COMMERCIAL ITEMS.

Dominion, Volume 5, Issue 1467, 15 June 1912, Page 14

COMMERCIAL ITEMS.

INVESTMENT SHARES'.. Particular nrtJrity was dfcplayrd-.ltv Ka't'onul TnsnrniKtc slmrto yosteriVay^. aiUl this feetns to iiwlicito tlinl .ijOiiftliirijj special is pcndiiip. 7t may lie ;, thj>t; Jlfo iximpany imciids to pay a hifrher (linjeiid., I hut, as iißiiiiret, this, i'd must, lit>. 'Tsmfns-, lioretl thnt the year does not t-lpse- .uitj.il' .September 30. and the dividend-'will: -iiotbe. payable until pihiio time in" Iliat is, four months hence. ' -Thtf. -last dividend decl'ared by the company- wag equal to 20 per cent., ajid. wilh-'-Sraso: ill; 395., the. return to the investor, is-'-ec'iyial to £5 2f. 6d. per cent., or aboutMhe ; same rate that British investors mow,■■■eipec't-'.tp obtain from New Zealand Goyeninicn't. bonds. There is, of course, another --jficwi The company may lje about to" -aTna-lfea; inato with some bip; British company; -biit this seems a very renioto possibility;. K.o,\v> ever, the sales of National .■■:.' -litFiirance'. shares yestcrdny wore at, 38s. 9d-s"*39.s.V 395. 3d., 395., 395; The only other : traneactiort wa.9 a sale of Ohristchurch Meat- siiaresat £14 17s. 6d. Tho buying tmkl- :s?elifii(j; fiuotatioiis wore as under:— '■ ■ ".. '■;:'>

Buyers:'. ■ S'ctlcre. , £s. d: ■■iE'K.d:: National Bonk 6 0 :.O' ■. ■;,, -Kifiiitabl'e Buildinp — \ . io.. .2' 3 X.Z. and Kiver Plate ... — •' J'f o. Clu-istclnirch Gas — .9. 0-0. N'apier Gas (£10) — ■a. ■■•}■ $ Well. Cias (£10) 18 5 '.0 —■ Cnristcliurcli Meat 14 17 0. ; -i Jleat Export (£5) 6 4 i>: . Meat Export (525. 6(1.) 217 .6: '3ff 0 N.Z. Shippinc -•■; iS.iO'OUnion Steam — . £■ 7 0 Well. WooUen (pref.) —•■ ■ 218 -6. ][ikuraugi Coal 018 0 ■ . ■— Taupiri Coal 1 1 : tt *- Kauri Timber (335.) —■• ' -1'1?6. Parker-Lamb — , '/■ 1 .:B'.o' Taringaiuutu Totara : . :2i'*B-' '0' 0. Jr. Banks, Ltd — ' '<£'W--l~ Golden Bay Cement - ' ■''l'' 2"-'ff-. If.Z. Con. Dental 1 0.-..0. f'tyb K.Z. LAND AND IXCOME 'rAS: ■. i A deputation from the 3ranclies!.or;, : B]r-; mingham; Bradford, and of Commerce, and the , Manchester Assoc.i:V tion of Importers and Expcirtfe'V-Avaitid" upon tlic )ligh Convmissioner : .fqri'lfcw ; ;'Zeiit laad (Kir'W. Hall-Jones) a few"'week's asrd with the object of obtaininu'liis , ■■influence: to prevent (lie New Zealand •:B:i)id:' : 'and..ljiT' come Assessment Ameiidment^'Bfl], , 1911;. from becoming'law. Mr. appears from the' "Drapers':.'-Keco'rd"'.r6:'. port, stated that if the »e.w.:'Bill : : w-efe': ; passed the burden of taxation , Sori...Bnti3lr' traders and their agents, .whiclrS "ka.s'.al-.. ready excessive, would liccoriie..'almost-.:in-:. tolerable. Hitherto manufactiu'ersy ; ?arid : . merchants in the United Kiiijrdblißn'nd-.'tQ* a certain extent evaded thcMicnvicr'Sfpfnis of taxation by means of thp ■ fi:j-iiiatiph,..of' "chilel' (-onihiinics but thiß-iTvosU'd'yno/lq'iiV. per be because liie'i'Sn'imissiprieiv may disregard the child tcomiiany-'niid-.' take life ashcssmonta on t.he-vac'cpinit's'rif: , the parent coiiipniiy. A opposed was,that a firm irivKiVgiaiul-ora-: ploying an asent in' New Zealaiid.'.'wasr.'oplißed to pay tax on the.'-.Ne.w.V^.Zea'and , . profit l :, whoi'eas n. firm doinE-Muisißess^vith 1 the Dominion tlirough another.-. ,, ; firuv' 'Mi.' liondon wae exempt from j.taxa.tipii; ■' "The.; High Commissioner, fn replying'■ to'-.the'. various speakers, said proosed by the fact that the only country wluch in addition to an income t.ixi/rife'.'prb.inii-ed , ' to place the views of the' ; ilei)ufation > '.be , -;. fore his Government, and'..he;-thbugh.t,Vin , ' view of the chaiiße of Gbyehimcnt made; , in Xcw Zealand, that the ; jmoment; Avas-a: very opportune one to opposolany-prbspec:*' tivo lcsifjlation of the nature , ! .discufsccK

