COMMERCIAL ITEMS.

Dominion, Volume 5, Issue 1296, 27 November 1911, Page 8

COMMERCIAL ITEMS.

INVESTMENT, SHARES. A sale of Manning and Company's shares at £3 19s. was the only transaction recorded on Saturday. The'buying and selling quotations were as under:— Buyers. Sellers. £•8.(1. £ s.d. Union Bank 60 - 0 0 — Equitable Building 9 15 (1 — Well. Gas. (prof.) 0 2 1(1 — National Insurance 1 18 3 — Christchurch Jleat 14 12 6 - Heat Export (.«)' — 5 0 0 Meat Export (525. fid.) — 3 0 0 Union Steam 2 0 6 — Well. Woollen (pret.) - 5 17 6 Manning and Co. 3 19 0 Sharland's ordinary — 14 0 Kharland's preference ... — 14 0 Taringamutu Totara —. • 2 10 0 Ward a.nd Co { 19 0 Whitcombc and Tombs ... — 613 6 LONDON" WOOL SALES. The ls,st and closing scries of London wool sales for 1911 will commence iu Coleman Street to-morrow evening, and from present indications there is little chance of any improvement in values,- on the contrary there.will be considerable satisfaction if there is no further decline. At the Antwerp wool sales, held towards the clo--e of lait week, fine wools were lower, but erossbrede were unchanged. This may prove to be the feature of the pending London soles, and it is to be hoped that crossbred wool will hold it< value

WELLINGTON WOOL SALES. The second wool sale at Wellington will be neld next week, aud it is satisfactory to know that the dispute hclween the brokers uud buyers hap been aniicablv settled At the conference held at Christc'hurch oii' November 14.it was agreed as follows:-(l) Instructions to be in brokers' hsiuds within three days of sale (i.e., morning of third any after sale). Delay on part of buvor will operate against him to the extent that he will lose interest for the time 10-t (2) Invoices on inward weight.--, hut cut bales to. be made. up to inweights, to bPKted by brokers within 48 hours of receipt of instructions. If they are la.te iu doing so, buyers may delay payment for corresponding length of time, and yet claim the five days' rebate interest. (3) Two days shall be allowed for invoices to reach buyers after being po=t-d Auckland and .\aplcr brokers to eiv» end buyers with headquarter:; in Duncdin to take, if necessary, one day's grace for instructions and payment, interest rebate to be reduced accordingly. The same shall apply, to Invorcargilt brokers, ajid buvers bavins headquarters in Auckland .(4l Buyers shall be allowed 48 hours for checking and payment of invorie--. (5) All payments to be in hands of brokers by 2 p.m. on ninth day after sale (11 a.m. when ninth day falls ou Saturday). '(o) Kcbato interest at curreut Bank rate for..best accounts to be allowed for the five djys to the. expiry of'prompl. Tho chairman of the Wool Brokers' Association to arrange with the chairman of the Buyen' Association at the beginning of each 12asdn. for the rate to prevail for tho ensump, season.

Each centre to 'na.ro the opticm or deciding, that its brokers may revert to the. H days for payment where delivery can bo given on trucks or port, etorc, or lighter, 33 in case of.Xnpier, within prompt, in which ease no interest rebate lo be allowed.' (7) When wool is ordered lor prompt shipment or paid lor before the. ninth day, no' interest rebate to be allowed. (8) Wool not lo be delivered before being paid for. (9) Delivery shall be completed by brokers within 14 days. Brokers to have, in all cases, five days for delivery after payment, except when a centre is exercising the option of accepting payment on the Mil day. and, or except as in races provided for in clause 2 hereof. An extra, two days' delivery shall be allowed on sales of over 20.GC0 bales. In the event of any broker exceeding l!i days in giving delivery, lie shall pay all Interest incurred bv fhe buyer from date of expiry of first, fourteen days, unless delay is duo to shorlac;c. of railway trucks, through the fault of 'the Hallway Department, over which broker has no control, then no penalty r.'aall accrue. Should delay in delivering he caused through strikes, and if the wool is. nut paid for, buyers ~luill have option of cancelling sale. If woo'! is paid for, the broker shall refund the amount paid, or pay interest ironi date of payment, at current haul; rate until delivery ir: complete. In the latter instance (ho :'alc is to remain a valid one. (i!!i Sundays I" be included in prompt, but holidays not to be considered part of prompt (where holidays nemr the effect may be to extend the time when payment shall he made, or delivery, completed.'. ill) The;o terms to applv only to f«l ■ for immediate ejpoi't. rondt'.ions for local buyers, ur wool bought [or. niiajpulation^

