COMMERCIAL ITEMS.

Dominion, Volume 7, Issue 1965, 23 January 1914, Page 10

COMMERCIAL ITEMS.

' ' GOLD PRODUCTION. The gold .production, of Australia and Xcw. Zealand' lot 1913 ehows a. grand, total of approximately ' 2,548.175 fine ounces, 03 (lgaiiist fine ouiSces for l'Jl2, dr. a decrease of 84.131-.fine oiiiiwo. A.comparison of the figures of the d6vcr.il States for trie post three ye'irs is as undr:— "•■•' ' ' " Oz.;fine'. Oz., fine. Oz., fine.

The total value of the production in Auetralii and Nciv Zealand for 1913 is approximately £10,825,0Cp, aga.inst about £i1,137,C00 for 191.2, and about £12.375,C00 for 1911. Going back ten years, the value In 19p was nbout £18,269,500, the total production in that yeir beirjg approximately 4,298,712 fine ounces. The value of the. production in Australia, alone, for 1913 is approximately £9,565,000, againet about £9,86i,0C0 in 1912. The production in Australia, and New Zealand for the ■ past .eleven years is eummarised as follows:—

The greater part of tho gold production reaches the three branches of the Royal Mint at Melbourne, Sydney, and Perth. INSURANCE IN GREAT BRITAIX. The annual insurance review just published by tho "Statist" sounds a very optimistic note in regard to the progress ami position of eeeuarnce in great Britain. It states that the savings of the British peonlo in 1913 will not- bo far short or £400,000X00, arid, roughly speaking, the income of the nation has doubled in the last 30 yearn, while tho premium income of life offices, has increased by no less tlian 221 per cent, in the Fame period. In-measur-ing tho power of the nation to Bave- by the sums devoted to insurance premiums, tho orention of ■ old ago insurance during the past .generation must be taken' .into account'. Malting 'allowance for this fact tho. "Statist , . , pstiraatoa that, under normal conditions an expansion of 100 per «m. in the income, of the country in about .TO years reflects an.increase of ljfflrly IEO per cent., in ability to provide insurance premium!. The contribution!? which life assurance .premiums now make (o the cura available ei'ch yenr for i-flpitnl purpo«e« is. a. very .large one. The- nnniml .iddition to the funds of British life nffko« i« stated to b» about £15.1W.0C0. but. Lh» rcil oontrlbutlou to the capital fund il th» toltl e[ rrtmlains nnn iateicit r«AlT*l, Iwa tlie sumi eijended for au<&&ctme&t,

Excluding interest on- investment?,''>. ond cilculating' only thc'-prcmiiiiri -income, fire.ltBritain i,; liow pn.v'ir.K over Jft?. , per-rnpita por annum for life assuvnncc , nr, .aijainet Bs. per capita-30 yutre ago.-. There is no doubt that high- wagon and. good trndinc profits of the' post..eighteen''months- haveinduced n. good deal of' new■■α-ssiiraiwe, but it is bctomil'B monsaml mofc ths.proctic«tn regnrd fwh ns-n, lifirt of the'.'ncreffary expendituro in arranging the -JninilJF; budget. ' '■ '.-... ;,./-.. ;.,'•}■ CJ-ivfy'y NETr.,JTJTE PBODUOERSi^'?*?^; India Iβ now'thrc-atened with rivalryj.in. jut« proauotion, .which will-ue' welcomo. neivs, in viewer the bigh prices now prwveiling. It hae be-en pcurcu.to d«Moiis!-f.e-tion, writes■ "Capital, , tftat : jut« can be grown on a large scai« in riouth Carolina and elsewhere, uut when the price of jute. w<l3 £15 per ton'lt was an unprolltablecon.. mercial crop. . At iSO- per ton the posi-' lion is completely changed,.aad the U.ri.A. Department of Agriculvnre may \ycll connioer the advifabiJity'of eacouragins the' crop in view of the excellent uoiv. promise. A greater.danger to tae Hengal inonopoij than the American is that t-areat«aett by. the Japanese. ..During the past three or .four.vears Japanese-agenta havo been spying out the land, learning all there ie to be Harnt aixnit the cultivation of jute. We now hear that th-c Japanese Government intend to-experiment.in.Fatmora on" a large scale. The climate in'.tJie. Bouttacrn part of the island.is;suitable', and the soil.is not unfriendly, . Thon. there, is a plentiful supply.ot labour.. .VCc know the ■quality of.Japanese enterprise, and if JSeiK gal is. content ailow things :to .remain, as. they are, it is ciutte. on the'cards that ere .long Japan, will. injure the , - Indian) jute trade .' more . msverely than ...she; has already, injured the Indian cotton trade.' Should, the Jananci-e succeed jn. Formosa the Dutch are t-ure to follow suit.in Java, and probably get .the. money lor the enterprise in- London. A third danger is--' threatened by the clever German chemists; who, are busy, perfecting textilo.se and other synthetic substitutes. This is ; a more.im. mediate danger, for. the Continental mills are already weaving fabrics from'artificial yarn, and getting good sales in quartern where jute fabrics long .reigned supreme. AH there .dangers could -be ' defied if the cultivation of. jute were extendd in. India to keep pace with tho de-ma-ad, ■■'-. S'--''". AJIERICAK TOBACCO CO.' The British American Tobacco Company; which i≤ virtually a. branch of the Imperial Tobacco Company for the purpose* of working outside the United KiDguom. eince its lormation, eleven' years ago, has ■ paid varying dividends, the lowest being 191 per cent, for 1908-9, and the highest 374 per cent, for 1910-11. For th-e year to September : 30,. 1912, the distribution was 2t>i per cent., but for the year to September i 0 last 27} per cent, is to be paid, and mor« might have been distributed, but tbo directors prefer to contjauo a- conservative policy and materially increase the Amount carried forward. This is indicated in tho following comparison of rct-ults for tho last three years:—

