HENRY JONES CO-OPERATIVE.

Press, Volume LXIII, Issue 19175, 5 December 1927, Page 10

HENRY JONES CO-OPERA-TIVE.

PROFITS FOB PAST YEAR. The not income of Henry Jones Cooperative, Ltd.—whose headquarters are in Melbourne, and who have New Zealand interests—for the year ended October 31st was £159,103, tTie increase for the year being £19,307. Sources of income were:— .W'ithin the Commonwealth, £125,497; outside "toe Commonwealth, £35,205?. these amounta comparing with £118,746 and £23,548 as shown for 1925-26. An interim dividend of Is a share was paid in Juno, and absorbed £45,549. The diroctors now recommend the appropriation out of income earned within the Commonwealth of a dividend at the rate of 9d a share, and out of the income oarned outeido the Commonwealth an additional dividend of 6d a share. These two allocations will absorb £87,092, and the balance of £26,461 is added to ths general reserve. The directors state that the profits earned by the associated companies 'during thd last year had been quite satisfactory. However, in accordance with the conservative policy laid down at the inception of the company, the board proposes paying an interim diviend in June next of 9d a. share. ■ This will absorb an amount slightly in excess of the usual half-yearly disbursement, and the board notifies shareholders that the payment is eubjeot to profits during the current half-year being sufficiently maintained. The capital of the company has been increased from £910,984 to £1,393,476. This change arises from the fact that the directors decided that it was desirable to bring capital more into line with the value of the assets as represented by investments in associated companies. As a consequence a distribution of one fully paid £1 share for every iwo shares held was made to shareholders on the register of the company on May 25th. A block of 50,000 shares was set aside for allotment to employees on special terms and 27,000 of these eharea have been allotted to employees who have rendered long, loyal, and -efficient service. As the company is a holding concern, its assets are given in the single item of eharea and interest in jam manufacturing and fruit companies in the Commonwealth, South Africa, New Zealand, and England, the total being £2,020,833.

£45,000,000 PROFIT ON CARS. Profits amounting to £45,000,000 will to niado this year by the General Motors Corporation of America, according to a statement made recently in Paris by Mr Alfred P Sloan, president af the corporation. This year's profits of General Motors, Mr Sloan said, will bo more than £10,000,000 in excess of 'aat year's, while the wholesale value of the factory's output for the year will .be more than £200,000,000. „ Mr Sloan declared that General Motors would sell moro than 1,500,000 cars this year. N.Z. AND AUSTRALIAN LAND CO. (from oub own correspondent.) LONDON, October 19. • At a meeting of the directors of the New Zealand and Australian Land Company, held in Edinburgh on October 18th, it was resolved to recommend, Bubject to audit, payment of the following final dividends for the year to March 31st, 1927: On tho A preference stock, 2 per cent.; on the ordinary stock, 4 per • cent, (making 8 per cent, for the year), both under deduction of income-tax.

LAND SALE. Messrs H. Matson and Co. sold by auction on Saturday, 420 acres, 1 rood, 20 perches of good second-class land at Kirweo, adjoining the railway station. The sale was under instructions from the Registrar of the Supreme Court, and tho property was bought by the mortgagee at £9 10s per acre. POULTRY PRODUCERS, LTD. The Canterbury Co-op. Poultry Producers, Ltd., report that poultry is comng farward a little more freely, but supplies are not yet equal to tho demand. Prices remain high for good quality birds. As Christmas is approaching, suppliers are advised to send to the mark9t early. _ The following prices were realised per pair:— Tabic chickens, light 7s to 9s, heavy 10s 6d to 13s 6d; hens, light 53 Gd to 7s Gd, heavy 83 6d to 10s 6d; geese, 7s to 8s; goslings, 10s to 12s: ducks, 7s to 9s; ducklings, 9s to 12s; turkey hens.lSs to 21s, gobblers "30s to 4'20. —"i LINSEED. The Department of Agriculture has received the following cablegram, dated Ist instant, from Messrs Lafldale and Clark, Ltd., of Calcutta, with reference to the linseed market:— "We quote £ls 17s 6d per ton c. and t. Sydney for immediate shipment. Market dull"

CHRISTCHURCH STOCK EXCHANGE. SATURDAY'S TRANSACTIONS. Sal?, on 'Change—Bealh and Co., 32s 9d. Sales reported—Comm. Bank of Sydney, £24 10s; balgety and Co., £l3 Is; Barns of >"e«r South Wales, £45; N.£. Breweries, 4is; St&Dles Brewerv, 38s; N.Z. Government 31 per cent. Inscribed, 1927-41, £9B 17s 6d. LATEST QUOTATIONS.

