FINANCE AND COMMERCE.

Dominion, Volume 2, Issue 313, 28 September 1908, Page 10

FINANCE AND COMMERCE.

•WELLINGTON STOCK EXCHANGE. ' There .was. no .sitting of the Wellington, Stock Exchange on Saturday, the day .being observed as a close holiday, in .honour ,of the anniver: Btiry of. proclamation' of Lthe .Dominion: ; BRITISH TRADE. The trade "returns of the United. Kingdom during the::first lialf .of this year .are' instruc-tive.-..There;.-was, a decrease in ,tile .'imports.of merchandise amounting , to ,£30,059,076,. and more that.one-half of that'reduction was due to smaller, receipts from the colonies and possessions: 'The.imports compare as under:— ' : •' .''A. 1 * : , First half First half : „ ■ " . of 1807. 0f.1903. Froni-jt '. .„-,t .' £ .. . x United States * ... 74,329,639 ' 68,493,397 ? ran A° lai/oik- - 27,300,907 Argentina „ ... 14,358,643 Germany ; 19,087,607 ' 19,111,072 Holland ■ •..., ... 17,471,217 17,441,425 • Belgium ... ... 13,954,008 13,476,305 Egypt/ ... v 11,629,958 ' 10,748,626 • Other; foreign ... 70,290,578 61,352,337 ' 1 248,402,587 234,421,175 First half First half . of 1907. "of 1908. Prom— ■ X £ . Australia ... 20.081,244 16,712,677 " . India ' ../ ... 20,290,381 - 13,498,332 . New Zealand - ... 12,858,593 8,838,496 Canada' .... ... 9,106,118 8,671,822 Other,.British '.-■ ...... .17,626,377 15,163,722 ."'V 'Vf. 79,962,713 "• 63,885,049 . The imports from foreign countries declined--513,951;412, or 5.6 per cent., while those from. <he colonies, were less,by: ,£16,077,664, or 20.1 ler cent'. ; These; returns occlude.- gold, •,silver -.nd precious stone's,' which would swell the AusTalasian and South African figures materially. Irgentina, owing to a go'ofl harvest shows the lubstantial increase of .£4,793,071, which'is very ; -trikiDg. ' . UILBURN LIME AND CEMENT COMPANY. The balance-sheet of the and Cement.- Company, Limited, for the year ended July 31,' shows a credit balanco of .£10,421 Gs. 10d., after writing off ,£3OOO for depreciation. The amount" brought" forward from* the" previous year was .£3204 ss. 4d.; ,tho gross profits on manufacturing account' totalled '.£13,965 -7s;' . 2d. Royalties and salo of patent rights, brought in .£328 13s. 2d:, and transfer tees-M 2s. 6d., making the total <£17,504 Bs. 2d. The expenses of management' amounted:to £2866 7s:'7d.';.interest and-discount," ".£854 ■ 16s; 9d.; directors' fees, J8179 3s. 4d.; bad debts, t J6182 13s. Bd.; written off for depreciation, .£3000; credit balance, i; 10,421 6s. lOd. '- The dividend for the y® a r is at the rate of '7J per cent.j and'a bonus of K per cent.- has been'declared, the dividend a™ bwius together absorbing -£3756 10s., leaving 16s. lOd. -to be carried forward. The businessVof-the company for the vcar under renew :has'- been'exceptionally good,- and the prospects remain favourable for the current year. • .

BANKRUPTCIES IN GREAT BRITAIN. . The; annual report of tho Inspector-General r in Bankruptcy for the year ISO 7 shows that tlie' total number of defaults in Great Britain amounted to 7599, with liabilities of .£10,888,127, and estimated loss to creditors of .£8,388.544 This compares with 8077 bankruptcies in 190G, with liabilities of ,£10,126,231, and estimated loss .to creditors of £7,926,211. Considering the disastrous panic, in America it is satisfactory to see that last year's records of bankruptcy compare' so favourably with those of 190S, but the loss to creditors in both years appear sto be extremely heavy. The details of the .-report.indicate', that misfortuno played but-a small part in the-financial downfall of those concerned, and generally, speaking, rash ' tion; outside their regular 'businesses, brought the debtors before the Court.' Such is the growth of this tendency that a committee was. appointed .some time ago to propose amendments in tho bankruptcy laws of Great Britain, and their recommendations aro now' before the Imperial Parliament. The reluctance of bankrupts to apply for their... discharge is again a feature; oftho report, the number of appli-' cants in 1907 having fallen to 766, out of a total of .4111 so situated. It may be safely assumed that those who did apply represent the clcanest failures on the wTiole, and yet out of. 729 ,cases actually decided .by-the Court, no fewer than 468 had omitted to keep proper books. This state of affairs can only be regarded as highly unsatisfactory, and em-, phasises the necessity for compelling baukrupts to apply for their discharge. As would be expected, great differences aro shown in tho valuo of assets when realised, as compared with that placed upon them by tho debtors. Five selected cases are given in which assets were valued at jC107,993, and realised only JSS3T, whereas in another instance assets valued at >,£20,422, realised .624,304, and a dividend of 18s. 9d. in the' pound, was paid by the estate. Th 6 report statos that to wind lip an estate in bankruptcy with tho official receiver as trustee costs far less than dealing with the same estate under a deed of assignment. A NEW FIBRE. . A syndicate has been formed in Melbourno to establish a novel and promising industry. For some years, it is related, a fisherman who pliod. his calling in Spencer Gulf, South Australia, suffered constant annoyance because his anchor becamo almost inextricably entangled in a dense fibrous.growth that covered an area of miles, and ofton reachod.witliin three or four feet of the surface. Occasionally he found a use for the weed. He' used it instead of oakum for caulking his boat, and found it answer very satisfactorily. Subsequently the fibre was brought under the notice of business men and found to be the "Posidonia Austral is, J ' - a remarkable, growth, of great similarity to jute tow; Large samples were rawed and cleaned,

