COMMERCIAL.

Dominion, Volume 2, Issue 606, 8 September 1909, Page 10

COMMERCIAL.

. INVESTMENT 1 SHARES/ A sale of Standard-Insurance shares at 235. was reported at yestefday afternoon's Bitting of the Exchange. The flotations were tinohanged. National Bank, buyers £5 Us. Go.; Wellington Investment, sellers lis. 9d.; Wellington Trust and Loan, sellers £7 2s. 6d.; Wellington- Deposit, sellers Bs. 6d.; National Mortgage, scalers £3; New Zealand,and River Plate, buyers £1 145.'6 d., sellers £1 15s. 3d.; Feilding Gaß, buyers £1 os. Sd.; Gisborne Gas, sellers £2 12s. 6d.; Palmerston North Gas, sollers £7 155.; Wellington Gas, new issue, sellers £2,75. 6a. premium;. National Insurance, buyers £1 Bs. 6d., sellers £1 95.; Standard Insurance, buyers £1 3s. 3d.; New Zealand Shipping,, buyers £7; Wellington Woollen, sellers £3 Is.; Taupin Coal, buyers: £1, sellers £1 os. 6d.; Wcstport-Stockton. sellers 75.; Leyland-O'Brien Timber, sellers £1 2s. 3d.; Now Zealand Drugs, sellers £2 7b. 3d.; Ward and Co., brewery shares, sollers £4 lis.; Taranaki Petroleum, sellers 10s. ;■ Sharland's ordinary,,'sellers', 20s. 9d„ preforenco, sollers 21s. ! 3d. ■ "" .

