SYDNEY WOOL SALES.

New Zealand Herald, Volume LXVIII, Issue 20969, 4 September 1931, Page 5

SYDNEY WOOL SALES.

MARKET VERY FIRM. FOREIGN BUYERS ACTIVE. (Received September 3, 10.35 p.m.) SYDNEY, Sept. 3. At the wool sales to-day 11,482 bales were offered, and 9473 sold. Also 525 bales were sold privately. The market was very firm at late rates, and competitition wider, the principal purchasers being Japan and Yorkshire. Good support was received from Belgium and Italy on skirtings. Greasy Merino sold up to 13d. NJEW WOOL INDUSTRY. SCOURING AND CARBONISING. REGISTRATION OF COMPANY. A company for the establishment on a co-operative basis throughout New Zealand of plants for sorting, scouring and carbonising wool, the New Zealand Cooperative Scouring and Carbonising Company, Limited, has been registered at Auckland. The company has a nominal capital of £200,000, divided into'2oo,ooo shares of £1 each, being 100,000 ordinary shares and 100,000 grower shares. The subscribers are H. T. Clements, J. Bod die, S. Smith, H. W. Wilson, J. McLeod, J. A. S. Mackay, S. G. Worsp and E. G. Findlay, 200 shares each. C. L. INNES AND CO., LTD. LOSS ON YEAR'S WORKING. NO ORDINARY DIVIDEND. After making provision for depreciation, bad debts, income tax, etc., the directors of C. L. Innes and Company, Limited, disclose a net loss of £35 for the year ended June 30. No dividend, is declared on ordinary shares. The 24th annual meeting of shareholders was held at Hamilton last week. Mr. A. A. Martin, chairman of directors, who presided, stated that the past year's trading had been affected, in common with all other commercial enterprises, by the prevailing depression, also as a result of the bad weather conditions during the summer months, which had adversely affected profits. The opinion was also expressed that the present heavy taxation was crippling all business enterprises. An interim dividend of 4 per cent, has been paid on preference shares and it was decided to declare a further dividend of 4 per cent, on these shares. No dividend was declared on ordinary shares. Dividend on ordinary shares had. previously been maintained at 8 per cent, for a number of years. On the preference issue tlje rate is unchanged. Following is a summary, from the details available, of results over the past three years:— I 1929. 1930. 1931.' Brought forward .. JE7O3 .£769 JE6SS Net profits.. .. 4.59S 4,112 35* Dividends .a .. 2,434 2.446 799 « Reserves .. ..• 6,152 8,250 9,886 *Loss. DAIRY PRODUCE PRICES. Merchants have received the following cablegrams from their London houses, dated September 2: — Joseph Nathan and Company, Limited: Butter, Ills. Cheese: White, 60s to 61s; coloured, 61s to 625. Both markets are quiet. New Zealand Loan and Mercantile Agency Company, Limited: Butter, Ills to 112s. Cheese: White, 61s to 625; coloured, 63s to 645. The market is slow. AUSTRALIAN PRODUCE. (Received September 3, 8.15 p.m.) SYDNEY, Sept. 3.' The following are to-day's quotations on the Sydney produce markets:—Wheat, ex trucks, at Sydney, 2s 2£d; at country stations, Is flour, £10; bran and pollard, £3 15s: Potatoes, Tasmanian, £9 9s; Victorian, £7; Onions, Victorian, £5; c-ats, white and Algerian, 2s 6d; maize, 3s 2d. PROPERTY SALES. . Samuel Vaile and Sons, Limited, will offer at auction at their rooms, 83, Queen Street, at 2 p.m. to-day. eight-roomed house at 18, View Road, Mount Eden; five-roomed house at 1, Te Marana Avenue, Ellerslie; fourroomed bungalow at 26, Warnock Street, Grey Lynn; and five-roomed house at 205, Church Street, Te Papapa, Onehunga. T. Mandeno Jackson will offer at auction *at their rooms, 9, Commerce Street, at 11 a.m. to-day: Farm of 1554J acres, with sixroomed house, two-roomed cottage and sheds, at Opualia. near Tuaknu; and four-roomed houso at 37, Buckland Road, Epsom. THE PRICE OF GOLD. LONDON, Sept. «. Gold is quoted at 84s 9Jd per oa. ■'!■