COMMERCIAL.

New Zealand Herald, Volume LXII, Issue 19125, 17 September 1925, Page 7

COMMERCIAL.

MILNE AND CHOYCE, LTD. DIVIDEND OF 8 PER CENT. Tho annual report by the directors of Messrs. Milne and C'hoyce, Ltd., to be presented at the general, meeting of (shareholders on September 30, states that the profit for the year ended' July 31 was £24,273 6s 2d, to which is added the balance from last year, £27,669 12s 6d, making £51,842 18s Bd. The directors recommend the payment of a dividend on alt classes of shares and debenture stock at the rate of 8 per cent, for the year, of which one-half was paid on April 10, leaving £IO,OOO for present distribution. The balance to be carried to the new account will be £31,842 18s Bd. From this amount the directors recoimmend that a bonus of £3OOO be granted the staff. The report continues that the business for the past year shows a satisfactory increase. Stocks have been carefully taken and-proviion made for bad debts and income tax. The retiring directors are Sir George Elliot and Mr. Charles Rhodes, who offer themselves for re-election. The company's capital remains at £250,000, comprising ordinary and preference shares £51,250 and debenture stock £198,750. There are also "B" debentures £22,000, while other liabilities are shown at, £140,073 18s 6d, as against £141,594 last year. Stocks are shown at £154,015 (£155,929 last year); land r and buildings, plant and fixtures, £264,128 (£263,232); cash, etc., £4420 (£4084); debtors, £31,354 (£27,917); the total assets being £453,917 (£451,164). Profit and loss account shows gross profits £141,941, as against £134,404 ftst year, while expenses under all headings total £117,668, as against £110,143, leaving a net profit of £24.273, against £24,261. Tho company's results and appropriations for the last three years have been as follow: , 1922-23. 1923-24. 1924-25. Brought forward £17.882 £ 23,308 £ 27,569 Net profit ... 23,276 24.261 24,273 T** '' P.O. .. 8 8 ■ 8 Amount: . capital . 4,100 4.100 4.100 Debenture etk. 13,750 15,900 15,900 Carried forward £23.308 £27,569 £81,843 AUCKLAND COMPANIES. FOUR NEW REGISTRATIONS. " r . . ! ■ !; • ' • • Three companies were registered in Auckland yesterday. Following are details : PRIVATE. The King Cleaner Company, Limited, patent rights holders for New Zealand of the King cleaner, and manufacturers. Capital, £2OOO. Subscribers; George M. C. H. Smith, 1010 shares; Frederick Arthur Pyke, 640; Ernest Hewstone, 200; and Ralf. Vernon Menick Wylde Brown, 150. ; ' . .. McSherry and Smith, Limited, builders, plasterers and decorators and timber merchants. Capital, £SOO. Subscribers: Frederick George McSherry, 249 shares; Vivian George Smith, 249_j Clifton Edward Clarke, 2. The Waikato Mercantile Agency, Limited, trade _assignees, general mercantile agents, attorneys and accountants. Capital, £IOO. Subscribers: William Harold Williams, 65 shares; Athol Eady Gibbons, 34; Florence V. R. W. Williams, 1. • ' \ >1 PUBLIC. Butchers, Limited, drapers and general warehousemen. Capital, £15,000. Subscribers : George Lionel Goodwin, Rnby Louisa Ray, Leslie Arthur Turner, George Kynock Morrison, Ernest George Percival McDuff, Harry George Levitt and Helen Hastie Dutton, 2 shares each. - BUTTER AND WOOL , . LONDON MARKET VALUES. Dalgety and Company, Limited, report having received the following cablegram from their London house: — Butter.—Since our last report, prices are higher by 2s (now 204sJ. The total imports of butter into the United Kingdom for August were 423,000 cwt, against 468,000 cwt for the corresponding period of last year. , , , . . Wool Sales.—The attendance Of buyers was large and there was a good selection. Thero was a good demand from tho Continent, but the Home trade was quiet. Prices, compared with those at the last sales, were -.