COMMERCIAL

Gisborne Times, Volume LXXIII, Issue 11761, 7 October 1932, Page 2

COMMERCIAL

LONDON ’CHANGE DULL. GOVERNMENT STOCKS STILL WEAKENING. fUrilisli Official Wireless.) -. , > ' RUGBY, Oct. 5. Sjfcock Exchange conditions were dull to-day, and British Government weakened, 5s to 7s 9d with the war loan at £IOO 12s 6d. . AVAIRARAPA FARMERS. WRITING-DOWN PROPOSALS. i. An announcement ’that proposals' are to be made for the writing down of the capital of the AA’airarapa Farmers’ Co-operative Association. Ltd., was made at the annual meeting at, Masterton last week. Tho accounts for the year showed a loss of £16,188, making a total deficiency of £61.006. In reference to this. Mr. C. .M. Bowden, managing director, who presided. said it would be many years before tbo arrears could bo liquidated. and the shares again restored to. a basis of paying regular dividends. Tn those circumstances the board proposed to introduce resolutions later, for capital readjustment by. writing off the losses against capital. Proposals would, be submitted when it was considered that the loss could bo definitely calculated. Air. J. Hunter said it seemed t° him that the preference -shareholders’ capital had gone. He considered that the preference shareholders haH not had adequate representation on the board. Air. ,Hunter complained of the losses incurred in tho stock department.

Replying, the .chairman pointed out that the company was not actively engaged in the stock business at the present time. At the same time there were advance accounts on. which any attempt to clear up the stock department business immediately would mean ruination for many farmers. The present board, lio said, bad no intention of extending stock operations. It was not quite correct to say that tbe preference share capital bad gone, as there were various assets against that.

LONDON BUTTER AND CHEESE MARKETS, 'lhc N.Z. Loan, and Alcrcantile Agency Coy. Ltd., have received the following cable from their London office under date August 5: —“Butter finest, 114 s per cwt; firsts. 108 s; market slow. Cheese, white, 66s P c>r cwt; colored, 60s to 61s: market steady.” STOCK AND SHARE MARKET (Press Association.! AUCKLAND, Oct. 6. Sales on Change; Kaitaugata Coal, 16s; Blackwater Alines, 18s; Auckland Gas, 21s 6d; AVilson’s Cement,. 33s Gd; Alt. Lyell, 21s 3d; Waihi. 17s 3d; Farmers’ Fertiliser, 16s 9d; Commercial Bank, 14s 8d; Government Bonds, 44 per cent. (1941) £94 10s. AV,ELLINGTON, Oct, 6. Sales- on Change: Mt. -Lyell, 21s Id, 21s sd; AVaihi, 17s 3d. CHRISTCHURCH, Oct. 6. Sales on Change: New Zealand Refrigerating Co.. (10s paid) 3s Set; Dunlop Rubber, 14s 6d; Alt. Lyell. 21s 4d: Mahakipawa, 4d. DUNEPJN, Oct. 6. ’ Sales on Change.: Okarito. Ss Gd (2). , Sales reported; Bank of Australasia, £9 lSs; Kaitaugata Coal, par.