COMMERCIAL.

New Zealand Herald, Volume XLIX, Issue 14932, 4 March 1912, Page 5

COMMERCIAL.

THE LONDON MARKETS. :#'['¥■■ ■ ' i, ''; . FROZEN' MEAT KATES. y • 111 1 .«-. Br Telegraph-—Press Association.— \ t * (Ilecclved March 3, 5.5 p.m.) V- " London, March 2. S«E£r* Canterbury and South Island are ■ unchanged. North Island, 3 13-lfid; beat ■' - brands, 4 Hod; New Zealand owes, 3J,d. '/>.-, Lambs: Canterbury, light and medium, ■ '''• V 9-16 d; heavy, unchanged; Southland, unchanged; North Island, 5 l-16d; selected ' brands, 5Jd. Beef is unchanged. - Australian. Sheep: light, 3 5-16 d; henry. 3 J-16d; ewes, 215-16 d: lambs, unchanged. ' ■ Beef: Fores, 2jd; hinds, 34d. South American.—-: Light, 3id; ?: ■ i: '?■'• heavy, 3id; ewes, 3d; lambs, first quality ' * 7-IW. second quality *ld. Beef: Frozen. (ores 2|d. hinds 3 11-16 d; chilled, foies 3^d, •' , ftinds 4 idBABBITS. • Babbits arc dull. Best Sydney stores, 15s , ' , Jo 16s. ■'.'; ANTWERP WOOL SALES. By Telegraph.—Press Association.Copyright. ;i :' London, March 2. \t, the Antwerp wool sales, which have *'""' hist, ' closed, 5551 bales wore offered, and Y i|ls bold. Merinos and tine, crossbrods sold •it fivo centimes below the January sales. ?H l Coarse- crossbreds showed a slight advance, H.S- '>; BANK OF AUSTRALASIA. By Telegraph.— Association.— 1 ; London, March 1. The report of the Bank of Australasia ' shows that a bonus of 10 per cent, has been Mid to the staff, and a dividend of 14- per cent, and a bonus of 3 per cent, declared. A sum of £50,000 was added to the reserve and £20,000 written off the premises* ac- , ■ count, while £16,075 was carried forward. UNION BANK OF AUSTRALIA. [tbom OCR owx CORP,2SPONDBNT.] < LONDON, January 24. ' ' The accounts of the Union Bank of Australia snow, alter provision for doubtful debts and contingencies, a uei amount ol profits of £177,610, inclusive of - ' £41189, balance brought forward from tile previous half-year, troin this the directors Save made the following appropriations: — £10.000 in reduction of the Dank premises account in 2\ew Zealand and Australia, and £20,000 as an addition to the reserve fund, which is thereby increased from £1,360,uuu • to £1,370.000. From the balance remaining the directors have resolved upon the declaration of a dividend at the rate of 10 - tier cent, per annum, equal to 25s per share, and a bonus of 2 per cent., equal to 10s per i - •hare, the dividend and bonus together being :-J"" at the rate of 14 per cent, per annum, amounting ,to 55s per share, absorbing I l £105,000. and leaving £42,510 to be carried , "', forward- ____^____ —- »_ — _ NATIONAL MORTGAGE AND AGENCY :'.; > ■ . COMPANY. f f j' ! [TKOM OUR OWX CORRESFOJTDBTr.] ■■'■>•■ . ' ' - LONDON, January 24. After paying all expenses in London and New Zealand, interest on debentures, and ' ■ a, bonus of 10 per cent, to the staff, and alter making full provision for bad and >* ■ doubtful ■ debts and depreciation on pre- ' ' . mises, plant, etc., the net profits of the - National : 'Mortgage and Agency Co. of New ' ' ■ ; Zealand amount to £41.149, which, together : with £9848 brought forward, gives an avail- •' able balance of £50,997. From this an interim dividend of Is 6d per share has already been paid, and it is proposed now to pay a further* dividend at the same rate, with a bonus of 2a per share, both free of income- , tax, making 124 per cent, for the year, to add £15.000 to the reserve fund, and to r • \ carry forward £10.997. The business during the year ended September 30 last has shown , k satisfactory progress. . Toe agricultural ;• • community of New Zealand suffered in some ",• districts from the effects of prolonged drought, but the prices obtained for wool, /rosea , meat and dairy produce, without caite attaining the previous year's level, , were, on the whole, satisfactory. Mr. Lind- " say Erio Smith has resigned the chairmanship of the company and the Board has . 'elected Lord Ebnry to take his place.