COMMERCIAL ITEMS.' '

Dominion, 24 February 1913, Page 8

COMMERCIAL ITEMS.' '

' INVESTMENT SHARES. . . • The sales recorded on Saturday were:— Ohristchurch Gas ot £7 lCs., South British Insurance at £5.55. and £5 £s.- 6d.,. and N.Z. Drug at £2 10s. Tlie quotations were 'as under :— .. i - Buyers. Sellers. ' : £s. d; £ s.w National Bank — ■ 6 0 0 N.Z. Loan and Mercantile 0 9 3 — H.z. anil River Plate- •— ■ 2 0 0 Well. Investment ....'... • — Oil 0 Well. Trust'and Loan ... 7 0 0.730 Christchurch Gas :.. . - 712 6 l-'ciicliii'.' Gas — 10 3 -Well:'fins (£10) 16 10 - Well. Gas (second issue) 15 15 0 . — Well. Cap (third issue) :.. 15 5 0 - Well, aas (pref.) :.'..... 0 19 9 1,0 3 N.K... Insurance •'.:....-. 5.4 6' . ■ — N.Z. ■ Shipping ~..'. 16 5 0 — Union Steam - 211 0 Kaiapoi Woollen — 5 6 0 Tnupiri Coal, ..-.:...: - . - 13 0 Wcstport-Stockton : 0 3 9 ■ .— ' Leyland-O'Brien : :.. 16 0 — ■ Golden Hay Cement ■ —, 10 3 N.Z.- Portland Cement ... —' 019 6Hharland's ordinary ...... —■•'.- 1 1 .1). W.E.O.A. .(£5) .—"-. 75 0 ' LONDON HONEY MARKET. VThc stringency, in the' London money market continued', and rates 'are 'high. Short loans are firm at 43 per cent., and three months' bills cannot' be'discounted under 45 per cent, in tlie open market. The, Bank ■of England figures disclose tightness. . The metal reserve, compared with a'year ago, , is two millions p ,lcss, and .'the reserve is short to ,the.6amo' extent. . The "other deposits" are about two millions' lcs3 than last week, arid , about three millions less than a year ago. The proportion of rceorve to liabilities. ia down, to 46:32 per ; cent, .which ia a, dangerous level. A higher bank rote i 3 probable, but the Governor and Court of the Bank of England will try to avoid imposing a- higher 'rato than the 5 per cent, now. existing, and may ■possibly- succeed. Colonial Government' fxi-uritics aro lower, and at current prices the yield is.over 4 per cent. The scrip of the recently floated New Zc'alan;! loan isquoted at 15s. discount,.which would makq the price £97 ss. It is.probable that some weak underwriters are unloading at a ; sacrifice. If as very, likely tho '. underwriting commission was 1 per. cent., those who arc selling" the scrip at lEs. discount Pro still,■ clearing 5 per cent.' . \ " A VETERAN BANKER. / Mr. J. Russell French, tho general manager of the Bank of New South Wales, completed 50 years of service with that institution on February 14. ' On arriving at the bank that morning, according to the Sydney "Daily Telegraph," ho was met at tho doors by the sentpr officers, and was, received with rounds of cheers by all,tho Btaff'-prc&ent. Mr.- Alford.'on behalf-of the staff, congratulated him upon, tho. attainment of his jubilee in the service of the bank, and ' cxpresesd ; their wish that ho. would long continuo to hold the position he so ably filled. Mr. French replied, and. .thanked. them all, in a stirring speech; which was greatly applauded.. During the day he .'was, in,.receipt of'.telegrams, of congratulation'literally in hundreds, and not only from all parts of Australia, but also from beyond the seas.- It niay bo. 