COMMERCIAL ITEMS

Dominion, Volume 8, Issue 2370, 28 January 1915, Page 8

COMMERCIAL ITEMS

INVESTMENT SHARER, In the' investment chare market yesterday there were sata of Bank of New Zcaland (old) at £10 2b. 6d., and (new) at £16 55.; Palmarafcon North Goe at £12. The (/natations were as follow:— IlUTOri. R#>llay«i

P. AND 0. COMPANT. The report of tho f)o(irrl of diroj;tor« of lite Peninsular and Oriental S.N. Company, In id before t.he seventy-fourth ordinary general mcetinp in London, is publishod in "Fairpla.v" of December 10, which arrived by the Knnfjlisli moil. Referring U> the report, "Fairplay" Bays: In consequcncc of the depression which !/>ok ploce in the Hhippinp trndo at tho rsloeo of l/]*t year, and which extended up to September this year, the 'company's earnings, notwithstanding tho increased tonnage employed, have, decreased to |,h« fiitcat o! £210,155, tho profits, howesec*

borne suffioicnt to provide for l.ho normal depreciation and to jiny tho UKtjnl dividend and bonus on the ordinary shares. Whilo a diridond and bonus of 15 per contrive ono the impression that, l.ho proiUn from chipping arc ol an exceptional character, it should be liorno in mind Hint this amount is distributed on o, compo.niti.vely small part of the capital of tho company. Tile preferred and deferred capital tho debenture capital, n nd l.ho reserve funds used in the biurincK6 toljil no !e<?6 then £7,124,000. and tho <vmount. n.vn.l!able, after providing for tho nnrmnj doprcciation this yoar of 5 per cont. p<\r n.nirnm on the cost, rcprctfonlfl a profit of only 4.96 per ccnt., which, considering thai, ttio company/tins the whole of tho immranro risk on its fleet, ip only a. small rcyturn for tho risks run.

As compared with a year ego the company's gross receipts show a -rtocrcfltic of £112,900; the working oxpensos wero X3C0.536 more than a year ago, hilt the navigating end general ships charges showed a docrease of .€200,000, the result being, <m stated above, a decrease in the proflta of £210,000. It will be seen that the amount of cash and investments has boon reduced to the extent of £855.100. rt would appear that this is in confluence of £538,479 more than a year ago being paid on steambuilding, and to sundry balances being £325,000 lero than a year ago. Nearly ho If the company's fleet, or upwards of 200.000 tons, has been commandeered by tho Admiralty as armoured cruisers, hospital ships, or transports, at ratca yet to bo fixed. As theee vessels wero taken up at tho commencement of tho war and tho |>atee of freight are not at present known, it w to bo presumed that tho wholo of tho earnings of those vessels have not been included in tho present accounts, and that therefore next year's earnings will bo increased accordingly. From Oetobor 1 the British India. Company's floot is token over by tho company, making the total tonnage owned by the P. and 0. Company 1,256,884 tons gross. PANAMA EXHIBITION. Tho Panama Pacific International Exposition will be openod on February 20. Thcro will be no postponement. One of tho main reasons which makes a. postponement i-mpracticablo is the immense aum of money invested, amounting to over £11.600,000, Such a sum is too vast to be allowed to remain idle The exposition palaces are completed. Exhibits have been placed. in every exhibit nalaco' excopt the Palaco of Mno Arts, and displays from every section of tho world are arriving daily. Tho 36 mural painting*, the work of tho world 0 greatest mural artiste, have been completed and put in place, with the ex- : ception of the canvases of Frank Brang-' wyn and the murals intendod for the Tower of Jewels, and tho Palace of Fine Arts. The Zone, where £2.062,500 will be spent in amusement enterprises, will be ready for tho opening day, ond there are now 40 concessions ia various stage* of constructions. In the State and foreign area 30 State and territorial pavilions are either completed or under way. Sixteen foreign buildings hove been begun, of which fivo are virtually finished. Customs duty collected at the port of Wellington yesterday amounts to £5054 68. 7d, SYDNEY WOOL SALE. ByTeleeraDh-Prwß Asscctfttion-Oopyiighi (Bee. January 27, 9.30 p.m.) .. ■ Sydney, January 27. At tnp wool sales there is koen demand «uitt prices now are nearly equal to the ola standards ruling in normal times. LONDON WOOL SALES. . London, January 26 uyere is a strong market for all 6orts, and. the market is firm. American buyers are operating. The following are the jtficee realised for tho fleece portions of the clips named:—"Goonoo," top price 13i<L. average price 112 d.; "Coongoola, top 12d., average llgd.; "You," top 13d., average Murrum, 'top 12M., average 113-Bd.; Milletream,' top 9£d., average- Bd.; Karatha, top 9d., average Sd.; "Ngakonui, top 16d., average 15id.; "Piako," top average 14id.

The New Zealand Loan and Mercantile Agency Company, Limited, have received the following cablegram from their London house under date January 26:—"The wool market is active, America and Franco are competing. 1 As compared with December, prices are higher for greasy merino super 7} per cent., mcdinm 10 per cent., faulty 15 per cent., soon red end greasy crossbred 5 to 10 per cent., scoured slipe ana lambs par to 5 per cent." BANK SHARE AND ■DEBENTURES. _' „ . London, January 26. The following ore the quotations for the shares and stocks mentioned:—

Bank of Australasia 112 10 0 Bank of New South Wales 40 2 6 Union Bank of Australia 64 0 0 National Bank of Australasia ... 5 5 0 National Bank of New Zealand... 5 6 3 Bank of New Zealand (old) 9 5 f/ N.Z. Loan Co., prior lien deb 91 0 0 N.Z. Loan Co., ordinary deb 82 10 0 Melbourne Tram, debentures 99 0 0 Melbourne Board of Works, deb. 9612 6 WHEAT. (Roc. January 27, 11.15 p.m.) . London, January 27. The American visible supply of wheat is estimated at 106,532.000 bushels. In the Chicago wheat pit. May options are ruling at 145£-l«2c. and July options 126Jc.-13»c. METAL MARKETS. _ London, January 26. ' Copper—Three months, £63 10s. to £63 15s. per ton; electrolytic. £66 10s. to • £67. Tin.—Tlire® months, £156 10s. to £157 per ton. Spelter, £33 ss. to £53 10s. per ton.

iiuyera. Belleie. £ 3. d. £ ft. d National Bank 5 4 0 — Union Bank 55 0 0 — N.Z. And. R. Plato 1 18 6 —. *WclJ. Trust, Loan, Ltd. 7 9 0 — Christchurch Gae. (£5) ... 7 10 0 — Napior Gas (£5) 10 0 — Well. Gao (£10 16 5 0 "Well. Gflfi (prcf.) 0 19 9 — N.Z. Inmimnco 519 0 — ChJ'ifltcburch Meat 16 10 0 — Goar (£4) 14 0 0 — Heat Export (£2 12b. fid.) 2 14 0 — Union Steam (prof.) 10 6 — Wcetport Coal 1 10 9 — W«=f porirKtooktou — 0 4 9 Ixjyland-O'Ilricn 116 — Manning and Co 4 7 6 — N.Z. Drug 2 4 0 — Ward and Co. 5 7 6 — 4 Gam. div.