COMMERCIAL ITEMS.

Dominion, Volume 7, Issue 1922, 3 December 1913, Page 10

COMMERCIAL ITEMS.

INVESTMENT SHARES.. No business was done in investment •shares yesterday. The ouotations were as .under;— . . Buyers. Sellers. £ s. d. £ s. d. Hank ]\ew-Zealand-... 10 10 o -_ v. National Bank — 5 8 0 Eouitablo Building 8 17 6 — Well. Investment — 011 9 Well. Trust mid' Loan ... 7 5 6 7 9 0 C'hristchurch Gas 6 15 0 — National Insurance 2 10 3 — "SS.Yj. Insurance '. 5 13 0 . 5 14 0 Gear Meat (£4) ................ 13 5 0 — tloar Meat (£1) 3 9 0 — .Union Steam 14 5 — Kaiapoi Woollen (prcf.) — 5 3 6 .Westport Coal — ■ 110 {[olden Bay Cement — 0 18 9 *-6. Con. Dental 10 9 — PASSENGER STEAMERS. The great increase in the cost of establishing c, line of passenger steamers was referred to-, recently by the chairman of the Now Zealand Shipping Company at tho annual mooting. Not so very many years ago, he said, steamers in every wav suitable for the company's trade could bo built for about £75,tt0. To-dav a,-steamer •which would eatisfy the requirements of shippers costs more than £200,0 M. Shareholders will understand that hsthc-oldcr f'tcauiers(have -to bo replaced and the fleet .increased by the addition 'of these expensive vessels, the capital outlay rcouircd is very largo compared with that of somo years sico. It vrns also pointed oui, li> shareholders that, the .capita lisaUon,.or .-.,&. rets to the extent oi £408,024 just ell'ectrd docs not necessarily increase the carnine capacity of Ihc company. Tile operation ■■■imply enlarge:! the area over which''l lie distributable profits will have to be tjprc-id and <it tho same time fixes the money involved permanently in tho business. '~,; TARAJTAKI OIL ra,S-J,m ' At the ordinary general-meeting of shareholders held m London :on October 23. tho chairman, tho Earl of Eanfurly, in movin" th ?, !u l?m, tlon ,. of tne reports and accounts, said:- 1 lie directors considered that it was absolutely necessary to issue more shares ond they were making nrrunKemcnts for so doini; at the present time. Tho necessity for further, capital arose more or less tbroush all these new eomnanies that were beins formed, as nine lines would have to be nut down to connect the wells with the refinery. New Plymouth was developing larcel.v. and tho company must bo in <i pet!.''.iim to meet all Teuulrumonts. it should also be ■understood that in openintr up a bit; business in the sale of oil and wax and other products it was necessary to have funds in band for trndinc purposes. In conclusion, ho remarked that, there was no company that ho believed could show greater proercss in one year than theirs. lie and another member ot the board had known this property for many years, and tlicy were aware that thu general feeling bod always bcon one . of ptroni- belief in it? ultimate success?."-The-po-oplc "in Xow Zealand, who probably knew far more about it than those .on this side, had had sufficient faith in the nn-Sprtakins to take about 173.0 CC shares in the company, whilst the British public, not knowing the ins and outs of the matter, only subscribed for Juet over 11.CC0.,

One man m particular seemed to have treat faith in the future of the company, ilo. referred io the field manager, who. ouito recently, had been substantially addiiiK to Ins prc;ent. share interest by furtni'r purchases of shares in the open marKef in Now Zealand the most recent sales of shares were at 18s. per store, but More was, at the present time, practically 110 dealins, as everyone there wa» holding on ini the expectation of hie developments, ■the director* had hoped to have been, enabled to announce n. strike of oi! today, as it was daily cjpocted, but. un■Jortunatcly, ho could only announce striije., of good eas. At. tho same thro co' would, not probably be there unless oil wa* in tho vicinity, and they were at the present moment harnessing those G3«K! to work tho refinery without having to pay lor,, coal or. .uso their crude oil."

N.Z. rAEHEItS' CO-OP. DISTRIBUTING CO. f'-'l'J? 1 "nnnal report of tho directors ?•• :■, .?"' z » a '«nd Farmer.." Co-operat'ivo Distributing Company states:-Thc total ■net profit for the year, after makinff provision for bad debts and writing down premises, plant, and office furniture, and motor accounts.'is £515 136. £d. to wlit-h rIS? tO . , ai s o<l the amonnt brought forward from last year (.£59 fc. 2d.), making a total of £574 17s. lOd. available for distribution. The not prom, for the year equals 11 per cent, on tho capital of the company. Tho total sales for the veav show an increa<=o of over £SfGO. The directors recommend that tho balance to tho credit of profit and lc-33 account be dis?.i ? S J: S '"Hows:-Fir«t dividend oil capital at .he rate of five per cent. Second, Bonus coupons for tho financial year ending September, 30. 1913, bo redeemed on the following basi~:-(a) Hebato of commissions, ehnreholdcrs. 12J per cent.; (b) Jtcbate of--commispions. non-shareholders, <J : per cent). Third: Bonus on purchases of shareholders. J per cent.. Fourth: Bonus to.stall tho.allocation of which to be left to-the directors: Fifth: Payment of honorarium' to directors. Sixth: Transfer tho sum of £a 8 18s. Id. to the roscrvo account, bringing the total of eamo up to J22CO. hovpnth: Balonca to be carried forward. It is proposed.to issue tho 2« forfeited i-Uares at a,premium of five shillings each to existing shareholders, preference to be ?, IV .°S to thocei holding not more than fivo .shares. ,j Applications to bo sent in before ■.lauiioiySt.. 1914r The directors propose to 'jssdb new tiiialTS, with a rniniuii;m of five in number, and at « premium of lCs. per fihare. ....

