COMMERCIAL ITEMS.

Dominion, Volume 4, Issue 1123, 10 May 1911, Page 8

COMMERCIAL ITEMS.

INVESTMENT SHAKES. 1 Sales were, reported' yesterday of National Mortgage at-£3 Bs.. and Gisborne Gas tt, £3\39.-3d. The buyir.c and selling quotations % for .investment shares were as under 1 Buyer», Seller* £s d. £ «. d National Bank 518 0 5 19 0 Bank New Zealand .11 12 0 — National Mortgage ...... 3.7: 0 . — N.Z. Loas and Mercantile .010- 6 ' — Gisborne Gas 3 3 6 • Wellington Gas (£10) . — 19 0 0 Standard Insurance 1 10 0 — • Meat Export (£4) — 5. 7 0 Meat Export'(s2s. 6d.) — 3 7 0 XJnion Steam 2 0 6- — ' Well. Steam Ferry (165.)... 011 0 - . •Westport * Coal 1• I o 18 9 Leyland-O'Brien 1„ 6 9 ~ n Manning and Oo — 5 2 Miramar, Ltd 'J N.Z. Drue ■ ' 3 6 N.Z. Paper Mills 1 ' 1 ,■ Taranaki "Pcitroleum . ... ■ — * Taringamutu Totara 21 1 210 0 WardVd 0> - Well. Opera House ; .*T' 0 1 0 '■ 'BANK OF NEW ZEALAND. For somo-time past there has been an active demand for the shares of the Bank of New Zealand, an.l investors to tree a good balance-shect and a. to'®?* dividend. The directors could, easily liaTO paid a larger dividend last year, but the.\ Ect themselves the task of building uo iv strong reserve fund, millio_ majk was -fixed as tho fair l'nut before the shareholders received an increased dividend. It is known that the bank ha_- donvery well during the past twelve months. a.nd, no doubt, occasion will be taken on June 16 (that beinc the. jubilee of the bank) to announce the increased distribution. The fact that the -staff has been granted a substantial bonus of 10 uer cent, indicates that prospects of a higher dividend are- satisfactory. . Last year tho bonus to the staff was only 5 per cent.- In December -"t the hnliyearly meeting, the chairman (Mr. H. Beauchamp) said: "With regard to our proiita for the haJf-yoar ended September 30, theso were unfavourably affected by diminution in earning power through the. substantial reduction in advances to customers in New Zealand. .. . . Still, our profits on the wholo have been very satisfactory, ana the net result is considerably better compared with the corresponding period in 19G9. Such being the case, we feel justified in declaring an interim dividend of 6 per cent, for the past, half-year, payable on the ordinary shares and on the preference shaores held by the Crown. If profits are maintained j (and I see no rear son why they should not be), I am hopeful that the opinion I expressed when I had tho pleasure of addressing you In June I last, c-5 to the return you are likely to ect at the close of the current financial year , will be realised."

