COMMERCIAL ITEMS.

Dominion, Volume 7, Issue 2010, 18 March 1914, Page 10

COMMERCIAL ITEMS.

shaeemalkeiv The Stock Exchange was closed yesterday for holiday. HTJDDAHT-PAftKEK, LTD, The outbreak of smallpox in Sydney and the strike of waterside workers iii Kevr Zealand detrimentally affected the opera» tions of HuddarWaiise-r,—Ltd. For the year enddd 'December 3i, a, not profit of £57,709 is shown, as compared witli £0.385 for 1912, and the balance available is £65.847. In September an interim dividend .of C per cent .was paid on both preference and ordinary shares, and <i eimilar return is now mado on the ferraer shines, but the ordinary shares get only at the rats of. 5 per cent, per annum, malting the yield on the latter 5A per cent, for the year. TJiceo dividends abeorb £57,566, leaving ii balance of £3347 to be carried forward. A comparison of the lost two balance-sheets is givea below:—

Tho report states thnf. ijnriflg tho term iinder review the corapiiMy's flert has liecn run without serious accident, oad tbo steamer Anglian was svld at a profit on tha price pajd *o tho proprietary company. Tho cteot "fitcamsliipci. <;!<;„" ha/s Ed by £48.575, but the reserve for conti.riBenci'es, dsprcciation, ote.. ia limctitis-ljy unaltered. Denosits by sherchol&rs or* down by £25,663, and cash is w> £50.339, while investments stand at the high Situro of £429,357. Until a poiflwii of the lastnamed Is.invested in new ioaimgs materml cxpan.'iion. in the profit-; can hardy l)o an--tlcipatcd. When ccsto <ai ship teiHSni; arc reduc'd to a reflsoiiabic level obp« more, additione, no doubt, will be raado to the fleet. During the year the rescyva fund has been increased siy &IWB trostt some source not disclosed in the accounts. THE WOOL MAEKKT. The condition-of the wool mai'kel, in Grcnt lirit-ain during the iirsS week in febrnary is summed up thus by the corresjiondfn't of t!ie Melbourne "Aec":—"B«por(e of fotfnlnees from the ContiMt'Bt of liiiwpo <iis.fl from America, the way in which wool i«' raoviiiK in the oversea miirUcU?, and tho facilities afforded by clwap money have operated together to brinß about a. cansnlctc clianeu of sentiment in Wffa'rd to tlio future. Whereas hitherto the majority of oniiiion inclined to i'ci belief that ttoe'epet of tho raw material■ ihtt-st ire lewcTOl. "helore the demand for Ronds wuld ho stjmu. lated, now the hope of Kcttifli* ehtepei , wool i« well nish univefjaliy abandoned. The difference that this suddifl valte face mallet Is wonderful, odd tte datiser now anpearr' to hi that ttrj. tipward movement may be carried too fast and Um far, subsequently causing reaction. Titerc are, however, fortunately influences at. ivnfk to check this, and it is Rroatly to be desired that then- may nrovc onerative in the vay of steadying the market,. a»d .rciklcrintr hu=iness more slow aii'l sure. There can. it is to be feared, be little doit'iit t!i;\V tho present movement originated from mi-f/jl-culation and unsound trattinr. 'iiici whl'fil one cannot but ndmlt th.jt ttifl tempiation tn do whnt liai" been rtono on nßMiy'hriKiH was iircol. il- is "one the Ip.'s t« be ileplorcd. The slackusis of bu6Ulaj3 IB many

