COMMERCIAL ITEMS.

Dominion, Volume 3, Issue 750, 24 February 1910, Page 10

COMMERCIAL ITEMS.

. .;• rSTKSTSIEST SHARES;,', ' ' • :'A ; fair number ;of - transaotions in investment :Bhares: 'were -' recorded, , yesterday.' Salesrworo made'.of: Dank .of .'New Zea- ' land . at; £9 135.,.-; Feilding; ,Gas at' £li, I'b: ,6d.,;and Wellington- Meat- Export,'.'£4 : *paid, |'at'£4' 16s. sKationaKßank; 'buyers : £6, 3b.V sellers £6 " : ssi : ; Bank " : ofv.New. Zealand, .buyers -£9 12s.;;;Natiohal■ Mortgage, 'sellers ,v 2s -' i : Investment,- buyers:lis;, sellers -Hs. 3d.i-Ifatiorial:.ljisurance; buyers' l !'f 1 "S.;.Now;.Zealand 1 Insurance,, buyers ,14s. .6d.; 'Standard' Itiisurancei -:buyers. .£1 ' Qear,'lTeat, £1 paid/, buyers £2 135.: Meat. Export; £5 paid, buyers £6,- £4' paid.' buyers £4 163.; Wellington ■'Woollon,': buyers £3 ,1s.;; Hikurangl Ooal, . sellers £1-45.-6 d. ; '.Westport buyers i £6 ' Is'.'; -:WcstportStockton' Ooal,- teylind''' f l -«. ; ?d, j ;New.; ! Zealand 'Drug,'; buyers' £2 75.;.• ~ £2.:78^» 6d;;'. New .Zealand' i Paper -Mills,, sollera ..£1 V.'flharland's i preference,„ -.buyers i'-£l : /l8.-V6d/; '.Taranaki Petroleum,■ sellers ißs.:}9d.-; ••Ward ; and/Co.; buyers '£4 ' ;135.. Gd.j '. "and Tombs,; .buyeM '£4 195./

■ * Business fair,and .all staple lmesvare - in; good .demand. •; iiusmes's with .the;country .districts'/is:';excellent, but in .the .city and'.suburbs-it'js quiet. . Oarineu fisn,.,owmg. r to the-; Lenten- period, is in good- aemana, out no cfianges in values are to-be recorded. Malaga muscatels.—ln a recent report on the Malaga raisin industry, fI.M, Consul directed attention to the unsatisfactory condition- of -.the' export. trade.Owing to the low price which' continued thrbugaouti the last vintage, farmers generally , complained bitterly, so much so, in fact, that many who haa large tracts of land in the best situations jn the Guadalhorce Valley (which yields the best quality of fruit for the -British market) had decided that their interests would be better served by plantbeetroot, and were going, to uproot their, .fine old . muscatel, vines. .'-The root of,the evil," said'the .Consul, "lies in the fact. that the principal markets of the United -Kingdom refrain from buying at .tho commencement of each season, thus forcing.the poorer' farmers to send'their, fruit on consignment'to London, and,when once this, market, holds large stocks, • the fruit is sold by: auction at disastrous prices for tho local farmer*' There is every indication that-it this course 'of', eyents is annually, repeated the Malaga •raisin industry will, before-many, .years/ become a thing of the' past. The total yield. last year was about 900;000 .-boxes,, or about. a; quarter more ■ than was . expected. • Condensed milk.—According to the Melbourne "Argus," a number of the Australian condensed milk • manufacturers j are endeavouring to . arrange an amalgamation of interests, with a view to raising the prices for this article, and to then arrange selling prices .with the : Nestie's Milk Oompany. ; It, is not ' anticipated;' however, that the amalgamation. will bo effeoted, as .the largest and richest Australian Oompany—the Bacchus Harsh Concentrated Milk Company-is holding aloof, and it is understood that there is- absolutely- no possibility-of its', joining -the combine,, or arranging prices with it- in any .way.' .Well-informed ' authorities are of the 'opinion ( that. even if . the present negotiations were successful, any . increase of .prices wonld "be of short duration, and only. la3t until tho Nestle's Company's factory 'at Warrnambool is completed, and they-are able to manufacture their , milk in -Australia. ' The prices 'now v ruling are barely .payable: to the Australian manufacturers. •

