COMMERCIAL ITEMS.

Dominion, Volume 6, Issue 1689, 4 March 1913, Page 8

COMMERCIAL ITEMS.

INVESTMENT SHARES. « The transactions recorded yesterday were two sales of Union Stoam fit <Bs. 6d. each. Tho quotations were as under:— Buyers. Sellers. £ s. d. £ s. d. Equitable Building — 912 6 National Mortgage 3 18 6 1 4 10 N.Z. Loan and Mercantile (10s.) 0 9 3 - Well. Trust and Loan — 7 3 0 Fcilding Gas — ,10 3 Napier Gas (£10) : — ' 20 0 0 Napier Gas (£5) —: 10 0 0 Well. Gas (pref.) — 1. 0 0 N.Z. .Insurance 5 2 6 5 4 0 S.B. Insurance 3 16 0 — Christchurch Meat 15 5 0 — ,Mcat Export (52a. 6d.) 2 16 6 — N.Z. Shipping — 16 10 0 Union Steam 2 8 0 2 8 6 "Union Steam (rights) ..... 0 11 0 — ICaiapoi Woollen (ord.) ... — 53 0 Well. Woollen (ord.) —" 3 13 C Well. Woollen (pref.) — 216 6 'i'auniri Gtia,! — < . l jo Golden Bay Cement — 10 3 Manning and ,Co 3 17 6 — N.Z. Portland Cement ... — 0 19 6 Sharland's ordinary ■ — 110 Milburn Lime (ord.) 2 0 0, — . LONDON WOOL SALES.

Tho London wool Eales commence this evening, but it-will not be until about nndday to-morrow before cable' advices mill bo available hero as to tho trend of tho market. There is every reason to anticipate, If not an advance, then a firm market, with a strong upward tendency. Tho probability is that there 1 will be anadvance, for tho reas-on that topniakeru have been able to raise their quotations, and the Antwerp sales held last weok exhibited a substantial rise, csnecially foT cros3brcdg. At the sales to-day we expcct to see a very strong demand for coarse wools. Tho Wellington sale, the Inst of tho season, will be held at 2 p.m. to-day, but as tho catalogue will comprise odds and ends of tho season's clip prices may not appear as high as those obtained at tho January and February sales. There la certain to be a good demand. According to the produce circular of the Eank of Now Zealand, dated London, January 10, the principal importers of New Zealand wool of 1000 hales" and over for tho London market in the past two years were as under. A few names only are given here:— .

. WELLINGTON WOOL SALES. Just over 3MO bales will be offered at tho 6ales tliis afternoon, and tho catalogues of tho several, brokers aro given below:— Bales. Dalgety and Co 1,165 Murray, Eoberts and Co 625 Levin and Co <70 N.Z. Loan and Mercantile 411 Abraham and Williams .:.... 245 J. Macintosh and Co. • : 60 3,076 Custom® duties collectcd at the port of Wellington yesterday amounted to £1914 18s. lid. STANDARD INSTJKANOE COMPANY. (By Telegraph.—Pros, 3 Association.) Dunedin, March 3. Tile thirty-ninth annual mooting of tho Standard Insurance Company was 1 held this afternoon. 1 Tho Hon. T. Fergus presided. In moving the adoption of the balancesheet the chairman stated: The groes income for the year, including the balancc brought forward, is £155,913 16s. 7d., and the expenditure £128,185 2s. 6d„ which leaves a balance of £27,649 14s. Id. The premium income for the year is £139,358 2s. 5d., an incroase of £8405 15s. 9d, over last yoar. and the return from investments. £8610 1?=. 7d„ as compared with £8279 13s. Bd. for the year ending December 31, 1911. Out or £27,749 14a. Id. left to be dealt with, the. directors strengthened the reserve by transferring to it £7500 and to reinsurance resei'vo £3CCO. Tlioso funds will. consequently stand at £87.500 and £30,500 respectively. Tlie securities aro sound. £50,630 is invested in Kilt-edged, debentures, nnd tho balance on mortgages and on properties which show ample margins. Tho working expenses during tho year havo been swelled by tho establishment of new branches, but tlie expenditure was less than during the preceding year. An interim dividend, absorbing £3000, was paid on June 30, and the directors recommend a further dividend of 8 per cent., which will absorb £6CCO and mske 12 por cent, for the year. Tho report.and were adopted. the retiring directors (Messrs'. W. I'. Edmond and J. Mill) being reelected. ETSE ON -'CHANGE. MILBUKN LIME AND CEMENT. Dunodin, March 3. A sharp rise took nl.iee on 'Chnnne this morning in Milburn Lime <iiid Cement shares, the contributing issue selling at 325. 9d. and 335. It is understood that the directors propose calling up the balance of 10s. per share, and ill- the general rearrangement of tho capital these shares will participate with those paid uu. Shares wero firm-at 40s. 6d„ with no declared seller. HlQir COMMISSIONER'S CABLEGRAM. Tho Bopnrtment of Agriculture, Industries. and Commerce lias received the following cablcirre.m from the High Commissioner foe Now Zealand, dated London March 1. (Ouotations, unless otherwise specified, aro average market prices on Sr Mutton.-rThc mo.rkct is weaker and tendency downward. Canterbury, 4id. per lb.: North Island. 4?, i- , . , „ . , Lamb.—The market, ir quiet. Canterbury, 6M. per 11).; other thou Canterbury. 6d. Beef—The market is dull. New Zealand hinds, 33d. per lb.; Tores, 3Jd. Butter.—The inc.rkot is timet, but stoady. There senornl and «rtivc doniawl for. lie-t- ounlitv. The average price for the week for choicest New Zealand per cv.-t. Is 117s. (palled). H9s. (unsottcd): Australian. Ills.; Argentine, 110s.: Darnell, 1335.; SiWcla. 1104*

