COMMERCIAL ITEMS.

Dominion, Volume 6, Issue 1804, 17 July 1913, Page 10

COMMERCIAL ITEMS.

INVESTMENT SHARES. Thorc woro no transactions in investment shares yesterday. Tho quotations were as under:— Buyer* Sellers. £ s. d. £ m. d. Bank New Zealand — 10 17 6 National Hank (old) 5 4 0 — National Bank (new) ... 5 1 0 — ' N.Z. Loan, Mercantile -0 10 — N.Z. and River Plate 1 19 9 — Well. Investment 0,1110 0 12 0 Well. Trust and Loan ... 7 1 0 — Napier Gae (£5) 8 0 0 — ■Well. Gas (£10) .; 16 4 0 - Well. Gas (pref.) — 10 0 National Insurance 2 4 6 — N.Z. Insurance 5 6 6 — Standard Insurance 110 9 — Christchurch Meat .; 15 3 6 -jGear Meat (£4) 12 7 6 — Gear Meat (£1) 3 4 0 — Ifoat Export (525. 6d.) ... 3' 0 0 3 5 0 N.Z. Shipping 16 0 0 — Union Steam — ' 2 4 0 Taupiri Coal 110 — Westport Goal 17 6 Loyland-O'Brien ......... — 13 6 Golden Bay Cement - 10 0 Manning andi Co 4 2 6 — Slia.rland's -preference ... — 119 Ward and (to — 5 4 0 W.F.O.A. (£5) - 7 2 6 W.F.O.A. (£1) - 10 3

WELLINGTON INVESTMENT CO. Tho balance-sheet of the Wellington Investment Trustee and Agency Company, Limited, for tho year ended Juno 30 last is available. The net incomo totalled £14,233 9s. 2d., and the expenses amounted'to £9235 Is. 10d., leaving the net profit at £4998 4s. 4d„ as against £4991 Is. 4d. in the previous year, eo that the earning power of tho company has been well maintained. To the net profit of £4998 4s. 4d. must be added £306 9s. lOd. brought forward from the previous year, making available £5304 14s. 2d. Out of this £21 7s. has been written off offlcc furniture and fittings, £1500 lias been added to the reserve fund, which will now stand, at £12,750, the dividend ond bonus together amounting to 7 per cent, absorb £3500, leaving to be carried forward £283 7s. 2d. Tho principal items of the balance-sheet compare as under:—

1913. 1912. £ £ Capital 50,000 50.CC0 Deposits and interest 165,956 174,644 Band overdraft 730 — Mortgages 183,620 183,363 Interest, etc., due ... 545 731 Interest, etc., accrued 1,851 1,809 Properties 40,686 40,686 Debentures 23,077 22,939 Cash in hand 164 26 Bank cr. balance — 4,197 THE WOOL TRADE. review of the wool tra.de is Invariably complete and accurate, ond fully merit 6 the-attention, it attracts. The statistics are exceedingly interesting. The statistics of the wool exported during tho past two seasons from Australasia compare as under 1911-12. 1912-13. Bales. Dales. N.S. Wales 1,036.767 851.000 Victoria 365,375 SOI.C.CO Queensland 349.561 320 XOO S. Australia 153.079 140,4E6 W. Australia' 80,765 72.C00 Tasmania, 35.CC-0 34,000 Australia 2,020,547 1,718,386 New Zealand 517,320 528,779

