COMMERCIAL.

Dominion, Volume 2, Issue 473, 3 April 1909, Page 8

COMMERCIAL.

THE SHAEE MARKET. Sales of Wellington Gas (*6lO paid) at *f'l7 109., and new issue.at. £1 preimum, Westport Coal at £B 55., and Leyland-0 Brica rimbei'at,£l 2s. 6d. were reported yesterday. Bank ot wow Zealand, buyers : lis., sellers £8 145.; National Bants, sellers .£5 55.; Eqiutablo Buildin„, buyers <£D 55.; Wellington Investment, buyers lis.; Wellington Trust and Loan, buyers £(,; "Wellington Deposit,- sellers 95.; Auckland bas, buyers £11 2s. fid.;' Christchuroh Gas. buyers £9, sellers .£9 10s.; '.Mding Gas, buyers .£l, Palmerston North Gas, buyers .£7 is.; Wellington Gas (.610 paid), buyers, il7 lis.; new issue £1 premium ; iNatioual Insurance, buyers Al ds. 6d.; Gear Meat (.£1 paid), buyers .£10; il paid, buyers .£2 lis.; Meat Export (.£5 paid), sellers £f> 7s. 6d.; £2 12s. 6d. paid, sellers £i Is. 6d.; N.Z. Shipping, sellers £! Is.; Wellington Woo - len, sellers Is.; Westport Stockton Ccal, sellers Bs. 9d.: N.Z. Pcitland Cement, bikers <£1 15s. 6d.; new issue, .buyers .£1 95.; Taranaki Petroleum, sellers 7s.* 9d.

THE MINING MARKET.

There are indications of a revival m mimji?, and the development. works in several ot the northern claims show promising features. J. he "Waihi Grand Junction has experienced a sharp advance, and a sale was made, on Change yesterday at XI 9s. Waitangis have come in for a great deal of attention, and are, at the moment, the favourite speculative stock. Sales jf Waitangi at 3s. fed., 3s. 81d., and 3s. 9d., and -Waihi at ,£9 2s. td. were reported, ana a sale of Talismans at £2 65. 3d. was made on Change. The quotations were as under s— ' Buyers.' Sellers. Sales. ',£s. d. £s. d. £s. d. "jsiii...®*~;»• ••• j»» Waihi . ... 92 0 - » 2_3 Waiotahi ... . ... 0 2 0 Tairua .Broken Hillq ■ 0 10 — ~ Waitangi ••• 0 3 9 0 4.0 0 3 0 Talisman Lt .... 263, 26 4J 268 Big Eiver ... ... 23 6 — BOVRIL,. LIMITED. In consequence of the continued increase in the urice 'of raw material ■ the earnings of Bovril Limited show a falling off in respect „ to the past ;year, though sales have still lurther expanded. 1 The annual report states that the trading jrofit is .£283,600, as compared with £2%,400, 1 whilst the net profit comes out at ",£120,300, as against £120,000, a saving in administration expenses contributing , to tiie favourable exhibit of tho latter. It is hoped that the recent formation of tho new Companies in Argentina and Australia will tor a series of years at all events obviate any further riso in the cost of raw material.

