COMMERCIAL ITEMS.

Dominion, Volume 4, Issue 1050, 13 February 1911, Page 8

COMMERCIAL ITEMS.

••;.. , INVESTMENT SHARES. • '"• Oii Saturday sale-i woro recorded of N.Z. Loan aha Mercantile at 10s.' 3d.,. Now Zealand -Insurance at £•! 4s. 6d., and Chrietchnrch Jleat at £15 10s. Tho buying and selling quotations were as under :— i : "'- , ■ - Buyers. ' Boilers :- •-.' . . £ s.d. . £s:d Kational Bank 5 19 6 — Bank N,Z 10 15 0 - Equitable - Building 915 0 10 0 0 Metropolitan ..-. :.. 12 0 0 — National Mortgairo — -.35,6 ,N,Z; Loan and. Mercantile —'. ' 010 6 Well. Investment ......... 0 11.0- Oil 6 tt'cll. •.Deposit :... ' — • 0.8,0 Chrintchurch Gas 917 6 10 0 0 Foilding Gas 119 1 S 3 Well. Gae «6 155.) 15 17 6 • .— :Well. Gas (new) 2 10 0 — .Ohrlstchurch Meat ........ 15 2 6, — Gear Meat (£1) 5 .3 0 -' Meat Export (£5) — . 6 7 6 .Jfoat Export. IM) — 5 5 0 ,T;nion -Steam 117 0 • —- ;\Vcll- Woollen (ord.l ...... — ■ 400 ■Wg\l Woollen (pref.) ... 215 0. ITaupiri Coal 11.0' . 1.-1-6 ;.AVcstport Coal (£1) - 111' 0 liS.vland-O'Brien 17 0. .."-.. Mraniar, Ltd ;■■■—, 0 2 6 JT.Z, Con. Dental 12 6 - K. 7.. Prn« --. ;.'....? - 210 0 N.Z< Portland Cement ... — , - 115 0 N.Z. Paper' Mills - 1, 4 0 ■Tarisaki Tctroloum 0 12 6 0 !3 0 TnrihEramutu Totara 26 0 ,28-0 Ward"iand Co: 415 0. .5 0,0 'Wilson's Cement-.;.......... 2 10 — ;,-■" "... GAMBLING' IN TIN.: ' Tho fluctuations in . tin ' show tho extent to which tho cambling • in this 'metal goes on. About a fortpieht ago tho ."price topped £2CO, . reaching- as high as ■£2i3. At tlio clo:o of 1910 tho prico vra? •£I7ST-10s., a;id tho year previously only : '£147 lCs. During'the boom at tho-cloeo ;of '-19C6 it also-topped £2CO. a. ton, while, early,-in 19C8■ it vent- down -to "JE-120. ■-■ The lowest price touched last year was £143 :1s;" 6d. Recent spot quotations were as •uiidor:— ".:,"" .' , •.■■.-■ - "■-< .•;■.■;■'■ ' " £s. d. : January 24 190 15 0 :' Jnnu.iry 25 195 0 0 '■■" ''January .28 1915 0 0 ■ ; February 1 : 19S 15 0 ■"■■ February 2 19S. 0, 0 • February 7 .'...;... IBS 5 0 Fobrnary 8 186 0 0 ■ : : February: 9 181 5 0 V February.; ;,,. ~172,0 0.. . A variation of £26ipcr t/ra in the course' of ninQ or ten days will mean heavy losses and gains to tho opcratoro. , GERMAN SHIPPING. German-shipping results last year wcro not so good as those of British lines. Taking eighteen of tho principal German Etcamship companies, figures compiled by "Fairplay" show that shareholders received an a'vefagb of 3.93 per cont. in. dividends on their capital, which compares with 4.85 per cent, distributed by 23 representative. -British -companies In,- IBC9 the average German dividend paid by tho concerns in question, wqs. 0n1y.,1.13 per ,onnt., in 19C8 it was 5.35 per ccnl., and' in JWCI tho distribution averaged 8.14 per \cent. Tho last-named return was' duo ito the profits made in chartering vessels Up tho Russian Govornmont during the ' ; war, with Japan, and the disastrous results disclosed in 1909. were cauEcd by tho 'failuro of.-tho emigrant traffic to the United , . States.- Tho companies whose ac.coynts form tho basis of calculation own about 75 per cent, of tho steam -.tonnageUnder the German flag. Tho profits for tjio- current year, promise to bo , much ! moro favourable than thdso of th'o'preced'ing.- twelve months, as witness tho information regarding tho Hamburg-America Lino cabled recently. That organisation' hue just declared a dividend at tho rato of 8 per cent, per annum, aa ar.iinst 6 per. c«nt. in' the proviouti scar. Whether a, similar improvement will be recorded by tho shipbuilding trade remains to bo Eoen, ; but tho past yoar has been an unfortu- , nate , one. for' the industry, and many ooncerns-that havo in tho past paid well have , bad to pass their dividend. Tho total return to shareholders in fifteen representative companies ie 4.93 per cont. i.on-"a capital of £22.238,380, but if tho ' figures of the armour plate and steel firms bo omitted; tho return to tho share-.holders-of tho other companies has been only 1 per cent, for tho year. The' power attracting general attention and interest at the moment is tho internal combustion onglne of the gas and Diesel type, and by-Oio end of 1911 it is expected that quite a number of vessels will bo propelled by this engine. Should it prove a success, the eoonomy will bo 6uch tnat it in expected it will lead to a revolution is. tho shipbuilding land engineering indu3jry. •- -, •" .- '

