COMMERCIAL ITEMS

Dominion, Volume 8, Issue 2380, 9 February 1915, Page 8

COMMERCIAL ITEMS

/ IS vestment shares. In the Investment markqfc yesterday a sale' of, Metropolitan' Permanent at. £12 was- reported. The quotations were as under:— Buyers. Seller* £ s. d. £ s. d. Bank, N.Z. (old) ............ 10 3 6 - N.Z. and R. Plate :. 2 0 0 — . CJhch..Gas (£5) .... 7 7 0. - Palmerston North Gas... 12 0 0 — KX' Insurance - 6.3,6 — Heat Ex; (£2 .128 6d.) Zls 0 — : Union Steam- (ord.) .......1 3 0 ,t> Union Steam (pref.) 1 0 9 . Kaiapoi Woollen (ord.) .. 5 0 0 Well. /Woollen (ord.) ...... 4 8 0 — Westport-. '.-. ..,1.11 ■ Leyland-O'Brien U'l'.l 9 — Taringamutu • .'. .. — 24 0 W.F.O.A. (£5) - . 6 .«;#• . LEATHER IN EUROPE. .' , Conditions in the hide and leather markets .in Europe are; interesting, but the extreme prices ruling in certain, countries, especially Germany and Austria, have practically no bearing on the markets here, owing to the feet that exports of these commodities to these two nations are extremely difficult and entirely impossible in a regular way. The present market for hides in the United States is on a higher level than has ever been reached heretofore in the history of the trade, but prices here, fade into insignificance whencompared with quotations Tilling in Germany and 'Austria, which on most descriptions of ■ raw hides and finished leather .'.wero about" 100 par 'cent, higher during the latter port of October than they were In late July, tod .as to what 1 further altitudes; have./ been reached 6ince has not been definitely, learned. ;' A good example of the abnormal state of the market in ■ Germany-./are -some- former . mail advices from ■ ,thero"-"wMch give a, report- of the (results' of>&■ public auotion sole held in Leipzig; on-October '27. "• At this sale light-' weight - sold up to 147pfg. per half-kilofor- green; weights, which is equlvalent^tOT;about 40c. , per, 1b..,f0r cured ,weight r randTight-heifers brought ias high ■as;i.l&spfg. -.per. half-kilo - green- weight, or, 'equal to'4sc;, -.'per lb. ;on the cured -weight ~ba<ite..7-''Slieisa prioes represented an . advance of nearly 15c. per lb. as compared with the previous auction in Leipzig'held late in September. .The wide difference between values here and there is shown in ttio' fact that tho highest price paTd in Chicago for packed light and heavy-weight native cows has been 23c. per - lb. cured weights, or. only,nearly.-half of what was -obtained >in ' Leipzig. . Similar conditions 'also prevail" in Germany for leather, and according _ to. former advices from there, belting butte, as an instaiico, aie Eelling, nt equal;to..ldol. 20c. per. Ib., as against top prioes here of 55c. to 56c. •Germany -(is ■an -extensive producer of leather but a small producer of hides. It is estimated that about half of the hides .tanned, in this country are imported, and hs< our .'.'domestic lup'ply ; is . materially greater than that of Germany the percentage. of hitfes Germany is much larger .'of the imported stock than here. The neighbouring neutral countries to Germany and Austria,, such as Holland, Italy, Norway, Sweden, and Switzerland, etc., all have strict embargoes in force prohibiting the exportation of any hides, or leather, so that with outside supplies practically eliminated the .extravagant rates ruling in Germany, stc., arc not surprising.. That some hides aro being shipped