COMMERCIAL.

Dominion, Volume 2, Issue 463, 23 March 1909, Page 8

COMMERCIAL.

JTHE SHARE MARKET.; - Sales of VBank'of 'Now Zealand at'.Sß 95., Wellington Gas, .£lo'paid, at £17, and ■AVestportStockton Coal at Bs. ,9d. were reported. This is a very-fair amount of business for a Monday, and seems to indicato a revivals, Probably Vvitli tho turn of the quarter there will bo a, greater disposition to invest in snares. National Bank shares, sellers .£5 is. 6d.; Ban,k of New Zealand, buyers .£8 Bs., sellers .£8 lis;; Equitable ■ ■ Building, buyers Wellington. Trust and' Loan, sellers £7 2s. 6d.; National Mortgage,-buyers £2 125.; New Zealand and River Plate, sellers ,E1 1.35. Gd.; Napier Gas, £2 paid, buyers r£7; "Wellington Gas, ilO paid, buyers .£l7; New Issue, buyers 16s. Gd., sellers premium j New Zealand tl Jn§jirancei. buyers. i£3 145.; Soutli British, sellers'- -iE2 llsr; 'Gear. Meat,. £1 paid, buyers .£2 10s.; Meat Export, £2 12s. 6d. paid, sellers c£3 Is. 6d.; New Zealand Shipping, sellers J £7' :Is.; -Union Steam, •sellers .£l. 15s. Gd.; Wellington' Woollen, ordinary, buyers <£2 19s. > Westport Goal, buyers X 6 2s. Gd., sellers <£G 45.; AVestport-Stockton Coal, buvers Bs. 9d., sellers 9s. 3d.; LeylandO'Brien timber, sellers Jcl 2s. 6d.; New Zealand Portland Cement, sellers ill 15s. . :THE MINING MARKET?.'...,; „ ' '->No->salei - were-:reported yesterday*' and"the market was dull.' Jlie quotations were as .under:-v - , ; ; Buyers _ ■ s'elidfs. V ■ "'.i : ' '£ "s. d. .S s. d. Talisman 1 ...' ••• ... ••• 2 8 3 2 5 9 •WniW ... ... - 9 0 6 9 1 6 Tairua Broken Hills '... 0 1 1 0 1 3 Consolidated . Goldfield ... 0 Ift 0 . "T . Big River; . ... 1« ® 2 J_° Blackwater Mines ... . — 1 ' u : 1 London siiies. 'i - At the <■ sales, whi6h'<;teimmate; ■ on Thursday," merino wools! appear to have received- considerable attention. . Tie London commercial'cable published yesterday-.stated that the Bradford top market: waS excited,'and to-day it will be seen that Yorkshire buyers are bidding with animation, for merino wools. The fashions are probably " to v.'Tun -on ; finc wools, but-any advance in merino must be reflected m' v crossbreds. -The coarse wools have improved ■ their position, but are still sheaf enough. .? If.rmeriuo .wool. goes .up, .crossbrol must, follow, as it did somo years ago, wher merino was the fashion.; , 1 _ * TALLOW." - ■ " ; ■ . The fact that tallo.v is placed ion the free lis of the American tariff is a matter of specia interest to Australia, that is providing Angelica is an itnp.wter ofthis; product to; any, .ex tent. Australia and New ' Zealand togethe supply about half the'tallow-imported-. int the United Kingdom, as -the following wil , BhoW:_ ; 1906. , 1907. 1908. From — ; ' Cwt.\ - / Cwt. .- Cw.t 'Australia .;. ... 690,891 827,714 ;>42,27 New Zealand ... 361,643 412,956 •. 3(7,00 Argentina ■ 227;-132 - 321,179 -1-1-1,03 United States ~ .459,707, ,- 483,618 426,23 Franco .... ... 49,350 . 4(,290 , 36,50 . Other countries ... : 141,613 207,412 230,16 ■ Total ... ... 