COMMERCIAL ITEMS.

Dominion, Volume 2, Issue 612, 15 September 1909, Page 10

COMMERCIAL ITEMS.

INVESTMENT SHAEES. Sales of. Union Baul; shares at £64 17s. 6d.,. and Wellington' Gas, now issue, -at. £2 ,2s. 6d. premium, wore roported yesterdtty. The quotations were practically without change. Bank of New Zealand, buyers £9 35.. sellers £9 69.; National Bank, buyers £5 135., se era £5 17s. 6d\: Wellington Investment, buyers 11s., sellers lls. 9d.; Wellington Trust and Loan .sellers- £7 2s. 6d.; New Zealand and Jiiver Plato, buyers £1 14s. 9d.; Palmerston North Gas, sellers'.£7 155.; National Insurance, buyers £1 Bs. 3d.; Ohnstchurch Heat, buyers £10 10s. i New -Zealand•Shipping, buyers £7; Wellington Woollen, buyers £2 17s. .6d;; Taupiri Coal, buyers ,19s. 9d.; Westport-Stockton, ' Boilers 75.; Sharland s, ordinary, sellers 20s.' 9d.; ; Miramar, Ltd., sellers 14s. 6d. ~ . • : v . MANCHESTER SHIP CANAL.' Tho report of' the Manchester Ship„ Canal Company for the half-year ended June 30 shows that tho total expenditure on capital account to date amounted to £16,779,634, leaving a balance to credit of £299,014. In" spite of the fact that thcro was a falling-oil o£ nearly 100,000 tons in tho weight of sea-borne merchandise, tho company managed to earn a larger pront-tnan in the corresponding period. This was due to tho fact that while there was a heavy decrease in low-class traffic, notably coal,' an lncreaso. took place in some of the .better-class freight paying higher tolls. On the working of the ship canaf itself -an advance of £8«0 in receipts'is shown,'.while at tho same time working expenses wore £2600 lower, thus giving an additional £11,000 in trading, proOt. . Tho net return from the Bridgcwater department was, however, £300 less at £11,700.... Including interest receipts the total net.'Tevenue , amounted to £127,900. as against £114,000, an increase of £13,900, and after .payment of prior charges n balance "of £56,100 remains, which .is devoted to meeting interest on tho debentures held by.tlie Corporation of Manchester. :■■■'■ , . lEON AND STEEL IN THE EAST. Great hopes aro entertained of ■ ultimately establishing iron and Btocl works in Australasia, and there are many who believo that the industry can-bo profitably established in New Zealand if the necessary capital were available. While we are waiting, Chinais pushing ahead, and <the industry has made considerable progress in both Ohina and Japan. According to ■a Far Eastern correspondent of the "Economist" (London), the Far East is extremely rich in coal and iron ore.- Steel-making pig-iron, smelted in a Ghinese blast furna6e, has already been delivered in New York, at 70s. per ton. .c.i.f., while in Japan they aro building first-; class battleships almost 'entirely of home-made steel. The Hanyang Iron and Steel Works in China employs nearly 4000 men, and is manufacturing plates, sheets, bars, - railway and struoturnl materials, and many other steel pro-, ducts.'' This concern is situated near the city of Hankow,, 600 -miles up the Yang-tse-Kiane which, is navigable- to-that, point >,by vessels, drawing nearly.2oft.-'of ; water. It is estimated that in tho province of Shansi alone thoro areover M0,000,0M,0C0 tons of coal deposited-six times tho estimated quantity available.in the United Kingdom. Most of this coal is of.excellent quality. The iron ore: mines np'the Biver'Tayoh, 200 miles from Hankow, have a daily output of nearly 1500' tons. The.ore,-which yields over-60 per cent, of iron,-is brought,-down the river to Hankow, in steel lighters,. towed by,tugs. Some of :the ore-is.-lelt at the Eanyanpt works, and'the rest is shipped to' Japan. The Hanyang plant comprises three, blast" furnaces;-with a combined daily-capacity, of about 500 tons, of pig-iron; fouA open-hearth :stecl~fnrnaces, each of. about 60 .tons daily, capacity; rolling mills for bars',-'rails, plates, etc.; and bolt,'.'hut, and' spiko machines. Theso works are being es-

