COMMERCIAL ITEMS.

Dominion, Volume 7, Issue 1891, 28 October 1913, Page 10

COMMERCIAL ITEMS.

INDIAN MONETARY PANIC. Tho cables havo not furnished details as to the causes of tho. troubles that appear to have overtaken gome of tho banks ia India under Indian management. Tho succession of suspensions indicates a want of confldenco in eucli institutions, and the trouble has enveloped several largo Arms, tho latest being a pearl merchant. The collapse of the banks is to bo regretted, as it will tend to confirm the natives in their hoarding propensities. The formation of .throe "people's banks," as they aro called, was'dno to e desire to encourage tho email capitalist to put his saving to a profitable use. Caste prejudices were consulted, in every poesiblo way, and every inducement was offered to attract money from the ground into circulation. The European-managed banks only touch the fringe of the Indian monetary transactions, and those mainly identified with tho oversea, trade. It is evident that the financial operations of <130,C00,C00 of people, poor a3 ia the great bulk, must total a very large amount. Ia years of abundant production the power of India to attract gold is a potent factor fn the world's money markets, more especially as there is never any movement of tho metal outwards again. For centuries tho peasantry have regarded a holo in tho ground as the only safe bank in which to deposit their savings, and recent happenings are not likely to make them change their opinion. PtfLPKJD EGGS., The food research laboratory of tho United States Bureau of chemistry id conducting experiments in a number of eggbreaking establishments in order to assist the manufacturers in canning -perfect eggs for winter nee. According to the specialists of tho department, there Is no reason why eggs cannot bo broken, canned, and kept as an excellent food just the tamo no other products aro canned and kept for use when tho fresh supply is low. As in all canning, however, the specialists have made clear that it ie essential that nothing but perfect eggs- be canned and that they be cannod "under such conditions of cleanliness and kept in such low temperatures that they havo no chance to spoil. Under tho new system of canning, the egg 6 arc canned in rooms and with utensils that rival in cleanliness the appointment of the hospital operating room. Everything is sterilised, and those who actually break the eggs havo to clean their hands .much as a surgeon does before operating. . Each egg before being broken Is candled, 'and nothing but perfect eggs [roma into the breaking room. Each egg is broken separately into a cup. If. "by any chance, the egg is other than firstclass, it is not dumped into the can, but Is removed from the breaking-room and before the breaker can resume work, s'ne must clean her hands and sterilise all Iho instruments 6he has used. Tho actual breaking is done with eggs at a low temperature, end in a room where tho air ii=i cold enough to prevent any change m the nature of tho egg. The cans of egga are then sealed and frozen, and kept frozen till they go to the baker at the time of egg shortage. Through theso means the specialists are confident, that ?ood eggs can be canned at the time when eggs are plentiful, and thus provide an implo supply of reasonable prked egg 6 For bakers when eggs mount iit> in. price. Eags canncd under these condition.? are in! no sen<*o to be confuted with, the carelessly canned or doctored eggs put out by unscrupulous egg breakers and used by baker? as a choapener 'for rticir. cakes and other nmducts. FROZEN MEAT. In writing on frozen meat under date ! London, September 12, Messrs. W. Weddei md Co. state that the demand for all descr'pticns of frozen lambs during the week rns been very fair, -and with available supplies being 6trongly held a further jharp advance in prices has .taken place. V feature of tho market has been the good nciuiry for medium and heavy-weight ambs, which are, if anything, firmer, at ;ho advanced prices than the- lighter grades jwing to fair quantities of plain Scotch ambs now coming to hand, which sell town- a© low as 6d. per lb.