MANCHESTER SHIP CANAL. ss . Changes in trade channels and -industrial do- gu pression somewhat affected the business the 'o Manchester ship canal during the la.ter half 1 of 1908. The amount of traffic handed was 2k 2 313,300 tons, as against 2,807,000 tons in the 6u. rnrresDonding period of 1907. The gross re- Is. SamoSftetfto .£401,500, as against ,£439,400 pi| ' ana the net revenue to ,£149,600, as compared f with £161,700. The available balance at net . revenue account is .£ 151,G00, as against ,£159,300, Ag and net revenue charges amount to. as A j compared with -i£144;900, ;4 the increase being due mi to the interest on the i per cent, perpetual wi debenture stock issued,last year. In Tespect to an •the whole of 1908 the traffic carried declined mi from 5,211,000 to 4,583,000 tons, and the gross Bs. receipts from. .£835,400 to J!776,400. j® ' LLOYD'S AND THE BUDGET. , When the last' English mail left London inquiries; were being made at Lloyd's for policies to cover loss arising from a supor tax on incomes, and other schemes of increasing the or ■Imperial, revenue from this source. A. small 10 "amount of business was placed against altera- <V tion or increase of tho duty in tea and sugar. J" <Che v premium quoted against an increase in the tn sugar duty did nol exceed 10 guineas per cent. ™ A more popular form of policy was one covering against a loss in .the event of any change, either by'way of.an'increase or reduction. JFifteen guineas per' cent, was being paid for » insuring'tea on these conditions. These being "honour" policies, are issued under the P.P.I. 01 (policy proof of interest), clause, and undoubtedly come under the category of speculative in- , •surances. ® THE-SPRINKLER. if Some interesting figures relating to the extinguishing .6(1 fires sprinklers 3s have.been made.publiq,(recently. Uj to 1905 6s there were about 2200 sprinkler installations f, protecting various classes of property in Great ir Britain, and in 810"outbreaks of fire which, m occurred in premises thus protected the flames Ji are reported to have been extinguished by the i operation of'sprinklers in 737'.cases, or 91 per S cent, of the total number.'v In 54 cases, or G. 7 y; per cent, of the total, the fire was reportedi'as h partially extinguished by the sprinklers, while 6< ; the sprinklers are said to have failed—in some 3f instances at least through deficiency of water 2; 6upply—in 19 cases only, or 2.3 per cent, of the 11 whole. In America, during eleven years from l' 1897 to 1907, 5313 outbreaks of fire are recorded ci as having occurred in fitted .with 1< those appliances. The fire was extinguished by 1 sprinklers in ; 3563 cases, or 67 per cent.-of the i: total number, while the flames wero effectually i held in check in 1419 cases, or 26.7 per cent.' y of the total, the number of failures being re- d icorded as 313, or 6.23 per. cent. of.the total. .It is stated that 120,000 fires have been oxtin- 1 guished by automatic sprinklers fitted by one 1: - firm of engineers, the average less through fire s and water being approximately i£6o. f THE AMERICAN. TARIFF. I Those who have given evidence before the 5 ~ Tariff Commission of the. United States .hold , some queer views. They are-ready to sacrifice. ; the other fellow, but insist upon protection for themselves..: It has been stated before the . , Tariff Revision Committee at Washington that tho valuo of the Ajnerican lace curtain output inow exceeds ten million dollars per annum , .