COMMERCIAL ITEMS.

Dominion, Volume 4, Issue 998, 13 December 1910, Page 8

COMMERCIAL ITEMS.

■ INVESTMENT SIIARES. There wero no transactions in investment shares yesterday, and tho quotations were as.under:—

EASTEEN EXTENSION " AUSTRALASIA AND CHINA TELEGRAPH. Tho report of the, Eastern Extension Aus r tralasia and China Telegraph Company for the half-year ended June 30,. lMO.'.statcs that the gro=6 receipts amounted during that period to £344,960,' against £290,931 for the corresponding half of 1909. The 1 working expenses, including £22,789 for : maintenance of cables, absorb £152,407, t against £156,976 for the corresponding period of 1909, leaving a balance of . £192,553. From this is deduct- ; ed £2654 for income tax payable in England, £3378 for expenses attending severe ' cyclone at the Cocos Station, £25 donation to Paris floods relief funds, and £15,048 for interest on debenture stock, loaving £171,447 as the net profit for the half year. After adding £25,315 brought forward, there is an available balance of £197,763* Two quarterly interim dividends of 1J per cent, each, amounting to £75,000, have been paid for the half year, leaving a balance of £122,763, of which £50,000 has been transferred to tho general reserve fund, and the balance of £72,753 is carried forward. The general .reserve fund lias been debited with £30,000 as a further provision on ac-. count of investment fluctuations, malting a. total provision against depreciation of £150,000. ; /EMPLOYERS IN GERMANY. The progress made by the organisations of employers in Germany has attracted • the attention of the Imperial Statistical . Bureau, and has led to the publication of , details as to those associations. The pre-., paration of these statistics caused some difficulty, as they were intended to include only those associations which deal with labour. For this reason al! agriciil- ■ tural societies and trusts were excluded i from the figures. There are in Germany : 84 Imperial, 474 State, and 2055 local associations, a total of 2613, which f shows an increase of 21 over- last year. ' These associations have 115,095 members, employing ■ 3,854.680 .workers. : The most powerful organisations arc the Association of Gcr- , man' Metal Industries, with 2960 members, employing 489,300 workers, and the German ' Builders' Aprociation,' with 22.000 members, ; employing 333.000 workers. The Snxon Industrial Association is the largest State; organisation, with 4500 members,' employing '500,000 workers. There is. an, international association of shipping owners, . thosD of the United Kingdom. Holland. Helgium, Germany, Denmark, and -Sweden having organised themselves ■ to combat strikes. The'lnternational Federation of ' Cotton Employers' Associations does not' ' come" into the category of associations ' formed expressly to cope with labour dim-. i ; culties. E ;'.; ' J, AND P. COATS. • ' For the third time the profits of J. and , P. Coats, Ltd., have exceeded the £3,000,CC0 . mark, for they. amounted for "the .year . ended June 30 last to £3,171,000, the largest , profit over reported by thi3 large concern. It goes to confirm statements -that have •- been made that, the profits arc maintained 5 and indeed expand, despite unfavourable , conditions in the raw cotton trade. This total of £3,171,000 compares with £2,917.667 a year ago, £2,764,156 in 1908, and £3,114.974 3 in 1907, which until 1910 wa3 tho best year J the company had experienced. The profit is arrived at after deducting depreciation. . A : sum of £175,000 is placed to dividend I reserve, against nothing previously, though £500,000 was placed a year ago to > the ordinary . reserve. The. allocati-n to the pension fund is about £7000 less at , £25,0C0, while the. amount carried forward of £777,000, is :-slightly larger than' a. year » ago. In addition, it is announced that the i balance . of ' tho debentures is being paid - off out of profits. The amount of these, i according to the latest particulars avail- . able, was over £500,000. -A year ago the dividend on the ordinary, shares was; raised from:3o'to 35 per cent, by the-pay-' " ment of a bonus of Is. per- share; and - such distribution is repeated now. The I price of the £1 ordinary shares rose this 3 year from 93 to. 14 (the highest on record), . and even now it is'above 12. : This means . that on the basis of the last,dividend tho I yield to tho investor is below 3" per cent. c This is'an extraordinarily low. figure, and " indicates, first, that the shares are strongly held. by investors, and; secondly, that > they have been bought m anticipation, of , improved results which would justify an ' extra bonus. ~ It is not easy to say how| " exactly-these'profits are made,* for apart 3 fromv its trading business tho company 1 has very extensivo share interests. Tho t ramifications of the business are worldl wide, and' it has in the thread-selling j trade a monopoly almost, as complete as , that of the' ■ Standard Oil Company of [ America in its own particular sphere. LONDON MARKETS'. : ' By-Telegraph—Press Association—Copyright., : London December 11. - Twelve to 'fifteen thousand quarters of Australian wheat, January-February . 6hipmcnt, have been sold at 355. 9d.'.. Copra-Quiet. South Sea, bags, per [ .quarter,- £23 ss. ',„,,, 1 Copper.'-On tho spot. £56 17s. 6d. per ton; three months',-£57 12s. Ed.;-elcctroly-. ! tic, £59. .■''.,-• Tin.-On the spot, £174 15s. per ton. • ' Lead—£l3 3s. 9d. per ton. Galvanised iron, £14 and £13 12s. 6d.; tram rails,-£5 Is. ' I HIGH COMMISSIONER'S CABLE. . ! The Commerce and- Tourists' Division of . the Department of Agriculture, Commerce and Tourists has received the following, cablegram from tho High Commissioner ' for New Zealand, dated London, Deccm- - her 10 (quotations,-unless otherwise specified, are average market,prices on spot):—. , Mutton.—The market is quiet'stocks of i' New Zealand mutton on hand arc light. L The market,has,been unfavourably alfect- : cd by the stocks of Argentine mutton on > hand,' which are heavy,' and are widely • , distributed amongst agents, who are pushi ing sales. Canterbury mutton is 4Jd. per ; lb.. North Island.3j[d., apd River Plato 3d. per lb. ' Lamb—The market is firm. There is every reason to expect a decline. Largo ! shipments tiro arriving. Australian, sgd. . per lb. , .lieor.-Tho market is weak and inactive. ' New Zealand hinds 3Jd.. fores "Bd. per lb. Butter.—The market Is becoming more ' depressed on account of th-j arrivals. - which are increasing rapidly. There is i less demand. Shipment of buttet ? and cheese, ex'Tongariro, arrived in good coni dition. Choicest New Zealand butter, 109s. per cwt.; Danish, 1175.; Siberian, 1035.; "' Australian. 1045.; Argentine. 106s. per cwt. 3 Cheese—The market is firm, (specially - for coloured, the ' supply of which falls - short of demand. New Zealand coloured, t 575.; white. 565. per cwt. Hemp—Tho market is very depressed, and thero is little demand. Ne r w Zealand 3 good fair, on spot. £22; fair grade, £20 5 10s.; fair current Manila, £19 lCs. Forward shipment, about tho same. The outnut from Manila for tho week was 20,000 bales. ' ■ Frozen Mutton and Lamb.—River Plato shipments—The following shipments of frozen mutton, and lamb were received from the Argcntino during November, 1910:Mtltton. Lamb. London ' 113,729 12.021 Liverpool 257,097 7.981 , Hull 12,041 184 Cardiff .....; 18,903 106 371,770 "20,292. ■ Figures for, Nov., 1909 ... 146,493 21,605 [ , UNION STEAM SniP 'COMPANY. B .' ANNUAL MEETING. ' (By, Telegraph—Press Association.) ' ■*';■; Duricdln, December 12. ' The-thirty-fifth annual meeting of tho 1 Union Steam Ship Company was held this afternoon . Sir Jas. Mills, chairman of. di.

