COMMERCIAL ITEMS.

Dominion, Volume 6, Issue 1736, 29 April 1913, Page 10

COMMERCIAL ITEMS.

•. lIJV&MEfT SHAKES. A sale of Westport Coal shares at 275. 6d. lvas the only transaction recorded, in investment [shares yesterday. The quotations, were fl6 under:— ;

•."■•OCEAN ACCIDENT AND GUARANTEE. ■ Sir Joseph Ward, who is o, local'director of the. Occan, Aci;i(!pnt and Guarantee Corporation, was present at the annual meeting of shareholders, held in Loudon on March 18,' and was invited to say, something 03 to. the prospects of the Dominion. This as what he said:—. ".Wr.;.Clinipnaii and gentlemen,-I desire to say that it .is' a great pleasure tome to be here and to'congratulate those who are responsible for the control of this great corporation upon the bucccss it is making, So far ns New Zealand is concerned, ..it is a great pleasure to mo to bo able to say that it as remarkably prosperous. 'It' haajiad one of the best financial years ,on record, and tile indications point ■to o, continuance of good results in that ■respect. The agriculturists are doing well, the. farmers particularly. I may eay that occasionally-wo havo those troubles which ate not unknown, in other parts of the world ,in counoetion with labour. It is a country where high wages are paid. The troubles we have, after all, are very slight, compared with the great numbers of peoplo who are engagod in the important industry that belongs to the country itrolf. So .far .as this society in New Zealand is concerned, it stands in the highest respect of all classes of the community. Whatever business it get 3it gets ou its merits. It conducts its'work in a way which is satisfactory to those doing business with it, and I look forward to it being more successful in the future."

' ' • GEBMjUJ llAni SUBSIDIES. The German' Government has now invit-ert ' offers ' from 1 Hie shipping companies for undertaking the mail service to East Asia, and Australia'in viciv of the expiration next year of the present mail subsidy agreement with theOforth German Lloyd, ■ which -has carried on the services jnnce their first institution. Apart, from the Lloyd : Company, the "Berliner Tajjeblatt" states- that the only possible competitor, a.s the' liansa, .Company, and the German Australian Company have hitherto exclusively ' devoted themselves to the freight traffic, is the.Jiamburß-Amcrican Company or n combiii'.ition.ill which that cumpnny would take' the lead. t-omc years aid the.

Hamburg-American ('nin)Ki ny co-operated with the North (Icrman Lloyd in regard to' l.he mail tcrvicc to the Far Kast, but. tile formal- subfcciueiitly withdrew from t.lie opiToim-iit. and reverted solely to the freight business with l-lnstcrn Asia-. DAIJIY PRODUCE. Messrs. "\\ r . Weddel and Co., Ltd., in their "Dairy I'rmluco Circular," dated London, ilarch l'l, report as follown':— ISuttcr.—The demand for Australasian butter t!iiii week luis not shown much improvement, except for New Zealand, which is due to t.ie destruction by fire ill Jtio de Janeiro Harbour of the <15,600 boxes in tho lurakiiia. due in London on March 21. It is difficult to hco how ■ this shortage can ue made pood at this time of the .year, anil buyers, recognising thL->, are prepared to pay at least 2s. per cwt. advance on last week for the' choicest- brands oil tile A-tlionic, now discharging. The next largo arrival of New Zealand will be ill. the Coriutliic. due on April 3, and consists of 51,600 boxes. The Kumara. und Uurunui. duo March 20 ;ind 22, are currying 2600 and 24C0 boxes respectively. Australian is meeting a. rather plow demand, • but for choicest brands of this variety tho inquiry is fairly satisfactory at last week's prices. Ohoicest Australian salted ranges from flCs. to 112s; per cwt.. and lower qualities may be h<id down from 1003. to IC2h. UjiKiltcd is gradually losing its premium over salted. Owing to the "uncertainty of the effect which the loss of tho Tura-kina-'s butter will ha.vo on tho market, holders of New Zealand -butter in tho Athe.uic are loth to name a price, as it is felt that- tliero will not be enough to supply the demand during'this month. Whero prices -liavp been - fixed 120s. to 121fi. per cwt. has been mado for 'called, and 121s. to 1225. .for unsalted.

Continental and other foreign butters in our markets arc meeting a. quiet domaml at la'st week's prices. . The Board of Trade Kcturus show that tho imports of both foreign and colonial buttci: for the month of .February and for tho' iiioumib of January and February liavo -steadily, declined during the last three years.

