COMMERCIAL ITEMS.

Dominion, Volume 3, Issue 734, 5 February 1910, Page 8

COMMERCIAL ITEMS.

. INYESTMENTuSHASES..'.'.■-/' / : , ■A fair', business /.was •• done • yesterday; Bank ;.of Now.;Zealand,.shares . changed hands/aiiS.!^.; .Wellington! Gas, £10 paid;ati£l7.lss.i,and tho,new,issue at £2 10s; premium. .■Natiohal' , Bank, buyers '£9 2a: : fd-.'sellera £9:;43.T'Bank'of New'-Zealand,, buyers £9 lis'.;;•/Wellington' Investment, buyers-lis.,:, sellers Us. ,;6d.;'' Wellington Trust and : Loan,' buyers £7 Is.;' National MoTtgage;..buyers, £3;. Wellington; Gas, £10 paid, sellers ;£17i155.; Wellington Woollen, sellers.'£3\'4s:;-.-'Westport-Stockton, sellers Vs. 3d.;, Kauri .Timber, buyers 155., sellers 355; 6d.; Manning: and-Co., sellers £4 is.; New Zealand Drug, buyers £2 76., sellers £2 ;8s:;/New,'Zealand Portland Cement, buyers £1; 17s. 6d.; Sharland's ordinary, sellers £1 25.; preference, buyers £1 Is. 6d.;' Taranaki Petroleum, buyers 9s„ sellers 10s.

; M3W V ; ZEALAND,: INSTJEANCE'COirPANY.,' /.-The rbaiance-sheet/bf the New; Zealand' Insurance' Company; Limited; for the year •ended/November 30, .1909,: shows ; that the ,fire, marine, - and ■ accident premiums, less Reinsurances, amounted, to £603,282, .and .the ; percentages to; 'premium income of ■losses; expenses, and, profits were as ;under:— .' . , - ■■'-. ■'■■■„■■■."■ ■' * Per cent. :' :Losses ..-_. 433,964 equal to 71.34 ■ Expenses 161,898 equal to 26.62 ■'- Profit ...:....... 12,420 equal to 2.04 ' The- underwriting -profit- of £12,420 was comparatively, small, ' and represents slightly more than 2 per cent, of the premium income. Interest, and rents brought' ;in' £28,468,. and there was brought- forward: from the previousycar-'£8793,/giving; an available balance of £49,861: For 1908' the underwriting profit was £51,744, or" 8.33 per' cent, of the premium income, which totalled' £620,425. : The, available balance for .1908 was. £85,293, as. against £49,861 now. Tho distribution of the balances is shown below:— ' - . /'/' : ;- ; //'//': ' ; -.1909.:'?■ 1908. ■' ■: , ", £ ■ :.- -£.. Dividend ...........;.„.... 30,000 : 30,000 '■ . Beservo. fund ; 10,000 . 30.000 •'.Eeinsurance fund ...V...—' - . 15,000 ■ ■'.Inv. fluctuation fund — 1,600 .Carried.forward :9E61 ■'. 8,793 .£49,861 £85.293 Tho company, hos had apparently a very poor. year. The principal' items" in/ the balance-sheets of .the: past,two years com. pare as '.under:— . ■-•■••: ■■:-.'■-.: /lm:-- 1908.::; 'Dr. .■ - . --'■£. ,/. '£.-■-■■-• Commissions, etc, ...147,724 144,578 .- ■ Taxes, etc. .14,174 .. 14,744 '■-' Losses--....:: 433,964 409,358

