COMMERCIAL ITEMS

Dominion, Volume 12, Issue 262, 1 August 1919, Page 10

COMMERCIAL ITEMS

'■••• ■-■ INVESTMENT SHARES. Xesterday.'is quotations for investment shares were as folow:— • Buyers. Sellers. £ s. a. £ b. d. National Bank :. - <• 10 ° uanii H.A. WO Us. Id.) ....1810 0 - "Union Jiunk «j « .0 . - National Insurance 10 0 .-• N.Z. Insurance (£1); '96 111 0 Kouth British Insurance fl 1.6 ' — is.'A. Keirigcratinp: 3 12 l> Jlcafimport U3 12s. 6d.) - . ' (cum- dlv.) J 8 I) — _ HuddarU'arker (ord.) ... 2 3 9 2 4 3 U.S.S. Co. (pro!.) ..V 1 010/ :■>■- . Y,<:ii. Woollen (urd.) .11 I- 6. Well. Woollen (pref.) .... 5 14.0 . -• Westport Coal i ?■••>•••■■ J 9 ' Colonial Sugar (Fiji) ... !0 2 ° ':;.'; — &Z DrV • 2,15 0 -*•«■ J War Bonds (1938) 95.15 0. 56 50. 6 px JJoi:ds 96 0 0 COMPANIES BKQISTEEB])... The "Mercantile Gazette" records the registration of tttu folloivinir. companies:isewmun Krus., Ijtcl. itosisiert-d us.a pnvate company, June %, Ui9. Oftcej BriEhtwater, iSelson. C'.ipital: £20,000, into 2000 chares ol £10 nach. Subscriber. iifightwiitur—liotiry Xewm.in. 10W; Thoman Newman, 1000. Objects: To acquire ana carry on the lrasmcm of Jlcury iicwiniin and Thomas Isuwimiii us motor-car -toprietora, mail contractors, and livery ataUlc Keepers. . i W Butcher. Ltd. K-tßislercd as a private comfuuy, July 21, 19W. Officeß: 19, 41, 43 buft'ur 'J'uraniuu nliccl, \lcllinyion. Capitat: £3000 divided into 3000 eharce- of £1 eadi.. hubscril.er»: iVellinulon-T. W. Butcher, 1400 paid-up aud 1580 contriljutine shares; Eva F. liutoher, 100raidup shares. Objects: To acquire as a going concern tho business of manufacturem'.representative earned on by 1. 'W. Butcher. . , Paramount Millinery, Ltd. Kegistcrej. ae a privato company, July 25, 1919. Capital: £1800, divided into IBjO shares 'I £1 nach. Subscribers-. Wclliiit'tou-Carrie Peters, 900- Alice M. Cliucli, 900. Objects: To acouiru as a Boini; concern the business carried on by Carrie I'eters et >\o. toil Courtenay Placo and 20 Willi* Street. Wel'"/auniway and Co., Uα. Keeistered as a privato company, July 26, ISIS.: Oiiico: rtcllincton. Capital: iSSOO. divided into 5500 shares of £1 each. Subscribers: Wellington—E. Scotland, 5000; A. J. Aucher, 500. Objects: To acquire and carry on the business now carried on ly h. hcotlana uder tho style of Oiimiawiiy and Uo., aj itovedores, wharfingerp, eto Crai" and Co., lmi. llngintcrcd as.apnvnie "company, July 26, 191!>. Capital: £5000. divided into ICOO sharet of £5 each, of which 8;0 aro prcfcri!i;«e .md 160 are ordinary. Buhscribars: Wellmelon-W. S. Craig. 840 pruf. Chrislciurcii-I'. J. Crawford! 80. St. N. Uanlie, 30. Objects: To acuuiro the l}«3iness now ear rie'd on by W. S. as a crockery, china, and uliisewaru buiinosj, under tne ntylo of Crait and Co. . ; W'aufrauui fresh Food Co., Ltd. I!w;»-tei-dii a-s a private company, July 26. !919. Offlce:-London Street. St. Johns, liui. Capital: £6000, divided into 8000 shares of £1 «;wh. Hubscribnrs: WaiiEii niti-B. H. Thuinson, 2750; Win. -Mouldey. 2750; E. it. Grant. 1250; William C.ambleß, I2cO; "Objects: To carry mi the. business of milk and dairy produce suppHers, etc., now carried on under tho ?ty!e ol tho Wauganui Fresh Food and Ice W.

