COMMERCIAL ITEMS.

Dominion, Volume 3, Issue 853, 27 June 1910, Page 10

COMMERCIAL ITEMS.

INVESTMENT KUAEES. \ Sales were reported on Saturday of Bank i of New Zealand shares at .£lO 35.; Welling- 1 ton Gas, ,£6 153. raid, at £13 12s. 6d., and t Taiipiri Coal, at £1. Natioual liaaik, buyers t £i; Ibilk of New Zealand, Imyors .CIO 25.; i Kquitiible Buildi.-iB, Imycrs .£9 7s. 6d.; f JicLiODolitan building, buyerd £12; Welling- 6 ton Investment, buyers 11s. 3d.; Wellinp- .•■ ton Trust and Luwi, liuyers £7 Bs. 6d.; 7 AVollinstou Deposit, buyers Bs. 3d.; Na- 1 tioisal Mortgage, buyers £3 4s. 6d.; New ' Zealand and Itivor I'lale, buyers £2; Fciid- 1 ing Oils, sellers £1 2s. 6d.; l'alnierston 1 North Cia=, buyers £7 155.; Wellington 1 Gas, £!0 paid, buyers £18 10a.; £6 lib. i paid, buyers £13 ids.; National Insurance, 1 buyers £1 9s. 3d.; Standard Insurance, 1 lniycrs £1 <s.; UhriKtehurch Mont, buyers 1 £13; Rear Heat, £<1 pad, buyers £10 Is.; I Now Zealand Shiiipiiiß, buyers .CS Sα.; Wei- ! lingtoii Woollen, buyers £3 55.; Taiipiri ! Coal, buyers 19s. 9d., sellers 205.; Westnort ! Coal, Imyc.-s £6 11s.; U'yland-O'Brien 'J'im- c ber. buyers £1 55.; Tarauiiki l'etroltuni, 1 buyers 125., sellers 13«5.; Ward and Co., buyers £4 18s. 6(1., sellers £5. SYXTITETIC ItUIIDEH. , A patent lins recently liocn irranted to a : i!el;.'i.ui chcrai't. for the uiaiiiifaetiirc of .' an Li.tlfit-iii 1 or synthetic- rubber, liaviuc ] siruilnr physiral iiriM'ertics to I'ara rub- < ;ur. Tiie '.uiiiii fei'.tnru of the inveiitioli < (■ovists in the feinientalion of peat or I luif under such conililiuns th.nt it is con- i virled in part into a Eliitinoiis hydro- I rarb'in macs haviui; tlie iiliemical formula I (CSIIBW. A quantity of the peat, which i should not contain more than about 15 : nor cent, of moisture, is placed on tho ' floor of ii fermeutins dinmner, mid is j first sprayed with about its own weiclit '■ of water; next six fluid ounces of tho : ferment which is present in imperfectly ' tonniid rubber and about live gallons of i twai'iu water iu wliicli 11 pound o£ sukuc i

has been dissolved, arc added for each tan uf peat. The ferment init chamber is then closed and kept at n comparatively hiirh temperature for alioiii three week:'. The lilies of the chamber bciup; inado of zinc a deoxidising effect is produced on the ma.'.". At the end of tho period the pe«{ is found to be covered with a layer of mouldy material, and below this is the hydroearlran mass. This is collected and trniiMorrotl to a eyliuiicr coiitaiiiinis wa.or to which certain mineral pails have been .u';k".l am! in which is susiieiidctl the red substance extracted from Ci.iir;..! iv.l rubber, "'his cylinder ia heatei! by p.-i«si!i!t steam throii'.'h a steam jn.-kot siMToumlin!,- it, and is afterwards allowed to tool. ' \ substance '-■; found aoatiiiK upon the surface of the licmid, wbic'.i is tlio artificial rubber. To purify the product it i= run ofV through a pine into a second tank coiitainiiiu' water and a, Mnall ouauii;.y o-' a''o : ;ol or mi-ihyhitod spirit. The purilk'd rubber can then be cavcivd' with" a thin'"layer »r 'petrol' or the like, which soften? the rubber, rendprinjr it sufficiently plastic to be readily and easily moulded into any required