COMMERCIAL ITEMS.

Dominion, Volume 3, Issue 858, 2 July 1910, Page 8

COMMERCIAL ITEMS.

INVESTMENT SHARES.. The transactions recorded yesterday wero Wellington Gas, £6 15s. paid, at £13 12s. 6d., WcEtpart Coal at £6 lis.; Bank of New Zealand, buyers. £10 2s. 6d.; National Bank, buyers £6 is.; Equitable Building, buyers £9 55.; Metropolitan Building, buyers £12; Wellington Investment, buyers lis. 3d.; Wellington Trust and Loan, buyers £7 4s. 6d.; Wellington Deposit, buyers Bs. 3d.; New Zealand' and Biver Plate, buyers £2 Is.; Wellington Gas, £10 paid, buyers £18 10s„ t£6 155., paid, buyers £13 10s.; South British Insurance, buyers £3 2s. 6d.; Standard Insurance, buyers £1 4s. 3d.; Christchurcli Meat, sellers' £13 55.; Gear Meat, £4 paid, buyers £10 Is., .£1 paid, buyers £2 135.; Meat Export, £2 12s. 6d. paid, buyers £3; New Zealand Shipping, buyers £8 175. : 6d.; Wellington Woollen, ordinary, buyers. £3 ss„ preference, buyers •£2 9s. 6d„ sellers £2 10s.; Wcstport Coal, buyers £6 10s.; Leyland-O'Brien Timber, buyers £1 ss. 3d. ;■ Manning and Co., sellers £4 Is.; New Zealand Drug, buyers £2 9s. 6d.<; Shar-* land's ordinary and preference, buyers £1; Ward and Co., sellers £5. .

WHEAT FROM INDIA. India, as a supplier of wheat is the suoject of an interesting article in the "Economist" based on particulars furnished from official sources. Under present conditions India >is the least dependable supplier of the cereal. In good years her amount to enormous quantities, as in 1903,' when shipments reached 2,150,000 tons, whereas four years later exports were only 125,000 tons. India is one of the largest wheat .growers in the world, the area harvested this season being 27,710,000 acres, with a production 1 of 330,800,000 bushels. Far the most important district is the Punjaub, where about 10,000,000 acres are under wheat, cultivated by about 2,500 000 peasant proprietors and tenants. Thus the holding of each cultivator only averages some four acres, and many growers . possess much smaller plots. "Under such conditions, agricultural progress must necessarily be slow, as a man farming on such small areas cannot afford to take any risks, and. the methods employed leavo much to bo desired. A great deal of the wheat grown in India is produced on poor, unirrigated or unmanured land, and tho problem the Government has to solve is to find moans to secure a stable crop by artificial watering, in conjunction with manure and better varieties of wheat. As far as . marketing is concerned,. Indian wheat is seriously handicapped owing- to the large amount of foreign matter mixed with the grain. The cost of production. is at present very low, but, owing to ' the expense of transport, it only pays to export to Great Britain when the price in London is very much higher than it is in .the local market. The increasing cost of native labour too, is a factor that must bo reckoned with, and in addition the home consumption is on' a very large scale, especially in years of good harvests.

