COMMERCIAL ITEMS.

Dominion, Volume 3, Issue 904, 25 August 1910, Page 10

COMMERCIAL ITEMS.

' ..' INTESTMENT SHAEES. . No transactions were recorded in investment..shares yesterday, .and.values were practically without change, except that sellers of- Bank .of New Zealand shares lowered their prico 'from £10 12s. 6d. to £10 -10s. ( Tho buying, and selling quotations wore.as under:—

U2UON BANK. The accounts of tho Union Bank of Australia, Ltd., for the half-year ended February 28 show that the net profit amount'cd to £136,049, and the balance at credit of profit and loss totalled £174,928. The net profit for the corresponding half of 1909 was £135,562. The sum of £10,0 CO has been written oil' premises account in Australasia, and £20,000 is added to the reserve fund, raising it to £1,510,000. ■ A comparison of tho figures with 1909 is shown below:— >. Feb., 1909. Feb., 1910.

In comparison with twelve months ago, gross profits have increased by £5066, but as expenses llave expanded almost to the same extent, of which £2400 is duo to heavier taxation, riot profits are little altered. Deposits have advanced by £2,C00,000, while liquid assets arc higher by £1,600,000. Advance:: are practically at tho samo figure as they were twelve. mouths ' auo. ■ • , .

MONEY 3IAKKET. Financial conditions in New Zealand contimio easy (states the "New Zealand Trade Review," to be published to-day). The Government is obtaining from outside sources the money required for its ovn7 purposes and for such advances as. il.'. makes to local governing bodies and through the Advances to Settlers Office. Tho profits arising from the realisation, of the produce of an unusually bountiful season are thus left available for use in tho Dominion. Evidence is seen of this in tho bank returns and in tho returns o£ the Post Office Savings Bank. Tho figures for the latter are .instructive. The very heavy excess of deposits-in the latest. quarter represents undoubtedly the funds of small capitalists awaiting investment rather than the'savings of\ tho thrifty worker. In spite of the fulness of the supply of money, however, there are not in evidence the signs of energy and enterprise that we should like to see. -There aro general complaints of "want of confidence." but opinions differ as to the cause of this condition. One reason suggested to explain tho feeling is the heavy death duties recently imposed. It is quite possible that this factor may result, as is alleged, in the withdrawal of large sums of money for investment elsewhere, but this would not in our opinion explain present conditions, which are an ample supply of money and little inclination to utilise it. Other observers lay the blame on the labour conditions of the Dominion. Not only the legislation on that subject but also tho unreasonable, arbitrary and reckless temper of those who, too often, sway tho actions of labour organisations. Many of these are Socialists, whose aim is not to improve present conditions but to entirely change them. We are inclined to think that thcro is more in this than in the'matter, of tho death duties. The Customs revenue collected at the port of Wellington yesterday amounted to £2362 6s. 4d. • HIDE ABD SKIN EEPOET. The report of Messrs. Dalgcty and Co., Ltd., of their initial, sale of wool, skins, hides, and tallow, held at Dannevirke on Tuesday, August 23, is as follows:—We submitted a lengthy cataloguo of all classes to ■ a representative attendance of buyers. This being our first sale at this centre we caunot give comparative values, but bidding was'spirited throughout, and prices, showed in advance to recent Eales elsewhere. We quote:—Wool: Crossbred, 73d. to'B!d.; good to medium crutchings, 53d. to 6d.; inferior, 4Jd. to s'd.; dead, 73d.; pieces and black, 6Jd. Sheepskins: Crossbred, fine, 73d.; medium, Gfd. to 7Jd.; damaged, 61d.; dead, 41d.; halfwools, 6Jd.; damaged, 4*d.; quarter-wools, 43d.; hoggets, 63d. to 7d.; dead, 61d. to Cjd.i damaged, sjd. to 6d.; butchers' crossbred, green, 4s. 10d. to 6s. Id.; dead, <s. 2d.; salted (hoggets), 4s. sd. to 6s. 2d.; inferior, 25.. 7d. Hides: No prime lots, offering. Ox, medium, 5Jd. to 53d-; cow, medium, 5Hd. to 58d.; green, 18s. 9d.; calf, good, 8»d. to 9d.; cut, 5Jd.; horse, ss. to Bs. 6d. Tallow, in tins, 18s. to 265. per cwt. . .. : SHAEES AND DEBENTURES. Uy TeloErivph—Press Association-CopyrichL .:, London, August ■ 23. ; Tho Stock Exchange quotations include: —Bank of Australasia, buyers £114, sellers £116; Bank of New South Wales, buyers £44 10s., sellers £45 10b.; Bank of Victoria, buyers £4 12s. 6d., sellers £5 2s. 6d.; Bank' of New Zealand, buyers' £10, sellers £10 10s.; N«w Zealand Loan and Mercantile, 4 per cent, debentures, £97; Melbourne Trams, £102; Melbourne Board of Works, £101. ■ •'■■-, THE METAL. MAEKET. . Bj Telegrapn—Pro? Association—Copyright. London, August 25. Copper.-On tho spot, £55 13s. 9d.; threo 'months, £56 10s.; electrolytic, £58 7s; 6d. Tin;—On tho spot, £155 155.; three months, £155. . LONDON MARKETS. By Telegraph—Press Association-Copyright. (Rcc. August 24, 9.55 p.m.) .- ■ London, August 24.... Wheat.—An Australian cargo has been sold at 38s. ' •~- „ ' Cdpper.-On tho spot,'£ss, 10s.; threo months, £56 Bs. 9d., '.-...■ • Tin.TrOn the spot, £157,105.; three months, £156 :2s. 6d. ' i ■'•'.''' ' : Lead,;£l2 Us. 3d..: •';. ~ ■ - ".]'" .-.'dTJNEDIN GRAIN MAEKET. (By Telegraph.—Press Association.) ' • Dunedin, August 24. Tho oats market shows no change. ,There is littlo demand from shippers, and almost tho only business passing is in moderatesized "lines for local consumption. Prime milling, Is. IOJd. to Is. lid.; good to bost. feed, . Is. 9Sd. to Is. 10id.; inferior to medium, Is. 7d. to Is. 9d. Tho demand /for wheat slackened to some extent a week ago, but, since then. , a better demand has been experienced, and a considerable .quantity of prime Tuscan and Velvet Ear has changed hands at quotations. Good fowl wheat is not over plentiful,! and there has been fair inquiry. Prime milling Velvet, 3s.'ltd. to, 45.; Tuscan Velvet ; Ear,'- etc.,' 3s. 7d. to'3s.'Bd.; medium to good, 3s.'sd. to 3s. 6d.; best.whole fowl wheat, 3s. Id, to 3a. 4d.

