COMMERCIAL ITEMS.

Dominion, Volume 6, Issue 1814, 29 July 1913, Page 8

COMMERCIAL ITEMS.

INVESTMENT SHARES. There were no transactions in investment shares yesterday. Tho quotations were as under:— Buyers. 6ollctg. £ s. d. £ b. d. Bank New Zealand — 10 7 6 National Bank (old)< 5 1 0 5 3 6 Union Bank (rights) — 6 5 0 Metropolitan Huilding ... — 12 7 6 N.Z. Local and Merc 0 10 4 — N.Z. and River Plato 2 0 0 — Chrtetchurch Gae — 710 0 Christchurcli Moat. 15 3 6 — Meat Export (525. 6d.) . 3 10 — Well. Woollen (prof.) 2 15 0 - Ooldon Bay Cement — 10 0 Sha,Hand's preference ... — 119 Ward and Co 5 3 0 — W.F.C.A. (£1) - 18 3 GERMAN TRADE BOOM ENDED. Reports received from tho machinery manufacturing centres of Germany acree that the trade boom, which apparently liad passed its maximum point, has not yielded very handsome profits to 4 producers, although the general impression outside the industry was that because of the activity big profits were being reaped. There was no lack of orders, as v.*as made known by the delay in their execution which frequently occurred, but which in a nrcat measure aroso from the difficulty experienced by manufacturers in obtaining raw material. Selling prires. however, advanced much more slowly than did prolineinp costsj the latter touching exerjjtion:il levels owing to the hieh nites rulintr f«>r tnetiiU. and also tho Lucreasiid cn*t of lab'oar. CoßsotlUw, mqreojer. became ycrjr

keen, plants liaving been increased, and Keveral new uiulcruiltines sot up. The demand lor electrical machinery was main, tallied at a high pitch, and that particular branch of tho business continued to show progress. It was not expected tlint any serious restriction of trade in machinery with America, would be immediately noticeable, although thero was a slackening of orders from that direction. This, however was believed to be occasioned by tho (learnesa of money more than by any other cAuee, and, despite this feature, latest reports state that most of the German engineering firms have on their books sufllcient work to keep theft- stall's fully occupied for the next few months. With a view to avoiding competition of a character that threatened the extinction of reasonable profits, tho producers a few weeks ago initiated negotiations for an understanding. tho outcome of which is not yet known.

ARGENTINE MEAT COMPANIES. About two years ago the seven meat freezing companies operating in Argentina arrived at an understanding with resard to tho limitation of tho exports of chilled beef from the republic. Early in April last one of theso concerns intimated its desire to increase its shipments, but this tho other companies declined to sanction, and the agreement of 1911 was not renewed. Commenting on the position of tne freezing companicp, tho "ltevijw of the River Plate" states that tho group comprised two Argentina, threo English, and two other companies which, although registered in Argentina, are believed to belong to American firms which form part of the Beef Trust. The "last-mentioned pair—tho La Plata Cold Storage and the fca .Blanco.—have considerably increased their capacity during the last two years, and consequently sought release from the "agreement." Immediately on the termination of tho "understanding" very heavy shipments of meat were made from Buenos Ayrea. These, it is stated, were fo substantial as to have caused a slight decline in London Quotations, but. without their iniluenco the market in that centre declined about the end of April by about 2d. per lb., which represented a loss of £3 or £4 per animal killed. The companies which had with the Trust drew the attention of the Argentina Government to tho .ieopardy in which they were placed by the movement of tho London market, but the retort of the other concerns was that they had had nothing to do with tho variation in values In that quarter. They offered to submit their books to the authorities for inspection, and on that point the "Review" remarks:— "It will be interesting to know if the inspection will reveal who aro the actual shareholders, and to have information concerning an item which appeared in tho bal-ance-sheet of the La Plata Company, of '£208,300, shares held in other companies.'" In view of the likelihood of the free importation of meat into the United States it is supposed that the American Trust iound it imperative to "freeze out" tho other five companies, and so obtain complete control, of tho industry in Argentina. Prices for stack suitable for the freezer wero a few weeks ago from 50 to 70 per cent, higher than they wero two years earlier in the republic, but there was a lurking suspicion that even that fluctuation might have been worked by the Trust. MORTGAGES REGISTERED. The details given in tho Return H 3, presented by tho Land Transfer and Deeds Registration 'Office, are full of interest. The amounts secured and the amounts paid off during each of the past five years ended March 31, show as under:— Year Amount Amount Total ended secured. paid. off. added. March 3. £ £ £ 1909 ... 14,650,466 7.810,337 6,840.129 1910 ... 13,611,123 8.133,471 5,477.652 1911 ... 16,896,484 11,131,574 5,764,910 1912 ... 19,128,732 12,527.099 6,601,633 1913 ... 18,643,708 10,965,598 7,678,110 The addition during the last year is larger than in any previous year, and is a million more than in 1912. The amounts secured and amounts paid oil during tho yoarended March. 31, 1913, are shown in the tablo appended:— Amount Amount Total secured, paid off. added. r< ;rict. £ . £ £ /•' "'(land 3,591,741 1,366.692 2.225.C59 "anaki 1.470,854 946,812 524.042 Wellington ... 4.370.CC6 2,852,092 1,417.954 Hawkc's Bay 1,715,328 1,138,229 577.099 ■ Poverty 8u.y... 837,035 434,1G2 4C2.933 Nelson 305,C97 167,62 ft . 137,277 Marlborough... 260,784 121,803 138,981 Canterbury ... 3,6:5,8/5 2,280,379 . 1,216,''96 Otago 1,245,504 880,209 365.295 Southland 1,171,982 638,474 533.508 Westland 69,442 29,996 39,446 18,643,709 10,965,598 7,678.110 Tho aggregate of the mortgages on March 31 uf each year of the past seven years aro as under:— Total Year ended mortgages. March 31. £ 1937 59,097,070 1908 65,453,940 1909 72,294,069 1910 77,771,721 1911 83,536,631 1912 90,138,264 1913 97,816,375 In 1906 tho mortgagcv? totalled £53,480,099. so that in seven years there lias been an increase of £44,336,276, canal to an average of £6,333,754. The total amount of tile mortgages onMarch 31, 1913, in each of tho districts is given below:— • Total mortgages. Distrlot. £ Auckland 13,956,235 Taranaki 7,933,808 Wellington 26.570/68 Hawke's Bay 9,690,147 Poverty Bay 3,032,293 Nelson ... 1,790,803 Marlborough 1,307,635 Canterbury 20,626,401 Otago . 5.890,644 Southland 6,667,576 Westland ; 350,365

