COMMERCIAL ITEMS.

Dominion, Volume 5, Issue 1373, 26 February 1912, Page 8

COMMERCIAL ITEMS.

IX7ESTJIENT SHARES. No transactions were recorded in investment shares on Saturday. The buying and selling quotations were aa under:— Buyers. Sellers £ s. d. £ s. d. Bank of New Zealand ... 10 17 6 * - Ohrislcliurch das - 9 5 0 Napier Oas - 12 2 6 S I). Insurance — 3 14 0 Canterbury Frozen Heat - 8 2 6 tiear Meat (£4; — 13 0 0 N.Z. Shinniiiß , - „ 15 0 0 Union Steam 1 19 0 2 0 0 Knianoi Woollen 5 10 0 5 15 0 Well. Woollen (ord.l - 3 15 0 Well. Woollen (pref.) ... - 3 0 0 \Ye?t]ior' Ooal — 17 6 Tarinenmulu. Totara, 2 5 6 - C. M. Banks. Ltd - 10 0 Crov.-n Hrewery — 2 10 D.I.C. preference 13 0 — Golden Bay Cement 14 3 14 6 Manning and Co — 4 12 0 N.SS. Con. Dental - 12 0 Kliarlami'j preference — 14 6 Ward and Co 5 3 0 5 4 6 KUKOPEAN SUGAR TRADE. At the ?ml of December the visible snnnlios of suirar in Europe amountci! to 2,73b.270 tons, against 3.229,220 tons in 1910, and 2,852.820 tons in 19(19. These flßurcs eiplain the hisli prices wliicli, nccorcline to our cablegrams, suffar inaiiiLaine. fn their annual review of the sugar trade in 191', William Goiinal nnd Co., of Glasgow, state that as th? season advanced it became evident that the fear of excessive supply was not to be realised. At the low level of values sugars were Ijcinsr rapidly absorbed, and the quantity of beetroot on ofTcr day by day w;i:- never more than HUllieioni in meet the demand. The Cislnin crop was over-estimated, and Hie Siiirrieanc which passed over pnrt of the island in (Vtohjr was folloive.l by drought in many rtistrii'ts. rjdiii'ing the crop frura 1.900.0GQ tons to 1,500.000 lons. Of beet sugar the surplus production in convention countries had been in a great measure nb-orlied tliirius tlvj period of low price;- early in the yenr. and it was with diOicully Hint wli.it remained i-ould bo niaile available in August, as the drought has ?o reduced the wnters of Ctcrmmi rivers nn to render them impassablo for imvlitalioji. Cans itupara being cheaper than beetroot caused atten-

lion to be entirely ilirectsil 10 t!;o'.c descriptions (Inline Ihe autumn month*, and Lite liiith prirjs ruliiic .itlr:i'.-ted supplies from inaiiv nnexpccled ijuiirters. India, where there were uccuimiliilcu lai-RC stocks of Java, resold 60,000 to UO.OCO tons for resliipiiviit to Great Drituin. Ilozambio.no lmrrifil forward rofinvnis crystals, anil even the surplus stocks of Formosa were drawn upon to supply wants and to nnrtiripnl.? in '.lie remunerative prices. The revised' ■isstimates of the crops were issued in November, U.crr Lichl setting (he production down at 6,050,000 ton;-, and the factories at 6,085.000 tons. Ifussia, alone, at the close of the season on September 1, had a surplus stock estimated at 6C0.000 tons at her disposal, and as slta had attain been favoured this reason with another record crop, which would Inriml.v aiiKinont the surplus, she appealed to the Brussels COll- - for authority to export 200.C00 or 400.000 tons ill addition to her authorised routiiu-.ail of 200.DC0 ton?. The British deloßite? ta Uve Permaii.-inl Commission of the Convention were intruded to support the request of Russia with a threat of v.-ithdraiva.l from the Convention in 1913 if thi! demands, of Russia were refused. The Convention as we have since learned by table, haV agreed to Russia's demands. AUSTRALASIAN BANKING AVERAGES. The Australian and New Zealand banking averages for the closing quarter of 1911 have been published in the Melbourne -Argus." nnd it is noteworthy that the advances have increased faster than the deposits. Lboiißh both show a substantial gain. The deposits have increased by £i3,06<!,<43, of which Australia accounts for f11.M0.871. The comparison is as under :— Deposits. 1 Dec. Dec. ni'3l'ter, quarter, 1910. 1911. Increase. N.B. Wales ... 51,082.522 56,552,619 5,270,C97 Victoria 42.203,061 «.486,GE5 4,283,594 Queensland ... 18,9:5,605 20,549.621 1,621,016 K Australia.. 10.595,034 10,955.« l 341,427 W. Australia... 6.707,827 6.862.921 75,094 Tasmania ... 3,534,578 3,844,221 309,643 CoTnmoW-dth 133/31 £27 145,r5;,«8 11,900,871 New Zrallnd 24,393,471 25,557,043 1,163,572 Australasia 157.525.098 170,589.541 13.064,443 The increa-e in the advances is £15,369,818. of which the Australian total is £11.832.860. the New Zealand increase is exceptionally larger:— Advances. Doc. Dec. quarter, quarter, 1910. 1911. Increase. £ £ £ N S Wales ... 40.813,942 46,377.544 6.0G3.G02 Victoria .. 35 858.709 38.024,328 2,155,619 ... 15,668.381 16,770.610 1,102,229 S. Australia... 7,<99,<36 8,603,028 1,103,402 W. Australia... 6,859.838 8,167,<46 1,327,608 Tasmania ... 2.525.853 3.006,253 e0.4C0

