COMMERCIAL ITEMS.

Dominion, Volume 3, Issue 759, 7 March 1910, Page 10

COMMERCIAL ITEMS.

; INVESTMENT SHAKES. The transactions recorded on Saturdrv wors National Bank at £6 65.; Gear' Meat £1 paid, at £2 145.; We3tport-Stockton Coal " I s - M-; and Lcyland-O'Erien Timber, at £1 3s. 9d. There are scarcely any changes in the quotations. National Bank, buyers, £6 55., sellers £6 7s. i Wellington Investment, buyers Us.,se!lers Hβ. 6d. : Christohurch Gas, sellers £9 17s. 6d.; Gear' Meat fj P cid j, buyers £2 13s. 9d.; Meat Expert, £2 12s. 64. paid, sellers £2 165.-61; Union Steam, buyers £1 Us.; Wellington Woollen, ordinary, buyers £3 Is.; preference, buyo'-o £2 8s; 6d., sellers £2 3d. 3d.; Weotpoi't Coal sellers £6 2a.; Westport-Stookton, buyers Vs. 3d., sellors 7s. 9d.; Kauri. Timber.'buyore ltis. 3d.; Leyland-O'Brion Timber s?l----lors £1 4g.j N.Z. Drug, sellers £2 W 6d.N.Z. Portland Cement, buyers £1 J9s. 6d.; bnarland's preference, buyers £1 2s'' Tarpnal:i Petroleum, sellers Bs. 6d.; Ward and Go. brewery shares, buyers £4 15.

BEITISH'FINANCE. The position of British Government finances,'now engaging the attention of tho Imperial Parliament, is a peculiar one. 15xponditnre is heavy, the estimates for the financial yoar, which terminates four weeks henco, being 162J millions sterling, agaiast 152J miUions for the previous year; while the estimated revenue, , on the basis of pretaxation, left a deficit of 153 millions, which, owing to tho rejection of the Finance Bill, has not yet been providod for. On January 15, according to tho Economist,", the amount of Treasury Bills outstanding on January 8 was 30 millions exclusive of those issued privately. Since that date 15J millions have matured, but fresh issues to a greater amount havo been made, so that tho amount of Treasury Bills, now outstanding is, probably in the neighbourhood of 40 millions, against 15 millions at this , time last year. In addi-' tion ;to .dealing with the Treasury Bills, tile Government has to provide for th« redemption of the; outstanding balance of the National .War-Loan for £30,000,000 floated ten years ago, of which, after deducting purchases and.cancellations, about £21 CCOCOO, will fall/due on April 5. On Monday the Qoverament will issue Treasury Bills amounting to four millions, and has socured, nowp'r to seize another £3,0G0,Cf10 of the sinking funds, and has also obtained power to.extend its borrowing from April 1 to September 30;. There ia also before tho Qovorcßient the task of'establishing a proper equilibrium between revenue and expenditure, a task rendered difficult by tho further increase' In the upkeep cost of tho

MONET AND INVESTMENT. In their share report issued in connection with: their monthly, publication "The Kegmter. and . Property Investor's Guide," Messrs. Harcourt and Co. write as follows: — The Browing easiness of money has not failed to;;havciviU.'.effeot on the stock market, where "a decided improvement in tho volume of business has been disclosed dur">B the past month. There has been a steady demand for good investment- stocks at satisfactory prices, but, generally epeaking, the would-be investor will have to increase his price before sellers of tho more favourite stocks will be tempted to sell. Mining enares also received a considerable amount of. attention, though chiefly con- - fincd.to a few_ of tho: leading stocks... ■ 'There is still a good demand for money, which is.not coming into the market as freely as might be expected, and investments for largo amounts at 5J per cent, on first mortgage arc easily found. Thoso who are still holding out for the higher rale of interest will, wo think, find difficulty in placing their money. i "I!ris-satisfactory' to note the success which has attended nil the colonial"loans winch have recently been offerod for subscription on tho London markets, as showing that the easy financial conditions prevailing at Homo have tended to direct tho attention of investors towards the colonies as affording a remunerative outlet for capital, which, together with the money accruing from the salo of our produce, should ensure , a return to a series of, we hono lirosporous years.'.

