COMMERCIAL ITEMS

Dominion, Volume 7, Issue 2186, 26 June 1914, Page 10

COMMERCIAL ITEMS

IXVKSTMEXT SHARES. ' The wiles of investment sli-irc« recorded. yesterday were. New Zealand and' TJ;vor Plate at, 42=. Get., and Tnupirl Coal at 21s. 9d. The quotations were.as under:— i • Buyers. Seller?. £ s. d. £ 5. d. Well. Deposit ....'. - 0 7 6 Wdliwrlon fjus U'AO) 16 7 6 Ohnst'-hurch Meat •.— 16 8 6 Jimit E'.oort (£4l 5 0 0 — TTninn Steam Ship (oref.j t fl 6 — We'l. Woollen fprcf.) 3 3 0 - lioylflntl-O'Bricn" — 14 0 Manning and Co — ~ 4 0 0 8.1.5. N. COMPANT. Tlie, accounts of the British Indian Sham Navigation Company. Ltd., for ISIS, show a net profit, after making o, liberal provision' for depreciation, of fI'JO.I'O?. to which is added balance broT-Th't forward. £15,583, making loiet-her £K6.355. Dividend of 5 "'or cent, on preference stock absorb* £.i5.0C0; dividend of 7A par cent... and spe<-ie.l bonus of ?* uer.rcnt. on ordinary shares ■ e bi?OTb £95.720: and'the balance. £15.656. is carried fnrrard. The distribution oi !0 per cent, on Hie ordinary shares is the fame as for >'>o previous year.. The capital is £1.657,MO.'incliidine £700.000 In 5 per cumulative- preference slock, and £957.200 in o'dinftry shares: addini; reserve fund, £500.000: insurance f"i"t. £l.foo.fCo: profit am' lwn balance. £.95.384: debenture stock. . 4J per cent., ii1.fi57.2C0: debentures, £251.970: and tl"bt,i end li"h;.iit.ic>. iii/Jndinr; bills payable etc.. £938.197; the balance-sheet total i» £6,099.951. Assets comprise 120 steamships, also tucF. tender 3. cool, carsro bareos, aiid other craft. £4.336.883: oarmenls on account, of new steamers. £503.666: coal and stores. £310.776:' property; £539.069: debts owla* t/> comnanv. £143.370: and cash. £276.186. The fleet is now 544.911 ton', afrainst 492 030 ton? a year nreviouslv. Tho reaort refers to the consiilorflhio delay which haa occurred in rettlm? delivery of new steamers. owin<c to labour conditions in the hnildin<»' yards. Sin-fl December 3) four stealers li'n-e been d»livcred. and another stoamer,-< are about to be delivered. Two carcro steamers were acquired durinsr the year. The cnmpanv has iho acquired from Jfrnsri'. X'Tlwrnitb. Jf'TV-liarn and Co. the Cooeysinna. and the. business in wh'eh that FUyimei- wan pn?ng"d between India- and Australia. Orders ha<-> hepi njneed for nin» more steamers, all of Hii-h are arcfitly wanted to n'«et Ilia development, of t-'i" company's ti-ad". and to renlnce >om» old vessels v.lrf»h will be disiose'' of as soon' in the new shins are read".' Tim fonilts for the enri-ent. year, an far. ho.ve been pood, and filthniieh shiinins "ror"\"ts at tb« morni.pt ere not hrMil. th" .iir" , anticipate that' Hie results for 1911 will be fairly sat-isfactov-v. ' COMMOSWEAI/lUf HANK. The most interesting feature of thestalenient of liabilities mid aeA-ls of the I,'oinmomveajth llank of Australia, on March 31 is< that for. the first, time it- shows a decided advance in deposits in the ordinary banking department, as compared with the a maun t with, which that, department opened. On January 20. 1913. nearly 17 month* agp. when the ordinary bunking department was opened, the result of the ilav's operations was the deposit, nf £2,341.720! the . bulk of which, consisted, of funds belonging

