COMMERCIAL ITEMS.

Dominion, Volume 3, Issue 896, 16 August 1910, Page 10

COMMERCIAL ITEMS.

' "'INTESTMENr SHAKES. : . '■ . Yesterday Wellington Woollen ordinary shares sold at'£3 lfe, and Taringamutu Totara ,, Sawmills at £1 10s. The. following

■■■' AUSTRALIA'S-.STJGAE INDUSTET.- '.. • Australia's sugar industry is a. most important one, .not only because it represents, a large capital investment, and gives a-.-good/deal o! employment, but alEo because it has been'placed in an ; artificial position ae the result of •tho' wMto Australian policy.' -An " appeal was made to tho ..Federal Prime Minister last week to advance; money for the erection ,of central'sugar mills, but Constitutional difficulties were in the. way, otherwise the Federal Government would not hesitate to further bolster tho industry. Tho pro-, ductiqn appears to bo decreasing .rather than.increasing, notwithstanding the-boun-ty, and tho outputs, fo the £ast five years are > approximately as under:-r;':,-., ; ,

It is. estimated that at the'end of last year thero. were 32,855 persons engaged in the industry, o£. whom 30,584 wero white, who, earned 'a bounty, 335 white, who earned no bounty, and 1936' coloured. ■' At the end of 1905 thero were 8452 coloured ■ persons.employed in. connection with this industry." The .bounty paid.to white lab-' our ; has, however, failed to stem the downward :tide as far as the sugar industry in New South Wales is concerned, for whereas the acreage in 1902 was -24,051 acres, in 1910 it had dwindled to .13,364-acres, and the shrinkage has been steadily proceeding from year to year. Tho amounts'ac- , tually paid in bounties in each year of tho last five .yeaTS .were,,.as'under:— ■~ ,-,'/, ' >'; ... ''?;;-^^^.'"Queensiana. , %;S;\7.'?.-

: ' ■ . ' - - '■ .■ "£ £■.:;'■ . -1906 .-..:..... v.-- 285,420 : =."!"'. 42,790 •': 1907 :.............:.....„... 499,068' '.. 78,080 ' ' 1908 .„. 436,403 - 40,687 . •'. : 1909 '■..; :......„ ..365,297 .36,834 ii '1910 >:.;.^;.;;..'531,963 ' r^41.139

