COMMERCIAL ITEMS.

Dominion, Volume 6, Issue 1724, 15 April 1913, Page 8

COMMERCIAL ITEMS.

INVESTMENT SHARES. 3 Tho sales recorded yesterday wero Metropolitan Building at. £12 10s., and Wellington Meat Export (525. 6d. paid) at 565. 9a. ] The quotations wero as under:— ] Buyers. Hellers, j £s. d. £b. d. j National Bank, old 5 16 5 3 6 - National Bank, new — 5 0 u • Bank New Zealand 11 8 0 ; N.Z. Loan and Mercantilo 0 10 0 -* Well. Trust and Loan ...- — j 5 [ , Well. Gas (£10) - 16 3 0 N.Z. Insurance 5 0 0 , Standard Insuvaiicc — 1 I<s 0 1 Gear Meat (£4) 12 5 0 - Gear Meat. (205.) 3 2 6 N.Z. Shipping — • 16 10 0 Mosgiel Woollen — 3 12 0 Well. Woollen (ord.) 313 0 .7 Taringaraut-u Totara — in" Golden Bay Cement -- 1 u a Manning and Co 3 19 0 — N.Z. Con. JJental ......... 10b Ward and Co 4 17 6 5 1 0 W.RC.A. (£5) - '50 NEW ZEALAND LOAN AND MERCANTILE AGENCY, 'With tho sanction given by Mr. Justice Neville, sitting in tho ChanceVy Division, a few days ago to the legal details of tho scheme, the reorganisation of tho capital < account of the New Zealand Loan ana Mercantile Agency Company will bo completed at an early date. Tho net result is that instead of a prior lien debenture debt of £2,350,000,' a second debenture debt ■ of £540,000, and third debentures representing £405,000, together with £135,036 of ordinary capital, and an uncalled liability on tho shares of £1.766.000, the capital will now consist of £1.000,000 of prior lien debentures, £1,0C0,C00 of second debeutUTCS, and £1,000,000 each of preference and or- : dinary stock. In order to carry out this i rearrangement it is nccessary to call up a largo amount of capital, but, on., tno other hand, a special cash bonus of 15s. per 10s. paid chare lias been announced to those shareholders who participate in the reconstruction scheme. Tho prosperity of this company during reccnt years hao been steadily progressive, but, owing to tho complicated state of its financce, Jt has been difficult for tho general body of shareholders to appreciate the strength ol its financial position. In future, however, there will bo no complaint on this ecoro; on tlio contrary, the diriectors should now bo able to pay increased dividends, in view of the fact that there, will no longer be any question of further participation by debenture-holders m prolits over and above their fixed rata of interest, this having been the stumbling-block \vith which the board have hitherto been faced. The addition of the name of Mr. Alfred Shepherd to the list of directors Is a satisfactory development, for ho has been associated for many years with Australasian land and mortgage concerns. NEW ZEALAND INVESTMENT CO. • Tho balance-sheet of' tho New Zealand Investment Mortgage and Deposit _ Company. Limited, for the year ended March .31 Last has been circulated. The directors "in their report state:—"The net profit on 'tho year's business is £1657 Cjs. 5d., to which must he added tho. sum of £74 14s. 10a., brought forward from last year, maluug a total of £1731 15s. 3d. An interim dividend of 2J per cent., amounting to £545 4s. 2d., was declared and paid for the liairyear ended September 50, 1912, leaving £1196 lis. Id. to bo fcalt wjth. The directors recommend the payment of a further dividend of 3 per cent, (making 54 per cent, for tho year), which will absorb £557 26. Bd.; the dividends on shares allotted during the year being . calculated as from date of allotment, in Tcspect of application and allotment moneys paid, aud in respect of caller paid as from dates of payment of same; that £4CO bo carried to tho re c erve fund; and that tho balance of £139 83. sd. be carried forward.' PRODUCTS EXPORTED. Tho values of tho principal products exported from New Zealand during tho year ended Ma.rch 31 last, compared with the. figures for tho previous year, eliow as und°r:_ 1913. 1912. -. '£ £ ■ Butter ...... 2,068,683 1,776,440 Cheese-- iu 1.859,179 1,297,088 Beef 324,578 250,304 Mutton, carcasses ... 