COMMERCIAL ITEMS.

Dominion, Volume 6, Issue 1582, 28 October 1912, Page 8

COMMERCIAL ITEMS.

INVESTMENT SHAKES. The sales recorded on Saturdxv were: Christchurch Gas at £8 55.; Gent Jlrat (£1), at £12 155.; N.Z. Shipping, at £14; and Taringamutu Totara, at 46s The quotations were as under:— Buyers. Sellers. ,;.-,„, £ S.A. £ s. d. National Bank 6 0 0 6 2 0 Rquitablo Building — 9 17 6 Metropolitan — 12 10 o N.Z. and Diver Plate — 2 2 0 Well. Trust and Loan — . V 10 0 Christchurch Gas 8 2 6 8 5 0 Foilding Gas 10 5 — Palmerston N. Gas 9 2 6 — Woll. One (£10) - 18 0 0 Well. Gas' (third issue) ... — 14 15 0 Goat Meat (£4) — 13 0 0 Meat Export (£4) 4 17 6 5 0 0 Meat Export (525.. 6d.) — 3 0 0 N.Z. Shipping 13 17 6 - TTnion Steam — 2 6 9 Well. Woollen (ord.) , 3 14 0 - Westporb Ooal , — 18b Lcyland-O'Brien ~ ' 170 180 Taringamutu Totara 2 5 9 — N.Z. Drug —' 2 10 9 Saarland's Preference .... ■ — 12 9 Ward and Co — 6 2 f W.F.O.A - 7 5 0 INTERNATIONAL- MERCANTILE MAEINE. The following interesting review of the affairs of tho International Mercantile Marine Co., otherwise known as tho "Ocean Trust," ia extracted from' tho "Boston News Bureau' of August 27:—On December 31 International Mercantile Marine will complete its tenth year. Its decade has not been fraught with great success, but it is now believed that the intcntiou of tho Morgan interests is to build up the corporation and impart to its securities more investment value. The securities have not been widely distributed; most of them are still with original underwriters. One reason i 6 that the Common and Preferred have never paid a dividend, although interest on the First Mortgage Fives and Collateral Four and a Halfs lias always been paid. In 1904 and 1908 charges were not earned, and in 1903 and 1909 the balance after charges was slender. Itatio of expenses to gross has been entirely too high. It has never fallen below 78 per cent., and in 1908 rose to 97 per cent. In 1934 it was 94 per cent, and for 1911 79 per cent, and has avoraged 84.6 per cent. It should be well under 80 per cent., perhaps as low as 75 per cent, or 76 per cent. The lareest gross was in 1907 at £7,864.620. Tho next best was in 1911. Although gross in 1911 was £34,000 les3 than in 1907, net was nearly £200,000 moro, at £1,616,512, the largest oh record. Results for 1908 were the worst recorded. Although gross for that year was slightly in excess of 1904. it showed a deolino of almost £1,800,000 from 1907 to £6,111,412, while operating ratio rose to 97 per cent,, with the result that thero was a deficit of £558,465. Tho only other deficit was in 1904 of £407,830. Accumulated dividends on the preferred amounted to 60 per cent, up to July 1, 1912. This, with increased activity ot Mercantile Marino in the West Indies to secure Panama Canal trade, has given riso to talk that a new financial plan will be announced. No new financing, however, is in contemplation, LEAD AND LEAD PRODUCTS. : All users of lend products are faced with the difficulty of deciding whether to buy freely ot current rales or to purchase only from hand to mouth. The price of the metal has risen continuously since May last year, the advance iu that period amounting to over £8 per ton, or nearly 10 per cent, Carbonate of load, it is stav.

cd, was artificially put up some time ago by tho action of tho convention, when lead was Eouie .£'l per ton below its preI sent price, but the total rise therein docs not greatly exceed that in tho raw material. The other products have been enhanced in value very substantially, but according to recent mail advices, the rise in white lead is greater than that in any of the other lead compounds. It ie suggested that painters and decorators should turn their attention to zinc compounds, generally known as lithoponcs. A movement in this direction is taking place in Great Britain, and will no doubt ho accelerated as time goes on, unices more moderate prices for lead prevail. Another important factor in the paint trade is the unsettled state of affairs that for some time past has existed in t.be linseed, oil market. For this commodity quotations have tended downward during tho Jnst eighteen months, but the movement has been by no means consistent or regular, and thero havo been occasional upward variations, tho causo for which have not been apparent to importers here., Eighteen months ago, however, tho rates for Bluudell and Speucc's oil were ss. 6d. for raw and ss. Bd. for boiled, whereas current quotations are 4s. 7d. and 4s. 9d., showing a present advantage of lid. per gallon. Tho speculative element, always sensitive, feels tho influence of coming crop prospects, forecasts regarding which arc extremely optimistic generally. This ie causing farmers in America to rush to market with their holdings of old seed, and it is stated that never before were Englisn crushers in as good a position to lay in stoche. If all the anticipations be realised the paint trade should bo favourably placed with regard to this particular commodity in tho near future. COST OF LIVING.

