OTAGO LAND BOARD

Otago Witness, Issue 3566, 18 July 1922, Page 15

OTAGO LAND BOARD

The regular meeting of the Otago Land Board, held on Thursday, was attended by Messrs R. T. Sadd (chairman), Geo. Livingstone, Jas. Smith, T. A. Munro, C. J. Inder. DISPOSAL OF LAND. George J. Dent applied for an o.r.p. license over section 46, block X. Glenorriaru district. -Approved, subject to completion of application. Ranger O’Neill reported upon area fronting sections 13-17 and 19. East Taieri district. —Resolved that miscellaneous licenses be granted in accordance with ranger’s report. In the matter of the disposal of section 6s, Arnmore settlement, it svas resolved to issue license to D. Stumbles in accordance with condition stated on sale of plan and usual conditions for determination. John Frater applied for a over area between sections 68, 69, 70, and i 4 and the Clutha River, block I, Fraser district.— Year-to-year license granted at 20s pelannum on usual conditions. Thos. Ross Robertson applied for a renewable lease over section 186, block 11, Leaning Rock district. —Renewable lease granted at capital value of £3 and rental 2s 4d per annum. Section ss. Melville Park settlement, 7a 2r, r. 1.5., George Matthews.—Approved, subject to personal examination. W. E. Beattie applied for a year-to-year license over Ford reserve, block VI, Upper Taieri district. Thos. J. Ledingham (returned soldier) also applied for the same area. —Held over. Stuart Meish applied for an area on the foreshore town of Moeraki. —License to be granted on receipt of surveyor’s plan, subject to usual conditions, rent 10s per annum for each license. M. Joyce applied for a license over a small area on foreshore, town of Moeraki. —License at 10s per annum granted, subject to usual conditions and on receipt of surveyor’s plan. Janies Clark applied to purchase an area of approximately 45 acres on run 245 e. adjoining section 37. block 111, Cromwell

