COMMERCIAL NEWS.

Dominion, Volume 3, Issue 656, 5 November 1909, Page 10

COMMERCIAL NEWS.

■:■ ■'" : ' : ■ /JJ_ : . : ■... ■ ■ '■ : ?.,;/;;■-■' :' ; -!INTBSTMENT: . .A.sale.of paid; ;'ati£4 , ißa.--9cl. ;'waa' repott«d:..yesterday.:vNational , ~ Bank,-.;buyersi': £ s ilft:,'.'sellers ::'#>< Is,-;'- National Mortgage, buyers i£2 , .'i7s..Y6ellerß: £3;' : Now Zealand and. buyers. £l;fJsa.;;;'sVelling"ton Investment;, tnlyere. lls., sejlerßclle.;'6d:,: Wellington Trustvaiidi lioan, , 6eUere'-"£7;';2s.',6d':; Gis. borne Gas, selleres£2:\Us;r Nap'ie'r>Ga'6,'- : '£s.paid, ■sellers .-El2 North* Gas, sellers £8; ■Wellington-Gas, £6 10s.'.'paid,?.'eellors £14 sai; "South '.British' .Insurance, buysfs'''.£2 13a., ' sellers .£2 15s. Insurance,:>sollers £1 • 25.'9 d.; Ohristch'urcli Meat; £5 ■ paid,'- sellere £5; .Gear.-Meat, £4.Tiaidi buyers : .£lo\ss.',<£rpaia, buy: -era '£2 ■ 135.; '.Wellincton Woollen, buyers y£3 25., i; sellers- £3 3si; Coal; sellers/.£6 5a.; '. • WcstportrStocktoiv ■buyers;.*,6s. ! '/,6d.. Beliefs 7s.■ ■■■ ' lioyland-o:Brieri''vTimber,;\bnyor9\ £1 ', ..£1,<48.t -, ;Newi. Zealand ■ Consolidated, Dental, sell , , ers.- £1 ~4a;6d;;\Shariand's ordinam,, aelle're Ms v; .9d:..;.pre£erenoCj,'-,buy6ra ■20s.. ; '9di;':-.Taifanajii Pe :' trplennii',bnydrs';7s.,*;6ellers" Ba.;-Ward^aridiOo. • browe'ry.shardifc.'Bellers '£.4 11s.; JWollineton , Opera ; rHpiise, 17siV6d; ; <■"■■"*:'&!i.';iy ': I 'r'AVsTRALAiIAip. jIOiNT'.JSTOOK'iCOMPANIES. .'■- According, to :'ijno(.nbw.Ve'dition- ; ,of i.itife'.'A'ustra' lasian; : '!Gompaiiies , ' '.Year':..'Book," I. compiled'by,!Mr;. - 'R;';i/V'Naah,..(colhmercial:editoi -. of: the / I'Sydri'ey. Daily rTclegruph"), , thot'movc' .".' -.inents," of Australasian capital 1 ■inYes.tmerifa from '. ■lE?B.vtpj.l9oß.;Maye;. , ;b.een. l as' "■."■;' .. ....^r.v,..:..,: ;<J,BritisH'■ '^To'tal >■ ■].•■ ;-.'■•:.. Capital. Capital. . ■'■: : '.'■■. :•.'•■■.■■■'- ..:<:•*£:£(■*.?;',•?■.•£■ i\rf.,}-x<£<- ■' • >■' •■: ■' 1898 :.-.;..-...'128,045,000 ,: • 33i4.550;0C0'-; 622;595,000 : , rr , :19M. , ;-..'.:.... 142,119,000 ..387.314.C00 .' 529,433,000 ; , 1903.U....;.:."-154,139,000" ■■; 387,285,e60 : ■) 1904 .:.:;'..■.. .158,087.000'■•-577,048,000.; 535,135,000 ,' '■ ' • 1906 .......;.: 182,146,000 ' 372,762,000' "■■ ■654.M8 COO \ GoTcrniheht ''and''corporation''loa I n!i'accfiiint foi 1 over 70 per cent. o£ the British total. It will ', be seen from the above that in the ten year; ■ Außtralasian"capital' has increased £100,000,000 or 621 per cent, while the British capital has i decreased £34,C00,000, or 9 per cent., and that ir , spite of an increase of £33,000,000 in the Auetra, lasian Government loans held in the Mothci . Country. The decrease, of British capital is nol due entirely to ropaymente , ; aria £ withdrawals A portion of it has been writferi down or writtei • off. The debentures of the land and mortgagi ; companies have been reduced by over £9,000,001 in;, the past decade, and thoir, share qapital hai '' been reduced by -.