COMMERCIAL ITEMS.

Dominion, Volume 6, Issue 1683, 25 February 1913, Page 8

COMMERCIAL ITEMS.

INVESTMENT SHARES. ' . - A Kile of Union Steam shares at 50s. was the only transaction recorded in investment shares-.yesterday. The quotations were as under:—, .;, '■;-.. - ' -v, -, - -, •; ■ Buyers. ; Sellers. ''••'■■ - £, e ; A. ' £s. A. Equitable Building — •• 9 14 0 N.Z. Loan nnd Mercantile 0 9 6 . — N'.Z. and llivcr I'lnto -- ■ -I'M Well. Trust and Loan ... 7 0 0 7 4 0 Keildiug, lias - • 10 3 Well. Gas (second.issue)-. 15 15 .0 — Well. Ga,s '(third issue) ;.. 15 5 0 - Union Steam' — , 210 0 Kaiapoi .Woollen —' .560 Well. Woollen (prcf.) '.' - 2 16 6 Taupiri Coal . — .13 0 Gold»n Hay Cement - .10 3 N.Z. Portland.Cement — , 0 19 9 Sharland'3 ordinary ..-..:. ■ ' — -111) SHIPPING PBOSPEBITY. The past year has been a remarkable one in shippiifg history, and- the reviow of 1912, which "Syren and Shipping" gives, emphasises the widespread character of the prosperity .that has prevailed; by showing the way in which it has pervaded every department of'thc industry. - The high freig-hts enabled shipowners to earn enormous profits, and this,hat; been reflected in a demand- for tonnage wbich has made shipbuilding yards phenomenally active, and greatly increased the value of craft of every description. Then there lias been considerable- reorganisation iu the fleets of the leading lines,-and rumours have been plentiful as to combines,, amalgamations, and agreements. ' This has brought shipping securities into unusual ■ prominence on investment.- arid 'speculative account. -The fluctuations in-some stocks have been extreme; for . instance, .Peninsular and Oriental deferred ordinary ranged from £246 to £422,'. and the-preferred ordinary from £112 ton £131, and Hoyal Mail ordinary from.'£97 to £155./: The chief factors which led to the rise were tho general expansion in the world's trade, the unsatisfactory harvests in Great Britain,.and the good crops abroad which promoted an exceptional movement in grain, and tho demand for tonnage'for coal ehipments, a result of the . miners', -national strike. CIUUGE' FOR BANK ACCOUNTS. According to tho Sydney "Daily Telegraph," several' of the Australian ..banks have modified-.their -method of charging customers for keeping -an account.Hitherto all accounts':wcre debited with ss.;.:each half-year, irrespective: of. the-amount at credit of tho -aceounti . Now -.the charge will not hi- exacted if. the.,-account docs not fall below £50, nor will it be charged on advance accounts. It will be remembered that the Commonwealth Bank made a similar arrangement iconic little time prior to its opening for ordinary bank business. ROBERT CAJIPELL AND SONS, LTD. Shareholders of PLobert Campbell and Sons, the New Zealand wool arid sheepfarming company, will rend the report just issued with considerable satisfaction, says the "Financial Times." Not only have profits increased, but the directors propose to distribute'a bonus in' cash'equal to . 100 per cent. Net profit in.the past year increased .by .&J3OO to £15,250, as compared with the previous twelve months, and, with the amount brought in, (he available balance is £57,800, as against £56,000. iA sum of £20,CC0 -is transferred to' the'. Teservc, bringing that fund,up to £60,CC0. or an amount equal to the share, capital of tho company, but the • directors consider that this reserve is not likely,'to be required for the purposes of the company's business, so they propose to distribute £1 per share iu April next, when the bonds, which the company holds as investment, will mature. The dividend is 10 per cent. and. £31,800. carried forward. For the ; previous year the dividend was 10 per cent, and a bonus of 12i per cent, was also paid, while £42,500 was carried forward. At tho end of December the company had cash, in hand- or on jhort loans of £43,600, and tho direstora apparently consider that the £31,8C0 to be carried forward is a sufficient reserve for all practical purposes.

