GOLDSBROUGH, MORT AND CO

Waikato Times, Volume XXXII, Issue 2628, 16 May 1889, Page 2

GOLDSBROUGH, MORT AND CO

.\fi:s.ii;s Goui.shkouuh, Moht and Co., Limited, Ciilled their shareholders together on the 21th, to dear the directors' report for the year ended March 31, and to approve the balance-sheet. Mr J. S. Horsfall presided, and the task he had to perform must have been a very pleasant one. Out of the 1.0&">,00o bales of. wool grown in Australia, Goldsbrough, Mort and Co. had the disposal of very nearly one-fourth, and their total sales of wool, with those of produce and of property added, had amounted during the past year to more than £'3,000,000 sterling. As the result of the year's transactions there was the sum of £-13,2-1.5 IDs available for distribution. The directors recommended the payment of a dividend of 10 per cent, per annum, £17,500 ; a transfer of £10,000 to tho reserve fund, which brings it up to £210,000; and to carry £15,7-15 10s to next year. This wisp, precaution ensures a dividend of nearly 10 per cent, next year assuming that not a shilling of it were made. There is, however, every prospect of a good year. The late severe drought has been broken up throughout Australia, and the outlook is most favourable. The chainnan alluded to one important particular that is too frequently lost sight of, namely, the increasing quantity of wool that is purchased in these colonies for direct shipment to the mills of English, French, German and American manufacturers. And there id no doubt that before many years have past the bulk of Australian wool will be so sold. Last year the wool bought in the warehouses of Melbourne, Geelonir, Sydney and Adelaide, for direct shipment to the consumers, amounted to ■JS(J,!MH bales. This was only 53,041 bales short of one half tin year's clip. The quantity will go on increasing until the whole is shipped direct, lluyers will thus obtain tlieir raw nnteiial mole expeditions))', and sellers will save L iiiJon dock, transport, and warehouse charges. The position which Messrs Goldsbrough, Mort and Co. will occupy in that important trade may bo gathered from the position they hold to-day. The quantity of wool sold in or shipped to London from Melbourne in the year ended I>!S;s was 70,: iS!) bales. The wool sold at or shipped to London from Sydney during the same period was 101,87-1 bale- 1 . For the year under notice tin; quantities were 7-l,l'.'iS nnd 17iVI~'-! respectively—or a total of LTi.'.liit , bales. This was only 2,:50!> bales short of one-fourth of the total wool-clip of the year. Of course, the increase in the Sydney transactions is to a very considerable extent attributable, '.o the amalgamation of the firms of Messrs Goldsbrongh and Messrs Mort. The consolidated houses, however, Irive a vast future before l.hom ; and it will be interesting to watch the further pro-re,,'-: of a linn of which Austrili i is proud, and with g.>o,j reason,—(Our Melbourne ;>i n'-p 1 indent,)