COMMERCIAL ITEMS.

Dominion, Volume 7, Issue 1989, 20 February 1914, Page 10

COMMERCIAL ITEMS.

INVESTMENT SHAKES. . The business dons in investment shares consisted of sales of New Zealand and Kiver ■ Hate at 426., and Oliristchuroh Gas at £6 13s. 9d. The quotations,were as follow:- ■-. , ) .. Buyers.' Sellers. •i &. d. £ s.'d. Bank New Zealand ..' — 12 3 6 Bank N.Z.' (rights) .;......;. — '5-30 National Bailie — ,5 8 0 N.Z. and River Plate 2 i 9 2 2 3 Well. Trust and Loan ...75.0 7,66 Christchurch: Gas '6 13 6 —. Palmeraton N. Gas 9 10 0 .— Gear Meat (£4) 14 5 0 ' — .. Gear Meat (£1) , -.. 3 13 0 ■ — Meat Export (525. 6d.) .... 3 3 0 — Union Steam (ord.) — 15 0 Union Steam'(pref.)'.. 10 2 - —- Westpo'rfHStockton ■.; - — 04 0 Kauri Timber (los.) — 0 17 6 Taringnniutu Totara 2 5 0 — 0. M. Banks;- Ltd 12 0 — N.Z.. Don. Dental 116. — 'Ward and Co ;...;.«, ifinO P,--i.nr.iif(fr--}ii i.W.P.O.A. (£1) ;.!„...;,-...;r- .w,. 1 6-0 GILT-EDGED SEOtntITIES. According, to the. City editor of "The Times" (Ldridon), tho depreciation allowed for by fifteen joint-stock banks- in 1913, amounted to.a little ; over £2,019,0C0, as compared .with about £1,202,000 a year ogo. Appropriations for depreciation have a feature of .banking finance, for eeveral years past, owing to' the .depression in the gilt-edged market, but last year the depression was even more.aout*,- not only' in British Government .fjinde, but in almost, all classes of securities, good, bad, and indifferent. Theoretically, depression in securities is a concomitant of active trade, and dear money, so that last year's experience was more or less a normal one in tho .circumstances for the banking community. A 6 long as there is an active employment for money in trade it will naturally not flow into investments bearing a low rate of interest. Of course, tho competition of new and higher yielding securities has been an important factor in Stock. Exchange depression, but, this is only another pha.so,of dear money. Profits made by the banks on tho ono hand have beeu partly lost, on paper, on the other side of the accounts; but shareholders, philosophically inclined, may justly reflect, that tha heavy writing down of investments in recent years constitutes a reserve source of strength to the banks.*

THE HEAT TRADE. In the annual report on the frozen meet trade of Great Britain, issued by tho Colonial Consignment and Distributing Company, Limited,, reference is made, to tho fact that the world's demand for meat is rapidly overtaking the supply. Tho steadily diminishing • export from tho United States since 1901 has now reached, a vanishing point, and beef is exported from Australia and Argentina both direct and via the United Kingdom to North America. An important point to be noted is that outside .Great Britain the inquiry is almost entirely • for beef. During tho year 1913 the three great producing countries of the. Southern Hemisphere again expanded their • export. The total quantity of frozen and chilled meat imported from Australia, Now Zealand, and South America was 720,000 tons, compared with 64Z.0C0 tons in 1912. While South. America, was responsible for 417,000 tone of the total, Australia accounted for 57.0C0 tons of the. increase of 78,000 .tons. Little difficulty was experienced in realising good prices for all descriptions of frozen meat, and in. every .case the record averages of 1912 were exceeded, whilst since tile demand is crowing at a more rapid rate than the supply, it is concluded that the era,' of cheap meat is postponed for some time.

x COMPANIES REGISTERED. ' The following appear in the list.of com-, panies registered, published in this week's "Mercantile Gazette":— ■ New Zealand Aviation, Ltd.. registered as a private company, February 11. Office: 29- Manners Street, Wellington. ■ Capital: £500, into 10 shares of £50 each. Subscribers:' Wcllington-T. W. Hislop, P. E. Pethcrick, H. 51. Rosenberg. C- D. Barton, T. Young, R. M. Griffiths, A. Young. A. E. Climo, F. T. Moore. E. A. Bhindell. all one share each. Objects: For exhibiting .aeroplanes in Sew Zealand, etc. Raetihi Hall Co., Ltd., registered February 16. 'Capital: £1500, into 1500 shares of £1 each. Subscribers: Raotihi—J. Steveneon, 56; T. A. Harris, 50; W. E. Hird, 8; D. H: Grant. 32; P. J. North, 20: 8. L. Wright. 40; W. M'Nie, 34; E."A. Wallace, 34. Objects: To acquire as a going,concern tho Raotihi Drill Hall, and to alter, maintain, etc., the same. Parsons Broa.'aniJ Co., Ltd., registered as a, private company February Capital: £600, into BCO shares of £1 each. Subscribers: Hotuoka—W. S. Parsons, 160! C. Par Eons, 160; G. H. Buddcn, 160; TJ. W. Tiuddcn, 160; L. G. Budden. 160. Objects: To,carry on business of drying.,preserving, pulping, and canning fruit and vegetables, etc. Marlborough Engineering Co., Ltd., registered as a private company February 17. Capital:'£l6Co into 1600 shares of £1 each. Subscribers: Sed'don—F. W. Bursill, 1000. Blonhoira-F. H. Andrews, 300; G.- If. Brown, 300. Objecto:-.To acquire as o, going concern the business now carried on by "G. Brown and C 0.," as engineers, founders, etc. Matowai Co-op. Saloyarda Co., Ltd., registered February 4. Ofllco: iMatnwel. Capital: £700, into 350 shares of £.1 each. Rubscrlbera: J. B. Clark, 5; C. Morlce, 5; M. M'Kenzle, 3; G. W. Armstrong, 6; 1. M'Konzle, 3; 8. V. Beaufov, 1; H.TRobb, 1. Objects: To acaulro necastory land and erect buildings for salo of live stock. 3. R. Redstone and Sons. Ltd., registered as a, private company January 28. Office: Grey Street, Gieborno. Capital: £6000; into 6000 shares of £1 $»ch. Subscribers—J. R. Redstone. 5000; J. H. O. Redstone, 600; N. A. S. Redstone, 400.. Objects: To acquiro rr a going concern ttie business of coach and motor proprietor now carried on by John, R. Redstone.

