COMMERCIAL.

Dominion, Volume 2, Issue 497, 3 May 1909, Page 10

COMMERCIAL.

THE SHARE MARKET. ( ™ ', . Investment" sliarea "were 'dull, and only- one ;V transaction was reported, : Wellington • Gas," new nn i&sue, having changed hands at XI 3s. per- rj], V l -'.', minm. -'Bank' of 'New ; 'Zealahd,- buyers ■£& '19s.i- ne sellers ;£9 Is. 6d.j National Bank, buyers 75., sollers: iSS :Bs.; : Wellinjton . Inrestnent, . .buyers , 3d., .sellers lis. ;9dl; Wellington . Trust mid Loan, sellers '£!. 2s. ; Wellinften'Ds- • posit, buyers Bs. Gd., sellers Bs. Sd.j Welling- , ton - Gas, new issue,buyers £1 ,2«. (d. .'-pre- ™ mium. South British Insurance, sellers £2 Bs. P, 6d.; Gear Meat, X 4 paid, buyers £10, XI paid; . buyers .62 lis.; Meat Export, £2 12s. 6d. ; paid, 6ollexs X 3 Is. <kl.; Onion Steam, sellers XI 15s. .jj 6d.; Wostport-Stockton, sellers Bs. 9d. j Kauri l 0: . Tiniber,'-,buyers 14s. .9d„ sellers 155.; New :Zea- , land Drugs, sellers ,X 2 6s. "9d.; New Zealand j.• -Portland.Cement, buyers'X2 os. Gd.) Sharland's .- " . ordinary and preference, buyers XI Os. Gd., sellers XI Is. Cel. —— ■■ ■■■ ■■■■■" in '■ - THE MINING MARKET. r A salo .of Talisman at X 2 7s. 6d. was made on ■ : -'ChaiiEo;' nnd sale? of Wiiihi Grand Junction at Sii .' ■'XI lis. Gd., and XI 14s. 3d., and Watchman at mi , - xßd. and 9d. were reported. The quotations wero m< , as under:— ~- ./. ~ , /■ Buyers. Sellers. Sales. •ia X fl. d. Xs. d. Xs. d. . .Waihi Grand June- u . ... ■.• ■■■■..,•. „ tion 114 0 114 3 114 3 of ; Waihi ... ... 9 10 ; 9 26 - - Wt < Talisman ... ... 2 7 G 2 7 9 2 7 Got Tairun Broken Hills 0 17 .0 19 — P r : Waitangi ... ... 0. 4 3 04 4 ~ iWatchman ... ... 0 0 7 0 0 9. ,0 0 9 . Ifecp-it-Dark ... —'' 17 .6 . — ' Con. Goldfields ... 014 0 011 6 - , ' • Big River ... 2 19 0 — — , ; ' • CUSTOMS RETURNS. - ■ ■ , ' ■The Custom beer duty collected jf • ? at Wellington- last amounted to X 9063 ss. l Id. and X 230 19s, respectively." For the corres- vn ponding period of 1903 'tho figures wereß-e- c h vonue. X 11.887 12s. duty,'.X2ls 14s. 3d. . ,On Saturday the. reveituo collected amounted '. to XBZ4 78,'.4d.j ; as against X 163 1 :195. 4d.'for the EB corresponding day of last year. : te: ' '.-'. An Auckland Press . Association 1 telegram re . .' -etates:—The Customs' revenue lor Auckland for Ni the month of April totalled X 60,418, against of X 52.31- in' • April- of - the' previous- year. • -The -in figures for butter increased by X 20.000, and for &v ■wool by, X 3734, and for gold by X 7219.. vi , . 