EMU BAY RAILWAY. ■ . • The report of the Emu Bay ana Mount Bischolf Bailway Company for the year ended December 31 last shows that the gross,earnings of tho line increased to a moderate extent, amounting to £58,7(10 which represents a gain of £1900 on the takings tor 1908, though it is still £6800 below the 1907 level. Tho company again received the full £10,000 to -which it ie entitled under the lease to' the Emu Bay Railway Company, and the dividend is brought up to 5 per cent., as before, while a slignJy larger balance is carried forward. Customs revenue collected at Wellington on Saturday amounted to £1331 10s 3d The total for tho week was £11,986 Is. 6d' beer duty amounting t0,£417 Is. BANE OF ENGLAND BETTJEN. By Tclosraph—Press Association— Copyrieh*. London, March 3. The Bank of England return issued for the week ended Wednesday, March u is as.unto:— . ' "■ Issue Department. Note Issue... i' 60,169,000 Gov. debt .•.ill 015 000 Other securi- ' ties ... 7.134,000 G °'d ~ 31.720,000' £50,169,000 / £50,169,000 Banking Defabtment. ' Proprietors' Govt. securiOthSde- ■" U ' moo ° •"■ ties - 29.M7.000 i 69.659.000 £69,659,000 The leading items of the Bank of Eneland return afford the following comparison :— This week. Last weok. Last year Bnllion 31,720.000 3M61,00d asiaiiOOO lieserve ... ... 2iUSi,OOO 27,333,000 ar.Ms'ooO Notecireulatloo 28,264.000 47,748000 mSoOO' Public DoiJOSits 11,:i49,0ft) .6,251.000 15 794000 Other Deposits 4U,232,000 44,403,(JU0 ■ 40.705000 lroportion of , rosorvo to ' * littbiUticß ... 50.73 51.87 48.83 GOYEKNMENT aEOUEITIES. The following arc tho latest quotations for Government securities, with a com-' parison ot those ruling lant week-- ■

J BANK BATES 0§ 'DISCOUNT. The Bank of Eusland discount rats whidi was raised ..oa : . Octoboi;. l tzomzi

to 3 per cent., on October. 14 to 4 por cent., and or. October 21 to 5 per cent., was on December 9 reduced to 41 per cent., on January 6 to 4 por cent., on January 20 to &b per cent., and on February 10 to 3 per cent. The Bank of Prance rate was reduced from 3jt to 3 per cent, on Jar.pary 23, 19C8, and remains at the latter figure. The Imperial Bank of German! - , on September. 20, advanced itu rate of discount from 31 to 4 per cent., and on October 11 to 5 per cent., lowered sanie on January 21 to % per coat., and on February 10 to 4 per cent. MARKET EATES OF DISCOUNT. The following show the nm-ket rates for last three months' billE:— London Paris Berlin rate rate rate per cent, per cent, per cent. March 2 5-16 28 3 Last week 21 2jj I Last year 2i ■ 1 23 Short loans in London are i higher at 18 per cent.

