COMMERCIAL ITEMS.

Dominion, Volume 6, Issue 1566, 9 October 1912, Page 10

COMMERCIAL ITEMS.

INVESTMENT SDARE3. A sale of Taringamutu Tptara, shares at 46a. was the only transaction recorded in investment shales . yesterday. The Quotations were ais under:— Buyers. Sellers. ■ £ «. d. £ i. d. National Bank 6 10 — Equitable Building - 5 17 6 N.Z. and Eiver Plate - 2 2 0 Christchurch Gas 7 17 6 — Well. Gas (£10) - 18 0 0 Well. Gas (pref.) •'■. — 10 9 Well. Woollen (ord.) 3 14 0 - Westport Coal 18 3 - Westport-Stockton — 0 4 9 Leyland-O'Brien Timber .16 6 - Golden Bay Cement 10 6 — Sharland's ordinary - 12 9 Sharlaud's preference — 13 0 JAPAN'S COMMERCIAL AMBITIONS. Tho balance of trade is strongly again6t Japan, whose financiers, writes Mr. ConsulGeneral Sammqns, of the United States Service, arc striving to devise means of Increasing exports. Heretofore, aside from raw silk, tea, etc., the country has largely exported curios and other articles of slight practical value, but the Japanese captains of industry now point out that something more substantial and representative is wanted. This campaign to secure a. foreign trade balance that will satisfy Japanese pride and patriotism extends beyond' Japan proper, and includes in ite scopo the cotton and either agricultural jiossibililins ofl Chosen, rubber, and cotton investigations, and a rapidly-growing sugar trade In Formosa, and a participation in China's con-ton-spinning enterprises. The abolishing of tho export duties of.Ohoscn, one of the features of tills campaign, is expected to stimulate cotton raising, and send more of Choscn's excellent rice into further competition throughout the Far East, and In limited ciuantitics to Europe as well. Experience has shown that, while the J.ipanese ara clever in various industries, manufacturing enterprises must depend al the outset largely on foreign technical guidance, and that losses for a year or two must be expected. The new tarift and other protection that is given to tho Infant industries in Japan have caused a number of now manufacturing enterprises to spring up, but the importation of foreign products continues to increase. THE COST OF LITING. A'committee of Public Servants of Tasmania recently compiled, for submission to the Public Service Board, a series of tables, demonstrating the increase in wages and the increased cost of living. The committee has dealt with-the matter in five tables, viz., wages, clothing for wage-earners, rotail nrices of provisione, houee rent, and a general statement. Its conclusions are that wages have gone up 32 per cent.; that clothing has ad'vanccd 64. per cent., provisions 28 per cent., and house rent 55 per cent. But these fig-urea arc finite fallacious. The way they are arrived at is as follows:—Bootmakers' wages have gone up 13 per cent.; sawmillers have advanced 24 per cent.; bakers have advanced 17 per cent. Add the three percentages together, divide by three, and the result is the percentage by which the wages of the three groups of men have increased. Now, this would be 66, supposing that each group of men contained the same numher; but manifestly the numbers vary, o.nd if the number was greater in the trade which had the least advance then the real average would be considerably lower than the average obtained in the crude way in the report. In the same way, a man does not dhtain as many blankets in the course of the year as ho docs suits of clothes, yet in tho average the blanket is given equal weight with the suit. The table is, however, interesting in its individual items, and no doubt, as far as the individual items are concerned, may be relied on. The increases shown by 1911 prices, compared with prices of 1905, oro given as follow:— Clothing. Boots ! 35 per cent. Hats, felt 33 per cent. Shirts, coloured 66 per cent. Suite 33 per cent. Blankets :.... 