N.Z. AND RIVER PLATE.

New Zealand Herald, Volume LXVIII, Issue 21069, 31 December 1931, Page 3

N.Z. AND RIVER PLATE.

PROFIT SLIGHTLY LOWER. DIVIDEND MAINTAINED. ' Cabled advice has been received by the local attorneys of tho New Zealand and River Plato Land Mortgage Company, Limited, London, that the net profit for the year ended October 31, including £45,124 brought into the accounts, was £106,983. At the annual meeting, to be held in London on January 11, the directors will recommend that a final dividend bo declared, making a total of 9 per cent, for tho year (loss income tax at 4s 6d in the pound on the interim dividend, and 5s 6d in tho pound on the final dividend absorbing £63,000, and that £43,983 be carried forward. The sum of £165,000 has been transferred from reserve to exchange provision account, but the report states that, owing to tho rise in tho Argentine rate of exchange since October 31, no portion of the exchange provision would have been required on December 22, tho date of tho report. Following is a comparison of the company's results for the last three years:—• 1929. 1930. 1931. Brought forward . £15,793 £45,910 £45,124 Net profits . . 78.117 72.214 61.859 £123,910 £118,124 £100,983 To reserve . . 15,0(10 10,000 Dividend 9 p.c. . . 63,000 63,000 63,000 Carried forward . £45.910 £45,124 £43,983 The dividend rate of 9 per cent, lias been maintained since 1928. It was 8j per cent, in 1927, 8 in 1926, 7£ in 1925, and 7 in 1923 and 1924 With tfio transfer to the exchange provision account, tho reserve will be reduced to £2,335,000. The capital of the company is £700,000. DAIRY PRODUCE EXPORTS. SHIPPING SPACE ALLOTTED. AUCKLAND'S LARGE SHARE. Large quantities of butter and cheese are to be despatched in steamers leaving New Zealand for the United Kingdom within tho next two months. Space has been allotted bv the New Zealand Dairy Produce Board for 789,000 boxes of butter and 269,350 crates of cheese on steamers sailing between to-day and February 13. Of the space allocated to butter, Auckland's output commands a large share, provision being made for 547.819 boxes! or slightly over 69 per cent, of the total Dominion allocation. The cheese loadings at Auckland will comprise 42,187 crates, or approximately 16 per cent, of the Dominion total during the period under review. In the following table the allocations for butter, in boxes, are mentioned first, and those for cheese, in crates, second: —

The final ports of the various vessels are as follows:—Auckland: Mataroa, Herminius, Port Melbourne. Norfolk, Port Caroline. Wellington : Rangitata, Rotorua, Pakeha, Hertford, Rangitane, Tainui. Lyttelton : Raranga, Cumberland, Opawa. Napier: Matakana. Wanganui: Port Freniantle. l'ort Chalmers: Tairoa. Bluff: Maliana. The shipments by the Tairoa, Hertford, Norfolk and Opawa are partly for West Coast of the United Kingdom ports. LONDON DAIRY VALUES. PRODUCE BOARD'S REPORT. The New Zealand Dairy Produce Board has received the following market report from its London office dated December 24, prices for the previous week being given in parentheses:— Butter.—New Zealand, salted, 96s to 98s; extra good, 100s (97s to 100s); unsalted, 112s to 118s (112s to 118s); first whey, 90s (925) ; second whey, 88s (90s). Deliveries, New Zealand, 1926 tons (last year 1075) ; in store, 5080 tons (excludes 3500 boxes, Cornwall). Australian, salted, 95s to 98s (96s to 100s) ; unsalted, 106s to 109s (106s to 108s). Deliveries, Australian, 1925 tons; in store, 1038 tons.

Argentine, unsalted, 96s to 98s; extra good, 100s (96s to 100s). Danish, 128s, f.0.b.; 136s spot (128s, 136s to 1375). Siberian, 94s (93s to 955). Ukranian, 945.

Market quiet. New Zealand retail price, Is Id. Danish, Is 4d. Cheese. —New Zealand, white, 55s to 565; extra good, 57s (56s to 58s); coloured, 54s to 555; extra good, 56s (56s to 575). Deliveries, New Zealand, 11,801 crates (last year, 9000) ; in store, 43,500 crates (excludes 3000 crates, Tamaroa). Australian, white, 53s to 54s (58s). Canadian, white, 62s to 70s (64s to 70s) ; coloured, 62s to 68s (62s to 70s). Deliveries, Canadian, 4300 boxes (last year 2500) : in store, 202,500 boxes. English, finest farmers', 100s. Market slow New Zealand retail price, 9d.

The Rangitiki commenced discharge of clioese on December 14 and finished discharge of butler and cheese 011 December 19; the Cornwall finished discharge of choose on December 16; the Tamaroa commenced discharge of butter on December 21 and finished discharge of cheese on December 22. The Port Dunedin, which sailed on December 21, took 36,555 boxes of salted butter; 1306 boxes of unsalted ; 2061 boxes of whey butter; 15,464 crates of white cheese and 4876 crates of coloured. TALLOW MARKET QUIET. LITTLE BUSINESS IX lIEMP. The Department of Agriculture has received the following cablegram, dated December 24, from the High Commissioner for New Zealand, London;— Tallow.—The market is very quiet with no interest shown for shipment. Spot quotations are nominally unchanged. Hemp.—The market is quiet with very little business doing. Nominal quotations are:—Manila, "K" grade, for JanuaryMarch shipment, £l9 ss, sellers. Sisal: Fair average quality for DecemberFebruary shipment, £l6 15s. New Zealand, for December-February shipment, highpoints, £l9 ss; fair, £l7 ss. No first hand sales are reported.

Steamer. From N.Z. Sails. Due U.K. Akld. Tin. Rangitata . Dec. 31 Feb. 2 53,500 55,000 Raranga .. Dec. 31 Feb. 7 4f;.sr,o 50.000 3.717 13.500 Cumberland Jan. 5 Feb. 12 — 10,000 Tairda 19,000 Jan. 11 Feb. 15 32,450 48,000 4,050 19,POO Mataroa . . Jan. 13 Feb. 10 48.000 00,000 7,350 10,400 Rotorua . . Jan. 13 F eb. 18 45,000 50,000 3,500 17,600 Pakeha Jan. 16 Feb. 23 39,000 52.000 — 14,100 Hertford . . Jan. 21 Feb. 27 43.400 59.000 5,370 27.noo Matakana . . Jan. 25 Mch. 2 — 20,000 — 15,000 Rangitane . Jan. 30 Mch. 3 44,000 51,000 — 14.850 Pt. Fr'm'ntle Jan. 30 Mch. 8 30,000 10.200 Hernjiniua . Jan. 30 Mch. 9 38,000 40,000 4,000 0.000 Pt. M'lb'rne Feb. 2 Mch. 13 41,000 50,000 4 .noo m.poo Norfolk . . Feb. 3 Mch. 12 42,000 50,000 4,000 11.000 Opawa Feb. 6 Mch. 10 .— 15.000 — 21,800 Mahana .. Feb. 10 Mch. 17 — 45,000 — 10,300 Tainui Feb. 10 Mch. 18 24,000 35.000 .— 13,500 Pt. Caroline Feb. 13 Mch. 21 50,000 00,000 5,000 14,800