COMMERCIAL

Poverty Bay Herald, Volume LXIV, Issue 19332, 24 May 1937, Page 11

COMMERCIAL

LONDON MEAT MARKET

LAMB PRICES HIGHER

STEADY TRADE FOR WETHERS

(Per Press Association.) WELLINGTON, this Jay. Higher price* for lamb, better trade for. wether mutton, an upward move in chilled beef and higher rates lor heavy porker pigs are reported by the Meal Board in its week-end report, wnicn states - :—

'■Lambs.—Supplies are meeting with a good demand, with prices higher. "Mutton.—The market for wethers is steady, with better trade. _'l be ewe trade' is slow, with prices easier.

»Bcef.—The market for chilled beef is very firm, with prices again higher.

"Pork—For New Zealand porker pigs trade is slow, with prices for heavyweights better. For New .Zealand baconer pigs, the market is better. The following quotations are average prices of representative wholesale quantities sold during the week: Frozen Mutton New Zealand crossbred wethers and maiden ewes.—4Blb. and under, 5Jd (5Ad); 491 b. to 561 b.. 4|d (43d) ; 571 bto 641 b.. 4!d (4|d)- 651 b. to 721 b., 4]d (4VI). , ' , New Zealand ewes.—4Blb. and under, 4gd (42d) ; 491 b. to 56ib., 3'd (3Jd) ; 571 b. to-641b., 3gd (33d); 651 b. to 721 b., 3id(3ld). Frozen Lamh

Canterbury.—-361b. and under, ?id (7d); 371b.* to 4211)., 6? (61*1) : 431 b. to 501 b.. 6Jd (6jjd); second quality, average about 311 b.. 6?d (6ijd). Other South Island.—-361b. and under, 71 d (7d)j 371 b. to 421 b.. 6?,d (6*d); 431 b. to 501 b., 6.Jd (6^d). North Island Southdown?.—36lb. and under. 7Jd (7'd); 371 b. to 421 b., 6|d (6|dl ; 431 b. to 501 b., (6gd); second quality, average about 301 b., 7jd (71d). Other North Island—36lb. and under, 7d (7d); 371 b. to 421 b., 6|d (6jjd) ; sec ond quality, average about. 311 b., 6|d (6|d). Australian.—Victorian, 291 b. to 361 b., 6|d (6|d); 371 b. to 421 b., 6*d (64d). Argentine.—36lb. and under, 6gd (6|d)j 371 b. to 421 b., sjjd (s|d). Frozen Ox Beef New Zealand and Australian.—Not quoted. Chilled Ox Beef

New Zealand.—Hinds, s;jd (sd) ; fores, 4id (4d). Australian.—Hinds, s|d (sd); crops, 4gd (4Jd). [Jnion of South Africa.—Hinds, (5Ad); fores, 4|d (4d). Southern Uhodesian. Hinds. s|d (43d); fores, 4d (33d). Argentine.—Hinds, Gjjd (6/jd); fores, 4fd (4^l). Uruguayan.—Hinds, 6d (sgd); fores, 4|d (4id)'. ' Brazilian.-lliuds, s|d (5Jd). ■ Frozen Pork

New Zealand.—Porkers, 611 b to 801 b, 6gd (6£d); 811 b to 2001 b, 6gd (6id)j 1011 b to 1201 b, 6|d (6|cl). ISaconers, 1211 b to 1601 b. 6id (6.V1).

The Bank of New Zealand advises receipt of the following cable advice from London as at the close of business last week:—"Wethers.— The market is steady. Ewes.—There is a moderate demand. Lambs.—There is a good demand and prices are 'firm. 'Trade generally is brighter, with a belter demand. Quotations.—Wethers, light. 4gd to Sid, heavy 3£d to 4Jd ; ewes, 3jjd to, 4|d. Lambs, twos 7d to 7td. eighths 6|d to 6|d, fours 6|d to 6Jd, seconds 6|d to 7d."

RETAIL PRICES

N. Z. MEAT IN LONDON

The New Zealand Meat Producers' Board has been advised by its London manager that the following retail prices wore being quoted for New Zealand lamb and mutton retailed in London during April, 1937, these, prices representing a fair average of the prices quoted by the better class shops in London for the best quality of New Zealand lamb and mutton':

New Zealand lamb.—Legs, 12d per lb.; shoulders, lid ; loins, lid ; necks, 6d ; breasts, 3d; fo'requarters, B£d; hindquarters HidNew Zealand mutton, wethers.—Legs, 3d; shoulders, Bd, loins, 8d; necks, 4d; breasts 2d.

N:Z. PAPER MILLS

-NEW POWER UNIT OPERATING

The thirty-second annual meeting of shoreholders of New Zealand Paper Mills, Limited, was hold in Dunedin on Friday. Mr. C. AV. Rattray presided. The net result of the year's trading at £9773 was £1990 lower than that of the, previous period, and Mr. Rattray indicated that this was due to higher manufacturing costs and a. restriction of output pending additional power from the new steam-turbo generator. This further power unit had come into operation last week.

Mr. T. Somervillo was reelected to the directorate.

FARMERS' TRADING CO

NET PROFIT £104,25G

-A record trading year is revealed in the accounts of the' Farmers' Trading Company, Limited, Auckland, for the year ended March 31. After allowing for depreciation and contingencies, net profit reached the. new high level of £104,236, an increase of £42,770. The company's sales direct to the public also constitute a record, having reached the huge total of .£1,890.553. The directors stale that sales ligures since the balance strongly suggest that the current year will exceed this figure*. A dividend at the rale of 7 per cent per annum is recommended on ordinary shares, against 5 per cent last year. In addition, the usual preference dividend on A, P>, and G preference shares will be paid on May 31. The total dividend requirements absorb' £3B.SGO.

The report states that the directors decided on February 26, 1937, to raiso further ordinary capital at a premium of Is a share, and such was the confidence of the public in the company tnat on the closing date. April 7. a, total of £179,649 (worth of shares, (had been applied for. The- object of the issue was to onitble the company to reduce as far as possible its deuosit money.

The balance-sheef shows paid-up capital at £723,582. which is an increase of £207,531 on last year.