COMMERCIAL.

Dominion, Volume 2, Issue 536, 17 June 1909, Page 10

COMMERCIAL.

THE SHARE MARKET. : A fair .business was done yesterday in investment shares, and sales of Bank of New Zealand at £9 2s. 6d., New Zealand Paper Mills at JU 2s. 3d., Wellington Opera Honso at JC7 17s. 6d., and Wairarapa Farmors' Co-op. at JIG 10s. were reported. Tlioro wore very! fow quotations. National Banlcs, buyers ts., Boilers -£5 75.;. New Zealand and River Plate, buyers -£1 135.; Wellington Gas (,£lO paid), buyer 3 .£lB 6d;, sellers' JCIB 10s., (new issue), buyers .£l-10s. premium; Standard Insurance, sellers ,£1 35.; Christchurch Meat, buyers .GlO 10s.; Gear Meat (£i paid), buyers .£lO 3s, (.El paid), buyers £2 Us. 9d.; Kauri Timber, sellors 155.; Leyland-O'Brien Timber,. sellers Si 2s. 6d.; New Zealand Portland .Cement, sellers ,£2 Is. Od.; Taranaki Petroleum, sellers 7s. ; Whitcombe and Tombs, buyers ,£1 2s. 6d.

THE MINING-MARKET. : Yesterday showed fair business. .There were po sale 9 on 'Change in the. morning,' but. in the afternoon there was a sale of Talisman at <£2.135.-3d. .The sales reported were: "YVaihi Grand Junotion, buyers £2 ss. 9d., .£2 6s„ £2 65.; Waihi,' ,£9 35.; Waihi Consolidated, • 4s,' Bd., '4s. 9d.,.45. 3d., 4s. 2d., 4s. Id.; Tairua Broken Hills, 2s. Id.; New Alpine (9s. 3d. paid), Bs. 6a.; Talisman, £2 13s. Gd. The Talisman Consolidated manager has ' been „ advised by cable that the annual general meeting has been held, and that the directors'.report, accounts, and one shilling bonus wero approved. Mr. Macalister has been elected a director. Yesterdays. Quotations, with last recorded Bales, were as under:—

. THE IMPORT MARKETST ? ere m s of'iniportanco' to 'report this week.; Trade remains quiet, and is quieter in the city than in the country districts. Orders merchants are as numerous as last year,, but they are for ". smaller- ; quantities, giving evidence: of the;strictly/hand-to-mbiitlr business that is now doing. ' r : Arrowroot; continues very scarce, and the quotation is nominally sJd.,;per 1 lb. - : Candles are selling freely,; as may;be expectcd! at this time of tho year. ~i. Thfcre'''"art ""full supplies of lmpprted and locally-made candles. The - New Zealand Candle Company s quotations, issued December 19 are—■■ Premier s stoarine and five medal,'s}d.; British sperm, French sperm, Universal wax. Excelnor paraffin©, 6d.Apollo sperm paraffin©, ' 6Jd. r Venus' coloured fluted, 6fd. j piano, bedroom,' and carriage sorts,--packed -in cardboard boxes, 7Jd.; less, the usual-trado discounts. Prices London sperm, l6oz. 62d.'r 140z.,6Jd.; Burma; 160z., ; .6[d.- r • • _ .passing. B. and P;, s|d. to SJd.j Johnson's,'2Jd.; Brown's, 3d.: Chicago, 2Jd. • -

-.Dried Fruits.—Currants, finest provincials, 2Jd. to 3d., cleaned Amalias 3d., lib. cartons 8s: 6d. per dozen'; sultanas, choice 4<L, golden 4sd. to sjd. v per lb., lib. cartons 4s. 6d. per dozen. Dates, A bulk, -sid. ; pcr.' lb.; cartons, 35'..6d. per dozen. Pics,.]2oz. glo?* boxes. Bs. 3d. per dozen. Figs, lib: layers, 4|d.; slb. naturals, sd.'per lb: Seeded raisins aro slightly lower, fancy lib. packets 45.,- choico 3s. Cd. per dozen. Muscatels, Californian, s!s boxes :,6d:,: 10's 5-ld., 20's 4Jd. per lb.; Malaga, 51's at lOd., per lb. .. • • •* ' • ■•*/- ; " Canned, fruits mot with, a' demand, and the quotations are unchanged ai> 8s; 6d. to 12s. Cd. - American quotations for earmed fruits for forward delivery are out,and i ar&6n •a lower basis than last vear. . Fruits.—The quotations are unchanged,*, apples,, apricots, and peaches makingfrom 7sd. to. Bd. per lb. ■ -' " • , Cocoa—A steady,> hand-to-mouth -business ia * doing. Van Houten's, l's, 3s. 2d.; Vs. 3s. 3d.; }'s, 3s. 4d. per lb.; Bensdorp's, l's, 2s. Jod., i's • 25.. lid.; i'sj 35.; Fry's, .l's, Is. iid.; . Bahia 2s. lOd.

