COMMERCIAL ITEMS.

Dominion, Volume 4, Issue 1115, 1 May 1911, Page 8

COMMERCIAL ITEMS.

INVESTMENT SHAKES. There were no transactions recorded on finn <f y, ~t hc - rttc M claiming more attention than business. The buyiuK and =ellin" quotations were as under:— ° Buyers. Sellers National Bank &3 -' fW National Mortgage 3 7 0 - Gjsborno Gas 3 2 6 — Well. Gas (£10) - 19 0 0 Christchurch Meat - 16 2 6 Export (£4) ' - 5 7 0 w ii % :pl ?, mg li 15 0 12 2 6 Well. Woollen (ord.) - 4 z 0 Well. Woollen (pref.) 3 0 0 3 2 0 Taupiri Coal — 12 0 Leyland-O'Erien 16 6 — Manning and Co 1 11 0 - Miramar, Ltd — 0 2 6 N.Z Drug 2 9 0 - N.Z. Paper Mills - 110 aharland's preforence ... 1 4 3 — Taranaki Petroleum — 0 14 0 Taringamutu Totara 1 8 6 — Ward and Co : .500 — .Well. Opera House 7 16 0 — The course of sales during the month of April was as under:— National Bank, £6 Is. Metropolitan Permanent, £12 10s., £12 12s. od. National Mortsaso. 665. 6d., £Gs. 6d. ISew Zealand Loan and Mercantile, Us. Wellington Investment, 11s. 6d. Trust and Loan, £7 15s. 6d., £7 IC3. 6d. Christchnrch Gns, £9 l;s. Feilding Gas, 225. 6d. Paimerston North Gas. £8 12s. 6d. Christchurch Meat, £16. Gear Meat (.51). 705.. 7tn.. 70s. Meat Export (£5), £6 85. Meat Export (£O, £5 55., £5 ss. Meat Export (525. 6d.), 675. Union Steam, 41s. Westport Coal, 295. Leyland O'Brien, 265. 6d. Manning and Co., £4 11s. New Zealand Paper Mills, 235. 9d., 225. Now Zealand Drus. 495. 3d., 495. 3d. Taranaki Petroleum, 14s. Taringamutu Totara, 48s. 3d. Ward and Co., £5, £5, £5 Is. 6d. DALGETT AND COMPANY, LTD. Messrs. Dalgoty and Company, Limited, Wellington, have received tho iollowiiiE cablo mcisago from their London oßicc, April 28;— "We have declared an interim dividend of 45. lior Ghar<-, being at tho rate of 8 per cent. per annum, payable- on and after May 15. The board of directors havo decided to declare tho increased dividend in i lieu of tho annual bonus hitherto paid." . LONDON MONEY MARKET. The market rates for short loans and threo months' Mils wero slightly lusher thaa in the provious week, due probably to ilie balancing at the end of tho month. The "other uoposits" in tlio Bank or inland have increased by over two millions sterling, showing that a certain amount of "window dressing" was imtuteed in last week. The market, however, 13 bound to become- easier this month, and reciaiu to for eight or ten weeks. With all the apparent cheapness of money, gilt-edged te--curitiss do not improve. There were comparatively few changes in Colonial Government slocks last week, and the change; wero adverse. Queensland throe and a :iail per cents, declined 17s. 6d., no toubt in sympathy with [lie unsuccessful loan issue last week. The underwriters of tho loan were saddled with 91 per cent, of the issue, which niubi be very disheartening when a Brazilian loan can be taken up within a few hours of the lists being opened. Consols at £81 arc os. lower than they wero tho week before last. With respect to the movement in Consols, tho "Manchester Guardian" of a recent date says :—"When tho London banks compiled their fisrurea for the second half of 1910, Consols stood at about 79J, which was about 1 per cent, above the lowest of 1910, in which year, of course, the lowest figuro in modern timca was reached. Several of the banks had previously written down their holdincs of Consols to SO, and virtually every important institution appropriated a. largo amount from tho prolits of the second half of 1910 to writing down tho value of investments