COMMERCIAL.

Otago Witness, Issue 3397, 23 April 1919, Page 24

COMMERCIAL.

The Australian Mutual Provident Society's annual report for 1918 has just bcen_ issued. Viewed from all standpoints, the society has probably never had a more successful year. The new business approaches 10 millions sterling, and the claims paid amounted to over £2,000,000. The society has naid away in war claims over £2,500,000, and the great recuperative power of the company will be seen when it is noted that, with the cessation of claims on the lives of the soldiers, tho cosh surplus to be divided has risen from .£554,000 last year to over a million on this occasion. It is expected that the pre-war rate of bonus will soon bs completely restored.

AUSTRALIAN PRODUCE MARKETS. SYDNEY, April 17. Oats: Algerian, feeding, 5s to 5s Id; milling, 6s 4d to 5s 6d; Tasmanian, 63. Maize, 7s 3d. Potatoes, Tasmanian, £ls to £l6 per ton. Onions, £l4 per ton. ADELAIDE, April 17. Oats, 4s 3d to 4s sd. O'AMARU MARKETS. (Feom Our Own Coerespondknt.) OAMARU, April 19. The stock market remains lifeless. At this week's sale the yarding of sheep was smaller than usual, and there was a semblance of readiness to buy. There was, a lack of competition, and the prices realised were low, tie following being the range: Two-tooth ewes, 265; four-tooth ewes, 28s; mixed two and four-tooth ewes, 265; mixed six and eight-tooth ewes, 25s to 27s 3d; mixed sex lambs, 14s. At a clearing sale this W'&ek good two-tooth ewes went' at 26s 6d, rape ewes at 19s Id, and fat and forward lambs at 19s ,7d. No sales of sheep by private treaty are reported, for, while there are sellers in plenty, buyers are hard to find owing to the feed outlook. Since the rain came there has been a little appeaarnoo of green in tho meadows, but frosts have set in, and any material growth of grass cannot be counted upon. ADDINGTON STOCK MARKET. CHBISTCHURCH, April 16. With the exception of fat lambs, there were fairly large entries in all departments at Addington. Tho yarding of store sheep was not quite as large as of late, and the market showed a little improvement. There was a small offering of fat lambs, and prices were a shade better. Pat sheep were entered in larger numbers than for some time past, and the market showed a good recovery from the drop of the previous week, the rise being from Is 6d to 2s 6d per head. Fat cattle were irregular, but on the whole prices were somewhat firmer. Store cattle were dull of sale, and the prices accepted were lower than for some years past. Fat pigs sold well, but stores were easier. . Store Sheep.—Two-tooth ewes, 21s 6d to 25s 6d; four and six-tooth, 22s to 23s 9d; sound-mouth, 12s to 20s; two-tooth wethers, 23's 7d to 255; small, 10s 9d to 18s 8d; four and six-tooth, 20s 3d to 21s 7d; ewe lambs, 14s to 20s; wether, lis Gd to 14s 6d; mixedsex lambs, 5s to 163 Id Fat Lambs.