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COMMERCIAL ITEMS.

INVESTMENT SHARES. Sales of investment- shares recorded yes- . terday were: New Zealand and River Plate Land, 40s. 6d.; Wellington Investment- at • ll.s, 9d.; Wellington Gar, (£10), at £10 7s. ? 6d. The buying and selling quotations ) were as under:— Buyers. Sellers . £ S. d. £ S. d Bank of New Zealand ... — 12 1 0 1 National Bank — 6 10! • Well. Investment 011 9 012 3 Christchurch Gas — 912 6 , Gisborne Gas — 3 10 i Well. Gas (£10) 18 5 0 - I Well. Gas (new) — 3 0 0 Canterbury Meat 6 0 0 — Christchurch Moat — 1410 0 Me.it, Export (.£4) — 5 0 0 Meat Export (525. 6d.) ... — 3 10 Union iStcim 119 6 — Kaiapoi Woollen — 511 0 Well. Woollen' (prof.) ... — 119 0 Ilikurangi Coal — 10 0 Wcstport Coal — 18 9 Manning and Co 3 15 0 4 0 0 N.Z. Drug — 13 0 N. 2. Paper Mills 10 0 — Shariana's ordinary 13 3 14 0 Sharland's preference 13 6 14 6 Taringamutu loiara 2 7 6 — \\ ard and Co 4 15 0 5 0 0 Well. Opera House — 5 0 0 Whiteoinbe and Tombs ... — • fls 0 Wilson's Cement 2 0 9 — . BANK OF AUSTRALASIA. The accounts of the Bank of Australasia for the half-year ended April 10 last show that the net profits amounted to £198,460, as compared with £195.723 in the corresponding half of the previous year. "Whh the balance brought forward a yum of £214,185 was made available, of which the dividend (at the rate of 12 per cent, per annum and foonin of 16* per share) ahsorbs £128.000. The reserve fund is increased by the Addition of £:0.C(0. hank- premises are reduced by ££O,OCO, and a balance of £16,185 is earned forward. Tho distribution to shareholders is at the rate of 15 per ccnt. per annum, as in the two immediately preceding terms. During tho past twelve months deposit? have increased by £1.42?.«5; liquid Corsets a.ro larger by £9911,159. while advance* have expanded by £815.493. The reserve fund now stands at £1,869,000. or £260.CC0 above the amount of the paid-up capital. PROPOSED COMMONWEALTH BANK. According to Australian advices the Bill for the creation of the Commonwealth Bank gives clear indication that tho in* tention is to endow that institution with all powers to carry on ordinary and savings bank business throughout Australia., as well a.? in London and elsewhere, and the Government is to guarantee its t-rahr-actions. It is to be empowered to hold real and personal property, carry on av.y business, and so on. With respect io the Government guarantee, it is stated tha-t there is no right to sue the Commonwealth. Can the bank be sued? Then, too. arif-M the question whether, as this is a GovernI mont institution, any debt due to the I bank would be a and override other creditors? If that were the case, tho public would hesitate to deal with anyone who was in debt to tho institution. That the whole rim is to compete against established private entcrpriro is evident, and it is to be honed that statement that, the Bill is not t-n be proceeded with this session is correct. THE ARGENTINE. ! The Commerco and Tourists -Division of ' the Department "of Agriculture. Commerce, and Tourists has received tho cablegram from Buenos Ayres, dated No- . vember 7, 1911.—"The following shipments J of produce wero dispatched from the Ar> centine to the United Kingdom ports during October, 1911 (compared with October 1310) 1911. 1910. Frozen beef foua.rtersl: 0 SG.7C6 Chilled bee/ (quarters) 189,CC0 1 Frozen mutton (carcasses) IC'I.COO 2£'3,G74 Fro«n lamb (carcase) ... <-o.roo 19,116 Butter (owl.) 1.840 • — ' r BRITISH P.O. SAVINGS BANK. 5 The jnbilce of the British Post Office j Savings Bank war; celebrated on September / 16 last. The statistics nhow that th» eav- J ing habit of tho poorer portion of the t population must have developed at quite 1: ae grea>, a rate ay their wealth. The do- f posits for the first sixteen months to the j end of tho year 1862 amounted to over £2,0C0,0C0, ecmat to about 14s. per head of the population, whilst last year they at- \ tained the total of £50,C00,0C0, etjual tc I 1 over 20s. per head. The sum due to de- s positors went up during the half-century from J31.7C0.CC0 to £169,PC0,C00, a truly astonishing expansion. Tho l'os> Wiuo venture did not, of course, interfere in tho least, with the ordinary banking business of the country, but it certainly greatly affected the Trustee Savings Banks, whi'.