COMMERCIAL.

Gisborne Times, Volume LXVIII, Issue 10753, 26 November 1928, Page 2

COMMERCIAL.

LONDON FROZEN MEiAT

MARKET,

Messrs Dalgety and Company Ltd. received the following cable from their head office, London, dated 22nd Now.: N.Z. prime Canterbury lamb, 28/36 lbs,- lOd; North. Island 9}cl; Canterbury 38/421bs, 10d; North Island, 9Jd: Canterbury second quality* Bd’; North Island, 8d; Canterbury, 42/50 lbs 9id. Market for N.Z. lamb weaker; demand runs principally on finest qualities, N.Z. prime Canterbury mutton 48/ 561bs, 6£d; North 6Jd; Canterbury, 56/641bs, 63d; North Island 6d; Canterbury, 64/721bs. 6d; North Island s£d; Canterbury ewes',’ 48/G4 lbs, 4ld ; North Island, 43d: Market for N.Z. mutton weaker; demand Ignited. ! ' G.A.Q. Australian lamb, 28/36lbs, 9d36/421bs, 73d; Australian lamb, F.'jA.iQ,, 28/361bs, 7Jd. Market for Australian lamb, dull ; demand runs principally on finest qualities'. G.A.Q. Australian . mutton, 50/60 lbs 4!d ; Australian mutton, 30/551bs F.A.Q. 4d; Australian ewes, 4d. Market for Australian mutton quiet; demand poor. . , N.Z. prime ox beef hinds 4fd, fores 33d; . Argentine chillbd hinds 6Jd, fores 43d. Market for N.Z. beef, weaker; demand moderate. English porkers BQ/1001bs, Ski; N.Z. porkers 80/1001bs, 6d to 63 d; N.Z. porkers 100/1201bs. 6d.

.KAWAKAU GOLD VENTURES No mining operations were conducted during the year ended June 30 last by Maoriiand Kawarau Gold, Ltd. Before the company’s dam was closed the Government of New Zealand required the company to provide guarantees which included an msurance cover for £40,000 against possible damage such as might follow the impounding of the waters of Lake Wnkatipu. The insurance policy lias since lapsed, and in the report for the year mentioned the board states that past experience did not warrant the expense of its renewal, in the absence of further piaiit to develop tlie claims, so the gates of the darn could not be closed last winter.

On .the project for amalgamation of claims a committee reported that “owing to the number of unofficial claims on the river, the amalgamation as originally proposed could not possibly be completed. The duly' chance of any workable scheme being evolved is for the financial claim-holders tc meet the parent

company and discuss the. whole situation.” It is understood that a. further conference of the claim-holders is to be held at Dunedin in N.Z. to consider the position-, but the board states that the prospect of formulating any useful scheme is “extremely remote, and there appears to be no alternative but for the company to cease business shortly owing to lack of funds and the failure to evolve any scheme of working its claims.”

Ull its activities during the twelve months the company showed a loss of £336, its only revenue being £‘7, in interest. The total debits shown m tlie balance-sheet is £3558. Liabilities comprise paid capital of £31,426, and an external obligation of £O, against which there are assets, most of winch appear not likely to realise much in case of immediate realisation. Tlie items include cost of dam construction, £6000; shares in Consolidated Kawarau Claims Ltd £50,000. less a. reserve °f £29,500, leaving £20,500; Consolidated Kawarau Claims Ltd., indemnity account £2iOO, being the amount spent on dam construction and repayable by the Consolidated Co., shares in Amalgamated Kawarau Gold Claims, Ltd., £IOO, and primary and formation expenses, £1468. Mores tangible items a.re debtor £l9 and cash t2OO.

Amalgamated Kawarau Gold Claims Ltd., the affiliate of Maorihind Kawarau, reports to its shareholders in similar terms. Its loss for the twelve months was £253. which made the debit total £5275. Its paid capital is £70,217, and there is £lO in a suspense account to creditors. On dam construction the company spent £12,700; it has £105.000 in shares in tlie Consolidated Claims Co., against which there is a reserve of £59,325 and .an indemnity account of £3150 with the same company, besides £2OO in shares in the Maoriiand Co., those being taken into account at “market . valuation” of 3d a share. Preiitninarv and formation expenses total £3184. Cash amounts to £331. and there is a “gold purchase” which figures for £l2. —Sydney Sun.

HOME MEAT MARKET United Prewe \bbtl. by El. Tel. Coprrißhi Australian Press Association.) (Received Nov. 25, 5.5 p.m.) LONDON. Nov. 25. Sheep, Canterbury .light 6Jd, medium 63d.’ North Island, light, 6Jd, medium 6d, heavy sfd; New Zealand ewes, Argentine, light, 53d, heavy 4 5 d. ' "Lambs. Canterbury, light 93d, medium 93d, heavy_ 9 3d, seconds S.’d; other selecteds, light, 9fd, medium 9ijd, North Island, seconds, Bd, Australian firsts, Victorian 9id; other States 83d; seconds.; Victorian 83d, thirds. 7Jd; Argentine, firsts, BJd, seconds 7tL Frozen beef, Australian crops, 4 l-16d. Chilled Argentine, hinds, 63d; others unchanged. N.Z. DAIRY PRODUCE The N.Z. Loan and Mercantile Agency Co., Ltd., are in.receipt of the. following cable from their London house., nnder date of 21st, reading : Butter: New Zealand choicest salt’ Id, nelw season 180 s per cwt., market steady, last quotations 178 s To 180 s; cheese, 103 s to 105 s per cwt, market quiet, last quotation 304 s to ' KTs : tallow, we quote present c.i.f. and E., values for the. following descriptions , of tallow:' fine glutton , 43s lid per cv t.,-, good .beef 44s per cwt., mixed 40s per cwt., our quotations .are more or less nominal.” \.

STOCK AND SHARE MARKETS, (Press Association.* WELLINGTON. Nov. 24. Reported sale: New Zealand Breweries, debenture bonds, 255. CHRISTCHURCH,. N0v..24. Sales on ’Change: Bank of Now South Wales, £sl'l2s. 6d; Goldsbrougli. Mort, 52s BdCarlton Brewety, 495; New Zealand Breweries, 57s (2). Reported sale: Bank of New South V T ales, £sl 15s.

HOME MARKETS. Ottlt*d Press Aaeu. by El. Tel. Gopyriuhl ■Australian Praaa Association.) (Received Nov. 25. 5.5 p.m.) ; LONDON, No. V.. 24. Cotton.—December, MO 4-Bd.: J ' Rubber.—Para,, 10id; plantation, smoked, 8 llM6d. ■ ■ ; ; JuteNoreiriber-D'eeembeir £32 2a 6d. . ... . Hemp.—Not quoted. Copra.—November-Deceruber, £24 ios.. . , . linseed oil.—£3o; 15s per tun. Turpentine, 47s 6d per. cwfc.