COMMERCIAL ITEMS.

Dominion, Volume 3, Issue 884, 2 August 1910, Page 8

COMMERCIAL ITEMS.

INVESTMENT SHAKES. Yesterday there were transactions in Gear Meat shares, il'paid, at £2 14s. 6d., and Heat Esport, £2 12s. 6d. paid, at £3 7s. 6d. Tho market was without change. Buyers. Sellers. Sales. £s. d. £s. d. £ s.d . Bank N.Z - 11 0 0. . - National Bank .... — 610 — Equitable Building 910 0 - . —. Metropolitan 12 0 0 —. — Wellington Invest. 011 0» -f , — Well'g'tn Deposit... 0 8 3 0 9 0 - - N.Z. Loan and Mercantile ■ — 012 6 , — Feilding Gas ;....-.... - 12 0 - Wel'g'ton Gas (£10) 18 -0 0* — .- — • Wellington Gas (£6 - ■ ■ 155.) 13 .76', - ' - ' National Insurance.'■'■ — 112 0 — N.Z. Ineuranco 4 0.0:4 1,0 '-.'■ — Christchurch Meat 13-2 6 ■—:.■■' — .Gear Meat (£4).;.. 10 50-- —•• ..-., Geai' Meat'(£l) :•..;.'2 14 3 —•:2 14 °. Meat Export (£5) .. 6 0 0 - ■ —'. Meat Export (£4) ..5 0 0 - - Meat Export, (£2l2s: '■•'■" ■ 6d.) -..!. -3 II ill" 3 7.-6 W'gt'n Woollen (ord.) 3'.5 0 —■•.— .. Kauri Timber U5s:K 017 0 — - — Leyland-O'Brien ...1661:76, .. —.. N.Z. Paper Mills...';l 2 3 — ..'- Sharlancl's pref. ...'llO -'■ " Taranaki Petroleum 0 8 0 0 11,0 — Tariugamutu Totara 18 0 —: •• — Ward and Co. ..:..:. 419 p —■■• :_■■■ — ' •Ex

