COMMERCIAL ITEMS.

Dominion, Volume 1, Issue 1760, 27 May 1913, Page 8

COMMERCIAL ITEMS.

INVESTMENT SHARES. There were no transactions in investment shares yesterday. Tho auotations were o*s under:— Buyers. . Sellers. £ s. d. £ d d. National Bank 4 19 0 — Christchurcli Gas 7 7 0 7 10 0 Wellington Gas (£10) — 16 2 6 N.Z. Insurance 5 2 0 — Gear Meat (£1) . 3 2 6 - Meat Export (525. 6d.) 2 19 0 — N.Z. Shipping 15 8 6 v - Kosgiel Woollen — 3 12 0 Westport Coal — 16 9 W-catport-Stockton 0 2 9 — Taringamutu Totara 2 4 0 " Golden Bay Cement — 10 3 Manning and Co 4 0 0 4 4 0 Ward and Co 4 19 0 — W.F.C.A. (£5) - 7 4 0 W.F.O.A. (£1) - 18 6 CO-PARTNERSHIP. Yet another effort is being made to device an effectual method of co-partno.rfihip. The scheme is embodied in a. privato Bill, which was introduced in the British House of Commons 1-aet month. Tlio main objects ere:—To enable companies which otherwise would be debarred .from so doing to set out, in the form of a. schedule, a model eoheroe of voluntary co-partn-crship, and to provide that euch scheme shall be a condition for the granting of statutory power to new companies jto raise capital. Certificates of partnership in tho objects of a company and a share in its surplus profits are to be granted to all persons in it<? regular employment. It is provided that the standard race of wages shall ho taken to 'correspond with a standard return of 5 per cent, on all paid-up capital, and when the return is higher than 5 per cent, the employee is to become entitled to a bonus, calculated at one-twentieth of hi 3 exist-in? wages, for every 1 cent, paid in dividend*. Thus a company with a paid-up capital of £100.000 and a normal wage bill of £2Q.CCO would, if it paid 6 per cent., have to give its employees an extra £1000, or £21,000 in- all; if .it paid 10 per cent.. £25.000; and if it raid 15 per cent., £30.000. Similarly, a workman receiving a standard vrago of 30s. per week would pat 31s. 6d. on a dividend of 6 per cent., 375. fid. on 10 per cent., and 455. 011 15 per cent. It is considered, however,, that the whole of the bonus should not be paid over in cash, but that a trustee should be appointed, to whom half at least of the bonus should bo handed over for investment, if possible in the shares of the company it?clf. Tho measure contemplates the adoption' of special regulations applicable in individual instances wliero such are considered advisable, and, in • particular, power is to be allowed for the fixing of a lower rate of bonus when salaries and wages represent a specially high proportion of the annnnl cost of the business of a comnany. Trustor* and dircctore are to be eiccted to adjudicate upou any differences t.hnt may arise, and tho Fcheme is to deal only with "statutory and other companies."

SLAUGHTER OF CALVES. The fmanci-.il loss through the indissnirainato.slaughter of calves is brought out in.the anmta.l report of Swift and Co.. the bie meat packing firm. It is there pointed out that the United States, which is tho biggest consumer of veal, has been supplanted by South America as a purveyor of beef to the ro»t of the world. During 1911 it is stated Micro were 8.000,000 slaughtered, the average weight of tlio animals 701b. each. Had these boosts been allowed to live for one year, they would have furnished 4.S(!O.QGO.COOIb. of b?ef instead of the 560.000,000111. of .immature moat actually realised. A New York financial publication is .responsible for .i statement to tho effect that some.tinio -ago the ela-iighter of female cattle under pis. years old was -leg-ally prohibited - in Argentina, v/ith crrcat benefit to that country as a meat producer; but the assertion lacks confirmation' from ouy oflle.'al source, and if. not given credence. lu some parts of the Ifapublic regulations for the killing of .voilng cattle are snid to be in existence; but, according *to all accounts, they are more honoured in the bmich th.m the observance. and it is urged that drastic action must be taken, .in' the near futyrc, if the herds of Argentina arc to be preserved from practically complete extinction as osource contributing to tho moat supply of the world.

