COMMERCIAL ITEMS.

Dominion, Volume 5, Issue 1400, 28 March 1912, Page 8

COMMERCIAL ITEMS.

INVESTMENT SHARES, | The transactions recorded yes»i?rday were i New Zealand and River Plate at o9«. 6d. i anil Mea>t Export. 525. 6d. paid, at 58s. 6d. 1 The buying and selling quotations were as under:— Buyers. Sellers. £ s. d. £ 6. d. Bank New Zealand 11 1 6 — N.Z. Loan and Mercantile — 0 15 9 N.Z. and River Plate 1 19 0 — Ohristchureh Gas 9 0 0 9 5 0 Gisborne Gas — 2 17 6 Well. Gas (£10) - 18 7 6 Well. G:ts (£8 10s.) 16 0 0 - W:ll. Gas (prof. It's.) 0 10 6 Well. Gas (prcf. 205.) • 106 Chriskhurch Meat -- 1511 6 N. 7,. Shipping 14 0 0 15 0 0 Union SM'am 2 4 6 — Well. Woollen (prcf.) - 218 0 . Taiipiri Coal 119 — ' Wc.-»tport Cool 1 6 9 — ! Tarinsainutu Totara 2 6 6 2 9 0 • C.M. Hanks, Ltd - 10 0 ■ Crown Brewery — 1 15 0 , Duiiafthy Rope and Twine — 12 6 t Golden Bay Cement 14 3 1 '1 9 » N.Z. Con. Dental — 119 : N.Z. Drug - 2 11 9 , Shurlaml s ordinary — 14 6 UNION STEAM SKIP SHARKS. There was considerable cxeitemeut among the sharebrokcrs yentsrday afternoon, when buying orders for Union Steam Ship shares were received from Melbourne ot , prices above the local (juo- ntions. At the ' morning call them wore bids of bd. for the shares, but even then higher prices were available, • and us a mailer of fact ' in the afternoon bid* of 50s. f«ilrd to bring any rcipouse. I in various (iinirLers failed to sliri: any facts to acoount for the boom in tho shares . Some 1 time ago it wm rumoured that ttw Neir

Zealand Shipping Company and tlio Union i Steam Ship Company were about \o r.iual- ! gamate, hut this was officially denied. H M.eam Ship Company were about to amal- i gainntion is on loot, and is near completion, the amalgamation is not with the Now Zealand Shipping Company, but, according to rumour, with the British India Steam .Navigation Company. Whatever seheme is in hand, it is obvious that join? favoured'individuals have besn able to f«?cnre information which, very naturally, they are using to their own advantage, by buying up the shares, and the question ante: 4 , in that cva n\, whether the company is doing right by its shareholders by keeping the matter f-eciot. On the other hand, it U jupossible that tho.-e who are buying the shares are operating on vague rumours, which seeius incredible. However, those who iio.ld the shares are certain to hold out for better prices Uian arc obtainable at present. (By Telegraph.—Press Association.) Auckland, March 27. A sharp nnd unexpected rise in Union Company's and New Zealand Shipping Company's shares has taken place in th») last 24 hours, offering? to-day being an advance of nearly 10s?. on yesterday's" buying (hk - * <itions. with, no business doing. Some speculation is going on as to the probable reason for this advance, and a good deal of talk is prevalent about amalgamation proposals with the New Zealand Shipping Company. When the Union Company's Auckland officials were seen this morning i: was stated that there was no information which they were in n- position to give. Christchurch, March 27. A rumour was circulated in Auckland today that amalgamation was contemplated bei.ween the New Zealand Shipping Company and the Union Shipping Company. On a "Ptcfn" representative inquiring at the head olfiec o[ the New Zealand Shipping Company this evening, he was informed that the report was without foundation. Dunodin, March 27. When asked to-night if he could assign any reason for the sudden advance in the shares of the Union Steam Ship Company. Mr. Holdsworth, the company's general manager, replied in the negative. It is understood, however, t-ha'i the denial given in Slay last to the report that amalgamation between the Union Company and the New Zealand Shipping Company was projected, still holds good. NOTES. In the year 1911 India imported a net £21.526,000 in gold, as compared with £15,913,000 in 1910. At the present tims India' is absorbing about one-fifth of the world's gold production, and a. still larger proportion of the world's silver. India is a. sink for the precious metals. The Commercial Rank of Tasmania is older than any c-ther financial institution in Australasia, with the exception of the Bank of New South Wales. In ;t»? year to February 29, the net profit:? were .£55,906, out of which dividends at the rate of 14 per cent, per annum absorbed £24,500, and the reserve was increased to £205,000, or to £30,000 more than tfc.2 paid-up capital. The bank holds £1,765,776 of deposits. The value of the mineral output of Queensland for 1911 was £3,661,063, a decrease of £49,159 on the previous year's total. Dividends paid during the year totalled £444,737, or an increase of £56,017 on 1910. The numb?r of fatal accidents recorded was 17, or four less than in the previous year. During the year 21 new. mines wore opened, and 12 old mines reopened, while 57 mines Aveca closed. The average number of men employed in mines, mills, nnd reduction works was 17,459, being 849 less than in 1910. The total output of copper was 20,834 tons, valued at £1,151,351. The uniformly high price of tin during tha y3ar proved an incentive to the mining for that metal, and the gradual expansion of the coal-mining industry continued. BUTTER EXPORT. (By Telegraph.—Press Association.) Auckland, March 27. The quantity of butter coming forward for export shows a largs increase over the ouantities exported this time last season. Vor the pay; fortnight the Quantity of butter coming forward for export from the Auckland province totals 6550 boxes, equal to 4275 cwt., as compared with 11,996 boxes exported for the previous fortnigh:. Thsre is a. drop of 3446 boxes (1723cwt.) in the export of butter for the last fortnight, but when the last fortnight's shipments are compared wih those of the corresponding period of last season there is an increase of 3660 boxes in favour of the psriod this season. Including the last fortnight's shipments the quantity of butter exported from the province this season reaches the total of 276,365 boxes (138,1621cwt.)., This, when compared with 24,208 box*® (120,1C4cv/t.) the total for the corresponding period of last season, shows an increase for this season of 35,157 boxes, equal to 145 per cent. Customs duties collected at the port of I Wellington yesterday amounted to £3062 i lis. GRAIN MARKET. (By Telegraph.—Press Association.) Ounetlin, March 27. A moderate amount of business is passing in wheat, and all in good condition fit for milling or shipment has fair demand at late prices. A considerable quantity of what is offering is unfit for milling or shipment, being suitable only for fowl feed, causing a considerable drop in price of this commodity. Prime milling Velvet, 3s. 7d. to 3s. Bd.; Velvet Ear and Tuscan, 3s. Gd. to 3s. 7d.; medium milling, 3s. 4d. to 3a. 5d.; inferior, 2s. 9d. to 3s. 3d.

