COMMERCIAL ITEMS.

Dominion, Volume 6, Issue 1855, 15 September 1913, Page 10

COMMERCIAL ITEMS.

INVESTMENT 'SHARES. Tho only transactions in . iivvestmenrt. shares ou Saturday wore sales of Union, Steam at £2 4s. 10id., and two parcolts at 455. The quotations wore as undor

THE BEEF TRUST IN ARGENTINA. The authorities in Argentina 6-eem impressed with, tho necessity for prompt action in regard to Jho operations of tho American licef Trust. Latent mail advices from London state that tho committee of members of tho Argentine Senate appointed to inquire into the conditions of the meat trade - have como to some definite conclusions. They find that certain foreign interests—by which da meant, of cotenre, the United States—are adopting tactics which threaten, to eliminate all competition, 'and to place the entire' industy in the 'hands' of a fow individuals. .With a view to circumventing this scheme, a Bill is to be introduced into the Argentine Parliament for. the prevention of formation. of trusts or otjber organisation? calculated to rcact on the meat trade a-3 a whole. The decision, appears to put an. end to the criois wliich has »been develop' dug ini the Argentine for <rome time past. It will doubtless be Bome time before normal condition's are restored, as many of the English and native-owned companies have already suffered severely. If tho forthcoming'*legislation bo rigorously' enforced, a elitek may be given, to the efforts to capture the trade. 11 ow f«T the American flcef Trust has progressed in this direction may lie gauged by the statements mods recently to. the Minister for Agriculture by meat corcpandse ossicle the combine. They pointed out that unless ■fomethins was d'ono to improve the situation they would be forccd to close their worlds, as it was. iimna' 4 .aiblo for them to continue killing cattle at a loss -to them of £3 to £4 par head. Should these works close down 60(0 m-en; would bo thrown out of employment, and breeders would then find that the price offered them by the two companies remaining at work would be very far below tho high rat-as ruling.

MORE MEAT CiUIRYING STEAMERS. Tho question of installing refrigerating machinery in the cargo steamers of the Mesragerieei JCa-ritimes Company has been discussed betwosni M. Lceat. Administratordclegue of the com-pany, and Si* John Pilter, chairman of tho Australian Committee. According to the circular of the. British Chamber of Commerce in Paris, Sir John Pelter pointed out that the imports of frozen meat into Switzerland alone had now reaohed 10C0 * tons .for the Inst twelve months, not to mention other perishable goods ho-vdng increased, considerably during the last two ycai\3, and it would bo in tho company's. intorest .to , have a storago sorvico with Marseilles, ds tho trade would otherwise go via Genoa. It h hoped that France will, in tho near future, also become a lairge consumer. M. Lecat expressed -himself "willing to give this question of cold storage carcful consideration, and stated that probably • naxt year such accommodation could, be pirovidcd.

MEAT FOE UNITED STATES. A Renter's cablo message from Washington, published in the "Sydney- Horning Harald," states that, in anticipation of a laiso jncre&jo in meal im-porta-liona after tho product - has been placod oil the free list, Dr. Edward Gass, head of the Govon)niaat Laboratory at Portland (Oregon), will sail shorty for Australia and N-fw Zealand to carry out a tour of inspection on behalf 'Of- tho Government' miat puckin® catablislifftent. , „ TRADE UNION BAKE. A correspondent writing to tho London "Bankers' Magazine" makes some interesting remarks in regard to the National Cooperative Bank recently established in London. The projcct came, definitely to tho front tost year -when'labour'disturbances made it difficult for the various trade unions to obtain adra.nccs for financing strike pay. It ii 3 pointed out that inasmuch. A3 the new institution appeals specially to- the trade unions, wihioh havo accumulated funds of £B,COO,CtO, and an annual turnover of £5,000,CC0, it starts under certain advantages. A reasonable proportion of this money. would serve 06 a nucleus, and it will bo supported by many influential men in labour circles. The capital of the bank is £100,000 in £10 bonds, but (taring a period of undvorEal unrest the strain upon ita resources would bo enormous unless help were obtained from othor banking institutions. Another defeot, remarks th® critic, is that interest on ordinary deposits is to bo paid at tho rate of 3 and 4 per cent, per annum. To do this yoar in and year out will force the bank into channels of investment wihich more experienced members of tho profession would liceitate to enter. - KUDDAJIT-PARKER, LIMITED. Tho directors of Huddart-Parkcr, Limited, havo' decidod to pay an interim dividend for the half-year ended June 30 at the rato of 6 per cent, per annum on both preference and ordinary shares, payable on and aftor September 17. CUSTOMS. Oufitoms duties collected at tho port of Welliaistora on Saturday totalled £1466 la. llii, tho amount for . the week being £22,266 10a. 2d. The returns for each of tho past eight weeks, compared with th« figures for tho corresponding period of tho previous year, show as under:—

