COMMERCIAL.

Press, Volume LII, Issue 15536, 11 March 1916, Page 7

COMMERCIAL.

BAKE. OF ENGLAND RETURN'S.

(By C&tle.—Frees Association.— Cop7ri? ht -) LONDON. March 9. I The Bant of England returns issued on Wednesday, March Bth, afford the following comparison:— March 1. March S. . £ £ Coin >.. ... 55,233.000 55,036,000 Eeaerv* .. .. 41,424,000 Proportion of rescTTO to „ ■ liabilities .. .. 27.02 27.'6 Circulation .. ..- 33,306,000 : 33,104,000 Publio deposit, .. 50,G31,000 52,175.000 Otter deposits • .. 102,016,000 97,036,000 Government securities 32,839,000 32,839,000 Other eecurities '.. 96,743,000 93,180.000 Short Joans, i\- per cent.; three months' bills 5 1-16 per cent. GOVERNMENT SECURITIES. Th© following arc tho latest quotations for Government securities, with a comparison with those ruling last week: —

WOOL. At the London sales, crossbrcds met with better competition, and P r i? cs hardened. Merinos was irregular. In© Taumumu clip averaged 18£ d, the top price being 19} d. On the Bradford market there is a better enquirv, but the turnover is small. Quotations:—6 rs 13-id, Ws 42£ d, common 60's 41-Jd, 56's 38d, oO s 32d, 46's 29d, 40"s 27d.

CEREALS. Wheat —The market is quiet and unchanged. Flour—The market is dull and unchanged. -" _, . Oats—The market is weak. BahiaBlanca February-March, 31s 6d. Peas and Beans—The market is quiet and unchanged. J DAIRY PRODUCE.

Butter —The- market is very firm. Danish 178s to 182s, Australian choicest 156s to 160s, secondary 1545, unsalted 158s to 160s, New Zealand choicest 160s to 1645, secondarv 154s to 158s, unsalted 162s to 1665. Argentine salted 150s to 1525, unsaltecl 158s. Cheese—The market is strong. Canadian 100s to 102s, New Zealand 98s to 100s. SUGAR. The market is steady and unchanged. METALS. Copper—Spot £97 2 S 6d, forward (nominally) £96. Tin—Spot £188, forward £187 los. Pig-iron—B4s. ' Lead—£32 ITs 6d to £33 2s 6d. Spelter—9ss to 82s. MELBOURNE MARKETS. (By Cable.—Press Association.—Copyright) MELBOURNE, March 10. Bran —4s IPd per bushel. Pollard — ss. Barley—English, 4s to 4s 3d; Cape, 4s to 4s 3d. Oats —Algerians, 2s 2id to 2s 3}d; feed. 2s to 2s 2d .per bushel. Potatoes £9 10s to £10 per ton. Onions—£4 to £-i 3s per ton. Dalgety and Co., Ltd., have received the following cable-cram from their London office., dated March Bth, 1916: "Tallow--The market is firm but quiet. At the weekly auction prices were unchanged." GRAIN AND PRODUCE MARKETS. <BY OTJK COMMERCIAL EDITOB.) Friday Evening.

The -wheat market was a shade firmer during the week, but has now cased back again. Milling wheat was bought up to 4s 4d, but most of the business has sinco been done at 4e 3d. at country stations. For a line of primo Pearl, probably 4s 3d could be.obtained, as this variety is scarce, though not in as much demand v as usual lor mixing purposes as the Hunters, and -Tuscan wheat is generally hard and dry this season. There have been some-re-jections on account of wheat threshed from the stook having sweated in the bags, but this trouble is said ■ to be more frequent in the Ashburton and South Canterbury districts than in North Canterbury. It has arisen chiefly th/.ough threshing from the stook in showery weather. There is # fairly largo quantity of wheat offering. The latest threshing returns reported by the Prime Minister show that the yield of wheat in Canterbury on the area threshed does not equal the preliminary estimate of the Government statistician, whose figures were based on the area eown, and did not allow for the large area fed off. The oats market is quiet, and very little business is doing, prices being ■without change. Oatshcaf chaff is dull of sale.

