COMMERCIAL ITEMS.

Dominion, Volume 4, Issue 1113, 28 April 1911, Page 8

COMMERCIAL ITEMS.

INVESTMENT SHAKES. fair aumber of sales of investment shares were made yesterday. Business was done m Wellington Trust and Loan, at £7 16s. 6d., Meat Export (£5), at £6 Bs., NewZealand Drug at £2 9s. 3d., and Ward and Co., at £5 Is. 6d. The buying and selling .quotations were as under:— Buyers. Sellers. ..,.,„, £s-d. JG B .d. Jiahonal Bank — 6 l o National Mortgage 3 5 0 3 7 6 N.Z. and River Plate... — 2 0 0 Wellington investment ... 0 11 3 — Well. Gas (£7) 14 0 0 - ' Christchurch Meat — 16 2 6 Meat Eiport (£5) — 6 8 6 Meat Export (£4) — 5 7 0 Meat Export (525. 6d.) — 3 7 0 N.Z. Shipping 11 15 0 — Well. Woollen (ord.) ....;... — 42 0 Well. Woollen (pref.) »3 0 0 32 0 Taupiri Goal 113 — Westport Coal — 19 0 Manning and Co 4 11 0 — N.Z Drug 2 9 2 ' — .■ Sharland's ordinary 14 0 — Sbarland's prcfercnco ... 1 4 0 — Taranaki Petroleum — 014 0 ANOTHER MEAT COMPANY. . It is only a few months since the freezing works at Waingawa, Wairarapa. were opened, and now wo have another company about to bo formed in Wellington and district. The capital of the new concern is to bo £50,000 in 50,000 shares of £1 each, and it is proposed to acauiro 44 acres at Nealiauranga, which will include the Banks' Meat Company works. The provisional directors are Messrs. Jas. Macintosh (chairman), John Davies (Kereru), Kichard S. Abraham. (Palmerston North), Hugh D. Buchanan (Fnlmbrs'ton. North), I'. T. Moore (Johnsonville). John Balsilhe (Kairanga, Palmerston North), C. E. C. Ellingham (Makairo), Tlios. Hillas (Mauricoville), with power to add to their number. Mr. W. Nicholson is the provisional secretary. GOLD PKODTJCTION. The gold production of the Commonwealth during the first nuarter of the current year was approximately 610,276 flue ounces, as against 679,930 fine ounces in the corresponding period of tho previous year. Decreases are shown by all the States, notably in Queensland and Victoria. The figures for New Zealand show a slight increase. A comparison is given below in tabular form:— 1910. 1911. Fincoz. Fine oi. i'S 10 " 1 , 158,655 ' 136,623 N.S. IValss 51,179 42,090 Queensland 101,234 86,466 J\. Australia 355,562 . 332.097 S. Australia 2,000 2.CCO Tasmania 11.CC0 ' u.ceo „ , , 679.930 610.276 Jicw Zealand 106,136 110,739 786,066 721,015 The aggregate for Australasia for the first quarter is thus 65,051 fins ounces less than for the same period of 1910.