But .theio is on,excise duty,which for the last year .amounted to £676,558,' so that,' after 'tho payment of the bounty, the net gain to the revenue was £97,425. . The gain Has been as much as ■ £381,370... This shows .that the sugar l industry ■ cannot well be allowed to expand beyond the requirements of, the-,.Commonwealth.:. \Were■ sugar, ex-, potted, tfie excise duty would not. bo. increased,, whereas the bounty.'would 'expand, v and there would be. a deficiency as' far as the-'revenue is concerned.'- ' '. . Commenting on ,the ; figures, the "Sydney Morning Herald"- says :—"This enables ..us' to draw some conclusions as to'the actual effect of - the . duty-e.tcise-bo.unty ',' scheme, which is apt'to confuse the ordinary mind as to. its inwardness. Taking the 'consumption of .sugar in Australia as, roughly, 210,000 tons ,i)6r,..aiinum,.,it may-be-iassum-; ed that'this sugar could be imported and sold, duty free, at least. £6 per ton. cheap"er ' than.; su'gar-.'jis '.: now ;sold within';.the Commonwealth.'"- ,Wero'beet:.sugar—which is an excellent .article-Smported,. the ,nrar§in might bo even greater.. If Borne margin e,allowed, and'only £5 per;ton be taken, it will bo found .that the people of.tlie Commonwealth pity £1,050,000 per annum more than they need to uphold the sugar, industry." ;.-.. : •■' ... •- ••■■■• ■'■ " KOTES. '.-, '■A oircular: haii been. Issued- by the liquidator of. and.Biley,. Ltd., stating that.the whole of the assets have been realised, except the packet': pea., business. It appears-,that tbu.,liquidator.-has carried on this branch successfully, and with uood .results financially., It.is .proposed to form a .new.'company with, a'..capital of £25,000, the shareholders in the old • Company to' have a preferential, right of. allotment .in the new company. . - ' ' .' .. '. ) The' New York correspondent of "The: ,Times" oh July 1 wrote that prices in allwheat markets had advanced in . a. ■' sensational manner ' under aggressive-, bull-manipulation and urgent covering of short contracts. .Weather conditions in.the north-west, which a fortnight before were!good, had suddenly become unfavourable. A wave of extreme heat, the thermometer in some sections registering as, .'much as llOdeg., had developed, and with the:absence of rain extensive damage was reported. '.Rome of tho best authorities' asserted that ■ in North Dakota, where! there had been a prospect ; of a yield of 120.C00.C00. bushels, as. indicated by tht, Government June report, the condition of thoplants had suffered to the extent of from. 25 to 50 per cent. , The light soil regione of the western section .of that . State had suffered most from excessive heat and deficient moisture. Advises.from many of the. counties in that State were to the effect that unless rains and lower temperatures materialised immediately, tliedamage would be disastrous. Wheat was , said it, "heading out" short. This very unfavourable situation had been confirmed by the Government weekly weathei n> f" ports. . . ■,;■■• ' ' ''..;•" : The ■ export of French plums from Bordeaux in 1909, amounted to 14,746 tons a decrease compared with 1908 of 5020 tons, oxports to the ' United Kingdom showing a falling-off of 979 , tons. A British Consular report .states that in some districts ■'the ■*fruit was" remarkably abundant,. anS; promised the usual outturn of big fruit, but when drying took place the shrink-, age was beyond, all precedent. The result was .deception , to ■ the entiro trade. Sonio : vory heavy losses were suffcied through forward sales having been made at low prices which, could not be ihipncd, ;'ns. Borne of the sizes Hold were found to.'be non-existent.' Prices , consequently ran'.lip considerably, and some of. the Bordeaux 'Fhippefjj" cancelled their contracts at a.heavy sacrifice. • ■ •',■'■ ? The Customs.-" revenue collected at tho port-'of■-■Wellington yesterday amounted' to £1202 15s. 2d., :- WELLINGTON, MARKET HEPOIIT. .-. ; Messrs/ Lacry and Co., Ltd., Wellington,' report wholesale prices ruling on the mar-. kets:--Wheat, fowl, 3s. 8d: to 3s. 9d.; feed oats. 2s. sd. to 2s. 7e1.; dun oats, 2s. 7d.'.to 2s. 9d.; seed oats. 2e. 10d. to 35.: Alcnrian oats, 2s. 7d. to 2s. 9d.; maize, 3s. 3d. to3s.sd:; crushed malt. 75.: fowl barley, 2s. 9d.;Oans: barley Ecad,V3s.; -Hour,. I<ew Zealand . £9 15s:' to -.£io;-p.ea«,'..Prussian., bliip fisi.-' 3d.,, .split -.£18; Vpartridgo :3d. 1 bushel; bonedusti £5' superph'osJiliatea.. £5 to. £5 5a.; pollarU, £S

