COMMERCIAL ITEMS.

Dominion, Volume 4, Issue 974, 15 November 1910, Page 8

COMMERCIAL ITEMS.

: ■■■;". INVESTMENT\SHARES. : , : .' . • No ..transactions in Investment shares were,recorded yesterday, and:there were no quotable changes in prices: The buying ,and selling: prices, were as under:—. ■.■'-.'■■ ■•'■:■':; ■ ■'.'■'" . Buyers. ."■ Seller" j. : '■ ■■ . - :'--; ;,' £e.;4. , £'s..d. National 8ank,'.•.;..■..•.:.■.••... .■*■■¥■■ • 5,17 4 N.Z. Loan and. , Mercantile ,0 10.'0 . —. N.Z. and Eiver, Plate ... ■-,' ' 2 .0 J 6 ! Well. Trust and Loan ... 7.10 0 ' — . ChristcKurch ■ Gas • 915,0 •. : — ..:.; ......:... ■.— ,'■_ 120 Wellington Gas (£10) ...„- — . 19 Z 6 Wellington Gas (now) --.. — 2 10 0 Meat Export (525. 6d.) .... — 34 0 N.Z. Shipping 11 0 0 - Union Steam .116.3 — Well. Woollen (ord.) ...... - 314 6 Well. Woollen (pref.) 2 16 6 — T&npiri ' Goal'*.-. ....0 19 3 — Westport Coal 612 0 — Westport-Stockton :. 0 7 3 0 8 0 Manning and-Co 4.0,0 - N.Z. Con. Dental 1 19 —' Taranaki Petroleum ...- — 0 9 6 Taringamutu Totara — 2 4.0 Ward and Co 5 3 6 — THE BUTTEE MARKET. There was a decided improvement in the London bntter market last week, but the quotation for ohoicest Now Zealand, butr ter must bo higher if! many of the buyors are to avoid loss. 'The, quotation last week'- wae : UOs., and from .this must be deducted the charges which in the" aggregate' a'mount "toi 10s.' :9d M .which- makes■ the net price, of the butter in London 995. 3d., eay 'IOSd.- per lb.; The sales,- made .by some Wellington-West'Coast factories: were at 11gd.,. 113 d., lljd., and 11 3-16 d.; .the buyers at these prices must suffer loss .unless there is an improvement in tho market. The butter 'market is very tricky, and though prices arb low now that is no guarantee that they will not , bo extremely high later. At the same time thcTe is just as much probability that they will. go lower. The weather conditions influence '■ the supply, and no one can forecast what the climatic conditions will be a few weeks hence.

NEW ZEALAND SHIPPING. . The report of. tho New Zealand Shipping Company, Ltd., for the year ended June 30 last shows a credit balance ■of - £69,600. The directors recommend a dividend of 10s. per share for the year, free of income tax, of which ss. per share was paid on April 7. They also recommended a bonus of Zs. 6d. per share, free of income tax, carrying forward £15,648. The new passenger steamer Rotorua, referred to in tho last report, will be delivered this Month. A contract has been made with Messrs. Wm. Denny and Brothers for a similar steamer to be delivered next year. Negotiations for building a new cargo steamer aro nearly completed. The steamers. Acrangi and Papanui' have • been sold. During tho year the company' contracted with the Canadian Government to. establish a monthly steamship eervice from Eastern ports in Canada to the Commonwealth of Australia, and the Dominion of New Zealand. The service began in.May of this year. . . ;

COLONIAL CONSIGNMENT AND DISTRIBUTING. Tha report of the Colonial Consignment anil Distributing Company, Ltd., to Juno 30 last states that the profit aud loss account, including £1056 brought from the previous year's account, shows earnings of £38,942, from which must-bo deducted depreciation and debenture interest, amounting to £12,999, leaving a balance of £25,942, of which there has been applied in payment on one year's dividend on cumulative preference shares at tho rate of 6 per cent, nor annum, £4500, leaving £21,442. The directors recommend a dividend of 6 per cent., freo of income tax, on tho ordinary shares, which will absorb £13.500, transfer to reserve account £6000 (raising it to £30,000), and.to.carry forward £1942. The improvement in tho result shown for tho year is principally due to tho greater ease with which tho market has absorbed tho quantities of meat received, and the consequent avoidance of necessity to employ outside stores. Tho diminished imports of livo cattlo and chilled beef from North America and tho jreducod nig production in tbia country