-- Premiums ...;.„;..;...L 608,282 :. 620,424 -;v Interest and rents... 28,648: 26,875 - .The Teservo fund now'staads at £195,000, as compared with £185,000 last, year,' tho reinsurance fund'remains at £250,000, mortgages and shares, £65,629, against £60,029; premiums and properties,. £258,752, against £245,330; Government securities, - £393,41?, against £372,934; fixed deposits, £16,719, agalnßt £32,219;. branch and agency balances, £112,608,'.' against ■ £117,066; remittances, £7000, against £7652; and cash. £11,076; against £61,988, . - ..:..,, LOAN ASSOCIATION' OP CANTERBURY. -,The report of tho Permanent Investment and Loan Association of : Canterbury • for 1509 states that, after paying the usual .dividend at the rate of 5 per cent, for the year, there remained •: at .credit of profit and loss account a balance of £926 Is. ■ 6d.. Of this amount,' £500 :has been transferred to the reserve fund, which now stands at £8500, leaving a balance of £426 Ib. 6d. to be carried forward. Tho capital of tho association is - £100,000, fully paid lip; deposits and. accrued interest total £30,922 15s. 4d.; reserve fund, £8500. The assets include, loans on mortgage, ■ £140,097; interest due and accrued,' £1899 195.. 3d.; 'office furniture, £25; sundry debtors, £33 lis. 6d.; bank balance, £307,145." lOd. UNITED STATES MEAT SUPPLIES. .The anxiety .of. the' American Beef Trust to obtain a foothold in the Argentine has been attributed to a desire on the part, of this combination to control tho meat supply of Great: Britain. There are others who believe that it is impossible for Buch an organisation' to effect such a capture for the simple reason that tho U,nited Kingdom receives supplies from'so many different sources, and is not wholly dependent upon any ono country. It is stated also that tho Beef Trust - is anxious to supplement the, American supplies, which 'are. showing alarming shrinkage, and there appears to bo somo truth in this. : ; In the annual report of tho Secretary of Agriculture of tho United States somo interesting passages arc devoted to tho exposition " explanation of tho decrease, absolute or relative to the population,. of moat supplies in- tho United States. :Tho supply . of meat in relation to population has been declining sinco the first live stock census id" 1840. Since 1900 it is probo.ble that'tho number of cattle has shown scarcely any absoluto increase,- in spite of a gain in population . of nearly 20, per cent. ;■ in 1900 tho average of cattle' on farms to each inhabitant was .69, in 1890 it was .92. Tho figures for Bheep and: swine arc similar. In regard to eiports those for elauehter

rose to 593,000 in 1904, and have sunk to 208,000 in the. fiscal year ended June 50| 1909; the exports of meat and its products reached the maximum in 1906, amounting to 733,000,0001b., and have now fallen to 419,000,0001b. The exports of beef in 1909 were only 57 por cent, of those in 1906, the record year, • and this fact, according to the Secretary of Agriculture, in view of tho absence of any inoy eased severity in tho tariff restrictions of European countries, and notwithstanding industrial depression abroad, evidently indicates a decline in .the supply of beef animals during the last three years relai tive to consumption. Exports of pork and its products also reached their maximum in 1906, being 1,4G5,CC0,0001b.; they were 1,053,000,0001b. in 1909, . :■ • , With lessened exports from the United States and with every prospect of a steady yearly shrinkage, tho connection of tho Beef Trust with the English markets can bo maintained only by : exploiting now fields, and Argentina is probably their best Held since it is /comparatively near to their headquarters and the British market.

AUSTRALIAN BANKING. The operations of tho Commercial Banfc' ing Company of Sydney during the halfyear ended December 31 last resulted in a profit of £123,500, as against £111.103 in the preceding term, and £99,402 in December. .1908. Tho balance, available is £147,610, of which the usual dividend at tho rate of 10 per cent.. absorbs £75,000. The sum of £40,000 is added to tho reserve fund, which now stands at £1,340,000.

The City Bank of Sydney shows net profits for the half-year ended December 31 amounting to £7088, as against £7053 in the preceding term, and' £7030 in December, 1908. The amount: available for distribution is £9096, of which £1000 is placed to reserve, making that fund £14,500. The usual dividend at the rate of 3 per cent, per annum absorbs £6000, and a balance of £2096 is carried forward.

The accounts of tho Queensland National Bank, Ltd., for tho half-year, ended December 31, 1909,' show net profits of £44.432, .as compared with . £43,737. in the same period'of 1908. There: has been carried to contingency account £19,432, to private depositors' repayment fund £20,CC0, which now.stands 1 at £33,525, and to reserve fund £5000, making this fund £79,000: At the end of September last a further repayment of 9a. in the pound on' the amount written off the.original deposit receipts was distributed to stook-holdcrß, making the total repayment3s. ;9d. in the £. . :•.