-' £6,0l!0,00(l> Wdl-'many of thi companies have eone/into "liiiiiidatiohi ' . The return ..on tho' total capital of £568,146,001 • invested in Australasian securities last year wai £26,120,000,., equal to about 4.60 per cent. Thi figurea-'are given in the, ta.Me'appendedrf.v ; "i -„-'>. !t -,■'.-■■ ■" \ '»''.lnterest \ t rev :l ii •' ■■•-''s,v ' '' /• iPaid'.uv' , .', y-'ajid iys r '..'' : ■".'■■•' .' Capital. - ;' Drndende,' Per •,.".■■•.•'■•' £ £ ' ■ cpnt .',- Government .debt ...;.. 318,519,000 11,466,000 3.6 "■-' "Other w.ith flied rates , , ' - . . : i ■ of interest ...:... 90,738,000 • 3,609.000 • 4.0 k. Shares of trading, fl- ' ■ >v ■ . ' ]• nancial, , etc.,' 1 , com- ■ v •: ' ' i . panies ...?.';;:.'..;:.;..r.;.u •.'M'.eM.ooo ■: .'<■ 7a4i,00a- v .7.5 3 Mining shares '$*■*..*-. .69,229,000:,'.S 6.4 ' 568.146,000 26,120,000 4.6 .' Ap'projtiniately out of the above £26,120,000 - i: ' inwrest and dividends, '£15,000,000. -or,- eomethin . \ovsr 4i per cont. (h.o' total'of i'£360,000,000 o ■ capital, goes to the tinitcd Kingdom,' and £IUCO . 000 to investors in Australia and New" Zealanc - on , their £208,000,000 of capital, the'latter'bein well over 5J per oont.-pnly, 37".pEr",cent."6f th L Australasian total'is>ln Govcrnmbftt 'stock, ii '' eluding. Savings Bank holdings, ae" against f per cent., of Government stock in the tfaite ■> Kingdom. . ■ _ j ~,.,. . : ; .; ■■■, / INSTJBING SOHOOt FEES. ; .',.. i. A;T'qcentryjestablished British insurance'con ■ pany .'.hits"formulated.-a-scheme, under whic j,' proprietors it eohoolß' may_ indemnify themselv( against loss of fees occasioned by a' variety < ;, .causea. '.Under,'the. sdheme- in question loss < j'.\ fees occasioned by an outbreak of an epidemi > 'cither in the school or in the neighbourhoo - of the.School necessitating•,the -.closing :- establishment'i.for ,at; least oneihalf pt *a tern ; and loss'6f: fees caused by'a Sre oc'curfinEf ,o ; the school premises, are indemnified up to i; _; .amotmt. in either case cot, exceeding one term ' fees. Loss of fees consequent on more'tha f; 2 per cent, of the pupils being absent fro: '' school during . at least one-. half of any or 5" .tenn>'by reason;of such' pUp'ils;'.havini»' met <*it J. an accident or Ka'vuig , contracted' disease,<or"'c - account of illness of an infectious nature exis .• ing at the pupil's home, is also covered.upi I ■ the.amount ef one term's fees for every pup :• affected beyond 2 per cent, "of the whole. Tl pVemium for a policy covering the risks abo' r, referred to is based on a rate of 20s. per.cen c " oi the gross annual.fees of resident pnpUs ai ■ 16s. per cent, on the gross' , annual 1 fees-of'dd J, , pupils. : In view' of ttie serioua-.and uhavpv able 10/ , ! which is frequently suffered by scho< V proprietors in Great Britain on account of oi ,i or other of,the causes above referred to,, thei ■• would be ample, room for an insurani 'f of this desdriptionj'and'rthe rates quoted c ■": not.seem eicessive. • ,";■ GKEMAN INSCEANOE' COMPANIES.': ■ ■ The German Imperial Board of Supervision fi ' Private Insurance recently issued ite report-fi j the year 1908. : According to the "Frankfurti Zeitnng" the nnmKer of insurance