COMMERCIAL ITEMS.

Dominion, Volume 6, Issue 1565, 8 October 1912, Page 8

COMMERCIAL ITEMS.

.; .: 'INVESTMENT' SHARES. .•• There'!'were no transaction yesterday in investment, shares. .The'.quotations were ■as und'ef:— ' , Buyers, Sellers £ a. d. £ s. d. National' Bank :.' 6 10 6 2 6 -Equitable Building - 5 17 6 N.Z. and River Plato — 2 2 0 .Well. Trust and Loan ... — 710 (1 Well. Dcpo'sit '....'. - 0 12 3 Palmerstoh ' N. Gas 9 0 0 — Well. Gas (£10) '. ....'•.. - 18 0 II Well. Gas (pref.l — 10 9 Meat .Export- (£5) 6 16 6 3 6 :Mcat Export (£4) ...-. - ■ 5 0 0 .Union Steam .' .'. 2 6 9 — Well. Woollen .(ord.) .....'. J 14 0 —- Leytand-O'Srieh — 17 0 Taringarautu Totara 2 5 9 2 6 3 C. M. Banks, Ltd. ... ... - 110 Sharland's ordinary ...;. — 12 9 Sharliind's preference — 13 0 LONDON-MONET MARKET. According to the • returns of the Bank of England published on Saturdiy.. tho Bold reserved decreased from £40,263,C00 to £37,-«O,«0, the shrinkage being .£2.820.000. .while ■ at the corresponding, period of last year the .shrinkage was £2.540,CC0. The movement- is a normal one, and is due to the quarterly d'ibursetherits. The proportion "of reserve.to liabilities shows greater variation. Last year the decline was from 55.34 per cent, to 51.45. or a fall of year the proportion fell from 60.39 to 48.74, or 2.65. The position to-day is much worse ..than. it was a year ago. The proportion of reserve to liabilities is below the' safety level, which may be placed at 50 per cent. The war preparations in the Balkans, the enormous losses on'the Bourses and Stock Exchanges of Europe, and tho heavy demands for money for crop movements •and for trade expansion, make the present position one of danger to the Bank of England, and unless in the interval something special happens, the bank Tate must be raised this week. Dear money in London will be reflected in Australasia, and that point must bo kept in mind. ' MEAT TRADE OF SOUTH AFRICA. , Immediately after the close of the Boer War an impression prevailed, and was endorsed by many business men, that South AJrica presented ,a splendid opening for frozen meat. This- view found great favour in South Africa itself, and so great was supposed to be the opening for the tc- . frigeration business at the Cape a decade ago, that a score or more of joint stock enterprises were created at one time or another to take advantage of it. and tho investing public- were asked for overeight millions of capital. When tho Imperial Cold Storage was Hooted in February, 1902, to embark in the cold storage industry, it had a share capital of only £650,CC0, but amalgamations soon caused an enlargement, and by November in the same year tho share capital bad been raised to ,£2, COO.CM. Disaster dogged the steps of the venture from the first; it lost hcav- ' ily on its military contracts in tho initial yea-i', and -widely as it cast its not. it Jailed.to secure anythng like » monopoly of. the trade. Nor did it allow sufficiently for fluctuation? in demand, or changes inpublic taste. Its priginal programme wa« confined to the importation of-frozen and chilled meat from Australia- and New Zealand, but subsequently i't had to transfer tile bulk of its attentions to the distribution of .colonial fresh meat, and it even emba-rked in the general store business. Thus a large proportion of the costly cold storage accommodation provided has gone begging. - THE SWASTIKA GOLD MINES, LTD.' \ In our advertisement of Mill compsay's prospsetui 7«*tor<iiy wo -raid, vita rsfar. enc« to the laxsa reef, 18 f«t ta tfiti^'