Rubber .—ln their annual review of the rubber :trade ' for .1509," -Figgis and Co. ostimatcd that' 600.000 acrcs v were undor cultivation in tho'East (partly :mixe'd with other products); and 120,000 • acres in Mexico,' West , Indies, Nicaragua, and other parts. The unlooked-for: .extravagant arid unprecctlently high prices obtained for rubber from July to October last.had been dUo t0..-the - great extension of -."motors" cars,. cabs,'etc., particularly in. America, whore ehormous contracts for tyres' had created an increased consumption of ■ rubber. This was continuing, but the bpccu'lathe deals, which left so many'"bears" to. be covcred (at a loss),:ha'd been reduoiSd. Tho highest prico 1909 was' paid' in November—Or. Bid. for fine smoked- sheet. Smoked rubber appeared to' liavo' greater resiliency, And to bo far. more suitable for many purposes than nnsmoltod. "Smoking" prevented- tho "portlens" in..rubber from decomposition, and generally from "tackiness." All fine rubber from Para is smoked. During the . excitemcnt wellsmoked sheet realised 6d. per ..lb. above good unsmoked. Of course such a great difference would not' bo-obtainable', when the.proportion of smoked was larger.' The' Brazil supply had "increased, both' from the Amazorias, Manlcoba, and Mangabpira. The production of reclaimed and common substitutes■'. for rubber had - increased; but 'no "Synthetic." The world's supply in 1909..was about'69,ooo toils, against 65,000 tons 'in .1908, and 69,000" .tons in 1907 Consumption '.was estimated at about 68,000 ton*.

s; . - NOTES.. , ~ , : - «Tho' London • Bankers' • Clearing House returns, for the week, ended ; January 12, 1910, totalled >£246,218,000, as compared with '£244,950,000:f0r -the corresponding week of I?U9. '

!fhe "Shipping. Gazette'.' states that-fig« ; uree aire now available, as'to-the probable payments 'under the Oompen* to the crewiof the liner Wara-' tah; 'whioh' was.-recently formally posted at missing. .The.crew at the timo'of ; ,her hyss numbered 115; and the claims uporr tho. West of England' Steaimship Owners'. Protection and Indemnity Aa* sociation, in which tho> WaraUh. was covered, will, .it,-is- estimated, : amount; ' to' £14,600.,; The, association. states .that this payment. will not; materially affect the calls levied by it, ais. the shipping, contributing to tho association now amounts. to over 3,000,000 tons.-. ; t ; - ".• •••.-• « . The financial Paraguay, .according to the. "Seview of the River Plate,'.' is deplorable, arid "business is, at'a. standstill/ Tares have increased; and a severe crisis . pervades' the ■ country 'from one .end to another..;*A deputy has.formulated a bill:for.4ri issue of 40,000,000 dol. more paper -monoy ,to meet the deficit of :one year.; of, the present, Government. .. To . try: and improve the financial) condition of the Government the Treasurer .formulated,-a plan for . appropriation by the - GoVcrn-: ment of 10' per ccnt. of 'all-tho live .stock in the -oountry. The feelings, of breeders and farmers as regards this, action .can v.cll be imagined, . The Government came in by, forco of armß, due. to - acts ■: of' trea-son-on, tho part, of numerous army ofll;. cials. Since this v advent to: power the more or.less, been in:a state of. siege,. asit"'is ohly .by such' ;strong nieasures' that the Government has- been' able -to -keep. in> offlco. Under 'present- conditions the-outlook'for the country/could not be darker,. as,-it. is • only by .force of arms that the -present Government , can, be deposed. This' is. the region / that' .selected somd years ago as tho site for. a new' 1 '/ • .

There was a considerable increase in the production' of . spelter . last year, as - compared'.with previous periods, according to the figures compiled by . Messrs.. H. ' R.Merton. and Co.* Thoi!returns deal with Europe, the United States, and Australia, and;a. marked advance is shown by tho two. former, t :-Atotal of 535,400-: tons was produced iuEurope ; last year, ■ or some 13,000 tons more than iri 1908. The American 1 output. - t; was; 236,700. 'tons', 'or nearly 50,000 tons 1 more, making'a total of 772,100 tons.' The quantity imported into England rose by 12,500-' tons vto''lo2,6Co tons, tho average i price i'being £22 3s. per ton, as against'. £20 3s. Cd. in' the previous year. - ' < .

■According to the "Board of Trade Journal" the tonnage .of. vessels entered at porta in . thojTJnited .Kingdom-from foreign conntries,. arid British, possessions, with cargoes, during '■ tho ; twelve months .ended" December, 193. amounted to 40,315,942 tons, and tho tonnage cleared t0'57,194,406 tons, as ■ against" 40,189,965 . tons ; entered and 56,609,083 tons cleared during'l9oß; fWith'Te- : gard to the: coasting trade, the tonnage .entered .with . cargoes during' the t; twelve months ended December, 1909,' amounted to 31,381,724 tons, and the tonnage cleared to 30,900,715 tons, as against 30,811,564 tons en: tored and 30,291,125 tons cleared , durinc 1908. ' ■ ' ' .'.

. A scheme having for its object the placing of radium within the reach of medical men who wish to use it for the treatment of. disease has been developed,, and within the neit four months the Uadium Bank of Great Britain will. be''opened in the neighbourhood of Cavendish Square,'¥., The King, > whose'interest in Che scientific researches that have been made with radium is well known,; was , tho first to be notified of the new departure.

