COMMERCIAL ITEMS

Dominion, Volume 7, Issue 2009, 17 March 1914, Page 8

COMMERCIAL ITEMS

INVESTMENT SHAKES. ~ There were no transactions in investment shares yesterday. Tho. quotations were fts under:'— Buyers. Sellers. £ s. d. £ s. d.

AN INVESTOK'S BOOM. Commenting editorially on the sudden casing of the money market and the boom in securities which took place in January, the "Financial Times" of January 31 says:— "Within the memory of. oven the proverbial 'oldest inhabitant' of- Loudon no movement similar in character and extent to that which lias taken, place, during, the, present month can probably be recalled, and the fact that the all-round vise' in prices not only shows no signs of slackening, but nenmred fresh impetus from the foil in Hie bank rate Ibis week,'and tits strong position revealed by the return, rcn-

ders the movement all the more remark. able. The pace had boeft Xrtiit. but it. has evidently been not too fast to-lost- qec! though at least a temporary ehec-is' muct eomo eventually, at present there arc certains ly 'no indications of it. Sieve are Boo<t reasons, too, for thinking that the 'factors underlying the mavetßtnt mc too stronu to bo eaGily checked. The chief and most obvious of these, of cbutec, js the abnormally; eoundaut .supplies of (nancy, and Hie prospect' of atill cheaper rates. Another and perhaps an .even more patent cause, at.all events as rcsajtJs (tie fc-urtdcs-i.ni.l-3s of tho movement, may bs fauttd in Wmj prolonged depression which preceded it. Ever einco- the beginning of 1908 a steady and progressive fall in gilt-edged sccuriiit-s lias been in progress, and dnring 1911 and 1«12 at least the capitalist who allowed his money to lie idle at the batik wa«. on the whole, better oft'- titan he who invested it in high-grade eecuritfe. There to' no doubt that, tired of the ■■ successive Mte in capital values, large-sums we*o rcali«-ti and banked, or employed in trade, a-tk still larger sums wore ■ withhold from in, vestment awaiting the turt of the tide The current may be said to have -been, on the turn at the comm.oncentt.nt of th>>',s-»a? but it' was not untii the middift of this month that the casing oft' in ntosev ra't.e» became pronounced, the change in pent'iment thus produced beinir eigHaiifce'tf in rather dramatic fashion by the- success ef the tictoriau loan."

NEW YORK LIFE KJStJiUNCE. The report of the Xci? Yo-rk I>if,e In-cur-anco Company for 1913 witnessed a <-antmuance of the -prosperity, whisk lias attended tho company's operations id nil departments of its astivHies. During the year 109,765 new policies were tseued' and paid for, insuring Ji'flß,3S-5,671. l'olicies revived numbered 2iiM for £5,V51,299, dud existing insurances were increased to the extent of £1,668,599. The total iww a:mi additional insurance for the year, therefore, amounts to £51,075,570. la&uranccin for-rf at ihc end of tho year- 1912 was J&«,B£W77. Deducting t-crminationS' during the year 1913 by death, maturity, surrender, cspiry, etc., amounting to £29,a.i8,770, and ■adfiiiig the above total gain of 'insurance, the total amount in force at the end af the past year will be -seen to equal £4!i7,05U77. of which £466,792 arc reinsured. Tho income of the year increased, 'to the extent of £1,083,525, and amounted to £25,51!6,«'6, The .total disbursements were greater to thft extent of £928,354, asd reached JE16.760.744l but tho balance of revenue-was larger, and amounted to £8,825,691. The total liabilities, as valued by the Kcw York State lesurance Department, are returned at £131,567,102. The dividends or bonuses declared payable to polieyhoWers in 19i<i are £3,618,098, against £3,157,241 for 1913, which is by far the largest dividend apportionment, in the history 'of the dofflpany. The total fund set aside from which to pay dividends or bonuses on deferred dividend policies, as their dividend perioils mature in 1915 and in 6Ubsequent years amounted on December &. 1913, to £16,563,594. The surplus and'other reserve funCs ip excess pf this amount are £2,052,199, together equalling the total as«fs, as st January 1, 1914, of £153,806473.

