COMMERCIAL ITEMS

Dominion, Volume 8, Issue 2566, 14 September 1915, Page 8

COMMERCIAL ITEMS

INVESTMENT, SHARES. - In .thje' investment yesterday a ;6ale of , Napier Gas at £16 was reported. tKw; .quotations' were as under■ i I'- 1 '" Buyers. Sellers. . ■-'> : r '. . - £6. d. £s. d. National Bank '.4'16 0 —. Bk. N.Z. (£3 ,65;.: 8d.)...-... 10 0 0 - -, - Bk. -,N.Z. (£6 ' 13s. 4d.) ... 15 17 6 16 2 6 Union Bank--/; 51 0 0" — "Well. Dep/aad Mort. ... — 0 8 0 Well. Gas 'fpref.) ............ — 10 0 South Eritiah - Insurance — '415 0 Well.-Meat Export (£5) .-. •. —~ 1 6 0:0 Well. Meat' Ex. (£2l2s. 6d.); - 217 0 Union .. Steam (ord.) 1 2 0 — Kaiapoi Woollen (ord.) ... 5 4 6 — ' WeU. -WooUen (ord;) 419 0 -■'■ —; Well.- Woollen , (pref.) 3 6 U — Leylaud-O'Brien . ............. 1' 2 3 —. N.Z.' Portland Cement 0 19 0 10 0 • N.Z.- FABifERS' CO-OP. ASSOCIATION. : •• ,The balance-sheet and.report of the New Zealand 'Farmers', Co-operativo Assooio-. tion of Canterbury, Ltd., "for the year ended' July: 31 last, together with a circular letter to shareholders, in :which some in/terestihg statistical information is given,: have been, circulated; • In' their report the : directors state.—During tho . year 207 al-. lotments or ordinary, shares were made, representing 691 shares, upon a basis of £2 paid up, and at a premium of 10s. each; '3931' A preference shares were also allot-ted-at. par. to, 118-applicants at £5 each paid up. The profit and loss' account shows that the.'net profit for the twelve months amounted to £60,031 ss. 10d.; to which has to be added the sum of £2801 12s. 9d„ ,brought forward from last year, making a total to be dealt with 1 of £62,832 lte. 7d.

■ The 'directors . propose to allocate this amount-;-as follows: —To pay 6 per' centinterest on the preference share capital; to pay a dividend and bonus equal to 8J per cent, on" the ordinary paid-up share capital;-- to pay a bonus on the basis of 5-per cent., on shareholders' purchases'of merchandise- during.' the year, (sundry net items excepted);, to- refund 30 per: cent, on 6undTy commissions earned' (net business and wool excepted); to carry £10,000 to the reserve . fund,, which will, then stand at £131,743 10a; to writo 10 per cent, depreciation off the machinery and plant, and •a further sum of .£IOOO to provide for degreoiation of motor vehiclee; to contrive £1000 to, the'employees', superannuation fund; £1000 .to tho special : fund to provide for contingencies with respect to members of the etaif at the war, and to carry tho balance forward.

The gross profits tor .tho year totalled £137,981 183. 2d., of whioh £9(1,792 ss. lid. accrued on merchandise, £25,©S 12a. lid. on commissions, etc.. £19,917 .17s. Bd. oni interest, .. discount :and exchange, £1254 19s. 2d. on grain and "wool store earnings,*and £30 2s. 6d. on transfer fees. The ' expenses of management amounted to £76,303 os. 2d., of which salaries and 1 wases abeorbed £54,862 , 7s„ and £1647 12s. 2d. was written off for bad debts, leaving tho net profit at £60,031 ss. 10d., ■which is very nearly:so per cent, of ,the gross profits. The assets include property £144,292 15s. sd„ machinery and plant £25,783 14s. 6d. stock of/goods in. stores- £239,393 7s. Id' advances against produce and etocS £459,.450 -18s. 2d., . sundry debtors £212,837 ss. 3d., cash £157,026 . 6s. Id. The paid-up capital is;£105,011; ressrve fuud, £121,743 10s.' Other liabilities include fixed deposits £259,182 Is. 10d:, aroiount at credit of - shareholders' current accounts £297,010 4s. sd„ and other smaller items. - '

Customs duty collected at the port of Wellington yesterday amounted to £3468 3s. Ed. .

