COMMERCIAL ITEMS.

Dominion, Volume 5, Issue 1336, 13 January 1912, Page 8

COMMERCIAL ITEMS.

INVESTMENT SIIAItES. There were no transactions in investment shares yesterday. The buying and selling Quotations were as under:— Unyers, Bnllcrs

NEW ZEALAND EXPORTS. The value of tte principal products exported in 1911 was approximately £},OCO,OCO less than in 1910, and this is due largely to the shrinkage in quantities. A comparison of the quantities is shown as under

The shrinkage is general, and is too pronounced to be explained av.-ay as being tho possible result of shipping arrangements. The- season last year was not a good one, and furthermore the sheep returns taken last April disclosed a shortage This has affected the exports of wool, frozen meat, and skins. It is partly bocause of this shrinkage that the tanks have been called upon to finance certain sections of the community. The people have not had tho money to spend, and the merchants consequently find that tliey have over-import-ed.

SALMON STATISTICS. Lat.3St advices from San FranciVco are to the effect that the Columbia River pacr;s of chinooks, sockcyes, Alaska red, and medium red salmon have been sold, and thec3 is very little Alaska pink in first hands. Stocks on hand consist, almost entirely of Paget Sound humpbacks and Alaska chums. The total pack of Ealmon ill 1911 was a rccord-brcciking one—several hundred thousand cases larger than any previous pack. It is estimated that tho total ISII pack was-.—Alaska. 3,000,000 cases; Sound, 1.350.0K!; Columbia River, curing and fall. ECO.COO; British Columbia, 750,000; outside rivers, 250,000. Total, 5,850,C.OO eases, or 600,000 cases more than any previous year in the history of tho salmon industry. Of this large quantity th?rc is unsold less than 2C0.P00 esses, consisting almost entirely of Putrcl Sound humpbacks and Alaska chums. Very few Puget Sound cohocs or chums had been packed to tho beginning of November, nnd tho outlook was for a short naek of theso grades. Of the foretroinET pack P.SIO.Prf) cares are pinks and chums, as against tho largest previous pack of thc><! grades o! 1,400,000 cases, so dealers and consumers have apparently at last recognised tho value of pinl; salmon. Tho unsold stock of T'ufet Sound Humpbacks is in very firm hands, hence there is no possibility of a clcclirn in prif-c, because everybody connected with the salmon business knows that an r.-"-;t year is the o(T year, no humpback will lie packed on l'uget Knnnd. And as 19!.' Is Mil bie ycat on sockryes, packers will have to devote their entire attention to sockcyes, and, therefore, will have very little tinra to givo to tho packing of humpbacks.

WELLINGTON WOOL SALE. Messrs. Levin and Co. were, through a typographical error, reported yesterday as having offered 450 bales of wool ;U the psle 011 the previous day. The 11 mount they actually submitted was 4150 bales. Customs duty collected at the port of Wsllincton yesterday amounted to £5106 14a. lid.