BRITISH : . . : A record which is regarded?-as"':"n6t'TO-eatirfactory when tlie dirarfcn-Tilsatldn'-Sof;; traffic by t.ho strike is takeiTiiiUiTaccouiit'"": is shomi by the British■.'Bpav'd.'rof, ■Tr.atle: returns relating to lhoi : wbi ; !«ii]g.' ; ;of.:fthe railways of the United 1911. Tlie letietli of linevdnenlfor.'",traffic : is given as 23,336 mites. a.nd---:thd' , dis.taTicte covered by trains as 428,5ei.0fl0. : ;'inilcs>'tho' , latter totnl reprcseirtineli.aii. "increase bf ,, 5,360X00 miles on t.he 1910 ■"'lhe ■ paid-UT) cOrpital involvc'J.'v.aTiiounted- ; ' to' £1,32<!,Cp3,000, as against £l;318;515,0l».in- ; -tlier immediately preccrtiiiK year. ."■■l I lie' , gros3: : r.e- : ceipts fisuretl at £127.216,ClS)!,,?passerikdr - traffic oontribiitiUfr JE53,933;C0p;' iiisd'Kbo.ds' £a,m.m. The workluß .'absorbed ■ £78,566,000, and the net ■.receipts ,, stooil■-at.. £<ie.650,C00. Tlie passcu?ersp'riiimberea.,i<,326;-:. 246.CC0, and coods and , - minerals" 'carriedwciehod 523,556,000. CoiiipaViKpns ; ,6lib\v'that the irrosa receipts advancecl-'by: , £3,291,000; of which £1.795.CC0 war,; ;cdntrihhtc"cl : '. .by goods and mineral traflifc. Worliini; cs-: penses, however, inereoseff/at ■the'Faine ; time- by aoarly £2,C00,00O;-. ivithVUic- result that net receipts were Tbo number of passengers] 'cirrie'd' -was larger by not auite 20,C.K),Ccp.,'to , which: .has" to be added an iiici'aifec-.oX: iibarly 30XCO, to 780.C00. in season tirk.ej'liolde'rs;:, .pii weisht of poods and miiierals'. , cnirieil , was:. greater by 9,127,000 tons,>;thcVjtacrciiefjieini* ■ about eo.ually divided .'. b.e.t«;ceh' niijierafs 1 and general merchandise;: ■,; The: fincreitse ■ shown by authoriped capital,, l.frfini £1-399,"-313,500 to £M01.155,G00, tp'tlic fact that the 1910 nßure'3.''\vor.e.--T.ediicsd : : t4 : ■Fome extent by amalgamatioiiaS which tgofc place in tbat year. The , ■advance , ,:reprc{■ente an addition of •.■£1 , ,872;000 'in^.autlior'- , ised capital, principally/'Vinl shares: aji'd. stock, but paid-un "Kipifaj:- ; \?hdws .an increase of £5,488,000. i?f ! ..,wliioh debe.ntures account for over jEJ.OCftOpp. , '■"' , "

