COMMERCIAL ITEMS.

Dominion, Volume 6, Issue 1712, 1 April 1913, Page 8

COMMERCIAL ITEMS.

INVESTMENT SHARES. There was' no business done in investment shares yesterday. Tlio quotations wore as under!— 1 • Buyers. Sellers. £ 6. d. £ s. d. National Bank (rights)... — 019 0 .Bank New Zealand 11 5 0 — Equitable Buildiiig — 910 0 N.Z. Loan and Mercantile 0 9 9 — N.Z. and River Plate — 2 10 Well. Trust and Loan ... — 7 2 6 Ohristchurch Gas 1 5 0 — Fcilding Gas — 10 3 Well. Gas (pref.) 1 0 0 - ■Union Steam — 2 4 3 Westport Coal 17 0 — Taringamutu Totara — 2 6 0 Sharland's ordinary 10 6 110 Ward and Oo 4 17 0 5 1 0 W.F.C.A. - .7 5 0 The course of sales during the past month was as under:— National Bank, £5 18s. National Bank (rights), 215., 215., 205., 205., 205., 20a. 6d„ 195., 19s. N.Z. Loan and Mercantile, 10s., lta, 10s., 10s„ 9s. 9d. Wellington Trust and Loan, £7 2s. Ohristchurch Gas, £7 10s. Wellington Gas, third issue, £15 10s. Wellington Gas, preference, 205., 20s. Id., 20s. Id., 2te. N.Z. Insurance, £5 3s„ £5 35... £5 3s. Ohristoliurch Meat. £15 7s. 6d., £15 7s. 6d. Gear Moat (£4), £12 6s. Gear Meat (205.), £3 3s. ' Meat. Export (525-. 6d.) t £3. N.Z. Shipping, £16 3s. 6d„ £16 2s. 6d„ £16 2s.- 6d. Union Stoam, 48s. 6r1., 4Rs. 6'l„ 9-1., 48s. 9d„ <Bs. 6d„ 495„ 49e. 3d., 495. 3d., 445. 3d, 445. 3d. Union .Steam (rights), 12s. 6d., 12s. 6d., 13s. 3d., 13s. 6(1. Taupiri Coal, 235., 23h. 6d„ 235. 9d. Leyland-O'Bricn Timber, 265. Taringamutu Totara, 455.

THE WARRANTY OF SEAWORTHINESS. Tho "Law .Journal" says:—"lt lias been said that the bills of lading given by shipowners now contain c-o many exceptions that their only remaining obligation je to receive the freight. For this remark there has been some justification; bat the elaborate clauses by means of which carriers have sought to escape from liability have sometimes, by reason of •their involved language, defeated their object. For a, loss by an excepted peril, duo to the unseaworthiness of the vessel or tlie negligence of the shipowner or his servants, he is liable at common law. Ho is at 'liberty in this country to contract himself out of this liability; but he must do so by clear and unambiguous stipulations. Contracting out, ats Lord Loreburn said in one case, is not established by longunge which may mean that and may mean 'something else. In Ingram and Itoyle, Lt. v. Sorvices Maritimes du Treport, decided by Mr. Justice Pcruitton a clause in the bill of lading provided that 'the maintenance by the shipowners c.f the vessel's clnes (or, in the alternative, falling a clafs, the exercise by the shipowners and or charterers or thoir agents of reasonable care and dlligcnco in connection with the upkeep of tho sliipl shall be considered a fulfilment of every duty, warranty, or obligation, and whether before or after tho commencement of the paid voyage.' This remarkable clause, paid the learned Judge.' was so ambiguous, both to lawyers and business men, that he felt bound to hold-that It did not protect tho shipowner. And he. held further that, even if n. meaning could he given' to it, tli enogllgent stowage on the particular voyage, though a causa of dangor to the

ship, did not afreet, her class, and therefore the shipowner remained liable, in spite of the clansc, for the negligence of his agents in stowing dangerous goods in such a \v<i,v as to bo a source of peril." OCEAN ACCIDKNT. Tlie general manager for Australasia of the Ocean Accident and Guarantee Corporation, Ltd., reports the receipt of calilod information from London giving the figures for the year ended December 31 last as follow:—lncome for . the .year. £2,078,864, heing an increase of £174,673 over 1911. Balance to credit of profit and loss account, after paying all claims and expenses, and including provision . for outstanding claims', is £1,391,469, heing an in- ■ ereu.se of £239,789 over 1911. . The reserves on December 31 were £2,366,768, being an inorease of £271.154 over 1911., . The total assets are £2,686,254, an Increase of £293,603.

