COMMERCIAL ITEMS.

Dominion, Volume 7, Issue 1870, 2 October 1913, Page 10

COMMERCIAL ITEMS.

1X yjSSTAIEXT SHARES. A tale of Ward and Co. shares, at £5, was. the only transaction recorded in investment shared yesterday. The quotations were He under:— Buycre. Seller?. £s. d. £s. d. National Bonk — 5 8 6 Well. Investment — n 11 9 Ghristcliureh Gas — 7 10 Wellington Gas (£10) ... 16 0 0 Wellington flaa (prcf.) .... 0 19' 6 — Gear Meat (£1 paid) 3 6 0 — Union Steam 2 5 0 2 5 3 Kaiapoi Wodllen (prcf.) — 5 3 0 Taupiri Coal 116 -~ Lcyland-O'flrien- — ? 1 4 3 Tftrinpramutu Totara 2 5 6, — Golden Kay CeiouuiL — 10 0 X.Z. Con. Dental — 12 0 Ward and Co 4 19 0 5 1 0 W.F.C.A. (£5) — 7 2 6 W.r.C.A. (£1) 18 3 Hirama*'preference — 0 14 o THE WOOL MARKET. * As the London sales proffress cv firmer tone is displayed, and in view of the prevailing conditions this is remarkable. Labour troubles are 6till a prominent feature in British industrial circle?, and the transport sections, aro now affected. Then we have to bear in .mind the political outlook in Great Britain owing to the attitude of Ulster over the Home Rule question. The trouble in t-hs Balkans is by no means at an end. On the contrary fresh preparations for the renewal of hostilities are being made by most of the States, and to cap all the Great Powers are making sinister These are all factors tending to restrict trade and stiffen the money market, and yet in spite of them wool keeps , firm. Another aspect of the situation/ i 3 also worth recording. At the sales attempts p.re usually made to bear the market, so that buyers visiting , Australasia, may bo able to secure supplies at low rates. No ii 3 being made to bear the market, for all acree that wool will be dearer aa .soon as the situation becomes clearer. THE DUBLIN STRIKE. The Dublin transport dispute is likely to have somo marked effects. The Manchester Ship Canal will suffer somewhat, owing to the trade of Manchester being paralysed by sympathetic strikes. For the first time since the inception of the undertaking the Manchester Ship Oanal has earned enough during the first half of the year to enable it to pay the full six monthS' interest on its indebtedness to the city corporation. The latter advanced £5,CC0,0C0 to the Canal Company at 3 l-sth per cent., non-cumula-tive. Any part of the interest not earned wa3 to be made good at the close of each year by the issue to the corporation of 3J per cent-.' non-cumulative preference etock, the last allotment of which, was made in 1909. Since then the full annual charge of £160,000 has always been met out of revenue, bat. this is the first occasion on which the Juno' half-year has earned its proportion. This achievement to tho hope that the earnings of the canal would show record figures, the last six months "being always the more profitable petiod of the year, "This expectation, however, may now fail to be realieed, owing to the outbreak of labour troubles in sympathy with tho Dublin transport dispute. Some idea of the magnitude of the canal traab may be'gained from the reports for the year 1912. Thereini it is stated that nearly 5,500,000 tons of goods were transported on tile cnnal. and the net working revenue was £315,090. One curious feature about the traffic is in regard to the shipments of cotton. The canal was largely promoted to bring this raw material direct to the Lancashire mill 3, the eaving between c.i.f. cotton and that bought at same, prico in Liverpool being 3s. 9d. per bale in favour of the former. Yet cut of the whole nuantity imnorted into Great Britain from America/-^,498.0C0 bales—fewer than SCO.CCO bake camo via the ship canal.

BOOM IJT LIFE .ASSURANCE. The effect of the limitation of tic business of life ofllcCG in the/ United States has had. the effect of creating now offices in a wonderful vr'a;. It seems incredible, but. apparently it is a fact, that since the year 1906 the lifo assurance companies reporting to tho authorities in the United States have increased in nnnibcr from 132 to 252. In other words, the new life companies that have come into betas in the United States during the past six years only far exceed in number tho whole of the < life offices doing business in ' Great Britain and Ireland of tor nearly two centuries of lifo assurance experience. Whence do these 120 new lifo offices in the United States derive their business? Are they taking brueinesa away from the older companies? That scams hardly to bo the case, for the older companies themselves appear to report an increase of business from year to year. Then, do the new companies take their business from tho annual increase in the insurable population in tlio United States? That, we think, can scarcely bo an adequate explanation of the problem, for the old companies are quitei as active in tapping this source as the new ones. It is true that during the period named tho amount of new business written by tho three giant American of-; fices has been cut down and limited by law. But neither is this sufficient to account- for tho fact that, although the old life companies are increasing their business, tho. ojio hundred and twenty new companies are apparently making progress.