1,600,723 1,161,439 Mutton, legs and pieces 43,522 "155 Lamb 1,825,342 1,750,236 Wheat 95,414 197,623 Oats 468,880 37,502 Potatoes 150,601 6,439 Hemp 483,353 310,884 Babbits 50,851 78,041 'Paw 41,005 23,289 - Kauri cum 430,200 368,228 Grain and pulse 163,008 101,861 irons 20,698 11,594 Hidea 234,735 159,835 Skins 871,941 676,407 Tallow 663,476 , ■ 566,873 Timber 475,230 468,181 Wool 8,065,351 6,579,074 Gold 1,305,217 1,747,877 £20,580,109 £17,604,870 There is an increase to the credit of the past year of £2,975.239, ociual to a,bout 12 per cent, which is exceedingly satisfactory. CUSTOMS KEYENUE. Customs duties collected at the port of Wellington yesterday amounted to £2137, 14s. 3d. HIGH COMMISSIONER'S OABLEGBAM. Tho Department of Agriculture, Industries and Commerco has received tho following cablegram from tho High Commissioner for New Zealand, dated London, ; April 12. (Note: Quotations, unless otherwise specified, are average market prices ■ on spot):— ; Mutton.—'Tho market is very firm. There ; :is a good demand for all qualities. Oau-:-terbury, 4!, d. per lb.: North Island, 4id. I Lamb.—Tho market is very firm. Stocks I on hand are lisht. Shipments now -arriving are very email. Canterbury, 6fid. per . lb.; other than Canterbury, 6 3-Bd. Beef—There is a better demand. Tho 'market, lias advanced. Nov,- Zealand hinds, 4Jd. per lb.; fores, 3id." Butter—Tho market is firm foT choicest-, but dull and declining for ordinary quality. Choicest New Zealand, per cwt., 115s. (salted), 117s. (unsalted); Australian ' and Argentine, 108s.; Danish, 1205.; Siberian, 110s. Cheese.—The market is dull. Buyers are holding back expecting prices to go lower. New Zealand white, per qwt., 605.; coloured, 59-=.: Aaistro-lin.il, .white 695., coloured 585.: Canadian, wliito 655„ coloured 645.; English cheddar, 745. Hemp—Tho market is very quiet; not.liine doing. There is a disposition to sell distant hemp. The market is speculative. Spot, New Zealand, good fair grade, per ton, £33: fair grade, £30; fair current Manila, £33. Forward shipments: About tho same. The output from Manila for tho week was 16,000 bales. Wool—Tho market is quiet, but firm. 1 Buyers are waiting definite information re- ■ gordina American Tariff Bill. Kauri Gum.—Dark brown, selected, rescraped, per cwt., 130s. to 1505.; dark brown, three-quarter scraped, 90s. to 100s.; dark brown chips, dressy, 40s. to sfe.; Te.scraped palo amber. £11 to £13; threequarter pale scraped, £8 10s. to £9 lCs.; diggers' chip?, good, 655. to 80s. WHEAT AND FLOTJR AFLOAT. 1 By Telegraph—Press Association—Copyright London, April 13. Shipments of wheat and flour afloat tor Europe on April 12, compared with a- year ago, were:— 8 April 12. April 13. 1913. 1912. Quarters. Quarters. United Kingdom 4,145,CC0 -4,200,000 Continent 4,670,000 2,420,000 8,815,000. 6,620,000 Tho wheat shipped from tho Atlautio and Pacific Coasts of North America during tho past week and for the corresponding week of last year is estimated by "Bradstrect's" to be: — Atlantio Coast 372,000 159,000 Pacific Coast 15,00ff — 387,000. 159,000 The total shipments to Europe from all eiporting countries during tho weelt amounted to 1,585,000 quarters, including ■ 165,000 from Australasia, as against 1,170,000 quarters, including 102,000 from Australasia for the corresponding period of last year. WHEAT MAfIICET. : The wheat market, is quieter, 38s. 6d. is asked for Australian JanuaT.v, 37ii. 10Jd. for • prompt delivery, and 38s. lid. to 3Bs. 4id. for consignments on. passage. LONDON MARKETS. 1 By Telegraph—Press Association—Copyright London, April 13. Copra—There is small biitfiuec-s doing. , South Sea, in bags, afloat, £29 2s. 6d. per Cotton.— April-May shipmcufs of Anieri- ■ nan middling cotton are clearing at 6.67} d. 1 por lb. Jute.—Native first-marts, Apnl-May ship. . mont, are selling in Dundee at £29 per ton. New Zealand Hemp.-The market is In- | active. March-May shipment, £33 10s. per ton. Hubbor.—Fine hard I'ura rubber is quoted at 3e. 4id. per lb,

Hides. —A small supply available, .nid tlio quotations are nominal. Queensland, 9id. to 93(1.; Sydney**, 8 11-16 d. to B*d. Leather.—Tho market is dull. Host heavy Sydney, 13id.. to lSd.: Now Zealand basils, firsts, 16! d. to 22d.; Sydney;, 13d. to 16(1. MANUFACTURED METALS. London, April 13. Galvanised iron, first brands, £16 15s. per ton; second brands, £14 10s. Tin plates, 1.0. coke, 14a.; I.C. charcoal. 16s. Anglo steel, £7 per ton.