For potatoes, £5 is being paid for delivery this month, and £4 15s to £3 for April-May, but for this forward delivery there has been very little business done, and most buyers decline co make offers. . ' ~

A few Woes of Partridge peas have been bought at ss. at country stations. Tho following are the prices paid to farmers at country stations, tree of commission, sacks extra, except where otherwise, stated: — Wheat—Milling, 4s 3d to 4s 4d. Oats. —2s 8d to 2s lOd for Gartons, and 3s to 3s 3d for Buns. Barley.—Malting. 4s to 5s 6d. Flour.—£i3 f.0.b., 1001b bags £13 10s, 501b bags £13 15e, 251b bags £14. Bran.—£4 jjcr ton for shipping. Pollard. — £< pet ton for shipping. Oatmeal.—£2o per ton. Oatsheaf Chaff.—£4 10s to £3. Ryegrass.—4s to 55..-» Cocksfoot. —121b seed od, 131b seed 9Jd. and 141b eeed lOd. Onions.—£2 ss. Potatoes. —£o for March delivery. Peas. —Partridge ss. DAIRY PRODUCE. There are no changes to note in dair> produce. Wholesale prices are:— •.'■ , Butter.— Factory Is sd. fanners' separator Is 2d dairy Is Id. Cheese. —Factory (last season's) lOd, dairy 9d loaf 9d", (new season's) factory 8d 3 'dairy 7id to Bd.. Bacoon.—Sides lid, rollsls, hams Is. Honey-—Extracted 4Jd per. lb. Eggs.—ls Id .per dozen.

FRUIT ANT> VEGETABLES. The market has been -well supplied •with local vegetables and tomaioe*. Peaches and plums' are now scarcer, and there ar e no immediate shipments of imported fruits coming to hand. Wholesale prices are:— . • Apples, dessert 1W; to-:2Jd, cooking Id to lid; peaches 2d to 2Jd. pears Id to lid plums 2d to 2*d. nectarines 3d to 4d grapes 6d to Jd, tomatoes-Id to mushrooms 4d to 6d per lb; bananas 12s to Us pineapples Ws to 12s, lemor* 16s to 18s per case Potatoes os to 6s per cwt. .caboagc* Is to 2s, cauliflowers 2s to 3s, carrots

6d,- turnips 4d ; - parsnips 6d to • 'd, rhubarb Is 6d to 2s (3d per dozen, onions 4s to 5s per cwt.

GENERAL MERCHANDISE. Mediterranean Fruits.—Early iu the week all quotations were withdrawn, except lor currants, but later on q uo " tations -were cabled, quoting date*, bulk (5d advance on previous pri ce >..' cartons were reduced by 2i>. £>i(jily almonds are unchanged, but Jordan aimonds are os higher. Spanish fljp> have also advanced Is per cwt, Greek tigs having been withdrawn. Cretan raisins, which are similar in quality to Elemes. have advanced 2s per cwt. CalLroriiiau Dried Fruits. —Quotations for old crop remain unchanged. During the week hew crop prunes have been quoted, but prices are about o» higher than last year's quotations. The increase in freight accounts for a good percentage of the extra cost. Prices lor new season's Californian figs have also been announced, but are 5s to 10s per cwt.higher than opening prices iast season.

Miid'ura fruits. —Prices for New Zealand have l.ot yet been named, but are expected shortly. Hav.-aiian Pineapple.—Further shipments of this tabic delicacy have lauded recently ex Kauri. isincc the inti eduction* of this class of pineapple to this market the demand has greatly increased. Next year it i s expected that a. record business will be done in these pineapples. Quotations for new crop will be "announced shortly, and it is advisable for intending purchasers to place their orders early. • Bulk Teas. —Report's dated two months ago announced a general decline i;i price, but recent advices announce a hardening of the market by practically 2d per lb. Sago .-.nd Tapioca.—lndent prices quoted to-day arc the highest they have been for many years past. I'ice.—The present price remains unchanged, but early increases are expected in view of tne high price of sago and tapioca. - Starch. —Local manufacturers announce an increase of £2 per ton. Matches.—Both flats and plaids continue exceedingly scarce. Owing to the increasing difficulty in seciiring the necessary articles for the manufacture of the matches, it is quite possible that before long local factories will have to either close clown meanwhile, or considerably reduce their output. Owing to the increased cost of the raw material, prices will continue to rise. Derby Plugs and Tins.—Local supplies are very scarce at present, and shipments expected to arrive at the end of this month or early in April are eagerly awaited. Lead.—Since fast report, white lead has advanced 30s per ton. and red lead £'L per ton. Linseed Oil. —.Although an advance was expected this week, a cablegram just received states that the market is unchanged.