'■ INSTTEANOE OP PREMIUMS.".'. There appears to bo no .limit to- the multiplication of - new policies ■of insnr-. ance,' and a polioy now - offered by a British ofilco differs to. some extent from anything previously in the field.' Any person who satisfies the company that ho is a first-class-life,, and that Ms age does not eicced '50, may become the possessor of one at the,annual premium of £7 10s. per. £100 insured. Should the holder be "totally incapacitated" from attending to his.business for, .'any continuous period not lesß than a .week, the: company will pay. him the relative proportion of ■ premiums ,on all his policies of every kind, including the one insured by itself..: Rent, taxes,. interest,: etc., may. also bo covered by special. arrangement. '

Customs, revenue collected'at Wellington yesterday amounted to £1701: Us.- Ud.

■'. WELLINGTON- MAEKET EEPOET., ; . The New Zealand Farmers' Co-operative Distributing' Company, Ltd., report as follows:—Fruit has not been in such largosupply during the past week, probably owing to the wot weather then prevailing. Australian grapes, are now - reaching . this market. There is-.very. '-little alteration in values. Vegetables of all kinds meet ready sales. "Potatoes, are in.short supply, and values for large, clean-lines have beenvery satisfactory., Indications .point to larger suppler.during the coming few.weeks with weakening market.: Poultry is low in price, and In heavy supply.rEggs have risen 4d. per dozen, during the week, and demand is good. ".We. do not expect them to rise over 'la. ,4d. tor. some-time yet. Farmers' inquiries for grass seeds.are now coming in freely. Lines of North Island cocksfoot should reach us. without delay as a drop in price is probatilo when tho bulk of tho Akaroa; crop . becomes .-; available.' Batter is firmer, and demand exceeds tho present,'snpply. Chaff is in.short supply, and. the; market exhibits . a firm -'.tone. Wheat is also inclining upward in value, I'with, short supply. Pollard and bran are difficult' to procure. Wo have .this year largely .extended our fruit trade,' but still have the.. capacity for a greater increase,' and .wo hope present, suppliora ■ who 1 , aro satisfied with our', present efforts" on their behalf will show appreciation by'advocating; neighbours to .ship our way, to the benefit of. themselves; tho company, and tho general, protection of the industry. Pbta'■toes: Best-Hutt, £10; medium; ..£B;.others,'. ■£5 per ton.. Cabbage,: Choice, 4sT- 6d:;" ordinary,, 3s. 6d..per sack. ■ Green peas: 7d. per peck. Carrots: Hutt, 10d,, dozen. Turnips: .'White: 4d.; dozen.' 1 .. Swede's: .ds." por sack.. -Vegetable marrows: Is: 3d. p'er's'ackT-'poor: demand;. lettuce:-Choice, is;; fair, 6d. por' case; ..over-supply** Spinach:,-,"Beat,'-2s. 6d.' ; por.case.';,French; beans: Choice Hutt, Id:;'' othor;.'lots.-ld. to Jd. per lb.- Cucumbers: Hothouse 15.,t0 ,2s. dozen; dutside'.grown, 2s..per banana:-caee..,Broad beans: -yd, per lb. '.Spring-.onions:'lod. dozen,-bundles'. Badish; 6d.'dozen bundles. Tomatoes: Hutt, 3s, 6d.'to 45.; Nelson, 35,.t0 3s. 6d: per half-: case. Rhubarb: Is. dozen bundles; poor demand. Apples: Cookers, large, 3s. ;6d.; small, ,25.. 6d. case. ; Apple 3: .Dessert, well coloured, 65.;. others, ss;; per case. Pears:.. ■Dessert; '48.;. cookers, large, 35.;. small, 25.per .half-case: Capo gooseberries: Sid. .to 6d.-lb. - Peaches:' Choice dessert, Wiggins, :45.; medium, 3s. 6d.; others, 2s. to 3a.' halfcase. , Plums :■ Blue Diamonds, 3s.'; ; Ogans, : la., 6d.; Burbanks, ■ 2a. to 35.; Victoria, 2a; Greengage, 65.; Satsuma, ,2s 6d.'j., Wizen, 2b. 6d. per half-case., Butter: Best. Separator, printed wrappers, Bd. to 9d.; separator, bulk, 8d: to BJd.; dairy, 7Jd. to Bd. :Oheese: Best, factory mediums, old, 6d,; new, 51d. to 6Jd. per lb.; loaf, :6Jd. lb. Dreaßod.'pork:- '/o'a. to 90' a, '3d; to 3id.; 9il's to 100's, 3d.; baconcrs, 3d.; qhoppers, heavy, 2d.; our weekly pork sales hold,each'Fri'day during summer. Eggs: Is.. 4d. per dozen; good demand. jlacon:, Factory sides,: 6Jd., ;rolla, 7}d.; hams, 7d.. per. lb. Honey: Demand is/weak now jam fruits available;.6o's, 4d..per lb. 'Beeswax: Strong inquiry; consignments would realise high values. Fungus: Keen demand at .'Sid. per lb. Walnuts: Scarce;, early lots would realise high values. .Tallow: Tins, 225. cwt. ; Onions: -Melbourne- Globes, . JE7 • 10s.:' locals,. •' £6 '•' 10a. , "per. ton. Strawberries:'ls., to la; 2d.; .-medium,. 10d., Ser: lb. Raspberries:,' 6s. to' 6a.' 6d. per ucket.; Neotarinos: Choice, 3a.: 6d.; ■ medium, 2a. -6d.;-small, 2a. per half-case. Grapea: Best .Hutt; 7d., to Is.;. Nelson,- Bd. to; lOd. per lb,, poultry:. Cockerels, 6a. for good birda;. small, 35.: table boosters, 45.; tablo henß, 3s. 6d.;-.small, 2s. 6d.. to 35.; ducks, large,, 65,; ! small, 3a. 6d. to .4s. -per pair;'. -turTcey. gobblers, 9d. per lb.; hens, Bd. per lb. live weight., Maize, : 4s. to-4a. 3d. per bushel. .Wheat: 4s. Bd. to 4b. lOd. per bushel. Barley:' Feed; 3s. 3d.'per buahel; Cape, 3s. 6d. per bushel. Uorso boana: 4s. buahel.. Partridge peas: 6s. per bushel. Prussian blue peas: ss. 6d. per bushel. Barley, meal: Special quality, £5 per ton. Sharps: £5 10s. per ton.' Bran: £4 10s. per ton. ■ Chaff: Primo oaten sheaf, £3 6s. -to £3 158.'per ton. Hay: Prime, £3'l6s. to'£4 10s. per. ton. Straw: Wheaten, £2,65. -pel 1 ton; oaten, £2 2a. 6d. per ton. Oata:'. Feed, 2s. 3d. to 2a. 6d. per bushel; seed, Gaftons, Duns, 2s. Bd. per buahel; Algerians,"'2s. 4d.per b'ushol; crushed, 2b. 7d. per bushel. ..