district.—Recommended under section 131 Land Act, 1908. Richard G. Redhoad applied to purchase an area on run 245e.—Recommended. The following applications wero declined: Section 28. block V, town of Ranfurly, lr, cash, Albert Adam Wright; section 33, block \ , town of Ranfurly, lr, cash, Aaron Dyke; section 30, block V, town of Ranfurly, lr, cash, Jas. Gordon Campbell j section 32, block V, town of Ranfurly, lr. cash, Aaron Dyke. Ranger O’Neill submitted a report upon two small areas of Crown land in block I, Fraser district, between section 36 and the main Alexandra-Earnscleugh rood.—. Resolved that application be recommended, subject to the approval of the Minister, in terms of section 14 of the Land Dwi Amendment Act, 1912, at capital value of 10s per acre. John Patrick Parcel! applied for an occtv pation lease over section 42, block I, Bannockburn district.—Resolved that occupation lease be granted at capitul value of £36 and rent of 36s per annum. Mrs Mary Sanders applied to purchase an area in block VI, C’aimhill district.— Resolved that application lie recommended, subject to the approval of tho Minister, in terms of section 131 of the Land Act, 1908, at a capital value of £2 per acre, and that surrender of area lie recommended foi* Governor’s approval, under section 254 of the Land Act, 1908 The executors of the late John Pitches applied for an occupation lease over section 79. block 11, Tiger Ilill district.—Resolved that occupation lease lie granted at a capital value of £4O and rental of £2 per annum. J- B. Dunning applied for a license over island in Makarora River opposite section 2246 a, block XII, Wilkin district, —Resolved that permission be given to rabbit the land at rent of 5s per annum in the .meantime. Ranger Leonard to inspect the area and report when next in the locality. TRANSFERS. The following transfers were approved: Soction 8 block I.XXXIV, town of Oamaru, lr OOp, William Ramsay Lowrey to James Grant; section 69, block I, Benger, 7a 3r lOp, Frederick George Capon to George Curtis Capon. In the case of soction 3a, Olanomomo, 75a lr 33p, 30a. Alexander Syme to Henrv llasler, it was resolved that consent be withdrawn with leave to appeal. MISCELL A N ECUS. Solicitors on behalf of Wm. M’Phee the younger applied to purchase the fee simple of section 55, block IX, Glenomaru, held under o.r.p.—Approved. J. L. 11. Grove applied for the purchase of fee simple of section 5, block XIII, Rock and Pillar, held by him under perpetual lease.—Resolved to confirm recommendation that freehold he granted. A. T. Al’Caw applied to surrender section 2a, Waitahuna settlement No 2, and also asked to be allowed to graze the land on temporary license until the end of September.—Declined. It was resolved to determine temporary lease No. 2928 held by John Lothian and to issue a new lease excluding Provan’s house and to add two acres on northern bcundary. With reference to the forfeiture of miscellaneous license No. 2819, held by J. Dennison over section 34, block 11. Wakefield S.D.. aref- 10a 2r 30p, it was resolved that the license he .declared forfeited. In reference to the forfeiture of renewable lease No. 271 held by J. Dennison over section 33. block 11, Wakefield S.D., area 11a 2r 29p, it was resolved that the lease be declaied forfeited for noncompliance with conditions thereof. Improvements required section 61, block 'l, Tiger Hill district—E. N. Tohill.— Approved as fixed. Reduction of the amount of improvements required on section 18a, Conical Hills settlement, held by G. G. Kerr —area 53a “•“Resolved that in terms of section 41 of “'Hie Land Laws Amendment Act, 1913 ” the Minister be recommended to approve that the amount of improvements required on BPCtion 18a, Conical Hills settlement he rod need from £193 to £lO3. Reduction on the amount of improvements required on section 13a, Conical Hills Settlement, held by Wm. M’Peake. Area, 61 acres 1 rood. —Resolved, that, in terms of section 41 of “The Land Laws Ameudmont Act, 1913.” the Minister be recommended to approve that the amount of improvements required on the above section be reduced from £221 10s to £BS 10s. Mrs M. A. Deaker, selector of section 225, Poplar Grove Settlement, on July 27, 1921, has failed to fulfil tho residence conditions. —Resolved that 12 months’ exemption be granted, provided that the lessee works the land well in the meantime and otherwise complies with the improvement conditions of her lease. Andrew Fell acquired section 21, block VI, Woodland, by transfer at the’ hoard meeting on March 23, 1921. It was a condition of the transfer that ho bhould effect the deficient improvements within 12 months. —Resolved that lie bo given further -12 months to fulfil the conditions of his license, failing winch the license to he cancelled. Application for exemption from residence on section 2s, Tokoiti Settlement, held by James Cochrane; area. 270 acres. —Resolved that exemption from residence he granted during ihe pleasure of tho board, provided statutory improvements are effected a.s requested. H. B. Smith, les-ce of section 425, Gladbrook Settlement; 116 acres; selected on August 14, 1918; has applied for a re valuation. -Resolved to submit the matter to the Re-valuation Committee. The National Mortgage and Agency Co., on behalf of Mr A. I). Elliott, lessee of runs 220 c and 220 d, Tiger Hill (National endowment), applied io have the above run* proclaimed not to he National endowment,.—Resolved to recommend, subject to satisfactory report by ranger. Henry fiehu holds a miscellaneous lioenso over part of reserve F, town of Moeraki. The license will expire an July 9 next.— Held over. A letter was received from the University of Otago advising that the council had agreed 10 remit to each tenant on the Benmore University endowment, for one year only, being year March 1, 1921, to February 28, 1922, the difference between the animal rent reserved by his lessee and tho annual rent at which such lease was offered by public auction.—Left in commissioners’ hands. Messrs Tonkinson and Wood applied on behalf of John Taylor, of Bannockburn, settler, for the issue of a new lease over section 24, block I, and 31, block 11, Bannockburn S.D., in lieu of the original, which has been lost.—Approved. Applications by successful applicants for sections on poster No. 642 and also an application for section 17s, Poplar Grove, were approved.

COMMERCIAL CABLEGRAMS.

EAXK OF ENGLAND RETURNS. LONDON, July 13. The Bank of England returns for the week •nded July 13 afford the following comparisons with those of the previous week:

FOREIGN EXCHANGE RATES. LONDON, July 13. The foreign exchange rates are as follows compared with those last cabled:

GOVERNMENT SECURITIES. LONDON, July 13. The following are the latest quotations ior Government securities, with a comparison with those ruling last week: Last week. This week.

