COMMERCIAL ITEMS.

Dominion, Volume 3, Issue 668, 19 November 1909, Page 10

COMMERCIAL ITEMS.

.... INVESTMENT SHABES..- , .,;.-., "■ '■■ • Saleg of National .Bank at £6, and Taranaki Petroleum- at. 75., were recorded lington Investment, : buyers lls., sellers'Us: 6d.; Wellington TriiEt and Loan, buyers £7,' sellers £7. 3s:■ 6d.;.Feildiog Gas,.buyers SI.Is. 3d.:-Na-pier Gas, £5 paid, sellers"£l2 78.'6 d.; Palmcrston'.North Gas, sellers £8; ' Wellington Gaa, £6 15s. paid, : sellers £14 ss.;'National"'lnsurance, sellers £l'-9s. 3d.; Gear Mtat"; £4- pard," buyers £10 5a., £1 paid,, buyers-£2 12s. 6d.;New Zealand Shipping, buyers £7; TJnion Steam, sellers £1 13s. 6d:; Wellington\Wool!en, buyers £3.25. 6d.; Taupiri Ooa!,"sellers 19s. 6d.; West-! port Coal, sellers■-■ £6'.' 4s.;' Westport-Stpckton, buyora 6s. .6d., sellers' 75.; Leyland-O'Brien, .Timber,, buyers £1, 2s. 9d.; Miramar, preference,: sellera 19a.;•' New-ZeaVandr Consolidated !Dental,. eellers £1 4s.'6d.';" New. Zealand' Drugs ,, buyers' £2 6s. 6d.; New Zea'.ajid Paper Mills, buyers £1, 2a., sellers £1 35.; Sharland's-preference,;buyers £1 Os. 6d.; .Taranaki ;' Petroleum, : !!buyers. 75.;. Ward and .Company,, buyers £4. Us., sellers £4 153.; Wellington Opera House, sellers £7 17s. 6d.

'LONDON: WOOL-SALES.- •■,.'■„ The last of'tho v .6erie's.o£-LoUdoa. wool'salea begins on Tuesday,,when-,a compara!tivcly'small' catalogue will bo submitted.'- .Last year at tho .corresponding. -. sale, owing ;.to' a " largo" carryover, the catalogue "was rather, a b'ig one. The following figures are interesting:"—.. ■•"-■.. -.■..-; l - ,■•'■■'. ■'. -. .Nov;, 1909. Nov.; ,1908.'" i'. ' , ' \ -. Bales. Bales. , " New arrivals "-....•......;..::...'152,000 ;: 182,000 '■■■'■' Forwarded (direct ~^>.., . ..... 1 .; 57,000 .:. •■41|5C0'.' , .-" /,'! ' :•■"'. '■/"- ■'""• ■ 95;000 V ".1«,50I):! " Brought f0rward... : ...;.«..../. '.4,,CC0 ( ." : ."- 37.CC0-'..n -:" -■; "'"'.-•■ ,: "V,V-, 7" ??,000 : .-177.500' , ' Last year there was .-'"an!., advance, .of ..flvo"' to fifteen per cent., but .so':great an'advance can-, not -be expected this; Tear. ■'"''-'i.'-: '"'" ~;. :■■."■• Statistics, .showing .-the'; Australasian , .wool ex-: ports trom-July 1 to October 31, as compared with those for the .corresponding, peripd of'.lief year, have : been ■' compiled -.by .:.Mossrs.'..Dalgety 'and Co., Ltd. : ..The'figures:.are as under:—.•■,•!■ !'•- - - ■"-" ■;'.:■.-.:- ■.'.■■.• : -.,'M--..>.'-" i -il9o9>v-v'i ;, !»bß.' ! , •> •■" ."'.■'• "■■■ , s" '-' 'i '■"/■-!. '-.'-Buteiir..-/ Bales; > .- >•■ - Victoria ,'•:.-. .'. v :.-:...'..;; : : -■ .74,139 .„--45,040-,. i .New 50uth'"',"W!a1e3',...i;:...";....,198;7C0?---216,136 ~;• I Queensland--!'. :i.-..W...........v;'.., 76,564:,-' ! ,78,676 -.. ■■■ South . Australia.:u:,...;-..i.,...v.51,278.\ 1 .!;,51.,021'.v, . .. ■: West Australia , ...; ■....., 15,925 - 18,632 .'. ( Npw, Zealand a,.. 32,307.'.- „ , : '' '■"' #',.,.v-l-4'-^'.«^?^V*ii^iiS,t!.'-' Nearly 2000' bales -itmei .haveiJie'eri'enipped'dur-'' ing tho, four.--'months/-.and this may!be .due"'-to .Browers'-tiolding back, with a view of testing the local-market.- • Tho outpuf of Australasia is -expected- to show a substantial increase, consequently a great weight of, wool remains to bo exported; " . : Tho/'Manchoster Guardian" dealing with tho Amorican/demand and tbp ouestion of■, supplies expresses "itself as .ioHowsWust- no*, -when ■ somuch. is -oeinffVpaidAto' -the'abnormal demand;: forsjcolpnial.' wool.fffpm,-ther- United States, it'may be useful to see , how much wool during the last' two , seasons. ...has sone . from Australia to ; . the • TJiiited l States' 'and Canada. In 1907-08, .either.," from. rßo.cessity ■■ or.. prudence, Americans .'operated .with'gi'eat reserve arid took only k>s7l , bales, ■ against 136.613 for the lirevious .Wool-year. Now.it is said that tho United S,tates...buyers: in. Australia...will much as they .did two -years ago,'but granting moro-than, this,: and, supposing they take 50 ner cent: , mbro than'during'the woolyear 1906-07, their purchases will": only total .200,000, bales, -or the .amount of '.-. thot-'increaso. which may be."expected "in this year's woo! exports, from" 'Australia.'■" Nbr : -'sti'Pu'!d ; it :; bo'''for-' eotten that .-11-thp ilguree of 'the" sheep :cenßii3in New Zealand, which'have just been officially published, -may 'bo trusted,'> there will: bo' , an increase in :f.he exnorts from the Dominion ofsomething like 50.C00 bales.., From South Atrica no well-informed opinions, r'nt 'the , increase dow.S at! less' than 35,000 bales; for our own part wp nhnll bo surprised if it falls below 50,000 boles. ?he. fleuren.for the first ''oight' , months of thisyear—tho fiouth Africa:} ; wool-year, coincides with the calendar—indicato that': , , the' , 'increase ,may even exceed our expectations. It wiH b>; Ifleen, therfifpr.e, that even should the demand from the United States'exceed that of the boom yrw IW6-07 by nsniuch as-50.CC0. bales, there '.will still-.be- moreVwool.'thac aver-before to LsafWythe demands of-tho. Homo and Continental • sections ■of the trade; : ■:■■ :■'-'■■ '

