COMMERCIAL ITEMS.

Dominion, Volume 7, Issue 1914, 24 November 1913, Page 8

COMMERCIAL ITEMS.

INVESTMENT SHARES. A. sale of Mosgiel Woollen .at £3 lte. was tho only transaction in investment, shares recorded on Saturday. The quotations were as under;—

MONEY MAIiKET. , The London money market exhibits morp stringency than a, week ago. ' Tho Tate for first-class trade paper is at 5 per cent, or on a par with bank rata, while for short loans tho rate has advanced from £4 ss. per cent, to £4 15s. per cent. Tho position appears to be much better on the Continent, tho rates in Paris ami Berlin [icing much lower than in London. In both theso capitals it is likely that a ccrta.ui.amount of "window-dressing" is coin" mi 1 v ! ow ,°f "'e early issue of loans, ilie «aiik of England figures oro satisfactory, that-is to.pay the proportion of reserve to liabilities continues high, and thcro i« therefore vory little danger of any advance in tho rate. Xho rothcr deposits'!.

°r credit account balances show <i fhrinfcago as compared with a year ago, indiuatr jiijg that there is lees money available. Ine present 'Stringent conditions are likely to coutimic for some time. Console and colonial Government stocks stc unchanged on the week, which goes to show that stockbrokers are doiug comparatively little business.

STRIKE CLAUSES IN BILLS OF LADING. Tho hardy attempt on the part of shipowners to get shippers to share their liabilities when the owners are subjected to any extra expense in loading or unloading their steamers through labour troubles, is meeting with such general opposition (writes the "Textile Mercury"), that it, appears likely to be abandoned. The scheme was met with a great outcry in Manchester, and it is probable that no shipper will accept the hills of lading containing t.lici objectionable clauses. Manufacturers and shippers have to compose fjmte enough labour troubles of their own without being invited to shoulder the burdens of the International' Shipping Federation—a body which has shown iteclf by no means incapable of managing its own- affairs. Nearly every Manchester and Liverpool association of shippers has protested against the action of tho 6hipowncr6. and Chambers of Commerce as far distant as Bombay and Shanghai have been making it known that they share tho objection. We shall probably hear 110 more of it. But the shipowners evidently believe in the motto, "L'audacc, l'audace, toujonrs l'audace."

. GLYCERINE PRICES ADVANCED. The official priccs of the Chemically Pure Glycerine Association were at the commencement of October advanced -by £5 to £95 per ton naked , for 5-ton Jots, London., Tho advance, according to the "Financial Times," has not been brought about by anything in tho name of manipulation, but is due entirely to the demand threatening to outstrip the supply. During the year there have been a few struggles in the Continental market for crude glycerine, but the association has always proved strong 'enough to control the situation. Crude glycerine at the beginning of September advanced by £5 or £6 per ton, while a- somewhat similar advance has alio taken placc in the dynamite descriptions ,of glycerine, which were quoted £80 per ton. At the same time those movements had been accompanied by an increase of £3 per ton in the quotations for export, and finally tho difference between first and eccoud-liand prices of commercially pure glyerine had been narrowed to £2 per ton. It was stated that the advancing tendency of tho better cla-secs of fats and oils has driven such makers to ■saponiflahlo material containing less glycerine, with the result that the output of this important by-product has been reduced. In addition, the demand lor both dynamite and commercially pure qualities steadily expands, and does not yet appear to have reached its limit.

CUSTOMS. • Orifitoras duties collected at thn port of Wellington on Saturday totalled £1907 16s. 5d. r the amount for the week being £25,970. Tho returns for each of the past eight weeks, compared with tho figures for the corresponding period of tbo ' previous'year, show as under

