COMMERCIAL.

Evening Star, Issue 14184, 8 October 1909, Page 6

COMMERCIAL.

Mr W. H. Adams presided at a meeting of members last evening of the Otago Mutual Starr-Bowkett Society. The free loan was drawn by cluster No. 217, held by two members, while the premium Joan fell to a member holding five shares in cluster No. 117.

London advises that the bank rate is 3 per cent.

AUSTRALIAN RECIPROCITY.

Press Association—By Telegraph—Copyright.

MELBOURNE, October 7. In reply to a a nest ion in the Federal Senate as to whether any steps bad.been taken to secure reciprocity with New Zealand, especially with a view to getting Australian fruit and whies .admitted to the Dominion on more advantageous terms,' Senator Best said that Mr Deakin and_ himself had intended to discus* the subject with Sir J. G. Ward when the Latter arrived in Melbourne, but Sir Joseph’s return direct to Now Zealand had prevented such a course. He would confer with Mr Deakin with a view to opening up negotiations. UNITED STARR-BOWKETT. The ninth annual meeting of the United Starr-Bowkett Building Society was held iti uid cnJl room, Stock Jc?6fc night. Mr E Roeevear occupied the chair, and there was a good attendance of members, including a-immbor of ladies. The Chairman, m moving the adoption of the report (already published), said that it was pleasing to see the progress of tte society, and that it was fulfilling the object for which it existed, which was to enable members to acquire their own property at cheap rates and on terms not obtainable from other societies. The money the society had advanced was an ample justification for its existence, and a number of homes were the happier, as they were living on their own property. In New Zealand there were over seventy terminating building societies, and during the last financial year the receipts amounted to £1,200978, which showed the confidence the people of 1 ew Zealand had m societies similar to their own. The credit to the profit and loss account stood at £6,329, which was almost £7 a share. During the past year the number of appropriations had been twelve—six by sale and six by ballot. The premiums had realised £432, and the repayments had not caused any serious worry to the diroctorß, which went to show tho of shareholders and the class of mortgage had., A good deal of credit was due to Mr 'G.' bunpeon, who had acted as the society e valuer. Mr Simpson was at present' absent from New Zealand, but his position was most capably filled by his son. To show how economically the society had been managed, the cost this year had been £215 11s 4d, against £295 18s 3d for the previous year. The shareholders should do all they could to get fresh members. The directors had appointed agents, and this had been a means of adding considerably to the number of shareholders. The directors had worked most harmoniously, and the staff had carried out their duties most efficiently. Mr C. Arnold seconded the motion, which was earned after a slight discussion.

Messrs A. M‘Kentio and H. C. Gampbell were re-elected directors, and Messrs G. Blyth and J.* Mitchell auditors at the same remuneration as formerly. The 105 th ballot for £SOO in No. 1 group was then taken, and cluster 75, held by two shareholders, was successful The sale of the 106lh appropriation in the same group resulted in £4OO realising £l4 10s premium, and £IOO realising £lO premium. The sale of the eighth appropriation of £SOO in No, 2 group resulted m £4OO realising £39 premium, and £IOO reahwng £29 lOis premium.