COMMERCIAL ITEMS.

Dominion, Volume 7, Issue 1874, 7 October 1913, Page 10

COMMERCIAL ITEMS.

INVESTMENT SHAKES. There were no transactions In investment shares yesterday. The quotations were as under:— Buyers. Sellers. £ s. d. £ a. d. Bank Now Zealand 10 15 0 — National Bank — 6-8 6 N.Z. Loan and Mercantile (pref.) 97 0 0 — Wellington. Investment .. — 0 11 9 Well. Trust and Loan ... 7 1 6 — Feildinp Gas 012 0 0 14 0 Wellington Gas (£10) .... 16 5 0 - S.B. Insurance 318 0 — Gear Meat £4) 12 10 0 - Gear Meat (£ll 3 6 0 — Union Steam (ord.) 14 6 — Union Steam (pref.) — ,10 3 Taupiri Coal 116 — West port Coal 110 0 — Westport-Stockton 0 4 0 0 4 3 Leyl.aiid-O'Brion — 14 3 Taringanmtu Totara 2 5 0 — Golden Bay Cement — 1 0 0 N.Z. Con. Dental — 12 0 W.F.C.A. (£5) - 7 2 6 W/F.C.A. (£1) - 18 0 LONDON WOOL MARKET. The London wool tales exhibit a very Kitisfaetnry tone. Up to Saturday. 130,567 bales hod been cataloßued, and 116,289 sold, so that 60 far only 14,278 bales havo been withdrawn and these aro eaid to be mostly specula-tors' lots. The tone of the market has been Arm all til-rough, and there has been keen competition. This gives hope that, later on, when the new clip coine3 on the market values will be better than they arc just now. The speculators in wool may be trusted to be well informed, and tlie fact that they have withdrawn some of their lots to be offered at the November sales is an indication that tlio market is expected to improve, and that seems likely enough.

UNEMPLOYMENT INSURANCE. The flre-t report of the proceedinps of the Board of Trade under Part II of the National Insurance Act, )911. was recently issued as a Blue Boole, and this allows that though the unemployment insurance has boon in operation for a year thcro has only been six months' experience of the payment of unemployment benefit. Tlio first year has been ci year of minimum unemployment. This i>3 the dominant fact whicili colours all tlio riiol istics. The number of unomuloyrocnt books lodged* the average length of each ppell of unemployment, the. proportion# of each spell on benefit and not on benefit, end the relatione of income and expendituire would all be widely different in a year of normal employment and still more different at a time of depression. One of the jrfost 6trikinjr features is that tho number of claims, oven in v. time of prosperity, should be so great. The number of unemployment books issued during the year was fuich'tly over 2.5C0.C00. which probably corresponds to a total number of about 2i million workmen holding euch books at a given time. The income at. present beins received from employers' and workmen's contributions is at the rate of about £1,800,000 per annum, or, including tho Stato contribution, £2,400,000. The total expenditure out of tho unemployment fund on- benefits, Tofumds. and administration has hitherto been at tho rato of £7CO,CCO per annum. ... During tho period of just over six mouths since tho scheme came into full operation unemployment has beeu nt a Durwig tlw) wjba period tftcffp

have been nearly 560.0C0 claims to benefit made by unemployed workmen in the insured trflilos. In spit-o of tho fresh Hum* here becoming unemployed each week, tho numbers remaining unemployed have on the whole fallen throughout the period. The average number rejoining work in each week is about ZfI.COO; tho actual number* rained from iwt under 13,000 to over 30,C00. Tl'e whole picture thus presented by tho statistics of men falling out of employment ft-nd men reinajmnj? unemployed is tliat of a constant irregularity of employment, even when employment is at its best, fi ceaseless 6hifl-in?r from job to job. a recurrent loss of proihictivc power, and of wages in tho interval between 0110 job and the next.

