COMMERCIAL ITEMS.

Dominion, Volume 3, Issue 909, 31 August 1910, Page 10

COMMERCIAL ITEMS.

INVESTMENT SHARES. ■ A sale of New Zealand Shipping shares at £9 17s. Gd. was the only transaction in investment shares recorded yesterday. The quotations were unchanged, and wero as uuder.

' THE LONDON BUTTER - MARKET. The statistics which accompany the annual report of Messrs. W. Weddei and' Co., -dealing with the London butter market during the season which ended on June 30 last, show that the quantity of butter imported into the United Kingdom from ail sources during the season, represented 210,564 tons, or 389 tons greater than, that for tile immediately preceding twelve months. Tlie sources of suppiy.'for tho past iivo seasons wero aB follow j-uno. Aus. Canada. N.Z. Foreign. 30. Tons. Tons. Tons.' Tons. 1906 ... 26,950 15,115 15,177 . 158,221 1907 ... 34,023 . 8,220 I 14,852 162,132 1908 ... 22,396 1,862 11,492 165,384 1909 ... 16,180 . 2,386 ' 13,631 *78,378 1910 ... 28,770 1,162 16,705 164,327 The Imports of . tho past season were exceeded three times in the past ten years, viz., in 1904, when the imports were 218,943 tons, in 1906 (imports 215,493 tons), and 1907 (219,277 tons). It tho number of consumers has increased durinpr. the .past two or three yeaTS, as Beems likely, then ■ the shorter supply of .butter should havo enhanced values materially, but, except occasionally, there has been nothing sensational in the conditions of the market, and the probability is that .butter substitutes, such as margarines, have filled the gap. ■ <' ■' In explanation of the fact that Canada has almost disappeared, from' the. list of butter ' suppliers to -tho English market,' Messrs. Wcddel'and Co. mention a rather, remarkable incident. They state that-"an; accidental printer's error in.the American Payne Tariff, which reduced- the duty on cream entering tho United States from sc. per lb. to se. per gallon, has created an extensive business in the northern States of America for Canadian creuni, and t-ne supply for the manufacture of butter is reduced accordingly."

: Keg&rding the prospects for the current' season, tho report states:—"Tho cold and wet summer of last year in Europe .lias been succeeded , by very similar conditions this year, both ns regards temperature and rainfall, and the early portion of-the "hay crop in the butter-exporting countries of Europe has rbeen damaged. The nutrl* tive-value of this bay is considerably reduced, and unless an immediate change ~tu warm and dry weather comiwnces and continues-for some weeks, so as to secure I the later crpp in good condition, l the ey* ; port of butter from the Continent to the l United Kingdom will probably show no in*; creaso on 1910. In Australia and New Zea-j land.up to the present date the l weather | has been favourable for a moderate increase of butter next aeaaun., The in-J crease In number of < dairy farms which, has been taking place during the last few | years all over Australia New Zear landi owing to the policy of closer I meni, should- secure a steady .growth in :the production of dairy produce. The .Canadian export of butter to this, country is now so small that it has'become almost, a negligible quantity in affecting our inai- i kets. In Argentina there is a pTospcct of a- small increase over.last year. In the United State 3 there is more butter in cold stow:- than there was last year, but if -general prosperity continues there the home demand will require all these supplies."-' ' •-' : ./-i'-V;-. •

Customs revenue collected-at the port of Wellington yesterday amounted-.to . £237? 43. 4d. v.. . r : TRADE IN ALLiSW /.STB.KE'r. . ' Vegetable^— With the advent, of' spring weather supplies have increased. The first of thu. new season's asparagus lias'put in an appearance, and r -realised Is;'to"Is. 9d. per. bundle. x Parsnips are un excellent demand, and there is also, good- inquiry- for jeeks,-and choice lettuce. Cabbages are now selling at 4s. to 75., and . cauliflowers at 4s. to 6s. Sd. Last week's consignments of cabbages and cauliflowers from'. Melbourne caine forward in only fair condition, and Ihe re*, suits will , leave shippers with a heavy loss. . Fruiti—Transhipments ex Taluno of Island oranges and bananas 'are duo to-day, and il in good order and condition satisfactory rates should be readily obtained. The Dlimaroa is due from to-day, and is bringing a shipment of Seville and sweet oranges, passion fruit, pineapples, loquats, and lemons. Apples have reached this port via the Bluff, and also by the Turakina. direct from, Hobart; in all 1600 cases have come to hand. ; Butter.—Prime bulk is. in . short supply, and. consignments are recommended.. Eggs.—Supplies have increased considerably, current value being 101 d. to Is. per 1 .dozen for fresh; • Honey,: in 561b. tins, realised lb. Hamu and Bacon.—The demand has, been greatly stimulated owing to the low price of eggs. . ; ' Poultry is without any change in values. "Fungus is in short supply, and is worth 5d.-per lb: for'prime dry. \ ' ; Potatoes.—Some fairly heavy shipments are duo from' Australia this week, and this should have the effect of easing the market. Southern shippers are now askin? .£8 per ton f.o.b. . Onions.—Victorian brown Spanish are offering at £6 10a. tu 1/ ptr ton. Oats.—There is very .little trade doing in this line. Flonri—The shipments from Australia have been very much reduced, and, consequently, the market is active for New Zealand sorts. ' " Pollard •'is •In somewhat short snpply, and the current valuo -is £6,65. to' £6 10s. per ton. • • - • -Maize is 'moving off. steadily. Feed barley meets with poor inquiry, and "business is extremely dull.

