COMMERCIAL ITEMS.

Dominion, Volume 7, Issue 1954, 10 January 1914, Page 8

COMMERCIAL ITEMS.

INVESTMENT SHARES. Tlm Sfljea of investment sliaroa yesterdai woru Bank Now Zealand (riffhta) at £4 12g and ChrLstchurch Gas at £6 18a. 3d. Tho quotations were &3 under:— \ ' Buyers Seller# £ s, d, £ s. d. Bonk Now 7-ealand 11 2 0 — Bank New Zealand (rights) t 17 0 5 2 6 Union Bank MOO — ■National Bank — 5 5 6 Equitable Buildirtg 9 0 0 — Ji.Z. and River Plate 2 10 — Weil. Trust end Loan ... 7 6 6 7 6 6 Chriatchurch Gas 6 17 6 7 0 0 Wellington Gas (ord.l ... 16 10 0 17 0 0 "Wellington Gas (pref.) ... 0 19 3 10 0 Gear Meat (£4) 13 5 0 — Gear Heat (£1) 3 6 6 — Union' Stoim 1 «'s i s a

Taupiri Conl 1 1' 0- : ; -sit! O.M. Banks, Ltd. l»l.. | Golden Bay Cement "■C.SB i.6 X.Z. Con. jJeiital ■!' 0 MEAT FOE AMERICA. ■ In hia report to the liootd of Trade, Mr;' A. C. Ross, C.8., the British Consul-General at San Francisco, .gives 'some interesting information respecting tho meat tracto of tho; city, and the prospects of AimtWl&Sian business. With regard to live stock,' ho Btatcs that there appears to be no prospect of profitable business in live stock on account of prices. As there is little pasture for fattening animals in Call-:' fornia-, they would have t-o bo sent to Ari-7-ona or Nevada and returned later on at. A coat of 8 dollars per head. This ex-, pense, added to tho cost of freight from Australia. (60 dollars per head at present) and the purchaso of the animal, makes it impossible to compote tvith local cattlo eelling at present at 7 to 1$ cents per lb. : llvo wei»lit. Tho prospects of the frozen, and chilled meat, trado arc, however, mora encouraging. Tho report states that tho importation of fresh meat is- a compara. tively new business, tho first shipment having been made within tho past twelvo months. Various difficulties have arisen before end since importation was com, menced; Bom« of them havo been got ov-er and the others aro not insurmountabJo. Chilled beef up to now has not been imported, as tho United States la-we do not permit of the use of formaldehyde in tho preservation of foodstuffs. ■ This chemical forms an essential part of tho Linlcy process, vrhic.lt l'.-nj been so successfnl In Ar.rytralia and eluewhere, but poseibly eomo other preparation will bo found which has the same e-ffest, hut docs not come within tho provisions of the United States laws, or. cbcmicals may be dispensed with entirely. In the earlier stages of the business arrangements that would be fdtirfaA--tory to the United States authorities had to bo made providing for botk ante and post-mortem Inspection by qualified veterinary surgeons. . Further, the method of proving that such an inspection had taken place rcjarding the actual quarters imported had to bo agreed upon. This is now done by means of an Australian Government stamp placed, on each, quarter.' There appeal's to bo littro prejudice against this meat simply because it is frozen, but retailers are said not to be eufflcientiv careful in defrosting; and have been inclined' to do this too rapidly; hence the quality has been somewhat lowered before selling to tho consumer. Local meat usually comes from animals under three years old. It is, therefore, moro tender and in smaller joints than the Australian, Tho Australian meat .is from four-year animals, and ia, therefore, more mature, and doea not cut up into the comparatively small pieces which are chiefly In demand in San PrandEco. Possibly the Australian exporters _ could meet this difficulty by slaughtering younger animala. At' present the trade with San Francicoo hardly warrants this, but something of the kind will have to bo done if the local trade is to be satisfactorily catered for, and evetjthing points to tho possibility of an extension of trade and the advisability of a BPccial class of meat being prepared for the market. Tho best customers at present are t-ho ocean steamers frequenting tho and the caterers of minine and lumber camps where largo bodies of men aro boardod by their employers. Tho increased shipping that is expected after tho opening of the Panama, Canal is an important item in tho prospcois of this trade. This eamo ovent may also make possible competition froin tho Argentine, -K-hcro th© initial cost of meat is 6aid to be lower than in Australia. Tho railway freight between New York and San Fra-ncisc-o is 2.45 c. per lb.; so that at present it does not pay to land Argentine meat at, New- York and send It to Son Francisco by rail, but conditions will be different when River Plato meat can be sent direct tlirongh the Canal. The mitriiet for Australian moat io not restricted to the Pacific Coast, for during the greater part of tho year there will bo no difficulty in sending frozen meat by rail to such places as railway freight will permit, i'ho railway companies already use a large number of refrigerator cats for the transport, of fresh fruit during the summer months, which no doubt could be mado use of" for meat. However, it is possible that with tho pre. sent substantial diminution of tho cattlo stock of the United States, and the mpidly increasing population of tho country, n, demand will bo created, whjeh wii.l 'take up the supplies from both South America. aud Australia. Tho freight from Australia is lie. per lb„ o-nd theto ia no prospectof any reduction in this. The consignments aro not largo enough to fill a vessel, and there ia never a certainty of a return cargo to Australia,, as lumber, canned salmon, fruit, and barley are the principal bulky products from San Francisco. CUSTOMS REVENUE. Customs revenno colloctcd at the port of Wellington yesterday amounted to £8257 10s. 2d, ' . . LONDON MARKETS. Messrs. Dalgety and Company, Mmitcd, have received advice from their London ofileo under date January 8, by cablezram, »g follov.-s:—Frozen meat; itaiket firmer, but prices unchanged. Tallow: I'rirao Uiutton, 9d. per lb. lower; .good colour, mixed beef; 3d. per cwt-. lower. No colour, unchanged. CHRISTCHURCH WOOL SALE. (By I'elegraph.—Prcija Association.! ■>.. Christchurch, January 9. For the second wool eilo on Monday neit, 22,135 bales have been catalogued, againH 27,096 last year. ' ■ ' CANTERBURY GRAIN MARKET. V Chrlstchurch, .Tauuary 9. Tho local grain market is in a. waiting condition' at present-, as no business of any importance is expected until the new grain ijegiii3 to come. around. It will bo at least a fortnight before any grain threshod out of etocK is available. Tho only samplo of now grain 'on tae market was some rubbed-out Algerian oats, for which tho owner waa ohercd Is. 6d., but this prico was doclind.Old wheat is saleablo if it is offered, and odd .lines of both milling and fowl wheat continue to be picked up at tho advancod rate Bow ruling. It is reported that rust has done some damage to crops in North Canterbury, but to what extent wili ouyl be known when tlio harvest becomes more general.