WELLINGTON MAHKETB. Messrs; Lncry and Co., Ltd., Wellington, report wholesale prices as under:--Oat!, per bushel, feed 25. : sd. to 2a. 9d.; seed oats, 2s. 9d, to. 35.: wheat, fowle. l s . 6d. to <a. 10d.; maize, 4s. 9d. to 4s. lod.; barley, feed 3?., iiape it. 3d.; pom, Prussian hlajfi. u. 6d.; Ujueed JUItS, 291 cti., 13a.

6d.; crushed lineeed co.ke, Ms.j whole linseed, lEft; pollard, per ton. £6 Ids. to £7; bran, £4 ss. to £4 10s,; flour, Atlas, £10 10s.: oatmeal, £12 10s.:. Shall, oatenEhcaf, £4 15s. to £5; baled afcra-w, £3 to £3 5a.; superphosphates, £4 15s. to £-5; basic slag, £4 to £4 55.; rollod oate. per dozen. 10s.; potatoes, new, per tan, £4 to £4 IB?.; onions, £7 to £9: plcklers, per lb., ljd, to lid.; cheese, modium, per ]1»„ Hi., loaf ri?,e 7d.; fresh eggs, per--dozen. Is. 6d.; preserved, Is. 3d.; butter, prime milled, nor lb., 9id.: bacon, Swan brand, rells Sid., sides 10d.; hafts. Swan brand, is.: honey, bulk, per lb., 4d. to 4}d.; Itrnmis.' SJd. to 51d., good demand; broken-poa.s; ft>r poultry or pifts, 3s. ti. bushel; ryecr-oas. 4s. to 4s. 3d. per. bushel; cocksfoot, . machine dressed, 55d. per lb. Customs duty collected at the port of Wellinjton yesterday amounted to £2359 2fi. Bd. SOUTHLAND WOOL CI/tt>. (Br Teleßraph.—Prew Ae«oclatlon.i Inuorcarsll.l,' February 19. For tho wool sales to-morrow, 8222 beJes are offering. For the season, 19,763'ba1es havo been ÜBted. as ajrainst lest year. The Now Zealand Loan 'and Mercantile Agency Company, Ltd., hate - receifed the followinß cablegram JTrorji . their-■ Ijondon house -under dato February 18:— Tallow—We quote ■ present spot values for, tho following descriptions :~Qood mutton, 35a. 3d. per cwt.; .good beef, 345. 3d. per cwt.; mixed, 32g. Jd., per cwt. The market is qqiet, . Wheat.—Sold an Australian "cargo at 365., cj.f. The market is firm. There is a eood demand owing to Continental btiying, ahd the outlook', is. encouraging. We quote, per quarter, c.i.f., New Zealand. wheat, jongberried, 3<s.; 335. dd. WHEAT. ' ' (Rec. February-19, 9.45 p.m.) - ■ By Telegraph—Press Association—Copyright London, 19. Wheat ifl very firm, and sellers are holding for on advance of 3d.. Four thousand tons of New South Wales' February shipments and elx thousaiid toti3 of • South Australian and Victorian Harch ship, ments have been sold at 355. 94. per qqiaxtcr. TALLOW. SALES. London, February 18, At the tallow Galea 1116 casks were offered and 493 sold. Prices realised:—Mutton, line 365. 3d., medium 34J.; beef, fine 355. 6d„ medium 335. 6cl. LINSEED OIL AND TTJEPENTINE. London, • February 19. Linseed oil, £24. ~ Turpentine, 325. 4id. •' AUSTRALIAN PRODTJCE. MARKETS. (Rec. February IS, ,9.45 p.m.) Sydney, Febrnary 19. Wheat. 3s. Bd. to 3s. BJd. Flour. £3 10s: Oats, Algerian feeding te. Id. to &. 2d,-; milling, 2s. 4d.; New Zealand A ; Oa-rtons. not. quoted.' Barley, Capo malting, 2s. .7d. to 2s. 9d. Maize, 4s. 6.d.-to 4j.-7'd,- Bran and pollard, £5., Potatoes Tasmtßjani £6 lfts.; Victorian, £11..;, Bntter, selected brands, 1075.; secondary, 104s. • Cheese, 6Jd. Bacon,- It. ' Adolafde,- Fcbrirary 19. Wheat, 3s. 6d. to. 3s. 7d. Flour, £7 15s. to £8. Bran and pollard, Hid. MELBOURNE HIDES JIAMET. '. ', ■ (Rec. February 19,,8,55 p.m.)' Holboufiiß, February 1). ■ There wacra'.good catalogue of. hides, and the sales' were marked by .'stiong competition. Prices, were one-eighth higher.