Commercial Intelligence.

Hawke's Bay Times, Volume 14, Issue 719, 20 September 1869, Page 2

Commercial Intelligence.

AUCKLAND LIVE STOCK MARKET. Reports for the Week ending Friday, Sept. 17. [MESSRS. CAREY AND GILLES.] The market during the week haa been very well supplied with fat oattle, which were disposed of at prices ranging from 36s to 45s per 1001 b. We sold privately the cargo of the Island City at £ll 5s per head. A fair number of dairy cows wpre brought forward, and sold at £lO to £l4 each. Well-bred store stock are in demand, and those offered sell readily at satisfactory prices, realising as follows:—Yearlings, £3 5s to £4 10s; two-year-old steers, £6 to £7; full-grown steers, £B, £9 15s. Sheep were penned in average numbers,! and sold at last quotations. Store sheep, half- i breds, are in demand, but few obtainable. Merinos sold in limited numbers at 10s to 10s 3d. Pigs met with ready sale at the late high values maintained. On Wednesday, at the Junction Yards, we obtained the following prices:— Fat Cattle, ex Ahuriri, from Wanganui, realized from £9 to £l4 5s per head; ex Star of the South, from Napier, at £l3 15s to £lB 8s 6d, being an average of 36s to 38s per 1001 b, for medium, and 40s to 45s for prime quality. Fat Sheep : The cargo, ex Ahuriri, from Wanga nui were quitted at from 13s fid to 21s; provincial half-bred, 19s to 33s 6d each. Store Sheep: A few merinos from Napier sold at 10s to 10s 3d each, UNION BANK OF AUSTRALIA. The thirty-first annual meeting of the proprietors was held on Monday, 12th July last, at the Bank Buildings, Lothbury, London, —Mr R. Campbell in the chair.

Mr Mewburn, the secretary, having read the advertisement convening the meeting, read the following report and balance sheet: — The directors have again the pleasure of meeting the proprietors with a statement of accounts which proves the continued profitable employment of the bank's resources, and the stability of its valued connection.

[ It is well known' to the proprietors that the staple trade of the colonies has been seriously affected for some time past by the very low prices of wool, combined, as regards Australia, with an unprecedentedly severe drought, and, as respects the Northern Island of New Zealand, with the continued native disturbances. The last mail brought intelligence of copious rains having fallen over the Australian Continent, whereby the pasturage was restored. Nevertheless, the great pastoral interest of our oolonies cannot be free from anxiety for some time to come.

The directors have long prepared their principal ' officers for the depression that has occurred; and ■ to their faithful adherence to those cautions, sup- ' ported by the foresight and intelligence of the general manager, the directors have pleasure in at- ■ tributing the bank's comparative immunity from 1 bad debts. As usual, every advance at the branches, ! and in London, has been thoioughly investigated by the directors, and whatever appeared doubtful has been provided for. William Fanning, Esq., and Edward Peach Wil ; liara Miles, Esq., are the direotors who retire on this occasion, in accordance with the provisions of 1 the deed, and offer themselves for re-election. The manager in London, Mr Saunders, having intimated to the Board some time since his desire to be relieved of his office, in order to enter upon commercial pursuits, the directors have reluctantly accepted his resignation, and in doing so desire to record their deep sense of the valuable services which he has rendered to the Bank during the lengthened period of sixteen years. After giving their best attention to the selection of his successor, the directors have engaged Mr John Bramwell, who, in addition to a long and varied banking experience, has the advantage of practical acquaintance with banking in Australia. The subjoined statement of accounts presents \ net profit of £96,051 7s lOd available for division. The directors have, therefore, determinee to apply the sura of £93,760 as a dividend of £ll7s 6d per share for the half year, being at the rate of fifteen per cent per annum. The dividend warrants will be transmitted by post for the 20th inst., and the dividend will be payable in the colonies as soon , as the general manager shall fix after receipt of advices,

Statement oe Liabilities and Assets At the Branches on the 31st Dec, 1868, and at the , London Office on the 30th June, 1869.

LIABILITIES. a s d Circulation ... 378,502 0 0 Deposits ... 3,'621,898 18 5 Bills payable and other liabilities (including reserves held against doubtful debts) , ... 19 9 Balance of undivided profit 98,051 7 10 Reserve Fund 250,000 0 0 Insurauoe reserve amount... ... 75,000 0 0 Bank premises reserve account... 75,000 0 0 Capital 1,260,000 0 0 £6,610,768 6 0 ASSETS. Specie on hand and cash balances 1,020,190 16 11 Bullion 104,898 7 7| Bank premises and property 174,626 13 1 Government securities (British and Colonial) ... ... 178,872 15 10 Local bills, bills receivable, and other securities 4,882,17ft 12 7 Beserve fund, invested as per statement 250,000 0 0 86,610,768 6 0 BESKKVK FUND. New Zealand Imperial Four per Cent. Debentures 200,000 0 0 Colonial Six per Cent. Debentures 50,000 0 0 £250,000 0 0