COMMERCIAL ITEMS.

Dominion, Volume 5, Issue 1282, 10 November 1911, Page 8

COMMERCIAL ITEMS.

INVESTMENT SHARES. The sales recorded yesterday were- Mannine and Co. at £3 195.. and Rogatire Co (£1), at 3s, 6Sd. The buying and selling quotations were as under. Buyers. Sellers. £ s. d. £ s. d Bank New Zealand — 12 1 0 National Bank — 6 10 Union Bank 65 0 0 — Well. Investment 0 11 9 0 12 0 Canterbury Meat 8 0 0 — Christclmrch Meat — 14 7 6 Union Steam 1 19 9 — Well. Woollen (ord.) — 4 0 0 Well. Woollen (pref.) ... — 219 0 West-port Coal — 19 0 Manning and Co — 4 0 0 N.Z. Paper Mills 10 0 — Shetland's ordinary 13 6 14 6 Sharlandvs preference 13 6 14 6 Well. Opera House — 5 0 0 Whitcombe and Tombs ... 6 12 6 6 13 6 Wilson's Cement 2 10 — COMPANIES REGISTERED. According to the last issue of the "Mercantile Gazette," the following new companies have been registered:— William Cable and Co., Ltd. Registered as a private company on November 1. Pftice._ Kaiwarra. Capital £25,CW, divided into 25,(M) shares of £1 each. Subscribers, William Cable, 24,985; Wm. Cable, iun., 5; James Cable, 5; Alex. Cable, 5. Objects: The business of engineers, brassfounders, beilcrnaltcrs, ctc.

OlUce Appliance Co.. Ltd. Registered as a. private company on November 2. Office, 19 Cuba Street Extension. Capital £SCCQ, divided into SWXI shares of £1 each. Subscribers. H. 11. Fox. C2GO; Ellen Fox, 500; E. 15. Brown, 2CO; J. E. S. Lord, ICO. Objects: To carry on the business of general merchant, importer, indent agent, commission agent, ajid to acquire the business now carried on by Henry Alfred Fox, ?mder the style of "Tho Office Appliances Company."

LONDON STOCK EXCHANGE. The monthly list of' Stock Exchange values published by the London ''Bankers' Magazine" again makes depressing reading. Following upon a heavy fall of over jG7J.CCO,CCO in August, for the four weeks ended September 21, a further shrinkage of £52,771,CC0 is recorded. Political uncertainty, which affccted the Continental bourses quite as much ae London, was tho j main adverse factor, but the continued , labour unrest both in Great. liritain and 1 abroad contributed to th? downward movei meni of values. Practically, says the "Magazine," the only section of the speculative market which ha? resisted the general depression has been that of rubber {•hares. whore after the recent prolonged fall there has been a moderate recovery dnrins tha month, ten rearofemativc -companies show-ins a rise of £310.CC0. or about 3.8 per cent. In this connection it is interesting to rend the remarks of the "Kolnicche Zeitung" on the slumo in share valuos on the German Stock Exchanges. This journal, whilst admitting tho *'nfiuenee of the Morocco ciucstion. claims that oiher factors have to be taken into consideration. These are the slutting of tho Loudon and Paris markets with, new issues, and tho heavy depreciation of railway shares due to strikes, which creatcd a feeling of distrust amonc English investors. As an underlying cause, it is mentioned that American magnates wished for a fall, perhaps in order to shake out European and particularly German, speculators, in which they succeeded to some extent. Berlin, it is chimed, was by far the most stable market until the German public became seized with tho 1 Morocco norvousness. "A certain malicious i satisfaction," states the "Zeitung," "reigned on this account in the camps of Germany's opponents in the Morocco busin2ss, the Biblical axiom about the beam in one's own eye being unfortunately forgotten." Criticism of German finance is evidently not appreciated in certain quarters.

