COMMERCIAL ITEMS.

Dominion, Volume 3, Issue 641, 19 October 1909, Page 10

COMMERCIAL ITEMS.

■•■■■• " " INVESTMENT, SIIAREB, ;. •■•• . .A talo of Napier Qua at .£l2 ss. was the 'only transaction recorded yostorday. ,1 National Bank, eollora £6 Os. 6d.; Bank of New Zealand, buyere £9 7a., Boilers £9 10s.; Wellington Investmont, buyers 115.,: tellers ■ lls. 6d. j ■ Wellington. Trust and Loan, buyers £6 195., sellers' £1- 25.; Feild, iOK Qos, buyers Ms. 3d.; Holtitika' Gas,. sellers £5 155.; Palmeraton North Oas,. sellers- £7 »s.; Wellington Gas, now issue,' buycra\±'2 25.. 6d. premium; Ohristchurch' Meat, buyers.V£lo 12s. id.; Gear Meat buyers £10 55.; .Moat, Export, third iEßue, buyers £2 145.; Wellington-Woollon, buyers £3 la. 6d.; Hikurangi Coal, buyers' 18s. 6d., sellers 205.; Taupiri Coal, sellers 19s. 6U; -WestppH Coal, sollors £6 45.; Wootport-Stocliton, buyors 6a. 6d.; Donaghy Hope ana' Twine, buyers 2la. 6d.; Loylancl-O'Drien Timber,'buyers Hi is., sollors £1 35.; Now Zealand Consolidated Dontal, sellers £1 'Is. 6d.; Sharland's. ordinary, sellers. £1 Os. ■ 9d., preference, buyers £1 05.,6 d.; Taranaki Petroleum,, buyers 75. ; 9d... sellers ts. 9d.' ■ ■■■■ ■;■■■ ""..•.-"-• .' ,

: FEOZISN MEAT MARKET.'.. - .. ; The rapidity with which the' quotations for • frozen mutton and lamb have risenVffiyes riso to the opinion that tho big dealers are Rambling on tho prospects of an immediate rise. Tho shipments afloat are believed, to be comparatively small, and it must bo. some weeke' beforo Now Zealand can-become-a-factor in-:tho situation. Australia is probably able to send ship. ■ ments almost at once, but in any case meat from this end cannot reach the Smithfield market for two months, and it is the immediate prospectß that have brought, about, the-advance. Meat has been soiling at very low prices,.and this has stimulated consumption, but a check 'must now 'bo imposed,. for it; is hardly likely, that consumers will bo able to pay the enhanced prices which in tho case of New Zealand mutton amount to Jd. per, lb. on tho average,and 1 l-6d. per lb.on lamb. To this must be added the profits of tho wholesaler and retailer and the 'distributing charges of tho latter. ■ Mutton and lamb must be very high in England during the next few weeks if the speculators are to come out of the gamble with profit. The hbo. is so largo and has come about so suddenly that a reaction is'inevitable; at the same time it is safe to say that values will not again drop to tho level, from which they have just risen. It will bo to the interests of the speculators to maintain prices, and shcepfarmors "may certainly look for a better range of values than was current say a fortnight ago. This movement illustrates the difficulties of dealing with tho.frozenmeat trade. In July and August the market was troubled with a-glut, now there is every prospect of a shortage., Such of the; New Zealand companies .as ' happen.. toVhavcinoat .on the.London market Just-now, must do we 11.,:. The:advance''recorded'4s equal,to 45...1 d,' per head of sheep, taking,the average carcass; at 561b;. and'Zs. BJd. per head, of Jamb,., taking tho carcass at an average;, of; ,281b. Stated in another way, the advance is-equal Ho about Bs. Jd. per cwt. of mutton.';and 10s. lOi. -per. cwt of, lamb.■■.' If this.,advance, can. be 'maintained throughout tho season, and our, shipments .are' 03 large ; ; as they' wero during 'the past twelte months the ; gain 'to- New, Zealand:-would.be—- . • ■:, . '•--/■: -.'■'- :te»~:'{..iil v ': ■ Oα mutton/...:..!..:...';:..:.:::..:..:.... ,3?4,«!U 7: 6/. ■•' On''■ lamb 1 ,;!'......;;,;..'.....:.-.....'....^ , ... .646,976,12. 6; ■' ■ '■;'. yi''!'-V;.:-; '-H/.1 '-Vi - .£941.(i70/> ;-V',-. \ Such ansaddition. id' theviocomo "of, the .farmers in a year'Vrobld-'bo productive of much , , good,' but to'expect such'.-an. increase/ under'thei-.cir-. cumstances,y':is :. ,v. . , •■ : >■ : ',-" VOTW.tcoAL'ooiu'ANr.'', '~;; < -,;''' :- The Waipa ,; Eailway and Collieries,. Ltd., is bo-i' ing formed in Wellington for the purpose of aeQUirins and working ■a- coal spam, in', the Wai-' kato district; of'those, interested in.rtho project; 'including Mr..IF: It.: flannay (latp general manager of'the 'Ha'nawatn railway!,, who. is the intorim, managing! director; recent)} - visited tho 'properties;': and Vwerd much' impressed l with the' possibilities -.of-, tho .undertaking. ...The' main coal seain'.is'said' to beupwards of : eleven; feet thlckwanda largo output tan', bo maintained for'a. very • (obg. time. Tho coal, 'it ■ is:'claimed, is eminently 'suited, for, household ■•;, use, arid-'is also- good for,; steam and,-producer .'gas purposes. .A railway of about Bii railes'ln length',' to junction;.with\the Main, Trunk .linei at Ngarimwahin, will, bo' constructed ; to 'facilitate tho distribution , , of-the coal inUho Taranaki-Welling-ton districts'.'.- '. , ■','■' ■ .-' , ■'.''"-