A series of Interesting comparisons, showing how wholcsalo prices of groceries have risen in England since 1698, has been compiled by the, 00-operative Wholesale Society, Ltd., of Manchester. The figures have been arrived at from calculations based on an annual turnover of not less than ,£20,000,000. Taking general lines, tho computations disclose that the increased cost in 1906 over 1898 was equal to 5.37 per cent.; in 19C8 it represented 9.95 per cent.; in 1910 it etinallcd 13.36 per cent., and last year tho rise was slightly lower, at '1.20 per cent. The articles included in the return comprised bacoD, butter, cheeso, flour, lard, meal, eugar, and tea. On the basis of what is termed "an average weekly family grocery order." for goods, making a gross weight, of 21J1b., the alterations in cost to the customer are given as from 63.85 d. in 1898. to 67.25 d. in 1936, to f0.21d. in 1908, to 72.38 d. in 1910, and to 71.00 d. in 1911. For tho full term under notice therefore tho increased outlay on the eame "order" is 7.15 d. A. further calculation made bv the society deals with the average woeltlv family order, os governed by the purchasing power of £1. In 1898 the householder obtained for that sum groceries as indicated above, and the aggregate weight of 80.811b. In 1956 hie xcH::-n in avoirdupois had dwiudlcd to 76.691b.. and in 1918 a further .fall reduced it to 73.491b. In this respect bedrock was reached in 1910. when for the sovereign only 71.291b. of groceries was purchasable, last year, showing a slight improvement to 72.671b. Thus, in tho interval between 1898 and 1910, there wflfi a reduction of 9Jlb. in the wciuht of goods given in exchange for £1 sterling. CUSTOMS. The Customs revenue collected at the port of Wcllmirton on Saturday amounted _to £1051 13s. lid., the total for the week being £23,996 15s. 4d. Tho returns for each of tho past eight weeks, compared with tho figures for tho corresponding periods of last year show as under :- 1912. 1911. P. £ October 26 23.997 21,738 September 7 10.446 20,406 September 14 26.133 13.455 September 21 21.553 21.591 September.2B 15,353 7.533 October 5 34.496 10,117 October 12 rj.... 11.713 9.908 October 19 ±... 8.748 9,340 152,453 122,148 The beer duty collected for the week totalled £246 12s. 3d., an compared with £193 16s. for tho corresponding week of last year.. FEILDING MARKET REPORT. Messrs. A. 11. Atkinson and Co., Ltd., of Feilding, report a brisk market on Friday for pigs, poultry, aud various lots of farm implements, gigs, etc. Old potatoes showed a considerable advance, and there is keen inquiry for ton lots. Quotations:—lß- - heifer, £3 7s. 6d.; cows, £6 103.; good weancr pigs, 125., 135., 14s. 6d., 15s. 6d., 16s. 6d.; slips and stores, 17s. 6d., 21s. 6d., 235., 265. 6d.; baconcrs, 385., 425.; sheep dogs, ss. 6d. to 17s. 6d.; gigs, to £10; secondhand drills, £5 to £10; harness, £2 10s. to £3; Sandon ryegrass seed, 4s. per bushel. Poultry: Hens, 4s. 9d. to ss. per pair; culls, 3s. 6d.j hen and chicks, 75.; ducklings. Is. 6d. per pair;'chicks. Is. Produce: Potatoes, 13s. to 14s. per sock; pig, do., 25.; seed do., 65.; onions, equal to 3d. per lb.; bacon and hams, 9d. to 10d.; wheat, 4s. 3d. per bushel; damaged peas, 2s. 6d. per bushel; hickory maize, 7s. fid. The Wellington Stock Exchange received tho following telegram from the Worksop Dredging Co.:—"Return, 98oz. 9<hvt. for 125 hours." NORTH OTAGO 3IABKETS. (By Telegraph.—Press Association.!

[ " Oamaru, October 27. There is still no inclination to do business in wheat, as farmers want more than buyers ore prepared to give. Velvet is most in request, and, for this, 3s. 7Jd. to os. Bd. net at country stations has been paid. No business has been done in red chaff or Tuscan,'hut for a lino of solid straw Tuscan, 3s. 6d. was given net at a country station, aud mixed lines have been sold at 3s. 6d. to 3s. 6id. on tho same terms. Oats are offering sparingly. and Is. fid. for B Grade Gartens has been raid. Potatoes are bought only for immo diato requirements, but. there has been a market advance in prices, indicating that stocks are 6iuall. The week opened at £8, and closed at £8 10s. to £9 on trucks at country stations. LONDON MARKETS. By TeleEraph—Press Association-Copyrlcht (Roc. October 27, 5.5 p.m.) London, October 26. Wheat—The market is dull; 395. 3d. is asked for Australian January-February shipment, and 395. for February-March shipment. Copra.—The market is quiet. South Sea, bagged, October-November shipment, £25 15s. per ton. Jute—Native first marks' of raw inte, 1 October-iYovember shipment, are selling in , Dundee at £2-5 17s. 6fl. per ton, an advance of 17s. M. on last week. I New Zealand hemp—The market is very I firm. January-Jrarch shipment, 40s. iiiffher'i at £34 per ton. Cotton—October-November, shipment of American middling cotton are selling at 6.01 d. nor Ihi Rubber.—Fine hard para rubber Is quoted at 4s. 53d. per lb. WHEAT AND FLOUR AFLOAT. (Kcc. October 28, 0.20 a.m.) London, October 27. The wheat and flour afloat for the United Kingdom totals 2,235,000 quarters, and for the Continent, 2.350.CC0 quarters. The United States Atlantic shipments total 590.CC0 quarters. Pacific Coast, 4WO.CCO quarters, Argentina Z6.CCB quarters, Eussian 415.CC0 quarters, Danubian 93,000 quarters, Indian 167,000 quarters, Australasia 77,000 quarters.