COMMERCIAL.

New Zealand Herald, Volume LXI, Issue 18703, 8 May 1924, Page 7

COMMERCIAL.

LONDON PRODUCE MARKET. BUTTER AND CHEESE PRICES * ■ ■ ■ fax TELEGRAPH. —PRESS ASSOCIATION. ] t : ; -.J , WELLINGTON, Wednesday. The of Agriculture has received the following cablegram. dated May B. from the Hi ah Commissioner, for New Zealand. London, J 1 Butter.—New Zealand • market ■ Quiet i at the advance. The rise in Danish is > principally due to Germany buying. Official quotations are:— Zealand: Salted, finest. May 3, 170s to 17 per cwt.; April 28, l|64s to lS8a; April 17. 152s to 1545. Unaajted: May '3, 17Ga to 182s; April' 26, 13Qa to 172aj April 17, 1549 to 158 a. Other qualities: May 3. 140 ft to 158s. Australian: Salted, finest. May 3. 160s to 1625: April 2% 150 a to 158s: April 17. 188s to 142s Wnsalted: May ;8. 164s to 166 a: April 26. 154s io 168s: April 17, 144s to 1484. Other qualities, salted and unsalted: May :3. 180s to 15Cs. Argentine: Finest. May 3. 148s to ISCs; April 26. 188s to 140s: April 17. 134s to 188&. Other qualities: May 3. 126s to 1465. Danish (market slow); May 3, 2025: April 26. 174s to 1765; April 17. 169s to 170 a. . ' , Cheese.—! Market quiet at last durations after the rise to about 90s per cwt. early this week. Official quotations ■' are:— lish: Finest farmer®' (market steady). May 8, 140 ato 145s per cwt.; April 26. 140 ato 1455: April 17. 140s to 14Ss. New Zealand (market quiet): May 3. coloured ? and white," 86s to BSs; April 26. coloured and white. 86a to 88s: April 17. coloured apd white. 83s to 84a. The estimated cheese stocks availabla on * May 1 at wharves and docks, London. Liverpool and Bristol, were: —Canadian and American, 5050 boxes: New Zealand and Australian, 131,200 ' crates against 14.100 boxes and 31.200 crates respectively for some tim» last year. —Manila market>closed dull, with Boilers "J" grade. M&v-July shipments, asking £87 10s. New Zealand market continues quiet and no business, reported. MayJuly shipments quoted at. hisbDointa. £36 15s: fair, £34 10s, Wool.—-Bradford market loss active, but values Generally maintained. Prioes for tops are:—64's (Merino).. 5s lid: - 56's (super halfbrad). 43; 40's, prepared (coarse crossbred), 2s B}d. v —Market quiet but steady. Present quotations are:—New Zealand,' white, 77s (Jd to 85s per cwt.: New Zealand, light amber, <£5s to 755: Canadian. 55a to 72s 6d: California®. 64s to 70s: Jamaican. 40s to 60s: Cuban. 85s to 60s: Chilian. 40a to 60s. Fruit.All apples ex s.s. Cornwall, with the exoeption of hard varieties, are disappointing and flesh collapse in more serious than was expected. Cox's Oranee effected very seriously, and thin variety hft£ been auctioned in order to dispose of the fruit. Prioes were 4s to 15s per case. Very few American apples coming and market practically cleared. Prices from 4a to lis. Very heavy stocks of Australian apples on hand. Prices for bast varieties South Australian Jonathans, lis 6d to 12s 6d: Cleopatras. 12b Gd to 189 6d; other sorts, 5s to 9s 6d. Other Australian, 9s for ordinary to 15s for Cox's Orange. Prices for New Zealand are.*—-Cox's Orange, 5s to 18s per . case: Jonathans. 12s to 16et Dunn's Favourites. 18s to 16a: King- Davids, 14a; Ribston Pippin, 18s to Its; Adams' Permain, 14s to 15s: Worcester Permain. 14s to 15s: Sharp's. 8s to 8s 6d. .Shipments of New Zealand produce arrived this week per s.s. Port Sydney, Sulfolk and M:\takana. LONDON" WOOL SALES. . PRICES WELL MAINTAINED. Australian and N.Z. Gable Association. (Used. 7.35 p.m.) LONDON. May C. s,'ho' sixth series of wool sales opened to a firm market. There was a very miscellaneous and unattractive selection, including numerous speculators' lots, on which a high reserve had bean placed. Many of thane ware withdrawn as the ■ sales proceeded. Consequently buyers became hesitant, The general tone was not equal to that of the Liverpool sales, . but prioes. both :< for Merinos an 4 cruicbrede were generally fairly well maintained at last London closing rates. In slipoa and scourods there--was - a strong market