COMMERCIAL ITEMS.

Dominion, Volume 4, Issue 1130, 18 May 1911, Page 8

COMMERCIAL ITEMS.

INVESTMENT SHAKES. ■ A sale of National Bank shares at £5 19s. was the only investment transaction recorded yesterday. The buying and selling quotations were as under:— Buyers. Sellers. £ s. d. £ s d. National Mortgage — 3 9 0 ■Well. Deposit 0 8 3 0 8 9 Well. Gas (£10) - 19 0 0 Christchurch Meat 15 12 6 - Gear Meat (205.) — 310 0 Meat Export (£5) 6 6 0 - ■Meat Export (£4) — 5 7 0 Meat Export (625. 6d.) ... — 3 7 0 Union Steam 2 16 — Well. Steam Ferry (18s.) 0 12 0 — Well. Woollen (pref.) 3 0 0 - Leylaiid-O'Hrien 16 9 — Miramar, Ltd — 0 2 6 N.Z. Drug ..' 2 9 0 - Taranaki Petroleum ... — 014 0 Taringamutu Totara. ... 2 9 0 — Ward and Co 5 0 0 - BEITISH BUDGET. The- revenue and expenditure of the United Kingaoni in the past tnrce years navo been us under:— Kevcnuc. Expenditure. £ £ 1908-9 151,578.295 152,292,395 19W-10 lJLWb.lob lb'/.Sil.Wl 1910-U 2i'3,Bra p seß lVl.Ma.Wrf ' For the year ended March 31, 191,9, there was a aelicit of £714.11;!), but in the following year the qcncieiicy amounted to £'&o,WH,lbs, due mainly to the non-collection of the income-tax, it is very 'likely thai, ISIO would have snown a surplus huu there been no interruption in the revenue collection. The surplus for 191U-11 is ij1,604,fti, but deducting the aeliciency of tho previous year, the net surplus lor tho two years is £5,6C'6.'/to.

THE USE OF OIL FUEL. An interesting article on tho production of ana c.ewanu lor oil fuel was published iu a recent issue of "Tho 'limes.'.' Tiio writer states that the employment of on as fuel on a, commercial scale had its uegiuuiug over 4u years ago in the steamer services of the Caspian fcea, but it is only within comparatively recwit years that any considerable extension of the applications of liquid fuel has been recorded, 'i'hisslow growth in the use of oil as a heating agent has been primarily due to tho uncertainty of obtaining regular supplies and in spite of all assertions to tho contrary that fear is not yet entirely removed. It is true that many now sources of supply are being exploited, that the supplies available are steadily increasing, and that owing to the war of rates between the great interests involved, the price of liquid fuel is comparatively low. The«o conditions explain the growing favour with which oil fuel i 3 now regarded, but in any attempt to forecast the future, regard must be had to many other consideration* It will be appropriate in the first place to discuss the question of sunniv Thr. United States is still by far the larscst single producer, her percentage of 'the total production in tho year 1909 being 61.24 per cent.; and, although the world's figures for 1910 are not yet fully available it is known that tho actual production of the United States for last year showed a considerable increase. •

THE TRANSPORT OP BUTTER Pf SIBERIA. There aro 1292 railway ice-cars, and alonj the whole lino .icc-houccs with ice reservoirs are established every 160 miles. The refrigerated service for butter consists of an ice-cooleil store at Obi, to hold 3j,ttU poods (SCO tons): at Omsk and Koorgan for 20,000 poods each (333 tons); at Kaim-k and Petropavlovsk for 10.COO poods each (165 tons); and two cold storages at Windau each for 5200 barrels, ami two ice-storages for 18.0 CO barrels, in addition to a refrigerator steamer of BCOU barrels capacity; one at Riga f0r.200.000 casks (3J poods—l 26 lb. each'; one at St. Petersburg for 15.CC0 casks.

BEITISII SHIPHUILDIXG. From the returns compiled by "Lloyd's Register of Shipping" it appears that, excluding warships, there were 480 vessels of 1>374.964 tons gross under construction in the United Kingdom at the close, of the quarter ended March 31, 435 being of 1,306,127 tons gross. The tonnage now under construction was about 243.0C0 tons more than that which was in hand at the ond of last quarter, and exceeded l.y 317,000 tons tho total building 12 months ago. The warship tonnage building during tho quarter was the niches!, recorded in thfc s'wK.ty's quarterly returns fur the last ten years.

Of the vessels under ronstruclion in the United Kingdom. 378 or 956.289 tons w?r? umlor tlie supervision of the surveyors of Lloyd's lic'islDi' with a view U classification by the society. In addition. 73 vsspcls of 2M.776 toil:! were building aliioncl to the society's classificatioji. The tMal building nt the present time under the supervision of Lloyd's llcgister was, thus, 451 vessels of 1.E01.065 tons. • Of tlie vessels under construction in the United Kiiifrdom (warships included), three were- of 20.CCC tons and upwards. Llort-n ol ICM4O. tons displacement wore in course of construction in the Itoyal dockyards, nnd 73 of 419,555 tons displacement in private yards, of which G5, with 384,740 tons displacement, were for British service.

