COMMERCIAL ITEMS.

Dominion, Volume 7, Issue 1979, 9 February 1914, Page 10

COMMERCIAL ITEMS.

. INVESTMENT SHARES, ■ Tho sales-of investment shares 011 Saturi day consisted of National .Bank at £5 7s. 6d.. anil Union Steam, preference, 20s, 3d. The (iuotations were ae follow:—. Buyer* Seli«r» £ s!' d. £ s. d. Bonis New Zealand 12 2 6 — Bank N.Z. (rights) ' — -536 Jjquitable Building " —> 8 17 6 N.Z. and Kiver J.'iatc ... 2 1 0 — Well; Trust and Loan ... V 3 6 • Christ church Gas ...6 12 0 — ■ Palmerston N. Gas .......... 9 2.6 — Wellington Gaa (£10) — 1615 0 Well. Gas (preference) ... 10 0 — \S.B. Insurance ....: 4 2 0 — Uear Afeai. (£4) 13 J2 G '• — Gear Meat (£1) 3 10 0 — Union Steam (ord.) — 15 0 Union Steam (pref.) 10 0 10 3 Well. Woollen (pref.) 3 0 0 3 2 6 Taupiri Coal • — 119 Westport-Stockton' — . u 4 u Leyland-O'Brifin 13 9 — Taringamutu Totara ... 2 5 6 — Golden Bay. Cement ...... 0 17 0 0 IB 0 Manning and Co 4 10 ' — N.Z. Con. Dental 116 12 3 Waj'd and Co 5 0 0 -r W.F.C.A. (£1) .: 16 0 THE WOOL MARKET. - , Messrs. Henry P. Hughes rind Sons, the well-known London vroolbrokere, in their annual review of the trade, given some interesting statistics. The imports of colonial wool into .the United Kingdom during the past two years are disclosed in the table appended :— 1912. 1913. Bales. Bales. Australian 878,720 765,511 . New Zealand 522,408 521,110 South African 356,888 356,934 • \ 1,758,016 . 1,643,655 There was a decrease in the imports of 114,361 bales. Of the above,-the quantities catalogued at the, London Bales show as under:—", 1912. 1913.. Bales. Bales. New South Wales 130,950 . 126,122, Queensland. ......... 99,652 ' 106,978 Victoria 106,646 87,168 S. Australia 52,419 27,009 -• W. Australia' ■ > 85,066 71,476 Tasmania 12,756 9,183 New Zealand ...... 416,590 • 388.262 South Africa i.. 41,456 35,059 ' ; ■ ' ••• < ■ 945,543 851,262 Of the above, totals for 1913 the Homo trade took 480,000 bales, the Continent 298,C00 hales, and tho United States 23,000 bales, loaving held over in first hands about 16,800 bales. ' CARGO' BOATS' EARNINGS. The earnings> of British cargo boat com-' Sanies during 1913, as far as can be gauged y til© accounts published in that year,', .were of a satisfactory character. Statistics compiled by "Fairplay" Bhow that 93 companies, representing 598 vessels, of 2,121,427' tons .gross,. with a. paiiup , capital of £10,964,108, made ft profit on voyages of £5,505,850. Of this Bum £3,344,643 wa3 utilisod in writing down tho value of the' fleot. whilo £1,377,615 was absorbed by dividondS', averaging 12.56. per cent. In, 1912 cargo boats, with a capital of £10.559,843, made a profit on voyages of £2,£691516, and in 19J1 tho return was only £1,471,541. Owing to tho deficiencies of past years, and notwithstanding the heavy sums now set aeidn for depreciation, a further amount of £1,130,185 wouldbc required to maintain (lie provision of this nature at- 5 per ccnt. per annum for the last ten year?. The difference, howovor, has been largely made sood bjt reductions of cauitfll, but tho figures

