COMMERCIAL

Evening Star, Issue 17369, 3 June 1920, Page 8

COMMERCIAL

STAER-BOWKETT SOCIETIES. —Dunedin.— A meeting of the Dunedin Starr-Bow-kett Building Society was held in the Oddfellows' Hall, Stuart street, last night, Mr S. Smith being in the chair. The eighty-sixth appropriation of £SOO in No. 3 group was sold at a premium of £24 per cent. The twelfth appropriation in No. 4 group was sold—£3oo at a premium of £3B per cent., and £2OO at £3O per cent. —Pacific— Mr J. H. Hancock, chairman of directors, presided over . a meeting of the Pacific Starr-Bowkott Building 'Society held on Tuesday night, when'eight appropriations, each of £SOO. were disposed of. Tho following was the result of the draw : No. 1 group, free ballot: 122 nd, cluster No. 2; 123 rd. cluster No. 38; 124 th, cluster No. 27; 125 th, cluster No. 14: 125 th, cluster No. 25. No. 2 group : Tho thirtv-sixth premium ballot, which was the first at tho reduced premium of £lO per £IOO, brought numerous applications, and was secured by on© shareholder. Tho thirty-seventh free ballot in this group was "drawn bv cluster No. 35. No. 3 group : The third free ballot of £SOO was drawn by cluster No. 43. Tho Chairman 'announced that' very satisfactory progress was being made with the new group, and requested shareholders to use their best endeavors to get the balance of the shares placed. - FUR SALES. Mr R. S. Black has received a cable stating that grey fox, civet cat, wolf are about 25 per cent, and ringtail cat about 30 per cent, lower than at February auction sales. Mr Black informs us that the value of this present sale is roughly £8,000,000. Messrs Funsten writo : " The" Federal Reserve Bank in this country expect to see a lowering in values in all commodities, and on that account are reluctant to extend credit to their member banks as freely as they have done in the past. This has brought about a tightened condition in the money market. Labor, on tho other hand, is commanding unusually high wages, and is very much employed. •With labor commanding such high wau'es. there is every probability they will continue to spend their earnings on luxuries, which will have tho effect of maintaining prices of those articles." WOOL MARKET GLUT. LONDON, June 1. At the wool sales a large offerine; of merinos was catalogued, but two-thirds were withdrawn. Prices were the sarno as on the opening, day. A fair selection of cross-breds wae offered, but tho low prices led to heavy withdrawals. LONDON WOOL SALES. Messrs Dalgety and Co., Ltd., report having received the following cable from their head office, dated London May 51, 1920 : —" Wool sales opened ; attendance of buyers is up to the average ; competition poor; good selection. As compared witli last sale's closing rates, merino wools good quality, 20 per 'cent, lower ; merino wools, medium sorts, 15 per cent, lower: faulty merino wools. 15 per cent, lower; cross-bred wools, fine quality, 10 to 15 per cent, lower; cross-bred wools, medium quality, 5 per cent, lower; coarse crossbred wools, prices rather lower; crossbred slipe and scoured wools, 10 to 15 per cent, lower."