. CUSTOMS REVENUE. ' Customs duties collected., at the port of Wellington yesterday 'amounted to £4857 18s. Id.

AUCKLAND EXPORTS. (By Telegraph—frees Association.) Auckland, October 1. ' The value of the principal exports from Auckland in September, 1913, was £254,632, against £134,609 in September tho previous year, and for tho nine months of 1913 £2,633,734, as against £1,969,722 in the corresponding period last year.

LONDON WOOL SALES. ■ ; By Telegraph—Press Association—Copyright London, September 30. At the wool sales, competition wns strong. Tho oj'iening rates wore fully maintained. Kcc. October 1, 9.35 p.m.) London, October 1. The following prices were realised for fleece portions of New Zealand clips named:—'"Murchison," top price 25id„ average price, 24Jd.; "Kaiata," 12Jd. and Hid.; "Opou," llid.; "Howard," 12d. and Hid.

The Now Zealand Loan and Jtcrcantilo Agency Co., Ltd., have received the following cablegram from their London house, under date September 30:—Aa compared with last salo'6 closing rates, prices are higher by -about 5 per cent, for Ecwircd merino inferior; higher by about pax to 5 per cent, for crossbred scoured, greasy merino super, greasy crossbred, scoured merino super and scoured merino medium; about the samo for merino and crossbred lambs and grcflsy merino medium; lower by about par to 5 per cent, for orosebrcd slipo and greasy merino inferior. Wool sold locally: The demand on American account is restricted. FINANCIAL CABLEGRAMS. By Telegraph—Press Association—Copyright London, September 30. '• Yesterday's closing Quotations were ,as follow Bank of Australasia, buyers £113, tellers £115. ■ Bank of New South Wales, buyers £38, •ellcra £40.

Bank of Victoria, buyers £3 15b., toUera £4 ss. ...

Union Bank of Australia, buyers £54, sellers £55.

National Bank of Australasia,, buyers £5 5y., -sellers £5 15s.

National Bank of New ZeaJaud, buyers £4 16s-.. sellers £5 ss.

Bank of ICew Zealand, buyer* £10 10a., sellers £11 10s.

N.Z. Loan and Mercantile Agency 4 per cent, debentures, £89 Ifc#., ex dir. City of. Melbourne, 4 . per cent, debon* tures, £98.

Melbourne Harbour Trust, 4 per cent. de« benturee, £96.

Melbourne Tramway Truet, 4$ per «nt debentures, £100.

Melbourne and Metropolitan Board of Works, 4 per cent, debentures, £97.

Australian Mercantile debentures.. £50. Dalgety and Co., 4 per cent, debentures, £91.

Dalgety and Co.'s 3hares, buyers £6. sellers £6 10s.

"Melbourne Gas Oo's debenture*, £99. Oity of Sydney, £90. Goldsbrough, llort and Oo.'s dobentuxas. £93 10s.

Bank of' New Zealand. 4 per cent, guaranteed stock, £100. LONDON MARKETS. London, September 30. Silver.—Bar silver is quoted at 28 5-16 d. per ounce standard. Jute.—Natiyc first-marks, October shipment, £34 15s. per ton. The market is dull. WHEAT. fiec. October 1/9.35 p.m.) London, Octobcr 1. The wheat market is inactive, prices be* injr fairly steady. (Ike. October 1, 11.10 p.m.) London, October 1. The American visible supply of wheat east of tho Bookies is 42.939.CC0 bushels. METAIi MARKETS. Rec. October 1, 9.35 p.m.) London, October 1. Copper.~£72 ss. per ton; electrolytic, £77 15s. Tin.—£lßß 7e\ 6d. per ton (spot); £188 126. sd. {three months). Lead.—£2l 2s. 6d. per ton.

HIGGINSON & MA.CBHANE, Shsrebrokera and Accountant*. H3 FBATIIKRSTON ST., WELLINGTON. ' lelMrwar^'Mvtyton.