STANDARD INSURANCE. Tlio balance-sheet of tho Standard Insurance Coinrany for tho year ceded December . 31, 1910, is very satisfactory. Tho fireihium income, after allowing for reDsUranccs, discounts, and return premiums, totalled £73.371, and tho losses, expenses, and underwriting profit in ratio thereto show as under:— . , - •,< ' '■' . >„ »■'■•.•■'■'-■ ! v " X ■ .Percent.' < Losses 1...::..;....... 36.E93 «.88 ' ■ Expcnscß,. 23,761 12.38 ■ Profit .•....:.... 13,017 17.74\ ' • - ■ , . ■ litfi. icolo' The underwriting prsflt is very subRtintial, and-must bo quite a, record for, the company. To the. underwriting profit must be added,interest on investments,* £7573, and transfer fees, £23, making the not profit for tho year £20,610. and there 'was brou"*ht forward from tho previous •year £8139, maliing available £28.749. Tho ■ dividend and bonus for the year toMthcr absorb £6312. tho sum of £10, MO is added to tho reserve fund, which now .stands at £70,000, and £25COis added, to the relnsnr-mce reserve, leaving £7937 to ; be' carried forward. ' j ■[.., DEETSUDAR. For many years past tho question of ostablishing tho beet 6*J-*ar industry in Now •Zoaland haa enpaEcd tho attention of 'many peoplo in Kew Zealand, and refcrenco'has peon made to it moro than onco in tlio Budgets prefcntcd to .Parliament. There is believed to ho no difficulty in crowing tho richt Uind of roots, but the moro' serious -iroblmn of whether tho in. dustry could bo mado a. commercial suecese Is tho trouble. If tho ohject is merely to fecuro the local trado in eu--ar, it" would not bo worth tho troublo nnd eipcntji'i because, at moEt, the New Zealand trado is a restricted olio, and there woujd. bo the serious competition o£ cano euehito reckon with. If it is intended to develop an export trado with a Stato bonus as au cncouraßomcnt, tUun ,thu questionaiis.es, whero is tho sugar to bo"exported? Australia is an exporter, tho East is not avaiiablo for the same reason, and fireat Britain '■ can draw upon various countries, but particularly from Continental Kuropo at a.much cheaper rate than could possibly bo supplied from New Zealand, It, is not very often that tho world's impof sugar, runs short, and just, now cet sugar ie in excess of demands and tho market is stacnant. ' CommentinE upon thi3 stagnation of the nmrkct for beet sutrar, tho London "Orocer.V on December 24, wro!« that earlier in Iho campaien tho impression was fairly general that the crop would equal e.000.C00 tons and this anticipation had been moro than conurmod by tho latest ejtimates, as tho yield of stif-ar from the roots durinc November had beqn very favourable. Tho f-rcatcrt increase was in Rutsia, whero a- much larger area , wae sown; For several weeks the market baa