■and it is believed that the di§?overy will bo of great commercial value. '■ The'fibre is strong, it'is almost non-inflammable,'and it absorbs dye. very : freely.lts'use isj'suggested- for' the folowjng, amongst many . purposes:—Upholster-ing;-woolpacks, corn sacks and ore bags, ropes, twino, mats, felting,' and tapestry; linoloum, packing, plaster making cow's hair), caulking ships, stuffing saddles, and ns u general substitute, for such, articles, as . flock and kapok, or.'for, cotton as a' -mixture 'with wool and silk." ' ~v; '. A British and American company has secured an area of five- square miles, and. an Adelaide company 'has obtained the rights to 16 square miles. The Melbourne syndicate holds-'ls square _ miles, situated about 25 milos from 'Port Pirio; . received show ,that under 4'feet of •water»'th'ere;iiß:-abont 12 feet of fibre, which can be cheaply harvested, for this purpose 1 tlitfcsyndicateipufposes ; tb obtain a special dredge, on which there will be complete accommodation for washing, drying, and packing. A series of tests will be made with,the fibre to ascertain its exact value for different purposes, and there will probably, be a public demonstration of its uses. . TJifl idea is to transfer the syndicate's rights to a strong company. Last week the Customs revenue and beer du'y collected at . Wellington amounted to .£12,320 os. lOd. and .£197,195. respectively, ana for the corresponding period of last year ,£13,950 lis. lid. and .£3Bl 14s. 3d. was collected.' The Customs revenue collected at Wellington <on Saturday 1 amounted to .£4043' 19s. lOd. .; LIVE STOCK AND PRODUCE. Messrs. A. H. Atkinson and Co., Ltd., Fending, report:—Oh Friday we held our weekly sale of pigs, poultry, and produce.' A faircntry of pigs earn? to hand. Competition was keen, an.l tlia yarding was cleared at satisfactory prices. Poultry sold well, and . the supply by no moans met the demand. Quotations:—Pigs weanersy 13s. 6d.; slips, lis., 16s. 6d„ 175., 19s. 3d., 20s. 6d., 21s. Gd.; stores, 255., 2Gs., 295.; (.small , sow, 505.; and two suckers, 405., 40s. 6d. Poultry. liens, Is. 5d., 2s. Id.; roosters, 2s. 2s. 2d,,25. Gd., 2s. 9.; ducks, 2s. Sd., 35.; turkeys, hens, 4s. Gd., 4s. 9d.; gobblors, Gs. Gd. (all at each). Cows, springing, ,£4, JGG. Produce: •Potatoes, 'pig, 45.; eating, 8s„ 95., 10s., lis., 125.,'145. per. sack; horse carrots, 4s. :6d. per sack. Factory bacon, sides, Bid'; hams, 9d. Messrs. Hudson and Marriott, • Ltd., Levin'' report having held their usual monthly.- sale of', -pigs at ■ Shannon on Friday."" A' : "good'' yarding of prime porkers came forward,; and there was excellent competition at ruling rates. They quote:— Heavy porkers, 475. Gd.; medium, 425.,'395.; light, 345. 6d., 335., 30s.- Stores were in good demand, and all those offered made big prices ranging from 245. 6d. to 30s.

