COMMERCIAL.

New Zealand Herald, Volume XLIX, Issue 14950, 25 March 1912, Page 5

COMMERCIAL.

THE LONDON MARKETS. flj Telegraph-— Asioeiaticn.—Copyright. (Received March 24. 5.5 p.m.) London, March 23. BABBITS. The rabbit market is flat. Best Salpeys, store., 16s; Victorians, 14s 6d. WHEAT. Wheat: Australian cargoes have sold at 38s, .38s ljd„ 38a 3d, and 38s 4Jd respectively. 1 COTTON. Cotton : March-April shipments. 5.86 d. coriu. Copra is firm. South Sea (in bags), £24 17s 6d. JUTE. Jute : March-April shipments, £24 15s. HEMP. Hemp is quiet. March-Mav shipments, £21 15s. RUBBER. Rubber, 5s 2d. HIDES. Hides are firm. BUTTER AND EGGS. The wholesale quotations for butter and eggs for .the week ending March 30, are aiT follows :—Butter (factory),. Is Oid per lb; butter (farmers'), 8d per lb; egg 3, Is 3d per doz. PROGRESS OF OIL FUEL. [FROM Orß OWN CORREfFONDENT.] London", February 16.

The Americans are going ahead with oilengined ships, and it is stated that there will be» 15 such vessels oa. the Great Lakes next year. The Pacific Mail Company also is planning a lino of large, fast vessels of 16.000 horse-power to run between New York and the Far East, by way of the Panama Canal, San Francisco, and Honolulu. There will he four ships, all burning oil fuel, and costing nearly .5600,000 each. The principal fuel installation will be at San Francisco, but a depot will also be erected at Honolulu. The run between New York and San Francisco will be made in 17 days, and oil will be carried in the double bottoms of the vessels as well as in the bunker tanks. Meanwhile, at Home, our own Admiralty has placed heavy contracts with Soottisli oil companies for liquid fuel for the Navy, and refined oil for submarines. The Government has acquired a seaboard site near the new naval base at Rosyth for the erection of oil storage tanks.

HUGE TOBACCO PROFITS.

[from our own correspondent.] London*, February 16. The Imperial Tobacco Company, of Great Britain and Ireland, ha 3 had another wonderfully successful year. The trading profit shows a rise of £384,600 to £2,787,000. After meeting fixed charges and normal depreciation, writing £125,000, as against £150,000, off properties, and allowing £50,000, as compared with nothing, for pensions, there is a net profit of £2.341.300. The transfer to general reserve is doubled at £500.000, and the dividend on the "B" deferred ordinary shares is increased from 10 to 15 per cent., making with the bonus of 15 per cent, a total return of 30. as compared with 25 per cent. The bonus to customers for the first six months of the year amounts to £88.300, against £79,800, and the carry forward, which includes the bonus for the second half of the vear, amounts to £236,600, or £9100 more. The 4£ per cent. first mortgage debentures are to be repaid on Julv 1. at 105 the outstanding amount is £1.592,000.