19M-11. 1911-12. 1912-13. Net profit £!.655,8e0 £!.981,!59 .£2,151,0-36 Dividend 3TJ! P-c 26i px. .. 274 P-'C.. Carried for- .- ■ , '-' ,; ■'■■'."'%?•

ward £1.168,106 £1,653,690 .£1.973.902 It will be seen that, the dmotint now carried forward is nearly cquol to th« nei profit for the preceding yeqr, and iU ex: co3s over last year's.sarpiue is fully sunr clent. to pay 5 per cent, more Jor the year on the ordinary shares. At the present' price of 5 the .£1 share* return a purchaser o little over 5j per cent., allowing for accrued dividend. During 1912 they toached 63, and this year the best, price wc£ 519-32, but at one time they were down to 4 9-32. tlilte J. arid P. CoatS's, tlic-icveimo islnTsely derived from' investments in associated: companies, the iota! of which amounts ■virtually to £5,E.08,eC<3.- It is exisccfcd that a new issue of capital will be made early next year. ■ . . .■. , .; ..

COMPANIES BEGISTESEB. '...-T'- v; The following appear in the list of companics registen-d, published in this week's ■■Arcrcantilc. Gar-etrc".:—

Griffiths, Kpgera , Patent Gas JWter Co.. Ltd. Kegistcr<Kl Jannnry 21. capital, £8000, divided into 6RO shares of £1 ea;h. : Subecrihers: Griffith;, .sea f,p.-u.; J. M'lrttosh;'--l(S f:p.«.; A. Roger;,', IQO 1.p.u.: C. J. Ijockwood, Jft:- E. V. Ht<;Tf<irt, 55;•■ E.-.-j.'-Colley, 60. Ma-tajfunn-W'. I. ComKs, ICO. Objects: To adopt and crtrry into c'ffe'ct an agreeme'n-t dotted Jonuftry 15, riiade between A. Rogers, H. Griffiths, rind .Tames M'lntoc-h of one part, nnd Robert Kennedy ns trustep for the cotriratis'. carry on the hufllro-ss of mAriafaeturoni of nnd. dealers in, c-te'., of gas moters and similar appliances. The Xew Zealand Cn-oi!. Holier Producers' A;en.. litd. Hceistered Dfcember 11. 1913. Cn.pilal, £JCOO. dividsd irtto 1500 shared of £2 each. Subscribers: JI. VT. Oillincs, 0); H. B. Penny. '0; G. H. But-keridge, 2; H. H. Warcnp. J; H. B. Nienotai*. -40: A, R. Bates, 40; C. E. Grainger. 10: VT. J. Jfetville 10. Ob.icot..*: To 'buv apiaries:.-nnil carry on hec.fA.rmtug in all Us branches, arid to act iis agent? or brokers. -~-3i'-:; . ...':.

