COMMERCIAL.

New Zealand Herald, Volume LXII, Issue 19209, 24 December 1925, Page 9

COMMERCIAL.

PROFITS 15 COTTON. DIVIDEND OF 15 PER CENT. LONDON. Des. 10. Mr. W. EL Coats, presiding at J. and P, Coats and Company's annual meeting, said that the year's sales had been largely affected by the changes m women's fashions, and the curtailment of the practice of home sewing. The turnover, however, was better than the previous year, notwithstanding keener competition. There was a profit of £4,054 JESO, and a dividend of 15 per cent, and a bonus of 2£ per cent would "be declared. Mr. Coats added that Australia's tariff on sewing cotton was causing the firm serious concern. BRITISH WHEAT MARKET. Australian and N.Z. Cable Association. (Seed. 5.5 p.m.) LONDON. Dec. 22. Wheat.—Cargoes are inactive, quotations being sixpence easier as a result of the lower American and Argentine figures and the lack of foreign information. Parcels have but a poor inquiry at from ninepence to a shilling decline. Liverpool futures: March lis Hid per cental; May, lis 6d; July, lis 3jd. AUSTRALIAN PRODUCE PRICES. Australian and N.2L Cable Association. ■Becd. 11 pmi.) SYDNEY, Doc. 23. Wheat-—The market is quiet ai as lid, ex trucks. Oats.—Tasmanian white giants, 5s 9d to 5s 10d; Algerian, 4s 7«L Onions.—£l3. ADELAIDE. Dec. 23. Wheat. —Growers lots., 5s XOjd. Oats. —-2 aSi SITES FOR FACTORIES, PURCHASES IN WELLINGTON. [37 TELBGRAPB.- —FRESH ASSOCtsTTC-N' ] WELLINGTON. Wednesday. The commissioner of Crown lands this G areji uear the gasworks ai. PewCneOne of 5j acres was sold at the upset price of £5350 to Mr. S. G. Nathan, as agent, and the second, ex over 5j acres, at the upset, price of £5600 to Mr. G A Troup, for the Standard Porcelain Companv. unci firstiOoci wiii be built on hotix AUSTRALIAN LAND COMPANY. DIYIDEND OF 15 PEP. CENT. fratai ors own coitaEspoycssr. ] LONDON. Not. 21. The annual meeting of the New Zealand and Australian Land Company was held in Edinburgh, Mr. R. A. Murray, Woo presided, said the profit for the year, ■-ifter charariac interest, amounted to forward, made the amount at credit of profit and loss account ££48,993. The directors had transferred £20,000 to contingency fund, and £250,000 to .reserve fniid.; ib'tsy r tits pajuisni oi a dividend of IS per cent.. less tas on the ordinary stock, and the carrying forward of the balance of £38,355..- These transfers brought up the contingency fund to £500,0X1. and the reserve fund to £300,100. 1 hese amounts were not too large for the nature "A the business ami the riks attaching to it. and it would be well still further to strengthen those funds. Within recent years they had had !aj draw :ipon reserves to pay a dividend on the ordinary stock at only a moderate which was wei] within tlte present markal value of the securities. On tae saie of their holding m ordinary shares arisen, which had bees carried to investment depreciation account. Lp to the end of the financial year they had disposed of 108,000 shares and most of the balance of their holding had since been sold. The chairman also stated that since the close of the accounts the company has disposed of 25.000 acres of its Hakateramea estate is New Zealand. This wbs the unr<?.r portion wbsre tb<®y w&rs much troubled with the rabbit pest. The remainder, extending to about 26,000 acres, is a compact property, which should Yield a fair retarn. A resolatioc sanctioning the proposed dividends -ocas carried, and on the motion of Mr. William Greenhill, the meeting re«olv«] to increase the directors"'fees to £.fcor<? AUSTRALIA'S SUGAR CROP. The director of sugar experiment stations in Queensland reported on December 1 that, if the estimates of the various sugar mills are realised this year Queensland should have produced about 3,750,000 tf- cs q f a ii'i —a record cr o p~—y ie Idm g 454 000 tons of raw sugar. In addition New South Wales will produce 32,000 tons of sasrar, and Victoria 3107 tons, n»aktns Australia's output 519,000 tons. The Government Statistician estimates the consuiizii)tion of raw fvi2n'.tir • per C3.pil<i. fit 1381b., or on a population basis of 5,000.'300. equal to 369,000 tons. The chairman of the Sugar Board estimates the yield at 515,000 tons, and that the surplus available for export will amount to at least 200,000 tens. PROPERTY SALES. SECTIONS AT OREW.A BEACH. Twer.ty-tiiree sections! in x subdivision at Orewa were sold at auction last evening by J. P., Robertson, Ltd. There «u a good attendance and the sections sold at prices ranging from £65 U £lO5. _ , Saaanel Vaile and toons, JjtcL, cnerorf a property of 1-t acres i) roods with a roar- j roomed house, on the Weiti River, about 2* Eii3.es from Silverdale Post OtSce. The property was boaght in by the mortgagee at j £725.