—Extra prime, 325; prime, 26s to 29s 6d; medium, 22s 6d to 25s 6d; smaller, 19s to 225. Fat Sheep.—Extra prime wethers, to 45s 6d; prime, 32s 6d to 38s 6d; lighter, 25s 6d to 32s ; merino, 30s 4d to 31s 3d ; extra prime ewes, 433; prime, 309 to 36s 6d; medium, 25s 6d to 29s 6d; lighter, 20s to 255; inferior, 14s 9d to 17s 6d. Fat Cattle.—Extra prime steers, to £32; prima, £l3 to £l9 15s; ordinary, £8 15s to £l2 15s; extra prime heifers, to £ls; prime, £8 to £l2; ordinary, £7 2s 6d to £7 15s; extra prime cows, £l3 15s; prime, £8 to £l2 15s; ordinary, £7 17s 6d to £8 10s. Store Cattle. —Fifteen to eighteen months steers and heifers, £2 4s to £3 2s; eighteen months to two year steers, £3 _ to £6 Is; eighteen months to two year heifers, £5 8s to £6: dry cows, £2 to £6;- bulla, £5 to £l2: dairy cows, £7 to £l6 10s. Pigs.—Choppers, £3 12s to £9 10s; baconers, £5 to £8 10s—equal to 9Jd per lb; porkers, £2 10s to £4 10s—equal to lOjd to 10|d per 1-b; best stores, 52s to. 60s; medium, 42s to 525; smaller, 25s to 345; wean-era, 8s 6d to 16s. LIVE STOCK MARKET. Burnside, Wednesday, April 16. Fat Cattle.—l 46 head were yarded, a fair proportion being good quality. The pricis for this class of cattle ruled at about last week's rates, but there was no demand for unfinished bullocks and cows. Best bullocks, £l7 10s to £lB 17s 6d; others, £l4 10s to £l6 ss; light and unfinished, £l2 to £l3 10s; prime heavy cows, £l3 10s to £l6; others, £9 10s to £l2 12s 6d. Dalgety and Co. sold: For clients, bullocks to £lB ss; cows and heifers, to £l2 12s 6d. Stronach, Morris, and Co. sold: For Wm. Lindsay (Momona), 1 bullock £l6 17s 6d, 2 £ls 2s 6d; Mrs Wm. Kirk (Mosgiel), 3 £l4; Walter Blackie (Mosgiel), 2 £l2. The New Zealand Loan and Mercantile Agency Co. sold: For Wm. Kirk (Mosgiel), 3 bullocks £l4; Wm. Lindsay, uin. (Allanton), 1 heifer £l6 12s 6d, 1 £9 10s.- —-Wright, Stephenson, and Co. sold: For W. Lindsay, sen. (Allanton), 2 bullocks £lB 10s; J. W. Kerr (Mokotua), 2 bullocks £l7 15s, 3 to £l6 17s 6d, 3 £l6 2s 6d: Mrs W. Kirk (Mosgiel), 2 bullocks £l6 15s; .Davies Bros. (Kelso), 1 heifer £l6, 1 £ll 2s Gd; Walter Blackie (Mosgiel), 2 bullocks £ls 17s 6d, 2 £l4; J. and C. Campbell (Momona), 2 bullocks £l4 10s; W. Lindsay, jun. (Allanton), 1 bullock £l4, 1 cow £11; a client, 1 cow £l3 10s, 1 steer £6 10s; M'G-illivray Bros. (Kelso), 1 bullock £ll 15s; Robt. Harvie (Woodsidc), 1 cow £ll 2s 6d; John Park (Kelso), 1 cow £9 17s 6d; Rev. T. Paul in • (Kelso), 1 cow £9, 1 heifer £6 ss. The Otago Farmers' Co-opera-tive Association sold: For Wm. Kirkland, jun (Eas- Taieri), 2 bullocks £8 15s, 2 £l6 15s; a client, 2 £lB ss, 1 £l4, 1 £10; George M'Leod (Momona), 2 £lB ss, 2 £ls, 1 £l4 10s: Wm. Lindsay, sen., 2 £l7; Mrs Wm. Kirk (Mosgiel), 2 £l6 17s 6d; Kirkland's Trustees, 2 £l4 15s; J. and C. Campbell (Allanton), 2 heifers £9 ss. Donald Reid and Co. sold- For J. and C. Campbell (Momona), 1 bullock £l6 15s, 1 £l4 10s, 2 £ls 2s 6d; Jas. Renton (Mosgiel), 2 £l2 2s Gd, 3 £l3 2s 6d; P. Spratt (Sutton), 1 bullock £lB 7s Gd, 1 £ls 17s 6d, 1 cow £ll 7s 6d, 2 heifers £ll 1 £lO ss, 1 £lO ss, 1 £8 15s; a client, 3 bullocks £l3 10s; F. Moynihan (Middlemarch), 3 bullocks £l3 10s, 3 £l3 15s, 2 £11; a client, 1 bullock £B. 2 £8 15s, 2 heifers AS 12s 6d, 1 £6 10s; T. Ayson (Wyndham), 1 bullock £l7 15s, 2 £l6 103, 3 £l4 12s 6d. Tho National Mortgage and Agency Co. sold: For R. Kirk (Mosgiel), 2 bullocks £l6 17s Gd; J- and C. Campbell (Momona), 2 bullocks £l6 7s Gd; Walter Blackie (Mosgiel), 2 bullocks £l4 2s 6d; John Wilson (Lauder), 8 steers and heifers to £l2 ss. Store Cattle. —A small yarding came forward, and sold at late low rates. Dalpretv end Co. sold: For John Wilson (Lauder), 15 steers £l2 10s, 1 £6 7s 6d, 1 cow £lO 12s. 1 £3; clients, 12 cows at quotations. Stronach, Morris, and Co. sold: For a client, 1 cow £3 ss, 1 £7 2s Gd, 1 £7 Is, 1 bull

£6 ss, 1 vealer £2 10s, 1 £1 12s; T. M'Carthy (Leith Valley), 1 heifer £7 15s; D. Buchanan (Green Island), 1 steer £9 2s. 1 calf 15s. Wright, Stephenson, and Co. sold: For Kobt. Harvie (Woodside), 1 bull £l2 -10 s; C. M'Laughlin (Mihiwaka), 1 bull £lO ss; M'Gillvray Bros. (Kelso), 3 steers £lO, 4 vcalers £4 Is; a client, 1 cow £6 15s, 1 £4 Is; Morton Bros. (Mount Cargill), 2 cows £6 15s. 1 £1; T. Landels (Gore), 2 cows £5 4s, 2 calves £2 15s, 1 £2 10s. 3 £1 16s, 1 £l, 7 15s; Mrs L. M'Kay (Mihiwaka), 1 bull |2 ss, 1 37s 6d. Donald Reid and Co. sold: For Thos. Maxwell, 1 cow £8 7s 6d. Dairy Cows. —A medium yarding. Ihe demand for good quality cows at profit was good, but backward oalvers met with a backward sale. The New Zealand Loan end Mercantile Agency Co. sold: For Donald M'Quilkan (Whare Flat), 1 £8 2s 6d - Wright, Stephenson, and Co. sold: For Morton Bros. (Mount Cargill), 1 £8 2s 6d, 1 £4; S. Robinson (Mornington), 1 £6 ss.——The Ota<*o Farmers' Co-operative Association sold": For a client, 1 £l4 ss. Donald Reid and Co. sold: For Thos. Maxwell, 1 £l2, 1 heifer £10; a client, 1 cow £9 15s; T. Edwards (N.E. Harbo-ur). 1 £ll 2s 6d; Geo. Buller, 1 £lO. Calves. —There was a medium yarding, which sold at late rates. Wright, Stephenson, and Co. sold: For Mrs E. Bell (Anderson's Bay), 1 ss; D. M'lntosh (Brighton), 1 255; F. H. Perry (Fairfield), 1 6s, 1 5s 6d, 1 ss, 1 4s 6d; R. Mathieson (Highcliff),_ 1 5 S 6d. The Otago Farmers'. Co-operative Association sold: For Mis E. Laverty (Green. Island), 1 37s 6d; Mr T. H. Pugh, 1 12s; T. G. Marwick (Mosgiel), 1 12s, 1 10s; J. Bishop (Highcliff), 1 7s; Hamilton Bros. (Caversham), 1 7s, 13s 6d. Donald Eeid and Co. sold: For J. and W. Ford (Pino Hill), 210 s; E. F. Small (Mosgiel), 2 ss, 1 10s; T. A. Wn.lker (Sawyers' Bay), 1 14s; Mrs Kilpatrick (Sawyers' Bay), 1 ss; R. Black (Anderson's Bay), 1 7s, 1 8s; J. Pryde (Mornington), 1 4s; .Hugh Gamble (Mosgiel), 2 2s; D. Adam (Green Island), 1 4s; George Brinsden (Brockville), 1 2s 6d. Fat Sheep.