COMMERCIAL ITEMS.

Dominion, Volume 5, Issue 1295, 25 November 1911, Page 8

COMMERCIAL ITEMS.

INVESTMENT SHAMES. The sales recorded yesterday were: N'ationsl Insurance. £1 18s. 3d., and Ward oi".l C',).. X.b. Tho huyinc and scllins iiuotatioi:.; were as luulei , :— Iliiyer-". f-oll«r#. t s. rt. £ f.d. Metropolitan DuUdiug ... 12 5 0 Well, fins (.£lO 18 7 5 _ - Well, (las (new) - 4 0 0 Well, flas (pref.) 0 110 0 3 C Canterbury Meat 8 0 0 Meat Export ■ ~ 5 " " Meat Export (525. 6d.) - " [ ' 1 X.'Z. Shippiif! - „ 11 12 e Union Steam : 2 0 0 - Kikurangi Coal - J 0 0 KrSc; :::::: 3ls o 111 Sharland's ordinary - MS Sharlaud's prrterenco ... — i.l 5 Tarinsamutn Totara — 2 iu 0 Ward and Co < 5? 0 -- Vfhitconibo and Tombs ... — C.o 6 Kotuku Oils COs.) - 16 0 TIIE STRIKE CLAUSE. Mr. A. E. Mabin, chairman of the Now Zealand Woclbro'.iers , Association, lias made tho followins official coaiinunication to the press:— At tho conference between woolouycrs p.tid woolbrokoif, held in Ciiri-tchurch on. November 14, most of the amendments to the conditions of sale affected the position between buyer and broker only, but one new condition ir.ay affect the woolgrowers of the liamiuk-n, :v* it lias been found necessary to raaUe provision for possible strikes. "Hitherto thero has been no strike clause in condHior.s of sale, but a now condition was agreod upon to the effect that should delay in delivery be caused through strikes, and tho wool is not paid for, the buyer shall have the option of cancelling the sale. If the wool has been paid for. tho e:s1o rcmniiis valid, hut in abeyance until delivery is possible. As buyers must pay for wool within fourteen (lays, a strike can uuly affect tfce grower if it. occurs wi'.hiu fourteen dnys of sale. There is a fair.c.vhot similar strike clause in tho London conditions of Ealu.

THE LIFE OF THE EJSI). As the largest rroducer of pold in fhe world, tho prospective life of the Witwatcrsrand is of intsrc.'t to all civilised nations. The latest estimate of the gold rssourco? of tfu< district 111 question has been made by th« 3linisley for Finance for the Union of South *\fiica, and :>s he doubtless based his calculations en all Ihc information that the Jliuos Department was able to supply, the figures deserve more tvttantion than any yet Euhmittcd on the sublect. In introducing his Eudpet for the current year, the minister estimated the prohab'.e production of nold from the Hand at .£2,CCO.KO,CM. T,3.n j car the output wm valued sit ,£5".tC2,9i2, so that on the Minister'* estimate the life of the Hand will last well over fifty years. ICosl of the lower estimates were made many years aso, when thn full extent of the gold-bearing district, especially In itn Far Eastern extension, was not to well Known as it now is. Thfa section of tho Itand r.ot only extends in length irom the apex to beyond the Moddcrfonlein uvea, a distance of about twolvo niiles, but the reefs are so Cat that, thoir worhable depths, it is stated, give a mineralised area of more than twelve snuarc miles. To work a, mile from Van outcrop in tho ordinary dip of the Hand means very eor>siderabfc depth, but to be able to work twelve mile?, as in the Far Eastern Tir.mi. means an enormou-s addition to ihe v.ealth of the Transvaal and to tho life of the field.

