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COMMERCIAL.

Nzw Zealand Tixes Office, Monday, December 5* Xiery and Campbell report a gooa attendance at tbelr market sale on Saturday. Cherries brought 6d to 6d per lb; gooseberries, 2|d par quart; Sydney plums. 7s 6d per case; rhubarb, 6» per dozen bundles; green peas, 5d per peck; fresh butter, 7d per lb; eggs, Is Id per dozen : fowls, 4s Cd per pair; onions, 3d per lb; new potatoes, kidney sons, Ss ; round sorts. 6s 6d to 7s: oranges a/e selling at 12s : lemons, 14s to 16s 6d; Hobart apples, 10s to 12s 6d; Canterbury cheese. 4d to 4sd ; hams and bacon are scarce, and worth about 8d per lb. There is very little doing in other produce, and no alterations to report.

George Thomas reports sales this week: —Flour, colonial, Lll 10a to Ll2; oats. feed. 2s 6d to 2s 7d; m lling. 2s 8d to 2s 9A ; bran, L 4; /owls’ wheat 4s Sd to 4s 6d: maize, 4s 6d, scarce: pollard, L 5 10s to Lsl6s; potatoes, old, 30s to 40s per ton ; new, 7s per cwt ; bacon, 8d ; hams, lOd ; cheese. 4d ; salt butter, 7d; fresh, 6d to CJd: oranges, 12s: lemons, 19s; mandarins, 11s ; cucumbers, 4s 6d per dozen ; pine* apples, 15s ; gooseberries, 2id to Sd; onions. 2d to 24d ; fowls,4s Sd to 4«;6d; eggs,is to Is id: cherries. 5d to Cd.

Share Keport.—Mr John W, Stevenson (member of the Wellington Sharebrokers’ Association) reports:—Sales-Colonial Banks, 47a 6d ; Wellington Gas, L 6 Us (L 5 paid); Albion Gotdminlng Co. (ferawhiU), 6s; Trust and Loan, L 5 13s; N.Z. Shipping, L 5 18s. I quote—Bank of N.Z., L 33; Colonial. 48s ; National, 83s, Insurances—N.Z.. Sis; Colonial, 13t Od; Union, 255; Standards, 16s 6d ; South British, 57s 6d; National, 335; N.Z. Accidents. Ss 6d. Sundry—N.Z. Shipping, L 5 18s ; Wellington Trust and Load, L 5 13s ; Equitable Building and Investment Co., i 10s ; N.Z. Drug Co., 23s 9d * Koranul Coal Ci.. (LOOs paid). Money—7 per cent.

CANTERBURY LIVE STOCK MARKET. Me srs H. Matson and Co report on the Live Stock Market, &e., for the past week:—, The Addington market was again fully supplied with all classes of stock, both sheep and cattle representing an exceptionally large entry. There was about an average attendance of the trade, but the sale, taken as a whole, was one of the most dragging Wpoilonced for manjr months. The dry weather of

late has materially affected onr pastures, and both fat and store stock, are now being rushed into the markets in large numbers. The demand for mutton, as shown on Wednesday, was anything but brisk several lines being turned out unsold—and sales as made wore marked by a slight dec-lno n values, in •tores the bulk on offer were young sheep, and, such having been a scarcity of late, sold at prices decidedly high In comparison to what was being paid ler mutton. For heaviest and best lines of fat cross-bred wethers (shorn) 11 sto 12s was being pa d; 9i io 10s «d for medium weights: whilst In stores we placed a draft of shorn hoggets at 8s 6d, and aboutlOOOwoollr do at 13a. Tha lamb trade was one of the, most unsatisfactory features of the da/a sale, there being* large entry, and an entire absence on the part: of the trade to purchase except on a very llmited icale. n was with great difficulty that salesmen could elicit » bid for any but the best lots—7s being paid for a few pens-the balance either sent home unsold er Uisnospfl of from fis to 6s per heed. It is evident that butchers have but little inquiry for fat lambs at the present time, and until there la an improvement owners will no doubt hold them over for store purnoses. Whilst on the subject, we would strongly urge upon those who are regular suppliers of our market the necessity of getting their lambs "tailed” in the proper season, as by so doing they would give themselves a chance of a double outlet fer disposal—vlx,, that when the market for trade purposes is overdone (as now) the surplus lines would be bought by farmers and others as stores. Although the supply of fat cattle was less in proportion than any other class of stock In the market the competition shown was equally dull with the rest of the day’s transactions, and prices were easy and more in favor of buyers. Prime steers brought L 7 10s, L 8 6s to L 9; medium weights and light heifers. J. 56sto L 7. In stores the market was overcrowded, and thia fact, together with the dry weather, caused buyers to act with great caution. Out of about 400 head submitted by ourselves there were, however, but few unsold, prices being lower than for several weeks past. The pig trade seems to have come almost to a standstill, as It la difficult to cult either fat or store, except at ridiculously low rates The totals yarded for the day comprised 7600 sheep, 652 bead of cattle, and 123 pigs, of which our entry Included 3817 sheep, 246 fat lambs, 451 head of cattle, and 119 pigs.

FREEMAN R. JACKSON’S FORTNIGHTLY STOCK REPORT.

