COMMERCIAL ITEMS.

Dominion, Volume 3, Issue 666, 17 November 1909, Page 10

COMMERCIAL ITEMS.

INVESTMENT- SHARES. '•> Sales of Ban]; -of New Zealand at £9 155.,' and Leyland-O'Bricr,: Timber at £1 3b. 6d. were reported • yesterdiiy. National. Bank, buyers £6; Bank of Now Zealand, buyers £9 155., sellers £10 25.; National Mortgage, buyers £2 18s„ sellers £3; Wellington Investment, buyers lis., sellers lis. 6d.; Napier Gas, £5 -paid, sellers' £12 7s. 6d.; Palmeraton North Gas, Belters £8; Wellington Gas, £6 15s. paid, sellers £14' ss; Christ--church Meat, £5. paid, buvers ■£4 ,18s.; Gear Meat, £4 paid, buyers £10 55.; £1 paid, buyers £2 12a. 6d.; Meat Export, third issue, buyers.. £2 155.; Now Zealand Shipping, buyers £7; Union Steam, sellers £1 155.-. 6d.;. .Wellington Woollen, buyers £3 2s. 6d.; Hikurangi Coal, buyers £1; Westport 1 Coal, buyeis £6.25.,-sel-lers £6 45.; Westport-Stockton Coal, buyers 6s. 6d., sellers; 7s. 3d.; Wellington Opera House, sellers £7 175.. 6d. ■

N AUSTRALIAN ALLIANCE ASSURANCE. " With reference to the-Australian Alliance Assurance Company's affairs, it is officially stated that the price'per share arrived at in consequonce of the valuation and - due adjustment of accounts, of August 31, 1909; will amount to £2 Is. lid. per share. At the meeting of shareholders, held in Melbourne a few days ago, the chairman in dealing with the affairs of tho company stated that during the year the operations . of the company had. resulted in a heavy loss. Separating the depreciation of the assets from other items they had: gone'back £15,655, to which had to'be added the dividend-paid, in -March last amounting to £2500; ; and. provision for retiring allowances ; to subordinate officers who had been for many years • in. the service of the company; these would amount to £531. In fulfilment of the agreement with tho London and Lancashire Company,-it was necessary to adjust-the accounts' as-closely as possible to August 31, and to that end to utilise the latest information.- The result had been to burden the past , year's .accounts with charges such as discounts, commissions, and losses, advices of which - had- not "been, .usually received till a considerable'time aftor. the'accounts were made up. " The provision .for: losses : had also necessarily been fuller, and . amounted to v £12,392. Should this, prove to be excessive,, any surplus would bo added toby the London and Lancashire .Company to'vthe small', sum-which was held over for future-division among .the- shareholders. ■ The sum of; £59,803, - which, , according to' the decision of the'valuators,', was required for ..depreciation of the company's vassets. had comb as a great shock to the ■ directors. The balance-sheet circulated was-based.'oi the valuation of the valuators,- and 'showed capital £125,000, and, goodwill - £10,093,. IeSB ; debtor bal-" ance to profit, and loss account ■ £32,093, leaving ,a. balance of £103,000, ■ which!'.'.divided 'among 50,000 shares, represented as closely 'as could be ectiifaated £2. Is. lid. per share. The odd Is. lid. would be withheld for the. present for the payment of. outstanding losses, iff required; so the sum at present;receivable by-.the shareholders would be £2' : 'a share.- '-''j':" --

