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COMMERCIAL ITEMS.

INVESTMENT SHAKES. The transactions recorded in investment shares on Saturday were: Union Steam . (ordinary at 25s 9d„ and preference at 19s. 6d.; and Wcstport Coal at 3Cs. 9d. The duotations wero a 6 uader:— Buyers. Sellers. £ s. d. £ s. d. Well. Investment — 111 ) Christchurch Gas — 7 0 0 Well. Stcatn Ferry (lEe.) 0 15 0 — Union Steam (nref.) 0 19 6 10 0 Mosgicl Woollen 3 12 0 — ' Westport .fioal 1 10 6 — N.Z. Con. Dental — - 12 0 V WOOL. The wet. weather of last week came at an unfortunate time, inasmuch as it interfered with shearing. Some owners of small lots have completed dipping, and it is estimated that about. ICO bales ' arc in 1 store in Wellington awaiting- tho first salo on. November 4. It is estimated that from lOCO bales to 1209 bales will bo available for the sale, but growers v.ho intend to submit their clips at the open- , ing sales in Wellington must have tneir - wool in store by November 1. Last year owing to adverse climatic conditions, tho salo had to bo postponed, but, this year, there is every prospect of the November sale being held. Generally speaking, there are indications that the local wool sales will be very well supported this season, and the email farmers in particular will • market their clips at thu local selling centres. BRITISH JOINT STOCK COMPANIES. New companies, to tho number of 6/% wero registered in .ungaud and Wales during Vii'L The same year witnessed the voluntary liquidation ot 2062 companies, and the removal of ltfi)B from the - register, tne latter step being taken beq'au&e the concerns struck oil' were 110 longer carrying on business. The net numerical increase was and at the end of the year under notice tho register held the names of about 52,tt0 companies. Liquidations durings the twelve mouths comprising 1b93 voluntarily, and 151 compulsorily. Tho aggregate of registrations was the largest for any single year during the la6t decade, and tno total nominal capital involved amounted to £164,971,453. In 1910, which gave the next highest record in number, namely, 5727, the capital was much larger, representing £205,146,594. In Ireland, 170 companies were added to the. liH, and the nominal capital represented £i.398,339, as against £1,834,010 on account of 116 concerns in 1906. Taking the whole of tho United Kingdom, tho registrations, which were 7367, esceded the number for 1911 by 923, and were tho.largest during any annual period 6ince the Companies Act, 18H2, came into operation. The total amount of nominal capital, for tho United Kingdom in 1912 was £174.004,837. which was £16,701.775 in excess of the sum at the end of 1911, but the average amount per company was a decrease of £791 in the later year indicated; the figures heing £24,410 and £23.619 respectively. At tho-closo of 1912, there wero | on the register of the United Kingdom 42.736 private companies, and out of MlO 1 additions mado last year 6106 came within that category. BRITISH SHIPBUILDING. . While 6hopowners are making handsomo profits, British linns engaged in shipbuilding have not participated in tho revival of trade. In fact, the iucrease in industrial activity has' militated against the shipbuilder, as everything he Uccs has steadily appreciated in value, whilo 4 the demands of labour have proved to bo 8 tne unknown"" quantity which has' upset 0 all calculations. From figures compiled, by c "Fairpb.y," .covering the operations of 6ix- 1; teen shipbuilding and engineering com- 5 panics, it appears that dividends ranged, y iii 1912 from 5 to 12-} per cent, in regard t to eleven concerns, while five made no re- c turn to their shareholders. In 1907 only 2 two companies failed to distribute pro- p fits, and trade is far ,moro active now f; than it was a few years ago. h POSITION OF RUBBER. 