COMMERCIAL ITEMS.

Dominion, Volume 8, Issue 2371, 29 January 1915, Page 8

COMMERCIAL ITEMS.

INYEBTHENT SHAKES. A rale of WestportStoctoton shares at 43. B<L was the only transaction in investment shares recorded yesterday. .Tho quotations were •ag under :— Bnycri. Sellers. £ s.d. £ e. d National Bank 6 4 0 — Palmerston North. Gas ... 12 0 0 — Well. Gas (£10) 16 5 0 - Ohristchurch Meat 1610 0 — Gear (£4) 14 0 0Well. Woollen (ord.) 4 8 0 — ' Westport Coal _.... 1 10 9 — Leyland-O'Brien 11 6 — Taringamutu ■ — 2*o Manning .and Co "4 10 0 5 10 Saarland (ord.) 12 0 — Slioiland (pref.V 12 0 - Ward and Co _ 6 7 6 — Union Steam (ord.) ...... 13 0 — Union Steam (prof.) ...... 10 6 — GERMANY AND COPPEB. . That Germany was feeling rather acutely the strain on its resources of copper was made clear fully a month ago by the willingness of buyers for that country to pay for supplies of the metal rates double the rates then ruling in the 'outside market. Not only- the matter of her pressing need for replenishment of copper for war purposes, hut also- for ordinary commercial requirements must the pinch be felt severely. Germany, as has been pointed out, used to be the largest customer of tho United States,. and tho sudden stoppage of tho great bulk of exports from that country to .Buropo has entailed. considerable hardships on producers in America. Tie effect, of the embargo on copper I for Germany must benefit the Allies in several ways. ' It not only helps to shorten the duration' of hostilities, but it ensures that supplies of the metal for other consumers will bo ample, and bleo that the prices, will not rise to an unreasonable level. In one . respect this has created • somewhat of a phenomenon in the history of war requirements and,war values. It is an outstanding feature of all war crises that while most people suffer the contractor for war.material of all sorts flourishes. Yet on this occasion the producer of copper—an indispensable requirejnent of the combatants—is the only one who has failed to profit hugely by the present conflict. During the four months to the end of November, last the quotation of standard copper actually declined, on balance, £2 ss. per ton, and in the interval touched £3 15e. lower; while, as compared with a year ago, it was £12 10s. down. As compared with a year ago the visible supply at the same time was 8900 tons higher. Exports from, the States to Europo during the' four months totalled 71,900 tons, as against 126,200 tons for the corresponding period of 1913. The decline roughly represented the amount Germany would otherwise have taken, minus the extra quantity which Great Britain and probably certain neutral countries had obtained. Consignments from. Australia and Chile have, aggregated'in'the same period 17,700 tons, n 9400 tons less than last year.. The American Copper Producers' Association hoe ceased to publish figures of stocks Bince the, outbreak of war, but this step is held to have been dictated by market reasons. Tho probability is that refineries continue hard at work„on stocks, and that there is no likelihood-of any. shortage developing. The .steady. Improvement in the industrial situation -in- America itself, is' quite ample 'justification for' assuming that supplies will not be "allowed to- get too low. And so far as this.is good for the States, it is good also'for;the Allies.

