COMMERCIAL ITEMS.

Dominion, Volume 6, Issue 1616, 6 December 1912, Page 8

COMMERCIAL ITEMS.

; INVESTMENT SHARES. A sale of Wellington Trust and Loan, at £7 7s. 6d„ was the only transaction recorded in the investment market. The quotations were as under:— Buyers. Sellers. £ 6. d. £ s. d. Bank New Zealand ' 11' 0 0* - Equitable Building — 916 0 1 Well. Trust and Loan ... — ■ 7 10 0 FoUding Uas , - 1 o'6 Napier Gas (£5) . — ' H 0 0 National Insurance -203 — Meat Export (£4) - 5 0 0 Meat Export (525. 6d.) — 2 19 0 N.Z. Shipping 14 00 - Hikuransci Coal. 0 10 0 — ■ Taapiri Coal 12 3 — Lcyland-O.'Brien ..-. — ill Taringamutu Totara 2 7 0 2 0 0 Golden. Bay Cement — 110 W.F.C.A. - 7 5 0 ■''Quim dividend. WELLINGTON WOOL SALES. ,'Tlie first of the Wellington woo! sales for the current season will begin/at. 9 a.m. in, tho Concert Oha.mber of the Town Hall, today. The catalogues to be submitted com-prir-s over 11,000 .bales, and: the sale will probably last all day. There is certain to be a'good attendance of buyers, and values will be on an ascending scale. If the ,whole of this wool is cleared at the sale, about £190,000 to'£2oo,ooo will be distributed amongst the consignors, who, of course, are mostly resident in the Wellington-Wai-rarapa districts. ■ A. BOOM IN TE'ADE. , The fact that London newspapers anticipate a trade boom next.year is of more than passing interest. If the British working classes.are fully employed and British industries-work with feverish activity, New Zealand producers must benefit, for the prices of produce' mtiiil advance under the circumstances. It may be that one or two. lines will suffer, but the general effect will, be to enhance prices. The money market will in all probability continue stringent, because the demands are certain to bo on ain unuistitilly -large.- scale. Furthermore, where large, profits are to be made, no hesitation will be displayed in paying comparatively high' rates for money. ' AUSTRALASIAN RAILWAYS. ! ' ,The "Insurance and Banking Record" of last, month, besides dealing with the banking averages, •■one-man companies,", 'and other Subjects,' has anV article, upon tho Australian and New Zealand railways in 1911-12. It states the position .of tho Australian Government -railways as under:— "'"."-.' 1910-11. 1911-12. ; Grbss earnings.. 17,816,361 19,031,251' 1,224,£90* : Working expenses .11,C08,1Z0 12,387,795 1.379.C65* Net earnings.... 6,798,231. 6,643,455 154,776+ Interest charge 5,470,538 5,646,348 175,810* Surplus -.... 1,327,693 997,107 330,586'+ • ' 'Increase. +Decrease. . The New Zealan'd' ; rSilway.s': v g'iye''the~;fol-; : lowing comparison:— 1910-11. 1911-12. £ £ £■ Gross earnings.. " 3,494,182. 3.676.5C9 182,327* Working expenses. 2j3Q3,272 2,465,896 162,624* Net earning V... '1,190,910 ' 1,216,613 19,703* Interest charge 1,236,623 1,283,982 47,359=' Deficit ........... ' 45,715 73,369' 27,656+ ' *Increase. +Decrease. . As profit-earning establishments both sys : '' terns show some'retrogression, mainly as the result of higher working expenditures. The trouble is that they arc likely to disclose a much more considerable falling-off in riot results in the: current financial year, as traffic has ceased to show any material "expansion, and charges keep mounting up.. The Australian returns above do not include the Northern Territory, line, the receipts of, which la3t year reached £11,805, while 'the working expenses were £13,841, indicating, a loss on workinfnf £2036, apart from the interest on capital. COMMONWEALTH BANK OF AUSTRALIA. ■'An interesting return has been published showing the amount of liabilities and assets of the Commonwealth Bank'of Australia on September 30 last. It i 3 as follows -.—Liabilities : Depositors': balances, £269,085; deposits in 'transitu, "£19,617, less withdrawals, £753, £18,864; total, £287,949. Assets: Cash 'at bankers, £65,044; Postmaster-General, £6263: .deposits in transitu; £19,617, less withdrawals, £753, £18,864; total, £25,127. Investment account: Tixed deposit, receipts at 24 months, 4 p»T cent. Bank of New South Wales, £40,000; Union Bank of Australia, Ltd., £40,000; Bank' of • Australasia, £20,000; English, Scottish, and Australian Bank, Ltd., £20,000; Victorian iiovcrnment debentures at 3J per cent., including accrued to date of purchase (face value £25,000), £23,534; Melbourne and Metropo"tn.n Board of Works debentures at 4 per cent., including interest accrued to date of purchase (face value £25,000); at 3S per cent, £10,064; at 4 per' cent., £14,176; advance to general' banking departments, £10,OCO; total, £287,947, COMPANIES REGISTERED. . -In the list of rompanics registered, published in the "Mercantile Gazette" this week, there appear the following :— Five Mile Beach Gold Extraction Co., Ltd. (The), registered November 28. Office: 37 Panama Street, Wellington. Capital: £20,000, j into 20,000 shares of £1 each (7000 are f.p.u.). Subscribers—Stratford: J. M'Cluggase. Wellington: G. T. George, H. Hall, 0. P. Kndght, H. W. Williams, A.