COMMERCIAL ITEMS.

Dominion, Volume 3, Issue 865, 11 July 1910, Page 10

COMMERCIAL ITEMS.

INVESTMENT SHAKES. A sale of Wellington Woollen prcfereneo at £2 10s. was recorded on Saturday. Bank of New Zealand, buyers £10 65.; National Bank, buyers £6 Is.; Equitable Building, buyers £9 55.; Metropolitan Building, buyers £12; Wellington 'frast and Lean, buyers £7 7s. 6d.j Wellington Deposit, buyers Bs. 3d.; Natioji-.il Mortgage, sellers £3 55.; Foilding Gas, sellers £1 25.; I'almerst-on North Ga.s biiyeru £7 155.; Wellington Gas, £10 paid, buyers £18 10s.; £6 15s. paid, buyers £13 12s. 6d.; new issue, fellers £2 iOe.; Gear .Maat, £4 paid, buyers i'lO Is.; £1 paid, buyers £2 13s. Cd.; Mca-t Export, third issue, buyers £3, sellers £3 os.; Acw Zealand Shipping, buyers £9 193., sellers £10 2s. 6d.; WcUlngton Woollen, preicronce, buyers £2 10s.; 'J'aupiri Coal, sellers 2k. 3d.; Westpon Cor.l, buyers .« lCs., rollers £6 155. : Lcyland-O'Hrien Timber, buyers £1 sa. 6d.; Taraualii Petroleum, sellers 11 s. 9d. : Tariugiimutu Tctara, buyers *1 7b. 6(1.

LONDON WOOL SALES. Tha London wool sales, the fourth of the series, begiu to-morrow (Tuesday) evening in Coleman Street, and this may be regarded as the clearing-iip rale of the past wool year. The market prospects as regards crossbred wool arc not very encouraging. There is no likelihood of a decline, at the , same time there is little hope of an advance. The Antwerp wool salts are not a reliable guide, but they <to indicate in a, way tho situation on the J'.uropoan Continent. The oil'crings wore mostly crossbred wool, for they consisted of aSMJ bales of La Plata clip, out of which only 483 bales sold. Prices receded from j _to 10 centimes, -and there wevo heavy witndrawals. Tho market at the moment is to some extent affected by the European and North American clip, which represents a vory fair outturn ol" wool. However, there.is evidence ilia* the industrial situation iu Great Britain is steadily improving, and while that is the rase, wool is bound to maintain its price. It is a remarkable fact that the cuormous increase in the Australasian clip has been absorbed without in the least disturbing values; indeed, valuer have ascended notwithstanding the. greater production. Wool coulinues to bo our best asset.

BEITISU BANKING. The "Economist," in its usual banking supplement, gives very interesting details regarding tho condition of banking in Cfvat ttritain during the past twelve mouths. Including tho Bank of England, tho current and deposit accounts of all the banks in the Kingdom on January 1 wore est iinated at between £9<0,000,U0 ana £950,000,000, or about £20,000,000 in excess oi the total reported a year previously, fhis portant coneidcrine. that the amalgamations have- done away witli much of the duplication which existed in the old days. Tho capital employed, amounted to £78,644,000, anil actually showed a decrease of £1,272,010, the decline being duo to amalgamations, especially that of the London and Westminster with the County, which of itself accounted for the movement. So far as profits aro concerned, forty-one banks showed a net profit for the year of £7,453,CC0, or about £289,CC0 less than the preceding vear. Dividends, however aro only reduced by £181,000. CUSTOMS EEVENTJE. Customs revenue collected at Wellington on Saturday amounted to £940 IBs. Ltd. The total for tho week was £10,250 os. lod., beer duty £214 7s.

