COMMERCIAL ITEMS

Dominion, Volume 7, Issue 2152, 19 May 1914, Page 8

COMMERCIAL ITEMS

INVESTMENT SHARES. A =-ile of National Bank shares flt £n 13s. wao the only trnnaiotion recorded in investment, sharps yesterday. The quotations were ns under:— Buyera Sellers. £ a. d. f. f (1 National Bank — 5 13 6 Equitable Building ... 9 5 0 — Met. Building-? —? -? -? -? -? — Metropolitan Building ... 11 17 6 12 0 0 Well. Investment. :.. 0 11 0 Well Trust ami I,nan ... 7 9 0 Christchurch Gas 7 5 0 7 7b I'almerston N. (Lao — 10 10 0 Meat Export (£5) - 6 5 0 Well. Woollen (ord.) 4 6 0 - Well. Woollen (pref.) 3 10 - Leyland O'lirlci! - 1 ,* 3 Golden Buy Cement 0 19 6 — Manning and Co 3 15 6 — Sharland's preference ... 1 2 0 — Wiird and Co — 5 0 0 W.i'.C.i. (Jil) - 16.0 THE BTJTTBH MARKET. The steady accumulation of butter in the cool stores in Now Zealand is an indication that there has been a big autumn make, and that there is no export outlet for the surplus. The ■ holders must rely upon local consumption to clear stocks, otherwise there will be a largo carry-over into next ecason. The statistics of butter in store for the past four fortnightly periods compare with the figures for the coresliouding period of last year as under:— 19R . 1913 Boxes. Boxes. March 31 65,333 44,623 April 15 72,211 54,870 April 30 88.C63 04.254 M:iy 15 90,274 69,814 There fl-re now about 20.CC0 boxes more in store than a, year ago, and yet the retail price to-day is the same cs it wan then. H is difficult to tell on what basis the retail price is fixed, and what itilliU'iicM the price. There havn been occasions when tile London and other outside markets were supposed to influence and fix the local prices, but that is not advanced now n<* n reason for the high price. U is iust posible that some wholesalers have made a mistake in their dealings, ond tho public is being made to pay for Die mistake. . PLANTATION 1 KUniiER. Recent Home files show that plantation rubber has been in much greater demand lately, in sharp contrast to tin; comparatively subdued state of the market for Paru. descriptions. . This activity luil\ nppareutiy. not been confined to London, and

Continental crporte. it is etatcd, expreos rather more hopeful views with regard to the outlet, for rubber in the near future. -As various Australian owned rubber ■properties are now appruachins the producins staßc, it is to Sic hoped that this cheering opinion is justified. While the manufacturing trades arc now in tlic mo.st netive period of their year, and tlie general demand from consumer; lms licen oa a large srale, it must not bo forgotten that production of plaiitntion rubber fe expanding rapidly. Figures taken from official mid other reliable sources show tlmt the area plautod in Malaya, Cejrlon, iind other Eustcru countries, his iiiercased from 551,000 acres in 1906 to 1,132,CC0 acres in 1912. The estimate for 1913 is i.SM.COO acres; and what will be planted in the future must necessarily be guesswork, but a, net progressive increase of 25.CCQ a«rc.« per niimira is assumed, -aftei- alowing for a certain acreage being abandoned annually «,? a, result of the existing niul possibly permanent, low price of rubber. According to the latest statistics, tho word's production or rubber laet year vrtls ilo.K'O tons, of which. , 44.000 tons was plftutatlon, 41.W0 tuiie Brazilian, and SO.OiS! to-ns vaine from various sources. Consumption for the Eiiuio period is stated to be 112,000 tons, anil that for 1914 is estimated by Mr. Jlonry T. Brice at 126,000 toiss, as comfiflrcd with a prospective production of 124.CC0 tons only. In tliis calculation niantatiqn rubber is £ct down at 64JM0 tons, an iiicK-aas of SO.SCO tons on the 1913 figures, but ICCO tn.ns less js expected from Brazil, and W,COO tons less from other souf-ce?. The moot point about this estimate is the anticipated expansionof 14.C00 tons in She consumption, which sooma to imply either «i recovery in traitor a drop in the pries. of rubber.

Custome duty collected nt the port of Wellington yesterday amounted to£!9CB 43. Hi.