WELLINGTON WOOLLEN COJiIHNY. The thirtv-sixth annual report of the directors cl the Wellington Woollen Manufacturing Company, Ltd., ?hows satisfactory rcaults for the twelve months' '■working. Thu change from military to civilian manufactures, which occurred early in the iinaneial year, was effected without serious curtailment of 3i\tpul, bvt the demand for the company's iroods has been greater thau the.mill and doUiing factories could supply, 'i'ho early installation of more machinery not heiner ] ossible, owinß to the disturbed conditions in England, the directors regret that additional production was unobtainable, and therefore much of the requirements of. the company's clients could lint iiu delivered. The buildiiiK of warehouse and cbtlnnj workrooms in Christchurch on tlie site secured last year has commenced, and it is expected that within the next iinancial period the company will be established in premiaes there more suitable to development than the location of the past eleven years. The plant and buildings nave been efficiently maintained out of revcuae, and the sum of £5000 ivritlen »ff ior annual depreciation. Tho reserve account has been addad to by £7000, and the lire insurance reserve strengthi-nta by SZOOu. The payment of a. fuvtlmv onldund of ,4 per cent., with bonus oi 3 net- cent., is recommended, and that Hie balaiiid be carried forward. The vacancy on the directorate caused by the death of. Mr. A. K Kxl-y wob filled by the appointment of Mr. J. y.-l)yer, of Yve.tJir.eton. Jlessi-a. W II P. Barber and V. 6. foster, the retiriiic directors, oiler il-ciaselves for ieelection. The auditors. Messrs. Henry Keinber and Son, F.P.A.'.NVa.I, ana hinest W. Hunt. F.P.A (N.Z.). ncnin su.ouiit themselves for the position.

THE AMERICAN EXCHANGE. DealinK with the problem of live American exenauge and the position cf Aew Zealand, tho "Mercantile Gazette saye;Many people who are fairly well equipped upon die suoject predict that the iScw I'ork conversion rate will lall to lour dollars, -equal to a tweuty per cent, mcrease on all goods invoiced from there to this country, and ilie oiiestim arises whether Kow Zealand cannoi, make better terms by arranging to wake her payments to the 'Republic direct to i\ew York without putting them through london. If our wool could be sola in a ireo market, American buyers would ■purchase heavily, and as they would r.ot iret the benefit of me lower conversion rate through. London, they would haw no ape--1 cial advantage uvf.r local purchasers, because if wo effected our exchange direct they would have to pay approximately live dollars tor the sovereign. Without wool purchases our exports to die . Umiea Btate3 have been gradually creeping up; if wo could eell wool direct to them thebalance oi Hade would be in our favour, and the conversion rate would, stand at winowhcre about 4.60. This being so, is thiire any reason -why the Dominion ■ should be dragged int-o tho European rate at alii , utc&use Europe, on account of its indebtedness to the West, can only transmit remittances at a very great coat, thcro is no., uood reason why this Dominion, wiiich. i& able, it it went alone, to buy twenty per cent, cheaper from America, should not do »o. If ivb make arrangements to.effect our exchange direct with America, wo are dol . n B our Mother Country m> injury; w tho con. trary we aro lcsscnini; tlie balance she has to meet, and nft-vinc the coiuumers of American Roods in the Dominion to thn extent of thousands of pounds per year. If our exports to America euual our imports from there, why should we send our money to London and accept the ad-toi-bo exchange which must run there? Jluch better to discharge our liabilities to America by exporting goods. As i matter of fact, we do so now, but by sending through. London we pay in exchange heavy Bums of money afiUe unnecessarily. We. think, thai the Chambers of Commerce should talis up this matter at once, end wo auk our bankers to point out if there is any real reason why. \vo should not get a- stabilised conversion rate of our own.

CUSTOMS REVENUE. Customs revenue collected at the port of- Wellington ycete.rd.iy amounted to £1891 46 ild. For the month the Custoniß lleures were £95,679 on. 8-1., and i'ie beer duty jaiaa as. %. LONDON MARKETS. Außtraliaii-New Zealand Cable Association. London, July 26. Cotton'—Ainrust, Zl-6W. per liuaud. -Nc" Zealand Hcmp.-Uull: Injh-point, May-July delivery, £51. Jute-Firm; July-Aucust delivery, £H. Rubber .-Para, 295(1. per pound; plantation, 23Jd.; emolied, 2Ud. Oopra.-Stt«dy, at £58 Wβ. Linseßd.Oii—l2Sß. . Turpentine—lo7s. on. AUSTRALIAN I'EODUOE. By TeleErauh-lt'rbfS .naoclation-Ooprrujlrt [?>ec. July 31, 9.45 p.m.) Sydney, July 31. ' O-its Algerian, fecdiUß, ss. (d- and ss. 7d ;' milling. 55. , 9d.; tawlM. -ta «J 6s jd liuriey, Cope, ss. au.l ss. 3d. Jlaize, fs 3d mi Vβ. 6d. Potatoes. Tasmaman, £18. Unions, £19 W*- to iM. Adelaide, ,luly 31. Oats. 4s. 6d. '