Commercial.

Evening Star, Issue 3467, 2 April 1874, Page 2

Commercial.

''he amount of revenue received at the Oua-wm-house on goods cleared for consumption this clay, was L 1,736 9s Id; gold duty, LI 15s. There was a good attendance at Messrs Driver, Stewart, and Co.’s sale of property this afternoon. Messrs Lees and Moore’s Awamoko < estate, consisting of 3,129 acres, was, after brisk competition, sold to Mr H. J. Miller, of Oamaru, for L 9,699 18s. Several other properties were also offered, but withdrawn. The following report was submitted at the seventh annual meeting of the Standard Property Investment Society held last meeting : “In accordance with the resolution of the Society, passed at the last annual general meeting, a special meeting of shareholders was held on the >7th of May last, at which it was resolved to reduce the rate of interest to investors and borrowers to per cent.; to adopt a scale of payments by investor* whereby a given sum of money might by stated payments be realised in a given number of years; and the necessary alterations were made in the rules for carrying these purposes into effect. During the previous ■year 1.308 additional shares have been taken up; L 25.136 10s has been invested on mortgage; Li,241 lent on security of shares : and L 1,646 14s paid on shares withdrawn. Securities for about L 5.000 more have been accepted, payments to be made when the buddings now in course of erection are completed. The auditors have made an equitable adjustment of the interest of cash; and proportion of the cost of management is chargeable to the new issue of shares, amounting to L 957 12s Bd, particulars of which appear in balance accounts. The shares taken up in March, 1867, on which Ll7 each of subscriptions shall have been paid in April, 1874, will then Lave realised L 7 19s 4d of profits, and will be worth L 24 19s 4d, which will be reahsed and payable towards the latter end of April, being fully one month within the tune originally calculated. It may interest the shareholders to know that, since March, 1867, the society has invested on mortgages L 62.382 •t? j on securit y shares, L 6,055 \ and paid to witfidrawers, L 6,152 2s, During the same ere bas been received of subscriptions an<i of repayment of loans, 3d, The cost of management has been L 1,675 8s; and there has been received from entry moneys, fines, fees of transfer, and forfeiture, L 1,336 Qs 2d, leaving 0n1yL339 7s iOdbf the .cost of management chargeable to the ordinary profits ot the Society.” In openmg the business, the chairman (Mr T. Dick) remarked that it would be observed by the report that they were, now about at the close of first issued shares. Seven years ago, the society was begun in a comparatively small way, and this month those who took out shares at the commencement would be able to realize their L 25 per share. The society had increased its business largely during the past year, having between L 25,000 and L 26.000, and Lo,ooo more was to be lent out, which would Jg ß . amount up to L 31,000. They had not gat all this money in subscriptions, but had borrowed on debentures at a low rate of interest which gave them a small profit. They had made no bad debts during their career of seven years—they had gone through what a terminable Building Society would call its term and during that time had not made a single bad debt,— Messrs D. Cambell and K. A. Livingston, the retiring electors, were re-elected, and Mr A H. Shury appointed shareholder’s auditor. Tiie salary of the secretary (Mr Charles Reid) was raked from L 250 to L 350 a-year, and the fees of the auditors increased to six guineas each. ' ''

asdf

' Saw Fuancisco. — Kerosene (Devoe’s brilliant), 35c to 36c ; radiant, 31c to 32c; flour 1 5 dole. 25 cents, to 6 dol. 37£ cents., in 1961bs ‘ sacks; wheat, 1 dol. 95 cents, per lOOlbs. Liverpool quotations telegraphed on March. 6th 12s 5d |o 12s 7d for average wool. Quiet sales for home consumption 15 cents. Shippers are offering 14 cents. New Yoek, March 4.M 7 heat, l dol. 65. Scents, to 1 dol. 85 cents ; hides, dry, 23i to 24* tfents; wool, steady .pulled 3? cents to 45cents : spring, fin?, 25 to 35 cents, , ‘