COMMERCIAL ITEMS.

Dominion, Volume 5, Issue 1343, 22 January 1912, Page 8

COMMERCIAL ITEMS.

LVVESTMEXT SHAKES. ! There were no transactions in investment sliarcs on Saturday. The buying and selling quotations were as under:— Buyer?. Sellers. X s. d. £ s. d. Hank of Now Zealand — 11 7 6 Equitable Building 10 5 0 N.Z. and River Plate ... 2 0 0 - Well. Investment 0 11 5 — Well. Trust and Loan ... 7 13 6 — Auckland Gas 5 7 9 — Christ-church Gas 9 10 0 9 14 0 fiishorne Gas 3 0 0 — Napier Gas — 24 10 0 Well. Gas ipref.) ?, 5 6 Cliristrliurch Meat 15 15 0 — Meat Export (£4) — 5 0 0 Meat Export <'625. 6d.) — 3 10 Well. Woollen (ord.) -*• 18 0 | Well. Woollen (pref.) — .>l6 Hikurangi Coal 10 0 15 0 Taupiri Coal 110 — Wcstport Coal — 17 3 Lcvland-O'Brien 18 9 Parker, I<ainli Timber ... — 19 0 C. M. Bank*. Ltd - 10 0 Donaghv Hope and Twino — 12 6 Golden liny Cement 1 3 0 — N.%. Paper Mills 10a — Sharland's preference — 14 6 Ward and Co — 5 7 6 CANADIAN BANK FOR AUSTRALIA? Mr. D. 11. Ross, the Canadian trade commissioner at Melbourne, reminds Canadians in a rcecnt report that neither Cannula nor t«he United States has a branch bank in the Commonwealth. lie points out that at present nearly all bills of exchange arc negotiable either in New York or London, which causes much inconvenience through the bills of lading covering Canadian shipments to Australia being so much delayed in transit that the tfeawi»r.s •ire discharged before the documents have arrived. Shipments cannot bo passed through the Customs without invoice?. and the production of bills of iading are also in order to obtain delivery from the steamer?. Storage charges on the wharves accumulate and add to the cost of the goods in the warehouse, besides causing friction and annoyance between importers and agents for Canadian manufacturers nr.d exporters. The exports from the United States to Australia in 1910 were valued at £7,659,161/, ami from Canada £802,045, aggregating £8,461,195, and the assumption is that a Canadian bank, with branches in NewYork and Australia, would eccuto tho

