COMMERCIAL ITEMS.

Dominion, Volume 3, Issue 840, 11 June 1910, Page 8

COMMERCIAL ITEMS.

INVESTMENT SHARES. Sales of Wellington Gas, £6 15s. paid, at £13 6s. 6d., and Christchurch Meat, at £13, were recorded yesterday. Baoik of Australasia, buyers £100 155.; National Banlt, buyers £5 18s. 6d.; Equitable Building, buyers £9 7a. 6d.; Metropolitan Building, buyers £12; Wellington Investment, buyers lis. 3d.; Wellington Trust and Loan, buyers £7 55.; Wellington Deposit, buyers Bs. 2d.; National. Mortgage, buyers £3 Is., sellers £3 65.; New Zealand Loan and Mercantile, sellers 12s. 9d.; New Zealand and Hivcr Plate, buyers £2; Napier Gas, £10 paid, buyers £22 10s.; £5 paid, buyers £12 55., sellers £12 10s.; Palmerston North Gas, buyers £7 155.: Wellington Gas. £10 paid. buyers £18; £6 15s. paid, buyers £13 7s. 6d.; new issue, £2 10s. premium; Standard Insurance, buyers £1' ,45.; Christchurch Meat, buyers £12 17s. 6d.; Gear Meat, £4 paid, buyers £10;. £1 paid, buyers £2 135.; Meat Export, £5 paid, buyers £6; £4 paid, buyers £5; £2 12s. 6d. paid, buyers £2 155., sellers £3; Wellington Woollen, preference, buyers £2 9s„ sellers £2 10s.; Hilturangi Coal, buyers 19s. 6d.; .Taupiri Coal, buyers 195.; Wcstport Coal, buyers £6 7s. 6d.; D.T.C., preference, buyers £1 25.; LeylandO'Brien Timber, buyers £1 ,4s. 9d.; Manning and-Co., sellers £4 Is.; New Zealand Drug, buyers £2 7s. 6d.; Taranalu Petroleum, buyers 125.; Taringaniutu Tdtara Sawmills, buyers £1 65.; Ward and Co., buyers £4 16s. 6d. NORTHERN ASSURANCE. The report of the Northern Assurance* Company, Ltd., for. 1909, states that the balance of profit and loss account is £221,789. Of this there has been appropriated for "shareholders' life bonus" ol 6d. per share for the year 1910, £75C0, leaving to bo dealt with £214,289. The directors propose to add to staff pension fund £15,000, to pay a further dividend on account of the year' 1909 of 4s. per share, and (in addition to the fifth instalment, now due, of 6d. per share of the "shareholders' life bonus") a bonus of Is. per share, on account of the year 1909, leaving to be carried forward £124,289. YORKSHIRE INSURANCE. Tho report of the Yorkshire Insurance Company for the past year states that the lire department net premium income, £276,259, as against £263,901. .£40,175- has been carried to profit and loss, and the reserve for unexpired liability has been increased to £110,504. In the employers' liability account premium income amounted to £59,176, and is £10,582 less than in 1908, due to the decision to avoid business in certain classes which on past experience has proved unsatisfactory. General account, premium income. £122,485; after increasing the reserve for unexpired liability to .£51,602, £6100 is carried to profit and loss. Tile profit and loss account includes £3COO, onc-iifth proportion of the shareholders' profits declared in the lite department; it also includes a sum of £13,400 written off securities as depreciation, and after payment of the dividend and other charges shows a credit balance of £51,578. SUEZ CANAL DUES. As the result of persistent agitation on the part of .shipowners, the directors of the Sues Canal Company have had for some tinie the revision of the dues under consideration, and at a meeting of. tho board on May 9 a proposal to reduce the impost by 50 rents was brought forward. Although the Ult-cclora ha\c full power u< adopt such a measure without ratification by the shareholders, it ia believed that.

