COMMERCIAL.

Dominion, Volume 2, Issue 551, 5 July 1909, Page 8

COMMERCIAL.

THE SHAKE MARKET. A sale of National Bank shares at £5 12a was reported on Saturday. Investment shares are very much neglected, and the number of stocks, quoted •:is'. very restricted. ■ National Bonks, bnyere .£5 lie. ;■ Wellington Invcatraont, buyers lis. 6d.;, Wellington Trust and Loan, sellers. .£6 18s.; Teildiag Gas, buyers XI Os. 6d.; Standard Insurance, buyers .61 2s. Gd.: Wellington Jfcat Export, third issue, sollers, JS3 Is.; Westport Coal, bnyers,..£G 7s. 6d.; West-port-Stockton, Coal, 7s. i. Wellington Opera Houso, sellers £7 ISs.; Sharland's ordinary and preference, buyers 19s. 6d. . . ; THE MINING MAEKET. Sales of Talisman woro reported at £2 12s. 6d., £2 '12s. Cd;, and.' £2 12s. 9d„ and a salo uras.-made on 'Change at, JC2 13s. 3d. .Other sales'reported wero May Queeix ( afc Ss; Gd., and New Sylvia at- 3s. Sid. Tlio quotations,: with last recorded 6alcs, wero as under:— ,; ■'[,)- :Buyers. Sellers. Sales. I- ' £ e.'d. .£ s. d. •£e. d. WaihiG'd. Junction 2: 5 G 2 6 3 — Waihi 9 2 6 9 4 0 - Waihi Consolidated 0 4■ G 0 4 8 ■ — Waihi Extondod ... OG4' 06 7 — . Waitanri . 0 4. 0 — Talisman :. 213 0 213 6 213 3 Saxon ; 0 2- 8, 0 2 -9 — May Queen ............ 03 5 037 03 6 N.Z. Grown 0 6 1 0 6 3 - Kuranui Caledonian 0 1 8., — ■ — Now Sylvia _..s 0 3 3 — 0 3 3i iMaoriland. .....' 0 .1 5 .0 .17 New Alpine (10s. . paid) — 0 3-»0. . New. Alpine (9s. 3d. paid). - — -:- 0. 8.6 — Con. Goldfields 018 0 018 6 Blackwater 1 6; 6 J. 7 G — SHIPPING SUBSIDIES. It is'marvellous how. British.shipping manages v to maintain its pre-eminent ; position in the -face of. the huge. subsidies .granted.; byforeign Governments :in support of their ship- - There appears to. be no intention to. restrict" 1 this kind' of • support. .For example,' the Frenchßudget, for' 1909 provides' for .£370,000 for bounties for shipbuilding, as compared with ; iC4lG ( ooo':in" 1908,'. in .1907, ;.arid. J!101,200 in 1906, "and £1\210,000 for bounties,for navigation, 'against £1,320,000 in 1908, ,£1,3-10,000 in 1907, and..£si9,2Co m 1906. In addition, a sum of -,£1,059,428: is set aside for subventions granted to certain navigation companies, of which; that, to New York absorbs '<£443,320, | whilst. the Indo, China, and Japan service takes i 5238,253. ' Another striking ;inßtance of Stato I aid is , the agreement just concluded between i the Italian. Government and the Lloyd iltalii ano, , which- has a currency, of 20 years, and | relates to shipping cervices in the MeditemwI ean, to India, China; and Central America. Thereby'; it if>. enactqd. that. tho -Government, will pay to tho compomy in the first two years an. annual subsidy ■ of: .£032,000, rising to .£692,000 in each.of tho following three years; tho subsidy for',' the'-succecding 20 years being, '<£720,000 per. annum. :The ''company '.will;' defray out of capital tho cost of purchase and construction o fa,now fleet, ;as;,well as; by the [ issue- of redeemable 'bonds, which will be secured by' tho'State subsidy.. ' Tho company is I to be allowed to '-pay' interefet >to the sharer holders up to 3 j: .per. .cent.'sin, the first .five years, and the surplus' is to ..form a special reserve .fundi which von -.the expiration- of tho quinquennium is to bo equally divided between tho State and the company. If,- however, tho receipts affld'this reserve fund 'should. I not'sufiico to secure 3 per cent, interest, the State will grant a sum not exceeding 20 per oent.' of the. amount' of. the ; 'animal subsidy. During the following. 20.- years the company will rbo authorised .to distribute up to , 5 per oent.; .but in the event of: .the} receipts not being sufficient. to yield 3 per' cent. • on. the share capital,the.; State-, will I assure; theprovision; of the-'iamonrit.,-:;- Competition ofi'.this | character - renders the lot of non-subsidised ; rivals anything but -pleasant. ;[ 'y.v; NOTES. | . Almost tho only item in the import trade i of Natal'during the past year which , shows an increase 'is;'drapery goods, l the ,• value. of which: I shows an increase 'of about 6 per cent. For. I several-previous years the imports of;, those [. goods had-been declining, i .. i ' r . I ' The railways of China,now in operation have anVaggregate .length .of - about 2170 .miles,;'lf. Ith'eiManchurjah-Kailway-fpaxtly: Japanese -and -partly •Eu£si i an,;;.;.under : -.present,;'political s ar■rMgeinent—iidi.the .Japanese, line,-to Port ArLthurare included,- the total is about 3434 miles. 