NEW ZEALAND MEAT

Otago Witness, Issue 3168, 2 December 1914, Page 22

NEW ZEALAND MEAT

(From Our Own Correspondent.) LONDON, October 9. I Stocks of New Zealand mutton are in very moderate compass, and prices have shown a further advance of nearly per lb during the month. The C.C. and D. Company describes the sale of mutton “off the hooks” as very slow, the principal business being done with contractors who are furnishing supplies to the army. Lines could easily be placed with speculators, but that class of business has been discouraged. North Island sheep predominate, and command prices from s|d to s|d per lb, while ewes find a ready sale at 5d to s*d per lb. Fair supplies are afloat, but the date of arrival is uncertain. Lamb prices have been fully maintained, but the output has been small and i many buyers give preference to Scotch ! hill lambs' at the same money or less. Canterburv lambs touch 7d per lb, and are more easily obtainable than North : Islands at per lb less. I Very large quantities of frozen beef ’ have "been wanted by the Government. The French Government, too, has been large buyers. Australian beef appears to be giving general satisfaction, and crops j have latterly been far more readily sale- ; able than forequarters or hindquarters. COMPANY REPORT, i The report of the Colonial Consignment I and Distributing Company for the year to June 30 states that the profit and loss account, including £2026 brought from the previous year’s account, shows earnings of £43,797, from which must be deducted depreciation and debenture interest amounting to £14,670, leaving £29,127. The directors recommend a dividend of 6 per cent., free of income tax. on the ordinary shares, transfer of £7OOO to reserve account, making the total of that account £55,000. During the year the directors have promoted a scheme of ie ferred benefits for the staff, under which the rate of dividend paid on the ordinary j shares fixes the amount to be placed to the credit of the benefit fund in each year. The amount due for the past year is j £1670, leaving a balance to be carried I forward of £2457. !