COMMERCIAL ITEMS.

Dominion, Volume 3, Issue 895, 15 August 1910, Page 10

COMMERCIAL ITEMS.

INVESTMENT SHARES. On Saturday the two lower denominations of Wellington Meat Export shares sold at £5 ' ss. and £3 ss. respectively. These were-the. only transactions recorded. The quotations were as under:— Buyers. Sellers. Sales £s.d. £ b. d. £ b. d Bank N.Z. — 11 0 0 - National Dank .' — 519 0 — Eauitablo Building 910 0 — — : Metropolitan 12 0 0 — — National .Mortgage J J 6 — — N.Z. Loan and Mer- '• can tile — 0,12 6 — Wellington Deposit ■" —" 0 9 0 — Feilding Gas — 12 0 — Wcl'gfn Gas (£10)18 0 0 - — Wellington Gas (£6 155.) ' 13 12 6 - - Wellington Gas. (new 'issue) 2 7 0 — — National Insurance . 111 6 — ... — N.Z. Insurance .... 111 6 — • — Gear Meat (£4) ... 10 5 0 - - Gear Meat (£1) ...... 215 0 — - Meat Export (£4) .. - — 55 0 Meat Export (£2l2a. 6d.) ■' '. — 3 5 3 3 5 0 N.Z. Shipping ...... - 10.1 6 •—. Union Steam : 115 3., — — Wei. Woollen (ord.) 3 8 0, -. - Wei. Woollen (pref.)■'..— . 212 6 .- . Taupiri Coal : — 1 0 9 . — Wcstport Coal 615 6 —.. . — Manning and Co.'.. 40 0 — —. ■ N.Z. Con. Dental... - 12 6 — N.Z. Drugs .. ; .....' • — V',2 11-9 - N.Z. -Paper Mills... 1 I ' '■ .- - Sharland's ord. ..;' l'l 6 ■ — — Sharland's pref.';;.' 1 2-0'! . •'—- .. —' Tariugamutu Totara 110 0 — — Wao-d and Co 5 6 6 510 0 — THE MONEY MAEKET. .Last week the Bank of England recovered its strength, the, proportion of reserve to liabilities 1 increasing , from 49.98 per cent, to' 51.05. per cent.' There was a substantial influx of gold, the total being £38,266,000, as compared with £37,886,000. At the moment .there, appears to -bo plenty of money available for .day-to-day short leans, /and the short-loan rat* has fallen J per cent to 13 per cent. The rate for three months' bills, however, has advanced by 3s. 9d. per cent., and a higher rate also prevails in- •Be'rlini -',The money market will receive itß test-next "month, and a- measure of stringency is'probable, but the' more recent evidence to hand does not seem to.indicate that the resultant inconvenience will be widely felt. Consols and colonial. Government securities arc- quiet, the few changes recorded being in.a downward direction, except in the case of, New -Zealand 3J per. cents.-. which have advanced ss. on the week.,;,; „ . 'v .-'CAPITAL APPLICATIONS. The capital applications in Great Britain for the first half of the current year have been on a -tremendous scale.: The actuals figures, exclusive-'- of bill issues, for. the first half of each'year since 1905 are given :below:—...' Jan.-Juno No., • £ : 1906 234 . 88,485,938 1907 ......... 221 ; 106,282,211' "". \ 1908 ......... 282 .'132,250,376. ';. las'-■;&::..'• ! 330' : .;;.'..'.:':.' 'i55,i25,54i.- " ; . 1910 ........... 656 :........ 244,517,154 . The first - rhalf-.of''■'l9o9' ; - ! wa'9 , -'a ,:; perio'd' of greater'."-activity;.thanT'any : previously exhibited, yet this year not only is the number of capital issues nearly doubled, but the amount created is just over 60 per cent, higher. Even more, striking are the results when the- figures are classified, as, shown • below:—' ••' ■ ;■.';-, ■ ~~ <:"'. % \ ■'■:■';

■■• . Jan.-Jrinc,'l9lo. Jah.-tfune, 1909; .!.'--- -' '■■ -.. No. £■ No. . £ Public .. Loans 36 107,338,056 59 81,541,300 Financial ....:. 61. . 11,295,171 11 2,418.000 Commercial ...'324 39,979,766 86 ■ 8.827,560 ■Issues .by exist* ,•: .-,--.... 7 . . —^ ■■ ing'oompanles'lßl'l':7B,337,ll4 138, 56,232;463 Mining ;.-54,; 7,567,047" 3ff 4,104,213. ''•Total''. ......... 656; 244,517,154 330 153,123,541 .The increase, is ..over . £91,000,000,1 "but) as most of the'money represents foreign investments' the ultimate result will be to stimulate' the trade of Great Britain'. .< f." / THE TEXTILE"'INDUSTBT. ■■"'■■'■■' 1 Statistics just issued. by the director of ;he census' o'.-production reveal the mag'' nitude of; the textile 'industry in ' the. United . Kingdom. The -.total. ;productiqn amounts to £327,423,000,. of .which £231,201;000 represents the . value of the material used,,.and the balance—£96,222,ooo—is the net product of the labour of 1,252,294 hands employed in the industry. This sum pro-vides-.the means for paying wages, rrates, depreciation, and all other similar charges, 'as well as the interest on the capital, and manufacturers' profits. According- to the .figure)!, supplied, tnero is a very marked difference between the various trades as regards tho proportion that the cost of raw material bears to the total value; of the . output,. JFor.t' example, .'jin-j.thav,minor, textile trades' 400,000" persons operate on £50,000,000 worth of material, : whereas, in the cotton -trade,- 573,000 persons .'handle £130,000,000 worth of material. The' "Economist"'., attributes this • difference ..tof-the, 'fact that in .the cotton trade' the economy. of v labour has'Hieeri carried to extreme, limits by means of efficient.machinery.- Ir|■ the-silk industry, on the other hand, in spite of the greater, cost of the material, each .worker. deals with - barely-, £ipp-,worth of theV raw/ double that quantity in the cotton trade. The; result is that, whereas.the- gross routput of the latter is more than half the' total of the textile industry,-the expepses of the, cotton trade are less "than half 'the', total of .all'.textiles. v, - ;;,';•'■■ -.-''.■''.. . 'customs,revenue:' '" ',; The Customs revenue! for tho week ending. August 13 was £23,055, 10s. lid., the' beor r duty being £228; .The revenue collected on. Saturday was £1683 14s. Id.'

