COMMERCIAL

Dominion, Volume 2, Issue 337, 26 October 1908, Page 10

COMMERCIAL

. THE SHARE MARKET. At Saturday's meeting, of ■ the Wellington , sliarebrokers, sales were,reported of.Wellington Gas, .£lO pald.'at i!ls 12s. Gd., and Christchurch Meat at ill 19s. Dank of Now Zealand shares were on sale at ■ J!8 7s. Gd., and .National Banks at Is. Equitable Building, sellers '.£lO 2s; 6d.; Wellington Trust 'and Loan, sellers £! 75.-j Wellington Deposit, sellers 95.; National Mortgage, buyers J3, sellers Is.; New Zealand and River Plate, buyers "JCI 10s. 9d., sellers lis., Gd.; National Insurance; buyers .£1 7s. 9d., sellers £1 8s; Gd.; .New Zealand* Insurance, sellers iE3 125., 6d,; Christchurch Gas, sellers dC9 lGs.; Napier Gas, £5' paid, sellers i! 15; Wellington Gas, £10 paid, bnyers Xl 5 12s. Gd.; new issue, sellers 10s. premium; Christchurch Meat, buyers i£9,l7si Gd.; Gear; Meat, buyers £2'9s. Wellington Meat Export, £5 paid; sellers i! 6 7s. 6d., iC-l paid, sellers £5, £2 12s.' Gd. paid, buyers .£3 ;■ Union Steam, buyers-Jil 14si 9d.; Manawatu Rails, buyors £2- 12s. Gd.;-Westport Coal, buyers'i!G lis., .-sellers ,CG 155.; Westport-Stock-ton Coal, buyers 10s., sellers 10s. 6d.; Kauri Timber, los. paid, sellers 13s. Gd.; New Zealand Drugs,, sellers £2 lis.-; Now Zealand Portland Cement, buyers ,£1 75,. 6d.; sellers -CI Bs. 6d.; Taranaki Petroleum/ buyers Gs.,. sellers. Bs. Gd. ~ U . ; THE MINING MARKET.. . A sale of Talismans' at :18s. 3d. was all the business reported on' Saturday. The quotations were as under:— , ■Buyers. Sellers.- Sales.- £ s. d. £ s. d. Talisman ..i ... 1 18 0 1 18 6 1 18 3 Waihi ... ... — 8..16.. 0 .. — . _ Waihi Grand JVt'n. — ' 1 13 9 - t- 4 - N.Z. Crown ... ... — 0 4 1, *- Big River ... ... 1 13 6 . 1 17 0 — ' THE WOOL TRADE. . A West Riding correspondent in the * rEcono«ist," on September 5, gave his opinion about che wool ;iriarket,' and .the Australian season then approaching. Here is a short extract:— "Nobody need be surprised if later on a bold and concerted attempt is made to sell .' prices down in order to get cheaper wool. A far different spirit animates the, contingent of Australian wool-buyers than a year ago. • The banks have kept up many a'firni that would otherwise have had to go to the wall, and not • a few are to-day at the complete mercy of these financial houses. Plenty of firms are unable to command the credit that they had last season, and they will have to go considerably slower;this. year. -Another, mistake like the last would be very serious fdr even big wealthy'; firms; herice the anxiety .to, buy wool on a, j'safe' basis. AH importers alike say that a basis of 22Jd. to 23d. for super 60's tops would leave too much room for another grave .mistake, but that around .20d. a • big' business would be done., There is always safety in filling-one's warehouse with cheap wool, arid . buyers have gone out to Australia determined not to commit the error of last season. Many hope to see the price of tops still come down2d. to 3d. per lb., in order to allow them to operate on a corresponding basis in Sydney and elsewhere, and no matter what may be the condition,of European markets, if wool comes ' down to-the level'l have spoken about in the top there'will .be.plenty of buying of the raw material. • Good ; combing wool is wanted at 'a' price, but . what the