COMMERCIAL

Northern Advocate, 12 June 1931, Page 10

COMMERCIAL

N.Z. I'ERPETUAL FORESTS. EIGHT PER. CENT. DIVIDEND. (Special to “Northern Advocate.”) AUCKLAND, This Day. The eighth annual meeting of shareholders of N.Z. Perpetual Forests, Ltd., was held on Wednesday, Mr W. Fraser presiding over a large attendance. In reviewing the progress of the company during the past year, the chairman said the difficulties caused by the adverse exchange had so far been satisfactorily overcome, and he expressed the hope that, with the continued support of his fellow directors, the company rvould be able to meet nil difficulties as they arose. Taking into consideration the difficult times, the shareholders had good reason to be satisfied with the year’s operations. He emphasised the fact'that the company was in a very sound position, and said that, there would still be an improvement in the present adverse conditions.

The report and balance sheet were adopted, and it was decided to pay a dividend of 8 per cent for the year. The retiring' directors, Messrs W. L. Davidson, Fred C. Dewar, and C. A. Davidson, were re-elected.

NEW PRIVATE COMPANY. ——— » WHANGAREI CONCERN. (Special to “Northern Advocate.”) ’ AUCKLAND, This Day. Among the recent private companies registered in Auckland is that of the Northern Trust Company, Ltd., merchants and financial agents. Capital: £3OO in £1 shares. Subscribers: Winifred Frances Newberry, of Whangarei, 200 shares; William W. E. Newberry, of Whangarci, 100 shares. BORING FOR OIL. , GOOD SHOWING REPORTED. (Per Press Association.—^Copyright.) WELLINGTON, This Day. - Coal Oil (N.Z.), Ltd,, has issued the following drilling report, dated June 11, for the Omata No. 1 bore: —i“We cleaned the well jq 2917 feet, and drilled to 2965 feet. Formation is soft mudstone, with sandstone bands between 2932 feet and 2936 feet. Good showing of gas and oil at this poiftt. ” GOLDSBROHGH MdRT. FALL IN NET PROFITS. (Per Press Association.—Copyright.) WELLINGTON, This Day. A cablegram received by' the New Zealand Stock Exchange Association states that a net profit of £117,476 is shown in the annual report of Goldsbrough Mort Co;, Ltd., for the year ended March 31. A sum of £llO,lOl was brought into the account, making £227,577 available, for appropriation.

The dividend of Is a share recommended will absorb £.120,000, and it is proposed to transfer £2500 to the Provident Fund and to carry forward £105,077.

s CANTERBURY SALE YARDS, r USUAL DIVIDEND. * (Per Press Association.—Oojjyrlghx.') >. WELLINGTON, This Day. The New Zealand Stock Exchange Association has received advice from the directors of the Canterbury Saleyards Co., Ltd., that an interim dividend of 5 per cent, has been declared for the half-year ‘ ending June ,30. The dividend is due on July 1. GEAR MEAT COMPANY. I DECLINE DISCLOSED. (Per Press Association.'—Copyright. J WELLINGTON, This Day. The directors of the Gear Meat Preserving and Freezing Company of New Zealand, Ltd., have advised the New Zealand Stock Exchange Association that an interim dividend of 6d a share has been declared. Payment will be made on June 19. Last, year the company paid a dividend of 2/ a share, or 10 percent for the year, compared with 111 per cent in 3929 and 1928, and 10 per cent in 1927 and previous years, PRODUCE QUOTATIONS. AUSTRALIAN CENTRES.. SYDNEY, June’ll. The following .are today's quotations on the Sydney produce market: — \Vheat: Ex trucks at Sydney, 2/3-1; at country stations, 1/SJ. Flour, £lO 10/; pollard, £4; bran, £5 10/; potatoes, Tasmanian, £G; Victorian, £5; Onions, Victorian, to £5, Supplies are now limited and large shipments of onions are on route from New Zealand. Oats, white, 2/8; Algerian, 2/3; maize, 4/-. Prices at Adelaide are: —'Wheat 2/2; flour, £6 17/0; oats, Algerian, 1/6; on- ! ions, £5; pollard, £4 10/; bran, £3 15/. SALES IN LONDON. j 1 TALLOW, AND APPLES. * 5 - (Received 11 a.m.) ; ! LONDON, .Tune 10. t At the tallow sales, SI I casks were 1 offered and 302 sold at 1/ to 1/6 ,de- t dine. Mutton, line, 22/ per cwt, t medium, IS/; hoof, fine, 21/, medium, t 17/- t The Tamarqa's apples sold as fol- c lowsStunners, * .11/6 to 12/6 per e case; Delicious, 13/ to 15/; Poke- t woods, Roraeoa and Statesman, 34/ to c 15/. It

j KAURI GUM RESEARCH. I WORK TO~.BE ASSISTED. E XPORTERS ’ DECISION. (Special to ,J Northern Advocate.”) AUCKLAND, This Day. In older to assist in research work in the United States, kauri gum exporters in. Auckland yesterday decid- i ed to contribute ono-quarter per cent, of the f.o.b. value of all gum exports to the United State* and Canada. The question of research into the possibilities of increased uses, for kauri gum has been before the American Gum Importers’ Association for some years, and the exporters’ decision was in response to a communication from the association asking for financial assistance if the research work is to be carried on. It is felt that there are many additional uses to which kauri gum can be put, and that consumption can be increased considerably if manufacturers can he shown, economic methods of using the gum at a profit instead of much of the synthetic, gum which is used today.