COMMERCIAL.

Otago Daily Times, Issue 5423, 7 July 1879, Page 2

COMMERCIAL.

Daily Tinwn Office, SaturSay evening., Xh* amount of Cu-v..nw Kovenue received to-day oa fiodi «nter«d (or con-in motion w»» as follows:— ,: ■ ■■'■■'■',''■';;t '.■«. -.'."'■'■ -.1 a d jßrwd; .. . 119 9 1 Tobaccu .. S7 12 0 Whltkj .. .. 4a 16 11 Tm ~ .. 3 ltt 8 Ham .t-..i ■•'.■;-.•.' ■** '8 1Q Buzur.. r .. (3-1.4 BMmt .. "■• :. S: H 6 Soiidries " .. 87->'l4-=S WIM ■.; l:.. .JT■ 6■ 2 - ■ —" ,;;. in,: .ToirU:,: i, ~-■., .■ .■ .. : jt7»l. a 4' 'As on VTednetdiy lut we published our usual 6um* nJary for the BUz mail; elVlnjr ailelailed report of the' present position of the import markot,* and nothing £v tranipirtd B'nco requiring speoial notice, we rtiar our readers to,cur ipsuu <t that il.to for any information desired. Wo hava to report the arrival of ti.o J. M. Bubch, irom Mtturitius, and notice that her caigo «f auguit to be offend ht auction on Tuesday next."

PROPERTY SAtB.

Them vs." & large attendance at Wttson'a CommeroUl Hctd '.'H Saturday altefiioon, when a largenumbor of freeholds in the Ucoley Katata were sold by D. Held •ndiCo.i'Jn jojijuriettoii, wijh M'Laridres^ fltpburn, and Co. and the New Zealand Loan and Mercantile Agency Company. aU the sections offered were sold. Tb» followinf; are' the purticuhrs of the sale:—.

PRODUCE MARKET. ; \. Messrs W. L. Lna and Co , ropott:— : Corn Exchange.- Wheat: There has bean more Inquiry frr export during the week. We have plaoed 3000 s»cka fair to good milling at43t0453d,f.0.0.; otherwise the market hat been Tory quiet, mtlers opeiating with txtrems caution. The tone ot tha market i« not firm. O*ts are extremely dull, scarce y »iy moving, a few seed sorts being the only inquiry. Tub Melbourne and other Australian markets diclini<ig in values. We quota feed Is lOd to Is lid; milling and seed, at 2<t to 2s 2d. leidoahall Market.—Potatoeß have still an upward tendency. We experience a good demsn lat £610 ito £7 per ton, according to quility, tho latter for primo Oim>ru A good deal of oamago is reported through Mood water to the potato-pits, which Increases the firmness i.f country holders. Butter remains quiet, through there Is tome inquiry for export. Bacon p'gi, in carcase, are unaltered in value. . Prices are likely to imjr jvc, aa supplies are falling off.

SHARE MABKBT.

Messrs WHiraiiAW.iKP Co. report for the week ending 6th July ;—

Insurance—National, 18s 6d; New Zealand « ,; South British,6oj;Stindatd, 13s 8d; Union, L2n 0 ■ (oumdiv); Colonial, 4i. Bauksr Colonial, 896 «d(c'jm >ny) ; New Zealand. £18 6); National, 62s 6d. Miscellaneous— Just-ln-Tim) Quaitz-mininp Bompany(Rectton),4b6il ; Keep-it-Uark Quartz - mining Company (Aeefton), 17s 6d ; Hopeful Quartz-mining Company (Reo;ton), 203; Welcome Qaarti-mlning Company (Reefton), 39i; Cromwell Beef Quartz-mining Oornpary, Hi Bd 10 455; KidtaiiicaU Railway and Coal Comparjy, £6; Mount Ida Pastor*! Investment Companj ■, £9; New Zealand Shipping Company, 70s ; Union Steam Ship Company, £7 10s ; National Mortgage and Ageocy Compmy, 19s 61; Mosgiel Woollen Factory CVmpany, Uia; . Forbury Park Company, £22 109 to £25; Outhile and iarnach's Woodware Company, 663. Money secured on freehold property, 9 tuid 10 per cent.