In re-Hi«in us beliirc, inmt'U. pavmi'iil >>n deliwiw. "l iiJH linn- iiillini II ilin,, ~i payment within M day.-, whi'lher ili-limtv ha;, been 1:,!,,.,, ,„• „„i. Il3i i'.ii.Vff.-s -Urill not r>'i|ii:re brnlti-iv In re-number Itiles. uinl lirnl,i is will nmli-r----laki' lo eit.uiv llkil ..rigimil briml;, .iml IMllnlHilV ..h:.|| l„. m .„l.- „„l \r-,- lltlll Oil! lMlers. and lljrurcs. in indelible int. and in nidi a. milliner ti-, will ri.;i..,inablv inrrv the bales In their ile-liiiaiion. I'U.vrOMH. Ciislnnis riivfllllf rrdlcctcil nl Hie p,,rl of JUlLniit'iii on Sritunlaj nmuuiiled to .f.U,38 If.-. 61.. !ho rdlci-lir.il fm- lb,- «■. rk luin-.'-10.17:- 4>. '|'!i,. rrtiirnr. Inr eaih ~f I|i7. pa.-t eii.'lil wr,.iis. as cnmpari'd with ilw ligures for Ihe rorreMimiding pcrlmls <>r la.-1 year, show a-, under: Wll. Uin. .('. x. I'r-lt.lier 7 15.117 i11,.M8 ivinher 14 ri.i;a ifi 711 Oetoliee '.I 9,. : ,« d 2UXK October "8 21.757 'ifiii November 1 TV.552 ?V.\,l November It 15,f51 (i.;Bi 13 2!,5°2 17 ';ih Aovemher 25 16,)7f, ulgj; 130.911 123.M8 The beer tlulv collected during the past week amounted to £2f-S 13s. 3d.. ;is .igain=t .£299 16s. in the cirrespouding week ~[ brt yea r. N.Z. LOAN & MERCANTILE COUEOKGAXISATIOX OF CAI'ITAL. Bj Telegraph—Press As;oeiatlon-Copyrtjhl London, November 24. The report of the Xcw /.ralanrl I,oan and Mercantile Agency Company, Ltd.. shows that £".O.CCO was added lo prcmi'o« account. £5C0() to Ihe .stair benevolent fund £6G,C00 to the reserve fund. £50,000 to rap-, tal reserve, Icavinc :< profit of £20,052. After paying a. dividend nl' seven and a. halt per cent., and an additional two and a. half, per cent, on third debenture stock, £292 has been carried forward. A.scheme for reorganisation of the e.ipital of the company will be submitted cajly in 1912. FROZEN MEAT. By Telegraph-Press As-wciation-OoDyricti! (Rcc. November 25, 5.5 p.m.) London, November 25. The Frozen Meat Trade Association's Smithfield market quotations for the undermentioned classes of frozen meat are haserl on actual sales of not less than one hundred'carcasses of mutton or lamb,-or twenty-five: qua iters of beef of fair average quality. .The quotations are not selected lines, but, for parcels fairly representative of tho bulk of the shipments now on ,thc market. Tho prices which follow are on an average a fanning per lb. more than the value cs ship, this'difforenc representing an average cost, in expenses, handling, conveyance, and selling the meat:—

