COMMERCIAL ITEMS.

Dominion, Volume 6, Issue 1661, 30 January 1913, Page 8

COMMERCIAL ITEMS.

INVESTMENT SItARES. ' A eale of National Dank shares at £6 2s. 6d. was "the only transaction recorded yesterday. The Quotations wero as under:—

LO'jAf; Domts 1 i.o.us. Tho experience of tho Auckland Harboiir , Poind in the London money market ha; i> - ' o

not been such as to encourage other local bodice 'to approach that market. Tll<! Auckland Harbour Board had to allow 5 per cent, interest on its 25-yoar bonds, and then only obtained par. In December, 1908, this same board placed-£250,000 in 41 per 'cent, in 20-year bonds and obtained ,£lOl. Thus, just about four ycare ago tho Auckland Harbour Board oflored It's, per cent, less in interest, and tho bonde had five years lota to run than those issued lost-week, and yet' the board', was able to soil Its bonds at £101, that is, it received <i premium of £1 per £100 bond. The loan just floated was in every Way a better investment than tho earlier one, and yet tno. bonds only realised par. During tho pant five years .the local bodies have borrowed somewhat freely in London, and the 'following table ia interesting :— _ . Amount. Trice. ■>1908. ■'' Local body. £ l>-c\ £ Mar. 14 Dunedin .City 250.C00 4 ICO July 20 Wellington City ,100.000 4 100 Oct. 22 ChriGtchurch City ~...'■ J8.7C0 41 102J Dec. 12 Auckland Harbour .. 250,000 41 101 1909. ,Tan. 17 Auckland City ;...' 90.C00 4 1011 Jan.-21-Dunedin' City ............ 206,900 '4 ICOJ Feb. 5 Wanganui Harbour ■.. 100,000' 5 101 Feb. 12 Westport Harbour -.200,000 5 101 Apr. 29 N.Plymouth Harbour 279,000 4J 101 liny 26 Auckland Drainage,:. 100,000 4 ICO ' .1910. -' . Feb. 12 Auckland' City 343.000 4 . 1011 Oct. 16 Gisborno Borough 17S;DC0 4 100 1913. - '■: Jan. 26 Auckland Harbour ... 250,000 5 MOO NEW ZEALAND AND EIVER, PLATE LAND 'MORTGAGE.. .., The.report of the Now Zealand andEiver Pla,te Land Mortgage, Company, Ltd,; for thc''year ended October 31 last states that in accordance with the, statements made- at the last general meeting 60.000 shares of £1 each were in February offered to shareholders at £1, 176. 6d. :por share, 17s. Od. being made payable on application and allotment and tho balance of £1 per share on September 4, 1912. Tho applications wcro largely, in excess of the EO.CCO shares offered, which were duly allotted and have since been all paid up in full. The sum ,'of £43,750 arising from the premium of 17s. 6d, per share has been carried,to tho reserve. ' The net profit, for the year, ..exclusive, of-the amount brought forward, amounts to £54,812, and compares with . £50,078 for the year Vmded October < 31, 1911, beintf an increase of £4733. By the-addi-tion of £10,367, Drought forward, tho balance to credit of profit andUoss account amounts to £65,179.; Out of thissum an interim dividend of 5 per cent, for the lialf- , yoax ,ended April! 30,' 1912, was paid on £1 per share on 300,000 shares and.on ICe. per shard on .the 60.000 new. issue shares, amounting to ; £16,250, leaving a euui of £48,929, which the ' directoi'6 recommend, should 'bo applied as follows :-To rayment of a dividend of 5 per' cent» on iSO.COO shares.of £1 caoh, making a.totalvdistriliution ofj 10 per cent, for the, year, trans- ; forring to reserve ; £26,250; leaving to be , parried, forward £5179.- The: addition of. the nbovo sum of £26,250, together *ith\ the 1 £43,760 derived"from the premium on ■the now issue, will rates, tho reserve to £410,500.

