Finance, Stocks, and Mining.

Free Lance, Volume I, Issue 33, 16 February 1901, Page 5

Finance, Stocks, and Mining.

THE policy-holders ot the Australian Widows' Fund Life Assurance Society have received the Society's balance-sheet for tho twelve months ended 31st October, 1900, and if they are not satisfied after perusing tho document then they are hard to please. » ♦ • Dunne the year tho Society issued 3060 policies, assailing £037,627. Stated thus, it does not look much. Still, it is the record amount of new business written by the Society since 1891. But, to compare the business with_ previous years, we find that in 1897 the new business totalled 1741 policies, assuring £362,879 , in 1898, 2077 policies, assunng £440,288, in 1899, 2821 policies, assuring £578,612. This shows that the new business ot 1900 Wb nearly double that of 1897. * * * The Society has entered upon the closing year of Uie sixth quinquennium, and, wii.li tour out ot the hve years e\lubiting such good results, and with every prospect ot the fifth year being better than the tour previous, the reversionary bonuses ought to be very substantial. . * * The pieraium le venue for the past year amounted to £lb/,109, against £160,811) in 1899, and £1b3,0/l m 1898, and the total revenue to £237,019, against £224,181 in 1899, and £215,592 in 1898. * * * Tho Society has been established m this colony for two or three years, and trom all accounts the directors have no reason to regret the step. Business has been steadily increasing, and the held agents find no difficulties in the keen competition which now prevails in the life insurance business. * * * Armed with tlus latest balance-sheet, the canvassers of the Society ought to be able to convince the most cntical of their clients of the soundness and stability of the Society, and, what is more, they ought to experience no trouble in becuring new business, particular ly as this lb the fifth year of the quinquennium. * * ♦ The balance-sheet of the Soutliland Frozen Meat and Produce Export Company for the year ended 31st December, 1900, will not delight the shareholder, who are again to be left without a dividend. The net profit for the year amounts to £2537 13s Bd, against £3926 in 1899. * • • The shrinkage in the profits is attributed to the decrease in the number ot carcases handled. The number of carcases frozen and shipped last year was —Mutton, 50.786; lamb, 67,541, making a total of 118,327 sheep and lambs, or 84 ; 299 carcases less than in 1899. In addition to the above the company handled 45,883 crates of rabbits, or 2624 more than in the previous year. * • » Of the total available balance, amounting to £2927 2s Id, the sum of £2562 is to be applied to writing off for depreciation of buildings and plant, leaving £365 2s Id to be carried forward. The reserve fund remains at £4000, which was the amount set aside at the close of 1899. * • • The company owes the Bank of New Zealand £9400, or £2939 less than at the close of 1899. The debenture debt, amounting to £17,700, is the same as in the previous balance-sheet, but the item "creditors secured by mortgage" has increased from £2000 to £6000. The total indebtedness of the company in 1899 was £33,690 l"ss 2d, and last year the amount increased to £35,781 4s 7d. * * • The value of the freezing works at Mataura, Bluff, and Wallacetow n is given at £73,765, or £5308 more than in 1899. During the past year extensive additions were made to tho buildings and plant at Mataura and Wallacetown, which accounts for the difference. * • ♦ The balance-sheet of the Auckland Gas Company is a wonderful document, and quite unlike any other balancesheet. The ordinary individual would be puzzled to make head or tail of it, and yet the balance-sheet is correct in every detail. Its construction is of an obsolete pattern, and the sooner tho modern style is adopted the better. * » ♦ Briefly, the net revenue of the Auckland Gas Company for the past year amounted to £27,972, and, with £10,880 brought forward from the previous year, there was a balance of £38,852, and, of this, £5220 was retained for expenditure on works, leaving £33,632.

This is one of the strong companies of the colony, and the shares are looked upon by investors as gilt-edged securities. * • • The Western Packing and Canning Company, Patea, whose balance-sheet was discussed in these columns a few weeks ago, is reported to be on the market. It seems that the shareholders at the annual meeting instructed the directors to sell the works as a going concern. This is a sensible move. * • • The high price of coal has affected most householders adversely, but the West port Coal Company has no reason to complain. The balance-sheet for the year ended 31st December, 1900, discloses a very satisfactory state of affairs from the point of \ lew of the shareholders. * ♦ * The not profit for the ye.v amounted to £23, "573. a* against £18 3(>2 m 18!> ( ), a gam of £5211, or ncaily 30 per cent With the balance of £b452 earned o\ei fr/mi the previous year, a sum of £30,025 is available for distribution. * • * Out of this surplus the directors propose distributing £16,629 in dividends, equal to 8 per cent., or \ per cent better than in 1899; to add £5000 to the reserve fund, and to carry forward £8390. The reserve fund will now stand at £10,000. * * * The profit on the coal account for 1900 totalled £d2,b29, against £20,074, and the costs of management amounted to £boob, against £5b03 in 1899. The works, leases, and plant of the company are valued in the balance-sheet at £31b,332, against £294,889 in the previous year. * * * The directors of the Permanent In- \ estment and Loan A&sociation ot Canterbury, in their report for the year ended dlst December, 1900, state that after paying the usual dividend of o per cent, for the year, which absorbs £&SoL 4s lOd, a balance of £90l 19s lOd remained at credit, which, however, included the sum of £453 11s 8d brought forward from the pioviousyear. Ot this surplus £500 has been transfeired to the reserve fund, and the balance of £451 19s lOd carried foiward. Tho mining market has not shown any activity since the beginning of tho year, but there are indications that the spell of dullness has ended. It only needed a substantial return to hx the attention of speculators on dredging investments, and that return was obtained last week by the Manuherekia dredge, which gave a yield of 730z. * ♦ # The reports from Otago are now a great deal more cheering. Most of the dredges are getting ready to resume operations, and many have already begun work. New dredges are rapidly nearing completion, and, altogether, the promises for the season which is just opening are of the best character. * ♦ * West Coast is still affected by the absence of returns. The few machines working on the Coast are experiencing the usual troubles at the initiation ot an industry. This cannot last long, and when the "dead" work has been got through there ought to be some t>urpuses for speculators. * ♦ * The market both for Otago and West Coast shares was never better, and those who do not mind waiting a month or two have now the opportunity of buying to advantage and selecting their stocks. * # * Promotions have slackened off recently, and only the very pick of ventures is now being offered to the public. The Takaka Sluicing Company, now being floated, is well worthy of the close attention of speculators. The names of the directors — good business men though they be — do not influence us so much as the report of Mr. Howard Jackson. * * ♦ Mr. Jackson is an expert who gives a veiy honest and straight-out repoit, and, what is more, he is thoroughly qualified to report on sluicing ventures. Tins expert has reported rather favourably of the Takaka sluicing venture, and that insures a successful flotation * ♦ • The Maori Queen dredge is progressing favourably, and Mr. Crabtree, of Wellington, who is fitting up the machinery, expects to have his work completed before the end of the month Moan Queen shares are very firmly held, as the claim is considered a good one. The Golden Run dredge, which is very powerful in every respect, has been completed, and a trial run was to hai c taken place this week. * * * The completion of the Endeavour Company's dredge is being dolavod for some unexplained reason. \ start was made with fitting-up operations, but these were suddenly suspended.

The Kelly and Casey dredsre will be ready for a run in about a week's time. * ♦ ♦ The Klondyke dredge has been purchased by the Stafford- Waimea Comeany, whose claim is on the West ioast. It is calculated that, including cost, the dredge can be put on the claim in working order for £4000.