COMMERCIAL ITEMS.

Dominion, Volume 3, Issue 851, 24 June 1910, Page 8

COMMERCIAL ITEMS.

INVESTMENT SHARES. A saic of Bank of New Zealand shares at £10 ex dividend was the only transaction I l® co^f cd yesterday. National Bank, buyers £6; Bank of New Zealand, buyers £10 55.Equitable Building, buyers £9 7s. 6d.; Metropolitan Building, buyers £12; Wellington In-vestment, buyers lis. 3d.; WW* lmffton Trust and Loan, buyers £7 Bs. 6d.; Wellington Deposit, buyers Bs. 3d.; New Zealand and Kiver Plate, buyers £2* Gis borne Gas, buyers £2 lis. 6d.; Palinerston North Gas, buyers £7 155.; Wellington ({as, £10 paid, buyers £18 7s. Gd.; £6 15s. paid, buyers £15 10s.; new issue, sellers £2 10s. premium; South British, buyers £3 2s. 9d.; Standard lusurauce, buyers £1 <!s.; Gear Meat, £4 paid, buyers £10 Is.; £1 paid, buyers £2 135.; New Zealand Shipping, buyers £8 2s. 6d.; Wellington Woollen, ordiuary, buyers £3 4s. Gd.; preference, sellers £2 10s.; Taupiri Coal, buyers 19:,-. 9d.; Westport Coal, buyers £6 10s.; Leykind-O'Bricn Timber, buyers £1 55.; New Zealand Drug, buyers £2 95.: Taramiki Petroleum, sellers 13s. 6(1.; Ward and Co., buyers £4 16s. 6d. THE WOOL TRADE. At last mail dates the British home clip was in sight, and shearing had commenced in sonic of the southern eouuties. It is surprising how much the importance of this clip is under-estimated, especially by Australians, and yet the faets have only to be stated to show what an important part home-grown wool plays in supplies of the. raw material. The United Kingdom depastures far more sheep thaai either .South Africa or New' Zealand. Whilst British farmers own 33,000,0110 shoep, the three largest States in uie Commonwealth—viz., Western Australia. South Australia, and Queensland—with a combined area more than twenty times the gizo of the United Kingdom, ou-ly carry about 30,000,000 sheep. Messrs. llobert Hamsay and Co., Ltd., of Glasgow, in their annual report on the Scotch wool trade, say that "ail active demand ha* been experienced during the entire season for all lunds of home-grown i wools, and with the demand prices have I slowly but steadily improved, and at pro I sent they may l>c quoted roughly about 25 i per cent, higher than at this time last ! year." During 1908 prices were eitremelj : low, and it is stated that one large Scotch owner of sheep consulted an English authority about accepting or rejecting the ridiculous oilers nuule for his clip, and he v/as advised to hold it until every sjaple wsi;> moth-ealen rather than part* with it at such low figures. He held the wool for twelve mouths with very satisfactory results. It is always unwise to port, with so useful an article as wool at panic prices, for it never remains long at. the , bottom. Messrs. ltamsay and Co. take a cheerful view of the present situation, and also of future prospects. They point out , that very little of last year's clip is left 1 on hand, and ihin is particularly the ease with regard to the liner wools. If American support ir withdrawn from the market, as seems not unlikely, a reduction in values v t«* jk vvxiawti}., .iounA-jto.-.iQlkiis,

The July London sales will disclose the truo position.

