SHORTAGE OF POTATOES

Taranaki Daily News, 12 May 1934, Page 11

SHORTAGE OF POTATOES

SUPPLY AT NEW PLYMOUTH LOW. An. appreciable shortage of potatoes has been felt at New Plymouth during the past week. For the bulk of their supplies the New Plymouth importers rely on Canterbury-grown potatoes, and the unfavourable, weather experienced there during the week has been responsible for a minor hold-up in coastal shipping. The vessel Opihi was due at New Plymouth yesterday with supplies, but is not able-to. arrive before to-morrow. Until her cargo is available, however, stocks, at New Plymouth will be very low. . “I do. not think the shortage will become severe, because we can always obtain a certain quantity of potatoes from Rangitikei,”. a New Plymouth importer told a Daily News representative yesterday. “We are certainly very short now, but everything should be all right by Monday.” WOOL SALES IN LONDON. STEADY TONE CONTINUES. By Telegraph—Press Assn.—Copyright. London M,ay 10. At the wool sales 11,667 bales were offered, including 4400 from New Zealand, and about 4334 were sold. There was fair home and Continental competition at a steady tone, but withdrawals continued on high limits. New Zealand prices: Scoured merinos,. Benohan, top 34d, average 32 3-8 d; greasy: trossbred, RK/K, 13£d, average 10|d. BRADFORD TOPS DOWN. LITTLE BUSINESS PASSING. London, May 10. Inquiry on the Bradford tops market was insufficient to test prices, but all were marked down. Following are today’s quotations and those for the three

LONDON SHEEPSKIN SALES. POOR COMPETITION RESULTS. London, May 10. At the sheepskin sales 2897 bales were offered, including 985 from New Zealand. There was a good attendance, but competition was poor.; Continental buyers were the chief operators.' About 45 per cent, of the offering was sold. Com-, pared with March 22 prices were cheapen Australian Merino combings made 74d. Cheaper clothings were withdrawn. Fine crossbreds were 10 per cent, lower. New Zealand fine crossbreds when sold were 5 per cent, down and medium and low 10 per cent. down. AUSTRALIAN MARKETS. FIRMER TONE IN WHEAT Sydney, May 11. Wheat was firmer in tone to-day, due to the improvement in overseas markets.Country sidings 2s bushel, both bagged and bulk, which is equal to about 2s 7d and 2s 8d respectively ex trucks Sydney. Flour, £ll 10s ton; bran, £4 5s ton; pollard, £5 ton; potatoes, Tasmanian £7 10s ton, Victorian £6 ton; onions, Brown Spanish £6 to £6 10s ton; maize, 3s bushel. QUOTATIONS FOR EGGS. SALES AT NEW PLYMOUTH. Wholesale prices of eggs at New Plymouth this week, with those of last week in parentheses, were:— First grade hen eggs, 2s to 2s 5d '(2s 3d to , 2s 4d); second grade, 2s Id (2s Id to 2s 24d); mixed, Is lid to 2s 3d (25.2 d to 25.3 d); duck eggs, Is lid to 2s Id (2s.to 2s Id); pullets, Is lid to 2s 2d (2s to 2s 4d). j EIGHT PER CENT. PAID. , N.Z. PERPETUAL FORESTS. The directors of New Zealand Perpetual Forests Ltd., in their report for the year-ended March 31, 1934, state that the balance brought forward from the previous year, after deducting ' dividend paid, was £14,234 15s sd. The net profits for:-the ■ year, including interest on investments, after making ' due provision .for- .depreciation, future planting and ’maintenance costs, etc., were £24,307 13s 3d, making available £38,542 8s Sd. Out . of this the directors recommend the -payment of a dividend at the rate of 3 per qen.t. for the year, which it is proposed to pay to Australian shareholders from . Sydney and the New Zealand and English • shareholders from Auckland, and. which will amount to £15,802 17s Id. 'The- directors have set aside a provision for taxation of £3900, leaving £13,739 11s ■Jd-.to be carried forward to next year. " The directors- state that The company: has, now- established 152,788 acres of for- I pst- and satisfaction, with the quality' of t,hf> work- -done has again been -favourably commented on by the visiting forest authority appointed by the trustees. j

During the year the directors have given a great deal of attention to the consideration of matters affecting realisation, and shareholders will be pleased to learn that the launching of a realisation project likely to make a strong appeal to forest owners is imminent. “The issues at stake are so great that extraordinary care is necessary to ensure that, as far as possible, all legal and other pitfalls will be avoided before launching the scheme, and for this reason the whole of the plans are being submitted to very eminent counsel before publicity is given to the proposals.”

The directors feel that the interests of shareholders in the successful realisation of the forests are so great and that the importance of developing a sound realisation programme is so vital that work in connection therewith should be regarded as a major activity of board members and an increasing proportion of their time is, therefore, being given to this task. The ■ retiring directors, Messrs. W. Fraser and Fred. C. Dewar, offer themselves for re-election. Profits and appropriations of the company over the last three years are as fol-

previous weeks:— Apl. 19 Apl. 26 May 3 May 10 Per lb. Per lb. Per lb. Per lb. Seventies . .. 39 38} 38} 37} Sixty-fours . 37-} 37 37} 36} Sixties ... .. 35} 35 35 \ 34 Fifty-sixes .. 26 25} 25} 25 Fifties .... .. 19}' 19 19 18} Forty-sixes . 14} 14} 14} 14 Forties .... .. 12 115 Hi 11}

low:— 1931 1933 1934 ■ £ £ £ Brought forward 2,181 10,579 14,235 Net profit ...... . 39,195 28,459 24,307 41,376 39,038 38,542 Dividend, 8,p.c. . 15,797 15,803 15,803 Taxation 15,000 9,000 9,000 Carried forward 10,579 14,235 13,739