COMMERCIAL ITEMS.

Dominion, Volume 5, Issue 1450, 27 May 1912, Page 8

COMMERCIAL ITEMS.

INVESTMENT SHAKES. Sales of investment shares recorded on Saturday were Manning and Co., at £4 2s. '6d., and W.F.C.A. (£1 paid) at 295. The buying and selling quotations were as under:— Buyers. Sellers. £ s. d. £ s. d Well. Trust and Loan 7 12 9 — Christchurch Gas 8 17 6 — Well. Gas (£10) 18 5 0 - Heat Export' (£5) — 6 5 0 Meat Export (525. 6d.}... — 3 0 0 Union Steam 2 8 6 2 10 6 Well, Woollen (ordinary) — 3 10 0 Well. Woollen (preference) — 2 18 6 Kauri Timber (335.) — 1 17 9 Leyland-O'Brien — 18 6 N.Z. Poivell Wood — 13 0 Tarings mutu Totara — 2 10 0 Golden Bav Cement — 14 0 N.Z. Con. Dental 10 6 — Sharland's ordinary — 13 3 Well. Opera, House — 4 17 6 INTERNATIONAL MERCANTILE MARINE. Of late some attention has been given to the securities of the International Mercantile Marine Company, partly owing to the revival in shipping securities generally and partly in anticipation of the publication next month of a report for 1911 which will show a great improvement on th 3 previous year's results. This company is, of course, the well-known Morgnji combine, and oinis, besides concerns in America, the American, the Red Star, the White Star, the Dominion, and the Atlantic Transport lines;, together with a controlling interest in the Lcyland aud National Lines. The combine has about 130 vessels, with an aggregate cross tonnage of a little over one million, and until the acquisition last year of the Union-Castle by the Royal Mail it was the biggest shipping company in the world. The issued capital is about £10,000,000 of common aud about £10,350,000 of preferred stock, t.he authorised total being £24,000,000. which has never received a dividend. There an 3 aho £3,678.6?0 5 per cent, first mortgage sinking bonds and £10,548,800 4i per cent, mortgage bonds. The British properties acouired were largely paid for by the issue of some of those securities, but it was generally licld that the preferred and common represented water, and for year? after the combination was effected, in 1902, there was little or no market, in them. The highest price of the common in 1911, according to the Liverpool list, was 6, and the lowest 4 5-6, but this year it has been dealt in in London at about 7; while the preferred, which at the best wa>s 23 3-8 nnd at the lowest 15 last year, has recently been over 26. and is row 'quoted 25. The basis for the belief that business has been very much better of late is that the shipping iiiclustrv as a whole has improved greatly, whilst.freight rat?? for cargoes from the United States to European ports are substantially higher. As an example, a year ago grain from America, to Liverpool was o.uoted ljd. per bushel nnd provisions 15s. per ton; while current quotations are 4d. and 17s. 6d. respectively. A more trustworthy guide perhaps is the freight, rate from Savannah (o Liverpool or Manchester for cotton, which a year ago was 305.. (according to net register of the vessel) and quite recently was 475. 6d.. whilst lately it has been over 50s. Roughly, it may he said that freight rates are from 25 to 50 per cent, higher now than they were a year ago. and this .advance must of course bo of iniTucui-f 1 im-port-anee lo such a concern the International Mercantile Marine. Whether it spells dividends, however, is less certain, WORKMEN'S COMPENSATION. Figures relating to workmen's compensation insurance since tlw passing of the Act in 1906 were given by the chairman of the Employers' Liability Assurance Corporation at the annual meeting of the company held recently. The overage cost of c.a,325 ari-ing out of tho Act In which Beruiajiettt dlsablstnoit .tools slate jyhs £stt.

