COMMERCIAL ITEMS.

Dominion, Volume 5, Issue 1421, 23 April 1912, Page 8

COMMERCIAL ITEMS.

INVESTMENT SHAKES ■ There were no transactions in investment shares yesterday. The buying and selling Quotations were as under:— Buyers. Sellers. £ f. A. X s. d. Wei.'. Deposit 0 7 0 - Well. Gas (£10) - 18 2 6 Chrislchun-h Moat —' 15 7 6 Wcstpart Coal 17 0 17 6 Westport-Stoekton 0 2 6 0 3 0 U'<-land-o')irien — 16 9 N'.Z. Powell Process - 12 6 Taringamutu Totara — 2 6 o O. It. Dante. Ltd - 10 0 Donaghy Hope and Twino — 12 0 Golden Bay Cement — 1 i 6 Sharlaud's ordinary — 14 6 The Stock Exchange will be closed to-day, so also will the banks and insurance offices. BULLION MOVEMENTS. • An interesting: point mentioned in Messrs. Samuel Jlont.%'u and Co.'s latest bullion circular is that during February the net import of gold into India amounted to the larg-2 suni of £5,174,6 CD. The bulk wob imported in the form of sovereigns, which i were available for circulation if the country so desired. The gold in the. currency I reserve, however, received the greater portion of the imports, and against it there was corresponding emission of rupees, showing that the country is a better judge of its requirements than some theorists. In rogaxd to silver this authority! states that the market continues in a, restless condition, no two days in succession havo both the cash and forward quotation remained unaltered.,/ On the whole, China appears to be the,'dominant factor, as although very few purchases have been made direct, a considerable amount of silver has bcou bought for that quarter from the Indian speculative group, and these sales wore immediately covered by them in London. This activity of China, so soon after the New Year, is unusual; possibly the shadow of approaching loans on account of the new Chinese Government is being cast in front. The spasmodic character of supplies also has had a share in creating an erratic market—on some days the contribution from the United State* has been a mero' driblet. A uervous apprehension has existed for some time that the month of March might hold another squeeze for delivery in store. The vory fear of this has caused such great preparations to be made that only an entire paralysis of the fncilitics of transit could bring about such a position. The premium now existent on spot silver is quite artificial. A hi'.ge stock of about £2.000.000 lies interned in London, mainly the property of, and pawned by. the Indian speculators, but the amount carried by this group by means of forward contracts is probably smaller than on the occasion of the last two corners. Therefore, prossuro exerted by them to form a corner would have to be more in the form of fresh purchases, a proceeding not so easy as taking up the silver on forward contracts at maturity.

WELLINGTON DEPOSIT COMPANY. The directors of the Wellington Deposit, Mortgage, and Building Association in their report for the year ended March 31 last, state that the net profits on the year's business, after setting aside a sum for contingencies, was £959 4s. 9d., which, in addition to £341 • 10.5. 6d., brought forward from last year, makes a total of £1300 163. 3d. The directors recommend that this sum be applied.as follows:—The payment of a dividend for the year at the rate of 4 per cent, per annum, which will absorb £1000, the balance—£3oo 15s. 3d.—to be carried to next yoar's account. It has boon deemed prudent this year to make provision for a possible loss on some securities, the interest payments oh which are in arrear - „ _ ..

Two directors, Messrs. W. Cable ajid W. Watson, retire, and,- being eligible, offer themselves for re-election. • .

The retiring auditors,, Messrs. E. T. Badham and J..JI. G. Rowley,, offer themselves for re-election.

Customs duties collected at the port of Wellington yesterday amounted to £2:80 19s. Id. STOCK QUOTATIONS. (By Tolecraph—Press Association.) Dunodin, April 22. Stock Exchange quotations:—Dredging stocks: Blackwatcr, buyers 7s. 6d.; Electric, buyers. 45.; Manuherikia, sellers 75.; Bisc and Shine, sellers £1. Mining - stocks: Consolidated Goldfields, buyers 10s., sellers 155.;. Old Ilauraki, sellers, Is. 10d.; Kuranui Caledonian, buyers ls„ sellers Is. 4d.; May Queen, sellers Is. 3d.; New Sylvia, sellers Is.; New Zealand Crown, sellers 2s. Bd.; Waitangi, buyers lid., sellers Is. 3d.; Talisman Consolidated, buvers £2 2s. 3d., sellers £2 3s. 6d.; Waihi, sellers £1 17s. 6d.; Waihi Grand Junction, buvers £1 4s. 6d., sellers £1 ss. 9d.; Waiotahi, tellers 3s. 3d.

