COMMERCIAL.

Press, Volume LXIV, Issue 13289, 5 December 1908, Page 11

COMMERCIAL.

* United Press Association —By Electrio T«legTaph—Copyright.LONjl/ON, December 4. BANK OF ENOLAND RiJiTURN. The Bank of England return issued for the week ending Wednesday, December 2nd, affords the following comparison :— Thin week. I<ast week. Bullion .. .. 23.027,000 32,911.000 Reserve .. .. 24,086.000 20,001,000 Notes in circulation 28,963,000 26,535,000 Public deposits .. 8,0 u 0,000 9,270,000 Cther dopoeite .. 4L563 000 42,793.000 Government Becnrities 14,731,00G 14 731,000 Other securities .. 28,493,000 27,693,000 Proportion of reserve to liabilities • .. 48.30 43.32 THE MONEY MARKET. The bank rate is 2J per cent. The rate for three months bills in London is 2i per cent, Paris 25 per cent, Berlin 2* per cent. Short loans, 1J per GOVERNMENT SECURITIES. The following are the latest quotations for Government securities, with a comparison of those ruling last week, the date on which interest is payable being stated in each case:— Price «g,* ' 111 £ '. a, 2* per cent. ImperUl Console .. 1-3 15 oJs3d f. N.s W 4'e, 19jft, Jan-July .. 106 0 0 60* I*U N.S.W. 51 , *, 1918, Marcli-dept. .. 1)9 0 0 Uncii. N.*.VV. a--, 193-, Aprll-Oot. .. H7 0 OUi.cli. Vict 4> lU2O, Jan.-Julf .. 102 0 0 Vμ (all Vict. 34V, Ifli.-e. J«n.-July .. S8 10 0 iO» fall. Vict. 3'», 1921-49, J»n.-July .. 87 10 0 2.5 Wl B.A. Ui'm, 19JD, J»n.-Ju]y .. 100 0 0 Unch. S.A.a , ", 191-t, J»a.-Jalj .. Hi 0 0 15s (all Q'land 4'«, 191S-3i, Jan.-Joly ..105 0 04 » f>ll Q'lu.d 31., IMI-31, J»n.-Jul/ .. 93 0 0 30s fall Cfland a'>. 19-33 47, Jan.-Jnly .. Bill 0 4.8 f«U N.is. 4'«, 103 a, Jl«t-No». .. 107 0 0 TJnch. N.Z.3V», iajJ-10, J« i.-July .. S*3 10 0 30* fa.il N.Z. 3'«, 1915, April-Ooi. .. 87 1C 0 Ur.cli. T»~ HA , ., 1940, Jun.-Jalf ■■ 07 10 03 a fall T»«. 3-, lan-J.ilr .. t6l- 0 JJ,I»U W.A. ai - «, %-Sor, .. 97 10 0 Urch. W.A. S'a, M»y-NoT. . ■ 87 0 OJ2» 6d r. COLONIAL AND OTHER PRODUCE. The wheat marKefcs are quiet, with a slight hardening tendency, on less favourable weather reports from the. Argentine. Holders of cargoes are very firm. For sailing ships afloat 38s to 39s is asked, December-January shipment 37e 6d, January-February 37s to 37s 3d. Australian, on spot, 40s 6d to 41s 6d. Flour is quiet. Australian is selling in London at 2Gs 6d to 27s 6d. There is good business in Glasgow, January-March shipment 27s 6d to 27s 9d. Butter ie very flat. Danish 114s to 116. Colonial is neglected. Choicest Australian 104s to 106s. occasionally 108e. New Zealand 108s to 110s. I Cheese: New Zealand is dull at 57e to 58». Sugar: German 10s Sd, first marks lie 2d. THE METALS. Copper, on spot £63 6s 3d, three I months £63 17s 6d. Tin, on soot I £134 2s 6d. three months £135 17s 6d. Lead. £13 6s 3d. Silver, 22Jd. Iron, 48s 7d. Spelter, £21 10s.

N.Z. L. AND M.A. CO.

The New Zealand Loan and Mercantile Agency Co., Ltd., have reoiivid cable adrioe from tbeir London office that their .annual meeting was held on T>ecember 3rd,'ajid passed off satisfactorily. The report and balance-sheet and the recommendation of the directors that a dividend of 5 per cent, per annum be paid, ■were adopted. The reserve fund now stands at £400,000. TJalgety and Co. are in receipt of-the following cable from their London office,

dated 3rd December, 1908 —The frozen mutton market is weak, and prices are lower by id per lb, with tho exception of Gisborne. The frozen lamb market is also weak, any change in price of light prime New Zealand crossbred lamb being in favour of buyers, whilst prices of heavy and inferior qualities are Id to id lower since our last telegram. "J*he frozen beef market >s dull, but prices are unchanged.