undertakini , subject to the board amounted' to 1172 on Hu '•■ 31, 1909, as compared with> : 1125/-on .the- San B. date in 1908 ..and 1219 in 1907. The forois * insurance companies engaged in business in Ge ? many, 22 were concerned with --Hfe assuranc '■' five with* accident and 'liability, 40 with fl ,i insurance, and six with various classes of i " ■ surance. The foreign institutions-comprise thn ''»■ Belgian, seven Danish, 24 English, four Frenc '■" six Dutch, 12 Außtro-Hungarian; two Swedish,:: Swiss, one Canadian, and four'companies'who "r headquarters are in Die United States. Tl I gross premium income of.the, German compani ■I in 1907..was- £40,080,000, , (is ..compared wit £38,090,000 in 1906, whilst the -figures for tl , foreign companies are £4,172,000 and £3,985,000 a the same years respectively. , a, ■ ■. • , ; .- /... " *'• . : ' 'PATENT 'LAT/bK; ■ .. .. u The now English Patents Act has caused tl i pros and coils .of compulsory, working, to. 1 , much discussed in Germany.. According to Gc '• man law if a patent is not worked within thr sr years from its being granted it may be v wit in drawn unless satisfactory cause-for'the'Meli : be shown, and it hao been suggested that t] w law should bo altered to render it unnecessa; •■■■' to work foreign patents in Germany providi the foreign country in question does not itst insist on compulsory working, the idea beii that Buch a step on tho part of Germany wou 3 deter other countries from adopting' such res ir latiens as art now in force in .'England, Ti i)I Union of German Machine Manufacturers h "' just addressed a petition to the Governme "f> protesting tujainst any such proposals, assei 3. ing that they would considerably.,weaken'Of 3. ■ raany's position, at 'all • events' fc the mnchine: industry; whoro' home manufacturer,! , have , „ face a very keen foreign competition,: arid tfr bellove that it would bo wiser to render t: German law still more stringent against cou n- tries working,compulsory:scheme3'iis:.rigorous as England. It ia considered, howevar, , ' that, i it. international agreement whereby a pojent ne £ only be worked in one country would bo t ' most desirable, though as the difflcultios ,in t: ~ way of such an arrangement "are verfigrSat "■• le-eußgestedttj: the best alternatKe th'M-agri , .taents ihoold.be entered lntor win' the rario

countries , whereby.! awßatent.'-.takcn.'.out. in both, countries 'need only ■ be. worked- in' one. • Thie system has existed . between Germany and Switzerland and Germany and Italy since 1852, and haa given satisfaction. Mention is made of the agreement concluded with America this year which provides that tho working of a patent in either country shall not bo insisted on .more than ia tho case in tho country of the , patentee.