COMMERCIAL ITEMS

Dominion, Volume 9, Issue 2646, 17 December 1915, Page 10

COMMERCIAL ITEMS

. XNTBSTMBNT SHAHBS. . The share market has come under the Influence of the holidays, and business, as iYory quiet. There were: no ♦recorded yesterday, while the quotatibris' 'twere a-s under:— ■**. v- . . . ~' BriyejriC Seliera:: ; . £"s; r 3k-<,,. "i'£'s. d. National Bank 5 2 6 — OBank N.Z. (£3 6s. Bd.) .... - . 10 3 6 Well. Invest 1\ and A.. .. — 0 11 0 •Well. Gas (£10) - . 16 0 0 •Well. Gas (pref.) ' —. . • 0 19 0 National Insurance - - 2^S 3 ff.Z. Insurance ''6 -7 " 6 South British Insurance'*4 15 6 *Gear Moat f£l) ...; 3 12 6 — N.Z. Shipping (ordl) — 18 0 0 - JJnioni Steam (ord.) 14-9 - — Well. Woollen (ord.) ....... '4 19 0 . iWell. Woollen (prof.) 3v'6 6 V v. '--r ■Golden Bay Oement ' 10 3 i fWF.C.A. (£5) . • - 610 *Ex div. ;BANK OF NEW SOUTH WALES. ; • The balance-sheet 'of the Bank of New . Bouth Wales for the half-year,, ended Sep- ; tember 30 la-st, will be found- in detail in another column. At the meeting of share- ! holders, held in Sydney on -November 26, the president of the bank, Sir Gharlesi-H. ' RlacK.ellar, was in the chair, ; and \in"rnovinjr the adoption of the report andJ.ba.l- . ' tnoe-sheet, the figures of .which weie fuJly , explained by him, he said:—,..; ; ! '- "In pursuance of the policy- which«was . ©unciated at the meeting of shareholders ■ n May, 1912, the board has deoided to igain bring before you proposals for' a " farther increase of the capital to £4,0C0,GG0, 6y the issue of £500,000 of new ; shares, to] po distributed to . shareholders''on.'a pro } rata basis at par: At the meeting-1-have 6 referred to the'board sa-id'.,that''they 'were not unmindful of their duty to the shareholders in the matter* ! of:.profit : *distribu- : 1 tion; but we consider that,.the. best inter-. . ests of all ooncerned are much more adequately sened by . .maintaining a high ratio of shareholders' capital to the re6ource?'derived'' from' the' public .than by \ ■ a'high of • distribution on a smaller . ratio of capital.' While we recogniss that 5 tlip war has for a time brought about con- c ditaons which have caused a certain amount of financial .-disturbance,-after very careful consideration, we do ' not think * that these are sufficiently strong to make us,halt in carrying out the policy I .have just referred to. Wo wish it to be clearly . understood, 'however,- that so far as the bank'is concerned, in'new of'the' unusually strong position of the liquid reserves we'have been holding ;for'some time, theje 8 is no actual banking' need for increasing the capital.. We are. solely actuated by a u dosiro to steadily carry.'out the dctermina- E tion arrived at as-far back'as. 1893 to keep a the capital' and business in a proper relation to-one another.•;.*lt. is our.intention •that the new • eapit&l. shall bn invested in cur Federal War Loan, and.this also in > accordance with the views set forth in 1893. f. "When I'..addressed you last May en .. ,tho state of trading and financial, matters ' in. Australasia,-I said that the local situa- J [tion after more Oian silt months "of' war f'

