COMMERCIAL ITEMS.

Dominion, Volume 7, Issue 1956, 13 January 1914, Page 10

COMMERCIAL ITEMS.

INVESTMENT SHARES. Tho business done in investment Shares yesterday consisted of a salo of Christchurch Meat at £15 17s. 6d., and another of Union Steam, ordinary, at 253. The Quotations were as under:— . Buyers Sellers £ d. £s. d Bank New Zealand U 3 0 — Bank N.Z. (rights) - 5 2 6 Equitable Building ?■ 5 ? — Well. Trust and Loan ... 7 6 6 — Christchurch Gaa 617 6 619 0 Well. Gas (preference) ... 0 19 3 . — Standard Insurance — J » Union Steam (Ord.) • — ' 1 0 0 Union Steam (pref.) 0 19 6 Taupiri Coal 110 — Leyland-O'Brien — } s 5 C. M. Banks, Ltd. - 13 6 Golden- Bey Cement — 0 18 0 LONDON WOOL SALES. - The first of tho series of wool sales for the current year will begjn in Coleman Street this evening, and it will not bo until, in the forenoon to-morrow, before wo receivo cabled advices a a to the trend of the market. The.Antwefp,sale, held last week, was a depressing affair, but this sale eaniiot bo accepted as a gtude. The catalogue was, as usual, a email one, and probably consisted of the clean-up from Argentina and Paraguay. Tho tone Of the Bradford market is a better guide, and top,J have shown a firmness'. The Continental buyers will operate, becauso they _ appear anxious to compete for the American trade. The market will be active, with a very cheerful tone, and prices will be firm if there is not an advance in eonie grades.

GILT-EDGED SECURITIES. Tho depreciatiou in eilt-edsed and otlier securities has bceu a serious matter for thejo int-stook banks, and we are told that the Enzlish banks have used over two millions of their profits in writing-down these securities. Some years aeo, When tho joint-stock banks wrote down their holdof Impcritfl Consols to £Bu t thought that limit liad been reached, but tho price now fluctuates between £71 10a. and £72. But Con6ola will com© into their own presently. With the decline in trade aud the consequent accumulation of credit investors will again turn to .tho premier gilt-edged security for safe investment. BEER CONSUMPTION. The increase in tho consumption of beer in, Australia duriuir the last few . years forms a contrast to tho tendency in tho United Kingdom, where th«- consumption has practically ccased to expand for a number of years past. Iho following is a comparison of th© Commonwealth consumption of Australian beer, according to the returns of excise duty paid, for the six years from 1907 to J912 inclusive, with the duantity of British beer rotated for llomo consumption in tho United Kingdom during the same period, the Australian figures being in gallons, and tho Homo fteiires in barrels of 36 gallons^ Australia, Barrels • ' Gallons. (56gal>). : 1937 43.528,230 33,786,474 1908 44,635,680 32,939,472 1909 44,837,527 32,294.076 1910 48,777,596 32,630,1)73 1911 52,565,868 34.M6.675 1912 57,468,492 ' 33,913,21 V The Australain figures do not include imported bier.-tho imports of which in 1912 were nearly 4,000,000 gallons.'. The British consumption per head of population Is more than twice as larco an tho Australian but the tendency at llomo is for the uvoni'o to decline. In 1912 the Homo consumption, as shown above,' was 33,913i21J barrels, tho population bcint; about 451 millions while in 1897, 15 years previously, tho consumption was larcer, being 34,755.905 barrels, though the population was then only about W millions, an, inrronse of about 14 per cent, in tho population being accompanied bv > doorcase in tjie consumplion of boer. "This is doubtless n. contributory roason for tho unsatisfactrov. financial result of the Homo brewery industry, as apart from other important reasons a prirtically stationary aeeregate consumption of an article is not favourable to profltAaxniti*