Commonwealth 105,616,349 121.449,209 11.832.860 Xew Zealand 21.568.732 25,405,690 3,536,9:8 Australasia 131,485,081 K6,85<J.899 15.369.818 The bank-note, circulation hos dropped in the yeir from £5,911,029 to £2,574,585. Tho coin and bullion also declined from £37,914.932 Id £35.372,771. On the othor hand. .Australian Government notes in the hinds of th? banks increased on the year from £527,729, up to £5,768,96!.

AUSTRALIAN FROZEN MEAT. A remarkable fallins-off in the .exports of frozen timttnn ond Wur.b from the Commonwealth during 1911 is shown in statistics which have been compiled by Messrs. John Cooke and Co. In the year just closed, the number of carcases of lamb sent away from tivj four export ins Statns was 1,953.713, compared with 3,132.387 consigned in 191 D; a decrease of no fewer t'.ian 1,168,674 carrr).;scs. New South Wales and Queensland s'O responsible in about equal proportion-, for this decline in the volume of trade, the exports from the first Stite oc-eroa-sins: from 1.694,769 carcasses in 1910 to 1CC6.C67 in 1511. and in the case of those from Queensland from 810,155 carcases in 1910 to 186,579 carcasses i'n 1911. South Australian Fxporte declined from 99 377 carcasses in 1910 to 52.2<!6 can-asscs ill 1911; On t.iie other hand, the yictorian exports . showod a ' substantial increase, thefieurea ailwindni; from SZ3.CSS carcases in 1510 to f-56.E21 ewenrscs in 1911. Australian trade i;i limb nlso fell away to the extent <-f 307.595 ckithescs, the totals for 1910 beins 1,737.671 carcasses, and for the' past year, 1.429,975. carcases. A. decrease roinnar.-fl with the exports in 1910 is ilis-cl".-ed in all four States, the fiiurcs being: Vi.'toria, 1M.612 carcasses; New South Wales 147."36 carcasses; Queensland, C9lO and South Australia, 47,140 carTho° following fizures pivc the trade for the Commoinvealt-h -'during the past six sCalS ' Mutton. Lamb. Beef. Caivn.-scs.mCarca.s™. ...... Qcs-.i 19C6 1,160.7,72 ' 294,202 1907 1.318.957 1,'47/M 300.118 19'3 .. 983.4 M 1,379,269 ■ 234,059 1909".'.' I.6JS.PM 1,270.«0 3C0.620 19'0 ' 3,133.387 1,737,871 639,951 i9ii ::: 1,963,713 1,429,975 728,775 THE ROYAL MINT. The annual report of the operations of the Ttoynl Mint in Enzland, shows that during 1911, the number of coins struck totalled just over 146.0C0.0C0, against an averase for the past ten years of 121,000,000. A summary of the recent issues of Imperial currency gives the following details- :- Average. 1910. 1911. 1500-1909. ££ ■ £ Cold 33.132.828 25.3P0.000 11.2.W..M8 Silver 2.381.286 2,520.591 1,146,896 Bronze 140,305 151,452 141,865 Totals ... ¥,654,419 27,972,043 12,519,110

GOLD AND SILVER. The gold imports into the United Kingdom for 1911 were .€48,693,000, and tlic exports £40.100.003. Although the Bank of Fnglaud bought gold very largely during the year its stock of gold coin and bullion on December 28 last was only £1,183.520 higher than on December 29, 1910. The price of gold on the London market was extraordinarily steady. The minimum of 775. 9d. was quoted every day throughout the year except for twslve days in January last, when the rate went up id. That vi's owing to Germany ond Ilolland both being in the market together, a conditioii of things which is probably without nrecedent. Ths world's production of silver last year was £22.t00,0C0. or £900.000 less than 'in 1910. The pries of silver was fairly steady over long periods. The general level was well over 24d., and ths highest oriee 2C',d., was seen in October, when the market begin to feel tho effects of the Chinese revolution. The lowest price was 23 11-M. Tlic popularity of silver as an investment in India appears to be waning, th , " net amount retained for consumption there during the year ended October last h?ing only 44,000,0000z., against 56/00,000oz. during the year ended October 19'fl. !>ml 60.Fi0,00007.. during the year ended October, 1939.

CUSTOMS. Customs revenue collected at the port, of Wellington on Saturday amounted to £4033 !2s. 2d" tlic total for the weak being £11.255 9s. The returns for each of the past eight weeks, compar;d with the figures for the corresponding periods of last year show a« under.— ; 1911-12 1910-11 £ £ January 6 15.434 8.143 January 11 M.OM 24.294 January 20 13.507 9.439 January 27 23.468 25.245 February 3 12,125 12,958 February 10 24,751 7,372 February 17 11,834 21.007 ■ February 24 11,255 27,001 136.698 135,459 The be3r duty collected during the past week amounted to £228, as against £201 Bs. for the corresponding week of last year.

