COMMERCIAL ITEMS.

Dominion, Volume 4, Issue 1017, 5 January 1911, Page 8

COMMERCIAL ITEMS.

N.Z.. LOAN AND MERCANTILE. The report' of the Now Zealand Loan and Mercantile Agency Company, Ltd., for the year ended - June 30, 1910, states that after paying interest on tho prior leiu; second arid third debenture stocks, and addins £40,QC0 to reserve accounts (briuging the game up to «£SCO,COO),' there remains at credit ol profit and loss account, including the balance brought forward, the sum of ££0,052. Tljc directors recommend !a .dividend at the rato of 7h per cent., less income tas, and .a-, distribution at. the .rata of 1 2i - per:', cent., lees income tax, as additional interest upon the third debenture stock iu terms of the Company's Act of Parliament, 1904, leaving to be carried • forward £296. The net revenue for the year has been arrived at after writing. the sum of JC3O.GOO of? the company's premises account, appropriating the cum of £5000 as fho nucleus of a state benevolent fund, and paying a bonuo w the staff. The last two items arc intended by the., directors to be a mark, of tboir appreciation of the services rendered by, and -ait encourafjeuicut to", the officers whOFO efforts liuvo to largely contributed to the successful year'.' working. The sati-sfactcvry progress wadr> by the company durine recent, years liss been maintained. Both'in Australia and New Zealand good reason? have b&cn experienceu, the wool clip marking a record, while a bountiful vrhsat crop, notably' in the Commonwealth, was harvested. Priccs for wool have rnlcfl at a very satisfactory level, the dairying industry continues to exnard. and the produce markets generally have been favourable. reparding the weather in Australia are encouraging, and arothor Toort season there. as vrell as in New Zealand, may bo anticipated.

HOULDER LINE. | The directors of tho Eoulder I>ino report a nrofit. for last, rear of £21,2-11, but, after charging £4703 for • insurance, together with debenture interest, etc., a net nrofltj nf £<U7 remains, reducing: tho esin-,; ing debit balarvc to £10,501. Tlio directors are pleased to report; a:: improvement of the company's ■ prospects, and i Consider that'.the time ha-: arrived for the ; reorganisation •o! tho company's capital. 1 a ,schemofor :which purpose isnow under ..consideration. ' NEW ZEALAND .'LAND- ASSOCIATION. •The report of.the New Zealand Land A.v fociation, Ltd., for the year ended March 31, 1910, states that tho trading for the year and interest received resulted in a • cross profit of £30,516. The management and other charges, including, .income tax, amount to £2502, and the interest on debenture' stock •to £14,267. After deducting these sums, there remains 1 a balanro of'profit for the year of £13.746, which is increasod • by the amount brought forward from .tho previous year—namely. £11,761—t0 £25,507. .The directors Tecommend that the sum of £9798 be applied in payment of a dividend of 5 per cent., free of jnoome tax, r.nd that the balance of £15,7C9 bo carried forward.

