COMMERCIAL ITEMS.

Dominion, Volume 3, Issue 748, 22 February 1910, Page 8

COMMERCIAL ITEMS.

C, ••. •; ■'■■ INVESTMENT -SHARES.; "■... ;i> '-. The sales/ recorded'.yesterday were Ohristchureh Meat at £11 ■ ,75.. 6d. ex dividend,' and Westport Odal at-£6'ia." 6d. ..National Bank, buyers :£6::3b;,' "Boiler's ,£6'ss.; New 'Zealand and Siver: Plate, buyers £1,155. . (d.;' Wellington.' Investment, sellers 11s. ■ 6d. ;- Ohv'etctturcb.. Gas, ■'. £10; ..Feilding Gas. buyera £l'}s. £5 paid, Rellers" £13; Wellington Gas,: £6 15s. paid, Rollers £13 10s.; National Insurance,': buyers £1 Bii.; Now :Zoaland '.Insurance, eoncrs.'£3 15s. ;■ Standard Insuraneo, buyere £l r 3s.. 3d.; Gear Meat, £1 paid, buyers £2 125. , 6d.;' Wellington Meat, Export, £5 paid, buyera £6, £4 paid, .buyers' £4 165., £2 12s. 6d.,paid, sellers £2 165.; Wellington Woollen, buyers.«£ 3 Is.; Wcstport Coal, :buyera £6 : Is.; Weßtport-Stockton • Ooal, buyers 7e. 3d.-,"sellers 75. , 9d.; ; lieyla'nd-O'Brien Timber, buyors , £1 ;3s. 3d.; Now" Zealand ; Drug, ■buyers '£2. 7s. ;','Taranaki ■ Petroleum, sellers 9e.; Ward and. Company, buyers £4133.-

;, '. '-.■ -';: "THE. FREIGHTr.MAEKET. ,:. V .'. MOBSTS. 'Aiigier; in -their steam shinninc report tor 1909,-. Btate that the improvement in. the freight outlook, and the more Bcttled'ilnancial aspect: duo to tho.wiping out of the weaker ship-owning firms,and. companies, which was'so much in evidence during the two''or. three previous .years,emboldened tho manaßcra o£ sounder concerns to: place somewhat freely orders for now tonnage. ■ That these, orders were badly wanted was by Iho prices nt which -they. wero accepted by builders, 7000 to 8000-ton'boats of ordinary speeiflcation;bein(r built for-about £5 per ton dead, weight, 5000 to 6000 tons for about £S to £5 10s., and 4000 to 5000 tons for about £5 15s;, and the smaller sizes (of which com--I parativoly' few are how built for British owners), were proportionately,cheap, abont 2000 tons, deadweight, costing about £B,anu 1000 to, 1500 tor.s, ia the neighbourhood of £11: per .ton ■ deadweight.. Owing, : doubtless, to a. great extent to the impossibility. o[ insuring them nowadays at a. price which would not eat up. all the profit, the demand for: second-hand, steamers was-poor, and many ,wcro.'sold to the , 'shlpbrcak'ers •at. 30s. to :355. per cross resistor ton,, which a few years since would have been deomed to have sorer.il years' work in them. Thie applies especiaJly to steamers of- 4000." to

5000 tons deadweight, as for the smaller sizes, 3000 to 3500, tons and downwards, there seems to 'be employment" still available, even though they may nave been launched in the early J Bo's. The'clearance effected by tho destruction of so much inefficient tonnage should /assist the freight market, to improve, as—though many of those now finally effaced have . never moved, from tho. buoys for several years— the fact that they were afloat and might conceivably be put into commission was a point with which one had to reckon. Most of the steamers, out ■of the working of which! there was a reasonable chance of making a profit, but which have been laid idle by the financial difficulties of their managers, seem to have Rot into stronger hands and to be running presumably satisfactorily, as in most cases their present, capital .value.must .bo very low.