WOOL SALES.

LONI>ON, December 3 For wool there is strong competition. Buyers are firm except in shabby coarse crossbreds, which are in buyers' favour. December 4. The Bradford wool market is very quiet, tho turnover being extremely limited. Prices are nominally unchanged. At tho London sales the following New Zealand clips were sold : —Oreti, 9Jd; Gear, Bid. The New Zealand Loan end Mercantile Agency Company havo receivvxl tho following cablegram from their London office*: — "As compared with last sale's closing rates, prices are 7-J to 10 per cent, higher for fiiio crossbred and nwriuo; 15 per cent, higher for medium greasy crossbred and coarcjo.groasy crossbred," and 10 to 15 per higher for scoured merino lamb's super and faulty wool. America competing very keenly."

WELLINGTON.

( SPECIAL. TO "THE PRESS.") "WELLINGTON, December 4. The most conspicuous feature of the wool sales which opened at the Town Hall to-<]«y was tiie strong American competition for the finest lines of orossbreds. Tho quantities offered by brokers amounted' to 7603 bales, or GOO bales more than at tho carrc'spondintj sale- of last year. At the first sale, held on November 13th, 1386 bales oniy wpro offored, wjiich was the lowest <j Jantity for tho November sales of the last three years. Prices at last sale went up to 8d for crossbreds in one instance only, says the "Post/ , but orossbrede that ranged from 7d to 8d then, changed t hands at from 10d to Hid to-day. The prices were more or less on a par with thoso of two years ago. To-day buyers were present in full force, representing Brao- ,- ford, Ruddersfield, Gorman, French, Belgian, and American houses, also representatives from New Zealand mills. For wools suitable tor local requirements, competition was keen from the very start, Americans going for the top qualities, favouring crossbreds and especially those that were well prepared. While there might be side by side two clips of identically tfao same quality, yet that which was properly skirted and' well got up generally would fetch from lOtf to lid. while the others not so well classed would realise 7jd to 7Jd. The reason for tho difference was that in tSie case of Americans, 5d per lb could not be paid for dirt, tho duty having to be paid upon the weight of the wool. GRAIN AND PRODUCE MARKETS. (by otjk commercial editok.) Friday evening. There is some enquiry for wheat for fowl feed, and for this purpose a few lots of .milling wheat of second-class quality have been purchased equal to lid to 4a 2d at country stations. For milling wheat there ie little demand, and buyers axe not prepared to make advances upon late quotation*. Oats are dull of sale, and for export | £2 15a is offered for chaff, while, for local consumption up to £3 would be paid. The (stocks of potatoes are now practically exhausted:, and the market closed for the season. The undermentioned are the prices paid to farmers, at coujitry stations, free of commission, except where otherwise stated: — Wheat—is 2d to 4s 2Jd, at country stations. Oats—Nominal. Peas—Partridges 3e 6d to 3s '9d, Prussian Blues 5s 6d at .country stations. Flour—£lo 10s per ton. Bran—£4 16s local, £4 lOs f.0.b., per ton. Pollard—£6 per ton. Oatmeal —£12 per ton. Oateheaf Chaff—£2 16s to £3, at country stations. Dairy Produce—Cheese, factory CJd, dairy 6d. loaf cheese &2d ; butter, factory 12d, farmers' separator IOJd, dairy 9£d; bacon, sides BJd, rolls 9*d, j hams 9d; honey, extracted 4d per lb; wax, Is 2d per lb; lard (packets), Si; fresh eggs, lid per dozen.

ASHBURTON.

Tho following in the market report fo» tlie week : —Wheat —The demand for milling wheat still continues, millers buying up any lines on offer in order to replenish their stocks and so carry them over until the new grain is fit for use. Prices remain firm, the quantity on offer -eing too sinail to influence the market in any way. Farmers now seem determined to dispose of tEoir holdings, and very little grain will be heJd over. Vaiues arc— Tuscan and PeArl 4s 2d to 4s 3d, Hunters 4s Id, whole fowl wheat 3s lid to 4s. Oats —There is etill a fair demand for "A" grade oats for shipment to Lonaon, also for "B ' grade required for coastal shipment. On the other hand, lighter sorts of Duns and Danish are very difficult to dispose of, and only very low rates aro ruling. "A" grade Cartons Is 6id to Is 7Jd on trucks, "B" grade Is 5d to Is 6d» Danish and Is 3d to Is 4d. . Oatsheaf Chaff—The demand has fallen off considerably owing to the excessive quantity on offer, and 55s is now the highest price offered by merchants for prime quality on trucks.

