COMMERCIAL.

Otago Daily Times, Issue 19069, 15 January 1924, Page 6

COMMERCIAL.

BUTTER AND CHEESE. The South Island Dairy Association has received the following cablegram from the New Zealand Produce Association, London; Tho butter market is quiet and steady at 212 s to 2145; Danish, 222 a. Cheese is steady. Both colours, 102 ato 104 s; Canadian, both colours, 104 stb 110 s. Palmerston stock sale. The monthly stock eale was held at Palmerston last Friday, when an average all round yarding was offered. Biddingwas slow, and only good lines were keenly competed lor. ■«>■ 1 - LONDON WOOL SALES. The Otago Farmers’ Co-operative Association of New Zealand (Ltd.) are in receipt of cable advice from their London office dated January 12, as under: At the Bawra wool sales held at Hull today the market was very excited. All crossbred wools were 10 per cent, to 15 per cent, dearer. Messrs Dalgety and Co. (Ltd.) report having received the following cablegram from their head office, dated London, January 11: At the Bawra Hull wool sales prices were on the average, as compared with lost series’ closing rates, crossbreds generally 10 per cent, higher.

Scott Bros., produce merchants and commission agents, agents for the Egg and Poultry Growers’ Association, Dunedin, report as follows: —Eggs; Tne market is steady at preserving rates. Butter; Dairy pats, Is 3d per lb. Honey; Slow; prime clover, bulk, 4d to 4(d per lb; 101 b tins, 5s 6d each. Beeswax, Is 6d to Is 7d per lb. Fat, 20s to 23s per cwt. Poultry; Hens, 8s to 3s 6d per pair; roosters, 3s to 3s 6d per pair. Ducks, 5s to 6s per pail. Geese, nominally £s per pair. Turkeys: Hens, Is per lb; gobblers. Is .per lb. Pigs; Baconers, 7d pel Tb; porkers, 7ld per lb; over-weighis, 4d per lb. Potatoes- New season’s, plentiful; Oamaru and Outram, lid per lb. Onions: New season’s Melbourne, 11s per cwt. Chaff; Wanted; prime oaten sheaf, £6 per ton, sacks extra; medium quality, £4 5s to £5 per ton. Oats, 3s 3d per bushel, sacks extra. Whole fowl wheat, 5s 9d per bushel, sacks extra. Straw: Pressed wheaten. £3 15s; oaten, £4 10s per ton, ex store. Please note: rigs and poultry must arrive not later than Thursday mornings. Wo can supply petrol, motor lubricating oils and greases, lucerne end poultry meal, bulled oats, shell grit, Pareora meat .meal, leg rings, toe punches, charcoal, wire netting, Star brand chicken food and Champion egg crates. January 14 NEW ZEALAND LOAN AND MERCANTILE AGENCY COMPANY. A GOOD YEAR. (From Oue Owu Correspondent.) LONDON, December 4. Th© twenty-ninth annual report for the year ended June 30 last, issued by the directors of the New Zealand Loan and Mercantile Agency Company (Ltd.) is just out. The result of the year’s trading in Australia has proved satisfactory, and the position in New Zealand has shown a marked improvement. Dry conditions were experienced over a large part of Australia, wiwi consequent losses of stock and a smaller wool clip. An active demand, however, prevailed particularly for merino, prices for which were maintained at a high level, and market prospects are favourable. The production of butter and cheese in New Zealand is on a very large scale, the previous record being far exceeded. After paying interest on the first and second mortgage debenture stocks and making provision for bad and doubtful debts and other contingencies, there remains a balance of £92,582. The interim dividend on the preference stock paid last June has absorbed £25,000 of this —leaving £67,582 —to which has been added £18,448 brought forward from last year. The directors now recommend a final dividend of 2t per cent, on the 5 per cent, cumulative preference 6‘ock (payable less income tax), absorbing £23,000, and a dividend of 4 per cent, free of income tax, on the ordinary stock, absorbing £40,000. The balance left to be carried forward will be £21,034.. The directors referred with much regret to the death of Mr Warrington Laing, who joined the board of the company in 1902, and who was elected chairman in 1912. He had had extensive experience and was possessed of a wide knowledge of New Zealand and Australian business matters. He devoted much time to the affairs of tho company, and the directors feel that by his death they have lost a most valued colleague. His successor is Mr Alfred Shepherd. Regretful reference is also made to the death of the Hon. Sir William Fraser, K.C.V.0., M.L.C., for many years of the New Zealand Local Board. Mr Clive L. Baillieu has been elected a director in the place of the late Mr Warrington Laing, and Ml William Murray has been elected additional to the board. These two gentlemen have resided for many years in Australia and New Zealand respectively, and there is no doubt that their local knowledge will bo of groat value to the company. It is noted that Mr Hugh M. Boss has been appointed to a seat on the Australian Local Board.