Nor. 18. Nov. 25. Mutton— il. it. Canterbury, light 6} 43 Canterbury, medium ... 4ii f,i Canterbury, heavy — _ Southland 4 3-16 13-16 North Island, best ; 4 i-16 13-16 North Island, ordinary... 4 4 Australian, light 34 • jj Australian, heavy ..,„. 3 3-16 3 5-16 River Plato, light i\ 33 River Plate, heavy 31 31 Xciv Zealand ewes 31 37-16 Australian, ewes 3 3J River Plate, ewes 3$ 33 LambCanterbury, light 5!, 5} Canterbury, medium ... 5J . 51 Canterbury, heavy 4? ' .- 41 ■Southland 4J . 43 _ North Island, selected... 4j 44 North Island, ordinary 4ii 43 Australian, best :...:„.. 41 4j Australian, fair 4,; 4^ Australian, inferior 4J 4 River Plate, first ......... — 41 River Plate, second — 4 BeefNew Zealand, ox fores ...' 2| 23 New.Zealand, ox hinds... 3J. s\ Australian, ox fores ...:., 23 .''s Australian, ox hinds ' 31-16 ii River .'Plate, ox f0re5......' 2| 2i River Plate, ox hinds ... -31 it 'River Plate, chilled, fores 1i 2,1 River Plate, chilled hinds 3| 3] Rabbits axe quiet and unchanged. SILVER. lij Telezraph-l'rcss Association-Copyrtgh! London, November 24. Bar silver is quoted •at 25Jd. per oz standard. KAURI GUM. By Telegraph-Press Assotiation-Copyrisht London, November 24. .At the'kauri gum sales 222 cases were offered and ICO told. Prices were . unchanged.

LONDON MARKETS. Tto New Zealand Loan and Mercantile Agency Company. Limited, have received the following cablegram from their ton-' don house, under date 2<ith instant:— . Frozen Meat—The- market is firmer for mutton, and there is more inquiry for Inmb. The market is slightly ■ improved for beef (sides). • -■ • • • • SOUTHERN- PRODUCE MARKETS." ' ' (By 'PelcsraDh.-Press Association.! Oamaru, November 26. Dullness reigns in the wheat maricet, and little or no business is doing/the market price is 3s. 6d.; oats are firmer, in sympathy, with the rise in price in the south. There has been an advance of 2d on last.week's prices, and the quotation is now js. 2d. for good feed:-chad', is firm at to £1 10s.; potatoes are now a, dead letter, as there is practically no buving or selling; butter is in plentiful supply at 9d. for separator, and BiL for dairyeggs arc plentiful at Bd. per dozen. FKOZEX MEAT TRADE. (By Telegraph—Press Association.) Ciokorne, November 25. Among cablegrams received recently was one to the effect that the' Port. Authority for London, with the view of meeting the wishes of exporters in 3cw Zealand, as representations had been made, had decided to enlarge the scheme for reconstruction of the south-west India dock?, and render it accessible to vessels of six hundred and fifty feet in length, h:.( before the construction of such costly depots and railway cijnipineni, the Authority would require to be satisfied as to the transfer of the meat trade to this dock being acceptable to all concerned.

When Mr. \V. \). Lysnar. ex-Mayor of Gisborue, was at Home, he. strongly urged thai Ihc docks in question should' be enlarged. If Kciv Zealand boats could unload at the south-west India dm-ks it would mean that cargoes would be lauded ten miles further up the Thames than was possible at the present time; lu- was satisfied, in Jiisj own mind that opposition to the scheme which came from levied interests would be completely brok"n down. The Chairman of the Port of London had promised him that something would be done, if New Zealand gave reasonable assurance that the new docks would bo used, the proposal as. 'was we'll known, had been approved from cud to enu of the Dominion. As far as he rould see however, the Authorities wished to defer the matter for four or five war* as tney considered other, works we're more, urgent, and they bad a.pproved of the scheme, and all that was wanted was for a start. t.n. be mode. "I claim.' savs Mr LTsnar, ' that there is uo morn important work than the. one in question ,ve can show, and the work is certain 'o l-o commenced at no distant date. Mr. Shelton has already put all facts ocfore thu Authorities. What he is waiting lor i* for a written assurance, to be given, that work will, be proceeded with at ,nie p ■ There is. also a. probability that Australia, inay wish to use the. new docks, n hat lia.s been requested is three berths' for New.Zealand ships. There will, hew', ever, bo room'for. five ships on one side of the pier, and if necessary five ni.ir*' could be put on the other side. -The whole-of this work.", added Mr. Lvsnar' "is of vital importance, it affects "evervhody in the Dominion, whether thr-v ar« producers or not. Tn fad, it, ;.-„uld mean the saving of millions to this e, uii-