Cheese.—The market is firm. The average prico for the weok for finest. New Zealand cheese, per owt., is 60s. 6d, ilemp.—The market is very quiet, no* thing doing. The market is dependent on Manila reports. New Zealand, good fair grade, per ton, £33; fair grade, .€3l; fair current Manila, £33 lCs.; forward shipment, at eamo prices. The output from Manila, for tho week was 28,C00 bale*?. Wool.—Tho market is firm at tho advance. Wheat.—The market is very quiet. New Zealand long-bcrricrt wheat, ox sranary, per quarter of 49611)., 38s. 6d.; short-ber-ried, 375. Gd. (nominal). Oats.—The market is weak, owing to a poor demand. Nov.* Zealand oats, short (Sparrowbills), cx granary, per quarter of 3841b., 245. Gd. Beans.—The. market is firm, with improved demand. New Zealand beans F.A.Q. (old crop), per 5041b., 41s. Peas.— I The market is firm, with more inquiry. New Zealand peas, Partridge, per 5041b., 40s. Cocksfoot Seed.—The market is quiet. Buyers arc not keen to do business, although there are only small stocks of cocksfoot seed held in store. The average price for bright clean New Zealand cocksfoot j-eed, weighing 171b. per bushel, on opot, is per cw.t., 625. (nominal). FROZEN MEAT. By Telegraph—Press Association— Copyright London, March 2. The Incorporated Society of Meat Importers' Smithfield market quotations for the undermentioned clatees of frozen meat are based on actual sales of not less than one hundred carcasses of mutton or lamb, or twenty-five quarters of beef of fair average quality. Tho quotations are not for selected lines, but for parcels fairly representative of tho bulk of the shipments now on the market. The prices which follow are on the average a farthing per lb. more than the values er ship, this dillerence representing the average cost in expense, handling, conveyance, and Gelling the

Rabbits are dull of sale. Large ones are scarce. Prices unchanged. Supplies ore principally of young and small ones. Tho latter are "unsaleable. Pricov nominally, lis. 6d.; in store, young, 16s. 6d. TALLOW. Casks in stock, 3928; imports, 2966 casks; deliveries, 2152. . WHEAT AND FLOUR AFtOAT. By Telegraph—Press Association—Copyright London, March 2. Shipments of wheat and Hour afloat for Europo on February 22, compared with a year' ago, wcro^w March 1, March 2, 1913. ' 1912. Quarters. Quarters. United Kingdom 3,475,000 3,465,000 Continent 3,060,000 1,100,CC0 6,535,000 4,595,CC0 The wheat shipped from tho Atlantic and Pacific Coasts of North America during tho past week and for the corresponding week of last year is estimated by "Bradstreet's" to be:— Atlantic Coast 427,000 116,000 Pacific Coast 4.C00 40,000 ' 431,000 156,000 The total (shipments to Europe from all exporting countries during tho week amounted to 1,650,000 quarters, including 170,000 from Australasia, as against 965,000 quarters, including 185,000 from Australasia for the corresponding week of last year.

WHEAT MARKET, i London, March Z. Wheat is quiet. Prlcas are unchanged, tending; to buyers' favour on large Argentine shipments.

Balro. Boles. 1912. 1911. Bank New Zealand 54.707 56,300 N.Z. Loan and Mercantile .. 35,264 36,044 Dalgety and Co 28,014 27,510 Union Bank 25,100 24,045 Bank New Sonth WalcB 25,040 . 23,113 Bank Australasia. 20.766 17,672 National Mortgage 19,853 22,932 Sanderson, Murray and Co. ..19,595 19,899 National Bank 7,881 8,542 >—

meat: Feb. 22. Mar.l. Mutton— d. ' d Canterbury, light * 4$ Canterbury, medium Jj Canterbury, heavy * Southland ■ *. , ' North Island* best 4 9-16 4 5-16 North.Island; ordinary ... .43-8 4i Australian, light 4 4 Australian, heavy : 35 32 River Plate, ligrht * * River Plate, heavy 4 New Zealand ewes 3§ 3| Australian ewes 3 9-16 3s , Itivftr Plato owes * LambCanterbury, light 7 7 Canterbury, medium 7 61 CautcrburjK heavy , * " ' v Southland > * * North Island, ordinary ... 6J 61 North Island, selected p . 6 7-16 6 r Australian, best 5ft Australian, fair .5 3-8 5 3-8 Australian, inferior ....... ' 51 Rivpr Plate, lirst * * River Plate, sccond ' * BeefNew Zealand, ox fores ... 31 3J New Zealand, ox hinds •... 33 313-16 Australian, ox fores 3 3-16 • 3 3-16 | Australian, ox hinds 3 9-16 . 3f| River Plate, frozen fores 3£ 3J River Plate, frozen hinds 3U-16 311-16 River Plate, chilled fores 33 3 9-16 River Plato, chilled hinds-51 '5 •None offering.