COMMERCIAL ITEMS

Dominion, Volume 3, Issue 711, 10 January 1910, Page 8

COMMERCIAL ITEMS

/ -/. -,:. /the;shaeb 'maeicet/' /■///; The Wellington: sharebroUers resume business this morning, and.the .prospects point' to activity in investment shares. The excellent prices ' obtained' for' wool and'some other of our .products will' swell .the credits, of those who are --likely investors in first-lass' shares... In the' mining market alßb there will probably - bo' a degree of ..activity. Messrs. .Harcburt: and , Co., 'in -theu- latest aharo report,'state'-.as. fol-lows:—"The-prospects for tho (coining! year are ;undoubtedly.../bright. ,- The/current highly >satisfactory, prices- .'of: wool, • tho prospect of, a/bumper harvest, and. the evidence of/a general trade revival in 'Europe'• 'and America will have the effect.of'stimu-' Zealand. "There is ■ at present, a largo amount of money in tho country awaiting investment,- so that,with, a 1: more settled etate of affairs a'general improvement: may bo looked for'early 1 in :the year, in anticipation of:,which/tho demand for investment' securities Showed a decided increase; during the; bast'month. "In fact, : everything points to the probability.that on the. re-bpenihg of' the Stock' Exchange on January .10 thero will bo a "strong.: demand: for' tho better-class of in-' vestment '/securities, while .'renewed confl-' dence: oh the part of speculators, signs of which were not wanting during, tho ,past month; aro likely to 'have, an/inspiriting effect/on the (mining market, and thoso buyers'who: have"beeri holding ;off until prices should reach- their lowest'should be careful to avoid missing an' opportunity by."postponing their operations.too long."