to various departments ot the Commonwealth Government. That amount was not maintained, according to statements published in 1913 and cm December 31 last Iho amount of "deposits, accrued iiilcreA. and rebate" was £2,387,521, being only slightly in excess of the opening day's amount. But the statement, to March 31, 1911, chows deposits £2,961,957. or an increase of £594.435 • during the quarter, the real increase being doubtless slightly greater if accrued interest were taken into account. Government deposit; arc not distinguished from private depo.-its. "Rills payable, etc., thow on increase of £268.116. Oh the other side, coin.buliion, cash balance?, and Australian notef) show an increase of £205.976. nionev at shorter call in London en increase of £381),t'90. and advances, etc., an increase of £266.063. The increase in Savins.? Li/ink deposits (limns the quarter is £360,926: while . the investments held again,?!, the Roving-* Bank department funds show an increase of £548.059 in Government senniti™, fl p,i an increase of -464.5C0 in fixed dopc-its with other honks. The statement, as at March 31 differs from a bftlaii-c-ehcet, as accrued interest i- not rho'.vn as taken into account, while the two widas do not balance. The Savin?* Hank' deposits. J'4,093.745. eomcore with £2.043.230 on March 31. 1913. and have thus almost exactly doubled in the twelve months. It .will be noticed that the it-™* in Australia, and fix»d deposits with other hanks, amount together to £2.731.3!5. .-.11 •-.( ,i-'ii"li. wi'Mi lli» exception of probably about £100.000. is lodged with the tradinz ,bankn. KATIOXAL BANK. v The general- managor of the National Ban!; of Xew Zealond. Ltd.. has received a. cable message from his London Board advising that the annual meeting of the bank will be held in London on July 7, when it Is proposed to declare a dividend of 6 per cent, for the half-year .and bonus to shareholders of 1 per cent, on paid-no car - '- fell (£750.M(1), e<|uallinT 13 per cent, for'thc year endod jr.irch 31 last. The cum of £?/l£oo lins been added to the reserve, fund, which will then stand a.t £665,000 and £4,5.309 earned forward. The directors have •further collected £15,000 in reduction ot bonk .premises account.' and £5000 to the officers' pension and gratuity funds. Customs duty collected fit the port of Wellington yesterday .amounted to £2232 19s. 6d. LONDON MABKETS. The New Zealand Loan and Mercantile Agency Company. Limited, have received the following cablegram from 1 their London house, .under date. June 24:—Tallow: We auote present spot values for the following descriptions—Good mutton, 34a 9d. per cwt.: good beef. 525. 9d. per cwt.-. mixed. 295. 9d. per cwt. The market is quiet. .Hhcat—lVe have sold on Australian cargo a. .•■6s. 6d. c.i.f. There is very little demand, owing to favourable crop reports. The general outlook is discouraging. SYDNEY WOOL SALES. Br TclcrraDll—Proas AwMvjon GoDjrigM '..' , , Sydney, June 25. . A» the wool sale.? there was a brisk markc, and keen competition for all claws. Values were 2J to 5 per cent, above those ot the May pales. COMPETITION KEEN. llee. June 26, 0.50 a.m.). m . , ,' ' Sydney, June 25. the wool soles—the last of the present sonetj-closert with competition keen for all description. • The improvement was chiefly in .the faulty forts. Grcacy realised up. to lad.,'scoured to 253 d. AUSTRALIAN' PRODUCE MARKETS. „,' /, '~ Sydney, June 25. WJWIJ'. 3s. lOJtl., 3s. lid. Flour, £8 55., £8 7a 6d. Oats. Algerian feeding. 2s. 4d., fe. 5d.; milling, 2s. 7d., 2s. Bd.; Taemaniaii. 3s. Barley. English,-2s. 6d.; Cope maltin-, 2s. 6d.;-"seeding. 2s. lOd. Maize. 3s. 6d.. 45.; 'Java. 3s. 6d. Bran and poltard £5 h». Potatoes. Tasmanians. £5 10s. Onions Vi-. torian. £7 155., £8: New Zealand, £7 5* ■ pieklers £3. Butter, selected, ISfo.; secon' dary joss., 108s. Cheese, 9d., 9Jd. Bacon, o.;«., 9tl. ■ —. . . „, Adelaide. June 25. Wheat. ,h. 9d.. 3s. lOd. Flour, £8 ss. Bran. Is. 2d. Pollard, Is. 3d. . HIDES. „,. ... , Hclbourno, ,T,uie f.5. | lie hide* markets report average supplies all round.. Tho market is firm. SHIPPING AMALGAMATION. , nu „ . , London, June 24. The Peninsular and Oriental Steam Navigation Company's stockholders, an a meeting, approved of amalgamation with the. British India Steam Navigation Company. Kir Thomas Sutherland, chairman of the P. and'O. CoiUpany,-stated that though tho P. and O. Company controlled the combine, it would not, undertake tlie detailed management'of the British India Company for at least ten years, during which time the British India. Company would retain ,it.v own management. Sir Thomas Sutherland said he hoped Mr. Tncuoape, chairman of the British India Company, would become head of the combine wheu he himself retired. THIBTtiTWO MILLION LOAN. (Hoc. June 25, 11,5 p.m.) Paris, Jiine 25. The thirty-two million loan wil be issued et 31. ' . WHEAT. (Rcc. June 25, 11.5 p.m.) London, June 25 Wheat is weak. Prices arc from 3d. to fd. lower and buyers are unresponsive; 3.55. 3d. is the price at which it is offered, but 3t5. k< the best bid. TALLOW. London, .Tune 24. At the tallow sales 1196 casks were offered and 783 sold. Prices .realieed: Mutton, fine, 355. 3d.: medium, 335. 6d.; beef, fine, 335. 3d., medium 31s. 6d. The. New Zealand and Mercantile Ar»ncv Company, Limited, lias received the following cablegram from its London house, under dote June 24:—Tallow: We quote present snot values for the following descriptions:—Good mutton. Me. 9d. per cwt.: good beef, 32*. 9d. per cwt.: mixed. Ms. 9(1. ner cwt. The market is quiet. Wheat: Wc have sold an Australian cargo At. 3A-.1. 6d.. c.i.f. There j s very little •demand owing to favourable crop reports. Tho S?nc'.'«l outlook is discouraging. SILVEfi. London, June 24. Bar eilvcr is quoted at 25 7-Sd. per ounce standard. LINSEED °OIL AND TURPENTINE. v ■ London, June 24. Linseed oil, £25 10s. , Turpentine,' 335. 7'd.