market . value is goirig to be is still a puzzle. ;I have already intimated the figures at which importers want to work, but I hardly think they will operate on such a low level this side of November, unless a very strong-'bear' move takes place both on : the Continent and in Bradford/ for the direct purpose of-foroing values down. - Nobody-need be. , surprised'if an' onslaught is made as the open--ing of the season approaches. There are plentyi of factors favouring 1 -such'a move,'and very few indeed of a ' bull' nature : to encourage; a; rise." BRITISH JOINT STOCK COMPANIES. . Some interesting statistics have been coin-' piled by -the .''lnvestors' Guardian" relative to the, subject /of new coriipany registrations in Great Britain during the- first six months of the current year. There appears to have been a falling off from the figures of the preceding year, but with that exception the.num-. ber of registrations in the period mentioned,is larger than in any . of the previous ten years. The chief feature of the term under review-is ' the great reduction in the capital of. new com-, panies. Against a drop of 6 per cent, in the number of registrations, .the capital, on which . duty has been- paid is 32 per cent.'lower-than . in the'-first- 1907—an altogeth'er'-'f'emark-" able record. The half-year Was, in its later stages,-marked by- falling trade returns, .but, on the" other hand,-by cheapening^-rates for money. If. a slackening trade tends to check the conversion of .businesses and the formation of new companies from- established enters prises, cheap money is an.element essentially conducing to. speculative .ventures. . Iri', the early part, of the year,-of. course, the financial conditions were ari.absolute bar, to'speculation which-.. involved the . formation of new companies, but as that ; opposing influence had. existed more or less for several, years, the crisis of last winter probably did not have-any special effect. ,0;ho ' greatest factor, .affecting, the general body of registrations during- the half year appears to have-been the reaction from the culmination'of a' period-'of active trade. The mining 'group shows the greatest contraction, the capital registrations being little more than one-half of those in .1907 for"the ''same' -period. The road traction section has quite lost the important position it-assumed two years ago under the impetus of .' the boom in motor cab and bus promotions. The groups which show , tho greatest activity are drapery . and clothing, whilst the brewery section is remarkable for its insignficarice, due .rnainly to the influence of the proposed Licensing Bill. The recognition by the new Company's Act of the private company may prove influential in popularising joint stock - trading. To this Act, at "any rate, it attributed the fact that in the two months to August 31 last 538 out of 6G5 registrations were private companies. 1 Last week the Customs revenue and beer duty collected . at Wellington amounted to , .£10,336:25. . 2d., and .£293 Gs. respectively,' and. the corresponding figures for last year were . —(revenue) <£13313 17s. ■ Gd. . and ' (beer duty) £U0 12s. Tho Customs revenue collected on Saturday amounted to £1960.195. Bd. N WELLINGTON ■ MARKET REPORT., i.' The New Zealand Farmers' Co-operative Distributing Company, Ltd., report as follows:— Maize,'. As., lOd.; - wheat, whole fowl, ss. 2d.; broken: wheat, 4s. 3d.; .barley, j feed, 4s. 3d.;, barley, Cape seed,-4s. Gd.; maize, crushed, 55.; oats, 3s. to 3s. 2d.; oats, duns, -2s. 9d.; . oats, discoloured, 25.,Gd.