COMMERCIAL ITEMS.

Dominion, Volume 5, Issue 1311, 14 December 1911, Page 8

COMMERCIAL ITEMS.

. UNITED STATES WOOIi BILL. . The chairman' of tlie Ways''''and - llcans. Committee of the' United States'.:H6use'* ; of Representatives; Mr. 0. V. Underwood," says, the.-people of the tjn itad States liay. a subsidy to . the wool ■ industry:-'.of•: at .. least £21,CM,C00 a year. -At a 'meetini: "cifi, tlib Industrial' Club, of Chicago,'ho declared the. tariff'indefensible, and criticised-President' Tait for liis -veto, of the -Wool"Bill'."- ! "--II6! went-oii lo.'show..the:.actual. tax imposed on the individual Ihroupli tko...tariff. ."An illustration," he sriill, "of the extent of tho. burden te afforded by a study.of typical article of comparatively cheap cloth, such. <13 enters tho ordinary moil's' suits, worn by tlie. Rreat masses.,of, U:b.,.'peoDlc. The article is an all-worsted fancy fabric, tlie: wholesale English price. oer; yard of-which : is 77 conts,' arid the' freight" to' 'Now .York one conl. The' compensatory duty is '44 ceiils per II)., or. 23 cents per yard.,the ad valorem duty 50 per cent, or 38 cents, per yard in addition, or 78 ner cent, of the import price.. It requires 3} yards to Make ; ft'man's suit. There arc at present 92,0C0,000 persons in the United States.'.lt is cs- ' timated one-fifth are heads: of' families ; or men, malting 18.400,000 such" suits used a yeaiv There are doubtless an equal .number of women wearing woollen, making a tb'al "of 36,E00.CC0- suits.' thfl .equivalent, - of 123,800.000 vanis of such cloth,. which with, the children's suits raaites. a itotal figure at. the small estimate of. one. suit a year, of 171,200,000 yards. The tanffi tax of 61 cents per yard, to' say. nothing of any increase in tax as it passes to the jobber, makes not less than t04.«,000 dollars paid eseh year to subsidise the wool industry of America. On the other hand, Die cn> tire duties paid the United States on a.ll imports of woollen? and worsteds in 1910 Amounted to a- total of.less than,.15,500,000, dollars for the use of the Government and •over 100,000,000 dollars subtracted;from the pockets of the poonle. Is it fair or .iust or right," he ctsUciii 'to Di&iiitfl-in tlic*o enormous taxes unduly to foster.the business of less than one-fourth of 1 per cent, of the people, and to require 993 nor rent, to staler under this enormous burden?" . . 1

NATIONAL BANK. The genera' - manager : of' the !• National Bank of New Zealand,' Limited: yesterday' received a cable message fronr London advising that the board of directors has do-, clarcd an interim dividend for -the halfyear to September.3o last, at-'the rate, of 12 per cent, per annum, which will bo pa£'J in the' Dominion on January 3. ' UNITED BUILDING SOCIETY.' • • «.■ ANNUAL MEETING.. 3lr. 11. V. P.awso'n presided at the annual meeting of the United Building Society held : in. the Chamber of Commerce last'. evening. The annual report (which hao been published! was submitted.. ■ Mr.' W. 11. ' Ataclt raised a. point to the effect that copies of the'report-notifying that there was air extraordinary vacancy 6n the directorate had not been.circulated in tinie for members, to, nominate anyone for that vacancy-' ... ... , , , ' It-was explained that the-fact had been notified by advertisement in all the papers. ■ On" the motion of Mr. -Itichards, -seconded-by-Jlr'. Alack, it wa-s decided thal-iiieih- , bcrs' .be given • a fortnight's •. notico ,of » meeting'' it which, an - extraordinary vacancy on the board of directors irae to be filled. -...-.

