COMMERCIAL ITEMS.

Dominion, Volume 3, Issue 897, 17 August 1910, Page 8

COMMERCIAL ITEMS.

'■■:. , INVESTMENT SHAKES. •iThore were no transactions in , investment, shares yesterday, and the market was inclined to dullness. Values, however, show 110 changes. The buying and tolling quotations under: — : . . Buyers. Sellers. £ B. d. £ s. d. Bank N.Z „.. _ ■■ 11 0 0 Eiiuitable Biiildinc .-. 9 10 0 - Metropolitan Building ...12 00. - Loan and Mercantile ... — 012 6 Wellington Deposit - 0 9 0 Wellington Cas (£10) 18 2 6 - Wellington Gae (£6 15.) 13 12 6 - If.Z. Insurance 317 0 319 0 Gear Meat (£4) 10 5 0 - Gear Meat,(£l) 2 15'0 - Meat Export (£2 12s. 6d.) 3 0 0 3 5 0 JN.Z. Shipping - 10 0 0 Wellington Woollen (pref) 2 12 6 2 13 6 Taupiri Coal - 10 6 Wcstport Coal 613 0 fl4 0 Westporti Stockton - 7 3 0 Leyland-CBricn — 17 6 Manning and Co.. 4 0 0. - . JT.Z. Con. Dental ....; - ' 12 6 N.Z: Drug.- :......... '—' " 212 I) N.'i. l'apw Mills- ;......■ 12,3 • - - -'. : Shai'lajidj (ordinary)-.. 1-2 0 — Suarland's (preference)'... 12 0 — ' Taringainutu Totara 110 0 — Ward an! ,Co 5 7.6 — ■ NATIONAL 1 BANK. "At the annual meeting of shareholders of tho National Bank of New Zealand hold in London ou,Tuesday, July 5, the chairman, Mr. Robert Logun, beforo moving the' adoption of tho report, referred to the condition of business in the ■ Dominion as favourable. He said that they had so far got over the. labour troubles, and matters were now going on somewhat smoothly. With this settlement of. trade affairs tUo business of'the bank had increased to "a very satisfactory, extent. It would be remembered that in March last 50,000 new shares wero offered to shareholders at a premium of £1 ss. per .share;' in,the proportion of one share for every three, shares held. The new shares had been allotted, and would rank for dividend as from Ist October next, and the preniium,"-a"nid"untihg't<> : £62,500, would be carried to reserve lund, which would then stand at £460,000. It would bo seen that out of the profit of the bank the Amount placed to the reserve and depreciation were, 1J per cent, of tho total invest mente. Tliis large sum was .v precautionary measure on account of the extension of their capital, and they should also lipid a larger amount in cash and securities. Their securities wero for tho most part socalled giltredged,. and it was precisely these same ■gilt-edged securities that had most fluctuated, such fluctuation -being usually in a downward direction. They would this year place £22,5C0 to the reserve fund, which was £2800 less than last year. The addition to tho fund, derived from the premium on the issue of the new shares, made it unnecessary to make bo large provision from the profits of lost year. The Bum of £7500 is set aside as a reserve for depreciation ,on investments. As regarded the dividend, they had tor six years paid 10 per cent., together, with.a bonus. They now proposed to raise' the' dividend to 12 per cent,, and when' ho said that he did it.in.the telief that" they would be able to nay that amount in the future on the increased capital. Having regard to tho increased capital, they did not propose to pay any bonus this year; ' .they believed that they '.would be able to pay this 12 per cent, on the increased capital, but thoy could not .also ; '-pay>. a: bonus on-.the/in-creased capital! Having also regard to the larger capital, they thought it prudent to increase, the balance carried forward. The balance-sheet was the best they had been Sble ; to present for years past;,the , position of the bank was excellent, and'the'progress satisfactory. They had had steady progress for. many yea.rs now, and the board would keep the maintenance of that position, steadily in view. '.:'■ ■ '

i. . ''■ ',BRITISH CAPITAL. '," ■ .'According' to the -"Economist," the now capital applications' in England during tho first: half of this, year amounted to X! 88.077,000, which broke nil previous 'records. The 'British-: subscriptions for .the first six months in the past two years compare as under:— ■ ; ... ■■ , ■ ; '~'.'•■. .:. . . ■,'■. 1909. . 1910. . United 'Kingdom.-' 12,19(,8d0 ' «,8?7,6t0 Canada. ......;...:..-.........:..... ■ 16,307:300 '.26,518.200 India,. .'. ;' 11,850,900 -'12.7a4.3t0 Australasia .: 10,526,300 :. 7,130,800 ....:.;.•...-...... 9,601,1C0 2,466,100 Other .'British Colonies 4,071,900 10,767,200 United States 2,298,700' -36,414,600 Argentina .: 13,298,980 : . 7,838,400 Brazil ..............,.;....'. 6,274,500 10,808,400 Other South.and ■ ■■-. ■■■ ' :1 Central American .... 14,688,900 . 9,865.500 Other foreign .19,960,200. 19,595,900 .;.''■!' .■,.'' . 121,073,500 188,077,000 •British Possessions obtained in the past six months £59,666,600, as compared wit!; 535!S 35 !& C 0 ifPftcfhpj/fgrresjKindii.ietpewod :oJE 1909.- The proportion received by Australia and New' Zealand is extremely small and considerably leas. tlian last year. There is an increase in tho amount furnished by foreign countries, .but-this. arises .entirely through the'^extraordinary demanaVinado by the United States. . ■

