FINANCE AND COMMERCE.

Dominion, Volume 1, Issue 110, 1 February 1908, Page 8

FINANCE AND COMMERCE.

' S TUG SHAKE MARKET. . " .-;Business;, was . again; ; dull--;:,yesterday, . and there: i-we'ro :no. -transactions . : in ' investment. . Btocks;' ;there'- was, 1 however,.- a slidit; increase in'the.'humber .of buying orders. -Bank shares "■* - were quiet, with sellers of Bank of r<ew Zeas;" land at .£9 155., anil -of. National Bank at .£5 -. ' 7g.; • Insurance .shai'es - were also , quiet, the, only ; :' ; stock; quoted being :New Zealand Insurance,- :-.. - which, were.'offei,ed for sale at £&: 2s.- ■ .!• uian- - . ,cial shares ; remained at..the..previous:..day.s ' quotations. ' 'Equitable Building' shares were f" . - : wanted' at- • £10 3s„ - and' Wellington ' Trust and loan at Gd.,'both; cum; div. There were . -V sellers of Loan and' Mercantile at -ss. 6d., Wel- : . ; liiigton , Deposit at 105.',, and Wellington iTrilst. and Loan at £1 12s. Gd Gas shaies'are; ex;- /;. "ceedinfflv quiet, . and .yesterday.- there; were. no • quotations, except a: selling, offer of' fully paid > 'Wellington Gas at JGI9 cum div; Meat-shares I;.' ■ were' .steady. ." Christchurch Meat share's were r' f'.i wanted' at £10 12s. 6d. cum' div., but sellers ■" were holding for' £10 -155." There .were-sellers of: Wellington; Meat' Export, shares at;:£6'l2si; ed.,"£s^■ : 2s;i'''and i3'ss.i9d.-'for; the : ' issUes.v : of.'other .'shares there, were vbyyers'of . Union' Steam- at '31s. :Gd.!• Westport ■ Coal, ~; £7; i6s.'; New "-Zealand- ; Dnigc, ■'; bu'yel f S- ! ;£2 ;lls. , 6d.,: ,sellers' f .dC2; "12s. ; : Eogotire Coi/ipany's shares,.Gs. paid-up,■ buyers U7s;,sGd.,-'se,llers:'clos./Gd.;. and; there;',wero 1 . also ; : sellers of ."Wellington Woollen ordinary .at '£3 :.:-105.,- t 'Loyland-G'Brien' Timber £2 55. ( - Gd., . and ' ' Limifed' 21s.' Gd.,'; •.\' - ii' ■; i."r,r.The, course of-'.sales; during .'the |-past'. month ' nndcf: T[« ' \ ' -iiii/rrtfA'' ; of NewjvZealand, £9 12s. 6d.f.-£9 12s.:Gd.' *. ■ .KatioharB r arikr,'£s ,65.; .'£s'Gs. 6d;,- £5-Gs. 1:' ■:' Neiv' Zealand Insurance, £4 -Is. ,3d;, : : £4 2s. ■ National Insurance, 275. 6d.,: 276.- - . - ' Wellington Gas (£lO paid-up), £19 ,2s. Gd. j ' • . Palmerston North! Gas,' £7 7s. Gd., £7 7s. Gd. .. . .Gear Meat (£4; paid-up), x £9. ; ..: j-. ' ■ - r Gear- Meat. (20s; ,'paid-;up), "503.^"■■i';)'-. :■ ' ; . . ; .'Wellington Meat .-Export (£4 paid-np), ,£5 2s. I Wellington' Mea- Export..'(£2 :12s. "6d.- : ..paidtip), £3 5s 3d .'Union Steam, 31s.'', .. , - i; ;1., -, : .' 'slanawatii"Eails, 435,;Gd., .'435.,'.43a. Gd., 435.' '•'Wellington 'prefcrence,:l4s; ' 'iWostport-Stoi&toii' Goa1;"-9si- 9d., '95."9 d., '10s., . -.JOs.' . , "v 1, New:Zealand.Drugs, £2 lis; ' Sharland's.-preference, 20s. ' v .. . ..-V;! . Sharland's ordinary, 18s., 3d. J:;;'-:-. 1 ;' \ ;.i , ■ .Donaghy : Rope, and, Twine, £G. ' - - . Ward, and Co. (browery), £5. — :