THE APPLE MARKET LONDON. July 10 The Sophocles Tasmanian apples arrived In fair condition. There was a good depoand for Sturmere, which brought from ltr to 16e, and a few 16s 6d Cleopatras and French Crabb brought from 12s 6d to 14s; Five Crowns, 12s 6d to 13s; and Ne.v York Pippins, 14s. Damp apples realised from Os to Us. THE WHEAT MARKET. LONDON, July 10. Wheat. -Cargos declined from 6d to Is owing to weak American advices and the erratic European exchanges. The only bid recorded is 51e for Australian on passage, for which 52s was asked. July 12. Wheat cargoes are 6d higher, under the Influence -i better American closing prices. Cargo ex chip H. H. Asquith sold for 62s 3d m quarter. Australian on passage is quoted •t 62s 6d. July 12. Wheat cargoes are firm. The demand is ■low, and prices are unchanged. The DarnBolme's consignment brought s£» 6d, trr.d a jwtrcel ex Port Denieon 52s 6d net July 15. Wheat cargoes opened firm, but closed Irregular at 3d to 6d decline. Cargo ex ©terburn, 52s 9d; ex Theodore Roosevelt, Me 6d; ex Kingsmere, 52s 3d.

FROZEN MEAT MARKET. LONDON, July 13. ! The whole of the old stocks of Australian j beef, which clogged the market, have been 1 disposed of. j Sir Joseph Cook announces that the EngI lish market has now been cleared of the ' stocks of old Australian beef which have been in cold Store since the war. Fresh meat of first-class standard will now resume its place upon the market. Consumers, he says, have the chance of supporting Empire trade, while getting a firstgrade article.LONDON MARKETS, i LONDON, July 13. Wheat cargoes closed quiet. The market was nominally unchanged. The Kurmack’s consignment sold at 52s fid. Spot was 3d i to Is cheaper, Australian, ex ship, 565. j Flour.—The market is quiet. Quotations range from 395, 6d to 40s 6d. Barley.—Australian Chevalier, 48s to 52s 6d. Oats are in buyers’ favour.—A. and N.Z. Cable. The butter and cheese markets are very quiet. The Australian export season is now practically finished. Quotations: Danish, 210 s; New Zealand, 2125, 2145. Cheese: New Zealand —white 92s ; coloured, 90s. July 14. Copper.—Spot, £63 5s 7Jd; forward, £63 14s 4Jd. [, Lead, £-24 5s and £23 7s Gel. | Spelter. £2B 10s and £2B 7s 6d. | Tin, £153 3s 9d and £153 17s 6d. Silver, 36|d per oz. i July 16. | Cotton.—August delivery, 13.05 d per lb. | Jute.—July-August shipment, £35 15s per ton. ; Hemp.—July-September shipment, £3O 10s per ton Rubber. Para, 10Jd; crepe, 7£d; plantation smoked, 7Jd. j Linseed oil, £44 per ton. Turpentine, 102 s 9d per ewt. i Sheep.—Canterbury, light, 6Jd per lbmedium, _ 6gd; heavy, 5d to sid; North Island, s^d; best, 6d; ewes, 4Jd; Australian first and seconds, 4£d; ewes, 4gd; South ! American, heavy, 4fd. , Reef —New Zealand frozen fores, 2*d • chilled Argentine hinds, 5Jd; others unchanged. j , DAIRY PRODUCE. ' el ling ton Press Association message states that the National Dairy Association of New Zealand h<a-s received the following- , cable from its London office, dated July 6: j Both the butter and cheese markets are weaker, with less demand. Butter prices: New Zealand, 220 s to 2225; Australian, 2165. Cheese: White, 90s; coloured, 88s. TRADE RETURNS. LONDON, July 13. The British trade returns for the June quarter show that imports decreased, by j £3,873,723, and exports increased by £13,993,713. The principal decreases in imports were:—Grain and flour, £6,547,477; meat, £2,189,12'); non-dutiable food and drink £3,071,785; coal, £5,022,371. The chief increases in imports were: Raw cotton, £3,450,626; wool, £2,761,242; timber, £1,964,110; oil and seeds, £1,516,906. me principal increases in exports were: —Coal £0,379,269; cotton yarns and manufactures, £4,456,003; woollen manufactures, £1,632,0.W ; iron and steel manufactures, £1,501,505. There was a decrease of £2,963,228 in the value of the machinery exported. THE TALLOW SALES. LONDON, July 12. At the tallow sales 1522 casks were offered and 1145 wero sold. There was a good demand at late rates. Mutton, 41a to 36sbeef, 41s to 375. THE TEA MARKET. . t ~ „ , DELHI. July 12. At the Calcutta tea. sales: good liquoring i'PPy qualities in strong demand, and were firm. All other sorts were quiet, and prices were lower by one-quarter of an anna to one. anna end a-ha.lf. Dust sold freely. Fannings -were slow. FOREIGN EXCHANGES. LONDON, July 12. The mark has appreciated to 1890. This has had a strengthening influence on Fiance, which has rallied to 53.85.