tf.S.S. CO. DIVIDEND. (Bγ . Telejrranh.-Fress Association.! Dyncdin, May 18 The directors of the Union Steam Ship Co. have declared an Interim ilivid.a«l «f 2'i per cent, on preference shares and U per cent., on ordinary shares, ticiug at Hi© rate of 55 per cent, anq 5 per tent, respectively per onjuiiii. LOTSDOX WOOL SALES. Messrs. Do.igety ,-iriil Cowjifl-ny', Limited, Wellington, have been artvisri b>- their London office by cable, dated May 16, reading as follows:—"Wool sa'.es doserl fletive. Competition if? brisk, and buying gimerfti from all quarters. Aβ compared 'with last sale's closing rates:—Merino BUpcf greasy, par to 5 per cent, higher; merino medium to greasy, 5 per cent higher; merino, othet descriptions, par to 5 per cent, higher: merino, super, scoured nacltangcd; merino, medium to good scoured. 5 per ecus, to 75 per cent, higher: merino, faulty, scoured unchanged; fine erossbreds. grrasy, 5 par cent. to 1\ percent, higher; medium ctombreds, greasy, any change, if any, in setters' favour; coarse troasbrafe, greasy, pir to 5 per cent, hijzlmr; ?eoiiy wools, 5 iier cent, higher s line crosslireds, scoured, 5 per cent, higher; other descriptions scoured, unchanged: slipe wool, par to 5 per csnt. higher. The t-e%aX net quantity available amounted to 190,060 bales; sold to America, 24.0C0 bales: sold to Home cmisMmpfeft. 121,000 bales; eolil to Continent. 40.000 bale': Not offered, SCCO bate; carried forward, 2MB bales. New Zealand Loatt and Mercantile Agency Company, Ltd., have si-ceived the following cablegram from their London iionee, under dato Jloy 16:—Since the daft- of our lnet telegram the mnrUet has remained unchanged, except grrasy crossoTctls, for which the ronrtart is firnjef.; lEJ.catt SiJtn were sold at the sales, cf wJiii-h <O.CCO were taken for the Continent, and 24.K0 for America; SCCO bales wefo held over, Kales closed with strong competition. Messrs. Murray, Roberts find Co., Ltd., have received the following cablegram dalei May 16. from their London friends. Messrs. Sanderson, Murray and Co.:--ftiki» have closed firm, wilh rates utiehaHged; SCCO bales held over." The Hank of Jinw Zealand has received the folowing cable fldvi«e from its London office, dated May i-5 :■-"The sales fcavo clop;d very firm, mid jiro.'iiNMe arc soc/<3. There is n. good 4<?ntnnd fur oil kinds ©E wool. TotaJ quantity held over is EOO3 bales wool, of which oMO arc New ?.».- lund."

' nion commissiojteh's gable. The Dopnrtmcnt sf AEi'iuultnro-, Industries, and Commerce i-iae rceclved- tbo following cablegram from the -High Cora.mis.. sionor lor Mew Zealand, dated London, May 16. (Note—Quotations, "unless otherwise epscified,- arc average market Jirices on spot):—■ Mutton.—There arc sifrns of iinproreni'iiit in the mutton market.' There is n. bvlter demand for light, weights. Cattterbury. <id. .per lb. for light wcigW.s. There is Ttslc dranand for heavy vigiits at 3 U-16d. per lb.: North Island, <f.-d. per lb. for light weights; ewes, J 5-lGd. Lamb.—Tito eiarkct is riifiiig. There is a good demand for all lamb.' Canterbury twos, 6Jd. per lb.; medium weights, 6'd.; heavy weights, 6c1.; other th.iti Canterbury, 6Jd. for best <ui<>.lity light wci.Rhto. Beef.—The market is firm, New Zealand hinds, 4>d. »er lb.: fores, 3 ?-16d.: cbillod hinds, sJd.j fores, 3?, d. Kiver Plate SSijahents deceived during April, 1914:- - Mutton, Lamb. London 83.196 £1,935 ' Liverpool ÜB r ßsl 105,699 Cardiff <S,«O - Hull 2.516 - Southampton 15,594 11,938 Plymouth 1,261 Newcastle 6,001 600 Totals, April, 1914... 557.419 173.824 Totals, April, 1913... 154,158 «,?91 Butter.—The nwrfcet is steady with a feir business doiiiß. Danish, steady, per cwt.. 113s. to 1165.; New Zealand, ili gai'i demand) lCfe. to lOBif.; uiiso.lted, 1M«. to 1165.; Allstralian, in fair demand, IGZs. to win.: Atgentino, quiet, ICO?, to 1025.: Siberian, steady, 98s. to 100s,; Irish «reaincrlca, ijuict, 108s. to UOs. Cheese.—The n&ilvct. is wt'Okcr, siuti tendency downward. Canadian white, per <;wt., C6s. to 7C&; cotuiircd, 68s. to TO-s.; nxceptionally fine, "53.; New Zealand white, COs. to 615.; coloured. 6Z-s. 6ct. te 635. 6t1.; exceptionally flnt, Ms.; Aiistraliau ivhilo, 58s. to 69e.: coloured, 665, to 625.; English uheddar, 665. to 68s. ' Hemp. T Tlie market is quiet. ' Owing te the Mexican situ&tSo-n Hsither buyers r,oi sellers are inclined to operate, coneciolly in view of the heavy fall recently. jifanila.—Market easier, fair oitrrenl. rev ton, £27. June to August shipjncnti. f.V 103. Tlio output from Manila for the wep)wns 27,000 holes. ' New Zealftnd.-Vcry littlo hnsiness has been done witli Nnv Zcal.ind. »fimiii ! on not offerinc-. Market pfendy. O&od fair per ton, £27; ffiir, £23 !ss. (tmminnl quot.'itions). Hay to .July ehinments. .hiett-noints have sold «it. £24 IS?,; fair, £83 lcs. . • Sisal.—Tt is impassible to nlrtain quotations from JTcxicn. New Vork ciuotetiotis, nominally 5.75 renfs. Tw.-Thc Biarkcf Is firm. -Seconfl (rmtle ppr ton, £16 155.: third grade, £t? -15» Hops.—The murkpt is ant! nrlces ■ire slightly wmker. K'nglislj, p»r ™t 120s. to 1405.: Continental;' Iflfe. to SQC,= '- Cnlifornian. Efe. to Hop "" '

