BUILDING INSTITUTION.

New Zealand Herald, Volume LXIV, Issue 19762, 8 October 1927, Page 9

BUILDING INSTITUTION.

THE NORTHERN. SOCIETY. RECORD APPROPRIATIONS. The progressive development of the Northern Co-operative Terminating Building Society is reviewed in the fourth annual report, which states that , 15 groups, equal to 30 groups of 1000 shares each, are now operating. Group 16 will shortlj be completed, and new groups will be opened as required during the year. The income for the year amounted to £88,092, and advances authorised totalled £80,513 This compared with advances totalling £28,600 in 1924. £47,400 in 1925, and £71,130 in." 1926 The total mortgages bad reached £282,615 The record appropriations, amounting to £31,200, to be distributed at the annual meeting, would raise the total to £313,815 The profits earned since the inception of the society were:—£66os 3s lid in 1924, £12,287 18s Id in 1925, £16,038 4s 7d in. 1926, and £20,216 3s 6d in 1927; a total of £55,147 10s Id, which constituted a very substantial reserve The society is so cpnstituted that the profits, all of which belong to the members, who number almost 10,000, must accumulate for ten years , The directors have decided to levy a rate of Is 9d a share to meet the working expenses of the year Messrs J. A. War- j nock and H Clinton Savage are the retiring directors, and will be re-elected unopposed. PRODUCE AT DUNEDIN. MILLING WHEAT UNALTERED. [by telegraph.—own correspondent.] DUNEDIN, Friday There is no alteration in the market for milling wheat. Millers are still holding off. In the meantime the offerings from growers are small, and any odd lots com in are being sold for fowl wheat, the prices for which are as good as those for j milling. Good fowl wheat is at present worth 6s 6d per bushel, sacks extra, ex truck, and the price to farmers for milling wheat is quoted at 6s, sacks extra, on trucks, for tuscan, with higher rates for red chaff and velvet. Growers are still making a big effort to sow spring wheat At present it appears that the quantity of wheat available in the Otago district next season will be considerably less than it was after the last harvest. The freaking of the drought in Australia has caused the demand for oats from there to fall off Some merchants have received cablegrams asking them to cancel sales already made. From this. it appears that Australia will not want any more oats from New Zealand this seasou. The loss of this outlet, however, has not affected the market, as inquiries for supplies are being received from England Sales have already been made for export from New Zealand to England. The quantity of r.ats held by merchants and farmers is on the light side. Present quotations are 3s 6d per bushel, f.0.b., s.i., for A grade Gartons, and 3s 3d for B grade. These prices are equivalent to 2s 8d per bushel for the former, sacks extra, on trucks at country sidings, and 2s 5d for the latter. The present value of best quality chaff is £5 a ton, sacks extra, ex truck, Dunedin. Only good lines are inquired for, and other sorts are slow on sale, at from £3 10s to £4 10s a ton, sacks extra, ex store. The potato market is sagging, with mGre than sufficient supplies in sight to meet the demand, until new potatoes are available. Merchants are buying only from hand to mouth, and as there is pressure to sell on the part of the growers, prices are inclined to weaken. Only freshly picked lines are saleable, and for these up to £5 5s a ton, sacks in- | eluded, ex store, is obtainable. Other t sorts are unsaleable, and are in over supply. All the seed markets remain firm, with odd sales of ryegrass being made for export. Any lines of good germination are readily taken up for export, but most seeds this year are of poor germinating quality, and are very difficult to sell. Up to the present there has been very little inquiry for dogs tail, and less of this seed appears to be wanted than is usually the case. For any other lines prices are unchanged. MELBOURNE PRODUCE MARKET(Received October 7, 5.5 p.m.) A. and N.Z. MELBOURNE, Oct. 7. The following are to-day's quotations on the Melbourne produce market Wheat.