COMMERCIAL ITEMS

Dominion, Volume 7, Issue 2130, 23 April 1914, Page 8

COMMERCIAL ITEMS

INVESTMENT SHARES. Transactions in investment shares yesterday consisted of sales of. Wellington Invostmont at 11s. lid. and ■ Ohristchurch Moat nt £16 7e. 6d. The Quotations were ae follow:— Buyers. Hellers. £a.d. ' £a. A. Bk. N\ Zealand (£6 13s. 4d.) — 16 ■ 5 0 National Bank 5 7 0 — Equitable Building 3 0 0 — Metropolitan Building .... — ' 12 0 0 Well'nsrton Investment ... — 0 11 3 Chrietchurch Gas — 7 10 Palmcrston North Gas ... — 10 10 0 -Wellington Gas (£10) 16 6 0 16 7 6 Well.. Gaa (preference) ... 0 19 7 — Gear Meat (£4) 14 7 6 - Meat Export (£5) 5 10 0 . - Meat Export (525. 6d.) 3 2 6 3 3 9 Union Steam (ord.) — 16 3 Union Steam (pref.) 1 0 4 ~ — Kaiapoi Woollen (ord.) ...'550 • — Well. Woollen (ord.) 4 16 - Westport-Stockton • 0 2 7 0 3 6 Leyknd-O'Brien — 13 3 Tarincamutu Totara, 2 5 9 — 0. M. Banks, Ltd 12 6 '— Golden Bay Cement- 0 17 3 W.F.C.A. (£1) - 16 0 AUSTRALIAN MUTUAL PEOYIDENT SOGIETI". sixty-fifth: annual bepokt. According to the sixty-fifth annual report of tho Australian Mutual Provident Society, which has juet been issued, tho amount of new business transacted during tho yew in both ordinary end industrial departments is again a. record. In tho ordinary department 24,328 policies were issued, β-ssiirinc £7.029,635 el'prc* niiunis amounting to £226.243 per annum, and the industrial department issued 30,037 policies, assuring £1,125,596 nt premiums amounting to £72,002 per annum. Tho iiet increase in business in forco haa been 13,919 policies for £4,131,537 In the ordinary department, and 18,064 policies for £661,848 in tho industrial department. Claims by death in the ordinary department amounted to £967,125. of wliich about a third., vis., £322,103 was bonuses. In the industrial department tho claims, including bonuses, amounted to £8839. Tho report of the actuary, Mr. Richard Teece. F.1.A., F.F.A.. discloses a cash. surplua of funds over liabilities in the ordinary department a.mounlin(r to £1,180.881. Out of thie the board has resolved to dlstributo £975.881, which will produce TCTerpionary bonuses β-tnountine to about £1.730.000. The basis of the valuation has been further strengthened, and the contingency roservo has been increased. In the Industrial aecartment. where also tho basis of valuation hns been strcnzt.hencd. there ie a eurplus of £9205. part of which will be distributed a 6 bonus to policies which have be<ML fivfl years aji'd over in force. The effective rate of interest has risen from £4 12s. sd. Ncr cent, to SA 13s. M. per cent., while the expenses of management in tho ordinary department have been reduced from 13.76 per cent, to 13.51 per cent. , of the premium receipts. The report is on thie occ:isiou eicecdinsly full of information, a? it contains- tho schedules and returns lor the Male Governments. Taken a.ll through it shows a fit-wf.T-tory position of affairs reEuitinc Jrorn lnne-continuod prdspcrity of a, most rratifyinK nature. FREEZING 'COMPANIES. Tho sena>ll has nroved an oiMptionally busy one for the freozine companies. Fa,'t cattle and sheep have como forward very freely, and everywhere a- certain prejsuro has been experienced. , Thio ta£ givea the

