COMMERCIAL ITEMS

Dominion, Volume 10, Issue 2917, 1 November 1916, Page 8

COMMERCIAL ITEMS

v INVESTMENT SHARES. •Tosterdaj-'s quotations lor investment shares were as under';— Buyers. . Sellers. £ s. d. £ s. d. Bank N.Z. (£S 15s. 44.) ... 17 6 0 - Union Bank — ... 54 0 0 Equitable Building. — . 915 0 . N.Z. and B. Plate , 219 Well. Invest. T. and A.— 0 10 9 ' Woll. Trust Loan, Ltd. — 619 0 • . Well. Gas (£10) - 15 2 0 Well. Qai (prof.) — . 0 19 6 .National Insurance 216 0 — N.Z. ■ Refrigerating Co. r: (£io) ; - 1910 o Gear Meat (£1) 4 10 0 - Well. Meat Export (£2 ' 12a. 6d.) - . ,330 Well. Meat Export (£1 ~.IW - - 2 10 Union Steam (pref.) 113 — Well. Woollen Cord.) ' — 6 0 0 Well. Woollon (pref.) 3 15 0 — 'Ceylitqd.-O'Brien — 13 6 ■N.Z. Portland Cement ... — 011 6 • Golden Bay Cement — 110 -Cnßtoma duties• collcoted at the port of Wellington yesterday amounted to £7937 13s. 6d. • ORAPERY AND CENERAL IMPORTINC • r COMPANY. ' ANNUAL MEETING.. ■The annual meeting of the Drapery and General Importing Company of Now Zea- ■ LiikL was held at Duncdin on Thursday -Jast. The chairman of directors (Mr. E. I.' Hallenstcin) presided over a good attend&nce. In moving tho adoption of the report iind balance-sheet. Mr. Hallcnstein said "> . that the employees had oontinued to ro-' •epond' freely to the call of duty: Twenty ihad been accepted for active service dur(intr .the year, soveral of theso bing mar.lid men, while a number of others had volunteered but had been refused. The irail of honour now contained 43 names, ■Jind but very few ■ eligible single men :wero left on the stall. They had unfor'tunaitcly to record that live employees 'had lost their lives.- . A number of others had been wounded, some of them sevore- - Vly; ho trusted that none would be per.ittanently incapaoitatcd. Last year £1000 -was Allocated out of the profits for contribution to patriotio funds, aud this sum, was divided by tho directors among, tho Various funds in Dunedin, Ohristchurcli, And Wellington. -They . were not asking [the shareholders to set aside'any speoial for patriotic purposes on this oc-'ca-sion. but they would continue to con--Itributo liberally to the funds as in the ,;past. All - employees accepted for active, service had been placed on half pay for (six months, from-date of'enlistment. This jraotico would bo continued at any rato ■until compulsion was brought into force, "when the directors would reconsider the. position. The not proilts, amounting .to .£3'1.645. were £2350 hotter than last year, ■and £395 ahead of 1914, the year before "the,war. Adding to tho net'profit tho 'sum of. £15,769 brought forward, and deducting the interim dividend on preference shares paid in May, they had an m-vailabl-o balance of £36,664 at their, disposal. Tho ,directors recommended parireent of dividends of 6 per cent, on preference shores and 7 per cent, on ordinary shares, payment of a bonus of 2$ per cent, to ordinary shareholders on their purchases, tho addition of £5000 to ili'e rererve fund, which would then Etan<i at £57,000. and that the balanoe of £19,737, Jess the amount of tho bonus, be carried forward. It spoke volumes for the zeal and attention of their managers and their 6tnffß that tliey had in theso times been, able so substantially to increase the turnover as to . counteract this heavy expenditure and' produce the. results, they .bad

before them. Ha might fairly claim flint it was aiso proof Ihut they had retained and extended the confidcnco reposed in tho company by its clicnts end bvHho public generally. • The motion was seconded by Mr. T. i Unalmor, who said it was very gratifying to shareholders to sec the profits como up to and even exceed the normal' prior to 1915. Ho was pleased from a shareholder's pointy of view to eco the wise pro* vision tho directors were making in strengthening their reserves when they lwid the opportunity of doing so. It was , a policy that would rccommejid itself i to the -shareholders. The motion was carried unanimously. On the motion of Mr. C. il'George, I seconded by Captain Sundstvum. Messrs. J3. I. Hallonstoin and I. S. do Beer were reappointed director*. Mr. J. 8. M'lnnos was reappointed auditor at tl!o same rej munoration as last year. I Mr. J. H. • Nimmo moved a hearty vote ! of thanks to tho directors, managers, and . fltaff for the care siown during the year, t freeds 6poko bettor than words, and Mr. I HaUenstein had shown that the business I was better than either last year or the I -preceding, year. I ! WHOLESALE PRODUCE PIUCBS. Messrs. Laory and Co., Ltd., Allen Street, report wholesale prices as follow Fowl's wheat, prime, ss. 6d. to ss. Bd. per bushel; fowl's barley, 3s. lOd. per bushel: Australian Cape barley, 4s. 6cL per bushel; Ji.Z. Cape barley. 3s. lOcL per bushel; barley seconds. 3s. Bd. per bushel; partridge peas, 6s. 6d. per bushel; maizo feed. ss. per bushel; chaff, oatsheaf, £6 ss. per ton; hay, clover, £5 per ton; flour in sacks, £13 15s. per ton; oatmeal, 7'e £21, 25's £19 per ton; pollard. £7 10s., £7 15s. per ton; bran, £4 15a; to £5 per ton; bacon (all best factory), sides 10Jd. per lb., roile llsd per lb., hams Is. per lb., shoulders 9Jd: per lb.; cheese (factory), medium per lb.; cheese (factory), loaf size, lid. per lb.; linseed nuts, 12s. 6d. per cwt.; linseed ground cake, 12s. 6d. owt.; oat pollard, £6 10b. per ton; Victorian Brown Spanish onions, £8 to £8 10s.; potatoes, white skinned table, £11 10s. to £11 15s. per ton; pig meal,'. £5 per ton. i All poultry in very good demand. Hens, ss. 6d. to 7s. per pair; cockerels, 6s. 6d.'to 03. per pair; ducks (Pekin and Aylesbury), 9s. to 10s.; ducks (Indian Runners), ss. 6d. to 6s. 6d.; turkeys (gobblers), Is. Id. to Is. 2d. per lb.; turkeys (hens), lid. to Is. per. lb.; butter (prime bulk), Is. per lb.; eggs, fresh, Is. 4d. per dozen. SOUTHERN MARKETS. By Telegraph—Press Association. Chrlstchurch. October 31. Thero are no changes to noto in tho grain market, -wheat being iirm at late rates. Potatoes are In short supply, and £8 k lss. to £9 is offered at country statiofls. N.Z. AND AUSTRALIAN" LAND 00. Australian-New Zealand Cable Association.London, October 30. The New Zealand and Australian Land Company reportß that its operations have been seriously affected by (bought. Thero have been heavy losses of sheep and cattle, specially in Queensland, where the flocks have been reduced by 40 per cent. The company hae therefore taken £82.000 from the Contingency Fund, the object of whieh is to meet the exceptional losses due to periodical droughts. The com- • pony's reserves were largely invested in American securities, and to meet the national requirements most of these were sold at satisfactory prices, and. the proceeds were largely; invested in Treasury bills.