COMMERCIAL ITEMS.

Dominion, Volume 3, Issue 799, 23 April 1910, Page 8

COMMERCIAL ITEMS.

INVESTMENT SHAKES. A sale of Leyla.nd-o'Brien Timber shares at 245. 3d. was all tho business recorded yesterday. Taranaki Petroleum shares arc in Bood demand, buyers are in the market for large parcels, and have bid 12a 6a but sellers arc scarce. These Miates seem likely to Bee biKEcr money. New Zealand Loan nnd Mercantile shni'cs have taken a Me jump, and avo now Quoted at 10s., buyers. , TVcllinKton Trust and Loan, sellers £7 3s. 6d.; Pcildiuß Gas, sellers £1 2s • Wellington Gas, £6 15s. paid, buyers, £13 6a. 6d., sellers £13 10s.; Canterbury Frozen Meat, buyers £6;- Christchurch Meat buyers £11 10s.; Gear Meat. £1 paid buyers £2 13a. ; Wellington Meat Export £2 12s. 6d. paid, buyers £2 12s. 6d.: New Zealand Shippine. buyers £7 155.: Westport Coal, buyers £6 65.; Vestport-Stockton, sailors 7s. 3d.'; DonaKh.7 Hope and Twine, buyers £1 2s. 6d.; Leyland-O'Brion Timber, buyer* £1 '*-* Now Zealand Drue, buyers

1 £2 63. 6d.; New Zealand Portland Cement, buyers £2 2a. 6d.; Sharland's preference, sellers 235. LONDON .WOOL SALES. Opinions differ as to the prospects tor wool at the sales to bo held in London next week. Some seem to cousider that all grades will decline, while others think that there will bo no change, or. if there is, that it will affect crossbreds only. The Antwerp sales, which terminated on Thursday, were very unsatisfactory. Ordinary crossbreds were neglected, other wools were uuchaußed, but the worst fcat.ure to he noted is the poorness of the sales. Out of 6784 bales offered only 1747 sold, from which, it is obvious that manufacturer are well supplied with the raw material. In a, private-letter by the last Enriish mail, the writer pays:—"The total quantity afloat at March 1 is 212,285 bales, compared with 135,145 bales, an increase of 77,140 bales, so the shortage will be fully overtaken before the-Eales open on-July 12. It looks, therefore, aa if the top of the market will bo reached in the March sales, and in July we may have a, slii-ht set-back at any rate in coarse and medium crossbreds. perhaps id. per lb. fall. Business ic Bradford is vorynood. and many " manufacturers want six to cisht months for the delivery of new. orders! their output for the meantime bcine fully sold."

LIFE DfSTJEANCE AMALGAMATION. A combination of tho Mutual Lifo-α-nd Citizen s Assurance Company with the Australian Widows'' Fund Lifo Assurance Society, Limited, has been provisionally agreed to, and the latter society 13 calling a meeting of its members to be held in Melbourne on May 20. to approve special resolutions which will be suomitted by the board. It seems that, to give effect to the scheme it will, be necessaTy for the Australian Widows' Fund to eo into voluntary liquidation. Tho directors, tho actuary, and tho secretary o£ tho Australian Widows' Fund strongly recommend tho acceptance ,of tho .proposal, and it" is pointed out that on amalgamation the ordinary branch of the combined offices will have— ■ . . ■ •'■ ■ ■ ■ £ An amial income 0f\....; '983.931 funjs of 5,570,533 11,a74 policies for :.:... ; 21,929,484 Annnities .-. ■..■;......v...... 14,232 The industrial business of the Mutual Lifo and Citizens' Company will add a further— £196.431 to the premium income £30,849 to' the income from interest . £227,299 to the total income £721,849.t0 the total funds 214,065 policies assuring £4,067,968. Tho terms of amalgamation are extremely fair to the Australian Widows' Fund Society, .and there is very little doubt hut that the members will vote for the nroposal. Australasia will thus have another , powerful life office, which should ■ appeal to insurants who value financial strength and stability.

The amount of Ourtoms revenue collected yesterday was £1995 Us. 4d.

