COMMERCIAL.

New Zealand Herald, Volume LXII, Issue 19158, 26 October 1925, Page 7

COMMERCIAL.

THE LONDON MARKETS. FROZEN MEAT. Australian and N.Z. Cable Association, (Reed. 5.5 p.m.) LONDON. Oct. 24. Sheep.—Canterbury, light medium B|d, heavy 8d; North Island, all 8d; New Zealand, ewes, 6£d; Argentine, light 74d, medium 7d, heavy owes 6,\d; Patagonian, light 7d, medium 6?d. Lambs.—Canterbury, light Is, medium lOgd, heavy seconds ll£d; other selecteds, light llg-d, medium North Island, firsts lid, seconds llgd. Frozen Beef.—"New Zealand, fores 4|d, hinds Australian, fores 4gd, binds sjd. Chilled Beef. —Argentine, fores 4-Wl, hinds, 6d ; others unchanged. COTTON, RUBBER, HEMP, ETC. (Last week's prices in parentheses.) Cotton.—November delivery, 10.87 d (11.18 d) per lb. Rubber.—Para, 45d (40d) per lb.; plantation, 48£ d (48d); smoked, 48 : ld (48Jd). .lute.—October to November shipments, £59 10s (£54 15s) per ton. . Hemp.—October to November shipments, £39 (£39 10s) per ton. Copra.—September to October shipments, £2B 17s 6d (£29) per ton. Linseed 0i1.—£39 (£39 15s) per ton. Turpentine.—76s (775) per cwt. Antimony.—English, £75 to £BO (£75 to £80) per ton; foreign, £64 5s (£66 12s 6d). , CHICAGO WHEAT MARKET. Australian and N.Z. Cable Association. (Reed. 5.5 p.m.) CHICAGO. Oct. 24. Wheat. —December, new, 1 dollar 42Jr cents per bushel; old, 1 dollar 42 cents; May, new, 1 dollar 40J cents; old, 1 dollar 39g cents. AUCKLAND COMPANIES.. | TWO NEW REGISTRATIONS. I Two new private companies were regisI tered in Auckland on Saturday. Details ; are as follow : ! Mount Eden Motor-bus Company, Limited. Objects: To carry on the business of motor-bus proprietors in Auckland i City and suburbs. Capital: £IOOO in 1000 I shares of £1 each. Shareholders: G. G. Campbell, 550 shares; Brodie Smith, 200; W. Walker, 150; J. V. Mackv, 100. Reasons, Limited. Objects: To acquire the business of boot and shoe importers now carried on by llarry Reason in Auckland. Capital: £3500 in shares of £1 i each. Shareholders: Harry Reason, 2450 'shares; A. H. Smytheman, 1000; Martha j Reason and Elizabeth E. Smytheman, | Ponsonby Terrace, 25 shares each. KAWARAU CLAIM-HOLDERS. FORMATION OF A LEAGUE. [by telegraph.—press association.] DUNERIN. Sunday. Following a meeting of Kawarau claimholders held in Cromwell on Thursday evening, at which a Kawarau Mining Claims' League was formed, a meeting of Dunedin claimliolders was held last evening, when representatives of 17 claims held in Dunedin agreed to join the league. Messrs. J. A. Brown and Thomas Ritchie were appointed Dunedin members i of the provisional executive. They will ! co-operate with the Cromwell and North i Island delegates in making inquiries with ! the parent company with a view to carry- ! inrr out further negotiations in the claimi holders' interests. CONFECTIONERY TRADE. DEPRESSION IN MELBOURNE. Reduction of staffs by Melbourne confectionery firms directs attention to the depressed state of the industry, says the Argus. Some price-cutting has been dono to retain trade, as well as to attract customers, but such a pulicy is discouiby leading houses as likely to tend to the disorganisation of tho industry, and final loss. Conferences between retailers and wholesalers have not ended in | any agreement satisfactory to eithci sections of the trade being arrived at. Officials of the Victorian Confectionery I Manufacturers' Association contend that I every concession possible litis been nude to I retailers, and that to go further would inj volve the makers ot sweets in a direct loss i which it would not be fair to cast upon ! them. A suggestion has been made that, ! with' the object of improving matters, i the whole trade should be so organised as < to be in a position to enforce standard I prices. , „ . , , . 