AVIATORS AS A LIFE.:BIBK. • In our commercial column yesterday, 'under the heading of "Aviators as'a Lite Risk," it was stated that "Apparently the A.M.P. Society has been asked to take aviation, risks at Us London olllcc, etc." We And from Mt. E, W. Lowe, the resident secretary, of the society ( in New Zenland, that. what is in the paragraph Is quits correct, but that tho principal board ,in Sydney has since reconsidered the subject, and rescinded its decision. ■ It does not now preclude its members from aviation, and places no clause in Its policies prohibiting them from doing eo. If, on tho otlher hand, when taking a proposal it is found that-,the applicant is actually engaged in aviating or .that ho proposes to do so, the proposal would not bo accepted. ' . Customs duties collected at the port of Wellington yesterday amounted to £2047 Us. 9d. ;-;■ - • L\;.'. LIVERPOOL MEAT MARKET.'...Messrs. G. and H. Munro report as: follows on the Liverpool market under date January 16:— 1 ■ Frozen Beer. River Plate—Fairly hoavy supplies continue to arrive regularly, and there is keen competition lor what business is going. Best brands of fores; 160-2 CO are making sd; per lb.; hinds,' same, weights, 3 3-Bd. to 3ja. : per lb. ' ' ■ • ate very light, but trade is hampered by the large quantities of small weights of cow and Inferior ox beef, which sellers are vainly endeavouring to- quit; Small' ox hinds, first grade .'ar regards quality, are Celling at St. to 3Jd. per, lb.; and cows and inferior ox at any price. Best ox crops are scarce, and worth 3Jd., with ,cov>' and inferior ox crops down to 23d. Several sales of g.a.q. sides of ox beef are . roported for Oanuary-February shipment at 3 3-Bd.'pcr lb„ c.l.t. ' ■.;- Now Zealand,—Nothing doing- on the spot. Forward shipments of best ox hides are offering at 3&d. per lb., c.i.f., but without finding buyers. :■■ '.'i.' Frozen Mutton. River Plate.—Moderate shipments continue to arrive, which are roported to have cost the .'shippers very high, prices. Tho demand is quite good, though prices arc weaker owing to tho competition of Australian shipments. • Best wethers selling at 4}d{to 4 3-Bd. per lb. '." , Australian.—Heavy shipments are arriving, and though the demand is good, prices' arc weaker. F.a,.q. Sydney wethers, 30-501b„ offering freely at 3}d. per lb. The present cwos. at" 3Jd. to 38d. per lb. The present weakness in the spot price of Australian mutton' Is due to temporary causes 'which may pass off. New Zealand.—No supplies available here, and the prices being made in London preclude any possibility of business with Liverpool, Frozen Lansbs. . Australian—Fairly heavy shipments nave been arriving recently, for which there is a quiet demand, at prices ranging from sd. to 63d- P«r lb., according to quality, of which the rango is. considerable. New Zealand.—No new season's on this market yet, and no inquiry In the meantime, as the price is,beyond this market. River Plate.—Shipments are coming along regularly, but tho quality is not good, and the weights unsultablo for this market. In these circumstances low prices, as compared with Australian, have to be accepted. River Plate Chilled Beef—Heavy supplies available well- in excess pf the demand. To-day's prices: Best hinds, 4d. per. lb.; fores, per lb. . . All prices.mentioned herein, unless otherwise stated, are ex store 'Liverpool, the ci.f. equivalent being Jd. per lb. loss. HIGH COMMISSIONER'S CABLEGRAM. The Department of Agriculture, Industries, and Commerce, has received the fol- | lowing cablegram from the High Commis- ! sioner for Now Zealand, dated London, : February 22. Note—Quotations, unless otherwise 6pcciflod, are average market prices on spot:-*- ' Mutton.—The market is quiet, with a tendency in favour of buyers. North Island, 4 3-Bd. per lb.; Canterbury, not quoted. • . « Lamb.—The market is slightly weaker, with less demand. High prices are restricting business in tho maTkot. Buyers ore cautious. Canterbury, 63d. per lb.; other than Canterbury, 63d. Beef—There is a better demand. A moderate supply. New Zealand hinds, 3Jd. per lb.; fores, 3Jd. ' ! Butter.—Tho market is firmer. There hns been a favourable change in tho weather, which is cold. Continent ore buying unsaltcd. Choicest New Zealand, 116s. per cwt. (salted); choicest New Zealand, 119s. (nnealted); Australian, , 1125.; Argentine, 110s.; Danish, 1315.; Siberian, UOs. Cheese.—The market is firmer. A moderate demand. There are complaints of the quality of New Zealand cheese this 6cason. Tho average prico for the week for finest New Zealand choose, per cwt., is 60s. 6d.; Canadian, 6te.; English Cheddar, 745. Hemp—The market is very quiet;nothing doin?; and is wenkcr, with tendency downward. Spot: New Zealand good fair grade, per ton, £33; fair grade, £31; fair current Manila. £33.105. Forward shipment: New Zealand, good, fair, £33 10s.; fair grade, £31 10s.; fair current Manila, £34. The outDut. from Manila for the week was 17,000 bales. Hops—The market is quiet, but moderate busino?s doing. Stock is being reduced gradually. Stock is moderate. English, 100s. per cwt.; California. DOs. . Wool—Tho market remains . firm. Crossbreds arc higher all round. > LONDON MARKETS. *t TeltzraDhrPress .Association—CoD-rritrhi London, February 23. Copra—Tho market i 3 steady. There have boon small sales of South Sea at £28 poi ton. , ,