-h \ perhaps v;as only natural, as they were i not then on that secure basis upon which v they have since been placed. During the i first decadc of tho Post Office Banks tho net transfers to them from the Trustee * institutions were no less than £1,671,0C0 • or nearly 5 per cent, of the amount out- I standing to the credifc of Trustee Bank « depositors at the end of 18G2. Under the t improved inspection regime of later years r the position of the Trusteo Banks ha? , advanced considerably, and they now form 1 a useful auxiliary to the State inetitu- c tions. The increase in the amount due «' to depository during the last fifty years d has in their case been about £10,CCO,CCO. v Customs duty collected at the port of s Wellington yesterday amounted to £2534 a 19s. lOd. . ! < WHEAT AND FLOUR. [ By Telegraph—PreS3 Association-Copyright € London, November 6. ( The wheat and flour afloat for the United i Kingdom totals 2,860,000 quarters; for the Continent. 1,260,C00 quarters: Atlantic ship- 5 mcnts, 357,000; Pacific shipments, 26,000. Tho ' total shipments to Europe during tho week I amounted to 1,265,C00 quarters, including 1 27.CC-0 from Argentina, 350.C00 from Knssj.i, £8,000 Danubian, 51.C-C0 from India, and 185,'.QJ from Australasia. TRADE IN ALLEN STREET. Fruit.—The Aoraugi. due on Friday, is bringing a consignment oi Californian apples, and bananas, pineapples, and oranges from tho Cook Islands. The Moann, due from Sydney this afternoon, / is bringing further supplies of mandarin?, f. oranges, and lemons. The Navua, with the usual monthly shipment from Fiji, in J duo on Friday. Further shipments vi. J arrive before Christmas. Ueavy supplier. £ of lemons have reached the market, and | values have declined considerably. l Onions.—Californian continue in good de- | mand at £12 10s. per ton \ Old potatoes are in heavy supply, and t the market has cased; the current quota- I tioii is 80s. to 853. per ton. J Rice Hour meets with moderate tale at f £5 15?. per toil. f Bran is in more plentiful supply, and f is quoted at £6 to £6 ss. per ton. I Pollard is selling at £6 ss. to £6 IC-3. g per ton. I Flour.—New Zealand is without alteration e at £9 ss. 6d. pur ton, whilst Australian t flour is standing at £10 ss. to £10 IDs. (j Rolled oats are in moderate request D at 9s. Sd. to 10s. per dosen. < Oatmeal is slow of sale at £15 ICS. per f, ton. Oats.—"A" grade aro crnotod at 3s. 7c to 3s. Cd. per bushel, with "B" grade a, halfpenny lower. Fowls' wheat is in good demand at Js. sd. to 4s. 6d. per bushel. Maize—Seed varieties rule at 6s. 3d. to 6s, 6d. t whilst feed maize is selling at ss. fc Bd. to 3s. 9d. a bushel. t Cane barley is dull of sale at 3s. 6d. per < bushel. ; Feed barley is realising 3s. 3d. to 3s. i 4d. per bushel. r : Baled straw is ruling at £3 £e. to £3 lCs. i per ton. ■ I Olover hay is short of requirements, and { is quoted at £5 lCs. per ton. | Jlams and bacon are in fair request, \ hams. 9d. per lb., sides Bid., rolls 91d. '] Fresh eggs arc in good demand at ltd. ? to lid. per dozen. Butter.—Prime milled in bulk is quoted at JGJd. per lb. Cheese—Best factory, medium size, 6s<i.; loaf, 7Jd. per lb. j Margarine is slow of sale at 6{d. , Vegetables.—Green peas continue to arrive in a heated state from Nelson, and have had to be quitted at Is. to 3s. per bag; prime samples are worth much ) lughor rates. Cabbages are selling at ! 3s. to ss. 9d. per sack, aro quoted a.t Bs. to 9s. 6d. New potatoes arc \ In heavy supply, and are now selling at j id. to lid. per lb., according to.sample, j Rhubarb is selling at Is. fid. to per < dosen bundles. Parsnipa and carrots are 1 in good demand at fis. to 7s. per «*aok. ' Poultry is in good demand, liens, ss. 6d. to ',s.; cockerels. 4s. to 65.: ducks. Es. to Cs. per pair. Turkey gobbl-TS, Ed. to 9d. per lb., live weight: hens, 6d. to 7d. Tho first Italian Bank to open an offico of its own in London ia the Crcdito Italinno of Milan. This institution has twenty-two branches, and is or.c of the leading commercial banks in Italy. It holds deposits and current accounts to tho amount of over £14,ECO,CCO, whilrt its paid-up capital stands at nearly £3.CC0.C(0, and reserves total £375.490. Ths London establishment will be the only branch of the bank outsido Italy. The total production of tho cmdo oil in tho Californian fields during the first half of the present year was 40,366,212 barrels. Of this amount tho Sun-j-et Midway fields stand first with a prodnetion of 9.5C0.GC0 barrels. Tho Cape Town Barbour Board has docidcd to grant a- site at tho docks to a British company (or tho storage there of oil to bo used as liquid fuel on vessels driven by steam generated in oil-heated * boilers.

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Bibliographic details

Dominion, Volume 5, Issue 1280, 8 November 1911, Page 10

Word Count
1,590

COMMERCIAL ITEMS. Dominion, Volume 5, Issue 1280, 8 November 1911, Page 10

COMMERCIAL ITEMS. Dominion, Volume 5, Issue 1280, 8 November 1911, Page 10

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