at the full late London rated. Top prices for New Zealand lots were realised for Longburn, 87d; G.F.M., Ssid; and WF.M. (lambs), 86|d. ■ i —■ —; ■' "■ -~t ■ -BURNS; PHILP AND CO. A DIVIDEND OF 10 PER CENT. The annual report of Burns, Philp and Company for the year ended March 81 states that the gross profits from all sources (including balance brought forward) amount to £642,259 17s 4d. lees salaries, expenses, taxation, depreciation, losses, etc., leaving a net balance of £165,311 13s 7d to be dealt with. It is proposed to opportion. the sum named as follow®, vis.: To payment of la per share . dividend (on, 1,250,000 shared), £ 62,500} payment of Is per share bonus (on 1.260,000 shares). £62,600; reserve fund (making » total resorva of £400,000), '£ 50,000; and to carry forward the balance of £10,811 JLBs 7d » The directors state thai steps are being taken to augment the company fleet by an up-to-date passenger and cargo steamer to replace he S.S, Mindim, lost in . Maroh, 1928, while returning from the Solomon Islands to Sydney. 1 Tender? have been called on plans and specifications drawn up by the company's superintending engineer, who is now in England to supervise her building. Feeling reference is made to the death of the chairman, Sir Jamas Burns, who inaugurated the business • a little over half a century ago. • Following is % comparison of the company's results for the last three years: ? 1921-22 1922-23 1923-24 « jg i Brought forward , 1 6.081 8.854 8.649 Net profit .. v. 170,873 172,795 178,663 To Reserve fund t 25,000 25,000 50,000 Dividend— Bate p.o. • < 10 10 10 Amount • . , 125,000 125,000 125.000 Fleet depreciation ■ fund .. 25,000 25,000 — Carried forward £8,854 £8,649 £10,319 BANK OF AUSTRALASIA. DIVIDEND AND BONUS. The accounts of the Bank of Australasia show that after providing for rebate on bills our rent, for British and Australian rates and taxes, and making provision for bad and doubtful debts and other contingencies, ' the' net, profit for the year amounted to £618,558.. This compares with £620,105 in the .previous year. To the first-mentioned sum.nas to be added £121,868. brought forward from the previous year, making a total of i. 740,427. From this the directors have appropriated £ 520,000, representing for the yaar a dividend at the rate of 10 per cent, and a bonus of 3 per cent., both free of income tax. ,A sum of £100.000 has been added to tha reserve fund, and £120,427 has been carried forward. FROZEN MEAT SUPPLIES. SHIPMENTS FROM NEW ZEALAND. The " following figures give , shipments of beef, mutton, and lamb by the New Zealand Meat Producers' Board: November: Beef, 8690 quarters: mutton. 56,241 carcases; lamb,, 81,951 carcases. December: Beef, 1405 quarters; mutton,' 48,095 carcases; lamb, 202, carcases. January: Beef, 1595 quarters; mutton, 120,366 carcases: lamb, 636,253 carcases. February: Beef, 20,200 quarters; mutton, 230,786 carcases; lamb, 704,933 carcases. March: Beef, 56,652 quarters; mutton, 382,139 oarcaEfes; lamb. 636,618 carcases. April 1 to April 15: Beef, 19,219 quarters; mutton, 78,875 carcases; lamb, 220,444 carcases.' Totals: Beef, ' 109,761 . quarters; mutton, 91M92 carcases; lamb. 2.382.789 carcases. The killings at all works during the 192324 season, from November 1 to April 15, were as follows:—North Island: Beef, 163,582 quartets; wethers mutton, 756,632 carcases; ewe mutton, 441,187 carcases: lamb, 1,883,332 carcases; sundries. 157,125 freight carcases. ■ South Island: Beef, 504 quarters; wethfer mutton, 105,276 carcases; ewe mutton. 168,627 carcases; lamb, 1,902,757 carcases; sundries, 29,801 freight carcases. Total: Beef, 164 088 quarters: wether mutton, 861.908 carcasestewe mutton, fP.TIi egresses: lamb. 3,786,039 oarcases; sundries. 186,926 freight carcases. . THE LINSEED . MARKET. : ADVICE FROM CALCUTTA The Department of Agriculture has re- ! ceived the following cabled advice from Calcutta, under date. May 3. regarding the . linseed market:May-June shipments quoted at £18 7s 6d per ton. c. and f., Syifc'-ey. The market is steady.

