COMMERCIAL ITEMS.

Dominion, Volume 7, Issue 1927, 9 December 1913, Page 10

COMMERCIAL ITEMS.

INVESTMENT SHAKES. ■ There was an absence.o£ business'in Investment. shares yesterday,- and-tho-few! auotations recorded were as under:— Buyers. . Sellers. £s. d. ;• £S. d. National Bank ' — . • 530 N.Z. and. Itivcr'l'lato .... 2 0 6 Wellington Investment ... 0 10 9 — Well. Trust and I/onn ... 7 5 6 7 9 0 Chrifiitchurch iGas 6 15 0 — Wellington Gas (£10), .... — . 17 0 0 "Wellington Gas (prof.) ... — 10 3 National. Insurance 2 10 0 — Gear Meat (£4) ! 13 5 0 — Union Steam — 14 6 Westport-,Stockton — . oil 0. it. Banks — 9 Golden Hay Cemeiil. 0 17 6 N.Z. COll. Dental 10 9 — EXPOKI'S OF PIiODUCK. The valuea of the principal products exported from New Zealand during tho past month, compared with tho figure:; for November last year, eliow 03 under:— . ■ Nov.. 1913, Nov., 1912. ■'£ -■ £ Butter ' 242,907 266,645 Cheese 110,336 132,123 Beef 109 938 Uutton— Carcasses 17 31,965 Less and pieces... — 45 Lnrnb 860 2,073 Wheat 48 4 089 Oats,- 1,780 ' 47,146 Potatoes 21 17,914 Hemp 30,258 34,874 Rabbits 9,529 4,756 Tow ... 2,844 2,815 Kauri gum 17,147 33,276 . drain and pulso 3,260 12,203 Hops ... — 12 llides 4,539 22.646 Skins 26,024 63,960 Tallow 4,237 22,047 Timber 18,593 30,741 Wool . 29,912 312,161 Go'd .. 14,776 105,659 £517,197 £1,148,094 N.Z. BUTTE)! KM! AJIEIUCA. The reduction of tho Americau tariff will ultimately prove of benefit to New Zealand in respect to many commodities, including wool, but butter, it seems, has already been favourably affected. The following is nn extract, froni a Washington .iournal of recent date:—Among tho developments incident, to chnncc.s in tho tariff legislation, the prospective importation of New Zealand butter constituted n, feature of considerable commercial interest. It is estimated Unit comethiug like 2,100,CC01b. of butter have been ordered by j'upet Sound dealers,' delivery in most cases beins contingent upon the reduction of tho tariff from 6 to 2J cents a pound. That is a- very considerable percentage of tlio amount ncce-:sar.v. to be shipped in' to make nn the deficiency in homo production. and if all these orders are filled, tho disposition of the butter in likely to prove something of a problem. At the present time it can bo laid down at figure which will nermit of its being iobljed at approximately In. sd. <i pound, which is not a marked reduction from the prices at which storage butter can bo secured in tills country. The. similar ..imports at Atlantic seaboard and othor coast points are liable to be a determining factor in the butter market. Aside from the possibilities of a delay In, putting the new rehedules into effect as a final feature of the Bill, tlicro is an element of speculation involved in prosGUt purchases that renders it somewhat (mestionable. though the new source of supply is readily recognised as likely to become an important factor in the future.