havo tended to create- a Tcadior sale for frozen meat. Satisfactory markets havo prevailed during the latter half of the financial year, in spite of the fact that the total importations of frozen meat during tho first half of 1910 exceeded tho quantities in tho' same period of 1909, when glutted and disastrous markets were experienced. A favourable season in Australia has been followed by a rapid development of business from that country, and the Now Zealand export continues to expand steadily. The directors - have to record with regret the death of their colleague, Mr. M. 0. Thomson. It is not proposed to fill tho vacancy on tho board at present. Customs revenue collected at the port of Wellington yesterday amounted to £1784 3s. 4d. : WELLINGTON MAEKETS. . Messrs. Laery and Co., Ltd., ■Wellington, report wholesale prices ruling on tho markets :-Whcat, fowl. 3s. Bd. to 3s. 9d.: feed oats, 2s. 6d. to 2s. Bd.;Dun oats, 26. Bd. to 2s. 9d.; seed oats. 2s. 10d. to 35.; Algerian oats, 2s. 9d. to 3e.; maize, 3s. 3d. to 3s. 5d.; crushed malt, 75.; fowl barley. 2s. 9d.; Cape barley seed. 35.: flour, Now Zealand, £9 ss. to £9 155.; poas, split. £18; partridge -peas, . ss. 3d." per bushel; bonedu'st, £5 155.; superphosphates, £5 to £5 55.: basic slag, £4 10s.: pollard, £6 10s. to £6 155.; bre-n. £5 10s. to £5 155.: picmeal, £5 per ton: pearl barley, 155.; chaff (oatenslicaf). £5 ss. to £5 10s.; potatoes, table. £11 to £12: 10s.; onions, Victorian, £10 per ton; molasses fodder, £5 10s.; bacon (factory), sides 7}d., hams ?d., . rolls Bia.:' butter, prime bnlk, 9d. to 9Jd- Poultry: hens, 3s. 6d.; dncke, ss. to 6s. per pair; turkeys, gobblers, 18s. to 206., hens 10s. to 145.: fresh eggs, 10d. to lid. per dozen: cheese, sjd. lb.; Akaroa machine-dressed cocksfoot, Bid. to 9d. per lb.; farmers' dressed cocksfoot, (id. per lb.; ryegrass. 4s. 6d. per bushel; Italian, ryegrass, 4s. to 4s. 4d. per bushel; white clover, 105s. per cwf LEAD. • ■■■• ' ' ..' By Telegraph—Press Association—Copyright. London, 'November 13. . Lead.-Imports, 21,958 tons,-including 7134 tons of Australian; exports, 5812 tone. FEOZEN HEAT.' . , Bj TeleCTaph-Proaj Association-Copyrtfflit London, November 12.Tho Frozen Meat Trade Association's Smithfleld 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. The quotations are not for selected lines, hnt for parcels fairly representative of the bulk. of tho shipments now on tho market.. ■ The prices which follow arc on an average a farthing per lb. more than the value ei ship,' this difference representing an average cost in expenses, handling, conveyance, and selling the meat:— ■ ■ -Nov. 6. Nov. 12.. Mutton— . d. d. Canterbury, light '. ... — — Canterbury, medium .._„ — — Canterbury, heavy .. — — • Southland L.. 4 . • 4 North leland, best ..'......'_ 41 41 North Island, ordinary... 4 4 Australian, light i. 3? 3 3-16 Australian, heavy .3 3-16 3} River Plate, light 3J 32 Eiver Plate, heavy 3§ 3J Lamb I • ' Canterbury, light 5J 53 Canterbury, medium ■ ._„ 53 53 Canterbury, heavy 5J 5J Southland. 53 53 North Island, selected ... 53 53 North Island, ordinary ... 5Jj '5J Australian, best „ — -> Australian, fair — — Bive'r Plate 1n .°..!.°!...!!!Z - - rtccf- ■ ■ Now -Zealand, ox fores ... 23 ' 23 New Zealand, ox hinds ... 31 '• 3J Australian, ox fores 2} 23 Australian, ox hinds '3.' - 3ft ■ Eiver Plate, ox fores .... 21 ZB Bivcr Plate,.ox,hinds .... 31- 3J ■ Now Zealand pork is making 6d. to 6Jd: per -lb.

