HEREKINO DAIRY CO.

Sun (Auckland), Volume I, Issue 140, 3 September 1927, Page 5

HEREKINO DAIRY CO.

DECISION TO CLOSE DOWN (From Our Own Correspondent.) KAITAIA, Friday. j Bv a large majority shareholders of { the' Herekino Dairy Company decided! this week that the company go into voluntary liquidation. During the past season a number of the largest suppliers in the company joined up with the Kaitaia Dairy Company. The remaining suppliers now consider it would be best for their own interests if the company was closed clown, and all supplied either the Kaitaia or Hokianga companies. MINING NEWS MOUNT WELCOME.—The manager wired yesterday: Low level two hundred feet face, strong colours of gold from floor and roof. Breaking down to-day. Reef highly mineralised. MOUNT WELCOME. —The manager reports for the week ending August 31: During the past week the low level has been extended to l9Sft from the crosscut. The roof at present is 3 to Tin wide and with the walls clearly defined, although rather puggy where solid. Good blotches of gold can be seen in the stone. The country is well headed with mineral seams intersecting the reef, much the same as where good stone was obtained in No. 2 level. All quartz is now being paddockecl for crushing and, from general indications, some good picked stone is expected any shift. LONDON MARKETS CONSOLS AND COLONIAL STOCKS By Cable. —Press Association. —Copyright LONDON, Thursday. The following table gives quotations for consols and colonial inscribed stocks compared with those of August 25: Price. Variation.

W! Australfa, 3, 1915-35 86 0 0 10 0t W. Australia, 6, 1930-40 102 2 6 22 6f tHigher. *Lower. $Ex div. DAIRY MARKET Butter is in steady demand, and prices are hardening. Danish is selling at 186 s. Choicest salted, New Zealand, is quoted at 174 s to 1765; exceptionally fine, 178 s; Australian, 172 s to 1745. Unsalted is scarce, New Zealand bringing ISOs to 182 s, and Australian 176 s to 178 s. Cheese. —The market is firm. New Zealand, 95s to 96s Australian, 92s to 935. THE METAL MARKETS (Quotations on Aug. 29 in parentheses.) Copper.—Spot, £54 13s llcl (£55 Is ilOld); three months, £55 3s lid (£55 Ss 9cl). Lead.—Spot, £22 8s 9d (£22 13s 9d); three months, £22 17s 6d (£23 2s 6d). Spelter.—Spot, £27 5s (£27 17s 6d); three months, £27 7s 6d (£27 13s 9d). Tin.—Spot, £2BB 7s 6d (£289 7s 6d); three months, £284 2s 6d (£285 7s 6d).