: ; /.,./ ///GOIJB ;AND.SirjyEß;.'/ ; vV ■'•!/ / /'From -data": now 'available- competent','au-' thorities .'estimatS" 3 th8 l <t v 6rld's"6utbut'''of gold for' 1909; at- not less than. £90,000.000, as compared, .ivith , £86,800.000,:, and - should the, present- rate of cannual ~ indreaso be maintained for.the next threo'years it will in ' 1912' exceod £100;000,000;Vf,Thorq -,-is':' every reason to; expect : , will increase annually for-Vseverail years to ■'come.' '.The probable, life of-tho mine 3 of the Band- has'been tlio subject; of: much speculation in mining circles, tho consensus ,of opinion/being.that these great mines ,will-contributo largelyj,tO"tho/jvorld's, out-, (put/of:^(; : 61d ..foij.'.'at ..least af'quartcr/bf, a. e'entury;-'.'Thoioutput. from,.this'.'source.-is growing' from 'year .'to year.'.' The greatest, feature in the life of these mines is reprc-.-'i sented bytho. depth at'which: they can bo successluily.: worked; In:, thb mines of nearly all other, parts', of-the, world heat increases one degree Fahrenheit for every, 55 vertical 'feet.,-of depth obtained, while in the mines of the.Band the increase.of heat .is only, one/degree Fahrenheit in(265 vertical feet. condition 'will admit: bf .the'."successful working of .these mines:to a', great depth,'.and will much;prolong ;the/pcriod of their 'productivity.- • v With the-liberal:mining laws enacted by Mexico during(thd past few years; and the 'consequent investment of. foreign capital, which lias resulted' in ■thoy installation of now, machinery; and, modern; methodß' for; the extraction of gold from' rich as well .as ' low-grade.: ores, the; output from ithe mines or that country' is. expected, to. Bliow :annual..increasos. v lt/.is.'alsb. tho expectation that Eussia will sooner or later, show, ac annual: output of .gold much'greatcr than at proscnt. Eussia is known to-be rich in placers as.weU.as.quartz niinc3,car-. ■ry.lng'gold, but 'the existing, mining Zlawa of,]that''country are;6,uch that capitalists' heiiitato-.tovmako investments' in mining 'enterprises/there.,' Ohina,. is'expected to de-'velop-'sbmo .importance in;the. futuro as a producer Of gold/while -thb establishment, of /moro stablo'.Governments in 'tho. South .and Central American countries will before, 'long add Considerably to,the world's annual output.-Taking the.world as a.wholo,tho ; outlook: for; a, largo'.and .(continuous.' -production i'of; gold, is exceedingly (favour-' able., From .thb' disebvery/.0f./America ; in .1192, to''lßßo,';inclnßive,.the world's, produc/ tiph of gold is estimated to, have,;been £1,381,006,000,' and' frbm:-1881,to: 1908,7 inclusive; tho production is,estimated to have; been making .'a/grand total.since tho -'■.-. voyage' . of, Columbus ..of;! :£2',585,191,600; From these figures: it wili;be seen; that the gold production- of tho world' for the.2B'year3,.begiDning 1881 and,ending •1908 was only £176,821,600 less than (that of the-'-388;orec8ding years. ■ .' •/.' : •. / ';'■'■■ ~ -Australasia,, nnfbrtnnatoly, ■ is; notaoing; as.well'as in, previous years; it.;is turning but less- of the: precious metal each, year.' Prosperity in - other, directions ■ generally,-' .leads-to neglect in mining; and,it-is therefore' not unlikely -that 1 - renewed, attention, will, be -givenvto this, matter, and that fresh fields will be-'-opened'..up. ... .;',';•.;. ,Tho world's production of silver for the calendar year 1908 is estimated: to' have been 200,000,000 fine'ounces, an increase over 1907 of 15,000,000 fine ounces. The increase is due ■ principally ,to tho yiold.jOf, the mines' of: Canada',: Mexico, .and,.Australia. It is now estimated that tho silver production for '1909 will -.exceed .220,000,000 fine ounces. Silver' is, .-principally a by/ nroduct' resulting, from tho smelting and refining .of. lead and copper ores,; ajid so long as'tho. great,:demand for v lead and copper exists thero ,13 no probability, of, a decroaso.in the quantity of from this source. With only India and China'as largo.purchasers, it is not.probablo that tlfcre will' bo /any- permanent natural advance: in. tho price of- silver. The United' States discontinued tho purchase' of: sUvcr.'for.subsidiary co nago in February last, and it is not likely to bo a purchaser, for several'months to como, iis thero is in the Treasury an ample jtock to supply, the. demand, for, an'■ mdellmteperipd. ,; --. -/■'. ;..;. /' .- -/■

.Customs revenuo - "collected. 1 at ■ ■ WoUing--ton on Saturday amounted to £1645 ss. 6d., T?e-total for.tho(week was £10 374 95., beer duty amounting to £221'.75., and surtax to £225 Os.-iid: //;■'"■ :'(;,/:;..(;--.- ;:/

; /./ feilding':' mabicet/eepoet. ; ;■";,.. ' Messrs./A.:n. "Atkinsbn/antt'Oo., Ltd.," of Tcilding, report.brisk business at; Fridays silo and a; return to, normal conditions, after the holiday break. Pigs .were limited in quantity, and sold at rates on a par with- th'oso lately ruling.. In all other, linos they had full ontnes. Poultry sold better than'of late, and made good values. Tboro is a, strong , demand for,young roosters and cockerels, which.are worth, 4s. 6d. per nair. The firm had largo consignments of' fruit forward, from all partß of the island, including some nice lines of tomatoes, cucumbers,.: greengages, etc., which ,were ,all sold under tho hammer at satisfactory. .Prices. ( auotations : -PigsSmaUwcancrE, 6s. 6d. to:7s.; slips 1 -135.,.6 d. to"l«s, 6d.; light porkers.. 205.;, medium weight. 235. 235. 6d,,'to o «s..'-. Poultry, at each-Hens, Is. Id;, Is. 15..6d...t0 Is. 9d.; cockerels, Is.'ld., Is. 5d.; ;.tp Is., H.i roosters. Is. 7d., 15..9d.,:15. Ua.,'2s.. Zs..ld., to &,; ducks, ,1s; 10d., tt.-.2^ chicks,'3s. 3d,: L|?horn chicks. Bd. to 10d., dog's, to 9s. .Etodnce-Plums, 25., 2s. 6d., to 3s per case; pV ; aches,/4s. to.ss. 6d. ; cncum. bcrß,'3s. to 4b.'. tomatoes, 2s. 3d..t0 2s. M. per lOlb.boxjlpotatoes, Bs. to 9s.,o\rt.i cabbage and cauliilower, Is.' to :.ls. 3d.. : per iiriill bait- rhnnHrb, 3d. per bundle; maizo, V; 4s P 9d. ; bushelv fac : .tory;bacon,si'M,;7d, , pci;,lb,j.;hamß, 6a. _. ,

