COMMERCIAL ITEMS.

Dominion, Volume 3, Issue 763, 11 March 1910, Page 10

COMMERCIAL ITEMS.

INVESTMENT SHARES. A sale of Ward and Company's Brewery shares at £4 17s; Gd. was ail tile bu'sienes recorded yesterday. National Bank, solvlers *6 ss. 6d.; National Mortage, oellcra £3 Is; I'eilding Gas. sollors £1 '2s.- National Insurance, sellers £-1 Bs. 6d.; Wei'lUKton Moat Export, £5. paid, buyers £6 £2 12s. 6d. paid, sellers, £2 165.-6 d.: New Zealaud Shipping, buyers £7 135.; Wellington Woollen, ordinary, buyers, £3 25.. nre. -farenco, sellers £2 lis.; Wcstport Coal, ecl,,rs, *■?•» Timber, buyers £1 3s. 9a.; New Zealand Portland Cement* buyers £1 19s. 9d.; Sharland's nrefereneo buyers £1 25.; Tarauaki Petroleum, buyers Bs., sellers 6d.;\ Ward and Company, buyers £4 1/s.-6d.," sellers £5. MUTUAL LIFE AND. CITIZENS' ASSURANCE. The report of the Mutual Life and Citizens Assurance Company; Limited; for the year ended .Dccembcr.3l, 1909, shows that the organisation has now {jot thoroughly under way, and that business ha 3 been pushed ahead with vigour. Ia the ordinary Mo. number of new polcie3 was 11,382, assuring the sum of £2,009,460, and £J9„e Cing a 'P premium "income ai «v7c,4Zo, an increase on .the year ia nev f un ?-o?e/S of Claims amounted to £.>27,568, as against £291,799, the incrcaso being due to the heavier payments on account of maturing policies in the ordinary tlic figures having gone up from *99,346 to £151,121. The amount of business now m- force; nearly approaches; 20 millions sterling, yielamg an annual premium income of close on three-Quarters of a mil. how sterling. In the. ordinary branch these are 33,793 policies, assuring £15,661 780 ™? YT S • Cl \ annual- incomc ' of £535,691,. while in the .industrial branch there are 214,065 policies, assuring £4.087,968,

and yielding an incomo of £262,457. The assurance funds of both departments amount to £4,757,157. In addition, there is the _ policy-holders' bonus reserve fund of £12,u00, which, with the paid-up capital of £56,788, makes the funds, total £4.825,945 -an increase for the year'of £376.451. The average rate of interest earned by the ordinary branch funds was £4 Bs. 2d. per cent., and by the industrial branch £4 4s. 6rl. per cent. The directors draw attention to the lowness of the expense rate, which is 11 per cent., for the combined ordinary business, and 46.9 per cent, for the industrial business. The valuation of the ordinary badness of the company shows that the net liability on December 31, 1909, was £3,883,184. The amount of the assurance fund was £4,047,308, leai' ing a net surplus of £164,124 against £121,177 for the preceding year. The surplus is allotted as to £91,982 to the "Citizens'" section, and £72,142 to the.M.L.A. section. ii l ?^ a )!Sf ts amollr " '" £ 4 .904,045. as against £4,503,978, and the tendency to invest same ill Government securities, and similar highclass investments figure at 55.66 per rent. ?,L tho total, as a S ain at 51.85 per cent, in 1908; mortgages are reduced from 32.10 per cent, to 30.75 per cent., and freehold property has shrunk from 4.93 to 2.92 per cent, iho company has no foreclosed properties, nor have any of its mortgages fallen into possession.

