COMMERCIAL.

Gisborne Times, Volume LXI, Issue 9848, 29 October 1924, Page 2

COMMERCIAL.

ARGENTINE MEAT TRADE.

“LESS BEEF AYJLL BE EXPORTED IN FE W YEARS’ '

C'ONTR OL BOARD’S REPItESENTA'J IVE’S OPINION.

The New' Zealand Meat Producer’s Board' has received the following letter from .its South American' representative, dated 20th, August, 1824 :—r Cattle. —The general scarcity of fat cattle at this season of the year (about the middle of Winter) has caused values to bo well maintained, though very probably prices will begin to decline, as the supply of cattle off the early, grass becomes more plentiful. Swifts have just erected a new plant at llostrio which is expected to be, working ini a few weeks, and will ■enable that plant to handle the cattle supply in the more Northern part of this republic, while a limited amount of sheep will also be available from the provinces of Entre Rior, where; the arc considerable numbers of sheep. Rosario is an important centre up the river and a convenient centre for a wide; productive district, and the lesser railway freight than to the other plants much further to the South will give the Rosario works an advantage in competing for the freezer grade of cattle though the expense of sending drilled beef to the fast overseas 'boats leaving this capital or La Plata will be against their bandling prime chilied. 1 am convinced that within a. few years less beef' will be exported from this country as the present heavy killings, 1 don’t think, can be maintained

Sheep.—Values for all good quality sheep arc exceptionally high. Pasture is generally scarce, though in the earlier’districts shows signs of responding to the influence of early Sprin. There are several lots' of New Zealand’ bred Lincolns now here, but so far no sales have been made, r.s it is early in the season lor the sale of lambs.

PRODUCE MARKETS

GENERAL V RESPECTS

Latest reports from the South Island are to the effect that a much larger area was placed under oats this year than was done the previous season. Given favourable weather conditions the yield should be a large one. So far the crop has made very good progress, as the rains came in time to avert any danger from the spell of fine vreathcr.lt is now considered certain that there will be a shortage of wheat next year as far as New Zeal:'.:.it's requirements are concerned. As far as Australia is concerned there there appears to b? every prospect that the wheat yield this year will he a bumper one. and it is from that quarter that New Zealand would have to draw its supplies, while there will b ea large quantity of wheat for export from Australia, prices over there are ruled by the Loudon market, and in. the face of the threatened world' shortage t ext yoar.it will probably mean paying still higher prices for wheat imported into New Zendand.

SHARE MARKET

WELLINGTON, Oct, 28. No sales. Quotations, buyers, Bank of Australasia £l3 3s; Bank of New Zealand, 59/-; C-rowns, 45/-. Sellers, Mannings. 35'-; Unions £l4 15s and £l-1 Cs.—Special.

DUNEDIN, Oct, 28. let ITuddart, Parker Co. Ltd

43s 3d. Reported sale: N.Z. Drug Co. 60s; Dominion Rubber Co. 21s Gd ; Kaiapoi Woollen Co. (eont.) 7s.

DALGETY AND CO. ! S GOOD YEAR

Messrs Dalgoty and Co., Gisborne, have received advice from, their head office that* the annual meeting of the company will be held on November 3. The Board, of Directors recommend a final dividend ol' five per cent., making. with the interim dividend already paid, ten per cent, for the year ending June 30. They also recommend a bonus of seven shillings per share, both being payable on November 7 next. They intend writing down premises by £50.000 increasing Staff Provident Fund by £25,000, leaving £170,000 to be carried forward.