COMMERCIAL ITEMS.

Dominion, Volume 7, Issue 1944, 30 December 1913, Page 8

COMMERCIAL ITEMS.

'N.Z, AND AUBTBAI/lAIf LAND CO. The report of the New Zealand and Australian Land Company. Ltd., for the year ended March. 31 i-igt, states that tho sum brought forward in £11.412, and the net profit, after fcharginj; interest on tho debenture debt, £244,752, making tho balance at tho credit of profit and loss account £256,* 165. Tho d tree torn recommend a dividend on the ordinary f;tock of 8 per cent., and ft bonus of 3 per cent., both free of income tax, absorbing £165.000, and that £50,CvO bp carried to contingency fund-, increaeinir it to £670, CM. leaving £1165 to be carrjed forward. Tho company's during tho first three months of the financial.year under review were adversely affected by q. serious drought, which caused heavy losses of Gtock in New South Wales and also in Southern and Central Queensland. Fortunately, about t.ho middle of June, when tho position %of affairs had reached a veTy critical stago. abundant rvuna began to fall, and since then the 'weather conditions have continued to be favourable. The considerable iossca incurred by the company during this comparativdy short drought oro reflected in the* accounts uow submitted, and thciss would have been greater had the runs in Northern Queensland been within the dry area. Tho wool clip of 25.168 balc9 shows a shortage of 5369 bates, as compared with that of the previous year. This deficiency vrafl ca-uscd by tbo increased mortality amongst the flocks during tho drought, and by the compulsory sales of sheep which were effected previous to ehearif*\ In/ order to relieve the estates at that time. The excellent price netted per bate, however. was £16 123. 2d., or £2 53. 3d. more than WU3 obtained in tho previous year; so that, this increase iti value Went, far towards meeting the ehortago of ouantity. The iambings were disappointing in conecifuence of the adverse season, the total number of lambs bred being 248,648, or 38,167 fewer than in tho previous year, and 93.105 fewer than in 1911, The prices obtained for livo stock sold during the year were, on tho whole, remunerative. The Bum of £62,353 has boon, expended on the introduction of sew improvements further to develop tho estates and render them as productive C 3 possible. In addition, tlie ordinary annual repairs an-d maintenance have cost a large sum. The company's orperienccc; during tho past year onco more prove the necessity of building mp a. large contingency fund, and the directors now rccommend that £50,000 bo added to thi* fund, which will tluis be raised to £570.000. During the year 21,136 acres of freehold have been sold at fair prices. In order to provide sustenance for a large number oi valuable breeding owos which wero on'the verge of starvat ion during the lato dry time, a property called Quabothoo, in New South Wales, which waa fortunate in having a good supply of grass, was purchased. This place, which embraces both freehold and leasehold lands, is situ* ated near the company's Wingadcei estate, and is capable of carrying about 22.GC0 nheep. It is being further improved bv sinking an artesian bore, and by clearing the land of timber, and, when tho rabbits arc well killed down, it is anticipated that the investment, will yield •«. fair return. It wa6 also thought desirable to acquire con!© relief country as a ivtan-d-by during dry seasons for tho company's large herds of cattle in Queensland, and with this object a leasehold run, called. Wurung. was purchased in the for north of the State, where there is ?. more reliable rainfall, but where tho pasturage io much rougher than on the company's more southern 1 runs. This property when bought woe ftp--1 roid of all improvements. and- wa<9 nni stocked, but. since purchasing tho company ; ha* on the introduction' of water ! fljid fencing. improvements quickly as | the limited, supply of labour in* that rc. district* will permit.

