COMMERCIAL ITEMS.

Dominion, Volume 4, Issue 1118, 4 May 1911, Page 8

COMMERCIAL ITEMS.

INVESTMENT SHARES. No transactions in investment shares were recorded yesterday. ' The buying and selling quotations were as under:— Buyers. Sellers S s. d. £ s. d. Bank of New Zealand 11 7 6 - National Mortgago — 3 8 0 Well. Investment 0 11 3 — Giobornc G-is 3 2 6 - Wellington Gas (£10) - 19 0 0 Standard Insurance 19 3 — Meat Export (525. 6d.) - 3 7 0 Well. Steam Ferry (185.)... 0 11 0 - Well. Woollen (ord.) - 4 2 0 Well. Woollen fprcf) 3 0 0 - Westport Coal 18 6 19 0 Leylaud-O'Bnjn 16 6 - Miramar, Limited — 0 2 6 N.Z Drue 2 9 3 — ■ N.Z. Paper Mills 110 - Taranaki Petroleum - 614 0 Taringnmntu Totara 2 8 S 2 10 0 Ward and Co 5 0 0 - NOBDDEUTSCHER LLOYD. The annual report of the Norddcutscher Lloyd, according to the "Frankfurter Zeitung," slates that the improvement of the general economic condition of the world's markets which sot in in 1909, has made view, and that both passenger and cargo traffic show a. satisfactory increase In comparison to the previous year. This improvement, which was noticeable in nearly every direction, was. however, a, steady one, and did not gather that quick momentum which many expected at the beginning of the year. In conformity with the steady development which the Norddeutscher Lloyd, owing to ■inereas2d traffic over its principal lines, enjoyed during 1910, the receipts experienced a considerable increase. If despite ttis tho directors, after writing off ample amounts, propose only a dividend of '3 per cent., this is done in consideration of the further inner consolidation of the company appearing desirable. Compared with 1909 the results of 1910 are as follow:—Profits. £1,907,500 (19C9, £1,644,950); eoncra.l expenses, tajes, interest, otc, £355,5C0 (£375.900): extraordinary repairs and rebuilding £238,400 (£193,8501; transferred to insurance fund, £72.850 (£70,050); written off, £1.024.475 (£1,C01,650). Distribution of profits:—s per cent, towards reserve fund, £10,940 (0); 3 per cent, dividend, £187,500 (0); renewal fund, £15,000 (0); talon tax fnnd, dEECCO (£3500).

LONDON SHEEPSKIN SALES. According to the annual report of Dyster, Nalder and Co.. sales of Australasian sheepskin® in London last year wero about 4600 bales lass than the previous year, during which period the greatest- number were offered since 1905. The figures for the past six years are as under:— Bales. 1910 42.357 ISO 9 47,010 1908 43,041 1907 25.467 1906 27.950 1905 29.CC0 CATTLE EAISING IN MEXICO. Owing to the shortage of beef in Europe and tho United States, new sources of supply to make up the deficiency are being looked for. Prance is about to develop the resources of Madagascar, and now it is understood that Mexico offers great possibilitie.?. An exchange points out that tho possibilities of tho country are sure to bo appreciated in a very short time, as it possesses condition:-, similar to those found in tho ranching districts of the United States —good pasturage,- water in sufficient quantity, mild winters, freedom from blizzards, and protected valleys. Tho dry months do not' seriously affect the rancher, and oattle in good condition can be sent to market for £2 a head with a good profit to the owner. It. is estimated that there are over five million head of cattle in tho country at present, which compares very favourably with the thirty million head in Argentina, while it is considered probable that Mexico could carry sixty million head on.its natural pasturage. For the other varieties of foodstuffs, and particularly pork (cured or otherwise), butter, cheese, etc., progress is rapidly Deing made.

THE SUPPLY OF TIN. The rapid ad-vanee in the price of tin— .the present spat quotation is £195 rer ton —will cauao consumers to look eagerly for any fresh sources of supply, and reports from China hold out some prospects of an increase in the production of this metal. Tho American Consul in Ho;ig Kong 6tates that, shipments of tin from Chi ia, are likely to us sosn largely increased. Practically all the tin mine; of the country are in Yunnan province, and the exports come almost entirely through the port of Mcngtzo and by way of Haiphong to Hong Kong, whence they are distributed all over tho world. The mining herctofor has been altogether by native process, and the output ha? been large in 6pito of tho many drawbacks to tho trade, due to imperfect methods of production. Becectly Germnn interests secured concessions in tho province, and a modern oro dressin" and smelting plant is being installed, and will soon be at work. Chines-o capitalists and' officials have long considered the tin mines of Yunnan of more than ordinary importance in tho development of that province. At present the export of tin constitutes 93 per cent. •of the trado cf Mengtze, the principal port of the province. The introduction of tho modern plant now being constructed at Koticou, near Mengtre will probably double the output of the minra in that vicinity at once, and at tho same time will improve the quality of tho metal produced. What the ultimate production may become cannot be stated .'accurately, but the ore deposits aro known to bs very large, and of high quality, and production is likely to be expanded as much as the world's markets will justify

