COMMERCIAL ITEMS.

Dominion, Volume 5, Issue 1535, 3 September 1912, Page 8

COMMERCIAL ITEMS.

INVESTMENT SHARES. A sale of New Zealand Insurance shares at £4145. was the only transaction recorded in investment shares yesterday. The buying and selling quotations were as -under:— Buyers. Sellers. £s. d. >£ j, d. Well. Trust and Loan , (now issue) — 12 6 Well. Gas (£10) - 18 2 6 Moat Export (525. 6d.) ... ■ — 3 10 Union Steam 2 7 0 — Well. Woollen (ord.) 3 15 0 4 0 0 Westport Coal 18 0 — Taringamutu Totara — < 2 6 6 Golden Bay Cement — J. 1 0 N.Z. Con. 1 Dental — 12 0 N.Z. Portland' Cement ... 1 7 0 — Sharland's ordinary —• 13 0 Sharland's" preference ... 1 2 9 13 3 DAIRY PRODUOE MARKET. In their "Imported Dairy Produce Circular," dated London, July 26, Messrs. W. Weddel and Co., Ltd., report on the markets lis follows:—

Butter.—The weather has remained fair with a. higher temperature. Australian butter ie meeting a quiet demand, except for very finest quality, which is very scarce, and is making 110s. to 112s. for salted, with 2s. more for unsalted. Ordinary ealted Australian is making 106s. to 1C3.5. New Zealand arrivals are almost nil, and what trade is passing consists of rc-sales. /"Choicest" salted makes 118s., and unsa-ltod 120s. Arrivals of Australian tlvis week amount to 8217cwt. The shipment from Australia, this week consists of 163cwt. in the 'Otway. The demand 'for foreign butters is improving, and prices are advancing. Danish and Swedish are 3s. per cwt.' higher than a- week ago. Siberian arrivals a,re very large just now, and a considerable quantity is finding a homo in cold store. The dairy organisations, in Denmark are endeavouring to secure moro power in fixing the weekly official quotation for Danish butter. They are claimiug a, greater representation on the cd'miolttco than the merchants. There is no doubt in this country about the unsatisfactory manner in which the quotation has been fixed for .the/past year or two. It is to be hoped that the result will be to establish the quotation on n. footing that will restore the confidence of the trade in the United Kingdom.

Cheese.—This market is at the present time being affected by the comparatively large arrivals of Canadian eompuml with a month ago, but they are about'the same aa in July, 1911. Prices in Canada have advanced J per cent, per lb. On the spot there is an easier taiic. New Zealand is making 655. to 665. for white, and 665. to 673. for coloured. Canadian ratts are'64s. to 655. for white, and 655. to 665. for coloured.

BRITISH IMPORTS. According to a- White Paper issued by the Commercial Department of the Board of Trade, dealing with British trade in 1911, there was a fall of rather more th.in 1 per cent, in the average values of imported food, drink, and tobacco, while the aggregate quantity imported increased by nearly |33 per cent. In this' group, the greatest fall in average. values occurred in the cases of wheat, meal, and flour (5J per cent.),- wheat (55 per cent.), beef (It pt-r cent.), hams (121 per cent.), bacon (145 por cent.), and lard (24 per cent.). At" these lower average values, the quantity of beef imported increased by 6J per cent., bacon by 26 per cent., hams by 323 per cent., lard by JB.\ per cent., whe-ai, meal, and flour by α-littlc more than 1 per cent., but the quantity of wheat imported declined by 7 per cent. The imports of barley and oats, eggs, raw fruits, onions, nisins. unrefined (-sugar, and tea. increased both in average value and* in volume. Among articles which increased in average values, but d"olinud in volume, were rice, live animals (for food), cheose, fish, hops, potatoes, coffee, and wine. Taking this group 3S a whole, it appears that the imports, of 1911 (estimated at the average values of 1910) exceeded the imports of the latter year by nearly £10.030.000, although the actual cost was greater by only about £6,500,000. the saving being due n-.ainly to the , reduced average values of moat and wheat.

.JTANGAOJJE OILFIELDS. The Mangaone Oilfields Company was Tecently formed, meet of the shareholders being in the llawke's Bay district. The company's baring rights cover very good country, at least the reports of tho experts are of an extremely satisfactory nature. The company has entered into a contract with Messrs. J. H Herman and E. J. Weger to drill two wells, each 3000 ft. deep, with a time limit of six Drilling hitherto has been a difficult matter, owing to the absence of expert drillers and adequate plant, but Messrs. Herman and Weser are expert drillers, and have had a particularly fine drilling plant made at the foundry in Napier. The drillers accompanied by Mr. M. F. Bourke left Wellington yesterday for the oilfield to fix sites for the wells. In about a. month's time drilling operations should be' In full swing.

