COMMERCIAL ITEMS.

Dominion, Volume 7, Issue 1929, 11 December 1913, Page 10

COMMERCIAL ITEMS.

INVESTMENT SHAKES. There were no transactions in investment 6hares yesteirday. The Quotations were as follow i— • Buyers. Sellers. £ s. d. £ s. d. Bank New Zealand 10 16 0 — National Bank - 6 8 0 Equitable Building 8 15 0 — N.Z. and Itiver Plate .... 1 19 6 — Woll. Trust and Loan ... 7 5 6 - Cbrifitchuxch Gas 615 0 — Wellington Gas (£10) .... ~ 17 0 0 Wellington Gas (prof.) ... 0 19 6 10 3 National Insurance 210 0 ' — Christchurch Moat — 15 17 6 Gear Meat (£4) 13 5 0 — Gear Meat (£1) 3 9 0 - Union Steam (ord.) — 14 6 Union Steam (pref.) 0 19 3 0 19 9 Well. Woollen (ord.) 4 0 0 4 16 Westport-Stockton, — 0 4 0 Kauri Timber — 117 6 C. M. Banks, Ltd - 13 9 Whitoombs and Tombs ... 6 15 0 3 0 0 IMPERIAL CONSOLS. _ When 'the New Zealand loan was floated in October there was a reaction in Consols, and now tho failure of the latent. Canadian loan las caused Consols to register tho lowest price on record. At the beginning of the year Coneols wero quoted at .£75 55., and after numerous fluctuations they touched £75 15s. on Ho.rch '5. eince when the tendency has been downwards almost continuously. The latest quotaWon is £71 Is. 3d., a.ud this pi-ice would he for cash and not for tho account. The decline as already slated is due to the underwriters of the Canadian loan being obliged to take up 83 per cent, of tho issue. Underwriting nowadays is not do strictly of the nature- of an insurance as it was originally, since a good number of those investors who have substantial amounts to invest do so by coming in as (underwriters, instead of as subscribers on the piiMic issue. Another factor is that there 13 more demand for issues which have mot with comparative neglect on th"ir Jlr3t appearance, and underwriters who havo been left with amount.? of stock are able to effect sales at a. slight discount on tho is3uo price. But tho underwriters must ho able to take up the stock, and hence there is 4 a satisfaction of other securities to provide the funds, Consols bcins the most readily saleable naturally suffer considerably in the shuffling. .While the money market continues stringent as it is at present there is not much nrcr»noct of any sharp Tecovery in Consols, but tho stock must eventually rice, and £77 is about their fair lovcl. At this orioe they would yield £3 fe. per cent,, which is the average rate for giltrcdged securities.

TKADE IJf ALLEN STREET. Fruit—Tho oranges by the Tahiti sold very freely, due to tho fact that owing to tho strike supplies from Sydney havo noi been available for eorac weok3. Californian apples arc selling freely, and it is expected that long before the Christmus demand is felt supplies in ftr3t hands will havo been exhausted. The banaaias ex Tahiti from tho Cook Islands mot with ready rale, and the fruit arrived in good order. It ia expected that the Maunganui from Sydney .due to-day will land about 2CCO cases of Australian fruit. Tomatoes in modcrato supply are coming from Noleon, and priees aro very satisfactory to growers. Cherried arc celling well, owing mainly to the fact that supplies that usually come on the market at this time are not available owing to th* disorganisation of shipping. ]!bok currants ami red currantn are more plentiful than last week. Tho Maunganui is bringing a delayed shipment of Mosstno. lemons, and thcee will meet with a good market. reaches and early plums are coining on tho market, and prices aro excellent.

Veeetablcs.-Cabbases ancl cauliflowers arc in full simply, rabbarrcs especially nro rxrcedinply plentiful. Green oeas hare fluctuated in value, but. now the. market i.= steady with, ample supplies to meet i*. qu'rempnt?. 7>'cw Potatoes.—Value." a.r« nnchanssd: for lorally-eromi tubers of choice aualltr, from Sj. to &j. p«r crt, it being isaliasd

Old potatoes are practically off the market, for there is now no demo.iid.

