COMMERCIAL ITEMS

Dominion, Volume 11, Issue 93, 12 January 1918, Page 10

COMMERCIAL ITEMS

INVESTMENT SHARES Yesterday's quotations lot investment shares were as follow:— • Buyers. Sellers. £ s. d. £ s. d. National Bank — 5 4 6 Bank N.Z. (old) 12 2 0 Bank N.Z. (new) 17 0 0 — National Mortgage 3 17 6 — N.Z. and River Plate ... 1 17 6 — H.B, lusurauce 5 14 0' — Auckland Tramß (0rd.)... 10 3 — Westport Goal 19 6 — Wcstport-Stockton 0 8 9 — Waipa Colliery — 018 0 Taringamutu Totara ... — 15 0 Well. Opera House (pref.) — 6 0 (I IV.F.C.A. (£5) 6 5 0 -

WELLINGTON TRUST, L&YN COMPANY. The report of the directors of the Wellington Loan, and Investment Co. for the year ended December 31. 1917, draws attention to "the heavy increase of taxation, which amounts on the year to £2975 os. 3d., owing to the war." The directors place to credit of profit and loss on the year's working (after allowing for £507 6s. fid. written off proper ties, together with the amount of £3886 Bs. 9d. brought forward from the previous year) £13,261 Bs. 9d., from which £5625 has been paid as an interim dividend at tho rate of 4!, per cent for the half-year ended June 30, 1917. The directors recommend that a further dividend of £3750 be declared on the paid-up capital at the rate of 3 per cjnt, for the half-year ended December 31, 1917 (making 7J per cent, for the year), leaving the sum of £3886 Bs. 9d. to be carried forward. The retiring directors, Messrs, James Lockio and Walter Scott Reid, offer themselves for re-election. Messrs. C. P. Powles and tfrnest W. Hunt, auditors, offer themselves for re-election. EQUITABLE BUILDING COMPANY. Tho balance-sheet of the Equltablo Building and Investment Company of Wellington, Limited, for the year ended December 31, 1917, has been circulated. The directors in their report state that it will be noted in the profit and loss account that, including the amount carried forward from last year, the profit for 1917 amounted to £9566 lis. 4d. Of this an interim dividend absorbing £5000 was paid in July last, and £1000 placed to reserve fund. This ieaveß £5566 lis. 4d, for appropriation, which the directors recommend should be allocated as fol-lows-.—To payment of further dividend of ss. per share £3000, and to carry forward £2566 lis. 4d. In {September last, the board subscribed the further sum of £5000 to the New Zealand War Loan. The directors regret to have to record the death of Mr. D. Anderson, who occupied

a seat on the board for about 32 years, lie always took a deep interest in the company's affairs, and his loss.' 8 , s f'' er /i m l'elt. The vacancy has been lillcd by tho appointment of Mr. A. D. Crawford, of Wellington. Mr. Leonard Stos'o js the retiring director, and, being eligible, oilers himself for ro-elcctioJi. i' c t'iriiiii dU rectors orp Jlessrß. K Bucholz and ft. S. Wheeler, who offer themselves for reelection. Customs duties collected at port of Wellingtou yesterday amounted lo £9<,63 17s. Bd. . BANK OF ENGLAND RETURN. Australian-New Zealand Cable Association, (lice. January 11, 10 p.m.) London, January 10. The Bank of England return issued for tlio we el: ended Wednesday, Januaiy 9, is as under:— Issrn Department. Koto I c sue £76,358,000 Gov. debt... £11,015,000 Other securities 7.434,000 Cold 57.D09.000 jt76.335.000 4:76,353,000 Basking Department. proprietors' Gov. securicapital ...i11,553,000 ties ... £56,863.000 Public do- Other secun--1 posits ... 37,599,000 ties 00.661.000 °PmHs°" ... 123.531.000 Notes 50,655,000 Best, 7-Say and other ' bills ... 3,360.000 Coin 1.171.000 £179,355,000 i173.355.C00 The leading items of tho Bank of England return afford the following comparison This week LastweokLastyear £ £ £ Bullion 57.E09.000 68,013.000 51.U15.000 Reserve - 31,826,000 31.058.000 31.65)3.000 Nolo Circulation J5.703.000 4M31.0T 39 017.000 Public Deposits 37.509.000 3-2.075.000 49-520.000 Other Deposits 123.531.000 158,411.000 130,216,000 Proportion of reserves to liabilities 19.71 16.30 19-41 GOVERNMENT SECURITIES. The following are the latest quotations for Consols and Colonial Government Securities in comparison with those ruling last week:—