2.537,867 2.247.Z6E This shows a- decrease • of 290,602 hales. Dividing the number of sheep ehoru into the net- weight of wool produced, including that used for manufacturing in Australasia, ill all 749.997,2911b., it-will be seen that the overage weight of wool produced, including lambs, works out at 71b. per luo.tl which compares with 7.461b. in 1911-12, and 71b. 4oz. fon the two preceding years, The all-round price Of wool &hoivs a. substantial increase as compared with the previous year, being 10.21 d. aa against 8.53 d., and the average monetary Teturn per head of sheep and lambs lia.s been ss. 83d., as compared with ss. Ol|d. in 1911-12, fe. sd. for 1910-11, and ss. lCd. for 1909-10. On the basis that, the wool exported realised the fame value to Australasia as at the local sales, the total value exported was £30,684,531, against £29,591,874 in 1911-12 and £31,558,936 in 1910-11. THE WOOL OUTLOOK. As regards the outlook Dalgety and Co write:—With the general trade of the world active and every prospect of remaining go, there should bo a strong consumptive demand for wool during the coming year Labour is well employed at better wages! the world's wool requirements continue to increase, while there will be a great shortage of wool in manufacturing centres before the end of the present calendar year and only moderate supplies for 1914. Wool will very shortly be admitted into the United States of America duty free, and it will not bo very long before that groat word-using nation will require a. very largo proportion of Australasia's clip. Owing to great financial stringency in the United States it is quite possible'that they will not- take a great amount of wool from Australia during the coining seasonbut tlicy are so .short of stocks that they must purchase some, and Inter on thev will require a large quantity. If only th'n trouble in the Balkan St-atro could bo satisfactorily settled, the financial position which is-at present cramped, would no doubt improve, as would general trade, and a demand for wool would set in which will prevent the slight increase in supplies, which is assured, from having the slWitcft- effect upon the market. Producers can look forward with confidence to a. better ve i.r than the pa=t. Tor all t.h© primorv products aro likely to risaiidu poyalih .prias.

LONDON WOOL SALES. By Telegraph—Press Association—Copyright London, July 15. The wool sales have closed. Prices wero unchanged. There were only email offerings of Australian- and New Zealand wools, (lice. July 16, 10.15 p.m.) London, July 16. For tlio wool sales, 106,000 oales were catalogued; 65,000 wero sold to tlie Home mai-Kct, <I,OC'J t-o the Continent, and 2300 to America; 65,000 baled were held over. The market showed great irregularity as regard,? slipes and medium crossbrcds, but there was a- steady and consistent demand for merinoii and coart-e crossbrcds, with occasionally an upward tendency for good ecoured shafts' merinos, as compared with the May series. The tendency for faulty short wools haa been in the buyers' favour. New Zealand scourodß advanced 5 per cent. There were largo withdrawals of fln-u and medium crossbrcds, which declined 5 per cent. Crossbred lambswool declined Jd. Jlerino lambs', small Eupply (good lots), sold at fancy prices. With the merinos, a small supply of good lots 6o)d at. fancy prices. The following prices were realised for lleecc portion of the clips names :■*- "Wintrriilce," top price lid.; average, lOjd.; "Amarama," top, Hid.; average, 10 3-Gd. The Hank of New Zealand line received the following cable advice from its London office, dated July 15;—" Current prices for North Island farmers' lots in "average condition: Coarse crossbred, 35-10's quality, 101 d. to lid. per lb.; medium crossbred, 4446's quality, 103 d. to llid. per lb.; fine crossbred, 50's quality, 12d. to 13d. per lb. Current priccs for South Island farmers' lots (Canterbury tstyle), in avera-go condition : Inferior merinos, common 60-64's quality, 9Jd. to lOd. per lb.; superior merinos, super 60-64's quality, IZJd. to 13(d. per lb.; half or quartcr-brod, 55's quality, 12id. to 13Jd. per lb. Total quantity held over, 64,000 balos, of which 40,C00 aro New Zealand." Messrs. Dalget-y and Company, Limited," have been advised by cablegram from their London house, dated July 15, of tho following information ,in regard to the close of tile July series of cales;—"Tho sales closed with fairly animated competition, but lately-reported rates aro hardly maintained except merino wools of good quality and condition where any change is in sellers' , favour. Merino 6hort and wasty wools, 5 per cent, lower; inferior and faulty scoured, 5 per rent, lower; crossbred wools, fine and medium quality, 5 per cent, lower; coarse good style, light and clean, -unchanged. Coarse, dingy and cotted, 5 per cent-, lower; croeebred ecoured, 5 per cent, lower; crossbred sllpcs, 5 per cent, lower; lambs, unchanged. The above comparison, is made wdth the closing rates of the last series. The net quantity of wool available amounted to 176,000 bales. Thero wero sold to America 2000 bales; taken for Home consumption, 68,000 bales; bought for the Continent, 41,000 bales; and carried forward, 65,000 bale*?."

