COMMERCIAL ITEMS.

Dominion, Volume 4, Issue 1221, 1 September 1911, Page 8

COMMERCIAL ITEMS.

INVESTMENT SHARES. A sale of Ohristchurch Jlcat shares at £16 was . the only transaction recorded, in investment shares yesterday. The buying anil selling quotations were a3 umjen Buyers. Sellers. £ s. d. £ a. d. National Bank 5 2 « ~ Well. Trust and Loan ... 79 0 fl ,7 . Christchurch Gas 911 6 915 0 aiding Gas 11 £ 12 6 Napier Gas (£5) 12 0 0 . — Well. Gas (new) 2 15 0 - •Well. Gas (rights) 0 0 3 0 1 0 Christchurch Meat. — 16 2 6 .Kaiapoi Woollen 5.2 6 — Well. Woollen (pref.) - 3 2 6 Hikurangi Coal — 10 0 Westport Coal 18 9. — Sharland's ordinary — J J \ Taranaki Petroleum — 0 17 3 The course of sales during tho past month was as under:— National Bank, £6, £6 Is., £6 Is., £6 Is. Bank New South Wales. -£45 10=. Union Bank. £66. Wellington .Trust and Loan. £7 iOs. Wellington Gas (£7 10s.). £15. Wellington Gas (new). 555. Wellington Gas (rights), Jd. New Zealand Insurance. 903.. 91s. 9d. Christchurch .Meat, £16, £16, £16, £16, £16, £16, £16. £16. Wellington Meat Export (£5), £6 Bs. Wellington Woollen, ordinary, £3 IBs. 6d. Westport Coal, 295., 295.. 295. Wcstport-Stockton, Is. 9d. - Leyland-O'Brien, 28s. 6d., 28s. 9d„ 28s. 9d. N.Z. Paper Mills, 21s. Tarajiaki Petroleum, 175., 16s. 6d., 15s. 10d., 16s. .3d., 17s. ■Ward and Co., £15 Is.

LONDON BUTTER MARKETS. In a review of the butter market for tlio season 1910-11, tho New Zealand Loan and Mercantile Agency Company, Lid., London, writing with inspect to condition and duality, says:— • HavinE regard to the abnormal malic it is satisfactory to report that l-ha finality of Australian butter was generally (rood, though in the case of Ken' South Wales some brands laiclit. with advantage, havo been kept more uniform. It is disappointing both to buyer and seller to lind one week an excellent butter and the next a marked variation in the quality of the same brand. U'c would draw special attention'to tho fact'■that, owinsr to unseasoned wood having been utilised in the manufacture ol the boxes-doubtless owinc to the exceptional demand on suppliers—a good deal of butter arrived in a mouldy condition; In New Zealand tho. duality Generally v.-as very eood, but at times there wero many complaints of "fisbiness" even as regards some of the best brands. We are ulad that the moisture question has. been taken up by the Commonwealth Government, and that 10 per ccut. will bo the limit allowed, -as we are conviwc-d this is in the best interests of factories. The butter will onon up' better, and will not be susceptible to outside influences, being drier and closer, and in the loiilt run shippers will, we feel sure, beaelH. We understand that conditions in Australasia arc again favourable to a heavy make during the comins season, and while prospects arc, of course, uncertain as to the future' markets, we cannot help but feel that as tho droncht in France. Ireland, ajid England has created a good consnmntivo demand, and though the cold stores arc at present fuil/.ill supplies will bo wanted, more particularly as tho consumption of butter in nearly all the Continental countries is yearly increasing, while during the winter months smaller exports thence to tho United Kingdom may be looked for. In the circumstances we feci justified in anticipating that next season will prove satisfactory to factories in Australasia.

The report mentions that at the openlnc it was anticipated that the course of tho market would bo very much on the same lines as .that of the preceding season, and. on all sides, a high level of prices dm-ins January and February was generally looked for. In conserjuenrt, extremely hisli bids were imidc for tiie outputs of New Zealand factories, while, for the earlier shipments of Australian, extreme prices were paid. The prices asked by Ivew Zealand factories, however, were generally above thoso whi-ch speculators were, prepared to pay. and bat little was sold ontriffKt; tho bulk of tho outputs •being shipped on "consisnment without recourse. Dcclininc markets were met almost throughout the season, an attempt to 'forcc up prices nt the beginning of the new year made by 'certain' big speculators proving abortive, owing to the heavy weight of supplies. Toward the close, with dry weather and a stimulated demand on account, of the • Coronation festivities, the market took an upward turn, .values at the end of June 7narkjiV«* an appreciation of fully 6s, per cwt, from the lowest point touched.

