UNITED STATES TARIFF

Sun (Auckland), Volume III, Issue 664, 16 May 1929, Page 10

UNITED STATES TARIFF

AUSTRALIAN MEMORANDUM MEAT IMPORTERS TO CONFER (Australian and N.Z. Press Associatior) Reed. 9.5 a.m. NEW YORK, Wednesday. The Australian memorandum on the proposed neAA- United States tariff rates Avas published here and created a great deal of interest. Another feature of the tariff situation will be the meeting on May 3 8 of representatiA-es of the meatimporting concerns from Australia, Canada and Argentina, for the purpose of discussing the provisions in the proposed tariff dealing Avith meat. Those assembled Avill hear reports from their special Washington representatives, who haA-e been inquiring into the matter. DALGETY STOCK SALE LARGE YARDING OF BEEF Messrs. Dalgety and Company, Limited, report ha\ - ing held their usual weekly stock sale at Frankton Saleyards on Tuesday, May 14, as under;— T here Avas a larger yarding of beef than usual, but prices were very similar to last week, excepting that heavy bullocks sold at lower values. We sold on account of Mr. A. C. Paler, a truck of prime lieaA-y bullocks at up to £l4 10s. On account of Mr. De Malmanche one truck of heavy bullocks at £l3 10s. Prime young - cows and heifers sold at up to £lO 2s 6d. Best cows made to £9 17? 6d Rough and aged cows £6 16s to £S. Light coavs and heifers £5 to £6 12s 6d. Runners at £3 2s. There Avas a moderate yarding ot store cattle which sold at late rates. Good quality store coavs £5 10s to £7 Inferior boners £3 to £4 12s 6d. A pen ol Aveaner P.A. heifers £4 7s. There was a fair yarding of sheep, but only a small entry of fats. Prime fat wethers made to 37s 4d; woolly fat lambs, 31s; 17 M.S. woolly lambs. 255; 39 M.S. woolly lambs, 24s Gd: 12S M.S. shorn lambs, 235: 52 shorn wether lambs, 225; 90 M.S. blackfaced lambs, 21s; 22 woolly M.S. lambs, 23s 9cl. On account of Estate McAlister, 309 four, six and eight-tooth ewes in lamb to Romney rams, 38s 9d; 29 aged eAves, 24s 6d; 24 cull ewes, 15s; 5 twotooth Romney rams, 12gns; 2 F M rams £3 Is.

There was a heavy yarding of fat pigs, which sold at firm late rates. We yarded a particularly fine line of fat pigs (50) on account of Ayers and Smith, Waharoa, which averaged £4 Is: prime fat bacon, ers, £4 to £4 3s: good heavy baconers, £3 5s to £3 19s: lighter ditto, £2 19s to £3 3s; porkers, heavy. £2 5.s to £2 17s 6d; lighter ditto, 25s to 30s: good store pigs, 17s 6d to 255: slips, 15s to 17s: weaners, 6s 6d to 33s 6d.

