COMMERCIAL

Poverty Bay Herald, Volume LXI, Issue 18500, 12 September 1934, Page 14

COMMERCIAL

BUTTER MARKET QUIET

STORED OFFERING AT 73/-

•Business in the market for New Zealand butter ni London is at a standstill, and finest stored butter is being offered at a* low as 735, 4s lower than the market quotation for the past few days. This position' is probably caused by the anxietv of dairy companies to quit old stocks’ for balance sheet purposes. Messrs. Joseph Nathan and Company report to-day as follows: —“The butter market is stagnant at 775, due to a drag on the sale of stored stocks, finest now being offered freely at 73s to 745. Cheese, white .47s 6d, colored 44s Gel; the market is slow.”

INCREASED PROFIT MILNE AND CHOY.CE LIMITED A further increase of £1726 in net profit is shown in the thirty-third annual accounts of Milne and Choyce, Limited, Auckland, whose earnings for the year ended July 31 totalled £10,851, compared with £9125 in the previous year. The directors recommend a dividend of 31 per cent on ordinary shares and perpetual debenture stock, an increase of 1 per cent, in addition to the usual 6 per cent and 7 per cent on preference and B preference shares respectively. Follow- 1 ' ing the practice initiated two years ago, no interim dividends were paid. The directors- report that the sale of merchandise showed a definite improvement compared with that of the previous year.