COMMERCIAL ITEMS.

Dominion, Volume 4, Issue 1054, 17 February 1911, Page 8

COMMERCIAL ITEMS.

INVESTMENT, SHARES... A fair number of sales were recorded yesterday. TUcro were Impactions •In National Bank at £6, Union Steam nt 375. 3d., Taranaki Petroleum at 135.. and U'nrd and Co. Nt £5. Tho liuvins and selling quotations were as under;— ; i Buyers. Sellers. £ a. d. £ 8. d. National Bank 6 0S — Bank of Now Zealand ... 10 18 0 — 'Metropolitan 12 0 0 N.Z. Loan and llercHllo 0 10 0 — Well. Investment — . 011 6 Well. Deposit — ■ . 0 8 0 ChrMchurch Oas 9 17 6 10 0 0 Fellduiit Gas — 12 0 Well. Gas (£6 155.) 13 12 6 - N.Z. Insurance — 4 5 0 Ohristchurch Meat — 1512 6 Gear Heat (£1) 3 3 0 — Meat Export (£4) — 5 5 0 Union Steam 117 • 3 ' — Well. Woollen (ord.) ...... - 4 0 0 Well. Woollen (prof.) 215 0 — Ilikurnngi Coal — 10 0 Taqpiri Coal 110 — Leyland.O'Brien — 17 6 N.fc. Paper Mills - 14 0 Taranaki Petroleum 0 12 0 0 13 3 Taringamntu Totara . — 2 8 0 Ward, and Co — 5 0 0 POINTS ABOUT WOOL. The annual ropoTts of London brokers aro now reaching tlio Dominion, and from those already to hand wo have extracted the following" passages:— Tho total increase In tho production of Australasian wool proves to havo been about 146,C00 bales, of which 21,000 bales wero from New Zealand, and tho. actual inorcaeo in tho imports into the United Kingdom amounts to 70,548 bales. It EPcakfc well for tho soundness ot tho industry • in Europo that the increased supplies . should, have been absorbed without difficulty, and that at the clc6o of the season thero were practically no old stocks on hand. In tho absenco of support, from the United States this is all tho. 'moro' striking, for it is safe to say that if ' America,. instead' of being a seller, ■as she actually'was at two. or threo' oi tho sales, had'taken her proper place as a buyer, tho course of prices would havo been somewhat different.

As to merinos. •at no 'time has there been, very l&rgo accumulation of stocks in ustfrsV. hands, trade . all throush. tho year havinc been ~ sulTicicntlv activo .to prevent • such an occurrence. Neither has .thero been any actual shortage in wool in; general; althoueh for somo • eradee buyers doubtless had at times somo difficulty in: securing exactly what thc.v wanted.:, Speculation, on tho London market, owing to tho comparatively hich nriws ruling, has been indulged in to a very small extent, buyers all through apparently acting on tho arfumption that values if 'they- moved at all wore moro likely to fall than rise.

Consumers were in the hnpnv 'position of havtnc their machinery fully employed, and had always'plenty of orders on their Books to keop them busy for months ahead: and, having bought freely at tho Australasian sales, they wero never in any fear of boine hampered by insufficient supplies of wool. i Too mucli importance cannot be attached ia tho certainty of a continual and continuous »demand ..for fine. .well-bred merino Sorts. \tho "supply of which- is not sufficient.

As to crosshreds, tlno and medium ouallties have felt, especially durinc tho last nine months, the lack of .Amorica'n support. and conseouentlv havo depreciated somowhat in value, though not moro than ,10 per qent.; coarse descriptions, on tho other-hand, aro fully aa high as at this ■timo last year. ■ , ■ Tho • imprQvements noticcd during the Is st few years In wools from South Africa, ■and in particular from tlio Oraneo Itivor Colony, and - Westorn District .of Capo Colony, havo made further strides, and many of tho best clips seen on this market,-, though of small she, wero very superior in growth, breeding, claoinE. and Retup. . •, , ■ .

