COMERCIAL ITEMS.

Dominion, Volume 4, Issue 1143, 2 June 1911, Page 8

COMERCIAL ITEMS.

INVESTMENT SHARES. -'A'sale'of Taranaki Petroleum shares at 18s. was the only transaction recorded in investment shares yesterday. The buying and selling quotations were as under:— Buyers. Sellers. £ 3. d. £ s. d, National Banli 5 19 0 - Hank New Zealand 11 H 0 „- „ AVell.- Trust and. Loan ... 7 13 0 7 16 0 Wellington' Deposit' 08 3 ■ -- Palmerston Gas - , 9° ° South Uritish Insurance 3 8 6 — Gear Meat (£4) • - 1 3 , 12 C J Meat Export (525. 6d.) - 3 5. 0 N.Z. Shipping - 11 16 0 Union .Steam — ; J X Well. Woollen (ord.) — 4 2 0 Taupiri Coal 1 J J — Wcetport Coal 18 9 — D.I.C. preference 13 0 — Lcyland-O'llricn 17 0 " ■ Jtlramar. Ltd. ...: - 0 2 6 Kharland's ■• preference ... 1 4 0 - Taranaki Petroleum 0 i 7 S 0 IB o Ward and Co 5 0 0 - BANK OF NEW SOUTH WALES. The balance-sheet of the Bank of NewSouth Wales for the half-year ended Mare.li 31 last will bo found on another page. The figures again disclose the prosperity of Australasia, for the bank is represented in every State of the Commonwealth, and in New Zealand. The outstanding feature of the balance-sheet, compared with that of a year ago. is the increase of nearly three millions in the deposits—more largely in fixed deposits than was the case last year.- Tho principal operating cause, according to tho .president of the bank, "is the continuous prosperity of the producing interests.- arising from good seasons and good prices. This increased liability is covered by a substantial augmentation of the money held in London, and remittances in transit thereto. Advances increased by nearly £2,100,000, which is a rather largo expansion than has been usual of late the adoption of the report, the president pointed out that the liquid assets of the bank totalled £21,3?5,CC0, berns very nearly half of the total assets of the bank, andrenreienting at least IDs. in the £ of its liabilities to the public. The following table discloses tho progress made:— Half-year ended March 31. 1910. 1911. IB £ Profits' ..:..'....' 1E3.938 204,373 Dividend per cent.- 10 10 Amount of dividend ... 125,000 143,457 To reserve' 50.CC0 53260 To- officers' .provident • fund S.CCO - Forward .". 49,6« 62.113 ' LiabilitiesCapital paid up 2,500,000 2,913,820 Deserve fund 1,700.C09 1,895,735 Notes U«,153 1,218,534 Deposits 30,348,550 H.265.W Bills payable, etc 4,330,772 5,511,055 ■ Assets- ' Coin and bullion 8,959,933 8,639,803 Australian -notes /... - 1,351.687 Money in London 2,370,000 2,831,862 Kemittances in transit, etc 4,515,808 4,739,010 Advances ■ .-.-. 20,561,443... 22.932,202 Bank premises .-. -706,500 740.0C0 Govt. securities, etc. ... 2.791.6C0 3,285,555 , TAEA-SAKI..OIL. The option granted to Mr. Henry, which covers a period of six months on a deposit of £20C'J, is very certain to be exercised. Oil company registration has been active in Great Britaiu, and in April tho registrations included the i'ranco-firitish Oil Trust, with a capital of £250.000, to carry on u general financial business; tho Asiatic- ■ Petroleum Company (Egypt), with a capitalof £M0,t00; the Central Ohio Oilfields, capitalised at £160.6C0; the Western Pacific Oilfield, with a capital of £30,1*0; the Venezuelan Oilfields Exploration Company, witli a capital of £167,5C0; one iVc-et Coast Oil Fuel Company, with a capital of £100,000. There is thus every evidence of a mild boom,, and the .Taranaki coiieom is certain to be taken up. The price to be paid to the Taranaki Petroleum Company works out at about 12s. per share cash, and ono fully paid-up share in the new company for every two now held. The sale is practically at 225. per share, and -it is believed that the company could have done betler. Mr. Henry pays £ICO,CCO, and the company could have had an offer of £140,000 from a syndicate equally as strong as tho one with which Sir. Henry is ' associated. If tho new company is capitalised at £400,000. or even £300,0C0, it will be grossly over capitalised. It is most likely, however, that tho capita! will be £300,000. in £1 shares; 150.G00 shares would have to be issued to provide the stipulated working capital of £100,CCO, ami the cash payment to the present shareholders of the Taranaki Petroleum Company (50,000 shares) will be needed for distribution to the Taranaki shareholders, and tho syndicate will no doubt want ICO.OOO shares to repay itself for securing the option and floating the company. The pain to New Zealand will bo substantial in that we will have expert management and adequate capital to develop an oilfield that, has been proved, and that gives promise of being permanent. It remains to be seen how the new company will bi> affected by tho cvcr-prcscnt labour question. .Custom; duty collected ■at tho port of Wellington yesterday amounted to £5013 7s. 7d. • . . TALLOW SALES. By TclcEraDh—Press Association—Oopyriaht London, May 31. At the tallow sales 1303 casks were offered and 546 Enid. Prices realised:-Miitton, iinr 365., medium 325.; beef, fine 335. 6d., medium 31s. 6d, . METAL MABKETS. By Telegraph—Press Association—Copyrleht London, May 31. Bar silver is quoted at 24 9-16(1. per Copper.—For forward delivery, £55 16s. 9d.: electrolytic, £57 ss. Tin.—On the spot, £205; three months, £188 ss.

