COMMERCIAL ITEMS.

Dominion, Volume 3, Issue 736, 8 April 1910, Page 10

COMMERCIAL ITEMS.

■ .'■ • INVESTMENT SHAKES. ' • Sales of Bank of Now Zealand at £9 Ms. 6d„ and ■Wellington Investment at lis. M., were recorded yesterday. Bank of New Zealand, buyers £9. 145., sellers £9 jm 5o 7 Zealand and Eiver Plate, buyers ~1 18s. 6d.; Wellington Investment, buyers lis. 2d., sellers Us. - 4d'.; Feilding Gas, buyers £1 Is. 6d.: Wellington Gas, £6 15s. paid,.buyers £13 7s. 6d.. sellers £13 12s. 6d., new issue, sellers £2 7s/ Cd. premium; National Insurance, .buyers £!• 6s. 6d.; Gear Meat, £1 paid, buyers £2 135.; Meat Export, £2-12s. ■ paid, sellers £2 15s. 6d.; Wellington .Woollen: ordinary, buyers £3. 25., preference, 50s. p-iid, buyers £2 95., sellers £2 9s. 6d.: ; Wc.3tport Coal, buyers £6 Is., sellers.. £6 ..65.; Lcyland-O'Brien Timber,. Buyers-£1 4s. 6d., sellers £1 ss. 3d.; New' Zealand Paper Mills, sellers £1 35.; Sharlands ordiriary and-ipreference.: buyers £i Zs. 3d.; Taranaki Petroleum, buyers Bs. 3d., sellers 95."6 d;; Ward and. 0b.,, sellers ; £5.

;.;:A. YEAR'S vEXPOBTS-j.', ~' Leaflet No. ~85, issued; liy- the Department ot Industries. and ■ Commerce -gives -the quantities and values of the principal products passed through tho Customs during the year-ended March 31 last, and compared with the previous year the figures show as under:— ;,-, •>- 1910.' ' 1909. ', . ' £ '£ . , Butter .1,635,373 1,422,198 Ohocso • 1,186,708' 865.456 ! Ilecf .»... 545,415 455.012 Mutton 988,373 1,148.034 '.; Legs and pieces ... 54,354 61,556 1,803,640 ■ 1,617.934 ..; Wheat 311,973 583 i ""JV ; ' M8 ' KB 127.630 Potatoes ,„. 3,121 1,837 'I 0™? ' •••■ 372,650 310.364 21 21 gabbits .-. 64,896 ' 51,117 ■ £ow , 22,284 19,673 Kauri gum ..; 540.729 444,309 « ri »n 77,194 34, 1W g?P s .-.■-.. 15,689 5,351 Hides. ;.....-... 219.785 169.367 Skins.. 810,302 586,560 Tallow '-v. 658,274 526,565. ■ Timber 354,186 . 370,116 ™°°1 ■■■■■■■ 7.941,655 5.537,861 : Gold •: ..........,...;...;., 1,992,189 1,942.968 - - '../''. '..' £20,048,449 £15.699.046 , There is shown• an increase of •£4,349,403. which is equal to a little'over 20. per cent. Wool, hides, skins, tallow, wheat, oats, lamb, and dairy produce- show very substantial and it is mo wonder tnat in the country districts there is extreme prosperity,

DBAFT, ON .WOOL. "The Times" in its Commercial Supplement early in February published an interesting article dealing with ' what is known as the "draft" question. At prosent tho : colonial .woolgrdwer allows' the buyer an allowance of lib. per cwt., and ot late the grower has been informed by writers m soma leading Australian papers that there is no reason why this allowance, which, is as old as the trade, should he continued. -.The writer in-"The Times" thinks that Australian selling-brokers had better lot sleeping dogs lie. There is not the slightest doubt that if the conditions of sala.onco go into the melting-pot then the one-eighth of a penny per lb. which the Australian buyer now pays the Australian selling-broker for ' buying the growers wool will be abolished. If tho services which the selling-broker renders the grower be worth tho enormous commission now paid, let tho grower nay tho whole of the commission rather than the buj'er who receives no corresponding service. It is this ridiculous commissibn levied by -the selling-broker which makes his business so profitable)-, and makes him so keen'to secure the sale of the whole Australian clip in the various Australian selling centres. As both the buyers in London and those attending tho Australian markets arc determined to resist tho abolition of "draft," and aj .they are well organised there is every probability that tho proposal will be abandoned.