CUSTOMS. The Customs revenue collected at the port of Wellington during the month of Aucust totalled £69,492 Bs. Bd. The returns for ench of the past eight months, compared with the figures for tho corresponding months of last ,ycar, show as under:— 1912. 1911. . £ £ January 84.460 70,809 February 72,741 68,223 ■ March 74,484 70,067 April 67,986 62,891 May 61,667 63,203 Junß-.: 65,237 51.514 July 59,533 86.342 August 69,492 77,402 555,600 550,451' The beer duty collected last month totalled £1072 125. , 9d., as against £1028 18s. for August of last year. HOTEL TRANSACTIONS. Messrs. Dwan Bros, report having sold Mr. J. Sullivan's interest-in the lease .furniture, and goodwill of the Imperial Ilotel, Cuba Street, Wellington, to Mrs. K. M. Davey, late of Greymouth; Mr. diaries Bird'e inttrest in the lease and furniture of the Forresters' Arms Hotel, Qhuznce Street, .Wellington, to Mr. Danie! Buckley, of this city: Mr. Thos. Dovan's ! 'itj>rest in ■ o ■

flolcl',~ManaHau," Manttwatu Line,"" l6~TiTf Hector Koss, well known in Napier; Mr. Henderson's interest in!the lease, furniture, and goodwill of the Eailwav Hotel, OUro, U. 8.. to Mr. V. A. Jprgenson, formerly of Kilbirnie; Mr. Thbs. Ca-Uaghan's interest in the Albion Hotel, Shannon to Mr. James Johnston, lately of Marlborongh: Mr. S. J. Flew,ellyn'6 interest in the freehold of the Ship Hotel, the Port, Nelson, to a Wellington resident; Mr Jl'Ciirty's interest in Hie lease, furniture, *uul goodwill of Hie Family Hotel, Palmerston North, to Mr. Thos. Green, late of Te Iloros Mr. Ernest Cheesemnn's interißt in the Post Office Hotel, Picton, to Mrs. B Doolcy, late . of the Castlceliff Hotel, Wo.nga.nni; Mr. Bronlee's interest in the Salutation Hotel, Thames, Auckland- to Mr. William J. White, formerly of Whyto's Hotel, Foxton: Mr. .1. H. Tully's interest in the Empire Hotel, Fcathereton, to Mr. G. R. Gibson, formerly of Levin: Mr. J. O'Meara's interest in the lease, furniture, and goodwill of the Manchester Hotel, Feilding, to Mr. Martin Berlin, formerly of Ingiowood; the lease and furniture of the Tueru Hotel, Masterton, u> Mr. Hichnrd Grylls, formerly of EU-h.im; Mr. Diehard Quinn's interest in the Provincial Hotel. Upper Hutt, to Mr. Erncft Crabtree, formerly of Xorsewood; alto the lease of l.hf! Sliln Hotel, the Port, y«Uou, to llr, Oivas. WSUiaaii lately of &yio, " •

