COMMERCIAL.

Gisborne Times, Volume XLV, Issue 4005, 11 August 1915, Page 2

COMMERCIAL.

(Press Association Telegram.) STOCKS AND SHARES. Al r OK LA N D EX Cl! ANG E. Sales: Wailii, 33s lid ; Talisman, 20s 3d ; Junctions, 225. Following are tho closing prices: By Teleg raph—Speci a 1 Co rrespcn dcut.

CORRECTION IN HIGH COMMISSIONER’S CABLE. * WELLINGTON, Aug. 10. Tho Department of Agriculture has < leceived a < orreolinn from the Telegraph Department in reference to the High Commissioner's cable. It refers < to mutton only, the particulars regarding -which now road : Mutton. —Canterbury 7d for light weight, for heavy weight (fid!, North Ishuul 6 13-iod for best quality, light 1 ordinary quality GRI, ewes 6d. PRICE OF. BUTTER FALLING. A PLEASING ANNOUNCEMENT. ; P,y Telegraph—Special Correspondent. : WELLINGTON, Aug. 10. s , From to-morrow tho price of certain brands of butter on the Wellington market will ho reduced by 2d per lb to Is 7d. Other brands will be re- : ducecl one penny. TOE EXPORT OUEVTIUN. I Bv Telegraph—-Spec: d Correspondo:: “ WELLINGTON, Aug. 10. ' The Prime Minister was asked to- . day whether, in view oi the reduction j in the price of butter in New Zealand, j the Government would now he propur- : oil to allow export to be resumed. ■■My advice,’’ said Mr Massey, “is that butter is coming in ireeiy now. and 1 think it will unm he no-sible for us lo remove the embargo upon export altogether. My correspondence goes to show that all the factories j in the Auckland province and most : of those in the Taranaki province have j commenced operations, although the* . supply of milk is very small now as i compared with what it will he in two or three months.” Mr Mar.-ev said- that- the embargo I sad been rigidly enforced, A few days ago he had ' allowed a small shipment to have Auckland on condition that the price in Auckland was reduced, and the price was reduced. WELLINGTON MEAT EXPORT CO. •• A EAT YEAR.” , Bv Telegra piSpeci a 1 Con espondent WELLINGTON, Aug. 10. The annual meeting of the W ellington Meat Export Company was held to-day, Mr W. G. .Foster presiding. In moving tho adoption oi' tho roport and balance-sheet, tlie ciiaiimau desm-ibed th-e result, of the business or the year as salislacVory. In fact, the year had been a ‘Tat one. Referring to the unsold stocKs at- 30-n June,' 191-1, the chairman remarked that the market conditions then were somewhat uncertain and, in consequence, tho Board considered that a very conservative valuation should prevail and so preclude disappointment. In the ordinary course satisfactory surpluses over the draft values were confidently anticipated, hut these were very greatly exceeded os a result of the war conditions, which, had it been possible to foresee, would hare obviated the appropriation from the . dividend equalisation reserve of tno half year’s dividend of £4230 so taken. This reserve was established for specific purposes, and the directors considered it desirable by this course to mark it as a “lean” year rather than anticipate ascertained surpluses. Iho company’s assets during its existence, j bv depreciation appropriation*', had been written down from £371,148 to £171,132. or nearly 50 per cent. Ihe reserve funds.. apart from the £6160 carried forward, aggregated £85,20iAVitli such substantial additions to reserve. it was felt that it was due to shareholders to supplement the usual dividend on share capital bv way or a bonus of £2 per cent. ■ This was the more strongly recommended m than unsold stocks were again valued conservatively in view of any abnormn. decline in values, which might ensue us a consequence of the war. The report and balance-sheet A ere unanimously adopted, Mr Hot! seconding the motion. _ , r . On tho suggestion or ivir A. n>. M a bin, tho appropriation to the war fund or o’tier patriotic purposes v.as left m the hands of the directors. Reference was made to the .strenuous year experienced by toe staff ai ernplovc.es generally, arid the gratitu e of shareholders was duly ac-kuowled*, ttl Mr F. D. Lad den (secretary) replied on behalf of the staff. Messrs J. Campion amt b. wore re-elected directors, and tne directors’ remuneration was fixed a the previous year’s rate. Messrs 0. 8. Watkins, E. \V. Hunt, ; , T) ,i yy. S. Wheeler wore elected auclij tors, | LONDON"~WHEAT MARKET. : United Press Association —Copyright j LONDON, Aug. 9. I Wheat was firmer at the outset to- ! day owing to higher American cables hut was-quieter later owing to noei offerings from Manitoba, and'reports us to improved American weather. LONDON METAL MARICETS. ffecivcd Ti n .- —On the spot, buveis Llou, sellers £l5O 10s; at three months, buyers £152 ss, sellers £lo2 Ins. Lead .-Buyers £22 12s Gel, sellers £22 17s Gel. Spelter. —£75 to £65._ Silver.—-Bar silver is quoted, at 22 9-16 d per ounce standard.

AUC vla; YD, Aug. 10 Yv'ailii 33 0 38 0 Talisman 20 3 20 0 Junction 22 0 21 9 Sylvia 0 8 0 0 Occidental 0 11 0 s-;-Waitangi 1 1 .Ross 2 0 N./. Bunks 213 0 Bo. (paid) 332 (i 320 0 N.Z. Insurance's.. . 110 0 J15 0 South British ... 95 0 Tanpiri 10 G 15 0 Auckland (las .. 29 0 28 0 Do. (coni rib.) ... 15 3 Trani3 20 (I Do. (or!.) 21 0 21 0^