COMMERCIAL ITEMS.

Dominion, Volume 5, Issue 1332, 9 January 1912, Page 8

COMMERCIAL ITEMS.

IXVBSTJIEXT SHARES. There were no transactions _in investment shams yesterday, which is not surprising. The WolliiiKton brokers are more or less ardent fishermen, and all that One coulU gather from them was how they played this iieh and that one. It was the boast of one broker'that he hauled 'in the limit. This- was the chief topic of conversation, and business was not token scriouslv. It will probably take a whole week to get settled, and if the weather holds good n. week will be scarcely sufllciejtit, for rods, and creels, nnd flies, and reels will still be more attractive to the fishermen. Fishing for trout is no doubt an appropriate pastime for a broker, for it teaches him to be methodical, consistent, persevering, and patient when fishing for business. The buying and Felling quotations Tecorded yesterday were as under:—

niGH COMMISSIONER'S CABLEGRAM. The Commerce and Tourists Division \>£ the Department of Agriculture, Commerce, and Tourists has received tlv) following cablegram from the High Commissioner for New Zealand, dated London, January 6, 1912:— (Note.—Quotations, unless otherwise specified, ars average market pricce un spot.) Mutton.—The mutton market is firm. New Zealand stocks of mutton on hand are light, and are. firmly held in few honds. In anticipation of small arrivals quotations arc nominal. Canterbury -lid., North Island W. per lb. ' Lamb.—Tlie- market is quiet. A small number of New Zealand lambs has ar-rivcd-iivcrane 6Jd. Australian, a: large supply, 4Jd. Argentine, plentiful, 4id. per lb. Beef.—The market ie firm, with an improved demand. Stocks of Mew Zealand fcef on hand arc HbM: qnotntions tiro 'nominal. New Zealand hinds, 3cd.; New Zealand fores, 2Jd. per 11). butter.—The market is very firm. There is a general and active demand. Market is afl'-.Tted by expectation of light arrival-. Tiieri' i-j n general confidence in tbe inaiiilcnaiK'i! of present price?. Tho nveraite price for the W2ck for clioic?est New Zealand butter is. per cv.t.. 134?.; Australian, lols.: Argentine, Danish, 137?.; Siberiau, 1235. Clice-;e.—The iimrknt is very linn. Th»r; is n good ilKiniiiid. The average price for the week for lliie=t New Zealand eliccsc is 735, per cwt.

Hemp.—The market, is film, with more imiuiry—rallicr iiiora active. Sew Zenlaml good fair, spot, per ton. .£2l 55.; Xew Zealand, fair prnde, ,£2O 10.-., nil position,--; fair current .Manila. £21 Its.; forward shipment, £22 ss. The output from Manila for the week was 25,000 bales. Stock of Moiv Zealand, 508 tons.— Wool.—The market remains firm. Cii.«tom3 duty collected at the port of Wellington yesterday amounted to £3054 19s 5(1. WHEAT SUPPLY AND DKMAXD. "Mr. George Broomhall, the Liverpool grain expert,, in November last prepared the following tables of prospective wheat, supply ami demand during the cereal year ended July 31, 1912. With regard to the requirements of the importing countries,' he saye that France is somewhat of an unknown nuantity. The estimate of prospective requirements is «s follows:— Actual net Estimate.-. imports. Season 1911-12 Season 1910-11

11 r. Broomhall considers that in the above forecasts there does not seem to be room for very wide error, though France and Germany might each require one or two million quarters more than the figures given above, so that the world's total requirements might easily amount to 65.1C0.000 quartern, or even 70.000.tt0 quarters, though this would seem to be the very outside. With regard to the prospective supnly, the most doubtful surplus). , ; are the "Argentine and Russian. Argentina has already shipped during this British cereal year 1,713,000 quarters of old crop, and this total by the end of December will be raised to 2,000.000 quarters. In January the shipments of new. crop will commence, and there is possibility of error in any estimate covering this ground, for during the past, four years the shipments of wheat and flour reached in 1908 the high total of HBCO.OOO quarters, while in 1910 the amount was as low as 6,730.010 quarters. The big shipment «» made from the record crop of 1907. and yet in that year the area under wheat in Argentina was 2.000,000 acres less* than at present. Talcing everything into consideration and allowing for the greater holding power of growers, owing to the establishment of a futures market, Jlr. Broomhall thinks an estimate of l<l million quarters a« the possible exportation for the seven months in pne-tion would not appear unreasonable. This, with.the two millions to the end. of December, would give a, total of 16 millions for the British cereal year, or practically the same quantity as was shipped in the British cerea! year 1907-8. With regard to the quantity to be exported by Jtussia, it in also difficult to make any real estimate. As a rule, the first three or four months' shipments are a fairly good index ns to what the whole season's output will amount to. Usually the heaviest ■ export movement occurs in the first half of the season', but there have been exceptions; so far this season only 3.500.000 quarters! have been shipped in 16 weeks, indicating a. maximum twelve months' shipment of round about 12 million quarters. In the past two seasons thrcc-Hftltts of the total shipment of the season took place in the first half, and on such a basis the total this season should not amount to more than,about 10.CC0.000 quarters. Accepting these indications for Itussia and -the Argentine. Mr. Broomhall makes the following sstimatc of the exports from the principal growing countries:— Prospective Actual

