COMMERCIAL.

New Zealand Times, Volume XXXIII, Issue 5348, 18 May 1878, Page 2

COMMERCIAL.

Tfa® following are the duties collected at tlio Customs yesterday s

The emounts of Customs' duties received at the port of Wellington for the week ending the 10th Hr Mur. wore u under

The import trade has been comparatively dull during the put week, with no change in quotations calling for remark owing to large stocks in importers' hands, prices are in favor of buyers. The colonial produce market has been equally unimportant, and beyond ordinary requirements, which are necessarily large: we hear of no special lines., Keg butter lias been in.inquiry, but prices remain unaltered nndprlme curd ie only saleable in small lots at from 8d to od per lb: inferior being almost unsaleable at 3d to*d. i Bacon and hams are in full supply at Od to 0d peril*.' - . (Jhocso Is dullat 7jd (o Sd per lb for rhho t'antcr&'Jry ttiAe,- :/ Fldiir stationary at,list notations, >Uh little dolug.tihiats to modcretu-sup-'j

ply, and Brm at 4s to 4s 3d per bushel. Malzo in mo derate demand aids to 6s Sd per bushel. Potatoes, 60s to 70 per ton. , ~ At Mr. B. J. Duncan’s auction sale yesterday the following prices were Hams and bacon, Od to Csd per lb; Adelaide flour, fil7’ per ton. Saunders Southern flour, £10; brown 1 paper, 2 bales, at 3d to 3-id per lb; tea In boxes, 225; marmdade, Os 9d to 7s 6d per dozen. ‘ , * v - ’ Mr. George Thomas reports produce prices na follows : -Flour, £l3 to £1310s; oats, is Sd; bran/ Is Id; wheat, 4s 31; hams, 9d; bacon, Od to Bd;.chcose, 7jd; maize, 6a 3d; pollird, 7s 6d; b tter, la to Is 3d. ME33UB. GUTHRIE AND LARNACH'S NEW ZEALAND TIMBER AND: WOODWARB FA I TORY COMPANY.' , The first general meeting: of the shareholders of Guthrie aud Laruach’s Now Zealand Timber and Woodvaro Factories Company was held in the com* pany’e offices, i'rluccs-strect. The business of tho meeting was to receive tbe report of the auditors for tbo first seven months of the company’s working, ending 30th March’last, and to. elect directors and auditors. AbouMS shareholders were present. Mr. G. $. Brodrick occupied the chair, and the Secretary having read the. advertisement convening ■ the meeting, the report and balance-sheet were submitted to the shareholders, and were as follows: DIRECTORS*. RRPOHT. The directors have pleasure, in presenting to the shareholders their first report and balance-sheet, showing the operations of the company during the ’ seven months ending 30th Match, 1873. -- The net profits realised on the seven months’ working. after making duo provision for all bad and doubtful debts, and after writing off an ample amount for depreciation of plant and buildings. Ac..'amounts ; to £15,130 10s. lid , which the directors recommend should bo Hppropri ted as follows By payment of dividend at tbo rate of 10 £ s. d. I 1 ’ percent.p«r annum' 1 .. 726 T 5 7 By bonus, at the rate of 2j per cent, per annum 1821 16 4 By setting'apart for the formation of a reserve.fund . ; .. 5001 ; 0 0 By balance carried to next half year .. 1070 15 0 The directors have to congratulate the shareholders on the extent aml.satisfactory character of the business transacted during the past seven months, and they look forward with much confldenoe.to increased aud cqua ly remunerative business In the immediate future, for while the company had the advantage of being able to commence with a good going business at Dunedin on the first, day of its existence, the full benefits-accruing from the arrangements made for commanding an Increased trade can only begin to operate during the next half-year. * ‘ The goods ordered in the increased Indents to the Home' and American markets are now arriving, and' will enable an extended business to be done at head quarters and at the brandies, while the satisfactory arrangements with its buyers place the company in a . position to compete successfully and profitably in every market in the colony. T IThe benefits which were expected to result from the conversion of the business into a joint stock com- 1 psny, whereby an extended capital could be brought to develops the trade already in existence, have been fully realised, and In illustration of this fact it .will be sufficient to mention that the factory department , alone shows an increased pro£t of nearly 10 per cent. ‘ during the period of the company’s existence, and the sales for the month of March at Dunedin, irrespective of the transactions'at the. brandies, amounted to £29,057 2s. Od. While, however, this pleasing result has been attained, your directors rcgrvt to have to state that the profits in the retail timber department in Dunedin are not commensurate therewith; - for ; although tho company’s position enables your directors to take the lead in dealings in this staple, their efforts to secure more profitable returns have in a great measure been nullified by the too keen competition which has for some time prevailed. Brandies of the company have been established at the undermentioned places, viz.:—Auckland, Wel-lington,-Onehunga. Christchurch, anclTimarn, and at each of these the business done has been quite equal to the anticipations formed by the directors. Aa outlets for, the manufactured goods, the branches are proving most valuable adjuncts, and the prospects of a large and steadily Increasing trade and connection at 'each branch, are of the most encouraging nature. • T , ■ • . ' i;K The directors have to report the purchase, at a reasonable price, of the Fararahaand Whatipu Steam Saw and Flaning Mills, together with a large extent of valuable kauri forest, whereby a regular and satisfactory supply of one of the leading staples in the timber trade can be relied upon, while also providing the means of carrying on a very profitable trade throughout tho colonie-* by the delivery of wholesale - cargoes of both rough and manufactured lines. These mills we<e not in full operation on the company's account during the whole of the past seven months, and this, combined with the severe and protracted drought that has prevailed throughout-the North for some time past, retarding most effectually the regular working of all kauri mills, has limited to a certain extent the beneficial effects of their requisition; but with the improvements effected to facilitate increased production by the .introduction of an iron railway and otherwise, delivery of sawn timber at ship’s side can bo secured at a largo in cost, and a greatly enhanced income may be anticipated from this source. • ,

