COMMERCIAL ITEMS

Dominion, Volume 8, Issue 2288, 23 October 1914, Page 8

COMMERCIAL ITEMS

. .INVESTMENT SHAKES. " Tho sales made in tho investment market yesterday were: Union Bank-At £51, nnd TTttion Steam, ordinary, at -21s. 9a. The quotations were as follow:— Buyers. Sellers. £ s. d. £ e. d. Notional Bank ................ — " '530 Bank N.Z. (£3 6s. fld.) ~ ' 10 4 ° N.Z.' and Eiver Plate, ...118 9 - . Wellinston Gas (£10) - ■ 1« 7 6 Gear (£4) - ".J »' Gear (£1) . - 3 12. 6 Meat Export (£2 12e. 6d.) -. 215 0. Well Woollen (ord.) .....: 4 7 0 ' - Ley'aud O'Brien 116 — Golden Bay Cement : — 10 0 Pharland (ord.) 10 0 - Sharland (pref.) 10 0 - ■ Ward and Co - 5 10 Customs .duty collected at the port of Wellington yesterday amounted to £2116 3b. Bd. . GALVANISING WIBE. There are'two ways of galvanising wire,, according to an expert. One way, adopted bv the Germans and Americans, is to wipe the wire as it comes out of the spelter bath. ■ The result is that the wire has avory amooth and bright appearance, but it has the thinnest possible coating of 6poltev. The other way practised by English manufacturers is to coil the wire exactly as it comes out of the molten spelter. In this way you do not get so smooth and regular a surface as in the wiped wire, but you got double tho quantity of motel on the wire and it will last twice as long.' OANTEEBTJET PETROLEUM COMPANY. (By iielegrapH.—Press Association.) Ashburtori, October 22. The Canterbury Petroleum Prospecting Company 'Officially opened ite oil-boring works at Oliertsey (12 miles from Ashburtori), this afternoon, in the presence of about 700 people. Boring was commenced last week. The speakers included tho company's chairman of directors (Mr. 0. J. Harper), A. Joyce (uuumeer), Messrs. G. T. Booth, end W. Eeose (Christ Church), and 0. J. Williams (engineer and secretary of' the Lyttelton Harbour Board). At the present time the company has 497 shareholders, holding a total of 14,000 £1 shares.

THAMES DRAINAGE BOARD. PUMPING OPERATIONS TO CEASE. Auckland, October 22. The Thames Drainage Board, at its meeting to-day, decided that owing to tho difficulty in obtaining moneys duo from contributing companies drainage operations should cease at the Thames on October 29. ' Mr. Hudson -said a meeting of. directors of the various companies interested aws. held, and • tho following resolution was poised :—"That reprosetnatives of the various mining companies hero present recommend the Drainage Board to stop operations at once. The matter. Mr. Hudson continued, was very important. Tho board's expenses amounted to £6000 per year, and tho finances would show that there was a sum of £10C0 duo from two or three of tho contributing companies. There seemed to be every probability that there would bo a difficulty in getting that sum paid. The board's financial position had been giving considerable anxiety to himself and other members during tho last few months. He did not sea that the meeting would havo- any other duty but to order the cessation of pumping operations. Mr. Hopkins suggested that beforo taking any action the board should acquaint the Government and the Thames Dcop Levels Board of what it proposed to do. Mr. Hudson said this would bo done. The Deep Levels Board had no money with which to pay for pumping. The five contributing oompanles which paid for tho drainage also paid to the Deep Levels Board. Mr. Hopkins remarked that tho Tictoria, Kuranui, Caledonian, and Waiotahi Companies were anxious to prospect at the 640 feet level. 'Mr. Coe: Gold-mining at this time is an absolute luxury with local companies.. Wo pay contributions in the hope of getting something in the future, and when tho hopo . is remote and times aro pressing we must cease to have the benefit of that luxuryMr. Hudson moved: "That the engineer bo instructed to prepare to cease pumping as soon as the Supervisor of Deep Levels advised that he has removed all movable plant to the surface, actual pumping to cease on October 29, and the Deep Levels Board and the Government to bo notified accordingly." Mr. Coo seconded the motion. Mr. Hopkins 'moved as nn amendment: "That in view of the fact that the Drainage Board -is unahle to continue operations, and that it is of tho utmost importance that a large body' of miners should not be thrown out of work at the present' time, a deputation wait, upon tho Minister of Mines to lay t.ho matter before him, and to rouuest assistance from tho Government." Mr. Lowe seconded tho amendment. Mr. Hudson stated that 22 men were affected, and to ask the Government to spend £6000 a ycer on behalf of so small a number of men would bo useless. Tho amendment wan lost and Jlr, Hudson's taut Jlsn ws earned. j