Customs duty colleoted ex tile port, of Wellington yesterday amounted to £4257 2s. 9d. FBOZE3ST MEAT. Messrs. Gilbert .Anderson and Co.. iJlessrs. llellsop, 'Eliott, and Co., lotol agtsts), reporting on the frozen meat morliot iin&r date fiondon February §, write as follows:--Home-grown.—The market has shown an impvovem«nt over lost wesk, and a higher range of values prevails, hootch sides of beef, 6id, to 63d-.; tiiglidi, 53d. to 6 3-Bd.; Irish, sjd. to 5-id. liiaKon? Scotch, Tid. to Bd.; English, 63d. to rSd.; Dutch, 6id. to 7d.; eweS.'SJd. to $Jd. I'fy".Scotch. Bid. to 9Jd,; Put'eli-, 7d.- to 7Jd,; l.nglish lamb, 9Jd. to-lid, Venl,-Bid. io Si. Pork, 5Jd. to 63d. 'Frozen: Tho market is crumbling beroro the arrivals of the Sew Zealand meat held tin by the recent strike. Another sharp fall in values has occurred, and buyers are operating wittt the utmost caution, and purchasing as lightly as pq-s----eible. Jrutton: The a-rrivals for the past fortnight : consist of 34,-OCO carwssoa from New-Zealand, but the trade having been compelled! by its absence lately to operate in ATgenttns and Australian mutton, buyers are pot prepared to <ro back to tbe jncw Zealand sheep at tlieir present high values. Consequently tho demand is- stow and p rl ces lower. Best New Zealand, 56-64, 43d.; ordinary. ,4 9-16' d.; ewes,' 48-6*, 4Jtt.; Australian .:.wetliD'r's, ..'4O-60, 4d.;,aeewut- guaj- 1 tty, 3a-55, 4d.; ewes. 3Jd.i South American sheep..4o-53, 43-Sd.; 65-72, 4Jd. tomb: falcs are being pressed, and to effect them lower prices are being'accepted Goch-'ti-mi'. tooving the market;very.de'presssd. Best Kew Zealand lambs, 28-42, 5Jd.: ordinary ' 28-44 6W ;■ Australian best, 20-42, 5 IS-lSd.; fair,' ?oK' 53 4 , i :» or> c 5? ,1&l - : South'Amsrican. 2S-36, .aid.; 36-42, 5 5-164. Beef; Vala»s remain steady. Xsw Kealatjds are kill short, but the nominal -<iuafstt-wi).« 4d fore*. 4Jd. hinds. Anstr««4n crops,' 4d. ; ?i 1 ? ds 'n,^ W ,- : , South Antorica-n, 4d.; hinds, 4jd Chilled beef fores ar-e ftrm at 4-' d hinds, -4jd.

HIGH COMMISSIONER'S MARKER KEPORT.

The Department of Agriculture. 'Industries, and Commerce has received'the following cablegram from the High Ooinmis. sioner, dated London, Xfe'ecli 14.' (Note quotations, unless otherwise specified, are average market prices -on epot). Mutton.-Tlio market, is firm. Kerth Island. <lSd.. per lb. The demand fe oufeflv for lignt weight, at as high as 4Jd. irei in. There js a dull sale far heavy carcasses of mutton at 4Jd. pet lb. Lamb-There ig a go<sd demand for a)l lamb, but prices have sliglrtfj- declined for all tjrades, on account of tic Urge Supplies coming, forward. Canterbury twos, CJd. per lb.; heavy weighta, 6li;; other than Canterbury, 6Jd. per lb. Beef.—The market is vervdujl on oficount of the supplies of: Amci&ja' chilled beef being large, but there is uti clian"e in prices. New . Zealand. Muds-, 4id. pSr lb.; forc3, 4d.; 'chilled hinds, 'sd. per Ih • fores, 3jd. Kiver Plato shipments received durinfi the month of February. 1914:— '

Butter—Th3 market U dull, and prices are. irregular. Danish, per civt., 121s. to 1245.; New Zealand, 110s. to 1145,; Australian, 108s. to 1125.; Argentine, lOte. to llC's.; Siberian, 108s. to 112s.

Cheese—The • market fa'steady at the decline. Canadian, market'slow:. While, tier cwt., 635: to 705.; coloured, ,70s, :t<i 715.: New Zealand (in fair, demand), white 625. to 6Js.. fid.; coloured'6<s. 6d. to 655. 6d.; Australian, white 625. to 625. 6d.. oaloured-tea. to 655. Hemp.—The market .is somewhat steadier, and there is nioro demand. Kqw JScalaiii— ' Good fair, per ton, E?Js H.i fair, £22 Jfe, April to June shipments, good fai?. £25 155.; fair, £22 15s. The stock at the end of February was 1652 tons. Manila-.: Fair currciit, per ton, £26 lOs. in all positions. The output from Manila for the.week vita 20,000 bales. Sisal.—The market is ftnisi d.t £26 IDs. per ton. Wheat.—The market has declined by Z([. per quarter. WHEAT AXD FLOUK. ' ' By Telegraph--Press Aasociation-Cocyrtehl London, JJArcli 15. . The wheat.market is duii and orlces unIJd. is a-slico;. - " , The wheat and flour ftflsat. for the United Kingdomitotals 3,925000 quarters; for the' Continent,' 2,265.000; Atlantic 'shipment* 3C9.C00; Pacific. £010. The total shipments ' to Europe during. the wec-1; Amounted w" 1,525,C00 quarters, including i'-HM from Australasia. ' LONDON .MAHKETS. ." London, Match 15. Copra market, fiat. South Sea, in bags, March-April, £26 10s. Cotton— March-April, 6.63 - jier lb. Hemp.—Market, steady.. Manill-Mny, £26. . Itubbcr.—Para, 3s. per lb.: piaatation.■ 2s. <Jd.

Bank N.Z. (rights) 4 17 6 A 19 0 National Bank — » ; f Wellington Investment ... - J1} J Christchuvcli Gas — J i , S.B. Insurance — A / J Union Steam (prof.) 10 2 - KaUipoi Woollen, (ord.) ... 5 A 0 — ifaiapoi Woollen (prel.) ...536, — Moegicl Woollen — 3 13 6 Well. Woollen (ord.) 4 00 - Wostpoit-Stookton - 0 4 0 Leyland-O'Itrien 13 9 — Taringarautu Totara 2 5 0 — W.F.C.A. (£1) - 16 0

Ulutton. LaiuS. London 2j,..]K! 7,5a! I.ivei'ppol ;...,. j[,?25 ztiiZ - 5.«a HO 5"H ••• ■ :.•• 7.S55 1,035 Newcastle .,... 1.3,577 . 770 Ireland , 3,619 n ji Totals, February, MM ....'138,788 19,N1A Totals, February, WIS ... 209,505 56,50:5