—Merinos, greasy, firm but unchanged. Merinos, scoured, firm but unchanged. Crossbred wools, fine quality greasy, a change nf any is in the buyers favour. Halfbred wools, a change if any is in buyers' favour. Crossbred wools, medium and coarse quality, greasy, very firm. Slipe, scoured wools, crossbred, unchanged. MELBOURNE WOOL SALES. Australian and N.Z. Cable Association. (Reed. 5.5 pjn.) MELBOURNE. Sept. 16. At the wool sales there was good competition. Best combing Merinos reached 26£ d. Other combing wools brought 25£ d; Comebacks sold to 23Jd. LONDON WHEAT MARKET, Australian and N.Z. Cable Association. (Eecd. 9.30 p.m.) LONDON. Sept. 15. Wheat cargoes are dull, and are nominally unchanged, but there is a weak undertone. The Russians are pressing sales, and prices are down sixpence. Parcels aro quiet and easier. Liverpool futures: October, 10s BJd per cental; December, 10s 4d; March, 10s 2d. —: —:—' , CHICAGO WHEAT MARKET. A. and N.Z. NEW YORK. Sept. 15. Wheat.—September, 1 dollar 50 3-8 cents per bushel; December, 1 dollar 60 3-8 cents; May, 1 dollar 53 5-8 cents. STOCK SALES* AUCKLAND. a— The New Zealand Loan and Mercantile Agency Company, Limited. reportsW& held sales during the past week at Westfield. Warkworth and Papakura. All classes of cattlo selling at late Quotations. We quote:—Dairy cows and heifers, close to profit, best £lO to £ls ss: others.* £6 to £9 15s; backward springers, best £7 5s to £9 10s, others £5 to £7; other cqws and beifers, £2 10s to £4 15s: bulls. £2 10» to £7 10s; empty cows and heiters. £2 10s to £4 15s- yearling to 18-month heifers, best £2 15s to £5, others £1 5s to £2 10s; yearling to 18-months -steers, £3 15s to £5 Ss: two to 21-year steers. £5 10s to £6 10a: three to 3i-year steers, £6 12s 6d to £7 15s; four to 41-year steers, £7 17a 6d .to £8 15s: grown steers in forward condition, £9 to £9 17s 6d. At Pukekohe on Monday we held a special horse sale, when fully the advertised numbers came forward. The useful medium farm sorts sold readily. Heavy draughts and other sorts were dull of sale. Heavy draughts made £35 to £45: medium draughts, £ 20 to £ 33 10s; light har-, ness sorts and hacks. £lO to £18; ponies, £4 to £9. At Westfield fat stock market yeaterdav beef was penned in average numbers. values being firm at late Quotations. Extra choice ox sold to £2 2s per 1001b; choice and prime Ox. 37s to 41s: ordinary and plain ox 30s to 365: prime young cow and heifer beef. 34s to SSe ordinary cow beef. 28s to 335; rough? beef. 22s to 275: no extra heavy prime steers were penned: heavy prime steers, £l6 to £lB 2a 6d; lighter prime steers, £l4 IDs to £ls 17s 6d; light prime steers. £l2 10s to £l4 7s 6d; unfinished and small, £9 to £l2 7s 6d; extra heavy prime young cows and heifers, £l2 5e to £l3 17s 6d; heavy prime young cows and heifers. £lO to £l2( 2s 6d: lighter. »£8 to £9 17s 6d: liiht cows. £5 10s to £7 17s 6d; bulls, £3 to £6; other cows, £2 10s to £5 7s 6d. Sheep were yarded in average numbers, and improved in values on last week's sale. Extra heavy prime wethers made £2 9s to £2 12s: hea.vy prime wethers. £2 6s 9d to £2 8s 9d; medium prime wethers, £2 3s to £2 6s 6d; light prime wethers. £2 to £2 2s 9d: Bmall and unfinished : wethers. £1 16s to £1 19s 9d: heavy prime ewes, £1 18s to £2 Is 3d; medium and light prime ewes. £1 15s to £1 17s 9d: heavy prime hoggets. £1 15s to £1 18s; medium light prime hoggets. £1 12s to £1 14s 9d: email and unfinished hoggets, £1 6s to £ls lis 9. Spring lambs were penned in increased numbers and- sold

readily at, late values. Heavy prime made £1 15s to £1 18s 9d: medium prime. £1 12s 6d to £1 14s 9d; light prime, £1 8s to £1 12s. Lambs from Mr. G. W. Keals, Papakura. realised £1 18s 9d: fr<im Mr. C. W. Stephens. Clevedon. £1 17*r; Mr. Fred. Stephens, Clevedon, £1 15s 9d- and Mr. Jno. Drendon. Manurewa, £ 1,14s 3d. Pigs were penned in average numbers ad values were fully sustained at late quotations. Choppers sold from £5 to £5 17s 6d; heavy and medium baconers, from £4 18s to £ 5 3s: light baconers and heavy porkers, from £4 8s to £4 16s: medium poi:kers and bght porkers, from £3 10s to £4 4s: small and unfinished porkers. £2 3s to £2 12s. Store pigs were penned in average numbers and sold under keen competition at late quotations. Large stores made £ I 16s to £3 8s; slips. £1 8s to £1 15s: ireaners, 18s to £1 10s. Calves were penned in large numbers. values remaining firm at late Quotations. Runners made £4 4ii to £ls: heavy vealers, £3 10s to £4 2s; ni&dium, £2 18s to £3 8s; light. £2 4s to £2 16s; smaller, £1 12s to £2 28: small and fresh dropped. 3s to £1 10s; rough calves. His to £1 ss.