J STOCK SALES. . AUCKLAND. Dalgety and Co., Ltd., report having held their weekly sale of fat stock at Westfield on Wednesday, as under:- _ . . Beef.—A large yarding. Prices for extra prime-. beef was about the some in some cases, but taking tho market throughout, ; things . were perhaps -a- little easier. - quote:—-prime ox, 3Or per lOOlb; choice and prime, 26i»'to 289j other, 22a to 255; prime young cow and heifer beef sold from 28b to 28a per 1001b; other. 15s to 225. Sheep. good market, prices slightly easier for ewea. Extra prime heavy wethers made 88a Od to £'I 0s 6d; prime heavy wethers, 87a :6d to Bils 6d; medium , wethers, 353 to 375: light and unfinished, 82a to 34s 6d; email, 29s to 31s 6dj best heavy prime eweq made from 28s 3d to 31a; good ewes, 26s to 235; light and unfinished, 20s -to 25b. . ■ , ' Lambs.A good yarding sold at late rates. Beat heavy prime, 28s Gd. to 51s 3d; good lambs, 25s 6d to 2<la; medium, 93b to 255; others, > 18S to 22a; sitiall, 18s to 17s. • Pigs.A . large yarding sold at late rates. Choppers, £210 ato £8 16s; heavy and medium baconera, £3 123 to £4 9a; light baconers and heavy porkers, £218 ato £8 10s; medium and light porkers. £2 'is to £2 17s. - . , Calves.—A fair market sold at increased prices. . Heavy prime runners, £4 4s to £5 heavy vealers, £3 10s to £4 3s: medium, £210 ato £3 9s; light. £1 15a to £2 7a; unfinished' and small, 20s to £1 12s; freshdropped, 4s to Us. The New Zealand Loan and Mercantile Agency • Company Limited, report:— We held sales during the past week at Westfield, Kgatea, and Parikura, the yards at each centre being well filled. We report a decided improvement in valifas obtained for dairy - stock, all other classes selling at late quotations. We quote: Beat dairy cows ,and heifers. £9 to £15 10s: others, £5 to £8 los: inferior Cows and heifers, £2 10« to £4 16a; bulls. £1 10s to £5 10s; empty cows, £1 6s to £2 10s; ; Weaner calvt.i, best, 18s to £1 88; others, fis to * 17s; yearling to 18-mouths hoif-Ks, £1 6s to £2 7s &d; yearling steers, £1 15s to £2 10b; 2 to 2i-year steers, £2 12s 6d to £3 15s; 3 to 34-year steers, £3 17s 6d to £5 ss; 4 to 5-year steers £5 10a to £6 7s 6d. Beef at fully. Westfiela quotations. At Westfield fat stock market on Wednesday beef was penned in larg'a numbers, all classes celling at late quotations. Extra choice . oxen sold to'3os per 1001b.; choice and prime. 2Gs to 29s per 1001b.; plain and unfinished. £22s to 35s per lOOlb.: prime young cow and heifer beef, 24s to 26s per 1001b.; other cow beef, 18s to 23a per 1001b.; rough beef, '12s to 17s per 1001b.; no extra "®?vy prime steers were penned. Heavy prime steers sold at from £11 6s to £13 16s; medium. £9 to £11; light. £7 to £8 17a 6d; smaller and unfinished steers, £8 1.5s to £6 17s 6d: heavy prime cows and heifers. £7 to £S 16s: medium, £5 15s to £6 IBs; licut, £4 to £5 10s; forward cows, £2 10s to' £8 17s fid; poor cows, £1 5s to £2 sa. Calves were penned in less than average numbers, selling nt lr-te quotations. Runners, £8 15s to £4 7s; heavy vealers, £2 13s to £3 14a; n->idium vealers. '£1 16s to £2 lis; light vealers, £1 to £1 15s; smaller. 13s to IPs; small and fresh-dropried, 5s to 10s; roush calvs, 15s to 28s. Pitts were penned in smaller numbers, prices being firm at last week's quotations. Choppers, £3 5s to £4 4s: heavy and mtedium baconera, £3 IGs to £4 9s; light baconers ! j v 07 p0l "! f0rs - £1 4' to £3 15s: medium and v light porkers, £3 12s to £3 8s; large stores. £1 7a to PA lis; slips. £1 to £1 6«: weavers. 