COMMERCIAL.

Press, Volume LX, Issue 18229, 13 November 1924, Page 12

COMMERCIAL.

MORTGAGES. HALF-YEAR'S RETURNS. Particulars of the mortgages registered and discharged during the halfyear ended September 30th are as follows: Registered. Discharged. £ £ - Auckland ... 6,428,125 4.114,614 Poverty Bay 594,911 585,630 Hawke's Bay 1,333,686 1,162,410 . TaranakL ... 1,041,979 . 885.511 Wellington 5.093,880 3.548.920 • Nelson ... 281,578 . Marlborough -438,203 367.446 Canterbury 3,219,785 -2,201,428 Otago ... 2,405,753 884,693 Southland ... 753,245 "558'.651 Westland ... 56,901 28,590

• Total ... 21,648,046 14,378,095 The totals -for the six months, 192223, were: Registered, £10.852,994: discharged, £10,935.322. A Wellington financial authority stated this week that the increase in the amount of mortgages was probably dtie to increased activity by the State Advances Department, following a recent accretion of capital; development of building activity; and the fact that •monev was more freely offering for mortgages than last year.

PRICE OF SUGAR. ANOTHER REDUCTION. (PEZSS ASSOCIATION TELIGBAKi) AUCKLAND, November 12. .The wholesale price of all grades of raw and refined sugar has been reduced ■£l a ton By the Colonial Sugar Refining Co. This decision is attributed to the large world's supply, and is the fourth made in recent months, the aggregate reduction since last May being £6 10s. ELECTRICAL GOODS. INCREASE IN PRICE PREDICTED. (SPICUX. TO "tbe FUSS.") AUCKLAND, November 12. • 'An indication that prices for electrical supplies'in the Dominion will shortly Have to be increased .was given by Mr G. L. Thorburn, manager of the Electrical Construction Company, who returned oil Mo:-.day by the Makura from an extended ■ trip to Great Britain/, the Continent, add Canada. Mr Thorburn said that while iri England manufacturers of electrical goods and appliances told him that .they were snSermg from the keen competition at present existing in New' Zealand. Several, of them stated, that they were selling certain, lines at a very serious . loss;..in their, .endeavour to keep the . Colonial jnarket. Most of them were desirous of keeping their plants employed- in tho,. hope that better marketing conditions would shortly prevail, but ' the opinion was generally held that the time was _ not'far distant when prices foi* electrical -.goods in- the Dominion v must be; raised to; a level where they IVQufcl -give , a, reasonable return. / .During his tour Mr Thorburn visited Germany. He found that Berlin lacked the .-buoyancy which he hadi ■ expected from reports einanatirig from;, .that Living in to be very dear, and from what he could learn the cost of living v was considerably greater than it was two years ago. However, the Germans, claimed that they were going out after their share of the export business. Mr 4 Thorburn learned that the Ger- ( mans were already finding a ready mar- : ket for their goods in England, and to of the English . buyers; contrasted strangely 'with ■ that of thei British. Dominions where there was a. in. favour of the Bri- ■ tish manufacturer.. The attitude of a number of the EnglisTT buyers seemed! ...to be, "Well, the war is over. Why should riot . buy in the best markets?" ...'... , Mr Thorburm instanced the case of a loyal English business man. who wished to buy' only British goods, but was faced/with- the competition, of his competitors who bought German goods at ' a-cheaper rate. He desired to purchase d line, of-porcelain articles -which the Germftns quoted 'at* 2d,-, whereas a similar article made in England . could not he procured for less than sd. He asked the British manufacturer to meet him at a price reasonably 'close to that of the 'Germans, but was told I that it',, would?: be impossible to cut the pricp- So.he was placed in. the posi-'t-iori ''of either from Germany hr allowing his competitors to take his /business awav frorii him. ;".That, Biid:Mr Thorburn'wasan indication of what was taking place in 'England.

£21,500 OFFERED. HOTEL PROPERTY PASSED IN. consisting of 30* perchesv 0f,..1and,....0n - which is erected tho Sha'dee Hotel, Hereford street, was offered' auction yesterday mcrning Norton and Co. There was a fair attendance of prospective buyers. Bidding;.-commenced at £IB,OOO and rose 600, which figure* was not acceptabje. tp the owner, thepropertv bemgconsequently passed in..

• ISSUE OF WELLINGTON •DEBENTURES.' ' (Bl CASUS—fcRBBB ASSOCIATION—COPIBIOST) (ACBTBAUAN. AND K.Z. CABLE ASSOCIATION) , (Received November 12th. 8.40 p.m.) . LONDON, November 12. . The financial -writer of tho "Morning Post" B»ya. jus-issue of._ £387,900 5 per cent, deV beniure4 .-6f "the' city of \Wellinglon is to-be" <m-4Ee'niarkot. Particulars - are ad■vertiSod in ■ connexion with an application'for permiwion-to-deal therein. The debentures form part of tho water supply loan of 1920, and sro redeemable at ' par on December Ist, 1940.

THE GOLD STANDARD. SOUTH AFRICA MAY RETURN. CAPE TQWN, November 11. The possibility, is being l discussed of South ■ Africa eood returning to 'gold currency >ns - a consequence of the falling price of gold on the London . market, together with the increasing- exchange rates imposed by banks. It may soon be more profitable to - the nailing industry to send gold to Pretoria mint to. bo converted into sovereigns than . to : eell it in London. It would then be <£> possible for industry to pay wages and to purchase South -African/ stores in ■ goldaijiounting to £1,500,000 monthly, si "il* 1 " ' u Mint authorities admit that this is . practicable, v— ■ . ' "■