COMMERCIAL ITEMS.

Dominion, Volume 4, Issue 1051, 14 February 1911, Page 8

COMMERCIAL ITEMS.

v -(," . ' , IRVESttreST BHARBB., - •.'.A -fair number of transactions were ro- ' corded yesterday. There were sales of National Bank at £6, Foildlne Oas at 225.; ;Ohristchurch. Meat, at £15 10s.:-and Wairarapa Farmers. £5 paid, at £7. Tho buying.'and Ecllinc quotations are as under:— s-:' ;. , Buyers. Sellers • . ' . ' £ s.d. £ s.d Bank of Kew Zealand ... 10 18 0 ' — • National Bank 5.19 0 — Equitable, Building ; 9 15;0 10 0 0 rJfotropoHtan '-0 0 National Morteaco'! .A'..: — . 3 5 0 NiZ. Loan and Mercantile 0 10 0 — . Well. Investment OU.O, 011 6 Well., Trust and . Loan... 7 11 6 — Weil. Deposit — 0 8 0 Chrlftchurch Gas. 917 6 10 0 0 'Fcilding Gas 116 12 0 Well.. Gas (£6 155.) 13 17 6 - > Well. Gas (new) ' 210 0 •' - • Insuranco "J 8 0 • — Ohristchuroh Meat . 15 5 0 — Gear Meat (£1) 3 3 0 - Meat Export. (£5) .......... — - 6 7 6 Meat Export (£4) — " '550 Union 'Steam 117 0 — Well. Woollen: (ord.), —' -400 Taupirl Coal 110 — Wcstport Coal. (£1) - 1 11 0 llirdmar, - Ltd.- — 0 2 6 N.Z.' Con; Dental 12 6 — - 'N.Zi Paper Mills • — 14 0 Taranaki Petroleum 0 12 6 0 13 3 Tarlngamntu Totara 2 6 0 2 8 6 Ward and Co. '... ■ — 5' 0 0 .Wilson's Cement • 2 10 — W&lrarapa Farmers^...... 7,2 6 , —. INSURANCE .IIESOLTS. ' i Tho fonr New Zealand companies which do tiro and marine underwriting havo'nnrf Issued their balanco-thects. and tho results show that .the '.undfcrwritinE -nroflt waa t'tjunl to very nearly-9J per cent. This in hy no means an unsatisf.ictorv result, but It must ho remembered that this excellent showing wan not due to Now Zealand business alone, as moot of the comnanies oncritc in Australia, and tho South Bri-tish--and New Zealand losuranco Comnanies are represented: in most parts of the' world.- Taking tho premiums, lofpw, ■oipcn«cs. and profits. ■ the ficuros of tho four institutions comparo as under:— :. ,' l'rem- ■ E*pen- ' ' iltms. ■ Losses.; scs. Profits. P. Jtritlsh ... .U6.542 197.32.1' 94.824 54,398 National ... 122.602 60.C82 44.156 17,764 N.. Zealand... 605.509 391.321 172.592 41.556 Standard ! 7.1/371 : ' 36,593 23,761 13,017* . ' : 'J-—-—— - . ~£1,118,024 £685,916 £335.355£106,775 The ratio to premium income was:— Losses oaual 60.86 wr cent. Espouses equal 29.73 per cenl. . Profit] eaual 9.47 per cent.

