COMMERCIAL INTELLIGENCE.

Oamaru Mail, Volume III, Issue 750, 5 September 1878, Page 2

COMMERCIAL INTELLIGENCE.

AUCTIl iNKIyISS' ttKI'O': TB. Mr. Georgo Greenfield reports that at liia sale of househo'd rurnituro at his mart, Tyue street., yesterday there wa ■ a crowded attendance. Tho biudinss were spirited ami tho various linos offered real sed rrgh prices:—l>ii>iii»-r'-oni suite, in lno'-oeco. I 29 ; mirror. LlO Ml ; waimir, 100 aUe. I n ; fliiuni' vavo- and -tan is 1 2 2s *»d I 2 :>- pe pair; canterbury, ' 2 ; Mdc-addlo, J 10 ~ ; carpel a, 1.8 If.-, L(> la . 1 4 Ills: - feather beds, wi.h bo].-e,s a,.d 2 p if w each, L 5 and 14 18* : kitchen rixime, lios cheffonter, I 4 7s ; b-d-stead, 1.7 l->.% and the other goods a' equally bijb prices.

MKLBOU ui\' Gli IN M,\RKE!\ (Prom the Ausu; las!au, Aumi-t 31.) Not mull) change has oeeurred in the breadatulf-i market m»' i he date o- our la-i reiiort. Coin.try arrivals ..f both Wo Ka- d flour for tho we. k en ing'l ist -atnrdav wer conside-ably in exeess of . lcvois week.-, and fully ac.-onnt lor ill ■ >ea t-m • on ceil and tlio d-op oi Ld per uh. • o prhCi'uini/ ut iiu nl. o ' i we. k. wliu.h luul t.. ' t.«». J <•-«*«> trade sales o'llj' of 11 >ni li.x\ ■ Vein ni,i..in. at LIO 15s; whdst wheat lrr< been s»hi aCs Id and 5j 2.1. < -'ts hav■ great firmness, anil owing to the paucity o supplies much bnsines- io i'd nor. he do >. On Tuesday, V.0t... uin loowu oat-' «'erquitted under the h .miner :.r ;>s U.S t !. flc 2id, and for very fi ie hew Z alalio milling a« much a* 5n -lid wa bid, but ie fused. Privately. 5< 4.1 was o.lered h.r a fair parcel of milling, also vir.. o'it leadms: to businoss. The sr..ok on hand is 'l 'lit. and holders aro ve.y stiff indeed in their ideas. To dav, sales of hue milling hpve been made at 5a 4d, and parcels a'e under offer at fia 5d ; we quote feeding 4s 10d to 5s Id. Maize is rather easier, a temporary busin'cHs having been caused by the arriva tier steamer of 5000 bags, but importers do not care to press wiles; to-day. however. 3000 bags have been sold at, 4s / yd to 4s -d, the balance being held for an advance. A line of 20 tons bran was sold on Monday ioi export at Is 2d, and more is now wanted for tho same purpose ; pollard we quote at Is 4U to Is 5d Victorian oatmeal commands ,L_i>; pearl barley, I 3d barley b0.».« off j ng. our quotatioi.s, Gil tor uirvHing »uhl to 5d 3d for iwthi\& aro u.-nniutl.