FKILDING MARKET REPORT. Messrs. A. H. Atkinson and Co., Ltd., report a good demand for pigs at Friday s market, anil values steady at late improved rates. A good entry was forward, considering weather conditions, chiefly stores. Poultry was in medium supply, and of medium quality only, every pen sold well at higher rates' Sovernl good horsea were forward, but owners' reserves were ba-ruly reached. Wo quitted a discoloured lino of barley at 2s. Ltd. por bushel. Yi'hwtt sold at 13s. to 15s. per sack for host. Pis; potatoes arc Gelling freely, and tables at up to 13s. Quotations :—Pi?a, stores, 145., Us. 6d., 155., 15s. Gd., 165.; light porkers, 18s., 18s. 6d., 20r. 6t1., 225.; sows, to £2 12s. Poultry, at nor pair. Hens, 2s. 6d., 2s. 9d., 3s. to 3s. 9d.; cockerels, 3s. Gd.; roosters, 35.; gecc-3, ss. 6d.; p.b. drakes, 4s. to 7s. Gd. each. Pups. 2s. 6d. Produce: Cape barley, 2s. lOd. f> 3s. bushel; bran. ss. 3d. to 12s. to 15s. sack: totlia ferns, Is. 6d.; mountain palms, Is. 6d. to os. 6d.; pumpkins, 35.; table potatoes, 10s. to 135.; Mod do., 13s. 6d.; pig do., 3s. 9d.; onions, Id. pea , lb.; maize, 4s. Gd.; fa«tory bacon,, sides, ?d.; hams, 3}d. per 11). Second-hand bicycles, from ICs. to 22b. fid.

■tfessrs. Abraham and 'Williams, Ltd., report as follows:—At Levin, on Friday;* there was an average yarding of kllccp and cattle. Eidding at auction was brisk {or all classes bar breeding ewes. These dragged somewhat under the hammer, but tho whole entry, except one pen, changed hands beforo the end of the day. Quotations:—Fat wethers, ISs. Bd. to 19s. Zd.; forward wethers, 16s. 9rt.; store wethers, )3s. Id. to 13s. 3d.; Sal owes, 14s. 2i!. to 15s. to 15s. 5(1.j store cv.-es, 7s. 9d. to 9b. Gd.; hasgets, 11b. 6d.; ewes in lamb (mixed ages), 12s. to 12s. 9d.; others, Bs. 6d.; light fat tmllocks, is.; flit cows, £5 2s. Sd. to £7 18s.: forward cows, £3 15s. to £4 10b.; storo cows, £2 12s. Gd. to £3 10s.; springing hclfcris, £5 13s. 6d. to £6 15s. to £2 155.; cows at drop, £7 to £8 10s.; springing cows, £5 2s. 6d. to £6 76. 6d.; 2£-year steers, £5 12s. 6d. to £5 175.; vreaner heifers, 31s. to 325. Gd.

Messrs. Abraham nnd,.JVilliamii, Ltd., re-nott-»as follows-.—At our' Feildins pale on July 8 wo had a large yardiTig of sheop and a small one of cattle. Owing to the i'onc:h weather, sheep were not so keenly competed for as last weak, aud ased tivofi and cull hoggets showed a decrease in prices as compared with last sale. We quote:—Aged ewes in lamb, Bs. 10d.; fat owes, 12s. 4d. to 12s. Bd.; fat and forward ewes, 9s. lid.; mixed woolly lionets, 11s.; woolly owo hosgets, 12s. 2d\; mi\cd Ehorn hojgots, 65.-Id., 9s. 9d., 10s. 2d., 10s. 3d.; dairy cows, £3 to .£5 12s. 6d.; store cows, 30s. to £3; spr:«B>ljr hsifers, £5 ss.