ADJIIRALTV AND OIL FUEL. Present indications arc to the effect tiat striking developments may be looked for in the UE3 of oil fuel by the British Navv. The quantity to bo contracted for in the new financial year will bo double that represented by last year's contracts. It is believed that most of the cruisers and all the destroyers to be built in future will be built so OG to be in a position to use oil alternately with coal. This, of course, means that the present steam-propelled engines will continue to bo UFed until the utility of the internal combustion enciii" has been demonstrated beyond the possibility of doubt. A new departure is the decision to .provide all destroyers with paraffin or petrol-driven tenders. Several of those navo been in use for some time, and :t is officially stated have proved mo' serviceable. The greater utilisation of oil fuel will nec€6sitat= the provision of larger storage accommodation, and accordingly it has boon decided to provide additional storage facihtias at various points round the coast. At Dundee, for instance, the Admiralty has decided to erect a storage tank capable of ho ding SCCO tons, and have requested ths Harbour Trust, to lease the necessary ground. The storage facilities it Gibraltar Malta, and otherbases abroad are ako to be considerably extended.

BOWRON BROS.' (LONDON) FAILUEE. The London '■Leather Trades Eeviow" of March tf contains an account of the meeting of the creditors of Messrs. liowron iiros., leather manufacturer and fellmongers, of Orayford, Kent, and JJermondsey, to winch rtlerenco has been made in our cable news. The ctatement of affairs showed bankers' claims, £5860; creditors partly secured, £274,640; creditors un=e cured, £11,240; and Eowron liros., Christchurch. £45,180, making .£336,920 in all tS> assets were set down at £130,608, showing au apparent deficiency of £206,312. The principal items of tliii assets were Book debts £6UO; Crayforcl premises, £39,156; stock! £87,650; and other assets, £3CCO It was stated on behalf of the debts that their difficulties were in the main duo to tho fact that during th; American crisis of 1908 they had to write down their stock to a very considerable extent; they also had. it was said, paid' heavy charges in connection with financing the business. According to tho balance-sheet they had got out the debtors alleged that they made a profit in 1906 of £22,000, but in 19C8 they lost £75,000, and in 1909 £22,C00. Tho books had been kept in a satisfactory manner. After discussion it was decided to ask the debtors to file their own petition in bankruptcy. This they agreed to do. . .

GOLD AND SILVER RETUKNS. The following return shows the quantity and value of gold and silver exported from the several ports of New Zealand for the months of April. 1910 and 1911, and for the first four month:; of those years:— GOLD. April, 1911. April, 1910. Oz. £ Oz. £ Auckland ... 13.975 58.241 26,502' 104,793 Kelson 205 822 17 68 Wcstport — - 1.476 5,637 Greymouth ... 3,677 14,702 8,712 3,5,830 Invercargill... 223 694 2.C89 8,333 lijii 74X59 38,796 152,718 Decrease for April, 1911: 23,7150z., £78,059. SILVER. April, 1911. April, 1910. 94,5620z., £9440 126,07807... £12,745. Decrease for April, 19U: 31,5160z., £3305. Four months ended April 30, 1911 and 1910. 1911—Gold: 13G,K60z., £545,300. Silver--379.7750z.. .€37,965. 1910:—Ciolcl: 152.7720 Z., £603,793; 536,1780z., £53,738. Dew-case for 1911, four months in gold--16.7460!!.. £58,498. Decrease for 1911, four months in silver--156,4030z.. £15,773. Customs duties collected at the port of Wellington yesterday amounted to £4726 7s. LONDON QUOTATIONS. By Tclcsraph-I'ress Association-CoDyrteht London, Hay 2. Stock and fharoraarliet tales ir.dudi;-— Australian Mercantile Stoci, £ICO 10s.; Dal-

goty and Co., £100: Waihi Goldmining. 625. 6d. (buyers), and 655. (sellers); Grand Junction, 265. 3d. (buycro), and 225. 9rt. (sellon.); Tr.Hsman, 48s. 9d. (buyers) and 51s. Id.

WHEAT. By TelezraDh—Press Association—Copyright London, May 2. Two Australian cargoes sold at 345. 6d. per quarter (Rec. May 3, 10.55 p.m. London, May 3. Wheat..'—Throe Australian cargoes have besn sold at. 34.=., 3<?. CM , and lie.. 3d. respectively. Four cargoes went at 345. 6d, and three at 345. 9d. METAL MARKETS. By TelesraDh—Press Association-Copyrleht London, May 2. Tin.—On 6pot, £195 per ton; three months', £191 10s. Lcad.-£l2 15s. per ton. Silver.—li.ar silver is quoted at 243 d. per ounce- standard. LONDON WOOL SALES. By Telegraph—Press Association-Copyright London, May 2. • Of tho wool for tho forthcoming sales 366,500 bales have arrived, of which 203.C00 have been forwarded direct to the manufacturers, leaving, with the quantity held over from the last series, r. total of 201,000 bales available for tho.ealo, SOUTH AMERICAN MEAT. (Eec. May 3, 10.55 p.m.) London, May 3. The meat shipments to the United Kingdom from Argentina- and Uruguay during the month of April were as follow :-~ Mutton 2CB.SCO carcasses Lamb ....'. 102,600 carcasses Frozen beef 114.750 quarters Chillel beef 133,750 quarters