COMMERCIAL ITEMS.

Dominion, Volume 5, Issue 1297, 28 November 1911, Page 10

COMMERCIAL ITEMS.

. , ■". IXVIiSTJIEXT; SHAKKSJ... ' A sale of Csinttirbury ■ Krosen 'bat. shares at.£B s=. win thivonJy transaction recorded yestcrriny. '■ The buyini; and telling quotations wero as midor: — -. Buyers. Sellers. ' : ; £ .-•. d. £ &:d. Well. TrnM'and Loan ....7 10 !) niiriStclmrch Ga«- ..: 9 10 0 9 13 8 r Well. Gns.fnewi .:....: - 3 0 0 !i Well. Oa? (iirer.T ■.:.'. 02 10 ,0 3 3 National liifuranco ■ ■ 1 18 3 —■ \ Chrisichurch Meat Hl2 6 - ■ X.7,.-' Snipping - U«0 " Unjon Steam 2 0 0 f- Well. Woollsn (pref.) ...... •- * •'» " S ITiUurangi Coal- .'.'... - t o'o Jtailning and Co 313 0 ■ --',• • Taringiiiuntu Tolara ....:.' •- 210 0 j Ward aud Co. ■ '.. 419 0 — I ' THE KOTCKU QIIi HELDS. s Mr.' G. Kngel, the London representative of the Shell Transport, xljd Oil Coinrany, / whtVh holds the cotnrolling interest in the n Kotukii Oilfields, i= now ou the West - Coast of the South -Tiland, and, in the course of an interview with a representa- . tiic of the (frej'mouth "Star," tainted out that while the prospect;.■ at.Kotuku were -satisfactory, there was as yet nothing to " warrant a boom on the market, or any ' trafficking in the sha*. , /;. The scrip which I his company owned woiild be firmly held, / and no matter what the market pricft j would not'be parted with. The Shell Company was not a. promoting coucern, but ■ was straight out alter oil,- and to develop ! the industry if circumstances warranted. ; There .was nothing 'pecitlative about their '. intentions; they v.ou'id treat lCotuku as a business proposition pure and simple. If there was no oil, or the conditions -irore • unworkable, the company would ceasii ■ operations. If; however. 011 the othur 1 hand, circumstances were favourable there was no limit to the capital which woald be available to exploit the field aud t'evelop the industry. The Shci! Transport and Oil Company, it may be stated, is a powerful British concern, directly opposed to the Staudarc Oil Company of America. Its business lies in exploiting and marketing the oils, and mainly to this company is due the' fact that the use of oil for marine petroleum lias reached its present stage of development. The. company has undertaken thn task of develoning the Kotuku oilfield", aud has proceeded on systematic line?. Or. Wanner, one of the best expert* in tlie. world, was sent out tn report on the field, .-inr! the subsequent operations havo been based on his report'and'ad net, Thert arp very few of the Kotuku tiU rtsri'.i livallablo to the market, .nnrt ..-.3 the prospects ;u.re. regarded as fatisfantory' Hie shares at' present sta)>.u-at a high premium. If oil is prncur.iblo in paya'blo quantities.the shell Company will .ice to its full development. . . : ' ' .\OTES. According to ofßclal statistics received at thi) Boavri. of Trade, the value of the imports of merchandise into Argsntina'during the first six ' months . of 1911 was 178,862.595 pesos Fold (sboiit £35,772,5C0), as compared' with'- 11i1,960,66l sold (ahoiif. £3<,196,CJ0) in the corresponding period "of 1910. The exnorls of merchandise wero va1ued'at'197,537:329 pesos gold '(about £39. 5p7.6i.1J). as .-compared \vith',lS4,2sß/M peso* gold (about £38,3.i2,C(if1). As-regards 'imports,; it should', be remembered that the figures, arc bafed on tkt arhitary - vsluations( at the Customs, tariff pi y.