CUSTOMS REVENUE . ' Customs revenue collected at Wellington yesterday amounted to £1790 18s. 9d. ' WELLINGTON MARKET REPORT. Tho New Zealand Farmers' Co-operativo Distributing Co., Ltd., reportßusiness in potatoes and onions is dull, with no alteration in prices from last week. Vegetable?, aro in good demand, cabbage and cauliflpwer of. choice quality being specially inquired for. Fruit is unchanged, except apples, which show a slightly lower tone in value. Eggs continue to fall in price, and preserved lines aro hard to quit. Porkers are in particularly keen demand; and we expect to reach sd. during the coming week for best lines. N Wo have -an unlimited demand, and can stroiiffly 1-ecommend consignments. Honey is m good supply, and quick sales are difficult.. Our recent sale of pure-bred poultry was largely attended, and prices realised satisfactory. Potatoes: Prime TJp-to-dates, £7 to £7 10a. per ton. Onions: £4 to £4 IBs. to £7 10s. per ton. Potatoes, seed: Specially selected Canterbury Up-to-dates, £7 per ton. Pickling Onions: 7s. cwt. ■ Garlic: 3d. per lb. Cabbage: Choice, 4s. Cd. to ss. 6a.; ordinary, 2s. to 3s. per saclt. Cauliflower: Choice, Bs. 6d. to 12s. 6d.; others, 3s. to ss. per sack. Carrots: Ilutt, Bd. dozen. Turnips: White, 9d. dozen. Swedes. 2s.' fid. per sack. Vegetable marrows: 2s. 6d. per sack. Pumpkins:, 2s. 6d. to 4s. sack. Pie-melons: 3s. per sack. Lettuce: Choice, 4s. 6d. to ss. 6d.; fair, 2s. 6d. ■to 3s. per caso. Spinach: Best, 3s. to 4s. per case. French beans: Bs. Gd. per half sack. Spring onions: 6d. dozen bundles. Apples: Cookers, large, 4s. to 55.; small, 2s. to 3s. 6d. case; dessert, well coloured, 7s. to 9s. 6d.; others, 4s. to ss. 6d. per ease. Pears: Dessert, 10s. to 15s. 6d.*; cookers, large, 4s. 6d. to ss. (id.; small, 3s. Cd. to 4s. per case. Grapes: Best Jiutt, la. 6d.;*bost Nelson, Is. 3d. per lb. Butter: Separator, 10d.; dairy, 9id. per lb. Oheese: Best factory mediums, sid. per lb.; loaf, 7d. per lb. Dressed pork: 70's to 90's, 43d.; 90's to 100's, 4Jd.; baconers, 4d. to 4,id.; choppers (heavy), Z-Jd. Eggs: Fresh, Is. 4d.; preserved, Is. per dozen. Bacon: Factory sides, 7d.; rolls, 7Jd.; hams, 83d. per lb. Honey: 4d. to lid. per lb. Beeswax: Is. 4d. to Is. 6d. per lb. Fungus: Keen demand at 5Jd. per lb. Walnuts: sd. to sld. per lb. .Tallow: Tins, 225. per cwt. Poul--try: Cockerels, ss. 6d. to 6s. Gd. for good birds; small, 3s. 6d.; table roosters, 4s. to 55.; table hens, 3s. Gd.: small, fo. 6(1., ducks, large, ss. to 6s. fid.; small,' 3s, fid. per pair; turkey gobblers, 9d. per lb.; liens, Bd. per lb. live weight. Maize: 3s. 6d. per bushel. ' Wheat: 3s. 9d. to 4s. per bushel; seconds, 3s. 4d. to 3s. 6d. per bushel. Barley (feed): 3s. 3d. per bushel; Capo, 3s. Gd. per bushel. Horse beans: 4s. Cd. to 4s. 9d. bushel. Partridge peas: 4s. 3d. to ss. per bushel. Prussian blue peas: ss. 6d. per bushel. Barley. meal: £5 10s. per ton. Sharps: £6 15s. per ton. Bran: £4 15s. per ton. .Chair: Oaten sheai, £5 to £5 15s. per ton. Ilay: Prime, £3 16s. to £5 bs. per ton, Straw: Wlieaten, £2 10s. per ton; oaten, £2 7s. 6d. per ton. Linseed oil cake: Genuine, £13 per ton. Cocoaunt oil cake: Bs. per cwt. Oats: Feed, 2s. 6d. to 2s. Bd-. per bushel; seed, Sparrowbills, Gartons, Duns, Bs. 9d.; Algerians, 3s. 3d. per bushel; crushed, 2s. ■ 9d. per bushel.

The New Zealand Fruit and Produce Co. report:—Potatoes arc very much.firmer, and prices have _ risen considerably. A good demand exists for clean samples. Cauliflowers are still ia keen demand,

other vegetables remaining practically the same. A much better demand Is bcinp experienced for fruit. The follow'iug will lihow the pi-lees realised during ihc week: —Potatoes, 6s. to 7s. ewt; onions, 4s. to 4s. 6d. ewt.; swedes, 2s. cwt.; turnips, 4s. bd. to ss. Gd. sack; carrots, 3s. to ss. sack; parsnips, 6s. to Bs. 3d. sack; beetroot, 3s. to 4s. 3d. sack; cabbage, 3s. 9d. to ss. 6d. sack; cauliflower, 9s. to 14s. sack; lettuce, 2s. to 3s. 6d. case; spinach, 4s. to ss. case; pumpkin, 3s. to 4s. sack; inarrowß, 2s. to 3s! sa-ck; kuineras, Bs. 6d. case; apples (cooking), 3s. to 55.; apples (dessert), 7s. Vfl. to 95.; passion fruit, 7s. to 7s. 6d.; oranges (Island), 6s. 6d. to 95.; pears (cooking), 6s. to 75.; pears (dessert), 13s, to 15s. 6d.; bananas. 15s. to 18s. 6d.; pines, 12s. to 135.; lemons' (Messina), lis. 6d. (150); lemons (Sydney), 6s. to 75.; mandarins, 7s. to Bs.; Sevilles, 4s. to 55.; eggs (fresh), Is. &d. dozen; eggs (preserved), Is. Id. dozen; chaff, £5 to £5 155.; oats, A grade Gartons, 2s. Bd.; bran, Bs. 3d. sack; wheat, 4s. to 4s. 3d. bushel; straw, 2s. to 2s. 3d. bale; rice, 6s. Gd. (561b.) mat; pollard, £6; ducks, 4s. 6d. to 6s. pair; peanuts, 235. sack; hens, 3s. to 3s. 6d. pair.

