COMMERCIAL ITEMS.

Dominion, Volume 5, Issue 1531, 29 August 1912, Page 8

COMMERCIAL ITEMS.

INVESTMENT SHARES. A eo.lc of Tanpiri Coal shares at 2-3s. 3Jd. was.tho only transaction recorded in investment shares yesterday. The baring iind selling quotations were as under:— Buyer?. Seller?. £ s. d. £ s. d. Bank New Zealand 10 17 6 — National Bank 6 0 0 — Equitable Buildin-f — 10 0 0 National Mortgage ...... — 406 Feilding Gas 10 6 — Well. Gas (prcf.) — 110 Gear Meat (205.) 3 4 0 — Meat' Export (525. 6(1.) — 3 10 Mosgiel Woollen 3 7 6 — Well. Woollen ford.) 3 15 0 — Westport-Stockton 0 2 0 — Taringamutu Totara, 2 5 6 — Golden Bay Cement 10 6 — N.Z. Con. Dental — 12 0 Sliarland's ordinary — 13 0 STATE MEAT SUPPLY. Sonao months ago the West Australian Labour Government purchased the steamer Garius, re-named it the Kwinana, anil placed it ou the new coast trade, primarily for tho purpose of lessening the prico of moat. Tlio effect of the first shipment of bullocks by this steamer lias been extraordinary- The Kwinana arrived at Fremantle on Saturday last with 481 bullocks, bringing them down on a short market. The stock, which were grown on a station run under the supervision of the Aborignes Department, about 25 miles from Hall's Creek, where the Department- has altogether between 13,000 and 14,000 head of cattle, were conceded by those who saw them to be a shipment of fair average quality. Tlio Government decided not to offer the whole shipment for sale, but only those beasts which had suffered (lamago during the trip. These numbered altogether 138 boasts. Some of the auimala did not appear to possess high marketable value, but nevertheless the bidding was fairly keen, and, on tho whole, very satisfactory priccs were realised. Altogether 137 bullocks were sold at an average price of £6 18s. 9d. It was estimated that each bullock would average in weight about 5201b. The sales realised 3 l-6d. per lb. This is very fair price. The lowest prico realised for bullocks was £5 55., and the highest £8 2s. 6d., so that tho Government's first venture at lessening'the cost of meat lias proved a failure. The bullocks fetched a good price at auction, and the public will liave to pay just as much for their if not more than they have been doing. SOUTH BRITISH INSURANCE. The directors of the South British Insurance Company have notified shareholders of some important changos (has :»ro to bo made with respect to the capital and reserves of the company. It has been decided to capitalise the sum of £200,000 from tho reservo fund, which at the date of the last balance-sheet (August 31, 1 1911) stood at £554,598, by transferring tho ainonnt to the credit of the capital account. Tills will be effected bv making a. call of £1 per share (there are 200,000 shares) <ind declaring a bonus of £1 per Fhare from the reserve fund, and devoting the bonus to the payment of the call. \t present there is only 10s. per share paid un, and tliore is a liability of £4 10s., lint when this proposed adjustment ie effected the shares will bo 30s. paid up, with a liability of £3 10s. Some years ajro, when tho late Jlr. James Kirker was appointed general manager, he made a verv close examination tato tho finances of the coraJLfWi inu on bia recommendation tlio

