COMMERCIAL.

New Zealand Herald, Volume LXI, Issue 18814, 15 September 1924, Page 5

COMMERCIAL.

THE LONDON MARKETS.

FROZEN MEAT.

Australian and N.Z. Cable Association. (Kecd. 6.5 p.m.) LONDON, Sopt. 13. Lambs.—Canterbury, light 12Jd, heavy lid; Boleoteds, light 12Jd; North Island, firsts ll£d» soconda lljd. Frozen Beef.—New Zealand, fores 3Jd, hinds Cd; Argentine, forea B|d, hinds 6}d; Uruguay, forea 81 d, hinds 4Jd. * Chilled Bcef.—Argentino, fores 3{>d, hinds 7Jd; Uruguay, fores 3id, hinds 6Jd. COTTON, RUBBER, HEMP, ETC. (Lest week's prices in partntheses.) Cotton.—October delivery, 13.11 d (lO.Ofld). Rubber.—Para, Hid (Hid); plantation and smoked, 14Jd to 14} d (14d to 13Jd) J ute.—Septcmbor-Octobor shipments, £35 5s (£3G). Hemp.—September-November shipment, ,« Co « p , ra /^°#°? lbor " ootober shipments, £29 12b Cd (±29 15s). Linseed 0i1.—£43 (£43) Turpentine.—G6a (C7s 3d). WHEAT. Wheat.—Cargoes advanced la to 2s owing to Btroug American advices coupled with good demand chiefly from the Continent. January lots sold at 58s, 58s 3d, 58s 6d and 58s 7}d. Parcels were in good request at an increaso of la to 2s. Docembor and January lots sold at 57s 6d to 57s 9d; September (Livorpool), at 57s 6d.

SHEEPSKIN SALES. At the sheepskin sales, 5800 bales were offered. There was active demand, chiefly on Home account, with a fair doraand from America and the Continent. Merinos and fine crossbreds advanced 5 to 7J per cent, compared with July prices, and medium low crossbreds, 7i to 10 per cent.

THE PRICE OP GOLD. Gold in quoted at M 12s 7d per oz., as compared with 92s lOd yesterday.

MILNE AND CHOYCE, LTD.

DIVIDEND OF 8 PEIt CENT.

Tho annual report by the directors of Messrs. Milne and Choyco, Lid., to bo presented at the general meeting of shareholders on Septetnbor 24, slates that tho profit for the year ended ? July 81 was £24,261 2s 4d, to which la added the balance irom lost vear £23.805, 10s 2d, making £47,569 12s 6d. Tho directors recommond the payment of a dividend on all classes of shares, and the debenture stock at the rate of 8 per cent., of which half was paid in April, leaving £10,000 for present distribution. The balance to be carried to the now account wiM be £27,569 12s 6d. The report records tho completion of the company a new premises, and observes that in spite of the disturbance of rebuilding. there has been an increase of turnover each year, and the usual dividend has been regularly maintained, notwithstanding that tho last year was a difficult trading one. A re-commonda-ion is made that a bonus of £2000 bo granted to tho staff. The company's capital remains at last year's figure of £250,000, comprising ordinary and preference shares, £51,250, and debenture stock, £198,750. There are also "B" debentures, £22,000, whilo other liabilities are shown by the total of £141,594, as against £91,955 last year. Stocks are shown at £155,929 (£154,038 last year); land and buildings, £195,391 (£170.999); plant and fixtures, £67,841 (£30,573); cash. etc.. £4084 <£5153 i debtors, £27.917 (£17,499) ; tho total assets being £451,164 (£378,263). Profit and loss account shows errosa profits, £134,404, as against £115,847 last year, whilo expenses •under all headings total £110,143, as against £92.570, leaving a net profit of £24,261. as against £23,27^. The company's results and appropriations for tho last three years have been as foll('"' 1921-22. 1922-23. 1923-24. Brought forward :.. £27.403 £17,882 £23,308 Net profit ... .. 6,174 23,276 24,261 Dividend, p.c w 8 8 8 A Shaw capital « 4.100 4.100 4,100 Debenture stock , 11,600 33,750 15,900 Carried forward .. "J17.882 £23.308 £27,569

THE MEAT MARKET*

SOUTH AMERICAN SHIPMENTS.

The New Zealand Meat Producers Board has received a cablogram from its representative at Buenoa Aires. South America, advising the following shipments to the United Kingdom for tho fortnight ponded September 6 from Argentine and Uruguay :—182.475 quarters chilled beef, 40,000 quarters frozen boef. 28.520 carcases frozen mutton. 37,735 carcases frozen lamb. The quantity shipped to tho Continent of Europe during tho same period totalled:— 124,450 quarters frozen beef. 11,108 carcases frozen mutton. 701 carcases frozen Jamb.

