COMMERCIAL.

Southland Times, Issue 17933, 26 January 1917, Page 4

COMMERCIAL.

SALOETT & CO. The directors’ report and statement of accounts presented to annual mooting of the above company on 22rd November is now to hand. The directors' report states:—The balance-sheet shows that, after providing for bad and doubtful debts interest on debe-nture stock and debentures up to 150 th June, dividend on preference shares, ami payment of income and land taxes in Great Britain, Australia, and Mew Zealand, there remains to the credit of profit and loss account for the year. £185,K57 12/1, to which has to be added the balance brought forward from last year, viz., £208,686 12/10, making together a total of £297,5 14 5/11. In May last an interim dividend was paid at the rate of S per cent, per annum, for the half-year ended 2 Ist December, 1915, amounting to £IO,OOO, and the directors recommend that the balance of the profit and loss account for the year, viz., £ UK,857 12/1, should be appropriated as follows; —£10,000 in payment of a dividend at the rate of 8 per cent, per annum, free of income tax, for the half-year, making with above payment 8 per cent, for the .year; £20,000 in payment of a bonus of 2 per cent, for the year ended 30th June last, free of income tax; £50,000 to the Reserve Fund, thereby raising it to £650,000; £25,000 to writing down cost of premises; £IO,OOO to the Staff Benevolent Fund; and £3857 1 2/1. to be added to the General Profit and Loss Account thereby raising it to £212,544 15/11. From the General Profit and Loss Account the Directors recommend that £15,000 should be appropriated to the further writing down of coat of premises, leaving the amount of £197,514 5/11 to be carried forward. The improvement in tile season in Australia, whicli had already begun when the company's last report and balance-sheet were issued, has continued throughout the past twelve months, and the position at the present timer is broadly speaking, satisfactory over tiie whole of Australia. But the recovery must necessarily he somewhat slow owing to the reduction in stock numbers as a result of the recent drought. Mew Zealand Is still enjoying prosperous conditions in consequence of the high values of her articles of export, and prospects generally are satisfactory. LONDON MARKETS. (By Telegraph—Press Assn. —Copyright) i (Australian & NZ. Cable Association.) LONDON. January 24. Received January ,25, 6.40 p.m. Consols are. quoted-at £sl. Tallow —649 casks were offered and 504 sold. Muttoh—Fine, 57/(i; medium, 50/-; beef, fine, 56/3; medium, 50/-. The Colonial butter market has slumped with the simultaneous arrival of three steamers with 131,000 boxes of Australian and Mew Zealand. There have also been heavy arrivals at Liverpool, and more expected shortly. Australian, choice, salted, 186/- to 190/-; un.saltcd, 190/- to 192/-; Mew Zealand stilted, 192/- to 194/-; unsalted, 196/to 198/-. Danish is firm and unchanged, as production is short. AUSTRALIAN MARKETS. SYDNEY, January 25. Received January 25, 9.10 p.m. Oats —Tasmanian, 3/1 to 3/2; Algerian feeding, 2/6 to 2/8; milling, 2/10. Barley is nominal. Maize, 3/6. Potatoes. £6 to £9. Onions. £9 to £lO. ADELAIDE, January 25. ;Oats, 2/1.