COMMERCIAL ITEMS.

Dominion, Volume 5, Issue 1426, 29 April 1912, Page 8

COMMERCIAL ITEMS.

INVESTMENT SHAKES A strong demand for Union Steam shares set in on Saturday, and sales wer:? raado at 505., 535. 6d., 545. 3d., 543,, and 545. 6d. Obviously whatever negotiations were pending, cither for sale, amalgamation, or simple combination, are now near completion. The buying and selling quotations wens as under:— Buyers, Sellers £ b. d. £ s. d. Bank New Zealand 11 5 0 — National Bank — 6 2 6 N.Z. and Itiver Plate 2 0 0 — Itisbarne Gas — 216 6 Standard Insurance — 1 10 0 Union Steam 214 3 214 6 Taupiri Coal 12 0 — C. 21. Ban lie. Ltd. — 1 n P Donatrhy Hope and Twine — 12 0 Golden Bay Cement — 14 3 N.Z. Con. Dental 10 3 rSharland's ordinary — 15 0 PENDING SHIPPING CHANGES. The "Financial Times" of March 22 savs: With reference to the recant rise in the price of the deferred stock of the Peninsular and Oriental Steam Navigation Company, which closed last night at 325, a 'furtlier advance of about 20 points having occurred yesterday—and to the statements which have appeared in theso columns regarding a general working arrangement between the leading companies trading to and from the Antipodes,' it now transpires that tlio negotiations have reached a stage which justifies the statement that the numerous points at issu.? will probably be settled in the near future. The scheme under consideration is so comprehensive in its ramifications that the arranpoir.;nt of the minor details has proved to be a very complex matter, but it is now known definitely that practically the whole of the shipping interests which have hitherto been associated in what are known as ths Australian and New Zealand "Conferences" have come toan understanding which will put an end to all sources of friction, and also to excessive competition for a considerable period of years. Hith?rto it has been (resumed that companies concerned iu this matler were almost exclusively those trad- j ing from the Thames or Southampton. l!e----cently, however, it has lic,3n decided to include lines trading from other ports ill the United Kingdom, and in particular to invite certain Glasgow interests to associate themselves with the arrangement referred to. The leading members of the shipping community iu London were last night of opinion that, if the scheme which is now under consideration be brought to a successful issue, the prosperity of the participating interests during the next few years will be in excess of what they have experienced for a long time past. As already stated in th.2se columns, the intention is that, the P. and O. Company shall, cither by shareholdings or by some alternative method, be placed in a position of indisputable authority on this route, and it will be left to that company to reorganise thri Australian shipping trade on a basis which, while giving to onch of the contracting linc3. their due participation in the amount of business offering, will extinguish Kite-cutting and othe inimical competition.—This may help to explain, the roil:- I it'll' of the market for New Zealand Shipping shares and Union Steam shares. OCKAN ACCIDENT AND GCAKAXTKE COUI'OHATIO.N. 'Hie report. of the Ocean Aceitlcnt and G'uaniufve Corporation, Ltd.. lor Mj? year end-id December 31 last, states that the revenue for the year amounted to £1.924,191. Of this, the total premium income, less re-insurances and bonus to assured, amounted to £1,833,002. Tin.' income from the investments, after milking pro-! vision for depreciation of leasehold:. l , was , £70,024. The compensation paid and provided for, including .incidental expenses, amounted to £1,016,93-1.• The investments and other asssls amounted to £2,392,751. After debiting all eharp?s nnrt expenses there remains, including the amount i brought forward, a credit bnkmre of ! £1,151,680, le.s.« amount to he .««t aside as proportion of premiums unearned £627,078, •[envine? available revenue balance £524,601. The directors propose to pay {herefrom a dividend of 4*. per share on the part-paid pliare-; and £1 per slum on the fully-paid .shores for the year, together with a. bonus of 3e. and U«. per glmre respectively. The bclauoo will amount to #529,032, which -will be earricd forward*

