COMMERCIAL ITEMS.

Dominion, Volume 6, Issue 1780, 19 June 1913, Page 8

COMMERCIAL ITEMS.

INVESTMENT SHAKES. Sales of investment shares recorded yesterday were:—National Mortgage, at £3 18s. 6d.j Gear Meat (£4), at £12 6e.; and Wcstport Coal,' at 27b, The quotations

LOCAL CONDITIONS. A more hopeful, if not optimistic, feeling seems to be coming prevalent (is to tho outlook. Money in said to bo more plentiful, and this appears true enough, its the Government is lending more, and somo of the lending departments of the State aro also in a* position to invest money on mortgage. Furthermore, the A.M.I'. Society is also lending. Thus, although there is no reduction in the rate of interest, money is more plentiful because more loans arc being placed. Trade has not felt the benefit of this to any great extent, but the frco lending of money will help to tide over the dullest months of tlio year. July is about tiho worst month. In August the cows will have come into profit, and the dairying industry will be making a start, for the season. The winter is. after all, not so bad as seemed likely it fow weeks ago, when money was exceptionally dear and very difficult to obtain. ROYAL INSURANCE. Tho account of tho Royal lusuranco Company, Ltd., for the year 1912, states .that tho net ilro premiums amount to £4,107,808, tho losses to £2,081,953, and tho surplus on tho Are account to £524,192, which has been carried to profit and loss, from which account the sum of £300,000 has been transferred to tho fire fund, increasing the same to £3,500,000. In the life department tho now business is £1,751,997, the total premiums, after deducting reassurances, £788,498, and the life' annuity funds at the end of the year £10,950,488. In tho accident and general insurance departments tho net premiums amount to £820,530, the claims paid and outstanding to £358,696, and the funds to £562,639. In tho marine depart,mclit tlio net premiums for tho year 1912 amount to £653,514, tho claims paid to £212,840, and a fund of £972,023 is car-, ried forward. Tho 1911 account lias been closed and a balance of £103,396 carried to profit and loss. In addition to the amounts transferred from tho "fire" and "marine" accounts, the profit and los 3 account is credited with £287,195, interest (less in-come-tax) not carried to other accounts. After charging income-tax for tho year, and providing for interest on debenture stock and for tho final dividend for 1912, a balance of £1,054,692 is carried forward. A final dividend- for the year 1912 of 12s. 6d. per share, less .income-tax, is recommended, making, with the 12s. 6d. paid in November last, 255. per share, less in-come-tax, for tlio year. In addition to tho funds and balance above mentioned, tho reserve fund amounts to £1,600,000, and the total funds et the end of tho year, after making full provision for payment of debenture interest and dividend, amount to £19,031,200, being ail increase of £663,949 on the preceding year. PAPAROA COAL CO. The annual report of the Paparoa Coal Company," to be presented at the general meeting of shareholders, to bo held on Julio 25, is as follows:— "In the last annual report it was indicated that proposals for raising additional capital had been assented to ty debenture-holders, and that an active canvas was proceeding for securing tho necessary funds. The canvas was succcesful; £50,000 in new first debentures was offered for subscription, allotment being conditional on a minimum of £35,000 of tlu-to debentures being taken up. Tho amount actually subscribed and allotted was £35,830. The remainder of the debentures (£14.200) aro at present unissued. Immediately the additional capital was secured, steps wero taken to reopen tho colliery, and carry out tho programme 6Ct forth in tho prospectus of May 31, 1912. Operations were concentrated on the Ko. 2 seam in Mio eastern subdivision of tho lease, and tho work of opening out this £cam has been continued up to tho present time, pno vessel lias been secured and converted into a hulk, and is now in use in Wellington. As previously indicated, liulks arc a necessity for the class of business which tho company hopes to sccure. During the year, in accordance with tho undertaking given, the whole of the board of directors resigned. in order to give shareholders tho opportunity of electing new directors should they desire, to do so. Fifteen nominations wero received, but of these four withdrew their names, and the remaining eleven went to the poll. Tho successful candidates wero Messrs. J. R. Blair, A. D. Crawford, 11. Humphries, C. P. Knight, J. I'. Maxwell, H. F. Nees, and T. S, Weston, these gentlemen now constitute int the board of directors. The trading account for tho seven months ended March 31 last showed a debit of £3164. NEW ZEALAND RIVER PLATE CO. (By Telegraph.