COMMERCIAL ITEMS.

Dominion, Volume 4, Issue 1140, 30 May 1911, Page 8

COMMERCIAL ITEMS.

INVESTMENT SHARES. There were no transactions in investment shares, which is the usual characteristic feature, of Monday Tho buying and selling quotations were as uuder:— Buyers. Sellers. £ s d. £ s. d. National Banl; 5 18 6 — Hank New Zealand 11 14 0 - Well. Trust and Loan .... — ' 7 16 6 Wellington Deposit' 0 8 3 Christehurch Meat — 16 2 6 Gear Meat (£4) - 14 0 0 Meat Export (£5) 6 4 0 )- Meat Export (525. 6d.) — 3 6 0 N.Z. Shipping - 11 17 0 Union Steam — 2 10 Well. Woollen (pref.) 3 0 0 - Taupiri Coal :....; 110 — Leyland-O'Brien 17 0 - Miramar. Ltd — 0 2 6 Sharland's Pref 14 0 - Taranaki Petroleum — 0 18 0 Taringamutu Totara ... 2 9 0 2 10 U LONDON WOOL SALES. Tho London wool sales have closed rather disappointingly, in view of the gain of 5 per cent, at tho opening of the r-ales. Buyers appear to have miscalculated the position at the opening, otherwise there would have be-en no advance. The market had to rely almost entirely on ihe support of Yorkshire, and although this was freely given it was not iuifiicient to maintain the initial advance. The heavy withdrawal of 38.CC0 bales, of which 21.0C0 bales were from New Zealand, indicates that tho owners anticip.-.tc that values may improve later in the year, and this is not uniir.elv, but it will not be until about September. During the next two months the European and Korth American clips will be en the market, and users will have all that they wuu:, LONDON MONEY MARKET. Gold is accumulating in tho Bank of England, and, in the past two week;;, the gold in the Issue Department has increased by £1,273,000, and further expansion seems likely, as the exchanges are in favour of London. Tho short loans market, however, appears to be short of funds, for the rate has advanced ?, per cent., and tho rate for three months' biils is also higher. 6s. per cent. The monetary conditions are likely to be easy right up to about the middle of August, when there should lie a pronounced demand from America. Last week the quotations for Consols and colonial Government securities were unchanged, which fact is somovhat remarkable. BUTTER AND CHEESE. The London butter market is exceedingly quiet, and most of the colonial shipment's now reaching the market are goine into cold stores. English supplies are said to be filling the country markets, which means, of course, that the British output is large. It is probable also that the Continental out-turn will be greater thin usual, and, consequently, a new condition of affairs arises which those intercstesl in the dairy industry in New Zealand should endeavour to appreciate. Storing butter in the Dominion for shipment, later to London will not be a- profitable thing, and it would be better to force supplies into consumption. This, of course, cannot be done by raising values. The imports of butter into the United Kingdom during the first three months of this year compared with the figures for the corresponding period of last year showas under;— 19i0. 1911. Cwt. Cwt. Russia 38.25S 64.025 Sweden 81.615 93,460 Denmark ■ 406,118 W. 779 Netherlands 22.279 17.221 France 55,640 35.001 United States 15 5.873 Argentina 24,724 6,847 Victoria -133.U4 194.349 New South Wales 80,605 123,010 Queensland 36.530 72.C19 New Zealand 173.8 M 176.621 Panada 3.051 55 Olher countries 29.620 22,232 Total 1,09J,744 1,261,495 The net increase is 170.751e\v1.. or equal to an average of 2846 tons per month. A NEW YARN. Some time ago a qunntity of "Silvalin" viirn—ii. product which is made up direct 'from ccHuloso pulp, wood, bamboo, cotton, linen, jute waste, or indeed from any vegetable tibrc—wnts imported from Germany by Manclie:tcr manufacturers, who

