COMMERCIAL.

Otago Daily Times, Issue 13543, 16 March 1906, Page 4

COMMERCIAL.

Daily Time' Office, Thursday ovenin». The amount of revenue collected at; the Dunedin Cusl >m Hsuse to-day on poods cleared for consumption was £1915 2? 2d.

EXPORT OF PRODUCE

Tho quantity and value of pastoral and agricultural products p?=sed through the Custom* to/ export from Sew Zealand during 11 months, ended in February, are shown by the follo'.viil!* figures, jsrprilheses indicating the tallies for tho covresnondine period of 1901-03: — Butter, 254.1f1fc.w1, X] .226.0"! !!»l.ro6ewt. £1.2.10,603): rhe?=e. 8-I.9lfWt, £200,03" (00.100-wt, £1425-17); frown beef. 143ln2ewi, £1-3.(51 (1?.0,708rwt, £]S3 240): frozen mutton. 1.217.307 erases, £919.004 (1.70.1.K18, £1,103.7*9); !c:rs and pieces !W77cv.-t, JE14,567 (29.517cw1. £28842): frown lamb. 1.5M.R57 cercascii £91!U78 (1,!52.172. wheat, 9Kl.ara bushels. £117.008 (551.696 biHliek £P4.i120): onta, 857,1!(i bushels, £83.740 (2,165.09:1 bushels, £178.110); potatoes, 247 tons, £2177 (.1582 ion=, -SWSS); hemp, 24.704 tons, £592.414 Up 1901-05 figures for hemp are not yet available.

THE MEAT MARKET

NAPIER. March 15. The C.C. and U. Compsny have received the following cable from London:—Canterbury mutton, 4.*,f1; Napier, Wellington, and North Island, -lid. Lamb: First quality. 51tl; second, tjtl. Beef: Hinds, 3',d; fores, 2Jd.

THE NEW ZEALAND DRVR COMPANY'S

ANNUAL REPORT. The report ot the directors of Kempthotnc. Prosser, a id Co.'s New Zealand Drug Company for the year ending 31st January last state 3 that the stock has been taken with special care, re-checked, and inspected. The outstanding accounts have been also carefully examined, together with the land, buildings, machinery, and plant, and full provision has been made for ail known losses. The balance brought forward from profit' and loss account last year was f'20,577 Is 2d. less dividend. 31st January, 1903 (£13.693 12s Id) end appropriation ' at that date to fire insurar.ci- account (flOOOj; leaving f14,655 12s 4d. to which lias to be added the net profit for this year (inclusive of -A'ITJ Is 4d for premiums on hew shares issued!, .416,064 3s 3d, ranking a total of £30,933 18s Id. less interim dividend for tho half-year to 31st July. 1905, £6850 10s Sd. The amount now to be dealt with, therefore, is £24,10,3, 7s sd, which it is proposed to apply as' fnlld*s:-Tn the payment of a dividend for the half-year ending 31ft January, at the rate of 7 per cent, per annum (pro rata on recent calls) absorbing £69(W lis; transfer to reserve, account (inclusive of £175 is 4d premiums on the recent issue of shares), £9175 16s 9d: transfer to depreciation on buildings (miking the amount £7000), £2)3 5s 6d; leaving a. balance t« be carried forward to next year of £7835 14s 2d. In order to simplify "the balance sheets in future, it is desirab'.e to concerttrftto some of the special reserves which have been created from time to time and which have been carried forward in the present sheet, and to establish in lieu thereof n gencial reserves account. The amounts will 09 equally available under that heading for any contingencies as in their present form. The directors, therefore, submit the following scheme of distribution, which, if approved will be given effect to in the books and appear in the accounts of nest year:—Transfer from fire insurnn:e fund, .£3726 12s 6d; transfer from stock depreciation, £7851 9s fid; transfer from customers' reserve (£3500 16s 3d, less 5 per cent, on bonk debts, £2251 Hi), £1216 Is

