COMMERCIAL ITEMS.

Dominion, Volume 3, Issue 689, 14 December 1909, Page 10

COMMERCIAL ITEMS.

i; '■ '■.. .'.;■ \ 'SHAHES. - V '■:No transactions took' in:-''investment ' shares yesterday—the usual feature. on-Monday. 'ITiero wore comparatively . few quotations. National Mortgage, buyors £2 18s., sellers, £3; New Zoaland; Loan and Mercantile, nellem 45.; Wellington Investment, buyers 11s. i Wellington Deposit, sellers. Bs. 6d.; J'eilding Qas, ; buyers 21b. ; Napier Gas, £5 paid, buyers £12; Wellington Gas, £10 paid, buyers £17 Hβ. 6d.; Hoiith British. Ineurance, buyers £2 13s. 6d.; Ghristchurch Mont, buyers £10 18s.; Heat Export, third issue, buyers £2 153. 6d.; Union Steam, sellers £113s. 6d.; Woßtpqn Coal, sellers £6 4a.; New Zealand Drug, buyers £2 65., sellers £2 7s. 6d.; Sharland's ordinary, sellers £1 os.9d.,'preference,, buyors £1 os. 6d., sellers £1 Is. 6d.; Ward and Co., sellers £4 16s. . ■ • . '■',;. THE SCOTTISH TWEED TEADE..-'.' A few months ago a great outcry was raised about tho number of "derelict" woollen mills in the South of Scotland, and tho theii somewhat" depressed state of the industry was claimed to bo'tho direct result of free trade. Those who endeavoured to make political capital out of the industry will find it difficult to explain the cause of tho present boom in the South of Scotland tweed trade. At all the seven centres of the .trade the principal mills' are working overtime, and some manufacturers are so well supplied with orders that they have been compelled to:sublet a portion to such of their brother manufacturers as can tako them. According to tho "Manchester Guardian," preparations are being mado for restarting mills which havo been idlo for, some time, and during the last month or two manufacturers have greatly im-. proved,, and extended their equipment.■ ■. It has' long been recognised by competent authorities that the Scotch tweed manufacturers would find their best customers in the Homo trade. It is not denied that the Dingley Tariff dealt the industry a severe blow, by- excluding its manufacturers from the United States, but it is now admitted that a mistake was made when Scottish woollen manufacturers; endeavoured to find compensation for their lost markets abroad by cultivating a branch of-trade in which they had little chance of compoting successfully with Yorkshire manufacturers. Their sole hope of continued prosperity lay in the development of the demand for cloths of pronounced Scottish characteristics; made' of pnre wool, and consequently appealing to. the better class consumers. This is the policy which they are now pursuing with success. The prices of-Scottifi woollen cloths for next winter are being advanced by 4d. to 6d. per yard owing to tho in. crease in .the,'cost of wool. ■.'''. V"■■■.' THE ; BUTTER MARKET. .. :. The quotations for butter, are, as regards theproducts of Australia and New Zealand, on—, level with those current a' year ago, but Dan'pii is considerably higher. The following table shows the movements:— - ''■•■ . .' '"''■■ : Dec. 10,1908: Dec. 10,1909. ■■■'■-..■ ' ' per cwt. ■ ■ per cwt. Danish' butter ........:.... 116s. to 117s.- 1255. to 1275. Australian butter ...... 106s. to 108s. ,106s. to 108s: New Zealand butter.... 