COMMERCIAL ITEMS.

Dominion, Volume 3, Issue 770, 19 March 1910, Page 8

COMMERCIAL ITEMS.

■' ' : INVESTMENT SHAEES. ■ ■No transactions in ' investment shares took place . yesterday. National Bank,, buyers £6. 45,; - N.Z. ;and' Elver Plate, b°ye" £1 16s 6d.i .Wellington'lnvestment, lmyers'lls., sellers Us. 4d.;. We ington Trust and-Loan,-sellers £7Js.; Wellington Gas, new issue, sellers £2 175,6 d. premium; Wellington Meat Export, £2 12s. 6dL. paid, sellers ? £2 '165.; Leyland-O'Brien Timber, seers £1 Ss.VTaranaki.Petroleum, buyers. Bs.; sellers 95.; andjflCombs, Ltd., buyers £4 18s. .'■ • ■ ■ ...;.'■■" ~'".'.' LLOYD'S AND" THE ELECTIONS. , •The general election in Great Britain provides Lloyd's underwriters with profitable business. Both before and during the progress of the polling there was an increasing demand for contingency policies, and speculation was active as to the changes in political power. The members of Lloyds, the majority of whom.aro supposed to. bold.Conservative -views, were dubious at the outset that the Unionists would win the election.' Insurances were issued early in January at; 40 to 45 guineas to pay 100 per cent, in the. event of ■ she Unionist party succeeding to office. This transaction, which, of course, resulted in a net profit to'underwriters, was partially, though not' entirely, counterbalanced by other policies, which-were issued to pay a claim if the Liberals were returned to power. For these insurances, which were issued almost immediately tol-lowing-the others referred to, were quoted at'7s to 80 per ,cent. Other .insurances were: effected covering the risk of the Liberal majority exceeding certain figures. Thus 40 guineas per cent, was paid for every £100 to pay a loss in the event of the combined majority of Liberal, Lab-, our and Nationalist. members reaching 150. Againet this successful speculation on the part of insurers must be placed other transactions covering the sumo risk placed . at 80 guineas against the majority, of 100, and 95 per cent, to pay a claim m case of there being no majority of the triple group at all. Aβ a general rule underwriters come out very well in these sporting risks, and- these election policies appelr to have also left them with .a good marginal profit, especially when it is recollected that they made a clear gain of 25 guineas per cent, a few months ago on 111 their policies covering the risk of tho dissolution of Parliament before the end of last year.

WOBLD'S Te'aDE STATISTICS. ' The imports and exports of principal countries'of the world for W & nressed in sterling, and compared with the Ugures for 1908,. are extremely interesting. With respect to imports the comparison i 9 as unaer:- m _ Treat Britain ~;.... £2<,740,517 ' 592,953,487 Geraanj ' Z..'.".Z. 410680000 383,200,000 France ...ZZ..... 238 904 720 225,620,5^0 inifria ••••••■ 102.470,800 " 90,200,000 Helirium -•• 127,256,520 118,116,560 Italy . ... 123,160,000 116,520,000 Srf'f. 34,454,165 ■ 34,549,691 United States' " ' ... 295,104,041 223,274,816 Japan 1...........'...- 37.821,567 The United States show an increase of nearly 72 millions Sterling, which is an extraordinary gain, and is accounted for by the fact that in 1908 the imports were re'stricted as a result of the. financial crisis of 1907. The increase shown by the United Kingdom is £31,787,000, by Germany £27,480,000, and by France £13,284,000. The exports compare as under;— 1909. 1908. Great Britain ;.„. A78.379.M4 377,103,844 Inrmanv 334,040,000 319,940,000 S"nce 220,465,580 202.029,000 Austria 88,000,000 85,704,000 Beldum 97,372,000 90,871,260 Ttnlv 73,360,000 69,180,000 i l _ a 'f n 32,740,000 ' 32,025,000 United States" 345,476,625 .350,567.089 Japan • ••• 39,264,600 43,625,746 Germany and Franco show substantial increases, especially France. The United States exports were less by £5,090,464, which is the heaviest decrease exhibited by any country. In both imports and exports Great Britain heads the list, and one looke in vain for the decadence which is the thomo of some reformers. CANADIAN FIGURES. At tho annual meeting of shareholders of the Canadian Dank of Commerce, held at Toronto in January, the president gave some highly interesting figures to illustrate the prosperity of Canada and the favourable prospects ahead. ' He stated that the total bank clearings of tho fourte»n Canadian clearing-houses for 1909 aggregated £1,040,800,000, againßt £828,400,000 in 1908—a gain of 25 per cent, over 1908, and of 20 per cent, over the previous high record of 1907. Tho total value of the field crops of Canada ot local market prices is placed by the Census Department at £106 598 400, gathered from 30,065,556 acres, as compared with £86,506,800 gathered from 27,505,663 acres in the previous year. In some districts steady improvement in farming io clearly evident. The farmer finds his profits more and more in dairying the raising of cattle; horses, hogs, fruit, vegetables for canning, poultry, etc. Notwithstanding improved facilities, ffrain exports were smaller than in 1907 and 1908 being 27,959,000 bushels against an averaeo for flve years of 28.143,000 bushels, The flour shipments were, hawere, >-»ar.