OTHER EXCHANGES. (PRSB3 ASSOCIATION TILrGBiUS.) DUNEDIN, December 4. Sales —Notional Insurance, 15s 0d (two parcels). Sales Reported—Bank of Jfew Zealand (cum div.), 60s 3d, 60s 4d;'Dominion .Rubber, 475; Wilson's Cement, 375. SMITHFIELD PRICES. The New Zealand Meat Producers' Board has received the following cable from its lioadon office, dated December 2nd, advising Bmithfield delivered prices at that date as follows, prices for the two previous weeks being also shown:— Dec. Nov. Nov. •2. 25. IS. d. d. d. N.Z. Wethers and Maidens—■ Canterbury quality— Selected brands: 56-under .. ..■ GJ 6i 6i 57-64 . . . . 6 6 (i 65-72 .. .. 5g 5g 5g Other brands: 56-under ..> .. 53 53 53 57-64 .. . . 5g 5g 58 65-72 .. .. 53 5i oy Aew Zealand Kwes—--64-under .. ~ 4} 4J 4i N.Z. LambsCanterbury quality: 36-under . . .. 9s 9J D§ 37-42 .. ..93 08 9g Seconds . . .. 8i 8J 86 43-50 . . . . Selected brands: 36-under .. .. 37-42 .. . . Other brands— First quality: 36-undcr .. . . 9 91 f)' t o 37-42 .. ..9 9J 0£ Second quality: 30-32 average ..85 8i 8g Australian Lambs— Victorian, Ist quality: 36-under .. (1 9 37-42 . . . . 9 y Argentine Lambs—--Ist quality: 36-under .. . . 7$ 7J 72 37-42 . . . . 7 7 7J New Zealand Beef— Ox fores .. 33 3J 3J Ox hinds .. .. •5J 5i 5i Argentine Chilled BeefOx fores .. .. 42 4J 44 Ox hinds .. ..66 6i 6g Argentine Frozen BeefOx fores .. :,. 4 4 4 Ox hinds .. ..65 52 5i Frozen Pork—--80-1201b .. .. 81 81 8J 120-1801b .. ..7 7 Cj Lamb—Market firm, but little doing owing to heavy pitchings of Home killed and Argentine lamb. Mutton Market —Wethers, market is quiet but firm. No change in prices for ewes, but there is a better tone prevailing on market owing to more enquiry.

GOLD. (BI CABLB— PRESS ASSOCIATION— COPTBIGHT.) (AUSTRALIAN AND N.Z CABLB ASSOCIATION.) (Received 4th, 5.5 p.m.) NEW YORK, December 2. The pound sterling has reached 4.88 3-16 dollars by the recently announced adjustment of ocean freights. It is believed at gold •hipping points that tho rate of exchange will reach 4.89 dollars. COTTON, JUTE, ETC. (Received December 4th, 5.5 p.m.) LONDON, December 3. Cotton —Liverpqol quotation for American middling up-land, January delivery, 10.46 d per lb. Rubber —Fine hard Para, 17$ d; plantation, first latex crepe, 19§d; smoked ribbed 198(1. Jute —Indian'native, first marks, DecemberJanuary shipment, £3O 17s 6d per ton. New Zealand Hemp—December-February shipment, £34 per ton. Copra—South Sea, bagged. November-De-cember shipment, £2G 15s a ton. Linseed Oil—£29 10s per ton, equal to 2s 4 l-3d per gallon. Turpentine—36s Gd per cwt, equal to -s 9 l-6d per gallon. SHARES. LONDON, December 1. P. and O. Deferred Stock is quoted at £287.

WHEAT.

HOME QUOTATIONS. (by cable—press ASSOCIATION—COPIEIGHT.) (AUSTRALIAN AM) N.Z. CABLE ASSOCIATION.) (Received December 4th. 11.5 p m ) LONDON. December 5. wheat cargoes are quiet and prices unchanged. Parcels opened firm, sellers asking threepence advance for Americans but close quiet business is possible at late rates. Liverpool futures arc: December, 10s JSdMarch, 10s 4*d; May, 10s 3£d. ' CHICAGO FIGURES. A * (Received December 4t!i 115 pm ) NEW YORK'. December 3. Chicago wheat quotations are: December 12§J: March. 133Jd; May. 135 i cents a bushel. MEAT. (Received December 4th, 5.5 p.m.) LONDON, December 3. Sheep—North Island, heavy 55d per lb; Australian, firsts 4Jd, seconds 4jj. Lambs —North Island, firsts Od, seconds Bj>d; Australian, firsts, other States, BJd; seconds, Victorian 7Jd, other States Vd; thirds, CJd; Argentine, seconds, 6d. Chilled Beef —Argentine, fores 4gd, hinds GSd; other meats unchanged. DAIRY PRODUCE. Messrs A. H. Turnbull and Co. are in receipt of a cable from their principals, Messrs W. "Weddel and Co., Ltd., London, dated December 2nd, reading:— "Danish butter 192s to 196s (last week 2045), New Zealand unsalted 186s to 188s (last week 188s to 1925), New Zealand salted 166s to 172s (last week 172s to 178s). Market firm. Cheese, white, 98s to 100s (last week 100s to 102s), coloured 96s to 93s (99s to 101s). Market quiet. Canadian cheese, white and coloured 102s to 106s (102s to 1063)."-

