COMMERCIAL ITEMS.

Dominion, Volume 5, Issue 1495, 18 July 1912, Page 8

COMMERCIAL ITEMS.

TIII3 SIIAItKMAKKET. Tfere. wns 110 meeting or (.he Stock KxclimißO .ve-tcMby, civin s to it being Arl;or Day. UNIFORM FOOD KTAXDAItriS. Dr. A.-liiiurlon Thomson. who hn? hem <:ouimi?.nonc<l liy tno vtirioiis Sinter to inquire into the onciiMo-i 0 f uniform st.ninarfls fir. food and driij-?. and wlm r«i-cnt-loiej»i*a?n. fox tof tpftciil uurro»s of fc* ouitag evidence Ir«m Pr, IV. Eatuia? Eiaith,

president of the Central Board of Ilcnltli. in view .of the latter'.: pending departure l'cr Europe and America on protracted leave. J)r. {Smith placed before the? commission •much interesting data, cm/bodying views of the Adelaide Central Board of Health in regard to food and drugs. lie said the question of alcoholic liquors was important. He particularly had in mind the necessity for having all liquor which was imported in bulk, bottled in bond, and labelled accordingly. This has been oiu» of the greatest, difficulties in South Australia, for *20 years. Dr. Smith said it would be well to take evidence in some detriil on the practice of sulphuring dried fruit. Fruitgrowers have trained the public to like fruit of certain colour, and that means the use of sulphur. The whole process ivt at- present done by rule of thumb, and in some cases a good deal of sulphur remains in the fruit. Experiments show that the amount of sulphur can bo regulated, and Jieed be small. Quite recently lie had heard that' the Americans \ver» able to keep the colour in their dried fruit's without the use of sulphur. An entirely new pro: ess is used, in which salt is employed. Ifc would also like to refer 13 the question of the quantity of salt to be allowed in wine. Some vineyards at certain times produced grapes with a large amount of salt in the juice. Evidence should be taken on that matter, also on the subject of ice.

MARINE AND OTHER LOSSES. British marine underwriters have lost over five million sterling during the first half of this year, and it is the worA experience that the market has had for many 3*ears. The fire insurance companies can point to somewhat similar experiences in respect to conflagration*. It ie difficult to account for this, and no definite cause can be assigned. The "Economist" of June 1, in referring to the heavy marine losses, eays:—ln dealing with the insurance reoord for this year one is naturally tempted to dwell on the big wrecks, but it must be said that apart from the large claims underwriters have had an unusually large number of serious minor losses*. For some reasons claims iu the last few months have been very numerous, both in marine and non-marine insurance, and claim settlers and average adjusters say that they have never before kqown so busy a- time. In part, no doubt, this fact is due to the labour unrest- and the disorganisation of industry caused by remit strikes, A big system of railways or of docks cannot suddenly be held up and brought to a standstill without suffering serious consequential damage, quite apart from the immediate loss of profits, lloutj.ne is broken, the efficiency 6f labour is impaired, and it becomes more difficult for the managers to exercise • proper supervision over all the branches of their business. Hence pilferage claims have recently been very numerous, and policies which had "gone clean" for years have suddenly become unprofitable. For underwriters this dribble* of petty claims is most unsatisfactory, inasmuch a s > the litt.'e losses eat. up premiums and hinder them from making good ibe money dropped on big vcv.*ls like the Titanic, the Oceana, the Delhi, and the Koombana. In a word the insurance market has lately had an unprofitable time but in the Ion?? run the Ios?-m, promptlv and readily as they are being ir&t, will prove an excellent advertisement for London insurers. There is r>o hitch in the working of the market; claims have been paid, and are heiue paid, without the slightest difficulty, and there ie a general feeling of confidence in the future.

SUEZ CANAL COMPANY

At the annual meeting of the Suez Canal Company, held in Paris on Jims 3. the annual, report showed that the year's operations had been brilliantly successful. The total receipts were £5,521,529, being an increase of £173,360. as compared with the previous year. After appropriating £111,533 to the statutorv re&srve, and £120.000 to the extraordinary reserve and distributing to shareholders £5.483.019, there remains £13,i83't0 be carried forward. The number of vessels that passed through the nan-al in 1911 wan <959, representing a net tonn.i.ge of 10,324,794, an increase of 436 versoh. with a tonnage of 1.742,896, Brilliant as were the results of 1911, thov havo been more than maintained ,in -the opening months of the present year.

