COMMERCIAL ITEMS.

Dominion, Volume 3, Issue 744, 17 February 1910, Page 8

COMMERCIAL ITEMS.

INVESTMENT. SHARES. No transactions in investment shares wore recorded yesterday. National Bank, buyers £6 la., sellers £6 3s. 6d.: Bauk of New Zealand, buyers-£9105., sellers £9 Us.;' JJow Zealand and River Hate, buyers £1 15e. 6d.j Wellington Investment, buyors lls., aollera lls. 6d.; Wellinuton Trust and Loan, buyers £7 25., sellers £7 4s.;.Welliueton Deposit, nellcre Ba.; "Christchurch Gas, Bellsrs £10; Feilding Gas, buyers £1 Iβ. 6a.; Christchurch Meat, buyers £11 7s. 6d.;'Wellington Moat Export, £5 paid, sellers £6; New Zealand Shipping, buyers £7.125. 6d.; Hikurangi Coal, .buyers £1; Taupiri Coal, sellers 19s. 6d.; Weatport Coal, buyers £6, sellers £6 Is.; Westnort-Stockton, buyers 7s. 3d., sellers 7e. 9d.; Leyland-O'Brien Timber, buyers £1 35.; 3d.; Taranaki Petroleum, sellers 9s. 6d.; Ward and Co., buyers £4 12s; 6c1.; Wellington Opera House, sellers £7 17k. 6d.; Whitcombo and Tombs, buyers £•1 19a.

■THE WOOL TRADE..- , A marked feature of the wool trade is the steady expansion 'in the quantity offered in local markets. There, arc obviously many advantages to tho wool-growers | to market their clips locally. There is the advantage of prompt settlement when the wool is sold, which must moan a great saving in interest, and the saving in time must also bo appreciable. Evan should the wool not sell locally, tho farmer has tho option, of shipping to London. , The importance of the local, sales is being recognised .by foreign buyers,'and every year sees'an addition to the number operating in Australasia. It may bo safely assorted, that most of the wool sold in thn Australasian markets is -bought for the manufacturers or ■ consumers, as they' may be rightly termed. When values we compared, colonial prices are well up to London parity, and in many cases above same. . .-.-.' The statistics compiled by Messrs. Daleety and Co. show that the wools sold in Australasian markets, during" the . seven months to January 31, exceeded the total for the corresponding period-'of the pro-, vious year by 132,101 bales, equal- to about 10 per cent. Of tho total estimated clip, already!about 65 per cent, has been.offered locally, ■ and before the season closee tho percentage should he very much -larger. The quantities sold in the several markets compare as under:— A ■'■ . 1908-9. 1509-10. ■ Bales. Bales. - Sydney '555,700 525,329 JMbourrio '266,244 345,768 Geclons .■--.: 1M.873 . 103,218 . ' Adelaide ............ 134,151 ' 143,114 :- . Brisbane':-;:.: 102,129 116,068. ' Tasmania ,- 21,052 , . 17.CC0 •' New Zealand ...;:.... 159,992 . 222,548 ~ • ' ■.■■.. •' ' 1,340,941 . 1-.473.045-Sydney ehows a dccreaEO- of 50,371 bales, while Melbourne exhibits an. increase of 79.524'ba105, aud it is obvious that tho.lattor's large gain was obtained at the expense of Sydney, where the; sales were, postponed through trouble with tho buyers. -.. BIVEE PLATE WOOL. \ .;:. ■Exaggerated reports of 'the' drought in Argentine have obtained currency, and recently a cablegram was said-to have been received at Bradford from. Buenos Ayres etatins that, on account- of. tho severe drought which prevailed in a portion of tho Province of Buenoa Aires for some months iip to ■ September loot; the exports of wool from the Hirer-.Plate during-the present season will.be less by 22i-per cent, than' thoy were during the-previous ■wool year,, which ended. on .September 30. The "Manchester Guardian,", in. dealing with this matter, saya:—"The exports from the .River Plate for that season amounted to 557,000 bales, of which 107,000 bales were from "Uruguay. 66 if this news were true tbe 'falling .off in tho wool oxports• from the Etver Plato 'would amount to some 125,000 bales. Now it ia worth while to rockon out what this, means. If wb- suppose, that no wool was recovered from the sheep which. have died, • it would appea/ that no fewer than 11,250,000 sheep were destroyed. . But as from -eight to \ten months' wool was upon the ; sheep, and as the wool, would bo recovered and exported cither.' as slipo • or : dead wool, it /would probably-mean that at least 15,000,0CQ sheep died-in- this district- of. Argentina..., It- is impossible.!--, Practically only, or.e portion of-one'province of Argentina;' has. been" affect»d by tho.drought, whilst Uruguay has had one of the host seasons >on'record.- A traveller, who' recently - returned -i-from Argentina journeyed 1 for more than a thousand miles in tho Eepublic and saw. nothing and hoard, but .little . about this drought. . Ho" caw vast■■' herds of, magnificent cattle flocks of sheep in the'pink' of condition, and hehoard both in Argentina and Ohilo that in Southern Patagonia and- Ticrra del' Fuego 'a .veritable 'sheep boom' -was on. Increased supplies' of what is , known in the trade ns Punta: Arenas wool may therefore be oxpected.'. The.circulator of the cablegram to which, .we have reforred, when ho put .down , the • decrease in shipments at' 125.0C0 bales;- evidently for : got that-each bale of Eiver Plato wool contains about 90 fleeces." -.:■'■ -. . .

