COMMERCIAL.

Grey River Argus, 21 June 1927, Page 6

COMMERCIAL.

SYDNEY WOOL SALES. SYDNEY, June 20. The series of wool sales which start the last series of the 1926-27 selling season, have commenced. A good demand ruled from all sections for the better descriptions of merino fleece wools. The market was from four to five per cent, above the April levels, while all other descriptions wore firm at late rates. Scoureds were irregular Greasy merino sold at 26-Ad per lb. London butter market is very slow: 164/-, 166/-. Cheese.—The market is quiet. White cheese 84/-, 85/-; Coloured cheese 85/-, 86/-. AUCKLAND, June 20. Sales on ’Change: Waihi 18/9 and 19/-: Kawarua 1/11 and 2/-; Wilson’s Cement 34/-; Hamilton Borough 6 per cent, debentures .£103; Grand Junction 1/6. Reported—N.Z. Insurance 39/9: Renown Collieries 6/-; Devonport steam 25/6. WELLINGTON, June 20. Reported sale: New Zealand Insurance 39/6. Cabled advice has been received by the General Manager of the National Bank of New Zealand, that the net profit for the year ended March 31 last, after providing for bad and doubtful debts, and after paying bonus to staff, absorbing £15,000, amounted to £312,174, which -with £173,044 brought forward from the previous year, leaves available for distribution £485,318, which it is proposed to allocate as follows: In payment of a dividend, at the rate of 12 per cent, and a bonus of two per cent, per annum, £280,000; to premises account, £20,000; to pension fund, £9,549; balance to be carried forward £175,769. The dividend and bonus arc at the same rate as last y ear - .