COMMERCIAL ITEMS.

Dominion, Volume 6, Issue 1622, 13 December 1912, Page 10

COMMERCIAL ITEMS.

11 . 0: INVESTMENT SHARES. ° fc There were no . transactions in invest- J mont eharej. yesterday. Tlie quotations l „ wero so under:—, f, £ ' Buyer>. Sellers. £e. d. i> n. rt, « > Bank Sew Zealand 11 0 0 — „ » Wall. Trust and Loan ... — 710 0 « 1 Feilding Gas' — 1 0 6 E 3 N.Z. Ignorance 41J 0 — t Standard Insurance — 1-12 3 I Gear Meat 12 12 6 —■ • >■ Meat' Export (525. 6d.) ... 217 G 218 6 n B N.Z. Shipping ....: 14 0 0 - 1 s Union Steam 2 7 0 — ; Well. Woollen (ord.) 315 6 - ■ 5 Well.. Woollen (pref.) ... 217 0 218 D s Hikurangi Coal 018 6" — Taupi'ri Coal 1 2 9 1 3 0 t f lisyln.nd-o'Brien 1 6 9 1 7 6 t Tarinuamutu Totara ...' 2 4 0 • — ii J Golfen Bay Oemcnt ... — 1 1 0 e r N.Z. Drug- ■ ..• i - 210 0 f ; Sharlarid's ordinary — 1 1 0 n . Ward and Co — 5 2 6 t '' ~r i 2 f " r V, 1 ( S 'P f e c » s d 5 y li J I 0 ll fl d n 6 v ! * 9 I S Vi r; f f--0 :I s Ii 1 i e

SOUTH AFRICA'S TRADE. Some striking variations in the quantities and values of agricultural products exported from the South African -Dnion are disclosed when the latest returns, dealing with the first nine months of the current year, are compared with those for tho January-September portion of 1911. Shipmealts of maize; for instance, increased in quantity from 1,906,673 bushels to 2,484,004 bushels this year, values moving up from £233,528 to £370,162. Oats also increased, the totals for. the first three, quarters of 1911 being 110,466 bushels, worth £10,698, as against 319,022 bushels, valued at £35,363, whilst the exports of flour advanced from 2,163,0241b. to 3,506,0031b., the total of grain and meal shipments last year aggregating 143,738,5981b., valued at £292,488, whilst up to tho end of September, 1912, tho aggropates were 183,874,5501b., and £454,166. In butter, tho oversea shipments for the term under notice last year represented 234,1401b., worth £11,391, .tliis season's rsoord being 189,2391b., valued at £9165. Of the quantities 1 mrcniioned, hbwtevor, E18,40t1b., .in 1911, and 146,9731b. this year, were listed ao "imported goods re-exported," the South African butter shipped amounting to 15,732 lb. last year, and 42,316ib. this season, so that there ha-s been an actual. expansion in local produce exported. The trade of the Union was valued in the aggregate at £70,065,626 for the first threa quarters of last year, imports accounting for £23,030,385, and exports for £42,035,241. Tho aggregate to tho.end of September lMt was £75,262.741, or an inercaso of £5.197.115. imeorts being £1,084.653 higher at £29,115.038, and exports showing a gain of £4,112-,462, at £46,147,703. It is to bo feared that subsequent returns, owing to the occurrence of severe drought,, will be of a less satisfactory character.

N.Z. LOAN. AND JtEROANTILE. The profits and distribution of the Now Zealand Loan and Mercantile' Agency Company, Ltd., for the year ended ,luno 30 nro almost identical with thooo for the nrayiouo year. The dividend, la at the