. . BANK op esgi;And;eetijes. ... ; By Telegraph'-Press Association-Copyright. • ■"!' . London, Januar- 6. The Bank of England return •issued: for tho' week ended Wednesday, January 5, is as under:.r ', -~., ' Issue Department. ~ "' / Note Issue... £51,240,000 Gov. debt ... £11,015,000 ■ .'■■■ Other'securir. ' ties . '...' 7,134,000 /■:/.":!.'"::' ..-'•" Gold." ......82,791,000 ' £51,240,003 ""-,. / -'-'.' ,:' £51,240,000 BiliKEiO DErAMMEXTi '■•■ •Proprietors'■ ... Govt, se'curi- ■■'■ ' ■"' .capital ...£14,553,000 tios... ■:.. £17.5 M,OOO Public de- .', .... otherseeuri- \ "posits . „ 5',937,000 . ties... ... 36,311,030 .. .„ 4il,12!),000 Notes :' , ._ 23.374,000 Kost, 7-day . ■ . , nadothor . :.. Coin ...- ■"' _ , . 014,000 ..bi115...,. ;... _a.W8.000..- ;.":' .£77,007,000: ::; ,£;7,(W,000 The leading items .'of tho Bank of Enela£d go return. afford : the following\ coroThis week. Last week. Last year' Bullion .... : „. ,52,7 M,003 .31,836,000 ,29,749,000 Kecerye ......./• 23,!!55,000 ,'2-2,220,000' 19,1191,000 .26,866,000 28,Ei8.000 29.532,000 rupiic Doposita .i:9.557.000 10,783.000 ■! 7,031 800 Other Doposts- 49,139,000' 60,210,000 47.316,000 rroporfcion-of . .'• reserve to' V." .. liabilities:: _~',;. 89.40 v 86.12 '.56.43- , QbTERNiIENT.SEOTmrnES. •'-. fn^V„™^ win|: J aro ' tho ' latest- quotations tor (lOYernnient securities, with,- a ■ companson. of. thosti. ruling last week:- :. '.'"•,'■ ■'']• ■■. Variations: . .;». 'y- _. ■ compared ' ■ -:•■; ■ nM " :•' with "I "J '• ' --• ' - - lasfcweek. 2* % Si p S^,£ o ,? sc ' l i;' M 7-6 ¥'los;lower' Pi "v aw', l l,? Jan ' Jn] y 107- 0' 0 • Unchanged i .' BO I"• 0 Unchanged. • /-Unchanged' ?»"?A , wS^ Jl ' U T^ ul! i :;BS ° ° "Unchanged, q "1 ,A - J 1 "" 1 " 1 I■■o7 10 0 Unchanged i '"n'.iV„i I H'"}-- Jtaj ' ■■■8310 '0 UnchanEed' «'m.SSS" L i*^ B ' ' 6«, higher' ?-"§.£}sHH*"- rj»ly. ® 00 Sa.Od.lowor t "vV I Sr 7Jai i' Juls ' 35 0 0 Unchanged sV"N7SW 0 7' 10 1 10 ° -Unchanged 3 ■"ws'™}?? ln '-",% - 9S "' 0 Unchanged J ~ tt.A.I9IS-85M0.y-Noy 83 0 0 -Unchanged 3*„las.l94oJan.July : 97: 0 0 UnchaS 3:,.Ta5.1920^0jM.../ uJy l 86.0-.0- uiffiSS-

