COMMERCIAL ITEMS

Dominion, Volume 7, Issue 2155, 22 May 1914, Page 10

COMMERCIAL ITEMS

INVESTMENT SHAKES. The sales of investment 6harcs yesterday were: National Bank. £5 13a; and National Insurance, 525. 6d. The quotations were as under;— , Buyers. Sellers. £ s. d. £ p. d. National Bank ~ ,5^5 Metropolitan Building ... — 1Z 0 u Well Investment 0 11 0 — Ohristchurcli Gas 7 5 0 ~ Well. Gas. . (£10) 16 6 6 16 7 6 N.Z. Shipping — 16 0 0 Well. Woollen (ord.) 4 7 0 Westport Coal 1.10 0 — Golden Bay Cement 0 19 6 — Manning and Co 318 6 — •Ward and Co — 5 0 0 W.RU.A. (SI) - 16 0 CUNABD STKAMSHIP CO., LTD. The Cunard Steamship Company was able to report record earnings for the past year. Jn that time the- trrose receipts cumo to £3,659,770, as compared with £3,584,310 in tho preceding twelve months. Working expenses came to £Z,46d,456, and £66,735 .was paid away in insurance premiums, leaving a net profit of £1,124,531. Adding £88,964 brought forward ami" £63,248 received us interest, there was a total of £1,276,795, out of which the directors, after paying income tax and debenture. Jinterest, set asirio. £443,637 for depreciation, £3CO,CCO to repairs and renewals fund, £59.735 to insurance account. and £100,0(10 to reserve, lenving a. balance of £251,129, as compared with £209,716. Aft,er paying the preference dividend the directore declare a distribution of id'per cent, on the ordinary shares and carry £130,377 forward., Last year the witm act aside for depreciation was £500,652, whilst £300,100 was added to • repair*'and renewals fund, £42*,Z54 to insurance account, and £10G;GCU to reserve} the dividend on the ordirrory shares being" the some.. The company's reserve fund n&w amounts to £1,010,000, whilst the, insurance account stands at £111,777, and tho repairs and renewal fund*at*£ss,77ll. The result obtained was all the more satisfactory in - view of the fact that iirst-cJass trafliu during the jeav suffered by the temporary withdrawal of tlio Jju&ittinia, but both the second and third-class business show? a seneiMe improvement over 1912. The passenger traffic agreement.between tho principal lines engaged in the North Atlantic trade expired on January 31 last. Endeavours, haves been made to arrive at a fresh understanding, 'but although no settlement has yet been reached, the directory state that ncgotla* tlons have advanced op far as could be reasonably expected. Au arrangement has been entered into with the White Star Line and the Hamburg-Amerika Line for the mutual insurance of a portfon of risks on ships of very high value belonging to the three companies. Under this arrangement tho total risks assumed by the company remain unaltered, but is spread over a, larger number of vessels

ATLAS ASSURANCE. • The figure*? of the Atlas Assurance Company showed-considerable expansion in the past year. In the fire department tho net premiums wero £1,124,296 and the Josses £531,149. Tho underwriting surplus of the Account was £143,577, and after adding £16,742 to the reserve fund for unexpired ri«ke there remained a profit of £160,896, which has been, tarried to profit and loss. Out of thifl profit tho sum of £02,306 has been transferred to the fire insurance fund, making it £1,252,601. Other deportments showed some increase, and the total profits came to £223,829. as compared with £184.125. After paying income tax and debenture interest there remained a balance of £211,701;, of 'which £40,641 has been set aside to shareholders' investment reserve fund to meet depreciation, £82,305 to (Ire insurance fund as already stated, and £5894 to smaller fundi?, after which a. dividend of 80. per share, or 33 1-3 per cent., was declared. The dividend declared a year ago was 7s. 6d. per share, or 31$ per cent, on the capital, Tho total funds of the company, exclusive of capital, amounted to £3,771,904, as computed with £3,534,325 at the end of 1912. COMPANIES REGISTERED.' This week's "Mercantile Gazette" records the registration of the following companies:— Thompson-Payne Picture Company, Ltd. Registered April 18. Otlk-e: Dickens Street, Napier. Capital: £10,500 divided into 10,500 shares of £1 each. .Sufoserjbera: 11. ,1. Dolan, SO; ,1. Payne, 3840; W. H. Thompson, 3B40; \V. S. I'aync, 10; A. M. Thompson, 10; \V. B." Lchmann. £00; K. C. Lchmann, Z f JO. Objects: To acquire the goodwill of the kinematograph entertainment and skating rink business now enrried on ny John Payne and Henry \V. Thompson at Napier and Masterton. Mounfiord and Baker. Ltd. R-cefefwd ns n private company May 7. Office: Harrington'Street. Ta-urangn. Capital: £6C<O, divided into fcOCO shared of £1 crich. fcub» scribcis: E, Crowley, 2000; TV, C. A., Slac-

