COMMERCIAL ITEMS.

Dominion, Volume 4, Issue 1242, 26 September 1911, Page 8

COMMERCIAL ITEMS.

THE WOOL OUTLOOK. The fifth of the series of London wool sales will eoir.nicnec thi" evening in Coleman Street Woe! Exchange, and producers mudt not be disappointed if there b a clrjp in values. The proKabilit;- ol r. decJino t.is been stron". and, bcides. Ihere hna been . a gentril hardening cf the money market. However, woo! cannot long remain doprc.sed for the simple reason that the consumptive demand i-i steadily mercasing, while the production (!pe.i not show the fame expansion. Soire interesting information in this respect was Eiven by Mr. John Cooke in discussing the subject before the International Conference of Sheephreeciers. Ho showed that in considering the genera! wool situation it h abundantly clear that tho consumption is increasing materially, the tola! quantity used by the lnme trade last year being Cl 4 million lb. againat s<o a.nd 523 million lb. in tho two preceding years. AiHtrn.'.asia being responsible for the supply of about one-third of this increase. During the past fifteen years there hns apparently been an actuol decrc.iso of about 5 per cer.t. in the aggregate sheep flocks of the world—now estimated at 6CO millions, but it i 3 at least !=afe to say that the production of wool has not increased. This reduction in numbers may possibly be covered bv the increased v.-eight of the fleece. On the other hand, tho world's wool-using population ha; increased during the same peried of fifteen yeive by about ICO millions, besides which the increased we;Uth n.rd eonr-eoucnt expanded buying power of European, American, and Continental nations, together with more luxurious tendencies, must have ?.■ favourable influence 02 consumptive demand and on prices. Those who travel extensively cannot fail to observe that European woollen clothing is beinj used everywhere more and more largely, and, in the absonco of effective substitutes, nothing Mr. Cooke thinks can cheek thia tendency. Great' numbers or people who formerly wore cotton garments are discarding them for woollen, and nobody with their eyes open can fail to soo what an enormous growth there must have besii in. for iustance. such trades as carpet-making during tho past twenty years. Tho great hotels and vast retail emporiums of the world are an object lesson in this respect, while, of course, the bettor ar.d thicker quality carpets now used by the people generally in their homes call for more vool._ The enormous expansion of population in North America and the knowledge that their domestic wool clip is decrear-inc. or c.t riiiy rate is at i\ standstill, confirms the belief that tho American, woollen manufacturer must look more and more ,to foreign sources of supply, aud that, too, despite a!! financial or other temporary drawbacks. When we look ahead and further afield ar.d observe tao development:; in

■'.fee Far East, and when it is stated that Japan. Chinn. and India are annually increasing their purchases of wool in Australian markets—last year they were more than double those'of the previous season-

it will bo clear that nothing can interfere with n, continuance of tho growth in consumption. The one clear and. outstanding fact regains that production has been overtaken by retirements, and this should quickly had to more wool and mutton being grown to meet that deficiency. GOLD PRODUCTION. The gold yield, of Australasia continues to decline, the returns for the eight months f the current year showing a decrease of 155,012 fine ouncw, of which the Commonwealth accounts for 143,766 ounces, and New Zealand for 11,246 ounces. The figures of each State compaxo as under: —■ 1910. 1911. os. o:. Victoria ...: 381,798 339.C92 If.S. Wales 127,191 118.443 Queensland 283,462 249.473 : W. Australia 955,619 ' 9C6.695 Tasmania 25.5C0 25.5C0 S.. Australia S.CCO S.CCO 1,788,570 1,644.804 New Zealand 300,052 2ES.EC6 2,088,622 1,933,610 The figures for South Australia and Tasmania arc only approximate. The Victorian output has declined 42,106 fine ounces, New South Wa!c3 shows a shrinkage of 8748 ounces. Queensland 33,989 ounces. West Australia 58.923 ounces, and New Zealand 11,246 ounces. KOTES. " At the annual meeting of Mcllin's Food Company for Australia and New Zealand, Limited, which tkv? held in London on August 9, Dr. J. J. Pilley (the chairman) said tho profits for the year were. £4508. After payment of a dividend of 6 per cent, upon the preference shares, there remained a sum of £745 to carry forward. Wax has been got from more than one plant nowadays, and may, perhaps, even Do produced commercially. In Java, arrangements have been made to extract annually 40C0 tons of wax from sugar cane. A specially hard wax is expected, which should find a bettor market than beeswax. The extraction process, it is believed, will cost only from 2}d. to 4d. per lb.. and a price of at least 13. per lb. is hoped for. During the first half of the current year tho capital applications in London for rubber propositions amounted to £S.CC4,ECS. The Alaskan salmon pad; for 1911 h given as 720,000 cases, r.3 against 914,050 in 1910, and 1,148,0C0 cases in 1909. Tho rice crop of Siam has failed, and that country is threatened with famine. At Singapore there has been a sharp advance iu price?, and it in acknowledged that the situation in regard to the rico crop of the world is not without anxiety. The whole of tho Malay coast is experiencing a protracted drought, and one of the articles of common consumption which i 3 affected by the adverse conditions is tapioca. . Besides keeping the crop short .!s drought affects the quality of the yield. The lack of water R<>is to tho difficulty of manufacture. An immense amount of water is used in tho manufacture of to the want of rain, and they are in a turbid condition, which makes it practically impossible for the nil's to produce a first-grade eced. Ilenre supplies will be short aud the price will be high and tho quality will be indifferent. The south-west monsoon if it blows heavily backs up the rivers, so that supplies have difficulty in getting down to the coast ports for shipmeut.

