COMMERCIAL ITEMS.

Dominion, Volume 4, Issue 1218, 29 August 1911, Page 8

COMMERCIAL ITEMS.

INVESTMENT SHARES. There were no transactions in investment shares yesterday. The liuying and celling Quotations were as under:— Iluycn. Sellers. £ s. (I. £ a. d. Well. Investment 11l 1 - Oliristchurcli Gas — 9 15 0 i'cildinc (las 116 — Standard Insurance 11l 3 •- Christchurch .Meat — lfi 2 6 Union Steam — 2 ?, 0 'I'aupiri Coal — 119 IVestpnrt Coal — 19 3 Wcstport-Stoc.kton — 0 2 0 manning and Co — 4 5 0 N. 7.. Drug 2 10 6 - ■Sharlaml's ordinary -- 14 9 Taranalii Petroleum 0 16 0 0 16 9 THE WOOL TIIADE. The Leeds correspondent of "Tho Economist." writing on July 7, describes the position. of the wool trade as it then stood as follows: — The West Riding has naturally been very much interested in the woolcombcrs' strike, and it directs attention to the connection it bears with the different branches of the woollen, industry. There is to-day an increasing quantity of worsted yarns being used by woollen manufacturers. Such useful fabrics as coatings, rainproofs. serges, and costume cloths arc in many cases a combination of worsted yarns and woollen wefts, and although thcro has been no difficulty so far in obtaining an adequate supply of yarns, still a big strike such as we havo seen during the Dast three weeks has meant more than is seen on the surface. The woollen trade nroner is to- ■ day still enioying a, fair degree of prosperity, but there is no gainsaying tho fact that things are quieter, and orders arc nothing near so plentiful as manufacturers have been accustomed to sec. Many firms have' been unable to cope with the work they have had in hand, and have therefore put. out a fair amount of business to commission mills. Some are withdrawing this, which is a-, sure indication that there is less pressure on order books. The shipping strike for the time being held un a fair weight of tops, yarns, and fabrics, but even from the Continent we havo reports tha,t business is .not good. There are more standing looms to-day than we havo seen for some time back, and especially .among those producing women's wear fabrics. Tho reign of the hobble skirt has meant a scnsiblo reduction in the amount of material required for costume purposes, and its passing is welcomed.

THE BTJTTEE MARKET. The butter market is cabled firm and brisk, and furthermore we are told that the drought lias not affected the market. Yet there has been an advance. .1 substantial advance which must be attributed to the strike. Comparing the Quotations at the end of July with those last cabled wo have' the following :— July August. Danish 120 a. to 1225. 1425. to 1445, Australian, , choice 110s. to 112s. 1225. to 1245. Australian, 2nd 102s. to 103s. 112s. to 118s. Danish has advanced 225., choicest Australian 125., and secondary Australian 10s. The difficulty of obtaining sum>lics would account for this. Although work is being resumed in London, it is not to be supposed that business has got back to normal. With about 2CO steamers awaiting discharge in .the London docks, there must be. tremendous difficulties in obtaining supplies, and it is but natural to suppose that the big restaurants and catering houses would pay any price to secure immediate supplies. It would be unwi?x; to build upon last week's prices as representing the true state of affairs, but a week or a fortnight her.ee the situation wonld he more normal and a better judgment of the prospects could bo formed. . COLONIAL GOVEEXMENT SECURITIES. Although money in London is comparatively cheap, and tho figures of the Bank of England show exceptional strength, there is no movement in gilt-edged sccuri-' ties. Consols are down to £78 55., but Colonial Government Securities have exhibited no change whatever in three successive weeks. This is really extraordinary, and indicates the .extreme dullness that affects gilt-edged securities. Consols at £78 ss. return approximately £3 4s. per cent., and it may be safely assumed that colonial loans must, show a higher return, at least ctiual to 4 per cent., and the market is working towards that. Colonial 4 per cento, arc still above par. but they are steadily working downwards. Compared with a year ago, the 4 per cents, avo from 10s. to 211s. lower, the Yn per cents, are practically unchanged, but the 3 per cents, ore substantially lower. Tho following tabic is interesting:— Aug. 1911. Aug. 1910. £s. d. £s. d. 3 p.c. N.S. Wales 37 10 0 88 0 0 3 p.c. Victorian 6410 0 85 10 0 3 p.c. S. Australian ... 82 0 0 £4 2 6 3 p.c. Queensland 86 0 0 85 10 0 3 p.c. N, Zealand 8610 0 83 0 0 3 p.c. W. Australian ... 86 10 0 88 0 0 3 p.c. Tasmanian 84 10 0 ES 0 0 Tho Queensland denomination is the nnly ono to exhibit an advance, all tho other's have declined. South "Australia, in particular showing a fall of £2 2s. 6d. Customs duties collected at the port of Wellington yesterday amounted to £6113 6s. Id.

