COMMERCIAL ITEMS.

Dominion, Volume 4, Issue 1026, 16 January 1911, Page 8

COMMERCIAL ITEMS.

INVESTMENT SHAKES. A fair business was done in bank sliarts on Saturday. Bank o! Xcw Zealand chanced hands at £10 13.1. 6d. and £10 145. ; and National.Bank at £5 14s. A sale oi National .Insurance shares at 345. M. was also recorded.' Tho quotations wero as under:— .. Buyers. Sellers Rale? ■£s. d. £s. d. £s. d. National' Bank —513 6 — 514 0 Bank of N.Z. „ ~ 10 14 0 1014 0 Well. Investment...'oll 0 — ■ . Well. Trust and • • • Loan . ' 9 Christehurch Gas 910 6 —' Well. Gas (£-10) 19 2 6 - - Well. Gas (£6 155.V13 15 0 - - National Insurance - - 114 1 South British' ...... 3 5 0 — — Gear Heat (£1) ... 3 1 6 — Meat Export {52a. 6d.) — 3 4 0 — N.Z. Shipping —, 11 HO — Well. Woollen (ord.) 315 0 — — Taiipiri Coal :.. 10 6 — — D.1.0. preference ... — 13 6 — D.I.C;, prof.' - — 13b' — Leyland-O'Brien . 17 0 — — Miramar,' Ltd ■ — 02 6 — N.Z. Con. Dental ... 1 2 6 — — EQUITABLE BUILDUCG. Tho balance-sheet of the Equitable Building and Investment Company of Wellington for the -year 1910 shows a credit at profit and loss of £10,137 14s.* ■ The dividend fo- tho year, at tho rate of 10 per cent., absorbs £5980 Bs. 2d. The sum of £25C0 has been added' to the reserve fnnd, and there remains a balance of £1657 ss. ICd. to bo carried' forward. The paid-up capital of the company is £60,0G0, and tho reserve fund r.ow stands at £60,QC0 also. Deposits and interest on deposits total £333,654 13s. 7d.; amount duo National Bank. £512 6s. 7d.; sundry creditors, £1365 2s Ed. Tho credit side shows mortp.igoa and interest. £341,960;' freehold business nremises. £10,000; deposit with National Bank, £10,000; and sundry debtors, £393. The income from interest amounted to £10,013 'a. Sd., . and tho . incomederived otherwise than from mortgages totalled £S4l lis. Tho general cr.pchseo totalled r.iw and taxation and iicenso absorbed £525..

LONDON MONEY MARKET. The London money market is not anito 50 satisfactory as one could wish. A year ago (011 January 6, 1910) the bank rato was reduced from 4J per cent, to 1 per cent., 'mt, this year, the bank finds it convenient to maintain tho rate at <5 per cent. The lianl; figures generally are not quite so satisfactory as tUey were twelve months aco Tho Bold coin and bullion la. considerably less, and so ia the . reserve, and so also arc t.he other deposits. Compared with a week ago. the lart-named show a decrease of 'nearly mile millions sterling which is a rather unusual shrinkage. Another remarkable feature •!?. that the open market rate is higher in London' thau in Ilorlin, a,n<l this seems to indicato the scarcity of credits. Short loans hfl-ve ad-; vnnced from 25 to Si per cent, during the week. The demands for money liavo been very pronounccd during the past twelve month's, and it. is not unlikely that the. pressure is being maintained. In almost every country extensive public works are 1

