COMMERCIAL ITEMS.

Dominion, Volume 5, Issue 1500, 24 July 1912, Page 8

COMMERCIAL ITEMS.

INVESTMENT SHARES. The sales of investment shares recorded yosterday were:—Meat Export, 52c. 6d. paid,, at £3 2s. 6d.; and Taivpiri Coal, at 225. 6d. The buying nnd selling quotations weriS as under:— Buyers. Sellers. £ s. d. £ s. d. National Bank 5 19 0 6 0 0 X.Z. and Diver Plate — Well. Investment. 011 9 Well. Trust and Loan 7 12 6 — Christchuroh Gas 812 6 — I-'oiidiiig (.las 1 G & ~ Well. Gas (pref.) 10 0 Meat- Export- (525. 6d.). ... — 3 3 0 Woollen 3 6 6 3 8 0 Well. Woollen (ord.) 3 9 0 — Taupiri Coal 12 6 } ' ? ?. Le.vland-O'llrien — lit Taring.imutu Total's , ~ „ " i 6 Donaghy itope and Twine 14 9 T . Gulden Bay Cement • — 1 1 " Ward and Co 5 2 0 INDIA AND GOLD. In referring to the capacity of India to alworb gold. Messrs. Samuel ilonta-;a and Co. point out that Importation's i-iuo that eountrv of specie and bullion Id date are over 40 per cent, more than those for the corresponding period of 1911. Now that so great a change is taking place m the currency customs of India as rcjards £ ol J; it is probable, state 3les;rs. Jlor.-tagu, that the movements of silver rupees, both m and out of the Treasury, may be lets accentuated year by year. J>ot only vi" l the tack flow be proportionately less, but the outflow, when harvests have to be financed, will not be so pronounced, may be assumed therefore that the more gold .enters into daily use, the more freely will it move in and out of the reserve aftinst notes, thus diminishing the drain on" the central Treasury for silver rupees. They add that the monsoon lias broken at Colombo at the normal period and m normal conditions. It will lie due in Bengn/ about a fortnight later. There is nothing at present to suggest other than its taking a favourable course, always provided no excessive wind disturbance occurs to dissipate its genia-l force. It has 'been a- record year for an Indian demand for Manchester cotton goods, and merchants in that citv will have good cause to congratulate themselves if all -goes well, not less than the inhabitants of our great depend-enc-v, which is affected directly by the rains. Tho news that, certain safeguards demtmded as to the disposal o£ the proposed China loan money have been declined, and that any fresh negotiations will have to be "els novo."' has not hud any appurcut- effect upon silver, except, perhaps, to check any tendency for this metal to rise jiut now.

JAPAN EICE. There promises to be a good rice crop in Japan t-nis year, and prices are falling. Tiie crop of last year was extremely small, and as rice is the staple food of the Japanese, the short-age caused a great deal of sulfcring. Prices advanced naturally, and record prices were registered on the fokio Exchange about the uiddle of .May. H had been expected that t)iie action of the Government in arresting 37 dealers for gambling would have had tho effect cf Lowering values, but, as a. matter of fact, it had tho opposite result, as it had prevented the stocks going on to the market, and this shortened what was already a very limited snpply. When tho record figures were registered, the directors of the Exchange ordered the closure of all transaction's, as it -was obvious that something would-have to he done to readjust prices. On reopening values went still higher, and it was clear that tho whole of the visible supply had been cornered. The "Financier" states that it i 3 reported that the Government intend lowering tho import duty on foreign rice, so as to bring in supplies to equalise matters. On the other hand-, it was stated that they would do nothing, for fear of causing further mischief. Many attempts have been made to corner the rice supplies, but probably none have been so successful a-s the present. Last year Mr. Gato. made a good attempt, but prices broke on the intervention of tile Government, the chief bull flying to Formosa.

AUSTRALASIAN GOLD OUTPUT. The production of gold in Australia and Now Zealand for the first half of the year ■amoijiits approximately to 1,308,521 fine ounces, against 1,427,276 fine ounces for the first half of 1911, or a.decrease of 118.7550z., of which Western Australia accounts for 44,5120z., "V ictoria ' for 22,9600z., and New Zealand for 23,0220z. A comparison of the figures for the half-year is as follows:— 1510. 1911.- . 1912. Fine oz. Fine oz. Fine oz. Victoria 295,540 251,945 228,985 New South Wales, 84,841 .08,582 78,303 Queensland 218,439 184,611 170.354 Western Australia 729,117 . 672,359 627,847 South Australia* ' 4,500 6,200 4,500 Tasmania* 22,500 16,000 14.CC0 Commonwealth 1,354.937 1,219,727 1,123,994 New Zealand. ... 209,101 , 207,549 184,527 Total :i,554.038 1,427,276 1,308,521 ♦Approximate.