The Newfoundland Government has a Bill before the Legislature for the encourage-, mcnt of the woollen industry, and the Bill authorises the Government to contract with private parties that the duty on woollens shall not he reduced for ten years. On woollens, ae on general dry goods, the tarili' is 35 i>er cent. The unobjectionable proposal to admit ma<.hiih;i\) free is followed by a scheme of bounties under which 5 per cent, would he given of the value of all raw wool imported for manufacture, and 10 per cent, in the eikj>o of any local wool that was uiade into goods. This implies a subsidy of something less than 2-i or ii per cent, on the value of manufactures. Canadian experience has shown most pointedly that the kind of woollen mill that a. population of 224,CC'0 can ?.uppurt i:i noi an enterprise for whiv.h a camions Government ought to make itself responsible. Jf there is any room for any woollen undertaking in Newfoundland it is presumably for that form which nourishes in Canada under a turift' of 22* per cent. 'Die carding, spiniiiug, and knitting of .thick-e-ount woollens is pcrhapn from eveiy aspect a more hopeful and deserving line than the ambition lo manufacture, "wearing apparel, blanket-?, nigs, carpel*, etc." CUSTOMS REVENUE. Customs revenue collected at Wellington yesterday amounted to .£2350 os. Bd. WHEAT. By ToleirrflDh—Press Association—CoorrltrhT London, Juno 22. The American visible supply of wheat is 28,869,000 bushels. TALLOW. 8y Teleffra,Dh—'Press Association—CopyriKU* London, Juno 22. At the tallow sales, 1734 casks were offered and 873 sold, Mutton—Pine realised 365. 3d.; medium, 535. 6d. Beef—Fine brought. 555. 6d.; medium, 335. Tho New Zealand Loan and Mercantile Agency Company, Ltd., have received the following; cablegram from their London house, under date June 22:—"Tallow.—Wo quote present spot values for the following descriptions:—Good mutton, 3-Is. 6d. per cwt.; good beef, 345. 6d. per ewt.; mixed, 325. per cwt. Market quiet." LONDON METAL .MARKETS. By Telegraph—Press Association—Copyright. (Rec. June 23, 11.15 p.m.) London, June 23. Copper.—On spot, £54 13s. 9d. per ton; three months', £55 Bs. 9d. per ton; electrolytic, £57 17s. 6d. per ton. Tin—On spot, £148 per ton; three months', £148 17s. 6d. per ton. Lead, £12 15s. per ton. AUSTRALIAN PRODUCE ILYRKETS. By Telegraph—Press Association—Copyright. (Eec. June 23, 11.15 p.m.) Sydney, June 23. Wheat is quoted at 3s. sd. per bushel. Flour, £8 15s. per ton. Oats, Tasmaniau Algerian feeding, 2s. 3d. to 2s. 4d. per bushel: milling, 2s. sd. to 2s. 6d. Barley, Capo feeding, 3s. per bushel. Maize, 2s. Bd. per bushel. Bran, £4 ss. per ton. Pollard, £3 IDs. per ton. Potatoes, £4 ss. per ton. Onions, Victorian, £4 10s. pea* ton. Butter, 110s. to 112s. per cwt. Cheese, 6d. to 7d. Bacon, 7d. per lb. fflolbournc, June 23. Wheat, 3s. 6d. per bushel. Flour, £8 per ton. Oats, Prime Algerian milling, 2s. 2d. per bushel. Barley, Cape prime, 2s. 6d. per bushel. Maize, 2s. 6d. per bushel. Bran, £4 10s. per ton. Pollard. £4 15s. per ton. Potatoes, £3 lCs. to £4 IDs. per ton. Onions, £3 2s. 6d. per ton. Butter, 12d. per lb.

Hirles.—Surplice are fair. Kips are an eighth lower, aud others are irregular.

Adelaide, June 23. Wheat, 3s. 41d. per bushel. Flour. £8 10s. per ton. Bran and pollard, 12d. NEW ZEALAND AND RIVER PLATE COMPANY. (By Telegraph—Press Association.! Auckland, June 23. The New Zealand and liiver Plate Company will pay an interim dividend at the rate of ti pur cent, per annuni for the six months ended April 30. It is payable in New Zealand on July 6. C.C. AND D. CO. (By Telegraph.—Press Association.» Napier, June 23. The C.C. and D. Company to-day cabled the following report on the frown meat market:—Lamb market is weaker, ana values declined another Jtl. jicr Jb. today's prices:—Canterbury mutton, 4il. pet lb.; Napier, Wellington, and North Island, sy. Lamb: First quality, sJil.; second duality, sid. Bccf-lliudtiuarU'rs, 4a.; torequarters, 3^d. LEVIN WOOL AND IITDKS SALE. Messrs. Ilitchiuss, llankins, and Co., Ltd., report as follows t-At our uionjnly sale, held vestcrday, we submitted oO bales ana fad"es wool. 11CO sheepskins, 350 hides, o cask* and 30 tins tallow, etc. There was a representative attendance of buyers present, and competition was keen lor ait liner at late quotations, witu the exception of hides, which were easier to the extent of ad. to id. per lb., in sympathj with the falling Australian market, quote as follows:—Wool— Crutchings, briglit clean, 6£d.; medium do., 53d. to 6id.;, seedy and stained do., 5Jd. to 5Jd.; dead wool, sid„ 53d., 6*d., to 7d. Sheepskins-Cross-bred, fine, 7id.; crossbred, medium, 71d.; half-wools, 53d. to 6id.; lambs, best, /Id.; lambs, medium, 63d., 6id., to 63d.: dead and broken, 4Jd., *4d. to 5d.; hoggete, inferior, 53d. to 43d.; butchers' green skins, extra heavy, 7s. to 7s. 6d.; medium, 45., 4s. 7d. to ss. 6d.; salted ekins, 4s. Ltd. to ss. 6d.; saJt-ed lambs, 2s. 6d. Hides—Calf, 6£d. to Bijd.; calf, cut, 5d.; slippy do., 4d.; ox, heavy to medium, 6*d.; light do., 6Jd.; cow, heavy, 6Ad.; medium, 6/, d.; light do., sfld. to 6a.; cut and slippy hides, 4d. to 4§d. Tallow— Casks, £27 tCMiuil to £28 10s., Wellington); tins, £23 (equal to £24 10s., Wellington). Mining News and Live Stock reports will be found ou page 7 of this issue.