COMMERCIAL ITEMS.

Dominion, Volume 3, Issue 640, 18 October 1909, Page 10

COMMERCIAL ITEMS.

•;.,INVESTMENT SHARES; ■ . . '.•,'.' No sales'of BJisre'e 1 'took place on' Saturday, and prices were unchanged. National Bank, sellers'.£6.:la:; .Bank .of '(few Zealand; buyers £9,Bs.;\NAw Zealand'-andrßiver Plate, buyers . JEI Kβ. ■ 9d.i Wellington''' Investment, sellers Us. 6d.;- Wellington:. Trust; and Loan, 'sellers'£7 2s, 6d.; Fctlding Gas,.buyers £1 Is. 3d.; Wapior.jflas, £s'paid, buyers £12 ids'., sellers £12 J2s. 6d>yqhristol;urob Meat;»£2 paid; .sellers £2; Gear Meat,-£4 paid, buyers£lO sa.;,New Zealand Shipping, bnyers £6 .18s.; Wellington Woollen, buyers £3 Iβ. 6d.; Hikurangi -Coal,, buyers IGb. "6d., sellers ' 20e. i Taupiri Coal', sellQrs, 19s. 9d.; Westport Coa) n ßellers £5 55.; Westport-Stocliton iCbal, buyers 6». 6d., ■ sellers 75.: -Kauri Timber, 155.: paid,, buyers 15s. Bd.;- Leylafld-O'Brien'Tim-ber, buyers. 225.,'te11er5.235.; New Zealand-Con-, solidated Dental, sellers 245. 6d:; Bha'rlands, ordinary, sellers 235..9 d.', proforoncei buyers-.2ii3. 6d.; Taranaki Petroleum, , .l>uyers.7s. 9d., sellers 9s. : ; .v. • '. ■." '.. A. DBA'PEEt COMBINE- : ■According to tbo. "Financial Times" of. September 3, a scheme was in London to create, a combine of manufacturers and retailers In order,to establish ,, a central .distributing < house,. and render " unnecoEoary the wholesale houso, in ' its present form. The proiect,,,howler, ftrousedi onlj- passing interest, : and'it was recalled that aviclieme on similar 'Itnije was '.tTo'lte &:, in 1905, and ended lo', soiolic. ■Tho , scheme emanates from'the offlcea of' Emory, Morton, and Lyle.Vpf/Foster ,L»nc; Oneapsidc,' 'E.C., and - some of the main f eaturei are as follow:—Sir large. EnEliatt • m'auufacUrerß, six Iniluentlal retailors, " and. .two/ rcprweutivtiveu eoch-of Frajice and Gormouy, to act ae ;, a board of control. All eoods will' bo marked in plain fieurea, and sold at mill and factory prices- uo ;datine; no travellers; thus saving fully 15 to 20 percent, to-.the retailer. All'goode sold'on 30 days' credit: only, thereby curtailing -any loss by bad ■ debts.: . Every principal manufacturer (both at,home- and abroad) of> nil- classes and kinds goods now "sold by;tho modern' drapor :(oxcept furniture) be rcpioscntcd by stock on v a largo scale. .The scheme practicallyineana that the combine will be «. nuge commission house based on- ft cash principal, (sic). Tho mfiriafacturere to control-prices, and to-pay, the combine a small commission. ,oh' their returns for cost.ot distributing and incidental expenses. An option has been obtalrtcd upon favourable terras for the acmilsition of a nearly new building, equipped with.'overy modern improvement, having a total -frontage"' of over : 300 ft., ,with a .floor;. 6pwe ol .aboßil..;. three. acres,. situated. ,ln. ■ a:

main., thoroughfare in Contral-.London. ,Under good organisation, 6onnd management, and-fin-' aucial support, say the promoters,-, this bids fn,ir; arid'should' be the'foundation .tor,, tho; largeet distributing house of- its *kind'Cin tho world.' ■ Mr. Emery, who ib the author of the scheme, ■In an interview reported in tho -'Drapers'. Ke.cord." stated that it.was intended to register a.' limited liability company with a capital ■ of■■ £500,CC0, and, although a gentleman (understood to. be a member of Parliament), not now in the trade, was expected to put up a large sum 'of money—possibly' £100,0C(K-8ubscriptions for shares would-only bo received from manufac. .turers or rotailere engaged in the drapery trade. Tho promoter? had secured the option of taking a largo building in Tottonuam Court Eoad, or, alternatively, one would bo available in Falcon Street, K.O. The' building would bo equipped as a goods eicbange, in' Which manufacturers -might deposit: a stock of goods with the'ngency on competitive trading lines, selling drapery to rotail clients of the undertaking, .and. receive their . money, on much the same lines .as a.back paid its accounts'to' its customers. Tho manufacturers' so utilising the wnrehoose, which would, iajfnst, -be-.a. gigantic agency working on commission, might or might -.not by shareholders in the scheme,.although all : of.thcm would havo'the opportunity of taking .'an interest when tho company'was'-floated. The 'same.thing applied to , retailer's. There would .bo no desire or intention to "restrict tho use of tho agency in.selling or. acquiring goods to the houses taking a proprietary interest. Asked what- manufacturers would' gain by • dealing with the retail tn\de through this proposed distributing house, Mr. Emory replied that they would, nerthought, secure more trade, and a trade over which they, would have direct'control, while the retailers would bu able to buy goods more cheaply because of the reduction , in the expenses of the wholesale firms in the matter, of travellers. .?.. .

i ■■ i AUSTEALASIAN .WOOL EXPOETS. The , followinE Vtatement.gives thd exports'of ,wool from'Australasia'for the period-from July 1 to September 30, and has been ■ compiled by Daleety and Co., Ltd.:— --~.. i . 1909. 1908.' State. .'--,-■ Bales. . Bales'. ' :, N.Sr Wales'....::/:::.: ;...'... 90,138 ■>■■ 109,263 ' ;.-. Victoria ;.;...;....i.i .....i 16,913/ i 20,654 ; .-■'• Queensland ...: 52,781 , <i 6,412. ~ S. Australia'', ;.■:...'... ;;.■..;.*' -4.897"'"' 6,619 , -W. .-Australia.' .■...'...::.;.-..;..;.:. -7.375" -•,•-, 7,941 ■ ''. . ;. Australian'tour':....':'...'i72,Co2' ' , i 90,£6 9: - ..Now Zealand 29.C20..... 36.102 : ; ""'"■'"',"' ':'""■'. ■'■■' "•■ mm 2Z6.49i Tho net desreaso totals 25,965' bales, of .whirh Australia accounts for 10,887 bales, and Now Zca ; |;land.fqr;7Cß2 balss..,; ....... .■ ~ ..,■,• [;:■<■ ■.•.;■.. \;- ■>. ;' Onstdms revenuo colleoted .it Wellington' on Saturday amounted to £1013 3s. 7d. The total for the week was £7320 6a.- lid., beer. duty totalling £185,45.: .' vW■:,-.:-.:: ■;■;.;■;■: i y. : :'. [ . FEttDDfQ MARKET KEPOET. Messrs. A. H. Atkinson'arid do.',' Ltd.; of Fellding, report a larger entry of pigs at their, last sale ; than for some time past, over 130 • being penned. Every line sold made values on a par with late market rates. A keen demand exists for lines oE weaneM J|nd slips showing auality and '; brcediug. The poultry supply stills s alia far short of the demand, and double the quantity of birds penned could havo been readily disposed of,at prices which show a very good margin of profit to breeders. In produce lines potatoes are still somewhat of a drag in the market.: other lines show no quotable change. Quotations:—Horses—Strong trap mare, £17; aged, to £4 17s. 6d. Pigs-Wcaners, 125., 135., 13s. 6d. 13s. 9d., to 145.; slips;-. 155., 165.. to-18s.; stores,: 175.,' 205., 225, to 255..3dj; light porkers; 235. to E6s. 6d.; medium 'weight, to 28s. Poultry .(at .per headi— ■ Hens, Is. Bd.,' 15.,9 d., Is. lOd.. 2s. Id., to 2s; 3d.; small roosters, Is. Bd. to 25.; heavy birds, 2s. 7d. to 2s lM;,cockore!s, to-Is 9d. ;■ .turkey,' hens, 65., 6s. 6d., to 75.; gobblers, 9s. 3d., 9s.' id'., to 10s.; ducks, is. 2d. to 3a. Produce-Tablo' ■ potatoes, ss:.to l!s. 6d. per 6ack; seed do., 6s'. to Bs. 6d. per cwt.; onions, lid., per ,Ib.; carrots, 2s ( , 6d. per bnej wheat, ,, 17s. 5d.; oats, Ss.;'"bran, 4s. 9d.; pollard, 108. 6d.;,. factory - bacon, sides, v7id.; ham, - Sd. .

HIDE AND,-SKIN .SALES.. , ... I Messrs. Dalgety 'iahd 'Oo^^Ltdi,.'report' "having »r held their usual sale of wool, skins, hidce.etc., «] on Friday, when-they offered a good catalogue, n comprising 64 bales and'sacks of wool, 2200 sheep- t< skins, 40b large hides,. 1400 calfskins,' and,;tho usual lots of casks and tins of tallow; horse* \ hair,'etc. , Competition' was- very kben for/'all x lots offered, and they report, a : total clearancc at the following l prices:—Wool-^roßsbred," in, \ sacks,'Bd. to BJd.;. dead wool, 7id. to. Bd.; .in"' t ferWr do., 6id. : to .75d.; crutchings,' sd. to'sJd.; i inferior. 6rutchings, 4d. to <3d,;; piece 3, 3d. to 32d.; ] black'wool,' to '54d.; Sheepskiiic—Firte' :, 'croSßbrcd, t BJd. to 9d.;,> medium, Bd. to 8ld.; coarßc,,.7id. to > 7jd.; dead, 6d; to.'GJrd. Vlainlts 1 ;' from 7d. to Bd.; i dead hoggets, 6d. to.fiid;; half-woole/tb 7d.i-,torn ] and damaged, 4Jd. to'6d.; black skins, to sid*; pelts, to 4J(}.; butchers' crossbred;, at: per- piece— ♦ skins, '53.' Gd., 6s. id., to 6s. 7d.; good skins, 7s. to 7s. 4d.; heavy skins, 7s. 7d. to;.9s<' 4d.; dead,from 6s. t075.6d.; salted crossbred, from ss. to 65.: Belts,.to Is. 7d.; lambs, .fr6m.\45.,«6d..t0-ss. ss. 6d. Hides-Cows, bost;lines, 6d. good,-: to 5Kd.; wet .and sloppy, -sid. to 53d.; 1 ox, medium,, .to 6fcd.; ox, light, -s£d. -to 62d.; steers, 51d: t0,55d.; cows, cut, to si<L; bulls, to 4ad.; yearlings, to 7ftd.;, cut and-flippy hides, • 3d. t6 sd. Calfskins—Best lines, 9?d. to 10& d.; good, 9Jdi to 93d.; meaty,, to Bd.; cut;and slippy, < 5Jd» to 63d.; dry calf, "to is/ cach. Sundries— i Tallow in tin§;. 2Qs. 9d-; in. casks,. 225. :'to. 235.; . horsehairs Is. 4d.<-to Is. 6d.: per lb.Y rabbitskiris, I 6d. t0,.72d.. : per > lb, ;■ tails, ; to Is.; 3d. 1 LONDON MARKETS. ' Messrs. Dalge'ty and Co.; Ltd.', Wellington, have received the following cable messages from their ; Lonaon onice J( aatca uctober Kj—l'rozen Meat.— Beef—The, demand. is . limited and the market is weak. Kutton and lamb—The demand has been checked by the increased prices asked. Quotations are:—Kow'-Zealand prime -ox 2id.V'do., hinds, 33d.; New Zealand priipc crossbred lamb', Canterbury,-heavy . 4id;,, lipht 4sd., •North Island, heavy 4id., light; 4Jd.f'New Zea« land prime crossbred mutton, Canterbury, heavy' 1 4Jd-, North heavy 4idv, lislit Wool,—' Tho second series of. sales -have been fixed to open on-March 8, and are limited .to 175,000 bales',-not now arrivals, provided tho quantity bo reached before' the eighth day prior to the opening of tho. sales. No wools arriving.. after that date will be .admitted/.'Limits (if. any)" for following sales will' be fixed' later. Third' scries, opening date; April-26; fourth seriesr opening date, : Jui.v 12; fifth series, opening date. September 27; sixth series, opening. datc, November 22. .- BANK OF ENGLAND RETURN. (By. ; Association.—Oopyiiffht.): \ 'l • •••'' London; October. 15,, ' $iThe Bank of-England return .-issued for the week ended'-' Wednesday, October'''.l3/' ! -is' 'asunder r—- . s *Ifsux Drpartitrmt:. :): • Note Issue ... £10.917,CC0 Gov; eecuritiesin,ols,ooo Other secuH- •• •• ... ties.; y,-,7,434,000 " ' ;• :GoW v . • v • • X 50.017.000 . £50,917,C00 ' Bamcko Department. . proprietors Govi. securl- ( - capital £14,553,000 tics . ... £17,71?,000 ' ' r .'Public Othorsecurl- . , • : : V; pOGits. 1 ..."-V 6,874,000 ties ~. 59,053,000 •' ' • .-Other de--' - . ; .posits 45,076,C00 Notes 21,10-2,000 Best, 7-day • andothor . Coin ... 1.848,003 bills .... 3,212,C00 ■ £6?},715.000 . £69,715,CC0 The,leading'.itemi: of 'the Bank of England re» . turn-.afford the following comparison;—;-. . i ; . •' ; This week. Last week. List year ' £ Bolliop, ~.v'' r 33,466,0C0 35.4W.C00 35,04n,000s•' Reserve;.. ■ . ' 54.050.0C0 •' 23,t.3ti,t00 • i5,W6,000* • NotccircalaUon 29.815.00J 2&.7i8.0C0 „ PabJio Deposit? 6.87d.00J, , {i,Q98,«j0 4,046,000 ' " Other Deposits*' •'4s,O7fi,oiW' • 45,256,000 46.707.0jU l iovortion. 0/ resen'o to . ' Vj . liabilities... 44.0 ■ 45.21 . 51.03' , ' GOVERNMENT SECURITIES. ; - ; The following are tho latest quotations •xot-V Government securities, with a comparison ;of-those ruling last weak:— • . .s- I [Variations .

