MONEY CLUB.

Press, Volume LXIII, Issue 19057, 20 July 1927, Page 12

MONEY CLUB.

CHRISTCHURCH AND ST. ALBANS ♦ The annual general meeting of the Christchurch and St. Albans Money Club was held at the offices, Cashel street, last evening. The president, Mr J. Evans, was in the chair, and there was a fair attendance of members. The seventeenth half-yearly report stated that,the capital of the Society was £71,666 2s Id, an increase of £2553 9s 3d during the half-year, Bnd £4974 lis lOd for the year. Loans amounting to £7334 were granted during the half-year. The total lent to date was £316,898 6s. sd. The profit and loss account showed a credit of £2608 13s 9d. The committee recommended a dividend as follows: (1) Un all amounts standing to members credit on June 30th, 1927, up to £IOO, the sum of 8d in the £ on each complete 10s. (2) On all accounts standing to the credit of members on June 30th, 1927, in excess of £IOO the sum of Sd in the £ on each complete 10s on the first £IOO, and 5 per cent, per annum on the balance on each complete 10s. There were 1361 members holding 7052 shares, an increase of 33 members and 109 shares during the last six months. The chairman, in moving the adoption of the report and bal-ance-sheet, stated that it was his pleasing duty to congratulate members on a successful half-year's working. The committeo had voted the usual dividend at the halfyear ending December laßt, and as business during the last half-year had been good the same dividend was again available. During the year the Society had grown considerably. The capital had increased £6975, and the profit for the year was £5130. There had been a general increase in members and shares showing that the benefits to be derived from the Society were fully appreciated. He was pleased to be able to report that there had been a decided increase in small loans, and this part of the Society's business was gradually growing. Whilst the. Society was moving along on such sound and substantial lines there was very little necessity for him to enlarge on the -work done during. the year, except to thank the office staff for the manner in which it had carried out its duties during the year, and the_ executive for the loyal support accorded him. • The report and balance-sheet were adopted. Mr J. Evans was re-elected president for the ensuing year. . A vote of thanks to the chairman closed the meeting. TINWALD STOCK SALE.

Tho fact that some 200 farmers have gone to pay a return visit to the West Coast farmers who recently visited Ashburton was mainly accountable for only a moderate attendance at the Tinwald yards yesterday, but it did not lessen the values of fat sheep, for it was one of the best sales which have taken place for a long time, there being a rise of fully 2s 6d a head in valueß, There were also many specially prime ewes and wethers offered. More than a usual number were passed at auction, but those which were sold elicited spirited bidding. The total yarding waß 1199, and in the fat pens there were 181 ewes, 105 wethers, and 65 lambs. The stores numbered 848, and there were 29 head of cattle. Mr G. R. Watson, of Westerfield, topped the market with 38s for a pen of 6 wethers, and for a pen of 7 he obtained 37s Id, and for a pen of 9d 365. A pen of 5 ewes, sold on account of Mr Watson, realised 33s 3d, while Mr W. Strange, of Riversdale, Tinwald, got 34s 6d and 34s 3d respectively for two pens of 6 ewes, a record price for fat ewes for a long while. A pen of 5 wethers, sold on account of Mr Strange, realised 37s 63, while Meßsrs J. and E. Long, of Kyle, obtained 36b 8d for a pen of 5 wethers. The principal sales of the day were:— Ewes —2 at 17s 6d, 16 at 20s, 10 at 21s lOd, 13 at 33s Id, 6 at 34s 3d, 6 at 34s 6d, 20 at 225, 6 at 80s 9d, 4 at 255, 8 at 16s 3d, 9 at 19s, 9 at 20s. Wethers—s at 36s Bd, 5 at 37s 6d, 14 at 365, 6 at 28s, 7 at S7s Id, 9 at 365, 5 at 83b 9d. . Lambs —A line of 50 lambs was passed is at 19s, but several single lambs offered realised up to 28s. Stores —The store sheep sale was again a disappointing one, the present and prospective shortage of feed making graziers operate with extreme caution. Sates were: 16 Bound-mouth halfbred ewes at 18s, 47 four-tooth crossbred ewes at 34s 3d, 70 throe-quarterbred wether hoggets at 17s 7d, 10 lambs at 13s 6d, 15 . tbree-quarterbred mixed sex hoggets at 23s lOd, 67 crossbred wether hoggets at' 16s Bd, 58 failing-mouth halfbred ewes at lis 9d. . Cattle —Forward steers realised £5 15s to £7, empty ewes £6 7s 6d to £B, cow in profit £5 ss, springers £5 2s 6d to £7 7s. 6d; eight 18-month-old mixed sexes brought £1 3s each.

PLEASANT POINT STOCK SALE.