NOTES. Statistics which have been supplied by the Customs Department show that the oversea exports of butter from Victoria during February last amounted to 2,715.113 lb. valued at £122,198, as against 855,7001b., valued at £35,375, in tho corresponding month last year. For the first eight moittas of the current season the exports were 28,900,5011b. in quantity, and £1,230 458 !h 16 Clceeai -S by 12,668,100 1, i1Dd .£«5.246 those for the period.from June, 1908, to February, 1909. An agreement has been entered into between the. North British and Mercantile insurance Company and the Hai'wav Passengers Assurance Company, whereby (subformaliti ? s I"*!* complied «ith) the assets and business of the latter company will be acquired by the former J , anua /y-' 1 .. 19 1°- The consideration for the transfer is £860,000, equal to £8 T? i. nV ?c . h ™i!way Passenger's share, a is not intended to terminate' the separate existence of the Railway Passengers Company, which will continue to carry on business as heretofore. That company is NnvHTTif ? 1 tcd iV hese s,at « s - out the North British and Mercantile has branches ™„.,T %' es Australasia, tho of ?' £®v £ 01 , nE , undor the management 01 jur. 0. n. Colquhoun. ■ • ■ Official statistics showing tho quantity and value of. minerals produced in Tasmania during 19C9 have been issued by the Mines Department of the State mentioned. Of go d, tho output' was 44,777,366 line oz Val l' e f .S'-.i, 1 ? 0 ' 201 : silver-lead orb repit sonted 80£8.35 tons, worth £298,880; blister copper, BS3M;ons, £586.419; copper and copfZL o, 'kJ S ;?- MoDS - , £21 ' 619 = « n ore, 451% tons, £41816 a; coal, 66,161.75 tons, £56,237Z°nl ra^J S: l{ tons ' £2454? ;, ' nd bismuth 2.9 Z-nTkMmf TQealc value beins SGt

The annual report'of the Savings Bank ?L?Z } m $ , yV ß:° s : Bnrrack Streot ' *°* was £26j,012, the interest paid and expenses of management amounting to £239964. In addition, £13,150 was carried to re- !> e «r 0 na fu, f d ( '? ak "*S the total £319,940), and ±14,000 Placed to depreciation fund. • There' was £10,316 brought.into the account from the previous year, and £7213 is carried fory?ioo'm ™ 0 .-.«Berv ß> fnnd is increased to £319,940. The rate of interest paid was 3S per cent. . The deposits on January l amounted to £6,847,154, showing an increase °? Sf ? r °« £ JIS'S 6 '-- the tolal at ''^ e end ?„ JSSS bcl 2 ff J 6 A 508 ' as against £6,401,662 in 1907, and £5,997,609 in 1906... ■ • . Some interesting'details of the growth of limited liability' companies in Switzerland appear m a Consular report recently is--BUO ; , , J v „ p ?? ars that at th c commencement of 1908 there were 31C0 Swiss limited companies, representing capital to the extont of £98MC00. During the previous yoar ™°;i n , e^„comi ' anies i with »'capital of over £8,000,000, were formed. ■ The amount ot foreign capital invoked in the country at the beginning of 1908. was £44,553,000, in the hands of 111 companies: Official statistics of Germany's foreign trade in 1909 show an appreciable recovery from tho depression of 1908. In tho first 11 months of 1909 the. value of exports exceeded the figures for the corresponding period of 1908. by £1,000,000. The import! IT JiorainnT 0 U m S? ths showed an 'increase 2f i™ O,QGI L ove - r ' tlle corresponding period of 1908 The imports for 1907 remain the largest for any year; otherwise 1909 was tho best.year for foreign, trade.

