COMMERCIAL ITEMS..

Dominion, Volume 3, Issue 879, 27 July 1910, Page 8

COMMERCIAL ITEMS..

INVESTMENT SHARES. . There appears to be a very strong movement in Bank of New Zealand shares, sales being made yesterday at £10 16s.'and £10 17s. On' July 4 a sale was made at £10 7s. 6d., so that in about three weeks there has been an advance of nearly lUs. per share. "At present prices the-return to the. investor is, approximately ■ £3 17s. per cent., and the improvement- in the market-value of the shares cannot be due entirely to the .prospect of an increased dividend' next .year. < -At- most,' the ' increases would- not- be .more than 2J per cent., bringing the dividend - on ordinary shares to 15 pel" cent., and the return to the investor on this rate would be about £4 12s. 3d. per cent. The quotations, together with the last sales, are as under :— . Buyers. Sellers.' ' Sales. 1 • £ s. d.' £ s. d. £ s. d. Bank N.Z ....10 16 6. 10 18 6 10 17 0 Equitable Bldg ... 9..10 0! — - Metropolitan Bldg 12 0 0 — — , National Mortgage 3 3 6. — — Loan and Mercan-' ■ :■ tile '. — ,0 12 6 — Wellington Deposits 8-3-. 1 , ; —. — Feilding Gas ..:... ' — . - 1:2.0 - Napier Gas (£10)... — . 25 0 0 — . Wel'gt'n Gas (£10) 1810 0 - - Wellington Gas . . (£6 155.) 13 12 6 - - ' Wellington Gas (new . issue), prom. .... — 210 0 — Christchurch Meat 13 0 0 — — Gear Meat (£4) ....10 5 0 — —i Gear Meat (£1) ... 2 14 0 ' - - Meat Export (£5) 6 0 0 — — Meat Export (£4) 5 0 0 — — Meat Export (£2 . 12s.' .6(1.) ...; 3 7 6 - . - N.Z. Shipping ... — 10 3 0 — Union Steam 115 0 — — Wellington Woollen lord.) 3 5 0 - - Wellington Wool- ■ ■ • ■ len (pref.) 2 11 0 2 IS- 0 - Taupiri Coal 10 9 — — Westport-Stockton 0 6 9 ■ — — Kauri Timber (155.) 0 17 0 — '— Leyland-O'Brien 16 6 17 6 —. N.Z. Drug 211 0 - - N.Z. Paper Mills 1 2 3 12 9.Sharland's pref. ... 1 • 1 0 — — Taranaki Pctrol'm 0 8 0 011 0 ' — Taringamutu i Totara 18 0 — - '. ' AMERICAN BONDS IN PARIS. . , American railroad bonds are being issued in large numbers in the French market through tho French ■ bankß, and while the operation will afford considerable relief to- American finance it is likely to cause some trouble in Paris in the autumn. The French banks manipulate these bonds very simply, and get them out amongst customers very readily. The whole business is done with such a total absence of excitement or' bustle that the uninformed stranger would come to ■ the. conclusion that French branch banks did their business in a very leisurely way. A customer walks in, talks with the manager, or with one of his assistants, .for a few minutes, considers the prospectus which has been handed to him, and signs a subscription form for five or ten or fifty or even a hundred of these 100 dollar bonds. The great joint stock banks in Franco attach as much importance to a bank manager's capacity for placing stocks in which thcyj arc interested as thev do to his possessing a knowledge of banking business proper, and bank officials receive a very small commission on the stocks which they dispose of. Years of training, therefore, have taught most French bank employees exactly what to say t:> a customer, and how to say it in as brief a manner as possible, with a -view to inducing him to become a subscriber. Different

on at. ss. lid., and Waihi Extendeds at 3s. 2d. Grand Junctions experienced a flight recovery, being dealt in at from *Us. to 41s. 9d. to 41s. 6d. to 41s. 9d. Late buyers offered 41s. M., with sellers at 41s. 9d. Talismans likewise improved, the sales registered- were at 535. 9d. and 545., and

CUSTOMS REVENUE. Customs revenue collected at Wellington yesterday'amounted to £2284 15s. Id.

