COMMERCIAL ITEMS.

Dominion, Volume 5, Issue 1408, 8 April 1912, Page 8

COMMERCIAL ITEMS.

COMPANIES REGISTEIiED. 11-? J l '" 'i 8; 1 01 ,/"-onipanies registered published in th= -Mercantile Gazette" of last week, there appears the following — Association Football Grounds, Ltd., regis- «£ ."Wi" 1 *' oHil ' e - 82 and M Manner's inf ™J e '" lsto "v £apilal, £5000. divided into 5000 shares of £1 each. Subscrbefr-i F. J. Courtney, 25; 11. V. Oodber, 20; W. r"T"n 2 V, K - h - lm ™' 25i iL -M'Ksov.n, ?? : i. D^ hte T vcns> to; J - J - Roberts. 25; A. Bolton, 20; ,T. F. Atkns; 25. Objects: To acquire land and manage same for the purpose of all games and sports. !>ou.li taranaki Shipping Co., Ltd., regisnr, a V a P r »'ate company on March 29. ?i«wii I '^ r ? l , an , d Q" I'atea. Capital, .116,500, nividcri into 16.5C0 shares of £1 f£° n To% cri 2> r -?, : Thc p atoa Shipping Lo.. lud. 5oi0; the West Coast Ilefrigerating Co.. Ltd., 10.990. . Object: To acquire the Haw™ Kapuni, Kiripaka, and

11. Ij. Young, Ltd.. registered as a private company on April 2. Office: 3 Cuba Street, £.♦ m im l °i} ort l'- „ £*P'X*l «000, divided into 5M .sharss of £10 each (170 preference 350 ordinary). Subscribers: H. L Yoi ™ o n SO; A T ,-- Bctt ' P : °- Conrad. 1C0; IT. \' O Z?, ju. uojeo.s: To acquire as a going concern he business of printers, publishers, bookbinder?, etc., hitherto carried on at Pallncrston North by H. L. Young , ™i!. , .!tP lpe Conl Co-, 1 '"" registered "as % ">.':"" te company on March 28. Capital £M, divided iir.o 7052 sharss of £1 cadi «"^ n V- : !' s: •U o]can<I < !r ForI ><*, 2334; George S« IlS n- B \ Il!y ', 2o . 0 , 4: Al ' thur ]:(hvar(l Task"v, 1167; Diehard Algernon George Filleul. 50 Solomon Cecil Levien, 1167 Objects' To carry on business of miners, mine "pinprotois, coal merchants, etc. (Thi» is n kelson concern.)

MANCHESTER SHIP CANAL. The accounts of the Manchester Ship Canal Company for the latter half of 1911 s.iow that the full year constituted a re?£i,l"t,\m h , l,t ?. ry ? f ,' the company. . The total truffle dealt with repre:.?nted 5,217,012 ]°S.lm S f asam . st W"' 63l tons in 1910, and 4,563,401 tons in 1909, whilst the receipts aggregate.l £580 841 last year, £555,735 in 1910. and £504,059 in 1939. During the -ix months from .June to December Inst howwere £4167 more than those for the corresponding portion of the immadiately nrc£161,528 respectively. The earnings on the year fortunately were sufficient to allow of tlw payment of the full amount of interest Hue lo the Manchester corporation The causes of the diminished prosnoritv which characterised the latter half "of the vcar included labour troubles, the company having, as an otitcoma of the strike, to meet an extra, outlay of £8844 on labour, in addition to which £1598 was expanded in JET. V? eel ?' policD at the docks. Referring to the difficulty as it affected the company, the chairman at the annual meeting remarked that work had been suspended for a fortnight. The docks at the time were full of steamers he cargoes of which could not be moved the whole of the operations of the eaiia being temporarily demoralised, and the company Mses hßd '- 0 bc ,;orne b >" °