1 The line's under 'construction in;. China represent' 806 miles';' tho lines whose construction has been prorided for, 2232 miles; and. the projected lines, 3288 miles.. ' . V.This company i having,'just; escaped paying a i fine 'of .£5,850,000, is. once more 'in the law courts, the ._ being illegitimate competition'in contravention of the Sherman. AntiTrust Law. During the. first four months of this year Argentine exported 02,651. tons frozen, ■ and, chilled beef,, 26,896 tons frozen mutton, 30,331 tons- hides, 114,252 tons wool, 2203 tons butter; I 2294 tons jerked beef, 17;349t0ns tallow, 55311 tons bones, -307,146 .tons oats,-14,889 tons, .barley,; 539,275 - tons .'- linseed;--187,263 tons' . maize, ;,8500. tons hay, 1;758,585 tons .wheat, ' 36,329 tons | flour, 69,172 -tons brans, besides other products, i the,total for the period being! 3,480,46f tons. CUSTOMS. • I 'Customs revenue■ collected -at Wellington on. Saturday amounted to JJ2756 os. 2d. The fcjtal i for" the week was .£16,435 os.- 7d., .beer duty amounting l ' to ',£205 4b. The 1 corresponding figures for last year.were: for the day, .£1899 ss. 5d.; for the week,..£17,719 Os. 6d., beer duty, i '£205 vis. FEO2EN MEAT. The New Zealand Loan and ;,. Mercantile I Agency. Company, Ltd., have received the fol- i lowing cablegram from , their London house,; under' date July 2:—Frozen Meat.—There is !fair/inquiry 'for;frozen, muttim, with prices still weak. The markot for lamb .is depressed, with lower prices ruling.-, There is good de-1 mand and 1 a fair market for frozen beef (sides), i r >."N ■ •>,j SHANNON SALE. 'Messrs. Abraham and Williams, Ltd.,report: | , —We had a small yarding of sheep and a good i yarding 'of Sheep sold well-at market rates, but,cattle were dull of sale. .Quotations; Fat and forward owes 'and.,,wethers, : 125.; 6d.;', 2-tooth wethers,' 125.: 7d: i<endptyreWiaa;j"Bs.";.6'd.; 2J-year ■ steers,. i£3' 2s. • 6d.; 18-months'. to 2-year steers, £& 9s. -6d.;' 15-months steers, SBs. . 6d.; springing, heifers, .£4 ss.!;.heifers in calf, springing cows, £i 10s.; storo cows,' 325. :6d.; fat: cows,! ;135;;,t0 l?s. «t0.;245.; empty heifers, 2-is. • to. 265. .. • , ; ,' FEILDING' MARKET EEPOET. ' -Messrs. A. H. .Atkinson and Co.;' Ltd., report (July 3). amedium.-entry of pigs,': some 'niceconditioned porkers and stores coming forward, ,whicn made top values. 'The mafket is ■,still short of reauirements,;so'me good sows to profit in August are how being offered, and command top prices." .. In produce, lines, potatoes are. slow of sale, first-class, lines,' free ; from blight,aro; selling at, from 9s. 6d. to 10s. 6d. per sact. - Pomtry,' in .'considerable supply, is selling, at full rates; ' 140 , hirds sola— : anything showing'condition meeting with strong competition. Quotations:— Pigs: Light; porkers, 21s„. 255.,' 255. 6d., 29a. 6d., to 325.; forward stores, 275. to 285.; smaller 6orte,l3r. 6d., 16s. 3d., 175., 27s. 1 to -25s.Five-year harness 'igelding, £15 IBii. English collie sheep: dtift,' <Gl:Poultry: Boosters, Is. 4d.,. Is. 7d., .'ls. 9d., ls.ilod., 25., to 2s. 3d.;,P.8., 2s. 9d. to 35,; hens, Is. Id., Is. 2d., Is. 3d.,, to Is. 5d.; ducks, Is. lOd. to 25.; geese, 3s. 3d. (all at each). , Produce: Table potatoes, 7s. to 10s. 6d. per 6ack; pig, 2s. to 3si' Gd.; -pumpkins, 3s. to 55.; carrots, 2s. 6d.; to 35,; cal(Dag«®. 3s. 6d. to 3s. 9d.; onions, from Jd. to Id. per lb.; parsnips, Is.' 6d. small bags;: factory bacon,, 7Jd.; hams,-,Bd. 'per lb.; wheat, 16s. per sack; chaff, Is. 9d. to 2s. 6d. We held, during the week, a successful sale of trees, shrubs, etc.,. also . large clearance 'sale of furniture. v : : DREDGING RETURNS. ' ; (By Telegraph.—Press Association.) - Dunedin, July 3. Additional dredging ..returns: Waikaka United No. 1,:260z.:1dwt,; No. 2, 350z. ldwt.; Rise and Shine No. .1, 21oz. 15dwt.; Rising Snn, 260z. 13dwt,; Punt, IflozV 17dwt; New Trtf»lEar,l7ez.'9dwt. Ounedin, July 4. Dredging: New Roxburgh Jubilee, 3ion. 16dwt. for-tho week; Electric No. 2, 260z. for four days; Muddy Creek, 17oz. 15dwt. for 126 hours; Chicago, Boz. for 125, hours; Enterprise, 21oz. for five days. -, :■ -.•-