NEW ZEALAND LOAN AND MERCANTILE.

Evening Post, Volume CVIII, Issue 138, 7 December 1929, Page 12

NEW ZEALAND LOAN AND MERCANTILE.

(Received 6th December, 2 p.m.)

LONDON, sth December. %$!• Alfred Shepherd, presiding at the antfual meeting o£ the New Zealand Loan and' Mercantile Company, said that the corijpany handled in the past.year 305,681 bales of wool of a value of £0,634,023, compared with 276,438, valued at £6,918,829 ioi-'the previous season. Shipments to London increased- by 10,404 bales, worth £27.7,314.

The credit balance of. the commission was £697,482, an Increase of £19,028: The BaWra payment had been . placed to the reserves. General administration expenses increased by £29,801, agencies being created in South Africa, Canada, the United States, and Europe.

THE WOOL CHEQUE

REDUCED BUT SUBSTANTIAL

The gross returns on wool sold in Wellington last sale, 14th November, amounted to £118,040 for 7332 bales. The quantity was 2,527,5431b, and the average return was 11.225 d per lb, and £10 3s 7V 2 d per bale. The quantity offered was 7973 bales. The authority for these figures is the Wellington Wool Brokers' Association. .

The quantity of wool offered at the second Wellington wool sale yesterday was 22,555 bales, of which it is estimated that 75 per cent, was sold, possibly 80 per cent., taking sales effected after the fall of the hammer. But, assuming that 75 per cent, was sold, and the average return was £16 per bale (a low estimate) the total cheque to be payable a fortnight hence should amount to approximately £270,700.