COMMERCIAL ITEMS.

Dominion, Volume 6, Issue 1744, 8 May 1913, Page 8

COMMERCIAL ITEMS.

IX VESTMENT SHAKES. There were no transactions in investment sha.rcs yesterday. The quotations were as under:—

THE SUEZ CANAL. The Suoz Canal Teceipts for 1912 amounted to £5,425,8C0, an increase of £68,500 over the receipts of 1911, notwithstanding tho reduction of transit dues, which is estimated to have cost £400,050. The tonoage amounted to 20,275,120 net, an increase of 1,950,326 tons over 1911, a remarkable feature being the exceptional increase in the passage of vessels in ballast, the toiinage of which amounted to 1,565,778, or more than twice the figure recorded in the previous year. Tho outward traffic was marked by tho. importance of the consignments of metals, machinery, and railway material, which amounted last year to 2,0C0.C00 tons. On the Homeward traffic the greatest variation was in respect of sugar, which decreased by 4C0.C00 tons in comparison with 1911. Tho traffic in oilseeds also decreased by 260,000 tons, soya beans alone showing a slight increase of 11,000 tons. Tho consignments of Indian cotton wore 118,050 tons less than in 1911. Thc;o doorcases are, however, compensated by the increased traffic in and ricc, 281.0C0 tons and' 74,000 toni respectively. Other increases 'iucludc jute, 156,0C0 tons; phosphates, 110,000 toiw; manganese, 62,C00 ton,?, j and 'benzine, 36,000 tons. LABOUR EFFICIENCY! In the annual report of the Melbourne Chamber of Commerce there is an attack on tho Wages Board system which prevails in Victoria. The -report says;—"Tho year has been prolific in the production of Wages Boards, and it was unjust that under those boards efficiency seemed to be quito lost sight of. and that a man was not paid according to tho value of his labour.. Once a wage was fixed by tho board for a certain class of labour in a particular trade, the best men in that class had no inducement to do their best— the efficient and tho inefficient got the same wage; hence the efficient was bound to be brought down to the inefficient state l . The whole system, unfortunately, fostered inefficiency; under it there was no encouragement for a wage-earner to become expert at his calling, and the system tended to spoon-feed workers instead of making them self-reliant and dependent upon their own resources. The result must be of a lowering character. There was no question that the Quality of labour offered now was markedly inferior to what it was twenty years ago." KOTES. Speculators have got hold of the cocoa market, and have forced up the prices. Henco it is predicted that the consumer will pay more for cocoa this year than last, although there was a .big carry-over from tho large production of 19U. According to tho Hamburg newspaper "Gordrou." the world's production for last year is made up at 230,000 tons, against 244,544 tons iu 1911. The corresponding figures for 1910 were 219,562 tons; for 1909, 206.537 tons; for 1908. 193,755 tons. Tho world's consumption in. the year 1912 has not gone baxik. It. made about 250.0CQ tons last year, against 229,988- tons in 1911, 201,166 tons in 1910. and 194.838 tons in 1909. Speculators towards the close of last year bought up all they couid at moderate prices, and immediately, proceeded to screw up the market. The prices for crude cocoa to-day, says tho journal, are about 30 per cent, higher than the averago of tho threo preceding years. On the . other hand, tho competitor of cocoa, • which is coffee, has gone down in price. and if consumers of such beverages care 1 to make a practical note of tho fact, they are not likely to be content lone to pay the higher price for cocoa. Should 1 tho consumption of cocoa decline, and a . good harvest ,come along this year, no doubt the price will become more modcri ate again.

Sheffield is cxpcriencinc ail extremely busy time iu all departments of her iron industries. Probably the most congested departments of the lighter branches is that concerned with handsaw.-. linkers ha.vo regained much of file business at. Home ami abroad which thc.v allowed foreign rivals to capture some 15 years ai;o, and they are now unable to meet tho demand. Rome of them have orders ou lmiid, the execution of which will oceupiy five or six months, 'l'he Sheffield s:uv of' to-day is both superior to aud chcancr than it.; predecessor of 20 years aso. The patterns, both of blade and handle, are more convenient to use, and the finish is better, while the cost of production lias been reduced without any sacrifice of (pialitv bv the use of suitable mechanical appliances. There is a rapid ly-jrowinir de-mand-for ha.ndsaws. which are replacinc circular eaira for cultincr metals. The British Consul in Amsterdam, in his report, for 1912, mahes a, statement of considerable importance to Australia, lie asserts that during the year an endeavour was made to introduce chilled meat into that city. The authorities, lie continues, have now waived their opposition, and have agreed to sanction the trade, provided cach carcass is accompanied by certain part- of the viscera to enable experts to discover if the animals were in perfect- health at tile time of slanshtcr. It is also proposed that fro/.ru meat sliouWl have a distinctive mark placed upon if. . rnid that retailers should exhibit a notice in their sltftif U> Utp PlTo-1. t-ljjt they arc i putTcyai's ol this cla:e of meat, Tlio per-

soin interested in the now ventuie con®|3t of a. firm of merrhimK Ihc propr p. tors of a cnld stnrnjrc warchous;. and Urn owners of a line of DutrU stcumers whk'Ji plies between Amsterdam America-.

