COMMERCIAL ITEMS

Dominion, Volume 7, Issue 2011, 19 March 1914, Page 8

COMMERCIAL ITEMS

INVESTMENT SHARE 3. . T The sales of investment shares yesterday c were National- Insurance 51s. 3d., Kaiapoi ' Woollen (preference) £5 50., and Mosgiel J Woollen £3 12s. Tho quotations were -as 1

MUTUAL LIFE AND CITIZENS. '. ' The twenty-seventh annual report of the '. Mutual Life and Citizens' Assurance ,Cdmpany, Ltd., and the sixth since the- fusion. , of the Citizens' Life aJid the Mutual Life Association, shows that in tho ordinary branch, excluding reassurances, tho number of new policies issued woe 11,758. ae- , surine tho sum of £2,506,337, and producing o, new annual premium incomp/ of j £73,042. Premiums in the industrial branch amonnted to £248,753, an increase of £12,051. The following comparison of the new business ehows the movements: — I . Annual

Claims on the ordinary branch show ft moderate decrease, but on. the industrial there ha* been a large increase. The comparison, is as follows-.— 1911. 1512. 1913. • £ £ £ Ordinary 425,715 431,600 455,948 Industrial 60,954 58,733 £8,83.4 Accident 9,052 • 11,981 - The amount of business now in force including bonuses is £29,684,681, asainst £30,473,508 a- year ago. The policies in force • assuring '.-this sum number 378,989, with an annual premium income of £1,045,084. EXPORTS OP WOOL. Tho cxporte of wool from Australia, and New Zealand for the cisht months, July 1, 1913, to February, 1914, compiled by Dali gety and _ Co., show as undor in com- • pnrison with the figures for the corresponding period of '-he previous years— , 1912-13. 1913-14. £ £

f . 1.9W.584 2,077,373 i The increase from tho Commonwealth toi tals 178,399 ba!c3, while tho New Zealand j figures show «• shrinkage of 43,610 bale 3. ;• DEFATJLTEHS. o The two count-rice whicu are giving fiiinn- „ ciers most concern just now are Mexico ' and Brazil. The former is m the throes of ' a civil war, the end of which no one tan r foresee. Already the service of the puh- ', lie department- has been suspended for six ni'jnth,s, aud thn destruction of capital

has been enormous. Even when active hostilities cease, a lone time will bo required for tho reorganisation of tho internal economic syatem of tho country. Brazil, on the other hand, is suffering from more

or less natural causes in the shape of overproduction of the staple commodities of tho country, rubber and coffee. For many years tho people of Brazil liove been living beyond thair means, and they have failed to roaliea that their sources of

revenue aro rapidly losing their value. In the Amazon Valley everything lifts been sacrificed to the collection of rubber; nothins has been planted, not even rubber trees, and the cultivation of foofctuffs has been neglected. Not only has Brazil no manufactures, but the Customs tariffs arc 60 drawn,up that it is impossible to manufacture anything «it .?, profit. la many places, states the Britten Consular report, cattle could bo raised to furnish all the dairy produce- the country' needs, whereas every' ounce of these article? is imported