further. Since 1911 came in the price of Consols has touched 794, while more recently the security failed to improve in face of steady purchases by the Government broker for account of the old Sinkins Fund. This was attributed to some of the banks having decided to sell considerable lines of Consols, a procedure which scams a little curious after writing down the value in their balance-sheets. Lately the security has improved considerably, and it would appear that tho rise has stopped tho seiline by the banks, though it is perhaps more correct to say that tho appreciation has been in part due to the cassation of such sellinj. In some emartera this policy of tho banks in selling Consols ia strongly deprecated. It is true that on tho surface there is excuse for it in tho great depreciation in tho price noticcablo in the last fifteen years or so, but it is a. question whether such institutions are wi=e in greatly reducing their holdinss of tho one security in the world which at all times is easily realisable. B<uiks and similar concerns do not hold Consols merely for the interest returned, but largely as a reserve to provide money immediately it is wanted in iimes of stress. The practice of throwing overboard British Government securities has extended to the insuranco companies, and the balance-sheet of one of tho most important of these, in tho snace allotted for showinK tho amount of such investments, writes thn word 'nil.'" CUSTOMS. Tho Customs revenue collected at the port of Wellington on Saturday totalled £<63u 133. Id., tho amount for the week being £12,110 16s. 2d. Compared with tho corresponding periods of last year, the receipts for the past eight weeks shows as under:— 1911. 1910. £ £ March 11 . 13,225 18.346 March 18 18.890 10 m March 25 . 21,124 13,165 April 1 10,553 12,426 April 8 23,145 17,314 April 15 10,690 10.325 April 22 16,745 15,295 April 29 12,111 10,304 £126,63S £107,514 Tho Customs revenue collected during the month of April totalled £62,7C0 11s. lCd.. as against £56,631 4s. Id. in April. 1910. The beer duty for the past week amounted to £328 145., as against £214 14s. in tho corresponding week of lost year. Tho amount collected during last month was £1255 18s. 6d., as against £1075 11s. Ltd. ill April, 1910. FEILDING ITAKKET EEPOBT. Messrs. A. 11. Atkinson and Co., Ltd., at Friday's market sold pigs at rather better values, light weight, porkers beinc well competed for. also v.-ell-brcd weaners. Poultry of usual quality sold at late rates Grain and produce linos show a hardening tendency. Thoy o.uittcd a quantity of Cape barley, wheat, and seed oats and a largo quautity of general sundries, second-hand sasks, etc., the latter keenly inquired for. Quotations:—Whole wheat, 4.;. to 4s. sd. per bushel; Cape barley. 3r. to 3s. 4d.; G.P. peas, 55., ss. 6d.; Algerian oats (100 rack line), at 3s. 4d., bag lots, 3a. id. to 45.; O.S. chaif, 4s. Cd. sack, by the ton. £5 IC-i Tablo potatoes, £5 to £5 10s. per ton, 9s. to 10s. sack, pig. 3s. sack. Pollard, 12s. to 12s. 6d. sack. Onions, ss. to 63. cwt.; pumpkins and pio melons, 4s. to ss. 6d. sack; marrows, 35.; gceen tomatoes, 2s. case. Pears, I?., to 4s. 6d.; 8.11. sacks, 3s. to 4s. £d. doz. ! Pigs: Weaners (scrubs), U. to Is. 9d.; others 2s. 6d. to os. 3d.; slbs, is., 7s. 6d. to Bs. 3d.; storCF, to 13s. 6d.; liglitr'.veight porkers, to 19;.; harness inr.rc. £8 Vis.; aged geltUng, £5 2». 6(1. Poultry (per pair): Hens. 25., 2s. 3d., 2s. 6d.; cockerels, Is. 9d., 25., 2s. 3d. to 35.; ducks, 3s. 6(1. to 4s. FROZEN MEAT. Ur Te!eir!"-tili—Press Ars-zcin lion-Copyright (Itcc. April 30, 5.5 p.m.) London, Am;il 29. Tho Frozen Meat Trado Association's jmithflcld market quotations for tho undermentioned classes of frozen meat aro based on actual sales of not less than ono hundred carcasses of mutton or lamb, or twenty-iivo quarters of bed of fair avcrngo quality, Tho quotations are not