WELLINGTON PEODUCE MAEKETS. The New Zealand Farmers' Co-operative Distributing Company report as follows:— The market for potatoes is unaltered from last week. , .We strongly urge all growers not. to send forward shipments of bliehted potatoes as there is absolutely no sale for them here. Eggs continue to be very scarce, l and : we have to-day realised np to 2s. 2d. per dozen for a special line. Wo recommend larger shipments of both fresh and preserved eces. Butter is much firmer in price, and consignments are recommended. Tho market continues chitted with marrows,- and shipments should not bo sent forward. Dessert pears, good sorts, are finding a very good market. Apple 9 still continue to arrive in large quantities, and- prices are unaltered,- except for firstclass lines of Cos's Orange Pippins. Tomatoes' of very medium quality, are still coming to hand and realising good values. Potatoes, medium £4 10s. to £5 105.,' others £3 per ton; onions, £4 to £4 10s. nor ton, garlic, 4d. per lb.; cabbage, choice'ss. 6d... ordinary Is. 6d. to 3s. 6d. per sack: green peas. Bd. per peck: carrots. Hutt. Oα. doz,: turnips, white, 4d. doz.; swedes. 2s. per sack; vegetable marrows, 6d. per sack, market glutted; pumpkins. 3s. to 3s. 3d. sack; lettuce, choice 35., fair 6d. to Is. 6d. ner case; spinach, best. 2s. per case: French beans, 3s. per hnlf-Eack; cucumbers, outside grown,. 6s. 6d. per banana caso; spring onions, 4d. to 6d. doz. bundles; tomatoes, round 4s. 6d. to 6d., Hutt 3s. .to :4s. 6d; per half-case; apples, cookers, largo. Js., small 2s. to 25.-6 d. case (market glutted), Oox's Orange 7s. 6d. to 95.,-des-sert, well coloured 4s;' 6d. to 65.. others 3s. 6d. to 4s. per case; pears, dessert 6s. to 75., cookers, large 4s. 6d.. small 3s. 6d. to 4s. per case; rhubarb, 2s. 6d. doz'. bundles; grapes, best Eutt Is. 3d., best Nelson Iβ. tier lb.; radish, 4d., doz. bundles: butter, best separator, printed wrappers 10d., separator, bulk 9}d. to lOd.. dairy pats' 9d.; cheese, best factory mediums 5Jd. to s*d. nor lb., loaf 61d. to.7d. lh. ; dressed pork, 73's to 90's 33d.. 90's to lOO's 3d., baconcra 3d.;, choppers (heavy) 2d.: eegß, 2s. to 2s. 2d., preserved. Is. 4d. to Is. 6d. per-,dozen (scarce); bacon, factory sides 7d.. rolls Hi., hams 83d. per lb.; honey, 60's. 4d. per lb.-;'.'becswax,'le..'4d. tb' : ]s. 69. per lb.: fpngus, keen demand at 5Jd. por lb.; walnuts, 5Jd.;. tallow,-.tins,.2Zs. cwt;:' poultry, cockerels ss. 6d. for good birds, small'. 3s. to 3s. 6d., table roopters 45., table hens 3s. 6d., small 2s. to 2s. 6d.-. ducks,.' large Bp. to 65., small 3s. to 3s. 6d. per p;.ir: turkey gobblers 9d.,per Jb, hens Bd. por.lb. lh-o weight; maize, 4s. per bushel'; wheat. 4s. 2d. to 4s. 3d. per busliel; barley, feed 3s. 3d. per bushel,- Cape 3s. 6d. per burfip': horse beans, 48. 6d. to is.H. per bushel; partridge peas, 4s. 6d. to ss. per "bushel; Prussian blue peas, ss; 6d. per bushel; barley meal, special quality, £5 10s. per ton; sharps, £5 155.. per ton; pollaTd, £5 10s., per. ton; bran, £4 ss. to £4 10s. per tori; chaff,. oatenshoaf, £4 15s; to £5 03. per ton; hay, prime, £3 15s; to £4 per ton; straw, wheaten £2 10a. per ton, oaten £2 7s. 6d. per ton; linseed oil cake, genuine, £13 per ton; oats, feed 2s. 7d. to 2s. Bd. per bushel, seed, sparrowbills, cartons, duns 2s. 9d., Algerians 3s. per bushel, crushed 2s.- 9d. per bushel; maehinedressed cocksfoot, 6kd. to 7d. per lb.; farmers dressed cocksfoot, 6d: per lb.; per. ryegrass, 4s. 6d. to ss. per bushel; Italian ryegrass, 4s. 3d. to 4s. 9d. per.bushel.