A recovery appears to have rincc taken place, for Consols have risen to 79, and colonial Government securities ars also higher. IMPORTS OF FROZEN MEAT INTO UNITED KINGDOM. The imports of frozen beef and mutton into the United Kingdom for thc-first eight months of the present year, compared with those of the two previous years, are as follow MUTTON. ■IK-9. 1910. 1911. £ £ £ Uruguay 78.434 128,346 108,671 Argentine 1,491,360 1,413,947 1,876 853 Australia ... 1,126,479 1,734,541 1,543,024 New Zealand 3,058,531 3,683,014 3,302.(23 Other couniriss 1E8.523 190,732 111,560 5,923,327 7,150,580 6,942,736 BEEF. 19C9. 1910. 1911. £ £ £ U.S.A 27.208 9,Ml 5,853 Uruguay 169.5JJ !.70,1t7 77,549 Argentine ... 2,217,576 2,297.5:09 2.359.C95 Australia ... 243,601 597,326 503,473 New Zealand 470,415 619,849 300,C0S Other countries 11/99 17,454 29,764 3,145,029 3,711,036 3,276,536 It will be noticed that the receipts of mutton from all sources other than Argentina ehow a considerable shrinkage. That country, however, has increased its trade in frozen mutton with the United Kingdom this year by £<62,9C6. In the imports of beef exactly the same thins again occurs. Argentina is the only country to show an advance over last year's ilgures.- In this instance the increase amounts to £61,886, THE BUTTEK MARKET.

The London correspondent of an Australian contemporary writes that the chemist of tne Government Laboratory, in dealing with the water contents of Australasian butter, states that the average quantity of water in Australian butter in 1910, speaking of the results of his tests was 12.95 'per cent., and in New Zealand butter 13.C6 per cent. Of Australian 199 samples were taken, and 96 of New Zealand. Of the former 60 samnlcs contained from 13 to 14 per cent, and 19 from 14 to 15 per cent.; three samples only went so low as 9 to 10 cent—two samples ran from 16 to 17 per cent. The report states.—"lt appears from these (igiu-es that, while occasional samples of colonial butter ore found in the 'dry' condition, which formerly characterised such produce, the bulk of the butter imported from Australia and Now Zealand is now very much iu tho same condition as regards its water conas tne butter produced in this coun''ul 4i.- Says "P„l oceT " in connection with this matter:— The opponents of proposals to fix etandards for various foodstuffs assert that the effect of settinir iin such standards is disadvantageous to the public rather than beneficial, as mo=t producers'arc content to work down to the standard, whereas formerlv thev aimed at a considerably higher grade, expecting to reap the reward of their enterprise and e/ucicncy.

FISHINESS IN NEW ZEALAND BUTTER. Messrs. Wright, Stephenson and Co Ltd.. have received the following from a correspondent in Canada:— "He tisliiness in New Zealand butter. In a long cxpericnco I have found that corailed Tisliiness' eoines from various causes In the earlier days it. seemed to come from flsli itself spread upon soil, and gave the flavour which v;a.s so common in buttT from Holland and from sum- jd-cea h, this Miliary. . In later days it has been attributed mainly to salt-not always ««— sometimes from the salt itself, but motf frequently through the bags containing the salt. I know of many instances wh-re bags, standing about in a crcamerv have taken in flavours from dirt of Virimi« kinds, so that the huttor had a flivour which was called 'fishy.' Since we ha"e almost entirely abandoned usin* in bags in any of our creameries in Canada we have had little or no fishine« yd matter how perfect the salt may be vlicn

shipped from England, it rooms to in-lco on llavours on shipboard, hut on other occasions we have fomul t.!ic salt all right when first lifed in the factories, hut after it. hn.rt stood a whiln the butler with which it. was salted been mo fishy. We uce barrel salt made in this country, and since it came into use we havo had little oi do fi=hiiJt'Srf Jii butter. £alt will tnko in flavours from quite a lonp distance away, and the best way to avoid flelunr. c :< is to keep the sait in a receptacle whoro it will not absorb fmells or bacteria from any source." Customs duties collected at the port of Wellington yesterday amounted to £2165 10s. Id.