-B. Whyte, F. H. Irvln, all one sharo each. Objects: Mining and incidental, i Economic, Ltd. (The), registered as a private company, November 29. Office: In Broadway, Marten. Capital: £1000, into ICCO shares of £1- each. Subscribers—Wellington :.' J.. Nutter, 500; G. B. Gregory, 250; A. M. Lewis, 250. Objects: To acquire and take, over as a going concern the business of draperß, mercers, and clothiers hitherto oanried on by "Frost and Gahagan" at Marton, under the, style of "The Economic," and to carry on. the' business of drapers and furnishing and general warehousemen, an all branches.. .'Johns, Bannister and Co. Registered November 22. Office: Lowe Street, 'Gißborne. Capital: £3000,' into 3000 shares of £1 each. Subscribers: Thos. Gee Johns, SCO; Alb. Rich. Bannister, 500: Jno. Henry Ormond, 33; Percy Geo. Andrew, 43: Alex. Henry Colebrook. 33; Edgar Ward, 33: Arthur Sawyer, 33. Objects: To acquire/the letters patent granted to T. G.- Johns and A. R. Bahnistor for inventions relating-to variable power transmission'.gear and..the apparatus and machinery therefor one!. develop the same. ' ■ ' >'•■■ '-NOTES.- .' '.'',- The Canadian Bank of Commerce has undertaken the task ■ of estimating the grain crops of Western Canada,;and places the totals for-the harvest now ' completed at wheat 190,000,000 bushels/oats 224,500,000bu5he15, barley "49,600,000. bushels, and 'flax 12,900.000 bushels, with a combined value of £63,140,000. - The-- figures differ eomewhat from, thoeo.pf .the Government. . -. An official' estimate of : tho production' of gold, and silver in the .'United States in 1911, made in a joint statement of tho Bureau of the Mint and tho Geological Survey, places tho tota.ls at 4,687,053 fine ounces of gold, valued at £19,750.000, and 60,399,400 fine ounces of Bilvor, valued at £6,700,000. The voluo.of the gold produced was greater than any year except 1909, which ~was £20,400,000. •• California led all the States dri gold, with £4,000,000, and Nevada in .silver, with £1,400,000. A report on Fiji from the Colonial Offico says :—"Tho total area of land under sugar cane cultivation on December 31, 1911, was estimated at 43,358 acres, from which were produced 488,534 tons of sugar cane. The ; area under coconuts, or cultivated by Europeans, and exclusive of native plantations, ' was estimated at 37,562 acres. The estimat- : ed cultivated area under bananas and pino- ; apples on December 31 last was 4692 and 230 acres respectively. These figures do not include native plantations, as to which details are not available. It is from native plantations that tho greater part oT : the green fruit exported is produced. Fruit so: grown is sold under contract to Eu.ro- : pean buyera. who ship the produce to the respective markets. It is hoped that greater ' facilities for transport and conveyance of fruit to the port of Suva may be provided in the near fiature, and that the ; cultivation of fruit will increase considcr- ■ ably," ■, Bvory country tas iti own methods ot oodibotuifi find osmslltog itetistto, <md,,

although Australia is voluminous in her records, she docs not publish corresponding information to the following :—lu the United States In 1910 there were 3,948.732 farms, of which 1,3E7,439 were mortgaged, and 2,621,293 wore free from mortgage. Tho valuation of the farms mortgaged was over £1,300;Q00,000, while the mortgages thexcon amounted to £355,000,000, or 27.3 per cent. Twenty years previously the proportion of tho mortgages to total valuation was 35.5 per cent., and tho reduced proportion is due, not to a reduction in the mortgages, but to tho greatly increased value of the farms. Returns of this description are certainly of value. OiMlome duties collected at the port of Wellington yesterday amounted to £3102 Bs. 4d. 'HIDE AND SKIN REPORT. Messrs. Dalgety a.ud Co. report:—At our monthly sale at Palmcrston yesterday wo offered a large catalogue to a full attendance of buyeris. , Competition was again keen, and sheepskins advanced from Su. to |d. per lb. on last sale's rates. Hides also advanced id. to 3d. per lb. More especially was the demand kesn for cowhides, which realised tho record price for thin market, viz., Bild. for good lines. Wool: Gro'=«hred. medium to coarea, Bid., 83d.. 9d. to 9Jd.; lambs, B}d.; dead (good), Bid. to 83d., and 9d.; medium, 7Jd. to Bd.; crulchings, 5Jd. to 6d.; pieces. 