COMMERCIAL VALUES HIGHER AT OPOSSUM SKIN SALE

Greymouth Evening Star, 18 September 1946, Page 10

COMMERCIAL VALUES HIGHER AT OPOSSUM SKIN SALE

The first opossum skin sale of the season was held in Dunedin yesterday, when more than 250,000 skins were offered to a full attendance oi exporters; furriers, and the local trade. All acclimatisation districts throughout the Dominion were represented, and the cplality of the skins generally.was fairly good, but it was noticed that a fair quantity of early caught skins was forward. The getup of the consignments on the whole was satisfactory, the fatting, stretching, etc.,.with some exceptions, being well done. There was good competition fo/’all grades, and values as compared with the opening sale last September can be quoted higher, as follows:—Blues. lid to. 2/6; greys (pales and rusty), 5d to 2/9; red necks, 3d to 1/7; red browns, 4d to 2/7; dark bi owns, 1/- to 4/7; blacks, 7d to 2/5; slates, 1/- to 2/10. Prices ranged from 24/1 for super blues down to 6d for small black. The next sale will be held on October 15.

Dalgety ' and Company’s report on the sale is as follows: —

We offered 95,000 skins and there was good competition for all descriptions, as compared with September last year. All grades were dearer, blues lid to 2/6; greys, pales and rustys, 5d to 2/9; red necks; 3d to 1/7; red browns, 4d to 2/7; dark browns, 1/2 to 4/7; blacks, 7d to 2/5; slates, 1/- to 2/10. Our blues sold to 23/10; greys to 15/11; pale greys to 11/3; rusty greys to 10/5; red necks, to 10/1; red browns, to 10/-; dark browns, to 12/6; blacks, to 9/-; slates to 7/9.

ABSORBING WORLD WOOL SURPLUS WELLINGTON, September 17. It was now believed in well-in-formed wool circles that the early prediction of 12 years, later reduced to eight years, for the absorption of the world wool surplus.was highly excessive, said the chairman of directors of Wright, Stephenson and Company, Ltd. (Mr. J. T. Martin), at the annual meeting of'the company to-day. A recent cablegram from the National Association of Wool Manufacturers stated that textile mills consumed 312,000,0001 b of scoured apparel wool in the first six months of 1946, equalling two and one-third times the average quantity consumed in the corresponding period for the years 1935-39, he continued. The world’s manufactured stocks had never been at such a low state. It was hoped that mills in European countries, which in pre-war days imported 3,500,000 bales, or just half the world’s exportable surplus, would soon be working again at full capacity. COMPANY NEWS Canterbury Farmers. —A net profit on the year’s operations of £38,272 is shown in the annual report of the Canterbury Farmers’ Co-operative Association, Ltd. To this has to be added the balance of £13,109 brought forward last year, making a total of £51,381. The directors have declared a dividend of 5 per cent, on all classes of preference shares, amounting to £4696, leaving £46,685, from which the directors recommended the payment of a‘ dividend on ordinary paidup capital of 5 per cent. ( £2787). The transfer to reserve for income, social security, and national security taxes was £22,115, which left a balance of £21,873 to be carried forward. Depreciation on buildings, fixtures, and plant, continued the report, had been provided as usual and amounted to £6258.

Farmers” Co-op. Insurance.—Net premium revenue of £55,935 is announced by the Farmers’ Co-opera-tive Insurance Association of New Zealand, Ltd., for 'the year ended on June 30. With interest and rent added, this sum amounts to £61,821. The surplus in the - underwriting account is £20,417, and with interest and rent £5,886 as above, and the balance of £60,534 brought forward, a total of £86,837 is available. The sum of £lO,OOO has been transferred to investment fluctuation reserve and £74 allowed for depreciation on buildings. The directors recommend a final dividend on preference shares, making 7 per cent, for the year, and a distribution of 1/3 on ordinary shares. Dividends will absorb £6552, leaving £70,211 to be carried forward. K.D.V. .Boxes. —A reduction. of £336 in net profit to £4197, which is £230 more than required to cover the restored dividend of 7 pen cent, is reported for the year ended on June 30 by K.D.V. Boxes, Ltd., Auckland. Provision of £BB9B compared with £ll,OOl the previous year has been made for taxation, and a new reserve of £3919 against fire has been established. The report of the chairman says that despite many difficulties, the rebuilding of the factory which was destroyed by fire on July 12, 1945, has been completed. New Zealand Newspapers.—An unchanged interim dividend of 8d a share has been declared by the directors of New Zealand Newspapers, Ltd. for the half-year, ended September 30. The dividend will be payable on October I.—(P.A.) Equitable Building.—The Equitable Building and Investment. Company of Wellington has declared an interim dividend of 3 per cent, for the halfyear ended September 30.—(P.A.) MININGNEWS Austral-New Zealand—For the 14 days ended September 14, AustralNew Zealand Mining operated for 226 hours, nroducing 438 ounces of bullion. — (P.A.) Gold Mines of N.Z.— Following are the dredge returns for the first half of September:—Arahura: Ran 237 hours and treated 143,000 cubic yards for a return of 512 ounces. Kanieri: Ran 223 hours and treated 89,000 cubic yards foi' a return of 428 ounces.