14 DISCOUNTING BOOK DEBTS. The Deutsche Bank, according to recent mail advices, has followed the example of kiidred a* -: institutions.in France-and'Austria'in' crpenm* 14 a special: department,ior;ithe'-.djscoTmting .book debts. This method of creating credit has to boon evolved in order.to increase the yolunie of 1 . manufacturers' turnover, and thus compensate' to - for the smaller, profits now possible , in••'sneh' gt i, ; ' - pursuits. : Syndicates',and conventions, as,.sup-; .55 pliers of 'goods in' almost all-German'industries ' Jiave made term's of :pajment more'.strict in re- , cent years, while" distributing-houses reqnir# ■ : longer' credit.,, Tho firms who' wish' to have . this facility , must allow the bank to inspect '. . ,-their books. The discounting department, in caso it is held to bo .requisite, will, make sure i that tho debts are valid, and will then determine tho amount to be loaned, on .them. .^.The - been'fiied at', 60 peT oeit.;_ ind T j the ,maximum at .80 per cent.. The basis of jj each loan is .an acceptance-by the firm,derir-; .: ing tho ; accommodation,' and the bank' then jf discounts' tho acceptance and places -the - amount to tho credit of the.firm, "the latter be- - .V".'.-'. ing put .tinder the obliration to.devete a por- - ' . tion thereof to the settlement, of-.debts,due to ; the firm's contractors for. supplies. The hank , Jitself will undertake, . the settlement, and the ~ firm is also'required as far as possible to take - _ steps to ensure that its; customers also preceed' " ; Vith settlements at , the .bank. The interest and . ' '''commission oharges Avill.be arranged- 1 from case a 1 to case, dnd will in general be .those usual in 'credit ; acceptance transactions. HIDE AND SKIN REPORT. ••'".••-"Messrs.' Dalgety and Company, Ltd., report having held their, usual, monthly sale of wool, , ''' skins, hides, eto. 'on, Friday, when they offered j -...V a full catalogue of all,classes to a large.attend- • . anco of buyers. ' Competition was keen for.all •; lots oifcred,'and;a;total clearance,at following. .' prices 'is .reported:— . Wool.—Crossbreds;'ssd.. : to'63d.; fine,'cross-. ' •. ,': bred, to BJd.;'lambs wool (good), 10 7}d.; seedy • and iaforior,*MUii to 61d.';',dead jvooli"sid;» to •< V.';^V^'Md;r.crutehl2g3"(clean),'>>4|d'.'j''-'ii»fei , lorVditto;i' " ... 31d. t0.4d.; pieces; t0.41d.; locks, 3d.,t0 33d.; ■ flirty:locks, 2d. to 21d.; Ijlack wool,;,tp:sd:;:' ' fuir'wqols, K to:,6idi per, lb.i orosßbred':half'-wools, 55d. t'o : sJd.;<quarfe ' wools,' sd.' to 's}d.V pelts, •to 4Jd.; lambskins .-.'.'..(w0011y), ,6id;; short and shorn, sd. to 5Jd. r iambs'(damaged),' 'to 5d.,j (damaged),- .J to 43d.; -:dead, 4}d. .'to ■43d.';' ; inferior;:'and' t •i"; v damaged tpelts,2Jd. : to 33(1. Butchers' cross- o ■: brcds at.per.piece,-:25..10d., i 3sj, S ■ . is. to,- 4s.i 7d.; butchers' lambs' skins, (shorn), , Is. lid. to 2s. Id.; salted croEfbreds, 33. 4(1., j ■ •; Bs. Gd., 3s. 8(1..'t0 3s. lid.'; pelts, Is. td. to ,2s. v ' 4d.; lambs' pelts.(salted), l 2s.'ld. to 2s. Gd. Jj ■ 'Hides.—^Ve.offered": one'extra'heavy ox hide," if ;which sold at 7^l.' per .lb., realising X 2; 125..,' t Ox. hidos'(oitrai: '.to.