Tho experiences of each company arc set I out below:— , Losses Expenses Profits percent, per cont. nor cent. S. ■ British «.« • 29.03 . ,10.54 National 49.49 16.01 M.SG New Zealand .... 64.63 28.60 6.87 Standard - 49.88 32.38 17.74 Tho larger companies show heavier losses than the National and Standard, but mako up to some extent for this in reduced ex-' penws. Tho smaller companies show the larger pcrccntatro of profit. LONDON AND LIVERPOOL. Mr. Lysnar, in his report upon tho frozen meat trade, suggests that Liverpool should bo tho main port for New Zealand meat rather than London, and urges tho lower chariro at Liverpool. But, unfortunately, Mr.'- Lysnar lias understated the Liverpool charges, and instoad of being 16a. against London s 265. 3d., it is 30s. Ltd. against 295. <d. Mr. Lysnar seta out tho London charges as follow :— £ e. d. All charges, including etoraco ... 1 0 9 Cartage from 6toro to Smithftcld and market toll ' 0 5 6 UTS But this Is tho very least cliarco at Victoria Dock, which is abopt 12 miles from London. A moro accurate statement of the position would bo as under:— ' .' £ s. d. AU charges , except commission ■ 18 0 Port charges 0 14 £1 9 4 The Liverpool ; charges Mr. Lysnar places at 155., but this Is less than half the amount." The correct figures aro as under: v. £ o. d. Dock' ,'dues 0 2 2 ' Quay porterage 0 2 0. i. Cartago to storo 0 16 • • Storage 1-lOd; per lb ............ 0 18 8 Cartago: to-raarkot 0 16 I Market toll (I'd. per^carcass) 0 5 0 ■ ■ .j £i io 10 There 16 a difference in'favour of London .of ;15;"6d.' .per too. ■ BANKING IN, U.S.A.. • Tho bashing system' of .tho .United. States is the subject of discussion amongst all sections-ofj.the mercantile community in that country, and a mass of .valuable material ; bearing on, that ouostion is now in the hands .of tho-authorities at Washing- : ton. Evidence is accumulating, that tho advocates of a central bank are galninj in strength, the •: latest report in favour of that system being issued by a special committee of the New - York, Produco Exchange, appointed; some time ago to mako a Btudy of tho • national' monetary oesition. Tho report suggests: that whilo in applying tho princiolc3 of a-contral bank tov. tho,-present. system,'■ tho changes effected will,necessarily bo in somo rcfipects radical; thoy must -bo ' in l tho direction of natural-and.-healthful development, retaining what' is' good, in .thoiexisying' system. . and doing, away, with.- wliat is defective. It is.'proposed thatia central national banking- association' bo organised, to . tho stock of which every'national bank shall- becomo- a subrcriber. This central association: is to. havo tho r solo nower of. note .issue,-,and. among other functions, that of redisfountine approved commercial paper, for, national banks. This roport is one anion* a number which is oxn"ct«d to be oonfidered shortly at tho National Board 'of Trade .in 'Washington.' : - :