Condensed Milk.—Highlander, 55.; .Cowslip, 4s. Cd. ; Swiss-Milkmaid, 6s: 6d. to 6s:*'XJd:; per dozen. ' ' • •'" Canned Meats)— Sheep tongues, 10s. 6d. to lis. .for l's; : os tongues, 31s. to, 343;; 3's, 345. to -365. per.dozen; Gear's assorted^.potted,'4s.'6d.; St. George's, ss. . Canned. , Fish.—Herrings in . tomato sauce, Js, 7s. to 7s. 6d.; i'a 4s. 6d. to Ss.j;kippered herrings, • : l's: • 7s. ' 6d." to 7s. 9d.-; i's, 4s. 6d.; to 55.;. fresh .herrings, l's, 6s. to 6s. 6d.; lobster, C. and 8., |lb. tins, 14a. 6d. to 155.;, aalmon, .salad, medium reds, lib. tails, 85.,.6 d. 5 to 95.; lib/ flats,-9sJ to 9s. 6d.: silvor, flats, Ss.'j Golden Link, Sockaye, lib. talis, -105,.6 d.; lib.^flats,',;lls.Southern.'Cross,' 51b., Gs. 6d. The. choice.grades 'ofJ salmon are . practically' nnproourable from America at the presenttime. oil, Senator'brand, Bs. to Bs. 6d.;'in tomato sauce, Bs. to 89. Cd,; ■sardines, Skipper, ilb. tins, 53. ',to'ss; Cd.j. J's, 9s. 9d. to 10s.; "King Edward," J's, 4s. 9d. to 55.; i's, Bs. Gd.; ling, Smethurst brand, i 3 .making 555. t0,565. per cwt. ~ . " Champagne.—Messrs. J. R. Parkih'gton' ; and . Co. state that the total quantity of champagne dispatches, from the champagne districts for 12 months ending March 31 last was-32,705,333 bottles, as compared With. .33,734,618 bottles in 1907-8, 'and,' 33,171,395 bottles "in" 1906-7. ..Stocks m casks and bottles amounted to 1,401,009 hectolitres, or about .175,126,000 bottles, being,' as usual,l'.the .equivalent of between five and 1 en years' consumption;.': ' •r. Chemicalsir-Cream- of:tartar,'9s per cent, old. to 10d„ 99 per cent. 9id. to lOd.; tartaric acid, :la. 3d. per lb.; soda crystals, .£5 10s.; bicarbonate of soda, i£lo 10s.; calcium carbide' .£ls to l)lucstone, 10s.; whifiiij, XI 15s. Jute Goods—Messrs. John Miller and Co., in their market report, dated Calcutta, May 18, stated that mills had::becoino':'particnlarly :reseryed in their,-.views -.with, regard..to 1 girariies, ;: and prices shov/ed a;.sharp.'Advance 'Owing to the .smart covering. demand'.from buyers in Calcutta. . Local "influences', also -entered 'tho market, with the result :'th'at,mills iised 'every in-, fluence 'to stiffen J the .situation. Buying 'orders, however, .continued'scarce; anal limits-appeared too low to permit of .business ;.':and,..while there, was a decided; undercurrent, of firmnbs,. this' ■was oaly expcctwl to be" of .sho'rt;rdritation, ;as the prospects of : .the jute ojop were decidejly assuring. . Hessians ruled cmparatively qYiieter, buyers in the . United States showing apathy/ in the matter of ~ forward operations,? their deals being confined parcels. • 'i.\V .Infants' Foods—Neavo's,;'9s.'9d.;,:'Allan; and Hanbury's Nos... l' and ,2, 175.; No.!- 3, 40gl'- 6d.; Benger's, 17s.'; Eobinso'n's patent groats and barley, 7s. 6d :