BANK OF ENGLAND EETUBNS. By Teleeraph—Proas Association—Copyright (R-ec. January 9, 9.5 p.m.} London, January 9. The Bank of England return issued ior the week ended Wednesday, January 7, is asunder; Issue Depuiutixi . Note lisu# £51,163.G00 Gov.dobb ... £n,015,000 Other eecuri•ties ... », 7,434.000 Gold .... ... 36.019.000 f54.169,009 £51,408,000 Buiiu.™ DEPIRTJIES-T. Proprietors' Govt, securicwital £11,653,000 ties £13,099,003 Public de- Other securiposlts ... 7,185.000 ties.,. . ...32,092,000. Other daposits ... 46.rn.C00 Xetaj 25,.425,003 Best, j-dav suU other ... bills... ... 3.126.CC0 Coin... , u U003.000 £71,708,000 £T1,708,000 The leading items of the Bunk of EnirUud return afford the following companion . - This weak Last wesS £tst j-j tr Bullion ... ... 56.019.0c0 i&SK.OCO StMOiOOO Reserve 26.517.CU0 23.825.000 £2.230,C00 Note circul&iioa 20.013.C03 29,603,000 &JSS3JXO Public Deposits 7,18j,000 10,256,0U0 8,8-14,003 Other Doposits, 16,511,000 81.057.030 U,7ES.OUO Proportion of reserve ti liabilities ... 49.31 33.39 : ' • 15.03 GOVERNMENT SECOKITIES. The following are the latest Quotation! for Government, securities, with a com' parieon o£ those rulina last week:— Variation — computed Price. with ___ last Waelt. £ «. d, 24% Imperial Consols 7115 0 Uoehaoeei 1, ~N.5.\V.1933Jau.-July 98 0 0 20s hiiiher ii ..N.ij.W.lOM-SOMr.-Sp 98 0 0 Unehanced 81 „K.S.W.-1«SO-CO 88 0 0 Unchanged 3 .JI.a.W.IOMApI.-Oet 84 0 0 UncliauMd 1 „ Vic. 1920 Jan-July WOO tiachauc*,] as ..Vic.lWl-6 Jan-July 92 0 0 Uaehaieod 34 ~Yic,-tffill-19 , S8 0 0 WachaSjS 3 ..Vic.lMO-lOJan.-July 77 0. 0 -iOshiji.v 3i „S,A. 1016 Jan-July 88 0 0 Unchanged 3 „S.A. li) 16 Jau.-July 73 0 0 UueSianeed 1 ,QTUI9IS-'JI Jan.-July i! 8 0 0 Unctapcd 34 93 0 0 Unohanrnd 3 ..UTdlflaHTJan-Jiily 77 0 0 SOehiS 4 „N.Z. 1029 May-N#v, 99 0 0 Uncbiajed 34 „N.Z. 11112-10Jau.-July 33 0 U UnchaiJed 3 „N.Z. IMApril-Oct. 78 0 0 Unchnhgid 34 „ \V. A.1915-35 .May-Xov fcOOO Unehan-ed 8 „W,A,IWS-35.Uay-;\'ov 79 0 0 Unchaii'nl Bl „Tas. )U2oJan.-July !>7 0 0 IhieSiansred 3 ..Tas, IKO-lO Jau-July to 0 0 Unchanged BANK RATES OF INTEREST. "' The Dank of Encland rate was. on Jebruary 8, 1912, redufcod from 4 to S-j rer cent., and on May 9 it was further reduced to 3 per cent. On August 29 it was raised to A per cent., and on October If to 5. &or cent. It was reduced to per cent, on April 17, 1913. On October 2, 1913. dt was raised to 5 per cent., and on January 8, 19H it was reduccd to 4J per cent. The Bank of France rato was reduced from 3J to 3 per cent, on January 23. I'AiH. and continued at the latter figure until September 12, 1911. when it was raised to 34 per cent. On May 17. 1912. it wia reduced to 3 par cent., on October 17. it was raised to 3J per cent., and on October 39 to 4 per cant. Thfl Imperial i«ijik of Gnrmaosf on Oetober M. 1313. advancttd iU rate ef dJ«coitnt jo I P9i MBA, IM W I J«r 04IU. 03 Jio'iojl-

