COMMERCIAL ITEMS.

Dominion, Volume 3, Issue 838, 9 June 1910, Page 8

COMMERCIAL ITEMS.

INVESTMENT SHARES. : A sale of New Zealand Drug share's at £2 Bs.. was the only transaction recorded yesterday. National Bank, buyers £5 18s.; Metropolitan , Building, buyers £12; Wellington Trust and Loan, buyers £7 55.; Wellington Deposit, buyers Bs. Id.; National Mortgage, buyers £3 45.; New Zealand and River Plate, buyers £2; Feilding Gas, buyers £1 Is. 6d., sellers £1 35.; Wellington Gas, £10 paid,' buyers £18; £6 15s. paid, sellers £13 10s.; new issue, sellers £2 10s. premium; National Insurance, buyers £1 Bn. M.; Standard lusurance, buyers £1 Is.; Gear Moat, £4 paid, buyers £10; £1. paid, buyers \ £2 135.; Meat Export. £5 paid, buyers, £6; £4 paid, buyers £5; £2'l2s. fid. paid, buyers £2 155.; New Zealand Shipping, buyers £8 45.; Hikurangi Coal, buyers 19s'. 6d.; Taupiri Coal, buyers 195.; Lejiand-O'liricn Timber, buyers £1 4s. 9d.; Manning and Co., sellers £4 Is.; New Zealand Drugs, buyers £2 7s. 6d.; Taranaki Petroleum, buyers 12s. 6d.; Taringamutu Tota-ra Sawmills, buyers £1 6a.; Whitcombe and Tombs, buyers £5 10s. THE WOOL TRADE. Tho projected strike in tho Yorkshire woollen inilirs, If'it-eventuates, will affect the market for the raw material, and tho July sales will probably see a drop in values. The demand for increased wages comes at a time when manufacturers are unable to make any such concession. The condition of the industry six weeks ago was not reassuring, for there was something of a'lull in trade. Tho. correspondent of a Melbourne contemporary' thus refers to the position of crossbred wool:— "As regards '.medium crossbred descriptions, the general position is a. steady one; Lees buoyancy is apparent where they are concerned than is shown by the higher qualities of crossbred and by merino. At the same time a pretty considerable yoludio of trade ifl boin». carried on, and prices are so.well maintained that users' feel little hesitation in looking a few months ahead in the matter of providing for their needs. As regards coarse crossbreds, however, the state of affairs prevailing over the past few weeks shows little, if any, amelioration. The one fea-. lure jvhich .may be said to make for progress is that more inquiries for yarn havo been about this week than last. These inquiries have mainly emanated • from ilruis who occupy themf-clvcs with shipping abroad, and in some instances the response to tho quotations has ueen an -offer to purchase at a figure somewhat below these. Annual business has not resulted, for tho spinners to whom the oilers were* made, aid as a matter of fact all spinners, arc

