COMMERCIAL ITEMS.

Dominion, Volume 5, Issue 1494, 17 July 1912, Page 10

COMMERCIAL ITEMS.

INVESTMENT SHARES. | ' A sale of Christchurch Meat shares at £15 7s. 6d. was the only transaction recorded yesterday. The buying and selling ' quotations were as under:— Buyers. fSeliers. £ s. d. £ s. d. National Bank — 6 3 0 N.Z. and -River Plate ...... 1 19 6 2 0 0 -Well. Investment 0 11 6 - Well. Trust and Loan ... 7 8 6 — Christchurch Gas 8 .15 0 9 0 0 Tfokttika Ga<? — 515 0 Well. Gas (prof.) 10 0 10 6 National Insurance 1 18 9 I^3 Meat Export (£5) 6 5 0 ' - Mosgicl Woollen — 3 7 6 Well. Woollen (ord.) 3 9 0 • '— Well. Woollen (prcf.) 2 17 0 3 0 0 Hikurangi Coal 0 19 0 _ Taupiri Coal 12 3 - Wostport Coal 17 9 13 3 Taringamutu Totnra - ■ 2 8 3 Golden Bay Cement — 12 0 Mauricevillo Lime- :... — 012 6 Sharland's ordinary . — 13 0 W.F.C.A - '776 BIDDING AT WOOL SALES. In the produce circular of the Bank of 'New Zealand, dated London. June 5. there appear the following resolutions which wero passed by a meeting of the Associated Selling Wool Brokers, and transmitted to the Colonial Wool Buyers' Association, London :— 1. That this association having now had an opportunity of considering the representation made to them by the committee of the-Wool Buyers' Association on April 24; and having in view the length of the catalogues at certain periods of the year owing to the increasing number of small lots, have decided that in future the sales of lots of one to three bales shall be held in a room at the Auction Mart, Tokenhouse Yard, concurrently with the tale of the regular, lots at. the Wool Exchange which shall include all lots of four bales' and oyer, whether sonnd or damaged; this system to be'continued as long as arrangements can be.made with the Auction Mart Company for the, holding of the same, and only so long as in the opinion of this association it may he considered desirable. The sale of these lots will commence one half hour after the time fixed for. the commencement of the regular sale. 2. That this association, while favouring the extension of faHhinir'bids from 8d to Is. per lb., are willing to meet the wishes of buyers' as expressed in a icsolnt-'on na,=scd by them at a meeting of the Wool Buyers' A,-\-ii-.iation on May 2. 1912, mid tt accept biddings by farthings un to 10d this? alteration to t.ahc effect at. the November series as being nnnroximatelv tho commencement of the 1912-13 wool selling season in London.

CO-OPEBATIVE DISTRIBUTION. Co-operative methods of distribution arc flndinu .increased favour in Hc-Iklhhi, a VI the oririniisatlon-s working on the system are-stated to be very active in their efforts to extend the principle. It is stated 1 that a large pre portion of the societies at present, in existence a'i trading concenn sell at prices lower than those current in the regular markets. They allow only members to' purchase, and have minimum prolits to distribute. Many *ociet:r,> cpar:nil-:> six P"r cent, dividends en all pu--chases, and allocs; nil remaining mods* n-'nons various funds for- insuranc?. ren*ir>n-, strike relief, indemnity for lnlnr<e'. niM rth*r I'inv.br pijrp'-ic*. Co-op*rat|v* u tlie etoicrlajids deal witi.

domestic an<l ,'i.xriciillurii.l sutl'l'lies. inctuiiinjr, ot coin-he, crpuinerle?, t'-ii-mer.s' loan banks and' savinus hanks, 'l'hey are maintained strictly .an a ca.-li busis. and i-etnni to pin-L-lia-ers dividend,., averaKini? between cifjht and ten ner cent, per anniim. They arranee with doctors and denand with meri-haiits who sell [roods which the societies do not-handle, and so obtain commission on business done with their member.-. Sale:- by co-operative swielic- in Denmark arc cjnfiiud to memtier, unlcv; t-lic organisations elect to be subject to taxation. Numerous factories and workshops arc operated by a .ioint association ot Danish co-operative societies, and prices appear to be kept down throuali the activity of the association, whose average dividend;; range from 5 to 12 per cent, per annum.