shape. Whether the new product can be produce cheaply enourrh to compete with tin! ua.mal product is open to doubt, but the process is certainly iuKcnious. IiEUTIiII'S TELKGIIAJI COMPANY. The report of liouter's Tck",'ra:ii Company, Ltd.. for i%9 shows thr.t the earnings of this weil-known news nßency have been niliicieutly maintained to permit of the usual distribution of 5 »cr cent., this beina: the iificenth consecutive year for which thai rate has been paid. The gross receipts amount to .£193,5C0, as ai?ainrt i:\%.!XO, and the net profit conies out at .C4oCO, sis compared with £5500. The latter item is after allowing far .£«CO curried to reserve this time, against ££000 in IKS. The total reserves other thau officers' pensions, now stand at £99,000. COST OF LIVING IN U.S.A. Tlio British Consul at Baltimore, Ih. G. F.-aser, in the course of a consular report on the trade and commerce of Haitimore, says that the problem of the constantly increasing cost of the necessaries of life, rsiiffiiig from 11 to 30 per cent, in lSi-9, to mure than 56 per ccm. in 13 yeare, a-nd to 60 per cent, in til tie more than 20 years, appears to lie ::■ diiJiciilt oiw to jive ;: specific reason for it. Mr. Fraser points out that there is little doubt hut that tlio abandonment of farms in Maryland and the. Virginias after the soil has boon worked out is one reason for the scarcity of food in the States, and that a potent cause is the hifth profits tlio rctaiier receives—42 per celil. bcinp enforced in Washington and Baltimore. "Then, of course," adds Mr. Fraser, "the middlcnia.il pels his profit, which is the highest of all. . . . There cannot bo any ilsmbl. whatever that tile rise in prices has affected tlu>s<* who are paid .salaries, in which there has been no appreciable increase for the past 15 years, more than any other class. The man who received, say, a salary of £550 a year in 189' ought to be paid at tlio present time .6394, and the mow who received XICOO should receive to-day £1600 to enable him to live as well as he dill then. Legislation is promised by Coupress, and Federal prosecution of tho trusts is threatened, aud boycotts are ucinj held, but they do not recm to have, tho desired effect." SUEZ CANAL TtETUKKS. A British Parliamentary Paper giving returns of shinning and tounayc of tho Suez Canal for 1907, 19C8, and 1519, shows that the number of vessel.-, which parsed through the canal was 4267 in 1907, 3795 in 1303. and .1159 in 19C9, of which 2651 in 1907, 2.133 in 19G2, and 2561 in 19C9 carried the British lias. There was 'an increase of 1,;e9.555 tons latt year as compared wit'i 1903 in the tonnage of British vessels, which amounted lo 9,495,6(3 tons in 1907, 8,302,602 in 190S and 9,552,387 tons in 1909. During tho same period tliu tonnage of German vessels had increased from 2,253,651 tons in 1507 to 2,5!0,i07 tons in 1908 and 2,381,681 Mils ill 1909. The percentage of British vessels and their net touuane inennsod in 1919 iu comparison with 19(3, being 60.4 and 62.3 respectively, as against 55.8 and 60.9 in 1908 ami 62.1 and C4i in ISO 7. The percentile of German vessels and their not toimago wc.i 14.2 anil 15.5 respectively, as compared with 15.4 and 16.9 in 193S and 13.6 and 15.3 iu 15C7, while the perccniage of net Ufiu!j°tlii! canal in 1909 remained practic-a-Uy stationary as compared with tho preceding year. Of 2163 merchant vessels and vessels in bul!a«t. of a not tonnage of 11,236,726 tons patsins (.hriiuKh the- cun.