1 Gheeae.— I This market - has 'shown more animation this wee!:, part of which is due to the dropping out of tho market of 1030 toils owing to its destruction by tiro in the - Turakina-. Another element strengthening tho demand is.the increasing scarcity of really choicest Canadian. Choicest New Zealand whito is making 625. per cwt., and coloured 61s. 6d. Canadian choicest white and coloured is eelling at 635. to 645., with strictly fancy making up to 6fc>.

Last week-it was . shown. In this report that arrivals o! New' Zealand cheese tins season, according t-o tho Board of Trade lie tarns from November up to the end of February, were 1853 tons more this year than last, which is an increase of IS .5 per cent. The shipments of New- Zealand cheese this season, according to tho official figures of tha shipping companies, from October 1 up to tho end of February were 19,729 tons, against 16,597 tons for tho same period last year. The shipments thus show an-increase of 3152 tons, which is an Increase of. 18.8 per cent. Or this, increase 1030 tons in the Turaldna will not reach this market, and tho increase instead of being 18.8 per cent- is thus reduccd to 12.6. Tho following are the ships afloat with the tons of cheese shown in parentheses, and the. dates tlicy arc due to arrive:—Mamara (95), Maxell 15: Kumara (760), March 20; Nairnshire for West Coast (732), March 22; llurum»i (1210). March 22: Oorinthic (1290). April 3: Delphic (468), April 9; Eemuera (1260), April 17; Kaikoiira' (550), April 21. y

Customs duties collected at the • port, o'f Wellington yesterday . amounted to £2539 Us. lOd,

TAUPIItI COAL CO.' (By Telegraph—Press.Association.) 1 ' Auckland. April 28. The annual meeting of tho.Taupiri Coal Company was held this afternoon, Mr. E. W. Alison (chairman of directors) presiding , I

Tlie balancc-sheet for the twelve mouths ended, March 31 showed a not profit of £11,63 4 7s. 7d„ and tho balance brought forward from last year was £3979 17s. 6d„ making a, total of £15,614 Ee. Id. An interim dividend of 9d. per share, amounting to £4537.105.. having already been paid in October a balance of £11,076 15s. Id. remained available, which it was recommended should bo appropriated as follows:—£6oso to payment of dividend of 9d. per share and bonus of. 3d. per share; £2000 to be carried to'reserve fund; balance of £3026 15s. Id. to be carried forward to -new account.

Mr. Alison, in moving the adoption of tho report and balanco-shoet, congratulated shareholders upon the satisfactory results of last year's operations, whicli, after writing off ail allowance for depreciation, showed a net profit of £11,634 7s. 7d. Contrasted with the previous year, there, was :i falling off in profits amounting to £2549 6a. 4d. This was .mainly accounted for by tho stxiko which took place last October.

HIGH COMMISSIONER'S CABLEGRAM. •' The Department of Agriculture, Industries, and. Commerce lias received tlie following • cablegram from the High Commissioner for New. Zealand, dated ■ London, April 26:—

Mutton.—The market is a shado weaker. Canterbury, 4Jd. per lb.; North Island. 4id. - Lamb.—The market is quiet, but steady. Stock is small. Holders are firm, but high prices are restricting business. Canterbury, 6?d. per lb.; other than Canterbury, 6 3-Sd. , '

Beef—The market is quiet, with a fair demand. New Zealand hinds, 4d. per lb.; fores, 3 3-Bd.

Butter—The market is steady. There is a good dema.TLd, and prices are well maintained: Choicest .New Zealand, per owt., 113s. (salted), 115s. (unsalted): Australian, 1095.; Argentine, 1065.; Danish, 1205.; Siberian, 1063. . ,

Cheese.—'Tile. market is quiet,'but rather steadier. There is q. bette.r demand. New Zealand, per cwt., 58s. 6d. Hemp.—The market is dull: very little business doing. The market is weaker, and tendency downward. Spot: New Zea/ land good fair grade, per ton, .£32; fair, £28 10s.: fair current Manila, £33. AprilJune: Now Zealand good fail', per ton, £32; fair, £28 10s.: fair current Manila, £34. The output from Manila'for tko week was 15,000 bales. , . Cocksfoot Seed.—The market is quiet. Buyers are not keen to do business. The average price for bright, clcan New Zealand cocksfoot seed, weighing 171b. per bushel, is <03. per cwt. c.i.f. (nominal).

