COMMERCIAL ITEMS.

Dominion, Volume 6, Issue 1644, 10 January 1913, Page 8

COMMERCIAL ITEMS.

... INVESTMENT SHARES. There were two transactions in. invest-' ment shares yesterday, Westporf Coal shares • changed hands at 275/, and W.F.G.A. at £7 65.. .The quotations were as under:— ... , , Buyers. Sellers. £ s. d. £ a. df National Bank — 5 18 0 ' N.Z. Loan and Mercantile 0 8 3 —. Feilddng Gas ' — ,10 3 Weil. Gas (third issue)... — 14 IS 0 S3. Insurance — 3 14 0 Standard 'Insurance —' 1 12 3 C.ea,r Meat (£4) - 12 7- 6 Meat Export (£4) . — 6 0 0 Meat Export (52a. 6d.) — 2 18 0 N.K. Shipping 14 0 0 . ITnlon Steam 2 5.9 —. Kaiapoi. Woollon — 5 5 0 Weil. Woollen (pref.) 2 16 9 - lilkurangl Coal 018 0 — Golden Bay Cement — 110 N.Z. Drue 210 '3 Sharland's ordinary — 1 11) W.F.O.A 7 0 0 MALAY TIN. . To a, very great extent tho prosperity of the Federated Malay States is due to the tin mining industry of the country, hut the royalty in this connection should not be regarded ns revenue proper. It is obviously part of the capital of tlic country which is reserved for futnire use, and when attention is drawn to the largo balances possessed l>y tho Federated Malay States, this fact, ehonld be home in mind. The Government Is. however, stated to. be t'on"idcrin? the ourstion of granting a reduction of the royalty on tin ores:which are difficult to win or treat, the idea being to benefit lodo mining and low grado propositions which can bo, worked with,

