ROTOITI TIMBER CO.

New Zealand Herald, Volume LXV, Issue 20088, 27 October 1928, Page 11

ROTOITI TIMBER CO.

LOSS ON YEAR'S WORKING.

PREFERENCE DIVIDEND DECLARED A report has been issued by (.lie directors of the Rotoiti Timber Company for the period of 15 months ended June 30. It states tliat the timber industry has continued to suffer a serious depression, and the relief anticipated in the directors' last report has unfortunately not yel eventuated. There are distinct signs, however, that the depression is passing, and the outlook is much brighter than it was a few months 'ago. Substantial benefit is anticipated from the proposed scheme of classification and grading of timber. The company has secured its fair share of the business offering, and sales have been maintained. The installation of the planing plant at Ngongotaha has contributed to tnis result, and the use of the plant is also reflected in the increased value of stock on hand, which comprises a larger proportion of dressed and planed timber than in other years. The plant has been kept in a high stale of efficiency, and has given complete satisfaction. The operations of the company for the period have resulted in a loss of £419 3s 3d. It may be possible to recover this loss from stock sales through the scheme of classification now being considered. The loss has been carried to appropriation account, which now stands at £582 7s sd. The directors recommend allocation of this amount as follows: —Dividend at 8 per cent, on the capital paid up on 3659 preference shares, £lB2 10s 8d; and carry forward the balance of £399 36s 9d.

Owing to his having accepted an appointment, necessitating residence in Masterton, Mr. Charles M. Bowden lias resigned the secretaryship of the company, and Mr. F. H. Bass lias been appointed secretary in his stead. Messrs. Gerald Fitzgerald and C. G. White, directors. retire and offer themselves for reelection.

The report for the 12 months ended March 31. 1927, disclosed a loss of £160; preliminary and survey expenses, £IOBO, were written off, and £2OO placed in reserve for income tax, leaving a credit balance of £llOl lis Id. This has been reduced by the loss for the 15 months' period; and the proposed preference dividend to £4OO. It was proposed last year to issue 10,800 preference shares. The report indicates that 3659 shares have been subscribed.

STOCK SALES. HURDEN PEDIGREE JERSEYS. GOOD PRICES IN WAIKATO. [BY TELEGRAPH. —OWN' CORRESPONDENT.] HAMILTON. Friday. There was a good attendance at the third annual sale of iiurdeu pedigree Jersey stock, ottered on benalf ol Mr. George Cowling, of ALanaia, Taranaki, at the Cluudelands saleyards to-day. Tile auctioneers were the farmers' Co-operative Auctioneering Company, Ltd., and Newton King, Ltd., Hawera. Thirty-six cows and heifers were sold at good rates, the heifers bringing high prices. The top price of the sale was realised for the cow Cowling's Maid, which was bought by Mr. J. Ballard, of Gordomon, for 39gns. The top price for heifers, 38{jns., was paid by Mr. A. M. Hickson, of Pongakawa. The following are the details of the other sales of Jersey pedigree cows:—Fury's Twylish Maid, Signs., Mr. J. Riley, Matangi; Fury's Starfish, 23gns., Mr. E. R. Wintour, Ruakiwi, llurden Graceful, 2'2giiß„ Mr. 11. Peoples, Drury; Fury's Lady Viola, 21gns., Mr. W. F. Roes, Wellington: Maid's Noble Pet, 21gns., Mr. F. L. Johnstone, Te Awamutu; Princess Milroy, 21gns., Mr. R. Liinmer, Te Kowliai. Sales of heifers were:—Hurden Cerimn, 35gns., Mi. H. Peoples, Drury; Hurden F. Lorilir.e, 32gns.. Mr. A. M. Hickson; Hurden Caneless, tiOgns., Mr. A. M. Hickson; Hurden Chiming Bells, 30alis., Mr. H. 0. Vaile, Ncwstead: Hurden Cyre, 27gns., Mr. D. M. Hickson; Hurden New Issue, 27gns., Mr. J. Malcolm. Te Rapa; Hurden Edas, 27gns,, Hurden Nonette, 2-lgns., Mr. A. M. Hickson; Hurden Empress. 2-lgns., Mr. H. O. Vnile; Hurden Cissy, 23gns.. Mr. H. Peoples. FAT CATTLE IN DEMAND. Tho Farmers' Co-operative Auctioneering Company, Ltd., reports having held its fortnightly stock sale in the Claudelands saleyards on Thursday, where it had a full entry of fat and store cattle, and a few pens of fat sheep. Fat cattle sold at firniej rates than those reached at other late previous sales. Three pens of choice prime ox beef sold on account of Mr. T. R. Drunirnond, of Tamahere. realised from £l7. to £lB. Quotations Cattle: Medium-weight prime heifers, £lO 2s Gd to £ll 12s Gd; iighter, £9 to £9 10s; pood quality prime heavy young cows, to £'ls ss; medium fat cows, £lO 7s Gd to £ll 10s; light and unfinished cows, £8 17s fid to £9 ss; plain cows, JCG to £7 10s; boners. £1 to £5 10s: young cows with good vealors at foot, £7 10s to £8 2s Gd; vealers, £2 to £2 10s; well-grown 15-months Jersey and cross heifers, £5 15s to £6 2s Gd; small, £3 10s <o £4 15s; heavy bulls, potters, £9 10s (o £ll ss. Sheep: Prime fat ewes, in wool, £2: medium-quality' fat ewes. 30s 9d fo 31s; light prime hoggets, 375. TE IvUITI AND MAT AM AT A. Dalgety and Company, Ltd., Te Jyuiti, report having: held their usual fcrnightly sale at Te Kuiti on Wednesday. A good attendance of buyers was present from all parts of the King Country. There was a small jarding of sheep and a good yarding of cattle. There was littlo or no change in values and a satisfactory sale resulted. Prices were:—Sheep: Fat shorn ewes. 2Gs. Cattle: Fat cows, £9 to £11; 3-year Shorthorn steers in store condition. £8 Gs to £8 15s; Holstcin and Jersey-cros3 3-year steers, £(> 10s to £7 Es; store cows, £4 4s to £G 12s Gd; yearling miied colour heifers, £4 9s; best dairy cows, £lO to £ll 10s; dairy heifers, close to profit, £9 to £lO ss; backward. £G 15s to £7 10s. The company also yarded 120 Polled Angus cattle on account of the estate of the late A. H. Wrightson. These sold readily at the following prices: -—btecrs to £8 lfis, £7 Gs. £5 7s: cows with calves at foot, to £9; 3-year heifers, £7 9s; 2-year heifers, £6 12s; yearling heifers, £5 Bs. On account of G. and R. Coat.es, Matakohe, the company offered one 3-year-old purebred Polled Angus bull, which realised 20gns and seven 2-year purebred Hereford bulls were sold at an average of 171gns.

