COMMERCIAL ITEMS.

Dominion, Volume 7, Issue 1868, 30 September 1913, Page 10

COMMERCIAL ITEMS.

INVESTMENT SHARES. A fair business was done in investment shares yesterday; there were sales ol Union Steam at 453.; ffcstporfc Coal at 36s.;■•anil Wcstport-Stockton «it 4s. Id. The Quotations • were as under:— ( " Buyers. Sellers. I £a. (1, £s. d. Well. Investment — 0 IV 9 (Jhristchurch Oas — 7 10 Feilding Gas 012 0 — Wellington Has (£10) ... 16 0 0 — .Standard Insurance — * 1!2 3 Gear Meat (£1) 3 5 6 — Union Steam — ; j Kaiapoi Woollen (pref.) ... 5 0 0 5 3 0 Taupiri Coal 116 — Westport-Stockton 0 4 0 0 4 2 Leytond-O'lirien — 14 6 Taringamutu Totara 2 5 6 — Banks, Ltd. (ord.) 10 0 — Golden Bay C«ment — 1 S 9 N.Z. Con. Dcnta! — 1 2 0 Sharland's preference ... — 119 W.F.C.A. <£; - 1 I t W.F.C.A. (£1) — 18 3 Jliramar (prof.) — 015 0 AEGENTINE HEAT SUPPLIES. A problem of increasing perplexity in Argentina, is the preservation of the herd* of the country. So pressing is tho demand for the solution of the difficulty, that of late there liavo been repeated suggestions for legislative action, with the object of restricting the slaughter of cow. A writer in "La Naeion," discussing tho domestic, as well as the foreign, outlook for tho Argenine moat trade, maintains that in that country the people eat much. "I is doubtful," he adds, "whether there is any other country in tho world which consumes' so-much per inhabitant.- This in the Federal capital," he states, "amounts to 125 kilos (about 2751b.) per head per year, and in the country it is even greater. In rural establishments every family eats jive or sis sheep per month, and if tho proportion wero the 6ame for the wholo Kepublic, we would consumo our wholo stock of sheep in a year. The farm hand eats about oiic ton of meat in a year. One reason why tho breeding of eliccp is Riving pltico to that ofcattlo is that the former rcrjuirc more hands to look after them, and theso would consumo tho greater portion of tho increase." Tho writer fails to find any grounds for tho hopo that the value of moat is likely to movo in favour of the consumer.

WEST AUSTRALIAN RAILWAYS. A steady decline in the surplus of earnings over working expenses and interest is common to all Australian railway systems at present, and this tendency is marked in the report oh the Government railways in Western Australia. Tor tho year ended June 30, total earnings were £2,037,853, on increase of £153,249 on the year, but working expenses expanded to tho extent of £162,623, f.o that the net working profit declined by £937'!. After providing for'interest uud all other outgoings, there was a surplus of £25,328 as compared with a credit of £101,474 in 1911-12, and ono of £224,441 'in 1910-11. Tho percentage -of working expenses to earnings is now 73.93, as against 71.31 twelve months ago, and 65.95 for' 1910-11; while the percentage of proilt to capital had fallen from 5.22 in the lastnamed period to 3.56 in the year under review. The total length open for traflic on Juno 30 last was 2854 miles, and tile capital account stands £14,913 ; 128. In commenting on the financial position tho Commissioner of Railways states that it is difficult to say where an improvement in the net earnings is to bo looked for under existiug conditions. Tho stage appears to have been reached when the Govoruxneut will have to regard the railways as no longer a sourco of revenue to tho State. Railway construction in' Western Australia has cxcecdcd the growth of population, as is inevitable if tlio country is to lie opened up for settlement, and lines recently constructed cannot bo expected to bo immediately profitable, in addition, heavy expenditure is pending in regard reslceperiiig and locomotivo depreciations, and the position is such as to oall for sounder methods of finance than have hitherto been pursued by tho Western Australian Government.

Customs duties collected at tho port of Wellington yesterday amounted to £2693 9s.