110s. to U2s. 112s. , Argentina butter 106s. 106s. to 1033. Danish butter exhibits an advance of 9s. to ids., while colonial: and Argentina sorts are practically unchanged: The margin of difference between the values of Danish and New Zealand butters last year was from sa. to 65.; it is now from 13s. to; 15s. The position of the marr :kot' is unsatisfactory, far the consumptive'demand is not equal to absorbing the heavy supplies. Business ■ opght to be good this week and next because of tho Christmas demand, but after that much "WUI depend upon the attitude of operators who 'can make use of the expanding supplies to depress values. .■.'•■■. ■ . ''.' : - -•'.' THE.PANAMA OANAL. The Panama Canal when completed will no 'doubt prove to bo as useful to trade and commerce as ie the Suez Canal, but it is going'to cost'a very largo sum. The estimate of appropriations submitted by the Panama Canal Commission for work on the canal during the'fiscal year, which begins July 1, r 1910, shows a considerable increase on previous annual allotments, . being no less a sum than £9,600,000. Of this .sum £4,050,0C0 is to bo expended on materials and implements . used in construction, and .£3,1C0,00p represents 'the cost of labour.; of.: all kinds. Colonel Goethals, who combines the offices of ; chief engineer and chairman , of : > tho Tcommission, considers •■ that tho canal will not ■be completed before January, 1915 i -The c.sti-' mated total cost now roaches the enormous sum of ,£75,000,000, • including tho cost of sanitation ;and civil government and tho £10,000,000 pur.chaso price. The- appropriations already mado 'amount to £42,000,000. The great .increaso in , , the annual sum requiredwas not unforeseen; tho rate, of; expenditure being ; boUnd ; to■■' in--crease as the undertaking approaches tho later stages. ;"■■ -■ ■< ':.,■■ , v ;- -..-■,< ■'~-■:( , '-.- ~ •': Customs revenue collected at Wellington''■ on Saturday amounted to £1604 12s. 6d. : •. . • -'. f ■ •:. . . WELLINGTON JIAEKET. EEPOET.' •/■ ?. Messrs. Laory and Co., Ltd., Welllneton,-, report wholesale prices ruling on tho market--Wheat, fowl; 4s;. Bd. . to ■'4«. , 10d.; feed ; oats, 2s. 2d. to . 25.. ■ 6d.;. dun,*oatsp 2a. W.-' to 2s. 6d.; seed oats, 2s. 4d. to 2s~. Bd.; maize, As. to 4s. 3d.;-crushed malt, 75.; fowl barley, 25.. 4d.. to 2s. 6d.; Cape barley Beed,-. 2s. M.S. to: 2s~ 9d.; "flour New Zealand £11-ss.to£lllos.,Australian £12 ss. to £12 10s.; bran, £3155. to £4; pearl barley. 155.; peas, Prussian blue, ss. 3d. to 55." 6d.; : split, £17 IDs.;: bonedust, £5165.: superphosphates .£5 to £5.'5a.s pollard, £4 155./ to £5 lOs.i basic ■ slag, £4 10s.; 'chaff, oalen-shuaf, £3 ,ss. to £3 155,;,, oatmeal. £11 to £11 IDs.; potatoes, old table, £5 to £5 10s.; potatoes, new, £6 to £8 ton; Victorian onions, 9b. cwt.; molasses' fodder, £5; : bacon, factory.sides 73d., hamsßSd.,rpllsßid.; butter, prime bulk,'Bd. to BJd. Poultry: Hens, 4s. to'4s.'6d.; ducks, ,ss. ;to ss. 6d.; geese, 6s. to Bs.; turkeys, 'gobblers,: , 185.,., to 205.; hens, 10s. to 145.; fresh eggs, :Is. Id. to Is. 2d. : dozen; cheese, 5Jd. to 6d. per, lb.j loaf, ,7d. to,7id. per lb.; Aka.roamachine-drcc.-ed cocksfoot, , 73d. to Bd.; farmers' dressed cocksfoot. sd. to ,6d. per' lb;; ryegrass, 3s. 9d. to 4s. 6d. per bushel; Italian ryegrass, 3s. 6d. to 4a. i<l. bushol, nhito clover. 70s. to 755. per cwt. i rod clover, 755. per cwt.; cow grass, 75a; cwt.; alsiko - 82s. 6d. f cnL: mustard. 40s. cwt.; rape seed, 265. cwt.j timothv. 225. 6d. cut.; Swede and turnip seed, 51)3. to 60s. cwt' . . .-" ...'■.'.■• ■ ■ • .- ■ : . : . •■ ;:■';. .. THE FEOZEN MEAT MAEKET. ', ; :''• '' (By Telegraph.—Press .'Association.— Copyr'lEht.) '.'■ ■ !