branches of the woollen dml worded In(!u=tries in this countrj". dijriiis the latter half of the na:-:t year, which became inprnnoimtcd in Uie linal quatter, i-autscd nianotaumrcrs aiui uiiinlrere tft ret'ii'.oe their prices i's orilei , to attract ordsi's. T'lieir mn'n object was to avoid havitiK to briiijr their machinery, or at auy rate a. csnscdtyrablc proportion of it, to a standstill. What they askod bore iio feaeonablo reLxiion to 'the fsistins cost oS tho raw material, which, as sveryotir , knows, undsfvTCiit very Httia TC<luction. In maH-in-r; their contracts isrodwin-s of yarns end I (roods were Etremrly iiifluenced by Ivh.lt they were tHempelvos exporiencins, end 1 could net bfinfr thc-mcolvcs to believe that their foreign Competitor? vristOd he able to isaintaiit values throilghnnt the current season. In a word, they loohed for raw mAterkil to indemnify ttiem for the cut '.key wbVc making isi thejv prices, es rt/ ! inpans to Foctiro omployurcnt ftir their niaj nhineiy. No-vr they hot the snsou'in the i Southern Heaiisphore sipprcaching' its eehI elusion with rolnes tiding to harden I rather ikan po down, awl instead of waitj ins os they have hitherto f/cen doir.R to i ces wool and toi» ai lower priecs, they are now ri:«'n;iiß to rovor their reo.irfrementj, through, feir of the market coins further against t&oni. . Vi.hql dealer? ami ton mAkslrs. thom-oelves posscESed' of nothing lil;r: tlie stoclii they are acsHrtonjCJl vMict uoi'nial oonditions to carry. 010 taisine their o«oWt«ni», but so tar witllont excrcisinc much effect, in etcauuin? the I eaKsrnc«3 of consumers to see-ore euppliee. j more tins couiil.ry is learninE, to. it -a ! c:ost. tlwt it. H not the dotosneut fscUw in e:Stablir-hing wool values, and that to net upon tliat assumption la risky and dan- | gerotss. j HEMP AND TISTBEH. low price nah- current for Now Zca. I<i.ti4 hemp has wsultcd in a number of mills Tjeinp cJowd. and they fire likely to remain ahtil for some time trakiss is on imnroj-eaicnt.-in-tte tnafket. T.h« closing of the mills has tlirmvn <• poo'l number of hands out of ivolrk, and 6udi tiiiemployctl are fir.difig it- dinJeult to =»- ; v.wk other ivotV. A EFCat inaiiy ilo-rmill l'-andA havo; previously been ct ftiwmills, but, there ie not encagh work offorins' ill tho latter to absorb ell ten [ labour which is m?Wn? demands, Portii- . nately monny will "?><v ch«ip.?r nejt niojitli. ftnd there? is a trood deal in tlw wny of pabUo works which will help to «&orb the uneiapl«y«d. TRADE IN ALIiEN STKEET. Fi-Uit-,—An oscdlefit demand exists for : oookißß arid dessert ftjipfc-s and riea-rs, but, pe-iohej aro a clut on tho njarket. ' and extremely low- prices are ruiinpt. Farther supplies of Maivd oransr?