Buvers. Sellers. £ s. d. £6. d. N.Z. GOVT. DEBENTUB :es4j per cent. Inscribed, 1053 9S 12 6 97 0 0 4- per cent. Bonds, 1'J3S 96 13 0 — 4J per cent. Bonds, 1939 .. , •• 96 12 6 97 0 0 5 per cent. Inscribed, 1920 98 15 0 — ai per cent. Inscribed, 1927-11 96 13 u — 5J ner cent. Inscribed, "193.3 101 2 6 — o| per cent. Bonds, 1933 101 5 0 — 5J per cent. Inscribed, 193G 101 2 G — 5J per cent. Bonds, 1930 .. - 101 3 U — COMPANY DEBEXTURESN.Z. Breweries, Bonds 1 3 o" 13 8 U-laxo, (j-i per cent., 1943 — 90 0 0 BANKS- • Adelaide — 8 1-1 0 Aust. of Commerce -- 1 12 0 Australasia — 14 14 0 C'onim. of Ausi. 1 9 1 19 3 Coram, of Aust. (pref.) 6 19 0 7 1 0 Comm. of Sydney 2-1 5 0 — K.. S., and A. — 7 13 0 National of Australasia (£10 paid) ' .. 1C 16 c 10 18 0 National of Australasia, (JS3 paid) /; S 3 6 8 7 0 National of N.Z. 6 16 G G 17 C New South Wales 44 13 0 14 17 6 New Zealand (e>; div.) .. 2 13 9 — I". and 0. Bank 10 0 0 — Union of Aust. — 11 15 0 Union of Aust. (new. 1st instalment piid) — GOO INSURANCE— National 0 13 3 0 13 8 New Zealand .. a o 1 2 0 3 South British — 2 17 3 Standard 3 1 C — LOAN AND AGE-NCI'— Dalgety and Co. 13 0 0 13 0 G (ioldsbrough, Mort (cum div.) .. — 2 7 3 N.Z. Loan and Mercantile (ord. stock cum div.) 91 10 0 — SHIPPING— Howard, Smith 1 S 7 19 0 Huddart-Parker 2 S 3 — P. and O. Deferred Slock (cum div.) .. 235 0 '0! 370 0 0 Union (pref.) 1 0 1 — FKOZEN MEAT— N.Z. Refrig. (£1 paid) 0 IS 0 0 18 i N.Z. Refrig (contr.) .. 0 8 7 0 S 10 WOOLLENSKaiapoi (17s paid) n s fi 0 9 0 Kaiapoi (pref.) COTYL0 13 3 — "Weslport •• ■• 1 11 0 — GASAucWand 1 3 0 — Christchurch .. 1 i 7 1 4 11 Christchurch (»«»•, 5s paid) .... — 0 G 8 Timaru ..: — 13 0 BREWERIESCrown 0 .12 9 — Monteith's — 110 New Zealand .. 2 3 7 2 4 9 Staples 1 IT 6 1 18 0 Timaru .. — 0 16 3 "Ward — 1 17 0 Tooths 2 2 6 — CEMENTS— Wilson's 1 16 3 — MISCELLANEOUSBeath and Co. ,. 1 12 0 1 13 0 British Tobacco 2 13 0 2 13 9 Colonial Sugar — 54 17 G Electro. Zinc (ord.) .. — 1 11 0 Electro. Zinc (pref.) .. 1 11 8 1 11 11 Holden's Motor3 — 1 13 0 N.Z. Drug Co. 3 6 3 — N.Z. Guarantee Corpn. 0 8 9 — Taranaki Oilfields -- 0 11 3 Wbitoombo and Tom.b3 3 7 6 — Quill, Morris 1 1 0 1 1 9 Greater Crystal Palace ■-. — 110 MININGKawarau n o C — Mt. Lyell (cum .. 1 s 3 1 8 G "Waihi i l 8 12 3 Grand Junction .. 0 0 S