COMMERCIAL ITEMS.

Dominion, Volume 4, Issue 1109, 24 April 1911, Page 8

COMMERCIAL ITEMS.

INVESTMENT SHAEES. The soles recorded on Saturday were: Metropolitan Permanent, £12 12s. 6d.; Wellington Trust and Loan, £7 15s. 6d.; and Taranaki Petroleum, 14s. . The buying and selling quotations wore as under:— Buyers. Sellers. £-. d. £e.d. Bank of New Zealand ... 11 7 0 — National Bank — 6 0 0 N.Z. Loan and Mercantile 0 10 6 0 11 0 Wellington Investment ... 0 11 3 , - Well. Trust and Loan .... 7 14 6 — Gisborne Gas 3 2 6 — Wellington Gas — 19 0 0 Standard Insurance 19 0 — Christchurch Meat — 16 0 0 Well..Woollen (ord.) - 4 2 0 Well. Woollen (pref.) 3 0 0 — Taupiri Conl '. 116 — Wcjtport Coal — 19 3 kjyland-O'Brkm 16 3 - Manning and Co 4 11 0 — Mirainar. Ltd - 0 2 5 N.Z Drug •; •.- 2 9 0 — N.Z. Paper Mills 116 - Sbarlaud's preference ... 1 4 0 — Taranaki Petroleum '. 0 13 S 0 14 6 Taringamutu Totara 2 8 3 — LONDON MONEY. MARKET. _ The London money market is now showing signs of easing. The open market discount rate ir. London is dawn to 2-J per cent., and the short loan rate has declined from 3 to 23 per cent. The Bank of Ensland figures show increased strength; the gold in the issue department shows an increaso after two or three week? of-inarhcd shrinkages. The "other deposits" liavc decreased by. nearly three millions sterling, and the proportion of reserve to liabilities has in consequence pone up over 4 points. The real influx of. Coronation visitors to London will begin to show itself nest month, and then the money market should show considerable easiness. • BRADFORD TOPS. . The Bradford top market is reported firm, with prices unchanged. This is enitefactory as far as it goes, but it is poor consolation for those who bought wool locally for resale in London. Thc'sa specnand they are naturally anxious for values to advance. Compared with a year ago the quotations for tops show v.o improvement, but the firmness of the market is encouraging for the nest of the rerics of sales, which begins in London on Tuesday, May 9. Crossbred wool is likely to be affected by the European nml North .American clip, which is.just about duo. The Quotations, for tops compared with last year's prices are as uikUt:— April, 1910. April. 1911. d. d. . Forties 15 1« Forty-skce 175 15J Common 60's „:.; 27 26 Super 60's. 28 27 Sixty-fours i J.-.,:..;'.:.'..'.' 263 27J Writing with respect to crossbred wool, a London correspondent gives tho following views:— The position of cros?brods of medium and coarse ouality has not. varied during the week. Coarso, bright lustre wool still remains in request for the special purposes of the approaching Coronation; but that is tho only satisfactory feature in connection with the description? in question. For all sorts, except those nearly approximating-to merino', the demand is insignificant, and it is only with the utmost difficulty that values are maintained. Not the .slightest encouragement comes from the Continent, notwithstanding the improvement in the prices of coarse wool there, referred to in last week's letter, and which, of course, chiefly apnlied to Eiver ?lato growths. Export merchants in Yorkshire, alike in the top and yarn department.-, say they are unable to pay, current quotations,, consequently they are entirely inactive, and for homo the trading is only carried throughon a, very limited scale. .Spinners, with .scarce an exception, arc actively encased in tho fulfilment of old contracts! but as regards new business they report themselves well nigh at a. standstill. Any oi'fers of new order? which come to them arc on so low a. price basis that they cannot do otherwise than refuso them, and none of their customers seem disposed to operate otherwise than in the most strictly hand-to-mouth fashion. Anything in the way of speculation, even to the extent of users anticipating their