COMMERCIAL ITEMS..

Dominion, Volume 5, Issue 1404, 2 April 1912, Page 8

COMMERCIAL ITEMS..

INVESTMENT SHAKES. There were.no-transactions in investment shares yesterday.- The buying and seiliug quotations were as under:—• . Buyers. Sellers. £ a. d. 1 £ s. d. Bank New Zealand IX 0 — . iVationul-Bank 5 17 0 — N.Z. and Uiver Flac 1 19 6 2 0 0 Well. Gas (second issue) .. — 16 10 0 Gear .Meat; (£4) - ' 13 0 0 Union Steam 2 .1. 3 2 8 0 Well. Woollen ipref.) ... — 218 0 Westport-Stocktou ;; 0 14 — Crown lirewery — 1 15 0 : D.onaghy Jiope and Twine — 12 6 Golden Bay Cement — 15 0 2f.2£. Con. .Dental — 119 Shut'land's ordinary —. 14 6 CHEESE. Writing'on'the. cheese .market in their Dairy Produce Circular of February .9, Messrs. W. Weddel and Co., Ltd., say:— The ho i and dry summer of 1911 ..was injurious to the manufacture of home-made cheese in two directions—it shortened the make by about 30,000 tons, and it damaged the qualify more or less of all that was made in England. As an illustration of how the drought afTeeted thd pastures in the United Kingdom, it may be of in.erest to call attention to the production of hay v in the United Kingdom as estimated' by v both the British and Irish Departments of Agriculture. These official figures give the hay in Great Britain as 1,682,920 ;ons.i27 per cent.) loss than in 191ti, and in Ireland as 1,303,677 tons (28 per e?nt.) less, . although in Ireland the acreage was 90.816 I more. Thus the tota 1 shortage in 1911 was 2,985,597 tons. As most of the hay in i Ireland was gathered in before the drought ••began, tho above figures do not give th 3 full effect upon the pastures. The consequence of the drought being thao the average prices of the principal kinds of British clisesc are now higher than they were last year at this time by the following amount per cwt.:—Cheshire, 125.; fcheddar, 20?.; clieddar loaf, 265. The climatic conditions in Canada, and on the Continent of Europe also greatly j reduced the output of cheese, and prices'of I the principal • British Dominion and forj eign cheese in our markets'arc higher than lin February, 1911, by the following amounts per cwt.:—Canadian, 14s. 6d.: New Zealand, 13s. 6d.; Dutch Derby, 155.; Edam, 7s. Gd.; and Gouda. 18s. i Another fact that adds to the abnormal position of/the cheesc trade i.s.th? swallness of stocks at the present- time. In the three principal cities , which import cheese, viz.:—London, Liverpool, and Bristol, the '* :ocks on • February 1 wsre 60,000 Canadian boxes fewer than twelve months ago. New Zealand were 78Q0 crates fewer. In Canada, according to the most trustworthy estimates we can obtain, they are 110,000 boxss fewer. Further, the total stocks in Canada,are in such small compass that, they arc practically a negligible quantity. BRITISH SHIPBUILDING. Lloyd's of British and Foreign I Shipping, in*.its report on vessels added to | and removed; ;frbm the "'Register of the United • Kingdom' during 1911. state:?- that th 6 ;otal addition of steam tonnage has been 1:534,387 tons gross, and of sailing ton- ; nagc 21,864 tons gross, or, 1 in all, 1,356,251 j tons gross. Of the "tonnage added to the Register about 922 per cent, consists of new vessels,' practically all built in the United Kingdom. The largest item among the ■ othsi additions are Those of vessel;* bought; from foreign countries for the United Kingdom—namely, 82,757 tons. The gro3s deduction of steara tonnage from-the ltegis'.er amounts to 854,483 tons, and of sailing tonnage to 163,551 tons, or, in all, to 1,018,034 tous. Of the steam tonnage nearly 24 per cent, and nearly 26£ per cent, of the sailing tonnage includod in these figures, have been removed on accdunt of-loss, breaking up, dismantling, etc. The tonnage, sold to foreign, owners during 1911, which, however, includes • a considerable amount intended for break-ing-up purpose?*, is returned a • the record figures, of 730,485 tons. The steam tonnag.2 deducted on this account i« 616,546 tons, and the s-ailiug tonnage 113,939 tons, or over 72 per- ret*:., and-about 69£ per cent, respectively of the gross deduction. The total tonnage deducted under this head is 210,031 tons higher than the similar figures for 1910. The coinv,ries which have acquired the largest amount, of tonnage from the United Kingdom within the year arc Norway (155.393 tons), Greece (103.385 vons), Japan (83,352 tons;, T'.al.v <79.114 tous), Germany (42.247 tons), Turkey (34,657 tons), Holland (33,180 tons), Sweden (32,373 tons), and France '50,732 tnnsi. In the main the vessels which are transferred to foreign owners are not' of very rccen: construction. On the whole, during 1911. the number of steamers on the Official Register of the United Kingdom has increased by 244, and the tonnage by 479,904 vons, while the number of sailing vessels has decreased by 254, and the tonnage by 141,687 tons. The total number of vessels on th.3 "Register has therefore decreased by 10 and the coUii tonnage increased by 338,217 tons.