BEEF IMPORTS LY UNITED STATES;. By Telegraph—Press Aswoiation-Copyright London, J a unary 11. The "Observer's" New York correspondent states that owing to the change in tariff in regard to foodstuffs, tho imports of Argentine and Australian beef have been largely increased. HIGH COMMISSIONER'S CABLED MARKET REPORT. Tho Department of Agriculture, Industries, ami Commerce has received the following cablegram'from the High Commissioner for New Zealand, dated London, January 10, 1914. (Note: Quotations, unless otherwise specified, are average market prices on suoU:— Mutton.—There is a poorer demand for mutton owing to Australian beinp in large supply. North Island, sd. per lbi/amb.—Prices are firmer owins? to short supply. Canterbury twos, 6sd. per lb.; thia season's Gear lambs, ex Ailicnic, have sold- at average price of 62d. to as high ce 7£d., according to quality. Beef.—The market is not Quito so firm. New Zealand hinds, 4 3-6(1. per lb.; fores, 33d.; chilled hinds, 433. par lb.; fores. 4d. River Plato Shipments received during the month of December, 1913. Mutton. Lamb. London 42,737 29,014 Liverpool 53,420 14,797 Cardiff ;« 3,(00 600 Mull 7,625 200 Southampton 9,291 3,859 Newcastle <5,000 7CQ 121,073 49,720 December, 1912 240,031 90,416 Butter.— I There has been no material change in the market, with a fair demand at slightly lower prices. New Zealand continues in . moderate demand. Danish, per cwt., 1275. to 13Cs.; N.Z., 116s. to 1205.; Australian, 110s. to 115 a.; Argentine, 110s. to 1145.; Siberian,. 10£«. to 1123.. Cheese.—The market remains firm, with an increased.demand, and prices are firmer for New. Zealiind. Canadian white, ner ctw ~665.,t0 68s.coloured, 6&3. to 695.; N.Z. white, 655.. to. ofc.;. coloured, 663. to 67e.; Australian, . 64a. to 66s Hemp.—Manila: Tho market cloredrather quiet. Fair current, per ton, £21 10s.; forward . shipment, £27. Tho output from Mauila for the weeks ended December 27, '1913, and January 3 and 10, 1914, was 16.CC0, 18,000, and 14,000 bales respectively. New' Zealand: Prices hardened.-in sympathy with Manila about'tho njiddle of this week, but the market has been quietersince, and closes steady.- Good fair, £25 10s. per tou; fair, £22 55.; January to March, goo. fair, per ton, £25 lfe.; fair £23.155. Stock at end of December was 1667 tons. ..... ' , Sisal.— I The market i 3 quiet, but steady. Quotations arc equal to £26 per ton for fair average quality, and £27 for superior. Tow;—Tho market is very quiet. Third grade, per ton, £10 17e. 6d.; second grade, £12 3s. 9d. Wool.—The wool market remains firm. CHRISTOHTJItCH WOOL SALES. PRICES GENERALLY FIRMER. Ghnsicnurch, January 12. Tho second wool sale of this season's aeries was held in Alexandra liall today, when 22,13b bales were catalogued, as against 2'/,Wo' at the January aaie3 last year. The condition of the woo lwas much tho same as that offered at the December. sale, and was not only heavier in grease, but liner than last season's clip. One experienced buyer says he has never seen such tine wool in New Zealand as has been offered at the Dominion saia*? thid eeason. Ono Canterbury clip is of luu's quality, the first time he had seen this high figure reached by New Zealand wool. There way a very larje attendance of buyers, and. a representative of Japan was an interested (spectator of the proceedings. Tho tone of the 6alc showi a decided improvement compared with that held in November, bidding being much keener aud prices were generally firmer, except, perhaps, in tho oaae of coarse and interior woqls. .Most improvement was shown in fin© halfbred wools, for which there was more competition on American account. Tho Continent were the principal operators, and Homo buyers showed more spirit in their bidding than at tho previous sale. Local fell* mongere did noto make large purchases, and tho woollen mills' representatives confined their attention chiefly to the merino wool that was offered. Only small proportion of the wool was passed in, and tho sale on tho whole was very satifiafctory.

