COMMERCIAL ITEMS.

Dominion, Volume 4, Issue 1142, 1 June 1911, Page 8

COMMERCIAL ITEMS.

INVESTMENT SHARES. Yesterday Westport Coal shares changed hands at 295., which, represents an advance of Cd. per share on the previous sale. Taranaki petroleums were done at 18s. The buying and selling quotations were a3 under: Buyers. Sellers £ s. d. £ s. d, National Bank 5 19 0 - Bank New Zealand 11 14 0 — N.Z. and River Plate 1 19 9 - Well. Trust and Loan .... - 7 16 6 Wellington Deposit 0 8 3 — Palmerston Gas 8 15 0 9 0 0 •South British Insurance 3 8 0 . — Gear Meat (£4) - 13 12 6 Meat Export (625. 6d.) - 3 6 0 Union Steam — 2 10 Tauniri.Coal 110 ' - Westport Coal 19 0 19 3 Levland-O'Brien 17 0 — N.Z. Drug - 2 9 6 Sharlnnd's Pref 14 0 — Taranaki Petroleum 0 17 0 0 18 0 The course of sales during tho past month was as follows:— Rational Bank, £5 19s. National Mortgage, 685., 68s. 6d., 68s. 6d. V/cllington Investment, lis. 6d. Wellington Deposit. Bs. 3d. Christchurch Gas, £9 155., £9 155., £9 15s. Gisbornc Gas, 625. 3d. Wellington Gas (£10). £19, £19. Christchurch Meat, £16. Wellington Meat Export (£4), £5 ss. Union Steam. 425., 41s. 3d., 41s. 3d. Wellington Steam Ferry, Us. Taupiri Coal, 21s. Westport Coal, 28s. 9d., 235. 6d., 295. Donaghy Rope anrl Twine, 235. Id. Leyland O'Brien, 275. 3d. New Zealand Drug, <9s. 3d. Mountain Rimu, 30s. Taranaki Petroleum, 145., 16s. 3d., 10s. 9d., 18s. 6d., 17c. 6d., 18s., lEs. Taringamutu Totara. 505., 60s. . Wellington Opera House, £8. Ward and Co., £5 Is. 6d.

BRITISH AND AUSTRALASIAN ■ TRUST. Tho accounts of tho British and Australasian Trust and Loan Company, Ltd., for the twelve months ended December 51 last show a net profit of £18,094, a3 against £16,677 in 1909, and a balance at credit of profit and loss of £28,090. A dividend of 2s. 6d. per share and a bonus of Is. per share absorb £14,000, leaving £14,090 to bo carried forward. In accordance with the wishes of shareholders the directors are gradually closing up the business. Sinco the date of tho balance-sheet terminable debentures and 3J per cent, debenture stock have been further reduced by a considerable amount, which ha 3 been provided out of the liquid assets. The liabilities comprise capital £200,000, debenture debt £566,602, interest due and accrued £9863, as well as minor items. Assets consist of cash £32,086, loans at short call £67,000, investments £103,274, loans and properties held in Australia, after providing for contingencies £750,985, and interest due in Melbourne £7305. NOTES. The United States Motor Company has recently exported automobiles to some twenty other points in tho more remoto parts of the world. Among these are Java, Manila, Argentine Republic, Cape Colony, Transvaal, Hawaii, Trinidad, Australia, Singapore, Uruguay. A steadily increasing demand for American motor-cars in these countries reflects a, high opinion of the •United States products. Tho "Wall Street Journal" says:—The distribution shows a pronounced leaning toward the utility truck, this being particularly true in many Latin countries. Although the people havo not as yet fully realised the advantages of tho automobile for business purposes, the demand for utility cars is a growing factor in America's export trade, the standardised machines gaining in favour against the diversified types of European manufacturers. The fire premiums of the Alliance Assurance Company last year amounted to £l,3ii/,462, and there was an underwriting surplus of £323,747. The marine premiums were £195,642, and in addition fhero were life, accident, and other departments. After distributing £395,500 in dividends, there remains £391,162 at credit of profit and loss. The total funds of the company roach £18,373/99.

The report of the Phoenix Assiiraneo Company for 1910 states that the. net fire premiums amounted to £1,410,000, and that a profit was shown of £105,429. making; with £53,622 in interest received, £222,101 carried lo profit and loss. The company also grants accident, marine, life, and otlier insurances, but the fire department is that by which it is bent known outside the Mother Country. A dividend of 35 percent is announced on the capital, and the total r^°™l''n P .l of tnc com l ,a!l y arc- stated at £13,704,244.

Holland is one of the few frectrade countries in the world. Rut it appears that the party now in power is looking to the Customs to supply revenue with which to carry out certain social reforms, and that duties of from 3 to 6 per cent, arc proposed on partly manufactured imports au'/l from 10 to 12 per cent, on wholly manufactured goods. Kvc-i so, those duties will he low according to the ideas of most protectionists, but still it will bo going back on the principles which have hitherto rul ed in the Netherlands Parliament

The revenue of the Canadian Dominion in the financial year ended March 31 reached £M.CCC,OCO, and the surplus was -£G,25u,Cf.0. both items the largest on record. Mr' Fielding, the Finance Minister, in announcing the figures, said they were a fair indication of the prosperity of the Dominion. Bui. in addition, they were a rellcx of the enormous quantity of capital anil merchandise poured into the country.

The New York, Stock Exchange keeps exceedingly quiet. During March only 6,920,783 shares were dealt in, as compared with 14,991,901 in March last year, and no fewor thin 32.250.842 in March. 1907. In fact, it was the quietest month since March, 1897 In the first quarter of the year the sales ware 22.475,567 shares, asainst 55,103,047 ta

the corresponding quarter last year, and 79,565,306 shares in the first quarter of 1966. Not for a, long time has gambling in Wall Street been so out of favour, WHEAT. TIIE RUMANIAN HARVEST. By Tolograph-l'isss Association--CuDyrlght. Bukarest, May 30. It is officially announced that the Rumanian wheat is in good condition, and promises to yield about 20 per cent, abovo the average. NEW ZEALAND PAPER MILLS CO. [By Telegraph.—Press Association.) □ unedin, May 31. At the annual meeting of tho New Zealand Paper Mills Company, the chairman said that for the first time in their history there had been u falling-oir in profits. This was duo to keen competition by English ar.<i Foreign manufacturers. Owing to cheap labour and abundant supplies of the best raw materials, all grades of paper and light bags were landed in tho Dominion at very low rates. Another factor was the phenomenal drought in Southland, so that only half tho power at, Mataura. Mills was available. Tho balance was £1125 less than last year. Owing to the Woodhaugh fire the directors recommended a reduction of tho dividend to 6 per cent.' for the year, carrying £1603 forward. This amount with the reserve should meet the fire loss. The mill at Woodhaugh would not he rebuilt till tho arrival oj an expert from England. PROPERTY SALE. Messrs. A. L. Wilson and Co., acting under instructions from the registrar of the Supreme Court submitted to public auction at their rooms yesterday properties at Upper Mutt and Ka.rori. The firm sold tho Upper Ilutt property of 1 aero 2 roods, together with buildings, to Messrs. Miller and Ruttcr for £1400. The Karbri properties and interest therein were disposed of to a private, buyer at £6CCO.