LONDON METAL MARKET.

Otago Witness, Issue 4032, 23 June 1931, Page 19

LONDON METAL MARKET.

LONDON. June 18. Following are the official quotations tn the metal market:—

BANK OF ENGLAND RETURN mi rll • . LONDON, June 18. the following is the Bank of England return:— ISSUE DEPARTMENT. Note issue in circulation .. £352,265,813 Banking department .. ~ 68,660,563 £420,926,376 Government debt .. .. £11.015,100 Other Government securities 232,685,515 Other securities 12,207,226 Silver coin 4 092 j 59 Gold coin and bullion .. £420,926,376 BANKING DEPARTMENT. S” irietors’ capital .. .. £14,553,000 . ....... 3,307,602 , <lc P oslts .. .. .. 15,017,431 Other deposits (bankers) .. 71.445.689 Other accounts 33,681,067 Seveu-day and other bills .. 1,360 £138,006,149 Government -securities .. £30,845,906 Discounts and advances .. 9,395,435 Other securities .. .. 28.043,818 Notes in reserve .. .. Gold and silver coin .. .. 1.060,427 £138,006,149 The proportion of reserve to liabilities is 58.00 per cent. Short loans are quoted at H per cent.; three months’ bills at 2 3-32 per cent. LONDON STOCK EXCHANGE LONDON, June 16. Dalgety and Co.’s shares, £4 15a; 4 per cent, debenture stock, £66 10s. PRICE OF FINE GOLD LONDON, June 18. Fine gold is quoted at £4 4s Hid per oz BEET SUGAR ■ LONDON. June 18. Beet Sugar.—July, 6s 3Jd. LONDON FRUIT MARKET The secretary of the Otago Provincial Fruitgrowers’ Council advises that the High Commissioner’s cabled report tor the week ended May 13 on the London fruit market is as follows: — Market remains firm, but likely to be affected by soft fruits during the next two weeks. The Tamaroa shipment is selling at present. Current prices are: — Apples.—Jonathan. Dougherty, Statesman. Rome Beauty. Ballarat, Rokewood, and Delicious, 12s to 14s; Sturmer, Ils to 13s; Granny Smith, 14s to 16s. Pears (ex Rangitane).—Winter Nelis and Winter Cole. 12s to 18s. HIDES MARKET LONDON, June 20. Huies: Meatworks drvsalted, Queensland, 351 b to 451 b. sd; 301 b to 401 b, 251 b to 351 b, 201 b to 30!b, 43d; • New South Wales, 351 b to 451 b. 5-Jd: others. s|d; wetsa.lted Queensland. 501 b to 601 b, 48; 401 b. ‘to 501 b, 3Jd; New South Wales, 4Jd and 4|Jd; Victoria abattoirs, 4gd and 4jd. BRADFORD MARKET LONDON, June 18. Bradford. —The market is weak. Business is practically nil. Seventies, 24d--64’s, 21 d; 60’s, 20d; 56’s, 131 d; 50’s, 12d46’s, 9 Id; 40’s, 9£d. FROZEN MEAT MARKET Messrs Dalgety and Co.. Ltd., have received the following cablegram from their head office. London, dated June 18: — Lamb.—The market for New Zealand lamb shows that any change will be in favour of the buyers. The demand is moderate. Quotations: —New Zealand prime Canterbury iamb, 28/361b, 7?d; North Island, 28/361b, 7jd; Canterbury, 36/42ib, 73d; North Island, 36/421b 7jd; Canterbury, second quality, 63d; North Island, second quality, 6.]d; Canterbury, 42/501b. 7Jd; North Island, 42/501b. 6Jd South Down lamb is selling at Jd premium

Mutton. —The market for New Zealand mutton is weak, and the demand is quiet. Quitations: —Prime Canterbury mutton 48/561b. aid; North Island, 48/561b. 5Jd: Canterbury, 56/641b, sd; North Island 56/6,lib, 4§d: Canterbury. 64/721b, 4ld; North Island, 64/721b. 4)d; Canterbury ewes 48/641b, 4d; North Island ewes, 48/641b, 33d.