shares were written clown. Under his manHgciiß'Jii. tne company innds marvellous progicbs, ami built up a very cubstum-iul reserve. The last dividend ol the company was Si per cent., which on taper looks very large, uut only i*35,100 was reuuircd to p:iy tnis. JlesiUcs the capital of iluu.UUil there is the reserve fund oi OiiA.bii lo Help earn dividends. -The market price ot the shares, los. nuui up, la about £J l°s., at winch pricu tho return to Uie Investor jb £q 12a. id., which, while exhibiting tho conlidence oi investors, is nevertheless ridiculously low considering that much higner rates aru obtainable on equally good, if not tetter, securities. UNITED KINGDOM STATISTICS. A return just iic-neil by the Board of Traile relating to ixauc. commerce, aud trie condition of tl:a people of the Onited Kiiiguum hiiovi.3 mat mo population oi til-a country has increased since the year istfl by •ii.ia.iw persons, tnu ligures lor 1911 being, however, provisional and subject to cuireutioii. The (team rate lor 1911 which is as far back as tlie statistics go, at W.B per thouranrt. ag-ainst 21.5 per thousand, tiio ligurM for IMO being 1O pel ttiousand. uirlh rate statistics show tnat iu lb'ft the ligure was 53.8 per thousand, while in ISU M.4 per thousand was registered, and in Will 23.0 nor thousand. With regard to pauperism, tho average liguros show that, compared with 1910, the number has decreased by some 7000, though theso iigurea do not compare favourably with tho-e of the period between 1891 and 1901, during which time a. very small proportion of paupers was shown in the returns. Tin total cost of poor relief for 1910' (the Dgures for 1911 are not yet available) amounted to £17,732,000, or some £150,010 above that of the previous year. This item of public expsnditurc has steadily increased from JE7.C58.1C0 in 1861 to the present figure of £17,732,01:0. The total clearings at the London Bankers' Clearing House during 1911 reached tho huge figure of £14,6R000,t)00, although this is still some £45,000,000 lower than the total of the previous year. Further evidenco of the great increase of tho country's banking iusinuss is shown by the fact that from 1871, when tho London clearing figures totalled some £4,8G0,CC0,000, to the present time a atoady increase has taken place, with few exceptions, the highest ■ figure being reached in 1910, when £1-1,659,000,000 were shown as having passed through the London Bankers' Clearing House. Customs duties collected at the port of Wellington yesterday amounted to £2597 Ids. Bd. KOTES. The formation of a. Belgian Match Trust was announced in "The Times" of July 18. A financial group, including bonks in Brussels, Antwerp, Liege, Paris,' and Lille, has recently constituted in Brussels a companv, under the name "Union Allumetticre,', with a capital of £259,000, to acquire control of the match manufacturing bi:eincreos in Belgium. At present the new company has acquired new match-works, with a general yearly output of about teven thousand million boxes, of which nearly one-third is for home consumption, i the balance being exported chiefly to EngI land, tho Indies, and the East. Acetone is a by-product of tho production of rubber, as, it (1-ho acetone) can also bo produced from maize or potatoes, but in itself it is a most important aE--et. It is only a link in the chain of rubber manufacture, but in this case it happens that the link itself is of great commercial value. Acetone is a commodity of which till now there hae been every danger of a shortage, and the pries has been forced up to £50 a ton. Synthetically it can bo made at from £35 to £45 per ton, and in unlimited quantities, and it is already being made on a large scale. Another by-product of great value is the fusel oil, principally used at present in the production of artificial leather, but aIEO for that of celluloid and artificial fruit flavours. It is the liquid produced (luring the distillation of ordinary alcohol, and gives bad whisky its special flavour. At tho present time-the , chief consumer of fusel oil ie the U.5.A.,. i which, in addition to tho quantity proI dncs'd in tho country, imports about 450,000 gallons (1800 tons) yearly, 'i/lio whole world's production is 3500 or 4000 tons a year, and till now has been a clofdyprotected monopoly in tho hands of one roan. Like acetone, it enn ho produced by tho present process: (a monopoly) iu unlimited