COMMERCIAL ITEMS.

Dominion, Volume 4, Issue 1058, 22 February 1911, Page 8

COMMERCIAL ITEMS.

'-."."'■ INVESTMENT! SHAKES, 't Sales wcVa.Sn'ado ycjterday ot Taringamutu Totara at £2 7s. 6d., and Taranaki Petroleum at 13s. 3d.,* 13s. 6d:,-"l3s. 9d. II is difficult to understand thc.advanco in petroleum sharos, for.nothing of importnnco has occurred to warrant'tho advance. The company will apply for tho.Government bonus, but that does not amount,to much. Bcforo the oil industry attains any degree of commercial success, a vast amount of capital must bo laid out and expert management secured. Thore is a feeling locally that tho venture will bo offered in London in about eight or ten weeks' time by colonials visiting tho metropolis. The buying and selling quotations woro as under:— ' ' '" _

. • MONET BATES. • The reduction of tho discount rate of tho Imperial Bank of Germany from 4J per cent. t0.4 per cent, announced a day or two ago, may bo regarded as tho natural consequence of tho Bank of England rate. Monoy gives ovcry indication of being comparatively cheap, especially in London, during tho next four or fivo months. Tho Coronation in Juno will attract a largo number.of visftors from overseas, all of whom must take extensive credits with them. Of courEb, every summer London is invaded by an army of tourists, but this year-tho influx.wilUbo-moro pronounced. There will bo an ■ accumulation of, credits with tho London hanks, and tho short loan market will bo well supplied. Tho Bank of England discount rate should shortly come-down to 2J per cent., and it would occasion no surprlso if it goes down to tho trnditional minimum of 2? per'cent., if only for a week; or two. :■' BRITISH SHIPPING LINES. Some important changes havo taken place during tho past year in tho relative nositions of the great Br tish shipewning companies as regards tho number of shiDS. and tho total gross tonnage owned. Tho following figures, taken from tho "fivrcn and Shipping Illustrated," show tho first lour, companies in order of Importance:— ' Average -■ ■ -. eiio. Vessels. Tonnage Tons. Ellcrman Lines IB JgMjjj 4,070 British India '» 8 487,858 4.U4 • White Star Lino, ™;v ».-; -. «MH 15,356 IP. and 0. ConuJany * 65'" «6,167 7,225