THE METAL MARKETS. By Telegraph—Press Association -Copyright. (Itec. August 30,. 10.15 p.m.), London, August 30.. Copper. —On spot, £56 Is. 3d.; thrco months, £56 17s. 6d. Tin.—On spot, £162 10s.; three months, £358 5s ' '£12 lis. 3ft. . . ' SILVER. ' By Telegraph—Press A=s'-W'in?ijin-- Cnnyn?htLondon, August 29. Silver is Quoted at 24 3-16 d. per ounce. WHEAT AND FLOUR. By Telegraph—Press association- iv.pvncht. ■, London, August 29. . The wheat and flour afloat . for . the United Kiugdom totals 2,480,000 quarters'; for the Continent, 2,225,000 quarters; Atlantic shipmeuts, 58,000. The total shipments to Europe during the week amounted to. 1,655,000 quarters, including 115.000 quarters from.tho Argentina, 690,000 from Russia, 521,000. from , the Danubian districts, 143,000 from India and 43,,000 from Australasia. CANTERBURY GRAIN MARKET. ' (By Telcffrapn.—Presu Association./ Christchurch, August 30.* There is a better tone in the wheat market, consequent upon local shippers having been able to effect sales iii Loudon. Par-, eels that have been dispatched by direct steamer, 'or ;aro awaiting shipment, avo selling at 3is. 6d. to 323. 6d. c.i.f. i'or fair average quality, though inferior wheat is :probably not worth. in6re than 295. to 30s. For fair average quality wheat.33s. is now being asked, and .this figure is required to lcavo a small margin of. profit upon wheat that has cost 325. at country stations. Though the Home market is reported as quiet, there is evidently a better disposition to purchase. One reason suggested is that the cholcra in Russia is interfering with the harvesting of .tho crop there, and may' also close Black Sea ports, if that has not already taken place. There is fair inquiry locally for wheat for shipment, but, on the prices obtained* in London, no advanco on current rates is being made by buyers. A number of small lots of wheat, principally tuscan, have been bought at, 3s. to 3s. 3d., according to, quality and distance from port. Among tho lots were 450 sacks of good tuscan at 3s. Id. at a distant station, and 1700 bushels of hunters at 3a. 2d.-, at a. nearer station. There-is soia©'inquiry from Lon«

don for oats, but practically none are offering here. Tho market for potatoes lias weakened, consequent upon the arrival of Y^ ctor i ail potatoes, in..Auckland and Wellington.. At the latter placc they are reported to be selling at £7 per ton. Local buyers aro now oft'erin* £6 IPs. at country stations. A brisk trade is being done in all kinds of agricultural seeds.

Buyers. * Sellers. Sales £s. d. £ a. d. £ s. d Bank of N.Z - 1010 0 - National Bank 517 6 — Equitable fiuildiug 912 6 — — •Metropolitan 11 0 0 — — N.Z. Loan and Mer« cantile ; — 010 6 — N.Z. and _ River Plato — 2 10 — W'pt'n Investment 011 0 — — Wellington Gas (£10) 18 5 0 — — .Wellington Gas 1X6 15s.) 1312 6 — — : Wellington Gas (new issue) — 210 0 — Gear Meat (£4) ... 10 5 0 - — Gear Meat (£1) 2 15 0 — — 'Meat Expdrt (£4) ... — 5 5 0 — Meat Export (£212a ' 6d.) - 3 5 0 - , N.Z. Shipping 9 17 6 10 0 0 9 17 6 Union Steam 116 0 v — . — . , Well. Woollen (ord.) 1 12 6 3 15 0 ~ Taupiri Coal .......... — ..,1 0 6 ■ — i Westport Coal — 6 11 0 —' Westport-Stockton 0 7 0 — . — ! Leyland-O'Brien ... 1 7 3 1 8 0 — N.Z. Con. Dental... — 12 6 — Sbarland's pref. ,..119 — — Taranaki Petroleum — 0 11 0 — Taringamutu Totara 112 0 — — Ward and CoS — -.5 6 0 —