COMMERCIAL ITEMS.

Dominion, Volume 3, Issue 652, 1 November 1909, Page 10

COMMERCIAL ITEMS.

INVESTMENT SHAKES. A Bale 'of Standard Insurance shares at. .£l 2a. 6d. .was the only transaction recorded' on Saturday. National Bank, buyers £5 195., sellers £6 Is.; Metropolitan iPermaneni -.buyers £11 .126. 6d.- t National Mortgage, buyers £2 '175., Bellers £3; Wellington Investment, buyers lis., sellers lis. 6d.; Wellington Trust and Loan, buyers £7, sellers £7 2s. 6d.; Napier Gas (£5 paid), buyers £12 2s. 6d., sellers £12 7a. fid.; Palmerston North Oas.' buyors £7 155.: Wellington r Gas '(£6 10s.' paid), buyers £13 105.,' sellers £14 55.; Standard Insurance, sellers £1 Zs. 9d.; Christchurch Meat, buyers £10 12s. fid.; Gear Meat (£4 paid), buyers £10 6s. (£1 paid), buyers £2 125.;; Meat Export (£2 12s. 6d. paid), buyers £2 14s. 6d.; Union Steam, sellers £1135.; Kaiapoi Woollen, ordinary, buyers £4 17s. 6d.: Wellington Woollen, buyers £3 2s. 6d.; Hikurangi Goal, buyers 18s. 9d.; Taupiri Coal, sellers 19s. 6d.; Westport Coal, sellers £6 55.; .Wcatport-Stockton, Bellers 75.; Donaghy Rope and Twine, buyers £1 Is. 6d.; lieyland-O'Brien, buyers £1 35.,-sellers £1 3s. 6d.; New Zealand Consolidated/! Dental, sellers , £1' 4s. 6d.;,. Slrarland's ordinary, Bellers:: 205..- 9d.; preference, buyers 20s: fid.; > Tiranaki Petroleum, sellers Bs. 6d.; Ward and Co., brewery shares, sellers £4 lis.; Bycrofts, Ltd.,' sellers 16s. 3d. . The course, of i; sales during the past month was aa under:—• ■*•' . " .• Bank of New'-Zealand,' £9 45., £9 4s. 6d.. £9 lis.,: National Bank, £5 19s. ,' •' ■' Wellington Investment,''lis. 6d.," lis.'4Jd.'." ' Wellington' Trust:and Loan, : £7. . Wellington' Deposit. Bs. - fid. 'Napier "Gas (£5 paid),-£12.55.. £12 2s. 6d.| £1255. : New Zealand Insurance, £3 17a. 3d. South,-British, ;£2; 155.,6d.,-£2',lss.\4d.' . '(,1 Standard Insurance, £1 2s,. 1 6d.; £l'2s. 6d.' Wellington Woollen, £3. is., £3 Is. Taupiri Coal, 19s. 10»d. .. • Westport ■ Coal, ~£t -45.. lieyland-O'Brien Timber.'-235., ,235.,'. 235.,' ; 23s.'' Taranaki Petroleum, Bs. Ba.' . \. .NOTE 3..;. , '.W-i:'-The/ Ocean" Accident' and "Ouirantcd. Corpiirition declared an interim dividend of 20 per cent, per annum for tho half?year ended Septomuer 30: : During the eight:months','endcd iAugUßt 31 last New South Waleg sent abroad 170,2711b. of wool "tops" to the value of £19,375, being encouraged to embarlt-'on-tho industry by the Common,wealth' bounty. : ; The total railway mileage open for traffic in India 'is 30,576 miles. During the past financial year 616 miles of line were opened to-traffic, and 2392 miles sanctioned for construction. • In'tho "United States tho outpnt of-'pig-iron in the first ,halfr: of'j-thisj:year;'was tons, as compared with 9,018,014 tons in the second half of 19C8, and with only 6.918,004 tons in the first half of last'^yearV'-.Tms'certainly shows a substantial revival., ' Canada's ;-mako'"of'.pig-jron daring/the.; first: half of this :yeariwas .Qie •'heaviest ? of .-any-nix ; months on record, reaching 349,641't0n5, and it is expected v that tho year's/ output willifully equal 7t®,000 tons. ' . ;',V , ~:. Navigation dues - on.the Suez. Ganai -in .'the first eight months of the'year amounted to £3482,859,againsf , £2;B46;629'*in' 1908; 'and. ,£3",070,615;' in' 1907.' : The .finances -, of. Germany in the! financial 'year ended March-31-'were far from- satisfactory. The rofenne ■■ fell -short; of the' Budget estimate by £9.855,000, butv there were savings; ini'the expenditure of, '£3455,000,' so. that'.tho'" actual deficit was £6,100,C00.', ThisTv -togethiir^-with . about £8,450,000,' of - postponed , .or uncovered ~matriculari'contributions from.; the States,v and. a deficiency of 'nearly £7CO,GOOj from 1907,'- will, have to :be' covered'by loaii. -i'ieb' i 'the,G'ovemment'is : eager to pile up the expenditure bn'the'navy; imd to ■ force-others to vdo'tho sam'e.