NEW ZEALAND LOAN AND MEECANTILE ■ ■■ .; AGENCY. :: ...-.'■. According to the '• "Financial Times" of January 10, a scheme is on foot for the reduction.of the outstanding liability on tho £9 ordinary shares of the Nov. , Zealand Loan and Mercantile Agency, on. which only 10s. per share has 'so far been paid up.. The details of the schome have not yet. been disclosed, but those who -roniem-" ber the".'excellent showing made by the accounts for 1908-9 will, of courEC, haTdly be surprised to learn that tho directors should at length havo taken in hand a question ■ which has been present in tho shareholders' minds: for many years past. Tho balance-sheet,, dated . Juno 30, 1909, 6howed reserves amounting to £455,000, whjlo.tho New Zealand Land Association, which is practically a . subsidiary of tho. New Zealand Loan and .Mercantile Agency, is in a position to greatly add to the resources of the parent, .undertaking.. It has been anticipated; for' somo time past that the Land Association would prove of .valuable.'-'-assistance when tho time came for reducing the uncalled liability on the snares of tho agency, and. this opinion , is likely.to bo confirmed,in ,thc near future.

.-"•-. ' /ARGENTINE MEAT EMBAEGO. In the. first, weok'in January the "Shipping .World" had the following:—"Tho ports of this country (Great.Britain) will again be. , thrown oper., to the. importation of live cattle from Argentina. Tho embargo at present existing will be removed at the end ,of. March or the beginning of April, provided always that those now-at the head of the Board of Agriculture are again returned to power at. the forthcoming .general; election. This will , be good news .for. Birkcnhead, Glasgow, Deptford; and other ■ cattle-importing. centres. Such action.will not only stimulate an industry in this countryithat has been , hard hit by the restrictions, imposed on at-by Government for : the prevention ;of .'disease,': but ■ will also cheapen our meat supply and check the operations of. American speculators, and -combines. - It appears that the Argentine Government have-been' able ..to convince our Agricultural Department that cattle .disease in.. the,: Argentine'is .eitherentirely; absent, or;is,.well'under control !of tho responsible j authorities." : ..-.ft ■

■-EMPLOYEES'.LIABILITY INSTJEANOE, ,:' Figures.'havo lately *ben made publio relating to the experience of" insurance companies with employers' : liability 'business in, tho United Kingdom during! 1908. Thirtyfonr,tariff companies and 18 non-tariff companies are included, and these may be accepted as. representative: of, the business, as awholc... The. total premiums earned by tho tariff;:companies amount■ to : £2,030,230, .credit , being .taken into account of.reserves for unexpired...risks af the .close, of the previous year, and 'the corresponding; reserves;for; the current yoar being deducted-' from premiums -actually. received.- Claims amount."to- £1;256,634,■ being ■ 61.90 > per' cent; of. premiums earned, while -commissions and -i other .'expenses are given as £732,747,' or J6.lolppr cent. of. , the.premiums. The balance.on trading account,: after deducting about 40 per cent." on. account."of , unexpircd risks, is. £40,799, or exactly' 2 .per cent.' j In the' case'. ofv,the non-tariff: companies ..the. result is less favourable:to the; offices. The,-total premiums earned amount to £253,176, and claims.are given a5;£166,129, or 65.61 per cent.: of the' premiums. earned. ■ Commissions and, other expenses amount to £92,575, 0r.36.57 per.cent, of tile 1 premiums. After deducting about 36percent. ■', on account of unexpired .risks tliero.vis an adverse balance , on trading account,of, £5528, or .2.18 per;cent. Taking, all .companies . into account, thereis a'balanco on trading account of 1.55, per cent, 'after; making the allowances referred:tp oh'account of;.unexpired risks., In Tieiv of these;, figures, it seoins probable that a stiffening' of rates in .some , important.■■departments' 'of .'.-em; ■,ployers\.liability, businesses likely',.to' bo; effected. , '■■■'■:'■:-■■. ■■'■■.■■/''•"'■'■ '.■.'■•"•";. - v ■.'.'.■■ '.