impression that the freesini; capacity of tho existing plant* is not equal to tho demand, mid this Idea is largely held in tho WeJlinston-West Coast, district. As a result there era delinito proposals under consideration, for the formation 'of new frcezinc companies. A nicetinp: was recently held at .Stratford lor thie purpose, and the project ie soid.to havo been taken up with enthusiasm, but whether this enthusiasm will be translated, into ■money remains to bo seen. In Fcildins also the -fanners arc said to be very stroncly in favour of a new freezing company and tho capital hna been iised at £150.0C0. At Taihapc and in tho Waika-to. there are schemes in hand for the formation o£ new freezine companies, nnd the Akitio district must also furnish, a freezinc company if tho compooi- recently mado with the , Minister of Marine is lo be observed.■ Besides these projected new companies, additions ore proposed to the works of existing concerns. Tho Wanzanm Meat Frcozinz Company is offering tho balance (7153) of the unissued shares, and in the circular .i.Dpcaliue; for eunport tho directors state that further increase in the capacity of tho company's works has become an urcent necessity, os they aro unable with tho present eauipment to. cope- with tho stock offerins. The Wanganui Meat Frcczins Company has been established for 24 years, and the present paid-up capital is £43,966 10s. It is proposed to carry out further crtcnsions end improvements to the works at a cosl of about £10.000. and hence, tho issuo of the 6harcs. There are persistent rumours that t.ho Beef Trust has obtained a. footing in New Zealand, and it is stated that a SouthIsland busuiees has been acquired. Tho Beof Trust, operates very quietly, with never any noise, coneeaucnti'y it is ju6t possible that tho,persistent rumours ate correct. Tho English representative of the Beef Trust was in Now Zealand a very .short while ago, and it -is not believed that he was here- merely to gazo with delichl on New Zealand -scenery. Customs duty collected at the port t>l WcllinctoD yesterday, amounted to £.iii'. Us. Id. ■

FINANCIAL OABLEGKAU.S. ,Br Telegraph.—Press Aeeociation—Copyright • , London, April 21. . Veeterdiy's closlae Quotations wcro as (ollow:- . Bank of- Australasia, bujers £120. tellers £122. ... . • Bank of Now South. Wales, buyers £«, seller £40. .•■•■• Bank of Victoria, buyere £4 10s., sellers £4 15s. TJnioa Bank of Australia, buyers £57, sellers £59. ' National Bank of Australasia, buyers £5 155., eellere £6 sa. . tfational Bank o£. Now . Zealand, buyere £5/ sellers £5 10s. Bank of Now Zealand, buyers £10, selltjrs £10 10s. N.Z. Loan and Mercantile Asency 4 per cent, debentures, £91. City of Melbourne. .4 ter cent, debentures, £100. Melbourne Harbour Trust. 4 per cent, debentures, £101. ... Melbourne Tramway Trust. 4J rer'cent debentures, £102. Melbourne and Metropolitan Board of Worlio, 4 per. cent, debentures. £95. '. Australian Mercantile Debentures, £94 10s. ■ Dalsety and Co.. 4 rer cent d«bontnres, £93: ■ . , Dolget-y end Co.'s shares, buyers £6 10s., sellers £7. Melbourno Gaa Co.'s debentures, £99. City of Sydney, £100. GoldsbrouEh, Jlort and Co.'e dcienturei '£35 Ids. Bank of New Zealand. 4 per cent. guor> entced ■ stock, £IM.

THE METAL MARKETS. (Eec. April 22, 11.30 p.m.) London, April S3. 7s. 6d;; .3 months, £64 ss.i elcetrolytic, £66 lEe. Tin.—Spot, £161; 3 montliE, £163, WHEAT. (Eec. April 22, 11.30 p.m.) ' London, April ?,2. The wheat market is steady, with moderate iuciuiry. . . .SILVER. London, April 51. Bar silver 'is auoted at 26 15-16 d. ucr ounco standard. JUTE. April-May jute is auoted at £34 15s. MINING NEWS WELLINGTON SHARE MAB.K.ET. Talismans lad quittance yesterday at 3Es. 6i. and 365. 9d. Thia was the only business recorded In the mining market. Tho Quotations were as follow :— Buyers. Sollero. £ s. d. £ e. d. Con. Goldflclds — 10 0 ■Talisman 1 18 0 118 9 Waihi Grand Junction ... 1 6 9 — Waihi 2 3 6 2 5 0 Waitanni 0 Oil 0 11 STOCK EXCHANGE. TRANSACTIONS ELSEWHERE. (By Telegraph.—Press Association,) • u i.land, April 22. ■Sales on tno Stock Exchange thie moraine:— Talisman, £1 18s. 9d. Now Zealand Insurance. £6. Christchurch, April 22. Sales:— Christianrcb. Jfeat, £16 78. 6d. Grand Junction, £1 7e. Dunedln, April 22. Sales:-J«notion, £1 7s. Perpetual Trustee', £1 2s. 3d.