LONDON WOOL SALES.

New Zealand Herald, Volume LXVIII, Issue 21049, 7 December 1931, Page 5

LONDON WOOL SALES.

GOOD GENERAL COMPETITION. NEW ZEALAND QUOTATIONS. LONDON, Doc. 4. At the London wool sales to-day, 11,138 bales were offered, including 5549 bales of New Zealand, and about 8050 were sold. There was good general competition. New Zealand scoured Merino combings, Balmoral, sold for a top price of 21d per lb., average, 19d; halfbred slipes, Fairfield, 12gd, greasy crossbred, lo£d, 9£d. Dalgoty and Company, Limited, has received the following cablegram from its London house dated December 4: —Tho wool sales continue, with tho Continent buying actively, and more general competition from the home trade. Tho sales will close on December 17. We will sell on December 9, 14 and 15.

ORIENT STEAM COMPANY. DIVIDEND OF 5 PER CENT. PROFITS AGAIN LOWER. LONDON, Dec. 4. The directors of the Orient Steam Navigation Company recommend the payment of a dividend of 5 per cent., free of income tax. The accounts for the year ended June 30 show, after tho transfer of £IOO,OOO from the contingencies account, a credit balance of £287,625. The amount to be carried forward is £153,321. Following is a comparison of the company's results for the last three years: — 1929. 1930. 1931. Brought forward £69,561 £99,02.'! £101,310 Net profits . . 391,832 237,6i,3 *186,285 £461,393 £336,666 £2)37,625 General reserve 125,000 50,000 Pensions reserve 25,000 25.000 Dividends — Preference . . 82.2C0 82,230 82,260 Ordinary, p.c. 12J 7i 5 Amount . . 130,110 T8.03S 52,0-14 Carried forward £99,023 £101,310 £153,321 'lncludes £IOO,OOO from contingencies reserve. The capital of the company is £2,325,140, comprising £243,380 in i 5 per cent, preference shares, £1,04C',880 in per cent, preference shares, and the same amount in ordinary shares. The secondclass of preference shares was, issued in 1927, when a corresponding sum from reserves was capitalised, one share being issued for every ordinary share. PACKING OF BUTTER. INQUIRY INTO DEFECTS. SAWDUST AND FRUIT TAINT. Investigations into complaints from London regarding sawdust in certain boxes of butter were reported upon by the shipping inspector at the kst meeting of the Dairy Produce Board. The report stated that it was very difficult to determine accurately the cause of sawdust being found on the top of butter beneath the wrapper and every possible avenue had been investigated,, Among other suggestions, it was thought that friction among the cargo in heavy weather might wear the nap off the inside of boxes and create sawdust. To rectify that possibility, certain boxes were being made a shade smaller, thus aiming at tight fitting to eliminate friction. Fruit taint had also been detected in certain shipments of butter, and this matter was being taken up with the shipping companies with a view to strict regard of the practice that fruit should not be loaded above a lower hold containing butter. Cases of mould developing in butter as a possible result of infection from fruit cargoes were also being investi-. gated with a view to elimination. Certain remedial action was contemplated, involving the co-operation of all interests affected. The board decided to urge all dairy companies to adopt every possible precaution in packing butter so as to prevent the possibility of uawdust coming in contact with the produce. It was also decided to make representations to the overseas shipping committee in respect to the loading of butter in association wi th fruit. With regard to cheese, tho board decided to emphasise to dairy companies the need for special care in handling, in order to avoid' possible damage to the contents of crates. It was stated that some factories seemed to be using poor quality bandage, with undesirable results upon the appearance of the cheese.

STOCK SALES. RATES AT NGARUAWAHIA. The New Zealand Loan and Mercantile Agency Company. Limited, Hamilton, report having held their stock sale at Nparuawahia on Friday, where a. small yarding of fnt cattle and a medium yarding of store and dairy cattle ct.me forward. Prices wero on a par with recent sales. Fat cows made £4 to £4 17s; medium, i' 3 •2s Gd to £3 ISs; light, £2 to £2 15s; store cows. .£1 Is to £1 7s; boners, to £1; yearling Jersey heifers, £3 7s 6d. medium dairy cows, £5 15s to £7; mote backward. £1 to £5 ss; heifers, £5 to £6. WAIHOU QUOTATIONS. Tho Farmers' Co-operative Auctioneering Company, Limited, report;—At \\ aihou sale on Friday we penned a smaller yarding of sheep and cattle. Late rates were fully maintained on nil classe.". There was an extra heavy yarding of fit- and store pigs, with a good majority of baconers. Values for fats remained on a par with late quotations, and were firm to the end of the sale. Stores and wenners met w tll less demand than usual and showed a decrease on last sale's prices. Quotations Light fat wethers, 9s lid to 10s 7d; fat ewes. 5s 2d to 8s; fat heifers, £3 4s to £4 13s; fat cows. £3 -is to £4; light fat cows, £2 to £5 15s; storo cows, £1 '2s to £'l 12s; boners. 8s to ISs; yearling heifers, £Q 12s Gd; potter bulls, £1 10s to £5; service bulls. .£2 15s to £4 7s Gd; dairy heifers. £!! 10s to £3. Pigs: Heavy baconers, 35s to 395; medium baconers, 31s to 345; light baconer3 and heavy porkers, 283 !o 80s; light porkers. 23s to 275; stores, liis Gd to £1; slips, 10s Gd to lis; weancrs, 9s to 12s Cd. RATES AT MORRINSVILLE. Messrs. Dalgety and Company, Limited, report having held their usual fortnightly stock sale at Morrinsville on Friday, when a small 'yarding came forward. Quotations:—Storo cows, £1 to £1 7s Gd; boner cows, 10s to 15s; potter bulls, £2; dairy cows, £2 to £4; porkers. £1 ssi Gd to £1 f?s Gd; slips, 18s to £1 0s Gd; best weaners, 14s lo lGs; rougher sorts, 10s to i:2s; fat ewes, 7s. OPOTIKI QUOTATIONS. [FROM ouft OWN CORRESPONDENT.] OPOTIKI, Saturday. Dalgety and Company. Limited, report that at tho monthly stock sale there was a small yarding of both cattle and sheep, and prices showed a decline from previous sale. Fat. cows realised £2 10s to £3 7s Gd; forward-condition cows, 25s to 37s Gd; store cows, to 17s; yearling heifers, £1 to £2 15s; yearling steers, to 255; 2-year steers, to 32s Gd; spring heifers, to £3 ss; pedigree Jersey bulls, to £4; potting bmla, to £2. Fat ewes brought 4s 9d; fat wethers, Sa 6d.