COMMERCIAL ITEMS.

Dominion, Volume 4, Issue 1100, 12 April 1911, Page 10

COMMERCIAL ITEMS.

INVESTMENT SHARES. A sale of Feildine Gas at 235. 6d. was the only transaction in investment =harer> recorded yesterday. The buying and soil|ing quotations were as imdor:— Buyers. Kellers. £ s. d. .£ f. el. National Bank — ■ 6 10 Wellington Investment ... 0 11 3 — Well. Trust and Loan 7 13 0 — Christchureh Gas 9 12 6 — Well. Gas (£10) - 19 0 0 Christchureh Jlcat — 16 5 0 Meat Export (525. 6d.) ... — 5 7 0 Union Steam :'. 2 0 6 — Kaiapoi Woollen 5 5 0 — Well. Woollen (pref.) 3 0 (I - Taupiri Coal 119 - Wcstport Coal - 19 6 Leyb.nd-O'Brke 16 3 - Manning and Co 411 0 — Jliramar. Ltd - 0 2 6 N.Z. Con.. Dental 12 9. 126 N.Z. Drug : 2 8 5 — N.Z. Paper Mills 13 6 - Sharland's ordinary 14 0 - Sharland's preference ... 1 4 0 — Taringamutu Totara 2 8 3 2 8 9 Ward and Co i> 0 I) —

; EXPLOITING COLONIAL BUTTER. According to reports from London tho methods of tho people who manipulate the market for Australian and New Zealand butter are causing crcat dissatisfaction. The exploitation of colonial butter is a subject which is now being debated in ths, "Grocer," and many and bitter are the remarks made by big and small buyers who think themselves injured. One of tho letters states: '.'lt was the president of the Bristol Provision Trade Association who said, at one of their meetings, that tho trade in colonial produce was :i monopoly iv. the hauds of about half a dozen firms. It is rjuite amazincly true, and. to their manipulation is mainly due the congestion of the article on the London markat. tho apathy of the provincial markets, and their reluctance to handle it. The clifino want the buyers of tho five-bos lot;, and want to compel , the nujrrs ot wf'box lots to come in o:i the same tyriu~. Tho prices are fixed in secret concavenot in the intore-t of the colonies, but to suit the 'book' of the few and their- speculative deals." The cist o£ the complaints seem to concern the up-aiid-down market movements of colonial butter earned bv "manipulation." Thus.the buyer is afraid to cut colonial butter regularly, because he knows not what a week may bring forth -in the way of nrice. '

THE WOOL MARKET. Tho position of crossbred wool, when the last mail left London on March 3, was not more satisfactory than for some time pant. The correspondent of a Melbourne daily says:—"lt is true that juet lately an increased demand had been experienced for the upper section of medium quality crossbreds. those known in Yorkshire as 48's and <6's quality, as a, result of which prices have firmed up: Wools at the extreme low end 36'rj and 32's continue to be greatly sought after, and are tending to become scarcer, but the intermediate! qualities. 44's and 40's, are still comparatively neglected, and consequently very irregular and weak in price. These- of course constitute the great bulk of tho colonial crossbred production, and, imlew thsy are in demand., the situation cannot he'regarded as satisfactory, particularly from the point of view of producers in New Zealand, i

In some quarters in Yorkshire the view is: l:e!d that the strength of tho coarse, bright, lustre sorts must, ore long, affect the qualities just afcovc them, and this does not seem ns unreasonable expectation, provided that tho reauirement for the lower grades continues. Hitherto the demand for,3s's.and 32's haa been attributed' toi.thei'OTte'nti.-tb' Which' bunting was being manufactured iu preparation for the Coronation festivities. But the time fa now so far advanced that one would imag- 1 ine the raw material necessary for the specific purpose must have all been acquired, and, as already mentioned, tho demand for the coarsest wool still continues at full prices. Another point, which encourages those engaged in what is known as the 'prepared' (far long combing) <o's trade, is that the proportion of suitable wool to bo fonr.d in the now clip lrom New Zealand is decidedly less than usual."

OPERA HOUSE COMPANY. The annual report of the Opera, House Company, Ltd., has already been published. At the anuual meeting the reDort was adopted. It provided for tho payment of a 5 per cent, dividend in all fo'r the year. Tho question of electing a. director in place of the lato Mr. Henry Flockton war. referred to shareholders, and it was moved by Mr. Osbornc that Mr. J. H. Tlockton be appointed. Mr. Wra. Freeman moved that, until further notice, and until determined by a general meeting .of shareholders, tho num. ber of directors should be four.