the r. and Q;;CQ3rpA?rii; ! Amongst tl>e comment's , ,:..on. the Hse: in. V. and O. deferred stock .a.monOi app, , . those of the "Daily . ■Tclcst"i>i>K" ,: nrie , ' , of importance, as indicating , .'a.'provable , development in tlie control: ;b£.' tlio" ATiglp-■ Australian shipping : ;cr,.yice&:- The model BURgosted is that of..Vth«' 'Gcrmaoe','. tfeiritr" based on the nrinci'ple r -.thaf.it''is> , essbntial to the Rcneral well-being;..of" the, Hriss ,pri any given route that fthey.. shoiild tit. .under one administration, v'and. , 'that' .thejf ".airangement3 should be. 'madeV/to harmopiFjs: in every particular; *. -.-..Jn?" 'England;.. "gio. North Atlantic route' 'is ,dpminated:"by'S luandful of men, and':: ; thp... ,, Eamp 'tluhp"..a,p'plies to South Anierica. aid; the.- Capo Within a few month's';; 'thoV 'Wily. Telegraph" adds, it is ■■.exE.e.'ct.ed : tha'.t: Australian shipping, so far .aC-the: British''flag is concerned, will be, .'nlaced-ipn .a aimilar. basis. To do this,:...it; is-, necessary'.that the P. and 0., the liriti.sh'lnd.ia';.'thc.Orient, and one or two olher'/cpiiccnis Mibuld■ be brought under one.Vf.admimstratipn;' and tho efforts of those ■■engaged' ih":-;t his: direction, if not are-'on. the verge of reaphirig:'.:it:".Ea,tiijfn , .ct<)ry- fefmination. One effect-'..ot the iirriingoirienitia will be to enable the .'respective , , ftpmjianios! trading to Australia: 4 of dispense' KvitJi." "ii large number of ; old .'.vcsspls;. whiell-' 'are , obsolete as regards ..eonstnictibnf, .shd'esnensive in working';, jujfd- t.ii'is is.,eibectc : a to produce an iu'.pr.ovement'.immeidiatolv m working charges; .'..Sailings wili' |>e rcducod with a yiqwotp.cc'onPmisiiig'w'ji."!*while dock administration .icharges w'ill'be curtailed. These arid , jot her 1 .savings, tli'd' "'Daily Telegraph"; jwirits :fmti .wilt , ' ran. into a vast sum aimuallvi. and? thgy hayo , weiirfied with those. '.' : whp. .-'have , ■■reeeritly bought P. a.nd 0. ,, deferred , stock;.