■; .;'. ■,-/PEILDING;MABKET BEPORT;; , ; , ;; ; : '•• Mossrs.. A.'.H. Atkinaon;-and^Oo!, Ltd.,' of; Feilding,:report:aVsmall, yarding and.bet-. ter valuefor pigs.af, their sale last.,>veek, 'several lines/selling,,at- prices ahead of owners' expectations..^Poultry,:considering quality ', Oiforiug.'.'eold: , .well—no':.' finished birds'were-penned:.'.We quote :—Stores, 135., : 14s.V 165., ,16a., t0.175: •6d.;::po'rkers,.tp ,235. 6d.; aged trap mare, , £5 10s.; ; . aged .plough horses, £16; throe-year.njare.i£s 10a.; : har'ness, .£3. "Poultry :(at each).—Hens, 15.,: Is.' '3d.,-Is. 6d.,.:t0 -Is. Bd.; ,pullets, : to , 25.; "small ■ cockerels,. Is. 3d..- to/le.-sa.;> ducks, Iβ., Is. Zd,,'15.:4d.,M8.'9d., to , 2s. j. chicks; 6d.:ito 'Bd.; .turkeys,' 35i3d., 55.".9 d. '■ Produce.—Bran, 4s. 6d. to-ss'.;': pollard,' r '?s:; maize,* ss. per bushel; wheat, 55.; oats, • Is. 7d.j wheat .and :.tareß,Vlos.:"3d: per-'sack; l barloy and tares',. 8b;; chaff,' 3s. ii.) plums, ls.-.6d: to•'!«; 3d;; ; pears;,2b.: to!2s. 9d.; oucumbers, Iβ. 6d.; tolnatpeß.ls. '3d. to Is. 9d.; peaches.':3s. 3d.; apples,' .9d.;ifac tory bacon,'6Jd.;,hams, 7a.; .potatoes,■ sa. ■ v.,. ; : : ,;; ' ':■/££- y^'S\; : :p: ';

■'■... : GEIIMAN SHIPPING /BESULTS. :;:. ■: Shareholders':'-.in .' twehty-threo;'. German shipping .companies last., year, on the .whole, per' cent. , ,on-.their' investments, which cpmparcs .with an aver-: ago of 5.35 per : cent. : in ithe : previouß year, and 8.14 .per icont.vin"l9o7;, -The.high divi- , denda' paid ; in: 1907 :were;laigoly.-due; to .the', profits, mado by' tho .German..companies during tho EusscnlapaneEe war- in chi/tering •:., or;-: selling".•>boats'' ; to /.'.the.vßu'sia* ,Governmerit,' : British','ship6vmers heinu.excluded ' owing, -to, .the : Foreign ; Enlistment. A.ct:' Last': year:'the'failure ef'tlw emigrant, traffic' to.the: TJnited:,States,"iin con ; '. seuuencb of, the 'financial crisis there,;had a. iie'riousr.eff ect ; in! the receipts ,, of ;"iha' Uamburg-American'.S'anil' , . NorddbutscherLloyd Companies, which between them own. about:, 1,680,323 ..tone, of shipping, .The, re,-. . suits' f or. : the ; . prosont/ year.■ wifl,' it '■ is' b>, I lieved,. show' α-vastjmprovement; on'.-those-for •last , year, asd it -is-anticipated that' most' of the companies 'will-, pay., 'Id ;the past; when r .British- companies -have boen'-unable ends meet,', German

