COMMERCIAL ITEMS.

Dominion, Volume 5, Issue 1294, 24 November 1911, Page 10

COMMERCIAL ITEMS.

'.- INVESTMENT SHAKES. . The sal<*! recorded yesterday.. lington Woollen . preference. 5Rs. 6d . and Wilson's, Portland Cement 'at, <C?. and <0». 3d. The bnvlng and selling quotations were as under:— - ' Buyer*. Seller?. £ s d. . £ c.d. Fnuitnblc P.uildiiig .9 15. 0 ■ — National Mortgage 313 6 •Well. Investment. .0116' ' — Well. Trijst and Loau 7 10 0 — Chriitchurch'Gas ......... —... 9 13 0 VoiWinir <s»s —.12 3 GMjo'rh'e Gas 3 '1 0 Gas ■ 9 io '0 . — Well. Has fhew) — ,- 3 0 (I Well. Gas tprof.) D 2 9 . — National Insurance — 1 18 6 Canterbury Meat. -8 0 0. — OVistehnrch Meat 14 12 6 — Ifeat Export f£4) — 5 0 0 Vo i-t Esnort (525. 6d.). ...... — 3 0 0 stnjiT,, ~ 2 0 0 — W-11. Woollen (pref:). ... '2 18. 0 2 11 0 TMkurangi Coal ........... — 10 0 Wrstmrt Coal — 17 6 Vsiynin? and Co. ' 318 0 ' 4 0 0 .■"larlnwVs ordinary,. — 14 0 fchnrlnnd's preference ... — 14 0 THringamnt.n Totara — 210 0 W.ird n.pd Co. 4 18 6 — W"ll. Opera House — 5 0 0 Whitcombe and Tombs ... .- —, N . 6 13 6 MONEY MARKET. The "Now Zealand Trado Review," published yesterday, lias the following with re?""ct to the money market:— "There is little apparent chango notlceahle in condition? in this section at present. Money appears to contiune available in ood siipp'y for investment, and loV.ing rates remain at a fairly easy level. The realisatin of the season's produce during the next few months will assist in increasing tho supply of money also. At the'saute time, 'however, the pro-nods for out staple products are a little disappointing—wool" values are lower than last year, nrrt the reason is sbmewli2t backward: dn?ry produce, though commanding record prices shows n short !>•»« in nt\"nti»v r— : - td unfavourable weather, and very llttlo meat is coins forward so far. These factors have a decided bearing on the money market, and if the season docs not turn out favourably, it is not improbable that we shall see n somowhat firmer tone in the money markot." EXPORTS OF PRODUCE. Tho values of tho princinal products exported during the first half of the current month, according to an official return just issued, are as follow:— £ Butter 112,109 Cheese 61,<84 Beef 5M * ?*luttou 2,488 Logs and pieccs — . Lamb '. 485 Wheat ; 24 O.its ........r..„ 219 Potatoes 245 Tlcmi) 2,538 Rabbits ; 13,879 Tow 244 ..Kauri y'grum : 1,039 .Grand'-and pulse 2,205 Hops ■ : ;... £98 ' Hides * 2,»81 Skins - ..... s,jt>3 Tallow 1,278 Timber : ... 35.C83 Wool 13 J()5 • Goid' 63,874 . . ■ ' ■ -£507,iT8~ SHIPBUILDING RETURNS. According to the , shipbuilding return* for the quarter ended September 30, furnished by Lloyd's Register, thorp >vere (eseludins warships) 453 vessels of 1,446.ii7 tons' gross under construction in the United Kingdom at the end of tho quarter, as compared with 496 vessels of 1,476,394 Erross .tonnage on .June '30 last,, and 369 vessels of 1,154,197 tons gross'on September 30, 15:10.. Excluding warships, the workin hand in the principal districts showed tlia.t Glasgow took the lead wth 109 vessels, Newcastle being next with 68, and Sunderland third with 53 vessels. Of the ronntrics for which the ships were intended, tho United Kingdom heads tho list with 333 vessels of 1,189.109 gross tonnage, ami of tho total of 453 all building 2.5 only were sailing vessels. The size of the vessels is given in a tabular statement from which it' appears that there were 115 steamers of. 100 tons" aiid under SCO tons, and 103 of' 4CtO tons nnd under fiCCfl tons. There were : 27 of 6CCO tons and under BCM tons, 17 of BSCO and under IfI.CCO U of 10.0C0 and under 12.C.0 tons, throe of 12,C0S tens and nndar 15,0:10 tons, three of 15,C00 tons and under 20.[C0, and two vessels of CO.CCO tons or above. There were 168 steamer- launched during the nuarter and nine sailing sliipf. The .warships under construction in the Uniled Kingdom last rniartcr were 10 ji number 'at Royal Dockyard.-, having a total displacement of 87,440 tons, and 59 at private yards, having a total displacement of ai-ICfl tons. With regard io foreign and colonial shipbuilding,' the number and tonnage of vessels I'eselnding warship;) under con F.truction at various ports abroad, according to the latest returns received r.t Lloyd's, was as under:—Steamers. 307: gross tonnage, 686.P61; sailing vessels, 37: gross tonnage. 27,723. Germany comes first with 88 vessels of 275.185 tonnage and the United States next with 54 vessels of 88,549 cross tonnage. THE CREDIT BANK. The suspension of the Credit Bank was announced by cable in September, and the mail brings details of the affair which arc interesting. At the meeting of creditors and shareholder the chairman reported that the company was formed in 1898 with a capital of ,£I,LCO,CCO to carry on financial and banking transactions, principally in South American properties. No business was done until l9fl, when 4] silver miuing claims at Cripple Creek. Colorado, were acquired bv Mr. J. Smith M'Cann for £45,C00 in shares and £250 in cash, and were sold by that gentleman to the company for £750,C00 in shares, which were issued to Mrs. M'Cann and various nominees of the vondor. The company, however, bad done nothing whatever with the property, which had smcc been allowed to sleep, apd no other business was transacted until 1909, when tie directors