THE CORNWALLIS APPLES. The National Mortgage and Agency Company has received- cable advice from their London office advising that the Cornwall’s shipment of Central Otago apples has arrived in a satisfactory condition, and that sales are being made at 16s to 18s per case, ex store. AUSTRALIAN MARKETS. MELBOURNE, July 14. Barley: English, 3s lOd, 4s; Cape, 3s. Oats, 3s 2d, 3s 4d. Potatoes, £6 10s, £7. Onions, £l3. July 14. The hides market lacked animation. Values are unchanged. SYDNEY, July 13. Oats: Algerian feed and Tasmanian, 4s to 4s Id; white, 4s 3d to 4s 4d. Miaize: Yellow, 6s 4d; white, ss. Potatoes: Tasmanian, £B. Onions: Victorian, £l4 10s to £ls. ADELAIDE, July 13. (Received July 13, at 9.55 p.m.) Oats, 2s lOd to 3s. THE WOOL MARKET. LONDON, July 13. At the ‘Bawra” wool sale at Hull 2270 bales of Australian and a few New Zealand were offered to a good attendance, and competition was fully firm on the Liverpool sale’s basis. Ninety-six per cent, of the wool offering was sold, and the best wools continued in solid favour. The Bradford tops market is very quiet, and quotations are nominally unchanged-