requirement;; on account of the possibility of having to pay more money later on; does not exist.'and , ths universal disposition apparently is, hi the classic words.of the Prime Minister, to "wait a.nd see." Some people cherish the hope that ere very long an impetus to activity will come from America, in which event they prophesy a very sharn and pronounced recovery all along the line. . NOTES. Some old figures of the consumption oi tea per head of population will b«ar repetition, in view of the extremely delicate position of tho tea market at the present time. They are those for 19GB. China, of course, consumes the greatest amount in the total, but tho amount per head is very small. Tea i 3 the national and most fashionable beverage of Bussia, but owing to tho duty the cost is so high that the poorer classes can only afford it in an extremely diluted form. The Australians and Now Zealandcrs are tho greatest tsa driukcrc, consuming more per head than any other people.. Germany is among the least— ,161b. per head—but France is lower, .06 per head. The figures per head in different countries are:— Pounds Australia, 8.03 New Zealand 6.C8 Great Britain 6.33 Canada. 4.37 Holland ;\ 1.77 China 114 Russia l.u United States 1.07 Japan 0.52 South Africa 0 51 ■ Ceylon 0.45 Germany ......; 0.16 France 0.05 Austria 0.06 . India : 0.C6 The "Economist," of February 18, has an article on the London Daily Stock and Share List, which, in 1831 quoted securities to the nominal value of £5,786.913,900, and in 1909 to the value of £10,200,273,612. The total grows year by year, and the present 16 pages of that share-list are already becoming overcrowded. ■ There was a time when Ihe Daily List consisted of one page only, though tho Twice-a-Weck List was a. longer and jnore complete publication. But the latter dropped out in the sixti-es, so did the Foreign Stock List, and for tho post forty years tho Daily List has been the sole is3iie, and is a, remarkable production, obtainable within an hour-and-a-half cf the closing of the market. For many years these Stock exchange lists were private property, but the present Daily List is issued direct by the Stock Exchange Committee, and it is divide! into 3C sections. Of course, British investors do not hold all the £10,000,000,0(10 securities quoted therein: A large section are foreign, though there is a London market for the whole of them. The total Canadian trade with the Unit£l9,l3o,ooo imports, and £29,%0,CC0 exports, making together £49,050.0C0. 'Riis figure exceeds any previous year, though 1908 approached it, closolj*. Canada's purchases from tho Mother Country wore only 39 per cent, of the wholo trade, leaving 61 per tent, to be represented by exports to the Old Land, which consisted of fruits, minerals, seeds, meats, cheese, wood?, wood pulp, flax, paper, leather, furs. The leading articles in imports from Great Britain were wool and woollen manufactures, £4.105.000; cotton goods, cEZ.6CO.COO; iron and steel goods, .€2 2.10.000 —this item in the ease of tho 'United States was over nine millions —silk goods, drugs and dyes, earthern and glass ware, (lax and hempen goods, printing paper, spirits and wines, sugar rind tea. Great Britain sent Canada £14,400,00(1 worth of dutiable goods last year, and £4,600,000 of free goods. Of those dutiable £12,400,0C0 came in under the -referential tariff. Other parts of the British Empire sent to Canada merchandise to the value of £3,3C0,C00 last year. The Yorkshire Penny Hank, whose headquarters are at Leads, ami which possesses nearly 1000 branches spread over Yorkshire, Lancashire and adjacent counties, had an exciting experience at their Accrington office last month. Without any premonitory symptoms an inexplicable rush of depositors to withdraw their savings net in about midday, and by 3 o'clock, tho hour at which (he bank would have closed