Customs revenue collected at the nort of Wellington yesterday amounted to £1614 IMPERIAL CONSOLS. By Telecraph—Press Association—Copyright London, Sentember 24. Imperial Consols are ouoted at £77 2s. 6d., an increase of 7s. 6d. since last auotaLIOU. DECLINE IN TIN. By Telegraph—Press Association—Copyright London, September 24. Tin.-Spot, £172; throe months. £169 10s. The decline is attributable to laree holders celling. FROZEN MEAT. By Telegraph—Press Association-Copyright London, September 24. Tho Frozen Heat Trade Association's SmithQcld market quotations for the unidermentioned of frozen meat, are based on actual sales of not less than 0110 hundred carcasses of mutton or lamb, or twenty-five Quarters of beef of fair average quality. The quotations are not for selected lines, but for parcels fairly representative of the bulk of the shipments now on the market. Tho nricoa which follow are on an averaee a farthing per lh. more than the value ex ship, this difference representing an average cost' in expenses, handling, conveyance, and selling tho meat:— Mutton— Sep. 16. Sep. 23. d. d. Canterbury, 'light 4} 41 Canterbury, medium 4J. 4$ Canterbury, ireavy 315-1G 4 Southland 315-16 315-16 North Island, best 315-16 315-16 North Island, ordinary ... 33 33 Australian, liaht 3J 2\ Australian, heavy 3,1 3 3-16 Itivor Plate, light 33 33 - Hiver Plate, heavy 3 7-16 3 7-16 New Zealand, ewes 3 5-16 33 Australian., owes 3 5-16 3 5-16 Hiver Plate ewes 3i 31 Lamb— > Canterbury, licht 5 5-16 5 5-16 Canterbury, medium 5 5-16 5 5-16 Canterbury, heavy 5 5 Southland 5J 5j North Island, selected ... 5J 5j North Island, ordinary... 51-16 51-16 Australian, best — _ Australian, fair — _ Australian, inferior — _ JUver Plate, first 43 43 Hiver Plate, second 4J 4j BeefNew Zealand, o.v. fores ... 2fi 23 New Zealand, ox hinds ... 31 53 Australian, ox fores 2ii 23 Australian, ox hinds 3jj 39.15 Jiiver Vlate, o.t fores Tα 23 Hiver Plate, ox hinds ... 3? 53 Hiver Plate, chilled fores 21 3 Hiver Plate, chilled hinds 4j 4,1 HIGH COMMISSIOXEK'S CABLEGRAM. The Commerce Division of the Department of Agriculture, Oommaro, and Tourists has received the following cubicKrain from tho Mich Commissions: , for New 7iCo.laiul, datocl London, Scpti'inbsr 23. (Note—Quotations, unless otherwise .spedMutton.—The market is ouict. but firm: stock i* moderate. Canterbury is source. Canterbury. 45d.; Canterbury light-weisht, ."3d.; North lilaad lioavy-welsUt, J;d. per

I.arab.-Tho market is firm; a larco supply of Scotch and Dutch this week afi'ccttd the market. The demand is falling off, hut output is satisfactory. Moderate euhi>lh'3 roming forward. a.nd prices aro well m-ain-i.iincd. Canterbury, sid.; other than Canterbury, s,\d. per lb. lieef.-The market is iiiiiet. but holders arc firm. Market has been favourably affected by chilled beef. Offcriußa are very smaJl. New. Zealand hinds, 33d.; fores. 23d. per lb. Pork.—Now Zealand pork, sd. per lb. Butter.—Tho market 13 lino, with an upward tendency on account, of a, moderate nipply; Irish strike al™ affects the markc'j. Danish, !3ss.; AusitraU'Oii, 1255.: Siberian, 12h. per cwt. Cheese.—The market is active, with a good'tlcmand, and hoVders are firm. Canadian, 725. per cwt. New Zealand cleared. Hemp—The market k miiet. but moderate busine-n doing. Now Zealand pood fair per ton, £19 155.; fair crnde. £18 15s. Fair current Manila, £20. Forward shipiuenlXcw Zealand eoocl fair, £20. The outDiit from Manila for the week was ZS.CCO •bales. Wool.-Tliq market is tiuiot and small business doing. , , Wr-esi. —There is a poor demand; buyers are "holding back on account of hicli prices; Xew Zealand lone berried wheat root ex irrauary, per quarter of 4961b.. 3te. 6.1; short berried. 335. 6d. Oats.—Market firm ovrinir to reduced midn\k<. New Zealand oats short (sparrowbills), ex granary, snot, per quarter of 3341b 21s. 9d.; Danish, per quarter of 3201b., ISs. 3d. Beans.—There is a, firm market; sunply is running short. Home prop is small arid of average quality. New Zealand beans f.a.a. (old crop), per 5041b.. 345. 6d. Peas-Market very quiet, nothing dome. New Zealand peas (partridge), l)er 5041b.. 39s Cocksfoot Scod.-No chance to report. (Note—Tho previous report on cocksfoot was that dated AußUst 26. .and read as follows, Yiz.: Tho market is quiet. It is reported that the Continental crop is medium in quantity, and of good quality, and selling at 655. per cwt.)