COMMERCIAL.

New Zealand Herald, Volume LXII, Issue 19177, 17 November 1925, Page 7

COMMERCIAL.

SIDNEY WOOL SALES.

GOOD ALL-ROUND BIDDING.

BRISK GENERAL COMPETITION

Spirited bidding was experienced throughout the Sydney wool auctions of the week ended November 7. Franco, Germany, Belgium, Italy and Yorkshire were all excellent bidders. Japan gave the market good support, and strong competition was noticeable from local manufacturers. America was an operator in a limited number of lines, but inquiry from that quarter was not consistent. German operations, if anything, displayed the greatest increase in vigour, says the Sydney Morning Herald. Buyers on that account were particularly keen purchasers of fine fleece and skirtings. At mid-September reports indicated that turnover in the mills in Germany had brightened considerably, though the revival in business was then of too short duration to warrant entiro optimism in regard to the future. Evidently, how ever, the larger flow of orders Ho the manufacturing establishments has been maintained. Germany has also been buying woollens and semi-manufactures more freely in Yorkshire.

MOSGIEL WOOLLEN CO.

DIVIDEND OF 10 PER CENT.

(BY TELEGRAPH. —OWN CORRESPONDENT.-] DUNEDIN. Monday.

The annual report of the Mosgiel Woollen Company states that operations Cor the past year show results which the directors believe the shareholders will consider satisfactory. Trade during the year has been difficult owing to the high price of. wool at the last sales, and also to the fact that importations of woollen goods are still heavy. The directors recommend the payment of a further dividend of 4 per cent, and a bonus of 2 per cent., which, with the interim dividend of 4 per cent, paid in May, make 10 per cent, for the year. The profit and loss account, after writing off £4OOO for depreciation and adding £2OOO to the reserve, shows a balance of £13,573 8s 3d available for appropriation. After providing £5722 16s to meet the proposed dividend and bonus, there remains £7850 12s 3d to be carried forward. Following is a summary of the company's results for the last three years: 1923. 192t. 1925. Brought forward .. £2,957 £10.125 Net profit .. .. 21.313 13.693 10.108 Reserve .. .. 5.000 5.000 2 000 Dividend P.c ..11* Amount .. .. 9.150 9,533 9,533 Carried forward . £10,125 £9,230 £7,850 *A bonus of 10s a share was also declared from reserves, the amount being £ll 922 10s, to increase the paid-up value of shares from £3 10s to £4, making tho capital £95.380. THE MEAT MARKET. PRICES AT SMITHFIELD. The New Zealand Meat Producers' Board has received the following cablegram from its London Office dated November 13, advising Smithfield delivered prices at that date as follows: — New Zealand Wethers and Maidens.— Canterbury quality; Selected brands, 561b and under, 8d per lb; 571b to 641b, 7j}d; 651b to 721b, 7Jd. Other brands: 561b and under, 7jd ■ 571b to 641b, 7ijd; 651b to 721b, 7 Ad.' New Zealand Ewes.—64lb and under, s|d. New Zealand Lamb.—Canterbury qualitv: 361b and under, ll^d; 371b to 421b, 10d; 431b to 501b. 9£d; seconds, lOfd. Selected brands: 361b and under, ll£d; 371b to 421b, 9Jd. Other brands: First quality, 421b ahd under, seconds, 10,Ul. New Zealand Beef.—Ox fores, 4|d; hinds, sd. Argentine Chilled Beef.Ox fores, Sd; hinds, 7d. TAINTED BUTTER CARGO. THE KIA ORA SHIPMENT. [FROM OUR OWN CORRESPONDENT.] LONDON. Oct. 9. A most peculiar caso connected with the shipment of butter by tho Kia Ora, which arrived in London a ago, has not yet been definitely settled. Those directly interested seem to have an aversion to talking freely about the matter. The fact remains that a good deal of the butter which came by the Kia Ora is tainted with a certain smell. Discussion centres round tho origin of that smell. It appears that the vessel carried a cargo of oranges nine months ago, and it is maintained by a certain section of those interested that the taint has been derived from the oranges. Another school of opinion maintains that the taint has been derived from the European wood tiled for the butter boxes.

Several firms havo marie claims for their loss, and a survey has boon going on for some time. In the end there is likely to be a considerable call on the underwriters. Meanwhile, however, no pood is tains; done to the butter, which is being held in store. If it is tho wood that is responsible for the taint, the longer tho butter remains in store the worse it will become. Judging by the long delay in arriving at a decision, the surveyors are finding the problem a difficult one.