. HIGH COMJIISSIONEB'S' CABLE. The Commerce and Tourists' Division of the Department of Agriculture, Commerce, and Tourists, has received the following cablegram from the Hich Commissioner for Now Zealand, dated London, November 12, 1910. Quotations, unless otherwise stated, are average market prices on spot:— Mutton.—There is a dull sale for all qualities, and stock on hand are liclit. and are firmly held in few hands. Hiver Plate mutton is in : larue supply, and Is being strongly pushed for sal*. Elver Hate,'3gd..per lb.; Canterbury, I'd.; North Island, 4d. per lb. Lamb.—The offerings are in moderate Quantities, nominally, Canterbury, 53d.: other than .Canterbury, 53d. per lb.; Australian (new season's), s}d. per lb. Beef.—There is a better demand. Sunplies of Eiver. Plato, beef ar=-heavy. New Zealand hinds, 3gd.; fores,- 2?d. per lb. Butter.—The, market is ouiot, but rather steadier. . Lpwer prices have encouraecd a much better demand for best quality. There is no demand for poorer grades. Turakina's shipment of butter arrived in ?ood condition. Choicest Now Zealand butter, life, per cwt.; Australian, 1065.: Danish,'llss.; Siberian, 103s. per cwt. Cheese.—The market is quiet, but firm. Demand' is improving, but prices are un-> chaneed. Canadian. 57a. ner cwt.

Hemp.—The market is dull, ■ and dependent on, Manila, reports. New 'Zealand good fair, on spot, per ton, £24; fair grade, £21; Manila, £20.. Forward shipment: New Zealand good fair, £23 10s.; fair, >£2D 10b.; Manila, £20. The output from Manila for the week was 20,000 bales. Stocks of New Zealand hemp. 246 tons. • Cocksfoot Seed.—The market is ouiet. Stocks of cocksfoot seed have been muon augmented by recent arrivals from Now Zealand. New Zealand bright clean cocksfoot seed, weighing 171b. per bushel, is 765. per cwt. , Wool—The market is firm, with hardening tendency. Prospects are favourable. Bradford tops: 36's low crossbreds, Is. lid.; 40's low crossbreds, Is. 2Jd.; 44's medium crossbreds, Is , . 4d.; 50's halfbreds, Is. 7id.; 56's auarterbreds, Is. IOJcJ.: 60's merinos, 2s. 4d. .' Biver.. Plato shipments.—The following shipments of frozen mutton and lamb were received from Argentina duriuc October, 1910:— Mutton. Ijamb. , London : - 92.448 4766 Liverpool -...-... 93,935 9629 , Hull ._ 9,966 245 Southampton __ 10,627 4214 , Cardiff _. 7,500 500 Ireland .... .......... 2,315 — Total _.... 216,791 19^354 ■AUSTRALIAN WOOL SALES. By Telegraph—Press Association— Copyright. Berlin, November 13. The Association of ■ German Cotton-Spin-, ners and Wool Combers, at a meeting, resolved unanimously to support the proposed divirion of the Australian wool sales into two periods. ; . ACTIVITY. IN OATS! (By ■ Telegraph.—Press Association.) Invercargill, November U. The development in the oat market reported on Saturday wag responsible for considerable briskness in business at the Bluff grain stores .to-day, and no fewer than 15,000 sacks of oats for North Island ports were being taken out of store for shipment by the Wanaka. The Warrimoo also took 600 sacks for Wellington and the Ulimarda 400 sacks for Melbourne. The latter vessel also took some 150 sacks of gra-66 seed.