COMMERCIAL ITEMS.

Dominion, Volume 6, Issue 1628, 20 December 1912, Page 8

COMMERCIAL ITEMS.

;' '■■■'■ '"' INVESTMENT SHAKES. . The sales .recorded yesterday- were Wellington Gas (new' issue) at £14 12s. 6d.; Kaiapoi" Woollen at £5 45.; and Wellington Woollen (preference) at £2 17s. 3d. The quotations were. as' under :— • : :' :. .. --:.■. '■."; '. .. Buyers.- Sellers. : ■ ■■: ■ '• £.9. d.:. jb-'s. d ■Equitable Building :..... . — 9 15 0 N.Z. Loan and 'Mercan- .-....: -:. : tile (305.) ..-. 1-9 0 111 0 XZ. and River Plate ... .2 10,. .-. -' AVell. Truet and' Loan ... • '— ■ 7 10 0 Christchurch Gas (£5) ... 8 0 0. .8 5 0 Feilding Gas' — 10 6 Napier Gas' (£10) .'.........; -'.' 22 0 0 Napier Gas (£5) - 11 0 0 l'almerston'N. Gas ..'...'.... 815 0 ■•—■■■ Well. Gas (new) - . ..14 12 6 Well. Gas (pre'f.) .;. • -■ -.:■ ■M : 0 3 .National Insurance 2 10 — S.B. Insurance.. ..—. 3 14 0 Standard Insurance .....;' —... 112 3 Meat- Export (£4) - 5 0 0 Meat Export (525..6 d.),...'. 2.17 6 2 18 6 N.Z. Shipping 11 0 0 — ■ Kaiapoi Woollen ....::......, — 55 0 Well. Woollen .(ord.) .: 3 15 0 - Leyland-O'Brien 16 9 17 6 Taringamutu Totara 2 4 6 . .• 2 5 6 Goldan ' Bay Cement; .:.... - 10 9 Sharland's ordinary ..— ... 1 10 EASTERN EXTENSION. AI)&TRALASIA, AND CHINA TELEGRAPH CO. Improved results are Ehown by the Eastern Extension Australasia, and China Telegraph Co., Ltd.,- for the six-months ended ■June 30. Gross: receipts were £367,785, as compared with £329,709 in the corresponding term in 1911.- The working expenses, including £28,452 for maintenance of cables, absorb £166,233, against £151,618, leaving an available balance of £201,552 as net-revenue. Income tax payable in England.takes £3649, and interest on debenture stock requires £15,C<!8. On thw occasion there'are. no. ex-, trnordinary allocations such as bonuses to staff, fio that the net profit lor the half yea^r-i5.£182,855, and the/balance at credit 'of profit and los 3is £206,684. Two quarterly dividends, of 1} per cent, each have been paid, absorbing -£75,000, and a similar sum lias boon placed to general reserve, as compared with ££0,000 twelve months ago, leaving £56,684 to be carried forward. The return, to shareholders is at the usual rate of 5 percent, per annum, but the undivided Tirolits carried to the new account are £4986 larger than in June last year. SOUTH AFRICA'S TRADE. The chairman of the meeting of tho Standard Bank of South Africa, Limited, held in London on October 22, Sir Walter J?; Hely-Hutahiii£on, stated that the trade statistics of South Africa were very encouraging, and' for»ths year ended June 20 last the ilgurea were higher than ever before. Exports during that period were nearly; 62 millions, •'■havinff increased by six millions; while imports increased by 1} millions, arid' amounted to £36,700,000. The total trade for 1911-12 was thus 98J millions, against 91J millions in the previous twelve months. Apart from the increase in the exports of gold and diamonds, 'one of the -most noticeable features hag been the decreases',/ amounting to about £461,000 in the six .months ended June 30 last, "in the imports of articles of food and drink, accompanied by an increase during the arac period of £871.000 in the exports of pastoral. and agricultural products. Irrigation in Soufli Africa is extending, stock diseases and their . treatment aro hotter understood, and produce is improving in character. The bank has declared a dividend and bonus at the rate of 13 per cent, per annum.