in view of further negotiations with the Egyptian (Jovcrumcnt on the subject of a renewal' of the concession the matter was deferred for discussion at the annual meeting. Tills reduction will bo of some relief to vcsssls using the Suez route. It is, however, a long wax oil' the 5 franc minimum which was promised u> snipowners by M. no Lesscps in 1883. THE MONEY MAEKET. Tho Bank of England discount rate was, oil Thursday last, reduced a further h per cent., and now stands at 3 per cent. Tho movements In the rate so far this year arc as under:— Per cent. January 1 4i January 20 5i February 10 3 March li 1 June 2 3* June 9. ..' 3 The rate is now down to its normal level, and should stand at 3 per cent., or possibly at 2J per cent., until towards (he end of September ur early in October,..whcii tho autumn demands disturb ihc money market. The American situation, however, is somewhat dangerous, and may upset all calculations. . THE ItUBBE.iI BOOM. Tho boom in rubber lias created a revolution in the financial situation of Brazil, according to "Lo Brazil." an organ of Brazilian interests published in Paris. The dead season in tho South American Republic so far as exports are concerned is, in April and June. Little produce is sent out, and bills drawn on foreign cities uro tew. Tile limitation of collee exports prior to July also tends to aggravate and prolong the period of stagnation, and would further depress exchange if this had not been provided against by establishing a considerable gold reserve in the form of Conversion i'und in .London. In this way the Brazilian exporters provided themselves with a sort of cover or fund on which tu draw during the dull season, thereby putting a stop lo execssivo fluctuations of exchange. The steadying effect of this system has been providentially assisted, tho journal continues, by the boom in rubber, which hai shown iiselt in the withdrawal of gold from the Bank of England to the amount of £1.000,000 in two weeks for Brazil. This demand for gold to pay Tor Brazilian rubber is partly the reason why increase in the Bank rate from 4 to 5 per cent, has been expected for the past two weckd. Brazil, not having an urgent need for gold, consented to modify or postpone her demand for the yellow metal, but as soon as the export of rubber be(rills to dwindle, tliat of coffee will increase. The coffee season, which begins on July 1, will involve a further largo demand for gold, and the reserve in tho Conversion Fund, which now stands at £14 000,000, will vcrv probably reach the limit of £20,000,000 fixed by tho law under which the fund was created in 1906. with a view to stopping the issue of gold certificates ("billcts-or") and raising the rale of exchange, or, in other words, the adoption of a definite system of monetary conversion. The next rubber crop will represent nt least £40,000,000 inasmuch as an increased output from.Amazonia must be expected. The boom is by no means confined to London Kiul l'siris, hut ha* lumen a eioat many heads in Brazil itself. The cost o! labour has temporarily gone up to such an' extent as to handicap other industries. Bock labourers, artisans, navvies, and even tramway conductors are crazy to become "seringueros" and be led off to the "seringacs," or rubber forests. Fortunately for Brazilian cities, the present, season 'in Amazonia Is approaching its end, and the fall of the rivers will prevent any' serious exodus of city workers. Another effect of the rubber boom will be to prevent any political troubles. Brazilians will not support any movement which might interfere with the present favourable situation of their country. NEW ZEALAND PKODUCTS AT TRIESTE. The Hon. T. Mackenzie, Minister for Industries and Commerce, has received •idvice from tho High Commissioner m London to the effect that ah exhibition of New Zealand products