FINANCE AND TRADE.

New Zealand Times, Volume LXXI, Issue 4297, 5 March 1901, Page 6

FINANCE AND TRADE.

The Customs ' returns for yesterday amounted to £3875 19s 3d. Tho Agricultural Department lias received the following cablegram .from the Agent-General, dated 3rd March ; —IS utter, 100 a, demand good; New Zealand butter is giving satisfaction to buyers. Cheese, 50s, market dull: consider prices for cheese are likely to improve. Hemp market is very firm; good fair Wellington, £23 10s: fair current Manila, £33 , auction sales this week closed with strong demand. Cocksfoot, nominal, 325. Writing on the .general condition of the markets of the United Kingdom on January 16th, Messrs De Lissa, Sons and Co. make the following interesting comment;—-The Board of Trade returns for the year show that the value of the imports was 523 millions, as against 485 millions in 1899, while! the exports were 354 millions, as against 329 millions in 1899. These increases, however, are much more apparent than real, for, as ii matter of fact, a very much diminished import and export took place as regards quantity, although' the enhanced prices of so many commodities swelled the totals to the above figures. It fs unnecessary to wade through all the items, hut we give a few instances. For example, raw and manufactured cottons increased less than 64 par cent, in quantity, but 10G per cent, in value, or more than double. Imports of copper actually fell over 34 per cent, in quantity, but increased 24 per cent, in value ; whilst coal and coke increased but 3 per cent, in quantity, but were raised 36 per cant, in value.' Various journals point cut that high-water mark has been reached, but in the middle of last year wo called attention to this fact, and predicted declines. Foreign competition has had a great deal also to do with our falling off, and this foreign competition has been greatly caused by the increase in price of our materials. .Taka iron and steel as ah example; the Continent and America have been unusually busy, and it is a world-wido known fact that all orders for railway materials, locomotives, etc., have been picked up by America. This can hardly he wondered at when our coal 1 has risen 8s per ton on the average, and it is said that every shilling in the rise of coal moans 5s per ton in the cast of iron. COMMERCIAL CABLES. PRESS ASSOCIATION. , LONDON, March 3. FRO2TEN MEAT. Tho following arc the official nuocations of the Frozen Meat Trade Association frfr mutton and lamb in lots of 100 carcases of fair average quality : ' Mutton—New r Zealand crossbred we- . thers and maiden ewes-—Canterbury, ‘d lower, at 4|d per lb: Dunedin and Southland, unchanged,, at 4Jd per lb; North Island, jid low'er, at 4d per lb. River Plate crossbred or merino wei thers—Heavy, 7-16 d lower, at old ; light, 3-16 d lower, at 31 d. Lamb—Prime Canterbury, unchanged, at Cd per lb ;< fair average (including Dunedin, Southland, Wellington, and secondary Canterbury), unchanged, at s|d. i New Zealand beef—Fair average quality, 1801 b to 2201 b, ox-fores, Jd Higher, at 31d per lb; ox-hinds, -Jd higher, at 35 d. OTHER PRODUCE. Hides are dull. A few sold at about i d decline. Basils have declined J-d. Wheat.—The Angerona’s cargo sold at 30s lid per quarter. COPPERSupplies received during February totalled 19,907 tons, deliveries 19,816 tons. The stocks on hand total 28,995 tons; advised from, Australia, 2550 tons, TIN. f3took* total 10,008 tong; on 5p0t4859 tonaj' liffoat, $590 tom TALLOW, Stock, 19,006 casks; imports for the month totalled 4714 casks, and deliveries 3093 casks. SILVER. Bar silver is quoted at 2s 4Jd pew oz. STANDARD INSURANCE COMPANY. DUNEDIN, March' 4. At tho annua?" meeting of tho Standard Insurance Company, the report, cle--1 daring a dividend ot 7i per cent., and a bonus of 2"- per cent., was adopted. Mr J. Reid (the chairman), in moving the adoption oi the report, said the directors were in a position to place £SOOO- to the reserve fund, which will then stand at £25,000, the amount at which it stood before the great Melbourne fire, which obliged them to fall pack upon it. This tund being restored t,o its former position, the directors had seen their, way to recommend in addition to the half-yearly dividend of 7) s per cent., payment of a bonus of 21 per cent. After these appropriations the paid-up capital and reserves will amount to £115,000. It was intended to carry forward to the credit of the profit and ■ loss account £G692 12s 2d. or rather over £IOOO more than last year. The year had not opened quite so favourably as last. Considerable property in Australia and New Zealand had been destroyod by fire. Tho company had had its share of losses, but at tho same time, it was fortunate. The premium income exceeded that of the previous year by £4706. The ratio return from interest was 4.11 per cent. Tho losses were £29,829, giving a ratio of 53.77. The outlook, proceeded the chairman, was very encouraging. He referred with re. gret to the death-of Mr David Baxter, who had been identified with the cora- ■ party'- since i ts' formation. having" ■ served twenty-seven years as a director. Messrs J. Reid and 1). Haynes were re-elected directors, and a minute recording tho death of Mr Baxter was ordered to be , forwarded to the bereaved widow.