COMMERCIAL ITEMS.

Dominion, Volume 5, Issue 1434, 8 May 1912, Page 10

COMMERCIAL ITEMS.

INVESTMENT SHAKES. A sale of Wcstport Coal shares at 295. was the only transaction recorded yesterday. The buying and selling quotations were as under Buyers. Sellers. £ s. d. £ s. d.' yank of New Zealand... 11 10 0 — National Bank — 6 2 6 Well. Pcposit .0 6 8 .0 7 8 Christchurch Gas — 9 10 Gisborne Gas -- 2 16 0 Well. Gas (£10) - 18 7 6 Ohristcluirch Jleat 15 2 6 15 5 0 Meat Export- (525. 6d.) — 3 0 0 Union Steam 2 8 0 — Well. Woollen (pref.i ... — 219 0 Taupiri Coal 110 12 0 Tioyland-O'Brifcn — 18 6 Taringamntu Totara. — 2 £ 3 0. sf. Banks, Ltd - 0 19 6 Golden Bay Cement — 14 6 Manning and Co — 4 10 0 N.Z. Con. Dental 10 0 110 Shariaud's ordinary — 13 6 PROMPT SETTLEMENT. According to the "Financial Times," less than a week after the Oceana, was wrecked cheques to cover tho insurance of the threequarters of a million bullion with which ahe foundered were sent to t.he banks, and others c(lectins the insurance. , This prompt payment establishes a record. The four principal banks with which the consignments were covered arc the Chartered of India, Australia, and China, tlio HongKong and Shanghai, the Mercantile of India, and the Natioua' of India, and there are also other banks which insured for small amounts. All duly received the cheques for the different amounts to which they were entitled from the underwriters at Lloyd's, and from the Alliance, British and Foreign. Royal Exchange. North China, the Union of Canton, and other insurance comnanies. The cheques were received in exchange for the insurance documents.

There is a disinclination on the part of the banks to dis-.'lose tho nrccise amounts which each receives, but it is understood that a cheque wn.s forwarded for £200.000 to one of the banks, and that the amounts ranecd from that- down to a few thousand pounds. Where salvage operations, as in the case of the Oceana, are to lie undertaken, underwriters are justified in law not to respond immediately to tho claims of the insured, but in this irtstance there seems to have been almost rivalry in seeing liow quickly a settlement could Ijo made. The result is that in six days, with tho exception of a few ccmparativelv t.rifling obligations, tho whole matter of insurance was disposed of. Jt- is believed that of tlic total gold and silver in' the vessel, amounting to £747.690, about .£374.000 was insured with the companies and £360,COO with underwriters at Lloyd's.

popularity of pictuki; sjiottr. fiomo idea. of the degree of popularity that has bc?n attained by moving pictures in the United States is afforded by the fact thai in this moans ol public amusement an aggregate of ,£2O,OCO.COD has been invested. It has been calculated that tlu shows are attended daily by no fewer than 15,000,000 persons, their comfort and entertainment being provided for in 12,000 theatre and halls. It is also declared that there a.re in the States something like 3,500,000 enthusiasts who are regular patrons of tile, picture theatres. On the basis of theso statistics it is reclionsd that as much as £150,000 passe? each day from the pockets of the people into the l;inematograph promoters treasuries, and that ill the course of a twelvemonth the aggropttc so transferred reaches approximately £55,(!G0,0C0. There can be no doubt that a considerable portion of that total is contributed by persons ot ver> modenuv means, and this has led to a revival of the cry of "improvidence of the poor" in some btates. In Lawrence, for instance, where r;eantly ft strike of mill operatives resulted in a loss of more than £200,0K1 in wages, etc., and where local tradesmen were driven to the verge of bankruptcy, the moving pietur; shows continued to be well patronised. It is contended by those who deprecflto the enormous popularity of this form of public amusement that an inordinate amount of money is wasted annually by children and young people whose parents cannot afford the continual drain upon their resources, and it is true that the catch-penny entertainment has always got rich at the expense of the poor, lint against this argument it is pointed out that the moving pictures give at least a reasonable re turn for the money spent on them, ami whilst, cvih may iuivj been found, in a certain measure, attendint on plwwa operated in laige cities in

the United Stales when not. conducted updor careful and restrictive oversight, it is as-erted and on good grounds that niovill!' pictures hold edui-ii-lioual possibilities which far outweigh their disadvantages.