. STOCK EXCHANGE VIGILANCE. According to. the Melbourne "Argus" the Stock Exchanges of Melbourne, Sydney, and Adelaide are exercising a very strict scrutiny over all companies that wish to he listed. This co-operation is the outcome of a conference held some little time since with the object of decidiug upon uniform methods in important matters of Stock Exchange practice. The result is that there institutions now perforin many duties in the interests of the public which cannot be covered by legislation. One recent act is to object to the listing of companies where directors do not hold a share qualification. Another matter that will nave to come up for consideration is whether, if it bo desirable to tie ud vendors' shares m raining companies for, sav six months after the formation of a company it is not equally desirable that tho vendor* in trading concerns should be required to show their belief :n the property they are floating or selling, by holding their share* for a certain period after the promotion. In-.Sydney at present a stipulation of the kmc! would work wonders. There a boom m industrials is in full progress the course of the market indicating tiiat profe.ESional dealers and promoters are having ■a. merry time. An old dodge is anpare. dy being.resorted to m some of the flotation* This is for prompters, when they find applications streaming in for Iho stock of n new notation to apply f or large block of shares. If the scrip is over-applied for its price goes to a premium, and the promoter, by selhner his shares, treta n wind fall If there should be any falling-oTili' public support, then ho quietly withdraw* his applications, and allows the issue to co to the public. t0 If the Stock Exchanges of New Zealand were to co-operate in a similar wav it is not unlikely that some successful efforts would be made to put a. stop to the praotir.c of licensed sharcbrokcrs spceulat'ii" in miniii? shares, and at the sano time dolne a brokerage business with the public

The Customs revenue collected at tho nort of Wellington during the month of August totalled £76,868 2s. Id., as romirnwl with £83,299 12s. 4d. for August, 1910 Th', beer duty totalled £1028 18s., as against £1093 17s. 3d. asain.t Customs duties collected at the port of Wellington yesterday amounted to £1619 14s. 6d. WHEAT. By Telegraph—Press Association—Copyright London, August 30. Two Australian o.areoos of wheat sold at 345. 10>d., and two others at 355. and 355. 9d. respectively. The American visible supply of wheat is estimated at 58,784,030 bushels.

TAIiLOW SALES. By Telegraph—l'rcss Association—Copyright London, August 30. At the tallow sales 1275 cn;ks were offered and sold. Prices realised: Mutton, fine 375. 6d.. medium 345. 6d.; beef, fine 345. 9d„ medium 325. 6d. AUSTRALIAN PRODUCE MARKETS. By Telegraph—Press Association—Copyright (Rec. August 31. 11.10 p.m.) Sydney, August 31. Wheat, 3s. 7d., 3s. 7}d. Flour, city brands £8 10s.; country brands .£8 7s. 6d. Br.ui, £5. . PollaTd, £4 10s. Maize, is. 2d. Oats, Tasmaniau Sjn.rrowbMis, 2j. 10d.; Giants. 2s. lid., 3;.; Algerian 2s. 7d. Onions. £3 JCt. to £1. Potatoes, Tasmanian, £8. Butler, 108s. to £116; s-cloeteu, 120s. Bacon, 6Jd. lo 7d. Cheese, 6Ad. to 62d. Melbourne, August 31. Chaff is firm; oaten dumped, £3 12s. £d. to £3 17s. 6d.: compressed, covered, £4; uncovered, £3 15s. Wheat, 3s. 7?d. Flour, city brands, £8 10s. Oats, Algerian, 2s. 2id. to 2s. 3d. Barley, malting, 2s. lCd. Maize, 2s. lCd. Bran and pollard. £5. Onions, £2 15s. 6d. ( Potatoes, £5 to £5 £s. Adelaide, August 31. Wheat, os. 7d. FlSur, £8 ss. Bran, 12id. Pollard. 12id. MELBOURNE HIDES MARKET. By Telegraph—Press Association—Copyright (Rec. August 31, 11.10 p.m.) Melbourne, August 31. Hides were in fair supplies at to-day's I sales, and there was excellent competition. Prices were very firm. LONDON MARKETS. The New Zealand Loan and Mercantile Agency Co., Ltd., have Tecoived the following: cablegram from.their London house ■under date August 30:—Tallow; We Quote present spot values for the following descriptions:—Good mutton, 375. 9d. per ewt.; good beef, 345. 6d. per cwt.: mixed, 325. per cwt. The market is active. Wheat : Have sold an Australian carco-at 355. 9d. c.i.f. The market is-firm but inactive, and tlio outlook uncertain. OIL AGREEMENT SIGNED. (By Telegraph.—Press Association.) ■ ' New Plymouth, August 31. The chairman of the TaranaKi Petroleum Company cables from London that the agreement with Mr. Henry's priiiciu-il-". has been signed. The proposed working capital of the new company is £200,CCD, :u i stead of £100,CCO, and the whole of the stock of crude oil has been sold at a satisfactory price.