TIMARTJ.

Our Timaru correspondent writes:— There 'has been a fair amount of business done in wheat during the week, §ood lines selling freely at up to 4s 4d, elivered Timaru. • The oats market, on the other hand, is sick, this cereal being now almost unsaleable. Possibly Is 6d per bushel might be obtained, for parcels of prime oats, on trucks, Timaru. The abundance of feed is said to bo responsible for the sudden falling off in the demand for oats. Old potatoes arc now enquired for very littlo, new ones being on the market, and it is scarcely possible to give a reliable quotation, as merchants are not buying.

RANGTORA HORSE FAIR,.

There was an entry of 130 horses in the Rangiora yards yesterday, but trade was languid. Prices were :—Unbroken two and three-year-old draughts £15 to £30, unbroken two-year-old hacks £7 to £15, bro&en-in £22 to £28, medium £12 to £18. hnrness horses to £21, hacks to £9.

SHIPME.NT OF DAIRY PRODUCE.

(rar.ss association telegram). WELLINGTON, December 4. The largest shipmon't of dairy produce from New Zealand this season was made by the Corinthic, which left Wellington for London yosterdav. The vessel took away 45.072 boxes of butter, valued at £119.4-10, and 18,156 crates of cheese, valued at i:o8 : 0a5. The -total value of the shipment was -*/,525. The dairy produce came from t<he following ports : —Auckland, 14.675 boxes of butter and . -o crates of cheese; New Plymouth, 12.205 boxes of butter and "2115 crates of cheese; Patea, 5191 boxes of outter and 6597 crates of cheese; Wellington, 10,437 boxes of butter and 3522 crates of cheese; Lyttelton, 1311 boxes of butter and 40- crates of cheese; Dunedin, 1253 boxes of butter and 1652 cratee of cheese; other ports, 3121 crates of cheese.

PORT OF Lf TTELTON. The following is the statement of Customs duties collected durina tho week £2392 2s 6d; cigars, cigarettes", and snutf, £493 8s 4d; tobacco, £849 12s 6d; wine, £104 13s 3d; beer, £73 12s; coffee, cocoa and chocolate, £7 10s; weight, £414 15s lid; ad valorem, £1442 7s 4d: other duties, £1190 3s 9d; total, £6974 5s 6d.

MIIIING.

DREDGING RETURNS. (PBESS ASSOCIATION TEIJEGRAM). DUNEDIN, December 4. Mystery Flat, 540z 3dwts; New Roxburgh Jubilee, 370z 13dwts; Koputai, 330z lldwts; Masterton, 3'2oz; Electric 11., 260z lOdwts; Central Charlton, 220z lOdwts: Kura, 8oz; South Waikaia, Boz 15dwts.

STOCK AND SHARE QUOTATIONS.

The following are the latest quotations as revised by Messrs R. Hill Fisher and Son, 179 Hereford street, Cnristchurch.

•Dividend per share por annum, b Suyera • Sellers, f £0 per cent., upon capital before readjustment. 1| 9Jd per share for half-year. Course of salon since Ist December: — Bank erf New Zealand, ICGs Cd; National Bank, 101s 6d; South British Insurance. 4C* 3d; Taupiri Coal, 17s 10d; Wcstporte. 137s 6d; Westpoit Stockton, 9a; Leyland 08., 235; Booth, Aiacdonalds, 245; N.Z. Papers, 22s 3d; Talisman, 435, Waihi, 175s Cd. (SPECIAL TO "THE PKESS.") AUCKLAND, December 4. Talirmans wore h<:ld at 435, buyers - offering 42a 9d. Waihis were slightly firmer, business beimg done ai £8 18s 6d, with further enquiry ot £3 15s. and •sellers at £8 19b. ■WELLINGTON, December 4. Sales on Change to-day were:—Wellington Gas (£5 Sβ paid). £,11 2s 6d; Kauri Timber (16s pnid). 15s Od; N.Z. Drugs, £2 8s 6d; N.Z. Portland Cement, £1 13s Cd; Waihis, £8 14s 6d. For Bank of New Zealand shares buyers offered £8 9s without obtaining any. N.Z. Shipping Compnny's shares we.ro in demand at £6 10s, and Talismans were wanted at £2 Iβ 9d. (PBESS ASSOCIATION TELEGRAM.) DUNEDIN. December 4. Stock Exchango sales:—Golden Bed 7e 6d, Now Zealand Drug Co. (£2 paid) £2 9s.

