COMMERCIAL ITEMS.

Dominion, Volume 4, Issue 1083, 23 March 1911, Page 8

COMMERCIAL ITEMS.

INVESTMENT SHAKES. A sale of Wcfetport Coal chares at 293. 3d. was the only transaction in investment shares recorded yesterday. The buying and celling quotations were as under:— Buyers Sellers £ s. d. £ s. d National Bank 6 0 0 6 1 9 Metropolitan 12 0 0 12 10 • 0 N.Z. Loan aud Mercantile 0 9 5 0 10 6 Well. Investment 0 11 0 011 6 Ohristchurch Gas 9 15 0 — Feilding Gas 119 — Palmcrston N. Gas — 9 0 0 Well. Gas (£6 155.) 13 15 0 - N.Z. Insurance 4 5 0 — Christohurch Meat 16 0 0 16 10 0 Gear Meat (205.) 3 5 0 — Meat Export (£5) 6 7 6 — Meat Export (£4) 5 4 0 — Meat Export (525. fid.) ... 3 1 0 — Union Steam 117 9 — liaiapoi Woollen 5 4 0 Well. Woollen (ord.) — 4 4 0 Well. Woollen (pref.) ... 2 17 6 - Taupiri Coal 116 — Westport. Coal 19 0 19 6 Leylana-O'Brien ' 16 3 16 9 Manning and Co 4 11 0 — Miramar, ltd — 0 2 6 N.7j. Consolidated Dental 12 6 13 6 N.Z. Drug 2 9 0 — X.Z. Paper Mills 1 3 0 14 0 Taranalii Petroleum 0 13 6 0 14 3 Taringamutu Totara .... — 28 9 Ward and Co 4 18 0 5 0 0 INSURANCE EXTRAORDINARY. Lloyd's often covers strange risk?. An insurance of a. very unusual character has just been placed at that institution by Continental clients in respect to a powerful new French submarine valued at iSIOOiOCO. Preparations are now being made at Marseilles to transport the vessel from that port to the South Pacific, and the policies arc effected to cover Ihe ocean transit. The remarkable feature of this business is til at the submarine will be carried as cargo in the hold of a new steamer which has been specially const rnclcd for tho, purpose. As the enormous rtead-weighl. of this engine of war will prohibit the use of cranes for haulage on board tho vcsrel tho fiiHiculfy will be overcome by the submarine bcinc floated into the hold of the steamer as if the latter were a kind of floating dock. After the submarine has boen so placed the transport vessel will he practically rebuilt ami raised by the wafer being pumped otif. Although this is a. very unusual engineering feat a. similar process was adopted for the first time about tv.-o years ago, when the British steamer Transporter was specially built at Harrow to convey a couple of submarines In .Japan. That adventure was marked by conspicuous success. In the case nt the lalcst. French submarine a good deal of official reticence is evinrcd as to the actual destination of the wnrship, but there appears every indication that it is intended for service in the navy of either Chile or Peru, as the insurances provide the option of one port of destination in either

OUR TMPORTS FROM HOME. The following a. return of the principal lines o? ;;on"i!j of P.ritish manufacture exported to Xiv.v Zealand during the month of .January, 19; I. with the l:giires for January, 1910, shown for purpo.-es of comparison. Compiled from the Hoard of Trade returns Month ending January 31. 1910. 1911. X ,'J fleer and ale 2,110 2,716 Spirits 6,5:; 22,311 Iron and steel, and manufactures thereof 82,655 105,641 Copper, wrought or manufactured 2,517 1,313 Cutlery qi 1.810 Hardware 6,939 9,19) Cotton piece good:- of all kinds 69,365 77.115 Woollen and worsted manufacture* £3,23.1 04.035 Haberdashery and millinery 8.115 7,219 •lute manufactures 3,55? 5,02.3 Linen piece goods of all kinds 1f),6C0 9,131 Apparel 77,825 P 1,160 Beats and shoes 19.092 18,526 Saddlery and harness 3,259 2.552 Earthenware and glass 5.791 9,171 Writing and printing paper 8.315 7,675 Cement 1.297 Stationery other than paper 5,152 2,901 Customs duties collected at the port of Wellington yesterday amounted to £3501 12s. Id. WHEAT. By Telegraph—Press Association—Oopyricrht Sydney, March 22. There is a further improvement of a halfpenny in the price of wheat. Up to 3s. sd. a bushel is offered. (Rec. March 23, 0.5 a.m.) . London, March 22. Wheat.—An Australian cargo has been sold at 355. 6d.; ICCO tons of New South Wales, March shipment, at 535. 9d.; and 13.CC0 quarters, January-February shipment, at 31s. 3}d. . • LONDON WOOL SALES. By Telegraph—Press Association-Copyright ; London, March 21. At. the wool sales the following prices were realised:—Manuka, top price 21Jd., average 223 d.; Glendhu,' top prico 10id., iaverage 9&d. Later. ' There was keen competition at full rates ■ at the wool sales. (Rec. March 23, 0.5 a.m.) - London, March 22. At the wool sales the following prices were realised for New Zealand clips:— Hiku, top price, 13d.; Titi, 12d. ar.d 10! d.; Te Apiti, lid. and 10!. d.; W.D., lCd. and 9Jd. The Rank of New Zealand has received the following cable advice from its London office, dated March 21:—"The market is strong for coarse crossbred. Prices are unchanged. The market- is strong for medium crossbred. Prices are sto 7i per cent, higher. The market, is strong for halfbred and all kinds of lambs' wool. Prices are 7Jd. to 10 per cent, higher. Current prices for North Island farmers' lots, in average condition :-Coarse crossbred, 36-10's quality, 9d. to 91d. per lb.; medium crossbred. 11-46's quality, 93d. to IOJd- per lb.; tine crossbred, 50's quality, 12? d. to lid. per lb. Current prices for South Island farmers' lots (Canterbury style) in average condition:—lnferior merino, 60-61's quality, 9sd. to 10d. per lb.; superior merino. 6064's quality, 12£ d. to 135 d. per lb.; half or ouartorbrad merino, 55's quality, liiid. to 13? id. per lb.