-; oats, crushed, 3s. id.; oats, seed, duns, sparrowbills, gartoiis, '3s. 3d.; jUgerians,;4s. 4d. per bushel; ryegrass, perennial,ss; Gd.-per bushel; hay, £o 10s. per ton; straw, £3 ss.' to. £3 10s. .per ton;, pollard, £7 10s.; bran, • - ( j0 per ton; barley meal, £6:10s. per ton; - sucrosine, £1 per ton,-.linseed oil cake-(genuine), 15s. per cwt.; prime oaten sheaf chaff, £i 15s. " to i! 5 ss. per toni.p'otatbes, tabic, £5 to £5 10s. per ton; seed potatoes, specially selected .Canterbury- up-to-dates, £6 10s.; Canterbury Eerwents, : ; £5; onions, Melbourne, £16;. butter, separator ls., milled lljd., dairy 'pats. lid. to Is. per lb.; eggs, fresh, Is.' Id. per dozen; honey, GO's, sd. ; bacon, sides 82d., rolls 9£d., liams 9d. per lb.; 70's to 90's, Gd'; 90's to 100's, Sid.; baconers, 5d.; . choppers (heavy), 3\d. to 4d. per 1b,.; Iweswax, Is. Gd.; fungus, 4Jd. ; walnuts, 4id. to sd. per • lb.;. cabbage, 55.; cauliflowers,. 13s. per sack; asparagus, Gd. per lb.; vgreen peas, lOd. to Is. per peck;. rhubarb, 3s. per dozen; carrots, table, 2s. Gd.; carrots, horse, 2s. per sack; apples, Tasmaniah dessert, 135.; apples, cookers, Tasmauian, 12s. Poultry— t Table roosters; 4s. Gd. to 55.; cockerels, ss. toGs.; table hens,_4s. 6d. to ss. Gd.; ducks, 7s. Gd. to Bs.; geese,,7s. Gd—all at per pair; turkey gob- - biers, lid. to Is.; hens, 10d., live or dead weight.., SHEEPSKIN SALES. " The New' Zealand Loan Mercantile Agency Company advise having received tho following cablegram from their London house, under date Ootober 23:—"Sheepskins: Crossbred, medium, and coarse, id. dearer! Sales progress firmly.". ' Messrs.. Murray, Roberts, and-Company have received the following market cablegram from their London agents, Messrs.' Sanderson, Murray, and Co., dated October 22, 1908.—I'ull- , wo'olted merino' sheepskins have declined -Jd. ' per lb. Half-woolled and shorter merino skins have 'declined id. to {d. per lb. Coarse,, fullwoollcd crossbrcds show no material, change, fine full-woolled crossbrcds have declined Jd., and half-woolled and shorter crossbreds have declined Jd. to id. LIVE STOCK AND PRODUCE; Messrs. Dalgoty, report that at, their Feilding sale on Friday they nad a small entry of sheep and a good entry of cattle. Medium mixed hoggets made 10.; yearling steers, small, 335.' 6d.; 18-months ditto.; 41s. 6d.;'2-year steers, £3 55.; empty heifers, 375. to £2 10s.; forward empty heifers, £3 2s.'Cd. Messrs. Dalgety and Co., Ltd. report as follows on their fortnightly ■ sale at Eketahuna yesterday:—We had a big yarding, but bidding was slack under the hammer. However, wa juade a good- clearance before the day. ended.