HIGH COMMISSIONER'S CABLEOKAM. The Department lias received the following cablegram from :hc High Commissioner for New Zealand, dated London, March 30. (Quotation;, unless otherwise specified, are average market prices on spot):— General—Th? strike is subsiding. There is a proposition to settle the strike by arbitration; Mutton—The market is firm. There is more demand for light-weight. Canterbury is not nuoted. The average price (nominally) is 4 3-Bd. per lb.. North Island 3Jd. to 4i'd. par lb. * ' Lamb—The market is firm. There is n good demand for all lamb. Canterbury 53(1. nor lb., other than Canterbury 5 3-Bd. per lb. Hoof.—The market is firm. A limited supply. New Zealand hinds 4>d. per lb;. New fontanel foris JUL per lb. flutter.—The marked is slightly weaker, with less demand. Ttuyers are camions. The weather continues favourable for home production. The average price for tl'.3 week for choicest Now Zealand butter, ncr cwt;, is 1255.. Danish 1325.. Australian 1215., Argentine 1215., Siberian 1235. Cheese.—The market is quiet, prices slightly weaker. The average price for the week for finest New Zealand cheese, per cwt.," is 745. Hemp—The market is about the same. Spot: New Zealand, good fair, £21 !os,; New Zealand, fair grade. £20: fair curreni: Manila. £81 10s. Forward shioin?nt: New Zealand, good fair, £21 155.: New Zealand, folr crude. £20 55.: fair current Manila, .€2l 15s. The output from Manila for the week was 29.000 bales. Mops.—The market remains firm at last (/notation, viu.:—Knplish, £13; Californian, .1512 per cwt. There is a general and active demand. Whial.—The market is quiet, but firm. Oats.—The market is firm, with an improved demand. llefiis.-The market is firm owing to reduced supplies. l'cas.—The market is slightly weaker, with less demand; a large supply. Cocksfoot Seed.—Tlr.' market is quiet. Buyers are not keen .o do business in cocksfoot seed. CUSTOMS. The statistics for the port of Wellington arc as under:1912. 1911. £ ». d. £ «. d. Mnroh quarter ... ZSO.6PB 11 1 206,185 18 7 I'oa.r to March 31 . 847.886 17 i 797,215 17 4

ItKF.I! DL'TV. 1912. 1911. £ s.-d. £ s. d. .March quarter ... 3,350 18 9 .1,597 11 S Year to March 31 . 13.125 13 6 13,495 11 7 Customs duties collected at the port o[ Wellington yesterday mnoimU'd to £1491 Ss.-9d. LONDON MAHKKTS. Messrs. Dalnety mid Conipanv, Idmilcd, U'elli/igton, H.ivu. been :i()vi»v<l hy their London oltice by cahlc, under date March 30. us ffillnn-K:—.Shcsjiskins: The market if anything is in favour of sellers, nradfont Tops: The niiotalinns <it dale arc as fol-low:-J6's. J2JrI.: 4fl'>, 15.U1.: 'A'-, 14(1.; <6's, 1 ?»d.: 50's, 17(1.: 56'?. Wcl.; 53's, 21d.; 60's, common, 23d.; 60's, super, 241 d.; 64's, 25Jd.; 70's, 25d. Jletsrs. Jomes. Mncintosh anil Co. report having received t>.e foltoiviiiK cable message from their London axentn. under date March 30;— Sheepskins advanced par to farthing.' SHEEPSKINS SALES. By Telegraph—Press Aesoclation-Conyriiht London, March Jl. At'the sheepskins sales 4838 were offered, and the bulk sold. There was fair coinpc--.ition 'for merinos. Prices were practically unchanged. There was a slight upward tendency. All crossbreds advanced by oneeighth of a penny to a farthing. ANTWEItP WOOL SALES. By Telezraph—Press Aesociation—Copyright London, March 31. At the Antwerp wool sales, 4525 bales of La Plata were offered, <ind 2334 sold. Merinos were three per fontmn above prices at -die February sales, and crossbreds five to seven per centum higher. LONDON MAEKETS. By Telegraph—Prese Association—Copyright London, March 31. Hemp.—Market nuiet. March-May shipmonts, £21 10s. Jute.—March-April shipments, £23 10s. ltubber.-4s. lljd. per lb. Cotton.—April-May shipments, 5.95 d. Babbits.—Market flat. Large Sydneys in store, 15s. to 15s. 6d. Copra.—Market firm. ' South Sea, in bags, £24 17s. 6d.