-Undoubtedly the business has developed, chiefly , ■in Pennsylvania, which is the; headquarters in America of the manufacture of all- fiirnishing -| ■Jabrics. It is noteworthy that-the American ] lace cmtain manufacturers aro opposed to any further increase of- duty on fine cotton j-arns. Their reason is that American-spun yarns have i mot proved..uniform in quality, are not always [properly sized and finished and vary in' tliick- / aess, sometimes "clogging very seriously" in working. Tho maintenance of a high tariff on lace curtains is, however, defended on the curious ground 4 that it is a great convenience to buyers to obtain patterns and quantities at home instead, of sending to England. It will lie observed that-the "advantages" of securing fine yarns at home are discreetly kept in the background by tho; lace curtain witnesses,-but in any case we fail to see why such an advantage should be put forward in support of a claim for protection. Surely the greater the advantage enjoyed 4 by the homo industry the less excuse there can be for artificially obstructing imports. Perhaps we shall have next a proposal for a Customs duty on new milk becauso of the obvious advantages of dealing with tho local dairyman. The Customs revenue collected at Wellington yesterday amounted to J01975 9s. Id. WELLINGTON MARKET REPORT. The weekly market report of the New Zealand Farmers' Co.-op. Distributing Co., Ltd., is \as . follows:—Maize, ss. -3d. per bushel; wheat, whole f0w1,,45. 6d. to .Is. 9d. per bushel; barley, Cape seed, 3s. 9d. per bushel; barley, feed, 3s. 3d. per bushel; oats, 2s. 2d. to 2s. 3d. pen bushel; oats, seed sparrowbills, gartons, duns, Algerians, 2s. Gd. per bushel; oats, crushed, 2s. Sd. per bushel; hay, prime, i 3 10s. per ton; straw, £2 10s. per ton; bran,- .£4 15s. to .£5 per ton; pollard, £7 ss. to £7 10s. per ton; Bucrosine, 200's £7, 100's £7 ss. per ton; linseed oil cake, genuine, 14s. per cwt.; primo oaten sheaf, i! 3 ss. to .£3 10s. per ton; potatops, <£4 10s. per, ton; onions, .£5,105. per ton; butter, separator pats 91d„ .dairy pats Bd. to BJd. per Iz-; eggs,• fresh Is. 7d. per dozen, preserved Is. 4d. per dozen, good domand; honey, 60's 5d., 148's s;id. • per'•lb.; beeswax, Is. Gd.'per lb.[ good demand; fungus, 43d. per lb.; walnuts', sd. per lb.; bacon, factory sides 8d„ rolls 9d., 4 hams BJtl. par lb.; porkers, . 70's to 90's 4id., 90's to ]00's 4d.; baconers, 3i|d.; heavy pigs, 3d. per lb.; cabbage, Is. to is. 9d. per sack; parsnips, per sack; carrots, table, ,2s. to 3s. per sack; marrows, 2s. per sack; cauliflower, 3s. per sack; pumpkins, 4s. Gd. to ss. per sack; swedes, is. per cwt.; green peas, Bd. to lOd. per peck; .rhubarb,' 2s. Gd. per dozen; peaches, ,25. ; to 3s. ,6d. per half-case; plums, 3s. to 3s. fid. per'half-case; apples, dessert, ss. to,7s. per case; anples. cookers, 4s. fid. to ss. per case; tomatoes," 2s. to 3s. per half-case; quinces, 2s. per ense;.pears, dessert, ~ 6s. fid. per case; pears, cookers, 4s. to 4s. 6d! per case. Poultry—Tablo roosters, 2s. Gd. to Ss.; cockerels, 3s. Gd. to 45.; tablo hens, 2s. 6d. to 35.; ducks, 'is. to ss. Cd.> all at per pair, ' Laerj'*' and Co., Ltd., Wellington,, report wholesale prices ruling on the market:—Wheat, fowl 4s. 6d. to 45., 9d.; oats, 2s. Id. to 2s. 6d., dun oats. 2s. Id. to 2s. 3d., seed oats 2s. 4d. to 2s. Sd., Algerian seed oats 2s.'fid.; maize, ss. 2d. to ss. 4d.; crushed malt, Bs. 3d."; fowl barley, 35.; horse beans, 45,. Sd., all at per bushel; ricemeal,. ,£5 to «C 5 55.;. flour, N.Z. <£11 10s., Australian £11 10s.; bran, .£■! 10s. to ,£4 155.: pearl barley, JCI7; peas, partridge 4s. 9d., Prussian bluo. 65., fowl peas 4s. 3d., split M 7 10s.;

