COMMERCIAL ITEMS.

Dominion, Volume 5, Issue 1340, 18 January 1912, Page 8

COMMERCIAL ITEMS.

I.VVESTJiEJJT SHARKS. There were iio transactions in invest- , ment shares yesterday. The buving and scllins quotations were as under,— Buyer?. 1 fellers. £s. d. £ s. [I. Bank N.S.W :.. 44 10 0. - Dank of Xew Zealand ... — 11 10 0 Equitable Buildinc 10 5 0 •Well. Trust and Loan... 7 14 0 Cltristclmreh Gas 9 10 0 9 14 0 Gishornc Gas — 3 0 0 Well, Gas (£10) IS 10 0 - Well, Gas (third issue) ... It 10 0 - Well. Gas Inrcf.) 0 5 6 _ Christrhurch Meat 15 10 0 16 0 0 Meat Export (525. 6d.) — 3 0 0 X.Z. Shipping - IT 0 0 Well. Woollen (ortl.) - j 18 n Well. Woollen fprcf.) 2 16 0 3 16 Jiikurangi Coal 0 19 0 Wcstport Coal 16 9 _ ' Taupiri CoaJ 110 _ Lcvland-O'Hrirn 18 9 , C. 'jl. Banks. Ltd -10 0 Don-ifihy Hope and Twine — 1 2 6 Golden Bay Cement 13 0 — Manning and Co -- 4 12 n X.Z. Con. .Dental - 1 Z 6 Kharland's preferencs — 14 6 Ward and Co - 5 10 0 WELLINGTON' TRUST AXD LOAN. The annual report of the directors of the Wellington, Trust. Loan, and Investment Co., to be presented at the annual meeting on February 1, states that the sum (o the. credit of profit and loss, £12.084 14s. 10d., together with £1735 10.=. B<i. hroiislit forward from the previous year, amounts to £13,620 ss. 6d., from which £4050 lias already been paid a.s an interim dividend. The directors recommend that ,£3CCO lie added to the reserve fund, nmkinjr it £52,000, and that a further dividend of ,£<Oso should be paid, making 8 per cent, for tho vear. leaving £2720 ss. 6d., which, after writing down £876 lis. Bd. on I he comnam's freehold property, gives £1843 13s. li)d. to be carried forward. LOXDOX WOOL SAM*. The fir=t of the series of London wool sales for the current year commenced in Coleman Street on Tuesday evening, and the reports received by cablegram by Uic various local brokers ajree that crossbred* wools were .firmer, most description* showing mi advance or 5 per cent. This will be cood news for local woolEtoT.ca. and rq acolicnt tiiinc lor Sew,!.

