COMMERCIAL ITEMS.

Dominion, Volume 4, Issue 1019, 7 January 1911, Page 8

COMMERCIAL ITEMS.

- .SUGAR AND OIL. Tlie . trade in sugar and oil is somewhat . disturbed,.-owing ;te -tho anti-trust •lesislatiou of last cession coming into effcct. The deferred rebato to Insnro "loyalty" has been hilled,-, but in its place has como the deferred discount'which scehs to achieve the. purpoea. Tho Colonial Sugar Company,/allows discounts from 1 per cent.,'to 4a per cent, under certain conditions,' which are alloged to bo very drastic. A merchant to eccuro the 1 Eer cent. discount, .it is stated, must uy. £500 worth of sugar for cach of sis month©, and at the end of tho period the discount is - paid. . Should the merchant buy £400 worth one month and £6CO 'the nest month, ho fails to sccurc the discount. Tho Sugar' Company does not average tho purchases of' merchants, and as far aB /( thev'cpmpany:i3 concerned, thin itf aulte'.right," because in. tho month when tho smaller purchase is made, the \morchant may be supplementing his r,tock buying from competitors, and it is nd business of tho company to foster competition. Oil Company is making fitrnight-out # .sales, and has placed merchants, retailera', and consumers on' a common basis. It is stated that single tins of benzine, naphtha, and other by-pro-ducts of petroleum can bo purchased from the company." The price of kerosene is lfrjd. per gailon, and spo-t each pun-hascra get a discount of id. per gallon. Tho merchants are believed to be , selling the oil on better terms than- the company. Tho merchants are Quoting 103 d. per gallon, with 2} per cent, discount if paid in thirty days, tho company is not giving any discount on-deferred payments. The business is somewhat disorganised at tho moment, but it will. soon, settle •' down, and each party will know - exactly what ican, and cannot, bo' done.,. • ' ' . THE EEBATE SYSTEM. Tho Anti-Conference Bill pasecd- by tho Legislature of tho Straits Settlements has been • forwarded • to the Imperial authorities for..consideration, and the granting of the Royial. Assent. Ia order to explain the causes which. have induced tho Straits Government to take up thifl matter; explains a correspondent of tho "Financial Times," it is necessary to recall tho

development*? which have occurred in tho reennt years. Prior to 1896 efforts had been made to repv.latc by private co-opera-tion freight rates to and from Smgaporo and other ports in that part of the world, but it was found impossible to arrive at any dehnite arrangement without tho support of all the leading shipping companies of whatever nationality which trado there. In 1897, however, after pro onged negotiations, matters were arranaed, and since then a closo rins .has cxcrcisao control over all nuestions connected with freights t-o an $ from tlie iddlo 1-ast. The effect has been to bring about a substantial increase in tho general level of ohipping changes, and particularly in the case of rubber, for whereas the maximum charge for this cargo prior to 1896 was 225. 6d. per ton, it has since risen to 405., while in the case of tin the advance has been from 10s. to somcthmq over 3f«. Instances of this kind might bo multiplied, but the position of thufo two widely dissimilar articles is sufficient to fihow tho effect of the operations of the conference. This body includes , twenty-oiio shipping companies of various nationalities who control between them tho tradeof the Dutch East' Indies, Siara, and Indo-China. By means of a system of secret rebates the position of tho confcTcnco ,hap become so powerful that it is now practically impossible for any lino not associated with tho ring to attempt to-compete with it. This, at any rate, is tho opinion of tho local authorities, and the measure which has now passed tho Straits Legislature is designed to curb the power of the lines included in tho conference. Whether or no tho measure will be successful must, of course, bo left for events to prove, and it is impossible at thi3 juncture to express any reliable opinion os the matter. The most that'ean bo said io that it. expresses tho views of tho authorities in tho Straits on a matter of great importanco to tho commerce of that region. Moreover, thero can bo no. doubt that a considerable amount of discontent exists in the Middle East towards the shipning companies who have, it is contended, during thd past fourteen years raised freights to an un'duly high level. Tt b provided by the Anti-Conference Bill v that the Straits Governdr-in-Council shall be empowered to publish the names of steamship ov/ners who refrain from adopting any agreement designed to maintain freight#? at an artificial level, whilo another and still more important provision is that which impose* a duty payable to the Colonial Treasurer on bills of ladintr. with a- view to providing a fund which shall enable thoss shipowners who fTr> not in • tho ring to comneto successfully against their rival*.. who have behind them the advantage of a e-eerot rebate. The Bill is in many respects on experiment-, and there are few who believe that it will entirely achiovc the nurposo for which it has been designed. But tho fact that the Government has taken action is itself of importance.