•..':' COLONIAL CONSIGNMENT COMPANY. ' ■'The net profit of the Colonial Consignment .and..pistriVuting...Company,'Limited, for tho year, .ended June 30, after/ providing.,for.- interest on, debentures, and depreciation, amounted to £12,895. Adding balanco brought forward, £1661, the total availabloi is £14,556. ' Dividend on the 6 'per cent; preferonco shares absorbs "£4SCO, and 'dividend of- 4 per cent, on ordinary shares £9COO, leaving., a bolanco''of. £1056 to, carry forward. Tho report states that tho ■ decline 'in. the-profits is -not dub to', any material. diminution i.i. the - amount of business. The; quantity of frozen meat received was onlv slightly, less:than in,the..previous'. year, but'.4o per cent...of the. aggregate. arrived. in the. last quarter of the financial year, with.: tho .result that'r.iinprccedentedly .heavy- stocked wero in store, and ■ remained, unsold on . June 30. , • The market , ' during tho spring ' ar.d summer, was' glutted;'■and tno. low prices were' disastrous to' shippers. The markets for wool,. tallow, , skiriß, and tinned meats ruled at a satisfactory level, compensating to some.extent for; frozen meat.

•;■ ; BASK OF AUSTBALASIA. ' 'The Bank of Australasia held its general mcotinK in London or. October 7. The chairman (Mr. Leslie Sanderson),. speaking of the' reduction of £500,000 in the advance's and, bills receivable,,, said, the. bank, had cared .to' take> up-all -the- business "that had, been avail-' able, ,the item: might ..have, shown an , iiicreaso' instead ,of a iir.vctim. " But in somo. cases- the securities, offered seemed t0...b0.at .rather an inflated value, and' consequently the-board preferred /to ~ put' safety - in;-. front -of.: profit, only taking 'up - business which , was. protected 'by a sufficient: margin profit, to provide ;for a fall in lvalues. Thi.. most interesting /portion of, Mr. Sanderson's -remarks had relation to- the .course'Of events Sn,New, Zealand,'and the position: in Australia. Ho said ho did not think that: the financial stringency, in . New Zealand had been an unmixed' evil. „ What had saved the: situation tnero' was that the inflation of values financed , to: such' , a large'extent by the buyers ■of the properties themselves. ' They had , accumulated a considerable Bum of capital during;.tho previous prosperous years, .and the proportion 'of borrowed' money that: went into the purchasers was not excessive, because the banks and- other. , lcnderß-were- not -prepared , - to base- th'eiradyancesVon:tho inflated values, then, current. Mr. Sanderson added that , droughts and the fluctuations' in the price of commodi-' tics made: Australia and 'Now Zealand difficult countries from .a, banker's point of view to operate on. Talcing droughts, bush fires, rabbits, and other misfortunes to which Australia: was liable at'times, it was onlv the moderate optimism of the, people that had, cnabjed- tho country .to, show,, such a remarkaWo of material'progress. • Still Australians were apt to carry • their optimism too far. -■ .Hence the danger that banks .transacting.. bueines's there had chiefly to guard, against was not- to encourage., the inflation , of- valu«s when things were going well. , • The- past six years of prosperity was deserved, after the hard times from 1893 to 1903. but he hoped they had learned enough during thoso ten years to prevent any possibility of thoir being demoralised by the present prosperity. . - ■