WELLINGTON SHARE LIST. COMPANY.' Fg"°ndp| h^M-r1 S TOICES - • ' ■ ■ B&_Buk* « BANK8, £ ■ £. £ . V £ s. a. £ S. a. £ 8. a. £#Uonaf tend ~ — «-•'»- 2,000,000 C04,097 ,, 31 .. 815 0 " aUonaI - — ••• 375,000 561,363 » u I® 5 0 6 6 1 6 5 1 i0 518 9 INSURANCE / New iC *" W ™-°a> "«M» , „ nl M « 1 8 0 1' 8'6 '17 6 5 0 .1 South BriSah "* tl».COO -106,671 » K 813 0 3 15 0 3 14 0 5 8 1 •Kuwart •• "' 432,240 \ \l iS 2 13 6 215 0 a 15 0 5 0 1 • kuaaara ....... , ... . gM0? ta.saa | g| fg iie 133 , FINANCIAL. ' Equitable Building room 4S.243 V 10 2 6 Metropolitan Buliaing ... « Wnm &6b8 5 .. i 10 Wellington Invest.-....' - ;• «nnnn' ' • 6fcS0 *0 • •'*!* • 7 • ft 11 fi » .Wc-liingcon-Trust and Loan v... 1 joi'250 ' 4 « 6 S 7 S fin J-« c hatiouil Mortgage. ... . ... .JmoS) VM.MS 6 5 8 •'« o n i-1 l R NJ6. ancl' Kiver Wate •: ... ... 4 ooooo fc>ti,i69 2 m 10 i in S : i in' n 1 in a k k n fcoanui;Umku,,; : .;<H \ -jff: J o• oN 3 11 is J ' ' ' CAS. ■ V. '. •" - •- - lawro-' • «M63'. , : B U , 17 : .3610 0 15 Vo .510 0 :::. ..™g},.. ,«$ I■■■%. S 01B 6 o ; o*.o 6 «.» 1 '333 212 6 «»:•••« 6ib °-. e w i"iy moutli : .... ... 18*000'! - MM 'J .„«* $ . iiapier.: ... ... •... i 5 dii 10 /:::•■■ l' 19 '? 58,181: *° If ... : 3 7 e ; uji. *almer8ton"North !!! . Z 'Wcoo 1 11,092 ,i 15 „ r "• . „ , Wellington . » -'• ww J1,w " 4k " 3 . 10 7 6 C . -.7 - 6 0 6 3-3 .Wellington ... ... ..... ... U.Vad 10 nil. 10 : 18 1..6 ■ ■ . « ,» ... ... ... . ... ... I .. 6 w 11 0 II u :1..3 110 5 MEAT.- .. '' '• > ;/ ■' • -V - , Canterbury ... - ... ' ™™ CCJ .' ..' ' ' Cnristeburcb ... : ... ~ 74* - f}' • 7 12 6 1 • liear ... . ... : ... .• <7,U2 1(J . • d ji 8 '• ]0 0 0 « - ... f '12,000 1 • nil i. Vl\ «2- ? 9«0 2 10-0 .2 9 0 5 2 0 .Vveilington Meat Export ... ' 1 ' ~-i" ' •' ? 0 W 0 .916 0 . 1 '1::: ? : 47.95o \ ,f s 1 ftanganui ' .W 1Q1 t. «, s *„ '4 ' £3 ■ 8 *3 " 0 .3 1'6 '3 0 0 7-0 0 ; w , . 1 5 nil : 6 6 0 0 ' ; -.. transport, " v'" •' .7. '■ / :. ■' ■ ' ■'/ >.k a SMppmg ail * ay ' :: SvS - 1 •» 12110 213 6 - 2 o 1 0 ..... •* l/uiou bieaii ...ffflgS: .} m'. w' . .nil 5 ' '6 9 .0 6 10 C , 6 10 0 6-3'l' VftfUi. titeaiu Feixy ... , ... .;. -iA. 1 .:.nU.: ; 9} -'l.-li' 6- 114 9 .115:0 >6 8 0 ■ ■ .. •' ~yT7' • • . I' ,-, nil 6. ' 017 -6 ' • • COAL. -. ' ■ •' vi ; " ■ ' -.Wistpott £EO,oo6 •>i»,i31' ' Wif»""io> "'"b" 1 ?"?- • r : 8 b '■ " = ' iaupTJ ...• ... ... ' ... ... ISMUJ ,. Lvj 89 3i 125 6 i I .6 2 6 . , .MM. 1 nil 74 ■ 019.6 0 18 3 8 4 "6 .. woollen. Kaiapo' ... 127.765 , 5 '» ; ' . kosgiev •, ;a4W- 17,i±2 34 -. li \ ■ . .... ... .... ... 14,625; •?: V". j 3 5 .0 3 5 6 3 Vfl 7 4 0 i MISCELLANEOUS. . '■ ' ■ .. Ponagby. Kop'e , . . :■ 151 '1 , . 1 a'n • " ' lxjylana ana O llrien . ... "... i5,Uil. : ■ S7.H1 ,1 • ?{{.• J- 250 J??'' z \ 2 v : - ll&^iiu-z: / z-:y f/.»g ' «":» ' '■U7§' i - -i.i-0 1 9 0 1 8 6 ;, WarHnd Co . v. ,"'gg \ 1 10 3 17 6 3 16 6 10 0 2 F.8 6 -r j: S ; Jlf-f 18 6 i 10 o The abpTe quotatwns are taken: from tho daily official lists of the Wellington ' Stock .-Exchange. ;; .-. ; : ., ' '