COMMERCIAL ITEMS.

Dominion, Volume 6, Issue 1769, 6 June 1913, Page 8

COMMERCIAL ITEMS.

INVESTMENT SHARES. The sales reported vesterday were: Najiier Gas (£lO paid), atr £16, and £5 paid; at £8. The Quotations were, as under.— Buyers. Seller*. £ s. d. £ a d. X.Z. Lom and Mer. (pref.) 96 0 0 99 0 0 N. 7,. and River Plate ... 1 19 6 2 0 6 Well. Invostment. 0 11 3 — Well. Trust and Loaa 7 3 0 — Christchurch Gas 7 8 6 — Well. Ga s (£10) 16 0 0 - Wellington Gos (pref.) ... 1 0 0 — National ,Insuranco — 2 4 0 Jf.Z. Insurance 5 2 6 . — Standard Insurance ......... 110 0 — Christchurch Meat 15 10 0 — Meat Export (£4) 4 15 0 5 0 0 Meat Export (525. 6(1.) 2 19 6 — N.Z. Shipping 15 10 0 — (Jnion Steam 2 1 9 2 2 6 Hi'lcurangl Coal 0 12 6 — Taupiri Coal 110 — TaringamutU Totara 2 2 6 2 3 6 Donaghy Rope and Twine — 16 0 Golden Bay Cement — 10 1 Ward and Co. 4 19 0 5 1 0 W.F.O.A. (£sl — 7 3 6 W.F.O.A. M3l) - 18 6 FIRE AND ACCIDENT INBUKANOE. From the reports ot several of the lcatU in? fire and accident insurance companies having .headquarters in England', it is evident that 1912 was a, profitable trading period, more especially in the former section of the business. Many of the nontariff offli'cs which were established within the last few years havo now cither passed out of existence or aro inerpod in _ other concerns, and tho consequent reduction m numbers can hardly fail to have some effect in checking the downward tendency of rates. Losses hare not been oxccsf-ive. and it is probablo that the increasing use of automatic fire extingirshing appliances had a considerable cffect in checking expensive outbreaks, and consequent loss to the companies. Ou the other hand, the financial statements show that expenses have a tendency to increase, _ a feature which is thought likely to continue as tho companies become more advisory, and nreventite in their woi",;. The revision of the rst.es for workmen's compensation insurance bad some effect on aocidcnt business, ana

tho experience trained tlierefrom should ho c, guide in tho matter of fixing adequate rates. Oil the whole, tho record, from tho shareholders' standpoint, is deemed satisfactory. In X number of instances, increased dividends wero paid in respect of last year's operations, and the outlook is considered promising lu that resect. ' EQUITABLE LIFE OF NEW YORK. Tho death of J. Piernont Morgan, who owned over 500 . shares in the Equitable Life of Kcw York, the "Spectator" (New York), .thinks may brine about thf mutualisntioii of that company earlier than had been hoped for. Mr. Morcan had lone cherished the idea of chancing the company from a stock basis to the mutual plan, and, at a conference between J. P. Jtoriran. jun.. and Judge Jforgnn J. O'Brien, chairman of the trustees, the former expressed himself as desirous of carrying out his father's wish. At this conference Judge O'lirion tendered his resignation a* chairman, but ho was roquestou by 3lr._ Morgan to continue to sorve. and it is believed, that George W. Perkins and Lewis Cass Lodyard, the other two trustees, will also continue to act in that capacity. Tho Morgan estate holds 502 of the ICOO shares of the company, for which 3.000,C00d01. was paid. It has bean maintained' by the minorI lty stockholders that the Equitable had no right to pay GOCMoI. a share for tho Morgan, block, and a smaller price for the minority holdings, as at tho price tho acquisition would consumo nearly all tho society's free surplus, but now they will abide by any suggestion made by the trustees following a conference with, the mutualisatlon committee of the Equitable. Superintendent Emmet of tlio New York Insurance Department has been endeavouring to bring about the mutualisatlon of the company for' somo time. NOTES. Tho Kauri Timber Company has announced aa interim dividend at the rate of B per cent, per annum, payablo on June 19. As recently as 1900 the grass enrninss rf tho Anglo-Argentine Tramways Oo„ which provides tramway facilities in Buenos Ayros, were odly £264.615. but In 1912 the? were £2,778,302. The number of passengers carried at the earlier date was 28.495.641. and last year Jt was 316,260,077. Tho net profit for tho Dast year was £954.281. The South African trado returns for the three months ended March 31 show a substantiaf increase in the value of exports of South African produce, which amounted to £17,094,215, agai'nst £14,768.943 for tho cor-' responding period of last year, or an increase of £2,305,272. Amoncrsf, tho principal exports for the three months are raw gold. £9,380,269, against £9.153.799; diamonds, £3,216,295, against £2,261.041: coal,. £337.517. against £300,096; and wool, £2,081,567, against £1,476,037. Imports of merchandise and Government goods for the three months amounted to £9,891.471. against £9,645,582. a slight increase beine shown.' Tho incrcate in imports is principally accounted for by wheat and flour into South Africa, for tho three months belug 1,563,421 bushels, against 495,433 bushels for tho corresponding period lust-year: and flour. <06.441 centals, against 235,124 centals.