rectors, presiding. A dividend of Bid. per share for the half year ended September 3,0 was declared, making a total of Is. 7d. per share for the year. A bonus of 2id. per share was also declared, to .be paid out of the insurance fund. The retiring directors (Messrs. J. M. Eilchie and A. Lee Smith) were re-elected. OAMAEU WOOLLEN FACTORY COMPANY. (By Telegraph—Press Association.) Oamaru, December 12. At the annual meeting of tho Oamaru , Woollen Factory Company to-day a divi- ' dend at the rate of 8 per cent, for the ( year was passed; £15C0 was added ta re- 1 serve, which now stands at £8500; .C 474 was i written off premises and plant; and £544 ] spent, on new, fast looms to replace a, slower one. The chairman mentioned that the businesfl of the company was good, •and the prospects of another successful, year were favourable. FEILDIXG WOOL AND HIDE SALE. [ 'Mr. Hugh Itobcrts reports on his Fcilding wool.skin, and hide sale, held on : December 9, as follows:—We held our : monthly sale, submitting a catalogue comprising 93-bales, 220 bags wool, 1050 skins, l 500 calf and hides to a large attendance of buyers. Competition was keen at full market rates. Quotations:—Wool: Fleece, 7Jd., 91d., and 9}d.; dead, 6!d. 'to Bd.; i crutchings. 4d. to 53d.; bellies and pieces, ' 53d. to 6id.; locks and pieces, 3d. to 4Jd.; lambs. 7d. to Esd. and 9»d.; black, 6Jd. Rkins—Crossbred, -fine, 73d.; medium, 7d. fo 7i(1.; broken. 3'd. to 5Sd.; dead, 2id. to 53d.; black, 5d.; half-wools. 4Jd.; pelts, 3d. to 4Jd.; broken, Id.: lambs, <d. to 6J'd.; damn skins, at each, ss. lid. to 95.; pelts,, half dry, Is. 7d.. Is. .Bd.; lambs, half dry, Is. 3d. Hides-Calf, medium, Bd. to 9d.; cut, 63d.; slippy, 5d.; yearlings, 6Sd.; inferior, 4d. to 43d.;.c0w, slippy, 58d.; cut, sd. to Sid.: rough, 5Jd. to old. ; butchers' cow, sjd., 6d.' and 63d.; ox, 6d., 65d., 65(1.; horse, at.each. ss. 3d. to Bs. 9d.; bull, 5Jd. . Tallow, in tins, 245. 6d.; horsehair, Is. 4»d. Customs revenue "collected at the port of Wellington yesterday amounted to £5226 MINING NEWS. WELLINGTON SHAEEMAKKET. The market for mining shares was very dull yesterday, and very few sales were made. Talismans, Waihis, and Grand Junctions were steady. The sales recorded were as under:— Kuranui Caledonian, Is. <d. (first call). Waihi, £5 16s. (first call); £5 16s. (second call); £5 16s. (third call). Waihi Grand Junction, 30s. 6d., 30s. 6d. (first call).' The quotations and last sales were as 'under:— • Buyers. Sellers. Sales.