Zealand, because unite one-sixth of the total available for the present series is r from tin! Dominion, a nil an average gam of 5 per lent., would mean nit additional £27,000. LAND SALE. At the auction sale of the flat portion of the Jlantotara. Estate, conducted by Mows. Murray, Roberts and Co., Ltd., •« Martinboronyh, on Tuesday last, cloven xcctions we/c offered, and seven disposed of at satisfactory prices. These were the snips :—ICO acres, at £9 10s. an acre, to Mr. 1(. !v. Wall, of Dannevirke; ItO acres. HO acres, and 193 acres, at £9. £8 10s. and A.I 15s. respectively, to Messrs. Feast Bros., of Grcvtown; 130 acres and 130 acres (two sections), at £9 and £8 respectively, to Mr0. 11. Larkin, of Wavctiey; 242 j'rres. " l £7. to M.r. Ernest Boyd, of llawke s llaj, with whom wan associated in the lnirclr.isc, Mrs. Nincwa, of the Wairarapa. 'J here i*. we unriersland, imiuiry or .Messrs. jiuiray, lioborts and Co., Mil,, for the remaining sections. PAPER FROM BLUE-GUM. A project is on foot for the manufacture of' paper from Australian timber, so the "Journal of Industry,' the ollk u organ of the Adelaide Chamber of Manufactures, informs ire. A representative ot .i lame financial interest in Australia lias had the blue-sum wood tested in the napci mills of Great Britain, nnd the icsult «-a= a. product said to be equal to panel made from the African esparto grass, he intention is not to make cheap, " paper, for which the blue-sum wood in. been found not to be so well adapted it better class paper, and for lhi» the blue gum is particularly suitable. lno laclory will probably he in Tasmania, and as there is an enormous supw ot m c cum all thrown Australia, there should be enough business In occupy the attention of the new mill for a lone time, it is said that £250,000 will be inverted in the. undertaking. NEW ZEALAND LOAN AND MERCANTILE. At. the annual meeting of the New Zc.v land Loan and Mercantile Agency Co.. Lid., the chairman thought it wise to call attention to some features of the busine.■■•> to which due consideration was not alwn>fi given in times of prosperity. He pointed out that (here were many elements ot uncertainly attached to such a business as was carried on by the company, his emphasised the necessity of keeping their resources at a high figure, so as to oe noic to satisfactorily cope with emergencies. In common with other--, the company aim its clients in New Zealand, Australia, and Croat Britain had suffered from strikes and general labour unrest. The cost of transport and the hanoling of produce had of necessity increased, while markets had been upset by the uncertainties attending delivery of poods and carrying out of contracts. Reference was made to the scheme of capital rearrangement, which had been occupying the alien- , tioti of the directors for many months. The question was one of great complexity, stated the chairman, and some points s.ni remained to be adjusted. On genera, principles the directors were fn accord with the representatives of the v™'" classes of debenture stock holders, whom they had of course to. lake into their rounfcK II would, howevor, be in the lushest dVroc unwise to enter upon any discussion on tlic subject until the complete scheme, was before the shareholders. The board hoped il might be possible to ptcsnnt it eaiiv this vca.r, and in the meantime he could only ask-aml he did so with Great confidence-thai the shareholders would give the proposals which the directors would make their most careful consideration, bearing ill mind the great difficulties which were inherent to the subject. In this opinion all present at the meeting hea.rtily concurred. Customs duty collected at the port of Wellington yesterday amounted to £14rt) lis. lfld. BUTTER. (By Telegraph—PrcES Association.) Auckland, January 17. At present in the works of the Auckland Fanners' Freezing Company there are 23.4C0 boxes of butter, to he shipped in consignments to Vancouver, West Coast of England, and London. Up to the present 194,094 boxes have been shipped this season, which compares very favourably with 181,845 boxes for a like period of last season, representing an increase of about 6 per cent. GRAIN MARKET. Dunedin, January 17. More oats are coming to hand than has been the case for some time. Prime milling, 2s. 10d.; good to'best, feed, 2s. 7d. to 2s. 9d.; inferior to'medium, 2s. sd. to 2s. 6d. Wheat: Owing to favourable reports from London there is a better tone in the market. Millers hold fairly large stocks, and will buy only prime quality. Owing to scarcity of fowl feed, medium milling is being used in its place. Prime milling, 3s. lOd. to 3s. lid.; velvet oar and tuscan, 3s. 9d. to 3s. 10d.; best whole fowl feed, 3s. Bd. to 3s. °d. LONDON MARKETS. By Telegnph—Press Association—Copyright (Rec. January 17, 9.30 p.m.) London, January 17. Wheat.—Ten thousand o.uarters of South Australian (sailer), January shipment, sold at 365. 9d. Tin-Spot, £139; three mouths £187 ss. Thore are persistent rumours that a. new international syndicate has been formed to control the market. WHEAT. London, January 16. An Australian cargo sold at 365. lOJd. per quarter. DEBENTURE STOCK. London, January 16. The latest quotations 'Include Goldsbrough, Mort and Oo.b debenture stock, £97. CONSOLS. (Rec. January 17, 9.30 p.m.) London, January 17. Consols are quoted at 771. ( LONDON WOOL SALES. CROSSDBEDS ADVANCE. By Telegraph-Press London, January 16. The wool sales opened to-day. Bidding was brisk, prices showing an advance, of from par to 5 per cent, on the opemng sales of last series, (Itec. January 17, 9.30 p.m.) London, January 17. At the wool sales 9314 bales were offered, a capital selection. There was a large attendance, and spirited competition., chiefly from Yorkshire and German spinners. Merinos were unchanged, and crossbreas, five per cent, above December closing , rates. BROKEBS' CABLE REPORTS. Messrs. • Halgetv and Co., Ltd., Wellington, have received the following cablegram from their London office, dated January 16:-"Wool sales opened. Attendance of buyers i-> large and competition animated. Good selection. Merino wools unchanged. Crossbred wools cha-ngc if any in sellers favour." The New Zealand Loan and Mercantile Agonr-v Company, Ltd., has. received the following cablegram from its London house, under date Ja.nua.ry 16-.-"Therc was a full attendance at the opening of the sate today, competition by Home. Conlir.enlal. and American buyers being active. The opening cataloguos were fairly representative. As compared with lait sales' closing rates, prices are about the same for merinos, and liifihsr by about liar to 5 per cent, for crossbred wool*. The Bank of Now Zealand has received the following cable advice from its London office dated January 16:-"The sales have opened wilh strong competition and n. large attendance' of buyers. The total quantity available of New. Zealand wool is 45,000 bales. New Zealand offerings are not at all representative. The attendance of American buyers is good. The market is strong for all kinds of wool. Prices ■ are higher—par to 5 per cent.' Messrs. Levin and Co., Ltd.. have received the following cablegram from their London nconls. daled January 16:-"The wool sales. | have opened. .Merinos generally are firm, on a par with closing rates of last sales. Crossbred* generally show an advance of 5 per cent. American buyers are ojierai- > ing freely, the new dip being suitable for that market." Messrs. Murrav, Roberts and Co., Ltd., have received the following cablegram from , their London friends, Messrs. Sanderson. Murray and Co., regarding the opening of the first scries of wool sales :-"Thc sales have opened firm, with a Inrgc attendance of Imvers, -and good competition. Cross- | bred wools show an advance of 5 percent., j. while inferior and faulty merino show, a . slight decline. There is no material ' change in prices, excepting In the i,c- . scriptions mentioned above." j Messrs. Abraham and Williams, Ltd., have received the following cablegram from London, under date January 16:"Thc sales have opened with active com- c petition from a large attendance of buyers. , including Americans. The market is very firm, and prospects steady. As compared with closing rales of .last scricr, cross- ■ brods have advanced 5 per cent.; mcriuos unchanged." The United Farmers' Co-operative Association, Ltd., ha.s received the following cablegram from their London agents, under date January !6:--"Tho first series of wool sales opened to-day. There was a large attendance of lionic. Continental, am American buyers. Fir.?, medium, and coarse crossbrnls show an advance of from par to 5 per cent, as compared with dotl.tuc ratoi of previous sale." J[