FOItKIGX TRADE OF FKAXCB. The lotal foreign trade of France in 1911 amounted to .£573,312X00, as compared with £536,234,000 in 1910, an increase of 5 ncr cent. This total was made uu as to import-? .£326,428.000 and exports £246,884,000, end while the former shows an increase of .-£39,496.000, there is a- fa-lli.ng-oir in t-lie latter of £2,4£8,0D0 as compared with the llrrures for the previous year. The United Kingdom >supplicd ,£40,832,!X'0, or 12.1t ncr relit., of the import:-, a,nsl received £49,880,000, or 20 per cent., of the exports, as ;t<ra ; tt:;t- .£37.?,12,C00 and £51,003,500 respectively in 1910. This shows that the diminution in the total value of the exports. as shown above, is very largely duo to the falling-oit in the exports to the United Kingdom. LOXDON" WOOL PALES. The close of the London wool sales was marked with extreme strength. Compared with the January .-erics some descriptions of wool advanced, and all classes Were decidedly firm. There is no doubt now that liad there been no coal miners' strike to disturb normal conditions, wool would have advanced appreciably. The future is not without its uncertainties, hut, taking all factors into consideration, there is 110 reason to suppose that- there will he a set-back in values: on the contrary, there is every probability that the July sales will register an advance. ' TRADE- IJT ALLEN STREET. Cheese.—The market continues fair. Medium, 7d.; loaf, 7?-d. Ncr lb. Butter.—l'rime milled butter is in excellent demand at ll{d, lb. Eggs.—Fresh eggs have advanced in value Id. per dozen, and now rule at- 2s. Id., with preserved at Is. 3d. per dozen. Supplies of fresh are short of requirements. lfams and Bacon.—Hams are now ruling at- 9Jd., sides 9Jd.. and rolls 10|d. for best fnetorv brands Maize—Values continue high. Wcllincfon rates are ss. 6d. ne' 1 bushel for best. ',unlit",". Feed Borlev—Values for feed barley are 3t>". 6d. Ncr bushel. _ Cape Barley—The market is dull, the rn'intr rate being 3s. 9d. to per bushel. Chaff—Tlri market has hardened, yesterday's rates beinir £5 to £5 6s. Ncr ton (sacks i"i for nrime, chaff. Straw chaff Is ruling £2 per ton. less than above. Oalc.—Heavy shipments of oats continue to be made to Australia, and the market continues firm. "A" Grade Gartens sell at 3s. per hushcl. "71" (Jraoe. 2s. lid.: Adrian. 3(1. t.o 3?. 7d.: Pun. 2s. lid.. 0-?tmcnl.~Tho demand i? steady. brnmi-; aye ruHnc at £13 IC*. tc £14 rcr ton. "Rolled oats lui-vc ndvaneod in value 6d. per dozen, and arc now ruling at with oMina, 6d. Pollard.'—There is n jrreafc searoif.r rt nollnrd at present, rurrent. prices nre. £? 10':. to £8 nnr ton. Vorv little obtainable*. Bran. —Thi.* rojmridi'y jOiovp no altera-ti'-n. prices being £5 ss. to £6. Onions —Owing to heavy shipments ti Australia, the market lias further ad.vancd. Prime tnMe onions ire worth £10 to .F.ii per ton. Medium and inferior arc quoted at I'd. per lb. , . T'olatoes-The potato marnct fia? still further advance l "!. The prices nov- ruling av. -P 7 to £7 10s.. sacks In. ex store. Vegetables.—Cauliflowers have advanced 7.5 per cent- in - value, end consignments ca.n now tie rcfommenchd. There is also an excellent- do man ft for "French heaps, and fair reins arc "btrinnhlc for na.rsinns and pumpkins. Cabbages continue So lM'l" low. Fruit.—Further f'lin men's of Island (iriww ca.me +i h-ud yesterday, t.rnn-Khir<-"d from the T-'une at, AnHtland. Rpnn'ios' arc heavv. a"'! low rales have lie acc°oie,i to ouit. Pcrs have advanced, end shipments' can be. r«cnmmonrt"d. Annies also show siens of imnrovvi-r. I,em"i= a*e almost, nunrorura'de. Regular ■mnplios ef na.ssion fruit, continue to come forward fro,-i Avl'l.md. a.m' n^simmons also coir.e from the same district. CUSTOMS DUTIES.. Customs revenfie collected at the port of Wellington yesterday amounted to ±,1073 2s. 2d. FROZEN MEAT. (By Telegraph—Press Association.) Christcliiiroh, May 7. The Brtish nud New Zealand Meat Company's London cablegram states:—Mutton: Canterbury, Id. to -lid.; North Island, o,d. to 33d. Lamb: Canterbury, 53d. to sjd.; North, 53d. to Sid. Beef: hinds, 4.U1.; fores, 3jd.

CANTERBURY GRAIN MARKET. cbrlstcluirsh, May 7. The local grain market is somcn-liat t'liict, as tlic offerings from farmers are not as large as they were. The recent Hrniuip fn the prn;c>> of v.'hoat at:d oats ins made growers less inclined to soli. Prices remain without change, both for wheat and oats. There is a good deal of shipping going on, principally of oats, to Australia. Oatshea-f chaff is firmer, and have taken place at £2 1/s. fid. to ,?3, at or near country stations. The potato market is a little firmer, though there appears to be some doubt as to what are the real values. Sales have taken place at, £4 12s. 6d. to £4 155., and for .immediate requirements more has been offered at handy stations. ARGENTINE SHIPMENTS. Tho Department of Agriculture, Commerce, and Tourists has received the following cablegram from Buenos Ayrcs, dated May 6:— "Tho following shipments of produce were dispatched from the Argentine to the United Kingdom ports during April, 1912 (compared with April, 1911):— 1912. 1911. Fro.ien beef, quarters 133.CCG 147.153 Chilled beef, quarters ltiG.Ctl) 160,037 Frozen mutton! carcasses- 15?.,W0 178.733 Frozen lamb, carcasses.;. 37.C'!) 61,208 Butter, ewt 2,8-9 — WHEAT AND FLOUR. By Telegraph—Press Association—Copyright London, May 6. The wheat and flour afloat for the United' Kingdom totals 4,250,000 quarters p for the Continent. 3.005.0c0 quarters; Atlantic shipments, 245.008: Pacific, nil. The toia! .shipments to Europe during tho v.eel; amounted to M20.f00 ouartcrs, including 626.000 from Argentina. 270,00!) Russian. 55.0C0 Dnnubian, 51.CC0 from India, and 70,C00 from Australasia. SILVER. London, May 6. Bar silver is quoted at 27 l-16d. per ounce standard.