tor selected lines, but for parcels fairly representative of the bulk of tho shipments now on the market. Tho orkes ing per Ib. more than the value ex ship, this diffe-eiico reprcscntinc an areraso cost in expenses, handling, conveyance, and solliui: tho meat:— April 22. April 29. aiutton- d. d. Canterbury, light — 33 Canterbury, medium — n Canterbury, heavy — M Southland — North Island, best 3 311-16 North Island, ordinary ... 213-16 2S Australian, light S3 29-16 Australian, heavy 2i 2i River Plate, light 3 23 River Plate, heavy 2i 23 New Zealand owes 2 9-16 2 7-16 Australian ewes 2 9-16 2 7-10 Eivcr Plate ewes 2 3-16 2 7-16 Lamb:— Canterbury, lteht <% 4 i Canterbury, medium 5 5 Canterbury, heavy 5 5 Southland 15-16 4 3-16 North Island, selected ... <U 13-16 Kortli Island, ordinary... 41-16 53 Australian, best 33 3J Australian, fair 31 33 Australian, inferior 33 3J Rjvcr'Plate, first .... 35 J. , , River Plate, second 32 oi Beef:Ncw Zealand ox lores ... 2-13-16 2^ Now Zealand ox hinds 4 32 Australian, ox fores — — Australian, ox hinds — — River Plate ox fores 23 2\ fliver Plate ox hinds 33 33 Eiver Plato chiUe-;l tores 215-16 25 Paver Plate, chilled hinds 43 . 41 LONDON MARKETS. According to a London cablegram to the New Zealand Loan and Mercantile Agency Company, Limited, dated April 28, t-hs frozen meat market is depressed, and there are no eigns of improvement. Tho Bank of New Zealand has received tho following cable advice from its London office, dated April 28:—V.'ooh Prices are expected to bo hiriier at third series, oneni-ni; on May 9. Sheepskins: There is a good demand. Prices are 5 per cent, higher for practically all descriptions. The Vacuum Oi! Company Pronrietary, Ltd., reports that tho prices are unchanged. Further stocks of kerosene and petroleum spirits will be to hand in tli? course of a few days, per s.s. Briez Izel. The demand for turpentine substitutes still continues, owing to the high price at present ruling for pure spirits of turpentine. NORTH OTAGO GRAIN ILVEKET. (By Telegraph—PrcS3 Association.) Oaniaru, April 29. Business in wain and produce for the week just ended shows an imprc.eacnt on that of tbe previous week. Wheat, in sympathy with the Home markets, exhibits a firmer tone. Velvet has changed hands at frohi 3s. Id. to ss. 2d.; tuscan at ss. Id.; and red chaff at 3s. lid. net on trucks at country stations. Fowl wheat has been bought at 2s. Bd. on tracks, and a sale oi a imall line at 3s. 3d. f.o.b.F.i. is reported. Oats are still firm, users having u> get their supplies from the south. Chaff supplies are short, and prices ranee from .€3 15s. to £4 on trucks. In potatoes very little is doing locally, tho present market value bcini» about £4. With large crops, some in splendid order, in the south, prices are expected to come back a bit. COLONIAL SUGAR COMPANY. STATEMENT BY THE CHAIRMAN. By Telegraph-Press Association-Copyrnrht Sydney, April 29. At tho half-yearly meeting of the Colonial Sugar Company, the report showed a profit of £207,423. A dividend of 10 per centum was pa?sed and £77,613 carried forward. Tho Hon. H. E. K.itcr, the chairman, stated that the commission appointed by the