COMMERCIAL

Timaru Herald, Volume CXXXIX, Issue 20098, 3 May 1935, Page 5

COMMERCIAL

HOLME STATION SALE SMALL ENTRY Although the entry was lacking in numbers, yesterday’s Holme Station sale was an excellent one. Fat sheep and lambs were in keen demand and store lambs were also wanted. The enquiry for ewes showed no sign of slackening in spite of the fact that the quality was not of the best. Prices were:— Fat Sheep and Lambs.—Fat ewes 11/7, 12/7, 15/4, 17/10, 18/-; fat lambs 16/10, 19/}. Store Sheep.—Failing mouth ewes 8/- to 10/11, aged ewes 1/9 to 3/9, 2tooth ewes 28/-; ewe lambs 14/6 to 16 6. Dairy Cattle.—Two springing cows, £4/10/- each. FROZEN MEAT SHIPMENTS TO BRITAIN The New Zealand Meat Producers’ Board is advised by its London office that the shipments from Australia and South America to the United Kingdom during the first half of April were as follows: Australia. Carcases mutton 37,772 Carcases lamb 107,425 Quarters beef 12,073 South America. Carcases mutton 95,731 Carcases lamb 198.752 Quarters beef (frozen) .. .. 646 Quarters beef (chilled) .. .. 198,928 Included in the South American figures are 139,050 carcases of lamb and 86,500 carcases of mutton shipped from Patagonia. The shipments from New Zealand to the United Kingdom for the same period were as follows: Carcases mutton 183,004 Carcases lamb 524,882 Quarters beef (frozen) .. .. 6,960 Quarters beef (chilled) .. .. 1,039 A.M.P. SOCIETY The aggregate increase of £2,345,395 over the previous year in the business of the Australian Mutual Provident Society revealed in the annual report the trend of the times and the gradual return of increasing prosperity, as well as a general recognition of the great value of life assurance. Payments totalling £6,203,141 were laid in 1934 either to members or their representatives, making the amount since the establishment of the Society over £126,000,000. \ The cash allotted for bonus additions to policies for the year was £2,701,222 in the ordinary department and £288,312 in the industrial department, the reversionary bonus equivalent to these amounts being £4.577.000 and £390.000 respectively. These figures represent a cash increase of £122,092 over the previous year’s results, and in the ordinary department show a re- «, turn to policy-holders of 47 per cent. of the participating premium revenue Z received. It is understood that the individual bonuses to be alloted will, generally speaking, be at a slightly higher rate than those granted for the past two years. The cash bonuses allotted by the ' Society since its inception now amount 1 ; to £60,297,859 in the ordinary department and £2,808.686 in the industrial department. The total assets of the Society have Increased to £97,352,519 and the busi- * ness in force on the books, inclusive ;; of bonus additions, now totals £279.001.012, a net increase for the year’s transactions of £9,487,367. The Society estimates its liabilities under the whole of its policy contracts on the assumption that an interest rate of only 3 per cent, a year will be realised in the future. As, however, a rate of £4/8/2 per cent, has been realised for the past year, it is apparent that a very strong reserve is thus addition, the Society’s office premises, together with other assets, have been further written down, the book value ~. showing at a figure far lower than the , present market value of the securities. The Society has £17,500,000 invested in New Zealand and over 166,000 policies are now in force on its New Zealand registers. LEAD PRODUCTION In spite of a lower output than in the previous year, Australia retained in 1934 her place as the second largest producer of lead in the world, a ranking obtained in recent years since the depression in metal prices enforced a curtailment in Mexico’s production. The price of the metal last year followed a course disappointing to the producers. The highest quotation in London was £ll/16/3 in February, but the improvement was not maintained and the price fell to £lO in October. Mr Colin Fraser, chairman of the South Broken Hill Coy. stated that the advantage of the Australian exchange made the production of lead an economic proposition. United States continued to be easily- the world’s largest producer and accounted mainly for the year’s estimated increase of 150,000 tons in total production. Canada and Mexico also increased their output. United States produced 330,000 tons, Australia 190,000 tons. Mexico 165,000 tons, Canada 150,000 tons. The Australian increase from 126,000 tons ten years ago to 190,000 tons in 1934 is largely due to developments at Mount Ida in Queensland. • PLACER DEVELOPMENT, LTD. An arrangement has been entered into between Placer Development, Ltd., and Bulolo Gold Dredging, Ltd., whereby it is agreed that the former company discontinue prospecting in the mandated territory of New Guinea and in Papua and that the Bulolo Gold Dredging. Ltd., will follow up for joint equal account and benefit for both companies any future opportunities in that territory except those properties continuous to the Bulolo Company’s present holdings which will be prospected for the Bulolo Coy’s, sole benefit. The present options held by the Placer Company in New Guinea will ‘ be taken over by the Bulolo Company for a cash consideration equal to the amount expended on them. Should any of these options be exercised the Bulolo Company will recompense the Placer Company at a price agreed upon by both companies. DAIRY PRODUCE The New Zealand Loan and Mercantile Agency Co., Ltd., have received the following advice from their London house dated May 2:— Butter.—77/-, 78/-. Cheese. —White 43/6, 44/-; coloured, 40/ -. 45/6.

DIVIDENDS PAYABLE Bank of New South Wales, 5/a share (Australian currency) May 29 Bank of New Zealand, final, 5 per cent June 15 National Insurance, interim, 4d a share May 15 Dalgety and Co., 21 per cent., half year May 17 N.Z. Paper Mills, final, 4 per cent May 20 National Bank of Australasia, 21 per cent, half year .. May Zealandic Soap Coy., final, 3 per cent May 9 Farmers’ Trading Coy., Auck land. 7 per cent, prefs. .. May 31 Mosgiel Woollen Coy., 4 per cent, interim May 13 Broken Hill Proprietary, 1/a share (Australian currency) May 15 Broken Hill South, 1/6 a share (Australian currency) .. June 15 Sharland and Co., interim, 2i per cent, all shares .. .. May 10 AUSTRALIAN MARKETS United Press Association—By Electric Telegraph—Copyright (Received May 2, 7.25 p.m.) SYDNEY, May 2. Wheat. —The market is very quiet. Quotations at country sidings are 2/Bb, which are equal to 3/31 for bagged and 3/41 for bulk, ex trucks, Sydney. Flour —£11/10/- a ton. Bran and Pollard—£4/15/- a ton. Potatoes —Tasmanian £8 to 9; others £6 a ton. Onions—Victorian Brown Spanish, £lO. white £l4 a ton. Maize—Yellow and White 3/8 a bushel. ADELAIDE. May 2. Wheat.—Growers’ lots, new crop, 3/2 a ton. Flour—Bakers’ lots, £l2 a ton. Bran—£s a ton. Pollard -£5/2/6 a ton. Oats —Algerian, 1/10 a bushel. Barley—2/7 to 2/8 a bushel. LONDON STOCK EXCHANGE OPEN. United Press Association—By Electric Tel egraph —Copvrigh t LONDON, May 1. The Stock Exchange was open today for the first time on May Day for 134 years.