\Maizena —Duryea's, sjd. Knife Polish—Nixey's.-'is. Gd. ; Okey's, ss. 3d. ' Mustard.—Fair sales. -Gtilmap's, D.S.fc j'i. Is. 5Jd. to Is.-fid.;' J's.'ls. -3id.-to Is. Dm'-'' ham, 71b. tins, '7d.. to. 7Adr : , Matches.—Plaids, 3s. :B<l.\ to' 3a. 9d.., across;' penny slides, Bs. 9d, to 9s. 6d.j safeties, small, foreign, 3s. to 3s. 3d.; Bryant and May's, small, 4s. 6d.; large, 7s.' Gd. , - Nutmegs, 3d. to Is; per lb. ' , - .' Peel—Lemon peel continues scarce, but "sup-' plies are expected to- reach this . port-next month- Lemon peel,'.7's, sid.; ; orango, 'sid.il oitron,. lO.Jd:.per lb. Pickles.—Morton's hexagon' 10s. Gd!, 'round 12s. 6d.- per dozen; Captain White's,'23s. Cd.; Garton's H.P., J-pints, 12s. Gd.; pints, 225. Gd.; pure pickles, 9s. Gd. to 10a. Olivo Oil.—ln a. report on 'jtho agricultural conditions of South Italy thei British Consul--General at Naples recently stated that the'oil crop, on .which-so much depended, was an absolute failure, and it might be said that the only abundant yield had been.in the case, of the vino. The.olive crop,--although it promised 'very • well, v;as a failure: The. quality"was 'first ratc, but the quantity small. The total production of ■ the province of Lecoe was not more than from' 20,000 to-30,000 (quintals :(2000' fo .3000 tuns), while, in an average year,. tho production was at least double. Owing to itsgood quality, at-.lcast two-thirds was made into table oil. Tho £ame applied to the Naples'district, viz., that there was less than half a crop, but the quality was excellent: The exportation of oil., from ; ivas tho worst for tho last five years, perhaps for-many years. The present crop, of 190S-9. owing to the drought, is, says the British Consul-Gen-eral, an absolute failure.

Jiico.—No. 1, 15s. Gd.; No. 2. I ks. Gd. cvtt. Salt.—Pine, 71b. . bags, ss.- Gd.' to Gs. Gd;«per cwt.j-bngs, 3s. 6d, to 45.; coarse, in cwt, b'ags, Bs.-to 3s. Gd. per cwt. Sauces.—l,, and .{-pints,-lis. to"l4s!' Gd.'j pints', 255. to 255. fid.; Tlolbrook's, {-pints, 7s. Gd.; pints, 10s. Gd. to ■ 10s. 'od.; • Qarton's,- inints, 7s. Gd.; pints, 10s! to ~los., 6d,;,„Eaglo brand (N.Z.). J-pints, 2s. 9d. to"3s.Vpints, !is. :6d. -to GS. ' Starch.—Colman's, lib... boxes,'/. S}d.-.- to.. OJd.; Bib. packets, sd. to sjd.KNew •Zealand, lib." boxes, 38s. to 395. per cwt.; Sib. packets,, 375., to 33g. per cwt. Stove Polish.—Nixoy's, . 2s, 6d,'j! Reckitt'B,'.3s, .per dozen.. r ". 1 ' . market |is steady,' with' a "good demnnd., IA. nnd' No. 'l, 56's, 'JOB 155.; No. 2,/ ,£IG ss.;;No. 3,'>Cls;ss. per ton. / ■ .- , .Scotch have'elapfied'since the collapse ''of the' boom. In '.tne'Bccrtea jrhisky