BANK OF ENGLAND RETURN.' By Telegraph—Press Association—Copy rich*. (Rece. July 1, 9.10. p.m.) London, July 1. The Bank of England return issued fox the week ended Wednesday, June 29, is as under:— ISSUE DEFAimrENT, Nololsbuo... i 59.669.000 Gov.debt ... i 11,015,000 Other securities ... 7,434,000 Gold 41,2^0,000 £59,669,033 £59.660,MG Banking Department. Proprietors' Govt, securicapital £14,553,000 ties £17,974,000 Pubtio de- Other socuriposits ... 24,662,000 ties 42,632,000 Other dopositß ...50,461,000 Notes ... 30,972,000 Rest, 7-day aud othor Coin... 1,177,000 bills 3,059,000 £02,755,000 • £92,755,000 The leading items of the Bank of England return alford the following com* pariaon:— This week. Last week. Last yeay Bullion 11,220,000 41.7*6,000 39,572,000 Reserve 33.855.U00 29,^1^0(30 Note circulation 23.1)97,000 i! 7,634,000 30,210,000 Public Deposits -J4.6b2.000 27,ti70,C00 12.312.000 Other Deposits 50,461,000 40.017,000 58,194,000 Proportion of reservo to liabilities ... ' 42.77 49,85 41.40 GOVERNMENT SECURITIES. The following are the latest quotationi for Government securities, with a com. parison of thoso. ruling last week —

BANK BATES OP DISCOUNT. . The Bank of England discount 7ate was raised on Octobcr 7 last from 21 to 3 per cent., on October 14 to 4 per cent., and on October 21 to 5 per cent. On December 9it was reduced to 4J per cent.; on January 20 to3l per cent.7 and on February 10 to 3 per ccnt. On March 17 it was again raised to 4 per cent., on June 2 it was reduced to 31 per cent., and ou June 9 to 3 per cent.

The Bank of i-'rance rate was reduced from 3! to 3 per cent, on January 20, 1908, and remains at the latter ilgure.

The Imperial Bank of Germany, on September 20 last, advanced its rate from 3* to 4 per cent., and on October 11 to 5' per cent.; lowered same on January 21 to 41 per cent., and ou February 10 to' 4 per cent. '

MARKET BATES OF DISCOUNT. The following are the market rates for beai. mi'ee mouths' bills:— , London Paris " Berlin rate. rate. rate. > per ceht. per cent, -per ccnt. June 30 21-16 2S 31 Last week 21 2J 33 Last year 11 18 23 Short loans are quoted at 31 per cent., aB against 21 per cent, last week. COLONIAL AND OTHER PRODUCE. Wheat.—The markets are firm under the influence of. unfavourable crop reports from the United States and Canada, which have caused much speculation. The European crop .prospects are excellent, making buyers cautious. Two Australian cargoes sold at 335. 9d. and 335. 4Jd. per. quarter tively. Holders are asking 335. 7id. for off coast, while 335. 3d. has been paid for a parcel afloat. There is a rather better demand for Australian, on spot, at 345. 6d. to 355. New Zealand tuscan, 325. to 335.. 6d.

■ Flour is dull. Australian patents, on spot, 255. 6tV.; on passage, 245. 6d. Oats are dull. Gartons 175.6 d. to 195.6 d., Sparrowbills 17s. to 18s. Gd. There is no c.i.f. business doing owing to New Zealand prices being above London level. La Plata, JuneJuly shipment, 12s. 9d. Butter is dull. Colonial is neglected. Australian is unchanged. Choicest, New Zealand, 108s.; Siberian is in plentiful supply; choicest, 965. to 100s. , , Cheese is dull. Coloured New Zealand, 545. to 64s'. 6d.

Sugar .—German beet, fiGdeg., s£d. higher, at 14s. lid. pex* cwt.; first-mark granulated, f.o.b.'Hamburg, 2d. higher, at 16s. lid. Bradford Tops.—Better business is doing. .Forties,-Mid.j forty-sixes, 16Jd. f • both.being a farthing lower; common sixties, unchanged. at 28d.; super sixties, unchanged, at 295.; sixty-fours, unchanged, at 29* a.