: THE ARGENTINE MEAT TRADE. ; Some particulars!of the new shipping arrangements for .the meat trade "are published in ."Fairplay." In order that. a. weekly service for the cohveyance of chilled, meat from the Pldte to London' may--be maintained, it has been-decided to build nine high-class steaspecially, fitted up'and adapted for tho conveyance of chilled meat, • and 'having', an ocean-going speed-, of- ; ls'. knots; -It 'Is intended that on each Monday- morning'U''Btcanierl shall be in her: discharging. berth.'in.London;'"in'.addition to tho'regular, service to . Liverpool and Manchester. Some 'of-the parties .interested jvill soon land in the Argentina" Jtepublic for <the development of the. boef. .trade.'•i' None of (the ordinary ■ share capital -is- to be offered foS.the public; the amount, having,-beenatrang'edVfor pyivately .by' a : number of existing •flrms.i- '.ff' v :v- ; .,, .j OtlE IMPORTS FROM. BRITAIN. ; ''The following is the .'return, of the principjJ lines of goods of British .manufacture eiported to New Zealand ■ during the niohth' of September, 1909, also ,for the nine months ended September 30, '1909, with the figures for ISOB shown for the purposes of comparison. The table is compiled from -the Board of Trade Returns:— ; Month.' ,-. iKine months ending.Sept.-30. : .ending Sept. 30i 1908.. 1909. "1908. . 1909. £ : ■' •£ •£ , Beer and ale 34E81 "■ 3,467^,!.' 31^04' 27,183 < Spirits'' 24;435 " 23,332 '182,650 160,039 ' Iron and steel and, ' .manufacr • tures thereof 68,709 85,774* 759,099 694,058 Oopper,.wrought • •.' .. and manufactured, 2,345. 1,639 34,164 20.509 Cutlery , "3,661: 3,551' -~' 22,826 Hardware ......... 9,893 . . 7,718 , '103,346 72,341 Cotton,. > piece goods of all ■ ' kinds' 28,556J- 49,986 ,; 500,025.. :■ 506,459t Woollen 1 and • ■' ~ ; worsted manu- ; ■ ■■ !• -?-• f •' facturea .• 9,302t '20,236* 305,082 ; : 266.836 'Haberdashery ' -y~ • and : millinery 4,307 ' 4,815* 64,332 49,533 Jute manufactures 2,833+ 3,670*-' 27,657 27,724t Linen,, ' piece .. -~ goods of ■ all ' ; .kinds 4,636t 8,062*" 72,383 '; 66,260 Apparel. ............17,838 26,266*. 377,529 '^70,365 Bojots. and: shoesV 17,3781 18,778* . '142,182 135,131 Saddlery and■ " '■' ... ■ harness 2,675! 4,953*' 29,29.5 26,010 Earthenware ■ and. china. ...... -7,217; .9,269* 81,458 63,824 . Writing and print-' ing paper ...... 9,784 9,945* '. 94,111' 85,130 < Cement l .'. ' 2,165; y 2,233® , '~32,425 , 20,254 Stationery, other ; ,i'\ than paper 9,983J .. 9,905*: . 51,385 . - 43,628 . •Increase on. same mopth . last. 'year. - •{lncrease on nine months last ■ year. ■ ITliis months, figures,,greater than. same, month 19C7 and 1908. j'! J Customs revenue collected at:-Wellington yesterday am'ounted' to £2700 os. - Id'. i' ": , ' ... WHEAT AND' FLOUR. (By Telegraph—Press Association—Copyright) Londoni November 15. '•' The total-quantity of wheat and Sour afloat' for the United Kingdom is 1,720,000 quarters, and for''the Continent 1,705,000. Atlantic ship-, mentsi'32o,ooo-quarters; Pacific, 55,000. . ' ■ METAL MARKETS. . '(By Telegraph—Press Association.—Copyright.) . . (Rec. Novemberj 16, 9.40 p.m.) 1 ' . Condon, November 16. -'Copper.—On tho spot,'; .£59 2s. 6d.; three months, £60 55.; electrolytic, £61 per ton.'' ! Tin.—On the spot, £139 10s.; three. months,' £141.125. 6cL per ton. Lead, £13 2s. 6d. per. ton.. SILVER. ■ ; , -i' ■ London, November 15. ; Bar . silver is quoted at ;23}d.v per' ounce standard. . ' " LONDON WOOL SALES. (Bee. November. 16, 9.40 p.m.):, (By Tolegraph—Press Association—Copyright.) . .< . . Londont November 16. i For. the forthcoming wool, sales 152,000 bales nave ariived, of which 57,500 will be forwarded direct to manufacturers, leaving 98,500 available. . - (Rec. November 17, 1.20 a.m.) ■> ' . ' ! " " , Sydnoy, November 16. Tho wool sales have been postponed until the- labour troubles arc ended.