Investment stocks: Bank of New Zealand, buyers £11 65.; Union Bank, buyers £62 155.; National Insurance, buyers £1 IBs. 3d., sellers £1 18s. 9d.; South British Insurance buyers £3 155.; Standard Insurance, sellers £1 10s.; Union Steam Ship Co.. buyers £2 Bs.. sellers £2 85. 3d.: Westport Coal Co., buyers £1 7s. Bd., sellers £1 Bs.: D.I.C. (pref.), buyers £1 35.; Dominion Rubber, sellers 7s. 6a. (prcm.); Milbum Lime and Cement (£1), sellers £1 IBs. 6d.; Mosgiel Woollen Factory, buyers £3 6.-.; New- Zealand Drug Co. (£2), huj-ers £2 9s. 6d„ sellers £2 10s. 6d.; "Otago Dnilv Times," buyers £2 lis. 6d. LONDON MARKETS. Messrs. Dalgcty and Company, Ltd., Wellington, have received cable advice from their head office, as follows:—Frozen meat: Since our last cablegram the market for all qualities is firm, with an improving demand, and change, if any. is in favour of sellers. Tallow: Since our last cablegram tallow in general is 6d. to 9d. per cwt. higher. HIGH COMMISSIONER'S CABLE. The Department lias received the following cablegram from the Iliph Commissioner for New Zealand. London, dated April 20, 1912. (Note: Quotations, unless otherwise specified, arc average market prices on spot):— Jfiitloii.-Tlic market is rjuict, but firm. Heavy-weights are difficult to sell at on average price of 3*d. per lb. A uood demand continues for lighter carcasses, selling at an average price ot 4d. per II); DwP « 3id. per lb. Lamb— The market i,= steady, with a very gooz demand. Prices are firm at the la.'t rates quoted. Canterbury 53d., other ihan Canterbury, 5 3-Sd. per lb. Beef.—Til? market remains firm. A small supply and a good demand continues. New Zealand binds. 'Id. per lb.; New Zealand fores, lid. per lb.

Butter.—The market is very depressed. Buyers of butter are holdin? bock expecting pricos to go lower. A largo decrease in consumption is reported on account of taleh prlc!s ond labour troubles recently. Tm ttvorfM price for the week for snaky «it New Zealand buttw, p« cwt. U UU.;

Australian, U2s.: Argentina, UOs.; Danish, 1265.; Siberian, 112s.

Cheese—The market is quiet, prices slightly weaker. Stock is moderate. The average price for the week for finest New Zealand cheese, per cwt. is 725. ileiup.-'J'lie market is steady but no demand. New Zealand, good fair grade, per lan, £21 10s. to £21 las.; New Zealand, fair grade, per lon, £20; for any positions, tor Manila the market is firmer. Fair current Manila, spot, per tan, £21 10s. l-orward shipment. £21 los. The output from Manila for the week was 24,003 bales. Wool.-The market is quiet but steady. Current quotations for llradfonl 'lops.— 36'?, low crossbreds, Is. Id.; 40s, low crotsbrcrl" Is. lid.; 44's. medium crossbred?. Is. 2d.; M's, halfbreds, Is. 5Jd.; 56's, ouarterbreds. Is. 73d.: 60's. merinos, 2s. Oitl. llons.-Thc market is firm with improved demand. No change in prices, hnglisll, £15; California!!, £12 per cwt.

LONDON WOOL SALKS. FHICKS UNCHANGED. Bj TfleEripU-lTesa Apsoemiion-Convrlehl London, April 21. At the wool sales there was pood competition, buvers from the Continent and Yorkshire operating keenly. Prices were unchanged. The following are prices realised for the fleece portion of Ihc clips named:—"Glenside," top price ll*d. per lb., average 9jd.; "Ghristchureh." top price lid., average 9Jd.: "Otoraia," top price 10Jd., average 9bJ.; "Oringi," top price 9id., average 9d. There have been catalogued 111,028 bales, of which 100,217 bales have been sold.

Messrs. Levin and Co., Ltd.. have received cable advices from their London agents that the following clips have been Bold at the soles now current, on their account. The prices named being the average price realised for the fleece wool in each inCross keys A, Castlepoint, 3 U-16d ; Te Hoe, Alfredton, 9id.; -NM.K, Mastcrton, 9 7-16 d.; Fernlajids, Masterton,,BJd.: RAN, Mastcrton, 8 15-16 d.; Ma-rohau, Wanganui, 8 11-16 d.; YVBYV", Wanganui, 8 13-16 d.; CM, Fcatherston, 11 7-16 d.; Kahumingi, Masterton, 10 5-16 d.; W McL, Martinborough, lOId.; Glenmorven,' Marton, 8 13-16 d.; Otauiri, Marton, lid.: H BrosTanc, Pahintua. 9 13-16 d.; Cross Keve, Masterton, 9 15-16 d.; Broadlands, Linton, 10.3 : 16d.j Jh, Carterton. 10jd.; S L in square. Pnhiatua, 9 3-Bd.; WAI3. Carterton, 9Jd.; PRE/T, Mangahao, 8 £-16d.; Otawhao, Kumeroa, H.D., 9d.

