COMMERCIAL 11 EMS.

Dominion, Volume 5, Issue 1393, 20 March 1912, Page 8

COMMERCIAL 11 EMS.

INVESTMENT SHARES. Tho sales recorded yesterday were: Wellington Trust and Loaii ; it £» l?s. 6d., and Golden Bay Cement at 255. The buying niid celling Quotations were as under:— Buyers. Sellers. £3. d. ■ £s. d. Bank of New Zealand ... 11 0 0 — National Bank 5 17 0 Christchurch Gas 9 0 0 9 4 0 Well. Gas (£10) 18 0 0 - Standard Insurance — , 1 10 9 Christehureh Meat — 15 12 6 Gear Meat (£4) - 13 0 0 Meat Export (£4) — 5 0 0 Meat Export (525. 6d.) ... — 219 0 N. 55. Shipping — 1315 U XTniou Steam 2 10 — Well. Woollen (pref.) 2 17 6 ' 2 19 0 Westport Goal 17 0 — Westport-Stoekton 0 10. — Ley land-O'Brien — 19 6 Taringamutu To tar a' 2 6 6 — C. M. Banks, Ltd — 0 19 6 Golden Bay Cement 14 6 — Sharland's ordinary — 14 6 W.F.U.A. (£5) - 7 5 0 • OIL COMPANY PROSPECTS. The "Financial Times" of February 3 makes some references to existing; and prospective oil companies. It says:—"Two classes of persons associated with tho petroleum industry are passing through a period of anxiety just now—the promoters of companies not yet floated and the directors of a number of concerns varying in age from one to three or four years, which arc ncaring the end of their working capital. We have quite- recently discussed the position of the former class as a whole; one or two individual ease 3 may here be mentioned. The public issue of a New Zealand company, with a capital of £400,000, is being much more freely underwritten in tho Dominion concerncd than has been the case here, ludccd, it is the cautiousness of Loudon underwriters which is delaying the issue. In the. ea-sa of a group of United States proper- < ties, with a seven-figure capital, mention- t ctl lately in those notes, the principal ■ member of the London firm of promoters i has gone to New York to confer with the American gentleman who is purchasing ] the various properties to be consolidated ] for public issuo. There has been a legal dispute between the latter gentleman and certain of the vendors, and the raftttor has been taken as far as the Courts, but during the last few weeks substantial payments have been made on account of the options held. With respect to com- . panies whose operations have not been * successful, and whose cash resources are fast disappearing, it is only fair to state that in each case those in charge are now straining every nerve to prevent' a fiasco, iln one instance, after two years of abortive work, drilling has-been stopped and tho crew withdrawn, it being recog- < liiood that to go deeper would be waste of money. Another board of directors is making hasty efforts to instal a new method of drilling, which they hope will bring results quickly and avoid disaster. A third is busily seeking expert advice ' as to new sites for drilling. This activity ( cannot be too highly commended, but it ( would have been infinitely more valuable 2 had it bc6U shown at the outset. Un- t fortunately the three instances given are i of concerns in which there was either not 1 a practical oil mau on the board, or preference for a particular method consumed much valuable time, when qu'ck tests i should have been made. It is doubtful whether, when shareholder*; next meet, they will appreciate the real reasons for the unsatisfactory story they will be told. < In any case, several names will have to be added in the near future to the list of companies which, having started under [ fair auspices, incur failure in a greater or less degTee." \ TRADE IN ALLEN STREET. Fruit—Only light shipments of Island camp to hand, and extreme rates were realised. Practically ?io fruit is coming from Sydney this week, due no doubt, to tho high prices ruling in the Australian markets. Pears and choice dessert apples have advanced in value, and consignments : are recommended. Tho market is exceed- 1 ingly bare of plums, and excellent prices 1 arc being obtained for all lots coming < forward. Daily consignments of peaches ' are coming in from the Hawkc's Bay anil | Mutueka districts, and extremely low , prices have to be accepted to quit. The \ position is somewhat similar in the south. Some excellent pauiplcs of tomatoes ore coming in from the llult at the present time, and these are jnaki'ng the bast i prices.