- . It'ie. thought that-Qqrmany hsß-not made, a*very;Bb'nd<bargain hero.'for'.as-.Amenco, has no j compulsory working clause an American patent-, taken ont , in/, Germany need not. bo , worked . either there or in , Amorioa. It. is feared that a considerable number of American, patents will now be taken out in Germany- without, any intention' ol working them, in either country,; but. merely to' protect- certain ideas,' and .it is. considered-that .Gorman developments will'.be injured thereby.' It is urged that any -future agreement'.with-other, countries should 'be on-tho Mines of tho Swiss and Italian 'once, that is the'law should be considered satisfied if a.patent'., takefl 'out :in both countries bo worked in;either. . ■ ,-., ' ~.". ■'.'.-,. . ' : Cußtoms revenue collected at-Wellington yesterday, amounted ..to £3192 10s. id.- ."■■..-. ■/', •■ .'J;; ■;.■.:.;■ ' ■;'';■■ ' METAL'MABKETS. ' ''' *~-'■ V- ''. ■i.ffly: TeloEraph.-Prcss' Association-Copyright.) .■' ! ..'. ■ . -X London, November 3. . .Copper.—On tho spot, £57 165.-3d; per {on; three months, £59.- . *■ : ■ . ': >~' . ■■■■ : Tin.-Spot,. £158 12s. 6d. per, ton;, three' months, £140.103..- ■■ .-■■■,: ■ •■ .'..•■ •.;■■•: .. . ■ ... ; Lead, .£l3 Is. 3d. per ton". ■ . .■ ■ ..■•■■ ■■ '■'.;;■■■.,LATEK FIGinRES-HAEKET'ACTIYE. ■ '■" .■.:.■.;■■;■■.. (Eec.'November 4,' 8.45 p.m.)' ''■.■' ''.'■"' -. London, November 4. The copper market ia active. Higher American quotations "are stimulating buying for a rise. Spot, £57 ~l3s. 9d. ; th:eo months,- £59 18a. 9d;electrolytic," £60 10s. ■ .-■■'. Tin.-On the spot, £138 55.; three months, £340 55..-.-:;, .■ '■..'.■ . ■'■ -.'-.. ■:/ /."Ohilled beep shipment. ■/•. li - , ■■ (By ■ Telegraph-Press Assoeiatiqn-Copyriehd .';-."". ,■■' (Bee. November 4, 8.45 p.mO. '. ; ~ ■ London,! November 4' The Marathon's shipment of.chilled beef was landed in excellent condition. Tho best hinds were equal to the best Argentine, and made hesamo price, 4M., second quality 4Jd. Messrs. Weadel ana Company are endeavouring to arrange a large shipment from Australia and Now. Zealand. >■ ' ■• . • ■ [The Aberdeen liner . Marathon ".-left Brisbane on September J for,' South Africa and London! via Australian ports. By an improved chilling process it is claimed that moat can be carried a longer distance and in better condition.] . .; WOOL SALES-A KKCOBD PEIOE. •-!, '~' ''. (Eoj. November 5, HO a.m.) Sydney, November 4. ■ Tho. feature' of to-day's wool sales was tho high price realised by the Tall-top clip, greasy crossbred,: which brought 18Jd., ; which is pro-; lably a record for Australia. . Comeback fleece' >i'oughtl73d., merino lambs 16} d.,' merino fleece Mjtt. . : ~ ; .■ ;. ~-. ;. ;.- _-. .-.-. ; ' ' "".' ■;''■ TALLOW.'AJJOTIONB.''".-." .'/ : ■' •'■■■ ■' London, ■ November 3.At tho .tallow auctions .558 caeca, wore offered and 633 Bold, at 9d. per cvrt. advance. .'■:"■ ". '? ; HIDES-M AEKET. '. :■'; (By Tclegraph.-Press Association.-Copyrieht.) (Eeo. November 4, 11.20 p.m.) • Melbourne, November 4. ' In the hides market supplies were moderate, and there was a strong demand for all classes, ,at prices in favour of sellers. .... 'AUSTRALIAN PEODTJOE MARKETS. .. ■[ IDy Telecrapli'.-Prasa -. \tiikS November 4, 11.20 ' ;■);£'/ . -■■■.■' :■': ,; "- v - ; '-- 'Sydney, November-4.' 'Wheat, old 4s. lid..-to 55., new-3s. 10d, to 3s. lid...Oats, Algerian 2s. 2d., Tasmanian 2s. sd. Barley,. Cape.3s. .to, 3s. 3d. Maize,. 