HIDE SALE. Messrs. Abraham and Williams, Ltd.. report as follows:—Va held our usual monthly sale on Friday, January 12, and oil'ered a pood calaloKue to ,i fair attendance of buyers; bidding for wool, skills and hides wa« fairly spirited, and the prices throughout were ediial to late rat'-'S. We quote: —Wool: llalfbral, 9j<l.; Shropshire, 9.1(1.; crossbred, medium. 6ijd. U> 8«(1.; ilcod, to 7*d.; lambs, 7:1(1. to Bid.; black, fid.; crutehiiigs, "5:M.; bellies and pieeoa, <id. to 6;.(1.; locks and pieces, <d. to 4sd. Skins.—Crossbred, line, GUI. to 7d.; medium, sd. to 6id.; inferior, Ed, to 53d.; dead and damaged, 4d. to 5;d.; lambs, 31(1. to Old.; liosßcts, 'ijd.; ciuarlor-woote, ■ijd.; merinos, 52(1.; black, 5d.; salted pelts. Is. 4<l. to 2s. 7d. each; butchers' sniiis, crossbrcd, ss. Gd. to 75.; lambs, 2s. lid.; Calfskins—Sound calf, 7Jd. to lljd. per lb., tile latter equal with lib allowance to 4s. 7d. each; cut calf. 7 3-Ed.; yearlings, 7d. to 71d.; cut yearlings, 5Jd. Hides.—Ox heavy, 7Jd.: medium, 7£d.; cows, medium, sd. to 7d.; li.eht, (3id. to 6, 7 d.; cows, cut and slippy. <2d. to 5d.; bulls, s';d.; heifers and steers, 6Jd.; horso hides, ss„ 6s„ and 10s. each. Tallow—Tins, £24 ss. per ton; rough fat, £18 15s. per ton. Horsehair, Is. 7>d. to Is. 9d.; cow hair, 6d.; cow tails, ,Is. 4fd. GRAIN MAKKET. fßy TeleErnnn Associations Gliristchlirch, January 12. The local wheat market is reported firm, with littltt or no business doing, as those farmers who have old wheat on hand aro not anxious to sell in view of the harvest being late and tho weather being bo irntirtain. The last few days havo been bright and warm, and just such as is requiiVd for ripening the crops. Some forward sales of oats have been made by merchants, but business in the new crop with farmers has not really oommenced yet, only one or two linss of Algerians having changed hands at 2s. at country stations. No white oats have yet been offered. A sample of new borlsy shown was apparently on tho soft side wlicu tliresfieif. Though no cases of blight have yet been reported, it is feared that tile season will be favourable for its development. Some of the early crops havo gone off in tho tops through tho attacks of apliis, BUTTER AND CHEESE. Duncdin, January 12. Mr. J. R. Scott,* secretary of the South Island Dairy Association, received a cablegram quoting New Zealand butter at 1375., aud cliche, white 7fa., coloured 735. 6d. Messrs. Wuddel and Co. cable that they sold all their cheesc, ex Turakina, at equal to 7 l-16d. per lb., f.o.b. Tills is a record price, hut Mr. Scott says it is not improbahla that it iwill yet bo beaten, as cheese Is evidently ui abnormally short supply. 6TOCK EXCHANGE. Auckland, Jantiarr 12. Tho following business was dono at the 3.15 p.m. call to-day :- Occidental Consolidated, Ib. 3d. Waiotahi, 4s. 9d., 4s. 8d„ 4s. 7d. Waitaugi Consolidated, 2s. 9d. Golden Cross, 9d. Talisman Consolidated, £2 lis., £2 lis. 3d. Waihi, £2 125._3d., £2 12s. 6d. Vt'aiiii Grand Junction, £1 IDs. 3d., £110s. BANK OF ENGLAND RETURN. By Tclcrraph— Press Association—Co pyrlcJit (Eec. January 12, 8.30 p.m.) London, January 12. Tho Bank of England return issued for the week ended Wednesday, January 10, is as under:— Issttc Dhfmithrnt Note Ifisuo... £53,674,W0 Gov. dobt £11,(115,00!) Other securi lias ... _ 7,434,000 Goli ._ ... 33.2i5.C00 £53,074,000 jE53.E71.000 BINUXO DnpAm-jn-.'n. Proprlttors' Govt, securicapital £14.553,000 ties £15,270,000 Public do- Other sccuriposita — 12.d52.C0J ties 31.972,003 Other doposits .- 42.726.0£0 No to J .. 25,086,C00 Rest, 7-day and other bills 3,333.000 Coin ~ _ 8J3.000 £73,151.0>3 £73,151,030 Tho leading items of tho .Bank or England return afl'ord tho following comparison:— This waolc Last woo!:. Last year

GOVERNMENT BEOUmTIKS. Tt»o following are the latest quotation} for Government r,counties, with a com p&ricou of thoEa ruling last week:—

BANK RATES OF DISCOUNT. The Bank of England rato was, ofi December 1, 1910, lowered from 5 to 41 per cent.; on January 27 it was lowered to 4 per cent., on February 16 to 35 per cent., and on liarch 9 to 3 per cent. On September 21 it was advanced to 4 per cent. The bank of France rate was reduced from 3} to 3 per rent on January 23. 19ia and continued at the latter figure until September 21 1911, when It was raised to 3J per cent. \ The Imperial Bank of Germany reduced its rate from 5 to 45 per cent, on February 6, and on February 19. the rate was further reduced to 4 per cent. On Pep tember 19 the rate was raised to 5 per ccnt. MARKET KATES OF DISCOUNT. The following are the market rates for best thrco months' bills: — London Paris Berlin rate. rote. rate.

Short loans are quoted at 31 per cent., as compared with 2g per cent, last week and 3} per cent, last year. COLONIAL ANT) OTHER PRODUCE. Wheat.—Tlie markets are quiet., being influenced by the favourable reports from the Argentine. Holders are more disposed to sell at a slight reduction, buyers arc reserved; 365. 9(1. is asked for South Austrian September shipment, 375. December; 365. lOjd. to 375. for Victoria, loading; 36~. ' lms been paid for New South Wales now due. A slow trade is passing in epot wheat. Flour is quiet. Australian patents afloat, 25«. Oats are firm. La Plata, loading, 18s. 3d. Butter.—The dcarness has caused a temporary check to the demand, but values are firm. Choicest Australian, 130s. to ; New Zealand, 1365., occasionally 1385.; Argentine, 130s. to 1325.; Danish, 13Es. to 140 a. Cheese is Arm and unchanged. Sugar.—German, OS per cent, net tltre, Id. lower, nt 14s. Bd.; first-mark rcramil.ited f.o.b. Hamburg. 3d. lower, at lGs. 9d. Bradford Tops—The market is firm and unchanged. Sixty-fours, 25d.; common sixties, 245.; super sixties, 24>d.; fifty-pi:* ch, 2td"• fifties, 18d.; forty-sixes, 14Jd,; forties, 13id. METAL MARKETS. Oopper—On spot, 6s. higher, at £63 Bs. Pd. per ton: three months'. 3s. 9d. higher, Q spot, £3 lower, at £188 per ton; three months' £184. Lead, soft foreign, £15 12s. 6d. per ton. Pig-iron, 7>d. lower, at 495. lOd. per ton. Spelter, unchanged, at £26 lis. per ton.