Statistics relatintr to tho production of eold and other ores and minerals in Tasmania, which have been compiled by tlio Mines Department of that State, show that tile quantity of gold was during the flrst auarter of tho current year 8 835.90 fine oz. a total which wag 1277.90 fine oz. greater than that for the corresponding portion of 1912. Silver-lead ore represented 22,897.098 tons; tin ore, 737.48 tons: blister, cormcr. 351 tons: copper and oro, 423 tons; and coal, 11,183 tons. - The outout of osmi'ridium ia- given as 257.450z., as against 4090z. for tho January-March term last year. GEAR MEAT COMPANY. The directors of the . Gear Meat Company have declared the usual interim dividend of 6 por cent, for the half-year endedi May'3l. It is stated that tho result of the transactions for the period iust completed ia of a very satisfactory character. Customs duties collected at the port of Wellington 'yesterday amounted to £3635 Is. sd. WHEAT AND TALLOW MARKETS, The New Zealand Loa-n and Mercantile Agency Company, Ltd.. have received tho following' cablegram from their London house, under date June 4Tallow:' Wo Quote present spot values for tho following descriptionsQoorl mutton, £1 17s. per cwt.: pood beef, JEI 15a 6d. per cwt..: mixed, £1 14s. per cwt. . The market has an upward tendency. Wheat: We quote £1 18s. c.i:f. Australian carao. "Tho market is quiet but steady, orfine to unfavourable crop reports, and the American outlook Is uncertain. ' • . WHEAT. By Telegraph—Press .Association—Copyrlrht (Bee. June 5. 10.45 p.m.) London, Juno 5. Tho wheat market is auiet and imChanged. Official quotations for wheat:—South Australian,' New South Wales, and Victorian, for prompt delivery. 375. 6d.: on 38s. 6d, Liverpool futures. 90 coats; July. 89Jd. SILVER. London, June 4. Bar silver Is quoted at 27 4-16 d. per ounce standard. OILS. Linseed oil, £2Z 15s. to £21 per ton for spot pipes. Turpentine, 28s. 4Sd. t TALLOW. At the tallow sales, tho prices reaJised were:—Mutton, fine, 395.: medium, 335.; beef, line, 375. fid.; medium. 345. 9d. AUSTRALIAN PRODUCE QUOTATIONS. (Rec. June 5 10.10 p.m.) Sydney, June 5. Wheat. 3s. Bid, Flour, £8 15s. Oats gerian feeding, 2s. 6d. to 2s. Sd.t seeding. 3s. Id.: Sparrowbills, 2s. lid.; Giants. 2s. lid. to 3s. Barley: Cape. 3s. 3d. V> 35.~93. Maize. 3s. lOd. to 4s. Bran, .£4 10s. Pollard. £4 15s. Potatoes: Tasmanians, £6 10s. to £8. .Onions, £7 155.: fiicklers, £5. . Butter: Selected, 983.; secondary. 925. to 945, Cheese. 7id. Bacon, 7d. to 7id. Adelaide, June 5. Wheat. 3s. Bd. to 3s. 9d. Flour, £8 to £8 ss. Oats, Is. lOd. to 2ft Bran and uollaid, Is. HIDES. (Rec. June 6. 10.10 p.m.) '■ Melbourne, June 3. Hides are in fair supply. There is keen competition, and tho market is firm.