- medium.;to lieavy,-'s3d. ;i to'-sid.';',ox :hides,"light, ojd.'to I ■ Sjd.steers,'it6: sid."';'cows' (best lines),'ssd..-to ; . sid.; cows (good), sd. to sjd.; cow? (wetiand I sloppy), 4Jd. to ,43d.; ctws -(cut),- 4Jd.;' slippy, s ■! . to 4id. ; bulls and-stags; Aid.-to 4Jd.; yoarlings, i . ■ 4|d. to ;SJ-d. Calves'' skins.—Best- lines, to : BJd.: i . . per lb.; cut and slippy, 4Jd.to 45d. .. . » :; j. ■,;. Sundries.—Tallow, in' tins, -to 19s. 3d.;'' casks,' j to 21s. 9d. ; tips, to ls. ; . 2d. per dozen. ..' / Our next 6alo will.be held on Friday, May 28. { , f BANK OF ENGLAND RETURN. . , , c s , "\(BT TELEQBATH—FEESS ASSOeiATIOW—COPTOIGHT.) c : 'a- - u ■ . ! :.:• .. London, April 29. ■ 1 The Bank.,of England rotum issued, for-:the: •week "eliding 'Wednesday,' April 28, is, as 1 - ;;;:- : jinder:—; : -,VV; . '] • iEßini -DUPARTMEKI.-' -1 '-i i;KoUlEim« ... -£66,403,000-. Gov. Becaritleaill,ol6,ooo : i -" ■• ■•■ ', •, -. •'■ • Other seouri- -,.- : " "-" ';• ties 7.434,000 ' - - ', Gold ... '37,953,000 ' ->V.; —r'- •'■■ '.— —-; i £55,402,000 : £53,402.000 ' I DisPißTjO'.sr. :. ■' rroprietora' Govt, securlcapital. - £14.653,000 ties ... £15,365,0 M - Public dei " . Other Becuri- • posits-... 12.7C6.000 - ties ... 80,862,000-. Other de- 1 • '" . posits ... -44.091,000 Notes . .... 27.4i8,C00 • " -Best, -. :- ando'Aer ' Coin ■ «. •'• 1,529.000 '! . .;: bUla •. ... 3,ICS,COO' '■" ~- ~' ..., ; - ~: ; £75,£05,000 ; ;: . . .;£75506,000 : ~ ' The leading items of tho Bank.of/England-; return afford the following comparison:— -' :'i..v "• ;, ;- '• This wcei. Last week. last year. ■'■ . ' Ballloo ... • ... 37.9E3.600 • 57^77,000:-;35,«44.000 : V ; Reserve;..": • ... e5.C55.0C0 SS.SW.OOO: -27,151,000 )■ Hoteolrcalatioo -28,D76,C0J , -23.075.0C0"" £8,646,000 Public Deposits 12.706.000 1-2.731,0C0 ,9,993,030 OtborDeposits::.. 49,691.000 45,128,000 43 a 35,000 • r , : - ; Proportion" of , V ■ ,- v ; reservo- to . v• Uabllitiea ..... - .;■ 60.31 • 49.73 , 51.0i-. QOVERNMBNT SECURITIES. , The following are the latest i; . : Sovernment securities; with a. comparison o( , ihose ruling last week ' i Variations - , : Fric ° : - ::••. :■ ' v ; -• ■ ■ lastweok. : ' - £ s. d. ■■ -. :: Sl% Imperial Consols... ... 85 0.0 Unchanged . 4 N.8.W.1933Jan.-Jaly ... 108 00. Unchanged '..■I- ti „N.S.'W.l9lßMar-Sepi ... 69 00\ 6s. higher .•;■ :I „N.B.\V. 1935Ap1.-Oct.'. ... 'S3 60> ss.higher i „ Vic.lEOJ*n.-JuSy... ... 104 0 0 ICS. hijjhor Bjv Vie.lOSWJaniJuljr. ■ ... 00 10 0 -10s.hi»her :* „Vie. IKS-49 Jaa.-Juiy ... 87 13 6 2b.6d,hiiher ■2i „ S.A. ISI6 J&n.-July .. . ... CD lfl 0 Unehwzed ' , .» .„S.A.I9HJaB.JnIy 85.10 0 10s. hiiher i „QT4IWM4 Jan.-Jnty ... 105 10 0 . -lis.hiher • : Si ..OT*l>H-SOJ»n.-Jaly ... 'ill il 6 2s.id.hijher" . 3 „QTdl»lt-47J»a.-jßly ... 