10s.: bran, £4 6e. to £4 10s.; pearl barley,155.; clialT.-(oatenshcaf), £4155. to £5 ss.;oatmeal,.£l2 10s.; potatoes, table, £7105.; seed potatoes, Up-to-datos, £7; onions, Victorian, £7 ton; molasses fodder, £s'; baton (factory), sides. 7id., hams 9d., rolls, Bd. ;■. butter, prime, bulk, 10d. to lid. Poultry, hens, 3s. 6d.;. ducks, sa. to 6s. per., pair; turkeys, cobblers' 18s. to 205..' hens 10s. to 145.; fresh eggs, Is. '2d. per' dozen; cheese, -Sid. per lb.; Akaroa ma-chine-dreß'sed cocksfoot, 7d. per lo.; , - farmers' dressed , cocksfoot, sd. per 'lb.;ryegrass, 4s.' 6d. per bushel; Italian ryegrass, 3s. 6d. to 4s. 6d.. per buGhel; white clover, 705., to 755. per cwt. ' . . GEEI'MOtITII i'RESII FOOD AND ICE .... . COMPANr. ■■< The annual meeting of, ; the Grcymonth Fresh Food and: Ico . Company was held last week at tho Commercial Hotel, Mawhera Quay. Tho chairman, Mr. W. It. Kettle, in moving the adoption of tho report, expressed regret that, instead of tho anticipated profit, there was a small loss, owing chieily to- tho burning down of the town factory last year. The company had, ho , stated, recently undertaken the supply of milk in tho town,, and tho business done so far had:been,vcry satisfactory. All the machinery was in good order, and the manager, Mr. jKinnibuxg, was doins excellent work. > Thb retiring directors, Messrs. M'Bricrty and Wheeler, wore unanimously rc-tdected, as was'also the auditor, Mr. J. F. White. '. LONDON COMME2CIAL. ,By Teleeraph-Press Association-Copyright. ' ' ■ London, August 14. . Wheat.—Two..- Australian cargoes sold at 375.- 7jd. aad 395. 3d. respectively. Ten thousand quarters' of South' Australian August-September shipment brought 395. The wheat and flour afloat for the United Kingdom totals 2,430,000 Quarters; for tho Continent, 1,435,C00 Quarters; Atlantic shipments, 50,000. . Tho total shipments to Europe amounted to 1,050,000 Quarters, includ- ■ ing 115,000 from Argentina, 340,000 from EusBiay 295,000 from Danubias districts, 143,000 from India, and '37,000 from Australasia. Colonial hares, 3s. 6d. .-■••■ Rabbits.—Market firm and prices unchanged. Thero arc few- in store. Rubber, 9s. 2d. per lb. Cotton, 7.77 d. '. , - Hemp.—Market inactive and prices unchanged. ' . - : . ■ CoDra—Firm. . South ■ Sea,,.in bage, £24 v (Eec. August 15, 9 p.m.) - . London, August 15. Three Australian wheat cargoes. have been sold at 395. 3d., 395. 6d., and 395. 9d. . THE METAL MARKETS. 1 By Telceraph—Prose Aseociation-Coßyrieni. ■ ■.'■'■ '"■-. London, August 14. ' Copper.—On tho spot, £56 3s. 9d.; three < months, £56 Bs. 9d. . .. Tjn.-On'-the spot, £154 12s. 6d.; three months, £154 2s. '6d. Silver is t Quoted at 24Jd. per ounce. . •.'■'-' ATJSTEAIiIAN : WHEAT MAEKET. ByjToUErnDii—Press Associotion—CoDyriehl -.. / . (Eec. August 16,. 0.40 a.m.) ■ ' . ~' . Sydney,: August 15. Tho. wheat market is very strong, and shippers, arc. offering ~ 45.:. Id. .to 45.. 3Jd. Holders want 46. 2d. As a result of this, flour, has"advanced ten shillings a ton, and -best 'brand? are now' at '£10." / - ■•'■ ,:■■' HIGH-COMMISSIONER'S CABLE.'' > Commerce and: Tourist Division of thb Department of Agriculture, Commerce, and Tourists has received the following cablegram * from the High Commissioner for.Now Zealand, dated London,. August 13: — i ■ . ■ ' ' ' .Mutton.—Thero has been no material , change:in the market.- Stock on hand is moderate.. , There, is a:scarcity ni prime quality mutton. .Average Drico to-day-for Canterbury,. 35d.; North Island, . 3id. per lb. " ' \ '■''.'■ La:mb;—Tho market is firm notivithstanding large' receipts. .The output is satisfactory.' Demaad..Js chiefly for lightweight; heavies-are- , difficult-.to sell. No change in prices, viz.-.-Canterbury, 5d.; other ;thau Canterbury, 43d,. per. lh. ■, Beef .—The market shows Bigns of weakness. -Sellers have taken advantage of a small supply- of chilled. New Zealand ■beef is-being pushed ■ for sale. New Zealand hindSi'-.Jid.;. lores, 2Jd. per lb. market is steady, and a fair business doing. . Danish, 114s. per cwt. (some Quality-is not. satisfactory); Siberian,. lois:-i>cr cwt.... Cheese.—The market is firm,' owir.s to reduced supplies, a, fair demand continues White; 57b. , 6d.; coloured. 665. 6d.; Canadian white, 545., coloured, 555. per cwt. market is Quiet, and small Business doing. New. Zealand, good fair, onepot, per ,ton, £24; fair grade, £21 bs.. Fair ■ current Manila, £19 10s. . Forward shipment,. New Zealand good fair, £23 155.; fair, £21. 'Fair current Manila, £20. Tho output' from Manila for tho week was a.OOO bales. :■'/'" Cocksfoot Seed,—The market ■is steady, and there is a. good demand. New 'Zealand Beed,' on spot; 645. 6d." per cwt. - (171b. per, bushel); forward shipment, buyers are not keen to do business in cocksfoot seed. ■: Wheat.—Tho .market is steady, and a 'fair business-doing, on spot.- NochanKoin price. , : New' Zealand long-berried, ; 34s. , 6d.; short-berried, 335. 6d. ■ Oats.—Market steady at last quotations. New Zealand oatal short SpaTrowbilis, 18s.; Danish, 16s. 6d. . ~.,: ; . ' \ . ; .";BEt>hs;'—Market steady at last Quotations.' New' Zealalid' beacs,' f.a.0., new. crop, 355; : Peas—Tho market is dull, and supplies are large;-. '.v;' :.•'".- '..-■■:. ■• Wool—The market is. firm, with hardening tendency. .•■•-;.•■ . '

