COMMERCIAL ITEMS.

Dominion, Volume 6, Issue 1659, 28 January 1913, Page 10

COMMERCIAL ITEMS.

' INVESTMENT!SHARES. ! : National Bank shares changcd hands at £6 2s. 6d., cum rights, and this was the only transaction recorded yesterday. The quotations'wero as under:— „■ Buyers. Sellers. . £.s. d. £ s. d National Bank ' 6 2 0* — N.Z. Loan and Mercantile (10s.) 0 9 0 - N.Z. and River Plate — 2 10 Feilding Gas ; — 10 3 .N.Z.I-Insurance 416 -0* — ' Standard'lnsurance "...... — 112 3 N.Z. Shipping 14 5 0 — Union Steam 2 5 9 2 6 '9 Kaiapol Woollen (pref.)„. 5 3 0 5 6 0 Well, Woollen (ord.) 3 15 6 3 17 0 Westport Coal 'i 7 : 0 : . — N.Z. Drug -.... ; . :: 210 0 . «Oum rights. ' GOLD PRODUCTION. . Gold-mining appears to be a decaying industry -in Australasia, at all events tho production shows a steady. decrease. The returns for tho past seven years for Australia and New, Zealand compare as under:— . Australia; New Zealand. Total. Tear. . Fine oz. Fine 02; Fine oz. 1906. 3,441,056 532,922 3,973,978 1907 :. '3,180,368 476,987 3,667,355 1908' ,3,078,870 471,790 3,550,660 1909 ..' 2,944,629 484,920 3,429,649 1910. "-2,719,945 < 46,434 3,166,379 191 i: .......... 2,484,475 ' - ' 427,385 2,911,860 1912- 2,317,566 - 316,498 2,634,064 In six years'the output has decreased by 1,339,914 ounces, of which Australia accounts for 1,123,4900z. and New Zealand for 216,4240z. The figures of tho several States for the past two years compare ns under:— 1911. 1912. Fine oz. Fine oz. Victoria 503,54 1 480,131 ■ N.S. Wales 181,121 165,295 . Queensland 386,164 346,390 S. Australia ... 11,680 7,902, . Tasmania 31,101 35,197 w.-Australia ... 1,370,868 1,282,651 2,464.475 2,317,566 . Now Zealand ... .427,385 316,498 2,911,860 2,634,064 Victoria shows a decrease of 23,4100z., New .South Wales a dcorease of 15.8266z„Queensland a decrease of 39,7740z„ West Australia a decrease of 88,21707.., and New Zealand a decrease of 110,8870z.. a pnrt of the latter being due to the strike at Walhi and Reefton. The-value of the total production for 1912 may be reckoned at nearly £11,195,000, against about £12.375,C00 for 1911, and about (£13,457,000 for 1910,

THE SUPPLY OF WOOL. During 1912 there was eold at the London colonial wool 6ales G98,0C0 bales, or-10,COO bales less than In the previous year. Although tho sales were rather less last year tho supplios of wool to Europe and North America increased 24,000 bales. The supplies from Australasia were lets by 61,000 bales,' and Argentina was 3000 bales Bhort, but South Africa, with an increase of 87,000 boJes, saved the situation. Tho following is a summary of tho figures for seven years, as compiled by Jfcssrs. Helraouth, Schwartz, and Co.:—

• Axis* River tralia. Capo. Plate. Total. Year. Bales. Bales. Bales. Bales. 1906 ... 1,833,000 238,000 487,000 2,558,000 1907 ... ■ 2,103,000 287,000 478,000 -2,868,005 1908 ... 2,072,000 . 276,000 484,000 2,832,000 1909. ... 2,296.000 380.000 571,000 3.247,000 1910 ... 2,411,000 377,0C<) 461,000 3.249.0 M 1911 ... 2,524,000 . 376,000 .499,000 3,399,0K 1912 ... 2,463,000 463,000 497,000 3,423,000 One of. the features of tlio wool trade is the great expansion in the South African output." In ten years the Cape output has been doubled, and great strides have been made in the preparation of the staple for the market. Iluring the pniit four ycara tho trade has had to deal with an annual output of -considerably more than 3,0t)0,0u> bales. Notwithstanding tlie'increase of the past -few years prices to-day are very firm. Tho demand for wool has increased, and there is ilo fear of surplus production.