' duties coSlecteti. di the PP.ri '6f Wellington yesterday; ,, , .ampuntpa , to '£2i62 19a 3d. '''■; ■ ■ grain Afrb; pitoptror;;. (By Assoiiatipn;.) bhrlstcliurch,. ,t«iio 14 Tho local grain,ma'rjjofv-'.bptjlj. for" \Tlibitand oats, is in jt-'Vbt? , fi'.viqt S'fcito; there being practically, iw tyrodiipss. iloiiig hv cither cereal. Tliqre is Jittl.c; "offering, and t.he marl;et: lii■ 'easier.; Uioiißh tiinro is yet no actital'Ychaji'Ko. .in; jirilcca!." 'Oa.fsheaf chaff is lik«KiE«. jveivker, .in" c.pu'scdiienee of the r'ain*;;ini A'lietrnHb,. .ljiihij likely to prevent- luiiclt- :fur.i,heE' -Biislness ' with that market; • 'IMie , ipotalft , niairld't is dull, owing to tUg fldiUierii.■■markt^jSeinß , well Bupjjlied £rptn. : -\th"e .eoiifli , . Thcrts iarp few offerings at , ;prjs^enl,-:aa" , U(e , wet -rStiate. of llm ground prevents -deliyjOTJes, frorn.- v !lie "'<• ,I'..•■'■■ sn|B.l!'S!Ch\B'. 'I'lie New Zealand" -lioa'it .a.iid .Mer.fftj)taj'e. Aittfiicy Company.,. f;i<l.-, : lia'VA .'wi'piyiiii/tSie l'allowine cablegram. Ifo.m. tiiieii- iciri.d.on' lioflse, under dat*?" $ "lie - f :i,1,.-> 4)hctirtki'na'. Tlii) market for sliceiwitiiia 'ie :.Ko'r! merino comliins;' .Blipep'ikiijs- iW-V luc'riiiu-i-loUiins sheepsk.Tw;f. :sd.: .(-rosshwd. slipip, .eliiiis, Itl. For tross.bred. laiiibskius -if :ie un<;h{UijjetL. U)Xp(kf. JIAIiKOTR J[es=r.=. Jlnrray-, .jjp)(pj.t3- .p.ijd- Co., hid., have received th;e ■f<?ll.9>vins- innrU'ct, Er.-im from tlipir l.io.iylwv rifrp'ntei Mfsspp. S:uidoi>qn. MiirrnJ; -a'ijrt l,'i) : . ftoiijion. thik'A Jum li: 'ShcppsiiißS: '.M'wjni) •f.i|]l*pt)lli'il inwbol. srhniu'-jjcl -S«-. mor.H,o li ? !f-*tv.7)l n 0: mn.vk<it n'lvßnc.Sfi: i<4..., i;t*>eejbViF"d' fm.ariiijt- ad.van£ed iA"-