COLONIAL AND OTHER PRODUCE. Wheat—Tho wheat markets are dull. American is lower, and iu little demand oil the Continent, and there is little pTospect of improvement in the inquiry, while liboral shipments continue. "For Now South Wales, February shipment, 38s. 9d. is asked, and for South Australian and Victorian,, steamer January. 395. 6d. For a steamer parcel afloat 395. 9d. has bees paid, and for Australian, March-April, 3Us. ljd. Spot price is nominally unchanged. Flour is o.uiot. A fair quantity of AusI tralian afloat and March shipment has been sold at about 28s. c.i.f., London. Butter is very firm. Colonial arrivals have b-eon all cleared. Australian choicest, 12Ds. per cwt., occasionally 1235.; secondary (scarce), 116s. to 118s.; New Zealand, choicest, 1225. to 1245.; secondary, 1135.; Daui&h, 1283. to , 1305.; Argentine, 120s. to 1223. Cheese dull. New Zealand coloured, 58s. to 595. per cwt.; white, 595. to 60s. Sheepskins.—At the sheepskin sales 4850 were offered.. There was an average attendance and good competition. Longwoolled skins sold at from par to jd. advance. There was less demand for shortwoolled, which were from par to id. dearer. Sugar.—German beet sugar, sd. higher, at 14s. 4d. per cwt.; first marks, sd. higher, at 16s. Id. Bradford Tops—The Bradford top maTket is quiet, with prices firm. Merinos are occasionally a shade higher. THE METAL MAEKET. Copper, on the npot, £60 Us. 3d. per ton;' throe months, £61 Bs. 9d.; electrolytic £62 15s. . ■ Tin.-Spot, £149 17s. 6d. per ton; three months, £159 10s. Glasgow pig-iron, 51s. Bd. per ton-a riEo or sd. Silver, 23Jd. ' FROZEN MEAT. By Telocraph-Prcss Association—Oopyrieht (Eec. March 6, 5 p.m.) London, March 5. The Frozen Meat Trade Association's Smithfield market quotations for tho undermentioned classes of frozen meat are based on , actual sales of not Jess than one hundred carcasses, of muttonvor lamb, and twenty-five Quarters of beef of fair average quality. Tho'quotations are not for selected lines, but for parcels fairly ■representative of the bulk of the shipments now on tho market. The prices which follow are on an average a farthing per lb. more than tho value ex ship, this ; difference representing an average cost in expenses, handling, conveyance and selling tho meat:—' ' ' ' . ' Feb. 26. Mar! 5. Mutton— ' d. d. Canterbury, light' :.... ■ — — Canterbury, medium ......... — — Canterbury, heavy .....: — — Southland — _ North Island, best 311-16 315-16 North Island, ordinary ... — 313.15 Australian, light 35 3j Australian, heavy 33-16 35-16 Diver Plato, light 3.'t 3 9-16 Eivcr Plate, heavy _.. 37-16 ej LambCanterbury, ligHt _ 51 —' Canterbury, medium 55 — Canterbury, heavy ....:.; 54 — Southland j- _ North Wand, selected 51 4J North Island, ordinary ...' 43 43 Australian, hest 43 45 Australian fair 4J . 43. Australian, inferior ........ 4)1 41 Eivcr Plato ....' 4i ' a ' Beef- '.. v '" ■". " ■■ . New Zealand, ox fores ...... 33 33 ■ Now Zealand, ox hinds ... 4J 4J Australian, ox fores 3 31-16 Australian, ox hinds 31-6 3} Elver Plate, 01 ■ fores 3 . 3M6 Hiver Plate, 01 hinds 3} 35 ACTIVITY IN MEAT TEADE. ■ (By Telegraph.—Press Association.) _ ... . Dunodln, March 3. : Very considerable activity is being , dis. played in the local frozen meat market. During the past week 76&0 lambs reached tho Burnsido freezing works to bo frozen for tho London market, and there is every

prospect or the daily average of 1400 being maintained. The reason for such large consignments coming forwnrd may bo. found in the dryness of the weather and the fear oJ lack of feedins.'

LONDON MABKETS. Dalgety and Company, Limited, report having received the following cable message from their London bouse, under date of March 3:—Frozen meat: There is good demand for New Zealand lamb and mutton, and u fair demand for New Zealand beef. With a firm market for beef and lamb, and a firmer market for mutton, quotations arc as follow:—New Zealand prime ox beef, fores, 3d.; do., hinds, 3}d.; New Zealand crossbred lamb, Canterbury, heavy. SSd.; do., light. 5Jd.; do. North Island, heavy, 5i1.; do., light, sjl; New Zealand prime crossbred mutton. Canterbury, heavy, 41; do., light, IJd.: do., North Island, heavy. Hi.; do., light, 33d.; Australian good average quality crossbred lamb, heavy, 4gd.; do., light, 43d.; -Australian prime crossbred mutton, heavy, 31d.; do., light, 3j)d. There is a, scarcity of Canterbury lamb. Prices generally will probably decline when arrivals are heavier Skins: Combing skina are at par, to 3d higher, whilst clothing skins are Jd. lower. Tallow: Prices in general are 3d. to 61 higher. C.I.F. prices are no better.