1 In one respect, leaders of the industry j are remodelling opinions. Not long ago i the remedy for trade depression was held to be action by tho Customs Department, i Now the view is advanced that higher '• duties "would be equivalent to sending an ! open * invitation to all foreign manufaci turers to come and establish factories in | Australia." . Accordinglv, the stand is adopted that ! action should be in the direction of obi tabling concessions in respect to sugar l on tho same lines as the canning industry I does, and that' the duties on nuts and I other raw materials should be reduced. ! Then it is considered it should be posI sible for the trade to fight imported goods i on their own ground. I j | GUARANTEE CORPORATION, LTD. i Tho annual meeting of the New Zealand ! Guarantee Corporation, Limited, was held in Wellington. Sir Joseph Ward presided. Tho directors reported a satisfactory year and that the whole of the capital of tho corporation, £500,000, had been 1 subscribed and allotted. There are now ' 1 1063 They recommended the . payment of additional dividends totalling ' | £10,591 9s 9d and the writing off of 25 per'cent, of preliminary and establish- : ment expenses and tho transfer of £.15,000 ! to reserve, leaving £3493 to be carried '! forward. Tho recommendations of the i directors were carried unanimously. The ! retiring directors, Sir Joseph Ward and ' Mr, Will Appleton were re-elected. KING COUNTRY SALES. f PIOPIO AND OTOROHANGA: , i Messrs. .Dalgoty and Company, Limited, (| report:—"At Piopio sale on Thursday, i I October 22, thero was a fn.ir yarding of ■ ! cattle, which met with a ready sale. Sheep | were penned in average numbers, Belling » ' under keen competition at late rates. , j Quotations: Good 4-year forward con- - I ditioned bullocks, £lO 2s to £lO 38s; med- . ium sorts, £9 5s to .610; sood 3-year i I steers. £B 5s to £9 3s; medium Quality. £7 ■ | 5s to £8; 2-year steers, £5 17a to £6 ss; ; 1 yearling Hereford and .P.A. steers, £5 10s; yearling S.H. steers, medium sorts, £4 17s (ill; cows with calves at foot, £4 12s 6d. £5, £5 10s, £5 15s, to .£G ss; forward empty cows, £4 ss, £4 10s, to £5; others, £'2 18s, £3 ss, to £3 12s; yearling S.H. heifers, £2 1.25; inferior ewes with lambs at. foot. 375; w.f. hoggets, m.s., 335; b.f. hoggets, m.s., 29s 9d. "At Otorohanga aalo on t riday, October 23, store cattle came forward in large numbers. selling readily at late rates. Dairy stock sold at full market values. Yearling jersey heifers were penned in good numbers, but prices for these were not good. Quotations: Fat bullocks, £l4 12s (id: fat cows, £6, £6 12s, £7, to £7 15s: good 3 and 4-year bullocks. £8 lis to £9; 3-year steers, £G 10s to £7 10s; 2-year S.H. steers, .£'s 10s, £5 35s to £0 2s Gdyearling P.A. steers, £5 14s; 2-year P.A. heifers, £5 12s; yearling P,A. heifers. £3 as; cows with calves at foot, £5 10s, £5. 12s, .to £5 17s; forward condition empty cows. £4 to £J ss; yearling Jersey heifers, £2 5;-<. t'2 10s, to £3; breeding sows, £:s 2s Od, £H o>. to £3 15s; ,'V>od stores, 335. 375, to £2; > slips. 22s 255, in 275; weaners, 15a Gd, 17s Gd. 20a' to 245."