81 per cent. Flannel 77 per cent. Sheeting 33 per cent. Tweeds ICO per cent. Provisions. Butter 33 per cent. Cheese 10 per cent. Milk 25 per cent. Barley, pearl 25 per cent. ' Biscuits, plain ICO per cent,. Bread 16 per cent. Flour 33 per cent. Sugar 20 per cent. Tea 33 per cent. TRADE WITH THE UNITED STATES.. A return recently laid on the table of the House of Representatives gives, among other information, particulars of United States tonnage entered at Australian and New Zealand ports, the. imports and classes of imports into the Commonwealth and New Zealand from the United States, and the same Information as regards exports to the United States. The subjoined tables shows how the United Sfatm tonnage in Australian and New Zealand ports declined since 1907: — United States Tonnage Entered at Aus.-ports. N.Z. norts. 1907 90,250 34,981 -1908 50.C89 1,665 1909 1,685 1910 24,957 991 1911 1 33,410 3.C52 This falling-off of United States shipping did not affect the imports from the United States, imports having increased about one-third in the case of Australia and onntiixth in tho case of New Zealand.' , The totals may be given thus:— Imports from United States to Australia. New Zealand. £ £ 1907 6,765.182 1,425.596 1938 6.501.8'6 1.643.937 1909 5,935,740 1.U6.C3J 1910 7.650.150 1.399.737 1911 9.CG7.657 1,682,120 Exports to the United States did suffer and that severely. Total exports of Aus' tralian origin declined £BOO,CCO, and New Zealand over £280,000. the proportions being 35 per cent, and 39 per. cent. The statistics a-re:— Exports to the United States from Australia. New Zealand. 15J7 2.388.496 7RC63 IWB 2,3C9,5U 326 415 \ J»W 2.564,710 684,810 1910 1.562.C60 553,603 .1911 1.430.C03 4341560 NOTES. An interesting statement showing the yearly value of the cotton produced in the Southern States of America is given in a Consular report on tho trade and commorce of the Consular district of New Or loa-ns. It is stated that the yearly value of, the cotton produced in those States is greater in amount than that of the gold and silver mined everywhere.' The netuil figures are:—Value of 11 years' cotton crop, years 1901-11, £1,607,000,000. Value of gold for tho same period, £807.000.000. and silver, £231.200,000, together £1,038,000 000 The advance in the production of crude iron in Germany continues on a great scale. The quantity produced in the month 01 .luly was 1,468,001 tons as compared with 1.290,106 tons in July, 1911. The largest pro diiction of any preceding month was that of liny last, when it reached 1,463,677 tons ' The output for the first seven months of this year is given as 9,692,643 tons, which compares with 8.972.745 tons in the firn seven months of 1911. Thus 1912 bids fair to become a record year in the German crude iron industry. Two factories in Germany have recently started producing substitutes for .iutc It is said that the patented process'consists of mixing cotton waste with pnnor pulp. The pulp, with its costing of cotton waste, is thnii rendered sufficiently stroll" to be woven. One of the two factories" wbiiih is si'tunlcit in Saxonv. produces' chielly canvas for tapestry, which hither' to has been made of iutc. the ect of the mibst'itntcil article being about. 20 ner cnnt lower I Han that of the real jute produce The other factory, which has been estabi lishcd in Silesia, lias been opcrntiiiK Willi 150 looms since March. Stops ■ are beinc taken, however, for doubling that number. A report adds that experiments made with a view to employ the just substitute for bagging have fihown that the baes manufoctured from the niaterial are iq strong as real jute bans, and prove of better protection ngaiu.-t dust, owing to the peculiar way in which the cotton n,irt« nre becoming entangled by the finishing , nroft i= not too radical an !?«<ertion to M.itn that tho American mitor-car industry U p93clnß through om of lt.« we*'. Imporuiit r.rl»i. According <* tti« "Beitea ,V»t« It Iβ sot flutncliL but Dureb