AUSTRALASIAN GOLD PRODUCTION. The cold output of Australia and New Zealand for the tirst ten months of tills year was approximately 2.117,668 fine ounces, of a. value of about £9,CC0,P00, these llßiires ehowins a. decrease, of about 70,218 lino ounces, or a. difference of about £298,500 in value a3 compared with the corresponding period of last year. A comparison of the figures for the ten months is as follows;— ' "12. 1913. Oz. ■ Oz. Victoria. 395,269 364,718 New South tt'nles .... 137,366 123,3<!6 Queensland 290,681 220,053 West- Australia 1.059,501 1,084,011 Wouth'-'Auetralia 6,500 7 coo Tasmania 25, CM 3oicco Commonwealth 1,911,317 1,829,128 New Zealand 276,569 288,540 i 2,187,886 2,117,668 VENDORS' AND PROMOTERS' SHARES. AmoiiK the matters discussed at the recent conference between the representatives of the Melbourne', Sydney, and Adelaide fitoclc Exchanges, says the Melbourne "Areas," was the adoption of a uniform method of treating companies eeekinE official quotation for their shares. One Important detail in this connection is the t.yiii2-up of vendors' or promoters' shares In investment companies for a specified time, during which Hitch non-subscribine portion of a company's share i.seuo cannot be dealt in. The chairman of the Stock Exchange of Melbourne (Mr. W. J. Itol).prts) announced recently that it had now necn dccided that on and after November 13. 1913, no. official quotation shall be (.'ranted to shares in any tr.adiuc or investment company issued to vendors or promoters in terms of the contract or contracts registered by the Registrar-General in any State of the Commonwealth after November 12. 1913, either until six months after tuch cnirij:o.nv has been registered on the official list of <ir:v of. Ilm Stock Excli!in::es of Adelaide, llriebaiie, Melbourne, and Hyd-

ncy. or until after tho publication or the first balance-sheet of the compauy. Hitherto tho tying-up of vendors' shares Jjas rotated only to mining eompanies for l which a period of six months has been fixed irrespective of whether a balauce-eheet is issued or not. , CUSTOMS HEVKNUK. Customs duties collcetcd at the port ot Wellington yesterday amounted to £2263 lft?. lid. OAMAItty WOOLLEN CO. (Br Telegrnph.—Press Association.) Oamaru, December 8. The thirtieth annual meeting of the Oamaru Woollen Factory Co. was held today. Tho annual ronort showed that Ihe net proflt for tho year amounted to £2031 Bs. 6d., and. with the Pinn brought forward. makes n total of £3486 16s. <d. The dividend for the yep.r i« 8 per cent., and there is carried forward a stun of £1132 to. The retiring' directors (Xlosrs. P. M'Callum and G. JI. Procter] were reelected. CHBISTCHUKOI WOOL SATjH. (Chrlstchurch, December 3. Tho offering for the first wool salo of the season, to be held on Wr.dne?*day, 1-ota).-? 1'!,409 bales. The total for the December sale, 1912. was 17,691 bales. LONDON WOOL SALES. Br Te2erraph—Press Association—Copyright London, December 7. At the wool sales thoro was good demand for merinos at late ratw. Triceo for crossbreds were irregular. To date, 117,257 bale* have been catalogued. and 105,614 cold. The following prices were realifcd for the fleece portion of tho clip named:— Ashford, top price 12id„ average na. ireesrs. If or ray, Pobcrts and Co. yesterday Teceived tho following cablegram From their London friends. Messrs;-Sanderson, Jturray and Co.. dated December s:—"Compared with last London sale's closing rates, crossbred greasy, coarse to medium, declined 5 per cent." FROZEN' MAT. London, December 7. The Incorporated Society of Meat Imoortera' Smlthfield market Quotations for tho undermentioned claseee of frozen meat are based on actual sales of not less than one hundred carcasses of mutton or lamb, or twonty-ilYe Quarters of beef of fair avercge quality. Tho a notations aro not for 6clected lines, but for parcels fairly representative of tho bulk of the shipments now on tho market. The nrices which follow are on tho average a farthing per lb. more than the values ex ship, this differ-. enco representing tho -averaso cost in expense, handling, conveyance, and eel line the iueat:— Jfov. 29 Dec, 6, Mutton— d. d. Canterbury light a • * Canterbury, medium 4 • Canterbury, heavy. * * Southland 4j{ 45 .North Island, best 4| 5 North Island, ordinary «l;f $1 Australian, light 4 Australian, heavy 315-16 4 ltivor Plato, light • * River Plate, heavy 41- 4i Now Zealand, ewes 313-16 4.V Australian. ewci3 ' 33 Itivcr Plate ewes • • LambCanterbury, .light 53-0 53 Canterbury, medium 5£ Canterbury, heavy 5 5JSouthland 5 * North Island, ordinary 5 * North Island, selected ... * • * Australian, bes-t 5} 53-8 Australian,, fair 5J- 55 Australian, inferior 5 53-16 Hiver Plato, first * • | Kiver'Plate,-'second ..: 4i -42 I Deef— 3Ccw Zealand, ox fores ... 33 4 New Zealand, ox hinds... 4J 4^ Australian, ox foixis 4 4 Australian, ox liindt? 4 7-16 4 7-16 Itiver Plate, ox fores o?, 4 PJver Plate, ox hinds .. 4j ' .. ]tivcr Plate, chilled foros 4 .4 JUver Plate-, chilled liinds 4fi " '5 "None offcrina. w ■ V BABBITS,; There is a slightly bettor demand, and importer* arc trying to raico prices, TUiMr noun. London.' December 7, The wheat market 5s firm, but inactive. $[■*. 9d. has been asked and 35«. 6d. bid for Aii'tralian January-Tcbruary ship* incut-. • The wheat and-.flour afloat for the United Kingdom totals 1,650,CC0 uudrtors; for' the Continent, 1.885.CC0; Atlantic ehipmcnf?,, 351,000; Pacific, 53.CC0. The total shipiuento' to Europe during-the week amounted to 1,125,000 quarters, including 22.0C0 from Australasia. IiIUTISIf TIIADE HETUItNS. London, December 7. Board of Trade Teturns tihow that imports into the United Kingdom during* Novomber' decrcaeed by £2,514,353, exports increased by £3,597,801, and re-exports decreased by £1,330,717, compared with November of last year.