BANK OF ENGLAND KETTJRN. By Teleeraph—Press Association—Copy rich' London, July 8. The Bank of England return issued for for week ended, Wednesday, July G, is as under:— Ibstjk Dep-ahtsient. Note lasue... £ 58,(iS6.IXXJ Gov. debt ... in 015 000 Other securities ... 7.43!,003 Sold ,„ io,W,Oii> £sS.f«,(m ■ £55,66ii,U» Banking Department. Proprietors' Govt. seouricapital £14,053,000 ties £17,970,000 Public de- Other securiposits ... 21,515,000 tioa 35,931 000 Other deposits ... 45,453,000 Notes ... 23,634 COO Ko6t, 7-day ami other Ooia ... _ 1,248,000 bills 3.465,000 X 84.955.000 ££4,081i,C00 Tho leading Heine of the Banlc of Eng. land return afford tho following comparison :— This week. Last week. Last year. ££ ' £ Bullion 40,337,000 «.2-:o,000 39,5 a 000 lteaerve 31,08i,000 3i14!1,0M a.aiiij COi) Note circulation 2J,55-'.UOO 26.e3i.uCM iiO.JS-'.Ctt) I'ublic Deposits -1,u18,00J 10.33\u0 Othor Deposits 45,4d3,(M) C0,46i,U00 0.500.U00 Proportion of li&bilHiou ... 46.40 42.77 48.62 GOVERNMENT SECURITIES. The following aro the latest quotation, for. aoveruuieut securities, with a comyM'ißon o£ those ruling laet week:—

Variations — compaiod Frieo. with last wook. £ e. i. ~ 2J% Imperial Consols 83 2 6 2e.6d. lowor i ~!5.5.W.1933Jan.-July 105 0 0 ss.lowor 31 ~N.S.W.MB..iiir.-Sop. W 10 0 Unclmu'-ed a ~N.BAV.MSA])I.-Oct. b8 10 0 Unclmnsed ■1 „ Vic. 1920 Jau.-July 102 0 0 Unchanged 3j ~Yic. llWl-liJiiu.-July CS 0 0 Uncnaused 3 „ Vic. lii29-43Jnn.-July S3 1U 0 Unclmnted Si ~b,A. IWO Jan.-July SM 7 U Unelmuiiod i ~S.A. UUJJuu.-July 8-10 0 Uncnan-od t ~yi, d lUls-2Uan.-Jul>- 103 0 0 Unchanged 31 ~QTiUi«4-3i)Jan.-Jiily S3 0 0 ss.Wuur 3 ~ Q'i'd ittivi-jTJan.-July 83 10 0 Unohau'od i ..H.Z.ISBUMay-NoT. 10li 10 0 Unchanged 3i „ N.U. 1910 ,fau.-Jaly SJT 10 0 IDs lii-bor a ~N.H. lM.'.April-Ocfc. i>7 10 0 Unchanged 3i,, \V.A.U)S)-il)May-Nov 07 10 0 10s liiuher 3 „ W.A.1015-Ssllny-Nov 8710 0 Unclmnsort 34 „ Tas. H«o.laii.-Jiily 98 10 0 Unchanged i ~'iIM.M MUJan.-Jury 86 0 0 100. bijjljor BANK KATES OP DISCOUNT. The Eank of England discount rate was raised on October V last from 1\ to J por ceui., ou October ft to 1 per cent., and on Octobur 21to 5 lioi'cent. On DeoeiiiirjrDH was reduced to 4« per cent.; ou January 20 to3i per cent., and on lVobniary II) to i [loreont. On Aiarch 17 it was again raised to <\ per ceut., on June 2 it v;as reduced to 3J doi , cent., and on Juno 9 to 3 por cent. Tlio Dank of Krancc rato was reduced troin 35 to 3 por cent, on January Zi, 1908. ami remains at the- latter ilguro. The Imperial Hank of Ocrniany, on September 20 last, advanced iLs rate from %■ to <1 per cent., and on October 11 to 5 per cent.; lowered s;inie on January 21 lo 11 per cent., and on February 10 to 4 MARKET HATES OF DISCOUNT. Tlio following arc the market rates lor bent three months bills:— London Paris Berlin rate. rate. rate. percent, por cant, percent. July 7 "1, 2 22 LasiT wcfik 2 MO . 2il 35 Last year 1 H 23 Short loans are quoted at II oer cent..

against 35 per cent, in the previous week, and 2i per cent, two weeks ago. COIiOKIAIj AND OTHER PRODUCE. Wheat.—The wheat markets are firm. Shipments are small, but buyers aro indisposed to tako distant cargoes, owing to the nearness of the harvest. The American visible supply is 23,101,000. Two Australian cargoes have been sold at 335. 9d. per quarter, and a third at 335. 7id. For Australian, March-April shipments, sellers want 345., and lor parcels ailoat, 335. A quiet trade is doing in Australian, on the spot, at about 375. September wheat is quoted at Chicago at 100J cents per bushel. Flour is firmer. The price is 265. 6d. in London, and the same is bid for JuneJuly shipment landed in Glasgow. Oats are lirm. Lα. Vlata. Jnly-AuEust shipment, 13s.