STAISIMTT OF LLOYD'S. Aecordins \i the "Etononii.-t," n loss like ths 'titanic was ivsnscially well-suited to test the stability o[ Lloyd's. It alfected underwriter* at every point; it came on the top of two bit; losses of liners-the Delhi anil the Oceana—and within a month of payiujc for the specie sunk with.' the Oceana, Lloyd's and the marine companies were called on to pay all the heavy claims incidental to the foundering of tho Titanic. If, then, the credit of Lloyd's had been doubtful, if the underwriters had endangered their position by wild insurances on risks that they did not understand, atid plunged for premiums that they could not really earn, the Titanic loss would have found the weak spot, and caused great and general inconvenience. That there was a miscalculation in connection with the White Star liners everyone admits. They were not the good risk that the market ha,d supposed, and the market has to pav for the risk. But a group of men who had been trading for vears on business lines would have been almost wiped out of existence by an error of this kind. It is only the strong man win can afford mistakes on n big scale, and onlv the strong man recover from them wh:n the results come home to roost, tf the credit of- Lloyd'.i had been undermined by general reckless underwriting, the members of the "Room" who had been nt fault would have collated under the strain of their losses, and b?cn placed in a position of grave difficulty.

TRADE IX ALLEN STHEET. Butter.—There is goad inoniry for prime quality in bulk at- lid. to lljd., with second grade at 9d. to lOd Margarine, in 231b. tins. Scottish manufacture; is selling at Bd.to 85d. Lard—Factory-made has good inquiry at M. '-~••« Cheese—Best factory, medium sue, 7d. to 7jd.; loaf. 7i!d. to Bd. Eggs.-Frcsh eggs have advanced, and are nw ouotod at Is. lOd. per dozen, with preserved at Is.. 4d. to Is. sd. . 'Hay is in good demand at £S to £5 10s. for prime rye a.nd clover.. Chaff.—The market continues to be glutted. Prime, oaten sheaf chaff. £5 to £5 10s. per ton; medium auality, JM to £5, tacks in. , >'crd barley is slow of sale at 3s. 6d. per Bushel. , . Cap-s barlev has very little business at Js. 9d. a bushel. Oats.—Seed Algerian. 3s. Id. to 3s. 6d. a husbel; short feed, 2s. 9d. to 35.; dun oats, 2s. lOd. to 3s. Oatmeal.—Valuw have declined, the current Quotation being £13 10s. to £14 per ton. Rolled oats, in 41b. bass, aro selling.at 9s. per dozen, and oatina. at h. M. }If.ir,3 has very little inquiry ot bs. 6(1. per bushel. OnbiiH.-Prime quality is selling at 10s. to 10s. Cd. per cwt., with inferior at 4s. to Pollard.—Supplies are now. more plentiful, and prices range from £7 10s. to £7 15s. per ton. Barley meal is in fair demand at £7 ss. per ton. Pea meal meet* with moderate inquiry at £7 10». per ton. like Mc-il.—A fair business doln'! at £6 !C"v per tin. with rta (lour at £6 ss. : Bran.—The inland is good, and the prirr,s are £5 ifs. to £6 per ton. Potatoes.- Owing to experts, the market ha-s advanced 20s. per ton. and the qu-ota-tinn* are now £6 to £7 for prime quality. Split pjas meet with moderate business at 17s. tier ewt. , Pfui-tiail blue peas are, selling at 6s. 9d. to 7s. Pc- bushel. .-■.>' Partridge peas ate moving more freely at is.'9d. to 4s. per bushsl. Whole linscjd is quoted .at 17e. 6d. to 18s. per cwt. . , ■ -..-'•'. LirJ-eed nxal rules at 22.3. per cwt. ■ (JrmVied linseed, cake, ,14s. pet. cwt. Linseed nuts. !35..6d. per cwt: . Vegetables-Cauliflowers ard. calery aro in excellent demand, and parsnips and pumpkins arc in fair reuuest. Cabbages Mi-iw a slight improvement. Fruit.—The steamer fvom Fiji is due on Friday with tlw usual fonthly supplies of bananas- and orangos. The Sydney steamer due tx:iy is brinzitu consignments of nvuldariiij. lemons, pas-ion fruit, and pineapp-'.c-i. Dcstort apnlc-5 ore sli'thtly ead"", but cooking appbs arc in good demand.