wished to investi.ff.ile the question of the possibility of producing the textile locally. As an outcome of their inquiries, a factory, with ,ui estimated annual capacity of SOW) lons of the new.yarn, is to be built in Trall'ord Park, where railway connection with the Manchester docks will be secured. The yarn has been made up into a variety of fabrics by Lancashire and l'orkshiro manufacturers, and tho articles produced have formed on impressive exhibition of the place that may be taken in the textile industry by ".silvnlin," the sampler: including mattings, stair carpets, wall coverings, baggings, druggets, cords and bra:-'!, into the preparation of which nothing but the yarn was introduced. Fabric;-, containing from 60 lo 75 per rent., the balance being cotton, comprised tapestries, reps, cretonnes, moirettes, shirtings, bed ticks, towelling, table cloths, duck, finite inns, boltings, embroideries and trimmings, whilst a reduction of Silvalin and an increased quantity of cotton or .into gave coarr-er materials. At the same time mixed fabrics of the yarn and wool or llax have been turned out. A notable characteristic of the goods produced is tho brightness of tho dyed specimens, which appear no Joss brilliant than fabrics of ordinary manufacture. As to the wearing quality of the material, tests whioh were conducted at tho laboratory of the Manchester School of Technology gave highly satisfactory rc.-ults. The lime occupied in wearing through a cloth composed of cotten, warp and weft, was three minutes, whereas the average time taken in the case of Silvalin weft and cotton warp was twelve minutes. Enjially good results have been obtained in Germany, whore the process, which is known as the Kron patent, has already been largely used. NOTES. The census shows that there lias been a substantial rise in the population of Paris, which is now 2,846,985, as compared with 2,722,731 in 19C6, being an increase of 124,255. Thero were 3441 persons naturalised in France last year, being an increase of 634 as compared with 1909. The most numerous of these were Italians 775, Belgians being next with 642. Germans stand sixth, with 88, and British eleventh on the list, with only 19. The production of copper in Russia in 1910 amounted to 1,383,456 poods, as compared with ),128,959 poods in the previous year. Since 1907, when the output reached 900,935 poods, the average annual increase has been 13 per cent. 'The district of the Ural continues to .hold the leading position from the amount of copper produced, the Caucasus ranking second, and Siberia third. At the camo time it is necessary to mention that the augmentation since 1907 has been 2C6 per cent, in Siberia, 51 per cent, in the Caucasus, and 43 per cent, in the Ural. The considerable increase in the case of Siberia is attributed to the new works of the Spassky and two other companies and to the modern equipment of these works. Banks in France fared exceedingly well last year, mainly from their operations in connection with foreign loan issues. The Credit Lyonnais, for example, made net profits of £1,528,500, but the dividend distributed was not increased, the directorate preferring to place £430,000 to the reserve fund. The only French bank directly represented ir. Australia is the Comptolr National d'Kscompte de Paris, which has a branch in Melbourne, but confines its transactions to exchange business. Its annual report, just to hand, shows that tho operations of the bank cover a wide Held, and its net profits have increaccd during .1910 by £60,300, to £631,300 approximately, of which 5 per cent, goes to the statutory reserve. The dividend has been raised from 32.50 to 35f. per. share, and represents 7 par cent, per annum, which compares with a distribution at the rate of 6J- per cent, for 1909. The total of the balance-sheet i.s £C5.380,C00, as against £61,650.000 in the immediately preceding statement of accounts. Customs duty collected at the port of AVellington yesterday amounted to £3579 16s. 2d. FROZEN MEAT. lis Telegraph—Press Association-Copyright. London, May 28. The Frozen Meat Trade Association's £mithflc!d market ouotations for the undermentioned classes of frozen meat aro based on actual sales of not less than one hundred carcasses of mutton or lamb, or two.nty.fivo quarters of beet of fair average quality. Tho quotations are not for selected linos, but for parcels fairly representative of the bulk of the shipments now on tho market. Tho prices which follow are on an average a farthing per lb. more than the value ex ship, this difference representing an average cost in expenses, handling, conveyance, and selling tho meat:— May 20. May 27.