Quensland Government had advised the' erection of three additional central mills by the State, and the Government had declared that tho idea had their support. OwinT to such over-development of tho industry, some loss may be expected during the next four years. Eoforrinc to a recent statement by Mr. Hiichce (Actins Fcc'cra! Prime Minister) that, the company refuses to funply shonkeoperf if they sc!l imported miiar. Mr. Kater declared that the company would supply anybody who was able to pay. THE PRODUCE MARKETS. DAIiGETY'S REPORT. Messrs. Dalgety and Co., Ltd., have received the following cabled information concerning the dairy produce market, dated April 23:Eutter.—The total imports into tho United Kingdom for week ending April 22 amounted to 69,CC0cwt., as compared with 9UCO cwt. for the corresponding period of List year. The market is steady at present prices. The Copenhagen oflicial quotation is 4 kroner (about 4s. 6d. cwt.) lower. Quotations:—Danish, 1145.; New Zealand. llCs.; finest. Australian, salted, 1025.; do., unsalted, 1C62. Cheese.—The market is weak, with a declining tendency, prices heine Is. to K lower. Quotations :-Coloured, 61s. 6d.; white, 625. By mail advices from London, dated March 15:— flutter.—Tho arrivals from Australasia havo recently been heavy, but imports from other sources have been on a moderate scale, and the comparatively low prices at which colonial butter is obtainable have maintained the demand for that description, while also tending to diminish tho consumption of margarine, the imports' of which have for some time shown a marked falling off. The continued depression in the market for the constituents of margarine also points to a. contraction of tho outlet for tho large quantity nianufacured in the United Kingdom. Cheese—Tho market for Canadian has shown little alteration, but New Zealand has fluctuated, especially white, which a fortnight was pressed for sale at £6s. for finest. One thin? to ha borne in mind by cheese manufacturers is that, should tho proposed reciprocal tariffs bo adopted by the United States and Canada, it mirht havo the effect of diverting quantity 'of Canadian chesso to the States, which would signmonls marketed in London. The following are the Quotations for all varieties of dairy produce as quoted in London, March 17. (Quotations, except for New Zealand, to be understood for finest only):— , Butter-French. 112 to 1!6a.: Danish, 119<i to 1215.; Siberian, 100s. to MMs.; Victorian salted, SSs. to 1025.; unsslted 112s. to Hfe.Now South Wales, salted, 975. to IDCs.; uiisaltcd, 965. to 1025., exceptionally, lWs.; Queensland, salted, 965. to ICOs.; imralted 98s. to 1025., exceptionally, 1045.; Jfew Zealand, finest, 104s. to 1035.; good to fine, 92s to !02s. Cheese.—Canadian, white, 60s. to 625.. occasionally £3;.. coloured 625. to 635.; English, 63b. to S2s.; New Zealand, finest coloured, E9s. to 61?.; finest white, 595. to Ms.; fine white, £85. to 535. 6d. By the latest mail advices from the firm's Australian branches, April 21:— Useful rains have fallen in several dairying districts of Kcw South Wales during tho past few days, and as tho weather, especially in the coastal districts is . mild, there is every reason to expect that tho production of butter will coiitinuo sufficiently heavy to enable exporting to oversea, countries to bo conducted well into the winter. Finest make; are seiline rapidly in Sydney at full market rates, viz.. 86s". per cwt. Owing to scarcity of best Queensland salted, up to 90s. ;;r cwt. is