GRAIX AND PRODUCE. (By Tel«eraph.-Pres« Associations Oamaru, February 25. Owing to the dehy caused by wet weather, very little threshing has been done, but one Una of 1200 sacks of velvet wheat Ins 'been sold at 3«. 6d. on trucks, hut th« sample was a very good one. The general price is 3s. 4d. net, at country

stations, A pood number of linos of old wheat have. been sold :it from 3s. did. Nat, at ruiinlry sfiliniis, to 3s. Sil. <Ip>.= ram-mi-sion). 'J'ln'rc is fair aotivilv Tor onts, nnd anile good-sized lines have been sold. Two tliuuyaml sucks Dun:', at country station?, fold at 2-:. Id. (Ici-.i crmmiis.'ion); 1700 sacks mixed Gartons nnd Algerians at 2". (less commission!; 1000 rack.-! /.lperians at 2s. net; 1000 sacks 1! (trade Oartons al 2?. (lcs= commission); and o number of other lines on the same ln-is. nil at country stations. One lot of litcht fiartons was taken at Is. lid., and. for a parcel of heavy Algerians. 2s. Id. was paid. Perennial ryegrass has been sold at 25., delivered in town, and Is. lid. at country EHtion. In jiolatoes, only small business has been don;, at £3 net on trucks.

DKEDGIXG. fßy Tcicfjrapb—Press Aesoniatlon.l Dunodln, February 25. Dredging returns :-l!lackv.-ater. 38oz. 6 dwt. for 123 hours; Trafalgar, lloz. 14dwt. for 65 hours; Karaunui, 350z. sd\vt. for the week; Klectric No. 1, 260z. Gdwt. for 129 hours; Olrig, 7oz. 9(l\vt.; ttisc. and Khine No. 1, 17oz. 2dwt. for 134 hours; Waikaka United, Xo. 1, iloi. lCdwt.; No. 2, lloz. 2dwt.; Rising fi;in, 13oa. 14ihvt.; Worksop, 114oz. sdwt.; Trafalgar, lloz. 14dwt.

METAL MARKETS. Bj Telegraph-Press As6ociation-Copyrisht (Ece. February 25, 5.5 p.m.) London, February 24. Co!»:cr.-On spot, £63 13s. 9d. per top; throe months, £64 Bs. 9d.; electrolytic. £66 15s. Tin.-On spot. -6195 per ton; three months, £191 lCs. Lead, 50ft foreign, £5 15s. yer ton. Kilver.-rhr silver is quoted at 26 16-16 per ounce standard.

LONDON MARKETS. By Telegraph—Press Association—Copyright (Bee. February 25, 5,5 p.m.) London, February 24. Copra is dull. South Sea, in bags, £24 ss. per ton. Cotton.—Fcbruary-March shipments, 5.67 id. per lb. Jute.—February-March shipments, £23 per ton. Hemp.—The market is inactive. FebruLead, soft foreign, £15 12.?. per ton. Rubher.—Fine hard Vara rubber is quoted at 4s. 7jd. per lb. AHNING NEWb. WELLINGTON SHARE MARKET. There were no transactions in mining shares on Saturday. The buying and selling quotations were as under :— Buyers Keller* £ s. (1. £ s. d. May Qucwn 0 16 — N.Z. Crown - 0 3 7 New Big River 3 15 6 — , New Sylvia — 0 16 Old Hauraki 0 16 — Tairua — 0 0 6 Talisman 2 13 3 2 14 0 Waihi . 2 4 6 2 5 0 Waihi Grand Junction ... 1 8 6 19 0 Waiotahi 0 3 7 0 3 9 Waitaiigi 0 1 11 0 2 1 Worksop Dredge 2 13 0 — The course of sales during the past week was as under:— New Sylvia, Is. sd. Talisman, 53r?. Waihi Grand Junction, 28s. 3d., 28s. 9d., 28s. 9d., 29?. fid., 28s. 6d., 28s. 6d., 28s. 6d., 23=. 9d.. 28s. 9d. • Wniotahi, 3s. 4d., Jr. 7<l. Waitnngi, 25., 2*. lid. Taranaki Petroleum, 18s. The Wellington Stock Exchangs received the Moving telegram on Saturday from the Worksop Dredge:—Return, 114oz. Sdwt. for 119 hours. STOCK EXCHANGE. IBj Telegraph—Press Association.! Auckland, February 24. Business done on 'ChangesMay Queen, Is. 6d. Old Hanraki. Is. 6d„ Is. 7d. Talisir.nn, £2 13s. 6d. Wniotnhi, 3s. 7d. Chrlstchurch, February 24. Sales reported:—Three parcels Waihi Grand Junction, £1 9s. Ouncdln, February 24. The following sale was reported on the Stock Exchange to-dayßroken Hill (Ulock 10), £2 4s.