HIGH COMMISSIONER'S CABLEGRAM. Tho Department of Agriculture, Industries, and Coinmerco has received tho following cablegram from the High Commissi»!ier for Now Zealand, dated London, September Z7. (Quotations, unless otherwise specified, aro average market prices on spot):— Mutton-Tile market is firm, owing to short supply. There is no change in prices except that tho prico of ewes has declined l-15d. per lb. . , Lamb.—The market is weaker and tendency is downward. Holders are moro willing to sell. Canterbury is unchanged,

but it is generally believed that pricca will decline; other than Canterbury. 6id. per lb. Beef.—Tho market is steady, with 110 change in prices. Chilled, prices have declined owing to weather bciug too hot. iiiuds, 4id. per lb.; fores, 3d. Uuttor.—The market is and pricos continue to advance, but there is no cliango in prices for Danish. The supply falls short of tho demaud for choicest. Tho weather id zuoro favourable hero for production. Cheese.—Tho market ia quiet, and pricea havo declined Is. per cwt.- for Canadian. Tho market is firm, with more inquiry for English, but there is no change in prices. iJemp.—Manila: The market is Quiet, and the demand for: near position is easier, in anticipation of heavier arrivals. Fair current Manila, per ton. £30 10s.; forward shipment, .£3O. The output from Manila for the week was 19,000 balw. New* Zealand: it* steadier, with a fair demand for forward shipment. Spot is quiet. New Zealand igood fair grade, ner ton, £29 15s. to £30; fair, £25 los.' to £26 for all positions. Wheat.—Tho market is quiet. New Zealand long-berried wheat, ex granary, per quarter of 4961b.. 355. to 365. Business lias been done with arrived parcels at London at 335. 6d. to 335. 7id.; West Coast, at 3Js. 3d. c.i.f. per 4801b. Oats.—The market is very quiet; nothing doing. Tliero are 1500 parcels old crop New Zealand oats available. Peas.—Tho market is dull of old crop, but there is a fair demand for better of now crop- at about 455. 6d. per 5041b. Sec-ond-class quality, 435. 6d. ex etore. Ilea-ne.—The market continue dull. Good quality New t Zealand beans, f.a.q. (now crop), is Boiling at 355. per 5041b. Linseed.—Thero is a good, demand, and feed is selling at an average price of 465. per 4161b. ex store. Wool.—The market remains firm. Kauri Gum.—The market is firm, and tliero is a good demand; 377 pa-ckages wero offered and 84 sold. The stock at tho end of August was 292 tons. Dark brown selected, rescraped, per cwt.. 150s. to 1705.; dark brown three-quarter scrapeo. :9S<. to 1055.; dark brown chips, drossy. 45e. to 555.; rescrapcd pale amber. 2405. to 2805.; three-quarter pale scraped, 180s. to 2005.; diggers' chips, good, 706. to 80s. FJIOZEN MEAT. Messrs. Gilbert Anderson and Co. Olessm MelLsop, Eliott and Co.. local agents), writing under dato London, August '£L t report as follows:— Tho market very quiet, but there is little chaugo in orices, the demand from tho country being just sufficient 'to maintain prices. Home-grown beef: Scotch, 6id., 7d.; English, 5Jd., 6*d.; Irish. 5Jd., 6d.: Canadian, 5Jd., 6Jdl Slutton: Scotch, 7d.. 7*d.; English. 62d„ 7Jd.; Dutch, sjd.. 7d. Lamb: Scotch, 7d.. Bd.; Scotch hill lambs. 6d., 7d.; English, 6id., 3d.; Irish, s}d., 7d.; Dutch. • 6*d., 7Jd. Veal, 7d.. 7*.d, Pork. 63d., 7d. Chilled beef.—No change. Fores, 2£d.; hinds, sd. ' Frozen beef. —Now Zealand force, _ 3d.; hinds, 4d.: Australian crops, 34,; hinds. 53d-; South American fores, 23d.j hinds, 3 15-16 d. Frozen mutton.—Good inquiries for sheep afloat. Values remain as last week. Canterbury sheep, 48-56, 4 3-16 d.; 56-64, 4 3-16 d.; 64-72, 4 l-16d.j best North Islands, 56-64, 4/d.; ordinary. 56-64, 4id.; ewes, 43-64, 3 11-16c1.: Australian wethers. 30-50, 3*d.; 50-70 , 3Jd.; South American wethers, 56-72, 3 15-16(1.; ewes, 48-64. 3£d. _ _ _ Frozen lamb.—A/> anticipated, medium and heavy-weight lambs are l-16d. above kist week's prices. Canterbury, 28-36,. s}d.: 36-42, 5 l-16d.; 42-EO, 4 11-16 d.;. best North Island, 28-42. 5 3-16 d.: Southlands. sjd.; ordinary New Zealand. 5 l-16d-LONDON WOOL SALES. By Telegraph—PreßS Association—Copyright London, September 28. At tho wool sales , there was a, good offering of greasy Opening ratea were f.uily maintained. Merinos wero firm, and prices unchanged. Tho wool catalogued totalled 48,578 bales, and tliero were sold 42.752 bales. ■ The following prices were realised for tho liceco portions of the clips named:— "Wnihua," top prico IOJd., average IOJd.; "Golley rark," top prico lid., average 105 d.; "Rhoborouah," iJcS. ana "Castlo Mill," Hid. and 10?, d.; GPD, scoured, 15d. and 15d.; GPD, 13d. and ,13d.

