COMPANY AFFAIRS.

Star (Christchurch), Volume LXVI, Issue 20484, 10 December 1934, Page 9

COMPANY AFFAIRS.

Gear Meat Report for Year. DIRECTORS' STATEMENT. The directors of the Gear Meat Preserving and Freezing Company of New Zealand, Ltd., report for the year ended November 30 as follows; The proposals adopted by shareholders to reduce the capital of the company were carried out during the year and the capital now appears in its altered form. Including the amount brought forward, and after making allowance for depreciation and payment of interim dividend, there remains a balance of £20,534 12s 7d, which the directors recommend for appropriation as follows: In payment of dividend of 7£d per share out of trading profit and lid per share out of interest on investment for the year ended 30th ultimo, less interim dividend of 3d paid in June, £11,500; appropriation towards liability for taxes, etc., in New Zealand and Great Britain, £3000; to carry forward, £6034 12s 7d. The members of the board express their regret at the death of Colonel the Hon Dr W. E. Collins, C.M.G. M.L.C., which occurred in August last. The vacancy has been filled by the appointment of Mr D. 11. S. Riddiford. The retiring directors are Sir Harold Beauchamp, Mr R. W. Gibbs and Mr D. 11. S. Riddiford, who. being eligible, offer themselves for re-election. V/airarapa Meat Co. A loss during the year of £76 was recorded in the report of the Wairarapa Frozen Meat Co., Ltd. The report stated that the amount brought forward from last year was £1522, so that after allowing for the loss during the year, the balance remaining to the credit of the profit and loss account was £1446. MONEY MARKET. Seasonal Quiet Spell on Exchange. LONDON, December 8. Following the usual custom as the year is drawing to a close, the Stock Exchange has become decidedly quieter, operators being disinclined to undertake new commitments until the New Year. Consequently, there has been a reaction in the prices of giltedgeds, though not to any great extent. Yesterday, however, conditions improved materially, and there has been renewed demand for high-class investment stocks. This was largely due to the quick success of the Austrian £10,000,000 conversion loan and better feeling regarding the Saar. One satisfactory feature of the present situation is the good demand for new capital issues of gilt-edged type, several of which have been placed recently. In most cases they have been over-subscribed. One, however, the Birmingham loan, was issued just when gilt-edgeds began to weaken, consequently the underwriters were left with 73 per cent and dealings opened at i per cent discount, but within a week the discount was converted into a good premium, a fact which may be taken to indicate the inherent strength of the investment market. British Treasury Bills. British Official Wireless, RUGBY, December 7. The total amount applied for in tenders for £40,000,000 Treasury bills was £58,425,000. The amount allotted in bills at three months was £40.000,000, the average rate per cent being 11/2.8d, compared with 9/3.94d per cent last week. DAIRY PRODUCE. Overseas Quotations. The New Zealand Dairy Produce Board has received the following: market report from its London office, dated December 7, 1934: Butter. Last Dec. 7. Nov. 30. Year. New Zealand— s. s. s. s. s. s. Salted .... 72 72-73 70-72 Salted, excep. 72 Unsalted . . 74-76 74-76 86-00 Deliveries (tons) 2642 3803 2821 In store (tons) 5215 5083 3228 Australian, salted 70s (70s-71s); unsalted 71s-72s (725-735). Deliveries, ! Australian, 2424 tons (2125 tons), and in store 3433 tons (1337). Argentine, unsalted 70s-72s (70s-725). Danish 104 s f.0.b., 1225-124 s spot (116 s). Dutch, unsalted 9ts-98s (945-98 s). Latvian, salted 70s-72s (70s-725). Lithuanian, salted 70s (70s-735). Siberian, salted 69 s-7 0s (695-71 s). Ukmnian, salted 68s-69s (695). Market steady. New Zealand retail price 9d and lOd; Danish Is 2d. Cheese. Dec. 7. Nov. 30. Year. Last New Zealand— s. s. s. s. s. s. White .... 44/6-45 47 47/C-4S Coloured .. 44-44/6 46 45-46 Deliveries (crates) 22,453 1 8.692 20.319 In store (crates) 67,814 71.91 S 34,659 Australian, white 445, coloured 435. Canadian, white 55s (555); coloured 555-56 s (55s~5fis). Deliveries, Canadian S3b9 boxes (7400) and in store 174.329 boxes (211,422). Market quiet. New Zealand retail price 6d. The board has also received the following advice from its agents in Canada:— Butter.—New York, 301 cents, Montreal 203 cents. Stocks, 5285 tons (last year 3408 tons). METAL MARKET. London Quotations. United Press Assn.—By Electric Telegraph—Copyright. LONDON, December 8. Metal Exchange quotations are as follow, those previously cabled being given for purposes of comparison:

£6-4 10s, foreign £53 10s. Molybdenite, 34s 6d per unit. Wolfram,. 40s per unit.

Dec. S. Dec. 6. _ (Per ton.) (Per ton.) Copper— £ s. d. £ s d Standard, spot 27 16 10J 27 11’ 3 Standard, fwd. 23 4 4$ *>7 18 u Electrolytic 31 0 0 30 10 0 Amer? in' c” '' 31 2 6 31 0 0 per lb ... . 9 Wire bars .... 31 10 0 31 0 0 Spot 10 7 fi 10 6 3 Forward 10 7 6 10 11 3 Spelter— Spot 11 1R 3 1116 3 Forward .... 12 10 0 12 1 3 Spot 228 fi 3 227 16 3 Forward .... 228 18 9 228 16 3 Silver— d. d Standard, oz. . 24 11-16 241 Fine, oz 2fiJ . 26* Pi" iron. 47s 6d. Antimony, British