COMMERCIAL ITEMS.

Dominion, Volume 3, Issue 708, 6 January 1910, Page 8

COMMERCIAL ITEMS.

.NEW ZEALAND L'OAN . .'-.'. OANTILE. .

The .balance-shoot'of the New Zealand Loan and Mercantile Agency Company. Ltd., for the year ended Juno 3D, 1909, shows that gross profits of £352,4*16 wore earned, which, with £195 brought forward, gave a sum of £352,641. Administration charges, general expenses .and taxes took £174,699, leaving £177,942 to be carried to the credit of tho appropriation account Interest took £116,212. and the directors added £55,000 to the reserve fund, making it 3 total £305,000. ,-Out of. the balance of £6730, a dividend, at the rate of .5 per cent., absorbing £6370. is paid, and £360 is carried forward; It is pointed out that gross profits have been augmented by the satisfactory closing of sundry old accounts.. The net•'.working -profit was £61,535,...0r £20,043 more than in tho preceding twelve months. The principal items of tho bal-ance-sheet for the past three years are given below:— .-■•.-.- ~'.".■■. . ■ 1907. ' 1908. 1909. -..".- -■■' June3o. June3o. June3o.- .- .' ; - ■■■■. .-:■ ■■■' ," :■ £ -.• £. ■ £ Trading "profits ... 180.416 157,704. 177,747 Available .:_...... 180,774 157,835 177.942 Debenture interest 116,212 ; . 116,212 116,212 Written off ........;'■ 9,956 i—. ~. - ■ To reserves "".:.:':.../ ,58,000'.. ' 35.C00. .55,000 Dividend '......:.:... J 6,429 6,429 • • 6,370 Forward 133 195 360 Bills-payable '...... 210,409 127,086 .72,349 Sundry creditors... .585,170 799,868 : 734,220 Interest accrued... 42,210 .42,220 ' 42,220 Reserve funds 315,000 '400,000 455.000 "Cash ;......: 424,334 209,690 406,219 Advances, etc. 2,566,169 3,160,457 . 2,755,923 Investments ......... 293,269 100,607 217,951 Premises '■'. '. 3)5,656 337,112 v>370.442 N.Z. Loan Associa- ■•'■■'■ ''■-' ■''- .tion 1 ............ .;' 552.658 552,658 1552.653

The oapital is £135,302,. and debentures to the extent of £3,296,342 have, been issued, of which £387,554 are held by the company. Of the.item sundry creditors, £734,220. the deposits of the New-Zealand Land Association represent £451,965,.- the .whole of tho shares thereof beine held by, tho Loan and .Mercantile' Agency Co. ; The : decrease in advances is accompanied by a corresponding .expansion in tha cash and investments. The tradingV,profit ;;of ■ ; the New. Zealand Land Association , for " the year ended March 31 was £24,622, of which interest on debentures absorbed £14.268,. leaving net profit' £10,355. This sum ; . increases the ■amount at-credit of, profit and , loss to ; £21,560, from . which, the' usual. dividend of 5 per cent., free, of income tax, is declared, and the balance '0f,£11,762 is' carried.forward. :■■ v ■.;" ;■; . '..' ■ ~ ' : ''■ '■'

