GEAR MEAT COMPANY.

New Zealand Herald, Volume LX, Issue 18586, 19 December 1923, Page 9

GEAR MEAT COMPANY.

] PAST . YEAR'S OPERATIONS,' [B? TELEGRAPH. —P.RJES9 ASSOCIATION.] WELLINGTON. Tuesday. •J- At the annual meeting- of the Gear 'Meat Company to-day, the ; report, stated that * balance of £61,964 was available. ■ A dividend at tit* rate of la 6d a share was recommended. absorbing £23,000; the appropriation toward taxes was £12,500, leaving £28.464 to he carried forward. .Owing to the siitiafactoSy conditions of tho company's insurance reserve, the directors recommended the payment of a bonus of threepence per share on that account. . /j :,\ •--■■•-;■■ ■■". -.' . The chairman. Mr. ' Millward. said that the season - opened with * keen ; competition and high prices, but heavy shipments from South America and Australia brought about # change. The high prices also; checked oaoeumption and the accumulation of stock* in England led to meat being eold below cast. The wet weather .also > affected -the fattening of lambs, ' resulting in ,a. large proportion, of second Quality which had to he disposed of. The strides made .by the dairying industry, was against the interests of freezing companies, although it was favourable to the development of the Dominion. ; The prospects for the ourrenfc season were good, as Australia was unlikely to be a serious competitor owing to the drought. ■ ."!.'■•■, ' .'; ':■■ -■; ■ , ,v . The report and balance-sheet was adopted and Sir Francis Dell and Mr. v A. De B. Brandon were re-ele:tdd directors.

LONDON MARKET REPORTS. PRICES FOR PRODUCE. The Department of Agrioulture has received the following cablegram, dated December 16, from the High Commissioner for New Zealand, "London :—. '„ Butter.—The demand has fallen' off considerably, and the market is quiet at the decline. Official quotations are:— Zealand, salted, finest, December 16, 212s to 216 8 per cwt.; exceptional, 218s; December 8, 220s to 224 st December 1. 212s to *16s. Australian, salted, finest, December 16, 204s to 210s i December 8, 214» to 218s; December l, 204s to. 208s; unsalted, December 18, 210s to' 212s j - December 8, •216s to 2225; December 1. 208s to 2125. Other qualities.. December 16, IS6» to 200s. Argentine, finest, December 16. 186* to 1945: December 8, 194s to 2045; December 1, 186s to 1945. Other Qualities, December 16. 160s to 184s. Danish, December 16, 222s to 224s s December 8, 2325; December 1, 218s, to 218s. Cheese.—English is steady. Colonial. is very slow, and the tendency weaker. Official quotations are English, finest, farmers, December 16, 8. and 1. 136s to, 146s per cwt. Canadian: December 16, coloured 108s to 110 a, white 106s to 108s; December 8 and 1, coloured and white, 108$ to 110s. New Zealand: December 16, coloured 108s to 110s, white 106s to 103s i December 8, coloured and white, 108s to 110s: December 1. coloured 106s to 110s,-white 104 ato 1106', A shipment of New Zealand produce arrived to-day by the Tainui. » „ ■ Hemp.— Manila market opened quiet, but was more firm toward the middle of the week, closing quiet to steady. "J " grade, December-February shipments, sold at £34 per ton; January-March shipment*,' #33 16s. "Q " grade quoted at £39. The output ; from June 1 to November 30 this year is 1.868,000 bales, against 1.170,000 bales for the same period last year. Stocks in Manila on November 30 were 165,000 bales, against 167.000 bales for the same time last year. Stocks in' Great Britain, 15,961 bales. as against 7884, bales. For New Zealand market is steady, arid small business has beep done in highpoints at £33 6s. Present values, highpoints, £33; fair grade, £31 Ss. ISggs.Arrivals are light, and the market remains firm for all selections. English, Danish and Dutch, 29s to 87a per long 100'; Australian. Italian, 24s to 265: Lithuanian and Spanish, 20a to 25» 64; Styrian, Canadian, American, Argentine Russian, Bulgarian, and Egyptian, 12s to 18s. '

