COMMERCIAL ITEMS.

Dominion, Volume 3, Issue 837, 8 June 1910, Page 8

COMMERCIAL ITEMS.

INVESTMENT SHAKES. A sale of National Mortgage at £J *s.' was the only business recorded in investment shares. National Bank, buyers £5 17s. (3d.; Metropolitan Building, buyers £12, sellers .£l2 55.; Wellington Trust and Loan, buyers £7 55.; Wellington Deposit, buyers 6a. Id.; National Mortgage, buyers £3 45.; New Zealand River Plate, buyers £2; Wellington Gas, £10 paid, buyers £18; I £6 15s. paid, sellers £15 lGs.; new issue. ! sellers £2 lCs. premium; National Insurance, buyers £1 Bs. 6d.;'Standard Insurance, buyers £1 45.; Gear Meat. £4 paid, buyers £10 55.; £1 paid, buyers £2 145.; Meat Export, £5 .paid, buyers £6; £4 paid, buyers £5; £2 12s. 6d; paid, buyers £2155.; New Zealand Shipping, buyers £8 45.; Hikurangi Coal, buyers 19s. 6d.; Taupiri Coal, buyers 195.; Westport Coal, buyer;; £6 65.; Leyland-O'Brien Timber, buyers £1 4s. 9d.; Manning and Co., sellers £4 Is.; New Zealand Drug, buyers £2 6s. 6d., sellers £2 Bs. i Taranaki Petroleum, buycrn 12a. 6d.; Tnringamutu Totara, buyers £1 5?. 6d.; Ward and Co., buyers £4 165., sellers £4 10s. INSURANCE AGAINST'JURY BERVTCE. Among the latest novelties in insurance is a- scheme published recently by the Car and General Insurance Corporation, Ltd., England, to provide against loss occasioned through compulsory servico as jurymen. In return for a premium of Is. or 25., as the case may be, but in cither case plus an additional charge of ; £d. v for the postage stamp, the insured person becomes entitled to compensation at the rate of lCs. or 20s. per diem, in accord- 1 r.nce with the premium paid, while, serving on a jury within the United Kingdom during the twelve months ensuing ; after the completion of thirty days from ; the date of the proposal. The name: and address, also the occupation of tn« i proposer are all that is required on the 1 proposal form, and the policy is subiect fo few conditions, tho principal of these i being that the company shall not bo I liable for more than a single claim in , any one year, and that no liability a{-1 taches on account of service on coroners' I inquests. The considerable and unavoidable loss which i 6 undoubtedly occa- 1 sioned in many.cases through iury gum-! uzonsctf seems to afford a reasonable field ! for insurance, and the scheme will probably attract some attention. As in the initial stages, of most entirely new schemes, the rates charged, a,ro probably to some extent a matter of guesswork, and it is, of course, impossible to judge with any degrcs ,of certainty as to whether they are a fair assessment'of the risk.

THE, BUTTER MARKET. The London correspondent of a wholesale merchant firm in Wellington wnten as follows regarding the past butter sea* son:—"lt is just a-s well now that the season is over to consider some ol the' conditions which have produced such icry high prices this season. The chief factor has been tho great prosperity of Germany, especially the German working population, employment being good and wages so high. This has caused a very great demand, for butter in. Germany, with the result that the supplies of Siberian, which would have coino to tho United Kingdom have been diverted iu Germany, and it seems highly probablo tnat the same thing will happen next season. Therefore, it is quite likely that we may again have very high prices for butter. On the other hand, it is just as well to observe some caution, .because tho high prices that have ruled this year will, no doubt, stimulate -the making of moro butter and leas chccsc towards the end of tho pTesent year to prepare for reaping a similar harvest of high prices for butter next season: The high price of butter has caused a very great increase in the consumption of margarine and other butter substitutes, not only for eating as butter, but still more for use in pastry, cakes, and biscuits. When wo inform you that wo actually executed an order for margarine for shipment to Ne\v Zealand at the present time, you can

:> ppreciate how tile demand for margarine is . stimulated by. the 'high prices for butter."