The freehold of a piece of hind (nearly ah herein extent), with store thereon, at the corner of Manqhes-ter-street and Town Bolt, Christclmrch the railway station), has been acquired, store and a part of the land will be used as br** iJC j, premises for which they arc admirably adapt** besidesbelng »n excollent investment, os Iron-' t position the ground is rapidly increasing in v»^ 1 . V 1010 SC company’s plant and premises are in first-class ant j condition, and every insurable risk is v* otected. • .-a? I *.,} directors have al<o to report that during the month of : March 2289 of the company’s unallotted shares, were sold as undemoted, viz;— At a premium of 7s 6d per share, 1135 shares. : At »premium of 10s. per At a premium of ,25s per share, 123 fully paid-up blnrc.®. . And that further large applications for shares have been received since closing the books for the past term. The directors arc, however, now considering the desirability -of reserving the whole or a portion of the renaming unallotted shares until the result of future balances* became known, when your directors confidently anticipate the value of the shares will bo considerably increased, and tho reserve fund be thereby augmented.. H. By the articles of association all the directors retire from office, but are eligible and offer themselves as candidates for re-election, , • Toe auditors likewise, retire, and Mr. William Brown and Mr. Thomas; Moqdle offer themselves for election. ; : 1

The dividend and bonus now* recommended by the directors, if adopted by the shareholders, will be payable at the company’s office, Princes-strect South, Dunedin, and at the branches, on the Ist June, 1378. ; (Signed) -AValtkr Gctubik.

BY TELKORAVB. AUCKLAND SHVUK MARKET. (FHO3I OUR OWN CORRESPONDENT.) . AUCKLAND. Friday. Mr. Alexander reports:—Buyers: National Bank, 70s; Coloate* £ ac V 52s Cd; Auckland Gas On; £lO 10s; 3^ s ; Queen of Beauty, - Js. Sellers: Britiflh/725: Union, 14s. Cd. : fFEU PRBrifl AGBNCV.) : ' ; NEW PLYMOUTFf, Friday., ■ At Messrs. Courtney’s cattle sale the following nricea were realised:—Store cows realised £4 10sto > sa* IS months' steers, £4 ss: store cows, witli calves-at foot, £0 7s 0d to £7 12s Cd; fat steers. £/; imported cow and calf; £2O. . CHBI3TCHXJFvC IJ, Friday There is aa improved tone in the grain market. The wheat enquiry is good, some large parcels have recently changed hands; Local quotations arc as ; follows : Wheat, 4s 4d to 4s 7d; oats, Js .d tp 3s 8fl: barley, 4« 9d to 5s Id; potatoes, 45s to 4. i 6d; flour, i £ll to £l2; butter, 8d; cheese, 6d to sjd. AUCKLAND, Friday: Flour, £l3 10s; bran.'£(>; pollard, £6 10s; maize, -Gsfid; oats, 4s 3d; feed barley, 4s; bacon and hams, 8d; cheese, 6d: potatoes, £3 10s. - - Mr. BuckUnd reports ;—A> ell fattened cattle in good demand at 20s to SOs per lOOlbs; inferior. 20s. Share market sales to-dayßank of Ncw Zealoml, £3 Ts 0d; Colonial, 535. Buyers: National, .Os; New Zealand Insurance, 90s. Sellers rSouth British. #2s Cd; Guthrie and Larnach; 47s Cd ox div. sales—MoanaUSari, 02s Cd; Alburnia, 51a Od; Queon of Beauty, 7s. . ' , ___

- -it a. d. ftjplrlts ' » 3 OS 10 4 Wlno .. / <J 10 •4 Tea . 02 30 0 Sugar . - _ « . i no 8 .Ale (bottled). . 4 10 3

ii y. (1. Goods, wght 'J 7 10 Ad valorem . a ii 8 Total . £&7 10 8

of May, wow * B unaer £ 8. d. Spirits «« 1032 C 7 cigars.. •• 31 11 11 Tobacco .» 250 3 0 Wiue .. •» SI 11 0 Beer .. ■. . •* 100 18 0 Tea .. ' . 102 8 0 Coffee.. ' " 5 12 0 Sugar.. .* 187 0 G

£ 8. d. Goods by wgt. 110 12 4 Act valorem .. 828 10 10 OUi.r duties.. 16 0 0 Light dues. ■hipping, &c. 80 0 c Total .. £2930 15 11