COMMERCIAL

Poverty Bay Herald, Volume LIV, Issue 16653, 24 May 1928, Page 3

COMMERCIAL

KAURI TIMBER CO. (Per Press Association.) AUCKLAND, last night. The Auckland office of the Kauri Timber Co. has received' the followingcable message from its head office, Melbourne: "The directors regret to have to report that in consequence of the continued depression in trade precluding full-time working! at the mills, the profits for the six months ended February 29 barely covered expenses, and under these circumstances they did not feel warranted in paying an interim dividend." FARMERS' TRADING CO. AUCKLAND, last night. The annual report of the Fanners' Trading Go,, Ltd., states that the net profit for the' year is; £42,561. Th& directors recommend dividends of 6 per cent, on A and B preference shares, and ; B"per cent, on ordinary shares.

EXPORT MEAT PRICES.

WELLINGTON, .last night.

The New Zealand Meat Producers' Board advises that the following prices were being offered for fat stock for export at May 21: — Canterbury.—Prime, woolly lambs 361bs. and under, 11M; 37-421b5, 5l 431b s and over, 10|d; second quality lambs, 10|d. Southland.-—Prime, woolly lambs, 361bs and under, ll|d; *37-421bs, 10fd; 431'bs and over, 9|d; second quality lambSj 10|d..

Murray, Roberts and Co. are in receipt of the following cable message from their. London House under date 22nd inst:— "Sales closed with good tone. Compared with last' London sales, closing rates, crossbred, greasy half bred and comeback best descriptions, no material change; other 1 descriptions declined 5 per cent.; fine and medium declined 5 per cent.; coarse and lambs, par to 5 per cent, decline; crossbred scoured, advanced a shade; lambs, slipo par* to 5 per cent, decline;' best descriptions show least decline; slipe. crossbred other descriptions no change. Current prices was as follow: 60/64's, N.Z. merino yielding 48 percent.,, 24Ad; 56's yielding 60 per, cent., 25id; 50's yielding 65 per cent., 23d; 44/46's prep, yielding 74 per cent., 19d; 44/46's carding yielding 72 per cent.', 19d; 40/44 j s yielding 73 per cent., lSd;'36/40's yielding 75 per cent-, 17^-d."

Dateety and Co. have received the following cable message from their head office, London, dated 22nd insfc.:—"The London sales closed active with brisk competition. Continental buyers were the principal operators, and there was also an active demand from the Home trade. As compared with the closing rates of last series, the prices are.' as follow:—Greasy merino, Id to l|d lower; scoured merinos, change if. any is in favor of' buyers; greasy half bred, Id -to Igd lower; greasy crossbred, fine |-d to Id lower, medium par to Id lower, coarse par to Id lower; crossbred pieces and bellies, £d lower; scoured crossbred, •unchanged; slipes, combing, fine l£d to 2d lower, other descriptions par to Id lower; lambs, crossbred* Id to l£d lower. A total of 100,700 bales were offered, of which the .Home trade bought 29,500 bales. The Continent bought 49,500 bales, America 1000 bales, carried forward 33,000 bales, of which 19,500 were not offered; total sold, 80,000 bales. Quotations for super wool .were largely nominal. The following is & range of prices realised at tht first sales of the pt'esent series: Merino, good to super 27£d, low to medium 22d to 26^-d; half bred, 56/58's, good to super 28d to 30d, low to medium 23d to 27d; halfbred, 50/56's, good to super 25d to 27d, low to medium 21J,d to 24£d; fine "crossbred, 48/50's, good to super 22£d to 24J,d, low to medium- 19d to 22d: fine crossbred, 46/48's, good to super 21£d to 23£d, low to medium 18|d to 21d; crossbred, 44/46's, good to super p 20J,d to 221(1; low to medium 18d to 20d; cross-; bred, 40/44's, good to super 19|d to 21d, low to medium 17£d to 19d; coarse crossbred, 36/40's, good to super 18£d, to 19J,d-, low to medium T7d to 18d."