-' '. IMPOET MABKETS. ; A fair amount of business is.passing between merchant and retailer, but there are no outstanding, features iu .tUe situation. Yesterday's conference is expected to result in general good, , and possibly there, may bo annual gatherings of this character. Arrowroot.—Supplies are practically unobtainable,-' and 'this condition, of- affairs is', likoly to continue-. for some . months. Prices are.firm.'-'- ' - : . . . . . • .-. Salmon.-: The. American market is rather, short of ".supplies;' ~and .higher'- prices ■' are Ijkely.to rule in the near, future..'' .:. Eaisins.—Eeviowin^'the",London: market for raisins tfie "Grdcor , ' wroto that tho' new crop arrived. during': May, but tho high prices asked resulted in a very small trade beine done.. ■ Opening prices wero ' 38s. to 425. Heavy consignuionts of old fruit ca-me to hand, and sold well at His. to 26si Further 'arrivals of .new took place,'but prices asked were too high, as compared with Valehcia raisins,' and subsequently fine dualities. sold readily from 265. to 30s. At these prices a Rood trade followed, and the whole of the stock imported had been oleared up. . ■ Canned : Pineapples.-Owing to the high prices ruling in the centres of production, these -goods are. practically out of the local -market. > ... . Indian Te».'-Beviewins the past_years trade tr Indian tea, the liondon Grocer considered that IM9 was the most successful year ever ..'experienced both from a planter's and consumer's point of view; while distributors, if they had not. made very much, had not'suffered losses from bad stock. The season of 1908-9..ended.up with a crop of 7,500,0001b. over thei, previous vear and England, commenced the year with i" stock of 77,750,0001b.. as against 76,000,0001b. in. the previous year; Lastyear's crop came in early, ana- by January the whole of the surplus had been received. Therefore, tho year had begun well-only 1,750,0001b. added to, stocks, although 8,000,0001b. more new crop had been received Opening rates last. year woro (luitcld. over the previous season. . For the first two or three months of 1909 the new crop came in slowly, and was several million pounds loss ithan the previous sea-son-hence a ready marliotr-nrm rates for low-priced leaf, strong and full prices for »ood.and medium grades, while finest, as. usual, realised extreme values. . About October, however; medium grades declined eharply; and the drop was not arrested until the end of November. Telegrams in October-November intimated a . probable larger crop of Irom 6,C00,0001b. ■to 10,000,000 lb and arrivals in November, showed an increase of nearly 6,CC0,0001b. over the same month last year, with the; expectation of several'extra millions to come in in December. Naturally, everybody expected o, slump, with such heavy weekly, supplies; but, on the contrary, tho sales in Novem-ber-December went even stronger, except for a. weakening of Jd. nor U>. in common leaf, and the year ended with a very confident feeling.. . ' : - Bice.—Owing-to the heavy.crop harvested in Japan, the Japanese quotations have been much lower,, with the result that tho rice • millers of Australia have had ,to reduce their prices to meet the compotion.. ■■-..'. " ; - '