THE WOOI. MARKET. -

CROSSBRED SUPPLIES. LONDON, July 10. “Bawra” has issued a statement in the effect that the crossbred wool in ite bands has diminished during the last two years by 239,000,0001 b, while stocks in the Argentine and Uruguay decreased during the same period by 131,000,0001 b. Allowing for all deauctions, there is an absolute certainty that the world’s supply diminished by 220,000,0001 b and possibly by 240,000,0001 b or 260,000,0001 b. After allowance is made for from 80,000,0001 b to 50,000,0001 b of increased crossbred stocks in the bands of dealers -and manufacturers, “Bawra” declares that the surplus crossbred / wool in tbe Southern Hemisphere was almost wiped out m 1921. During 1921 the River Plate shipments totalled 633,000 bales, which is double the estimated amount of the next clip. Practically the whole of the Australian and South American crossbred purchases have been made for Europe, the United States taking less than a quarter of her usual share. In view of the above facts, “Bawra,” supported by many leading buyers, considers that time will be required to digest the recent heavy purchases of crossbreds ; therefore it has been decided to withdraw’ as far as possible all medium and coarse crossbreds from the July to the September sales. “Bawra’s” offerings at the July sales ore: Australian, 285,0001 b: New Zealand, 104,0001 b; Cape, 46,000 lb; Free Australian, 44.0001 b; New Zealand, 39,000 lb; Cape, 20001 b; Falkland. 20001 b; Puntas Arena*, 18,0001 b. SYDNEY WOOL SALES. SYDNEY, July 10. The final series of wool sales of the season has opened. The offerings were mainly dusty and burry sorts, and, owing to the poor quality, competition was dull. Japan, France, and Bradford buyers w'ere the main operators. , July 13. The final series of the wool sales has concluded. The offerings were chiefly of a medium character, and a ■ large number of the clips were burry end dusty. Competition was keen. Merinos and skirtings closed firm at the level of the rates which ruled throughout the series. The next series will commence in October. THE OAMARU MARKETS. (Fkom Our Own Correspondent.! OAMARU, July 15. Deadly dullness still prevails in all departments of the local markets. Even sales of milling wheat have, in the meantime at least, ceased to relieve the monotony of a stagnant market. There is still a good quantity of prime quality in the hands of growers, and it seems likely that they will have to hold it foi some time yet. So far as can be ascertained, the report of an intention on the part of the department to export some Tuscan wheat from here appears to bo premature, nothing definite having yet been decided upon. A fair quantity of fowl wheat of varying quality is under offer, but fails to find an outlet, though a line of smut-tipped was placed at 4s, f.0.b.,' sacks extra. Some growers of oats have shown an inclination to modify their ideas of values, but a wide divergence of opinion on the point still keeps would-be sellers and possible buyers apart. Tbe only transaction reported during the week is the sale of a line of milling Cartons at 2s 6d net delivered. There is no movement in barley or oaten sheaf chaff, and of the latter little is heard on the market. Holders of cowgrass seed remain firm in their resolution not to sell at current prices, and no business is reported. A little business lias been done in potatoes at £5 net on trucks for prime table Up-to-Dates. SOUTHLAND MARKET REPORT. (From Our Own Correspondent.) INVERCARGILL, July 14. Oats. —The market is iu much the same condition as in last week's report, there being nothing in the shape of a movement at all events in prices. Very little is offering by farmers, and when anything approaching A’s is offered such prices are asked that makes business impossible. Prices to growers are on a basis of 2s 2d for A grade, 2s for B’s, and Is lOd for “g.f.a.q.’s.” Lower quality considerably lower. These prices also depend t-o some extent on the distance of the sidings from port. Little business with northern merchants has been done during the week, but the s.s. Wanaka, just loading, is taking away a considerable quantity in execution of earlier contracts. Chaff.—-Considerable quantities are being offered by fanners, but the quality in most cases is on the low side, being more or less discoloured. It is difficult to obtain for such chaff anything exceeding £3, and lines approaching prime quality are worth £3 5s on trucks, country siding®. Wheat. —Fairly considerable quantities of under-grade wheat are being offered by growers, but at such prices that shipping business is impossible, while the majority of farmers are hopeful that later on their somewhat under-grade wheat may be taken for milling. Good whole fowl wheat is worth, on trucks, about 3s 6d per bushel. Ryegrass.—The market continues firm, onlv an occasionalline being now offered by growers. Specially clean lines from the mill approaching 261 b per bushel are worth 3s 6d on trucks, lighter lines proportionately Jcsb down to 2s 9d for 20lb to 211 b teed.

THE RABBIT SKIN MARKET. The Dunedin Woolbrokers’ Association (Messrs Daigety and Co., Ltd., Todd x>ro», Ltd., National Mortgage and Agency Company, Ltd., New Zealand Loan and Mercantile Agency Company, Ltd., Otago Farmers’ Co-operative Association, Ltd., Donald Reid and Co., Ltd., Stronach, Morris, and Co., Ltd., and Wright, Stephenson, and Co., Ltd.) report as follows:—Large catalogues were submitted this week to a full attendance of buyers. Competition was much keener and all offerings were cleared, values for the better qualities of skins advanced 3d to 6d per lb on last sale’s prices, and other descriptions realised much the same as values paid a fortnight ago. We quote:—Super winter does, 95d to 98d; first winter does, 82d to 90d; second winter does, 70d to 77d; super whiter bucks, 84d to 88d; first winter bucks, 75d to 82d ; second winter bucks, 68d to 74d; early winters, 60d to 66d; incoming winters, 52d to 60d; late autumns, 46d to 52d; early autumns, 32d to 38d; prime racks, 22d to Qs|d; light racks, 16d to 18Jd; spring does, 17d to 19d; spring bucks, 15d to 16cl; outgoing winters. 36d to 4fld; summers, 15d to 18d; winter black, 70d to 76d; autumn black, 32d to 48d; winter fawn, 48d to 56Jd; autumn fawn, 24d to 30d; hareskins, 30d to 42d; catskins, is 2d to 2s each; horsehair, 28d to 35Jd. The National Mortgage and Agency Cornmany, in their London report dated May 27, state: Rabbit Skins.—Since the last sales there has been a good general inquiry for all grades. The furriers especially hare been much more active and a fair number of the best, grades of New Zealands which weTe withdrawn from last sale have now found buyers a.t very full prices. Stocks are now very small indeed. There wjßjJbe barely 1500 bales available fo;* the "next sale on let June, as against something over 5000 bales for tbe corresponding sale last. year. It is generally expected that prices will at least recover to th 9 January level and perhaps even more. In our opinion, the higher range of prices will probably continue until the new season’s skins arrive, and then everything will depend on the quantities produced. PROPERTY SALE. Messrs Alex. Harris and Co. hold a wellattended property sale at their rooms on the 13th. Tbe following freehold properties were offered at auction and sold:—Allotment 4, part subdivision Richmond Hill, Mornington, containing 11 poles and seven-roomed house, to Mr G. Drysdale, at £210; sections 1,2, 3,4, 5, block XU I, Uutram. containing 1J acres, with five-roomed dwelling, situated in Orme street, to Mr Howell, at £215.