Dalgety and Company. Lireited. report S3 follows on the estfield saie yesterday:— Beef: An average yarding, p;rices remaining firm at iato rates. Extra choice ox made £2 2s p6r 1001b; choice and prime, £1 17a to £1 19s; other. £1 12s to £1 16s: prime young cow and heifer beef. £1 14s to £ 1 18s: medium quality, £1 10s to £1 13s; other. £.l 4s to £1 9s. 'A line of 40 good Hereford cows and heifers from South averaged £lO lis. Sheep were penned in moderate numbers, selling at late rates. Extra heavy prime wethers made £2 6s to _£2 10s; heavy prime, £2 3s to £2l Ssi: lignt, £2 to £2 2s'; unfinished and small, £1 14s 6a to £i 19s: no ewes were penned. Spring lambs sold readily under kesn competition, best making £1 16s to £1 USs 6d: medium, £1 12s to £1 15s: others, £l, 8s to £1 113. Pigs: A fair yarding sold at late rates. Heavy baconers made £4 15s to £5 Is: light and medium, £4 3s to £4 lis: heavy porkers, £3 12s to £4 Is; light-and medium, £2 15s to £3 10s. -Calves sold at last week's quotations. lETeavy vealers made £4 to £5 3s: medium. £3 to £3 18s: light. £2 6s to £2 18s: others. £1 5s to £2 ss: small. 10s to £1 2s: fresh d?opped. 3s to Bs. 1

Alfred Buckland and Sons, Ltd., report.. During the week we held saltis at Pukekohe, Westfield, Kumeu, Turua, Pckeno and Runoiman. There were full yardings at eacn centre and a good demand for all classes at late quotations. Grown stesrs ill forward condition made £9 5s to £9; 15s; best Kmr-yeai-old steers, £8 5s to £9; three to four-year-old steers, £7 to £8 tis 6d; two to three;year-old steers, £5 15a £6 17s 6d; yearlings to two-year-old steers, £4 to £& 12s 6d; empty young cows, £4 to . £5 ss; store , oows, £2 to £3 17s &!;• yearling to two-year-old heifers, £3 to £4 15b; fat steers, £lO 10s to £ls ljs 6ci: fat cows and heifers, £6 10s to £ls 12s 6d; rough killable cows, £4 to £6 ss; test d(;iry cows and heifers, £lO 10s to £ls 10s e*tra to £2O; second grade cows, £V to £10; s ßed and inferior, £3 to £6 15s; heavy bulls, £7 to £8 15s; young bulls, £5 to £lO 10s. There was an average supp.iy of pigs at Pukekohe and prices were in advance of those ruling at Westfield tho day previous. Yesterday at our weekly Wejtfield fat stock market our beef pens contained 464 head, comprising 218 steers, 238 caws and heifers, and 8 bulls. There was a steady demand throughout with values firm at last week's quotations. Extra choice, ox sold at £2 2s per 1001b; choice and prime ox, £1 193 to £2 Is; ordinary plain ox, £1 15s to £L 18s; prime young cow and heifer beef, £1 15s to £1 18s; ordinary cow beef, £1 10s to £ll4s; rough beef, £1 2s to £1 7s; extra heavy prime steers ranged :in price from £lB to £l9 12s 6d; no hea'ry prime steers penned; lighter prime steers, £l4 10s to £l7 17a 6d; light prime steers, £l2 10s to £l4 17s 6d; unfinished and small, £8 15s to £l2 ss; extra heavy prime young cows and heifers, £li 10s tft £l4 lis; heavy prime young cows and heifers, £lO 5b to £l2 7s 6d; lighter. £8 to £lO 2s 6d; other killable cows, £5 10s to £7 15s; old and cull cowb, £1 10s to £4 15s; bulls, £4 5s to £8 10s. A truck of extra prime stee;:s from Mr. R. H. Bailey's, Tirau property, averaged £ 19. The Bheep pens were modelately filled and values realised were on a par with last week's sale. Extra