Beef. —The market for New Zealand beef is nominal. The demand is nil. Quotations: —New Zealand prime ox beef, hinds 3d, fores 2}d; Argentine chilled, hinds 6d, fores 21d. Pork.—The market for New Zealand pork is unchanged. The demand is limited. Quotations: —English porkers, 80/1001b, 9d; New Zealand porkers 80/100Ib 51d--100/1201b, sd. ’ “ ’ Australian Lamb.—The market for Australian lamb is unchanged, and the demand is moderate. Quotations: —G.A.Q. Australian lamb, 28/361b. 6d; 36/421b, Gd; F.A.Q., 28/361b, sj|d. Third Australian lamb is not quoted. Australian Mutton.—The market for Australian mutton is weak, and the demand is poor.—Quotations:—G.A.Q. Australian mutton, 40/601b, 4d; FA 0. 30/551b, 33 d. . LONDON MARKETS LONDON, June 20. Frozen Meat.—New Zealand sheep: Canterbury and North Island selected crossbred, wethers and maiden ewes, 57/641b, 4Jd; 65/721b, 4Jd; North Island ewes, 65/721b, 3jd. New Zealand lambs: Canterbury, 361 b and under, 72<1; other South Island brands, 361 b and under, 7§d; selected N°rth Island brands, including Downs, 361 b and under, 7Jd; 37/421b, 73d. Australian frozen beef: Ox erops, over 1001 b, 2d. Argentine chilled beef: Ox fores, 1601 b to 2201 b, 2gd; ox hinds, 1601 b to 2001 b, GJd. New Zealand pigs: First quality, 601 b to 1101 b (average 90), 6d; average 1111 b t0.1201b, 5Jd; others unchanged. Friday's closing priceo are as follow:— Cotton: July, 4.62 d per lb. Rubber: Para, 4|d; plantation snoked. 3d.

Jute: June-July, £l6 2s 6d. Hemp: None offering. Copra: July South Sea, £lO 15s per ton; Rabaul plantation, £ll 2a 6d per ton. Linseed oil, £l6. Turpentine, 475. WHEAT, FLOUR, ETC. LONDON, June 18. Wheat cargoes are steady, and parcels are quiet on an advance of 3d to 6d. Futures:—London: June, 19s; September, 19s 3d; December, 19s lOd. Liverpool: July, 4s lid; October, 4s 3id; December, 4s 6Jd. The spot trade is slow and generally easier. Flour is quiet. Australian (ex store), 18s 3d and 18s 9d. Oats, peas, and beans are slow. CHICAGO, June 18. Chicago wheat: June, 68J cents per bushel; July, 56-J cents; September, 56J cents; December, 59 £ cents. DAIRY PRODUCE LONDON. June 18. Butter.—Quiet. Danish, 118 s; choicest Baited New Zealand, 110 s and Ills; Australian, 106 s and 107 s; unsalted, about 4s premium. Cheese. —Quiet. New Zealand white, 53s and 545; coloured, 56s and 575; Australian white, 535; coloured, 555. Messrs A. S. Paterson and Co., Ltd., are in receipt of the following cable advice from their principals in London: — Butter.—Market slow, easier, owing to heavy arrivals Continental butter, 'and Irish buyers now boycotting Russian. Expect result improvement of colonial. Danish. 118 s; New Zealand, South Island, 109 s, 110 s; Australian, 104 s, 105 s. Cheese.—Market quiet; slightly lower. White, 545; coloured, 565, 575.