THE MINING MARKET .; .The' busiiie'ss/done in; mining, shares yestor-; ; day' cbrisisted of -sales;of Talismans at £2 ,125.! ' 6d.rand: Waihis at £8.95; Gd; ( The' latter show "a; great 'improvement, ;and;-;now-.that- the. big. ; drafts from; London, have been met, the shares ■; Ehould continue: to improve. The buying and selling.. quotations yesterday were as under ' X r u:> r'W- ': \ "Sellers. . Sales. • ' ■ . s. d. '; £'s.' d. '£ s.' d.' • • Mav Queen ... 0 19 0 = 110 - ■ -Talisman .- 212 3-; 212 G '. 2 12- 6 ■ •Waihi ... 8 9.0 .8 10 G '8 9 G • N.Z. Crowns...'^o : ;7" 0\; 6 : ;7 3 "■ — .The: course of 'sales:':in this market " the past: month:is appended:—1 ■ TaJisman,- 525. '3d.,- 525. ! , '5&;,' :525.', ;f s2s' 52s'' 3d., ;525.-Gd.j 525.; 525. 3d.; : 51s. 3d.,' 52s- '3d ,' 525. 3d., '52s;SGd., 525. Cd. - "■ : ; ; :Waihi; £8 ;55.,. -£8 '45;,:-£S- 65.: £8 Gs. Gd.. i£S 9s. Gd. ' - . ■ - : 25., .-Is., 7Jd., Is. -7id.' -■ \ ' Old Hauraki,;2s.,- 2s. 4d. -; Queen,< Ltd.-,' 2s.'■ Ngatiawa,- 2s. Id. . .. ' . .Pactolus, 305.; ,10s.. G(L : :'. ;' '\Broken Hill; South, Contributing -£2 155,';6d.; THE POSITION OF METALS. . During the-past six months the prices of-'tho ,'industrial metals havo .contracted very gieatlv, , - indeed./ The tap-root of the. depression is, -o'f - -course, to in the United States, where .. the financial . stringency; and the shock to' dedit.are such as,to tio up industrial enter--prise in-every, direction, and'the effect of'the ■ weakening of such a-, huge market is, of course, felt'throughout-:the; worid. 'There is no doubt : also that the -industrial - demand ' for these metals .has declined, and even tho comparatively low -prices . prevailing offer', for tho . moment no .sufficiently strong inducements to ... consumers to lay 111 heavy supplies on -.what. :is, generally.,;thought; to be; the eve of; : an in--dustnal reaction. In the following table wo , con trast the ...highest .points ■; touched last. year;: decline '10 a percentage ra'to : of

in -4->V ' (■ ' •• ' ' ' ' Si 8 ' ' r ' tcH , ' V • ' : W" '(? Decline. ' ' ~ . , '■ '• Amt. pr.ct. • Metal. ' £ £ £ ■ . Copper (standard , 11l G1 50 45 ' Tin (CtM) . . 212 1221 89} 42 3i .-. Lead (foreign) '• ... .... 22 - 145 7} 33.52 , Spelter.-. 5.......28J -.20} '• 7-}- 25.77 Silver, (standard); ... ... 325 ..■% GJ ~' 21.23 The largo shrinkages' here recorded are,- of ' course, partly, a' consequence of the undoubtedly., inflated prices prevailing ' early ; in the ■ period; but even bearing-this fact'in mind the.'declines liavo been-so violent as to suggest that, so far, there has been no proper ,-j adjustment-,of-the relations of supply and de-' mand,- but rather' the. necessarily, exaggerated consequences of tho sudden collapso of a .boom, combined with the. general : uncertainty- • tliat'..prevails ris.to tho industrial outlook). ... THE PRICE OP BUTTER ■ It would appear that our explanation of . yesterday has-not satisfied ono member of the r Butter. .'Committee . tliat we ' had no' intention ' .of "fating that inferior quality butter was: , V sold. hero, as 'first-class butter. The, Butter Committee may not sell quality as . first-olass quality—we liavo already accopted : --the assurance ot one. of its members to that effect . ' What must bo .known- to every householder, however, is this, that frequently bntter ' of inferior quality-is charged the.full market . prico 'in the. retail shops.! Whcro it conies from, or how much it has deteriorated, sinco . . passing info the hands of tho retailer, wo .cannot pretend, to know. WELLINGTON MARKET REPORT. , ■ The New Zealand Farmers' Co-operative Disftibuting Co., Ltd., report as follows Maize, 55.; wheat, fowl, ss. Gd.; oats, prime feed, 3s. . .:3d. to 3s. Gd. r oats, crushed. 3s. 9d.j horse beans,