Mr J. A. UACSBfiua reports for tho week ended sth July as follows:—

Bank of New Zea'and, £13; national B&k rf New Zealand, £3 6s ; Co!o.,i«l Bank of New Zealand, £1 19i; National lnsurai.ee Company, 18s 6d; Standard Insurance Company, 133 6d; Union Insurance Company, 13i; Colonial Insurance Company, 4s; National Mortgage and Agency Company of NewZealaud, 19j; Cromwell Quartz-mining Compjny, (Lmaed); £2 6s; Welcome Quartz minitg C.mpany (lleefcou), £2 (cum dir); lioep-it-Darn Quartz mining Ccmpany (Eeefton), 19a. '

He J. B. BRiDsuiW reports the fo'.'owincr aa the market value cf shuesfor weekending Saturday, the 6vh, viz :— w .-. . ■ • . . .: Bank of Kew Zealand shares, £1S to £18 sa; National Bank, 05j ; Coloi.iil Bank, S9s 10 39s 61 ; National Insurance Company, 17s fid to 18s; Kew Zealand Ineuriuice Company, 60j; Standard* Insurance Company, 13a to 14s; South Brlteh IlSjrunca Company, 5Js to 61s; Union Insurance Com »ny, lit: ed to 13s; Colwtal Insurance Co-iipniiy, 4s; utago atd tjouthlund Investment Company, 27s 6d ; Kaitang&ta ' Railway and Coal Company, £6; Walton Park Coal Company, 12s Oi! Mosgiel Woollen Jactory Company 6js; Forbury Pare Company, £25; Union Steam Ship Company, £7 103; Cromwell Quajtz-miniDg Company.,46B to 60s; National Murtg.re and Agency Company, 20a; Scottish and New Zealand- Investment Company, I 61; Otajjo Daily Tunes and W.tuces Compwy, £6 109.

Money secured on tieehold property, 10 per cent.

UNION IS3IJRANCE COMPANY.- SECOND GENERAL MEETING

The second general meeting of tho Union Fire and Marine Insurance company was held ou July 2nd, at noon, In ihe Company's Board-roois, Hereford street, thrutchurch.

There was a large and Influenthl attendance of khkrdholderu, and all the directors were present. The Hon. J. T Peacock, chairman of directors, presided, aad opened the proceedings by calling upon the general manager, Mr W. Devenish Mearev, to read the adve> tlsement calling the meeting. The Secretary read tho. adverdaement, also the minutes of the last annual meeting, whlrh were confirmed

iheChal'rmsnsaid he presumed that every shareholder present had read the report aud balanoMheet, which he would therefore take as read.