liar Iron.—Prices have -again advanced 10s per' ton oni account of increase in freight. Comparing present prices with those of this tini G last year, it is found that to-day's quotations have advanced nearly' 10"o per cent. - Crucibles and Plumbago.—One of the principal English, firms, the Morgan Crucible Co., advise that their works along with other manufacturers have been commandeered by the British Government, and it is exceedingly difficult for them to execute New Zealand orders; in fact, it is quite impossible for them to ship a certain class of crucible. As .regards plumbago, available supplies for export have dropped to such a minimum that it is difficult to fill export orders.

DALETHORPE CLEARING. SALE. The National Mortgage and Agency Company of New Zealand, Ltd., held a complete clearins sale of the whole of the sheep, horses, cattle, implements and sundries, on Thursday, at the Dalethdrne Homestead, Mr D. G. Smith having disposed of this property. There was a large attendance of buyers from the surrounding district, and competition from the commencement of the sale -was very keen; and was. well maintained right throughout. The following were the prices - realised: —

963 two-tooth half'ored ewes, 2-13 sld to 24e 9d; 896 Six-footh lialfbred owes, 23s 9d; 1030 four-tooth lialfbred cysts, 25s 7d; 657 eighttooth huifbrod ewca, .21s 9d to 225.3d; 323 wether lambs, 15s'9d; ' 4-15 three quarterbred owe lambs, 163; 230.mixed ecx tSomncy cross lambs, 18s; 335. ewe lambs, 16s; ?50 half and throe-quartcrbred wethers, 163 <jd; 10'J fp'urtootli lialfbred wethers, 21s 9d: 222 three quarterbrcd two-tooth ewes, 23a "d; 20'.' fullmouthed eweß, 16s 9d; 62 two-tenth i;>lfbred ewes, 17s; four and six-toorh ewfs, 19s 3d; 220 mixed-sex lambs, 12e Td; 110 fourtooth halfbred wethers 21s 9d; .130 mixed woolly sheep, 26s 3d. Eight draught mares and geldings realised £17 to £31; 3 mare, broken to saddle and harness, £15; 1 filly, 2yrs off, £26 10s; 3 cows, £9 ;0s to £11; double-furrow ploughs, £10 to £16: swamp plough, £19; Cambridge roller, £19; cultivator, £18 15s; disc plough, £13 10s; d-11, £39 10s; chaff cutter, £3 16s; wool-press, £8; gig, £18 10s; larni dray, £IS.

LEESTOX STOCK SALE.

Entries for yesterday's fortnightly stock sale at Leeston comprised SoiJ sheep (670 ewes, 21) wethers, and 154 lambs), 248 store pigs, Ul fat pigs, and 55 head of cattle, lucre "was a tair attendance. The demand for tat stock was again very, keen, and prices ruling at recent sales were well maintained. The store, sheep sale was followed with close" attention by farmers, many of whom seemed inclined to buy, but were holding back owing to the doubt that exists concerning the ability of the freezing works to deal with fats, and to tho possibility that shipping space may bo rather limited'later on. Prices for store shoe') were about on a par with those ruling at the previous salo. Store cwttle showed very little change, but both fat a.nd store pigs were easier, the former by several shillings a head. Competition between the buyors of fats v. as not so keen. Store pigs were in ever supply, and this was largely responsible for the decline in values. * TheWango of prices was as follows:— Eat lambs 15> <3d to 225, fat wethers U)b 'M to 24s best owes 16s to 16s 6d, store ewes from 10s 2d. aged store ewes ."* Id to 6s 4d, store lambs 10s 3d to lis 10d\ hacon pigs 64s 6d to 955, pcrkers. from 4ls, choppers 77s 6d to 107s Cd. large stores from 20s, medium from lis small from ss, fat cows to £9, forward stores £0 7s 6d to £6 12s od, dry cows £2 15 s to £4 6s, springers to £0 10s, six to nine-months-old sorts 25 i to 375.'

