COMMERCIAL ITEMS.

Dominion, Volume 4, Issue 1219, 30 August 1911, Page 8

COMMERCIAL ITEMS.

• INVESTMENT SHAKES. Sales of Taranaki Petroleum shares at 16s. 3d. and 17s. were ths only transactions recorded yesterday. The buying and selling quotations "were as-unto:— Buyers. Sellers. £ s. d. £, s. d. National Mortgage 3 10 0 — Well. Trust and Loan ... 7 9 0 - CUristchureh Gas 9 11 6 915 0 Fending Ga3 1 Z 0 — Well. Gas (rights) 0 0 3 0 10 N.Z. lasurn.nco 4 9 0 — Standard Insurance 111 9 — Christchurch Meat — 16 2 6 Union Steam — 2 2 0 Well. Woollen (pref.) — 3 2 6 Hlkuranpi Coal 0 19 0 10 0 Taupiri Coal — 119 Westport-StocUon — 0 19 N.Z. Paper Mills 10 6 - Sharland's ordinary — 14 9 Tarnnate Petroleum 0 16 9 0 17 0 Tarinsaiuutu Totara — 2 8 0

TJKION BANK OF AUSTRALIA. The rermrt of the Union Bank of Au"-trali-a. Ltd. for tho half-year to February last, states that, after provision for doubtful debts and contingencies, there is a net profit of £177,189, inclusive of £41.362 brought forward. The directors have made the following appropriations, namsly:—£lo,CCo in reduction of bonl; premises account in tho colonies and £20,C00 as an addition to tho bank's rerarve fund, which is thereby increased from .£1,330,280, to f U50.C00. From the balance remaining (£147,189) the directors havo resolved upon the declaration of a dividend at the rate of 10 per cent, per annum cnnal to £1 is. per share and a, bonus of 2 per cent., eoual to 10s. per shire, the dividend and bonus together being at tho rate of H per cent, per annum, and amounting to £1 15s. per share, absorbing £105,000 aud' having £42,189 to be carried forward. The directors have to report that weather conditions' throughout Australia appear, with few. exceptions, to be highly satisfactory, and that prospers Renerally arc excellent.

A.M.P. SOCIETY. The report of the third investigation into the mortality experience of the A.JI.P. Society for the 55 yesirs. 18<9-19(>3, ha-s been circulated, and, though somewhat belated owing to the work having to bo carried on in such leisure time aG could be spared from tho ordinary business of the office, is "nevertheless interesting. Tho lives dealt with on this occasion, hoth healthy and loaded, under the various policies of the ordinary life business, were as under:— Total. Per cent. Existing 159,787 52.73 Discontinued 122.225 49 37 Died 20,733 6.85 5C2.746 ICO.CO It is t.he practice of the society to accent lives not up to the standard, with an addition of a certain number of yonxf to the ace. In this investigation a determination has been made of the mortality csticrionco amongst lives assured under ordinary whole life policies:—(ll Dealing only with lives wh:-:h have all been accepted at their true ages: (2) dealing with all lives, whether accepted select or with additions to the ages, but assuming that they have all been accepted select. Furthermore, all experience shows that thore is a considerable divergence between the rates ot mortality obtaining anions; whole life anu endowment assurance policies, even when lives of equal age (and assured for equal period?) are compared. It was, decided to make separate determinations of the experience among wha'.o life and endowment assurance policies. In the whole tito, hca.Hhy male table, the data comprised 101,871 lives, covering 900,199 years- of exposure, with nn average duration of 8857 years, and 6259 deaths. The table was graduated by W'oolhousc's method, and a comparison was then made between the expected and actual deaths, tho former cooing out .it 8257. or a difference of two only from the actual . In the endowment assurances'health males' table, the data romnriscd 116,101-lives, covering 921.162 years of exposure, with nn avcrneo duration of 7934 years, and <!239 deaths. The data, did not lend themselves to a graduation by Woalhouse's method, -ird resort. was had to the graphic method. The expected deaths were 'VIA. Jlr. "Richard Teece, actuary of the society, has presented ?. remarkably clear report, which is intelligible to tho ordinary reader, and which m\ut be of great value I? r.ctuaricn and othrrs interested hi life assurance. GOLDEN BAY CEMENT CO. The fourth annual report of the dir/otors of the Golden Hay Cement Works, Limited, states that Mr. 11. W. And-erson, 0.K., the company's consulting engineer, recently visited New Zealand arid inspected the plant, and the board was indebted to him for valuable information relative to the working of the plant and undertaking. •'The cement turned out.is excellent," the report statfs, "arid great care is being exercised by tho management to ensure only a first-class article leaving our works. Tho erection of prnient plant has taken longer than your board anticipated, principally due to delays in shipment of materials ,ind plant, and to the fact that your directors have made wveral important, additions to the plant and hauling gear, all the latter being in. tho direction of securing economy in working. The electric plant and motive power has been cspcdiUously erected by

Messrs. TuriibirU nr.i Jon:>=. Limited, of Wellington, nnd ha , -, run without a hitch. It is expected to have a quantity of ..'o;nent iTiidy for the niitrlti't in a few days."

The directors have recently :iulhoris:<l the fame of debentures to the esten" of .SZS.OM *9. flin.roholdi.Ts only, acd there still remains soniK available. As these bear 6 per cent, per aiinuni, free of taxation, thi! directors think they should be an nttractive invcstmeiit. Bnring the year fresh articles of were, adopted by the pharcholders. Jles.'rs. John A. Plimmor and George Wilson, retiring directors, being eligible, offer themselves for re-elec-tion. The auditor. Mr. E. Bucholz. also retire?, and is eligible fer re-election.