'. ' SULPHIDE.' CORPORATION. ] The Wellington Stock Eschange yester- I day received tho following tclesrrain from • the Melbourne-. Stock Exchange:—Gibbc, Bright and Co., Melbourne, agents Bui- . phido Corporation, Ltd., London, have received the following cablegram: Annual • meeting will be held on December 22. Tho . directors will recommend a dividend of 35.-per-share on preference shares, and 2s. 3d. per share on ordinary shared, less English income tax at the rate of Is. 2d. per pound, payable on December 30. "STOCK EXCHANGE. (By. Telegraph.—Press Association.) Auckland, December 12. , Business done at this morniug'6 call of the'' Stock Exchange included:— ' i' Bonanza, 6id. •■ ■ ■ ~ . May. Queen, 3s. ■ Monowai, 2s. 7d.. \ Occidental, 4d. .Saxon, Is. 8(1.. Waiotahi, 3s. '4d. llauraki, 2s. -2d. Crown, 4s. sd. * Golden, sJd..'. Kbmata Beefs, 6d. Tairua Broken Hills, Is. Id. Talisman; £2 lis. Cd., £2 lis. 9d. .Waihi Extended, 3s. to 2s. lOd. Grand Junction,, £1 lis. Tho following business was done at the 3.15 p.m. call to : day:— • May Queen, 2si lCd., 2s. 9d. New Sylvia, 3d. Bd. ■' Waiotahi, 3s. 4d. nauraki Reefs (con.), 61d. - Old Hauraki, 2s. 2d. Kap.anga, 6Sd. Champion, 3£d. -, Crown, 4s. 3d. Waihi, £5 17s. 6d. . - Waihi Extended, 2s. lid. New Waitaia (con.), 9d. , , Taupiri Coal, £1 os. 6d. ' , Dunetlin, December 12.The following are the Stock Exchange quotations:— Dredging stocks: Blackwater, buyers Bs., sellers lis.'; Hartley and Riley, buvers £s. 6d.; ; Island Block, buyers .65., sellers 6s. '. 6d.; Notown Creek, sellers 10s.; Rising Sun, .'■ sellers' £2 -Jn". . "J Mining stocks: Ross Goldfields. sellers •2s. Bd.; Consolidated Goldflclds. sellers £1; May Queen, buyers 2s. lid., sellers 3s'. Id.; New Sylvia, buyers 3s. 5d.; New Zealand Crown, buyers 4s. 2d.; Watchman, buyers 2s. lCd., sellers -3s. 2d:; Talisman Consolidated, 'sellers £2 12s. 6d.; Waihi, buyer-3 £5 165., sellers £5 175.; Waihi Extended, buyers 2s. ,9d., sellers 35.; Waihi Grand Junction, buyers. £1 10s., sellers £1 lie. Investment stocks: Standard Insurance, buyers £1 its., sellers £1 6s. 6d.; Westport ' Coal' Company,, sellers £7; Mosgiol Woollen Factory, buyers £3 Bs.; Nov.- Zealand Drug Company (£2), sellers £2 10s.; New Zealand Paper Mills, sellers £1 3s. 9d. MOUNT LYELL RETURN. . By Telegraph—Press Association—Copyright. Melbourne, December 12. The return of the Mount Lyell Company from November 3 to 30 shows that 30,569 tons of ore- was treated, which produced . 674 tons of blister copper, containing 666 tons of copper, 63,756 ounces of silver, and 894j' ounces of gold. '