VALUE OF THE WOOL CLIP. Messrs. Jacomb, Son,.-.and Co.. woolbrokers, of London, write:— ,& is interesting to notice that Messrs. H. Schwartze and Co.,' whoso figures aro always regarded as most, accurately ascertained, gave in their last 'annual circular the approximate average value per bale of the 1909 colonial clip of 2.676,000 bales as £15 per bale. This ntianttty, however, included 380,000 bales of Capo wool, the value of these in London being. £12 per bale. own.estimate of the value of-the Australasian clip was idvcn as £15 103. per bale, and it will bo found that this is accurately borne out by Messrs. H. Schwartze. and.Co.'s figures, viz.:—

2,296,00(1 ■ Australasian, ■'at-'£is per' ...•''-■•'•'. ',^i •■••"!..i.-..i'...'.'..-....:.... : ....v :•.. 'JE35.588.000. 380,000 Cape, at £12 por bale 4.560.0C0

Or a, total of £40,148,000 Growers, however,- will note that of these 2,296,000 bales of Australasian, 1,657,906 bales were sold in colonial markets at an average of £11 6s. lOd. per bale, or.no less than £4-3s: 2d.-bclowtho valuo'to the trade and below the average value realised in tho London market (luring the corresponding period.

THE BISE IN HIDES. . Within the past few months the prico of hides in the London market has gone up 30 per cent., and resolutions have been passed by leather trade associations to put up the price of boots by about two' shillings per pair, 'and the price 1 ' of other leather goods proportionately. The causes of the rise in the price of hides arc variously stated, but probably the removal of the import duty of 15 per cent, in tho United States is the chief reason. It has enabled the American makers of leather goods to produce-more cheaply and so to competo successfully in tho world's markets. This American'demand for hides has also of.' necessity diminished ' the supply of hides for. tanners in Europe, and so raised the price there. Then: the enormous increase in tho use of motor-cars has contributed, as at least three hide 6 are required to upholster a car. The prospect of an early fall In the price of hides is, therefore, somewhat remote.

LEATHER. : The "Shoe and. Leather Eecord." published in London, in its issue of 'February 18.says:—"In Australasian sole leather the shipments received on this side are less than ever, and the mail in this week advises only tho smallest apologies for shipments—two bales, perhaps, of one mark instead of 20, and a few other., small lots. It all means that Australian sides are likely to be dearer rather than cheaper, and that the leather for somo time will be only in sufficient supply to cover the needs of those consumers who have made a speciality of .it .for welted-work, Norwich uses, or machine belting. The ordinary shoe manufacturers who want Australian sole for common or medium class M.S. work are out in the cold, and must turn to American sides for the present, as they cannot get, homo tanned bends cheap enough, and there seems little chance for .some time to come of getting moderate-priced sole leather of farish substance from any source. Some buyers have paid nuite full prices this week for the few shoulders about, and there arc fewer still now to be had. while nothing much remains in bellies except the ordinary lifting stuff, and this will soon be cleared up. No further rounding is being. spoken of, owing to tho high prices of sides."

Customs revenue collected at Wellington yesterday amounted to £2931 4s. 2d. >. ■. TALLOW SALES. .. Uy Telegraph—Press Association—Copyright. • London, April 6. At the tallow sales 939 casks were offered and 870 sold at from Is. to Is. 6d. advances. There is a strong market. FROZEN MEAT MARKET. (Jly Telegraph.—Press Association.) Napier, April 7. The C. C. and D. Company cabled today:—Tho frozen meat, market shows a downward tendency. To-day's quotations:— Mutton: Canterbury, sjjd.; Napier, Wellington, and North Island, 41d. LambFirst ouality, 53d.; second, sfd. BeefHinds, 4jd.; fores, 3Bd. Tho New Zealand Loan and Mercantile Agency Company, Ltd., have received the following cablegram from their London liouec, under date April 6:—"Tallow. We quote present spot values for. the following descriptions: Good mutton, 375. 3d. Dor owt.; good beef, 365. 6d.; mixed, 355. Market active." WHEAT. London, April 6. The American visiblo supply of wheat is 55,829,000 bushels. THE GRAIN MARKET. (Ily Telegraph-Press Association.) Chrlstohurch, April 7. Although, threshing is well forward, ana' under normal circumstances tho grain season should bo at its height, the amount ,of business passing js comparatively small This is attributed, mainly,-to the'foot that tnera, ia ,nn untifiuaJty'large!, proportion. p{-

inferior Brain, owing to the prevalence of rain during harvest. Much of the wheat placed on otter during tho week was seriously discoloured, some had badly sprouted, making buyers chary, except at relatively low figures. Pew liner, o£ primequality have been. offered recently, and, generally speaking, tho highest price obtained has been 3s. 7d. on tracks at country stations, but for.reallv prime tuscan perhaps another penny a bushel could bo obtained, although it is difficult to gango the market, since so very little of this quality is being placed on offer. Tho bulk of lines that changed hands dun™ last week was on a basis of 3s. 4d. to 3s. 6d., but lines badly damaged failed- to find purchasers at a higher price than 3s. Several lines have been taken by speculators during the week, some being sprouted, but as most of this.is Quite dry it is anticipated that later, it can bo shipped and placed at Home-for milling purposes,'tho grain being, very good except that tho flour made from it will bo weaker than from unsprouted wheat. ■I- ■ Firmness in the oat market continues, and really good oats aro very scarce, the bulk offering being more or less weatherstained.