THE MORATORIUM.

Press, Volume LX, Issue 18241, 27 November 1924, Page 10

THE MORATORIUM.

| FINAL EXTENSION OF | MORTGAGES. i I j ADVICE TO FARMERS. i ' The chairman (Mr J. D. Hall) of I the North Canterbury. Executive of the j Fanners' Cnion, at its meeting yesterj dav, briefly summarised the provisions of the Mortgages Filial Extension Act j passed during this year's session ct' ! Parliament. j .Mr Hall said that the Act provided j that anv mortgagor who required consideration t'rom the Supreme Court ! must make application to the Court j before January 31st. 1925. The applii cation must be in the form of a notice of motion. The provisions regarding j the extension of mortgages applied only ! jo mortgages executed prior to October ' l'4th. IVI9. and the extension order could extend the duo date for repayment to a date not. later than March 31st. 1927. There were, he added, a !*eod many formalities to be gone through and details ss to the evidence to be called, but it was absolute'., necessary for anyone who desired [' take advantage (A the Act to file, h:.--application before January 31st next. The secreary. Mr A. E. G. Lyttle, had a, enpv of the Act. Of the regulations under it, and if any member of any hriuich of the Farmers' Unic.n wanted to .get anv further information lie had only to get in touch with Air Lyttle. He would tell them what to do, but would not be able to prepare the notice of motic.n. Generally sneaking the judge had the sole decision as to whether it would he a kindness, and a reasonable kindness, taking into consideration the interests of ::11 parties, to extend the mortgage.

In urging prompt action Mr Hall mentioned t-hat the Ccurt would be in vacation for the greater part of January.

NEW ZEALAND PRODUCE. SCARCITY OF DOMINION BUTTER. LATE WOOL SALES. (from ous own correspondent.) LONDON, October 24. For tho fifth series of colonial wool sales some 196,633 bales were catalogued (73.18G bales being from New Zealand), and about 35,000 bales were held over and withdrawn. Messrs "VV. "VVeddel and Co. report that tlie advance in the opening of the sales of about 10 per cent, all round over July rates was during the fir3t two weeks augmented •by a further advance of 5 per cent. During the third week, however, this extra advance began to slip away, and at the clos-e prices were just about the same as on the opening day. Merinos, iherefore, can be quoted 10 per cent, dearer than in July. Croisbredb, with the exception of good medium sorts which are fully 15 per cent, dearer, show the same advance. Greasy crossbred lambs were quite a feature, at an appreciation of fully 20 per cent. Slipes conformed to the market, and rose slightly during the second week, but eased off again and closed at about opening rates, those of combing length being 7J per cent, up, with clothing wools Ift' per cent, dearer.

Dairy Produce. During the past two weeks the demand for butter has been quietly steady, although, with prices at the present high level,, this is all that can be expected, buyers'mostly confining their- operations - to immediate requirements only. Nevertheless, quotations have been fully maintained and in some instances slight advances have •to be recorded. The Waimana and Tairoa. have arrived carrying a total of about 30,500 boxes. Prior to these butters becoming available the market was practically cleared, and even now the quantity on offer is very limited. Unsalted is almost unobtainable, a premium of about 10s per cwfc being asked for the small quantity on offer. Notwithstanding the scarcity ?nd high prices ruling for New Zealand, tho demand for best quality Australian has been rather disappointing, and recent arrivals are only clearing slowly. Good secondary quality is in fair demand, but inferior quality is very difficult to place, buyers seeing . comparatively better valuo in Siberian. Best unsalted is also- scarce.

The l'anish output is reported" to be gradually decreasing, whilst the Continental demand is apparently increasing, resulting in buyers here having to meet .very substantial advances in prices in order to obtain supplies. This week as high as 248s per c.v t f.o.b. has been paid, equivalent to about '253s London.

During the past fortnight cheese has been a very disappointing market, the demand has been very alow, and sellers have been compelled to ease prices slightly in order to secure business; this being more applicable to ,New Zealand cheese. Canadian cable offerß have been fairlj steady, ranging Irom 92s 6d to 93s 6d j»r cwt c.i.f. for best sections. Tallow. The demand for all sorts of tallow, particularly on spot and near to arrive, has been well maintained, and at the close the market is very firm. At the auctions held here during the fortnight, 1794 casks were offered and keenly competed for, 1718 being sold. Values can be quoted at 2s 6d per cwt dearer on average, With good sorts selling to best advantage. Fine muttons were much sought after, and sold as high as 62s 3d per cwt. Messrs Weddel sp.y that business in Australian sorts for shipment lias been rather curtailed, owing to the high prices aaked at origin. Good colour mixed has been sold at 47s° 6d and 48s, and shippers are now quoting 48s 6d for further quantities. Beef tallow is enquired ait'er, but is offered. New Zealand supplies at origin are exhausted. Arrivals during the fortnight amount to 4114 casks. South Americans continue to advance, and prices on the_ fortnight's working are 9d to Is per cwt higher. For Olea products the market is firmer, and a considerable business has been done in extra beef premier jus on spot afloat and for near shipment, both with U.K. and the 'Continent. Little is now available before November-December shipment and packers have advanced their prices to 60s ■oer cwt. Prime quality is. quoted at 58s per cwt. South American stearine is still offered at 60s per cwt. Spot prices for Australasian are:—Wwte mutton tallow, 51s to 52s per cwt; good mutton tallow, 49s 9d to 50s 6d; fine beef tallow, ols to 535; .good, colour mixed, 49s to 49s 3d: dull to fair mixed, 4/a to 4<s 6d, gut mixed fallow, 40fl 6d to 45s -d.

New Zealand Meat. There lias been a lair demand for all desoriDtions of New Zealand mutton, and •prices liavo re&ained firm. Ewes have been rather a slow sale, but values are firm with decidedly better feeling. Quotations 011 October 17th were:-Small a ? d medxum, 34 and Sid per lb; hea\y, <id and Bd, "Si w-fif 2L °< buj era P haa howeTeri been a good deLand for and in V lllXcriptlins c l„ a firm, m - Canterbury and selected North Island K'S l. Oid and is 0&d and North Island Is and Is OW. experienced „ i 'KSbt'S i'« & «™f throughout tbe pasi enquiries are for W ;/toSCco°ntitnt C "The trade on shipment to the F narter prices are Snnthfield ls ® d a difficult sale. ve ry firm, but m demand, Janci Forward beet is geaW fore'quartera are C< qUoted at V«* hindquarters at 4 S d.

that this Company's unit system cr re forced concrete _ construction will sol e Zealand's building problem, and that toe mendoue busineea is ready and waitin . Thpv are moving their confidence in pro?ect bv P suh,cribing freely for to Don't confuse /is system wUh Wocka OT other method of building. Get a P r °?P e from Geo. H. Mason, Exchange Itaildtfigs, the Square, Christchurch or any Branch of the Bank of New Zealand, and see for your ■elf. *