'steamship, companies 'have -been , able ti ; l secure , ., a. profit,-: owing '.to ithe absence-of, .restrictions : in', loading,,■ etc.', and te ;thelower -wages' paid, J. but the -German.cargp-l boat owners last year /were no more !{or-' ttmate. -than'.'their British .confreres: 'in" their efforts; to' secure.' a profit. : ;y.'....;; ■'} .5! '■K : .: : -:v;^^:i;;;NOTEs.;--.V'-^:. ; '; : .. V : y>. '.-'. The annual: report ;of tneiQueenslandMeat -Export, and Agency "Company, forthe' year .ended. November 30-showfl ( anet/proflt; of £19,853, as against £7913 in'l9oß,'and a loss of £21,446 in' 1907.' ; '.' A 'dividend 'of 6' per:cent; and a bonus of 2 per cent.'was.' declared,"leaving £2552-to' be carried for--ward. , -'."":-".' : ■■ :'•'}.■■■'■•: -\ :'■'■'■■ ', '..'O.''"' l ' : " . .. From time tof" time a good deal is'.made ■out:'of -the: fact- , that over -.900,000 people arerreceiving.- relief: from' the public, rates of the' United, Kingdom.:,: But- that-total' includes -235,000 .children; .343,000..- women, , 113.000 insane; besides , -aged; men' past' 'work.-,i But it only' included H',400 , ■ m'en.-.'in' health'capable, of ..work, i .. ■; ■.■'■. '~/;. The Sydney- Meat Freezing . Company,' Ltd., -lost"year.' handled 918,534 sheep aad 1<55. cattle.;" ~',:• : ! -.:, ....; ■ "... ; ; The number •'. of patents, including Provisional Protection, ■. applied for., at'•: tho ; British ,Patent. Office, lost year, an "increase of '2009 over, the corresponding number for 1908.' ; : :■-..• ~ :.;:•',/;., .' . .Customs revenue ■ collected -at Wellington yesterday amounted t0,£3429 12s. 2d.,.!. , ; : . .;■•' EEPOEI \ '.. . Messrs. , Lacry. and 'Co., Wellington, report wholesale prices mling on the; market:—Wheat,-. fowl-A5. , :'5d.....t0 4s. 9d.j feed oats, 2s. 2d. to 2s. 6d.; dun oats, 2s. 4d. to 2s: 6d.; seed oats,' 25.. 4d. to 2s. Bd.; algcrian oats,. 2s. 4d. to 2s.' 6d.; maize, 33. lid. to 4s. ld.icrushedmalt,7s.;fowlbarley, 2s. 4d. to 2s. 6d.;" Cape barley, eced: 2s. 6d. to- 25.. 9d.;. flour, -New Zealand £11 ss. to £11 10s., Australian £11 15b. to £12bran, ;£4 to £4 105.;. , pearl barley, 155.; peas, Prussian . blue,:, 6s.' 3d.' to 'sa, 6d.; fowl peas, 4s.;.'."split, , £17. 10s.';,bone-, dust, £5; 155.; superphosphates, £5 to £5 '55.; pollard, £5'58.t0v£6 10s.;' basic Blac £4 10s.; , chaff'.(oatensbeaf), £4 to £4 10s.oatmeal, £11 to. £11 . 10s.; .potatoes, tttblo, £3 to £6. ton; ohioris', : ss. cwt.; molasses fodder, £5; bacon "(fac tory), sides 63d., hams ' 8d.,. rolls 7Jd.; butter, prime 'bulk, 9d. ■. Poultry. Hcilß, 3a.; ducks; 3s. 6d. to 4s. 6d.: pcrpair;: turkeys, gobblere, 18s. to 20b., hens 10s. to 145.;" fresh eggs, Is. 6d. ! to Is. Bd. dozencheese, sd. to 53d. per lb., loaf 6Jd.Aliaroa machine-dressed cocksfoot, 6d. to 7d. per lb.; farmers' dressed cocksfoot. 4d. to" sd. per lb.; ryegrass, 3s. 6d. to 4s. 6d: per bushel; , Italian ryograsß,.-3s. 6d; to 4s. 6d. per busbel; white clover, 70s. to 755. per cwt. ' ">

