COMMERCIAL ITEMS

Dominion, Volume 9, Issue 2684, 2 February 1916, Page 8

COMMERCIAL ITEMS

INVESTMENT SIiiRES. In the investment share market yesterday a sale of Wellington Trust and Loan at £7 ss. cum div. was made on 'Change. The quotations were as follow:— Uuyera. Sellers. £ s. d. £ s. d. National Bank 5 0 0 5 1 0 Bank N.Z. (£6 lJs. 4d.) ... 16 7 6 — Building 9 15 0 — ■Loan aud Mercantile (pref.) — 83 10 0 N.Z. and River l'latc ... 2 0 0 Well. • Invest T. and A. - 011 0 Cliristchurch Gas (£5) ... 7 8 0 — Gisborne Gas 112 0 — Ivapier Gas (£5) — 9 0 0 Well. Gas (£10) 16 0 0 - N.Z. Insurance ~ 6 6 0 Wn. Jreat Export (525. 6d.) 213 6 — N.Z. Shipping (ord.) 17 17 6 — Union Steam (ord.) 16 3 16 9 Union Steam (prof.) 10 6 — Well. Woollen (ord.) 5 10 ' — Well. Woollen .(pref.) 3 7 6 - Westport Coal ;... 18 0 — Tariu.p-amutu Totara — 2 2 0 N.Z. Drug : 2 4 3 2 5 0 oharland (ord.) 14 3 — Sharland (pref.) 14 3 Ward and Co 510 0 Kauri Timber (165.) ...... 0 14 0 ' — Crown Brewery 113 9 114 0 •■'Cum div. AUCKLAND GAR COMPANY The annual report of tlie Auckland Gas Company for the year ended December 31 lact shows that profits after all deductions amounted to .£61,837 15s. 9d., to which is added £54,5C3 is. Id., balanco from 1914. Deducting the dividend naid in February last, £25,691 Bs. lid., there is left £28,016 14s. 2d., which added to the profits totals £90,654 9s. lid. at credit of profit and loss. From this sum there is to be deducted the interim dividend paid in .Tulv. amounting I to £25,718 14s. 7d„ leaving £64,935 15s. 4d. for disposal. . From this , tile directors propose to pay £25,737 10s. 6d„ leaving £39,198 4s. lOd. to be carried forward.

SHIPPING AMALGAMATION. When the last mail left England it was rumoured in London that the Itoyal Mail Steam Packet Company was about to amalgamate with u rival concern. Commenting on this matter the "Financial Timet;" says:—Some of the biggest interests connected with the , British mercantile marine have been discussing for some timo past a. scheme calculated to render impregnable the hold which Great Britain possesses over the world's shipping industry, which has been greatly strengthened since the commencement of the war. "Broadly speaking, the intention is to link together the lines proceeding to the East with those whose route lies in the opposite direction. As a matter of fact, intimate relations do already exist inmost cases between such undertakings, though they fall far short of an amalgamate, It would not take, very much, however, to weld them together under one administration. In addition to this, it is eouglit to bring into the scheme the principal lines proceeding north and south of the Equator, and to link them ud also -with those lines which connect the two hemispheres. Such a project, if consummated, would represent, of course, the biggest ■ thing of its kind ever undertaken, wliue it would probably work satisfactorily, at any rate from the point of view of the respective bodies of shareholders, and this is not the least of the objects aimed at by those responsible for what is by no means a new idea, although it has only recently taken concrete, shape. "Conditions are unusually favourable just now to a reorganisation of the British shipping industry, for, in the first place, our greatest rival is not in a position to offer any effective opposition, while in addition shipowners are so prosperous that the financial side of the scheme referred to would offer little, if any difliculty. Moreover, the public might be counted upon' to support any project having for its object the strengthening <»f one of our greatest industries with a. view to maintaining its supremacy after the war is over. Finally, the volume of tonnage available for transport work just now falls so far below what is actually required that it has become ail absolute necessity to bring under one control ii vast bulk of shipping with a view to its more even ditributlon over the principal routes than is the case at present. If this matter be tackled on broad and comprehensive lines, remarkablo results should he achieved, both as regards efficiency and also from the .financial standpoint; and it may, therefore, well bo thai, we are on the verge of surprising developments in connection with the Empire's mercantile marine." N.Z. INSURANCE COMPAQ. By Telegraph.—l'rcss Association. Auckland, February 1. The balance-sheet of the New Zealand Insurance Company, Ltd., for the year ended November 30, 1915, is published, from which it fi'iniears that the net. income from premiums, interest, and rents amounted to £790,904, the a-vailablo balance on the; year's transactions, and including the balance brought forward from the previous year, being £122,200, from which has to be deducted the dividend of £22,500, paid in August last. The directors now recommend the placing of £4ff,000 to the reserve fund, from the balance of £59,700 the directors recommcnd tho payment of a dividend at tho rate of 3s. per share, absorbing £22,500, making 6s. per sharo for the year, leaving the net balance of £37,200 to be carried forward. The paid-tip capital, reserves, and undivided profit now amount to £1,077,200, after providing for the dividend recommended by the directors. WHEAT AND OATS. Christcliurch, February 1. The bulk nf :.he new season's wheat, which had hitherto changed hands, had gone to fill orders for fowl wheat, but the price of the latter has now declined 4d. to 6d. per bushel, compared with a fortnight ago, and better quality wheat is now olferipg, and the value for milling purposes is now being established. Buyers almost invariably state that their price on trucks is 55., and at this figure a number of sales have been made. A line of pearl has also been purchased at ss. Id., and a line of Tuscan more than average, quality at ss. lid. Tho price of average quality milling Tuscan and Hunters is 55., a penny more being paid for lines at handy stations. Fowl wheat is worth 4s. 9d. to 4s. lOd. at country stations. -For pearl reports are currcnt that recent sales have been made locally at ss. 3d, to ss. 4d., or that these prices wcro offered and re l tanuirlfl* toiling to establish the.

correctness of the report*. Very few oats die* oft'oring, and in view of the low quotations from the BlulT the inquiry Is not very keen, except for Rood Duns, which urc very scarce. FKOZEN MKAT. : Messrs. Gilbert Anderson and Co. (Mec-srs. Mellsop, Jiliotl, and Co.. Piilmerslon North, Jocal agentc) report on the frozeu meat market uiKlor date London, December 17, as follows:— Hoine-Krown meat is firm on account of moderate supplies. Beef has been quite light, and fini.»hcs citrons at about, Bd. PorU it? firm, but, veal is slow. Kuglish ewes have ri-sen tu a higher pri<te. Frozen t- —It is difficult to jrivc accurate Quot<\tioQs. as tho supply being exceedingly small prices vary with each dale. IS'cw Zealand ewes have changed hands at 64<1., Gid., and 6 3-Bd.. and secondary wethers 63d. .and 7d., but the cnuintitics havo been I J Jat.o csheep, to 3-Bd. dearer, holders havinp only their own interests to study. Frozen Lamb— There is a feeling that prices will be much dearer in the new year, and buyers would like to lay in good stocks, but Government regulation© do not permit of this to any extent. Tho chief demand is for C.F.M.C. 36-4211). lambs a,t C.M.C.'s being 7Ad., and all heavy lambs are wanted owin? to the scarcity of sheep, but there arc practically no 441b. lambs left. Beof.~Uelea.ses consist of cow principally, a few New Zealand ox fores and hinds fetching 5Jd. and 6Jd. respectively. Chilled beef is scarce and firm.