JOSEPH NATHAN AND CO.

New Zealand Herald, Volume LXIX, Issue 21162, 20 April 1932, Page 5

JOSEPH NATHAN AND CO.

POSITION IN DOMINION. REORGANISATION PROPOSALS. [FROM OUR OWN correspondent. ] LONDON, March 17. Addressing shareholders at the annual meeting of Joseph Nathan and Company, Limited, tho chairman, Mr. Alec Nathan, said it was satisfactory that the accounts of oidy 0110 subsidiary company showed a loss. This loss was in provision for exceptional taxation. The trading in that company did in fact make a profit. Dividends from investments had fallen, but all those investments were held in relation to their general trading activities, and in total, amounted otdy to about 2g per cent, of tho total assets. In New Zealand the local board had been faced with tho most difficult conditions experienced in the present generation. Business in tho Dominion, and tho conditions affecting the dairying, manufacturing and produce departments had cost tho profit and loss account a very substantial sum of money during tho jiast few years. Tho need for a complete reorganisation in Now Zealand and for consultation bei.ween a representative of tho London board and tho local directors was so pressing that he was leaving for New Zealand to undertake tho work. Australia, where the company had important manufacturing and trading interests, reported excellent results for a year of unexampled difficulties. A substantial trade was. being built up, and when Australia returned to good times ho was confident she would, they would, reap due reward. Tho net profit for the year was £52,311, which, with the carry forward from last year, gave a totqj, of £85,013 for disposal. They had paid the year's preference dividend of £55,000 and proposed to pay the 3 per cent, preferred ordinary dividend 011 April 1. They were setting aside £2500 to ineomo tax account, and would then have to carry forward into the next balance-sheet £31,513 against tho amount brought in from last vear of £32,701. THE CITY MARKETS. YESTERDAY'S AUCTIONS. HEAVY SUPPLIES OF FRUIT. Very large quantities of fruit were offered at tho Auckland City Markets yesterday, when some lines were exceptionally slow of sale. Apples and pears were difficult to quit, and showed a sharp decline in values. Delicious apples realised only Is 9d to 2s 6d a case, against 2s to 3s 011 Friday, while Louise Bons pears, which sold at 5s to 8s 6d a case at the previous sale, were disposed of at 4s to 5s a case yesterday. Similar decreases occurred in the prices of other varieties. There was a fair demand for lemons at 5s to 9s a case, but Cape gooseberries were cheap at 2d to 3d a lb. Good quality tomatoes, selling at 3s to 4s a case for the best- variety, were in fair demand. Other lines remained generally at rates prevailing last week. Large quantities of mushrooms are coming forward, prices varying corsiderably according to quality. At yestfirday's auctions, prices langed from 3d to 7d a lb. Cauliflowers from Ohakune have arrived in largo quantities during the past few days, and prices nave fallen accordingly. There are also very heavy supplies of cabbage, beans, pumpkins and kumaras, while most other lines of vegetables in season are plentiful. The demand is fair for most varieties.