-xliies..which have been the''same for Jioth periods..' Cana.da certainly makesmuch or her tim bcr industry. '.- Official ■ statisiii-s file 1910 place the Canadian . yi.'ld of "lumber, at 4,9C-C.MJ,OOO board feet, worth over £15,7J0,0t0. Of the 26 native-species of. wood cut the first nine were wift. woods, sprutic being, the most import int.,- as it furnished oim-fourth. of:the total.cut. Spruce nnd v;hito'. pine togetliel' forniud barely- on,chalf of the'l3lo cut, while in thb year previous these two -ihpecies' ma-tlc up : nearly. t!ir;;e-ftf.thi! of'the total.- This dcerease .in proportion;is due uok to,a; 'smaller pnt of the'two.'species., but to a great increase,lii t-hcainAunt-Qf Dpuslas l\r.' hemlcick, cedar, and. y.ello.w- pine, produ'jcd iu British'' Gel--umbiii.' Tlic prediction .of la=t..yea,r, that white 'njiie'. bad rsnrlj - rcajched :-it!>' innximum- yield h.is proved true, 'ns-tliu cut shoes', a falling off. of 4 "per cent':, or 4'-;,-OM.CCO feet, as' compa-ed'with' IW9. ':i ' British ' Columbia, the cut of" yellow pine h-'!S increased nearly- COO per cent, iu orio year. The. ".Shipping G:Ue!to" says consirfcrable diflipulty is being' experienced just now in sotting sufficient labour Inr the work-of loading Etoa-tners in t-he varjons London docks' I'he chief cause of this is thai there has been a great deinind for stevedores of la'e. the trade of.ths port having grown faster than tho visih!?. supply or labour. ' .Added to thjs. the improvement in the jcalo of pay dnring recent years, more especially in respect of work of .1. particularly onerous or' objectionable character, has Wudet! to makt (he meu rather inovo independent. Tney arc less inrlined, for instance, to go on working late' into the nigbt, or to work (luriug the day following a night's labour. Altogether the ciitlook at ' p'rasapt f or owners who have vessels to be dispatched by a fixed date, and have sufficient cargo to keen every hatchway busy, is somewhat disquieting. At. the South Indian Planters' Coniereu.-e at Bangalore recently reference was made to the feasibility of oultivatine indico, machinery having made .it<?\. manufacture cheap enough to compete with (he synthetic article. In connection with thif, the "Times of Ceylon" says if is. interesting to know that a, scheme for cultivating' indigo is ou fcol. in Ceylon, jn "which the moving spirit is a former indigo plants' , and expert. A syndicate has been formed, each member of which backs the. scheme to Ihe tune of Hs-iSlft, A suitable piece of land is availahle. snd thore is evwy-:ir"-spect of the eipsrimeat receiving a fsii trial. .. ' . The following particulars have been cbtained from tic Consular Tiipqrt on tb.R trade of Leccq:—This states that during the year 1910 the two leatUnc banks ot this province-the Banca -iVltnlia. and tbn Banca di X.-ipoli—discounted at their Brindisi. 1/ecce, and Tarauto brapcWes 11.852 bills, for a. total amount of £712,800. whilst during U'.e preccriing year (19C9i tbnv discpunted'ls.9s(l bills, fi.r a totn.l value of £9£0.6C0, a decrease of £'2i7.8C0. The almo'-t univen-;al mctiium of circulation for com morcial purposes fa the vaglia cambiario (bank sight draft) drawn to ' order and successively endorsed from hand to hand Of such paper during the yonr 1909 the nbovc-named hanks issued in this provincn 62.300 for a. total value of £1,660.300, and paid 53,600 for a totnl amount'of £3.H9,ff11); whilst during 19'.0 they .Issued 54,J00 lia.nl. sight drafts for a total value of £2.659 405 o.nd paid 53.4C0 for a. total .valu* of £3,805,«0. ' . ' ' . Customs duty collected at the port cf Wellington yesterday amounted to £2314 is. 3d.' . ' .'' LONDQX MABKETS. •..