collected by the Austro-Hungariau Consul at. Auckland was being held during March last in the Commercial Museum, Trieste, and the British Consul at Trieste in a dispatch mentioned tho-following observations of the "Trieste I'iceolo della Sera," in announcing the exhibition in its columns:—"New Zealand, u country rich in natural products, is developing -more and more a large trade sn exports, and the consumption there of European industrial products is constantly increasing. Many English, American, German, and French steamship lines call regularly at ports in those islands, and consequently enjoy an almost absolute monopoly or trade in those regions. In New Zealand there also prospers a new colony of Dalmatian immigrants, the members of which live apart in the camps to the north of Auckland, and do not tend to mix with tho rest of the population of a predominant British character. Amongst the important products of those islands may he mentioned wood, meat, butl-sr, skins, and hides, and other animal products; cereals, hemp, oleaginous nuts, timber, gams; and tanning barks. The importation, owing to the increasing prosperity of the population, la in constant augmentation." CUSTOMS EETENTJE. Customs revenue collected at Wellington yesterday amounted to £1789 os. Bd. WELLINGTON MAEKET REPORT. The New Zealand Farmers' Co-operative Distributive Company, Limited, report as iollows:—Potatoes,, still continue scarce, with small business being done. Vegetables find a ready market, especially pie melons, lettuce, and parsnips, all in excellent demand. Canterbury Globe onions still coming to hand iu good condition, and selling freely. Hothouse tomatoes arc in great demand. Tears are wanted at high prices, as also grapes. Apples are in butter demand at slightly increased

prices. The price of eggs is now steady. I'ungus is in excellent demand at high i.ices. Walnuts arc now cbming to hand more freely, with a downward tendency in values. Porkers meet ready sale, as also heavier weights. Potatoes, prime Un-to-lJatcs .67 Its. per ton, seed, specially BclccisS; Canterbury TJp-to-Dates, £8 per ton; onions, £A to £4 10s. per ton; garlic, 3d. per lb.; cabbage, choice 2s. to 3s. 9d., ordinary 6(1. to Is. per sack; cauliflower, choice Bs. id., others 3s. to Is. (id.. per sack; cut rots, Hutt, Ud. doz.; turnips, white, 6d. doz.; swedes, Is. to Is. 9d. per sack, market glutted; vegetable marrows, Is. to Is. 6d. per sack; pumpkins, 2s. 6d. to 4s. sack; pie melons, 3s. per sack; lettuce, choice ss. to 65., fair Is. 6d. to 3s. 6d, per case; spinach, best, 3s. per case; French beans, Bs. 6d. per half-sack: spring onluiie, Bd. doz. bundles; tomatoes, hothouse, 14s. 6d. per half-case; apples, cookers, large 4s. to 55., small 2s. to 3s. 6d. case, dessert, well coloured 7s. to 9s.

Gd., others 4s. to ss. Gd. per case; pears, dessert 10s. to las. 6u., cookers, large 4s. on. to ss. 6d., small 3s. 6d. to 4s. per ease; grapes, best llutt Is. 3d., best kelson Is. j,ei lu., butter, separator 10d., dairy 9Jd. ier lb.; cheese, best faetory nifcdiiuus 5.u1. lo s»u. per lb., loaf 6W. to 7d. per lb.: dressed pork, 70's to ill's 4£d., SO's to ltti's 4id., bacouers 4d., choppers, heavy 2d. to yd.; eggs, fresh Is. 9d., preserved Is. 2d. jer doz.; bacon, factory sides Vd„ rolls /id., hams bid. per lb.; honey. 4d. to per lb.; beeswax, Is. 4d. to Is. 6d. per lb.; fungus, keen demand at 5Jd. per a,., walnuts, sd. to sld. per lb.; tallow, tniH, 225. cwt.; poultry, cockerels ss. fid. for good birds, small 3s. to 3s. 6d.. table toasters 45., table hens 3s. 6d., small 2s. to 2s. 6d., ducks, large ss. .to 6s. Gd.; small )a. to ss. tu. per pair, turkey gobblers 9d. , .