'mentioned that in 1872 Mr. French' was appointed to tho inspectors' staff in-New., Zdaland, while in 1887 he was appointed as inspector at the head office in Sydney.' Ho became chief inspector in 1691, andgcncral manager on July 1, 1894, upon the retirement of Mr. Goorgp Miller. ', AVIATORS AS A LIFE RISK. : Apparently the-A.M.P. Society has been asked to take "aviation risks at its London office, for- \vo learn from the "Financier" that thcysoe.ioty has recently given a. clear indication of the line, which will be adopted by' the leading 'offices'.' The board of tlie A.M.P.rlias. decided that any': person incurring 'aviation rwks shall be in future debarred-from effecting a, new policy "unless and: until tho', society's consent- has been granted .to'his following, such hazardous pursuits,';on- such special terms as it ■may consider to bo necesrxi-ry in the cir-cumst-anccs." Also a,: clause- is to be in-, r.crted in all future policiea as follows:— "No amount of insurance shall bo payable under this policy should death result directly or ' indirectly frpm in any way travelling or working on or about an aeroplane, or any,other means of aerial locomotion, unlets the society's.consent to such travelling or working bo endorsed hereon." ', -PRODUCE, EXPORTED. . Tlie values of the principal.products 'ex-' ported from Now- Zealand- during the first half of'the-current month, compared with, the figures for,.the, corresponding period of last year were as'under:— ■'■-.- ;■":.'-• :v,'.v.Feb.,1913:.Feb.. 1912. ■ £,-'? ~£ ■•■ ■•' Butter'- 1 "...'.:..:.....:-. 206.070 ' -.•236,348,. \ ■ Cheese •!....-, , 283.C29 ■ 130,495 c ; Beef „ ■; 23,595,-, ...15,839 - Mutton— ■.-■--. CaTcassos :... 117,581 . • 170,034 Legs and pieces ... 3.465 ■ - 8.059 , - Iximh- ' .117,291' 140,555.-'-'Wheat.- -• -27,. ... 22"; Oats : :...;-', 5,850 2,42 i:.;. Pot-atocs : ---•'-■.33fi.,-. •■ 313 . Hemp'... ,52,088 , 22,374. Tow ' , 5,738 992 , Kauri, gum 49,387 . 32.881 Grain and pulee ...' 1.C31 • 1.-64 ' Hops ■-■: 23 177 ■' TJides: ;11,829< - 6.d9 . , Skins 33.959.' 24.634 Tallow -■ '35,348 '". -: 43,237 . , Timber' - 12,700 :,■ '20,440 Wool ' '.937.677:'., 726,379 Gold, ..,../. 92,829-' 99,636 ■ ''"•• ' £1,993,257: £1,652,569 CUSTOMS.. . ."i. Cnatoms duties. collectod at the,,-port of Wellington:-on Saturday'totalled £1732 25." Id., the'total for tho week, .being £26,686 16s. 3d. The returns-for .each'of the past, eight weeks, compared/with the figures for.'.tho corresponding, period of the., previous year, show, as under:—- ;• ::,'-,.! 1912-13.J ,;i9ll-12.. . January. 4 18.051 15,434 January 11 1 20,057 24,024 January -18 21,491 13,857 . January 25 28.191 . 23.468 February; 1 13,912 12,125 February'B' :... 22,£62 . 24,751 ~ February ..15-.......;...-.'14,'418 ' 11,834 - -February: 22 ~...:......-2«,686 ' 11,255 ' ' :;'.'',. '..'■ .165,068 136,698 - Tlio beer duty collected/for the past week totalled-.£226 -25., -as ,Against ■ £228 for tho corresponding week of last year. '■ ' ..i.r ~~TT ' . .'■ FEILDING JfAItKET REPORT.Messrs. A. H. Atkinson and Co., Ltd., of Feilding, report a medium entry of pigs on Friday, and elow sale. A considerable penning of poultry sold as quoted. Good t-ablo cockerels arc wojitcd, and- would mako good pricefl, also young turkeys. Some" 200 cases ,of peaches, apples, and p«ir3 .wore all (raid at quotations, poaches being mostly second and third grade. For bran and poUuc-d there ia moro inquiry. Pigs: Weaners and slips, 7e., Bs. 6d„ 9s, to 135.;. stores, 15s. to 175.; light porkors, 195., 245., 25?. 6d. to 305.;-lions, Is. 6d„ li 9d„ 25., 2s/ 9d., Ja. 3d., 3e. 6d., 45.; halfgrown cockerels, Is. 6d., 2s„ 2s. 9d.; better sorts, 3s. 3d. to 3s. ?d.-j ducks, 2s. 9d., Is. 6d. to 3?. 9d.; gec'so. ,4s. Sheep dog, £1. Table potatoes, 7s. 6d., 95., a?. 6d. per sack; Bmall lwgs, 93. por cwt.; pig potatoes. Is. ■ per rack; bran, 65.; pollard, 125.; peaches, 2s. Cd..' 3s. 6d. to 4s. 9d.; apples, Is. 6d. to 2s. 6d.; pears, ?s. 6d.to is. 3d. per haltcasn; onions, 12s. per c-wt.; tomatoes, 35.to 3s. 6d. '

