COMMERCIAL ITEMS.

Dominion, Volume 7, Issue 1915, 25 November 1913, Page 10

COMMERCIAL ITEMS.

INVESTMENT SHARES. No business was done in, investment shares yesterday. The quotations were as under:—

LONDON WOOL SALES. The outlook for wool at the London sales, which commence this ©veiling, is not very promising. Since the September sales, the quotations for Bradford top 3 have declined, and tho Antwerp tales held towards the closo of last week were disappointing. I'uiq wools maintained their values, but medium and ordinaries grades wero cosier, whilo coarse croesbreds could not be sold. Tho position on tho Continent is reflected in this, and' London will show corresponding features. ' There appear to be a general slackening of trade, and industrial disturbances have rather added to tho troubles. Far too much, apparently* has been expected from tho admission of wool into tho United States duty free, and it is obvious now that whatever good i 6 to ro6ult from the American trado will not bo felt flt present. The toiio of the market at the opening to-day will not bo kuown until about midday to-morrow, but thoso interested in the trado will be satisfied if tie prices are on a par with the closing rates oC the September serieo. The Wellington wool sales will bo held on. Friday, December 5, and now that tho port is open- a fair quantity of wool will bo available, probably about 10.CC0 bales, which must bo regarded as eatisf&ctoTy in view of the industrial trouble. Prices hore will to eomo extent bo regulated by tho tone of tho London market.

THE POUT OF MANCHESTEE. The Manchester "Guardian" of October ■V. states"Considerable dissatisfaction continues to be felt by Australian and New Zealand formers with tlici limited area of distribution of their produce in tho United Kingdom. Instead of having all their shipments sent direct to London, they would welcome opportunities of shipping to West Coast porta, which servo such a tlnckly-popuiatcd area, irancheater offers exceptional facilities for this, and it is to bo hoped that the efforts which are boing made by the Australian and New Zealand Governments will be productive of some good. Frozen produce oan bo sorted at the Manchester docks into the marks and separate consignees at tho samo temperature as is maintained in tho hold of tho vessel from which tho produce has been discharged. It can either bo loaded in covered carte for tho local markets and shops, or into tho .insulated wagons for dispatch hy rail into interior towns. Then there is -the additional consideration that of n. population of, roughly, 55 millions London can only claim a clo«> proximity to 15 millions, whereas Manchester is tho better distributing centre to the remainder of tho population. Tho cold-air stores provided at Weaste, Miller Strcot, and in tho Meat Market at Water Street aro a further indication of loss damage being incurred by foreign, careasscs at Manchoster than at London. This is a matter which weighs very heavily with exporters in Australia- and New Zealand, because the claims for damago in London, aro a serious item in tho account sales returned ■to the farmers."

MEXICAN THADE. A cablegram from a Mexican correspondent of tho "Frankfurter Zeitung" states that the finances of the country aro in a very difficult position. Unless there is an unexpected improvement in tho political situation, or a very marked increase in direct and indirect taxation receipts, it will be absolutely imperative to issue a now loan before the eud ox the year. Exports are diminishing, and it ia impossible for tho mines to keep on producing under present conditions. Up .to nuito recently tho commercial position in those districts ■ not directly or seriously affected by tho revolution was comparatively favourable, for pricos of all export products were high, but during September there has been a decided chango for the worse. About half tho system of tho National Railways lias been closed down for months, and although the main stretch, Mexico-Laredo, has again been opened, the disturbances still prevent anything liko regular traffic. Tho cotton industry is in a very precarious condition, and unless railway communication with Torceon can be established and maintained, tho mills will shortly liavo to cloco down altogether. Tho opinion is strongly emphasised that no one but Huerta is sufficiently strong to Teintroduco peace and order in tho country, but it is thought that it will bo some years before conditions aro again Eettlcd.

