COMMERCIAL.

Otago Daily Times, Issue 7652, 27 August 1886, Page 2

COMMERCIAL.

Dully Times Office. Thursday evening. The amonnt of customs revenue received t.o-d> •n food* cleared for conimtnptlon wat £98218s sd.

AMERICAN COMMERCIAL.

Messrs Henry VV. Feabody and Cos. market report dated Bo3ton, July 24, states that the most interesting feature in the market has been the marked advance of from 15 per cent, to 20 per cent, in wool. Hardware prices present no change of interest, and manufacturers expect higher rather than lower prices in the near future. Kerosene had declined J cent since previous month, and was quiet for 8g cents for Devob's 110, low screw, in lots of 10,000 cases. Turpentine was firm at 33Jc to 39c. The combination price for barbed wire remained at 3;}e less 2 per cent, per lb, while a decline might take place soon. Freights to New Zealand w< re quoted at 25s to 30s. The Mary A. Greenwood, which cleared on July 2, took 2750 cases kerosene, 100 do lubricating oil, 50 do turpentine, 150 barrels sugar, 203 reels barb wire, and a general cargo for Dunedin.

NORWICH UNION FIRE INSURANCE ANCE SOCIETY.

The report of directors of the Norwich Union Fire Insurance Company submitted to the Smeral meeting of the court of proprietors on ily 6 hhows that the net premium income for t le year ending 31st December, 1884, amounted t > £577,207 6s 9>l; the net premium income for 1885 amounted to £588,841 0s Id ; showing an increase on the previous year of £11,64313s 4d. After setting aside one-third of the premium> (£196,280) as a reserve against liabilities on policies not run off, the balance at the credit ol profit and loss account, including the unappropriated balance (£80,661) brought forward from the previous year, is £162,186, out of which an interim dividend of £2 per share was paid in January last, and a further dividend of £2 per share has been declared by the board and will be payable on the Bth of July. The reserve fund will be in creased to £250,000, and a. balance of £98,186 carried forward to next year's account. The business of the year has not presented any abnormal features. Mr E. P. Simpson was unanimously elected to fill the vacancy in the directorate, and Messrs R. A. Gorrell and G. Forrester who retired by rotation, were reelected directors.