• WELLINGTON. MARKETS.' iressTS/'Laery and Co., Ltd.. Wellington, report' wholesale pricce ruling on tho market:—Wheat, fowl, 4s. to 4s. 2d.; feed oats, 2i*. lOd. to 35.; Dun oats. 35.; seed oats, ' 25.. lOd. to 35.; Algerian eats, 35.; ryo corn. 3s". lOd. bushel; maize. 3s. 3d. to 3s. 5d.; crushed malt, 75.; fowl barley, 2s. 9d.: Cape barley seed, 35.; Hour, New Zealand, £9 5s- to £9 155.; peas, split £18. partridge peas ss. 3d. per bu<shel; bonedust, £5 155.; superphosphates. £5 to £5 55.: basic slag, £4 10s.; pollard, £6 15*. to £7; bran, £5 lGs. to £5 155.; pißmeal. £5 per ton; pearl barley. 155.: chaff (oat'nsheaf), £5 ss. to £5 10s.; potatoes, America, £13; new- potatoes, ss. to 6s. 6d. per cwt.; onions. Victorian, £7 to £710s. per ton; molasses-fodder. £5 10s ; bacon (factory), sides 7id., hams 9d., rolls 8-Vi.; butter, prime bulk 9d. to 9Jd. Poultry, hena. 3s. Gd.; duck??, 3p. fid. to <s. 6d. rer pair; turkeys, gobblers 18s." to 20s;. hens 10s. to 14s:; fresh eggs. Iq. Id. to Is. 2d. dozen; cheese. 52d. lb.; Aknroa machinedressed cocksfoot. Bsd. to 9d. per lb.; farmers' dressed cocksfoot. 7d. tier lb.; ryegrass. 4s. 9d. per bushel; Italian Tyegrase, 4<3. 9d. per bushel; 'white clover, 105s. Der cwt. • ;

Customs roTorino collected at the port of Wellington yesterday-amounted, to £2016 Is; AMERICAN WHEAT. • By Telegraph—Press Association—Copyright. London, January 5. Tho American visible supply of wheat is , estimated at 78,651,000 bushels. - SILVER. . " By Telegraph—Press Association—Copyright.. '. London, January 5. Bar silver is Quoted at 25 3-16 d. per ounce. ■ ...... LONDON MARKETS. : Messrs. Dalgety and Co.. Ltd., havo received tho fofiowir.s cab). ;ram from their London houso under date January 5 Lutton: Prices arc Id. higher owing to: small-supplies of Australian.. Lamb: id, to Sd. per IU. hnver owing to heavy supplies. Demand continues good, but ex-

nect if any take? »place it will be in favour of buyers. 13ecf: Unchanged; quotations are jiomiuril. AP.GOTIXE MEAT REPORT. Tho Coninierce and Tourists division cf the Department of Apricußure, Commerce and Tonristp. hsiu received tho followin" cablepcram from Buenos Aires, dated January 4:— • The following shipments of produco wero dispatcned from the Argentine to United Kingdom ports duvinp December, 1910 (compared with December. 1909):— 1910. 1909. Pro7/cn beef ... £7,319qr5. 160.33Scirp. Chilled beef ... 154,685qr5. 116,593 cii-»>. Froaen mutton 150,254c'cp. 165,CC0e'cs Frozen lamb 95.651c*cr. 34,075c*c5. Butter ' 5,3-10cwt. 9,439cwt. ■ GRAIN- AND PRODUCE MARKETS. (By Telegraph—Press Association. 1 . ChrlGtchurch, January 5. Tho grain and produce marhctn have hardly settled down since the holidays, ana no buaincr-s of any importance has vet passed. t It was reported that more old ;whoat is now ,orfering, especially from tho Asliburton district, by holders, who havo been waiting to sec how the new crop is likely to turn out. Prospects for the latter aro now excellent, and fine weather is now needed for harvest. In view of tho greatly improved condition of prowing wheat .buyers aro not anxious to do businccs in last leason's grain. . It will depend, upon tho condition in which tho new crop is harvested a 9 to whether much old grain will bo reouired for mixing purposes. . • • A few samples of new Algerian oats havo been submitted, hut no pricc has yet been agreed upon. Somo progress has been made with tho harvesting of oats, and stacks ar© now to be-seen in several'districts. . For now barley that has been on tho market the prices asked are above what merchants deem is advisable to give, with a view, to a'turnover.- Somo business is reported to havo boen done by brewers direct with owners, and it is reported that a line of pnmo malting has been purchased at ss. 3d. The rains havo made a marked difference t-o the potato crop, and It is now giving promise of a good yield.