FROZEN MEAT MAEKET. Messrs. Gilbert, Anderson, and Co. {Meters. Mollsop, Eliott and Co., local agents), reporting on the frozen meat market, 'under date London, September 15, write as follows:— The total arrivals of frozen meat from all sources continues to rule light. Holland, however, owing to tho war, now finds London her only market, and. meat usually font to Germany and other Continental nations is being received here in addition to the ordinary supply. Home6'rown produce, also, is still being sent forward in heavy quantities, particularly beef from Ireland.. Home Grown—Beef—Scotch, 7d. to 73d.; English, 6Jd. to 7Jd.: Irish, 6Jd. to 7d. Mutton—Scotch, BJd. to 9d.; English, 7d. to Bid.; Irish, 7d. to 73d-; Dutch, 61d. to 7Ad.j ewes, sjd. to 6d. Tegs-Scotch, BJd." to 9Jd.; English, Bd. to Bid.; Irish, Bd. to 9d • Dutch, 7id. to BJd. Scotch ILUI lambs, 74d to 9d, ' Frozen Mutton—A good demand prevails for forward shipments at higher prices than at present ruling. Present supplies consist chiefly of Now Zealand brands Canterbury, 461b. to 561b., 53d.; 561b to 641b., 53d.; 641b. to 721b.. s}d.; Southland, 561b. to 641b., s}d.; North Island, 561b. to 641b., 5 3-Bd. (best s}d.); ewes, 481b. to 641b 5 l-Bd.; Australian wethers, 401b. to 601b old.; second quality; 351b. to 551b., SJd'bouth American wethers, 401b. to 551h 5 7-16 d.; 551b. to 721b., 5 3-16 d. Frozen Lamb—There are l some weak holders, and values have receded sli"htlv Canterbury, 281b. to 361b., 6 13-16 d.: 361b to 421b., 6 9-16 d.; 421b. to 501b., 6 3-Bci: (second quality small 6 9-16 d.) ;■ Southlands and selected North Islands, 281b. to 421b.- 65d • ordinary, 281b. ■to 421b.. 6 3-Bd.; South American, 281b: to 361b., 6 3-Bd.; 361b. to 4210., o 7-8(1, Beef.T-ChlUed has been exceedingly short and Irish is being utilised instead. Ohilled Argentine fores, 5 7-Bd.; hinds, 73d.; frozen New Zealand fores 53d., hinds 63d.- Australian crops 53d., hinds 63d.; Argentine fores 5Jd kinds 6 7-Bd,; Uruguay fores 5 5-Bd., hinds 6 5-5(1 AUSTRALIAN MAEKETS. By Telegraph-Press Association-Copyright . (Eec. October 22, 10.10 p.m.) _ ■ ■ Sydney, October 22. Wheat, 4s.' 6d.: flour, £9 I7s. 6d.; oats, Tasmanian, 3s. Bd. to 3s. 9d.; Algerian 3s. 6d. to 3s. 7d;; barley, Capo feeding 3s! 6d., English 3s. 9d.; maize. 3s. 9d. to 4s • bran and pollard, £6 65.; potatoes, mama, £6 10s. to £7; New Zealand, up-to-date, £4.45. to £4 10s.; onions, Spanish 125., m versions to lis. . ICd.; butter, selected lMs„ secondary 9os. to 9te.; cheese,-6d. to 6?d.; bacon,. 9d. Adelaide, October 22. Wheat, 4s. 7d.; flour, £10 10s. to £11; bran and pollard, £7 17s. 6d.; oats, 3s. 6d. MELBOUENE HIDE SALE. (Eec. Ootoher 22, 10.10 p.m.) .. ~.„ Melbourne, October 22. JA tho hide sale thero was good competition, excepting for slipce, which were a farthing lowor. TAILOW SALES. <r*«.' *'n 1' 0 „ ntlon ' Ootober 21, At the tallow sales 949 casks wcro offered and wore sold. Mutton, fine, J6s. 6d • medium, 305.; beef, fine, 355.; medium, 28s.