COMMERCIAL ITEMS.

Dominion, Volume 5, Issue 1248, 3 October 1911, Page 8

COMMERCIAL ITEMS.

INVESTMENT SHAKEN : A =.ilo of Wellington Gas (ritrhts) t; nreferciM'.c shares nt sfl. was Hie onl> traus-Mtion recorded i" investment slwe. yc-tenlc.y. Tim Imyinn and tcllini; quotn (ions were as under:— Buyer?. Scllcrp £s.d. £.«.d B:uilt Xew Zonliml - II 5 I Well Invustmc-iit, Cll 9 - WVll. «aa (£10) - 19 0 f Well O.is (rights) 0 0c 0 0 i Union Ktram — 2 0 1 Tiinpiri Coal - 12 1 V.'estport Coal 18 6 Lcyliind O'llrien 18 9 Sharlaiid's ordinary - I j I Taranaki Petroleum — 018 ( I KotuliU Oil 16 6 -

"south ruuTrsir insurance. The South llriti'h Insurance Company hiis had a very iirofltalile year to Aujriist 31 IT-t. Tim underwriting profit totalM £52,147, equal to 53 per rent, of .th? paidup capital of £lt-o,(.iXi. 'liie in:""-- iigurcr, show as under:Premium income • s "'i'i:s r, 0 5.- 01 IS7.Ej2 iSpcnres ■" ..: 103.251 Underwriting profit 52,117 The losses were csiii.il to 54.72 per cent, of the premium iu-.-i>ii.'. L . The. csiw.v.-.os were 30.19 per cent., and the prnlif was 15.19 per cent. To tn? unilei-K-ritiair proiit of .£52.147 mu.4 lie :i;ii!cd the iii.MiiK- from intcro.-t and rent-'. ii5.L27. o;- Mifiiciaut tu pay the dividend of is. 6.1. per .-lure, .ind the amount br.>ir,'\it r..r.v.-i;d from th? previous yenr -"Jli.fil, linking n tiuul of £112.971, ami this ha, lieen u.llo«Ued as under:— Dividend 3a. (id. per share ... 35.CC0 Bonus to staff 0.550 Officers' Provident l-'uml •■'.x'a JJiwrrve fund <C,:r!) AVritten off leaseholds -'£5 ■ Written oft. office furniture ... 2,1-la Carried forward J.,jiq 112,971 The company's investments' appear to lie well spread, and iucludo loan? on nioiv g-u;» £222 690- fixed, deposits. .CCS.KO; ctoMw anil debentures, £31.712; mmiieipa! :iirt harbour hoard debenture.'?. £=I,<M; (loyornment, securities, .4>50,«0: cash nnd bill? in tran.utu. £29,182; and balance-; at br.ir.ches and 'agencies, £n,iw. STATE NOTES IN NEW ZEALAND. Commenting on the projected issue of notes liv.thc Government of Now Zealand, the "Sydney Daily Telegraph," in a recent issue, offers the leilinvin;,' common-Is :-"!t would appear that the Now Zealand bank* are not very keen upon retaining their note issues as. tome years back, the tax was advanced from 2 to 3 per cent., and it practically too!; all the profit out of them. The note circulation in New Zealand i= in the aggregate .SI.7CO.CCO. but conMClerab'.y more than half of it is issued by the Bank of New Zealand, in whi"h, by the way, the Government is an important shareholder. Let us suppose that the banks took up J3.CCO.CCO cf -the Go'-onimer.t notes, raying for them in gold', and that, the New Zea'.iiul Governmoiit retained 50 per cent. (£l,£CO,ffiO) in coin against them. It. wnnld set. a loan of £1.5M.CC0 free of mtsrost. lint would lose about I per cent, upon printing ana maintaining the 'note;: in presentable i*ondition. At present it draws, f-ay, £51.CC! a year from the note tax, which would hi lc.-'t, piu*. say, £15,CC0 a. year In maintaining the not?, or together £56,CC0. On the other hand, it would gain, say, £55,2'( a. voht b v pnyinsf no interest upon £I.sCC.fcb, taking the" rate at. 33 nor cent, which locks rather a losing frame. Even if we took Hit interest at 4 per, cent, there would still be a loss, ami it U difficult to see how a profit can be made unless the Treasury pockets much inor; of thn coin, and weakens the backing o! the note." BEET SUGAR IN ENGLAND. Ev'dcnce is accumulating in demonstration of the fact that Orcat Uiitain should mnko efforts in the direction of nttaiainj independence of other countries in the matter of sugar production. It is nor. announced that, an organisation has been registered under the style of "tile Incorporated English Ecet Sugar Pionpei Association," as a company "not cxirtin? to make a profit."- The undertaking is intended to be the official hend of a. class from the experimental stage, and in the opinion of many eminent men of affairs, is destined to become an important English industry. During, the last six months an immcira amount of financial support has been accorded beet cultivation for sugar in England, and apriri altogether from the private foutccs which have he?.n drawn upon for ir.av.y year? nast, the influence of powerful London interests has now been secured in practical form. Certain member:-- of t!i2 British Hours of Commons nnd other influ.eutia! individuals hive pM;red thnm-r-clves to assist in the establishment of beet stigrar production on a commercial scale, ana there aro roar.oiw for hoping that renterinl proerc.-s will thus be ir.ride towards placing tin United Kingdom in a position to prirtiie? r.ugar sufficient for her home requirements. CUSTOiIS. Customs revenue collected for the Sputember quarter totnlled 19?. 9:1., as comnared with £2!6.«G ss. for the correrponding quarter of Ir>.-,t year. The receipts fir each of the last thro? quarters compare with the Hjrurcs for the corresponding periods of lait year as under:— 1911. 1510. £ «. d. .*. ?. d. March quarter ... 2C8.«7 1510 179.557 5 1 .Tune quarter 178.CVS 9 8 IC9 CW 0 ; September quarter 231.656 19 9 216.«5 5 ( 61C.K7 5 3- E65.«6 8 ( There is ail increase for the nine rront'.ir of £53.310 16s. 9.-1., or not quite 10 per cent. It is obvious from thh thai. :;o far as- regards the WellitiElnn dir.irict. the imports are being maintained «:i a larger scale than was the rose last year. Customs revenue collected at. the nort n< WeUi'mton yesterday amounted to £2-! i; 6s. Id. EEEE DTJTV. The beer duty for the past quarter totalled £2838 <5.». Bd., as a-praiiift .£2922 Jj. M for the September qaarter nf 1910. The figures of each of the lwi-t ilirco quarter! compare as under-.— 1911. 1910. £ s. d. £ s. ('. jr.arch quarter ... 366214 8 3*3 3 i June quarter J2i'6 0 9 3198 0 i September quarter 2533 4 8 2922 2 I 9707 0 1 952J £ • The increase for the nine months ii "233 13s. 9d., or about 3 per cent. WHEAT AND FLOUR. By Telegraph—Press Association—Copyright London, October 1. The wheat and flour afloat for ilii United Kingdom totals 2,375,CC0 quarters for the Continent, 1.545.CC0 quarters; At lantic shipments, 158.CC0; Pacific shipments (iS,tCO. The shipments to Europe diirini the week totalled I.KO.CCO quarters, intfud ing E7.0C0 from Argentina; 280.CC0 Russian 230.CC0 Danubian, 37.CC0 from India, ani 119,C00 from Australasia. LONDON MAEKETS. <Sy Tclesrapli—Press Assn-.iation—Copyrighl London, October 1. , Cotton.—October-November s-iripinent 5.561(1. per lb. Hemp.—The ma.rket is dull. Octobei December shipment, £20 per ton. .lute.—October shipment, £21 per ton. Rubber—Fine hard Para rubber i quoted at 4s. Bd. per lb. " Copra,.—The market is firm. South .So: in bags, ,£26 15s. per ton.

