COMMERCIAL ITEMS

Dominion, Volume 11, Issue 64, 8 December 1917, Page 12

COMMERCIAL ITEMS

■ INVESTMENT SQAKES. Investment shares were quoted as follow in Wellington yesterday :- Buyers. Sellers. £ s. d. £s.a. National Bank 5 5 0 — Union Bank 5415 0 - National Mortgage 317 0 — River Plato 117 0 — Christchurch Gas (£5) ... — 6 2 6 Well. Gas (pref.) - 0 18 9 Gear Meat Co. (£4) — 5 0 0 Auckland Trams (ord;)-... 1 0 0 110 Ancliland Trams (pref.).:. 016 3 — Well. Woollen (ord.) 6 15 0 - - Well. Woollen (pref.) 4 2 0 - Waipa Oolliory — 018 3 Sharland and Co. (0rd.)... 17 0 — Ward and Co - 5 10 0 ■ ' GEAU KEAT COMPANY.

. The directors of the Gear' Meat Preaerv■ing and Freezing Compauy of New Zealand, Ltd., report for the year endofi Koveinber 30 la;St, as follows:—includiug the amount brought forward, and attor making allowance for depreciation and nayment of interim diviaend, there remains a balance of £72,409 ss. 3d., which tho directors recommend for appropriation as follows:—In payment of dividend of 10 per cent, for the year ended November 30 less interim dividend of 5 per cent, paid in June, £4600; in payment of dividend of 5 per cent, from profits earned by reserve funds, Ices 2i per cent, paid •in June. £2300; in payment ol special dividend of 5 per cent, as last year, £460U: appropriation towards liability for taxes, etc., in New Zealand and Great Britain, £35,000; to be carried, forward to next year's account, £25,909 sa. 3d. Crving to tho satisfactory results ol operations In connection with the company's insurance reserve, the directors recommend the payment of a- bonuß of 5 per cent, on tlio paid-up capital out cf that account.

Tho directors regret to record the death in April last of Mr. B. T. Badham, lor many years a painstaking and conscientious auditor of the company. "Unuer Clause 99 of the article» of association, the immediate filling of a vacancy is made mandatory upon the directors, who consequently, appointed Mr. 13. R/,Dymock to the .position. The retiring directors nrr. the ITon. Sir Francis Bell, K.C.Jt.G., K. 0., and Mr. David Anderson, who. being eligible, offer themselves for re-election.- The auditors, Messrs. E. W. Hunt and E. It.. Dymock, also offer themeclvcs lor rccleotion. ■' '

N.Z. LOAN AND MTVRCANTILE AGENCY CO.

The Now Zealand Loan and Mercantile Agency Co., Ltd., has received a cablegram from its London office intimating that tho company will hold its annual meeting in London on December 20. Alter carrying £25,000' to general reserve account, writing £30,000 off premises, crediting dividend equalisation reserve account, £15,000, appropriating £10,000 to the stall' bcnovolcnt fund, s.nd payment of interim dividend on preference and ordinary etoclt, the amount available in revenue account for the year ended June 30 1917 is £69 391 Is. M. Thu directors recommend payment of a final dividend of 21 per cent, on the preference stock, and a final dividend of 35 per cent., plus 1 per cent, bonus, making 7 per cent, for the 5 ear, on tho ordinary stock: both loss English income lax; leaving £7,111 16-. sd. to bo carried forward. The reserve fund row atands at £525,000. Customs duty collected at tho port or .Wellington- yesterday amounted ; to '£4639 19s. Id. FROZEN MEAT MARKET. ' Messrs. Gilbert, Anderson and 00. (Messrs. Melleop, Eliott nnd Co., Palmerston North, local agente) report" on the frozen meat

market under date London, August 3, as follows.—

Shipments throughout present Beason show a great falling off, and July figures in particular mean difficulty for the future. Fortunately, shipments are being continued of beef, both chilled and foreign, from tho U.S.A., and if tho figures could be obtained would probably compare favourably with tho South American beef that is available for civilian use. Tho demand for frozen lamb in normal times would now commence to vmno in view of the start of the Home-grown lamb and mutton season, but the cheapness of the Government-controlled colonial lambs and their light supplies will probably cause tho demand to be unabated. Market Prices for Weeks ending:Aug. 3, Aug. 4, Julyi.l, 1917. 1916. 1916. Home-grown— Beef, sides 13-15} 10-121 13-161 Mutton, wethers ... 133-16 101-13 u -vi . Mutton, owes 13 -14 9J-10J 12 .141 Tcge 13-J-17 IU-12J 143-17 If mbs 15JJ7J 12 44 i 6 ,. 1g Pork 135-14} 10-11 14J _ y eal 101-15 11-13 131-16 -Frozen— Mutton— N.Z.&Aus.wethors , 83 Bj-8} 8? £.Z. & Aus. ewes 85 85 85 B.A. wethers 10 95.9 in Lamb- * N.Z. and Aue 10 91 jn Til H Argentine, 01 fores — 8* lIS Argentine, ox hinds — 12* i« *Nomlnal. ■"* BANK OP ENGLAND RETURN. Außtralian-Ncw Zealand Cablo Aeaooiation (Eec. December 7, 8.5 p.m.). m. _ , , London, December 6. Tho Bank of England return isaued for Sunder- * Wcdnc£<lay ' December S,

