COMMERCIAL ITEMS.

Dominion, Volume 4, Issue 984, 26 November 1910, Page 10

COMMERCIAL ITEMS.

INVESTMENT. ■\ ' Sales of Ohristchnrch Gas at'£9'lss.. and Wellington "Woollen: prefere'neo' at v£2 16s. were recorded .yesterday. The Quotations were as under:— , -

, WELLINGTON WOOL SALES., ' The catalogues for the. "Wellington wool sale to'bo held on Monday next in the Concert Chamber- of the Town' Hall, beginning at* 9 a.m., are now available,; and show a total of 6284' bales. Compared with the figures for the corresponding sales of the two previous years, they show as under:— Bales. 1908 M 7,600 1909 „„ ...11,050 ' 1910 J. 8,284 There is a shrinkage ae compared with last year, and this may bo in part attributed to the early'closing of the catalogues, and the holding of the sale nearly a week earlier than la6t year. The offer-

ings of- tho several brokers on Monday, according to. the catalogues, are as under: Bales. " •Dalgety and Co. .............;;. : 3,171 Lovin and Co 1,700 N.Z. Loan-and Mercantile .„ : 1,353 ' Murray, Eoberts and Co 1,307 Abraham , and Williams 534 W.F.C.A. and UiF.O.A 219 8,284; A NEW COMPANY. . The .abridged prospectus of the Papuan Products Company, Limited, will be found in another column. This is a Ohristchurch venture to exploit rubber in Papua. Tho capital of too company is £75,000 in 750,000 shares of 2s. each, and in making the shares of this small denomination is merely following the practice adopted in London in connection with rubber companies. This, company is being formed to acquire an area of 2000 acres in tho Elni Valley adjacent to Port Glasgow; on' the southern coast of the eastern division of Papua, on which.it is proposed to establish a rubber plantation, Tho property is situated in a direct line between Port Moresby and Samarai, the two trading centres of tho territory. All vessels trading between theso ports must pass close to the anchorage at Port Glasgow, which is described is a perfectly landlocked haTbour with safe entrance and good' depth of water, where vcsscla can load or unload in any weather. The property is said to be the best land in the eastern division, and is held on .ease from the Papuan Government for a period of 99 years. The land is to be planted with para rubber trees and cocoanuts, and in order to make the land immediately productive catch crops such as eugar cane, tobacco, surowroot. bananas, peanuts, and maize will bo grown. It is estimated that it will talce four years to clear and plant 2000 acres, at a total with interest compounded at 5 per cent, of £25 nor acre, and this includes office charges and incidental exnenecs. The vendors are to receive 40,000 shares fully paid-up. ac<i £2000 in cash as consideration; this te praotically £6000 or £3 per acre; 500,000 sha-refi are offered for public subscription and' it is anticipatod- tho calls will be spread . over a. period of four years.. The provisional directorate is a'Btrone one and the Wellinston brokers are Messrs" Irwin and George, 37 Panama Street. Customs revenue collected at tho port of Wellington yesterday amounted to £2158 176. 2d. ... SILVER. By Telegraph—Prcs3 Association—Copyright. :,- ■ : London, November 24. ' Silver is quoted at' 25 7-16 d. per ounce I standard. LONDON MARKETS. Messrs. Dalgety and Company, Limited., havo received tho following cablegram from their London house, dated November 24, reading:-Frozen mutton • and lambs: Limited demand; prices Eteady. Frozen beef: Firmer, owing to shortage of chilled beef. Quotations aro now l-16d. per lb. higher.

■:, LONDON BUTTER PRICES. V.: . Messrs. Foley Eros.. Ltd., Tooley Street. London, send tile following cabled advico to - their Now - Zealand ■ reprowntativos, Henry Kember and Son, Wellington, under date November 25:—Danish, finest salted. ,117s. to v 118s:,•; New Zealand, , finest salted, ,110 a. to 1125.; Victorian, finest salted, 106s. to • 108a;;--Victorian, finest unfeal'.ed, 108s. 'to 110s.; New South Wales, finest salted. 104s. to lC6s.; New South Wales,, unsalted, 106s. to.lCßs.;.O.ueen-sland. finest salted, 1040. to.l Ms.;. Queensland,. nnest unsaltcd, lC6s. •to 108s.; New Z2ala,nd cheese, nnest vrhiUy 555. to. 565.; New Zealand chewo, finest coloured/ 565. : to 57a. The market is strong, on the spot. The Board of Trade ™ l " rn , 3 show imports of butter- into. the United. Kingdom -for las'.'week as 80 886 cwU.. For .the corresponding week . last ■ year tho quantity was 79,856cwt., showing an increase of 1030cwt. NEW ZEALAND LOAN AND MEECANTILE ..'■■ ._.'" : AHNTJAL .BEPOET. By Tclesraph-Press Association-Cooyriitlit. .< v :. ' (Ect. Nov. 25, 10.30.p.m.) . ; ■' : Xonclon,- November 25. ■ After paying debenture interest and adding £45,000,t0. its: reserve accounts,' tho New Zealand Loan and Mercantile Agency Co., Ltd., has declared a dividend of-7J per centum,.and lias carried forward £296,000. The''net profit is . £180.900. This" is ■ after £5000 has been written oil the promisee account, and £10,300 appropriated for the benefit .of the staff. . '; ! THE YEAII'S-EESTJLTS. The, New Zealand ;Loan and Mcrcantilo Agency Company, Limited, have received the following : cablegram from their Lon-don-House under, date November 24—Tho annual meeting will be held on December 8, when- the -Tcpbrt and -balance-sheet will bo presented to'the shareholders. The directors, recommend that £30,000 bo written off premises, .that £5000 be placed"to a staff benevolent >■ fund, and that £45,000 bo carried to reserve, thus increasing the total to £500,000. ■ Out of the balance of £20,032, the,board recommend payment of a dividend at tho rate of 7J per cent, per annum less income tai, and distribution of adffi tional .21 per cent, to the third debenture holders (thus increasing the rate of interest payable to them to 7 per cent., less income tax); leaving £296 to bo carried forward

, ' Bnyerj.. BelUrs.' Rales' ( * ' £ a. d. £ s. d. £ s. d. Bank N.Z. 10 8-0 — ' ' Equitable Build........-r 9 15 0 —' Well. Trust'.and" Loan ; 710 0 — ; . Cliristchurch Gas ... —' ' j .— . 5 15 0 Napier"; Gas- v........ 12 5 .0 — ■ ' Well.• Gas. (£6, 15s.) 13 12 6 —— Well. Gas (new) ... — 2 10' 0' — N.Z. Insurance ' :— ' 4 3 6 — N.Z. Shipping.' 10 15 C —v. ' ■ Union Steam 116 6 — Well. Woollen (ord.) — • -J ( 0 Well. Woollen (prcf) . — , . 2 16' 0 Taupiri Coal — 1'0 6 — • Westport-Stockton — 0 719 — Manning and Co.... 4 .2 0 — Jtiramar, Ltd — , 0 3 0'' — ' " N.Z. Gon. Denta! ...12 3 — ' — ' Taranaki Petroleum .— 0 10 0