THE METAL. MARKETS. Copper.—On spot, £54 2s. 3d. per ton,; three months', 3s. 9d. lower, at £55 ss. Tin.—On spot, 475. 6d. higher, at £150-15s. per ton; three months', 325. 6d. higher, at £151 ss. • Lead, 2s. 6d. lower, at £12 12s. 6d. person. Pig-iron, Bd, lower, at 48s. 6d. per ton. Spelter, £22 2s. 6d. per tou. — fl LONDON MARKETS. The New Zealand Loan and Mercantile Agency Company, Limited, have received the following cablegram from their London houfle under date June 30:—Wheat: An Australian cargo haa been • sold at 335. 3d., c.i.f. There is very little demand, owing to unfavourable crop reports, and market prospects in America are fluctuating. Oats: Cartons are quoted at 17s. 6d., and Sparrowbills at 16a. 6d. The -market is quiet, but steady. Sheepskins: Tho market ha 9 a downward tendency.

WELLINGTON FAKMERS MEAT COMPANY. FIHST ANNUAL MEETING. (By Telegraph.—Press Association.) , Mastorton, July 1. Tho first annual meeting of shareholders of the "Wellington Fanners' Meat Company was held this afternoon. , The report of the directors, the auditors' report, and the balance-sheet were adopted. Messrs. F. B. Lowes (liongomai) and J. E. Franklin (Titree Point) were elected directors. • The honbrarium of the chairman of directors was fixed at £550 per year and expenses, and other, directors were voted ordinary travelling expenses. Messrs. Badham and G. W. Sellar were elected auditors. ■ A motion to raise the qualification for tho directorate from holders of five to holders of twenty ordinary shares • was defoated.

KAURI TIMBER COMPANY. HALF-YEARLY MEETING. By Telegraph—Press Association—Copyright. Melbourne, July 1. The half-yearly meeting of the Kauri Timber Company shows that business was well maintained. Sales showed au improvement over those of the corresponding halfyear After careful consideration, the directors decided to adhere to the system of annual dividends instead of half-yearly.

TARANAKI PETROLEUM COMPANY. (By Telegraph—Press Association.) New Plymouth, July 1. The weekly report of the Tarauaki Petroleum Oomiiany's directors is to the effect that the results at No. 2 bore continue vory gratifying, M barrels being saved' from Friday to Friday, and there could have been more Rived if the plant had been working at night. The directors will ask the Government to allow Dr.. Bell, Government Biologist, to again visit tko district during the next few weeks in order to again report on the field. The circulars issued with reference to preference shares are bringing excellent results from shareholders. No further negotiations will bo conducted in reference to tlie sale of the oomtiany'B proDertica until

the time for receiving shareholders' replies has expired. The directors have been asked to forward copies of the circular to London. It is considered that the very large supply of natural gas ami the value of the oil as fuel will greatly enhance the prospects of the iroiisand industry. Its utility in smelting iron for stool cannot be exaggerated.

Variations _ computed Prico. with ; last week. ' £ b. d. 2J% Imperial Consols 82 5 0 7s.Gd. lower 4 „tt.S.W.1933Jan.-July 105 5 0 5s. higher 3$ ..N.S.W.igiS-aaivSop. yy io 0 Unckaugod 3 „ N.S. \\\ 11/35 Apl.-Oeti. 88 10 0 Unchanged 4 „ Yic. 1920Jau.-July 102 0 0 Unchanged 3i „ Vic. 19-.J1-6 Jau.-July 0 0 Unchanged 3 „ Yic.iyiO-4'JJan.-July 85 10 0 Unchanged 3i „S,A. li»16 Jau.-July OS 7 G Uuchangod 3 „ S.A. Idl6 Jan.-July 84 0 0 Unchangud * „Q'rdiyi5-24Jan.-July lCh2 0 0 Unchanged 34 ,, QTdlU-24s«Jan.-July tfT15 0 5s. higher 3 „ Q'l'd 85 10 0 Unchangod i „N.Z, 1929May-Nov. 10(310 0 Unchanged ai „N.2. 1910 Jan.-July 1)7 0 0 lOs.highor 3' „ N.Z. 1915 Aprii-Oct. 87 10 0 2b. lid, higher 34 „ W.A.HMMO Alay-Nov 97 0 0 Unchanged 3 ,, W.A.iyio-!i5May-Nov 87 10 0 Unchanged 34 Tas. l&40Jan.-Juiy 98 10 0 10s. higher 3 1920-40 Jan.-July 85-10 0 Unchanged