COMMERCIAL.

New Zealand Herald, Volume LX, Issue 18549, 6 November 1923, Page 7

COMMERCIAL.

LEYLAND O'BRIEN TIMBER.

DIVIDEND OF TEN PER CENT.

_ The twenty-sixth annual report tof the Leyland-OBrien Timber Company, Limited, to be presented to the sharenolders on November 28, again records . & satisfactory year's business. After providing for income tax, the profit for the year, including the balance brought forward, amounts to *82,828 33s 2d. From this the following appropriations are ■ recommended: To payment of * dividend aj 10 per cent. (free of.income tail, 5 per cent, of which was paid m. April, £8000; to directors' honoraria, £600; to caiyy forward. £24.228 13s 2d. • _ , The retiring ditectora, Sir Geo. Elliot and Mr. S. H. Leyland. oner themselves for reelection.

The capital of , the company, is now ■680,000, having been increased flince last report by £10,000 by the capitalisation _of that amount trom the general reserve, which now stands at £55,896, while the reserve for income tax is £19,921. Following is a comparison of the companya results and appropriations for the last three years:-— „ 1921. 1922. 1923. Brought forward .. £6270 £8,235 £16,538 Net profit . . . . 9565 15,903 16,290 Dividend, per cent. 10 - 10 10 Amount . . . . 7000 7.000 8,000 Directors' honoraria 600 600 600 Carried forward ~ £8235 £16,538 £"4,228 LONDON MEAT MARKET.

PRICES AT SMITHFIELD.

[BY TELEGRAPH.PRESS ASSOCIATION.] WELLINGTON, Monday. The New Zealand Meat Producers' Board has received a cablegram from us London office dated November 22, advising that the Sniithfield "delivered" prices at taht date, were as follows:— New Zealand, wethers and maidens: Canterbury, quality, selected brands, sGl'b, and under., 81d per lb.; 57 to 611b., 7Jd; 65 to 721b., 7jd; other brands, 561b. and under, 7ld; 57 to 64.1b., 7*d; 65 to 721b., 71d. New Zealand ewes: G4lb. and under. Old. New Zealand lamb: Canterbury, quality, 361b. and under, lid; 37 to 421b., 10jd: 43 to 501b., 9Jd; seconds, 10d; selected brands, 361b. and under, 10 Id.; 37 to 421b.. I0id; other brands, first quality, 421b ana under, 9}d; seconds. Old. New Zealand beef: Ox, fores, 3Jd; hinds, lid; cow, fores, 3d; hinds, 4d. Argentine, chilled beef: Ox, fores, '3id; hinds, 5Jd; frozen beef, ox, fores, 3}d; hinds, sid. The lamb and ewe mutton market is firmer, with a better dfrmrmd generally. The. first shipment of the new season's Ausalasian lamb was sold at 10Jd par lb., o.i.f. PORK PRICES TO BE CABLED. '[BX TELEGRAPH. —PRESS ASSOCIATION.] WESTPORT, Monday. At the request of Mr. H E. Holland, M.P., the .Minister for Agriculture has arranged with tho Meat Producers' Board to have the price of pork included in the Quotations cabled from London. MEAT COMPANY'S LOSS.

DEBIT BALANCE OF £4595. [BY telegraph.press ASSOCIATION.] WELLINGTON. Monday. The directors of the Wellington Meat Export Company report that an a result of the year's operations the profit and loss account shows a debit balance of £4595. All consignments of meat have been realised since the closing of the books, and the prices obtainod have justified the valui. on placed thereon. The company's loss is stated to. bo due: (1) To the excessive price? paid under extreme competition for live stock as compared. with selling pr> *es in London; (2) the keenness exhibited .by various companies to secure supplies to keep their works employed; (3) the higher cost of working owing to the reduced output. The reduced output is stated to be due to the multiplicity of freezing works. The Increase in the export of frozon meat, which was anticipated when the extra works _ were built, has not materialised. In view of the reduced earning power of the works, owing to the causes mentioned, the directors have considered ill prudent to write down the value of the buildings, machinery, p'nnt, by £50,000, and to provide for this lie sum stated had been transferred ii qui uie reserve account.

LONDON PPODUCE MARKETS. A. H. Turnbull and Co. are In receipt of & cablegram from W. Weddel and Co., dated London, November 3, regarding the dairy produce market, as follows:— Batter.—Danish, 200s to 2035; New Zealand, unsalted 2045, salted 185s to 188b. Butter very slow. Cheese.—New Zealand, first grade, white 10G8. coloured 108s to 110s.

LONDON SHEEP SKINS SALE. Dalgety and Co., Ltd., are in receipt of the following cablegram from their London office, under date November 2:— Sheepskins.—Merino throe-quarter to full woolled, 17d to 20d: Merino quarter to half woolled, 3d to 16d; short and shorn, 8d to 10d; fine crossbred threte-quarter to full woolled. 14d to 19ld; medium and coarse crossbred three-quarter to full wfiolled. B|d to l!id; fine crossbred quarter to half wooll'd, 9d to Uld: medium and coarse crossbred quarter to half woolted, 6d to 10Jd; short and shorn crossbred. 6d to 9d: lambs. 10{d to 16id.

MANAWATU STOCK SALES. Dalgety and Co., Ltd.. Palmerston North, report that at the Feilding sale on Friday owing no doubt to the Palmersfon North Show week, only four small pens,.- of sh n cam* to >>»"'• but 4l rve was a very fair yarding of cattle. Quotations: —Fat woolly ewes. 32a 9d ui o7s; i.gin »at shorn wethers, 33s sd; store cows, .35b; medium cows, .£2 13s 6d: springing heifors, £5 to £8: springing cows, £9 10a to £10; 3-year Hereford steers, £5 18a; yearling Jerseys, oross heifers, £3 4s, £4 >, to £6; "fat bullocks, £9 9s to £9 17s; fat heifers, extra good, £9 15s; fat cows, £6 to £7 sfl.

Abraham and Williams. Limited, report on the Feilding sale held on Friday:—A very small yarding of sheep, and only a, moderate entry of cattle came forward. Sheop and fat cattle sold on a par with the previous week's sale. Dairy cattle sold well, although the quality was not. up to the usual standard. We quote: ewes, to 32» 9d: fat .wethers, to 33s sd; light fat bullocks, to £7 17s 6d; fat cows. £5 10s to £6; fat heifers. £6 to £9 15s; 3-year steers. £5 3s to £5 18s; springing heifers, £3 10s. £5 15s to £9 10s: dairy cows, £4 15s, £5 10s. £6 '2s Cd. £7 10s, £9. £10. to £13 10s: yearling Jersey heifers. £ 3 4«. £3 Bs. £5 10a, to. £6; forward cows, £2 5s to £2 18s Cd; store cows, 22s 6d, 245: Jersey bulls, £2 10s. £3 15s. £4, £5. £5 10s. to £8 ss.