OTAGO LAND BOARD

Otago Witness, Issue 3557, 16 May 1922, Page 13

OTAGO LAND BOARD

The Otago Land Board met on the 10th; present—Messrs R. T. Sadd (Commissioner of Crown Lands), Jas. Smith, T. A. Muriro, and G. Livingstone. DISPOSAL OF LAND. An application by the Presbyterian Church for the purchase of half an acre of J. CJ. Kerr’s section, Pukeawa, for a church site, was approved, subject to the usual provisions for payments and survey. Section ss, Melville Park. Settlement. 7ao 2r, r. 1.5., Harold Wm. Bennett.—Left in tho hands of the commissioner. Thos. Saxon applied to select under the Discharged Soldiers’ Settlement Act, section 14’, 15, and 16s, block VIII, Rankleburn district,—Lease granted subject to land being proclaimed in Discharged Soldiers' Settlement Act in terms of April resolution of board. Reconsideration of application by John Sutherland Harvey for lease of sections 17 and 24, town of Waikoikoi.—Approval cancelled. W. G. Dungey applied to purchase sections 3 to 7, 10, 12, to 14, block XIV, town of Cromwell.—Sections to be proclaimed suburban land and offered at auction at upset price of £3 per section. A. Gormack applied for a 6mall area on the foreshore, town of Moeraki, suitable for erecting a fish-cleaning shed.—Year to year license granted. John C. Edmondston applied for a license over an area on th 3 foreshore town of Moeraki.—Year to year license granted. James Nicolls wrote stating that he considered the rent fixed for license over sections 5,6, 7, and 17, block V, town of Balclutha, excessive.—Approval of issue of license rescinded. Ranger O’Neill submitted a report on year to year license held by J as. Robertson over an area in town of Molyneiux.—lssue of license to Mrs Petrie rescinded and rent of Jaa. Robertson’s license increased to £1 per annum. Albert E. Hore applied for about four acres of land at Waipiata, near Tailing* reserve.—Held over for further particulars. Mrs Mary Loft applied for a renewable lease over section 48, block I, Caadrona district. (Subdivision of Cardrona commonage.)—Application to be advertised. Applications for section 9s, Wairuna Settlement, 529 acres, r. 1.5., by Jas. Duncan, waa approved. John R. Trrpp applied for a lioeme* over an area opposite blocks X and Xl*

