COMMERCIAL ITEMS.

Dominion, Volume 3, Issue 891, 10 August 1910, Page 10

COMMERCIAL ITEMS.

::i k "?.•; '■■. r SHARES... ; , J.. :. .' Salesiof iJFeilding. Gas at\&iVle.'9dV.'and ilfarks .TurliihS-ai -j;iivlls.' , Vv,(iru- icionLu yesterday. .■ Yesterday's quotations were as, under:— : ''.■"' i ■ Buyers. 'Sellers.' Salea.: '■ • . . £B.d..■■ £3. d. £8. d Bank N.Z. ...:.........; —r. 11 0 0 —. National Bank ~:... ; - .600 - Equitable Building !9''U--0 i'r '■'- Metropolitan ......... 'r- - N.Z. Loan and Mer-'- ■ '■■■.;' •cantilo • —. --.0 11 6 — W'gt'n. Investment 011 0■: — — W'gt'n Trust, and': ./'..: • • . - ■•Loan ....■...'...........'.7 9 0..;:—". ' -^ ■Wellington Deposit ,3- 0"9 0' — Ohristehurch Gas-.-.:. —... .10-0 0 — . Peilding Gas 116 - 119 Wel'gt'n Gaa (£10) 18 - • - Wellington Gae OE6 ' - 155.) .: .....:....'.. 13 10 0 .:'- ' - Wellington Gas (new ~■• .. issue),' pre'm. ::.... 2 5 '5 ' 2 6 6 £-■ National Insurance 111 , 6 112 0 — N.Z. Insurance' ... 319 0 — — Gear Meat (£4) ... 10'5,0! -.. • — Gear, Meat (£1) "... 2146 '— . .-. . Meat Export (£4) ... i 5 10 Q • — ' Meat Export (£2l2s. " ' . ••6d.) ....: •_■ -3 8 6 - ' Wei. Woollen-(ord.) -3 7 0 A — — W'gt'n Woollen (pr:) 215 0' - •. Taupiri Coal — 10 9 — Leyland-O'Brien ... 16 6 1;'7 ; 6. '- Marks Turbine ..... 2 ,9 70:. 210 6 210 0 N.Z. Paper Mills... 1 ?'•'■—' - Siiarland's.pref. ■•'..'.' 11 0 — —> Taranaki Petroleum ■ —i t.Oll 0 — Taringamutu Totara 1 JO "- ' — Ward and 00. •. 5 4 6 510 0 -

.''■ A BIG INDTJSTEIAL - ENTEEPEISE. It' : is ,a,'ldriß:''ijme .since .a£big .profitable} and.-well-establißlitd industriaiyenterprise! 'lias" been .'c-ffered^tb l . investors-as "a joint stock venture, and the prospectus of the Bowron Bros.' Export and Trading Company, Ltd., which appears in this journal to-day, will be read with interest. The capital of the company i 3 £175,000, divided into 25;009 of 5 per cent, non-cumulative preference shares, and 150,001) ordinary I shares of £1 each. Only 100,000 of ordinary shares vara offered for pablic subscription, payable; ss. pnv;application', ss. on;allot ment.Vaud th'oviremaindei; within" two months; 15,000;'preference'shares arid- 35,000 ordinary shares'Vgo 'to tfie , vendors'/ and 10,000 pTeferenco ■shares-- 4 :and - ; : -15,000 ordinary''shari!s afe"held'"in""'rcserve for fu-' _turo. issue.y T,he.company,ri^..being formed .;to,.acquirp;.as.,a;gpijig, concern^the . business of Bowron Bros, and Co., Limited, now being carried on at^Christchurch, .Auckland, Wellington, Dunedin, and Palmerstin North, including the freehold and leasehold premises, plant, machinery, stock-in-trade, and the benefits'of, certain valuable existing, contracts. This-lbusiness -was- 'ostablished, ! thjrt'y 'iyears ''ago, -is the largest :of -itis •iWnd.'iin ,;Australasia. The equipment is the very best, and the turnover exceeds £300,000 per annum. In the prospectus full details are given of the plant and-.-vmachinery, the certified profits, the value of the goodwill,.and the 'underwriting contrap company is ■certain of ftotatiofci ffor i9pj)Co*'shareß. , haye •bohn-underwrittcnr-aii'd of thoso' who have shared in the underwriting are given. The head office of the company, is to be in Sydney, and the head office in' New Zealand is at Christehurch, the local directors being Mr. J. Joseph, Dr. W. E. Collins, MeastsT.' Gcorge3oKrpn, and J.' J. Kinsey. Thoro is also an Australian Board. •

- In its normal capacity tho tannery ranks as the largest in Australasia in its collective capacity, but not in tho production of hides alone. The normal capacity o'fjtKo $dcs;;depart;nifint is. 1000 per week for finishing out into r all classes of sole leather, wax, lap and split, all classes of harness, saddlery and bag leather, and all classes of chrome upper and solo leather. '.■Tho capacity:'r-of;'tho,-pelt department" enables itlie" splitting of 3500 dozen pelts weekly, and in addition this department can produce a further 3000 dozen pelts, weekly without splitting, and of thcse : 3000 dozen,' 100 dozen* weekly can bo tanned into basils'.' The "Wellington brokers are Messrs. Harcourt and C 0.,, Lambton Quay. ■ ' '