HANCOCK AND CO. (NEW ZEALAND!. The report of Har.cock ar.d Co. INeu Zealand), Ltd., for tho yea.r March 31, 1911, states tint the profit for the year, after providing for all management, v.orhintr expenses, and incoaie-tax. amounted to £26,330. To thi-> has to bo ndderl tho amount broucht forward of ,£f327, miking a total of £32.558. From which have to be dsdtictcd debenture interest, £7150, depreoiation of leaseholds, plant and machinery, casks, etc., and reserve for denbtful debts, £ffll. The directors prepose to pay a, final dividend an the ordinary shares at the rale of 8 per rait, per annuni. ru?,kii)fr, with the interim dividend already paid. 7.per cent, fer the year, to place to Eener.il resorvo Imakins this reserve .£15,CPO) £SCOO, and to carry forward £555-1

TRADE IS ALLEN STREET. Pollard.—Fair business is passing at £6 to £6 55., ex store. ' Bran.-The market continues steady at Eicemcal has fair inquiry at £4 155., and ncoflour at £5 15s. Flour is without any change in value New Zealand be=t brands £8 10s., second grade £8 ss. per ton f.o.b. south, less the usual trade discount. Potatoes.—Heavy stocks are available. Oood table potatoes are felling at £4 2s. Cd. to £4 7e. 6d.; seed potatoes, TJp-to-date, £5 to £6; Beauty of Hebron nnd Farly liosa at £9 to £9 10s.; Northern .Star, £6; kidnevs £8 to £3 1C?. Oniop?.-The market is well supplied yjith Victorian grown; the current value is 6s. to 7s. pc-r cwt., according to quality. Oats—The market continues firm. "A" Grade Sparrov.bills, 2s. Bd.; "A" Grade Gartons. 23. 8«d. f.o.b. south. Maize—The demand is slightly easier at 3s. 2d. to 3s. -Id. per bushci. Fowls' barley is 'dull of sale at 3s. 3d. td 3f. M. por bushel. Cape barley finds little sale at 3s. 6d. to os. 7d. Eyecom.—The demand i= poor at 3s. 10d. per bushel. Baled Straw.—Prime ouality meets with steady demand at 60s. "to 655. per ton. Baled Uriy.-Jteadow i= selling at £4 ss. ta £i 10s., and clover at £5 10s. to £5 per ton. Fresh oprgs have declined further, and are now realising lCd. to lOid. per dozen. Cheese.—Best factory, 6id.; loai", 63d. per lb.

Lard is in steady demand at Bd. in bulk and Bivl. in pats. Margarine meets with fair sales at SH. to 9d. Itams nnd bacon arc in cxceU'«ni diimand. Sides. BJil.: hamr,, 9d.: roLlf. 9Jd. nor lb. .' Poultry is selling well. Hens, 3s. to 45.; cockerels. 3s. 6d. to 5«.; ducks. ss. to 6=. per pair: turkey gobblers, £d. to 9d.; liens, 6d. to 7d. per lb., live weight. .Vegetables.—A fhrjri) decline has tikr.n 7>lr.co in the values cf cabbaccs and raiiliflowerp. O.i.b"i)ages arc- now Eol'.in'r at 4s. to Bs., according to finality, whilst cauliflowers range from 6"i. in 11.=. per ;.wck. Parsnips are in eood demand at ss. 6d. to 63. 6d. per rack, carrots have a value of 4s. 6d. to ss. 6d.; niimpkim are in strom demand at 10s. to 135.; swedes are dull a,t 2s. to 2s. 6d. per cwt.; choice celery, 3s. to 4=. por dozen. Fruit—The Talune, from the Cook Islands, arrived n.t Auckland late on Saturday, consequently the consignment of fruit by her was held for transhipment yesterday, a:id will not reach this market until Friday. The Mo.-ina., due from Sydney today, is bringing the usual shipment of oranges, mandarin?, pineapples, lemons, nnd p.-.ssion fruit. Apples aro in excollpnt demand, and extreme prices axe beinc: obtained. Consignments of Kcw Zealand grown are recommended.

Customs duiios collected at the port of Wellington yesterday amounted to £4967 Us. Jd." SILVEU. By Telegraph—Press Association-Copyriffht London, August 23. liar silver is o.uoted at 24 M6d. per ounce. WHEAT. By Telegraph—Press Ajfxjciation—Copyright (Eec. August 29, 11.5 p.m.). London, August 28. Wheat.—Two Australian cargoes Save been sold at 345. 9d. and 345. IOJd. respectively. KEJIPTHOKXE, PEO3SEE, AND .CO. (By Telerraph.—Press Association.) Dunedin, August 29. The directors of Kompthorne, Prossev, and Cα, New Zealand Drug Company have declared .in interim dividend at the "rate o' , 7 per cent, per annum. GRAIN , ASD PRODUCE. (By TelecraDh—Press Association.) Christchui-ch, August 29. The local wheat market is ajoin quiet as there is little doing between merchants, ami farmers arc not offering any grain. Oats are still firm, and axe inquired for, but they arc very difficult to obtain. There is a 'ittle more inquiry for chaff, the-prices still remaining at 80s. at country stations. The potato marko*. is very nuitt, and no more is expected til! the northern markets have absorbed tho heavy stocks that have lately eono forward.