■LOOAL MAEKET. CONDITIONS. . Messrs. J. B. IFEwan and Company report as follows :-Butter: The total of shipments from tho opening, of the dairy season, September 1, is 15,910 tons, as compared with 12,912.f0r tho same period -last season, an increase of 23 per. cent. Latest cables from the British markets say that prices are now 'gradually declining, although tho Arawa shipinent avcraeed from 1225. to 1235. Cheese: -ine total of shipments from the opening of tho dairy season, September 1, is 20,033 tons, as compared with 15,364 for the same period last season, an increase of 30 per cent. Latest cables advise that ■ best New Zealand brands were sellinK at 60b. to 61s.' Prospects for an advance are not so. favourable, but very little chaneo is anticipated, weather conditions continue seasonable, ana tho milk supply is : comparatively large.

LONDON MAEKET3. Messrs. Daleety ■ and Company, limited, report having received ,the followine cable messages from their London house, under date April 21:-Wool: The dates of our own sales are April 27 and May 4 and 11. At next series we expect prices for fine crossbreds and merinos to be firm, and for coarse crossbred wools to be rather easier. Sheepskins: Since our last advices, prices for merino and fine combing skins are 3d. higher, for clothing skins aro par to Id lower, and for crof9brods of other descriptions any change in prices is in favour of buyers. Frozen meat: Mutton and lamb are in very limited demand, with' prices Jα. lower. It is expected that if any chanpo in prices .takes place it will be in favour of buyers. Prices for beef, which is in but. limited demand, are weak at last quotations. . Tallow: Since our last wire low and inferior descriptions are from par to 3d. higher, but other descriptions aro unchanged. Messrs Murray, Hoberts and Co., Ltd. have received the following market cablegram from their Loudon agents, Me=srs Sanderson, Murray and Co., dated April 21:-taheepskins: Merino and fine crossbred fuU-woolled, market advanced 3d to Id.; crossbred coarse full-woolled. market unchanged to an occasional slight decline. Half-woolled market shows no material change ANTWEfeP WOOL SALES. By Telegraph—Pr'ees Association-Copyright _, . , • ' London, April 21. The Antwerp sales have closed. Prices for merinos and fine crossbreds wero unchanged. Ordinary crosobrods were neglected. Thoxmmiber bales of La Plata offered was\ 6704, of which 1747 slod.

SILVEE. s uSted! er is aaoua atM 946iL TCr OUDCO OAKTERBUEY GItAIJJ MARKET. (By TcloeraDh-Pro&a Association.) Cliristchurch, April 22 The grain market is dull,'cMopt for any really good linos of wheat and oats principally for seed purposes. Millers who arc ready to purchase nuitable lines are offerins only low prices, and, conw! quently, there is practically no business doing. Seed Carton and Algerian oata arc inquired for, and prices for these aro firmer. The dry season that has been experienced in North Otago and Southland has resulted in potato crops bcins of much better .quality and freer from blight than has been the case since thin scoui-BO (irst became .manifest. From these two ports considerable shipment'; aro being made to Auckland, some 3300 sacks, having gone last week. Locally yields axe rexy disappointing y

BANK OP ENGLAND RETURN. ByTcleeraph—Presa'Association-Copyrieht,

(Rec. April 22, 8.10 p.m.) . London, April 21. Tho Bank of England return issued for the week ended Wednesday, April 20, is as under:— Issue Department. Note lesue... £53,134,000 Gov. debt ... i11,015,C03 Othor Becuri- ■ '' 'tea ... 7,134,000 Gold .. 3-1.685,000 . '. £53.134,035 £53,131,000 BANKraa Department. Proprietors' Govt. securicapital .£14,553,000 ties 414,810.000 Public do- othor securiOther de- ■ -****" "° 3 **w> IlcatMay"'"' 26l,ooo NOtM ■" and other Coin i nil mn i 85.593.000 -. £68,203,000 The leading items of the Bank of Enslaufi return afford the following comparison:— . . This weok. Last week. Last year Bullion ... ..: 34,685,000 31,714,000 37^77,000 Ecsorve .. ... 25,151-2,000 23,621,000 28.8!I3,1)U) Note circulation 25,545,0C0 2H.658.0U0 59,075,000 PubhcDoposits P,503,000 10,058.000 U,731,'000 Other Deposits 41,261,000 43,053,000 45,128,000 Proportion of - reserve to ' liabiUtios ... 60.68 43.95 40.73 GOVEENMENT SEODEITIES.' The l following are tho'latest quotations for _ Government securities, with a comparison of those ruling last week:—