* Very small i ;ccondary lambs are short, and aro sale ; tblo in the provinces at prices slightly m , idvanco of those Tuling in London. Australian lambs aro auotod at 4d. to sd. per b., according to weight and quality. There tre still no lUvcr Plate lainbe being mar- , Lot-ed at Smithfield. Mutton has also met ■ vith a very fair inauiry, and as -shipnonts from New Zealand and tho River 'late arc now bein- considerably curailed lioldors have succeeded in advanc- ( ng prices -Jd. per lb. Prime milium and icavy-weight sheep ore still in short eup- • ily. The fairly large arrivals of Auetror ian sheep, however, have prevented any .dvance in prices being obtained, and this Inscription- of mmtton closes ilrm at unhanged rates. There aro practically no j lust-ration ewes being offered. .-The small mantity of ItiveT Plato Ehccp/avoiiablc is Irm at round about 4d. per lb., but frac- < ionally higher prices are obtainable in he provinces for light-weights* Although { he actual demand for frozen beef at , Imithfiold ha,s been exceptionally, quiet dur- ' ng tho week, there llias been a fairly ac- . ive speculative inquiry for frozen) beef, • nainly on account of the passing of the j 'arilF Bill through the United States Sen- . ,te, which buyers in. London think may J avourably 'affect prices. Consequently .1 lolders have not been inclined to make ales and aro nuking in most cases very j iigh rates. Chilled beef ha-s met with a ] low trade during the past week, and with J he quantities marketed being quiet euf- < cient to supply tho demand values havo ( emained steady. i WOOL IN AMERICA. ] Now that Taw wool can b& imported < nto the United States free, of duty, the I tatifitioal position of the staple to Arnc- ] ica- is of interest. Towards tho end of Lucuat tho bonded warehouses in Boston. 1 few Yorlt, and Philadelphia held no less I han 72,G67,C001b. of wool, es against 65,77.0001b. at the corresponding period of 912. An increase, in tho stocks, of considerably over 20,000,0001b., auito irrespeoivo of what ia held in private and other < tores, is a very sorious block to any im- } lediato increased purchase of wool, olther ii Australia or in any other market. Fur- ' her investigation gives nothing to justify J , favourable opinion of the present con.- ; it-ion of the textile industry in tho Unit- ( d States. Tho-figures, which cover tho usinoss dono since tho commencement of 1 913 to the third week in August, show a f cry Ercat falling-off when compared with J he same period of 1912. During tho latter erkxl 128,2C6,C001b. were dealt with, whilst urinjr 1913, for tho same dates, only 72,- >■ W.OCOIb. went into consumption—a differ- < nee of 55,316,CCD1b. It seems to us that ( lie figures wo have auotod fully justify , ho opinion that the Australasian wool- " rower has nothing of great importance 5 0 expect as on immediate result of tho s liange just, brought about in /America. f, on the other hand, trade improves in lie United States sni the policy of free J 001 is continued, the change may mean 1 liat Araorica will become a much more j mnortimt customer for our wool than has . con tho case at any previous period. ,j ■ LONDON MARKETS. y Tsleiraph—Press Association—Copyright J London, Octobor 26. J Copra—Tho market is dull. South Sea ' opra is neglected. October shipments aro 1 uoted at £30 10s. per ton. i Hemp—Tho market is'ouiet. October-De-ember shipments, £29 10s. per ton, Rubber.—Fino hard Para. 3s. lJd. ppr lb.; t lantation, first latex crepe. 2s. lid.; emok- 1 d sheets, 2s. sd. . Cotton—October-November shipments of , riddling American cotton are selling at ' ,37d. per lb. ( JIETAiL GOODS. j London, October 26, ] Fencing wiro, £14 6s. Bd. per ton. « Polo steel, 115s. per ton. 1 Wiro netting 625 per centum mid 2i and I per centum off list. Aluminium is quoted at £81 to £85. WHEAT AXD FLOUE. London, October 26. [ The wheat and flour afloat for the Unit- ' [1 Kingdom totals 1,975,010 quarters, for i 10 Continent 2,040,C00, Atlantic shipments \ 15,000. Pacific 50,600. Tho total shipments j ) Europe during the week amounted to 600,000 quarters, including 25.CC0 from ® .ustralasin. t ■ i. t V t