;",-, /!, !-THE MOHEr-'MAEKET. •-: -:'/ 'n'p t ? 10 3 nk ."' it '' ??B' a ?<l'-di6count''rate:is 'b u JS Dti }° which/it was redd&d from 4i per .cent.' on ,Jnnuary.'6.V- -■/■ ■•'■• '■ ■ n o,.°=f„i C / ns . S ejZl »"'cent: lower. :ahd' now stand at 2J.per cent. v n^?t« montlls ' W are.quotedin London w „t 1 p0 m^ ce ?, t ''"': a reduction •of }:sinco last week. Tho Paris raw is unohanged at

:''.'. colonial^^-and other' peoduoe; ■ '■'.-, .' •:WheaWTho'.whej 1 1 : ' markets::are -strong and active,>with 'holders- very firm. ' aS u l carß S- ,aad:abont;4o,ooo-quartcrs and 5000 tons - December January-February shipment,, have-.been'sold aW4Os. 3d. ner quarter: 10,500.Quarters,expected-in Jahu- . at -Ws. -45d.; N a':cargo af ffls:.'3d.,het: and a second cargo: at 41s. ' ■: ; ;. Flour-is steady. Tr,e market is "inactive, .with prices unchanged. Butter.r-Danish easier, 'at' 120s. .'to' ms; per .cwt.v. Colonial, firm/despite tho "arrival of/near y.100,000!boies. , There is good in' quiry at, late rates.;: Secondary Australian is scarce, and-very. ten, at 1045.. Choicest New Zealand, 110s.' to 112s. •:• ■ ■'. i - • Ohecse.-Firmcr.New:Zc'aland, 555. to 56i per owt.;'ftueensland, 635. to 545. ' German beet sugar, 12s; Bd;'pcr owt.'; first marks,-granulated, 14s. 7d.'>- ■ ~Tops.-The market is' excitdd.' 1 Orossbreds art meetuig' with firm trado: 40s, 'Hid.; ■ 46'8, 17d.|' common 60's, 26id.super ,60's, 27id. per:lb.- ■■-:/ ... >: : J :;:,(Bec.:!Janua-ry'9,j6 p.m.)-' : !/: •"_'' ■'■■.-'■ -v '■■ i'London, January: a! , /. Copra is/active; arath-Sea'in bags is' quotedat '£24 ■ por 'ton: '' ; 'v - ° Kauri Gum.-r-Tho'. stock' amounts to 355 ■ tons.: /■: ■'.-.•/ .. ■..■,'■.//-... .._, ■ ■■ ;, Hemp' is dull. '.October/shipment is eeLU ins at £28 per /ton. •-, ■' /:::.•.••-•.•. . Babbits aro" quiet. ■'Large. Sydneys, 105.,* .exstor.e; Yictoriohs,; 155.. './/;:• . -