UNION BANK t;F AUSTRALIA. From tlie " Money Market Review" of Jul> 20. IS7S The cenwal im-eiing oi tlio in the I inou Bank of .Australia «as he .1 ■>., Monday, in the board-i at I tin olhees. Bank Buildings, l.oihhu>y, lor the purpo-e of receiving a rei><> t and statement ot ae counts, and d. coring a 'bv deml >. it Charles >l. Mills, . M' l • l^'Suled. Mr W U Newbiu », li e Manager. rend the noiice calling >' eo.ii.-, and -ho rooand bMiwio! sheet of 'lie Uii-uutois, w l .,ch are sub] .»•''> : '•;' ' 11,1 f ' e " , thoDi.ecto s of the I inon banK of •■.u-tra-lia, presented at the gem ra me t-ng of th---proprietors held on the I.) h July. At (l ithe f-rtieth Annual Met tint; of the proprietors, the Dir.ct»rs have 1 1--a-iiro in presenting a balance sheet which tusi lll * " the continued prosperity of t' e bank Att ®' ample provision lor eve y had ami doubt fulcl.bV, the a c-u t- adm t of * divn end •of 1.1 15 il l,<n u * ;>s l' ,,r "hare, hen.g together a' the rate oi 10 |er c -lit. pm annum upon the shares 10-ming thy capital of 1.l £50,1X1" ;wdOf <i dividend or 17* Oil. and of a bonus of 2s 6d, per nhare upo-. the HOW Bhareo created under ie; Ollti--tis Of the apecial meeting* of p' optieh.rs held on tin 14th and S" li -lanuaiy lam. It wnl U- oj eerved thai effect h .s been g-ven to the nBolutioiiH pasned at t,h> se meeting* re a .i\. to the auniiirntatmn or the ic erve tu (b. Of the allot uieut of new sn.w, in London, ' there remain. a* this oate 116,. sha es no t'dten u, S nnd t.- be deab- swth. Out t these, the ld.eto.-s, m tu themncc o the policy of i'X'i nnng tl.'' B s '.° ° la . prietary, have placed 5'..C» *!<*'««• in th- hnndOf the General Si ami-, r to.- >'«'o '« the to." nies. Iho balance viz.. i;?>7 .; hare-—tli-.v have decide.! to realise, by uiotfiiir t> inters from proprietors i-egistere.l on ill ■ —*>t J » June, the tenders to be open-d on ."lid. <;ist., and theallotments to be made to th ■ bidders. The annexed balance sheet, presents a net anv'lint of pvotit of I<ll7, l«5o G 6 1 available for division, of which ihe d viden.i a'd bonus on the Blares fonniiiL' tie. capital ot i.1,250,<1t10 will absorb 1.100.01.0, and a iiv'ietv thereof on the new shares will amount to 110 001) log..:;her i 11'.i.000. If-avini; I>7 i M (i .tid to bo e.n ri-d f .rwar<i. The dividend wan ants svU ; be tr.-iiianiiti.ed bv pout, on the 2'2,i.l i"si. ai.d th- .i" vid iiv iird boeu" wb * ab.o in .iu, t.\,U>..ict, Hi such time as'the -e.e i rai HKinaye'.' shall tlx after receipt of teleL r rani. r riui l.dlow ing is a statement of liabilities and the bratjcheß on- thts I Vcenine.-. lb/;, and at. the London effi, e on the 29th June, 1878:

(Signed) It. .T. Asiit'in', Chairman of Committee. W. it. MEtt'tiU \, Manage-. R. LircK eh, Accountant. Lon 'on, July il. IS7S. I liu i.lii -ni tll said he ne -il not detain the ■diai eboldm's at any 'eg h On that, the f i-t.io li anniver-ary of t >n; B.ink's existence, he ii'>!■("<1 the i'irectors wmld nor be wro g mi exoiv.sing thesr g a-ifi.-ation—in wh>-:h he thought iho sli-i' ei.o'ders would join—».t lie sieaoy mid continued nrogiess < .f tinB k and ihi; nrosent po ii.n of it* »ffiit« ilio d vidtmd of 16 pe>- cent which had eon d.-ol'i-ed f.ir Mime yea-s li.d lie.il iiiai-.taiiied, a- d in addition to that a nmie'y f div ih n 1 h d i i-eii ji id on ihe shares •co- iuiy i sued, hough on he3l-t Oi comber, im to wliieh ri■• <• tlio aeo on a w re in.-oto 'up, tlio eapitd h d nor come in'o ci V" .'it**', hi li t e ba ho t-d ' hj ;! ii tie I'll ■ ie'h ■••no v •i-:ir\ .f theßmk'- .xi-oe c he would hie bee • a le r. ■ draw -' 111'-' Coinpaiison '-(."ween it-, pres. ill Mid former ii : bn-., i(ii ouking it tUe old repo; t-s, "e i.i.uid ni-nti-n was made of th«■nnount of dci-.ri.--jt*. He supposed the Kank i >d sotii", but, iievliaps, sn lii-tle tl'at it was n't d»-emed nec ssai-y to them into ae mi .t f.i- the tmo i e : ng ; for til >t rea«nii ue wa- lmaMe lo'in -t-1 ute a i-onn aris..n beween the then position f r 11■ - Bank and ns no-ition;-at tho .p'esei.t day. could, liowvvtsr iiisiituie a ''complete compariso etween the year 1575 ami ill ■ suliseq ient years. He thought it w-uld he seen from the figures which he was about to give that the Bank had made great proares-* since r.i at Lime. He found that in 1875 the deposits amounted to L 3,913,496 t in 1876 th y were 1.4,505,256 ; in the year 1877 they had inc- eased to L 5,842,415 ; and in 1878 the doposits had further increased to L 6,733,3,80. He considered that a most gratifying statement of tho improved working, and a ; so of the increasing popularity of tho Bank. Takinc tho total liabilities, lie found that in June, 1575, they were L0'.785,203 ; in June, IS7(>. they lu>d iucre-iscd to L7 : 7S3,(jSO, and in J tine, liijiticd for (>i2, whilst tor Juii-". I -.73. ti:ey we-e L10,43-2,35i). Then wirli regard to tim (.rolits In the vi ar .ml Hi -itine. ISTo. they amount d io 2'.,11.707 ; in 1 S7'». they were- about, tile ..•line! 1.201.3-15: hut in 1577. they h.d in ere iseil to ; 221 o-i0 y an ' m IS 8 th' y h'd I'nriher ii.c-e sed to 1.2:w 7<>'s With regard r,.i th- lialf-vear which luul ju-t been c.-n----e.lnd. d. though tho mil details had nt re c'ned them, yet the Bmk had te : eg.'aphic information from wlrch the B -ard had eve y reason to beli.-ve that the accounts %ve.e I'nllv ns safsfactory as those of any previous lia 1 f-vea l ', if not more so. In the accounts nhini i t tid to the memi'g that day, lie assured the shateiiolders that every possible u-ovi'-'ion hid lieon oia.le for all bad and doub.ml debts.— t \x>vt.]