;VTho. year ends with stocks again w»U .cleaned up. and with prospectivn Funnlles not-. a sreat deal in .excess ol last. • , \ It appears probable that the world will not -, have appreciably raoro wool on a (>lopn-6Coured basiji to' deal with during tho: ooming year than in 1910, and thin :must bo .constantly, borne ,in mind when anv , forecast of the probable course of prices ;is . ventured-.upon. —;i ....... .. •■(With machinery so well cmnloved. and people, accordirtir yto i.frado" returns., »p----jwrently so jitottfcftriifc. tho demand' 16oka lilto being eaual- "to' that of last' year, especially ns it is reasonable to look ror nemo revival from tho United. Sta<e». whiro about 100 millions of' tho ,'world's •largest consumers have to bo clothed. But in a country where tho tariff I 3 >tho pl?-y»hin<f of politicians and business Is so affe:tcd.by nolitim, it is unsafo to draw natural conclusions, as they may bo so easily, upwt. ■ • - • . Should . the >.*-nrejent gon*>T*V.lv . satisfactory condition of tlio world's trade take a turn 1 for* the worse." wool v.il"ci3.' b»jn<» Lno doubt on a fairly high. though t<-nrc»lv dararermts. level, mi»it cor.«c(mentlv take a., smarter. fall. Confidence." In such •nn evont. is soon shaker., nnd experience has shown that the .first economic of ennsltmins publio run to apparel. . On the wholo. however, while it is only to look for eom<\ fluctuations. afforflintt to tho incidence of sunni.ioo. the dominntJpT Motors, viz.. nn • extending deif.ind fnd fllinronorthnnto iiereaso of woo! production. combined'with > larr»r Mid pro#»nd de,n w T»rs§ of, likely tp keen tho!artielo or. a fairly high level for some years to come.

,Cns'«ms- revenue 'collected at tlio rrrt of t Wellington yesterday amounted to. £1798 18s. <d. .... ' 4 ;;; . '' WHEATY ' ~ '' V ■ . (E«c. February 16, 10.40 p.m.} .V- London, February 16. Wheat:—An'Australian cargo has "been sold'for 545. ." THE METAL MAHKETS. ■ By,Telegraph—Pre»s As-socifttlnn—Copyright tKcc. February 16. 10.40 p.m.) ' London, February 16. . '.Tin.—On spot. £196; thrco months, £191. Tho market is nervous, fearing frenh manipulation... Americans have bid to £204 for cash. .Lead, £12 18s. 9d. per ton.' n ? SILVER. Br Tclefrirh— Props Association—Copyright ; . Wee., February 16, 5.5 p.m.) London, February 15. /Bar silver is Quoted at 23 13-16 d. per ounce standard. TALLOW SALES. Hy Telegraph—l'rcn* ■ "nnyitrht ;, London. February 15. .At the tallow sake IC3B casks wero offci> ed and 539 sold. Prices realised Mutton, fine,' 375. 6d.; medium, 355. 6d. Beef, flno. 375. 3d.: medium. 355. ■ AUSTRALIAN PRODUCE . MAHKETS. ' By 'i'elt*rapli—Press Association- Copyright "(Sec. February 16, 11.15 p.m.) _ , ; Sydney, February 16. Wheat is quiet, and 6hippere aro not operating. Quotations are nominally 3s. 3Jd. to 3s. 4Jd. Flour, moderate trade at £8 ss. Oats, -Tasmaninn Sparrowbills. £s. 7d; j: Giants. Zs. < Bd.; Al/terian'milling, 2s. sd;; feed, Js. 3d. Barley. Cape, 2s. 6d. Bran', £4 ss. Pollard, £4 10s. ■ Maize. 2a. 6a:' to 2s. 9d. Onions. £6... Potatoes. £5 10s. to £7. Butter.- 90s. Bacon, 7d. Cheese, 6d. '• 'Li. - Melbourne, February 16. Wheat.—Spot- business is confined to blcachcd grain.-.which is Quoted to 3s. l}d. ox store, direct from, the country. Considerable purchases aro beinir raado at the equivalent of 3s. 45d„ dolivereii aloneside. Flour. £8 10s. Oats, milling Algerians. 25.: feed. Is. llld. Barie.v, malting Chevalier. <s. ' 71d.: Cane, 2s. <!d. Maiie, 2s. Sd, Bran and pollard. £4 15s. Onions, £3 10s. Potatoes, £4 10s. to £5. Adelaide, February 16. Wheat is . ou.oted nominally' at 3s. 4d. Flour, £8 2s. 6d. Bran. 12id. Pollard, 12J. Oats, Algerian. 2s. Ltd. MELBOURNE HIDES MAKKET. Dy Tcleirrapb—Press Association—Copyright ( (Bee. February 16. 11.15 n.m.) Melbourne, February 16. Hides are in fair Eiippl.v, and prices aro firm and unchanged.