ber' !4:' (DriOcto-bsio:/-:-Ihowcb f: roduced''!to;sS; ; pciy''cet!tK;l':s'''.?'^ ►'i.Tho- loUowiijgi'*Te'\fcl.»ttr4*^ :; r ,l^*ll ,J'R'?' : ■ best'Lthreo :: . ; SvHS?-?=ft3fft' ?: :-' :, ¥toudon'vtVl'arls]Jß6r!lnS/; • y v J.' j r.vvc>cn■ 7 'i'i v >.''3,'. v 3S' - T- Last :r yea-rC-'S:;^^.i4l^' "sis i -. Short" loans? nro / guoied'ifityjii ipeiy.ccnl|; . Ber.. cent. ; coLoxiAr.'Axa OTiucr.'i'KODtici; ■' Wheat'.'--The - market' is ftti'ily. and ..'ijri-' chanced tfKs.'i-iOjd.f'' hM ; . bcei)..- paid. lori.au AustftOiaii. ; parcel.:-.due , 'toarrivo:carly, , .Aus!-, trolifln.- on 1 . spot.visjidull.. and/nominally,' unaltered.. Fiour is-diillv'midv uriebanged/S^i^;®" S- ■ Oats- are- <juic!.-.- 'I.a- S - I'kita,;: Jamiarr- ■: February r . Beans and peas .nio . <iuiet; : ond unci, a used. . :'s.- ' .- ■ Cutter.—Tho' Eiajket?- ;, closeßi. slow'-ioftef■ . £ood trade 011 Monday;-ToeGiiQy','.and Wed- '■ nesdar. Do.mGh,;-1275. ; " to .-1295.: -choicest ■ Australian,: 1123.-to'-li'is.'; choiecst.Kew Zedland, USs.'to 12Ss.-:'' :C-oloniaJ; arrivals, .tliis week excc-ad UC.COO boxes. . . ' '.' . . Cheese.—The..--- : niarliotc-■ : ue-. chonged. ' h ■*: Bacon is rt«ady, ? -.; A'fcW'AuftraUan Cum : berlands ©sld at'6os. t0 : '625.'..--v Apples— Tho % Pi'cGpccta l for-'the."- Austral 1 I'ian apple season ■ have -opened well, : os - JTova Seotlffin and Ca-lifornian-'ettsplics. will probably bo cleared be-foro tho flist oxriva.l of Australian. Bradford Tops.—Tho'.-market "is ' 1 guiet and nnoliangc*!. ' ■. 273i1.; ■ super sixties, 27d.s common sixties,-26id.;.'flfty-ajd.: fiftiea. -lSd.; - lorty-siice,. 15id.; forties, 14{d. -, 1 -- s Sugar.—fiermag -*beet;\flß. 'per. - cent, net litre, Cs." per e«t,T first, mftrSo eranulated; i.0.b., Ho-mburg, lis. 3d. . -. Vv"''-'"- '* THE HETAI. ' Copperr-Eieotrolytio. 1 ---. £61 ■ lCs. : '■ perj'ton. - Tin.—On spot. - i'l67 peri - ."ton; - .three months, .£l6B lis. I®ad, soft. foTeicn, £19 : per ton. i Pig-iron,—iliddlc6boro':'»Xo.-3,■ 575, M.'Spcr.' ■ ton. : -a i-'-if'. ' VICTORUS I'BODUOE ' MARKETS.. - ■: ' Melbcurns, January 5. • Vheot, 3?. SJd.":'-ftour, £8 10s.cats, s feeding. Is. ?d. to'le. Bjd.milling. Is. M. to Is. 9d.; barley, malting,'- Oape; 2s. ■ 5(1.: English, Is. id. to 3s. £d.; maiz<J,-3s. lod.;'bran, : St 10s.j. pollard,' £4 ; -l6s.;' potatoes, .£3. : 105.; • '£&.?■: London, S;.Bar silver .'is'. Quoted 1 at; Sfis.-Ojd. per ..ounce ■ standard. Vs:\