FARMERS' FREEZING CO.

New Zealand Herald, Volume LXVI, Issue 20405, 6 November 1929, Page 7

FARMERS' FREEZING CO.

NORTH CANTERBURY YEAR.

LOSS OF OVER £29,000 SHOWN.

[BY TELEGRAPH. —OWN CORHESFONDENT.] CHRISTCHURCH. Tuesday. Tho annual report of the North Canterbury Sheepfarmers' Co-operative Freezing, Export and Agency Company states that tho directors regret that, owing to the severe fall in tho meat and wool markets, the year's operations resulted in a loss of £29,152, which, with the amount carried forward from last year, makes a total of £29,419.

The directors recommend that the loss should bo dealt with by writing off the general reserve of £9OOO and the dividend equalisation reser v t e of £SOOO, leaving a balance of £16,419 to be carried forward. . During the year an alteration in tho arrangements for the disposal of tho company's meat was approved by the majority of the directors. Of the retiring directors, Messrs. G. D. Greenwood and J. 11. Blackwell, the former does not seek re-election, and Messrs. Blackwell and Colin Mcintosh, the only nominees, are duly elected.

The company paid a dividend of 6 per cent, in but in the. following year incurred losses exceeding £20,000, which absorbed half its reserves. There was a small loss in 1926, but in 1927 profits totalling £6875 were declared and a dividend of 6 per cent., amounting to £5094 on the capital of £84,855 was paid. Last year, the company lost over £BOOO, and carried forward a deficiency of £267. The past year's results have extinguished all its reserves and left a deficit of £15,419.