11IOTS AND CIVIL COMMOTIONS. ■Mr..Justice Euclcnill, sitting in the King's Bench Division, haa decided, inutile ease of the London and Manchester Plate Glass Insurance . Company, Ltd., v. Ileath, that, the disturbances created by suffragettes do not constitute riots and civil commoti'ons in' the insurance sense of - that phrase. Consequently, policies taken- out to cover that specific risk cannot bo claimed-- against. In tho ■ reports published of this ease sufficient- distinction does not appear to have been laid upon the fact that there is some difference in the drawing -up of • Lloyd's policies as compared with those issued by - the various accident. companies with whom tho publio do business, and particularly in regard to plate-glass offices. It is' in this connection -that tho dispute appears to have arisen,- and the case referred to above will probably, therefore, lead to an adjustment of this discrepancy. , Tho object of traders in effecting insurances of their shop fronts . and goods is naturally to protect themselves, amongst other things, against just such disturbances as have been created,by the suffragettes, and this is clearly, understood by the companies with whom the majority 1 of commercial men place their business. Tho companies', as is commonly known, accept larger lines on particular premises than they intend to keep, and in connection with the reinsurances ( at Lloyd's there is -some divergence in the verbal, construction of the policies, although ' the intention remains the same. In contesting this matter, Mr. Heath, who represents Lloyd's interests, is relying,-therefore, upon a purely technical point, and until the matter lias been taken- to the Houso of Lords it would be unwise to discuss the ethics of the question at issue. It may, however, be safely predicted that in future - the plate-glass insuranco companies will endeavour to obtain from Lloyd's underwriters an undertaking that,, in the event of a claim being paid to the assured by the issuers of the first policy, all reinsurers who follow after shall do likewise. This action is often adopted in connection with other brancho3 of insurance business, and it is clearly only fair that a similar ooureo should be followed i'n connection with claims for destruction of plate-glass by suffragettes.

Customs. duties collected at tho port of Wellington yesterday amounted to £3237 16s. Id. - . • ' 1 1 \

LIVERPOOL 1 MARKET. REPORT. Messrs. G. and R. Slunro sent tho following Liverpool market report, dated December 19, 1912:— '

: ' Frozen Beef. , _ Rivor Plate.—Recent arrivals have been light, but this market is well supplied, steady trade prevailing. Best ox forts, 160-2001b.; 3Jd. per lb.; ox hinds, same class and weight, 3Jd. per lb. Australian.—Heavy' supplies, trade not too good for crops, and very poor for hinds. Best ox: crops selling at 3d. per lb., and hfnds from 3Jd. to 3 3-Bd. per lb. The latter price can' only be made for exceptionally prime and heavy quarters suitable for tho Christmas trade. A few lines of g>.a.q. Queensland beef aro being sold for December and January shipment at 2}d. and 33-Bd. per lb. c.i'.f. for sides.

New Zealand.—Nothing doing hero either on tho spot or forward.

Frozen Mutton. • , River Plate.—Supplies exceptionally Jipht and not equal to the demand, heavy wethers soiling freely at 4 3-Bd. per lb. , Australian.—Arrfvals aro commencing. to -assume fair proportions; however, the dimaud is good, and everything to hand Is soiling readily at 4d.-per. lb. for Sydney owob, 30-501bs„ and 4Jd. .to 4Jd. for-f.a.o. and g.a.q. wetliers. \ Mutton for forward shipment .is offering very sparingly, and business has been dono at 3Jd- per lb. c.i.f. for equal numbers of f.iy.q. and g.ti.o. wethers, and ewes at 3Jd. to 3Jd. per lb for Do-comber-January shipment. 'New-Zealand.—Very . scarce. Small lota of -heavy wethers being drawn from London at <!Jd. per lb., ex store.'

