COMMERCIAL ITEMS.

Dominion, Volume 4, Issue 941, 7 October 1910, Page 8

COMMERCIAL ITEMS.

~" ■_-;]■:/:-: INVESTMENT SHAKES : — There -were'"-no-transactions.' in investment shares yesterday, "and .'the.quotations were without change.•- .■'•'•',-.■ . Buyers. Sellers ■'..■::■"■■■ '■ ,-..•-.-.■'•'...■ ':••-'-. JBs.d, '■ :.V£"s. d. National ■ Bhnlt'. .:,.:;:.';: 5" 15 ;0 5 16 6 Well. Dcposit-.'..i.................,-iO-8 3 .08 .9 Well; Gaa (£10) ................. .-■ '19 5,0. ■Well.-Gas (£6 15a.) ...." - ; . 14 0 0, Well. Gas (new issue). .',.— ... 215. 0' National-Insurance- ...1,11 0 — N.Z. Insuranco;.., v--,-^. 0 " : ■'• ~7 „ Standard Insurance 1 .5 0,1 6 0 Christehtirch Meat- ••• ,14:-,0 . 0; .. - > ■Gear Meat (£4)" ...'..... 12 5" 0 . . - Meat Export (525. 6d.) ..... ■. 34 0: Taupiri Goal'. .'.........;.... :•— 10 6 ."Wc-stport Coal -:. .., .-■—'. 5 5-2 •Wcstport Stockton. 0. M; 11 3 -Lcyland -Olßrien ... - : 1 7" 6 Manning and Co '. 4 2 6 — N.Z. Con. .Dental .....: — , •, 12 0 N.Z.. Drug .......i'. -'- 2 11 6 dharland's. (ord.) — 12 3 Taranaki Petr01eum,........ .■. — 0 9 3 Taringamutu Totara ..... — 2 3 6 IWard'and-Co. .., .......5 2.6 ' 5 4 0 .'■■'." THE WOOL MABKET. • . The London wool market" is- weakening, and while merino: is [airly steady crossbred wool has declined as much as 5 per cent, on the opening prices. This is somewhat disappointing after the excellent pro--1 misea at the opening. This somewhat

sudden easing is most probably due to the advance in bank rate causing money to be dearer'. Spinners and topmakers aro not pushed for supplies, that is to say thoy probably have enough of the raw material in hand to carry them over to tho December sales, if not longer, and as a big/Australasian clip is in sight, thero is no reason. why they should fill their lofts with raw wool, and pay heavy bank rates for the pleasure of doing so. Tho position of. crossbred wool when the last mail left London appeared to be exceptionally, good, and the special correspondent of an Australian : contemporary, writing under date August 26, thus referred to. the matter :*-■

'As regards . tho ; general run. of crossbred descriptions, no further development of any comprehensive character has occurred., Taken:as a whole, a good, steady business is going on in-these; which serves to keep prices firm. ,The-demand is-still perhaps strongest for the coarsest' qualities, and some big deals in 32's and 36's have_been;carried through within the past few. days. In prepared, that is, long combing:.4o's, the quantity changing , hands is decidedly less than it. was, whereas the shorter Ws and 46's carded top's are being more freely absorbed than was previously tho case... A good many of theso have re.cently. been secured' on Continental account, and further offers have been made .for; export, which'the mailers hesitate to accept, being of opinion that they ought to. get more money. As a matter: of fact, -topmakers' all round are sticking out for an advance, and, unless their ■ customers agree 'to - give it, they prefer, to. hold.on, to, their stocks.' ;' They might* view the position somewhat differently If they could see : any means. of , replacing what they sold, , but ..tho. raw material is hard ■ to. come by. , At the July, sales in; London the quantity of greasy, crossbred was far from extensive..;.At the. next sales it .will be considerably :less, and thereafter- there will, be almost'nothing to be had until well on. in'the mouth of January. Casting about'for what they require,- the topmakers, have tapped, the Mazamet-market pretty considerably, and beliovo they have secured some scoured skin crossbreds at relatively moderate prices. All• this, goes to' show that the available supplies ofcoarse and medium crossbred wool are re-: duced to harrow, compass; that the shortcoming, in,;the . Kiver Plate produce .is making .itself felt, and topmakers seem to'entertain little doubt'that when they coino to London on, September 27.'they, will be, 'compelled," .willingly; or unwillingly'; ;'to pay an advance.,' Spinners of the coarEor counts of .yarn: are' extremely busy.; one might; almost say to an' uncomfortable' extent, owing to the difficulty they experience' In'.kecplng pace with the requirements- of. thejr; customers." , ;