trade, and still it is burdened with considerable stocks. Tho production, which touched the bigh-wnter mark of 35,709,000 proof gallons in 1898-9, was rcduced year by year until in 1904-5 it amounted to 110 move than 25,185,000 gallons, and in 1908-9 to 22,790,000 gallons. Consumption, however, has also decreased in the United Kingdom, though tho export has increased, aha stocks of Scotch wliisky, which renohed high-water mark (121,778,000 proof gallons) in 1904-5, aro still as large as 115,619,000 gallons—equal to four and a half years' consumption. "The Times" reckons that a stock of 96,000,000 --would be ample, nnd adds:—"A further curtailment of tho consumption is feared as the' result of tho advance of tho duty by 3s. 9d. to lis. 9d. per gallon. The extent of such curtailment is variously estiplated, ranging up to as much as 25 per cent., put in any case can hardly fail to bo serious in view of the tendency of the demand to fall away ; Unfortunately, there may also be a disposition in sonie quarters to secure compensation for a reduced turnover by increasing the rate of profit at tho expense of quality. This might be effected by tho larger use of cheaper whiskies, particularly grain* so that it will not be surprsiing if the higher duty should result ,in a smaller consumption of malt whisky,* and an increased demand for grain -whisky. The higher duty will also necessitate the . employment of considreably increased capital by wholesale distributors and this will bear heavily on a section of the trade whero tho majority have already ai sufficiently liard struggle to maintain their position in view of the encroachments of a few prqminent firms whose business is being steadilv extended by lavish. advertising. Altogether tho outlook m ™isky. trade « not a brilliant one." Toa.—Mail advices e:o to show that, at the time of reporting, m Upper Assam and Central Assam the immediate prospects were fair, and the weather is seasonable. In Lower Ar«am the prospects were bad, the rainfall being deficient, In Aorth and South Cachar, the Eastern Dooars, and Sylhet, the outturn was poor. In Prospects were bad, and in other districts fair;\Thero had been good rain generally in North Cachar,' and the weather was favourable in the Eastern Dooars. Dry weather was interfering with the outturn in South Cachar and. S.vlhet. The outturn was very poor, but the immediate prospccts. fair in the Western Dooars, Darjeeling, and the Terai. Good rain had fallen, and generally tho future prospscts were brighter, except in Darjeeiing, where there had been severe hailstorms, resulting in considerable damage to the crops. lnofar.-"Midland lied Hock; quarts, Bs. Gd.; Chnmninn. quarts, 9s. 6d.; Ecd Seal, quarts, 45.; Midland concentrated, Boz. bottles, lis. 6d. per doz.; concentrated, sgal. casks, 9s. Od. per gallon; pure malt; 28gal. casts, 2s; 9d. per gal-

.Customs revenue collected-at Wellington yesterday. amounted to JJ4514 Bs. 4d; .. : WHEAT AND FLOUR. ,(BT TELEGRAPH—rRESS ASSOCIATION— COPYRIGHT.) i \ m '.M f , London, June 15. Tho total quantity of wheat and flour afloat for the United Ivingdom is .3,285,000 quarters, ? ® Continent 1,765,000 quarters. At* lantic-shipments, 139,000 quarters! , ®eo. June 16, 10 p.m.) " London, June 16. . Wheat cargoes are firm ; 455. to 15s. 3d. is asked-for near Australian arrivals, 445. for distant;:,44s.u has ibeen paid for a parcel of a thousand guortjrs, and 41s. 6d. for a cargo.

• METAL MARKETS, ' (di teiegraph-thess association—coptright.) ■ (Bee.:-, 1 June 16, 10 p.m.) ' ■ ~ London, June 16. Copper-Onlho spot, .£59 10s. per ton; three months, .£6O 7s. 6d.; electrolytic, ,£6l 10s. 'lin.—Spot, ,£l3-i 10s. per ton; three months, .£135 17s. 6d, Lead, £13 2s. id. per ton. ;s.Silver.T-24d.;,Der 'ounce' standard.

-BANK SHARES. (dt telegraph press association—copyright.) _i, •• London, June 15. ■ -The following are the latest .quotations

" AUSTEALIAN PRODUCE. (BT TpiEGRAPH— PRESS ASSOCIATION—COPYRIGHT.) t"„," , ~, ' Sydney, June 16. J, 'l l m 10s - 0at 5, Algerian ,f.; d -o t0 f- 4 r - . whlt , e 2s. 6d. Barley, Cape, 'Maize, 4s. 3d. Bran, £5. PolA ji' Potatoes, Tasmanian'red skins £ 4 ff s 'V>r in 4 T IDa i 3 '. Onions, Victorian .£6 6s. to .£6 10s., New Zealand £5. Butter, 116s. Cheese, Gd, ,t0..81d. Bacon, 7]d.