Buyers. Sellers. £ 6. d. £ s: d. Bank of N.Z ' — 10 10 0 National Bank — 518 0 UyuiUible BuiMing 9 12 6 , — , Metropolitan Building ...12 0 0- , — Loan and Mercantile — 010 6 N.Z. and Biver Plate — 2 1'0 'Wellington'Deposit , .:. — 0 8 9' Foilding Gas .— 12 0 Wellington Gas (£10) 18 2'6 — • N.Z. Insurance- -~r- 4 0 0 :Genr .Meat (£4) :.... 10 5-0 — Gear Meat (£11 2 15 0 -:■■ Meat Esport (£4) — 5 5 0 Meat Export (£2 12s. 6d.) - 3 5 0 ii.'/j. Shipping 915 0 ' 10 0 0 Union Steam 115 3 —' Wellington Woollen (ord.) 3 12 0 — ■ Wellington Woollen (pref) 2 13 6 -' Taupii'i Coal — 10 6 Wcstpurt Coal ................. — 6 15 0 Lcyland-O'Bricn — 17 6 Sharland's preference "— 12 6 Taranalii Petroleum — . 0 10 0 Taringamutu Totara ...;.. 111 0 — Ward and Co. .: — 5 6 0

■•-..••■ £ £ Capital .I.. 1,500,000 1,505,000 Ueservo 1,270,000 1,310,000 Kotos W.072 470,997 Deposits 19,322,079 21,349,025 Bills payablo 2,052,903 1,559,150 Bills receivable, advances - etc ".. 17,950,856 18,784,357 Specie and money at call '4,5G9,907 5,182,314 Investments 1,667,941 1,818,368 Colonial premises :... 451,843 429,193 London lease 120,615 '119,868 Gross profits 207,890 292,950 Net prollts 135,562 136,019 Uomis, p.c . 4 4 Dividend, p.c : 10 10