-.1, 5356 ships of a net tiiiuia™ of 8.601.V9J lons were British, bains 74.5 per cunt, of the number ami 76.7 per cent, of the tannage; 317, or 10 per ceilt., were (Jcriiuin whose tonliajo wan 10 per cent, of the whole. Ilolland, Franco, Austria-Hungary, Morway, Denmark. ILussia, and Turkey combined furnishing a total of 14 per cent, of the vessels, and 11.1 per cent, of the tonnage of the carrying trade to tho East through the Sum Canal. The uutnbcr of troops carried through thei canal during, last year amounted to 70,144, as against 71,917 in 1908. beh'g a decrease of 1775. There was an incroa.e of 6322 Turkish, 775 United Stales and SCO Dutch, against a decrease of 4763 French. 3729 British, 706 German, and 236 Portuguese troops as compared with 1903. The of civilian passengers amounted to 116,255 in 1509, as against 110,736 in the proceding ycai, being a:, increase oi 5519; while the number of pilgrims, emigrants and convict:; was 26,722 in 19C9, as compared with 36,132 in 1958, or a decrease of SflO. The mean duration of passage for all vessels navigating tho canal was I7hr. 13min. in 19C9. iu compared with 17hr. 24min. in 19C8. while the percentage of vessels navigating by night as well as by day, amounted to 97.1 per cent, in 1909, as comparod with 96.8 per cent, in 1903. HIDE AND SKIN HEI'OItT. Messrs. Dalgety and Co., Ltd., report :-At our monthly sale, held at Palmerston last week, we offered a, largo catalogue in Ihn usual lUtaiilauce of buyers, r.m! competition was keen for all lots, and have n report a total clearance as under:-\Vool: Our catalogue consisted of medium to inferior mitchimts, no superior lots beiii'i offered. M'c iiuote:-3lediiiin cnitchin.;s, from 6d. to 67(1.: inferior and seedy, Sii. to 53d.; lambs' wool, inferior and scaly, 62d. to 73d.; rough cnrabrod 6'ii. to 7Sd • dead wool, 7(1. to 7«d.; black wool, to 6jd.; pieces, to 6d.; locks, 3d. to 3'J. Sheejisliins: Prices for those were slk'hily lwtr tor thau last sale's rate?, rca!i:<iiig as follow:—Coarse crossbred, 6'd. to 7(1.; medium, to 7Jd.; lambs, 7d.; shorn lamlis. M. lo 6id.; dead skin?, 6il. to 6!d.; dead hoi-Rets, s»d. to £;!.; pelts, 4;d. to Sd.; half-wooh, to GJcl.: inferior and damaged crossbred, from 4d. to Pd.; butchers' crossbred, at per piece-light, from 3s. 7(1., 3s. lCd., 45., to 4s. 6d.; heavier, from 6s. ss. 6d , to 6s Id ■ lambs, from 2s. <d., 3s. 6d.. to 4s. 4d.; sailed crossbred. 4s. 6(1., 55., to ss. 7(1.; lambs, 2s. 7d. to 33. 6d. Hides: Although these met with keen competition, prices zhow a. decline on last s-ile's rates of id. to jd. per lb., in sympathy with other markets. Ox, heavy, to 7d.; medium, 6;d. lo 63d.; light, (ijd. to 6Jd.; cow hides, host lines. 6j)d, to 61d.; good ditto. 6U1.; cow, roush and inferior, from s«d. to 6d.; cows, slippy, to 45d.; cows, cut, sd. to Kd.; fleers, '53(1.; heifers, Sltl.; yearlings, from sd. to 6d.; bulls, 4.W. to 4?d.; horse hides, to 6s. each; calfskins, best lots, from 9d. to 9Jd.; mediiiiu. Bd.; cut, 5>.d.; slippy, 4d.; "dry, to Is. sd. each. Sundries: Tallow, in tins, from 225. to 235. 