(JTJEEXST.ANP MEAT RXPOHT-AXD' AGEXCY .COMPAKT. ' ■

The report of the Queensland Meat Export aud Agcney Company fdr itio yea» ended November 30 shows a. credit 'balance on tho. year's tra-H-factions of £52,01!." to which,.is to bo ad-d-ed the undivided profit I brought forward from November SO, 1914. £9536, maMriß a total available of £61,SW: from . which the duectare pfopttee to pay. a dividend of 8 per cent.,, and' n, bouns-of 4 per cent,' which, with dividend duty, will absorb £27,508, tranefop to reserve, fund £25,000 (mokine- rsserve fund £1.35.e08), leaving to be carried forward £9029. The now; slaughterhouse ■ for tho ■ .-treatment or sheep was cqtttpjetod by tho time- the iworks at Ross River, commenced' opcraiions. last seaeon, oad both these works and those at Eapjle fem .wets fiilly- cmploye'd 'while,, euitable stock -.. woe ■ procurable. ■Krozen-inept-prices In the United Kinit-dom shewed -an ■ improvement, and remained fairly firm; but the higher prices iwtlil for etock, α-nd i\ii intirclEed cost of production, Have been reflected in the net results. The . contributions by. the stations to the profits have not been as satisfactory «e wns anticipated. As foreshadowed in the last report, stalls have now licetl opened at vari-ous-centres ill England.and Scotland, ailw, ftithough raiKsli preliraindr'y work an 4 dr?Ani6atidn have b«m entailed durin.tr the peat year, the rosult lifla been ene<Jura;jHng.

STRIKE- CIiATJSE IN BILLS OP LADING. ' ' Unilerwrlters at Lloyds have received with mixed feelings the' proposition, to which •wo made recent rcfereiU-c, Klatini; to tho introduction of "strike expenses clnui»e-s". to all bills of ladiug, the suggestion emattating frbaj the Intcrnaiidiuril' riinp Federation..' THc fiWin effect oT ttie" propoL'ed. regulations- woulfl he that, iit future-' the enrgo owner, coßjointly with the shipowner, would have to feir a proportion of any arisini; from "strikes. rio'Cs, or civil commotions," -these h.iringr been lwr'iio' hittifrto entirelv Ky tfls '.Under thoje caiisfts chars«« including losses' of napes, n&ultini: from labour troubliv-. will ho.ve to be iiaid by n. st'entral averflgo "ltd conirlbutloii from both jhip a.nd' cargtj. In.vi»w .of ■ the prevalence of ptfifees in so man? ?hippine porU. the'R.dor.<iiidfi has urged that the time has arrived wheii the' old Soim of hill of lading jh-ouW be altered ia the manner - described: but,' although. in the marine insurance market a certain amount of eympiithy towards shipowners is felt, , the gonfrn'l opinion is thdtthe dmendiients suggested are far too. (JhlsUo, and aiysd considerable modification before they can become universally popular, not to say acceptable, at Lloyds. Underwriters, 'however, have not, as yet, arrived a* any definite decision on the qu&stidn. Tip to the present, it is etated, they have not been Efriously affected by material loss occasioned by strike*, which risk; have chiefly been nlac<"d on properiv pti shore. Labour troubles in \dtal liave brought fomo bufine=s to Lloyds, but the policies ha-o rvpldsd much Iwer raios ih.iE have other.'' which were taken in Meilwj, .■■•'""■■■■■*■■ WHEAT. <£.^'-'A^i: By Telegraph— Vtose Aetocialion— CoTJ*ts;ht' (Eec. January 22. 9.15 "p.m.iHsSp'f London, January ■ 22.''^The market is steady; JJOfl tons, nari.'of a cargo. Tasmanian in transport.-' ia ouotcd at 355. 9d. ' . ,■,-:. ..-.-. j ;',-i.~ v f. \- XATIOKAL MORTGAGE OF N^.'.'-LTDi'-l^ (Hec. January 22; 9,15 p.m.) ,-W 4;'.£sS Lontfon, January ~i£.'i Tho report of the National Mortcaeo Company of N. 2.. Ltd., shows a orofit, of. £53.722. A dividend of 12J per c«nt. was'; declared. The reserve toioia £15,CC0,- while £13,722 is carried forward. .-.;■ ■.-.: -- -Attfj^.., . AtJSTRALIAM (Rc«. January 22, 9.4!) p.m.)Sp.-i ; s.3!