Customs (luties collected dt the port of Wellington yesterday: amoumted to. £2175' lis. w. ;-.;• ' '.-, ' ""* ,:'■■ i , . ' DIG DisALS.IN, 3DTELB. . ,'. ... (By Telegraph—Press'Association.) ..... '-.',<•'■ Auckland. January 29. ■'"■ Four h'g deals in hotel. property ham just been completed in Auckland, and the flgdros available indicate the extent to wkich southern firms are willing to operate on the Auckland property market. Tho business negotiations referred to nave been carried out b^. Messrs.' Speight ana Co., brewers,' of Dunedin.in conjunction with Messrs. f and W. : Young, "spirit incr-■! chanta, o£' Wellington. .Ten-year . ..leases.: have beenisecurcd by these two firms from: the owners. -Messrs. P. and' J. C. Gleosdn,, of the Windsor Castle Hotcl'in Parnell.'and the' Prince Arthur- Hotel, in. -Wellesley Btreot, 'As consideration, for immediate poEeession, a cash bonus of £10,000 ;., has been paid to the: owners, and.tho ten yearß. loaiois to run at a rental of £1000 •'. per year,.or, £5M per house. In addition tho same firms have acquired the- freehold of the Oxford Hotel, in.', VictoriaX Street, for. £10,000, and the. Queen's Ferry Hotel 'In. Vulcan Lane passes into their hands at.an oven bigger figure. Four hotels have t(ius been 'secured iby those two southern' firms, at a.cost/of nearly £50,000,,:,, .•;•■';, ; . '.'■ ';'. ■~ IAtroKLAND wooii'^ALE.:';>;■;': ■' (By Tclograph.-Spccia.i Correspondent); ;' :" '.;\ , • '•■'■'.''. Auckland, Jahuary';Z9. 1 .' l . The'second''wool sale of the season C..to. bo held onFriday, promises.to bo o, great auccesH both os regards ouantity and qual-, ity; ' The total number :of,-bales: to-be; offered' approaches 10,000.: This figure is made up as follows:—Messrs/, Dalgety and Oo.i ■Ltd.,'32BS; .Messrs. Alfred liuckland and .Sons,' 3070! .N.Z. Lpan and "Morcantilo 1 A#<ftiaj»'CompMiyV Ltd., 2960; andi-MKC-TiS., •G. W; Bfnncy and '•one, nearly ;9CO. ■ At the first sale ot tho ; season, rhold last iNovem-. bor, tho total number of-bales offered,was 8309-. The incrcaEO is accounted for by the fact that a number of, bales wcrc r shutout from' the first sale ' by,: difficulties .experienced in shearing. : Owing to the good conditions that* bavo prevailcd'of• late,, faTm-, 'ers have had, bat few' difficulties,to contend' with. "'The;wool;.as far as can'be'.as; ccrtained.'ls of good quality. 'The,majority of- the, bale;? arc'of lyiiform 'quality, tho farmers'having the,wisdom qf, putting: the mixed sorU in:,bales ').<y ■ tliemEe(vcs, tho wool being clean and-light In'ureaEo, tho bulk may weigh up lighter than usual, but pr'ces aro expected to*moro than cpm J pensate for the .loss'of-weight. .(:,-.

.« '.•.'■•■'.■ ' ' !. . jBuyore. -Sellers. ■I ' ' t\ .' £ s..d. ■•■■ : £ j. d Bank Now'Zealand 11 .26.. 11 5.0 ) National Bank ....... —". •., 6-3 0 ■N.Z.'Lban' ant) Mercantile' •■;•■ ', , (ios.)v: ,......'. v ..:.o 9 0 :,.••-. N.Z. Loan and Jlcrcnntilo I ■ (20a.) ....-.-...: .'.•........ - >' .-. <* 18 8 N.Z. and Ki\ci\ Plato ...... ■ >—■• "«,.<! Well. Trust arid Loan ... —' . i 8 C Vellding Gas '..' —' 1 0 J , Napier Gns .'■'■ : —.. 20 0-0 5.11. Insurance — ■ 3'U 0 Standard Insnranre ■-.-' 1 12 3' . Heat Export (52s. 6d.) - . , 2 17 C . N.Z, HluppiliK ,14 10 0* Union Steam ■.... 2 6. 9 , 2 6 9 Well. Woollen (ord.) .: 3 15 6 -Jl! 6Well. Woollen tinef.) - 217. i Wcstport Conl 17 0 ■■•■-- Lcyland-O'-Bricn '.- — . ' 17 6 Golden Bay Cement .. — . • 1-0 ■ C N.Z. IJniB •■-•■ " 2,10 0 fiha'rhiidV crtliiiary ■ ■•- ' 110 W.F.C.A '..' - : 7 5 0 .