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Otago Daily Times, Issue 24327, 18 June 1940, Page 2

of funds, but New Zealand Government securities at £8,530,196, which includes the £1,000,000 free of interest loan, come not far behind. Money at call and securities in London at £6,066,263 show a substantial rise. The amount of British Government securities in this group is not stated, but there is sufficient to cover the ! reserve fund of £3,575,000. London assets j are entered in sterling. Australian Government securities at £453,931 are little altered, but here, as in the case of other investments, no basis of valuation is given. Municipal and other local bodies’ securities, which have exhibited a ten- 1 dency to fall in recent years, are down to £254,750, but the most marked change is in bills receivable, which are as low as £174,869. In their fluctuation, remittances in transit at £1,859,459 are less, but balances due by other banks at £154,930 arc higher than usual. With £85,493 in other Government notes, liquid assets are raised to £28,405,000, being equivalent to 13s 8d per £ of outside liability. The book value of the land and buildings group at £753,159 continues to rise steadily. With the exception of 1937-38, there has been no pronounced annual increase during the past dozen years, and it may be that the market value has concurrently moved up to a not less extent. Depreciation of unstated amount has been annually written off furniture in recent years, but no mention has been made of a depreciation provision on buildings, although it may have been otherwise provided for. The indications are, however, that the secret reserve con- j tained in the fixed assets has probably grown with the book value. Business in the long-term mortgage department appears to be declining. The repayment of £107,050 during the past year has reduced the debenture stock to £500,000, while the capital remains at £703,125. The amount on loans is re- i duced to £811,410, and the balance of 1 funds appears as transfers of £391,715 to the bank, for which it makes a liability. The total transferred has been- reduced, but with the high rate of return demanded by the capital, the matter of finding equivalent employment for the money not utilised by the department must be a matter of some difficulty. The remarkable steadiness which has characterised the net trading result since 1931 is uninterrupted. Scott Bros., produce merchants and commission agents, agents for the Dunedin Egg Suppliers’ Association, report;— Eggs; The Associated Agents quote poultry farmers’ eggs at 2s 5d per dozen; storekeepers, to 2s 4d per dozen: pullets, to 2s 2d per dozen; preserved, Is 9d to Is lOd per dozen. Separator butter: Wanted; to Is per lb. Honey, 7id to BJd per lb; 101 b tins, 8s 6d each; 51b tins, 5s each. Beeswax, Is to Is 3d per lb. Poultry; Hens, Is 6d to 2s each; heavy breeds, 2s to 2s 6d each; roosters, Is 3d to Is 6d each: cockerels, 2s 6d to 4s 6d each; ducks. 2s to 3s each; ducklings, up to 4s each; geese, 3s to 4s 6d each: goslings, 3s 6d to 5s each; turkeys, gobblers 9d to lOd per lb, hens 8d to Sd per lb. Fat: Nominally 8s to 10s per cwt. Potatoes: Arrans, to £5 per ton; King Edwards, to £6 per ton. Green peas. 3d to 4d per lb. Carrots, 2s 6d to 3s 6d per sugar bag. Swedes, Is Gd to 2s per sugar bag. Onions: New season’s Canterburys, 12s per cwt. Whole fowl wheat. 6s to 6s 9d per bushel, sacks extra. New Zealand cape barley, 6s per bushel, sacks extra. Chaff: Prime oaten sheaf, £6 10s ex truck. £7 10s ex store, bags extra. Undergrade wheat, to 21s per sack, s.i. Whole maize, 8s per bushel, sacks extra. Oyster grit, 6s 6d per 1001 b bag. Straw: Wheaten, 2s 9d per bale, ex store. Lucerne meal, 11s 6d per 901 b bag. Lucerne chaff, 8s per sack. Oats' Gartons, 4s 6d to 4s 9d per bushel, sacks extra. Free use of fowl crates on application. We have in stock chick and pullet grit, chickfood, fine and medium, and chick starter, charcoal, bone meal, black leaf “ 40.” etc. Prices on application.— June 17, 1940.