tended, and it. is proposed to erect a,new plant a few miles further down the fiver, just bolow Hankow, for. the manufacture of steel bridee and, structural material, and . railway cars, trucks, and .other, equipment. ~lt is.; also intended to put up a plant for'.making .cement; from the blast/furnace'slag.' iTho wages paid at these works average about Is; 3d. per day,, skilled . furnaco . ami ■ millmen.' getting;. up' to about 55., while" unskilled labourers arc paid as little as sd. .' :.\ '. ~. .■■;,-. J;-:. ..;.-. . . : ' v BRITISH P.O.' SAVINGS 'BANK; • ■ ' Official 'figures have just. been , submitted'to the Imperial. Parliament giving particulars of, the accounts of tho-Post Offlco Savings Bank for..the year ended. December 31 • last.... The: actual .amount of'. cash received'.: from' depositors' during tho year;-amounted.,t0.'£44,770,800, ; 'V or £624,800 less than the amount withdrawn,'but when ,-£3,772,800, tho amount of , interest, '~ is added to deposits,- tho . .balance, ■"'■ due;,..tfeidepoaitors i5'£3,148,200, more, 'thanvat. the tend:- of 1907 at £160,643,200, to which has toboadded £117,000' warrants: issued; to. depositors, buUpbt cashed. Against •'these;-". huge-, ;liabilltiCß;-thero aro'held stocks'to" the amount of-X102,327,'500,'0r £2,723,ra0'm0re than a year ago, bills and bonds totalling £5,885,900,. or £699,000-less,-than at the end of 1907, while-tliorc"arc-annuities, advances and interest 'accrued amountfne to £52,432400. or an increase 'of £1,391,000. The amount of - Wish JieJ4i;jis'only---£J55,500i , .,an- , liifltilt<ieinial' l'-Bnm-conjpaiSiVH'tfl?thcjMgurb Jot Ctw ,llabilities;and a-Voirit"wnicli "has mot' with considerable criticism in ;, the discussioua.".on.,,gold,reserves held ,by banks;-jTho.l'oat-.'OfßiM; UankVA' liowover, is n,pt undettaking— no' : ordinary, bsiik'-obuld 'work on such'a, margin .of rc.idy oasli—and ' is. not bo . liable to siiifer, ft run of its ■depQritors , ,i'whUfcAof*, < I:ours<!, , 'it has. the Government backing and its high-class so.curities. . In' the - total of stocks held-there is. included £60,241,000 consolei- £19,498-, COO .local , loans stock,.and over. £14.000,000 'of animltics.' Tile decrease in . the actual deposits: by.Kthe publio ia typical of the'-diillnesa of 'trade, and the consequent- lessened, earnings, of tho community. . ANGLO-GERMAN T-KADE. KIVALEr. - : V The' rivalry between'the Euglis'h and, the .Ger'-' mans; in - the Bar East becomes more marked ■ day by day, aays a correspondent of the "Horoe\ ■yrcmya," at- Inkow. In tho vEnglish club's, which, indeed.-had long ago''become--:inter-national, ;but v in which, nevertheless, the English .-element predominates,' 'you will. ■: scarcely ever:- .moot Germans, notwithstanding the fact. that-Hhese meeting-places ;in most eases-play. , tho part of ; exchanges' for all kinds .'of: commo dities.. This'-fact ■ alone shows how great is the business rivalry between the Englishman and i the, German.. Thb. result'.of. thls..ie-'scen in the unlimited credit granted to the Chinese, and the enormous-amount of tbeir, indebtedness. In Ticn-Tzien this debt nmounte to over α-mil-. lion/pdunds, and the local foreign ..merchants; have applied to the Chinese Government', with the,requeet, which'is possible only in China/to .guarantee the,payment.,of the old private; merchants' debts. .The .Germans have turned Ereaf attention tooutsido show and pomposity. Alongside the respectable old buildings, of the Engllshv Consulate, banks, dubs, and municipalities arise tho luxurious buildings of tho German 'Consulate , . and corporate- institutions, which might' decorate any European capital. All this is'done at enormous expense, but notwithstanding 'tho general decline in. business in the Far East during the past two or three years,'and tho financial crisis,' because". of which many German firms ' have been shaken, the Germans do not lose couraso, nor do they restrict their plans." In Poking tho Germans have put forward all their strength in order to engage the confidence of 'the Chinese .Government,' and, Judging from tho present, aspect of things, this, effort-. has been 'crowned with 'conspicuous .success. '■ Customs revenue' collected' at. Wellington yesterday amounted-to" £2497 45.-3d. . ...-...■■.

". ;■; ': . WHEAT AND'FLOUE. ' ■' ■ ' -.- ■' '„ . . :London, 13, : ' . Tho total quantity of wheat and'flour afloat for tho United Kingdom is 1.KO.0I1O" quarters, and for 'tho Continent 1,445,000. . Atlantic, /shipments.178,000',. Quarters, i Tho total . shipments to" Europe during the' week 'are 1,300,000 quarters, not ■ including. any from the Argentine and Uruguay. ■■ ' ', . ' " . _; ; ■ BILVEIt. ■, , ' ■ Bar.eilTer is quoted at 23 11-ifid." per' ounce standard. ;. : : ' i: . ■/''■" ■.■•:'• 'PBIOES OF METALS. ..; ;' ■ ' • "•■ (By. Tclcßraph , .—V'rcaii ABSCidnllon.—OoDjrlohl.! ~ , (Keo. .September 1.5, 0.25-a.m.) '.''"'"■■■■':'.■ . '.' London;, September 14. ' ' Oopper.—On the spot, '£58 sa. i three months, £59 2s. 6d.; electrolytic, £59:125. , 6d. per ton. , Tin.—On the Bppt, £136 155.; three months,£l3B per ton. •'.-■ ... , Lead,'£l2 8s; 9d. per ton. WOOL AEEIVALS. : -.■;'.'■' . (By Tclceraph.—Press Association.—OoDyrlght.) tEec. 'September 15, 0.25 a.m.) , .__ • ■"■i." London, September 14. , The arrivals of wool k>.date are 125,500.ba1e5; forwarded direct to imrcnaser, 47,500 bales; available for ensuing sales, 93,000 bales. . .. ,: ; ; LONDON lIAEKETS. .' '. .' V . The New Zealand Loan-and Mercantile Agency Company have received the following cablegram from their London house:—"Frozen : meat—The market shows increased firmness for mutton: lamb slightly better; beef (sides) slightly weaker." ... ■ *■' : ; Messrs: Dalgety and Company, Ltd., report havirig received the following cable message from their London house, under date of .Sentomber 13:-"Wool.—The list of . arrivals ■ is cluscil. Tho rfew arrivals amounted to 125,500 bales, of which 47,e00 bales have.been forwarded direct to manufacturers at Homo and abroad. Thcro are 93,500 bales for sale, which, includo 15,000 bales old stocks."