FRUIT INTERESTS GROWERS’ MEETINGS After the business at the annual meeting of the Auckland Provincial Fruitgrowers' Council, Limited, was completed yesterday afternoon, a meeting of the executive of the Auckland Tomato and Stone Fruitgrowers’ association was held. The first annual meeting, scheduled for last evening, lapsed through want of a quorum. On the fruitgrowers’ council, Mr. S. W. House, the president, was appointed to represent the council at the approaching Dominion conference. The result of the election of the executive was:—President. Mr. House; vicepresident, Mr. F. Firth; secretary and treasurer, Mr. G. A. Green; auditor. Mr. W. J. Rodger; management committee, Messrs. House, Firth, Green. Rodger and C. IT. Scott. WILSONS CEMENT, LTD. A PROFITABLE YEAR Anet profit of £80,356 is shown in the annual report and balance sheet of Wilsons (New Zealand) Portland Cement Company, Ltd., for the year ended March 31, 1929. The usual 10 per cent, dividend is recommended by the directors. It is interesting to note in regard to this company that, over the past four years, net profits have averaged little short of 15 per cent, of the paid-up capital. The balance sheet shows reserves at £75,000. On the ‘assets side freehold and leasehold land, limestone deposits, cement deposits cement works and buildings, etc., are assessed at £347,561; stocks, £76,996; sundry debtors, £76,582; Wilsons Collieries shares, £49,993; Nca\' Zealand Government bonds, £272,515. The. company has a fully paid-up share capital of £600,000. A comparison of results over the past four years is as follows: 1926 1927 1928 1929 £ £ £ £ Brought for. 52,801 54,212- 57,421 60,666 Net profits 86,411 88,208 88,245 85,586 3 39,212 142,421 145,666 146,252 DiV., 10 p.c*. 60,000 60,000 60,000 60,000 To reserve 25,000 25,000 25,000 25,000 Carried for. 54,212 57,421 60,666 61,252 Sir George Elliot and Messrs. C. Rhodes and R. E. Williams, the retiring directors, offer themselves for re-election. BYCROFT, LTD. STRONG FINANCIAL POSITION Satisfactory progress and r. very sound financial position was revealed to shareholders at the annual meeting of Bycrofts, Ltd., held yesterday. Mr. C. Rhodes presided. The chairman said it was proposed to pay the usual dividend of 8 per cent., and to issue the company’s balance of 9,250 unallotted shares paid up to £l, to shareholders, in the proportion of one share for every 10 now held. Some shareholders might wonder why a cash distribution should not be made, bu,t the company was not over-capitalised and at the beginning- of eacli financial year it Avas obliged to pay very large sums for Avheat supplies. In the past this had entailed ‘‘leaning on the bank” to some extent, although the measure of this accommodation, willingly given, became less each year. It was, therefore, thought desirable to fully capitalise the company and distribute shares instead of cash. The meeting agreed to the allocation of 175 shares to the company's manager as a bonus for his special and highly successful services during the year. Mr. G. R. Hutchinson was re-elected to the directorate. FOREIGN EXCHANGE RATES British Official Wireless RUGBY, Tuesday. The following rates on foreign exchanges are current to-day, compared Avith the cabled quotations on May 9 and par:—

DISTRICT STOCK SALES AUCTIONEERS’ REPORTS Stock auctioneers report on sales held throughout the district during the past week as folloAv: Alfred Buckland and Sons, Limited, report:—During the week A\-e held sales at Westfield, Waiotira. HelensA*ille, Turua and Tuakau, and also a pig sale at Waiuku. There was a heavy yarding of both cattle and sheep at Tuakau and average entries at other yards. The steers entered at Tuakau Avere, as regards quality and condition, equal to anything ever offered. Those sold on behalf of Mr. L. W. Reals brought from £lO 5s to £l2 10s; the Polled Angus steers on account of Messrs. Gordon and F. S. Rutherford, £lO 7s to £l2 Ss; grown steers, on account of other clients, £8 15s to £9 12s 6d; 2 to 3-year-old steers, £7 to £8 ss; yearling to 18-month steers, £5 to £6 7s Gd: bad coloured 18-month-old steers. £4 15s; well-bred 2-year-old in-calf heifers, £8 10s to £lO 10s: other in-calf heifers, £4 10s to £5 10s; other heifers, heifers, £4 10s to £5 10s! other heifers, £3 5s to £4 7s Gd: steer calves, £3 10s to £5; mixed sex calves. £2 10s to £4: coavs with calves, £6 15s to £9 10s; fat steers, £3.1 to £l3 17s 6d; heavy prime fat cows and heifers, £S to £lO ss; lighter fat cows and heifers, £5 10s to £7 17s 6d; boner and store cows, £2 to £5; empty young cows and heifers, £3 I.os to £5; best dairy cows and heifers, £l2 to £l6; second-grade, £9 to £ll 15s; others, £4 10s to £8 15s; sound-moutli eAves in lamb, £1 9s 9d to £1 11s; older ewes in lamb, £1 Is to £1 5s 9d; forward and store wethers, £1 10s to £1 33s 3d; woolly lambs, 18s 6d to £1 2s 6d: shorn lambs, 36s to £1 0s Gd. There was a full yarding of pigs at Waiuku, and they sold under keen competition at easily Westfield rates. The NeAV Zealand Loan and Mercantile Agency Company. Ltd., report:—Sales were held during the past Aveek at "VS estfield, Pukekolie (cattle and pigs), WarkAvorth, Waiuku (cattle and pigs). We also held two c learing sales. In all cases , we report god sales, with values for all classes of cattle and pigs on a par with last report. Best dairy cows and heifers, close to profit, made £ll 10s to £ls 15s; other dairy cows and heifers close to profit, £9 to £11; backward springers, £7 to £lO 10s; aged cows and inferior heifers, £3 10s to £6 15s; bulls, £o os to £9 10s, according to weight and quality; empty and boner coavs, £3 10s to £5 17s 6d: weaner heifers, best, £3 to £5; others, £1 10s to £2 15s; weaner Steers, £2 10s to £4 10s; yearling to 18months steers, £4 15s to £6 ss: yearling to 18-months heifers. £4 10s to £< los; 2 to 2&-year steers, £6 30s to £7 10s; 3 to 3i-year steel's, £7 15s to £8 15s; 4 to 41-year steers. £9 to .£9 17s 6d; grown steers, in forward condition. £lO to £3 0 17s 6d. At Pukekolie and Waiuku fat pigs sold readily, values being on a par with Westfield quotations.