Messrs Dalgety and Co., Ltd., have received the following cablegram from London, dated June 18: — The market for butter is quiet, and the cheese market is slow. Quotations: — Danish butter, 116 s to 118 s; New Zealand finest butter, 109 s to Ills; Australian finest unsalted butter, 106 s to 109 s; Australian finest salted butter, 104 s to 1675; Australian C.A.Q. butter, 100 s to 103 s. Australian cheese, not quoted; New Zealand cheese, white, 53s to 545; New Zealand cheese, coloured, 56s to 575; Canadian cheese, white, 64s to 745; coloured, 64s to 745; Canadian cheese, c.i.f., 55s to 565. The National Mortgage and Agency Company of New Zealand, Ltd., has received the following cablegram from London:— Butter.—Market quiet. New Zealand finest, 110 s; New Zealand first grade, 109 s; New Zealand unsalted, 116 s; Danish, 118 s; Australian, 104 s to 106 e; Cheese.—Market srteady. New Zealand white, 545, 555; New Zealand coloured, 565, 575; Canadian, c.i.f., 555. ’ . The. New Zealand Loan and Mercantile Agency Company, Ltd., has received the following cablegram from its London house under date June 17: —Butter: New Zealand choicest salted, 110 s to Ills; market very slow. Cheese: No change; market is quiet. .. The South Island Dairy Association, Ltd., has received the following market report from the New Zealand Produce Association, Ltd., London:— Butter.—Quiet; 110 s to Ills; Danish, 118 s to 119 s. 'Cheese. —Quiet; white, 53s to 555; coloured, 56s to 58s. The South Island Dairy Association, Ltd., has received the following market report from the New Zealand Produce Association, Ltd., London:— Butter.—Slow; 108 s to 112 s; unsalted, 112 s to 116 s; Danish, 118 s to 120 s; Siberian; 100 s. Cheese. —Slow; white, 53s to 555; coloured, 56s to 575; Canadian both colours, 68s to 745.

AMERICAN MONEY MARKET NEW YORK, June 18. Call money rate of renewal, 11 per cent, all day. SYDNEY WOOL SALES SYDNEY, July 17. At the wool sales, 7757 bales were offered, 5205 being sold, while 3533 were disposed of privately. The market was unchanged. Chief competition came from the Japanese. The demand for inferior lines of merinos, crossbreds, and scoureds was poor. Greasy merino made 133 d. AUSTRALIAN MARKETS SYDNEY, June 18. Wheat: Ex trucks, Sydney, 2s 3d; country stations, Is Bd. Flour, £lO 10s. Pollard, £4. Bran, £3 10s. Potatoes: Tasmanian, £6 10s; Victorian, £4 10s. Onions: Victorian, £5 10s to £6. Oats: White, 2s 6d; Algerian, 2s 3d. Maize, 3s lOd. MELBOURNE, June 18. Wheat, 2s 6d. Flour, £6 15s. Bran, £3 15s. Pollard, £4 ss. Oats; 2s Id and 2s 2d. Barley.—English, 2s 7d and 2s 9d. Maize, 4s 3d and 4s 4d. NEW ZEALAND PERPETUAL FORESTS, LTD.

The eighth annual meeting of shareholders of New Zealand Perpetual Forests, Ltd.,’ was held at the registered office of the company, South British Insurance Building, Auckland, on June 10. Mr William Fraser, chairman of directors, presided before a good attendance of shareholders. In moving the adoption of the annual report and balance sheet, the chairman reviewed the progress or the company during the past year, explaining the difficulties caused by the adverse exchange, which had so far been satisfactorily overcome, and he expressed the hope that with the continued cooperation of his fellow directors the company will be able to meet all further difficulties as they arose. The chairman stated that, taking into consideration the

difficult times, the shareholders had good reason to be satisfied with the result of the year’s operations. He emphasised that the company was in a very sound position, and expressed the Hope that there would, before long,- be an improvement in the present adverse conditions. The report and balance sheet were adopted, and it- was agreed to pay a dividend at the rate of 8 per cent, for the year. The retiring directors, Messrs W. L. Davidson and Fred C. Dewar, C.A., were re-elected The retiring, auditors, Messrs Morris, Duncan, and Gyllies, were also re-elected. SOUTHERN CROSS GLASS The Southern Cross Glass Company of New Zeal and,’Ltd - .,• has closed its works, which will not - be "reopened until conditions improve.’ ' In April last an extraordinary general meeting of shareholders was held to discuss the question of winding up the company. It was then decided to refer the whole financial position and the future of the company to the directors, with full power to-act on behalf of shareholders. At the same time Messrs A. S. Malcolm, S. Ritchie, and E. P. H. Burbury were added to-the directorate. Mr L. L. Cordery stated a few days ago that the only way such an industry could be made to pay was by big orders. The trouble was that at the present time pickle makers and other large consumers were living hand to mouth, and large orders for stocks of bottles were not being placed. “ Everybody is in the same position.” he said, “ and there are no mass production orders.” Large stocks of bottles were, he said, held in Auckland, and the northern company was able to ‘supply present requirements. DOMINION PRODUCTION A decline of 6 per cent, in the value of production in New Zealand is shown by the estimate for 1929-30 compiled by the Government Statistician. The comparison is made with the record figure for 1928-29, but the latest estimate is also lower than that for 1927-28, and is 'almost identical with that for 1924-25. Previous estimates have been revised, with the effect of reducing all the earlier totals. One result is that 1922-23 (instead of 1929-21) is the first year credited with production exceeding £100,000.000. The latest estimation compares as follows with the revised figures for the preceding five years:—

