COMMERCIAL ITEMS.

Dominion, Volume 6, Issue 1618, 9 December 1912, Page 10

COMMERCIAL ITEMS.

INVESTMENT SHARES. No business was done in investment shares on Saturday. The quotations recorded at the call wore as under:— Buyers. Boilers. £s.d. £s.rt. Bank New Zealand ....11 0 0' — Equitable Building - 916 0 N.Z. and Eiver Plato 2 10 — Feilding Gas —' 10 3 S.B. Insurance — 314 0 Union Steam 2 7 3 ' — Meat Export (525. 6d.) ... 217 6 218 6 N.Z. Shipping : 14.0 0 - Well. Woollen (prof.) 2 17 0 - Hikuraugi Coal 0 18 6 — Taupiri Coal 12 6 13 0 Lcyland-O'Brien 16 9 17 3 ' Tarrngamutu Totara 2 6 0 — Golden Bay Cement 10 3 110 N.Z. Oon. Dental 10 6 — N.Z. Drug - 210 0 Sharlamd's ordinary — 110 Ward and Co 5 10 6 2 6 • LONDON MONET MARKET. Money was' slightly easier in London last week, that is to say, rates for short loans and three months' bills were slightly lower than in the previous' week. During the week the withdrawal of 'gold from the Bank 'of England amounted to £1,215.000 Public deposits decreased by £1,304,000, and "other deposits" by £1,213,000, totalling together £2,517,000. The circulation increased by £291,000, and the reserve decreased by £762,CC0... The proportion of reserve to liabilities was only slightly lower. The Bank of England appears to • have the money market-well under control, and if the peace negotiations result favourably bank rate is certain to be reduced early in the New Year.

THE ADMIRALTY AND OIL FUEL. • The Oommdßsion appointed to investigate tho suitability of odl engines for warships has .been bUßily encased in obtaining experts' views on the subject. The Admiralty at the same time is rapidly proceeding with its tests of odl fuel. The Government reoently placed orders with four of the principal Scottish mineral oil companies for some 200,000 ton* of oil fuel. Tho price paid was approximately 2Jd. per gallon. Further important developments are, wo understand! proceeding with several of the Scottish oomponias for. the storage of oil for the Admiralty. Tenders were also taken for an oil tanker of 9000 tons dead-weight and 430 ft. in length, to bo fitted with twostroke Diesel engines, while it is reported this week that tho Government has ordered another oil-tank vessel with internal combination engines. The ship is to be 460 ft. long, to oa.rry BCOO tons, and the engines are to be 2500-h.p., of tho four-oycle crossheod type. Thero will be eight cylinders on each Set of engines. Tho order for: this ship and machinery has gone to Messrs. Tickers. Tho Admiralty had previously ordered two small sets of machinery for vessels building at tho dockyards, and arranged each to carry 2000 tons of oil fuel for ,the refilling of the tanks in warships at sea. These two vessels are being built respectively in the Portsmouth and Devonport Dockyards, and the engines for one are to bo constructed by Messrs. Tickers imd for the other by Jfossrs. J. Samuel White and Co., of Cowes. In the latter instance the machinery will consist of two sets of six-oylinder engines of the Numbers design, normally of 1500 b.h.p., and to develop, when necessary, 18C0 b.h.p., at 210 revolutions. The Tickers engine, it is understood, is their own dosisn, of tho four-oycle crosfhead- type, having 'lent cylinders in each set. Tho speed in this case is to be 150 revolutions, and it ia anticipated that in both ships the oil consumption will bo 51b, per brake horsepower per hottr. In one ante the auxiliary £KSfca ttUI bo owraAsd S>;r Bbaa bkms&Jl

