COMMERCIAL ITEMS.

Dominion, Volume 2, Issue 617, 21 September 1909, Page 8

COMMERCIAL ITEMS.

. ■ m VESTMENT. SHAKES. . Sales- of Palm'erston North 'Gas' at £7 153., and Lipton, Ltd., £1 paid, at 24a. 10jd., were reported yesterday. There was a fair number of buying orders, but. business was 'quiet. National Bank,.buyers £5 19s.;\ New Zealand and Eiver T>late, buyers £1 14s. 6d.;'.-Wellington -Invest™?nt. buyers lis. 3d.,, sellers ,11s. 6d.; Wellington Trust.and Loan, buyers £7 2s. 6d.; Feilding Gas, buyers as. j Palmcrston North Gas, sellers £7 lis,;-South British Insurance, buyers £2 125.; Christchurch Meat, buyers £10-10s.;: New Zea-' land Shipping,'buyers £7; Union Steam, sellers ±1 135., 6d.; Wellington Woollen, buyers ■'£3 j Taupin-Goal, buyers 19s. 9d.; Westport-Stock-ton.Coall.eellers.es. 9d.; Loyland-O'Brien Timber,, sellers 225.. 3d.; Sharland's, ordinary, sellers 205.6(1.; Taranaki Petroleum, sellers 10s. ; :.THE,BOTTEB HAP.KET. ,''...,:, \ ,Thc London butter market'is displaying the firmness that, is usual-,at 1 this time, of year. Danish butter has risen 2s.'per cwt.' during the' week, and the same movement was recorded at tho corresponding date last year. The factories and the dealers have not come together quite as readily ,as they have done in previous years, and. it'is tho dealers/who exhibit'reluctance. By this time last year most of the contracts for.the season had been arranged, but ■this year, : the business is hung up because of the difficulty of assimilating the views' on the' prospects of the market' held■' by buyers ' and ; sellers. The dealers, lost heavily last year, and this has. naturally. made them extremely careful. According, toALondon advices sales for the season.have been made at 107 a.; but it is added that this is. an unverified rumour. Values at present; are . a shade lower ,than they were a year ago, as, the following will show:— „' '-."■ '■': \ ; .'. •'Sept., 1909. ' Sept., 1908. ■ Danish butter '121s. to 1245. 1223.t0124x ■ N.Z. contracts 107s. 0.1.f; .'■■■ 112s.'to 113s. c.i.f. N.Z: cheese "...-.' 575. to 58a, *,

:, ; , :"■";■ V new; com .'wanted. ;. ' •;".'■•' .'" The great strides that have been : made in electric traction have created new wants, and chief among these appears to bo the,need of a new coin. At the recent meeting of tho British Electric Traction Company, a shareholder made an interesting; suggestion on this matter. It was pointed outxthat' the tramways of this company, 'like many motor omnibus;and other public. transport undertakings, aro working'on an almost negligible margin of profit, owing to the low standard of fares;,' There are: many praoticnl difficulties in the way of raising fares, one being that the farthing: is not a'convenient, coin for use on- tramways,' while an increase from ono penny to three halfpence would '.be; excessive. Mr. Braithwaite stated that "if passengers paid a penny and a fifth .instead of' a penny the tramways"would, bo placed on a sound' financial, footing. At present the average fare; per .passenger ..on the tramways 'of tho British, Electric' Traction 1 .Company is '.1.23 d.', 1 ' ane 1 if that .were increased by one-fifth of, a penny: the-'annual'ioveuuo • would , benefit ,by £246,000, without 'any: increase' in' -expenditure He- accordingly suggested the .'striking of 'a'i new' coin which would; have. the value of ono penuy and 'a,fifth.-Five, of tho now, coins would, therefore t go 'td make sixpence, and'2oo to make- a sovereign. There can;be no doubt that such a' coin: .would'be of great convenience, : not only to tramways, railways', and .omnibus.'.undertakings, but. would bo .welcomed in • the 'drapery,provision, and. many ..other trades whoro the present penny; docs', not' leave a 'satisfactory margin of-profit. ,: •'•.-:., -;,'"■: '■';"' i ~