> The total capital invested in the'.nitrate',ins- - of; Chill-is estimated approximately at £27,500,000; of which alnoiint £IQ;7CO;OOOViiS'BritiBhi £10.500,000• Chilian,, and - £3,300,000 German.- Bel sides this' pieponderahco; of foreign',-, tapital inV, vested,,the head.ofßces of,the two most important commercial' undertakings ;in '-'Iquiqne ,arrf. established in London. These conditions should undoubtedly, pla& the United' Kingdom in a very advantageous position': in-. regard..to - r tradewith .Iquiriue. particularly, .when the fact:is taken into consideration that every articlc of .commerce has to ['ho' : imported by sea, as the surrounding; country is rainless and produces nothing but nitrate. , ; Up Li to June I',' the Panama Cfinal-'had'costlthe United States Government 154,177,884d01..-or, say; £31,606,467.. -:Tliis .was ''made up, as under:— PaiS,-France.on transfer, of.the works..-. £8,200,000' Paid Colombia 2,050.000 Municipal, "sanitary,''and' civil "adniinis- : - tration -3,650,015 Plant 8.031,467 Construction _ :-9,644,965 • '■£31,606,467.'. But.the final cost willtinore than''douhle.that. '■ : Tho Transvaal' Treasury for. the to-' anclal-year ended June 30 shows that tho/'actualrevenue was £5,735.524, as compared .with the estimate''of £4,682,962. The -eipendituro , was £4;524,835, against an' estiihated..'expenditure •of £4,657,303. The ■ Exchequer. balance ,'on June 30 was £2,730,676. ~v ..." ' '

V . THE EUSHt OP MODEEN. BTJSINESB.a;^' as Sir Samuel ,Montagu,-head ol tljeVgreat!firm of Samuel Montagu and Oo.i who has justYretired'from business : after 62. -:yeajs of 'active Scity life, ' was asked vwhat :was-,'the moutvnoticeible thing ia modern .'business .life, and inethodsii-; His Lordship said that the , tendency Itoyards "more direct dealing in banking and financial Jbusiness was undoubtedly the most development during recent'years.' Oonti&tiing, lie said:—"The middleman element in such; matters is now largely •eliminated; and brokers. are, Mind ' have been -for years,-' diminishingjin- numbers. But throughout all. the years the prudence and integrity of our. big institutions and great financiers havo maintained,'if not increased, tho confidence-of the world in Great Britain, as the money market The;volumo of trade in other countries lias also increased, (>nt onr "institutions have never altered in .character, with. the result that,.:at the present: time, though you might be l able'-'to mention about two dozen absolutely - first-class institutions on the Continent, yet we have fin Great Britain alone several dozen of such bodies. Business life Is now much harder and quicker .than"it was forty years ago. The cable and telephone have changed its character,: and;. in this ihstance at least, science has benefited the (public.'. For the cable and the 'phone have cnt into ' the large profits that were formerly possible. Men who used to obtain J per, cent, for a ■deal now have to be content- with l-16th, so here : science has helped the masses ;at the expense of-the individual. But-it is ii saving at the expense of the brains of thos? engaged, and .fortunes'are now much harder-to make than .they;'wore years i ago: And, despite the struggle which people - now have to make money, they Beem to value it less after they have obtained it. Luxury and extravaganca Jiave increased and thrift has diminished, We have altered our ideas'-r.s' to-'.what.-'.constitutes wealth.-. Thirty -orvforty" wars ago £100,000 was' the bu-sinvs man's 'plum.' Now anything under one or tiT', millions is. not considered a fortune at all. I think, on .the whole;'the movement of money which this change indicates is a good thing—so long as the money is not uselessly or viciously spent." . . . - . .'.

