COMMERCIAL ITEMS.

Dominion, Volume 6, Issue 1638, 3 January 1913, Page 8

COMMERCIAL ITEMS.

WELLINGTON WOOL SALES. . At the local wool sale, which, is to be I held in the . Concert Chamber 011 Wednesday, January .8, about 25,W0 bales of wool I will be catalogued, but this is only an estimate, tor tho brokers themsolyes do not k»jw the quantity. ■ Wool has. been pouring in, and is being stored in convenient places. • The printed catalogues will not be available for a few days, and the .oiact details of tho quantities to be offered will not bo known until then. At' tho January :.salo last' year 17,500 bales wero offered, and In 1910 the catalogues comprised • 22,700 bales.. :At next' west's pale values are expected to bo well maintained, and.some idasses.may exhibit advances.

WHEAT AND BREAD PEIOES. . >An extremely- interesting White Pa.per . lias just been published showing the current price 'of British whoat ;pcr uuarter inVEugland - arid Wales, tho highest, and lowest, import duties chaiged on imported wheat' and the current '• price of bread in . London " during .that period. .Comparing tho oxtremo years given in; tho statistic", { wo .find' that , th« . averago'.annual price , for British jivheat..in ; 1800 stood >at j£sl3s. lll.'J. porsqnarter, whilst,in 1910 it.was On3y ; '£[ '115. Bd.-, a drop ■of J34' 2s.' 2d.:.,Tlie' highest : price : shown in' the 'figures occurred in '181Z, whbn : . the'average annual- price per quarter touched £6 6s. 6d., or £4;145. ICd. ■ above.'that of 1910; , The highest weekly average price .per quarter during 1800 was '£7,-ls.' sd„ and 'the lowest £4'■ 15p.■; sd„ as. e.jaiiist'£i; 13s. 9d. (and £1, 9s.', for 1910. jWith regard to the price e£ bread in London,' this 'has,. naturally been /affected by 1 'legislation .bearing' brivtho'.'importation of foreign arid colonial'wheat, and the figures eonsnderaTJlo • irreju- ' ljirity. ' :In. 1800 .the average price, of the qiiartcrn loaf:of wheaton bread was 16.3d., advancing ih. 1801 to lu.sd„,in 1812' to 17.0 d., from'which'time it fell aivay, to an anmial average prico ,of round, about 10d., whilst since ,1899 theprice. has. kept .at an aver■ago. of -between 'sd. - and 6d. ' It is: not -;known' • how: far .these • figures . aro strictly 00mparable, as they'have "naturally been derived from.-various sources,' but the information, given provides :nn approximately accurate .-iiidication ; of : wheat -an'd bread priccs ' during': thi past ; centur.v:'X . i AUSTE/U/lAN CAPITAL'FOB" CANADA.' !At the annual ■ general; meeting of the Bcottish-Austratian.'. Investment Company, held in London in November, the. directors i/ore . congratulated by . the • shareholders , on;,\ theirj decision. to : invest ft . portion,' : of.. itheir;. . funds ill. Oanada. ;. The chairman, in' discusing the matter, stated' that;, while flnctuatings must occur -in tho' progress of the Dominion, as eboKiierc, he and 'his 1 , oolleagues were, ' "suitable ' times and, 'subjects for invcstraent" in C.innda, n.nd so far they are confident' that,the company's money . has been;, well employed. , This ,aetionv: is ■ intended •;as ,a / reply N to tho Federal land tax iriiposed by, the .Australian authorities;some time ago, .which: involved the. payment 0f;,£15,6C0 by . the ScottishAustralian Investment Company out of tho past : year's profits. ' ; ;' ' . ENGLISH BILLS OF EXCUANOB. j -.- The .univerealiiy -of fcnglish tnis of ci--''was referred to in. a lccturo reiDonfcly .delivered ■in London by Mr. A. iSloluis, who remarked that a bill broker jwas a very able man of business, and' 110. had no , doubt l that 'in a really .big house .the bill clerk ' was a ,man who' could comimand'.: a,' very comfortable ■ salary. Bills in tho Enchange were, looked-'after: with by. able .inen .1 Why iwas-'.it the English : bill ' had such a won.derful, : power' to settle the '■ bargains, of,the world between country and country? tf they naked .some :money. article writerß jthoy- would/be iold -.that.'-it ,was because' of the high, commercial morality of the . His' ant,iver' V.'ould be because of -the .universality 'of .Englich .exports, which .made it impossible to' find a port in\the world whero they could .< not find a mor;chant: who. had'not; : had : some' goods from England, and who, was not glad to get an English bill to pay for them. It was ..because English .poods, pere (,spread all over. tho. world. . Were' our • exports twice as large, but confined to one particular port,, the English: bill would lose-its power, and. losing: its power*" England, would 'no longer bo tho hub of tho uniVerso as far •as trade ;'waa.'concerned.. .They held the .power ; because they hod trade with everyone, instead of colonial preference. .