Separate estimates are given for eight divisions of production. Those for the last two years compare as follow:— 1928-29. 1929-30. £ £ Agricultural .. 9,375.000 8,874,000 Pastoral .. .. 42,3’20,000 33,657,900 Dairying, poultry, bees .. .. 30,411,000 29,684.000 Mining .. .. 3,499.000 3,589.000 Fisheries .. .. 451,000 554,000 Forests .. .. 3.128,000 3.338,000 Factories .... 23,700,000 25,034.000 Builders, etc. .. 1’2,418,000 13.442,000 The outstanding feature is the decline of 20 per cent, in the value of pastoral products, while there were falls of 5 per cent, in agricultural products and of 2 per cent, in dairying, poultry, and bee production. The total for the three fanning groups fell from £82,000,000 to £72,200.000 The corresponding totals for 1926-27 and 1927-28 were £66,900,000 and £76,900,000. Estimates in these groups are based on export values, and, therefore, include value added to primary production between the farm and the port of shipment.

COTTON MILLIONS After allowing for depreciation and taxation, the net profits of J. and P. Coats, cotton thread manufacturers, for the past year amounted to £1,809,851. This compares with £3,179.000 for the previous year, and represents a decline of about 43 per cent. The ordinary* shareholders have received four quarterly dividends of 9d per share, making in all 15 per cent, for the year, but for the first time for many years are not to receive an additional bonus on this occasion. A year ago they received a bonus of 2J per cent., and in the year earlier one of 5 per cent. The balance to be carried forward is £361,630, against £1,094,000 last year. An interim dividend at the usual rate of 3? per cent, has been declared for the first quarter of 1931. SINGAPORE HUME PIPE A preliminary statement .of the accounts of Singapore Hume Pipe Company, Ltd., gave the profit for the year ended March 31 at £13,200. In the report now to hand it is shown that dividend of 10 per cent, and bonus of 5 per cent, account for £6000; provision for taxation is £2200. Against £5575 brought forward, there is carried forward £10,575. Capital remains at £40,000, and there is a. reserve of £lO,OOO, and for contingencies and taxation £9840. Creditors are owed £2776. Assets are valued at £77,260, of which cash items amount to £22,663. Machinery, plant, and buildings are valued at £16,927. Stocks are placed at £11,182, and a joint account with Hume Steel, Ltd., is £18,680.

KIRKCALDIE AND STAINS, LTD. WELLINGTON, June 19. At a private meeting of shareholders of Kirkcaldie and Stains, Ltd., last evening the shareholders were informed that the British and Allied Investment Corporation, Ltd., London, an English corporation, had made an offer for certain • shares in the company. It was explained to the shareholders that it was optional upon them individually to accept or refuse the offer for their respective holdings. It was further explained that the .Kirkcaldie family would still retain a substantial interest in the business ’and would'be associated with the management in the future conduct of the business.