Customs revenue collected at Wellington yesterday amounted to £2897 16s. sd. METAL MARKETS. ■ By Tcleeraph—Press Association-Copyright _• ' „ ' , London, March 9. Coppcr.-On the spot, £60 3s. 9d.: three monthG, £61 2s. 6d. .' ■ Silver, 23gd. per ounce. Tin.-On .the spot, £147 76. 6d.; three months, £149 7s. 6d. Lead, £13 55.. \ .... : . (Rec. March 10, 11 p.m.) ■ ' •■ ' London, March 10. Copper.-On the spot, £60 2s. 6d.; three months, £61 ss. per ton. „Tin.-On the spot, £147 55.; three months, £149 10s. LONDON WOOL SALES. By Telegraph-Press Association-CoD.vrlebt ' ~. ■ .London, March 9. At the wool sales .there was'strong competition at opening rate 6. Competition was more general. . ... . (Rec. March ; 10, 11 p.m.) '•'''"' 'London, March' 10. ■ ■ At the woo! sales the Kawalrawa clip sold at lid. to 163 d. ■ WHEAT.. ■',■•■ London, March i 9. ■ A cargo of Australian wheat sold at 375. 10a«. ...■)■ The American visible supply of wheat is 52,010,7/8 bushels. ' • > TALLOW. ' ■ „ London, March 9. At the tallow auctions, 898 casks wore offered and 825 sold. Mutton, fine, 365. 9d.medium,' 3<s. 6d. Beef, fine, 365. 6d.; medium, 345. ATJSTBALIAN PRODUCE MARKETS. (Rec. March 10, 11 p.m.) ' ' Sydnoy, March 10. Wheat/os. Hid. to 45.; Hour, £10 ss:; oats, Algerian feeding 2s. 2d., scedin~ 2s. 5d., U'asmanian 2s. 7d'.; barley, Capo feeding 35.; seeding 3s. 3d.; maize, 3s. to 3s. 5d.; bran, pollard,. £'] 10s. to £5 55.; onions, Victorian, i 4 10s. to £4 155.; butter,. 100s.'; cheese, sd. to bid.; bacon, BJd. Melbourne, March 10. • WJieat, 4s. to 4s. 0?d.; Hour, £10; oats, Algerian, Is. - lid. to 2s. ljd.; barley, Cape prune, 2s. Bd.; maize, £3; bran, £4 155.; pollard, £5; potatoes, £3 10s. to £4 55.; onions, £3 ss. to £3 10s. ■ ■ ■ Adelaide, March i'o. Wheat, 4s. Old.; flour, £9; bran and poliaid, lijd. - , t— , .- HIDES MARKET. (Rec: March 10, '11 p.m.)' Molbourno, March 10. In the hides market supplies of kios were slightly irregular. Other sorts were iliudy. •

• FROZEN MEAT MARKET. (By Teieci-apl;.—l'resß Association.l ■-. Napior, March 10. The C,C. and D. Company, London, today cabled the following report on the frozen meat market:—"Market continues firm. To-day's prices—Mutton: Canterburv, '■^d.; Napier, Wellington, and North Island, 34d. Lamb: First onality 53d., second 5Jd. lieef: liinds, 3gd.; fores, 3jd." ■ RAM AND EWE FAIR, (3y Xeiesranh.—Press Association.) Cliristchurch, March 10. The annual Canterbury ram and owe fair commenced to-day. Entries were slightly larger than last year, and there was a good attendance. The sale commenced with llook rams, and long and short wools were sold simultaneously. The collection of rams was above the average so far as growth and condition wero , concerned, though there was as Usual a number of inforior animals entered. Tho demand was not so good as was cxjfSctcd. Liueolno were all passed at auction, and - Border-' Loicesters, which were entered in larger

[numbers than usual, mot with rather dull sale, prices ranging irom 13 guineas to 4 guineas. English Lcicesters were by far tno most numerous, of the breeds icprc- | Dented, and they met with fair sale, rams from the best-known (locks bringing very good prices while the demand lasted. I'riccs in the early part of the sale ranged rroin 13 guineas to 53 guineas. A few Corricdalos changed lianas, the tons price being 65 guineas. Shropshire? were offered in much smaller numbers than of lat« years, and they met with verv good.sa'e" prices ranging from 1* guineas to 43 guineas. Southdowns were very dull of sale, the selection not being a very good one, owing to so many having been sold privately for the North Island. They made 1 guinea to 43 guineas.