ROWING

Poverty Bay Herald, Volume LV, Issue 17230, 9 April 1930, Page 14

ROWING

G.R.C. PRESIDENT'S FOURS RACING UNDER DIFFICULTIES One further heat in the Cisbornc. Liowing Club's four-oar series for the president's trophies was rowed ell last evening, the contest being completed under difficulties. The tidal conditions were not suitable for racing, and at one ' stage there was insufficient water to I properly iloat one of the boats, the crew in that craft having to suspend their : efforts and let the boat run over the shoal. | The competing crews comprised H. Stewart (str.), 11. Knox, J. Morrison, and Seymour; and (1. Weathei ley (str.i, | I). Coates, VV. Stevenson, and W. Cab j laghan. Stewart's four started best, and before a quarter of a mile had been covered had gained a lead of over a length. Clear water showed between the boats at Roebuck road, but Stewart ran into shoaling water near Ballanco street, and before he was clear again he had lost his advantage. However, after a sharp struggle, he again asserted his superiority, and eventually he won by a length. The conditions should be] much improved this evening, when theseries will be continued. j

COMMERCIAL A.M P. SOCIETY The Si <* a-nnual report u n the opera lions of the A.M.I'. Society fur the year ended Hecom'bor .'ll las! is now ill circulation amongst the large number of policy-holders throughout the Dominion, New policies were written in the ordinary di pariiuen; for £ 1.1,107,01">, which amount has only once been < xceeded in the history of the society, viz., in 1028—a result which must be lookid upon as go,id, taking into consideration i h ■ depressed stale of business in general in Australia. Xew business written in the industrial department w, s £4, '■'>.<'.. D lit, a record for that department. Interest received during the ycai came to £ll 807.088 in the ord;:iar\ department, and £-104„'i7() in the industrial department. 'both amounts showing a large increase over the ligui'i s of t he preceding year. Payments load • tor death and matured claims (including bonuses) in the ordinary department amounted to over £0,.100,000, and in the industrial department over £.1.10,0(10. The accumulated funds of 'both departments have been increased by over iM,.100,000, ami now stand at £70,770,0.1,1. The investment and contingency reserve fund has been increased by C2"l),llti(l and now .Mauds a; £800,000"; the book value of nl'iire premises and other assets have been I'm ther written down by £70,00,1 14s Od. After providing these reserves,- the cash surplus available for division amongst participating policy holders in the ordinary depart men', i s nearly £M,OfIO,OHO, which will provide reversionary .'bonus addit bins id' over £.">,0(10,000, and in the industrial department £211,.184, providing reversionary additions -of .C.'iOO,000. The society was called upon to pay very largely increased taxation in Australia las! year, but economical 'management anil judicious investment of the funds, reveal that the rale of interest realised on the mean, funds was t-1 I Is -Id per eenl., as against £.l Lis .Id in !925, and what is more important, that the rate of expenses (excluding taxation; showed a reduction as compared to the previous year, the respective figures being 1 1.70 per cent, and 12.1;; per rent, for the ordinary department, and 27.30 per cent, anil 27.7-1 per cent, for the industrial department. The Xew Zealand branch created a record in both department* in new business. THE WOOL SEASON SALES AND EXPORTS DOWN The offerings of wool at Dominion sales daring .March were 12.8,167 bales, of which 105,962 bales were sold. Returns compiled by Messrs. Dalgety and Co. covering the current wool season show that the offerings and sales for the nine months ended March 31 compare as follows with those for the corresponding period of 1928-29 season:— 1929-30 192329 Sold Offered Sold Invereargill ... 28,677 37,592 35.137 Duiiedin ... 60.757 86,992 83,236 Timaru ... 24,587 35,316 32,324 f'hrislchuivh .. 66,398 81,301 77,332 Blenheim .. 39 133 91 Wellington .., 70.455 124,408 115,234 Wamramii ... 29,999 62,278 54.723 Napier 60,073 10;;,°iM !C0,846 Itisborne ... 442 I. ?! 8 1,446 \iickkind . 43.6 b. 51,672 [0,23'.' 891.013 588,304 551,349 While the offerings IMs season were 1.19,556 bales less than last year, the 'et \'il sales show a decrease of ,1/O.JC6 hales. ( Exports ol wool last moiilh wvrv ; 5 912 I .ale; The total shipments for the nine months to March 51 were 425.667 bales, eompaied with 548,095 bales for the corresponding nine 'months of 1928- , 2:!, a decrease of 122,426 kales. J f