COMMERCIAL ITEMS.

Dominion, Volume 4, Issue 1135, 24 May 1911, Page 10

COMMERCIAL ITEMS.

INVESTMENT SHAKES. 'A sa lc of National Mortgage shares at 68s-6d. was the only transaction recorded m investment shares yesterday. Taranaki Petroleum shares had another advance yesterday, buyers offering 18s. 3d. The buying and .selling Quotations were as under— Buyers. Sellers. £s. d. , £s. d. National Mortgage • 3 8 6 — Well. Trust and Loan ... ' —' 716 6 Well. Deposit '. 0 8 3 0 8 9 Napier Gas (£10) ; — 25 0 0 Meat Export. (£5) 6 5 0 — Meat Export (£4) — 5 7 0 Meat Export (525. 6d.) ... — 3 6 0 Well. Steam Ferry (185.).... 0 12 0 Well. Woollen (ord.) — 4 2 0 WestportrStockton — 0 4 0 Leyland-O'llrien ....'........ 1 7'<o — ' Manning and Co. ............ 4 8 0 Miramar, Ltd — 0 2 6 N.Z. Drug 2 9 0 - N.Z. Paper Mills - 13 0 Taranaki Petroleum 0 18 3 0 19 6 Ward and Co 5 0 0 — CAPITAL APPLICATIONS. Tho demands for fresh capital on the London market are still very heavyrthough not as pronounced as they were last year. During the first quarter of this year tho total amounted to £61,320,000, as compared with £99,355,600 in the corresponding period "of 1910. The British Government borrowings in the latter period included £21,CC0,.000, to reduce the balance of the war loan of 1900, which served to swell the figures on that occasion. State and municipal loans in the first quarter of this year amount to only £12,700,000, against £52,.400,000 in the corresponding period of last year, so that the sum borrowed to finance, commerce, and industry was over £48,000,.000. as against £47,000.000 in 1910. This is attributed to the great activity of'trade and manufacturers, coupled with: the fact that the revenues of borrowing nations, notably Russia, had been expanded by good harvests to an extent that.reduced .the. necessity for new loans. The industrial applications were widely spread, the .most notable figures being those relating to foreign railways. For the £22,500,CC0 absorbed in this form, the United States, Japan, Brazil, and Argentina were responsible. Tho first-named will undoubtedly continue to require immense sums for years'to' come to improve and extend - her railways, many of which possess only a single. track. Rubber, ventures applied for £1,066,600, as against JE6.087.7C0 in the 'March quarter last year. It is probable that the profits on tho latter will hardly amount to six times the return on the capital issued under normal conditions of the rubber producing industry. The current quarter will doubtless soe an increase in tho applications by borrowers, as the money market is decidedly easier since the .Government 1 financial years has terrain-' ated and revenue collections havo been released.

Customs duty collected at the port-of Wellington yesterday amounted to £3367 7s. 9d.

TRADE IN ALLEN STREET. ~ Fruit.-The Navna from Fiji with the usual monthly shipment of bananas is due here on Saturday, two days later than usual, the delay being due to new regulations in Fiji prohibiting vessels working after six o'clock. The Manuka is due here to-morrow from the Cook Islands with supplies of Island oranges,, bananas,. and kurneras, and these should reach a fairly good market. The Warrimoo, due from Sydney to-morrow, is bringing. the usual weekly shipment of passion fruit, lemons, and pineapples. Choice dessert apples have been in light supply, and for choice coloured from Us. to 13s. has been obtained; cooking apples range from ss. to 75., according to quality. Owing to heavy shipments of pears from Hobart, the market has cased considerably, half casts realising ss. to 6s. Choice samples of Australian lemons realise from 10s. to lis., and the market shows a weakening tendency. '

. . Vegetables—Marrows are dull of salo at 2s. to 2s. 6d. per sack, pumpkins make from 4s. to ,65.; carrots and parsnips range from 3s. to 4s. 6d., whilst French beaii3 are in strong demand, at Bs. per half sack. The quotations for cabbages vary from 4s. to 7s. per sack. Swedes are ruling at 2s. to 2s. 6d. per cwt. Oats continue to steadily advance. The price, f.o.b. south, is now 2s. 6d. ' per bushel for A grade Cartons. iChaff—Shipments'of Victorian-grown arc arriving weekly, and the market is being also well supplied by the Wairarapa and Marlborough districts.

Maize is in good demand, buff there is no change in the quotation.

Fowls'.wheat finds ready sale, at 3s. lid. to 4s. for prime whole grain. Flour is offering (ft £8 10s. per ton f.o.b. south.

Bran is quoted at £4 10s., and pollard at £6 f.o.b. south.

. Potatoes.—The demand is principally for prime quality, anything not answering this description has to be sold at the best price offering.

■ Onions—Supplies are coming from Christohurch and Victoria, buyers preferring the latter.

Butter is in excellent demand, prime milled realising lOd. to IOJd. Eggs.—Fresh eggs meet with good inquiry at Is. lOd. per dozen, whilst preserved arc neglected at Is. 2d. to Is. 3d.

Eicc Flour—A fair demand exists at £6 per ton, sacks in. ' Oatmeal advanced £1 per ton during the week, and is now quoted at £13 10s. f.o.b. south.

Bacon and hams havo fair inquiry-, sides arc quoted at 73d., and rolls and hams at BJ3.

Poultry.—Hens. 3s. to 3s. 6d.-,-cockerels, 2s. 6d. to 45.; ducks, ss. to 65.; geese. ss. to 6s. per pair; turkey gobblers, Bd. to 9d. per lb. live, weight; hens, 6d. to 7d. All classes of poultry are in good demand.

FROZEN MEAT. (By Telegraph-Press Association.)

Chrlstchurclr, May 22 • The British-New Zealand Meat Co. has received the following cablegram from London;—Mutton—Prime Canterbury, 3M. to 33d.; North Island, 2Jd. to 3d. LambPrime Canterbury, 4Jd. to 43d.; North Inland, 4d. to 4id. Beef-Hinds, 33d., fores, 2ijd.

BEET SUGAR PRODUCTION. By Telegraph—Press Association-Copyright London, May 22. Herr F. O. Licht, of Magdeburg, in his monthly circular, states that the production of beet sugar in Europe during tho first six months of the 1910-11 campaign, which began on September 1. shows an increase of 796.C00 tons as compared with the previous campaign. He estimates that the total amount produced during the current campaign will be about 8,147,000 tons or an increase of 1,989,000.

GRAIN AND PRODUCE. (By Telegraph.-Pross Association.!

Chrlstchurch, May 23. The weaker tone in the London and Australian wheat markets has been reflected locally, and buyers are not very keen to do business, except at reduced rates. There is less business passing between merchants than last week, and few farmers arc disposed to sell at 3s. 3d., which is now the hest offer on trucks. The only lino of consequence changing hands during the last day or two was 1000 bushels of Bordicr, at 3s. 2Jd. at a, country station, the duality being barely prime. There is no change to note in oats, and chaff keeps ft mi, at 85s. on trucks.

.The potato market is still quiet, but thero arc a few buyers at 655. Offerings are however, not very free, as the pitting of the crop is now well forward.