PRODUCTION OF GOLD. REQUEST FOR A BONUS, AUSTRALIAN PRODUCERS' VIEWS. The Australian Gold Producers' committeo has issued a pamphlet setting out 12 reasons and principles in support of the suggestion that the Commonwealth should pay a bonus of £1 an ounce on gold produced in Australia. The committee states that the object of the proposed bonus is to bring about a revival of goldmining by securing for the "White Australian mining industry" its equitable share in the Commonwealth's public policy of protection and assistance. The industry has suffered a great decline through being called upon to pay "after war" costs of production, and yet receiving only a "pre-war" standard price for its product. It is known that there is a large quantity of virgin gold to be won to increase the wealth of Australia, says the report. Much of this gold exists in large deposits of ore which, in pre-war days, would be profitable, but is now classed as low grade. Most of these deposits, with the assistance of the bonus, would pay to work. Leases which had been abandoned before being thoroughly exploited would be retried, and many of these, it was contended, would become gold producers, and, in addition, the bonus would give an incentive to prospectors to explore new and neglected areas. The opinion is expressed that there was no possible fear of over-production of gold. The full value went into circulation, and the money distributed by the industry benefited the community generally. The bonus would be paid on results only, and so would not mean that tho Government was asked to subsidise any mining gamble. The bonus would induce private enterprise to take all the speculative risks in tho industry. In conclusion, the committee states that the whole future of the goldmining industry rests entirely on favourable consideration by the 'Commonwealth and Board of Trade representatives of the request for a bonus on gold for a given number of years. SYDNEY MAIZE MARKET. LIMITED LOCALLY-GROWN CROP. Attention was recently drawn in Sydney to the firmness of the maize market 1 and to the possibility of an early advance in prices. The Sydney Daily Telegraph of October 7 said: —"Comparatively little 1 locally-grown maize is now held on the wharves—an estimate yesterday was 2500 bags—and according to all reports a great deal more cannot be expected this side of the new crop. The latest increase in rates may be relied upon to test the truth of that assertion. As far as other sources of supply are concerned, it is stated that the Atherton maize pool, which shipped 60,000 bags to Sydney a few months ago, is about the only likely consignor of importance. BRITISH GOODS FIRST. A BELGIAN TENDER REJECTED. Although a Belgian tender was £I2OO less, the Bournemouth Corporation recently unanimously accepted an English tender for 600 tons of steel tramway rails. It was stated that five tenders had been received, three from English firms, and one each from Belgian and German firms. The Belgian tender was £2 a ton less than the lowest British tender. The amount of the German tender was not disclosed. EXHIBITION ON WHEELS. NEW BRITISH ENTERPRISE. [F OUR OWN CORRESPONDENT. ] LONDON, Sept. 3. Probaas an outcome of the "Buy British Goods" campaign, an enterprising firm has inaugurated a scheme for a travelling exhibition displaying nothing but British Empire goods. Four railway companies have participated and each has built an exhibition train of corridor carriages. These will be stocked with all manner of British commodities, arid will year in and year out run over the various systems, making stays of from one to six days in railway station sidings. Tho four railway companies over whose systems the trains will run are the Southern, the Great Western, London-Midland-Scottish, and London-North-Eastern Railway. Everything which should be found in local shops, from foodstuffs to frocks, in fact, everything for tho home, will bo shown in tho exhibition trains, and all articles will be demonstrated by experts. Prior to the arrival of the trains, the local authorities, all traders and the public generally, will be fully advised of the coming event by means'of newspaper advertisements, advance agents and announcements in cinemas of the district. From outlying districts visitors will be taken to the exhibition trains by special services of local excursions. In the main, the four exhibition trains will show and cause to be fully explained. foods, agricultural requisites, domestic labour-saving devices, fancy goods, hardware, pottery, electrical and gas appliances, wireless, garden tools, motor accessories, clothing and boots. Orders for goods received from the public will bo executed only through local traders, so as to establish" local agents. The cost to each exhibitor who has a 3ft. frontage, works out at £6 per week, with discount for increased space. A sirni]ar scheme was begun in Canada in 1912, and was continued until a year or two ago, apparently with considerable success.