The New Zealand Loan and Mercantile Agency Company, Ltd., have received the following cablegram from their London house, under date March 21:—"As compared with last wool sale's closing rates, prices are higher about 5 per cent, for scoured crossbred, coarse greasy crossbred, greasy merino, and fine greasy crossbred; about par to 5 per cent, for scoured merino, n_edium greasy crossbrcd. merino lambs, and crossbred slipe; and about 5 per cent, to 71 per cent, for greasy crossbred lambs. There is a good general demand except for America."

Messrs. Abraham and Williams, Ltd., have received the following cablegram from London, under date March 21:—"Values, is compared with tho closing rates or January sale, show an advance o! 5 ner cent, for fine crossbred and merino and 25 per cent. for coarse crossbred. Medium crossbred unchanged. The market is veryfirm."

DEBENTURES. By Telegraph—Press Association—Copyriilit London, March 21. Stock Exchange quotations include:— Australian Mortgage, £ICO 10s.; Dalgaty's, £100 10s.; Goldsbrough, Mort, and Co., £98. CANARY SEED. By Telegraph—Press Association—Copyright London, March 21. Canary seed is quoted at 675. to 80s., and hemp seed at 38s. to We. DTJNEDIN GRAIN* MARKET. ' (By Telegraph.—Press Association.) Duncdin, March 22. Oats.—There is a, considerable quantity offering, but, owing to the dilierence between owners' and shippers' ideas of value, there is not very muen business passing. Small lines, however, are readily placed for local use. Prime milling, 2s. 2d. to 2a. 2Jd.; good to best feed, 2s. lid. to 2s. 2d.; inferior to medium, Is. 11a. to 2s. Id. ■\Vhoat: During the past week considerable quantities have been offering from the country, and, owing to ;l slight hardening in the Australian market, prices have been a, little firmer. A good deal of busiucsj has been done, most inquiry being for prirao velvet. Prime milling «c!vot. 3s. 2-Sd. to 2s. 3jd.; .Tuscan, 3s. 2d. to 3s. 3d.; best and whole fowhvheat, 2s. lid. to 3s. Id. LAND SALE AT FLAXBOCRNE. Messrs. Dalgcty and Company, Limited, Blenheim, report the sale by public auction (in conjunction with Messrs. Levin aud_ Company, Limited! of 1170 acres of freehold at Flaxbourne, between Hauwai and Ward Stations, and bounded on tho south by Lake Elterwater, being the first subdivision of that portion of Flaxbourne Estato reserved by Messrs. Clifford Brothers. There was a. good attendance of buyers from all parts of the Dominion, ar.d the property was keenly competed for, and the three blocks were sold under the hammer as follow:—Block 1, 316ac. lr., at £11 per acre, to Mr. P. Corrigan, Masterton; Block 2, 375ae., at ,€ls ss. per acre, to Mr. M. J Corrigan, Canterbury; Block 3, <7;ac., at £18 per acre, to Mr. M. Casev, Grovctown. The average price realised for the whole property was a trifle over £16 per acre, and tho sale was a very satisfac'one. Arrangements are now being nia&u for tho subdivision of the balance of the estate to Capo Campbell, and an early opportunity will bo afforded to land buyers of acquiring some of this lino country, comprising about 10,CC0 acres of mixed agricultural and pastoral land, including some good limestone ridges.