COMMERCIAL ITEMS.

Dominion, Volume 3, Issue 727, 28 January 1910, Page 10

COMMERCIAL ITEMS.

■V. •' INVESTMENT SHARES. ; The market exhibited a better tone, yesterday, and sales were recorded of New i Zealand Insurance at.'£3 16s.,'and Westport Coal-at £6 ss. ; National Bank, buyera £6;. | Bank of New Zealand, buyers £9.85.,. sell--ers ■£9 10s.; Wellington Investment, buyers lis.; Wellington.Trustand Loan, buyr era £7 4b.; Wellington Deposit, sellers Bs.; National . Mortgaged buyers £2 195„6d., sellers £3 Os. fid. Ohristchurch Gas,, buyers £9-17s. 6d.; sellers £10'55.; Wellington-Gas, £10 paid, sellers £18 55., £6 15s. paid,'Bellera . £14,55.; National Insurance, buyers £17s. 3d.; Standard Insurance, sellers £1 3s. 6d.;. Ohristchurch: -Meat, sellers £11 7s. 6d.;' Wellington .Woollen, sellers £3\4s.j Westport Coal, sellers £6 65.;, Westport-Stockton,' sellors '75."3d.;-.'Kauri-.Timber, sellers' 16s.';-Leyland-O'Brien Timber, buyers £1, , 3s.;' Niw Zealand Portland Cement/buyers £1 18s.; Shafland's preference,-, buyers £1 la. y ; NEW ZEALAND AND RIVER PLATE . LAND..MORTGAGE.' . The report;of the' New Zealand and River Plato Land 'Mortgago . Company,' Ltd., for the year etided Octobcr 3t last states^that during, the year circumstances have; been exceptionally favourable, and the • net profit, exclusive of the amount brought forward, amounts to £46,500, and compares with'£4o,79s, being an increase of ~£5705. The directors how rccommend-a'. dividend of 4, per cent, '(making! 8 per cent, for the to reserve (making the reserve £290,000) £22,000,, and. leaving to bo .carried forward' £5565/ \ - ' LONDON .WOOL.SALES, r : : . ; /.TGood. bnsinesa continues'.-at the London, wobl.:sales,: and prices aro: firmly , main--tained..- There is now/ no likelihood of values .receding, and if'the supply for the March "'sales' is/not':excessiyo-'the' continuance, of-good prices' may: be'safely anticipated. .The collapse/of;the.Newcastle-coal-strike, • which', now seems • very, probable; • •may., havo a - , disturbing. ofTcct. v by -causing*" the. or. .a..consiceraoio 1 quantity r of wool now, held .in store in Australia for want /of shipping facilities. Tho Commonwealth has a largci' clip to. ship this. that last, and yet . up. to the. end of "December,, tho shipments were in the- aggregate less than in tho > corresponding, period of the previous year.' There is tliUB a . very -large . quantity stillto. go forward.: ' ;a-'■ >•. • : .Tho Australasian, Cape, and River Plato wools received in. Euro'ne and North Ame-: • rica in!1909 amounted.,to .3,247,000 bales, and ; .that.,wasi'the first year on-.which' the total' had reached 'three,million; bales', l » The f6l-' •lowing table 'ia condensisd'.from 'that/supplied by Messrs. Hclmiith, Schwartze and Co.:— . TOTAL-IMPORTS FOR. THE SEASON INTO . . EUROPE AND XORTJI AMEEIOA. v

