COMMERCIAL.

Otago Witness, Issue 2509, 16 April 1902, Page 45

COMMERCIAL.

An Auckland telegram says : — The local bakers notify an advance in the 21b loaf of £d — viz., to 3id — from Monday. Mail advices give interesting particulars concerning the enormous profits being made by the Standard Oil Trust. It is stated that they declared a dividend of 20,000,000d0l on their 100,000,000d0l etock for the first quarter of this year. This gigantic trust in 1891 paid 48,000,000c10l in dividends. From 1891 to 1695 (inclusive) the corporation paid dividends at the rate of 12,000d0l a year. In 1896 they aggregated 31.00d0l a share; 1897, 33.00d0l a share ; 1898, 30.00d0l a share ; and 1899, 33.00d0l a share. No other corporation in the United States has ever made euoh a record. Since Ist January, 1897, 212 per cent, has been paid in dividends, which represent disbursements of 212,000,000 dol on a capital stock of 100,000,000dc1. The surplus of the corporation is said to be in excess of 75,000,000d01. A better idea of the extent of this trust's dividends can be obtained by comparing them with the disbursements of other corporations. For example, it is estimated that the Pennsylvania Railroad, whose dividend disbursements have been larger than those of anyother railroad in the United State?, has paid its shareholders something less than 200.000,000d0l since its incorporation in 1846. This compares with 212,000,000d0l paid by the Standard Oil Trust in only five years! An Auckland message says that at the Mitchebjon Timber Company's annual meeting the year's profit was stated to bo £7622 A dividend of 10 per cent, was declared, and £1418 carried forward. Locally (szys the Oamcru Mail) 4s a 'bushel has been offered for old wheat with out leading to business. There is, however, little to be got, though a few lines are still in first hands. Holders, however, do not «how any disposition to sell, anticipating better offers. In new wheat there is really nothing doing, as no samples are coming forward, holders of good wheat preferring to await developments We have heard of 4' being offered for a line of prime milling wheat saved before the weather broke, hut the offer was declined. There is a feeling that prices will go higher yet, and some people who do not reflect upon the facts, talk of 5s being touched. It is important for farmers to consider carefully the limit of safety in this matter.