Rabbits—The prices are unchanged. LONDON MARKETS. By Tclcgro pla—Press Association-Oopyrisil London, May 28. Copra,—There are- small sales. South Soa, in baps, £22 17s. 6d. per ton. liubber.—Fine hard Para rubber is quoted at 4s. 4d. per lb. METAL MARKETS. By Telegraph—Press Assoriatkra-Copyriehc London, May 28. Copper—On the spot, £51 155.; three months', £55 7s. 6d. Tin.-On the spot, £201 10s.; three months, .£lB6 15s. Lead.-£l3 per ton. niGII COMMISSIONER'S CABLEGRAM. • The Commerce and Tourist? Division of the Department of Agriculture, Commerce and Tourists lias received the following cablegram irora the High Commissioner for New Zealand, dated London, May 'ill. (Quotations unless otherwise specified, are average market prices on fuotkMut.ton. There has been a better tone in the market this week. Market lirm, notwithstanding large receipts. Holders arc firm. Canterbury are getting very scarce —3 13-16 d. per lb.. North Island 3Jd. per lb. Lamb—The market is firm, with a hardening tendency. Largo shipments arriving, but there is a general and active demand. Canterbury. J»d., other than Canterbury HA. per lb., Australian <id. per ib. (very limited supply). BccF.-Tho market is quiet, with a. tendency in favour of buyers, at about quotations already given. New Zealand fores 2td., New Zealand hinds 33d. per lb. South American chilled is in large supply and selling at about, the same price. Butlcr.-Tlie market is quiet, with small business doing. Ruahino shipment of butter arrived in good condition. Choicest New Zealand 1055., Danish 108s., Siberian 955., Australian 98s. per cwt. Cueeso.-Tke market continues dull, and linn been unfavourably affected by Canadian arrivals. Buyers are more reserved weak holders giving way. Xcw Zeabnd 535. per cwt. Ruahine shipment of chce'e. arrived in good condition. Kemp.-The market is quiet, but steady. New Zealand, good fair, spot, per ton, £20 10s.: fair grade, £19 10s. For Manila the market :s firmer, mid has been favourably affected by improved American demand and advanced sisal prices. Fair current Manila, Spot, per ton, £19 10s.; forward shipment. £20 ss. The output from Maui a for the week was 20,000 bah" -"""a , Cocksfoot Seed.-The market is verv quiet-nothing doing. Sowirnr tramn i, .,i ended. Nominally, bright cIeVS t? &«?.! pe^wr' Shi "S »">■ per LONDON V.'OOL SALES London office regarding the 'vs follows:-Tlie closing rates wore ratlin? firmer than those ruling at the fi-i M\ Vr the March series. Merino wool- G„,,r par to 5 per cent, lower; good io Him qinf it.v. r poured are unchanged: medium ail inferior qualities scoured, 5 per c ? lower; short woo, faultv,fn„ , S CC "'- cent to 10 per cent, 'lowerT&, 5 .b?S wools: Greasy, Hue quality, 5 per ce„ ' ower; medium quality, par to 5 ,",• ec ' lower; coarse, par to 5 nor or-nf 1 i„i scoured. 5 per cent, lowtr D 'tVi ,r' er; The total net quantity avaiHhl- V™ UI V"J to 2M.C00 bales. Of Shi, JOT H,™ 01 Trl i-plrt to America, 95X00 bales vere ,old for Home consumption. 70.000 hale* ,™„ 'fl to Continent, and 39X00 bales worn ~ ?' fnpwnrd-a tolal of ZC6.CCO bSfe- zl'nm bales were not offered in the sale.

