COMMERCIAL ITEMS.

Dominion, Volume 7, Issue 1917, 27 November 1913, Page 10

COMMERCIAL ITEMS.

U?VESME2CT SHAKES. A sale of Xcw Zealand Insurance shares at £5 14a., was the only tran-'ftetion iii investment shares recorded yesterday. The quotations were as follow:—

■ LONDON WOOL SALES. 'I'lie Loudon v/00l sales commenced on Tuesday, and. the tone of the market Is better than was anticipated, in view of tlm dullness at the Antwerp sales, and the drop in the prices of Bradford tops. According to the cable messages published in another column thero was a. good attendance of buyers, and- competition' war* animated. Fino land ' medium (juafcjty wool? arc a t-hade. lower than at the clofc of '.tho »Septeinber sales, but fcoarpu cross* breds > show no change iu value. This is.entirely satisfactory, because the prices realised at the September-October sales were good, and if these, prices arc maintained during the current sales, there will be jio cause for complaint. b'umo . woolgrowere, however, have still an idea that fancy prices will he obtaiucd for tho new clip, but those who entertain these views will be soon undeceived. Uuyers who in the past have travelled tho country buying up small» lots of wool aro this •year unable to operate, because the prices demanded arc a penny i» twonenr© per lb. above London parity. The Wellington brokers will no doubt seo that, woolgrowers arc furnished with accurate information, so that tho rcsrrves fixed for the wool U> bo offered- on Friday of nest week in Wellington may not be above the limits Axed for buyers.

THE SHIPPING SITUATION. A survey of the .situation ol the shipping trade forms the subject of an orticlo in the "Frankfurter Zcitunir." in which Its is stated Ihat the course of business in tho current year is regarded in authoritative circles os being entirely satisfactory. As to tho immediate future, no indications exist which would point to any reaction in activity, although the development of tho general economic posiion is also a. material basis for tho Future course' of shipping results. Alter dealing with the developments along the world's routes in the current year, the correspondent proceeds to refer to the prospective opening of the Panama Canal and its effects on German shipping. It is principally expected that a revival will take place in the Went of North America mid thu North-Western States of South America, which, frith •(he opening of the canal, will be brought into aipser contact with the East Coast. In tho case of the West Coast of South America there is alack iii the natural growth in thj poiuilaion, and he conditions of culture thcro are not of the kind that would at once necessitate a considerable development. Adequate .capital, mainly for t'ho mining and timber industries, and the seeurinfe of a. sufficient number of workers must form tho preliminary conditions lor a gradual economic development. In the freight traffic timber, fruit, and'corn will preferentially come into consideration. ESTANCTA PIiOFITS. The effects of the fight between tho American and Anglo-Argentine meat interest;, whitet disastrous to tho exporting and distributing undertakings, companies engaged in tho cstaneia business have made considerable profits. The American I)e?r Trust, by its policy oE buying up nil available supplier of live and dead stock, ha* raised, prices to a very higji, if not a. record. level, and tho ranches have, not licon slow to benefit from a. development so greallv in their favour. The report of tho Argentine' Southern Land exhibits an increase in total receipts ot-.-f.IUC9 or over 21 per rent, income from sales of live stock toso from £13.C00 to £23,000. whilst, that from woo! stores, etc., was practically stationary at £20,600. CUSTOMS KEVENUE. Customs duties, collected at the port of Wellington yesterday amounted to £2590 Cs. 6d. LONDON WOOL SALES. By Mcstraph-PreEO AB.'ocuuiMi~Cor.rriehk London, November 25. The wool jaUw opened brisk. Merinos arc an excellent selection. Prices for new clip are unchanged. Orotsbreds oj-c par to 5 per cent, easier. (Roc. November 26. 10.55 p.m.) London, November 26. At the wool talcs there was an excellent attendance, and good all-round competition, in which tho Continental buyers were the most prominent. Compared with tho October sales, the closing rates for line crossbred* were 5 per centum easier; "coarse" were unriiiingeii, all good lo aver<i"e "ombings: clothing merinos were well .maintained, but "earlhics" were very faulty, and neglected. HIGH COMMISSION UK'S CVHLKD MAIIKKT IIEPOItT. The Department of Agriculture,, Inilns. trios, and Commerce has received he following cablegram from the High (.oniini!sioner for New Zealand, dated London, November 25, 1913, regarding the opening of tho sixth series of colonial wool sales:"The wool sales have commenced. Home and Continental dealers arc huyins freely, but Americans are holding off. Inc price of superior merino is unchanged, but all other wools average a. halfpenny lower than at- lust sale. There arc about MO bales of New Zealand wool catalogued. PKIVATE CABLED KKI'OKTS. Messrs. lialgcty and Co.. Ltd.. Wellington, have receivod cabled advice from their Loudon office, under date November 25 as i'ollow«:-"The November wool sahv liavo opened with a good selection, and the number of buyers is large with competition animated. For merino wools, good quality anil •conditions, prices arc unchanged, but. heavy, earthy, and wasty wools are rather in buyers' favour. Crossbred wools, fine and medium qualities, par to 5 nor cent, lower. Coarse qualities, prices uuchansnd." Messrs. W. and G. Turnbull ind Co.. Ltd.. report having received the following tabic-

