COMMERCIAL ITEMS.

Dominion, Volume 6, Issue 1745, 9 May 1913, Page 8

COMMERCIAL ITEMS.

investment hiiakkh. The sales recorded yesterday were Union Skvun a.t 435. 9d. and Tnriugamutu'Tolara at 45-. The quotation* were os under:--JJuyeiv.. Sellers. £ s. d. £ fi. d. N.Z. Lnjui and Mercantile 0 10 3 Well, (las (£10) 15 17 fi N.Z. Insurance 5 0 0 S.H. Insurance 3 12 f> Meat, Export (525. 6d.) ... 2 18 0 ; N.Z. Shipping 15 7 6 15 15 0 West port Coal 17 0 1 7 9 Taringamutu Totara . 2 5 0 Golden Hay Cement -- 10 3 Manning and Co 3 19 0 Ward and Co 4 18 G — ChrHohurch Tram Debentures l ,nr fIKHMAN AIRSHIP FINANCE, Notwithstanding the rapid development I which German aerial navigation has as- ' snmed from a sporting point of view, tho "Berliner Tageblatt" states that the con--1 struction of aircraft has not yet proved I to be remunerative from an industrial I standpoint. This is explained by thq c\r--1 cumstnnce that the industry; ha*, not been able to sufficiently utilise its advantages commercially, as the army authorities, for military reasons, prohibited the salo of ships of definite systems to other conntries. As, however, on the other hand, tho nrmy authorities for financial considerations have been unable to provide adequate work for all the airship builders, the latter have got into u difficult situation. Owing lo this recognition, which has. perhaps, been hastened by external circumstances, the Siemens-Schuckert works and Herr Clout, of Cologne, have suspended the building of airship#, whilst the .still existing undertakings iu've to contend with great difficulties. The Delag has hitherto worked at a growing loss, as the company has suffered the loss of a ship every year. At the end of 1911 tho loss amounted to £32,C00, and thifl has probably risen to £50,000 by tho destruction of tho "Schwaben" last Rummer. However, a change for the better seems to be taking place, in so far that the army authorities intend to grant subsidies on Dclag (Zeppelin) shipt-. wliilst the company is to continue to undertake not to sell any whips for abroad. The company, is nop seeking to raise additional capital. On the other hand, tho Lnft Fahrzeug Gesellschaft. which reduced its share capital of £20,000 to £BCOO last year, has now begun business abroad« on a larger scale, with the consent of the Prussian Army authorities, and has already sold Parse vat ships to Russia, Japan, England, Austria, and another European country. The company ha.s two airships under construction for the Prussian Army, and in order to provide employment for Us workers the building of aeroplanes has also been commenced. The third airship factory, which produces ,the Schulte-Lmz balloon, has refused foreign orders for the present, but is to be compcusated by an order from the Prussian Army authorities for a new balloon. The lock of remunerativeness has also compelled the builders to raise prices in order to some extent to be able to keep thair works in operation, and the Zeppelin ghip now ranges from £50,CG0 to £90,C00, as compared with £25,000 paid by the military awthoritiee lormcrly. With respect to aeroplanes the same authority remarks that the surplus of the i production of aeroplanes over the demand, tho newspaper states, is considerably I greater than in the case of ain-hips. In 1912 about twenty new aeroplane factories , were brought into existence without, how--1 ever, the demand increasing to a corresponding extent, and at the present tlmo i thero are about tlurty-fivc aeroplane factories in the country, apart from the numerous workshops in which a single builder is constructing a machine. The profitability of- aeroplane construction depends upon tho volume of business and the amount of the working expenses, and "both are in a great disproportion in the case of most factories* Nine-tenths of ! the sales are limited to the German military authorities, whose, order?, however, a.re only entrusted to a few firms. Tho military authorities base their reasons for this action on the fact tbat the mobility v 1 of the flying corps would considerably suffer from the use of too many different types of aaroplo-nes. The working of each individual type differs from that of other systems, and no flying, officer could loam ; to uee moro than two or three types at ! the most. As a consequence it might happen, in the event of war, with many kinds of machines that a flyer and an aeroplane could be ready for service, but not ho i capable for service owing to the officer not being familiar with tho type of »»• chine; ?vot only so, but the replacement of missing <ir broken parts would be rendered exceptionally difficult if many system? were employed. The 'position .is similar with hydroplanes, Jn this case the navy is the sole purchaser. BRITISH WOOL IMPORTS. Tho imports of wool iuto the United, Kingdom during 1912 were valued at £33.235,015. Of this sum Australia secured £12,589,003. New Zealand caine next, on the list with £7,701.364, and British South' Africa was third with £4,544,896. The shipments from the Argentine were worth. £2.208,681. The figures for the past two years com.i pare as under:— . . Couutry of origin. 1912. 1911. Australia 12,589,003 14,710,826 Russia 379,712 109,125 i Belgium •' 210,357 174,178 France 1,852,916 1/06,967 Turkey 235,986 327,876 Uruguay 365,679 225,162 Argentine 2,208,681 1,966,848 i South- America 789.220 768,184 British South Africa ... 4,544,896 3,812,151 British East Indies 1,595,342 1,553,250 ; New Zealand 7,701.364 7,476,011 I Falkland Islands 152,412 86,423 ! Other countries 589.447 £60,780 Totals £33,235,015 £32,977,782 COMPANIES'REGISTERED. In the list of companies registered published by the '"Mercantile Gazette" thero appear the . following M'Glashan's. Ltd., registered as a private company. February 18. Office: Tennyson Street. Napier. Capital: £3CCO, into 3000 shares of £1 each. Subscribers: A. J. M'Glashaii, £2C00; A. C. Marett. £1000. Objejct6: To carry on ths business of auctioneers. commission agents, sub-agents for insurance agents, ctc. Mortensen's, "Ltd.. registered as a private company, April 2. Office: Heretaunga Street. Hastings. Capital: ££CCO, into SCCO shares of £1 each. Subscribers: H. G. Mortensen. 1500; IL G.. Mortenseu and J. P. Gore-Martin, jointly. 925: J. V. Gore-Mar-tin, 1500: T. C. Gore-Martin. 500; A. C. Mortensen, 500; D. E. Davis, 25; N. R. Wellwood, 25; W. J. Douglas, 25. Objects: To carry on business as goldsmiths, silversmiths, jewellers, etc. Waidoi Rubber Plantations. Ltd., registered as a private company. May 1. Office: Herscheil Street, Nauier. Capital: £<IO,OCO, into 40 shares of £1000 each. Subscribers: T. E. Orosse. 15; C. D. Kennedy, 15; E. F. Powell. 8; E. Gilberteon, 1; D. A. T. Crosse, 1. Objects": To canry on the business of planters, cultivators, dealers, etc., in coconut 5 . sa?o. rubber, etc. Samuel Sigall. Ltd., registered as a prirat n company, May 2. Office: Featherston Mid Prnajnn Streets, Wellington. Capital: £2030. into 1000 shares of £1 cach f.p.u.. and 1000 con. shares. Subscribers: S., Sigall 500 f.p.u. and SCO coll.; E. Sigall, SCO fp'u. and 500 con. Objects: To acquire the business of fancy goods dealers, cigarette manufacturers and importers carried on by Samuel and Elizabeth '.Sigall, at Wellington.

