COMMERCIAL ITEMS.

Dominion, Volume 4, Issue 1154, 15 June 1911, Page 8

COMMERCIAL ITEMS.

INVESTMENT SHAEES. A sale of D.I.C. preference chares at Ms. was the only transaction recorded yesterday. The buying and selling quotations we're as under:- nwra _ us. £s. d. £s. d National Bank ■ ®,® jj ~ Wellington investment 0 U b Well. Trust and Loan ... 7 12 6 7 16 u Well. Deposit Of n 5 Christchurch Gas 9 1a 0 Gisborno Gas 30 0 12 0 Well. Gas (new) 3 0 0 Moat Export (£5) 6 4 0 - Meat Export (535. 6d.) ... - 3 6 0 Union Steam 20 6 ji j Well. Steam Ferry (18s.) 013 6 018 0 Well. Woollen (ord.) -. « " u Well. Woollen (prof.) 3 0 0 Wccrtport Ooal }90 196 D.I.C. preference . J S LeJ'land-O'Bricn 'J " „» . Miramar, Ltd o^o Slinrland's. preference ...110 Taranaki Petroleum - " " « Taringamutu Totara ... - ' lu u NORTH BEITISH INSUEANCE. The report of the North- British aiid Mercantile Insurance Company Cor 19.0 shows the following results:—lhe net fire nrcmiuma amounted to £2,2C8,607, as compared with £2,192,665 in 19C9. The net fire losoc. amounted to £1,101,912. The profit on the firo account (exclusive of interest) amounted to £323,509. At December 31, 1910, the amount at the credit of profit and loss account was £1.257.794, out of which ( tlie directors recommend the payment o* _ a dividend of £2 per share, subject "to 111* come-tax, leaving to bo earned forward, after payment of preference dividend on January 1 last, £1,057,574. One-half of the dividend is payable on Jiay la. ana the other half on November 11 next. JAJIE3 KELSON AND SONS. The report of Messrs. James Nelson and Sons, Ltd., for the year, 1910, is of interest to its, for the figures deal with tho frozen meat trade of Argentina. According to tho report tho average cos„ ol all classes of live stock in tho Argentine, ruled higher than in tho previous year, wit.i little, if any, corresponding rite in retail realisations. The fluctuations m value on the wholesale markets were at time:; abnormal, and exercised a decidedly aisturbinf influence on the retail trade. I lie directors feel pleasure under all the circnn;.=ts.nccs in being able to show a tradins- profit of £72,714, which they, venture to* hop" will lie considered satisfactory. The net profit for the year, after setting aside £10, COO to a marino insurance account, was £37,273, which, added to .£j6,42» brought forward, makes -a tolal of £83.703 to bo dealt with. The directors rccommcitd that out of this amount the. following dividends for the year bo declared— namely,'? per cent, on both classes of preference shares (of which an interim dividend of 3 per cent, ha? been paid), and 7J per cent, on the ordinary shares, loavin" £47,203 t-< be carried forward. The usual provision for depreciation has teen made m tho profit and loss account, and the entire cost of maintaining in an cmcicnt condition all the properties of tho company has been paid out of revenue. BUTTER STATISTICS. Statistics havo boon compiled by Messrs. W. Weddel and Co.. Limited, of London, showing tho quantities of butter received into tho United Kingdom from outside sources. The figures relating to the imports from tho Australian States and New Zealand for the ton months to April 30 are given below:— ' 1909-10. 1910-11. cwt. cwt. Victoria, 249,359 362,194 N.S. Wales 155,562 201,210 Queensland 83,444 S. Australia. 14.955 .>0,673 ' Commonwealth ... 504,320 t ' New Zealand 258.512 304,192 802,032 1.CC8.251 Tho increase Is very substantial, and it should be noted that Australia is sending mote than twice the quantity of New Zealand. Tho single State of Victoria shipped uinro during the period than the Dominion. ' NOTES. Land in Nyassaland, suitable for teagrowing, is being leased by tho Government at 6d. per acre, and sold outright at 10s. Tho Imperial Post OfEce at Canton last year handled 641 local delivery letters, 3.222.CC0 ordinary letters, and 124,100 parcels. Canadian bank deposits increased £11,855,6<9 during 191U, and on December 31 amounted to £188,983,722. The Canadian bank-note circulation increased' £1,299,298, and amounted to £17,81^,747.

A land boom is iu progress in Argentina, and rural lands in eood districts, which 3D years ago could 1)3 purchased at id. per acre, now command from .B5 to £6. 'ihc report for 1910 of the Division of Kural lioonomy and-Statistics shows that during that vear rural properties with the aKWi;-gat-c "area, of 3,Y85,<!-34 hectares (21.VcU.atO acres) were sold lor the, aggreKate amount of 19/,693,75 i dollars mm (nearly £17,300,000), or 16s. per acre, that covering all provinces. In the province of liuenos A3TO3 tho average was £11, but in some of the remote provinces it averaged only about is. tits over 1989 was about £2CO,CtO.

Deposits in the savings banks of the United KinKdoni arc increasing l'astor th-iu thev did a few years back, in 1896 there was an expansion of as muck as iII.GIV.CGL' ill those deposits: but tho increase dropped to j£0,354,CC0 in 1901, and to only £638,000 in 1907. Tiiore was a recovery of £2,715.110 in 19C8, and in 1989 tho increase was £4,414.tt0. In 1910* tho gain was £5,704. CCi), and tho total deposits now stand at £224,178,634, of which £172,249,£02 is in the Post Ofiicc Bank, and £51,929,132 in the trustee banks. In addition to these deposits (which aro ail invested in British Government stocks!, the liritisb Government baa invested £26,165,965 in Government stock in the names of savings bank depositors, and those investments have also increased by £1,722,C00 in the past year. Altogether, tho British Government holds £250,344,599, of 'saving hanks' money. Russia, it is stated, is seeking to interest foreign capital, including Eritish, more extensive!}- in her commercial enterprises, and it must be admitted that the territories of tile Tsar offer a wide and probably a. remunerative field for the employment <i capital, provided the management is sound and unfettered. Germany and Franca tavc both in tho past assisted Russian ii'.'.-.H-r----takings. But England has dono comparatively little in that direction bejor.d assisting with railway loans, and r,inning petroleum properties and p. few imecs, which have not. a:, o. whoio been profitable. What Russia has to learn is how to remove tho fetters, and they have become ro much a part of her system that iho prospect is not too encouraging. However, U\.V country is not the miiv one wh.cj checks the investment of British capital. Customs duties collected at the port, of Wellington yesterday amounted to £4770 16s. sd. THE aIETAIi MARKETS. By Telegraph—l'ress Associatkiii-Coo.rrieb: London, Juno 15. Copper.—On the spot, £56; three months, £56 Us. 3d. Tin.—Oil tho spot, £229; three months, £231. Lead. £13 55.; imports, 19,063 tons; exports, 7177 tons. Silver.—Har silver is quoted at 24Jd. per ounce standard. WHEAT. An Australian rargr, of wheat sold at 335. Cd. per (iimrter. CONSOLS DECLINE. Consols arc quoted at £79 12s. 6d., as against £60 on Wednesday last. COLONIAL SHARES. By TelcEraph-I'iess Association-Copyright London, Juno 13. Colonial share quotations show no change from those of latt report.