COMMERCIAL ITEMS

Dominion, Volume 10, Issue 3094, 26 May 1917, Page 10

COMMERCIAL ITEMS

INVESTMENT SHARES Yesterday's quotations for investment shores were as follow:— Buyers. Sellers. £ s. d. £ a. d. Rank N.Z. (£6 lis. 4d.) .. 17 10 0 - N.Z. and Bivcr Plate ... — 118 6 Well.'Gas l£10) - 14 2 6 S. British Insurance 5 15 6 — Union Steam (ord.) 2 6 9 2 7 9 Union Steam (pref.) — 113 Huddart-Parker (ord.) ... 1 8 3 1 8 10 Kaiapoi Woollen (ord.) . 6 15 0 — Waipa Coal — 019 0 Westport Coal 1 8 J 19 0 WestportStockton (ord.) — 0 7 5 WestportrStocltton (pref.) 0 11 3 — Opera House Well - 4 0 0 At the t\ventj-'fourth annual meeting of the Excess Insurance Co., Ltd., of London, held on February 19, 1917, at 3 and 4 Hoyal Exchange Building, London, E.G., the directors declared a dividend of 15 per cent, and a bonus of 5 per cent., making 20 per cent, for the . year. The premium income for 1916 amounted to £1,739,966, of which £969,477 was carried forward to 1917. | The total assets of the company now stand I at. £1,532,862. N.Z. CONSOLIDATED DENTAL CO., LTD. The nineteenth annual meeting of tho New Zealand Consolidated Dental Co., Ltd., was held on Thursday evening, the Hon. J. G. W. Aitken, chairman of directors, presiding. Tho annual report disclosed a successful year. After payment of working expenses, due. provision, for. all bad and doubtful debts, writing down promises £250. and fixtures and fittings £208 17s. 4d„ tho not profit on the year s business was £3774 2a. lid., which, with the addition of £111 19s. 3d. brought forward from last year, makes a total of £4886 2s. 2d. This amount it was decided to apply as follows:—To payment of dividend of. 8 per cent., £2354 9s. 7d.; 5 per "cent, bonus to shareholders on their purchases, £705 18s. lid.; reserve account (making same £7250), £600; carry forward to next year, £1224 13s. Bd. During tho year £1456 was invested in New Zealand Government War Bonds and War Loan Certificates. During the year, also. Mr. J. S. Macarthur was added to the board as managing director, and Mr. G. It. Macgregor appointed secretary. The retiring dkctcor, Dr. W. Pell, was re-elected, as also were the retiring auditors at Auckland, Ohristchurch, Duncdin, and Weliugton.