;' : 'ATOTKALI/VN-OWNEp; VESSEL?. '-\' i■'";. - A stalchient has Ticcn prepared showing , tho number''and'tonnage of vessels:'on' tho : rcgis' the various States ofl'the-Comttbnwbalth , .' New Zealand, and New Guinea. It is.romart able in this connection how Tictorla-keaps fore'srouud:.'Though tho actual number, of yes ■ sela is , ureatar'.in .Hew: South' (Wales, thp-.ton-. age ie much: erenter: in: Victoria, as far'as steamers 'ore. cpncprned.'.--;The, -position.us reverfibd in - rolntion to sailing vessels. The fol-' lowing ;is ; thp'statement referred : to:- ■ ,v ': ■:. ■":;/■.•■•''.<■';■ ■.•''•' 'Steamers. ,, '.Sail.'Vesssls.'- ■ Statc.'i; •: .. ;, i-No.'. Tons. .v'No. ...-Tons ; Victoria, i;,..... ....:... 169. 104,107- ; £07, .33.ML New South' Walea ....'..i 538 76,065 's« : '*B2,Hd'.' Queensland- ......■.....„....'.-»•■ '15;7K"-\ 204 * 9.119' Soutli' Australia ......;.. Ul ".-41.861, 2« 17.952. Westoru Australia ..-.,'42 ■•-11,847 358 9,154 Ta5mania;.;..:...'...'...!.:;.:...: 57,. • . 8,695•-.-. 166 ..- 8,612 • Total 1,016■ , ':'253,3<0 ;i; 'i,733 ' 130,604'' Now' Guinea .'. - —' 1 8 Now; Zealand 270, ' 97,158" 369 46.1C0 : Total '•'..'. 1,!8S 3:5,«8 2,103 177.072 Compared with 15C7, steamers "owned in Australia and Now Zealand .havp increased by 35 in number and 32.0C8 in tonnage,- and eailini; vessels by 35 in number and 3707 in tonnage. INSDEANCE COMPANY V AND AfIENT. A case' inieresting to insuranco pen, in which one of the iiarUes was »n .'Australian,office trad-, inn in the roccptly camo-nn for,hearing.id , ,the'-'City.of Court-. - Tho: National' Jlutual Life 'Association''' of' Austral' lisia defended- a. claim for'commission on' the part of qno of its agents. The amount involved was a trifling 'ono,.bflt. the .office considered that ; there was a.• principle-, involved. It ■ raided tho -question'of'its liability under. the Prevention of- Corruption "Act. 'and. explained :through its counsel jhat-it wanted "judicial guidnnco for futuro dealine3.";havirig-regai;d to tho fact that under' the' Act' its olUcera miSht hecomp ■ liable to two years' imprisonment. .Briefly;'thoso were' the fact , !: An a'gept, or inspector of agents, had a case , .througha sub-agent for £2C00;. and, calling on the-'proposer, he persuaded 1, himvto'ln--crocso it to £3C0." ■It wmUd appoar- from the term? of- plaintiff's appointment that ho thus earned an overriding commission on tho case (in addition to .that paid.-to ' the-'sub-afeent); but , tho .defendants snbmitted .that'if :nn agspt received more than tho usuol commission without the knowledge of tho assured, the company would be liable for paying a secret commission.' ''Counsel on their behalf .wont,so far aav.to contend -that ■ the plaintiff -'was ."agent■ ,of,;both the assured and the company. The judgo, hOw-over,-held-that everybody who . insured ■ knew that- the aerent would be paid , a, commission, and what did it matter :to him whether it was £lM>er ccnt.or £2 percent.?. Jndcment was given for the plaintiff.' In insurance circles in Encland it appears to bo the general opinion that the decision squares with equity and common sense, and that it-would have-been- impossible to carry on-life assurance work through agents any longer had the contention of the company provailed. ••-.... '