PHOENIX ASSURANCE. The report of the Phoenix Assurance h? m ?i an & n Ltd i' for the year en(led Deccn >- her 31, 1910. shows that in the flro deo.irt ment the premiums amounted to £1,410100 (net). Claims amounted to 49.7 per cent, and expenses to 38.3 per cent, of tho nrenimms, together absorbing £1,241,652. Inclusive of interest on the liru' runts' n, ou-n of £222,101 has besn carried to credit 3 profit and loss. In the employers' liability, accident and caneral departments the premiums received were £88.553. the claims £33.139. and tho expenses £26,700. The funds wero increased from £66,209 to £97,031. In the marine department tho premiums received from July 1 to December 31, 1910. ™ r <S n-, 10, , and , the claims and ' exDenscs £2062.. Ihe fund at tho end of the year stood at £7511. In the life department the new . business amounted to £1,814,074. of which £462,|C6 was reassured with other companies, and the life assurance funds were- increased by £133.607 to a total of £10,039,764. In the sinking fund and canital redemption department policies for mUB--853 were granted, of which £385,000 was reassured with other companies. The funJl at the end of the year was £229,614, showing an increase of £37,941. The operations of the year resulted in an, amount standin? to the credit of ~rofit and loss of £407,045. including £222,101 from the lire account and £70,903 interest not carried to other accounts. Out of this balance tho directors have set aside the sum of £125COO as an addition to the fire reserve, thus increasing- tho latter to £925,020 and the total fire fund to -E1.575.0C0. The director-; recommend that a total dividend of 355. per share, subject to income-tax, he declared in respect, of the year. 1910, and that an interim dividend of 12s. per share, free of tax, having been paid on November 1 last, the net balajice of 21s. per share he paid on May 1 next. The total funds of the company exceed £13,700,0C0. LONDON ASSUIiANCE. ' The report of the London Assurance Corporation for 1910 shows that in the life department new assurances were granted under 723 policies for £429,876. the nrcmiums on which amounted to £15,213. Reassurances were effected for £55.000 at nrcmiums of £1068. The net premium income was £184 - 663. against £179.135 in 19G9, and the total income from all sources amounted to £278--314. Interest earned was at the rate of £4 Is. per cent. The life funds on December 31 amounted to £2,494,655, as compared with £2,448,740 in 1909. The net iire premium income amounted to £657,415, and the claims to £300,258 (45.6 per cent). Out of the surplus of the year the lire fund was increased from £sffi,ofo to £6C0.000, and £43.970 was carried to profit and loss account. The premiums from accident and eenoral business were • £10,618, and the claims were £2603. This fund was increased from £8600 to £12,570. The marine, premiums were £326,584, and, after transferring- to profit and loss account £17,572. the marine fund was increased from £310,000 to £330,000. The total assets were £4,608,955, compared with £4,447,996 at the close of the previous year. The amount at credit of profit and loss account on December 31 was £147,969. out, of which fhc directors recommend n. dividend of 20 pel' cent, for the year, absorbing £89,655.

CUXARD STEAM SHIP CO. The report of Hie Cunard Steam Shin Co. for 1910 shows that a remarkable recovery has token place. The number of cnhiii n.ijsonsers constituted a. record in Ihe hfslorv of the company, mid the tola! receipts for the year amounted to £3,068.400. an increase of ,£M7,BCO, while miscellaneous receipts advanced hy JE.ie.CCO. On the other hand there has been a decline of £41,200

in expense;. so that the net revenue balance of .£1,274,600 now shown rcnrescnU an improvement of £327,CW, making, wit'i £7000 brought forward, a. total or £1,231,6r0 to be t'eatt with. The dividend absorbs •EBO.OCO, while the sum written off as-iinst depreciation. X-',71.2C0. is £94,700 in excess of last year's total. The balance of the discount on (ho Four and a Half Per Cenf. Mnrtgagc Debenture stock, amountins to £94,100, has been extinguished, and £100,CCO has been transferred to insurance fund, while £70.0C0 has been added tD reserve, leavinpr £60.000 to be carried forward, as against X7CCO brought into these accounts. Customs duties collected at the iwrt of Wellington yesterday amounted to £1589 Bs. Id. WHEAT. By Telegraph—Press Association-Copyriirht The' American visible supply of wheat i 3 56,267,000 bushels. SILVER. By Telegraph—Press Association-Copyright London, April 26. Bar silver is quoted at 24 1316(1. per ounce. TALLOW SALES. London, April 26. At the tallow sales 1092 cases were offered and 954 sold. Prices realised:—Mutton, fine 365.. medium 335. 6d.: beef, fine 345. 6d., medium 333. AUSTRALIAN MARKETS. By Teleiraph—Press Association-Copyrteht . (Rcc. April 27, ll.« p.m.) Sydney, April 27. Wheat shippers, 3s. 4Jd.; millers, 3s. 5Jd. to 3s. 6d. Flour, £8 ss. Oats: Algerian, 2s. 3d. to 2s. 7d.; sparrowbills, 2s. lCd.: giants, 2s. ,lld. Barley: English 2s. 3d. to 2s. £d.; Cape. 2s. 6d. to 2s. Bd. Maize, 2s. 4rt. to 2s. £d. Bran and pollard. £5. Potatoes: Tasmanians, £6 10s. to £7 ss. Onions, £2 10s. to £3. Butter, 6o\ Cheese, 6d. Bacon, 7d. Melbourne, April 27. Hides: Fair supply and pood competition. Prices are firm. Wheat, is. sd. to 3s. Ed. Flour, £8. Oats: Algerian milling. 2s. Id.; feeding, Is. 9d. Barley, malting English. 55.; Cape, 2s. sd. Maize, 2s. 3£d. Bran and pollard, £5. Potatoes, £4 6s. Onions, £1 15s. Adelaide April 27. Wheat, 3s. 5Jd. Flour, £7 ss. to £7 lCs. Bran, Is. 2d. Pollard, Is. 3d. Oats, 2s. 3d. LONDON MARKETS. New Zealand Loan and Mercantile Agency Company, Limited, have received the following cablegram from their London houc-e. under date April 26:—We ouote present spot values for tno following descriptions of tallow:—Fine mutton, 355. per 'cwt., good beef, 335. 9d. per cwt.; mixed, 335. per cwt. Have sold a, New Zealand parcel of wheat 335. 3d. c.i.f. The 'wheat market is (juict, but' steady, crop reports being unfavourable. The.outlook is uncertain for Continental market prospects. We quote: New Zcalaiid Wheat: Long-berried, 325. 6d., and short-berried,- 525. per quarter, c.i.f. For oats there is a, fair demand. Gartons, 18s. 9d.; sparrowbills, 17s. 9d.

