COMMERCIAL ITEMS.

Dominion, Volume 3, Issue 850, 23 June 1910, Page 10

COMMERCIAL ITEMS.

investment shaees.

Sales of Wellington Trust and Loan at £7 Bs.; Wellington Woollen, ordinary, at £3 55.; preference, at £2 10s.; and Taranaki Petroleum at 13s. were recorded yesterday. National Bank, buyers £6; Bank of New Zealand, buyers £10, sellers £10 55.; Equitable Building, buyers £9 7s. 6d.j Metropolitan Building,, buyers £12; Wellington Investment, buyers lis. 3d.: Wellington Trust and Loan, buyers £7 Bs.; Wellington Deposit, buyers Bs. 3d.; National Mortgage, buyers £3 4s. 6d.; New Zealand and Bivcr Plato, buyers £2; Feilding Gas. buyers £1 Is., sellers £1 2s. 6d.; Welling-ton-Gas, £10 paid, buyers £18-55., sellers £18 12s. 6d.; £0 15s. paid, buyers £13 Bs., sellers £13 155.; National Insurance,* buyers. £1 95.; South British , Insurance, buyors £3 2s. 6d.; Standard Insurance, buyers £1 45.; Ohrisfchureh Meat, buyers £13; Gear Meat, £4 paid, buyers £10; £1 paid, buyers £2 135.; Meat Export, buyers £6, £5.', and £2 17s 6d. for tho respective issues; Now Zealand Shipping, buyers £8 2s. 6d.; Wellington Woollen, ordinary, buyers, £3 4s. 6d.; preference, sellers £2 10s.; Hikurangi Coal, ' buyers £1; Westport Coal, buyers £f. 10s.; Leyland-O'Brien Timber; buyers £1 55.; Manning and Co., buycr= ■ £4; Now Zealand Drug, buyers £2 Bs. Gd.; Taranaki Petroleum, buyers 125., sellers, 135.; Ward and Co.. buyers £4 18s. 6(1.

LONDON WOOL SALES. Writing with respect to the April-May series of colonial wool sales, Messrs. Henry P. Hushes and Sons furnish the following figures :— Net avail- cata- rield able logued . over Bates. Bales. Bales. New South Wales 9,380 15,086 1,000 Queensland ..:.. .-. 10.751 11.341 ICO Victorian 17,391 13,261 2,700 S. Australian -.. 4,998 7,609 200 W. Australian 6,342 6,524 - Tasmanian -. 6.064 5,234 1,000 Now Zealand 108,997 94,676 20,000 .Capo 7.979 7.001 600 171,902 160,732 25,500 Writing with respect to crossbrods, the firm say:—"ln regard to crossbreds, now that the greater portion of the Now Zealand clip has chunked hands, without any material fall in prices, the outlook is more favourable than it was a few weeks ago. Arrivals for some months past havo beeji very heavy, and, owing to the intervention of the Whitsnn holidays, it was necessary to make the interval between the second and third series shorter than usual. It speaks well for the soundness of the trade that buyers, besides having to take up heavy direct shipments, have so soon been able to buy the bulk of the wools available for these sales without dilliculty. It is an undoubted faet that all the mills in this country are fully em-, ployed, and the general opinion is that, should the prir-ent- activity continue, the trade will be faced with short supplioß later in the year."

NATIONAL BANK DIVIDEND.. The general manager of the National Bank of New Zealand, Ltd., has received a cable message from his London board advising the declaration of a dividend of 7 per cent for the half-year on the paid-up capital of £375,000, which, with 5 per cent, interim dividend paid in January last; makes'l2'per cent, for the year to March 31, 1910. The sum of £22,500 has been added to the reserve fund, which will then stand at £397,500,. and £17,909 carried forward. The directors have further allocated £10,. 000 in reduction of bank premises account, end £3000 to tho officers' pension fund. The annual meeting of tho bank will bo hahl w London-on July 5,

SUN HUE OFFICE. . Tho Sun Insurance office lias been in existence for two centuries, arid can claim that, the whole two hundred years ha* been an unbroken record of good management and success. In 1909, the last year of tho period, the not premiums wero J81.478.000. Firo. losses took only 46 per cent, of this, and tho total working expenses took less than 37 per.cent., so that a very large surplus remained. After making ample provision for unexpired risk there remained a puro trading profit of £241,696, to which was added £67,786 of interest, the contribution to profit and loss being thus the large sum of £309,484. The Sun, being one of the strong offices, set aside in all its departments the full 40 per cent, of the premiums which should be kept in lia.nd by every company after the first few years and. on this basis, tne several accident and burglary accounts showed a small surplus, which will be increased in future years as the business develops.

