COMMERCIAL ITEMS

Dominion, Volume 9, Issue 2745, 14 April 1916, Page 8

COMMERCIAL ITEMS

■".:. J; INVESTMENT. BfI'ABES. ' ; In'the' investment eliare market yesterday a sale of Kauri Timber (15a. paicy at Ice.. 4d. -was recorded. The Quotations were as under:— •• Buyers. . Seller;. .••> ' £ s.d. £ s.d. National Bank ....!........(. 5 2 6 — Hank N.Z. (£3 6a. Bd.) .... 10 12 0- — Well. Trust, lioan, Ltd. - ' ' Well.Dep. andMort. ...... — \ 0 9,0 Gisborno Gas .........' ;.. 112'- 6 — Wellington tias (£10) — -.«10 0 National Insurance ...; 2 11. 6 — ■ Standard Insurance ...... 116 6 t — UuddarUarker lord.)-... 12 0 7 SuddartrParker (pref.) .:. — 110 Union Steam, (ord.) ..;:..:.'., 1 10 0 — Union Steam (pref.) .-- 1 0 11 — Waipa Coal ' 0 18 9- . - .Westport-Stockton (pref.) 0 10 0 — Leyland-O'iinen 1 !l Golden Pay Cement .~ 110 '— CM. Banks'(ord.) ......... 1-2 6 - W.F.C.A. (£5)- .'. ..}..... i>-1Y- 0 - Customs'duty collected nt the port of Wellington' yesterday amounted to £2312 55.-W: ; , ; :.,:.:'i:;; .'•■■ •'." : ' COMPANJ.. .'REGISTERED. The "Mercantile Gazette," published yesterday,' records the of the following company":—" •Ohakunc Patriotic Co., litd., registered as a private company, April 11. Office: Awatea Street, Ohakunc. Capital, £10C0, divided into 200 shares of £5 each. Subscribers: ,J. Heald 32, G. Sargcant 24, J. H. Jt'Donald IS, W. J. Feltham'lß, E. A. Littlewood -IB (and. othcrs-19 in all). Objects: To promote the business of a public hall and ■ moving-picture theatre proprietor. :.' : - : N.Z. INVESTMENT'MORTGAGE. ' ' The report of the directors of the New Zealand . Investment, 'Mortgage, and Deposit Company, Ltd., for the- year- epdeit March 31; 1916, etates'that the net' profit on the year's business is £1767 9s. 5d., to which must bo - added, the siim of - £45. 2s. brought forward from last year, making a total of £1812 lis. sd. ." An interim dividend of 3 pea - cent., amounting • to ■ £733 18s. Id., was declared : and, paid -for the. half-year .ended September 30, 1915, leaving £1078 13s. 4d. to be dealt with. The directors recommend the payment of a further dividend of 3 per cent.-(making 6 per cent, for the .year), which will absorb £773 18s. .6d.; that £200 bo carried to the reserve -fund; and that the balance.of £IC4 14s. lCd. be carried forward. .During the lot- , tcr.end.of the financial year, a scat on the board became- vacant owing to tho • absence of Mr. F: G. Bolton from; the Dominion., The directors record their appreciation of Mr v Bolton's valuable services to the company, since' its inception. Owinz - to the proximity of, the annual meetin no new appointment ivas made, the.dire< toTs -preferring to leave it over to tl . annual'meeting. Mr. W. M. Muir retire this year from thcVboard in accordant •with tho articles of association, and, bein eligible, offers himself for ■re-election. WAIPA RAILWAY AND COLLIERIES. The' sixth ■ annual general meeting < , shareholders: of the Waipa Hallway an • Colliaries was held at the Chamber of Cor, merce,yesterday. Mr.'jW. M.• llannay/ tl ohairmau of'' directors; .■ The r port and balance-sheet'showed 7 a credit t profit and loss of. £6942; 4s.' 5d., to whic £2084 9s. 4d; carried■■•■ forward from la: year was added, 1 making £9026 135.. 9' From-this JBIBI6- 17si. 9d. was deducted-0 account of third year's dividend paid 1 proportion of the preference shares, lea ing for distribution £7209:165. This tho 1 directors recommended be allocated as fols lows:—Payment of the third year's divi- . dend on preference [.shares £390 9s. lid., .- payment of'"a' dividend of 6 per cent, on t 79,905 shares £4794 65./ total £5184 15s. lid., ' leaving a -balanco"'to- carry forward of '. £2025,05. Id. In moving the adoption of tho report • and balance-sheet, the chairman eaid the I capital' ;is practically all called up. and • ■total- liability, to creditors-Is only £1784. ' Railway,": rolling-stock,,-, machinery, build- ,'• 'ingß.V.eto.,-stand at-'£71,908, although the ' directors-bought'machinery at a cost of '■ £1900.and'jjaid:v£600.,for-land. Deposits, ■ cash.vin-bank,,and book debts amount to '£16.810; and as it'was .only-proposed to pay away £5815 "it would be seen that the financial position 'was extremely satisfactory. The .whole of-the preliminary expenses . have -now ■ been, written off. All claims due lo preference shares having been discharged the directors were able to recommend that a 6 per cent, dividend he now paid to all shareholders, tho sum of / £2025 being carried forward. Mr. Hannay'said ho spent 1 some time at the mine a few weeks ago, and found that the railway- line,'structures, rolling-stock, and mine plant'generally wero all in first-class condition.- ■-■ The -board-docs not propose to oxpend'any, largo'sum in dwelling-houses'.-on-'the land acquired as lone: as private enterprise meets the wants of the men. 'The board must, however, be in the position,that it can further build if necessity arises. /' -. , ~ , / The output, of coal for tho year was 99,000. tons,- being much greater than could have-been expected. During last winter on many weeks.22oo to 24C0 tons were sold weekly. There was, -of course, a considerable falling off in summer, but the output now'is about. 1600.tons a week. ■' Unfortunately, there are indications that

