COMMERCIAL ITEMS.

Dominion, Volume 7, Issue 1994, 27 February 1914, Page 10

COMMERCIAL ITEMS.

: IN FESTMENT SHAKES. ' , The : sh'aTe market' is exceedingly quiet and for the last three or fonr lays no .transactions. have been recorded:" there a^o^ Brilay V TheV ««?^*¥ ''■',' '■ "■ . Bu y cl '°- ~ Sellers'. •Bank •NjZ.Jrightsr...... V £ 5 Rational 'Bank- ■ •,;....•. • •-..■■■ , ■ > . , Well: Trust and Loan/.. 7 5-0 i" '-'--•' Union steam (ord-.) ..;...... l 4, 6.• -: f 5; 0 Well. Woollen (ord.) 4 0 0 _ Westport-Stockton ........ - nan llanngamutu Totara ... 2 5 6 J! Dental „. _■■ : ; . r2; v

FEOZEN'-JTEAT TBADE. "" ' Messrs. W. Wcddcl and'Oo.. in their rc'ISZ. IL\ « frozcn ' eat tradD f « '»15.' state- that tho general average ol auota--apna was above that, of <uiy previous year SrfWi h r, IStO » r >, y of ths Taki "B Mis in. U i nßr J th ' 3 , avera Ec of top quotations tor 12 leading descriptions of frozen meat ££•10?' P 3 6'", yea", the index, figure £ ,«,» 1 ;- 33 '- aa compared with lt-3.57 «?^ l 9 S 10 ?. 1911 - WO-23'for 1910; and 87.46 for -1909. Homo supplies proved to • .be even lighter than in 1912. and, although chilled beef arrivals increased appreciably, there wa 3 only a trifling expansion .in tho imports of frozen meat, ine aggregate quantity of beef, mutton; and lamb availabio for consumption in the United Kingdom was only ,2.!) -per cent, more than: in 1912, while the' consumptive demand was exceptionally well maintained throughout, tho year. . When .the, additional' inquiry from tho Chtied States sprang up, it immediately had "a hardening effect.on,the values of beef,.and'was indirectly instrumental in maintaining the prices of mutton and lamb at a, high level during the closing quarter of; the year, despite a', substantial .increase -in the quantities then arriving from Australia. In tho matter of supplies, Australia has provided the surprise of tho yoar, a particularly favourable season throughout tho greatcrpart of the Commonwealth having enabled.-shippers to -augment very materially the volume of their oxporta of beef, mutton, and lamb. Apparently, therefore,. itho idea—fostered by tho stationary -nature- of imports from Australia during the previous three or four j-ears— that-the Commonwealth was reaching tho: limit of its capacity for production, was happily not warranted by tho actual position. The arrivals at English ports of. beef and mutton from tho Commonwealth during 1913 established fresh records, while the quantity of lamb imported in 1915 hao only twice been exceeded. Owing to labour troubles in tho early < part of the year, and again towards its close, the imports from New Zealand showed very littlo expansion on tho 1912 total. From tho various sources of supply in South America there was a marked reduction in all Ki'iptions of frozen meat imported in 1913 as compared wflth 1912, compensated, for, '■however, by a largo increase in*, the importations of chilled beef from the Argen-' .tine Republic and Uruguay. The number of frozen carcasses imported -into-the TJniteJ Kingdom during 1913 shows an increase ot 10.5 per cent, in mutton, .4.2 per cent, in lamb, and a. reduction of 3 'per cent, in beef. But, perhaps, a more' satisfactory comparison can bcimado on the bas»3 of actual weight of meat, dealt with, according to the official returns of tho Board of Trade. Those show that, the 1 total imports of chilled and frozen beef, miitton. and lamb, during tho past three vears were as f0110w:—628.233 tons in 1911. 642.537 tons in 1912, and 720,661 tons m 1913.. The values of there yearly ironorts wevi i-Mpcctivelv. £20,396/05, £22.931.948, and £26.662,896. tha increase for 1910 being accounted for to' a great extent by the further development of the trade in chilled beef, <ind the large expansion in the trade With' Australia.: As experience has shown that the consumptive capacity of tho English roarket-for imported meat is. steadily oxpandihe.- the increase recorded in prices, can ho accounted for by. the simple fact thai, the supply was not equal to the demand. But for tho artificial forcing jf tho 'export trade-in chilled beef from the Ar- -' routine Bcpublic, the general advance must ■ have been still more pronounced than it is.. '

hotjLcee. line. The i-eport of' the Houlder Line, Ltd.', for 1913, states that the trading profits, including iric'omo on- investments,amount to £142.058. The insurance fund has beon charged with £1344, being the claims and returns ' in. respect. of the premiums receivctl by. the company on lines underwritten prior to.December 31, 1312, ana a, similar amount has been transferred from profit and loss. After charging amounts, expended on general management expenses, repairs, and goncrnl maintenance of tho fleet, and. debenture and other interest paid and accrued, directors' remuneration, fees of ■truatccb and auditore, there remains a credit balance of profit for tho year, of £81,246. In accordance with tho provisions of the. debenture trust deed, an amount equal to 5 per cenf. per annum on tho capital value of tjhe fleet is to bo transferred to depredation fund, which will absorh £50,520, .leavinn. a balance of £{0.725. During the year the last of .the new tonnapje recently contracted for camo into commission, the 5.3. Rounton Granjro having been delivered on March 17, 1913, and the s.s. Oldficld Grange on October •11, 1913.