town of Glenorehy, and adjoining the slaughter house reserve. —Year to year license granted. Mrs J. G. Andrew withdrew hex application for a license over sections 7 and 8, block VII, town of Waitaki Bridge.—Approval of license cancelled!. Mrs L. 2.l‘Lean applied for a license over 5, 6,7, and 8, block XIV, town of Ranfurly.—Held over. TRANSFERS OF LAND. Transfers of the following lands were approved:—Run 245 e, Cromwell, 2230 a, Richard G. Redhead to Thomas J. Johnston; section 181, block 11, Papakaio, 9a 3r 39p, Edward P Burbury to John Robt. Dalgleish ; section 523, block 111, Nehthom, and section 13, block IV, Nenthorn, 2548 a, Colin Turnbull Stewart to Frederick H. Atkinson; section 35, block 111, Cromwell, 179 a lr 14p, Jas. G. Stewart Varcoe to Kenneth Biclcerton Burns ; section 65, block 111, and section 12. block IV, Cromwell, 596 a lr 26p, James G. S. Varcoe to Kenneth B. Bums; section 45, block 111, Cromwell, 51a lr 06p, James @. C. Varcoe to Kenneth B, Burns; section 66. block 111, and section 4, block IV, Cromwell, 713 a 2r 12p, James G. S. Varcoe to Kenneth B. Bums; run 216 h, Poolburn, 3170 a James Black to William Coffey; sections 7, 10, and 11, block XIII, Benger. 809 a 3r 16p, William Lindsay to Charles M’Le-an; section 13, block XIII, Benger, 59a 2r 20p, William Lindsay to Charles M'Lean; section 17, block VI, Hyde township, sa, John Matheeon to Robert Nevill; and sections 15 and 16, block VIII, Teaneraki Village Settlement, 20a, John Craig to John Chapman. Consent to transfer of section 24, block VI, Blackstone, 2a lr 9p, from Emily Wheeler .deceased) to Joseph Wheeler was withdrawn. PURCHASE OF FREEHOLD. Mr Charles E. Adams apnlied to purchase the freehold (upon deferred payment) of section 77, block VII, Maruwenua s.d., held by him under occupation lease. —Approved. Mrs Elizabeth Adams applied’ to purchase the freehold (upon deferred pavment) of section 78, block VII, Maruwhenua S.D., held by her under occupation lease.—Approved. Georg© t trachan applied for the purchase of the fee-simple of section 94, block I, Teviot, held by him under occupation lease. — Approved, subject to exemntiou of water race. GENERAL. An application was made by S. T. Uren for a further exemption from residence on sections 4. 5, and 6, block XXXVII, town of Alexandra.— Further exemption of one year granted. Robt. S. Charters, lessee of Education reserve lease No. 1977 ever run 202, GreenVale. Wendon, etc., containing 24,535 acres, applied for an extension of the term of his lease.—Held over. Application was made for _an extension of the term of deferred payment, license No. 37, held by William Ward over section 21s, Gladbrook Settlement, area 137 a lr 18p.—Recommended for approval. Ranger O’Neill was appointed appraiser to assess the rentals for the proposed renewals of the under-mentioned occupation leases, which expire Juno 30, 1923:—F. Butler (section 15, block VII, Teviot); W. L. Craig (section 44, block V, Teviot); Jas. M’Caru bridge (section 59, block 11, Cairnliill); C

R. Churchill (section 75, block VIII, Leaning Rock). Ranger Leonard was appointed appraiser of the rentals of the following pastoral licenses expiring in 1924 and 1925, and renewable for a term of 35 years:—Run 235 a, Vincent, held by T. M. Munro, expiring February 29, 1924; run 235, Vincent, held by 'H; Gibson, expiring February 2% 1024; run 236 b, Vincent, held by G. Henderson, expiring February 29, 1924; run 236, Vincent, held by J. C. F. Rowley, expiring February 28, 1925; runs 236 m and' 237 f, held by John Jenkins, and expiring February 29, 1924; run 235 d, held by R. G. C. Munro, expiring February 29, 1924; run 236 a, held by Jessie Rowley, expiring February 28, 1925. COMMERCIAL CABLEGRAMS. GOVERNMENT SECURITIES. LONDON, May 12. The following are the latest quotations for Government securities, with a comparison with those ruling last week : Last week. This week.

BANK OF ENGLAND RETURNS. LONDON, May 12. The Bank of England returns for the week ended May 11 afford the following comparisons with those of the previous week May 4. May 11. Coin and bullion £127,053,000 £127,055,000 Reserve 25.233,000 25,746,000 Proportion of reserve to liabilities, p.c 17.20 18.00 Note circulation 122,091,000 121,592,000 Government deposits ... 14,356,000 12.179,000 Other deposits 131.694,000 130.259,000 Government securities 63,543,000 58,873,000 Other securities 74,960,000 75,530,000 Short loans, per cent.; three months’ bills, 2t per cent, THE METAL MARKET. LONDON, . May 9. Copper, £6O 6s 3d to £6O 13s 9d. Lead, £24 10s to £2l 2s 6d. Spelter, £27 5s to £2B 2s 6d. Tin, £l4B 17s 6d to £l5O 15s. Silver, 35|d.