LONDON MARKETS. A. and N.Z. LONDON, Dec. 15 (delayed). FROZEN MEAT. . ■ Sheep.—Australian ewes Gd; Argentine . (heavy) 6Jd. i Jjanibe.— Zealand and other (selected, heavy, Old; North Island firsts. Old; Australian first*. lOtd; seconds. Old: thirds, Did. : i,■ • Chilled Beef.—Argentine, fore*, 4dj hinds, Bidt Uruquay fores, 3|d; hinds, -fid. 'Others unchanged. , :'":■'->,' : RUBBER AND COPRA. December and January, £25 10»; rubber, Para, Is id; plantation and smoked, le ltd to is 2d. Copra.—December and January, £&& 10s. WORLD'S SUGAR CROP. An estimate has been made by an author; ity of the probable sugar crop of. the v world tor the season 1928-24. and he places it at more than' 1.000.000 tons above the previous year. , The quantities . for, the last (ihree years of. raw isugftf and the eQUivalent in refined—in short tons «if 20061b.—are:— '" ' Raw. Refined. *'• *v-. n ■ •'■■*,-■ ' Tons. '• -' ..'.^-Tohs.'*." .. 19123-4 ». 21.286.418 = 10.161.472 ( 1922-3 ..: '/..-„■ .. 90.269,875 18360.056 V , 19',J12 s ;,. ,19.970,499 18,621,161 J Looking at '• the pro-war growth of the sugar industry he says .■ that the output doubwid about every 20, years from 1850, consumption increasing in , like proportion The crop of 1918 was. the largest ever hatvested. With the outbreak of wan the production fell off. and after hostilities ceased tne dedine continued, reaching its lowest point in 1019-20. . From that ftomt * ftradual recovery has taken place, but the ability of the European nations to buy sugar is not yet aa great »as before the war..and their actual consuming power has fallen off .by abcul 2.000.000. tons, as conipared with '1M& 14. ; Nevertheless the world's w&rketa should find no difficulty in, absorbing an additional million tons this as tee trade stocks on October 1. the beginning pf the crop year, ' were low in most countries. So that consequently a larger part of the total crop than ordinarily will pass into consumption during the first quarter of tho year. ,Even with the anticipated increase in production from the coming crop, it nt pointed out that th« available supply for the calendar year 1924 will hardly be as Urfferfte that available for the calendar year 1922. which had a large carry-over from the TtrSvieme year. In , the opinion of . the authority now quoted, about 100.000 tons of X total increase will be, from sources Xns triei United - States draw their supplies, and the rest from Ewope. w « y^^L, According to an estimate.by the Director of Sugar Experiment . stations in Queensland, >. total of the Australian sugar Jwp'of '1998 Th"likely to bejn^the -vicinity of 260.000' tons. Commenting on flit tstlt.|ate7the; Australian Sugar Journal says: — •'Due to the excellent, eroi*.in North Queensland, above Townsville, and the nigh peroentaae in the crops there, .the yield of sSgar for the present eea«dn is now likely to be aT good deal ' higher than warn anticiSited in June. - Although,'due to the severe brought, most of the southern mills >ave 'had a short season - and failed :to reifi«eT their earlier estimates., the wore northern mills have been harvesting heavier crows than hey at first expected, and some of these , mills wil.h'W. te '■ gg fu U rnl.«t tMrSor % fnSr VStent Bt;tion«;by ; 4e, v«ioas nn*».hslsnd sttffs* mills;.- it new appears llffi that aT vield of 2«0.«tO ton* " f ftu ?^ mayWroduccd!that is if the milk are •£ . ik broth all the cane they -■ expect inis will of coi'Ue, largely depend on- the re« mainder of tht W«s>jn This, with a tjroduc. Hnn in fil'lth W«1S8 Of, fMfj 17,000 ton*. Pn Vir-tor a (b#et) of WO ton*, will *««* • which should, abmit meet the eonSmt»t to? *« ■ Queensland's present estimate is realised." .•;,.-..■ >~.■■.: v.n\--.%Y- ■:

PROPERTY SALS. . Smith and v Halcombe, Ltd.. will offer for sale in , their rooms, to-day. at a o'clock, on behalf of Messrs MeKendrlek Bros two 5-roomed houses, situated Angle Street, re Pap* (by the ; sea). ■;,; : .[';.-.- ; ;-. v