EARNINGS RECOVER

New Zealand Herald, Volume LXXVI, Issue 23488, 27 October 1939, Page 5

EARNINGS RECOVER

GISBORNE SHEEPFARMERS NO FREEZING DIVIDENDS FIRST TIME FOR SOME. YEARS [llY TELEGRAPH—OWN" CORRESPONDENT] GISBORNE. Thursday The accounts of the Gisborne Sheepfarmers' Frozen Meat and Mercantile Company, Limited, for the year ended August 31 show a net profit of £4558, which, - with the balance of £1042 brought forward, makes £5600 available. Earnings compare with £2882 in the previous year and £12,306 in 1937. The directors recommend the usual divided on mercantile preference shares and a dividend of 3 per cent 011 ordinary mercantile shares, compared with 2.} per cent in the previous year. No dividend is proposed 011 freezing shares, this being the first time for some years that it has been necessary to pass the preference dividend. It is proposed that £2OOO should be transferred to mercantile reserve account, leaving £1124 to be carried forward. The balance-sheet shows a profit in the mercantile department of £7423, compared with £9379 in the previous year. A Joss of £2277 in the freezing department compares with losses of £6179 and £4281 in the two previous years. Killings at the Gisborne works decreased by 714 freight carcases, but at Tohomaru Bay there was an increase of 34,485 carcases, the aggregate figures being the best for some years. The decline at Gisborne was due to a falling-off in cattle and pigs, while at Tokomaru Bay there was an increase in all stock except pigs. The loss in the freezing department is ascribed to a further drop in values of by-products and increased costs. The company's capital is divided into freezing and mercantile shares, which participate only in profits made by the respective departments. No dividend 011 ordinary freezing shares has been paid since 1937.

STOCK SALES

WESTFIELD QUOTATIONS AVERAGE VALUES EASIER DAIRY COWS TO £lO/15/Large yardings of both store and dairy cattle were penned at the Westfield weekly stock sale yesterday, the numbers offering being considerably above recent figures. Most of the dairy lines were of backward and rough condition and only the better quality springers and cows and heifers in milk brought forth competition. Prices were a shade lower in average, although one or two choice springers were a few shillings dearer than (he highest price paid last week. The best realisations were £lO 15s for Jersey cows in milk and Jerseycross springers. Jersey heifers sold up to J.'IO. In both seciuiis seme lines were hard to quit on account of the somewhat high reserve values. In the store section empty cows sold to £7 and honer cattle also sold fairly freely. Potter bulls were scarcer and medium lines realised £7 15s. The quotations were:— Store Cattle.—Young cows, good condition, to £7; less condition, to £4 37s (sd; others, to X:'J 17s Gd; boner and aged cows, heavy sorts, to £4 10s; medium, to £3 355; others, to £2 12s 6d; potter bulls, medium weights, to £7 15s; others, to £0; meaty killablc cows, to £7; yearling Jersey heifers, good quality, to £4 3.55; others, to £2 17s Gd; breeding bulls, to £7. Dairy Cattle.—Jersey cows, choice quality, in milk, to £lO 15s; springers, to £S ss; others, to £5 15s; Jersey heifers, choice springers, to £10; more backward, to £S; others, to £5 15s; Jersey-cross cows and heifers, choice springers, to £lO 15s; more backward, to £S; others, to £5 17s Od; Shorthorn cows and heifers, good springers, to £0 3 ss; more backward, to £7 15s; others, to £5 15s; other cows, to £5 15s.