crushed, !)d.;perT.bushel. . Pollard; >£7 10s.; bran;-£G per ton. "Sucrosine, 200*8,. 15s.j 100's, Bs.v,iv ■; ; Prime oaten sheaf:.chaff, £6;. hay, meadow, «£t- to'£s per ton;' Straw, whoiten, £2 15s. per t0n.;,.. . ; . :.... ...'., ~ . ;: - • -Potatoes;;-new,/.whites, £9;reds, '£7; onion's, .£9 per-ton.-.,;-. \ . . .'-Butter,, separalori'.OJd.; milled,r 3d.; dairy pafe.i&Jd. to ;9d.-;;eggs, fresh,,ls. Gd.-per dozen. Factory"/bacon, 'sides, BJd.; rolls';' ; 83d.; hamSj 9di'; Go's; p jtid: l ; beeswax, : 'Is. Gd.; fungus', sd;; walnuts,'sd. to Gd. per,'.lb/.- '■ / ■ . - ■ Porkers, 70.V;tp'90's, 41d.'; 00's to' 100's,. 4d.}. 'heavy- pigs,;. 'i!di-.t>cr>lb.-':Cabbag'e,''3s. : .'Gdl j.'.'green peas,. Bd.-per peck; •rhubarb,";3i!i-.;per:; : carrots, table, .reds, 10s.'.[jor sack.--' : . " Apricots/; 7s;''6d;T plums, 2s. .to'. 8s.;: peacließ, ss.'. to 6s. j: nectarines, 4s. Gd.'' to ',ss. .per . half 'case';'' greengages;" 1 4s;'; tomatoes, 2s. Gd. to 3s. per half- case; cooking. apples,' ss. per case; dessert"'apples,; Gs.''?per case. • " ' . ' Poultry; table roosters, 3s. Gd.'to 45.; cockerels, -3s. Gd.-to '4s.'Gd.; table hens,' 3s;; ducks, ss;v to ss.' od., all .at' per. pair; turkey, gobblers, ls:;- hens, - lOd; per l lb.', ;'live weight.- , ; SALES.'-" ' ' ." Co., Ltd., report :— Wb'.h'acT.'a'small,.yarding of sheep, and a fair entry, of cattle afc Wanganui, on January-2!), The of the market is causing settlers jvlip,;;can afford to do so to . refrain from • entering their stock at present. With the exceptioiupf good young; cattle, there is a, slack demand; for: all classes. QuotationsShorn rape lambs,"'7s.- 9d.; old cull- ewes, 2s. 7d.; forward cows,\E3'lis.; store cows, £2 4s. Gd. to-£2- 10s.; .store heifers, £2 3s. 6d.; mixed yearlings, 37s.TGdr;i: • 'Messrs'. Dalgetyyand -Co,,".Ltd., report on their Upper. Hutt - stock sale as follows:—A good entry of sheep and cattle came forward. The .wholo varding of sheep was sold, and all but a few pens' of, cattle. The .following were prices realised Fat lambs, lis. 2d.; fat ewes, lis. 2d. to 13?.'; woollv lambs. 7s.'- 2d. to 7s. od.; shorn lambs, 7s. Gd.; cull lambs, 45.; twotooth .wethers; lis. Gd. to 12s.'; 'cull ewes,,'7s. to Bs. 0i1.',-272 EtcCTff, £2 Us. Gd.; fat cows, £3 , : 14s;■'Gd.'-' to'£4 ;Is".; jbulls, lGs.'.to'. XS. 25., Gd.; 'cighteen-month'.'heifors,£l,' : > Ba.; : two-year heifers, £2-'Bs.;'store cows,.£l ;7s. to £2' 10s.; forvyard^ebws,' - Is:'; springing heifers, ,£3 10s.; unbroken-; half-draught gelding, - £24."; '.• At ' the - Palmierston \ North stock sale on Thursday ; (Messrs.; "Dalgety , and , Co. report) there .was'" a,' fair; 'entry of cattlo and a good entry of sheep. . Owing tbthe continued dryweather iaid. shortage of: feed and water .tho demand was -not—keen. Four-year bullocks, £6 Gs.; good shorn lambs, Bs.; good two-tooth 'wethers,. 125...'.; ' -- >At- the'-Peildirig sale, yesterday there was;'a good;:entry; ,of."sheep,'and cattle. Store; lambs realised-'--3s.^9d'.';''rape, lambs,: ss. 6d.;. ewes, lis. -6d.. to,.,l4s.;.istore wethers, 1 lis. 9d. : to 12s: 4d.; fafc cows,'<£4;-store.'cows,:3ss.:to£3; two-year " steers, • 45., . Co., ...Ltd.,' report , on theirrEkctahuntt-'.sale, 'held yesterday, as. fol-lows':"—More-sliecp-canie forward than were entered,, also. more: cattle. There, was a large attendance of-the public.' Bidding was brisker under" the.hamnier.than at: previous sales, and wo sold everything one-small pen of wethers.'..:We quote:—2-tooth ewes,/to 155.; 2t'ooth'wetliers; to; 12s. 10d;; .fat wethers, 175." Gd.; 1 fat ewes. 12s. Gd.; breeding ;ewes, to 10s. Gd.; cull .lambs, 45;.,2d. to Gs.; cull ewes, to" 75."2 d:-- Cattle—empty 'cows, to .£2 25.; forward cows;£2 ,7s.;'lieifers;. 265.; weane'rs,. 10s.; bulls; to 20s.;' pigs,,. to 15s. Gd.' . I'-Wo'aiso report holding 'a clearing sale on account oi- Mr.N : .T.'Larsen.NiTah'a,on Thursday. Bidding'was brisk for both sheep and cattle.-Bwes;-aged,-10s.; lambs, 7s. 3d.; rams, to 245.; : small 2-tooth wcaners, 12s. Bd.: cows, to,. £5; 125.; heifers, 265.; horse, trap and harness, £20; milk cans, ,to 15s; , Gd.; fowls, per pair, 2s.j;furniture,..etc., fair values; . . ;Th"o'.Loan and Mercantile report:—?At Feilding on 1 Friday'wo--had a .medium,yarding• of sheep'.and .cattle;'' Bidding was fairly brisk, priccs- shewing:-a' slight. improvement. - P.m. ewes, 95..-2 d.,; .f.f.m..'ewes, 12s. - 4d.; cull lambs, 45.',4 d..: tb r ,4s. Gd..; ...fat. cows, '£3 Is.; cows :and calves, 345. to-£2 17s. Gd.; store cows, ,£1 Bs. : to JC 1.155. SKIN HIDE. SALES. Messrs... i'Abrahamj. and ..Williams, 'Ltd., report on their sale; held .yesterdayWe offered a catalogue, comprising G5 .bags of 'wool, 1500 fckins, and ;350. hides; There was a good attendance of buyers, and competition-for hides was keen. but. wool'and skins were dull of. 'sale,'.the latter showing a decline in sympathy ■ with: London advices. We quote:—Wool, medium crossbred, 5Jd. to GJd;; dead wool, 4?d. ,to 53d.; • good .pieces and bellies, 3Jd. to 4|d;; inferior, Id. to'2sd.; lambs, Gd. to 6}d. Skins,' coarse crossbred full wools,' 5Jd.; crossbred, ■ fine, GJd. to GJd.; dead, 3d. to .43d.; lambs, 4jd. to aid.; crossbred, damaged, 2Jd. to 3Jd.; pelts, Is. Id. to ls.-4d.,. ls.' sd. to la. 7d„ to'2s. 3d.; salted-pelts, 9d; to Is. 4d. .Hides.—No heavy ,ox offered. Medium heavy ox,-551b. to; 621b.; 5-} d. .to Gd.;: light ox, 431b. to 4Glb., 4Jd. 43d.; 'cows,- heavy, s{d.; ' medium,., cows, 531b., 4|d.; '-light,; cows, 3Glb. to 461b., 4d. to 4Jd.; ox and cows,, damaged, 3Jd-.' to 43d.; calves, 2d. to. 3Jd.; horsehair, - lad.; -cows' tails,'.lod.