1,933,836 2,100,169 2,056,71 It will be seen that last year the United State sent 426,232cwt. of tallow to th,o United lunj dom, which makes it obvious that the remn sion/of the tallow duty'does. not 1 amount" t much. It - is probably a concession to th Chicago Beef Trust, >vhich has now large ii terests in the Argentine. , , •J,. ; ;BREWERY SHARES. '■ Shareholders in British brewery coimpanii , arc beginning to. realiso that restrictive legi 1 iation is not the primary cause, for the despe •ste financial fosition in which many larj soncerns are now-placed.. Enormous-over-cap ialisation, due to the brewery boom some, fi teen-years or so ago,.when every free, licensf house was bought up at fancy prices/ is in tl main responsible for the losses incurri oy investors in these undertakings. The mo recent example is the .case of Ind, Coope at . V. Co.,- originally established as far back as 177 but not transferred to a limited company uril 18&6. The capital' . consists of ,£3,698,000, y which 250,000 is" in debentures of various cl nominations, .£1,000,000 in preference, at .£448,000 in ordinary shares. In 1595 a portii of the first debenture: stock, bearing 41 p cent.-interest, was placed, at 1203, and to-ili it is quoted nominally at 64, and the" sub: quent issues have suffered to even a great .extent. The concern is now in tho hands of receiver,'and a reorganisation ol'whatisi.stat . to be a fine business iwill doubtless; extiugui a large portion of' iho capital. >' Another lar brewery in"' London is reconstructing by, j ducing capital to tho extent of ,£900,000 in' ord to provide' for escertainad losses, and sund balance-sheets just published reveal that sin lar steps willhavo to be taken by other 1 brewing firms. ■ ■ Numerous instances could given of the melancholy effects of high in the brewing trade, and yet there is nothinp ■'. inherently Wrong with' the business if conducted on sound lines. There are plenty of smal country, breweries that are progressing steadilj and paying, dividends of from 10 to'.lS percent per annum. ... ' ~-y-'-; The Customs revenue collected at-Wellingtor ,r yesterday amounted to 2s;--6d. • '. • WELLINGTON' MARKET REPORT."' • Laery and Co., Ltd., Wellington, report whole •sale prices, ruling on /the markets-Wheat fowl 4s. 7d. to 45.. 10d.';.oats, ,2s. 1d t ..t0.25. ,6d, ■, dun oats 2s/Td."to"2s.' 3d.', seed oats 2s. 9a. t 2s. 10d., imported Algerian seed oats 2s. 6d. maize, ss. to ss. 3d.; crushed malt, Bs. 9d.; fow barley, 3s.horse beans 4s. Bd., all at pe . bushel; ricemeal, £5 to ,£5 55.; flour, N.Z. il ! 10s., Australian .611155.; bran, .£4lss. to £5; pear , barley, peas, partridge 4s' 9d., prnssia i blue 65., fowl peas ,4s. 3d., split £18 10s.; bom I ■ dust, i£6; superphosphates, £!> to £5 55.; guaw . £i 10s.; chaff (oatensheaf), X 3 10s. to £A; oal meal, ,£lO 10s. to ,£lO 155.; new potatoes, £3 t • .£-4 10s.; onions, i£s to <£6; molasses foddei £5 10s.; bacon, factory,- sides 7sd., hams 7?rd . rolls Bd.; prime bulk ,butter, BJil. • , Poultrj Hens 35., ducks '4s"; to ss/; turkeys, gobblers 11: to 125., hens 95.~ to 10s.; fresli eggs,' Is. sd. I Is. 6d. per dozen; chcese, 6d. to lb loaf, 7d. per lb. ; Akarba machine-dressed cock foot Bd. to BJd., farmers' dressed 6d. to 7d. per lb; ryegrass, 3sl 3d. to 4s. 6d. per bushel; Italia ryegrass, 3s.'6d. ,to,4s. bushel; white clover, 70 "'to 755. cwt.'; red clover, 655. cwt.; cow gras 655.' cwt.; alsike,' 82s. . Gd. cwt.;, mustard, 40 cwt.; trefoil, 375. 6d. cwt.; rape seed, 265. cwt timothy, 325. 