COMMERCIAL ITEMS

Dominion, Volume 11, Issue 100, 21 January 1918, Page 8

COMMERCIAL ITEMS

INVESTMENT SHAKES Saturday's quotations for investment shares were ae , follow:— Buyers Sellers, i) e. d. £ s. d. Bank N.Z. (old) 12 3 0 jiank N.Z. (new) 17 J 0 - national Mortgage 3 18 0 — K.Z.Ii. afld Here, (ord.) . — 83 0 0 Wellington Investment... — 011 0 Well. Deposit 0 6 9 — Well. Gas (ord.) - 1215 0 Well. Gas (-pref.) - 0 18 6 National Insurance 2 19 0 — N.Z. Insurance 8 2 6 Goar Heat (£1) 4 15 0 - Union Steam (pref.) 110 - Kaiapoi Woollen (0rd.)... 6 17 6 - Well. Woollen (ord.) 6 15 0 — Well. Woollen (pref.) 4 2 0 Hikurangi Coal — 0 11 0 Wcstpon Coal 1 10 0 - Weslport-Stockton U 9 0 Waipa. Colliery — 018 0 Manning and Co 3 3 0 — Uharlaiid's (ord.) 17 6 W.F.C.A. (£5) :.... 6 5 0 Custom duties collected at the port of Wellington on Saturday amounted to £3042 3s. sd. THE METAL MARKETS. Tin.—Spot, £295 is.; three months, £291. Bar silver, 44Jd. tier ounce standard. Other metals unchanged.

ENEMY BANKS IN BRITAIN. It was no easy task that wae entrusted to the British controller of epei\y banks in his commission to \rnd up those institutions which, 'prior to the war, were established in London. Still, the second report by Sir William Plender a eumma-rj of which has been cabled, Indicates that, notwithstanding. difficulties which.appearod well nigh insurmountable, the undertaking of liquidation has been materially advanced during the year. Liabilities of the five banks concerned—three German and two Austrian—now amount to £11,186,000. When the controller took over the affairs of these institutions their aggregate liabilities amounted to £28.481,000, so that in that item there has since been effected a reduction of £17,293,000. The latest review of the positioii states that the German banks have assote estimated to bo £2,321.000 in excess of liabilities, lvhilst in the pa.se of tho Austrian banks there is a deficiency of £1,091,000. The original estimate of approximate assets was £23.373,500. the • statement then prepared disclosing an apparont deficit of £5,107,400. but when tho first balance-shoot, was struck tho accounts revealed an unexpected surnl«s of £1.934000. Tho two Austrian banks had then, as they have now, a deficit. Liabilities to British. Allied, or noutraJ subjects, 'paid or otherwise discharged, were shown in the first statement at £27,600,000, whilst the vn.luo of seouritjen disclosed was nboni £7.500.000: assets, inclusive of cash, interest and dividends ef'llw.ted, standing at £23.460.585. The accommodation granted by the Bank of England to the enemy banks, in order to enable them to pay their acceptances, hod be»n reduced- from £11.535.037 to £4,810,823. Tho securities remaining in the custody of tho bankfi on B»ntpmber id. 1916. were valued at about . r Sii.OOO.MO. Unrealised afsHs now to he rtisnoF/id of by the controller amonnt to £4.891.000. hut., us Sir William Plender oxnln.lns, finality to tho liquidation cannot mi be rpach"d. as most of that residua rannot be collected during the enrrency tho war.