! e/!i'blcitrft:ph..-.l'fe!i.i( An».6cintr-;)!V-Oqpj:r.lK!it ',"' (MM- .Willi! 1-1, ■$ PM:} -. I iiOtidbii, Jiino 14. : *j?!i<=>. /limb <■! KtiKlitnnl li'lin-ii i'sHiiwl far .Cliii Week unildii -.rinwj K, in ,iia ■iitiiliii , ;—■ I -lii.io'b VKeKjUfiMi hole lHil«-.•• .i'rib.Oili.OM. Opv.iio.bt.,.. SlimfP 0 ;. " OtHovt'^ouri. i. uoj. .-.. «. uMitm [ OoW" 89-;rii'.'.;ooo fMf)AX,tm «MHhMO 'jj>uKij)o Dr.'ritiTjjfH.T. ■ .prnprlfllo'i , * , CI 'PV- 1 .. "ipurl- . . ciMlinl mwAW 1M JK-.1t5.M0 i'iliil'fni'la , ' O.tUorin.o.Ciirl--Mvo:iit:i"' ... iipiostit tte/. ... 3i;o2S.qoe. °liißiW < '" ...3i|-.787i*0 N"t.?« «■ ■9i>.S76.fc» ni!»i,'f-ilii.y tSii"!. 1,,1 ' ... G018.,. -.. Um» ; t70,83.0,(»i i£"'J.Si;Opq i; Tho Iwdinß ftcriis- of th» Bank or , Enij> ) laiiti , rotiiro afTfc.rd th» fo'U'p.wiof ctimpari, ',"*' Ib\Mni r/rcet-ire.ii!c. t&i'tMM ,:-■ ' J!" & £■ "nuiiiori ■ ... 'bd;6l2;om- 3iffttboo a8;soo;6oa. ■ :; noBorv"'" •• ooMiooo- oo;o5i-.!xxi ■.ao:i93.otp NbteoiJo'iilfttloti 2ff.786;(X» ySMiVM iaJOTWO "rSbiii-nopom't. Ktxom nmom. 13.83:1.000, l!!;qi)ort!6n..o.f : lTabSitloi *,;. iO.it <8.« ..52.0 ■■ BEOUiItI'X'IES. : ijn- foiip.iT.inß- aro. .the. Intcit ooptatlbiii, for" Gotern.niimt eccurltioa, nltb. i> o»ny pirißon' of. ihoso riiltne last; week: , ?-- ■ ■'■"' '" ' ' "T^VaifetJoa _ f compared Prlcji ..' w«u , '. . .laEt >v.e<fe*. '■ ~~ ~~' ' ' £ -s. & ■ 7713 ,B- pnchan-Rtod , *'■'.'■ N.S>'-W.-i933Jiiifi-Jnly 103 iD: 0 ' iOs lower ili ".NCK;\V.-l!)18 : Ma.r.-S«p. 931&. 0 , Xlnchnngca '■$■' "N.S/Vt-lisSApl.-Oct. -.60 .0 0... -iJiiehap.ewl' ■I' "Viclib'SJan-.-July : 100 10 0. , Urichbni,'ed ■■31 "Vic..:i!Ktr.it.lau.:-'July : tffi "0 0; Uijehan.eed.. ■'A ''Vic..IMO-idJan-.July --Ri; .0 0 20b hiuhpi' :»4-"-t>.X'. .: -fti-O''o. : laivcr. .ii;'''s':A : .Wli;.',!nnv.;!uly ■Jβ'lo. 9/ fflsAovcit '■ '■ : i- ' Q'rdiOl.i-sWair.July lOo.liS , o' , -Uncliaiigejl:3i ■■■oirdl^i^OJaii.-Juiy l 35,10 ■0.. 'Uhclmn'eed ■ •3: ,;"Ci'r<!.:JWi;]7.Tan;-.Tiils' » 0, 0 .Unchanged ■i .'K.tf'iQlSi-M&y-Tioy. 1W .O'tf- 3ps Ipvrei: .■3j.-.K-X.J!Ho ! JßU.istilsf .03 P ,; * Ununangei: :3'■ ,;N;7,.'lWr. , Apfi!-0c6.: . KlO. 0/: ■UhchansM , ■BJvWr.A;.igaWQMiiyiNby KIM ff Unobiingba ■ . i) , , v \V.i, : !!!iiir:isMay,K.6v ; 8S 0 tf U.niihangea 34- ~'i.'n.3.: IWOJan-.-July: , U3'lo O , 20s.'-lower ■a. ;/l.'Rs;l'jJg-Vli;Ja.a...i.u'lyl Vj 0/0: .. Unchanged 'bank Rates' .pF piacpUNOV ; The Bahk-of En(?ian4- .rate -jt'iSv on. D&- ■ ceinber'i.' iftO,". '.lowered; from, 6 ;to 4J. pet. tent;;: tfn- January Zl. it was 'lowered; to 4. ■per'■cent.'i. oh: Febrii.a,f.y 16 t0....34 .p.er' cent., oii.d qfr Marph ?■"Jα-3- ce'nVflq ,Septeni:: her ■a. it; ■vjps ■■adyitnce.d irf ■4 , ,:jier. ceßt:. , fen.Mi'ebraiafjr :3,i,t was, reduced^to , 3i per j cent;' a'iid' pii; ?■ to 3'pec x;cnt;. ~ .. ;i ' Tlie-:Uarift. of .I'tance. ratp was re.duced i froin''3j:;to -3 -per: mnf, bii January..s,.. .1908, and/'icontinued' at : .the:' latter' flzure.;un;,iV. Septenibcr" 21, ■•'■.ftlli ..irli.eh. it,was raised to: Joi'Spef. ce.nt "fla Miiy 17, 1912,- it yfas- :r«-; auced.,tp..-. , 3'.'p.er : .cenfS ....■•....! . ■■; "'■The.'linpci'ial.Bank bf. 'Qsr^maojr..reduced:Its;Tatr ■from. •&■ tp-'-'fi' po.r iccnt.. .pn...Febru,ary ! ''6,: and", ow. Fcbruarx-... 19. the.. rate ..Tra?, fiirther'.Teduced; ■tp:' : 4:per ient; ■oa:.Sep i .t2mi: ber , -19, : tHe : :rai«: ; >vas;*i!i6eitX! S.per "cent.;.: andVo'hv Juae li; , :1912, it was "reduced- fa "41-. .p'tr'-cent.' . -~ .-', ■ [',■.-; :.. ■' '

'■•,./MAKkET:.,jtA , n33 .■OF- , ■ DIS'bb.UNJ. . . <Tiie'f6llowinß: are.; rater 'for :iest'*th'ree ; .mpntlißV:bil!s..:,-r:.' :..■■ ..V .':.. ■"■■.■■" '.'■ "■' "'iiondba ■■-Paris' Berlin- :, 'i' .: ... : ■ ■ ;rate.-. .■rate." /.rate. , percent". :per:.cent< per. cc.nt.. ■iast,: -?l : ■ -Jfr, ■ .$■ ..."

