COMMERCIAL ITEMS.

Dominion, Volume 7, Issue 1962, 20 January 1914, Page 10

COMMERCIAL ITEMS.

; INVESTMENT SHARES. Tho business done in investment share 3 yestorday. comprised two tales of Bank of New Zealand righto at £5 2s. 6d., L'nion Stoam preference at 19s. ICd., and 205., and Union-. Steam, ordinary, at 20s. The quotations wero as under:— Buyers Sellers £ s. d. £ s. d Bank of New Zealand .... 11 10 0 — Bank-N.Z. (rights) , 5 0 .0 - National Bonk — 5 7 6 Well. Trust and Loan .... 7 7 0 Christchurch Gas ' — 7 0 0 Palmerston North Gas ... 9 0 0 — . N.Z. Insurance 5 14 0 —. C.-B. Insurance 4 0 0 — Christchurch Meat 15 18 6 — Great Meat (£4) .: 13 10, 0 — Gear Meat (£ll 3 7 0 — Union Steam (pref.) — 10 0 Woollen .....' 3 10 0 — Well. Woollen (ord.) 4 0 0 — Taupiri Coal 113 — Leyiand-OBi-icn — 14 0 G. M. Banks, Ltd; 113 W.F.C.A. (£1) :. - 16 0 WOOL EXPORTS. The statistical comparison of tho wool exports from Australasia for the period from July 1 to December 31, as against ,those for the corresponding half oi 1912, compiled by Dalgety and Co., Ltd., eioits as under:— . 1913. 1912. Bales. Bales. Victoria 319,865 325,494 N.S. Wales 558,451 . 526,903 O/'&eiv'and ' 252,435 175,841 S. Australia, 131.140 145,460 W. Australia ' 52,512 51,960 Australian 1,314,403 1,225.65S Now Zealand 106,436 . 131,285 1,420,839 1,356,943 The net increase is 63.895 biles. Tho NewZealand figures show a shrinkage cf 24.849 bales, duo partly to the strike and partly to tho delay in shearing. FEILDING MARKET REPORT. At their weekly eale on Friday Mosers. A. H. Atkinson and Co., Ltd., of Feilding, report a fair entry of poultry, consisting mainly of old hens, which were dull of Eale; anything young or with condition was. -readily disposed of. Only a small number of pigs came forward, and sola at late rates. Farm sundries, furniture, fruit, etc., were competed for, and fetched usual prices. Poultry, at nor pair: Hens (old), is. 6d., la. 9d., 2s„ 2s. 3d., to 2s. 6d.; youuscr birds, 2s. 9d. to 3s. 3d.; roosters, 2s. 6d„ 2s. 9d.; cockerels. Is. 6d.. 25.; ducks. 2s. 6d., 2s. 9d„ os.. 3s. 3d.-, 3s. 6d.; drakes. Eg.; geese. 3a. 3d. Pigs: Slips. 15s. 3d.: storea, 235. 3d., 295.; porkers, 355. 6d.; eow( 363. Gig, £4 2s. Harries. JBs. 6d.. 565. Plough, £3 ss. Fruit:-Plums, Is. 3d., Is. 6d., 25., 2s: 3d. in half-cases; apple,?, 2s. 6d„ 35.; poaches, 3s„ 4s. 9d„ 55.; tomatoes, Is. 6d., 2.,. per quarter-case; cucumbers, Is. 6d., 25.; pears, 25.; potatoes (indifferent quality). 35., 4s. per sack; rhubarb. sd. and 6d. tier bundle; cabbages. 3d. each. THE OIL TRUST. In tho middle of December a cable message was published that a, stormy meeting of tho Oil Trust was hold in London. This concern was interested in the flotation of the Taraiiaki Oil Wclla. Sir John Lane Harrington, the chairman of the company, presided at tho meeting, and in the coures of his remarks thus referred to tho flotation of tho Taranaki Company:— "Tho British Empire Oilfields, Ltd., was used by the previous directors of tho Oil Trust for the purpose of carrying out tho flotation of the Taranaki (New Zealand) Oil .Wells, Ltd. No shares of the British Empire Oilfields had up to this date been issued, -and no shares havo ever been Issued to the public. £10,000 of shares were issued fully paid to the Oil Trust and £10,000 of shares wero issuod as fully paid to .Mr. H. J. Brown, who was then tho managing director of the Oil Trust. These nro tho only shares issued, with the exception of a small number held by the directora Of the British Empire Oilfields, and .paid for. Tho reason given for Mr. Brown's receiving this block e£ shares—whidi holding would havo given him a half interest iii any profits made by the British Empire Oi'fields—was as follows:—Mr. Brown pro■posed that Mr. J. D. Henry should be sent to Now Zealand to look ot certain oil properties there, but Mr. J. D. Henry had a sort of partnership arrangement with. Mr. H. J. Brown in regard to a newspaper they wero running. In considcration-and ! havo no doubt that this will appear as oxtraordiuary to you as it. did to me— of Mr. Brown's releasing Mr. Henry from certain obligations under the Arrangement I havo referred to. Mr. Brown received -£10.000 shares in tho British Empire Oilfields. In tho opinion of your directors tho dotation of the Taranaki Company should have been carried out by the Oil Trust. I do not .see that there was auy nced for this business, to bo put through bv a. separate company, so that one member of the beard might considerably benefit therefrom. (Hear, hear.) When I became aware of the arrangement, I determined that ag soon as I had obtained sufficient control of the company. I would see that the Oil Trust received the full benefit of the flotation of the Taranaki (New Zealand) Oil Wells, Ltd. ,As you will seo from tho annox to our report, Mr. Brown handed his holding of shares in the British Empire Oilfields to the dircotors of that institution, and tho same directors arranged to hand the shares over to tho Oil Trust. The Oil Trust therefore received the full benefit from the Taranaki flotation. All the money .necessary to carry out the flotation of the Taranaki Company was lost to the British Empire Oilfields by tho Oil Trust. The profit which tho Oil Trust made out oj the transaction was included in the last balancc-shect, and. with other profits mode, had to bo utilised for the purpose of writing off a portion of the preliminary expense** and a portion of tho losses mado by our predecessors. HIGH COMMISSIONER'S CABLEGRAM. Tho Dopartmcnt of Agriculture, Industries. and Commerce has received the following cablegram from tho High Commissioner Tor New Zealand, dated Loudon. January 17. (Note: Quotations, unless otherwise specified, nrc average market prices on spot):— Meat Generally.—The market is quiet, and small busing doing. New Zealand prices ■ ore firm owing to scarcity. Mutton: North Island mutton. sd. to as high os s>d. per lb. for best qnalit<-- eww. 4 3-Bd. I/omb: Sn change in prices. Beef: Stoek is almost. exhausted. Prices are firmer. New Zealand hinds. 4Jd. per lb.; fore?, 4d. Chilled hinds. sd. per lh.; fores. 'Id. ■ Butter.—'l'he market i 6 rather quiet and irregular. Buyers are scarco foi New Zea-.