Dulgely and Company, Ltd., hold a stock sale at Matarnata 011 Thursday, postponed from Wednesday. Tliero was a fair yarding and prices were:—Fat cows, £lO 12s Gd to £l3; others, £S to .£0 15s; stole cows, £4 15s to £5 2s Gd: bulls, 2-year, £l2 to £l3; yearling bulls, £8 10s to £lO 10s; yearling Jersey heifers, £(5 lis Gd; Jersey-cross heifers, £5 10s. Pigs sold at a little under late rates, buyers of three companies operating.

RATES AT TE AWAMUTU. The Farmers' Co-operativo Auctioneering Company, Ltd., reporls having held its Te Awamutu slock sale yesterday, when an average yarding of all classes were yarded. Quotations:—Beef: Medium fat bullocks, £l3 10s to £ls 10s; light fat bullocks, A'lo Its to £l2 lis; fat cows, £l2 5s to £ll} fis; medium fat cows. £9 15s to £ll 19s; fat heifers, £ll 12s (id to £l2 10s; light cows, £7 12s (id (o £8 15s; forward cows, £(> 17s lo £7 2p (id; store rows, coed, i't 15s to £5 lGs; others. £.'! to .£•! 7s (id: steers, 2-year £5 17s to £7 (is; 2-year Jersey cross empty heifers, £7 2s lid; yearling Jersey heifers, £4 15s to £5 15s; yearling Shorthorn and cross heifers. £2 IPs to ft 19s; bulls, £1 5s to .lis 10s. Dairy catflo: Choice heifers, £ll 10s to £l3 Gs; backward sorts. £8 10a to £9 15s; others, £6 5s to £7 10s; choice cows. fl2 lo til! 10s; laler culvers, £9 10s to £ll. others, £(i lo £3 10s. Tigs: Light porkers. 3Ss to £2 2s; good stores, 29s to ■'His: slips. lGs Od to 2Cs (id: weaners, 10s lo 15s.

LONDON SHEEPSKIN SALES. Dalgoty and Company, Limited, report having received the following cablegram from their London house, dated October 25:—Sheepskin sales: The attendance of buyers is fair, hut competition is poor. Withdrawals are heavy. As compared with the closing rates of last series, combing sheepskins are fully 10 per cent, lower. SALE OF TALLOW. Dalgety and Company, Limited, report tlmt owing to a scarcity of supplies there will lie no public sale of tallow next week. PROPERTY SALES. J. H. Robertson, Limited, sold at auction yesterday a four-roomed dwelling on section of three-quarters of an acre in Princes Street. Otahuhu, .for £9OO cash.