COMMERCIAL ITEMS.

Dominion, Volume 3, Issue 820, 18 May 1910, Page 8

COMMERCIAL ITEMS.

INVESTMENT SHARES. , A sale of Leyland-Q'Brien Timber shares at £1 Is. 3d. was all 'the business recorded yesterday! Dank of New South Wales, buyers £44 10s.; Equitable Building, buyers £9 55.; Wellington Trust and Loan, buyers £7 2s. 6d.; Wellington Deposit, buyers 7s. 9d.; National: Mortgage, buyers £3 3s • New- Zealand Loan and Mercantile, sellers 125.; Meat Export, third issue, buyers £2 145.; New Zealand Shipping, buyers £8; Union Steam, buyers £1 135.; Hikurangi Coal, buyers £1, sellers £1 Os. 3d.; Taupiri Coal,, sellers 19s. 9a.; Westport Coal, buyers £6 55".; Westport-Stock-ton, sellers,7s. 3d.; Donaghy Hope and Twine, buyers £1 4s. 3d.; Leyland-O'Jlrien Timber, sellers £1 4s. 6d.; New Zealand Portland Cement, buyers £2 3s. 6(1.; fiharland's ordinary, sellers £1 Is. 9a.;' Taranaki Petroleum, sellers 13s. 9d.; Taringamutu Tolaru, Sawmills, buyers £1 25.; Ward and Co., buyers £4 15s. 6d. OILFIELDS OF NEW ZEALAND. By the last English mail the prospectus of the Sew Zealand Oilfields. Limited, came to hand. The capital of the com-pany-is £200,000 divided- into 2.000,000 ordinary sbarcs of 2s. each. Applications were 'invited for nnc million snares. 701),000 of which were underwritten, and this latter included 500.0C0 shares for working capital. The company has-been formed to acquire lorly-four concessions, extending over a total area of some 147.90 D acres or about 230 sciuare miles, situate near Glsboruu. In the prospectus the following memorandum on the occurrence of petroleum in tne Hawke's Bay district; prepared for the company by Sir Bovertoii liedwood, and his colleague, Mr. W. 11. Dalton, appeal's, nud Is ralhci interesting:— "Some of the many exudations of petroleum and gas in the Ilawke's Bay district have been known for more than forty years, «nd several attempts have been made to exploit the oil-bearing beds of which they attest the existence. The failure ot these to establish, commercial production'of,-oil has resulted from various causes, ignorance being a preponderant element in all. .Haphazard selection of.drilling-sites, with little or no perception of the nature or structure of the beds to be penetrated, or of the probable depth to oil-bearing rock, if present; unsuitability to local conditions of the systam of work adopted; inadequacy or inferiority of material employed; lack of technical sHill to combat ' difficulties encountered, and want of knowledge in other directions, have courtcrt (and generally won) failure In even the richest oilfieldK. "It Is hardly necessary at ibis date to mention that oil taids to collect in upward flexures or arches of the beds, 'anticlinals,' desertinp; the downward flexures or troughs, 'synclinals,' in which associated water accumulates, this separation and concentration dividing the area of the oil-bearing scries of beds into productive