It would have the assistance of influential English interests. It was announced to-night that the shareholders had approved of the London company’s offer. The transfer, will be made effective on July 1. COMPANIES REGISTERED The New Zealand Mercantile Gazette reports the registration of the following companies:— Dunedin Glass Manufacturing Company, Ltd. Registered as a private company, June 2, 1931. Capital: £llOO into 1100 shares of £1 each. Subscribers: Dunedin—J. Robb 75, J. M. Scott 75, F. G. Lane 75. M. S. Roberts 475, A. L. Campbell 50. J. Donald 75, H. E. England 25. L. F. Lane 25, W. Walkinshaw 50; Ashburton—J. P. M’Leod 25, L. J. Watt 25, R. H. James 25, W. R. Andrews 25, H. B. Hefford . 25. Objects: Manufacturers and importers of and dealers in glass, glassware, and crystal ware. Radio Sales and Exchange, Ltd. Registered’as a private company, June 8, 1931. Capital: £l5OO into 1500 shares of £1 each. Subscribers: A. E. E. Clarke 690, J. W. H. Clark 600, B. M. Thomson 300. Objects: Dealers in radio, radio telephony, and telegraphy, television, etc., and broadcasting station. TRADE IN GREAT BRITAIN AN ENCOURAGING VIEW. The following extracts from a report on trade conditions received this week by a Dunedin firm from a leading British textile manufacturer are of interest as showing that Great Britain, despite her many problems, is still the leading nation in finance and trade: — In conclusion, trade has been bad, and is still bad, but it has been bad before, and has also been good. Great Britain has her share of-bad trade, but is not alone in this respect, and is still far better off than most. Notwithstanding the position and the terrible expense caused by the war, Great Britain still pays her way, and bears her full share of the world’s burdens. . Notwithstanding the tariff walls which have been built up to keep out British goods, the fact remains that Great Britain still exports more than any other nation. . Notwithstanding Britain’s investments abroad, which have often meant a heavy loss to the British investor, Britain is still able not only to" finance her own affairs, but to lend money for development abroad, and last, but not least, British securities are still the finest securities in the world.

TOBACCO WAR ENDS PRICES RAISED IN MELBOURNE. As the result of efforts made by a newlyformed retail tobacco sellers’ association, the price cutting which for some months has been carried on by a section of the retail tobacconists of Melbourne and suburbs definitely ended on Monday. June 8 The price cutting had been conducted with unflagging determination for eight months, during which period cigarettes and tobacco had been sold practically at wholesale rates.- Naturally such a prolonged trade battle involved some serious business casualties. Many businesses were forced out of existence, and even firmly-established concerns had suffered severe losses. On several occasions efforts were made to settle the differences, but without success. Prices of tobacco, cigars, and cigarettes have now been restored to the levels ruling before the price-cutting activities developed. In all, 132 brands of tobacco, 53 brands of cigarettes, and 19 lines of cigars are affected by the decision. Cigarettes. which formerly sold at 5d per packet, are now being retailed at 6d, plugs of tobacco were increased from 3s 3d to 3s 6d, 2oz packets of tobacco from Is 8d to Is lOd, 2oz tins from Is 4d to Is 6d, and packets of tobacco from Is lid to 2s Id. DAIRY EXPORT TRADE Notwithstanding adverse market conditions, the dairy export trade of the Dominion is well maintained, with increasecd production year by .year. It is the premier export of the Dominion so far this year in the following order of values:—

Dairy products £6,403,691 Meat and by-products .. .. 4,162.657 Wool and skins .. .... ~ .. 3.248,983 TALLOW AND CASINGS WELLINGTON, June 17. The Meat Producers’ Board announces a further reduction in the freight rate on tallow, the new rate as from July ! being 67s 6d a ton. A reduction has also been made in the shipping freight rate on casings to the United Kingdom from 100 s to 90s a ton, as from July 1. All tbe rates named are plus the usual primage CONSOLIDATED BRICK AND PIPE COMPANY ■ AUCKLAND, June 17. The annual report of the directors of the Consolidated Brick and Pipe Company for the year ended May 31 states: The company’s investments have yielded a net profit of £28,528. To this is added the balance brought forward from last year, £1845. After deducting the interim dividend oi 3 per cent, paid in November, amounting to £16,721, this left available for. distribution £13.652. From this the directors recommend payment of a final dividend of 2 per cent., making 5 per cent, for the year, which will abso.b £11,162 - . Honararia to directors accounts for £l5O, leaving £2340 to be carried forward. The report states that the assets of the trading companies owned by the company are in first-class order; £12,350 having been spent on repairs for the year ended March 31 and £22,206 has been provided for and written off as depreciation.