' . Lambs.' Australian—Limited trade for, New Australian'lambs at s}d. to 5(d., per lb. _New Zealand.—Very scarce, but demand light'at 53d. to s?d. per lb.-

. Chilled Beef. River Plate.—Trade slow. Best binds soiling at 43d. por lb.; fores at 3}d. to 3Jd. per lb. '

All prices quoted herein are ex store, Liverpool, unless otherwise mentioned, tho c.i.f. equivalent being i!d. por lb. less. Cold-Storage—Offering freely at 10s. per ton per month of ?8 days, with 2s. 6d. per ton per woel; subsequently.

HIGIT COMMISSIONER'S CABTTEQEAM. \Tho Department, of . Agriculture, Industries,, and Commerce has received tho fol-lowing-cablegram from tho High Commissioner for Now Zealand, dated London, January 25, 1913.. (Note—Quotations, unless otherwise specified, aro average market prices on spot):— ." ' - . Mutton.—There hag been no' alteration in the market fince last' week. , North Island, 4Jd. per lb.' ■ ' - Lamb.—Tlie market is firm.', New Zealand, this season's, 6Jcl. per lb. Boef.—The market is quiet-. New Zealand hinds, 3Jd. per lh.; fores, 3Jd. Butter.—Tho markot is slightly weaker, with less demand.. Buyers are cautious.Stock is heavy. The 'average price for the week for clioiccst'Now Zealand butter D-rr cwt. is 1145.; Danish, 1205.; Siberian, 1095.; Australian,- 108s.; Argentine, 108s.' ■ Cheese—There is a better demand. Tho average prfco for the week for finest New Zealand chceeo per- cwt., 60s. 6d. Hemp.—The market is firm. There is a general and; active demand. Spot—New Zealand fair'grade, per ton. £33 10s.: fair grade, £32; fair current .Manila, £33 IBs. April-Juno shipments—New Zealand pnod fair. grado, £33 10s.; fair Trade, £32; fair current Manila, £35 10s. Tho output from Manila for tho week was 2S.CCO bales. .* Cocksfoot , Seod.—The market is dull. Bright clean New Zealand cocksfoot seed, weighing 171b. per bushel, per cwt., 545. -. Wool.—Tho • market remains firm. LONDON WOOL SALES. Br Telegraph—Press H<--, London, January W. At the wool sales More ttov.t 'good selection of merinos and crcssbrcds, far whi'ch thero was keen competition, and prices wore maintained. The following are somo of the prices realised:—"Npatnpa," highest prico 12J<i„ average llgd.; "Omaranui," 12Jd. and lljcjL The total catalogued was 97,546 bales, of 'which 92,0-38 were sold. Messrs. Dalgety and Co., Ltd., Wellington, have been advised by cable from their London office, dated January 23,' as, follows:—"Wool soles continue active, 'and Competition brisk. For good greasy merino combing and fine crossbred wools, priccs aro rather higher." WHEAT AND FLOUR AFLOAT. By Telegraph—Press Association—Copyright London, January 26. Shipments of wheat and flour afloat for Europo on January' 25, compared with a year ago, were:— . Jan. 25 Jan. 27. 1913. 1912. > , Quarters. Quarters. United Kingdom 2,165,fC0 2,565,000 Oontineut ■ 1,830,C00 990,0C0 l ' 4,055,000 3,555, CCO The wheat shipped from t.he Atlantic fl-nd Pnciflc Coasts of North Amorica during the past week and for the corresponding week of last year. is estimated by "Bradstreet's" to bo:— Atlantic Coast 590,000 170,000 Pacific Coast 62.C-C0 45,C00 ■ . 652.CC0 215,000 The total shipments to Europe from all exporting countries during tho week amounted to 1,425,000 quarters, including 94,000 from Australasia, as against 750,000 miartors, including 120,C00 from Australasia for the corresponding week of last year. WHEA.T MARKET. London, January 26. Wheat is slow of sale. Australian is held for full priccs. Two cargoes sold at 38s. 3d.; South Australian January-Feb-ruary, at 37a. 9d.; Western Australian March, 375. 6d. LONDON MARKETS. London, January 26. Copra.—The market is active. South Sea, in bags. £27 10s. to £27 15=. Cotton.—January-February. 6.47£. Ib. Jute—January-February, £26 ss. to £261f6l Hemp.—Jfarket steady, artl prices unchanged. Rubber, 4s. 4}d. per lb.