All'three sources of supply established records. - . It should always be remembered .that. tbe ; r River Plato . bale .is a good-,deal the^Australian.. . i: MONET' MARKET A-, : : .. The'"New Zealand Trade Keview," ' issued yesterday, says:—''The particulars of exports and imports in'the, December quartor bear'out the anticipations expressed in our last issue. The actual figures, .apart from specie, compare asfollow;—Exports, 1909, ,£4,080,092; 1908, £3,143,710; increase, £937,202. Imports, 1909, • 1908, £4,037,167; decrease, £104,921. Excess of exports,- £148,746; in 1909;- excess, of imports, £893,457 in 19081'. The resulting difference in the''position-, amounts to £1,042,203.' ; Tho. total values : for the last; 1 three' years, apart • from 'specie, compare as 'follow:— Exports, 1909,' £19,635,936; >1908, £16,075,252; 1907, £20,064,293. Imports, 19G9, £14,813,644; .1908, £17,247,162;. 1907, £16,539,642. Excess,of exports,. £4,822,292 in 1909,, and £3,524,651 : in 1907. . Excess; of imports, £1,171,910, in 1908, The improvement in the twelvemonth is equal, practically; to six millions. Tho - offeet of this recovery is shown, in the bank returns, Svhich : disclose , a. decreaso of -ad* vancea to tho : amount of £2,644,000, : with •an increase of £1,339,000 - in - deposits, inspite of . withdrawals during the last quar* ter of some £827,000—in advances and de- : posits,-for ,the. purposes of tho season's produce.!movements. There is every. indi"cation that as tho 1909-10 season .progresses the present 'improvement, will be continued. Of the cxcess of exports for .1909 the'major portion will-bo required to meet interest obligations, and it is to be remembered that :tho" surplu.s beyond these liabilities will go .only a; small way towards recouping tho;heavy advances mado by the banks to help the community over the difficulties of 1907-8. The supply "of money in the open mai'ket .is so good that tho building companies have reduced their deposit , rates by. 5 , per cent., that is to say, from 4J to 4 per cent, for deposits for a twelvemonth.'' \ '• . v . V NOTES. f . The new business transacted by the Australian Mutual' Provident Society during the , year 1909 established another record. The. new; assurances 'in the ordinary department amounted to £5,160,000, and tlw total, for: the .industrial department wag £690,000, making altogether £5,850,000. Towards this result the various branch offices in all.the States and in London contributed Yory. satisfactorily; , - The report ,of the Queensland National Bank, to' be presented in Brisbane on February 17, states that, tho net profit for tho half-year -was £444,321;, of . which £19,432 is carried to.'the contingent account, leaving £25,000,-.divisible as to ; £20,000 to tho private depositors' repayment fund, and £5000 to the reserve fund,, which is thus raised to £84,000. In September last the bank repaid a furthered, in tho £ on the amount ' written off the original deposit receipts, and there is now £33,525 in hand towards further payments. V • The Middlesbrough' correspondent of "Tho Times," writing under date December 16, stated , that- the iron market was buoyant, and pig-iron prices had shown genoral improvement. . Inquiries for iron for forward account..were brisker and prices stronger. Pig-iron shipments weresatis-, factory, averaging over 3200 tons per working day. East Coast liematito iron prices were firm at. 60s. for prompt and 2s. 6d. per ton more for delivery next quarter— a -price which the; increasing valuo of blast-furnace coke and foreign ore would further tend to harden. Tho stool market was-brisker, but prices unaltered. . •'Early' in Decomber Mr. J. Pierpont Morgan purchased-from Mr. T. F. liyan a majority of tho share capital of the Equit- ! able Lifo Assuranco Society of the United 1 States, including tho shares formerly held by-Mr, J. 11. Hyde.; The share capital in question is small (only £20,500); but, subject to the trust established for the benefit, of policy-holders; it, carries a consider, able control oyer the administration," and' ♦•he Equitable, holds. £100,000,000.. of assets^ 1