acrinircd Hip over property in Eastern Uoliviii for ia ph&ro *:• The .Sabaki Kivcr Company, Ltd., was next l formed, to t«kc ovor. :?l the prife of £17i,000 iu civOi and tharcs one-tlnnl of thai property .and' that roinpan.v promoted La Martona. Ltd.. V) jnkrj it oyer, at a rash profit.. of ~£?£ CO. 1. pon nrnrmir of tliat promotion tlie original vender ol tho property rienifuidcd, and obtained ncash payment of £50(if) in consideration of confirming the fale ennlraet. Tho rhnrohoWcns of La- Martoun, Ltd.. subsequently look proceeding lo have the r-harc set aside, and tho comp:)Dy went into voluntary liquidation. The liquidator nan £24.010 in hand, and wonld have to Heel with the claim of the Sabaki River Company in respect of the purchase tion nud the Credit Bank in turn, elaimert £47,000 against- the Sabaki Hiver Company. The prospectus vrliicli was Jssucn last May, offered £150,000 Credit Bank snares to .tho public, but very few applications vrero received, and the money sent in• returned. The company now owed -ERb/.a. end had, in the 6hape of assets, the cripple Creek property, to which no . present value ivas attached, and-the Bolivian propert?, which was valued at £7CO.CCO. Tlia* was'purely.a fancy figure and dcpencent upon the finding of a purchaser.

COTTON STATISTICS. The outstanding feature of tlio cotton statistics for the year according to the secretary of the International Federation of Master Cotton Spm ners' and . Manufacturers Associations, is that tho actual null stocks of Amerieni. cotton arc considerably larger than have been, eatimatcd' recently '.by vanoos statistical authorities. The total stocks °^. c " L ' ton held by spinners tbrouchoiit tha world on Aueust ol r . 2,619,052 bales, of' which 1.U5,166 bales we" American. With resard • to Great P nt , n :'" the total stock was 204,986 bale?, of which 115.882 bales were American. . The consumption of all kinds of cotton during the twelve months ' amounted to 17 8 1 9 070 bales, the chief consumers beinE the United States. 4,696, CM bales; Greni. Rritain. 3.384.480 bales: Russia. WW bales: Germany, ' ÜBa." 2 •ba es; India 1 479.803 bales: Japan, 1,254,078 bales. The total consumption in American cotton waji 11.559,401 bales, East Indian .3,647,(14 bales, and Ecyptinn 664,822 bales. . The spindles of the world "e .ghen " 137.278.752, Great Bntnin-.hanns 54,522,w54 shindies, tho United States;, 28 572,0t0_ <spipdlcs German 10.480.C90 spindles, Bussia 5,671,664 cpindles, and France 7,0M,C00 spindles. It is interesting to ; note that in Great Britain. 34.858,257 spindles, are cn•rasred on- American.. East Indian, and sundry cottons, whilst there are: 13,169.9,3 spindles using Egyptian, cotton. The mule spindles in Great Britain . amount .to 39 977 555, whilst, there are 8,050,925 rins sn'indies. There are at the present moment 896,924 spindles in tills country in course of construction..