bonedust, «£G; superphosphates, .£5 to £5 55.; guano, £i 10s.; chalf (oateiisheaf), .£3 10s. to ,£4; oatmeal, .£lO 10s. to .£lO 155.; potatoes, i£3 to ,£4; onions, .EG; molasses fodder, .£5; bacon (factory), sides 7Jd., sides 7Jd., rolls Bd.; butter, bulk, Bd. Poultry: Hens 35., ducks •Is. to 55.; turkeys, gobblers lis. to 125., lieus 9s. to 10s.; fresh eggs, Is. 7d. to Is. Bd. per dozen; cheeso, Gd. to GJd. per lb - ., loaf 7d. per lb.; Akaroa machine-dressed cocksfoot B!d., farmers' dressed sd. to Gd. per lb.; ryegrass, 3s. 3d. to 4s. Gd. per bushel; Italian ryegrass, 3s. Gd. to 4s. per bushel.; white clover, 70s. to 755. cwt.; red clover, Gss. cwt.;' cow grass, 655. cwt.; ■ike, 82s. 6d. cwt.; mustard, 40s. cwt.; trefoil, 375. 6d. owt.; rape seed, 2Us. cwt.; timothy, 325. Gd. owt.; swedo and turnip, seed, 60s. cwt.

Messrs. Griffiths and Co., Ltd., roport yesterday's fruit and produco prices as follow:—Potatoes, .£3 155., .04; onions, 4s. to 55.; cabbages, 25., 2s. Gd.; cauliflowers, 45.; peas, 45., 55.; beans, 25., 2s. 6d.; tomatoes, 2s. Gd. to Ss. 9d.j lettuce, Is. to 2s. Gd.; plums, 2s. to 2s. 9d ; peaches, choice eating 2s. Gu. to 3s. Gd. half case, cooking 2s* to 2s. 9s. half caso; apples, choice eating 7s. to Bs. td., primo Gs. to 75., cooking 4s. to ss. Gd.; pears, choice eating 7s to Bs., prime ss. 6d. to Gs. 6d.; cooking 4s. to ss. Gd.; eggs, fresh Is. 7d.; fowls, 35.; ducks, 45., 55.; pumpkins, 4s, to ss. sack; marrows, Is. 6d. 10 25.; celery,. 9d. to Is. dozen. An extra large volume of business was done yesterday; in the afternoon South Australiangrapes were sold, and competition was very good. All lines were in better demand than usual. LIVE STOCK SALES. Dalgety and Co., Ltd., report on their Levin sale, 'held yesterday, as follows:—Owing to the rough weather on previous days sheep did not come forward to advertised number. However, wo had a good yarding of both sheep and cattle, and have to report a good sale, all lines, with very few exceptions, selling under tho hammer.. Practically a 'total clearance was subsequently effected.—Rates:—Poorconditioned aged ewes',' ss. 3d. to ss. 7d.; better sorts, to 9s. 4d.; stora wethers, 9s. 7d.; forward wethers, 10s. to lis.; fat wethers, lis. 7d. to lis. Bd.; fat ewes, 10s. Bd.;'store lambs, 55.; forward lambs! Bs. 7d.; rams, Ito 2 guineas; bullocks, £5 to £5 Is.; 3-year steers, <£3 125.; cows in calf, £3 13s. to £i; springing heifers, to £i 55.; forward cows, 35., .£3 55., to .£3 10s.; fat cows, to XI 55.; fat heifers, to -21 55.; heifers in calf, .£1 15s. to £2 3s. : 15-month heifers, £1 10s.; young bulls, .£1 to iBl 125.; weaners,. 10s.; aged cows, .£2; poorer sorts, 205.; 15-month steers, 30s.

Reporting on their fortnightly Dannevirke stock salo, held yesterday, Messrs. Dalgety and Co. state:—A fair yarding of. sheep and cattlo were submitted to a good attendance of buyers. Prices were easier 'than at last sale, but wo effected a complete clearance. We quote:—Twotooth ewes, 9s. 2d.; fat ewes, Bs. 3d.; fat and forward ewes, 7s. 6d.; mixed aged breeding ewes, 4s. 6d. to ss. 3d.; small woolly lambs, ss. 3d.; English Leicester 2-tooth rams, 3 guineas; 2, 4, and 6-tooth Lincoln rams, 1J 11, to 3 guineas; Lincoln rams, 4 and 6-tooth, 1J to li guineas; forward 31-year bullocks, • .£5 55.; 2| to 3-year'steers, JE4; 2i-year steers, J!3 7s. 6d.; fat cows, .£3 17s. Gd.; cows and calves, £2 Is.; 2-year steers and heifers, £1 195.; .weaner pigs, 10s.

The New. Zealand Loan and Mercantile Agency Co.; Ltd., 'report for the week ending April 2as follow:—(At Apiti on Tuesday a medium entry of sheep and cattle oame forward. Bidding was not brisk, although a fair amount'of business was done under the hammer. Quotations: —Sheep: Two-tooth wethers, Bs. 6d.; ewe lambs, 7s. lOd. to Bs. Bd.; mixed lambs, ss. 9d. Cattle: Weaners, lis.' to 155.; twp-year steers, £2 Bs.' to £2 95.; 18-months steers, 355.; forward cows, £2 155., .£3, to £3 10s.; bulls, 225. Gd. to .£2.