rate of 74 per cent., less income-tax; and an additional 25 per cent, is accordingly paid on the third debenture stock, making the total distribution for tho year on that stock 7 per cunt., losb income-tax. A bonus to the staff has also been naid, and, assuming this to bo about £6000 (subject to correction), tho figures may be compared with thoeo for the two previous years as follow:— 19M-10 1910-11. 1911-12. £ £ £ Net profit IM.MO HO/,70 110,510 lirought forward... 360 297 293 105,300 110,767 111,111 Dividend 10.K8 10,151 10,151 Additional interest third deb. stock 9,588 9,588 9,588 Reserve accounts ... *>.CW 60,'C0 Gl.OO) Written-off premises 30.CC0 20.C00 2>,'jCo Staff bonus 5,267 6,734 6,CCO Stall'benevolent fund S.CCO 5,(01 5,0 0 Carried forward ... 297 293 372 In addition to the above ££0,000 transferred out of profits to reserve, a further £50,CC0 ha,s boon addod to capital reserve out of tho surplus arising from %e realisation of properties, thus bringing tho total reserves of tho company up to £720.000. Tho annual mooting will bo held on December 12. UNION STEAM SHIP 00. At the annual meeting of shareholders of tlie Union Stoam Ship Company, hold in Duncdin on Monday, it was announced that the directors had decided to increase tho capital of tho company, but no details wero given. Tho authorised capital is £1,000,000, and the paid-up capital is ££00,000, eo that tho company can raise another £200,000. It is thought very probable that tho sharoholdes will receive a present of 'there shares, that is to say, they will bo allotted pro rata, and tho amount of tho call defrayed out of tho reserve fund, which stands at over £7C0,C00. * NATIONAL BANK SHARES. The t'uot-ations for National Bank shares in the private cable message received by tho bank, and published in our ißsuo of yesterday, were incorrectly given—tho correct figures are: Buyers £5 16s. 3d., sellers £6. NATIONAL BANK DIVIDEND. The general manager of the National Bank of New Zoa-land, Limited, has to-day received a cablo message from London ndvfcing that the board of directors has declared an interim dividend for-the halfyear to September 30 last, at tho rato of 12 per cent, per annum, which will be paid in the Dominion on January 3. liy Tblerraph—Prose 'Asuuelatton-OoDyriabt (Eec. December 12, 10.5 p.m.) London, December 12. Tho National Bank of New Zealand has declared an interim dividend at the rate of 12 per cent. Customs 'duties collected at tho port of Wellington yesterday amounted to £2«2 4s.- 7d. LONDON MARKETS. Now Zealand Loan and Mercantile Agency Company, Ltd., and Reduced, have received the following cablegram from- their London., house, under date Decomber 11 :— Wheat.—lVo quote 365.'6 d. c.i.f. Australiancargo. Tho market is very dull owing to buyers holding off, and the outlook is discouraging. Wo quote per ouarter c.i.f. New Zealand wheat, long-berried, 345. 6d.; short-berried, 345. Tallow.—Wc quote present -spot value 3 for the following descriptions:—Good mutton, 395. per cwt.; good beef, 353. 6d. per owt.; mixed, 32-s. 9d. per cwt. The market is quiet. . . LONDON MEAT MARKET Mellsop, Eli'ott and Co., agents for Gilbert Anderson, and 00., London, report under date November 1, as fpllow6:—Meat market: The supplies have beon on a larger oott-lo than last week, and combined with unfavourable, weather, cawing a poor demand; prices have drooped. Home-grown: Scotch'beef, 6Jd., 63d.; English, 43d., 5Jd.; Irish, 4Jd., 6Jd.; English .and Scotch mutton, 5Jd., OJd.; Irish, 5c1., Cd.; Dutch, 5d., 6d.; English ami Scotch tegs, 5?d., 7Jd.; ewes, 4d., 45d; English and Scotch lamb, 6d., M.j Irish, 5d., 6Jd.; Dutch, 5Jd., 6Jd.; pork,' 7Jd.,-.-75d.; veal, 7£d., 8»d . Chilled beef: Big supplies again in evidence, and prices are as low as 2?d fores, 3gd. hinds. Frozen beef: 'Supplies are far greater than the demand, and holders are making li,V lncr/v, nn 41 t «li. fa|.,rl>*il nnnlnni HI-,,,.