THE SUGAR; POSITION;- ; KeportiliiT on the market, Czarjn.kfov's 'weekly . circular, • dated London November . 14, >says:—"The great- stumblingblock ;is how'to -fix .prices.' : It contracts stipulate ; "subject to peace," they , cannot be. cleared, and therefore' it-is ; proposed, to soy, 'Provided Germany is not ati war during thonsxt weeks or clay>\" Contracts made sufficiently .early before 1 war ca.r.Tioi _ claim exemption,, therefore. - can be safely, cleared;.but,quotations in the.' markot : shall be f-übjeet to peace prevailing during: Dvo; more days,''and any. nervous ,or ma-nioulating buyer:or,- eellcr wouid bo constantly- met by plenty of sellers or buyers, .whoso 'contracts, are .either cancelled by: immediate: war,- -or . are profitable & the'absenco of war,,'and. if.'war, occurs •arter the ■ five- days, ; the- quotations will i all tho. same .havo gone on in the meantime';' sellers will haye continued .to offer,, and; when invoicing .back does take place,., it' is. subject to. prices . established ■on. a peaco basts. :without; disturbing' tho clearance", of contracts. TTe'- think ; this remedy against 'war l prices: is simple, and practical,. and' should attract trade' at nil time:;; especially wh<m political tension,disorganizes business,elsewhere',. For. old contracts lloiv existing-, Iho consent, of contracting '. parties '.would,' he'-inec'essary, and if if claimed that two ! 'separato:quotations would, : fot ,tho 'present, bo ' required for, 00/lling- in raarßiM. on- which point negotiations , still. continue.

: ■ ' ACCIDENT INSURANCE IN ITALY. : . According to the Italian journal "H Sole" the Italirji Government is now. proparing a schemo for ;tho establishment of a State monopoly of- workmen's accident insurance, which is also to inolude tho insurances to cover employers' liability. The Italian Government has already a monopoly,,of life ,assurance business, and, tho jltalian Industrial Oonfedoration, .consistiiif' of manufacturers and merchants, -has; decided > to strongly oppoeo the, Government scheme and to start a.n agitation against it. arguinsr that,.whereas in the case.'of .life- insurance the s 'monopoly only 'affects those who wish-- to insure,, tho accident monopoly affects everybody who by law is obliged to insure against aooidents. .English accident .ofllces . do little : or. no business ...to .speak, of in Italy, : and ' the proposed monopoly would-riot therefore interest English'.'companies,' but it is .significant . that tho Italian • Government should seek to. create' a monopoly in such an unfavourable branch of assurance buslnw as accidents.' The inference is that tho Stato iaro in a ,penurious condition;-, and that tho Government is aniioua to get pofsession of the reserves of the' various .Italian accident . assurajico companies:

:' NAPIER WOOL CATALOGUES. : . (By Telograph.—Press Association.) Naplor, January 2. The catalogues for the wool sales' to-mor-row, aggregate; 24,717}. .bales, .a, record-'for the -district, and believed to be a record for, the Dominion, the previous beat being Wellington's 23,000. . .■ - 'AUSTRALIAN PRODUCE MARKETS. By Telegraph—Press Association-Copyright ,(Eec. January 2, 10.40 p.m.) *" ■ Sydney, January 2. Market quotat'tos:— ■ -Onions, £5 to £5 15s. . Potatoes, local, £7; othars, £S to £10. Maize, • 45.-Id. to 4s. 6d. Oats, "Pasmanian Sparrowbills, 3s. 4d. to fid.; New Zealand Giants, 3s. sd.i Gartens' A Grade, 3s. 6d.; B Grade, 3e. sd. Peas, blue, prime, Bs.; grey, 6d. ', . - ■