Australaela Nalimml i>1 N.Z. .. New Sou III Wales lew Zealand Union of Australia Insurances — Nutional.. New Zealand, Ltd. South British Lid. blaiirlanl, Ltd. .. Farmers' Co-op . ■ Gas— Aipklnhd A-liburton Clmstctiurch Kelldinlf .. Oisliornc Hokitika.. Napier .. New flyniouth .. Pa'.mer-lon N. 1'ort ( Imlincrs .. ■Jinmru .. We.iiiiKton ShippingNew ZeuUntl Union Steam Coal — Weutport .'. '"' °" IjOati and Apency— llaltscty anil Co. .. Natiuna Montage N.Z. Loan & Mer. N.Z. ttiver luto Kej-nmncntliiveot. tlutunl Men (It . Clt.< h. lluildlii'.liqiiitable Hi] Mini; Wμ Trust & Loan Wn. Iiivustnient Metro, l'erint., Wn. Meat— WellhiKton Canterlmry (JlirUtflinrch Gear, Wellington Miscellaneous— Mason, S and Co. Stock to 24 20 34 25 SO I 15 £0 50 i in 12 10 10 j 14 Market Price £ o. d. 106 0 0 5 2 6 47 I 6 8 8 0 61 10 0 2* 103 3 Unltd H Si 24, 15 10 I 30 10 I 7 3 12 0 2 .6 3 13 0 2 10 0 5 ? i 6 10 5 t 10 Si »ll nlf nil : nil ! nil nil .if nil I nil ! 6i J 17 7 10 nil i 133 35 10 8 I 1 6 10 : 10 I 10 14 5 0 6 0 0 9 15 0) 0 19 9 2 13 6 5 15 0 25 0 0 8 5 0 7 6 0 1 0 0s 9 0 0 16 5 0 11 5 0 8 1 I i 61 ls9Jd 6 10 0 1 15 0 3J nil 124 ~74 6 17 6 0 9 3s 0 17 •i 5 2 10* 1 10 10 10 5 8 io 4 15 8 nft nil nil nil 5 5 n<? 7 10 5 8 5 74 7i 10 8 6 7 6 7 69 3 0 0 0 4 0i 1 11 6 10 0 0> 11 5 0 11 12 6 10 0 0 7 6 0 0 11 6 11 12 6 5 74 10 1 nil nil 3 7 8 124 6 4 0 7 10 0 10 12 6 2 9 0 CradUocic, O.' &" o. J'rel. Booth, Mucdonald Uk-nmoie llrick colonmlSusar .. N.Z. rajicr Wn.-JImiawntu It. U.I.I.. Preferences Kaiapoi Woollen .. M<* K i«l „ WollniKton „ Ouniaiu „ Mil bum Lime N.Z. I'. Cement .. N .Z. Druy Sharland N.Z. Farmers Canterbury Furmrs Wliiluumi.e and T Simpson and Wins II. J. Weeks Manning mid Co. .. Ward and Co. „ Warre llockley .. Crown Brewery .. L«ylnii<ls, O'li. Co. Konaghy Uope WaihiOold WalhlOd. Junction Talism.'iis Mu LyelU Hercules 1 14s 20« 20a 1 14s 20 1 1 S f 1 1 2 1 2 24 5» 5 4 4 5 20s 1 1 1 1 IBs 'I, nil 6s nil nil 6s nil nil 4 nil nil i nil nil nil nil 3 24 24 1 1 nil nil nil nil nil nil z< nil 2s 8 8 8 3 10 10 10 7 7 6 7 S 6 8 10 7 9> 8 15 8 3 10 10 12 10 s* 17s 6d nil 6s 3d* 3s 6d 2s* 116 0 15 6 10 0 12 0 1 4 0< 0 IP 0b 42 15 0 12 6 2 13 0 1 1 Oβ 5 0 Oβ 2 15 0 3 2 6 14 6 1 10 0 18 6 2 9 0 0 19 3 2 2 6» 2 )3 6 4 5 0* 1 2 6b 5 0 0* 4 2 6s 5 0 0 6 0 Ota 19 0 13 0 12 0 8 16 0 1 10 0 2 3 0 1 19 0 0 10 6