BUILDING SOCIETY

New Zealand Herald, Volume LXXVI, Issue 23479, 17 October 1939, Page 3

BUILDING SOCIETY

NORTHERN CO-OPERATIVE MORE RECORDS ESTABLISHED INCOME LARGELY INCREASED Further records in income and cash advances were established by the Northern Co-operative Terminating Building Society in the year ended August 31. Income for the period was £31,202 higher at £2Ol ..370, which is the largest increase ever recorded by the society. The amount advanced to asmbers was £158.422, which constituted a record, and was £32,614 more than in the previous year. The report states that this indicates the great work which the society has accomplished in catering for the housing needs of the community. It is emphasised that the' directors have continued to scrutinise carefully all properties submitted for mortgage advances to ensure the necessary measure of security. Included in the figure of £loS J 122 for cash advances is £11,047 advanced to members during the year as temporary loans on the security of their shares. Assets have reached the record total of £776.133. The report adds that since the society's inception, the upward trend has been continuous, and it is' now substantially the largest terminating building society in New and probably in New Zealand and Australia. The profit in each share group ranged from 2s 7d in group 31 to £l9 4s 7d in group five. Six new special groups, Nos. 30 to 35, comprising 3000 shares and having appropriations' of £1200; " commenced during the year. Group 3G is now filling. Annual dividends were paid for the - first time on ordinary group shares on which subscriptions had been continued for at least 15 years. Eligible members in groups one to seven again will receive 10s a share,'while members in groups one to eight will become eligible in the current financial yeir. On those shares issued under rule 178 on which mortgages have been repaid, an . unchanged dividend of 2 per cent per annum will be paid. Working expense ' levies of Is 9d a share on groups 20 to 32 inclusive are payable in November., Regret is expressed at the dt'ath of Mr. J. B. Henry, a .member "of "the directorate since 1932. The number of directors has been reduced to five. The retiring directors, Messrs. H. C. Savage and J. A. Warnock, are eligible for re-election. HAMILTON FIRM'S YEAR STARR-BOWKETT SOCIETY .. [FRO3I our own correspondent] HAMILTON, Monday "Since the incorporation of the society £67,200 has been appropriated, while premiums received on amounts allotted by ■ tender totalled £6072," states the annual report of the Hamilton Starr-Bowkett Building Society for ' the year ended August 4. During the year appropriations totalling -JoOOO were made available to members, £3OOO being by ballot and £2OOO by tender. Accumulated profits stood at £6729, an increase of £322 for the. year. ,;This' represents £8 6s l'ld a share. No levy for working expenses would be required for the ensuing year. Dr. F. D. Pinfold and Mr. F. Bullock are the retiring directors. " The'statement of accounts showed assets valued at £36,494. GRAIN AND PRODUCE CANADIAN ONIONS DUE SOUTH ISLAND POTATOES SHIPMENTS NEARING END Following is the official market report issued by the Auckland Grain, Seed and Produce Merchants' Association. Prices named are f.o.r. or f.0.b., Auckland: — 'POTATOES It is apparent that supplies ct South Island potatoes are now nearing the end. and it is not likely that there will be many - more shipped to Auckland. The \\aimarino is arriving within a day or so with a small shipment. In the meantime, however, the current price for South Island reds and whites remains unaltered at £2l a ton, delivered citv or f.0.r., Auckland. As regards Canadian potatoes, further arrivals are due and should meet with a ready sale. - ONIONS A shipment of Canadian onions is arriving and there will no doubt bo-a res-dy demand for these, at 255. a bag delivered city or f.0.r., Auckland. "WHEAT The special cash with order "10-sack deliveries were completed last week. The of these deliveries will be made during November at a date to be notified later: Ordinary ex store values remain unaltered at 7s 3d to 7s 4d a bushel. , " - BARLEY - - ' Special cash with order deliveries are now takinsr place and will continue until the end of the week. Barley, prices remain unaltered, ex store values being 4s 6d to 4s Sd a bushel, for undipped, with clipped 6d a bushel lusher. Mjaa , Steady sales of maize have continued to tako place, supplies being ample to meet the demand. Current ex store prices are ,s 4.1 to 7s fid a bushel according to quantitj, while 10-sack lots, delivery direct cx supplies to arrive, are 7s Id a bushel. N OATS AND CHAFF Values continue to remain firm for these commodities, business being steady. Latest values are chaff, £lO 7s Od to £lO Ijs a ton, oats, is Id to Is i?d a bushel. BRAN AND POLLARD Although there., has been a steady inquiry for bran and pollard,.< merchants anticipate that a still heavier, demand will now set in at the reduced prices now effective. Australian pollard ranges from £7 10s to in ."is a ton, with Australian bran at £. l,>s to £S 10s a ton. PUKEIvOHE PRODUCE „ NEW POTATOES 34/- PER CWT. [from our own correspondent] PUKEIvOHE; Monday _ • Excellent weather has brought - the new potato crops at Pukekohe ahead rapidly during the past week. The quantity being dug is increasing and the samples are improving. The demand is expanding and readily absorbing the.. increased supply. price is 34s per cwt. f.o.r. Pukekohe, at, which figure the market appears to be fairly firm. ■_ • Cauliflowers are coming forward in somewhat shorter supply than they were a week ago, and the price has hardened in the period from 6s a Chapman bag to 7s 2d, and from-Ss Od a sack to lO.s Gd. Dnimhcad'H-nhhages. remain at os a Chapman bag,*and Ts 2d a sack, while Enfield 1 -spring cabbages are now. available and are selling 'it Os a Chapman bag and Ss 9d a sack. Carrots arc stil) at lis G<l a sugar bag and. swede turnips at 4s _6d, with supplies of carrots rather limited. R . Onion plants continue to brnig os bcl to 9s 6d a thousand, .cabbage plants .'s--3d to 10s 6d, and cauliflower plants 10s>6d .to lis 6d. ; Tomato plants remain at -Is to Ss a tray of SO. *