pram rroni l.licir Liincbn Imn.-c. under 'late November 25: -'Tine ami mciliuin. ilcc lllcil 5 per cent-.; coarse, iiueli.tnscil; shpes, about 5 jut cm I. down." Mr-sr.--.» l.cvin and <3i„ Ltd., have ■«■ (Pivcil the rolluwiui; cablegram frum their London agents iv.i(li regard tn Hie November wool stilus:-"Till! silo* opened tn-dny. Coarse crossbreds are iiucluillßvtl; lint titiil medium show a decline of 5 per tout, aa compared with the cln-inp; .prices of ]n-;1 .stiles. Continental buyers are opcratine; freely." Jwssrs. .Abraham anil Williams, Ltd., liiivc received the rnllouinu- cabletrraiu from their London aßem?, dated November 25:"The sales opened to-ilay to a rood attendance of buyers. I'licc--, ,i« compare:! with tho closing nitos of lost Kuril!!, lire unchaitKcd for medium nnd course cro.--.~-brcd anil merinos, ami the condition of the market is fair- The prices for finocros*)>rott snow a decline of 5 per cent. A3 compared- with last r-loxiue ratjj ut bet ■scries, with tho market iiuiet." Jle-asrs. Murray, I'oberts :i:ul (;«., Lid., have this day recsivqd the following cablegram, dated .November 2s. from IJi-uir London agent?, Messrs. Sanderson'. Murray and Co.:-"Lotidoii Wool Sales.-Sales h.-ivu opcucd with a, good tone, thatn. bciti<: a. largo attendance of buyers, and competition good. For crossbred line, market has declined 5 pec tent. I'W all other do scriptioiia «f wool, niarKct shows no change" ■ The Xow Zealand Loan an.l .Merennt-ilo Agency Company, Ltd.. has received t-lio following cablegram from iu London house, under date November 25:-Limdon Wool Snics.-Therc was a. full attendance at tho opening of tho sales to-day. competition by buyers being fairly active. ,\,j compared with last, sales' dosing: va.tc.-5 prices are about the same- for coarse crossbred and merino, and arc about 5 pev cent, lower for fine and medium erossbreds.- Tho openins catalogues were fairly iT-preu-nt.i-tive." The Bank of ? r cw Zealand- has received the following fable advice from its Loudon office, da-tcii November 25:-"The sales have- opened with strong comp«Mtinn nnd largo attendance of buyers, but without turntable change- in prices. There is good demand for all kinds of wool. Total net quantity Xew Zealand wool available, is 40,000 -bales."

ADELAIDE KALES. Messrs. L'jlgetv- and Co.. Ltd., report: - Our Adelaide branch cabled lis under dote November 25:—"Salf-i have been held, and 32,0f:0 bales were offered. 'For good wools, greasy, prices are par to 2J per ccr.'. lower; medium and inferior qualities, 2i to 5 per cent, lower.. Lambs'.wool, any chango is in teller's, favour." FINANCIAL CABLECHAMS. By Telegraph—Press Association -Copyright .London, November 25, Yesterday's closing utiotatious were follow :- B:uiU of Australasia, buyers £112, vcllcru £114. . '■.Bank of New South Wales, mtver,-, £39 155., seller* £40 153; Ban!; of Victoria, buyers £3 155., sellers £4 Union Bank of Australia, buyers £54 lCs., seller.-: £55 10s. National Bank of Australasia, buyers £S os., sElcrif £5 15s. National Bank of New Zealand, buyer: £4 155., .sellers £5 ss. Bank of New 'Zealand, middlo price, £11 lE,<. N.Z. Loan mm llercautiio Agency 4 per cent, debentures, x.O 10s. City of Melbourne, 4 per cent, debentures, £99. . Melbourne Harbour Trust, 4 per cent, debentures, £97. Melbourne Tramway Trust, 4} per cent, debentures, £IM. Melbourne and Metroinlitau Board of Works, 4 per cent, debentures £9f. Australian Mercantile Debentures, £91. Dalgety anil Co., ', per cent, debentures, £39. ' Dalgety and Co.'s shares, huycrj £6, sellers £5 lCs. - - . Melbourne Gas Co.'s debentures. £97. City of Sydney, £93. - Goldsbrough, ilort and Co.'s debentures, £93 Ids. Bank of New Zealand, 4 per cent, guaranteed stock, £100. IMI'KIUAL COXSOL3. . . , „ London, November 25. Imperial Consols are mioted at £73 5* as against £72 12s. 6ri. at last Quotation."".' •-' -SILVEI!. „ ~ . London, Novciuber 25. Bar silver is ijuoted at 2V l-16d. per ounce standard. I ' Turn" I Native first marks, liovomber-Deoomber shipment, are celling "at £$i 12s. 6d. per ton. ' METAL MAKKETS. (lice. November 25, 10.20 p.m.), „ London, November 26. Coppcr.-On spot, £65 15s. per ton; three months, £65 15s. £180 n '?°" ' 3POt ' £il9 " W t0 " ; tUrCC molUu '-- Lcad.-£lB 10s. per ton. WHEAT. _, , ' London, November 26. Tho wheat market is firm, 365. 6d. being asked; 365. 4Jd. was offered for an Australian cargo. The A'mertain visible supply of wheat east of the lloekics is 116,886,010 bushels.

Buyers. Sellers. •£ s. cl. i £ s. d. National Bank — 5 8 0 Wollimrton Investment ... — 0 11 9 Well. Trust and Loan ...... 7 5 6 7 9 0 Christcluirch Gas' '6 15 0 6 19 0 N.Z. Insurance — 5 14 6 Rear Stat (£41 13 3 0 - Gear Meat (£1) 3 9 0 — Uiiion Steam 14 6 •Itosgiel Woollen 3 9 0 C. Jl. Banks. Ltd — 5 4 0 D.I.C. preference 10 9 —