Short' loans' are .quoted:, at "J. per ceaU •as: ■■compared irit'n :2i..per ...cent, ■last Tr.eek, ■and..:;l j' : ver:' cent/ I'rtstl- year./ i

■ ■CpLQXIAL^A^p:p^Ip:IBQI)TWE, : : toe firmpiand: ;lcW4■irife .upWords;■ on!'an nnfa.Tourable,.:T.cppi't,..qf ■wiTitertjibS *lemand' : fbiv:cnrgbes;ior',,the,,Unitcd:,K.inß:': .dom'jaud'; thc./:CputiiiehUj:Six o eargoe^spld. ■ .to Affit aix.'thpusand.toiiSiSouth, .■Wislrali'ah.'. ! J.-«si;--l}.dS, .ipafccls ..South Aus ? .tralian:=:.and; .yictorian, MaK-Jnne, ;:395-.-;;8d... Thc:;np'o&:trad6; ii , . flat; .Australianv^s;:.,^. ■ Aitstra! an ■nateiit,,.2Bs.-3d^ ■ ; :Qn'ts ;; :^re,:^tea'u^^Ln/:^pata..lslay-Jime^ b; ii".diEchar e inK;: ■■but.''buyers :.aro,,."takmg ; IrfsiWaiiu. -:Siberinii, . w'mc& are/'- nlontiful, ■Pricos-'-aro. ■ urichansed.'' " -ri.anish is. iasic.r; Wd-Xis :<iiioic%iiii \®s. t0■..■122a , ». ■, ■■•■; ■ qaic.t. K.ew : Zoaliuid-.■ls-fluo^eo.-jiSlcs#3«b;',|irad'le>:..:qf■" Aiis-' itrolasian'Svwre \ qfferedi ; a (rood ■''cbinbinssV and 7 ' clothings ..were at' farthing. ■ dearer;■'■'ands'crbssbreds.-. were a' .halfpenny. ■'dearer■ : all,-V;rpund.:. ...•■,. .■■■ ■ :,..■".', '-..■... '■"Stiear , :—G'c.rm'an': ,b.cet,.'BS per. .cent., net; Md,. ter ,chA:. 'nrs.tiv'm'ark.':'irra.nulltt<? ; d : .f:q,b; -Hambu.rg.v Id.-■ Tlie ißariet - is , - '.steady ■and' ■'uEcha.ngea; , "' ' ■'. "; '. '■■ ' ' .THE''ilETili. M f A;E.K?TB, : .CopperVw.spofc ff : m% ■6d' v ;per.:ioh7. three 'rabSthSi/.m Iss,. ■ ... %^ ! 6n'sp'ot.::'£7;h'ipher. ,at,:£2oJ per/ton;;. .:40s, ftißher' at '£197 10s; '■ ■■Sp'elt»r;i£2s".i7s; ..6rt.i.j:per ; .tpii- . ~ . higher at. 535 , . 10d, per ton,. •R'plfriiai, 2?>,' per ■ unit. COMPANY ■ piV.ib.EN5-. :■ .A : sßociatib;n.^Co.pyH|it... ' ' : (Rec , .. June 14; .:i.0;3.b.,' ; p/nio'.: , : . \- , . ' Lpnidorti' 'iiJUK! 14: ' ■ : ihe NatlbWil 'Mbrtiraß* 1 .anf: ■ Agency; .Cqm ; . pany of"Ncw : Zealand)'Kas ■■de'cl , orpd,ttn;.in--.■ierim , alviHciia a.t'the- rate'pf;74 p.er ! ccnfr...