,■;- 'jV ..:.',NEW SEAMM 'MATERIAL.'. f-H% rA new method ...of .hermetically, sealing ■. tins,, boxes,. ;and. other packages :in -which fruit,--fish,'' meat, milk, and .similar' perishable- substances »re.put s up has ,been"invented by a Euisian chemist,' M.*, Plinatus, who., has for. a number of years carried on experiments/with hermetic-ally-closing, materials and apparatus at tho suggestion of a.i Continental jam, factory;:' His .system consists'of, a combination of mechanical methods with tho use . of, a ring made of. an absolutely Innocuous .material which obviates ■all tho': drawbacks associated with tho'use "df indiarubber.'- The ring of this new material does not in-any, way affect the.-mothod,'hitherto 'employed..-of- spidering exedntras., trifling i alteration to one part- -of.-ith"e'> soldering machine. ' The system unci or notice 'tbns'ists'in the use-of an oval, round or pother,: soction''of ring made of this new mate'rial..:-It'is : .o£, such a nature that when tho closed'.tin., is,'sterilised '.its size is. increased by hea£ing;,':thereby forcing it- Into:-all' interstices, while'.'itsVadhcsivi,ness, ductility, and -, indißsoliibility'.> > pr6duco'- v ?a perfect' hermetic seal. The "Pliriatus'-Wfiiigr are -being placed on the market more''clie'aply-'than ,those of indiarubber.. They effect on 'the' condition or flavour', of- ; 'any, contents, nor'aVe',they affected byK;',,fatty''isubstances such as olive oil, nor by petrol; alcohol or, oil of turpentine...so that itins ■ coritainin* such , substances' need no - longer .' be'■'' ■ soldered. The rings fit at once flat.upon the box lids', and they do not' need to ob.'separated ;iikoi'inaiarubbor rings;.- which have a: tendency -to : -adhere./one to' another.. Hence: they,:aro '-also, cleaner, ■■ more, economical, and', rapid i working. They can be kept, it is claimed,. fbr> months and even, years without their qualities deteriorating, and 'this- applies, also'to; their-action when' in position in the tins., They .can" be sunplied' for use with exactly the same','machinery as. that - employed for fitting''on.''the', l ' rubber rings, and •in any size' and shapo ; desired for sealing '.metal vessels; containing ;oil,.,benzine, petroleum.:paints and coloursi.arid any perie--traung liquids.' !■'. ,-.,;;';:,•:.'.'.'.-"-„;,';',:,;•,'.'■■

■:(:■.. V'v.V- ■■:■•••/■■ •..■■ - ■.-";■• ■"■ ■. ■■•■.'.'.• . . AUSTEALIAN |AND .CANADIAN BANKS.' -The Melbourne. "Argus," making.-m;e : of the latest available statistics,- makes a'comparison of the banking resources and facilities of Australia and Canada. The number of banks trading, at the,present time in Australia totals 22. These have: a paid-up • capital of £17,840,000, and their total liabilities to the publio amount to 0r0r'£174,000,000.. In Canada, according to a compilation by the .''Bankers' Magazine," ■■ the' ■total, number of .banks in: existence in tho .'Do-■ minion is .27. •: Excluding a' farmers' bank, the paid-up .capital of those institutions is £18,156,638, and'their liabilities to the public £147,677,000. 'Deposits,, etc., 'amount .to £154,037,000, whereas the total deposits of the Australian banks :amount: to £160,196,000.'. Owirigvtb- the different way, in which, the/accounts: banks of; the two countries are kopt, it is not' possible .to'make .a close" comparison of the cash attd-other items included as liquid asseti in Australian; bank balance-sheets. In Australia coin and bullion, cash: balances, and notes of: other banks aggregate nearly. £40,000,000.. and tho public . securities nearly £12,500,000. The Dominion banks have cask, in hand, Dominion notes, .etc., amounting-, to; £25,041,718;. investments;. £15,112,660: and deposits with the. Government on account of circulation, duo from other' banks, etc.," £11,763,000.' . Total assets stand ati £180,600,000,: whereas: the. total -assets of -.the •Australian.banks are over £201,000,000, of which £127,000.000 represents: advances, otc, and £12700,000 bills receivable, etc. These items lumped in the case,of Canada total £124,675,000. One feature •■. of -similarity between the ■ banking insti-' ; tution3 of :the two' countries is the great number pf branch offices. Canada has \a Dominion note, issue,'and tho. banks have to hold 40 per cent, of their- cash ■ reserves in Dominion notes. But'.tho:hanks also have the. right to circulato their -own - notes, which are free of note tax Owing;to.their) nearness to Now Tork'also the banks are onabledto lend their gold in that centre. -: Australian banks, on ' the other hand, owing to their distance from any such centre' are loss favourably situated. Hence the large gold reserves that have; to bo maintained' by them. . •■;.- ■-. ... ..- . ; ■ .)■