The reason for Iho scarcity of "French «ai'diue3 packed in Bnttuny is lluit Hie ehonls of sardines which used to pnss ei«<e iu to the shores of Mini province now cr.vfm far out. <u soa. The fishermen of JiritNiuv, iiowover. who luvo been {icons* tomed to calcli t.ho fish doso by have not tho necessary boats or Apparatus for Hailing inr away from llio wast, u<ml so it coxites about that tho factories nre unable; to fulfil their contract?. Over a hundred of them down at. the bcpninme of tho year, with the threat thaf. they would remove to Spain or Portugal unless the fishermen of Brittany at once eyupped thom=clvw Tor up-to-date sardine llshinc. Should this threat be carried out, olive oil manufacturers, tin-can factories, and over flftv thousand labourers will fuller. In tho meantime', tho firms who plaecd contracts for sardines antl did liot receive what they had ordered, are claiming tho difference betweaa tho eontraet. price and the selling ]>ricc, which ruled very high owing to the serious shortage of lish. FHO/jEX MEAT. Gilbert Anderson and Co. (Jlcsprs. Melleo]). Klioft, ami Co., a gents). roport under London, March 28, a.= follows:— Much anxiety exists among buyers to seen ro New Zealand lambs close it, hand ill view of the light. shipmcnte for t.lie first three weeks of march, and prices In consequence are likely to rise materially m tuo near future. Mutton also it- firming up, bul. tile demand it? not. very good. jlonic-grcwn.—Hcef: Scotch, 6Jd. to 7d ; UiHijli, 6 3-Bd. to 6Jd.; iTish, 6Jd. to 63d. Mutton: Scotch, 63d. to OJd.; English, 7d. to 73d.; Dutch, "d. to 7£d. Tegs: Scotch, 71(1. to Bid.; English, 73d. to BJrf. Lamb: Kuglish. IOJd. to Is. lid.; veal. 8(1. to 10il.; pork, 7}d. (o Bid. Chilled Beef—Supplies liavo been, very heavy, and priccs aro down to—Fores, 3Jtl.; hinds, 42d. ■ , , Frozen Beef.-Xow Zealand fores, 3Jfl.; hinds, 33d.; Australian, 3Jd. .mil 3 3-Bd.; Plate, 3d. and 3 9-lfid.

Frozen Mutton—Plato sheep aro being sold cheaply, trades 64-72, as low as 3Jd. Cantcrhur, unchanged. 48-55, 4}d.; 66-64, 41d.; 64-72, 4«. Best. North Island, 56-64, 4irl.; ordinary, 4id. New Zealand ewes, 33d. for grades 48-64. Australian' sheep, 30-50 , 3Zd. Plate, £6-64. 3gd.; ewes, 32d. Frozen Lambs— Canterbury remain unaltered at present; 11-36, 36-42, and 42-50, 6?, d. Best North Island, 63d. (28-4211).); ordinary, 6d. Australian, bast-, 52d.; fair, s}d.; inferior, 5 J-Bct. LONDON WOOL SALES. By Association—Copyright London, May 6. Tho wool market is active. Price# are unchanged. Customs duties colloeted at the port of Wellington yesterday amounted to £3582 10s. 7d. v (Bee. May 7, 10.40 p.m.) London, May 7. At tho wool sales, the following priccs were, realised for the fleece portions of tho clips named;—"Braneepeth," top 13Jd., average 11 id.; "Wakio," 13Jd. and lljd.; "liua," 13d. and llld.; "U.S. over T.," 12d. and 103 d. FINANCIAL CABLEGRAMS. London, May 6. Yesterday's closing auotations were as follow.— Bunk of Australasia, buyers £110, sellers £112. 'V Bank of New South Wales, buyers £38. eellers £40. Bank of Victoria, buyers £4 2s. 6d„ sellers £4 12e. 6tl. Union Bank of AustraJia, buyers £56, pollers >157. National Bank of Australasia, buyers £5, sellers £5 11s. National Bank of Now Zealand, buyers £4 15*., sellers £5 ss. Bank of Now Zealand, buyers £10 10s., sellers £11 lCs. ' N.Z. Loan and Mercantile Agency 4 per cent, debentures, £94 10s. City of Melbourne, 4 per cejt. debentures, £98. Melbourne Ilarbour Trust, 4 per cent, debentures, £9?. Melbourne Tramway Trust, 4J per cent, debentures, £100. Melbourne and Metropolitan Board 0! Work 6, 4 per cent. Jebentures, £96. Australian Mercantile debentures, £93105. Dalgety «nd Co., 4 per cent, debentures, £92. Dalfiety and Co.'s shares, buyers £6, sellers. £6 10s. Melbourne Co '9 debentures, £99. City 0? Sydney, £99. Colilsbrough, Mort and Co.'s debentures. £96 10s. WHEAT. (Bee. May 7, 10.40 p.m.) London, May 7. The wheat market is'quiet, and buyers are indifferent. Official quotations are:— For prompt delivery, 385.; on passage, 38s. 9d. to 38s. 10Jd. IMPERIAL CONSOLS. , London. May. 6. Imperial Consols arc at £75 2s. 6d., against £74 12s. 6d. at last quotation. THE METAL MARKETS. (Rec. May 7, 10.40 p.m.) London, sla.y 7. Copper is quoted at £69 10s. to £69 7s. 6d. Electrolytic, '£72 10s. Tin, £230 to £223. Lead, £18 Bs. 9d.

IJuycre. Sellers. " £ 6. d. £ s. d. Equitable Building — 9 10 0 N.7.. Loan and Mercantile <0 10 3 — Well. Trust and Loan ... 7 10 — WoU. Gaa (£10) 15 17 6 16 2 6 S.B. Insurance 3 12 0 —, Gear Meat (£4) 12 5 0 — Gear Meat (£1) 3 2 6 - Jk-a-t Export (62s. 6d.). ... 2 18 9 — N.Z. Sliippins 15 7 6 15 15 0 Union Steam 2 3 6 — Westport Coal 17 0 17 9 Taringamutu Totara, — 2 5 0 Manning and Co 3 19 0 — , Ward and Co 4 19 0 — W.F.C.A. (£5) - 7 4 0 W.F.C.A. (£1) - 17 9