Total 68,000,000 82,590,0C0 Mr. Broomhair says it will be noticed that the balance of prospective demand and supply is fairly close, but there is more tliau one very uncertain item on each side of the account, so that for the present the future of the international market remains as doubtful as ever. ARGENTINE SHIPMENTS. Tho Commerce and Tourists Division of the Department of Agriculture, Commerce and Tourists has received tho following cablegram from Buenos Ayrcs, dated January 6:— "The following shipments of produce were dispatched from the Amentins to the United' Kingdom ports during December, 1911 (compared with Decsmber, 1910):— 1911. 1910. Frozen beef, quarters 101,000 57,319 Chilled beef, quarters 166.0C0 15W85 Frozen mutton, carcasses ... 195,f00 150,251 Frozen lamb, carcasses '122.000 95.661 Butter, cwt 11,393 5,340 LONDON MARKETS. By Telegraph—Press Association—Copyright London, January 7. Wheat—Two cargoes of Australian sold at 000. 4id. and 365. 9d. respectively, and a. cargo of 14.0C0 quarters (January .shipment) at 365. 7Jd. Hemp is rmiut. January and March shipments, £21 ss. Cotton.—January-February shipments, 4.045 d. per lb. Jute.—January-February shipment, £1 2s. 6d. Rubber, 4s. 41d. per lb. Kauri Gum stocks—3Bl tons. Antimony is quoted at £7, and quicksilver at JEB. FROZEN MEAT. . London, January 8. The Frozen Meat Trade Association's Sinitlilield market quotations for the' undermentioned classes of frozen meat are based on actual sales of not less than oho hundred carcasses of mutton or lamb, or tweuty-iive quarters of beef of fair averago quality. The quotations are not selcctod lines, but for parcels fairly representa-. tive of tho bulk of the shipments now on the market. The prices which follow are on an average a farthing per lb. more than the value ex ship, this difference representing an average coet in expenses, handling, conveyance, and Eolling the meat:— Dec. 30. Jan. 6. Mutton- d. d.

BABBITS AND HARES. Eabbits.— Market nuiet. Best Sydney, in store', 16k. Holders are firm, with a view to small prospective arrivals. There is no demand for harts. STOCK EXOHAXGE. OJy Teleeraph-Press Association.) Auckland, January 8. I The following business was done at the 3.15 p.m. call:— Occidental Consolidated, Is. 3d. Waiotahi, ss. 4d. Waihl, £2 155., £2 14s. 6d. Waihi Grand Junction, £1 9a; 3d., £1 9s. 3d. ComstocU, Id. Auckland Gas (old), £3 7b. 9<t. Tonson Garlkk Co., £1. Dunedin, January 8. The foliowinc sale was reported on the Stock Exchanpa to-day:— New Zealand Insurance, £4 lie. The following are the Stock Exchange quotations:— SredßitiK stocks: lilackwaler, buyers, 75.; Electric, sellers, 55.: Golden Bed, (-rollers, Us-.: Hartley nnd liiley. sellers 145. ; Island lilocli, :i?]len.-, <!.-•. 6(1.; Koputai, sellers 135.; Lady Roxburgh, buyeiv Is.' ltisc and Shine, buyers .£1 5?.; liisinff Sun, sellers X 2; Sailor's"Dend. buyers 3s. Minins stocks: Consolidated Goldneld;, tellers 18s/: Kuraniii Caledonian, sellers Is. Hd.; Kc-.v Sylvia, sellors Is. Bd.: Old 'llaur.TlU. wHcps 25.: Talisman Con-olidat-cil, buyers .£2 Bh. 3d., sellers £2 9s. 6d.' V.'oilii, buyers X 2 145., tellers CZ 16?.; Wailii r.ranil .Junction, buyers £1 95.. yellcr« £1 9s. 6d.; Waiotahi. buyers 5.-. 2d., sellers ss. 6d. Investment stocks: Natioiinl Itank 'ax div.'., >ellere £5 \h,; Union Dank, sellers £65; National Insurance, scllcrs £1 195.-

