COMMERCIAL ITEMS.

Dominion, Volume 7, Issue 1970, 29 January 1914, Page 8

COMMERCIAL ITEMS.

■ INVESTMENT SHARES. ■;' .'" Tho business ■done in investment, shares yesterday consisted of Union Steam, preference shares, nt 19*. 9d„ Ito. locl.. and 19s. Mid. The quotations wcro os, follow :- Buyers ' ■ £ e. ft. ■'■ £s. d. Bank N<w Zealand It IV ii ,'-'■ — Christcbureh Gas ...: 6 17. 0 . ■■' 6 19 C Wellington Gas (£10) .:...: : - . .1615 0 Wellington Gas (pref.) .... 019 3 . 019 9 Standard Insurance ...;.. 112 6 ■ . , — Gear Meat (£4) ..-....;.'. 13 10 o'. •; ■*"■—■ Gear Meat (£1! 3 7 6.. — Union Steam :... 0 19 in '■ ■' 0 19 u Kaiapoi Woollen ...' 5 3-0 '■ — Mosgiei Woollen. 5 10 6 Well. Woollen (preference) — 3 3 0 Wcstport-Stockton — . 0 4 u 0.. It. Banks. 1.-td t {'r, ■■ - Manning and. Co 3 19 0 ■ — N.Z. Con. Dental 3 10. - Ward and Co 5 0 o.' — W.P.G.A. (£1) - „' 16 0 WELLINGTON WOOL SALES. The date filed for the next wool sola in tho City is Wednesday, February 6. it. is difficult to s«>e how this date can bo adhered to without .sacrificing tho" interests of tho growere. There will bo about 20,000 balo-i avaifable for tho sale, and burers will renuiro some time to cxamino and value tho wool. Tho Napier talo' takes -plnso on Monday, and, <is it is otiito as important a sale as that to be held in Wellington, buyers are not likely to miss it. In conseouenco ttaesei buyers will not bo ablo to return to Wellington from. Napier ill good time, and they will'havo only an hour or two to value ths wool in tho local stores. This is asking for tho accomplishment of what is almost an imvoseibiHtj'i ond tho rales should therefor© bo postnoned to Friday or Saturday, tho latter day for preferenc* If this is decided üßon the cloeinc of tho cctaloKues: will be deferral. 'NEW ZEALAND & KIVBIt PLATE LAND I MORTGAGE. ; Tho report of the New Zealand and River Plato Land llortirairo Company. Ltd., states that tho net profit, for tho year.ended Oc- ; tober 31, 1913 exclusive of the amount, brousrht, forward, amounts to' £44,914, aad 1 carapnrfH with £54,812 for tho previous year, beta? Un increase of £10,102. By the 'addition of £5179 brought forward, tho balance to the credit of profit and loss account amounts to £70,093. Out of this sum an interim dividend of J per cent, for tlw half-year ended April 30 was paid, leaving £52.593. which the directors recommend should bo oppMed as follows:—To payment of a, dividend of ,5 percent, isiakjnc: with tho interim dividend of 5 per cent, si total distribution of £35.000, belns id per cent, for tho year), £17.500; to reserve; (making the reserve £435,0e<i), ■£25,0C0; to bo carried forward. £10,093. ( CUSTOMS REVENUE, Customs duties collected at tho port of I yesterday amounted to £4469 ik. Id. . FINANCIAL CABLEGRAMS. By Telezraph.—Press •Association—OoDTrlsht London, January 37. Yesterday's closing quotations were as follow:— Bank of Auevralaeia, buyers £118. sellers £128. Bank of Now South Wales, buyers £40, Seller:* £41. , . „..,,., Bank of Victoria, buyers £4. sellers £4 106. fin ion Bank of Australia, buyers £56, sellere £5?. , National Bank of Australasia, buyer* £5 65.. sellers £5 15s. , • National Bank of New Zcalandj buycri £4 12s. 6d., sellers £5 2«. 6d. Bank of New Zealanii. buyers £10 155., sellers £11 15s. .... N. 2. Loan and Mercantile Agency 4 per cent, debentures, £90 10s, Cify of Mclboaime, 4 per cent, debentures. £97. M Melbourne. Harbour Trust, 4 per cent, dabentirfea £96, Melbourno Tramway Trust, 4i per cent, debentures, £KO. JEelbounie and IfcfropilitaU Board ol Works, 4 *ier cent, acbentufes £98. Australian Meroantiio Debentures, £91. Dalgety and Co., i Dor cent, debentures, £90. Dalgety and Co.'s shares, buyers £6 2s. 63., sellers £6 12s. 6d. . Melbourne Gas Or, 's debentures. £93.

City of Sydney, £98..- ■■■■'■': • ". , ' RoMsbrouffh, Moirt and Co.'s debentures. £94 lte. ... Bank of New Zealand,-4 per cent, cuarantccd stock, £98.

