COMMERCIAL ITEMS

Dominion, Volume 7, Issue 2260, 21 September 1914, Page 8

COMMERCIAL ITEMS

INVESTMENT SHAKES. The transactions in investment shares recorded on• Saturday were: Wellington Gas (£10), at £16; Leyland O'Brion Timber, at 215.. and Taranaki Oil at 2s. 6d. The quotations were as under:— Buyers. Sellers. £ s. il. £ s. d. Bonk. K.Z. (£3 6s. Bd.) 9 12 6 - Bank N.Z. (£6 13s. 4(1.) ... 14 17 6 — Union Bank 5210 0 Olmstchurcli Meat 15 0 0 — Manning and Co 3 18 0 — Waid and Co. — . . 510 WAIEAMAPA FAEMERS' CO-OP. The twenty-third annual report of the directors of the Wairarapa Farmers Cooperative Association, Ltd., covering the period to' July 31, states that despite the strike affectinE two months' trade, the result of our year's transactions is. more satisfactory than the previous year, After havinfc made amnio provision for bad and doubtful debts, depreciation, of stock and plant, and payment of auditors' fees, the net profit for the year is £13,G35 Bs. lid. To this has to be added £6527 Bs. sd. carried forward from last year's profit and loss account, making the total available for division £20.162. 17s. 4d. The amount to credit of profit and loss account is quite sufficient to pay the usual dividend of 9 per cent, on capital and 3 per cent, bonus on shareholders' purchases, but in view of tho unsettled state of business caused by the war, your directors recommend the distribution as follows:—Payment of dividend on paid-up capital, 6 per cent.; payment of bonus to shareholders on their purchases (commission, goods exempted), 2$ per l.ccnt.; payment of bonus to managers-and heads of such departments as have contributed a. proportionate share of profit; payment of bonus to employees who have been three years in the employ of tho association, 2J per cent, on their year's salary.. After paying the Government income tax and the honorarium to directors, there will remain a sum of £10,850 to be carried forward to next year's profit and lose account. Your directors, after careful consideration, . have decided to advise you to defer ■ paying dividend on paid-up capital and bonus to shareholders on their- purchases for the present, which they will pay as soon as they think it prudent to do so. The adoption of- such a course will make our financial position extra strong. Your directors are pleased to state that all our properties. are in a good state of repair. Out stocks arc new, well bought, of good value, and suitable, for our trade. Tho staff is capable and efficient. The retiring directors are Messrs. 11. 6. Williams, A. W. Gave, and D. Oaselberg, who, being eligible, offer themselves for re-election. The auditors, Messrs. Badham end Sellar, also offer themselves for re-election. HIDE AND SKIN SALE. Messrs. Dalgety and Company, Ltd., reporting on their hide and skin sale, state that they submitted a representative catalogue of skins, hides, and tallow. Everything, w-cs sold under the hammer at very satisfactory prices after allowing for the present state of the market. The decline, as compared with rates ruling before the 3jar, can be quoted on sheepskins as from '2d. to 2£d. per lb., and for hides 20 per cent, lower. There is a very keen demand for heavy-weight hide 6, end vendors, the firm think, would be foolish to decline to accept present ratea ruling. Calfskins wore in excellent demand, superior working up to 11 3-Bd. per lb. Brokers put forward very small catalogues of wool; the demand was not keen, and prices wore lower by fully 2Jd. to 2Jtl. per lb for crutchings. The nango of'pricos was the same as published on. Saturday morning. FEILDING MARKET ItEPORT. Messrs. A. H. Atkinson and Co., Ltd., report on their weekly sale as follows:— Small entries of pigs and poultry, with prices showing no decline on late sales. Some good horses .were ofTored, but riot comneted for, bidding on theee and mart sundries being lifeless. Quotations: Bigs, Werners Bs. 6d., 12s. 6d.. r.w.b. 165"., 175., 195., 194. Gd, slips 155., Ids., 205.; porkers, 345. 