■ TRADE IN ALLEN STREET. Fruit.—The Mokoia is due from the Cool! Islands to-morrow with consignments of oranges and bananas, which will reach a bare market, and should, therefore, realise satisfactory prices. ■ The TJlimaroa is due from Sydney to-day with further supplies of mandarines, pineapples, passion fruit, and oranges. The last consignment of Fiji bananas was transhipped at Auckland. The fruit on arrival was found to bo dark in colour, due no doubt to the exposure to cold weather; the bananas were on the small side also, and low prices had to be accepted to quit. Tasmanian Apples—Heavy shipments of dessert apples are arriving weekly, and prices continue low.

Cooking Apples.—The supplies are mainly from the Motueka district, and prices range, from 4s. 6d. to 7s. 6d., according to quality.

Vegetables.— Cabbages show an advancing tendency, and up to 9s. has been obtained during the week for first-class quality. Cauliflowers meet with good competition, and consignments'arc recommended. Celery also is in. good demand, at from-25.. to 3s. per dozen. Lettuce, prime heavy is wanted at' 4s. 6d. to ss. 6d. pen case. Parsnips range from 7s. to 9s. per case. Onions—The bulk of the supplies now being marketed are Victorian grown, and rule at £6 10s. to £7.

Potatoes.—Good table potatoes are in excellent demand, at £7 to £7 ss. per ton; for seed potatoes, the quotations are £6 10s. to £7.

Butter.—Prime lump is in good demand at lOd. to 105 d. per lb. Eggs.—The supplies of fresh are barely up to the requirements of trade, and are now quoted at Is. 6d. per dozen'; preserved, Is. Id. to Is. 2d.

Hams . and Bacon.—The consumption is affected through the higher prices ruling for eggs.

Fungus.—Prime dried meets with keen competition at SJd. per lb. , Flour.—The bulk of the business is now in New Zealand flour. Very little Australian is changing hands. Itolled oats are meeting with very keen mniiiry.

Jiaize — Owing to the low prices now ruling sales are increasing. Fowl wheat.■'continues firm, at 3s. 7d. to 3s. 9d., ex store, Wellington.

LONDON FRUIT PRICES. Mr. AV. Brown, of Messrs. -Laery and Co.', Ltd.,' who is now in London, writing to his firm, under date June 14, give 3 the following as the then current retail prices in Oxford Street:—Peaches, six for. 10s.; nectarines, six for 6s. ;■ strawberries, about 1-3 of a lb. for 35.; grapes, 111).. for 6s. ' Mr. Brown says that the fruit nnd the packing are excellent, and that Nevr Zealand has much, to learn in this respect. LONDON WOOL SALES. By Telegraph-Press Association-Copyright. London, July 25.. At the wool sales thero was strong competition at full rates. (Bee. July' 26, 11.20 p.m.) London, July 26.-. At. the wool sales the following prices were realised for New Zealand clips:— "Titi," top, 12d.; average, lljd. "Aparima," Uld. and llgd.' . "Daputone," 19Jd. and 17d. THE METAL MARKETS. By Telegraph—Press Association—Copyright. (Eec. July 26, 10.25 p.m.) ; . '. London, July 26. Copper.—On spot, £54 7s. 6d.; three months, £55 Is. 3d.; electrolytic, £57 10s. Tin.—On spot, £149 2s. 6d.; three months, £150 15s. ' • ' CANTERBURY GRAIN MARKET. (By TelcgrapH.—Press Association.) . , Ch'ristchurch, July 26. _ There/ is still an inquiry for prime milling wheat, and, unweathcrcd samples will command prices above Quotations. Some large lines have lately changed hands in the Ashburton district, but locally there is not much offering, and sellers and buyers are several pence different in their ideas of value. Velvet is chiefly inquired for, and unweathered samples will command higher rates than any other description. The oats market is without change,' and no business is reported. There is not much doing in chaff, and the fact that the sailer Jessie Craig has arrived at Auckland withjJol]p l t,pDs.„Qf.;fodder from Melbourne has eased the demand from the northern district. Potatoes remain at about late rates. Offerings may be expected to increase when the 'weather clears up. An inquiry is setting in for grass seed for spring sowing. Italian ryegrass appears to be scarce, and is in good demand.