ated in two auxiliary boilers, and in the other probably by air. It is likely that before long other similar tact steamers, with different types of oil-en-gines, will bo ordered, so that before long the Admiralty will be in an advantageous position to test at sea various designs of Diesel engines propelling ships. TRUSTEE STOCKS. A white paper has been iEsued containing a return showing, in the chronological order of their issue, the colonial stocks mado available for trustee investment by the Colonial Stock Act, 1903. In tho selfgoverning Dominions the following figures show the total amount of stock outstanding on May 1, 1912 :-Canada, £43,942,285: Commonwealth of Australia, New South Wales, £63,762,500; Victoria, £37,177 227Queensland, £29,588,247; South Australia' £17,375,160; Western Australia, £20.314.853Tasmania, £5,606,500; New Zealand, £56,015,214; Union of South Africa: Oape Province, £38,782,497; Natal Province, £19,286.643Transvaal Province, £40,000,000; Newfoundland, £1,190,500. Colonies not possessing responsible Government, Barbados. £375,000; British Guiana, £444,500; British Honduras, £81,600; Ceylon, £5,426,100; Gold Coast, £2,128.000; Grenada, £123,670; HonkKong, £1.485.732; Jamaica, £2,754,648; Mauritius, £1.232,390; St. Lucia, £85,479; Sierra, Leone, £725,101; Southern Nigeria, £4,044,665Straits Settlements, £6,913,352; and Trinidad, . £1,022,592. Tho grand totals of stook outstanding wcro for self-governing Dominions, on the commencement, of the Colonial Stock Act. 1900. £237,749.793; on January 1. 1906. £293,550,383; on January 1. 1911, £337,031,858: on May 1, 1912, £334,231,346. The Grown Colonies, etc.. on the commencement of the Colonial Stock Act. 1900. £8.455,891; on January 1. 1906. £13.998,329 Bs. 7d.; on January 1. 1911. £25,946,295; and on May 1, 1912, £26.842.832. HEMP AND TOW GRADED. The Department of Agriculture, Industries and Commerce reportß aB follows on hemp and tow graded at New Zealand ports during November:— Hemp.—The total number of baJeß graded was 10,672, as compared with 8666 for the corresponding month of last ye'ar, this beins an increase of 2006 bales. For the twelve months ending November 30, 1912, the number of bales graded was 95,047. as compared with 92,586 for the previous twelve months, the increase being 2461 bales. Tow.—During the month 4045- bales were dealt with, as compared with 2228 for the corresponding month of last year, an increase of 1817 bates. For tho twelve months ending November 30, 1912, the number of bales graded was 28,665, as compared with 26,917 for the previous twelve months, the increase being 1748 bales. Return of Hemp and Tow Graded throughout the Dominion for the 'Month of Ootober, 1912. Hemp Figures. •3 fl -a *II . • t t I'A I - « 3 o .aocjo yoo P< PkOPhU 808 Auckland — 656 1,151 304 1 56 2,168 Napier — 140 17 — — — 157 Foxton — 602 2.605 105 —. — 3,312 WelTton 35 1,375 2,051- 217 8 - 3,657 Blenheim 63 104 7 — — — 174 Picton 83 - 131 32 - - 246 Lyttelton — — — ——— — Dunedin — 58 98 — — — 154 Bluff — 167 563 44 — - 774 Total ' ~82 3,100 6.623 702 9 66 10,672 Percentages of Totals 1.70 29.05 62.06 6.58 .08 .53 - Tow Figures. let 2nd 3rd •grade, grade, grade. Cond. Tl. Auckland - 360 558 160 1,024 Napier - 20 - - 20 Foxton 126 694 6 - 826 Wellington ... 306 1,013 231 50 1.6C0 Blenheim 17 14 — — 31 Picton 32 44 66 - .142 Lyttelton ______ Dunedin ■ - 17 2 - 19 Bluff - 189 187 7 383 Total 481 2,351 1,050 | 163 4,045 Stripper Slips. Passed for export. Condemned. Total. Auckland 31 — 31 Napier 15 - ,15 Foxton 192 14 "' 206 Wellington ... 228 32 260 Blenheim ... 8 - ,8 Bluff 77 28 .105 Total 551 74 625 PRODUOE EXPORT. . The values of the principal products exported during last month, compared with the figures for November of last year, snow as under—: s Nov., 1912. Nov., 1911. ' £ £ Butter 266.6/6 9<W* Cheese 132,123 154,165 Beef J3B 785 ■ i Mutton— ' Carcasses '.. 31,965 • 28,480 "■ Legs and pieces ... .45 273 Lamb L 2.673 4.317 Wheat 4.089 6,795 Oats 47,146 592 Potatoes 17,914 371 Hemp 34,874 13.V7 Rabbits ".7f« ■ 18.231 Tow 2,815 1,187 Kauri gum 33,276 18.491 Grain and pulse ... 12,Z/>3 3,2 M ' Hops 12 P9B Hides 22.646 .11.856 Skins C5.9W 40.70.1 Tallow ; ;... 22,047 15,853 Timber 30.741 44,052 WoH 312.161 388,192 Gold : , 105,659 142,512 1,148,094 1,146,503 . , CUSTOMS. The Customs duties ciSlected at the port of Wellington on Saturday totalled £543 14s. 6d., tho amount- for tho week being £23,217 Us. 3d. Tho returns for each of the past eight weeks, compared with the figures for tho corresponding period of last year show as under:— l 1912/ \ 1911. October 19 8,748 9.340 October 26 23,997 21,738 November 2 22,188 27,552 November 9 11,324 15,689 November 16 17,954; 21,392 November 23 .; 11,083 10,176 - November 30 ....: 10,008 20,482 December 7 23,217 9,870 J28.519 13MM The beer duty collooted for the'week totalled £1347 13s. 5d., as compared with £400 189. for the corresponding week of last year. FEILDING MARKET REPORT. Messrs. A. H. Atkinson and Co., Ltd., of Feilding, report:—On Friday we Bold a large penning of poultry at full rates. There was keen demand for pigs of all sizes, and prices were in excess of anything lately ruling. For weaners and good stores there is unsatisfied demand. Weaner pigs, 15s. 6d., 16s. to 17s. 6d.; stores,, 305., 31s. 6d., 335. 6d. to 405.; empty sow, 19s. 6d.; P.B. boars, 425. Poultry, at per pair: Old hens, 35., 3s. 3d., 3s. 6d.; better sorts, 4s. 3d., 4s. 6d.; eookerels, 35., 45., 4s. 3d.; roosters, 4s. to 65.; ducks, 55., ss. 6d., ss. 9d. to 6s 3d.; hen and chicks, Bs.; ducklings, Is. 9d.; chicks, Is. 9d. Produce: Pollard, lis.-6d.; bran, 4s, 6d.; wheat, 4s. 3d.; ryegrass seed, 45.; bacon, 6d. per lb.; factory do., IOJd.; hams, 10d.; peas, 2s.- 6d. per bushel; Auoklond apricots, Bs. per case.

