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TRADE & FINANCE
APPRAISEMENTS
;. OF WOOL
Trade's Alternative
An alternative plan lor handling
country wool to the proposal to estab
lish country appraisement centres
has been advanced by wool growers
and others conversant with the hand
ling and marketing of wool.
Wool growers say that if there was
any positive, or even prospective, as
surance that the Government scheme
would provide nny substantial mea
sure of safety to the commodity from
actual damage or acquisition by the
enemy, justification for the colossal
cost, utilisation of manpower and
Inevitable disorganisation could be
envisaged. It was contended, how
ever, by growers who had closely
studied the proposition and wool bro
kers expert in the handling, market
ing and shipping of wool, that no sub
stantial or even tangible benefits or
advantages were likely to accrue. In
addition, wool Interests contend that
handling costs would be "'considerably
Increased, and that there would be
a much greater draw on manpower to
handle the wool than was used' by
existing proved methods! It' was
pointed out that under present ar
rangements, with wool' in numerous
stores spread over a wide area, dam
age to all or any would not neces
sarily result from a raid.
Burns, Philp Profit Down
Net profit of £194,436 was earned
by Burns. Philp and Co. Ltd. for. the
year ended March 31 'after providing
£107,864 for depreciation. In the
previous year net profit was £23.5,656
after providing £136,423 for deprecia
tion, and £35,000 for special deprecia
tion. Dividend is maintained at 10
Percent. (2/ a share), and requires
£200,000, leaving £32,066 to carry
forward, £37,630 having been brought
in. Directors state I hat owing to
enemy and Government action, oper
rations in Papua. New Guinea .and the
Netherlands Indies have ceased in
definitely. The trading loss sustained
has been absorbed in full, partly out
of earnings for the year and partly
out of resources set aside over past
years to meet extraordinary contin
gencies.
New Zealand Trade
AUCKLAND, Tuesday. — Evidence of
the maintenance of shipping, despite
war hazards, is provided by returns
of overseas trade for the year ended
March. Exports at £89,000,000 were
Only £2,000,000 under the record year
of 1941. Imports were £52,500,000, an
increase of- £2,500,000.
Melb. Banking Clearances
Week -Ended May 18.
1942. inn.
£ £
Total clearance. .. .. 21,879,117 ,, 24,128.327
Wlte - . . 1,208,358 -.. 998,700
Nti clearances .. .. 23,670,759 .. 23,129 627
January 1 to May IS.
1042. 1941.
£ £
Total clearances '. . . -.4791175,835 . .414.618.287
Leas .Treasury bills . . 12,292,852 . ,14,490,241
Net clearances .. . .497,652, 9S3 ..400,128,016
Dorman, Long and Co, .
Dorman, Long and Co., England, lor
the year ended September 30. 1941,
earned trading profit of £1,189.378 be-
'r® P/ovldlng £441,421 _ for taxation,
rufqo ten £1,395.029 before providing
£438,830 for taxation In 1939-40. Dlvi-
aeml Is paid on the S'a per cent, "first
preference and on the 3 per cent, socond
preference shares, but no payment is
made on the £513.186 preferred ordinary
?nio£' i;1;5.81,1:13 ordinary shares. For
1938-40 dividend was 15 per cent, and 7
per cent, respectively.
Whitefields Ltd.
Ltd., Sydney, announce. that
the sharo register wlU close oh June: I
LI ccnneetlon with payment of , divle
1 PJ Rl shares, to be posted to
shareholders on June 15. 1
Cfaewton Grade
cO..' _m i . Doc. ». Dec. 21. May 19.
Or -rallied, . . 230 204 37.1
Gold. ox. ... -70- .. -7flU " Sn 3
- Grade, dwt. a ton. o;i '6,0 . 3io
EldoradoTennant Creek
! T Creek',' Gold Mine
. L,td' has declared a dividend of 3d. per
share, payable on June 3. Books close oi»
$