i Customs revenue- collected at Wellington yesitorday amounted to Wl 4a. Id. , . 'WELLINGTON ; : . ' Mesßrs. Laery" and Ob.,' Ltd.', Wellington, re-' port'■ wholesale prices ruling on the market:— Wheat, fowl, 4s. Sil. to -Is, lud.; ehrivellcd whbat; 45.; l'ecd bats, .2s. to.2a. 6d.;dun oate. 2s. id. to 2s. Ifl.: seed oats,, 2a. 4d." lo 2s. 3d.;' algen:in oats, 2s. Zd. to 2s. id.; make, 4s. Id: to Is. 3d.; crushed malt, 75.; i'oi7l barley, 2s.i4d.'to 2s. 6d.; Oape barley.seed, 2s. 6d. .to 2s. 9d.; flour, Now Zealand;£llss.' to£ll-10s.;, Australian,£lZ; bran, xj las. to ii 4; ."pearl-barley,' Ijs.;,'.peae, Prussian blue, • 6s. : ' 3d. to sb. 6d.; fowl-peas'. 45.; split, £17 10b.; . bbnedust, £5155-; superphosphates, £5 to £5 ~ss;;'. pollard, £5 to £4 10s.; basic ; ■ Blag. ■ .£4;. .10s.-;--. .chaff, oaten-sheaf, £3 ss. to " £3,'.158/;': oatmeal;': £10 -10s.'-. to £11; .potatoes, table,:£3 10s; , to- £4 'lOst; ..New Zealand 'seed' 'potatoes,' , Up-to-Dates;""'£4 ss. to £4 10a.; Japanese onions. .i>l2 lus.'to £1J 10b.: molasses . fodder. £5; bacon,- factory,... sides, 73d;:' hams', Sid.: rolls, .■ BJd.; ■ butter, ' prime bulk, Bd,' to-BJd; Poultry:. Hens, 4s. 6d. to ss. 6d.; duclss, is. ; to 7e.; turkeys, gobblers 163- to 205.; hens', los. to 145.; .freah; eggs, .Is. -dozen'; cheese,'6d.'to.CJd. per lb.; loaf,- 7d.-to'7Jd.'-Der lb.; Akaroa machine-drcsfed cocksfoot, 7}d. to Bd.; farmers' dressed cocksfoot; sd:'to 6d. per lb.; ryegrass, 3s. 9d. to «6. 6d..-per bushel; Italian ryegrass. 3s. 6d. to' 4s. 6d. bnshel;' whito clover, 70s. to 755. cwt.; red clover, 755.' cwt.; cow 755. cwt.: alsilio 825.. 6d. cwt.: mustard, 40s cwt:; trefoil, 375. Od..cwt.; rape seed, 265. cwt;; timothy,32s. 6d. cwt.; Swedo and turnip seed, Ms. ,to 60b. owt. ■ ' ■ ' . •:' "-

