MORTGAGE INTEREST

New Zealand Herald, Volume LXIX, Issue 21249, 1 August 1932, Page 5

MORTGAGE INTEREST

THE A.M.P. SOCIETY MAXIMUM RATE FIXED [BY TELEGRAPH —PRESS ASSOCIATION] WELLINGTON, Saturday Advico from Sydney states that the principal board of tho Australian Mutual Provident Society, after giving cons,deration to the question of reducing tho l'ate of interest payable on property mortgages to tho society, decided to accept from existing and future mortgagors for the period of two years, interest at a maximum rato of 5j per cent instead of tho rates uow payable under mortgages. Tho Auckland district manager of tho Australian Mutual Provident Society, Mr. C. G. Johnson, stated last evening that ho had not received official advico regarding the reported alteration in interest payments. At present tho rates of interest pavablo under mortgages varied, there being no fixed maximum. GOLD AND SILVER QUOTATIONS IN LONDON (Received July 31. 5.5 p.m.) LONDON, July 30 Gold is quoted to-day at £5 17s 5d an oz., compared with £5 17s 8d yesterday, and £5 16s 7d on Thursday. Silver was quoted yesterday at 17 3-16 d an oz. spot, and 17] d forward, compared with and 17 316 d on Thursday. WELLINGTON WOOLLEN CO. DIVIDEND 6 PER CENT FOR YEAR j [BY TELEGRAPH—rRESS association] WELLINGTON, Sunday The general manager of the Wellington Woollen Manufacturing Company, Limited, has advised the New Zealand Stock Excharge Association that at the annual general meeting on August 17 the directors will recommend the payment of a final dividend of 3 per cent, making a total of 6 per cent for the year. The rate for tho year. 6 per cent, is the samo as that in 1930-31. In 1929-30 the rate was 8 per cent, and from 1925 to 1929 the regular dividend for both ordinary and preference shares was 10 per cent. BROKEN HILL PROPRIETARY YEAR'S NET PROFIT £103,720 [BY TELEGRAPH—PRESS ASSOCIATION] WELLINGTON. Sunday The New Zealand Stock Exchange Association has received tho following cablegram from the Broken Hill Proprietary, Company, Limited:—"Subject to audit the net profit for the year ended May 31, 1932, was £103,720, after providing £252,589 for depreciation and £47,418 for debenture interest." The company made a net profit of £83,257 in 1931 and £161,890 in the preceding year. In 1929 tho net profit was £132,673.. From 1927 to 1929 an annual dividend of 10 per cent was declared. Nono has since been paid. STOCK SALES HORSES AT MATAMATA Dalgety and Company, Limited, report having held its Matamata horse sale on Friday. On account of a client. ex-Gisborne, a very useful consignment of 36 good quality draught horses was offered. The imbroken horses made up to £26 10a. White useful farm horses on account of the same vendor made £27 On account of other vendors, young useful horses made up to £32 10s; aged farm horses. £ls to £2O; inferior sorts, £8 to Xl2; light horses, up to £S. KAMO QUOTATIONS The North Auckland Farmers' Co-opera-tive. Limited, reports having held its monthly cattle eaie at Kamo. There was a fair attendance of buyers, and a large yarding of dairy cattlo.'Most lots changed hands, and there was fair competition throughout. Values were:—Dairy cows, close to profit, i'O 10s to £7; others, £5 ns to £5 10s; dairy heifers, £5 10s to £0 ss; others, £3 15s to £5 ss. Fat cows made up to £5 ss: others, up to £3 10s; runners, £1 10s, cows and calvos. £1 to £1 12s. VALUES FOR PIGS There was a large attendance of buyers at tho Kamo pig sale on Friday, and the whole offering of 300 pigs changed hands. Large white sows made from £2 to £3 12s Cd; others, £2 to £4; boars, £3 3s; young sows, 14s to £1; slips, 17s; stores, up to £1 2s 9d; weaners, 9s to 14s 3d.