including 50,000 shares in the National , .Hank of Commerce, the v second largest . bank inthe United States, 14,500 shares in the Equitablo TrUßt ; Company, and 13,000 shares in the Mercantile Trust Company, i Mr. Morgan holds other interests in those *» trust companies.. ■ Tlio total amount of, tho dividendß paid I by--"West'Australian mining companies dur« s' ing 1909 was £1,284,115. The ,oash dividends [ paid to date by. tho West . Australian gold , mines is £20,248,010, from an output of , 19,94f1,2000z. fine, of tho value of £84,734,137. i . According to "Tho Times,"-in its com- • mercial supplement of December 10, a re- , markablo change is going on in' the English boot and shoe: trade, "which promises , to have a, far-reaching influence on both that and tho tanning industry. The repeat . orders for winter goods'havo led to a'great expansion in' the output, and /with very heavy,, contracts, for spring and summer goods, full-time will be general after the turn of the. year.' One of the most im* portant developments is the .resumption of the . export. of boots and. shoes to * tho . United States of America, after being completely shut out for nearfy a quarter of a contury. The reduction of the American tariff on boots and shoes to 10 per cent, on goods made from leathers of the bovine species and t9 15 per cent, on other leathers, has - given English, manufacturers an opening for competition with American manufacturers in itho : United States. The reopening of the long-clo3ed American markets is regarded as' a most' promising featuro. There is a larger business in English, American, French,, and Australian leathers at-extreme rates. ' Customs revenue collected at' Wellington yesterday amounted to £4045 3s. AUCKLAND GAS COMPANY. (By Telegraph.—Press ;:Asßociation.t / Auckland, January 27. The annual report of the Auckland-Gas Company shows that ,the : net profits for the year' were, £44,700. The directors recommend a dividend of 9s. on fully-paid shares, and a proportional dividend 1 of -ss: on paid shares, which, added to the dividend paid in July, amount to £34,208.. This leaves a surplus on- the business of the year of . £10,491. ; s , • C.C. AND D. CO. ; . tßy Telegraph.—Press . Association.!' ~ Naplor, January 27. . The. C.C. and . Company to-day cabled the following report on the,report of the frozen meat market:—'''Tho mutton market is weaker, and values for North Island have declined £d. Frozen beef is in better demand, and values have advanced |d. To.day's Quotations are:—Muttdn: s NapierWellington,' and North, Island, 3|d. Lamb:' First quality, 4Jd., second 33d. Bee!: Hinds, 3)d;, fores 2gd. . ' . WHEAT. •.. ' London,. January 26.The American visible supply of . wheat is' estimated at 54,459,000 bushels. . TALLOW. . London, January 26. ■. At tho. tallow auctions 850 casks were offered and 650 sold. PriceH wero unchanged. HIDES MARKET. . (Eec. January 28,, 0.30 £un.) Melbourne, January * 27. In tho hides market supplies wero moderate, and competition was keen. Prices were very firm. .->, ... ;• AUSTRALIAN' PRODUCE MARKETS. ' ; (Rcc. January'2B, '0.30 'a.m.) Sydnoy, January 27. . Wheat, 4s. 2d. Flour, £10 10s. Oats, Taa- 1 manian white,: 2s. 7d. to 2s. Bd., Algerian feeding 2s 2d. to 2s. 4d. . Barley, Cape 2s. I 9di to 3s. ' Maize, 4s. 2d.."Bran, £4 ss.- . Pol-, lardi £4. 10a. Potatoes;'Tasmanian, £6'to £7. Onions, '£4 10s. Butter; 905.. to 935. Cheese, 6d. Bacon, fid. -'V ■" Melbourne, January 27. .Wheat, '4s.' 3d. Flour, £10 ss. Oats, Algerian, 2s. Id.' Barley, prime English malting, 45., prime Cape 2s.>9d. • Bran',, £4 12s. 6d. ! Pollard;. £5., Potatoes, £3 ;to £3 6s. Onions, £2 10s. to £3 > 10s. 1 Adclaido. January 27. . Wheat, 45.. 3d.-Flour,-'£9-15s. Oats, Algerian, Is. 9d. to Is. lOd. Bran, 12id. Pollard, 13£ d.• • . .

Austra- River Year. . . lasiau. Cape.,: Plate.' Total. ■r., ( ■; Bales: \®ales., Bales..-Bales. ■ ■1890 1,411,000 .288,000 317,000 2,016,000 1895 2,001,000 . 269,000 ' 613,000 2,783,000 1900 1,456,000 '140,000 . 468,000 2,064,000 1905 " 1,633,000 209,000 . 488,000 2,350,000 1906 l,fi33,0C0V;Z38.COO . 487,000:,2,550,000 1907 2,103,000 287,000 478,COO 2,868,000 1908 2,072,000-275,000 484,coo • 2,832,000 1909 1 ..I....... 2,296,000 . 380,000 571,000 3,247,000