3d; transfer from profit and loss account, £9175 IGs 9tl; total to be carried to general reserve account, £22.000. The directors propose during the year to divide up the reserve of £-7000 for depreciation on premises and plant, and to allocate it to the lines where it is most required. Mr Kemplhorne has finally retired Ironi the noard. It has not been deemed necessary to fill this vacancy. To Mr Kempthorne's energy and capacity, unsparingly devoted to the company since its foundation 27 years ago, is largely due its prosperity and present position; and whilst regretting the loss of his valuable services and counsel, it is to be hoped he will long enjoy a weli-earned rest and relief from the cares and anxieties incidental to the active management of a largo business. Messrs 'William Brown and John Mill retire from the board, in terras of the Articles of Association, but arc eligible for re-election. The extent of the company's business, and the time and attention required in its administration, warrant at this juncture a reconsideration of the amount "voted for directors' fees. The auditors retire in the usual course, but are available for re-appointment, and offer their services accordingly. A dividend is now recommended at the rate of 7 per cent, per annum on the share holdings on the register on 31st January, and pro rata on the calls recently paid, and if passed by the meeting will be payable to colonial shareholders on and after 31st March, IVOG, at the Union Bank of Australasia (Limited), Dunedin, and at its branches throughout the colony, and to "London shareholders at the Union Bank of Australia, Cornhill, London, on receipt of advice.

MELBOURNE HIDE MARKET. MELBOURNE, March 15.

Hides showed a, decline of from Jd to Jd from last week's rates on all classes. Kips are unchanged.

WAITAKI PLAINS ESTATE DISPERSAL SALE.

(Fr.on Our Own CoKRF.sroNDJSOT.) OAJIAIUJ, March 15. The Waitaki Plains Estate dispersal sale was held to-day, and attracted buyers from ail pails of Otago and Canterbury, fully 1091) people being' present. "The arrangements for the sale had been well made, and llie auctioneering was in the hands of Messrs Dalgety and Co. (Oamaru) and Payne and Co. (Christchurch). The sheep were brought forward in good order, and prices generally marked an advance on rates ruling tinting (he past few weeks. Two-tooth halfbred ewes brought 19s 3d to 19s Gd; four-tooth, 22s 5d to IBs 4d; six-tooth, 2-ls 2d; and eight-tooth, 18s td; tv.-n-tcotji crossbred ewes, 20s fld to 21s 3d; four-tooth, 22s to 22s <ld; six-tooth. 20s Gd to 21s 3d; eight-tooth, 17s 3d to 30s Id; and full-mouthed, Us Gd; six and eight-tooth merino ewes, 7s 3d to IDs. A dock of rams sold at up to 3Jgs for four-tooth Border Leicesters. Jlalfhred ewe lambs brought 13s 7d; halfbred wether lambs, His Gd am) 10s lOd; crossbred ewe lamb', 12s 8d; crossbred wether lambs. 10s -Id to Ids ftd; fat lambs realised 15s; Shropshire cross lambs, 10S; fat and forward four and Fi::-tooth wethers, IDs sd; twn-foofh halfbred wethers. 14s 7d. Cattle brought £1 12s for 18-month-old shorthorn steers pud heifers and. £1 2s for three-year-old shorthorn heifer? with calves at foot; cows in ffiilk and at calving, up to £5 ss.

HIDE SALE,

The Otfgo Farmers' Co-operative Association of New Zealand report as fellows:—We held oi'r fovli'.igtitly sale of hides on Thursday at our storm, Cvawfcrd street, when there was it full attendance of buyers. Our cnlulogno consisted of some ,151) bides, made up chielly of medium and light quality, all of which were in good conditio!!. Bidding was very brisk, and prices realised were slightly in adVance of our i-.ist sale. We qwiie: Extra heavy ox, C;! 1o 7id; heavy, iijd to 6Jd; medium aid lo Old; light, 5.', dto 53d; heavy cow. !ijd to s?d: medium cow, 5Jd to sid; light cow, .id to 55d; bull hides, 3jd to 4jd; v-vsrhngs, to 5d per lb; calfskins, '2s b'd to 7s Cd each.

Messrs Waters, Ritchie, and Co. report having held their usual fortnightly sale of hides at (heir stores. Crawford street, yesterday afternoon. There was the usja] atemhnco of buyers, and competition was active throuehoul the pale. Prices, as compared with the previous sale, ruled much about the same, medium weishts occasionally slightly lower. We topped the market with a bide which broiulit 7i(! per lb on account of Mr Win. Grirdlcy (Albany street). We also topped the market with light weights, scouring 53' d for a line of 3 cows, averaging 391b each. We offered. '11l bides and calfskins, and cleared the lot at tho following range of values: — Prime stout ox. B.UI to 7!d: heavy do, Cd to G3d; medium do, SJd to fid: light do, SJcl to 5Jd; heavy cows. 5Jd to 5Jd; medium do, iijd to 55d: light do. sjrj to iSJd: stags and bulls. 4d to 43d; yearlings. tSd to ojd per lb; calfskins, from 2s to Cs Cd each.