COMMERCIAL

Evening Star, Issue 19388, 23 October 1926, Page 2

COMMERCIAL

LONDON MARKETS. The Otago Farmers’ Co-operative Association,Ltd., Las received the following cable from London ; —“ The butter market is steady, but generally trade is slow after increased demand last weekend. New Zealand, 144 sto 1465. Cheese, quiet, 80s to 82s. Lambs: Market continues firm; supplies reduced, demand increasing. Mutton; Firm, excepting owes; market rather weaker.” PACIFIC STARR-BOWKETT. The twenty-first annual meeting of the Pacific Starr-Bowkett Society was held on Tuesday evening. The annual report stated; — iu No. 1 group the windmg-up process was now proceeding, and subscription capital was being refunded to the shareholders concerned. Although the aggregate profit in this group was not large, the sum per share amounted to £l2 14s, which was considered highly satisfactory. in No. 2 group the expenses or management had been further reduced. There were fifteen dusters containing sixty-eight shares yet to be drawn in this group, which had now completed its fifteenth _ year. During the year two appropriations each ot £SOO had been made, the premiums earned being £SO. The repayments in No. 3 group now balanced the subscription income, but was all absorbed in withdrawals. Two appropriations, each of £I,OOO, had been made, and the premiums realised amounted to £3BO. . . In No. 4 group three appropriations each of £I,OOO were disposed of, two by ballot. The total premiums amounted to £534. A further increase in the member-’ ship of No. 5 group was shown by the allotment of 177 shares, and except for the sale of lapsed shares, the list was dosed with a full issue. Three appropriations each of £I.OOO wore made during the year, two of which wero by sale. The premiums earned amounted to £784. During the latter part of the year it was the intention of the board to proceed with the establishment of No. 6 group, and some applications for shares had been received. The flotation, however. had been delayed, pending the proposed revision of the rules, it being the desire of the directors to offer intending members a still better proposition, and proposals to this end would ho submitted to shareholders at an early dale. Mr J. H. Hancock, chairman of directors, presided, and congratulated the shareholders on the conclusion of another year’s successful service. The society has now reached its majority, and has proved its value in that it has advanced to its members close upon £150,000, most of which was lent free of interest. He stated that tho establishment of the latest group (No. 6) had been delayed a little ponding certain revision of rules which the directors would shortly discuss with the shareholders. The adoption of the annual report was seconded by Mr A. M'TTutchon. The retiring directors, Messrs Hancock and Broad, wero re-elected for a further term, as also were the auditors, Messrs George Blyth and Co., and E, 3EL Fultoiv