COMMERCIAL.

Evening Star, Issue 12101, 6 November 1908, Page 6

COMMERCIAL.

A Wellington message states that the Customs returns for the September quarter are £818,742, against £867,842 for the same period last year. At Auckland the amount was £189,812, at Wellington £222,033, Christchurch £117,433, and Dunedin £115,778. The excise duties for the same period were £26,495, against £26,138 last year, of which the beer duty was £25,517, compared with £24,491 for the quarter last year.

COMMERCIAL PROPERTY.

The following is taken from the'report of the Commercial Property and Finance Company, to be presented to the annual meeting : —The profits for the year, after providing for interest on deposits, rebate on bills, expenses of management, etc., amount to £1,380 17s 9d, to which has to be added balance from last year, £197 12s sd; total, £1,578 10s 2d. Amount transferred to had and doubtful debts reserve account, £1,500; balance to be carried forward, £7B 10s 2d. Owing to heavy losses sustained during the year, mainly by the failure of two of the company’s largest customers, your directors regret that they cannot recommend the payment of the usual dividend. The business for the year, otherwise, has been active and satisfactory, and the year’s operations show a slight increase as compared with last year. THE BANKING WORLD. AN EXPERT’S COUNSEL. Press Association—By Telegraph—Copyright. LONDON, November 5. (Received November 6, at 7.55 a.m.) Sir Felix Schuster, addressing the Institute of Bankers, suggested that the present was a favorable time for the accumulation of a gold reserve, since trade was falling off and the production of gold increasing. Serious proposals must be placed before the banking world during the year as the cycle of dear money appeared to have ended, and a cycle of lean years is apparently in sight.