. OAMARU GRAIN MARKET. (By Telegraph.—Press Association.) Oamaru, February 2.3. There has been increased activity in tho whent mavkot during' the wccl<, tuillcm wanting ntiw wheat for mixing purposes. Tno rata has stopped threshing, and tabs

may have slightly increased the demand. About 15.CC0 sacks were Bold; 1100 eacks of red chaff and velvet were cold «t 06. Bid. net. at country station, but for another line of the same size 3s. 6d. was obtained. Velvet, brings 3s. Clil. to'3s. GJd. net at country stations, lied chaff has brought 3s. 6d. net. delivered at,the. mill, and other lines at ss. sjd. and 3s. 6d. net at, country stations, while the figure for Tuscan r.iiijrcn from 3s. 5Jd. net and 3s. £d., less commission. Marshall's,white chaff has changed hands at 3s. sd. not. A fair amount of husincM has been done in oats, A Brads fJa.rtons sclliiiß at from Is. lid. to 2s. net, and B grade at In. lid. net. Three small lines of malting barley sold at 3s. 7d.,' 3s. Cd.. and 3s. 9d., less conimifdon, at country citations. New oatenshcaf chaff sells at £2 15s. net. Sales of potatoes have been made at about £4 15s. net at country stations. . FHOZEX .MEAT. By Telegraph—Press Association—Conyricht (lice. February 23,.5.5 p.m.) - London, February 22. The Incorporated Society of Meat Importers' Smithlicld market quotations for the undermcutionod claw-es of frozen meat arc based on actual sales of not less than one hundred carcasses of mutton or lamb, or twenty-five quarters, of beef of faJr aver: ago quality. The quotations are not for selected lines, but for parcels fairly representative of the bulk of thu shipments now on tho ■ market. The price's which follow, 'are on'the avcracc a farthins : pcr lb.'more than the values ex ship, this . difference representing the average cost in expense, handling, conveyance, and selling the meal:— . Fob. 15. Feb. 22. Mutton- . d. A. Canterbury, light .- • . ,* . . Canterbury, medium •' ' * (iaiiKii-nnry, heavy * , * Southland ' * * North Maud, best.: 43 4 9-16 North Island, ordinary ... 47-16 4 3-8 Australian, light ......-......' 4 4 Australian, heavy 3J 35, lilvor Plate. light • Itiver Plate, heavy 4 3-16 4i ' New Zealand ' 33 Australian ..ewes ;'....■ JJ 39-16-Rivfir . Plate ewea -.4......... * - *- ; Lamb— • ■ ' ' ' Canterbury, light '. ■* 7 Canterbury, medium , * 7 - Canterbury.-heavy. ;.. ■ •: •-■ Southland ■ * . * North Island, ordinary,... ;6J. 7 61 . North Island, selected |... 65 6 7-16 Australian, best ....; 6J 58 Australian, fair ....: ....' M 53-3 Australian, inferior .' 4J ,' 5J River Plate, first » ' . ',"- ' -Kivcr Plate, tocond • - - • Beef- '.'.-■ , New Zealand,.ox fores ... i\ !\ New Zealand, o\ hinds ... 33 -33 Australian, ox fores ...... 31-16 -33-16 Australian, ox hinds 33-8 •; 3 916 Eiver Plate,. frozen lotcs 3 35. River Plate, frozen hinds 3J , : 311-16 River Plate.chilbd. fores 35-16 33-. Itiver Plate, chilled hinds 43 5} ■ *Nouo offering.' Rabhits are unchanged. Largo torts are firm, but young rabbits are dull of aals.--AUCKLAND CITY LOAN. By Telegraph— Press. Association-Copyright ■ ■ (Ree. February 23, 5.5 p.m.)' London, February 22. The City of Auckland lean for £ICO.OCO in 4i per cent, delienum/?, repayablo in 1936, ha« been.oversubscribed. t . COMMONWEALTH OIL" COMPANY. Bt Telesiaah—Press Association-CoryHgh't London, -February 21. The' reesivcrs of the Commonwealth ' Oil Corporation-have failed to raise a- halfmillion from outside sources,, and it will be necessary for debenture-holders to subscribe it. A meeting will be held on March 30 to consider tho'scheme.