,:■■,/'■'.. IMPORT JIARICETS; . .. - "Trade keeps fair, but the holiday influence is still apparent. Quotations-are nominally unchanged on the week. ■ /■ ./Arrowroot.—St. Vincent, , ,sd. per. lb. ' i ■ Candles.—The New. Zealand Oandle Com- : pany'a quotations i,stand '■ as'; follow:—Premier Etearine and five:' medal, British sperm,' French sperm,-universal wax, ,Ex-, colsior paraffin, 53d.; Apollo sperm- and Yenus-paraffin, 6d.;\Venns. coloured Outecl, 6id.; piano, '■■ bedroom, and carriage sortsin 'cardboard - boxes, ;7id., less the usual trade ■ discountn. . Price's London sperm,l 16bz.,:61d., 14oz. 6d.; Burma, 160z., 6Jd. .■ ■' .. Cornflour.—Steady business passing. B. •and P., 5Jd. ..to sid.; Johnson's, ?Jd.; ;Brown's,-3d.; Chicago, 23d'.; yßuffalo, 2*d., .1 Cocoa—A steady hand-to-mouth business is.doing., Tari.Houten's', l's, 3s. 2d.; i's. 3s. i 3d.'; J's, 3s. 4d.-per lb.; Bensdprp's, l's, 2s. i-10d.; .i's. /23." lid.; ■•J's.iis.; -Fry's, Is. ,41d.: Bahia, ,2s.' 10d.v ; .-"••!' .-■- :,•■"•-■ ',"':>■.; ■ ■-' ,'./ Condensed Milk.—Highlander, 65.; Cow.slip; Aβ.. 6d.;.Swiss.{Milkmaid. 6a..6d. to: 6s. 'Id. , ..per dozen..-, ■ ; Canned. : Meats.—Sheep tongues, 10s. 6d. to Us.'.for I'b; ox tongues, 2J's, 31s. Ito ,345.;' 3's, 345. to. 365. per, dofeen; Gear's as'sorted, potted, 4s. 6d.; St. , George's, 65.; Carbonate 'Of Soda, 9s: 6d. to 10s; " ■'•• ■ Cream of- Tartar. 9d.'.-to Kd. ;,; .','-" . '

".Canned Fish.—Herring in tomato sauce, l's. 7s. to-7s. ,6d.; i'a. 4s. 6d:-to, ss.j kinpered. herrings, l's, 75.. 6d. to ,7s. 9d.;' Vs, ■4s. 6d. to 53.; fresh, herrincs, 'l's/ 6s. to 6s. 6d:j lobster, 0 and D, 51b. tins, Us. 6d. to -155.; salmou, salad, medium reels, lib. tails. ;8s; -,6d. to ,9aii lib. . flats, '95., to -95.-''6 d.: Bilver, Jlb.-.-Oats, 55.; Golden Link, Sockeye, lit).-tails, 10s. 6d.; lib. fats, Us.; ■Southern Cross, 6d.; Herringlets in .oil, Senator-brand, Cs. to Bs.;6d.j.,in to.mato: sauce, Bs. : to Bs. 6d.; sardines, Skip--per. 31b. tins,/ss. to ss. 6d.; i's, 9s. 9d. to 10a.; "King Edward," 9d. to 55.: Jls, 8?.6d.; ling, i Smethursf brand, is -niakine BSs.-to 66a/'per cwt.y :\. ... ~\■ . : O'he French 'sardino/fishery; ■ -as a whole, according to the "Produce Markets' Review," .has'been-distinctly .bettor than in recent. years, and encourages the hope that there Say now be a progressive improvement, and. that 'the\ tra'do 'may'. 'resaln, fomething.of its former importance.- The favourite-sized fish -for the 18oz. tin; viz.. 20/22 has been extremely-scarce, but otherwise the fish have teen, on the whole, well assorted; large fish'prevailing in .the first two: months'Of the season, with a preponderance of small 'fish subsequently. ■The cost of pacMne has worked out unduly high, owing to the extreme prices of choice olive.oil and the high average cost of suitable, fish. - '-'■■' ... ■ ■

: Canned Pruits.—The •' demand is steady, and the quotations are unchanged at : Bs. 6d. to- 12s. 6d. - : ','.■■ - ■-.■■•

■': The 1 : London "Produce Markets' Review" of November. 13,. in referring .to the advance in Singapore tinned' pineapples,' 1 .states that it is , reported .that! there are now ; only' four canneries: working instead,of about twenty, a condition brought about by the exceedingly poor return for some considerable time, and.it is not surprising that.cannere -refuse\to continue paoking at a loss. The strange , 'thing.'ie that quotations remained, bo/low..for; such/ a long time,. for 'in/ many/:cases tion of pines ha 3 been discontinued: and: rubber substituted, a change which should,' certainly pay the producer. This will-re-duce the , early crop by 40 to 50' per cent. . Dried are nominal. Currants; finest; provincials. 3d.;' Amalias. 3d. per lb.; lib. cartons, 3s'. 6d. .per dozen j sultanas, selected, 3}d., ,choicei 4d:, golden (in bulk), 4d., lib.'cartons 4s. 6d; per dozen; dates,.in bull:, , ' 2d., in.cartons, 3s_. ,6d. per dozen; figs, inatural, in bags,- 3d,;, seeded; raisins, fancy/lib: packages;.-•• 4s.'; -r choice.: 3s. '6d. per, dozen; 'muscatels,- Malaga, 1.0 d- . Jb.;' prunes,.;.3d.. to ■ 3id. - . ■• •

