COMMERCIAL ITEMS.

Dominion, Volume 5, Issue 1527, 24 August 1912, Page 8

COMMERCIAL ITEMS.

INVESTMENT SHAKER A sale of Wellington Woollen preference shares at 68 1 !. was the only transaction recorded yesterday. The buying andi selling quotations were as under:— Buyers. Scllere. ' £ s. d. £ s. d. Bank New Zealand 10 14 0 — National Bank 5 19 6 — Wellington Trust & Loan 7 15 6 — Feilding Gas 10 6 — South British Insurance 317 6 — Union Steam 2 6 0 2 7 6 Mosgiol Woollen 3 7 0 - Well. Woollen (ord.) 3 15 0 - Taupiri Coal '• 12 9 — Wertport-Stockton 0 2 0 — Golden Bay Comcnt 10 0 — Manning and Co:-..: 4 0 0 — N.Z. Con. Dental .: — 12 0 Sha-rland's preference 12 6 13 3 WELLINGTON WOOLLEN COMPANY. The balance-sheet of the Wellington Woollen Manufacturing Company, Ltd., for the year, ended July 31 last was circulated yesterday. The da-rectors in their report say: After payment of the interim dividend to January 31 last, £3«0 103., and placing £1500 to reserve, making that account £20,000, there is available tho sum of £8149 10s. lid., which tho directors recommend be allocated to a, further dividend at 4 per cent. (£4614), making 7 per cent, for the year on both ordinary nnd preference snares, the balance (£3535 IPs. lid.) to be carried forwa.rd. The directors have cont/nned their policy of maintaining tho plant in a thoroughly efficient condition out of revenue, and in addition the sum of £5000 has- been written oD for depreciation. There has been expended during the twelve months £3707 ss. 6d. on machinery, etc, to further increase the company's producing power. The mill and clothing factories have been taiod to their utmost capacity during the whole year to overtake requirements, and the board has now under consideration n. Eclisme of extension of tho mill buildings to meet the cxr-ini-ion of business in an economical aud effective way. Meesrs. J. It. Bln.ir and It. C. Kirk, dirootorn. retire In tcrnic; of the articles of association, and, being eligible, offer l.tiem--601ve3 for re-olection. The auditors. Messrs. Henry Kember aud Son, K.P.A. (N'.Z.). and Ernest W. Hunt, F.P.A. (N.Z.). offer themselves for re-election. No other nominations have beon lodged. The profit and los 3 account shows that tho gross profit for the yoar amounted to £26,048 15s. 3d., and there was received from rent and transfer fees £55 6s. 6d., makinsr a total of £26.104 Is. 9d. The expenses under al! heads, including dir*>otovs' nnd auditors' fef.'S. and provision'for bad debts, totalled £11,418 75., and there wae written olf for denrewt.ion .«OCO, leaving tlvo lift profit 'at £9685 ■ Uβ. 9d., to which has to be added £3424 2d. brought fnnvnrd from tho previous year. The dividend for tho year at the rate of 7 per cent, on ordinary and preference shares absorbs £8074 10s., nnd £1500 has licnii add.=d to the reserve fund, leaving £3535 10s. lid. to be- carried for ward. ■ Customs duties collected nt the port, of Wellington yesterday amounted to £1484 Sβ.' 3d.

Most of tho coastal business in oats is being done from tlio south ports, where there is less prospect, of netting space to the United Kingdom. Thore is no movement in wheat, and chaff is still dull of eale. Potatoes bavo shown a further rise during the week, and up to £6 at country stations has been-paid, while for lots EUit-' ablo for shipment to Sydney another 10s. per ton would probably be Riven. LOKDON MAKKETS. Jfessrs. Palgoty ond Co., Ltd.. Wellington, have just received the following cabled iidvico from their London officer-Tallow: Since our last wire, prices for pood colour mutton a,ro 3d. higher: also for low and inferior descriptions prices are 3d. lusher. For other descriptions prices are unchanged. Frozen Meat: Beef—The demand for New Zealand beef is better, and prices are firm. Quotations: Now Zealand prime ox fores, 3id. per lb.; New Zealand prime ox hinds, 4d. per lb. Lamb: Demand for New Zealand lamb is limited, ami prices are tveak. Quotations: Now Zealand prime crossbred lamb, Canterbury, heavy, 5Jd. per lb.; light, 5Zd. per lb.; New Zealand prime crossbred lamb. North Island, heavy, sj>d., light 53d. Mutton: The demand fo'r New Zealand mutton in better, and prices are firmer. Quotations: New Zealand prime crossbred mutton, Canterbury, heavy, 4fcd. ner lb.. light 4jd. lb.: New Zealand prime crossbred mutton. North Island, heavy, 3Jd. per lb., light 4 3-Bd. lb.: Australian prime crossbred mutton, heavy, 3id. per lb.; light, 4d. per lb.