in 1907, £104 125. in 1908, £112 in 1909, £123 Hi. in 1910. and £142 16s. in 1911. The average cost of cases involving temporary total disablement had also risen nrogrojsivcly during the same pcrod from £2 18s. in 1907 to .£5 6=. in 1911, while t li.'j number of claims occurring ill respect ot cacli £100,CCO paid in wages bad risen in like manner [rum 34.9 ill 1907 to 50.5 in 1911. A variety of causes was suggested to account for this tendency of claims to increase both in number and in cost, and among these til? better understanding as to tiie advantages of the Act on the part, of (lie workmen is probably the most important. CUSTOMS. Customs revenue collected at tho port of Wellington on Saturday amounted to £1005 10s. 2d., the total for the week beinsr £11,<152 7s. 4d. The return for each of tiie past eight weeks, compared with the figures for the corresponding periods of last year, show as under:— 1912. 1911. •April 6 18.597 23.145 April 13 10,972 10.8S0 April 20 22.803 16.745 April 27 12.150 12 111 May 4 , 16,093 19,765 May 11 10.339 8.187 May 18 18,293 14.9 M May 25 11,452 15,012 £120,704 £120,709 The beer duty collected during the cost week amounted to .£270 lis. So., as compared with £195 13s, for the corresponding week of last year. GItAIN AND riiOBUCE. fl3x Tclezraoh.—l'res* Association.) Oamaru, May 26. Not much business was done in the locnl wheat market last week, but it is not likely that the quietness will last long. There has been a weakening of about a penny a bushel during the week. At the beginning of the week 3s. 9Jd. to 3s. lCd. was given net at country stations for Velvet, and from 3s. 9<l. to 3s. 9jd. for Ited wheat and mixed lines, but sinci then a fall of a penny has taken place. The ofl'erings of oats are small. There is an impression amongst growers that prices are more likely to rise than fall, and this is accountable for the small offerings. For A-grade Gartons the ruling prices has been 2s. 2J<i. net, whilo for Dgrads the price is 2s. to 2s. lid. net. The potato market is cniiet, and prices have falten 10s. a ton during the week. The prices paid during the week have been £4 155., £4 12s. 6d„ and £4 10s. net oil trucks. FROZEN MEAT. The New Zealand Loan and Mercantilo Agency Company, Ltd.. have received the following cablegram -from their London house, under date May 24:— Frozen Meat—Owing to strike, the business, is disorganised, and we cannot cjuote. HIGH COMMISSIONER'S MARKET' REPORT. The Department of Agriculture, Commerce. and Tourists has received the following cablegram from the lligli Commissioner for Xew Zealand, dated London. May 24. 1912. (Note: Quotations, unless I otherwise spccifi?d, are average market prices on spot.):— General.—The market is -paralysed on account of the strike of transport workers. Trices ore rising for anything available. Ships cannot discharge. Quotations are nominal. Mutton.—Canterbury 4id. jwr ib„ North Island 4jd. per lb. Lamb—Canterbury 7d. per lb., other than Canterbury 61d. per lb. Beef—New Zealand fores 4d., hinds 43d. per lb. Butter.—Now Zealand choicest, 115s. per cwt. Cheese—The■ average price for the week for finest. Now Zealand, per cwt.., is: White, 735. 6d.; coloured, 745. 6d. Hemp.—Xo change in prices, namely:— Spot: New Zealand, good fair grade, per ton, £21 15k, ; fair grade, £20 10?.; fair, current Manila, £22. Forward shipment: New Zealand, good fair grade, £21 10s.; fair grade, £20 10s.; fair current Manila, £22 10s. LONDON MARKETS. By Telegraph—Press Association—Copyright. (Rec. May 26, 5.5 p.m.) London, May 25. Copra.—The market is irregular; South Sea, in bags, is quoted at £25 2s. fid. per ton. Cotton—May and June shipment, 6.2 id. per lb. Jute.—The now crop for August shipment is ouoted at £21 per ton. Ifemp.—May-July shipment, £22 ss. per ton. Itubber.—Fine hard Para rubber Is quoted at 45. 7Jd. per lb. Cement, ss. 7d. to ss. 4d. CHEESE YERY FIRM. (Rec. May 26, 5.5 p.m.! London, May 25. The market for cheese is very firm, and the few New Zealand lots available are ouoted at 755. to 765. per cwt. METALS AND METAL GOODS. (Rec. May 26. 5!5 p.m.) London, May 25. Silver—Bar silver ie Quoted at 28Jd. per ounce standard. Tin plates are quoted at 14s. 9d. and 15s. 9d. for the> respective makes. Fencing wire, £8 7s. 6d. per ton. Iron bars, £7 7s. 6d. per ton. Angle steel, £6 12s. 6d. per ton. Wire-netting, 525. 6d., less 21 per cent, to 5 per cent, otf .list.