COMMERCIAL ITEMS.

Dominion, Volume 5, Issue 1446, 22 May 1912, Page 10

COMMERCIAL ITEMS.

• . INVESTMENT SHADES. Thcte were no transactions in investment, share? yesterday. The buying and selling quotations were as uncicr:Bnyern. Sf-ller.' £ a. d. £ 6. d National Bank — 6 2 6 Well. Ga.= (£10) 18 \ 0 - Tanpiri Coal 113 1 2 0 Wcstport- CoaJ — 1 2 S Lcyla-nd-O'nrien — " Taringamutu Totara 2 8 0 2 10 0 Golden Bay Cement - 1 5 P W.F.C.A - 7 5 1 SHIPBUILDING. At the close of March the amount of tonnage under construction in Great Britain, as disclosed by Lloyd's Register of Shipbuilding, reached tho unprecedented total of 1,686,000 tons, 'l'he Aggregate of ■1,519,000 tons shown at the end of 1911 waa .regarded at tho time as phenomenal, hut the further increa>o of 167,CC0 ions, which has since taken place, shows that the exceptiona.l activity which characterised the Fhipbuilding industry during the latter part of HU has since made further progress. There is consequently no longer any room to doubt that we arc in the middle nf a. shipbuilding boom of greater magnitude than has ever been witnessed before, and the opinion is genoral that exception™ activity at the yards Trill continue for

some time. As might bo expected, Glasgow and Greenock hc.id the list ill tile matter or new shipping lonnag-2, although, with the sole exception of_ Barrow, in which case figures now published are the same as at the end of 1911, the increase during the past throe months has boon spread over the entire country. A particular feature of the returns now presented is the evidence afforded of the growing tendency to construct vessels of huge dimensions. This i: ; particularly noticeable at Belfast, where the total of 328,600 tons now under construction represents no more than 26 vessels. Further testimony regarding this point is to be found in the fact tii.it the Register on this occasion includes for the first lime as a separate item vessels aggregating 40.CC0 tons and over, three of which are now being put together. As regards the destination of alt this tonnage, a. considcrnbte criiantity will, of course, go to the colonies, not perhaps ns much as might be expected, the total shown in this connection being 75.600 tons. Among foreign nations for whom we are constructittfr new vessels, Germany conies first with <8.600 tons, while Norway follows with <4,C00 tons. One other point which calls for comment is that the amount of shipping now under construction for inclusion in "Lloyd's Register" is 1,400,000 tons, this total constituting a record in the history of the "Register." The amount of momy represented by all this activity is not- disclosed, but it, of course, runs into a phenomenal figure, and the more so as the costs of shipping construction have recently advanced very considerably. It is significant that while the coal strike may have delayed the completion of much of the ship construction work now in hand, it does not seem to have interfered with the number of new contracts coming forward, and this, more, perhaps, than anything else, demonstrates thr> complete confidence which exists among shipowners regarding the future.

A RIVAL FOR LINSEED OIL. When the soya, bean trade leaped into prominence a couplc of years ago fears were expressed lest the Indian linseed trade should suffer. The oil from the Manchnrian bean answers most of tho purposes of linseed oil, and has the additional advantage of being edible and convertible into vegetable butter. Further, the meal obtainable from the _ flour was claimed to ,be more nutritious thaai wlioaten flour, and the bean cake, mors desirable both as a cattb fodder and a manure than linseed cake. For a time the soya bean had things very much its own way. Mills wore specially constructed at Hull and elsewhere to deal with it; and Germany seeing that England, owing to her free-trade usages, was reaping practically all the benefit of the boom, took special steps to remove the duty on soya beans so that her merchants could compete on level terms with those of, England. And so the competition for the limited stock of Mn.neliurian beans spread. But Indian, linseed, instead of suffering, brought higher prices than ever. This fact, however, was entirely dn» to the short crops of linseed in Argentina and other great linseed growing . tracts, and there is good reason to .suppose that Indian linseed- will fetch inviting prices this season as w,ell. The demand for soya beans is for first-grade only, and is so insistent that prices have jumped up considerably. The trade has in consequence suffered an uncomfortable setback, the imports at some of the principal importing ccntres being short by thousands of tons.

THE COMPTOIR NATIONAL DE PARIS. Tho report of the . Comptoir National d'Escomptc do Paris for 1911 states that, while the year opened under happy auspices. the course of business was abruptly affected in tile second half of the year by political matters, the effects of whic,i were intensified by the insufficiency of the harvests due to the exceptional dryness of the 1911 summer. These unfavourable circumstances not only produced an almost complete stoppage of financial operations during a great part of the year, but it was necessary to avoid with special care any locking up of resources, and to placo certain restrictions on credit abroad. These precautionary measures were carried out with ease, in consequence of tho position in which the treasury of die Oomptoir is constantly maintamea, ana the' period of tension was gone through without difficulty, the clientele of the Comptoir finding all the facilities to which it has been accustomed. Amongst the foreign establishments the agencies at Bombay and in .Australia have produced satisfactory results. Profit and loss account shows a credit balance of £634,a8i!. The dividend is at the same rate os for the previous year, namely. 7 per cent., and absorbs £560,000, and, after making the usual appropriations to the statutory reserves, etc., a balance of £21,118 is carried forward. Tho Comptoir has a paid-up capital of £8,000,0C0, and reserves of £1,441,222. Deposits and current accounts amount to £49,818,346, and, including acceptances, £5,877,614, and other items, the balance-sheet total is £66,471,450. Amongst the principal assets ar.e carh £4,973,988, and bills receivable J£3^,7C4,549.

