COMMERCIAL ITEMS.

Dominion, Volume 3, Issue 663, 13 November 1909, Page 8

COMMERCIAL ITEMS.

:,y.- ■■'. INVESTMENT. SHAB ; ES. ■ . Sales of National MortEaßo at £2 18s. 6d and Leyland-Olßrlcn at. £ 1 35.-6 d. were reported yesterday. National Bonk, buyers £5 19s. 6d- National Hortgaso, sellers,'£2 195.: Wellinrtoir Investment, buyers ll;", sellers Us. 6d.; Wellinrton Trust and Loan, sellers £7"25. 6d.; Napier Gas £5 paid, sellors -W, 7s. 6d.; Palmorston North Gas,, sellers £8; \Tcllmirton. Gas, £6 10s; paid sellers *£14; Ohristcburch Meat, sellers £5- Gear Meat, £4 paid, buyers £10.55.: £l.paid; buyers £2 12s. 6d.; Meat Export, third issue, buyers £2 15e. 6d.; Now Zealand Shinpinpt, buyers £7; Union Stoam, edllora. £1 13s. 6u.-, Wellington Woollon bUVOTS.'£3'2s. 6d.: Toupiri'Coal, buyers 18s. 6d sellers 1?3. 6i.; Westport Coal, sottere £6 Ssl-AVestport-Stocltton :Coat,". -buyers' 6s. 6d., sellcrn 7s:; 'DomiKhy Eopo and Twine, buyors £1 Iβ-Leyland-O'Bricn Timber, buyors £1 35.. 3d., sol. lers £1 3s. (id. . . . v

■■■ THE SCTOTH AUSTRALIAN LOAN. '■ ' It will be.remembered that about a fortnight ago the South Australian Oovernmont issued in London a loan of- £500,000, in the form of' 33 per cent, bearor certificates. The issue was made privately through Montauue Brothers, at the prico o££loo 55.,- payable December 1, when interest commences to accrue. In explanation of this matter the South Australian "Treasurer (Mr I'cake) stated, that- an Act passod laßt year authorised the Treasurer to raise by loan the sum of £2,463,000. Sereral works authorised were now-in. progress, and, in addition there was, a considercile Biuu due for maturine U per cunt., and .4 per. cent.'Treasury-Bills.-To meet thnsc domandn, it was necessary to (to to London lor a new loaivor to try tins jiustraUas'

markets. Now South Wales recently offered a, 33 per-cent, loan locally, and be did not wish to eomo into competition with' that State. 'Aβ he. had private , information that the underwriters of Sonth Australia's last loan of £2,000,000 floated in August; 1908. wero still burdened with a considerable Bum. he did not consider it desirable to co publicly on the London market, for ho would havo been obliged to offer a loan for £1,000,000, which would have caused a general depreciation of South Australian stocks particularly those at a lower rate of interest than tho rate any new publio loan could be offered at. That the underwriters should find the ; South Australian issue bcinß. absorbed so slowly should dispel any illusion that may exist that financiers in London a-wait open-armed any Australian loan that mas come along. The ncceßfityof maintaining credit at the highest. point is so well recognised by the various countries of the. world that British financiers'now-distribute their investments much more widely than waa' the case formerly. They havo been, appealed to on an exceedingly > lame scale i durine the present year. In many instances the: rate of interest offered'.'was .4 per. cent;, and where the risk waa in the least speculative a still higher rate was available. ■'. Australia has been in the market freely during the twelve months, mostly'offering 3i'..''"per cent. .stock ■at a slight discount. Taking the superior inducements. held out by other countries wanting capital, the States cannot complain at the price they have obtained for their stock,: or the flcuro lit wWch. they, stand in the market. • Incidents' tike those disclosed, by the. ; South Australian '■ Treasurer, m connection with the .33., per. cent; issue jnst made indicate that if the same competition for money continues ui'London Stato Treasurers may have to pay mere for capital than in the past, especially,.if, :a-i seeme to bo ■: accepted, there is a. sensible' recovery in'.'trade, with, acorrespondingly greater demand for money. ■.

, .A 'JAM-MAKEES , COMBINE, i', ,-: ■/..;' According to Melbourne. advices arrangements' nave been made for converting the business of A. Hoadley and Co; into a limited proprietary company, the capital ; of which' will be about ~£60,000. Mr. A. Hoadloy has disposed of a large portion of his interest in.the business to-buyers interested in similar, manufacturing businesses throughout Australia, of whom the shareholders of H. Jones and' Go., Ltd., arc the most,prominent. Mr. Eoadley retains an ■ interest m tho company, and the business will undergo practically no change in management, being continued with the existing staff in the same premisca and with tho same brands aa heretofore. An amalgamation -is also under consideration of the various interests controlled by H. Jones and Co., Ltd., of Eobart, the Australasian Jam Company, Ltd., of Melbourne, and tho Peacock Jam Company, Ltd., Sydney.- It is proposed to make provision for a' liberal allotment of shares to storekeepers and. fruitgrowers, thus-affording them an opportunity of investing in. the concorn if they deeire to do so. To effect this object 'the present shareholders are prepared to dispose of one-half of their interest. The contemplated amalgamation, if successfully carried through. wiU be one of considerable magnitude, tho number: of employees in tho factories in the Commonwealth being about 4M0."