: AUSTBAIiAiiIAN WOOL EXPORTS.' The now wool/year commenced on July I 1, and the exports for tho first month compared with" July last,. as shown by the figures compiled by, Dalgcty and ;Co., Ltd., are as under:— '. ■ ■ - ' ..;.-: :%'•■ '.:,".. •' 1910.' . " 1909. .''.' .' -.'- ' . •". Bales. Bales. Victoria ' 5,983 - - .' 3,479 New South Wales'..-. 20,428 24,188 Queensland -21,244 . 9,295 ' •' . S. Australia 267 ' 646 '.- W. Australia 950. ' 810 ■ ." New Zealand ..„. 11,766 14,145., . ; . 60,638 ';..' 52,563 'Tho flgnres for West Australia are estimated, but talicn as approximately correct There is a gain this year of 8075 bales, which .is very satisfactory. ,; : IMPORTS'.FBOM BRITAIN..- .'..,'■ •"Tho following is a return of tho principal lines of goods, of British-manufacture exported, to New Zealand during tho month of June, 1910; also, for the six months ending June 30, 1910, with; figures for 1909 shown for purposes of comparison. Compiled from the Board of Trado. returns:— , !ilonth ending months ending ■ :■'. : ~-■;' June 30;: . June 30. ■.. ■;■■.' ' 1909." ' 1910. .' 1909. . 1910. ' .£ .'■■£•-.£ £ Beer ,and ale 2,177- 2,933 - 17.306 15777 Spirits ;......, 17,992 ; U^47-. .99,700 105 513 Iron and.steel,. . ■ -.-, *■ and ; manu- ' '. .: . factures . ■ thereof 58,438 60,481 ' 365,729 445,122 Copper, WTou- : ~. ■ ■ Bht ' and •• .. raa.nufac- ■•''■■ _ tn «d '...; 1,275 1,281 ■ 13,359 . 12,427'. Cutlery ,3,466 3,547 12,589 15,77?. Hardware;. ,8,964 8,666. 48,656 51.063 Cotton Piece '-.• ■'-. ■ - Goods of all ■•' ■':■■• ■' . ■: Jtinds- .'.'.86,620 , 291,419 340,30 a,'1 Woollen and • . Worsted ' ■ . „ : .; manufac- ,'•'■ '■"• ••'■ ■ ..-. turc5.:.......... 47.995 ' 52,126. 169,738 188,905 -Jute .. manu- .-.- '■: : . . factures,....:. 3467 2,330, 16,675 14,646 Linen Piece - . goods of all • , Mnds , 3 ' 532 12,349 . " 39,686 50,766' Apparel 45,717 49,713 , 210,306 236912 Boots and . ■ ■ ' . ; shoes ....■ . 9,636 10,758 75,697 75,184 Saddlery and • 'harness ...... 3,411 3,767 13,284 16,105 China and ' : earthen- • - ; ™. e ,-• 7,946 7,356 39,814 39,964 Writing and ■■ printing . ' .! Paper 10,794 10,991 ; 58,759 57,960 i Cement 1,691 1,808 13,723 10,189 Stationery . '!■ other than paper. 4,015 5,722 - 20,853 20,932, . Tho Customs revenue collected at the port of Wellington yesterday amounted to i £3426 Us. 6d.

. ..TIiADE IN t AIiIjE2f STREET. Fruit.—The..Warrinioo due ; tOrday from Sydney is bringing a moderate consignment of oranges, jioasioii' fruit, Seville oranges, pineapples.. and .lemons. Oranges should meet with a good market, owing to tho fact that no Island boat will be arriving for about fourteen days. Lemons are in Eood -supply, tvud prices arc in favour of uycrs. 'l'asmanian applies are firmer, owing to moderate, shipments coming forward. The market closed very firm for choice cooking . varieties. For a line of Motuoka cooking apples 7s. to Bs. was obtained at auction. Tho .Tasmanian pcara now coming forward are on the small 6ide, and are realising only moderate prices. Vegetables.—For cabbages the market is slightly easier owing to heavier supplies coming to hand. Choice varieties of cault. flowers are scarce, anil command from 10s. to 12s. per sack. Well-filled sacks of nunipfcins'aro selling at 3s. to 4s. per sack. Eggs.-Presh eggs are now cominc in freely, and range from Is. 2d. to Is. 3d. per dozen. Tho tendency of the market ie to ease." • .Butter.—Prime bulk continues in short supply, and the quotation rules at IOJd. per lb. ..Honey in 561b.'tins,■■prime duality, commands 4d.. per lb. . ■ ■ . Pungus.-Thero. is strong inquiry for this commodity. ' . ■ Fresh Cut Flowers.—These are now coming forward very freely, and realise satisfactory rates. Poultry. The market continues good for live poultry,, while dressed is in ample sup- .■ Wheat-is selling freely, and' there is no alteration in 1 va^ue. Pollard. —Supplies are . offering more freely, the. current quotation being. £6: 53. to £6 10s. per ton.