. .'" .THE'MONET MAEKET. ' The Bank of England. distount rata is 4 per 1 cent., to which It was advanced on October 14. '■ i- The open market discount rate for best three ; ;m6nthsV.bills is l''l-16 higher at 3J per cent. Short loans are i per cent, higher at 15 per ccut. ! '-'■'■■yTEE METAL MARKETS. , ! Copper.—On spot, .'£s7 12s. 6d.—7s. £d. lower i , .three months, £58 125..6 d. i Tin.—On spot; 17s; ,6d:'' lowet'. at £138 55.; three . months. 10s. higher, at £139 12s. Sd. , Lead.—Unchanged, £13 ss. . Ir.on, 51s. lOd. j Silver is quoted at 23 7-16(1. per ounce standard. [ COLONIAL AND OTHEIt PRODUCE. . • p .Wheat.—The wheat markets are firm, but thoro i is not. miioh, animation. Holders aro asldne 41s. a 6d. for - Australian and 18a. 6d. for new l crop; January-February; 41s. 3d. has been paid J. for a parcel.of 2000 bushels of South Australian j afloat; Australian,'on spot, 435. 3d. and 445. r. , Tho 'American visible supply of wheat .is r 44,154,000 bushels. Chicago. December, 1033 conts B to' 1043 cents. , Flour.—Market firmer, and business limited. ■ Australian patents, 325. a sack. i Oats.—A, firm market, La Plata January-Fob. i. ruary,,l3i.;9d. •. .

Butter.—Danish baiter is firm at l£9s.to ■ UI«V owing to Germany takirig a large quantity. There is little demand for stored. ■ Colonial,.-106s. to 112s. ia offered, .consignees asking 116s. to'llßs. The first.of the now- make will be ..arriving ne*t week. Secondary sorts ore neglected.' ■ ■ ' .. Sugar.—Market quiet. . German beet, Uβ. 4d.;. .flrats marks granulated, 13s. 4o\ "■' : - ■ ■Bradford Tops.—The Bradford top market is very weak: Businees' for morinos la suspended. There is free offering for ncxt-ycaf. . Common sixties and , .-crossbredß are firm on. snot and a halfpenny wcakor for future delivery.

