COMMERCIAL.

Evening Star, Issue 12647, 30 October 1905, Page 6

COMMERCIAL.

Daigotv and Company, Limited, have been advised by cable from their head office, London, that tho annual meeting of their shareholders will be held on the 9th November, when the directors propose declaring a dividend of 3s per share, making, with the interim dividend of a similar amount, already declared and paid. 6 per cent for the twelve months. £25.000 will be added to the reserve fund, which will then stand at £165,000, and, after making due allowance for possible contingencies, a balance of £56,399 will be carried forward.

THE MARKETS. Press Association—By Telegraph—Copyright. LONDON, October 20. fßeceived October 30, at 8.57 a.m.) Silver, 2s 4£d per oz. Lead, £l4 17s 6d to £ls. New Zealand hemp is firmer. October and December shipments, £3l 10s. Wlieol : An Australian cargo sold at 34s Sd. Copra : Active, and hardening. South Sea, £l6 5a to £l6 15s. Babbits : Scarce. Australian, large, 14s to 15s 6d : New Zealand, 17s to 17s 6d. Hares : Good demand. Brices unchanged. Hides : At tho periodical sales tho demand was very strong. Sydney, salted, first kips, 6-gd to 6|d ; second, Basils advanced lid to 2d ; Wellington, first, 15d to 1741! : seconds, 13d to 143 d. Leather : A farthing dearer. Wellington firsts, lid to U^d. Frozen moat ; New Zealand mutton — Canterbury, Hght. ojd; medium, 3|d: heavy. 3 9-1 M ; Dunedin and Southland, s|d; North Island, 5Ad to 3|d. New Zealand lamb—Canterbury, light, 4gd ; heavy, 3 15-16 d ; all other sorts unquoted. Beef unchanged. River Plate sheep unchanged. Beef—T>x fores, Bid : hindquarters unchanged. JAPANESE ENTERPRISE IN (TUNA.

Reports are current in the German Press to the effect that a Japanese syndicate has opened negotiations for tho purchase of all the cotton-spinning mills in Shanghai. Details are not forthcoming. There is, however, already; one Japanese mill at Shang-hai-run by 'the Shanghai Cotton Spinning Company which has been more successful than ttex other spinning mills in that town, most of which find it hard to pay their way. The spinning industry in Japan itself setans to have been carried on with very good resalts, even during the was. . Announce-

mentij of the dividends of three Osaka cot-too-Bpiiuiiiig companies show rates ranging from 20 to 22 per cent. The Japanese have therefore every reason to feel confident in their ability to run such a syndicate with good success. H.M. Consol at Madeira. (Mr E. R. K. Vicars) states that the Madeira embroidery business remains almost exclusively in (Sermon hands. In former years tiro whole of tins beautiful work was shipped to the United Kingdom, which supplied the raw materials, but it went oat of fashion at home, and the trade passed into the hands of German firms, who set about a thorough organisation of the workers, arranged for the supply of the raw materials, and obtained advantages from the Portuguese Government and their own in the shape of drawbacks on the re-exportation of the finished article from Madeira and rebates on the Customs duty on its re-importation into Germany. By this means they have secured what amounts to a monopoly of the business, all the best workers in the is'and being under contract to work exclusivity for them, so that residents complain of the difficulty of getting any private :ird ts satisfactorily carried out. Now that rtu broideries have once more come into great vogue in the United Kingdom—pan-bmarly the so-called “ brodcric anglaise,” which !S precisely the same as the Madeira work— Mr Vicaj-s thinks that enterprise and systematic organisation would revive the deui.uk! for such goods at home. Now that Japan may soon be able to turn its energies from the ways of wad - to the arts of peace, there is expectation of keen rivalry for trade in the Far East and elsewhere. The Chinese market, more especially Manchuria, will no doubt be thoroughly looked to in good time. Some indication of what may be expected is given in the electrical industry. We read that the Japanese house of Mitsui are able to turn out electrical plant from their Shibaura, Engineering Works 30 per cent, cheaper than the United States firms are able to deliver in Japan. Particulars of the work turned out at Shibaura show that the manufacture of electrical material there is conducted on an extensive scale. Fur the Japanese to begin by beating the up-to-date American in ebctrical productions is undoubtedly a smart start.