MONEY MARKET'

Tho Bank of England discount rate was on January 2, 1914, reduced from 5 to 4* per cent., on January 22 it was reduced to 4 per ceut., and on January 23 to 3 per cent. On July 30 tho rate was ra'sed to, 4 per cent., on July 31 it was raised to 8 per cent., and on August 1 it was further advanced to 10 per cent. On August 6 the rate was reduced to 6 per cent., on August 7 it was further reduced to 5 per cent., on July 13, 1916, it was raised to 6 per cent., on January 12, 1917, it was reduced to 5i per cent,, and on April 5 'it waß further reduced to 5 per cent. OPEN MAEKET RATES. The open market discount rate for three months' bills iB 4 per cent., as compared with 4 per cent, last week, and 5 per cent, last year. Short loans are quoted at 3J per cent., as against 3J per ceut. last week, and 43 per cent, last year.

COLONIAL AND OTHER PRODUCE. Butter and Margarine.—The distribution is being rapidly absorbed. Oheese.—The Food Controller will distribute 50 per cent, of the January applications for cheese next week. Wheat.—Cargoes and parcels are not offering. The Food Controller released a small quantity on spot, aud it sold quickly at late rates. Flour—Unchanged; the demand exceeds tho supply. Oats, Peas and Beans.—Firm, at full prices. Sugar.—Unchanged.

THE METAL MARKERS. Till.—Spot, .£298 10s.; three months, £292 OS. Bar Silver,-45Jd. per or.. standard. Other metals are unchanged. AUSTRALIAN PRODUCE MARKET. By Telegraph-Press Association-Copyright Melbourne January 11. Barley, Chevalier, ss. to os. 2d. per bushel; Cape, 3s. 4d. to 3s. 511. OiUSj 111 lII* ing, Algerian, 2s. 51d. lo 2s. 6Jd.: leed, 2s. Id. to 2s. sd. Potatoes, £7 to £7 10s. per ton. Onions, £7 to £7 10s.

. This Last Stock Week Week . , „ , £ 6. d. £ g, (1, 2j% Imperial Consols 55 a o 65 5 0 5 „ War Loan 93 15 0 03 ]5 0 3JWar Loan 86 2 6 S5 10 0 -"4 ,, N.S.W.1933 Jan-Julj 81 6 0 31 5 0 3i,, 2J.S.W.lM0-MAIr.-Sp 100 0 0 !» 15 0 oJ„N.S.W.liarlyCurr. 69 15 0 69 5 0 3 „ N.S.W.1925 Apl.-Oct 7010 0 69 15 0 4 „ Vic. 1920 Jail.-July C6 0 0 05 0 0 3i „ Vie. 1921-6 Jan.-July silO 0 81 2 6 34 „ Vic. 1S20-1949 70 0 0 79 2 6 3 „ Vic. 1929-49 Jan.-Jly 62 0 0 61 7 6 3j „6.A. 1916 Jan.-July 7110 0 7110 0 3 „ S.A. 1916 Jau.-July 66 10 0 56 0 0 4 „ Ci'l'd 1916-24Jan.-Jly 10 0 0 69 5 0 3i „ QT<11922-47 Jan.-Jly S7 10 0 86 10 0 1 „ Q'l'd 1922-47 Jan.-Jlj 61 5 0 61 12 6 4 ..N.Z.1929 JIay-Nov. 85 10 0 S3 10 0 3J„N.Z.1912-« Jan.-Jly 72 0 0 72 0 0 3 „ N-Z. 1920 April-Oct. 63 5 0 63 5 O JJ„ W.A. 1915-35 My-Nv 7312 6 73 0 0 J „W.A. 1915-35 My-Nov 63 6 0 69 0 0 ih „ Tas. 1920 Jan-July 71 10 0 71 0 0 J „ Tas 1920-40 Jan.-Julj 61 0 0 63 17 6