.Cattle.sold;well. Wo quote:—Wethers, to 13s. Gd.; .'ewes and 1 lambs, to 175.; hoggets (ewes), 12s. ;'empty ewes,', 10s. Cattle: Mixed yparliiigs, to 385.; 2-year steers, to £2 17s, Gd.; dairy cows, JI4 155.; syringing cows, i.'3 10s.; bulls/ £b.: ■ Messrs. A. H. Atkinson and Co., Ltd., port:—On Friday wci held our weekly sale. Owiiig to.the rough weather only a small entry of pigs and poultry camo to hand. Buyers ,for pigs were and the entries wore cleared' at-exceptionally high prices, A nice line of. seven weeks' old weaners made £1- 2s. Gd. each. A good entry of •' produce sold at late rates. Quotations:—Horse, aged gelding,' £2 Is. Pigs—\Veaners> lis. 3d., 12s. 3d., 205., 225. 6d.; slipe and-small'stores, 20s. 3d., 215.. 6d., 30s. 6d. Poultry—Hens, 2s. 4(1.;- roasters, 2s. 6d.; ducks,. Is. ,sd;, 2s. Dd.;. turkeys, Bs., all at each. pig, 2s. fid,, 4s. por sack; eating,'7s.,'Bs'.'; 95., 155.; seed'do., Gs. sack. hides; skins, etc. ' Messrs. D&lgety -and Company, ltd., held -their-fortnightly sale of skins, liides, and tallow on Friday, when a large catalogue of all classes was submitted-to, a. good attendance of buyers. Competition, especially, for skins, was brisk throughout the; sale.'' - • ■ Wool—There was none offering,.,wool b?ingheld over for ; the'first wool sale on November 13. Sheepskins.—Market firm at last sale rates. The catalogue comprised some of quality considerably above - the average. Prices realised were as • follow:—Half bred, 6Jd. to 63d.; fine crossbred; 5Jd. to Gd.; crossbred, 4d. to 5Jd.; orossbred shorts,-3d. -to 3}d.; crossbred, dead, 31d. to Id.; crossbred, broken, 3d. to 3}d.; crosscred, seedy, 2Jd. to 3Jd.; hoggets, 43d.; pelts, 2Jd. to 3}d,; lambs, 1 inferior, 2jd. to 3Jd.; lambskins,'9d. to Is. Id.; crossbred, damp, 4s. 9d.i crossbred, salted, 2s. Gd. to 4s. 7d. Hides.—No prime lots offering. The market was firm at last sale rates. Calfskins in particular ' were in good demand; Ox, 531b. to 731b., s}d. to s|d. per lb.; 421b;, 4Jd.; cut, 3jd. to 3Jd. Cow, 371b." to 491b., djd.. to • 4Jd.; cut, 3d. .- Yearling, 151b., 4Jd.; steer, slippy, 2|d.; dry hides, 3Jd.; calf, best, Gd. to .GJd.; inferior and cut, 3|d. to 43d.'; hoofs, 2s. per cwt. Horns, 6s. per 100. Tallow.—Casks, in ebipping order, 235. 9d.; in tins, 21s. 9d. . Messrs. Murray, Roberts, and Co. report as follows on Friday's sale:—We submitted today, to a large attendance of buyers, a catalogue of 1800 sheepskins and 120 hides. Prices rilled exceedingly firm at an advance of. a farthing to halfpenny over last sale's rates, and competition was very animated, especially for;our best lines of skins. Hides were also in. better 1 request for -medium and .light weights, and priccs fully equal to last sale. All wool lots are now held for our first sale. Wo quote:— Sheepskins.—Fine crossbreds, 6d. to 6Jd. per lbi;. medium crossbreds, s}d. to 6d. per lb.; coarse- crossbreds, 4Jd. to sd. per lb.; lambs, 60und pelted, 4sd. to GJd. per lb.; lambs, damaged and fallen, 31d. to 4Jd. per lb.; crossbreds, inferior pelted, 3Jd. to 4Jd.: per lb.; butcher's, green and damp, 3s. Gd. to 4s. lOd. each; dead and hoggets, 3Jd. to 4}d. per lb. Hides.—Ox, heavy, none offering; ox, medium, 4?d. to 5Jd. per lb.; ox, light, 4jd. to 4Jd. per lb.; cow, medium and light, 4d. to 41d. per lb.; damaged,- cut, and slippy hides, 3d. to 3Jd. por lb.; calf, sound light; sjd. to GJd. per lb.; calf, sound heavy*'4d.-to por lb.; calf, damaged and .cut; 3}d.,to. 41d. I per lb. . Tallow.—ln casks, 235. to 245. per cwt.; in tins,. 