' AUSTRALIAN IMPROVEMENT. We have had ample evidence of the'great improvement that,has taken place in tho economic conditions of Australia. Banking figures, trading figures, and tho evidence of visitors from New' Zealand have all been favourable to tho Commonwealth. Further striking evidence of the great change is furnished by the Queensland National Bank, Ltd. At the half-yearly meeting of this institution, held in Brisbane a fortnight ago, the chairman stated that this month a distribution of 9d. in -the pound on the amount written off the original deposits would be made, there being £52,182 at credit of the private depositors' repayment fund. During tho-half year'two promissory notes to "tho Government, amounting to ' £172,195, were redeemed in anticipation of the duo., date, thus' reducing the bank's indebtedness ' under this head to £774,879. The. original amount owing to tho Government was £1,833,326, bo that tho large sum of £1,058,447 has been extinguished, and tho next bill docs not mature until Juno 30, 1913. The directors expect, howovor, to be able to make further substantial repayments before that date.. In accordance with tho Queensland, National Bank Agreement Aot, arrangements have' been mado to purchase a lim-ited-'quantity of: the bank's interminable inscribed deposit stock, and such has-been done in tho half year just terminated, tho amount isi bought and cancelled being £9853. The bnsi;ness of tho bank is improving rapidly; excluding capital and interminable inscribed deposit stock (£3,106,768), the liquid assets on, June.-•30 amounted to £2,551,091, representing 50.38 per cent, .of-: tho total liabilities and . about equal to those "at:'call. The'position in this respect is one of. great strength. ] '.' ~; . P. 1 "': IRO- PRODUCTION; '■'.-■:'■''. :', ', 'Statistics regarding> the 'world's production of 'pig iron.'in 1508, compiled by Messrs.' James Watson'and Co.. have been published-in a recent issue of "Iron and Steel." The figures show that in the period mentioned there, were produced 48,180,000 tons of pig iron, which represents a shrinkage compared with the .pre-* vious year of just over 12,000,000 and 10,600,000, compared with -those for 1906. .■■ Of last year's [decline the, United States,accounted for 9,845,343 tons, Germany 1,232,249, and-.Great Britain - 634,'136. The leading position for magnitudo of production' is, however, .easily, held by .-tho United States, which' last year produced 15,936,!018 .tons,' compared with Germany's 11,813,511' tons'! and Great Britain's 9,289,840. The position.' of- tho three countries named Is similar, to what it has been for. several years past.,.. 1 In only ."five countries • more iron was. made' than in 1907. These, with their increases, wore:— Austria-Hungary, 163,585 tons; ' Japan, 104,293 tons;-Spain, 49,420 tons; and Russia and? China lesser'quantities. Mexico, figure's in tho list for tho first time, this country having made 17.000. tons of iron. . v Great Britain's decreased output was distributed over all Her mineral fields', with the exception of Cleveland and Derbyshire.' !The .former district showed "an increaso of 113,879 tons, whilst'; the production :of Derbyshire continues to expand, tho gain in 1908 be- ■ ing 168,279' tons; \ ■ .-JAPANESE . .-';-. . Tho foreign trade of Japan for tho first Jo'iirmonths of the. year shows a'considerable fall-Ing-ofr as, compared with the, corresponding period of last yoar. Tho.trade total for thefirst four months of this' year .amounted-to' :£25,800,000, as against £28,800,000, a declined of '£3,000,000.. The'falling-oil..is, .however, altogether on the sido of imports, which have' decreased ■ '£3,900,000, whilo the ..'exports show'a' .healthy increase, tho figures standing; at -£ll;70O,00O, as against £10,700,000. .But it would bo hardly safe to conclude from this that an', all-round revival for industrial activtiy has set: .id,.for. raw silk alone suffices,to.account for.the, 'increaso in exports.'h'aving been shipped to "tho value of £3,500,000. as against JE2.SCO.CCO. Tho National ■ Debt of. Japan is now • over : j£22s,ooo,ooo..having bcoiiihc'reassd from £56,003,000 -,in 1904.. The; debt 'has' 'been raised' for tho. Jfol'•loving■• purposes:—.'.'.';' ..-" ■'-,',. '' -" ■"■ '■■■<■ v ; ' ■'• •''•■■ '•' '■■''■'' , '■■' - £ . . :;' Reorganisation-of public institutions i 311,546' Railways : 10,525,203 i? Harbours, canals, telephones, etc 3,849)155. - - Armaments 8,9401930'. War ....'.„;...„: 117,621.035 ' Old loans consolidation _ 70,253,360 Tobacco monopoly ...;...'.. ; '2,165,160, ; Nerf territory (Taiwan)-.•:;;.........::::'.:'... -; 3,364,164.. ■'" ','- "■'.•'■■•■'■.•:.'•■•■• ■■■'■'• - : £225,030,683 •■ this is taking.tho yen at 25., which is slightly below its true value. The dobt is rather over £4 6s. per head. Of, this debt £116,570,122 is foreign,, principally in. ; London.. The •population v of Japan at the close of last venr estimated at 49,232,822, exclusive of 3,081,006 in Taiwan (Formosa), and 26,392 in Japanese ■Saghalien. : Then, there are the protectorates of' ■Korea and Kwautung.. ~.;. ..... ■'I';' . WHEAT.AND. FLOUR. :.. k (By ' Toleßraph.—l'russ Assoclation.-bopyright.) . - London, September 6.' The quantity of wheat and Dour afloat for the 'United' Kingdom "is 1,980,000 quarters. • and for the Continent 1,250,000 . quarters. Atlantic shipments, 332,000 quarters. .--.'■ ,-''■' . SILVER. ', Bar silver is quoted at 23 13-16 d. per ounce standard. " : •' : '■■■■' . ' BRICES OP METALS. •' (Kcc. September, 7, 11.40'. p.m.) . ■ .'.--' London, September 7.' ' Copper: Spot, £59 Is. 3d.;,three months £60; electrolytic, £60 10s, ■■■■■'. Tin:. Spot, £137 65.'3d.; threo months, £138 10s. Customs..revenue collected at' Wellington yesterday amounted to' £6,829 6s-- ...