WANGANUI MEAT COMPANY-

LOSS OF £14,000 ON THE YEAR.

The directors of the Wanganui Meat Freezing Company, in their thirty-four lb. annual report and balance-sheet . state:--"W 6 regret that the year's operations havo not been profitable. Thia is attain duo to oxtremo competition for fat stock anions buying companies and exporters. The bulk of our meat this season has been sold at Homo at unprofitable- prices, but latest sales show an improvement. There is a loss, of £8204 on the year's -working, to which must be added the "sum of £6000 for depreciation, making a total of £14,204. The not debt, after deductinc tho credit balance of £2511 brought forward from last year, is £11.692, , , Tho company ha* called up all tho lower paid shares to £3 10s each, in five quarterly calls of 10s per sharo. Four of these calls have matured, and the nest is duo on October 15. Tho total amount.of capital received during tho year past is £21,922. Tho company's liability to its bankers is £94,120; debentures, mortgages and sundry creditors. £33,710. Assets are set down at £253.'203. including works, land, plant and lighter, £167.109. stock £79,786 and sundry debtors £5948.

MANAWATU STOCK SALES, Abraham and Williams, Limited, report on Feilding sale held on Friday, as. follows:—A small yarding of ahoep and an extra heavy yarding of cattle came forward including a large number of very prime fat cattle. There was. a large attendance of buyers and several outside butchers. A keen sale resulted. Every pen .of fats being quitted at prices considerably in advance of last week. All classes of sheep sold freely. Wo quote:—Fat hoggets, 30s; fat owes, 295, 335. 365, to 87s; fat wethers, 34s 9d, 355, 37s 2d (light): mixod store hoggets, 20s Bd, 23s Bd, 24s Id. 2Gs Bd. 27s to 27s 9d; 4-tooth store wethers, J34s 6d. Fat bullocks, £8 ss, £10. £10 Bb, £10 15s to £11 15s; fat cows. £4 17s, £5 7s 6d. £6. £7 17s 6d, £8 16s. £8 18s, £9, £9 25,£9 10s, £10 15s to £11 7s 6d; fat heifers, £7 10s, £9 10s, £10 2s to £10 15s; dairy heifers, springing, £4, £5 10s. £6, £7 10s to £8 10s; cows, £2, £3 5s to £4; yearling Jersey heifers, 38s, £2 12s Gd to £3 17b; store cows, 20s to £2; 3 and 4-year P.A. bullocks, £5 10s to £7 3s Gd; 3 and 4year forward S.H. bullocks, £7; 4 and 5year bullocks, £5 15s to £5 17s Cd. Dalgety and Company, Ltd., Falmerston North, report having a small yarding of sheep and a medium entry of cattle at their Foilding sale on Friday. Both fat sheep and fat cattle were in keen demand. Quotations were: Empty owes, 22s 8d; fat hoggots, 29s 3d; fat owes, 81a 6d, 365, tb £2; fat wethers. 39s 9d, £2 Is, £2 2s 9d, £2 ss. £2 Gs; Springing cows, £8 6s; cows in milk, £7; springing heifers, £3 7s 6d, £4, £4 7s Cd, £4 10s, to £5 10s; fat cows, £4 2s 6d, £5 12s Cd, £6 sb. £6 12s Cd, to £6 15s; Empty cows and heifere, P.A., £2 3s Cd; yearling Jersey-cross heifers, £2 7s Cd; store cows, 80s, 325; fat and forward cows, £2, £2 Bs, £2 15s, to £3 Bs.

TAUMARUNUI STOCK SALE. Abraham and Williams. Limited, report:— At our Taumurumu sale on Tuesday tho vnrdinc of sheep was iho smallest for about 12 months. Our yardiut? comprised 1380 head, all of which chanced hands. Competition was keen throughout and prices woro on a par with TOcent sales. Cattle were yarded to tho immbor of 212 head, mostly rough sorts, and sold well. Forty-five pigs were sold at ruling rates. Quotations.: — Fat wethers. 30s to £2: fat owes. 80s: twotooth wethers. 30s to 34s Gd; oulls. 21s fid; M.A. wethers. 30s 6d: M.A. ewes in lamb. 3&s Cd: good owe hoggets. 28s lOd: wether hoßKetß. 24s to 28s Id: M.S. hoggets. 223 to 27s 3d: B.F. hoggets, 225: small hoggotß, K*s; light fat bullocks, £6 ss; fat cows. J?3 17s Cd to £5 12a: store cows. 20s to £2 10s: empty heifers. 21s to £2: small M.S. yearlings, 16s to 30s: dairy cows, £3 10s to £7: backward sorts and poor conditioned, 25s to £3; springing heifers. £3 to £6 ss; sews in pig. £4 12.3 fid to £5 sn: store pigs, 270 Gd to 345; weaners, 21s to 225: small. 12s Gd.