greater portion of these profitable exchange?. The lust two cargo «tcamrrs from Montreal arrived in Melbourne before the shipping documents came to hand, and it is imperative, he considers, in the interests of Canadian iiade, that export, rs should endeavour to remedy u\wh a serious I dUabilitv. Some large importers hsivo reI contlv made strong representations lo a leading Aui-traliau bank to establish branches in Canada and New York to overcome these diflkuUii*. In view of these circumstances, the "Monetary Timer" considcrs a Canadian bank may fvel jueii'lied in entering that iicid. GAMBLING IN .11JTK. The injury done to the jute industry by the street gambling in jute, which has a&snmbed enormous dimension? in Cak'utla of late, has led the Indian Jute Mills Association to appeal to the (Jovmnnwnt to deal with the matter by means of legislation. It was stated hi the letter drafted by the committee for presentation to the authorities that although the contracts used by the gamblers purjwrt lo evidence the nalc and purchase of jute, rval business is not intended, aud provision is made in the form for t.he payment of differences. It it? further pointed out that the parties concerned belong to the Mawari community, that they congregate together in the public street much-ad they did when they watobed the clouds and waterspouts for the pur* pose of rain gambling. But, it i's added, there is this gTcat difference between the two—"whereas rain gambling affected only those immediately and actively concerned in the game and willingly taking part m it, thie pernicious speculation affects innocent parties and seriously injures an important trade." The remedy suggested is the passing of an Act making it a penal offence to gamble in produce. The committee suggest that the difficulty of discriminating between gambling and actual business might be met by a clause providing that in the (rase of persons not regularly trading or dealing in tho axticle purporting to be bought and sold, the presumption shall be against the accuscd person in regard to his intention. CUSTOMS. The Customs revenue collected at the port of Wellington on Saturday amounted to £1326 Bs. 9d., the total for the week being £13,807 Bs. 6d, The return* for cach of the past eight weeks, compared with the figures for the corresponding periods of last year, show as under:— 1911-12. 1910-11. £ £ December 2 .. 20,452 19,249 December 9 9,870 12,989 Docember 16 .... 18,358 21,567 December 23 15,579 13,923 December 30 12,636 11,936 January 6 15,434 8,143 January 13 24,024 24,294 January 20 13,807 9,439 130,650 121,540 The beer duty collected during ths past week amounted to £222 6s„ as compared with £321 15s. 4d. in the corresponding week of laet year. DAIRY PRODUCE. Messrs. A. H. Turabull and Co., Ltd., Christ-church, on Friday received the following cable message from Messrs. Weddel and Co., London, relating to dairy produce prices in London:— New Zealand first grade salted butter, 1325.; New Zealand first grade uusalted butter, 1325.; Danish, 1365, The decline is owing to fear of strikes. Market closed steady. New Zealand first grade white cheese, 735.; New Zealand first grade ooloured cheese, 725. Gd. The decline is owing to the fear of strikes. Tho market closed steady. LONDON MARKETS. New Zealand Loan and Mercantile Agency Company, Limited, have received the fallowing cablegram from their London house, under date January 19:—Frozen Meat:Thcro is more inquiry for lamb, and the market is steady for beef. FROZEN MEAT QUOTATIONS. By TeJecaph—Prep? Association— Gopyriifhl (Rec. January 21, 5.5 p.m.) London, January 20. Tho Frozen Meat Trade Association's Smithfmld market quotations for the undermentioned classes of frozen meat arc based on actual sales of not lc<ss than one hundred carcasses of mutton or lamb, or twenty-five quarters of beef of fair average quality. The quotations are not selected lines, but for parcels fairly representative of the bulk of tho shipments now on the market. The prices which follow are on an aycrage a farthing per lb. more than the value ex ship, this difference representing an average coet in expenses, handling, conveyance, and. selling the meat Jan. 13. Jan. 20. Mutton— d. d. Canterbury, light — — Canterbury, medium — — Canterbury, .heavy — — Southland 41 4| North Island, best 45 North Island, ordinary... — 41-16 Australian, light 3ji 3jJ Australian, heavy 31 35 River Plate, light Zi oil River Plate, heavy 33 33 New Zealand ewes 3j 3 Australian ewes 3,\ 3 River Plate ewes .....' 3J 3£ LambCanterbury, light — — Canterbury, medium — — Canterbury, heavy — — Southland — — North Island, selected ... — — North Island, ordinary... — Australian, best 4& Australian,. fair 4j 4£ Australian, inferior 4 4 River Plate, first 4,]. 4i .River Plate, second 4$ 4 BeefNew Zealand, ox fores ... 3 3 New Zealand, ox hinds ... 3| 31 Australian, ox fores 3 3 Australian, ox hinds 33 33 River Plate, ox fores ... 3 3 River Plate, ox hinds ... 3J 31 River Plate, chillcd fores 3J 3<| River Plate, chilled hinds 43 43 Rabbits are firm and unchanged. LONDON WOOL SALES. By Telegraph—Press Association—Copyright London, January 19. At the wool sales there was spirited competition. American buyers were keen for good crossbreds. WHEAT. (Rec. January 21, 5.5 p.m.) London, January 20. Thirteen thousand a.nd live hundred quarters Australian wheat sold at 375, 6d. SILVER. London, January 19. Bar silver is quoted at 26 3-16 d. per ounce standard. KAURI GUM. Londorb January 19. Six hundred and fifty easos of kauri gum were offered, and SCO sold. Fine threequarter scraped brought 170s. HIDES AKD BASILS. Tlidcs are neglected and unchanged. Basils arc steady: Australian, lljd.; first New Zealand, ISd. NORTH OTAGO MARKETS. (By Telegraph—Press Association.) Oamarti, January 21. Several sales of wheat have been recorded during the week, ma.rking a slight advance on previous prices. 500 sacks of velvet sold at 3s. 61d. net, at a. country station: 20 do. wer.c delivered in town from parting - distance at the same figure, and 300 sack? of mixed velvet and red chaff won l sold at 3i'. 7£d. Nt a country Nation. Fowl wheat sold at 3s. lOd. f.o.b. at the commencement of the week, but fell to 3s, BJd, at the end. No busiuess has been done in other produce.