5Jd. to 6d.; locks and pieces, 4d. to tyA.\ inferior locks, 3d. to 3id.; black, 6d. to 6Jd. Sheepskins: Cressbred, full-wool, coarse, 7Jd.. 73d., to Bd.; nicrtium. 6d. to Bid.; flue. BJd. to Bid.; ho?pets, 7,-ld. to 75(1.; half-wool, 61d. ■to 63d.; shorta and quarter-wool, 5Jd. to 6d.; dead, SM. to 65d.:, merinos, 6Jd.; pelts, 2Jd. to 5d.; butchers' green and salted crossbred, at each: Heavy lines. 9s. 3d. to 10s. 7d. medium, 7s. 6d. to es.; light. ss. 4d. to &s. Bd.; pelts. Is. 9ri\, 25., to 2s. M.; salted lambs, Is. 10(1. to 2s. 3d. Hides: Ox. medium to heavy, 83d.; light, B>id. to BJd.; steers, Hid. to BJd.; cow hides, best linos, BJtl. to BJd.; inferior and.rough, 7Jd. to 81d.; bulls, 6£d. to 63d.; yearlings, BJd. to 9 n d.; cut and slippy., from s*d. to Hi.; cows and ox. cut and slinoy, 7}d. to 7Jd.; horsehidos, 3s.'9d. to 7s. 6rt. each. Sundries: Calfskins, best lines, 13d. to 13 3-Bd.; medium, Hid. to 185 d.; cut and Elinpy, 6Jd. to 10d.: fallow, in tin®. 245.: rough fat, 15s. owt.; rabbit skins, 9d. to lid. per lb.; horsehair, Is. Bd. to la. 9d. per lb. LONDON WOOL SALES. By Telcsraph—Press Association—Copyrfsht ' i Lonrion, December 4. There fe a good selection of merinos, and bidding is 'brisk. Crossbreds were fully maintained, and remain firm. (Bee. December 5, 10 p.m.) ' .i '• London, December 5. The fleece portion of the MontaUo clip averaged 128 d.. at the wool sales, tho top price being 13jd. Messrs. Dalgoty.'and Co., Ltd., have been ndvired bv cable from their London office, dated December 3, as follows:—"Wool sales continue fairiv animated, bv.t lately reported rates are hardly maintained, more especially heavy, earthy, and greasy wools." AUSTRALIAN WOOL SALES. By Telegraph—Press Ansoc'.ution—Copyright (Bee.' December 5, 10 p.m.) Sydney, December 5. At the closing wool sales oi the week today the market was very firm for all wellgrown shaft:' wools. . Crossbreds received increased attention. The extreme rates for greasy reached 18jd„ a record season,- and only a penny below the Australian record of 1899. '... ', ' ~ ' ■ . WHEAT. (Bee. December 5, 10 p..m) London, December 5. •■Wheat is duU and prices are easier. Australian, January-February shipment, is quoted at 365. 4Jd.;' ■March-April, 365. lid. •Sydney, December 5. Prompt delivery wheat has declined a penny.' Sales are quoted at 3s. Bd. Molbburne, December 5. : The Government Statist estimates the wheat yield at 23,144,500 bushels. The New Zealand Loan and Mercantile Agency Co.. Ltd., and Reduced, have received the following cablegram from their London house, under date December 4:—We quote, 3fs: 6d., c.i.f., Australian cargo. -The maifket is very dull, and there is very .little demand, owing to favourable crop reports/ Market prospects are likely to decline. We quote, per quarter, c.i;i.. New Zealand long-berried 355., short-berried 345. 6d. AUSTRALIAN PRODUCE MARKETS.. . By Telegraph—Press Association—Copyright ..,..' . • (Roc. December 5, 9.15 p.m.) ■ ' Sydney, December 5. ' Old wheat is off tho market; new, 3s. Bd. Flour, £9 10s. Bran, £6 10s. Pollard, £7. Oats—©.notations for Algerians are' nom- ■ inal. New Zealand .Whites, ss. 5d.: Giants, 3s. 6d. Moise, 4s. 3d. to 45.-6 d. Potatoes— : Quotations, for the local article and New ' Zealand-grown are 'nominal; West Australian, £15. Onion?, local, £6 to £6 10s.; Victorian, £7. Butter, selected brands, 1045.; prime, lCOs! Cheese, 73d. Bacon,-7Jd. to Bd. Adelaide December-5. '■. Whpat, old. 35., 10d:; new, 3s. sd. to 3s. 6d. Flour, £9 10s.' Bran and pollard, Is. 2Jd. Barley, 2s. 3d. to 2g. 6d.; Cape, 3s. 6d. to ?s. 9d. .-.,...'... MELBOCENE HIDES .MARKET. ' (Rec.. December 5, 9.15 p.m.) lilolbburne, December 5. Hidas were in small supplies at' to-day's ' sales. Prices were very firm. , ' ' TALLOW SALES. Londori, December' 4. At the tallow sales 828 casks wens offered , and 766 sold. Priced realised-.—Mutton, fine .tfa. 3d., medium.34s. 6d.; beef, fine 385., medium 33Si 6d. SILVER. , London, December 4. Bar silver iB quoted at 29 7-16 d. per ounce standard. .' NORTH BRITISH INSURANCE. (Rec. December 5, 11.30 p.m.) London, December 5. The report of the North British Insurance Company, states that the profit for the year on the company's Australasian busine'ss was £945. The amount has been carried forward.