COMMERCIAL ITEMS.

Dominion, Volume 3, Issue 825, 25 May 1910, Page 10

COMMERCIAL ITEMS.

; INVESTMENT SIIAItES. j A sale of Westport Coal shares at £6 8 , was all the business in investment share ; rocorded yesterday. National Bank, buyei ' £5 165.; Equitable Building, buyers £9 5s 1 Metropolitan Permanent, sellers £12; Wc • lingtou Trust and Loan, buyers £7 3s. 6d j National Mortgage, buyers £3 35.; Chris ; church Meat, buyers £12 2s. 6d. (cum div . dend); Gear Meat, £4 paid, buyers £! 55.; £1 paid, buyers £2 145.; Wellingto !• Meat Export, third issue, buyers £2 15s. ' N.Z. Shipping, buyers £8, sellers £8 5s Hikurangi Coal, buyers 19s. 6d.; Tattpii » Coal, sellers 19s. 9d.; Westport Coal, buyei £6 7s. 6d., sellers £o Bs. 6d.; Leylaut , O'Brien Timber, buyers £1 4s. 3d.; Taring; mutu Totara Sawmills, buyers £1 4s. AUSTRALASIAN BANKING RETURNS. The banking returns for the whole of th banks in Australasia clearly prove tha the producers are experiencing prosperou times. When the producing classes pros per, the deposits have a tendency io in crease, and the advances to decrease. Th figures for oaeh of the Comnionwealtl States and New Zealand when compare' arc very interesting. The-deposits for th March quarter of this year show an in crease of £13,000,000, as compared wit! the corresponding quarter of 1909, th' figures being as under:— March ' Dec. March Quarter. Quarter. Quarter 1909.1909. 1910. New S. Wales 44,235,505 45,319,856 47,481,49! Victoria 37,631,169 38,708,861 40,924,60! Queensland ... 15,914,413 17,322,746 17,125,42! Sth. Australia 9,338,851 9,551,977 10,475,06; West Australia 4,942,966 5,404,774 5,867,21. Tasmania ' .... 3,640,693 3,536,384 3,651,87' T'l Oommonw'h 115,703,597 119,754,598 125.525,681 New Zealand 21,309,362 22,196.171 24,491,92! T'l Australasia 137,012,959 141,950,769 150,017,60! The New South Wales deposits are iusi about one-third of those of the whole oi the Commonwealth, and over one-fourth of those" of Australasia. The advances have diminished because the producers being prosperous have had no necessity to lean upon the banks. The shrinkage in the advances is just about three millions sterling as compared with a year ago. The figures are as under:— March Dec. Marcli Quarter. Quarter. Quarter. 1909.1909. 1910. £ £ £ New S. Wales 37,264,914 38,455,505 35,509,256 Victoria 32,589,554 32,915,372 32,581.983 Queensland ... 15,514,377 15,219,141 15,038,371 ! S'th. Australia 5.830,347 6,078,826 6,360,901 | West Australia 5,618,496 5,743,478 5,885,226 Tasmania .... 2,971,583 2,838,540 2,919,921 T'l Oommonw'h 99,793,270 101,250,862 99,265,658 New Zealand 22,563,111 20,982,000 20,182,403 T'l Australasia 122,361,331 122,232,862 119,448,161 THE OUNAED LINE. Notwithstanding that the Cunard Steamship. Company made larger profits in 1909 than in any previous year, no dividend is paid on' 'tho ordinary share capital. The directors have decided to replace the money taken from tho insurance and other reserves twelve ■months . ago, in order to provide for, depreciation. On December 31 last, cash in hand and at bankers amounted to £336,344, as compared with £264,859 at the end -of 1908, and in addition the company now holds £250,000 of its own 4J per cent, debenture stock. The working profit was £660,246, against £180,345 in 1908, and the balance at credit of profit and loss is £664,000. Interest absorbs £133,757, depreciation requires £376,483; to insurance fund £66,598 is placed, to general reserves £60,C00 is added, and a balance of £6983 is carried forward. The insurance fund now stands at £400,000, and reserve at £230,000. The book value of tho (loot is £5,265,631, equal to £24 4s. per ton, the depreciation provided for in the appropriation mentioned above amounting to 355. per ton. MUTUAL OP 1 NEW YORK. The amount of new insurance written in, 1909 by the Mutual Life Insurance Company of Now York was £20,952.902,. insurances in force on December 31 of that year amounting to £295,959,722. This is an increase of £600,420 over the figure of 1908. Assets are shown, in the balance-sheet to amount to £115,014,860, of which £55,754,928 •is in bonds at book values," £26,438,214 represents loans on real estates, £13,403,490 loans on policies, and £11,874.615 loans on stocks at market values. The net policy reserve is given at- £91,455,646,' tho 1 rcservel.. for deferred bonuses at £15,192,420, and-the reserve for general contingencies at £3,597,402. Total payments to policyholders for the year '£11,322,960. Bonuses paid amounted to £2,259,941. ' TRADE IN ALLEN' STREET. Oats arc without alteration in value. :, Chaff continues firm, and some.' heavy sales have been made. Wheat—Prices continue steady; tho Wellington rates range from 3s. 9d...t0 4s. per bushel. .''..■'.' . .-'-.. ■ 'ilane.-TSinco-'.last week'there has been an advance of 2d. per bushel. Bacon and Dams.—Values continue firm, and there is no prospect of any decline on present prices. There appears to be' a world-wide shortage of pork, consequently an advance in local prices is possible. .Cheese.—Local stocks are in light com'pass,- tind.'p'rices are slightly, firmer. Butter.—Prime lump milled i and separator are in short supply, and local rates now range from lOd. to 10Jd. per lb. Stocks of this class of butter in freezer are exceedingly light. Fresh Eggß.—Since last week these have declined 3d. per dozen, and tho wholesale price is now 25.; preserved arc ruling at Is. 4d. to Is. sd. per dozen. Potatoes.—These have advanced considerably, and southern quotations are now '£5 15s. per tou f.o.b. Onions.—The market is firm, and fanbusiness is passing. t Vegetables.—Cabbages have come forward rather freely, and the market is weaker. Cauliflowers arc meeting with an excellent demaud, and prices range from 10s. to 12s. for choice samples. The market is glutted with marrows and pumpkins. Bananas—The Navua, due from Fiji tomorrow, is bringing only 600 cases and 100 bunches, while the usual- shipment at this time of year is 6000 cases and 20CO bunches. Owing to the hurricane recently experienced in the Island Eupplies have have diminished fully'9o per cent. Apples.—The demand for choice dessert is strong, and consignments arc recommended. Cooking varieties. continue in good supply. Pears.—Choice dessert have advanced in value. Winter Nellis are now worth 9s. to lis. per bushel case. Mandarins—New South Wales are in demand, and further supplies .are due tomorrow. EXPORTS OF PRODUCE. The leaflet issued by the Department of Agriculture showing the exports of products from the Dominion for the first half of the current month wa-s circulated yesterday. The total for the half-month was £799,533, the principal items bcimr:—Butter, £23,577; cheeso £64,984; beef, £31,114; mutton; £62,611; lamb, £122,344; wheat, £22.763; hemp, £22,018; kauri gum, £13,156; skins, £77,451; tallow, £43,109; wool, £184,290; and gold, £108,186. CUSTOMS REVENUE. Customs revenue collected at Wellington yesterday amounted to £2533 16s. 2d. CANTERBURY GRAIN MARKET. (By Telegraph—Press Association.) Chrlstchurch, May 24. There is no change in the local wheat market. Very little business is passing, and there is a wide range of prices for the diil'ercnt qualities, prime bright samples being sold at from 3s. 3d. to 3s. 4d. at country stations, but these prices are for exceptional quality. Lines suitable for shipment have changed hands at 35., though not much business has been done during the past week. For inferior descriptions (practically fowl) wheat up to 2s. lOd. has been given. There is not the same keenness in inquiry for oats as was tho case ten days ago. and the fact that the Southland market is rather weaker has made business slower. Growers are asking up to 2s. at country stations for gartons, arid Is. lid. has been paid. This week potatoes have further firmed, as the crops are now in pit, and growers not anxious to sell. WHEAT AND FLOUR. .By Telccraph-l'ress Assoclation-Copyrlehi London, May 23. The wheat and flour .afloat for the United Kingdom totals 4.095,000 quartersfor the Continent, .1,960,000 quarters; Atlantic shipments, 278,000; Pacific, 15,000. The total shipments to Europe during 'the week amounted to 1,240,000 quarters including 129,000 from Argentina, 580,000 from Russia, 76,000 from India, and 52,000 from Australasia. (Itec. May 24, 9.15 p.m.) London, May 24. Wheat is very dull of sale: 345. 6d. is asked for South Australian and Victorian January-February shipment. (Rcc. May 24, 11.10 p.m.) Melbourne, May 24. The wheat market is very . weak. The price of. flour was reduced 10s. to-day, und la. now £8 10«.