Customs revenue collected at Wellington yesterday-amounted to £<1588 10s. 8d; •

WELLINGTON PEODTJOE MARKETS. . Messrs... Laory and Co., Ltd.. Wcllinjtton, leport. wholesale prices ruling on the '.markets-Wheat, 'f0w1.,45.' 3d. to 4s. «a.. reed oats, 2s. 2d.. to ,2s. 6d.; dun oats, 2s. W. to 2s. od.i seed oats, 2s.'6d;> to' 2s. Bd.le fi r i ai L °/' 2s/ "t- P **■ maize, 3S. lid, to 4s. Id.; crushed malt, 7b.; fowl barley, 2s. 4<L 2s. 6d.; :Oapo,barley seed, 2s. 6d. to 25.-9 d.; flour, Ncw< Zealand- £li -55.-to £11.108.,' Australian £11 15b. to £12; •bran, £4 to £4 ; IDs.; - pearl barley, 155.; peag, Prussian blue,. ss. .3d, to 5s .6d.; -split, £17 10s.; 'bonedust, •£5 ilos.; superphosphates,' >£5 . to '£5 w l ' v 1» /' • s '' - lQs.j-basic slag, .£4 lCs.; chaff (oatensheaf), £4 to £4:10s - •oatmeal, .;,to ,£ll, ,10s.; . potatoes' •tabie, £3. to £6 ton; .onions, : 5s cwt.; : molasses fodder, £5; bacon " (fa<> tory), sides 6?d., hams . Bd., , rolls nd '* butter,, prime bulk, t 9d. . Poultry: Hens' 35.; ducKß, 3s. 6d. to,4s.<6d, per pair; turkeys, gobblers, lfls. to 205., hens 10s. to 145.; . fresh • eggs, Is. , 6d. ;to Is. 8d dozen; preserved eggs,, Is.' sd. .dozen; cheese, 5d.. to 52d; per. lb., loaf 6Jd.Akaroa' machine-dressed - cocksfoot, 6d to 7d. per lb.; farmers' dressed cocksfoot.' 4d. to sd. per lb.;'ryegrass, 3s. 6d. to 4s. 6d per bushel; Italian ryegrass, 3s". fid; to 4a. 6d. per bußhel; white clover. 70s.' to 755. per cwt. ' . ' ' '

/; .WOOL, HIDE, . AND TALLOW. SALES, i&leetr'imd Co., Ltd., Blenheim, report holding ..thoir, monthly , wool .'**■ and hide sale'yesterday, when'they, offered a good, catalogue to: a. large: •attendance of buyers.Biddmg_was. keen and spirited and prices y.sUowei a:'considerable improvement on last sale, which was held Tn December. Prices 'ran Crossbred : fleece, Md'. : lambn, earthy, 63d': lambs, crutchings, 5 pieces': 6 burs Samnrf'- e, hin 3l i' ; 'W.-j dead7Jd., black, 6Jd.; bellies and pieces, 43d • lambs, crutchings, .'5Jd. : staiied pieces' full ' wool si: to m.; ctOTsbred .full wool,, BJd. to SlSfino -ewssbrcd,..'«d; -to 83d.;:. merino fail wool, 7id.; monno half wool, sid.; crossbred quarto ; wool, 4Jd. to sjd ; ; SS Quarter wool,. 53d.; dead * crossbred ■ fiw . damaged crossbred, 6d. : Si- ! ,second;pelts, 3}d.;, picces 51d., black, lambs, 3s.- creoii WUrt&fc'!&• STeen ful > *«sTte ??v. , 6, 6-Bd.covr, 6 3-8 d;: vp.n,r. lyigs, 6.2-6 d.; calf, \ 58d;; dead, 4jM Pat rendered, 13s. -to'.2os. ~3d.:" roueh n a m to. 15s. -Tallow, in shipping order, .£24.' '

: PBIOEB OF, HETAIiS; ' By Telegraph—Prw Asßodation-T-CoDyrteht. * February. 23, 8.35 p.m.) • % London. February l 23. • Copper.—On the spot, £59 7s. '6d.; three months, £60 ss. per tou. ■ Tin.—On the spot, £151 17a. 6d.; three months, £153 7s. 6d.. per toil. WHEAT. • ; (See. February 23, 8.35 p.ni.) . .... London, February 23. 39s D 6d ° cargo of wb .eat sold, at . . • CAKTERBUKY GBAIX MAItKET. (By Telceranh.—Press. Association.) . . ', Chrlstchurch, February 23. Thore is " good inquiry , for all sorts of oats, and, owing to v tho small consignments, prices are firm. The demand is chiefly for local consumption owing to J}™)?? b S"! s very much above shippers" limits. Prime milling,. Is.. 9jd. to ls. ioid.good to best .feed, ls.,Bld.\to Is.'9!d • inferior to medium, Ib. 6d. to ,Is. 7id.Vper bushel. Wheat: There is not very much business passing,. owing to growers' ideas of _ value being- somewhat above ruling prices. There is fair demand for prime vehot and tuscan.' Prime milling, 3s. iOd. l s J ■M d "V medluin to-good, 3s. 8d; to jf' u St . wl ? ol ° J fowl^ ''wheat,-' 3s. 7d.. to 3s' 4d n anii - da ® n eed,' 2s. i6d,' to