I ;,. ■';. ibkDON ...TOOL'.-SALES.'.... '•' b. 'The Bank of Now Zealand : has' received the following cablegram from, its London branoh, dated February 3:—"The wool sales have closed very firm, and prospects are good. There is ngood demand for ;all kinds lof wool. . The market is strong for coarso crossbred..'Prices are higher, par to 5 per cent., and the demand. is active. Prices for fanners' lots, average condition, are not- -likely, to- show much' ohange , next series. The. total quantity hold over is 6000 bales, of which none are New Zealand.".. ... : ;-. ikPETUAL CONSOLS: • ■'-. ', ': j-. ;.'.'. DECLINE 6s. 3d."-,. By Telegraph—Press-Assoqiation-Copyrlght."■ London; February 5. ' Consols 'are.quoted at £il 18s. 9d„ as against £82 6s. a week ago. SILYER, ' Bar. silver is quoted at 23? d. per ounce standard. GBAIN MAKKET. '.'■ . (By Telegraph.—Press .Association.) . ,~ Christchurch, February 4 The New Zealand' wheat that ■ was threshed before the late rains is in deiriand locally, as it is expected there will he very,little.more stook threshing done this season. Old wheat is also inquired for. There is. an advance in price for sound new wheat, and up to 45., less com; mission, has been paid for a line of 2000 bushels of Wailtarl-grown Tuscan. Other sales of now wheat have been made at 3s 10Jd.,' 3s. lid., and 3s. UJd. at country stations. . There aro no oats offering,' and thero is no - change to' report in barlov Cocksfoot from the Peninsula is now offer ing more freely; and prices aro rather weaker, a considerable amount'having been purchased at 4d. per lb., and much of this .was- 151b. to 141b. .seed. The price at which dressed seed is heme offered 'in the North'lsland has had an adverse influenon on tho market. .