of trade significance. In a lirnnd way it represents 11 distinct turning away from tho ultra-high-priced car and dioguM. with tho infinite variety of models with which manufacturers iccii to ilazzlc their bmcrs. At least three of the highest-priced automobile concerns in the country have found it rather i-low sailing this past year. In their hasto to get iu touch with the public demand, two of these compnnicH are making a Ires expensive typo of car, which they call the "smaller six," and arc Belling it at about £4CO less than their big cam, which they formerly miule exclusively. Among the high-priced auto ninkcra there u everywhere striking evidence that the turn 111 the road has come, and their nplcndid factory organisation* are d.'vising models to satisfy the public demand for a high grade car thai d-aca nut sell at much over £6CO. TKADE IX ALIjEX STIIKKT. Onions.—A further shipment of (Jalifnrnian onions fc due to-day per Tahiti. Thu current ouotolion is 15s. to 16s. per cwt Flour in without change, and is ouotrd at £8 lCf. to .£B 15s. per ton, f.ob south less usual discounts. Pollard in in good demand at £6 15s. to £7 per ton. Bran.—Heavy supplies are available and the market, is ruling at £5 £i. to £5 10s. per ton. Maize.—Owing to the new season's crop beinc available, the value has declined lu. per bushel, and the quotation is now se. to ss. 2d., with seed maize, "liickory King," ruling at fe. 6d. per bushel. Oatmeal.—Owing to tho advent of warmer, weather sales have fallen off tomewhat; the current value is.'£l3 IC6. to £14 per ton, according to brand. Boiled oats iu 41b. bags continue at 9s. per dozen, with oatina at 9s. 6d. Oats.-Short feed and Dun oats arc eolling at 2s. 9d. to 3s. per buehol, seed Algerian, 3s. Jd. to 3s. 6d. Hay.—Ordinary hay ie selling at £3 15s. to £4 10s. per ton, with very little inquiry; prime ryo and clover, £5 15s. to £6 per ton. Chaff.-Primo oaten-sheaf chaff, £4 10s. to £5 per ton, with medium at £3 10s. to £3 155.. all sacke in. Fresh eggs are in excellent dcoiajid at lid. par dozen. Butter—Prime 'milled, in hulk, lid. per Ib.: good, at 9d. to 10d. Jlorgarine, in 281b. tins, Scottish manufacture. Bd. to BJd. per lb. Cheese, best factory, medium utee, 7d. per lb.; loaf. 7*d. to 73d. is dull of sale at £5 155.. per ton. and rice flour at £6. Split peas arc quoted at 17s. per cwt. Prussian Blue peas are dull of sale at 7s. per bushel. Partridge pens have good inquiry at 3s. 9d. to 4s. 3d. per bushel. Whole linseed is steady at 16s. per cwt. Linseed nuts are quoted at 13s. 6d. per cwt. Crushed linseed cake, 14s. cer cwt. Fruit.—The Tahiti,-due to-day, is bringing CaJifornlan apnlefi and oranges and bananas from the Cook Islands. The Ulimaroa. due from Sydney to-day, is bringing an exceedingly smali shipment of mandarins, sweet oranges, pineapples, p.T"ion fruit, loquflts. and lemons. The Navna, due from Fiji to-morrow, ie bringing the usual monthly shipment of bananas. Ponrman ornnses are exceedingly slow of sale, whilst New Zealand-grown lcinone are in excellent demand, and consignments are recommended. Vegetables.—Consignments of carrots, parsnips, cabbages, and cauliflowers arc recommended; as these vegetables arc just now making high prices. Heavy supplies of new potatoes are now coming on the market, and prices have declined; old pot-i----tocs continue in good demand, whilst seed potatoes are very difficult to quit. Customs duties collected at the port, of Wellington yesterday amounted to £2516 lls. lid. GRAIN AND PRODUCE. ißj Telegraph.-Press Association.) . Christchurch, October 8. Practically nothing is doing in the local grain market, the absence of export trado keeping business very quiet. Very little Is offering by growers and local demands are limited to millers, who stocked up heavily in the oarly part of the season, and have made occasional purchases dnco. There have not been very keen inquirers for wheat, as there is no likelihood of any further export of this cereal, They will probably buy only sparingly till some ideaof the prospects of the new ecason'e crop can be CaincS. There is a little better inquiry for potatoes. Prices remain about the same. MEAT JIABKET. Messrs. Gilhoti, Anderson and Co., tondon (Messrs. Jlellsop, EMott and Co., local agents), report under date:—Slow demand for lambs and beef, and high prices for mutton has resulted in poor trade during the week. Ilome-grown: Beef, sd. to Bd.; mutton, 6id. to Bd.; legs, 61d. to Ed.; ewes, 4!d. to sid. (Dutch 61d. to 7d.): lambs, 7d. to BJd.; Scotch Hill lambs. 