In manufacturing the conditions are very satisfactory. The mining busmesß of Ontario centres at Oobolt, and hero the production is tho largest on record. The climate of the outpnt for 1909 is £2,400,000. while in 1904 it amounted to £27,243.

TEAMWAY CAPITAL AND TEAPPIC.' A White Paper issued recently contains a return of street and road tramways and light railways in the United Kingdom authorised by the Act, or Order, down to December 31, 1908, in respect of companies, and March 31, 1909, in. respect of local authorities. The return shows that sinco 1878. the route length of lino open for traffic had increased from 269 miles to 25-6 miles; tho canitol expenditure from £4 207 350 to £71,023,239; the number of passengers carried . from 146,000,000 to 2.660,000,000. and the net receipts from £230,955 to £4,595,779. The number of pas-son-ors carried in tho year was equal to about sixty times the estimated population of the United Kingdom. Of the total of 1680 miles owned by ..local authorities, 1490 miles are worked by those authorities, and the remaining 190 miles by leasing companies. Of tho 298 undertakings, 176 belong to local authorities, and 122 to companies or other parties. Tho net profits of local authorities who work tramy.ays undertakings amounted to £3.268,514, on tho year's traffic, out of which they have SSSiy'Sr anl a %|' «? rates, while carrying £680,202 to resene .and renewal funds. ■ Customs revenue collected at Wellington yesterday amounted to £1832 9s. lid. FEUIT AND PBODTTOE EEPOET. ,■ | The Now Zealand Fruit and Produce Co., Ltd., report for tho week ending March 18 aa follows:-Tho arrival, of large Quantities of-cooking apples have weakened the market for that class of fruit: also heavy supplies of pears from Eouth. have, caused all-but the best varieties to weaken in price. The potato market.is still nrm, and a much better demand for vegetables was shown at the end of the week. The following, prices will enable growers to have a, good idea of values ruling here.. We. quote:-Potatoes,. ss. to. 6a. 3d. cwt... onions, 4s. to 4s. 6d. cwt.; swedes, 2s. 6d. cwt.; turnips. 3s. sack; carrots,, 3s. to ss. sack; parsnips,- 4s. 6d. to"6s. sack; beetroot, 2s. 6d. to 3s. fd. sack; cabbage. Is. 6d. to 6s. sack; cauliflower, 6s. to 9s. sack; peas, 4s. to Bs. 6d. sack; marrows, Is. to 2s. saek; tomatoes, Is. 3d. to 2s. case; beans, French 2s. to 3s. sack; beans, 8., 2s. to 3b. 6d. sack; lettuce, Is. to 3s. case; cucumbers. 3s. to-ss. 6d. case; apples (cooking), 3s. 6d. to 4s. 3d.; apples, (dessert), sa. to Bs.; plums '(cooking). 2s. 6d. to 35.; peara< (cooking), 4s. to 55.; pears (dessert), Bs. to 10s.; grapes, 7d to Bd. per lb.; blackberries, 13d. to 2d. per lb.; peaches (cooking), 2s. to 35.; peaches (dessert), 3s. to 3s. 9d.; oranges 'California), 7s. to 10s.; oranges (Island), 7s to Bs. 6d.; bananas (cases), 7s. 3d. to.9s. 6d • bananas (bunch), 3s. 6d. to 55.; lemons (Messina), lls. 6d. (150); pinea 7s. 9d. to IBs.; passion fruit, 6s. to 6s. 9d. box; eggs. Is 4d. to Is. sd. (good, demand); chaff, £4 to £5; ducks, 4s. 6d. to ss. per pair; bran, 9s. per sa«k; wheat, 4s. Bd. .per bushel; hens, 3s. to 3s. 6d. per' pair; peanuts (Japanese), 20s. 6d. per sack. . . ..