FOREIGN EXCHANGE RATES. LONDON, May 8. The foreign exchange rates are as follows compared with those last cabled:

NATIONAL BANK. ISSUE OF NEW SHARES. WELLINGTON, May 11. The shareholders of the National Bank of New oeal and were to-day informed that the Board of Directors bad resolved to offer to shareholders this month 100,000 new shares of £7 10s each (.£’2 10s paid up) at a premium ,cf £2 per share. This is consequent on a resolution carried at the annual meeting, increasing the authorised capital of the bank from 3 to 4J millions by the allotment of 200,000 shares at £7 10s each. The proportion of the new issue which shareholders are entitled to receive is one share for every four .-harts now held. N.Z. AND A.L. COMPANY. LONDON, May 10. The New Zealand and Australian Land Company lias declared an interim dividend of 2 per cent., tax free. BRITISH TRADE RETURNS. LONDON, May 11. The imports decreased by £92,901,190, and the exports by £4,359,936 (?). The reexports increased by' £676,112 Principal Decreases. £5,265,887; dntiable food and drink, £4,825,935; non-dutiable food and drink, £2,415,638. Exports. Machinery, £3,503,948; iron and steel, £1,942,449; vehicles, £1,352,070 Increases. £2,621,553 ; raw wool, £2,686,874. Exports: Coal, £3,340,638; cotton yarns manufactures, £1,560,421. NEW ZEALAND 1 LOAN. LONDON, May 7. The city editor of The Times comments that the outstanding feature of the dealings in gilt-edged stocks last week was the price of the 5 per cent, war loan at 99, being quoted at nearly 1 per cent, below recent issues. New Zealand 5 per cents, thus created a financial record, as never before have colonial stocks been able to compare with British Government securities. QUEENSLAND BUTTER. MELBOURNE, May 8. Following the recent increase in the wholesale price of butter in Brisbane to 205 s 4d per cwt, in the hope of neaping the benefit oil account of the shortage in Victoria and the impending shortage in New South Wales, the newspaper Argus states that there is a