—Press Association.) Auckland, Juno 18. Tho directors of the New Zealand River Plato Company announce an interim dividend of 10 per cent, for ,the six months ended April 30, payablo to shares on tho New Zealand register on July ,7. FROZEN MEAT. Messrs. Gilbert, Anderson and Co. (Messrs. Mollsop, Eliott, and Co., agents), writing umler date London, May 9, report as follows:— The temporary shortage of lambs, combined with the usual activo demand immediately before Whitsun, lias cau'cd prices for best Now Zcalands to reach TAd. With nearly ono million lambs to arrive this month, however, this price cannot bo maintained. On the other hand, mutton is being neglected, and there Ecems no prospect of a recovery while tho vory low prices for ' chilled beef last. Home-grown: Beef,' 6Jd. to 7d.; English, 6 5-Ed. to GJd.; Canadian (London killed). 6}d. to 65d. Mutton: Scotch, 7d. to Ed.; English, 6Jd. to 7Jd.; Dutch, 63d. to 71d. Tegs: Scotch, Bd. to 9Jd.; English, Virt. to EJd. Lambs: English, B*d. to lid. Veal, 'ild. to Bid. Chilled beef: Heavy supples are to hand, and. with sales being forced, very, low prices arc anticipated. Fores, 2Jd.; lnxids. «d. Frozen beef: Very small quantities being sold. New Zealand fores, 3d.: hinds, 3Sd.: Australian, 2jd. and oid.i South American, "'Frozen button: Canterbury, 48-56, 4jd.; 56-64 4 3-Bd.; 64-72, 4 l-16d.; best Now Zealand. 56-64, 4 3-16 d.; ordinary. 4d.; ewes. 3 U-16d.; Australian, wethers, 30-50, 3 15-16ct.: ewes. 3id.: South American wethers. 16-72, 3 15-!6d.; ewes, 3Sd. Frozen lamb: Tho demand runs on email weights. Canterbury, u-36, 7d. to 7£d.; 25-42 63d.; 42-50. 6 5-16 d.: best North Island, •2C-42 C?d.; ordinary, 63d.; Australian best, 29-42, 6/, d.; fair, 28-42, 6d.; inferior. 6d.; South American, 28-36, 6d.; 36-42, 5Jd. FINANCIAL CABLEGRAMS. By Telegraph—Press Association-Copyright London, Juno 17. Yesterday's closing quotations wero no follow:— , . , .. Bank of Australasia, buyers £111, sellers £115 Ba'nk of New South Wales, buyers £38. Kellers £40. Bank of Victoria, buyers £4, sellers £4 "linion Bank of Australia, buyers £56, sellers £57. . . , National Bank of Australasia, buyers £5, sellers £5 lis. , , , National Bank of Now Zealand, buycri £4 12s. 6d., sellers £5 fo. 6d. Haul; of Now Zealand, sellers £11 12s. N.Z. Loan and Mereantilo Agency 4 per cent, debentures, £94 10s. City of Melbourne, 4 per cent, debentures, £98. ' , Melbourne Harbour Trust, 4 per cent. de> bcnturcs, £96. Melbourne Tramway Trust, 45 per cent, debentures, £100. Melbourne anil Metropolitan Board ol Works, 4 per cent, debentures. £96. Australian Mercantile debentures, £91. JJalgctv ond Oo„ 4 per cent, debentures. J291. ' „ Dalgety a.ud Co.'s shores, buyers £6, tioJI cri £6 10s. , ... ilolbQlLTM CM Co/l dohMllU'tJi £SJ,

City of Sydney, £99. ... , Goldsbrough, "Mort and Co. a debentures. £96 10s. ' SILVER. London, Juno 17. Bar silver is quoted <vt 27Jd. per ounce standard. WHEAT. Official wheat quotations:—South Australian, New South Wales, and Victorian, 375. 6d.; on pasaige, 385.; Liverpool'futures, 90$ c'entE; July, 90. ' j

were as under:— Buyers, Sellers. £ e. d. £ e. d. National Bank (old) 6 2 0 5 3 0 N.Z. and Kiver Plate ... 1 19 6 — Veil. Investment 0 11 3 — Well. Trust and Loan ... 7 4 3 — Well. Deposit 0 5 3 — Napier Gas (£10) 16 0 0 — Napier Ga« (£5) 8 0 0 — Well. Gas (£10) 16 0 0 - Well. Gas (pref.) 0 19 6 - Christcliurcli Meat 15 2 0 — Meat Export (£4) — 5 0 0 Union Steam 2 2 0 — 1 Moegiel Woollen — 312 0 Wcstport Coal 17 0 — Golden Bay Cement — 10 0 Sharla.nd'i3 preference .... — 12 6 I .Ward ajid Co 5 2 0 —