COMMERCIAL ITEMS

Dominion, Volume 7, Issue 2257, 17 September 1914, Page 8

COMMERCIAL ITEMS

INVESTMENT SHARES. In tho investment market there was yesterday a sale of New Zealand and Raver Plate shares at 3Bs. The quotations wero as under Buyers. Boilers. £ s. d. £ s. d. National Bank 4 17 0 — Bank N.Z. (£1 6s. Bd.) ... 9 10 0 — Bank N.Zi (£6 lis. 4d.) ... 14 15 0 - Union Bank 52 10 0 — Auckland Gas :.... 17 0 — Ohch. Ctas (£5) 6 17 6 - Wellington Gas (£10) ....1515 0 — Wellington Gas (prcf.) ... 0 19 ■ 0 — South British ' Jl9 0 — Canterbury Heat 710 0 — Cliristchurcli Meat 14 17 6, — Union Steam (ord.) 1 1 9 — Westport Coal ; 18 0 — Manning and Go 3 18 0 — Sliarlanrt (ord.) 0 19 0 — ShaTland (pref.) 0 19 0 — Ward and Co: — 5 10 UNION COLD STORAGE. The directors of the Union Cold Storage Co., an organisation which controls an, extensive business, the character of which is indicated in its title, conveyed to shareholders in their report for 1913 some information which is of interest to Australian stock raisers. Tho document stated, inter alia, that in their private capacity the,managing directors of the concern had purchased during the year very large cattle stations in Northern 1 Australia, and some 230,000 head of cattle thereon, the properties comprising something like 14,000,CC0 acres, or over 21,800 square miles, mostly in one block, and the country was declared by the board to possess immense possibilities in connection with the raising of both cattle, and sheep. Commenting on this transaction when addressing shareholders at the annual meeting in London, the chairman intimated that arrangements had been mode for tho erection of freezing works. "As time goea on," ho added, "and if these pastoral properties prove to be a desirable acquisition, they may be acquired by the company. but- a great deal of development work is now being done, and still has to lie done, and, therefore, it was not thought desirable that tho company should take any interest- in t.he purchase until .tho value of the properties has been proved. We fully anticipate that the freezing works <Vt Darwin will prove to be a desirable acquisition, but before any actual purchaso is made the shareholders will be consulted in general meeting. The Commonwealth Government is asking for Parliamentary powers to build 1600 miles of railway, costing about £10,000,000, to connect with tho Darwin railway a,nd the south for tho development of Northern Australia. As these railways are opened, tho freezing works will be of increasingly great benefit to the pastoralists, and consequently w ju bring increased business to our company." Customs duty oollected at the port of Wellington yesterday amounted to £2841 12s. 2d. WHEAT MARKET. By Telegraph—Prees Association—Copyright London, September 15. The wheat market is slow at from stepcnco to a shilling decline.' Owing to the weakness of American and the absence of British demand, 475. 6d. is asked for Australian landed and 465. 6d. for Australian afloat. Chicago, September 15. There has been an enormous liquidation of securities in Chicago. This, combined with the increased offering of new season's wheat, led to a dosline in tho cereal quotations of tho day of from 63 cents to 71 cents.