Onstoms revenue collected at Wellington yesterday amounted to £1514 12s. Bd. ■ ■ ". : ! ■ \ ' ' •,'.' / ''J "..' WELLINGTON JtAEKET EEPOET.. ''.. ■•". Tho New Zealand Farmers' 00-operativo Distributing Co.; Ltd., report as follows s-rMaize, 4s. 3d.; wheat, whbie fowl, 43. lOd. to 55.; barley. Cape socd, 3s. 6d.; barley, feed, 3s. per bushel; barley meal, £5 per ton; oats, 2s.- 3d.' to 2s; 6d. oats, seed Sparrowbills, Gartons, Suns, 2s. Bd.; Algerian,. 2s. T 4d.; oats, crushed, 2a. -7d. per bushel;/horse beans, -4s. 6d. per bushel; partridge peas, ss. 6d.; Prussian blue peas,, ss/ 6d, per bushel; hay, prime, £3 to £4 per ton; straw, wheaten, £2 55.; oaten, £2 2s. 6d.; bran £4 to £4 ss:; pollard, £5 to £E 55.; sucrosiao;' 200's £7, lOfl's £7 ss. per ton; superphosphates,' beßt, £5 per ton; ryegrass, dressed, ss.' per bushel; cocksfoot, dressed, Bd. per lb.; linseed oil cake, genu ine, £13; prime oatensheaf chaff, £3 to £3 55.; new potatoes, £10 to £12 per cvrt.; potatoes; old. £4 10s to £5 10s.; : selected Canterbury Up-to-T)atc seeds, £5; omons, Melbourne, £11 per ton; butter, separator, B}d. to 9Jd.; dairy, 7d. to Bd. per lb.; eggs,- fresh, Is, .to Is.' Id. per , dozen, good 'demand; honey, M's 33d. to 4d., 14's 41d.; beeswax, Is. 6d.; fungae, 5d.; walnuts, sd.- to 5Jd. per, lb.; oheeso, best factory,' medium, 53d. to 6d.; bacon, factory sides,.Bd.; rolls,S9d.; hams, 9d..per lb.; porkers, 70' a.to 9oV«Jd., 90's .to lOO'e. 4fd.; baconers, , 4d.; heavy piss, 3d. .per lb.; green peas, 9d. to Is. 2d; per peck; cabbage,'7s. to Uβ.j'parsnips, te. .6d.; carrots, .table, 2s. per sack; marrowo, 4s. ■ 6d.; cauliflower, . 7s. -6d.; pumpkins, 10e- per sack.; swedes, 40s. t0.505. per. ton; rhubarb, 2s. 6d. to 6s. 6d. per dozen; asparagus, 4s. to 63. per- dozen bundles;' cucumbers, "S3..'to 7s. per dozen; tomatoes, 9d. to.iß.' : per" lb.; gooseberrips, Bs.: to \ * Bβ. "• 6d v per hall' case;..apples, .;dcßsort, 155.; , . apples)'/cobEer's,' 'Ms.' 6d. por .case; poc'.tryi table, rooeters, 4e. ,; -'6d'; to.,s3.;;.cockerels, 55.. 6d. to. 6s...6ij•.'.table. , hens;4s. 6d, toV6s.; dacke.'i 75.; eecce,. 68i• 6d.i'.all at. per pair. ' Turkey gobblere, 9d.; h'qns., Bd. per, ' ■■;':,:'. LONDON. MAEKETS..:' , ; . '.-' ' Mescsrs.. Dalgety and Company, Ltd.,. roport having received UlO following cablo • messaße from 1 their-London house, under November 11:—Frozen Meat; Beef and lamb,we in' fair demand, but the demand for'mutton Iβ limited. Tho market .is firm for all descriptions.; Quot:v-_. tions are as 'follow.—New: Zealand i : prime oxbeef (fores), 3Jd.; do: (hinds), 3|d.; .New Zealand prime '.crossbred lamb, Canterbury, .heavy, ',4id,v do., light, 48d.; New Zealand primo crossbred lamb, North Island, heavy, ,4d.;. do;, light, 41d.; New- Zealand primo crossbred mutton, Canterbury, heavy, 4d.; do., lieht,"4id.;'Now Zealand prime crossbred mutton, North Island, heavjr, 38d.;;do;! ; light," 44.,.: ' ■'■"•.■;.•■".« ' ; •V; ; '