Silver. —Standard, 25 1-Sd per oz.; fine, 27 l-8d (27*d). BRADFORD TOPS The Bradford tops market is firm. Topmakers are quoting protective prices, which the spinners are unable to follow. 64’s are quoted at 4s 2d a lb.; 60’s, 3s 9ld; 56’s 2s llid; 50’s, 2s 4d; 46’s, Is lOd; 40’s, Is Sid. WHEAT, FLOUR AND PULSE Wheat.—Cargoes are quieter owing to lower American advices and large offers of Canadian direct to the Continent. Parcels are quiet and occasionally lower. Liverpool futures: October. 10s 10£d per cental; December, 10s 10 5-8 d; March, 10s 9 3-8 d May, 10s 7 3-Sd. The spot trade is slow; Australian, ex ship, 575. Flour.—Weak. Australian, ex store. 40s 9d. Oats.—Steady. Peas.—Firmer. Beans.—Quiet. Sugar.—Granulated, 31s 71d. TALLOW Tallow in stock, 9,348 tons; imports. 1,554; deliveries, 1,531. P. AND O. SHARES P. and O. deferred stock is quoted at £292.—A. and N.Z. DAIRYING ACTIVITIES NORFOLK CO. A greatly-increased turnover for the past season compared with the figures for the previous season is disclosed in the twelfth annual report of the Norfolk Co-operative Dairy Company, Ltd., to be submitted to a meeting of shareholders on Friday next. The average payment for the season was Is 1.86 d, and it is anticipated that the final payment for the year will bring this figure up to approximately Is 4d a lb, as advice to hand indicates that the produce yet unsold will realise more than it was valued at at the time of closing the accounts. Messrs. Scrivener, Manuel, and Lambie retire from the directorate by rotation. The latter does not offer himself for reelection. SUNNY PARK COMPANY Owing to the low price received for produce during the past season, directors of the Sunny Park (Te Poi) Co-opera-tive Dairy Company recommend that no dividend be paid this year. The eleventh annual report to be presented to a meeting of shareholders on Thursday next discloses a considerable increase in output for the past season. It is estimated that when the final payment is made by the Control Board the average pay-out made to the company’s suppliers will be Is 23d for butter, and Is 4d for cheese. The total number of suppliers for the season numbered 46, compared with 16 for the previous season. Messrs. .T. Bell, C. A. Stopford and J. G. Goodwin retire from the directorate by rotation, but offer themselves for reelection. BUTTER AND CHEESE BRIGHT FUTURE PROSPECTS Over the week New Zealand butter on the London market has improved from 2s to 4s a cwt. Cheese has provided a surprise and, owing no aoubt to the shortage of Canadian, has improved to 965. an advance of 2s to 3s. All London cables indicate bright future prospects, and with an inquiry setting in from the North American Continent for butter, it appears that the market should be good for some time to come. The biggest shortage in that quarter appears to be in the United States, which up to the present is reported to have been drawing on Canada for the bulk of its surplus requirements. Merchants report receipt of the following advices from their London principals:— Joseph Nathan and Company.—Butter, 1765; cheese, 965. Both markets firm. Dalgety and Company.—New Zealand butter, 174 s to 1765; Danish, ISOs; Australian salted, 172 s to 1745; Australian unsalted, 1765. Danish butter nominal, owing to stocks being exhausted for the moment. Cheese: The market is firm. New Zealand, 94s to c96s: Canadian, 90s to 945; Canadian c.i.f., 975.

£ s. ’ d. s. d. Consols, 2i per cent. . . 54 15 0 Same. British, 31 War Loan.. 99 12 6 5 or British, 5 War Loan . . 101 17 2 6t Conversion Loan, 31.. 0 0 30 o*t Com’wealth, 51, 1922-27 98 6 Same. Com’wealth, 6, 1931-41 102 0 0 Same. Victorian, 3, 1929-49 . . 72 0 0 6T Victorian, 3£ 1929-49 . 7S 0 0 Same. Victorian, 51, 1930-40.. 102 10 0 2 6t Victorian, 5, 1932-42 . . 99 17 6 2 6t Victorian, 43, 1940-60.. 95 7 6 7 6f N.S.W., 4, 1933 .. .. 94 0 0 Same. N.S.W., 3, 1935 17 6 6* N.S.W., 3i, 1930-50 80 7 6 5 ot N.S.W., 53, 1922-32 .. 101 15 0 Same. N.S.W., 61, 1930-40 .. 103 0 0 6t N.S.W., 6, 1930-40 102 18 9 3 9t Queensland, 31, 1930 . 95 12 6 ot Queensland, 3, 1922-47 72 1 3 9* Queensland, 6, 1930-40 102 0 5 ot New Zealand, 4. 1929 99 2 6 2 6t New Zealand, 31, 1940 86 17 6 2 6t New Zealand, 3, 1945 . 78 7 6 2 6* New Zealand, 6, 1936-51 107 6 2 6t S. Australia, 31, 1939 85 0 0 40 0* S. Aus., 3, 1916 or after 60 15 0 0* S. Australia, 61, 1930-40 103 3 9 1 3t Tasmania, 3i, 1920-40.. 83 15 0 Same. Tasmania, 3, 1920-40 . . 78 5 0 5 ot Tasmania, 61, 1930-40. . 103 10 0 5 ot W. Aus., 31, 1929-35 89 2 6 2 6t