hundreds of workpeople and children damouriup for their monoy. To ir.eet all '!;■- mauds and help to restore confidence the? haiik irsi kept open, all who lind pass bo'/k.-i bcinc admitted in baU'hos and cash paid out to them as fa=t .if possible. As tlit , ptory of ihe "run" spread to t!io mill? and workshops the needlessly perturbed factory operatives abandoned their occupation, and joined the waiting crowd, and to such an extent were mills denuded of hands that some concerns had to stop the machinery. By 10 o'clock at night the la-t .claimant had been paid, and the episode was closed.

CCSTOJW. The Customs revenue collected at the port of Wollington during the past week totalled £16,744 19.5.' 9f1., the amount collected on Saturday being £1181 3s. Compared with tho corresponding periods of Inst year, the receipts for the past eight weeks show as under:— 1911. 1910. March 4 1?,C14 ICsCB March 11 w>s 1G.345 March 18 IS.CW 10,353 March 25 2U?4 13,165 April 1 m.55S 12,425 April 8 2;,K5 17,314 April 15 10.E33 ' 10,325 April 22 16,7<5 15,236 £127,191 £1C9,0£8 Tho beer duty for the wee!; totalled ,«24 135., as compared with £190 19s. for tho corresponding week of last year. WHEAT. By Telegraph—Press Association—Copyright (Eec. April 23, 5.5 p.m.) London, April 22. Two Australian cargoes sold at 345. 3d. and 34fi. lid. per quarter respectively; 14,000 quarters for three ports, April Ehipment, and 55CD quarters Victoria, per steamer, April shipment, eold at 345. Sydney, April 22. Owing to London advices, the price of wheat is hardening. Shippers are offering 3s. 4d. per bushel. LO.VDOX 31A.HKF.TS. By Telegraph—Press Association-Copyright (Roc. April 23, 5.5 p.m.) Lonticn, April 22. Copra—The market is activo, South Sea, in bags, £21 to £21 7s. 6d. per ton. Hemp is nuict; April-June shipments, £20 per ton, c.i.f. Cotton.—Tiio Liverpool Quotation for middling Amsriean-Upland cotton is 7.7EJJ. per lb. ltubber.—Fine, hard P.ira. rubber, ss. 3d. per lb.. as against ss. IC'cl. list week. Habbits.—The market is flat: large .Sydney, ex store, 13s. 9d., young 95.: lai-ja Melbourne, Us. 6i!. SYDNEY SHOW SALES. By Telegraph—l'ress Association-Copyrislit Sydney, April 22. At the show salc6 the following i:;ies wore disposed of:— Draught stallions—On account of Jlr. CulIcn, of Cheviot, Snringiiqld, 150 guineas; ~•!" in;;Sei(i's Pride, 37i guineas. Sheep—On account of-Jlr. Nixon, Cantorbury, four Border Lciccslers, three to iive guineas each. FEOZEX 3IEAT. The , . New Zealand Loan and. Mercantile Agency Company, Limited, have received the following cablegram from their London hol'.so under date April 21:—Frozen Heat: Tile market is weak, and at tho drains for frozen mutton and lamb, and easier for frozen beef (sides). ! NORTH OTACO GEAIX 3FABKET. (By Tdegraph-Press Association.) ' Carcaru, April 22. There is very little chance lo report in the grain and produce i.«rket for the week just ended. Wheal: Very little offering, farmer; be'ng inclined t« hold on for a further mo. A few line; 'nve changed hands at os. Cf.il.. and 3s. Id. for new on trucks. A slii'Mly firmer tone is noticeable, due no doubt to the ireproved tone in the London market. Oat.;: There is.no business to report for tin; current week. Potatoes: Prisio are fairly finn, but medium are not in request. A quantity oi tub latter graiie is beinu- shipped away on consignment. Chaff: LiUle or nothing doing. FEILDING MARKET KEPOET. Messrs. A. H. Atkinson and Co., Ltd., of Foilding, f.old on Friday fome 2CO h*a<l cf jiSiiltry and 80 pigs. The latter sold to rather better advantage than for some time, although the doiusrid for this class of • farm animal, and ths shortage of milk, may be gauged by ths sale on Friday of two young sons and 2S r.-e.-.ners at HI for the lot. In poultry lines (continues the report) we had a number of cood turk'iys forward. We placed a few bundred secondhand sacks, and have some 15C0 for disposal next week. Some prime Algerian seed oats made to <s. per bushel. Potatoes free. of grnb show better voliivs. Vi'e quote:— Algerian seed oats, to 45.; feed, 3s. <!d. to 3s. Gd.; Cspd barley. Jβ. 3d. to 3s. 6d. ; wholo wheat, 4s. to 4s. 6d.; grey partridge peas, 55.; white, ss. 6d.; rnaiie. 4s. 6d.; bran, ss. per sack; pollard, 12:.; clean ryegrass seed, fa. 6d. to ss. 9d. to 6s. 6d.; table potatoes, £5 to £5 Its. per ton and 9s. to its. per sack; pig do., 2s. Cd. to 35.: onions, 6s. 6d. to Bs. per cwt.; tomatoes, Is. 6d. to m. per case: pumpkins, 4s. to 4s. Cd. per cack; marrows, 3s. to 45.; pie melon's. »d to Id. per lb. Weancr pig 3 made 2.:. £el "to 3s. 3d.; slips. 45., 55., 6s. to 7s.- store--13s. 6d. to 16s. 6d.j light porkers, to 16s. 3d.' : heavy, to 265. 6d.; well-bred empty eows, to 245.; sows with litters, £1; pony. 36spoultry (per pair): hens, Is. 9d., 2s. 3d., to 35.; chicks and cockerels, Is. 6d., 2s. 2f 3d 2s. 6d. to 3s. 3d.; duck;, 2e. 6d., 3s. 3d 4s'' 4s. 3d.; turkeys, Bs. 6d., 9?., 10s.. 12s. to 135.; pigeons, Is. 9d.;dogs, 2s. 6d. to ss.