6d., 375. Poultry, at per pair, heiw 55., ss. 3d., roosters ss„ 6s„ ducks 6s. 3d., pigeons Is. 3d., guinea-, fowl 4a. M.; horses, aged gelding £s,'plough £4. Fruit and produce, apples 25., 2a. Cd. per luilf-caso; potatoes, table 55., 65., 7s„ Bs., 9e„ 9s. 6d. per sack, seed ss. per sack, pig 2s. 6d. per sack; onions, ljd. per lb. bag lots; cauliflowers, 2d., 3d.-, and Id. each. ■ • \ . Customs duty collected at. the port of Wellington on-Saturday amounted'to £593' 103. Bd. - - - : COAL EXPORTS.(By Telegraph—Press Association.) Westport, September 20. Tlie coal output last week -was: Westport Coal Company, 18,500 tons, also 80 tons coke; Wcstport-Stockton,' 3579 tons 5 cwt. / LONDON MARKETS. Messrs. Dalgety and Company, Limited, Wellington, hare received ca-blod advice from their London office as follows:— Sheepskins: At the sales held on September 16 and 17 the decline in prices ranged from Id. to 13d. BANK OF ENGLAND RETURN. By Telegraph—Press Aasoclation-C jpyright London, September 16. The Bank of England return issued for the week ended Wednesday, September 16, is as under:— Ibshe Department Note lisu» £66.483,000 Gov.do'nt ...£11,015,000 Other soourl- , . ; ' tie.! 7,134.000 Cold ... ... 48.03i.0n0 £65,483,000 £68,463,000 BiSKIXO DF.PAnTSreXT. Proprietors' Govt, soouriCftpital £14,553.000 ti03...' ... £25,669,000 Public de- ©tiler sccuriposits ... 18,643.000 ties 113,793,000 ether deposits ...135.042.000 Netoi ... 31,860,000 Best, 7-day 'andftthor bills... ... 3.762,008 Coin ... „. 653.000 £172.000,000 £172,000,000 The leading items of tho Bank of England return afford the following comparison :— , This week Last woek List year Bullion ... ... 48,034.000 46.770,000 40.397.000 Eosorvo 52.518.C00 50.737.0U0 31.731.0J0 Note Issuo ... 34,6-23.000 35/222,000 23.616.000 Public Deposits 18.6C3.tfja 24.403.CC0 9,(i20.000 Other Deposits 135.U42.0tM 130.704,000 42,630,000 Proportion of ■ , reservo to liabilities 21.18 10.81 Go'7s w ' MONEY MARKET BATES. The Bank of England discount rate for three months' bills is 3 3-16 per cent., against 3J per cent last week, and 4 per cent, last year. v Short loans are quoted ),at 2j per cent., as against 3 per cent, last week, and 2J per cent.-last year. COLONIAL AND OTHER- PRODUCE. , Wheat—On a steady market Australian wheat is offering at 475. 6d. per quarter. The Chicago wheat market being quieter has steadied prices. Australians landed oro quoted at 475. Hour is quieter in tone, Australian ex store being available at 4bs. Oats are very slow. New i Zealand ex 6tore being offered at 30s. to 325. ■ Peas are firm, but beans are easier in tone. Butter.—Tho market is quiet. Danish prices show a hardening tendency, but colonial sorts are nominally unchanged. Cheese— The market is quiet, the Government having filled present requirementg. New Zealand coloured, 725. per cwt.; white, 765., a rise of Is. in the latter case and a, fall of Is. for coloured.Bacon—Market dull; 703. to 60s. IB asked for Australian Cumborlandc, but there are no buyers. Sugar—This is now Toted at 28s. 6d. per cwt., a. dron of 2s. on the week. Bradford Tops—The market for merinos is flat, but crossbreds are firm and prices unchanged at: 64's. 29d. per lb.; super, 50's. 28d.; common fill's, 27d.r 56's, 23(d.; 60's, 20Jd. London Wool Soles—Tho postponement of the London wool .sales-from. September 20 the original date, to October 6, lias now been confirmed. This arrangement has been come to' In order to include shipment's arriving to August 18. Thei'e will bo about 60,000 bales available for tho sale in question. Sheenskin Sales.—Bidding at the London ehcepekins sales was very irregular in consequence of tho absence of the Continental competition, the Home trade only being represented. Of the catalogue of 4530 b».!es rf Australasian offered there wore only 3060 sold. Merinos sold at 25 per cent, and crossbreds at' 15 per cent, below last sale rates. All shorn descriptions were unsaleable. Daleety and Co., Ltd., London, cable ns follows:—"Sheepskins: At the sales held on 16th and 17th instant the decline in prices' ranged from Id. to 13d." METAL MARKETS. ; Copper, electrolytic, £55 to £55 10s. per ton. Tin Is quoted at about £135 per ton. Pig-iron, Mlddlosboro' No. 3, unchanged , .at sis. per ton, ■'