COMMERCIAL ITEMS.

Dominion, Volume 3, Issue 801, 26 April 1910, Page 8

COMMERCIAL ITEMS.

INVESTMENT SHARES. - Business in investment shares was ouiet yesterday; the sales recorded were Wellington Gas, £6 15s. paid, at £13 7s. 6d., ami Leyland-O'Brien Timber at £1 4a. 3d. There were, plenty of buying orders, but holders arc not. easily persuaded to t sell. National Bank, buyers £5 lis. 6d.; Bank of" New Zealand, buyers'£9 145.; Wellington Trust and Loan, buyers £7 25.;.. Fcildins Gas, sellers £1 25.; Wellington Gas, £6 15s. paid, buyers £13 55.; sellers £13 10s.; Christchurch Meat; buyers £11 IDs.:/Gear Meat. £1 paid, buyers £2 135.: New Zealand Shipping, buyers' '-£7' 155.; Westport Coal, buyers £6 65.; Leylaud-O'Brion Timber, buyers £1 45.; New Zealand Drue, buyers £2 75.: New Zealand Portland Cement, buyers £2 2s. 6d.; Sharland's preference, sellers £1 23. fid.: Taranaki Petroleum, buyers 13s. 63., sellers 14s. 3d.; Ward and Co., sellers £5. " THE COTTON CRISIS.'' The failure of Knight, Yanocy and Co., the American. cotton, brokers*, may or may. not lead to serious results. It is doubtful whether the extent of the frauds arc fully known. Howover, it usually happens that one bis failure of this character wreckß a number of other houses, and the cotton crisis; may easily become a very.serious matter. There is also the point as to what effect will be produced on the industry by the disclosures.' So far as Manchester is concerned, tho effect oucrht not to be very serious, for it is claimed that sum-, ners are in possession of large supplies.. Mr. William Tattersall,- in his monthly cotton trade circular for February,. comments on the difficulties which spinners were .experiencing owins to the fluctuations "in the price of raw material. : io points : out that the oast year ended with middling snot American in Liverpool at 8.50 d„: this being the highest-point in 19"9. Thero'was soon a decided drop, for during the first week of January quotations foil 45 points. Then prices advancbd again, the rate ;ori January in beinpr 8.32 d., fallincr the day after to 7.98 d.; values further declined- to. 7.56 d. on the 21ef ultimo, the month', closing: at 7.68 d. ' February has shown. constant fluctuations. On the Ist instant the figure was 7.73 d., rising to 8.19 d. on tha 14th instant, and receding to 8,05 d. on the 17th instant. It will be seen what an irrcjrular (time spinners have experienced!, They have bought larger supplies than usual, it being understood that today they are moro than covered, many firms: "ha-vine thous/bt it good policy to be "long." Opinions in Manchester vary a good deal as to the nrohable output of the cropi -, some still thinking that after'all -the' yield will not be far off 11,000,000 bales.. There are others who pin their faith to an output of 10,500,000 bales. In any case, the prospects for. users are rather harassing. -,-',-•

