COMMERCIAL ITEMS.

Dominion, Volume 6, Issue 1792, 3 July 1913, Page 10

COMMERCIAL ITEMS.

.. INVESTMENT SHAKES. Sales of investment shares' recorded yes-tei-nay were: National Bank (old), at £5 3s. 6d., and N.Z. Loan and Jleroantilc (10s. paid), at 10a. lOd. The quotations were as underHBuyors, Sellers. £ s. d. £ e. d. National Bank (old) 5 3 0 5 3 6 Metropolitan Building ... — .12 8; 0 N.Z. Loan, Mero. (pref.) 96 10 0 — N.Z. and Eivcr Plat© ... 2 0 0 — Well. Deposit 0 5 6 ■ — Christohurch Gas 7 7 6' — Well.' .Gas (£10) 16 0 0 - Well. Oas (pref.) 0 19 6 10 0 N.Z. Insurance 6 4> ft — Ohristchurch Meat 15 2 6 — Gear Meat (£4) 12 6 0 Meat Export (525. 6d.) 3 0 0 — Union kfceam — 2 4 0 Kaiapoi Woollen (ord.) ... 5 0 ' 0 — Westport CoaJ 17 3 — We^tport-Stockton 0 3 10 — Taringamutu Totara 2 3 9 : — Golden Bay Cement ...... — 100 Sharland's preference ... — 119 Wajd a.nd Co 5 2 0 , — W.i'.O.A. (£1) - 18 3 LONDON WOOL SALES. The London wool sales, whicli commenced on Tuesday evening, have exceeded ; expectations. There is practically no chancre in values as compared with the closing rates for the May series, except for fine wools suitable for America, which are a shade easier.' If this tone ic? maintained throughout tho sales, then it is safe to predict that values will show an advance at tho September' sales. Just ..now the market is struggling with the European and North American clins. and as soon as these are out of the way prices will ascend. There are factors which may operate against ah improvement. The money market is likely to be more stringent than it is now—it generally is in the last four months of the year, owing to the demands for crop movements. Furthermore, owing to the better pmspecta there is certain to be heavy withdrawals from the current sales, which would have the effect of increasing the supply to be offered at the September sales./ However. : allowing for everything, the prospects for tho new clip are very promising, for by the end of tho year .the tariff' question in America.-will be definitely settled, and free wool seems assured. Customs duties collected at the port of Wellington yesterday amounted to £1638 19s. Id. ( FROZEN MEAT MARKET. Messrs. Gilbert, Anderson and Co. (Messrs. Mellsop, Eliott- and Co., local agents), in their circular dated London. Ma.y 23, report as follows':— • The low stocks of lambs have Jieen augmented by the arrival of 344,000 carcasses from New Zealand during the past week. Prices consequently are somewhat lower, and although with plentiful supplies on the water, a further fall is inevitable, prices should, however, rule at a good high level throughout the season. Home-grown Beef.—Scoteh. 63d., 71d.: English, 6 3-Bd., 6|d.; Canadian (London killed), 6§d., 61d. Mutton: Scotch, 7d/, B}d.; English. 7d., Bd.: Dutch, 63d.. 7Jtl. Teirs: Scotch. Bid.. 9Sd.; English. 73d., Bid. Lambs: English, BJd„ 10Ad. Pork, 7d„ Bd. Chilled Beef.—Contrary to general expectations, supplies have been moderate and prices higher. Fores. 3id.: hiijds, 53d. Frozen Beef.—New Zealand fores, 3Sd.: hinds, 4d.; Australian. 31d.: hinds, 3 9-16 d.: South American, 35d..- 4d. Frozen Mutton—South American are short, causing a heiilthy tone all round. Canterbury, unchanged.. 48-56. 43d.: 56-64. 4 3-Bd.: 64-72, 4 1-lSd.; best North Island, 56-64 , 4 3-16 d.; ordinary. 4Sd.; ewes, 32d.; Australian wethers. 30-50. 32d.; ewes. 38d.: South American wethers. .56-72 . 3 13-16 d.: ewes, 33d. Frozen Lambs—Canterbury, 28-36, 6Sd.: 36-2, 6 3-Bd.: 42-56. 6Sd.: host North Islands. 28-42, 6 7-t6d.; ordinary. G 5-16(1.: Australian. 28-36, 6d.; South American, 28-36, 53d.; 36-32. sgd. LONDON WOOL SALES.' By Telegraph— Association—Copyright (Hec. July 2. 6.40 n.m.). London, July 1. The wool sales opened with good com'petition. There was no quotable change in values. . PRIVATE CABLED REPORTS. . Messrs. Dalgety and Company, Ltd., Wellington. have been advised by their London office by cable under date July 1. as follows:—"Wool sales have'opened with a large attendance of buyers.' As compared with the closing rates of last series, fine and medium greasy crossbrod wools, change if any is in buyers' favour, and the market is easier for medium crossbred scoured wools." Messvs. Murray, Roberts and Company. Ltd., have this day (Wednesday) received the following cablegram, dated Jply 1, from their London friends. Messrs. Sanderson, Murray and Co.:—"Wool sales: July scries—Merino, poor selection offered, not sufficient to test the market. ' Crossbred 'greasy market shows no change, crossbred. slipe and scoured, market declined a shade." The Bank of New Zealand has received the following cablegram from its London office, dated July I:—"The sales have opened with strong competition, and a large attendance of buyers. Total net quantity of New Zealand wool available is 100,000 bales. Compared with the close of last sales, priccs for all descriptions arc practically unchanged." Messrs. W. and G. Turnbull and Co., Ltd.. report having received the following cable advices from their London ngents, ur ier dntc iTulv ii— "Wool sales opened, fiuc and medium, pur to 25 per cent, low: coarse, unchanged."

