COMMERCIAL ITEMS.

Dominion, Volume 3, Issue 878, 26 July 1910, Page 10

COMMERCIAL ITEMS.

INVESTMENT SHAKES. The investment sharemarket was firm all round yesterday. The transactions recorded were "two sales of New Zealand Shipping at £10; Wellington Woollen,"preference, at £2 Us., and Taupiri Coal at £1 os. 9d: Bank of New Zealand, buyers £10 155., sellers £10 165.; National Bank, buycrß £6 Is;; Equitable Building, buyers £9 10s.; Metropolitan Building,- buyers £12; Wellington Deposit, buyers Bs. 3d.;-National' Mortgage, buyers £1 3s. 6d.;' New Zealand Loan and Mercantile, sellers 12s. 64.; Feildliig Gas. sellers £1 25.; Wellington Gas, £10 paid, buyers £18 10s., £6 15s. paid, buyers '■ £13 12s. 6d., new issue, sellers £2 10s. premium; National Insurance, buyers £1 Us.; Standard Insurance, buyers £1 55.; Christckurch Meat, buyers £12 18s.; Gear Meat, £t I paid, buyers £10 55., £1 paid, buyers £2 lis.; Meat Export, buyers £6; £5 and £3 65., cum. dividend for the respective issues; Wellington Woollen, ordinary buyers £3 55., preference, buyers £2 lis.; Taupiri Coal, buyers £1 os.' 9a.; westport-Stockton, buyers' 6s. 9d.; LoylandOBrieu limber, buyers ,£1 6s. 6d., sellers «, 7s v W-: w Ne , w Ze = land D r«B. buyers £2 lis.; New Zealand Paper Mills, sellers £1 35.; hharlands preference, buyers £1 is • Taranaki Petroleum, sellers lis.; Taringamutu Totara Sawmills, buyers £1 Bs. • - BELGIAN COIN FAIUHK, Early in Juno Belgium was suffering; from a coin famine due to the unfavourable nature of the exchanges. For many months the foreign exchanges, especially the. French Exchanges, had been against Belgium, with the result that for all practical purposes -gold had almost entirely disappeared from circulation. When all the gold had gone, the five franc silver pieces—which are legal tender in all countries forming the Latin Onion-also began to cross the frontier, with the result that at that time the Belgians were' reduced to paper money and small coins. The inconvenience was found to be very considerable, for on crossing the frontier into France or Germany the Belgian paper money was only accepted-at a considerable discount, ■ ""• ;' NEW ZEALAND EXPOBTS. Leaflet No. 92, issued by the Department of Agriculture, Commerce and Tourists deals with the exports of New Zealand products for tho half-month, July l to 15 The values are as under:— ' - ' - £ Butter 4,215 Cheese: ....,.., 9408 Beef .-. ; . 52,233 ■ Mutton . : : 64,223' Legs and? pieces ...„ ■ 896 Lamb 127,275 Wheat 1,033 . Oats ' : 619 Potatoes .-. 177 Hemp '. 20,622 Babbits 2,659 Tow 2,070 Kauri gum :. 26,872 -Grain and pulse 264 Hops • 404 Hides 15,425 Skins '...'. 50,049 Tallow ■:. 30,765 Timber 20,268' , Wool 128,875 ' Gold 70,368 £628,720 . The total for the full month of July, 1909, was £1,274,621. j AMALGAMATION CEAZE. Some dissatisfaction is expressed in 11 ■ nancial circles ,in London at tho lengths to which amalgamations of insurance companies have been carried. It is held by .these critics that where the amalgamating concerns are'both strong and prosperous, each is able to provide ample work and responsibility for a separate manager. Taking Into account tho. pensions, allowances and compensations which form part of every scheme of amalgamation, the result as regards expense of working is said to be often the reverse of economical. Tho combination, it is contended, cannot in itself increase the aggregate business, and not infrequently a fallingoft* in this respect ensues in which case there is no tangible beneflt to the proprietors of the purchasing company. Tho case of course is quite otherwise when tho absorbed concern is so weak that its policy-holders are in danger, or so badly managed that the shareholders'' property iB being destroyed. Then a sale to a, strong one moans the salvation of both classes; but when all that is gained is the

glory of suddenly acquired bulk, thero seems little to admire in the transaction. It is possible that a. generation hence it may bo fouud that the niodcrate-sizeu Insurance company is better than tho unwieldy aggregations which a continuance or the present craze will inevitably produce, and' which may not then enjoy tho. lino management of to-day

CUSTOMS REVENUE. Customs revenue collected at Wellington yesterday, amounted to £1229 14s. 2d.