fKOZEN MEAT QUOTATIONS. By Telegraph-Press Astociation-Copyrlehl London, April 21. The Incorporated Society of Meat Importers' Smithfield market quotations for the undermentioned classes of frozen meat are based on actual sales of not less than one hundred carcasses of mutton or lamb, or twenty-five quarters of beef of fair average quality. The quotations are not selected lines, but for parcels fairly representative of the bulk of the shipments now on the market. The prices which follow are on an average a farthing per lb. mora than the value ex ship, this difference representing an average cost in expenses, handling, conveyance, and selling the meat;— April 13. April 20. 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 ..; 31 3} Jiiver Plato. light - River Plate, heavy 33-8 37-16 New Zealand ewes ......... 3 3-16 3 3-16 Australian ewes 31 31 Hiver Plate ewes 3J 3 3-16 LambCanterbury, light 55 53 Canterbury, medium 53 53 Canterbury, heavy 53 53 Southland — - North Island, selected .... 5 3-8 5 3-8 North Island, ordinary ... 5J 51 Australian, best 5 5 Australian, fair W H Australian, inferior' H <3 River Plate, first 5 5 River Plate, second 41 «j BeefNow Zealand, ox fore? ... 31 3} New Zealand, ox hinds ... 4J 41 Australian, ox fores 3 3 Australian, oi hinds .... 33 4 Hirer Plate, ox fores ... 3J 31 River Plate, ox'hinds ... 315-16 41 Itiver Plate, chilled fores 34 i\ liiver Plate, cliilled hinds 51 42 Rabbits.—The market is quiet. WHJ3AT AND FLOUR. London, April 21.. The wheat and flour afloat for the United Kingdom totals 4,250,000 quarters; for ths Continent. 2.510.000 uuarters; Atlantic shipments, 191.000; Pacific shipments, 15,000. Tho total shipments to Europe during the week amounted to 1,625,000 quarters, including 759.000 from the Argentine, 40,000 Russian. 180.000 Danubian, 164.C00 from India, and 162.000 from Australasia. Three Australian cargoes of wheat sold at 40s. 6d., 405., and 395. 9d. respectively. miNINQ NEWS. ' WELLINGTON SHARE MARKET. No transactions in mining shares took place yesterday at the morning call, but in the afternoon a little business was done. The market continues very dull, and the pressure to sell is forcing values down. The sales recorded wore as under:— Talisman, 425. 9d., 435., 435. (second call). Waihi Grand Junction, 255. (second call). Waitangi, 12ld. (second call). The buying and selling quotations were as under:— Buyers. Fellers. £ s. d. £ s d. Blackwn.ter - 14 0 Keep-it-Daxk 18 3 — N.Z. Crown — 0 2 9 Talisman 2 3 0 2 3 3 Waihi 115 0 - i Waihi Grand Junction ... 1 4 9 — Waiotahi — 0 3 2 Wnitanei 0 10 0 11 Taranaki Petroleum — 12 0 STOCK EXCHANGE. (By Telegraph.—Press Association.) Auckland, April 22. Business done.— Occidental, Is. Id. AVaiotahi, 3s. Crown, 2s. 7d. Waihi. £1 15s. 9d. . . . ' Kauri Timber Company, 16s. Bd. Auckland Trams (ord.), £1 ss. Business done at the 3.15 p.m. cell was as follows:— Waiotahi. 2s. lid.. 2s. 9d. N.Z. Crown. 2s. Bd., 2s. 7d: Talisman Consolidated, £2 3s. Waihi, £1 15s. 9d., £1 15s. 6d. . Waihi Grand Junction, £1 ss. New Waitnia, Is. Waitangi Consolidated, Is. Old Hauraki, Is. 9d. Taupiri Coal, £1 2s. 3d. Wcstport Coal, il 7b. 6d. ■ Northern Steam (paid), 14s. lOd. Dunedln, April 22. The following sales were reported on the Stock Exchange to-day:—Waihi, £1 17s. 5d.; Waihi Grand Junction, £1 ss. 9d.

WEST COAST MINING. • Roofton, April 22. Dredging return: Pactolus, 390z. 7dwt.for 124 hours.-Keep-it' Dark monthly 51 feet on 6tone in No. 8 level—total 150 feet —and are cutting ncross it-towards hanging wall. It is fully 30 feet wide at this place, and not yet through it. In the south drive, No. 7 level, there is. 18-inch stone with geld showing. 768 tons of ntiartz have been crushed for a return of 1620z. 16dwt. melted gold from battery, and 90oz. lOdwt. from cyanide; total, 2530z. 6dwt. Some little trouble has . arisen through machine drills having to be worked by one man, instead of two, but it is not emected to be serious. . The Consolidated Goldfields Company want men, but tho union is warning them off.