GOIiDEN BAT CEMENT CO. Tho third annual report of the Golden Bay Cement Works, Limited, covering tho period to June 30, 1910, states that during tho. year under review,, the /whole."of the capital.ofctho' company was subscribed with the exception of 4151 shares, of which 500 shares are reserved for the consulting engineer under terms of tho arirangement with him: /Since.tho close , of the year' the 'balance of 'the shares havo all been allotted, so that tho company will start work with assured finance. A satisfactory contract, for the supply of cement- machinery and .erection .thereof has been let to Messrs. Ernest Newell and Co Ltd., of Gainsboro', England, and tho contract for the supply of electric plant and motive power has been let to Messrs Turnbull and -Jones, Ltd., WellinEton. Arrangements have been made with Mr. n W. Anderson, C.E., .of London, tho welliknown-. cement engineer,; to , . inspect all before''shipment. Tho first, in-', aialmenf'of machinery^has arrived in the

Dominion; 'and is now in' course- of transhipment to the works site. .The wharl is- , now well on towards completion... For some months past the has been busily engaged in preparing the site, for the erection of machinery, and povnr.il buildings have been erected. Altogether the shareholders may expect the works to bo in going order early, in the new *car. The directors are sanguine of the success of the company. The articles of association of the company are not considered to bo complete enough,'and it will be.inecei*sary to have., fresh articles drawn up, which will bo submitted to shareholders for adoption. " "■" ' ;■'■ ■'."■■• '

The total paid-up capital of the company at the date of the balance-sheet was £32,V6B. The amount of Used deposit with accrued interest is £13,408. 13s. 6d.,.- amount at credit in Bank'of New Zealand £2115 12s. 7d.; the preliminary expenses are set down at £3724 -. 10s.' 9d. The plant, m;i cliinGry, niincra.l leases, and options and freehold land aro valued at £16,133 ss. sd. The profit and loss account shows a bal--anco of £478 Os. Id. •; 'vOTJSTOiis'EEVEiSTrE. - : ■':'.'. Customs' revenue collected at Wellington yerterday,'amounted .'to', £2056 Bs.'7d. •'. TEiDE I- IN,..ALLEN., STREET,.. ... . . Togetable!!.— Supplies '-'from the" Otafci district are practically exhausted, and consignments are now coming forward from Hawko's Bay and the Wairarapa. During the past week cabbages realised as: hign as 12s. per sack, and cauliflowers were-'up to, 19s. Tho demand is excellent ,for both these lines. .■- Supplies of celery are just now being 1 received from -Australia, and realise up -to. 4s. per_ dozen heads. Tho demand for all classes, of vegetables is excellent, and- consignments are recommended. / ■Fruit—The Moana- is due from Sydney to-day with further supplies of Seville oranges, sweet oranges, mandarines, lemons, pineapples, and passion fruit. New Zealand-grown apples are in very.good demand, prime cooking sorts realising 7s. 1 63., and Stunners 6s. to Bs. Seville oranges are fetching from'4s. to ss. per case. . Mandarines are selling well, and the.demand is good. Eggs are in plentiful supply, to-day's quotations being Is. 3d. to Is. 4d. per dozen for fresh. :Butt«r—Prime bulk continues in short supply, and the.demand is good at lOd.d-o UJd. '.Cheese.—Medium size is in good request, but without any alteration in value. Honey— Good bulk is realisinn 4d. per lb. .:', Fungus.—There is' , -a very strong inquiry at 5Jd. per lb. '' ; '■'.: .- '■'. ■ •'! Poultry.—The quotations ..ruling are—live hens, 3s. 6d. to 45. ; --a. pair; cockerels, 4s. to 55.; ducks, ss. 6d. to-to. 6d.;''turkey gobblers, 9d. to 10d. per. .lb., .hens 7d.. to Bd. .per lb. live weight. . ... ''.' .'". Maize—The low prices now'ruling '-baa stimulated the domand.. Baled Straw.—The quotation is now ss. per ton higher than last month. Bran is meeting with fair demand. . Pig-meal at £5 ss. ■ per ton, sacks in, is selling l well. Fowls' wheat ie without change. WHEAT AND FLOTJE. By Telegraph—Press Association—Copyright.' ' London, August 8 The wheat and .flour afloat for tho United Kingdom totals 2,655,000 quarters; for the Continent, 1,090,000 quarters; Atlantic shipments, ,94,000. The total shipments to Europe' during the week amounted to 1,000,000. quarters, including • 129,000 from the Argentine, 320,000 from Russia, 219.00G" from India, and 33,000 from Australasia. LONDON MINING QUOTATIONS. Bj Telesrapd-Prew issociation—Oopyrteht London, August 8. Stock - Exchange Quotations . include the following:—Waihi Goldmining, buyers 1605., sellers 1625. "6d.;' Grand-Junction, , buyers 38s. Id., sellers 395 , . ,4d.