. The report war; adopted. . Mr. W. 11. Morrah was reappointed a director, and slr. <1. IV. Henderson was ap'pointed lo lite extraordinary vacancy, .vice ;3lr. Joint Scott, resigned. It was decided, on' the motion of 3lr. A tacit, tliat the annual remuneration for 'directors be £105 per annum until otlier- • wif3 ordered by resolution of the shure- . holders. ! Mr. B. W. Hunt was appointed auditor for tli ' shiiTcioldiirs, vicc sfr. 8. C. Leary, who (resigned the position some time ago. The auditors' remuneration was fixed at £15 15?. per aillinm each. At the conclusion' of the meeting there ■ was a ballot for £ICCO| and "No. ICO" was drawn. It represented the shares of "Messrs. ;W. U. liut-ler and,J. Smith (£SOO each),. : Customs duty collected at the. port of .Wellington 'yesterday amounted to £4528 :lVs. 2d. THE 31ETAI, .MARKETS. Or Telegraph—Press Association—Copyright . (i!ec. December 13, 0.10 a.m.) ' London, Decembor- 13. ; Copper.—On spot, .£W ?c. Cd.; ■ three months'. £61 3s; 9d.: electrolytic. £62 15s. Tin— Ou spot, £199' 10s.-;-. three months', '£169 15s. t Jjead.—£ls 12s. 6d. : . ; i SYDNEY WOOL RECORD. . ' By Telerrr.uu .l'-os? \ssivraiinn-, Coorrirhl ■ (Rec. 'December 13, 9.15 p.m.). Sydney, December 13. A quantity of greasy wool-has. been sold at 6d. a lb., a record for the season. LONDON,-PRODUCE'REPORT;.'; , The Commerce and Tourists' Division of : the Department of- Agriculture, Commerce, and Tourists has received the following cablegram from the -High Commissioner.for Now Zealand, dated London, December 12. (Note:—Quotations, unless otherwise specified, are average market prices on spot):— Eggs.—Prices are ' firm for new-laida; otherwise- the market is dull with a downward tendency; .a large supply. Per 120: -Home,-16s. -,<d. to '285.; Russian)'- 7s. 6d. to 10s.; Italian, 14s. to. 165.; Danish,. 155.: to 195.; Austrian, Bs. ' 3d. to 125.:.' Dutch, 153. 6d. to 225.; French, Mai •to 19s. t Poultry.—The market-is-quiet; but firm. Chickens:i Home,..7d: to. 9d; per:lb.; Russian. Jid. to Bid. per lb.: .ducklings. Homo, 'Id. to 85d. per lb.; Home 9d. to Is. per lb., Continental Yd.- to. :BJd. ' per lb., French Ed. to 9ad.' per lb. - ''■ Bacon.—The - market -is quiet but steady.' • There is -a fair: demand; at:.rates named below:—Sides. Irish 5Cc-. to '60s. per, cwt., Continental <:3s. .to 58s. per .cwt.,-Canadian '48s.' to 545. per cwt.: .American 48s. to 545. per owt. - . '' . ! Hams—The market' is quiet; small, business .doing-in large sizes;' smaller rises scarce. '.Irish.-,785. to lMs.. per cwt:; -English. 90s. to" 112s, per. cwt.; Canadian, 565. • to 675. per cwt.; American, 625. to 625. per CWt, -

• GRAIN-AND PRODUCE. ■ fßy.'Telegraph-Press'. Association.!.' Dunedinj.: December 13. The grain market .has'been very quiet for the last few weeks,-and will probably'remain so.•till.affeon-the holidays, as.several mills intantTclosirig down next week until after the New Year. .There is very little inquiry from'northern merchants. ... Oats: Buyers-arc not-keen'to •operate, as most of . them'hold large stocks, anil the tone of the market is cmicter. Prime millin", 3s. to 3a. . Id:'; . pood, to best, few. 2s. lCd.-to 35.; inferior and medium,?2s. ,9d. to 2s. lCd. " v . • Wheat": No* business''of 'any.importance-is. passing Good whole fowl wheat is readily sold. "QuoLations: 'Nominal -prime milling Velvet,-3s. 10d..t0:35. lid:; Tuscan, etc., 3s. 9d. to 3s. 9Jd.; best; whole, fowl wheat, 3s. 7d. to. 3s. Bid..' . . i :

. INVESTMENT.SHARES. . There were no transactions in investment' shares yesterday: The buying and selling Quotationswere as, under.:— - : ' JJuyors. Sellers. . r : . £ s. d. . .c s.d National Bank " rr ' 513: ® Equitable Building 9 15 0 . Well. Investment Oil 6 — ' Well/Trust and Loan ... 7 11 0 —•' Well. Gas. (third issue) ..' — .12 §■' 0 Well. Gas (nref. ,2s. 6d.) .. 0 3 0, 0 Oliristclnirch; Meat 14 17 6 ' ; — Heat Export-(£4) ■— 5 0 0 Meat Export (52s. 6d.) ::. — 3 0 0 Union Steam — 2 0 6 Well..Woollen (ord.) - . " 3 18 0 Tanfiiri ' Coal: ..: 1 0, 3 — LeylandO'Bricn -1. I 9' — 0. M. Banks, Ltd.- 10 0 Donaghy's Hope and Twine ■ ; —-1 .2 - 6 Golden Dav Cement; l'.-2,- 0 1 ?. '9, N.Z. Con. Dental - 1 2 3 N.Z.'Drus ... ",'9 ;3 N.Z. Paper Stills .VI .-0 0Ward and Co:, Ltd. , r-',-. -5 15 0