at an almost prohibitive cost. The report concludes by saying that this vast country, eo prolific in everything neoc-sary to life, now olmo3t void of of population in ila largest and richest parts, with tha unique advantage on the earth o£ easy accessibility in its remotest corners, with a network of ndvifable waterway.", unporoHelcd in any other country, bringing nearly every acre of. it into direct, comniunitotion with tho rest of the world, is destined at some future date to. reccivo the overflowing millions from Europe and Mia. With a, climate that knows no frosts. witU no desert tracts, no mountain- ranees, with, drought unknown, end impossible, with a soil which produces harvest after harvest as fast as it can be planted and (fathered. North Brazil must become a source of food supply for the world. Customs duty collected at tho Wt of Wellington yesterday amounted to J52468 4s. ' TASHAXIAN LOAN. By Heleffraph-l'ress Asßooiatiou—Copyrisht London, March 17. The prospectus of a- Tasmanian 4 per cent, loan • of JEI.SCO.CCO, at £99, has been i?sucd. The loan is repayable between 1940 and 1950. .. The last instalment is payable in Way, and a half-year's interest is due on July 1. The loan has been underwritten. LONDON WOOL SALES. London, March. 17. Tho wool salei clored firm. There was eood competition at late rates. (Itec. March 18, 9 p.m.) London, March 18. At the wool sales, thero were sold for the Homo market 78,600 bales; Continent, 40.0 CO; United State. 17.K0; held over, 4C(X). Merino? steadily hardened throughout, the best cornbin; sorts closing at fully ten per centum abov the January Tates; shabbier sorts, all clothings, from 7J to 10 per cent.; fine crossbreds advanced from 10d. to Iβ.; medium gavo way at tho cloee at 5 per cent, above the January rates, owinc to the large supply and the Americans finding the high prices prohibitive; slipeo, I peourid, advanced Id.; morino lambs, from par to 5 per. centum; crossbred, 10 per cent. The outlook is reea-rded as favourable, as the hulk ol the operations represented urgent needs, though the hiuh prices may tend to check bus-inejs. The following prices were realised for fleece portions of the named:—"Whiikeponi," top 13d.. overage 12d.; "JFongamaia," Hid., lid.; "Hudfltone," 16d.. IJJd. HIGH COMMISSIONER'S REPORT. The Department of Agriculture, Induetries, and Commerce has received the following cableirram from the High Commissioner for New Zealand, dated London, Jtarcli 17, 1914, regardius tho closing of the second series of colonial wool Eales: "The wool sales "have closed. There was a brisk demand from all sections of the trade, including. America. Prospects arc favourable. Homo and Continental trade is good, and ic likely to continue so. Estimated American purchases were approximately 17.CC3 bales, 'against SCM bales at lost sales. One thousand three hundred bales Now Zealand wool are held -over. Estimated values: Superior merinos. Is. Id. to Iβ. 3d.; medium, lOd. to Is.; inferior, fijd. to 10d.: fine crossbreds . (all erodes), Is. -,id. to Iβ. 3Jd.; medium (a-!! grade , -). lOd.'to Is.; coarso (a!V grades). 9d. to lid." PRIVATE CABLES. Mcssrs. ])a!<rety aad Co.. Ltd:. Wellington, have received cable advice from their ■ London office, dated March 17, reading Oβ follows:—"Hales closed firm without, further change. As compared with the closing r-atoS of tho January ecriefl: Merino wools—Greasy, medium to good wools, 10 per cent, higher; heavy, earthy, and wasty, par to 5 per. cent, higher; other descriptions, 5 per cent, to 7* per cent, higher. Crossbred wools: Orepsyi flno quality. 10 por cent, higher; medium ouali'.y, 5 per ctnt. highzr; ccarce. 7J per cent, to 10 per cent, lilslier; 6coured, 5 per cent, to 7i per cent, higher. Slipe wool,?, 7J per cent, higher. Lambs' wool. 5 per cent, to H per cent, higher. The total net quantity available, for sale amounted to 144.CC0 biles. There were sold to Arnoric-a 17.CC0 bales, for Home consumption 83.C09 bale, nnd to tli<! Continent 40.0C0 bales; not offered. 1000 bales; curried forward, 30CO bales."

The Bank of New Zealand has received thb following cable advice from Its London office, dated March 17:-"Thc market has closed with good' demand for fine and coarse cro'sbreds: medium crossbred.? ri°Kleoted. The total quantity held over is 35C0 bales, of which 1250 bales fl.re New Zealand. Compared with tho openin? ol this geriee prices are 5 per cent, lower for medium greasy, average." .'■

Messrs. Murray, Roberts and Co.. Ltd., have received the following cablegram from .'their London friends, Messrs. Snnderson, Murray and Co., under dpte March 17:—"Sales h-i-.vo closed firm: VSti bales held over. Greasy merino, inferior and faulty and' scoured, 'mcrir.o inferior, declined 5 per cent. For a!! other descriptions of woo! tho market showo no chance." Messrs. Abraham o.ml Williams, Ltd., have received the following cablegram from their London asents, dated March 17: —The March saJe-s closed with a good attendance of buyers. Prices, as compared with .the closing rates ,of last, series, aro 0 3 follow:— Coara crop«bred and merino, 75 per cent, up, with the market steady; fine crossbred, 10 per cent, up, with the market firm; medium cros.Vored, 5 per cent. up. and the market fair.