N.Z. LOAN AND MERCANTILE. < Tho New Zealand Loan and Mercantile Agency Company, Ltd., has received cable advice from the head office in London that an interim dividend at the rate of V,- per cent, on account of the year ending June 30 next has been deolored upon tho five per cent, cumulative preference stock and ordinary stock of the company. Customs duties, collected at. the port of Wellington yesterday amounted"to £3867 2s. sd. N.Z. PAPER MILLS. By Telegraph.—Press Association. Dunedin, May 25. At the annual meeting of the New Zealand Paper Mills tho report, providing a dividend of 3 per cent, on the half-year, making 6 per cent, for tho year, was adopted. Mr. f. 8. Cullins was re-elected a director. \ ./ VICTORIAN PRODUCE. \ By Telegraph-Press Association-Copyright Melbourne, May 24. Barley, Chevalier, 4s. 3d. to 4s. AA. per bushel; Cape. 2s. lOd. to 3s. Maize, 3s. 6d. to 3s. 7d. Oats, milling, 2s. to 2s. 6d.; feeding. 2s. Id. to 2s. 2Jd. Potatoes, X 3 to £4 ss. per, ton. Onions, £4 10s. per ton. FIXED PRODUCE PRICES. Sydney, May 25. New price's have been fixed for flour. £11: bran, £4; pollard, £5 10s., cash, delivered on rail. BANK OF ENGLAND RETURN. (Rcc. May 25, 8.55 p.m.) London, May 24. Tho Bank of England return issued for the week ended Wednesday, 'May 23, is as under:— v Issue Depautuext. Note Issue £70,910,000 Gov. debt... £11,015,000 Other securities 7.434.000 Gold 52,521.000 .570.970.000 £70,970,000 Banking. Department. Pibpvietovs' Gov.secuvic&pital £14.553,000 ties £45,044,000 Public de- Otbcrsecuriposits ...■ 47,120,000 tieß 116,611,000 Other deposits ... 131.604,000 Notes 32,074.000 Rest, 7-day and other bills .... 3.208.000 Coin 2.756.000 £196,485,000 £196,485,000 The leading items of the Bank of England return afford the following comparison ■.— / This week Last week Lnstyear Bullion 52,696.000 52,521.000 68.680.000 Beservo - 34.830.000 34.776,000 43.739.000 Noto Circulation 58.856.000 38,714,000 34.743.000 Public Deposits 47,120,000 52,096.000 54.251,000 Other Deposits 131,604,000 117.226.000 81,405.000 Proportion of reserves to liabilities 19.43 20.43 3-2.24 GOVERNMENT SECURITIES. The following are the latest quotations for Consols and Colonial Government Securities in comparison with those ruling last week:— Stock -P'? .S""' »eek Week 2i% Imperial Consols L f„ ''; £ l ,l \s VwftiiS? " °° « ? ° 3 "War Loan ' J1 7 6 Si 10 ° % 10 5 2 S „ u Ji„N.5.W.1930-50Hr.-Sp 5S ? " 97 " 6 3j„N.S.W. Early Curr. 70 7 b 11 n n 3 „N.5.W.1925Ap1.-Oct V 0 5 0 70 •> B 4 „ Vic. 1920 Jan.-July 05 2 I J J 34 „ Vie. 1921-6 Jau.-Juiy B5 2 B ails 11 31 •„ Vic. 1920-1949 ' 70 lu 0 ?S 5 X 3 „ Vic. 1929-49 Jan.-Jly 63 a 6 62 2 6 31 „B.A. 1916 Jan.-July 7-2 <2 6 7115 u 3 „ B.A. 1916 Jon.-July 58 5 0 18 0 (1 4 „QTd 1915-24 Jan.-Jly 91 5 0 91 S II 3J „ QTdl922-47 Jan.-Jly 87 15 0 87 15 U 3 „ CJTd 1922-47 Jan.-Jly 63 2 6 63 2 6 4 „ N.Z. 1929 May-Nov. 85 7 6 85 7 6 31., N.Z. 1912-40 Jan.-Jly 73 17 6 73 10 0 3 „ N.Z. 1920 April-Ocl. 63 10 0 63 7 6 31 „W.A. 1515-35 My-Nv 73 0 0 13 II II 3 „ W.A. 1915-35 My-Nor B'J 2 6 68 10 0 31 „Tas. 1920 Jan-July 72 u u 72 15 0 3 ~ Tas 1920-40 Jau.-.lnb 61 0 n 64 0 0 MONEY MARKET. The Bank of England discount rate w an on January 2, 1914, reduced from 5 to 41 per cent;, on January 22 it was reduced to 4 per cent., and on January 23 3 tier cent. On July 30 tho rate was raised to 4 per cent., and on July 31 it was raised to 8 per cent., ;ind on August 1 it was fartier advanced to 10 per cent. On Aueust 6 tho rate was reduced to 6 per oent.. on [ August 7 it .was further reduced to 5 j>cr

| cent., on July 13. 1916. it was raised to 6 per cent., on January 12, 1917, it was reduced to 5J per cent., and on April 5 it was further reduced to 5 per cent. OPEN MARKET KATES. The open market discount rate for three months' bill is 43 per cent., as compared with 43 per cent, last week, and 4 9-16 per cent, last year. Short loans are quoted at 4 3-8 per cent., as against 4 3-8 per ceut. last week and 4 per cent, last year. COLONIAL AND OTHER PRODUCE. Wheat.—Prices fully maintained. Flour.—Firm; Australian patents sold at 78s. ex quay. Oats.—Dull of sale; Tasmanian. ex quay, 68s. 6d. Peas and Beans—Quiet. THE METAL MARKETS. Copper—Spot. £130 ss. per ton: three months, £129 155.; electrolytic, £140. Tin—Spot. £255 10s. per ton; three months, £253 7s. 6d. Lead.-Spot, £30 10s.; three months, £29 10s. Spelter.—Spot, £54 per ton; three months, £50. Bar Silver.—37J per ounce standard; fine, 405 d. per ounce.