into Germany and -Austria, however, is strongly Suspected, and, in fact, not.doubted in the least in well informed ijuaTtere, despite all attempts to prevent it, as sales have been made hero for shipment to Denmark, «t0.,, that will ultimately' reach Germany." It is gossiped In-the trade here that despite all the embargoes, filibusters are engaged in transporting different commodities, including hides: and leather., but this talk is only given for what it is - worth, and there is no confirmation of' this sort of traffic. Parties'here receive payment for all hides, etc., when they, are' loaded '* on outgoing steamships andnaturally they O.VC not disposed •to inqniTe too jninutely as to where these shipments' are ultimately destined. It is doubtful, however, if any large quantities of hides are' going ,to Austria' or Germany os fonvardings to neutral countries are very difficult and most steamship lines S-eTlot inclined to accept hides, as they .wish' to avoid ; any complications, and ! especially: as at present they are so well supplied with what' they oonsider more desirable; freight—"Drm's ./Eteview." ;. Customs duty collected at the port, of Wellington yesterday amounted to £1498 12a.. lid. ■ - • , - ; v ' . CHRISTOHURCH WOOL SALE. IBy Telegraph—Presa Aisoolatioa.) . Christchurch. February 8. The final, wool sale of tiue season's series was held to-day, when 6702 bales were offered, making 55,349 bales for the season, as against' 54,814 bales' last year. There were few good clips offered, but a. large proportion of.the ;woor consisted of paesedin lots at the previous sole. There was a large attendance of buyers, including. a buyer for France, and a representative of the Auckland Woollen Mills. Though the sale could not be considered a brisk one/ there was a, marked rise in prices for all wool except merino. Halfbred was firm, and in some cases sold at about a'penny rise. Three-qnoxterbred showed a,'remarkable advance, the bulk of it-making fully 2d. to 3d. more than at ■ the January sale, and crossbred was about 2d. better. Merino was again very Hull of'sole. It is difficult to account for the sharp rise. The, two Bradford buyers and the buyer for Prance were the largest operators, while the representative of the Auckland Woollen Mills secured a good quantity. It is probable that some of the wool was required to make good the wool lost in the Tokomoru. ; The following is the range of prices aa compared with those at the January sale, which are given in parentheses:—Medium and. interior (61d. to 103 d), Bd. to 10d.; super halfbred (12d. to 143 d.), 13d. to 14id.: medium haifbrod (10id. to 113 d.), lid, to 123 d..: inferior haifbrod (7sd. to 10d;), 9d. to 103 d.; super CorricdaJo (lZd. to 141 d.), UJd. to 123 d.; medium, and inferior do. (9d. to 113 d-). llid. to 123 d.; super threequarterbred (lid. to 123 d.), 33d. to 14d.; medium three-quarterbred (93d. to 103 d.), -lid. to 12Jd.;. inferior three-quarterbred (7d. to 9Jd.). 10d. to 103 d.: super crossbred (lid. to 12d.),' 125 d. to 13Jd.; medium crossbred (91d. to 103 d.), lid. to 12d.; inferior crossbred (6Sd. to 9M.), 9d. to 103 d.; loncwool (9d: to 10Jd.), 9id. to 113 d.; Down wool '(10d. to 13Jd.), 13d.; merino pieces (63d. to 9Sd.). 7d. to 9jd.; first halfbred pieces (10$ d. 'to 123 d.), 12d. to 13Jd.; crossbred pieces (6d. to 10d.)„ 93d. to 113 d.; locks and crutchings (SJd. to Bd.), 4d. to 93d.