MINERAL OIL. GOVERNMENT BONUS OFFERED. A bonus of £10,000 will be paid for tile production of mineral oil as follows:—(a) jCioAl to be paid on proof being submitted that not less than 250,UU gallons of marketable crude oil has Oec.it won. (h) £2:10 to be paid on proof being submitted tat not Jess than sw.ltt galloys of marketaolo crude oil lias been won. (ei £&x,O to be paid on proof being submitted that not less than I.ttO.CIO gallons of marketable crude oil has been won. (d) Tho balance of £2511) to be paid !o the person or company who fli'6t produces by his or its own refining plant 6tW,U.O gallons of refined inineruj oil. "Marketable crude oil" shall contain not less than 9J) per cent, of products (excluding water) wnich can he obtained by distillation. "ttelincd mineral oil" may include benzine, petroline, kerosene, or lubricating oils. The illuminating oil in tho l'eiined state to havo a specific gravity of C.814 to 0.830, and a flashpoint of not lei-o than 83deg. Falir. by tho Abel closed test. Notice of intention to claim the aforesaid bonus must be given in writing to the Minister for Mines not later than Match 31, 1912. The claim must be made and the conditions duly fulfilled on or beforo March 31, 1915. The first claimant who proves to the satisfaction of the Government that ho has fulfilled all the condition under any of the headings (s), (b), (c), or (d), shall be the recipient ot the bunus payable under that heading. The oil must in each ease bo produced from the well or wells of one proprietary only. All conditions as to quantity, quality, priority, and value to be fulfilled to tho satisfaction of an oiHccr appointed for the purpose by the Government. This offer cancels the offer dated June 1, 1909, and appearing in tho New Zealand Gazette.

LONDON MARKETS. The New Zealand Loan and Jtcrcantilo Agency Co.. Ltd., liave received the [allowing cablegram from their London house under date November 8-.—Wheat: \Yc sold an Australian cargo at 265. 3d. c.i.f. There is very, little demand owing to increa;"d supplies. The market prospects in Argentina are likely to decline. COPPER STOCKS. By Tclenraph—Press Association—Copyright (fiec. November 9, 8.55 p.m.) London, November 9. The American stoclis of copper amount to 134,993,0C«1b. TALLOW SALES. Bjr TelecraDb—Press Aesociation-CoDyrlrht London, November 6. At tho tallow sales 417 casks were offered and 141 sold. Prices were unchanged. AUSTRALIAN PRODUCE. iJy releirraoh—i'ress Association—Copyright (Ecc. November 9, 10.55 p.m.) Sydnoy. November '9. . Wheat, 3s. 6d.; flour, m tho city, £8 15s • in the country, £7 17s. 6d.; bran, £5; pollard, £5 ss. Barley," Victorian Cape, 2s. lSd. to is.; tnglish malting, 4s. 6d. to 5a : maize, 3s. 9d. to 3s. led.; oats, Xasmanian, Sparrowbills, as. lOd. to 35.; Giants, 3=. Id. to os 3d.: Algerian, 2s. Bd. to 2s. led.: feeding, 2s. fid.; onions, £5 Ids. to £7. potatoes, £4 to £5; butter, lC2s. to Ufa • 1145,; cheese, (Id. to 7id. ; bacon, id. to 7jd. „ Melbourne, November 9. «r , s es: ni, Fa,r and very firm. Ohail: The market is Ann at 82s. 6d. to ws.; compressed, uncovered, 855.; covered, •Jis.: wheat 3s. B}d. to 3s. 9d.; new, 3s. 8d • flour, £8 IDs.; oats, 2s. 4Jd. to 2s. 6d; barley, Cape, 3s. to 6d.; maize, is. <d. to •-6. 5d.; bran and pollard, £5 55.; onions, 5Gs. to 605.; potatoes, 40s. to 755. „ Adefaide, November 9. wheat, farmers' lots, 3s. 5d.; parcels are unquoted; flour, £8 55.; Algerian, oats, 2s. to_ Zi, id,; potatoes, £4 ios.; onions, £3