Messrs. Dalgeiy and Company, Ltd., Wellington, have received the following cablegram from their London office, under date ot September 26:—The wool sales continue firm, with an upward tendency. For wools, good nuality and condition, prices are rather higher. Crossbred wools at 2{ per cent, to 5 per cent, higher. French wool buyers are' tho prinoipal operators, prices aro too high for English buyers. Wo riuoto Bradford tops, 640. now costing 29id- to 30d. Bradford tops: Wo quote Bradford tops 36's to 70's, "as under !wo also show tho at August 29 lost):— ■ ' Sent. 26,1913. Aug; 29.1913. ' ■ d. d. 36' a 15* , 15*. ' 40's 153 153 44's 16 16 46'3 165 161 50's 19? 19? 56 V> 224 221 58-3 m m *60's - : 274 271' f6o's 281 23 64's 29 283 ' 70's ,295 'Common. toußer. SYDNEY TEOOL SALES. By Telegraph—Press Association—Copyright (Eec. September 30, 1.5 a.m.) Sydney, September 29. At the wool sales competition was general. The top prico was 12Jd. for Greasy crossbred. LONDON MARKETS. London, September 28. Cotton.— September-October shipments of American middling cotton are clearing at 7.42Jd. per lb. Jute.—Tho market is weak: October shipments aro quoted at £34 15s. per ton. N.Z. hemp is quiet. Good, fair, OctoberDecember shipment. £30 per ton. AUSTRALIAN MEAT TRADE. London, September 28. A conference of business men and ofiloials interested in tho Australian meat trade will meet at Hamburg to consider the matter o£ the extension of importation. and discuss improved slaughtering methods in Australia and improved storing in Germany. WHEAT AND FLOUR. London, September 28. The wheat and flour afloat for the United Kingdom totals 1.795.CM quarters; for the Continent; 2,150,000; Atlantic shipments,. 353,000; Pacific. 95,000. Tho total shipments to Europo during tho-week amounted to 1,490X150 quartors, lincludiiag 20,000 jJram Australasia. Tho market is steady. Cargoes aro inactive; 365. 3d. is asked for South Australian. MANUFACTURED METALS. London, September 28. Tin plates, I.C. coko, 13s. 3d. per cvrt.; 1.0. charcoal, 15s.' 3d. Anglo steel is quoted at £6 per ton. Fencing wire, £8 ss. per ton. Antimony is quoted at £6 per ton for 50 per cent. ore. Aluminium is quoted at £86. KAURI GUM. Kauri Gum Market.—337 packages were offered. 94 being sold. Brown was in fair demand; half to three-quarters EQraped sold at 955.; pickings, at 755.