A vcar aga- the Whilo Star I-Ino oc:ubled the premier position, with tho British Kaa toconil. but the Kllernnn Unce. which held third place, have now beaten both nnd havo gone to. thy head of tho list both for number nf vessels owned and for total toniiaßP. The P. and O. Company remain in tho fourth position as regirds tonnago, while tho White Star, with Its lovtathins, retains first placo-fpr average ..ira of vessels, tho Cunard Line, which is tenth on the list for total tonnage, being tccond in this direction with an average blio of 12.H12 tons. Customs revenue collected at the nort of Wellington yesterday amounted to £4769 12s. lid. , : ■ :. TRADE IN ALLEN STREET. ■ ' Vegetables.-At auction yesterday up to Sβ. per half case was obtained for fronen heaSs. and owing' to cabbages being in ight eupply up to .7*. I> w '?, c _ k _,* a S.J£S iscd. Green peas aro exceed nglj■ ««ee. and pricw rango from 9s. to "»•/"M': case, l'arsnlps, cauliflowers, and carrots are in good demand, and consignments aro rccointncndod. ■;: , > ■ . , • ... Fruit.-Tho first shipment pf new season's Island, oranges came to hand on Friday last, 4nd opened up in sound condltions pr ces ranged from Bs. to vs. per ciso. Pears are coming In frcsly from the Canterbury and Motuekn districts, and tho market is fully supplied. P^'VlaM* , and nectarines aro selling freely and satisactory rates arc being obtained. A good demand exists for choice coloured dessert apples, cooking apples range from Jβ. to <s.T6d. per case. Tho first of tho AustraTam'sind Bacon P -A d 6 °atisfaetory trade Is passing in these lines, with prices unchaneCd Checso Is meeting with tho usual steady • d mTttor.-Prime milled Is in good ' re"Ss^SeedShe, rccept bush fires have had tho .effect of increasing tho demand for cocksfoot, ryegrass and clovers. , Chaff ie without change, and tho marKot S 6nions.-Somo excellent table'and picltlIng onions aro coining in from Canter-PoYatoes.-Both Oamaru and CanterburyBrown are finding their way here, and competing with local grown. Prices rango rom V to 6s. per cwt. according to qual-"pollnrd.-SMpments continue to arrive from Australia, and tho demand is fair, "tour has declined 10s. sinco last week, and is now quoted at £8 per ton, f.o.b. * P Malie.-Tho shipments .which were reccivcd from tho Poverty Bay district recently opened up In excellent condition. Fowls' wheat is offering moro freely, but there is no alteration in tho Price. Oats.-Tho usnal demand exists and the market is steady. , •'."• .THE METAL MAEKET3. By Tclecraph-Prefs ABSodatlon-CopyrltM (Itcc. February 21, 11.5 p.m.) London, February 21. Coppur.-On spot, £55- 2s. ed.s three months.'£ss 16s. 3d.; electrolytic, £57 10s. Tin-On spot, £194; three months, £188 10s. '.-■ . ' Lead.-£l3. ■■"-. '-'■ ' .■■... . ■'• . . SILVER. By Telccraph-Press Assoclation-Copyrtßht , London, February 20. Bar silver is quoted at 24 !-l£d. per punc;. ■ ■'..' . . .BEET SUGAB. ■ •>.- EUROPEAN'PRODUCTION.' .. : v •■ 'vmvrteM. ' .•', '.London, February 20. . nerr F. O. Licht, of Jlasdeburg, • in his monthly circular, states that tho proftuc tlon of beet sugar in Europe during the first five months of tho 1910-11 campaign, which began on September 1, shows an inUrease of 792,000 tone as compared with tho previous campaign. Ho adheres to his estimate.that, the total amount. produced • during the current* campaign wil be about 8,147,000 tons, or an incrcaso ol 1,989.000. . , .' '. FROZEN MEAT rMABKET.-; ' : . . (By Tclcirrarh-Pr'css Association.! ■■: ■ ' Chrlstchurch, February 21. The' British and New Zealand Meat Company has received tho following .liondon cable i-MuttnnrPritno Canterbury. JJd. u> <2d.: North Island, 3»d. to <d.j Canterbury, lamb.. 5Jd. to 5Jd.: North Island. s{d. to s!d. Beef: nirids. 3!d.; fores. 3d. The mutton and lamb markctUs wcakex*bcoi prospects - aro good. . ' . .GEAIN AND PRODUOE. (By Telegraph-Press Association.) - Chrlstchuroh, Fobruary 21. The wheat market'is now_ down to,,a lovcl of 3s. at country etations. At this price some Ealcs are taking place, though fHrmcrs who wore unable or unwilling to accept-tho higher rate lately ruling are riot very keen to do business. At tho same timo morchants who are now looking to an export trade aro finding that, wheat.costing 3a. at a country station cannot shipped at a profit on tho rates at present ruling in London. Tho best offer from there for New Zealand wheat is 325. 6d;, to that.an:s*PQtt trade, cannot yet bo established. . ' . Tho prico-of- flour, in.sacks was.reauced last week by. tho Flourraillers' Association from £9 to £8 10s. per tor.. A few odd lots' of oats como to hand, but tho offerings havo ■ been so'few that merchants havo beeri'unablo to lay in any stock?. Tho market is firmer, and r there havo boon sales of the best Algerians and Gartons at 2s. at country ftatione. , Tho barley, market is without change, and tho same may bo eaid of oatsheaf Pea's are inclined to be easier, and* 3s. 9d; is tho top price now being generally of'A. little business has been dono in'TJp-to-Dato potatoes ;for forward delivery at £3 ss. at country stations.

as uuucr:— Buyers. Sellers • •* £ s. d. £s.d. iBank of New Zealand... 1019 0 - National B-ink :.............. - ■ 6 2 0 Wellington Investment ... 0 11 0 .- • 0 11 6 Wellington Denoslt 0 7 6 . ;3 Chri«tchuroh Gas •;.< •— • ' « ; Veildine Gas 116 12 0 Palracrston Gas - ,3 9 9 Well. Gas (£10) ..: - ' '• N.Z. Insurance - . .450 Gear'Meat (£1) I 3 "> , -; , Meat Export (£51 ;.... - 6 7 6 Meat Export (£4) - §50 Well. Woollen ford.) ... „ - , .4 0 0 . Well. Woollen (pref.) 2 15 - Tauplri .Coal 1 1 « ~ „ Westport Coal - 1 _> » ilanning and Co .*...-4 10 0 - Miramar. Ltd. '•"•'.■no nt t Taranalii Petroleum J 13 9 0 15 6 TarinBamntu Totara 2 6 6 .