COMMERCIAL ITEMS.

Dominion, Volume 3, Issue 725, 26 January 1910, Page 10

COMMERCIAL ITEMS.

• . INVESTMENT; SHAKES. V ; ' Sales ol Standard. Insurance at 235. and Sharland's, ordinary ; at -20s. 3d. were reportedyesterday. •• National : Bank, buyers £6; Wellington Investment, buyerslls.; ..Wellington. Deposit,! sellers 'Bs. - 3d.; . National Mortgage, buyors £2 18s. 6d., sellers £3; 'Wellington Gas, £10 paid,'sellers £18 55., £6'lss> paid,- sellers;£l4.ss.; Sonth British Insurance, .. buyers £2 13s. 6d.; New •Zealand Shipping, buyers £7 10s.: 'Welling-, ton Woollen, sellers £5 45.; Westport Coal, sellers £6-,65.; Westpori-Stockton, sellers 7s. 3d.; Sharland's preference, buyers £1 os. 6d. / ..- v:

HEMP. -FEEIGHT.

- Recently attention ..was directed to the in* creased "freight chargo on hemp'made by tho-TJnion Steam Ship Company.-and the Huddart-Parker: Company.'.: The matter was considered by r the New. Zealand I'laxmillers' Ascociation 'at-'the quarterly meeting held at. Palnierston North on:.. Thursday afternoon;; when the following resolution was passed:—"That .the'■ mei^hants. -/be circularised to the offcct that. the : association will give its whole-hearted support to any I action taken by -the Wellington and. other j merchants to charter boats and to prevent | the-' shipping ' companies from raising I freigMs from -New • Zealand U ■ Australia." | Amongother, matters whiftii ,were dis-; cussed, and-regarding, which decisions wcro l arrived'-at, -were the' Question .of a head I grader 'and • a further, division of grades.' A deputation' is to wait , upon the .Minister I for . Agriculture ■ with -regard to the ap- I pointment. o! a head .grader,.'and to. dis-1 cuss and deal with' hemp matters gener- l ,ally., .Tho millers also wish to see tho present - grades divided. into two/ A , and 8,,: .giving each with a margin of five.points, the prcsenfmargin being ten points. The deputation .will also wait upon the Minister for Railways with regard to tho dan- j ger ,of being fired by sparks com-i 'ang-from railway engines. This in , the j past has-been a very' common occurrence. v| \

VENEZUELA MEAT I TEADE. -. !'. Venezuela' is, abont. to re-enter the - meat trade."!. Energetically' backed by: influential monetary interests • at' ' Smithfield* while the - already'.oxisting , undertakings owned by-British interests* such .as the; Puerto Cabello -Railway and the*' Royal •Mail Steam -Packet .Company are ..in -, cor-. dial sympathy, the Venezuela Meat and Products Company is . in strong -and in% fiuential hands. . The.enterprise;, begins •with a' highly . important, advantagenamely, the purchase of land and} buildings at a' very much lower figure t than their actual face value,'- arid the goodwill of all classes, from Government officials to the ; lowliest agriculturist, who in. this-concern a ? permanent purchaser, prowith ample means, who will take all that, he can offer in the way of fat cattle; The company was formed in London'in • September last with a nominal capital of £155,000 (of which' £55,0C0. was. in - preference shares),- v to ' tako, .over 1 a;,'concession •granted to E.' Herrera. Sucre for the pur-, pose "of carrying oh a business of . exporimporters of and dealers ; iri meat, live cattle; and eheop, . stock'raisers and: breeders, butchers,' meat chillers and -re-' frigerators,'; dealers in;; agricultural , pro-i ducts,' etc. •. Although 1 this is' not'tho '.first concern ' of its land - formed in tho, Ee- . public':of Venezuela', it promises to be the.' 1 most successful.' ' : ; •

The concession originally granted'' by: President.Castro', and since confirmed and. materially enlarged in its scope by President Gomez, confers a monopoly - in regard to. cattle . and cattlo. products exportation for a:pariod.of :flfteen'.years,! dur-.: ing which' periodVno' • competition' ; of . Any' kind,can 'be. entered,upon.- . The Government,has. done; 1 ; and'- is;/doing, its best to . assist; the undertaking, Toncy important stop being tho importation of some of tho best,breeds of bulls from England, and the. selling of • the beasts to. cattle breeders, or. hateras, - as : they .are; called >in -Venezuela, at 33 '1-3 pe'r.cent.of the original 1 cost'—that is,lat- 66 2-3 per - cent- below what the Government 1 has-' paid for. them. .Foraerly there existed a Government oxport tax of 'five'; bolivars - a., head , upon horned cattle and two bolivars upon sheep l and ,pigs, but the' new. regime "has abolished 'these, imposts as' well.-as. those upon any and all kinds of,'native . products. The original concession has. been extended from ten to fifteen* years, and all necessary machinery, •stores' and.- appliances r aro • to, be free of importation".taxes;' !. :, --V v. j'-'.v