Turps.—The market for turnentine 'duringl9o9 took an entirely different-'■ turn from what was experienced in the provions year. In 1908. stocks had accumulated, in the United Statee, and prices were forced down below cost of production through the competition of rival interests. Bears also for the time got control of the situation. Quotations, however, last year had been on a materially, higher basis, with a decided faUing-off in shipments £r.om ' tho United States, which resulted in the heavy stocks" hold in England being ■ greatly diminished. Price? at. Home had varied considerably, changing according to tho speculative interests at work. Americau spirits opened 1909 at 305., but by March' had - receded to 265.; but from this point the tendency was in the other, direction,, and in, Juno.the'market was consiuerably excited, advancing 3s. 6d.. in one week to 335. 3d. During the following months tho outlook. remained unsettled, but always with prices slowly creeping up, and in September thero. was another sudden-rise of Jβ;'to 435. 3d.;, but .since then prices In tho United States had denoted weakness, and quotations wert! the turn lower down

to 395. 4!d., rutins for American spirits, which closed the year at 40s. 6d.

Timber.—"Australasian Hardware and Machinery," in its issue of February 1, deals at some length with the acute depression experienced, in the timber trade in Sydney, owing lo the coal strike. Millions .of feet of Oregon, redwood, and Baltic have been landed in JohnstoneV Bay, but chiefly bearing the words, "for storage only'." As the journal points out. no bricks means little consumption of timber. Merchants have been > hanging off, and refusing to purchase beyond what was necessary for immediate rco.uircmenta. The hardwood vend is still adhering to its flxed prices, and so, too, the lately reconstructed merchants' combine. ■ Possibly the-present strenuous'position may either cause one or both to relax. Ths purchasing capacity has suffered,. and it is a wellknown fact that many architectural undertakings in and around.Sydney have been abandoned through the present unsettled conditions of trade generally Never in the history of Sydney-prior to the strikewere the prospect 3 of builders and merchants more bright, bet this buoyancy has been suddenly checked by the misfortune of both strike and flood, yet withal the public are viewing the matter philosophically, the pinch of want not having on-' tered the' home of the provident worker or-the fairly-well to do. aiany Mβ contracts are now "hung up.", and unless strike penalties have been provided for heavy losses will be. inevitable. Export trade is also . Quiet. ■

CO-OPEKATIYE BUILDIKg' SOCIETY. A meeting of shareholders of. the first and second issues of the, City. and : Suburban Co-operative Building.-Society was hold in the society's offlco (llesers. Gualter, Dykes, and Co.), last' evening, when an appropriation by ballot and sale by tendor was submitted. The ballot in the first issue fell to Mr. A. Andrews, who holds four shares, thus entitling 'him .to a loan of £400 free of interest. The appropriation in the second issue was sold to Mr. A. T. Smith for: tho sum of £12 10s. per

