MORTGAGE FINANCE.

Star (Christchurch), Volume LXVI, Issue 20543, 19 February 1935, Page 9

MORTGAGE FINANCE.

Chamber of Commerce Make Enquiries. CABLE TO CANADA. Per Press Association. WELLINGTON, This Day. The Associated Chambers of Commerce of New Zealand recently cabled to Canada as follows;—“The New Zealand Government proposes legislation for farmers’ rehabilitation. Reported here that similar action is being taken by Canadian Parliament. New Zealand proposals include allowing certain mortgagors where court so rules to retain at the expense of mortgagees, up to a maximum amount of 20 per cent of the value of their land, ascertained after a supervisory period of five years. Is there a proposal similar to this in Canada?” The following cable from an authoritative source has been received in reply:—“While meaning of your cable not quite clear to us, the Farmers’ Creditors’ Arrangement, Act, a copy of which we are sending you by mail, contains no provision similar to that described by you.” TRADE WITH JAPAN. Impressions of New, Zealander. Per Press Association. AUCKLAND, This Day. “There is a definite aversion to New Zealand lamb and mutton in Japan,” said Mr W. E. Barnard, M.P., on his return to-day after a three months’ visit to the Orient. “ Moreover, they do not like our salted butter. I am afraid there is little prospect of a profitable export trade developing in these products.” Most people he spoke to had heard a great deal about Australia, but distressingly little about New Zealand. Australia’s trade mission to Japan did an enormous amount of good, and he thought we would be well advised to do the same, so that unexplored markets could be opened up and the Dominion be made better known. The most likely markets that could be. developed, apart from wool, were dried milk, hides, skins and tallow. In general comment. Mr Barnard spoke of the Japanese people’s intense loyalty to the Emperor, and their intensely natiohal feeling. Although workers were low-paid by comparison with our standards, they were not sweated. “ The great thing to remember in dealing with Japan.” said Mr Barnard, “ is the over-sensitiveness of the people. They imagine that the world is against them and are quick to take offence. There are great possibilities of trading with Japan, but we must understand each other before there can be any success.” DOMINION PRODUCE. High Commissioner’s Cable From London. The Department of Agriculture has received the following cablegram, dated February 16. from the High Commissioner for New Zealand, London:— Tallow—Market firm; no change In values. Hemp—Manila: Market quiet. but steady at last quotations. Sisal: Market firm and demand is good. Afloat sold at £ls ss; February-April shipment at £ls 2s 6d; and April-June shipment valued at £ls 7s 6d. New Zealand: Market nominal in absence of business. On tha basis of fair grade £l4 15s. Apples—Good supplies available; moderate demand continues. English Cox’s Orange, 9s to 13s half-boxes; British Columbia boxed apples prominent. Newtown Pippin, 12s to 12s 6d; Washington and Newtown Pippin, 12s 6d to 13s 6d; coloured varieties easier, 9s 6d to Pears—Market firm and demand Is good. Californian Winter Nelis, 15s to 16s; Anjou, 14s to 15s; South African Williams, three-quarter cases, 10s to 13s. GRAIN AND PRODUCE. Only minor changes have taken place in the grain and produce markets in the last few days. The major portion of the wheat crop has been handled. Fowl wheat remains firm. The first of the season’s red clover is coming on to the market and prices range from Sd to 9d per lb. The general quality of the partridge peas offering is fairly good. Farmers are not keen sellers of potatoes, and the North Island demand is quiet. Prices have eased slightly. The supply of onions has overtaken the demand and prices are somewhat weaker, with the market quiet. Following are prices quoted to be paid to farmers on trucks at country stations, sacks extra unless otherwise mentioned:— Milling Wheat (new season’s)—February delivery: Tuscan 4s. Hunters 4s 2d, Pearl and Velvet 4s 4d f.o.b. Fowl Wheat—3s 8d to 3s 9d a bushel. Potatoes (April, May, June delivery) —White £4 ss, Sutton's and Dakotas £4 7s 6d. Onions—Prompt £6 10s to £6 15s. Ryeg^ss—Perennial Italian and Western Wolths, 2s 6d to 3s. Cocksfoot—Akaroa, 8d to lOd. Oats—Cartons is lOd to 2« Id, Algerians is 9d to 2s, Duns is 9d to 2s a bushel, according to quality. Chaff—£2 7s 6d. Clovers—White, 6d to 9d; red, 8d to 9d. Linseed—£l2 a ton. Partridge Peas—4s 2d to 4s 6d. Bran—Local £4 10s, shipping £4 ss. Pollard—Local £5 15s, shipping £5 ss. Flour—Local £l2 12s. shipping £ll 17s, with the usual increments for smaller packings. • TINWALD STOCK SALE. (Special to the *' Star.”) ASHBURTON, This Day. There was a good entry of fat sheep at the Tinwald sale to-dHj% and quality on the average was better than recent sales at Tinwald. Prices remained about the same as those realised at the Ashburton yards last week. The yarding consisted chiefly of ewes, top price to midday, 15s lOd, going to G. H. Nicoll, Newlands, for a pen of six, while 14s 4d was received by H. Watts, Willow by, for a pen of 18. Wright’s Estate, Lagmhor, sold several pens at prices ranging from 13s Id to 13s 7d; J. B. Stevenson, Tinwald, 12s lOd to 13s Id; T. Read, Eiffelton, 12s lOd to 13s Id, and K. Hopkins, Tinwald, 11s 4d to 13s Id. A. L. Butterick, Kiffelton, sold two pens of fat wethers at 17s lOd to 20s lOd, the only other lots sold realising 14s od to 14s lOd. A client headed the fat lamb section with two at 22s 4d. Prices for the balance of a small entry in butchers’ pens ranging from 15s 10d to 21s Id. There was a limited entry of cattle. Fat cows sold at £2 10s to £5 12s 6d, and a fat heifer sold on account of P. A. M’Lean, Lowcliffe, brought £5 17s 6d | each. Empty cows brought from 10s to 30s. j TEMUKA STOCK SALE. TEMUKA, This Day. I Good quality fat cattle showed a j sharp rise of nearly 20s per head at \ to-day's Temuka sale. Medium ami | light-weights showed no appreciable dif- • ference in values. It is expected that if i drought conditions still prevail, fats • will rise still higher.