Messrs. Abraham: and .Williams, Ltd., report on their Levin stock sale, held yesterday, as follows:—We had a good yarding of sheep, and a large yarding of cattle. Bidding was dull under the hammer, but wo managed to quit the bulk of both sheep and cattle at current rates. Quotations: —Good rap« lambs, 7s. Gd.; 2-tooth wethers, 6s. 6d. to 95.; , small 2-tooth oWes, ss. to 95.; aged eives, 45. ; ; 2-tooth Romney rams,-10s. Gd. to .£1 'Is.'; '2-year steers, £2 15s. to >£3 Is.; heifers ill calf, 365.; cows and calves, .£3 Gs.; fat cows, .£3 15s. to <£4 10s.; bulls, ~£2 10s. to .£3 155.; weaners, ss. to 7s. 6d.

Mr. Newton King's weekly auction report, c( dated April 1, is as follows:—Owing to tho j. rough weather this week there was only a £ small yarding at. my, Urenui sale on Monday. ■ A line of 100 2to 21-year heifers in 4 calf made j.j £2 Bs.';-fatcows, '.£3 18&; 15-months' heifers, <61 k 3s. 6d.;. „ weaner/, steers, lf}?,,; li st/ore: cows, £1 ,j 65..; 2 to 6-tooth wethers, 8s» -Bd. ; 4, 6, and . ■f.m. ewes, Bs. At Rahotu on Tuesday' weaners n mad© 12s. to 145.; yearling steers, 305.; 18- „ months s'teers, 365.; 20-months to 2-year steers, t i «£2 145.; 2i to 3-year steers, £3 65.; store cows, 0 «£1 3s. 6d. to «£2; forward cow?, £2 10s. At f Stoiloy River on Wednesday there was a good Y yarding of. cattle, most lilies , being sold at the hammer at the'following prices':—Weaners, 14s. Sl 6d. to 15s. 6d.; l&-months 1 steers, 355. 6d. to 0 38s. 6d.; do.,' good, 45.; 15-months heifers, a 21s. Gd. to 275.; empty heifers, £2 Is. to .C 2 j. 10s.; forward heifers, £2 135.; fat heifers, £3 j. 175.;. store cows, Xl ss. to .£1 18s. 6d.; forward a cows, £2 ]25.; fat cows. £3 10s.; 3-year bul- ] locks, £3 195.; bulls, £1 Bs. At Waiwakaiho on s Thursday I held my supplementary sheep fair j in conjunction with my ordinary cattle sale. r About 3000' sheep were penned, and a fair t yarding of -cattle. '- Bidding" for sheep was j dragging, but-cattle sold at slightly improved r iprices.' I quote as .follow:—Weaners,-Bs. to 125.; i5-months -mixed, ,£1 Bs. Gd.; 15-months , heifers, .£1 55.; fat heifers, £3 lis. to £3 155.; store cows, 30s. -to 40s.;' forward do., £2.. 125.; fat cows, ,£3'l7s. to £1 55.; 18-months steers, ,£1 18s.; 3J>-year bullocks, fat and forward, £5 Is.; bulls, 2Gs. to, 315.; lambs, ss. Id. to ss. 4d.; cull lambs, 3s. 2d.; 2-tooth ewes, 12s. 6d.; 4, 6, and f.m. do., lis. 10d.; old ewes, 4s. ss. to.Gs. 7d.; cull ewes, 2s. to 3s. 7d.; 4 and 6-tooth wethers, 10s. 3d.; rams, J guineas. i LEVIN PIG SALE. . j Messrs. Hudson-and Marriott, Ltd., leport ( as follows:—We held our fortnightly <salo of i pigs ,at Levin yesterday, when we oifered 115 .] pigs of all classes. Several buyers were in at- 1 tendance, and prices ruled high, prime porkers ■ being eagerly competed for. We quote:—Heavy 1 porkers, 40s. Gd.; medium, 365. Gd.; light, 275. i to 325. Gd.; good stores, 235.:t0 245.; weaners, : 