6id. to 7d.; Dutch, 6Sd. to 73d. Chilled ■ beef: Supplies heavy, prices weaker, fores 23d.. hinds 4d. Frozen beef: Firm, compared with chilled. New Zealand fores, Is. Bd. higher, 3!d.; hind 6, same. 3Jd.; Australian fores, I-1601 more, 3 1-16(1.: hinds, 33d. Plate fores and hinds the same, 3d. and 3Jd. Frozen mutton: Very firm for all weights. Canterbury. u/48, 4Jd.; £6/64, 4 3-Bd.: 64/72, 45d.; Southlands and best North Island, 56'64, 4 3-Bd.: ordinary, 56/64, 4 3-16 d.; ewes, Id.; Australian. 4Jd.; ewes, 4(16 ; Plates. 41,16. Frozen lamb: Prices a trifle weaker. Very dull trade: Canterbury, u/36, l-16d. lefs. 5 13-16 d.: 36/42. 5?d.: 42/51, 5 1-lfd.; best North Island and Southlands. sgd.; ordinary North Islands. 5 9-16 d.; Australians and Plates, none. ADELAIDE WOOL SALES. Jfcssrs. Dalgety and Company, Ltd., Wellington, have received the following cnblegram from their Adelaide ofliro. dated October 7:—Wool: Market very strong. At yesterday's Kiles there net good offering, and almost a. total clearance. Since the opening snles this searon, merino, best -qualities, 2J per cent, to 5 per cent, higher; medium, par to 1\ peT cent, higher; inferior nnd faulty, unchanged. Lambs wool: Market easier. LONDON WOOL SALES. By Telegraph—Press Assoviation—Oopyrigbt London, October 7. At the wool sales th».ve was a poor selection. Prices were firm. Uec. October 8, 11.55 p.m.) London, October 8. The following are the prices realised at the wool sales for the fleece portions of the clips named: Tn.ra.tahi, top price. 15d.: average price, 11 3-Bd, Glynwye, 21d. and 20 7,-Ed. SILVER. London, October 7. Bar silver is quoted at 29 9-16(1. per ounce standard. MINING NEWS. WELLINGTON SHARE MARKET. There was only one call yesterday, and that was in the morning. No tranKictione were recorded, and the quotations were a3 under:— Buyer*. Scllere. £ s. d £ s. d Murray Creek 18 6' 110 6 New Sylvia 0 13 0 15 Talisman 1 19 3 1 19 9 Waihi -. 1 16 0 -■ Waihi Grajid Junction ... 1 2 9 13 3 Waiotahi 019 0 1 11 Waitangi 0 0 10 0 0 11 Worksop Dredge 3 5 0 — STOQK- EXCHANGE. (By Telegraph.—PrcEa Association.) Auckland, October 8. Business done on 'Change this mo'rninc:New Sylvia, Is. 3d. National Bank, £6 Iβ. 3d. Dcvonport Steam, £1 16s. Business done at the 3.15 p.m. call to-dav New Sylvia, Is. 3d. New Waitangi, 10d. Sason, 9Jd. Christchurch, October 8. Sales reported :—Canterbury Mutual Benefit, £11 os.; Permanent Investment, £10' Christehurch Gas, £8; Union Steam, 475. 3d. Dunedln, October 8 The following sale was made 011 tho Stock Exchange to-day :-Waihi Grand Junction. £1 3s. ■ The following sales were reported:—Union Steam, £2 7s. 3d.; N.Z. Drug, £2 IDs. 6d. REEFTON RETURNS. Roefton, October 8 Kccpit-Dark crushed IPI2 tons for 1770z 4dwt. melted gold, and 950z. 15d\vt. bullion from cyanide. Pactolus: 440z. 2dwt., for 202 hours. TALISMAN RETURN. During the month of September the Talisman Consolidated Company crushed and treated 3550 tons of ore for a yield of bullion valued at £21,132 17s. 7d. The smaller tonnage is owing to the breakdown of the compiCMor, causing a stoppage of the raine and mill, and also to the miners taking one day's holiday. The costs for the last month totalled 445. M.. made up as fiillow:—Jlino development, 13s. 3d.; mining, 13,-. lid.: milling. U-. lid.; cencral, 2;.-. M.I paid tribute!-.- for ore crushed, £116. .Sent to London the following cablegram:—No. 17 winze: Progren-. six feet; reef eight inche.; wide; values low. LONDON MINING QUOTATIONS. By Telegraph—Press Association—Copyright London, October 7. The closing quotations wcrc:-W:iihi Goldininine. 32-. 6d. (buyers) and 35i;. (sellers): Talisman*. 37.--. 6d. and 425. 6d. MOUNT MORGAN HKTURX. Brisbane, October 8. The Mount Mnrg.in gold reduction works during September produced 2793 ounces of gold, Mid the copper wc-rkt P,IO tons rt ?c. Rued eor."", wi MH o»ne« of sold, the total Taiu4 being £91,04 V -.

