COMMERCIAL.

Evening Star, Issue 14627, 25 July 1911, Page 8

COMMERCIAL.

I In reporting on the hemp industry in | tho ' Journal' of the Department of Agrij culture, Mr W. H. Ferris, chief grader, states that "it is regrettable to see the manner in which flax is allowed to bo cut l in many swamps. Tho flax is cut right down to the butt. As a consequence, the resulting hbro is badly stained; not only this, but the crown of tho flax plant, 'being left exposed to the w.ea.ther, especially to frosts, its future development is retarded, if, indeed, a year's growth is ' not altogether Inst. It is pleasing to report, however, that many millers exercise duo (supervision over tho cutting operations, and .see to it that the leaf is cut well from the butt. The result justifies this care many times ovar. Tho outlook for millers is more encouraging than it has been for somo time. There is a stronger inquiry from overseas buyers, and the tone of tho market has decidedly improved." In 1909 the Government guaranteed Id per pound clear to all exporters of approved varieties of apples. Owing to the partial failuro of tho Nelson shipment they had to pay between £3OO and £4OO This year a partial guarantee was given, the Government guaranteeing a ponny per 1b so long as the total payment did not exceed £325. In this connection the various fruitgrowers' associations in the Dominion arc being circularised by the Moutere Fruitgrowers' Association to impress upon the .Minister of Agriculture the importance and urgency of granting a full guarantee of Id per lb on all apples exported for at least one more season. It is felt that it is net too much to ask tho Government to come to the assistance of the fruit export trade, which is just in its infancy, and which promises, with careful handling, to assume very large proportions in the not distant future. THE WOOL SALES. Press Association—By Telegraph—Copyright. [Delated in Transmission.] LONDON, July 24. (Received July 25, at 8.40 a.m.) The following arc the prices realised for the fleece portion of the clips mimed : Titirangi, top Is, average 9jd ; Pare, top lid, average 9-jd ; Mount White, top 34d, average 22id; Mendip Hills_, top 13d, average 12,? d ; llauiti, top led. average Hid: Turu| top lOd, average 9gd ; Ohuka, top 23d, average 21 £d. A miscellaneous selection was offered, prices being unchanged. To date 110,868 bales have been offered, and 98,108 sold. THE WHEAT MARKET. Press Association—By Telegraph—Copyright. [Delayed in Transmission.] LONDON, July 24. (Received July 25, at 8.40 a.m.) Six thousand five hundred tons of July shipment sold at 53s 3d, two cargoes at 33s 4 Ad, a third at 33s 6d, and a fourth at 335. THE MARKETS. Press Association —By Telegraph—Copyright. [Delayed in Transmission.] LONDON, July 24. Hemp -. Inactive. Juno and August shipment, £2l. Jute (native) : First marks. August shipment, £2O 10s. Cotton : July and August, 6.59 d. Rubber, 4s 7J,d. Copra : Flat. South Sea, a small supply, £24 ss. Rabbits : Quiet and unchanged. Copper: Spot. £56 15s : three months, £57 12s fxi; electrolvtic, £SB 12s 6d. Tin : Spot, £121: three months, £lB4. Lend, £l3 12s fxl. Silver, 24£ d per oz. FROZEN MEAT TRADE. CHRISTCHTJRCH, July 25. The British and New Zealand Meat Company have received the following London cable :—" Mutton, Canterbury 3|d to 31d, North Island 3 7-16 d to 3 9-16 d ; lamb, Canterbury 4gd to 5-gd, North Island 4§d to sd; beef, hinds 3id, fores 2id." MUTUAL HELP BUILDING SOCIETY". The fifteenth annual report of the Mutual Help Terminating Building Society states : The membership stands at 263 members, holding 717 shaies, made up as follows: 30 members holding 243 shares carrying free loan, 72 members holding 222 shares carrying: premium loan, 107 members holding "242 shares mtrblrs still to be drawn, 4 members holding 10 shares (appropriation drawn, but coming in under clause D. Rule 46) : total, 263 members, with 717 shares. During the year £4,675 have been advanced by way of Joan, as against £6.450 last vear. 'The total loams issued amount to £76,575, of which £29,9X0 have been repaid, leaving at this date 152 members, holding 465 shaies, with mortgages made up ae> follow:—80 members holding 243 shares holding free loans, repavments of which amount to £7,855 lis lOd; 72 members holding 222 shares holding premium loans, repayments of which amount to £7,061 12s '4d; total, £14,917 4k 2d Tho withdrawals for the year are £6.275 9s. This amount represents 90 shares with appropriations and 89 shares without. The profit aJid loss account now stands at £5,058 18s lid, showing an iii'-re-'se of £751 10s 3d. or equal to about £7 Is Id ppr share, stu against £4 15s of previous year. The interest on tho 2 per cent. premium loan amounts to £671 4s Id. CHICAGO BANK AMALGAMATION. A bank' amalgamation of the first magnitude is announced. It embraces the Continental National Hank and the Hibernian Banking' Association. The former is the outgrowth of numerous consolidations during the pa.*l ten years, one of tho most important firms absorbed being the Commercial National Bank. Messrs Armour are credited with being tho largest *tockowners. and Mr Clary is supposed to l>e the second largest holder of capital. The Hibernian Hanking Association is the oldest .savings bank in. Chicago. The total assets of both concerns "reaches a, total of 265,000.000d01s (£53.000,0000), an amount second only to tho funds of the National City Bank of New York.—' Times ' Chicago correspondent.