9ll.; tallow, in casks. 2fo. 6d. to 275. per cwt.; inferior rubbit sUiuc, Is. 6id.'per lb.' Wtie ' Ur ' PEILDING WOOL AND TUBE SALE. 3Tr. llubli ltoberts, of Feilding, reports as follows:-On Friday I held my monthly sale of wool, skins, and hides, and oll'ored a catalogue comprising 25 hales and 65 bags wool, 1120 skins, and 2CO hides and calfskins, cask a.nd tin tallow, and usual sundries to a large and representative a t. tendance of buyers. Competition was keen ror all lines uflerell at full market rates. As expected, hides were easier by M a lb A bull hide from a Hereford, bred" by Mr. D. P. Buchanan, made £2 6s. 6d. The wool offered was principally crulchings. which m.iiie up lo 7:ld. lb. for a nice, bright, lfeht-conditioned. well sorted line. Quotations :-Wool: Fleeces, low conditioned, 7d.j dead, 63d. to 7Jd.; black. 63d.; lambs, 73d.; pieces, 5d.; locks, 3Jd. to 4d.: cruti-hinus, short and inferior, 51d.; medium Sd. "to 61i!.; bright clean, 7J'd? Skins: Full wools, stale pells. 7d. per lb.; half-v.oola, 7)d. to 7iU.; inferior, -Ud. to 43d.; shorts. 6d • inferior, id. to 5Jd"; lambs, 6d. to 7'd.; black, 4;id.: pclt.s inferior, 33d.; dead, 53d. to 6J(1.; broken and inferior, 4(1. to "»d.; "rcen and half-dry, at each, 4s. 4d., 4s. "5d , Os 9d 5« Id., ss. 4d., ss. 6d., ss. Bd., 7s. 6d.; li»ht and inferior, 2s. to 3s. Ed.; dead, inferior, Cd., Is., Is. 7(1., and 2s. Hides: Calf, sound 0,-Scl. to 9, , , d.; cut, 6/.d.; slippy, 4 ; : d- vearlintrii, Sid.: ox. li B lit. 6{d.: 'medium.' 6?d. to 63d.; cow, 6.1 d.; slippy, sloppy, s?d. to 5;d.; liifiliiim, s'd.: niuph. 5d •' hulls 5Jd.; horse, at each, td. to Cs. 3d.; r.lippj, ss. 6d. Tallow: Tins, 245. per i-.rt.; «. ond-dass, 12s. 9d.; casks, inferior, 235. 3d.; horsehair, Is. 4Jd. I'EILDING MAItKKT IiEPORT. Messrs. A. 11. Atkinson and Co Ltd or !nVd C '^ul™r l 'Vig" R wcre\fo\ l^-"?w"rlI ''H" such good riitalily "as'last week, but'e'vc'v P-n was quilled at prices mi a belter range of values than of late. I'oultrv v.;n ■■ it uf much iiiialitv, and bidding va's not kt—n fur iudiltercnls. n>e report aJils:-\Ve sold every pen under the hammer ai (~.„>. lations. Some useful irig luirscK were brought in and sold. \Yu aim miitled a. (liiantily of grain, produce, and furniture, and a number ot bicycle*. We (mote l'igs: Slips, Us.; stores, 15.;. 6d., !6s. 9d., 16s. 3d., 16s. 6d., 175.; porkers, 18-. 6d • 19.245., 265. Poultry, at per pair: Cockerels, 2s. 6d., 3s. 3d.; pullets, per pair 2s 3d 2s. 6d.; hens, Is. 9d., 25., 2.-. 3d.. S.i. 6d.; turkey hens, tOs. per pair, jrors.es, .t.i 12s. Od., £5, fii. Produce; JJrau, 4 B> j≤, per

I sack; wheat. 4s. 4d., 4s. 6d., ss. per bushel; Capo barley, 2s. lid. to 3s. 3d. per bushel; pollard, lCs. 4d. per sack; celery, 6d. per bundie; potatoes table, ICs. to 135.; horse c.-.r-rot.--, ss. per sack; oni.ins, 4s. 6(1.. 6s. 9(1. 2iilb. liaV; factory" bacon, sides', 7d. per lb.; hams. 61(1. BANK OF ENGLAND KETUTiN. By Telegraph—Press Association—Copyriih'. London, June 2-i. The Bank of England re!urn issued for the week ended Wedeno.sluy, June ■>■>, is as unilei".— Issui: Dep.iktmf.xt. Note Issue... AiOVJIB.ecO Cov. debt ... .fll,oin,CO3 Other securities ... 7.4:U,fftl UoW ... -fI.Wi.OIJa .cco.