SIOLTBDEXP4I: .FIIiAJfENTS.Molybdenum has other and more humano usas than tho use of hardening steel for bat'tUßhip armour, It threatens to become, a formidable rival to tungsten for iila-racnifi for clcctrio lamps. It is only a few years ago tha.t a, metal substitute for l.ho unstable and inefficient carbon filament wae discovered. It. «a.s found that the rare metal tungsU-n, or wolfsam, could ha reduced ,purinc<i. powdered, a.nn SQuirtcd into filaments when mixed with a Rtiffening compound, or in o. colloidal sfatt Soon after It was also found -that tho racial could be worked up Into thin rods and drawn iMo wire, and many came to regard .tho tungsten filament lamp as the final Mage in the development of tho incilftdcSffont electric lamp. Investicatore have continued their scorch for an even moro satisfactory metallic, filament, however, and it is now announced from London that tUe"motel molybdenum may before long sucreed to the position now held with such peemlng security and efficiency by tungsten. The jbcHibs paint of tho metal has never been found, and w. certainly far Meher than that of tungsten. Consttwefttiy 'filaments of pure molybdenum could be operated at ft higher tem■poratiiro than l.a possibio in sny of our present incandescent lamps. The imnor.aneo ©f this foot will be. underfitood when wo So* that the efflciwey of an electric lamn depends largely on tho tcmnernturo nt which it can be operated. Molybdenum is n. white metal, which isOiimost as Mileable an (roil. It can.be forged, while hot and -worked and polished without much difficulty, and its hflrdnws increases <w ik temperature is raisca. ParUclcs of the metal, when, raised to high tempera, turc, eeale.i«o into ingot form. MfloW are also made by placing the powdered metal on o. non-conductmte and highly refractory support iii a vacuum ana patsinc an electric carrent through the mass, or an arc mav bo struck between two electrodes o! compressed molybdenum powder £o as to ftisp the. meto.l. It is not a. difficult matter, to work tno metal into o,nv rennired form. It con be roughly fore*d into shape and then drawn into wi-e o« is now dono with tunssten.. The only aucstion which lighting engineers ;S Wp to folve w whether it is nosSblo to obtain ft wire of sufficiently fine diameter to possess .the necessary electrical resistance. If this caa. be done, as now =cems possible, wo may soon have e, new metallic filament lamu that will pro-m-e more light with less current than our'excellent tungsten lamps.

il-OXET AND'STOCKS. . By Telesrftph—Jross Association-Copyrieht London, January 27Tlio stock markets.a.rc buoyant Imperial Consols are quoted at. £.4 12-s.

6d.. on increase of 12s, 6d. on last quotation. Now South Wales scrip is at 3.J per eont. premium, and Victorian at 2 3-8. SILVER. Loritfon, January 27. liar filrcr is quoted at Uii, per ouneo standard. JCTE. February-March' jato is at £32 10s. . . . INDIAN COTTON CROP. London, January 27. The Indian rottim crop is expected to give o. yield of 15 per cent, over that of lay. season. WESTERN AUSTRALIAN LOAN. London, January 27. Australia, is under writ .ins a £2.000.000 4 per cent, loan St 9&J, 'redeemable between 1943 and 1962. WHEAT. ■ (Rcc. January 25, 11.30 p.m.) London, January 28. Wheat is dull owing to the tow of the American advices. Australian, cargoes to arrive' are quoted from 555. 9d. to 355. 10£ d, LONDON MARKETS. ' (Bee. January 28, 11.30 p.m.) London, January 23. Copper.-Thfee- moathe, £S5 155.; electro. lytic, £66. , . , Tin.—The market is active and excited owing to influential buying. On snot, £17& 65.: at threo months. £180. MELBOURNE WOOL SALES. (Ree. January 28, 11.30 p.m.) Melbourne, January 28, At thfi woo! pales competition was e*-, ecedingly keen, and prices were fully five txsr cent. above the December icAcs. 'MINING NEWS. I WELLINGTON SHAKE HAEEEf. . Sales recorded in the mining, market i ycetordav. were Rocs Baeonstrucied, fe. ißd,; Talisman. 425. 9d.; Jind W&ihi Grand Junction, 265. 6d. The auototions wcro as under;— Buyers, Selkrn. • £ s, i. £ ». d Con/GoldSelde ~ — 016 § Progress ''■■ ; — 0 13 3 Roes Goldfields 0 6 6- - Saxon, ■ - 0 011 Talisman .2 2? 2 3 J Waihi Grand Junction ... I 6 t l 6 9 Waihi ..: 2 13.9 214 i YvaihiPaeroa — 1 ■ 0 Waiting! "08 ■ - KOSS aOL-Di'IBLDS. The fallowing telegram has been received in Wellington yesterday from tho mino superintendent of the, Boss Sioidfields EeCOßStrßCtod, Limited :~2loj. Bold from 868 trucks, including 170 trucks from development work in No. 1 «outlt drive. Four shifts lost during week. STOCK EXCHANGE. (By TO«gra>ph.—Press Association..) Auckland, January 28. Stock Eschango satee to-day , were;— Waibl. .£2 Ma. ■ , ~ Grand Jiinctien,.£l w. 6d. Soles at tho third call wore:— Northern Coal, 105..6 d. „,,.,, Waihi Grand Junction. £1 os. 6d. Koss GoMficlds, 6s. 6d. Durrcdin, January 28, Tho fallowing sales were made on the Stock Exchange to-day:— Waihi. £3 Us. 6d., £2 135.-9 d., §2 145.. Tho following sale was t-eportcd :-Umen I Steam, preference, ISs. 9d.