- • By.Teiegrapb-Prcss Association—Copyrieht ■ • London, November 26. Hemp.—The market js steady and prices unchanged. . Jiite. —Xovember-Deeember shipment, £20 ss. Cotton.—November-December, sd. per lb. Rubber, 4s. 4d. per lb. Copra.—Pri-ces irregular. South Sea, in ba.es. £24 15s. to £25. Whoafr.—An Australian cargo eold at 355. 3d. per quarter. ■ ' --THE-METAIi MARKETS. Br TelegTapb-rress ARsm-ration- Copyriehl London, November 26. Copper.—On the spot, £59; three month--, £59 15s.:' electrolytic. £61. Tin.-On the spot, £2CD 10s.; three months, £169 15s. • • ■ • Lead, £15 17s. 6d. Hai , silver, 251 d. per oz. Galvanised iron. £14 2s. 6ri. and £13 Vie. Fencing wire. £7 15s, Angle steel, £5 15*. ■ HIGH COMMISSIONER'S CABLE. The Commerce aud-Tourisls' Division of the "Department of" Agriculture, Commerce!, a-tid 'ToiiTists. has received the following cablegram from the Uigh Commissioner for Sew Zealand, dated' London Xovem■fXpte.—Quotations. unlcs: othenvise specified, arc average iuJrkßJi prices on spot.) Mutton.—The market is very firm—a email supply. Canterbury 4id., North Is- I land 4d. per lb. . . ' tiambi-Ths market i= quiet. The weather lately has been very unfavourable to the | sale of lamb. Canterbury ajd.. other thaD Canterbury 4Jd. per lb. • Beef.—There is a. better demand. *nd prices are firm: New Zealand hinds 3}d.. Sew Zealand fore; 2Jd. per lb. ' Butter.—The market is very firm. There ".T a "general, and active demand. The avenge, price for the weak for choicest New Zealand butter, is 1325. per owl.'. Australian '12Ss., Danish 1375., Siberian li-Co., Argentina liCf. . Cheese.—The market is steady with a very good demand. ..The average price for the week for .finest New Zealand cheese, per owl., is 685., Canadian 705., English Cheddar 90s. Kemp.—The. market remains firm, but a limited demand. Nciv Zealand good, fair grade, per lon, £20; New Zealand good fair'grade. £19; fair current Manila. £20, for all position?. The output from Manila, for the. week was 26,000 'bales. Kauri f.uni;—The market is business doing. Dark brown i-elected. re-r--era.pcd. £6' 10s. ■to £7 IC=.; dark brown. thrcf-f|uarter scraped, 85s. lo 905.; dark brown chips', droity. 5<H. lo '.0:-.: fefxjraped ',iale,.au)li6r, £10 to £12; threerjiia.r.tcr p\lo, scraped, £7 to £6: d.iggers,' chip?, good: 45=. to 55i.: 22?' cafes offered. ICO rasui <pld; stock, Octoher 51.'373 Cake*. ■ VBpl.'T-'Oiv.,'niirket is steady..and' 11 very stood demand. ' Trices firm it Uuel quotutioni. .■■•■":•

LONDON MAUKKTS. ■\le---rs. Dulgely and Company, Limited, have received .cabled niivit-c from their London office in regard,.to frozen meat lib follows:- , ; Ucef.—The demand i? limited and market firm. ■ Quotations:--!?™- , Zealand prime ox fore.-, 2icl."; hinds, 3W. I.ainJi.—Demand limited, with n firm mar-1-et. Sloi-k.s-are small. Quotations:—>'ow Zealand crossbred Canterbury,-hca,vy Qd-, lighted. ■- Mutton.—Marks! is firm. Quotations:Canterbury, heavy- and light, .lid.; North Island, heavy and light, 4{d. . Kor mutton and lamb, Mocks are small and market lia» an upward tendency. There is a scarcity of heavy-weights. .