streaks or 'pools,' and barren intervals. In a region like Hawke's Hay, consisting of several independent geological formations, llexuml m complex wanner, at periods involving the earlier deposits, but prior to ills later ctillerentiaiiun of the areas of the formations, and delineation ot the flexures is u process necessarily preliminary to any rational attempt at selection of points for .drilling operations in search of petroleum. "It is already known from published and unpublished reports (by authors of very diil'erent scientific calibre, to bo read with correspondingly reserved acceptance in points where deduction rather liian observation is the determinant factor) that several well-marked anticlinial lines traverse the whole region, more or less, In a. north-easterly course, but curving to and fro; and doubtless varying also In degree, from sharp fold to slight undulailoii. The dciiiui'cuUiiii, ">h maj/n ul adequate scale, of these lines of flexures, iiAd their connection under shallow deflrst step, to be taken; the selection of suitable drilling sites will follow as deduced from tlie data collected, and each boring, whether productive or not, will afford a basis for. decision on further procedure, by supplementing the external ovidenct. "From our general knowledge of the district, wo are of opinion that, with careful selection of tho sites for the wells proposed to be drilled, there is a good prospect of finding petroleum in commercial Quantities." MARCH IMPORTS FEOM HOME. The following is a return of the principal lines of. goods of. British manufacture exported to New Zealand during the month of March, 1910; also for the quarter, ending .March 31, with the figures for 1909 shown for the purposes of comparison. Compiled from the Board of Trade returns:— Month Quarter • ending ending March 31. March 31. 1909. 1910. 1909. 1910. £££ ■ £ Beer and ale ... 4,190 3,238 9,196 7,825 Spirits 19,444 17,152 49,531 44,808 Iron and steel thereof " i 64,012 103,394 196,382 230,796 Copper, wrought and mauufac- i . tured 1,933 2,264 10,027 6,746 Cutlery 2.146 2,462 5,546 7.223 Hardware 6,898 8,672 24,103 25,526 Cotton . piece goods of all kinds 36,185 35,955 155,172 158,376 Woollen and factures 14,884 15,714 90,681 97,590 Haberdashery and millinery 3,639 3,924. 17,630 17,059 "ures ma " U .. a .!'.. 3,12 a' 2,430' 9,007 8,312 Linen piece goods of all kinds .. 5.462 6,734 23,705 25,813 Appnrol 17.K6 21,965 143,506 150.59G Boots and shoes 12,058 10,033 54,535 52,255 Saddlery and harness 2,418 -3,005 6,776 8,058 China and earthenware 7.080 9,604 22,798 21,561 Writing and printing paper 11,890 11,305 28,197 28,440 Cement 2,112 1,439 7,336 4,711 Stationery other than paper ... 3,366 3,042 9,775 9(670 CUSTOMS REVENUE. Customs revenue collected at Wellington yesterday amounted to £5679 18s. Bd. I. . TRADE IN ALLEN STREET. Potatoes have advanced considerably duting tho past fortnight, and growers are now ■ asking 15s. per ton advance on April quotations. Onions.—Since.the last report there has been an advance of ss. .per ton, with good business doing. Supplies, however, coutinue fairly heavy. .Cauliflowers. arc in short supply; for choice 10s. to 12s. per sack is obtainable. . Marrows and pumpkins- continue in heavy supply, and lov: rii'tfi have to bo accepted to quit consignments. French beans, green peas, and celery are in good demand, and high prices arc being realised. Parsnips and carrots meet with a fair demand, and prices range from 3s. to ■Iβ. per sack. Ksgn. The market, is over-supplied with fresh eggs, and it would not be surprising during next week. The supply "of preserved eggs is fully enual to the demand. Butter.--Prime pastry is in exceedingly short supply, and prices now range from 9»d. to 93d. for prime' bulk. Poultry.-Pulletß arc in demand at 4s. to 55.; the other sorts arc without any alteration in values. Island oranges.—Exceedingly heavy shipments arrived by the Mokoia direct from Karolonga, also shipments from Mangaia, Aitntaki. ex Talune, transhipped at Auckland. The Talune reached Auckland i:, time to connect with the boat leaving the northern port on Saturday, but the bulk of the shipment for the Wellington market was short-shipped, and did not arrive here until the following Friday. Prices rango from. 3s. to 6s. 6d. according to quality. .■ ■ • ■ Bananas.—The shipment liy the Sfoltoia reached tin's market in good condition, and the quality of the fruit was well above the average.' Excellent prices v;ti<realised for this consignment. The UH--maroa, from Sydney, .is bringing 500 packages of Hew South Wales frnit. ' Pollard and bran.-Numerous inquiries are being received for shipments to British and Continental ports, but supplies are not coming forward. Pollard is in exceedingly short suprjy. Maize—A fair nusltiess is passing, 'lne no doubt, to the very low quotations now ruling. Pearl Barley.-The market is firm at £15 per ton, and fair sales are being made. Split Peas.-Good business doing and prices continue firm, WHEAT AND FLOUR. B> Telegraph—Press Association—Copyricht London, May 16 The wheat and flour afloat for the United Kingdom is 4,335,000 v quarters- for tho Continent, 1,885,000; Atlantic shipments, 368,000; Pacific shipments, 20.0C0. The total shipments to Europe during tin week amounted to 1,275,000 quarters, including 142,000 from the Argentine, 505 000 from Russia, 64,000 from India, and 40,000 from Australasia. ■ CANTERBURY GRAIN MARKET. ißy TelegraDh.-Presa Association.! Chrlstchurch, May 17. The wheat market is .very quiet, and little business is doing,' either by merchants or millers. A few odd 'lots of prime milling wheat have sold at 3s. 5d and up to 3s. 6d. at country stations for pearl, but only bright unweathered samples are saleable at anything like these figures. Tho oats market is steadier as the high prices have checked business. Merchants are finding difficulty in turning over lines at a profit, and are, therefore, holding off the market for the time being. Potatoes are firmer, and, for immediate delivery. £4 is now offered.