87 0 0 ss.'hiiber 4 , N.Z.'IS3VMay-No7. ■. ... 101 -0 0 ''.Unchanged : ' 'si „N.Z.'lo4«Jaa,-Jaly ... ... . 6010 0 ' ' 10s.higher ' ' ' 8 „N.Z.lMtA?ril-Oct.. ... '87 10 o.'.' Es.higher si „W.A.lftlo-4CMty-Nov .... 68 .0 0 lOs.higher 8 „W.A.1»1»-ISUay-Nor ... 87 10 0 20s.higher ; si„ T*s.394»jM.J»ly ■•', . ... 08 0 0 Unch»nged g. w T&s.ltß9-48Ju.-Jily • ... 13 0. 0 .Unchanged THE MONEY MARKET. ■ -.' The Bank of England discount rate is,2} per cent., to -which" it was reduced on April 1. • The open market rate, for best three months' bills is unchanged at'li per cent. Short Sloans,are unchanged.at. Id. per cent. - COLONIAL AND OTHER PRODUCE. Wheat.—Tho markets are firmer owing to im- - ' proveineht in American prospects. •; Cargoes are hardening. -Australian is quoted at 42«.- ;3d'.- - Holders are asking 425. 6d. for afloat, and also . for April-May sh'pments. . There i« a small inquiry for-Australian on. spot at 4S». I'lour.— I Thare ■' hns been a sharp decline at --■ Glasgow owing to heavy arrivals. Australia*: Sales have-.been inado at 335. (id. ex quay. A '. . '.'Binall: quantity is offering in .London at 335.. . tO 31S. -I ' "■ .' ' '■: . — ; Butter.—The market is quiet. There is a good inquiry" for. choicest New Zealand at about -A: ',100s.' to" 101s'.;' Australian, 945. to -'855.; other ; 'fcoi'ts are neglecttd. ' '■ ,' Cheese.—The nmrkot is-firra. White New Zealand, CO3. to Cls.i coloured, 625. to .G3s. :<■: v. Sugar.—German beet, ;10s. 5d.; first marks, '- ;- ; i25.,3d.:.'.;:- ■

i' Bradford Tops.—The market is.nrm'and .unchanged. Sheepskins.—At the London sales, 5550 hales. Australian were .catalogued. Merinos,and fine crossbreds, "-farthing to halfpenny/.dearer; coarse v orosshrcds ■ combings, haliponny dearer. Tho. bulk of: th 6 offerings, olothing qualities and short woollen skins, id. to id. decline. There were many withdrawals. Pelts were negleoted. '■-. ""'.7":"'"':."' • "' . THE METAL MARKETS. ;■ ' Copper.—Spot, £1 6s. 3d. higher at JES7 7s. 6d.;' three months, 10s. higher at £58 2s. Cd. per ton. Tin.—Spot, 17s. 6d. lower at £132 55.; threo months, 15s. lower: at .£133 10s. per ton. ;Lead.— £l 2s. 6d. higher at £13 7s. £;!. per ton. •' ■ ■ Iron.—l7s. lOd. per ton. . , I Silver.—2l 7-16 d. per ounco standard. COLONIAL SUGAR COMPANY.. (by MLKOKiPH—raiss association—coptmobt.)' Sydney, May i: At" the half-yearly' meeting of. the Colonial Sugar Company the profits during the past six months were stated to amount ■ to, £162,632, making the total 6iim available for distribution £159,050. A dividend of 10 per. cent, is delared, and £56,500 carried forward. • Tho chairman stated that tho production of sugar, in Australia this year wjrald fall short of tho consumption,' and some importation would be necessary. ' The proposal to erect another mill in Fiji had fallen through for the present.