COMMERCIAL ITEMS.

Dominion, Volume 6, Issue 1757, 23 May 1913, Page 8

COMMERCIAL ITEMS.

INVESTMENT SHARES. There were no transactions recorded yesterday. There Were quite a. number of buying orders, but sellers were apparently scarce. The quotations were as under:— Buvers. Sellers. £ s. d. £ a d. National Bank (new) .... 4 19 0 — Well. Trust- and Loan ... 7 2 6 —' Christcluivch Gas 7 7 6 — Wellington Gas (£10) 15 18 0 — N.Z. Insurance 5 10 — S.B. Insurance 313 9 — Christchurdi Meat 15 5 0 — Gear Jleat (£1 paid) 3 2 6 — Heat liiport (525. 6d.) 2 19 0 — Union Steam 2 3 0 2 3 3 Mosuicl Woollen — 3 12 0 Well. Woollen (prcf.) ... — 216 0 West-port Coal — 18 0 Golden Bay Cement — 10 3 Manning and Co 4 10 — Ward and Co 4 19 0 — W.G.C.A. (205.) - 18 6 AUSTRALIAN MEAT FOE AMEIIIOA. Tho "Financial Times" of April 11 eivos tho following information:— Australian Government. Commissioners at San I«'roncisco confirm the statement that Australian beef, mutton, pork, and butter will in a few weeks flood the uiarkete of > Sail rrancieco and other American cities and lower tho present Jiigli prices of meat to the consumer. ' Tho union Steam Ship Company has announced that an order lias just been placed in England for the construction of four laigc refrigerator carriers, which are to do usoil for transporting frozen meats from Aus- 1 tralia to San Francisco. Louis Schweitzer,: of Schweitzer and Co., of San Francisco,, who for years has fought tho American 1 Beef Trust, and has always dealt inde- I pcndently, is notf in Australia, and at I Syduey ha-s closcd a contract for all tho ! availablo refrigerating space on the three | luicrs of the "Union Company now operating* to San Francisco. Tho etcamship owners have secured guarantees from Schweitzer for largo orders pufficient to test tho refrigerating capacity of tho present fleet § of steamships.. Schweitzer expects to bring to San Francisco millions °f pounds of meats, especially mutton, which is to bo supplied not only to locaJ customers, but also to maay other parts of California.

Espcctine at least a lowering of tho nreeent _ tariff on _ meats admitted into America, the Swift and Armour interests are n-ow preparing for tho construction of a huge slaughterhouse and frec7ing plant at Brisbane, Queensland, from which they will ship to the States thoutanas of frozen Bliecp, hogs, and cattlo weekly. Tho American companies will also handle. Australian butter, which at the present lias been debarred from tho American market through tho presence of Doric acid as a preservative. Apparently the acid will bo. omitt-ed in future, and freezing alone depended on for preserving. According to Mr. D. E. Quinn. now New •jouth wales Commissioner for tho United States, hundreds of cattlo breeders of Texas and othpr Southern end Western States havo signified their intention of going to Northern Australia, and going into tho cattle business upon a, bigger sealo than, ever before attempted. Already concessions have been arranged for tho Joking over of va6t portions of more than 1,000,W0 efluo.ro miles of virgin, territory, which is adapted to the ra-ising of millions of sheep and cattle annually, To prevent, the possibility of the Meat Trust taJiing over the vast production of , merits and butter of Australia, and charging tho consumer high prices and paying, the producer low prices, t.ho Commonwealth is arranging to toko charge of the slaughtering, freezing, and solo of thci?o products upon a national scope, and keap pricej upon an even basis. . The largest killing, freezing, and packing plant in tho world will soon bo in oourse of construction at one of tho soaports of Northern Aaistro.Ma, ih. which Bheep. hogs, and cattlo will be handled for the markets of tho world. "All of this is made possible on 'account of a recent ruling issued from Washington." said Mr. Quinn. "Tho United States Department of Agriculture has decided that tho inspection stomp 'placed upon meats by tho Australia -may bo admitted into the United States. The effect of this lias proved quite satisfactory, for we have learned that tho American meateaters are ready and anxious to nuTchaso tho meats of Australia. Australia lis feeding the American soldiers in tho Philippine.? and Hawaii. Thero has hcen no cry of tainted meats from thin supnly, at that. The Government ha« a- contract with the Oceanic Lino to uso its entiro refrigerating space to transport, mcat-i from Sydney to Honolulu for tlio next eighteen months."

