COMMERCIAL ITEMS.

Dominion, Volume 3, Issue 747, 21 February 1910, Page 7

COMMERCIAL ITEMS.

' INVESTMENT'- SHARE§.

The transactions recorded on Saturday were: National Mortgage at £3, Now Zealand Loan and Mercantile at 3s. 3d., Weilington Meat' Export, £5 paid, at £6, and Taranaki Petroleum at 9s. 6d.- National Bank, buyers £6 45.. sellers £6 55.; New Zealand and Kiver Plate,. buyers £1 165.; Wellington Investment, sellers J'ls. 3d.; Wellington Trust and Loan, buyers £7 Is., sellers £7' 45.; Wellington Deposit, sellers Bs.; Ohristchuxcb Gas. sellers £11);' Feilding' Gas, buyers £1 Is. 6d.;"New Zealand Insurance, buyers £3 13s. 6d.,. sellers £3 155.; Standard Insurance, buyers £1 3s. 3d.; Uhristchurch -Meat, buyers XIV Ss.j Gear ■Scat; £1" paid"," buyers' "£2 125.; Wellingtbh' Meat Export,' £5 paid, .buyers £5' 19s- 6d ; ; »4.".paid,..'ibuysrß 1! £4- ,165.; Wellington Woollen,' buyers £3; Hikurangi Coal, buy-. Westport Coal,: buyevs £6, sellers' A 6 .Zs. cd.: Weatport-Stockton, buyers i£7 43., wllew £7 63.;. ; L'eyland-.o'Brieu Timber, buyers'£l 3s. 3d;; N.Z". Consolidated Dental', sellers3s. id.; Taranaki Petroleum, sel--Jg-8, 9s.j Ward .and Co., buyers £4 135.; whitcombo and buyers £4 i9g.

. STANDAKP INSURAXOE COMPANY. : " ®«,'bWwicfrMieist'of the' ; Standard Fire ana- Marine Insurance . Company of New /caland/ilitd., for - the year ended- December 31. ,1909,. Is, very satisfactory. . The premium ..revonue: amounted to. £108,830,-. but tne, reinsurances, discounts, and return premiums totalled i leaving the net premium income at £67,641. The losses oipenses,'• and underwriting profit, and tneir respective'percentage of the' premium income; show. as. under:— ' -' : • Underwriting - losses 40,27^- C 59?54 - 21927 -- 32 4? Underwriting profit. s*^4o ; 1 a.04 ; V. : ? ''.J' ;;/;';' £67,5*, i ico.co The. percentage 'of' underwriting. profit is Satisfactory, .'considering' the 'goneral experience„ of, To' the. underwriting profit 0f'£5440-must be added the in-Mmft-.-ltom interest; on investments and -, eES -totalling; £7133, also,the' sum Of . forward from' ;the previous year. These give -an available'balance of £20,639, out of-which £5000 has been. taken-for,augmentingi Hlioiireservdrifuiid;' which, n,oiy stands ''at £60,000; V the dividend at .the rate of -7i per cent, and bonus of 21 per. .cent, absorb i £7500, leaving £8139? to be earned ti forward.;. It .is J stated : that: full provision, has . been made in the: accounts .. ascertained , .to the close of the"year. ; ,

THE BEITISH NEW GCISEA BEVELOP-Mt-ST COMPANY. LTD.'