IMPORTANT HOTEL HALES. Messrs. Dwan Bros, report having sold Mr. John Kennedy's inturest in Her Majesty's Hotel, Pitt Street, Sydney, New South Wales, to Mr. Frank Dakin, formerly of the Customhouse Hotel, Nelson, aurt recently of the Royal Tiger Hotel, Wellington; Mr. 11. Martin's interest in the Criterion Hotel, Millerton, Westport. to Mr. John Fitzgerald, late of Levin; the lease, furniture ,and goodwill of the Club Hotel, Suva, Fiji, on behalf of Messrs. Marks and Co., to Mr. Henry Shotlander, late of the Inglewood Hotel, Inglcwood; Mr. 11. W. Sharpe's interest in the lease and goodwill of the Junction Hotel, Norsewood, Hawke's Bay, to Mr. Ernest Crabtroe, well known in Wellington; Mr. T: Millwood's interest in the Masonic Hotel, Havelock, Marlborough, to Mr. A. G. Newman, late of Gore; Mr. George M'Dorihld's interest in the Phoenix Hotel, Eanjcitikoi Line, Palmorston North, to Mr. 0. T. Gayne, late of the railway service, Wanganui; Mr. James Woods's interest in the Tclcgrnnh Hotel, Otaki. to Mrs. Preston, late of Blenheim; Mr. Thos. Aitkcn's interest in the Herbcrtville Hotel, Herbertvilie, East Coast, to Mr. William Paccy, late of Levin; Mr. Otto Weino's interest in the Princess Theatre notel, Wellington, to Mr. Robert Allen, of this city; Mr. Chas. Diamond's interest in the lease, furniture and goodwill of the Albion Hotel. Patea to Mr. Henry Vogel, late of the Wellington Meat Export Company; Mr. Arthur Week's interest in the lease, furniture and goodwill of the CastloclifF notel. Castlccliff, Wanganui, to Mrs. B. Doolev, late of Eushworth, Victoria; and Mr. A*. Nannested's interest .in the lease and furniture and goodwill of the Shamrock Hotel, Molesworth Street. Wellington to Mrs M. Cooper, late of the Central Hotel, Maslerton. MINING NEWS. WELLINGTON SnAREMARKET. All Thames mining shares were firmer; Talismans were steady at 525. 6d., and Waihis changed hands at £8 4s. 6d. A steady upward movement has been noted in Watchmans, which appear to ■ be in good demaud. Boss Goldfields shares have risen to 9s. 3d. The business recorded yesterday was as under:—. Old Hauraki. 4s. 7d. (first call). Waihi, £8 4s. 6d. (third call). Watchman, 2s. 4d. (third call). Ross Goldfields, Bs. 7id. (Hist call); 8«. 9d. (second call); 9s. 3d. (third call). Q DOTATIONS. Buyers. Sellers. Sales. £ s. d. £s.d. £ s. d. Komata. Eccfs ... 0 0 31 — — Kuranui Caled'n ... 0 1 6 — — May Queen 0 4 7 0 4 8 - Moanataiari 0 0 8 — - Ken- Sylvia 0 3 10 0 4 0 - Old Hauraki 0 4 5 0 4 6 0 4 7

Old Kn.panga 0 0 7 - - Saxon 0 1 9 0 111 . - Tairua G'n Hills 0 4 0 - - Tairua Monarch ... 0 0 3 0 0 5 — Talisman 212 6 213 0 — Waihi 8 3 6849 846 Waihi G'd Junction 110 0 110 9 — Waitangi 0 2 6 0 2 7 — Watchman 0 2 2 0 2 5 0 2 4 Blackwater 19 0 - - Con. Goldfiolds ... 1 0 9 1 1 6 — ltoss Goldfields .... 0 9 3 0 9 9 0 9 3 STOCK EXCHANGE. (By Teli-srraph.—l'rcss Association.! Auckland, May l>. Business done at this morning's call of the Stock Exchange included:— May Queen. 4s. 7d. Alburiiia, lid., Is. Saxon, Is. lid. Watchman, 2s. sd. 2s. 6d. iiauraki, 4s. Bd., 4s. 6d. Kapanga. (con.), 7d. lioyal Oak (con.), Is. Hid. Tairua Golden Hills, 49. sd. Grand Junction, 30s. 9d. Auckland Trams (ord.), 225. 9d. The following business was done on tho Stock Exchange this afternoon:— May Queen, 4s. .7d. Walotahl, 4s. sd. Watchman, 2s. 4d., 2s. sd. Old Hauraki, "Is. 6d., is. sd. Tairua. Golden Hills, 4s. 6d. Talisman Consolidated, 535: Waihi, 1665., 1655. 6d. Waihi Grand Junction, 31s. Old Alburnla, lid. N.Z. Crown, 4s. sd. Bank ot New Zealand, 2035. 6a. South British Insurance, 645. 6d. Taupiri Coal, 19s. 6d. Auckland Trams (ord.), 225. 9d. Milne and Choyce (pref.), 235. Qunedin, May 17. Stock Exchange salcs:-Ta!isman Consolidated (forward delivery). £2 135.; Waihi Grand Junction (forward delivery), £1 Us. 9d. Sales reported: Talisman Consolidated. £2 11s. 9d.; Old liauraki, 4s. 6d.; May Queen, 4s. 7d.; Waihi Extended, 2s. 6d.; Waihi Grand Junction, £1 11s., £1 11s.; - Union Steam. £1 13s. 3d., £1 13s. 3d. EOSS GOLDFIELDS CO. (By Tclccrupß—Press Association.! Clii-istchurch, May 17. Dr. Neeley, chairman of directors of the Eoss Goldfislds Company, has received tho following telegram from the Hon. J. D. Ormond:—"ln the event of fmaucial assistance being required to get the works going, 1 am prepared to join yoiuseh , r.nd other large shareholders in providing funds.-J. D. Onuond." Dr. Nccloy replied as follows:—"Thanks for your wire; reports received to-day from the managing engineer indicate that v/e shall be raising payable dirt six , weeks before our funds are exhausted.".