COMMERCIAL ITEMS.

Dominion, Volume 6, Issue 1828, 14 August 1913, Page 8

COMMERCIAL ITEMS.

INVESTMENT SHAItES. A sale of Sharland's preference at 21s. 6d. was the only transaction recorded in investment shares yesterday. The quotations were as under:— - Buyers. Sellers £ b. d. d Bank New Zealand 10 5 0 10 10 0 N.Z. Loan and Mercantile 0 10 4 — WelLineton Investment ... -- 0 11 9 Well. Trust and Loan ... 7 1 6 •Christehurch Gas • — • 7 3 0 Feilding /"Gas — 0 18 0 National Insurance 2 6 6 OhrUtchureh Meat ...i — 15 8 0 Gear Meat (£«!) 12 3 0 ' - Meat Kxport (525. 6d.) 3 0 0 — N.Z. Shipping — 16 0 0 Well. Woollen (ord.) 3 13 ,0 — Westport Coal 18 0 Wcistport-Mtoektou — 0 4 2 Leylaml-Bricn — 14 6 Golden Bay Cement — 10 0 Manning mid Co 4 4 0 — N.Z. Paper Mills 0 15 6 - Sharland's prcFercucc .... — 119 W.F.O.A. (£5) - 7 2 6 W.F.C.A. (£1) - 10 3 . CALLS ON BRITISH CAPITAL. Tlie demands upon investors in Great Bri'tain for new capital, according to the "Economist," amounted in the first -half of this year to £120,359,600. The total was exceeded in the fir-st halves of 1909 and 1910. The following comparison covers the past decade i Firet half. Year. £ ' 1903 77.414.CC0 1904 70.559.C00 1905 104,210,700 1506 85.324.6C0 1907 89.733.1C0 1908 109.673.5C0 1909 121.073.600 1910 1E8.077.tC0 1911 117.<85.800 1912 110.343.6C0 1913 ; 120,359,600 NATIONAL BANK. In hi 3 address to the s-hareholdors of the National Bank of New Zealand, Limited, at the annual meeting held in London on July 1, Mr. Robert Logan referred to the increase in the capital, the result of the new isoue having more than surpassed their expectations. Shareholders were given the option of paying up in fit'l, and getting the full dividend from April 1, instead of from the datw of the instalment?-:, and in the first fe\)* days of April they crot in fully CO per cent, of the total amount, or clo'rc upon £300',fCO, this being the best I possible proof of the confidence the shareI holders had in the board, particola Vy :is ! it was a-very bnd time for isiYuin;* further | capital. The reduction in current ac- ! counts was probably merely the result of active trade, while the in fixed deposit# had not in any particular way affected them, as in the last few years the character of their business bad been changing a good deal. The exchange business had increased enormously, and. in order to work thfc, they did not require such very large fixed deposit*. The gross profit had gone up. by £22,500, and the net profit b,v £15,CC0. It was obvious from the re-