HIDE A.VD SKIX TiEPOKT. Mc,-sr.;. Da'gety ami Co. (Palmorston branch! report:—At our monthly sale last week we olferod :i In rue catalogue to a full attendance of bnycii-. Competition was keen for all lots, and v.c cleared ths whole of our catalogue at the following satisractory prices.:- Wool: Crossbred, 7d., 7{d., 7>d., to Od.; lambs 63d., 7d., to 71(1.; pieces, 4.U1., <Jd„ to 6d.; dead wool, to 7d.; black wool, to 6-1.; locks. HA., Id., to 41(1. Sheenslifos: Crossbred full-wool, from 6d. lo 71(1.; half to tlirce-qu.irtcr wool, to 6Jd.: half-wool?, from Sid. to 6Jd.; shorts lo quarter-wool. 5(1. to 5;d.; pel'.,?, 33d. to <!d.; wr.olly lambs, to 71(1.; shorn lambs, 5Jd. to 6(1.; dead, from 4d. to 5Jd-: crossbred, damaged, 4!d. to 5.U1.: inferior and dameged pelts, ltd. lo 3}d.: lamb pelts, 33d.; butchers' green mid salted skins, at per piece, heavy, from 4s. Sd. to 6s. 2d.; medium. 3s. 9d., 3s. lid., to 45.; light, 3s. 6d. to 3s. Bd.: lambs. 2s. 3d. to is. Bd.: pelts, from lr„ Is. 5d., to Is. 8(1. Hides: Ox, medium, 6!d.: light, Gd. to 63d.; cows, bet linos. 63d.: good, from S.'.d. to 6d.; rough, 51d. to 5?, d.: bulls. 43d. to 5!d.; yearlings, 6(1. to 7d.: hor-e hides, from 4«. to 7s. £d. each; cons, slippy, 3d.; cut, 4£d.; ditto, yearlings, 4d. to sd. Calfskins: Best lots, 9d.; good, from 73(1. to Bid.; cut and slippy, 4d. to 6Jd.; dry, Is. each. Tallow: In tins, 2)3. 6d. per cwt.; in barrels, from 245. 3d. to 245. 6d. Horsehair, !•?. 7d. per lb.

FEILDING MARKET REPOBT. Messrs. A. H. Atkinson and Co., Ltd., of Foilding, fold on Friday over 200 head of poultry, including a number of purebred utility birds. Table birds made full values. There was a medium entry of pigs, including s OIU o light and mediunj-woight porkers. The demand was not keen for stores or unfinished lines. A lot of general produce was marketed, and potatoes were in full supply. Grain values have not varied. Quotations:—AVoanors and slips, ls„ 2s. 9d., 35., 4s. 3d., 4s. 6d.; stores and porkers, 133.. 165., 175.. 17s. 6d., 20s. 6d., 215.; sow, 225.; phaeton, £7; aged horses, to 18s. Poultry (at per pair): Hens, 2s. 6d<, 3s. 6(1., 3s. 9d., 45.; cockerels and roosters, 2s. 3d., 2s. 9d., 3s„ 3s. 9d.; ducks, 3s. 6d., 45., 55.;' purebred Aylesbury, 75.; geese, 35., 3s. 6d.; turkeys (each), 55., ss. 9d., 65.; purebred white Leghorn cockerels (each), 's.; li.L. liens, 45.; pullets, 4s. 9d.; pens of 4 B.L. hens. 135., 13s. 6d., 195., 235.; 6 pullets, 275. Produce: Potatoes, 7s. 6d. to 10s. per sack; onions, 6s. to 7s. per cwt.; o.nples, 3s. to 3s. 6d. per half-case; pears, •4s. 6d.

Mutton— d. d. Canterbury, light 33 . 313-16 Canterbury, medium 33 313-16 Canterbury,;, heavy ., 33 3J Southland '-.V: — — Nort-h Island, best 31-16 35 North Island, ordinary ... 215-16 31 Australian, light 27, 3^ Australian,', heavy , .23 . 3 River '-Plato, light ..■■'.-■ 34 3i River Plata, heavy 23 3 ■ New Zealand ewes "3 3 Australian ewes ..' 23 3 .River Plate cives 23 22 Lamb:— Canterbury, light <3 43 . Canterbury, medium 4,s 43 Canterbury, heavy 4J t\ Southland 4 516 4J North Island, selected ... 4 5-16 4i North Island, ordinary .. 4 3-16 4J Australian, best 33 4 Australian, fair 35 33 ■ Australian, inferior 33 3J River Plate, first 37, th River Plate, second 33 33 Beef:New Zealand, ox fores .. 23 28 New Zealand, ox hinds ... 3J 33 Australian, ox fores 21 2J Australian, ox hinds 3* 3t River Plato, ox fores 25 .23 River Plate, ox hinds 33 33 River Plato, chilled fores 25 21 River Plate, chilled hinds 35 33