COMMERCIAL ITEMS.

Dominion, Volume 5, Issue 1248, 6 October 1911, Page 8

COMMERCIAL ITEMS.

INVESTMENT SHAKES. ■ The sales of investment shares recorded yes-terduy were Metropolitan Permanent at £12 69., ami Wellington Gas, rights/ at 3d. The buying ami selling Quotations were as under: Buyers. Sellers. •Rs.cl. JSs.d. National Bank 6 19 6 2 3 Well. Trust and Loan ... 7 9 6 - Well. Deposit, — 0 8 0 Christehurch Ga3 9 12 6 . — tollding Oils' 116 - Gisborne Gas - — 316 Well. Gas (£10) - 19 0 0 Well. Gas (£7 155.) 15 15 0 16 0 0 Well. Gas (new) 2 15 0 - Well. Gas (rights) 0 0 2 (10 3 Union Steam — 2 0 6 Well. Woollen (pref.) - 3 0 0 Ilikurangi Coal — 11(1 Taupiri Goal — 12 0 Weslport Coal : 18 9 — Levin ml O'Brien 18 9 - N.Z. Paper Mills 10 3 - Sharlaml's ordinary — 14 6 Taranaki Petroleum — 018 0 | Taringamutu Totara- — 2 4 0 Well. Opera House - 6 0 0 Kotuku Oils (10s.) — 1 14 0 Customs rerenne collected at tho port of Wellington, yesterday amounted to £2859 iU. lid.

IUTBBEJ!. StatutU's just published show that the production of rubber throughout the world in the twelve months ended Juno ;0 amounted to 79,305 tons; as compared with V 6.553 tons in 19M-10, the increase being 2752 tons. On the other hand, the world's consumption is returned at 7-U62 tons in ISID-1911, as against 76,026' tons in lite preceding year, a, reduction of 1944 tous. Tho harvcet ot Para (lualitws comprised 33,<E0 tons of tho world's total production in 1910-1911, as contrasted with 38.996 tons in 1909-1910, ami the consumption was 33,921 tons ami 39,363 tons iu the two years respectively, Tlie arrivals ot rubber in Europe amounted to. 45,085 tons in 191C--1911, an against 44,336 tone, an advance of 749 tons, but the arrivals in the United States experienced a diminution of 2433 tons. Stocks throughout the world are stated to have reached 12.563 tons on Juno 30, ns compared'with 6998 tons, being 5565 tons more. In the case of Europe. alone, stocks are returned at 6554 tons, or 1447 tons in cscoss of 1909-1910, and those in the Unitod States also advanced from 228 tons in the latter year to 569 tons on Juno 30 last. The' price of fine I'ara. which amounted to 10s. per lb. at the beginning of July. 1910. had fallen to 4s. IM. by'tho lniddle of January, and to 3s. lid. by tho end of May, recovering to 4s. Id. at the close of June. Since then the price has been fairly stable, and had experienced an incrcaso to 4s. 3d. per lb. at the cud of Last week.

WITHOUT PUBLIC DEBT. The Federated Malay States have no public indebtedness, a unioue experience in tho history of newly-developed countries. Not only is tho federation free from debt, but it has constructed roads, railways and other nublic woTks out of revenue, and in addition has built up a reserve fund to the value of £2,500,000. Loans to planters and agriculturists, as well as tho cost of 121 mites of trunk railway, are not included in this total. In fact the financeG of the country are in such a healthy condition that the federation on tho cession of territory by Siam agreed to advance to the latter the £4,000,000 necessary to construct a railway through its eastern provinces, to link up iwith thn Federated Malay States system at the boundary. There are" no import duties except on opium .and liquors, but large suma have been raised from an impost on tin exported. Owners of tin mines now demand isotne relief from this burden -,n their industry, on the ground that the money so raised is not being employed in developing the country. In the early days tin miners contributed very willingly to the revenue for the general good, but they protest at being required to contribute on {he samo scale to a reserve fund for lending money to other people, and the contention seems reasonable. With tho extension of rubber plantations and the consequent increase in the export trade, the incidence of taxation should not be allowed to oppress any particular industry. SHIPS' JIEDIOINE CHESTS. THE OLD STYLE AND THE NEW. From time immemorial, probably, ships have sailed with something in tho nature of a medicine chest on board. Long ago the Board of Trade laid down regulations prescribing what drugs should be carried, leaving it, of course, to the master of the ship to decide what would be tho best remedies for particular ailments. Old salts' who were quite competent to do a bit of rough surgery when occasion required were hardly likely to go wrong when it name to selecting a pill or mixing a potion. In the end. however, things reached a rather unsatisfactory stage. New drug 3 as well ns new Ideas enmo Into votruo, putting to shame the old-time medicine chest, and leaving the pailor at a for ramo of the best and most effective of tho new-fashioned cures. The shipowner, too, got a little tired of paying for drugs which were but rarely used, but were, nevertheless, not inexpensive.

The upshot of it was that the Board of Trade appointed a. committee of medi™! men to go into the whole oiiestion with a. view of hringintr the spin's medin'ne chest right up to date. This committee hni rigorously overhauled the old scales, and has suggested all sorts of imorovements. . Among other things, it nropowo that medicine in tablet form hitherto not permitted by the scalen shall in futuro be carried, under t-. strict guarantee ot quality. This will he a. verv great convenience, as it will allow the use of a wide range of drum which can he rut on Wrd in a enrapnet form. Tt will he understood, that the committee's inquiry v-ns nartirribirly concerned with the rape of shins which carry no doctor. Tt is here that the need for reform. Is particularly marked.

WHEAT. By TcloETapb—Press London, O"tohcr 4._ Tho American visible' Supply ,of wheat.is--68,142,000 bushels'. ." TALLOW SALES. By Tclccraph—Press Aesnrirtion—Cnnvrisht , , London, October 4. At the tallow sales, 1886 casks were offered, and 1596 sold. Prices were unchanged. LONDON WOOL SALES. By Tcleeraph-Prcss Association-Copyright London, October 4. At the wool sales prices wero unchanged. Scoured and faulty wools met with an irregular sale. " The Now Zealand Loan and Mercantile Agency Company, Limited, have received the following cablegram from their London house under date October 3, regarding the progress of the fifth series of London wool sales:—"As compared with last sale's closing rates. prices aro about tho - same for greasy merino super and greasy crossbred lambs; lower' by about par to 5 per cent, for greaßy merino medium and coarse greasy crossbred;- lower about 5 per cent, for lambs, lino crossbred, 'coarse scoured crossbred, crossbred stipe, greasy merino inferior, and scoured merino super; lower by about 5 per cent, to 111 por cent, for scoured merino me-, dium" and inferior, and medium crossbred. The sales progress firmly, but there is some irtegularity in the bidding. America is not operating." BETJTEE'S TELEGBAIt COMPANY. The directors of Keuter's Telegram Company, Limited, have declared the usual interim dividend for the half-year ended June 30, 1911,' at tho rate of 5 per cent, per annum.