■ \ . BANK BATES OP DISCOUNT. Tho Bank of England discount rate was' raised on October 7 last from 2J to 3 per cent., on October 14 to 4 per cent., on October 21 to 5 per cent.; on December 9 was reduced, to 4J per cent., on January 6 to 4 per cent., on January 20, to 3J per cent., and on February 10 to 3 per cent On March 17 it was raised to .4 per cent., at which figure it still remains. '. The Bank' of France rate was reduced from 3i to 3 per cent, on-'January 25, 1908, and remains at the latter figure. ■ Tho Imperial Bank of Germany, on September 20, advanced its rate of/discount from 3J to 4 per cent., and .on October 11 to 5 per cent., lowered same on , January 21 to 4J per cent., and on February 10 to 4 per cent. MABKET BATES OF DISCOUNT. The following are tho market rates for best threo months' bills:— London" , Paris Berlin' • rate.. . rate- fato ■ ■ per cent, per cent, per cent. 'April 21 ...... 33 23 31 Last week ... 33-16 2i 3 Last year .... IJ. . .. 1J lg Short.loane in London are a J hiirher at 3j per cent. "'':'.■

COLONIAL AND OTHER, PEODUOE. Wheat.—Tho markets are flat and tending to a lower level. Sellers are aniious to effect sales owing- to beneficial rains'; in tlio United States winter wheat belt, and exceptionally., favourable seeding conditions there! and Canada, aid also .because of largo world's shipments: ."Holders of cargoes-:are prices, '-38s. 'is^asked for Australianvper steamer,- February shipment; 385.. 6d.per sailing shine, February and March; and 38s. 4Sd.. April-May shipment.. There is small inquiry. for Australian on spot at about 41s. A parcel of 30,000 quarters Yictorian per March steamer sold at about 38s. Now Zealand longberry afloat vainly offered at 355. 6d. c.i.f. Flour is-dull.- Australian patent. April. May shipment, held for 275.. 6d., sold for 295. 6d. , Oats are dull. Qartons. or: spot.: 18s. 6d. to ,215.; 6parrowbills;-185.,9d.. to ,J -20s. 3d.; La Plata, May-June shipment, 14s. 3d. Butter.—The market is weak .and declij: ing daily. Fine .warm weather'is causing anticipation of largo supplies being available shortly. Danish, 118 a. to 1205.; Aus : traliani choicest, HCs. to 1125.; New Zealand, '112s.'to'.ll'!sV as compared'with'l22s. and occasionally .1243. last week. . . ■ Sugar.—German' beet, 88flc;r., 2d. lower at 14s. 3d. per cwt.; first-mark granulated, f.o.b. Hamburg, unchanged at 16sl 7d. Bradford Tops.—The market is' cheerful, and prices aro unchanged. . . '■■ THE METAL MAEKETS. '■ Copper.-On spot, 10s. lower, at £56 15s. per ton; threo months, 10s. lower, at £57 15s.' -. ■ Tiri.-pn. spot,.3os. higher, at £151.55. per ton; threo months, 12s. 6d.' higher, 'at £152 ss.' ' '' ■'■ ■•'■■) ■•'■■ ■■•■■ -.'-"■■ .'■ -'■":■--• Pig-iron,. 3d. lower, at ; . 60s. -7d. per ton; Spelter, 12s. 6d. lower, ,at £22 7s, 6d. per ton. . .

Variations — Price compared " lce with •.« ■ ■ I __ iMt week. 2}% Imperial Consols 81 o o 2 e .6d. lower I* "Z^™1o 3 ? a: % nl 7 " 99 "° ° UuohangS ?l"y i f ,] iQ?< ; 4 T gJan ;"'5 uly , 86 10 » -Unchanged 8 ,,S.A. L)16 Jan.-July W 10 0 Unchanged Ii,,Q flWta.Ju|. 97 0 0 Unohtaiod * ...N.Z.l(B9May-NoT. 106 10 0 Unchanged 3i,.N.Z. 19 0 Jan.July 9712 0 UnchaS 3 ,,N.Z.19i'.AprU-Oot. 87 ]0 "0 7s. Bd.hicher S5,,\V.A.19aW0iray-NoT 97 15 0 -fis hleW 3 ,.W.A.1915J5May.Nov B7 if t> s, g& 3i „ Tas. 1940Jan.-July 99 0 0 10s htahor 3 .. l'a8.1g!IM0 Jan. JUy. 86 10 0 TJhchanaod