pensive machinery. It is interesting to note that the estimated value of tin extractod from the Federated Malay States during tho last twenty-three yearß is £111,000,000, whilst the total value of the exports during the yoar under review was, r roughly, £1;813,7C0, the quantity being [ placed at 44,149 -tonp. The process of ex- . traction, however, causes considerable injury to the land from ail agricultural! standpoint, and vast areas are stated to ho ruined, as far as farming is concerned, for some time to come, whilst in some ] . instances the damage caused is irreparable. | TRADE OF ADKIANOPLE. !■ The British Foreign Ofllco has published > a Consular report on the trade and commerce of the Yilayct of Adrianople, which is of interest at tho present time., Tho trade of the Vilayet showed a substantial advance during 1911, the valuo' of cxnortH 1 rising; from £1)56,215 in 1910 to £1,668,784 dn 1911. The district, is mainly agricultural, and the improvement- is explained by a goad harvest, tho best, it Is stated, for six years. The chief export figures for the year were:—Grain, £479,690, arid tobacco, £707,436; . No other , export reached the value of £100,000, but the chief wore cheese, cocoons, silk, wool, hides, and skins. Im- ■ ports from the United Kingdom increased in 1911, but are f-till leas than those fifom Germany, while both oountries aro behind Bulgaria, and Austria-Hungary. • THE WOOL MAKKET. •" At the eales at Napier laet week, Wellington this week, and Ohristchurch on Monday, • the aggregate quantity of wool offering i'will' approximate to 76,000 balee. As most of the earlier sales held. at the different centres' have shown increased' offerings there is every probability that for the current season. thero will bo a substantial increase 'in the quantities offered. The offerings in past seasons'throughout New Zealand were, according to, Dalgety and, Co.'s .flgUTes,'as under:— . . .. V. ■ , Offered ■ Export, locally. , .Season..' ■Bales. ■ Bales.. . 1911-12 ' ............ 493,368 -.' 226,432 1910-11 493,372.' ' 222,612 ■■ 1909-10 572,938 ■ 265,184'" 1908-9' : - '491.757 207,989 - ". 1907-8 : 436,941 132,349. , The salca have been, growing, and the tendency is for farmers to take advantage of; the local market. , '. x , . ' SEASON* FOE HIGH FREIGHTS. ■'*'■' In additioil to stating reasons for a continuance of high freights' for. some'time, the '-'Statist" gives its view of ,tho causeswhich originated high freights. -The . condition of the freight' market is the result of increased trade .throughout tho world, and is not dbe. to any. artificial causes'like war or strikes. ■' The comparative scarcity' of tonnage is due partly;to natural causes and partly to tho effects of artificial incidents—that is to jEay, t^e v shortage in the addition to the world's supply of floating tonnage as the requirement for shipping increased. The present supply of new ' tonnage is less , than it'. would have. been ,in former times—first, because of delays, in building caiiEed by < tho shipyards - strike of 1910-11; ' second, the■ colli strike of 1912; third, by the inability of steel-makers to deliver building material quickly enough; fourth, and perhaps more largely, by the shortage of skilled shipyard "labour. Ail; these points have been, explained and dwelt on already, but they do not cover everything, (the ''Statist" points out). There is a tremendous activity in the shipyards, but. the prc-cess ;of delivery.- from them is abnormally' slow. And the process of depletion" of ■ floating tonnaso "two years ago by breaking'up obsolescent vessels was ab-normally-'large, 'along with natural wastage. 1 That .is to "say; thero are, gapa--to' be filled as well' aa additions to, be made and tho rate of provision is retarded. That is one view of the case as to the-future; but there'is another.- It has become more and mbre.the hahit. to build vessels specifically for special' trades; which cannot-bo employed m uny other trado.. Everyone, can rcah'.-e that tho Olympic, for instance, cannot find occupation for her size and speed and 'general luxury elsewhere than oil-the Atlantic.- This is an extreme instance, of course, but among cargo vessels there, are'now so -many specialities, that it is misleading to attempt l to form from 'a.return of thct-ormageof vessels building the probable addition to tfc* general ton T nage of the'world. According to Lloyd's last, list tho tonnage - under construction at present; is ..the largest total on - record,* but that does not mean'.that tho largest'number of ordinary merchant- steamers aro preparing for.tho general carrying trade : of- tile,-world.' A-very large proportion of ; the tonnage under: construction, iboth'in England- and America., and on the Continent, is; in the form of oil-tank and oilcarrying steamers.',' Thero has beon: a comparative dearth of 6uch tonnage. 1 - It is being very- extensively lncreasert, and two things are to' be'iioted of it. Thiia cIaES of vessel takes ■a 1 considerably longer time to build: than >n ordinary tramp—hence the ..delays in,the-tonnage put into the water, And this oil-'tonuapre, howovor much' want-" od for j tho ; particular'trade; ia of'no ueo whatever in-any other trade. And there are other 6pecial'.trado 'steamert. budding, though not so clearly marked as the oil' steamers, v This; means that the additions ■to tho fleets of general cargo .carriers aro not being prepared 60 largely as the gross statistics may-suggest. 1 WOOL AND 'HIDE SALE. Messrs*.. Williams.-and' Kettle; -Limited, Danncvirke, report on their wool, skin, and hide sale, held on January 7, aa follows:— Before a fair : attendance ..of buyers wosubmitted 63 bales of wool, 100 bags wool, 1850. sheepskins, 200 i hides, and 250 calfskins.We. effected a clearance of all lines offered at, satisfactory: pricra to vendors :-Wool; Crossbrtd, coarse, 73d. to 93d:; crossbred, ' dead, 7id. to "Sd.; crossbred, black, -Cl-d.' to, 74d.: bellies and. pieces, 6d. to 7Jd.; locks, 3d. to sd. Sheepskins: Medium crossbred,- ' 81d.; coarse crossbred, Bd.;- crossbred dcad,53d, to 6{d:;' black, 5d.; lambs,.7d.: crcss-' bred ■ inferior." 6Jd.';. dry! pelts;,ls: 7d.; salt-' ed pelts, J&i.'no 2s; 6d. ; salted lambi,\2s.'7d: to :3s. ' Hides: Ox. Sd.; cows; 61d.'to\ 7Jd •' yearlings, 7d:; ■ weanero, 7id.;' bulls," 6d.-;' dry hides. 3d. to 6Jd.; hid-ss,"cut 'and slippy, 51d. to . 53d. ! Oalfskinß: Sound, lid;; cut,' -7Jd.;, slippy, 6d.: dry, 9i. each. Tallow, in tins,'.' 10s. to'23s.; rough fat.' 13«. 9d.Horsohair, Is. 7d. Cowtails, is. 3d. '• ' ' " " Customs duties .collected at the port of WeUin-gtop. yesterday. amounted: to £2202 : lis. 6d. - ' ■ ;■" .' , ' i -'. 1 SYDNEY WOOL SALES. • ' Br lelcgrapli—Press •Assoolation-Oopyrieiij' V. (Rec.. January 9, 11.40 p.m.) Sydney, January 9. The.weok's wool sales have closed. • There wasistrong general- competition, excepting, in the American ' section, which . was at a standstill., , Prices, were in sellers': favour, and were equal to tho best, of the season, • . .. MELBOT7P.XF, HIDES • MARKET. , - '.'-(Koa. January. 9, .p.m!)' ; t - i Melbourne, January 9. Hides' were in good supply' at .to-day's sales, >and/there . was an' activo demand. Dry-conditioned were id.'higher, and others wero very, firm. ■ AUSTRALIAN • PRODUCE MARKETS. - • • (Hec. January 9, 10.20 p.mj : ■ Sydney, January 9. Wheat,: for prompt delivery, 3s. 7d. to 3s. 7|d.:. January-February, '3s. 6d. to. 3s. 63d.::Fiour,' £8 ,155..: Oats, Tasmanians, 3s. 7d. tO'3s. Bd,; New Zealand Giants, 3s. 9d.; "A" grade Gartons, 35.: 9d.; "B" grade Gartons, 3s. 7d. to 3s; Bd.' Maize," 4s. 7d. to 4s.' lOd. Bran, £4 I£«.. Pollard, £5. 'Potatoes, Tasmanians, £6 to £7; locals, £5.- Onions, £6.103. i- Butter, selected .brands, 100s.;seconds, 925. to 965. Cheese, 63d.'. .Bacon,' 7Jd. to Bd. ' : . . Adelaide, - January- 9. • Wheat, 3s. 6jd. Flour,- £8 12s. 6d. Bran and poll ird, Is. Id. Oats, 2e. 3d. to 2s. 4d. WHEAT. r ~ (Jlec. January 10, 0.20 ajn.) " , - London, January 9. J Wheat oargocs are'quiet. Two' Auetralian cargoes have been sold at 375: • 7Jd. The undertone of the maTket is verr ■: steady. . . '' . ■ . . TALLOW SALES: . London, January 8. At't-he tallow sales 1280 casks were offered and 596 sold.. Prices realised:—Mutton, fine'4os.-<d., medium 345. 6d.; beef, fine 38s;; "medium 335.-6 d.