COMMERCIAL.

New Zealand Herald, Volume LX, Issue 18547, 3 November 1923, Page 9

COMMERCIAL.

NATIONAL INBCE. JUBILEE. r DIVIDEND AND BONUS. CAPITALISATION OF £100,000. tBX TELKSttATH. —fBESS ASSOCIATION.) DUNEDIN. Friday. The annual report of the. National Insurance Company,, for the year ended September 30. snowii that the net income was £2267285 10s lid. The underwriting surplus is £36,536 13s 3d Interest ana rent, alter deduction of income tax. amount to £29,211 13« 3d. while the balancS Brought forward was 30,897 ißa 4d. The sum of £20,000 has beet transferred from investment fluctuation account to profit and low -account, making £116.146 4s lOd available for distribution, . An interim dividend was paid in May, which absorbed £12.600. The directors have added to the reserve fund £50.000. They now recommend the payment of a further dividend of 2s, and -a jubilee bonus of 3d per share, which will absorb £22.600. The total distribution for the . year will thus be 38 (3d per share, making. in all £35,000. It is proposed to carry forward £31,146 4s lOd. and to , capitalise a sum of £100,000 from the reserve fund in accordance with the promise made to the shareholders at last annual meeting of the company. Following is a comparison of the comf>any's results and appropriations for the ast three years 1920-21. 1921-22. 1922-23. £ •£ £ Brought forward . . 30,811 30,729 30.398 Surplus' ■ . . . 28,053 24,457 38.530 Interest and Rents 24,365 27.711 29,212 From Int. Reserve — — 20.000 Totals '.. '.. £85.229 £82,898 £116.146 To Reserve Fund . . 10,000 20,000 50,000 Int. Fluct. Reserve 10,000 — — Dividend— Rate .. .. 8s 3d 3s 3d 3s Gd Amount ... . . 32,500 32.500 85,000 Carried forward £30,729 £30,398 £31,146 AUSTRALIAN PRODUCE. Australian and N.Z. CaKe Association. (Reed. 9.5 p.m.) MELBOURNE, Nov. 2. Oats— 3s 8d to 3s lOd. Barley.—English. 3s 9d to 4s. Potatoes.—£l7 10s to £18 10s. Onione.—£6 10s to £5 16a LONDON SHEEPSKIN SALES. Dalgety and Co.. Ltd.. have received Che following cablegram from there London house, dated November 1:— Sheepskins.—Offered 3750 bales, sold 2750. Number of buyers is good. American and English buyoite are the principal. operators. Compared with last sale"! closing rates: Merino combing skins unchanged; crossbred fine, 5 per cent, higher: crossbred coarse and medium, 5 to 10 per cent, higher; crossbred short woolled 5 per cent, higher. MARKET REPORTS. 1 FRUIT AND PRODUCE. There was a livelier tone in the Auck- ; land city markets yesterday.. An increased 1 supply of new season's fruit is. becoming » avafiable. Strawberries are arriving in increasing quantities, and are consequently selling at lower rates. FRUIT. ; There was a good supply of fruit yesterday, apples being in fair Quantity. Delicious realised from 9s to 12s a case, . Stunners lis to 13 8 6d. Doughertys had Tale at* from 6b to 9s. Rome beauties made 9s 6d to lis. Gooseberries sold at from ' 13s to He. Hothouse tomatoes realised from Is to 2f. 3d per lb., while tree tomatoes made from 8s to 20s a case. Straw--1 berries sold at from Is 6d to 2s 8d a chip. Ripe bananas made from 28a to 325. Repacked oranges sold at from 24s to 275, Valenciaa from 16s to 21s. _ Sydney passions brought 15s to 245. Pines realised from 10s to 14s. PRODUCE. Southern potatoes were practically- unsaleable. New potatoes sold at 2d to 2id ' per lb., seconds Ad to lid. Melbourne onions had sale at Os, while American ' onions made 24s a crate. Kufliaras sold at 2Jd per lb. Cabbages realised from 12a i to 18s a sack, and cauliflowers were bought at from 83 to 13s. Green peas sold at i from id to 6d per lb., broad beans 2id ■ to 3d per lb. French beans brought.ls (id to 2s per lb. Asparagus made fid to Is (Id , a bundle. Hothouse cucumbers sold at 6s to 12s a dozen. Lettuces brought from M to 2s 9d a dozen. Rhubarb, of which . -there was an over supply, made :2s. to 4s a dozen. Carrots, parsnips, beet and turnips sold at from Is fid to 8s a dozen. • . ~"'/ POULTRY. ''* In* spite of a large supply of potatry, the demand was very fair. Heavy cockerels realised from 6s fid to Bs, light birds from 3s to 6s fid. Roosters made 2s to 4s 3d. Heavy hens had sale at from 2s 9d to 6s 2d. light bringing 2s to 2si Aid. Young drakds sold at from 3s to 4s 9d. Old ducks made Is fid to 2s 9d. White ! Leghorn chickens had sale at from Sd to 6d, , the heavier Black Orpingtons bringing -id to 9Jd. Ducklings sold at from 6cl to DAIRY PRODUCE, . . Eggs were a glut on the' market, and , farmers' butter, of which there was a large suppiy, was hard to Quit. Hen eggs made from Is lid to Is 2d, prices ranging higher in a few exceptional oases. Duck eggs sold at from lid to 12d. Farmers' butter made from is to Is 4Jd. CANTERBURY PRODUCE MARKET. . BUSINESS REPORTED QUIET. ~ [BY TELEGRAPH.— assocutiok.] - CHRISTCHURCH, Friday. Business done in produce recently has been of a negligible Quantity, and owing to the proximity of carnival week nothing of importance will be transacted until the following week. - i Potatoes.—A few small orders have come to hand for potatoes from the North, Welt lington inquiring for Dakotas mostly. On* or two small parcels of patotoes have also been sent to Auckland. Wheat: During the past few days inquiries have been made for hunters by millers and biscuit-makers, but it is impossible to get any good samples in Christchurch. Peas: Cabled advices received this week .from London indicate that the probable": prices for next year will ■be on a basis of 66s per quarter of 50'i11)., but this doe* not hold much in'lucement to growers, 'as better prices can be obtainod locally for delivery in March and April; f.a.Q.'s for immediate delivery have been sold at 5s lOd, f.0.b., 8.1., for shipment to Liverpool. Partridge peas have , bean let out on contract to be grown at ss. Ryegrass: A little movement has been apparent lately for snipment to the North Island, and a number of small parcels have ■ been sent North by merchants on a parity of 7a 3d for 27--281b. Chaff: A fair number of sales have been made lately to Auckland at £6 16s, f.o.b. 5.1.. sales in many cases being made from samples. ■ DAIRY PRODUCE IN LONDON.'. Dalgety and Company, . Limited, are in receipt of the following cable from their London office, under date November 1:— .- Butter.— weak, with little or no demand, and the future is difficult to forecast. We quote : New Zealand butter, salted, at 1888, exceptional brands at 190 a: Danish butter, 2025; finest Australian salted, 188s. Australian quotation is for new season's. Cheese.— very quiet. New Zealand, coloured, 109*. white 106s: Canadian c.i.l. quotation 101s 6d. The general opinion is I that the bottom of the market has been reached.. ; .,...:. ■-~ .j _ ...i..-_. i FROZEN ( MEAT MARKET. : " ; Dalgety and Company, Limited, are in re--1 ceipt of the following cablegram from their London office, under date of November 1:— Frozen Meat.—Prime crossbred lamb, Canterbury, heavy 9|d light 10Jd; North Is- > land, heavy 9d, light 104 Demand principally for light-weights, and market weak. Prime crossbred mutton: North Island. > heavy 7d, light 73d. Demand limited and. market weak. New Zealand prime, ox beef, hinds 4)d. fores 3d. Demand fair and mart ket steady. G.A.Q. crossbred lamb. Australian, light 9d. Demand poor. G.A.Q. r crossbred mutton. Australian, light 83d. Demand poor. No forward galea reported; i spot market, all descriptions of frozen* meat have been extremely limited during the ' week. .. '■■•■ ' . ' . 4 r - WHITE ISLAND SULPHUR. The announcement of the registration of a the White Island (New Zealand) Sulphur Fertiliser Company in London, has aroused considerable interest in Auckland, In this i connection, ,it may be stated that Mr, A. ] A. Mercer, managing director of the old White Island • Sulphur Company, and Mr.' W. H. . Willoughby. formerly of Howiok, managing director in New Zealand for the r same company, are both at present in Lon-