Adelaide, May 24. Ar .showing the expansion of the wheatgrowing industry, it is mentioned that the railways hauled 361,678 tons of wheat during the present season to date, against j. 263,173 tons for the corresponding period oi s last season. s Sydney, May 24. ; Tho Millers' Association has reduced the - price of flour by five shillings—to £9 10s. ; a ( ton. j PRICES OF METALS, i (Rec. May 24, 9.15 p.m.) : ' London, May 24. i Copper.-On the spot, £56 7s. 6d.; three 3 months, £57 6s. 5d.; electrolytic, £59 10s. '. p'jr ion. Tin-On the spot, £150 155.; three months, £152 per ton. Lead, £12 15s. per ton. BANK OF NEW SOUTH WALES. t ' » A REFERENCE TO NEW ZEALAND. ; (Rec. May 24, 9.15 p.m.) : Sydney, May 24. \ At the half-yearly meeting of the Bank ' of New South Wales it was reported that ' the net profits for the hall-year wore ' £133,938, which, with the undivided balance ; from last half-year gives £229.043 for distri--1 bution. A dividend at the rate of 10 per cent, was declared, £40,000 was added to reserve, £5000 was added to tho officers' provident fund, and £49,643 was carried forward. The chairman stated that the past year had been a good one for Australasia. The export trade had shown great activity, and tho import trade had not shown any undue- expansion, but had evenly kept pace with requirements. In New Zealand the tendency to inflation to which reference was made last year had been checked, and the position there had much improved, and gave no cause for anxiety. The colony was prosperous, and the bank's business had been conducted on reasonably conservative lilies. , MINING NEWS. WELLINGTON SHARE MARKET. Waihis were extremely firm, and sold up to £8 17s. 6d. yesterday morning, but were weaker in the afternoon. Talismans were lower than oil the previous day. Good business was done in Ross Goldfields at