THE MARKETS. Tho London wool sales open this evenins, and it is fairly certain that there will, bo a slight reaction in crossbred wool.. The movement, if it eventuates, may be regarded as normal, for during the next two months Europe will bo. handling its own clip, mainly of crossbred wool, o,nd for the time, therefore, that class will he in ample if not excessive supply. Butter, it will be seen, has declined heavily, dropping about Ms. per cwt., and here again- wo have a normal movement. There was a sharp advance a few weeks aso. owins:' to an extraordinary shortage, but the climatic conditions brine; now favourable supplies from the Continent are coming in freely. This drop in London should operate to the advantaEe of. local consumers, as it is likely to see butter maintained at a moderate price this winter. A- reduction in; the' wholesale- price has alrea-dy taken place in' Sydney. Tho market' for frozen mutton and - lamb ~is weak. Supplies of mutton, are increasing, while tho supply of lamb exceeds the demand. Prices must fall a little,-! and if holders have profited by the exporieocos of last year they will meet the market and get the meat into consumption, instead of holding it in store and waiting for an advance. Home sunplies of fresh meat must now begin to have a .'direct influence, on frozen and chilled meat. Customs' revenue collected at' Wellington yesterday amounted to £2730 9s. 9d. AUSTRALIAN AND NEW ZEALAND ■"..•.- MORTGAGE CO. l)y Telocranh-l'ress Assonbtion-ConvrlchL London, April 24. The Australian and N?w Zealand. Mortgage Company, Ltd., shows a balance- to credit of. profit and loss of £763. FROZEN MEAT. I)y Telegraph—Prea's Association—Copyright London, April 23. The Frozen Meat Trade Association's Smithfield market quotations, for the un- 1 dcrmontioned classes of frozen meat are based on actual sales of not less than one hundred carcasscß of mutton or lamb, and twenty-five quarters of beef of fair average quality. The quotations are not for selected • lines, but for parcels fairly : representative of tho bulk of the • shipments now on the market. Tho prices which follow are on an average a farthing per lb.' moro than the value ex ship, this difference representing an average cost in expenses, handling, couveyanco, and selling: tho meat:— ■..•■' April 16. April 23. Mutton— d. -'0.. Canterbury, light 41 4 Canterbury, medium ; 4 3-16 4 Canterbury,, heavy. — . 33 Southland - .'..... — . — . North Island, best ' 41 3J North Island,' ordinary... 4 - 33 Australian, light .:..-. 33 31 Australian, heavy .;.. 32 —- ' Eiver. Plate, light 33 33 Eiver Plate, heavy — •" 32 Lamb— " Canterbury, light 5 3-16 51 Canterbury, medium — — Canterbury, heavy — , — Southland — — North Island, selected ... 5 415-16 North Island, ordinary... 43 413-16 Australian, best 43 • 43 Australian, fair 4g . 4J . Australian, inferior 41 — Eiver Plate : 48 .— Boef— '. ' New Zealand, ox fores ... 3S .38 New Zealand, ox hinds ... $h 41-16 Australian, ox fores ...... 31 — Australian, ox hinds ....;. 4 — River Plate, ox fores 35 ' — . i Eiver Plate, ox hinds ... 41-16 4 HIGH COMMISSIONER'S CAiLE. The Commerce Division of the Department of Agriculture has received the following cablegram, from tho High Commissioner, dated London, April 25.— Mutton—The. market is weak. 'Sale is dull for all qualities, and supplies are -increasing,' Average prices: Canterbury, 4d. per lb.; North Island, 33d. Lamb—Tho market is weak and inactive. The supply exceeds the demand, ana holders arc anxious to 5e11... Average J

prices: Canterbury. sid. per lb.; other, New Zealand, 43d. Ueef.—There has been no alteration in the market since last week. Butter.—The market is temporarily depressed. Some holders are forcing . sales, tut the market hn> been bare of New Zealand supplies. Buyerß are cautious, as tho season is too far advanced. Average prices: New Zealand ' choicest, ■ 114s. per cwt.; Danish. 1205.; Siberian, 1145.; Australian and Argentine, 110s. Cheese.—The market is auiet; small business doing. Average prices: New Zealand finest white, 61s. per cwt.; coloured, oys. 6«. Hemp.—The market is not quite so firm. Spot prices: New Zealand good fair, £24 10s. per ton; fair, .£23 10s.; Manila fair current. £25: Forward shipment: Good fair, £24 10s.; fair, £23 10s.; Manila, £23 10s. The outnut of Manila for the week was 24,000 bales. Wheat.—Tlie market is quiet, and prices slightly weaker. There is no New Zealand on hand. Oats.—The market is quiet, with a tendency in favour of buyers; there is less demand. New Zealand sparrov/bills. on snot, ex granary, 19s. per quarter of 5541b.; New Zealand Danish,' 17s. per auartor of 32Mb. Peas.—The market is steadier. New Zealand partridge, 555. per 5041b. Beans.—Tho market is firm, owing to reduced supplies. New Zealand, f.a.q., old crop, 395. 6d. per 5041b. ;