[ I'hey have already been published ia the columns of the oia;o Daily Times.] Th« Chad man then moved the adoption cf the report In the falU wing words :— Gentlemen, In moving tho aloptlon of the repcit now laid bß'ir« jou, 1 will take tiu opportunity of sayin* a ftw w>rd», in oider that the fbareholdors may be made thoroughly acquainted with the po.-itlon of the Cumpany, although no doubt the report itielf is very full sa far cs the actu>l result Is concerned. The conservative policy whloh the directors l»3t year intimated they were determined to purcu , has been >trct]y adhered to, as evidenced by the large amount wo iuve pali for reinsurances, and we hive no reason to lepo t having taken tuoh a cours.B, for although the losses (which have b«oa common to all insurance companies; are heavy, they might have been greater, far »t no period in the history cf the Colony have losses been ho frequent or so great as dm ing the present year, comment ng Ist January, they having amounted in the aggregate to at le»st£lß2,Ooofor flic, and for marine £70,000, prominent among them buifjg the recent conflagration in Wellington. Tho Uis-a net covered by insurances at the latter fire are eaid to amount to tt least £tiO,COO. Of course the grot.st amount of eire cannot always prevent, losses, still me chances maybe leisened. Durlrg the past year your directors have hid before them the que<tion of rates, which at one time threatened to fall to an unremnnorative figure. lam glad, however, to s'iy that prudent counsels have somewhat prevailed, and that matters are now on a better footing than they were a few moi.ths a/o. It will no doubt be uratifj me to yon to leard that notwithstanding tbe lac: that a large number of our shares are continually changing hinds, still they are held in the varloUß towns of the Colony almost exactly in the same proportion as when they were first allotted. This, I think, is encoursging, as it points to the fact that our interests are well scattered throughout New Zetland. By the articles of association calU were to be rnida at fixed periods until 2Cs per share was paid, but discretionis given to the directors to defer such calls should they thick proper. After considering the question, we came to tho conclusion to defer them for the present. We have every reason to believe that this course met with the htai ty approval of the shareholder!. It may be that fuither calls will be unnecessary now that we nave been able to carry so large a mm to a reserve fund. You will observe that a small portion of the culls made is in arrests. These arrears have been considerably reduced (.face May 81, and on the whole the amount canno: be considered excessive, for out of a total of £76,000 callod within a period of 21 months, rither lea than £iO(i0 remainsunpaid. Since we list me-, the directors hace puichueu an office on a freehold silo at Wellington in a very good position Tho Generil Managjr has during the jear visited all lha branches and reduced our risks at such places as ho considered advisable, and reported favourably upon our prospects and business tenerally. While on his visit t.O;Australia, hs esttblished branches in AdeUlde and Launce^tan. We are now doit ga. very f..ir business a-, these places, and with tvtry prospect, of increasing it. SiEce Ilait addressed yoa, our cfflc.a here have been complnttd.'and we have now an admirablyktm ged head c-ffloe, with suffloient accommodation for our reqiiTemontj for years to come, while ettndlog at a moderate rontil. In concluding my remirks, I tbink I cm jujtifled in congratulating theOompaoy on its success. No ether, Colonial Company hos attained so prominent a position, oc received so large an smount of premiums. »t m ca ly a itsgeof its existence. It hss.prceaiol by careful seltctlon a cliss of officers and a<>-nis who, by their perfevtrance, haveoont iwtcd t*fu-li eucceis. Our np«eentati«B ate a p. dy of {rVntvoien with whom we have every leasuu to be plbu'ed, and wboee conn. ctl n with the Conpat.y cannot fall r 0 be of miterial tdva-.tege to vi in the future. Yoar directors and oihcjrs hsvii g itiivou hard to do th. lr duty to you, I v..-> a-k >«fu to do the same by tbem, and assist them In their sff.rts, not onlyby bringing them your own business, but by endeavouring to securs for. us tbe support of your friends. I big to move the adoption of the repoit and balance-sheet.—(Applause). ; 11 r P. Cunningham had very much pleisure in seconding the adoption of t))e report. Having read the ralacce-sheet and very perfect report, and hsving heard tho explanation given by the Chairman, be thocght it was quite usnecess >ry tit him to mike any further remarks. He would simply «ay that he behoved the shareholders would all agree with the directors that tho Company have great cause;to con(tialulate themselves upon the success attained during tbe past 12 months. Such a report earning »t the end of so critical a peiiod ai has been that of the past 12months, was certainly a good cause for their being pleased with the year's results. Ho was certain that when tin time came for the shareholders to expro»s> their opinion as to the manner in whloh that result had beon attained they woud do so most cordially—(Appliusi.) Tha Chairman asked if any gentlemnn present had any remark to make.

Thero bdng no response to the inTitatlon, Tho Chairman a*td: Aa no shareholder" winhes to spei«k to the resolution, or to oik *ny que-tion for the «ako of obtaining additional Information, I shall now put the resolution. . The.»doplion of tho report was then carried unanljnoudy.

The Chairman raid that the next business was the election of the directors in tho place of those who were retiring, but» ho were of c urse eligible. There were no other (teutltmcn offering thomielves as candidates for tho office. ■

Mr John Andeison had much ploisure in proposlrg1 that the retiring directors, namsiy, Messrs J. T. Peacock, Q. O. Stoad, and W. Keevei/fcs re-elected. Seeing tho balance-sheet which had boon presented, he thought it w«s unr.eces;a-y lor him to tay one worJ in rccomraenditiori of those gentlemen. After the manntr in »hichthoy had fulfilled the duties of tho position during tho post year, he had great pleasure in proposing their re-election.- (Applauso.) Mr Coivllihaw had great pleasure in seconding tho motion. There was no need for him to say how ncce siry it wan that the Company should continue to have tho services of tuose who had been namfd. The tbareholders had every reason to bo tatlen>d with the report presented by the directors. It Indlcattd that those geroltnwn had given a great deal if their time to the selection of the risks when th» d mpany had bean safoly steered through so critical & time es had been experienced during the. past 12 month?.— (Applaupe.)