This: comjany, which hag been formed Vith; a. capital of - £1,500,000, and; which is - making an issue of 500,000 7 per cent.'participatiug'preference shares of £1 each, the issue: ,being ..made simultaneously.'in ,-Engund, the Continent, . Australia, and New Zealand, has connected with'it a. number of namidi well, known to ' Australians and Ivew' Zoalanderß. r -' The "chairman of 'the company will; be'the'Earl-of :Ranfurly, ? iv no: had, the. uniQne distinction: of 'serving two . terms.: as Governor of- New Zealand.: One of his. colleagues ris Sir Weetby, Brook Peircival, .a director of'theVUnion Bank: of Australia, Ltd., Vfto has had the remarkable experience of serving both 1 Ifew-Zealand and Tasmania - as 'AgenirGeneral of these' States in London. ■ -Horn, a director of.the Bank 1 of' Adelaide, who was prominently .connected with the Brokim Hill mines in. the eaTly days, is.also! a director of ,the;new The Awstrnlinn advisory committee will consist/of Sir Alfred Cowley.''chairmdii. of 1 the' Bank Queensland, 1 " Ltd.the Hon. 1 ' .Li B.iillieu, - •member' of;the' Legislative' Council bf. Yictoriajiand the Hon: r Agar '."Wynne, niember of the • Commonwealth House of Representatives.- The'general manager of th>) com* pany: .Guinea, or Papua as. jit is now called, will be Mr,' Charges A. Darling, late' London manager of John' Darling and Son, <Jf Adelaide, 'Melbourne, 'and 1 Sydney; and a brother of the well-known Mr.-John Darling • o fi : Adelaide. - • The' objcct: of the. company is to acquire lands in ,British New Guinea, otherwise known ; as the Terr ritoryVof Papua.'promote the cultivation on ,such landq of tropical produce, on. a' largo' scale, and to establish.and."carry on financial and mercantile trading and 'general development business. BANK OP; ENGLAND RETUEN., By Teleffraph-rPress A ssociation-rCopy righ*. : \ \ London, February • 17.- : '■ The Bank of England return issued for the'week ended 'Wednesday,-, February 16, iavas -under:-r r - ,i ; ... -Issue Department. ' ' Jlote Issue •••' £5-it654.000 Gov.debt;.. i 11,015,000 v . r Othersecuri-..,: • ::.V, -ties. '• ....v 7,43i,000• ,:.;= ; Gojd 56,204,000. i- £51,654,030' / . t Banking Depabtmest, Proprietors' ■ Govfc.'fiecari- ; ' c&pital: - • £14,553,000 ' - ties.;, v^£14,019,000 Public do? '• Other seoarl- : ■ posits 8,976,000 tiea.:-. . 2D.043.W0 Otherde-. posits ... 44,239,000 Notes' ' ' ..." 37,125,000 Best, 7-day " •• • • • and other , Coin ... 1,122,000 ; bills... 8,543,000 , • ; : ' i 11,801,000 : . .. i 71,301,000 : The leading items of the Bank of England retnrn: .afford the ; 'following comparison:— ~ ' . ■ ... This week. Last week. Last year • S, £ ■ Bullion ,36,304,000 35,402,000 . 35,275,000 Reserve ... 28,218,000 27,227,000' 26.918,000 Note circulation 27,523,000 27,79i',000 M,507,000 Public Deposits 3.9J8.000 : 7,601.000 . 12.083/X3O Other Deposits U.fflt.OOO --44.734,000 41,157,000 Proportion .of ~ ... .- i • ) reserve' tO" . '.' . I liabilities ... 53.04 ' 1 ;51.60 50.59

~. . GOVERNMENT SEOUBITIES. ' " ' She following are the latest Quotations lor Government securities, with a com* parison of those ruling last.week:—

;;; ' 'bank rates.of discount . . . - j • Tftd Bank of Kngland discount rate, i ; which was raised 1 on Octobor 7 from to 3 per cent., on October 14 to 4 per cont,; 1 and on. Octobor 21 to 5 per cent., was on j reduced to 41 per cent,, on January 6 to 4 per, cent., on January 20 to 35, per cent., and on February 10 to 3 ! por cent. : ' I The, Bank of France rate -waa : from 3£ to 3 per cent, on January 23, 19C0, j and remains at the latter figure. 1

Tho Imperial Bank of Germany, on September ,20, advanced i!s rate bf discount from 5$ to 4,.per-cenv., and on Octobcr 11' to S psr cent.,"lowered same on January 21 to per cent.,* and on February 10 to 4 per ccnt. MARKET BATES OF DISCOUNT. . The following show the current market rates for best three months bills:— London Paris Berlin Rate. Rate. Rate. Per Per. Per. *' - ■" . cent. / cent. cent. February 16 23-15 22' . hast:week/. 2J ' • 2g '22 •- Last, year :v ' Zh 1 23. ' Start ioan3 arc quoted in London "at 18 per ,ccnt., as against 13 per cent." last ( week., '• , COLONIAJi' AN I) OTHER' PIIOgUOE Wheat.—The markets aro depressed, and buyers are indisposed to operate, even at a reduction. The present lovol is'.far too high, in view of tha probable continuance of large • shipments of Australian cargoes. January-February sold at'39s. Holders are fairly steady, and aro asking 40s. Victorian and South Australian ste3iner r»hipracnts UTanuary) ■ brought 395. 9d.; • £ebru. ary-Marcfy 395. 64.; Australian sailors, I)e----comber-January, 395.; Australian on spot, 445. 3d. .........