YARDING AT CAMBRIDGE Dalgcty and Company, Limited, reports brisk bidding: throughout at Cambridge. Cattle: Fat Jersey_ and Jersey-cross heifers. £(S Gs to £7 ss; liprht fat cows, £4 to £6; heavy boners, £3 to £4 ss; empty heifers, £3 5s to £-1 ss; light boners, £2 to £3; service Shorthorn bulls, £5 to £8 ss; yearling Jersey bulls, £-1 10s to £6. Dairy cattle: Springing Jersey heifers, to £lO ss; calved heifers. £0 5s to £lO 10s; backward heifers, £5. Pigs: Heavy baconers, £3 10s to £3 16s; medium. £3 Os to £3 10s; light. £3 to £3 Os; heavy porkers. £2 lis to £2 15s; medium store pigs, 35s to 38s; best slips, 30s to 30s; best weaners, 2.5s to 30s BEEF BREED BULLS The Farmers' Co-operative Auctioneering Company, Limited, reports that competition for the most part was erratic at the Hamilton beef breeds bull sale. However, a fair clearance was effected. Polled Angus bulls sold most freely. Top price in the Polled Angus section was obtained by Mr. J. 11. Gore. Tuhikaramea, for a two-year bull which sold at 2-lgns. On account of Mr. J. Richardson, Te Akau, values for two-year Polled Annus bulls ranged from S.Vigns to 13gns, and from Mr. J. D. Matheson, from OM:gns to 13gns. Red Poll bulls were not keenly sought, inferior animals selling up to GVigns. MARKET AT PUKEKOHE [l'ilOM OUR OWN CORRESPONDENT] PUKEKOHE. Thursday Over 150 dairy cattle were received at the weekly stock sale at Pukekohe conducted by Alfred Buck land and Sons, Limited. Choice sorts changed hands at high values. An extra choico pedigree Jersey cow from Mr. T. A. Millear, Tuakau, made 21gns, while another from the same vendor realised IScns. A pedigree Jersey heifer from Mr. C. A. Willis, Pukckoho Hill, brought lOgns. There was steady competition for beef, but prices declined. A yarding of SG7 pisrs was. received. Values eased all round. Choice grade heifers in milk or close to profit made £lO 10s to £11; good, £8 5s to £10; good but backward, £0 15s to £8; small and backward. £2 10s to £5 10s; best grade cows in milk or clnsc to profit, £lO lo £ll 10s; good. £S 10s to £0 10s; good but backward. £0 10s to £7 10s; aged, inferior and unsound cows, £2 to £5 ss; medium-weight young fat cows and heifers, £8 5s to £0 ss; lighter, £5 5s to £7 10s; older fat cows. £1 Ids to £5; heavy boners, £ I 5s to £1 17s Gd; lighter, £2 10s to £3 15s; best storo cows, £-1 to £1 12s (id: others. £3 5s to £3 15s; two and a-half-year forwardcondition steers, £7 18s; yearling steers. £3 15s to £-1 IGs; choico yearling Jersey heifers. £1 10s to £5 3s; smaller, £2 to £3 15s; yearling pedigree Jersey bulls, on account of Mr. IT. W. Le Bailfy. 7gns to lOMgns; a yearling pedigree Jersey bull from Mr. R. J. Johnston. 10'',gns; herd bulls, £(> 5s to £10; grade yearling Jersey bulls, £3 10s to £7: potter bulls. £"> to £8 2s Gd. In niirs, choppers hrought £2 to £2 12s; heavy prime baconers, £3 13s to £3 ISs; medium. £3 5s to £3 11s; light. £2 18s to £3 3s; heavy porkers, £2 lis to £2 His; medium, C2 5s to £2 10s; light. £1 ISs to £2 3«; best sl-ores. £1 l is to £1 10s; others. £1 7s to £1 12s; slips, £1 2s to £1 7s: best I woaners, 17s to £1 2s; smaller, Ss to |ss; | sows with litters. £5 17s Gd to .CO 15s; sows duo to farrow, £3 10s to £G 10s; scrvico boars, 3gns to Dens. MINING NEWS GOLDEN DAWN AFFAIRS The report and balance-sheet of Go'den Dawn Hold Mines, Limited, as published in the Hr.it.u.n on October 18, was adopted at the annual meeting yesterday. The retiring directors. Messrs. J. P. Wright and D. 13. Patterson, were re-elected. YIELDS OF COMPANIES Grey River (West, Coast). —214 oz. from 91,083yd5. in 131 hours. REPORTS OF MANAGERS Golden Dawn (Owharoa).—Fortnight ended October M: Drivo south on No. 5 reef from the winze below No. 3 level was carrier! (o Kifl Reef maintained its size, but changed its character, being very mineralised for most of the distance. Assay values varied from 7s 8d to £I lis 10(1 a ton. The treatment of (ho ore from the winze has been commenced at tho Talisman Dubbo mill at KarangaiiPko.