* And bananas are due next iveok from the Coolt foltindm little or no fruit is now coisin? from Bs-tf-iiey. Daily swuplits of tomatoes ore cona- . ins fi-om the. Tlutt district, aad pricts are : on tho low side. ' i Vegetables.—French beans a*o in excellent denuißD. end the dcittand f«r baets lias improved: swedes meet with 1 ..fasFeaJs, find the «-!u.al dem-ftttd esisif tat ' cnJ'ijSowers. piiiainltins, and wftrwwft Cc«. 1 sijrnsienie of flrst-cless mraples of jrrseu I pens can b>; reeoainre.ndi?d. Onions.—The art:et U being supplied wiflt OapteTbnry β-nd Iniwl-Rrowd. aad the price 1 is £7 per ton. FicklhiE onions are in heavy , siinnly. nnd are »9!l3iicr at Id. i>er Ib.. . Potatfif:^.—QnotntioiK vary daily arenwt--1 ins to-tbo en-mples Offering. Prices ranse ' fi""n £\ to £5 per ton, ' : Float- is ruling et £1-0' Vis. p« ton, <s , Wollinfton. Fowls' ti-liOTl.—■Prime wholfl ha? Rood in--1 auiry at Iβ. 5<S. to 4a. b&. por tsßshel. MniEs is slow of sala at 4s. M. Ie 4<s. tOd. . pc baaihel. Bran is in lapn.ry supply, and ii rm-oted ' at .f-4' ss. to ,-M ttte. per ten. > Mlard k (rellintr at *7 to £7 Id:?, per . Wi for both Australian and New Zealand. O-itmeel.—L-eidin? bronds aro seMii"* ot ! £!2 Ms. per ton in ?S)h. tn<:s; £15 tta. for :, 7jh. ba?s. and £12 for 2C§?b. bags, I Boiled Oats.~s'hi?Ho hrana. in Wh. bafe. and Crec-itmla, in 4ib. baps, are eollins at !Gs. per dozen. J , Chaff.—Prime oaten-stieaf feliaff liasi iro.otl " iiiauiry <it £& ite. Iβ £5 per tnn,.M fitore. i »Fresh egirs have adva7u;£d'>ld., ftnd aro . now quoted «it Is. 6d. per dozen; preserved. Is. 4d. ■'.:.■•'.- •TtirttcT.—Mffle- ititlieti, in' bulk., .raedts 3 with ready c-«!e -at 9Jd.- te 'Wi. per 1.b.; good E valitv. Bd. to 94. ' Erolcen. pees for poaltrft feed ft«- in l wad dsraiind at to, 6<L to Ss. 93. per 6 hasheJ. , " Prnfeian Wii« pcaa aro slow -of. aalo at 1 ss. 6d. p6r Imshel. ■ . Poaltry.— Hene, 2s. od. to is. 6tT, per pair; reckere's. 3s. ),o Ss.; good duclillnss.-fe -69.' fo fs.; Indtou Eiinuor ducks. «=. tf> ss. Tnrkcy ■ gobblers, Is. iwst IT), live weight; hciis, ICil. to lid. . ■ -NOTES. a j Durlnj; the second half of 1913 the JTsrI cojii International Marine Cijaimesncftti-oa t Company «;nippe>! or. areraga ojE dnS B fresh ship pet' day witft Qnoaj'a--1 tu3, thereby blingin; the tostel number of i- yesstJa so far liMKilled u.p to o.ppt-oxima.t«ly ; 1803 at the end of 191.5, this figuro betas ex.; 1 chisivo ef warships. Tiio foreign trade oj Japan in 1913' djst clowd an dg-grega-te valne of £!J§..156,9C0,. p this being <m increase of £21,689,900. Ex-. . poi'Si) for the yonr ore valued at while imports, wove £72-,946 H <!!)a, tho respcei tive inqrra.s«! Using £10.5tt,K0 ac-d £11,-.