.NATIONAL BAJrK OF NEW ZEAIiANt). ■The report of V the National Bank of New Zealand, Ltd.,' for tho year to Marcn 41 last, suites that tho net profit, after providing for bad and doubtful debts and in eluding £13,035' brought forward, , amounts to £105,909. The-interim, dividend at the rate of 10 per cent.'-per annum, paid in January list, absorbed The sum of* £10,000' has been placed to prenuseß-ac-count, and £7500 set aside as a reserve for depreciation on ■■ investments.. leaviJß now available i for distribution £69,659, Iwliicli the directors propose to follows :-Xn payment "of a dividend at the rate" of 14 per cent. i«r annum for the. I half-year ended March 31 'last, .making, with the iulerm dividend,- 12 per cent, for the year,. £26,250; to reserve fund. £22,500; to officers, , pension. fund, £3000; and balance to tho carried forward. £17,,909./ In March, last 50,000.'n0w shares were offered to shareholders at a premium of £1 ss. per sliaro in the proportion of one share for every three shares held. Tho new, shares have been . allotted, and will rank for dividend as from October 1 next, and the premium, amounting.,t<; £62,500, will be carried to reserve fund, which will then stand at £460,000. . .-'; .'.' ■ ' A'DENIAIi. , • Eespecting the rumour of amalgamation between the Phoenix and Atlas Assurance Oompanies, reported in yesterday a Dominion, the London "Times" of June 22 states'—"The' Atlas Assurance Co. desire it to be known that there, is.absolutely no 'foundation for, the statement that amalgamation with any other company is under consideration., There is.no negotiation pending, suggested, or in contemplation for .such a purpose. ■' ': THE COTTON MAHKET. The formation of an International Ootton Mills .Corporation,:with-a capital 0f.£4,000,000, reportod'-'froin Now York is of somo significance. ; Cotton, is likely to, :•■ bo . inample BUpply.sin the coming-season, and tho United States promise.a crop of 13,000,000 bales which, with increases from other, sources, syill be ample to meet the world's requirements. With respect to the outlook of the cotton industry in Lancashire, "The Statist," in a. special article, states that rarely: has the'cotton tntdo . outlook in England-been more promising, and in tho cotton season 1910-11, which will begin In October, Lancashire is very lkely to break all rccorde from every point of view;: "Its production of.cotton goods will probably, dwarf .-any figure hitherto touoheil, ihe profits earned by-spinning and weaving ' companies are likely to-be exceediugl) great, a greater number of persons 'will be employed in the trade .than ever before, and tho. level of, wages maj bit-on itho highest'■ scale yet toucheu. .This promising outlook arises from a'rcom-, biuation-'.of events, pattly temporary, and' partly permanent.- The first factor making for 'expansion of the cotton trade is tho. shortage of cotton goods;'; at the present time, which has resulted from the deficient': supplies '.of the raw material of the;pa'st*-,season and the need both of traders and "consumers to replenish their , stocks of cotton cloth. A second factor, of a" more permanent character, making, for expansion, is the ability of the countries which are large consumers of cotton cloth to purchase unprecedented. quantities of cotton goods, in consequence of the; ■very large amounts of capital which this cbuntryftis now supplying them for the extension of their' railways and tho development of their- natural resources. . Ex-perience-has again and y again shown that the cotton trade is most active in periods of the free investment - of British capital in other lands—and never has the invest- ■ ment of British capital abroad been on so great a'scale as , at present. A.third and lasting factor in the situation'is the increasing productiveness, .of tho cotion-coti-suming .'countries and their : expanding .ability'to purchase cotton goods by export-' I ing larger quantities of their. Own", pro:. ducc. ■ There*is a fourth factor making, for expansion of very great importance. •In recent years • Lancashire has built, a, great many new mills,/and has provided the machinery with which to manufacture vastly increased quantities of goods, and this increased capacity, is now available for supplying .the .much larger quantities of cotton goods which other countries' are now, in ;a position to .buy. .' .. '■ ;.'-.-. , GOLD AND 'SILVEE EXPOETS; The following return shows the quantity nnd value of gold and silver exported from the several ports of New Zealand during the', months of July, 1909 and 1910, and for tho first seven months of .those years:—' .