JAPANESE TRADE INVASION. t,£ e c a, hv Of T a tra \ !e ""?sion'of other countin? by Japan havo been scrioiHv entertained and openly expressed will j cr C a-d frequency of late. Some of the obi a-fes in the way of the Japanese in the matter of industrial competition against other people? have been outlined bv I err IW berg, the Herman ejt-C3loni.il \Scrretary a« a result of his observations duriu c Q;,'extended touv in w* v~>=t ni,;„r these, he dcrta'rk ii ?ft\ ea C ! C f n »%°»<j debt, which is still almost as large T s it was at the. close of the war six vears Igo namely, £i per head. The taxation of °i per head per annum, he states 1° a very STo'f K!, n ,„ 0n S i".° h a „ p ? or Population ?, tliat of Japan. Ho admits that there is ho 10 ,,™! . and ( .«*!■«■ ™i Proceed ••hi. the. alnio?-. entire absence of iron ore s to tan? howcS''' If t?* Japane,? Bio to nand, howc\er, speak in a hopeful vein mine b -l? "" «■*'* >™" ;ulf?L a S^b£hn^ h or r^eS!? e foundry at Hanyang and the openin" . n Sd , Chinsse law, the cenit'ilict* nf !h„ *! !■ ■ £» l T eni t0 ™ «P * fur lef whsronniii n n««. «„- "... x/r-nt-c^srM is losing ground, and tea is pronrfS on yto America. Labour altl oush nom? nally cheap is not actually ° g It ', difficult to induce workers to remain Inim a.; one occupation, and skilled labour \* scarce. His conclusion i« that 'vm, without tariffs, serious Jam "i " h ?- r Hon with European man«f°X°r. C °S pe , "■ solute y out of the f ,„es"io i" ot a'lontime to come. lon =

SBKS CANAL SHAKES. The fact tlmt the Panama Canal may be open to traffic in 1914 does not appear to depress the value of Suez Canal shares At the end of December the sOof. share of t ; c J?, 1 r tc ' : , wate "™y «as quoted in v\ r i\ at 5926f., but since that date values have been raised 1o over 6500r., and c lo"d ■? month ago at 6325f. The SU p„ ort "i°™? ,' 1 his stock was based on ] e trail" re °" toipts, which for the first six weeks "f the current year ainomii.pcl to nmmit ,~ compared with 15,490,000.. for the siftmding period of 191(1. «,, i,irea'e ot 1910 A'V"- J, " e not ''"turn fof 1910 v,as 158f. per share, or 32 per rent on the paid-up capital, -jtmal to Z 53 n ~'• cent, on the inarkc', va)u« ofS'w P M' p?i!factc , rp„ I '^-f^-c« the opinion is expressed in other wel in formed injur crs tfia.: the canal com' • is still only in the beginning „f it, " PC "r fii™ 1 cs i s ' " ~ ras founded in December 858 iiiKl opened, on .November 17. 18C9 while its concession for 99 years after "he date of opening expires in 1968, when t c undertaking rr.-orts to the Kgvptiau Go ernnrait. In 1909 the .ompaliv n ,',e on effort to seeure an extension of tie,.,?, cession to the. year 2088. verv fan ,••■, \Z terms being offered | 0 the '1".,,', ii.? authoritic... These were chioflv tin' h abln C '',",;' 1, f0!,, R1, ' , " W , r - CC ' civ ,° ■SKWOO.CC'O 1 „a v. o 19 nT' T", i '" Sla " ,C " ls f, -°'» 1«0 liamenl. but there is liftle rio.Vb tint the company will renew it= proposal i,, "'' form or other. The "row h of Hi- „■..'J,,.im„ ~.;n ;* t i - lu v ' tllo worldnfhr w I. it feel-, render n doubling of I the canals cnn-.euy imperative, nnd it " rnn sidnrs that the f»» m -i 1 In :h.e ro.r?nf the Vwwfi Canal-■'i|lw [U buns (anna lo bo undor ihn exclusive rnn' trol of a uinslo Go.vcnunent! cxuusno Loa '