GOLDSBROUGH, MORT, AND CO. Net profits earned by Goldsbrough, Mort, and Co., Ltd., in the year ended March 31 amounted to £117,476, compared with a profit of £209,641 in the previous year. The profit was struck after pro viding for payment of debenture interest and taxes and for depreciation. The gross profit earned was £630,714, compared with £795,751 earned in 1930. With a credit balance of £llO,lOl brought m to the accounts, £227,577 was available I for distribution, and the directors recomi mended payment of a dividend of Is i 1 share, requiring £120,000. After trans ferring £2500 to the provident fund, £105,077 remained to be carried forward. In their report the directors state that the business of the company has been well maintained, but profits have suffered because of the low prices ruling for pastoral products. The report briefly’ traces the course of the wool market for the season. The total number of bales of wool handled by the company for the season was £339,730. compared with 234.903 bales in the previous season. The amount of wool handled constituted a record fet the company. On March 31 14,244 bales were held in store unsold, compared with 76.154 held at balancing date last year The carry-over at all Australian selling centres on March 31 was 182.680 bales, compared with 703.493 bales held at the corresponding date last year. DAIRY EXPORTS TEN MONTHS’ BUSINESS. The Dairy Board reports exports for the 10 months ended May 31 as follows: — BUTTER. Ten mths., Ten mths.. 1930-31. 1929 30 _ , Tons. Toes London 67,435 56.242 West Coast U.K. .. 9,501 5,213 Vancouver .. .. 1,414 4,608 Halifax and Montreal 75 14,838 Honolulu ... .. .. 308 436 Panama 386 14(1 Other, countries .. 449 693 Total tons .. .. .79,568 82,176 Decrease for current season, 2608 tons. CHEESE. 1930-31. 1929-30 Tons. Tons. London 64.090 63.202 West Coast U.K. .. 12,683 8,886 Australia 3 16 Vancouver .... 10 146 Other countries .. 48 71 Total tons .. .. 76,834 72,411 Increase for current season, 4423 tons. SCHOOL COMMITTEES ANNUAL MEETING OF ASSOCIATION The annual meeting of the Schoo] Committees’ Association of Otago was held on Thursday evening. The president (Mr H. Begg) occupied the chair. The chairman, in moving the adoption of the annual report, said that a number of country schools had become members, but a very large number had yet to join. The meetings of the association could be much more largely attended. The chairman expressed the thanks of the association to the Library Committee of the City Council for its interest in school libraries. The Minister of Education (Mr H. Atmore), he added, had promised last November to deliver an address in Dunedin on the education report. The address was to have been given on his next visit to Dunedin, but it seemed unlikely now that it would eventuate. Mr L. D. Ritchie seconded the motion. He urged that the annual meeting should be held during the winter show week. The association was inclined to dwell too much on city interests, and the difficulties experienced by country committees were not generally realised. He suggested that the next annual meeting should be held during show week, and that previous to the meeting all committees in Otago, regardless of whether they were members, should be invited to send delegates. The motion was carried. The balance sheet was also adopted. OFFICE-BEARERS. The election of office-bearers resulted as follows:—President, Mr L. Sanderson (St. Leonards); vice-president. Mr M. Haig (Mornington); secretary and treasurer. Mr R. S. Vercoe (George Street); executive—Messrs W. Ripley (High Street) W. H. Steele (life member), J. C. H. Somerville (Anderson’s Bay), R. D. Polson (Sawyers’ Bay), and H. H. Johnson (Musselburgh ). CORRESPONDENCE. A letter was received from the Education Department stating that the associa tion’s request for the appointment of an assistant at Oturehua had been referred to the Minister, who had agreed to allow the assistant to remain for a few weeks. —A further letter was received from the Oturehua Committee stating that the Otago Education Board had decided to appoint an assistant permanently.—Received.

The Tainui School Committee applied for affiliation.—Granted. A letter was received from the Momona Committee asking for the opinion of the association on the establishment of a central school for the district. This, it was stated, would enable pupils to receive a better education.—lt was decided to inform the committee that the association considered that the consolidation of country schools was desirable. The secretary of the Shag Point Committee wrote stating that the school was entitled to an assistant, but no appointment had been made. The assistance of the association was requested.—The secretary stated that he had made inquiries and had found that the matter was purely one of finance.—The secretary was asked to explain the position to the committee. A letter was received ‘ from the Romahapa Committee pointing out that the school could not obtain free dental treatment, although it had subscribed towards it.—lt was decided to write to the committee stating that the association would inquire into the matter and give what assistance it could. It was also decided to write to the secretary of the dental clinic, Balclutha, asking for a report.

GENERAL.