KO PUBLIC DEBT. Tlio annual renort of the Chief Secretory of the Federated Jlalay S:?tes will bo rcsarrtcd with someiJinig aUIn to envy by iVeacurcrs and others who eoaln-l t)is finances of their country. The Endgii, for 1910 shows that the revenue wr.s C79.CCO, or £326,0CQ in excess of the expenditure. Not oaly is there no public debt, but the Federated JTa-Iry Ptatr.s p»"--'= surplus assets to the value of £4,979,700, of which nearly h.ilf is realisable r.t short not'.ce. the balance beiu™ invested in fixed lor.ns. The oversea trade in 1910 amounted to £17,770,CC0, of which nearly £12,CC0.C.C0 rcpreicnts export", rubber and tin bains the chief products. The latter commodity shows a reduction on the figures of the previous year, attributed in part to Hie shortage of- labour owiuj to the increasing reouircments in this rePiioct of the rubber industry. One of tho features of tin in Ihe Fcderaled. Malay S(=tes is that, with two cxceptior.s, no lodes are worked, and the warden suggests that the Government should consider the ouestinn of givin; facilities ■ in this direction, in view of the roj'.ilties paid by the industry. A large revenue is derived from land in tlio form of rent. i:i addition to the purchase price. Vi'hen land is sold for agricultural purposes, a rent is reouired t-> be paid over and above the first cost. Thus every acre of <nu-h land sold meacs not only an immediate increase of revenue, but a permanent increase as well. PEANUT OIL. According to a report issued by ■ the United Stats Consul-General at Mar.-cillcs, the peanut oil industry of the South of Trance has, of recent years, assumed considerable proportions. Tho oil is, he states, highly rated as a s.i.lad, and a cooking requisite, and is used extensively by sardine manufacturers as we!', as margarine makers. In fact, in that country, it ranks lmt to olive oil in popular favour, being much more generally preferred thrn cotton oil. It is frequently mixed with olive and other vegetable oils. The industrial e:radcs obtairrd from the IwHan nuts, and the second pressings of the African varieties, n.re consumer! mainly by the soapTiaking industry, but n certain proportion is aiso employed for illuminatin" a.r,fl lubricating purposes. Tho Marseille; mills produced in 1910 170.CC0 tons of poo nut oi! rake. The r;il;e !3 used fo" cat!!e feodim. About 60,000 tons art exported annually, ehieSj to fitrnimiv nnrt Ksandinoyio. Peanuts in ♦•!"> "!-o'l ,->-> never ground whole in the ifarrcUles'niillV On the routrary. csprcsdon r.I tho oil is almost invariably preceded by i>, careful preparation of t'u nuts, particularly in t.'nc case of.ot'.iblo oil. The pcunuts are crushed only aftoi* hn-vintj been cleaned and \decorttcaited, and after every effort Ins been made to remove entirely the germs and the red skin covering the kernels. AH these operations are done by machinery.

Customs duty collected at tlic port of Wellington yesterday amounted to £1808 BANK OP ENGLAND KETURN. ByToletrraDh-Prc"!! Associntion-Copyrizht (Rec. November 24, 10.20 p.m.) London, November 24. The Bank of England return, issued for the week ended Wednesday, November 22, is as under:— Ibsue Df.patitmf.n't Koto Issue ...•«M74,0W Roy.debt ... £11,015.030 Other eeouri 'ft 5 7.M4.W0 Cola 3"..8J5,00J f54.274.000 £51,27-I.l*o BixKrxa DEPAimrrK-r. Proprietors' Govt. securicapital £14,553,000 ties .{H.iSS.OOO Public do- Other Eecuriposits ... 12.818,003 ties 25.950.000 Other fioposits ... 39,667,000 Xotos „. 25,773 COO Rest, 7-do.y and other Mils 3.178.r0n Coin ■- „. 1.0)5,003 £70,230.000 £70,-236,C03 The leading items of tho Bank ot England return afford the following comparison:— This week Last week. Last year £ £ £ Bullion 35.52'\00a 35.0:0.000 3i m COO Reserve 2i.filß.oUo •'Ci.ttS.OIW a 5 Ess (03 Note circulation i3,501.U)0 28.-147.10 i) 28,153,000 Public Deposits 13.818,0UJ 10.fi35.000 11.-jr.l.ay Oilier DeiiosiM 30.C87.WJ W.tlib.TO 50,00J,0J3 I'rojjortiou of reserve to liabilities ... 51.01 40.71 51.47 GOVERNMENT SECURITIES. The following are the latest quotation) lor Government teeurities. with n comparison of thoao ruling last week:—

BAXK RATES OF DISCOUXT. The Bank of England rail' wan. 06 lieccm'uei, 1. 1910. lowered from 5 to Q per cent.: on January 27 it waa lowered to 4 per cent,, on February 16 Iβ I) per cent., and 011 March 9 to 3 per ccut. On Ksi'iembcr 21 it was advanced to' 4 per cent.. 'I'lic lianl; of Kriuice rate was reduce! from 3J to 3 per rent, on January 23. I9CS. and' continued at the l.ittor ilsr.rn iinlil September 21, 1911. when 11 was raised to 31 per cent. The Imperial Bank of Germany reduced its rale from 5 to 4> per ncnt. on February 6, awl on. I'obruary U the rato was