-23-j.m) xio.v^.ioa Bankixu Diii'AmiresT. l'ropriclors , Oovi. securicapital £14,553,000 ties .£17,974,030 rublic do- Other socuriposits ... i7,'b7o,off) lies 33.81W.000 Other deposits ... .'IV.on.COO Notoa ... 29.001,000 Best, 7-ilay ana olhor Ooiu , 1.2J7.C00 bills n,.J53.00D i£S,lii-S.'.CO3 The leading items of the Bank of England return aSord the following com. This week. Last week. Last yoiy £ £ £ Bullion ■11.7K.00a i:,07::,00n oiVJM.ooo Kcserve :iO.KB,COO 3:1,137,000 WAnUXO Note circulation :lt>.!i3J,U» £;,71W.00J i9.7c.5.C00 Public Deposits i7,fi;o,ooJ i7,5:3,1,0J J3.410.t00 Olhor Douosks 37.017.0J0 30.0i5.1WJ 4'.-tO.(XX) l'ropurlion of liabilities ... 49.83 51.90 51.30 GOVERNMENT SEOUEITIES. The following are the latest quotations for Government Eccurities. with a comparison of those ruling last week:—

BANE KATES Oi' DISCOUNT. Tho Bank of England discount rate was raised oa October 7 last from ?.\ to 3 per cent., on October 14 to 4 per cunt., and on October 2110 5 per cent. On December 9it was reduced to 4$ pa- cent.; on January 2u1u35 per ceut., and un February 10 to 3 per cent Ou March 17 it was again raised to 4 per cent., on June 2 it was reduced to 35 per tent., and on June S to 3 per cent. The L'a.nk of trance rate was reduced from 3J lo 3 per cent, on January 23. 1968. und remains at the latter figure. The Imperial Haul; of Oermauy, on September 20 last, advanced its rate from 3J to 4 per cent., and ou October 11 to 5 to 4J per cent., and on February 11) to 4 per ceut. HAItKET HATES OF DISCOUNT. Tho following are the market rales for beat three months' bills:— ' London Paris Berlin rate. rate. rate. percent, percent, percent. Juno 23 2J V, 33 Last week 29-16 2J S& Last year 111-16 13 33 Short loans aro quoted at 2> per cent., as against 2J per cent, last week. COLONIAL AND OTHER I'EODUOE. American market is "exciied owinj; to continued drought iu the soring licit. Knelish wheat has consequently advanced irom Is. to Is. 3d. per quarter since Monday, and is very firmly held. South Australian and Victorian, February-March shipment, it's.; New South Wales, February, 525. 9d.; Australian parcels afloat to Liverpool, 32-:. 6ii.; Australian landed, 3£s. 6d. Chicago July wheat lias fluctnntod between 9Sic. and 95,'e.; September. 923 c. to 94:jc. Tivo cargoes of Australian wheat were sold at 325. 3d. and 335. 3d. respectively. Flour is firm, hut the market is inactive. Olasi.'ow, 255. to 355. 6r1.. lauded; no Oats'are iir'm/Lii Pliita afloat, May-Juno shipment, 13s. Butter—The market is quiet, but prices aro steady. Choicest Australian, itt's. to 1625. per cwl.; New Zealand, ICC-s.; secondaries are being stored. ChcoEo.-Ncw Zealand white, 575. per cv;t.; coloured, Ms. to 565. Su-ar is firm. Ccrinaß beet, EBdeg., I'd. higher, at Ms. 7Jd. per cwt.; first mark granulated, uilchnnccd at 16s. 9d. Hra,i!ford Top:-.—There is rather more inquiry, but business is limited. Forties, 14ld. per lb.; forty-sixes, 16' d.; common sixties. >.d. lliKher, at 28(1.; super sixties, id. liigher, at 29(1.; sixty-fours, 293 d. TllU METAL MAEKETS. Conner.—Three mouths', 11s. 3d. higher, at £55 Ss. sd. per ton; electrolytic, .058. Tin. on spot, 17s. 6d. higher, at .£l4B 7s. 6d. per ton; three mouths', 15s. higher, at £149 7s. Cd.