Mr J. Wallace (chairman of the Otago .Education Board) made an appeal for the support of committees in the board’s ettorts to supply children who needed it T?* - " SO «P- H wa/3 decided to contribute war ds the cost, if necessary. the secretary was voted £5 for hisservices.

Mr J. C. H. Somerville, who has beeneZ i° f 1 •? aSBOci ation for 15 years,, was elected a life member. Replying to an expression of the committees appreciation of the assistance it- ., w C n from the Education Board,, Mr Wallace said that the board and com’mittees had to be prepared for a “veryrocky time. At present the board received £7l o a month for maintenance, but. there was a possibility of that being stopped m a very short time. There: were now no subsidies. The loss of thesubsidies on coal and water supply was; something that was going to hit committees very hard.

REMITS. H-P 1 ® ( oll ?7iV g r remits which the execu*’2®, for consideration at the: annual meeting of the South Islam] Federation of School Committees’ Associations were approved:— Apartment be asked to deal! sympathetically in the dismissal of assistant teachers from schools bordering on: a lower grade. That the Otago Association reiteratea; its opinion that a further attempt should! be made to unite all school committees; in new Zealand and further endeavourbe made to appoint an organiser to makethis possible. brom Owaka District High School Committee—That in all cases where their* husbands are in a position to support, them no married women be appointed to> teaching positions. That the education vote be made adequate to provide proper maintenance of the primary schools. That the Department of Education be asked:—That before any alterations are made to the Act such alterations to be circulated amongst school committee associations.. . That this association asks the federation to resist any attempt at further centralisation as indicated in the Atmore report, as such action will destroy local interest and will not tend to efficiency oreconomy. That conference be asked to obtain information and make a statement of the position regarding accidents to children in school hours. The following remits from the South Canterbury Association were also approved:— That the Education Act be amended in. respect to the procedure in connection with the appointment of teachers:— (a) That consideration be given to local requirements whether the appointee shall be male or female irrespective of tha grading of applicants; (b) that where two or more applicants are within a radius of five (5) marks on grading list, other conditions being equal and suitable, education boards shall have power to submit such names to the committees for concurrence or recommendation as to tha most suitable. That the federation again emphasise the inadequacy of the incidental allowance now made to committees of tha primary schools and request the honourable Minister to submit the question of providing a just and adequate allowance to Parliament at the earliest possible opportunity. That federation press for further teaching of swimming and life saving in primary schools, and that where facilities are available such be made compulsory subjects. That federation request that teaching of sowing in primary schools be “ hand sewing.” That federation request that the provision of the syllabus covering “ agricultural instruction and teaching of grain measurements ” be made mandatory instead of optional. It is known that pupils leave the primary schools not knowing what constitutes a bushel of various graina and seeds.

The meeting expressed itself as opposed to the following remits: — That the tenure of the school committee’s life be extended to two years with a proportion retiring annually. That federation request the department to arrange that result of examinations (scholarship and particularly matriculation or entrance) be made available to competitors at an earlier date. That in view of the economic position that the present system of all written work being done on paper, and the excessive use of stationery makes education almost a tax on many parents, that federation should be asked to approach the Government with a request that the department should supply all writing material for use in primary schools. That home-work shall not be imposed on any child under the age of 11 years.

Ton. Copper, spot' . £33 11 IQiA fan £o jg Copper, forward ... .. 34 6 3 Fan 1 0 0 Electrolytic, spot .. .. 37 0 0 Fall 1 0 ® Electrolytic, forward .. 38 0 0 Fall 10 9 Wire bars .. .. •• 39 0 0 No change. Lead, spot . • •. Lead, forward .. •• 11 10 0 No Change Spelter, spot .. .. 11 1 3 Rise 0 39 Spelter, forward .. .. 11 11 3 Rise 0 3 9 Tin. spot .. .. .. 101 11 3 FaV 0 17 ff Tin. forward .. .. .. 103 2 B Fall 0 18 9 Ox Sllrer. fine .. .. 12%d Rise 1-16d Silver, standard .. .. I3%d Rise %d

1924-25 118,117.000 1925-26 111,707,000 1926-27 112,095,000 1927-28 119,892,000 1928-29 .. .... 125,304.000 1929-30 118,172,000