further reduced to 4 pit i-cnl. °" September !9 the rale was raised to 0 per ri-llt. MAEKOT HATKS OF DISCOUNT. The following are the market rates tor be-t three mouths' lull?:— Loml'in l'aris Berlin rale. rale. rme. percent. Percent, percent. Tiiis week 3 : i 3| -V La : .t wed; ■>, $ 5 vear l *2 -■> * K'noi-i Jt>-n;= arc quoted at "i per cent, os compared willi 'i\ per cent, last week, aiid 5 per tout, last year. COLONIAL AND OTHKR KODL'CE. WheM.-Tlie markeis are quiet, v. ith an easier tendency on favourable id uits of weather. .16=. 6d. is listed for South .Australian, loading September; te. tar Auttralinn, Januaiy-lebnuyy sliipmoiit; 355. has been paid for pureels No-venibcr-Deceraber-Januiiry-Febraary filliproent. Thtrt is a mat*. d«nM.<l lor Australian on spot, and prices are unchanged. Flour i« s-teady ami unelianged. Oats are firmer. La IMaf.i. Jauuary-leb-ruarv shipment., l£.«. 6d. Butter is firm, v.il.h a trood dom.iud, and arrivals are being cirared well. Uioicest Australian, tailed, 1235. to !3D t -.: im?allod, 132-., occasionally life. Nov.- Zealand m cleared acit lirin and nnohanscil. Sueav—Gcrrean beet., 88 per cent, net title" 3d lower at 16=. sd. pea- cwt., Urst u;:irl; cranulatcd f.o.b. Haraburp, Id. lov.-cr a Bradford" Tops.—Tho market ie unchanged. TliE METAL MAKKETS. Copper, forward delivery, £59 ss. per ton; electrolytic, £6U 10s. Tin, cull, .£l9if ICo. per ton. Pi"-iron, 6d. higher at <3s. per ton. Spelter, £24 17?. 6rt. per ton. ANTWEBP WOOL RALES. By Toleßrapb-l'rcss Associntion-OoßiriEht (Kec. November 24. 10.20 p.m.) The Antwerp wool sales have closed without any change on tho opening; it6J bales were offered and 2067 were eold. LOXDOS JIARKET3. iv»s--v«. and Company, Ltd., have rcVoTvcd advice'from Iheir London office, under date Xovc.ralier 22, as follows:-Tal-low Siute our last cablegram, prices nyc 6d. iier cwt. lower. Tluyers show little disposition to operate for forward delivery. QAXTEKBUKY GKAIN SI.AKKET. (By Tclceranh.—Press Association.) Chrlstchurch, November The local Brain and produce market is m an exceptionally quiet condition. There is little wheat offering, and apparently tho demand is aUo slacli. There are a few lots of oats in store being offered, and in consequence of t';o rise in Australia, throucu the recent heat waves prices are firmer. There is a considerable uuantily of catslioaf chaff uu offer, but only a local e'euiand; growers are asking 925. at country station, and are not- ibsnoi-cd to fecll [ 0 ,. ] ( .u-. Potatoes are worth only what cau lie fcot £or t.licra, tho highest lirico paid durinsj the week being 20s. at country stations.

OAXAIiU WOOLLEN CO. ■ The report of the Oamaru Woollen Fact.irv tonaiiy Ltd., for Ills year ended October "31 shows that with £1067 2s. <d., the balance brought forward, the net iiroflt for tliu year was £«27 6s. 5d and this was arrived n.t after writing £512 Bs. <<1. off'pvcniiscs and plant account, 'flic divie'end fir the year at the rate of 8 per rent absorbs £1776 12s. Ltd., the sum of W r Cil i.i to be piaccd to tile reserve fund, wiiieh will then stand at, £IC,CCO, leaving a ba'anco of £1150 13s. 11(1. to bo carried forward, flic assets of the company include premises and plant, £25,CC0; Etock-in-trade, £22.K1; bills receivable, £295; and sundry debtors, .£3861 The company appears to be doing a good steady business. Mining News ar.d Keport of Live Stock Sales will be foind <w page 13 of this issue.

, I Variolous — I ] compiled Priooi witb last wooli. £ s. a. I 25% Imperial Consols | 73 7 II I Unchanged 4 ,X.S.W.1033Jan.-Jnly. 105 0 0 I 31 ,,X.S.W.iai3..ittr.-Sop. 9D 0 (! I ■i K.S.\V.lM3Apl.-OctJ 60 S 0 ! Unc'n«« I ,. Vic. 1020 Jim. July 101 0 0 ' Uuchr.n''«T 3i Vie.12Jl-6Jan.July : la 10 Ui l T ncbin"rii ■i ..Vic.lfeO-lBJau.-Jiily 6". 10 0' rreliant'Xl o\ :.S.A. 1016Jau.July OS 0 u ! UhcW«1 a ,3.A. lil.JJan.-July h-1 10 0! Ullcllaii^.rl 1 1 .t( , l , (irJl->-'Jl,lan.-Ju|y' 10J 10 oi niich->-ip'il ai,,yrills). , l-i0Jau.-.Iiily; 07 1O 0- Unciiuii»cii 3 ..QT'Ik'-.I.MTJ.m.-July; r.", 10 (I; t-ucljnirel i ,.>./.. i:UJ Jlay-Xov. I 105 0 o ! i;Mclnn"(.,l Hi ,.X./. I'.llO.Teu.July ! Ui 0 0. Ualnrel 5 ,.X.Z. lL'l". April-Oct. ' tC It) O ' I'lich ii""l ■ii,. W.A.liHO-iO.May-Nov W 10 0 1 rnclmroil 3 ,,W.A.l!ll:.-:.>.Mai--Kov tl\ 0 0i liiiclmu"eil 3i „ Tis. IWCJan. July W 0 0j Cn Iwr'ttl 3 ,,i'as.l!h!J-10 Jan.July' v e (I u| Undianj'td