According ,to ■ a recent. issue of the Lon-, don "Grocer,".the;present dried fruit sea*, son; , from a consumer's point of-view,:is' a cheap one,- as,-'notwith9tahdinB r ßmailer crops in producing /centres,', the i prevail-' , ing conditicyi s i are .prices" to 'rule on the average-at'-a/lowor leyel. than" in .recent years.■■ Prices of currants are about on .the same, basis'-as last year, notwithstanding .that ,the; crop sis estimated. to : , be about'. 30,000!..tqns smaller. -The yield of ■Valencia raisins.is about 4000 to'soCo,tbns less' than ih':the'previous'iye'ar,- yet prices' are/ about • 2s.' to , Ss.* cheaper, than , 'last' year.' The ,crop-of'sultana raisica shows a- deficiency-,'of-5000, to'-6000; tons..compared-' with the previous/.season*? but,* despite this, prices are fully Id. per,lb;;cheaper, and sultanas offer the' best .value,.obtainable for many years.in.-the,:opening months of the season.'- The presehfpricesof sultanas are some shillings/below .the /cost of) pro- , diiction, which"'circumatanco , ' is owing to' the strained, monetary.:position , in.6mynia' as the outcome.; of'the revolution -in- , Tui--key last year. -The -financial' Bituationin .Smyrna is , very/ bad, the. country '.passing through a period oi depres?ion,' and,growers have had 7 to sell their produco in order to obtain money.,' Through these, adverseconditions thew public'this season* , are. enabled to buy sultanas , on' unusually -favourable terms. "Pigs' form the' exception in regard to; prices of-dried fruits,' being dearer thaniusual, owing to •■ the small, yield of the, , past ?two 'seasons;-' Good genuine naturals'in bags can be-retailed-at 4d. per/1b.,. good/boxes , at-!5d.. to 6d,,'' and ilneet pulled .from 9d/to Is.-per ■ boi.: Evaporated, Fruits.—Apricots, ,7Jd.' to .Bd.; peaohes, 7d.; pears.' 8dl; apples, 8d.:,. ' ■■■ ; .Ginger, preserved^-7id./per lb. ■ ■'....• Infants , ' -9s> 9d.';' 'Allan' and , Hanbury'e.Nos. 1 ;aud 2, : 17s.j Ho. 3 ■ 10s. 6d.; Benger's,. 175.; , -Robinson's , patent' 'groats and .barley, 7s.'-6d:- - Neave's milk food, 13s. 6cL; Nestle's milk food, 17s. 6d ■ Jam.—New Zealand l's, 3s. 6d. to 4s.'6d Knife Polish.—Nixey's, 4s. 6d.; Olicy's, sa.

Maizena.—Dnryea's, Sid. . Mustard.—Coleman's D.S.F., J's, Iβ. sd. to Is: 6d.; .i's, Is. 3*d. to Is. 4d.j Durham 71b.' tins, 7d. to 7id. '.■■•'• '.Matches.—Plaids,- 35."-. Bd. to 3s. 9d. a 'gross; penny .slides.: Bs.""9d."to|'9s:. 6dy'" aafoUes, small; foreign,' (3a. 'to 3s. '6d.' Bryant and -.May's, small 4a. 6d., large 7s. 6d. .■■ '■ ' . ' . ' ' ' ■ .•■•■ Nutmegs, Is. to Is. 2d. per: lb. Peel—Now Zealand lemon. 4Jd. to■ 5d.: orange, 6d.. to SJd.; imported lemon, 7's, 5Jd.; orange, 5Jd.; citron. Is. to Is. 2d. iPlckles.—Morton's hexagon 10s; 6d., round 12s. sd: per dozen; Captain White's, 23b. 6d.; H.P.. .{-pints, 125.'6 d.; pints. 225. 6d.; pure pickles, 9s. 6d. to 10s.

