EMPLOYEES* PROVIDENT ASSOCIATION.

Otago Daily Times, Issue 20833, 27 September 1929, Page 6

EMPLOYEES* PROVIDENT ASSOCIATION.

ANNUAL REPOET. At the annual meeting of members of the Bargood, Son, and Ewen Provident Association, the trustees' report was presented, showing that the accumulated iunds ot the association, including the special contribution of Messrs Fargood, hon, and Ewen, Ltd., in terms of the deed amounted to £74,980 lis 6d. The amount standing to the credit of members' accounts was £68,989 lis lid. The interest on investments received during the year amounted to £3763 9s 2d, and the expenses, which included stationery, postage, bank charge, and interest on withdrawals, amounted to £l3O 17s lid leaving a balance of £3032 lis 3d. This amount, together with the company's subsidy, proportion of discounts on investments, and the unclaimed balances ,iu the accounts of members who had left the service, had been transferred to the credit of members' accounts in accordance with the provisions of the deed. The company'* subsidy, which was divided half-yearly, amounted to 13s 7Jd for every pound paid in by the members during the year ended June 30, 1920. The revenue which was divided yearly, amounted'to 2s 11 5-6 don each pound of the total contributions of members, yielding a return of interest at the rate of 14.91 per cent, per annum. The trustees had recently experienced some difficulty in obtaining suitable investments for the association funds. They thought it advisable, therefore, that the scope of the investments should be enlarged to include the debentures issued by road boards, town ? boards, or electric power boards in New Zealand, all of which weru authorised by the Trustee Act as being suitable investments for trust funds. Thu trustees recorded, with regret, the death of Mr W. J. Brown, of the Invercargill staff, with 14 years' service. The membership of the association on July 1, 1928, was 284. During the period under review 26 new members were enrolled, and 20 ceased to be members consequent on retiring from the company's service. The membership at June 30;' 1929, was 290. Eefunds amounting to £1735 8s 7d, in accordance with the provision of the deed, had been made to members who retired from the company's service during the year. LONDON MARKETS. Messrs Dalgety and Co., Ltd., advise having received the following cablegram from London, dated September 25: Tallow.—There were 1325 casks offered, and 43 per cent sold—s7o casks sold. Prices are unchanged. Wool. —The wool sales continue with good attendance, but irregular competition. The demand is better at lower level, but prices show no sign of recoverv. As compared with closing rates of last series:—Greasy merino, fine, 10 per cent, lower; greasy merino, other descriptions, 15 per cent, to 20 per cent, lower; scoured merino, fine, 10 per cent, to 15 per cent, lower; secured merino, average and inferior, 20 per cent, lower; except New Zealand scoured merino, good; 7£ per cent *° J, 0 cent, lower; greasy fine crossbred, 15 per cont. lower; greasy crossbred, medium, 7i per cent, to 10 per cent ™ r " vt e l ales win close on October 4. Ine New Zealand Loan and Mercantile Agency Company, Ltd., has received the following cablegram from London, under the date September 25: Butter.—New, Zealand choicest salted, to 184 s. Cheese.—White, 93s to 945. The inarketß are quiet. THE EXPORTATION OF EGGS. Mr J. B. Merrett, the well-known New Zealand expert in the export of eggs, takes his departure for London on September 30 to supervise the sale of Australian eggs. It is only four-years ago that he left New Zealand to engage m the export of egg* i™ r nrvnnn traha \ aa £ la f* season «"* °™' 15000,000 eggs to London. It is his purpose to secure business for Australia, New Zealand, and South Africa, so that rjart of the £IB,OOO 000 spent by Great Britain on the import of eggs each year may bo diverted to the dominions. He will under UBt / ahan of Markets, carry out several experiments in the carfV,»SfflW f°l aee of ,?e« fi and investigate # e ma * kin e of Dominion *ggs cnandise Marks Act. FOREIGN EXCHANGES. (British Official Wireless.) (United Press Association.) (By Electric Telegraph Copyright.) ' RUGBY, September 24. IZ , * ?," m2 ' IS3 - B *s 12MM BruBSBIB bßlga, to £j » a 4 ,88 M ™ °*'° *' V W.l» 18.J0 iß.Vt{ %ZI ■ \ toe * ■ ,MM »■» >«■«* Copenhagen, ki bo £3 18,150 18."0 i 8 215 Berlin marks to £l .. 20.43 20.36 20*36 Montreal, do) to £1 . 4 . m im iM Ne» Tork do! to £1 4 .86 g 4.84 J 4.84 27-33 Yokohama, pence to yen 24.58 S 3 n-16 mj Hongkong, pence to dol 2J..t8 22J 22J Bombay, penoe to rupee 18 17 27-32 17 ■■>7-,V> Batavia, florinis to £1 ... 12.107 12.12 J ~_" Milan lire to £1 33 . 16 M .6»5 02.655 Amsterdam guild to £1 12.107 J2.OBJJ 12.08 g Prague, kr to £1 34.03 163 j 163$ Genevi, f r to £l 25.22 J 25.1 S Si.us Pwnoa .ohilltnge to *1 3S.£BJ 34.44 .14.46 Helsinsfora, marki to £! 293.34 192} iojj Madrid peseta, to £1 25.32 J 32.88 33.815 Atbeo» drachma to £1 35,22} 375 375 t/ißhon eacudoi to £1 4-50) 108.20 108.20 Bucharest, lei to £J .. 573 817 816} Rio de Janeiro pence to milreis „ _. 16 5J 6| Bueno? Aires, oence to Pesos „, „ 47.63 47 7-32 47 7-3} Shanghai, penca to tael 231 27 27 AUSTRALIAN MARKETS. SYDNEY, September 26. (Received Sept. 26. at 10 p.m.) Wheat: At country stations, ss; ex trucks, Sydney, 5s 7d. Flour £l3 10s. Pollard and bran £B. Potatoes: Tasmanian £2O to *£24, Victorian £2O 10s. Onions £22 to £24 a ton. Oats: White 4s, Algerian 4s 6d. Maize 5s od. ADELAIDE, September 26. Wheat 4s lid. Flour £l2 2s 6d. Bran £6 15s. Pollard £7. " Oats: Algerians 3s 4<l.