WELLINGTON MAEKET EEPOET. The New Zealand Farmers' Co-operative Distributing Company, Ltd., report as follows for the . week:—Largo, quantities of pears and apples are now arriving, and prices have declined slightly. Peaches are still in full supply, but prime lines aro realising slightly better values. Tomatoes continue in heavy supply at slightly better prices for all lines'. \ The egg market is very weak. Walnuts aro being freely in-, quired for, and wo advise shipments immediately. Marrows and beans are in very heavy supply, and the market is practically glutted. Potatoes, best Hutt, special brand, £7 10s.; medium. £4 10s. to £5 10a.; others, £3 per.ton; Cabbage, choice, 2s. 6d.; ordinary, Is. to Is. 6d. per sack. peas, 3d. per peck. Carrots, Hutt, Bd. dozen. Turnips, - white, 4d. dozen. Swedes, ■ Is. 9d. per- sack, market glutted. Pumpkins, 2s. 6d. to 3s. sack. Lettuce, choice, Iβ. 6d.; fair, 6d. to Is. per case. Spinach, best, 2s. 6d. per case. ..French beans, Is. per half sack. Cucumbers, outtido grown, 3s. per ibanano, caee. Broad beans, Id. per lb. : Spring onions, Bd. to 9d; dozen bundles. Tomatoes, round, 2s. 6d. to 3b.; Hutt; Is. 6d. to 25.; Nelson, Is. 6d. per half case. ■ Ehubarb, ,-?d. dozen bundles.- : Apples,' cookers,. large, , 3s. 6d. to, 45.; small, 3s. ;caEC; ■ Cox's orange,. : 75.. 6d.; dessert,"well'coloured', ss'. -Sid. , : others, 4s. per case. ; ' Pears," dessert,' 7s.;.'cooKcrs, , large, 4s. 6d.; .'small,. 3s: 6d. per case'.' Poaches, choice dessert. 35.; medium, 25.; others. Is. 6d. half case. Grapes, best Hutt, 10d.; Nelson, Bd. per !b. Capo gooseberries, 3d. per lb. Eadieh, 4d. dozen bundles. Butter, best separator, printed wrappors. 9d.; separator, bulk. Bid. to 9d.; dairy pats, .'Bidi' to' -9d. : •■ Cheese,, best: factory medium's;. s}dr to 5Jd. per lb.; loaf, .6sd.- lb.' Dressed pork, 70's to 90!s, 3id..; •90'b' to 100's, '3dv;. baconersV 3d;; "choppers' (heavy), 2d. Eggs, Is. «. to Is. sd. per dozen. Bacon, factory sides, 6Jd.; rolls, 7Jd.; hams, 7d. per.lb. .Honey, 'M's, 4d._per lb. Beeswax, lei' 4d." to Is.. 6d. per lb. Fungus", keeh demand at 6sd. per lb. Walnuts, 'sid. -Tallow,.tins, 225. .cvrt.-.'Onions. globes, £4 10s. per .ton. r Poultry,;coclserels,ss. 6d. for good birds; small,'3s; , . 6d.; table

roosters,- 45.; table hens. 3s. 6d. to 4«.; small, 2s. 6d. to os.; ducks, large, 65.; small, os. 6d. to 4s. per pair; turltey gobblers, 9d. per lb.; hens, Bd. per lb. live weight. Maize. 4s. per bushel. Wheat, 4s. 3d. per bushel. Barley (feed), 3s. to 3s. 6d. per bushel; Cape, 3s. to 3b. 6d. per bushel. Horse beans. 4s. bushel. Partridge peas, 4s. 6d. to ss. per bushel. Prussiau blue peas, ss. 6d. per bushel. Barley meal, special quality, £5 10s. per ton. Sharps, £5 10s. per ton. Pollard, £5 10s. per ton. Bran, £4 to £4 10a. per toii. . Chaff,. prime oatonsheaf, £4 to £4 10s. per ton. Hay, prime, £3 153. to £4 per ton. Straw, wheaten, £2 ss. per 'ton; oaten, £2 2s. 6d. per ton. Linseed oil cake, genuine, £13 per ton. Oats, feed, 2s. 3d. to 2?. 7d. per bushel; seed, Gartons, Duns, 2s. 9d. per bushel; crushed, 2s. 7d. per bushel. Jlaeh-