being obtained in Brisbane for such. The scarcity is due to so many factories packing a heavy proportion of their output unsalted for shipment to London. MINING NEWS. WELLINGTON SHARE MARKET. New Sylvias were again firmer, at 2s. lid.; on Thursday these shares wero obtainable at about 2s. 7d., and the advance indicates that crushing is to be proceeded with very soon. Thero were no other movements worth recording. The. "ales made on Saturday wero as under:— Kew Sylvia, 2s. lid. (second call). Talisman, 51s. (first call). Waihi, 623. 3d.. 625. 6d. (first call). Wnihi Grand Junction, 225. 6rl. (first cill)275. 3d. (second call). ' The buying and selling Quotations were as under:— Buyers. Sclisfs. £3-d. fs.d. Bremner'fl — 0 0 5 Con. Golcllields — 0 17 6 nixon Consolidated — 0 0 4 Dominion — 0 0 2 Kapanca 0 0 6J _ May Queen 0 18 0 1 10 Maorib'ml i 0 0 4 0 0 6 Now Sylvia 0 2 11 0 3 2 Occidental 0 0 3 _ Old Kauraki 0 18 0 1 10 Saxon 0 2 0 0 2 2 Tairua. Broken Hills 0 14 0 15 T.ilisraar. 2 10 3 2 10 9 Waihi 3 19 3 2 6 Waihi Grand Junction ... 1 7 0 17 3 Waitar.fri 0 111 0 2 1 Watchman 0 2 1 0 2 4 The course of sales during the past mouth was as under:— Hauraki Reefs, 3d., 7Jd. Kapanga, Til.. 9d. Hay Queen, 2s. Id. Kow Sylvia. 2s. 10} d . 2s. Btl., 2s. 7Jd. 2? 7d., 2s. fid., 2s. 6d., 2s. sjd., 2s. 7(1., 2s. U. 2s. lid. Old lliiuralii. 2s. Id. Occidental, 2J<]. Saxon, 2s. 2(1., 23. lid.. 2s. lid., 2s. 2d., 2s. 3<l. Tairua Broken llills, is. 13d., Is. 3d.. i s . 3d., Is. 4(1., Is. 5d., R 61(1., Is. 5(1., lj. sd. Talisman, 495. 9d.. 505., 505.. 5Cs.. 505.. 5Cs. 9d., 505. 9(1., 51s. 3d., 51s. 3d,. 51s, 6d.. 50s. 9d.,

535. 9d., 50s. 9d., 50s. 9d., EOs. 9d., 51s. 3d., 525., 525., 525.. 525., 51s. 6d., 515., 50s. 6d.. 51s. Talisman, new, 455. Waihi, 635. 9d.. 635. 6d., G3s. 9d. 635: 9d., 6<s. 3d., 645. 6(1., 645. 3d., 635. 9(1., 635. 6d., 625. Cd., CJs. 6c!., 635. Cd., 635. 6r1., «s. 3d. 645.. 645., 635. 9d., 635. 6(1., 635. 3d.. 625. 9(1., 625. Cd., 625. 3d., 61s. 6d., 6is. 3d., 625, 62n. 3d., 625., 625. 3d., 625. oii., 625. 3d., 625. 3d., 625. 3d., 625. 6(1. Waihi Grand Junction, 275. lid., 275. ljd., 275. l«d., 275.. 275. 3d., 275. 4fd., 275. 6d., 275. 6(1", 275. 6d.. 275. 6d., 275. 4d., 275., 265. 6d., 255. 6d., 275., 275. Jd.. 275., 27f. 3d., 275. 3d., 275. 3d., 275. 6d., 275. 6d., 275. 3d. Wailangi, 25., 2s. STOCK EXCHANGE. (By Teleeraph.—Press Association.) Auckland, April 29. Business at thi3 mornins's call on 'Change included:— Waiotahi. 2s. 7d. | Occidental, 4d. Crown, ss. 7d. Maoriland, sd. Tairua, Mines, Is. sd. Kapanga, 6>,d. Talisman. £2 10s. 9d.. £2 Uβ. Waihi Extended, Is. 9(1. Grand Junction, £1 7s. 3d Northern Coal, 10s. 6(1. Sylvia, 35., 2s. lid. Chrlstchurch, April 29. Sales reported en the Canterbury Stock Exchange .ire as follow:— Wcstport-StocUton Coal. 3s. 3d New Zealand Farmers Co-op., £2 12s. Waihi, f:i 2s. Dunodltl, April 30. Exchange sales:— Waihi Grand Junction (forward delivery), £1 7s. 6d. Milburn Lime and Cement (lCs. paid), 19s. 6d. DREDGING. (By Telegraph—Press Association.) Duncdin, April 29. Additional dredging returns:—Golden Sun, 1203. 9dwt.; Olrig. 20oz. 15dwt.: Workson, 420z. 3dwt,: Trafalgar, 120z.; Waikaka United No. 1. 230z. lCdwt.; Waikaka United No. 2, 12oz. 2dwt. ' Dunedin, April 30. Dredging returns:—Eiso and Shine I, 71oz. 15dwt.-, Golden Bed. 27m.; Lady Roxburgh, 2<!oz. lOdwt,; Waikaka United I, 230z. lCdwt.; Otaso I, 220z.; Sandy Point, 21oz. 16dwt.; Olrii;, 20oz. 15dwt.; Golden Sun, 12oz. 9d\vt.; Waikaka United 11, 12oz. 2dwt.; Otago 11, 7oz.