COMMERCIAL.

Otago Witness, Issue 1890, 10 February 1888, Page 18

COMMERCIAL.

The National Mortgage and Agency Company of New Zealand has declared a dividend of 2£ per cent, for the half-year, making, with the interim dividend, 5 per cent, for the year. No large quantity of cornsacks has been quitted during the week, but the market is firm at Is per dozen, and available stocks are not large, the bulk being in the hands of one or two holders. There is a moderate business passing in Nelson hops at up to Is per lb for small parcels of choice quality* In the metal market galvanised iron continues to be held for an advance. Fencing wire benefits by the improvement, and is held for £10 10s to £11 per ton (leading brands). There is pot likely to be much demand for it, however, until after harvesting. Millers' lines have ruled during the week as follow :— Flour, £9 to £9 10s per ton.; oatmeal, £8 10s per ton; pearl barley, £18 pep ton j pollard, £3 10a per ton ; bran, £2 10a per ton; cho#, £2 5s to £2 10a per ton.

The annual meeting of jthe shareholders in the Equitable Investment Company of Now Zealand (Limited) was held yesterday afternoon at the com: pany's ofSco, Liverpool street, the Hon. W. H. Reynolds in the chair. The report and balancesheet for the yeir ended Docember 31 was laid before tue ajeeting, and a resolution was paised approving the report, and declaring a dividend for the halfyear just ended &4 the rate of 7 per cent, per annum,

which with the interim dividend declared in July last makes 7 per cent, for the year, carrying forward to the new profit and loss account £78 Is lid, and to the reserve fund £698 3s 9d. Messrs James Hazlett and W. Downle Stewart were re-elected directors, and Messrs Edmund Smith and Alexander Sligo auditors Mr Donald Stronach reports the sale of section 9, block 111, Waikaka district, 200 acres, at a satisfactory price— one of the few remaining sections of the Merino Downs estate. Mr Montagu Pym reports having sold at auction on Monday, under instructions from Mr GK A. Clark, his property in Duke street for £615, the purohaser being Mr Arthur M'Donald ; also, by private treaty, at a satisfactory price, sections 46 and 48, block XI, North Harbour and Blueskin district, containing 20 acres, the purchaser being Mr George Adams. The New Zealand Loan and Mercantile Agency Company (Limited), Dunedin, have received the following telegram from their London office, under date 3rd inst. :—" Tallow.— There is a fair trade demand, and since last report there has been an advance of 6d per cwt." By the 'Frisco mail news of an advance in the price of leaf tobacco is confirmed, and the agentß for the " Juno " brand have been instructed to make an immediate increase of £d per lb. A further rise is j considered probable. At the cattle sales at Greymouth 80 head of bullocks, the Mocgreger's lot, from Wanganui, were sold from £8 17s 6d to £8 10s. Fox and O'Neill's, Wanganui averaged £9 15s all round. Beef is quoted at 21s to 22s 6d. The sheep market is glutted, and a large, number were unsold. Prices wore from 9s to )ob. Lambs are also in excess, and are sold at 4s 9d to 9s, The Wallabi lost 15 bullocks on her trip through rough weather.