Onions.—Oalliorijlana aro m snort srap. Tily. and values have risen obornly, iho prico now boinj; £E0 per ton. New Victorian onions may he expected as eoon as shipping facilities arc provided. Vlocir.—An advance of 10s. per ton in reported to have, taken plaoo in the south, but tho WclllnKton quotation is uncaanEcd at. £11 per ton ex istorc. Fowls' wheat ha.3 advanced, prim-e wfcoJsbeinfc' Quoted at. 4s. 7d. to >.i. 9d. per hushc-l, and fair quality at 4<. m. Jtaize is in fair demand, at 4s. 9|l. to ss. per huslicl. Bran is in full supply, and the quotation continues at £4 lte. to £4 15s. per ton. Pollard ip firm, owing to ltehtnees of supplier, and tho market rules at £5 10s. to £7 per ton. Oatmeal.—The market is still bare, but further aupplics-'aie esnectod to arrive today. liollcd Oats—Thistle brand in fljlb. brigs, 10s. per dozen: arid eraamoata, 9s. 6d. Chaff fc< in short- supply, and prices have ailvancod slightly, beiii-s now £5 !53. to £6 per ton. Fresh eggs arc firmer, and are now sellinsr at Is. W. per dossn. Kuttcr.—Priaio chilled, in bulk, M. to lCd. per lb. Prussian blue peas aTo slosv of ralo at ss. to ss. 6d. per bushel, according to ta.mple. Partridge peas arc dull of sale at Is. 6d. to 9d. per bus!u?l. Poultry i 3 in good de.rnniid. Hens, 3s. to is. Bd. per pair; csckcfels, 3s. fA. to to.; roosters. Js. 6d. to '.e.; Indian Rntinef ducks, <s. to 5?.: Pckin and Ajlesbnry ducks, sa. Ci. to 75.; goslings, is. to Bj.'; turkey eobblerc, is. per lb. live weight; hene, 9d. to lCd. 1

CUSTOMS REVENUE. duties collected at the port of Wellington yesterda-y amotwtod .to £329-3 16s. 3d. HIDE AND SKIN SALE. Mcssre. DaJgcty and Co., Ltd., PalroerBton North, report:—At our usual monthly sale held on JSlonday we offered a. 6ood catalogue to a full atteudanco of buyers. Competition was fairly been, but prices for wool and eheepskina showed a decline owing- to- the recent Tall in the market to the extent of 3d. to Id. per lb. Hides also showed a, decline of ii. to Jd. per lb. on good lines. Inferior lots, Id. per lb. Wool: Crossbred, medium, Bd, to 83d.; coarse, Bd. to Bid.: inferior and lotr-slaincd, 7Jd. to 7Jd.; dead, 7frd- to 73d.; inferior, 5Jd. to 6id.; crutching-s, sd. to 6d.; locks, and pieces, 3Jd. to 5d.; pieces. s|d. to 6d.; lambs' wool, Bd. to black, &d. Sheepskins: Full-wool coarse. 6id. to 7!d.; medium and fine, 7£d. to Bd.; babt-wool, 6id.; dead, 6d. to 6}d.; inferior and damaged, sd. to 5Jd.; crossbred, damaged aniS broken. Ed. to 6d.; inferior and badly damaged, 33d. to 4Jd.; pelts, 53d. to 6d.; butehers' salted crossbred lambs and pelte, nt each, 6s. to 6s. 3d,; lambs, is. to 2s. 1.A.; pelts, Is. Bd., 20., 2s.' 3d., to 2s. sd. Hides: Ox, medium to heavy. Bid.; lir;ht, 73d. to Bd.; cow hides, best linrs. Bd.; (rood, 73d.: inferior and rough, 7d. to 7 3-Bd.; cut and slippy. s}d- to 6Jd.: ycaTlinge. 7d. to 81d.: yearlings, cut and slippy, 5Jd. to 6»d.; horse hides, 3s. 6ii. to ?.s. Calfskins; These declined to the extent of 2d. per lb., as compared with the very hifch nrien ruling at last eale. and in eonsenuMice a coneiderablo quantity were parsed in anticipation of eocuring better values. Sundries: Tallow, in tins, £1 3s, 6d. per cwt.; inferior, 165.; casks, £1 sj. to £1 65.; Toiieli fat, 135.; horsehair, Is. Sd,