' Melbourne, June 10. Wheat, 55. ; Flour, <£11 10s. Oats, Algerian 2s. Id., feeding Is. 10d„ stout white 2s. 3d Maize, 45... Barley, feeding 2s. 3d. to 2s. 7d„ nulling 3s Gd: Bran, lid. Pollard, Is. Id! J&.to.M, Onions, 4» 10s: Cd. 'm «'«•' ' tii Adelaide, Jnne 16. -•'* ' M 1: Brnn '' n i d > Pol. . .. HEMPi A . BIG PIEM'S INTENTIONS. (bx. telegkaph—press association.) : fin. : f «.• , Palmerston North, June 15. Onel of the local papers states that a mcetn™ °? (''rectors ot tho A. and L. Seifert Flax Dressing- Co Ltd. owners of the world's bie-gestjax-milhng plant of Makerua, has, aftlr 5?° a ! u5 ln S the wholo situation, decided to send T>K r r ■ • managing' director, to the W P^ n ?,, Is ''] nd ? f to investigate the condiof the Manila hemp industry, and also in/?TTS*- 1 ? 0 ?i?'V c . a A a - D ' A 0 investigate tho sisal industry, which, within'the last few years, has assumed imnienso i proportions. Tho company has deeded: to adopt this course, on account o f the very, unsatisfactory state of the flaxmilling. industry. The price ,is low, yet the production of sisal and Manila seems to be on ;ie ' increase. last neek, • according to the & a S cables - th ,e Bhipment of Manila was 39,900.bales—a record. Me result of Mr •Seifert's-investigation will decide, whether it is worth while persevering in this .industry. The position, as far as the millers are concerned, is quite clear. The cost of production is regulated by the Arbitration Court, and the land and industry are subject to taxation . which millers regard as an unjust "handicap. So, if .Manila and sisal can bo produced at a profit* ,:at the;.present prices, or lower, it,will be necessary to consider whether it is:worth while continuing in the flax industry; : (BI TKI.XaHAPH.— SPECIAL* COUHRSFONDREfT.I Palmerstori North, Juno 16. trai ..district flaxuiiller assured a Standard "representative'yesterday morning ■5, the industry was on a very much lower ebb than generally thought. Ho considered indeed that, unless the silver lining appeared very shortly, the end. of tho industry was .easily in "sight. His own experience during ;the past-year proved this to be almost conclusive, and-yet ho is one of the'fortunate few Who do'not pay royalty, etc. Had ho been subjected to, the samo charges as the majority of millersi' he would have had to' faco a serious deficit. He is certain that there is not'a mill in tho district paying_at tho present time, and unless circumstances alter-greatly for'tho better.they.vare not, likely to. ; 1

\ STOCK EXCHANGE. v .(DT) TELEOIUPH.— smciAL CCTRBSPONDEpT.) A V Auckland, Juno 16. On th© Exchange to-day National Banks were som at x»)'7s."ycl.; South British Insurances at 495. -9d.; Auckland Gas at 18s. Gd. and •£ls'; Talismans sold at Ms. 3d. and 545. Waihis at <£9 4s. 6d.*r Waihi Grand Junctions at from 465. to 465. Gd., and 465. 3d.', with late sellers at 465. Gd. and buyers 4Gs. 3d.; Grand Junction options sold at 21s. 3d. to 21s. 9d. to 21s. Gd • .May-Queens at 2s. 7d.j Waiotahis at 3s. 3d.', '3s. 4d. J and 3s. . 5d.; Crowns at'Gs. and Gs. Id.: Waihi 'Consolidateds, from 4s. 3d. to 4s. 4d to ,45. ( 2 d.; and Waihi Extendeds at Gs. 9d. and '6s; Bd. <

'~'(BT TELEGRAPH —PRESS ASSOCIATION.) : ;• Dunedin, June 16. • . Stock' Exchange sales;—lsland Block, 3s. (two parcels). Sales reported-Consolidated Goldfields, 18s. i New Zealand Paper, Mills, ,£1 2s. 3d.; Waihi Grand Junction, ,£2 Gs. (threo parcels), £2.7s;J : J3aiik of New' Zealand, 3s.

. Buyere. Rollers. Sales. tit'•!.. n,i t ,. £B - d> is - d - ■•'*«• <1. Waihi Gd Junction 2 5 9 2 6 3-260 ' : m a W y '■'— 9 3 ° 9 3" Wailu Extended ...,0 6 7 0 Gil' — Waihi Consolidated ~ — .0 4 1 0 i i Watchman .....'. 0 1 10 0 1 11 — Now Sylvia ,.: ....;..— . 0. 2 7 — Tairua Broken Hills 0 2 6 0 2 9 0 2 1 Talisman r .2 13 0 2 13 6 2 13 3 N.Z. Crown 0 5 11 — _ May Queen , ,. 0 '2 6 0 2 7 — * Con. Goldfields ...... ,0 17 9 : 0 18 3 — New Bis Riw ....... ■—'■' 2 1G 0 —- New Alpine (10s.'pd.) 0 8-9 — — New Alpino (9/3 pd.).; 0 8 - 3 ■ 0, 8-9" 0~-'8'6

.:■ '.,;6a'nks. : ."■■''•'' Buyers. Sellers. '■■ ■!«' ,s-:.: ■:'■■-: £ s. A. £ s. a. Australasia 107 10 0 108 10 0 . ilsew ,South Wales ....: 4-1 10 0 45 10 0 Union ,'••» 63 0 0 64 10 0 •.•.National ; 5 7 C 5 12 6 New Zealand 10 0 0 10 10 o