THE MORTGAGE CORPORATION

Evening Star, Issue 22030, 16 May 1935, Page 7

THE MORTGAGE CORPORATION

ATTITUDE Of PARSERS COMMENT BY HR POISON [Per United Press Association.] WELLINGTON. Mar 15. ' An explanatory comment on the Mortgage Corporation Act and the Rural Mortgagors Final Adjustment Act was made by Mr W. J- loison, M.P. at a meeting of the Dominion Executive of the New Zealand Farmeis Union. Flc referred to the division ot opinion that had been revealed among various brandies of the union, and said they had to show a united front. It, after the Dominion Executive decided upon a certain course of action, members went home and proceeded to throw spanners into the works, it made it very difficult' for himself in jiarticular in endeavouring to get the job done as they wanted it done in another place. He thought the second Bill was a charter of liberty for the farmer. The farmer ought to be able to forge ahead. If he did not, God help the rest of the community, because things would be so bad that nothing would gave the situation. . It was decided by the meeting to have a discussion on the legislation later. RESERVE BANK ACCOUNTS NET PROFIT Iff £28,854 [Per United Press Association-.]

WELLINGTON, May 15. A balance to credit of profit and loss of £28,854 3s 8d is shown in the accounts of the ‘Reserve Bank of Ne\v Zealand for the period ended March 31. 1935. The report of the board of directors, which is signed by the governor (Mr L. Lefeaux), and which is to be submitted to the shareholders at the first ordinary general meeting on, Friday, June 7, states that after the payment of the expenses of administration, contribution to the staff pension fund and provision for sundry liabilities and contingencies, the net profits amount to £28,854 3s Bd. The board recommends that of this amount the sum of £25,000, representing 5 per cent, on the paid-up capital, be paid ns a dividend to shareholders, leaving a surplus of £3,854.3s 8d for payment into the Public Account to the credit of the Consolidated Fund, in accordance with section 36 of the Reserve Bank of Now Zealand Act, 1933. Tiie holders of shares of the bank as at March 31, 1935, numbered 6,359, with an average , holding of approximately 16 shares.

ADDINGTON STOCK SALE [Pen United Pkess Association.] CHRISTCHURCH, May 15. There was an easing m values in both the fat cattle and fat sheep sections to-day. Ewe lambs sold at improved prices, and fat lambs held recent values. . Store Sheep.—There was a good demand for ewe lambs, which were better by Is to Is 6d, Adult ewes and wethers sold at recent rates. Good ewe lambs brought 19s 6d to 20s; average, 16s (id to 17s 9d; rape lambs, to 14s lOd; others, 11s 3d to 12s Gd; medium four, six, and eighttooth Romney ewes, 19s to 21s 7d; ordinary two-tootli half-bred, to 20s 7d; sound-mouth half-bred, 15s to 17s 3d; sound and failing-mouth, 12s 6d to 14s 3d; aged and inferior, 9s 7d to 11s 6d; good young half-bred wethers. 18s 6d to 19s 9d.

Fat Sheep.—There was ft slightly smaller entry than last week, but a slack sale., Butchers’ sheep were down by 2s per head and freezing by Is to is Cd. Exporters were buying much less freely. Extra prime heavy wethers made to 29s JOd; prime heavy, 24s to 26s 6d; prime medium-weight, 22s to 23s 6d; light and ordinary wethers, 15s to 21s; extra prime heavy ewes, to 25s lOd; prime heavy, 18s 6d to 21s 6cl; medium-weight prime, 15s 6d to 18s; ordinary, 11s Cd to 14s 6d; light, to 10s Gd. Fat Cattle.—There was an oversupply, comprising 755 beau, wind' included some good beef from all South Island provinces except ..Nelson. Values dropped back by 15s to 20s a bead for good beef, lighter sorts being very difficult to sell. Good beet made from 21s to 23s per 1001 b; someextra quality, to 24s Cd; best cow, from IBs to 20s; heavy steer, to 21s; ordinary quality steer, from IGs to 19s; ordinary cow, from 13s to 15s; and rough, down to 10s per 1001 b. Extra prime heavy steers made to £l2 7s Cd; prime heavy, ,C 8 10s to £lO 10s; prime medium-weight. £7 Is Cd to £8 15s; ordinary. £4 5s to £7; extra prime heifers, to £8 2s Cd; prime, £5 to £G 15s; medium, £3 10s to £4 10s; light, to £2 15s; extra prime cows, to £7 17s Cd; prime, £4 5s to £5 15s; ordinary. £2 15s to £4; light and aged, to £2 10s. Fat Pigs,—There was a small entry, the scarcity of good porkers being pronounced. There was a keen sale for good quality pigs. Choppers made £2 Cs to £4 Is Cd; baconors, 50s to £4 Is; average price ner lb. 5d to 5Jd. Porkers brought 26s to S Os; average price per lb, 6Jd to 5Jd.