HIDE AND SKIN EEPOETS. ■Messrs. Dalgoty and Co. report:—At onr monthly sale of wool, skins, and hides, etc., held March 4, we offered a full catatonia of all classes to a large- attendance of buyers, competition being very keen for all lots offered, and we have to report a total clearance at the following pricesWool: Crossbred, 83d. to 9}d. ; coarso crossbred, BSn.; log-Ptaincd, seedy, and inferior, 7* to 8.W.; lambs' wool, good, 10d.; medium, 91 to 9JI; seedy and inferior, 63d. to 73d.; dead wool, to 73d.; black wool, 6d. to 6id.; erutchiriirs, 5Jd. to 5M.; bellies and pieces s«d. to 73d.; pieces, s{d. to fild.; locks, «d.; locks, dirty, 3d. to 3Jd.; washed pieces, to 73d. Sheepskins: Cro3sbrod full wool, coarso. 63d. to 7Jd. to Bd.; lambs, 6Jd. to 7Jd.; dead, 5Jd. to 6Jd.; crossbred, damaged, Old to 6d.; pelts, sd. to s*l; rough pelts, 3Jd. to 4il; pelts, badly damaged, and inferior, 2d. to 2Jd.; butchers' pelts, at piece, from 2s. 6d., 2s. 9d., 2s. Ud., to 35.; salted pelts, 2s. id., 2s. 7d., 2s. lOd., to 35.; salted iamb pelts, from Is. Id. to Is. 10d. Hidss: Medium ox. 7>d. to 7Jd.; light ox, 63d., to 7d. ; cows, best lines, 63d. to 616..; medium, 61d.; rough, to 6d.; yearlings, to Bfid.; cows, slippy, sd. to 5Jd.; cut {"J*. Sd. to 511; dry, 43d. to s*d.; horse ["des, to 63. 9d. each. Calfskins: Sound, from 9d. to 9£d.; calfskins, cut, 6Jd. to 7d.; slippy, to 3nd. Sundries: Tallow, in tins. ■»» P« cwt.; rough fat, 13s. to 14s. 91 i. rabbit skins, 83d. per-lb. ; . tails, to Is. 6d. per dozen; horsehair, from Is. 4d. to Is. 6d.; cowhair, 9Jd.

Mr. Hugh Roberts, Feilding, reports:-On Friday I hold my monthly sale of wool, Minis, and hides, and offered a catalogue comprising. 20 bales, 130 bags wool, 1150 skins,' 200 hides and calf, 3 casks and 80 tins tallow, horsehair, cowtails, etc., to a Rood attendance of buyers. Quotations:— } y , oo k,P< ! ? ce ' Bid.; seedy,-6?d; dead, Bd.. 73d.; inferior, 53d.; black, 6?d.: bellies, 63d., 6d.; pieces, 6d., 53d.; locks, 4Jd., 41; L- P., 43d.; crutchings, 53d.; lambs, 9}d., 9d., 83d., Bd. Skins: Crossbred, 73d.; coarse, 7Jd.; inferior and broken. 43d.; lambs, 51d. to 7}d.; dead, 6Jd., 5d.; broken and inferior, .4Jd.; shorts, 5Jd., sid.; seedy, 4jd.; pelts, 5Jd. and 4Jd.; .broken and inferior, 2d. and 2>d.' (he.ll dry at each), shorts, Is. 9d., 2s. 2d., 2s. 4d., 25.-7 d. and 2s. 9d.; lamb 3, 2s. 3d. (Hght); good, 4s. 6d.; lambs pelts, Is. Id., Is. 2d., Is. Ud.;, salted shorts,. 2s. sd. Hides: Calf, inferior, 4Jd., sid.; ■ medium, 73d;. yearliiigs, 5Sd.; cow--6M,, to 6Jd.; ox. light. 63d.; cow, inferior, 4Jd; c. and s., 3Jd.; olightly cut. 4>d. Tallow: Casks, 255.; cut tins, 235.; rough fat, 10s.; cowtails, Is. 4d.