18s. Gd. to 20s. per cwt. The New. Zealand Loan and Mercantile' Agency Company, ltd., report as follows:— Our usual, fortnightly sale was .held on Friday, when we submitted a good catalogue of skins and hides', and a small quantity of tallow, also a few, bags of wool.; All bale lots of wool are being held for the first wool sale of the: season to take place on November 13. London sheepskin'salos opened yesterday, and advices received by us' indicate, a rise; of Jd. per lb. in-medium arid coarse: crossbred,which was fully refle'cted'in our sale-to-day. ■ Hides and calfskins were in good demand at late .rates; We quote:— Sheepskins—Half, and fine .crossbred, sjd.. to' 6id..per lb.; medium and coarse crossbred, 4}d. to 5Jd. ;.dead and damaged skins, Id. to 4jd.; polts, 2Jd. to 4}d.; green skins, 4s. to ss. sd. each; green lambs, to lid. each. Hides—Ox, medium, 45d. to 4Jd. per lb.; ox, •light, ;3d:"to.:'4d.; cow,' B|d. to-43d.; damaged hides, ljd. t0.4d.; calfskins, sound, 6fd. to 7d.; calfskins, damaged,. Jd. to. IJd. Tallow.—Shipping parcels of medium. mixed, 235. t0.245. per cwt.; odd packages, 21s. Id. to 225. 6d. per owt. Messrs. Levin and Co., Ltd., report as follows . regarding • Friday's sale:—We held our fortnightly sale to-day. No wool was offered, all now coming to hand being held for the', opening sale of . the new season on November 15.- We offered 2200 skins, 650 hides, GOO calfskins, ,and a quantity of ('allow and horsehair;,. ■Wool.—We quote: Medium. crossbred, 31 d. to 41d.-; inferior, 2d., to 3}d.; lambs' wool, 4d. to 4id.; pieces and locks, Id. to 3d.; good crutchings, 3d. to B}d.; medium crutehings, 2}d, to 3d.; seedy and inferior, ljd. to 2Jd. - • Skins.—There was strong competition, and prices advanced a halfpenny jer lb, on all, good lots.. We quote: Fine crossbreds,-sd. to 6|d.; crossbred, 4d. to 5Jd.; dead skins, 2d. to 4d.; . dead, hoggets, 2d. to 3W.; dry pelts, Id. to 3}d.; green-skins, 2s'.'Gd...to .ss.; ; lambskins, lOd. each.Tallow.—Firm. , Parcels in shipping order, .£23; tins, £18 to £21 10s.; rough fat, JtlO to £13. ' : ' :r : Horsehair, Is. to Is. 3d.' _per lb. Horns, ss.' to, 17s. Gd. per hundred. Cowtails, Is. 4d. to Is. Bd. per. dozen. . ZZ Hides.—Wo again brought forward a largo catalogue of. hides. The market was steady, and all offerings, were emitted at:full current rates. Wo quote:- Ox-hides, heavy, 5Jd. to sjd.-, ox hides, medium, s}d. to 5Jd.; ox hides, -light; 4d. to'4jd.i; cow hides, 4d. to 41d.; cut and slippy .hides, 2d. to 3|d.; stag hides, 2jd. to 3|d.; bull hides, 2d. to 3Jd.; calf, best, Gd. to 7|d.; calf, cut and slippy, 2d. to 4Jd. •| " — Messrs. Abraham, apd Williams, Ltd., report 'on their'sale Held-,c'n Friday as follows:—We offered a good catalogue to a large attendance of, buyers. Bidding for everything offered was brisk, especially for' skins, which showed an . advance : on last'sale's rates. Hides were on a par with recent values, whilst tallow improved slightly. We .quote's— \ Wool.—Ordinary -.crutchings, 2d. to 2Jd. ; dead, 3}d. to;4d.;- pieces; Id. to 2d. , Skins.-rCrossbreds, coarse, to medium, s}d. to BJd.; crossbreds, fine;' 53d. to 6Jd.; halfbreds, 6d. to- 6}d.;, crossbreds, shorts and 1 inferior, 3d.; to 4Sd.; dead, 3id. to 4id. ;j shorn lambs, 4Jd,; lambs' pelts;. 3d.'; half-dry crossbreds, 4s. I'd. to 4s. lOd; ". : " Hides.—Ox, heavy;-5Jd. to GJd.; medium ox, sJd;' to sjd.; cows, medium, heavy, 4j?d.; light to medium, 4Jd. to 4Jd.; dry hides, 2d. to 41d.; damaged cows, 21d. to 3Jd.; calves, GjSd. to 7d:; damaged, 2d. to 4Jd. Tallow.—lll shipping order, 245.; tins, 21s. 3d.; rough fat, good,-19s.;,inferior, 12s. 3d.