LONDON WOOL SALES. By Telegraph—Press Association-Copyright. London? May 7. The wool - sales closed_ .strong, .at the highest priccs of the series. (Rcc. May 8, 9.15 p.m.) London, Hay 3. The wool salep hove closed. \ total of.. 147,000 lyi'es were catalogued. Of these 93,000 were sold for the Home market: 45,0C0- for the Continent, and a thousand for the United States. The tone of the market was steady and confident. throughout. All sections of buyers supported merinos. Yorkshire manufacturers were tho principal operators for rropsbrcds. Continental buyers supporting them towards the close. The prices of merinos trenerally closed <it par with Jlarc.li closing ratce. Wastv pareels were somewhat slow of sale, but for best, sorts there was ail occasionally hardening tendency. Ifew Zealand greasies showed a- penny dccline. Scoureds met a strong market-, especially for pieces and locks, which advanced from five to seven and a hnlf- per cent. fine greasy crossbreed generally sold at from par tn five per cent., decline. Coir=er eraries met. a. strong demand :\t par to five per cent-, advance: (dipes advanced a. half-nenn.v to a penny; merino la nib 4 were fully maintained. Out cro:--=-bred lambs, especially faulties, barely maintained late values. The fallowing prnw were realised fur the fleece portions of tho clips named: - "Kveburg." U'P price IMd., overage iei,;. : "l'onparai," lid. and 103 d. PRIVATE DEPORTS. The Rank n[ New Zealand has rsceivrrf the followinc cible ndvi™ fr?m i<-s London office, tinted Hoy 7:-"Tlie sales hove