kenzie, 2000;. J. Snnilgrass, 2CCO. Objects: To acuire fl.s a coing concern the business of iteneral niercliants end storekeepers. cto., now carried on at Tauranga by H. ]). Jfonntfonl «n<l K, F l\ llaker, nud to carry 011 business as wine ond spirit mercliante, auctiftnoers, etc;

Kut-eher, iiocti and Company, Ltd. Registered ns «. private comnanr. ifav 10. Ofiieo: 39 Taranaki Street.-Wellington. Capital: £7500, divided into 75C0 sbarec of £1 each. Subscriber;: Wellington—T. W. Butcher, <000 f.p.u. «n<l 1250 cont.; li. G. Kccd. 2250 cont. Objects: to acquire the business of manufacturers' Agents, etc.. now carried on by Thomas William Butcher in Taranaki Street, Wellington.

Customs duty collected at the port of Wellington yesterday amounted to £4553 14s. 9d.

, - LONDON MARKETS. The New Zealand Loan and Mercantile Agency Company, Ltd., have received the following cablegram from their London Houso under date May 20:—TVillow.—'We ouote present spot values for the following descriptions Good mutton, 355. per cwt.; good beef. J3'3. 3d. per cwt.; mixed, 30s. 5(1. per cwt. The market has a lower tendency. Wheat-.—We have sold an Australian cargo at o7s. 4id„. o.i.f. We quote per ouarter, c.i.f., Nev.' Zealand wheat:—Long-berried, 355. 6d.; ehort-berried, 355. SYDNEY WOOL SALES. By Telegraph—Press Association—Copyright (Use. May.22, 1 a.m. Syony, May 21. The week's wool sales closed with strong competition for all pood classes, late eales being fully maintained. Inferiors were less in.request, and Scoureds went to 262 d„ a record for. the season. AUSTRALIAN PRODUCE MARKETS. • (Rec. May 21, 10.10 p.m.) Sydnsy, May l\. Wheat-, 3s. Mid., 3s. 103 d. Flour, £8. £8 ss. Oats. Algerian feeding. 25.. 2?. 2d.: milling, 2s. 3d.. 7*. 4d. Barley, English, 2<». fid. Mftize, 3s. Sd.. 3s. !d. Bran and pollard, £5. Potatoes, Tasmanian, £6 10?. Onions. Yietorian, £8. Butter, selected, lC<s.: secondary, 906., 945. Cheese, Sid. Bacon, 9d. Adelaide, May 21 ' Wheat. 3s. lOftl.. 3?. lid. Flour, £9. £9 ss. Bran, la. lsd. Pollard, la 2jd. HIDES. Melbourne, May 21. The hide markets report average supplies, and good competition. Prices are firm. ■ NEW SOUTH WALES LOAN. AUSTRALIA'S CREDIT REMARKABLY GOOD. (Rec. May 21, 10.10 p.m.) / London, May 21. - The "Doily Telegraph," referring to the New South Walts loan, remarks that it is open to doubt whether that colony's progress has not been too speedy. However, adds the "Telegraph," Australian credit is remarkably good. I ' TALLOW. SALES. London, May 20. At the tallow sales. 1682 casks were offered and 1555 sold. Prices realised ton, fine 3-<-'. 9d.,» medium 32i0. 6d.; beef, fine 345., medium 325. - . SILVER. London, May 20. Bar silver is quoted at 261(1. per ounce standard. ' LINSEBD OIL AND TERPENTINE.

Linseed oil, £24'105. per ton. K Turpentine, 325. ljd.