COMMERCIAL ITEMS.

Dominion, Volume 5, Issue 1356, 6 February 1912, Page 8

COMMERCIAL ITEMS.

INVESTMENT SHAKES. There were no transactions in invcrtiront shares yesterday. The. buying and seliinc (lactations were a« under:— lluyers. Sellers. ■ £ s. d. £ e. d. National Eani — " 5 15 6 Hiink of N.S.W 45 15 0 Well. Trust and Ijoan 7 10 0 Napier Gas (£lOl —' 24 10 0 Well. Gas (third issue) ... 11 10 0 — Well, (las (pref.) — 0 8 3 Cliristcliurch Meat -- 16 2 6 Gear Meat (£4) - 13 2 6 Moat Export (525. 6d.) 2 IS 0 Well. Woolleu (pref.) - 3 1 0 MikiiTaugi Coal - 10 6 Taupiri Coal 110 Leylar.d-O'liricn 18 5 - C. M. Hanks, Ltd — 10 0 Golden Hay Cement 13 6 Manning and Co — 4 12 0 N.'/. Con. Dental — " " 1 2 6 Ward ami Co -- 5 5 6 STEAMSHIP COMBINTv. The terms upon which the Koyal Mail fitcatn Packet Co. acquires the pniun Castle Line quite explain the sensational rise in the market value of the ordilnnrv i-hnres in the vendor company, l'ow, if any, of the shareholders in the latter concern will hesitate about accenting £32 IDs. for every ordinary share paid up to £10, and worth in the market only ,£l2 a couple <,i months or eo ago. In addition, they are cinitleil to receive on completion of the trail-ac-tion a dividend of t:J per cent, in respect ot the slm-es fold for the year ended 'December 31. This operation will entail the raisins; of several millions of new capital by the lioyal Hail in the near future, bat ii.s the properties taken over :u-e revenue producing on a very satisfactory scale, no difficulty should be experienced in m-uiiic the rij.-.nired fmills. At the end of 1910 the Il'.nal "Mail had i*;ucd £1.GC0,«0 out of •ui aiithorifrd lol.nl oC .£2,1C0.(M. The dirwtovi, arc rjiiKifiiicntly in a position to offer an adiUtional .CtfO.OCO of capital, of which hvolifthK, «ay, .C2-S.COO, niu.-t take Hk: form of ciumilativi! 6 per cent, pirrci-enr-e stoc-It, while the balance of tlirec-lifths, or must \w ovdinavy s-tocU, without pcekinii anv :i.:lditional powers. It in anticipateil that JEI.BCO.CCO will ha issued in the form of now ordinary stock. .CI.KO.CCO in the «liapp of preference capital, and the balance whatever it may lie. in 5 per cent. uVhcnture stock. These licjircs may be nioriil'ed in dotail, hut, aceonljnu U< t.he'Stat*nimits lo hand by mail, the amounts ami the classes of eocurity lueiitioiied renrcient the mothod o( uapltniliinLltni which, auhjeot u> what may trauapixe liejcaiter, Uib directox?

propose to follow. This amalgamation would retirement the most powerful shipping organisation cvor seen, vmkrncmi; a licet of 1.275.CC0 ton*, the nearest approach u> which is the International .Mercantile Marine, with 1,151,01.0 ton?. The Hoyal Mail has at present no connection with what is kuown as the .South African "conference " and this is regarded as making the new' consolidation eligible for receiving n mail subsidy from tlie Union Government of South Africa. CUSTOMS. . The Customs rovenu3 collected at the port of Wellington last week totalled il2 120 fo. 3d. The rcturm; for each of the, pa-t eight weeks, compared with the ligures for the corresponding periods o[ last vear show ns under:— 1911-12. 1910-11. .£ £ December 16 ._ 18,858 21567 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 January 27 23.468 25 245 February 3 12.125 12,958 155,931 127,505 Ths beer duty collected during the past week amounted to £571 18s. 7d., us against, .£454. in the corresponding week of last year. ~rC ! ',:t oms duty collected at the port of Wellington yesterday amounted to £2508 18s. 7d. NAMER GAS COMPANY. Bl Toleerasb.-I'rcss AumcliUobJ Napier. February 5. The annnal report of the Napier Gas Company states that the tramway system now about to be installed will involve considerable alteration and expense to the company. The work of removing the main pipes from the streets on the lino of route, and relaying the. same in the footpaths on both sides is now beinc carried out, the cost of labour is being charged against revenue. After writing off £ICCO for depreciation of p!3,ut, there remains a balance of profit, £71£6 9s. 3d. It was decided that further dividend amounting to £5533 17s. 6d. be paid, and the balance (£1622 11s. 9d.) carried forward. Mr. K. W. Knowles was re-elected chairman of directors. WHEAT AND FLOtJE. B j Telegraph—Press Association—Copyright London, February 3. Th» wheat and flour afloat for the United Kingdom total 2,745,C00 Quarters, for the Continent e<o.ooo quarters. Atlantic shipments, 174,000; Pacific shipments, EO.CCO. 'Die total shipments in Europe during the week amount to 760.CC0 niiarters, including 19,000 from the Argentine, 85.C00 from iiussia, 126,000 from Danubian Provinces, 46.CC0 from India, and 150.0G0 from Australasia. LOKDON MARKETS. London, February 4. Copra.—Market weak. South Sea Island, in bags, quoted at ££5 17s. 6d. per ton. Kauri Gum—Cases in stock, 376. llorap.—The market is ouiet, but steady. Jute.—February-March shipment, £21 15s. Cotton.—February-March shipment, 5.53 d. Kubber.—Rubber is quoted at Is. 7d. per lb. Wheat—Three Australian cargoes sold at 575. 7Jd., 375. 6d., and 375. 3d. respectively, METAL MABKETS. London, February 4. Coppcr.-On the spot, £61 17s. 6d.; three mouths, £62 12s. Gd. Tin.-On spot, £194; three months, £192. Lead.-£ls 12s. 6d. per ton. Silver is quoted at 26Jd. per ounce standard. HIGH COJraiSSIONEIVS CABLED MARKET REPORT. The Commerce and Tourists' Division of tho Department of Agriculture, .Commerce, and Tourists htw received the following cablegram from the High Commissioner for New Zealand dated London, February 5, 1912. iXote— Quotations, unless otherwise specified, arc average market prices on spot.) :— Jtutton.—The mar'uot is steady, but without animation. Heat quality is scarce, Korth island, 4Jd. peril.'.; Australian, 3Jd.; liivei , Phtte, 3id. per ]b. Lamb.—The market is Ilrm, there is a good demand for prime -quality, but- there is a scarcity of same. Buyers arc not inclined to mal'e forward purchases at liresent prices. Australian, CM. per lb.; Itiver Plate,,4id. per lb.; other than Canterbury, 5Jd. per lb. Beef.—The market remains firm. The supply is small, but constant. S.Z. hinds, 4£d.; forts, <d. nominal. Butter.—The market ii; steady, and likely to remain so. Moderate supplies arc coming forward from Denmark and Siberia. The average price for the week for choicest Now Zealand is per cwt, 1313.; Australian, 1285.; Argentina, 1275.; Danish, 1355.; Siberian, 1235. per cwt. Cheese—Tho market Iβ Bteadv. There is a good liemand for all descriptions of white and coloured. Hemp.—The market is quiet, but etea<i.v. New Zealand good fair spot per ton, £21 10s.; fair grade £20 10s.; fair current Manila. £22: forward shipment, about the same. The output from Manila for tho week was 39,000 bales. Hops.—The market is firm owing to reduced supplies. English, £13; Californian,'