1 In their endeavours to reduce costs of T production go as to mitigate the great rc- f I dilutions in market values, plantation rub- s ber growers are agitating for the rcinls- I eion of the export tax imposed on rubber c by the Federated Malay States. In reply I 1 to representations 011 tho subject, the : council of the Federated Malay . States r Government stated that the tax was .justi- h ified, because the plantations could afford t< it. ,A well-known Eastern journal com- b ments on this statement in the following 4, terms:—"How is oue to pu<Jge whether ti the plantations can afford the tax. apart a altogether from the economic side of the t, question? A few estates are still paying high dividends, but leaving out all the & over-capitalised boom flotations strugging t, in a water-logged condition for some sort t, of haven, is a long list of estates, i, not belonging to wild-cat promotions, that have to adopt a cheeseparing policy to make both ends meet under the conditions a prevalent laet year and this. .In this conncction it will be .remembered that a * timely circular sent out by the Govern- 0, inent nipped all wild-cat coconut flotations in the bud, and had there beep some such (i diplomatic move during 1909-10., shareholders -j m many rubber companies would have bad t reason to be grateful. Much as one jnay. v vainly regret the existence of tlvso drags on the rubber industry, there are thou- ? sands who have been unfortunate enough J to sink their savings in Euoh dotations. V A remission of a tax at this juncture will 1 nt least be ono of the many ways in wjnch the State could help those in extremis, and in tho affluent condition of tlip public ["* finances the vevenuo so sacrificed could k easily be spared." f< THE JUTE MARKET. ® The operations of legitimate traders in b jute are seriously hampered by ihc wild q gamble in progress-in Calcutta, in connec- 7; tion with that product. It is notorious, states, "Capital," that during the past few ' months contracts of 25, ten, -and even flvo i) • bales of jute have been made, and a ease »• is roported in which a coolie cleared a £ profit of Its. 3 on a single-bale contract. ' Failing combined action on the part of 4 balers, shippers and manufacture!*—a species of co-operation almost ijnpusc-ible of J attainment—the intervention of the Gov- J: ernment must be invoked remarks the journal mentioned-. There is one way in ® which the authorities c-an ayist tho . v trade, and that is by endeavouring to in- j! creaso tho aim under .iute to such an y extent as to obviate any fear of crop L failure, such as is the basis of tho existing speculation. There is said to be plenty J 1 of land in Bengal suitable for tho culti- " vat-ion of jute, provided tlij necessary labour could be assured. The wildest- L gambling, it appears, h conduetr„'l in the A Bliitar Hazaar. where all restrictions on b the contract limit seem to have been rc- r moved, and there is no intention to deal in t' tho actual goods. It is proposed to bring 7i this bazaar, or any similar place, under 1 c

