Business Gossip

Sun (Auckland), Volume 1, Issue 79, 24 June 1927, Page 2

Business Gossip

Produce Markets Weak. —Under date June 22 the London office of the New Zealand Loan and Mercantile toy. advise as follows: New Zealand butter, 158 s to 161 s a cwt; cheese, 85s to 87s a cwt. Markets weak. London Tallow Markets. —Under date June 22, Dalgety and Co., Ltd., report receipt of the following cable from their London office:-—Tallow: 1,575 casks offered and 43 per cent. sold. Prices are unchanged to 6d lower. Activities. —Together with the amount brought forward, the year’s profits of the Southern Cross Permanent Building Society amount to £5,248 15s 2d, according to the fourth annual report of the company. The directors recommend the payment of a dividend at the rate of 61 per cent., absorbing £4,910, and that the reserve account be increased to £2,000. The principal items on the balance-sheet are:—Liabilities: Shares fully paid, £75,719; bank, £29,968; Public Trustee, £20,000; deposits, £3,622; mortgages, £3.330. Assets: Loans on mortgages, £92,333; freehold land and buildings, £46,566. The retiring directors, Professor Segar and Mr. W. Andrews, offer themselves for re-election. Moanataiari Shareholders Meet.— The annual meeting of shareholders of the Caledonia Moanataiari Gold Mining Company was held yesterday, the chairman of directors, Mr. P. F. Watson, presiding. The directors’ report stated that the prospects of the mine were most encouraging. Both faces hillward and seaward continued to show gold freely, and the reef in the winze looked promising. Since the books had been closed a trial consisting of 98 tons of clean quartz had yielded 131 oz. of gold and silver to the value of about £391. The mine manager reported that indications were that a payable patch of gold was being approached. The retiring director. Mr. P. F. Watson, was re-elected. Mr. T. W. Maben, retiring auditor, was reappointed.