show that, token "as a whole, shareholders m cargo steamer companies would havo been better oft' it they had invested their money in securities that would ho vo paid them 4 to 5 per cent, per annum. Tho rot-urns of 27 pnesenger companies show a material improvement on previous year#. ' On a - capital of £27,067,236, a dividend of 10.37 was paid in 1913. as sgainst 7.79 in 1912. Whilst in the year just closed many companies paid larger 'dividends than in 1900, the latter on a tonnage basis was tho most profitable of any during tho past twenty years, and 1908 marked tho least profitable period. COMMERCIAL BANK OF AUSTRALIA. According to tho Melbourne pa.pors, tho directors of tho Commercial Bank of Aus- - tra-lia, Limited, have notified holders of 2 the deposit receipts issued by the Special r Assets Trust Company that they arc prepared to pay the amount outstanding on March 31 next. A circular to this effect 1 has been sent to every one- interested, and i no doubt the great majority will take i advantage of the offer. At tho same time , those holders' who prefer to wait until the curroncy of. the deposits eipircs by t effluxion of time on. July. 1916, are quite entitled to do so, and, of course, will rc- . ceive their interest 06 heretofore. The total of these deposits oil Decembr 31 last. - was £515,288, and the assets of tho old 1 bank were taken into account at £39,0C0, 1 but would.probably realise something more , than this sum. Tho following figures show " the movements in tho assets and liabilities i of the trust since 1896:— [ „ ■ Liabilities. .. Assets. 1 December. £ £ M* 3,649,772 — , - I'M ' 3,334.903 1.5C0.000 1513 515,288 . 39, CM ' ? , 'IS„,?resont1S„,? resont general manager took effico in- 1901, and his valuation of the assets at' ■ that date has practically been realised. , The liquidation of the outstanding deposits of the bpecial Assets Trust will relievo tho bank of a contingent liability," which has , hampered its movements in many Way.". ! The directors will now bo free to consider _ the best method of placing thri -bank in a position to expand its operations and to i clothe tho Hue framework of a business I which it undoubtedly possesses. A speedy i readjustment of the capital account is what is required to restore the financial equill- ■ "F! 1 ™- and further funds 6hould bo ;romi ,- to °" sur P the necessary progress. ™ne.difficulties in tho way arc not insuperable, provided the directors concentrate their attention on tho task of rehabilitating the bank as a going concern. Tho possibilities in tli:V' connection have doubi--1 less-raduoed tho directors to anticipate 67 nearly two years the-maturity of the Assets »rustia deposits. Otherwise it would bo poor businoS3 to prj.vna-? mo,lev - costing 011 11 J 101 " ccnt ' per aunuro with funds that could be much more profitably employed. < CUSTOMS. Customs duties collected at the port of , Wellington on Saturday totalled £1019 12s. 6d„ the amount for the week being £15,124 13s. 4d. Tho returns for each of the past j eight weeks, compared with the figures for the corresponding period of tho previous I year, show under:— ' 1913-14. 1912-13. „£ - £ December .20 15,316 26,591 December 27 12,006 - 5,969 ' January 3 12,649 1 8.051 January 10". 31.3E8 ' 20.057 January 17 : 18,427 21,491 ' . January 24 23,614 23,191 January 31 18,892. . 13.912 . February 7 15,124 26;262 £147,416 £i 55,434 Tho beer duty collected last'week amounted to £527 10s. 3d., as against £220 Bs. for the corresponding week of last year. FEILDING MARKET REPORT. Messrs. A. H. Atkinson and Co., Ltd., of Feuding, cold-ott Friday a medium yardinc of piga, values running at about last week's rates. For poultry, thero was little der raand for the class of birds olforinc. Fruit was in- good supply, except peaches for wmch thero is keen demand, and norio forward. •.Weaner pigs, 9s„ lis., lis. 6d., 12s. 6d. to Ue. ; slips and stores, 165., 21s. 6d.. Z7i5.,-235. to 315.; sow, 50s. Poultry, at per pair. Eens, Is. 6d., 25.. 2s. 3d., 2s. 6d., 2s. 9d., 3s. to 3s. 6d.; smail cockerels, 2s. 3d., to Zs. Cel.; ducky, 3d. to 4s. Other lines:-Pears, 2s. Ed, to 3s. 6d. per-half-case; j>lums, Is. to 25.; apples, Is. 9d. to 2s. 9d.; cucumbers. Is. 6d. to ,2s;; tomatoes, Zs.; potatoes, 4s. to ss. per cwt. SHEEPSKINS. The Bank of New Zealand has received tho following cable advice from its London office dated February 6:—"The market is strong for all kinds of sheepskins. Prices are id. to *d. per lb. higher." • BRITISH TRADE." By Telecraph—Press Association—Copyright (Rec. February 8, 5.5 p.m.) ~ London, February 7. Tho lfnports into the United Kingdom during January decreased" £3,225,222, exports increased by £2,360,466, and the reexports decreased by £1,109,008, as compared with January, 1913. V LONDON MARKETS. ' (Rec. February 8, 5.5 1 p.m.) London, February 7. Copra.—The market is brisk. South Sea is scarce, and is quoted at £23 to £28 lJs.'per ton.' >N.&. Kemp.—Tho market is inactive. March-May shipment, £26 ss. per ton. Cotton—February-March shipments of American middling cotton aro clearing at 6.59Jd. per. lb. Kauri Gum.—Tho stock amounts to 494 cases. ' Rubber;—Fino hard Para rubber is quoted *t/3s.,>lid. per lb.; plantation, first latex, 2s. sJd..to 2s. 61d.; smoked sheets, 2s. 6}d." Antimony,. 2s. IOJd. to 3s. per unit. Aluminium, £81 to £85. PORT OF LONDON. REBATES TO LARGE PATERS OF DUES (Rec. February 8, 5.5 p.m.) London, February 7. The Port of London Authority is giving Tobates to largo payers.of dues on all goods except meat. The Australasian Merchants' Association is endeavouring to obtain an Amendment Act ensuring equal treatment to small and largo payers of dues.