Flour.—The market is dull. Australian patents are . nominally at 31s.''6dV ; ' Oats—A. quiet market. ■ % • _liutter.—An easier market. Danish is at to 1255. Australian is clearing veil, Choicest is at U4s. to 1165.;'-secondaries are scarce at 1125.; unsalted, : There ijj less demand for New Zealand choicest at 116s. to 118s.; secondaries, 113s. to Ills.; best, •milled, 108s. to 110s. choicest is at 116s. Ghqeae.-rThe market- is steady, and. New Zealand sorts are unchanged. Supar.—German beet, 86dcg., 13s. 3d. per 'cwt.; flrst-mark ; grauulated, f.0.b., Hamburg, "i• - - 1 - . Kauri Gum.—At the sales 252 cases were offered, and only nine. 3old. Bradford Tops.—The market is firm, and prices are- unchanged.. THE METAL MAKKETS. Copper.—On,.'sßOt,'-;ls.:'Jcl.'lower..'at £59 Is. w. per ton; three months, Is. 3d. lower, at $59 l? 3. '6d.' ■ ' ' ,• ' ! Tim—Oil' spot, 153. higher, at £152 2s. 6d. .gsr, toil; three months.' ffls. higher, at £153 Lead is 3s. 9d. lower, at £13 ss. per ton. •Pig-iron, Bd. lower, at 51s! 3d. per ton. Silver.—Bar -silver-is " nuoted at 24 l-16d. per ounce standard.. v , 'i ■ \ : FROZEN MEAT. By Teleirraph—Press Association—CopyrlahL , (Bee. Februarys, 5 p.m.) London, February 19. The Frozen Meat ~Tyada. Association's Smithfield market 'for the''undermentioned classes of frozen meat are based on actual sales of not less than ono hundred carcasscs 'of mutton or lamb; and twenty-flvo quarters of beef of fair average, quality. Tho quotations aro not lor. selected lines, but for parcels fairly representative of tho bulk of the shipments now on tho market. Tho prices which follow aro on an averase a farthing per Jb. m'oro than the! valiio ox ship, this difference,, representing an average cost : in expenses, - handling, conveyance, and selling the meat':—'. '

. . ...1, . BABBITS. ,i ./ : Babbits • are,j scarce. - Colonial have advanced a further 6d., - and show a hardening tendency. February shipments - are pggt efl,'ay.jSs.. below current. rates.

• V. : " : ' - Variations •• • '/ • compared' ; . PlIca . with ■ • ' : • - . •. • • last week. r' •- •; ' ■ >.£ S, d. •; ' ,• 2s% Imperial Consols 82 .0,0 . :■ Gs.lower \i M K.S.W,1933Jun.'July 107 5 1 0 . 5s,higher 03 15 6 Unchanged 3 ,;N.S.\V 4 1P35Apl.-Ocfe. 80'0 ! 0 ("Unchanged i i, Vie; 1920 Jan.-July.. 103 6 8 • Unchanged Si „ ViC. 1021-ti Jan.-July 0310 0. , 10s. hiyhor 3 Vic. 1926-49 Jan.-July .85 10 0 Unchanged 34 „S,A. 1016 Jan.-July 96 0 0 UnehangeiV 3 », S. A. 1J1G Jan.-July £4 0 0 Unolmngod 4 „Q'l'dl915-24Jan.-Jtily 103 10 0 Unchanged 35 ,,.Q'l'dl024-30Jati,.July 38 0 0 Unchanged ' 0 „QTdl022.47Jan.iTuly 30 10 0 . Unchanged 4 „ N.55.1920 May-Nov. 10ti 0 0 10s. higher 3$ „N.Z. 1940 Jan.-July US 1U 0 • Unchanged 3 • „ N.2.391f» April-Oefc. £8 0 0 10s. hiyhor 3-J „ W.A.192W0May-Nov >98 10 0' : UnchAngcd ! t „ W.A,1915-35May-Nov #3 10 0 Unchanged : „.Tag. IMOJan.-July 97 10 0 I : "chnw{cd - 3 „ Tag. 102CMQ Jan.-July 8(3 10 0 ;0:. Ivghcr

''' ' 1'eb. 12. Feb. 19. glutton— • ' 1 d. ■ d. Canterbury,• light . Canterbury, medium — ' Canterbury, heavy ..... — , „ Southland 33 33 ' . North Island, best 35 33 North Island, ordinary ... — - _ . Australian,-light 33-16 33-16 1.. Australian, lioiivy ; . 3j 31 • Ri\'er .Plate, light 3$ ,, ■ 31 ' Bivei;Plato,; heavy 37-15 • 37.16 Lambr-. ... , ; ;ii . • Canterbury, light .'. — 5J Oariterbur,. medium .: — 54 •*. Canterbury, heavy;— ' 51 Southland ..: — — ,■ "North Island, selected......... 5A 5S- . North Island, .ordinary ,.. '■ ., 41 • .Australian, l)C3t : ...... 4 4; Australian,, fair:' 35. ... 4 Australian, inferior 3i 35 * .: IJiver Plate 33 4 Beef- . ..." New Zealand, - ox fores'... 25 '2? New Zealand, oi. hinds 31 ■ 35 : . Australian, ox fores' .... 23 '< 29 Australian; ox hinds •; :. in ... n-ij. - Bivor Plate," 01 foi'bs ......... 27-16. 23... ■ Kivor ;l'late,' ox hinds :.... 3j . ., 3 3-16