COMMERCIAL.

Press, Volume LV, Issue 16420, 14 January 1919, Page 8

COMMERCIAL.

(By Cable.—Press Association. —Copyright.) (Australian and N. 4. Cable P. AND 0. SHAP.ES. LONDON, January 10. P. and 0. shares (def.) are quoted at £42'9. .SALE OP PETROLEUM PC£NT. — (PRESS ASSOCIATION TELEGRAM.) AUCKLAND, January 13. Acting under instructions from Mr H. B. Tewaley, an auction sale of the bottjj buiidand plant in connexion with, the Taranaki oil industry was conducted this afternoon. There was a fair attendance, and the jroperty and plant were eventually sold for £2800. The bore is near the Huiroa station, on the Stratford-Ohura lino, and tho prospects when it was stopped by reason of a breakage, were considered favourable. TOBACCO. AND • CIGARETTES. NEW ZEALAND PRICES. . The restrictions which the Imperial Government placed upon the importation of all tobacco leaf into' Groat Britain are to bo removed shortly. "The embargo was placed on the raw material on th© ground that the manufacture of tobacco was a nph-eosential industry. At the time it was estimated that there were two years' supply. of loaf iu the warehouses in- Great Britain, but the demand for cigarettes and' tobacco in France and the Allied countries was so great that the British stocks of tobacco decreased to o. minimum. This fact, added, to the additional cost of labour and material used in the manufacture, casing and shipping of tobacco, was the main cause of the sharp advances in the retail prices which have taken place during the last two years. The increase in steamer freight rates and war risk insurances also added to the coat of the product. Discussing the prospect of a decrease in the retail prices of tobaccos and cigarettes, a leading Auckland merchant expressed the opinion last week that until tho present year's crop of tobacco is harvested there will be little or no chancre in the prices of the well-known brands. Tho reductions in freight rates insurances already anilounoed were infinitesimal on individual purchases, and would make practically. no difference iu the retail prices. He stated that one great factor in the price of cigarettes and cigars was the colossal increases imposed by the New Zealand Government in Customs duties. It was not generally known that the Government collected over id on every packet of ten. cigarettes. * n JAPANESE GOODS IN AUSTRALIA. * (kboh our own correspondent .) SYDNEY, December 30. It is, of course, common knowledge that Japan in tho past four years has made colossal efforts to capture the trade of Australia and New Zealand formerly held by tho nations recently locked in war. Tha-t Japan to a verv considerable extent succeedcd in entering these markets is proved by the figures ana is apparent to anyone who goes | through tho cheaper classes of shops in the . bigger cities.' , , The opinion is held almost unanimously by Sydney business *mcn, however, that this Japanese invasion need- not be viewed with alarm. Japan, in the lwt fifty years, has learned a great deal and learned it marvellously well, but she has not yet acquired complete commercial efficiency. In other words, practically all importers who have anything to do with Japanese goods express dissatisfaction with something or other. There is always something unsatisfactory about the fulfilment of the order and thero is little doubt that British and American manufacturers will easily get lwick all their old trade. Japufi will fight to hold ner new connexions, however, and keen battles in prices may be expected. The annual meeting tho other day of the Australian Association of British manufacturers stated that the Japaneso cotton manufacturers were now in a very strong position, and tlieir pressure was increasing daily. In the past twelve months, Japan had b«*n able to put her cotton gocrts on the Australian markets at from 20 to 30 per cent, cheaper than they could bo obtained from Newcastle. It was i«olv<d to go to the Federal Government and peek tariff protection in regard to this and other matters. In view of the tenancy of Britwh wag'* to increase. »nd the labour in Japan, it is obvious that tariff sdinstments are the only way to petting rich at the expense of tho Mother Country. CUST STOCK SALE. There was a full attendance of freezing buyers at the Cust sale yesterday, was a remarkably good one. About 1000 fat sheep and lambs were yardea and sold, rat lambs nad» 55s 6d to 29s lid, extra prune ewes 3?s prime 2&» to 295, lighter weights 22s to 259! wethers 22a to 23e. CHRISTCHURCH STOCK EXCHANGE. LATEST QUOTATIONS. Buyers. Se'lers. £ ». d. £s. d. BANKS— New Zealand (fully fd.) 17 17 6 — New Zealand (£3 Cs 8d paid) •• .. 13 2 6 ■Union (cum. div.) .. 53 10 0 — FROZEN MEAT— Canterbury (6 per cent., _ cum. pref.) •• o 0 0 — COAL- 11 if, _ V.-est port •• .. 111 0 — BREWERIESManing .. •• » ° 0 - Ward 4 15 0 — MISCELLANEOUSiiuma, Ph:lp •• 1 J' 5 Henry Jones •• 1 11 o MINING— , Talisman •« "• 5? 5 "~ I Weill i »«■ 2 i 6