. •• NOTES. • H.M. Consul nt. Christlnnia • (Mr. E. P. Grav) reports that, according to a local trado newspaper, a resolution was passed nt a rocont meetinc at Stavanger of the West Norweel.m Canned Odods Manufacturers' Association, prohibiting the prefsrjVation of-sardines In bouillon- after January 31, 1911. It was also agreed' that in future sardines should bo preserved only in puro olive- nil. to the exclusion of' cottonseed oil and cround nut oil, cicept in tho case .of * convicts already made. In a paper'recently read before'-thc Brt-' tifih Society of Arte "it. wa-s stated that the railway mileage of Argentina had increased from-.10.565 -miles iu 19C1 to 15.937 miles in 1939. Of tills- larirer total 12.CC0 iuilea • were : Owned by companies, and represented. £170.0C0,0C0. of-British, cap-, it.il. • Tiieso - railway >• companies havo • contributed ..very lnntelv. to tho development of Argentina. The froien beef trade commenced only In 188'. nnd had nroKrrfccd Ktmririilv. Nt tho rate'of. 25,0 M beeves a year, until 1908 the total of 573.946 beoves.. or 185.CC0 tons, was attained.'- In 1875 Arera-. Tina flr?t bes.in to, export vrhcnt, : having had to import it' previous to that period Tho shipment for th-it year wan only SOCO tons. Thirty years later tho total export amounted to' 2.247.988 tons, and in !?"H it wns 3.636.295 tons, .of a total value! of It was tho railways which made this trade possible. Cnstoms revenue collected at tho port of Wellington yesterday amounted to £11,037 15s. 6d. • FROZEN' MEAT, By Telecraph—Press Association—Oopyricht. \ London, February 12. Tho 'Frozen Itoat ' Trade Association's Srojthfleld market quotations for the undermentioned classes of frozen meat arc based on actual sales.of not,lcsn than one hundred carouses of mutton 'or' lamb, and twenty-five ouarters of' beef of fair averoKo niinlily. Tho quotations aro not for selected lines, hut for parcels fairly representative of tho bulk of tho ship. mcnti now on" the' market. The prices which follow aro on an average a farth- , In* per .lb,' more than .the value ex ship, IhiJ difference represcntlnE an avoraso cost in' expenses, handling, convoyanco, and soiling the meat:—'. V... • .Fob. 4. Fob. 11. dTutton—. d.' d. ■ ,Canterbury, light — • — ' Canterbury, medium — ' — „. 'Canterbury, heavy ......... — — Southland ' I - — — ' North Island, best 4} 4i ' North Island, ordinary... 41-16 .4 ■ Australian, lieht ...'33-16 "t 3-16 Australian, heavy 33-16 33-16 •. River -Plate.'-light • 33 33 ~ Elver Plate, heavy'.....'.... 3) 51Lamb—. . i , ' ' ', ... Canterbury, licht ......... 5J 511-16 ' ' Canterbury, modium ......' 513-16. • 63 ,- Canterbury, '• heavy 613-16 53 Southland ;;.... — — . "North. Island, 'eelectid... 57-16 ' 6J North Island;.ordinary... 55-16 65-16 Australian', best 41 41 Australian,. fajt 4 4 Australian, inferior :... 33 35 Biver Plato 41 1 4 3-16 .iter— ' " , ■ ' New Zealand, ox fores ... 3116 ' 3S New Zealand, ox hinds... 31 33 ." ' Australian.-ox fores .; - 25, - .25 ■ ■ Australian, ox hinds 39-16 33 River Plato, ox (pros ... 3 3 River Plate, ox, hinds ... 3S 31 • Rabbits.—Tho market ia quiet. Large Sydneys aro at about 16d. ' • WHEAT. ' ' By Tclosrapli—Press Association-Copyright' . < ' London," February-12.»• Thirteen thousand fiw-hundred to fifteen thousand quarters, three parts January. February shipment, sold at 345. 9d. • ■ ; LEAD. . By .Telegraph—Press Association-Copyright. London, February 12. > Imports for. tho month* 23,501 tons, including E4Ol Australian; exports 6022,. HIGH COMMISSIONER'S MARKET- ' ' - ' REPORT. Tho Commerce and Tourists Division of tho Department of Agriculture. Commerce and Tourists, has received tho following cablegram.from the Hiirh Commissioner for. Now Zealand, dated London, February 11, 1911. i (Quotations unless otherwise specified aro average market prices on snot):—. ' Mutton.—Thoro has . been no alteration in tho maiUct since last wcok, viz:—Canterbury. 41d. per lb.; North Island, 4d. per'lb. Lamb.—Tho market is weak. -' Stocks .of lamb on hand aro heavy for eirl.v in tho season. Canterbury i 3 extremely; scarco. Canterbury,'s3d. per lb.; other, than Canterbury, 53d. per lb.; Australian, 4Sa. per -lb. Beef.—Tho"market, is quiet, but steady; New Zealand hinds. 33d. per lb.; Now Zealand fores. 31d. per lb. . ' - Butter.—Tho market. is , rather unsteady on account ,of somo holders of butter forcing sales. Buyers will not buy more than immediato requirements. There' is a prospect of improvements to-day; choicest New Zealand butter to-day 104s. nor cwt.: Danish. 118 a.; Australian, 100s.; Siberian, 102s. '• Cheese.—The market ia slichtlv weaker with less demand. Whito 575. • n'cr'civt.: coloured. 60s. per cwt. . , Ilcmp.—Tho market is somewhat.steadier New Zealand, good fair spot, nor tou. £19 55.; fair grade, £18 155.; fair current Manila, £18 15s. Forward shipments:—New Zealand, good fair, per ton, £19i 55.; fair (trade. £18 155.;, fair current Manila, £1B . 15s. (?). Mutton and Lamb.—River Plato shinmcuts received during; January, 1911:—. . Mutton.- -Limb. London 86.000... • Jt.iro • Livorpool 99.174 61,707 Hull 23.060 • . 1,000 ; t Southampton :.... 8,210 6,783 Cardiff ......' 4,121 ■ - 2.678 • ' Plymouth r. 1,250 500 . ', .221,815 . 103,677 '• January, 1910 ' 134,666 . 18,207 . Butter to all ports. 6.344cwt5. ' AUCKLAND WOOL SALE. 1 (By Telegraph-Press Association.! Auckland, February 13 Tho third and last wool sale of tho season in tho Auckland province will take place' to-morrow. Some - 2000 bales-have

"been catalogued, an increase of .over SCO hales upon the offering at the corresponding salo last year. This increase is partly accounted for by tho.fact that the reduced prices ruling caused a good many lots at tho last salo to be passed in, and a number of theso havo been held over.