COMMERCIAL ITEMS.

Dominion, Volume 4, Issue 1023, 12 January 1911, Page 8

COMMERCIAL ITEMS.

INVESTMENT SHARES. ; Tlio sales of investment shares recorded yesterday wero National Insurance, 345. 6d., ami Tarineamutu Totara, at 4vS. Iho

- JAPAN -MAIL STEAMSHIP COMPANY, i The accounts of the -Nippon Yusen Kaislia (Japan .Mail Steamship Co.) for tiic eix mouths - ended September 30, last short'that the gross profits'. amounted to £429.8/ from which have to. be deducted £91,590 ior depreciation. £<4,300 transfer , to insuraneo fund, and £59.176 credited to - ships structural repair fund, leaving a net profit of £'34.808,• against £141,161 in the correspondIne term of 1909. With. the-balanco forward there is £320.670 .available, of which the usual dividend at'the rate of 10 per cent, absorbs' £110.000, directors ar.d auditor, I fees require £5947; to the reserve fund £11,7<0 is -added. • raising- it. to £107,343 .is set aside as' n, reserve for the reduction'of subsidies, and a balance oi £85,640' is carried forward.LONDON WOOI/SALES. The I 'first of tho • series of London jwool sales for 1911 will .commence on Tuccday nevt, January 17. when the quantity to fco catalogued is 153.600 bales. Compared with the.first sale of last year the figures aro as under:— .... . »' 1 Jan.l9lo. Jan.l9ll. /- .BnleF. Bales. New-arrivals ?oT*er2 ' Forwarded direct 220.000 193,vC0 Available 180,000 190,C00 Although' the new arrivals have been less, the , quantity available for the sales is considerably larscor than last year, ana this is owing to less wool bcintr forwarded direct to the manufacturers. Market prospects arc difficult to focus, but it is not unlikely that, for crossbred wools, the tone of tho London market will accord with Othe suite of the market in New Zealand. EXPORTS COMPARED.. . Yesterdav thevaluo3 of the principal ex* ports for tho closing month of last year were given, and now wc present tue values of tho several products for the whole year in comparison with tlxoso of 1909. The figures given below are taken from the leaflet issued by the Department of Acnculture, Commerce, and • Tourists:— Year 1910. Year 1909. Butter 1,823,147 1.639.580 Cheese ; 1,200,219 1.105,390 Beef ...: 596,230 565.418 Mutton 1,190,392 1,070,606 1 Ligs aiid nieces :..... 58,513 '6J.M9 } Ijimb 1,876,610 1,817,026' [ Wheat ■ 216,665 305,902 Oats : 44.237 454.0C5 Potatoos .' 3,535 2,871 ; Hemp ' 448,388 307,9/3 Rabbits 70,692 . 64,201 Tow 32)104 17,518 l Kauri gum <65,C44 552,698 Grain and pulse ... 57,390 71,373 Hops 23,453 11.912 Hides 230,269 216.629 Skills 863.733 773,834 Tallow 755,319 ,650,308 Timber 407,984 341,549 Wool .8,270.905 6.305,888 Gold 1,896,318 2.0C7.353 - i £20,528,173 £18,345,003 e Last year wool, frozen mutton, and lamb 1 accounted ,for £11,395,418,-and this is not * all the income from the-sheep, for there, is a certain amount of tallow and also skins 9 to ho taken into account I