Mr. M'Lennan thought that the'reduction of*, tho number of directors savoured too much of a close corporation.

The secretary. Mr. W. M'Lcar. (who is also a shareholder) askei! that the number of paescs be reduced from six to four. Several shareholders were of opinion that tho meeting was sojnz outside Rule 30 in permittinc the introduction of extraneous matter, not in the report, without notice boing given.

The chairman (Mr. W. C. Gascoisnc) admitted both propositions. It was decided by five votes to three that the number of directors be reduced to four, and the number of passes an: to be reduced accordingly. Mr. T. G. Maciirthy waa re-elected to tho directorate, and Jlr. W. C. Stephens wan appointed auditor vice Mr. 11. 11. Lyon. deceased.

Customs duties collected at the port oi Wcllinuton yesterday amounted to £29:5 15s. 4d. TRADE IN ALLEN STEEET. Fruit—The Hauroto. with transhipment,; ex Talunc from the Cook Islands, arrived in port on Tuesday, landing 35C0 ensea of oranges, and about 400 cases bananas. The Aorangi also reached port on Tuesday from San Frar.ciscD, via. the Cook Islands, with further consignments, and tho fruit opened mostly in good order, and sold at fairly satisfactory rates. Tho Sydney steamer is due to-day with frerh supplies, and the Melbourne boat is due on Thursday—a day earlier thai usual—bringing pears from Victoria, and irrapcs from South Australia. Choice dessert apples are hi trcod demand, and up to 10s. Der cafe has boon obtained during the past week. Cooking apples have a tendency to firm. Lemons arc in shoTt supply. Tomatoes continue to come forward in larcro quantities from the Hutt district, the current valiio being Vβ. to 3s. 6cl. per halfcase, according to quality. Tho supply of peaches is almost exhausted.

Vegetables.—Tlio usual demand exists for cabbages, cauliflowers, French beans, and greon peas, and there is no alteration in values. Butter.—A strong demand is being experienced for prime bulk at 10d. per lb. Cheese meets with a steady demand for both medium and loaf. Egg3.—Fresh have advanced, and are now quoted at Is. 8(1. to Is. 9d., with preserved rulins at I°. 3d. per dozen. Oatmeal—The market is firm, to-day's value being £13 10s. f.o.b. south. Flour.—Fair sales arc beins made, and the market continues steady. Oats.—The market, shows a strong tendency to harden, the f.o.b. nuotatiotis for A Grade Cartons bcintc 2s. sd. per bushel. Algerian oats o.re beins imported from Australia for seed purposes. Pollard.—A large portion ol the supply is being obtained from Australia. Bran continues at 80s. f.o.b. south. Maize is meeting with cood business. Potatoes.—There is a cood demand for prime samples, whilst "raothy" and diseased tubers arc beinc sold for what they will fetch. Onions.—Pickling onions arc :n poor demand at 7s. to 8?. per ewt. Table varieties are eelUng at Iβ. 6d. to ss. per cwt. CITY PROPERTY SALES. Messrs. llarcourt and Co. report that thers was a large attendance of buyers at the sale of properties held in their rooms yesterday. The first property submitted by the auctioneer, Mr. C. J. ti. llarcourt. was the leasehold in Tinakori ltoad, and. after spirited (lidding, Mr. Henry Jlume (actiiiß as agent) was declared the purchaser, at the price of £350. The two other properties in Tinakori Head, Nob. 10 and 12, were passed in as tho bids forthcoming did not reach the reserves. Similar fates befel the other properties submitted, namely, a five-rroomed house "ituatod in Urandou Street, Seatoim, a. property in Majoribanks Street, ai'.d Ova Motions situated in Miiritai. The patent rights anil four machines (the property of the Dominion Tat; Syndicate) were finally submitted, and, after tho bids had progressed by £5 bids from £10 to £25. Mr. Roiitley, of Kelburnc, with a bid of £100. became the purchaser. All tho properties passed in are now for private eale,

