COMMERCIAL ITEMS.

Dominion, Volume 3, Issue 683, 7 December 1909, Page 10

COMMERCIAL ITEMS.

, ; . INVESTMENT SHAKES. ; Sales were mado-yesterday: o£ Bank oE New, Zealand shares at '£9 lis. fid.; eidiv.'; New Zealand Inaurance at £J 16a.; 'aiid Wellington.Woollens at £3 4s; 'National-Bank, buyers,; £5' 195., sellers : £6;,. National Mortgage,- buyers £2 18a.'6d., : sellers £3 i Loan and-,Mercantile,;.sellers ,45.:; Wellington InYestment, buyers lis., sellers' lis.. 6d.: Wellington Trust:and Loan, buyers £7, sellers £7 3s. 6d.;' Wellington 'Deposit,' sellers Bs. 6d.; Feilding Gas, buyers £1 ,Is.- 3d.; Napier Gas. £5, .paid, buyers '.£l2;sv6ellers '£12 7s. 6d.; Wellington Gas, £10 paid;! sellers '£18; £6 -15s. paid, .Sellers - £14 55.; National' Insurance, sellers £1 Bs. j South British, buyers. £2 12s'. id.. sellers-£2 15s.'; Christchurch Meat,'-.buyers '£10 lte.'s Gear'Mcat, £1 paid, buyers £2' Steam,''seller's. : £1 13s. 6d. i. Wellington ; W.oollen, buyers £3- 3a.•3d., sellers £3 4s.' 9d.; ;Westport Goal, sellers'£6 Ms. I Westport-Stockton; sellers ?3.-., Kauri Timber, sellers 165.: Manning and.' Co., buyers £S.. 155.; :Ncw Zealand Consolidated £1, 4s. .c-d.; New Zealand'»'Drt2B^>. : buyers". , £2, ,6s.,'.sellers £2 7s. 6d.: Sharland'B ordinary, sellers £1 Os. 6d.; preference, buyer3i-£l ,os. 6d.; Taranaki Petro,. ;loun), sellers 7s.ji.Ward and C 0.,. sellers £4.' 155.: ; Wellington Opera House, sellers £7 17a.' Gd.

N MONEY MARKET. The Bank of England figures, published on Saturday, when closely viewed; are' not -at all reassuring.. Two . weeks, ago. a reduction in the bank rate seemed -to -be extremely probable but, now the pendulum has : swung, the other way; .and an advance .to 6. per; cent, .is- not unlikely. The 5 'per cent'.',-.rate 'appeared ;to' have checked ,the- : outflow ' of : gold; - but last: week there was again, a-shrinkage which is'far from satisfactory. The 5 pot cent, rate became operative' on. October 21;; and' the 'metal in- the Issue Department.: as shown by' the' weekly returns, was as follows:— , \/. v . ' Gold. ' Reserve. n. Oct. ' 20 "31,597,000: ' , ; 22,323;0c01 Oct. 2'-' .. . i 30,927,000; '.' 21.974.CC0 - .• '; Nov, 3 '.30,835,000 : J • 2t,«J,0(!0 :• Nov. 10. ..................... - 31.940.GG0 ■ 22,8M,0M."' '. /Nor. 17 "34,050,000 25.364,C00 Nov. .24 '.... 35,240,000 26,502,000 •- - - Dec. ' 1 35,035,000 •' 25,776,0C0 V For', two weeks after . 5 .per cent, rate .came into force there,was'continued shrinkage of thestock of. gold coin- and bullion, vand from' £38,853,000 .at. the- bepinnincr'-of. September-, tho amount had dwindled to £30,835,000 at the beginning of November. There followed ther. a '.steady. improyement. ; the increase in three weeks amounting to £4,405,000: There was' a decrease last week, of £205,000, ;and'the position is-bound 'to set worse: because ; of the peculiar, demands' at this time of the,year. And the:general election will further disturb the market. , There Is thus every, prospect of a 6 per cent. rate, although we may bo sure that the directors will do their utmost 1 not : to place so severe a chock on .trade ' just ' now. '