ANOTHER PETROLEUM CO. (By Telegraph;— Press Association.) Now Plymouth, December 7. A new company called the Taranaki Oil Lands Acquisition and Development Company, with a capital of £50,000, has been successfully floated by Mr. E. Griffiths. There are 25,000 one pound shares to be allotted now, .20,000 of which have already been applied for, chiefly by Blenheim people. The Srovisi'onal directors are:—Messrs. K. P. oulter, G. M'Kay, J v Bary, and B. Griffiths. Rights have been acquired' over nearly 1200 acres at Moturoa and the surrounding district. , An expert named CFederowiez is now on his way from London to take charge of the operations, and two drilling outfits'are also on the water. The ■company expects to start work at the end of January. Drillers are occompanyins tho plant from London. NORTH OTAGO MARKETS. Oamaru, December 8. Wheat has been offering more freely than for some time baok, but the demand is not keen. There is a considerable quantity of wheat in tho district, but farmers are not satisfied that the figures offered represent the true valuo of the grain. Velvet is most wanted, and better money is obtainable for this variety than for the red. Several sales of velvet have been made at 3s. Bd. net at country stations. Prime red chaff has boto sold at 3s. Bd., loss commission, on trucks, and ss. 9d. le=s commission, ex store. ; Other wheats sell at lesser figures. Very few oats ore offerinir. and the sales have been small at 2s. OJd. and 2s. Id. for A Grade Gi.rtons and Is. lljd. and 2s. for B Grade, all net at country stations. MEAT MARKET. Messrs. Gilbert Anderson and Co. (Mollsop, Elfott and Co., agents) report under date London, October 25:—Shorter supplies of Irish and Scotch have caused a firming up tendency in Home-grown mutton and lamb, and has also had a good effect on frozen mutton. Home-grown: Beef (Scotch) 7d., VJd.; English, 5d., 52d.; Irish, 43d. m Mutton: English and Scotch. sld 73d -' Irish, 5d., 6id.; Dutch, SJd., 6Jd.; English nnd Scotch tegs, 6d.. Id.; ewes. 4d dirt Lamb: English and Scotch, fid., b,i ."Trial,' 54d.. 60d.; Dutch, 5>,d.. 6?d. Pork 7*d Prf Veal, 7}d.. Bid. Chilled beef: Fores 23d •' hinds, «d.: supplies plentiful and demand poor. Frozen beef: A depressed market °. wlns %. I,a g? "applies of Australian In store, The biff Quantities of Irish sides IM fcontai c»o noi heistas natters, Km^