Messrs. Levin arid Co., Ltd., report as follows'- regarding yesterday's sale:—At onr fortnightly sale 1 • we offered 1400 skins, 1230 hides and calfskins, • arid a quantity of tallow, arid horsehair. There, was a good attendance ' of- buyers.- Wool is being held for tho salo of February 21. ' SkiuS.—The market Was quiet and lower, owing to the low- rates which were ruling in London at -the - last'skin sale. We quote:— Fino crossbreds, Gd. to 7d.; coarse crossbreds, 3d. to Gd.; dead skins, 4d. to -ljd.; dead hoggets, 3d. to 4d.; dry pelts, 3d. to 4d.; green lambs, Is. to Is. lid.; greon pelts, Is. to Is. Bd.; lamb pelts, Bd. to Is. Tallow.—Steady. Parcels in shipping order £U; tins, .£ls'to .£2O; rough fat,-,£15. Horsehair,: Is.. to Is. 4d. per lb.. ; Horns, Gs.' to' 18s.'9d. por hundred. Cowtails, Is. to Is.- 4(1. per dozen. , Hides.—We had'.,an excellent• selection of well-conditioned hides, which met with strong competition at higher rates than have been ruling recently. Prime ox hides advanced Id. to jd./and good cow-hides id. Inferior hides, however, -barely held their own, and calfskins.

which are Belling badly in oversea markets, woro quito a penny loiver'. We quoteOx hides, extra heavy, *Gd. to (lid.; oz. liides, GOlb. to 701b., 5Jd. tVKGJd.; ox hides, 501b. to 5!)1b., 5Jd. to sjd.; cow hides. 3*d. to -!|)d.; calfskins, best, 'Id. to -t\d.; calfskins, cut and slippy, 2d. to 3d.; hides, out and slippy, 2d. to 3d.; stag hides, 2d. to 2jd.; bull hides, 2dL to 2Jd. Our next sale will bo held 011 February 14, 1908. ...