BANK AUSTRALASIA. , The Right Hon, Alfred Lyttelton, M.P.. presiding at the half-yearly meeting of shareholders of the Bank of Australasia., stated as ' follows:— "The outlook appears to ho entirely satisfactory. Tho prices of woo! are well maintained, and we have just received a telegram from Australia informing us ■ that excellent season conditions continue. I would observe, in conclusion, that, although the necessities of taxation in tho Commonwealth ar.d Dominion exact a tribute from us of over £15,0(0 each halfyear, we may permit ourselves to dwell with satisfaction on the increased energy which has been shown in the Commonwealth in promoting immigration and in providing a- fleet unit to form part of tho Eastern Fleet of the 'Empire, at a cost which, I think, will ultimately amount to something like £750,000 a year to the uommonwcalth. In addition to this, Hew Zealand, as you know, has made the splendid gift of an armoured cruiser of the "Indomitable" type to the British Navv. and has undertaken to make, unconditionally. an annual contribution of £100.tc0 to the Navy. (Applause.) Without going into further detail, which would be misplaced here, I may say that both the Commonwealth and Dominion, while making arrangements which maintain their fleet unit in Australasian waters in times of peace, and aim ultimately at manning them completely with Australian and New Zealand seamen, place them at tho disposal of the Admiralty i:i war time, and then bring the vessels under the control of the Naval Commander-in-Chief.' These ore measures which have a croat Imperial significance, and nttc;-t the strength and vitality of Imperial aspiration, and if, as is inevitable, the cost is heavy, I am sure that you and the directors, on behalf of the Bank of Australasia, will be the first to cheerfully shoulder her proportion of the burden." TVAIIII GOLD MINING COMPANY*. The. fiiral accounts ol the Waihi Gold Mining Company, Ltd., for the y.«ar 1910 show a Bross proflt 0 f £559 000, as against £6„6,0CC for the previous year. The expenses of development during the year amounted to £20,0(30, as against £13.000 in 1909. Dividends of SO per cent., or 16s. per share, amounting to £396.726, have been paid during the year, and the addition of K4.2E0 income-tax in England and New Zealand makes r. total of £441,0C0, as against £435X00 last year. The sum of £18,500 for capital expenditure (as against £37,000 Inst year) and £37,000 for depreciation at the rate of 10 per cent, (as against £37.000 last year) have be=n provided out o' revenue, and in addition the sum of -E30.0C0 has been provided towards the new hydroelectric scheme, leaving a balance of £57,700, which tho directors rccommeiul be earned forward. Tho meeting will be held at the Cannon Street Hotel. London, on May 18. Customs duties collected at the port of Wellington yesterday amounted to £1764 12s. Id. TRADE IN ALLEN STREET. Chaff.—The. market has advanced considerably. the prices locally now b?:ng £5 ss. to £5 15s. per ton. sacks in, acroniing to i>iiality. Supplies arc being fully received from tho Wairarapa and Marlborough districts. Oats.—The market continues firm, prices ranging from 2s. lCd. to 3s. 3d. per bushel, according to variety and oualitv. Maize continues at 3=. 2d. to 3s. 4d. per bushel. The demand is fairly heavy, and has been stimulated by the colder wcat'er prevailing.'.,,

Fowls' Barley.—Very little business is doing in this lino. Fowls' Wheat.—Southern markets have advanced fully 2d. per bushel; the Wellington quotation is now 4=. to <s. 2d. uer bushel. Uyecorn is dull of sale. Pollard.—No supplies are now coming from Australia, owing to the heavy udvanco in valrys tint has taken place there. New Zealand noUard is offerinc at £7 to £7 ss. per ton. Bran has advanced Ids. per ton, the current quotations being £5 10-. to £5 15s. Onionis.—A good demand exists for prime table onions at £4 10s. to £5 per ton. Potatoes.—The market is well supplied, prime quality making £5 ss. to £5 10s.: mucli lower rates have to be accepted tor blighted and iuothy sorts. Butter—Tho market is strong for prime milled in bulk at 10d. per lb. Cheese—Tho market is very much firmer; fair sales of medium have bee:: made alt 6,' d. to 6*d„ whilst loaf is selling at 63d'.- to 7(1. jrer lb. Eggs.—Fresh eggs have declined 2d. ner dozen, to-day's value heme Is. lOd. A further fall seems probable. Vegetables—Cabbages have advanced, and are quoted at 4s. to ss. per sack, according to quality; French beans make 6s. to 9s. per half pack; swedes are in fandemand at 2s. 3d. to 2s. £d. per cwt.; beetroot, 3s. 6d. to 4s. 6d.-per sack; carrots, and parsnips are bringing 4s. to Es. Ocr sock, and consignments arc recommended. Fruit.—The Talune arrived at Auckland with Island oranges and bananas, but, unfortunately, mireed connection with the boat leaving Auckland on Saturday, consequently the fruit, will now lie in tile northern ci-'.v until Tuesday, and will not arrive here nnti! Friday. Choice de.\ert pcarg are in strong demand, and -consignments a.rc recommended: tho same remarks apply to choice coloured dessert apples, which aro selling at Bs. to 10s. South Australian lemons are in heavier supply, and the ouotation now is 12s. to 14s. per case. Adelaide grapes are meeting with keen competition, and prices range from 12s. to 16s. ffhe market for tomatoes is exceedingly strong, prime Ilutt-grown realising ss. to 6s. per half-case. WHEAT. By Telegraph—Press Association-Copyright London, May 8. An Australian wheat cargo sold at 355. 3d. LONDON QUOTATIONS. By Telegraph—Press Association-CoD.vright London, May 8. Stock Exchange quotations include:— AVaihi Goldmining. 63n. 9d. (buyers) and 665. 3d. (eolloTs); Grand Junction, 265. 3d. (buyers) and 275. 6d. (sellers). : ! 1 1 ' i