4a. Id. to-. .4s; 2d:, ,Bpnth" African'3s. Ud." Bran., £4'155., Pollard,'£s 15a'. Potatoes,'new"£7. Onions, £4 to £5. ..Butter,- 100s. < Oheeße.-.63d.:t0' 7d./ Bacon,■ Bid.: '•■ - ; .':'■••■■! -v-Melbourne, -Wheat, 4s. 6d. to 45.,7 d. Flour, £10 15a. Oate: Algerian la. 4d. to Is. 9d. Barley, English malting Jβ; 9d., Oape2s. 8d.,-feedirig. 2s:-3d: -Maize,'' 3a. Bd. Bran, lid. Pollard, Iβ. Id. Potatoes, £2 10s. 3d.;.,0ni0n5,,£4 to,£s fl -;... ~ ~.,•,., .- I,: : ; : „•;".''. Adelaide, November 4." Wheat, old 4s. 6d., new 3s. 10d. : Flour, -£10 Bran, lid. Pollard, Iβ. , . .. .'. , [ ■ /•■',: .I.', ,0.(5. ,AND::b.'iOO.'-... ... ■.".•...■.■., .' (By Telstraph-Press Association.) ~ '' ■' >. . Napleri November 4. The 0.0.. and D.!Compa,ny,.to-day-cabled the" following ;.report xegarding.-the- frozen'.;, meat market:-"A further fall in.tho value of lamb ' To-day's quotations: Mutton,- Canterbury, 43d • Napier,: Wellington,: ,arid.- North • - Island, §ld! Lamb, T £rst quality, '4J, , ..;' second. 4Jd. Beef, hinde, 3}d.; fores, 2Jd." . .'; , ' WOOL AND TALLOW. '■.-' The, New Zealand Loan and Mercantile Aeency Compftftji,'. Limited, have received tho following cablegram from their London house under dai November 3:-Tallow. Wo quote present spot values :.for tho,, foUowinE .doscrip.tions-.Good mutton, 345. 6d.; good beef, 33a. 6d.; mixed, 325. 3( per cvrt. Market.firm; -.Wopl. A9"compared wit last sales' closing > rates,.price."! are lower about 5 per cent, to 7} per cent, for merino, and abou the same, fpr.^orossbred. ..».;., ■>». i.. .'.,. ■-.- •■;;',".;,.:. STOCK SALES. ''['■ " ; ;-• mi" Tc'lecraph-P'rcii.' Asiocia'i,(oß.r ', _.. ..;.','. .'.-■■ Dunedln.' November 3., At Bumside stock market 3387 sheop -wereyardea. The unusually largo'entry'wae responsible for an all round decline in prices. Wethers were, sold at Is. to 2s. less than last wee and ewd3"were'-from-23:~'i0,-3s', cneaDer;'- Bes wethej'o, to,2)S.;(oztra;' 26s.':to 27b.-Sd. jMnedium 18s. t&. 19a. 6d'.;'Bhonr wethers, 15sJ to 17b. 6d.|; .bept-owe3 f -.175.- to. 19a.;...extra' prime;'!235.' to -Z6s. 3d.; medium, 15s. 10, 165...-6 d; ■.•■'•; .. ■: . •; j Lambs: , ;'!*-'yarded; 'Best lambs, 16a.' to 17s.* eitraequality; to 18s.; .medium sorts, 14a,'6d. to' 15bV 6d. ""'"■■■ ' '■■ '-'■'■ ' l ---> ■■ '. ■ ■ . ;■'.■.:„•, ~ ■ Cattle: .251 yarded, a.specially big, entry. At' the' commencement of»the'- Bale, pricea declined Blightjy,- and dropped >later/to -a further extont: i'Best bullptxs, : £8 to!'£9'los.;- extra;. to £lt Is.; medium, £7. 55.;,t0,£7 155.; inferior,.56.55.:t0 £6.15 a.; best,cowß,and heifers, £5 10s. to £6; 15e.; medium, £4 :ssi<.to. £6; £3. 105..W £4.: -V , ~-.,.'' ~.,.-,....:, . - '•;■. ■ Pigs: 180. yarded. ..The,largo, mimber penned. was much in excess of 'requirements, and prices' were., low.. .■ Suckers, 14a.- tol6s.j' elips;:l7o.' to : 191'; "stores, 25s:' to 283.:'. porkers,' 355. to 405.; light" baeoners, , ,43s." to '465.; heavy, 535;; ■cnoppcrs,- : to' 685;., ; : :."■ ',;. '. Mining News will be found on page 9'of this issue." .',' .>' .''■:'-.■:; : i '..■'-.