. AUSTRALIAN. STATES' REVENUE. ..... According to the Melbourne "Acc." the revenues of tho Australian States for the half year endiner. December 31. 1910. have been'swollen by the lartre receipts from the Commonwealth. As a consequencc the tctrii of £19,722.248 is £2.850.023 in, excess of the receipts for the December half, of 1909. Every State in tho group,' under tho circumstances, is able to show a larso increase in revenue. The'real tale will be told this, half year,' when tho. Commonwealth brings its payments down; so as to make the payment for the whole, year not moro than'2ss. per head. The fleures for tho past\lialf year compare with these for 1909 as follow:— 1909. 1910 Increaso. New. South Wales 6,840,590 7.657.9C9 817,319 Victoria ./. 3,891,801 4.741.350 849.549 Queensland 2,481,285 2.833.716 352.431 South Australia ... 1,651',758 2/10.640 358,882 West Australia 1,572,579 1.915.978 343,599 Tasmania 434/12 562.655 128,243 16,872.225 19,722.248 2.850,023 Tho most satisfactory feature about the position is that tho business undertakings of tho States are yielding so well. Railways throughout Australia aro establishing fresh records. If tho four eastern States bo taken, tho increase in their railway receipts for the half year has been:— £ Victoria 215.374 New South Wales -408,162 Queensland ■ 226.715 South Australia 141,956 Consequently an increase of nearly £I.GCO.OCO in the returns from the Eastern Australian railway systems is disclosed for the first half of . the year. There has also been an expansion in' the territorial revenue of all tho States, thus indicating that settlement is estendinc. What has to be remembered by politicians is that the income from these two courccs is especially susceptible to the course of tho seasons. Therefore, as expenditure is expanding, ike tendency to depend on the business undertakings for revenue, as shown by some of the State Treasurers, has to bo watchcd; Customs revenue collected at tho nort of Wellington yesterday amounted to £7749 7s. Id. WHEAT AND .FLOUR. By Telegraphs-Press Association—Copyright. London, January 10. The wheat and flour afloat for the United Kingdom totals 2,195,CC0 quarters; for the Continent. 1,570,000 quarters; Atlantic shipments, 150,000; Pacific, 50,000. Tho total shipments to -Europe duriup the week amounted to 1,075,CC0 quarter?, including 42,C00 from the Argentine, 60X00 from Russia, 150,000 from Danubian districts, 120,C00 from India, and 140,000 from Australasia. - COPPER. ■ ' " By Telegraph—Press Association—Copyright London, January 10. Copper,—American in stock, 122.030,C001b. SILVER. By Telegraph—Press. Association—Copyright. London, January 10 Bar silver is quoted at 25.\d. .per ounco standard. AUSTRALIAN AND N.Z. MORTGAGE. COMPANY. By Telegraph—Press Association—Copyright. London, January 10. The Australian and New Zealand M-»rt-page Company's shares are quoted at 995. DUNEDIN GRAIN MARKET . (By Telegraph—Press Association.) • Duncan, January 11. The wheat market is devoid of animation, and the only demand is for prime milling, velvet Tuscan having little or r»o attention. Best velvet, 2s. 9d. to <3.: best Tuscan, 3s, 6d. to 3c/ ,7d.; medium. 3s. 4d. to 3s. 6d.: inferior to medium. 2s. od., to 3s. 3d. The oats market is exceedingly quiet, there being no demand tor shipment. or milling. There is only a very small quantity in store, and the' only business is in the disposal of small lots for local requirements. Bast milling. 2s. 3d. to 2s. 4d.; host short feed; 2s. 2d. to 2?. 3d.; iufcrior to medium. Is. lid. to is. Id. BRITISH N.Z. MEAT CO. ANNUAL MEETING. IBy Telegraph.—Press Association.) Chrlstchurch, January 11. The seventh aunnal meeting of the chareholders of tho British New Zealand Mc.it and Produce Compauy was held this afternoon, tho chairman of directors (Mr. y. C. Orbell) presiding over a good attendance,

The report recommended that tho balance to the credit of profit and loss account (£3594) should be dealt with as follows:—Payment of dividend at 8 per cent, por annum, £1705: reduction of patent rights Defroster. £i2sC;~to be carried forward, £639.

The chairman, in moving the adoption of the report and balance-shccl, said that he felt sure that it afforded -pleasure to shareholders to know that the directors were ablo to meet them with a satisfactory credit balance. In concenuenco of the expansion of the business the company had increased its capital hy £6000 during the year by the disposal of new shares. The company was daily gaining support, and increasing its business, and, if they found it necessary, they would not hesitate to strengthen its linancce by -the • allotment of more shares during the year. It had been found necessary -to obtain an additional rtall on Smithfield to provide for tho efficient management of the business.

quotations were as under:— Buyore, SelUra Sale? £f.d. £ s. d. £ 6. d. Bank N.Z 10 12 0 10 14 6 - National Bank — 14 0 — Well. Investment... 011 0 011 6 — Well. Deposit — 0 8 0 — Well. Ga? (£10) 19 2 6 - - National Insurance — — 114 6 Gear Meat (£1) ... 3.1 6 . - • - N.2; Shipping ...... 11 • 3 0 — — Well. Woollen (ord.),3 15 0 — — Taupiri Coal 10 6 •— — 'V/ealport Coal - 7 5 0 - Miramar, Ltd —. 0 « o — N.Z. Con.'Dentnl ... 1 2 6 — . Tarsnaki Petroleum 0 10 6 — .TnringamutuTotara, o u Whitcombe and , » 1 • Tombs — 6 7 0