BARTHOLOMEW TIMBER CO.

New Zealand Herald, Volume LXVI, Issue 20363, 18 September 1929, Page 7

BARTHOLOMEW TIMBER CO.

DIVIDEND OF 8 PER CENT.

DIFFICULT MILLING YEAR.

Tho twenty-fourth annual report of tho Bartholomew Land and Timber Company, Limited, for the year ended July 31, states that the net profit, after making provision for depreciation and income tax, was £4050. To the year's profit has to be added the balance brought forward, £757, and there is deducted £2OOO in respect of the interim dividend of 4 per cent, paid in April. This leaves £2807 for appropriation. From it the directors recommend payment of a further dividend of 4 per cent., absorbing £2OOO, tho balance of £BO7 to be carried forward. Following is a comparison of the company's results for the last threo years:— 1920-27. 1927-28. 1928-29. £ £ £ Brought forward . . 772 3019 757 Net profit .. .. 4747 1)738 4050 £5519 £4757 £4807 Dividend, 8 p.c. . . 4000 4000 4000 Directors . . .. 500 —— Carried forward . . £lOl9 £757 £BO7 In 1925 26 tho company paid a dividend of 10 per cent, and placed £3012 to reserve. The principal liabilities, with the figures for I lie previous year in parentheses, arc as follows:—Capital, £50,000 (£50,000); bank, £1458 (£4184); sundry creditors, £6866 (£3246); reserve for income) tax, £340 (£300); reservo account, £15,000 (£15,000). Assets total £76,472, against £75,436 the previous year. The principal items arc as 'follows: —freehold property, £32.341 (£27,639); tramways and siding, £16,470 (£16,470); mill buildings and cottages, £1531 (£1611); machinery and plant, £6744 (£7100); sawn and dressed timber stocks, £5757 (£5681) ; shares in other companies, £2775 (£2775); advances on mortgage, £2308 (£2336); sundry debtors, £7958 (£11,580). The annual report states that the milling industry has again experienced _ a difficult, year. The marketing association recently -formed had established itself with headquarters in Hamilton and had been joined by the majority of sawmillers. It was confidently expected that savings would be effected in the collection and distribution of orders. Throughout the year the log supply had been good. Timber stocks were clean, and plant and machinery had been maintained in an efficient state.

The retiring director, Mr. Thomas English, offers himself for re election. The annual meeting will be held in Hamilton on Thursday, October 3.

WOOL AND SHEEPSKINS.

PROPOSED EXPORT DUTY.

OPPOSITION OF FARMERS

[BY TELEGRAPH. —OWN CORRESPONDENT. ]

DUNEDIN. Tuesday.

The recent move by fellmongering arid scouring interests in New Zealand to induce the Government to impose an export duty of 2d per lb on scouring wool and sheepskins—a measure that might be expected to result in a total revenue of £555,333 per annum—has not the support of producers of the commodities in question.

The request made to the Prime Minister, Sir Joseph Ward, the other day has aroused a good deal of comment, and there will be many sheep farmers who will await with a good deal of anxiety the result of the investigation of the matter which Sir Joseph has promised. Speaking on this subject to a reporter to-day Mr. James Begg said that the result of the imposition of such a duty must of necessity be a reduced price to sheep farmers for their product, since exporters would make an allowance in the price they offered which would cover the amount of the duty. The sum expected to bo realised by this duty was a large one. Capitalised at 5 per cent, it represented a writing-off of the sheepfarmers assets to the amount of over £10,000,000.

MARKET REPORTS

FRUIT AND PRODUCE PRICES

The keen demand which has existed for sonic weeks for all varieties of apples was again maintained at the Auckland City Markets yesterday. Supplies of apples, however, were small. First quality dessert pears also met with a good demand. Ripe bananas continued to be scarce and dear, selling at the unchanged rate of 29s 6d a case. There was a fair demand for oranges. Poorman oranges-were dull of sale, only large sizes being inquired for. Lemons showed a slight improvement. The field produce market was heavily supplied with cauliflower and swedes. Good supplies of nearly all vegetables, in season were offered, there being a fair demand. Potatoes and Tauranga kumaras were a little easier in values, and best quality cabbage considerably dearer. Only a small supply of asparagus was available. There were no changes in this prices for the six grades of hen and duck eggs, largo supplies meeting with an average demandMedium supplies of farmers' butter sold at the ruliiig rate of Is Id to Is 4d per lb. The following prices were realised yes* terday;— FRUIT.

Apples, Delicious, fancy, 14s to 15s a*case; others, lis to 13s: Sturmers, 12s to 13s; Doughertys. 10s to 12s Gd; Granny Smith. 13s to 15s: Wolseleys, 12s 6d to 13s. Pears. Coles, good condition, 9s to 12s; Nelis, 9s to 12s Gd. Lemons, choice, 9s to 10s 6d; No. 2 and mediums, Gs to 7s 6d. Oranges, Island repacks, 22s Gd to 245; Poonnans, No. 1. large, Gs to Gs Gd; medium and Bmall, 4s to ss; local, sweet, Gs Gd to 10s Gd. Tree tomatoes, Gs to 8s Gd. Bananas, firut grade, repacks, up to 29s Gd; seconds and mediums, 18s to 235. Grapes, Californian, Thompson's seedless. !Gs to 17s a barrel; White Malagas, 20a to 21s.

FIELD PRODUCE

Potatoes. Southern, 8s to 8s Gd per ewt; new. No. 1, 4d to 5d per lb: No. 2, Id to 2Jd: onions, American, 17s 6d a crato; spring, 3d to Is a bundle; kumaras. Tauranga, 93 to 10s per cwt; cabbage, best, 7s to 9s a sack: others, 2s to ss; on benches. Is to 3s a dozen; cauliflower. 2s Gd to 4s a sack: on benches, Is to 4s a doz«n; swedes, Is to 2s a bug; pumpkins, Gd to 12s fid per cwt; on benches. Is to 3s 3d each; beans, 2s to 3s per lb; lettuce, 3s to 8s a case; cucumbers, hothouse. 5s to 10s a doz.; celery. Is to 4s Gd a bundle; rhubarb, 3s to 5s a dozen: spinach. Is to 2s: radish. Is to Is 8d: carrots, parsnips, beet and turnips. Gd to Is; leeks, 3d to 5d a bundle; asparagus, 2s to 3s.

DAIRY PRODUCE

Hcil eggs, first quality, special (Trade, Is 3d a dozen: A grade la 3d: B grade, la Id: duck eggs, special grade, Is M. grude. Is Id; B grade, la; /armors butter, la Id to Is 4d per lb.

CANTERBURY PRODUCE

POTATO MARKET CHANGES

[BY TELEGItATUt. —PRESS ASSOCIATION.] CHRISTCHURCH, Tuesday. Tlio potato • market continues to change in a manner that is perplexing oven tho trade itself. On Friday September deliveries were reported at £6 ss, f.0.b., s.i. On Saturday an advance commenced, and yesterday afternoon sales were made at, £7 15s to £7 17s 6d. This morning, however, the pendulum started its backward swing, and this afternoon £7 5s to £7 7s 6<l was ruling, with buyers scarcely operating at the' higher figure. The sharp swing upward was a speculative movement without any apparent reason to justify it. Tlio Kurow sailed last night, and including the Katoa's consignment last week tho two vessels took between 5000 and 6000 sacks from Timarn and Lvttellon. The Wnipiata sails to night and the Wingatui next Tuesday. There is no change in Uie quotations of other products. A grado Garton oats are worth 3s 9d to 3s lOd, and B grado to 08 Bd, f.0.b., s.i.