NORTHERN STEAMSHIP.

New Zealand Herald, Volume LXVI, Issue 20255, 15 May 1929, Page 11

NORTHERN STEAMSHIP.

OPERATIONS OF, COMPANY.

PROFIT- OF £13,176 LAST YEAR

- DIVIDEND OF 8 PER CENT, Tli.o forty-eighth annual report of the Northern Steamship Company, Limited, to be presented to shareholders on Friday, shows a net profit for the year ended on March 31, of £13,161, after making provision for depreciation, insurance and boiler and repairs account., Transfer fees amounted to £l4, and the balance brought 1 forward was £9304; making a total of £22,480. . An interim dividend at the rate of 8 per cent, per annum, which was .distributed in November, absorbed £6456, and the directors recommend payment of a further dividend at the rate, of 8 per cent, for the remaining half of the year, leaving a balance to be carried forward of £9567. The retiring directors, Messrs. E, H. Davis, N. Alfred Nathan, and J. H. Upton, retire, but are eligible for reelection. Following is a comparison of the company's results for the last three years: — 1926-27. 1927-28. 1928-29. Brought forward . . £8,784 £8,987 £9,304 Net profits .. 13,110 13,230 13,170 £21,900 £22,217 £22,480 Dividends, 8 p.c. . 12,913 12,913 12,913 Carried forward . . £8,987 £9,304 £9,5G7 The company's assets, as (shown in the balance-sheet, amount to £324,879, compared with £316,388 last. year. The principal items, with the corresponding figures for last year in parentheses, are as follows:—Vessels, wharves, sheds and sundry gear,' less amount' at credit of the depreciation account, £195,367 (£193,163); Quay Street . premises, £11,167 (£11,432); investments, £77,716 (£73,008); coal and stores on hand, £14,779 (£8747); accounts owing to company, including , agents' balances, £23 525 (£28.573). Liabilities include capital," £161,412 (£161,412); insurance accounts, £75,693 (£75,479); sundry liabilities, £71,593 (£52,621).

MARKET REPORTS. FRUIT AND PRODUCE PRICES. All lines of choice dessert and cooking apples sold at about last week's rates at tho Auckland City Markets yesterday. Pears were rather dull of sale. Lemons sold freely at 12s to 15s a case, the price ruling last week. Hothouse grapes were in good demand, selling at Is to Is 6d per lb. Choice local and hothouse, tomatoes realised slightly higher values. No bananas were available. A fresh shipment of Australian grapes and possibly _a few mandarines will arrive by the Ulimaroa from Sydney to-day. Sunkist oranges sold at 32s to 34s a case, a decrease of Is a case, while Island, ex-Wellington, repacks brought 22s to 245, the same rate as last week. The field produce market is still heavily supplied with cabbage, pumpkins, kumara and cauliflower. Large quantities of all root vegetables also came forward. There was a fair demand. In the dairy produce section both hen and duck eggs were in short supply and met with a moderate demand. Both A grade hen and duck eggs were a penny a dozen cheaper. There was «i fair demand for moderate supplies of farmers butter, which sold at the unaltered price of Is ld< to Is 4d per lb. The following prices were realised yesterday : FRUIT.