\7 -... , : -.. London, December 12. ; Tho Frozen Meat Trade Association's Smithfleld market quotations ..for the undermentioned classes of frozen meat'arc based on actual sales of. not less than one hundred-carcassee of' mutton or lamb, or twenty-flvo quarters of beef ol fair average Quality; The quotations are. not for ■ selected lines, but for parcels fairly representative of tho bulk of tho shipments now on the'market. The prices, which follow aro on on average a farthing por lb. more than tho valuo ex ship, this difference representing': an'average cost.in expenses, handling,' conveyance, and selling: tho meat:—. .V:-,, * : .■.■•.. ; ,V-"'-\' : - ,: •,'■''■ : ."■ • ~ . ,-• '.■'. ■• --.■. Deo. 1 "•'■' ,; .''- ' : •■>.■ ■.■■ ■'■■■'■.:."■■•■V'd. , :-.--;';d.':.- ■ Canterbury, light' .........•.:..-....' 4,.' .A- ■■• Canterbury,..medium.■..::..;.;.,.;.. 4 ■■;■.". ; 4 ,; Canterbury, heavy' 33 '■■-. 3J.-■-,. ; Southland ..„..'.:.. .....;..;.:.......,:.313-16 ~ 31., ■„ ' North Island,.-,beßt ;.'.....:. ...313-16 -.rili'i.: North Island, ordinary 33 ; , ;. 3j,., : Australian, light 3:; .:3i '- '■ Australian,, heavy 21 ' ,2g. 'River .Plate, light ....'...:.' 3j ....; 33 Eivor Plate, heavy ..;..............,. 31" • 35-16 'likihlj—.-.'■' ■ '■" '■■''■ ■•'■■.• "'■''■ '"■■ '-'■• ' : ; : '. '■■i vCantorbury,- light ..................;.. 4 .; . 4j" ; ; Canterbury, medium ......i...' 31 .-■.• 3a ■ -. Canterbury, heavy... 33 • -3jv: . .Southland .....; .:. : 311-lfi 3 11-16 ■■■■'■ North Island, selected ....;.-. 311-16 ■• -3J.< .'■ North Island,!ordinary :........... 31 ■..•". 39-16 ■ . Australian, , be5t;;..;.....;..........;.., 315-16; ,313-16 :. Australian, fair _.....-......: 33 ■ .: 33 •■' Australian, inferi0r■..;........;... -3J : , ~ 33- ■••■• ;;'.Eiver Plato ;;........-.;...: 315-16",,33 . ; Boef— -. '■:'■ ..' .. ' ■ '■'. ': .■•■'■" ■'. ' . '','.' New Zealand,, ox fores ...'. 213-16 ..23 New Zealand, ox hinds 3J . ;; ik '■' Australjan, ox. fores 2j .■_ ' 2j ": Australian, ox hinds 3 •-.■■"..■ 3 .■■.•• . Bivor Plate,' ox . fores •;....-.....: 23 '• 211-16 ■ Kiver Plate,, ox hinds..' .......; 3J ,: 3J . ; ■'; '.'■■■■-COtONIAL AND OTHER PEODTJOE. . ■■■ Babbits— Market flat and prices - Thero are largo supplies of' English. ... '- : New Zealand Cheese—Dull, at 555. ' ■ Hemp.—Market -inactive. January-March,, £28 10s.'- ■ ■.■■'. ■ >■■ ■■ '■■ ■ ";.■ :■" ■ ■' ': .' Copra.—Market dull. ■ High-prices are checking business, South Sea, nominal, £25 7s. 6i. .-' . . .'THE METAL MAEKETS.. ~ ; ';' -', Copper.—Oa spot, Bs. 9d. higher, at'£s9 16s. 3d. per ton; three months', Bs. 9d.'lower, at £60,75.' 6d.rolectrolytic, 15s; higher, at'£6l.lss. . . : ' Silver, M6d. lower at 23 15-16 d. per. ounco standard. .■■■'■'.- •"• . '■■ ■ • ■ ', . -■■■ ' ' '■■-■.;■'.-. '■ Load.—lmports, 18,360 tone, Australian, 5758 tons; oxports, 4737 tons. v ■ ; '-■-..'■'■'- "'■' HIGH COMMISSIONEE'S CABLE. , ; : - The' Oommerco and Tourists' Division has received the following cablegram from the' High Commissioner, dated London,' December 11 :— Tho mutton market'is weaker, and slightly lower, with scarcely any demand; the average prico for Canterbury mutton is - 33d.-.'per. .-Id., North Island 31d.: . . .:.-' . ..- . Tho'lamb market is very dull; there is an inclination to force sales in anticipation of the opening of tho new season. The arrivals of Now Zealand lamb during .1909. exceed 3,000,000 carcasses. The average price of Canterbury lamb ia 33d. per lb. Othor New Zealand brands, 31d. : Australian, 3id. Largo-'shipments oflamb are expected this season, which keeps the market dull. - - ' / '','.