WHEAT. By Telceraph-Press Association-CopyriEht dice. April 12, 0.10 a.m.) London, April 11. Whc.it.—Two Australian cargoes have been sold at. 335. 3:1. THE METAL MARKETS. By Tolc£r3pli—l'rcss Association—Copyright (lie?. April 12. 0.10 a.m.) London, April 11. Copper.—On spot, £-54; three months, £Si 11s 3d. Tin.-On spot. £134 55.; thr3D months, £189 15?. Lead. -£12 17s. 6(1. FHOZEN* MEAT. (By Teleeraph.-Press Association.) Christchurch, April 11. Tho British New Zealand Meat and Produce Co.. Ltd., have received the following cablegram from their London office:— Prime Canterbury mutton. 48!b. to 551b. 3id.; 5511). to 6-111).. Slid.: 641b. to 7211)., 33d North Island, ordinary, -Mb. to 56!b., 3d.561b. to 641b., 2?d. Canterbury lamb, 231b to 36!b., 4id.: 36!h. to 421b-. < 15-16 d.; over s<l. North Island, ordinary, 281b. \~> 3611)., 4fd.: 361b. to «!b.. <! 3-16 d.; Ecbctrfi. 281b. to 35!b., -IJd.; 36!b. to 121b., 1 5-16 d. Beof: Hinds, 4d.; fores. P.± PETROLEUM DISCOVERED. (By Telegraph.—Press Association.) New Plymouth, April 11. Splendid indication-, of Petroleum have been found on Jlr. Her.ry Western's farm on Franklcy Eoad, just beyond the boromrh boundary. Tho farm masaecr noticed a smell of petroleum wlies removins posts, and, upon a- pit. beresr sunk. i\ considerable quantity of petroleum was noticed on ton of the water ir. it, and a strong smell of petroleum was given off. I MINING NEWS. WELLINGTON SHARE MARKET. The-market continues cuiet, and values arc weakening, except for Talismans, which and firming. Now Sylvias arc weaker, because there is every probability of further delay in starting the battery. T]io sales recorded yesterday were a' under':— Kapan&n, 7d., 9d. (Oret call). . New Sylvia, 2s. 3d. (first call); 2s. 7Jd (fsconrt call). Talismans. 51s. Jd. . (first call); 51s. 3d. ! (second call). Waihi-. 635. 9d.. 63?. 6d.. 635.. 6Js. Id. (fir=t coil); 635. 6d.. 635. 6d. (second call). Waitinsi. 2s. (first c.ail). The buying and scllincr (.notations were as under:— Bayer, , ;. Sellers. . £s. d. £p. d. Kapanga. 00 74 (10 8 Kuraniii Caledonian — 0 12 May Ouceu [) 1 8 0 1 10 Now Sylvia. 0 2 6 0 2 7 Occidental — 0 0 3 Old llauraki (115 ft 1 U Saxon 0 2 1 0 2 2 Tairun Broken Hill 0 11 - Talisman 2 II 0 2 |l s Wailu 3 3 6 3 3 9 ■WaiUi Extended — 0 2 1) Waihi- Grand Junction , ... 1 7 3 17 9 Waitanßi 0 1 11 natchman — 0 2 6 STOCK EXCHANGE: (By Telegraph.—Press Association.) ■ . ■ Auckland, Anril 11. Business at this mnnfins's call of the Stock Exchange included — New Sylvia, 2s. 7d. Saxon, 2s. 2d. (con.), 7(d.. 7d. Talisman, £2 lls.'Cd. Waihi, £3 3s. 6d. Waihi Reefs, 3s. Id. Oram! Junction. £1 7s. 6d. New Waitaia, BJtl. Northern Steam" (paid), 16s. Auckland Trams lord.). £1 ss. 6d. Business done at the 3.15 p.m. call to-dav was as follows:— Jlonowai, Is. '.d. Now Sylvia. 2s. 6d. Kapanga. 7d. Waihi, £3 3 f . 9d., £3 4s. 6d.. £3 4s. 3d. Uailn Grand Junction, £1 7s. 6d. WailU Paeroc, £1. Standard Insurance. £1 9s. 6d. Wilson's Cement ■ (ord.),- £2 Is. The Eschansro will close on Thursday evemnrc for the Ea?t<:i- hoUdai's, TconeriuiS on ThiirEday, AprU 20.

c , , _ , , Dunedln, April 11. RofK Exchange sales:— Waihi, £3 3s. 6d. &#ln?feW d - PrCmiUm - No Town Creak, fs. Talisman Consolidated, £2 11s Timaru C.as (£3 paid). £5 2s. 6d. Timaru Gas (£5 paid), £S 7s. 6d.

WAIHI GBAND JUNCTION. By Telegraph—Press Association-Copyritrht ...... , , . London, April 10. '\ai-hi Grand Junction shares arc ouotcd at 265. 3d. (buyers), and 28s. 9d. («cll"rs)