HUDDART-PARKER, LTD.

New Zealand Herald, Volume LXVI, Issue 20199, 8 March 1929, Page 9

HUDDART-PARKER, LTD.

REDUCTION OF PROFITS. DIVIDEND OF 10 PER CENT. Australian and N.Z. Press' Association. SYDNEY, March 7. The annual accounts of Huddart-Parkcr, Limited, for the year ended December 31, disclose tht the profits fell from £143,000 in 1927 to £124,457 in 1928, owing to the marine cooks' and waterside workers' strikes and to the stagnation in the coal industry, in which the company is interested. The dividend has been reduced from 14 to 10 per cent. The dividend on preference shares is 6 per cent. These dividends will absorb £105,000. Following is a comparison of (he "orapany's results and appropriations for the last three years: — . 1926. 1927. 1928. Brought forward £29,400 £IB.BBB £10,017 Net profit . . J41,003 113,000 124,457 £ 170,409 £ 101,394 £143,474 To reserve . . 1,581 7,877 Dividends— Pref., 6 p.c. . . 30,000 30,000 30,000 Ord., rate p.c. JO* 14 jO Amount .. 120,000 105,000 75,000 Carried forward £IB,BBB £19,017 £38,174 •Includes jubileo bonus of 5 per cent. The company's general reserve was increased last year to £380,000 Other iesorves a year ago were £285.904 in the insurance fund, and £380,212 in the reserve for contingencies. LONDON WOOL SALES. DECLINE IN PRICES. NEW ZEALAND CLIPS SOLD. Australian and N.Z. Press Association LONDON, March 6. At the London wool sales to-day 8815 bales were sold, of which 2363 were New Zealand. There was a limited selection of Merinos and a good selection of greasy crossbrcds. There was a large attendance from all centres. Crossbreds met with good Yorkshire competition. Fine quality declined 7£ per cent, compared with January closing prices, medium and low declined 5 per cent. Fine Merinos were at par to 5 per cent, lower, and broad-haired sorts 5 per cent, lower.

The decline has been more than discounted in the consuming centres in the interim since the last sales, and brings the London values in line with those in the primary centres. The following New Zealand . clips sold: —"Cricklewood," 19d to 17dj "Ngaio," to 17d; "M.P.," 20±d to 18£ d; "Waiau," 18d to 16Jd; "Kwinta," 18d to 15-^d.

REPORTS FROM MERCHANTS. j . ■ ■ ■ - ■ LOWER PRICES IN SOME LINES. Dalgcty and Company, Limited, report having jeceived the following, cablogi'am from their London house dated Miirch 6 The wool sales have opened. The attendance of buyers is large, and competition animated. The selection of crossbred is good, and of jSHbriiio poor. As compared with the closing rates of last series, greasy Merino is from par to Id lower; greasy half bred, Id to l|d lower; greasy crossbred, fine, §d to Id lower; greasy crossbred, medium and coarse, Id lower; slipe, Id to lgd lower. The Bank of New Zealand has received the following advice from its London office dated March 6: —The wool sales have opened with strong competition, and a large attendance of buyers. There is a good demand for all wools. . Compared with the close of the last series, Merinos and crossbreds are about oiiq_ penny lower. The New Zealand Loan and Mercantile Agency Company, Limited, lias received the following cablegram from its London house, dated March 6:—There was a normal attendance at the opening of the wool sales to-dav, competition by Home and Continental buyers being good. Prices as compared with the close of the preceding series ruled about 5 per cent, lower for Merino wool, fine greasy crossbred and slipe crossbred, and 5 per cent, to per cent, lower for medium greasy crossbred. The opening catalogues were fairly representative. SERIES IN SYDNEY. LATE RATES MAINTAINED. Australian olid N.Z. Press Association . SYDNEY, March 7. At the Sydney wool sales to-day 10,659 bales were, sold. The market closed without change. There was strohg general competition and excellent clearances at late rales. Badly classed wools were irregular. Greasy Merino sold to 26^d. THE PRICE OF GOLD. Australian Press Association—United Service LONDON, March 0. Gold is quoted to-day at 84s per OZ. TARANAKI OIL SHARES. Australian and N.Z. Press Association (Received March 7, 8.11 p.m.) SYDNEY, March 7. Taranaki oil shares sold at 5s on the Sydney Stock Exchange this morning. MELBOURNE HIDES SALES. Australian and N.Z. Press Association (Received March 7, 11.35 p.m.) MELBOURNE. March 7. At the Melbourne hides sales to-day there was an active market. Values generally were one farthing to one halfpenny dearer. SOUTHERN EXCHANGES. [BY TELEGRAPH. —PRESS ASSOCIATION.! WELLINGTON, Thursday. The following sales were mado on the Stock Exchange to-day:—New Zealand Government per cent. Bonds (1938), £100; Now Zealand Guarantee Corporation, 9s 2d and 9s 4£d ; Commercial Bank, 295; Wellington Investment, lis; Wellington Woollen (preference), £7 7s; New Zealand Breweries, 58s (two). CHRISTCHUItCH. Thursday. The following sales' were made on the Stock Exchange (o-day:—Australian Bank of Commerce, 38s 9d (three parcels); Commercial Bank of Australia, 295, 29s Id; Morcailtile Mutual Insurance, 335; Dalgcty and Company, £ls 12s; New Zealand Guarantee Corporation, 9s 3d; United Building Society (cam. div.}, 16s 9d; New Zealand Refrigerating (10s paid), 7s 7d (two parcels); Now Zealand Breweries, 58s (three parcels); Dunlop Rubber, 26s 3d; Mount-Lyell, £2 3s (three parcels): Now Zealand Farmers' Fertiliser, 2Cs 9d, 20s lid; Melbourne Herald and Weekly Times, £5 2s 6d; Lander Oil, 7s 6d; Beath and Company (is paid), 3s 7d: New Zealand Sugar of Milk, 225; Wilsons Cement, 40s (two parcels).