COMMERCIAL ITEMS.

Dominion, Volume 3, Issue 692, 17 December 1909, Page 10

COMMERCIAL ITEMS.

".-,. :'■ . INVESTMENT SHAKES. Sales of Wcstport-Stockton Coal at 6s. lOd. and Sharlands preference at 20s. 6d."wero recorded yostcrday, National Bank, sellers £6 la.; National Mortgage buyers £2 18s. 6d.. sellers £3: Now. Zealand Loan and Mercantile, sellers 45.; Wellington Investment, buyers lis.. - sellers lis. 6d.; Wellington Trust and Loan, buyers £7 2s. 6d.; Wellington Doposit. sellers Bs. 6d.: Peilding Gas. buyers £1 Is., sellers £1 Is. 6d-.; Napier Gas,: buyers £12; Wellington- Gas. . £10 • paid, sellers .£lB 2s. 6d„ £6 15s. paid, sellers £14 55.; South British Insurance, buyers £2 Is. 3d.; KaiP?' Woollen, preference, sellers £5; Wellington Woollen, sellers £3 4s. 6d.; Westport Coal, sellers £6 55.; Wostport-Stockton, buyers 6s. 9d., sellers 7s. -3d.; Leyland-O'Bricn Timber, buyerß £1 3s.;,New Zealand Consolidated Dental, sellers £1 45.; Now Zealand Drug, buyers £2 65.; New Zealand Portland Cement, sellers £1 18s."; Sharland's ordinary, sellers 20s. 6d„ preference, sellers _215.; Wellington Opera House, sellers £7 17s. 6d. ■

DALGETT AND CO., LTD. .'-.-. - The balance-sheet of Messrs; Dalgcty and- Co., Ltd., for the year ended Juno 30 last bliowb o, net .profit -of. £179,328, against £147.188 for the previous, year. -The/leading items of. tho bak anco-sheets of the. past. two years compare as under;— :, r .-;.,. . : - ' -1901 "- 19C9. Liabilities— -. - £ £' . Capital paid 1,000,000 1.499,147 Reserve ....:........... 235,000 270.CC0 Profit and loss .../ 180,311 ' 195.771 ' Irredeemable • debenture ■' stock .....2,263,210 2.400.000 Terminable debentures .... 530,480 '-579.378 : Other, liabilities' 3,717,349 ;.' 2,695.084 Balances In; transit-'.... 456,318 . 273,445 Cash -.'•.-„ '." ; 144.605 .'■ : 209.198 .Bills receivable, 495,028 . 269.160 .Securities ..........:. 43,124 ■■-. , — • Sundry, debtors 650,723 648,435 Advances- .;.......„... 6,065,483 5.672.619 Merchandise , ...........i..:.„ 169,259 - 222,158 Promises 679,446 601.257 E.F. investments -.•-....: 235,000 ■ 270.000 Including tho balanco of £70,311' brought for.ward thero was available £249,639. -From this thero was 'deducted £17.826 c'o3t of the issue of preference shares, and £6042 the amount duo as dividend on such . shares to June 30. 1909. Dividend at' 6 per cent, absorbed £60.000. and bonus of 1 per cent. £10,000; the sum "of £50.CC0 was added to the reserve fund,, raising it'to £320,000, promises were written down by £30.000, the staff benevolent fund was' increased by ,£5000,; and £70,772 was, carried-forward, y

.;, TONNAGE OP MERCHANT 'VESSELS. - The annual report of "Lloyd's Eeeister" of shipping for the, year ended June 30 last shows that at that date there were classed on, the, books of the institution 10,424 merchant vessels,' registering. 20,669,576 tons. Tho serious denres-' sion which has existed for so lone a .time in the shipbuilding, states tho report, is again reflected in tho, amount of tonnage classed by tho. society during the year, which is ' considerably, below, the very high average attained in recent'years. ■ This decrease is not a matter for.surprise in view of the fact: that the total tonnage, under construction in the United Kingdom at the end of June last was less than 53 per cent.;of the ..amount building, throe years ago. -.- Classes were'assigned by tho committee to .550, new vessels, as against. 648 in 1908. Their registered gross tonnage' amounted to 854.984 tons', which, compares : with. 1,151,79! tons 'in the preceding, year. :.Of these vessels, 481 of 845.719 tons wore steamers, and 69. of 9265: tons were sailing ships. Of. the total vD,!!? tons or 65 per cent, wero built for tho United Kinedom, and 384,847. tons, or 45 per ce,it.. for the British colonies: and 'foreign■'.counti.es. - ' In- 1907-8 the tonnage .was 1,151,791. tons, aa<l in 1906-7. ,1.484.722 tons. In view, of tho incrcasiiig extent to which .wireless .-telegraphy and submarine . signalling are being used in passenger etoamersitho com-' raitteo have, caused (special notations to be mado in '.the, present edition, of the' society's 'register.: book'in the cases of,vessels installed with apparatus -for .the above- purpose,-'and have also included'-in'the bbok; separate 'lists'- of vessels so fitted.': Thero 'are-''recorded in.'the rceisterbook at the/present timo 4C«- vcsscU ilttcd with .wireless telegraphy, and '■ 362 vessels fitted with submarine .signalling apparatus.

