MORE BANKRUPTCIES.

New Zealand Herald, Volume LXVIII, Issue 20761, 2 January 1931, Page 5

MORE BANKRUPTCIES.

RETURNS FOR PAST YEAR. «. * FARMERS HEAD THE LIST. EFFECT OF DIFFICULT TIMES. The number of bankruptcies in the Auckland I'rovinco last year shows a marked increase over the figures for 1929 and 1928, the total number being 153. against 130 and 133 respectively. In the past tl'iroo months of the year thoro were 51 bankruptcies. It is noticeable that the list is headed by fanners and settlers, with a total of 22. Following is a comparison of the number of bankruptcies in the past three

Those returns do not include any bankruptcies in Hamilton and Wliangarei, which now constitute separate centres. Last year the total for the Hamilton district, which extends from Mercer to Tanmarunui, was 81, an increase of 27 compared with the previous year. There were one or two large failures during the past year, including that of an Auckland solicitor, whose assets were estimated at over £IOO,OOO, and whose, liabilities totalled over £60,000. Two limited liability companies were also included in last year's list.

A feature of last -year's returns is the high total for tho final three months of the year, when 51 bankrupts, or one-third of the year's total, were adjudicated. October was the busiest month, 20 bankrupts filing, while in that month the total for tlio previous year was passed. December was the second busiest period, 19 bankrupts being adjudicated. Tho greatest number of bankruptcies during tho past year was among farmers and settlors, who appear to have been the hardest hit by (lie present difficult times. Farmers head tho lis; with 22, while in 1929 they also headed tho list with 15. In 1928 (hoy were also the most prominent. With the exception of medical practitioners and drapers, every leading profession and trade was represented last year. Next to farmers come labourers, with 19, builders and contractors 14, and storekeepers, land agents and engineers 5 each. Among tho other miscellaneous professions and trades were those of aviator, solicitor, school teacher, stock dealer, billiard-room proprietor, fisherman and stationer. There were two widows and five married women in the list.

COMMONWEALTH BILLS. i ISSUE FULTiY SUBSCRIBED. LONDON. Dec. 30. Tho newly-issued Commonwealth Treasury bills have been fully subscribed. DAIRY PRODUCE PRICES. BUTTER MARKET STEADY. Nordcn and Company, Limited, has received the following cablegram from It. and W. Davidson, Limited, London:— Butler, salted, 114s to 116s; unsalted, 112s to 118s. Cheese, white, 60s to 625: coloured, 59s to 61s. Prospects of higher prices. N.Z. AND RIVER PLATE. ■ DIVIDEND OF 9 PER CENT. Cabled advice has been received by the local attorneys of the New Zealand and River Plate Land Mortgage Company that the net profit for tho year ended October 31 was £118,124. At tho annual meeting, to lie held in London on January 12, the directors will recommend that a final dividend be declared, making a total of 9 per cent, for the year (less income tax 4s 6d in the pound) absorbing £63,000, that £IO.OOO be carried to reserve, and that £45,124 be carried forward. On account of the depreciation of Argentine exchange, £90,000 has been transferred from reserve to nn exchange provision account. This is a similar course to that, adopted at the end of 1923, when £50.000 was transferred from reserve to River Plato exchange provision account. Following is a comparison of tho company's results for the last three years:— 1923. 1929. 1930. Brought forward £45,389 £45.793 £45,910 Net profits .. 78,401 73.117 72.214 £123,793 £123,910 £118,124 To reserve .. 15,000 15,000 10,000 Dividend, 9 p.c. R3.000 G3.000 03,000 Carried forward £45,793 £45,910 £45,121 The dividend was 7 per cent, in 1923 and 1924, 71, in 1925, 8 in 1926, and BJ, in 1927. With the addition from the past year's profits, and after the provision for exchange, (ho reserve will stand at £2.500.000. The capital of the company is £700,000. THE LONDON MARKETS. QUOTATION'S FOR WHEAT. LONDON. Dec. 31. Wheat cargoes are steadier, following better North American reports, combined with more unfavourable weather in .Argentina. There is a good demand for Australians from India, mostly at 3d to 6d higher, up to 21s 3d for March delivery at Bombay on Indian terms. Parcels are firm at 6d higher. Manitobas and Plates are held for another shilling, but trading is quiet. Lots ex Troilus brought 24s 6d at Glasgow. Futures: London, February, 19s s<l, April, 19s Bd. .Liverpool, March, 4s 2 1-8(1 per cental; May, 4s 27-8 d; July, 4s 4d. CHICAGO WHEAT MARKET, (Received January 1, 5.5 p.m.) CHICAGO, Dec. 31. Wheat.—December, 765 cents a bushel; March, 79 5-8 cents; May, cents; July, 62J cents. FLAX-GRADING RETURNS. A substantial decline, is shown in the returns of hemp graded at the port of Auckland during December, compared with the figures for the corresponding period of last year. All grades have suffered to an average extent of over 66 per cent. Following are the figures for December, those for the corresponding month of 1929 being given in parentheses: — Hemp:—Good fair, 12 bales (141); high fair, 71 (1058) ; low fair, 208 (305) ; common, 61 (107) ; rejects, 175 (46) ; total, 527 (1657). Tow. —No. 2. 31 bales (443); No. 3, 55 (73); condemned, 30 (15); total, 116 (531).

years:— 1020 30:30. 1028. January .. .. It 0 (I Fob run ry .. 11 10 15 March . . 12 20 11 April . . 7 1 1 7 May . . 12 12 10 J 11110 . . . . 12 (', 0 July . . 15 12 11 August . . 11 11 11 Keptetr.her . . 11 13 14 October . . . . GO 12 8 November . . 12 <1 0 December . . 19 10 7 Totals . . 153 130 133