—The yarding consisted of 3102 sheep, the bulk being of medium, to inferior quality. Owing to the holidays and the pressure at the freezing works the sale could be described as one of the worst held at Burnside in recent years. Prime quality sheep sold at about Is advance on last week'3 rates', whilo medium and inferioT were down ©hillings per head. Prime heavy wethers brought from 40s 9d to 45s 3d; prime, from 34s 3d to 38s; medium wethers from 27s to 32s Gd: light; from 21s upwards. Extra prim© heavy ewes brought from 3€s 9d to 41s 6d;' prime, from 2Ss to 33s 3d; medium; 21s 6d to 25s 3d; light and inferior, from 12s 6d. Dalgetv and Co. sold: For H. Pembl© (Waikaka), 20 wethers 34s> 3d, 34 28s, 4 ewes 22s 3d ;E, Mawhinney (Wcdderburn), 25 ewes 24s 9d, 33 17s 3d; a client, 4 trucks, market rates; John Wilson (Lauder), 22 ewes 19s 6d, 39 12s 9d, 6 wethers to 34s 3d; R. L. Smith (Becks), 56 sheep to 30s 3d. Stronach, Morris, and Co. sold: For Ardmore Estate (Kelso), 19 wethers 41s, 45 39s 3d, 28 395, 48 87s 3d; James Pottinger (Ranfurly), 25 wethers 35s 9d, 20 32s 3d,. 4 ewes 24s 3d; D. Lawson (Pomahaka), 10 wethers 31s 9d, 15 265, 33 ewes 245, 30 21s, 24 18s 3d. The New Zealand Loan and Mercantile Agency Companv sold: For Cooper Bros. (Gore), 13 wethers 45s 3d, 9 435, 18 ewes 36s 9d, 18 29s 3d; Shand Bros. (Hillend), 14 wethers 43s 9d!, 11 43s 3d,...15 40s, 12 ewes 29s 6d, 9,26 s Gd; P. F. Kinney (Hyde), 19 ewes 2Ss 3d, 19 255, 6d, 6 24s 6d, 18 23s 3d. Wright, Stephenson, ajid Co. sold: For J. D. Simpson (Fairfax), 13 wethers 44s 6d; R. ,B. Meek (Oamaru), 30 38s 9d, 14 ewes 355, 16 27s 3d; executors late Samuel Young (Outram), 23 sheep 345, 10 32s 6d, 30 ewes 20s. The Otago Far.meijs' Co-operative Association sold: For James R. Smith (AVcdderburn), 18 wethers 31s Sti 32 16s 6d, 17 21s 6d; A. B. iuann (Kokonga), 11 wethera ewes 25s 6d, 27 225, 7 163 6d; North Olago Farmers' Co-operative (Oamaru), 32 ewes 24s 6d, 22 22s 6d, 10 18s; W. Hallum (Waikouaiti), 32 wethers 26s Gd, 37 20s, pen rams 21s, do 13s; C. Aston (Moa Creek), truck sheep, market rates; W. G. Dowling (Ranfurly), 82 ewes 2s 9d, 59 Is lid. D. Reid and Co. sold: For R. Leitch (Fairlie), 26 wethers 40s 9d, 10 37s 3d, 9 ewes 35s 3d, 8 32s 3d; J. F. Whyte (Pomahaka), 26 ewes 41s 6<J. 21 355, 11 32s 9d; J. W. Blair (Outram), 62 shecjp to 345; trustees late S. Young (Outram), 36 wethers to 34s 9d, 27 ewes to 25s 9d; T. Anderson (Poolburn), 38 we» to 32s 3d; J. G. Pearce (Waipiata), 31 ewes to 335; D. Leishman (Silverstream), 87 ewes to 30s; J. E. Watson (Gore), 46 wethers to 265, 14 ewes to 20s; Guinness and LeCren (Waimate), 133 wethers to 255; M. and S. Messent (Wedderburn), 141 ewes at quotations. The National Mortgage and Agency Company sold: For T. B. Hauptfleisch' (Bortons), 12 wethers to 33s 3d, 46 ewes to 21s 3d; E. C. Ewing (Pembroke), 22 wethers 27s 3d, 27 ewes to 27s 3d; P. F. Dougherty (Gimmerburn), 30 ewes 255; M. Marshall (Naseby), 70 ewes to 24a; J. M. Crutchley (Kyeburn), 38 ewes to 23s 1 Gd; John Wilson (Lauder), 65 ewes and wethers to 25s 3di; L. and C. Huddleston (Maiakanui), 70 wethera to 265; C; Marai (Ida Valley), 71 wethers at quotations. Fat Lambs.—The yarding consisted of 610 lambs, the bulk being of fair to medium. ouality. The lamb market was affected by Uie same conditions as those that ruled ihe sheep market, the result being that a large proportion was turned out unsold. Dalgetv and Co. sold: For R. L. Smith (Becks), 40 24s 9d, 39 19s 9d; E. Mawhinney (Wedderburn), 9 20s. Stronach, Morris, and Co. ild- For D. Lawson (Pomahaka), 6 io 21s; Jas.' Pottinger (Ranfurly), 11' 20s Gd, 7 17s 9<j The Otago Farmers' Co-operative Association sold: For C. Aston (Moa Creek), 15 at market rates; A. B. Mann (Kokonga), pen 235, 10 20s; Jas. R. Smith (Wedderburn), pm 19s 3d. Donald Reid and Go. soldi: For D. Leishman (Silverstream), 7 18s; Miss Lsisiman (Silverstream), 4 15s 9s;' W. M'Corkindale (Manuka Creek), pen 23s od; T Andcrfon (Poolburn), 33 18s 6d; J. G. Pearce (Waipiata), 43 203 6d. The National Mortgage and Agencv Co. sold: For E. 0. Ewing (Pembroke), 168 to 255; Geo. Manson, sen (Bannockburn). 38 2os; J. M. Crutchley (Kyeburn), 4 235; P. F. Dougherty (Gimmerburn), 4 21s. Pigs.—A moderate yarding of pigs came forward. Fats ruled at about last week's rates, while* stores sold at a decline. Stronach, Morris, and Co. sold: For Fred Williams (N.E, Valley), 2 £3 16s; a client. 1 £3 14s; J. M'Millnn (Green Island), 1 £2 ss, 1 15s. Wright, Stephenson, and Co. sold: For Mrs S. Sinclair (Mihiwaka), 3 pigs £5 Is; C. Cross (Poatiri). 2 £5 Is; F. Cuff (Green Island). 2 £1 19s; Jas. Miller (Mauneatua), 2 £4 4s. 3 £3 12s; a chont, 4 £3 12s- P Finlayson (Mnur.gatna), 1 21 s; Fred Hay (Mihiwaka). 3 15s, _ 3 12s 6d —— The Olap-o Farmers' Co-operative Association sola: For-D A. Smi'h (Henley). 2 « 16s, Q £6 13= 2 £5 6- 2 £3 3s; C. O. Anderson (Outram)' 2 '£6 2s 2 £3 10s, 2 £2 10s; T. H Pugli (North Taieri), 2£2 7s. Dono.ld Reid and Co. sold: For W. G. Sewell (Oamaru), 1 M 4s, 1 £5, 1 £1 17s, 1 £1 9s, 1 £1 8s 3 £1 3s, 9 4s 6d, 9 6s 6d; George Donaldson (Leith Valley),' 3 £3 Is, 3 £3; T. Fleming (Sandymount), 2 £3 10s; G. Larkins (Mornington). 2 £6 4s; J. Foots (Purakauui), S 225; P. Barling (Dunedin), 1 7a 6d, 5 ss, 6 4s.