'/:■': \ ■'■■'IHPEOVEMENI' IN; FEEIGHTS. ■''"■;.'■ It; was, stated; -by-. Sir Thomas Sutherland at the animal meeting of shareholders of the P. and 0. Company that freights wero improving, . and ;■ this is further: evidence of the general improvement, in trade. .; Shipowners havo come . through a very trying period, and in endeavouring to account, for the depression.the secretary of the Liverpool Steamship Owners' Association submitted an elaborate statistical review'.which; makes interesting reading. '■ Tho chief , causes..: assigned for the .' congestion of tonnage are 'tho growth of foreign'. shipping nnd. the, introduction of a larger type of vossel Betweon 1895 and 1906 the ' cargo-carrying-, capaof vessels engaged in-the 'foreign trade of the world increased 110.per.cent.'in tho case of foreign ;shippir.g and- 70 per' cent.'.in the case, of British shipping.'- Tho' volume'of the former rose;from.JO.OOO.OCO .to 22,000,000 tonß, and of .tho. latter- from'-13,000.000 to 22,000,000 tons. «£■■?«£•■ cnd ° f 1E « Bn.tish owners were! on U\t a\orase,-..eaca year, losing,..breaking up, and selling ■ t0... foreigners ;250,K0; 'tons net/of steam snipping engaged in foreign trade, and renkr. mgit wit*,4ooCpO tons.net of. grealer carry: ing capacity. Since 1897 and up. to last year tho average,lo S t. broken .up, and sold to fo" eignors 300,000 tons net, which has'been The; great, call for transport accommodation during Africah 'war for the tlm a be in*, prevented the excess tonnage from being noticeable,- but rsincc : then it has '. pressed with noroasing. severity on the freight market'it is not tho least..wonderful foathro of shipping hoTf^r^ 1 "- 3 .- W dari .=S tto l"5t : decade and half tho British have, in< the face of increasing foreign competition..entirely rebuilt their S cantilo.marine..with, larger , and -faster .vessels : Zm thu3 rcn , der< £ the mo?eeffl: .oiont than ever, for business -purposes. ■

''■'.- :-:-{i •■;•,■: DECEMBER EXPORTS. 'A A l E^ p i rt T? * 10 ? -".Kington 'between ' December 1-and;December -15 wore. as. under:-Botter JSOOcvrt £31,075; cheese, 4572cw?,,. £12,653fr0zen ''Off.' 2125cwt„ £2479; frozen :mutton,%2fort f4 BM i T,^ ll^ 00 . 08 ' 1 ? lowt -' £184; frozen lamb" ■lTgcvrt., £296; ,ua5, ! '455,t0 n5 ,.£H,295 t0w,74 tons

■' .Customs revenue collected 'at- Wellington ' yesterday amounted', to £4483,175. 6d; '.. ..' .'-.-■

'-_: ;'V : ; TALLOW AUCTIONS. '■■' (By Tolegraph.-]?ress Associatibn.-CopyriirhU ' .:,,.■ „' . •'■,.- London, December X 5. ■ .-At; the ■■ tallow auctions 748 casks offered and 644 sold. , Tine • mutton, 375. 6d.; medium, 53s FinO'beef, 355. -9d.; medium, 325.

x : METAL..MAEKETS.' ' ' (By.:Telceraph.—Press:Aasooiatiori.-CoDjriEht.) •(Ecc ; .'.December ; ..l6,;.io.s/p.m.). ; : ;:■ .•'■! ''':■„'■■■ ' '■'-_ '•'"■;, J ■ ...London,..December 16>,' . Copper.-On - the- spot, £59 -10s: ;•■ threo months • £60 lus.j electrolytic, £61,155.. per ton. ■'

;V\.;'-•v;;;rEOZEN: : MEAT'.'MABKETi V •;':.■• .IBy : ,';Teleeraph-rPreM Association.) . ,\ _, -_..r . ,/..,; . Napier, -December "16 ;> The CO. and D. Company .cable that there'is no, improvement in the frozen meat marketand prices are unchanged;.. .-■ •■... ■ rv.

...DUNEDIN WOOL SALES. ... {i ■■■■. IB».-'. ScleEraDb.-PrcssJAasaciatton.i' : m . -V.-''!--' -. : -"'J,'. Duhedln.V December-lC': The .first'..wool "sale: of this season's series was hold •.to-day, when there was Van' offcrinc; considerably-in excess of tho total of last-, year's first catalpguea. Tho ' favourabio ■ season ' and : tho-prospect,of; good : prices :havo together in- . fluenced growers/, with: tho; result -that shearing has_ been : got: through, early. Much ,of the wool came:ionvard in excellent condition, but a large portion 'of' its also caused a-good deal of grumbling among buyers.' This was particularly, so in-ro6pect of certain of farmers' classes, where the dirty-condition'of the fleeces was attributed to the late turniping.-. Biddin» was brisk, Continental biiyers boiig'■■ particu--larly active and favouring fine' quality h'alf;breds and ; pieces. The American buyers seemed somewhat inclined to hang fire, but wero anxious to secure clean crossbred lots, however' Tlta oxtensivo ..operations of a number of in--dependent buyers made it difficult, to ascertain tho destination of ai great portion of tho wool purchased. It is considered that, on the whole the prices so far obtained comparo very fav' ourably with thbeo of the last Christchurch sale. fTho/following, figures show the rahsro of prices:— •■;•■■.-, ~::■■■:■•■•'■...■■■ .'--.. ■-.-.* .Super half bred,'l2d.. to 14Jd.; medium to sonfl lOd. to llJd.;.'inferior,.B!d.uto.9}d. ; super Across' breds, -12d.; to 13d.:' good : crossbrcda, lojd. to UJd.; medium crossbreds, 9d.,t0 inferior 1 crossbrods,' 7Jd. to B}d.;' super ' merino, mi . medium to. good, 9Jd. to lUd.; inferior, Bd' to 9d. . -, ,-'.., . . •,. ,>: . '