heavy prime wethers made £2 8s 6d to £2 10s; heavy prime wethers, £2 6s to £2 8s; medium to heavy prime wethers, £2 3s 6d to £2 5a 9d; light prime wethers. £2 la t o£Si 3s; unfinished wethers, £1 16s to £2; medium prime shprp wethers, £1 16s to a 1 17s; medium prime ewes, £1 13s to £1 16s; lighter and plainer ewes, £1 7s .to JGI 12b 6d (793 sold). Two spring lambs from Mr. F. Stephens, Clevedon, made £3,15 a 6d. Calves "were penned in large numbers. Competition was keen for all small good quality vealers with runners and heavy veulers showing a decline in values. Runners made from £4 8s to £5 13s; medium vea'iers, £2 14s to £3 6s; light vealers, £ll7s to £2 lis; Bmall and fresh-dropped, 3s to £1 15s (302 eold).i A. heavy yarding of pigs came fo.>ard. Bidding was steady throughout, with values fully equal to late rates.. Baconers were again in good demand. N p extra heavy choppers were penned. Heavy choppers made' £5 to £6; rough and light, £1 10s to £4; extra heavy choice, bitconers, up to ' £5 7s; heavy baconers, £4" 12s to £5 Is; s light and medium, £4 to £4 10s; heavy porkers. £3 15s to £4 Is; litfht and medium £3 2s to £3 12s; small and unfinished, £2 to £2 15s; stores also .sold readily, best conditioned and good framed making up to £2 4s; other stores, £1 15s 1o £2; sups, £1 4s to £1 8s; weaners, 18s to £1 6s for best; small and weedy, 10a to 15S; suokers, 5s to 85..(699 sold). , HAMILTON;. '• The New Zealand Loan and Mercantile Agency Company, Ltd.. ißports :—At the Hamilton sale on Tuesday "there was a short entry of beef which again uold under keen competition, and last week's rates were fully maintained. A small offering of mixed store-oattle .met with only a moderate demand. Fat sheep were peiined in average numbers and sold at recent;, quotations. We quote:—Medium to light lat steers, £l4 2s 6d to- £ls 15s: fat cons, £8 10s to £9 17s 6d; fat heifers, £7-153 to £8 2s; young good quality store cbws, £3 17s to £4 3s 6d: yearling Jersey heifers, £3 10s to £4 6s; prime fat ewes, tl'2 3s to £2 9s; fat and forward hoggets, £1 lis. A large yarding of fat and store pigs came forward. Fat pigs showed a slight improvement; on last week's rates, selling np to £5 4s, while eitores were somewhat better, Prime heavy baconers, £4 16s to £5 4s; medium baconers. £4 2b to £4 12s: light baconers and heavy porkers. £3 4s to £3 17s: porkers, £2 7s to £2 19s; ;good stores, £1 12s to £2: slips and storeji. £1 4s to £1 Ss; good weaners, 18s to £1 Is; smaller weaners, 10s to 15s. ji

The Farmers' Co-operative Auctioneering Company, Ltd., reports.—On Tuesday in the Frankton yards there wiis a small entry of beef, chiefly cows and heifers, which reached slightly advanced prices. A fair yarding of fat and store stieep was offered and was cleared • at prices barely reaching those of late markets. An ettra heavy yarding of fat and store pigs was submitted, fats being firm at advanced . rates, while stores were again easier I Beef:—Good quality heavy fat stores, £l7 10s to £l7 18s; lighter sold to £ls 12s 6d; prime heavy fat* cows, £l4 Is to £l4 lis; good quality prime, £lO 12s 6d to £3,2 8s; medium weights cows and heifers. .£8 7s to £9 2s 6d; light, £6 10s to £7 2s 6d; unfinished, £5 to £5 ss. Sheep: Prime fat Aethers, £2 lis: light to medium. £2 4s; !