COMMERCIAL ITEMS.

Dominion, Volume 3, Issue 861, 6 July 1910, Page 10

COMMERCIAL ITEMS.

INVESTMENT SHARES. A salo of Manning and Co., brewery shares, at £4 was the only transaction in investment - shares recorded yesterday. National Bank, buyers £6 Is.; Equitable Building, .buyers £9 55.; Metropoltian liuilding, buyers £12; Wellington Investment, buyers lis. 3d.; Wellington Trust and Loan, buyers £7 55.; Wellington Deposit, buyers Bs. 3d.; National Mortgage, buyero £3 4s. 6d.; New Zealand and River Plate, buyers £2 is.; Feilding Qas, sollers £1 25.; Palmerston North; Gas, buyers £7 155.; Wellington Gas, £10 paid, buyers £18 10s.; Standard Insurance, buyers £1 4s. 6d.; Gear Meat, £4 paid, buyers £10 Is.; £1 paid, buyers £2 13s. 6d.;' Wellington Meat Export, third issue, buyers £3; New Zealand Shipping, buyers £10 Is.; Wellington Woollen, ordinary, buyers £3 55.; preference, buyers £2 9s. 6d., fellers £2 llis.; Leyland-O'Bricn Timber, buyers £1 ss. 6d.; -Manning and Co., sellers £4 Is.; New Zealand Drug, buyers £2 9s. 6d.; Taranaki Petroleum, sellers 125.: Ward and Co., buyers £4 IBs.

STRIKE INSURANCE. Fortunately for us in New Zealand, strikes only occur occasionally, but in other countries, particualrly in Kuropo and the United States, they are frequent. Strike insuvanco is uow in vogue in soma places, and a recently-issued Consular ra-part-from Brunswick, Oermany, -describes the method of handling striko insurance hi Germany, where there are 48 companies writing this class of insurance, classified as follows:—13 strike '. Indemnity companies, 26 employers' associations for strike insurance, ana 9 In which occasional indemnity Is given. The United German Employers' Association for Indemnity for Loss by Strike is a reinsurance company, and is composed of a number of membership companies—in 1908 there were 20 separate organisations. The number of workmen employed in the industries in-, sured was at that time 411.028. and the sum of yearly wages £22,200,000. Dunne 19£8 claims amounting to 525,318 men's working days were presented, and the sum' paid amounted to £5300. At tho closo of the year the association had on hand a largo surplus. The method of paying underwriting differs in .the several companies, assistance being given in the event of a strike, and usually in case of a lock-out. Payment is subject to .'conditions, thu most important nf '.which is that work has not been stopped through any fault of the employer. The present system oi strike insurance in Germany has been but slightly developed, but it is growing in favour, and has resulted in a. diminution of. strikes.

THE "RUBBER MARKET. Pine hard Para, rubber on spot was last week quoted dt 9s. lid. per lb., and this price, represents a fall of about 2s. 6d. per lb. on the highest recorded this year. The most certain thing that can be said about the rubber market is that values .will decline. The high prices checked consumption and stimulated production, not only of the genuine vegetable product, but also of artificial rubber. What will be the effect when artificial rubber is available remains to be seen, but that wo will have such an artielp seems certain. .At the general meeting of the . Bayer. Company, held-at Elberfeld, Germany, a few weeks ago, the chairman stated, in answer to a shareholder, that the company had succeeded in producing. synthetic rubber last autumn, and were, he believed, the first to do so. It must not be'forgotten, however, that there :wa» a. wide gap butween solving the purely scientific problems connected with a matter of. this description and overcoming the technical and commercial' difficulties; connected with large-scale production. In the case of in-, digo, for example, although this was syntUesised 27 years ago, a further 15 years were required before the technical manu : facture was possible. They could therefore not yet say how long 'it would be- before they w.ere producing rubber commercially; it might take as long as had been the case with indigo, or it might be done more quickly. With rubber the difficulties wero greater than with indigo, where the annual value of tho crop was only about £3,000,000. In the case of rubber, however, taking tho world's annual consumption at 70,000 tons, the- value would much ' exceed £50,000,1100. The present price was exceptionally high; a few years ago the price was only onefourth as much, and rubber could bo grown at- a cost of less than 2s. per lb. It would be seen, therefore, that to compete with natural'rubber was a much more serious undertaking than .was tho early competition against natural indigo.

