COMMERCIAL ITEMS.

Dominion, Volume 4, Issue 1146, 6 June 1911, Page 8

COMMERCIAL ITEMS.

INVESTMENT SHARES. No transactions were recorded in investment shares yesterday, the buyinc and Ecllins quotations being as under:— Buyers. Sellers fsd £ s. d National Bank 5 19 6 6 10 Well. Trust and Loan 7 13 0 — Wellington Deposit 0 8 3 — Auckland Gas (£1) 3 9 0 — Auckland Gas (new) 3 13 0 — Christchurch Gas 9 15 0 — Palmei'stou Gas — 9 0 0 Wellington Gas (new) — 3 0 0 South British Insurance 3 8 9 —I Gear Meat (£4) - 13 12 6 Meat Export (525. 6d.) ... — 3 6 0 N.Z. Shipping - 11 1G 0 Well. Woollen (pref.) 3 0 0 ■ — Westport Ccal 19 0 — D.I.C. preference 13 0 — I.eyland-O'liricn. 17 0 — JUrnmar, Ltd — 0 J 6 Sharlaud's preference ... 1 4 0 — Turanaki Potrolcum 0 16 6 0 10 o Taringamutu Totaia ... — 2 10 0 Ward and Co 5 16 - PEODUCE MARKETS. The London wheat markot is again weak owing to excessive shipments, and the generally favourable crop outlook in Europe. The new European crop will be parncreil dm-ing the nest six or seven weeks, and, i[ a bumper crop should result, values must go lower, unless the other sources of supply, such as Canada, Argentina, and India, experience a shortage. Tho climatic conditions everywhere, however, are (as far as can bo ascertained) good, and the world's wheat supply in the coming season promises to be more than sufficient to meet demands. This will bo an excellent thing, for it will enable reserve stocks to be built up. Values, howson ' for wheat, it will necessarily be a good r-cason for the production of butter and cheese, and of beef and mutton and | other products, both agricultural and pastoral, and there is some chance, therelore, that European food supplies from European sources will increase. The butter market is flat, owinc to the plentiful supply of English and Continental make?, while cheese has dropped from 61s. and 625. to 555. and 575. At the moment, the state ot the dairy produce market is a matter of indifference to tho New Zealand dairymen, but there i=, nevertheless, a certain amount of risk in tho situation. If tho European make of butter is large, and the season is prolonged, a Ereat deal of butter will go into cold store, ami come into competition with tho new make of New Zealand butter. Further. Australia is reported to have had no winter break, and the Commonwealth competition cannot be overlooked. All things, considered, it would bo unwise to ship New Zealand stored butter to natch the market in September. It would be better to sell old