The beer duty collected for the post week waa £525 lis., ae against £299 2s. 4d. for tie corresponding we-'k of last year. HIDES AND SKINS. Messrs. Dalgety and Co. report:—At our usual monthly sale on Friday we offered a full catalogue to a good, attendance of buyers. Competition was very keen for all Jots, and prices ruled on a, par witli Inst.'Kilo's rates Wool: Crutchings, me'dium to good, 7Jd. to lid.; ceedy and inr forior, 6d. trj 7d.; locke and pieces, 4id. to 51d.; lambs'. wool, Sd. to *9d.; cro.-sbrcd, rough. ?i(l. to 9d., dead i\ool, 9d. tu 95d.; inferior dead, 6d. to 7jd. Sheepskinti: Fullwool, coarse, 7?d. to Bid.; medium to flno, B|d. to 83d:.; hoggets and lambs. Bd. to 83d.; short and shorn, 6Jd. to 7f.d.; auartor to half-wool, Gjd. to 7jd.; dead, 6}d, to 7}rt.; dead hoggets, tjd. to 7d.; pelts,. 6Jd. to 53d.: inferior and damaged, crossbred, 5Jd. to 6d.; butchers, part dry crossbred, at "each: Extra, heavy pioked lines. ?=. to 9a 6d.; heavy, 7s. to Bs. 6t1.; medium end light, 6a. to 6*. 9d.; lambs and hoggets, 4s. 3d! to 4s. 6d. Hides: Ox, heavy. 83d.; medium and Jig'mt, 8 3-Ed. to BJd.; cows, be;t lines, S 3-Bd. to Bjd.; medium and good, Bd. to B}d.; cut and slippy. Gid. to 7>d.: lieifers and steers. 7M>.; yearlings, 7d. to btl.; cut and ulinny ditto. SUI. to fiid.; bulls, 6}d.; horse hidos, .sound, to 10s. 6d.; cut and slippy, 4s. to 7s. 'Calfskins, best lino?, lt'jd. to Is.; medium to good, l!?d.; cut and slippy, 6d. to Cd.; rough and meaty, Bd. to B,Vd. Sundries: Taltaw, .in casks, to £1 7s. 3d.; tins, £1 3s. 9d. to £1 <s.;■ horsehair, I®. 6d. lb.; rabbit-, uidns, lfld. lb. FEILDINO MARKETS. Messrs. A. H: Atkinson and Co., Ltd., report record prices ruling for pigs at. today's Foilding markot sale and for poultry a keen demand. Quotations: Wenncr pigs, indifferent quality. 13;. 6d. to 17s. 6d.; i'ood £1, £1 Is.. £1 2s. 6d.. £1 3s„ to £1 7*.; email store?, £1 Js.; small porkers, £1 10s. bd. to £1 18s. Poultry, per pair: Herns, 4s. 6d 4a. 9d., 55.; cockerelf. S<t. Sd., ss. 9d„ 65.; ducks, 4*3. to 4s. 9d. Table potatoes, 6s. to Bs. 6d. bag; seed Stars, ss. to 8=1.; I'arly Rose, 10s. cwt.; Up-to-Date, Bs. to 95.; cauliflowers. 7s.e-a.ek; pressed hay. 4s. 6d. t.ruf«; straw. 35.; B.P. peas, 2a. busihol; O.S. ohaff, I £4 15s. ton; feed oftits, 3s. 3d. to 3s. 4d.; seed, 3s. 6d. .to 3s. 9d.; w.heat, se. to ss. 6d! ■bushel. WHEAT, OATS AND POTATOES. (By Telegraph.—Press Association.) Oamaru, September 14 Thore is a fair inquiry for wheat, but holders do not readily Tojpond, there bcin-* very little held by grocers. Velvet ha* changed luuids at 40.. uud for one line a penny more was itiven. Redchuff still fotehoß Js. M., Tuscan Js. 6d. and Ja. 7d„ and Waralmll White 3a. (d„ oil nit at