RANGIORA PRODUCE MARKET. Very little business was done in grain at Rangiora during the week, the offerings being comparatively small. Quotations are: —Wheat (nominally), 4s 2d to 4s 3d; Gar ton oats, 2s 6d to 2s 7d; Duns, 3s; white clover, Is 6d lb; cowgrass, 7d to 74d; Perennial ryegrassseed, 4s 9d to os 3d a bushel'; oatsheaf chaff £4 to £4 os; potatoes, £5 a ton; linseed, £18. EXPORT OF WOOL. It was stated in a telegram from Wellington on Thursday that a "Gazette" notice had been issued prohibiting the export of wool without the consent of the Minister of Customs. On enquiry being made yesterday the Collector of Customs informed our representative that he had received advice from Wellington that shipments may be made to the United Kingdom without restriction, but permits- are necessary for other destinations.- This is the same as the conditions lately ruling under which wool was exported! and these conditions have now been made the subject of an Order-in-Council. TIMARU MARKETS. (SFECIAL TO "THE PRESS.") TOLA.RU, March 10. The values recorded in the report on the grain market in Timaru on Saturday last were not obtainable that day, buyers having taken fright at the reported drop in values in North Canterbury. Since last reporting, ever, a few sales have been made at 4s

to 4s 3d, delivered Timaru, for Tuscan, while the prices offering for Velvet and R«d Chaff-were so far below late rates that practically no business tvas done last Saturday in these varieties. In 'the early part of the week, however, values recovered somewhat, and the market yesterday stood at *ls 4Jd for Tuscan, 4s 7d for Hunters, and 4s 10d for Velvet, delivered at Timaru. Velvet is scarce, and a straight line would probably command 4 S Hd to 5s delivered. Comparatively little "wheat was offered during the week, but it is anticipated that "a fair quantity will be forthcoming to-day. Oats—lmports from Southland, which, is now the dominating centre of the oat market, indicate that three-parts of the crop is now in stook or in stack, and that the quality is practically assured. One broker advises that a 50bushel average is expected, and that the great bulk of the crop will be of A crude. Nominally, values to-day are 2s Od for A grade* Gartons. and 2s 9d for I>uns, at country stations. A further fall in the near future is predicted. There is no outlet for oats, except that provided by the Government's demand for horse-feed. Very little oatsheaf chaff is' offering, and it is slow of sale. It is quoted today at £4 on trucks at country stations.

There is a fairly demand for oat and -wheat straw chaff, which is being sent to Oamaru in good-sized parcek on free railage. Good malting barley is quoted nominallv at 05 delivered.

Potatoes are now beginning to be offered, and to compete with the tail-end of the earlv crops in the North Island. Tlios» coming on to market just now are being sold at £4 los to £5 per ton, on trucks, bags in.

DUNEDLX MARKET. (SI'ECIAL TO "THE PRESS.").DUNEBIiV, March 10. The wheat market in Dunedin this vreek is decicedJjr v.eak, and prices unsteady. The "price of bran has been reduced from £4 15s to £4 per ton. Pollard, too, is shifty. The arrival of 20 tons of pollard from Australia. has caused a iittle flutter, and prices may dvop.

CHKISTCHURCH STOCK EXCHANGE.

YESTERDAY'S BUSINESS ON OTHER -\ EXCHANGES. (rRBSS ASSOCIATION TELEGRAMS.) AUCKLAND. Sales of Waihi shares have been made at 34s 9d.

WELLINGTON. Quotations: —Murray Creek, buyers 455; Ross, buyers 2d; Talisman, buyers 14, lOd; Waihi Grand Junction, buyens 19s 3d.