-r lb., hens Bd. per lb.'live weight; maize, 3s. 9d. per bushel; wheat, 3s. 9d. to 4s. ier bushel, seconds 3s. 6d. per bushel; barley, feed 3s. 3d. per bushel. Capo 3s. 6d. per bushel; horse beans, 4s. 6d. to 4s. 9d. 121- bushel; partridge peas, ss. per bushel; Prussian blue peas,. ss. 6d. per bushel; barley meal, £5 10s. per ton; sharps,' £6 10s. per ton; bran, ..€4 10s. per ton; chaff, oatenslieaf, £5 to £5 !ss. per ton; hay, iriine, £3 15s. to £4 10s. per ton; straw, ivheaten £2 10s. per ton, oaten £2 7s. 6d. per ton; linseed oil cake, genuine. £13 pcrton; oats, iced 2s. Bd. to 2s. lOd. per bushel, seed, sparrowbills, gartoni-, duns 2s. lOd., Algerians 3s. 3d. per bushel, crushed 2s. lid. per bushel; machine-dressed cocksfoot, 6jd. io 7d. p=r !b.; farmers' dressed cocksfoot, Sd. to 6d. per lb.; ryegrass, 4s. 6d. to ss. per bushel; Italian ryegrass, 4s. 3d. to 4s. 9d. per bushel. PRODUCE MARKET. Mcssts. Laery and Co., Ltd., Wellington, report wholesale prices ruling on tho market :—WTieat, fowl, 3s. 7d. to 3s. 9d.; feed oats, 2s. sd. to 2s. 7d.; dun oats, 2s. 7d. tp 2s. 9d.; seed oats, 2s. lOd. to 35.; Algerian oats, 2s. 7d. to 2s. 9d.; maize, 3s. Bd. to 3s. 9d.; crushea malt, 75.; fowl barley, 2s. 9d.;Cape barley seed, 35.: flour, New Zealand £10 ss. to £10 10s.; Australian, £10 155.; peas, Prussian blue 6s. 3d., split £18; bonedust, £5 155.; superphosphates, £5 to £5 55.;; pollard, £510s. to £6; bran, £4 55.. to £4 10s:: pearl barley, 155.; basic slag, £4 10s.; chaff (oatenslieaf), £4155. to £5 55.; oatmeal, £12 lUs-N potatoes, £0 10s. to £7 ton; onions, <is. to 4s. Gd. cwt.; molasses fodder. £5; bacon 'factory), sides 73a., haoitiSd., rolls Bd.; butter, prime bulk 9d. to 10Jd. Poultry, liens, 3s. 6d.; ducks, 4s. to as. per pair;- turkeys, gobblers ISs. to 205.. hens 10s. to 145.; fresh eggs, Is. 9d.: preserved eggs, Is. 2d. per dozen; cheese, 53d. per lb.; Akaroa machine-dressed cocksfoot, 6d. to 7d. per lb.; farmers' dressed cocksfoot. 4d. to sd. per lb.; ryegrass, 3s. 6d. to 4s. Gd. per bushel; Italian ryegrass, 3s. 6d. to 4s. 6d. per bushel; white clover. 70s. to 755. nor cwt. BASK DISCOUNT BATE, FURTHER REDUCTION. Telegraph—Preßß Association—Copyright London, Juno 9. The Bank of England rate of discount, which was ou June 2 reduced from 4 to 35 per cent., was to-day-further reduced to 3 per cent. SIIiVER. lly Telecrapb-Press Association—CoDTrlchL London, Juno 9. Bar silver is quoted at 24 9-lCd. per ounce standard. COPPER. B> Telegraph-Press Association-Conyrlehr, New York, June 9. American stocks of copper total 160,426,9001b. LONDON MARKETS. Messrs. Dalgety and Company, Limited, report having received the following cable advices from their London house, under date of June 9:—Frozen moat: Mutton, light, prices are id. higher. There is a .better demand for all other descriptions, which are firm at last quotations. Lamb: There is a good demand. Since last advices prices for Canterbury are £d. per lb. higher, and North Island 3d. per lb. higher. Beef: Demand has been checked by increased prices asked. Hinds are lower by 3d. to 3d-, whilst fores are Jd. to 3d. per lb. lower. Tallow (in general), 6d. lower on the spot. The New Zealand Loan and Mercantile Agency Company, Ltd.. have received the following cablegram from their London house, under date June 9:—"Wheat.—Sold at 325. 71(1., c'.i.f., Australian cargo. Market weak. Fair demand, market fluctuating. Oats—Cartons, 17s. 6d.; sparrowbiils, 16s. 6d. Market very weak, Restricted demand." URAIN AND PRODUCE, lily Telegraph—Press Association.! Christcliurch, June 8. The local wheat market is very dull. Good pearl wheat is most in demand, but is apparently very scarce. There is a fair quantity of wheat oifering, but in view of the state of the London market there is practically no demand for shipment. The oats market is likewise very quiet, and business is limited. Potatoes are not quite so firm, and there aje nioro sellers at £5 55., which is, however, the lowest price that will be accepted.