COMMERCIAL

Evening Star, Issue 17850, 22 December 1921, Page 12

COMMERCIAL

Mr A. Sligo presided last night at a .nesting of the Dunedin Starr-Bowkett Building Society. In the No. 5 group the 110th appropriation, of £SOO was offered for sale. £3OO was sold at £lB per cent, and £IOO at £l2 per cent. The 111th appropriation of £SOO was disposed of by ballot, cluster No. 53, held by on© shareholder, being drawn. In the No. 4 grpup the 29th appropriation of £SOO was disposed of by ballot, cluster No. 200, held by one shareholder, being drawn. The 30th appropriation of £SOO was disposed of by sale. £IOO at £SB, £3OO at £3l, and £IOO at £l7. LONDON SHARE MARKET. LONDON, December 20. Waihi shares: Buyers 17s 6d, sellers 20*. Dalgety and Co., £63 10s. —A. and N.2. Cable. BERLIN EXCHANGE RATE. LONDON, December 20. The Berlin Exchange rate is 745 marks. -A. and N.Z. Cable. BUTTER MARKET IN LONDON' The Prime Minister has sent the Go-vernor-General! the following message for transmission to the Imperial authorities : The Prime Minister begs to advise His Excellency that he is in receipt of a cablegram from the High Commissioner which disc lows the position which has arisen in connection with stocks of Now Zealand and Australian butter held by His Majesty’s Government, which will have a most serious effect upon the producers in Now Zealand and upon the Dominion as a whole if the understood intention of His Majesty’s Government is given effect to at once'. The High Commissioner advises that the Treasury has notified the Board of Trade that it must immediately realise on the remaining stocks of butter, which amount to approximately 8,000 tons of New Zealand butter and 14,000 tons of Australian. The Board of Trade is stated to bo willing to sell all these stocks at an exceedingly low price, and if (his sale is made, and low-priced butter is placed upon the market, it must have the effect of so depreciating the market values for all butter that New Zealand producers will suffer most heavily. The Prime Minister is in communication with the High Commissioner in the matter, and respectfully requests that His Excellency wilt cable the Right Hon. the Secretary of State for the Colonies and request that action be (relayed by the Board of Trade until the New Zealand Government can be enabled to go thoroughly into the matter. His Excellency’s Ministers fully realise the position of His Majesty’s Government in holding these large stocks and desire to liquidate them, but the seriousness of the consequences which must follow if the proposals of His Majesty’s Government are at once given effect to is such that they feel ft urgently necessary to request sufficient time be given to enable the proposals for meeting the position to bo considered.”