BANK OF ENGLAND KETUII.V. By Tclenraph—l'resa Association—Copyrieht London, April .'>. The Dank of England return issneil for tlu> week ended M'ednosday, April ,'!, is as umler: — Issue DBr*nuiEXT Kote Issue. iM,93G.«8 Gov. dobt ... xn.015.033 Othov eecuri li<« 7,134,030 Goli 3l.a«,O0O £J2,00C,00D i'M.'XM.CCO BA.VSI.VO DEPAIITJtr.N-T. rroprlnlors' Govt, socurlenpitiil XH.563.000 tics £M.252,G03 rublic do- Other sccuripoilts . ... ■J.um.fO) lies i1.M7.000 Other noposits ... 40.n0i.000 Xotog ... 'rl.tistOO llcst, 7-ihiy and oLher bills... ... .I.EOfI.COO Coiu ... ... l.fil.OM 4:1.028,03J £31.028,1X10 The leading items of the Hank of Kr.,;land return afford the following comparison :— This woo!: Last wo!>k. Last year

Bullion 31.517.0U) 36.711,003 ;ii'..77ii.000 Heserve 21.5>9.U0U 25,2c0.111i) 2".!t2.U0J Note circulation 2n,5.-iS.tOJ 28.404,00 2S.H7ii.COO Public Deposits iii.inj.txu 2:..5»;.0i» W.757.00J Other Doposits 40.C01.0U0 i9.371,'J0J J-J.USti ,00 J Proportion of reserve to liabilities ... . 30.71 43,30 <3 ,, 2 GOVEHNIIENT SEODEITIES. Thel followine are'the latest nuotntlom tor _ Government tecuritiea. tvltb a comparison of those rulinjr last week —

BAXK ItATKS OP DISCOONT. The ißank of England rate was, on December 1, 1910, lowered from 5 to 4i per cent.; on January 27 it was lowered" to 4 per cent., on I'ebruary 16 to 3J per cent, and on March 9 to J per cent. On September il it was advanced to 4 per cent., and • on February I! it was reduced to 3S per * cent. The Hank of France rate was reduced from 3J to 3 per usnt. on January 23, 1908, and continued at the tatter tigurc until September 21, 1911, when it was raised to 3} ner cent. The Imperial Hank of C»3rmany reduced its rate from 5 to 45 per cent, on February 6, and on February 19 the rate was further reduced to 4 per cent. On September 19. the rate wrs raised to 5 per cent. MAHKET BATES OF DISCOUNT. : The followine are the market rates for best three months' bills-.— London Paris Berlin rate. rate. rate. percent, percent, percent. This week 3J 38 411-16 Last week 3 7-16 3 43 Last year 2 5-16 21 U Short loans ar3 quoted at i\ per cent., as " compared with 3j per cent. las., week, and ' 3 ner cent, last year.