Tins total nnwbcT ,oi picture show companies Roistered in (Jrcat Sritiiit list yc-ii' \va f ) 644, Vi-HVf a ceinHhied ijapita? of £'2.95-4,700, f.s comiidrod with '-CO vestures' ivit'a a united capital o* SUZ7.4C9. for 1912;. Tk« average capitalitrttion per .eoiiijial'.y woi'hs otitat £S«1, as £8053 is

At Tinjoru an Saturday. 1?7 timarn 6a« stei-rcs, ±3 paid up, were sold at auction at £8 S.\ isc* slisvrc. A ciii-estion 'it Ktittio importance te woblgrowers was rocon-lly by tho GiiriSchureh importers of wool-packs, a»a ne tt result the Ca.nisr6i.iry Chamber o{ ComßiEfcc lifts <;srtntmiiiu;ntat with, ©thw chambers stating that il would be con-skk-red * groat a<lvanta-(fe .if the variou-s si7.es \s-cre- marked by d.ie>Uugs.tfehi-!vg stripp!'. say, Wα. i-inch red. stride; 2 two-tta.lf ineli fed stripes: l .Sin. i-inch blue stripoi 42i«. two J-iadi blut strijiw. U this vcro adopted inucli tro«blo and inconvenience ill lneasurinj packs to -ascertain the tafe would bn obviated. 'J?he ChristehurdiCliaabM- laci been asked by as Christcliuffih. Wooibro-kers' Asseciatien to tajtu flSops to liavc the Biir-th-od adopted I;y oil importers of, wflolptteks in the Dominion, and it was desired that tile witter should be breuftlrt ■under the notice of all importers eo as> io ohtiiin thair coneiirrcßCfi. By tins unifoniiUv weuW be at.tiuiietf, ac<t there ivdulfl be o. greater probability o£ manufacturers agreeing to the Tcooest. As wis natural iritb a- hre-h money mari;et Ell'tiirOttE-h the yeo.-r. and with ttaae tit its busiest, the greater nprtion or the vcar baiiteM , profits to ©rcat ■ Br).tm nrovided' a. nmv record. But those hialt. prefits did not Jneati any Jnw'ease in dividends, becaaee the baik o! tho increased ttroiits werp reauiwsi to moet a, further lieavv deß-reciation in Uio urvestJflont h.vHiu&at tte banfa, Sovemew o.f the Ijj> c«t batita* wrote down tliea; 6eeu«ties Ey £3.360.ee3. ' In 1312 i-hW wrote otf 'heir iJivestrattiW-.- Sfoet ri tho baniie wrote down Consols, to. • "below" market It i« some time. State tlie liondon . Bankers' Maraiine," since there wai-ss dr-o-sn-avic a rccowf y in v&tees q£ iecurltiss . oil- tho Stock BmWb as th-itt. oecui'r<rd during the month of January. Ofl Ijccemhav IS, Cunseto were at the .lmyest jw-nt in their History, txfid iB th« suicceding four wecka not only was tile previous deiar»(Sa.t'ion in t>« 3 eB " ItWdred stocl ? rcCovered','but thsro has .been'a gcji.eni! upward movement in values-'. Talfcmg 387 r:cpresenta,tiva scouritics, the anprcoiftUo-n in the wluft amoonted- on «kuhkUt 33 to £48 JM,OOO. of 1.4 Jμ*' .cent. Fof ilie-. month «f.dod Februftty 20 a further apiircciatlon of £65,e08,K0 is advised by cable' K-rarii, making the jr*i" iroflt tlie. low level of December W £itiMm. or Well over; 3 pes - cent. . The tendency to buy and pledge, so characteristic of speculators in tho United HtM-tea. seetns to h(a«s become mare aiarked ol tata. MEa policies, for example, niipcaf to be ttikoa a , ,! , , Hiore afiil Dior*, merely to be piUVD.cd to th-e i-ESuiSig compftmei' .At tlie-' cloec of 1912 it is stated tliQt rt. dbzMi American life insuKmce caiicei-iis had advaftetd £65.cai-,CCO on tlreh'- iiolicics. In