COMMONWEALTH STATISTICS. Tlio official fisures rclatin? to sliipnins and oversea, migration for tlio year 1912 havo iu-t be-n published by tlio Commonwealth Statistician, In t-bs aßcrcsato 2C35 vessels of 5.163,357 tons net entered the Commonwealth from oversea, countries durin" 1-a-Pt year, as compo.reu with #.81 vessels of f1.993.CT tons net. in 1911. . Those of British nationality wero 3399 in number, representing 3,778,322 t-ons net of which 358 vc?-eJ3 of 456.143 tons were Australian. These figures compare with 14-50 vessels of 3,696.478 tons in 1911. of which 6:4 vcpels of 423,511 tons wero Australian. From which it appears that the size of vessels trculinsr in these waters is increasing, the pain on the twelve' months being fully 10 per eent. Of tlie foreign vessels that entered tho Commonwealth last j'car. those from the United States take first place with 453.354 tone, Germany coining nest with 427.320 tons, tlio a??rcßatc of foreicn vessels being 1.964.2H tons. The outward movements comprwd 2017 vesso-s of 5.111,957 tons, of which 119j. reprcesntuis 3.208.783 tons, cleared for British Por-s. Migration returns arrivals in 1912 of 166,958, t of which 6287 were- not, of nationalities, whereas departures were 67,054 white ana 6487 other races. In 1911 the nrnvaus toto.l- - 141,909, and -departures 64.2C6 persons. Customs duties collected at , the port 'of Wellington yesterday amounted to £1823 2s. Id. HIGH COMMISSIONER'S CABLEGRAM. Tho Department of Agriculture. Industries, and Commcrcc has received tho followiii" cablegram from the Commissioner for New Zealand, dated London. October 4. (Note: Quotations, unless otherwise epecified, are average market p'ricce on spot):— . . Mutton.—'The market is not nuito so lirm. and prices have declined except for very heist Quality. Cflnt.erbuiT, 42d. per lb.; North "Island, 4 7-16 d. Lamb—The market js weaker and sliElit]y lower. Holders eeam to be losinir confidence, owing "to !?.rso Australian shipments. Canterbury twos. 6?d. per 11:,; henvy-weisht foure, 5d.; other than Canterbury, 5 3'lM. , . , Beef—Thei market is steady, w.th no. clianso in prices except for chilled binds at 42d. per !b. . River Plato shipments, received during tho month of September, 1913:— Kuitton. Lamb. London 12.218 12,067 Liverpool 39,657 6.728 Hull 5,024 1,393 .Souths, npton 10,089 8,708 Plymouth &2 Ncwcastlo 2,302 — 69,793 29,086 September, ISI2 .... 122,217 25,358 Butter.—Tho market is* quiet, but firm,' with no change in prices. A pood demand continued for choicest. Australian, per cwt., 1125. to 1165.; Argentine, 120s. to 1225. Cheese.—The market is quieter. There Is no chanjje in prices. . Hemp.—Tho market continues dull. Fair current Manila, per ton. £30 for all positions. Reports from Manila indicat-o prices • there are about £1 per ton liiehcr than at this end. The output from Jfanila for the week was 17,000 bales. Kew Zcnland-tfew Zealand hemp has been ir. bettor demand during this week, but. transactions "are light, owins to the absence of otters from the Dominion, freoond-hand holders met tho market by celling fair *?rnde p.t 15e. per ton. Now ZealnM. good fair irrade. per ton. £29 10*. to £29 16s. (nominal) for ony position. Sisnl—The market is steady at 6 ccnt?, cquol to £28 17s. 6d. per ton. c.i.f. Europe. , , .• Wool.—Tlio market is steady, and prices aro well maintained. , LONDOX WOOL SALES. Dalpetv and; Company, Limited, have recciivcd tho following cablcpram from their London office, under date October 3:—"Wool sales continuo firm and active, with brisk competition. As compared with !flr-it sales' closing rates, scoured merinos are par to 5 per cent, higher. Bliped wools are unchanged, paTtly owing to American Fine and medium Kreasy crossbreds a.ro 2i per cent, to 5 per cent, an-d coarse croesbreds 5 per ccnt. higher." By Telegraph—Press Association— Copyright London, October 5. At tho wool sales there wore a few withdrawals of speculators* lots, but the market was firm, and there was keen competition for mil classes. To date 130,567 bales havo been catalogued and 116,289 sold. ' , , * Tho following prices wore _ realised for tho fleece portions of tho clips named:— "Wafl-paoa," top price 12* d.. average 11<I.; "Aranni." lid. and "Ngakonui, 13d. and llgd.; "Taratxhi," 13id. and 12Jd.

