COMMERCIAL ITEMS.

Dominion, Volume 5, Issue 1257, 12 October 1911, Page 8

COMMERCIAL ITEMS.

INVESTMENT SHAKES. Investment shares arc very dull, and bufiinc<s is restricted. The sales rccordod yesterday were: ChTistchurch Gas. .£9 12s. fid., and Wellington Gas flight, 2d. The buying and selling Quotations were as under:— „ \ Buyers. Sellers. £ s. d. £ s. d. Rank New Zealand 12 0 0 — National Bank 6 1 0 6 2 0 Well. Investment 0 11 ? — Christcliurch ■ Gas 9 11 6 9 13 6 Well. Gas (£10) - n 19 0 0 Well. Gas (£7 155.) 15 10 0 - Well. Gas (rights) — 0 0 3 N.Z. Shipping 11 0 0 — Well. Woollen (pref.) - 3 0 0 Taupiri Coal — 116 Lcyland O'Brien in ~ Manning and Co 3 19 0 — N.Z. Paper Mills 10 0 — Sharland's ordinary — 1 ; S Tavingamutu Totara 2 2 9 2 4 0 Waxd and Co j ]8 0 — Whitcombe and Tombs ... 6 12 0 — LONDON WOOL SALES. The London woo! sales have dosed without change in values. That is to say, the initial decline of. 5 to 75 per cent, has not been recovered. Towards the closo there was a good demand for all classes of wool, and the prospects for the immediate future, arc favourable at present prices provided that there aro do further political complications. Once more the market had to depend upon the support of Yorkshire, for, out of a total of 138,000 bales catalogued, Homo buyers took 70,000 bales, the Continent <O.CCO bales, America 2000 bales, leaving 26.K0 bales to be carried forward, and, of this Quantity, 19.GC0 bales are from New Zealand. When all the circumstances are considered, the results of the sale are not unsatisfactory. In normal times tho "bears" operate to depress the market, and, on this occasion they havo been assisted by serious political complications in Europe, business stringency in tho United States, and .an ■ adverse money market. ThKO conditions cannot be expected to continue, and, as wool at' curr.-nt prices is chonp, speculation will revive as soon as the political factor is out of the way. Tho December sales mav not witness much improvement, but it will be very disappointing if there is not a strong revival in January. THE CUBEAJiT TRADE. From the growers' point of view the Greek currant year, which ended on August 22, was a disappointing one. Messrs. Burlumi, in their annual report on currants, say that tho experience gained during the closing season confirms the view that the public rcvo'ts against high priccs. Tho shipments of currants from Greece in the past vear readied 114,500 tons. To the Privileged 'Currant Company's Retention Stores there were delivered 27,000 tons, and 45C0 tons of fresh and dried currants were made in Greece inl« wine. The crop of 1910 is put down at 123,000 tons, against 185.0Kl tons m the previous year. Estimates of this seasoil's crop vary and range from 140,000 to 165,000 tons.

DROP IN COTTON. The price of cotton lias declined from 7.93 d. m June to 5.56 d. now. with ,a prospect of a further decline. Tho fall 111 values is due to the increased production, tho estimate of the world's crop for 1911 as published in the "Wall Street Journal being as under:—Bales. United States 14,600,000 India 5,5C0,0C0 Egypt 1.600,000 Other British possessions 81, COO ChinaRussia silt,Ota "Mexico 290,CCD Brazil — 219.000 Asiatic Turkey 150,000 Peru 111,000 Other 133,000 25,084,000 The bales are 5001b. each. The world's cotton crop in 1907 and 1909 just exceeded 16 500,000 bales, and in 1908 and 1910 it was greater, but 25,000,000 bales b easily a record. This big Euppty of cotton will probably have some effect on wool. HOP CROP PBOSPECTS. Messrs. John Barth and Son. of Ncuremberg, in their report, state that tho long, spell of dry weather which most of tho hop-cultivating countries havo experienced has altered to a very great extent the rather promising prospects indicated at the beginning of July. There was a great Ecarcity of hops last year, and the position is, therefore, such as to make for high prices. With respect to tho European crop the lupulin. is said to be very rich. This will onalile the breweries to econ'omiso on hops without detriment to the beer. The European position must bo pretty desperate for. according to the 'Svdncv Morning Ber,a!d." New Zealand hops are being exported from Australia to Germany. "The hop crop in Bohemia and in' Germany, too, .presumably, has been cut down greatly, by the disastrous drought which has prevailed the greater part of the summer all over Europe, and as we mentioned last week, prices of Bohemian hops o.i.f. and e. Hamburg for Australia have practically doubled. The nuotatiou is now 39te. per cwt.,yvliien. "of couvc. is prohibitive. In these circumstance 5 , it was not surprising to learn that Germany was making inquiries whence she could import hops. These innuirics which both in Australia and New Zealand are directed especially towards stocks of New Zealand hops in both Dominion?. and from the fact that it is now very difficult to obtain large parcels of New Zealand growth it is .judged that some heavv sales have been made for •liipincnt abroad. New Zealand hopa could be procured at 140s. per rwt. f.0.b., while the ruling price of Bohemian lions at Hamburg would be not less than 3Sl:<. per ewt. in bond. It, therefore, will readilv lie perceived that there is ample inarriu between the two prices to pay a handsome profit after allowing for freight and a hoavv Customs duty. New Zealand hops are preferred to Tasinanian hops for export, because they possess better keeping qualities." Tho Customs revenue collected at the port- of Wellington yesterday amounted to £1519 17s. 4d. METAL MARKETS. By Telegraph—rress Association—Copyright London, Octobcr 10. Copper.—ln stock, t<(),S9i,CCO!I). Tin.—On tho spot, £184 153.; tlu'eo months, £184. Lead, Xlj ss. . Pilvcr.-Ear silver is f|tiole<i at 241 d. per ounce. LONDON QUOTATION'S. By Telegraph-Press Association-Copyright London, October 10. The latest quotationsinclude;—Australian Slercaatlla, flCOi ildbourns Oaf. £101.