LINSEED OIL. SHORTAGE. - Commenting upon the recent strong advance in linseed oil, the "Oil Trade Heview," dated London, May 7, states that, whereas on January 1,- linseed oil in pipes and barrels on spot stood-at £31 10s. and £31 15s„ the value at the time of writ-' ing stood at £37 and £37 10s., after having touched over £41 in April. In tho first three months of the present . year, tho imports of linseed into the United King-, dom amounted to 268.306 qrs.. against 497.972 tirs., for tho corresponding period last year, and 441,062 qrs. in 1908. Therefore, tho value was about £14, per ton more-than at the end of last summer, and, as was apparent in the serious falling-off in arrivals, the statistical position was one of unusual strength. Latterly, with the increased shipments from producing countries, prices had declined somewhat. It was urged that with prices so high consumers would resort to obtain substitutes, and only the smallest stockß of finished . products containing linseed oil were being carried, in consequence of the stiff prices. It had been unfortunate that the Argentine crop turned out short of expectations, especially, too, as the United States had been a large importer of linseed from that quarter. A considerable quantity had already, been shipped to tho United States, and the total shipments from the Argentine to all parts revealed an Important deficiency compared with last year.- There.was a strong local demand in the United States, and, as reserve stocks had been freely drawn upon, while supplies in both crushers and consumer's' hands wore' below the normal, recourse had to be made to Calcutta to fill wants, which circumstance had imparted decided 'strength to tho market. . The future position promised the continuance of extremo rates, especially as the supply was inadequate for requirements; but, as the unexpected sometimes happened, it might bo unwise to speculate with too much confidence upon coming events.

PRODUCE EXPORTS. The values of the principal products passed through the Customs for export from New Zealand during tho period Juno 1 to 15 (half month) arc as under:— - £ Butter 2,686 Cheese,; ............. •'—— 411,733 ■ Beef • • 80.808 Mutton ; 36,375 Legs and pieces 5,756 Lamb :....: '.. 202,836 " Wheat .'..— 9,160 Oats '. 1.012 Potatoes .;.-. - ■ 55 Hemp ...:.._ 29,186 Rabbits '. -1,655 Tow 2,801 , Kauri gum ' 25.JC0 Grain and pulse 9,615 Hops 979 Hides 20.186 Skins : 67,964 Tallow 71,993 Timber 17,888 Wool ...; :... i..- 205,487 Gold : - :.: 64,255 949,578 Tho exports for the full month of June, 1909. amounted to £1,376.771: if the exports for the second half of this month are anywhere near co.ual in value to the above, the record for the moilth will bo a handsome one. , OUSTOMS REVENUE.' Customs revenue collected at Wellington yesterday amounted to £1295 19s. Zd. THE METAL MARKETS. By Telegraph—Press Association—Copyright. Rec. Julie 22, 9.25 p.m.) ' ' ■■' London, Juno 22. Copper is quoted, on spot, at £55 2s. 6d. per ton; three months, £55-17s. 6d. Electrolytic, £58, ss.- per ton. ■■• ' Tin.—On 6pot,' £148 10s.; three months, £149 ss. per ton. WHEAT ADVANCES By Toleirraph—Press association—Gosyrlsht (Rec. Juno 22, 10.10 p.m.) -Now York, June 22. ' A further advance''' in wheat' has' occurred at Chicago. GOLDSBROTJGH, MORT AND CO. By Telegraph—Press Association—Copyright London, June 21. Goldsbrough, Mort and Co.'s "B" debenture stock is quoted at 94.