N.%. CONSOLIDATED DENTAL. The fiftocnth amuT<a.l freneral meeting of the Now Zealand Coiu^oJidalcd Dental Co., Ltd.. wos held last evening at Hie registered offieo of the company, corner of srcr« cor and Cuba. Street Street Extension. Tlio working of the year showed a, profit of £2506 12??., which, with the addition of£Ko Bs. <d. brought forward . from last year, made -a total of .€2647 Os. 4d. This was anrlied as follows:—To payment of a dividend of 7 per ee.nt., £2£G9 3s. *d.; 15 per cent, bonus (3d. in the pound) to holder® of 5 or more shares at March 31. 1913, on their purchases for the year. £221 lte. 2d.; reserve Account (mak-in/? some £5450). £20!); to be carried forward to next year, £165 2s. lOd.: t-otal. £2647 Ds. 4d. J. G. W. Aitkin and Andrew Gray, tho retiring director?, wore re-elected. TTTGTT COTMISSIONEtt'S CABLEGRAM. The Department of Agriculture, Industries, and Commerce has received the fclbvunc cablegram from the Ili&h Commu--«io»or for New Zealand. daled London. May 26. /Note: Quotations, nnlesn otherwise s-pecitied, ore nAcra<:e market prices on spot.):— Mutton.-The market h firmer, with a better demand. Canterbury, 4 3-fid. per Jb.; North Island, 4?,f1. Lsmib.—Tho market is ouiet. Canterbury, 6Jd. per lb.; other than Canterbury, fid. liCef.—Thn market i« ouiot. There i* less demand. N.'/. hinds, 3?d. per lb.; forre,3J.d. Butter.—The market, teY-iteady. No chanco in prices. Choicest New Zealand, per cwt., 113 s ".; Danish, IKs.: Siberian, ICOs.; Australian. 106'-?.: Argentine. lC4s. Cheese.—'There i* a better demand. New Zealand white, per cwt., 595. 6(f.; coloured. 57.?. f»d Ifeinn.- The market in dull. Ma-nib- i.* freely offered fn-r snl" by spc.'ulat'irv. New Zealand, good fair, per ton, +-31 30?.; finr. £2A; foU .«u?frciiv iianHa, £32. FonrflJ , d v

.shipment.: .lime lo August: Nciv /calami, good Tail-, per lon, £32; fair', .128: fair currout .Manila. .1152 10s. Tlio output from Manila for tlio week was 18.000 halen. Wool.—Tlio mo tlivl renjoi n,4 Jinn, Customs duties collcctfil til the port, of Wellington yesterday amounted to £1627 fo. 7d. i LONDON MARKKTS. By Telegraph—Press Association—Copyright London, Mav 25. Hides.—Dull of sale. Small offerings at nominal quotations. Queensland's Oiid., 63d.. nnd Bill, ihm- pound; Sydncv, B'|d„ B»d., aml 8 3-8(1. I.eathcr.—Market firm, llest heavy Sydney's. 13* d. to 15(1. ii or pound; Jlelbourne'B. 3Jd. to 16d. 7ier pound. Ilasila.—First f\vdne.v'.s, 13d. to ICd.; first New Zealand, 16} d. to 22d. per pound. . Cotton.—May-.l line shipments ot American middling cotton ore clouring at G.s3id. per lb. Copra —Tho market, la firm. South Sea, in ba::s, £28 per ton. .Tule.—Native Ilrsf marks, May-,Tuno shipliiout. .£29 10s. per ton. Homp.-Tho market is quiet mul tending downwards. Rubber.-Fine hard I'.i.ra rubber is quoted at 3s. M. per lb. WHEAT AND FLOTJIi. London, May 25. RhipnVftnts of wheat and llour afloat for Europe on May 24, compared with a year ago, were:— May 24, May 25, 1913. 1912. Quarters. Quarters. United Kingdom 3,880,(00 3.945X00 Continent 3,605,000 3,655,C0C1 7,485,000 7.&00.CC0 Tho wheat shipped from tho Atlantic and Pacific CoAsts of North America during the past week and for tho corresponding week of last yea.r is estimated by "Bradstreet's" to be:— 'Atlantic Const 553,000 617.000 Pacific Coaet 22,000 nil 575,000 617,000 Tho total shipments to Europe from nil exporting countries during tho wock amounted to 1.755,000 quarters, including 129.000 quarters from Australasia, as ayaimit 1,410,000 nnartcrs, including 35.000 from Australasia for tho corresponding period of last year. FINISHED METALS London, Mav 25. Galvanised Iron.—First brands, £16 15s. per ton: second brands. £14 10s. Tin Plates: X.C. coke, 14s. 4Jd.; I.e. charcoal, l£s. 4Jd. Fcncing wire, £6 7s. 6d. per ton. Tram rails, £5 14s. 6d. per ton. Aluminium, £88 to £92 per ton. SILVER. Bar silver is quoted at 27 13-ied. pur ounco standard.