IXSUEIXG THE "JJrPERATOR." The wreck of the Titanic has been the cause of the special measures taken by tho directors of the Hamburg-America Shipping Company toi provide attenuate protection:in the matter of insurance for their new leviathan liner, the' Imperator. thj largest vessel now afloat, which was recently launched. The extra precautions extend to tho lives and effects of passengers, as well as to the hull and machinery of the vessel. The additional cost to the coTnpany on account of tho special insurances effected has been very considerable, but it wa<; regarded as absolutely nceea-e-ary in view of the disaster t.o the, Titanic, and thorc is little doubt., that a sfrnilar policy wilt be pursued in future by all the leading ship-owning companies whoso fleets traverse tho North Atlantic and other routes. Under this now order of things underwriters are being offered an increased amount of this class of business, on terms which, as compared with those heretofore obtainable, art; accepted as attractive. If to this be added the fact that especial care is being exercised by navigators to prevent their vessels approaching even distantly, the ice floes which periodically move .down from the north, it will be rccognised that the assertion tha,t'ultimately the recent catastrophe would prove to be not altogether unproductive of benefit to insurance under, writers is showing sieim of early fulfilment. This is already appreciated in expert circles where insurance business on the leading liners on the -improved terms now offering is being taken with as much eagerness a 6 was formerly customary. Doubtless it will he some time, before underwriters will have completely recovered from their recent reverses, but present indications appear to be' all in favour of the attainment, of that end in a. shorter time than a little .while aj;o iscemcd possible.

Custom's duties collected at the port of Wellington yesterday amounted to £1195 4s. WELLINGTON JIEA.T EXPORT CO. An extraordinary general meeting of shareholders of the Wellington Meat, Export Company, Ltd., wa.s held at the Chamber of Commerce yesterday, Mr. W. G. Foster (chairman of directors.! presiding. There were about twenty shareholders- present. The object of the meeting was to provide new machinery for tho election of auditors. It. was decided that in future there should be three auditors, and that one auditor should retire every year, and be ineligible for re-election for one year; and also that votinu in the election of auditors by a poll and with t.he use of proxies be abolished—special voting-papers, to be issued before the arlnual meeting, to be substituted. The opportunity was taken to make various other alterations in the articles of association, but none of the alterations madu were of material importance. There will be another meeting, prior to the annual meeting, to confirm the resolutions passed yesterday. GRAIN MARKET. (By Telegraph.—Press Association.) ' Duncdin, Julv 17. The volume of business passing in oats is not preat. Most of the oats coming forward show evidence of very bad weather. and as there is risk attached to tho handling. of the6e they are saleable only

at reducea raU*. A Oartons, 2s. Id.; B fiaxtons. 2>. to l>. OJd.t medium and inferior, Is. BJd. to Is. 10} d., ex trucks, Dunedin. Wheat.—Milierft are not opcratiug at prepent and quotations are nominal. Fair quality of fowl wheat has been offering, and prices have eased so.mewhat. Prime mailing, 9d. to 3s. 10d.; medium milling, 3s. 6d. to os. 6d.; best whole fowl wheat, 3s. 4d. to 3s. sd, LONDON MAIiKETS, Messrs. Dalgety and Company, Ltd., have received the following cablegram from thoir London office, dated Julv 15:-Tallow -The market is very ouiet. There wilt be no public sales this week. LONDON WOOL SALES. By Telegraph—Press Association-Copyright London, Only 16. Ridding was spirited in all sections at the wool sales. The market- is very firm. (Itoc. July 18, 0.15 a.m.) London, .July 17. At the wool sales the following- "prices were realised for the fioeee portions of the olips named:—Huia. top price, 9d,; average, 5.U1.; Wantwood, lljd. and 92d.; Benledi. 12Jd. and 12,', d, LONDON QUOTATIONS,' London, July 16. Dalgety'e debentures are quoted at £98 15s. METALS. (Sec. July 18, 0.15 a.m.) London, July 17. Copper.—On spot, £75 85 9d.: three months, £75 16s. 3d.; olecttolytic, £79 ss. Tin.—On spot, £200 155.: three months, £196 15s. SILVER. , London, July 16. Bar silver is quoted at 27Zd. per ounce standard. MINING NEWS. STOCK EXCHANGE. * . . 'By Telegraph.—Press Association'.! ' Auckland, July 17. Business done:— May Queen, Is. 2d. Waitangi, 7d. • . Waihi-Paeroa, £1 17s. . llikurangi Coal, 19s. The following business was done at the 3.15 p.m. call:— . Moanataiari, l£d. Waiotahi, 2s. sd. Talisman Consolidated, £1 195., £1 19s: Waihi Grand Junction. £1 2s. Christchurch, July 17, ' Sales reported :— New Zealand Farmers'; £2 10s.. Talisman, £1 18s. Waihi, £1 15s. 6d.