COMMERCIAL ITEMS.

Dominion, Volume 5, Issue 1387, 13 March 1912, Page 8

COMMERCIAL ITEMS.

INVESTMENT SHAKES. A sale of Gear Meat shares, £4 paid, at £12 15s was the onlv transaction recorded yesterday. The buying and selling quotations were as under:— Buyers. Sellers. £ s. d. £ s. d. Bank of New Zealand ... 10 18 0 - National Bank ■••• 516 6 519 0 N.Z. Loan and Mercantile - 016 6 Well. Gas (£10) 18 0 0 Well. Gas (pref.) 0 8 0 - Meat Export (£4) - 5 0 0 Meat Export (o2s. 6d.) ... - 2 " ° N.Z. Shipping » — 14 0 0 Taupiri Coal 1 l o — Westport Coal — ; Taringamutti Totara 2 6 6 2 6 9 C. M. Banks, Ltd - » 19 \ Donaghy Kope and Twine 110 J• 6 Golden Bay Cement — , ,? : Manning and Co - J N.Z. Drug - 2 11 6 Sharland's ordinary — ; ; 5 Saarland's preference — J J 6 Ward and Co — J 4 3 W.P.C.A. (£5) - JSO W.F.C.A. (£1) - 1 3 °

THE INSURANCE ACT. Commenting on the work in connection with the Insurance Act, engineered by Mr. Lloyd-George, "The Economist" of a recent date savs:—"The Commissioners' task looks very formidable. They have this year or next to find 13,000,000 persons, and 13,000,000 cards will have to be issued either through societies or direct. Provision will have to be made for the periodical collection of these cards, and for ascertaining that all the stamp entries arc duly extracted and carried (for tho 52 weekly entries, payment or arrear) on to 13,CC0,050 cards or ledger accounts in the possession of tno lost Office or the friendly societies, 'lo avoid possible loss by fire, the cards actually in currency have to be duplicated and safely stored in fireproof receptacles, as is the practice in certain of the industrial assutanco offices. That involves- another 52 entries of payment or arrear on 13,000000 cards That each card has to be posted with the initial amount credited in respect of reserve value, and. year by' year, with the diminution of the debt on this head. Surrender values and transfer values have to be kept up to date on each card, with sickness pavui2nts and allowances duly debited, so that an exact record may be immediately available in respect of any individual's position. The mmd of man cannot easily realise ths magnitude of these operations. It is difficult to think in millions."

ADVANCE IN OILS. Merchants have been advised of another advance in the price of kerosene, the second advanea in a month, and the general opinion appears to be that the rise is due to the coal 6trike in Great Britain. As a matter of fact, the coal strike is not the direct cause, but an aggravation of other causes. The "Financial Times" of February 1, in dealing with the oil outlook, said:—"The present position in the oil trade is somewhat similar, to that ruling last October. As wc stated at tho time, the reason for the rise being a shortage of oil-tank steamers experienced by the Standard Oil Company. The American concern had sufficient supplies of oil, but it was inadequately supplied with tank steamers to move its oil lo the required quarters and to carry on its campaign to the extent necessary to conduct its programme. Competitors of the Standard Oil Company who had sufficient tank steamers for their needs foresaw the difficulty of the Standard Company, so they raised their prices. The Standard Oil refused to follow suit, and as a result of its underselling obtained largo orders, but in a few days it found that it could not continue its policy because it had not the transport facilities for delivering the oil at the rate at which it was selling, and it was forced to come into line with its competitors and raise its prices." "As a result of the rapid development of the oil trade, tho demand for marine transport facilities is again exceeding the supply. The position has been aggravated by the loss from various causes of a number of large oil-tankers, and it is stated that the present stringency is likely to become worm before it is finally relieved. Meantime the freight of liquid oil in bulk from the United States to Europe has risen to 40s. per ton, as compared with 15s. per ton twelve months ago. As a result, burning oil has advanced to the extent of a further Jd. per gallon, and lubricating oil to the extent of 10s. per ton, while sellers of oil fuel are stated to have withdrawn all offers for the time being."