in hand or prejectcd, and London is pected to finance all these undertakings. There does not seem any ' likelihood of money being much cheaper than it is at. present. The bank rato will bo reduced to -1 per cent, very shortly, but yhcthcr it will go lower than that before the European summer is very doubtful. LONDON WOOL SALES. . Tho first of the series of London wool Rales for 1511 will begin in Coleman street to-morrow evening, and from ail the evidence" available it is not • difficult to predict a general decline of 10 per cent. It will probably be more for some descriptions of wool. Merino wools are certainly weaker. They failed to maintain their position at the Antwerp sales, and the Bradford top market shows that the tendency •in Yorkshire is towards weakness. Coarso wool tops arc lower by a halfpenny per lb., and the value of tho raw material must be adjusted accordingly. Tho market has this year to struggle with a greatly increased production ol wool, and wero it not for the fact that the American market is suffering from a depression, the increased output .could he very easily absorbed, but unfortunately: American buyers are, more or loss, mere spectators at the sales, and there is, no, hope of any immediate improvement. The position on the Continent is sairl to «bo unsatisfactory, consequently ' tho burden of supporting the market is thrown upon Yorkshire. . NEW YORK LIFE INSURANCE CO. Tho chief office for Australasia of tho New York . Life Insurance Company is in receipt of cabled advices from tho homo, office of tho company in New York to the effect that at the close of business on December 31 the market value of the assets of tho company eicecded £100,4C3,000, an increase during the year of over £7,250,000. Tho amount of new business paid 'for during tho year 191(1 was over £52,063,000, exceeding that for 1909 by over £2,054,000. PUPONGA COAL COMPANY. 1 The operations of the Puponga mine last year were very satisfactory. The mine was worked for tho whole of tho working days of tho year, cxcept on two days, when stress, of weather prevented boats entering the harbour and mining operations wero i suspended, and again for seven hours through failure of machinery. ! Tho total output of. coal for tho year was 30,373 tons, as compared with 36,686 tons in 19G9, thus shoeing an' increase of : 13,667 tons. The average number of men employed was 73, as against 64 in 1909. The total quantity was 53,607 as I against 11,654 tons in 1909. an increase oi I 9153 tons. During the year 17 accident*? I of a minor character occurred,, and there ! was also. ono fatal accident. 1 To-cope with the water in the lower i levels a, new duplex Tangyo nump was installed. ' This pump has a capacity of 10,CCO gallons per hour. The lov;or levels I are reported to bo op'oning out well, a I .body of very baTd bright coal,Bft. thick | is showing 1 , and is superior to anything ■ seen in the mine previously. CUSTOMS. The' Customs revenue collected at the port of Wellington' on Saturday last totalled £3126 19s. 7d., the amount for : the week being £24,024 10s. 9d. Compared • with the corresponding periods' of the 'previous year, the receipts for the pact eight weeks are as under:— 1910. 19C9. • £ £ I November 26 13,995 10,211 I December 3 19,249 16,270 ■ December 10 12,969 12,305* 1 December 17 ,21,367 17,374 1 . December 24 ' * 13,923 ' 11,629 December 31 11,930 10,996 1911. 1910. January 7 8,143 10,£99 January. 