COMMERCIAL ITEMS.

Dominion, Volume 5, Issue 1271, 28 October 1911, Page 8

COMMERCIAL ITEMS.

INVESTMENT SHAKES. Thero wore no transactions in investment shaj-os yesterday. 'J-'ho buyins and Belling Quotations were as under:—

MUTUAL BENEFIT SOCIETY. The balance-sheet of the .Mutual Benefit BuildinK and Investment Society of Canterbury, for the year ended September JJ, shows that the revenue, including the amount brought forward from the previous year, totalled £7503 lis. 2d. The ex--pensep of management and interest payments absorbed £UiO 6a. Id. leaving i'K64 6s. Id., out of which £500 has been added to tho reserve fund, which now stands at ££CCO, and £2CO has been placed to tho expense account, leaving £!64 6s. Id. to be carried forward. Burins the year the deposits received totalled ££2,795 6s. Id., and the deposits repaid amounted to £68.661 Bs. 9d. COST OF CUSTOMS. The maintenance of Customs housos i.s a matter' of expense, but, as a general rule, tho expenditure is reasonable. That is, it boars a fair ratio to tho duties collected. Now and again, however, the rererso occurs, and ilagrant instances of this come from tho United States. According to tho '"New York Journal of Commerce." tho Secretary of the Treasury is about to recommend the abolition ol a number oi uscftse Cust.ims houses. There is one at a place called jsatehez, where tho cost of collection was 269 dollars ;:cr dollar of revenue. Coos Bay, in Orecon. was a cood second, with 267 dollars per dollar, and, at York, a port in Maine, the •ollcction cost 200 dollars per dollar of revenue. The last-named produced 2 dollars 60 cents of revenue altogether in the year. There are reven port; on the coast of Maine where the cost of collection, per dollar of revenue, varied from 1 dollar t» 83 dollars. At Brownsville, in Texas, whore it Msts 2 dollars to collect one dollar. 32 persons arc cmDloytd in the Customs service. . LO.YBON MAV.KETS. Messrs. Dalgoty and Company, Limited, have received the following cable advice from their London office, under date Octolter 26:—Frozen Meat: Since our last tnblesram, Homo and Continental supilics ef mutton and lamb are decreasing. There is more demand for- lamb at'unchanged prices. Mutton is in better demand, Canterbury being unchanged. For best North Islaxd holders are asking tho same price as for ■ Canterbury. Eeef: No improvement. Sheepskins: As compared with closing rates of last series, prices are lower for combin" skins to tho extent of id. per lb., and for clothing skins to the extent' of Id. Tallow: Since our l;*t cablegram prices are, on the average, Cd. to Is. per cwt. higher for all sorts, cx«ept prime mutton, which is unchanged. The demand is chiefly for medium Qualities. Customs duties collected at the port, of Wellington yesterday amounted to £6335 12s. Ed. WELLINGTON MARKETS. Messrs. Laery and Co.. Ltd., Wellington, report wholesale pricca ruling on tho market as under:—Wheat, good whole fowls, 4s. 3d. to is. 4d. bushel: oats, good feed. 3s. 6d. to 3s. 7d.; oats, seed white, 3s. 9d.; Algerian feed oats, 3s. 3d.; rye corn, 3s. 10d.; maize. 3s. 9d.; fowls' barley, 3s. 3d.; Cape. 3s. 6d.; crushed malt. 7s. t-rt.; partridge peas. <s. 6d. to 4s. Sd.; pollard, £6 6s. to £6 10s. per ton: hrau. £6 65.; Hour, Atlaa, £9 ss. fid.; chaff, oai'.'U sheaf. £6 ss. to £6 iC'5., sacks in; rice Dour. £5 15s. per ton; rice meal. £4 153. per ton; potatoes, tn-bHs, f.i 10s. to £5 per ton: notfttoes. new, ljd. to 2d. . p-rr lb.; enions, Californian, £12; boucdust. £5 155.; basic slag, £4 ss. to £4 Mr.; superphosphates, £4 15s. to £5; oatmeal, £14 10:.; rolled oats in 4's, 9s. 6d. dozen; cheese, medium-sized, did. per lb.; loaf, 7d. nor lb.; butter, prime bulk, lCd. to lid.:' fresh eggs, lo£d. to lid. per dozen; honey. EC's brijht. <d. lb.; linSced nuts, 13s. per cwt.: linseed cake, criuhod, 13s. 6d. per cwt.; bacon, sides Sid. per lb.; bacon, rolis, 91d. per lb.; hams. 'Jd. per lb.; fowls, hens 3s. to 45.. young rooctcrs 3s. Sd. to 55.; ducks. 