6. July 13. Ooin and bullion ... £126,#34.000 £126,070,000 Jlescrre 22.385,000 22,102,000 Proportion of reserve to liabilities, p.c. 15.00 17.60 Uote circulation ... 166,645,000 124,249,000 Covernment deposits ... 14,022,000 12,612,000 Other deposits ... 133,393,000 112,375,000 Government securities ... 67,987,000 47,103,000 Other securities ... 75,819,000 73,663,000 Short loans, 1J per cent.: three months’ bills, J per cent.—A. and N.Z. Cable. Consols are quoted at 68£.

London on Par. July 10. July 13. Paris., fr to £1 . 25.225 56.60 54.16 Christiania, kr. to £1 .. . 18.152 27.08 27.00 ©open ha gen, kr. to £1 18.159 20.65 20.60 Stockholm, kr to £1 . 18.150 17 24 17.14 Berlin, marks to £1 . 20.43 2345.00 1820.00 Montreal, dol. to £l 4.86 2-3 4.51 4.49* Kew York, dol. to £1 ... 4.86 2-3 4.44$ 4.44* Hongkong, st. to dol. ... * 32*d 31*d Yokohama, st. to yen .. . 21.59 26|d 25|d Calcutta, st. to rpe. 10 to gold £1 15Jd 15jd Borne, lire to £1 25.22* 100* 98 • Determined by price ol silver.

s H*!?I?** , ***?^ e ?*>*-*H ** x * * >• >>.* ™ ?“ 1® S’sE'P ppB , P 0 jn®? 5 i'!”f o S 5 gw “ » - - u” u" ' ' ~ e. a a ' ' “ M 3 =3 *3 3 *58“ c$ ? ?? 3 g «£„«' u; '"' fc . -' - - J ‘ ' v. " :.f ’ i-. -“"■Ti— P " • U?” * «• ■*; '* * - T i-,E£“ : ££" S" 1 5. SS9. s ?9-- r - . 8. 5' ?? »J, 8- : .•• S- JjfjJSg *. ■? ■E Sp e: & 5. J3& E.. . . £.. ic££o£. S. . r. pCT. E. 5: ££ ■?« D S ."D Is* s? r §33a8£8BSS§8£33KS8 SSS3 £8 § 8 “ •» ** ft O O O O © O O C © O O 0 0 O O © K> 0000 0 ew O O ° © » 0 0 O O O 0 0 © c 0 0 O 0 O 0 O a» ©©0© 00 0 © 0 © &> O *«.l 00 *J ® OB fl! CB CC 3> Cfl ?6 M M 50 © O *>1 -| 00 C5 © © S2 C* © ilk. M «35«0 © © CCOOOOOOCOCOCOOOK) © © © © ©Cl © © ° 1 Ej 1*5 1 ©? J ©O©co©©©©o©©©c©©a: © © © © © © © © ° of 1 !