PAMERSTON NOETH MARKET EBPORT. Mr. Harry Palmer veportß.fair entries on Saturday of both pigs and poultry. Although prices arc-not high,, still pigs rare Belling . more Freely, ■ and the outlook: in this. department is more prpmisiiiß. Poultry also found a keener market, although the quality offered is nothing like first' olnes.i; Fruit still finds ready .purchasers, and prices show improvement on all. lines except: tomatoes, which iire cominc forward in heavy supplies. Flums and nec'.".rincs are now practically finished, and the end of peaches ie now ia Eight, Pota,.

toos are patchy,', the quantity of lilightaffected potatoes having a very disheartening 'effect on the market: There: is a Urn doinand for a good, sound, and wellpicked sample. AVe quote:■■Woanern, 55., 6s. 6d.. 6s.j 6s. 6d.; slips, 75., 7s. 6d., Bs.; stores, 12s. .-3d., 12sV 6d.; 18s. 3d.; -porkers, 17s. 6d., 18s. 6d., 205.; hens, 2s. to 2s. 9d.j pullets, 3s. 6d. to 6s.' 6d.; good cockerels, 3e. 6d to 4s. Id.; medium quality, 2s. to-35.; chicks, Is. 3d: to. 25.; pigeons, Is. pair; ducks and ducklings, 35..35. 6d.,. 45.;. Reese, 2s.' to 2s. 6d: each; peaches, 3s. 4s:.- 55., crates Bs.; nectarines, 4s. 6d;; pears, Is.' 6i., 25., 2s. fid., 3s. 6d.; tomatoes, Is., Is. 3d./ Is. 6d., 25., 2s. 3d., 2s. 6d.; apples, Is., Is. 3d., Is. 6d., 25., 2s. 6d.; damsons. 2s. to 2s. 6d.; good seedling plums, 2s. to 25.. 6d.;' greengages, 3a. 6d.; yeUowgagcs, 2s. 6i1.. to 3s. 6d.; Botans, 2s: to 2s. 6d.; cucumbers, Iβ. to Is. 6d. case; local-grown lemons. Is., doz.; rhubarb,: 4s. doz.;.-pie melons, , Is. each; pumpkins, Is. to Is. 3d. each; marrows, 4s. sack; potatoes, • blight ' affected, 3s. to 45..6 d. cwt.; medium quality, ss. to 65.; prime, 6s. to 7s. cwt.; onions, Id. lb.; chaff, 2s. to 3s. 6d., 6ack; oats, 10s. 6d:; barley, 10s.; pollard, 95.; pig meal. 7s. 6d:-, totara posts, Is. to Is. 3d. each, £4 10s.; per 100. Furniture and sundries find ready sale. The clearing sale on account Vof Mr. Smith was well attended, with good results., .-...'• . .:■ . .'.-■■

COLONIAL AND OTHER PBODtJCE. : . ;, By Telegraph—Press Association—Copyrieht' ■". '.'■.'. London,' February 20. Wheat—Two cargoes of- Australian .'sold at 395. 9d. and 3?s. respectively, and 11,000quarters of February, shipment at 39a. 3d. The wheat and flour afioatfor the United Kingdom i5'3;305,000 quarters, for the Continent 1,700,000 quarters, Atlantio shipments 133,000 quarters. ■ The . total. shinments 'to Europe amounted : to 1.340.HC0 quarters, including 332,000 from.the Argentine: and > Uruguay. : ..:■.'■• Hemp.—The hemp market is dull, Janu-ary-March shipment sold , at £26. Copra.—The copra market ia firm. There is more business doing. ■■■'• South Sea, in ba?s. £23 15e. .: • . ■'..'.. ;. , .: . Cotton is quoted at 7.79 d. ■ per lb. - - i ': THE /METAL' MAEKETS/... •/ Antimony, £8. ' . . . .:' Copper, on spot, ! '£s9 7s. 6d.; three months, £60 3s. ; 9d.;.electrolytic, £62;55. ■ Tin.-On. spot, £151 .15s:; three montha, £160 155.... ■> -:. ■;.■;.-. .'-..- :■.-'.. '■~.:•.■. .-'., HIGH COMMISSrONEE'S CABLE. ■' ; The Commerce and Tourists' Division. of the. Department of -Agriculture '■ has... received the.' following cablegram from, tho High Commissioner, London, dated February. 19, 1910:- ;':.:,' ../•■;.V'.\v:" ' -.V". ,'.•■'"