butler for local consumption, but If. 2(1. an:! If. 3d. »er lb. is not the way to help consumption. BUSINESS ASSUEAKCE. Business assurance is not. known in Xctf Zealand, but it is a form of insurance, that possesses advantages. In tho United States, where it flourishes as a, rcEiilar thing, it is said that its adoption by borrowers injluenccs banks in their extension of credit, in prosperous times, and in the continuance of loans in times of financial stringency. It. is essential iu new ventures where the success of the business is largely dependent on the lire of one or two men. Its specified and inereasinc cash value makes it a quickly available asset to be carried on the books as such. If the insured members are endorsers of tho nates of the corporation or partnership it provides a. means of rovc-ilinc their estates of liability. Its valuo as,collateral is tabulated for each year, and the insurance company triiarantces to loan its full cash valuo at the low rate of 0 per cent, interest. Many firms were saved in tho name of 19C7 by their ability to secure loans on business insurance policies when all other sources had failed. It furnishes a. sinking fund for the replacement of plant or machinery and for . ecncral emcrtrencies. It guarantees the funds necessary to meet the development of the business on a specified date in the future, and takes the place of new capital, thereby ficuring as an increased asset instead ol an increased liability. Tho growing value to largo corporations in tho United . States of business insurance is demonstrated by the growing number who carry it in adequate amounts on the lives of their officers, manager?, or experts. In partnerships it protects tho interest of the family of a deceased, member, and, at the same time, allows the survivor to buy out his partner's interest in the business if tho partner's administrator decider to sell. . . Business insurance can be obtained in one of two forms. First, by individual policies on the owners of the business, or on each member of the corporation or firm, or each important employer. Second, by a joint life policy on two or three lives, providing for payment of the cnliro Dolicy at the death of any one of the insured. The trade of India, last year was altogether unprecedented. Excluding Government business, the imports reached £1C5,4C0,4C5, or £13,104,041 more than in 19C9, while the exports were £144.642.572, an increase of no less than £25,579,2E3. The advance in cotton and the good season told greatly upon the returns.' The imports of gold were £18,026,984, and the exports £2.605.821. The imports of silver were £7,332,283, and exports £2,223,985. The .Russian State Budget for 1911 estimates the revenue? from tho petroleum deposits at 52.3C0.0C0 roubles, of which 10.3C0.CC0 roubles are from companies holding concessions on State land, and 42.000,000 roubles from tho tax on petroleum. Of these revenues, the Baku district contributes 90 per cent., and the remaining; 10 per cent, are paid by the districts of Grosny, TJchta, Maikop Sakhalin, and Turkestan. Customs duties collected at the port of Wellington yesterday amounted to £1761 19s. Id. HIGH COMMISSIONER'S CABLE. Tho Commerce and Tourists Division of the Department of Agriculture and Tourists has received the following cablegram from the Hirjh Commissioner for New Zealand, dated London, June 3. (Note — ■ Quotations, unless otherwise specified, are average market prices on spot):— Mutton.—The market remains firm. High prices arc restricting business in tho market. A moderate demand. Nominally Canterbury, 33d.; North Island, 3Jd. per 11). Lamb.—The market is firm, and .there is a good demand for all qualities, especially for light weights. Tendency upwards for forward deliveries. Canterbury, 43d.; other than Canterbury, 4£d. per lb. Beef.—The market is very quiet, and there is nothing doing. The low price of chilled keeps the market dull. New Zenlaud hinds, lid.; New Zealand fores, 2Jd. per !b. Pork.—There is little demand. The average price is 4{d. per lb. Butter.—Tho market is dull. There is a fair demand for better grades. Stock is small. Choicest New Zealand butter. 1045.; Australian, 985.; Danish, 108s.; Siberian, 965. p;r cwt. Cheese.—The market is quiet but rather steadier. Hew Zealand white, 565. per cwt.; coloured, 57s per cwt. Hemp.—The market is quiet and small business is doing. Prices aro firmer. New Zealand good fair on spot per ton. £20 l£s.; fair grade, £19 155.; fair current Manila, £20. Forward shipment—New Zealand good fair, £21; fair grade, £20; Manila, £21. Tho output from Manila for tho week was 23,000 bales. Stock of New Zealand hemp, 715 tons. Cocksfoot Seed.—There has been no alteration in the market since last week. Vool.-The market is unchanged. Quotations for Bradford tops as follow.— 36's low crossbreds, Is. lid.; 4Cs low crossbreds, Is. 2Jd.; <4's medium crossbreds. Is. 3d.; 50's halfbreds, Is. 65d.; 56's nuarterbreds. Is. 9Jd.; 60's merinos, 2s. 2id. Mutton and Lamb.—River Plate shipments during May, 1911, are as.follow:— Mutton. Lamb. London 31,166 30,486 Liverpool 178,417 120,570 ' Hull 11,905 1,757 Newcastle 17,684' 878 Southampton 7,625 5.4C2 Cardiff 10.CC0 SCO Ireland 4,223 15 261,020 159.6C8 May, 1910 378,976 82,712 LONDON MAKKETS. By Telesraph—i'ress Association—Copyright London, June 4. Cotton—Tho Liverpool quotation for middling American upland cotton is 7.96 d. per !b., as against B.old. last week. Hemp.—Tho market is quiet. June-Aug-ust shipments are quoted at £21 15s. per ton. Rubber.—Fine hard Para rubber is quoted at 4s. o>d. per lb., as against 4s. 4d. last wock. Kauri Gum.—ln stock, 289 cases. Copra.—South Sea. in bags (nearly due), £23 10s. per ton. Hides are in small supply, and are quoted at nominal prices. Basils—The market is quiet. First Wellingtons, lSd. Rabbits are dull of sale. Laree Syduey, ex store, los. per crate. The New Zealand Loan and Mercantile Agency Company, Limited, have received the following, cablegram from their London hoiiEo under date June 2:-Frozeu Meat: The market for frozen mutton is steady. There is a good demand for lamb, but tho inquiry is limited for beef. THE TIN MAItKET. SPOT TIN, £215. By Tclceraph-I'ress Assoc.iation-Copyrlch! London, June 4. Tin on spot is quoted at £215 per ton; tili-cj mouths, £191 15s. GEAR MEAT COMPANY. INTERIM DIVIDEND. The directors of the Gear Meat Preserving and Freezing Company of New Zealand held a meeting yesterday, and declared an interim dividend of 5 per cent, for the half-year ended May 51.