COMMERCIAL ITEMS.

Dominion, Volume 4, Issue 1057, 21 February 1911, Page 8

COMMERCIAL ITEMS.

INVESTMENT SHARES. s The usual Monday dullness prevailed ii i tho investment market yestorda.v. Ni sales.were recorded, and o=!y a few of tin ■ shares wcro quoted. Tho buying and ecII • ing prices were as under:— I , Buyers. Sellers £s.d. £s.d i National Bank ...'.... 6 0 0' — Bans of Now Zealand... 10 19 0 — Metropolitan 12 0 0 — Nntion.il Mortgage - ■ 3 5 Well. Deposit — 0 8 1 Fcilding das lit Ml N.Z. Insurance — 4 5 1 Gear Meat (£1) 3 3 0 - Meat Export (£4) - 5 5 1 Union Steam 117 3 — Well. Woollen (ord.) ... - 4 0 ( Well. Woollen (prcf.) 2 15 0 . -• Taupiri Coal .; 110 .-" —. Westnort Coal — 19 1 Miramar, Ltd — ". .0.2 ( N.Z. Con. Dental 126'■ '■ -'• Taranaki Petroleum OIS 6 . 013 <; Wilson's Cement ....'. 2.1 0 ': —' , BEEF TRADE OF AMERICA'.- .-'.-. : It 6eems that the United States-export trade in meat is coming to an end. The internal consumption has largely overtaken tho 6iipply. But the fact that chilled hoef is brought from tho Argentine has rendered the trade' unprofitable. Recently, too. it has been-demonstrated-that-chilled beef can bo imported from Australia, and tho United States could not-supply- the meat at the prico which tho rArgcntino and Australia can do. - Below is a statement of tho past ten years' beef exports from tho United States. There is practically no export trade in mutton:— Tear. Beef.' Value. To June 30. Pounds. £ . ■ . '1901 151,748.333 14,161,341 ' .■ ■ ' 1902 301.824,473 . 12,025,243 . 1903 254.795.963 , ; 11,191.901; :' 1904 1 299,579.671 . 14,095,966 • "'■• ISOS 236.486,568 12.798.228 •19C6 268.054.227 13,543.807 '.. 1907 . 281,651,502 12,432,715 19C8 201,154,105 10,135,416 . '1909 122,952.671- 6,272,096-.' ~,,1910...,. 75,729,666.. . 4.066,517 ' . 'The above figures cxDlain tho activity, of tho> Beef Trust in seeking now sources of supply.i It is scarcely likely that tho truat can-again dominate the. London market, even. supposing that the trust secures a footing in tho Argentine. New sources of supply. lor beef. must.bo discovered, for oil Europe oractically is in want of beef, and tho. now sources will bo found, Already Venezuela and South Africa aro shippers and-although tho quantities exported aro insignificant, they, 'arc.certain to increase steadily. Mutton-is not likely to como under tho mflnenco of tho Beef Trust, and consequently New Zealand has littlo to fear. •..:. . . ; NEW INSURANCE POLICIES. ' 'In' indemnity 'insurance; there is always something new',to chronicle, and- tho latest novelty is tho policy issued by tho Northern Equitable to opticians, covering them for a small premium against actionsanaw, damages, and-costs connected with errors or asserted errors in adjustment of speotacies. This is a natural enough sequence from tho druggists' indemnity against mistakes in dispensing, but this now 'development must surely bo getting near! tho •.limit Tho., Glasgow Assurance Corporation ,is now-ready to Goll to aviators protection against tho financial consequences of tho disaster, ■ which, ■ only too often, accompanies, the art. -, The risk >is limited to £125 on death by accident with £100 and £150 ■ for loss of one or two limbs or eyes, and tho premium to cover only-three months is £6 6s. . It will ba observed that tho total disablement allowanco is more than' Is payable at death, tho lattor being considered the mora,'likely occurrence. Working at tho charge.as a whole year on tho "total disablement" basis, the nromium for £1000 of cover would bo £168. ; SHIPBUILDING STATISTICS. Although tho number and tonnage of j.vessels under construction- in tho UnitedKingdom (excluding warehios) at tho end of Doconiber show., slight reductions on tho figures at tho ondof Sontojnbcr, they aro considerably in excess of the number and tonnage building twelvo months ago. According to returns compiled by "Lloyd's Register of Shipping" tho number of vessels building at the ond of December'was 363, of a gross tonnago of 1,131.500 tons, as compared with 368 vessels of 1.154,200 tons ?ross at the end. of September, and 331 vessels of 913,400 tons gross at tho end of 1909. Abroad there are 290 .vessels of 567,600 tons gross under construction. Of threo Germany claim's tho largest' share: with 