j FEOZEN MEAT. J London, October 5. Tho IncoYporated Society of }[cai ImDorters' Bmithflcld market auotations for tlio undermentioned classes of frozen mtat aro based on actual sales of not less than one hundred caroassos of mutton or lamb, or twenty-five quarters iof beef of fair average quality. The Quotations aro not for selected lines, but for parcels fairly representative of tho bulk of the shipments now on tho market. The prices which follow arc on the average a farthing per moro than the values ex ship, this difference representing the average cost 4in expense, handling, conveyance, and sellinz the meat:— ' „ Sept. 27. Oct. 4. Mutton— . d- d. • Canterbury, light 43 43 Canterbury, medium 4a 4| Canterbury, heavy * * Southland 4 7-16 43-8 North Island, best. 4i 4 7«16 North Island, ordinary 43-8 4 3-8 Australian, light 313-16 3| Australian, heavy 31 og Piver Plate, light fliver Plntc, heavy 4 3-16 4 3-16 New Zealand ewes 315-16 3i Australian owes * * River Plato ewes * LambCanterbury, light 511-16 58 Canterbury, medium 53-8 55-16 Canterbury, heavy $1- 5 Southland 5} 53-16 North Inland, ordinary ... 53-16 5.V North Island, selected ... 5 5-16 5i Australian, best * * Australian, fair * * Australian, inferior * River Plato, first River Plate, second Beef— _ _ New Zealand, ox fores ... 3 3 Now Zealand, ox hinds ... 4} 4} Australian, ox fores 3i Z\ Australian ox hinde 4J 4& Piver Plate,, ox fores 3J Zb Piver Plate, ox hinds 4J 4J Piver Plate, chilled fores 3£ River Plat?, chilled hinds 53 43 •None offering.

Babbits—The hot wenther is deprcsainß trade. Mr.ny English lia-vo been condemned. Colonial ore dull. New South Walca bluea 16i1., ei Etoro.

Mevtrs. Gilbert,, Anderson and 00. (Messrs. Mcllsop. Eliott and Co., local agents), writinu Haider date London, August 2y, report 08 follows:— . , ... A dull week lias.finished up with o. slight spurt, frozen mutton and lamb being a fraction deaTer. Whether tho trade in its present condition can stand the increaso remains to bo seen-Home-grown—Beef: Scotch. 6>.d. to 63d.: English SJd. to 6 3-Bd.; Irish, 6Jd. to 6!d.; Canadian, sid. to 61d. Mutton,: Scotch, 7d. to Bd.: English. 6d. to 7id.; (ewca, 4id. to sid.l; Dutch, 53d. to 7d.; lamb, Peotcli, 7}d. to Bd.; hill lamia. 6d. to 7d.; English, 7d. to Ed.; Dutch, 6d. to 7}d.; veal, 6Jd. to Bid.: pork, 6Jd. to 7Sd. 'Chilled Beef—Fair supplies have met with a poor demand. Fores, 2Zd.; hinds, 42d. Frozen lleef—New Zealand fores, 3d.; hinds, Md.; Australian crops. . 2 15-16 d.; hinds, 3 13-16 d.; South American fores, 23d.; liind-s, 3 15-16(1. Frozen Mutton—The shoTt fhipmcnts of South Vmorican havo caused New Zealand to firm. Canterbury, 48 to E6. 4 3-16 d.; 56 to 64 4 3-16 d.; 64 to 72. 4 l-16d.; best New Zealand, 56 to 64, 4 3-16 d.; ordinary, 4Jd.; New Zealand ewe.?, 33d.; Australian wetheiv 30 to 50, 33d.: 50 to 70, 32d.; South American, 56 to 72, 3 15-16 d.; owes, 48 to Lamb.—Medium and heavy erodes continue to linn, as anticipated. Canterbury umder 36, 3 9-16 d.; 36 to 42, 3id.; 42 to '50 43d.; best New Zealand. 28 to 42, 5 3-16 d.; Southlands, 5!d.; ordinary, 5Jd. WHEAT AND FLOUR. Bj Telegraph—Press Assentation—Copyright London, October 5. Tlio wheat market is inactive, and tho tone unsteady, owing to the unfavourable outlook in India, Australian new crop is freely offering; 30s. 6d. i 6 asked for January-February shipment, and 365. has been paid for a. pared o£ October sbip"tlic' wheat and flour afloat, for the United Kingdom total's 1.7C0.0C0 quarter?: for the Continent, 1.9C0.CC0: Atlantic shipments, 447,rc0; Pacific, 58.W0. The totni shipments to Europe during the week amounted to 1.150.CC0 quarters, including 10,000 from Australasia.