STOTIVGiLDING BOOM. A further record in shipbuilding •is shown by Lloyd's returns for tho quaTter ended March 31. The figures for the last quarter of 1912 were the largest ever recorded up to that time, hut tho present returns ehow an increaso of 21 vessels and 84,M0 tons over those figures, thereby constituting a fresh record in, tho annals of the industry. The tonnage now under construction is stated to be somo 2,063.700 tons, and the number of vessels constructing 563. This compares with M 2 vessels and 1,970,1C0 tons for tlio previous quarter and 545 vessels and 1,686,900 tons for tho corresponding poriod last year. An indication of the great expansion of pros eerily which tho shipbuilding industry is and . has for somo time pa6t been, experiencing 16 provided in tho fact that since June, 1909, continuous quarterly increases havo taken place, while, as compared with tho figures for that month, an improvement of no fewer than 1,318,000 tons is revealed. Of tho principal districts where vessels .aro (it- present under construction, Glasgow heads the list with a total of 126 vossele of'a gross tonnage of 497,200 tons, or an increase on the previous quarter's figures of 12 vessels and 29,900 tons. With tho exception of Middlesbrough and Stockton, all the chief shipbuilding centres have a greater. number of vessels and a larger tonnage under construction nt the present time than at the end of last quarter, and in tlio case of tho exception mentioned the tonn.age on the stocks i« only a few tons less than at the end of the December quarter.

EXPORTS OF PRODUCE. Tho values of tho principal producfa exported during t.ho first half of tlio current month, compared with the figures for the corresponding period of last year, show as under:— May, 1913. May, 1912. £ £ Butter 14,261 16,452 Cheeea 103,101 45,886 Beef 28,826 33,158 Mutton— Carcasses 90,420 128,167 Legs and pieces ... 1,407 5,342 Lamb 224,477 224,400 Wheat 24 3,443 Oats 1,305 45,099 Potatoes 483 1.323 Hemp 38,660 41,835 Habbits 758 — Tow 3.835 3.3^0 Kauri igum 3,241 34.719 Grain 'and pulse .... 6.250 10,806 Fops 2.932 6,407 Hides 9.242 7.EC4 Skins 50.284 72.763 Tallow : 44.320 90,983 Timber 12.486 21.695 Wool 276.395 477.530 Gold 79.101 68,310 991,808 1,337.462

COMPANIES REGISTERED. In tho liot of companies registered, published in this week's "Ifcrca.u tiio Gazette," there appear tho following:— Manners Street Land Sjudicate, Ltd. liegistrated as a private company May 15. Office— Customhouse Quay. Wellington. Capital—£sooo divided into 5000 f.p.u. shares of £1 each. Subscribers—A. S. Bias, 769: 31. Chapman, 1538; L. 0. IT. Tripp, 769: R. T. Eadbain, 769; .T. If. R. Heath, 3CB; W. Ferguson. 769. Objects— I To adopt and carry into effect an agreement between A. S. Bfcs, E. T. BadlKi.ni, L. O. If." Tripp, W. Icrtriison. and J. H. R. Hca.th, and H. Lawson, a.s trustee for tho company, and to mucluiso land and deal in the eame.

Swastika North Gold Mines, Ltd. Registered May 16. Office—Panama Street, Wellington. Capital— <£1440, divided into 1440 shares, of £1 each. Shbscribers—W. 11. Turnbull, £0; J. Lush, 20; ,T. Keir, 40; J. A. Tripe, 20; A. E. Hugh, ICO; V. n. ■ Baker 20; 11. P. Hanify. 40. Ohjects-To acquire the prospecting licence held by P. R Miniro, of Westyort, accountant, in respect of an area of 93 ncres near Mokihiutii. and to carry inlo ell'eot a certain agreement of May 7, 1913. Customs duties rollected .at. tho port of Wellington yesterday amounted to £1691 19-. 6d. . N.JS. DRUG /COMPANT SIIARER. (By Telegraph.—Prcfis At^odation.) Duncdln, Jfav 22. ileum. Keniplhorne. 7'ro.*;or mid' Co.'? New Zealand Drug Co.'s new is«uo of 35.CC0 shores has been over-subscribed. KYDXEV' WOOL SALKS. Hy Tclccraph—Press Association- Copyright Sydney, May 22. At llic wool the m:ii-I;et. showed grcal buayaitcy. Compi'titi'mi was keen. Crwy reiK'ho'l J-VI-, ■>:kI ..nnrnl I!V?d.. tlhighest prici) obtained iu Hyi'.nvy sim-o 1907-3,