land, beins cautious on account of' lafse Rhipments afloat. There is a.fpoor.-.-ac-. maud for ■ Danish c.t.'-per cut.'/- 1255. 1285.; New Zealand,' market ([Uict.--118n.: Australian, .in. fair deinaiid;'--llfc?:.to:

Ills.: Mberinn, 102s. to U2-:,.; unsaltcd-'Aii.' IraJinu and New Zealand are Is.'fst'o-:-2: lusher than salted. . .-... ■'\-;=s.Kfc»&'

Cheese.—The market remains eood demand. Canadian -white. per v cwt;: 68s. to i%. ; coloured, 6?s. to 705.; S"cw; Ze«K land white, ile. to 66s.;'.coloured,i66!'.;'to :

Hemu.—Manila: The market isivc'-'ai-l higher prices, chief,y owing to-'(J. : ' ! bri6i;M demand from U.S.A. Fair currcnt--?,racila;-per ton. £28 10s.; forward shipmen!;:.--£2B.'' Tho output from' Manila for the weel;'-was.-9000 bales. New Zealand; The>marke!,''i.i : ' firm. Dominion oirerinas are very smnl!, but a good business' ha* been done <U-see-.' ond hand. New 'ZeaMnd, good - fnir.'v.per.ton, £25; fair. £2a. These qnotniionejiiro,.. nominal. January .to March, good ; vfair,; per ton, £26 55.; fair. £24 5-:. : A, Sisal.—The market, it* firmer; Newt'.Vork quotation is 5} cente, oonnl, to' : i.£27.":tb':'£27. 10i- per ton, i-.i.f.. -Europe. ■ Tow.—The market ib quiet, .but. 1 the; de-' : m'and is expected to increase shorth-; ;soc.ond grade, oer ton. £11' 17?.--, 6d: third' grade. £10 17s. 6d. Wool.—The market is Kauri Gum.—The morket !s" timet,-? blit firm; prices aro nominal at lasjt, .quotations; 200 packages were offered,; but.nono were sold. - ■ ' - -'-v,-:: :■ Customs duties collected at tho'. Tinrt 'of Wellington yesterday amounted to ,£2EC4 ?e.' WHEAT AND FLOUKl^Jffi By Taiecrarh-lTeEa AssDriiUion--CojjjTlßhi: London, January'Sß; :::; : Tho wheat market , Ana-traliais Is lid. lower, owing to large' Australian shipments and aji iucroase in the fmai ofJicial estimate of the Can-adiiin croD-i.to 2a.W!«,fICQ cuarteri. The wheat and flour afloat for the United Kingdom totaJc 2,395,Ci3G {jaarters;; for-t-he Continent, 1,825,000; Atlantic.shipments. 719,000; Pacific, nil. The total shioaients to' Europe during tho week amounted to 1,840,000 quarters, including. 351,C00 Australasian. LONDON London, January" IS. Cor;'a.-The market is dull, ■ with, low buyers. South Soa. in bags. .i 29 per ton; New Zealand Hemp.—The market is dull, 1 January-March, ."hibmi-n;., £24 1 &. per ton. Cotton.—January-Februar.v shipment- of American middling cotton aro cleaning at 6.Bl'jd. per ib. Kubber.—Fine hnrd Para- rubber,-.; 35.'- id. per lb.: plantation, firtl latex.'-.2;.• id.; smoked sheets. 2s. 4d. .'