COMMERCIAL ITEMS.

Dominion, Volume 7, Issue 1880, 14 October 1913, Page 10

COMMERCIAL ITEMS.

INVESTMENT SHARES. The transactions recorded iu investment shares yesterday were:—National Bank at £5 7e. 6d., Gear Meat (£4) at £13, and Union Steam at £1 Gis. Tho quotations wero as under:— Buyers. Sellers. £ s. d. £ s. d. National Bank 5.7 0 5 8 0 Well. Trust and Loan ... 7 1 6 — Well. Gas (£10) 16 7 6 - Well. Gas (pref.) 0 19 6 — Standard Insurance 1 12 0 1 12 b Gear Meat (£4) 13 0 0 - Gear Meat (£1) 3 9 0 — Uuion Steam (oTd.) 15 9 16 3 Kaiapoi Woollen (pref.) — 5 2 6 Well. Woollen (ord.) ' —p 4 1 t> Leyiand-O'tirien — 14 3 Tariugaimi'tu Totara ... 2 7 6 Golden Bay Cement — 10 0 W.F.C.A. (£5) ;. — 6 15 0 W.F.C.A. (£1) - 16 6 BUSINESS MORTALITY. According to "Dun's llovicw," there were more commercial failures in the United States during August thau in the corresponding period of recent preceding years. The total insolvencies in August were 1145 against 1102 in August last year, and there were numerous insolvencies of unusual magnitude. In Canada, in point of numbers, the insolvencies during August were larger thau in- the same period of rccent years, and with the single exception of 1911, there was also more or less increase in tho sum of money involved. Thus August's- record of commercial failures was 112, compared with 103 in the preceding ybar, 105 in 1911, and 95 in 1910. British financial experts anticipate a good deal of default, owing to the continued high rate of interest, political tension, and labour unrest. Recently there have been soveral bank suspensions in the East, and in the United States some important commercial concerns have gone under. ARGENTINE'S EXPORTS. A conspicuous feature of the export statistics of Argentina for the first half of the current year is an all-round ex. pansions in the operations in cereals, which is shown on comparing the totals with those for tho corresponding term of

1912, and the shrinkage in meat hues. Shipments' of wheat dijring the January-Juno period last completed represented 110 fewer thau 2,501,852 tons, as againat 1,870,922 tone in the opening six months of last year, 1,727,002 ton 3 in 1911, 1,229,191 tons in 1910, and 2,238,220 tons in 1909, tho aggregate tliia year being thus tho largest recorded in the period covered by tho statistics. Similarly maizo exports were a record, the quantity dispatched to oversea countries, according to tho latest figures, amounting to 1,974,200 tons. Last year, it was 1,110,004 tons for the six months, and iu 1911, when the crop was a failure, it wa-3 only 129,081 tons. Tho liivcT Plato is an Important contributor to tho world's supply ot linseed, of which" 717,352 tons wero sent to other countries. • Other grains included in tho exports of tho Republic. between January and Juno'last wero 767,647 tona of oats and 31,303 tons of . barley. Flour shipments wero only 61,472 tons. Apart from an improvement in tho outwards trado in chilled beef there has been a general contraction in business in meats. Frozen beef declined from 857,511 quarters to 777,656 quarters, frozen mutton from 1,011,730 carcasses to 621,609 carcasses, and frozen lambs from 355,584 carcasses to 203,561 carcasses. Tho movement in regard to chilled beef is in the opposite direction to the extent of 265,458 quarters, the 1913 quantity being 1,376,305 quarters. In recent halfyears tho quantities supplied to outsido markets have been- as follow: —1912, 1,110.847 quarters; 1911, 1,034,264 quarters; 1910, 714,925 quarters; and 1909 , 601,923 quarters. Exports of frozen mutton on tho Eamo basis of comparison . havo decreased over 50 per cent. The whole of the chilled beef exported from Argentina up to the end of Juno in the current year was sent to tho United Kingdom. In sympathy with the shrinkago in trade in meats thero has been a a decrease in animal products, such as hides and skins, although an increase occurred in the trado in tallow, whilst shipments of butter moved upwards from 56.008 rasp® in tho opening half of. last year to 93,327 cases, most of which was consigned to London.