New Zealand Insurance, buyers SA 11s.; South British Insurance, sellers £3 9s. 6(1.; Standard In-uramc. sellers £1 lit. 6d.: \:nv Zealand Shipping ■ Company, sellers £16: Union S.S. Co.. sellers .€2; Westport Coal Co., sellers .£1 7s. 9d.; Dunedin Stock Exchange Proprietary, buyers £3 I<K; 1).1.C. lprcf.l. buyers £1 2s. 9d.; Dominion Ituhber. buyers fe. 6d. (pr.i. sellers Ms. 6d. ipr.); Jlilburu Lime and Cement, (£li, sellers £2; Kuipiro Buildings, buyers £1 3s. (id.; Mosgiel Woollen Factory, sellers £3 95.; New Zealand Drug Co. (£2). buyers £2 Bs. 9rt.; New Zealand Paper Mills,'buyers £1: New Zealand Portland Cement, liuvers £1 Us.; "Otago Daily Times," buvers £21 ?.=.: Donagliy's Hope and Twine, sellers £1 2s. 6d.; Wright, Stephenson, buyers AUCKLAND WOOL SALE. (By Telegraph—Press Association.) Auckland, January 8. Altogether 6672 bates of wool will be offered at the second sale of the season on Wednesday. The quantity is less by 15110 bales than at the corresponding sale last year, due to the wet season.

Buyers. Sellers £ s. (I. & s. d Bnnk Now Zealand - 11 15 0 N.Z. ami Hiver Plate - 2-10 Well. Trust ami Loan ... 7 11 6 — Ktosdard ilnsnrance - J 13 6 Ohristirhurcli Meat - 15 Is 0 Meat Export (£4) - 5 5 0 Meat Kxport (52s. 6d.) ... — 3 0 (I XZ. Powell Wood Process — .18 6 0. M. HiinUs. Uil. — 10 0 Golden Day Cement 12 3 SUarland's Pvelereiice .... — 14 6 Ward and Co. - 5 12 6

Quarter?. Quarters. IT. Kingdom 26,0Cli,0CO 26.10O,CfO Prance 3.000.CCO 11.050.CC0 li-ldum 6.QG0.0CO . 7,CQE.CC0 Holland 2,CC0,CCn 2.5C0.CG0 Germany 9.CB0.CCO 8,700,CC0 Italy 4.0CC.CCO 7.4C0.CC0 Spain 260,000 850,000 Portugal £0,K0 50,000 Greece 900,000 1,250,000 Denmark 550.0CO 570,000 Sweden 90O.CO0 GEu.OOO Norway €0,000 100,000 Switzerland 2,2C0,C00 2,200,OCO Austria-Hungary 503,000 300,000 Ex-European countries 10,000,000 9,600,000 Total 65,750,000 7e,300,CCO

Season 1911-12 Season 1910-11 irorn— Quarters. Quarters. TJ.S.A 11,000,000 9,000.000 Canada 10,000,000 7.8C0.O00 Kussia 10.000,000 27,970,000 .Un.lkaii States 8,000.000 10,900,000 India, 6,000,000 6,920,000 Argentina 16,000,000 ll,60O,CC0 Australasia 6,000.000 7.460000 Sundry countries... 1,000,000 940 000

. Canterbury, light 4Jj ; Canterbury, medium 4| » — Canterbury, heavy 4j| — Southland , 4J 4i North Island, best 4J North Island, ordinary . 4 Australian, light 3.1 3r] Australian, heavy 3! 35 Hivir Plate, light 3J ■ 3fi Eiver Plate, heavy 3H 3J Xew Zealand ewes 3B 33 Australian ewes — 3^ Biver Plato ewes 3J 3i liombCanterbury, light 5J — Canterbury, medium 5|j — Canterbury, heavy i'a — Southland A7, — Xorth Island, selected ... 4j _ Xorth Island, ordinary ... 4;; Australian, best ■if ih Australian, fair :... U jjjj Australian, inferior A 4 Itiver l'late, first ...' 43 4jj Biver Plate, second' '.. 4J <\ Beefs New Zealand, ox fores ... 27 22 iS'ew Zealand, ox hinds ... 33 33 Australian, ox fores .... 23 23 Australian, or hinds 3f. 3S River l'late, ox fores .... 23 21 Biver Plate, ox hinds .... 3I\ 33 liivjr Plate, ehilled fores 23 22 Hiver Plate, chilled hiuds 4J 4\