COMMERCIAL

Timaru Herald, Volume CXXXVII, Issue 19759, 28 March 1934, Page 2

COMMERCIAL

NEW ZEALAND DRUG CO. ANNUAL MEETING. By Telegraph—Press Association DUNEDIN. March 27. The annual meeting of Kempthorne Prosser's New Zealand Drug Company was held to-day. The balance-sheet showed that the net result of the year’s trading was £48,788 10s lid, an improvement on last year’s figure of £1663. Adding to net profit figure the unappropriated balance from last year of £31.827 9s 8d and deducting the interim dividend of 3J per cent paid in September, a sum of £60,211 Os 7d was left to be dealt with. Out of this it was decided to pay a final dividend of 4 per cent, absorbing £23,320 and to make a contribution of £2.500 to the staff provident fund, leaving £34,391 0s 7d to be carried to next year. METAL MARKETS. United Press Association—B.v Electric Telegraph—Copyright (Received March 27, 9.50 p.m.) LONDON, March 26. Copper— £ s. d. Standard, spot 32 7 6 Forward 32 11 10i Electrolytic 35 10 0 to 36 0 0 Wire Bars 36 0 0 American Electrolytic: 8.0 cents per lb. Lead — Spot 11 12 6 Forward 11 17 6 SpelterSpot 14 15 0 Forward .. .. 15 0 0 Tin— Spot 237 8 9 Forward 235 6 3 •Silver— Standard, per oz 20 Fine, per oz 21 9-16 CHICAGO WHEAT QUOTATIONS. United Press Association—By Electric Telegraph—Copyright (Received March 27, 10.50 p.m.) NEW YORK, March 26. Chicago wheat quotations: May 863 cents, July 861 cents, September 87 5-8 cents. New York, cash, 983 cents. AUSTRALIAN LOANS. United Press Association—By Electric Telegraph—Copyright (Received March 27, 10.50 p.m.) NEW YORK, March 26. Commonwealth loans are quoted:— Five per cents, 1955, £96, 1957, £95/15/-; 4i per cents., £93/5/-. New South Wales Loans.—l9s7, £94, 1958, £94/2/6. Queensland Loans.—Seven per cents £106; six per cents are not quoted. DIVIDEND DECLARED. By Telegraph—Press Association AUCKLAND, March 27. The South British Insurance Company has declared an interim dividend of 1/4 a share. LONDON MARKETS. United Press Association—By Electric Telegraph—Copyright (Received March 27, 5.5 p.m.) LONDON, March 26. Cargoes show a steadier feeling on week-end overseas advices. Sellers of Manitobas are asking an advance of lid to 3d. Australians are upheld with more interest in parts. Larchbank, bulk 20/-; Troja, bags 21/41. Parcels are firm with fair business in Australian at better prices. Westmoreland 20/10-1; unnamed vessels, March shipment 21/3, April 21/6. Futures: London-April 16/9 i, June 18/1, September 18/10. Liverpool - March 4/28, May 4/4, July 4/61 October 4/84.

GRADING OF PIGS

GOVERNMENT CONTROL WANTED. By Telegraph—Press Association PALMERSTON N„ March 27. The New Zealand Pig Breeders’ Association discussed the need of Government grading and expressed dissatisfaction with the present system by which killing' companies grade according to their own standards. The opinion was expressed that if it could not get Government grading the industry might as well give up hope. The meeting resolved to take strong exception to the reports by the Bacon Curers’ Associations about the quality of pigs and considered it was sincere in its objection to raise the quality it would pay a higher premium on its own ideal type of pig. It was resolved to call for the immediate introduction of a scheme of grading under Government control with the branding of graded carcases. LONDON EXCHANGE RATES.

WAR LOAN. British Official Wireless (Received March 27, 5.5 p.m.) RUGBY, March 26. War Loan, 31 per cent. £^o3/16/3.

HIGH COMMISSIONER’S REPORT

The Department of Agriculture has received the following message dated March 24, from the High Commissioner for New Zealand, London:— Tallow. Market continues quiet at slightly easier prices. Hemp: Manila: Market quiet and unchanged. Sisal: Market steady with trade support. May-JuJy shipment sold at £l7 12s 6d. New Zealand: Market quiet and unchanged on the basis of Highpoints value £ls 10s for March-May shipment. No first hand sales reported. Apples. Mataroa apples practically cleared. “Zealandic” shipment now on market and in good condition except for some pitted Cox’s Orange. Heavy supplies of American make market slow. Current prices for Cox’s Orange 16/- to 27/6; Worcester Pearmain, 10/- to 12/-; Gravenstein, 9/- to 10/-; Alfriston, 11/-. INCREASE OF CAPITAL United Press Association —By Electric * Telegraph—. Copyright LONDON, March 26. A meeting of the Paringa Mining Company decided to increase the capital to £120,000.

BRADFORD TOPS. United Press Association—By Electric Telegraph—Copyright LONDON, March 26. At Bradford, merinos are quietly steady. Crossbreds have a slightly easier tendency. FINAL CHRISTCHURCH WOOL SALE. By Telegraph—Press Association CHRISTCHURCH, March 27. Such good clearances had been effected at the first wool sales here this season, that the final washup sale, tentatively fixed for April 6, may not not be held as an official s.le. The secretary of the Christchurch Woolbrokers Association this morning telegraphed the buyers’ organisation, now in Auckland, inquiring whether an official sale should be held. The total offering in any case is not likely to be more than 4000 bales, of mixed sorts, containing little or no super wools. SHARES. United Press Association —By Electric Telegraph—Copyright LONDON, March 26 Shares—New Guinea Gold, 6/74. N.Z. APPLES. United Press Association—By Electric Telegraph—Copyright LONDON, March 26. The Zealandie’s New Zealand apples realised:—Worcesters 9/- to 10/-, Gravensteins 8/9 to 9/-, Alfristons 10/3 to 11/-.

British Official Wireless (Received March 27, 5.5 p.m.) RUGBY, March 26. Mew York, dol. to £1 4.86 5.9n Montreal, dol. to £1 4.86 23 5,104 Paris, fr. to £1 .. .. 124.21 77 15-32 Brussels, elgas to £1 35 21.86 Geneva, fr. to £1 .. 25.224 15.79 Amsterdam, fl. to £1 12.107 7.561 Berlin, reich to £1 .. 20.43 12.851 Stockholm, kr. to £1 18.159 19.394 Copenhagen, kr. to £1 18.159 22.394 Olso, kr. to £1 .. .. 18.159 19.90 Vienna, schgs, to £1 34.581 28 Prague, kr. to £1 .. 1644 1224 Helsingfors, marks to £1 193.23 2264 Madrid, pesetas to £1 25.221 37 13-32 Lisbon, escudos to £1 110 1091 Athens, escudos to £1 375 t530 Bucharest, lei. to £1 813.6 510 Belgrade, dinars to £1 276.32 225 Rio de Janeiro, d. to mils 5.889 144 Buenos Aires, d. to peso 47.62 364 Monte Video, d. to peso 51 381 Par. Values in Pence. Bombay, rupee .. .. 18 18 3-32 Shanghai, dol — 16 3-8 Hongkong, dol * 18& Yokohama, yen .. .. 2.28 14 3-16 “Varies with price of silver. tSellers, official.