Messrs. Dalgety and Company, Limited, Wellington, held their usual sale of skins, hides, and at-Wellington on Friday, when a lengthy catalogue of skins and hides was submitted to a larger attendance of buyers than usual. The demand for skins was not keen, and a decline of id. to Jd. per lb. was experienced in the best classes, and Id. to l!d. for inferior. Hides were well com-peted-for, and prices showed an advance of about per lb. on last salo rates. Calfskins woro''not in good demand.' Wo quote as . follows

' Skeepskins.—Best merino, Bd.; medium and inferior, 5d.; halfbred, GJd.; fine crossbred, 5|A. to GJd.; medium and inferior crossbred. 3Jd. to 4Jd.; crossbred dead, 3Jd. to dd.'; dead and broken, 2Jd. to 33d.; pelts, to' 4di; pelts, salted, Is. Id. each; lambs, salted, Is. each. Hides.—Ox, 101b., s*d. to GJd. per,11).551b., 5Jd. toVSSd. Cows, 461b. to 521b., 4§d,; 401b., 3Jd. to -4|d. Calf, 3id. bo -iic!. per lb.

' Tallow.—ln. casks, JC2I to <£24 15s. per ton; in .tins, 17s. 9d. to; 20s.'3d. per cwt.; rough fat, lGs. 9d. per .cwt.

Murray, Roberts and.Co. report: We sub- ■ mitted a catalogue of 2800 sheepskins^Boo hides, and -10 casks of tallow. The market for sheepskins showed a much easier • tone throughout, consequent on tho sharp • drop reported from London; sinco onr last sale, and tho bidding for all lots was lifeless. Sound lots, on'the'other hand, elicited fairly, strong • competition.. Prices may bo quoted a halfpenny for sound pelted woolled crossbreds, and a penny; for short woolled; inferior,'arid dam- ' aged skins, lower than our last sale. Our . offering of hides comprised many lots of . superior condition, and for all these the market showed animation, prices being about a farthing pcr'lb. better than last sale. ' Damaged and faulty hides, on the ■ other band, were not so well sought after. Calfskins were almost unsaleable, except at a much lower, range of prices. - The offerings, however, in' this line were of a very inferior sort. Tallow was steady at about last sale's rates. We quote:— ' Sheepskins.—Fine crossbred, GJd. to 7d.""per lb.; coarse crossbred, Gd. to GJd. per lb.; short wools, -lid. to 5d.; damaged, dead, and inferior, 3!d. to 5Jd;; seedy and short, 2d. to 3d.; lambs, sd. to s}d.; lambs damaged, 31d. to 4d.; pelts, ' bare, 9d. to Is. Jd. each. « . Hides.—Heavy ox, stout, GO's, 70's, 61d. to GJd.; medium ox, 50's, 58's, 5Jd. to" sjd.; light ox, 42's, -IS's, to 4j|d. ■ Cows,i superior, medium, 4Jd. to 5d.; cows, fair- conditioned, 4id. to cows, light, 4d. to ljd. J cows, damaged and faulty, 3{d. to 3id.bulls, 3d. per lb.; calf, 21(1. to 4id.. - -■ . Tallow—Casks, 225. to 255. per cwt.; tins, etc., 17s. Gd. 'to 20s. per cwt. .- BROKEN HILL-BEARS AND' BULLS. -RUSH . FOB ; SCRIP. ; »r rEt.iQEArn—miss association—corTßioirt • Sydney, January 31. - For some; nmntlis past the "bears" havo had it. nil thei* own way with Broken .Hill' shares. Yesterday a revulsion set in on the. Commonwealth Exchanges, and there was mmething like a panic in the rush to secure scrip, . which had been heavily oversold. •Prices fluctuated' violently. The capital value of eight Broken Hill mines advanced 111 the -aggregate over .£600,000. Tho Proprietary mine alone was appraised, at over ft quarter of. a million advance on Wednesday's value. LONDON MARKETS. . Messrs.. Dalgety and .Company, Ltd., Wellington, have received the ' following cable, messages .from their London boiiso, under date of January 30:—: : !• Butter.—Tho market is very firm in„ consequence of short stocks. . : Tho Copenhagen official quotation: is 2 kroner (about 2s. -3d.)/ per cwt. higher. We expect higher 1 prices, The total, imports/ of butter into the United' Kingdom for week ending. January,2s amounted to 71,000 cwt., as compared : with' -98,300 cwt. for tho corresponding week of 1907, showing a decrease; of 25,300 cwt.' Salted and unsalted, 120s;v ; -. '' .' ■' : - Frozen meat—Lamb: Prices are unchanged. Mutton: Prices are weaker. . Beef: Prices.are decidedly easier. ... j. .. , •;.• -' ; . : Tallow.—The markot is exceedingly dull, and there ■is .hardly' any . business-' doing. Prices are 3d. to Gd. per cwt. lower. ■ BANK OF- ENGLAND RETURN. «r TIDEOItirn—PBESII iKSOCIA.TION—COPTEJOHt. London, January 31. Tho Bank of England return issued for tho week ending Wednesday; January 29, is as under: —' ; ' Issue Department. , .. ./-Notelraw i£5,765,000 debt --f11,015,C00 ..' Other securi-. ties ... 7.431,000 ■ Gold ' . ... 37.316,000 . 'JE55.VC5.000 : ii 5,705,000 . Bmnio Department. ■ ■ Proprietors' Govt, sccuri- . capital '£14,653,000 ties'; ... £14,332,000 Public' de-, . . Other uecuri- . posits .... 8,831,000 fcios . ... 55,837,000 Other de- . . ' ' posits ... 42,039,000 Notes' ... 27,740,000 • . Eest, 7-day . nhd other Coin ... 1,193,000 ■ bills ... 3.568,000 , i69.1C2.000 £69,10.',(00 The leading items of the Bank of England return- afford tho following comparison :—' Tliis wcok. Last week. Last year. £ £*■£■' 'I Bullion ... 37.316,003 3G,°-74,C03 33,000,1)00 ' Hesorvo ;.. ... 26,931,000 - 26,2-1,811 ;COO ■ : Koto circulation 28.0J5,C00 .20,260,000 27,85fi,0J0 . . Public Deposits 8,881,000 6.753,000 9,153,1 XX) Other Doposits '■-42.&G9.000 42,3'28,0C0 12,2-10,000 '' Proportion of \ ■ . reserve to liabilities „ 66.68 54.87 , ' 48.31 GOVERNMENT SECURITIES.. The following are tho latest quotations for Government i securities with a comparison of t-hoso ruling'last week:—