—The market is quiet, at. a nominal 6s. Flour. —£13 5s to £l3 10s. Bran.—£B 10s. Pollard.—£B ss. Oats. —4s 9d to ss. Barley.—English, 4s 8d to 4s ICd. Cape, 4s 2d to 4s 3d. Potatoes.—£B to £9 10s. Onions.—£3 to £3 ss. AUSTRALIAN POTATO CROPS. (Received October 7, 8.35 p.m.) A. and N.Z. SYDNEY. Oct. 7. It is reported that late heavy frosts are badly damaging the potato crops in some districts. FEILDING CATTLE FAIR. GOOD SALE OF STOCK. [BT TELEGRAPH. —PRESS ASSOCIATION. ] FEILDING. Friday. At the Feilding annual cattle fair to-day about 2500 head of store cattle were offered. It was a jrood sale all through and, with the exception of some pens of three-year steers, practically the whole entry sold undeT the hammer. Not many pena cf forward bullocks were offered, and the pens forward were keenly competed for, the top price being £9 2s» for a good line of four-year-old Aberdeen Angus cattle. Three-year-old steers were not very keenly competed for, but all yearlings and two-year-old cattle met with great competition. Empty heifers and cows also sold particularly well. Fat cattle met with a fair sale. Yearling Jersey heifers were in great demand, selling at from £3 up to £7 2s, for a line of 25 nice quality heifers. Following are some of the prices:— Extra prim© fat cows, £7 to £8; good fat Polled Angus heifers, £6 ss; good fat Shorthorn heifers. £5 18s 6d: forward Polled Angus bullocks. £8 18s to £9 2s: forward Shorthorn bullocks. £8 13s; good conditioned 3 and 4-year Polled Angus bullocks, £7 16s 6d to £7 17s and £8; good conditioned Hereford bullocks, £7 12s, £7 16s; raised colour bullocks. £6 2s, £6 3s to £8 9a; 3year Polled Ancus steers. £6 15s. £6 16s to £3 17s; 3-year Herefords, £6 10s to £6 15s; good Shorthorn 8-year steers. £7 to £7 6b; smaller, £6 4s to £6 Us; rough 3-year steers. £4 16s; 2-year Polled Angus steers. £5 14s, £6 Is, £6 5s to £6 17s; 2-year Hereford steers, £5 Is to £6. Very few sheep were offered, and the entry in the dairy unction was confined to yearling heifers. Fat maiden ewes and wethers, 3&s: fat ewes, 22s 9d to 28s; fat and forward ewes. 23®; black-faced hoggets. 23s 9d; shorn black-faced hoggets, 21e. TE AWAMUTU STOCK SALES. The New Zealand Loan and Mercantile Agency Company. Limited, Hamilton, reports.—At the Te Awamutu sale on Thursday we submitted a heavy yarding of cattle, also sheep and pigs. Beef was penned in full supply, the quality being mainly firstclass Prices for prime young cows and heifers were in advance of those ruling at other centres at present. A good eniary of choice yearling Jersey heifers met with a keen demand. Bidding was brisk for all classes and practically everything changed hands. We quote:—Fat bullocks, £9 15$ to £ll 10s: lighter bullocks. £7 17s 6d to £8 158; heavy fat cows and heifers, £7 12s 6d to £9 la; medium, £6 12a 6d to £7 7s; light. £5 7a 6d to £6 ss; rough kiilable cows, £4 10s to £5 2s 6d; cow* in fresh condition, £8 12s to £4 6s; store cows. £2 8s to .£3 10s; high-grade yearling Jersey heifers, £5 IGs to £6 ss; medium quality, £4 16s to £& 6s: Jersey cross heifers, £3 17s 6d to £4 12s 6d; small, .£2 15s to £3 12s 6d; yearling Shorthorn steers, £3 10s; 2-year-old steers, £4 10s to £4 16s; 8-year-old steers. £6 9s; 3j to 4-year-old steears, off swedes, £7 9a to £7 15s; dairy cows# £7 to £l2; best heifers, £lO 5s to £l2 15s; others. £C 5s to £9. Ewe hosgets, £1 7s 6d; m.s. hoggets, £1 to £1 4s 6d: weaner pigs, 8s to .15s; slips, 17s 6d to £li unfinished porkers. £1 13s to £1 iv#J store 1 porkers, £1 5a to £1 1Q».