: ' FEttDIfTS'IIAHKETEEPOET..; 'Messrs. A..H. Atkinson and Co., Ltd., of Feilding, report full entries'of piss"; and' poultry and general produce at last/sales.' Grown pigs and' porkers were not,keenly, competed for, the main inquiry being'for weaners, which sold well.. Poultry' made rather better values. all; 'round: ,'that •' was 1 the case during the previous week, with strong inquiry .for-:young.sbirds Hind turkeys. Potatoes.. were, in .' full supply, • good • sound potatoes, different varieties, being offered and selling at from Bs. to 9s. cwt. The,firm/also. Boldi'a'*quantity..:bf.' Nelson apples at .'qUotatioris! :> Severali reliable harness horses'Hfound;, buyers. 'Quotations:— Aged horse's',":£l'l3s. 6d. to £4 55.; harness: do., £2. Ss.j- small weaners., ss. '6d., to '75.. 6d.j better quality and growth, lie., 10s.'. 6d., lis., to lis.. 6d;; slips, 9s. 6d., lis. 6d.-,-to 14s. .6d.; small stores, 10s., 13s. 6d., to' 155.;. heavier sorts, 16s. 6d., 175., 18b. 6d.,.' 20s. 6d., to 225.- 6d.; light porkers, 155..' 195., 215., to 255.; heavier, 275. to 325. Sd'.s .sows, to,-early farrow,. £3 175.;-' Poultry, atv per pair: Hens. 3s'. 3d., 3s. 6d.,.'35. 9d., 45.; cockerels, 36;-.6d„ 35.;9d.,'.45., ,45. : '3d., to 4i.- : 6d,; PUrebred,'-to 75.-\geefe, r .4B.'6d.; ducks, 55.. 6d. ■, Harness,'. £4 10s.'; saddles,. 235. 6d.,: 295.; barley.-'to 3s.;..wheat, : 4s. to 4s. 6d:,-' oats,- 25.-"lid.;- straw chaff, £2 10s.; oatendo., £4.55. to £4 10s.; seed potatoes, 7s. to 9s/per "cwt.;. tabic- do., 10s.. to 13s. 'per sack; pig d 0.,"25. 6d. to 35.; apples, 75.. to 9s. per case; cauliflowers, Is. 6d.; marrows, 2s. 6d.; onions, 3d.; factory bacon,"' sides, 7d. per lb.; hams, Bid. : FBOZEIMrEAT. By Telerraph—Press Association—Copyright j (Bee. August 14, 5.5 p.m.) London, August 13; The Frozen Meat Trade Association'! Bmithfleld 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 beof of fair average, quality. The quotations are not for selected lines, but for parcels fairly, representative of tho bulk of the shipments now on the market. The prices •which"follow are on an average a farthing per lb. more than the valuo ez ship,this difference representing an average coat is eipcnses, handling, conveyance, and sellinz the meat:— Aug 6. Aug. 13. Mutton—' . d. , d. . Canterbury, -light 3| •■ 3J .■-.• Canterbury, medium 36 i 33 ■ Canterbury, heavy • 38/ •3j Southland '. — , - : . North Island, best 39-16 3J North Island, ordinary .. 31 3916'. '•Australian!, light ;. 23 25 : Australian;, heavy ...;, 3 31-16 Biver Plate, light ......... 3J 3J - lUvor Plate, heavy 33 38 Lamb— ~ • Canterbury, light 5 -. 5 Canterbury, medium 4J ' 48 ;■ Canterbury, heavy 4A 4J Southland 43 43 ... North ■ Island,, selected... 43 43 North Island, ordinary... 411-16 411-16 Australian, best ..' 44 ' 41 Australian, fair 33 3J Australian, inferior — — ' Kivcr Plato .....; — ' — Beef- .''-, ■'. New Zealand, ox fores ... 21 2J New' Zealand, ox hinds ... 33 33 Australian, ox fores 23 23 ; Australian, ox hinds 31 31 ' Kivor'-Pliite,' ox fores-... 213-16 213-16 Bivcc Plate, ox hinds ... 38 .31 Tho s.s. Marathon's shipment of chilled. Australian, beef, sold at about 4gd. per lb. The' meat-arrived in excellent condition, with no sign of mould, though the quality was decidedly inferior to Argentine's,' which sold at sd.

Tho New Zealand Loan and Mercantile Agency Company, Limited, have received tho lollowinß cablegram from their London house, under date August: 12:—Frozen Meat: Tho market for mutton is steady; larah unchanged. Boef is in moderate demand.