COMMERCIAL ITEMS

Dominion, Volume 9, Issue 2668, 13 January 1916, Page 8

COMMERCIAL ITEMS

INVESTMENT SHAKES. No business wae done in the investment market yesterday. The auotations were as follow:— Buyers. SeUers. £ s. d. £ s. d. National Bank 4 19 6 — Bit. N.Z. (£3 6s. Bd.) 10 3 0 - Equitable Building •, 9 10' 0 — N.Z. and K. Plate 2 0 0 — Weil. Invest. T. and A. ... — 011 0 Well. Trust, Loan, Ltd. — 7 5 0 Napier Gas (£5) — 9 0 0 Well. Gas (£10) 16 0 0 - National Insurance — 2 6 0 Gear Meat (£1) 317 6 — Union Steam' (ord.) 13 9 Well. Woollen (ord.) 5 0 0 — Well. Woollen (pref.) 3 7 0 — Westport Coal 17 9 18 3 W.F.O.A. (£5) - ■ 6 10 EQUITABLE BUILDING.' The balance-sheet of the Equitable Building and Investment Company of Wellington for 1915 has been circulated. The report Btateß:—"Your directors liavo pleasure ill submitting to shareholders tile 38th annual report, balance-sheet, and profit and loss account, from -which it mil be noted that, including the amount carried forward from last year, the profit for 1915 amounts to £11,218 ss. 4d. Of this an interim dividend, absorbing £3000, was paid in July last. This leaves £8210 ss. 4d. for appropriation, which your directors recommend should be allocated as follows;—To reserve f>umd, £2000; to payment of further dividend of ss. per share, £3000; and to carry forward the balance, £3218 ss. 4d. In the year under review, £1M (being a second contribution) was donated to certain patriotic funds, and the board also subscribed for, and obtained, debentures in tho New Zealand loan to the value of £5000. Tho retiring directors are Messrs. G. M. Kebbell, Harold Beauchamp, and E. Belcombe Brown, all of whom being eligible offer themselves for re-election. The retiring auditors, Messrs. E. Buchloz and O. S. Watkins, will also offer themselves for re-election.

BESTRICTING HIGH FREIGHTS. Tho threat of tho British Government to keep freights from reaching exorbitant Ilgurcs by requisitioning ships to carry necessities is interesting, states the New York ".Journal of Commerce." It remains to be seen whether Government regulation or tho lav, of supply and demand will prove the better corrective for an unprecedented position. Ordinarily such a tremendous rise in freight? would in due time draw tonnage from all parts of the world, and so afford natural means of relief. For the British Government can I exert no control over the 8,000,000 tons of shipping possessed by nan-belligerent nations. Some real assistance might have been had from the United States had not American owners been discouraged by stupidly hostile shipping legislation. and the futile proposal of Government ships. Roughly speaking, about 25 per cent., or say 10,000,000 tons, of merchant shipping have been withdrawn or destroyed by the war. Approximately, 25 per cent., or 3,000,000 tons, of British shipping have been commandeered, while France, Italy, and Greece have also requisitioned many vessels for war purposes. Such vast and violent changes must ncce«arily have striking ollocto, hcucs the.dlJM vise is,!relshts ijjajwMg. m IBM eMM.

their former level. Shipowners have reapcd fabulous profits, and shipbuilders aro occupied with war contracts, so new mccantile tonnago is limited. Many owners, too, hesitate to invest in additional vessels, because of the risks after the war, when the freight market may be Uooiled with offerings, and international trade will be more or l<ss demoralised and depressed. STOCKS AND SHARES. Bj Telegraph—Pres.s Association—Copyright (Rcc. JauuATy 12. 9.20 p.m.) London, January 11. The following are the closing quotations for colonial shares aud stocks:—Bank of Australasia, £ICB 10s.; J3ank of .New South Wales. £35 155.; Bank of Victoria, £3 13s. 9d.; Union Bank, £49; National Bank of Australasia, £4 10s.; National Bank of New Zealand. £4 12s. 6d.; New Zealand Loan and Mercantile debentures, £76; ordinary stock, £75 15s. UNION BANK. (Rec. January 12, 9.20 p.m.) London, January 11. The Union Bank of Australia has declared a dividend of 10 per cent., and a bonus of 2 per cent., and cairics forward £70,528. METAL MARKETS. (Roc. January 12, 9.20 p.m.) London, January 11, Copper.—On spot, £85 ss. per ton. Tin.—On spot, £173 to £174 10«3. per ton. Lead.—On spot, £31 per ton; forward delivery, £30 l(te. Spelter.—On spot, £89 per ton; forward delivery, £75. Silver.—Bar silver is quoted at 26 15-16 d. per ounco standard. Customs duty collected at the port nf Wellington yesterday amounted to £6762 13s. 2d. ' | !