MOUNT LYELL MINING CO.

New Zealand Herald, Volume LXIV, Issue 19798, 19 November 1927, Page 9

MOUNT LYELL MINING CO.

PROFIT OF £{73,298 DECLARED. INCREASE OF CAPITAL PROPOSED Cable advice was "received in Auckland yesterday that the annual report of the Mount Lyell Mining and. Railway Company for the year ended September shows the net profits to be £173,298. The cablegram also states that the directors recommend an increase of the authorised capital to £2,500,000. The company's net profits - in 1924-25 were £174,606 and in 1925-26 £171,861. A dividend of 11£ per cent, was paid in each year. The present authorised capital is £1,300,000 in £1 shares, of which 1,289,195 shares fiave been issued and fully paid. KAURI TIMBER COMPANY. INTERIM DIVIDEND. The Auckland office of the Kauri Timber Co., Ltd., has received advice from the head office, Melbourne, that the board of directors announce that, subject to audit, they have resolved to recommend that a dividend at the rate of 6 per cent, per annum be paid for the half-year ended August 31, 1927. ■ MASTERTON HOSIERY MILLS. OPERATIONS TO BE RESUMED. [BY TELEGRAPH. —OWN CORRESPONDENT.] MASTERTON, Friday. The resumption of operations by the Masteiton Spinning and Hosiery Mills Co., Ltd., whose premises were destroyed by fire about five months ago, is definitely assured, a statement to this effect being made yesterday by the secretary-manager, Mr. G. G. Grove. The minimum amount of capital required to re-establish the industry is now in hand, and it is anticipated that the mill will be in operation again within three months. , PRODUCE IN DUNEDIN. OAT MARKET LIFELESS. [BY TELEGRAPH. OWN CORRESPONDENT.] DUNEDIN. Friday. Not much interest is being shown in the milling wheat market, and as a matter of fact there are practically no offerings. With the decreased demand for flour being experienced by millers, they have not the same incentive to como on the market for wheat and, anyway, they apparently have sufficient stocks to see them through to the next harvest. Any small lots that may reach the market are being placed with poultrykeepers and they are paying 6s 6d a bushel, sacks extra, ex truck, Dunedin. The nominal quotation for Tuscan milling wheat is 6s on trucks, sacks extra, country sid- : ings. The oat market continues in a lifeless condition. Stocks are light, but thero is no demand for the lines on offer. The current quotation is 3s 5d f.o.b. for A grade and 3s 2d for B grade. The quotation to farmers for any small lot 3 is 2s 6d, sacks extra, country sidings for A grade and 2s 3d for £ grade. Consignments of chaff continue on the light" side, but they are quite sufficient to meet .the local, demand. The current quotation is £5 to £5 5s a ton, sacks extra, ex truck. The lateness of the new potato season continues to affect the price of old potatoes, which are scarce and valuable Usually at. this time of the year old potatoes are not in much demand, as the new crop is available. The old potato market continues firm at £9 to £lO a ton ex truck, sacks in. CANTERBURY MARKETS. PRICE OF POTATOES HOLDING. [BY TELEGRAPH.—PRESS ASSOCIATION.] CHRISTCHURCH, Friday. The absorbing item of interest over the holidays was the meteoric rise in the price of potatoes. A few small shipments have gone North, but it is questionable if they will be sufficient to tide over tho shortage in Auckland until thG new crop 'comes in. The country is being raked for potatoes now, all the heavy holders apparently having vanished. If there had been fewer " paper " potatoes and less feverish consigning from this end the great bulk of the potatoes would have been sold at a price half-way. between the bedrock of 60s. a ton of six weeks ago and the 130s of to-day, for the latter is the price that farmers can get on trucks. It is suggested that the extra supplies now .going North Will shorten local supplies sufficiently to keep up the values here for at least another month. There is a tendency for forward wheat values to ease. Six shillings, f.0.b., is still quoted, but to effect much business this figure has to be slightly shaded off. The Home market for peas has weakened slightly. There is no change in the value or inquiry for general seeds, and recent quotations hold in this respect. The cocksfoot crop on the peninsula has improved as a result of the recent rains. MELBOURNE PRODUCE MARKETS. A. and N.Z. MELBOURNE, Nov. 18. Tho following are to-day's quotations on tho Melbourne produce markets:— Wheat. —There is little business at 5s 6d; New crop, January-February, is quoted nominally at 5s 6d. . Flour.—£l3 10s to £l3 15s. Bran.—£B. Pollard.—£B ss. Oats.—4s 8d to 4s lOd. Barley.—English, 4s 6d to 4s 9d. Potatoes.—£4; new crop, £l2. Onions.—£2 10s. STOCK SALES. MATAMATA. Tho Farmers' Auctioneering Company lield its regular stock sale at Matamata on Wednesday, when there was a good yarding and practically all stock was cleared. Prices were:—Heavy prime fat cows, £U 12a to £7 Is; lighter prime cows, £5 10a to £6 3s; forward-conditioned cows, £4 3a to £5 ss; stores, £2 17s Gd to £4; boners, £1 to £1 15s; yearling Jersey heifers, £0 5s to £6 IGs; others. £4 10s to £5 10s; 2-year-old heifers, mixed, £4 10s; best light bulls, 9gna to 12gns; others up to 9gns; small yearlings, £3 to £5 ss; dry cows, to £10; late oalvere; £4 10s to £6 10s. Pisa sold well at late rates. 1 v FEILDING. [BY TELEGRAPH. —PRESS ASSOCIATION FEILDING, Friday At the Feilding stock sale to-day a medium yarding of all classes of sheep and cattle met with a good demand. Prices were on a par with late rates. Fat shorn ewes made 17s Gd to 20s 2d; shorn maiden fat ewes, '23s 3d to 275; woolly fat ewes, 31s 6d to 345; shorn fat wethers, 21s to 30s; stiorn fat hoggets, 24s Gd; woolly hoggets, to 325; woolly wether hoggets, 30a 8d: 2-tooth shorn wethers, 22s 4d to 25s Id; black face hoggets, 23s lid to 28a Id; ewe hoggets, w6olly, to 37s 3d; black face 2-tooth ewes and lambs, poor,- '3ss. Fat cows Kiade £5 Is to £5 17s Gd; light fat heifers, £3 17s 6d to it 6s; fat bullocks, to-£7 12s Gd: vwalers to 30s; Polled Angus steers. £3 10s; Polled Angus heifers, £4 Is; yearling Shorthorn heifers. £2 10s: forward cows, £2 17s Gd to £4 3s Gd; springing Jersey heifers. £4 15s to £l2: springing cows, £4 to £9 12s 6d; Shorthorn cows, in milk. £3 10* to £i Be; Jersey cow# m milk, to <O.