Customs duties pollecterf r P.t' the port of Wellinatou • yesterday -to £2958' 145.'.3d. HIGH COlflfKSlONElt'S • CABLEQEAM. ' Tlie Department o£ Airriculture, Indus-, t.ries, ftud.Commerce, has- rsccivod tho followinc cablegram from the High Commie-, rioner.for- ft-.v Zcalonrt, dat-Ht. Lotidon,. Dcccmhcr 25. CXotc: Quotation;, witte; othcrwifo fipwifiod, ore average market priccs on apot):— The Clirifitmos meat.trade is very Eood. There is a. good demand fdr'flJl pradcj of mutton, lamb, and beef. Tho tnb-rkct is Arm. but not 'adT.mocd, ex?ept for- ew«s, whieh flro quoted at 4id.; chilled hinds, «t 6»d.: and foros at. 35d. Butter.—Tho market- is ouiot- with email, business doing; New Zrialo-nd, 122iJ. to l£4s.; Anstraliajv and Argentine, ■ life, to'll6s.; Sibcrktn, 1103. to 1125.: no cWilfre in prices for Danielt. ■ Cheeeo.—'Tho market- is firm, feut little' doing,-Kith no' change in ; prices for Canadian. The-,normal nrice'i'or Nen--, ZE-a'lajcd is:—While.; 665,; coloured, 575. Hemp.—Tho market is quiet. There le a holiday feeling all round.- "Depression. ia caused by heavy arrivals .recently, and in. Absonco of trade demand, the inxr< kot is steadier now. JTow Zealand: The market ia tiuiet but stf.stdy. All prices l are about tho same as' Jo.st quoted. ■ FROZE.V JfBAT. Messrs. Gilbert, Andoreon ami Co., witins under dato London, November 1«, report as follows:— 1 Homc-Rrovrn.—Moderate supplies met a dull market and unfavourable weather. Littlo change in price?. Scotch eldes of beef, 6}d. to 63d.; Bnprifeh, 5Jd. to fid.; Irish, 5Jd- to C-d.; Canadiaji, Kd. to til. Mutton: Scotch. 7jd. to Bd.: English, 7d. to 73d.: Dutch. 6id. to 7d.: owes, Sid. to s}il. Tega: Scotch, (Jd. to Bid.: Diitcli, 7d. to Bd. Scotch Hill lambs, 6d. to 7id, Voa), 7d. to 3id. Pork, 6Sd. to 7jd. , frozen: 465.C00 sheep . latahs from Australia orriving this month in excess of last November. Tho cffec.t Drill be watc.hed with interest. At present thoro are virtually 110 stocks of Australian. Kew Zealand lambs still on tho market.' Some etale Canterburys sold at Sid. for i.tnflcr 36, sd. for 36 t-o 42. PrSm-o Caiit«rl>ury. under 36, 5Jd. New Zealand mutton firm; also Australian, especially ewes. Chilled beef moro plentiful. Smithfield Priccs. ' Mutton— i 1 Under 461b. 48-561b, SS-S4lb, 6M2IU. Canterbury — — " "" Wellington — 48 £ i 41 Ordinary Now Zealand — 4a 4| . ; — Ewes.—New Zealand. 4?-641b., 3 IS-lfid. t Australian. . 30-501b. p 3 11-16 d. Australian sheep, 3C-501b., 0 13-16 d; 50-701b., 3Jd. Sonth American, SS-7Jlb., 41-Ed. 1 Lamb— TJiidcr 361 i). 36-{3lb 42-sClb. d. „ d. d. ■ Canterbury SJ-5?3. 55-5| 6 Wellington — — — ■ Ordinary New Zenland i>l flf-5 -sAustrnilian.—Best, , 23-421b„ Sid.; fair, S l-16d.: inferior, sd. Beef.—New Zealand, fores, 33d.; hind/-, 4}d.; Australian, crons. 33d.; hinds. 4 3-Bd.; South' American, fores, 23d,; hinds, 4Jd. Chilled beef.—South American, fores, 33d.: hinds, sd. | Advicc of Monthly Frozen Meat Shiptoenfs. Ftojcn Ckilied Mutton. Lamb. beef. beef. October, 1913 ... 626,500 334,550 166,550 277.500 October, 1912 374,650 145,950 305,M0 W,M Advice of Shipments During November (to Date).

New Zealand — -- — — Australia. 49.5C0 61,CC0 «.SCO - Eiver Plate 13,CCD 7,6C8 0.000 55,000 . 6WM 6S.KO J1,5C0 November, 1912 . 606,000' ffll££Co 193..3C0 186,500 LONDON JUEK'EIS. Messrs. Mgcty and CompMy, Ltd., ho,TO received a, tablegrdm' from their London office under date December 22. statine that tho froren meat market is interfered with by the holidays, WHEAT AND FLOUR. By Telegraph—Press Association—Coprrieht_ London, December ES. Wheat cargoes arc neeieeted. Tho total euantity of wheat and flour afloat for tho United Kingdom is I.ojO.CCO Quarters, and for the Continent, 1,625,L0A. Atlantic shipments. 484,C08s Pacific, 2.5,000. Tho total shipments to Europe durin? thoweak total 1,250,C00, including 50.C90 fro®. Australia. The Sew Zealand Loam ajid Merenntilo Aeencr Company, Limited, havs received tho following cablegram from their London liouSo under date December 24:~*.w ncat: An Australian parcel has boon poia at £1 155., c.i.f. There is very little demand, <ind the market is likely to decline.