J .-v v ;"'..:. /TBi'iaiTAL'kAßkEra:' ■■''. '■': i" 'Copper,, on the spot.'-fOl' 3s'.:'sdV per ton; threo months. £62.2s..6d.;.electrolytic,' £63. Tin .-Spot, £150 :17s';i,6d. per,:ton;, three: months, £152 ss. ' . ,■* ." Lead,: £13 13s. 9d. per-ton.:T '. • "/;/.. . : Spelter,. £23.-: . : : •'.• : I '--"" Pig-iron, 51s. sd. per ton; ' Silver—Bar/silver is. quoted at' 24. l-ifid. per' o'unce. ;•/";■ v' " /"/ ••:--•"■' .-_■ . ..■'■ -THE FROZEN inSAT'- MAEKET., : :By TeleCTaphTT-Prcss Associa'tion-CoDyriEht; -J!,:/ ; !^:/(Re!c/ ; ; 5^p.m.y.,///v,/ r ' mi!" ''• ,1 - 'l'ondbH. ! 'Janua'r'y 'B.' J , Meat Trade ■ Association's Jlarket quotations for tho undermentioned/.classes' of: frozen moat are based, on actual sales-of hot'loss than one hundred carcasses 6f-,mutton'or lamb quartorß. of beef, of fair average quality.. Tho iiiiotations are not .for .selected lines, -but for-parcels' fairly •representative of the : bulk./.of- the shipments li'ow,/on the, markpt;', .".The/prices which follow :,arO' on an> average ;a farI thing per -lb. moro /than '/the values ex 6hip; this: difforonco reorosenting an averaso coßt. in .expenses, handling, conveyance, and selling the. meat:— ■' ■■,-,.■'■• ■•.':-'■■:'■'■■:■■ U !-. Jan.l. JanJ. Mutton—// -~-' ■;" ij-.: -'- ■■'•■ d..- d.. .. /Canterbury, light-....:;..;.:...;.— • ';—--'•"■ : : Canterbury,, medium-'.-^—' l —. '"— . Canterhury, • heavy — ; /■—' •'■: Southiahd .......';;_.;;_...—:•' 4 , ~' North! Island, best :.....-..._. -- : - 3J - North Island, ordiniry '...... '33.'-'.'. 33 . ' Australian, - light '■:..'..;....;.... 35-16 "3 5-16 • .. Australian, .' 25 ! 2J '.River Plato,'light .. : .;..'..'J:.... 38 ' 35 - • River Plate, heavy,'......;..._ 3 5-16//. / Lamb—" ■ ■•/ :' ■. ''-'.'■'''. i';...' .• '' '<•'■ ;.'. ' : Canterbury, : ; 41.- ! 43 ■ -•■ Canterbury,".medium'™i_ 33 4}'- ..;'■ Canterbury, heavy. '.:„..:.'.... '■—'-.-' /• '— : - /Southland '...........-......-.;;;...:; 3|. / -. 4 •■ •/ North. Island; selected ;;/... .—:. ' .'— ' ■North Island, ordinary!.U !— ■'■;• —'•'■• / Australian,, best .......'...'..;;. 313-16 •'■.' 3J : : Australian,'fair, -';.._.......:.„'38 • ■'■•'.-;'Sj-' . Australian; inferior, ..'.'„.;... '33'>'■ ■-.' /' 3J . Bivor Plato ...........'......_........ ,3j' /// 3J. Beer-. i -'. '" . >.*.!>/. : /// '•! / "' New Zealand, ox .fores ...... 23 ) -.-. .'— / / New Zealand,"ox'hindß ...'-. 3g'' . /,—.. , Australian, ox. fores.' -....-2 9-16 ■•' 2J. . , Australian, ox.hinds .»;.v.'..^ 21 ■•'■ . :2(, ■ River Plate, ox fores ■'_:!'.. 12j ■'- :.':' 29-16 . River Plate,'ox hinds ..'...;.;..• 3 "■■-,.,:-. 215-16 ■'-. '.:':. HEAT .TBADB BEVIEW'. /•' ■:.'■", | -,•'■'■ A HOPEFDIi TONE., " .."' '..'■ , By Tclograph-Fresa ABsocia'tion-Copyrlght. !//•" .-■•. (Eco. January.'9,.s p.m.) .'•■;,', ,| 'London, January 8. '.- TVeddel's ' annual review • of ' the .meat trado estimates, tho' total, output' for 1909 of. .tho world's, freezing works at" 501,371 tons, whereof 488,720 came • into the- 'United Kingdom. :. .The general. improvement' in trade "during.; the last quarter has already j caused freer;consumption; iind it is hoped'] that the improvement will develop because' it, is -probablo the. United, Kingdom will have to .absorb .tho .whole'of tho world's output. With better consumption the", demand which may be expected ought • to cause some recovery in values.