COMMERCIAL.

Sun (Christchurch), Volume VII, Issue 2116, 25 November 1920, Page 8

COMMERCIAL.

METALS. By Cable. — Press Association. — Copyright. (A. & N.Z.) LONDON, Nov. 23. Gold is .soiling nt 115/10 per or. Th» United States is taking ail that is offered. Industrial metnls are weak. There is con. siderable pressure to sell tin, copper, mid lead, but there is only hand-to-mouth buy"l(s.

TIMARU SKIN SALES. Press Associatioii. ~ A , m TIMARU, November 24. At the first sheepskin sale to-duy, 6409 skins were catalogued. Dry killed skins sold about on a par with late Chrlstchurch sales. Few salted skins were sold, offers being much below reserves. LONDON MEAT "BATE." CUSTOM TO BE DROPPED. Press Association. WELLINGTON, November 24. An old grievance of shippers of New Zealand meat to London was the trade custom there of allowing a "bate" of 21b on each freight carcase of mutton and lib on each freight carcase of lamb. The purchaser of 601b of mutton paid for 581b. This custom g>* not prevail at Bristol or any other British centre where New Zealand meat washandled. The "bate" was not taken during the yyar years, when frozen meat was being handled by the Imperial Government, but exporters at this end were assured that London buyers would require Its revival when the War contracts ended. The Prime Minister (Rt. Hon. W. P. Massey) stated to-day that the old arrangement whs not likely to be revived. Th* matter had been discussed, and It appeared that the parties concerned were agreed that In future buyers of New Zealand meat la London should pay for actual weight delivered. PALL IN CHEESE PRICES. BOTTOM NOT - YET REACHED. Press Association. WELLINGTON, November 24. The best information from people at Homa who are competent to advise on matter* connected with cheese and butter, Is that those dual plants which can be switched from cheese to butter should be turned on to butter. Mr J. T. Martin, during a debate at the sitting of the Chambers of Commerce Conference, said that the latest reports were that it was no longer posslbln owing to the rote of exchange to sell Canadian or New Zealand cheese to the Continent. In four weeks the Canadian market had fallen to the extent of £5 per ton, and the fall in New Zealand cheese was £lO per ton compared with prices ruling two months ago. It was not known yet whether tho bottom had been readied, and in fact there were indications that the fall would go still further.

It was resolved by the conference that In view of New Zealand's dependence on overseas shipping for the marketing of produce, the Government should be urged to take. such steps as would insure the maintenance Of reasonable freight charges and regularity of service to which New Zealand products were sent. The executive was instructed to make representations to the Government on * matter. STARR-BOWKETT SOCIETY. SUCCESSFUL FIRST YEAR. The first annual report of the Christchurch Starr-Bo wkctt Building Society, which is to he presented to the annual meeting on Thursday, December 2, shows the society to be in a very flourishing condition, inasmuch as, during the flrst year of Its existence, it has been successful In issuing the whole of the 5000 shares composing Its flrst group. This achievement Is believed to be a record for New Zealand.

The profit and loss account of No. 1 Group shows a balance of £4038 15/8,- equivalent to 18/7 per share. The greater part of the profit was obtained by way of premiums, the repayment of which extends over tba period allowed for repayment of The separate loans. During the year the society held 16 appropriations of £IOOO each, eight by ballot and eight by sale, the premiums for the latter amounting to £4309 10/- The directors emphasise that the exceptional rise in the cost of building and the corresponding rise in the market value of house property have necessitated great care in ?assing loans. On studying the expenditure or the year, it was found that next year a reduction of 6d per annum per share on the working expenses levy could be made, the amount thus being 1/3 per share per half-year. Owing to the large demand for shares, and the fact that the Group 1 was fully subscribed, the directors decided to form Group 2, and have already received a large number of applications for shares. Messrs J. B. Neale and H. L. Bowker, Jun., retire, by rotation, from the directorate, and Mr Neale offers himself for re-election. The statement of accounts shows the following liabilities:—Subscriptions, £12,900 12/-; loans appropriated but not taken up, £4250; balance from profit and loss account, £4058 15/8. The assets shown are:—Loans, £15,500; premiums, £4309 10/-; repayments (on advances £309 2/fi, on premiums £8» 0/8), £4-19 9/2; preliminary expenses, less 20 per cent., £l5O 17/10: unpaid levies, £B9 10/9; in bank, £22C2 12/3. THE EGG MARKET. The weekly sale of guaranteed fresh eggs, on behalf of the Canterbury Egg Farmers' Co-op. Asoclatlon, was held in the rooms of Messrs Harris Bros., 158 Hereford Street. There was a sharp decline In prices, compared with last week's prices, owing no doubt to the continued line weather and unprecedented quantities offering. All lots were sold at the following prices:—Hen eggs, first grade 1/5 to 1/(1, second grade 1/4, ducks 1/4 to i/5, New Zealand Utility Poultry Club 1/4}. .«