COMMERCIAL ITEMS

Dominion, Volume 13, Issue 56, 29 November 1919, Page 12

COMMERCIAL ITEMS

INVESTMENT SHAKES. s ■ Yesterday's quotations for investment aharee Tvere as follow:— " Uuyeri. Sellera. , ■. £8. d, £s. d Bank Australasia — 137 0 0 National Bank 610 6 ■ — Bank N.S.W - 40 5 0 Bank N.Z. (£3 6s. Ed.) ... - ' 15 0 0 Bank N.Z. (£fi 13b. Id.) ... 18 17 0 - Union Bunk ..:. — 13 2 6 Equitable Building 9 2 6 Loan and Mercantile ...... ' — 120 0 0 .Well. Investment' 0 10 7 - Napier Gas (pref.) - 10 0 0 Well. Gas (pref.) - 0 17 9 Standard Insurance ...... 2 19 0 — N.Z. Refrigerating — 14 3 Moat Export (525.'6 d.) ... 4 1 6 4 2 6 Htuldart-Parker (ord.) ... 2 9 0 210 0 Huddart-Parker tpref.) ... 1 0 6 10 8 O.S.S. (pref.) 113 - P. and 0 650 0 d Kainpoi Woollen - 910 0 Woll.■ Wool, (new issue), b 10 0 ' 517 6 Well. Woollen (pref.) — 6 0 0' Hikurangi Coal ....■ 0 13 6 — Taupiri Coal ..,. 017 0 — i Waipa Colliery 0 12 *0 0 15 0 Leyland-O'Brien t 7 f> Taringamutu Totara .„... 12 0 — Colonial Sugar (Aus.) ... — 25 5 0 Colonial Sugar (Fiji) ... 20 7 6 - Consolidated Dental ...... 16 6 — Paper Mills 1 10 3 - Sharland and Co 114 0 — Ward and. Co. ; 511 0 - Well. Cordage - 12 6 WUaon Cement 0 15 6 0 1510 War Bonds, 1938 - 95 2 6 War Bonds. 1930 95 10 0 - 5 Per ceut. P.O. Bonds ... 98 0" 0 — FARMERS' CO-OP. DISTRIBUTING CO. Tho report of the directors of the New Zealand Farmers' Co-operative Distributing Oompany., Ltd., for tho year ended tJoptombcr 30 states:—The total net prollt for the year, after making provision for bad debte and writing down premises, plant, oßlce furniture, and motor accounts, and allocating bonuses to shareholders and bonus to eta/f, is £11,218 15s. Bd. to which has to bo added tho amount brought forward from hist year (£2636 os. ?d.), making a total of i.13,854 16s. 6d. available for distribution.

The bonus provided for on shareholder#' purchases of merchandiso during the year (sundry net items excepted) is 4 per cent. The amount of bonus -to the staff Is £750. Tho total volume of business dono during tho year has passed tho million mark—' the actual amount being £1,048,797. The result of thQ year's trading is, therefore, a very satisfactory one. Tho directors recommend that the balance to tho credit of profit and loss account bo disposed of as follows:—Dividend on capital at tho rate of 74 per cent., free of income tax; transfer the Bum of £2629 10s. to reserve account; eel aside a 'sufficient sum to provide for tho heavy taxation which tho company will again bo called upon to pay; balnnoo to bo carriod forward. It Is proposed to transfer tho sum of £2370 10s. from premium on shares account to resorvo account bringing tho total of 6ame up to £15,CC0. Wool salcß have again Increased to a remarkablo extent, as will bo «ec» hp tho following figures:—l9ls-16. 2CCO bales; 1916-17 , 8000 bales; 1917-18 19,000 bales; 191R--19 , 26,000 bales;- while during the present season (1919-20) tho company anticipates handling nearly 20,CC0 hales. To achicve such results in the space of live years from the dato of entering.the wool business constitutes r, record for the Dominion. This has only been achieved by the earnest work of tho staff, and is a clear Indication on the part of producers ot confidence in tho company and tho cooperative principle of trading. Tho hoad ofTices of the company aro now comfortably housed in the Dominion Farmers' Institute, Wellington. A six-storifrt warehouse, adjoining, provides for the large and rapidly-extending merchandise and hardware business. The company lias ontorcd tho motor business, and flrst-clasn agencies for motors, tractors, trucks, and

! motor tyres have boon and are being secured. During the year fnlly-ntiuippiid branches have been established in Wangauui and Masterton, ami, although opcnetl for business but, a, lew lnuiitho the results to date aro n sure proof of their ultimate success. The large wool' store in Wanganui being unable to cope with the increasing quantity received there, a. new wool store and merchandise warehouse has been built on adjacent land, and is now neimitj; completion. The Fcildlng branch continues to show-excellent results, with a rapidly-expanding turnover. The fertiliser mixing plant there has proved a great boon toWicnts, ana tho mixtures are being distributed all over the province. The finu ferro-concretc live stock Kaleyards at Taihapu and Huntorvilla arc now completed, and highly-successful sales have already boon conducted there. Similar yards at Marton and Mangitweka aro Hearing completion, These yards are thoroughly up-to-date in design, construction, and size, .and are nnrivnllcd throughout the Dominion. Tho farmers ill the Itangitikei aro thoroughly enthusiastic, and tho prospect of the company being able to allow it record in live stock sales similar to that in wool is practically assured. Tho subscribed capital of the <ompany haß during the financial yuar been increased by £27,509, to' which has hedn added £3622, representing "hares allotted since September 30 last making a total increase of £31,131 since the last balancesheet. The rapidly-expanding business of the company naturally requires additional capital, and shareholders arc asked to pass in general meeting an authority to Taise the nominal capital to fiiCO.OOO bv the creation of 250,000 additional "A" shares. It is intended to offer 60,000 of these shares at the present low premium until the end of December. and it is anticipated these will ho readily taken up by existing shareholders. The directors tender thoir hearty thanks to th« staff for their untiring efforts on behalf of tho company during tho year. This year especially the work of tho staff has been very arduous, and yet cheerfully aril efficiently done. The retiring directors nro Sir James Wilson and Jfessrs. J. J. Bryce and G. L. Marshall, wno, - being eligible, offer themselves for re-election. The retiring auditor, Mr. ]). M'Kay, l'.A., offers himself for re-election.

BANK OP NEW SOUTH WALES. Dy Telerr*.dli ARs-wii'tinn—OoDvrltrW Reo, November SB, 9.55 p.m.) Sydney, November 28. The Bank of New South Wales has declarw a hall-yearly profit to September 30 of £302,425, ■ and a dividend o! 10 iper cent. ■ CUSTOMS REVENUE. 'Customs revenue collected at tho port of Wellington yesterday amounted to £6203 2s. sd.