been in a stagnant condition, thero having been no disposition.to buy since dealers had replenished their stocks.. At .that Seriod of the year there wa3 seldom any csiro to-*enter!lnto fresh commitments, and with ,tho excessive, supplies . awaiting disposal, buyers wero exercising increased caution, as tho opinion was licld that notwithstanding tho severity of tho decline this autumn ouotatione had not yet seen their lowcfit. The principal feature of tho market of lato had been tho rcscrvo ,nf fabricants who preferred to warehoUEO their sugar, ns exports wcro not-in accordance with tho lingo stocks accumulating on. the Continent. It remained to be scon how tho ciccseivo supplies would be dealt with, but tho real test of tho market had yet to come. A period of stagflation was ovidently in front of Continental- sollers, and caution was necessary on the part of buyers on that side, an thoro was moro than sufficient euear for all requirements. COMMONWEALTH FItOZEN MEAT/'" The returns of- exports of frozen meat from tho Commonwealth during 1510, compiled by. John Cooko and Co., show tho enormous expansion in tho trado during the period named. Shipments of mutton totalled 3,132,387 carcasses, lamb reached 1.737,871 carcasses, and boot totailed 639,991 cuarlcrs. As compared with the exports of 1909, thoso of the year just terminated show an increaso of , 1.499,345 carcasse3 mutton, equivalent to 92 per cent., lamb increased' by 467,411 carcawn, equal to 36 per cent., and beef by 249,365 quartors, equal to 64 per cent. In tho last-named Queensland, of course, takes tho load with 576,918 quarters or 90 per rent."of the total. ■ In-mutton, New Couth Wales holds premior placo with 1,694,769 ■carcasses- or SO■ per cent., but in lamb Victoria.- outdistances all the other States with 1,070,937 carcasses equivalent to 60 per cent. Tho following table of comparison will be of interest:— ' -Mutton'" ' Laiob Bcsf ■ carcasses. carcaetoe. quarters. 1906 1,160,272 ■ 1,293,804 294,392 1907 1,318,957 1,347,456 ■ 303,118 1908 • 993',<04 1,379,269 234.0C9 19D9 1.633.C42 1,270.460 390.626 1910 - 3,132,387 1,737,871 " '. 639,931 : •■• customs. The Customs revenue ' collected 1 at the port of Wellington ■on Saturday totalled £384 14s. lOd., the amount for the week being £7372 Bs. 9d. Compared with tho corresponding periods 'of last' year, the receipts for- tho past six weeks show ae under:— 1911. 1910. -.•■'•.' £..:■£ January' 7 . 8,143 ■ . 10,599 ' January 14', „.... 24,024.. ~ 17,699 January. 21' i....'.9.<39 7,<65 - January 28 25.2<6 20,236 February 4 '..:... 12.958 . 11,356 February 11 7,373 21,«7 .' '.' 87,182. 88,922 The beer duty for tho week totalled £193' 165.,'. ne compared with £207 :10s. ; for tho corresponding week of last year. '' : LOXDOX MARKETS. ■ : -.-' By Tclccraph-Vress Assb-latllin-CoDyrlslit ' •• (Rec. February 12, 5.5 p.m.) ' . London, February 11. ; Copra.-Tho market. ie ' Hat. South Sea, in bags, is nominally £22 per. ton. Hemp is firm. February-April Bhipmonts aro ouoted. at £19 ICs. per: ton. Itubbor.—Fine hard Para-.rubber'•■is quoted. at ss. lid. per lb.• •■■ ,; . Cotton.—The Liverpool quotation for middling /upland American, 'cotton . is 7.« id. pcr.lb. .-. ■•••„•'■; "• ;• ' " '■ TOE METAL MARKETS.' :■< liyTclccrnpli. I':'"'; ■! ; \' "■ '.'jriyrlßhf. j (Rec. February. 12, 5.5 p.m.\ .. ■ ■ London, February 111' ' Copper—On' spot, £54 V .153. .per .ton; three months, £55 JCs.'; ■ electrolytic" £57 ssv Tin.—On- spot, £178 10s. per • ton; three months. £173. ~ . Lead.—Soft foreign, £13 Za.' 6d. per ton. Silver.—Bar silver is cuotcd'. at , 23 15-16 d. per opneo standard. . i ... ■; \' THE, TIX' MARKET.'■';-.■ ' By Tclecrabb-Prcss AwiMiailo'n-CoDyrlßhi.''. * (Reci February"l 2,' 5.5 p.m.) '' '■:i •-.. : London, Fcbmary 11, Tin" Is strong on influential' buying. Messrs. Vivan, Younger, and Co. report that users have apparently covered their needs, but- a largo consumption is assured for months to come, and there is no prospect of an increased supply. FEILDINQ MARKET REPORT. Messrs. A. 11. Atkinson and .Co., Ltd., report:—Wo had tho usual penning of poultry on Friday, old birds predominatr ing, and a number of half-grown and chicks. Usual marltet rates were made for these. Pigs wcro forward in only limited number, and no quotablo cliango in values. Largo quantities of poaches, plums, and pears were marketed and sold at quotations. Potatoes sold .to Sβ. per bag, and woro not forward in any quantity. Wo sold in tho cstato of tho lato Mr. Stawbridge, BOU6O and section, Makino, tho price bcinit £156. Quotations :-Weanora and slips, 3s. 9d., 4s. 3d., 5». 6d., to 75.; stores, 14s. 6d* to 175.; ponies, 325. 6d.. to "£3-10 a. Poultry, at per-pair,- hens, , 2s. 3d., 25.-6 d., 2s. 9d.i chicks and half-grown, Is.; Is. 6d'.,-45.9d.,.25., to 2s. 9d.i roosters; 25.9d.',' 3s. 3d.', to 4bl; ducks. 3s. to 45.; bantams, 9d.; hen and chicks, 2?. 9d. Produce :• Potatoes, 4s. to 55.. 6d.' cwt., 9s. per bag;' onions, Id. to l?d. lb.; Jap. nlums,' Is.: 6d.. ! t0 '2s. 6d. caoo; qthers, to 3».'i pears,-3s. 6d.,'35. 9d., 45.; apples, 2a. 3d to 33. 6d.; peaches, 3s. 3d., 3s. 6d., 3s. 9d.,' 45., to" ss. 6d.; chaff. 3s. 6d.: maize, '4s.| oats, 35.; bacon,-7d;; hams, 9d. ■■ .»