COMMERCIAL.

New Zealand Herald, Volume LXII, Issue 19081, 28 July 1925, Page 7

COMMERCIAL.

DAIRY PRODUCE PRICES.

POSITION IN LONDON.

FORWARD BUYING CONTINUES* [l!\* TBLEGUAHI« —OWN COIUU'SrCNDEN'T.] HAMILTON* Monday* Tho New Zealand Co-operative Dairy Company has received tho following week* end cablegram from its London agent, Mr. J* B. Wright:— "Butter.—Anchor: salted, 1965; unsalted, 200s. Danish, 189s, after being 2045. Tho market is firm and tho forward position is still good. Tho retail price is unaltered. " Cheese. —Whito and coloured, 108s, Canadian, 107s 6d C.I.F. Tho market is quiet. Tho retail price is unchanged." [BX TELKGKATH. —POE.S3 ASSOCIATION.] WELLINGTON. Monday.. Tho New Zealand Producers' Co-opera-tivo Marketing Association's cablegram from London is as follows: — " Butter. —Tho market is steady. New Zealand, 194s to 1965; unsalted, 196s to 2003. Australian, 188s to 1925; Canadian, 186s to 1925. Argentine, 130s to 188s. Danish, 198s to 200s. Dutch, 198s. Latvian, 182s to .184s. Siberian, 172s to 180s. " Cheese. —Tho market is quiet. New Zealand whito, 109s to 1.10s; coloured, 108s to 110s. Canadian, 108s to 110s. " Tho present forward buying is duo to prolonged dry weather causing a curtailment of current and future make, also tho hot weather demand for milk and the increased consumption of cheese. Tho cheeso purchased so far is largely at tho risk of importers. Tho wholesale trado has riot operated to any extent. The present buying tends to support tho market right through tho coming season." LOCAL BUTTER RATES. ADVANCE OF ONE PENNY. Tho prico of butter in Auckland was yesterday advanced one penny a pound. The new rates are:—Superfine, wholesale, Is Bijd not; retail, Is lid. Anchor, Is 8A net; Is lid. Standard, first-grado, Is 8(1 not, Is 10(1; sccond-grado, Is 7d net, Is 9d. WOOL STABILISATION PLAN. AUSTRALIAN GRAZIERS' VIEWS. A. and N.Z. SYDNEY. July 27. Largely-attended meetings of graziers in many country towns in New South Wales considered Sir John Higgins' scheme for the stabilisation of wool values. Tho graziers passed resolutions against the adoption of any scheme at present. THE MEAT MARKET. PRICES AT SMITHITELD. Tho Now Zealand Meat Producers' Board has received tho following cable from its London office, dated July 24, advising Smitliticld delivered prices at that date as follow: — Tho mutton and lamb market remains firm, but extremely hot weather is restricting tho demand for all meat. New Zealand wethers and maidens.— Canterbury quality, selectod brands, 561b. and under, per lb.: 571b. to 641b., 7d; 651b. to 721b., 7d. Other brands: 561b. and under, 7Acl; 571b. to 641b., 6 7-Bdj 651b. to 721b. ,"6 7-Bd. New Zealand ewes.—64lb. and under, 5 3-3 d per lb. New Zealand lamb.—Canterbury quality: 361b. and under, 11 7-8 d per lb.; j 571b. to 421b., lO^d; 431b. to 501b., lOd; | seconds. 11 3-Bd. Selected brands: 361b. and under, 11 7 8d; 371b. to 421b., IOJd. Other brands, first quality: 421b. and under, Iljd; seconds, 11 5-Bd. New Zealand beef. —Ox fores, per lb.; hinds, s|d; cow fores, 2Jd; hinds, 4Jd. , , Argentine.—Chilled beef: ox fores, 32d per lb.; hinds, 7jjd. Frozen beef: ox tores, hinds. 6d. Frozen pork: 801b. to 1201b., 8d per lb.; 1201b. to 1801b., B^l. SANFORD, LIMITED. j COMPANY'S SUCCESSFUL YEAR. | The annual meeting of Sanford, I Limited, was held yesterday, Mr. A. I'. Jagger, chairman of directors, presiding. In moving tho adoption of the report and balance-sheet, particulars of which have been published, Mr. dagger said tho statement of accounts showed a very satisfactory state of affairs. Tho net profit available for appropriation, after deducting £3BIB Is 3d for tho interim dividend paid last December, was £4479 18s Bd. This enabled tho directors to distribute a further 31 per cent, on the paid up capital, making 7 per cent, for tho financial year. Tho new works wero in full swing and would not exceed the estimated cost of £64,000. During tho year, the directors decided to try trawling in Australian waters. Two vessels were sent overdo Sydney last January, but the venturo proved that' the grounds off the New South Wales coast were not very prolific, and that edible fish in those waters could not be compared with our own cither in quality or quantity. Although tho venture resulted in a loss of about £ISOO. this was more than compensated lor by the valuable knowledge gained by tho management. Sinco tho financial year closed both trawlers had been sold in Sydney for a total of £19,500. , i , Tho directors had developed a large export trade in frozen fish with Sydney, and were hopeful of increasing the trade. Five trawlers wore in operation, which meant that supplies of fresh fish arrived in town daily. Ico manufacturing was started about tho end of April, and tho fish fertiliser plant a week later. In conclusion, tho chairman said the satisfactory finances of the company would enablo it "to extend trade considerably. Several new shops wero opened during tho year, including one at Hamilton. Messrs. W. It. Twigg and G. Sanford, the two retiring directors, were reelected. PETROL FROM COAL. HIGH-GRADE BRITISH PRODUCT. At the annual meeting of the Institution of Gas Engineers, hold in London last month. Mr. Marshall, one of tho speakers, said that at his works at liattersea ho had passed over 2000 tons of coal through the retorts. Ho had had in > iew tlie production not only of a smokolcss fuel, but also a good grade of oil which would render Britain independent of outside supplies. He had succeeded ill producing tho most remarkable oil lie had ever seen, and from that had obtained petrol on which lie. had driven a motorcar for over 300 miles. Both the oil and the petrol were of a very high grade, and we could produce them from British coal. PROPERTY SALES. Messrs. Rutherford, Robinson and Austin, under instructions from Mr. C. F. Thomas, will offer at auction at noon today, his property in St. Stephen's Avenue, Parneli, comprising a residence of nine rooms and abont one acre of land and five residential sections. j