Should the undertaking; prove .successful thesamo ,concessionaires ■ will , put up similar establishments in other parts of the Sepublic, on ,the Orinoco, 1 at Quanta, and on the west coast. : lt is belicved that an, inexhaustible supply,' of cattle will ;b\ forthcoming in view of the Government assistance: promised >nd' the, facilities existing- generally • for- cattle-raising' throughout the Republic, - while • the average - price ,'for the host fat cattle to be paid by the company/will be £5 per boast. Probably some 50.CC0 head ■would be' killed' before the end ;of last-year, - and .between 60,000and60,C00 during this year. Contracts have been tentatively arranged to. take suitable -cattle , at, the abovo price,-,- which should, leave: a handsome profit to' the ; breeders, ; Besides ■ beef,; mutton, . and porjc, the company wiU. export frozen game, .fowls, and turkeys, : in-.which a considerable trade, it is expected,- will bo built up. /' .-

LANCASHIRE,, COTTON. TKADE.

. - During 190? the Lancashire cotton spin-' jiing trado/has been .more depressed than tor many years' past,. and in. this respect: • tho. twelve months just, terminated is-in strong, contrast -to its immediate prede-, •cessors. ■ According .'.to an -analysis of the trading;, results of eighty-two companies' for the twelve months ended November-30 to hand by '.mail, tho total loss is' the' largest for over twenty.-ilvo years back. Sixty-eight concerns .out-of tho eighty-' two have lost money/ and pnly fourteen' announco a profit. Tho amonnt of paidup share capital of tho - companies mentioned" is £3,100,042, ' and the -loan capital' amounts to . £1,206,495. ,;The value of 'the: plant, including; machinery, is £3,975,564:! ,Tho total loss :of the ~ concerns for' tho twelve - months is £239,903. This works out at a loss on share, capital of 7.73 per ccnt.per- annum; whilst on 'sharo and loan' capital combined,: aftior ,- paying;' interest on loans, tho loss .is 5.57 per ccnt. perannum.- Tho average,loss per company is £2925. It may .be mentioned that . last year tho profit ,on share capital was 15.18 per cent.,' whilst, in 1907 the profit . was 33.86. per cent. On sharo and loan capital combined; in 1908 ..tho profit was 11.29 per ccnt., whilst in tho year before it waß 24.57 per cent. During tho past twelve, -months reserve funds have bben 6eriously : depleted, and although: many companieshave. continued,- to pay . dividends out of past profits, some firms have now: adverse balances., .. Spinnor's - of American' cotton havo been running short timo.to the extent of stopping on Saturdays: and Mondays since, the' beginning' of July, - and ;this organised, curtailment of production is likely: to go on until- the end of. February. The margin between raw/cotton-and tho finished yarn is'seriously, on tho .wrong side' at .the present t»me,' and large-losses are .expected ,to ho announced by numerous companies at tho ,ond of December . for the half-year's working.', V -• '--.v, ■ Customs: revonuo, coUected,'at,Wellington •yesterday,; amounted-t0,'£6969 18s. 2d.- ;

TRADE, IX ALLEN STREET.

Tho Hauroto, from Cook islands,. with the usual monthly, shipment, of. bananas and orangesr readied. port yesterday. Included in her transhipments, wero 700 cases of Washington Havel oranges, which come upon l a bare . market. The market is', handling an ..unusual" quantity of fruit just now, for, besides tho above, the NiKau, from Motueka, yesterday.. brought 2700 packages. of fruit, the largest Binglo shipment from Mutt district.' -

Poaches.—These .aro. now selling at verylow prices,:, and house jam-makers have now an opportunity 'of securing supplies." Nectarines (ire coming forward very, freely, but for apricots: the • season is now almost' over. '.

•. Somo-: excellent : greengages ; liavo been marketed Recently,, and. havo realised vory satisfactory prices." . '

Pears.—Farther supplies of Anstraliiingro\ra pears arc; duo, to-day'per Manuka. ' : Messina lemons aro in heavy, supply, and tho'demand is only moderate.