iiijiD t.n'iEs." £ s. d. Capital New Shares —issued in London, C881.. l,2oo.000 172,025 0 0 0 0 New bhares not taken up, i'201 JN&w Shares for Colonial allotment. 1918, on which thero has been as per advices Rceorve fund,'aa per contra .. 45,191 0 0 *250,000 0 0 Other reaorve funds, including re200,000 serve* against bank premises 0 0 Premium of L33 on 0881 new shares.. 227,073 0 0 Circulation 413,389 6 0 Deposits • • • iiills payable and other liabilities 0,733,380 7 * (including 1 reserves held against 1,024,1SS doubtful debts) IS 7 Balance of undivided profits .. 117,133 G G £10,482,330 12 3 ASSETS. Spocie pn hand and cash balances .. 1,140,472 0 11 Bullion on lu.nd and in transitu *■0.039 ;*> iO Bank promises and property .. IS ,843 IA S 8 Government securit cs . 11 ,.80 Local I ills, bills lwceival.Io, and other Ss6l',C45 securities ' 5 2 JEteserve fund, invested as i er state2">0,000 0 b £10,432,330 12 s

, STATEMENT'OF .PROFITS. Balance of undivided profits at SOtli 101,307 Vi 7 •June. 1877 '• of which a dividend and bonus 100,000 . «• w"i'o declared of 0 0 Lea\ ing* a balance of .'•» 4,367.12 7 Profits of the past yea*-, after N making provision for all b d and doubtful debts .. £353,5. 3'-6 *0 Less remuneration to the local Directors, ' and salaries a d allowances to t l *e Co!o?iial stuff, L7f>, *0 lis 2d'; general expenses in Vthe Colonics, including rent, taxes, stationery, &c.,'L2 ; 5J is d; r numeration totho Board of ; irectors salaries of London office st iff, rent, taxes, stationer , and •-.V general expenses, . L ,19 iOa Id; incom tax, L3, lUa, 3d ; toial .. ... ■ 120,H*B 2 H 237,765 13 11 24-^3 6 6 Amount transferred to building and othorreserve fuuds in January 25,000 0 0 Dividend and bonus paid iu January .. 100,000 0 0 125,000 0 0 Balance of undividod profits at this date .. - • • 117,133 6 6 RESER E puyrs. - New Zealand Imperial Four per cent* 200,000 debentures 0 0 Culonial Six per cent, debentures 50,000 0 0 250,000 0 0 Other reserve funds, including reserves 427,073 ag-ainst Bank premises 0 0 Tot-il rescrvo fund* £'i77,073 0 0