COMMERCIAL ITEMS

Dominion, Volume 9, Issue 2876, 14 September 1916, Page 8

COMMERCIAL ITEMS

INVESTMENT SHAB.ES. Yesterday's quotation- for investment "shares wero as follojv:— Buyers. Sellers., f s. d. £'s. u. National Bank — 5 8 0 Barak N.Z. (£3 6s. Bd.) ... 11 4 6 11 7 0 Bank N.Z. (£6 15a. 4d.) .. 17 6 6 — N.Z. and Elver Plate .... 2 0 0 t- . Ohch. Gas (£5) 6 15 0 - Napier Gas (£10) 15 10 0 •- ; , Well.- Gas . (£10) 1417 6 - N.Z. Insurance . '....'... 6 5 0 — Gear Meat (£4) 17 10 0 - Gear.Meat (£1) .: 410 0 — fWell. Meat Export (£4) - 52 0 lluddaj-t-Parker (ord.) 17 0 — Union Steam (ord.) 2 2 0 2,2 3 •HVcH'ton Woollen (ord.) " — 6 0 0 Taupiri Coal '— 013 0 Westport Ckial 19 9 110 3 Ward and Co; 5 16 0 - N.Z. Consol. Dental ... 1 2 6 — . ' N.Z. Drug 2 7 3 tN.Z. Portland Cement .. - 012 0 Sharland (ord.) 16 6 — Sharland (prcf.) 16 6 — , tEx div. Customs duties collected' at the port of Wellington yesterday amounted to £3734 10s. Id. LONDON WOOL SALES. Australian-New Zealand Cable Association, (Itcc. September 13, 5.40 p.m.) London, September 12. At the wool sales a miscellaneous catalogue was .'offered to spirited cm. *tition. All combing wools sold at Tate Tatos; faulty and burry'w'ero somewhat slow. There is much inquiry for colonial crossbreds by Yorkshire manufacturers, who fear that ■ tho Government may. compel them to take some of the English clip at tho Government price. Tho following prices were realised for fleece portions of New Zealand clips named:—Kumukumu, top 20jd„ average 19Jd;; Wharamu, 21Jd., 191 d. Tho list for the seventh series closes on Ootober 9, and will not be limited. Tho last series of the year has been filed for December 5, limit late. GOLDEN BAY CEMENT WORKS ANNUAL MEETING. ' Tho annual meeting of tho Golden Bay Cement Works, .Ltd., was held in- tho Chamber of Commerce yesterday. Dr., o. •■ Prcndcrgaßt Knight, chairman of directors, presided. ■ Tho annual report and balance-sheet were taken as read, in .moving their adoption the chairman said tho company had been through a very satisfactory year. Their brand of cement had •steadily grown in favour, and notwithstanding that the third year of tho .great war had been entered into, there waa a good demand for tho, company's product. To attain tho good results- of this year' tho board had had considerable anxiety as to supplies of materials necessary for manufacture. Consequently [ they had been compelled to inoreaso all their stocks at high prices, or wiuch a speedy end to the war would probably lower the value.. However, prudenco required that they should hav'o tho goods rather than be without them. Shareholders, would notice that this item stood in tho balance-sheet at £16,023 this year as against £10,202 daet year. Machinery such as theirs was always deteriorating, and from its nature heavy 'writings off wero necessary. This year they had writton off £2500, as against. £2300 last year. This year they hod carried forward £5744 9s. 6d., as against £3334 19s. sd. last year. Unfortunately tho method of taxation adopted .by the National Government bears hardly on newly-established undertakings such as theirs, whioh had become pronfon&kors to a considerable extent sinco tho war broke out, though their profit was no more than could reasonably bo expected from the natural expansion of their business. Still, they showed more : profit now than they had made in the year before the war broke out. Shareholders must console themselves that they aro contributing to tho war funds. No doubt the money must bo had.'. There were several unsettling phenomena in the cement world which had induced the directors to retain in hand money which, had the outlook been more favourable, they would lave gladly distributed amongst tho shareholders. The result meant greater strength to the company. Dr. Knight a'dded that the company owed a great deal to the enthusiasm and loyalty of the staff, who from the works manager and chemist to the men had all worked well during the year, and deserved the thanks of the shareholders.

The report was adopted -without discussion. .

Captain Charles M'Arthur and Mr. Ohorles Stewart -were re-elected directors, and Messrs. E. Bucholz and D. It. Menzies .-were reappointed auditors (at a remuneration of twenty-five guineas each). At a subsequent meeting ol the directors Captain Ohas. M'Arthiur was appointed chairman for the' ending year.