HIGH COMMISSIONER'S CABLEGRAM. Tho Department of Agriculture, Industries, and Commerce lias Toeeived the following cab'egram from tlio Iliijh Commissioner for New Zealand, dated London. December 6, 1913. (Note: Quotations, uiilcm otherwise spceitted, are average market prices on spot):— . Mutton-The market is firm,'and prices havo sliKhtly advanced for all grades on' account. of very limited fupply. North Island. sd. per lb.; ewes, 'lid. Lamb—There ia a sood demand for all lamb. Stocks <m hand 1 aro Jijrlit. Canterbury two's, 55d. pw lb.: hcavy-weieht four's. 5Jd.;. other than Canterbury, 5Jd. for liKlit-weight. Beef.—Tlio market is very firm owing to rfiort supply of chilled beef in consequence of larec shipments to America. New Zealand hinds. "!Sd. per lb.: force, IA.; elullea hinds, 5d.: fores, 4il. . Butter.—The market is finn at the advance. New Zealand choicest is in great demand dtving to short supply. Danish, per cwt., 125s- to 132;.: Now Zealand, 12Es. to 130-.: Australian. 118s. to 124«.: Argentine. 118s. to 1225.: Siberian, lflte. to 112s. Cheese.—'The market is firmer, with a fair demand. English cheddar. per cwt., 80- to Ms.: Canadian, white, 65'-. to 675.: coloured. 665. lo 685.; New Ze:ilaud, white, 655. to 665.; coloured. 6(s. to 675.; Australian. 625. to 655.; Dutch, 6k. to 635. I'.slimaled Canadian clie>se stocks at- London, Liverpool, and Bristol oil Dcceinlur 1 were 509 COO boxes, «K4iinst 365.000 time date list year. X'-w Zealand .and Australian stocks for same dates at London and Bristol were 5/00 crates against. £OCO. Hemp.—Manila: The market, has be«n very depressed during this week. Bears are selling, and prices have declined. The market somewhat steadier now. .loir current Manila, per '.on, .fiZ9; forward shipmoil t. £23 ss. Tho output from MaTiii.a lor t™ wi'ck W.-.S 26.000 bales. New Zealand* Tifn market has declined in sympathy will! Manila, but a good business Ms been deno at thejower prince. Buyers values to-day are New Zealand. sroorl fair, per ton, £27: fair, £24: forward 6liipment—&ood .fair, £25 12s. 6d. to ££5 155.; fair. £2<l I£g. Sisal: The market weaker and tendency downward. ijeliable uuolai'iovj difiicu'fc on account o? exchange fluctuating. Aporoximate vajuo is £27 per ton. c.i.f. Europe. Wool: The market is steady,.-and prices arc aboijt the i?ame.