ISO 7. wheti tli-e Armstrong Jaw'woa najsed after the osposc-ro of life iusiH-ajjce £*an(!?!s, the? total of loaßs on policies was only about l-3S,aO,CCO. The majority ef the compunic", states tho Kcw tork cerresivondfiijt of the "I'inftiicial Kows," SJ'o rt-po-titi-g lar-so increases in the lows on jielicte? for tho pft't year AgsreEate gain iiiidi-r this Itead, m throo roflcerna, liiOintLj nearly £6,CM,KO. As the "lavestore' Heview" re-ju-iriK, this of Aaericcm finance, h not, too i?n-:':onragsng for the futuro. Ths iKvciitioß by a citizen «f lieichenup.i'g. Botaaiia. of ii Sfgass far prcih-seing ;i,' Bnbistttute for all elates ot isarbK', ii-idudins -the most liighly-p.riiscd .Italian. Kqvptiaii, atld -Ko.hln.irg martile-s, is attrartias attention in the oil) world. The claim h EMiJo that thi? proiijiet i-5 silpi"rior to genuini! marble, iwirtß ati-Migor, - more substttutial. (itid less liable to crock or (i.'Mjiits'-', and that especially in workinß, bori.ng, or Ui ia'sl-Mhtieu wnrfe thft fejer of iiijsj,rv is much' tei than w'jth Tea! marble, wtiijst it eosts culy one-third its much. Tiuii arfificial marble Iβ (mile partly by luj.iiU and tiartly by reachifte.. The cutting: oiid polisfiing is dose by nifteftino, the (TFOiie-ss beins already m operation ir, Vienna, lierlifi. MaUiiiieim, nv.A linmljv&g, dx'.tl fl-raiigcßseato have, been raa-ilo for se-il-inr; tte f'ff'at. to prodeco it in Frasco and Itussh, wliilo Cie W.I« of patents to a Lmv. don eomsaiiy for llH([!ao<l, Ireland, Scotland, ■α-ini Wales i≤ about to be coimbuimnied. Estin'xitry: ftdvn been prcpSi-nd, tisual, by t.l!<s "EnctiaeeriKS end Mining Journel" ot il"s world's production 'it the ih(!itst,ri«il mctiits f'3f tiro jt.it, Vat popper the fer !.!io world e.rc cslimntcd st ijOCJ.WiO tflntrio toi-ss, O.S a decrease of £!£« touts on the previoup, y«nv. In this eon-lip-r-lira) it. 55 rcarar««d that the, 5,1 isJiican ?lrtki> fdiirpd tli(! AmefiViil totnj, whilo pnlitica! Sro!iM«s alTrcted t.i'r- Mexicon oiHiiiit. iinrt "ic S"'>i;ii''ii (-■".■«r- we— l"'--,- \<\- r«i=nn of etrlkflJ flt Hi') Tin to. A ppi'wlinrity nf Mie AiMCriwiH llgiirci, is (h»t., \rlUio tke smc.l!;ero reported a. omaj'ler out-

put, tbc refineries an increase. The sjwlter output for 1915 is estimated ot U'ui.OM metric tone, as eD-mparcd with tho actuai output of 977,&0 tene reported (ay tsb-e "MeKtllgeseHechivtt." Iβ* 193.2.' RcJcffiiig Iβ the renewal of the European r.hico convention, H -is thetttiencd that the term."' arc afjout the- -sain.; <is tbc old osc.% bi« restriciiou of production is rtm/im a jittic more protnpi. Under tho o!d Unas etir{Aliment began after the price had ruli-d below £22 for fo-tw consecutive months- the unsold stocks bcins in «x<?c«; of SfI.tCO.KO totis. The iiuur" tflfras require tfcflt tliß pries runs bsloiy £Zl for only two month*, in regard to tin, tho fleurns for 1913 eM if/,J 2USS '.oost. lens, as compared w.th 114,19 c tons in 1912, while t-fee csccs s ot production ov«r <on«ubption on thia basis wte very small. Cwtoms duty collected hi the port of 19, i2 B n -V« te r<loy amounted to JiJ^J SOWItEHN MARKETS. (By Associativa.) ft,; ,l * ChHskllUMfi, Match 17. ■the