:' i /,;;..■ world's wheat ''. crop.(' ;■' ■';■; ;'. Beorbohm's preliminary estimate ■of tho .world s .;wheat■.crop ;of 1910 .places tho .total:at.-.436,500,000'-'Quarters,, and this.compares,with'tho previous, thres ''years- as tinder:—;//'..';./- ; v '-;•'■ .-•■■, .-.,' ; -.//.' ';■ -/Year.'; / ■-..' •,-'-., .',/:;. ,' /Quarters! '/' / • :: J2J2- •—••.••■• '»'..;..;.;.-.;.J-; «6,500,000:. - /,' •'•■■''■ 'S '■""• •••••»»••■•......•.:.' <55,520,« V - -". : -'•'■'■;' J253- ■—-.'■.•■-...........'........... 399,065,000 ■:'■.' , ''':: ; :- The-total-estimated: decrease; this' year; as" compared with last year- is, 19,000,000 quarters,, or- 152,000,000 bushels, but the'total is much larger than.ih 1908 0r.1907. .The reserves; of--old wheat' carried,, forward this year-are much, larger ,than:-.in .1909. (when they were ,very'- small), .probably.., to i.the extent. of . fiilly, ■. 15,000,000.: Quarters, /and-nov much,, if. at-', all; in excess 'of. ordinaryyears..: The; rcQuirements;.: of importiUK' countries.:.this.;6cason:wiU ; not, in the aggregate, 'according,to present indications, bo. much larger, than in'the . past season; 1 Prices, are; therefore, not likely to : see any material .improvement... 02,' those current just;-now,- and it would occasion no sur- : pi;iso..if .prices receded. ;.'.. .':. ■;;£i *■:''//"PIECES OF/EIGHT." ..-"-''

,Under-' tho romantic: title of -"Pieces oi' wight" Syndicate, .'Ltd,, a 'little■■ oompany. with a capital of £2000 has, been-formed to. fish for, treasure in Tobermory' Bay, Isle oi- : Mull, Scotland.. .It appears that an Italian galleon of 10D0 tons . burden, • nameu.' tne: Florcncia/ was attached to the Spanish' Ar-' ,mada,.ahd.cara6.to grief in tho:bav in tho' autumn of. 1-538. . It, contained,: according/to - rumour—which,- after: 400 years is, perhaps, a.trine musty—.'3o million'of money'."',This is,;m'ore -than a little 1 vaguo,, but the' -pro--' motors,'; calculate/that-/the vcash;.-"may: -W worth. £750,000, and that'possibly.otherloot in.the/shape:,of.gold cups,.silver'plate,'and■' crucifixes, may be:picked up.also. During : the/ several ' centuries.'• that'have elapsed since,;;tho,' : Flbrencia , went •: under,: '• some pieces of eight, ..cannon', balls, 'scraps of timber./and: other trifles have been- fished' up. from ,• time to: time, and it is; argued •that;,the vessel ls.buried'.in tho iba-nd »6mo 80; yards .from': the: steamboat ,pier. : An amusing clause; in the- states .Aat every-, holder, of..' 100- 'shares will .»» .allowed to:, go. fishing'-.: in .Tobermory ■ Bay P?. : : lu ?\pw n account for 'tho treasure, -providing .ha. does not interfere with the company a-arrangements,- and if he locates tho' .pile™-ho. ; will' bo; entitled -tea bonus' up to £1000," '■■. , - '-,' -. -■-'~ , ..-

revenue.oollected -iit'-;the.port ! bf' WPllington .-.yesterday ■ amotmted to £4699 105.: : 3 d. :-.; ■;,; ~',-' .//"--■:-.:- ->.; *

