COMMERCIAL.

Press, Volume LVIII, Issue 17418, 31 March 1922, Page 8

COMMERCIAL.

MEAT PRODUCERS' BOARD. MB JESSEP TO GO TO ENGLAND. (F&ES3 ASSOCIATION TELEGRAM.) WELLINGTON, March 30. The New Zealand Meat Producers' Board has decided to request Mr J. S. Jessep (of Wairoa), vice-chairman of the Boa:d to proceed to England on business of the Board Mr Jessep has agreed to the request nnd will leave for London towards the end of April. The Board has lacided to advertise for applications for the position of New Zealand manager for tne Board. N.Z. DRUG COMPANY. "CBUSHING IMPOST OF TAXATION." (special to "the press.") DUNEDIN, March 30At the annual meet'ng of the New Zealand Drug Company, the chairman of directors (Mr A. Bathgate) said. One of the most difficult problems that business men have to contend with at present is taxation, especially m regaiu tp large companies' operations. ine present heavy and crushing impost of taxation is an effectual bar to large dividends, and there is also a very much worse feature as affecting the general prosperity of this country, in so much that capital is being diverted into other channels of investment rather than into' new industrial concerns, which in this young countiy is certainly a retrograde movement. As you are all aware, the company ha 3 been engaged during the past two years in erecting large and up-to-date chemical fertiliser works at Hornby, near Christchurch. Shareholders will be gratified to know that these worka are now completed, arid the manufacture of acids and fertilisers was commenced last week. The Board of Directors visited the works on Thursday, March 23rd, and have pleasure in reporting to you that the buildingß, plant, and machinery have all been erected in a most satisfactory manner, and this general lay-out is conducive to ... the most'economical working throughout. These works in operation are a great asset to Canterburv Province, and your directors confidently hope to secure a full measure of support from the fanning community. BRITISH TRADE CORPORATION. RE ARRANGEMENT OF CAPITAL. (By Oabl*—Press (Australian and N. 4. Cable Association.) (Received March 30th, 5.5 p.m.) LONDON', March 29. The British Trade Corporation recommends the writing down of the capital by £1,0(10,000, and also the creation of • £1,000,000. six per cent, tax free ■ "A" shares. VOie position is due to the . locking up of I funds in connexion with various trading concerns, and tne rapid •fall in foreign' exchanges, which have made good men weak and moderately good men unable to meet their obligations at present. " ' '( V ~ T ~ ' . iTirftrp.it IK MALAY ABOHIPELAGO A young New Zealaader, writing to a friend in Christchurch from Sumatra, . Maliy. Archipelago, bays:—. , l am now ownei; of some large timber ■ 500,000 -tons of " timber on them, and there ii water transport and a mill. 4 The concession, rights are for a period of ten years. I am'trying for tne ex- ,. poet trade. About half the timber consis ta-of Philippin-3 mahogany ; a vainable hard, heavy wood, a bit lighter in colour than the Central American 'mahogany. It is A.lfor shipbuilding, i bridge and wharf construction, and rail'way j&keperß. A „ . WHEAT MABKET. /By C*bl»—Prow Aissociitioii—Copyright) (Australian sad N.Z. Cable Association.) (Beoeived Much 80th. 5.5 p.nL) . LOUDON, Marcii 29. ; .WhejA—Cargoes an quiet, as millers have •efficient stocks, and do not wish to wake further contracts at present. , | TALLOW. (Bwahvd March 80th, 5.5 p.m.) LOUDON, March 29. Tallow —1975 oaoka were offered, and 419 (»"-d at an average decline of about 6d per cwt.) The decline was most marked on low ■' liwUti '* Mutton, fine, 425;; medium, 38s ... fld. bfiei, fine, 42a; medium, 88s 6d_ Dalgoty and Co., Ltd., have received the A following cablegram from their London oJ- ; < fief, dated March 29th:—"Tallow—At the . .weekly auction 1880 casks, were offered, and 828 eoid. . Fair demand for mutton tallow, .which is' 8d easier. Low. and inferior de- *. .scriptiona of tallow are, on the average, •Is to Is 6d lower. Better qualities are 'A neglected." Meears A. H. Tnrnbull and Co. are in receipt of the following cablegram from W. Wtfldsl and Co., Ltd., dated London March 39th/—"At tallow auctions to-day 1930 casks ; .were'offered, of which 800 were sold. Tallow has' declined 6d- per cwt. Very little demand."

Messrs Booth and Co.'a London house ad- •. rises that - there was little' competition at ■the tallow salss held on the 29th inet. In all 1330 casks wore offered, but only 828 wera sold.- Prices were slightly easier than - last report. LONDON WOOL SALES. (Beoeived. March- 80th, E. 5 p_m.) < LONDON, March 29. ■ At tha wool sales competition was well maintained all round, at full prices. "Gear" atado 174, and "Avon" up to S6jd, average S3d. COLOMBO TEA SALES. ffij Ctblt-Pm Association—Copyright.) iAastnlian and H.Z. Cable A'sociition-J LONDON, March 29. At the' Colombo tea sales 2,750,0001b was offered. Xha quality and the selection again " > showed a falling off. A good general depmaited, and bidding was keener, vonsidermg the drop in quality, prices gen- ' * ero y(sZ ? film. Common broken Pekoe T&ooght Is 2Jd, medium broken Pekoo U and good common leaf la 8d per lb. btoney wool sales. c*bl»—Pr*M Association—Copyright.) {Australian; and Hi. Cable Association.) (Bewived March 80th, 9.45 p.m.) . SYDNEY, March 30. .A* -thewool sales soonred reached 49d, whish is a record price for Sydney.