' £114.770 £141,402 • The beer duty collected last week amounted to £201 85.,'. as against £320 16s. 6d. for the. corresponding wee)' if.la6t year. ; FROZEN MEAT. Messrs.. Dalgety and Company, in their circular dated London, October 9, write as followB:— There is very little of interest to report concerning tho meat trade sineo our iaat circular.was issued on.September 25; business in all brandies has continued dull. There is just now, as usual at this time of year, an, intermediate season as regards mutton and lamb. New Zealand carcasses aro getting stale, and are not in much favour with retailers. The Australian 6ca<sou has hardly started, and. the summer lambs already here are not of very good quality. Some now season lambs are expected to arrive shortly from Now South Wales, which should realise a fair price if in good condition. Frozen mutton has well maintained its value, but lamb, especially second quality, has'fallen away, the lower gradps being id. per lb. cheaper. Chilled beef has 'slightly advanced in value, and frozen auarters remain firm at last quotations. ' Largo quantities of rabbits aro now on the market, and consumers seem to welcome the chango from frozen mutton and lambs. Also <i certain proportion of. tho demand has.'bcen diverted to pork, which is now in icasoii, although unusually dear. Wo understand that under tho now American tariff, from January next, live cattle, dead moat, and tho various forms of preserved/ meat will, under certain conditions, be admitted free, whereas they were formerly subject to "a '25 per cent, ditty. Wo trust this may be of advantage to Australasia, hut it may take some time to popularise frozen meat in the United States. In any case tho London market should bo strengthened by the probable diversion of supplies to the States from South America and elsewere.

' SOUTH CANTERBURY MARKETS. (By Telegraph.—Frees Association.) Oamaru, November 22. Tho 6how. and tho strike/ have disorganised. trad 6 'in tho Brain markets. Small lines of wheat have changed hands, velvet at 4s. Oid. net; .solid straw Tuscan at 3s. 8d„ lc®3 commission. The • other quotations are tho'same as last week. No oats wore sold, and lost week's quotations still stand. ' Thero is little or 110 demand for old potatoes, although there are a good many o£ them in the district.' LONDON MARKETS. By Teleeraph—tress Association—Copyright (liec. .November 23, 5.5 p.m.) London, November 22 Copra.—South ■ Sea copra, bagged, is in good demand, and is quoted — Buyers, £30 10s., sellers £30 15s. Cotton.—November-December shipments of American middling cotton, are clearing at 6.97 d. per lb. New Zealand Hemp.—'The market is firm; liigh point, fair; November-January shipment, £26 10s. per ton. . Rubber.—Fine hard Para, 3s. 13d. per lb.; plantation, first latex erepe, 2s. 4d.; smoked sheets, 2s. 6d, ANTWERP WOOL SALES.' London, November 21. The salos opened irregular, and with little animation; 1686 boles of La Plata wool wcro offered, and 819 were sold. Fine crossbreds and fine merinos of the new clip realised about last auction rates; medium and ordinaries. wotc easier; and'common crossbreds were withdrawn, as the offers were unacceptable. KAURI GUM SALES. London, Novembor 21. At the kauri gum sales- 161 eases wore offered, and eight wore sola. JUTE. London, Novembor 21. Native first marks, December shipment, are selling at £34 15s. per ton. METALS AND METAL GOODS. (Roc. November 23, 5.5 p.m.) London, November 22. Antimony is quoted at £2 9s. to £2 10s. 6tl. per unit. Quicksilver is quoted at 15Cs. Gnlvanised-iron.—First brands, £15 155.; second brands, £13 15s. -- Tin-plates. 1.0. coke. 12s. tOJid.; I.C. charcoal, 13s. 10.Jd.* Vcneiiig-wire. £6 17s 6d. per ton. Tron bars, £8 per ton.

. , . Buyers. Sellers. £ 6. d. f. a; a. Wellington Investment ... — 0 119 Ohristchurch Oa« 6 15 0 Standard Insurance — 1 > 1 12 6 Gear Meat (£4) 13 3 0 — Gear Meat (£1) 3 ? 0 — ■ Mosjficl Woollen — 311 0 Well. Woollen (ord.) — 4 10 N.Z. Con. lloutal 10 9 W.F.C.A. (£1) - 16 0

1913. 1912: £ £ > Oct-obcr 4 21.857 34.496 Octqber 11 11,904 ' 11,713 Octohcr 18 13,409 8.748 October 25 22,116 23.997 November 1 4,873 22,088 November 8 4,966 11,323 November 13 9.675 17,954 , November 22 25,970 ' 11.083