.Customs'.revenue collected at. TVellineton yesterday amounted to £1367,05.9 d. ■ HIGH' COMMISSIONER'S CABLE. -, :, ' The Dcpartmont of Industries and Commerce has.received, the. following cnblo from tho Hieh Commissioner, dated.London, September 18:— ' The mutton market is firm, and supplies are decreasing. Thor'6 is an endeavour amonfcst holders to raise prices of mutton in anticipation of small shipments. Canterbury mutton is quoted at 3Jd. per lb., North Island at 31d., and Elver Plato, at 3Jd. ,',.■••• ...■: Tho lamb market, is'weak and "stock'! is heavy selling at present pricoofmutton.-Ttz.,'Canted bury 31d.' per lb., and North ' Island ■at 3id. per lb. ... Tho beef market,is quiet, and there is a fair' local demand. New Zealand hinds are quoted at 3gd. per.lb., and fores at 23d. per;lb. The butter market is Tery firm for "best quality, and tho market is advancing steadily. Tlio "Grocer" newspaper advisc3 that. • forward purchaso should bo avoided at present state of market. Tho price for New Zealand butter today is 118s. per owt. ex Turakina. Australian iB quoted at life, Danish at 1245., and Siberian at 106s. The cheese market is dull. There is only a small domnnd, and'buyers aro holding back expecting, prices to go lower. Now Zealand is quoted at 585.,. and Canadian at 57s'.' The hemp market is steady, and no transactions of importance are reported. Now Zealand food fair ?radc on spot, per ton, £26: Now calami fair grade, on Bpot, per iton,'£2s; fair current Manila, on spot, per ton, £25. OctoberDecember shipments—Now Zealand Rood fair, per ton,'£2s 15s. j New Zealand fair srrade, per ton, £25 15s. j fair current Manila, £24 Wo, Manila output, 21,000 bales.

The wool market is very firm. .There is a general confidence, in the maintenance of present prices -for some time, and an advance. is generally expected. „ .„ The bop market is.vory -firm, and.supplies will bo short.

WELLINGTON .MARKET REPORT. :. Messrs. Loory.and Company, Ltd., Wellington, report wholesale prices ruling on the market:-} Wheat, fowl 4s. Bd. to '4s. iOd., shrivelled wheat 45.; feed oats. 2s. to 2s. 5d.; Dun oats. 2s. 3d to 2s. 4d.; seed oats. 2s. 4d. to 2s. Bd. -.Algerian oats, 23. 2d. to 2s.' ' 6d.; .maize, ' 4s.Vld. tp 4s. 3d.; crushed'malt, 75.; fowl, barley, 2s. 6d. to 2s. 9d.;, Capo barley seed, 35.;- horse beajiß, 4s. 6d. (all 'at per . bushel); "corneal, £4 ,ss.- to £5;- flour,: New ' Zealand,•'£ll 10s. to £12; Australian, £12; bran. £4 ss. to £4 10s.. pearl barley 155.; peas, partridge 4s. 9d., Prussian blue ss. 3d.'to 55.-6 d.V fowl-peas 4s, split £17 10s.; bonednst,"£s 15s.;,supcrphos-; phates, £5- to £5 55., pollard, £5 ss. to basic slag, £4 103.; chaff, - oaten Bhcaf,. £3 ss. to'- £3 155.; oatmeal, £10>.155. to £11; potatoes, table, £4 10s. to '£5; seed potatoes, £5 to £5'155.; onions, -£7 to £8;. Japanese onions, £11 to £12; molasses-fodder,'-'£s; bacon., (factory), sides. 7Jd.; hams 3d.,' rolls. 8!d.; bntter, bulk,, 7d. toߣd. Poultry: Hens;4s. t045.6d.; ducks ss. to 65.;. turkeys, gobblers, 189..t0-205., hens 10s.. to 145.; fresh eggs. Is. to-Is. Id. doz.; cheese. 6d. ,to 6!d. per lb.; loaf. 7d!to. 7id. per lb.; Akaroa machine-dressed cocksfoot, .73d to ,Bd.: farmers' dressed sd. to 6d. per lb.; ryegrass,3s.3d. to 4s. 6d. per. bushel; Italian ryegrass.; 3s. <'6d. 'to 4s. 6d.-per bushel; white clover, 70s.'to 755. cwt.; red clover,- 655. cwt.; cow grass, 65s cwt/; alsilte.'.B2s 6d. cwt.; mustard. 40s. cwt.; trefoil 375. 6d. cwt.;'rape seed, 265. cwt.; Timothy, 32e. '6d. cwt.; Swede and turnip seed, 60s. cwt.