63; vessels of. 160,900 tons gross, while the United States ranks second -as regards numbers, with 69 vessels of 96.300 tons frross.. although the 24 vessels building in Franco total 109.100, tons gross. Tho number of warships under .construction in tho United Kingdom is 65. of a displacement 0f'289.500 tons. •• Of these, six with 56.930 tons 'displacement aro beinir built at tho Boynl Dockyard;, and 60 of 232.600 tons (including seven of 8300 tons for foreign countries) in -private yards.' Customs rovenuo collected at the port of Wellington yesterday amounted to. £1291 7s, 9d. , ■ !;V GERMAN BANK RATE. By Telegraph-Press Association-Copyright .-■ " \ ■■ London. February 19. :,Tho discount rate of tho'.lmperial Bank .of Germany, which was reduced from 5 to H :oor cent, on, Fehruary 6. has been further reduced to 4" per cent. • WHEAT AND FLOUR. Dy Telegraph-Press Association-Copyright . '•; London, February 19. Tho wheat and flour afloat for • tho United Kingdom totals 3.110.000 quarters: for tho Continent. 2.505.C00 quarters; Atlantic shipments,, 132,000: Pacific : shipments, 16.000.-. Tho total shipments to Europe during tho week amounted to 1,250.000 ouartotw, including 395.000 from tho Argentine.'3l3.ooo from Russia, 66.000 from Danubion districts, 73,000 from India, and 160.000 from Australia. ' ' . FISHY N.Z. BUTTER, fly Tclccraph-iTess Association-Copyright ■ ■ London, February 19. There are complaints of fishincsa with regard to many brands of New Zealand butter. :',"'./ LONDON MARKETS. By Telegraph-Press AsserlEtlnn-CopyrigbL _ .' , ' London, February 19. Hemp.-Thc market is dull., FebruaryApril shipments, £19 10s. per ton. Copra.—Tho market, is ouiet: South Sea in bags, is quoted at £21 12s. 6d. per ton. Cotton.—Tho Liverpool quotation for middling upland American cotton is 7.}Jd. per lb. Rubber.—Fine hard Para rubber 'is Quoted at 6s. 3d. per lb. Wheat.—Three cargoes of Australian wheat sold at'3ss. 9d.. 345. 3d.,' and 345.: 41d.' nor aunrtcr each respectively, and 14.000- quarters of February shipment at 345. THE METAL, MARKETS. y ßy Telegraph-Press Association-Copyright. '■ London, February 19. Copper.—Cash. £54 17s. 6d. per ton. Tin.-On tho spot, £192 10s.; threo months. £187 10s. • , Lead, £13 per ton. . HIGH COMMISSIONER'S CABLE. Tho Coramcrco and Tourists Division of the Department of Agriculture has rocoiv-' cd the following cablegram from the Hieh Commissioner) for Now Zealand, dated London. February 18. (Note.-Ouotatlon«. unless othcrwiso specified, are averae'e market prices on snot.):— ■■• Jlutton.-Trado for all classes of mutton ha? been very slow, nnd prices nre barely maintained. Stock is moderate. A large proportion nre heavy-weights which aro difficult to sell. North Inland 3Jd. nor lb. -~...-. ' Lamb.—The market'is- dull, with very little business doing. Tho 'tnnnly exceeds the demand. No change in prices and quotations show a weaker tendency. Canterbury. - 53d.: other than Canterbury, sjjd. per lb. , Becf.-Tlie market is ouiet. Stock of frozen beef |r small, and supplies of American chilled beef arc small. Nominally New Zealand hinds, 3Jd.: feres, 3jd.; chilled, about the same price. Butter—The market is- steady, with a moderate Inquiry. A largo supply •on hand. Superior grades arc in demand. There are a few complaints of flshlncM In the New Zealand butter. Chnlrcjt New Zealand butter, ,1055.: .Australian, 101s.: Danish. 1235.' Checsc.-Thc market, is ouiet. hut (Irm. White. 565. 6d.; coloured, 595. 6d. per cwt. licmn.-Tlic market is quiet. The output from Manila for tho week was 26,000 bales. ■■■..-

Wool.—The market is firm, with a hardening tendency. Bradford nuotatlonj:— I 6's low crossbrede, Is. Id,: 40 s low cross-

0 brcds, Is. lid.; 44's medium crossbreds, Is. 5 2W.i M'o half brcds, Is. 6id.; 56's miarter- >. brcds, Is.-M.; 60Vmcrino«, Zs.'ljd. ■■ ■ 11 Kauri Gum.—The market Is firm, and i. thcro in a largo demand for better Grades, a Ordinary to fair thrce-auartcr r.craped. a £8 55.: fair half-scraned. £5: brown fair 1 half to thrce-ouartcr-scraned. £4 55.: ;t hrown pickings, common to good, £2 2s. • 6d.: hush. fair.to Rood jialo and ambor|i scraped. £8 2s. 6d. '• Cocksfoot Seed.—Tho market is quiet, but '• firm.. Bright clean New Zealand seed. a weighing 171b. ner bushel, 755. Der cwt.