MARKET REPORTS*

FRUIT 'AND PRODUCE PRICES. Few local apples were available at the Auckland City Markets yesterday, with the exception of Sturmers, which sold at 9s to 12s 6d a case. The first shipment of Canadian apples arrived on Monday and landed in good condition, five choice varieties selling well yesterday at prices ranging from 16s to 20s a case. A few local pears arc still coming forward and sold well yesterday, while lemons were in better demand at 6s to 12s a case. Strawberries are steadily increasing in quantity, and the Captain Cook variety realised Is 9d to 2s 3d a chip, while Marguerites sold at lOd to Is 3d. There is a good demand for bananas, and hothouse tomatoes are selling well. Australian cherries, .passion fruit and pineapples were available and -sold well at reasonable prices for this time of the year. The field produce markeft was very heavily supplied with cabbage, cauliflowers and new potatoes, while green peas also were plentiful. All root vegetables in season were in gooc? supply, and sold to a fair demand at ruling rates. Vegetable marrows sold at 4s to 9s a dozen, while Sydney cucumbers realised 12s to 16s a case. .Green peas showed a marked decrease in price, selling at to 4£d per lb, and broad beans sold well at 2£d to 3d per lb. A decrease of Id a dozen in the prices of all grades of hen eggs was the principal change in the dairy produce section. Special-grade hen eggs are now selling at l Is 3£d a dozen, while duck eggs' are unchanged in value., There was an increase of Id a pound in farmers' butter, bringing the price back to the usual rate of Is Id to Is 4d a pound. The following prices . were realised yesterday:— FIELD PRODUCE. . Potatoes, Southern, 6s to 8s per cwt.': new, lid to 2d per lb.; onions. 14s to 17s 6d a case; kumaras, Island, 9s to 9s 6d per cvt.; Tauranga, 6s 6d to 8s 6d per cwt.: cabbage, Is to 5b a sack; on benches. Is t>d to 2s 6d a dozen; cauliflower, 3s to 7s a, sack, on benches, 2s to 5s 6d a dozen; swedes, Is to Is 6d a bag; pumpkins. 12s to 17s per cwt.; on benches Is 6d to 2s 6d each; green peas, 2id to 4}d per lb.; beans, broad, 2Jd to 3d; French beans, 6d to Is 6d: lettuce. 2s to 5s 6d ft case; cucumbers, hothouse, 4s to 5s 6d a dozen; Sydney, 12s to 16s a case'; vegetable marrow. 4s to 9s a dozen; rhubarb. Is 6d to 3s 6d a dozen bundles; spinach, Is; radish, 6d; spring onions, 4d to Is a bundle; carrots parsnips, beet and turnips, 8d to Is 4d a dozen, bundles; asparagus, 6d to 8d a bundle, leeks, 3d to 4d. FRUIT. Sturmers, 9s to 12s 6d a case;. Grannie Smith, 10s to 14s; Canadian, Delicious. 20s. Jonathan, 16s to 17s: Grimes Golden, 16s to 17s; Mcintosh Red, 17s to-18s; Cox Orange, 20s; paais, Nellis. 16s to 18s: Coles. 14s to 18s; P. Barrys. 7s to 10s; tomatoes, hothouse, 9d to 2s per lb.; lemons, first quality, choice, 9s to 12s a case; medium quality. 6s to 8s; oranges. Island, repacked, 24s to, 30s; Sydney, -Valencias, 16s to -2s 6d- Californian, 40s to 445; Pooman.. S3 to 12a'; strawberries. Captain Cook, choice. Is 9d to 2s 3d a chip; Marguerite, lOd to la 3d- bananas, repacked, ripe. 24 s to 25s a case'- second quality and medium. 16s to 22s:' grapes, Californian,. 255: cherries. Australian, 15s to 21s; passion fruity Aus r tralian, 22s to 25s 6d; pineapples, Australian, 12s 6d to 14s 6d. DAIRY PRODUCE. Hen eggs, first quality, special grade. 8 % nsfr HIDES AND SKINS SALES. DULL CONDITIONS PREVAIL. There was a very dull market for hides at the fortnightly sales conducted at the Chamber of Commerce yesterday. There was little competition, and a large proportion of the available hides was passed in. Few heavy hides were sold, and many light and medium hides were sold -Ad per pound cheaper than the prices realised at the last sales. The market was firm for skins, with little change in v .dues. . , The following prices were realised yesU Cow' hides, light and medium, 6|d to 71 d per lb.; heavy, 6Jd to 7d; .second quality and cut, 4£<l to faulty, 4d to sd; ox hides, light, 6*d to 7d; medium and heavy, 6d to 6'd; second quality and cut, 5Ad to 6d; kips, best grade, 63d to 71 d; seconds, 5Ad to 6d; yearlings, best grade, B|d to 9d; seconds ,63d to 7d; calf skins, heavy, 9 to 101b. weights, BAd to 9d; best light, 12Jd to 13d; best medium, 13£ d to light and medium, cut, 10|d to .lid; slippy, B*d to 9|d. Sheepskins: Three-quarter to :EuU\yoolled, medium to fine crossbred, IOAd to lid; coarse crossbred, 9jd to lOd; faulty, Bjd to 9d; damaged, 71d to 8d; badly-damagod and broken, s£d to od; half-woolled, medium to fine crossbred, BAd to 9d; coarse crossbred, B|d to 83d; faulty,'7d to 7gd; damaged, s£d to 6d; quarter to half-woolled, damaged, 5d to sid: lambskius, sound, 10£ d to 10|d; faulty and seedy, B£d to 9d; damaged, ,7id to 8d; salted sheep skins, threequarter to full-woolled, 9s '9d to 10s each; medium, 8s 3d to 8s 9d; light, 5s 3d to 6s 3d; half-woolled, large, 6s to 6s 3d; medium, 4s 6d to 5s 3dj lights 2s to 3s Bd. . , billow.—Best mixed, in. barrels, 28s 6d to 29s per cwt.; second quality, 24s to 26s 6d; poor quality and gut-stained, 21s to 22s 6d; in tins, good quality, 27s 6d to 28s; seconds, 24s 6d to 265. Horse-hair.—Best tail, Is 8d to Is 9d per lb.; mixed, Is 6d to Is 7d; ishorts, lOd to Is Id; mane, B£d to 9d. Bones.—Clean, dry, £5 15s per ton.: SEARCH FOR OIL. [BY TELEGRAPH. —PRESS ASSOCIATION.] GISBORNE, Tuesday. Taranaki Oilfields report:—Gisborne Nix 2 well: The derrick is completed and ejection of machinery is in progresif. Weather conditions are good. ■ Kotuku i No. 1" test hole : Caving«n. prevents, fur--; ther Preparing to. make anpfchep: test'neaa; same-localion-; J