A.M.P. AND TAXATION. The Australian Mutual Provident .Society pays a. considerable «um each year in taxation. According to the last report the sums paid in tases .ind Government fees amounted to £33,631 ss. Bd., distributed as under:— .£ s. d. Now South Wales 3.752 6 5 Victoria 5,467 18 1 New Zealand 14.503 11 6 S. Australia 4.228 12 8 Queensland 3.393 0 10 Tasmania 1,218 9 7 W. Australia S<7ll b London 210 15 1 ' 33,634 5 8 The amount paid in Now Zealand is comparatively heavy, and is about equal to thn total paid in Now South Wales, Victoria, and Queensland put together. Customs duties collected at the port of ■Wellington yesterday amounted to £1052 ss. 3d. LONDON WOOL SALES. Bγ TeleffraDh—Press Association—Copyricht London, May 16. At tlie wool sales there was keen competition, with prices unchanged. The Tekoa clip top prire was 13d., and ' the average price 12(1. (Eec. May 17, 9.30 p.m.) London, Hay 17. At, the wool sales the Nantarra- clip top price was 9Jd., and the average price 83d. The New Zealand Loan and Mercantile Agency Company, Limited, have received the following cablegram from their London house, under date May 16:—London wool sales: The sales progress firmly. As compared with last Fales, closing rates are about the same for lamb?, scoured merino, super, greasy merino, fine and medium scoured crossbred, and scoured •medium merino, higher by about par to 5 per cent, for flue and medium greasy crossbred, coarse scoured crossbred, and medium crossbred slipe; higher by about 5 per cent, for crossbred lambs, coarce scoured inferior merino. America is not operating. METAL MAEKETS. By Telegraph—Press Association—Copyright London. May 16. Copper.-On tho spot, £53 Es. 9d. per ton; three months. £54; electrolytic, £55 17a. 6d. Tin.—On the spot, £195 ICs. per ton; three months, £169. WHEAT. By Tslegrach-Press Association-CoDjrisrht London. May 16. Wheat—An Australian cargo has been sold at 375. ■ 7id. i DEBENTURES. : By Tolecraph—Press Association-Copyrleht London. May 16. Dalgety's debentures aro quoted at £101. DTJNEDIN GKAIN MARKET. (By Telegraph.—Press Association.) Duncdin. May 17. There has been good inquiry for oats during tho past week, and prices remain firm at later ratO3. Good to prime Gartons and Sparrowbills are not offering freely, and are keenly sought after for filling shipping orders. Prime milling, 2s. 3Jd. to 2s. 4d.; good to best feed, 2s. 3d. to 2s. 3jd.; inferior to medium. Is. lid. to 2s. Id. Wheat: Millers are not buying freely, but all prime samples of tusca-n and velvet meat with stvong inquiry from exporters, and prices remain firm with an upward tendency. Fowl wheat is scarce, and medium milling lines are being used to fill local requirements. Prime milling. 3s. 6d. to 3s. 6Jd.; medium to good, 3s. sd. to 3s. SSd.: whole fowl wheat, 3s. 3d. to 3s. 4d.

TABANAKI FETEOLET.ni CO. (By Telegraph—Press Association.) New Plymouth, Jlay 17. On Tuesday an important cablegram was received by the Taranaki Petroleum Company from Mr. J. D. Henry, British oil expert, who has just returned to London after his visit, on behalf of a group of English oil financiers, to Taranaki and other parts of New Zealand. The cablegram was considered to-night by the directors, and a reply dispatched by cable. Tho "Daily News" understands that the negotiations are in a particularly satisfactory forward state. 'If they arc completed, as is likely they will be shortly, it may be necessary for a. responsible member of the directorate to proceed to London directly. It is also expected that Mr. Henry will bo returning to Taranaki iu a. few months' time, and will bring with him a plant and staff to exploit the oil-field on comprehensive and up-to-date. Hues. Mr. Henry'. , ; people have unlimited financial resources. If negotiations are completed, the shareholders in the present Taranaki Company (adds the "News") will be on a, "good wicket." PROPERTT SALE. Ther; was a, good attendance at Messrs. J. 11. Bothune and Co.'s property auction, which they held at their rooms yesterday afternoon. A quarter-acre, with Ennll 2roomed cottage thereon, situated at Northland Extension, was offered under instructions from the Pharazyn Trustees, and was sold to Mr. George Stafford lor £50. Another Northland property, situated in Kaujapa Eoad, comprising land with a frontage of 38 feet by a depth varying from 112 ft. to 123 ft., with 4-rcomed dwellinghouse thereon, was sold to Mr. C. Jlahony for £5«0. A freehold property in Epuni Street, comprising land with a frontage of 60 feet by a denth of 39 feet, with 4-roomed dwelling. No. 6. thereon, was sold to Mr. Jas. T. Hall for £375.