OHRISTOHUROH WOOL SALES. • llijf Tolccraph,—l'rcaa Association.) Chrlstchurch, November 16. At the .Olrristchurch wool sales on i'liursdav 7127 bales will bo offered, against 4361;] bales at tho corresponding . sale last year. ;;

TJIK AUCKLAND WOOI. SALKij. (By Telegraph.—Special CorrespoadenU - Auckland, November 16. .; The, opening wool sales of the .1909-10 seaßon at Auckland - on Wednesday, November 24, give promise of .extensive business, 'and indications point to good values. Owing to the wet weather of.afow .weeks ago, .the'wool has been coming in rather slowly, and it does not seem possiblo that a quantity euual. to tho record . of last year's opening sales can be got forward before the sale, but the past week lias witnessed satisfactory deliveries, and it is regarded as certain that/tho aggregate will be '.in-' excess of tho quantitv catalogued last year. A fullbench of. Amorican,- English, and Continental: buyers is expected. , " ' ■ / The wooj coming -in in sound, well-grown, arid Jghtin grease—the last-named, fact being attributable to the wot Eeaf.on. As far aa canboascortalnm!/ Uw if h, . aenacal improvement .upon

last year's packing, and, in this connection, the complaints made by buyers last year, coupled with tho classes for instruction in wool-sorting, are considered to have inspired growers with a desire to;improvo' their- methods.".- ■' -

HOSOIEL WOOLLEN FACTORY' COMPANY. ißy Toleerapb.—Press-Association.!-^ Dunedln, November 16. The . annual 1 meeting, of tho Mosglel Woollen Factory Company, was held to-day. The Hon. T. Fergus, who presided, in mooring the adoption of the annual report, said' the balancosheet disclosed a. distinct improyement on the past year, and the directors thought the prospects for the coming year were better. Though the directors were-likely to ,'be. faced ' with a rise in the price of wool, they hoped to be able to obtain prices for goods that would leave a margin of profit. The report and balancesheet were adopted, carrying a - dividend of 5J por cent. Mr. Watson Shennan was re-elected as director.

NATIONAL INSURANCE COMPANY. . (By Telegraph—Press- Association.) Dunodin, NoVember 36. ; The annual meeting of the National Insurance Company was held to-day. In moving the adoption of the report, Mr. J. M. Ritchie (chairman of directors) said tho balance-aheet was of a fairly favourable character. Though the company had come out fairly well, business in the Dominion was bad, and there was, reason to believe that'money was lost all over last year. The Government taxation was still going np, and added to the competition of the State Fire Department was coming to be a heavy burden on the profits. All the company's known losses had been provided for, including the Maori and Waratah. ' The company's assets remained much the same aa last year, and all investments were sound. Interest and rents had increased by £945 and. premiums bv- about ,£6OOO. this ' be.ins; partly due to -the -accident department, which the directors expected to have in operation at all.' points during the coming year. The underwriting profits for the year .'amounted to .about £13,000. The motion was carried. Messrs. A. Burt and J. Maloney wore re-elected directors..

■ LONDON WOOL SALES. Messrs. Dalgety and Company, Limited, report; having received the following cable message from their London house,. under date of November 15:—"Wool: The list of arrivals is closed, and all. your wools havo arrived in time. The new arri.vals amounted to 152,000 bales, of which quantity 57,000 bales have been forwarded (direct to manufacturers at Home' and" abroad, leaving (with- 4CCO bales old stocks) 99,000 bales Available for the November sales."

PROPERTY. SALES. ' Messrs. J. H. Bethune- and. Company report further sales as under in connection with the Levin estate- property in Tinak'ori' and Grant Roads, submitted by them at auction on Wednesday ■ lastSection No. 3, having frontages of <oft.' each to Grant Road and 'Burncll Avenue, by a depth.of 141 ft. 9in„ ,£BOO., Section No. 10, having a frontage of 45ft. 9in.' to Burhell Avenue, by a depth of 85ft. 9in., £549. Sec-' "tion No. 15, having-a frontage of. 44ft. to Tinaiori Road, by a depth of 85ft;* 9in., £742. Section No. 16, having a frontage of 44ft. -sin. to' Tinakori Road, by a depth of, 85ft. 9in., £763. The firm report a good demand for the unsold sections, and expect to dispose of several others during the week. Section 4, which was sold at the auction sale,; has since changed hands at an advanced price., , ■ . ; " , . , i