COMMERCIAL ITEMS

Dominion, Volume 11, Issue 103, 24 January 1918, Page 8

COMMERCIAL ITEMS

INVESTMENT SHARES. Yesterday's quotations for investment shares were as follow:— Buyer». Sellers. £ s. d. £ s. d. Back N.Z. told) 12 3 6 - Bank N.Z. (new) 37 3 C - National Mortgage 3 18 0 — National Insurance ...... 2 7 6 — N.Z. Insurance 8 3 0 — S.B. Insurance 5 16 0 — Auckland Trams (0rd.)... 1 0 6 — . Huddart-Parker (ord.) . 112 6 1 13 3 Union Steam !pref.) 113 — Kaiapoi Woollen (0rd.)... 6 17 6 - v*ci!. Woollen <brd.) 6 15 0 - Well. Woollen (pref.) ..... 4 2 6 - Westport Coal 1 10 6 111 6 Waslpori-Riockton U 9 0 Waipa Colliory — o 18 3 N.Z. Paper Mills 0 18 9 - Sharland's (ord.) 17 6 — Customs duties collected at the port, of Wellington yesterday amounted to £3514 Is. Bd.

ANOTHER BANK ABSORBED. Yet iiuuiner suiau uaiiK— hub tiwo in Tasmaum-is to be absorfcpd, slates the •Sydney "Daily Telegraph." The National •bank of Tasmania is the only bank in Australasia with less than a million of deposits and advances. It was founded in 1865, and Uβ head office is , in Lauuceaton, Hβ paid-up capital beinij £195,250, representing £5 per share; its reserve funa is £83,000; and it has paid 7 pec cent, dividends for more than. 10 yearn past. Jlecently the shares have been ijuotcd at jiar, and the offer of £6 155., plus 7 per cent, per annum interest since November 30, is satisfactory from the shareholders' standpoint, as it means 36 per cent, premium to them. The Commercial Bank of Australia., which is the purchasing bank, has already eome seven branches and oiphb receiving offices in the island, and will now aoquire an. additional fifteen branches. According to tho last balancesheet, the National of Tasmania held deposit;, £722.169. and the totals to that document amounted to £1,030,816. Tho Commercial of Australia is a. much Ercater' bank, with over £8,000,C00 of deposits, and over £10.000,000 total a to the balancesheet. The net profits of the National in the past year were £19,441, -which would bo nearly equal to 10 per cent, on the capital, and over 7 per cent, on the purchase price.

MOVING CANADA'S CHOPS. Arrangements made ay Canadian linnhi for linancine thu movement of the oiops ■Ji' the Dominion are reported to be norkUig out satisfactorily, although statements had sained currency to the •.ft'ect •;hat as the bauks had advanced :nrgc sums to the Government for war pu:ni'H!» there might be a reßtriction which w.uld entail difficulty in marketing the prndjets of the west, ''Bank managers declared that not only was there ample pr-ivision for this jiurpose, but also to meet ail the requirements of trade. At pic-eut, it js stated, there is more money available in Canada for investment in farm mortgages than experienced financiers can i,nt out. In the prairie provinces there lias been a strong demand for cheaper money for tho agriculturist, to meet winoh a scheme of rural credits has been mil in( operation. As this is a new dovci'iumpnt in the Dominion, it ; e explained, !\r a, typical instance, that the Government of Saskatchewan is issuing 5 ner cent, binds to the value of £6M, - JOO, which farmers and others arc invited to purchase at par. The money thue raised is in be loaned to grain growers and other food producers at 6i por tent, on Ion,? term amortisation mortgagee. In Manitoba each borrower becomes a. shareholder in a. rural credit association, being'required to invest in the concern's stock 5 per cent, of the amount borrowed.

JAPAN'S INDUSTRIES. An indication of the industrial development which ha« occurred in Japan since tho commencement o£ 'he war is aft -rt'ed by official statistics relating to new company formations and their capitalisation. During the first three years of the «,n----fiict no fewer than 4987 new comi.a.aiee were established and tot in. operation, and the amount of capital involve;! was £19,763,616. Of the companies formed 4449, with £14,729,777, <wero classed as mc.:m!acturing; 247, with £290,556, were defined as agricultural; 196, with £4,379,090, au nuning; 64, with capital of £208,110, to oiw.Ato in marino products; and 31, having £146,083, in forestry.' In the niami aclnrine group £3,002,192 was obtained bv 476 chemical companies; £MBB 774 by «9 I; bre manufacturing, and £2,116.336 by 26a m al undertakings. Dew brewing c° n '»™ lcß to the number of 349 were started n, a rather limited total, capital of -Em*! 9, comestible companies accounted or £1180153, and machinery concerns tor £1,105,268.

FBOZEN MEAT MARKET. Messrß uuuurt, Anderson auU Do. (Mcssr6. AleUsop/tiliott.and Co., I'almerston North, local' agents), report on tlio Iroaen meal market, under date London. November 2, 1917, aa follows:— There is still a- complete absence of Aew Zealand lambs released to tho traoe. Suca South American, supplies as ara controlled by the Government, ™-> ™ e Patagonian, are ale? held up, tutArgcntine lambs are available. We strongly deprecate the action of the rcEponsublo authority who allows New Zealand interests thus to be jeopardised, especially a. it was distinctly laid down in tho purchase of New Zealand meat that after the immediate requirements of the Army were satis6ed the balance should be ieleased so that New Zealan.l trade should be maintained. ADVICE OF MEAT SHIPMENTS. Shipments during October las lar as advised). Frozen Frozen Frozen Chilled mutton, lamb. beef. beef. 46,200 52.500 140,000 20.C00 O«t 1916 366,144 2571386 «4,7?6 94,000 Market Prices for Weeks ending-.-Nov. 2, Nov. 3, Oct. 26. 1917. 1916. 1917. H 5f^r....:.!.. u-i2i tmm-m Mutton, wethers ... 13 1-12 3 Mutton, ewes 13 81-91 lii-li rPn™,. 10 11 -lij 10 &"■ :::::::; Mil 4 fc „.;::::::: ioj-m u-u was Frozen— Mutton— NZ. and Aus. wethers None 63 None N.Z. and Aus. eiree None 8 None S. American mutton 118 «3- 6 * u i> SMd Aue ' Now 91 None S. American »i ? $ 1« Pork, U.S.A 123 M°* "» ChilledArgentine ox forea • and hinds 91-M '»• 8 > 9 i JI J