quantities, and at a- cost of £35 to £45 per ton, the present prico of fusel oil being about £140. The total trade of llull for 1910 amounted to £73,234,653, of which tlio imports wero £42,262,026, nud the exports £30,952,627. The new joint dock, constructed at a cost of nearly £3,0t0,CC0 by the North-Eastern and llull and Barnsloy Railway Companies, is expected to be ready tor traffic by about May next. This will bo the largest, , ' deepest, and best equipped dock on the East' Coast of England, with: a water area of 80 acres aud a depth of 42ft. It is equipped with electrically -driven cranes, varying in capacity up to 25 tons each, with a floating crana capable of lifting 80 tons. In connection with it a-re two large graving docks —one 450 ft, by 66ft., tho other 550 ft. b> 72ft.. and provision is msdc for an additional dock 700 ft. by 81ft. Jlr. E. Bechcrvaise, tho Australian agent of tho Hull and Barnsley Railway Company, alfo reports that provision is mado for handling grain in bulk, by means of a silo to hold 40,000 tons, with eight quay elevators to disoharge from shin to silo at 120 tons per hour each, and eight conveyors and spouts to discharge from the silo into barges at the rate of 120 tons per -hour each. There are also portage elevators to discharge from fhips into barge?. For the receiving of merchandise and cargo there arc Fix warehouses, with floor space of 49,000 yards, equipped with tho latest appliances for rapid handling. Electricity is the motive power to he u=cd throncrhout the dock. A strong bid is being made to secure a portion of the Australian export trade. ' KEMPTHOBNE, PROSSER, AND CO. (By Telegraph—Press Association.) Dunodin, August 23. Tho directors of Kcmpthorne, Pressor, and Co. (Sew Zealand Drug Co.).have declared an interim dividend at the rate of 7 per cent, per annum. DEBENTURE QUOTATIONS. By Telegraph—Press Association—Copyright London, August 27. Yesterday's closing quotations were:— Dalgcty and Co. shares, £6 (buyers) and .£6 10s. (fellers), debentures, £98; Australian Mercantile, £97 10s. WHEAT. London, August 27. Wheat at Mark Lane is firm at 3d. to 6d. advance. Liverpool futures—October, 912 cents; December, 89J cents. (Eec. August 28, 10.30 p.m.) London, August 28. Wheat, 40s. 3d. is asked for Victorian April and South Australian Jlay shipments; and 40s. for Kmv South Wales April shipments. Liverpool futures—October. 91 cents; December, 883 cents; Chicago September shipments, 93* to 94J cents; December. 93 to 94 3-8 cent*. • The American visible supply totals 33,711,000 bushels. METAL SUBSETS. (Sec. August 28,10.30 p.m.) London, August 23. Copper:—On spot, £79 15s. per ton: three months, £79 163. 3d.: electrolytic, £18 15s. 1 Tin.—On ?pot, £210 10s. per ton; three months, £209 10s. Lead, £20 ss. per ton. SILVER. London, August 27. Bar silver ie quoted at 28 3-Bd. per ounce standard. MINING NEWS. WELLINGTON SHAEE MARKET. The transactions in mining Ehare» record, ed yesterday were as under:— KocS Reconstructed, ss. fid., Sβ. 6d. (first C Taiisman, 40s. 9d. (first call), 415., «s. (second call), The buying and selling quotations were as under -.— Buyers. Sellers. £s. d. .£s. d. Dominion 0 0 3 0 0 5 Kuranui Caledonian 0 15 0 17 New. Sylvia Oil 013 Eo=a Reconstructed 0 5 6 0 5 9 Talisman 20 9 215 Waihi 114 6 -115 3 Waihi Grand Junction ... 1 1 3 119 Waiotahi 0 2 0 - Waitangi " - "12 STOCK EXCHANGE. (By Telegraph.—Press Associa.«'on.> Auckland, August 28. Business done at this morning's call;— Kurnnui Caledonian, Is. 6d. ' New' Sylvia,' Is. Id., Is. 2d. Occidental, Is. 2d. Saxon, 15. Id. Watchman, Is. 2d. Talisman, SI Is. South British, £3 19s. Waihi-l'aeroa, £1 15s. M. Wcstport-Stockton, 2s. Sd. The following business was done at Hie 2d. Success Dredging Co., £1 Iβ. kl, £1 Zs., £1 Is. 6d. Jloy Queen, Hd. National Banli, £6 Is. N.Z. Insurance, £4 Hs. 6d. Northern Coal, 11b. Bd. Taupiri Coal. £1 3s. 3d. Wcstport Coal, £1 8?. 3d. Auckland Oa-s. £3 4s. Northern Stoam, paid, 15s. 4rt. Kauri Timber (con.), 17s, Auckland* Trams (ord.i, £1 t>, Wilsw'a Cement istti.), £1 16s. li<

Chrlstchurch, August 28. Salos reported on 'Change:—Permanent Investment, .£10; Union Steam, £2 75., £2 7e. 9(1. Dunodin, August 28. Tho following eMcs were reported on tho Stock Exchange to-day:— D.1.0. (ordinary). 6s. M. Union Steam, £2 7a. 9d. Standard Insurance, £1 11s. 9d. Portland Cement. £1 Bs. Donaghy's Rope and Twine, £1 6s.