selling prices may slightly recede, end competition may be keener (owing to the advent of a third company in the Waikato). .-It is also almost certain that the company will have to meet increased ex- -. penditure in wages, material, and taxation. "While it is not, therefore, wise to forecast," enid Mr. Hauany, "I think that, with the quality of our coal, and tho energy of our agents,' we may reasonably expect to receive and hold a substantial sharo of the trade." Tho work of the B head office continues to be conducted in a | manner reflecting tho greatest credit on the secretary (Mr, Vickery) and his staff. Dr. 0. P. Knight seconded tho adoption c of the report, which was carried unani- t mously, aud a dividend of 6 per cent. ] declared. , Mr. Charles Stewart and Br. 0. P. Knight, tho retiring directors, were re- I elected. _■"■-,„,,' Messrs. VTatkine, Hull, and TVTicelcr ] were appointed auditors. LONDON WOOL SALE. By Telegraph-Press Association-Copyright : ; London. April 12. At the wool sales there wae wider com- ■ petition nnd a brisker sale. Tho advance I In merino was fully 5 per cent., and crossbreds were harder all round. Tho follow, ing were the prices realised for the fleece portion of the clips named:—Ngaputshi, top price, 17d.; average price, 16\d.; Ponerua, top, 171 d.; average, 175.; Tim, top, 18Jd.; average, 173 d.; Pourau, top, 18Jd-; average, 173 d.". Messrs. TV. and G. Turnbull and 00., Ltd., report having received the following cable message from London:—"Orossbreds. better descriptions unchanged; inferior, par. to halfpenny decline." The United Farmers' Co-operative Association, Ltd., have received the following cablegram from their London agents, uilder date April 12:—"At tho third series of wool sales prices of-fine, medium, and coarse orossbreds. arc unchanged, being same ae closing rates of previous sale. METAL 'MARKETS. By Telegraph—Press Association— Copyright London," April 12. Copper, on spot, £122 to £122 10s. per ton; forward delivery, £119 to £119 10s.; electrolytic, £135 to £137. Till, on spot, £198 to £198 10s. per ton; forward delivery, £197 to £197 10s. Pig-iron. i 6 quoted at 955. nominal: Lead, soft foreign, £34 10s. to £34 15s. per ton. Spelter, on spot, . £ICO per ton: forward delivery, £90. Silver—Bar silver is quoted at 29 3-Bd. per ounce standard. TALLOW.. London, April 12. At the tallow sales 1034 casks were offered 1 and 672 cold. ■ The quotations were: Mut- ' ton, line, 545. 6d.; medium, 48s. 6d. Beef, fine, 525. 6d.; medium, 475. [ '' -'■' WHEAT ' - " L (Eec. April 13, 11.55 p.m.), London, April 13. The Chicago wheat market is strong, owing to the adverse crop Advices. May options, 118J cents to 119?' cents; July, 116 r cents to 1174 cents; September, '114JT cents. I : AUSTRALIAN PEODUOE MARKETS. , .' (Bee. April '13, 10.5 p.m.) ' Sydney, April 13. <■ Oat 6, Taamanian Algerian, 2s. 6d. to Zs. 1 7d.; wjiite, 2s. lOd. to 3s. Barley, feeding, . 3s. 3d.; malting,. 3s. 9d. Maize, local, 4s. ■ 3d. to 4s. 4d.;' £outh African,- 4s. 7d; -to 3 4s. Bd. 'Potatoes, Tasmanian,. £6 10s. to s £8. Onions,-£5 10s. r Adelaide, April 13) Wheat, ss. 3d.:'flour, £10 155.; bran, llid.; : - pollard, Is. lid. to Is. Zld.; oats, 2s. to b Zs. Id. ■ HIDES. ' I (Eec. April 13, 11.55 p.m.) i- . Melbourne,; April 13. i- The hides market reports small supb plies, active demand, with prices firm and ; unchanged.