HIRE PURCHASE TRADING

Press, Volume XCII, Issue 27795, 21 October 1955, Page 17

HIRE PURCHASE TRADING

SYSTEM “HAS COME TO ! STAY” I "Your board feels that hire purchase has come to stay in all communities and that the facilities provided by those engaged in and associated with this type of business should not be severely handicapped. particularly as the example of other countries suggests that New Zealand has a long road to travel before it approaches the level of hire purchase business in, for example, the United States, the United Kingdom, and Australia," said the chairman, Mr p. W. Bain, at the twentieth annual meeting of- the South Island Finance Corporation. Ltd.. In Christchurch. "It was hoped that the Government would not legislate further to restrict the hire-purchase of capital assets. The hire purchase and stabilisation regulations introduced in July had undoubtedly curtailed sales in the vehicle market, said Mr Bain. Mr Bain said that there, had bean a general lowering of prices for used cars in the last year but dealer, appeared.to have anticipated the iaU and bwdnee, had been steady throughout the year and there had been no suggestion of substantial losses on stocks. The retiring director. Professor A. J. Genka, was re-elected.

DEVELOPMENT LOAN CHRISTCHURCH TOTAL NOW £90,500 Chriatchurch subscription, to the National Development Loan reached £90,500 at the close of bturineM yesterday. *niis money has come from TO applicants. Yesterday IS applicant, invested *13.800. The biggert contribution so far is £6OOO. There ha, also been a contribution of *5OOO and two of £4OOO. STOCK SALES ST. ANDREWS •TM Frw«“ SpMiql Service TIMARU, October 20. There was a wide range in quality and breeding in th® 140 head of tat cattle offered at St. Andrews stock sale today, with widespread competition. Values, taken overall, showed little chmige, although in the closing stages a slight easing was noticeable. The penning of store cattie was also a very large one and very mixed in breeding, age, and condition. Good sorts held most attention, with values for this class of cattle hardening if anything on recent auctions. Few sheep were offered. Values were:— Fat Cattle.—Fat steers, good, £42 2s 6d to £45 12s 6d; medium, £36 17s 6d to £4l 2s 6d; light, £27 2s 6d to £3l Is 6d. Fat heifers, good, £3B 2s 6d to £4O 2s 6d; medium, £32 2s 6d to £33 17s Sd: light, £26 2s 6d to £27 2i 6d. Fat COWS, good, £2B 3s 6d to £34 2s 6d; medium, £24 28 6d to £27 2s 6d; light. £lO to £l4 17s 6d. Store Cattle.—Two and three-year-old steers, £24 to £2B. Yearling steers and heifers, £l3 to £l6. Calves, £6 to £• 10s. Empty cows, to £l9. Bulls, £l3 to £33. Store Sheep.—Ewes and lambs in the wool, to 40a 6d. Shorn wether hoggets, to 525. WOOL BOARD’S LEVY (New Zealand Press Association) WELLINGTON, October 30. The levy fixed by the New Zealand Wool Board on wool produced in New Zealand for the season starting October 1. 1955, is announced in tonight's gazette. The levy is as follows: tor each bale, 2s 6d; for each fadge. Is 3d; for each bag or sack, sd. MINING Chith a River Dredge.—Operating at Alexandra in the week ended October 14, the dredge worked 116 hours and recovered 104 ounces of gold.—(P.A.) Bank of New South Wales.—A final I dividend of 9s a share is announced. Ex, November 5.—(P.A.) John Bulleid and Co.—Dividends of 6 ; per cent, on both ordinary and prefer- > ence shares are recommended. Ex, October 11.—(P.A.)