COMMERCIAL ITEMS.

Dominion, Volume 3, Issue 815, 12 May 1910, Page 8

COMMERCIAL ITEMS.

INVESTMENT- SHAKES. 1 Sales ef-National Banks at £5 155., D.LO. preference at) £1 25., and Taranaki Petroleum at 135.. 6d. were recorded, yesterday. Bank of New Zealand, buyers £9 .195.; Equitable Building, buyers £9 45.; Wellington Trust-and Loan, buyers £7.-2s. 6d.; Wellington-Deposit, buyers. 7s'. 9d.; Christchurch Meat,.£ll'l3s.j Wellington Meat Export, third issue, buyers-£2 14s:;.N".Z. Shipping, buyers £7 195.; 'Union Steam, buyers .£1 123.; Wellington Woollen, sellers <£3 ss:; Westport Coal, .buyers'£6 6s. 6d., sellers £6 Bs. Cd.; D.1.C., preference, buyers £1 25.; Leyland-O'Brien Timber, sellers; £1 4s. -Gd.; Sharland's ordinary and preference, sellers £1 Zs.; Taranaki Petroleum, buyers 135., sellers 13s.' 9d;; Ward and Co., brewery shares, sellers £4.175. . 6d. , , -■ THE NEW ZEALAND LOAN. The prospectus of "the issue of £1,850,000 Now Zealand Government. three-and-a-half per cent, five-year ' convertible.' debentures, as published in the London papers, is now to. hand. ■ The bonds wore offered at the price of £98-10s. per cent., and allowing for the fact that three months' interest-is payable on' July' 1, whilu the payments are spread over the intervening period, the yield is about £3 Us. per cent. The bonds arc .also convertible before April 1, 1914, into New Zealand l\ percent.inscribed stock at the rate of £102 of-stock for every £ICO of scrip, and if the conversion be carried through beforo June 1 next, allottees.' will receive a full', six months' interest. On this basis the inscribed stock would cost' the 'subscriber just under £96 10s. per cent. According to the "Financial Times.", of the proceeds of the issue £1,500,000' is to be used for the repayment of debentures .previously issued for the construction • of roads, bridges, and other public works.... ,

E. BELL AND COMPANY, LTD. At the , annual , meeting of shareholders of the above-'company. licld at, the Cannon Street notel, London, on March 31, the chairman stated that after writing oft £4314 for depreciation of plant, the- nrofit