'. . WHY LEATHER HAS HISEJf. ■ The. best method of obtaining a graphic picture of the extraordinary rise in the price of hides of recent years is to place the figures for particular years side by side. Thift has been done by the "Australian Leather Trades Review," and improving the comparisons by putting the values of the raw material of leather in tabular form, the reader is enabled to understand why boots have either increased in price of decreased in quality. The prices of the hides mentioned in the different countries hi the years stated wore:— - England. 1896. 1912. per lb. nor lb. 3id.to4d. 7id.to7Bd. Heavy cows' hide... 31d. 7d. ; 3 5 cr.to5d. 9d. to 101 d. ! United States. 1896. 1912. por lb. per lb. neavy nativo steers 43d. 9Jd. to 10d. Texas steers 4*d. 83d. Ooloradoß ' 33d. 83d. Light native cowe 4jd. 63d. Australia.. 1904. 1912.' per lb. per 111. Queensland heavies 6d. BJ<l. Medium-weights ... s|d. to 53d. 73d. to 83d. lightweights ... 4Jd. to sd. 7Sd. to BJd. In the case of Australian hides, the limits of weight have been reduced, which I makes the difference Flijrhtly greater than tho figures indicate. Thus in 1904 Queensland l'caviea wcro 601b.' and upwards, in 1Q19.-Ili.ev wcro 6611). and upwards. Mediumweirhts in 1904 were 451b. to 541b., in 1912 were 441b. to S2lb. The rieo has boen very eharp in-the present year, and with a world's population whici increasingly usaa leatilior, wMIe inorcaee of cattle doea

.not tako place in.the same ratio, tlioni Ip •little hope for any material relief in Iho near future.

THE SnOHTAGE IN IHDKS. ■ The "Australian Trades Review" recently referred to the shortage in hides, which ig Berioue in Now Zealand. "It iu reponed on very good authority," stated tlui "Heview," "that an order Iras been rccoivi'il from a Canadian source for 40.0C0 lildeM Hoforo Ohristinas. Those can be bought' nt iv price, and it .is paid that, four brolsei'tf are at liberty to purchase. The primary purchaser is bound to be protected \vlill.~t orders like ttao at n. reserve ii.ro available. Local buyers for local ronulroniunle arc desirous of not giving a look-In to outsiders, especially when they limnv l-li:it. in very many eases the raw prodnot loaves the shorcis only to,bo .returned as a lliiimied article to compote against Uieiitselve:!. On the prevent basw of prices it Is «ml that, the cost, of calfskins in tJic hfljr i.s lusher thar. the price at which they ran :be sold after all labour Ikih been put into then], Quite apart from Wio cost of the latter. Local buyers are reported to ho more particular when buying from Ukmp own people- than when -thoy Monro tliclr supplies on indsnte- from abroad.

AUSTRALIAN PfiODUCE StAB-KKTS. . Tho following report on tho Australian | produce markets la supplied by Jlcf«r». John Hog.in and Co., of Newcastle, undor date of IJcceraber 13:— ■ Ohaff.-So far as chaff is concerned, wo will sot require to draw supplim from New Zealand during the fortheomms. y-unr. !The crops in South Australia and Victoria, are considerably bslow normal, but the. say, 5U.01X) tons estimated shortugo In tho two State mentioned will bo amply compensated for by the magnificent mid abundant crop of Tasmania, aud fuiiJior, Unit. Western Australia hus a record crop thin year,' which is now reachir.K the eastern markets In eueh a prinic-Qiiahty condition that it Is establishing a quality standard hitheii:o unknown to our morchauts and consumers. The latcno-s of tlw raine in our own State, New South Wales w«re responsible also for very large wheat areas being diverted to cliaffcutt-eri!. PoUtooM. -The , , Victorian crops are about <miial in aroa aad output to last year. The Tafi-manian-crops arc again magnificent; about last year's area is under crop, and owing to exceptional seasonal conditions, extra results nit antii.ipa.tort. Now South Wales crops are at the moment practically nil. It is too early to aji Uelpat» tJi* urange and JUllthorpe croiis. Oayra district potatoes will'bo entirely absorbed by Queensland, f.o that as the 1913 position will (from, what can bo soon at Uic moment) bo a repetition of 1912. It is fairly sale to assume that in Juno, July, August, September, and October, we shall be again oporatinc heavily with New Zealand. Oats.—Previous advices, to New Ztalandi clients to sell have been amply verified by the. record crop in Tasmania. The ivhole question of 1913 onte will .be regulated by' tho Tasnionijiii area, allocated to ohaff. Large ohafllne arrangements are .being made there. Prices look brighter marketing in this manner than per medium of. threshing. To sot to bedrock advice: We have sold this early on short Keller's account, 300& Stout Whites monthly, February to June, at 2s. 6d. f.o.b. Ta=manion shipping ports. This Quality is about equal to New Zealand. B. Sparrows. ■ • . . , . ■ ,