_ * THE WOOL MARKET. The decline in wool at last Tuesday's sale upset a good many calculations, and caused disappointment. Early in November manufacturers were expecting to see. a, lower range of values, and it was predicted that wool would fall beforo Christmas. 'Lower values have ruled, and what is troubling woolmen is whether or not values have touched bottom. There is no disposition to buy in a falling market, and this makes the position worse. The wool correspondent of tho "Financial Times" dealing with the situation as it appeared duriug tho first week of November. wrote as follows :-'I find alike in .Yorkshire, France, and. Germany, that thero is considerable resistance to current prices .for iner.inos ,aud while importers no doubt have-operated on a fairly extensive' scale, tho spinner and manufacturer have not, as yet, taken kindly to to-day's Tates. Nowhere is a pessiiniptif note sounded about tho future, n.nd if valuw had to decline, say. r. furthor 5 to 10 per cent., there would be some big contracts fixed 1 up. So' far ps'the manufacturing end of the trade . is. cpn-. oerncd. business could no- bo bs.ttcr. All factories in the > West Riding of Yorkshire are exceedingly busy, and .many adand renewals of plant have taken With resoccl to crossu.r-(Ts, thi«< authority says: "I cannot see any solid reason nii'ch fall. but. or.? never know?. T f America docs not give some sunport. importers and may not pav nrices on a level with last year, for it is-well known.that, on rerased woM? suitable for America, .owners have bad to face a rather nasty loss. PtiU. there is "oing to be r.o «erinus?et-bnrk iu any quality. Consumption' is undoubtedly larrc, and equal to production . What the trade wants t->-day i> to feel that, .the Mttom is touched, and as soon n? buyers have confidence in nrice*. we shall . see some very good ordora placed." C'ist-oms revenue. rollccted at . the nort. of Wellington yesterday'amounted to £1632 10s. 3d. SHARES AND DEBENTURES. By Tolegraph—Press Association-Copyright. London, January 3. •• Waihi Goldmines, buyers IGOs., sellers 102s. 6d.: Grand Junctions, buyers JOs. 7d.. sellers 315.; Bank of Australia, buyow £114, sellers £115; Bauk of • New South Wales, buyers £« 10s.. sellers £44 IDs.; Victoria, buyers £4 2s. 6d.. sellers £5 2«. 6d:. Union Bank, buvcrs £62 10s., sellers £63 10s.; National Bank of Australasia. buye\s £5 2s. 6d., sellers £5 10s.; National Bank of New Zealand, buyers £5 10s., sell-

ers £5 155.: Bank of New Zealand, buyers £10 55., solid's £10 155.: City of Melbourne, £100; Melbourne Harbour,. £1C0; Jiellnuvne Ti-nr.if and V'ork?, £101; New Zealand Loan and' Mercantile Agency, £95 10s. COPPER -STATISTICS. By Telegraph—Press Association—Copyricht. London, January 3. " ' Copper.—Supplies, 58,674 tons; deliveries, <1,127 tons;" stocks, 03,797; afloat, 7200. ' • ' TALLOW STATISTICS. 11 jr Telegraph—Prejs Association—Copyriirht, London, January J. Tallow.—ln stock, 2-16/'; imports, 2401; deliveries, 2160. THE. METAL MARKETS. By Telegraph—Press Association—Copyright. (liec. January 4, 10 p.m.) London, January 4. Copner—On spot, £56 2s. 6d.; tlirco month, £56 18?. 9d. Lead, £15 Is. 3d. AUSTRALIAN WHEAT. By'Telecrapb—Press Association—C^jpyricht. (Roe. January 4. 10 p.m.) London, January 4. Wheat.—Twelve to fifteen thousand quarters of South Australian and Victorias for January-February shipments, and 14,000 ditto have been r.old at 565. 3d. An Australian cargo has been sold at 365. MOUNT MOEGAN MINE. HALF-YEAR'S WORKING. I3y Telezrabh—Press Association—Conyrieht Brisbane, January 4. The Mount Morgan mine report shows that for tho half-year ended Novcmhcr 30, the revenue totalled £484,754. The profits amounted to £76,304, .while the value of tho stocks increased by £57,776. A dividend of a, shilling a share, absorbing fifty thousand pounds, was declared.

N.Z. LAND AND MORTGAGE'* CO. (By Telegraph-Press Association.) Auckland, January 4. The New Zealand Land ■ and Mortgage Company cables that a general meeting adopted tlio directors' recommendation that a dividend or eight per cont. tier annum be paid for the year (including interim dividend), that £20.0K) be paid to reserve, and £7268 1)0 carried forward.- The chairman stated that the directors would : orobably pay :'-ine per cent, next year in two instalments. NAPIER WOOL SALES. (By Telegraph—Press Association.) Nanler, Janijiry 4. For th® wool sale on Friday, 16,i;14 bales have been catalogued, a drop of 50CD as against the third ?a!-s . last year. Tho I .shortage' is" accov.Titcd for, by tl\o .fact I that scvnl Ihoufind bales aro lockcd up ot w'airoa, owins to. steamers being Unable ->0 negotiato tho bar . Stormy Weather has : interfered with shearing in the past few vreeks.