The mutton market is firm, .but-demand only moderate. .Stocks on hand.are light. extremely scarce, and cannot be quoted; North Island is' averaging, 3Sd.: per lb. Eiver : Plate mutton is in small -'supply 'and firmly, held.at 31d.. : Aus:; tralian is freely offered, at 3Jd.'' ■■•'.:.-.' ■';j i The lamb market:is.steady, arid therd,,is a good demand for prime quality. The average price of new season's Canterbury lamb is 53d., nominal.' A large proportion of . secondiquality lamb has arrived. ;re-' oently..' -'Prices' for .New-" Zealand . lamb, other than Canterbury', , range from:sJd. to 4id. Australian ;is: firmer at 4d. ■'~....,.

. Tho ; beef .market is 'quiet . but steady. Supplies of:A.merican chilled beef are largo. Prices aro unchanged. : (Last , week's quo-, tations: New. Zealand hinds 31d:,. fores 2?d.) The 'butter. market is a shade weaker,' but there is more demand at prceent quotations.', The price .'of-, choicest New -Zealand butter- is 116s. per-cwt., Danish 1255., Australiau ;and; Argentine. 115b.,..The shipments of butfer and cheese per s.s. Athenio arrived in, good condition: ■'■■".. '>

The. cheese market is. firm. The- , prico of. finest New .Zealand white is ■ 60s. per cwt., and .'coloured 595:. ! Canadian is making.: 2s. per cwt.'more...' : ... ', . ■ : : Tlio hemp market is quiot, with.a tendency iu favour.ofbuyers'.-.Prices on sppi: New Zealand good fair.grade £26 10s. : per ton,'fair grade,.£2s:, 10s., Manila : fair current £26. February-April shipment: Good fair '£25., 155., fair ■ £25, Manila ". £24 ',10s. Manila output for the. week .was. 20,000 bales. ~ There, has. been . no. alteration in' tho cocksfoot seed market since last week (New Zealand;.74s.): ...'-. : . ; , . .. :. .The oats. market - continues dull; -Now' Zealand. sparrowbills ox granary on spot per.quarter 3841bi, 195.; New Zealand Danish per 3201b., 175. ; .6d.: . ..:,; ;:,.,,.^ J - Peas', were steady at. last quotations. (Partridge", per 5041b!,' 655.'9' d. ) ,: ".-■'■:■•' .:'■ . Beans arc firm with improved: demand, at 40s:. 6di: per. 5041b., :f.a.q. . '.■';. ... ~ .•■, The , kauri; , gum market is: firm,, but de-. maud only moderate at last' quotations,'. '. "J ' Wool. tops i are! firm at the following .c'ur:rcnt -Braflford quotations:—36's low. cross--breds, :14d.; v 4o's'l6w::crosEbiedß. 15W.; 44's medium- cross'brede,i''.l7s.",.' 50's halfbreds, ZOld.; '56'B''qttarterbreds, 23d.; -60'b merinos,! 27d., : ■ ~ .■„•. .'■,.;'; .■:•.. , % , .;■-., ,: ■ : ; . ..,....■,.,.,' 'On .Thursday-Messrs.'Abraham and Williams, Limited, will hold.a sale ofitho'.Te Bangitumau'. , stock.' , ' The property, , whicn 'was , '■ formerly -■■ owned by ■.: Mr. James Stuclsey, has'been-Bold by-Mri-A; -J: StoneWiffg. .Some. 96 hoad .of Hereford cattle' and 4000- Eomney and- Lincoln :sheep v/iU be disposed.-: of absolutely ..without reserve. Particulars are 'advertised, •.•■'• -'•■''. '.■■■<■>•'