COMMERCIAL.

Dominion, Volume 4, Issue 1158, 20 June 1911, Page 8

COMMERCIAL.

INVESTMENT SIIABKS. A «n'c nt WoMi'igtoiv Investment shares at Hp. 9d: was the only tronyac!ion recorded yesterday. 'l'lie buying and- ffllintr nuoUitions were as under:-—'

the tin market. The tin market, has just vitntsscd one of those big struggles that fluently take plaeo between "bulls antl bear... On this occasion the ' bulls haio <.on. Tho "bears." it may be explained, aie those who sold what they did not possess, hoping tn buy baek at a lowc-r price than that at which they sold, before vejS bound to deliver the goods. The bulls, on the- other hand, bought what they did not want, hoping that the price would advance before it was necessary to take delivery. and they could then sell and clear a profit. It in obvious that the bear, made a serious miscalculation, and Placed themselves entirely at the mercy of the "bulls." An abnormal situation thus arose. Tho "bears" were obliged to pay the price demanded, and they were permitted to cover their on-the-spot commitments at ±.«U per ton. At this pricc, the losses of some of the "bears" would amount to about £40 per ton, and it Till be surprising if presently 1 we do not hear of. some_ important failures of operators on the tin market. The spot price of the metal is now £199 per ton, and it is bound, to. go lower.

BUSINESS ASSURANCE. ■ Business asurance is little known in New Zealand.' but, in fhfe United States, it Is thoroughly appreciated. It is not a new form of assurance; it is merely assurance applied in an unfamiliar way. It has been defined as life insurance applied to the needs of a corporation or partnership. Every manufacturer or merchant carries fire insurance on his plant* or goods. Safety compels, h>s credit -depends upon it. Goods and buildings are results, not causes. They proceed from, and their value defends . upon, the organising efficiency of managers of their resourcefulness and farsightedness. Because of these qualities new ventures succeed, for lack of tliem old and established concerns d sappear—.for corporations, like individuals, grow infirm. Firo insurance indemnifies against loss by fire; which is only a possibility. Business insurance indemnifies asainst loss by death, which is certain, of the men whose brains,' experience, and character have mado or arc making the business a success. Their services are assets of the company, and as such should be adequately insured. Buildings, machinery, and merchandise can be replaced with money. Men and brains are harder to replace. Too often their loss is disastrous. The demand for business insurance is a logical one: it is tho natural accompanimcnt of modern methods and specialised ability, which requires as a fundamental basts of business that uncertainties be eliminated. 'and which counsels a small fixed charge with commensurate benefits and safety in lieu of false economy with constant danger of disaster. Business insurance furnishes a. financial comoensation in case of the loss of tho services by death of the man or men upon whom the corporation or firm must larpelv deoend for present prosperity and continued, success. Customs duties collected at tho port of Wellington yesterday amounted to £158'/ os. 2d.

HIGH COMMISSIONER'S CABLEGRAM. The Commorc3 and Tourists Division of the Department of Agriculture. Commerce, and Tourists has received the followine cablegram from the High Commissioner for New Zealand, dated London. June 17, 1911 (Note.—Quotations, unless otherwise specified. are average market prices on spot.) Mutton.—The market is ouiet, but steady. There is a better demand for forward deliveries. Canterbury, J d. Ncr lb.; North Island, light-weight, 33d. (scarce); r.orth Island, heavy-weight, 3£d. per lb. Lamb—The market is active, with p pond demand, and has been favourably; aficcU-a by the warm weather. Licht-v:cights nre in pood request. Canterbury. 43d. to 5M.s close of the market. N.Z. hinds, 2,d.. Beef.—The market is dull, and verj lit.lo .business doing, but fcelmc bet or-at the close of the market. Jv.Z. hinds,, oja., fores, 23d. per lb Butter.—The market is firm, with an improved demand. First-clare minUties are o-trcnielv scarce. Choicest IV .Z. butter, 108s per cw"; Australian. 101s.i Danish. 1155.; Siberian,- 101s. nor ewt. Cheese.—Tho market is firm, withi liar(lpiiinc tendency. New Zealand, 3s. 6d. per ° Hemp.-The market is steady, and there '*•? a fair business doin w . o a fair, on snot, per ton. f2l; fair [Trade, ,£l9 155.: fair current Manila. £i 0 10s.; inward .'hinmenl. N.Z. sood fa:r £21 7s. M : fair Trade. £29; fail- eurr-Rt Manila, m 5s The output from Manila for the week was 27,00n bales. . ..... , Wnnl.—The market is cuiot. with lio alterations in prices. Kanvi Gum—The market oiv.et, and there is small lmf.iiic-ss doing. Part brown fleeted, rrscraned. Kl «. M.; "ilt brown, three-ciliarter-scraned. °2s. fid.; dark bro"'n chins, drossy. Jos. 'o 505.; reshaped pale ember .SIS: p«!c three-qrar-tr,r fs.: dip-»"rr.' chips, sood, PCs. 6d. to 100s.; stock, 259 tons.

LONDON MARKETS. By Tcleeraph— Pros; Assnchtion-Copyrlehl Loncicn, June 18. Copra —'Market firm. South Sea, afloat, £25 to £23 53. Wheat—Australian carcoes sold at 335. 6d. to 335. 9d. . Hemp—The market is r>»iet. June-Außust shipments, £21 sa. per ton. Rubb?r ; —Fine liard Para is Quoted at 4s. 3d. Tier lb. , , Cotton.—Tho Liverpool ouotatlon for widrliiiiE -American upland cotton is 7.9'Jrl. ner lb. Rabbits are not selunc. TIN. By Telecraob—Press Association-Oopyriebt London, June 18. On the spot, £188 ss. cor ton; lhreo months, £188. WHEAT- AND TLOUK. By Tfcleeraob—l'ress Association—Copyright London, June 18. The wheat and flour, afloat for tho United Kingdom totals 3,365.000 cua,rters; for the Continent. 2.875.000 euarters; Atlantic shipments, 146,CC0; PaciOc shipments, 6COO. The total shipments to Europe, during tho week amounted tc 1/50.C00 quarters. including 194.000 from Argentina, 7C5.C00 Russian. 30,[C0 Dauubiau. 203,C00 from India, and 52,000 from Australasia.

Buyer?. Sellers, i. s. d. £ 6- d National 1-ank 6 0 ~ i\.Z. Tin,in and Mercantile* 0 12 6 r Well. Tni:l. and l.oaii .... V 1j I) t IS & Wellington Deposit — S 5 n Palmcrcton if. Gas , T . Meat Kspnrt (£5> 6 6 0 Moat Export (52e. 6d.) ... — 16 0 N.Z. .Shipping H J Taupiri Coal J ' ; , , Westport- Coal 19 0 } 2 5 I).I.C. Preference — 16b Lcyland-O'Hrien t I 0 — X.Z. Drug ■■■■• 2,0 c N.Z. Paper Mills — J ' ' Taranaki Petroleum 0 16 0 0 17 6 Tarinsamutu Totara ... — 2 ID 0 Ward and Co 5 0 0