£ 9. d. £ b. d. Eqnitable Ijiiildin? 10 5 0 — N.Z. and Eivar lHate 2 10 — Weil. Investment 0 11 3 — Well. Trust nnd Loan ... 7 12 6 — Well. Gns (third issue) .. 11 10 0 — N.Z. — 17 10 0 Well. Woollen (ord.) - 3 17 6 Weil. Woollen (pref.) — 3 2 6 Tannin Coal 10 9 — Westport Coal — 17 6 Taringamutu Totara ...... — 2 8 0 C ?,! linn!;?. Ltd - IOC Crown Brewery 2 0 0 — Golden Bay Cement 12 6 13 0 N.Z. Paper Mills 10 0 — Sharland'5 preference .... — 14 6 Ward and Co — 5 12 6

1911. 1910. Butter, (r\7t. 3-02.922 356,"49 C'leeso. cwt <39,193 451,910 Ueef. mvt KAMI 507,605 JIutton, cwt . 841.13*1 934.543 .iiul pieces, cwt. 3*2.320 45.975 Lamb, cwt 1.030.533 1.049,675 Wheat, bushels 1,254.497 l,2?*,3 r >J Oats, bushels 73.126 444,152 Potatoes toua ....... 1.254 506 TTemp, tons 19.360 20.740 IV.bbits, cwt ~ - • 97,370 E6.M1 Tow. tons 3.285 4.505 Krmri sum, tons 7,687 8,662 Grain and pulse, bush. 243.C81 Hons, cwt 1.231 3,854 IIMes. No 128,836 175,157 Skins, No 15,124.610 17,568.(180 Tallow, tons 29.7C2 25.967 Timber, sup. f3et 83.048.649 Wool, lb 163,461.781 204.38tS.895 Gold, oz 455,186 478,279

£ £ £ Bullion 35.»001 33,M5.000 32,015,COO Reserve «T>,!X/).OW 23.62:2.0!).) SM^.UX) Koto circulation UB.CSS.UOJ • i!9.iav(X) -27,6: S.tfJO Public Doposits liMI-D.lQ.) 1I5 # !j7/.(X)0 8.7i)6,DiX) Other Deposits 42.7JG.0JQ 4y.35:2MJ <0,340,000 Proportion of rcservo to liabilities ... 4G.97 35.83 , 47.83

Variations m cooipaiod Prlc«. Tvitla . last week. £ q. d. 2$% Imperial Consols 78 15 . 0 20s. higher 4 „N.S, AV.19.)3Jp.u.-July 105 10 0 Unchanged *3i „N.S.W. 1013 Mar.-Sop. P'J 0 0 .10s. iii^ucr 8 ,.N.b,W.l'J3j Apl.-Ocfc, 87 0 0 Und'an^od 4 Vie. 1020 Jan.-July 10110 0 Uud'anned 3i „Yic. 1921-GJan.-Ju!y M i0 0 Urchanged 3 ,, Vic. ll'-'J-J9J:m.-July 64 10 0 Uncbam/cJ 3i „S,A. ISlli Jan.-July 07 0 O Unchanged 3 ,S.A, lJl'i Jan.-July f-5 O 0 10s. lower 4 „QTiU91j--I Jau.-July ' 10J 0 0 Unchanged QTdlUJ Jau.-July wti 20 O Un handed 3 „QTdhh!.M7Jiin.-July 81 10 0 Unchained 4, „N.Z. 1923 May-Xov. 103 0 O Unchanged 3i „N.Z. W40 Jau.-Tuly 06 10 0 Unchanged 3 ,,N.Z. Aprii-Oct. fc(i 10 O Unchanged 'ih „ W.A.KttO-iO Afay-Nov A5 10 0 U chunked 3, „ \N .A,101;V:i5i»Iay-N'ov WOO Unch 33 „ Tas. IWOJan.-JuIy 1>6 10 0 Unchanged a ..Tag. Jaa.-July b5 0 0 Unchanged

percrnt. percent, per rent. This week ......... 33 31 3J Last week 3ft jji] M Last year 3a <>3