1 ; TEE FBOZBN "MEAT. MABKET. > (By Telegraph.—Press A Moclallon.— Copyright.! \ London, September 18, The Frozen Meat Trade Association's Smith' field market quotations lor the undermentioned classes of frozen meat are based 'on actual sales of not lesa than, one hundred carcasses of mutton or. lamb, or twenty-five Quarters, of beef of fair average quality. The quotations . are not " for selected lines, but-for . parcels fairly • representative of tho bulk of . the shipments now on tho market. Tho prices, Which follow are on an average a farthinsr per lb. more than the .value ex ehijj, this difference representing an. average cost in expenses, handling, conveyance, and selling the meat:— •,

. COLONIAL AND OTHER PRODUCE. {By Tdcs'ra'ph.—Prcfla A*rtocfntfon.~GopyrlchtJ • . j London, September 19.' Hemp is firm. October-Pccember shipment, £26. Copra firm. There is a good deraand.fonSouth Sea for the Continent., Au&ustASeptcmber shipment, £20 5.i. : 'vr-- ' Linseed oil, £27 10s. • Babbits;— There is a, brislc demand for rabbits at about 6d. advance. Hares arc a good trade, Sydney are selling at 2s. \9d. to ,3s. At the hides- sales tho-few 'offered Bold at. about &d. .advance. Basils'declined id. First Wellingtons, -16d; to 163 d., . THE METAL MARKETS v(oj Toleicrflph.-l'fctf.v *. -tnMnn.-CAptfletit.t >\ V . • London, Septomber"l9. / Copper, on. the-epot, £58 18s. 9d. per months. £59 *iss.;/electrolytic, r £6o.- . !;• ' , : Tin.—Spot, £138-2s. 6d... per tori'; -three months;? £139. 2s. 6d.' \ ' '• ■ > Lead, £12 6s. 3d. per ton. v. \ MINING SHARES. • (By Telegraph.—Press Association.-OopyrleMl •>< ••• London, September 19. The following are. the latest. quotations:—'- ' . r • Buyers. Sellers.-?';. • ' i • .; £ s.d. £ fi.'d.Waihi cr div 9 6 3 9 8 9. , WaihiGrand "Junction : 2 0,2 11::.3 V :AUSTRALASIAN XAND COMPAOT.; . * Ifly To!«kroph.—Press ■ AwuMntlbn.—Oopyrtifht J 1'*!; , ' »'■ - London, September 19.. The New Zealand and Australian Land Company has declared a: dividend of 7 per' cent., and ft- bonus of 5 per cent:, and carried the sum of £185,000 to reserve. / • The directors Dropose to increase.the ordinary stock to a million by .capitalisation of the reserve fund. '•'* ' ' : - 'ATJOKLAND SHARE MARKET.' (By Telcjtrapb.—Press Aaeoelatlonil . , Auckland, September, 20. The foHowing business was transacted on the Stock Exchange to-day:— • " 1 .V : National, Insurance {2nd call), 295. 3d. ; i- • Westport r Coal (3rd call), £6 85.i6d.~ .Wilson's Portland Cement • (preference, . 2nd call), 40s. . v', i \ : -

% Sept.'11. Septli Mutton— d. d. •'Canterbury, liffht -3J 35 Canterbury, medium 1 ..... 3J • , 3j Canterbury, heavy ..... 3 3g '• Southlands - North Island, best 1 .' 3ft ; 33 • North Island, ordinary .. 3 . -; 3 5-16 • Australian, light 11 . 3 Australian, heavy : 22 • ,23 River Plate, lij?ht .3 3 . 'Eiver Plate, heavy 11 3' ', Lamb— • Canterbury; light J...:.. >31 311-16 - .Canterbury, medium 3J 3 5-16 \ Canterbury,', heavy «... " 33 fiouthland ; : 3J 315-16 . . North Island,' selected . 31 35-16 North. Island, ordinary 31-16 3| - , Australian, best — — Australian, fair , ' Australian, inferior .......... — , — /'..Elver;Plate ; ; 2| 3Beef—'" . -V.' New Zealand; ox fores 23 211-16 New Zealjyid, ox hinds 3i 31 . Australian, ox- fores . .....2j| • 23 ■ Australian, ox binds 3J. .3* ftiver 'Plate, ox fores 23 •. 21M6 River'Plate, ox hinds i 3 5-16 3 3-16