COMMERCIAL

Taranaki Daily News, 3 April 1922, Page 2

COMMERCIAL

MELBOURNE HIDE SALES. By Telegraph.—Press Assn.—Copyright. Melbourne, April 1. Hides.— market has greatly improved for all weights, excepting heavy kips, and is firm at a halfpenny advance. ADELAIDE WOOL SALES. Adelaide, April 1. A feature of the wool sales was an advancement on the prices ruling over last series. Merinos and crossbreds are 15 per cent, higher than the February sales. Yorkshire. secured the largest proportion offering. LONDON MARKETS. The New Zealand Loan and Mercantile Agency Company have received the following cablegram from their London house under date March 29 : Tallow.—We quote present spot values: Fine mutton, 42s 3d per ’cwt.; good beef, 40s 9d per ewt. ; mixed. 35s 3d per cwt. Market inactive. New Zealand Frozen Meat.—-Lamb ll%d per lb. Market weaker. Mutton : Quotations unchanged ; market steady. Wether and maiden ewe, light 7 l-8d per. lb., heavy 6)4d per lb.; ewe, light 5 7-8 d per lb., heavy 5%d .per. lb. Beef: Small demand, market weakquotations nominal and unchanged. Ox, hinds 4 l-8d per lb., fores 27-8 d per lb.; cow, hinds 3J4d per lb., fores 2d per lb. LONDON WOOL SALES. The New Zealand Loan and Mercantile Agency Company, Ltd., have received the fol r lowing cablegram from their London. hous6 under date March 30 : Wool sales.—The sales closed firmly to-day. As compared with last sales closing rates prices are higher by about par to 5 per cent, for greasy and scoured merino super; about 5 per cent, higher for 'merino lambs, and about par to 5 per cent, for medium and coarse crossbred. Other descriptions unchanged. Average current London value of the undernoted descriptions of New Zealand greasy .wool: —Gopd merino. 2,0 d per lb.; medium merino, per 1b.,; inferior merino, 14d per lb.; fine crossbred, I6d per lb.; medium crossbred, B%d per lb.; coarse crossbred, 40’s, 6%d per lb.; coarse crossbred, 36’s, 5%d per lb. WAIKATO AUCTIONEERING COMPANY. The fifteenth annual report of the Farmers’ Co-operative Auctioneering Cotmpany, Limit-, ed (Hamilton), states that during the year 184 allotments of ordinary shares were made, representing 2172 shares, upon a basis of £5 and at a premium of 5s per share. Seven hundred and sixty “B” preference . scares were allotted at par to four applicants at £1 each paid up. The profit and loss account reveals that, after providing for bad and doubtful debts, current expenses, depreciation, interest, and taxation, the net loss for the year amounts to £1383 6s lid. To cover this loss the interest for twelve months at 6 per cent, on preference shares, the directors I have transferred from reserve for equalisa- I tion of dividends and reserve account, the sum of £16,581 14s 7d, showing a credit balance at profit and loss account of £15,198 7s Rd, and shareholders are asked to confirm their action. The directors propose to allocate this aimount to pay Interest at ■ 6 per cent, per annum on preference share capital, and to carry any balance forward. “Whilst your directors regret their Ina*,fifty to ..recommend the payment of a dividend on ordinary shares,” states the report, “they feel certain that shareholders will recognise that the year under review has been an anxious and difficult one, owing to the persistent decline in the value of stock and commodities of all kinds, as well as to the financial stringency which has existed. These develop-’ (rnents, and their Inevitable sequel lit the shape of reduced earnings, were definitely forecasted in the chairman’s address of last year, and will explain the less favorable results of our year’s operations.”