big losses on tholv forward purchases. Now Keataud fores, 2Jd.; hinds, 3 3-fel.; Australian, 2<d.. 33d.; Plats,- 21d., 3 3-Bd. Frozen mutton: Although prices are not quotably higher, there is a very firm tendency on account of limited supply. Sheep of good ouality are 'scarra. ■ Southlands and best North Islands, 4 3-Bd.; ordinary, 4jd.; ewes, 3?d.; Australian jheep, 4d.: Plato. 3 15-16 d. Frozen lambs: The principle lambs on the market at present n.ro Southlands. Although Home supplies prevent higher prices for fro"?-n at present, it is generally considered that tho bottom has been reached. Canterbury, under 36 and 36/42, 5?, d.; 42/50, 5 l-16d.; Southlands and best North Islands, 28/42, 5 l-16d.; ordinary, 51d. . WHEAT. By Telesranh—Press Association—Copyright London, December 11. ; Tho American visible supply of wheat is set down at 111,139,1X0. bushels. . . (Hoc. December 12, 10.40 p.m.) London, December 12. Wheat cargoes are quiet; 363. 3d. is asked ior Australian March-April shipments. METAL MARKETS. London, December 11. Copper.—On spot, £75 10s.; three months, £76 10s. ! ■ . Tin.-On spot, £225 IDs.; three months, £225. ' . ~ , Silver.—B»r silver is quoted at 29Jd. per ounce, standard.. TALLOW SALES. : London, December 11. At the tallow pates 1389 cades were offered and 850 sold. Prices are unchanged. AUSTRALIAN PRODUCE MARKETS. (Rec: December p., 10.40 .p.m.) Sydnoy, December 12. Wheat, 3s. s*d. to 3s. 63d. Flour, £9 10s. Bran, £6 10s. Pollard, £7. Oats: Quotations for Algerians are nominal; New Zealand Giants, 3s. sd. Maize. 4s. 4d. to is. sd. Potatoes, local, £10: West Australian and' American, .£ll to £12; Tasmanian, £12. Onions, local, £6 to' £7 10s. Butter, selected brands, 1045.: prime, 965. to ICCs. Cheese,'' 7Jd. Bacon, 7id. to Ed. Adelaido,-, December 12. Wheat,- old, 3s. 7d.; new, 3s. stl. to 3s; 6d. Flour, £9 ss. Bran and. pollard; Is. 2d. Oats, 2s. 3d. to 2s. 6d. . ORIENT STEAMSHIP COMPANY. .By Telegraph—"Press Association—Copyright (Rcc. December 12, 10.55 p.m.) London, Decomber 12. The report of tho Orient Steamship Company shows that tho profits totalled £232,093. A dividend at the rate of 5 per cent on the deferred share 3 capital 'is recommended. A sum. of £55.CC0 is allotted to repairs and renewals; £50,CC0 is added to the gensr&l reserve; and £53,215 is carried forward. It is proposed to form an Or-ient Underwriting Company, with a capital of £lfo CCO of which £57,912 will bo offered to the holders of deferred share.-,. .Tho scheme obviates merging tho underwriting account in the general assets. TARINQAMUTU TOTARA SAWMILLS. At tho annual meting of shareholders in tho Taringamutu' Totara Sawmills, Ltd the chairman, Mr. Charles Stewart presiding, tho directors congratulated shareholders upon th". conclusion of another successful year. Tho balance-sheet showed' that nftor malting ample provision for depreciation, a net profit of £12,087 Bs. lod had been earned, which, with tho balance carnod forward from last year, viz., £1687 2s. 7d., loss interim dividend, £6000 left available tho sum of £7774 Us. sd. from which the' directors had pleasure in recommending a further dividend of '2s per share, payablo at the conclusion of the annual meeting. . The operations of the company had been 'somewhat hindered by a very wot v wintor, but the results obtained should be deemed satisfactory, and the directors know no-reason why the coming year should not bo equally so. Orders had boon considerably in excess of the company's output, and its throe mills had been in constant work. Tho amount written off for depreciation, viz., £5268, was considered ample. The main tramline was in excellent order. Tho directors hod pleasure in recording their hearty appreciation of the excellent services" rendered to tho company by the genenil manager and staff. It was significant in this connection that during the past two years the business of the company had boon entirely free from bad debts

Messrs. William nnnderson and Hugh G Williams were re-elected directors. Messrs. Williams, Hunt and Co., the company's auditors, were also re-elected