Sydney, 3anue.Ty"'!S"^ Wheat, 3s, 4id., 3s, 6d. Flour;'.v£B isa* On!i'. Algerian feeding, .2s. 4d. to 2s. sd.j" milling. 4s. Bd.; Sparrowbills, Jβ.. Id. to & 2d.; Giants, &. Stl. to to. Jrt.; New Zealand, A. Gartoui, 3s. 3d. liaric-y, Capo malting, 2s. 6d. Maize, 4s. 3d., 4s. 6d. Bran, £4 10s.. Pollard, £4 iSs. Potatoes, Toemanian, ,C 6. Onions. Victorian, £9 10s. -, : Butter,' eelc<;t«d, 103s. i. sccomJary, lCCte. .'■. Cheese, 6d, Bacon, Sid. to 9d. ..■■.■ -V.v-.'.-■-;-.-?■. -J AdolaJdo, uTflmiarr' 22 : -i Wheat,' 3s. 6d. to ss. 6Jd. Flour,. £7.15e.i to £8, Bran and pollnfi], -f;:': , ./; 1 : ' JTIDKB. ■'■-.;/ <fi ; ?jft|;iSJ . ■ Mclbouenn, ■■JnntinT^itS Hi(l<x? nrf in a re rase supjilr; comnetitiori : good; tnorkcl. tlrmer. .\-t :^m!&l'?v*^t:s: x " ' ■; TALLOW. Untfort, JanuArr'Ji'VA At the tnHi-* :«!■«. M 3 casks , O re ofrprea «n4.5W iftlf- friMi ■ VMllMili-Jtutten. fine ih., mMium Hj. W,i...b«|, .Hn»-Jii.; , nieliam lit, (A, ..■-,- ,»"V. y... v ■■'"-¥,*>

V : ..MS"SKKtf;■'dir( fX^P^TURPEN'TIXE;.- ''-■.-■ :aLih«e^o!fi--.'£a-4te;^to»:v£ , Z3."-l&^6d.-:"..t ; ur.-' JsTAt'SthelVwoplv'mleMtlic fmarkct'Tae-firrii,, 'nriil■.t.here::-was>strqiisr;i,conipelitiqn (for '.nil , P^v|^.HjICJ9Jf(UX;-I/O ASVia |y ; London,-■'>n!iiia,rr y 2t.^ , -" t,hat«t.he 'total 1 ' ap-pli'"afif?(!S:'lor;tht!;-Tict6rian-]o<!a,amount>ed

-.1911.- 1913. IJlJ ■Victoria.-..: :.....■ M.541 430,131 4-34.932 Nc-w soiith. Tales 181.121 165,295 149.657 Qiitehsland. ...... 3S6.1M 347,946 263,343 VTesV Australia... 1,3/0,858 1.283.65B " 1.S14.C44 South ' Australia... 11,680 ' 7,M 7.292 Tasmariia. :.... 3W01 37,973 35,500 Cominoti*«iHti 2,494,475 2,321,343 2,264,765 New' Zealand 427,385 310,963 343,»7 • .Total 2,911,86a 2,533,306 2,548,175

Xevr . Australia. Zealand. Total. Oil. fine. Oc. line. Oz., flue. 1903 3,837,064 461.648 - 4,298,712 1904 3,741,644 457,837 4.209,541 1905 ....;: 3.653.356 492,955 4,156,311 1906 3.439,560 531617 3.974,177 1907 '..... 0.184,193 477.312 3,661,505 1908... 3.076,242 471.968 3,547,210 1909 2.962,543 472,465 3.415,008 1910 2,719.945 4«,434 3,166.379 1911 2.484.475 42?,585 2,911,860 1912 2.321,343 ■ 310,963 2,632 306 1913 2,204,763 • 343,407 2.54B 175