COMMERCIAL ITEMS.

Dominion, Volume 5, Issue 1533, 31 August 1912, Page 8

COMMERCIAL ITEMS.

INVESTMENT SHAKES. A sale of Taupiri Coal 1 at 233. was the only transaction recorded yesterday. The buying and selling Quotations were as under;— Buyers. Sellers. £ s. d. £ o. d, Bank New Zealand ...... 11 0 0 ' — National Bank 6 0 0 — Equitable Building — 10 0 0 National Mortgage — 4 10 Foilding Gas 10 6 — Well. Gas (pref.) — 110 Moat Export (525. 6d.) ... — 3 10 Well. Woollen (ord.) 3 15 0 4 0 0 Taupiri Coal — 13 3 West-port Coal 17-9 — Westport-Stockton 0 2 8 — Taringamutu Totara 2 5 6 2 6 3 Grown Brewery 1 13 9 — Golden Bay Cement 10 0 110 N.Z. Con. Dental — 12 0 Sharland's ordinary — 13 0 Sharland's preference ... — 13 3 Customs duties ■ collected at the port nf Wellington yesterday to £1254 2s. 6d. . ■ ; ..- KOTTJKU;, OIL PROSPECTS. (By Telegraph.—Press Association.) Dannevirlie, August 30. A commencement was made with boring operations, on behalf of the Kotuku Oilfields Syndicate, at Waipatiki yesterday, and will be proceeded with night and day in the future, a 9 soon as the necessary accomodation for the men has been provided. Tho boring plant is probably, the best in the Dominion, and will be supplemented by others shortly to arrive. A feature of the operations is the utilisation of the escape of natural gas, a quarter of a mile from the bore, ns fuel for driving the machinory, which will mean a big saving in the. working cost; 'Tills ■ gas: audi 'smaller escapes in other parts are indications taken to denote the presonce of oil. They were first discovered accidentally come time ago by a lad. and were formerly frequently on fire for.months. The syndicate possesses options over an area of about EOOO acres. The capital involved is all foreign; and the possibilities of the field mil bo thoroughly tested.- The company is fully aware of the nature of the gamble, but is prepared to take the risk in the hope of a big reward. . GRAIN AND PRODUCE. Christchurch, August 30. The general tone of. the grain market appears brighter, though not much business doing. There ia lio move in wheat, but a firmer tone in outside njarkets gives some confidence to holders, though even if space were available, there would bo no profit in export business at present prices. Oats are in a better position, so far as priccs are concerned. There is good inquiry in view of the small amount of spacc available. • Growers, however, are not offering cither wheat ,or oats, as thero is more urgent-work to .be.-.done by teams than delivering grain.,: ..potatoes are firm at £7 a,t country, stations.,' A heavy shipment by the' Moeraki on Thursday gave good clearance of stocks on hand. Further buying will, no doubt, largely depend npon tho Sydney markot after the arrival of those now going forward. LONDON MARKETS. Messrs. Dalgety and Company, Ltd., Wellington, have just received' the following cabled information from tlieir London office, under date of to-day.:—Frozen Meat: —Mutton: Priccs are Id. to }d. higher since our last cablegram. Lamb: Prices are Ad. to sd. lower. ' Beef: Prices are Id. lower. Tallow (mutton): Since our last cablegram prices are 9d. higher. For good colour mixod, and for beef, prices arc fid. higher, and; for low and inferior descriptions prices are par to 3d, higher. VICTORIAN PRODUCE MARKETS. Br Telegraph—Press Association- Copyright Melbourne, August 30. Wheat, 4s. 4d. to 4s. 4Jd.; flour, £9 to £10; oats, firm, with active inquiry; New Zealand Id. to 3s. 3d.; maize, <s. 2d.; bran, £5 155.; pollard. £6 10s.; potatoes, to £12; onions; £18 to £19. BANK OP ENGLAND RETURN. By Telegraph—Press Association—Copyright (Rcc. August 30, 9:40 p.m.) London,, August 30. The Bank of England return issued for the week ended Wednesday, August 28. Ie as under:— ISSUE Department r ■ Hota Issue £58,818,000 Gov.dobt ... in,015,000 Other securities ... .. 7,434,000 Gold 40.309.000 £58,848,000 ' £53,848,000 BANKING Depahtmkht. proprietors' Govt, socurlcapital £14,553,000 ties £13,368,000 Public de- Other securiposits ... 17,234,000 ties 36.370,000 Other deposits ... 45.417.000 Notoi ... 20,665,003 Best, 7-day and other bills 3.538.003 Cain 1,339,000 \ '■ — £80,742,033 £80,742,000 The leading items of the Bank of England return afford the following comparison:— This week Last week. Last year Bullion ' 39.634,000 .40,636,000 Reserve 30.DfU.C00 30,108.003 30.302.UW Note circulation W, 103,003 Q9,254,000 MSO.OOO Public Deposits 17.554.01)0 10.703,000 othor Deposits 45,417,000 42,600.000 12.812,!®) Proportion of * reserve to liabilities ... 49.40 *0.60 56.03 GOVERNMENT SECURITIES. The followine are the latest quotation! for Government securities, with a comparison of those rulins last week:— Variation - — * compared Price, with last week. £ s. 0. 2}% Imperial Consols 75 7 II Es lower 4 N.S.W. 1333Jau.-July 102 10 0 Unchanged 3i „ N .5.W.191S Mar.-Sep. 07 U 0 Unchanged 3 ~N.5.W.1935 Apl.-Oct. 55 10 0 Uncllftiu'ccl 4 „\ic.m)Jan.-July 101 0 U Unchiuiseil 34 „ Vic. 1921-li Jun.-July IT) 10 0 Unclmuyeil 3 „Vie.lo2U-4BJan.-July Bi II 1 Unrhanucd 3$ „S,A. 1910 Jau.-July 94 10 u Uuchaugod 3 , S.A. li) 16 Jan.-July 79 0 0 Unchanged 4 „Q'rdlols-24Jan.-Jnly 101 0 0 :0s higher 3i „Q'rdl924-30Jan.-July D 5 0 0 Unchanged 3 „«Tdlo2J.47Jan..July ,82 0 0 Unchanged 4 „N.Z. May-N'ov. 102 10 0 Unchanged 3i „N.Z. 1910 Jan.-July 91 0 o Unchanged 3 ..VZ. IH.'.Aiml-Oct. 81 0 0 Unchanged 3i „ \\. A .IIKO-40 May-N'ov 94 10 0 Unchanged 3 „ \\-A,1015-35May-Xov tifi 0 0 Unclißnged 3j ~l'as. JWOJnn.-Jiily 93 0 0 Unchanged 3 ..'t'as. 1923-40 Jan.-July 84 0 0 Unellnneed BANK RATES OP DISCOUNT. The Bank of England ruto was, on December 1,, 1910, lowered from 5 to JJ per k.ceatcj on January. 8? It jtaa lowered 1q jL