THANSVAAL AGRICULTURE. A Johannesburg correspondent of tho Gazette" sends a. glowing account of agricultural developments in the Transvaal, which, he says, are proceeding at a rats not even dreamt of a, couple of years ago. The barreuuess of the soil, the sparse population, and the lack of transport facilities appenred to present difficulties . which would either prevent any great progress altogether or make it a Question for the distant future. The rapid ( completion of tho railway and tho energy of young farmers with capital have completely changed the whole aspect of the country. Field after field of maize is now seen on land previously used only for winter pasturage. In a few years tho Eastern Transvaal and. the northern portion of the Orange River State will, it is asserted, be exporting, hundreds of thousands of tons of maize. Tho Western Transvaal and the eastern "part of the Orange State are devoted chiefly to wheat cultivation, whilst ox, horse, and ostrich breeding are making rapid progress over the whole country. An important factor has been the successful arrangement of a standard through carriage rate to all European ports. The railway rate for a sack of maize or wheat from any station to any port in South Africa is one shilling. At each port are Government oftieials,- whose duty it is to see that only good quality grain is shipped, a determined effort being made to instil confidence in the minds of foreign consumers. Spoiled grain is returned, damp, or dirty grain dried or cleaned, and for this iontrol a further charge of sixpence is made. The shipping charge to any European port is one shilling, so that a sack of South African grain may. bo sent from tho .crower to tho European port for tho uniform rate of half a crown. Capital to the amount of between £500 and £1000 is essential, but granted this, the country, with its splendid and healthy climate, is declared to bo a regular El Dorado for steady young farmers.

CUSTOMS REVENUE. Customs revenue collected at • Wellington yesterday amounted to £1343 Is. 2d. ■ TRADE IN ALLEN STREET. Partridge Peas.—With the London quotation at 65., heavy shipments are being sent forward to the United Kingdom. Maize.— I The market has declined slightly, and fairly good business is passing. Wheat.— I The market continues steady, without any change in values. Chalf.—Stocks are being gradually reduced, and the market maintains its firmness. Potatoes—Tho current price is £7 10s. per ton for good New Zealand grown. Fairly heavy shipments are expected from Victoria. Onions.—Owing to the low prices, a big trade is doing in this line. Fowl havley meets with a poor demand, and business is quiet.

Pollard is extremely scarce, and high rates are being obtained. _ Bran—This is in fairly good supply, and is meeting with an excellent demand. Butter.—The demand continues good, ana comparatively high rates are ruling for prime milled - butter iu bulk. Hams and Bacon.—Prices arc without alteration, and good sales are being made. Eggs.—Fresh eggs are quoted at Is. 9d. per dozen; preserved. Is. 3d. to Is. 4d. Honey.—The current quotations are; 601b. tins, 3£d. to 33d.; 71b. tins, 4*d.; 21b. tins, 9s. 6d. per doxen. A London firm, writing to a local produce house,-says:— "Now Zealand honey is at present wanted, and would realise up to 40s. if at all or suitable quality. The quality most in favour is of a bright lemon or orange ' colour, smooth, not grainy or rough. We should have no diiliculty in selling any consignments at the present time at from 355. lo 405., according to quality." Vegetables.—Cauliflowers are in strong demand, und make from 9s. to 14s. per sack, according to quality. Cabbages are in plentiful supply, and fetch from Is, 6d. to 4b. per sack. The demand is good for carrots and parsnips. Other vegetables are mostly ruling at low prices. Pears.—At yesterday's -sale these met. with keen competition. ; Extra choice Jpxephines sold up to 18s., and Winter Nells at 15s. to 163. per bushel case. Apples.—Choice dessert have advanced in price, and were yesterday quoted at 9s. to lis. . Island Oranges.—A. shipment via Auckland, from the Cook Islands, reached the market yesterday. Prices range from 4s. 6d. to 7s. 6d. per case, according to quality. WINTER HORSE FAIR. ! Messrs. Wright, Stephenson, and . Co., i Ltd., report as follows:—Our nineteenth annual winter fair of Clydesdale horses was held at the Dunedin Horse Saleyards recently. Mr. 11. Saunders's fashionablylu'cd bl.v;k mare Graceful Jean, five years old, by the Mount Vernon stud horse Baron Graceful (imp.), by Baron's Pride (9122, | C.5.8.), dam Princess, by Prince Alfred; g. dam Maggie, by Craigievar (imp.), and stinted to the vendor's Major Stewart, j made top price of the tirsl day for mares 1 at 125gns., the purchaser being Mr. A. Bradfield, of Owaka Valley. Two other equally high-class raaros offered were Mr. R. Cupples, jun.'s, bay raaro Grace Darling, six years old, by Shepherd Lad, by Herd Laddie (imp.), dam by Extinguisher, g. dam by Gallant Lad, for which 90gns. was bid and declined, and Messrs. Thomson and Co.'s (Wairongoa) bay mare Molly Riley, fivo years old, by Duncrais, by Hatfield, dam Bell, by The Admiral, g. dam Jess, by King of the Clans, passed in at SOgns. In the draught gelding sections, * ameß BL'iokle topped the market at -48 for a six-year-old bay gelding. Next to him came u grey gelding, four yearH old. and a brown gelding, four years old, both from Mr. W. Waddell, of Rough Craig Farm, these horses also being secured for Australia at £47 and £46 10s. respectively. For Sir. John Grant (Underwood) we soid a four-year-old gelding for export at £46. For other vendors wo sold a large number of marcs and geldings at prices ranging from £35 to £45 for the former, and from £30 to £42 for the latter. Second day's sales:—On account of Mr. Robert Cupples, jun., Qtautau, bay mare, Grace Darling, rising seven years, was purchased by Mr. George Johnstone, of Tahatika. On account of Messrs. Thomson and Co., Wairongoa Stud Farm: Bay mare Molly Riley, five years old, way purchased by Mr. J. R. Henry, of Melbourne. On account •of Mr. William Waddell, of Rough Craig Farm, bay mare Jeanie (1899, N.Z.5.8., Vol. 5). six years old, was purchased bv Mr. Archibald Aitchison, of Hampden. On account of. Mr. Robert Cupples, sen., Waikiwi: Fine bay mare by Botany Bay out of a mare by Samson, sold to Mr. Duncan Campbell, of Woodside. There was a good demand for well-bred young Clydesdale mares. The Australian inquiry for animals of this - class was - strong, and proved more than equal to the supply. >For powerful young heavy, draught geldings four and five years old, there was good demand also, and .some exceedingly satisfactory sales were made at prices ranging from £38 to £45. . The winners of our an-, nual prizes were:—Mr. 11. Cupples, jun. (Otautau), for the highest aggregate price, for six working draughts; second place inthis class being secured by Mr. A. W. Douglas (Waikouaiti). For the highest priced mare; Mr. H. Saunders (Waimate) was an easy first, with his high-class marc,Graceful Jean, which realised 125gns. For the highest-priced gelding, Mrs. James Blakie (Ryal Bush) took premier honours, with a very superior six-year-old gelding..