. PRIVATE WEALTH. - 'The ..Victorian Government Statist has compiled some interesting figures relative; to • this wealth'per head of the people in-the States of : .the Commonwealth and'other countries.-• As the Statist points out,- the returns of tho Probato Office provide a means whereby an approximate estimate may be made of. the- private wealth of ■the people. The property left by persons who died during the - fivoyears,. 1898 ■ to 1902, is the basis whereby tho property owned' by. the people living, as shown by tho census of Wis estimated'. : A period of five years is taken be.cause the returns for a single year nvav bo unduly inflated by-the falling-m of one or several 'very • large estates. The average- amount left by each adult who died during --the period named is assumed to be the average amount : owned ' by each , adult. alive ' at tho consiia of 1901. The accumulated wealth of an individua' !is believed to be greater at a more advanced than at a less advanced age, and is probably greatest "at death. Whatever advantago there may be is probably counterbalanced by some items which -cannot he brought into the computation. . The: following is a Btatcment on tho basis explained, of tho private wealth in several Australian-States and New Zealand:— . Deceased , , . Avor. amt estatee.. . Death i left by Net amount 'of each insworn to. Adults, dividual ■ ■■■'■ ■; • • £ No.'-. £ N.S. Wales 24,027,400 46,710 514 Victoria.',-25,633,200 . , 53,213 462 S. - Australia ... 6,383,000 -12.591. . 507 . New Zealand ...Hi329,700 -j- 24,645 , 459 It la necessary, in-order; to 'get 'a more comprehensive view, to add the table that follows — Adults at Privates wealth - - ' v census., ' Total. . Per head. •. - No. £ ■ - .£ N.S. Wales ... ,700,480 360,047,000 .'' 266 'Victoria. -651,143 >. 313,851,000 261 , : s. Australia'...•, 185,327 . 94,468,000 2fo -, . New . Zealand... 437,208.. . .'200,678,000 . 246. - Customs revenue collected' at Wellington. t», terday amounted to £2238 95." 7d. ' ■ . THE' FROZEN MEAT MARKET. ' (By Telegraph.—Press Association.—Copyright)' London, December 4 Tho Frozen Meat .Trado Association's SmithDeld market quotations for the undermentioned .classes of frozen meat are based'on actual sales of not less than ono hundred carcasses of mutton or lamb, :or twenty-five quarters of beef of fair average quality.:. Tho quotations are not for selected lines, but for parcels fairly representative of the bulk of tho shipments now on the market. Tho.prices which follow arc on"an avcrago a farthing per lb. more than-tho valuo ex Bhfp, this difference, representing an average cost m expenses, handling, conveyance, and selling .tho meat:— ■■■'.. N0v.27 Dec.4. Mutton— d. • a. Canterbury, light'.'. .' 41-16 4 Oantorbury, medium 41-16 -.4 • Oantorbury, hoavy. ; ;. 315-16 33 ■ . Southland .-' '..' 313-16 • North Island, best. ;....... '313-16 .'■.•North Island, ordinary' 35 . 33 , Australian, light .' .. 3} 3 - Australian, heavy 37-16 2J : • Elver, Plato, light : 7- : 3J V . Jliver Plate, heavy 3J 3$ Lamb— . ' Canterbury, light 4ft 4 Canterbury, medium 33. 38 : Canterbury, heavy 3j v Southland 33 :■' 311-16 . . North lijlahd, selected ...L. 3j • ■ 311-16 - North Island, ordinary 311-16 , 33 ■s .: Australian,' beit- — ".' 315-16 Australian, fair —.. 33 Australian, inferior — JJ. 1 Blver:Plate - Ji-u

Beef—".'" ' ' ' . ... - , New Zealand, ox fores 25 213-16 Now Zealand, or hinfe 3i. 3ft " Australian, os fores J 213-16 . 23 Australian, oi ; hinds 3J 3 Rjvcr Plate, ox fores 33-16 23 ' Eiver Plate, ox hinds 35 3J . BABBITS "AND HAKES. Rabbits.—Market quiet. Largo Sjdneys, ex store, 16a. English aro chcnp and plentiful. Hares—Little is doing in hares. Sydney aro nominally at 2s. lOd. to 3s. Holders arc firm, with a view to a probablo shortage at Christmas. HIDES AND LEATHER. ' ' Hides.—Neglcctcd at nominal prices. Queensland, heavy ox, 71d.; light ox, 7Jd.; cow, 6Jd. Leather—Tliero is little business doine in leather. First Wellington, 17d. Basllß have declined a halfpenny to a penny. COPPER. Copper.—There have been. fluctuations . duo to' varying reports respecting amalgamation. It is now stated that the promoters have approached the .Washington authorities with a view to getting the highest sanction to the scheme. HIGH COMMISSIONER'S CABLE. The Commerce and Tourist Division, has re- [ ceived the following cable from the High Commissioner, dated London, December 6:— The mutton market is very dull; avernce price Canterbury, 3Sd. per lb.; North Island, 3gd. Largo supplies of Dutch mutton are coming forward and selling at 4d. to 4Jd. per lb. English ewea are being marketed at 3Jd. per lb. 'Tliero is a dull sale for all lamb, and the market is weak. Canterbury averages 33d. per lb„ and other New Zealand brands 3|d. 'Tho beef market is weak, with no change in prices. New Zealand hinds, 31d.; fores, 3d. Thero is a good demand for butter at reduced prices. Buyers are holding back expecting prices to go lower; supplies aro increasing. Average price ■ of choicest New Zealand, 115s. per cwt., Australian, 1123.; Danish, 1245.; and Siberian, 103s. The chceso market is quiet, and prices are slightly weaker. Average . price of finest New Zealand, 565. ■The hemp market is quiet, but firm. Good business has been done in New Zealand hemp at last quotations. Good fair, on spot, £28 10s.; fair, £27 10s.; January to March Bhipments, £28 and £27. Manila hemp is weaker as a result of heavy arrivals. The week's output of Manila was 28,CC0 bales. • Wheat is a'firm market. Supplies of New Zealand wheat aro.practically exhausted.: New Zealand long-berried; on spot, ex granary,; per' 4961b.; 395. 6d.; short-berried; 395. Oats—The market is slightly weaker, .with" less demand. New -Zealand short oats (spa.rrowbUls),.l9s. 3d.; Danish. 17s.' ' ■' - , ■ Beans.— I The market' remains firm. Now Zealand, f.a.q., new crop,.'4os. per. 6041b. Peas.—The market is firm owing to reduced supplies; the spot demand is good, also'to arrive. New Zealand- partridgo peas, 545. - per 6041b. ■ The arrivals of River Plate mutton and lamb at British 1 ports during November were as follow:— ' Mutton. Lamb. Car- Car- ... ' casses. casses.' '. London .45,663 . 6,846 : Liverpool 85,801. 11,990 '" Hull . 9,268 2,532 ' •: Southampton • .... . 1,128 60 * .. .Cardiff , ...; 4,739 87 ' "