Vegetables.—Pumpkins have fair inquiry, and so also have French beans, carrots, parsnips, and marrows. Cabbages continue very dull, and continue to eell .it Gd. to Is. per sack. .Poultry is in heavy supply. Hens, 2s. 6d. to 3s. a pair; roosters, 3s. to 45.; ducks, is. to ss. Cheese meets with a good demand, medium 7d„ loaf 7Jd. to 7Jd. Butter.—Prime milled, in bulk, is in excellent demand at ltd. to lljd. per lb. Fresh eggs meet with ready sale at Is. 6d. per doz.en: preserved, Is. 2d. to Is. 3d. Hams and bacon are in fair demand. Sides. 91d. per lb.; rolls, 10id.; shoulders, Bd.; linms, 9d. Jtai/.e is in short supply, nnd tlie market ranges from 4s. 7d. to 4s. 9rt. per bushel. Baled straw is exceedingly plentiful, and priccs range from 60,5. to 70?. per toil. I'eed barley is dull of sale at 3s. 31. por bushel. Cape barley has moderate inquiry at 3s. 9d. to 4s. Chaff.—Prime oaten sheaf is selling at £4 ss. to ,£4 15r. per ton, sacks in. Oats.—The markot continues steady. Oartous "A" tirade, ?.s. lOd. lo 3s. per bushel; "H" Grade. 2s. 9d. to 2s. tld.; Algerian, 3?. to 3s. 3d.; Dun. ICd. to 3.-. Oatmea.l.—Very little is doing at present. The Wellington quotation ir. £14 10s. per ton, with prospects of a further decline. Oat in a, in 41b. bags, in selling at 10s. per do'/.cn, and rolled oats at Bs. Gd. Flour.--Host known brands arc quoted nt £8 103. per ton f.o.b. south, less usual discount. Bran nieots with fair inquiry at £5 IBs. to £5 15a. per ton.

l'ollartl enntinwts in short simply, and the current imuhMiou is £7 10s. to .£8 per ton. Onions— I'rhuc samples are ruling; al Bs. to Ss. 6i1., ollieii= at ss. to ss. 6tl. per ewt. There is an excellent ilcniaml lor pickling onions at. Id. to Mil. per lb. Potatoes.—The bull; of the supplies are comin? from Hie south, nnil tile prices range from 4s. 3d. to ss. per ewt., according to samples. Customs duties collected at. t.lie port of Wellington yesterday amounted to £2415 12s. 7d. MUTUAL IjIFK AND CITIZKXS' ASSUHANCK COMPANY. By Telegraph—Press Association-Copyright Sydney, Mm-cli 19. At the annual meeting of the Mutual liife and Citizens' Afi-nranee Company, which recently took over the business of tho Australian Willows' Fund Life Assurance Society, it was stated that tile new business represented 13,542 policies, attsurinp £2,511.800. The total surplus was £208,235. The year was t.ho most successful on record. WHEAT. B) lelerraph-Press Association—OopyrinV. (R-ec. March 19, 9.10 p.m.) London, March 19. Wheat—Two Australian cargoes have been sold at 375. 9d. FROZEN MEAT. (By Telegraph—Press Association.) Chrlstchurcli, March 19. The British and New Zealand Companv has received the following London meat cablegram:— "Mutton, Canterbury, 4d. to 4Jd.; North Island, 3jd. Lamb, Canterbury, 52d.; North Island, sld. Beef, hinds, 3Jd.; fores, 3d." BEET SUGAR. Br Telesraph—Press Association—Copyright London. March 16. Herr F. O. Licht, the well-known sugar expert, of Magdeburg, in his monthly circular, states that the production of beet sugar in Europe shows a decrease of 1,628,C0S tons. Jte estimates that for the season there will bo a total falling-oil., of 1,796,GC0 tons. SILVER. ■ByTelegraph—Press Association—Copyright London, March 18. Bar silver is Quoted at 26Jd. per ounco standard.