4s. 6d. to ss. all at per pair; turkeys, gobblers, Sd. to 9ci. per lb. live weight, hens 6d. to 7d. SHEEPSKIN. Messrs. Murray, Koberts and Co., Ltd.. have received the following cablegram dated October 26, from their London agents, I!csst3. Sanderson, Murray and Co.:--"Sheepskins—Merino: Tho market has declined id. to 3d. par lb.; fine crossbred, market has declined id, to Sd. per lh.; pelts, market has declined Jd. per lb.; other descriptions, market has declined 3d. per lb." GEAIN AND PEODTJCE. (By Telegraph.—Press Association.! Chrlstchurch, October 27. Thero is little doing in the local wheat market, there beinj few offerings, and only small sales have taken place during tho past week, prices still ranging from 3s. 6d. to 3s. 7d. at country stations. Larger holders are not willing to sell under 3s. 9d., but tho limited demand docs not indicate an increase in prices at present. There is no chango in oats, supplies being very short. Oats.—Sheaf chaff has been firmer, but at present thero is not much inquiry. Sales in the country have been made up to £5, but merchants are not offering more than 925. 6tl. at the station. Tho potato market i-s now appreaching its close for tho season. Though ihc.S: is not much demrjul, prices have been auvanccd considerably to obtain Uiii supplies renuircd. The prices paid this week have advanced to ste. ar.d 555., and tho latter is now the ruling figure at country Etations. TAIEP.I AND PENINSULA MILK SUPPLY COMPANY. Ey Telegraph—Presa Association.! Duncdln, October 27. At tho twenty-seventh annual meeting of the Taiori and Peninsula Milk Supuiy Co., about ICO shareholders were prc&tat, Mr. W. Nicholson presiding. The chairman, in moving the adoption of the report and balance-shed, said: "The results for the year show a very marked failingoff in the milk snpply. owing to tho continual dryness, and tho export of both butter and cheese shows a shrinkage of nearly one-half for the season 19t-9 to 1910. We exported 6948 crates of cheese, and 29,500 boxes of butter, and for 1910 to 1911 we exported 45C6 crates cheese and 14,990 boxes of butter. During the past season only EOO boxes of butter and £00 crates of eheece were exported to South Africa, aud about ICO boxes of butter to British Columbia. In 1907-19C3 we exported to bouth Africa 6025 boxes of butter, but the dry season experienced and general drawbacks in the way of production have materially altered the conditions. Indications from British Columbia, are good for the coming season, but everything in the way of trade will depend upon climatic conditions. Tie prices realised for butter exported just covered advances. The directors are making inouirios with the object of inaugurating the egg industry as part of the company's business. The outlook for present season is exceptional!;- good. Prices for both butter and cheese are high, and will enable the company to pay suptilwro a good price. The loss to the dairy farmers of the Dominion owing to the shortage of grass ar.d subsequent decrease of butter amounted last year to the enormous sum of £360,000." The chairman intimated that the company intended to avail itself of tho services of tho lady chcesemakcr engaged by the Government. Tho renort and balnnoe-sheet were adopted. Messrs. Bolt and Nicholson were re-elected directors. BAx\K OF ENGLAND RETURN. By Telecraph—Press Association—Copyright (Rec. October 27, 10 p.m.) London, October 27. Tue Bank of England return issued for the week ended Wednesday, October 25, is as under:— Issue DKPAnnrRST Hole lisao... £54.711.000 Gov. debt ... £11,015,033 Other securi tio3 7.«4.nni) Gold 3G.3M.C00 £34.741,003 X54.741.C00 Bineisg DnrAnritEST. Proprietors' Govt, securi- £14.006,000 capital £14,553,000 ties... ... Public do- Other securiposits ... 7,268.000 ties Ct.DOS.OOO Other deposits ... 44.232,000 Notss ... 2u.072.000 Rest, 7-day and other bills 3.150.000 Coin ... «. 1.159.C00 £69,2U,003 JEC9.212.00'-> The leading items of tho Bank of England return afford tho following comparison :— This week Last week. Last ye »r £ £ £ Bullion 36.202.000 38.142.000 20.075.000 Rescrvt 27.211.0U0 ;-7.H2.0(X) -23.015.t00 Note circulation tf.1W9.000 58.1i69.1M0 27,751 .COO Public Deposits 7.-2ta,OUJ 0.715.000 7.174,000 Other Deposits 44.-232.00J 45.0J3.00J 40,544,000 Proportion of resorvii to „ UtbUitie! .. 51.50 CiiO U.U