; Black ourrants;' are' off. thb: m'arkot, the' season for them" having ended.':- ' . ': Tomatoes are in large supply, and tho prices, ruling arc low; enough to pleasoi those, who desire to inalio sauceß, etc.

Vegetables—Marrows aro coming In rather, freely, and are extremely difficult

to • quit.'• For -cabbages; the market continues, good, and satisfactory rates .arc being joalised. The demand,is Quito equal to the supply of now potatoes. Lettuces are. in heavy supply, and are realising very low prices. . /

Poultry,—Supplies; aro increasiDg, and prices havo doclined slightly. •Bacon and havo Buffered a decline of one penny per pound all round since Christmas, and aro now, practically •tho cheapest' meat procurable. . :CheeßO.— I The market displays an easier tone," and prices aro lower by- a farthing per pound. ' ■ ••" ' .

Onions.—Supplies from: Auckland and the south- are now available,; and the market lias'an .easier" tendency. Consideriug tlio lmown medicinal virtues of onions it is remarkable that the consumption is not much larger than it is. Wheat continues active, and growers show no ; anxiety to push sales. ' .; m Flour.—Although prices, .liavo advanced in Australia, there has been, no-similar movement in. New Zealand. /

; Bran and Pollard.—The demand : continues good, and fair sales are being made. ■ • •

' Ghafl.—Fair lines of new season's " chaff have reached this market, but tho quality so;far does not .compare favourably with •the product of.last season.!i. (Jocksfoot.—Several samples , of tho new crop havo reached'here, and have crcated a .favourablo impression. The quality is satisfactory, tho seed being bright in colour and cleaner than last season. A large .°mUsh land has been cleared on tho Main' Trunk line, and tho demand from this, quarter is. expccted to be very good.

FEIMKG SIAEKET HEPOET. Messrs. .A. fi, Atkinßon and Co., Ltd.,-ro-port a medium yarding of pigs at their sale. at.-.Bsudug..on'...Friday,.* ;ull entrj. .of poultry, "several good horsed,.-and a large' quantaty of fruit, producoi.and 'general sundries. • Heavy-weight pigs: are difficult of .sale. Light -to medium - porkers, hpwover, sold rather better than last week, .but - axe still picked up ath prices' that, can leave little for tho grower. For weanors there was good competition.'- In poultry tho firm offered fow birds fit for tho table, chicks, and. half-grown - birds making the bulk of the entry. They sold a large quantity of plums, good : sound peaches and apples. Raspberries aro inquired for, and every lot sold immediately on arrival During the week the firm heia a clearing sale, on behalf of Mr. M'Gregor and .sold particularly good-lot'of stuff at top. prices. Quotations: Pigs-Small weaners, 3s. 9d., 4s. 6d. f ..55.; good- sorts, ss. 6d., 65., to Bs. 6d.; slips, and stores. 8s; 3d.,. 9s. 3d., :9s. 6d„ 105.".6 d„. 14s:, .14s. fid.;.porkers,- 1 .165. 6d., 17sr 6d„- 18s. 6d.r 205.: 21s. 6d. Horses: Aged, £3,- 10s.; to' £5 17s. Jd. at each: Hens,. Is. Id., Is. 2d„ Is. 3d., Is. 4d.; cockerels, half gro>vn, 10d.- to Is. 6d.; roosters, 2s. to 2a. Id.: chicks,. 6d.. to 9cLducks, Is. 7d. : to 2s. • Guinea, pigs. Is. 6d. to: 2s.' 3d.'" per pair. Produce: Bran, 4s. 9d.; pollard, 8s;: 6d. to 9p. 6d.; wheat, 55.; maize, 4s. 9d. to 55.: Japaneso plums, ls. v 9d; others, 2s. 3d*'-to' 2s. 6d.; peaches,; 55.; tomatoes, 35.; cucnmbors, 25.; 6d. j-apples, ,45. ; to 65.; rasnberrics, 3d. t por ab.; cabbage, la.-: 9d f potatoes, 4s. •to 4s. 3d. half-cwt.; bags, 7s. 6d. to Bs.; factory/bacon, sides 73d., liams, Bd.

AUOKLAKD GAS.COMPANY. '

(By ,Telegrapti.-Prcss Association.) : 1 . Auckland, January 25. . The dircctorß of the Auckland Gaß Com-pany-have decided to reduce tho prico of gaß by threepence per 1000 . feet, the present price beieng ss. 4d.i less a discount of '10d. a., thousand,' and will 'recommend an increase .' in the' dividend of a shilling per annum.,. The first concession.: ropresents .£6000; a year," £uid'the latter absorbs £2000.