Apples, Delicious, extra choice, 7a to 9s a case; others, 5s to 6s: Jonathans, 6s to 8s;. Munroes, 5s to 7s: Ballarats, 7s to 8s: Granny Smith, 8s to 10s: Ed. Lippiatt, 4s Gd to 7s, Pears, Keiffers, 4s to 7s; Coles. 4s to ,9s; Nellis, 4s to 9s. Tomatoes, best local, Ss to 12s; local, others, 3s to 6s: hothouse. 13s to 14s 6d; Hutts, 4s to 8s: tree tomatoes, 3s to 6s; passions, 6s to 12s; Cap 6 gooseberries. 4d to 5d per lb.: persimmons, 23 Gd. to 3s 6d a case; lemons. No. l'e, 12s to 15s; No. 2's, 6s to 10s; grapes, extra choice. Colman, Is 9d to 2s lid per lb.; hothouse, others, Is to Is 6d: oranges, Sunkist, 32s to 34s a case; Island. ex-Wellington, repacks, 22s to 245. FIELD PRODUCE. Potatoes, Southern. 7a to 8s per cwt: local, 3s 6d to 4s 6d a bag; onions. 3s 6d to 43; spring, 3d to 8d a bundle; kumara. 3s to 4s Cd a bag: cabbage, 3s to 103 a eack; on benches, 2s. 6d to 5s a dozen; cauliflower, 4s to 10s a sack; on benches. 3d to Is each; ewedes, Is 6d to 2s 6d a bag: pumpkins, 2s to 7s per cwt; on benches. Gd to 9d each; beans, 3s to 9s a bag: le.ttuce, Is to 4s a case: cucumbers. 3s to 6s a dozen; vegetable marrows, Is 6d to 3s: citron melons, 2a to 4s a sack; celery, Scl to 3s 9d a bundle: rhubarb, 2s to 2s 6d a dozen: spinach, 6d to 9d: radish, 4 d to 6d: carrots, parsnips, beet and turnips, 8d to is: leeks, 3d to a bundle; chokos. Is to 2s a dozen. DAIRY PRODI tce.

Hen eggs.. A pade.firet 2s 9d to 2s lOd; B grade, 2s' Gd to 2s 7d;C B™de. •2s 3d to 2s 2d; duck eggs, «A grade. 2s 3d to 2s 4d; B grade. 2s to 2s Id: C gradeIs Sd to Is lOd. Farmers butter. Is la to Is 4d pbr lb. CANTERBURY MARKETS. . POTATOES A LITTLE FIRMER. [BY TELEGRAPH. —PRESS ASSOCIATION.] CHBISTCHX7RCH, Tuesday. Not much change has occurred in the potato market in the past week, but tubers ' are a little firmer, due to the better demand from Auckland for prompt delivery. There liiis been little business for the North for the past two months, most going forward on consignment or contracts made some time ago. As a result local offerings have been cleaned up quickly! The Kaituna and Waipiata will leavo Lyttelton direct for Auckland toward the end of the week and will take potatoes, but at present there is no information as to.quantity. Uiere will be a gap of ten clays between the arrival 01 the last vessels with potatoes .from the South at Auckland and the arrival of the Waipiata and Kaituna. They are not likely to take a large quantity and Auckland merchants will be given'a goon chance .to clean up their stocks.' Oiterings locally are not numerous and the market is still firm, with little change. The prices quoted to-day were £4 & M to £4 ss. One merchant said to-day that ho found , the market to have a little brighter tone, but there was not much difference in quotations. Tho. prices quoted for Mav June delivery were £5 10s, f.0.b., s.i., and for July-August or September delivery, £6 12s 6d, f.0.b., s.i. The last-mentioned price was down 2s ocl on the previous week. Onions aro quoted at about tho same price. Tho Karetu was to leave to-day for Sydney direct with 400 to 500 tons, making the third shipment this season. Tho bulk of onions going to Sydney-have oeen on sales, not, consignment. Som« have arrived in very bad condition. If ll'OO to 1200 tons bad not been sent to Australia this year the local price would probably have touched; bottom at less than £2. At present it stands at £4 5s to £4 10s, with plenty offering. Not a great deal of wheat is offering and the price remains steady at 5s 8d per bushel, on trucks, for Tuscan. Outs avo about the same at 3s 6d, f.0.b., s.i., for A's, and 3s 3d for B's. Merchants are riot holding large stocks, farmers apparently being reluctant to sell freely. , • \ Chaff is quoted at £5 10s and £5 12s 6d, f.0.b., s.i., with a little more inquiry, and tho tone of the market is better. , Not much activity is taking"place 1 in seeds. Red clover is offering freely, 6£d to 7Ad being paid, according to quality. This year the quality, is not choice, samples showing a large percentage of brown seeds, There is some improvement on last year, when there was tho same characteristic. For white clover 9d to lid is being paid, according to quality.