12s to £1 3s. Sb«ep , were pfenred in Average numbers, selling under steady competition nt Into ouotations. B:eavy prime wether*. £1 17s 9d to £1 18s 9d; medium, £! IRn to £1 1.7s Gd: light.' £ I 14s to £1 15? sr'ftllor • »nd unfinished wethers. £1 10s to £1 n- 3d; heavy prime ff'o 4 1 I 1! to; £1 13s 9d: medium, 8. o f 3 - 0 , *- 1 , n ? : £1 r> " fid to £1 "« mfenorlr-fftttod ewes. 18s to £1 ss. J'ftmbs were penned in ' avenge numb*™, nlnntr at In.te quotstions. Heavy prime /,1 s r, M: medium. £1 • t"/, 1 7 v Sf , : £1 3s to £1 ss; 12s to 16s aT best, to £1 2s; others, 12s to 168 9a. Alfred Buokl&nd and Sons, Ltd., report:—• r inuring the week we held sales at Westfield, Waiuku, Tuatau and Pukekohe. There continues to be a steady demand for all classes of store and fat cattle. Dairy cattle ftro timet, unless, something good at profit. Urown steers m forward condition £6 5s to £7 5b- three and a half to four and a-half-year-old steers. £4 5s to £5 15s; two and a-naJf to throe-year-cld steers, £3 5s to £4; yearling* to tv.ear-old steers, £1 IBs . to *3; empty young cows, £2 5s to £3; store cow#, £1 to £2; yearling to two-year-old heifers, *I>. 10s to £3 ICa; good calves. A'i to £1 Ga; smaller calves, 14s to 18s; small ana weedy calves, 8o to 13s; fat steers, £7 to £9 2s -0d ; fat cows &nd heifers, £3 to £7 16s; best dairy cows at profit, £10 to £13- 15s; second" grade cows. £6 to £9; others, £1 10a ■ upwards. There waa a jieavy entry • of Pics at - the.* special sale of pigs held ■ at Pukekohe ;on Tuesday and a keen demand at fully Westfield rates. ' - Yesterday at our weekly Westfield fat stock market we penned beef to the number of 787 head,, comprising. -414 steers, 809 cow* and heifers ' and 14 bull stags. • There was a marked improvement in. the' quality of the ox. beef, many consignments being equal to, anything ever, yarded at Westfield. In, odd oases last week's values wore maintained. but generally prices were - easier. Extra choice ox sold at Is 10& ner 10C>lb; choice and prime ox, £1 6b to £1 9b; ordinary and plain ox £1 33 to £1 5s 6d; prime young cow and heifer beef, £1 to £1 ss; ordinary cow beef, 15s to. 19s; rough beef. 7s to. 13s; extra heavy prime steers ranged in price from £14 to £15 15s; heavy prime steers, £11 10s to £13 15s: lighter prime steers, £9 10b to £11 7s 6d; light prime steers, £7 15a to £0; unfinished and small, £5 10s to £7 10a; extra heavy prime young cows and heifers, £8 10s to £10; heavy prime young oows and heifers. £8 to £8: lighter, £4 to- £5 15s; other oowb, £1 10f to £3 15s; bulls and stags, , £1 10& to £7 lbs. There were 172 steers which cold at from £10 10s to £15 15s and one line of 17 oows avaraared £9 So ad. The sheep peni» were comfortably filled with a nice class of mutton. There was a keen Remand and values remain very firm. Heavy prime wethers, 1 £1 18a 9d to £2 Is; medium to heavy prime wethers, £1 18s 6d to £1 18a ia- light prime wethers, £1 14s to £1 16s; unfinished wethers, £1 10s to £1 18s 6d; heavy prime ewea. £l 10s -to £1 13s 9d; lighter fat ewes, £1 la to £1 9s 6d; other tollable ewes, £1 8s 6d to £1 6s 6d; other owes. IGs to £1 8? (1857 sold). There was u fair I'.uoply of lambs, which, met with ft strong ealo at slightly higher rates. Extra i heavy prime. £1 lis 6d to £1 13s Gdu heavy prime. £1 7s to £1 10s: lighter prime, £1 4s 6d. to £1 Be &d: light, £1 * to £1 ''i unfinished, 15s to/ £1 Is 6d (224 sold). Calveq were penned in average numbers, competition was keen and last week's improved values wore fully sustained. "Heavy ! vealers brought from £2 12s to £4 _4s; medium vealers. £1 10s to £2 10s; light vealers, £1 6s to £1 15s; small and freshdropped, 2s to £1 2s (ISO sold.). There was a heavy yarding of pigs, All classes sold readily with the exception of light and medium porkers, prices for these easing ■lomewhat. Heavy baconers, ;£4 to £4 12s; light and medium, £8 2s to £3 1(>3; neavy porkers,, £215 ito £219 a; light and medium porkers, £2 to £21 12s; choppers up to £4 Ifjs, for an extra hoavv young sow. Store piss at late rates, made from £1 5 s.to £1 18a; wcaners from 9a to 15s (638 sold). . ADDINGTON. [BY TELEGRAPH.—; ASSOCIATION.] CHBISTCHUBCH. Wednesday. At tie Adding ton market to-day the yarding of fat cattle' and sheep was one of the biggest on record, due, no doubt, to .■ the burst of winter ■" last week making the holder of forward stock apprehensive about, feed resources. Store sheep and old ewes predominated. There was a good sale for all, quality . sheep, particularly .wethers. Prices ; were:—Good - two-toothed halfbred ewes, 423 (id; ordinary, 33b 3d to 355; soundmouthed halfbred ewes, 293 9d; soundmouthed crossbred ewes, 28s sd; sound and failing-mouthed halfbred ewes, 25s to 23s Id; aged halfbred ewes, 14s lid to 21s;> aged halfbred empty, ewes, 16s Id, to 16s 9d; aged crossbred ewes, good condition, 18s Cd to 22a 3d; lower 'condition, 14s to 17s 6d: good forward four .and six-toothed halfbred wethers. 32s 6d to 34s 3d; four, six and eight-toothed halfbred. wethers, 30s 8d to i 31s 3d;" good forward two-toothed halfbred wethers, 42s Gd: ordinary twotoothed, halfbred wethers, 25s to 27s lid; forward, three quart lambs, 22s to 25s 8d- ordinary, 18s to 21s; good mixed-sexed halfbred lambs, 24s 4d; threeouarterbred «we lambs, 25s Bd to 27sj halfbred owe 'lambs, 23s to 295; email crossbred ewe lambs, 22s Bd, small and inferior lambs, I 14s Gd to 17s Gd. Fat Lambs.There was an average yarding of 3130 head, and a keen sale, easily the beet of the season. Prime lambs made from IOJd to lid per lb, overweights and lightweights lOd to IOJd. . Pat —There was a very heavy yarding of 13 races, the average being about nine. There was' a good Bale, exporters operating freely, and the big yarding was cleared. Extra prime wethers. 50s; a few special, 57s Gd to 625; prime, 37a 6d to 42a 6d; medium, 33b fid to 36s Gd; light, 80s to 335; prime ewes. 31b to 34a; medium.: 27s 6d to 30s 6d; light. 23s .to 275; old 18s to 22b. . ' Fat Cattle.Th© yarding was about the largest on record, comprising 670 head - A let of light stuff, wafl included, but all good beef sold with freedom. Prime beef made from 31 to 34a per 1001b., medium 27s to 30s 6d, lipht 24 to £6a 6d, and roueh down to 163. Special steers made from £18 to £•20, good £12 to £15, medium £3 to £11, ' ; prime heifers £7 to £10 15s, prime cows £6 10s to £10 ss. Vealors.Some good station lines were forward, and -sold well. Burners, £5 to £6; good vealers, £3 16fl to £4: good calves; £2 to £3 f>s; small calves, 5s to 255. Store Cattle.—-The yarding was voflry heavy, mostly of -poor class. There was a fair sale. Somo three-year Btcera made to £5 10F. : ' Dairy Cows.— largo yarding,- and springers 'old { well, . cows, making to £11 and. heifers to £10 10a,. inferior down to . 50a. . i■••'T.i-' ' Fat . Pigs.There, was a good ' entry. Baconers sold fiTmlv. but porkers ; were weaker. Avernrre p'i'-p of bacon, per lb., 6d to 6Jd: rorkcvs.* 7}d to B}d. •- ..-ii.k'Hv.' Store Pics.A slack sale. Large stores, 40s; medium, 26s tc 3Cs;- clips, lis to Ids.».