COMMERCIAL.

Evening Star, Issue 15137, 19 March 1913, Page 6

COMMERCIAL.

Silver is quoted at 26 3-16 d per oz. Letters of - allotment have been forwarded from London in connection with the Auckland Drainage Board loan. The question of. the importation of manure in bags came before the Chamber of Commerce at Timavu yesterday, the matter • arising out of a letter from the shipping companies 'to the Wellington Chamber stating that bags were objectionable and that barrels would be moro suitable. The chamber decided to convene a meeting of importers to consider the question. A country member said that barrels would be very inconvenient for farmers.

STOCKS AND SHARES. Press Association—By Telegraph—Copyright. LONDON, March 18. (Received March 19, at 10.45 a.m.) Banks : Australasia, £llO to £112; National of Australasia. £5 to £5 10s: National of New Zealand. £4 10s to £5; ex div.; lights New Zealand. £ll to £l2. New Zealand Loan and Mercantile Agency Company, £95 10s. COLONIAL CHEESE. Press Association—By Telegraph—Copyright. LONDON, March 18. (Received March 19, at 10.45 a.m.) The dairy show is offering prizes for colored and uncolored colonial cheese, also for collections of dairy produce. NEW SOUTH WALES LOAN. Press Association—By Telegraph—Copyright LONDON, March 18. (Received March 19. at 9.45 a.m.) The 'Financial Times' says that the New South. Wales bonds are finding favor with investors who have been hit by the fall i '. Consols, aiid who are desirous of obtaining a security which has no scope to fall, because it is redeemable within a decade. SYDNEY AGRICULTURAL SHOW. Press Association—By Telegraph—Copyright. SYDNEY, March 18. The following prizes were awarded to New Zealand exhibitors at the Sydney Show : Clydesdale stallion, two years and under three—Mr John Boag, jun'.'s, (Brookside, Canterbury) Earl Stewart 1, Mr S. Wilson's (Upper Riccarton, Canterbury) Baron White 2, Messrs Mitchell and O'Brien's (Oamaru) Colonel 3. Stallion, two years old—Mr S. Wilson's Baron White 3. Mare, four years old and over —Messrs Mitchell and O'Brien's Flower 4. Mare, three years and under four years—Messrs Mitchell and O'Brien's Balgonie 1 and reserve champion. Farm marc, three years and over—John Boag's Princess 1. Sheep.—English Leicester ram, two years and over—Mr John Nixon (Killinchy, Canterbury) 1 and champion. Ram under two years—Mr John Nixon 1. Ewe, two years and over—Mr John Nixon 1. Ewe. two years old—Mr John Nixon 1 and champion and 2.

THE WOOL SALES. Press Association—By Telegraph—Copyright. LONDON". March 18. The following prices were realised for the fleece portions of the clips named : JO, top price Is 3£d, average lUd: Moawhanga. top Is 2d, average Is O^d: Tuparupani, top Is o|d, average ll£d; Toko, top Is, average lid : Tokoranga, top average 10' d; Hahia, top lid, average lOJrl. (Received March 19, at 10.45 a.m.) There was a good sale; prices are unchanged. PROVIDENT LIFE ASSURANCE COMPANY. The annual meeting of the Provident Life Assurance Company was held yesterday in the Provident Building. The Chairman of the company (Dr W. S. Roberts) presided, and in moving the adoption of the report and balance-sheet said that he was sure all would agree that the accounts for the year just closed were of a decidedly favorable character. The company showed good results, and, as the figures revealed, continued to make steady progress. During the jy-ear 10,435 policies were issued for £383,011. The premium income had risen from £39,526 6s Id, the previous year's total, to £43,648 13s Od. an increase of £4,122. Both the amount of new business written and the increase in premium income were smaller than in 1911. which might almost certainly be traced to the prolonged bad weather in the first nine months of the year and the general tightness of the money market. The latter factor, however, had helped in another way, as they had been able to invest their surplus funds (now a considerable amount each year) to better advantage. The receipts from rents and interest (£3,034 6s 3d) exceeded the previous year's total by £606 3s 9d. On the other side of the account a point to notice was the increase in claims which had occurred chiefly among those arising from death. Though there had been an increase in the ratio of actual to expected deaths, the percentage was still no more than 88. The chief factor for the increase was the greater amount now at risk. The cost of collecting premiums was 11.56 per cent, as against 12.18 per cent, in 1911,-and expenses of management 11.69 per cent, against 12.38 per cent, in the previous year, a reduction in each case, which spoke for itself. By the issue during the year of 5,000 new shares, at a premium of 4s per share, the sum of £3,470 had been brought to the funds, which showed an increase of £12.735 for the 12 months, and now amounted in the aggregate to £78,479. From the balance-sheet it would be seen that a satisfactory increase had been made in the holding of municipal and Harbor Board debentures, which amounted to £33,914, as against £22,854 in 1911. This class of security was a desirable one for life offices, especially if the term was long. The value of existing securities had been carefully checked, and the sum of £217 lis lOd written off. Loans on freehold property amounted to £23,966 10s, the corresponding item in last year's balance-sheet being £24,807. The subscribed capital and funds now exceeded £123,000. They had reason to be well satisfied with the result of the year's operations. The directors had decided to enter upon the business of accident assurance. They believed that there was a good field for that class of business, which would be worked in conjunction with the life branch, and should become a source of considerable profit to the company. The general'manager, Mr W. M. Kirkcaldy, was now in England engaged upon important work, which had already borne good fruit in connection with the extension of the business and the strengthening of the resources. Mr Kirkcaldy, in London, selected Mr E. C. Pollard, A.LA;, for the position of assistant actuary to the company. Mr Pollard arrived here a few months ago, and as he had special knowledge of accident assurance, they would have the benefit of his services in establishing and developing the new accident branch. In concluding, Dr Roberts expressed the thanks of the directors to the management and to the staff for their very efficient services during the year. The report and balance-sheet were unanimously adopted. The retiring director, Mr C. F. GreenBlade, was re-elected, and Mr George Blvth was re-elected auditor.

NEW ZEALAND EGGS. Last week thorp arrived in London, by the Rotorua, 10 quarter-cases, each containing 300 new-laid eggs, which had been kept during their sis-weeks' journey at a temperature of 4odeg Fahr. The consignment found ready purchasers at the wholesale price or 8s per ]2O. "The eggs, when tested, were found to be in splendid condition," said a representative of Messrs H. A. Lane and Co., of Tooley street, S.E., the firm to which the eggs were consigned. "Although they have been sent some 16,000 miles, they can still fairly be described as 'new laid,' judging by an analysis. They compare very favorably with the eggs sent to this country from Russia and Denmark."—' British Australasian/ February &