THE FEOZEN MEAT MARKET. . .. (By Teleerapli—Prcs3 Association-Copyright.)

(Itec. October 16, 5.5 p.m.) ' '• ' . London, October. 15. The Frozen Heat' Trade Association's .Smithfield market quotations for the undermentioned clauses of frozen meat arc based on actual sales of not less than one hundred carcasses of mutton or lamb, or twenty-five Quarters of. beef of fair average quality. 'Tho quotation's are not for selected lines, • but for parcels fairly representative, of the.bulk of tho shipments now on the market. Tho prices which follow are on an average a farthing per lb; more thau'tho value■ ex. ship, this difference representing aa average cost in expenses, handling, conveyance, and • selling themeat:— ' ' Oct. 9. Oct. 16. Jfotton- '•: '. d., ' . d..Canterbury, light ....■ 3J " "!' " Canterbury, medium ■ ; !'..;•" 3J' '■■ ■■' 4i ' Canterbury, . heavy 35 4J North Island, best 3-9-16 4j . North. Island. - ordinary ......;... 3 7-16 "• ~ 4. S-16 Australian, light 3} 4 ' Australian, heavy 3 — Biver Plate, light '31 -, - Eivcr Plate, heavy 31, 41Lamb— ' ' ~ • -. •' ' Canterbury, light '.1 313-16 45 Canterbury, medium .„:.....'. 3 9.16 48 Canterbury, heavy 3| 4i Southland .......'. ...„..;.......,. "3i'-' ' 4}- ■ North Island, selected 3i 48 North Island, ordinary .....: '3 7-16 4i ■ Australian, best ; — — x Australian, fair — — Australian, inferior .— — , V-'-'Biver Plate.-. 31.' 41 BeefNew Zealand, ox fores 23 . 23 I , ' New Zeaalnd, ox hinds-..;..'.:.:... -2j V. "33 , .v. Australian, ox fores ; '. 25" 25 ■' ,! ~• Australian, ox hinde 31 . 31 Kiver Plate, ox force ......:...,....- 23 •-.- .21 Biver Plate, ox hinds .....:... 3 3-16 3 3-16 •Frozen mutton and lamb have advanced ripidly, low prices having greatly stimulated the consumption of mutton, reducing stocks to ( moderate compass. This, coupled with light cargoes afloat, and tho Bhortage from Argentina owing to tuc bad season, induced largo speculation, much meat changing ownership, bnt little has moved out of store. The retail trade has not responded to the advance. • >.

C ° m w Th d,; ■ i last week. £ i. d. ~ ~ 21% Imperial Consols... ... 83 0 0 UnohanEed . i N'.b.W. 1953 Jah.-July ... 100 0 0. Unchanged ; i4 „N.S.'W.1II1S Mar-Sept ... 89 0 0 Unchanged , a. ,.„K.S.\V. 1KB ApL-Ocfc .., : 80 0' 0 is, effiX ; i;„ Vic. 1120Jan.-July.;., ... 101 0 0 UnchaS 94 „ Vic. 1921-6 Jan.July ... 08 0 0 !B.M™hE 1 i Vic. 112H!) Jan.-Juiy ... 66 10 0 UnchaS ! 14 „S.A. 1818 Jan.July • ... 9d 0 0 KoIot ! 3 „S. A. 1916 Jan. July .... 84 10 0 cS ,3 A . QTdlSl3-21Jan.Joly ... •«. 2 6 UnchS- ; .Si „(/l'dl92M0Jan..July ; ... 6710-0 uKS ■•■a. ... S610 o , siK ■' 1W -' 0 ' 0 /Unchanged S 4 - ■ "9 W 6- Unchansod . 0 ... 86 10 0 Unchanged • .34 „W.A.l(M>-i0M&y-Nov SM0 0 2s. (id. lower ' 8 ; „W.A.l!flM5itay-NoY "... 67 10 0 Unchanged Bi.lWlD40Jan.Joly ... >{,810 0. sffiiS 3 .'las.mMOJan.-Juiy ... 87 0 0 Unchanged