-"sftCement—Engiish, ss. E-i. per barrel;! German, r=. l|d. ■ -i,.. Antimony is quoted at 2s. 9d. per. unit#. MANUFACTURED ' London, Jan.ua ty 13. Galvanised iron, first brands. £16,65.' per'' ton;.second; £14 as. Anglo'&teel, £s'9s. per ton; Tram rails, £5 12s. 6d. per ton. S;? : J:..; Wire netting, 62i per cent, . and; ■21..ttb:'.J:' per cent. o£f list prices, VICTORIAN London, January 18; -. _ The iietorian loan prospectus hss- been issued. Tho final instalment of SO per cent., is payable on April 16. , MEAT PRICES TO DHOP. (Eec. January 18, 5.5 p.m.). ■ London, -Januorv 18..-.. Experts predict that the prices ot ' imported meat will drop in t.ho near future, owing to the large cargoes afloat at tho present time.—Sydney "Sun" Special.""' LONDON WOOL SALES, London, January 18. : At the wool sales t.here were catalogued 45,993 bales, and 42,653 were told. There was a. strong market. Prices for good merinos were very firm in sellers' favour. Crossbrods wero 5 per centum above December values. .The following prices were realised for",' the fleece portion; of the clips named:— "Ivaropo;" top price 12d.,'avera'so l!-'3-8d.; "Dromore," I2ld. and 113 d. . Messrs. Dalgcty and Company, Ltd., Wellington, have been advisod from ikair London oQice. by cablegram, d-i-ted January IS, ■ as follows:—"The wool saico continue firm, and lately reported rates are fully maintained, 64's nov; costing 2SJd." . WOOL. HIDE & TALLOW SALE. Messrs. Abraham and Williams, Ltd.. report:—Wo held a. sale at Palmereton on Friday, and. us this :ale was. six weeks after tho December dale, wo had a largo catalogue to offer. Wo offered i£o bales' and bags of wool, 2500 sheep skins, 400 rjilf 6kins, 3CO iargo hides, and extra iargo quantities of sundries. Bidding throughout was spirited, and, with the exception of a few bales of wool, wo eold the whole of our entry,. Wool: liomney, Sid.; crossbred, 73d. to -9d.; lambs, «d. to 63d.; dead and pieces, 6d. to 7?d.; blaclt and pieces, 43d. to Csd.; bellies. 6d.; locks, 3id.; c-i-utch-ings, 5d.; picees, 43d. to Cid. Sheenslan?;Crosisbred, fifie, 6id. to Bid.; crasslircd madium, Bd.; crossbred. 6id. to 7id.; crarsbrej, inferior, 3Jd. to Sid.; dead, 4J-d. to 63.; dead hogg-jt:,'sd.; lambs, damaged, 53d.; hutehers' skins, at per piece; Crossbred. 7s. to "li. Bd.; pelts. Is. S'd. to 2s. 7d.; lambs, Is. 4d. to 4«.; salted pclte, Is. lOd. to 3s. Calfskins: Calf, sound, 93d. to Hid. per lb.; calf, elisor. 6 3-8(1.; cut and flippy, "id.; cut, fijd.; yearlings, sound, 73d.'to 10d.;'cut, 7d.: slippy, £d.; half-dry, 51(1. , Hides: Oj, medium weights, SJd-; ox, cut. 53d.; cows, medium weights, VJtl. to Bid.; light. 6}d. to 7M.; cut, 6?d.; slippv, sid. to f'Jd.; heifers and steers, 7 3-Bd,; horse. Bt. Sundries: Tallow, in casks, £25 15s. per ton; drums. £23 10s.; tins, £23 10-.:; rough fat. 10s. 6d. per ewt.: cow hair, &d. per lb.; cow tails, per dozen, Is. 7d. ..