BRITISH WOOL TRADE.

New Zealand Herald, Volume LXVII, Issue 20556, 6 May 1930, Page 7

BRITISH WOOL TRADE.

NEXT LOiN DON SALES, FIRM MARKET PREDICTED. LONDON, May 4. The prospect for the next wool sales, to be opened in London on May 13. i>; generally regarded favourably. 'lho Economist says: —"It is expected that values will be firm, with possibly a slight advance for certain classes. There is no doubt whatever that but for labour troubles a substantial improvement in trade would have been seen during tho interval compared with the previous months. "Even now there are indications of a very encouraging character, and as soon as the dispijte is settled an effort will be mado to regain tin? lost ground. Unfortunately the best time of the year for execution of summer repeat orders is passing without any opportunity being provided for homo export orders to bo dealt with." GREY VALLEY COAL. USUAL INTERIM DIVIDEND. The usual interim dividend of 3 per cent, has been declared by tho directors of the Grey Valley Coal Company, Limited. Payment will bo mado on May 21. Last year the company paid an interim dividend of 3 per cent, and a (in:il dividend of 5 per cent., making 3 per cent, for the year. In the previous year it paid 6 per cent. THAMES FRUITGROWERS. PROTECTION OF STONE FRUITS. [BY TELEGRAPH. —OWN CORRESPONDENT.] THAMES, Monday. At a conference of Thames fruitgrowers on Saturday tho Government orchard instructor emphasised tho necessity of a diligent search for diseased trees and other sources of infection. Only by combined effort, he said, could infection be reduced to a minimum. Replies were received from the Railway Department concerning protests of unnecessary delay in the transit of fruit to Wellington and Auckland. It was stated that in future every endeavour would be mado to expedite delivery. The secretary of the association was requested to attend the Auckland provincial fruitgrowers' conference to endeavour to enlist the co-operation of that body in obtaining protection from the importation of Australian stone fruit while the local crops were in season. FROZEN MEAT MARKET. QUOTATIONS IN LONDON. Tho Bank of New Zealand has received tho following advice from its London office as at the close of business last week:—Frozen meat: The market for wethers is affected by heavy supplies of Argentine. Trade is very slow in ewes. The market is over-supplied in lambs and prices aro affected in consequence. Tho beef market is also affected by heavy supplies o£ Argentine. Quotations:— Wethers, light,. 4£d to s£d per lb; heavy, 3jd to 4^d; ewes. 2jd to 4-^d; lambs, twos, 8d to Bid; eights, to 7^d; fours, 7d to 7^d; seconds, 7£d to B|d; ox hinds, sjd to sgd; fores, 3£d to 3fdj cow hinds, 4£d to 4fd; fores, 3d to 3^d.

BUILDING SOCIETY'S YEAR

OPERATIONS IX CIIRISTCHURCH. [BT telegraph.—own- correspondent.] CHRISTCmjRCH, Monday. The annual report of the directors of the United Building Society of Christchurch shows that the net profit for the year amounted to £3393, compared with £2474 for the year ended March 31, 1929, and £1534 for tho nine months ended March 31, 1928 At the formation of the society the sum of £IO.OOO was reserved for the purpose of equalising dividends until such time as the Starr Bowkett free of interest loans had been reduced to a minimum to allow for the payment of dividends at the rate> of 5 per cent, per annum, stated the report. Withdrawals had reduced the amount of the reserve to £6438 and it was apparent "that if the present rate of progress was maintained by the society tho reserve would bo more than sufficient for the purpose for which it was created. The balance of unpaid premiums on Starr Bowkett loans had been reduced during tho year to £7902; against which there was a reserve fund of a similar amount. These unpaid premiums were secured by first mortgage and 'were transferred to profit and loss account as the instalments were paid. A reduction of £llO in the reserve account, continued the report, is accounted for by the fact that during the year the directors rearranged certain free loans and converted them into interest-producing mortgages. The expenses of- management of the society's business were kept as low as possible and compared favourably with those of similar societies.