Bice.-No. 1, 15s. 6d.; No. 2. Ms. 6d,; special Japan,'l6s. per owt. ■'-..■. Salt.—Fine, 71b. boKs,. ss. 6d. to. 6s. 6d. por cwt.; bags, sa. 6d. to 4s:; coarse, in cwt. bags,- 3s. to 3s. 6d. ,nor civt. ■ ■- ■ ■ Saucos.—L and P.. J-pints. 14s. to 14s 6d.'; pints,. 255. to 255. 6d.j Dolbrook's, 4pints, 7s. 6d.; pints. 10g. 6d; to 10s. 9i1. : Garton's, 5-pints, 7s. 6d. ;■ pints, 10s. to 10s. 6d.: Eagle brand (New Zealand), 1-pints, 2s. 9d to 3s,'; pints, ss. 6d. to 6s. Starch.—Ooleman's, lib. boxes, 6jd. to 5Jd. j 51b. packots, sd. to 6Jd."; Now Zealand, lib. boxes, 38s. to 395. per cwt.; slb. packets, 375. to 38s. por owt. <. ■ Stovo Polish.—Nkey's, 2d. 6d.; Eeckitt's, ,! 3s. por dozen. ■ . Sugar.-IA and No. 1,,56'5, £17 10s.; No, 2, £17; No. .3, £16 per'ton. • .

- 'Tapioca—Pearl and flake, 15s. to 15s. 6d. seed, 145., to Us. 6d. . ■ - . ..

Yinoßar';—French, 6s. 6d. to 7s. 6d,; Ohaoi' pion, Ba. 9d.,-to 95.;-. Colonial,. 4a..t0.,45, 6d,

Customs revenue collected at Wellington yesterday amounted to' £2369 19s. 3d. ■

! . OHEISTOHUROH .PEODUCE. . (By Tcleuraph.—Press Association.) ■ '.-■ ■/' ' Christchurch, January 5. Duians the last two weeks, owing to the Chrisbnas and New Year holidays, practically no business passed in grain. Nearly allthoyestablishments. were, closed during the greater part of:thc time; . Business was only resumed yesterday, and so far little has been done in the way of sales. Offerings from farmers continue very restricted, and, cenorally speakine, tha prices offered by merchants are too low to tempt holders. For wheat, mor-chants'-are willing to give from 4s. to 4s. Id. on tracks at country stations, but these prices aro not sufficiently temptine to induce holders to sell. ■ It is now recognised that the amount still -in the hands of growers is very small, although a few fairly large lines were placed on offer during, tho week by farmers. The coming season's crop is reported to be very promising, and, given favourable weather from now onwards, the* return shoitfd be much more favourable than last year, while there is every reason to' anticipate that prices will be satisfactory. As with wheat, oats are in limited supply,; general prices being from Is. 7d. to Is. Bd., but'in most'cases holders are unwilling; to take theso prices. Already a few samples" of new season's crop have been placed ; on. the market, and during'the current week a number of machines will be at work in various parts of Canterbury. Oats already threshed aro ireported. to-be lighten than -anticipated, this being due'mainly to-several excessively hot days experienced during the last few weeks, v-It is . expected that during tho coming week considerable quantities of new soason'a oats ivill bo on ■■ offer, but so far offerings: have been curtailed ■on account of shortage of the sacks, many farmers, having negleoted to give ' their orders early,'anticipating that the harvest would be considerably later.

