COMMERCIAL.

Mataura Ensign, 27 January 1912, Page 8

COMMERCIAL.

CHRISTCHURCH PRODUCE. PEB.TOTTED i-tfKSS ASSOCIATION. CHRISTCHURCH, Jan. 26. There is nothing fresh to report in the local wheat market. There is a good inquiry for new oats; and the few lots offering find ready j sale at current prices. There are but-j few white oats yet on the market the ] offerings consisting of Algerians and j l>uns for prime lines. Of the former itfp to 2s has been paid, but buyers arc; generally offered from Is lOd to Is lid: and. down to Is 9d for lighter samples. A few lines of barley have been of-' fered and growers are asking prices beyond what buyers considered their value. It is reported that a line of primo wait-ins; has been sold at 4s 6d to gd South, but 4s to 4s 3d are now the •best prices oriered at country stations. N.Z. PORTLAND CEMENT CO. DUNEDIN, Jan. 26. The annual meeting of the New Zealand Portland Cement Co. was held today. Mr P. Barr (chairman of directors) presiding. The directors reported that operations for the thirteen months ended November 30 showed that the net profits were '£10,861 6s 9d, while the balance forward from last year was £772 lis 3d. 'After deducting an interim divided of 4 per cent,,,on old shares there was a ■balance of £8433 18s. The directors recommended a further dividend of 6 per cent., estimated to absorb £5660 8s 3d, depreciation on plant and vessels taking £I9OO, and to carry forward £873 9s 9d. The report congratulated shareholders on the satisfactory results for the year, notwithstanding the fact that the works were still incomplete. AH machinery and plant had been maintained in a thorough state of efficiency, and the directors did not consider that there was any necessity for heavy writhing off for depreciation. A third rotary kiln should be in running order ■by the end of the month when the output was expected to be fully doubled at a reduced working cost. The demand for the company's product exceeded the present output. In moving the adoption of the report, the chairman mentioned that the profits for the year had benefited considerably Ironi the fact that low price contracts entered into some time agq had been running out and more payable business had been substituted. The report was adopted and the retiring directors and auditors were reelected. DEPRECIATION OF STOCKS. BI jnCWJTRia TELEGRAPH.—COPYRIGHT. FIB UNITED PBXBS ASSOCIATION. LONDON, Jan. 26. Lord Aldwyn at a meeting of London Joint Stock Bank, stated that nine of the largest London banks had written off £6,283,000 for depreviation of giltedged securities since 1903. The Joint Bank had adopted a policy of investing in short date bonds instead of consols. AUSTRALIAN MARKETS. SYDNEY, Jan. 26. Owing to the dry weather most produce lines are strong and advancing. .Wheat, 3s BJd to 3s 9d. Flour, new, £8 15s; old, £9. Oats, Algerian, 2s lOd to 3s; giants, 3s 5d to 3s 6d. Barley, Cape, to 3s 9d; English malting, 4s 6d to ss. Maize, 4s 4d to 4s 7d. Bran, £5 10s per ton. Pollard, £6. Potatoes, £4 to £7 5s per ton. Onions, £l2 per ton. Butter, selected, 126s per owt; prime. 106s to 114s. Cheese, 6d to 6|d. Bacon, 5Jd to 7d. MELBOURNE, Jan. 26. Hides in average supply, and market Very firm at one-eighth to a farthing dearer. ADELAIDE, Jan. 26. Wheat, 3s Bd. Flour, £8 12s 6d. Bran and pollard, Is 2d. Oats, 2s 9d. MELBOURNE, Jan. 26. Wheat, 3s B£d; flour, £8 10s; oatsAlgerian feeding, 3s to 3s 2d, seeding 3s 4d to 3s 6d; barley—Cape 3s 9d to 4s; maize, 4s 3d; bran, £5 10s per ton; pollard, £5" 15s; potatoes, to £5 15s; onions, £6 to £8 10s. LONDON MARKETS. LONDON* Jan. 26. The Bank of England returns show: —Stock of gold coin and billion, £37,019,000 /reserve, £28,682,000; proportion of reserve to liabilities, 48.70; in circulation, £27,811,000; public deposits, £19,657,000; other deposits, £39 214, 000; Government securities, f£15!270,000; other" securities, £32,970,000. ' The bank rate is 4 per cent. Short loans are discounted at 3|d •oer cent; three months' bills as follows : -London, 3 11-16; Paris, 3; Berlin. 3 1-8. > Consols are quoted **'»•• • Copper.-Spot, £62 2s Jd ; three months, £62 2s 6d; electrolytic, £65 /s 6d. ,

Iron.—l9s. fin. Spot, £194; three months £192. Lead.—-£ls ]2.5 0:1; si'.eltrr, i' 23 IDs; wolfram, 29s 3d. German .sugar 13s 2:1; first marks17s 4cl. Wheat.—The m ;i)k ets are quiet and are indi ']■: rciit. A .;:ii r~. official estimate of the Argai-t'ns croj :s 4,642,000 tans. T.ilrty-sei'pn and sixpence has been as;ua for South Australian November shipuisni; ;>7s 3d foi .March; 3is 3d- ijr \ ictorian loading; oGs Ad has been paid for a parcel of Australian January-February shipment. There is a quiet demand for Australia'.! spot at 38s. Flour.—The market is steady. Australian patents in store, 25s Gd. Oats are quiet. La Plata, JanuaryFebruary shipment, K>. (>.]. Butter is dull and buyers abstained as much as possible from dealing. Choicest Australian, 126s to 128s; occasionally, 130s. New Zealand, 130s to 1345. Some Victorian and New South Wales butter is showing signs of heat at time of manufacture. is quiet. New Zealand, 72s to Bacon is in fair demand. Australian, 44s to 50s. Messrs Dalgetv and Co., Ltd., have received the following cable from their head office under date London, January 23, 1912:—"Wool sales continue active; competition is brisk, and buying is general from all quarters. Fine merino wools are rather higher, greasy crossbred wools for America are 24 per cent, higher."