MINING NEWS. WELLINGTON SHAKE MARKET. A quiet day, with only a moderate number of transactions was the state of the ruining share market yesterday. Talismans woro wcalt at the opening but recovered before tlic close of the day. The sales recorded were as under — . Tairna Broken Hills, Is. sd. (first call) • Is. sd. (second call). Talisman. SCs. 6d. (first call). Waihi, 625. (first call); 625. 3d., 625. 3d. ! (second call). Waihi Grand Junction. 275., 275. 3d. (first call); 275. 3d. (third call). The buying and selling quotations wero as under.— Buyer?. ' Fellers. £ s. d. £. s. d. Bremner's — 0 0 5 Con. Goldlields — 017 6 Dixon Consolidated - (| o 4 Dominion — 0 0 2 Kapanga 00 6J . — Kuranui Caledonian 0 10 0 13 May Queen 0 19' 01 11 Maortland 0 0 3 — New Sylvia 0 2 7 0 2 8 Occidental — 0 0 4 Old Hauraki 0 18 0 110 Saxon 0 2 1 0 2 3 Tairaa, Broken Hills 0 15 0 16 Talisman 2 11 3 211 9 'talisman (new) 2 5 0 — Waihi 3 2 0 3 2 6 Waihi Grand Junction .... 1 7 0 17 6 Wait.ingi 0 1 11 - Watchman , 0 2 2 — STOCK EXCHANGE. - (By Telegraph.—Press Association.) Auckland, April 27. Business done on 'Change this morning:— Now Sylvia. 2s. 7d. Occidental, i>A. Waiotahi. 25." 9d. Tairua. Mines, Is. 5d Talisirfait. £2 Ms. 9d., £2 Us. Waihi, £3 2s. Grand Junction, £1 7s. 3d., £1 7s. New Zealand Drug, £2 9s. 6d. The following business was dono at the 3.15 p.m. call:— May Queen, Is. 9d. Mount Zechau, ljd. Golden Cross, lid. Tairua Mines, Is. sd. Waihi, £3 2s. 'New Sylvia, 2s. 7d. Talisman Con - £2 Ug. Old Hauraki, "is. "9d. Coldon Cross. 10>d.. Hd. Occidental Con., 3'd. Waihi tiranl Junction, £1 75.. £1 "s. 3d. New Waitaia, 7d. Monowai, Is. Id. Devonport Ferry, £1 15s. Id. Duncdin, April 27. Stock Exchange sales:— New Zealand Drupes, £2 9s. New Zealand Paper Mills, £1 Is. Sales reported:— New Zealand Drues, £2 9s. 3d., new issue Bs. 3d. preni. Bank of New Zealand, £11 10s. New Zealand Paper Mills, £1 2s. I