suits shown that trade in New Zealand j had been extremely good. Instead of. as in the previous year, the imports into New I Zealand exceeding the exports, the exports I of produce had cxecodrd the imports by Ujfcwceu £1,3(1 vCOO and WKO.CCO, not a. very largo figure, but still a. move in the rieiit direction. New Zealand had the extraordinary external debt of some £44 iu*r head of population, and it was mov-t astonishing what a million of people could do; their industry, intelligence, and knowledge being remarkable. Of course. New Zealand had had the advantage of vi*ry liish prices for wool, dairy produce, and frozen meat, but there way no reason why these features should not continue, while there seemed to bs an unlimited field for whatever amount New Zealand was able to export. DISTILLERY COMPANY. The statement of accounts >of the Distiller?' Company, Limited. Edinburgh, for th? year ended May 15 la<?t, show that after payment of interest on debenture stock a profit of £219,258 was cleared. The sum available, including £19,600 brought forward, was £338.858. From that. total £40.000 transferred to the reserve?, raising that fund to £500.000, and to the fire insurance account £6123 was allocated, making an aggregate of £75,C0ft to the crcdit of that fund. Towards the cost of construction of Port Dundns distillery, £30.C00 was appropriated; interim dividends of 2i per cent, on prrfcrcnce and 4 per cent, on ordinary shares -absorbed £58,756, and final disbursements of 2J per cent, on the former and 6 per cent, on- the latte- required £84,755. leaving £19,225 to be carried forward. The capital of the company comprises £1,300,000 in ordinary and £287.000 in preference shares of £10 on eh. The total of tho balance-fihcct is £3,389,070. Customs duties collccted at the port of Wellington yesterday araouuted to £1551 Os. 7d. , , FROZEN MEAT MARKET. Messrs. Gilbert Anderson and Co. (Messrs. Mcilsop, Eliott and' Co., local agents), writing under date London. July 4. report as follows:— The mark&l has been liberaJly supplied. New Zealand lambs have arrived in largo Quantities, and the market is benig depressed with the heavy offerings. Home-grown.—Beef: Scotch sides, 63d., 7Jd.; English, 6d., 6jdi; Canadian, 53d., 6i'd. Mutton: Scotch, 8d„ 9d.; English, 6£d., 72d; Dutch, 6d., 7id.; English ewes, 5d., s?d. Lamb: Scotch, 85, 9£d.; English, 7£d., 9Jd.; Dutch, 7d„ 9d.; pork, 6Jd., 7id.; veal, 6d., 9d. Chilled Beef—Deliveries have again been on. a lighter scale. Proes, 3d.; hinds, 5 5-16 d. Frozen Beef.—New Zealand fores, Sid.; hinds, 4Jd.; Australian crops,- 3 3-l£d.; hinds, 4Jd.; South African fores, 3 l-16d,; hinds, 4id. Frozen Mutton.—A shortage in South American imports ifl responsible for the maintenance of prevent firm prices. Canterbury, 48-&6, 4Jd.; 56-64. 4 5-Bd.; 64-72. 4Jkd.; best New Zealand, 56-64, 4id.; ordinary, 4 3-16 d.; New Zealand ewes. 48-64, 3 13-!Gd.; Australian wethors, 30-50, 3 15-16 d.; ewes, 3Jd.; South American wethers, 56-72, 4Jd.; ewes, 32d.

Frozen Lamb—Priccs continue in buyers' favour. Stocks are plentiful, and there are weak holders anxiously pressing salw. Prime Canterbury 441b. lambs can be bought at sd. per pound and less; Canterbury, 28-36, 6(1.: 36-42. 5 3-Bd.; 42-50 . 5(1.; host, Xew Zealand, 28-42, s£d.; ordinary, 28-42, 5Jd. FINANCIAL CABLEGRAMS. By Teleffraph—l're=f) Association—Copyright London, August! 12. Yesterday's closing quotations were as follow Bank of Australasia, buyers £115, tellers £117. Rank of New South Walee. buyers £37. sellers £40. Bank ol Victoria, buyers £4. sellers £4 10s. Union Bank or Australia, buyers £52, sellors £54. National Bank of Australasia, buyers £5 55., sellers £5 15s. Notional Bonk of X»w Zealand, buyers £4 7s. 6d.. sellers £5 2s. 6d. Bank of Now Zealand, buyers £10, sellers £11. N.Z. Loan and Mercantile Agency 4 per cent, debcutures, £94 lCs. I City of Melbourne. 4 per cent, debentures, £98. Melbourne Harbour Trust, 4 per ccnt. debentures, £96. Melbourne Tramway Trim. 4i per ccnt debentures, £100. Mclbourno and Metropolitan Board ot Work?, 4 per cont. debanturc?, £95. Australian Jloroantilo debentures. -£9'l and Co., 4 per ccnt. debentures. £90. Dalget.y and Co.'s shores, buyers £6. Eell-e-re £6 10s. Molbou-ni Ci '• debentures, £99. 1 City or Sydney, £97. Goblcbrougii, *Mort and Oo.'s debentures. £93 10?. ' METAL MARKETS. (Koc August 13, 10.45 p.m.) London, August 13. Coppor, £69 por ton. Tin (forward), £20 ss'. por ton. WHEAT. (Itec August 13, 10.45 p.m.) London, August 13. Ov,-in,T to the generally favourable weather reports, the wheat market- is weak— fully 3d. lower.