COMMERCIAL ITEMS.

Dominion, Volume 3, Issue 680, 3 December 1909, Page 10

COMMERCIAL ITEMS.

■".V': : ■.; ■-; '. ' INVESTMENT ■ SHAKES. ."'. '''■'■ \ 1 A sale of . Napier \ Gas, £5 paid, at .£l2 ss. was reported yesterday. National Bank, sellers £6 Is.; Bank of New Zealand, sellers £9,155. 6d.; National Mortgage,' buyers £2 18s. 6d.,'sellers £3; Napier Gas, buyers £12 2s. 6d., sellers £12 75.'6 d.; Wellington Gas, £6 15s. paid, Bollora £14 55.; National Insurance, sellers £l-Bs.;'South British,-'.• buyers ;£2,125.. 6d.,"Bellers ,-£2 . "14b.j Ohr.istchurch : Meat, buyers £10 165.; Gear. Meat. ■£1, paid, buyers £2. 135., sellers £2.155.; Meat Export, third issue, buyers £2 ■ 155.; ; .rWelling,ton .'Woollen, buyers ■ £3 35., sellers £3-4s. 3d.; :Eikurangi Coal, buyers' 19a. =6d.,'sellers £1 Is.; Taupiri Coal, sellers il9a. 6d.; Westport Coal, isellers*£6 4s.;'Manning'and Oo.,.buyers £3 165.; •New: Zealand Drug, sellers £2 7s. .6d.; Taranaki -Petroleum, sellers Bs.;.Ward and Co., buyers £4 125.; Wellington Opera House, sellers £7'l7s. 6d. : ■ ; : ;.; ■■ .; 1; :-.- ■•;:':.. ■ " -' : 1 :■: :■

/« ;|' i; J .; / cbAL'TEADB:TJNEEST./-,:" : , ':?! vUnrcßtia tlid co.al.trade. is; not confined" to Australasia, for Groat Britain -is .now faced with a great-industrial problem in connection with' that' mineral. . The trouble is due to the introduction of the eight hours.law, .the-cEect that lcgislatipn liaa upon the cost of production; and consequently.upon the Belling price of coal. The iaw does riot come into oporationvin tho Northumberland, and Durham coal-Holds until January ;1 next, .but it already applies to other areas in »the United Kingdom. --The ActVwas never desired in the North .of -England, where the minors as a'body have not for years worked as 'inuch as eight hours a day; -To enablo Bhifts'to be .dovetailed, , .a; few. men are kept at work -for more ; than this: time in border to have tho.way prepared for tho succeeding shift. These fowvmen get extra pay and have longer holidays,, and the whole body "'of minors was. quite , content with this Bystem.- Under the new law.i however, this arrangement must ■ termih,ate,;as it'is, , illegal, for workers of. this description to remain -below than -oight hours- in 'any, •■consecutive'.'twenty-four hours.: Thua the hewers of coal will have to .work, the;;full'eight .hours in-.order to mako thoir. present .wages,- which are ..earned in' six or-.seyeri-.'honrsi ■ In-South Wales' the effect ofthe ! ne;v .law is..already distinctly seen- in tho reduced output. : which is attributed to the Act in-regard-to 10 per. cent, "of the. shortage. This means a : permanent addition to the cost of production,, as' the: administrative charges arc the samo.for'.' the smaller as for the "larger output Not -only will, this affect other industries .in wluoh coal is.araw material, But , in dull times tho export trado in the mineral itsolf will suffer. : The outlook la , '.not :oric6nraEini!'in either hemisphere-, but donbflesu a solution. will- bo found in both instances after suffering has been inflicted'oni'many innocent-people. ■;' ■•■.',;'■:<■'■■■' ■■■':l.'i : ' : CUSTOMS >i ,'.■■' ," Customs revenue collected at: Wellington yesterday .amounted t0 : £4296,75. ; .'. ; , ''-.: I .(By'i Telecraph-Press.' Association.) -. ='■-.' ■■":■:■.'}■■ New Plymouth;"December i'. -.■<Tho.'.-:'. Customs, revenue- ' for... November amounted . to ~£3538, 'as' against &U!>l'' in ■■No-' vemberi ,1908. ' ; , . :• ' • .