6s. 6d., 6s. 9d., Bs. 3d., Bs. 6d., 125., 135.; sows, : 14s. to 405.; choppers, 60s. 6d. All the porkers were secured for the Wellington market. WOOL, SKIN, AND HIDE SALES. Messrs. Abraham and Williams, Ltd., report having held their monthly wool, skin, and hide sale at Palmerston yesterday. Buyers were well represented, but bidding was\ quiet. In several lines of cow hides the owners were asking too much. Consequently, the lines were passed. The balance of the catalogue, was- sMd as follows:—Wool—Locks, 21d. to 3Jd.; crntchings, 3Jd. to 4Jd.; ; lamb's, sd. to 6^d.; dead, i 4d. to 5d.; fleece, sd. to. Gd. Skinsr- ■ Quarter to half' wools, 4Jd., to 4Jd.; crossbred . full wool, 5d.; dead, 2-Sd. to 4U1.; bare pelts, -, 23d. to 3jd.; damaged skins, 2kl. to 3}d.; half, . at- per piece, 2s. Bd. to 3s'. to 3s. 4d.; salted, 35.; salted lamb's, Is. Gd. Two skins, weighing 251b. each, sold at sd. per 11)., equal to 10s. Bd. i each. Hides—Ox, s|d.; cows, heavy, sld. to 5Jd.; medium, 4Jd. to sd.;'light, 4Sd. to 4Jd. j bulls, 4Jd.; stags. 4Jd.; best calf, Gjd. to 7Jd.; other, s*d. to 5Jd.; yearling, 4ld. to skl. Sun- ' dries—Tallow, tins, 19s. 3d. per cwt.; casks, ' 21s. 9d. per cwt.; cowtails, Is. per. dozen. 3 —i- ; > . ■ GRAIN AND PRODUCE. tBT TELEGRAPH —PRESS tSSOCt\TION.) j Christchurch, April 2. The local grain market has been very dull \ for some time past on account of sellers hav- '■ ing a very firm idea of values, and demanding 5 more than merchants are disposed to offer. ; However, since Tuesday /last business has been j a trifio brisker, and some fairly good parcels 1 of wheat and oats lmvq changed hands at cur--1 rent quotations. Included in these transactions was a line of 300 bushels of pearl wheat r which sold at 3s. Bd. Other sales of wheat i wero: 1000 sacks of tuscan, 3s. 71d.; 500 sacks of tuscan, 35.-7 d;'; 500 sacks tuscan, 3s. Gkl.; 1000 sacks hunters, 3s. G-id.; 1000 sacks hunters, ■' ,3s. 7d.; 1000 sacks hunters, 3s. 7Jd.; 100 sacks s nunters, 3s. 7d.; and 600 sacks hunters, 3s. Gd. s Tho. oats market is fairly dull, and thero is y not a great deal of business doing. Among T the sales reported are: 160 sacks gartons, Is. ; 2d.; 950 sacks of sparrowbills, Is. 3d.; and {. 1300 bushels dun, Is. 2d. Other classes of ; seeds and grains aro practically unaltered. The potato market is very dull, and /there is no alteration in priccs. The same applies ~ to onions. • , x s', BANK RATE REDUCED. ! , r (DT TELEGRAM—PBES3 ASSOCIATION. COPTRIOIIT.) / . London, April 1, '' The Bank of England rate of discount has ] been reduced from 3 per cent, to 2i per cent. . METAL MARKETS. rt - Copper—On spot, .£56 17s. Gd. t, Tin—On spot, d£l34 10s.; three-months, 12s. fid. ' ' to . Silver, 23Jd. d. 1 y. WHEAT. Two cargoes of Australian wheat sold at 40s. 6d. and 10s. 9d. respectively; 12,000 quarters, V April-May shipment, at 41s. 3d. The American . visible supply is 62,200,000 bushfila.