LAND FOR SOLDIERS

Otago Witness, Issue 3244, 17 May 1916, Page 16

LAND FOR SOLDIERS

SETTLEMENT OF DISCHARGED MEN. AMENDING BILL INTRODUCED. (From Our Own Correspondent.) WELLINGTON. May 11. The Government's Discharged Soldiers Settlement Act Amendment Bill, which was introduced to-day. extends the provisions of last year's Act to bona fide residents of the dominion who have served with forces other than the New Zealand Expeditionary Forces in the present war. The provision of the principal Act in regard to financial assistance is extended to all discharged soldiers who may take up Crown land leases otherwise than pursuant to_ the special tenure conditions of the principal Act. Land required for the settlement of discharged soldiers may bo taken under the Public Works Act. The Minister of Finance is given power to raise loans not exceeding £500,000, at a rate of interest not exceeding 5 per cent., for the purpose of settling discharged soldiers. The whole, or any portion, of any compensation payable in respect of land taken for _ the purposes of the Act may, at the option of the Minister of Finance, be paid in Government debentures bearing interest at the rate of 5 per cent., the holders of such debentures to be exempt from income tax in respect of the income derived therefrom. Arrangements have been completed by the Minister of Lands for the of about 2500 acres of excellent land in the Waikato district for settlement for returned soldiers. THE WOOL SAT FS. The National Mortgage and Agency Company of New Zealand is in receipt of the following cablegram from its London office, dated Bth inst.: —"Sales closed very firm. Merinos are 10 per cent above opening E rices. Medium and coarse crossbreds about per cent, above opening rates." COJCMEttCIAL CABLEGRAMS. LONDON, May 10. Wheat.—Market firm ; prices unchanged. Visible supplies, 129,731,000 bushels. May options, 111£ to 114£ cents; July options, 114 J to 116 cents; September options, 115 J cents. At the tallow sales 1131 casks were offered, and 459 sold. Beef, 525; medium, 47s 6d } mutton, 525; medium, 465. Business is restricted owing to it being almost impossible to get export licenses. May 12 Wheat is firmly held, but quiet, Flour is dull. Australian, Oats.—-Slightly easier. Peas are quiet. New Zealand maples, 55s to 62s Beans are steady. New Zealand spring, 50s to 52s The Bank of England returns shew that the gold coin and bullion in stock is £53,181,000; reserve, £43,387,000; proportion of reserve to liabilities, 31.37; notes in circulation, £34,426,000; Government deposits, £54,834,000; other deposits, £83,442,000 Government securities, £33,187,000; other securities, £79,410,000. The discount on short loans is 4 per cent. ; three months' bills, 4 9-16 per cent. Consols. £57 2s 6d. War loans—4 per cent,, £B7 12s 6d ; 3£ per cent., £B4 17s 6d. Following are the quotations for dominions' stocks, as compared with those

11929-1940 currency. § 1920-30 currency. Pig iron. 82s 6d. Sugar, unchanged. Bradford Wool. —The market is strong, especially for merinos and fine crossbreds. Sixty-fours, 46d; sixties, 45£d; common sixties, 44£d; fifty-sixes, o8^d; fifties, 32J>d; forty-sixes, 28id. Butter is firm, and supplies are small. Danish, 172 sto 1745; New Zealand, choicest, 1665; Australian, nominally 160 s. Cheese: Slow, high prices cheeking the demand. New Zealand, 113 sto 114 s. May 13. Wheat is firmly neld. Chicago June options 116| to 115| cents; July options, 117 f to 116 a cents. Wheat and flour afloat: For United Kingdom, 3,440,000 quarters; Continent, 4,285,000 quarters; Atlantic shipments,' 767,000 quarters; Pacific, nil. Totals —Europe, 1,480,000 quarters; Argentine, 225,000 quarters; Australasia, 251,000 quarters. Australian and New Zealand frozen meat: An insignificant quantity marketed. ton, nominally Bidj lamb, 9^d. Babbits: Quiet and unchanged. Cotton :. JMay-June shipments, 8.16£. Jute: Nominal. April-May shipments, £32 5s Hemp: Firm. High point to fair, MayJuly shipments, £4B. Bubber: Para, 2s 10fd; plantation, 2a smoked, 2s 9R Copra: April-June shipments, £32 ss.

for the previous week: — Mav i. May 11. Victorian 4's ... 94* 95 Victorian 3.ys ... 84.', 84| 70§ 70* Victorian 3j's t Victorian 3's 621 63| New South Wales 4's ... 86} 84» New South Wales 31's ... 84 i 86J New South Wales 3's ... 70 m New South Wales 3J's § ... 70| 70 Queensland 4's Queensland 3J's Queensland 3's ... 00;; K 1 ? ... 86} 87J ... 66;| 63$ South Australian 3i's 70 3. 73i South Australian 3's ... 58i 59| New Zealand 4's 85} 854 New Zealand H'$ 701 73$ New Zealand 3's Tasinarrian 3£'s 63| ... 72J 64J 72J Tasirsanian 3's ... '. ... 634 63* West Australian 3J's ... 73^ 74i West Australian 3's ... 68§ 69