HIGH COMMISSIONER'S CABLED MARKET REPORT. The Deportment of Agriculture, Industries, and Commerce lias received, the following cablegram from the High Commissioner ■ lor New Zealand, dated- London, September 11. (Note: Quotations, unless othanviso specified, are . average market prices on spot):— <. Meat—The market is rather quiet, and there lias been lass demand for all descriptions of frozen meat during the week. ' Mutton.—Canterbury, 7 "3-Sd. per lb. Thero is a small supply of North Island, but it is not quoted. Ewes, in fair demand, 5Zd. .Ldinb.—There is' a poorer demand for lambs owing to a large 6upply of Scotch. Canterbury, two's, Bjd. per lb.: heavyweights, four's, 7i;d.; 6econd-class quality, Bd.; other than Canterbury, 8- l-16d. for best quality light-weight; Boef.—New Zealand: Thcro is only in--fcrior quality for sale. . Hinds, 6id. per •lb.: fores, 6a. Chilled hinds, Sid.; fores, 6Sd. : Butter.—Tho market is very firm. Prospects . are favourable for New-. Zealand ;creamcry butters, and thero is over y prospect of the high price ruling being maintained until the end of the year at least.. Danish, per cwt., 1745.'t0 1765.'; Siberian, 1345. to 1385.; Irish, creamery, 1575. to 1605., end up to 1625. Cheese—The market is firm at tho advance. Canadian, finest, white and coloured, jier cwt., 765. to 775.; fine, 745. to 765.; English cheddar, 945.; New Zealand, 755. •to 765., and up to Tie.; 'United States, finest '70s. to 745.; good to fine grades, 645. to 68s. ' Hemp—The market is quiet, but steady. 'Present quotations; aro:—New Zealand: October to December shipment, good-fair 'grade, per ton, £33; highpoints fair, £32; fair, £31. Buyers are. probably Es. less. .Spot commands about ss. to 10a. premium, but there is little ottering. Tlie stock of New Zealand on August ol was 576 tons. Manila: Shippers are not anxious to sell, and the market is, quiet, but firm.. , New graded, fair, Septemoer to November, £38 His. per ton; spot, £40, nominal. The output from Manila for-the week was 20,000 bales. ,

.Wheat—The market-.is quiet, and tho tendency is downward. Drops all over tho world promise well, and the European crop .is - estimated, at 1 ' about ;■ 30,000.000 .quarters 'moro than 10-st year. There ia a slightly. better, speculative demand, but the con--sumptivo Hema nd is poor. New crop Canadian, Septeirihej* to Ootober shipment,, 455. per quarter ;■ October to, November, 445.' 6d.; American, September ', to October, 455. 6d. - ■' Oats.—The market: is . steady,., but without animation. Argentine, on'-.spot. 265. per .'quarter;'on passage, 245. :'6d. ■ : Wool.—The market is. firm, and rather more active. '

LONDON MARKETS. Messr6. • Dalgety and' Compjmy, limited, beg to. advise having recoivea tho following cablegrams from their London office :— At the tallow- auctions, prices /were unchanged to 6ci. advance. Quotations:— Prime beef, 375.;" good mixed, 345. 9d. to 355. 'The opening rates at the wool sales'.are fully maintained. ■ Russia is buying freely. - Good scoured merino are 5 per cent, to 7i per.; cent, dearer than closing rates of July sale. Merino lambs are unchanged, but crossbred-lambs are s'per cent.-lower. -We quote average 64's costing 2s. lid. to 3s. . . LONDON WOOL SALES. Messrs._ Murray,, Roberts, and Co., Ltd., have this morning received a cablegram from their London friends, Messrs. Sanderson, Murray, and ■ Co., 1 under date September 11, as follows"Best descriptions, market Arm; faulty and - inferior, market very weak'and irregular/'. : ; ■ 'SYDNEY WOOL; SAiLBS. By Telegraph—Press Association—Copyright . (Rec. September'l3, 11.10 p.m.). - Sydney, September 13. >. The new season's wool sales' have opened. Competition is somewhat languid. A feature of the business are the' Japanese, Italian, and United. States purchases. All good classes maintained the levels of the closing sales last ; season. Faulty and burly are still neglected.