', 12s. to 12s. 6d. The sales for the day were '" as under:— Old Hauraki, 4s. sd. (third call). Saxon, Is. 9d. (third call). 55 Talisman, 545. 6d. (second call); 545. 6d. « (third call) I Waihi, £8 165., £8 165., £8 16s. -3d. (first II call): £8 16s. 6d., £8 17s. 6d. (second call). >f, Avaitangi, 2s. Bd. (second call). >1 Ross Goldfields, 125., 12s. 3d.. 12s. 6d.(sec- _ ond call); 12s. 6d., 12s. 6d., 12s. 6d. (third 58 call). J3 QUOTATIONS. - Buyers. Sellers. Rales.

° STOCK BXOHANGB. t (By Telegraph—Press Association.) ' Auckland, May 24. s Business was done on 'Change this morns' ing as follows:— I,' May Queen, 4s. 7d. [.- Sylvia, 4s. ), Saxon, Is. lOd. f Waiotahi, 4s. r Consolidated Goldfields, 21a. c Hauraki, 4s. 6d., 4s. sd. } Talisman, 495. 3d. to 555. . Waihi, £9 to £8 17s. Grand Junction, 345., 335. 7d. Wilson's Cement (old.), 475. 3d. The following business was done at the afternoon; call:— .. . , ;"' Old Alburnia, lid. Consolidated Goldfields, 21s. r Old Hauraki, 4s. 5d., 4s. 6d. ," Talisman Consolidated, 555. '•' Waihi, £8 17s. 6d., £8 18s. 5 Waihi Grand Junction,- 335. 6d., 335. 3d. 5- May Queen, 4s. 7d. , , Watchman, 2s. 'I Auckland Gas, 70s. J Milne aud Choyce.lß prof.), 235.-6 d. D . Wilson Cement (ord.), 475. 3d. '.' South British Insurance, 645. Dunedln, May 24. J Stock Exchange sales :— 5 May Queen, 4s. sd. . ,■ . . Waihi Grand Junction (forward delivery), £1 13s. 6d. Sales reported:— -, Waihi Grand Junction, £1 12s. 6d.. £1 135., £1 135., £1 12s. 9d., £1 135., £1 13s. 6d. . Old Hauraki, 4s. 6Vd. f Waihi, £8 18s. Island Block, 2s. 6d. . -

>1 £ s. d. £ s. d. £ s. d. Kuranui Caled'n ... 0 1 6 — — May Queen — 0 4 7 - New Sylvia. 0 3 10 0 4 1 — , Old liauraki 0 4 5 0 4 6 0 4 5 o Saxon 0,18 0 1 10 019 , Talisman • 2 14 3 2 14 9 2 14 6 p Waihi 8 15 6 a 16 6 8 17 6 » Waihi G'd Junction 1 12 9 1 13 G - p Wauangi - 0 39028 a Blackwater 110 0 - - "l Con. Goldlields 10 6 116 - t Progress 013 9 015 0 - £ Eoss Goldfields 0 12 4 0 12 .8 012 6