Mr Freeman R. Jackson reports on the Wanganui Live Stock Market for the past fortnight:—The sales during the past fortnight have not been so well attended as usual. The yards have been wall filled with useful stock, but the bidding was dull, with the exception of Messrs Newland’a clearing sale; the biddl igon that occasion was very spirited, a d all the lots were sold at the auct on. The quotations are as follows ;—Oattle.—At Kakaramea on the 18th 88 head were sold—rat cows, L 5 5s ; cows.LS 12s Cd ; heifers, L 3 ss: yearlings. L2 7s 6d to L2 16s. On Saturday, at Waverley, 460 head were yarded—Cows and calves, L 4 7s 0d to L 4 17s 6d: cuws, L3ss to L 3 10s; heifers, L 3 2s 6d to L 3 17s 6d ; steers, 1.4 to L46s ; yearlings. LI 17s 6d to L2 16s. At Wavorley on Friday, the 25th, 467 head made up the sale—Steers, L 4 10s to L 4 12s 6d: cows. L 3 2» 6d to L 3 15s ; yearlings, L2 2s 6d to L 3. At the St. Hillstreet yards to-day 357 head were sold Fat cows, L 6 2s 0d : bullocks. L 7 2s 6d ; store bullocks, L 5 is J 2-year-olds, L 3 16a to L 3 17s 6d ; cows, L2 IZa 6d ; yearlings L2IOS ; bulls, from L 5 to LlB -a. Sheep.— At Waverley 800 were In the pens—Hoggets In wool, 10s 3d to 11s 6d; shorn sheep, 7s 6d. At the yards to-day—Wethers, shorn, 7s 9d to 0s 6d. Horses.— A number were sold at Messrs Newland’s sale, at satisfactory prices. Unbroken draughts, L 0 10s to L2l 5s ; hacks, L 5 to Ll 4. At the yards to-day 1 sold nearly all that offered at market values. Exports.—74 cattle, 663 sheep, 67 horses, and 110 pigs.

AUSTRALIAN MUTUAL PROVIDENT SOCIETY. Head Office—B9, Pitt-street, Sydney. THE OLDEST MUTUAL LIFE OFFICE IN AUSTRALIA.

In the report of the proceedings at the twelfth annual meeting of the National Mutual Life Associaiiou (Victoria), printed as an advertisement in the “ Sydney Morning Herald” of the 23rd November, the following occurs with respect to the application of the principle that a policy could not lapse while it had a surrender value: —“He (the Chairman) contended that . . . the idea now oar ied out by Mr Black was that the policy would be kept alive so long as it had a cash or surrender value after it had been endorsed. . . ,

They could see at once the difference between the two offices.” The Directors of the Mutual Provident Society wish to announce, for the information of the members, that this statement is untrue : no indorsement is or ever has been required to entitle a member to the benefi t of this liberal provision. As to the originator of this scheme, the following disinterested article from the Commercial World” (London), of Ist September, 1881, will probably be deemed conclusive “It will be seen from the report of the speech of the Chairman of the National Mutual of Victoria, given elsewhere, that the question is debated as to with whom the principle originated of apph ing the surrender value of a policy to keep it in force till that value is exhausted—in place of the ordinary method of allowing the policy to drop on the assured failing to pay the premium due at any given quarterly, half-yearly, or annual period, as the case may be. The question is whether the idea was first started by Mr Black, the well-known actuary of the Australian Mutual Provident Society, or by Mr Templeton, of the National Mutual. The matter is debated with much tenacity by Mr Alderman Moubray, the Chairman of the National Mutual, who, with great chivalry, champions Mr Templeton’s claim to be regarded as the originator of the idea. But, unfortunately for his case, he quotes from a _ot . the London_ and Yorkshire, Mr Black was th'en~the actuary, and the passage quoted is as follows: “‘Policyholders will not be in danger! of having their policies forfeited from accidental omission or inability to pay the premium, as the Company undertake to keep the assured protectee! as long as they have a cash or surrender value in hand.’ “ Now, as Mr Templeton was not connected with any insurance company till 1868, when he started the society of which he is the actuary and secretary, in whose prospectus the principle of keeping policies alive by means of the surrender value is embodied, it follows that ho was seven years later in the field than Mr Black with the principle or idea, and cannot therefore maintain his claim as the originator. The contention of Mr Alderman Monbray to the effect that because the London and Yorkshire was transferred to the Whittington and hence ceased to exist, that therefore it never had a prospectus or any special principle embodied therein, is a kind of reasoning which we shall content ourselves by saying we decline to accept. Ths dates given are conclusive on the point against Mr Moubray’a contention. It is admitted that Mr Templeton was the first to introduce the principle in connection with an Australian Society, and with that he might well be content. But it was shortly afterwards, that is to say, in 1873, applied by the Australian Mutual Provident society, and in connection therewith has been made known, not only throughout the Australian colonies, but also in Great Britain and America. This gives Mr Black a double claim; first, as the originator of the idea, and secondly, as its popularise!. We have, however, to admit that, popular as the principle is in the Australian colonies, it has as yet, s 6 far as we are aware, no place in the prospectuses or deeds of our Home companies, which we cannot help thinking is much to be regretted.”

Permanent link to this item

https://paperspast.natlib.govt.nz/newspapers/NZTIM18811205.2.4

Bibliographic details

New Zealand Times, Volume XXXVII, Issue 6441, 5 December 1881, Page 2

Word Count
1,842

COMMERCIAL. New Zealand Times, Volume XXXVII, Issue 6441, 5 December 1881, Page 2

COMMERCIAL. New Zealand Times, Volume XXXVII, Issue 6441, 5 December 1881, Page 2

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