COMMERCIAL.

Otago Daily Times, Issue 19014, 9 November 1923, Page 4

COMMERCIAL.

S. MANNING AND CO. (LIMITED), 'Shareholders in S. Manning and Company (Limited) have received an interim dividend for tho half-year ended September, at the rate of 10 per cent, per annum. The directors in their report state:—Sines tho fortyfirst annual balance sheet and report in April part of the company’s assets—viz., land and buildings (Christchurch brewery and malthouses, plant, stock, and goodwill have been sold to the New- Zealand Breweries (Limited), for £78,616. This amount was satisfied by a cash payment of £22,887, the allotment of 10 per cent debentures guaranteed for three years, amounting to £35,1-39. and fully paid up shares amounting to £10,890. The company’s shares are now fully paid up, 120,000 shares of £1 each, in accordance with the scheme adopted by the shareholders of tho company. The only liability of the company, exclusive of capital, is £6OOO. The profit and loss account shows a credit of £11,201 Is sd, out of which the interim dividend is being paid, and £2OOO is set aside to meet income tax. CALCUTTA TEA SALES. Press Association—By Telegraph—Copyright DELHI, November 8. At tho Calcutta tea. sales the market for better grades, including tannings, was easier, in sympathy with the labour market. For other classes and dusts, which were half an anna dearer, thero was a slrong demand at firm rates—A. and N.Z. Cable. LONDON WHEAT MARKET. Press Association—Bv Telegraph—Copyright LONDON, November 7. (Received Nov. 8, at 5.5 p.m.) Cargoes arc firm on the adverse American exchange, with fair inquiry. Parcels are in good demand, and have firmed from 6d to 9d. —A, and. N.Z Cable NELSON BROTHERS. Press Association —Bv Telegraph—Copyright LONDON. November 7. Nelson Brothers’ divisible profits are £93,381. The amount carried forward is £44,942. —A. and N.Z. Cable. THE TALLOW MARKET. Messrs Dalgety and Co. report having received the following cable from their head office, dated London, November 7; At the tallow sales SSO casks of tallow were offered and 655 casks sold. Prices were unchanged to 6d per cwt dearer. The advance in prices is chiefly on good lo superior qualities. There is more demand for low and inferior descriptions. LONDON WOOL SALES. Press Association—By Telegraph—Copyright LONDON, November 7. (Received Nov. 8, at 9.20 p.m.) At the wool sales merinos were in very small supply, but thero was an average selection of all classes of Prices were firm all round, with a hardening tendency for slipes, which arc now 5 per cent, above the opening rates. New Zealand “T. 8.5.” (Canterbury) realised 28d and “C.M.C.” 224 d.—A. and N.Z. Cable. SOUTHLAND POWER BOARD LOAN. Press Association—Bv Telegraph—Copyright LONDON, November 7. (Received Nov. 8, at 9.30 p.m.) The Southland Electric Power Board W issuing £750,000 worth of 5 per cent, debentures at 99. The loan has been underwritten. —A. and N.Z. Cable. LONDON TALLOW SALES. Press .Association-—By Telegraph—Copyright LONDON, November 7. (Received Nov. 8, at 9.20 p.m.) At the tallow sales 882 casks were offered, and 761 were sold at par to an advance of 6d. Mutton realised 44s to 395, and beef 43s to 39s. —A. and N.Z. Cable. NORTHERN EXCHANGES, ipsu Lnitf.p Pnrsa Association.} The following business was done on 'Changes yesterday; Auckland.—Sales: War Loan (1927). £9B; Breweries, £lo*2; Bank of New Zealand (new issue), 49s 9d; Union Bank, £l4 17s sd; Auckland Gas (old issue), 25s 3d, 25s 6d (new issue), 3s 4d; Waihi, 26s 2d; Grand Junction, ss. Wellington.—'Sales reported; War Loans Inscribed Stock, 6 per cent. (1926), £lOl.