< NOTES. According to tho Belgian "Monlteur dcs Interets Materiels," the total of the new capital emissions made in all countries during 1909 was upwards of £800,000,000. This included State loans, "bank issues," and railway and Industrial demands, but excluded'all duplications such as the issue of now securities' to replacd old. States borrowed last year about £320,560,000, banks and' financial companies raised £91,000,000, and railways, industrial and other undertakings about £453,000,000. There are Ave agricultural colleges and 32 experimental farms' in Australia, tho Government grunts thereto in the financial year, 1908-9 having been £73,480. Tho students numbered 580, and there were besides 330 ' ltandH employed. The fees realised £12,084, and sales of. produce £24,878. The acreage under. crops was 8331, . with 947 acres in addition of sown grasses. The livo stock thereon included 782 horses, 975 dairy cattle,; 1297-other cattle, 14,605 sheep, and 1526 pigs.

Customs revenue collected at Wellington yesterday amounted to £1347 Is. 6d. TRADE IN ALLEN STREET. Fruit.—The Tarawera arrived yesterday with transhipments of oranges and bananas, ox Talune, from the Cook Islands. This .shipment reached a fair market. The Sydney boat duo this evening is bringing supplies of lemons, mandarines, passion fruit, pineapples, and Seville, oranges. Owing to the cold, wet weather experienced recently, the demand for most lines has slackened, and prices arc easier. Vegetables—Excellent prices are being obtained for cauliflowers, the demand for which continues unsatisfied; choice realise Ms. to 17s. per sack. Parsnips have fair inquiry. Marrows and pumpkins are in over-supply, and are making moderate Potatoes.—These havo firmed slightly during the past week, -owing to the advance In- Australia and the smaller Ghipmentß coming forward from, that quarter. ; flnions.-Supplies of Victorian a'r» due this week. New Zealand-grown meet with poor inquiry, the samples now coming forward being soft and sprouted. , Eggs—Fresh eggs aro in short supply, and make about Is. 4d. per' dozen. Butter.—Prime bulk is wanted, tho current ' quotations being IOJd. per lb. Fungus—Prime dry is realising 5Jd. to 53d. per lb. . .„_'., Poultry.—All descriptions meet with good Inquiry, but values aro unchanged. ; Wheat.—ln sympathy with the advance in milling wheat, fowl wheat has firmed and is now worth 2d. per bushel more than i fortnight ago.

Pollard—Owing to tho shortness of tho Now Zealand product, heavy shipments aro coming forward from Australia. ttran is without change. The current quotations locally aro 85s. to 90s. Flour.—Owing to the rise in wwat, an advance in flour is expected. Oats aro coming forwaTd freely, and values aro unchanged. < Jtaizc.—Prices in tho north have declined 2d. per bushel. STRATFORD HIDE SALE. Mr. Newton King reports:—At my hide sale, at Stratford yesterday the cataloguo comprised 8 bales and 58 sacks of wool, 239 sheepskins, 22 casks and 63 tins of tallow, 1325 hides and 284 calfskins. In sympathy with Autralian markets, produce declined all round. The wool offered was mostly crutchings, which sold up .to Gd. per lb.; cow hides to 7gd.: medium, to 7d.; heavies, to 63d.; ox, light, to 6d.; medium, to 6id.; heavies ■ and stout, to 7f;d.; stags, to s£d.; farmers' cow, sound, to %l.; yearlings, to 5Jd.; call, best, 9&d-; medium, to Bjd. THE METAL MARKETS. By Telegraph—Press Association—OoDyriESi Otec. July 5, 9.35 p.m.) London, July 5. Copper.—Electrolytic, £57 17s. 6d. per ton. Tin.—On spot, £151 2s. 6d. per ton; three months, £151 per ton. Lead.—£l2 12s. 6d. per ton. Bar silver is quoted at 241 d. per ounce standard. WHEAT AND FLOTTR, By Telegraph—Prosß Association—Copyright. London, July 5. Wheat—Tho Macmahon's cargo sold at about 335. a bushel, and tho Graphic's at 325. 9d. per bushel. The wheat and flour afloat for tho United Kingdom totals 2,970,000 quarters; for the Continent, 1,020,000 quarters; Atlantic shipments, 82,000. The-total shipments to Europe during the week amounted to 915,000 quarters, including 97,000 from the Argentine, 390,000 from' Russia, 165,000 from India, and 50,000 from Australasia. LONDON WOOL SALES. By Telegraph—Press Association—Copyright. London, July 5. In connection with the forthcoming series of London wool sales, 285,684 bales have arrived, of which quantity 155,500 bales have been forwarded direct to tho manufacturers. There are 155,010 bales available for tho sales. ~