COMMERCIAL ITEMS

Dominion, Volume 9, Issue 2822, 13 July 1916, Page 8

COMMERCIAL ITEMS

• I'BODUOING LOW-GBADE HEMP. In tl/j course of his annual report., the Secretary for Agriculture says:—"lt le noticeable that a large quantity of comparatively low-grade (pliormium) !s being, produced. It is customary to attribute some blame to the millers iu reg.ard to this, and no doubt there is much to bo said in favour of at--all times maintaining tlioir. output of- the highest possible quality. It must, however, be recognised that millers cannot be expected to produce any grade but the one that pays tliera best in ■ their individual circumstances. I hope that the relative prices of tnc higher grades will won, return to a level that will induce millers to do their very best work; In this l connoctjou the Department's investigation of the poste that are deteriorating the phomium--1 oaves should be of great assistance to - millers If it results in the discovery ' a practicable remedy. The preliminary work of the investigation fs now competed, and definite experiments arc about, to commence. In addition some work \u connection with the cultivation of pho-lnium-lenves will shortly be initiated at. Wcrcroa Experimental Farm." Customs duty collected, at the port of Wellington yesterday amounted to £4999 15s. 4d. L-ONDOX WOOL SALES. The New Zealand Loan and .Mercantile Agency Company, Limited, have received the following -cablegram from their London house, . under date July 11Merino market active; as compared with June 8, 5 per cent, to 7J per cent., higher. There is a good demand for fine crossbred at par' to 5 per cent, higher,' but coarser is par to 5 per cent, lower. The. United Farmers' Co-operative Association, Ltd., have received the following cablegram from their London agents, under d*ate July 11:—"Fifth series of wool ! sales opened to-day. large attendance of buyers. Fine crossbred advanced 5; ,per cent; medium and coanse. par to S per cent, lower, compared with closing rates of previous sale." Messrs. Wright, Stephenson and Cl]., '.limited, report having • received the following cable message from' their "london agents, under date July 12:—"Crossbreds, Bnc, unchanged; medium coarse, p.ar to live per cent, lower, fullest decline on shabby lots." . Messrs. Murray,. Itoberts, and Co., Ltd. have received the following cablegram from their London friends, Mossrs; S'lndornon, Murray and 00., dated July 11 : s "Sales have opened with good attendance | of buyers; merino and fine crossbred have I advanced 5 per cent.; medium and coaTEe crossbred inferior have declined 6' per cent." Messrs. Dalgety and Company, Limited, have received the following cablegram from their London office, dated July 11:— "The wool salc6 opened a. fair selection, and a good attendance of buyers, i Competition was animated. As compared with the closing rates of tlic June sale, merinos advanced 5 per cent..; fine orossI breds remained unchanged, but medium and coarse were from par to 5 per cent, lower; slipes were unchanged." . The Bank of 1 New Zealand has received the following, cablegram -fjom tlioir London office,, under date July 11:—The sales have opened with merinos 7i per cent, to 10 per cent, dearer, whilst, crossbreds are on the average 5, per cent, cheaper.

I.OXDOS MARKETS.. By Tele?ram.—Press Association—Copyright London, July 11, Copper.—Spot, £84 10s. per ' ton; three months, £E3 lte.; electrolytic, £128. Tin—Spot, £170 ss. per ton; three months, £170 15s. Lead—Spot., £23 per ton, forward delivery, £27. Spelter.—Spot, £44; three months. £40. Silver—2B(l. per ounce standard, bar silver. , ; . I IiONDOJ? MARKETS. Australian-Xew Zealand Cable Association. (Reo. July;!!, 7.20 p.m.) London, July 12. 1 Wheat.—Market firm, cargoes dearer. Jute.—Market unchanged. . UNION BANK OF AUSTRALIA. Australian-Xe-.v Zealand Cable Association. ijßec. July 12, 7.20 p.m.) London, July 12. Tho Union Bank of Australia has declared a dividend of 10 per cent., and a' bonus of 2 per cent., carrying forward £71,374.