' FROZEN MEAT. Messrs. Gilbert Anderson and Co. (Messrs. Melsop, Eliott. and Co., local agents), writing under date London, October 24. report as follows:— Prices during the week lio.vo fluctuated, finishing dearer. Recent high values for beef have attracted bigger supplies. Irish, e.nd Canadian are plentiful. Scotch bcol, 61d. to 63d.: English, 5Jd. to 6id.; Irish, sd. to 5?d.; Canadian. Ed, to 5Jd. Mutton trade is firmer; Eupplico fair. Scotch, 7Jd. to Bd.; English. 6W. to 7d. ;■ heavy Dutch, s!d. to 65d.: light. 6Jd. to 7d. English cw<is, sid. to SW. Tegs: Scotch, DA. to 81; English, 7d. to 7»d.; Duteh, 6W-. to 6W. Scotch hill lambs, 6ri. to 7J.d. Veal. 6d. to 9d. Pork, Cid. to 73d. Frozen mutton virtually unchanged, but tendency lower. Very few New Zealand and Plate in tho trade. Canterbury and small lambs 1-16(5. lower. Chilled beef much lower, Gupplies plentiful. Smithfield Prices. Mutton— Under 481b. 48.561b, 56-641b. d, d. d. Canterbury 43 45 45 Wellington 4j 43-8 4 3-8 Ordinary New Zea^ land 4i 4 5-16 4 5-16 Kwos<-Ncw Zealand.- 48-C-41b., 3 13-163.; Australian, JO-501b., 3 U-16d. ■ Australian- sheep, 3C-501b„ 3 13-16 d ; 50-701b., 3Jd. South American, 56-7211)., 41-Bd. Lamb^Undcr 361b. 36-421b. 42-301b. d. d. d. Canterbury 65 Si 5 Wellington 5 3-3 5 45 Ordinary New Sealand 51 42 - Beef—Now Zealand, fores 3h!.. hind.-i 4 3-Bd.: Australian; crops 318., hinds 4 3-Bd,; South American. lotcs 3ia\, hinds 4&d. Chilled Beef.—Sonta Americas, fores 3 5-16 d., hinds 5 5-16 d.

LOXDON WOOL SALES. By Telegraph.—Pr«ss AssocJotion-Copyrißht Lorr"on F December 9, The wool sales .clots with prices nfl. changed. Competition for best merino combingG was -well isaintaijic4. CTCS3breds wero very weak. (Rec. Decem'oer 10, 9.45 p.m.) London, December 10. Tho wool sales havo closed; $4,500 bales were sold for the Hottio market, 67,500 for the Continent, 3500 for the United States. while 15,000 bales were held over. "Faultis" were very cautiously supported, tho Yorkshire, buyers showing reserve. Franca and Germany operated freely, and Russia strongly, for good "scoureds," There was excellont competition.for tho best combing merinos at full September rates. "Sconreds" wero in plentiful supply, and prices wero irregular towarda tho clupe, tho average top-making classes, especially "wasty," declined 5 per cent.; fine crossbreds declined from Jd. to id.; medium and cc-arsc, 5 per cent.; slipes were not rjuotably changed: shabbies occasionally fsnnd toyour: merino lambs declined 5 per cent., whilo .crossbred lambs, were tinchaEged.

HIGH COMMISSIONER'S REPORT. The Department of Agriculture, Industries, and Commerce has received the following cablegram from the Hieh Commissioner for New Zealand, doted London, December 9. repirdinj the closing of tho sixth eerics of colonial wool sales:—"The wool sales havo closed. There has been good compotition from Continent, as manufacturers are busy, bat Homo trade is nuiet. and purchases smaller than usual. Americans aro still holding off. but have taken about 3CCO balc-s. Estimated values: Superior merinos, per lb.. Is. Id. to Is, 2d ; medium, lOd. to lid..- inferior, 3d. to 9-M.: fine crossbred?, all crade-s. Is. to is. 2d.; medium crossbred?, all grades, lOd. to U4d.; coarse crossbreds. all. grades, 9d. to !ld. Ten thousand bales of Sew Zealand won] are held over. Prospect; aro that trado i* likely to improve now that lower level values are established."