HAMILTON STOCK SALES,

The Farmers' Co-op. Auctioneering 1 Company, Limited, reports:—At our weekly stock* market in the Franktoo Yards on Tuesday we had a moderate yarding of cattle and ab««D a small entry of oiga. Prices wero all round easier than those reported at other late markets- Be«f; Good quality ighi nrime made £lO to £1.13 "2s 6ki: nisbed yoking £& 7s Gd to £9 la-"heavier mediEffl quality steers w>H to £lO 18b- fat cows, £!> 1.55. to #< 15b; radium. £6 to £8 10b : light cows and heifers. £"> to -£5 1S&; and ordinary. £j 12b to £4 16a. Sheen: (rood fat and forward two-tooth wethers. 355:. fat ewes, 19s T d to 2f!s • prime ewes. 2cs fed: prime bf lambs, 26s to 27s M. medium v«<hta. 22* 3d to 23a 3d : small store lambs. Ka M; lew conditioned small-framed store ewe*. 3s Pigs - Beet baconera. £3 10s to £3 12a: medians.'. £3 3b to £3 8a; good porkers and : . gv., haconers. l&a to £3 ■ medium porkers £2 8a" to <_£2 15a: .« mall porkers. 30a wea.ner3 a&d small s;ips, 12s to Ifrs. The Ifew Zealand Loan and Mercantile Affeccy Comijacy Limited, reports:—At the Hamilton sale on Tuesdthere wis a smaller yarding of beef With practically ro store cattle. A fair entry cf sheen crime forward. Biddino was dull for all cias.-e* and "rices fewer ahew being hard to "gait. " We ,fqnoteLight fat "steers, £7 lis to £7 12s; good fat cows, £6 17a to £8 la: lighter cows. £C> Is to £8 J-to: fat "heifeia. £5 9» to £5 Sa: cows is forWard condition. £3 17s to £4 31s: fat twotooth withers. £1 -■*s 6d to £1 4s ; fat and forward lambs. I7s 3d to 17a 9d: store l»ns'bf> 7s 9H to lie 8d: f.ta. ewes m low condition with laabi. 9* 4d, all coasted. A vrrv small yarding of both fat and store nig* lato rates. Medium baeonera. t't 2s M»; no large hoeoners were yarded- porkers, £2 "s to £2 lis; store pigs, good, £1 is Sd to. £1 list weaaera. Its to £ 1

NATIONAL BANK OF N.Z.

INTERIM DIVIDEND DECLARED. The directors of the National Bank of New Zealand have declared an interim half-yearly dividend of 12 per cent. The dividend will be payable to shareholders en Jansary 4 DAIRY PRODUCE MARKET. REPORT FROM LONDON. fBZ rELSGILAPH.. —OWN' CO*EBSK)HBEST.] HAMILTON. Wednesday. The New Zealand Dairy Company, Limited., Hamilton, has received the following cablegram from its London office: "Butter.—Anchor, 1725; unsalted, 1745; Danish, 168s f.o.h. The market is still somewhat disorganised, Reduced retail prices, with good consumption daring Christmas, should clear retailers* stocks, bringing better trade early in January, hut w« do not anticipate any improvement in prices. The German market has a quiet tendency at the lower prices. Financial troubles are making trade difficult. There have been several failures. The American market is steady. Retail prices are.—New Zealand. Is 3d; Danish, is 10d. M Cheese.—New Zealand, 104s to 106s, ex Tnrakiaa. The market is quiet, We expect fair trade after Christmas. Consumption is reported to be fairly good." PAPER FROM CANADA. SHIPMENTS TO AUSTRALIA A communication cf the Department of the Interior at Ottawa, Canada, states that orders for 20,000 tons of newsprint have been received from Australia by British Columbia paper mills, these having been diverted to Canada owing to the strike of British seamen. This tew business is furthermore the result of the coming into effect cf the Canadian Australian trade treaty, which gives Canada free access to the Australian market for newspnnt. The new steamship Kapoaga, making her maiden tnp to Montreal, has also loaded 1100 tens of Canadian paper for Sydney. This paper was shipped by three or four different mills in Quebec.