FROZEN MEAT. By Telegraph-Press Association-Copyright London, Aucust 27. The Frozen Meat Trade Association's Smithfield markot Quotations for the undermentioned classes of frozen moat aro based on actual sales of. not less than ono hundred carcasses of mutton or lamb, or twenty-fito auartcrs of heel of fair averagp quality. The quotations aro not for selected lines, but for parcels fairly representative of the Imllt of the shipments now on the market. Tho nriccn which follow aro on an avcraie a fnrthinf per lb. more than the valuo ex ship this difference representing an averago cost in expenses, handling, conveyance, and Ecllins: the meat:— Mutton— Canterbury, licht _.. * Canterbury medium 5S Canterbury, heavy " Southland « North Island .-. 33 Austraiian, light 33 Australian, heavy 3; Kiver Plate, light 3? Kiver Plate, heavy 3 9-16 New Zealand ewes 31 Australian cvfC3 oil Kiver Plate ew«s 33 * Nona offering. Lamb— Canterbury, light !,] ' Canterbury, medium 5V Canterbury, heavy 5 5 3-16 North Island, selected 5 3-16 North , Island, ordinary 51 Australian, best * Australian, fair * Australian, inferior * Kiver Plate, first 43 Kiver Plate, second : <U * None offering. Beef— . New Zealand, ox fores 23 New Zealand, ox hinds j^ Australian, ox fores 2i Australian, ox hinds i 5-16 Biver Plate, ox fores 2 5-16 Kiver Plate, ox hinds 31 Kiver Plate, chilled fores 2J Kiver Plate, chilled hinds 33 VTHEAT. . By Telegraph—Press Association—Copyright London, Ausrust 27. .Three Australian cargoes of wheat sold at 3>!3. 6d., 335. 7jd.. and 355. 6d. respectively.

HIGH COMMISSIONER'S CABLE. The Commerce and Tourists Division of the Department of Agriculture, Commerce and Tourists has recrived the following cablegram from the High Commissioner for New Zealand, dated London, August 26. (Note—Quotations, un'.es3 otherwise sncciiied, arc average market prices on snot).— General—The strike has terminated, and work has been resumed; the markets a.re again normal. Storage changes will bo increased 75 nor cent. Mutton—The market is quiet, hut moderate business doing. Canterbury 4d.. North Island 33d. per lb. Lamb—Tho market is speculative. There is an inclination to force sales of lamb. There is a fair lorai dt-mand. Canterbury 5Jd., other th.in Canterbury slrt. nor lb. Beef.—Tho market is deorcssed. Stock is heavy. New Zealand hinds 3id.. fores 23d. per lb. Butter.—The market is firm owing to reduced supplies. There is a general and active demand. Australian 1245., Danish 1405., Siberian 120s. per cwt. Cheese.—The market, is very firm. There is a, good demand. New Zealand 665. per cwt. Hemp.—Tlie market is very ouict. New Zealand good fair, per ton, on soot. .£2O; New Zoaland fair grade. £19; forward shipment at the same price. Fair current Manila, snot., ner ton, £19 155.; forward shipment, X2O 10s. The output from Manila for the week was 30.000 bales. Cocksfoot Seed.—The market is nuiet. It is reported that the Contincut.il cron is medium in ouantity, and a, good duality, and selling at 65.-. per cwt. Wheat.—The market is very ouict—nothing doing. New Zealand lone-berried wheat, spot, ex granary, ncr nuarter of 4961b., 345.; short-berried, 335. 6d. Oats.—The market is steady and a fair business doing. New Zealand oats, short (sparrowbills), trranary. spot, ner nuarter of 38411)., 20s. 6d.; Danish, per riuarter of 3201b., 17s. Cd. Eeans—The market is very ouict: simply is practically exhausted. New Zealand beans, f.a,o. (old crop), per 5041b.. 345. Peas—The market is over-stocked, depressed. New Zealand peas (cartridge), i ner ,6041b., 395.

Wool.—Tho market is rmiet out firm. The. current duotalions for Bradford lops arc:—36'f., low cror-shrcfls, Is. lid.; 40'?. law cnxvsbrcds. Is. 2d.: 44's, medium. Is. 2id.; .•>o's. halfbrods. Is. 6Jd.: 56's, ciuartcrbreds, Is. 9.W1.: 60's. merino'?. 2s. 2d.