| . THE MONEY MARKET. ' i The open market discount, rate for best ' threo months' bills is 3s. 9d. lower, at\£3 lis. ■ 3d. per cent. The Bank of England rate js unchanged at 4 per cent. . ; : COLONIAL AND. OTHER PRODUCE. , Wheat—The markets are slow, and are tend- ■ ing downward. Heavy American and Argcn- : tine shipments are counteracting the effect of . thfe reduction of the bank rate. Cargoes are . neglected; South Australian afloat, 395. Gd. to ■10s.; new crop loading, 405.; January-February r shipments, 395. 3d.; steamer parcels, Janiiary- . February, .395.;-March- shipments, 38s. 9d,; Australian spot is quiet at 4-ls. Cd. to -15s. Flour.—Tho market is dull. American de- , flined Cd.' Australian shipments, 295. •to 30s , London, 80s. Glasgow. : Sugar—German beet, 88deg., Id. higher at 9s, lid.; first mark granulated, f.o.b.,Hamburg, ■ unchanged at lis. 7d. per cwt. r ; Butter.'—The market is very firm, and- all , colonial arrivals are rapidly absorbed. Choicest F Australian, 118s. to 1205.; secondary, 116s. New - Zealand, nominally 1225. to 121s. Danish, 12Gs. : to 128s. Thcro is a prospect of a, further rise 'all round. , Cheese.—The market is quiet. New Zealand, l white, '01s.; coloured, G2s. Canadian is quoted - at 2s. more. , Wool. —Tho Bradford wool-market is very - quiet, and prices aro depressed. Nominally l they arc unchanged. Common GO's, 25Jd.'; ; supers, The London sales are irregular, and there have been considerable withdrawals, r' Good wools are very firm. Other sorts in buyers' favour. Ngatapa clip realised 91(1. THE METAL MARKETS. ' Copper.—Spot, 30s. lower at XGI 2s. fid.; three f months', 20s. higher at 15s. per ton. ; Tin.—Spot, 10s. lower at ,£124 55.; three i months', 10s. lower at .£125 ss. per ton. Lead—Bs. 9d. higher at «£l4 18s. 9d. per ton- ;, Pig iron —3d. lower at 475. Gd. per ton. i. Silver is quoted at 25 9-16 d. per oz.