AUSTRALIAN PRODUCE MARKET. By TelcsraDb-J'resb Assbciation-Copyrijhi (Kce. June 2, 0.5 a m.l Sydney, June 1. Whcit.-Shippers offer 3s. 3»rt., but sellers want 3s. 4Jd. to 3s. sd. Flour. £8 10s. Oat:.-, Algerian feeding, 2s. 3d. to 2s. 5(1.; Meeting, 2=. 7c1.; SparrowbUls, 2s. ICd.; Giants, 2s. lid. Barley, Cape, 2s. 6d. to 2s. 3d.: Enslisli, to 2s. 6cl. Jtnize. 2s. 7d. to 2s. Bd. Bran and pollard, £5. Potatoes, Tasmaiiians, £5 to £5 lCs. Onions. £i 1C?. Iluttcr, 925. Chees-e, 55d. Bacon, sJrt. to 6cl. Melbourne, June 1. Wheat, 3s. JJd. to 3s. srl. Flour. £8. Oats. Algerian, 2s. 2d. to 2s. 31(1. Tlarloy, malting Chevalier. ss:; Cape, 2s. sd. Maize, 2s. Jill. Dr.an and pollard. £5. Potatoes. £3 Ik to £5 15s. Onion?, £1 10s. to £2 2s. Adeialde, June 1. Wheat. 3s. 5d.. Flour. £7 lCs. to £8. Bran and pollard, 13d. / MELBOURNE HIDES MARKET. By Telegraph—Pres3 Association-Copyrie'ht (Rec. June 2, 0.5 a.m.) Melbourne, June 1. Hides were in fair supplies to-day, and there was a, keen demand. Prices were firm. MINING NEWS. WELLINGTON SHABEMABKET. The quietness of the mining market may be judged from the fact that not a single transaction was recorded yesterday. S.iler, may have been made, but they were not disclosed at tho meetings of the Exchange. Tho buying and selling Quotations were as under:— Buyers. Sellers. £ s. d. x e. e. Blaekwatsr - 17 9 May Queen 0 15 0 16 -Vcw Sylvia 0 2 -9 0 2 10 Occidental — 0 0 41 Saxon 0 1 10 0 1 11 Tairu.T Mines 0 16 0 10 Talisman 2 10 6 2 10 9 Waihi (ex div.) ....: 3 0 6 3 10 Waihi Extended — 0 17 Waihi Grand Junction .... 16 3 16 6 WaiUingi 0 2 1 0 2 3 Boss Reconstructed — 0 2 0 Waihi Paeroa 0 9 6 0 11 6 STOCK EXCHANGE. (By Telegraph-Press Association.) Auckland, Juno 1. Business done at this morning's call of tho Stock Exchange included:— .Saxou, is. 10(1. Victoria, IM. Waiotahi. 2s. «. Tairua Golc'en Kills, lid. Talisman. £2 ICe. Cd. Grand Junction, £1 6s. 3d. Taupiri Coal (sales), £1 2s. 6ii. ' The following business was done at the 5.15 p.m. coll to-day:— Occidental Consolidated, 4d. Saxon, • Is. 10rt. Golden Cross, 10d. Tairua fialdon Hill. Is. Tara.naki.Oil, 17s. 3d. Waihi (ex div.). £3 Cs. 6d. Waihi Grand Junction, £1 6s. 3d. Old Hauraki. 2s. 3d. Talisman Consolidated. £2 10s. 3d. Wilson's Cement, ford.). £2. Union Steam. £2 Is. Cuncdin, .June l. Dunc-rlin Stock Exchange sales reported:— Waihi (cum div.). .£3 '3s. N.Z. Insurance, £4 7s. Milburn Lime, £2 os. 6d. Wcslport-Coal, £1 9=. 6d.