COMMERCIAL.

Gisborne Times, Volume XXXIII, Issue 3683, 19 November 1912, Page 2

COMMERCIAL.

HIGH COMMISSIONER'S CAILM

[PRESS ASSOCIATION TELEGRAM] WELLINGTON. Nov. IS. The High Commissioner’s cable, dated London November 10, states: “The mutton market is steady, and prices are well maintained. There is a good demand for all descriptions of New Zealand. Canterbury 4gd, North Island 4kl. The lamb market is firm. There is a better tone in the market this week. Canterbury ygd, other than Canterbury o|d. 'The beef market is quiet, with a tendency in favor of buyers. Buyers are holding back, expecting prices to go lower. The Turakma shipment of butter arrived in good condition, and is realising 116 sto 120 s ; Australian 113 s, Argentine 113 s, Danish 128 s, Siberian 109 s. The cheese market is quiet, but steady, 'file Turakina’s shipment of cheese arrived in good condition, realising 61s to 635. The hemp market is quiet. Buyers are cautious on account of the high priecs. On spot New Zealand, good to fair grade £34, fair £32 10s, fair current Manila £36, forward shipment New Zealand good to fail - £24 os, fair £33. fair current Manila £36, forward shipment New Zealand good to fair £24 6s, fair £33, fair current Mani la £36. The output from Manila for the week was 20,000 hales. For cocksfoot grass-seed there is better demand. Quotations are nominal. The wheat market is dull, and very little business is doing. Quotations are nominal. The wheat market is dull, and very little business is doing. New Zealand Jong-berried, ox granary, per quarter of 4961b5, 395; short-berried, 38s 6d. Tho oats market is quiet, hut moderate business is doing. New Zealand short sparrowbills, ex granary, per quarter of 3841b5, 265. Current quotations for Bradford' tops are: 36’s (low crossbreds) Is 2kl. 40’s (low crossbreds) Is 3d. 44’s (medium crossbreds) Is 4d, 60’k (half-breds) Is 7]cl. 66’s (quarter-breds) Is lOd, 60’s (merinos) 2s 3d.

NATIONAL INSURANCE COMPANY

[PRESS ASSOCUTTOX TELEGRAM] DUNEDIN. Nov. 18

The annual meeting of the National Insurance Company of Now Zealand was held this afternoon, Mr. T. W. Kompthornc (acting chairman of directors) presiding. In moving the adoption of the annual report and balance-sheet, tho chairman expressed satisfaction with the result of the year’s work. The premium income had increased by £6170, while the losses showed a decrease of £4574, giving a. ratio of 44.65 per cent. The rate of interest earned on investments was £4 12s 6d, as against £4 13s 2d last year. Referring to tho proposed superannuation fund for the staff, the spealced said the directors recommended a contribution of £SOOO by the company. Continuing, the chairman said all present members of tho staff under 5-> may become contributors to the fund on its establishment, and all persons joining tho staff hereafter under the age of 35 years shall become contributors. Their respective contributions will he a, percentage of the salary received and According to the age oi the member, to be deducted as the salaries become payable. Tho company shall, from time to time, contri-

buto a like amount so that the contributions of the company shall bo oqual to the aggregate of the contributions of members, making together the sum of close on £IOOO per annum. The directors propose and express the Ijope that shareholders will agree to pay the whole of the first year’s contribution from flic funds of the company. Thereafter the staff and the company will contribute hall each.

The motion was carried. The retiring directors (.Messrs. A. Burt and J. Molloney) were re-elected.