■ WELLINGTON MARKET REPORT. Messrs. Lacry and Co., Ltd., Wellington, report wholesale prices ruling on the markets:—Whoat, fowl, 55.-Bd. to 3s. 9d.; feed oats. 2a. sd. to 2s. 7d:; dun oats, 2s. 7(1. to 2s. 9d.; seed oals. 2s: lOd. to 35.: Alserian oats, 2s. 7d. to 2s. 9d.; maue,3s.4d.to3s.sd.; crushed malt, 75.; fowl barley, 2s. 9d.;Cape barley seed, 35.; flour. New Zealand £9 15s. to £10; peas,' Prussian blue- 6s. 3d., I split £18; , partridge peas, ss. 3d. I bushel,- bonedust, £5 155.; superphosphates, £5 to £5 55.; pollard, £6 10s.; bran, £4 ss. to £4 10s.; pearl baTley, 155.; chaff (oalensheaf), £4 15s. to £5 ss.;6atmenl, £1210s.; potatoes, table, £7 55.; Tasmania Up-to-date (seed), £7 10s.; Carmen, £7 155.; onions, ss.cwt.; molasses fodder, £5; bacon (factory), sides .74d., hams ■'• 9d., rolls, Bd.; butter, prime bulk, 10dl to lid. Poultry, hens, 3s. 6d.; ducks, ss. to 6s. per pair;, turkeys, gobblers 18s. to 205.. beuß 10s. to 145.; fresh eggs, Is. sd. to Is. 6d. pet dozen; preserved eggs,.ls. Id .to Is. 2d. per dozen; cheese, sjd. per lb.; Akaroa ma-chine-dressed cocksfoot, 7d. per io.-, farmers' dressed cocksfoot, sd. per lb.;ryegrass, 4s. 6d. per bushel; Italian ryegrass. 3s. 6d. to 4s. 6d. per buchel; white clover. 70s. .to 755. per owt. LONDON WOOL SALES. By Telegraph—Press Association—Copyright. ' London, July. 24. At the wool sales prices were unchanged. There was, spirited competition. Faulty sold irregularly. To date, 118,472 bales have been catalogued, and 104,964 sold. " "„.. '.' : FROZEN MEAT. . By Telesraph—Proas Association-Copyright London, July 23. ■ The Frozen Meat Trade Association's Smithfield market Quotations for the undermentioned classes of frozen meat are based on actual sales of not less than one hundred carcasses of mutton or. lamb, and twenty-five Quarters of beef of fair average quality. 1 The quotations are not for selected lines., but for parcels fairly representative of the bulk of tho shipments now on the- market. Tho prices which follow are on an average a farthing per lb. more than tho value ex ship, this difference representing an average cost,in expenses, handling, conveyance, and sellins the meat:— .' . ' July 16. July 23. Mutton— .'■■'• d: d. ■ Canterbury, light 35 ■ 31 Canterbury, medium' Si .' SJ : Canterbury,. heavy 3 5-16 3 5-16 ' Southland — — North Island, ;best 3J 37-16 North Island, ordinary 33 33 Australian, light 2J 23 Australian, heavy ..'...:... .3 2g ■ River Plate, light 3J 3. River Plate, heavy ~ ?} •' JS Lamb— ' Canterbury, light ._ 5- 4J Canterbury, medium..._.. 4J 43 Canterbury, heavy ....;:..' 415-16 48 Southland , ;......■... 48 48 North .Island, selected .. 45 4g North Island, ordinary .. 43 48 Australian, best 45 4J Australian,' fair 4 35 ■■ Australian, inforior — — River. Plato' _._. — — Beef— ■'~;•• • ' New Zealand, ox fores -.23 2J • ... New Zealand, ox hinds .. 3j 3} Australian, ox fores 2J 28 Australian, ox hinds ..'.... 3 3J River Plate, ox fores 21 28 . River Plate, ox. hinds .... 3 3J

lIIGP COMMISSIONER'S CABLE. Tho Commerce and Touristß Division of the Department of' Agriculture, Commerce and Tourists has., received the following cablegram from, ihe High Commissioner, dated London, July 23:— ■Mutton: The market is dull, and. there is. scarcely any demand for mutton. Average price to-day for Canterbury is Jld., North Island 3jd. per lb. Lamb: Tho. market is weak. Shipments now. arriving arc very heavy, and buyers are not inclined to make forward purchases of lamb at present prices. Tucj-o is an inclination to force sales of lamb. Average prices for Canterbury 4£d., other than Canterbury 4{jd. per lb. Beef.—The market is quiet. : Shipments of beef from the River Plato are heavy. There are signs of improvement in the beef market. New Zealand hinds, 31d. per lb., fores 2£d. per lb. _ Butter: 'The market is steady. ■ There is a good local demand for best quality. Choicest ,Ncw Zealand butter to-day is 110s. per cwt. (New Zealand is in small supply). Danish 114s. per-cwt.; Siberian, ICte.; and Australian,. 104s. per cwt. Cheese: The market is firm. . There Is' a better demand for cheese, and the market has. advanced owing to advices from Canada. White New .Zealand (old) 575. per cwt., Canadian (new) .555., coloured New Zealand.(old) 555., coloured Canadian (new), 535. . '

Hcinp: The market is not much changed and> tendency is slighlty in favour of buyers; the market is very uncertain.- The output! from Manila for tho week was 21,010 bales. . Wool: Market ■ f)rm, with a' hardening tendency.