COMMERCIAL ITEMS

Dominion, Volume 14, Issue 60, 4 December 1920, Page 12

COMMERCIAL ITEMS

INVESTMENT SHARES. Yesterday's auotatlons for iiiveitmcnt aharcfc were as follow:— T lUireri. selloro. War Bonds (1930) SO 10 o' -U' Dank New Zealand — ' 24 2 6 Equitablfc liuiiiiini' — 917 6 Loan and Here, (ord.) ... — 95 0 o Well. Trust and Loan ... 6 0 0 — Well. Gas (£li» - 10 0 0 Well. Gas (pref.) 0 16 0 — National Insurance — 3 3ft South British. Insurance — 8 1 0 0 Standard Insurance 2 0 0 — Jf.Z. Refrigerating (10s.) — 1 1 t> liuddart-l'arknr (c-rd.) ... 2 0 0 2 16 fiuddart-Parkcr (pref.) ... — 018 6 Westport - Ci-al — 18 9 Walpa Goal 0 13 9 0 15 1 Taringam'itu Totara. ... 1 5 0 — Eclipse Petrol (£1) — 015 0 Koward Smith (pref.) ... — 018 6 Manning and Co — o 15 0 N.Z. Con. Dental — 16 3 N.Z. Drue .... — J 3 0 Wair. Farmers' (pref.)... — 10 0 Wilson's Cement — 016 0 AUSTRALASIAN T. AND 0. ASSURANCE SOCIETY. The report to be presented at the annum meeting of the Australasian Temperance and general Mutual Life Assurance Society, Ltd., states that the policies issued during tho twelve months ended September 30 numbered 15,791, assuring: £2,756,710 in the ordinary department, and 87,302, assuring £3,145,181 In the Industrial department, making in all an, aggregate total new business of 103,0)3 policies, assuring £5,901,891. Thp premium income increased by £136,275 to £1,011,623. The total increase is now £1,200,487. The funds exceed £3,930.000, the increase for the year bclug nearly £600,000. Payments to policyholders were this your £270,051, a reduction over the larpe figures the two previous yoars heme brought about by the cessation of the excess mortality duo to war and epidemic. The assets are now £4,125,109. Tin board has followed tho procedure previously indicated of investing largely in Government and municipal securities, which together account for or over 64 per cent, of tho total assets. The' high rates yielded by. new investments are reilrrtrf hi tho average rate of interest on the mean funds, wtucn is this year £5 4s. per ccnt.

THE TEA MARKET. Discussing the tea market, an eschango eaysa—Late reports received from London adviso that fine teas are fetching record prices; whilst the commoner grades are almost unsaleable. Finest broken orange pekoes ranged up to 6s. 6d. per lb. In bond wholesale (the duty is 10a. per lb.),| The prices paid certainly suggest that tho public taste at Home id still running: strongly on the best teas, and that they are willing to pay liberally for Banio. It is. tho opinion of {hose who. should know that the market for fine quality teas will rule high for a long time to come. Common teas, with which nil markets are flooded, are finding i very, slow sale. Coincidently with the above London report, advice has just .'been recolved from Colombo as follows':—"The market is governed largely by tho exchange, but whatever happens to rates it is our opinion ttnt thero .will be a strong demand for good teas for some months to comc, and we venture to say that we do not think common teas will bo required in any great quantity durfcig the next twelve months, as supplies of Java (Dutch) tea held all "over the world are enormous."

DIVIDENDS AND BONDS. The Now Zealand Loan and Mercantile Agency (J0.,. Ltd., has received a cablegram from its London office, intimating that tho company will hold its annual meeting in London on December 16.

After carrying £25,000 to general reserve account, writing £10,000 off premises,' appropriating £10,000 to staff benevolent fund, applying £38.592 to writing down investments to market values at Juno 30 last, and payment of interim dividend on preference and ordinary stock, the directors recommend a final dividend on preference stock of 25 per cent., lees English income tax at 4s. 6d. in the £, and on ordinary, stock, a final dividend of 2 per cent., and a bonus of 2 per cent., both free of English income tax. Thiß leaves £23,491 15s. 4d. to be carried foTward. The reserve fund now stands at £600,000. and dividend equalisation reserve account £100,000, making total funds in reserve £723.491 15s. 4d.

CUSTOMS REVENUE. ■ Cuniomg revenue onllcrted at the *»nrt of "Wellington yesterday totalled £8596 13s. 9d. N.Z. LOAN AND MERCANTILE AGENCY ■ CO'S KEVENUE. Australian-New %iy»|nnd Ci 1*11? Association. (Bee. December 3, 9.45 p.m.) Londoni December 2. After apijlying £38,592 to writing down Investments, the New Zealand Loan and Mercantile Agency Co's net revenue is £121,745. The sum carried forward is £23,491. EXCHANGE HATES. (Rec. December 3, 8.50 p.m.) ! London, December 2. Foreign exchange rates ou London are quoted as follow Paris, 57.43 francs to £1; Stockholm, 18.03 kroner; ChriHtiania, 25.25 kroner; Montreal, 3.98 dollars; New York. 3.49 dollars; Calcutta, l&jd. to rupee; Yokohama, 34gd. to yeu. COLONIAL AND OTHER PRODUCE. 1 :Rec Dcccmber 3, 9.45 p.m.) London, December 2. Wheat.-Quiet. A Email quantity of imported which was released was quickly sold. Barley.—Slow of sale. Australian on spot is quoted at 90s. to 58s. Oats.—Firm. Beans and J'eas.—Quiet. For Taaroaniaif blues the price asked is 3508. Sugar.—Unchanged. Cheese.—Very flat. Canadian is offerinj; at 145s'. to 148s. per cwt. c.i.f. PRICES OF MgTALS. <Rec. December 3, 10.20 p.m.) London, December 2 Copper.—On spot. £78 12s. 6d. per ton; three months, £18 17s. 6d. i Lead—On spot, £28 15s. per ton; three months, £29 10s. Spelter.—On spot, £30 10s. per ton; three months, £32 si. Tiff.—On spot. £214 ss. per ton; three months, £219 ss. Silver—Bars, 44Jd per ounco standard. MELBOCHKE PRODUCE MARKET. By Tel«Kraßh--Pr«m Assoolation-Oopyrlgli' Melbourno, December 3, Barley. English,' ss. 6d. per buihel; Capo, 4s. Oats, 2s. 6d. to 2s. 9d. per bushel. Potatoes, £6 to £6 sa. per ton. Onions, £9 10s. per ton. THE HIDES MARKET. Molbourno, December J. There is general competition in the hido market. Picked stcuts are ''unaltered; other grades have declined id.'per pound.