COMMERCIAL.

Timaru Herald, Volume CXXXIV, Issue 18850, 13 April 1931, Page 7

COMMERCIAL.

THE LONDON MARKETS. FROZEN MEAT QUOTATIONS. United Press Association—By Electric Tel egraph—Copyright (Received April 12. 5.5 p.m.) i LONDON, April 11. The weekly quotations for the undermentioned classes of frozen meat ; are based on actual sales of whole- | sale quantities of carcases of mutton i or lamb or of quarters of beef delivered to Smithfield market and or ex LonI don stores. They are compiled by the i Quotations Committee, Smithfield. / To arrive at the equivalent ex ship I values one farthing per pound should ibe deducted from the prices quoted I below. Quotations given represent the I average for the week and are not j selected lines, but for parcels fairly 1 representative of the bulk of the shipments now on offer. New Zealand sheep.—Canterbury and North Island selected crossbred wethers, maiden ewes, 651 b to 721 b. 3(d. New' Zealand lambs; other South I Island brands, 361 b and under, 6id; | 371 b to 421 b, 6Jd; 431 b to 501 b, 63d. j Australian frozen beef. —Ox crops, I under 1001 b. 23d; over 1001 b. 2id; ox i hinds, under 1001 b. 3d; over 1601 b, 33d. Argentine chilled beef.—Ox fores, 1601 bto 2201 b, 2id; hinds, 1601 bto 2201 b, 53d. Union Steam Ship Co. The Company's ordinary capital, on which a dividend of 8 per cent was paid for the year ended September 30th 1930, is owned by the P. and O. Company. The amount of profits for the I year was £167,198, against £162,121 for the previous year. The paid up capital 1 is three millions, one million of which is in ordinary shares, the balance being ’sh per cent pref shares. The insur- ( ance fund stands at £881,840. and re- j | serve fund at £150,000. Sundry credi- ! j tors and uncompleted voyages are I stated to be £1,427,562. Payments for | new vessels and investments have a ! book value of £4,498,998. On Lloyds Register the Company is the owner of 57 steamers and four motor vessels of 227.362 tons of an average age of 14 years. Hulks, stores, etc., are worth £660.335. Sundry debtors and cash total £467.547. Pulverised Coal. Mr E. L. Denny, an English engineer who is in Australia as supervising engineer for the coal pulverising plant of the New Zealand Shipping Coy’s steamer Horatata, gave some remarkable facts concerning the use of the new by-product. An English company, whose works were planned for the distillation of oil fuel, formerly used its own oil fuel for firing its furnaces, but is now using pulverised coal costing 13/- per ton, against oil fuel costing 30/- per ton. The weekly cost of running four stills had been reduced from £l5O to £IOO. In a force re-heating furnace the cost per ton of steel had been reduced by 60 per cent since changing from hand-firing to pulver- ! ised coal firing. The quality of I pulverised coal was greatly improved recently, though a cheaper grade of I coal was now being used. The quesj tion to whether Australian coals were I suitable for the making of pulverised coal was answered by stating that a boiler plant now operating in Melbourne with an output of IO.OOOIbs of steam per hour had successfully used Victorian, Queensland, and Newcastle coal. The Horarata ran 12.200 miles from Newcastle-on-Tyne to Port Pirie, using pulverised coal. This is the ! longest non-stop run by a ship using i such coal. Speed was increased and a saving in coal consumption was shown. Ashburton Glass Works. A circular letter signed by the secretary, with statements by the former manager of the Southern Cross Glass Co.. Ashburton, and the foreman mould worker, intimates that an extraordinary general meeting will be called to discuss the winding up of the company. Although at present the company could pay 20/- in the £, the directors did not care to be responsible for carrying on the company without the sanction of the shareholders. A resolution to wind up the company voluntarily would be submitted to the meeting. The present secretary would be nominated as liquidator.