were the quotations:— • ■. ■' .'■ . ■■•:' -.Buyers. Sellers. Sales. ■-■•,■' v ■".. - ! . £ s.d. £s.d. £ B.d. Bank N.Z. '..,, 11 0 0 — Equitable Building. 9 10 0 .--''■'-.■ Metropolitan 12 0.0. - • -:.: N.Z. Loan and Mer- ■•■'.. , ;. cantilei ;....,. : - •■•.-.■0 12 6- — ■■ ■Wellington Invest. Oil 0", ; — •; — A7ellington Trust and ;. < ; j::, . .V. '■ Loan, ■...'.......:. ' 7 9' 0 - - - ' —. Wellington Deposit'. -.-. (19 0 : — Wellington Gas (£10) 18 26 V ■■■'_; . — ... Wellington Gaa;(£6 ■' -' '• . 15s.) .;.:.;:.;; .....1312 ■&■■ ---'.■' — N.Z,: Insurance , .-...'3 17-.0 , — — " Gear Meat. ijE4)-y ; ...'10 5r.0* . !- .-..— '• Gear Meat'(£l) ;:.:..• 2'15'.'O. — . Moat Emort (£212s. , '■ ' 6d.) >- i i\. t .-■,»—■:■■., Well; Woollen (ord.) — - — 310 0 Well.'Woollen (pref.) 212 6 . — ,- - ■Taup'lri ,Coal i...:..:. , .'..-,— ,■■■.«!-0 9 - N.Z.r Con. Dental... ' — ■»' 1". ; 2 6 '• — N.Z.'VPapw. Mills... i 2 i-' •-'■■ - Sharland'a ord/ ■'...,'1 2 0 — Sharland's pref. ...120. — . .;'—\ Taronaki Petroleum — . 011 0 — TaringaniutuTotara 110 0 . \ — 110 0

: : '-'. ..,'■.': N.S/W. ..Queensland.. Total.' ;Ycar: Tons.' '.Tons. ; Tone. 1905-6 ............ 201,998 ■"■' 1,415,745 , 1,617,745 1906-7. ..;..: 221,560 1,728,780. 1,950,3* 1907-8 277,390 1,665,028 . 1,942.418' ■1908-9 .,144,760 ■ 1,433,315 ' 1,578,075 1509-10 -. : 131,081 ' 1,163,494 ■: 1,294,575