IssrjE Depabtment Note Issue f74.160.000 Gov. debt... £ 11,015 000 Other securities 7,(34,000 ■ Gold 56,011.000 . iT4.460.000 ,■ «M6oTooo Banking Department. Proprietors , Q ov , Eecuri . T,T,', lta J ~ £U *®.«» ties ... £65913 000 Public de- other eecuri- * w,su,uro oZdV" 3W55,00 ° ties 9 " 9B '™ ReeuV 135,639 ' 000 NOt0 "" - - miiM and ottior bills •■• JMtm Coin 1.515.000 ■ ilfflWI&MO The loading items of the Bank of Bob-lendj-eturn afford the following compartThie week Le.at week Laefc year r^l1 0 . ■"' - f mm tamsm u £ wm'' w?'J , ~- 33.257.000 81,860,000 36,534.000 P,?hl| C n° Ule •» On iUlam 43m ™ 3T858M0 Public Deposits 36.4C8.000 41,528,000 68.717.000 Proportion"! mmW 122-713.000 108,946,000 I reserves to ..■ liabilities 18.74 lo.il ai.TO GOVERNMENT SECURITIES. for h Con° B ol o ß Wine /r e , tb f> Ktett quotations nnrltio. • nd c ° lomal Government Sβla™ week" comparison with th ™ «iUn»

MONEY MARKET. The Bank of England discount rate was on January 2, 1914, reduced from 5 to 4* per cent., on January 22 it was reduced to 1 per cent., and on January 28 J por cont. On July 30. the rate was rt'eed to 8 per cent, and on August 1 it tvaa further advanced to 10 per cent. Oα August 6 the rate wae reduced to 6 per α-nt, on August 7 it was iurther reduced to 5 per cent., on July 13, 1916, it was raised to 6 per oent., on January 12, 1917, it was reduced to 5J per cent., and on April 3 it was further reduced to 5 per coat. OPEN MAHKET BATES. The open market discount rate Ji,r three months' bills is 4} per cent., as compared with 4} per cent lust Week, and 6J per cent, laat year. Short loans are quoted at H j.er oent., as against 4J per oent. last week, and 5 per cont. last year. COLONIAL AND OTHEE PRODUOE. Butter.—Distribution has commenced, enabling many l'ctailers to have butter on the counters for the firet time for several weeks. All Eupplies were quickly sola at Zs. 6d. per lb. Wheat.—Quiet; a. few cargoes are offering. Flour—Firm, prices -unchanged. Oats and Peas.—Slosv of bale; prices unchanged. Beane.—Firm, on hardening markot. Sugar.—Unchanged. METAIi MABKETS. 1 Copper—£llo ss. per ton. Tin-Spot, £192 2s. 6d. per ton; throe months, £291-2s. 6d. Lead-Spot, £30 10a. per ton; turee months, £29 10a. Spelter—Spot, £54 per ton; three months, £50. Bar Silver-43'd. per oz. standard. Tin stocks, 20,610 tons on spot; 4183 tons afloat (estimated), '1500 tons; delherles, 1800 tons.

Stock TW» Last Week IVoek ii% Imperial Console i B - <*• £ *.<*. 6 „ War Loan £ «> ° 56 0 0 31 ..War Loan . J 3 . ] S ° E3 IT 6 4,, Vic. 1920 Jan.-July » ° J? W 6 1..V10.1921-6 Jan,July. °{ " «; W 0 WOO 6917 6 J1,,8.A. 1916 Jan,July S ' § $15 o J ,.S.A.1916Jau..July S 2 S ?? ,S ° A ..Q'l'd 1915-24 Jan.-Jly gn 2 „ jl }? R 3i,.Q'l'dl922.«Jan.-Jly | g J ■ ffi J? J 3* „ Tas. 1920 Jan-July 71 5 ft 72 10 0 5 ..Tas 1920-40Jan.-Jil, 64 0 0 65 J 6