CANADIAN BORROWING. Canadian borrowers' aro by no means discouraged by tho result of recent fesues, in particular of tho fact that the Canadian Government 4 per cent, loan for £5,000,000, which was offered at 99, had to be taken up by underwriters to the extent of 57 per cent., and that the City of Edmonton loan, for £900,700 in 5 per cents at 96 was publicly subscribed to tho extent of only 50 per cent., underwriters having to take the rest. When the last mail left Loudon an issue of City of Vancouver % per cent, stock (19531 to tho amount of £460,000, was to be offered at 95. In July last this city raised £510,000 in. similar stock at the samo figure, and until tho now issue was known this was quoted at 96. 'l'liero was talk of new iseues for Haskatoon and liegina, and it was understood that the City of Burnaby (8.C.) would offer £250,000 in 6 per rent. bondß, a somewhat striking indication of tho straits to which the lesser-known Canadian municipalities are put to raiso .money. TRcro is at present a. 4J per cent, ipsue for a littlo over £100,000,. which immediately fell s}, to 79, on tho knowledge of this new borrowing. The old loan was placed two years ago at par, but at tho present prico it yields 5j per cent. CUSTOMS 71EVENUE. Customs duties collected at tho port, of Wellington yesterday amounted to £2440 2a. Sd.

FKILDING MARKET REPORT. On Friday Mefsrs. A. H. Atkinson and Co., Ltd., of Feilding, sold a small entry of pigs, and poultry made top prices with keen demand. Old potatoes were dull of sale, ond new wcro in. good supply. Weaner pigs, 10s„ 12s. 6d., lis., 14s„ 15s. 6d.; slips, 17s. Gelding, £5 10a. Poultry, at per pair: Balf-grown cookerols, fe; roosters, 4s. to 6s. 6d.; old hens, 45., 4s. 6d.; ducks. 36. 9d., 4s. 6d„ ss. 3d., sa. 9d„ fo. 3d.; turkey hens, Us.; gobblers, 16s. to 20s ; geese, 75., _7s. 6d., to 95.; chicks. Is. 3d. to Is. 6d. ' Produce; Old potatoes, 6s. per eack; new potatoes, Bs. to 10s. per cwt.; cabbagcs, ss. per sack; gooseberries, ,4s. per 201b. case. .HIGH COMMISSIONER'S CABLE. The Department of Agriculture, Indus, tries, and Commerce has received tho following cablegram from the High Commis. sioncr for New Zealand, dated London, November 22. (Note-Quotations, unless otherwise specified, aro average market 1 prices on spot.);— j Mutton—Tho market is firm. There ard 110 supplies of Canterbury on hand, with <1, result that there is a better demand for North Island at 43d. par lb. Lamb.—'Tho market is firm. There is flo chango in prices.

tfcef.—Tho market is firm. There ie/no chango in prices. Chilled hind:, 5 fl-W. pop Km L°f e2 ' 3 - -

Hutler —The iliurket is quiet. but. steady with a. good demand. Danish, 1295. to 13le! per ewt.; New Z<yj|:ind, 12% io 1265.- \hrt ration, life, to 1225.; Argentine. 116s. to 120:=.: Siljcrian. 108s. ;o 112*. Tho present price of linsiiitod is 2s. lower than salted Oheese.-Tlus market is quiet, but Arm. with <i. rail- dlemiind. Canadian: WliMc 655. 11l 66*. pol,' : coloured, (-M to 67New Zealand: While, 645.; coloured Ms' to 65h. Ilemp.-JluniUi.: The market i« quiet wjth o. tendency in favour of buyers Phiilipine quotations «r# aim easier. ' Fair current Manila., £.50 per ton; forward shipment, ££> 10s, riifl output, from Manila, for the week was 20,008 bales. K cw Zealand: Tho market, opened dull In' at <•lose there Is a. better demand for forward mipmetU, Good fair prade. rvcr ton >?fi ss. to £28 l&j.; fair. £26 £25'1l according to position. Present quotations aro equal to £21 to £28, e.i.f. Furore cording to qualit.v. J-.iroj>o, aeCocksfoot ScOd.—Continent shippers' prices are. firmer. eon.«e l ',uCT!tly there ft moro Inquiry for New Zealand at, 51s 6rt per ewt. Heans.-Prices aro firmer: 37a. pc-r Mllb now nsked lor New fealnnd beans, f.a.o! new crop). I'.oglifh beans me scflW ai lower price*. * Wool.—Tho market for tops rontimses nl'i , hav ? "I'Bhtiy dccliiscd for •fill grades duntnj this week. Kauri Gum.-Tlio market is firm: 160 raelsnses offered, tuphi sold. n,,, , , tho end of October was 459 Urns'. Bai-k lirowu selected roscrar.ed, £7 JCa to £$• ?ST k J, mvn J' lr «P-ciuaiiei:-6croped| 955.' to chan B cd f ° r ° tsier grailcs are un -