-■-.■ Gold. •" '.. . - ' , . July, 1910. >: 'July, 19091 ■ ' . • . Oz. , £ . Oz. . £ Auckland ... 37,606 149,292 37,497 150.967 kelson '■■ ...... —■'—•' • 231 . ! 925 Greymoiith 5,240 .20,326 4,540,17,592 Hokitilca ... —-.—■• 845 3,379 Duncdin ... 8,667 35,197 8,848 35,915 Invercargill 2,652 10,602 1,749 .6.997 .■'..;•- ■■:•':'- 54,165 215,417. . 53,710 215,775 Increase for. July, 1910, 4550z. •'' • r'i ■ i ' ■• Silver., ; ' ,- . July, 1910.'. .July, 1909. 88,5030z., value £8,977 120,1060z| value £12,001 .Decrease for"'July, 1910:'. 31,6030z., £3024. Seven ifonthe Ended July 31, 1910 and 1909. : ■■..' ' 1910. ' ' .' ' 1909. ; ''"• Gold: 278.7440Z.,£1,104,104 292,0030z.,£1,163,146 Silver: 993,7890z., £99,643; 1,024,0340z., £102,138 Decrease for Eeven months, in gold: 13,2590z., £59,042.' : ■ . ■ • • '■• ■: Decrease for seven months, in silver: 30,2450z.. £2495. . " ... ■'• . • ■ -. •• ,-■:'-. •' CUSTOMS EBTENHB. ■ Oustoma revenue collected at Wellington yesterday, amounted' to £4028 IBs. 9d. ■ 'COLONIAL AND OTHEE PEODTTOE. , Cy Tclegriiph— Press Association—Oopyright. .''"'.' ". London, July 30. Wheat—Two Australian cargoes ■ sold at 38s. 6d. and. 37b.. 9d. respectively.. Fourteen thousand quarters of; South-'Australian and Victorian , January-February shipment sold at 37s'. 3d. , •> .'■' '..'-. Copra.—The market is active..' South Sea, in bags, £22 17s. 6d. ' Rubber/, Bs. 4d. ■ per lb. Hcmp.-rMarliet dull, with an easier tendency.. ' \ . TEE 'METAL MAEKETS. . '.- By Telegraph—Press Association—Copyright . London, July 30. Copper.-On tho spot, £55. 10s.; three months, £56 3s. 9d. ■ Tin.-On'tho spot, £149 65.; three months, £150 ss. . Lead, £12 10s. . .- ■ HIGH OOMMISSIONEH'S.. OABLE. . The Commerce and Tourists Division of tho Department of Agriculture, Commerce, and Tourists, has. received tho following cablegram, from , tho ■ High Commissioner, dated London' July 30:—',' .. . ; ; ■ . ■ Mutton.—Tho market is weak, although tho supply is moderate.. There is.a poor local demand. Average price to-day: Canterbury, 3gd.; North Island, 3Jd. per lb. Lamb—The market is steady, and there is a. better' demand. Holders are less anxious to sell. Canterbury,, 4Jd.; other than Canterbury, 4Jd. per lb. Beef.-Thero is a better .demand for beef, and the market is firm, with a hardening tendency. The supplies of. chilled beef arc small. Now Zealand hinds today, 3Jd.; fores, 22d. per lb. Butter.—The market is quiet, but steady. A good ■ demand continues for beet quality. New Zealand supplies are practically exhausted. The butter prospects for next scasou arc encouraging. Danish. 1145.; Siberian, 100s. per cwt. . . Cheese.—The market is steady, with on improved demand. White, 575.; coloured, 555. lier cwt. . ■ . .Hemp.—The market is dull and declining, and a poor business,has been done. New Zealand good fair on spot per ton, £24; fair grade, £21 10s.; fair current Manila, £20 - 10s.; forward shipment, New Zealand good fair per ton, £23 10s.; fair j grade, £21; fair current Manila', £20 10s. The output , for tho week from Manila-was 25,000- bales. Kauri Gum—Market firm, with moro inquiry. Ordinary to fail , three-quarter scraped, £8 10s.; fair half-scaped, £5 2s. 6(1.; brown fair half to three-quarter scraped, 905.;-brown pickings, common to good, 455. Wheat.—Tho market is firmer, owing to I the wot season. New Zealand long berried .wheat nn soot, ox ETanary, peromuttor of

4961b.. 345. 6d.; New Zealand short berried, 33e. 6d. Oats.—Tho market is very. quiet. New Zealand oats, short: (Sparrowbills), -ox granary, on Spot, per quarter of 3841b.. 18s.; Now Zealand oats, Danish, ox granary on spot, per quarter of 3201b., 16s. 6d. Beans.—The market is'quiet, but steady. New Zealand beans f.a.Q. (new crop), per 5041b., 355. ' . " ' ' Peas—The market is weaker, and large supplies are coming forward.' New Zealand peas (partridge), for 5041b., 445. Cocksfoot Seed.-The market is depressed, and buyers are not keen to do business. Average price, bright clean, New Zealand cocksfoot seed,' weight 171b. per bushel, on spot per cwt., 635. Wool.—The market remains firm. Itivcr Plate shipments received during July, 1910:Mutton. Lamb. ' Liverpool .'.... 101,854 20,806 . London - 83,676 „ 14,366 ' Hull 14,593 303 ■ Newcastle ..12,739 1,049-) • Southampton 7,953 7,886 , . Cardiff 14,196 2,331 ■ Plymouth '. '. ' 81 - - .';,. Ireland 1,936 ' - 237,028 46,741