lITGTC COMMISSIONER'S CABLEGRAM. The Department of Agriculture, Industries, and Commerce has received the following cablegram from tlie High Commissioner for Now Zealand, dated London March 29. (Note—Quotations, unices otherwise specified, are average market prices on spot.):— Mutton.—Tlie ma,rket is steady, with an improved demand. Canterbury, 4{d. per lb.: North Island, 4Jd. Lamb.—Tlie market is firmer. There is more demand. Canterbury, 6 3-Bd. per lb.: other than Canterbury. 6d. Beef.—Tlie market is o.uiet. but steady. N.Z. hinds. 33d. per lb.: forts, 3id. Butter.—The market Is dull, except, for best quality, for which the market <s quiet, but steady. , Choicest New. Zealand, per cwt., 119s. (salted); 120s. (unsalted); Australian. Argentine, 1095.; Siberian, Ills.; Dpiiish, 129h. • Cheese.—Tho market is very quiet. New Zealand, 61s. per cwt. Hemn.—The market remains very flat. Spot—N.Z., good fair grade, per ton, £34; fair grade, £31; fair current Manila; £33. April-June N.Z. good fair, £34 IPs.; fair grade, £31 195.; fair current Manila, £34. The output from Manila for the week was 20.000 bales. _ Wool.—The market remains firm for merino, but easier for crossbreds. Linseed.— I Tho market is firm. New Zealand, 565. per cwt. (nominal). Cocksfoot Seed.—The market is quiet. Bnvers arc not keen to do business; Hops.—The market is firmer. English, 110s. per cwt.; Californian, ICOs. Wheat.—The market is rather miiet. N.Z. long-berried, ex granary, .per quarter of 4961b., 395-. 6d.; short-berried, 385." 6d. mal). Oat;.—Tile market is dull, except for best quality. N.Z. oo.ts. snarrowbilte, ex granary, per quarter 3841b., 255.; Danish, per quarter 32Mb., 20s. Beans.—The market is firm, owing to reduced supplies. N.Z. beans f.a.q. (old ci">o), per 6041b., 41s. Peas.—The market is firm. N.Z. peas, partridge, per 5041b., 41s. LONDON MARKETS. By Telegraph—Press Association—Copyright London, March 30. . Jute.—Native first marks, March-Apri l shipment, £28 IDs. per ton. Hemp—The market is ouiet. FebruaryApril shipment, £34 ICs. per ton. ItubliEr.—Fine hanl Para ruibber. fie quoted at 3s. 9id.. per lb.

Coora.—The market is Arm. South Soa, in bugs. March-April ehrnment, £28 10s. per ton. Cotaon.—March-April shipment of American middling are clearing at 6.66 d. per lb. Galvanised iron.—First brands, £J7 10s. per ton; second brands, £15. Foncing wire, £8 2s. 6d! per 'ton. WHEAT AND FLOUR AFLOAT. London, March 30. Shipments of wheat and (lour aiioat for Europe on March 22, compared with a year ago, were:— March 29, Marcli 30, 1913. 1912. Quarters. Quarters. United Kingdom 3,690,CC0 4.1E0.0C0 Continent 3,195,000 1,930,000 6,885,000 6,110,003 The wheat shipped from the At.lantio and Pacific Coasts of North America during the past week and for the corresponding week of last year is estimated by "Bradstreet's" to be:— Atlantic Ccast 314.CC0 195,000 Pacific Coast ..' 16,C00 20,000 330,000 215,000 The total shipments to Europe from all experting countries during the week nrao'inted to I,{CO,CCO quarters, .incliidinur 108,0(0 from Australasia, as against 1,175,000 quarters, including 125,K0 from Australasi'a for the corresponding period of last year.' WHEAT MARKET. London, March 30. , Wheat cargoes aro steadily held, 375. 9d. being refused for a New South Wales steamer February shipment.