: Customs revenue: cflUected at WellinEton on Saturday/amounted to ;?895 19s. Id: .The total for the.'-week, was £12,345 9s. 93.,' beer duty £204 is.- '■ .

. I'AIiJIEBBTON MAEKE'f' ItEPOItT. , i !'. Mr.'Harry Palmer (Palmerston North) -reporte an abnoimnlly bnsy market on Saturday, every nicli of available npace ■ beinj- raore than tlHcdThe" presence of several outside buyers- hardened the prico of pigs considerably, and ■ the averago for weaners was considerably above rrevious quotations, whilst porkers 2s. to 3s. per head. As usual there was a very large supply of poultry for show : week, and, notwithstanding that over 600 head went throush our - hands, - prices,, were well maintained, and .practically nothing sold under 40. 6d. per pair. Produce moved off fairly well but there is,"a great scarolty of good vegetables, jiarticularly of cabbage and other spring lines. 'Wu sold some 300 bundles of rhubarb, . which practically cleared out our growers for a week or two. Wo quoteWeancrs, lowest prico. 10s. 9d., 123., 12s. 6d„ , 'l3s:, 14s. 9d.-to 15s; 3d.; slips, 16s„ 15s„ ,16s. 6d. to 17s. 6d.; stores, '£1 35.'3d.,.£l 45., £1 55.: light -porkers,' £1 3s.,'£l .'ls., 6d„ '£l 6g, Cd., £I.'7s. W.: to £1 ,12s. 6d.; empty- sow, £1 165.; Buckoi'6. 9s, to'l6s.; ducks, ss. (d„ ,ss. ?d. to 6s. per patr; goose,' 3s. 6d;" to - 6d. :eaoh; turkey gobblers.' :10s. cach; hen turkeys, Cs. 3d. to 7s. 6d. . eachi.' cockerels, ss. . to 6s. per pairi hens,. 4s. 6d. ■ to 6s. 6d., , average '4s. 9ii ducklings, ,Is. 6d. . to 2s. 6d. per pairi uhicks, sad-lalt-grosra coclicrelfl. la. 6d. to 3s. 6d.; hena.