per cent., on February 16 to 3J per cent., I and on March 9 to 3 per cent. On Septem« her 21 -it was advanced to 4 per cent., | on February H it was reduced to 3J per cent., aJid ou May 9 to 3 per cent. On August 29 it was raised to 4 per cent. The Bank of France rate was reduced from to 3 per cent, on January 23, 1908. land continued at the latter figure until September 21, 1911, when it was raised to 3i per cent. On May 17, 1912, it was reduced to 3 per cent. The Imperial Bank of Germany Teduced its rate from 5 to 41 per cent, on February 6, and on February 19 the rate was further rcduced to 4 per cent. On September 19, the rate was raised to 5 per cent., and on Juno 11, 1912, it was reduced to 4J per cent. MARKET RATES OF DISCOUNT. The following are the market rates for best three months' bills: — London Paris Berlin rate. rate, rate, perccut. percent, percent. This week 33 2i Last week 33-16 2i 4 Lafit year 215-16 2J 33 Short loans are quoted at 2 per cent., as against lis per cent, last week, and 12 per cent, last year. COLONIAL AND OTHER PRODUCE. Wheat—The markets are fluctuating with the weather. Optimistic crop estimates of the United States and Canada, and the prospect of large supplies from Russia, are counteracting tho effects of the rains; 40s, 6d. is asked for Victorian off coast, 40s. 4Jd. for South Australian. Liverpool futures: October 92Jd.; December, 89gd. Australian, on spot, is in smaH supply, and is nominally at 425. 6d. There is no fair inquiry for New Zealand long-berry at 415.. ex store. Hour is quiet. Australian, on spot, 27a. to 275. 6d. Oats are meeting with fair trade. "A" Grade Gartons, September shipment, 235. to 235. 9d. c.i.f. Peas—There is a limited business; Maples, September shipment, 375. c.i.f. Beans are quiet. E store, 375.; shipment, 355. Butter is very quiet. Danish,, 1295. to 1325.; colonial nominally unchanged. Cheese is steady. New Zealand, 55a. to 565. (?) Bacon is steady. There is a good demand for Australian Cumberland at 625. to 64.; Wiltshires, 70s. to 725.' Sugar.—German beet, 88 per cent, net titre, 9d. higher at 12s. 3d. per cwt; first mark granulated, f.o.b. Hamburg, id. lower - at 14b. Bradford Tops.—The market,is firm and unchanged. THE METAL MARKETS. Copper, on spot, lis. 3d. lower at £78 16s. 3d. per ton; three. months, 6s. 3d. lower at £79 6s. 3d. Till, on spot, 30s. higher at'£2ll 15s. per ton-; three months, 40s. higher at* £210 15s. per ton. Pig-iron, Is. 6d. higher at 635. Bd. per ton. Spelter,- £26 10s. per ton. •