COMMERCIAL.

New Zealand Herald, Volume LXII, Issue 18950, 23 February 1925, Page 7

COMMERCIAL.

THE LONDON "MARKETS,. FROZEN MEAT. Australian and N.Z. Cable Association,. (Reed. 5.5 p.m.) LONDON, Feb. 31. Sheep.—Canterbury, light, 9 3-8 d; heavy, Bd. North Island; Heavy, 7|d. Now Zealand ewes, 7id. Argentine*. Medium, 7id; heavy, CJd; ewes, 65d. Lambs.—Canterbury; Light, 12'Jd; medium. 12 5-Sd; heavy, Is; seconds, 3s; other seloctedg, light, 12id; medium, 12|d. North Island; Firsts, 32 3-8 d; seconds, 112 d. Victorian; Firsts, lljd. Frozen Beef.—New Zealand, fores, 4 5-8 d; hiuds. 5 7-Sd. Australian: Hinds, 5 7-3 d. Argentine: Hinds, GJd. Chilled Beef.—Argentine: Fores, 5 3-8 d; hinds, 7Jd. Uruguay: Hinds, 61 d; others unchanged. COTTON, RUBBER, HEMP, ETC. (Last week's quotations in parentheses.) Cotton.—March deliveries, 33.27 d (13.43 d). Rubber.—Para, 37d (17d); plantation and smoked, 17 7-8 d (17{d). •lute.—February-March shipments, JE4O 2s Gd (£3B 17s). March -May shipment?, £42 (£4O). Copra.—February-March shipments, £2B 7s Gd (£2B ss). Linseed Oil.—£so 10a (£sl ss). Turpentine.—6ss 6d (665). Antimony.—English, £(l9 10s to £7O (£7l 30s to £75); foreign, £G6 to £67 (£6B to £69). CHICAGO WHEAT MARKET. Australian and N.Z. Cable Association. (Ilecd. 5.5 p.m.) CHICAGO, Feb. 21. Wheat.—May, 1 dollar 86 5-8 cents; July, 1 dollar 56 1-8 cents; September, 1 dollar 43 5-8 cents. SOUTHLAND FROZEN MEAT CO. SATISFACTORY YEAR. In its statement of accounts for the year ended December 31, the Southland Froisen Meat and Produce Export Company has again circulated a very satisfactory balancesheet. The turnover for the year was not as good as in 1923, nevertheless, tho position disclosed is excellent. The profits for tho year, including interest from investments and transfer fees, and after making provision for repairs, renewals, taxation, depreciation, and sundry contingencies, pjnounted to £16,596, as compared with £26,832 for 1923. There was brought forward from the previous year £26,145, making £42,741, against £38,958 in the previous year. The expenses totalled £73-17, against £7136 for 1923, and the dividend for the year at the rate of 10 per cent, (the same as in the previous year) absorbs £11,354, these two items totalling £18,701, leaving £24,040 to be carried forward. The items of the balance-sheet with the figures for the previous year in parentheses aro as follow; Liabilities: Capital paid up, £113,540 (£113,540); sundry creditors, taxation and contingent liabilities, £40,587 (£42,466); reserve, £50,000 (£50,000); fire insurance reserve, £25,000 (£25,000); building fund reserve, £25,000 (£25,000); credit balance, £29,717 (£31,822). Total, £283.844 (£287.828). Assets: Land, buildings, and plant, £121,946 (£128,095); stocks and stores, £18,139 (£16,466); consignments unrealised and London credit balances, £4722 (£18,134); sundry debtors and mortgages, £9483 (£13,662); investments, £91,904 (£78,479); cash in bank, £37,462 (£32,668); cash in hand, £3BB (£324). KING COUNTRY STOCK SALES. Messrs. Dalgety and Company, Limited, Te Kuiti, report having held their ordinary stock sale at Taumarunui on February 17, their sheep fair at Te Kuiti on February IB and their ram fair at Te Kuiti on February 20. At Taumarunui there was a good yarding of sheep and cattle. Prices for sheep, particularly the rougher sorts of ewes, showed a decline on the rates ruling at the Taumarunui fair the previous week. Failing ewes receded 3s to 4s per head. Quotations: Store wether 3, 28s to 295; good four and 5ycar ewes. '26s to 28s: medium t 21s to 235, to 255; inferior 4 and 5-year ewes, 13s to 17s to 19s; good lambs. 20s to 21s; medium lambs, 15s 6d to 17a; small lambs, 12a; Southdown rams, 6J to Signs. Te Kuiti sheep fair. A heavy yarding. There was a good attendance of local and outside buyers but the bidding was not nearly so spirited aa at the previous week's sale. Young , ewes maintained their values fairly well but prices for all other classes were easier, this*being particularly the case with aged and inferior ewes, rates for which were from 2s to 4s lower than at the Taumarunui fair the previous week. Both wethers and lambs met with an easier market. Quotations: Fat wethers, 35s 9d to 86s 6d; fat ewes'to 30s; fat lambs to 32s 6d; good Lincola 2-tooth ewes. 36s 4d; Romney 2-tooth ewes, 335. 35s 4d to 369; 4th to 5-year ewes, 32s 6d to 335, to 33s 9d; good 4 and 5-year ewes, 28s, 29s Gd, to 30s: sound mouthed ewes, low condition, 24s to 26s 6d; inferior ewes, 17s 6d, 19s 3d to 20s 6d; cull ewes, 34s to 15s 9d; good 2-tooth wethers, 275, 29s to 31a; forward wethers, 32s 9d to 33agood rape lambs, 20s, 20s 6d to 21s; small lambs. 12s 9d to 14s. Te Kuiti ram fair. A full yarding of rams representative of Jvorth and South Island breeders. During the early part of the sale all classes sold readily at prices in vendors' favour but toward the end of the day although some first-class sheep .remained to be offered, the attendance dwindled away and many lots were passed in and failed to change hands. Quotations: good 1-shear South downs, 10} 31 to 12-Jgns; good J-shear Ro mieys ranged from 8 to 32gns: plainer sorts, 6 to Signs, and inferior kinds 3 to 4gne. u