COMMERCIAL.

New Zealand Herald, Volume LV, Issue 16847, 11 May 1918, Page 5

COMMERCIAL.

NEW ZEALAND PAPER MILLS. DIVIDEND FOR YEAH, 7 PER CENT. [Br TEfc3BGBA?H.~PBESB ASSOCIATION.] DUNEtJIN, Friday. The directors of the New Zealand Paper Mills > recommend a, dividend of t per cent, for sis months, making 7 per cent, for the year.

WHANGAREI CINNABAR, LTD. NEW COMPANY TO BE FORMED. The annual meeting of shareholders of the Waftngarex Ciomb&r, Ltd,» was held at the Chamber of Commerce. The chairman of directors, Mr. H. B. Cooke, presided. in moving tae adoption, of the annual report and balance-sheet, the chairman made reference to the many difficulties the company had laid to contend with. He said the company was now on a sound footing from ■ a return producing point of view, but owing to the fixing of a low market price in Great Britain by the Imperial Government, sales in course of negotiation haa to be canwiled, and future business would be restricted practically to colonial markets durirf ■** e existence of this war regulation. rn*W» asey had promised to represent the matter strongly to the Home authorities, in tne nope that the product would be put on , a. better footing, thus enabling the company figure its products abroad at a remunerative ngure. . « capital of the company having proved insufficient to extend its operations as deemed necessary by the directors, a series 01 resolutions were submitted to the meetJP?' provid.ng, inter alia, for disposing of : the present company's undertaking to a new . company,-' having a nominal capital of 60,000 shares of A 101 ' Of the shares 25,000 are to bo allotted, paid up. to present sha.ro ¥'°f5 8 - who take up 25,000 contributing shares, pro rata, in the neyr company leavS> Q rJjshares in reserve The resolutions were all adopted unanimously, and the direoforthwith autslonaed to give effect thereto .The retiring directors, Messrs. F. W. ManMr«.» an T » -d'jJ? were re-elected. Messrs. J. P. Buddie And Son were also reappointed x auditors. _ Votes of thanks were accorded to the cnairm&n for his energetic ork J" beha'f of ♦he com any, as also to tho mine manager, Mr. L. E. Autndge, and Messrs. Manning and Simons for special as sxstance during the past y/?ar. SOUTHERN GRAIN MARKETS. [BT TELEGRAPH.— ASSOCIATION.] CHEISTCHraCH. Friday. ,•' „ « local grain and produce market con- '•!«» very omej. Offerings of wheat are iw?l- ft ? d i °!l S are » ah H scarce. The shortage of storage accommodation tod ship'?i > iflsultmg in merchants closing down on almost all bulccy lines. For, this reason oatsheaf chaff is now difficult to dispose of, rod nominally iB worth £5 to £5 10b &* conntry stations for beat quality. The oats market is weaker, milling Algerians being i«\i +2? i 8d ' ? nd Bulling Gartons ; H ■ 'f 4 fieiihtry stations. C-ow-H if Belling at about la 3d to Is sd, but ?<T lover is much weaker, and best quality worth only Is 6d to Is 9d. The HSS are now dull of sale Pnrf itatfoJ? mS aU ° ted at 78 to 78 3d at country PROPERTY SALE. t7 aile Sons, Ltd., report hav- , ing sold by auotion yesterday, by order of & e r T?tr e § ee ' und *Z control of the trur or the Supreme Court, a six-roomed tmi'. £670. B m Ratß^a Stteot « Mount Eden, for