THE FRUIT WORLD. Reilly's Central Produce Mart, Ltd., report au exceptionally busy 'week, a record in our history. Very heavy consignments of produce, fruit, and poultry forward, and considering the quantity available, prices must bo considered very satisfactory. Poultry: We sold a line of 42 White Leghorn pullets oil account of J. B. White at 10s 6d each, end cockerels at 21s each. Easter sales of poultry rather disappointing, owing to the •weather conditions prevailing. Eggs: Both fresh and preserved have come to hand freely. Potatoes have sold well. Butter is wanted. Chaff is rather easier in price. Honey: We secured an order for shipment on a basis of dhd per lb. The following prices were secured for our consignors:—Apples: Desserts, choice Coxs to 12s 6d; Delicious, to 14s 6d; Jonathans, to 10s; other dessert from 4s to 6s 6d; cookers, choice, 5s 6d to 6s Gd; inferior, to 4s 6dl per case. Lemons: "Mission" Brand, 425. Oranges: Valencias, 555. Grapes: Locals and Oamarus, Is ljd to 2s 2&d.■'. Pears: Desserts, 53 6d to 10s per cae; cooking, 3s to 4s 6d. Peaches: Choice, to 6Jd; jam, to 4d. Quinces: To 2Jd. Nectarines: To 6d. Plums: Desserts, to s:}d; jam, to 2£d. Chillies: 6s 6d per case. Egg Fruit: To 17s 6d. Garlic: To 5d per lb. Tomatoes: Otago Centrals, to 5Jd; Christchurch, to 4d; locals, to 9Jd; Nelsons, 4s 6d to 5s 6d per case. Green Peas: ljd to 4d. Butter Boons: To 5Jd. French Beans: To sld per lb; scarlet runners, to 4Jd. Potatoes: 8s 6d to 10s 3d per cwt. Cauliflowers: 63 to 10s per dozen. Vegetable Marrows: 10s to 12s. Cabbage: 43 to 10s 6d. Lettuce: To la 3d. Cucumbers : 3s to 9s 3d per dozen. Onions: Prime Aucklands, 10s Gd; Canterburys, 9a •6d. . Swede Turnips: 6s per sack. Bacon: Golden Bay rolls, Is 3Jd; sides, Is 2£d; 'hams,. Is 3Jd. Pigs:. Baconeis, prime to 9Jd; porkers, to 9£d; heavy weights, 6d to BJd. Bxitter: Bulk, to la 4d; separator pats, to la 6d. . Eggs: . Stamped and guaranteed, 2a 6d; preserved, Is lOd, Is lid. Honey: Sections (choice), lis per dozen; bulk, 6Jd. Tea: Special quality " Broken Orange Pekoe," 2s in slb boxes. Linseed Meal and Calf .Foods: 15s per 1001 b; Meat Meal: " Cross Keys," 18s per 1001 b. Molasses: 7s 6d per cwt, in casks; cases, 14s. Cape B'arley: 5s 6d. Ootsheaf chaff: Choice, £6 10s. Oaten Dust: 5s 6d per sack. Oaten Straw ."Chaff: £1 55." Wheaten Straw Chaff: £3 10s. Wheat: Choice, 6s 9d per bushel. Oats: Duns, 4s Id; Algerians, 3s 6d; A Grade Gartons, 4s Id, 4s 3d. Bran: 7s per 1001 b bag. Wheaten Pollard: 14s per 1501 b. Farro Food: 9a per 1001 b. Lime Sulphur: 2s 3d per gallon, in barrels; 4-gallon tins, 3s per 'gallon. Bluestone: 79s per cwt. Beeswax: 2s per lb. Egg Crates: 12s 6d. Poultry: Hens—l 7 at Is 6d>, 62 at Is 7d, 39 at Is Bd, 107 at Is 9i, 86 at Is lOd, 70 at Is lid, 176 at 2s; cockerels —10 at Is 6d, 22 at Is Bd, 1 at Is 9d, 12 at Is lOd, 27 at 2s Id, 22 at 2s 3d, 45 at 2s 6d, 9 at 2s 7d, 36 at 2s 9d, 14 at 3s, 8 at 3s 3d; geese—27 at 4s, 8 ai ss, 4 at 5s 3d each; ducks—23 at 2s 9d, 18 at 3s, 25 at 3s 3d, 6 at 4s each; cockerels —l7 at 3s 6d, S 3 at 3s 9d, 2 at 4s, and 1 at 6s. E. OSWALD REILLY, Managing Director. LONDON MARKETS. Messrs Murray, Roberts, and Co. have received!- the following information from their London agents,-dated the 11th inst.:—"New Zealand hemp:- Market dull with downward tendency. Rahbitskina: Strong demand. Prime, winter advanced 20 per cent, late season, and. mixed. 