GISBORNE GAS COUP ANY. The balance-sfcoct of the Gisborne Gas Company, Limited, for the . year entl?d March 31 last shows that with tne amount brought forward the balance for the year amounted to £9208 7s. 9d. The dividend for the year of 3s. per share, equal to jls n2r cent., absorbs £3714, a sum of £2000 has been set apart from dividend etiua.nation purposes, £585 15s. has_bceii credited to depreciation account, £300 for renewal purposes, £208 12s. 9d. to share premium capital account, and £100 for oad dcbU-, leaving £2300 to be carried forward.

N.Z. PAPER MILLS, LTD. The balancc-shcet of the above company for the year ended March 3! last shows that after making provision for ah bad and doubtful debts, and providing depreciation on plant, machinery, and stocks, the balance of proUts for the year amounted to £4892 4s. 6d., to which has to be added £1603 1 Bs. 2d., leaving available £6496 2s Bd.; out of this £1029 9s. 3d. .has been applied in reduction of the fire loss at Woodliaugh Mill, and the dividend at ths rate of 5 per cent, absorbs £4733 jss.» leaving £727 17s. lid. to be ,carried forward. Reinstatement of the miildings and plant destroyed by fire has only just been completed.

TRADE IN ALLEN STREET. Potatoes—The market is considerably easier, the current quotation being &G lo £7 per ton, according to quality. Onions.—The bulk of the onions coining forward are of poor Quality, <uid find poor sale at 7s. to 8s; per cwt.; good sound onions arc realising 10s. to lis. _ Bran.—Heavy shipments arc boing made to Australia, and the market is firm. The current quotation is £6 to £6 ss. per ton. Pollard is in short supply, and is selling at £7 15s. to £8. Rolled oats in 41b. bags are quoted at 9s. per dozen, and oatina at 9s. 6q. Oatmeal is in better demand, find is selling at £14 to £14 10s., according to the brand! Chaff.—Farmers are holding back supplies awaiting developments, and owing to this artificial scarcity the market has advanccd to £5 10s. per ton, sacks in. Straw chaff is selling at £3,. per ton. Cape Barley.—Very little domg at 3s. 9d. to 4s. a bushel. . , , . , Feed barley is m moderate demand at 3s. 6d. a bushel. . Jlaize continues to command mgli rates, and tho current quotation is 6s, 6d. per bushel. . , Kay is in fair demand at £4 10s. to £5 10s. according to Quality. , Hams and bacon are m fair demand. Sid;a 9Jd. per lb:, rolls iCid., hams 9sd. Eggs.—Fresh eggs are selling at 2s. 2d. per dozen, and preserved ot Is. «j. Butter, in bulk, in Mib. boxes, is quoted at. Hid. per lb. , Cheese has good inquiry: best factory nwdium is quoted at 7d„ loaf at 7jd. Vegetables.—The bulk of the vegetables coming oil the market are selling at low prices just now, the exception using French bcons, which arc realising extreme rates. , , . Fruit.—Two Island steamers are due this week with oranges and bananas. Lemons are in short supply, and are realising high prices. Supplies are expected by the Sydney boat, which should hove tne effect, of easing the market. A good demand exists for choice dsssert pcaxs, whilst apples arc a trifle easier. Customs duties collected at tho port ot Wellington yesterday amounted to £3143 os. 6d. CANTERBURY CHAIN MARKETS. ■ (By Telegraph—Press Association.! Glirlsichurch, May 21. Wheat is still very quiet, and practically no business is passing. The same may bo said ivith respect to oats, and offerings have fallen off. Oats in particular are bein" firmly held, and prices remain ste.'ulv. The demnnd is good, especially for oat.s. ChafT retains its late value ot £3. which is the highest price quoted at eountiy stations. The potato market has eased coneidOMibly, and offerings havo increased since digging beenme more general. Tho highest price now being paid is £4 10s. at coimtrv stations, but some buyers are not prepared to do business even at this figure. Other lines of grains and produce showno changes. FROZEN MEAT. Christcliurch, May 21. Tho British and New Zealand Meat Company has received the following London cablegramMutton—Canterbury, 4d. io 4i ( l • "Xorth Island, 31(1. to 3jrt. Lamb— Oanterbui'V, 6d. to 6Ki.; North Island, SJd. to Od. Beef—Hinds, 4 3-Bd.; fores, 3 3-Sd. WHEAT AND FLOUR, By Telegraph—Press Association—Copyright London, May 20. The wheat and flour Afloat for the United Kingdom totals 3,920,000 quarters; for the Continent, 3,415,000 quarters; Atlantic shipments, 276,000; Pacific shipments, 15,000. The total shipments lo Europe during the week amounted to 1.085.000 quarters, ineluding 392,000 from the Argcntia;. 100.000 Russian. 45.W0 I>annb!<ir>, U3.M9 from laoUl. and £2,009 from Australasia

WHEAT. By Telegraph—Press Association—Copyright. (Hoc. May 21, 9 p.m.) London, May St. A cf'ffc'o of Australian wheat has been Bold Ot 395. 2d. per quarter. SILVER. London, May 2D. Bai 1 silver is quoted at 261 d. per ounce standard.