6d. cwt.; swede and turnip see 60s. cwt.; danthonia, Is. 4d. lb. Messrs. Griffiths and Co., Ltd., report pric ruling at their fruit-'iind' produce sales yeste days as follow;— Potatoes, choico.ss.-,t0.55. 6 cwt., prime 4s. to.'ss. cwt.;'onions, local grow 65.; cabbages, choice 2s. to 2s. 6d. sack, prin Is. to Is. 9d. sack; 3s. 6d. to <1 6d. sack; peas, ss. part sack; beans, choice, ' to 2s. 9d. part sacks; tomatoes, choice Hu 2s. to 2s. 3d., prime Hutt Is. 2d. to Is. ,6(1 lettuce, Is. to Is. Gd. banana cases; plums,'! to 4s. small cases; peaches, choico eating 4s. - 4s. 6d., prime 2s. 6d. to 35., cooking. Is. 6d. ' 2s. 3d,; apples, choicp .eating, 6s. 6d. to 7a..6i prime ss. to 65.; : choice green cookers 4s. 6 to ss. 6d., tiriine greon x.ookers ..3s/ 9d..-to;< 9d.; pears, cLoico eating 75..6 d. to Bs. Gd., p.rii ' eating 6s. to 75.,' cooking's's. "to Gs.; eggs,'free 'Is. 7(1. per dozen; fowls, 35., 3s. 6(1. pair; duel 4s. to ss. pair; carrots, 2s. to 3s. sack; be: -root, 3s. G(T. to 4s. sack; parsnips, 2s. 6d. to 6d. sack; celerv, 6d.'to 9(1. dozen., -Potatoes s in short supply,' and, for best lines; a. stea market is being maintained. All other ve: tables and fruits aro in, abundance,, and t market is indifferent. PROPERTY SALE'AT TAIHAPE. '■ At a sale-of Taihape suburban sections the Erndale Estate, offered by Allen T. A'ick« auctioneer, there was a large attendance, a bidding was fair. In all, twenty sections w sold under tjio..hammer,.realising.from .£46 JCISS per section. DREDGING. [DI TEIZOEiPH—I'EKSS ASSOCIiTION.) Dunedin, March 2! The total return from, 28 Otago dredges 1 , .week was 891oz. STOCK EXCHANGE.' (BT HIMEiPH—PEESS ASSOCIATION.) Dunedin, March 2; Dunedin Stock Exchange sales Hartley i Riley, 285.; Sailor's Bend, 12s. 3d. MINING SHARES. (bi TiLßOßApn—ri2Ess AssociATioN-corniioi London, March 2 Buyers. Seller .£ s. d. £ s. • Waihi ..., ••• — 8 15 0 8 17 Grand Junction ... 1 3 J lb LONDON WOOL SALES. MERINOS IN DEMAND.. (by tei/eoeaph—pbiss association copykic London, March ! At the wool sales the™ was remarkable mation amongst Yorkshire buyers for | merinos. Prices have a hardening tende . Crossbreds aro vers firm at the highest of

late rates. To date 139,463 bales "were offered and 134,!)60'501d, including Tawapaita 7gd., Opu BJd., Awliea B|d., Titi IUJd., M.D. 11 jd. THE FROZEN .MEAT MARKET. (BY TELEGRAPH' —riIESS ASSOCIATION —COPI'UIGHT.) . -■< London, March 21. Tho .Frozen Moat Trade Association's Smithfield Market quotations for the undermentioned. classes of frozen meat are based on actual sales- ofinot-less than one hundred carcasses of mutton or lamb, or twenty-five carcasses of beef of fair averago .quality. These quotations are not for selected' lines, but for parcels fairly, representative of tho bulk of tlio shipments now on the market:— Mar. 1-1. Mar. 21. Mutton— _ d. d. Canterbury, light 3| 3| Canterbury, medium 3 7-16 3 7-16 Canterbury,.heavy ... ... 3 1-16 3 Bunedin and Southland ... 3J- — t North Island, best brands 3j 3 1 North Island 3 2 13-16 i Australian, light? •> 2}. 2| ' Australian, heavy .2} 2J J River Plate, light ... ... 2} 2} j River Plate, heavyr. ... . ... 25 ■ 2| ( Lamb — 3 Canterbury, light ... ... 5J 4 15-16 ' Canterbury, medium 5 4J , Canterbury, heavy 4i . 41 ; Dnnedin and Southland ....'■. — ... North. 