and broods of *-ducklings and chicks, '6a. to 10s.; rhubarb, 1 6sV. per: cloz;''; asparagus,- 7s.- to 9a.. per doz.; new potatoes, 2d. to 2id.; prime table do.. Bs. to 10s.; inferior do., 1 5s. to 75.: pig potatoes. 2s. 6d. to. 3s;: Id.;-carrots, 2s. 9d,:.red .chaff, 2s. 3d.*«.to 3s. 4 , 'oats;-63' r r 3d. to lOa.j'vbran;. lOsij-bar-' ley, .95.; wheat, 16s.;' fowl feed, sweopings, ss. •pcrsacft; onions and'picklerp, Id.; cabbage, 55.; cauliflowers, 55.-to 7b.; mangolds and swedes,, Ib. ta.i pollard, 10s. 6d. A'lino of .farm sundries sold 'well. - This line included a plough - (£7) and a spring dray (£10). • \ ; • PEILDING MARKET EEPOHT. Messrs. A: V H. Aikinsoti and Co., Ltd., of-Feild-ing, roport.'a moderate yarding of pigs at last week's sale.' ritid keen competition,- and higher values 'all' round:' The pigs., offered, were for the most part well-bred, sorts, and the -firm cotild' have 'sold ;more of the same class at prices considerably in' advance of lato rates. Weaners sold up ; . to 16s.', and made an average price of Jss. Some horses' of good quality were offered.and'disposed of. In poultry there -was' a- better offering than'-of late, turkeys selling up to 10s. 6d.; and for pood quality •of -ioyls' penned'' extreme values were made. :No good table birds were forward: In produce lines, littlo variety was offering, and potatoes are still dull- of sale. .Quotations:— Pigs: Weaners, Us. 6d., 135., 13s, 9d.. 155., 16s.' 3d., 15s. 6d., 15s. 9d. to 16a.; -slips, 17s. 6d. to 21s. 6d.; stores, 21s. 3d. to 25s.;'light porkors, 245., 255. to 295. 6d. - Horses: £4 10s. to £10 10s. Poultry (at each): Chicks, hens, lsi 9d.. Is. ,lpd. to Is. lid.; roosters,' 2s. to 2s. 6d.; ducks, 2s. 6d. to 2s. 9d.; turkey hens, As. 3d. to 4s. 6d.; turkey gobblers,"^Bs. '6d;,'Bs. 9d;,'-.95. to 105.6 d. Produce: Oats, per sack,' 9s;; seed to'lss.; bran. 5 s,; pollard, Bs.; Bced potatoes. 6a. 6d. to 10s.; tablo do., 7s. to Bs. 6d.; onions, id. per lb.; factory bacon, sides, 7Jd.; hams,. Bd. ~per lb., FROZEN MEAT The New Zealand loan and Mercantile Agency Company, Ltd., hag- received -the,- following cablegram from their London house, Under date October 29:—"Frozen' Meat.— Moderate demand —mutton; market weaker—lamb;: market has': im-. proved—beef." —. " BANK OF ENSLAND KBTU&N. (By Telegraph.—Press Association.—CopsTiebU , London, October. 29. . The Bank of England, return issued for the week ended. Wednesday,' October 27, is as ; under r- ■. '. . c.;",! .- • . Issui Depabthent. NotelßSM ' £49,376,000 Gov.6ecutißes£ll,ais,aX) ■' Other securi- . ties ... 7,434.008 -; ' Gold . ..... 30.&7.000 ■'. £«,3T6,tK» £49,376,000 ButKm-aDnpjuminara. , v ■ ; ' Proprietors -V ': Govt., seenrl- ' capital £14.633,00) '■ ties-.; £16,7f)2,000 '• Fublicde- Otherseenxi- ■ ' '• posits ... .17,118,000 ■ ties ... 56.906,000 ■ - Other de- ' . . ' . ■ ■ . posits ... 40,314.000'N0te5*20,528,000 . Best, 7-day r . and other „ ■ ■ Coin -1.443.003 bills ... ~3,187,000 .' ~ f55.672.000 - - . £65,672.000^ The leading items of the Bank of England return allord the. foUowinu comparison:— ... This,week.-,Last week. Last yc&r Button i 30,027,600 ' 31,597,000 '■ ■ 34,762.000 Bcscrvo.. -V ... . 51.974.0C0 : j;22.823.000 .26,257,000 Note circulation '28,850,WW > r .2!).037.000 ' . 28^59.000 l'ublic Deposits ■ -7018,0)1, 6,3Si,UX>/ 5 ;7,]50,0j0 Other Deposits 40,814,000 " 40.483,000 : 41,U5e,000 treporuon' o£ reserve !-to . liaDilitiea'"'.'- 45.80 47.60 ' 53.61 The following. . are ' the. latest' .quotations for Governmant iccuritics/- with a comparison of those ruling last week , ' ' v;'. , Variations '' Vii.