A keen demand for medium supplies of poultry existed yesterday. The prices realised showed few changes from those ruling last week. There were no alterations in the prices of eggs, first grade remaining at 2s a dozen. Moderate supplies met with a good demand. Farmers' butter showed a slight increase at B£d to ll£d a lb. Prices for average quality lines were as follows: FRUIT. Apples, Delicious, Is 9d to la. 6d a case; Munroes, 2s to 3s; Jonathan, 'is to 3s; Bullarats, 3s to 4s; Northern Spy. 2s 6d to 4s; windfalls and others. Is 6d to 2s; pears, Louise Bons, 4s to ss; Packhams Triumph, 2s to 4s; Coles and Nelis, 3s to 6s; cooking pears, 2s to 2s 6d; Buerre Bosc, Is 9d to 2s 3d; others, 2s; lemons, 5s to 9s; Cape gooseberries, 2d to 3d a lb; passions, 2s to 3s 6d a case; tomatoes, local, choice, smooth, ripe. 3s to 4s; others, Is to 2s; Hutts, 2s to 2a 6d; grapes, hothouse, Hamburghs, 3d to 5d a. lb; Colman, extra choice quality. Is to Is 4d; others, 4d to 9d; outdoor, Te Kauwhata, 3s 6d to 5s a case; persimmons, 2s to 3s; mushrooms, about 3d to 7d a lb; mandnrins, Fiji, 10s to 12s a case; oranges, Island, 12s to ISs; Californian, 40s to 445; bananas, repacked, ripe, up to 15s; seconds and mediums, 4s to 10s FIELD PRODUCE. Potatoes, 3s to 4s a bag; onions, 4s 3d to ss; kumaras, 9s 6d to 10s 6d per cwt., or Is 6d to 2s Gd a bag; cabbage, 2s to 3s 6d a sack; cauliflower, 2s 6d to 3s 6d; swedes, Is to Is 3d a baK; pumpkins, 2s to 5s per cwt.; citron melons, 2s tid: green peas, 4s to 8s a bag; beans. Is to 2s; lettuce. Is to os a ease; cucumbers, 9d to Is 6d a dozen; vegetable marrows, Is to 2s 6d; water melons, 3d to 8d each; cabbage, loose. Is to Is Cd a dozen; cauliflower, loose, Is Cd to 2s Gd a dozen; celery, Gd to Is Gd a bundle; rhubarb. Is to 3s a dozen; spinach, 6d to 9d a dozen; pumpkins, loose, 3d to Sd each; radish, 6d to 9d a dozen; spring onions, 4d to 8d a bundle; carrots, parsnips, beet and turnips, 4d to Sd a bundle; Brussels sprouts. 2Jd to 23d a lb; leeks, 2d to 3d a bundle. POULTRY. Cockerels, heavy, prime. 2s 9d to 5s each; not prime, Is 6d upward; light, prime. Is Cd to 3s; not prime. Is upward; fat roosters. heavy, prime. Is Gd to 2s; light. Is 3d to Is 9d; fat liens, heavy, Is 9d to 2s 6d; light. Is to Is 6d; pullets, heavy, best, 5s to 6s; smaller, 2s upward'; light, best. 5s to 6s; smaller, 2s upward; drakes, young, prime. Is 9d to 2s 6d; smaller. Is upward; old. Is 3d to Is 9d: ducks, young, 2s 3d to 3s Cd; old. Is Gd to 23 3d.

DAIRY PRODUCE. Hen cjrcs. first quality, 2s lid a dozen; ,B grade. Is Old; C grade. Is 5J d; duck eggs, 2s l!d; T? grade. Is Old; (' grade, Is G*d; farmers' butter, Sid to Hid a lb. BROKEN HILL PROPRIETARY. NO HALF-YEARLY DIVIDEND. f 11Y TKI.EGII.U'II. — riIESS ASSOCIATION.] AYELL IN G TON, Tuesday. Tlio directors of flio Broken Hill Proprietary, Limited, have decided that no half-yearly dividend will he. paid, according to a leilcr, dated April 8, received by tho Stock Exchange Association. TALLOW PRICES LOWER. STEADY TRADE IN APPLES. Tho Department,of Agriculture has received the following cablegram, dated April 16, from the High Commissioner for New Zealand, London:— Tallow.—The market is quiet, with a little more demand on spot, but prices arc much lower. Hemp.—The Manila market is <hill and a poor demand continues. K grade, for April-June shipment is now quoted nt, buyers, £l7, and for June-August ship meat sold at £l7 ss. The Si:-al market is quiet. March-May shipment, No. 1 fair average quality, is quoted, sellers, £l4 10s. The New Zealand market is idle, with no changes since last report. Fruit.—ln New Zealand apples there is steady trade. Tho Otaio's consignment. is practically cleared. Current prices for Cox's Orange arc 14s to 16a, down to 12s for largo and small fruit ; Worcester I'eaimain, 10s lo lis; Gravenstein, 8s to 10s; Dunn';-, Favourite, Alfriston and others, 10a to 12s„