>rime toavy fat ewes, 45s 6d; others, 375; prime fat hoggets, 38s; medium fat hargets, 30s; best mixed sex woolly hoggets, [in store condition, 325; medium, 28s Id; iimall. 20s. Pigs: Heavy baconers, £4 15s to; £5 Ss; medium, £3 17s 6d to £4 ss; light bisconers and good porkers, £3 5s to £3 10s; small to medium, £2 10s to £2 15s: unfinished. £2 2s to £2 ss; heavy Choppers, £i> 5s to £5 19s; small, £2 103 to £3 8s; slipiH and small porkers; 30s to 365; others,* 25s to 28s; weaners, 16s to 225; small,: lis to 14s. ' ADDINGTOH. [BX TELEGRAPH. —PRESS ASSOCIATION.] CBIMSTCHUBCH, Wednesday. Entries were generally .smaller at Addington to-day, fat cattle being the exception. Tho store sheep entry was one of the smallest for years, due to the difficulties of travel on" account of the wet weather. Mixed threequarter-bred hoggets made to 355. A few pens of spring lambs were in, and anything of size Bold well, averaging from 30s to 41s. ■'» ' Fat Shoep.—Eight full races wore forward, practically all weth«irs. The quality was indifferent. The markot wub .from pax to Is a head better than last week, closing firmly. Extra primp wethers, to 55s 6d"; prime wethers, '46« 6d to 51s; medium wethers, 42s 6d'to 465; light wethers, 395.t0 425; extra prime ewes, 48s to 53s 4d; prime ewes, 38s 6d to 435; medium ewes, 34s to 388; light ewee. 2Ss to 335; prime hoggets, 36s to. 43a. Fat Cattle.—A total of 480 were penned, including 30 from the North Island, several trucks from South Otago, and a line each from Southern Marlborotigh and South Canterbury. The sale' was practically on all fours, with last week, for good local and Southern cattle, but easier for shipped lines by up to 20s & head. Extra prime medium weight local beef made to 55s per 1001b.; prime weight, 49s 6d to 52s 6d; prime heavy weight, 47s to 51s; medium quality, 43s to 46s ; light, 39s to-425; and rough and inferior oow beef down to 27s 6d. The best of the local cattle sold at £26 17s 6d; the South Otago at £25 2s 6d, and the North Island at £24. Extra prime heavy steers, £24 10s to £26 17s 6d; prime heavy, others. £2O to £23 10s; medium weight, prime, £l7 to £l9 10s; light steers. £l4 to £l6 10a; rough steers. £ll to £l3 10s; extra prime heifers, £7,6 to .£l9 2s 6d; prime, £l3 to £ls ss; medium, £9 to £l2 10s; extra prime cows, to /'IB 2s 6d; prime cows, £l2 10s to £l4 J ss; ordinary, £9 to ,£ll 15s; inferior, £5 to £B 10s. Vealerß.—-There was a small yarding and an advance in values. Runners made to £9, and vealers to £7 6s. Store Cattle.—-The yarding wae very small, and tharej were tic quotable lines. Three?year steers made to £9 10s. Dairy Cattle.—Good conditioned cows near the drop sold well, averaging: £8 to £l2 15s: sprineinK hsifers, £5 to £9. . Fat Pigs.—There, was a small, entry, and keener sale, especially for porkers. Choppers, £4 to £9; light baconers, £5 to £6; heavy baconers, £6 ' 10s to i! 7 10a j extra heavy baconers. to £9 (average price per lb, 9}d to 10Jd). Light porkers. £2 14s to £3 10a'; heavy norkers, £3 15s to £4 (average price per lb, lid to 12d). Store Pigs.—A total of £l2O were entered. Weaners and email stores were easier, but larger stores sold woll. Weaners, 15s to 20s; better sorts, to 265; stores, 24# to 565, Sows in pig, £7 to £B,