NEW ZEALAND ONIONS. By Telegraph—Press Association—Copyright (Roe. April 28, 10.55 p.m.) Sydney. April 28. Now Zealand onions aro quoted at £6, a fall of 10s. * LONDON WOOL SALES. London, April 27. At the wool sales 50,916 bales were catalogued a'nd 45,735 sold. Thero was a large selection of merinos, and Yorkshire and Continental competition • was Pricea were unchanged. The following prices were realised for the fleece portions of tho clips named:— "Tahora," top price lid., average price 101 d.; "Hinemoa," lid. and lOid.; "Tuarua." lid. and 101 d.: "Waitati," 12Jd. and 11 3-8(1.; "Delta," 13d. and 12 3-Bd. Messrs. Lovin and Co., Ltd., have received cable advice from their agent 3 in London' that tho following clips have been sold on their account at the sales now current. The prices na.ni.sd being the average price realised for the (leete wool in each inKtancc:—JM/P, Longburn, lljd.: 0-1!, Tenui, 11 l-16d.; EJO, ilaotertort. 103 d.; HEW A REWA, Tenui, llisd.: AVONDALE, Kopuaranga, lid.; I?AN, Bideford, llld.: FERNLANDS, Kopuaraiiga. 11 7-i6d.: VALDOR, Kopuaranga 10Jd.; THE DELTA, Marlborough. 12 3-Bd.: KAWA KAWA. Martinborougli, 10 11-16 d.; .IJI/WHXT. Masterton, 10 11-16 d.; CM, Featherston, 12! d.: BA/M, Wanganui. 10 3-16 d.; WAT.TATAPIA, Bulls, 9gd.; FH/HJIA, Bulls, 103 d. LONDON MARKETS. By Telegraph—Press Association-Copyright London, April 27. Copra—The market is firm, and there is a fair business doing. South Sea. in bags, April-Mav shipment, £28 ss.' per ton. Jute—Native first- marks are quoted at Dmidco at £29 10s. per ton for April-May shipment. . ;Ncw Zealand Hemp—Tho market is flat. March-May shipments aro quoted at £31 10s. per ton. ' . Rubber—Fine hard Para rubber is quoted at 3s. sd. per lb. Cotton.— April-May shipment;'' of American middling cotton are clearing at 6.445 d. ;pcr lb. WHEAT 'AND FLOUR. London, April 27. Shipments of wheal and flour afloat for Europe on April 26, compared with a year ago, were:- Aprim> 1913. 1912. Quarters. Quarters. United Kingdom 3,485,CC0 4.310.CC0 Continent 4,040,000 2,600,000 7,525,000 7.110.0C0 The wheat shipped from the Al.lantio and Pacific Coasts of North America during the past week and for tho correspondiri; wcelt of last year is estimated by "Bradstreet's" to be:— Atlantic Coa.st 255,0C0 191,000 Pacific Coast 30,000 28,C00 , 285,000 219.CC0 The total shipments to Europe from all exporting countries during tho wool; amounted to 1,450,000 quarters, including 120,000 quarters from Australasia, as against 1,440,000 quarters, including 50,000 from Australasia for the corresponding period of last year. WHEAT. MARKET. London, April 27. Ollicial quotations:—Australian wheat, for prompt delivery, 38s. 4Jd. and 365.; on passage, 38s. 10id. and 395. The market is very firm. MANUFACTURED METALS. London, April 27. Galvanised Iron.—First, brands, £16 15s. per ton; second, £15 15s. Fencing wire, £8 per. ton. |

' • Buyers. Sellers. . \ £ s. d. £ s. d. Bank , New Zealand — 11 9 0 Equitable .'Building — S 10 0 N.Z. Loan and Mercantile 0 10 0 — Well; 'Investment 0 10 6 — Feilding.' Gas — -• 10 6 N»Z. 5 0 0 — S.-B/.tfusrurauco • 3 11 6 — Meat Export (52e. 6d.) 2 18 0 — Kaiapoi' AVoollcn (ord.) ... — 5 2 0 Mosgiel iWoollen — 312 0 Hikurangi 0 12 0 — Westport Coal — 17 9 Manning' and Co 4 2 6 — Sliarland's ordinary 110 — Ward* and Co. " 4 17 6 5 0 0