) GOVERNMENT SECURITIES. [

The following are the lutcst quotation) for Government securities, with a comparison of those ruling last week:— I

BANK RATES OF DISCOUNT. The IJauk of England rate was, on December 1, 1910, lowered from 5 to <J per cent.; on January il it was lowered to J • per cent., on February 1G to 35 per cent, and on ilareh 9 to 3 per cent. On September 21 it was advanced to 4 per cent. The Bauk of France rate was reduceJ from 3S to 3 per cent, on January 23. 1908. and continued at the latter iiguro uutil September 21, 1911. when it was raised to 3J per cent. The Imperial Bank of Germany reduced its rate from 5 to 4i per cent, on February 6,' anjl on February 19 the rate was further reduced to 4 per cent. On September 19 tho rate was raised to S per cent. MARKET RATES OF DISCOUNT. The following are tho market rates for best three months' bills:— London Paris Berlin rate. rate. rato. percent percent, percent. This week 3ii 3 4 ; , Last, week 311-16 3 4j Last year 111-16 2a . <j Short loans arc Quoted at 25 per cent., as compared with 2 tj 2* per cent, last wceu, aoiu si per cent, last year. COLONIAL AND OTHER PRODUCE. Yfheat.—l'ho maj'keis are very quiet, but Etuauy. liij AiiK-i'icui) man.cis u.iu iirmci' uuer iiu.-.o»an crop ropm-ii, aiid i.ie uuiiisu ton-j on .lustia.iaii crop estimate.-, au Australian cait'j suiu at «s.; ouuui Australian, per Juty iinpn-ciit, on.-.: Auim. y.iipmciii:, o.s. oc; Sjpiouitje-i- shipment, per steamer, oij.; oil coast, u os. Ou.; i\ew liouuix nuies, per caLer, January siupmeut, ais. ou.; -iullUuiuu, Ja.*uar/--ebiuury suipii-cuc, ;-js. vd.; parcels ui _o jiuii Autii'Liiau alia v iMit/riiiii unoat, Sw.; Oiiuoi-r-iiovciauer suiuuicin, x'iour is being steadily held. u~i-s are wcuKor, ai/u cii/tcd steadier. La i'lat.i jauuaiy-iipni ompments, ies. fid. isutlcr.—The market is dull. Danish, 13C;. £5 ;:ga;ust l-.'Js. .Ast is sitr.dy, cnaices: sau-co, iois. u ij.a.; unsaitou. 10.0. oneesc is slow of sale. buk'ar.-ucrmau ix-a, 13 per cent, net title, fcii. iov.x-r at lis. pit cwt.; List lower at ZOs. od. biierpsKius.—At tho sales 5310 Australian, and 3w ;\c-w Zealand wore on'crcd. xncre was a moderate Tuerc were lairiy nuuieiotis vatnciawais. All merinos and crossorcd clouiiuas decunca a nait'peii.iy to tnreo fartniugs. iirauiord mari.-et is more cheerful, with snylitly more business doinc. Tut prices ior luturos arc: Fiity-.sixes, ia. iowor at Ziu.; forty-sixes, id. ioi.er at j iiid.; and forties, id. lower 4t l2ia.

THE METAL MARKETS.

Copper—Spot, unchanged at £55 13s. 9d. par ton; three months, unchanged at £i 6 10s.; ele-trolytic, 6d. higher at £57 los. Tin.—Spot, ss. higher, at £J9O ss. per ton; thrc months, lbs. higher at £19u. Lead, 7s. bi. higher at £15 12s. 6d. per ton. tipcltcr, 255. loirer at £26 10s. per ton. Livo stock sales and mining news will be found on page seven of this issue.

Buyers. Sellers. £ 6. d. £ s. d. Metropolitan Par 12 7 6 - Well. Trust and Loan ... 7 10 0 — Oliristcliurch Ga3 - 9 M 0 Feilding Gas — 1 \ ° Gisboriic Gas — 3 16 Well. Gas (new) 2 15 0 — N.Z. Shinning 10 12 6 - Well. Woollen (prcf.) - } J J 6harland'9 ordinary — 14 6 Tariujamutu Totara 2 6 0 —

Variations _ couinaied rrioo. with I last week. j 21% Imperial Consols 7S U li ]2s.£d.higher i ,.«.S.\V.1933Jan.-July 105 0 I) 10s liiyhor 3i ..N.S.W.UU.ijar.-Son. PS 1J U Uucrunacd 3 ..N'.S.W.IlBjAul.-OBi. Si 0 0 20s. hisber i ..Vic. WiiJJau.-July \ 131 12 0 76.6(1. liinlicr 3s „ Vie. lUjl-iiJo.il. July iti 5 0 I -'s.Gil.lusher 3 „ Vic. liiilM'JJan. July, t» 0 im Unchanged 35 ,.S,A. l'.iliiJau.-July lb' U ui Unchanged 3 .S.A.ldlo Jan. July srf U 0 j Unchanged i ..UTdhllj-m Jan. July! 10J U Ui Ms hiyher 3i„<J , i , dUilJ0Jan.Julyj Jl 0 0 Is.higher 3 ..(JTrtliUiiTJau.-July m 0 u Us. lusher J „N.Z. MJJlIay-.S'ov. 101 2 6 7c.i:d.lower 3i „N.Z. WlOJaii.Jiily Mi 2 li 7sGd higher 3 ,.N.Z.llM:.Anril-Oct. til » II is. higher 3j „ W.A.lSWMU.iIay-Xov '-''10 0 Unchained 3 ,. \V.A,IU15-b5.Uay-Nov & 5 U 5s. los-or 3-1 „ Tag. llHUJan.July '-'3 0 O 5s. higher 3 ,.Tas.lJ3J-10 Jaa.-Julyl M U U Unchanged