Zealand fores, 2Jd.; liitids, 3 3-Bd.; Australian, 23d., 3ad.; Plate, 2£d., 3 3-Bd. Frozen mutton: Tho higher prices of lloine-grown havo caused a better feeling for New Zealand, and although prices aro not quotably higher, the prospects are good. Southlands and best New Zealands, 4 3-Bd.; ordinary, 4}d.; owes, 3Zd.; Australian sheep, 4d.; River Plate, 3 15-16 d. Frozen lamb: Oanterburys, 28/42 are 5f,d.; best Now Zealand, 5-16 d.; ordinary, sjd.; but sale? are few and demand poor. Nevertheless, if Homo and Continental supplies come lighter, the prospect for a rise is good. LONDON WOOL BALES; By Telecraph—Press Association-Copyright London, December 6. At tho wool sales there was gocd Continental competition for fine-haired merinos. Oroesbreda aro unchanged. (Eec. December 9, O.JO a.m.) London, De\g)iber. 8. The wool' sales have closed with wellsustained compotit-'oni ; The opening rates were fairly well maintained except averago top making. Wasty and greasies showed a slight decline. G.ood scoureds remained at October rates, aid faulty scoureds advanced ten per cent. Orossbreda showed a Bimilar advance. Scoureds; slips, sto 71 per cent, higher. Messrs. Abraham and Williams, Ltd., have received the following; cablegram from London, under date December 6:—The rales have closed with competition still keen. During the sales tho attendance has been large, with Americans operating freely. The market is very firm for all classes, and prospects, are very bright. Gompa.red> with the closing rates of last scries, fine crossbred and merino is 5 per cent, up, medium and coarer breeds from 7J per cent, to 10 per cent. up. LONDON MARKETS. By Telegraph—Press Association—Copyright (Eec. December 8, 5.5 p.m.) London, December 7. Wheat—Tho market is Bteady; 375. per quarter is asked for Australian, JanuaryFebruary shipment; 365. 6d. has been paid for a parcel afloat. Kauri Gum.—The stock amounts to 187 oases. N.Z. Hemp.—For fair, January-March shipment, the current quotation is £32 per ton. Copra—The market is firm. South Sea, bagged, is ruling at £25 15s. per ton. Eubber.—Fine hard Para rubber is quoted at 4s. 7d. per lb. Quick silver rules at 148s. fid. per bottle. Tin-plates. 1.0. coke, 15s. 6d.; 1.0., charcoal 16s. 6d. Galvanised fencing wire is quoted at 1675. 6d. Messrs. Dalgety and Co., Ltd., Wellington, have been advised from their London office by cablegram, under date of December 5, as follows:—Frozen meat: Marltct quiet. Mutton: Prices are from par to Jd. higher. Lamb: Poor demand, prices unchanged. Beef: Poor demand, holders are firm at last quotations. Tallow: For good beef and mutton, since our last cablegram prices are unchanged. For good coloured mixed or beef prices are 3d. per cwt. higher, other descriptions 6d. per cwt. higher.