country stations. Easiness in oats during the week lints been limitod. "A" ffvaaos sell at Id. aai'ti 2?. l*d„ gikl "B" grade at Ss., all net. Oaten sheaf chaff soils ,at £3 10s. net oil trucks, and lighter quality at the camo figure, delivered at Gtore. Offerings' of potatoes arc numerous, but there are fc.v buyers. For- one line of primo freshly-picked £2 was given, but other sales of picked took place at £1 15m.. Jo?ri commission, and £1 12s. 6d. not-, olid these prices represent, the value haro. FROZEN HEAT. By Telejrrapli—Press Association— Copyriffht {Roc. September 14, 5.15 p.m.) ; London, September 13. The Incorporated Society of Meat Imoortera' Sinithfield market Quotations for the undermentioned ciarew of frozen meat are 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 quotations arc not for seiected linos, but for parcels fairly representative of tho bulk of tho shipments now on the market. The prices which follow arc on tho average a farthing per lb. more than the values ox ship, this, difference representing the average cost •iu expense, handling - , conveyance, ana sclline tho* meat:—

Rabbits—Tho hot weather ds chccking trade, and prices aro unchanged. VICTORIAN WAX. • (Rcc. September 14, 5.15 p.nJ.) London, September 13. The Victorian, loan Is now quoted at about Si 3. premium.

Buyers. Sellers. £ s d. £ s. d. Bank Now Zeaioowl 10 10 0 — Wellington Investment ... — 0 11 , 9 Well. Trust and' Loan .... 7 16 — Well. Gas (£10) 16 0 0 - Well. Gas (preference) ... 0 19 6 — Standard Insurance — 1 12 3 Ohristchurcli Meat v.4- IS 6 0 — Gear Meat (£1) 3 4 6 — Meal Export (52s. 6d.) ... — J 2 6 Union Steam 2 4 9 .2 6 0 Wellington Woollen (ord.) -r '410 Taupiri Coal 1.13 — Golden Bay Gement — 10 0 Sliarland's preference ... 1 1.1 — W.F.C.A. (£1) - 1 B 3

■- 1913. .J918. ' £ £ ' July 26 - 21.928 ' 11,292 Awwst 2 • 12,540 12,3il8 August 9 24,194 10,479 August 16 10,344 9,114 August 23 27,014 27,261 Auztist 30 15,876 17.218 September 6 20,434 10,446 September 13 22,266 26,132 1 £154,596 £124,290

Sept. 6. Sept. 13 Hutton— • a. iu Canterbury, light 43-8 4J Canterbury, medium 4 3-8 4£ * Canterbury. heavy 4\ * .Southland .. 44 43-8 North Island, best 4 5-16 • 4 3-8 North Island, .ordinary .. 41 4 5-16 Australian, light 34 35 Australian, heavy 33 33 River Plate, light * * River Plate, heavy 4 4i New Zealand oweo ? 33-16 4 Australian ewes 3 3-16 * River Plate eves 33 ' La'rab— Canterbury, light 53 511-16 Canterbury, medium, 5j 5 3-8 Canterbury, heavy 5 5]Southland 5J 5 5-16 Nor-th Island, ordinary .. 5J 5 5-16 • Nortii Island, telected ... 55-16 . 53-8 Australian, beet * '• " Australian, fair * * i Australian, inferior • " ! River Plate, first • * . River Plate, second • • Becf- • New Zealand, ox fores 3 Now Zealand, ox hinds ... 43-16 Australian, ox fores 215-16 3 Australian, ox hinds 3 3-16 4 • River Plate, ox foras 21 3 Jttver Plate, ox hinds 4 4£ River Plate, chilled fores 213-16 3 i River Plats, chilled hinds 4J 53 . *Nono offering.