COMMERCIAL ITEMS.

Dominion, Volume 4, Issue 1178, 13 July 1911, Page 8

COMMERCIAL ITEMS.

INVESTMENT SIUHES. Yostcrdav there were sales or South British Insurance at 755. 3(1.. 75=.. and 7oj. 6d., and Sharland's ordinary at 245. and 245. 3d. The buying and selling Quotations are as under:— Buyers. Kellers £ s. d. £ s. d Union Bank 6610 0 - National Mortgage 3 8 6 — Wellington Investment ... 0 11 9 — Christchurch Claa 9 15 0 - Meat Export (£5) 6 5 0 — Meat Export (5Zs. 6d.) - 3 » 6 Well. Woollen (ord.) - 4 13 Well. Woollen (pref.) 3 1 (I - Taupiri Coal 119 — . Weuport, Coal 19 3 — Kauri Timber — 0 16 9 Lcvland-O'Brion 17 6 — N Z Drug 2 9 3 — N.Z. Paper Mills 113 119 Taranaki Petroleum 0 16 0 0 17 3 Taringamutu Totara 2 6 0 2 8 0 Well. Opera House — 7 7 6 LONDON WOOL SALES. As was expected, values exhibited a decline of 5 per cent, for crossbred wools at the opening of .the London sales on Tuesday. The fall is not very great when all the circumstances are token into consideration, and if the market maintains the opening level of values there- will not be anv cause for complaint. The conditions so'far as crossbred wool is concerned are all against an improvement iu value, and the chief factor is the large European now available to the market. ANNUAL WOOL STATISTICS. The wool statistics compiled by Messrs. Dnlgety and Co., Ltd., show.that, for the wool year ended Juno 30 last, the exports from Australasia, totalled 2,468,750 bales, as compared with 2,434.643 bales in the previous voar, the exports from each State showing as under:Bales. Bales. New South Wales 923.831 931,203 Victoria 501,835 510,043 Queensland 281,352 238,722 S. Australia 174,639 160,673 W. Australia 73,395 63.55 a Tasmania ..; .' ' 20,326 ' 17,304 Commonwealth 1,975,378 1,921.705 New Zealand 493,372 612,933 2,468,750 2.434,643 New South Wales. Victoria, and New Zealand exhibit shrinkagea, New Zealand's decrease being very pronounced. The net weight of the wool exported during the past year was 820.012,4491b., as against 816,E61,C651h. in the previous year. According to the same firm, the wcol sold at the sales in Australasia were as under:— 1910-11. 1909-10. Markets. Bales. Bales. Sydney 7E4.3G9 818.330 Melbourne 305,234 361,837 Geelong 110,9.53 104.177 Adelaide 145,049 138,585 Fremantlc 1,450 1.389 Brisbane 215,160 180,539 Tasmania 19,420 19,704 Commonwealth 1,642.555 1.624,561 New Zealand 222.612 255,134 . v 1,865,167 1,889,745 Although the sales for the season just closed wore not as great as thonc for 190910. they havo not been exceeded in' any other season. , FROZEN MEAT IN ITALY. Messrs. W. Weddel and Co., Ltd., in further reporting, under date June 1, on the outlook for frozen meat on the Continent, have the following to say with respect to the position in Italy:—"lt is pleasant to be able to report that no unfavourable tendency has manifested itself during the past month or two in the development of the frozen meat trade in Italy. It would appear that distinct progress is being made in the cnusumption generally throughout the country, while the prospects are that ever-increasing supplies will bo taken for the provisioning of the. Army and Navy. It is roported that large contracts have been made for regular delivery over the current year at the ports of Gonoa and Naples. The bulk of the meat which so far has gone' to Genoa has been of South American origin, while the' deliveries to Naples havo mainly consisted of Australian meat.

"As regards the retail distribution of the meat, the north of the country is mainly served from Genoa, while Rome and south of that city are largely supplied from Naples. The number of shop* where frozen meat is retailed has multiplied in a wonderful fashion, and this is best exemplified in Homo itself, where there are now over twenty shops open for the sale of frozen meat, while but a few months ago the shops could have been numbered on the fingers of one hand. It is reported that frozen meat is being very largely consumed in the capital. Similar progress is reported;in the other large centres of population, while a steady trade in small parcels' is being built up ' also in the smaller towns, although the absence of tho necessary stores will hamper this trade in the summer months: If tne ucvelopinent. of the trade continues at the present rate; it is manifest that the existing storage capacity will soon prove to be far from adequate. The privately-owned store in Naples is nrasently beinp enlarged to a capacity of 500 tons. Various schemes have been mooted for the establishment of cold stores at other ports, but so far no nrtive steps appear to have been taken. The port of Genoa would appear tr> offr*r the best opportunity for extensions in this direction, although it must be recognised that the present harbour accommodation is not commensurate with the importance of the trade done, and congestion and delay are not infrequent occurrences. To sum up the prospects of a steady expansion ,in the importations of frozen meat into Italy are very favourable, while the industrial development of the country appears to afford openings also for other colonial produce." Customs duties collected at the port of Wellington yesterday amounted to £7160 155. 2d.

LONDON QUOTATIONS. By Telczraph — Press Cnpvrtjht London, July. 11. Bank shares are quoted as under:—Australasia, £120 ICS. to £121 103.: New South. Wales, £43 10s.' to £44 lis.; New Zealand, £12 2s. 6d. to £12 12s. 6d. METAL MARKETS. Br Telesraph—Press Association— OopyTiehl London, July 11. Copper.—On the spot, £57 2s. 6d. per ton; threo months, £57 12s. 6d. Tho American stocks of copper amount to 157.434.CC01b. Tin.—On the spot, £195 15s. per ton; three months, £188 10s. Lead, £13 7s. 6d. per ton.