; Pig-iron, 3d. higher, at 495. 2d. per ton. ; Lead, Zs. 6d. higher, at £12 15s. per ton. Silver is quoted at 24 11-16 d. per ounce ■ standard. '; W'ITKAT AND OATS. The New Zealand Loan and Mercantile Ajroncy Company, Ltd., have received the following cablegram (torn their London house, under date .Inly 23:-"\Yhoat.-Sold at 325. 4..d. c.i.f.. larp;o Australian cargo. Market firm, but inactive. Position owing lo unfavourable crop reports. Market prospeels America not likely to improve at , present. Oats.-Ciartons, 17b. 6d.; sparrowbills, 16s. 6d.; market quiet, but steady." ) FBOZEN MEAT. Ily Tclccraph— Prcds AsEomyliou— Coprritrht ] London, June 26. The Frozen JTeat Trade Association's j Fmithficld market (Relations for the unbused on rtctiiiit sulcs of not, Jess than ono hundred rawi'M of mutton or lamb. and twenf-live quarters of beef of fair ' average quality. The quotations are not , for selected lines, but for parcels fairly representative of the bulk of tho ship'which fo°low°are "on "aiV averaKO a farthj I ins per lb. more than the value ex ship. cost in'expenses. Wadling. conveyance, , and Eelliui tho meat:— ' June 19. June 26. Mutton- d. d. Canterbury, light 4 U ' Canterbury medium 3S h Canterbury, heavy 3S oh , North 'is'li-.nd, "bc'S'".'.'.'".'.'.. 311-16 3_i North Island, ordinary.. 5 9-16 oi Australian, light 3 7-16 3 Australian, l-.eftvy 3 5-16 3J 1 River Plate, light 35 oj Hiver Plate, heavy 37-16 3* LambCanterbury, light 53 59-16 Canterbury, medium 5J 5* Canterbury heavy 5 5-16 5 3-16 Southland ' .....". 5 7-16 5 5-16 North Island, selected... 5 7-16 5 5-16 North Island, ordinary... Ei Ei Australian, best 5 4s Australian, fair 42 fl Australian, inferior - Hiver Plate - _ EeetNcw Zealand, or. fores ... 3; \ 33 New Zealand, ox hinds ... 4} 4J ! Australian, ox fores 3J 3i I Australian, ox hinds 4J 4 i River Plate, ox fores 3S H I Hiver Plate, ox hinds .... 4.1 4 I HEIIP. 1 The market is dull at ss. decline. For 1 fair grade, May-July shipment, £Z2 !ss. is I quoted. I COTTON. Tlie Liverpool quotation for American ; middling upland cotton is 7.56 d. I METALS. SHver.-Bav silver is quoted at 24|d. per i Lead, £12 16s.' 3d. per ton. News mil bo found on page 9 of I this

rrico. C0J S < ' ksUvojk^ £ b. d. SjXIinr.orial Consols 63 1-J li 2?.l>.i. lover •1 ]05 0 0 Uuchumieil 34 ,,X.S.\V.1!)1S .nr.-Sou. ailOO Uucuansod 3 s) in o UuuUMfnd 4 „ Vic. WilJJau.-July i 102 0 0 Uuchaiited 35 „ Vic. liKi-6Jaii.-,liily !,.-> 0 I) UnchanBod 5 ..Vic.lMMUJan.-July w 10 0 Unclioniiod 3i ,,K.A. lilO.liui.-Jiily o.i 7 G UnclMnsud 3 ,,S.A. ljHi.lau.-,luiy si g u OucUliuleil i ,.y'rdl'J16-i)Jaii.-.luIy JOJ 0 0 Ulitilmiu'cd 3J ..(jTilliUWO.Ian.-.lulyj vt 1(1 0 Unchau'oil S ,,l!'l'ili!'--M7.iaii...;uiyl S3 JO 0 Uuclmntoil i ! 10d 10 0 Uuchnnrcd 35 ,,.N.Z. J'JiOJon.-July uu 10 (I Unchanged 3 ,N.Z.W!.-.A,.ril-Oc>, tTTli 2-,. Gd. louo" 3i ,,\V.A.riW0.Uay-;\ov WOO 10s. lower 3_ ,. \V.A,lUJS-:-.5jliiy-:>ov 6/ 10 I) Uncliau tell 39 .. Tis. IMUJaii.-Juiy ij I) 0 Unchanaod 3 ,,'1-s, lb-JJ-JO Jau.-July fc5 10 Q Unchaniied