'llurinjj Ihc'eomiinr veur an extraordinary ceneral..mcclinj- will be convened to. coiisid<T' the advisableiioTe of .•ircendincf tlio Hi'tlel.e.v.qf, association to permit, tlie company to .pay. a dividend oh capital up to 1.0..per .cent.'. of the present nrovi-£i6_fi'i-Qslriqtin''4,tho maximum dividend to 5 uei* cent;' -The directors nre prepared to reeejye applications for loans ot current jnlorest rates l-b cilaroholdors up -to tho full face value of paid-up shares held.by them in the company, thus providing tlio rnc-aufl of obtaining temporary accominoclotion without delay or unnecessary formalities. -■'.'■ ': ;.„TKADE IN AIiLES STREET. . Canada Capo, which arrived ill port a,-few days ano. brought a, liuht. shipment,, i; , of Californian apple; and orances, and the fruit lauded In excellent condition. Tho Tahiti is due here from San I'ranci.suo, .ta-morrov,- wi'th .'iurther consignments of Californian apples and oraneos ■fdr'.'tM" Christmas and New Year trade.. It- .is'lsomo time now sinco "anv fruit was received from Sydney. The llessiiia lemons, which arrived there rtur•iiiE the striko. /have been Boid in the IfowSouth Wales capital, cud it will bo somo time before any supplies can reach Acw Zealand.-, Tomatoes are coram" over from ffelson in larco quantities.- Cherries, both cooking and iicsicrt varieties, arc cominc now from" Nelson, and red currants from the llawke's Bay district. New Zealand .Stunner apples arc arriving almost daily from Nelson, ex cool stores, and the samples oiieli, up;inostly in Rood condition. Vegetables.—Cabbaces are almost unsaleable:'cauliflowers have declined in value'.....lthubai'b is in uood demand, and the market-is, now dependent upon the Hutt for supplier. Clreeu, puH5 arc, cornins from 'Nelson, and from place? on tho railway line, and the prices ruling are low. - New potatoes arc. comine in daily, and the market is rulinz at 53. Cd. to fs. per cwt..: . ... ■. . Old-potatoes are exceedingly dull of sale. Good. r>otma "aula are offcilus at £o per ton,'...wh'Usi sprouted .-.nd badly-eondilioned are sellinK-at exceptionally low rates.. "Oniorts.—Californian, repacked, o.ro clear-' intr at Ms. 6d. per ease. Hour.—Tho Wellington ex store price i,? £U per ton for loading brands Fowls' wheat is in moderate supply. Primo whole, 4s; 6d. to 4s. Ed. per bushel; sood «. od.

3liibe-U.siow.cf n-ale at Is. sd. to 6s. a bushel. - ■•

Bran is in lieavy supply, and is tniotcd at JE4 10s.. io £4 ISA per ton. , Pollard.—Stocks arc exceedingly lisrht. and thb market is ruling at £6 10s. to .67 per ton. Oatmeal—The market is bare, but further ehipments arc expected daily; the current value is £13 10s. per ton; I 'Boiled oats-Thistle brand, in 411b. bars, lte. per dozen; creamota. 9s. 6d. ." Chall".—Only lifrht stocks arc hold, and the price is £5 10s. to £6 per ton, sacks In. Fresh in Eood supply, and are scUinc at.ls. per dozen. Butter.—Prime milled, in bulls, 9d. to lCd. I 'pel' lb. | Prussian Blue peas arc slow of =alc at 5.5 to ,jsa. 6d. pEf bushel, .according to isainple. Partridge peas are dull of sale at 4e. 6d. to 4s, 9d. a,- bushel. Poultry'is in eood'demand. Hens, Js. to 4s. 6d. a pair; cockerels, 3s. £d. to f3.; roosters. 3s. ::6d, to 45.: Indian Kunner ducks, 4s. to 55.; Pekin and Aylesbury duHra ss. 6d. to 75.: Roslines. 6s. to Bs.; turkey cobblers. Is. per lb. Uvo wciiht; hcus, 9d. to lCd. CUSTOMS REVENUE. Customs duties collected at the port of Wellington yesterday amounted to £3781 4s. 2d. h WOOL SALES. By Tel«grtu>h—Pr«ss Association-Copyrteht London, December I.' At the' wool sales prices were unchanged. There, was good genera! competition. SYDNEY SALES. Sydney, December 2. The wool sales have reopened. Crossbred* arc slightly easier; otherwise prices are unchanged. SITiVKK. London, December 1. ' Bar silver is <;uotod at 25 15-16 d. per ounce standard. The. market, is weak, owing to heavy sales in conseoucncc of the suspension of the specie bank', India. TIIVER PLATE MEAT. Kirer. Plate ..shipments of mutton total 108.750 carcasses; lamb, -<!0,5C0 carcasses; frozen beef, 56,500 quarters; chilled, 257,250 I quarters. ■