COMMERCIAL.

Otago Daily Times, Issue 13999, 4 September 1907, Page 4

COMMERCIAL.

1 WELLINGTON STOCK E-XCHANGE, . (Prou Ouji Own ConnEsroKDENT.) .■ , ■WELLINGTON, September 3. ' There was a'-fair turnover at to-day's meotinS of Uio Exchange. National. Banks wore again in efcmontl, .sales boing iccortloJ at £& 83 ' "Wellington and Manawatu Railway .shares w»ri «ca,H in at SI 2s 6d, with buyers offering £2 2a at tho finish. Loyland-O'Brion shares continue to bo steadily absorbed, and , £!2'G9'was paid for a parcel.

CUSTOMS RETURNS. (Per Unitkd Press Association.)

NEW PLYMOUTH, September 3. ■ The-Customs rovenurffor August was £3975, compared with £2513 in August, 1306.

'PROPERTY SALES,

Messrs Park, Reynolds, and Co., at their, rooips, ,ycßtord.ay, submitted to auction three Walkor street properties, when the attendance, wa3. large. The first and third offered were passed in, but private business is anticipated/ as tho inquiry 'is considerable. The second lot, however, being section 18, ,block V, Dunedin, with buildings, thereon, was knocked down to Mr Maiisoor for £1235. Messrs E. L-. Macassey and Co. report having- sold;'on behalf of Mr J. J. Sundbom, the.-leaso, furniture, and effects of-the Bridge Hotol, 'Waipori, as a going concern, to Mr J. I// Neilson, of Waikaia.

COUNTRY SALES.

The Otago Farmers' Co-operative Association of New Zealand (Ltd.) reports holding its Palmerston stock sale on Monday last. There was only a medium yardmg of stock, as o vneis woro more inclined to hold ilmn to sell in tlie nieantim.o This was probably duo -to tho effect of file recent rain. At the sale on Monday there was a good attendance of fanners and lniyers from Palmerston and surrounding districts, and most oi Iho entry changed hands at prices satisfactory to vendors.

The Oiago Formers' Co-operative ' Association of New Zealand (Ltd.) reportsTmving held on Tuesday Mast a most succoaetul salo of horses, trails, harness, olc, on account of Mr' John Dunn, at tho'Crown Stables, Buic)utha.- Buyevs wcro present from Duuodin, Ooie, .Livorqaigill, Milton, Eaitangata, and all tho,aiirronhding districts. Everything was in splendid ovcW, and -there wns a fine display. The result, was that the whole of the live atcck, bujjics, etc., chMgcd hands.at satia-

fnctorv prices, The following is a. list of prices'realised:-Harness mates and gclUmgs, to £18' ponies to £21; cows; to JEB 10s; pigs, tii & 23; double buggies,-to £28 15s; single higgles, to £19; waggonettes, to £15_155; phMtonsj to f. 1C 165.; gigs, to £16; double harness, to £8 Us;..|inglo .harness, to £4 17b Cd; toys, lo £5 10s; sundries at iull m^lket fete, , • ,- ;

NORTH OTAGO FARMERS' CO- , OPERATIVE ASSOCIATION. . Tho following is the annual report of IK> Jforfh Otago i'atmers' Co-operative Associapresenting tie sixfli amine} »P°,f 1 bJance sheet, tie director's IM«d hardly remind shareholders of tlieverjr eowro drought thai has bsn experienced during $« ended, Every fsrmw in Worth by his own experience, and to his cost;, w> a " the season has been an exceptionally' trying one, oausing considerable shrinkage, m 7°turns from all agricultural. ini pastoral, un- , . dertakings. Notwithstanding the adverse.conditions obtaining during the year, tho directors are pleased to bo.able:to congratulate shareholders on,the. position (Hsclosed:.in,tlie balance sheet, -which.shows the netjeatmj)gß. to bo within £178 of .'the sum mads ftst yew. As-will : bo easily Understood, during .such a season, our travelling agents, and thj./town Istaff! have had to work harder to ttchit-ve such satisfactory results,; Shareholders •: arid clients deservo special thanks {or the'patrariago' bestowed,. without which it would havo been impossible to have done, such a volume of business. The shares allotted at 31st July numbered 7321, against 7097 the previous year. The paid-up capital is £18.159, against £17,487. 'fho amount" unpaid on shares last year was £255, whilst it is only £1431 at the present time, t and is being. reduced. During the past year', we, have paid oil the mortgage of £2220 whioh existed on our property. All our fine freehold properties: are now free of debt. We have also , had* manufactured to bur special order. a. most ujvto; date grain and seed b'.eaning machine, 'which, is giving overy satisfaction. Clients can rely on, good work beiiig done by us with this plant.' Our financial' -position 'continues healthy and, liquid; stocks, book debts, bills receivable,;, cash on hand and in the bank showing a"very good' margin over .our trading liabilities and fixed deposits.. The lattor are well spread. We have no bills under dascount. The book debts are considered good, after writing off £197.. The £600 which "'.was allocated to'doubtful debt reserve during the two previous years Temiiins intact and is deducted from the total amount of. our book debts (after, provision ./for bad debtsia made), thereby serving as a further stand-by in case of any unforeseen bad debts arising.. The atoakc of drapery,'' ironmongery, and groceries have been taken under the. supervision of outside' cxj«rt« from Cliriglohurch and Dunedin, and arc"du'ly vouched for by certificates. ■ The net' profits for the year are £3003,16s 2cl. which\ with the sum of-£913 193 3d brought forward from last year, makes a total- avnilablo for disposal of £4013 15s 6d. The directors'propose to wrile off 5 per. cent, from office furniture and warehouso fittings; ■ 10 per cent, from plant account;, pay a dividend at thereto of 7 per cent.; pay a bonus of 2i per "cent, upon shareholders' purchases of drapery, .ironmongery, and groceries;, pay a bonus of % per cent, on salaries earned by .the permanent staff; refund's per., cent, of .commifsions earned from shareholders oh grain and stock (except horses), and'2s per;cont. on'horse's; plnco £772 to 'reserve—which will: then stand at £3300,—and carry, forward tho balance. Tho directors retiring this year, ■in accordance with the articles of association, are:—Messrs Jiunes Smillio. J. Cowie Nichols, Archibald Minnes, and William Kobertson. arid being eligible, offer themselves ftjr rc-eleption. The seats of the late Matthew Morton and Johti Johnston have alna to be/filled. Messrs Geo M'Donaldi (Inchholme),' ,E. G- A. Hillo (Kaltanui), James M'Farlane (Oiunaru), Geo. Livingstone (Windsor), and John Bramio M'Culloch (Ngapara), have giyeu the necessary notico that they, aro candida'tes for seat's ■on, the board. You will be aeketl to olect six director*. You will also be ..asked to, elect two auditors,' and fix. the remuneration. Messrs G-co.iM. Bruco and Cbas, W, Oooke oie the retiring auditors, and they offer themselves for rc-olcotion:" ' '. ■ ■ ■•."-.•'-