The roßomtion was put from th« chair, and vi animonaly agreed to. : The Chairmain aiid that the next business would bo tho election ol auditors. Messrs Wright and Harloy h»d retired, but were, like the directors, again •'.iglb!'. MrT. Aoland bejjKed leave to propose—" That Mr F. K. Wright and Mr E. S. Harley be re-elected aa auditors." These gentlemen had done their duty with thorough tflbie-ncy, and he did not think tho Company couM hive better auditors.' He hoped that they would have pleasure of auditing next year a balanceaheet even better than that of this yeir.—(Applause) Oiptaln Clogstoun btieily seconded the motion, which was unanlmoosly agreed to. Mr 0. Q. btead begged leave to propose a rote of thatki to the Qeneral Manager and the cflicars of the Compan).—(Applausr.) Onoof the shareholders, Id moving the eke lon of fresh directors, had remarked upon tho care the directors had diiplayeil in looking alter the affairs if tbe Company- hart, in fact, said that the energy of the directors In that respect had in a great m«a«ure enabled them to bring before the meeting so Batbf totory a balance-sheet. A3 one of the directors, he, however, might take that opportunity Of laying that the General Manager and the officers had had a great deal more to d) with the satisfactory result than had the directors. But few were awtre how hard the General Manager, as well as the othor officers, had worked In looking generally alter the nterestn of the Company. He would not lay In a great measure, but would say that almost entirely the suoce>s of the Company wai due to them. He had, themfore,.very great pleasure In proposing that a htarty vote of thanks be given to tbem.

Mr T. iL Hissal bud very grest pleasure In seconding the proposal. As a dlreettr hg hid bad Y4ry great opportunity ef obierving tho General Manager, and he ma certain that if th« whole Company belonged to that gratleir. Hi h« (MrMcares) cculd sot take a grsater Interest than be did, as had been ibown by tho gnat rare with which be had organised the st«B. Bo (Mr Hatsal) entirely agreed wiih Mr Stead in the opinion that the mott Important thin; was that they ihould have a food general manaier, and thought that they mlghtcocgralulaUtbemielteiuponhaviogjecuredone. Hems sure that il they showed their apprtclttlon it would he to a gieat extent a spur to their General Mansfter to netr in thel Interest lor tho luture.-(Ap-planie.) ■ •

The Chairman »«ld th»t hefow, he would pat the resolution1, be wished to say that h« cordially joined lfl th«. good opinion hU co-directors entertained fat; Mr Me&rea. As Chairman he had a great de»l to do with the Manager, and must say that no man conld show more interest in the Company than that gentleman hid done. He hoped the meeting would unanimously accord the vote o( tbanki.—(A.npli»use.) The resolution was carried unanimously. Mr W. D. Uearea wu ver j much obliged to the meeting lor the kindly way la watch the vot« ol thanks had been proposed to be glren to himself and to the representatives of the Company. The directors h»d »pok«n very kindly of whit he had done there. They had come into contact with him, and of course knew what work he had to do and in what way he had done it. But they had not had. the opportunity of comlDg it,to contact with the various aeenU and managers of the Company th*t he had had., He was glad to hare that opportunity afforded him of saying how ranch the Company waa Indebted to the branch manager! and agent*, and alto to tha staffs at vatioua places. However energetic a manager might be, he could not make a business unless he wat supported. He could say that tie Company had been well supported everywhere by their managers, and It waa owing to that support tout so good a nault bad been obtained as waa shown la the report. As had been remarked by previous speakers, the year had been an exceptional one, and they had had great commercial detention to contend against. Whenever there was great commercial depression there were sure to be numerous fires. The management had had to ezerclie very great caution, and ho thought they had every reason to be satliflod with the reralt. He hoped that next year thing) commercial would have improved, and that they would have laid bsforethem a better balance-sheet than the present.-<Applame.) Ho was qiiitoßure that the manager! and agents throughout ibo Colony would appreciate the vote which had Just been passed. For himself, he eoolrl say that he appreciated It most heartily, and thanked (the directors for the kindly way in which it had been proposed, and the meeting for the way in which it had been received.— (applause?) , The Chairman said that that was all the formal bußiness to be tnntacted, unless some shareholder wished to brine anything forward. Mr W. J. W. Hamilton did not think the meeting ought to separate just then. There was one duty he thought the shareholders ought to perform on'.occasiona of that kind, and he conld not imagine a more pleasing one than it was at the present meeting. When they had had laid before them so handsome a balancesheet, they could not do less than give a hearty vote of thanks to thejjlrectors for their successful management during tu&TJist jear. He begged to propose a .hearty vote ef thanks to the directors.-(Applame.) Mr J. P. Jameson begged to. Becond the resolution. The mttlon was carried by acclamation:1 The Chairman bogged to think the meeting on the patt o« the directors for tbs vota just carried. Their duties wero rather arduouß, but if they received the tranks of the shareholders lniOO cordial a manner they were sati-fled, more especially when they could come before the annual meeting with such a balancesheet as tbty had this year.-{Applauae.) : The meeting then c&mo to a close.