closed very firm, and prospects aro good. Total quantity helrl over is EO.GCO bales, of which 25,000 aro Now Zealand. The Department, of Agriculture, Industrie-, nnd Commerce ha*» received the following rablegmii) from the High Commissioner for New Zealand, dated London, May 7. regarding the closing of the third series oT colonial wool k;i!c?: —"The market has hern irregular, but. clni-ed firm. Holders aro confident. There has been a continuance of high prices. Superior and medium merino* unchanged at- opening rates; inferior slightly lower; fine crof-sbmls and medium etw.breds virtually unchanged; ■ coarse crossbred* slightly dearer; 24.3C0 , hales of New Zealand wool are held over, i Intimated value:—Superior merinos, Is. l£d. to K sjd. per lb.: medium, lid. to Is, Id. per lb.; inferior, Bjd. to IOJd. per lb.; fin© Is. Id. to Is. 3d. per Jb.; medium cro.-shreds, lOd. 1o Is. prT il).; coarse ero-vbreds, 9Jd. lo Is. per lb. Messrs. Dalgety and Co., Ltd., Wellington. have received cabled advice from Mieir London office, dated May 7, as under: "The wool .'ales closed very firm, with au occasional improvement, on the opening ra.tcs. As compared with tho lost pole's .■rates at Hoeing, crossbred wools, fine quality, price*) are lower; medium crossbred wools suitablo for America., prices rather lower; coarse crossbred, prices are rather higher: sliped crossbred, prices higher; scoured crossbred, prices unchanged; lambs' wool, priced unchanged. The total urst quantity available amounted to 187,000 i bales; 1000 bales were sold to America, 193,000 for' Home consumption, and 45.0C0 j bales to the Continent, leaving 48,000 bales j carried forward." The New Zealand' Loan and Mercantile Agency Company, Lid,, has received tho following cablegram from its London house, under date May 7:—"London Wool Sales: 138,000 bales of wool were sold at tho wool sales, of which 45,CC0 bales were taken fr tho Continent and ICCO for America; 49,000 bales were held over. The Kales closed strong. As compared with last.pale'/?, closing rates, prices are higher b>; about par to 5 per . cent, for scoured merino, inferior and coarse, and medium crossbred elipe, and lower by about par to 5 per cent, for greasy merino, inferior and lino and medium greasy crossbred." Messrs. Murray. Roberts, and Co., Ltd., have received the following cablegram, elated May 7, from their London friends, Messrs. Sanderson-, Murray and Go.:—"Lon* don Wool Sales: Sales have closed firm, 49.C00 bales being held over. Compared with last London sales' closing rates, scoured merino, faulty, and inferior, advanced 5 per cent.; greaev merino, inferior, declined 5 per cent. Other descriptions merino market shows no material change. Crossbred greasy fine declined 5 per cent.; crossbred greasy, medium arket, shows no material change; crossbred greasy coarse, par to 5 per cent, advance. For- other descriptions of crossbred, market shows no material change. Messrs. Abraham and Williams, Ltd., have received the following cablegram from Loudon, under date May 7:—"The sales have closed with a firm market, and prospects are good. There is no demand from American houses. As compared with the closing rates of last series, prices for merinos are unchanged with a steady demand. Fine crossbred shows a decline bf 5 per cent., medium crossbred firm at l\ per cent, decline, while coarse crossbred rules very firm at an advance of from par to 5 per cent."

LONDON" MARKETS. Tlie New Zealard Loan and Mercantile Agency Company has received the following cablergram fom its London office:— "W.hcat: We have sold an Australian cargo at 385., c.i.f. There jis very little demand owin-jf to Continental political situation, and the market is likely to decline. AVe quote, per quarter, c.i.f.. New Zealand wheat, long-berried 376., short-berried 365. Gd." WHEAT. Bj- Telegraph—Press Afisociation—Copyright London, May 7. The American visible supply of wheat is 81,574,000 bushels. TALLOW. London, May 7. At the tallow pales 1301 casks were offered and 834 nold. Prices roalised:—Mutton, fine 395. 6d., medium 345.; beef, fine 38s;, medium 345. SILVER. London, May 7. Ear silver i.s quoted at 27 U-16d. .per ounce standard. RABBITSKINS. (Rec; May 8, 9.15 p.m.) Sydney, May 8. Anning's report, of the sale*; fifcata? that 1500 bundles were ofl'cred ond about 1300 were sold. Prices for New Zealand, thin-pelted winter. are unchanged: .stout are Jd. dearer; cutting sorts aro firm; light racks are iinchonzerl; kittens arc irregular and lid. cheaper. AUSTRALIAN PRODUCE MARKETS. (Rec. May 8, 9.30 p.m.) Sydney, May 8. Wheat is quoted at 2*5. 9d. Flour, £8 15s. Oats, Algerian feeding, 2s. 6d. to 2c?. Bd.; milling, 2s. lCd. to 35.: Kparrowbills, ?s. lid.; Giants, 3s. Id. Barley, Cape feedinu, 3s. lOd. to 4s. Maize, 3s. Bd. to 3s. lOd. Bran and pollard, £4 10s. Potatoes, Tasmn.niano, £5 10s. to £7 10s. Onion?, Victorians, £8; New Zealand, £7. Butter, selected brands, 945.; eood, FB3. to 9Cte. Cheese, 7Jd. Bacon, 6id. to 7d. Adelaide, May 8. Wheat. 3s. Bd. to 3s. Bid. Flour. £9. Bran and poUard, Is. Id. MELBOURNE HIDES MARKET. . (Rec. May 8, 9.30 p.m.) ' Melbourne, May 8. Hides were in fair supplies, and thero was active competition. Prices were firm.