THE METAL MARKETS. By Telegraph—Press Association—Copyright London, October 1. Copper—On the spot, £55; three mor.t.h>\ .£55 16s. 3d.; electrolytic. .057. Tin.- On Win tpoi, £180 10*.; thTco month?, £176. Lead, £14 18*. 9tl. per ton. LONDON" WOOL SALES. PRICKS VXCITAXGED. i Uy Telegraph-Press Assoeialion-CopyricUt ! London, October 1. j At the wool <8,747 bale.-* were offered, nml <2,214 r;>ld. Hiddinf? \\h am- . i mated, but price? were unchanged. ; The fo!lowing mio the prices realised for r the fleei-e portions of the clips named — !; "lleu>pui," t:jp price lid.. average 10 3-8*1.: ' "I'urigatana." top p''ic:» 9*d., average Bi;d.; "Aparinn." tup price lf'ld.. t-verugc 9}d.: "Loth Tav." top price £21d., avenge 21*1.; "Ileretaimg:'.," top price 9d.. average Bjo.j "Wyndhain," top price 12' d., average 10&u. Me-wt's. Murray. Cherts., aud Co.. Ltd., have received the following cablegram from their London fiiend:-. Messrs. Sanderson, Murray, ami C>.. with reference to ! tho current slm'lc:? of salt's. Merino, | descriptions, market firm. For # short, q faulty, and inferior scoured merino the - ! market is weak ami irregular, and, com- 1 •.? J pared with the closing ratcc? of la.->t Lon:l i dnn sain?, fclunvs a decline of 10 per cent. ■- j Crossbred greasy, coarse, and slipe ero.vsr> ! bred slnw a plight advance, compared t roth the opening rates of the- present sc: ictf. lIIGH COMMISSIOXEII'S CABLE, f The Commerce and Touri-t Division of 1 the Department of Agriculture has re--2 cfivcd the following cablegram from the J High Commissioner far New Zealand, f i dated London September 30. (Xotc—Quotatioiw unless otherwise specified arc £ average, market prices on spoO:— t Muttou. —The market is quiet, with a tendency in favour of buyer?. Canter- . burv <jd.. Xortli Inland 3Cci. per lb. ;; Lamb.-The market i-? nuiet but steady. l f j Canterbury 5Jd., other than Canterbury : s.\d. per lb. JJeef.—The market is dull on account of heavy arrival?. There i? loss demand. Xew Zealand hinds 3Sd./ fores 2,*; d. per lb. llutter.—The market is rtrons; all stocks are advancing. Supply-till? short : of the demand. Victorian (this season's) „ has arrived, realising 1325. per cwt., Dan'J ish !«?., Siberian 12C:». per cwt. Cheese.—The market is quiet, but holdor? are firm. There is Its? demand on !?« account of high prices. Canadian 70s. per ti cwt- }■ llemp.—The market, continues dull. No change in price?, viz.:—N.Z.. good fair -a -pot, per ton, £19 155.; X.ft. fair grade, .£lB 15.?.; fair current Manila. £20. For- ! n ward jjhipincnt'-X.Z. good, fair. £20: fair gTJwle, £19; fair current Manila, £20 -I-s. ; n The output from Manila for the week \v;ts j 1 - 25.000 bales. , Kauri Cum.—The market is quiet but steady. Dark brown selected r f £6 to £8 7s. 6*1.: dark brown thrcc-uuarter Dl scraped. 80s. to 955.; ret?crap<d. pale amber. £10 to £12: dark brown ships, 3:s. to 45?.; three-quarter pale scraped, £8 to £9; digger**' chips, good, 90s. to £6 7s. 6d. a- Wool—The market is firm at the adId vance.