10 per cent., others unchanged." WALES- MINERAL OUTPUT. SYDNEY, April 17. The mineral output of New South Wales for 1918 is valued at £14,391,981, an increase of £1,439,262 —a record, chiefly due to high prices, the result of the war.—A. and N.Z. Cable. INVESTMENT STOCKS. April 17. National Bank —Buyers £6 4s. Bank of N.Z. (£6 13s 4d paid)—Buyers £lB 7s 6d. Bank of N.Z. (£3 6s 8d paid)—Buyers £l3 17s, sellers £l4. National Insurance —Sellers £3 183 6d. N.Z. Insurance—Sellers £l2 15s. P. and O. Deferred Stock—Buyers £393 10s sellers £396". Union Steam (pref.)—Buyers £1 Is 2d, sellers £1 Is 6d. Huddart- Parker (ord.)—Buyers £1 19s, sellers £1 19s 6d. Westport Coal Co.—Buyers £1 lis 6d, sellers £1 12s. Westport-Stockton (ord.l —Sellers Bs. D.I.C. (ord.) —Buyers Is prem. D.I.C. (pref.)—Buyers £1 Is. Dalgety and Co. —Buyers £lO 4s, sellers £lO .10s.'. Dominion Rubber —Sellers £1 Bs. Donaghy's Rone and Twine —Sellers £1 8s 6d. Gear Meat Co. (ord.)— Buyers £25 10s. N.Z. Refrigerating Co. (£2 paid)—Sellers £2 17s 9d. . Kaiapoi Woollen (ord.) —Buyers £7 9s. • Milburn Lime and Cement —Siellers £1 15s. Mosgiel Woollen Factory—Buyers £5 2s. National Mortgage —Buyers £4 12s 6d. N.Z. Drug Co. (£2, paid)—Buvers £2 13s 3d. N.Z. Paper Mills—Buyers £1 3s 9d, sellers £1 4s- 3d. Otago Dailv Times—Buyers £2 15s. Perpetual Trustees —Buyers £1 7s 6d. Whitcombe and Tombs —Buyers £6 2s. Debentures. N.Z. Government Loan (bonds) —Sellers £97 ss. AMFJUCAi* TRADE lIEVIJW. Messrs John Dunn, Son, and Co., of New York, write as follows, under date February 8: —Business in many lines continues active, as evidenced by bank clearings, which are in excess of last year, but in general buying is for immediate needs only, and, until prices reach a more stable level this condition will continue. Taxation. Congress has about completed the draft of the revenue measure taxing business profits and individual incomes for the year .1918, and it is believed that this measure will be duly signed and become law during the next few days. This Bill is expected to produce a revenuo of about six billion dollars, andl it bears very heavily on business and personal incomes. Incomes of less than 1000 and 2000 dollars respectively for singlo and married individuals, with a further allowance of 200 dollars for each dependent minor, are exempted from taxation. Above the exemption up to 4000 dollars the rate is 6 per cent; from 4000 to 5000 dollars—--12 per cent; above 5000 dollars the rate gradually increases to 77 per cent, on that portion in excess of 1,000,000 dollars. The corporation taxes are much more complicated and very difficult of brief statement. They vary from 12 per cent, to 80 per cent, according to the amount of profit and the character of the business from which the profit is

derived, profits from war work being taxed much more heavily than from ordinary business activities. The Bill provides for an inheritance tax on estates of over 50,000 collars, the rate varying from 1 per cent, to 25 per cent, according to the size of the estate. There is also a tax on the products of child labour which is intended to be prohibitive, and various taxes on. transportation and communication and 80-called luxuries.