PRIVATE CABLED BEPOBTJ. The Bank of Now Zealand has rec-aived the following cable advice from its London office, .dated December 9:-"The wool sales (sixth series) have closed Arm for all kinds of wool, for which there is a. good demand. Total ouantity held over is 150,000 bales, of which 9000 arc New Zealand. Tho market is steady. Prices havo an easier tendency. Current prices for North Island fanners' lots in average conditions:—Coarse crossbreds, 36-ffs auality. led. to tOjd. per lb.; medium 4Ms's quality, IOJd. to lid. per lb.; Uric erairfireds,'6o'g fluality, ICSd. to 113 d. per lb. Current prices for South.lsland farmers' lots (Canterbury style) in avcratro condition;— Superior merino, 60-64's quality. ICJd. to lid, per lb.: superior merino, super, 60-64's, lid. to 12d. per lb.; half to ou«r!ef-bred merino. 50'o quality, lid. to Hid, per lb.

Tho New Zealand Loan and Mercantile Agency Company, Ltd., havo received tho following cablogram from London.-under date December 9; —12-4X03 bales of wool were sold at the wool sales of which 67.000 bales wero taken for the Continent and 3000 b&lo? for America; 16.CC0 bales wero held over. As compared with ki-st f.alcs' clcfling rates prices nro lower by about 5 per cent, for medium merino, fine scoured crossbred, ccarea greasy crosstircd. ficournd merino, inferior and coarse scoured crossbred; and lower by e.hout 5 to 7J per cent, for greasy merino inferior, medium ecoured crossbred, medium jrre-asy crossbred, and flno greasy crossbred.

Messrs. Lovin and Co., Ltd., havo receives tho following cabiegr-am from their London ogeni.3:—"Wool sales close at fciisht-lv bolow opening Tatcs, with goad competition." McEars. Murray, Roberts, and Co., Ltd., have received the following ea'dc' gram, dated December 9, from London-— "Soles havo closed, 15,CvCJ bales being hold over. Compared with last London saieo' closing ratci--, merino, be.-.t description market shows no change. AH otiicrdc' scriplions of wool del!not 5 per cert."

Messrs. Abraham and Wlllinnw, Ltd., havo received the following cablegram fi-orii their London agents, dated December 9-"-"The sales closed; to-day to a good attendance- of buyers, with this Americana operating sparingly. The prices, aa compared with the closing rates of last scries sijc-w n, declino of 5 per cent, for coarse' crorehred and merino, and 10 per cent, for medium and fine crossbred. The competition was fair and tho prospects are considered fair. Tho eo.les closet) with a. ,-|met mar. kat. The cro?sbrcn market !m; been tinfavourably affcct»d, prjaairxiij by jpssu' liUre old stock,".

BRISBANE WOOI; SALES; By Telegraph-Press .IU-Eociation-CopyiiSlil vllec. December 10. 9AS p.m.) Brisbane, December 10. At the wool Kilos the selection was only fair. and. compared with tho October sales, were from 2j to 5 per cent, lovrcr. Greasy reached 13id„ and sccurod 271 d.