Price Price last week, to-day. 24 per cent. Inn>. Con. 57 7 6 67 2 6 3J per cent. War loan 87 15 0 87 5 0 4j per cent. "War loan 07 0 0 06 15 0 >'.S.W. 4'b, 1033, Jan.Jly. .. .. Si 5 0 S3 13 0 N.S.W.SJ's, 1930-50, Mrh.Sept. .. .. 70 15 0 69 1" 6 X.S.W. 3-i's 1020-30 .. 05 5 0 93 0 0 X.S.W. 3's, 1925, Apl.Oct. .. .. 70 2 6 63 17 6 Vic. i's, • 1920, Jan.-Jly. 94 0 0 93 17 6 Vic. 3\'i, 1<j21-26, Jan".Jly. .. .. SI 10 0 (53 2 6 Vic. 3J's, 1920-40 .. 70 2 6 69 15 0 Vic. 3's, 1929-40, Jan.-Jly. 62 0 0 61 10 0 Qland. 4's, 1915.-25, Jan.Jly. .. .. S9 5 0 63 12 6 Qland. 3i's, 1922-17, Jan..Tly. .. .. £6 0 0 SS 0 0 Qland. 3's. 1922-47, Jan.Jlv. .. .. 62 15 0 62 10 0 K.Z. -I's, 1920. Hav>'ov. " . 87 12 6 87 0 0 M.Z. 3j's, 19-10, Jan.-Jlv. 72 15 0 72 10 0 .N.Z. 3'a, 1920, Apl.-Oct. 62 15 0 G2 17 6 S.A. 3J's, 1016, Jan.-Jlv. 73 0 0 72 17 G S.A. 3's, 1016, Jau.-Jly. 53 2 6 57 17 6 Tas. 3Vs, 1920-40, Jan.Jlv; .. .. 72 2 6 71 0 0 Tas. 3's, 1920-10, Jan.Jlv. .. .. 65 0 0 65 0 0 W.A "cVs, 1915-35, MayNov. .. .. 76 13 0 76 0 0 W.A. 3's, 1915-35, JiayXov. .. ... 70 5 0 68 15 0