lIIC KAUltl TIJinKJ! CO. Mr. Clias. Onyoii, in ronjiiin-tion with Dr. liiiynei- and .Mrs. Kayiier (Auckland*, is iiliout to Boat Tim ffu-1 Coast. Timli-r Cu., IjJil., or Kiire K:ire, Manakau Ik-ads. There is slated to lie 00.C00.000 feel or Bißfiii kauri iu the e.-tale, also 3.CC0.0C0 feet in lojjs at (lie mills, unci aliout 500.CC0 fret cut anil in the yards. -Mr. Onyon report-' Unit lie Im.s just sold the (ioverumeiit, 1.D00.C00 foot at tho same pries he wa;. getting for kauri iu London, Liverpool. Manchester, anil Glasgow a few years nr;o. lie has also sold the Hlair's, ' of .Melbourne, 5C0.000 feet at (lie same price. Tt is announced that tho new company will take in 10.0C0.003 feet extra limber'a<l jamill to its working*. The tramways and rolling-stock on the property are reported in lie vilucil at £7(100: while the capacity of the present mill is said to he the largest in Xre /.oaland. It is proposed to register the company with a capital nf XM.MO-nwiiLT.-i taking 25,000 fully paidup shares in the new company. Mr. Onyon intimates that lie will ftppoint his broker:! for tlawkc's liny. Wellington. Dunedin, ami Auckland iu the course of a few days, and will leave Tor the northern city about Friday or Saturday if possible. ' crSTOMS. Customs revenue collectert at tli? port of Wellington on Saturday amounted to £660 4-i. 3d., Uμ total far the week being £12.149 19i. Bd. Tho retui-us for each or the pnsl eight weeks, compared with t'.ie. iigures for tho corrcspoudiijs periods of last year 6Uow as under:— 1512. 1911. £ £ March 9 10,978 13,225 March 16 26.253 13.890 March 23 9.283 21,124 March 30 .... 25.256 8.478 April 6 i 1C.597 23,145 April 13 10.972 10,650 April 20 22.803 16.745 April 27 12.150 12.111 136,292 124,608 The heer duty collected during tho past week amounted to £220 17s-.. n= ngninst £328 14.;. for the corresponding week of last year. FKILDIXG MARKET lIEPORT. On Friday Messrs. A. H. Atkinson and Co., 1,1 d,. or Pcilding, fold thi? usual entry of poultry and pigs. Porkers sold very well, but for stores and wranrre tbe demand was not so brisk. The report I adds:—Sound table potatoes are inquired for. and we have disposed of som? large parcels at £5 per tan. Algerian oats arc worth 3s. to 3s. 3d., and good fowl wheat, ■>,;. Cd.; barley, 3s. 6d. per bushel. We cleared a large quantity of general auclion lines at Rood values. Weancr piKs, <s., -Is. 9d., ss. 3d., 65., 7s. 3d., to 1.-.; slips, 125.; lipcht porkers, 225-. 6d. to 235.; heavy, 3Cs., 31s. 6d., 555., to 35s fid: aged hack and harness horsos. £5. In" poultry, old birds made Is. 6d. to 2s. 6t!. per pair; halfprrown cockerels. Is. £d. to 2s-. 3d. roosters, 2s. 3d.. 2s. 6t1., 35., 45., to 55.; duck?, 3s. 6d., 55., to 6s. 6d. Fruit and vegetables were in short supply, pumpkins and marrows soiling at top prices.