Wool.—The wool cult.! lw.ro do?<«i. Tho market, is flrm <il llic advum-c TVrc has liopn mi-ive biiyinp rrom oil ronaimtne wnLrcs at Home ami on lite CoitlirToi.H. Homo nKinufswi.'.-irors have Ivpcn Living "in stocks. Trail; if? Raorf. rtjni projects' nv ' favourable. American competition Ivm noon active tlirmmhoiil. ospw'ill.v for merinos and flue crorsbr«is.«. Artcficon rmr'jli«i?o=i anpraiimatßlv estimated at 24 ere hales; 31C0 \>M<* «f New Zt.ikln<l won) ore hold over. K?tirpaic!t valiips— mcrinos. Is, 2:1. fn Ib. Jfl., jwerliam. IPX. in In. Id.; inferior. Od. to !o.'il.j fini> rro'obrod=" all sradps. 3s. ?<l. to Is. .«.; rnrfium <'fo«nrens. nil srreilrs, nd. to is. i<l.• conrc» crossbrods, all grades, iCd, U, Is. FROZEN JIKAT. By Telegraph— Vteeg Ae^ciation—Copyrieht Ldtvtlsit, May 17 The Incorparctetf Society ol Meat Imoort ers' Smlthfield Diarket euutations lor tho of fri>st;n meal aro based on eclml sales of B#i less than one hundrod corcaessj of mutton or lUmb or twonty-Uvo auortors of bunt of faii- avernee Quality. Tho enotatlocs ar« isol for eclocted liiMa, blit for carcaia fairly roprcsontatlve of tho bulk of the sturmierits now on tho inarkct. Tho irficej which follow aro on the averajte a. farthlnir wr lb. moro than Shu values ci ehjn. this difference repfcsciitins the avoracv coat iJ expenoe. liandllue. toiivcsauco. auii ecUioe Hid incat:Mfly 9. May 56. Mutton- i. ■ d. Canterbury. lifht 41 4j] Canterbury, iß«lii>in 1; i|j Cnnterlmry, heavy ~.. J3 3j ! SouthUind • • North Island, best ; • • North Irtlanil. ui-Ainaty ... JJ 32 Australian, light 31; 3 ! MG Auslralicn, heavy 3> 37-16 Uiver I'lnlo. lisht • * JMver l'late, heavy 3i ,35.(5 New X.Kiland ewes 3J JS.IG Aiislßiliaii ewes 33-S 35.9 ltiver Plate ewes : 3i 3 3-8 liambfanlerbury. light ES Sj Cantorbury. medium K i^ Canterbury, lieavv i 1116 511-16 .Southland :.. 61.5-16 513-16 North IslonrI; selected ... 513-16 513-16 North Island, ordinary... 511-16 b 11-16 Australian, host 5} 8j Auitrnlifin, fnir 5 3-8 51 Australian, inferior Si sj.s lllvrr IHftti, Bret 533 57=15 ; Biver Plato, socottd S 51-16 >

Uecf— New Zealand, ox fores... -37-16 3 7-16 New Zt-aUuid, ox hint!*... ■-17-16 •!• ■ Australian, ox fore a ...:.. 3 3-8 ■ 33-S .- Austrnliiini'os''hinds -IS 41 '■' River Plate,.ox fores 3 7-16 3*, Kiver l'iate, ox hinds 43 *i ltiver I'lnlc, uliillcil fores 3J 38 Mvcr'l'latc.jltillod binds 55 55 '.; "■■ .. ItAHUITS. The rabbit market in weak. Business is almost at a standstill. Mflny of ths Jlorayshire'a Sew Zealand shipment were condemned ot Liverpool. " ' - ;, iVHBAT AND FMUK. Lonrion, May IT. The wheat market is steadier, but quiet. Shippers are holding for full prices. Three cargoes oi Australian sold at 373. to 375. Ijtl. This wheat and flour afloat for the United Kingdom totals 2.695.M0 quarters; for tho Continent, Z.XO/XB;- Atlantic shipments, 27.055; Padfle, 2MO. The total -shipments to hnrope during tho treeis amounted to 1.410.0C0 quarters, inclndisig Australasia.