COMMERCIAL.

New Zealand Herald, Volume LII, Issue 16010, 31 August 1915, Page 5

COMMERCIAL.

LONDON MARKETS. HIGH COMMISSIONER'S REPORT. [by telegeaph.—press ASSOCIATION.] Wellington, Monday. The High Commissioner's market report dated London, August 28, is as follows: — MUTTON. Canterbury and other New Zealand brands are not quoted officially, for reasons already given. There i"s a very limited supply at market, and it is selling as follows Canterbury, 7Jd per lb° other than Canterbury, 7jd per lb? There is better demand for ewes at s;d per lb. LAMB. Fair demand continues. Canterbury twos, ; heavy-weight fours, 7|d. There is a good demand, on account, of scarcity of wethers, for other than Canterbury at 8 Mod per lb for best quality lightweight. BEEF. There is only a small quantity of second quality New Zealand beef at market It is selling as follows: Hinds, 7Jd ; fores, bid. Chilled beef is in moderate supply. Hinds, BJd, fores, 6J,d.

BUTTER. The market is quiet, and prices are easier. Danish, very slow of sale, 165s to 1695; Siberian,' in good demand, 134s to 138s; Irish creamery, quiet, 154s to 158s; Argentine, good * inquiry, 152s to 1545. CHEESE. The market is quiet, but steadier. Canadian, quiet. 72s to 745. according to quality and condition : English Cheddar, quiet. 94s : New Zealand," quiet, finest, 71s to 735, and up to 74s ; United States, slow, 66s to 70s; not in good condition, oßs to 645. HEMP. The market is very quiet. New Zealand : Good., fair evade. £32 per ton : fair. £50 ; forward shipment is quoted at the same price-. Manila: New graded, fair, £33. The output from Manila for the week was 20.000 bales. WHEATThe market is dull and prices irregular. The demand is principally speculative. Canadian and American crops are reported to be go.xl. Canadian : Old crop, on passage, 34s per quarter ; new crop. September to October shipment, 45s 6d ; October to November. 455. American : New crop, August to September, 45s 6d. OATSThe market is quiet, and only small business is being done. Argentine : Cm spot, 25s per quarter. THAMES GAS COMPANY. QUESTION OF COMPETITION. The 43rd annual meeting of shareholders of the Thames Gas Company was held in Hobson Buildings yesterday afternoon. Mr. W. Ware, chairman of directors, presided.

The directors reported that the balance to the credit of the profit and loss account for the year, including the sum of £1177 9s 5d which was brought forward, amounted to £2031 9s lid. From this there had to be deducted the interim dividend of is per share paid in March, amounting to. £499 2s. leaving a balance of £1532 7s lid. The directors recommended the payment of a further dividend of is per share, which would absorb £499 2s, leaving the sum of £1053 5s lid to j be carried forward. i

The chairman, in moving the adoption of the report and balance-sheet, said that shareholders would be pleased to notice that, notwithstanding the keen competition with electric light, the company was still in a position to pay a dividend." The revenue had diminished slightly, but. on the other hand, the working expenses bad been reduced, so that the net result of the first year's operations against electric light might be considered satisfactory. The report and balance-sheet were i adooted. Mr. H. Atkinson, the retiring director. I and Mr. R. E. Isaacs, the auditor, were ! re-elected. In reply to a. shareholder, the chairman ' said the company anticipated a further falling off in the" sale of gas during the j ensuing year on account of the electric ! lighting scheme. At the beginning of the past year the latter was not in" full swim?, and the company did not feel the full effects of it, except during th* last half-vear. This year there would be opposition throughout, but he did not think it would be serious. , A vote _of thanks to the staff concluded ; the meeting. i

DIVIDEND DECLARED. [BT TELEGRAPH.— ASSOCIATION'.] Dcnedin, Monday. The directors of Kempthorne, Pro.-ser and Company's New Zealand Drug Company have declared an interim dividend for the half-year ended July 31 at the rate of 7 per cent, per annum.

THE QUEENSLAND DROUGHT. WORST FOR A DECADE. If relief had come to the western country the position of Queensland, says the Australasian Insurance and Banking Record, would be eminently satisfactory. Unfortunately that relief has not come in a comprehensive way. and the falls of rain have been sporadic and wholly insufficient to materially alter the position. The greater part of the interior is affected, some parts more acutely than others. In some places the slate of the country is compared to what it was in the drought of 1901-2, and in others it is said to he worse. How scanty has been the •ainfali is illustrated by the figures of the y..-\> uaugo on one of the stations in the Mit eh ell district. To the end >.: 1913 the fall had been 1.87 in, in 1914 it was 2.23 in. while during this year, so far, the record has been 1.79 m. For two years and two months all the rain that fell on that station was 5.8% i. This is typical of many stations and districts, hut others, of course, have been more fortunate, and thanks to the better railway facilities since the last hip; drought, st<>ck"wnrrs have been able to move stock to the areas less affected, and also to coastal districts, where tho rainfall has been much more abundant. .All the. same, the losses of stock have been heavy, and whether it rams or not will he serious. Rain after protracted drv weather, especially if it, is followed by .old weather, entails heavy losses. The recuperative powers of the western country are remarkable, and if ram comes within the next month or two the distric is wliii \\ are now as bare as a desert will become vast meadow-, of luxuriant crass. I; takes protracted dry spoils to produce effects such as are to he seen now, but 7,,, c'-mntrv in the work] rallies more quiekiy than Queensland.

WELLINGTON FRUIT AND PRODUCE. [BY TELEGRAPH. —OWN CORRESPONDENT.] Wellington, Monday. The demand for choice dessert, apples, also cooking varieties, continues satisfactory, although heavier quantities have been available lately. Pears are in keen demand owing to the shortness ol supply. Jam orange? are also selling well. Apples, choice dessert, 8s to 8s 6d per case;' prime, 7s to 7s 6d; cookers, choice, 6s 6d to 7s per cpsc; prime. 5s- 6d to 6s. Pears, choice dessert, 14s to 16s per case; prime, lis to 12s; stewing, 5s 6d to 6s 6d per caee. Passions, 4s to 5s per box. Jam oranges, 8s to 9s per case. Lemons, 'js to 7s per case. Grapes, choice, lOd to Is per lb: prime. 7d to Bd. Potatoes, choice, 6s 9d to 7s per cwt; new, in moderate supply only, fair samples, ljd to l|d per lb. Onions, 6& to 7s per cwt. Eggs, fresh, market weak, Is Id per dozen,