IMPORTS OF FHOZF.N IKTO UNITED KINGDOM. Tho imports of frozen beef and ""'J. 1 ,"" into the .United Kingdom .for the fii ; t nine months of the present, year » pare with those of the two prpvious as lollow:— BUTTON. ' 19:9. 1910. 1911. £ £ TTra-nnv 78.448 ' 140.653 109.724 IM 1 iS.S » " 6,237,424 7,717,172 ' 7,812,516 -. ' BEEF. . ' , 1909. 1910. 19H: USA 32.330 10.314 • 6.812 T7ni"iHV. .: 175,149- • 184.135 8C.543 Argentina ' ......... '2,535:442 ' 2,519.(17' 2.644.85-1 a :ri... 337.933 813.229 . 691/94 New Zealand ...... 565.P93 7«.6J1 349.94J Oilier countries... 12 727 19 994 30,£76 . 3,1159,479 4,288,920 3,812,521 It will be noticed that the receipts of mutton from a-ll sources'other than ,\rT?n><nr conthi"" to show a shrinliage. .Australia' is £176,474 behind . last year's fiTiircs. '" , , „ , in beef, too. our I,ra.de.with the Mothor•laud ha.s fallen off considerably, the der'ino' in this ih=ta.ucc -anioun'tiiig to £121,735. '..

Customs duty, collected at the port, of yesterday amounted to £1523 18s. 7d. . . . WHEAT. . Rv Telesn-'nnil—PreV= . i.endon, Novcnbe.r P. 2.' The American vis'Mn siiT,nlv of wheat is estimated-at 104.944.CC.0 bushels. (liqc. November 23. 10.5 p.m.) .. London. 23.'„.. An Australian' chr'sb sold "a"£ 35s'. ANTWERP WOOL SALES. <c=..«(,Hm.-r^tirright (Rec. November 23,. 10.5 p.m.) London, November 23. At the Antwerp sales 7656 bales of La Plata' wool wero offered, and 1592 sold. Buyers wore numerous, but the -bidding was irregular. Fine wools sold at fivo to ten centimes below' September rates, crossbreds were unchanged.' LONDON'.MARKETS.; Tho New' Zealand 'Loan ; and 1 Mercantile'. Agency Coiupauy,' liiiiiited; liave' received iiic following, cablegram'from their London house, under date.Novembcr 22,:—Wheat —We have told an Australian'-parcel, at 355., ci.f. The market is firm,. b'nt iuacticc, and the outlook is ' uncertain. 'Wc quote per quarter, c.1.f., '.New. Zealand wheat, loug-b3rricd.'33s. fd., shortl)orri:d. 335. Tallow—We quote present spot v.-iluiji for the following descriptions:—Good mutton, 365. 6d. per cwt.: good beef, 345. ,9d. per cwt-.; mixed, 325. 6d. per cwt. The market is active. OTAGO GRAIN ' MARKET. !By Telegraph —Press Association.! Duncdln, November 22. In the grain market very few linos of oats are offering, and all coming to hand are readily taken, by shippers. The local demand is limited. "A" grade GaTtons. and Sparrowhills are niostly inquired for, prime milling, 35.; good-to best feed. 2a. lid. to 03.; inferior to .medium, 2s. 9d. to 2s. led. Wheat-millcrs aro not buying at present, and very little business is being done; medium quality is readily placed.for fowl wheat, which is' .in- good demand. Prime milling velvet, lid. . to 4s. (nominal); red whrats, 03 9Jd. to '3s". ICd.; best whole fowl wheat. 3s. 7*d. to 3s. BJd-; medium, 3s. 4d. to 3s. 6d;;~ broken and damaged, 2s. ICd. to 3s. 3d. PROPERTY SALES. Hears. Haroourt and Co. report having eold by auction the', following properties at the sale held yesterday at their rooms: —The lessees' intcrcEt in property, having an area of. 4-J acres, .situated in Epnni Hamlet, Lower .Hijtt, .to Mr. Benge, by his agent, for £621; a section .on the Lyall Bay Road, having a frontage of 30ft.: and an area of 10 perches, together with a fivel'oomed house thcreou, to Mr.- Stringer, for' £470; and a property in Duncan Terrace, having an area of' 2J- acres, to Mr. W. J. Ferkins, for £437.