LONDON WOOL SALES. STRONG AT TEE CLOSE. - By Telegraph—Press Association—Gopyrieht London; February 7. The wool sales closed well with sustained competition. Prices were firm for all sorts" Merinos generally Bhowod 10 per centum above December rates, crossbrcds fully 5 per cent. The United States have taken 15,500 bales. • The following prices were realised lor the fleece portions of New Zealand cups Darned White Rock, top 151 d., average 143 d.: Told or, 14id. and 14d.; Wohanga-, 15d. and 143 d. , . The number of bolos catalogued to Friday was-130,808; sold, 125,731. . Messrs. Murray,' Roberts and Co., Ltd., have received a cablegram from their London friends. - Messrs. Sanderson, Murray and Co.. dated Fobrnary 6, ae follows: —"Sales have closed with good spirit: sates*,

f dosinsr rote show no ohango; 20,000 bales held over." The New Zealand Loan and Mercantilo Agency Company, Ltd., Imiyo reoeived tho following cablegram _ from their London houeo under d*to February 6:—London wool' sales .have closed. .Tiio market is strong and tho position ia unchanged. I ■ ■ j' .' FROZEN MEAT. I By Telegraph—Prces Association—Ctotnrrielrt j . London, February 7. The Incorporated Society of t Meat Importers' Smith field market quotations for the undermentioned classes of frozen me&i are based on actual sales of not le6S than one hundred carcasses of mutton or lamb, or twentyrfive Quarters of beef, of fair average Quality. The auotations are not for eoloeted lines, but for parcels fairly representative of the bulk of tho shipments now on the market. The prices wnich follow'are on'the average a fcXujliTTE per lb.- more than the values ex .ehip, this difference representing the average f cost ill expense, ' handling, conveyance, and selling ■of the meat:— Sheep—Canterbury, light and medium, sgd. North Island, 6 7-16 d-; beet brands, FoTtfl, 5 13-16 d.; hinds, 6 3-Bd. _ Australian—Sheep, first quality, Wd. Lambs, best quality, 6Jd.; fair, old.; inferior, 6d. ■ . ... Beef—Fores, none offering; hinds, oip* Argentine chilled beef, fores 6&d., luiids. 7id.- ■. Other meats unchanged. Babbits-The market is firm. Pnoea ore unohanged. WHEAT AND FLOUR. ' London, February 7. The market is Quiet, and prices firm. Advices 'of general rains .in Argentine aro counteracung large, shipments. Bumper wheat harvests in Tndifl, arc described ae absolutely ; certain. ' ■The .wheat and flour afloat for the united Kingdom -total 2,060,000 quarters, ineluding 'for "tic Ooutineiit 2,230,000. At* lantic shipments total 628,C00, Pacific 70.000. The total quantity afloat for Europe ifl 1,230,000, including from Indiii 11,000 -auaJfters, and Argentine 230,000. BOAED OF TRADFj BETtJBKS. Londoni February 7. Tho "Board of Trade returns show thftt the • importe for January decreased by £604,003, exports by £19,657,573, and re-ex- . ports by £2,701,478, ae compared with tho previous January. HIGH COMMISSIONER'S CABLED MABKET . REPORT. The Department of Agriculture, tries, and Commerce has received tho 191lowing oablegram from the High Commissioner for New Zealand, dated London • February 6. -' (Note: Quotations, unless otherwise specified, aro average market prices, on .spot):— ~, Mutton.—The market is ann, with, cji Improved demand, eepecially, for lightweights,. Canterbury, per lb., sgd.; heavy' weights, s£d;; North Island, sid. -Lamb.—A good demand continues, ana prices are firmer on account the difficulty, in obtaining suppliC6. Owing lay in di-scharging, Canterbury supplies are - nearly . exhausted. Quotations nominal. Canterbury, per lb., 6gd.; other than 75d. . Beef.—Tho market is firm. Stocks or New Zealand on hand are-light. Hinds, per lb., 6 3-Bd.; fores, 5 13-l6d. Of chilled there is ; 'only a email supply. Hinds, per lb., 7}d.; fores, 6Jd. V . . . , Bntter.—The market ifl cruieter and prlceti easier.- Danish,-slow, per cwl.j to 146e.; Kew Zealand, 138s. to 1405.; unealted, occasionally 1425.; Aust.ralian, 1345. to 1386.; Siberian, ~*'n6 arrivals;. Argentine, quiet, 1345. to 1365.: ' Cheese.—The market is Ann, and prices continue .to advance. It . is. stated' that supplies do - not most requirements on account of the abnormal demand. The jnarket' is advancing steadily/ Canadian, firm; white and colourod; per cwt.,_Bßs. to_9tl|.; New Zealand, market firm, with good domand;. -white and coloured, 86s. to 88s. lie estimated' Canadian cheeeo stocks at London. Liverpool, and Bristol on February 2 *were'Bl,ooo boies, as against 123,000 at the same time lost year. Now Zealand and. Australian chece« stocks at London and Bristol on February 2 were: 22.700 crates, as against 12,700, at- the same time laet year. Hemp.—The market is active, with a good demand. Stock 6of New Zealand fije small. ,Hew Zealand, good fair, per _ton, £28 10s.; fair, £26 10s.; fair current Manilla, £30. Forward shipments: New Zealand; pood fair, £28; fair. £26; fair current 'Manilla., £30 10b. The output from Manilla for the week wae 18,000 balee. ■ ■ ' Wheat.—The market is firm, and prices 'continue 'to ' advance. Quotations fire .nominal. Canadian, per quarter, Ms.; American. 63e.; ' Argentine, 6Ss. ' Oats.—The market is,-firm, but: tho demand is only, moderate. New Zealand Gartons, per quarter. 345.: Argentine, 31s. 1 ''Wool—The wool sales closed with very stronir. market, prices obtained. bemK the best for t'ho series.. The ■ supply: falls short of the . demand. Americans aro operating freely in merinos, and France and Italy are again buying. Nothing was hold over. Intimated values are: Fine cross l breds; 51l grades,'ls..3d. to Is. sd. per lb.; medium crotebreds, all grades, Is. 2d. to Is. 4d.; course'crossbreds, : all grades. Is. Id. to Is. 3d.; snperior meTiuo, la. to la. 2d.; medium, lOd. to 1.; inferior, Bd. to lCd.