■ WELLINGTON MABKET EEEOOT Messrs. La*'ry and Co., Ltd., Wellington, Report ' wholesale prices - ruling on the market:-Wheat; fowl:4s. sd. to 4s. Bd.; feed oats, 2s: 2d. : to 2s. 6d.;'dun oats. 2s. 4d. to 25.-6d.;,seed oats. 2s. 4d. to 2s. Bd.; algerlan oate, 2aV 4d. to 2s. 6d.; maize, 3s. lid. to-4s. Id.; crushed malt, 75.; fowl barley, .28. Ai. .to 2s. Gd.; Capo barley 6eed, 2s. 6d. to:2s. 9d.; .flour, New. Zealand £U ss. to £11 10s., Australian £11 15s. to £12; bran, --£4. to £4. 10s.; pearl barley, 155.; peas,. Prussian blue, ss. 3d. to ss. 6d;; fowl'peas, 45.; split', £17 10s.; bonedust,. £5 155.; superphosphates. £5 to £5 55.; po)lard,£s 55.-to £5 10s.;. basic slag, £4 10s.; chaff (oatensheaf), £4 to £4 10a.; oatmeal, £11 to £11 ■ 10s.;' potatoes, table, £3 to £6 ton; onions, sa. cwt.; molasses fodder,' £5; . baeou (fafr' tory),.--sides'63d.,. hams-"'. 7*d.. rolls 7Jd.; butter, primo. bulk,- 9d.' 'Poultry: Hens, 35.; ducks, 3a. 6d. to 4s. 6d. per pair; turkeys, gobblers,' 18s. to 208., hens 10s. to - ,145.;. fresh OEg3, .Is. 6d.-to' Is. Bd.'.dozen; cheese, 6d. to 6Jd.- per lb., loaf 7d. to 7Jd.; Akaroa machine-dressed cocksfoot, 6d. to 7d. per. lb.; farmers' dressed. cooksf oot. 4d. to' sd. ,-per. lb.': ryegrass, 3s.' 6d. to. 4s. 6d. per'" bushel;- Italian ryegrass, 3s. 6d.,t0 <s. 6d, per-bushel; white' clover, 705.-to 755. per cnt. •■ . ~.■ , - ' . Custom's revenue collected at Wcllington yesterday amounted , to £2255 18s. 4d. ■ WELLINGTON WOOL SALES. ADDITIONAL REOKEE'S EEPOET. The New' Zealand Loan and Mercantile Agency- Company, Ltd., report operations at the Wellington 'wool .sales, held on Tucbday* as follows:—We. catalogued for tho fourth sale of tho season 2070 bales,, tho bulk of whioh was sold under the hammer. Buyers were in full attendance and bidding waa brisk: -Merinos and flno erossbreds were, wo found, sbmewhat easier than was'.tho cose.at the. January sales, but tho coarser-wools were higher by sd. to Jd. per lb. Skirtings were not in such keen demand as at' the January sale, but nevertheless sold at full prices. A feature of-the-sale was the -largo quantity of lambs' wool brought forward, and the keen demand for same. The 1 bulk of the fleece wool offered was from ' the bush country, .and consequently much, of it was log-stained. '•■ ■■;'-. i'- • •' : Some .'of our most noteworthy sales wore as' follow:—AGT, Eomney lambs, H3d.; JIIH,. coarse crossbred hoggets 9Jd., ewes 9d:, lambs Bd.; WP over H, crossbred lambs, lljd.; Awapirip'iri, medium crossbred, B|d., 91d.,.10d., lambs 10d., pieces and bellies: 7Jd. ; ,TS over Wainuiomapu, fine crossbred ~lHd., Mid.; Lincoln cross BSd; to 9Jd., lambs 91d., pieces and bellies 5Sd. to 7id., rams', 10d.'; Knwabata, Lincoln cross, , 83d. to. 9Jd.; Woodside,. medium crossbred B}d. to 10d., pieces l and' bellies'"6d. to" "!&'.<•;' 'Makuku;' coarse crossbred/ 83d. to IOJd-: AS over M, crossbred lambs,-. <Ud,; YY, fine crossbred IOJd,, halfbred llid.; Opeke, Eomnoy cross, 9Jd. to 93d., coarse crossbred 9d., ■ bellies and pieces 63d.,. lambs 10d:;'T over:WJG, coarse crossbred Bd. to 83d.;. WB over Kawhatati,' medium crossbred dingy 73d. to 9Jd., coarse "crossbred dingy 73d. to Bid.,, lambs' lOid.; P • over Tividale, medium to coarse crossbred 9d. to 9Jd., belliea 63d. to 73d., lambs.lOJd. to. 113 d.; Taumata, crossbred lainbs, lid.; TT over T, lambs, 12d. Tho ranged of prices a-B cbmpare'd with ■January sales is ,ae follows:—' .^

."'' ' '■' . .■' January. February. ■: . ■■..'.v ■■•■■■"-:;■ -d. •■ d. •a. d. Halfbred medium ....,;. 101 to 12 }0-: to ,U» Crossbred euper .......... 101 to Ui "lji to 111 Crossbred' modium .... 9 to 10} .9 to 10} Crossbred inferior ...... 71 to 9 Tito 9 Looks, bellies and •' ; , ; r "'■'•■.-. ... ■pieces ..: 41 to i\ 4 to §■ Orutchings. .....;:.. 41 to 6 5--.t0.-6J ! •..'; ; ■■■■ PEOPEKTT SALE. '': ; : ; Messrs. Harcourt and ; Co; report having sold the property,. No. .27 Brougham Street, as recently: advertised for gale, * at' tho upset price-Tiz., £1600. The .property, was disposed o£ owing 'to ,tho owner's transfer to Tiinahi.- The purchaser is;a well-known, local'.resident. . .-.'.-,.- , ■