MEAT IN LONDON

New Zealand Herald, Volume LXXVI, Issue 23340, 8 May 1939, Page 7

MEAT IN LONDON

PRICES AT SMITIIFIELD GOOD LAMB CONSUMPTION FIRMING IN CHILLED BEEF Consumption of lambs on the Smithfield market is very good and improving, according to the weekly report of the New Zealand Meat Producers' Board. Prices for heavy-weight lambs are easier, with other grades unchanged.

The market for wethers is quiet and unchanged. With heavy arrivals prices for ewes are slightly easier. Frozen beef prices are nominal. Chilled beef is firmer with good trade on the lighter supplies. Light-weight New Zealand porker pigs are easier. Medium weights are firmer with trade generally slow. Baconers are slightly easier owing to lower prices for Continental stocks.

Following are ruling prices for wholesale quantities announced by the board, together with values ruling at the close of the previous week:— FROZEN MUTTON April 27 May 4 Per lb. Per lb. d d New Zealand — Crossbred wethers, and/or maiden ewes: Under 481b .. .. 47a 4% 40-501b .. .. 3% 37, 57-01 lb . . . . 3'/ a S'/a 65-721b .. • • 3Yt 3% Ewes: Under 481b .. .. 3/4 3 A 40-s<ilb .. • • 3 2/» 67-6-llb .. .. 2 3 A 2% G5-721b .. • • 2% 27a FROZEN LAMB Canterbury— ... Under 3Glb .. .. 6 3 A 6*A 37-421b .. .. &A 6% 43-501b .. . . 6% 6 Second Quality, average about 311b .. .. 67a «7a Other South Islands Under 361b .. .. 6 3 A fA 37-421b .. .. CVi 67. 43-501b . . .. 0% 3 North Island Downs: Under 361b .. ..6% &/* 37-421b .. .. &A 6/4 43-501b '.. . . 6Vi 6 Second quality, average about 301b .. ..6% 6 3 A North Island, first quality: Under 3Glb .. .. &A 37-421b .. .. 6Vi 6 Second quality, average about 311b 67. 67. Australian — Victorian: _ „ ... First quality, 29-3fllb 6 6/» First quality, 37-421b 6% &A Argentine (new season's) — First quality, 361b .. 6 A 6 A First quality, 37-421b 5/4 6/4 FROZEN BEEF tNew Zealand— Hinds .. .. -3% 3/. lores .. .. •• tAustralian— Hinds .. .. .. 37. 37. Crops (weights corresponding) .. .. 3 3 CHILLED OX BEEF New Zealand — Hinds 4»/ 4 47, Fores .. •• •• 2/4 3/4 Australian — . Hinds ... .. •• 4 47« Crops (weights corresponding) .. • • 8 South African— Hinds 4% 6% Fores .. • • .. 3 3/4 Southern Rhodesian — Hinds * * Fores * Argentine— v Hinds 6% 67. Fores .. • * • • 3/4 3/4 Uruguayan— Hinds .. .. •• Fores .. • • • • 3/4 3 A Brazilian — * . ... Hinds 47. 47. FROZEN PORK New Zealand— Porkers: „ First quality, 61-Solb 6% €!V4 Ditto, 81-1001b .. 6 3 /4 67a Ditto, 101-1201b .. 6% 67. Baconers, 121-160lb .. 6 5/4

BONELESS VEAL Bobby (new season's), ex store, in parcels .. 4% 4y 2 *Xot quoted. tSccond quality.

The weekly quotations are based on actual sales of wholesale quantities of carcases of mutton or lamb of quarters of beef delivered to Sinithiiekl market and/or London stores. In the caso of chilled beef the rates represent the approximate average prices realised for the week at per lb. To arrive at the equivalent ex ship values one farthing per pound should ho deducted from the price quoted above. Quotations given represent the average for the week, and are not selected linos, but for parcels fairly representative of the bulk of ship-, ments on offer.

LEWIS EADY, LIMITED SLIGHT PROFIT DECLINE ORDINARY DIVIDEND RAISED A slight decline in earnings is shown by the accounts of Lewis Eady, Limited, for the year ended March 31. Net profit at £7158 compares with £7G77 in the previous year and £5267 in 1937. With £9612 brought in, there is £16,770 available. Preference dividend and directors' fees absorb £1786. The sum of £2500 is transferred to income tax reserve and £SOO to land tax reserve. The directors now recommend a preference dividend at the rate of 6 per cont per annum for the half-year ended March 31, due on June 1, and a final dividend of 5 per cent on ordinary shares, making 8 per cent for the year. This compares with 7 per cent in the previous year and 5 per cent in 1937. This requires £854, leaving £11,130 to bo carried fonvnrd. The directors state that although increasing overhead expenses are reflected in the trading figures, the position is generally satisfactory. Finances have been further strengthened, and in this respect the company is in a strong position. Trading conditions in the latter part of the year were difficult owing to import restrictions, but the directors are fully alive to the necessity for prudent management in view of the continuance of these conditions. Thfi retiring directors, Mr. E. R. Eady, representing ordinary shareholders, and Messrs. T. L. Hames and C. K. Mills, representing preference shareholders, are available for reelection. Movements in the chief balancesheet figures compare as follows: LIABILITIES £ £ Capital .. .. 87,447 Same Mortgage .. .. 87,338 -1.359 Money on depost .. 3,fi34 —1.43!) Creditors, etc. .. 1,058 - 030 Insurance reserve .. 500 Bamo Tax reserve .. .. 8.117 +GI7 P. and L. account.. 11,180 +1.510 ASSETS Property and plant.. 71,31)1 -1,029 Investments .. .. (500 Same Debtors .. .. 10.085 -1.172 Stock .. 10.306 -088 Cash .. .. 2.859 +2.803 Total assets are £B6 lower at £95,331. Paid capital is divided into 24,530 ordinary shares of 10s each and 25,182 preference shares of £1 each.

APPLES IN LONDON NEW ZEALAND SHIPMENT LONDON. May 6 Prices of apples are firm. New Zealand apples by the Rangitiki sold as follows: —Cox's, 9s 9d to lis 9d; Jonathans, 8s to 9s 9d.