97,816,375 Of tho above Loi-ai T.ne Itortn lsianu is responsible for .£61.182,951, and the South Island for £36,633,424. Customs duty collected at the port of Wellington yesterday amounted to £1886 6s. 6d. CEMENT CO.: NEW OPERATIONS. (By Telegraph—Press Association.) Dunodin, July 28. The Milbnrn Cement Company has acquired an interest in tho new Adelaide Company, and is now shipping to Adelaide the Buriisldc plant lately purchased. lIIGH COMMISSIONER'S CABLEGRAM. The Dopartmcut of Agriculture, Industries, and Commcrco lias received the following cablegram from the Iligh Commissioner for Nov; Zoaland. dated London.. July 26. (Noto: Quotations, unless . otherwise specified, aro average market prices on spot) :— Mutton.—There is a dull sale for all qualities. Prices have declined !-16d. per lb. for Canterbury; chcaper erxdes arc tmchanKcd. Canterbury. 41d. per lb.; lightweight. 4 5-lGd.: Norl-h Island. 4 3-16 d. Lamb.—There has been a better tone in tho market this week. The decline has been nartially regained. Prices are firmer by l-16d..per lb. for all urar'.cs. Canterbury twos, sd. per lb.; heavy-weight, 4 13-16 d; other than Canterbury, 5 5-16 d. Beef.—The market is steady. New Zealand hinds, 4{d. per lb.: fores. 3£d.; chilled hinds, sd. ner lb.; fores. 31d. Butter.—The market is weaker. Prices ore about tho samo as during last week. Cheese—The market is firm and steady, with a tendency for higher prices. There is no chango in prices. It ia reported that the make of English cheddar is less than usual. Hemp.—The market is Arm. with improved demand. Holders aro not anxious to sell. Business is somewhat restricted owing to tho absence of offers from the Dominion. New Zealand good fair cannot be quoted: fair, per ton. £25. Forward shipment:— New cp land fair, per ton .£25 10s. A trood demand continues from Manila, especially for fine. Tho United States is taking more interest in the market. Fair current Manila, per ton, £30 to £30 10s. for distant. The output, from Manila for the week was 13,000 bales.

Wool.—Tils market remains firm. Tliero is no cliango to report. The Bradford markot is quiet. Continental export trade is very bad. Honey.—Tho market is steady, with a very good demand. .Prices arc firm. The Opava shipment has already been eold at 375. 6d. to 465. per ewt. FROZEN MEAT. By Tclestraph—Presa AsEocintion—Copyrieht London, July 27. The Incorporated Society of Meat ImDortcrs' Smithiield market nuotations for tho undermentioned clase&s of frozen meat aro based on actual sales of not less than one hundred carcasses of mutton or lamb, or twenty-five quarters of beef of fair average quality The auotatious are not for selected lines, but for parcels fah-ly representative of tho bulk of the shipments now on the market. The prices which follow are on tho average a farthing per lb. moro tlian the values ex 6hi'p, this difference representing the average cost in expense, handling, conveyance, and selling the meat July 19. July 26. Mutton— d. d. Canterbury, light 4 3-8 4 5-16 Canterbury, medium 43-8 4 5-16 Canterbury, heavy ...- 4J 41-16 Southland * * : North inland, best 41 45 North Island, ordinary ... 4 3-15 4 3-16 Australian; light 35. 3j Australian. heavy » • Jlivcr Tlate, light * 41-16 llivor Plate, heavy 4J 4J New Zealand ewe 3 33 3:1 Australian ewes 311-16 33 liivcr Plate ewes 311-16 311-16 LambCanterbury, light 511-16 53 Canterbury, medium 5J 5 3-16 Canterbury, heavy 43 413.16 .Southland 5} 5 5-1G North Island, ordinary ... 5) 5 5-16 Nortii Island, selected... 55-16 53-8 Australia", brut " • /•'Australian, fair ' * Auftvali."n, infrrior • • Kiver Pin* ; * ' I film riaw. • 9

Beef — T.evr Zealand, ox lores ... 3J 31 New Zealand, 01 liiiids ... H J; Australian, ox fores 3i 3J Australian, ox liinda 3S Itivcr Plate, frozen foreu 31-16 5 lliver Plate, frozen hinds flj 4A Itiver Plate, chilled fores 3J 3S Itiver Plate, chillcd hinds 51 5 •Kono offcriEi:. WHEAT AND FLOUR. London, July 27. The wheat, market is very quiet, and tendin" - in buyers' favour, witli the fine tlicr and weaker American advances. Tho wheat and flour afloat for the United Kingdom totals 2.805.CC0 auarters; .for tho Continent, 1,640,000: Atlantic shipments, 457,000; Pacific, nil. Tho total shipments to Kuropo during tho week were 985,000 qua»T* ters, including 42,000 from Australasia. ETJBBHR. Fine hard Para'rubber is quoted at Js. 8(1. per lb.