COMMERCIAL.

Otago Daily Times, Issue 12415, 26 July 1902, Page 6

COMMERCIAL.

Daily TimeS Office, Friday evening. The amount of revenue collected at tho Dunedin Custom House to-day on goods cleared for consumption was £1272 10s Id.

THE NATIONAL BANKj. The directors of the National Bank of Now Zealand-, in their report for the year, ended 31st March last, say:—"The gross profits for the year, after deducting interest on deposits, making full provision 'lor bad and doubtful debts, and applying .£SOOO in reduction, of premises and furniture, and contributing to the Officers' Pension Fund, amount to ±128,15t 7s lid. There is likewise at the credit of profit and loss account tho smn of £8293 18s 8d brought forward from the previous year. From these liavo to be deducted the expense at head office anil branches, fG1,395 17s 2d, and rebate on bills, £1855 2s 3d. This leaves for distribution an available balance of £73,227 Is 2d. Tho directors recommend that £10,000 of tho above balance be transferred to reserve fund, which will then' stand at £150,000. An interim dividend at the rate of 8 per cent, per annum was paid in January last, and the directors now propose that a further dividend at tlje same rate be paid, making a dividend of 8 per cent, for the year. In addition, the directors recommend that a bonus of 2 per cent, bo declared on the paid-up capital of the bank, increasing the past year's return to 10 per cent. These payments would leave a balance of .£8227 7s 2:1 to be carried forward to tho current year. A branch has recently been opened at Gore, with an agency at Waikaiaj and Alexandra has been constituted an independent branch."

PROPERTY SALE. The Otago Farmers' Co-operative Association of New Zealand (Limited). report liaviug sold Mr Wilson's farm, of lG2.'ams, ot.Lqvell's Fiat, at a satisfactory price to Mr W. James, of Clydevale. INVESTMENT STOCKS. A sale oi Milburn Lane and Cement -Company V shares (10s paid) was made oii tlie'Dunedin Stock Exchange yesterdav at 15s. The following are yesterday's quotations National Mortgage—Buyers £1 15s Gd. Milburn Lime and Cement (10s paid)— Sellers 15s Donaghy's Rope and Twine—Buyers £11 ss. Bail', Leary, and Co., stock and sharebrokets. JJunediii.—lnvestment shares and debentures a spccmlty. Comnnmicatioijs invited re investments ror small or large sums. Investment AdYt" 0311 market quotations.—