-' Pries compared -. -i iV ■ with . ~ ■ ' ■ last week:. , . : - ■ i-'s.'d.- ' . 21% Imperial Consols...-. ;.. 82 10 . 0 65.3d. higher 4 ~ N.S.W. 1883J&r.-July 108 0.. 0 ..Unchanged 35 „K.S."W.I9ISMar-SepS' • i.. . £fcJ10"0 Unchanged 8 „N.b.\V.1935 ' ... '86 0 0 - ' Unchoiifed .4 „ Vic. l£2oJan.-Jnly;„ - 104 0 o 'Unchanged i>«„ Vio:lKil-6.'!an:-July-SB'O'O' Unchanged ,8 „Vic.lWMiCJiuilJniy.. ... ~t6lo'-0, '.Unchanfiod 3i „ B.A. ISU6Jan.-JUly.': " '93 10; 0 Uhohangcd 3 „B.A. 1916 Jan.-JuiyV; ,' WlO 0' Unchanged--4 „ Q'l'dl9ls-24Jan.July ... 104'0. 0 Unchanged '3J ..tj'l'olSil-SOJan.-Ju1y.:,.,.. »w,lO. 0 : ...-.Unchanged i , U'l'altf2W7Jan.July. 86 :3' 6 ' -,7s. (id/lower. 88 16 0 ''Unchanged 'i M: 'i' 6' -Unchanged 84 H AN.AJfIHMOMay-hoy -.9710 0-' .-'Unchanged .3 „AW.A.loli^3Uay-Nov -8710- 0' •'Unchanged l 3i „ l'as. lß«Jah.-Jaiy;-.' - ',-97 12;'6 ' Ys- CdaoVor 3 . las. litMHflJafcJnlyß7:l3 6' 'Unchanged

'rMONEY HAEKET V • ........ • The Bank.-o£,.ltoglarid discount ,rato is: 5 per .cent.,' to whijih yt:: was vraiSed/.'on/Qotob'er-'SI." ; Bhort.loans are 3-higher at 41' per "cent. : . Open- market rate for three months*" bills In-London.-i lower-at 4J-per cent. . In Paris, J higher .at 23 per cent. In -Berlin. I,higher,iat,43 per.cent., .» | COLONIAL ANI/.OTHEK PRODUCE. | : Wheat.— I The 'wheats'm>rkdts : 'Me Steady at a decline, buyers ,bcing:;sc!ircc., : \;Ehormous Russian continue./' Reports f.'of the current crop-from Russia''are 'to'theKeffcct that' there may be 85,C00,000 quarters.-instead of 73,276.000. as previously estimated. ; -Cargoes are quiet, with prices firm. /Fourteen thousand quarters of Australian January-Febrnary shipment have been sold at 375. 6d, per quarter, and 6000'_ tons Australian, .per *>• steamer, 'December shipment, at '38s.'• 6(1. A 'cargo - just' sailed ■is .offering:.at 415.; December : January shipment, 375.y6d;.-tb 375...9 d.. The 'spot ''iriarket is quiet, with .values unchanged. ■ Flour.—The market is . du11,., with, quotations unaltered. • . Oats are quiet. . La Plata, January-February shipment, 14s. V■ Butter'.; is oasier. '' Danish,. 126s'.': to 128s. mi owt:..'. The: Ifbrea's :, shipment '/opened^-with' sales of choicest;'at ; 1165.' to. : prices' are • now llHs.i.to 114s. There is a, limited' demand for secondaries or stoicd. Importers are weli satisfled':wlth' the quality of the'new- Australian.,Sugar'is steady..-. (Jerman, Us. Bd. nef cwt • first; marks, granulated, ■ f.o.b.i Hamburg, 13s. 6d. Kauri Gunm.—At the. kauri gum sales 666 cases were offered/ and 250 sold. '■ Prices were firm. Good three-quarter 6craped, 170s. . .t■ ■ Sheepskins.—At - the ■ Bheepskin sales 6800 bundles were offered,- including ■ 5250 Australasian There was an average attendance. Competition, opened brisk, but afterwards became somewhat' dragging., .There was an average decline of about.'s -per cent..' vMerino-clothings 'declined 3d. to 3d.- per . lb.;icombings,* 3d. to-.jd.; crossbred combings," fino, par to Id;j medium Id.; coarse, Jd.; ■ --. :• , .' ißradford.Tops—The. market is quiet. On the spot;: 40's .are. quoted','at'l23d; per lb.; 46's, 15d -, common. 60's,'25J,d.;' super; :26id.: 64's, 27Jd.' For future delivery, common'6o's 'are'quoted at- 24d.; super, 25d.; 64' a. 26d. ■ . , N r ;■ TEE . METAL MARKETS. . Copper, on the spot, £& per ton; three months. £58-2s. 6d.; electrolytic;-'£s9. 'fin;— Spot, £138 . per- ton; three months, £139 ,17s. 6d. ~: ' . ■Lead.—£l3 2s.'6d.,^per-'• ton. 't . Spelter, £23. Glasgow vPig-iron, 51s.' 4d. i per. tori. ' , Baf silver is quoted ,at> 23Jd., per ounce.