A great parf.qf the , barley crop has now been cut, and is at present standing in stock.,' The .quality is■ reported satisfac--tory. .... / . '■■■■■

The potato market is very quiet, new season'ii crop, except in retail quantities, not haviniT yet come on the market. So far there ,have complaints as to blight, and the crops' in most localities aro lookine .very. promising. At the wool Bales on Monday the United Farmers' Co-operative Association and the ■Wairarapa Farmers' i Co-operative" jpintly offered a catalogue of 3SO bales of wool. • The report of tho sales which. appeared in our issue of Tuesday was the joint report of the two associations, although the, United Farmers' Co-operative received the sole credit for same. ~ ~ . . ■

; >■'■-. coppee. .; ~ ;'. '; By Telegraph—Press Association—Copyright. ■ ' ) London, January 4., ". Copper.-Su'pplies, 35,555. tons; deliveries, 32,28L J tons; , stocks, 109.022 tons; afloat,'3Boo' •tons.' ;■?•' •■ ;'■'■. ' '.•'-. . ■'■• ■. .

:,.;':''.■ ': DEBENTUEE3. .'■.. ;\\ ':[}.'■. :'"';'■■.', ' London, 1 January 4. Australian 'and ■ Ne\y '■ Zealand ilortcaeo Companyfs debentures arc. quoted at £93.. Others lincttanged. , . -..•' '■■ '■■ ;, '■ NAPpn , wool : sale. ,/. ■■.'.,.' . (By. Teleirraph.— Press Association.)., v .■ ■ ■,-.-. ■ :•:. , ■." Napier, January 5. . The catalogues for tomorrow's wool,sale exceed 21,000 bales, establishing record offerine for this/district. .Brokers experienced considerable diffldnlty in placine 'all'tho arrivals, owine to lack< of shed accommodation., To suit>the convenience of: buyers.' the sale has been postponed till.Z. p.m. . .. ~-' . •■.-,,.;.. (By Telcßraph.—Special Correspondent.), .■."'• '-.... ■■.'.-Napier, January! 5.: The catalogue for tho wool morrow, now ■ completed, shows a total offering of ■ 21.016 bales. ' Tho detailed flgures aro i as ,follow:—Farmers' Co-opera-tive; 4654 bales', 9 fadges, 267 .pockets; Williams and Kettle, 4656 bales, 3 fadges; Dalgety and Co., 11,349-bales: Wenley and Lanauze, 3856 bales; De. ,! Pelichet and M'Leod,- 1805 'bales; Loan and Mercantile, 1655 bales; total, 21,016 bales, 12 fadEca. 267 pockets. . , / "It is clear," says the Napier "Telegraph,"'"that the local brokers will have to consider the' question of providinc moro accommodation at thq, wool sheds before next .season* comes round if ■ tho heavy consignments continue. It is suegested that:'the' local .merchants should' dub together.'form a Email company,' and erect suitable sheds to accommodate tho surplus wool. ,-.The): structure could bo built'in such a .way .'that 'additions could' be made'from year to : year at a small cost. If .this course was adopted it would probably-: Baye a Rood deal of. money to. ngents, who' would otherwise be compelled to add to the present Btores. It may be that in.time all the brokers will,be undeij one .r00f."./--r jS y'" ,, .-. .;'■ . ■'.- . ■■•■:■::

„.' ' WAIHI GRAND JTJNCTION. y '(By'Teleßraph.— Press i, Association.) ; ■ Auckland, iJanuary 5. i ' Durine; J December the. Waihi , Grand; Junction, runniris' 22i days, ; crushed - 483: tons.' valued at' ; £ 9623.,■■ '■<;■ i•' ■.'.' : ..'.; ; ' :: ,- ■

/ KEEFTON,iMINB'\RETTJENS.'":,' :; ' ;. ■ ■'! (By -TeloEraph.— Press' Assdclation.) '•■ ..Creymouth, January 5. ■ The returns from the Keefton mines are as follow:—Progress : mine: Crushed 3376 tons, yield £4884, and ,, . cyanided : . 2678 tons, yielding. £1079.: Wealth-of. Nations:. Crushed 1845 tons; value, £3968. Blackwater-.. Crushed .2950 tons: value. £6826. ■

FROZEN MEAT TRADE. ,':.,-. .; ' ■.■ .■ '.; . PEOSPEfiTS FOB THE COMING' SEASON. (By Telegraph—Press, Association.)... \

