COMMERCIAL ITEMS

Dominion, Volume 7, Issue 2256, 16 September 1914, Page 8

COMMERCIAL ITEMS

INVESTMENT SHARES. A solo of New Zealand and Eiver Plate . shares at 38s. wao the only transaction in ■investment shares recorded yesterday. The quotations were as under:— Buyers. Sellers. / £ s. d. £ s. d. .National Bank 4 16 0 — \]3ank N.Z. (£3 6s. Bd.) ... 9 9 0 - Bank N.Z. (£6 13s. 4d) ... 1412 6 - Union Bank 61 0 0 54 0 0 Auckland Gas 15 9 — Well. Gas (£10) 15 10 0 • 16 5 0 National Insurance 2 4 6 — South British 3 17 6 - Union Steam (ord.) 12 6 ■ — Westport Ooal 18 0 — Westport-Stockton 0 2 8 - Manning and Co.' 3 18 0 — Sharland (ord.) 0 19 0 — Sharland (pref.) 0 19 0 - Ward and Co 417 6" 5.1 0 GERMAN CIGARETTE MONOPOLY. Details of the schemo devised for the creation of a cigarette monopoly in Germany, which was mentioned last month in our oable messages, arc to hand by mail. Tho proposal, as originally put forwaJd, provided for the taking over by the State of all cigarette factories,, at a total cost of some £25,CC0,000. The idea. was.that the smaller factories would then he shut down, the larger ones being continued under State control. Managers and workers would not. rank as State officials, but would be under strict contractual relations with the State. Tho .products would be sold to middlemen, and Uy them distributed among tho retailers. Prom such a monopoly, it is calculated, the State would receive a yearly return of from £5,C00,0C0 to £6,000,0C0. The tax on cigarettes would be raised, and a sharper control exercised to' counteract tho competition of the Anglo-American Tobacco Trust. Among other suggested monopollc6 are those of spirits. None of these revenueraising devices, however, had got beyond tho first stages of consideration when the •war diverted attention to more pressing na- ' tional matters.

S.A. FARMERS' CO-OPERATIVE. The profit and loss account of the South Australian Co-operative Farinors' Union for the year ended Juno 30 last reveals gross profits amounting to .£33.279, expenses an d other charges are given as £42,762, tha debit balancs being £9483. Included in the total of £42.762 are salaries and working expenses, £26,622; auditors' fees, £150; directors' fees, etc.. £1004; interest and discount, £9801; insurance, £760; legal expenses, £471; land and income tax, £379; London odice expenses, £739; plant roplnceniesvt, £234; rent account. £1944; ratcu and taxes, £381; and the "Farm," £277. Tho balance-sheet, os on June 30, shows:—Capital. £00,9<9 (250,000 shares at £1 each, £250,000. less unissued £169.051). Forfeited shares, £1685; uncalled, £18,513; and calls in arrear, £1520, reduces the capital to £59.231. Clients' wheat and other, produco ,hcld in trust is valued nt £60,537; sundry creditors, including deposits, £216.153; forfeited shares. £312; reserve fund. .tZO.ftO, and reserve for doubtful debts, £1747. Assets Include wheat, produce, machinery, goods, etc., in stare and condgned, .S141.1B7; freehold property, £39,£03; plant and office furimurb, £19.«3. Tub steamship account apnaars at £25C0; sundry debtors, £118,642; bills receivable, £27,128; and charges recoverable during ensuing year, £2609. The Customs duty collected at tho port of Wellington yesterday amounted to £2997 ss. Id. A SUCCESSFUL YEAR. . '■ (By Telegraph'.—Press Association.) ' Wanganui, September 15. Tho annual report of the Wanganui Freezing Company states that the result of tho year's working, after writing oft an amount of £2079 for depreciations, is a profit of £7058. The present position, of the company warrants a dividend being paid. Owing, however, to uncertainty duo to the war. and the fact that at a time when money is not c<w-y to raise, the company must find £10,C(;0 during the coming year, fot further large additions to buildingo and plant, the directors, recommend that no dividend bo declared, but that tho profits be carried forward. It is impossible to say How the freezing industry is going to be affected by the war but the directors, anticipate that work will go on as Utiual though it may be necessary to hold by-products for a considerable tlmo or sacrifice them. SOUTHERN MARKETS. Chrlstchurch, Septsmher 15. There is no change to report in the grain and produce markets. There lu no wheat offering by growers and prices for this grr.ln are purely nominal: A few oats arc oii'ering. but at prices that ' buyers are not prepared to give. Potatoes are very dull of sale, but there is no change in prices. NEW SOUTH WALES MARKETS. Hy Telcgraph-Preos Association-Copyright Sydney, September 15. Tho rain caused an easier tone in the w-hcat market. Butter lias dropped four shillings, end chewc cased a half-penny por pound. The rain is better than tile war news, and is responsible for p.- more cheerful business tone generally; WHEAT. London, September 14. The wheat market is etee.dy but quiet. SILYEE. (Rec. September 15, 10 p.m.) London, September 14. Bar silver is quoted at 24£ d. por ounce standard.