Onions:—A crop above the average ie expected from the various Victorian districts, and we are buying to-day at £5 10s.. f.o.b. Melbourne, at which price we could export to New Zealand.

BOVRIL AUSTRALIAN ESTATES., Owing to unfavourable markets and drought ■ during 1911 the results of the ;liovril Australian Estates have not realised anticipations, and the company is not ■yet in a position to pay a dividend. Sales, according to the report just published, fell from £16,100 to £13,900, a much lower ■E-um than expected, biit owing "I" tic larger stocks ■of cattle, for which credit is taken in the :profit and Ices-account, the' net profit works out at £21,500 against £16,CC0. iWdth the amount brought in there is an •'available balance of £41/00, or £14,5C0 'more. The balance of preliminary expenses, amounting to £6300, against. £70CO, is written off,, and £35,100, or £15,200 more, cariried forward. As the profits for the year ■are largely represented by the . incr-saajd stocks of cattle,: which are valved at £224.600 against £196.300, no dividend is pc.sr.ible in respect of the past year. I{egoliations with the Government of Western Australia, for. the erection of r< meat factory are still in' progress, and further action by the directors on this important point has'been deferred until the decision of the Government is known.

WOOL. Wool is coming in very freely for the nsxt Wellington wool sale, to be held on January 8, and" fully double the quantity if not more than was offered at the last January sale is expected to be catalogued. The exports of wool for the fitot live months of the current , season compared with the. figures for the corresponding period of last season, as.compiled by Dalgety and Co., Ltd., 6how as under:— . .' .-.-■.. 1912. - 1911. ■ '-.' Bales. Bales. ' Victoria- '■ 187,816 208:573 : N.S. Wales 371,604 <04,523 ' Queensland ' 125,881 144,701 ' S: Australia 1C8.590 115,637 . W. Australia 35.C61 33,667 •Australian 828,952 907.041 . New Zealand ... 65,869 70,487 ~.894,821 977,528 There is a decrease of 82,707 bales, West Australia'being the only State .to show an increase. Nov. , Zealand's figures show a (decrease of 4618 bales. Omstoms duties collected at the port of Wellington yesterday amounted' to £2CC6 :2s. 7d.. ~ .. . . WHEAT. By Telezrsph—Press Association—Copyright '~ ■• (Rec. December 19, 10.30 p.m.) London, December 19. The wheat maTkct is firm. There is a better demand. The Australian new crop, three .cargoes, sold at 365. 9d., 375., 375. 3d. . TALLOW SALES. London, December 18. At the tallow sales, 1040 casks were offered and 701 sold. , Prices .were unchanged. .'■". THE SILVER MARKET. : (Eec. December 19, 7 p.m.) - London, December 19. Bar silver is quoted at 29 3-16 d. per ounce standard. ■ ' : " AUSTRALIAN PRODTJOE MARKETS. (Rcc. December 19, 10 p.m.) . Sydney, December 19. ■ Wheat, 3s. s}d. to 3s. 6d. Flour, £9 10s. Bran, £6 10s. Pollard'. £7. Oats:. Tasmanian Spa-rrowbills, Jβ. 4d. to 3s. 5d.; New Zealand Giants, 3e. sd. Maize, te. sd. to <'h. 6d. Potatoes: Local. £7; Wostralian, £9; Tasmanian, ,£9 to £9 10s. Oaions: Local, £7 to £7 10s. Butter: Selected brands, 10te.; iprime Qiiajity, 9£s. to IOCe. Chcess. 7id. Bacon, 7.Vd. to Bd. fldoia)dO) DKomhor i 9. Wheat (new), 35. : 6d Flour, £9 ss. Bran and pollard, Is. 2d. ■■ .