HIGH -COMMISSIONEB'S CABLE. The New Zealand Department of Agriculture, Industries, and Commerce has received the following cablegram from the Uigh Commiseioner for New Zealand, rtaled London, August 31. (Quotations, unljss otherwise f-pecifled, are average market prices on spot):— Miitton.-The market is firm, with more inquiry for forward delivery. Canterbury. 4:, d. per lb. (light-weight); W. dicavywcights). North Island, 4 3-Bd. (lightweight); 4'd. (heavy-weights). r-wes, 4(1. (Kraall business doiiiff and prices weak in the market.) Liml>.-Thc demand is .-hiefly for mediumweight*. Canterbury, 53d. per lh.: other than Canterbury, sJil.; IMate, <3d. Beef.-Tlie market is steady, but without animation. Quotations show a wcnjier tendency on account of the plentiful offerings of chilled. New Zealand hindP, 3Jd., per lb.: foras, 3Jd.; Mate, chilled hinds, IA.; fores. 2Jd. Butter.-Thc market is quiet; prices slightly weaker, event, for best quality, which is scan-c. Banish. 128;. per cwt.; Australian. 1105.; Siberian, 106s. Chee«c.-The market is firm. The supply cf New Zealand is practically exha'ustcd. The average price for the week for finest New Zealand per cwt. is 675.; Canadian, 665. to 675. liemp.-The market remains firm. A good business lias been done this week. Spot: Now Zealand Rood fair. £27 10s. per ton; fair grade, £25 ICe. to £-25 for any positions. Fair current Manila, on spot, £26; forward shipment, £26 15s. to- £27 per ton. Tow: First grade, £16 per ton; third grade, £15. Tli2 output from Jlauila for the weok was 27,000 bales. Wool.—The ma.rkct remains firm. , Kauri Gum.-Thc market is firm, with .an improved demand at higher prices. Dark brown selected, re-scraped; 120s. to ltCs. per cwt.; three-quarter-scraped, BEe. to 1003.; chips, drossy, 30s. to 455,; rc-6craped pale amber. £11 to £13: three-quarter pale scraped, 150s. to 1705.; diggers' chips, good, 50s. to 605.; 525 cases ofTered; 300 cold. Stock. 257 tons. ...... Wheat.—The market is quiet but steady. New Zealand long-berried wheat, ex grana.rv, per quarter of 4961b., 41s. _ Oats.-The market is steady, and fair business doing. . Peas.-Tho market is rather quiet: demand is getting better. New Zealand peas, partridge, per 5041b., 40s. faew crop). Heans.-The ma.rket is dullSPvery little business doing. New Zealand beans. X.a.q. (old crop), per 5041b., 375.; forward shipment, sos. , ' ' Cocksfoot Seed.-The market- is unchanged. THOZEN MEAT. By Telegraph-Press Aesociation-Conyright London, September 1. The Incorporated Society of Meat Importers' Smithfield market quotations for tho undermentioned classes of frozen meat , are based on actual sales of not less than one hundred carcasses of mutton or lamb, or twenty-five quarters of beef of fair average duality. The quotations are not for selected lines, but , for parcels fairly representative of the bulk of the shipments now on the market. The prices which follow are on the average a farthing per lb. more than the values ex ship, this difference representing a.n average cost in expense, handling, conveyance, and selling tie meat:—

' Aug. 24. Aug. 31. Mutton— d. d. Canterbury, light 4 3-8 45 Canterbury, medium 43-8 4 3-8 Canterbury, heavy 4J 41 . Southland 41 4 3-8 North Island, best • 4J 4 3-B North Island, ordinary... 4j 4 5-16 Australian, light 41-16 4J Australian, heavy — — River Plate, heavy 4 41-6 New Zealand ewes 35 4 Australian ewes 4 41-16 River Plate owes — — L&mb — Canterbury, light 53 513-16 Canterbury, medium ..-. 5 9-16 53 Canterbury, heavy 51-16 51-16 Southland 5B Sjt North Island, ordinary... 5 9-16 5 9-16 North Island, selected ... 5S 53 Australian, best 5i — Australian, fair 6J ,- — Australian, inferior — •— River Plate, first - — River Plate, second — ' — Beef-

New Zealand, ox fores ... 3J l\ New Zealand ox hinds ... 35 33 Australian, ox fores 3 31-16 .Australian, ox hinds 33 3J River Plate, ox fores 3 3 River Plate, ox hinds 35 3^ River Plate, chilled fores 3* 23 .. River Plate, chilled hinds 48 4 Rabbits.—Tim market is firm, and prices are unchanged.

WHEAT. By Telegraph—Press Association— Conrricht London, September 1. . The wheat market is inactive. An Australian cargo sold at 40s. 3d. Sellers aro firm; they are asking 40s. 6d. for off-coast and August Ghipment. ' (Rec. September 2, 10.30 p.m.) London, September 2. The wheat and flour afloat for the United Kingdom tot,* 2,270,000 quarters, for tho Continent 1,830,003 quarters. AtlaUMc coast shipments, 339,000 quarters: Pacific coast, nil. Tho total estimated yield is:— Europe, 1.275,000 qunrtcrs: Argentina., 135;C00 quarters: Russia. 340,000 quarters; Dn-Tiubian districts, 150,000 quarters: India, 126,000 quarters; Australian, 57.0C0, quarters. The market ie steady, but quiet. SILVER. London, September 1. Bar silver is quoted at 29 l-16d. per ouncs standard. The statistical position of silver is very bullish, owing- to- tho prospect of heavy American requirements in the near future. I SYDNEY BUTTER MARKET. By Tclecraph—Press Association—CoDyrieht (Rcc. September 2, 9.40 p.m.) Sydney, September 2. Butter has been reduced in price by 6s. per cwt.