INDIAN SILVER CORNER. 1 Tho native merchants in Bombay who made a corner in salver, their operations extending over 18 months, boast that their profits amounted to £166,666, exclusive of interest. Tlrey never held more than 25,000 bars, which, though unwieldy .in general circumstances, was not likely to cause emThere wore rumours in January of a rise. Indian coinage prospects al" -1 ; did not make for a rise. The specula' ; had another string to their bow, viz., tho issue sooner or later of large loans to China. There wore rumours in January of a bank smash more extensive than that of the Bank of Burma-, yet the speculators held on. At t-lie beginning of April there ■was a turn for the better, and the improvement continued steadily. Week after week a decrease was reported in the total of silver rupees in the Indian currency reserve. Towards the cioso of tho month the combine replenished its stock, replacing not only silver let out to cornorcd dealers, but also that previously sold to China. The price went to 28 3-16 d. on April 30, when speculation ran riot. • According to Messrs. Samuel, Montagu, and Co., tho price of silver in Bombay for shipment from London rose above that for near delivery for the first time for nearly six weeks, and as a consequence purchases in London for Bombay were on quite a heavy scale. Then came the reaction,' in'fluenced, "Capital" believes, by the report that t-ho decrease in the Indian currencv reserves was only 23 lakhs. The combine at once unloaded on a falling market.

IMMIGRATION RETURNS. Official returns in immigration into the United States during the calendar year 1911 exhibited a marked decline on the flgurea for 1910 and 1909. l'ho figures, however, show that there is still a marked attractiveness for the overcrowded masses of Europo m tlio Republic, although it is filling up rapidly. Tlio total volume of immigration last, year amounted to 937,514 persons, as against 1,223,606 in 1910, 1,142,013 in 1909, and, 557,585 in 1908, in which year, following on the record of 1,505,468 in 1907, the movement was affected by the .economic disturbances which commenced in October, 1907. Deducting the sum of departures from that of arrivals, tlie remaindor, 353,514, represent!? the net Rain to the country's population from immigration during 1911. The outward movement was set down at 584,000, a considerable number coins to Canada, Immigrant aliens during 1911 numbered 782,545, compared with 1,071.785 of the preceding year. As usual, the heaviest immigration took place an March, April, and May, April providing the record for the year with 98,036. Non-immigrant alien arrivals numbered 154,969, as against 151.823 in the prccedtnc year. The following table should prove of interest, showing, a.s it does, the shipment of tea.from Ceylon to the countries enumerated during the first five months of the present year, as compared with thoso of 1911:1912. 1911. Jan-May JanOfav United Kingdom 47,940,042 47,819,943 Australia 10,621,292 8,421,242 America 8,964,891 6,248, 836 Other countries in Europe 1,117,057 772,079 Russia 1 6,364,120 10,067,873 Africa 1,010,551 858,740 China and Singapore ... 2,386,434 3,145,156 India 983,368 812,944 Total 79,387,755 78,146,813 It will be observed that the exports to Australia are second on, the list, the figmiss indicating a cWnsidorablo increase ever America and Russia

TRADE IN ALLEN STBEET. Fruit—The bananas wliich arrived from Fiji last week met with a good market. Tne W'arrimoo from Sydney last week was very much delayed by bad weather, and a lot of her consignment of fruit was washed overboard, another portion arrived in a sodden and unsatisfactory condition. The fruit that reacliod the market in sound condition sold well. Lemons fetched 7s. 6d. to Bs. 6d.; mandarines, Es. to It's.; pineapples, Bs. 6d. to 10s.; oranges, 6s. 6d. to 7,~. 6d.; passion fruit, ss. to 7s. 6d. per quarter caeo. Doughty apple?, from Auckland are coming in freely, and as supplies arc plentiful prices have declined f.Ho'hMy. Cooking apple; arc worth 4s. 6rt. to ss. 6d„ ami dessert apples 6s. 6d. to 7s. 6d. Vegetables —Celery, parsnips, and pumpkins are in fair demand. Cauliflowers are sligiitly easier, and cabbages are baek to tlio low (inotations of three weeks ago. Eggs.—Fresh cpgs continue at Is. lOd. per dozen, and preserved at Is. 4d. to Is. sd. nutter.—There is good inquiry for prime quality in bulk at lid. to lljd., with second grade at 9d. to 10(h \ Margarine, in 2811). tins, Scottish manufacture. is s<>lliiig at. Bd. to B}d. Lord—Factory-made has good inquiry at Bd. Cheese.-Dest factory, medium size, 7d. to 7\rt.: loaf. 71d. lo ed. Hoy is ill sood demand at. £5 to £5 Ids. for prime rye and clover. Chad'.—The market- continue? to be irluttod. Prime" oaton rdieaf chaff, £5 to £5 ids nor tern.; medium duality, £4 to £S, . eaolii Ink