WELLINGTON SHAHE LIST. N '-'COitPiNY ' V a»P#»V 'FuSSnfl. \B% «V — rBICE3 ' ' T ' t o' 5 ... ***» S gS Sharef .£U«! Invito, <5 .' '."•.- tm-wjto c ' <• £ -'n " • i> ■■ £ s. 3. i l i 'Ml £ b. d. !'•■■' Few Zealand-'.: SCCO.GOI" C8lTc75 ' : 3} 10, ;.•*» jj |W »' g.'f jj 513 1 . Rational - - - 575,000 . 835.313 : 2i . 35- ' 31! B C 0 -.-6,(0 6,6 0 SlJ.t ., " ' 1NSUBANCE. ' . j-.. '' . , . n " ,76 rO , : National-'--;'-'JCO.OOO..'." ' 840,330'.' .'--J unlM. 35 „ n J r. ,? r c M V/ "Now Zealand's '.' > ECO,(XXI : . £36,785 , 2 8. ,10 j*!. » 4 -" u .500 . . EoulhBrit!«b v;'» *100,000 ■.,- 012,19!) ; ,1 .unltd." .SO. - ,2-2 ■>, U 7 „ . :.Standard - .. - 75.000 [2,183 . * unitd. • 10 1 .. 30 . 11 u 1 - ' ' ■ "PINANCIAlj. ' ' •* : ' , ' f •*' '• in art- irt k h ' 'tn o' /• ' . •«* \ > ;'Equitablo Building ) * C0,000 ; tf/240;. •' 5 ; 5 . 30 10 3 0 1( J 5 0 . I0 - 6 <18 9 '^lletrdpolitanBuilding - 21,000 • '-.6,229 •■•' .10:... nil - \ #m<i n nia n V « #»' i. .: WllinstonInvest.; 60.000 < 3.D33,;. I i:. :. .. 6 . »» g f 0 i-.'WerglonTrust&Loan ' 101,250;. ; 44,33-1V ' 5, ,-.6 ■, 8. ic-p ■' ' Ti ' « S ? . "National Mortgage- '500,000'. -112,'250 > '8;> ' .30-' '■ 'i Q i; 5 i" J ' -K.Z,'anaRiver.Plato-: i 900.600 ySJSJSO-f \?1* "••.•nil V*: ;:.7.' '"-i.'.V-S". , . 1 4l ». 0 ..tcanandMorcanUlo• 135,221 - .315,133. . i:I&i-,■:, 6 :." u s " • GAS. V:\ : r*. , Auckland : 360,370 £0,55-3 .6 nil . 10 „ ■ -'. : ';;Christchurcli".* 352,000 - .15,087:. .'6. ml 10 , n 17 fi 017 0 •• • .V. Fcilding 1O805 : - . 103 1 nil-.' —•' 010 3 ° 017 0 Gisborno ... 17,100 P.239 1, ; Dil ... 121 '..." ..... " U - -llttwera- ' - • - . . - 6.250 . 745 ' i i'i. 10. . :''-IJewPlymbnih v- 7 18,003' '• v 8,109 ■' -v-6 ".nil. 10J :,,.7.l7_p • . ; K'apier - ■ .- ') .- 10 . nil,. ,,15 , , . . . <D,057}- 29.183 ; 5 ,- •5-'" -15 • r.':;: 9 :■ \.-raim6Wton'Notk • £7,000 ' 11.093 .'4* . h'- ' 10 J ,1 "P So n n ,o l'i; ® IS , Vcilington - • . ' .,„. !i57a ' r ' 71/.S58 10 nil . 10 " « " . ° 0 , W. 2 J 1 , £ .5 0, "mii. r - ./V'' : r ' 6 CCanterbuiy .. ; J63.727 rO.CTil ■" 73 '■. 2J I,:' ;.. ■ V/." ■.',, „ ,„,n n- ! P «, j :;ChriStchurch ■' 163,399 : : ',7.643 / 30 nil.... .8 #-. »B..g ; I " 1 ,SS, . '» * 'Ccor- -- • • ..ml., - 06,261- ■. 1- ml. '• 2 8.0 2 10 0. 2 10 U. 5 0 0 . w.o»} .. 4 s i-.'i .. . ..,. ,. c r . '. " ■ WoIliniJtbn Meat Exp " ' >5 -ml.; - g.- ' r ? n • on , 11 1 ' ,ifw "J/Vi I • • rn 7fl7' 4 • - ; 1" •• v 8-. •• -.5 0 0 • 520 o."'" • (5B6 . a05 767 ;; & 2i" ; : .8 •: 3'5;0; -.TB.fi 9; 3 5 3 -68 fl *; <5,850 V li.'iOi',' - 6 ' • ■ '■ ',-v . 370,0OT" : ' 321.451,,. 1 ' 4 ' '.'"7: "- 2 3 , 0 !.-2 3..0.- .2 3 .6 3 3 0 * >"'K-Z. Shipping : - .r . : 473,810" >--.113,751. :-' 8 -HI i- ,. 5- ..6 x7. 6 ,, . , V , Union atcam . - :• .600,000 47J.593. ■ 1 .- ni. 7j 1 }' « 1 ]a 3 . . ,V. i;tn. Stoam Ferry ' • .40,253 .. Co . 1 , ml- , ' 6 018 0 \V£'5tpbrt 0Af ''. ,. v r f£0,0(n 317.210' 5 li'- 35 ■■715 0. -716 0. 0 '£14 7 v a'aupirii- . 12,503. .' ■ 5,339,. . 1. .-niU 7i ' ' 019 b ;1 0 3 . . WOOXiIiEM. : ... : ' Kniaroi- - " • 1C0XM ;' T2.S51 5 'nil. 6 , ,- - - • ' Jicsjjiel - • i - . 60,437 . 17.2U CJ- ' li ,4 ; ,. VeiiinRion - .- : ti/.OOJ S.4.S6J 4 1 ,6 : yElO 0 .3 6 0 756 ' 'MlSCUWiANEOUS. : : •, ■ ■ , „ „ ■ A' - 47,000': . ' ' 5- n }| — . 518 0, . 6 0.0 . jLcyland&O'ilrian . 15,000 . 37,761 .1 m 15 2 5 6' 3 5 G .6 6 0 'jtlQuricerilleLim3,'. • , 7,003/ ., ■ 1.03 .'. -1. ■ .nil 8 ;1 C 0. . - ; - I..Z.Candle - ,-10,000 10 i'! -. . ., .. . . <" VK.Z.Drugs vIOO, 000 , '2,' , ojl,:... ,7- ...211.6:, .213.0 ,211 0. 5' 9.9 V. K.X.PaporHilU r. '* --04,755.'.' 3,177' .1' . u ||'. '7. : 13 0 1 3 *3. : 1' 3 .3 ; 6 0 5 . ' K.Z.CeiuonS-. - " 40.0J0 2,741 -*1. ml. j ' '!,■■■• & Co. ,, D6,0013 ■ -.,37,670 •' .4 . . v, ... _ . ■ '-.'Warir SCO. 10,030 . ,.10,655 ;-j 4; ' 1-'" ;'10 ;. ,6.0,11 BOO \('stn. Opera Houso : , 38,630.- ,3,705.., '..0; -nil ... 8 ' " 'V.. ' . ...-. 7.0/0'' 5 34 0 .- Wfcui l-'resli Food- - ia.iiil . —. 1 nil-• - AVliitcombe & Tombs- .-.46,250-: : 10,353 ] 5i ,.nil ■ 30^ bliarlaiid. LiiuiteJ iHfi'lS / .. '2,311. ' 3 - ..''1. '0 13 6 ■ 0.18 ,3 ■ 8 4 .4

