COMMERCIAL.

Otago Daily Times, Issue 19316, 31 October 1924, Page 6

COMMERCIAL.

SYDNEY WOOL SALES 1 . Preen Association —By Telegraph—Copyright. SYDNKY, October 29. Tie third serie3 of wool sales has concluded. The market showed regular competition. Strong, fine wools inclined to a higher level. Greasy sold up to iQJsd. CALCUTTA TEA SALES. Press Association—By Telegraph—Copyright. CALCUTTA, October 29. • (Received October 30, at 5.5 p.m.) At the tea er.les the quality generally was poorer compared with the previous aale, and the demand was hardly so strong. The market wa3 irregular ard inclined to be easier, especially for oommon kinds and stalky sorts. Well made black loaf, Orange Pekoes, and others showed an improvement and were keenly competed for. Dusts were dearer and fannirjgs were easier. The average commonest leaf realised 13 annas 3 pice to 13 annas 9 pice; broken leaf 14 annas 6 pic© to 15 annas; ordinary common Pekoe Souchong 13 annas 6 pice to 14 annas; lowest even leaf Pekoe 15 annas 6 pice to 15 annas 9 pice.—A. and N.Z. Cable. LONDON TALLOW MARKET. Messrs Dalgety and Co, (Ltd.) report having received the following cablegram from their head office, dated London, October 29: At the tallow Bales 1310 casks were offered and 355 casks sold. Prices are unchanged, ■o ■ NEW ZEALAND DRUG COMPANY. Tre directors of Kemp throne, Proseer, nnd Co.'s New Zealand Drug Company resolved yesterday to increase the capital of the company to .0500,000 by the creation of 50,000 further shares of £2 each, and to issue to shareholders in proportion to their present holdings 60,(XK) shares at a premium of 10s per share. SOUTHERN STARR-BOW KErPT SOCIETY. Tho twenty-eighth annual meeting of the Southern Starr-Bowkctt Society will be held on Monday evening next. * In dealing with the variom groups the report states that notwithstanding heavv withdrawals in No. 3 group, three appropriations were disposed of—two by sale and ono by ballot. The premiums for the appropriations disposed of by sale realised an average price of £32 4s 9d per £IOO. The balance at the credit, of profit and loss account new stands at £1443 10s lid. No. 4 group has been in operation for two years and a-ihalf, and during tho past year £3OOO has been disposed of—£2ooo ',by aale and £IOOO by ballot. Seventyfive new shares have been issued during the year. The premiums for the appropriations disposed of by sale realised an average price of £4O 14s 6d per £IOO. During the year 75 shares were forfeited, subwriptions amounting to £44 bejng carried to the credit of profit and los3 account. The profit for the year amounts to £6C6 4s, and the profit and loss account now stands at £922 lis. The directors report that the formation of No. 5 group had proceeded satisfactorily. The first appropriation of £SOO by ballot will be disposod of at the annual meeting. RefeTenoa is made to the death of Mr R. A. Ewing. who was an active worker in tho interests of the society for a number of years. An alteration to the rules enabled the directors to grant loans to. the holders of fiO unappropriated shares, and every member in group No. 2 has now received an advance. During the year the holders of 213 shares have taken advantage of rule 115 b, and paid off their loans.