COMMERCIAL

Southland Times, Issue 23735, 6 February 1939, Page 3

COMMERCIAL

NORTHERN STOCK EXCHANGES

FREEZING SCHEDULE FOR LAMBS FIRST MUTTON PRICES ANNOUNCED There is no change in the Southland freezing schedule for this week. The first schedule for wethers and ewes has been announced, prices showing a reduction on last year. The rates for this season and last

THE WOOL MARKET ACTIVE LONDON DEMAND FOR BEST DESCRIPTIONS (Received February 4, 6.30 p.m.) LONDON, February 3. At the wool sales 6560 bales were offered, including 2798 from New Zealand, and 4609 were sold. There was a moderate selection and best descriptions met an active demand, but medium and inferior sorts were frequently withdrawn.

Quotations. —New Zealand greasy crossbred, “Blenroa,” average 9d, top price 9Jd; slipe halfbred lambs, ‘ Fairfield,” 9d to 13d. Throughout the first series 109,800 bales were offered, including 43,780 from New Zealand, and 91,500 were sold, including 38,000 from New Zealand. The Home trade brought 56,500 bales and the Continent 35,000 bales. The tendency throughout was generally steady and competition was active. Best top-making Merinos closed at from par to 5 per cent, lower compared with the last series in December. Spinners were 7|- per cent, lower, good scoured per cent, lower, brokers pieces and locks 5 per cent, lower, finer crossbred 5 to 10 per cent, lower, medium crossbred nearly 10 per cent, lower, coarse crossbred 5 per cent, lower, slipes and longer wools practically unchanged and scoured slipes 10 per cent, lower.

SOUTHLAND FROZEN MEAT COMPANY REPORT OF DIRECTORS The 57th annual report of the directors of the Southland Frozen Meat Company, which will be presented at the ordinary general meeting of the company on February 15, states that the amount brought forward from last year •was £47,488 9/4, less interim dividend £11,359 4/8, making a total of £36,129 4/8. After providing for taxation, depreciation, repairs, renewals and contingencies the net profit for the year is £21,934 1/11, making the balance available at profit and loss £58,063 6/7. The directors recommend the payment of a final dividend of eightpence on preference and ordinary shares, thus absorbing £11,359 4/8, leaving a balance to carry forward of £46,704 1/11. The directors retiring are Messrs John Gilkison and J. M. McQueen, who offer themselves for re-election. NEW SOUTHLAND COMPANIES REGISTRATION ANNOUNCED Registration of the following new companies is notified in the latest issue of The Mercantile Gazette: . TE PEKA TIMBER COMPANY LTD. Registered as a private company December 21, 1938. Office: Esk street, Invercargill. Capital: £5OOO in 5000 shares of £1 each. Subscribers: Southland, Niagara Saw Milling Co. 3125, Fortification Timber Co. 1875. Objects: Saw millers and timber merchants. KING (JOHN) LTD. Registered as a private company January 13. Office: Tuatapere, Southland. Capital: £2OOO in 2000 shares of £1 each. Subscribers: Tuatapere, J. King 1875, J. C. Guildford 100, E. K. King 25. Objects: General carriers and contractors. THE PRICE OF GOLD (Received February 5, 6.30 p.m.) LONDON, February 4. The price of gold is £7 8/7 an ounce.

AUCKLAND £ s d Bonds 1953-57 3>/ a p.c. 91 10 0 Bank of N.Z. (late sale) 1 18 6 N.Z. Breweries 2 0 0 British Tobacco (late sale) 2 9 0 do. (paid) 1 13 0 Emperor (late sale) 10 0 Mount Morgan 11 0 WELLINGTON £ s d Bank of N.Z. (Fri.) 1 18 6 Howard Smith (Fri.) 19 3 Woolworths Ltd. (Fri.) 1 3 0 Mount Morgan (Fri.) 10 7 N.Z. Insurance 2 14 9 G. J. Coles 3 17 10 MacDuff’s (ord.) 3 0 Taranaki Oil 7 6 Overseas List Woolworth’s Holdings 15 1 ' CHRISTCHURCH £ s d Electrolytic Zinc (pref.) 2 10 0 Sale Reported N.Z. Breweries 2 0 1 DUNEDIN Sales Reported £ s d N.Z. Drug 3 5 0 Mount Morgan 10 7

season are as follows: — 1939 1938 361b and under 71 7-2 371b to 421b 7-1 71 431b to 501b 7 7 511b and over 7 62 Seconds— 361b and under 7 71 371b and over 7 62 WETHERS First quality— • 481b and under 41 52 491b to 561b 4 51 571b to 641b 32 5 651b to 721b 31 42 731b to 801b 3 41 811b and over 3 31 Second quality 32 5 EWES First quality— 481b and under 21 32 491b to 561b 21 31 571b to 641b 2 31 651b to 721b 12 3 731b to 801b Il22 811b and over li 2 Second quality 11 2 —