NEW ZEALAND NEWS. IB» TcleiiraDh-l'reii Aoioolation.l DEFENCE. COUNCIL'S KKI'I.Y TO I'KACK sotuwy. Al Iho lloroiigli Council im-eling a lettor rr.,in 111.. IVacc Hocicty Inn-wing Ih<. Hclcnc Act. was not i.vid. A motion whs |his>, l( | uiiiiiiiiiioii).|.v Hint, "us fur us tins nmiinl is awniv. m) person in Wiiiron t oitul.v is opposed In tlio |ir«sonl. nrriiiiai'iiionts lor (he .M'cncc oi , Ilir Dominiiin or imli-ixii-ed (o nil! in Iho dcfemo of tno country. DUNEDIN COMPETITIONS. Duncdin, U.clnber 8. 'I'lie Duiicdin competitions were conliniii'il this al'tonioun mid evening with I lie lolloHiiiij rustilU:— Vocal J)uet. amateurs, ladies and gcntle-mcn.-Mis.s M. Wnlto'n mid Mr. F. H. Taylor, 1. Tlio only competitors. JJocilation.-Miss lithul Churchill, 1; Hiss Kcno Aslin, 2. Bass Solo.—W. Walters, 1; W. Gcmmcll, Dialogue.—Miss Howio Stuart and Mr. E. H. W. Hunter. 1; Miss Ethel Churchill and Mr. W. Crawford, 2. Song, amateurs, gentleman, sclf-accom-panicd.—Jlr. V. H. Taylor, 1. Vocal Duet, ladies.—Misses Maud Pitches and Lucy James, 1; Hisses May aiifl Daisy Walton, 2. . Half-hour Entertainment.—Missps Helen Gardner, Bathie, Hou-ie, Stuart, Lizzie M'Laren, and Messrs. Noel M. Smith, David Wright, Colin J. Gray, and Clivo A. Vivian, 1; Misses Pitches, Mazcngaxl), James, Churchill, and M'Laren, and Messrs. Smith. Crawford,' l'acey, Blackie, uml M'l'eak, 2. ; SAD OCCURRENCE. invcrcargiU, October 8. Aubrey Kinvin Corrie, aged,seven years, was killed in the AVinlon Station yard at 5.30 this evening. He was playing with a companion, and stood on one of tlio railway tracks when shunting was proceeding, and apparently he did not notice tho trucks approaching. The van and a truck passed over him. Death was instantaneous. Deceased was the son of A. K. Corrie, of Dnnedin, anil had been stayiug with his grand-parents. ANGLICAN SYNOD. Christchurch, Oclober 8. The Diocesan Synod opened to-day, Dean Harper, commissary of J3ishop Julius, presiding. The presidential address referred largely to the Church of England Men's Society, the result of the visit of tho General Mission from England two years ago, and tho Bible-in-schqols question. He referred to the formation of the Bible-in-Stato Schools League, and hoped that tho effort of the league would be crowned with success, and that the apparition which now confronted advocates of religions education would be overcome, by united action. WHO PAYS FOR THE DROWNED? Waihi, October 8. The Magistrate's Court was . occupied most of the day in hearing a case brought by Robert Worth against Joseph Snell, butcher, of Waihi, for the recovery of ,£.'69, being the cost of eleven cattle bought from Kirk Bros., Taurauga. Plaintiff stated that Snell had authorised him to buy fifty head of cattlo at the Tcpnke sales, and that he bought the cattle for Snell as his agent. A' number of these eattlg were drowned in crossing the Wharcpoa. Ferry. Tho matter in dispute is really who is to pay for tV.c drowned cattlo. The case is proceeding to-night, and is likely to occupy tho rest of the sitting. A. 4 P. TESTIMONIAL. Palmerston, October 8. The Manawatu A. and P. Society has decided to donate fivo guineas toward* a memorial which is being given tc Mr. Edwin Hall, of Auckland, who was for many years secretary of tho Auckland A. and P. Association, and of various conferences of associations. MINER COMPENSATED. Auckland, October 8. In the Arbitration Court, it was stated that a claim for compensation by Frederick ICorris, miner, against the Waihi Gold Mining Company, had been settled, defendant agreeing for judgment for .£250. Plaintiff was struck on the head by a piece of rock falling from'a rise, andJiad his sight and hearing permanently injured. FAR-REACHING. Gisborne, October ,8. A recent decision by tho Chief Justice (Sir flolwrt Stout) in the cafe Harvey v. Summerfield, held that alienation contemplated under Section 200 of the Native Land Act (dealing with morothan ten owners in a block) are dealings by the whole of the owners. Tho decision is taken to menn that Native Land Boards cannot grant precedent consent until all signatures have been secured. The Tarawhiti Board took that view to-day. Tne decision will have a far-reaching effect in Native land matters. BRIEF MENTION. Hastings, October 8. A sudden death occurred yesterday in Napier Hospital, when J. AV. Weir, aged 2C, collapsed from heart failure..