markets have o-pcupd. very quietly this week. Haiders o{ bete, wboai and oats are voi-y Brm in tlre.ii- ideas of \alut and ore eejieml.K- askiiiß. sjore than bnvans are prepared to Rive. Now that milters nave Kiid in eomo sloo'R, nttd the Eac!is.i> and Australian crops have weakened, tto arc not disposed to make any advatace in prices. On the other hand prices dw net j to firm as th«v were a fortnight nco for Tusnw and Huntors, It ivas believed ■Bat there wotiM bo a, greater pronortion of pearl sown this ynn.r, but- tl;c offennßS m fa* this season ■da r.i)t indicate that that was the case. The jnoisn.bSHty. Jiow ever, is that a lesser proportion of peer! was yet been tlirwhcd ag foftpar«d iv-ifli Tnsoaß and Halite's. For tear! the miids price is 3s. 71 and 3s. M.; Hujitets, 3s. 6d. a'nd 3=. 7d.; Tiiscxm, ss, 6si. At tlicse prices, however, the™ fe ,■ very Ktfle basi■■ness doing, thouslt thene is a, fair quantity on flffoi'. Good oats are very firm, but few : etifo of nny description ?.rn cottias forward, and growers are net inc-lined to «o> cett current prices. There Iβ no oliaage in oatsJwaf chaff or potatoes. Goon cocksfoot k fitm, but othe? descriptions we mars rtiffiouH of sale. Oil ions «ro oaai«r. jnd ■£$ IQs, nt country etatlons is now of- ' WOOl; SAM AT BtmKDIJf. Oiinedtn, Jtereh 17. A suppleineiitary wool wife won hold this ertenjoofi, whoa 17M bales were ottw«d. Ther-u wo,s *i representative- gatherise of buyers, ae<j good competition there teiWs; a Boed flotaand thr<»ijc;ho!it. OnWinrtital buyers took ftfaetiealjy 0.1 l the .«eedy wool,' wliile the loeo.l jrlHs comj peted veil for nil tlescriptieps of iiiwes and losfc. Yorkshire buyer's secured tiio best of the croesbtjede. and tiie opinion was tlwV several buyers itmst ho'fe had American orders. IFofittos-were inclined to bn a little sWtfkcr. but wer* in ■rond demand. Th% best- prie«s wore:— Bolfbrcd. to lfflrt.: flac cfoasbrert. to illd.; crossbreS, to 3C3d.; siiswr crocSbTed, to 12jd.i Jambs' wpel. to JU'd.; br-edi to ilrt,; Bierin'j, to lltl.; insrtno, stip'F, to lJd.; Brst rtisces, to 35d.; leclta, to iii. LOWDOJT WOOt SAIjES. 3? Tslsifish—Preps />iwcfiHinn—OowrJtlM" i'Eec. March 17, 10.31 pjm.) tondisn., JlwTch 17. At- -Vkc wosl rales tho fellowim? nrices \veT« ' for flesse porlioaa oi tho clips named■:—"Wailtota," tofl, IM., a\efftee lid.: "Ki*i." ISM.. ÜBd.: "BSldoB." IEJd., 1134.! "Waikcra," lid., ICJ4BANK OP AUSTRALASIA. (Bcc. March 17. 10.30 p.m.) . . London, Jtatcli 17. Til? Baßls p-f AnstralaFia reports deposits totMHn!* 555.i350,954; and securities, £3,549,1i3; biUs, £17,668.435. WHEAt. (lice, Maich IT, 1fi.30 .p.tfi.) . ••■ ■ L6ridon.,liln*ch i 7. j iihe'Tvheet- market is steady; 355. 4Qi4. wss offered for Austraiiaia.e,t-st«o,raei-. j

1912. 1913. J5 £ Capital l,CC«fl i.HsO.CCO Reserve fund J,35o 4,662 Insurance fund J&.7G9 33,503 Kcservo for contingencies, depreciation, etc 30,543 30.607 Deposits 58.295 32-.612 Sundry creditors 65.785 MMi Sleanishipe, properties, etc. 657.0S5 K$,o56 Govercmont debentures, ctti. 432,fl45 429,357 Coal Rtoeka V. 51.949 3J.89S Sundry debtors C6.048 74,853 Cash 11,&H 41,443 Net profit 65,388 57.7C9 Ordinary dividend, p.«!» .„ 1 %