. LATEST QUOTATIONS. BANKS— *». * •. d. National .. — -. 5 10 New South Wales „. .. 39 5 0 Australasia 114 0 0 New Zealand (£3 6s 8d paid) ~ 10 Id 0 New Zealand (fully paid) .. 16 10 0 Union of Australia, Ltd. .. 5-15 0 Commercial of Australia (pre!) 5 17 0 Commercial of Australasia, Ltd. 0 14 6 BKEWERIES— Crown _ „ 1 18 0 Manning «» — ~ < 15 0 Ward .. rm ' i— ... 5 16 0 CEMENTS— Golden Bay -.. i. 10 0 Milbum Lima ■— ». 1 13 0 N.Z. Portland ... ... 0 10 0 ix.Z. Portland (preference*) — 10 0 COAL— Taupiri »-. 0 12 9 Westport .. ~ -• 19 0 Stockton .. ~ - 0 5 1 Stockton (8 per cent, pref.) .. +0 10 0 FINANCIAL- ' Christchurch Building- Society 11 10 0 Dalgoty .. .. .. 6 2 6 Da'geiy (non-cum. pr«f.) .. 10 ft • Mutual Benefit (Canterbury) .. 11 5 9 National Mortgage (ex div.) .. 3 15 0 N.&. ' Loan and Mercantile ordinary .. .. ■ _.. 80 0 0 N.Z. Loan and Mercantile (pief.) 79 0 0 N.Z. and River Plate Land Mortgage .. .. .200 Permanent Investment Cant. .. 9 0 0 GAS— . Aehburton (« 10b p«M) .. 5 0 0 Auckland *.. .- - 19 3 Chriatchuroh >—. m- 7 5 0 Gisborne M i—t « 1 1J S Hokitik* — - - « 0 0 Napier .,, .. », 16 0 0 New Plymouth. i.i .. f - o 0 0 Timaru ,..• i..r ■..; 8 0 0 "Wellington .. ■ .. .., 15 5 0 "Wellington (5 per cent. cum. pref.) 0 19 0 INSURANCE— Farmers' Co-operalive (£S paid) 5 15 0 Farmers' Co-operative (£210s pd.) 2' 17 6 National .. ... ., 2~K> 0 New Zealand -« — ... 6 3 0 South British .. :., ..500 Standard (ex div.) „.i .►« 1 15 6 MEATS— Canterbury .. .. .. 8 0 0 Canterbury (6 per cent. cum. pref.), (cum div.) .. .. ... 5 10 Christchurch (£10 paid) .. 17 0 0 Christchurch (£5 paid) .. 8 5 0 Christchurch (£3 paid) .. 4 17 6 Chriatchurch (£2 paid) .. 3 " 0 Gear (£i paid) .. .. 16 5 0 ' Gear (£1 paid) v " .. .. 4 5 0 ' Wellington (£5 paid) .. .. 6 0 0 "Wellington. (£4 paid) .. ,-. 5 0 0 Wellington (£2 12s 6d paid) .. 2 16 6 MTSCELLANEOUSAshburton Electric Light .. 10 0 Auckland Electric Trams .. 110 Auckland Trams (6 per cent,, pref.) .. .. .. 0 18 3 Booth, Macdonald .. .. 10 0 Booth, Macdonald (6 per cent. cum. pref.) .. .. \ .. 10 0 Cooper and; Duncan (20a paid) 0 15 0 Cant. Farmers' Co-op., Timaru 2 16 0 Cant. Farmers' (pref. re div. only) . ..... .«, E 0 0 Dil.C. (10s paid) .. .. 0 10 0 D.I.C. (5s paid) .. ' .. 0 5 0 D.I.C. (6 per cent.- pref.) ..• 10 0 Donaghjf's Rope .. .. 13 6 Glerimore Brick .. .. 0 15 8 Kauri Timber (fully paid) -.. 1 17 0 Kauri Timber (15s paid) .. 0 14 6 Leyland, 0'13rh;n Timber .. 12 3 Mason, Struthere (£1 paio*3 .. 1 i, 6 Mason, Stnithers (14s paid) t . 0 14 6 N.Z. Coneolidatcd Dental .. 110 ' N.Z. Drug .... .-v •• 2 4 9 N.Z. Farmers' Co-op. .. • .. 2 6 0 N./-. Farmers' Co-op. (1st pref.) 5 3 6 N.Z. Farmers' Co-op. ("A" shares preference re div; only) *. 6 0 0 N.Z. Paper Mills .. .. 0 16 9 Perpetual Trustees .. .. 12 0 Sharland and Co. .. .-. 14 6 Sharland and Co. (pref.) - 14 6 Simpson and "Williams .. 10 0 Simpson ..and Williams (10s paid) 0 10 0 Trastt«3 Executors and Agency 2 16 • Warre, Hockley .. .. 6 0 0 Weeks. Ltd. .. .* •• * 2 « > Whitcombo «nd Tombs .. 6 2 6 SHIPPING— New Zealand 20 0 0 New Zealand (6 per cent, pref.) 10 10 0 . Union Steam •• •• * T ? Union Steam (5| per cent, pref.) 110 Huddart-Parker .. •• 1 1 0 Huddart-PaTker (6 pet cent, pref.) 110 Northern Steam v » 0 14 0 Northern Steam (7« P"a) -- 0 6 6 WOOLLENKaiapoi .. •• •• • » 0 Kaiapoi (pref. re diT. only). .. .550 Mosgiel .• •• - J I 7 J Oamaru •• . •• "15 5 Oamaru (preferenbs) .. •• 16 3 Wellington .. •■ .. « 5 0 "Wellington (6 per cent. cum. preL) 3 7 6 MINING— Waihi ™ • 1 15 0 Junction .. ~ .- 0 19 6 Talisman .. ~ .. 0 15 0 • Hercules 0 11 6 Mount Lvell y •• .. 19 0 ■lEx div. •Cum. Dividend.