WOOL SALES.

THE AUCKLAND SERIES. (By Telegraph—Press Association.) Auckland, January 6. At the first sale this season, the wool offered totalled eume 6400 bales,' and this will bo topped by about 600 bales at the second sales, which open or. Wednesday nex& in Auckland. Some very fine wool has been catalogued for next week, and apparently growers have paid more attention, to tho get-up than they did.a yea.rago. Most of-the stuff-coming forward is coarse crossbred. ' : QUOTATIONS AT KAPIER.- * (By Telegraph—Press Association.) , Napier, January 6. .Tiio third wool salo of this season's series took plaeo yesterday, 16,014 bales being catalogued. Prices; were well up to last sale rates. ' Coarse Lineolns and faulty wools showed a drop of from 3d. +o *d. Tho bulk, of the offering was medium and coarco croeebreds. Bright medium and coarse crossbreds brought Bd. to 9d., the same rates as at last salo; dingy cross-

brod, 7rl. to 7Jd„ a drop of id.'; fino crossbred, IOJd. to Hid., a. slight dccrcac?. Piccen and locks showed a declino of from id. to id. Tile tap price for fino hn If I) red was 12) d.. -l;d. below top m'icc at last pale. Fino ltomncy rrosebred sold at 11-id. A number of Honinoy-liincolii clirrs sold well, ;it- from 9Jd. to 102 d. There wafi 1 ;ni irregular market for lambs' wool, and many lots were passed in. Considering tho weaker tone in the Bradford ar.d Wellineton reports tho salo was satisfactory. WOOL, SKIN, AND HIDES. Messrs. Abraham aud Williams, Ltd., report:—Wo held our first, wool, skin, ana hido salo of 1911 at Palmerston North yesterday, and offered an average' catalogue to a good attendance of buyers. Bidding for wool and skms was no', keen, owing, no doubt, to tho fall in prices at the recent wool salo in Wellington. Calfskins and hides r.old readily, but prices were lower ■than last sale rates. Wo quote :-Wool: Crossbred, fin?. 7id. -to Brt.; crcesbred, medium, 6id„ 6?d., 7il. to 73d.; dead, 7d. to 7fd.; Southdown. Bid.; lambs, <Jd, 55<1., fid., 7»d.. 73d., to -Bid.; black, 6d. to Gid.; locks and pieces, 2*d. to 4?d. Skins: Crossbred, medium to line, 63d. to 7id.: crossbred, medium. 55d. to 6H1.; inferior, AH ; dead, 33i1., 4ja.. to 53d.; hoggets, 4»d.; lambs,, 42d. to 6Jd. Salted crossbred skins, 55.; raited p;!ts, Is. Id., Is. lCd. to 25.: lambs, salted, 2c. 4d. Calkskins: Sound rah, Egd., Bid. to 91d.; C'.'.t. Sid.; drv, sd. Hides: Ox. heavy. 6?d. to 63d.; medium. 6Jd. 'id. t0 6 3d.'; covr, medium, 53d., fid 6Jd„ 6',d:; light, 53d. to 6J.d; cows, cut, 58d.: heifers and eteers. 5Jd.; bulls. sd. to SJd.; horse, ss. 6d. Tallow: Tins £23 15s. per ton; casks, £24 to £26 per ton.