WHEAT .' lIABKET. - ; '' . .' ■ i;-. ■_ ■-' : • ' London, November 17. : jFourleen thonaand quarters of Australian wheat, January-February shipment, changed hands at.37s. od. per quarter. . : : .(Eeo.■..■November, 18, 10 p.m.)' " ..,-.'■ _. '"-.' '■■■", ■' ■■■■'■' November "18. £ cS o ™ Am . eri £ a , n Tlsll ' le supply '." of .. wheat ie 55,651,000 bushels. . ...- -,- • • -, ; / rPBTCSS OP METALS. . r . . .•■•-■■ London, November 17, Lead is quoted! at £13-7s. 6d. per ton.. ' , (Bee. 1 fovember 18, 10 p.m.)... - ~, m, '.!■'. London, November 18> . Coppor.-The mirkot is.strong on the renewal o f fWorts that o, proposal is afoot for tho •worlds leading producers to rcgulato tho pro■i 1 lS l lfl n -*? a '™ i '> spot, £58 16s. 3d." three months, £60 IYSi 6d. per ton. ' iS i , n -r°'J J tho spot - £ 1 39 l°s.; three' montus, £141 7s. 6d. per ton. - .-' • ...Lead, £13 3s.'9d. per ton.' .. : ' . :■: ■ -.■.,;"■:■ ■■•■■'-■ ANTWERP. WOOL SALES, ; ■'' ' ;,(By Tclcgraph.-Prea'B Association-Copyright.) ■ (Bee. November Iβ, 10 p.m.) ■ ~ -.. , " London, November 18. At the AaVwerp ■ wool.sales a poor selection was offered, nr.d buyers wcro scarce: Bidding was inanimate, and price - wero five • centimes (about : one; Halfpenny); below those of. the' September sales; 2086 bales of La Plata wero offered, and 524. were.sold.. .■ ■"■■■ . ■ ■ • '.'; :■....""-- 'TALLOW.-. - ,'. .„ ' London, November i7i in a J- s, ~ ovr iA' aleß .«8-casks wero-offered, and 202,. wore Bold. Prices were unchanged. ■' . ■; HIDES. ■.-.■' -. '."-. ''•■ (Bee. November 18, 10.10 p.m.) > T • . ". i ■ ... Melbourne, November 18.' - in. v tbe ludes market suppUcs were light. There, was a good demand, and prices were firm. ." ! . ATJSTBALUN .PEODUOE MAEKETS. ,'•,' ' . . (Bee.-November: 18, 10.10 p.m.) ; - m "'■»'"-'ij , : -*.i" Sydney, Novcmbor 18. Wheat, old 45.; lid.'to-sb.,'new 3s. 10d.; flour, ,fll; _oats, Algerian, feedine-" 2s. to 2s. Id., Tasmanian 2s. 7d. .to '25.-. Bd.; barley, Capo, 3s. to 35.;.3d.; maize n 4s. 4d.,t0 4s. 6d.,'-South African 4s. 3d.;.bran, £4 15a.; pollard,. £5 155.; potatoes, "i-'Li'". . ,'"■'/'Helbourho, November 18.. - Wheats4s.-6}d. to 4a: 7d.; flour, £10 15s.;.oats, Algerian feeding Is. 6d., milling Is.' lid.; barley/ good English' malting 3s. 9d.,- Capo 2s. Bd.; make, ,3s. Bd. ; bran, £5; pollard. £5 55.; potatoes, £3 ,to £3.155.i onions',■ £6 to £7. _,' ~ . Adolaldo, November 18. Wheat, £4 to £4 10a.; bran, 13d.; poUard. 14d. ' : - v the. 0.0. and' d; , company.;:' ■ .: {By'telcEraoU!— I'rces Association.* : - ■," ■!■';"" ' ,v Naplor, November 18. .The. Colonial Coneignment . and Distributing Company, , Ltd.;, London, to-day cabled the following report on. the frozen meat- market:— :"Further,, fall- in. .values.- , To-day's prices:-Mutt-J., Canterbury, 4id.; Napier, WeUincton, and., iiorth Island,.4d.j lamb,, first "duality 4Jd., second 33d-;"' beef. ; hinds ■ 3£d., fores;-2id.".