Finance, Stocks, and Mining.

Free Lance, Volume I, Issue 44, 4 May 1901, Page 5

Finance, Stocks, and Mining.

THti year 1900 proved a very good ono to the Mutual Life Association of Australasia. It was the first vcar of the new quinquennium, and the good results augur well for the future. » • ♦ During the year 3239 proposals for €828,426 were' made, and of these 798 were declined or not completed for £205 038, and 2441 policies were issued for £623,388. • * * New premiums (including consideiation for annuities granted) amounted to -631,372, which shows a substantial mciease on the receipts of 1899, it from the latter be excluded the special premiums received for the assurance of Transvaal contingents. • • » The renewal premiums, and this is the test of permanent, sound business, amounted to £150,454, or nearly £10,000 more than in 1899. The interest revenue amounted to £62,242, or £3378 more than in the previous yeai. » * * The whole of the colonies of Australasia and the United Kingdom all contributed their quotas to the good results, and the revenue was closely collected, for the amount outstanding was very small. • » * The mortality experience was larger than in 1899, but still not up to expectation. The total funds on the 31st December last were £1,437,612, an increase during the year of £78,249. • • • The Mutual Life Association shows great vitality, and an expansive potentiality that is marvellous. The ourrent quinquennium ought to show exceedingly satisfactory results at its termination. • • • , The Orient Steamship Company, one of the two most powerful British shipping corporations, has had another good year, with profits amounting to £51,730. • * * The company pays a dividend of 10s per share, places £20,130 to the credit of reserve fund, and carries forward £17,870, enough to pay another 10s dividend, and still leave a few thousands in hand. • • • Freights have been remarkably good, and plenty of cargo has been offering in the colonies. But this is not likely to continue much longer, and already freight rates have declined, and the companies trading to the colonies will feel the backward movement presently. • » • The New Zealand Insurance Institute, with headquarters in Wellington, is a very useful affair ; at least, it could be made of very great service to underwriters generally. • * * Somehow young fellows seem to think that such institutions should combine business with pleasure, and that socials should be sandwiched between papers. • * * The Committee of tho Institute might consider this aspect of the matter. At any rate, it is quite clear that something must be done to maintain the interest o"f the younger members. • • • There is something to be said against the senior members. If the local managers took a keener interest in the Institute, then the younger members would be induced to do likewise. Example is bettei than precept, and the senior men ought to set a good example. At present the majority of them do the reverse • * * Underwriters continue to experience a very hot time. They began the week with the questionable consolation of knowing that during Saturday and Sunday they had lost very nearly C 30.000 in fires. • * * The fire losses during the past tout months have been awful, and £150,000 would scarcely cover the amount paid out by underwriters. • • • To square matters a little bit, the premiums were raised in the North Island as from tho Ist instant, and, taking the figures, there is some justification for this step. But, with the mcioaMng losses in the South Island, it seems that our Southern friends ought to be forced to pay more. • • • Where the underwriter have made a mistake is in not discriminating between the localities that show good and bad records, and between those towns that have furnished adequate hie extinction appliances and those that have not.

However, the increases have come into force, and are not likely to be altered just because there is some complaint about unfairness. The companies will, in all probability, do less business, but they will not mind that so long as there is a profit. • • • Frozen meat in the London market is steadily declining in value, and last ueok there was an all round decline of Id per lb. This fall has been reflected in the pnee of stock in the colony and it ib veiy likely that there will be a further fall shortly. • ♦ • But there is no leflection of tho London decline in butchers' meat. Some time ago the butchers put up the prices because fat stock was dear, and they raised a number of other excuses to justify their action, and we had to submit. * * * Now, that fat stock has fallen in price, we do not hear of any move being made to lower the prices of prime joints. The Butchers' Association is not likely to move until the voice of the people is heard through the press. * * ♦ The South African trade is quietly developing, and the most interesting feature is the expansion of the shipments of poultry If the poultry trade develops as we believe it will, there will be a great opening for many people who are unable to endure hard work. * • • It is a mistake to suppose that trade is only possible -with frozen poultry. Thereis a good deal to be done in canned chicken, duck, and turkey, and prize poultry are not wanted for this. • » * If poultry canning works were started in conjunction with the making of pastes, such as ham and chicken and veal and chicken, what an excellent market there would be for the mongrel fowls that are to be found everywhere. • • • The mining market is very sick, but bad as it is at the moment the outlook is not so cheerless as some writers would have us believe. * * * The crisis is purely financial, and that is not beyond being righted. The industry is sound, and so long as it is so mere financial troubles cannot affect it for any length of time. The directors of the Nelson Creek Dredging Company paid their first dividend of Is per share on Tuesday last. The Grey River Company ■is the only other public dredging company on the West Coast that has paid a dividend. • • • The directors of the Dunstan Lead Gold Dredging Company have appointed Mr. D. Brigans as dredge-master, and he enters upon his duties unmediately. # Tho Maori Queen dredge obtained 9oz IGdwt for about fifty hours stripping, which is distinctly good. This is a Wanganui company, and one that will be heard of very shortly. « • <• The First Chance dredge is practically completed, and should be starting active work in a few days. * •* » It is expected that the Three-mile Greenstone Dredging Company's dredge wdl be ready for a trial run in about a week. ♦ • • The shareholders of the Willoughby Cardrona Dredging Company decided last week to go into voluntary liquidation, and Mr. L. G. Reeves was appointed liquidator. The voluntary liquidations are becoming numerous, and it is a good sign. • • • The pontoons for the Trafalgar Gold Dredging Company will be launched beioro tho end ot the month. * * * Some dredging ground south of Hokitika has been prospected, with excellent results. There is not much good in this, as it would be next to impossible to float a company just^now. The Lady Charlton dredge gave her first result last week, which, though small, is very promising. Tho shares, of this company will be worth watching, for all the clever ones are sweet on the claim. • • • The Greenstone dredges are not doing much, but they will come presently, and will command a great deal of attention.