BANK OF"ENGLAND BETUE\. By Teierraph—Press Association—Copyrichl (Rec. August 23, 7.25 p.m.) London, August 23. The Bank of England return issued for the iveek ended Wednesday, August 21, is as under:— IESOI; DErAimtEUT '

BANK RATES OF' DISCOUNT. The Bank of England rate wae, on December 1, 1910, lowered from 5 to 4i per cent.; on January 27 it was lowered to 4 per cent., on February 16 to 3J per cent., and on March 9 to 3 per cent. On September Zl it wae advanced to . 4 per cent., on February 8 it was reduced to 3i ner cent., and on May 9 to 3 per cent. The Bank of France rate was reduced from 35- to 3 per cent, on January 23, 1998. tad continued at tho latter figure , until September 21, 1911, when it was , raised to 3S per cent.' On May 17, 1912, it was . reduced to 3 per cent. ... , _ The Imperial Bank of Germany reduced its rate from 5 to 4 J per cent, on February 6, and on February 19 the rate was further reduced to 4 per cent. On September 19, the rate was raiEcd to 5 per cent., and on Juno 11, 1912, it was reduced to 4J per cent. • ■

MARKET BATES OP DISCOUNT. The following are the market rates for best three mouths' bills:— London Paris Berlin rate. rate. rate. per cont. per cent, per cent. This week 3 3-16 2J 4 Last week 33-16 2 3-8 4 Last year • 22 . 2J 3J Short loans are Quoted at 1J per centos against 2 per cent.'last week and 13-8 per cent, last year. COLONIAL AND OTHER PEODTJCE. . Wheat—The market is steady but buyers are reserved. Liverpool futures, October Bs. 9id. r December Bs. 7 3-Bd.; , 38a. 6d. has been paid for a parcel of South Australian and Victorian duo next week. Spot prices a-ro unchanged. Flour. is quiet but steady. Australian, 275. 9d., ex store, 265. 9d. afloat. Oats are Quiet. La Plata, August-Septem-ber shipment, 17s. 6d. Butter is quiet. and nomin ally unchanged. The demand for colonial is limited to choicest. Some purchases , of New Zealand new-make at 12Jd. f.o.b. colonial ports is reported, which most importers consider excessive. Oheeso is steady. New Zealand, 655. to 665. Sugar.—German beet, 88 per cent, net litre, 6d. higher, at 11s. 6d. per ewt.; firstmark granulated, f.o.b. Hamburg, 2d. lower at 14s. Id. Bradford , Tops.—The market is firm and business is improving. THE METAL MARKET. Copper.—On spot, 21s. 3d. higher, at £79 76. 6d. per ton; three months', £79 12s. 6d. Tin—On spot, £210 ss. per ton; throe months', 655. higher, at £208 15s. Lead.—Soft foreign. £20 nor ton. Pig-iron, Id. higher, at 625. 2d. per ton. Silver.—Bar silver is Quoted at 28 11-16 d. per oiinco standard. LONDON MINING QUOTATIONS. By Teleeranh-Press Association—Copyright London, August 22. Yesterday's closing quotations were:— Waihi Gold Mining, 31s. 3d. (buyers), and 335. 9d. (sellers). . VICTORIAN PRODUCE MARKETS. Melbourne, August 23. Wheat, parcels 4s. 3Jd. to 4s. 3Jd. for forward delivery 4s. <M.; flour, £9 55.; bran, £5 155.; pollard, £6 55.; oats, steady, at 36. Id. to is. 3d.; maize, 4s. 2d.; potatoes, £11 10s. to £12; onions. £16.

Hole Issue £57.533,000 Gov.dobb —£11,015,030 Other eocuritiQ3 7,434,000 Gold 39.534.IX# fj7.9S3 003 ' JC >7.993,000 Banking Department. Proprietors' Govl. sccuricapital £14,353,000 ties £13,368,000 Tublic do- Other sccuriposits ... 17,54-1.000 ties 35.103,000 Other doposits ... 4-2.890.000 Notes 28,729,003 Rest; 7-day and other bills... ... 3.592,C0J Coin... ... 1,379,000 £73.579,033 £73.579.000 The leading items of the*Bank of Eng* land return afford tbo following comparison Thiairook Last week. Last year £ £ £ Bullion 39,514,000 30,563.003. 39.778,000 Reserve 30,10S.(M9 '29.tlo.000 29,S03.UX> Note circulation '29,-254,GOD 29.513.000 '29.Sfc0.0fX) Public DoposiU 17.554.0)0 1(j,63-2»000 8.070,000 Other Doposits 42,690.000 43,263,000 43,547,000 ProportioD of • reserve to liabilities ... 49,60 49.82 57.13 SOVEHNM.ENT SECURITIES. The following: aro the latest quotations for Government securities. with a con> parison of those ruling last week:** Variation m compared Price. with _ Iftst week. I £ <3. d. 2i% Imperial Consols 75 1'2 ti 10s higher 4 p .N.S.\V.1933Jan.-JuIyj 102 10 0 10s higher 34 ..N.S.'SV .1913.\laivSep, 97 0 0 Unchanged 3 , N.H."\Y.1935 Apl.-Oct. 85 10 0 Unchanged 4 ,.Vic. 1920Jau.-July 101 0 0 Unchanged 9£ „Vic. 1021-6 Jan.-July 95 10 0 Unchanged 3 „Vic. 1929-49Jan.-JuJy 82 0 0 , „S,A. 1916 Jan.-July Di 10 0 Unchanged 8 , S.A. 1916 JftD.-July 79 0 0 Unchanged 4 ..QTdMS-iM Jab.-July 100 10 .0 Unchanged 34 „ Q'l'dl921-b0Jau..July 0 0 Unchanged 3 ,.QTdiy22-47Jan.-July * 82 0 0 Unchanged 4 „N,Z. 1929 May-Nov. 102 10 0 !0s higher 3} „N,Z. 1940Jan.-July 94 0 0 Unchanged «i . 0 0 Unchanged pa „ W.A. 1920-40 iMay-Xov 94 10 0 U.nchanged p „ W.A,l91f)-j5ilay->»ov 0• 0 'Unchanged di „Tas. ]940JaiV.Jnly 93 0 0 Unchanged tt „ Taj. 1U2J-4J Jan.-July fc'4 0 0 Unchanged