' Price rer B'ock. Ecotion, Purchaser. Acres. Acre. £ s. I 50 " ' ifrJaniesM'Nab 8 H 16 -„ 61 do 8 11 6 „ 62 . do . . 8 11 10 „ 6S . do 8 11 10 „.... lUo,49,.MrJohnHoberts.—86 ., ... 10 10 „ 51 to 61 do 88 10 10 „ 1 Mr Thomas K'rfc 19 fl 0 „ 2 toll Mr John Roberta 479 8 5 „ ■ ■' J6.-v- Mr Thomas Geoiff* :>8. 8 10 „ ' 24 MrW.Shnnan 123; 12 10- ,, .23 ilt Joha Roberta 107 7 IS - „ .::;:asii& . .. do . ::isz" .7 6 ., . 27. 28b , .,'io '. . .138 . J> 10 „ ," 27,28, do . . 140 ' 6 6 ,, '.29,'30' do 829: 6 S „*"' 31 do", .." '218 ■ 7 6 „ 82 do 28 7 6 „ Fait 85s VrWm. Heenim 27 7 6 ■„''' :S5~ ;; Mr Jno. Robert U6 7 B „ 34 ■■" <lo 118 7 6 „ 83 ■: • • do 112 8 0 „ 30 do ,142 6 0 ,, 37 irE. B. Cargill 168 6 S „ . . 38 . do 168 6 6 " ?a'l? J-MrJ.Roberts V392 5 10 „ 16, 16 A J ) U 23, to 25 Mr John Roberta 82 14 16 „ 17 Mr AimtsM'KeiTB 10 10 16 .„ 18, 10 Mr John Kobiirts 20 16 10 „ 20 to 22 do SO 14 6 I 1 JlrM. tcech 2 1810 „ 2 Mr James Tinner 2 17 6 " B Jlr John Will 2 17 0 „ . 4 ■, i ,Mr8. Kenny 2 17 0 6 Mr ffm, M'Kinnon 2 18 10 „ 0 MrJomeaM'Ntb 2 18 10 * . 7 Mr Peter Sinclair 2 18 5 8 Mr M. Fleming 2 16 10 „ fltoll Mr James K'rg 8 15 0 ,, li,13 Mr David H Kerala 6 16 0 „ 14 to 18 Mr John Roberts 7 1-2 6 III 1 to 7 iJr John Bruca 76 13 6 „ 8 toll Ur John Eob<rts 1M ISO ,, 2a, 23 MrJtimashand 346 9 6 „ 19 Mr John RoberU 142 11 0 „ 21 ;tr James t hand 121 9 0 „ 17 to 18 do 327 8 0 „ 16 do 1«7 10 15 „ 16 do 3E 14 10 " 16 v r Peter Sinclair 12 10 0 " 12,13 Mr James Shscd 88 15 0 I 29 to 31 J'r All»rtDornwcll21 12 0 „ 82 to 40 MrK. B Carglll 90 12 6 „ 2Cto23 Mr John Roberts 20 11 5 Fj<rmb OK the Hill. Block. Section. Purchuer. Aired. Fxlceper I. 1 Mr Jl ho Roberts 471 £1 fl „ 2 do 289 1 10 „ 3 do 460 8 9 M 4 do 830 2 1 „ 6 do 476 8 C LbabmioM) BiBinvis, held at a low rental. rBlock. Section. Parchimer. Bental. Acrf» V. 1 Mr E. B. Cargill £50 172 „ 8 do 160 «9 3OW3BHIF of Hbxlbi, conUlniog J-acre each aectlon. St«tlon. Forehaser. Price. » to 68 Mr G, Joachim £9 10 eaoh C4and6S Mr M. Flemlnc ■ 610,.,, K to 77 WrO. Joachim ' 10.. 47 to » Mr H. Firming : 1 5 „ 89 to 4» Hon. If. Holme« 8 10 „ • SS and 26 do 0 0 S7an(i £3 MrK. F!«minf 7 10 , l.to-34 . JJr John Robert* : 4 16 each '■'as"to'88b' •" ' do' .', '■ . ' '*' 6 „: • ' mo total amouat rtaliied w« about £45,000. ;