the Calcutta l'olice Act, as a coraipon sramins house, and to treat those concerned as offenders against the eauiblihc regulations, t Contracts of the character described are ; mere wagers on the rie-3 or fall in the f price of jute, just as are certain comrniti raents in the wheat trade here. Both are ' opposed to the interests of the legitimate ; trader. E BANKING IN INDIA. ■ The Bank of Bombay discount- rate was i raised on September 10 to 5 pc.r ccrjt., bringi ins it to the same level as.tjie discount : rates of the Bank of Bengal and tlie Bank of Madras. Still lusher rates aro usually I readied at a later period of the year. . when the export trade reaches its greatest ; activity. A 5 per cent, discount rate . early in September i-3, however, unusual, . and tho position ban directed attention to ! the effects of tho financial methods of tho ' Indian Government in toldinj heavy i amounts of coin in tho Treasuries instead of placing tho whole of ii« funds with ! the banks. The position is similar to that which has often arisen from a similar cause in America. CUSTOMS. i Customs duties collected at the port, of Wellington on Saturday totalled £1866 19s. sd„ tho amount for tho week being i £13,408 18s. sd. Tho returns for each of ■ the past eight weeks, compared with the figures for tho corresponding period of tho previous year, bliow as under:— !913. , 1912. £ £ August 30 15,676 17.218 September 6 20,434 10,446 September 13 22.266 26.132 September 20 22.671 21.553 September 27 41.057 15.362 October 4 21.857 34,<96 October 11 11,904 « 11,713 October 18 13,409 8,748 140,274 145,673 NORTH OTAGO MARKETS, f (By Telegraph.—Press Association.) ! Oamaru, October 19. Wheat has been offered a iittie more freely during tuo week, and one line uf 20N bushels of velvet sold at <s. yd. net at oountry stations. Other linee eoid were: lied chaff, 3s. 9d.; old straw Tuscan and Marshall's white at from Js. 7£d. to 3s. 8d„ all net, at couotry stiiti-aiw. Oats are i weaker, and current value 3 may be set . down at 2s. and 2,5. Did. for A Grade Gar- \ tone, but flue heavy samples will command , up to 2s. 6d. B Grade Gartons have changed hands at Is. lid. net, owing to merchants having orders to meet. TheTo was a ■ slight fillip in the potato market in the : early part of the week, and as high as j 455. was paid for prime lots, but the ; market dropped back to 4Cs„ and there j were no buyers even at the reduction. < , FEILDIKG JIAKKET REPORT.' ' i Messrs. A. H. Atkinsou and Co., Ltd., of 1 Fcildiug, sold on Friday a very large entry 1 of pigs at full rates. Weauer© made 13s. 6d., 14s. 6d„ l£fl. 6d., 165., 18s. to 19s. 6d.; slips, 20s. 6d., 225.; stores, 245., 26.5; light porfcsrs, 3fe.: heavy, to 555.; sows, 425. Poultry, at per pair: Hons, <s. 3d., 4s. 9d„ 65., 6s. 6d., ss. 9d.; half-grown eockoruls, 3s. to 45.; good sorts, 65.; small ducks, 45.; incubator chicks, Is. 3d.; turkey gobbler?, 1&3. Aged horses, £2 10s. Produce: Tabid ■ potatoes, Es. to 7s. per bag; Early Rose, £ seed, 10?. to 125.; cabbage. ss. per sack: cauliflowers, 95.; onions, 95. per ewt.: . pressed hay, £4 per ton; oatsheaf chaff, £4 t lEe.; ryegrass eeed, 2s. 6d. per bushel. NOTES. ■ A substitute for marble has been pro- j duced. The information is conveyed in a e report, by the United States Consul <u Keichenbcrg, Bohemia, and is tliat a citizen of that town ha-s invented & process for producing a substitute for all classc's of marble, including the most highly-prized Italiau, Egyptian, and Salzburg marbles, The claim, according to tho "Chamber of J Commerce Journal," London, is made that J this product is superior to genuine marble, J being stronger, .more substantial, and lesa liable to crack or damage, and tliat os* " pecially an working, boring, or in instella- * tion work tho danger of injury is much > less than with real marble, while it costs only one-third as much. This artificial *■ marble ie mado partly by hand and partly . by machine.' Tho cutting a.nd polishing » are done by machinery, the process being (i already in operation in Vienna, Berlin, • Mannheim, and Hamburg, and arrange- ■ merits have been made for felling the ritrjn _ to produco it, in France and Rus-Sia, whilo , tho sale of patents to a London company i; •for England, Ireland, Scotland, and V, aiies ■ is about to be consummated. The beer dut-v collected for the nast week J totalled £332 13s. 10d„ as against £277 13s. a for the corresponding week of last year. e

Permanent link to this item
Hononga pūmau ki tēnei tūemi

https://paperspast.natlib.govt.nz/newspapers/DOM19131020.2.121.6

Bibliographic details
Ngā taipitopito pukapuka

Dominion, Volume 7, Issue 1885, 20 October 1913, Page 10

Word count
Tapeke kupu
1,963

COMMERCIAL ITEMS. Dominion, Volume 7, Issue 1885, 20 October 1913, Page 10

COMMERCIAL ITEMS. Dominion, Volume 7, Issue 1885, 20 October 1913, Page 10

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