COMMERCIAL.

Otago Daily Times, Issue 19903, 24 September 1926, Page 8

COMMERCIAL.

DAIRY PRODUCE. The New Zealand Loan and Mercantile Agency Company (Ltd.), has received the following cablegram from its London house, under date September 22; Butter: New Zealand first grade, £8 •to £8 4s; lower grade, £6 16s to £7 10s. The market is slow. Danish, £9 4s. Cheese: White-, £4 6s; coloured, £4 4s to £4 ss. The market is firm. WANGANUI WOOLLEN MILLS COMPANY. The balance sheet of the Wanganui Wool len Mills Company for the year ended June 30. discloses a loss of £8203, which makes the accumulated defiits £22,108, there having been a-loss of £13,905 in tne previous year. The gross profit on trading account was £10,986, transfer foes yielded £2, and grazing fees £5, making a total of £10,992, Salaries, interest, etc., absorbed £10,120, advertising, rates, etc., £3477, commission, legal expenses, bad debts, etc., £2621; warehouse charges, rent, wages etc., £2774; depreciation, £145: audit fee, £52; and a small sum of £6 transferred from workers’ dwelling revenue ac count. These items total £19,195. In their report the directors say; “Th 6 year just passed has been a very difficult one for the woollen trade! Continued heavy importations of foreign woollens have made competition very keenj and this, together with the marked financial stringency experienced in New Zealand for some time, has affected trade conditions adversely throughout the country.” It is claimed that orders are now coming to hand for goods for the next autumn and winter wear from firms who hitherto have imported similar goods to those that they are now asking the company to supply. FARMERS’ AUCTIONEERING COMPANY. A" - net profit of £37,938 15s in the profit and loss account is shown in the annual re--1 ort of the Farmers’ Co-operative Auctioneering Company (Ltd.), of Hamilton, for the year ended July 31. Added to this s £1732 17s Id brought forward from last year, making available a total of £39,671 12s Id. The directors propose to allocate this amount as follows: —Interest at 6 per cent, on preference share capital and dividend at 6 per cent, on ordinary ehare capital, loading a balance of £10,939 Gs lOd, out of which it is proposed to make provision for income and land taxes and to carry the balance forward. Tbe company’s accounts were formerly made up to January 31, but last year the balancing date was altered to July 31 and the accounts were presented for a period of 13 months. TALLOW SALES NOT HELD. (Tress Association—By Telegraph—Copyright.) LONDON, September 22. The tallow sales wars not held.—A. and N.Z. Cable. LONDON WOOL SALES. (Press Association—By Telegraph—Copyright.) LONDON, September 22. At the wool sales there was a good selection of merinos and greasy crossbreds suitable for Yorkshire topmaking. Pricee were very firm for all eorts at full late rates. New Zealand “Takapo” realised 46Jd.—A and N.Z. Cable. CHICAGO WHEAT MARKET. (Press Association—By Telegraph—Copyright.) CHICAGO, September 22. Wheat: September, 1352 cents per bushel; December, 138*; May, 144.—A. and N.Z Cable. AUSTRALIAN MARKETS. (Press Association—By Telegraph—Copyright) SYDNEY, September 23. (Received September 23, at 9 p.m.) There is still, no business passing in wheat, and quotations are nominally 6s 7d, ex truck, in Sydney; farmers’ lots, 7s. Flour; For export, £l4 7s 6d, f.0.b.; local delivery, £l6 10s. Oats; Tasmanian Algerian, Be; white, 5s to 5s 3d. Maize: White and yellow, 7s. Potatoes; Tasmanian, £l2 to £l7; New Zealand, £ll. Onions: Victorian, £22; American, £23. ADELAIDE, September 23. Wheat. Growers’ lots, 6s 3d to 6s 4d; parcels, 6s 6Jd. Flour: Bakers’ lots, £ls Ss. Oats, 3a. , SYDNEY WOOL SALES. (Press Association— Bv Telegraph—Copyright.) SYDNEY, September 23. (Received September 23, at 11.50 p.m.) At the wool sales good general competition ruled and wools showing quality squalled the best prices of the week, but broad-fibred and burry wools were again irregular. Good clearances effected. Greasy msrino sold to 27Jd. _ NEW SOUTH WALES LOAN. (Press Association—By Telegraph—Copyright.) LONDON, September 23. (Received, September 24, at 0.30 a.m.) A New South Wales loan of £4,000,000 at 5 per cent., issued at 97, has been underwritten. —A. and N.Z. Cable.