The New Zealand Loan and. Mercantile Agency 'Co., Ltd.; has received the followingr cablegram from their London house, under date July I:—London wool tales: Thero was a full'attendance at the opening of the sales to-day, competition bv Homo and Continental buvere rood, and prices, as compared with tlio closo of preceding seric?, ruled par to 5 per cont. lower for crossbred slipc, ecoured, croßß-. bred, fine greasy crossbred, and medium greasy crossbred, crossbred lambs, coarse greasy crossbred, and merino ruled'about the same as at the close of previous series. The opening catalogues were fairly reore* sentative. America is not operating. The United Farmers' Co operative Association, Ltd., has received the followine cablegram from its London agents, under date July 1:—"Tho wool sales opened today, and were well attended'by Home. Continental, and American .buyers. Coarse crossbred showed no quotable change. Fine and medium crcesbred sold at par to 5 per cent, decline, as compared with closing rates of previous. sale." JTcfsrs. Abraham and Williams, Ltd., ho've received the following cablegram from their London agents:—"The wool sales opened to-day before a- large attendance of buyers, and prices, as compared with the closing rates of last series, show a decline from par to 5 cent, down for fine and medium crossbred.. with rather a weak market, while, the pric©3 for. coarse crossbred and merino are .unchanged; and the market firm." ' The Department of Agriculture, Industries, and Commerce has receiye4 the following cablegram from the High Commissicaier for New Zealand, dated London, July 1, regarding the openine of the fourth series of colonial wool sales:—Th? wool eales commenced with good competition, although buyers are cautious, as while manufacturers are busy with old # orders, new business is scarce. The continuance of the Balkan trouble and the consequent tightness of money is depressing trade: 1(9,000 bale 3 of New Zealand wool are catalogued. There is no auotable change in prices from last sale. , SYDNEY WOOL SALES. ■ By Telegraph—Preea Association—Copyright Sydney, July 2. At the wool sales, though there general demand, the market showed some irregularity. Prices were occasionally a shade below those of May, especially for best lines. Greasy broueht 13Jd.;' scoured. 213 d. { J UNION BANK. (Bee. July 2. 6/0 p.m.)London, July 1. The Union Bank of Australia has declared a dividend of 10 per cent., with a bonui? of 2 per cent, added. A sum of £50,000 has been added to the reserve fund, and £40,000 hae been carried forward. SILVER. (Eec. July '2. 6.40 p.m.) , London, July i. Bar silver is quoted at 26 13-16 d. per oz. standard. • . ' BOARD OF TRADE RETURNS. London,* July 1. The Board of Trade returns show that the leveirne for the last auarter .totalled £39,450,892, to which the Customs contributed £8,320,000; excise. £8,321,CCQ; estat-s duties, £7,162,000; and stamps, £2,255,C00.