AUSTRALIAN PRODUOK SIAKKETK. (lire. 31 ay 22, 9.5 y.m.) Sydney, jfay &, Wheat is quoted at 3p. Bd. to Sis. cUd. Flour, £8 15s. Oaf.s, Alsronun feeding, Cel. tu 2«. 8(1.; milling, 2s. lCrl. to 2i. lid.; .Stiarrowbills, 2s. lid.; Giants, lid. t.o 3s. Barley, Cape, 3s. lOd. to 4s. Maize, 3s. 9:1. to <fe. Bran and pollard. £4 10s. l'olatoes, Taemonians, £6 IDs. to £7 10s. Onion.-. £7 to £7 55.; pieklers, £5. Butter, selected, 945.; clioice, CO-, to 9Cs. Cheese, 7tl. to 7£d. 11 a con, 6Jil. to 7d. Adelaide, May 22. Wlieat, 3«. 7d. to 3s. 81(1. Flour, £8 ss. to £8 7s. 6d. Bran and pollard, Ik. niDES. (Rec. May 22, 9.5 p.m.) Melbourne, Mny 22. Hides are firm, and rates are unchanged. LONDON MARKETS. The Kew Zealand Loan and Mercantile Agency Company, Ltd., have received tho following cablegram from their London house, under date 3la.v 21:— Wheat.—Wo have sold at 375. 7^1., c.i.f., an Australian.cargo. The market, is quiet, but fteady, dwing to increased supplies, and is not likely to improve at present. Wo ouotc per quarter, c.i.f. Now Zealand wheat, long-berried 3&s„ short-berried 355. 6d. Outs.—Wo (juoto Gortons, 235. 3d.; Sparrowbills, 235. The demand is restricted. Tallow—Wo quote present spot values for tho following descriptions;— Good mutton, 355. 9d. per cv;t.; good beef, 355. 3d. per cwt.; mixed, 335. 6d. per cwt. Tho market is firm.

WHEAT. Br Tcltcraoli—Preßs Association—CoDrricht London, May 21. The American visible supply of wheat i 6 74,175,000 bushels. London, Hay 21. Ofiioial quotations for wheat;— South Australian, New South Wales, and Victorian, unchanged. Livorpoo) fixtures, 91 rents; on passage, 88Jd. TALLOW. London, May 21. At the tallow sale-s 2280 c.ap];s were offered and 1523 sold. Prices realised;— Mutton, fine 395. 6d., medium 345. 6d.; beef, fine 3fc., medium 345. SILVEE. London, Hay 21. Bar silver Is quoted at ,27 15-lGd. per ounce standard. • ■ LINSEED OIL AND TURPENTINE. Linseed oil is at £24 ss. per ton, and turpentine at 28s. 9d. per c7.-t. WRIGHT/STEPHENSON & CO, ANNUAL MEETING. ■ (By Telegraph.—Press Association.) Duncdin, May 22. Tho seventh annual meeting of tjie shareholders in tlie firm of JlcFers. Writrht, Stephenson, and Co. Iras held to-dcy. Tho profits for the year were £31,211 14g. 6d., which, added to tho amount carried forward last year, gave a total of £-48,720 75. 9d. for disposal. A dividend of 7 per cent, was declared, £7500 was add?d to tho reserve fund, makinpf it £32,500, and £20.605 18s. 3d. was carried forward. The retiring director, Mr. J. A. Johnstone, was reelected, -and the following additions wcro mode to tho board:—Messrs. D. Allan /Duncdin), P. 0. Gray (Gore), J. T. Martin. (Chriistclmrch), and J. T. F. Mitchell (Invcrcargill).