COMMERCIAL ITEMS

Dominion, Volume 9, Issue 2833, 26 July 1916, Page 10

COMMERCIAL ITEMS

INVESTMENT SHARES. On the Wellington Stock Exchange yesterday a sale of Union Steam ordinary shares at 40s. 6d. was recorded. The quotations were as under:— * ■ Buyers. Sellers. £ s. d. £ b. d.

Customs duty collected at tho. port of Wellington yesterday amounted to £4196' 14s. Id. THE P. AND O. AND N.Z. SHIPPING CO.'H AMALGAMATION. .By Telegraph—l.'ress A&iwiaticn. Chrlstchurch, July 25.. When the proposal to amalgamate tna New Zealand and the P. and 0. Shipping Lines was first mooted, instructions were received in New Zealand that shareholders of the New Zealand Line should he circularised, and replies received by July 17, As, however, shareholders , are scattered over all parts of the Dominion and Australia, and in -countries even further away, it was imiiossible to have all replies in by that, dote, and it was decided to receive them until further notice, which is the position at present. Shareholders are, however.' responding promptly to the circular, and about 80 per cent, of tho replies have now been received, and all arc in favour of the proposal. The final decision of the New Zealand shareholders Is subject to confirmation hy shareholders in the P. and O. Line, but it is cou&idesed that, the proposed amalgamation- i£ certain to bo agreed upon by both sides. '' .' ■ SOUTHERN MARKETS. '. THE WHEAT PROBLEM. Chrlstchurch, July 25. Tho cable message from Melbourne announcing that the Wheat Board may reduce the price-of wheat to about 4s. baa had a disturbing effect on the local market, and both millers aud merchants havo ceased buying for the time being. Tho doubt that has been in farmers' niiuds whether it will be advisable to sow any quantity..of wheat in th« spring will bo strengthened by the. cheapening of wheat in Australia, alii the possibility: that both wheat and 'flour wUI be heavily exported to tho Dominion. A deputation of Canterbury wheat growers will wait upon the Premier to point out the seriousness of the position. It is probable that an Increase, in the import duties will be asked for to prevent the dumping of wheat aud flour into the" Dominion.

There is no change iii- oats or chaff, tho lattor being in-Jimited. demand. Vhe potato market is dull. A few purchases arc being ■made'at £6 at country stations, "but growers arc not seUing freely, in tho hope that the market will recover next month, when stocks now held in Auckland are reduced. At present the prices offered by Auckland merchants for now business would not warrant JE6 being paid at conn? try stations.. ' THE METAL MARKETS. . Australian-New Zealand Cable Association. (Bee. July 25, 10 p.m.) . London, July 25. Cqppcr.—£93 10s., £93 55.; 'electrolytic, £122. Lead.—£27 ' 155., £26. Spelter.-£J6, £52. Tin.-£165-7s. 6d.„. £166 17s. 6d. Silver—Bar. 30Jd. per ouuee standard.

MINING NEWS

WELIJXGTOX-SHARE JtASKET. There were no transactions in the mining market yesterday, and the quotations were as follow :— Burcrs. Sellers. £s.d. £s.d. Hurray Creek 210 0, 3 0 0 Talisman : — 0 11 0 Waihi' 1 17 ,0 - STOCK EXCHANGE. - By Telegraph—Press Association. Auckland, July 25. Sales-Union Steam (ord.), 10s.; N.Z. Portland Cement, 13s. 6d. Duncdin, July 25. Sales—Waihi, 375.; 'Union Steams, 40s. (two parcels), 40s. 6d. (two {parcels), 40s. 3d. (two parcels), 41s. (five parcels). Bale reported—Standard Insurance, 38s. LONDON QUOTATIONS. By Telegram-T-Press Association—Copyright London, July 24. Shares— Wailii. buyers 375. 3d.; sellers, 38s. 3d. THE HAUIIAICI BEEFS, LTD. . The mine manager .of the Hauraki Reefs, Ltd., reports under date July 21:—Stoping has been in hand over the No. 3 level, and all the quartz broken'was' saved lor treatment.- In the No. 3 face the reef is yet not well denned about the break just passing through. In the Wynyardton come good crushing dirt and also a littlo picked stone was obtained from the east face workings. In these workings, on the intermediate level, driving east and west is in hand, and the prospects are encour. lining. Crushing is proceeding at the battery. We note vvitk interest that all the best prizes for cheese at the Palmerston Show and the best prices in the London market were obtained by those makers who use Victor Vats. These famous vats embody a new principle of middle drainage —worth while investigating. A. J. Parton, Dairyman, Carterton.—Advt

National Bank 5 4 6 - Bank N.Z. (£3 6a. Sd.) ..;„■ 10 15 0 - Napier Gas (£10) 15 10 0 - S.. British Insurance 4 18 6 — . • Gear Meat i£l) •■ )>• , - . lord.) ... 1 3 9 ISO Union Steam (ord.) 2 0 0 2 0 6 Union Steam (prcf.) 110 1 1 3 Kaiapoi Woollen (ord.) ... 5 18 0 6 2 0 Well. Woollen (ord.) 6 0 0 - Well. Woollen (pref.) 3 15 0 — Hikm-anjri Coal 0 7 6 - Westport Ocol 18 9 K.'i. Consol. Dontal 1 I o — Banks and Co — 16 0 Sharland (ord.) 15 6 — Sharland (prcf.) 1 5. 6 — *Ex div.