that bulk assay samples ranged from S=. to 12s. per ton. 5(1 feet, in on rap of reM. This was a .printer'; error, and should have read: "Bulk assay samples ranged from'Bs. to ia>. per ton at the outcrop and to 245. per ton 50 feet in on the can of reef.' The brokers, Messrs. VT. H. Turnbull and Co., report a steady placing- of shares yesterday, and anticipate that the capital will almost certainlv be over-=ub-t-nbed before the limit time (October 1)) for'closing, the'list is reached. • •'■" PAPAROA COAL-MINING CO. An extraordinary meeting of the Paparoa Coal-mining Company" will be held at tlm , Chamber of Commerce on October 21. to receive' the resignatton of .-the present ■ board of directors, and to'elect anotMr board (of seven). . ."■ ' Customs duties collected at the port of " ellmgton yesterday _am6unted to £17? i Bs. NEW ZEALAND SHIPPING CO. IBy Tclecraph.—Press .Association.) Christchurch, October 7. The ChTiEtchurch office of the New Zealand Shipping Company has received cable - advics that the annual meeting of shareholders will be hold in London on October 15.. The directors will recommend the payment of a dividend of Bs.- per-share- for the half-year, making-16s'.. per shate for the year. After placing £5000 to .the insurance ■ fund, 'a sum of £21,550 will be carried forward. ..... By Telegraph-Press • Association-Copyright (Rec. October 7, 9.20 p.m.) London, October 7. The. annual report of the New Zealand Shipping Company states that the - profits for the year amounted to £111,829,. after £30.000 has been added to the reserve. A dividend of 16s. for the year is declared, and £21,555 carried forward. HIGH COMMISSIONER'S CAULEGE/M. Tho Department of Agricu.ture, Industries, and Commerce bas received the following cablegram from the High Commissioner for New Zealand, dated London. October 5 (quotations, unless otherwise speci-fied,-are-average market prices on'spot):— Mutton.—The market is firm; with a hardening tendency, in anticipation of small arrivals. . No .immediate change in the market is expected. Canterbury, 49d. per lb.: fcorth Island, 4sd. Lamb.—The market is 6teady. There ia not much demand, but prices are firm. Canterbury 5Jd. per lb.; other than Canterbury, 55d. • Becf.-Thc market is slightly weaker, with less demand. A large supplv New Zealand hinds, 3Jd. per lb.; fores, 3d. Butter.-Tho market is very firm for best ouahty, but quiet' for second-class quality. Danish, 121s. per owt.; Siberian, 110s.; -Australian, -114s. Cheese.-The market is quiet, but st-.ady. Canadian, 655. per cwt. Estimated Canadian stock in England October 1. 317.K0 boxes. English Cheddar, 735. per cwt. Hemp.—The market to firm, and prices continue to advance. It is reported that American buyers are operating for a rise in Manila. Buyers are fearing an ad' vance and are buying freely. Spot-N.Z. %SS.J ai l S rade ' £29 f er ton : fair grade, £-7 Ms.; fair current Manila. £29 JanuarvMarch—N.Z. good fair, £29 10s.; fair gr-d'» £28; fair current Manila, £30. The outmit 5S ? la S,! la for '; hc ,vcc!t was 24,000 bales. Woal.-The market is firm at the advance Current Quotations for Bradford ; ;?." , s low Is. ?jd. per lb • !<os low crossbreds, Is. 23d.- Ci'K merlin™ crossbreds. Is. 3Jd.; 50's halfbreds, ls/'6ja • Ms quarterbreds, Is. 9jd.; 60's merinos, 2 s : s'&b""m£! pmmts MCelrtfl Awins • London 49.C84 ' 18.235 . Liverpool 42,*T6 ' 5R'4 Cardiff 7t7/6 ■»£ . J lll '-' B.OOD 651. ' Southampton 6,4"1 s~O Plymouth ;fn im Newcastle B.KO • -— . - ', , 122.217 25,35-8 ■ September, 1911.... : 261,878 10J,241 ' THE WHEAT'AFLOAT. Dy Telegraph-Press Associa'tion T Copyrlght ~,. London, October 6. hhipmcnts of wheat and flour -afloat on October 5, a week previously, and a year previously -yore:Oct. 5, Sept, 28, Oct. 8, 1912. 1912. 1911. TJnitod Kingdom. 2,345,(C0 2.295.030 2,365,(C0 Continent 2.160XC0 2.295.000 2.450.CC0 4,505,000 4,590,000 4.825.C0D t, 11 !- wl i eat shipped from the Atlantic and Pacific Coasts of North America during the past week, the previous week, and the corresponding week of vear is climated by "Bradetrcet's" to-he:-Oct. 5, Sept. 28, Oct. 8, ' " 1912- 1912. 1911. ».i ~ r- l ' 3rs - Q"- Qrs. Atlantic Coast ... 492.CC0 432,0(0 156.0C0 Pacific Coast 35,000 62,000 161.CC0 527,000 514,000 117,0C0 The quantity of wheat and flour shipped to Europe from the countries enumerated were as under:— Oct. 5, Sept. 28, Oct. 8, 1912. 1912. 1911. . ... Qrs. , Qrs. Qrs. Argentine 81.K0 56.CC0 69,00 }; uss ' a . •; 420.C0D 490.CC0 1:5,000 Danubian .states... 202.C00 2M.0C0 279 CtO I . ndla ,--: 115.C00 14D.C00 57.K0 ' Australasia 2.CCO 25.CC0 55.000 820,000 905,000 615.CC0 Total shipments to Europe from all ox-FiK-M? coui, « it;s .for the past week totalled 1.435,000 quarter;.' against 1.590.0C0 quartern in the previous week, and 1.145.0C0 quarters in the corresponding week of last year. WHEAT MARKET. . The market is quiet, but steadv : 3Bs.4>d is asked at four ports for January and February and 38s. ljil. for March, while o9s. has been paid for Australian parcels in Scptembcr-Octobcr.■' . LONDON WOOL SALES. By Telcgrapb-Press Association-Conyright ~..,.' , , London, October 6. At the .wool sales prices were fully maintained, and competition was keen:' For wo., ana the average 18Sd. The amount of wooj catalogued was 12 460 bales, and the amount sold 106,360 bales. LONDON -MAEKETS.-' _ _, London, October 6. Copra.-Th'ere is only a. small bwincfs doing. South Sea, bagged, afloat, £26 5s per ton. ■ • ■ . z Sj tra: _ 9!: tobor - XoTCmb<!r ' shipment', o.ioid. per lb. ■ _ Juto.-Scptombcr shipment, £24 15s. per ton. y Hemp.-Tho market is firm.. JauuarvMarch shipment; £29 10s.' per lon Pubber.-Fine bard Para.. 4s. Sid. per lb' Linseed Oil.-£33 ss. per ton. Antimony is quoted at £8. Kauri' Gum.- In stock, 424 cases.