COMMERCIAL ITEMS.

Dominion, Volume 5, Issue 1309, 12 December 1911, Page 8

COMMERCIAL ITEMS.

INVESTMENT SHARES. A sale of Kaiapoi Woollen preference shares at £5 7s. 6d\ was the only tranfaZ tion recorded in investment shares yes-

LOSDOX WOOL SALES.

The London wool sales of 1911 are now over, and--the December faJes, which terminated last week, raise hopes of further improvement during the coming' vcar There, was a general advance of from 5-to 7J per cent.-, excdi/tior certain descriptions of crossbreds suitable for the American market, wluch were 10 to 15 per cent higher. It ti wonderful what a great difference American buying makss." At the sales, just closed, out of 128.C00 bales that were available.-the Americans bought «C 0 bales, or a little more than 3 per cent but this was sufßcient. to abnonnollv ad.vanco prices. Of course, when the Americans are out after 'a' line of wool, price does not deter them.. At the same time there is just a probability, that the Amtv ricans are forced into paying higher prices by the tactics of British and Continental buyers. While the Americans pay high prices for thoir wools, their chances of competing 'in ; foreign markets in finished products, are eitremely small, and even in their.own.domestic markets, they can be beaten-by British manufacturers

'INTEEESTING' LEGAL POIXT. : -A,legal point which is of considerable importance to investors has been raised by-tho South ■ Australian Commissioner of Taxes, who recently put in a claim on the Bank of Adelaide for income tax at the .rate of.ls. l{d. in thc.£l on £50,000, that amount representing a'gain-by the bank on tho issue 6f 25,000 new shares at a premium of £2 each, . last year. The premiums, however, were added to the reeorves. and it is contended, were really In the nature of working capital. A magisterial decision'on the question has been given in favour-of the commissioner, but against the decision of the lower Court the bank is appealing.

Customs "duty collected at the port of Wellington yesterday amounted to £2063. LONDON WOOL SALES. Bt TelezraDh—Press Aseoci-at'on—Cooirizhl London, December 10. - At tho wool sales the following prices were realised:—"Ara-uni," tou price 9Jd., avona-ge 93d.; "Glangajy," top price Hid., average lOjd. For .tho January-March series the offerings will not be limited. <

The Commerce aud Tourists' Division of the Department of Agriculture, Commerce and Tourists has received the following cablegram from the High Commissioner for New Zealand, dated December 9, regarding the closing of the sixth series of tho colonial wool sales:—"The wool sales have closed with a strong market for all qualities. Super merinos, Is. to Is. ljd. per lb.; medium, lOd. to Hid.; inferior. Bd. to 9W.; fine crossbreds (all grades), lHd; to 15..1 id.; medium, Bid. to lid.; coarse, 7Jd. to lOid.

Jfassrs. Hurray, Roberts and Co., Ltd., havo received the following market cablegram from their London house. Messrs. Sanderson, Hurray and Co:. Ltd.. dated December 9:—"Compared with tiiir last cablegram, market shows no material oliange. Compared with last London sales, closing rates greasy merino market shov.-s no material shange: Ecourcd ■ merino.'good to extra good, par to 5 per cent, advance; icourcd merino, medium, advanced 5 ner cent.; crossbred, greasy, medium to fine, advanced 5 per cent, to 7$ per cent.; cru;sbred, greney, coarse, par to 5 per cent, advance; crossbred, scopred, advanced 7»d. per cent.; slipe. medium, to fine crosebred.'advanced'7>i per cent.; slipe, coarse crossbred, advanced 5 nor cent.; scoured merino, faulty and inferior, opening rates aro barely maintained."

Tiio Xcw Zealand I.ryiii and Mercantile Aguncr Company, Limited, hnvq received the following; cablegram from their London house under date Bocomber 9, regarding the close oE the. sixth series of Jbondun wool Kiloa.—"Dnrinit Ihe terios. 119.000 bale? of wool were eold. of which H.COO were tp&ea ba tic Continent, and .4000 fox

America; IO.CCO Ixilcs were held over. The fabr closed slronir. A* roiiifinrcil wiih J:ist falo's rlo!iiii!» vales, tiriri:-. uro higher by ;U>out 5 fH , ! - ecu;, to Vi pev i.or.t. for fine twjUTcd <:rof.:ibri!il. M-ouruil merino medium, and line gruati-.crosslircd.

JFcssrs. Dalprty and C-umpany. Li;nitcd, liOiuluu, have - (.üblvd their Wellineton of-Ik-c, nuclei- elate December D us f6tlowr, ; — "Wool Ki.lcs lira. As compared with prices rulinir at the- dose-of Septerabcr seriej, .scoured wools are par to 5 per cent, higher; scoured merino wools, medium and s,-<x>d qualities, 5 t<. 75 per cent, higher; scoured merino, inferior and faulty; 5 per cent, higher. Greasy Huper meriuo iiiichaiiKt'<i; greasy merino, medium and good tiuclities, 5 per cent, liigiier: greasy merino, heavy earthy and w.my, unchanged; creasy merino lambs, short and faulty, unchanged; greasy merino lambs, other desmptious, o per cent, higher;, c.rosdbreds, fme medium oualiticj, and those suitabJc for America, 10 to 15 per cent, higher; other descriptions, 5 per cent., higher; slijiod crossbreds, scoured, 5 per cent, higher; crossbred lambs. 5 per cent, higher; total net quantity available amounted to IZB,KO hales, and was rtis-pof-ed of n.s under:—Sold to America, 4000 bale?; sold for Home consumption, 60.CC0 bales; sold to Continent. M.CCO bales; not offered, 6000 balei; carried forward, -10CO bakr,; ,.