HIDE SALE. Mr. Newton King reports:—At my hide ?alo yesterday the catalogue comprised 1465 hides. Oj< heavy, 71d. to 7Jd.; medium, 6j[d. to 7£d.; superior cow, 62d. to 7*d.; average cow, 6gd. to 63d.; farmers' cow, sd. to 6id.; cut cow, 5d .to 6*d.; stags, 5d.-to 53d.; horse, ss. 6d. to 12s. METAL MARKETS. By Telegraph—Press Association—Copyright (Rec. June 7, 11.10 p.m.) ; London, June 7. Copper.—On the spot, £56 55.; three months, £57 2s.' 6d.> electrolytic, £59 7s, 6d. per ton. Tin.—On the spot, £149 12s .6d.; three months, £150 15s. per ton. WHEAT AND FLOUR. By Telegraph—Press Association—Oopyrigbl London, June 6. The wheat and flour afloat for the United Kingdom is 3,945,000 quarters; for the Continent, 1,500,000 quarters; Atlantic shipments, 141,000; Pacific shipments, 15,000. The total shipments to Europe during the week amounted to 950,000 quarters, including 69,000 quarters. from Argentina, 340,000 from Russia, 169,000 from India, and 93,0C0 from Australasia. (Rec. Juno 7, 11.10 p.m.) London, June 7. Australian wheat cargoes have been sold at 31s. and 325. CANTERBURY GRAIN DEPARTMENT. (By Telegraph—Press Association.. Christchurch, June 7. The local wheat market is in a Btill weaker position than was the case last week, and there are practically no buyerß at present. Millers are only offering un to 2s. 9d., and holders are not yet prepared to accept loweT rates. There is a fair quantity of wheat offering, but sales are difficult to effect. There is very little very prime wheat left, and what is being offered shows,- more .or less signs of weather. ' What is making business still more difficult to transact with - northern millers is the rejection of weathered prrain at Lyttelton. The oats. market is also dull, and prices have given way so that buyers ' cannot do business at the rates ruling a few weeks ago. ' Growers are, however,, holding firmly, and the turnover is therefore, very limited at present. Potatoes have sharply advanced in price, and, from £5 ss. has been paid. During the last few days they have risen -mother ss. per ton. The crop being in pit, holders are indifferent about selling, racing that the yield has been dteappointly small on the average. Oatsheaf chaff is not so firm as it was, in consequence of the easier tone of the oats market.