'Island - ... . ... 4 9-16 4 7-16 Australian, best 35 . 3J . Australian, fair _ ... ... 3| . 3jj , ! ■ inferior ... ... 3$ 3j It'iver Plato 3| •• 3| Beef— ..... > • ' „i ' ' ( - :> T e,\v; Zinland .f.ores ... ... 25 2J ' T 'New Zealand binds ... ... 3} 3. Australian fores ... ... 2} 23 Australian hinds ... ... 3 3 Jliver Plat© fores 2 7-16 2| River Plato hinds 3]; . 3J .: i': 1 COLONIAL AND OTHER PRODUCE. [dl TILEGKArK—Ptt'KSS ASSOCIATION— COl'TltiaHT.) : - London, March 21. Wheat.—An Australian cargo sold at 395. 9d., , 14,000 quarters of February-March shipment « .at 405., and a cargo and 8000 quarters of MarchApril shipment at 40s. 3d. ; Linseed oil, .£23. Rabbits.—The arrival of three cargoes cased the 'market'. Large New South Wales sorts are retailing at 18s. 6d. to 195.; Victorian, 17si , to ISs. New Zealand Hemp.—Slow of sale. An April- ' Tune'shipment has "been placed at ,£22 15s. per ton c.i.f. and e. * • . . Copra.—The market is steadier. South Sea (in bags) afloat, £11 17s. Gd. ■ . l " THE METAL MARKETS. 1 (by telegraph—press association—copy right.) • ', London, March 21. '■ ; '-'Copper.—On' Spot' .£55 6s. 3d., three months r <£56 2s. o'd.; electrolytic, : .£56 12s. 6d. ?' spot, -£12!); three months, -£130 10s. 1 Lead, £13 3s. 9d. Silver, 23 5-16 d. . -Antimony, X 7 10s.. 7 HIGH COMMISSIONER'S CABLE. " ( The Department 1 of Industries and Commerce 2 has received the following cable from the High 1 Commissioner, dated London, March 20:— 2 The;mutton market is over-stocked and de- " pressed. There is little chance of any advance 7 for some time', and stock is accumulating. Cur- □ rent quotations are: —Canterbury mutton, 3-] d.; i North Island, 2Jd.; River Plate, 2Jd. per lb. L The lamb market is weak, arid there is a o dull'' sale for' all brands. . Canterbury lamb is 0 quoted at fid., and other than Canterbury at [. 4|d. per lb. .The beef market is quiet. Hindquarters are quoted at 3|d., and forequarters-at 2M. per lb. The butter market is quiet but steady, cur-rent-quotations beina as follow:—Choicest Now >3 Zealand, 1065.; .Australian, 1025.; Danish, 1155.; , Argentine, 105s. per 'cwt. " The cheese market is firm, with a hardening tendency. There are signs .of, improve- ; ment in the -price, of' cheese, white '.makes boing c" quoted at 605., and coloured at 645.. per cwt. The hemp market is dull, and no immediate change is -expected. Largo shipments are arriv',l ing from Manila... Last, week's output £ 32,000 bales. Current quotations are:—Spot, ~1 good fair grade, £23; fair grade, £21; fair q current Manila, .C 23. April-June shipment, good fair erade. JC22 10s.; fair grade, £21; fair cur0f rent Manila, £21.105. V, 'The cocksfoot seed-market is firm, and buyers ./[ have been offering more freely. Bright, clean, m 171b. seed is quoted at SOs. The kauri gum market is quiet but steady. The following' are the current quotations:— /• Ordinarv to fair three-quarter scraped.■1655. ; „ fair half-scraped, 1055.: brown fair half to " three-quarter scraped; 905.; brown piftanpi, ,5 .common to good, 555.; bush, fair to good, palo a, land ; amber-scraped; ' 1605.; • . / -"The hop market-is-Very quiet, with nothing e '- wool market is firm, with a good demand for all "descriptions,' and a halfpenny advance ji. during this week. .'