COMMERCIAL

Nelson Evening Mail, Volume LXIV, 6 August 1931, Page 12

COMMERCIAL

N.S. WALES WOOL CLIP DROP IN VALUE (United Press Association—By Eloctrio Telegraph—Copyright) SYDNEY, sth August. The Government Statistician's estimate of the last New South Wales wool clip discloses that the value was less than half that of 1927-28 and £5,000,000 below the year 1930. The number of sheep and lambs shorn was 48,750,000, which was the lowest since 1926. The weight of wool was 427,000,000 lbs., averaging 0.7 d per lb. The peak year was 1928, when the clip was worth £38,000,000, averaging 19.-U1 per lb. Recent abundant rains assure a heavy average yield of wool in the coming eyar OVERDRAFT INTEREST REDUCED (United Press Association —Uy Eloctrio Telegraph—Copyright) SYDNEY, sth August. The Commercial Banking Company of Sydney, Limited, announces a reduction of interests on overdrafts of 1 per cent, from Ist August. STANDARD INSURANCE YEAR U3y Telegraph—Proas Aaaoc'atlon) DUNEDIN, sth August. The, annual report of the directors of the Standard Insurance Company, Ltd., slates that income from all sources for tho year ended 301 h June amounts to ! £226,949 8s Id (£300,763 last year), to ! which has to ho added balance brought ! forward from last year, £23,144 9s 4d. Tlio surplus on the year’s operations, after making full provision for all ascertained losses to 30th June, payment of interim dividend, donation to guarantee and provident fund, and depreciation of securities, amounts to £35,558 19s sd. Out. of this surplus (he directors recommend payment of a final dividend at the rate of Is 3d per share, and the carrying forward to next year of £23,058 19s sd. The dividend is the same as last year.