GRAIN. AND PRODUCE. (By Xcicsraph.-Prcss Association.} . Christchurch, August 16. There is a little firmer tone in the local wheat, marliet, several millere making inquiries with a view to replenishing their stocks. They arc, however, wanting only good, wheat; and a few sales, mostly, of small;lots, at.3s.'.2d. and 3s. 3d. at country stations have been'made. Such prices are only given, however, for.slightly weathered lots, or lots that contain : a large proportion of grain that was sjived without damage by rain, and consequently above fair avenge quality. ' There is a .considerable quantity of gram held in store, which will havo-to.bo disposed of beforo the .wool season 1 commences. V '■'■'■

Oats are still' without any move, and oatsheaf chaff is rather easier.

Potatoes are still advancing in price, and are now quoted at £5 15s. to £6 at stations.

■WANGANTJI MEAT FREEZING COMPANY. 'By 'i'cltcr&iui.—l'rcs3 Association.l •

■„,.■:■ ". i_ Wanganui, Auprust IS. . The twentieth annual. report of the Waneanui Meat Freezing Company shows a profit lor the year of £12,721, and, after replacing the previous year's deficit- of £6821, there remains £5896 to be dealt with The directors recommend a dividend of 5 per cent., absorbing £2358, and, after making, proper provision for depreciation, to carry the balance forward. ; •■ HOTEL TRANSACTIONS. Messrs. Dwan Bros., Willis Street. Wellington, roport. having sold on behalf of Mr. n: Wollermnn the lease, furniture, and' goodwill •.. of the Occidental Hotel, The , Square, Palmerston North, to Mr. Richard Tiirnbull, formerly of the Public Works Department, ' and recently of the Granity. Hotel, Granity, Wcstport; Mr. E. J.- Waltors'e interest in the lease, furniture, and goodwill of tho Club Hotel, Marton, to Mr. H..J. Kirkwood, of Stratford; Mr. James Woods's • interest. in" tho lease, furniture, etc.,' of the Telegraph Hotel, Otaki; to Mr. Robert Buckeridgc, late of tho Shepherd's Arms Hotel, Wellington; Hγ. H. M'Quire's interest in the Okaramio Hotel, Okarainio, to Mr. B. Light, late ol the West Coast; llr. A. G. Kimpton's interest in tho lease, furniture, and goodwill of the Shepherd's Arms, Hotel, Tinakori Koart, Wellington, to Mr. Buick, of the Wairarapa. MINING NEWS. ■ WELLINGTON SHAKE MARKET. . ' Brokers experienced - another quiet day yesterday, comparatively .few shares were quoted, and very little business was .recorded. Ross Goklflelds gave promise of improving, and at the midday call were sold up to 4s. 7d., but in tho afternoon they eased off, sellers quotin; 4s. sd. Tho sales recorded were as under:— . \ ' May Queen, 3s: lid. (third call). . Talisman, 555. 6d., 655. 6d. (second call). . Waihi Grand Junction, 395. 9d. (first call); 38s. 9d. (third call). Ross Goldfields, 4s. 6d., 4s. 6d. (first call); 45..6 d., 4s. 7d., 4s. "d. (second call). QUOTATIONS. , '; ■ ■ Buyers. Sellers. Sale's; £e. d. £s. d. £«: d. Kuranui Caledonian, — 0. 1 5 ' — May' Queen .;. 0 310 0 4 0 -'0-3 11 Mountain King .— . 0 Oil — New Sylvia 0 310 0 4 0.Old Hauraki ; 0 4 7 0 4 9 - Saxon JI.S . — _ ■ - Tairui'Brokcn HlUs-O" l>7. 1 0 a' 3": • ■ Talisman 215 0 215 6 2 15'6 ■Waihi Extended -' 0 3 0 — Waihi G'd. June.... 118 6 118 9 118 9 Watchman - 0 2 0023 : —. Blackwater,' ...;.-?-■ -114 3 '•' — Con. Goldfields ; — 12 0 — Progress ....". 0.12 3 013 0 — Boss Goldflelds ..:... 0 44.0 4 5 .0 4 7