Buyers. Sellers ' . £ a. d. £ s. d. National. Bank ., 5 16 0 — K.Z. Loan and ilcrcau- , ■tilo '. 0 10 0 — Well. Trust and Loan ... 7 10 0, — Veil. Gas (£10) 19 0 0 - Well. Gas (£6 15s.) 13 12 6 - . Wellington Gas (now) ... 2 10 0 — National Insurance — 5 2 Standard . Insurance — . 16 6 Union Steam' 1 16 9 . — Well. Woollen'- (ord.) J 13 0 — Well. Woollen (pref.) 2 15 6 - Taupiri Coal 10 0 1:» « Westport Coal' — ■ H T i Leyland-O'Brien 16 3 — ManninK and Go 4 5 0 . — N.Z. Oon. Dental -12 6 13 6 Tarinjamutu Totara, .....2 ( t ■—

. ■ £.B.i. £ s. d. £ s.d Bonanza 0 0 5 0 0 6 - Haurald Reels ...... — 0 0 8 — Kuranui : — 0 0 6 — Kuranui Caledonian — 0 1.5 014 May Queen ....; — . 0 2 11 — N.Z. Crown 0 4 3. — — New Sylvia 0 3 7 0 3 8 — Occidental 0 0 3 — — Saxon' 0 10 0 18 Tairua Broken Hills 0 10 — — Talisman 2 10 6 2 11 0 — Talisman (new) ... — 2 0 6 — Waihi 5 15 6 5 !6 6 5 16 0 Waihi Extended ... 0 2 9 0' 2 11 ' — Waihi G'd Junct'n 1 10 3 1 10 6 1 10 6 .Watchman 0 3 3 — — r.lackwater — 1 11 6 — Con. Goldficlds 0 19 6 1 0 0 - New Big Eiver ...... 3 8 0 3 5 0 — Progress 012 0 — —