IiOXDON MABKETS.. By Tsleeraph—J'ress A.wociatien— Copyright London, December 10. Copper.—On -the spot, £58 18s. 9d.; three months', £59 13s. 9d.; electrolytic, £61 2s. 6d. ■ American stocks, lll,7Bs,CC<ilb.

Copra.—Market flat. South Sea, in bags, £23 ,12s. 6d. . Kauri.—Stock, 371 cases. Cottou:—December-January shipment, 4.Md per lb. dull. November-January, £20. . Jute.—December-January, £19 sa. Kubbcr, 4s. 5Jd. per lb.

.VTHEAT AND FLOUK. By Tolcgraph—Press Association—Copyright London, December 10. The wheat and fioiir afioat for the United Kingdom totals 2,Z85,CC0 quarters; for the Continent, 1,2£0,C00 quarters; Atlantic shipments, .251.CC0 quarters; Pacific shipment, 15,000 quarters. The total quantity shipped to Europe during the week amounted to 1,125,00 quarters,'including 25.CC0' from Argentina, 3UU,OCfI from 161,000 from tho Danubitiu provinces, 121.01A1 from India, and 97,H!0 from Australasia.

HIGH COiIMISSIOXEE'S KEPOET, The Commerce and Tourists' Division of tho Department of Agriculture, Commerce and Tourists has received tho following cablegram from tho High Commissioner for Kew Zealand, dated London, December 9. (Kote: Quotations, unleei otherwise specified,- are averago market prices en spot):— Mutton.—There has been no alteration in the market since last week. Canterbury, 42d.; N'orth Island, 4|d. -per lb. ■ Lamb.—The market is quiet, Australian supplies arc increasing, but of mixed quality. Australian, 4M. to 4Jd. per lb.

Beef.—The market is cmiet, but firm. Stocks of New Zealand beef on hand are light. New Zealand hinde, -3Jd.; New Zealand fore?, 2jd. per lb. ' Pork.—The market is dull, with a downward tendency; average price, 4Jd. per lb. Butter.—The market remains firm. Buyers are cautious. Tlio average price for the week* for choicest Xew Zealand butter is per cwt.. 1325.; Australian. 1275.; Danish, 1385.; Siberian, 1255.; Argentina. 128s. Cheese.—The market is i/uiet, with no alteration in prices. New Zealand, 68s. to 695. per'cwt. Hemp.—The market is very quiet. New Zealand, good fair spot, per ton, £19 10s.; New Zealand, fair grade, spot, per ton, £19; fair current Manila, spot, per ton, £23; December to February New Zenlaad, good fair grade, per ton, £20; New Zealand, fair grade, per ton £19; fair current Manila, £20 lCs. The output from Manila for tho week wae 26.0C0 bales.

AUSTKALIAN PRODUCE JIABKETS. - By Teleeraph—Prcs» A esociatleii -Oouyriuii* (Kec. December 11, 11.25- p.m.) ■ , Sydney, December 11. ' Wheat is hardening, and there aro inquiries at an advance of three farthings. Bran has cased ten shillings a ton.

' TJNIOS STEAJI SHIP COMPANY. ANNUAL MEETING. •IB? TelecraDh.- Tics? is^oclfLtlon.) Duncdin, December 11. At the annuaj meeting of the (JiHon Steain Ship Company to-day, a dividend was declared of 9jd. per share for the six months ended September, making, with the interim dividend paid in May last, a total, dividend.of Is. 7d. per share for the twelve mouths covered hy tho ' balancesheet. A bonus of 2Jd. per ehare was declared, to be paid out of the insurance fund. OAMAEU WOOLLEN. > IBy TeleeraDb.-Press Association.] Oamaru, December 11. The annual meeting of the Oamaru Woollen Factory Company wan held to-day. The report recommends a.. dividend of 4 per cent, for the half year, making 8 per cent, for the year. This absorbs the sum of £1776 12s. 10d.; £1500 is placed to reserve, which stands at £10,0 CO, and £1150 13s. 11(1. is. carried forward. The chairman, in moving tho adoption of the report, said tho company had to compete against large importations of foreign manufactures,.,made by cheaper labour and with longer hours of work, and bespoke loyalty to their own company. The report was adopted.

Buyers. Sellers Kmiitable Buildine £$'$' £ i' d i£ D H" ,}J ,ras ' D 'ent Oil 6 0 12 0 well. Trust and Loan ... 7 U 0 — )T. el i- Deposit 0 5 0 0 8 0 Christchiirch Oas 9 10 0 _ Palmorston Gas 9 10 0 — Well. Gas (£10) :.:. 18 7 6 -T ■ J\ell. Gas (prof.) 0 3 0 0 3 6 South British Insurance - 3 10' n Ohristchuroh Meat : 14 17 6 _ Meat Export (52s. 6d.) ... - 3 n n Union Steam , _ % ", u „ iWell. Woollen (ord.) - ? 1fl ?, Well. Woollen (prof.) _ 3 1S n S Taupiri Coal 10 3 _ Westport .Coal 170 170 Leylnnd-O'Bricn 18 9 .0. M. Banks. Ltd _ , 7 „ Golden Bar Cement 12 0. 1 9 1 ManninR and Co 4 5 0 _. N.Z. Consolidated Dental — 1 2 q j!# Drug ....; 200 _ £/'• Parar Mills 10 0 Shnrland'B ordinary - 1 a 0 Ward and Co 5 7 6