/// : ;y SUCCESSirrJL .HOKSE;'SALE...-■'.' V Messrs.: DjUgety and/Company, Limited',' Sydney: and. '-St. G:'.Cater, Wellington, iNew boutn Wales (m conjunction), report, (having; conducted;, a .very successful:. sale of Jiorses- at the', Wellington-.'saleyards, oh: .September. 22: and ,25, -the hammer being wielded „ by. the' former. company's .auc-' tioneer,. Mr.\ ;T.VK. A 'ilno' selection of /."well-bred draught horses, in-' eluding , three' consignments direct • from New, Zealand; was offered. 'There was alsoa., good'-yarding.: of local, draught, van. and lightv'horses. ■ißiiyers - were prcsen; from■ Sydney;..■■Albuxy; Wodonga; Berrignn. Coolamon,. Wyalong,. -Forbes,.--Parke's: Mo-' ■long.v Orange, : Cunnock:, and -in, addition there . w^as, the usual local district buying power. .Despite the, fact, of a dry season, and the unfavourable prospects of a' good harvest, there wae" good competition; particularly.: for." active and heavy..- draughts of, good; quality.- X choice line I, of ■ twelve draught■ mates -'from.Duuediri (New'.Zealand);- sold up .to . £68,: and mado the/excel/ lent l ; average"Vof;,£sl,los. .per head. : :'An.other lot of 30. active.farm horses averaged £32',per'head. Aipair of grey.farm mares, were knocked down at £93. There was. also free bidding for van horses and. .the better.: classes.. of ; light sorts. This ■'war ,the inaugural'sale of the.above- agents, ; 'in~. conjunction, at/ Wellington; Now South Wales, and:it.is intended toimakelthe' fix,'ture.an annual one.'■'.■ ■•-.■:.. "..

SALES. // "./. '/' //' ■' ;;/PKrcES'/^OHANQEI): ! /"/ ■■''>,"' By Telegraph--JPress Association—Copyright.- '':■•:;-':;- ' London, October .s.■■-'■ At the wool sales-there was. good general' competition;, with prices. unchanged. ".The top price realised, for the.Manganui clip.was lid., per lb., and the average 9gd. //■/LONDON SALE DATES.- ... BV Telegraph-Press 'Association-Copyright. !//;, V;(Bcc. October 6/9.45 p.m.)'.-■/ ...;"-, 3'■'■-:--■: - ',- ; ' '■'■ "London, October 6./ The first sales of the forthcoming series has-been tod for January 17,: and .the second for March, 14.- No liniits havo been fixed as to the quantities. to bo offered ~: Series .3: will: begin ohM'ay 11, series 4 on -July -11, and No. 5 on September 27. The■■;limits for- the offerings -for 'these will be deoided later. The sixth sales will begin on November 5, and for this the offerings; will-be-unlimited. -. , . :.' :; '•''-■ ;tS'ec. October 6,'. 9.45 p.m.) ."//■' /,.' ./::' London, October 6. ■■"■ • The wool sales included the following:— Gear, top price, 12id.; average price Hid • Maiwelltown, 13Jd. • '-',',.- .'Messrs.: Dalgety and Company,.' Limited report having received the following cable' advices .from; their London house- under date October 5:—Wool saies: These have been fixed'to open as undor:—First series January 17; second series,.March-14; third series,'-May-9; fourth' series, July 11; fifth series, September 26; sixth series, Novcmber2B..ln regard to the .first, three series, ..the number of bales offered will bo unlimited, and ■ all ' arrivals up to"within eight-days of the opening of the sales will be admitted.. In,regard to the last. throe series, the. limit, if any, is to be fixed later on.' ; '.■■.;-.- -.';'■■.- -'/'■.•',. ■ The New Zealand Loan .and Mercantile, Agency Company, Limited, have received the following cablegram from their Lon-? don house, under-date October 4:—"As compared with last sales' closing, rate's, prices are about the same, for medium , greasy crossbred, lambs, fine greasy crossbred, and faulty descriptions; and:higheriabout par to 5 per cent.. for; crossbred-.- slipe; coarse greasy crossbred, merino, and scoured crossbred.. Market quieter for crossbred, wool.";. -, ■- ■■•■:.'.', : .. •. ; /.METAL : MAEKETS. - | By Telegraph—Press Association—Copyright. London, October. 5; ■ Oopper--On the spot, £55 10s. per ton; electrolytic, £57 17s. 6d.- -■-.•..-.!. , . . Tin—On the spot, £158 15s. per ton; three months', £158 ss. .-/'-• , Load, £12 16s. 3d., per ton. ..(Bee.'October.6,-9.45 p.m.) . . : /: London, October 6. Copper—On spot, £55 Is. 3d.; three months', £56 18s. 9d.; electrolytic, £58 ss. Tin.—On spot, £162; three months'; £159. The market -is strong, .owing to reluctance to sell. There is a good inquiry on American account. Lead, £12 17s. 6d;'■-.-. . V •;•'■/: TALLOW. ' ' By, Telegraph—Press Association—Copyright.' London, - October 5. At the. tallow sales 829 casks were offered and 761: sold. , Mutton, line, 41s. 3d. ' per cwt.; medium, 375..6 d.: beef, fine,'3Bs. id,medium. 375. :

