COMMERCIAL ITEMS.

Dominion, Volume 4, Issue 1167, 30 June 1911, Page 8

COMMERCIAL ITEMS.

INVESTMENT SHAKES. The transactions recorded • ye«torday were;— New Zealand Drag, <9j. 3d. and 49s 6(1., n-nrl Taranaki Petroleum, 17s. The buying and selling quotations were as under:—. Buyers. Sellers £ s. d. £ s. d Hank Jfcvr Zealand 11 17 6 National Bank 6 10' 619 National Jlortffiiitc 3 5 0 — ' 5.7.. and IMver Plato 2 10 — Well. Deposit — 0 8 6 Gisborne Gas „ 3 16 _ S.B. Insurance 312 0 — Meat Export (.£5) '6 5 0 — Me.it Export (52e. 6d.) — 3 5 6 N.Z. Shipping - 11 15 0 Union Steam 2 10 — Well. Woollen lord.) — 4 2 0 Well. Woollen (pref.) 3 10 _ Westport Coil 19 0 19 6 WcstiKirt-StoriU-nn — 0 3 0 Kauri Timber (155.) 0 16 3 - Leyland-O'Brion 17 0 - Manning and Co — 4 7 6 N.Z. Druff 2 9 0 2 9 6 Taringamiitii Totara ... 2 6 0 • z 10 0 Ward and Co 5 16 5 3 6 Well. Oncra House — 7 16 6

OIL FUEL FOB SHIPS. The position of oil as an cErk-nt Rri'.crstcir ot yiowov for Hen-going of sb'j largoct type is not without interest to -\ew Zealand, where the oil industiy is about to be developed on a. large feale, ami. with expert management, considerable progress has already licon made, hut many improvements have still 11) be rlferlcd before motor engines, this keiiijt the tcfhnic.il expression lor machinery driven by oil fiial, are in general iuc in the British or any other navy, or on passenger vessels of i!io moilorn leviathan type. ■ However. ve:sols of moderate tomiaijo. ttcfitfned for war-lilio purposes, are being fitted in considerable numbers with oil-driven machinery, and are yieldiiiE cncnurnciiis results. The most, important development of Into in cunnectiim with the perfection of oil-driven machinery has been the completion of a reversing engine, capable of alternating from full-speed ahead to full-speed astern, within a, very few seconds. The claims of tho designers have been admitted by exports after tho mobt exhaustive test?, and the result lut.s been to (,'ive a creat impetus tn the construction of vessels-of moderate dimension.-, propelled by oil-driven engines. Franco, Germany, and Belgium aro building ship? of this character for thoir navies and merchant services. The British Admiralty is keeping its own -coiniEol in regard to this matter of oil fuel, but it is stated tint, the British Xaval constructors have, practically completed a desisn of their own, which goes a long way towards meeting the difficulty of excessive weight, in connection with motor engines. In Germany the r.-aval authorities have two powerful installations under construction, while in Franco a new typo of vessel is heme evolved, combining the qualities of a. torpedo-boat destroyer, and a submarine. In Belgium and Holland, several oil-driven vessels of the incrcharit class are being built, and arc expected to show some improvement upon older ships. Although the first motor-liner to make the regular passage between F.uro-oo and the United States will bs tiio SCOO-tou vessel which is now pnder construction for tho HamhurK-American Company, and in expected to be ready for ccrvico early next year, the first boat without funnels to cross tho Atlantic will bo tho'ToSlei-. She was built at Vallsend for a, Can.-idinn firm, and recently completed pn trip from the Tyne and Calais and back. With nearly 3CCO tons of mrso tho oil consumption of ilw Toiler for the round voyage was not mors than 65 tons. An interesting development in this connection is the application of oil engines as auxiliary power for sailing shins. In the Now Caledonian ore trade a French company now has a. four-misted liarone fitted with Diesel motors, and other vessels' of tho kind nre about to follow. Indeed. ».ho hope is widely entertained that oil ersines will rolvc the problem of rp.akine- this tvrc of YC=;el pay. On a scalar which is' bein" Milt for a Tjiverpoal firm, for work off iSewfouTOlard coast. T)i»=el rapines .t-o t» be employed as auxiliaries instead nf steam.- Altogether, thor" *r 0 ahinfc 2W shins fitted, or heing fiii»&, with oil jnptprs, but very few of them aro for British account.

Customs duties collected at the port of Wellington yesterday amounted to £1603 WHEAT. By Tclesraph-Prcs? ."-=sneiation-CoDrri2.lit (Hoc. June 29. 3.35 p.m.). _ ' Lonrton, .Tune 29. wheat.-An Australian cargo lias been sold at 33 s. 9d. THE METAL MARKETS. EyTclecr;ioh-l-ress A«snp!ntioij-OopjTicht (Rec. Juno 29. 8.35 p.m.) London, June 29. Copper.-On spot, £57 per ton; three months, £57 Us. 3d.: electrolytic, £58 15s. Tin.-On spot, £195 10s.; thrco months, Lead,'£l3 Bs. 9d. v SILVER. By Telezraph-Fress Assoeintion-Copyrlehi _ . London, Juno 28. Bar silver is quoted at 24 5-Ed. per ounco standard. AUSTRALIAN PRODUCE MARKETS. By Telecrayiij-i'ress Association-Conyrißlit (Rec. June 23, 11.25 p.m.) Sydney, .Tune, 29. V< heat— Shippers, 3s. 3d.; miller.*, h. Jrt. Flour, city brands, £8 10?.; country, £8 sj. Oats. Algerian feeding, 2f. sd. to 2s. Crt.; milling, 2s. 7d.; Sparrowbills. 2s. 10i ; Giants, 2s. lid. Barley, English, 2s. <A. to 2s. 6d.; Cape, 2s. 6d. to 2s. Sd. Waizo, 2s. 7(1. to 2s. 9(1. Bran and pollard, £5. Potatoes, £8 ICs. Onions, £3 15s. Butter, selected brands, 13Ci.; prime, 130s. to 1285. Cheese, Gd. Bacon, siil. to sid. Melbourne, Juno 29 Wheat, 33. 4d. Flour, £8. Oats, Algerian feeding, Is. 9d. to 25.; millinsr, 2s. Od. Barley, medium, 2s. 3d. to 2s. 6d. Maize, 2s. id. Bran and pollard, £5. Chaff ig in moderate demand: oaten dumped, best ',5s to 775. 6d.: second jrrade. 725. 6d.: pressed' covered, 755. to 80s.: uncovered, 72a. to 77s ' Onions, prime, £2 10s. Potatoes, £3 ICs. to ,„, . . , ~ Adelaide, Juno £9. Wheat, to 3s. sc!. Flour, £8 to £8 £s Bran and pollard, 12d. Outs, 2s. 4d. MELBOURNE HIDES MARKET. By Telesraph-Press Association-Copyrich* (Eec. June 29, 11.35 p.m.) Melbourne, June 29. At the hides sales to-day, etout and goodconditioned sorts wero steady, and others were t<l. lower. LOnDOJT MARKETS. The Xovr Zealand lioan and Mercantile Agency Company, Limited, liaro received tho following cablegram from their London house, under date Juno 28:'—Wheat' Wo quote an Australian cargo, 335. 9d. c.i.f. Tho market is steady, and quotations aro nominal. There is very little demand, owing to favourable crop reports. The general are marliet prospects not likely to improve at present. Wo quote per ouarter. c.i.f., Aow Zealand wheat. long-berried, 325. 9d.; short-berrisd. 325. 3d.