TRANSVAAL GOLD. OUTPUT. Complete returns of the yield of.gold from tho Witwatcrsrond for 1913 are uo\t available, and, compared with tho flcures for the four previous years, show as under:— Fine Value. Year. ounces, £ IM9 7,299,413 31,005,939 1910 :.... 7,5321322 31,995,266 1911. 8,237,723 35,041,485 1912 9,124,259 33,757,560 1913 . 8,794,824 37,358,010 This is the first time since the war that, the annual returns have not shown an improvement. with. 1884, and .UP to the' close of lost year tho Eiiud has imeu to the world gold to the value of £401,242,675, and ths dtvid/in/is declared during the period totalled £1M,(149,1}3,

Customs duty collected at the port of Wellington yesterday amounted to £550-3'. 3s. sd. • WOOL- JUitKET.' '.' ', Messrs. Dalgcty and Company,', Limited, Wellington, have taim ail-vised by cable* - gram from their London office, tmd'ci: date- : Pobruary 24:—W00l sales: The third eerics have been flicd to epon on April 28. The limit for now arrivals, provided the Quantity be reached before .the eighth■-'day prior to tho opening of tlio fates, is 175,050 bales of colonial wool. So wools arriving after that day will be. admitted,' NATIONAL MUTUAL LIFE,. DIRECTORS'- EE-POET. By Telegraph—Press Association—Gooyrieht - , MSlliourno, February 26. At tho triennial meeting of the .JMiofial Mutual Life Association the directors r> port recorded a satisfactory year. The funds had -increased 'by sCi.tSS.fcOG, and'the surplus wa6 £650,tt0.\ The. dividend for members and tho jirevidkig of reversionary. bonuiMs-. absorb £1,100,850, making the total bonuses, added .to imHcies hy, the association' over four millions and a' half. ' ' WHfiAT. : '• The New Zealand Loan and Mercantile Agency Company. Limited, have received tho, following cablegram from their London house, under.date February 25:— Wheat: We have Sold an Australian cargo at 36a; 6d. ci-.f. The'market is-firm, Tho outlook is uncertain, but there .i& * fair demand. Wo quote,' peT nuo>ter, c.i.f., New . Zealand , wheat—Long-berried, 345. 6d.; short-berried, 345. (Kec. February 26,10,25 p,m.) - London, February 26. Wheat is firm at full late rates. Brood Street estimates the visible rawply of wheat: East of the- Rockies at about 113,764,000 bushels.

consols. •'. : ' ' (Rec. February 26, 10.25 Tt.ia.) :' • -. Loftdfin, 'February. 25. Consols arc quoted. at £75 15s. STOCKS. , (Rec. February 25, 1040 ■ p.m.) London, February 26, The "Bankers', Magazine" estimates that 587 etocka hare a-ppreeiaied by , sisty-sii millions for the month ended February 20. . •;' : SILYER.''-'' : , ' ■''• ' . . Lontlajt, February 25. . Bar. silver is quoted art 25 i-16.d. per ounce standard. LINSEED OIL AND •TffBFEXTIUE. . London, February 25 ; = Linseed oil, £24 :15s. Turpentine, 315.: lfljd. TALLOW SALES. London, February 25, "'At the tallow sales 1768 casks were offeis ed and 1005 sold. srkes'reafeed-.-Xfiittes. 555.; beef. 353 AUSTRALIAN MAKEETS, (Roc. February 26. '■ 4.55 pin.) ■ Sydney, February 26. Wheat, 3s. .83d. to 3s. S3. Flour, £6 Ms. Oats, Algerian.feeding,. 2s. 2d, to js, 3d;; milling, 2s, 6d.; New Zealand A, Gartens, not quoted:' Barley, Gape malting, is. 74. to "s. 9d. Maize, is. id. Bran and peilard,.£s.' Potatoes, Tasmanian, £6. Onions, Victorian, .'£9. . Butter, Selected hraniifl, 1129.; eacondar'y, 16Ss. Cheese,'. 6Sd. Bacon, Is. A'dotaltta, February 26; _ Wheat, 3s. Bid.to'Js.'Sd. Flour, £3 to' £8. ss. '»■ Bran and ■ pollard, IS. , MELBOURNE HIDES SUBSET, % ••■•' (Rcor February 26, 8.55 p.m.) • ..." .:'■; Melbourne, Febtnary 26. Hides ..were in maderal* supply, and thereiwas:an active 'demand, pfites beat* one-eighth dearer, ' '