'GRAIN AND PRODUCE REPORT*. Donald Reid and Co. report: —We held our weekly auction sale of grain and pinduce at our stores to-day. There was a small attendance of buyers, but an these wero intent on business, our isitalogue, which was a fully representative one, vais cleared to our satisfaction at prices fully equal to late quotations. Values ruled as under ; Oats.—ln the absuuco of .stocks there is practically no export business being done. The few consignments coming forward are readily absorbed by the local trade at prices which lease no margin for shippers. All sorts are readily saleable on arrivaL We quote; Prime milling, 2s to 3s Id; good to best feed. Is lid to 3s; inferior to medium. Is 9d to ks ,10jd p.-r bushel, sanies extra.

Wheat.—A few salens at satisfactory prices have been made for export at Northern ports, and this liad tended to keep local prices firm. Stocks in Store here arc not heavy, and best lines arc being gradually taken up locally. Medium quality i.s not so much favored, but fowl Wheat is scarce, and has good inquiry. We quote: Prime milling, os 3d to 3s 4d ; medium to trood, 3s Id to 3s 2d; best whole fowl wheat, 2s Ud to 3s; broken and damaged, 2s 7d to 2s lOd per bushel, sacks extra. Potatoes.—Small consignments arc coming forward, and all good soils, cither Derwenta or white, meet with ready sale. Small sorts and inferior quality arc more difficult to deal with. Wo quote: Best Derwents, £ll 10s to £l2; others, £ll to £ll ss; best white sorts, £lO 10b to £ll 10s; .others, £9 to £10; inferior and small, £7 to £9 per ton, bags in. Chaff.—Prime, bright oaten sheaf maintains its popularity with local buyers. One truck of this quality, which is really the only class in strong demand, realised the satisfactory price of £4 per ton at our solo to-day. Medium and discolored lots have not the same attention, there being few buyers in the market for these kinds. Wo quote: Prime oaten sheaf, £5 15b to £5 17a 6d ; choice to £4 : medium to good. £5 5s to £3 10s; inferior, £2 10s to £5 per ton, bags extra. Straw. —The market is bare, and lx>th kinds have strong inquiry. Prime oaten would probably realise 40s to 455. wbealen 37s 6d to 40s per ton (pressed).

Dalgety anil Co. report as follows : —Wc held our weekly Kilo of grain, etc., at our stores to-day, when we submitted a email catalogue to a good attendance of buyers. Bidding throngliout wa-s brisk, and the whole of onr catalogue was cleared at satisfactory prices. Hu Hug values are as under;— Oats. —-This market is still firm. Milbng lines are iwrt now in such good demand. This, is no doubt due to tho present uneatis factory state of the oatmeal market. Shipping orders for feed linos aro not oowiltcf to hand freely, but as the quantity held by merchants is limited and very lew com ing forward, from lie- country, present in3ications are that a further advance in prices may ho looked for. We quote; Prime milling. 2s to 2,s Id ; gixsl to best feed, Is lid to & : inferior to meiiium, Is 9d to Is 10hi i>er bushel (sacks extra). Wheat.—There is a tetter inqitiiy for prime milling lines, but local millers have -not yet responded to the advance in tho Northern market, and the business passing is limited. .Medium quality is still slow of sale. Fowl wheat is in fair demand in small lots for local consumption, at late rates. We quote: Prime milling, 3s 2d to 3s 4d; medium, 3s Id to 3s 2d ; whole low] wheat, 2s lid to 3s ; broken and damaged. 2s 8d to 2s 10<1 jier hostel (sacks extra). Potatoes. —Constgnments coining to hand are light, and teardJy equal to the demand, ami prices for both prime Dcrwente and white soils show an advance on last week' 1 rates. We quote; Best Dcrwent.s, £ll 10? to £l2 ; medium ditto, £lO IQs to £ll ; best white sorts, £ll to £ll 10a ; medium ditto, £9 10s to £lO 10s; small seed potatoes, £6 to £8 per ton (bags in). Chatf. —Tho market Is still bare of supplies. Pmno oaten sheaf is inquired for. and sold- to-day up to £4 per ton. Medium quality does not meet with such a good inquiry, hat is saleable at quotations. For prime oaten sbcai, £3 12s 6d to £3 17s 6d ; extra, to £4; medium ditto, £5 5s to £3 IQs pier ton (bags extra). Straw. —A good demand disks, and both wlieaten ar.d oaten have advanced in value. Wo quote the former at 35s to 40s, and the latter 40s to 45.s par ton, pressed (ex truck). DALGETY AND CO. Press Association—By Telegraph—Copyright. LONDON, October 29. (Received October 30, at 9.35 a.m.) The annual report of Messrs Dalgety and Co. shows that the net profits were £85,892. A dividend of 6 per cent. was declared, £25,000 added to the reserve, and £56,400 carried forward.