14 24,024 17,698 Tho- beer duty for the week totalled £205 143., as compared with £315 17s.' in the corresponding week of last year, FEILDING MARKET REPORT. . , Messrs. - A. H. Atkinson , and' Co., Ltd., at their usual Friday's market at Feilding, had a. heavy penning of poultry, some ,300 birds coming, forward. Quality apd condition were wanting in most of tnc lots offered.' Pips sold irregularly with, limited competition for anything except forward sorts and porkers. Potatoes wero in full supply, and wero easier .in pries. Fruit and produce lines wero forward in quantity. Quotations :-Pigs: Woaners and slips, 45., 75.; 10s. 6d., to lis.; stores, 145., 16s. 6d.; porkors, 205., 225., 245., 275. 6d. Poultry (at per pair), hens, Is. 6d., 2s'., 2s. 3d., 2s. Gd., 33. 3d., to 45.; cockerels, Is. 9d., 25., 2s. 9d.; roosters, to-35.; chicks, Is., Is. 3d.,, to Is. 9d.; hen chicks and ducklings, 35., 3s. 3d., 4s. 6d., to 5a.; geese, 55.; ducks, to 3s. Bd. Potatoes, 45.,-65., to 7s. per cwt.; cabbage, 23.; oucumbcrs. Is., Is. 6d., Is. 9d. per quarter-case; plums, Is. 9d. to 2s. 9d.; tomatoes, 3s.'; onions, 2d. FRUIT AND PRODUCE REPORT. The New Zealand Fruit and Produce Co., Ltd.,. report transactions for last week as follow:—Good businc&3 is doing in both vegetables,.and fruit, the prioes for both keeping good all round.-' Black currants, • raspberries, . and' greengages arc eagerly inquired for. * The following are the prices ruling in .our markot:—Fruit: Oranges, 15s. to 20s. per case; mandarins, 20s. to 235. per case; lemons,..7s. to ICs.' per case; pines, 12s. to 14s. per case; passion, 15s. to 16s. per'box;.bananas, 10a. to 14s. per case; strawberries. Is. 2d. to 13. 6d. por bos; tomatoes, 3s. 3d. to 4a. 3d. por case; cherries, 10s. 6d. to 12s.- per'. box 241b.; gooseberries,' 3s. to 4s. 9d. por case; apricots, 3s. to 4s. 6d. por case; peaches (cooking), 2s. 9d. to 3s. per ease; peaches (dessert), ss. 6d. to 7s. per case; black ; currants, 7s. 6d. to 9s. 9d. per case; plums (cherry), Is. 3d. to 2s. 6d. per case; plums (dark),-ss. to 63. per ease. Vegetables: Now potatoes, 43. 6d. to 6s. per cwt.; onions (Australian), 6s. .to 6s. 6d. per cwt.; cabbage, 3s.' to 4s. per sack; cauliflower, su. to 7s. per sack; carrots, 2s. fid. toi 43. per. sack; turnips (white), Is. fid. to 3s. per Each; pea 3 (12 pecks). 6s. to 9s. 6d. per sack; French beans. .3s. to 4s. per sack; rhubarb, 2s. per dozen; broad'beans, lid. per lb.; lettuce, 2s. to 4s. 6d. per case; soinach. Is. 6d. to 3s. per case; walnuts, 6d. to 7d. per lb.;'dessert apples (local), 3s. (id. per half-caws'; raspberries, 4s. 9d. to 6s. basket; raspberries, 6jsd. per box. Produce, etc.: ChalY (oaten shea!), £5 53. to £5 15s. oer ton; 6ats (A Gartens), 2s. 7d..t0 2s. 9d. per bushel; bran, £5 ss. per ton: pollard, £6 10s. por ton: straw, 2s. to 2s. 3d. ner bale: wheat, 3s. Bd, to 4s. Bd. per bushel: peanuts, 235. sack; rice, 6s. 6d. per mat.; chickens. 4s. 6d. to ss. nor pair; ducks, ss. 6d. to fis. 6d. per pair.; ls.'to Is. Id. per dozen; hens, 3s. to 35., 6d. per pair. . LONDON MARKETS. By Telegraph—Press Association—Copyright. . (Rec. January 15, 5.5 p.m.) London, January 14. Hemp.—The market_is inactive.- Janu-ary-March shipment is quoted at £20 7s. 6d. per ton c.i.f. Rubber.—Fine hard Para Tubber, lidhigher, at ss. 2sd. per lb. Copra is in strong demand. South Sea, in bags, is quoted at £23 10s. to £24 2s. 6d. per ton. Wheat.—An Australian cargo sold at 365. 3d. per quarter. THE MF.TAL MARKETS. •By Telegraph—Press /ssociation-Copy right (Rec. January 15, 5.5 p.m.) London, January 14. Copper .-On spot, £55 10s. per ton; three months, £56 7s. 6d.; electrolytic, £58 On spot, £183 10s. per ton; three months, £184. Lead, £13 2s. 6d. per ton.