■'•" .:;;,:!. RISE; IN .CONSOLS. ' '.- (By- , Assoplation.-Cdpjrljifat.),': ." ';'.". ~•'. v (Kec;'December- 2,^2o : p.m.)'.■■■""'•;. ,: '■■' '■'•: " . .'■ '.'. London, December 2. Consols are nnotedat £82 18s; 9d.,- a riee of Bs. 9d. since last week/ V ;■-.•. ■•.,. •'•-,: - .: |i- -':'''■:'■■': :-'V\ WHEAT. . .; : . .-, \ . /By .Tclesraph.-Prc3s.-Afliio(!latlon.-ooDjrli:hi;i ■:--■■: '• -, (Bjc; December 2, 9.20.p.m.) ~ •■'' ''■'■• '■:"'.'*■.'■!'■'. : .'■ : ■ ' ■ , London,'.December- , 2.:\ The 'American; visible'supply ol , is 60,134,000 bssliel3.;> .;. ■■A^- ,.'-. : \ :;:,' "■:, .■•;'', •;' .o ■v-'.--. .';'' '!i .' THE ;JDSTAL MAEKETS. ! ; \i\ ':'■' :[tll7. xolccrQph.— I'roßß Anflitclntlitn —Oonyrfctit I '' . '.■>.■'.■' ■• ■'■ '■'. '■/■'.' ' ■*■' London, , December' 1. -. f Oopper.-On the'spot, £53 IDs.,'a: rise of-7e. 3d.; '.three months, £69; .Us., 3d., an increase of .6s: ;3d. : i'Tui;i_g n the spot, £142 10s.,'a 'rise' of. 203.'; three months, £I+l, a rise of. 12s. 6d. , .".■■.' ', Lead, £13 la. Hi, a Heo of le. 3d. <:. :■ ■.• •■' ; • Silver-is ; quoted at. 23 9-15 d. per ounce standard.;:-" '..-.'.•.' ':;.'"■■'.: ■'-.■: ■ ■'■:.:-.■■■. '"V ', -<'. •' ' ■■:.'■ '-i ): (Eec. December 2, 9.20.p.m.) ' ■ {•" .: '.. , ■ ... , London, December 2. . ;Oopper.—On ,the spot, £68 2s. ii.;. three months, .£59 Oβ.; "eleotrolytic, £61 6s.\per 'tori.'-. '. -. ' •■ Tin.--On the .spot, £143 7s. Jd.'; three months, £145 ss: per ton. •:-, < .-•■ : , . ■' .. ' . v: : Lead, £13 2s. 6d.,por ton. ••;..■-.' ■-;.. ; . /■. ~. "■ ...-•", ■'.''.'■'■'■' !;S; ;i TALLOW ATDOTIONS. ' '''■;■' ':' '■' ■'.*' ; .'• At tho-taUow:sales, 1191- casks- were offered, and 428' sold, at 3d.-.to 6d. decline, except for ei>6i Sue.., :.:-.'.'" ' : i,V\ i-.-. ■■'■ • ■'•.,.'. : , : ■ - ATJSTJIALL4N; PEODTJCE MAEKETS.' ; ; (By Telegraph—Press,' ,-.::,.;, .: (Eoo.'--Decembpr : 2, il-15'p.m.) ■-'.',.. ,' ; ,'' .-• ■:'■'■ ■'■,':>".''■":' ■ Sydney,. December 2;-'!. ■Wheat, 3b. lid. tb : 4s. Flour,.,old £11,.n'ew £10 10s. Oats; Algerian feeding'2s. to 25.'1 d.,; Tae-. manian 25. : 3d. to 2s.' 6d. -■ Uarley,, Cape 3s.:to 38. 3d.' Maize,-4s.'2d. to" is. 4d., Bouth'-.African 65.. Id.: Bran; , £4 15s. I'ollard, ■:■£& 55..', Potatoes,' £6 to £7... Onions,;£s.to £6. Butt*, 965.- Cheese, 61d. to 7d, ::i)acon,' 83d. ', ■■.'. ', ,'-i;:,-.:. ■ :. -.■:'.'■■ i'- ■ i '■"-■:,■■ "V , .Melbourne;- December: : 2:- I '' "'.' Wheat, old'4s.-56V to 4s: SJd.,-new. 3s.'Bd. to 45. , Id.- l'iourr'£lo' 10a. -Oats, Algsriah.'feeding Iβ. 9d., milling Iβ.; IOJd. • Barley, English malting : 3s. 9d., case 25.:-od. ■ Maize,. 3s. - bd; "Bran, fid. Pollard,-£5.155.:; Potatoes, £2. t0,£2:155.: .Onions, £5.' ■'■ .'.•»•.'■.•:;;:■'•" ■, ~'.:■;- -, .■.',..• -,• <;>■ ■■; ;■'■. :■■■■ : ■''■-■.:■-•".■■ ■: Adolalde, December." 2;.;: . Whoatrfe-Id.' to'4s. 2di Flour, £10 10s. IBran,. "13d. , Pollard, 14d, , ■■■.■-:, '.. . '„•■. -.■■•;.■.■ ■" ;'... ■■. '