WELLINGTON MEAT COMPANY. EXPANDING EXPORTS. ■ ■ raosPEEoirs yeab. . Tho. twenty-first annual meeting of the" Wellington -Meat Export, .Company was held in the Chamber of Commerce Buildings yesterday, Mr. W,. G. Foster (manag-. ing director) presiding. '' .:'/ In moping the adoption of the report and balance-sheet tho chairman said, that.' tho directors had no. hesitation, in view of the satisfactory output for tho making their recommendations as to tho appropriation of,profits. With a business having such heavy attendant risks 'there could be no question as to tho necessity for strengthening capital by establishing, and increasing' reserves whilst, at : ; the same time, paying, the present'dividend and bonus,, which, latter brought the , distribution of profits to B'per cent. , per'-ail-'' num over of sixteen years.'' This result, it must be,'admitted, was 'satisfactory.. . . . , ' It should not'be forgotten, however, that this return might, and in. fact was, regarded by the producer as too high was consequently the cause of some discontent, and was a factor in the hands of the promoters -of. new. companies. . Besides the ordinary trading risk's, thefb was the fact that, in these days of rapid progress and inventions, processes and plants were being superseded, by newer and , , more econo-, mical methods, and it'was 'against : all these contingencies and. against, the. .possibility .of' Keener competition that the resources, of tlio company should be strengthened .the same time," provision made for-'.-tho.'special dividend reserve. Shareholders should not forget last.year's disappointment, and no doubt fully appreciated and approved tho course recommended. As regarded unrealised stocks, certain lines as, for instance, wooliand tallow, tad declined in .value since .June ; 30, and, of course, further drops might'occur, but prospects were sufficiently good'to'make it fairly certain that stocktaking figures for the balance-sheet would suffer no material alteration.,:;. , ■ Eeverting'ito the slump of last year in frozen meat, the cause of which had not yet' been satisfactorily accounted for, it was interesting and satisfactory to record that the belief that production had outrun the possible'consumption'at anything, like' fair prices was quite erroneous, as the following figures Bhowed:—The-exports to Great Britain for the year 1909 showed increase over the previous year-of:. Mutton 628,300 carcasses, lamb 948,000 carcasses, beef , ;6s4,97o,;'qHarters.'.-For the eight months ending.-Juno v.3o'- there -, had', ibeen, further heavy,'increases over last, year.'s bis- num-. bers, the total numbers being: Mutton,: 5,073,500 carcasses, increase on last ycar'.s of 625,300 carcasses; lamb, 4,490,200 car-.-casses, increase 214,250 carcasses; beef; 2,404,550 quarters, increase 410,450 quarters; all of which had reached or was close to the Home markets, and was being readily.values.. To bring figures ae cloeo to date as-possible 'July shipments from all' sourr ces (Australia, Argentine, and .New Zealand) .'amounted to: — ', y ■" ''•''•. M' : ■-1909-10'.: ' .1908-9 Incr's.' 'Mutton'*.■.£'.... 630,000 e'e's' , 471,600 158,500Lamb 371,500'e'e's 291,600 79.900! Beef' ■-.'..■.....-.......■341,150 -qVs, 309,600. 31,550' 'showing V'gross"c!L'cess"over lastyeai of., equivalent to 2,400,000 carcasses. A good deal of attention had recently, been drawn to New York as a market for our frozen meat, and in consequence ho had made inquiries, the result of which, went-.to show that the quantities exported' Irpni. London to New York were quite 111,significant. For tho, two or three wcelse in June tho exports were only 600 to 600 carcasses weekly, and these in addition to. the duty of J cents per lb. were met with such,excessively harassing demands from the. health authorities as to have detained one consignment in bond for six weeks. From this it ■ would be seen that New York , offered no inducement for exploitation from this end. Should a better open-' ing offer, South America from its proximity would probably bo the supplier, but quite an equal benefit would result to Aus-. tralasia from the withdrawal of that proportion from tho British market. In seconding the adoption of the report and balance-sheet, Mr. G. M. Kcbblo said that he could not see how the company could put by £6000 for a special reserve for equalisation of dividends. If no dividend was mado next year they should not pay one. The-chairman, replied that ho looked forward to a return of good business, and that the £5001) was merely a book entry to' show shareholders , that they would get a. return for their money..The report and balance-sheet were then adopted. ■ ... The retiring directors, Messrs. W. o.' Buchanan and Chas. Elgar. who were eligible, were ■ w-eleeted ,at a remuneration of £800* per annum. 'Messrs. O. S. Wat-, kins and E. W. Hunt wero re-elected audi-:' tors. Mr. W. Watson proposed a vote of thanks' to the directors" .and staff. In doing so'

ho'said "that the'profits shewed that the business was properly attended to and tho works well managed. ' '

.■ The vote of thanks was carried by acclamation, and-the--chairman,..in , reply, stated'that all agreed.-that'-Mr. - Kebblo had tho. interests. of , tho company at heart.