STEEL. A further decline in net profit is shown by Australian Iron and Steel Ltd. in its statement for the year ended November 30, 1931. At £18,071, the figure shows a fall of £58,360 on the net profit for the previous year. The profit is added to £206,380 brought forward, making a carry forward of £224,451. Payments on the two halfyearly dividends on cumulative preference shares due on May 1 and November 1, 1931, were postponed. Paid-up capital increased by £26,250 during the year. Preference capital is £1,000,000. The sum of £91,675 needed for the payment of the 1929 ordinary dividend of 5 per cent, again appears in the ordinary dividend appropriation account.

liabilities have decreased by £72,836, and the large fixed assets item is greater by £113,895. Stocks show a decrease of £200,969, and cask a decrease of £3,583. There is an increase of £3,163 in the item debtors. The directors state that the erection has been completed at Port Kcmbla of t|je large rolling mill purchased from Baldwin’s Ltd., England. The merchant bar mills have been transferred from Lithgow to Port Kemblt, where the steel manufacturing actirities of the company arc now concentrated. Shortage of orders caused all sections of the plant to work intermittently. Sir .Maurice Hugh Lowtblan Bell has been appointed a director to fill the vacancy caused by the deatl of Sir Hugh Bell, chairman of directors of Dorman, Long, and Co. Ltd.

DIVIDENDS PAYABLE. Stock. Amount. Period. Date. Broken Hill South Is -- April 15* Kaitangata Coal Is 6d April 19 Electrolytic Zinc (pref.) ... 9 3-5 d interim April 14* N.Z, Guarantee Corp, 2d interim April Woolworth’s (pref.) 10 4-5 d interim April Mosgiel Woollen Co. 3s 22-5 d interim May 12 E.S. and A. Bank Is 9 3-5 d interim May 2 *Datc payable in Melbourne. A PROPHECY FULFILLED. The following interesting forecast regarding West Coast mining is contained in the ‘ Handbook of New Zealand Mines,’ issued in 1887 by the then Minister of Mines (Mr W. J. M. Larnach): — “ The beaches from the Big Wanganui River to Big Bay have been worked with varying success for the past twenty years, and the beach leads, especially the rich ones, such as that found at the Five Mile Beach, might be profitably reworked if dredging machines similar to those in use on the Clutha River were substituted for hand labour. There is an abundant supply of water for motive power, and as payable gold was left by the first workers under the water level dredging machines with the necessary appliances to suit local circumstances would probably give good returns.”

The Okarito dredge is now working with success on the Five Mil§ Beach*

LONDON WOOL MARKET. Messrs Murray, Roberts, (and Co. Ltd. have received the following wool market cablegram from their London agents, Messrs Sanderson, Murray, and Elder Ltd., dated April 14:—“Scoured merino, inferior, declined 5 per cent. Cross-bred, except the best descriptions, declined 5 to 10 per cent. Cross-bred greasy, medium, showed the greatest decline.” AUSTRALIAN MARKETS. Press Association—By Telegraph—Copyright. SYDNEY, April 14. Wheat.—-Ex trucks, Sydney, 3s ltd; country stations, 2s 6fd. Flour, 200 s. Bran, 84s. Pollard, 100 s. Potatoes. —Tasmanian, to 160 s; Victorian, 140 s. Onions.—Victorian brown, to £l7. Oats, 2s 6d. Maize, 4s 3d. MELBOURNE, April 15. (Received April 15, at 10 a.m.) Wheat, 3s 3-Jd, Flour, £7 12s 6d. Bran and pollard, both £3 ss. Oats, 2s 3d and 2s 4d. Barley, unchanged. Maize, 3s lid and 4s. Onions.—Steady, £l3 15s and £l4*