ine-dressed cocksfoot,. 6>d. to 7d. per lb. Farmers' dressed cocksfoot. 6d. per lb. Per. ryegrass, 4a. 6il. to 5?. per bushel. Italian ryegrass, 4s. 3d. to 4s. 9d. per bushel. LONDON.WOOL SALES. KEEN COMPETITION , . u , By Telegraph—Press Association—Copyright London, March 17. At the wool auction, there was spirited sale and keen competition at full AMERICAN STEEL TRUST. By Telegraph—Press Association—Copyright New York, March 17. The American Steel Trust reports an increase of £8,000,000 in the net earnings for 1909 compared with those for 1908. [The net earnings of the United States Steel Corporation were £26,311,800 in 1909, as against £18,365,000 in 1908, and £324.96,800 in 1907. The dividend paid for last year ia 4 per cent, and £2,000,000 has been set asido for new construction, as against £11,4C0,0C0 in 1907, and nothing in 1908. The surplus carried forward is £3,065,400, as against £14,162,000 a year ago. The unfilled orders at the cloße of 1%9 amounted to 5327,500 tons, as against 3,604,000 tons at the closo of 1908, and 4,644,000 tons at the end of 1907-1 i ' BANK DISCOUNT BATE. AN ADVANCE. ■.'■ By Telegraph—Press Association—Copyright. London,- March 17. The Bank of England rate of discount, which was reduced on February 10 from 35 to 3 per cent., was on March 17 advanced to 4 per cent. BILVEK. London, March 17. • Bar silver is quoted at 2i 11-16 d. per ounce standard. ■• THE WATBAEAPA SHOW CHEESE. . BEPOET TO HAND. The report' on the cheese exhibited at the Wairarapa- East Coast P. and A. Society's show in October last has come to hand, and places Dalefield Factory first, Belvedere second, .and Taratahi third. At the. show eight factories were bracketed first. The report is vague as to the other exhibits, and the National Dairy Association has promised to produce a more detailed statement, and forward same as soon as' possible. ■

OANTEEBTJEY GEAIN ( MABKET. (by TelecraDn.—Press Association.! Chrlstchurch, March 18. The * Ohristchurch . wheat market is weaker, Bales now taking place'on'a lower basis than was the case last week. This, is particularly the case iu regard to damaged grain. Some inquiries have come to hand from London, but uncertainty regarding quality prevents definite offers being made. For a parcel that was shipped early, 375. 6d. per quarter was given. There is a fair quantity of wheat still changing hands, but only choice lots bring 3s. Bd. at country stations, good nulling ranging from 3s. 6d. -to 3s. 7d.; second-class milling, 3s. to 3a..3d.; damaged, 2s. 9d. to 3a. For a line of 500 sacks of., prime pearl and for another lino of prime Tuscan, 3s. Bd. was paid. Other sales reported are:—lOUU bushels'-'each of Hunters and Tuscan, at 3s. 3d.; and 1000 bushels of Tuscan, at .35., ■at' country stations. Oats are still very llrm, , though at present prices no export business can bo done. For extra good quality Is. 10d. would probably be paid, but most of the business is being Is. Bd. to Is. 3d. for short oats and extra good duns. A line of "M 0 bushels cartons' was taken at Is. Bd. at a 2}d. station, and 900 bushels of sparrowbills at the same figure at a handy etation, the latter being a good deal discoloured Gartons wero generally worth Is. Bd. to Is. 9d, duns lsT 7d. to Is. Bd., and Danish Is. M: to is: 7d.- 'Oatsheaf chafT w< B upply,and firmer in price. Cocksfoot iremains without change, and, bo far, Tory little export business haa been done ..to London. ■ . ■ . ■