on the Tear's trading was £19,574 odd, which added to the amount brought forward from last year- of '£3236, made a total of £22.810, but of that it was proposed to transfer, £7000 to tho reserve fund, and to carry forward £9164, afterpaying a dividend at. the rate of 8 per cent. He proceeded to refer to a. recent a-rrangoment with Bryant and May, Ltd., whereby the two firms had agreed to amalgamate their businesses in Australia and Now Zealand, under the title of "Bryant and May, Bell and Co. Proprietary, Ltd." Tho two firms had come to the conclusion that it was far better to come to this arrangement than to start opposition- factories. It is understood that the new concern is about to engage in the manufacture of wood matches' at its factory near. Newtown. PHOENIX ASSURANCE. The report for 1909 of the Phoenix Assurance Co., Ltd., states that in the flw department the premiums amounted to £1,386,645 net. Claims amounted to 50.8 per cent., and expenses to 37.6 per cent, of the premiums, together absorbing £1,226,063. Inclusive of interest on-the fire- funds, a sum of £209,102 -has been- carried to tho credit of profit and'loss.' In the accident department- the premiums received were £55,573, the claims £23,592/ and tho ex-. penses-£19.295.- Tile profit realised has ieen retained in the fund. • Tho . amount ,of new -life ■ business has been 'well maintained at £1,120,906/ of which £313,450 was reassured with ■ other companies, and . tho life funds wore increased by £210,036 to a total-of £5:561,686, The balance of. profit and loss, after crediting. £209,102 from the fire account-and.£21,469. interest .not carried to other accounts, was £378,415. Out of this-bala-ncc .the :dire»tors,have, set aside £100 000 as an addition to the .fire reserve, thus increasing :tho-latter to:£800,000 and til" total fire fund to £1,450,000. A final dividend in respect of the year 1909 of 18s. per share, free of income-tax, is recommended. This dividend, with the interim payment of 12s. per share made last October, will make a total payment of 30s. per share in respect of '1909. The total funds of the company, with, the transferred funds of the Law Life Assurance Society, exceed £13,000,000. IT ■ ■ CUSTOMS REVENUE. Customs revenue collected at Wellington yesterday amounted to £10t0 13s.- 3d.< . WELLINGTON MAEKET BEPOET. Messrs. Laery and Co., Ltd.,. Wellington, report wholesale prices ruling on the , market t-Whcat. fowl, 3s. 9d. to 4s. Id.; feed oats 2s. Bd. to 2s. 10d.; dun oats, 2s. 9d ■ seed oats,' 2s. 9d. to 35.; Algerian oats, 2s. 9d. to 35.; maize. 3s. 7d. to 3s. 9d.; crushed malt, 75.; fowl barley, 2s. 9d.;Cape barley seed, 35.; flour, New Zealand £10 15s. to £11 55.; Australian, £11; peas, Prussian blue 6s. 3d., split £19 10s.; bonedust, £5 155.; superphosphates, £5 to £5 55.; pollard, £5 55.; bran,' £4 to £4 -5s- pearl barley, 155.; basic slag, £4 10s.; chaff (oatensheaf), £4' 15s. to £5 55.; oatmeal, £12 10s.; potatoes, table, £5 to £6 ton; onions, 3s. 6d. to 4s. 6d. cwt.; molasses fodder £5; baton (factory), sides7Jd., hams9d., rolls Bd.; butter,'prime bulk. 9d to 9id. Poultry, hens', 35.; ducks. 3s.' 6d. t6 4s. 6d. per pair; turkeys, gobblers- 18s. to-.205., hens 10s. to Us.; fresn cgss. 2s. to 2s. 3d.; preserved eggs. Is. sd. dozen; cheese, 53d. per lb.; Akarpa machine-dTesscd cocksfoot,' fid.' to' 7d.-pcr ■ lb.;' farmers' dressed cocksfoot. 4d. to-sd..por lb.; ryegrass 3s. 6d. to 4s. 6d. -per bushel; Italian' ryegrass, 3s.' 6d; to''4s. 6d.' per bushel; white clover, 70s. to 755. per cwt. ■ ' • ' ' ' LONDON WOOL SALES. London, May 10. There was an animated sale. Prices for all sorts were unchanged. 11, 10 p.m.) Londori, May 11. . At the wool sales, the HoUoroa clip sold up tolO&d. and averaged 10d.; ES over T sold up to 14d. and averaged 103 d. SHAKE QUOTATIONS. By' Telegraph,—Press Association—Copyright London, May 10. Australian Mortgages Company's stock is quoted at 102, Dalgety and .Co. a at 100. . SILVEK. By Teleeraph—press Association-Oopyrlcnt. London, May 10. ..- Bar silver is quoted at 24 13-16 d. per ounce standard. , ' * ■ , PEIOES OP METALS. '■ Uy Telegraph—Prc93 Association—Oopyricht;, " '•" (Eec.\Hay'-ll,'lb i ;■ '■ !' .'• London,' May 11. ■' ' Copper-On the spot, £56 13s v 9d.; three months, £57 12s. 6d.; electrolytic,-. £58 10s. Tin—On the spot, £150; three months, £151 10s. per ton. Lead, £12 10s. per ton. .... ■'; ' GEAIN MAEKET. (By Teleirranh—Press , Association.) ■ •:■■.- . Dunodin, May 11. Tho demand. for wheat is exceedingly limited, owing to tho reluctanco of millers to operate in the face of tho stagnant condition of the-Home market. . At tho samo time it is believed that there does not appear to bo any justification for despon-dency-as to the future .course of the market. Quotations (nominal) are-.-Prime milling, 35.-lOtl. to 3s. lid.; medium to good, 3s. 7d. to 3s. 9d.; good to best fowl wheat, 3s. 3d. to ,3s. 5d.; medium, 3s. to 3s. 2d. .- Oats—Owing to the limited quantity offering and the fair demand, the market continues firm,' and there is. no difficulty in placing all'consignments ■ coming to hand." Prime milling, Is. UJd. to 25.; good to best feed, Is. 10d. to Is. lid.; inferior to medium, Is. 6d. to Is. 9d. . - . ■':..■