FINANCIAL CABLEGRAMS. Icndon, ne-eemher 9. Yesterday's closing rjuowtions were an follow:— BaJik of Australasia, buyers £116, sellers £ÜB. Bank of Kew South Wales, huyers £3-3 ISs., sellers £39 l&j. Bank of Vietoria, buyers £3 155., scllors £4 Union Bank of Australia, buyers £55, sellers £57, _ Katio.nai Bank of Australasia, buyer* £5 55.. sellers' £5 los. National Bank oS Kerv Zcalaupj buyers £4 !55.. sellers £5 ss. Bank of New Zealand, buyers £11 10s., sellers £12 10s. X.Z. Loan end Jlercantiio Aseiicy 4 per cent, debentures, £90 10s. . City of Melbourne, 4 per cent, debentures. £9?. Jrelbourne Harbour Trust, 4 per cent, debentures, £57.' Melbourne Tramway Trust, 4J per cent. debentures, £100. Melbourne and Metropolitan Board of ■fforlis, 4 per cent, debentures £97. Australian Mercantile Debentures, £50. Dalgcty and Co.. 4 per cent, debentures, £89. Mcctr'n-nd Co.'s ehaj-cs. buyers £5 15s„ Belters £5 05. Melbourne Gas Co.'s debentures, £58. City of Sydney, £98. Goldsbrough, liort and Co. s debentures, £3-4 Its. Bank of New Zealand, 4 per cent, guareatecd stock, £93, WHEAT. (Kec. December 15, 10,30 p.m.) London, December 10. Tho wheat market is unlet,, prices are unchanged, and there is no inquiry tot cargoes. The American visible supply of wheat East of the Bockies is 121,995,000. bushole. METAL MARKETS.' (Bee.' December IS, 10.30 p.m.) LondoD) December '10. . Copper-On spot. £65 is, per ton: three months, £64 3s. M.; clo-ctrolytic, £66 lis. Tin.—On spot. £169 15s. per ton; threo month?, £in Ms. Lead, £17 12s. 6d. per ton.

- Lo-nden, Deeorobcr 9. Xafive first marks, Dcccmbor-Jo-nunry sliiprcent, are Quoted at £35 l&s. to £35125. (id. per ton.

6tIiVEE. London, December 9. Bar silver is ouoted at If* 15-16 d. per <ottnco standard. CHRISTCHURCH WOOL SALE. (By Telegraph— Press Association.! Christchurch, December 10. The firet woo! sale of the season waa held to-day, when there wqrc only 14,409 bales offered, as compared with 17,691 bales at tho December sales last year. The offerings aleo included the amount catalogued for the November eale, which was abandoned on account of the strike. The falling-off is partly due to tho broken weather delaying shearing and to growers holding back wool in eonseoueilcc. of tlse strike and to tho fall in prices. There was a large attendance of buyers, between 40 andiso occupying the teats in the ring, all sections of trade being represented. The fall in price-; recorded at the Auck. hind. Xapier, and Wellington wiltw prepared growers and brokers for a similar result lit the Christchurch sale, but prices were even lower than was anticipated, and a considerable proportion of wool wo.tf passed in. The' fail is partly due to tho lower tone of the Homo marketc, and partly to tho condition of the wool, which is not nearly canal to that of last year's clip. The wool is thinner and shows more yolk, and b not to clean as last year's. 'Phe class of wool offored was, however, Rcncraliy suitnblo for the Continent, and buyers for that market wc« the principal -operators, local woollen- mills took the little merino that was offered, and at prices fully eoual to lost year's, and they also purchased come of the best halfbrcd clips. "Wool scourers did not operate to any extents Tho drop in values wae very eonsidernMe for all classes escept morlao. 'There was fair competition thfonglwut up to buyers' limits, but the sale lacked tho animation that characterised tho sales last season.

The Tango of nrices was:—Merino. lOld. to 13d.; halfbrcd, 7id. to l?.Jd.: Corriedsle. Hi. to 12nd.: three-rtuartor-brcrd, 73d. to 10} d.; crossbred, 7Jd, :to 9*d.; lon-' wool. Sid. to 9M-: Down wool. ' 9jd,i. to lid.; halfbrcd piecf?, 5Jd, to 103 d.; ciwsbFed n-iccea* 4?d. to 7d.; locks ns-d crntchingß, 33d. to 7»d. At the December solo- last yenr merino wool sold am to 13d.; halfbrcd to 14} d.; f!orriedale til33d.: threc-fmarEcr-bred to 13id.; crossbred to Mid.; long ',vool to 10* d.; Down wool to 13d.; half bred pieces to 12d.; and crossbred pieces to lid.