' THE FROZEN MEAT MARKET. (By ■■ Telegraph.-r-Prcss : Association.-Copyrieht.) ■ y : (Eec; i 'octbber"' : '3l; '5.5 p.m.} ." ' „ ' London, October 30. The; Frozen'-,-Meat - Trade Association's'Smith--field market' quotations for the undermentioned classes 01 frozen meat are based on actual Baleo of not less than one hundred carcasses of mut-' ton or lamb, or-' twenty.-flve quarters of beef of fair average-duality. '.The quotations are not for selected lines, ; :ibnt -for'parcels fairly representative of tho bulk;,of.-the shipments now on the market. The prices which follow are on an average a farthing per lb. more than the value ex ship, this difference representing an average coßt in expenses, handling, conveyance, and selling the meat:—.' ■ , • i ,- , Oct. 23. Oct. 30. Mutton— . d. d. Canterbury;light'" " 44' ' '4| Canterbury, medium 4} ■■■ ■ 4J : Canterbury, heavy -4J- 4} North Island, best ; 48 4J North -Island, ordinary .; 4},. ..,41 - Australian, light - 4 35 Australian, heavy ! 3J - , River Plate, light 4i' 4 . Kiver Plate, heavy ;. .' 4J 4 Lamb— Canterbury, light't ~c.. -43 ' 4J. Canterbury, medium.;.... 4? '4J ' Canterbury, .heavy . 4) ' 4J 1 - Southland : 4J 4J' North Island, selected ............ 43 .4f North Island, ordinary 4J ' 4j . > Australian, • best ..- — . ■ ■ , Australian, fair — — Australian, inferior — — ■ River Plate :... 41 41 Beef- ' Now Zealand, ox forea 2! 3 i-ifi i . New Zealand .ox hinds —>3g' ■ : 3i, Australian or fores -2| ' 3. Australian ■ ot hinds ... 3i . 3 5-16 River Plate ox fores,..,i 2J . 3 " ; River Plate oi-hinds ............ 23-16 35-16 COLONIAL AND OTHER PRODUCE. Lendon, October 30. • Eucalyptus Oil.'-The' 'market is' quiet, ;and quotations range, from 10d.- to Hd, ,-■• Copra.-r-Thc market -is . Btrons. There h*va boonilargo, sales-oi South Sea,-.in .bulk, at:£Sl~ 10s:,:'and iri.bago.at JSII 125.,6 d. . . Hemp.'—Tlio market is inactive, and prices arn unchanged. .. • • . Cotton.—At Liverpool, October-November : Bhipmont is quoted at 7.60 d. Messrs. Neill Bros, estimate the crop at under eleven million bales. Short time will probably bo worked in tho Lancashire mills till Christmas: " . - Mimng''.News'will bo found 011 page 9' of this issue:'-'- 1 : v -.v.