COMMERCIAL.

New Zealand Herald, Volume LIV, Issue 16498, 26 March 1917, Page 3

COMMERCIAL.

v LONDON MARKETS. ; MONEY AND PRODUCE '-'KATES./A. and N.Z. Cable. LONDON, March 04. BANK OF ENGLAND RETURNS. The Bank of England returns for the week ended March 22 compare- with the returns of last week as under :— March 22. March 15. Coin £52,070.000 £61,987.000 Reserve 84.588.0C0 3-4.161,000 Note issue 37.824.000 38.073,000 Govt, deposits ... 67.711,000 86,377,000 Other deposits ... 121,335.000 119.114.000 Govt, securities ... 24,051.000 24,081,000 Other securities ... 151,821,000 165,425,000 Proportion of reserve to liabilities 17.99 16.62 INTEREST AND DISCOUNT. Short loans' are quoted at 4} per cent., against 41 per cent, last week. . The rate of discount for three months' bills is 41 per cent., as against 4 9-16 per cent, the previous week. *> CONSOLS AND COLONIAL STOCKS. Tho following are the latest London Stock Exchango Quotations for colonial, inscribed stock, and a. comparison -with those reported a week ago: — VariaPrice. tion. „ £ S. d. 8. d. Consols. 1] per cent. ... 53 5 0 10 0* British 3} p.c. war loan. . .1925-28 ... 86 0 0 10 0* British 41 p.c. war loan 1925-45 94 O 0 Same. N.Z. 4 p.c.. 1929 84 10 0 10 01 N.Z. 31 p.c., 1940 70 17 6 7 flt N.Z. 3 p.c, 1945 62 2 6 20 01 South Aus., 31 p.c, 1930 70 17 6 7 6t . South Aus. 3 p.c. optional 56 2 6 2 6+ '.'Tas. 31 p.c.. 1920-40 ... 70 5 0 5 Of j Tas. 3 p.c. 1920-40 ... 03 10 0 10 Ot I W.A., 3} p.c. 1915-35 ... 70 0 0 6 Of | W.A.. 3 p.c.. 1913-35 ... 70 0 0 5 Or N.S.W., 4 p.c. 1933 ... 80 10 0 10 Ot N.S.W., 31 p.c, 1918 ... 96 12 6 Same. N.S.W., 3} p.c. 1930-50... 67 17 6 7 6t N.S.W.. 3 p.c. 1933 ... 68 0 0 5 0* . Victorian 4 p.c, 1920 ... 94 10 0 Same. ; Victorian 3} p.c. 3921-26 82 0 0 Same. Victorian 81 p.c, 1929-49 66 0 0 Same. j Victorian 3 p.c. 1929-49 61 2 6 Same I Queensland 4 p.c, 1924... 88 0 0 15 Of : Queensland 31 p.c, 1831-30 85 5 0 5 OfQueensland 3 p.c. 1922-47 61 2 6 5 Of * Lower. 1 Higher. CEREALS. Wheat is firm arj unchanged. Flour is steadily hardening. Australian patents, 66s to 675. Oats are advancing. No La Plata art offering. Peas and beans are strong. METALS. Coppor: £133 Ids; three months, £135 ss. ■ Lead: £29 10s; three months. £30 10s. Tin: £212 ss; three months, £213 2s 6d. . Silver: 35id per ounce standard. COPRA. HEMP AND RUBBER, Copra: February-April shipments. £41 10s. Hemp: February not offering. Rubber: Para, 3s 2id: plantation! 8s lid: smoked, 39 l{d. . RABBITS. Rabbits are slow and unchanged. FROZEN MEAT. Mutton: New Zealand. Old: Australian, 91d; South American, lUd. Lamb: New Zealand. 10} d: - Australian. 101 d; South American. 13d. LONDON STOCK EXCHANGE. A. and N.Z. Cable. LONDON, March 24. Waihi, buyers 33s 3d. sellers 34s 3d. FARMERS' AUCTIONEERING CO. DIVIDEND OF 8 PER CENT. The annual meeting of thi» Farmers' Auctioneering Company wa3 held in Hamilton lon Saturday. There was a .good attendance - of shareholders. The chairman at directors, Mr. J. Barugh, presided- ' In moving the adoption of the report and balance-sheet, the chairman said that during the year there had been' a large increase in the business of the company, equal to nearly 6'J per cent., while the increase in the capital was only some 25 per cent. More capital was necessary to cope with the business now offering. The profits'for the year, -including £2100 brought forward, _ were £28.133, from . . which it was proposed to pay a dividend of 8 per cent, on ordinary shares _ and 6 per cent. on preference shares, absorbing £14,121, leaving 13,711 to be carried forward. " The reason for this departure Was to provide for the present and any'-extra taxation which :,.- might be imposed. He hoped that any fresh J |fe taxation would not press so hardly on young and progressive companies.' The excess pro- ■ : - fits tax' paid was over £5000. •■'- ' ■ Mr. Barugh said new yards ,had .been ' "■ erected at various centres, and other premises v had been improved and enlarged. The company had installed a seed cleaning plant. ~ *•; which it was hoped would induce tho fanners './■ to go in for seed saving. During the discussion on the report and balance-sheet the chairman said it was not ~: considered advisable to make public certain ,"'* information, but it was.'always available* for ... th» shareholders. , ',& ■■-'-. " ■ : . ■ .' .'..„.-, It was decided to send a Jotter of sympathy to Mr. A. J. Storey, managing director, whose health, has not sufficiently im- ' proved to allow him to take an active part in the business. , '■■-■.: Tho retiring directors were Messrs. D. R. ".-■-. Caldwell and T. Paterson. The former was '' appointed to tho position of special director,. and Mr. Paterson and Mr. H. J. Gill were - ; returned for the vacant seats. -; ' ■"' Messra. Bruce and' English were reappointed as auditors, f ■ • .-- '. ..'< ' '■