■•■ . -.:-. The: beef • market is weak; supplies of River , Plate beef are heavy; tho avorago price ■ or New Zealand hlndquartem is 31d. per lb., foroquartcra 23d , ■ Tho buttor markot is steady, but without animation; buyers aru cautious, in anticipation of heavy arrivals. Shipment of butter per s.s. Euapoha arrived in good condition, nleo shipment OS cheese, llie average prico of choicest Now Zealand butter is 112s. per cwt.,.Australian 108s., Danish 1245., Siberian 110b.,- Argentine HOs. ■The cheese market is: quiet, with a tendency in favour.ofibuyern. The. average price of New Zealand/ cheeso is 545. to 565. per. cwt., accordinn to-quality., • '• ■ ... ~.''. Tho hemp market is very quiet, and a; shade weaker, nothing doing; stock 167 tons'. . The price .of New Zealand hemp, .good fair- grade, on -spot, is £29 per ton, fair grade £27, Manila, fair. : ,-.."(• ■..•■:■-■■■ . ■ ■ ' -. .-■' .'■■.;' ''■ -. ■•.

] current £27. January to March shipments, Now Zealand good fair'£27 10s., fair £26 10a., Manila 1 £26 10s. The .output of Manila for the week was 24,000 balee. ' ' Tho cocksfoot seed market is firm, with a better' demand. Stocks on hand are light. The average price of bright clean, 171b. Now Zealand seed, is 745. per cwt. ■ ■■■..- The wool market is firm for all descriptions. LONDON MARKETS. . . Messrs. Dalgcty and Company, Limited, reDort having received tho following cable nicesages from their London house, under dato December 9:—Tallow.—Prices are eixpenco higher. Frozen ■ meat.—Quotations are as follow:—New Zealand prime ox beef, foree, Z3d\; New. Zealand prime ox beef, hinds, 3Jd.; New Zealand prime crossbred lamb, Canterbury, heavy, 31d.; New Zealand prime crossbred lamb, Canterbury, light, 4d.; Now Zealand prime crossbred lamb, North Island, heavy, 3Sd.; New Zealand prime crossbred lamb, North Island, light, SJd. j Now Zealand primo crossbred mutton, Canterbury, heavy, SJd.; New Zealand primo crossbred mutton, Canterbury, light, 3Jd.j Now Zealand "•prime orossbred mutton, North Island, heavy, 3Jd.; Now Zealand prime crossbred mutton. North Island, light, 33d.; Australian . good average quality crossbred lamb, heavy, JJd.; Australian good average quality crossbred lamb, light, 3Sd.; Australian prime crossbred mutton, heavy, 35d.; Australian prime crossbred mutton, light, 3gd. Tho market lor lamb and beef is weaker,-but the mutton market is unchanged. Stored New Zealand lamb ie difficult of sale in competition with Australian stocks just landed. In view of heavy shipments of Australian lamb we expect that, if any change in prices takes place, it will bo in favour of buyers. Mutton may be affected in sympathy. The beef market is very weak, and its future depends Jargely upon receipts. ■ ■ ■ . UNION STEAM SIIIP COMPANY. . THIKTY-FOUETH ANNUAL MEETING. (Ily Telecra'ph-Press Association.) Dunodin, December 13. The thirty-fourth annual meeting of tho Union Steam Ship Company was held to-day. A dividend of 91d. per share was declared for tho eix months ended September 30,' making, with the interim dividend, Is. 7d. per share for the twelve months. A bonus of 2Jd. per share out of the insurance fund was also declared. OAMAEU WOOLLEN COMPANY. (By Teletraph-Press Association.! " Oamaru, December 13. At the annual meeting of the Oamarn Woollen Factory Company, held to-day, a dividend of. 4 per cent, was declared, making 0 per cent, for the year. £1500 was added to reserve, and £902 ss. lid. carried forward. The chairman, in his statement, said that business had been good during the year, but would have been better had there been less difficulty in obtaining -labour. ' ■ , .