';; AUSTRALASIAN GOLD OUTPUT. Continued 'diminution is disclosed by the figures relating to the gold production of Australia.. Tho totals for 1914, as nearly as they can be ganged from statistics which have been furnished by the Ic'iues Depnrtmente of the various States, with the exception of Tasmania and South Australia, which are not as yet available, aggregate 2,048,905 fine oz., as against 2,202,546 fine oz. obtained in 1913, the difference being 153,641 flno oz., in favour of the last-mentioned term. A comparison is given hereunder:— 1913. 1914. , Fineoz. Fineoz. Victoria 434.932 409,706 ' New South Wales... 149,657 124,507 Queensland 263,313 248,395 Western Anstralial,3l4,o44 1,232.977 . Tasmania' ':..._ 33,400 27,320 South' Australia. ... *5,600 ■ 6,000 Commonwealth ....2,202,546 2,048,905 New Zealand..... 343,408 193,444 ■ Australasia. .......... 2,545,954 2,242,349 *1913 totals estimated. The shrinkage shown by the return for Western Australia, is 81,067 fino oz.; Victoria's output fell back to the extent of 25,226 fine oz.j New South Wales miners won-25,150 fine oz. less, and from Queensland claims the yield was 14,918 fine oz. lower-than in 1913.- The variations enumerated leave the quantity of gold produced last year in Australasia in a net shortage of 303,605 fine oz. when compared with the yield in '1913, but the total given for New Zealand in 1914 con hardly be accepted as an exact statement of production, inasmuch as the exportation of the metal from tho Dominion, which usually is taken as the basie whereby to estimate the outpat, has not been permitted since the outbreak of the war. Customs duty collected at the port of Wellington yesterday amounted to £5553 9s. lOd. .:.'.■: HIGH PRIOE OF BEEF. \ ■ Messrs. Gilbert Anderson and Co., London (Messrs. Mellsop, Eliott. and Co., local agents, ore prepared to offer 425. 6d. per 1001b. for ox beef for shipment to London. They are also prepared to pay the equivalent of ;425. 6d. at any works, taking.into consideration the difference ■in the • cost of the freezing - charges. ; The beef is wanted for the British troops at the front. . LONDON WOOL SALES. '■';'.PRICES CONTINUE FIRM. By Telegraph—Press Association—Copyright London, January ,27. The wool sales are very firm. Prices realised:-Den, 13|d., 12Jd.; Midlcin, 15d., |12!d.j-Edgeroi;' UJd., 10d.; Llanillo, lid., 10Jd.; Bungleguly, 9Jd., 91d. New Zealand, Tehoc, 16d., ISJd.; Kra, 15d., 145 d. • : SYDNEY ( WOOL SALES. (Rec. January 28, 11.20 p.m.). Sydney, January 28. The week's wool Bales closed strong, wrth an improved market and big demand for all good classes. There was spirited competition by. Home, American, Japanese, French, and Belgian representatives. Greasy Merinos sold up to 14d„ while crossbreds 5 per cent, above last week's ruling rates. | AUSTRALIAN MARKETS. (Rec. January 28, 9.40 p.m.) Sydney, January 28. • Oats, Tasmanian,. 4b. 6d. to 4s. 7d.: Now Zealand "A" Grade Gartons, 4s. 6di; "B" Grado, 4b. W.; barley, Capo feeding, 55.; ] English, ss. 3d.; maize, 4s. lDd. to ss. Is.; I potatoes, Tasmanian. £4 ss. to '£4 10s.; j onions, £10 to £11 10s. I Adelaide, January 28. Wheat, 7s. to 7s. 3d,; bran, £2; pollard, £2 to £4. MELBOURNE HIDE BALE. (Bee. January 28, 9.40 p.m.) Melbourne, January 208. At tho hides sale, thcro were good supplies, and the demand wae active. Values were about Jd. higher. TALLOW SALES. London, January 27. At the tallow sales 1039 casks were offered and 921 sold. .Prices wcro unchanged. -METAL MARKET. ''.-.> London, January 27. Copper—ForC forward delivery, £63 126. 6d. to £63 17s. 6d.;. electrolytic, £67 to £67 10s. Tin-On the spot, £167 10s. to £168; three months,'£ls6,-to £156 10s. '■■ Bpelter-£34 55.'t0.£34 15s. ' Bar silver is quoted at 2Zjd. per onnco standard. •■;-- WHEAT. London, January 27. Tho wheat market is firm. Prices are hardening. LINSEED OIL AND TURPENTINE. London, January 27. Linseed oil, £27. Turpentine, 375. 6d.