TKADE IN ALLEN STEEET. Potatoes—Owing to wet wsather. the market has advanced 10s. per ton, but as heavy shipments are coming forward a decline will probably take place. Current values are 4s. to sa. per ewt., according to sample. Onions.—Canterbury-Brown are coming in more frealy, and the market has declined, the prices now ruling being Bs. 6cl. to 9s. 6d.. with every prospect of a further fall. Pollard.—lieguiar shipments are now coming in from Australia, and the market rules at £7 10s. to £8 per ton. Urou has good inquiry, at £5 10s. to £5 15s. Flour.—Good sales are being made of old wheat flour, at £8 10s. per ton, f.o.b. south, less the usual discount. Oatina, in 41b. bags, is offering at 10s. per dozen, and' rolled oats command Ba. 6d. per dozen. Oatmeal.—Millers are anxious to sales for forward delivery, and the present Wellington price is £14 10s. per ton for hading brands. Oats—Shipments of new season's Gartons arc offering, and the samples are very satisfactory. Prices range from 2s. 9d. to 3=. Dun oats are in fairly heavy supply, and are quoted at 2s. 9d. to 3s. per _ bushel. Owing to heavy shipments of Algerian oats to Australia, the prico lias advanced, the local quotation being 3s. to 3s. 3d. per bushel. . . , Chaff.—A large quantity of the new seacon's chaff is not keeping well, due. no doubt, to the wet harvest. Prime samples are selling at £4 ss. to £4 155., sacks in. Cape barley is dull of sate, at 3s. 9(1. Feed barley is in poor demand, at 3s. 3d. per bushel. . , , , . Baled straw is in heavy supply, and is quoted at 60s. to 70s. per ton. . Maize—A light business is being done, at 4s. 6d. to 4s. Bd. „....,., Hams and Bacon-Owing to the shortage of pigs, prices of hog products have advanced. Sides 9Jd., rolls lOjd.. shoulders Bd.. hams 9d. , Fresh eggs have again advanced, and are now selling at Is. sd. to Is. 6d. per dozen; prfserved nrc quoted at Is. 2d. to Is. 3d. Butter—Prime milled is in short supply, and selling at lid. per lb. Cheer.i is in good demand, medium 7d., loaf 71d. to 7id. Poultry—Hens, 2s. 6d. to 3s. per pair; young roosters. 3s. to 45.; ducks, 4s. to ss. Vegetables— Cabbages continue dull of sale, at 6d. to Is. 6d. per sack: green peas are in short sunnly, and consignments are recommended. Ths usual demand exists for French beans, carrots, parsnips, pumpkins, and marrows. Fruit.—Owing to the development of black spot in apples, much of what was intended for shipment to England has been marketed in 'Wellington. The Monowai from Auckland yesterday brought forward transhipmsnts of Island oranges and ban.rnas, ex Talnne, from the Conk Islands, and excellent rates were realised for fruit in Bound condition. Heavy shipments of anplcs and peaches are coming from the Motuoka district, and the Hawke's Tiny district is contributing a large ounntity of punches. Dessert pears and tomatoes have advanced in price.

' HIDE AND TALLOW SALES. Mr Newton King reports from Stratford as follows:—I offered a good catalogue of skins, tallow, and wool at my sale yesterday, to o fair attendance of buyers. Wool was a halfpenny easier, as compared with lute rates, bales selling up to B3d. Skins were par to J<l. lower. Tallow ort-vmie-tl up to 30s. per ton, and sold up to £27 IBs. Hides met with very keen competition, ox and cow adrancinir one nenny to I'd., prices being ns follow:—Thirty ran-"61(1. forty. 7(1.: fifty-four. 7W.; 176, 7 oi-B<l •' fiftv. 7»d.; 105, 7Sd.: 107, Bd.; iifty-onc, 8 3-Bd.: twenty-three, 82(1.: seven, B]d.: tivo. B',d • ten ox. 6^(1.; ten do., 7?rt.; thirty-five do.]' 81(1.; sixty-four do.. 8?d: three do., 9 3-8(1. Settlers lmlos. 5Jd. to 6Jd.