I'EILDING MABKET SEPOET, Messrs. A. H. Atkinson ihd Co., Ltd., of Fcildin.7 report a heavy yarding,of pigs at their- weekly' sale on Friday, over 120 penned. The report states:—We sold nearly every lot, but, for medium and inferior quality, prices. ruled in buyers' favour. Poultry to the number of 300 were penned, mostly birds of indifferent quality and growth, and values made were in keeping with the offering. We marketed a larse quantity of fruit and produce, good peaches making up-to ss. per case. Potatoes varied largely in price and condition. We held successful clearing sales during the week, in tho estate of tho late Miss Murray, and on account of Mr. S. W. Fitzherbert. Quotations:—Piss: Weaners, 45., 4s. 3d., 4s. 9d., ss. to ss. 6d.; slips, 65., 6s. 3d., 7s. to 10s.; stores, 125., 13s. to 15s. 6d.; porkers, ■ 165., 175., 19s. to 255. Horses: Aged mare, £4 10s.; hacks, £2155. to £5. Poultry: Laying hens, Is. 6d., Is. 7d., Is. 9d. to Is. lid.; others, 10d. to Is.; chicks, 4d. to 8d; cockerels. lOd. Is. 3d., Is. 5d., Is. 6d. to Is. 10d.; roosters, Is. 21, Is. 71 to Is. Ill; ducklings, 91; ducks, la.'3d., Is. 4d., Is. 7d. .Produce: Bran, 55.; wheat, 4s. 3d. to 4s. 9d.; maize, 4s. 3d. to 45..6 d.; oats, 2s. 4d. to 25., 8d; wheat'and tares,. Bs. 9d.; rhubarb, Bdwtoi-9d:'->bundle; onions, 3d. to Id. per lb.; potatoes, 45., 55., 6s. to 10s. per sack; peaches, 3s. 3d., 4s. to ss. per case; cucumbers, Is. 9d. to 25.; quinces, 25,; p'ears, 3s. to 3s. 6d.; apples,2s. 6di, 2s. 9d. to 4s. 6d.; pumpkins, Is. 6d. to 23.; iiio melone, Id. per lb.; cabbages, 2s. 6d. i ■ - .

Mining news will be found ,011 page 9 oi this issue.

Variations _ Prioa C °™!j5£ ed ■—. . last wook.: 24% Imporiul Console Bl 10 6 fin inm,» i N.S.W.MBJftn.-Jnly 107 0 0 UnchaS 3 ,,N.S.W. 11)33 Al>l.-Oct. WHO 0 So, o»r t ,. Vic. 1920 Jan. July KUtiB Unchanged Si,,-Vic. IWI-β J»n. July as 10 0 UncKed 3 ..Vio.llH9-fflJnii.July 8(1 0 0 WslKr 31 „ 9.A. 1016 Jan.-July w ■ 0 0 Unctauced 3 ,,S.A. 1010 Jnn,July W 10 0 Ms h|«hw 4 ,.QTill015-i!4Jftn.-Joly 101 0 0 10s Ker 35,,gTcll9-24-3OJan.J,i| y 58 7 C 76. M I k m 3 ,,Q'rdll3ii7Jiin.Jttly Sβ 0 0 io,hu Sγ i „ N.Z. IBS Miiy-Nov. lOli 10 0 lOe' S 3J..N./,. 1010 Jan.July US 10 0 Unci "S :i5.,W.A.10-20-40May-Nov 89 0 li 7a.6iUiM,cf 3 ...\V.A,1916-S5Mfty-Nov 80 0 (• ins h> 34 ,,Ta». 11140J,in.July 07 10 0 Uncial 10 0 Unclmniod