WELLINGTON MARKETS. Jleijrs. Lacry and Co., Ltd., wholesale' produce merchants, Allen , Street,' report prices ruling on'the Wellington market;Fowls' wheat, best, 4s. 2d. to 4s. 4d. per bushel: fowls' barley, best 3s. 6d. to 3s. 9d. per bushel; Cape barley seed. 3s. IA. per bushel; oats, short feed 2;. 9d. to 3s. per bushel; oats, seed Algerians 3s. 4d. to Is. 7d. per bushel;- oats. Duns, 2s. lid. to 3s. Id. per bushel; maize, ss. 6d. per bushel; Prussian blue peas, '6s. 9d. to 7s. per bu«het; partridze peas,-3s. 9d. to 4s. per bushel; horse beans. 4s. £d. to 4s. 4d. per bushel; sitcrosenc. ■£7 10s. per ton; flour, Atlas brand. £9 lie. 6d. ner ton; oatmeal, £13 10s. per ton; pollard, £7 ss. to £7 10s. per ton- barlev meal. £7 ss. per ton; pea meal, £7 10s. per ton; bran. £5 15s. to £6 per ton; chaff, prime oateiisheaf. £5 15s. per ton: chaff, medium quality oatenshoaf. £4 ss. to £4 15s. per ton; chaff,-straw. £i 10s. per ton: straw, baled. £3 to £3 Us. per ton; factory bacon, shoulders. Bd. per lb.; siden, 91d. ner lb.; hams. 9id. per lh.; roll-;,.101d. per lb.; factory chesse, medium sized, ,7d. per lb.; factory cheese, loaf sized, 7Sd. per lb.; honey, bulk, in 561b. tins, 4Jd. per lb.; margarine, in 281b. tins. Bid. per lb.; whole linseed, 18s. per cwt.; linseed, ground, 225. per cwt.; linseed, cake. 14s. per cwt.; linrsced. nuts, 13s. 6d. per cwt.; basic slag, £4 ss. per ton; superphosphates, £4 15s. psr ton; rolled oats, 9s. 6d. per dozen; rolled oats, bulk, 16s. per 100; potatoes, prims table, £6 10s. per ton; seed potatoes, Up-lo-Datos £6, Beauty of Hebron £9 10s., Early Rose £9'105., Gamekeepero £8, Rubicund £6 per ton; onions, prime, £10 to £10 10s. per ton.

Customs duties collected at the port of Wol'ington ' yesterday amounted to £2176 ss. 6d.

GRAIN AND PRODUCE. (By Telegraph—Press Associations Chrlstchurch, July 16. The wet weather that has again set in has put a complete check upon business 'n the grain and produce markets. Ths only move that can be noted is in potatoes, which have advanced in price. Owing to the water-logged condition of the paddocks, deliveries from the. pit will be a difficult matter, and will prevent supplies from coming forward. For ..ordinary samples, the price is now £4 55.-per ton, and, in cat-ss where the necessaTy certificate of freedom from blight can be given to enable shipment to be made to Australia, un to £4 15s. at country stations has been paid. LONDON WOOL SALES. By Tclcßraph-rPress Association—Copyrient London, July 15. A good selection of greasy merinos • was .offered at the wool sales. . Prices were firm. For crossbreds there was keen competition, but no change in prices. (lice. July 16, 10.55 p.m.) London, July, 16. The following are the prices realised- 'at. the wool sales for the fleece portions-of the clips named:-Mount Linton, top price, 12d.; average, 10Jd.; Ruanui. 13d. and Hid.; Ngnkonui. 12Jd. and 11 3-Bd.: Te Kon. 12) d. and ll»d.; Haka-terama, 12) d. and UJd. Messrs. Abraham and Williams, Ltd/., have received the following cablegram from London, under date July 15, regarding the. progress of the current sales:— In comparison with closing rates of last series values now stand as follow:—Fine crossbred, 74 per cont. up. market very firm; medium crossbred and merinos, 5 per cent, up, market steady; coarse crossbred, 25 por cont. up, market, firm; superior parools of medium and coarse- crossbred, 10 por cent, up, market very firm.

FURTHER FALL IN ' CONSOLS, (ltec. July 16,- 10.55 p.m.) London, July 16. Consols are quoted at £75, a fall of 7s, 6d. since last quotation.