■:'■ :. ,'■' /. HIDES .MARKET. ' .:" ■. "■.","," :■ '■-■• ■ : /;.-■:;.■ (Kec. ; December 2,1U5.' p.m.)./.; . : ; : ■: ."'. '•■': ■ ' ■' "'■'- 'Melbourne, December .2. ■-. the hides market there vas.'-a email supply, with a keen demand...Prices iwere flrci.;., : ( . • "■."'■' ■'^ : ' : " ; ''WOOL;SAtES. :; V./ : v.:\ ••■ • '>. ■{■ THE "WEIiIJNQTON., SALES;. • ■■■:■■'■' 'TSo-second ■sale, to- be, held :by'.Wellington. broKora will begin~at'9 a.m. torday, wheii:soino, 11,000 halo's, will bo' offered.- flood wools' aro .ox-, peeled to sell'well up ,tp the ratesv ruling:-in' Novetober, "and eoinc anticipate "an 1 , advance on special lines. The success'-attending Anstrala- - sian- wool sales' is' , not; viewed v kindly.' by the trade in Loiidpn:.' Thus,':'in ."the "Economist" of October 16,' a correspondent vfylte'ii:.;"Por months past it has been obvious , to experienced,traders that' operations in the , Australian and New Zealand markets, during' the ; present ' season' would be IraUßht with: great danger, to buyers. The market for colonial,.wool has been in an exoited*" Btdto for a long time past, ■ and .values .at -the last auctions in Coleman; ; Street were, in the opinion.; of tho trado,: pushed up to' a -very dangoroUß - height.' Tho'. Australian' selling season .was supposed (to. open in', Adelaide on September ,23, but ns a matter : of fact the old order;lias , changed and given , place to now, for beforo that date about ICO.OOO bales of-the early-shorn Queensland clip had been re-alised-by. the growers inthe Brisbane -Sydney,, end Melbourne markets. .. Thcsp markets were' qulto as excited as thosa" in London. Bradford; or even Boston; tor not .only were West Hiding and Continental firms represented in these colonial markets,' but almiMt .for .the- ilra't:. time these Queensland clipr wcro so well grown and in such excellent condition that they were.found to' meoi the requirements'*of,' the: U.S.X ■ tariff;, and operators " from across the Atlantic" pur-V chased. vory : large quantities at not merely extromo. but record, prices.' It wao .under such 1 conditions/that the first sale of tho season 'took place at: Adelaide. -. Values wcro fully, up toctpQctatipns,: and wore qulto .on a par with those obtained at .tho;. correapoudins auction in 1007,' when buyers Buffered such enormous, losses: It waa evident tliat wool was very , :'dear,' "and therefore very dangerous. The sellers.and not tho ; buycrs were . to" be congratulated; Under thoVmost: favourable ■circumstances, -it v;as impossible, for them "to makp , much'•-prouV.il any,- whilnt with the slightest - chock- to- tho demand at. the. consuming ~end, they -ran ■ the.-rljk: of, making "serious, losecs. . Another source oi

danger! was the condition of the money market, lor was;so dear tlitvt it could hardly become' dearer, money: was so cheap that it was impossible for it to .go cheaper. It is| obviously very hazardous to: buy very dear wool, in oversea markets on credit whon monoy is very cheap, and have to meet, the ;drafte '.drawn against . these purchases aftor money had become much dearer." Notwithstanding the advance .in the. money ' inarh'ct,' foreign buyers have been operating in the Australasian; markets, and paying high prices foi the etaple, and it is hard to believe that theso men are unable to closely estimate the prospects. There is, undoubtedly, a Rood consumptive demand for wool, and although supplies are larger than in the last season, values seem likely to be well maintained. '.LONDON PRICES FIRM. AND" STRONG "•,.'.. . "GENERAL DEMAND.. IBj : Telcarapji.- -Prcaa ABanclnllon.— Copyrlchl.l ■ . (Hoc. .December .2, 9.20 p.m.) ' ; London, December 2. At the wool sales, prices are firm, and there is a'strong demand for all sorts. . . CO. AND D. COMPANY. ' (By Tolccraph.—Frees Association.! Napier, December 2. • The CC. and D. Company cables the following report:-"The frozen meat market is weaker ow■ine to heavy shipments arriving and afloat, principally from Australia.' and the value of mutton and lamb has fallen in consequence. Quotations: Canterbury mutton. 4d;; 'Napier, Wellington, and Norffi Island, 33d.: Lamb-First quality, 4d.; second, 38d. Beef—Hinds, 3Jd.; fores, 2Jd."- .--,.-