" - i Variations ' ■ Pri-n compared : ' rrlc0 with J • ■ last week. ' £ a. d. , 84%' Imperial Consols... ... 86 15 0 32/6higher .4 „ N.S.\V.lG03Jan.-July ... 109 0 0 , £0s. highor .3i „ N.S.W.1918Mar-Sopt ... 101 0 0 EOs. highor 3 „ N.S.W. 1935 Apl.-Oct. ... CO 0 0 40s. higher 4 „ Vic. 1920 Jan.-July... ... 104 0 0 10s. hijjhcr 3} „ Vic. 1021-6 Jan. July ... 1C0 10 0 20s. higher '3 „• Vic.lOiO-JOJan.-July ... SSJ 0 0 40s.highor, 3i S.A. 1916 Jan.-July ... 100 0 0 Unchanged^ 3 H S.A. 1916 Jan.-July ... 8G 5 0 5s. highor 4 „ Q'l'dlMl-SOJan.-July ... i03 10 0 30s: highor 3j „ QTdl921-30Jan.-July. ... S9 10 0 10s. higher .3 „ QTdlOSMJan.-July ... '88 - 0 0 20s.highor 4' May-Nov.. ...108 16 0 . 45s. higher 34 „ S.Z. 1940 Jan.-July ...100 10 0 10s. highor 3 „N.Z. 1940 Jan.-July ... 89 0 0' •. 20s:'liighor 3i „ W.A.19HW5May-Nov. "... : 97 10 o: "iUuclmnged 3 ,, W.A.lOlMSMay-Nov . ... . 87 0 0 SOs.lilghor Si ,. Tas. 1920-40 Jan.-July ... 90 15 0 . lEs. higher '8 .. .Tas. 1920-40 Jan.-July ... 80 1 0 0 Unchanged