too well furnished with old contracts to entertain for a moment the idea of making concessions to' obtain new business. In the wool handling and ton-making branches of the coarse wool industry there is absolutely no improvement. Stagnation reigns supreme, and the lower down you go in quality, or the stronger and more lusty the wools or tops are, the greater the difficulty in finding-purchasers for them." IMPERIAL CONSOLS. The drop in Imperial Consols from £82 17s. 6d. to £81 7s. 6d. in the course of four or five days is a. big fall, and not easily accounted for. -•the quotations for the' pas,t five or six months show as under :— > . £ s. d. May 6 - 81 2 6 Jfay 13 : 81 12 6 May 20 82 0 0 , May 27 82 J 0 June 2 82 17 6 June 7 -•-. 81 7 6 The decline of 30s. cannot be attributed to the quarterly interest being anticipated for the interest would amount to only 12s. 6d. Some 'other influence must be operating to depress this gilt-edged security. A year ago Consols were quoted at £84 3s. 9d., so that in the twelve months the fall amounts to £2 16s. 3d., which is extremely heavy. The lowest price touched by Consols this vear so far as our records show was £81 on April 21, and the record lowprice of £80 15s. was touched .on August 12, 1907. Compared with the averages of past years, even £80 15s. is too high. For thu forty yoare. 1835-1874, when the rato of interest was 3 per -cent., the price averaged £93, and the average yield was £3 45.. 6d. To give the same yield with the present rate of interest, namely, 21 per cent., the price will have to fall £77 10s., and it seems destined to reach that point. | PKODTJOB EXPORTED. The leaflet issued by the Department of Commerce giving the exports for the. month of May shows that the value amounted to £1,566,947, as compared with £1,953,186 in the corresponding month of last year. The details are as under:— . . . May. 1910. May. 1909. Butter 34,239 . 28,419 ■ Cheese 106,005 83,702 Beef 53,645 . 61,068 Mutton 143,760' 170,863 Legs and pieces 5,255 10,280 Lamb 294,674 383,595 Wheat 41,960 29,447 Oats .- 2,372 42,941 Potatoes 517 453 Hemp 49,150 33,639 Rabbits : • .10 - Tow .....: 2,495 1,769 Kauri gum 20.811 45,178 Grain and pulse .... 7,899 9.405 Hops 978 ' 841 Hides 26,872 23,078 Skins 116.482 100,229 . Tallow 94,525 83,712 Timber 15,672 35,437 Wool :... 369.768 ' 623,779 Gold "179,858 185,271 £1,566,947 £1,953,186 The exports for the year' ended May 31 last amounted to £20,323,074, as compared with £16,767,742 for the previous, year, showing ,an increase of £3,555,332. CUSTOMS REVENUE. Customs revenue collected at Wellington yesterday amounted to £1655.05. 6d. SILVER. . By Telegraph—Press Association—CoDyrlirhl London, June 7. Bar silver is quoted at . 24 9-16 d. per .ounce standard. BANK SHARES AND STOCKS. . By Teleeraph—Press Association—Copyright London, June 7. The quotations are unchanged. '' METAL MARKETS. By Telegraph—Press Association—CopyrlEht (Rec. June 8, 10.30 p.m.) London, June 8. Copper—On the .spot, £56 10s.;. three months, £57 6s. 3d.; electrolytic, £59 ss. per ton. ■ ■ Tin.-On the spot, £149 10s.; three months, £151 7s. 6d. periton. ' DUNEDIN GRAIN MARKET. ' !By Telegraph.—Press Association.! Dunedin, June 8. The oats'market is quite falling off, and, even at reduced rates, business is confined to orders in hand. Farmers show •no indication of accepting the reduced prices, and are firm holders. Primo mill-, ing, Is. lOjd. to Is. Hid.; good to best feed, Is. 9d. to IstidOd.; inferior to medium, Is. 7Jd. to Is. Bid." Wheat: In the absence of business locally, it is impossible to'dcflJ nitely quote prices for milling. Both buyers .and sellers seem inclined to await developments. Fowl wheat iE plentiful, and is worth up to 3s. 3d. MINING NEWS. WELLINGTON SHARE MARKET. A fair amount of business was done yesterday, the interest again centring round the Ross Goldficlds, which changed hands up to 175., and. exhibited a decided firmness. Waihis were slightly weaker, but Talismans were steady. The sales recorded were:— - . Mountain King, lid., lljd. (first call). Now Sylvia, 3s. Bd. (first call). Old Hauraki, 4s. 4d„ .4s. 3id. (third call). Talisman, 525. 6d„ 525. >6d. (second call). Waihi, £8 3s. (first call); £8 35., £8 3s. (second call). Waihi Grand Junction, Jls. (third call). Hauraki Freeholds, lOd. (third call). Ross :Goldnelds, 16s. ,9d. (first call); 16s. 9d., 16s. 10Jd., 17s. (second call); 16s. 9d., 17s. (third, call). QUOTATIONS. Buyers. Sellers. Sales. £a. d. £s. d. £s. d. Hauraki Freeholds 0 0 95 0 0105 0 010 Kuranui Caledonian 0 17 0 18 —• May Queen 0 4 0 0 4 2 - Mountain King .... 0 0 9 D 0 11" 0 -0115 New Sylvia- 0 3 8 0 310 0 3.8 Old Hauraki 0 4 3 0 4 4 0 435 Saxon 0 18 0 19 - Talisman 212 3 .212,6 212 6 Waihi 8 2 6 8 3 0 8 3 0 Waihi Extended .... 0 2 8 — - Waihi G'd Junction 110 9 111 0 111 0 Watchman ............ - 02 0 - I Blackwater ..: - 112 9 - Con. Goldficlds - 110Ross Goldficlds 0 16' 9 017 3 017 0 STOCK EXCHANGE. (By Telecraph—Press Association.) Auckland, June 8. Business done on 'Change to-day.— Tairua Golden Hills, 3s. 2d., 3s. Id. Waihi, £8 ss. -to £8 ss. 6d. Grand Junction, 31s. 6d. The following business was done on the Auckland Stock Exchange this afternoon:— May Queen, 4s. Id.-. Ross Goldficlds, 17s. Hauraki Reefs (con.), 10Jd. > Old Hanraki, 4s. 4d. • • Seddon, 15d. Now Zealand Crown, 4s. sd. Talisman Consolidated, 535. New Sylvia, 3s. Bd. Dunedin, June 8. Stock Exchange sales:— Waihi Extended. 2s. 6d. : Waihi Grand Junction, £1 10s. 9d. and £1 lis. 6d. for forward delivery. . Dominion Rubber, 15s. premium. Sales reported:—New Zealand Insurance, £3 175.; Sailor's Rend, Bs.; Manuherika, 15s. "6d. (three parcels); ,Waihi, £8 os.; Waihi Grand Junction, £1 10s. 10Jd.. £1 '10s. 9d.: National Mortgage, £3 45.; Muddy Ter race, £1 ss. NEW ZEALAND CROWN MINES. IBy Teicßraoh—i'ress :\ssnrl.itlon.' '■ Auckland, June 8.,' Since the New Zealand Crown Mines Company commenced development work in the No. 4 and below the No. 5 (their lowest) levels, 1555 tons of ore have been crushed and treated at their reduction works, which yielded £4075 worth of bullion. Tho average gross value of the ore was £2 16s. lid., and the average net value £2 12s. 6d. per ton.