Cotton.-Fcbruary-Uarch shipments of American middling cotton are quoted at 6.47 d. .peril). -, ■;.-.. ~..,- .... New Zealand Hemp.—Tho market Is quiet, and tending downwards. Jute.—Native first marks, FebruaryMarch shipment, £26 10s. per ton. Rubber.—Fine hard Para rubber, the market is nominally at 3s. lid. per lb. Messrs. Dalgcty and Company, Limited. Wellington, have been advised by their London office by cablegram as follows:— Frozen meat: Becf-Tlio- demand Is better. Fores. 3Jd.: hinds,' 33d.- • Iximb—Demand limik'd. North Island, heavy and light, 6 3-Bd. Mutton—Demand limited. .Quotations: North' Island, heavy and llplit, 43d. Tallow—Low. and inferior descriptions'. 3d. to 6d. per cwt. lower. Good colour, mixed or beef, 6d. per cwt. lower; and muttoil scarcely in.demand, nominally 6d. per cwt: lower. * WHEAT'AND FLOUR AFLOAT.'' - : By- Telegraph—Press Aasociation-CopyrlEht London, February 23. Shipments of wheat and flour afloat for Europe on February 22, compared with a vcar ago, were*-' ■ : Feb. 22,' Feb. 23, '-"'.' 1913. , 1912- . 'Quarters. Quarters. United Kingdom -3,220,000 - J.260.CC0 Continent , ■.'.' 2,750,000 1*200,000 .":'''' 5,970;000 ' 4.460,000 The wheat shipped from the Atlantic and Pacific' Coasts of North America during the past week and for the corresponding, week of last year is estimated by "Bradstreet's" to bet— ' Atlantic coast 155,000, 103,000 Pacific coast 30,000 16,000 • ■'■ 18W00 119,000 The' total shipments to Europe from- all exporting countries during the- week amounted to 1,445,000 . quarters, including 160,000 from Australasia, as.-against-1,065,000 quarters, incruding 164,000 from Australasia for the corresponding week nf laat'year.■ The wheat market is quiet, but firm, notwithstanding liberal Argentine' end Australian shipments; 38s. to :38s. ,6d. is asked for Australian January-February, and 393. for o bad steamer cargo (January); 375. 9d. has been paid fona.parcel in March.-: