COMMERCIAL ITEMS.

Dominion, Volume 5, Issue 1265, 21 October 1911, Page 8

COMMERCIAL ITEMS.

INVESTMENT SHARES! There wore no transactions in investment shakos yesterday. The buying and selling quotations were as under:— Buyers. Sellers £ s. d. £ s. d. Equitable Building 9 15 0 — Well. Trust and Loan ... 7 10 0 — Well. Deposit - 0 8 I Auckland Gas (17s. 6d.) i — 4 0 0 Auckland Gss (305.) 3 8 0 — Chrirrtchlirch Gas — 5 15 0 Feiifliuf? Gsra — 1 2 6 Gisborno Gas tn -- ■ 3 16 Napier Ga3 12 2 6 ■ — Well. Gas (£10) - 1816 6 Well. Gas (£7 155.) 15 12 6 - Wellington Gaa (new) ... 2 12 6 2 17 6 Well. G. 15. (pref.) 0 2 8 0 2 9 Ohristchurch Meat — 15 0 0 Union Steam , - 2 0 0 Wellington Woollen (pref.) — 2 19 0 Leyland-O'Brion 18 9 — U.K. Paper Hills 10 0 — Sharland's ordinary — 14 6 Taringamutu Totara 2 5 0 -» Ward and Co 5 10 PACIFIC CABLE BOARD. The result of the year's operations (to March 31, 1911) is as Traffic receipts, £140,313 2s. 5d.; less Atlantic companies' charge for conveying date and time, ami for deliTering duplicate copies in London and other large ccntrcs in United Kingdom, £4170 6s. 7d. Interest on deposits, £225; refund tolls and dues, £2C3; charter of "Iris," £2107, making a total of £138,677. Expenditure—Head office (salar ; ics and expenses, canvassing, engineers' fees, and royalties), £7114-. cable stations (salaries and expenses!. £57,303, ship s salaries and expenses, £13,036; provident fund, £1885; renewal account, £30,K0; excess of receipts over expenditure, £29,334—£138,677. The sum 0f'£29,334 was thus available towards meeting the annuity of £77,544 payable to the National Debt Commissioners in respect of interest and sinking fund on the sum of £2,0C0,CC0 advanced by them loathe purpose ol providing the capital required for laying and equipping the Padlie cable. This is £11,378 more than wad available in tho year 19C9-10, and reduces by an equal amouut the sum to be provided by voto of the Imperial and Dominion Parliaments, which will be £48,210. for the year under review. The increase of £24,677 shown in the net traffic receipts is due to three causes-(l) The delayed transfer of £2211 by tho Australian Goveminent; (2) increase of business; and (3)' the receipts from the new source of revenue in the. tolls on traffic between Montreal and Bamlicld, over the line leased by the Board from the Canadian Pacific Railway Compuiy. MO KEY MARKET. The New Zealand "Trade Review" issued tills week deals with the money market . as under-.— . . , , Tho outstanding feature of the bank returns for the September auartcr, which, we rcviow in this issue, is the heavy growth ' that has taken ' placc in the advances. ; As compared with the June Quarter an increase in advances and decrease in deposits is the usual movement, but on the ' present occasion wo find that the advances ■ aro over three millions more than they ! were a year ago. but deposits have also grown by some £310,(00, leaving a net call on tho banks by their customers of some £2,400,CC0. Those demands are attributable, we think, chiefly, to the heavy growth in I Importation, coupled with a shortage of something like two millions in our exports as corn-pared with the previous year. The excess of deposits over advances, though much less than a year ago. still shows a ' good supply of money available for all 3 legitimate requirements. As far as prices pre concerned, the pros- - pcets for the coming export season aro . very satisfactory, but rain is needed in many parts to brine on the pasture?.-other- " wis« the output will suffer materially. 0 Tliero aro still complaints of n lack of s substaheo in trade and of confidence, the - reason for which is somewhat hard to ac- ] count for, but the uncertainty of tho 1 future of labour legislation is, no doubt, acoountablo for a feeling of unrest on the ; part of investors. WELLINGTON MARKETS. Messrs. Laer.v and Co.. Ltd., Wellington, report wholesale nricre ruling on tho market as under:—Wheat, good whole fowls, ■ 4s. 3d. to 4s. 4d. bushel; oats, good feed. 1 3s. 6d. to 3s. 7d.; oats, seed white, 3s. 9d.; I Algerian feed oats, 3s. 3d.: rye corn, 3s. 10(1.; maize. 3s< 9d.; fowls' barley, 3e. 3d.; Cape, 3s. 6d.; crushed malt, 7s. 6d.; partridge peas, 4s. fid. to 4s. 9d.; pollard, £6 ss. to £6 10s. per ton: bran, £6 55.; flour, Atlas, £9 ss. 6d.; chaff, oaten L. sheaf, £5 15s. to £6 55.; rice flour, £5 15s, per ton; rico meal, £4 15s. per ton 3 potatoes. £4 ss. to £4 10s.; onU ions, Californian, £12; bonedust, £5 15s.;' basic sla.g, £4 ss. to £4 10s.; superphosphates, £4 15 s. to £5; II oatmeal, £14 10s.; rolled oats ill 4's, 9a. 6d. n dozen; cheese, medium-sized, 6id. pel lb.; loaf, 7d. per lb.; butter, prime bulk, lOd. to lid.; freahegis, lOid. to Ud. cei

dozen; honey, 56's bright, 4d. lb.; linseed nuts. los. per cwt.; linseed cake, crushed, 13s. 6d. per cwt.; bacon, Fides Eld. per lb.; bacon, rolls. 9id. per lb.; hams. 9d. per lb.; fowls, hens 3s. to 45., young roosters 3s. 6d. to 55.; ducks, 4s. 6d. t<' Es. all at per pair; turkeys, gobblers, Bd. to 9d. per lb. live weight, hens 6d. to 7d. Customs revenue collected at tho port of Wellington yesterday amounted to £1490 19s. 10(1. BANK OF ENGLAND RETUKN. By Telegraph—l'rcss Association-Copyrieht (Roc. OctolxT 20, 8.50 p.m.) London, October 10. Tie Jlnnk of England issued l'nr the week ended Wednesday, October IS, 1 is as under:— l Issue Dr-:r\iiTME\'T . Note Issue... £50,591,C00 Gov. ilcbt ... £11,01Vf13 Other Eecuri " tiaj ... -. 7,tU'yJ j> Gold 35.1U.000 1 £56 .£91,003 i01i,591.(0 ' Ba-nkinb DnPAntstKNT. r Proprietors' Govt, sccuri- £11,095,000 J capital £1-1,553,003 ties f rublie do- Other securiposits ... 6.715.C03 ties 17,-243,000 Other deposits ... 15.053.000 Xotea „ 2fi.o:-2.C00 Rest. 7-day fcixl other bills 3.160.rm Coin - _ 1,220.000 £03,-181,003 fE9.ISI.CO-J The leading items of tho Bank of Eng- ] land return afford tho following comparison:— ! Thiswcoi Lastwoai. Last year ' £ £ £ ' Rnllion 35.14-2.OCXJ 36.;ng,000 30.635.00 D e Reserve 2?.1iJ.0U0 -.7.V25.000 -2-2.t02.10J ■ Note circulation '2'J.OijO.OttJ '2il.l£0.(00 u7.1i1J.0U.! , Public Deposits 6.715.WJJ 7.U.H.JJJ 1 Other Daposits 15.05iiMJJ 15.9J6.00J 41.Jij.UJJ f , Proportion of reserve to J liabilitwi 53.40 51.91 46.43 I GOVERNMENT SFCURITIE3. II The following are the latest quotation! lor Government tecurities with a coms parisou ol those ruling last week:—

BANK RATES OF DISCOUNT. The Bank of England rato wa3, on De« comber 1, 1910, lowered from 5 to 4A per cent.; on January 27 it was lowered to 4 per cent., on February 16 to 3$ per cent., and on March 9 to 3 per cent. On September 21 it was advanced to 4 per cent. The Hank of France rate Wiia reduced from 3J to 3 per rent, on Jantiarr 23. 19C8. and continued at the latter Ogure until September 21, 1911. when it was raised to 3i per cent. The Imperial Bank of Germany reduced its rate from 5 to 4$ per cent, on February 6, aiifl on I'obruary 19 the rate was further reduced to 4 per cent. On September 19 the rate was raised to 5 per cent. MARKET RATES OF DISCOUNT. Tho following are the market rates for best three months' bills:— London Paris • Berlin rate Tate. rate percent per cent, percent This week 31M6 — — Last week 4 31 41 Last year 25 /y Short loans are auoted at 2to 2J per cent, as compared with 2} per cent, last week and 3§ per ccn4. last year. COLONIAL AND OTHER PRODUCE. Wheat.—The market is steady, and business is firmer owing to the estimated reduction of 25 per cent, in the Australian crop, and the Tripoli and Morocco situations, also to the frosty dry weather in • the Argentine. An Australian cargo gold at 365. 7-Jd., for South Australian off coast 365. 9d. has been offered; Australian., tlirce ports, December-January shipments eoid at 365. 7jd., January-February shipment, 363. 6d.; Victorian, per sailer, November shipment, 365. 9d. Australian, landed, 375. 6d., South Australian and Victorian naxcela afloat 355. 6d. There is a large business in Australian jrareela at Liverpool, October-November shipments, at 355. 9d. Fifteen thousand Quarters of Australian new crop by sailer, January-February shipment, sold at 365; 6d. Flour is steady, but with littlo inquiry at 2Ss. 6d. to 265., ex store, and 255. to arrive. Oats arc steady, but quiet. La Plata, December-Jajiuary-Februafy shipments, 166. 9d. Peas.—There is a small business in new crop Now Zcalands,' which are offering at 395. fid. Butter.—The market is quiet owing to the high priecs ruling. Danish, 1405.: choices! colonial, salted, in small supply, 12&s. to 1305.; unsaltcd, 130s. to 1325. Cheese is dull. Canadian, 695. to 7C<s. Sugar.—German beet, 88 per cent, net titre, 2d. lower, at 17s. 6d. per owt.; first marks, granulated, f.o.b. Ilamburg, 3d. lower, at 20s. 9d. Bradford Tops.—The market is very weak, and there is no business' in spot quotations; futures sixty-fours, id. lower at, 24Jd.; super sixties, Jd. .bwer at 24d.; common sixties, unchanged r.t 23id.; fiftysixes, 2Csd.; fifties, 17d.; forty-sixes, 13jd.; forties, 12Jd. THE METAL MARKETS. Copper—On spot, 225. 6d. higher, n.t A s s 13??. 9d. per ton; three months', 225. Gd. higher, at £56 10s.; electrolytic, 15s. higher, at £57 12s. 6d. Tin.—On spot. £5 10s. higher, at £190 nor ton: three months'. £6 higher, at £189 Eg. Pig-iron.—Middlosboro' No. 3, unchanged 3t 465. 4d. Lead, £15 ss. per ton. Spelter, £27 10s. per ton. CANTERBURY GRAIN. (By Telegraph.-Press Association.) Christchurch, October 20. There is pti.ll little to record in the local grain market, transactions in wheat beintg very few. In oats there is nothing doing. In the absence of offerings, rhoff is very firm and. for immediate delivery, it is reported that an advance on the late rate has been paid. Potatoes have further advanced in price, and 425. 6d. to 455. has been freely paid to secure supplies for shipments north.

r ■ . i t Variations compa oj rric9. with _________________ last wools. £ q. ti. £3% Imrerial Consols 7ti 0 0 ]2s.Cd.hUher i ,.N.S. \S.19:-;iJau.-.ruly 104 JO U 10s highe 85 „N.S.\Y.rjiD (iar.-Hop. fS 10 o Unchanged 1 3 ,N.S.Vn .l'JJj Ajil.-Ocs. 56 0 0 Unchanged 4 Vie. 102JJan.-July 10J 5 0 ns. higher I Si „ Vic. 10:1-6 Jan.-July U8 - 6 2s.»id.higner 1 3 M Vic.l-j'i'J-'i'JJau.-Juiy Si 0 0 10s. higher f yi „S,A. K'ltf Jan.-July 93 0 u Unchanged { 3 ,S.A. IjjU Jan.-July 6i 0 ul Unchanged i 4 ,.QVdUUo--.il Jan.-July lOi W 0 10s higher 3gQTdlOJi-cOJau.-Juiy 5.6 0 0 Unchanged 3 ,,'jTd I'te-MTJan.-Juiy -i 10 0 3Us. lower - 4 ,.N.Z. l'JJi) May-.N'ov. 1UJ 10 0 Ms. higher • 3i „ N.Z. WW Jan.-July 1.) u is. higher 1 3. ..N\Z.lM:»A|>ril-Oi!fc. 15 13 0 Ss.higher c 3a „ W'.A.WzO-JO.>Iay-Nov* & 10 0 Unchanged t 3 „ W.A.U'lo-cjMay-Xov bj 10 0 Unchanged • fc; „Tas. IMOJan.-Juiy V»7 ID 0 15s. higher i 3 ..Tas. UJJ-iJ Jan.-Juiy bi 1J 0 Unchanged