CO-OP PIG MARKETING ACTIVITIES IN WAIKATO “The past month has seen a heavy falling-off in the supplies of pigs, due partly to the high scales of prices at present ruling, and partly to the shortage of supplies,” states the monthly report of the New Zealand Pig Marketing Association (Hamilton). “As is only to be expected at this time of the year,” continues the report, “there has been a heavy increase in the number of porkers handled and a falling-off in the number of baconers. Skim milk is of course getting scarce, and many farmers finding themselves short of this, put their pigs off as porkers. “Unfortunately, a number of suppliers in putting their pigs off as porkers fail to finish them off properly. This is likely to prejudice the NeAV Zealand porker on the London market, and so injure the future of the business. Every farmer is therefore strongly urged to finish his pigs off before sending them to the works. “Pigs handled during the last month total 4.567, of which 2,333 Avere porkers. The total number of pigs itoav handled this season amounts to 36,384. a figure considerably in excess of last season’s. There is still another two months to go to complete the present season, so that the number of pigs handled is very satisfactory.” CHICAGO WHEAT MARKET (Australian and N.Z. Press Association) Reed. 9.50 a.m. CHICAGO, Wednesday. Wheat.—May, 3 dollar 5 3-S cents a bushel; September, 1 dollar 12 7-S cents.; December, 1 dolar 17 5-8 cents. WESTPORT COAL DIVIDEND Press Association DUNEDIN, Wednesdav. The directors of the Westport Coal Company have declared an interim divi- I dend of Is a share, payable on Mav 30.

Montreal, dol. May 14. May 9. 4.S8 1-S Par. 4.S66 New York, dol 25.1 25.1?-. 25.22 Paris, fr. . . 124.15 124.15 ' 124.21 Brussels, belga 34.94* 34.94* 35.00 Geneva, fr. . 4.S5 5-16 4.S5 5-32 4.S66 Amsterdam, fi. 12.06 7-S 12.06 7-S 12.10 Rome, lire . . 92.65 92.65 92.46 Berlin, r.m. . 20.46.1 20.46* 20.43 Stockholm, kr. IS.16* 18.161 IS. 159 Oslo, kr. . — 1 S. 19 a IS. 159 Copenhagen, kr — IS.201 IS. 159 Vienna, sch. . 34.55 34.54* 34.581 Prague, kr. . 164 164 24.02 Helsingfors, mk Madrid, pes. 193 193 192.23 34.06* 33.99.1 25.221 Lisbon, escu. 10S 1-S - Athens, dr. . . 375 375 375.00 Bucharest, lei. . SIS SIS 25.221 Rio de Jan., mil. o 7-16 5 57-64 B. Aires, dol. . 47 5-16 47.57d Calcutta, rupee. 17 29-32 17 29-32 lSd Shanghai, tael . 291 29* Hong-Kong, dol. 231 23 3-S Yokohama, yen. Batavia, fl, , . 22 5-32 22 3-16 24.5Sd 12.12* 12.11* 12.10 ;