possibility of Queensland being cut out of the Melbourne market, as it appears that best New Zealand butter has been offered in Melbourne at a price equivalent to Is 9d landed in Melbourne. AUSTRALIAN MARKETS. SYDNEY, May 11. Oats: Algerian local feed, 3s lid; Tasmanian, 3s lOd; white, 4s id to 4s 2d. Maize: Yellow, 5s 3d; white, ss. Potatoes: Tasmanian, £B. Onions; Victorian, £7 10s. ADELAIDE, May 11. Oats, 3s to 3s Id. MELBOURNE May 12. Barley: English, 3s lid to 4s; Cape, 2s lOd to 2s lid. Oats 3s 4d. Potatoes, £4 to £4 15s. Onions, £6. LONDON MARKETS. LONDON, May 11. The lead imports total 14 180 tons (Australia, 5460 tons), and the exports 2433 tons. The Wangaratta’s New Zealand apples were mostly in fair condition. Some bad turned brown inside, similar to those previously cabled. Of the others, there were 2804 cases, mostly fetching from 12s 6d to 13s per case; Coxs, from 12s Gd to 16s a case. Butter: Flat ,owing to the slump, in Danish, ,which is offering at 165 s f.0.b., equal to about 172 s landed. New Zealand choicest, 168 s to 170 s; Australian, 160 sto 1625; exceptional quality, 1645. Cheese: Dull, and demand slow. New Zealand, white, 72s to 745; coloured, 82s to 84s; Australian, white, about 665. HOME MARKETS. LONDON, May 12. Wheat cargoes aro firm, in view of the Continental demand, and prices are generally unchanged, despite a large advance in the American market. Plate holders -are inclined to sell at slightly lower figures. The Benvorlich cargo realised 57s 3d- Very little is doing in spot. Australian which is due is quoted at 60s 6d. Flour is quiet. Australian, ex store, 43s 6d to 445. Barley: Inactive. Oats: Firm. Peas and beans: Steady and unchanged. Sugar: Granulated, 48s 9<l. At the wool sales a moderate selection' of merino-s sold well at full rates. Crossbreds are buoyant, and the market for all grades is very firm. The Orvieto’s end Pori Curtiss’s Tasmanian apples are apparently in good condition, and. ere fetching 11s to 14s. LONDON, May 13. Cotton —June shipment, 11.30 d per lb. Rubber.—Para, lOld a lb; plantation smoked, Bd. Copra.—May-June shipment, £23 10s a ton. Jute. —May-Juno shipment, £3O a ton. Hemp.—May-July shipment, £3O a ton. Linseed Oil, 1.-46 ss. Turpentine, 81s a cwt. Sheep.—Canterbury: Light, BJd a lb; medium, 7Jd. North Island: Light, 7 pi; medium, 7Jd. New Zealand ewes, 6Jd; Australian first grade, 6id; ewes, 6Jd; South American light, 7Jd; heavy, 6|d; ewes, sfd. Lambs. —Canterbury: Light and medium, lljd; Southland, ll|d; Australian fair, 9gd. Frozen Beef.—-New Zealand fores, 2fd; chilled Argentine fores, 4d; hinds, 7d; Uruguay fores, 3|d; hinds, 6Jd. THE WHEAT MARKET. LONDON, May 8. Wheat cargoes are dull owing to the fine weather. Quotations have declined threepence to sixpence. LONDON, May 9. Wheat cargoes are dull, with an "easing tendency. A parcel by the Euripides realised 57s 9d, the parcels by the Liverpool and Trevithick 57s 3d, Suevic 57s 4Jd, Manchester pool, ex Trevithick, 57s 5Ad. LONDON, May 10. Despite the bearish rendering of the Washington Bureau report wheat cargoes are steady. Kenilworth cargo, 57s 3d; ex Iskra, Springbnrn, and Faxen, 57s 6d. Parcels of Australian on passage, 59s 9d; par-cel, Liverpool, ex Trevithick, 57s old. LONDON, May 13. Wheat cargoes are firm, sellers requiring an occasional sixpenny advance. Australian, afloat 58s 6d, May 58s 9d, parcels afloat 58s. TALLOW SALES. LONDON, May 10. At the tallow sales 690 casks were offered, and 162 isold. Prices are unchanged. THE APPLE -MARKET. LONDON, May 10. The Borda’s apples were discharged apparently in good condition. South Australian C’leopatras are fetching 12s 6cl to 13s 6d. Peshawar's, New Zealand, are somewhat variable in condition. Jonathans, 10s to 14s; London pippins, 11s to 13s; Dunns, 10s to 12s 6d; Alfristons, 10s ; King Davids, 10s ; Cox’s,' 10s to 14s 6d, and a few at 20s. LONDON MARKETS. The New Zealand Loan and Mercantile Agency Co. has received the follownig cablegram from London, dated the 10th inst: New Zealand Frozen Meat. —Lamb. 11 pi per lb; wether and maiden ewes, light, 7§d per lb, heavy 6Jd per lb; ewe and beef, unchanged. July Wool Sales. —All arrivals up to May 1 will be included in the July sales. PROPERTY CLAIMS. LONDON, May 8. Lord Shaw of Dunfermline has been appointed chairman of the commission of adjudicating private claims against the Irish Free State for property.

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London on Par. May 1. May 8. Paris, ir. to £1 ... 25.225 48.10 48.85 Christiania, kr. to £1 ... 18.159 23.60 23.65 Copenhagen, kr. to £1 ... 18.150 28.88 20.87 Stockholm, kr. to £1 ... 18.159 17.11 17.27 Berlin, marks to £1 ... 20.4.'! 1247.00 1320.00 Montreal, do], to £1 .. . 4.86 2-3 4.50 4.51 New York, dol. to £1 . .. 4.86 2-3 4.43 4.44 Hongkong, dol. to £1 * 30* 33f Yokohama, st. to yen. . .. 24.58 25i 25§ Calcutta, st. to rps. 10 to gold £1 Hi log •Determined by price of silver.