COMMERCIAL ITEMS

Dominion, Volume 9, Issue 2696, 16 February 1916, Page 8

COMMERCIAL ITEMS

' INVESTMENT SHARES. In the investment market yesterday a sale of Walrarapa Farmers' Co-op. shares, £5 paid, at £6, was recorded. The quotations were as follow:— Bayers. Sellers. £ s. a. £ s. d. National Bank 6 0 0 — Hank N.Z. (d£3 6s. BtL) .... 10 10 0 - Bank N.Z. (£6 13s. 4d.) ... 16 7 6 — Union Bank bo b 0 — Veil. Invest. T. and A. .. — 011 0 Well. Trust-, Loan, Ltd. — 7 10 Well. Gas (prof.) 0 18 0 0 18 6 National Insurance 2 6 0 Gear Meet (£1) ; — 44 0 Wu. Heat Export (525. 6d.) 2 14 6 — Union Steam (ord.J 15 6 16 9 *Woll. Woollen (ord.) .... 4 18 0 — 4 Well. Woollen . (pre!.) ... 3 5 0 — Taringamutu To-tara .... — 20 0 bharland lord.) 14 6 — . Sharlaud Cprcl'J 14 6 — s Ward and. Go 5 13 0 — *)Sx dividend.

THE FLOUR MARKET. The man who can predict correctly the course of the Hour market for the next few months is a clever man," eaid a Wellington flour. merchant to a DOMINION reporter yesterday. Admitting that thero is an enormous surplus of wheat (and consequently lour) in Australia, it does not altogether follow that this will mean a serious drop in the price in Now Zealand. On this point Mr. P. Virtue, of the LNorthcrn Holier Mills, ' Auckland, ha 6 said:— "The Commonwealth surplus of wheat over its own requirements is 2,678,571 tons. To ship to London it would require 335 steamers each carrying £000 tone. It is apparent there will be some difficulty in securing such a large number of steamers, apart from the dangers of enemy cruisers, which will not tend to ease the position. The question suggests itself, What will • the Commonwealth do with its immense surplus, if blocked for tonnage? Its growing crop will probably be quite as heavy as that ,iu<st harvested. The world's yield shows an increase of 25 per ccnt." From the above it .will be judged that Mr. Virtue is of opinion that the ships will not be available to carry Australia's surplus Hour to London or elsewhere, anil so asks the question: "What will the Commonwealth Government do with its immense surplus?" That, of course, will be a matter for arrangement between the Commonwealth Government and the Imperial authorities. It has yet to be proved that the Imperial authorities cannot handle the surplus. In the meantime the Commonwealth Government, which is administering the distribution of all flour, has received very large orderß from the Imperial authorities, and is putting the lash on to the millers in order to supply at the earliest. Letters from Melbourne brokers to local merchants indicate that they believe there will be difficulty in securing flour for export to New Zealand. Practically 110 flour not ordered before February 2 is being allowed to be exported, and one writer Istates that the embargo is not likely to bo lifted until early in April. If this proves to be the case. Australia's his surplus may not affect the price of flour in New Zealand at all. At the latest Australian flour was being nitoted at £11 lvs 6d. per ton. f.0.b., which meane £14 in Wellington, but the quotation is given subject to permission being obtained to ship. There are still lines of Australian flour to arrive that were ordered prior to February 2, but generally speaking Yu~tralian flour is now in short supply,'"and s being inquired for by bakers, who find that it mixes splendidly with New 'Zealand flour. A good deal of pollard and oats are he. ing imported from Australia, a large conslgnment ol both having arrived ex Wimmera. As a result pollard has dronncd £1 per ton. 1 *• __ Customs duty collected at the port of 0s 9d St<,n yestcrday "mounted to £5107 SYDNEY WOOL RALE. By Telegraph—Press Association-Copyright Sydney, February 15. Tile vrool sale ruled firm at late rates. THE METAL MARKETS. (licc. February 15, 8 p.m.) London, February 14 Copper .-Spot, £105 155.; thrnc months £104 ss. Electrolytic, gpot, £13-1: throe months, £1-57. Tin.—isixu, £160 55.; three months, £160 Pig-iron.—93s. 6d. per ton. SUvor<—Bar Biker U quoted at K-7-M,