Tho following was tho range of prices, with those given at: tho December sale shown in parentheses merino (12d. to 13d.), 12d. to 13d.; medium and inferior merino UOd. to Hid.), 9d. to 113 d.; super halfbred (lljd. to 13d.!, 12d. to 14d.; medium halfbred (ltd. to lid.), 10id. to llid.; inferior halfbred (7Jd. to 9}d.j, B}d. to lOd.; super Corriedale (12d. to 12{d.), 12d. to 13|d; medium and inferior Corriedalo (9id. to llad.), 93d. to lljd.; super three-quatrer-bred, Ud. to 12d.; medium- three-quarter-bred (9d. to 101 d.). 9d. to IOAd.: inferior three-quarter-bred (7d. to Bjd.l, 7Jd. to Bid.; super crossbred. lOd. to llid.: medium crossbred (Bd. to 9}d.), Bd. to 9d.: inferior crossbred (7id. to 73d.). 63d. to 7d.; longwool (Bd. to 9Jd.), Bd. to 10d.; Down wool (91d. to llid.). Bid. to lid.: merino pieces, Bd. to 9id. ; first halfbred piece 3, 9d. to 103 d., 9d. to ltd.; second halfbred piccea (53d. to BSd.), 6d. to Bid.; crossbrcd pieces Hd. to 7d.), 4Jd. to 8)d.; locks and crutehings (33d. to 7Jd.), did. to 7id. FROZEN MEAT. By Telegraph—Press AEsoclation—Copirritht London, January 11. Tho Incorporated Society of Meat Importers' Smithfield market quotations for tho undermentioned classes of frozen meat are based on' actual sales of not less than one hundred carcasses of mutton or lamb, or twenty-flvo quarters of beef of fair average quality. Tho quotations are not for selected linos, but for parcels fairly representative of tho bulk of tho shipments now on tho market. Tho prices which follow arc on the average a farthine per lb. more than the values cx ship, this dilference representing the average cost in oxpense. handling, conveyance, and soiling the meat:— , - Jan. 3 Jan. 10. Mutton— d. d. Canterbury, light * * Canterbury, medium Canterbury, heavy '* * Southland ? J North Island, best o 5 North Island,, ordinary 4J. d 1 • Australian, light 45 Australian, heavy ...........41. . 4 5-16 , ■ lliver Plate, light 4i .4i . Itivcr Plate, heavy , .43 . 43 New Zealand ewes 41 4i Australian ewes 41-16. 4 River Plato ewes * * LambCanterbury, light 6 J-8 * Canterbury, medium 6?i Canterbury, heavy 53 * Southland * North Island, best * * North Island, ordinary .. " , * Australian, best 53 53. Australian, foir -.. 53 M. Australian, inferior 53 53 Jtivc-r Plate, first : 5J 5n liiver Plate, second 51 ,51 New Zealand or fores ... 4 3J New Zealand o* hinds... ..4 3-8 4 3-a Australian 01 forrs 4_ 3? Australian ox hinds ' 43-8 33-16 Stiver Plate ox fores 4 35 River Plate, ox hinds « "> River Plate chilled fores 3 10-16 4 liiver Plate chilled hinds 43 43 •None offering.

RABBITS. The market is steady, and prices are unchanged. HIDES AND LEATHER. ' London, January 11. Hides— Queensland. 8 13-16 d. to 8 15-16 d,; New -South Wales, 8 11-16 d. to 8 13-16 d. Leather.—Prices unchanged. Basils.—Firet Sydneys. 14id. to 153 d.; New Zealand, unchanged. WHEAT AND FLOUR. London, January 11. The wheat aru! fiour afloat for the United Kingdom totals 1.855.0 M quarters; for the Continent, 1.575.C00; Atlantic shipments. 461 .MO: Pacific (shipments. 25.0C0. .The total shipments to Europe during the week amounted to 1,510,CC0 quarters, including 192,CC0 l'rom Australasia. The «-he«t market is qniet. Cargoes of Australian aro steadily lield. There 1 a little bidding for car&ocp by steamers about to sail. 355.'3d. to Ssb. 4d. is The market closed dull tit fcd. to Id. declinc. CUSTOMS REVENUE. Cufltoms duties collected at the port ofWellington ycaterday amounted to £3074 2s. Id.