r-was, taken as a whole, such a-a to" Kivo 'us confidence, for the future. And now, after another- six months of war, I can ' still say the same. It is true that in a larjro part of Anstralia tlio seasonal conditions have been unfavourable. The Nor- ■ thorn portions of-New South Wales, and practically, the whole of Queensland, have suffered, and are still suffering, from severely droughty conditions, and it is to bo feared thero will be considerable losses of % stock/ On tho • other hand, what may be termed the agricultural areas of Anstralia, viz., tho southern portion of Xew South Wales,' .. including Jlivcrina, • tho whole of Tigtom, South. Australia, and fchu v/hcat area of Western Australia, have uv prospect. a, very abundant harvest. There as every indication of a large money return from' this source, and steps are being taken-to get.the crop to market and •realised as'speedily as possible. There will also be fair wool returns for this year, and, here, again we hope that there* will be; no undue delay in turning thia valuable product into money. From theso two sources at any rate there should be a large .increase in \ our exports which are so vital to our local prosperity. 'Whilo Australia has been divided between good arid bad seasons, New Zealand Has had a xcty prosperous time, and her .exports show a very large surplus over her imports. -Speaking generally.so far as the bank itself iB. concerned, our business is bo well Australasia and bonaon that the average of the whole, even ■under seusonal conditions such a-s I havo .•referred, to, .works out satisfactorily." COMPANIES REGISTERED, jln the-.list of companies registered, pub-ushed-m this week's "Mercantile Gazette," tnerc appears the following:— ' Itfanawatu Daily Times" Co., Ltd. Registered as a private company December 13. Office:- The Square,- Palmerston North. Oapvtal: £5000, divided into 9CCO shares of £1 each.; Subscribers: Palmerston North- • 3° o; H - Pope. 250; W. De"si nC V I AV M'Kenzie, M. H. Oram, J - Seifert,.sCo; C. S. Rush, 500; L. SCO: J. M. Johnston, 500; P p ? c/ p°"nor, 100; 0. J. Monro, 500; T. H. Moore' nh' ! rn €C '- A* koughnan, 750! Übjccts: To acquire as a going concern the Dusiness of a newspaper proprietor and publisher m its. Tarious branches heretofore carried on by W. S. Smith, of Palmerstoii Isorth, under the style of "The liana,wauu Daily Times newspaper. duty collected at tho port of 13s ■ yesterday amounted to £3430 DUNKDIN WOOL SALES. By Telozraph.—Frc/s Assoclotlon. I J-'- -~ _ Dunodln,' December 16. be hild v.^ r w 7 0t>1 , sale °, f Ihc season, to : inn hf. w S liDes<i;! 'y. about 15,£00 bales l bails flft-h?' ' aS c S™P arcli W'th 16.200 . Dales at the corresponding sale last year. 1 LONDON" WOOL SALES. By aa ß *raph-P rew • .. . . (Eec. December 16, 8 r p.m.) Tim *i? ndon » December 15. J ihe wool sales aro strong; there i" a eood < 6lipe , s ' is more getferal .] -ompetition,*, and ■ prices a/re harder, end { merinos are, firm at full rates. Tie fol • .omug prices were. - realised for the flecce , jortioa . clips named:—"Gear," tcp ISd ' : " AwauM '' & MELBOrENE WOOL SALES. r ■~, . Mclbourno, December 16. At the_\vool sales all records were broken r ifemo fleece, fetched 23Jd. per lb, ] . ADELAIDE WOOL SALES. . - f •V. .- ffiec.; Pecemb'er 16, 8.40 p.m.) I nii» i n 'i !i : December lg. : 1 mtßs of Tk closed strong at the best s W VLJJS / eaSOn: fetched t id., a record for a quarter of «, century, f, PHODUCE MARKET. -r, .w. .■t'n'fßea;," December 16, 8.40 p.m.) g n , . Sycfnoy, December. 16. T rtS^'-v m ?5 loa ?' 3 i s " 10 3s -, 6d " : Tasmanian, »Si.te, 3s. 6d.j barley, malting, 3 S , to 4s ■ uaizo. Soutk African, landing ss. <M . to " s. 6d. : potatoes, Tasmanian, old, £10, to f< ;13; new.' ,£l6 10s.; others, £8 to £17' •nionsj.new, £4 to £5, . : ' V,, . Adelaide, December 16. s M.'oftß.i 412 103 - : bran ' pollard,, g ; — 3. . >.. , TALLOW SALES. , . ai .(Eec. JJecember. 16, 8 p.m.l ' ■ , London, December 15. -Q Art «n° 0W wfae offered ■ -nd.638:• sold,. Mutton, fine, 605.; medium/ n /s.; beef, line, 505.; medium, 465. Tho delines range from 2s. to 45., and was most ni nd mutto" mied ' and lowcst Eorts 01 beef i ■ . ; ' " - aj ' LONDON MARKETS. 'Zealand ■ loan and Mercontilo C igency Oo.v Ltd., have received the followog cablegram from their -London house, It 0 15Tallow; We (juote tl spot values for the following de«-nptionsj-Fiiie mutton, 495. per cwt.; good ref, 48s. 3d. per cwt.; mued, 455. Thero is n steady market. Wool Sales.-The market is strong. As' omparcd with November 18, values have f n dvanccd. Merino, 10 per cent., except in- /r ;nor-and lambs; 7i per cent.; crossbred,' ' res®, 10 per cent.;, scoured and slipe nt ! .per cent, to 10 per cent. . ' ! ~ W; Never lias the demand for clear-headed in instructive thinking in business been 3- urgent as it is right now. We are livlg in; a progressive age, and niust take 60 dvanlage of all- up-to-date methods. It so hiri savings from waste of any descrip- co ; on that money is made to-day, and by Ki jncentrating one's efforts oil all details ac E our. business , "we claim to lie able to w] rotlnce reiults. for our many cream sup- mi liers. "We want more creain. Can you lia ipply us?,. Further particulars, Wariga- os iii Fresh Food Co.—Advt. R c ' • w!