HIDE AND SKIN* KKPOKT. Messrs. Dalgcty and Co. (Paluicrston branch) report:—At our usual monthly sale last week we had a. fair catalogue, which mot with keen competition from a good attendance of buyers. Prices for nil classes v.?re on a. par with last sale rates. Wool: Crossbred medium, 7Jd. to Vsi:.; coarse, seedy, and inferior, from 65d. to 7d.: lambs' wool, from 7Jd. to HA.; seedy and inferior, 6Jd. to 7id.; clcack'wool, 6d. to 7(1.; black wool. 6d.: bellies rtnil pieces, 5(1. to siri.; inferior crmo.hings, 4>.d.: looks, 3id. to ■!(!.; locks and pieces, from 4!d. to 4fd. Sheepskins: Crossbred full-wool, 6Jd.; coarse, medium to fine, 7d.: woolly lambs, 63d.; shorn, 4:,' d.; half-wool crossbred, 6(1. to 6}cJ.; quarter-wool, 5Jd. to 53d.; pelts, 4d. to 5d.; inferior mid damaged, lid. to 2{d.; dead, 5Jd. to SJtI.; dead hoggets, 43(1. Butchers' green or part dry and salted, at each:—Full-wool crossbred, to Bs. 6d.; heavy half-wools, from 4s. to 4s. 6d.; otters from 3s. 4d., 3s. Bd., 3s. IC<l., to 3s. lid.; quarter-wool, from 2s. 5d.. 2s. Sd.. to 35.; woolly lambs, 3s. 4d. to 3s. Bd.; shorn, is. od. to 2s. 2(1.; bare pelts, Is. 3d. to Is. 6(1. Hides: Ox heavy, 7Jd. to 7 3-Bd.; medium to light, 63d. to 7d.; cows, best lines, 63d. to fc'd.; medium. 6}d.; bulls, s*d.; yearlings, Cd. to 6Jd.; cow and ox cut ami slippy, from 4(1. to sld. Homo hides, small, to 6s. Calf, best lots, IOd.; good, BJd. ; inferior, 7id.; cut and slippy. ,from 4d. to Cd. , Sundries: Tins tallow. 235. 9d.; horsehair, Is. 7(1. to Is. M. per Ib. Mr. Hugh lioterts, of Feilding, reports on his i monthly sale us follows:—I submitted a fair catalogue to a large attendance of buyers. Competition was keen for all lines offering, price.- , being on a par with late ratos, with the exreption of inferior skins, which were easier. Wool: Fleece, 71(1. to 7«d.; Jambs, 7(1. to 83d.; seedy, nieces, 23d. to 3d.; dead, 6d. to did.; black, sjd.; locks, 3Jil.; bellies and pores, «d. to 51d.; crutchings, sd. Skins: Crossbred medium. 63d.; coarse. 5Jd. ; bro, 33d.; lambs, 6d.; shorts, 4J(1.; quarter-wools, Sid.; half-wools, 5Jd. to 6d.; dead, 4d.; pelts, 3Jd.: dump skins, at each, !s. 7d., 2=. 6(1., 2s. 9d., os. Id.. 3s. 4(1., 3s. 7(1., 4s. 7d.; lambs, shorn. Is. 5d. ; woolly. 2s. lid.; jalted quarter-wools, Is. 9(1. to 2s. 3d. Hides: Calf, medium, BM.: rough. 7(1.; douiaged. ?M. to 53d.; yearlings, 6Jd.; cut, Md.; but. ox, lid. to 7,'. d.; cow medium, 6Jd. to 63(1.; settlers. 4jd. to 5Jd.; damaged, 4jd.; bull, slippy, ojd. Tallow, in casks, 255.: in tins, 245.; horsshair, Is. 61(1.; inferior, Bd. i UNION STEAM SHARKS. (By Telegraph-Press Association.) Dunedin, April 27. Sales of Union Steam Ship shares were reported on the Stock Exchancc to-dny at £2 10s. and £2 lOa. 3d. ' NORTH OTAGO MARKETS. Oamaru, April 23. A considerable quantity of wheat changed hands during the week, the prices being ou a parity with those ruling (luring, the previous week. For red wheats, about a halfpenny is offered, as against velvet, and velvet sells at 3s. Bd. to 3-1. 9d., the bulk of the sales being at 3s. Bid. net at 'country stations. As low as 3"s. 7{d. was paid for tuscan, but the average w-is 3s. ed. net at country stations. Oats ar* not offering largely, and maintain their values. A grade Cartons sell at 2s. Id. to 2s. lid. net at country stations. Milling Cartons sold,at 2s. OJd., and B grade ami good feed Cartons at Is. lid. and 2s. net at country stations. Duns here sold at 2s. 2d. net at country stations and ma'tins barley sold at from 4s. 2d. to 4s. 3d. net. Sales of oatsluaf chaff have been made at £2 15s. to £3 net. The bulk of the business in potatoes duriii" the week has heen done at £5 to £5 ss. net. but, at the latter figure, no buyers can bow bo found. LONDON WOOL SALES. 11l leleeraph-i'reL'3 AEfocinii.iii-Cnnvrleh! London, April 26 At the wool sales thsre was a. strong market, and competition was well maintained.