Customs duties rollectod at the port of Wellington yesterday amounted to £1767 15s. Id. \

HIGH COMMISSIONER'S OABLEGKAM. 'The Department of Agriculture, Industries, and Commerce has received tho following cablegram from' the lligh Commissioner for New Zealand, dated London. Ocober 11. (Note: Quotations, unless otherwise specified, aro 'average market prices on spot):— Mutton—Tho market is quiet, with no change in prices except for ewes, which are (juoted at 3 13-16 d. per lb. Lamb.—The 'market is slightly weaker, with lesa demand, especially for heavy weight. Prices have declined for medium and light-weight Canterbury. Canterbury, twos, 5 9-16 d. per lb.; hoavy-weight fours, 5d.; other than Canterbury, 5 3-Bd. for best quality light-weight; ordinary grade, 5 l-16d. A few of this season's Australian lambs are in tho market, and selling as high 52d. Scef.—The market is firmer, owing to tho weather being more favourable. New Zealand hinds, 4Jd. per lb.; fores, 3id.; chilled hinds, 5 3-Bd.; fores, 3-Bd. Butter.—The. market is quieter. Thero is a fair demand'for best quality. Argentine, per- cwt., 116s. to 1205.; otherwise, no chango in prices. Cheese.—Tho market is quiet, and pricco aro slightly weaker. Hemp.—The market is quiet, but steady. The position in Manila is unchanged. Thero is littlo demand for spot. Fair .current Manila, per ton, £29 15s. to £30 (nominal); October to Decemebr, £29 55.; January to March, £29 10s. The output from ..Manila for tho week wot? 19,000 bales. New 'Zealand: Nominally unchanged. October to December, New Zealand good-fair, per ton, £29 103. to £29 155.; fair, £25 155.; Sisal: New York market is unchanged. Bueinoss has been dono with Europe on tho basis of £28 12s. 6(1. per ton. Wheat—Tho market is quiet, and only a small quantity of Now Zealand wheat is available. New Zealand long-berried wheat ex granary, per quarter of 4961b., 365. Oats—The market is dull, very littlo bnsineos doing. . Nominal quotations, old crop, Sparrowbills, 235.; Danish, 20s. 6d. per 3201b. Peas—Tho market is quiet, but firm. Now Zealand peas, per 5041b., aro quoted at 445. 6d. for. first grado, 41s. second grade, cx store. Boaus—The market is very dull. ' New Zealand beans, f.a.q. (now crop), per 5041b., 353. to 355. 6d. Cocksfoot Seed.—The market is very quiet. There aro sellers of bright, clean New Zealand cocksfoot socd, weighing 171b. per bushel, at' 60s. to 51s. -por cwt. (now crops), but there aro no buyers. LONDON MARKETS. By Telegraph—Press Association—Copyright London, October 12. Cotton.—October-November, 7.07Jd. per lb.. Bubborl—l',ara, 3s. 4d. por lb.; plantation, flrat latex srepe, 2s. lid.; smoked sheet, 2s. 6d. Hemp.—Market steady. Octobcr-Decem-ber, £29 10s. ' Copra—Market dull, and littlo business doing. South Soa holders are askiug £30 17s. 6d. to £31 in bags. Buyers olfer £30 12s. 6d.' for September-October. Jute.—Nativo first marks aro quoted at £35 per ton. WHEAT AND FliOUlt. London, October 12. Tho wheat and iiour afloat for tho United Kingdom totals 1,82a,0C0 quarters; for the Continent, 2,360,000; Atlantic shipments, 634,000; Pacific, 25,000. Tho total shipments to Europs during tho week amounted to 1,850,000 quarters, including 20,000 from Australasia. The final report of "Tho Times" on the British wheat crop estimates tho yield at 99 per centum, compared with an average of 90 for the past ten .years. HIDES, LEATHEB, AND BASILS. London, October 12. Hides.—Little businoss doing. Queenslands, 9id. and 9Jd. per lb.; Sydneys, all at 9d. Leather—Market firm. Stocks arc small. Best heavy Sydneys, 13{d. and 15d.; Melbournee, 13d. and 16d. Basils.—Fair. demand. First Sydneys, 15$ d.; New Zealands, 16|d. to 22d. METALS. London, Octobcr 12. Galvanised iron, first brands, £16 a ton; second, £14. Tin-plates, 13a ljd. per cwt., and 14s, ljd. Angle steel, £5 17s. 6d. per ton. Tram rails, £5 13s. 6d. per ton. Antimony, £6 per ton for 60 per cent. ore.