' The New Zealand Loan and Mercantile Agency Co., Ltd., have received the following cablegram from their London house Tinder date March 17':—As compared with last sales' closing' rate?, prices arc higher by about -5 per cent, for medium greasy crossbred and higher by about 5 per cent, to 7J per cent, for scoured crosobred, creasy jnerino super, secured merino super, medium- croiebred s'.ipe, fine crossbred slipe, and higher about-7} per cent, to 10 ner cent, for merino medium and inferior, cn-irse grettsv crossbred, coarse crossbred slipe/ and fine creasy crossbred. 137,0Cfl tHfn of wool were sold at the sales, of which 43.CC0 biles were taken for the Continent, and 17.000 bale* for America; 4CCO bale? were hcM over. The sales closed with good competition.

FINANCIAL CABLEGRAMS. By TelegTo-ph— Press Accvintion—Coiivriirh<

London, March 17. Yesterday's closing uuotatione wero as follow :— Bank of Australasia, buyers £116, sellers £118. "Bank of New South Wales, buyers £40, eeilora £41. Bank of Victoria, buyers £4 10s., sellers £4 15s. Union Bank of Australia, buyers £55 10s., sellers £56 lCs. National Bank of Australasia, buyers £5 2s. 61, sellers £5 ss. National Bank o£ New Zealand, buyers £4 155., sellers £5 ss. Bank of New Zealand, buyers £8 155., sellers £9 ss. N.Z. Loan ana Mercantile Agency 4 per cent, debentures. £93. Uity of Melbourne, 4 per cent, debentures. £100. Melbourne Harbour Trust, 4 per cent, debentures, £99. Melbourne Tramway Trust, 45 per cent, debentures. £101. Melbourne and Metropolitan Hoard o! Worto.' 4 per cent, debentures. £95. Australian Mercantile Debentures, £93 10s. Daljety and Co.. 4 per cent debentures, £93 Dalgety and Co.'s shares, buyers £6 2?. 6a.. fillers £6 12s. 6ft. Melbourne tins Co.'e debenture*:, £99. City of Sydney. £99. Goldsbroueh. Mort and Co.'s debentures. £95 lto.. ' Hank of New Zealand, 4 per cent, eustranteed stock. £ICO. WHEAT. London, March 17. The wheat market is steady; 3?s. IOJd. was offered for Australian, ex steamer. (Ecc. March 18. 9 p.m.) London, March 17. Tho wheat, market is steady and nuiet. The American vlsiblo supply eo3t of tho Rockies is estimated «rt 106,817,003 bushels. METAL MARKETS. ' (Eec. March 18, 10 p.m.) London, March 18. Copper—On spot, £63 7s. 6d.; three months, £64 to. 6il. Electrolytic, £65 15s. Tin—Spot, £173 155.; three months, £175 15s. L«id.-£t9 7s. 6d. JDTE. x i . London, March 17. Native first-marks iut»., Mareh-AnrU shipment, arc quoted at £32 ICa. per ton. I'or Bronchial Congh's ami Colds, Woods' Grsut Peppermint Cine, Is. Gtl*

follow;- . Ti Buyers. Sellers. 1: . £ s. i. £ s. d. b Bank New Zealand (rights) 4 16 0 4 11 II c National Bank — 5 7 6 t Equitable Building 9 0 0 — ji Wellington Investment ... - 0 Ilv3 d Napier Gas (£10) 1517 6 - t Napier Gas (£9) 14 5 0 ■ - c Wellington Gas (£10) 16 Z 6 - c Natiomd Insurance '. — 2 12. 0 s Union StMm (pvef.) 10'. — t Kaiapoi TVooIIen (ord.) ... 5 5 0 — \ Al'o-'Cicl "iVoollen — . 3.!'. 6 t Well. Woollen (ord.) 4 16 4 2 6) Welt. Woollen (pref.) ...... Z 0 0 •. '- E Westnort-Stockton - 0 4 0 I-eyland-O'Brien 13 9 - 'faringamutii Totara '. 5' 0 — ' , Ward and Co 5 0 0 - ' W.f.C.A. {£ii .— 16 0

Policies. Amount. Premium. No. £ £ • 1908 11,425 1,878,294 67,671 1909 11,362 2,009,«0 70,42-5 ■1910 13,611 2,501,243 83,315 1911 13,542 2,511,865 81.2W . 1912 12,573 2.517,2C0 77,923 1913 11,758 ' 2,306,337 73,042

New South Wales 70Z.9E4. 779,955 Victoria ' 412.C63 ' 451,707 South Australia 159,618 144.9C6 Queensland 197,802 274,349 Wqst Australia 60,745 61,432 Tasmania 20,891 20,250Commonwealth 1,554,108 1,732.607 New Zealand 388,476 344,866