Customs duties collected at the port of Wellington yesterday amounted to £8360 85. 8(1.

CANTERBURY GRAIN' MARKET. (Uj Telccninti.—l'rc.ifl Association.! Christchurch, March 15 Tliod» is ft fair riuontity or wheat offerins, and samples In condition find buyers at 3s. Id. to 3a. Sd. at country stations. There is Btill a fair, amount at busincEj

doing in oats, up to is. lid. for A (trade at country stations is reported. At present, however, there is no outlet for merchants purchases. No fresh orders at .current priiv>« can he placed in Australia, nod there is no freight n.vailahlc to the United Kingdom, nor is it expected that there will be until the close or the wool season. There is no change to report in barley. Tlv offerings of grass seed have fallen olf considerably, owing to formers having lieen engaged in saving the grain crops. Cocksfoot is coming forward slowly on account of delays through broken weather.

TIIE MEAT MARKET. (By Teleffraph—Press Associations Chrlstchurch, March 12. The British and New Zealand Meat- Company's London cablegram states :-Muttou -Canterbury, 4d. to 4'd.; North Island, 35d to 33d. Lamb—Canterbury, 5Jd.; North Island, 5Jd. Beef-Hinds, 4d.; fores, 3£d.

LONDON MARKETS. Messrs. Dalgaty and Company. Limited, Wellington, have received cabled information from their London office to the effect that the March wool sales, which were postponed owing to tho coal strike, are now fixed for April 11. with a limit of 250,000 bales net new arrivals, provided that the tiuantity be reached before the eighth day prior to the opening of the sales. No wool arriving after that date will be admitted. The third series opens on .Tune 11. The limit, if any, is to 1)2 fixed later.

SILVER. Hj Toleeranh—Presi Assncf.itlicn-OoDTtlElit London, March 11. Bar silver is quoted at 26 15-16 d. per ounce standard. MINING NEWS. WELLINGTON SHARE MARKET. Sales of Talisman at 50s. and 60s. 3d. were reported at the morning call, and these were the only transactions recorded during the day. The buying and selling quotations were as under:— Buyers. Sellers. £ s. d. £ s. d. Ross Reconstructed 0 3 3 0 3 6 Talisman 2 9 6 210 3 Waihi - 2 13 Waihi Grand Junction... 17 6 18 0 Waitangi — 0 13 Worksop Dredge 2 17 6 — Taranaki Petroltum 0 18 3 — STOCK EXCHANGE. (By Telegraph.—Press Association;) Auckland, March 12. Business done:— Waiotahi, 3s. 6d. Wuitanei. Is. 4d. Waihi, £2 Is. The following business was done at the 3.15 p.m. call:— Mav Queen, Is. 4d. Occidental Consolidated, 9Jd. Old Hauraki, Is. 9d„ Is. 9d. Talisman Consolidated, £2 10b., £2 9s. 9d. Waihi Grand Junction, £1 Bs. 3d. Waiotahi, 3s. 6d. Waitangi Consolidated, Is. 4d. Kuranui Caledonian, Is. 2d. Gisbome Gas, £2 17s. Chrlstchurch, March 12. Tho following sale was reported on the Stock Exchange of Canterbury to-day:— Kaiappi Woollen (preference), £5 ss. Dunedin, March 12. Talisman Consolidated, £2 9s. 9d. Westport Coal, £1 7s. (three porcels). Sale reported:—Talisman Consolidated, £2 9s. 9d.

THAMES DEEP LEVELS. (By Telegraph—Press Association.) Auckland. March 12. At a meeting of the Board of Management of the Thames Deep Levels, tenders were considered for driving the main crosscut at 100 fe.2t another length. A tender to drive 1000 feet at £2 12s. 6d. per foot was accepted.

WAIHI SHARES. By TeleErapn—l'ress Asaoci-Hion—Oopjrliial London, March 11. The latest quotations are:—Waihi Goldmining, 41s. 3d. (buyers), and 435. 9d. (sellers).