[ COLONIAL AND OTHER PRODUCE. . Wheat—The market has a, holiday tone, but sellers are holding for full prices; i •»$. 9d. is asked for New South Wales off coast; aßs. Gd, for South Australian, April, and Victorian March shipments; 38s. 6d. , has loan paid for parcels from three ports, , -Jlarcli shipment, and 375. IOJd. ditto for , April-May shipment. There is fair inquiry , lor. Australian on spot at 41s. to 425. Flour is lirni, but inactive. ,Oa:s.—The market is strong. La Plata Jlarch shipment, 18s. 10£ d. Butter.—The poverty in the industrial centres is depressing the butter market. Danish, 12is. to 1305.; choicest Aua ralian 116s. to 12C3.: unsaltod, 118s. to 1225.; secondaries,; 112s to 1145.; choicest Xew Zealand, \,f- }" ,H' ls ' ; ""salted, 1255.; Argentine, 110 S. to IiOS. Choose is quieter. New Zealand, 735. to 745. Sugnr.-Germau bee':, 88 per cent, net titre, 2d. lower, at Ks. 4d. per cwt.; first marks granulated, f.o.b. llamburg, unchanged at 17s. 4d. Bradford Tops.—The market is firm, but quiet. Hemp is quiet and unchanged. Jute—April-May shipments, £24 per ton. Cotton.—April-May shipments, 5.93 d. per lb. Rubber is quoted at 4s. lid. per lb. Rabbits arc qui;t and unchanged, ME METAL MAKKETS. Copper—On spot. 3s. 9d. higher, at £70 Is. 3d. per ton; three months, 335. 9d. higher, at £70 18s. 9d. Tin.-On spat, £4 10s. higher, at £197 lCs. pcrt.-m; three months, £3 10s. higher, at Pig-iron, sd. higher, at 51s. lid. per ton. SpeS:cr, 10s. higher, at £25 10s. per tim. Copra.—The market is irregular. South *3ea, in bags, £25 15s. per ton. FROZEN MEAT QUOTATIONS. By Telegraph-Press Asoociation-Copyrlehl ,„, r ~ „ London, April 5. The Incorporated Society of Meat Importers Sniithlield market quotations for the undermentioned classes of frozen mei't are based on actual sales of not less than ono hundred carcasses of mutton or lamb or twenty-live quarters of beef of fair average quality. The quotations are not selected lines, but for parcels fairlv representative of the bulk of the shipments now on the market. The prices which foliow are on an average a farthing per lb. more than the value ex ship, this difference representing an average cost in cjponses. handling, conveyance, and seiun" the meat:— ~ ~ Mar. 30. April 5. Mutton— d. d. Canterbury, light — — Canterbury, medium — — Canterbury, heavy — _ Southland _ _ Nor:h Island, best 315-16 315-16 North Island, ordinary... 3 9-16 3 9.16 Australian, light — — Australian, heavy 3 3-16 3 3-16 River Plate, light — _ River Plate, heavy 3 3-8 33.8 New Zealand ewes 3J 3,1 Australian ewes jj 31 River Date ewes 3J sj LambCanterbury, light 53 53 Canterbury, medium 53 53 Canterbury, heavy 52 £3 Southland _ 1 North Island, solcctcd ... 5 3-8 5} North Island, ordinary... 5t 5 i_ig Australian, best 4J 45 Australian, fair 48 43 Australian, inferior 4$ m River Plate, first 4S 45 River Plate, second 4 3-8 4 3-8 Beef- ' New Zealand, ox fores .... 3J 3t New Zralaud, ox hinds .... 4 4 Australian, ox fores 3 ' 3 Australian, ox hinds 3 9-16 33 .Iliver Plate, ox fores ... 3 31.1 c River Plate, ox hinds ... 3 11-16 39 River Plato, chilled fores 3ft 3j River Plate, chilled hinds 4J 45

NORTIf OTAGO MARKETS. (By Tclegraph.-Press Association.) Otago, April 6. The advance in wheat reported last week has been fully sustained bv this week's sales, but business was curtailed by the two days' holidays. Some fair-sized lines changed hands a': from 3s. 6d. to 3s. 6»d net at country stations, for both mixed lines and straight lines of velvet. A fair amount of business has been done in Garten oats at Is. lid. and Is. lUd. for *15 grade, and Is. lljd. and 2s. for'A grade nil net at country stations, and according to length of railage. Ilusin-ffi in potatoes is still on a comparatively small scale, prices being (lrm. from £3 2s'. 6d 'to' £3 ss. net on -truck, and to £3 ss. net'delivered at store.

[ Variations — conijiaiod Pries. with ! last week. £ i. el. ; ' 2*% Imi>erial Consols 78 -J 6 •>= f,i lm-iic" 4 ,.N'.K.\V.l!)33Jan.,July 10J 10 0 ; bi cl "iiRe'l .i , YS.V . IMj Ajil.-Oet. Sli'O 0! -Vs lower v 'r , lSi'," ,J ", l) ' )0 - " u Ui'clmniwd Ji ,. Vic. KUMiJan.-JuIv , SM ill (J UiK'Uan"0 1 Js „S.A. l!'lli.roii.»luly . 9/ 0 (II tii-liii'iuod J ..l)ldl!h!M.jiiii.,iui yi Si i) o U clmtKod , -Nf waJlajr-JCov. ™ JO 111 klowcr i "vi",,!;9 , ' an -7 ,1,| J' WHO! Unclnwjccl J ,..Y/. Hi. Apnl-Oct. ! M 10 III fndinnwd ", ! "i--'!M;^ 0May - Nov ' L4,u °| Slower 1 M 0 u ! -Ate. lower »>,.las. IMOJan.-Jiily ! l-li 0 0| Unclmngo.l a to I) (l! Unrlinni'otl