■ •' PALMERSTON MARKET REPORT. ; Harry Palmer,- of Paimcrston' North,, reports fair entries of both pigs and poultry at his sale on Saturday. The bulk of the piss offered were wcaners. and. of these, the best quality realised good prices, quito equal to provious quotations. Only inforior lines showed a decrease. There was also a good demand for all lines of porkers, s and a Ueon demand for all lines of poultry, > and vendors who' arc keeping back entries for show week might find it to their ndrnntAEe not to hold too long, us prices are better noir than they will be three weeks hence. Tiere is «. f«ir demand for produce, more particularly 'or rood poUttees, cftbbnie, oxulifioveri, rkno«7b, and asparaffue.. Quota-tkae:-Pl*ii: Wwiere, 7»., 7». M., Ja., lla. 5U., Mi., Hi. Ja.. lit., to I 5«.; alipe, Hj., 17t. (d., £1, to £1 11. fd.; itorae. £1 Iβ. to Si-It.; light pork«r., £1 29. (i.. £i Iμ. U.. to £1 4c; icayj da., £1 6j., £1 d., to £1 "t.i turkoy loblilort, h. anil 9a. 3d. each; bcaa, fa. id. to 7a. id. eacli; imoo, 3i. (d, eaci; ducks, sb. to is. M.pcr pair; ieis, Xs. (d. io Ss. M.; cockerolj, half ttorta, 3b. to «s.; priee do., ss. to 6s. 6d.; duoltlingo, just out, 2s to is. Jd. per pair; half-grown, 3s. to <s-; "chicks, ,Iβ. (id. to 25.! asparagus, , 7s. to 9s. per dozen; rhubarb, 4s. to 6s: per dozen; prime table potatoes, 9s. to 11b.; pig do., 2s. 3d. to 2s. 6d : mangolds and Sweden, Is. 6d.; cabbage, 3a. to 4s. 6d.;. caulillowcrß, 3s. to. 55.; whoat, 165.; oats, 125.; chaff, 2s. 6d. to 3s.' 6d: ' COLONIAL AKD OTHER PRODUCE. - (By Telegraph-Press Aseo'clallon-Oopyrlßht.l ': ' ..■'"■.' : London, October 17. Copra.—Good demand and fair business.-South Sea in bulk and bags, £30 12s. 6d.' ; Cotton.—American ■ is quoted .in Liverpool at: Octobor-Kovcmber shipment. 7d. . .. Wheat-Eleven thousand five hunted quartern of ■ Australian .December-January ilupment sold «tjto 7J4, ;.: ■ ■ ; • •; .- ;■■•■• ■ ■ ■■-

Babbits,—Market firm, "largo Sydney's, 16s. 6d. to" 175.; Melbourne's, 15s. 6d. to 165., ex store. lUres.—Market-rather easier at 2s. 9d. to 3s. Eabbitsklns.-At tho rabbltskiu sales 2970 bundles offered and sold. All well-furred have advanced throe halfpence to twopence i-kittone and light Borts,' a half penny. . , . METALS. ;•',. ' . ' . London, October 17. Ooppor.-Electrolytlc. £59 125.. 6d.. Tin.-On spot, £139 2s. 6d.; three months, £140 12s. 6d. ;-.-.' ■ HIGH COMMISSIONER'S' CABLE. The. Commerce and Tourists Division has re-, ceivod the following cablo from tho High Commissioner, dated London, October 16:— Tho mutton raarkot is firm. There is a largo speculative demand, and prices have advanced. On account of email shipments, expected and stock being reduced; the market is .'temporarily excited. Holders are firm. Canterbury, is quoted at 4Jd. per lb., and ■. North Island at 4id. pcr.lb.Similar remarks can bo applied■■; to'-"lamp.-Canterbury is quoted at 43d. per lb., and North Island at 4Jd. per lb. '■:.'■ _ •'• The beef market is weak. Supplies of Eiver Plate beef are heavy: New Zealand hinds' are quoted at 3Jd. per lb.-. and fores at 2|d. per lb. The butter market is quiet, but firm for best quality only.. Australian, , this seasons. IB quoted at 116s. per cwt., choicest Now Zealand at 118 a. per cwt., Danish at 1325. per cwt., and Siberian at 1076.' per owt. " ..'•■' The cheese market is ■ 6tcady, hut- demand only moderate. New Zealand (a small supply) is..quoted at 575. per cwt. ' ; ."'-■> The hemp market is steady; OEd there is no change in prices. New Zealand good .-lair, .on spot, per ton, £27 155., New Zealand fair grade, on sj'Jt, per ton, £26 155.; fair current Manila, on spot, per ton, £26 15s. .October-December shipments, New Zealand good fair, per ton, £27 10s.; New Zealand fair ' grade. £26 ,-Ms.;. Manila, fair current, ,£26 10s. Manila output, 32,000 hales. It. is reported, the American market is firm, with more inquiry for Manila. The r«nl market ia- quiet, but firm.