AUSTRALIAN PKODUOE; MARKETS. By Telegraph—Press Association—Copyright. ' .(Eec. Ootober 6, 11 p.m.) mt , - . Sydney, October 6. wheat.—There is little doinu and holders ask from 3s. 10d; to 3s. lid. Flour, £10. Oats, Algerian feeding,'2s. 2d. to 2s. 5d.; milling, ,2s. 6d.; Tasmanian prime, 2s. Bd. Barley, Oapo feeding, 3a.; seeding, 3s. 2d. Maize, 2s. :7d. Bran, £4 ss. Pollard, £4. Potatoes, Tasmanians, £8 to £8 10s. Onions, £6 to £6 10a. Butter, 100s. Cheese, 6Jd. Bacon, 7d. to 7Jd. ... .... Melbourne, October 6. •Wheat, 3s. lOd. Flour, £9 ss. Oate, Algerian, Is. lid. to 2s. lid. Barley, prime malting, English, 4s. 6d.; Oapo feeding, 2s. 6d. Maize, 2s. 4|d. Bran and pollard, £4 10s. Potatoes, £5 to £6. ss. Onions, £4 ss. Adelaide, October 6. .. Wheat, 3s. lid. wanted. Flour, £B ss. to £8 10s. Bran, £11 10s. Pollard, £11 ss. - ' MELBOTJKNE-HIDES MABKET. By Telegraph—Press Association—Copyright. (Eec. October 6, 11.0 p.m.) Melbourne, October 6. At the hides was an average offering, and prices were firm all round. 1 '', FEOZEN MEAT MAKKET. ,' '.. (By .Telegraph.—Press Association.) .!j,-•''•'■' ■ Napier, October 6. The Colonial Consignment.and Distributing Company to-day cabled following report:—"Frozen Meat—Mutton: .Canterbury, 41d.; Napier, Wellington; and North Island, 3Jd. Lamb.: • First quality, ': 58d.; second, 5Jd. Beef: Hinds, 3*3.; fores, 23d."..' ■;:..: LONDON■':MAEKETS.' /■';,'' The.;New'Zealand Loan and Mercantile Agency. Company, Ltd.,- havo received the 1 following cablegram from , their London house, under, date October s:—"Wheat—We, quoto nominally, 385., c.i.f., for Australian;' I market quiet, .but steady, and outlook uncertain. Tallow—We'quote present;'spot'; values -for the 'following descriptions:— (Jood mutton, 395; -9d ; good beef, 375; 9d.;' mixed, 365; 9d.; market firm. SheepskinsMarket uncertain."'., ;•