FKOZEM MEAT. By Telegraph-Press Assoeiatioa-Oonrriehi mv T . . J-ondon, November 23. q ? oc,ctv of Mc«t ItnDorlers Smithflcld market otioUUons for tha undermentioned classes of ftozen meat a-ro based on actual Bales of not loss than oat mtnarea carcasses of mutton or lamb or tw«ntT-flva Quarters of bee.J of fair averiSß aualitr. TUo auotations are not for selected lines, but for narcola foirlv repreventative of the bulk of tho shipment, now on tho market. Tho nricss which folloir are on tho a.vcraco a fartWne Dor lb mora than the values si etrD. this differ! ones representing tho cost in th^ enS6 ' t ian<lJin S' oonv-eyanee, ana selline

RABBITS AND HARES. The rabbit market, .is very dull. New South Wales blues, 16s. 6d.. in store Harre—Market flat, at about 2s, 4d. WHEAT AND' PLODII. LondoJl, November 23. Wheat prices ore fulty aiaintafncd. There is fair inquiry for Australian cargoes, but the general demand is quiet. The wheat and flour afloat for the'TJnited Kingdom totals 1,655,CC0 Quarters; for the •Oontincnt, 2,330.000: Atlantic fcMnments. 594,000; Pacific, 15,CC0. The total shipments to Tiuropo during thf; v.cc;lc amounted to 1,720,000 auarters, including 23,0C<1 Auelrolasinn.

WIRE NHfTEfB. London, November 23. Wire -netting 13 quoted at 62J per eent. and 33 and s'per centi off .list.

Buyers. Seliers. r, , , T £ s. d. £ s. d. Bank New Zealand — 10 17 6 National Bank 5 6 0 5 8 0 Wollinirton Investment ... — 0 11 9 Well. Trust and Loan ... — 7 9 0 Christchurch Gas 6 15 0 6 19 0 Well. Gas (preference) ... 1 0 0 — N.Z. Insurance — 514 0 Gear Meat (£4) 13 3 0 — Gear Meat (£1) 3 ; 0 — Union Ste«m (ord.) — 15 3 Union Steam (pref.) .;.... 0 19 6 — Well. Woollen (ord.) — 4 10 Ward and Co 4 17 6 —

Mutton- K 7' 15 ' *Y 22 ' Canterbury light *" #' Canterbury, medium * • Canterbury, heavy » • Southland 41 as North Island, best 43 4! North Island, ordinary... 41 4 945 Australian, light .31346 3J Australian, heavy 3-3 315.1s llivor Plato, light • . 6 Itiver Plate, heavy 4| 41 New Zealand, owes 315-16 4 Australian ewos 311-16-Itiver i'lc'.c ewee ■ » I/amb— Canterbury,' light 53-8 5.3.8 Canterbury, medium 51 5' Canterbury, heavy s 5" Southland 5 5 North Island, ordiiinrv... 5 5 North Island, selected ... ® • Australian, beat. n Australian, fair 51_i6 e\.jj Australian, inferior 5 ' 5 Itiver I'lntfl. first * » Itiver Plate, second ♦ 4j n«tNow Zealand, ox fores 33 3i| New Zealand, ox hinds... <4 Australian, ox fores 33 33 Australian, on hinds 4 3-8 4J8 River Plate, ox fores 35 i} 'liver Plate, ox hinds .. 41 4i ' River Plate, chilled fores i'i 3il-l6 Elver Plate, chilled hinda 5 4J •None offering.