Feed barley is slow of sale at 3s. 6d. por , bushel. Cape barlov has very little business at 3s. 9d. a bushel. Oats—Seed Algerian, 35. 4d. to 3s. 6d. a bushel; short feed, 2s. 9d. to 35.; Dim oats, 2s. lOd. to 3s. Oatmeal.—Values have declined, the, curvent quotation being £13 10s. to £14 per ton. Rolled oats, in 41b. bags, ore Eelling at 9?. per dozen, and. o.itina at 9s. 6(1. Maize has very little inquiry at ss. 63. per bushel. Onions.—rriroc quality is selling at 10s. to 10s. 6d. per cwt.; with inferior at 4s. to 7s. • Pollard.—Supplies are now more plentiful, and prices range from £7 10s. to £7 15s. per ton. Barley meal is in fair dcniand at £7 ss. per ton. Pea meal meets with moderate inquiry at £7 lCs. Tier ton. Kiec Ileal—A fair business doing at £6 10f. per ton, with rice hour at £6 6s. Bran — The demand is Rood, and the prices are £5 15=. to £6 per ton. Potatoes.—Owing to oxports.-thc market lias advanced 20s. per ton, and the quotations arc now .€6 to £7 for prime Quality. Split peas meet with moderate business a* 17s. per cwt. Prussian blue ucas are selling at 6s. 9d. to 7s. per bushel. Parlrdje peas are moving more freely at. 3s. 9d. to 4s. per bushel. Whole linseed is quoted at 17s. Gd. to 18=. por cwt.. ' l.'ini-ecd meal rules at 225. per cwt. Crushed linseed cake, l a s. per cwt. Linseed nuts, 13s. 6d. per cwt. CUSTOMS REVENUE. Customs duty collected at the port of Wellington yesterday amounted to £1924 4s. Id. ■ CANTERBURY GRAIN MARKET. (By Telezraph.—Proa« Association.) Christchurch, July 23. There is no change to report in tlic state of the local grain market, there being no business doing except in a small hand-to-mouth trade, potatoes have made a further upward move, and arc now quoted at £4 15s. for immediate and £5 for August delivery, at country stations. There is a good demand from the North. Island, and the fact that the shipments made from the South to Sydney are turning out well has firmed the southern market. The continued wet weather is also responsible for the advance that has taken place. LONDON WOOL SALES. By Telegraph—Press Association-Copyright London, July 22. There was a moderate selection of greasy crossbreds at the wool sales. Prices were well maintained. A Email selection of merinos was offered. The market was firm and prices unchanged. (Ecc. July 24, 0.20 a.m.) London, July 23. The following prices wero realised at the wool sales for the fleece portions of the clips mentioned :-Pari, top price 10J4., nverage price 9>.d.; Okiae, lid. and 9id.; Moeraki, 13d. nnd 115 d.; Hauiti,'l4d. and 12id.; Cliff, 15Jd. and 12Jd. Messrs. Levin and Co., Ltd., have received cable advice from their agents in London that the following clips have been sold on their account at the sales now current. The prices named being the average price realised for the fleece wool in each instance:—"DELTA," Marlborough, 10 15-16 d.: R D M K over "MYRTLE." Maeterton. 9>d.: MARAHAU, Wantanui. 91d.; ,T D over "CLUB." Mnstorton, 9Jd.; WEKA, Feilrling. 9 3-Sd.; WAITATAPIA, Bulls, BJd.; SPUR,. Terawhiti, 10 7-16 d.; J M over W If V, Mastcrton, 9 lM6d.j GLENMORVEN, Euntorville, 9 3-16 d. SUGAR) PRODUCTION. By Telegraph—Press Atsociation-Oopyrisht ■ London, July 22. Ilerr P. O Xicht, the well-known sugar expert, of Madgeburg, in the monthly circular, states that the production of beet susar in Europo shows a. decrease of 1.661,000 tons, lie still estimates that for the season there will be a total falling off of 1,769,000 tons. WHEAT AND FLOUR. London, July 22. The wheat and (lour afloat for the United Kingdom totals 3,530,000 quarters; for the Continent, 1.950,000 quarters; Atlantic shipments', 179.0C0. The total shipments to Europo -during the week amounted to 1,150,000 qua.rters, including 262.000 from Argentina. 175,000 Russian, 55.000 Danubian, 371,000 from India, and 40,C0fl from Australasia. (Rec. July 24, 0.20 a.m.) London, July 23. Wheat.—An Australian cargo has been 6old at 395. 3d. per quarter. SILVER. Bar silver is quoted at 27 15-163. per ounce standard.