The Kew Zealand Loan and Mercantile Agency Company, Limited, have received the following cablegram from their Lrnsdon honee, under date July 15:-Tho sales closed with good competition; 106,000 bales of wool were sold, 41,000 of which were taken for the. Continent and 2000 for America; 65,000 bales were held over. Quotations aro unchanged since last advices. Messrs. Levin and Co.'s London agents cable that the sales closed with good wools firm, whereas faulty wools were weak and irregular. Tlio following clips havfl "been sold. The prices named being tho average prico realised for tlio fleece wool in each instance:—"Ail," Wangonui, 9 15-16 d.: ,"CTll over WAITAWJIITI," Tenui, 101-16 d.: "DC over GLEXDIIU." Eotrt Coast, 10Jd. Messrs. Murray, Roberts, and Co., Ltd., have received a cablegram from their London friends, Messrs. Sanderson, Murray, and Co., under date July 15, as follows "Wool sales have closed, with rates unchanged; 65,000 bales held over." ' FINANCIAL CABLEGRAMS. By TilcgrapU-Presa Association—Copyright London, July 15. Yesterday's closing quotations were as follow Bank of Australasia, buyers £115, sellers £117. Bank of New South Wales, buyers £37, sellers £40. Bank of Victoria, buyers £4, Eellers £4 10s. Union Bank of Australia, buyers £52, sellors £54. National Bank of Australasia, buyers £5, sellers £5 10s. National Bank of New Zealand, buyers £4 153., sellers £5 10a. ' Bank of New Zealand, buyers £10 10s., sellers £11 10s. N.Z. Loan and Mercantile Agency 4 per cent, debentures, £94105. City of Melbourne, 4 per cent, debentures, £98. Melbourne Harbour Trust, 4 per cent, dcSenturea, £96. Melbourne Tramway Trust, 4J per cent debentures, £100. Melbourne and■ Metropolitan Board ot Works, :4 per cont. debantures, £95. Australian Mercantile debentures, £90. Dalgcty aad Co., 4 per cent, debentures, £91. Dal sety and Co.'s shares, buyers £6, sellers £6 10s. Melbourne Gas Co 'a debentures, £99. City of Sydney, £99. Goldsbrough. Mart and Oo.'s debenture!, £96 1C«. COLONIAL SUGAR COMPANY. INCREASE OF CAPITAL. By Telegraph—Press Association—Copyright (Rec. July 16, 9.30 p.m.) Sydney, July 16. At the special meeting of the shareholders of tile Colonial Sugar Refining Company, it was decided to increase the capital of the company from three to four millions, by an issue of 50,000 new £20 shares. Before this resolution, can be acted upon another special meeting will bo required to formally confirm tho decision of the previous meeting. WHEAT. (Rec. July 16, 10.15 p.m.) London, July 16. The wheat market is quiet; 375. ia askod for Australian off the coast. The American visible supply of wheat cast of tlio Rockies is .47,253,000 bushels. METAL MARKETS. * (Rec. July-16, 10.15 p.m.) London, July 16. Copper—On spot, £62 7s. Bd. per ton; three months, £62 10s. Electrolytic, £65 10s. Tin—On spot, £181 ss. per ton; three months, £182. Lead, £20 per ton.

ROBERT CAMPBELL AND CO. (Rec. July 16, 10.15 p.m.) London, July !6. The firm of Robert Campbell and Company has declared an Interim dividend of one shilling. FRANCE'S TRADE. (Sydney "Sun" Special—July 16/7.20 p.m.) Paris, July 16. Trade returns for the half-year show an increase of £6,105,560.