The following prices were realised at the Pleasant Point stock sale, which took place on Monday:— Fat Ewes—s at 10s 3d, 13 at 235, 9 at 12s 6 , 17 at 26«, 16 at 275, 47 at 24s 6d, 20 at 225, 16 at 15s 9d, 14 at 21s 6d, 107 at 26s 7d, 6 at 15s, 10 at 26s 3d, 3 at 20s, 12 at lis, 26 at 13s, 12 at 26s 6d, 27 at 20s 6d, 11 at 20s 9d, 19 at 19s 6d, 14 at 24s 3d, 4 at 10s 6d, 19 at 16s 3d, 27 at 245. Store Sheep—43 ewes at-35s Bd, 16 ewes at 10s, 29 ewes at 17s 3d, 12 ewes at 14s, 86 ewes at 35s 2d, 38 ewe hoggets at 255. 100 ewe hoggets at 25s 3d. Fat Lambs—l 3 at 19s, 11 at 22s 3d. Fat Wethers—3 at 34s 9d, 6 at 35s 6d, 147 at 30s, C at 31s, 11 at 27s 9d, 4 at 32s 6d, 10 at 37s 3d, 10 at 28s, 5 at 37s Gd, 7 at 42s 3d, 15 at 36s 9d, 40 at 34s 6d, 14 at 375, 11 at 355, 34 at 31s 7d, 7 at 295, 20 at 36s 3d, 14 at 33s 9d, 19 at 35s 4d, 54 at 325. Cows—i at £6 12s 6d; 1 at £3 12s 6d, 2 at £7 10s, 1 at £6 17s 6d, 1 at £6 ss, 1 at £3 7s 6d, 1 at £4 10s, 1 at £3 10s, 1 at £lO ss, 1 at £7 ss, 1 at £9 12s 6d, 1 at £6 10s, 1 at £9 ss, 1 at £8 10s, 1 at £3. Dairy Cows—l at £4 2s 6d, 1 at £3 15s, 6 at £ll, 1 at £3 10s, 3 at £3 2s 6d. Steers—l at £7 10s, 4 at £8 15s, 3 at £6 ss, 1 at £1 10s, 2 at £lO 10s, 1 at £6 12s 6d, 3 at £5 10s. Pigs—4 at 235, 7 at 24s 6d, 1 at 355, 4 at 14s, 1 at 355.

TOBACCO TRADE CONGRESS.

The first Tobacco Trade Congress was opened at Olympia in May. During the proceedings Mr Henry Ford was cited as a proof against the argument that there is only a limited amount of money in the pockets of potential purchasers. The great tobacco manufacturers, however, it was claimed, had demonstrated that highly efficient organisation could increase consumption and lower the cost of production. Particular attention was drawn in the discussions to the decline of cigar smoking and the need for helping the cigar to hold its own against the cigarette. The cigarette predominated at the exhibition, where there were machines which turned out cigarettes at the rate of 600 a minute, and the advertising campaign of the past year had helped to bring fhe consumption to itß present enormous figure. In a later discussion on the future of Empire tobaccos, Sir Henry Page Croft said that Empire production of unmanufactured tobacco increased from 13,000,000 pounds in 1923 to 19,500,000 pounds in 1924, and he believed the results for last year were even better. The representative of the High Commissioner for India pointed out that India now ranks second only to the United States in production, with an area under cultivation of 1,101,000 acres.

MORRIS MOTORS, LTD. At the annual meeting of Morris Motors (1926), Ltd., the chairman and managing' director (Mr W. R. Morris) said that, having regard to the difficult trading conditions' of last year, it was satisfactory to find that the company's profit on trading, after providing for full depreciation of assets, and including interest and dividend received, amounted to £1,001,634, as compared with £1,235,545 in 1925. The average profit for the three previous years was £1,072,781. To strengthen the position of the company no dividend was to be paid on the ordinary shares. As he controlled the whole of the ordinary shares it would be seen that such a decision did not affect the investing public, and would be a source of satisfaction to preference shareholders. Further, out of surplus funds preliminary expenses of £150,859 were to be written off, and £375,000 carried to reserve. Mr Morris added that during the year the company had continued actively to cultivate overseas trade. The success which had attended its efforts could be judged by the fact that an increase of approximately 100 per cent, of cars and chassis were sold in export markets, compared with the average of the three previous years. In the home market over 33 J per cent, more cars had been sold and delivered during the first four of 1027 than during the corresponding period of the previous year.

EGG AUCTION. Messrs Harris Bros., Ltd., report that the usual weekly auction sale of Feather brand guaranteed fresh eggs was held yesterday afternoon. The following prices were realised: Hen eggs, Ist grade (2os or over) 2s 3d: hen eggs, 2nd grade (under 2 o») 2s Id. ~9