Butter !3 nmei, Australian is neglected, with prices unchanged. There is a fair demand for Siberian ai 98s. to ICOe nor cwt.

Ohoeso.—New Zealand white, 565. 6d. to 575. per cvrt.; coloured, 54a. Susar.-German beet. 14s. loa. per cwt.; first marks granulated, 16s. lCd. cases were offered, and ''239 I'otd, prices. Dark brown thrte-qnarter scraped, 925. 6d. to 935. The amount in stock is HO cases.

Wool.—The Antwerp sales closed with more business uoinpr. Prices nrc irrculir ™ lt th^.» t - en , dcncy is nnclianged. Of La sold Wer ° ofrCTed, nnd 16J7

The Bradford tops market is quiet and unchanged, awaiting ths opening of the London Eales.

THE METAL MARKETS

ton ead ' IS ' 3d ' loirer, at £12 lls ' 3d - W PiViron, lCd higher, at 495. 4d. per ton. ton unchanged, at £22 2s. 6d. per ounce er s randard UVer " WOt ° d at " cr LONDON MARKETS. By TelecraDh-Press Association-Ooprrlihl (Ecc. July 10, 5.5 p.m.) _ London, July 9 Hemp is dull, and is tending downwards. Gixkl fair grade, June-August shipment, is quoted at £22 ss. per ton. Copra i 3 in good demand, with a small offering. South Sea in bags is quoted at £22 ss. per ton.

Cotton.—Tho Liverpool quotation for American middling upland cotton is 7.51Jd. per lb.

Kabbits are seme, especially yonnE rabbit.s, and there if a good demand. Victorian, largo 15s. M., young' Us. 6d. to 14s. 6d.; Sydneye are nominally a shilling more.

liido sales., negotiated offerings withdrawn.

lather— There is an insignificant supply. Basils have declined.

FROZEN MEAT. ily TeleeriiDh-L'reos Association-ConyrlEhl (Ecc. July 10, 5.5 p.m.) i London, July 9. The Frozen Meat Trade Association's Smithfield market quotations for the undermentioned classes of frozen meat are based ou actual sales of not less than one hundred carcasses of mutton or lamb, and twenty-five Quarters of beef of fair average quality. The Quotations am not for selected linos, but for parcels fairly representative of tho bulk of the shipments now on the market. Tho oricea winch follow are on an averatre a farthing per lb. more than tiio valuo ei sbip, this difference representing an ateraßo cost in espouses, handling, conveyance, und sellius tho meat:— July 2. July 9. Mutton— <1. a Canterbury, light 32 33 Canterbury, medium 32 3S Oaai'fcornury, heavy 3 7-16 l& Southland - - Is orlli. Island, best 3S 3 9-16 North Island, ordinary... 3t 3 9-16 Australian, light 3J 7 Australian, heavy 32 Sfc •' liirer Plate, light 33 3g Itiver Plate, heavy 3f ■ 3} Lamb— Canterbury, light 57-16 •' 51 Canterbury, medium 53 5A Canterbury, heavy $h 41 Southland 5 5-16 55 North Island, selected ... 5 5-16 5J North IsUuid. ordinary ... 5J 51-16 Australian, best Hi 4J Austr.-ilinn, fair 1i) 4J Australian, inferior — — Kiver Plate ... -, - BecfNcw Zealand, ox fores ... 23 28 New Zealand, ox liinds... 38 3 5-16 Australian, ox fores 28 2* Australian, ox hinds 35 31 Eiver Plate, ox fores 23 l\ Iliver Plate, ox hinds 35 35 The Ncvr Zealand Loan and Mercantile Agency Company, Limited, have received the following cablegram from their' London house, under date July B:—"The market for mutton is weaker; lamb has declined, and it is glutted."