Oats: Owing to tlis continuation of the showery wca-'.her, deliveries a.re limited, but a fair demand'exists, and all offered is taken up at prices showing little change from late rat 33. Prime milling, 2s. 2d. to 23. 3d.; good to best feed, 2s. Id. to 2s. 2d.; inferior to medium. Is. lid. to 2s.

HIGH COMMISSIONER'S CABLEGRAM. The Department has received* the following cablegram from ths High Commissioner for New Zealand, daled London, March 26. (Quotations, unless otherwise specified, are average market prices on spot):— Eggs.—There is a fair demand for better grades, in anticipation of-.Easter. Supplies are increasing. Home supplies arc plentiful. The strike is seriously impeding business. Per 120: Home Bs. to 95., Italian 7s. 6d. to 9s. 3d., Danish Bs. 3d. t-o 10s. 3d., Austrian 6s. 6d, to 7s. 9d. Poultry.—There is a fair local demand. The supply is small, but constant. Chickens—Home lid. to Is. p»r lb., Russian Bid. to 9*d., American BJd. to 10£ d. Ducklings —Ilome Is. to Is. 3d. per lb., Russian 6d. to 7d., Chinese s}d. to 6£d. Turkeys—French lOd. to Is. per lb., Italian Bd. to 9d. Bacon.—The market is rather quiet. Sides —Irish 565. to 695. per cwt., Danish 525. to 635., Russian 50s. to 54?., Canadian 535. to 58s. Ilams—The market is quiet, but firm. English 88s. to 104s. per cwt., Irish 86s. to 100s., Canadian 58s. to 685., American 545. to 58s. LOAN AND MERCANTILE AGENCY CO. (0? TolesraDh.—Press \ssocla.t!on.\ Auckland, March 27. A circular U to be issued to shareholders of the Loan and Mercantile Agency Co., Ltd., to-morrow submitting proposals to write off a liability of £3 10s. per share, leaving a liability of £5 a share. ' LONDON WOOL SALES. By Telegraph—Press Association -Copyright London, March 25. The list has closed for the second series of wool sales. The arrivals total 602,500 bales, there have been forwarded to the manufacturers 343,500 bales, leaving available for the sales 273,000 bal?s. DEBENTURES. By Telegraph—Press Association—Copyright London, March 26. The latest quotations are:—City of Sydney, £101; Melbourne Gas, £102. WHEAT. Br Telegraph—Press Association—Cocrrlahl London, March 26. Three Australian cargoes of wheat <>old at 375. 9d., two at 38?., three at 38s. 6d., and one each at 38s. 4}d. and 38s. 6d. METAL MARKETS. By Tele?raph-Prpfl«« Association —Copyright London, March 26. Copper.—On the spot, £37 17s. 6d.; three months', £68 12*. 6d.; slectrolytic, £70 10s. Tin.—On the spot, £193 10s.; three months, £190. Load, £16 3s. 9d. per ton.