: Christchurch, January 5. : The sixth annual meetinc of the BritishNew Zealand Meat -Company 1 was held today:, '■■ ■ The;. chairman ;-(Mr;. C. , . Qcbell). :in inbving tho ■ adoption '■ of 'the 'report''and balance-sheet, said the■•shareholders : wonld; agMo' ' that a; ! eredit' 'ati pro&tl.and loss',ac-'. .count'; of: £3520..' 17g.'. 10d;; fot'.-.ten -.pionthn wa.3 very satisfactory. "It was recommended that:it,should be)dealt .withv'as :foUoitb:To 'pay r a K dividend'' of i B"..per"vcent!,7;absbrbinß. £1230 f 125.j,5d,;. to" payoff'- the'lial-' 'ance'of 'to. ati. ; ■ply .£682 'Os. ■sd.';.to'..the..reductibn..',of;-the suin'outstanding atjainst Defroster 'rights;, 'and to carry forward £608 5a., -The'snpbort the compajiy : received tended to-Bhow.that 'the.•. 350 >:sheepowners .who ■ established • it : appreciated' hhvins;'. a-, company •' .of ■; their own.',- The.'.cpmpaiiy■ existed , toiprptect the . slioepowner v -and.' npi y to,, poll down'prices, but: to uphold ■them to the utmost bf its' power;' > After .dealine with' ithe'fall. in.pric.es,: and..referrine to carcasses rOn'-fhe, London' matliCt.in'.siirWeeks' as. should: 'have': ; boen spread over 'twelve', 'weeks,' ihe' asked,if;they.could imagine , anything more suicidal. In. his,' opinioris ■ the; question :of ■regulatinj;;; ■ shipments ; could 'onlyr.'bo> eov-. ernod-by the" freezing companies, assisted '.by the .sheepowners.."' If th'e' last-men-tioned," instead' of holding-back'- their: fat stock to ''make heavier,', which-, he;. ,was afraid they were now ;doing', and.repeatirie last year's'folly—if instead of doing, this, and.vinstead of retaining ifinthe, free> ing works as long 'as' possible; speculating■ 'on. a , ri£O ; in'the market. • they ; -would send. their lambs forward ass6on:as v they. mat-. <*uredi and "shipi them as.early-asi'poßsible .afterwards,■.;.they.-, would , -greatly■ '.'holfe^to." Erevont a; heavy accumulation of -meat in: ondon'-storeg.' After nearly, thirty;years; experience in 'breeding -and..:.fattening' iambs, -.ho■'confidently asserted, .that: if. lambs-were- sent '.forward , when ripe- arid; shipped, without .delay..there, would beJno' ;trbuble 'about 'slaughterine/and.'.storine.' nor/would' yhey' hearVmore of .tho agitation for increased , cool', storage in the: Doinih- , ion.'''iHe-entirely agreed with the reference■ made by- Sir , Geo.. Clifford, ■ when , addresninc tho. shareholders .of. the, Oahtorbur; Frozen. 'Moat Company recently.to the effect that it;'.. would,'•'''■be.'•'.' advantageous', .if;, the number- of ' 'small" lots''shipped;, were. popled.'.Everyono -would-, admit that if the meat.were carefully- graded every shipper of sucli lota ■ would, be benefited. , Hβ.: oj;pressed: , the ■ proposed conference: regarding, the frozen' meat ex■port trade,/but/when ho'aearned that the freezing companies .did'not'intend to be represented he was not.'sanguirie. that any good would result. ~.Ho, contended thet the companies 'held tho key' to the carryine out of any reform. Eegarding the Jook for' the present year, ho said: "I strongly advise owners, not- to be discouraged by what they hoar in the etreet as . *,o tho courso of the market for the cur'rent year. The statistical position is con-1 sidered to be. much better than last year, and as, our meat hs undoubtedly found its way during the past .year into outletsunknown bofore, it will. I think,' mako itself apparent during the coming season, and prices -will be upon a considerably higher level." .' >"- ■■ ■ \ The report , and.balance-sheet wore agrceftto, nnd Messrs. Horrell. and Harley/the retiring directors, wero re-elected.:: A dividend at the .rate of eight por cent. wiir."b^o -payable on,, January. 19; ■