COMMERCIAL ITEMS.

Dominion, Volume 7, Issue 1879, 13 October 1913, Page 10

COMMERCIAL ITEMS.

INVESTMENT SHARES. Tho only transaction, in investment shares Tecorded on Saturday was a. sale of Union Stoam (ordinary) at £fc. Tlio ; quotations weio as under:— Buyers. Seller*. £ a. d. £ a. d. National Bank 5 7 0 — K.Z. Loan and Merc'tiie 97 0 0 — > Well. Trust and Loan ...< 7 2 0 — Well. Gas (£10) 16 5 0 - Well. Gas (prcf.) 0 19 6 Standard Insurance 1 12 0 1 12 b Gear Moat (£4) 12 17 6 . — Gear Meat (£1) 3 9 0 ~ TJnion Steam (ord.) 15 6 16 6 Well. Woollen (ord.) — 1 416 Tauplri Coal 12 0 — Leylaud-O'Brien — 1 J \ Golden(Bay Cement — 0 19 6 X.Z. Con. Dental — 12 0 Ward and Co 4 18 0 — W.F.O.A. (£5) - 7 2 6 W.F.O.A. (£1) - 1 8 0 THE MONEY JIAEKET. There appears to be some stringency in tho London money market, but this i 6 not un unusual condition at thia time of tho year. There is a drain on the Bank of England metal reserve, wliich appears to havo developed considerable strength duriug tho past two weeks. This ma-jr bo seen from the following figures, which givo the bank's coin and bullion holding for cach of the past six weeks, also for tho corresponding periods of last year:— 1913. 1912. £ £ Pept. 3 41,691,000 . 40,938,000 Sept. 10 40.877,000 40,840X00 Sept. 17 40,397,000 40,256,000 Sept, 24 39,107.000 40,263,000 Oct. 1 36.039.CC0 37,440,000 Oct. 8 34,178,000 36,418,000 During the pa6t fivo weeks there is a reduction in- tho metal reserve of £7,513,000, while last year tho demands on the bank amounted to only £4,520,000. The movement was moat pronounced during tho paet three weeks, for during that period tho withdrawals aggregated £6,219.000. while for the corresponding period of last year the total was only £3,838,000. The demand appears to have come rather suddenly, and evidently Paris is tho source of trouble. French bankers ore heavily involved in tlio finances of the Balkan States, and it is not unlikely that thero is an epidemic of default. If the bank rate goes no highor than 5 per cent, thero will be no occasion to be anxious, because the mojiey markets of the world havo become accustomed to a high rate of interest, and tho necessary adjustments have been mndo to meet tho changed conditions. Many shrewd fiiinncicrs anticipate default, repudiation in bankruptcy *>f tho wnakor concerns, and this mortality may in tho aggregate have a very depraving effect. A return to cheap money may be regarded as indefinitely postponed. bemuse there is a tremendous Eoramblo for capital. Tho defence pr/s naraf.ions of tho Continental Powers call for huso sums, while from numerous other States, municipalities,, and similar corporation demand# for development purposes may bo expected.

" EJTHRE MIGRATION. A White Paper of considerable interest has just been Issued dealing with migration during 1912, with particular refereuco to the British Islands and outlying portions of the Empire.' "From this It would eeem that the total nnmbo.r of outward passengers from the United Kingdom to non-European countrka was 656,800, no 0 gainst 623.400 during 1911, whilo passengers arriving from non-European conntrlca totalled 340,700 in comparison with 350,400, the bolanro in faxour ol outward pers being- some 316.1C0 .against 273,000 in 1911. Tho number of- passengers to places out of Europe in 1912, states tho Tetum, waa greater by nearly 22,000 than in 190 V. tho year of tho previous hi?he<?t record. Tho inward passengers iti 1912 numbered nearly 10.050 less than in 1911, but ttero considerably moro than in any other year except 1908. In 1912 tho number of inward wa« 51.9 per cent, of the number of outward, a* compared with 56.8 per cent, in 1911. and 52 per cent, in the 10 years ending with 1912. The total number of passengors by sea direct between- tho United Kingdom and countries out of Europe in 1912 wa*» 997.500, greatest Droviouelv bavip" been 973.900 in 1911. and 928.600 in 1907. The ranpf»ntrers to or from "North Amorist. (United S'atea and British' North Americnl accounted for 74 per cent, of the total in 1912, p« compared with 75 per ennt. in 1911. Of tho British emigrant®, 303,850. or 74.5 per rent., were recorded as proposing to seUlo in ' other parts of ths Empire, including 185,350 in British North \merfca end 92.6C0 in Australia and N«w Zealand: tho number whose destination was the United States v>n<? 94,200. or 23.1 ppr rent, of the total. The immigrants of British nation* eJ.ity included 48.500, or 68 per cent., from ot.her parts of tho British Empire, of which ifl.pflf) were from British North America, 10.400 from Australia and New : Zealand, ond 10J00 from British South Africa. tho United States there came 16,800, or 23.6 p*"* cent, of the total. Tho •number of between tho United Kingdom and the Continent Is given as, inward. 1,149.700. ami outward. 1,075.?00, comparing with 1,115,1C0 ond 1.083.200 respectively in 1911 and showing an inward balance of 74,400. From dota'Vd (statistic supplied it. onpears that of British subiects who left th A United Kingdom durinpf tho year, some 1R6.1C0 went to British North America, to Australia, 13.600 to New Zoo,land, 22.400 to Capo Colony, 1 5800 to Natal. 97C0 to Indian (including Ceylon). and/ about 10,?£0 to other British i colonies and possessions. A point of interest brought out by th« statistics supplied is that, in comparison with tho figures for 1911, an increase of 16.C00 per- : pons left for Australia and New Zealand. When it is romomborod that the 1911 ro* turn showed an advance of some 35,000 over the preceding year tho full signifieanco of these figures will bo the better appreciated. A comparison of the figures relating to Australia fully bears out tho 1 opinion that that country iff becoming ■ yearly moro 'popular with ©migrants. For , tho past five years tho British figures aro as follow:—1903. 33,600: 1909 , 37.600; 1910, 45,700; 1911, 60,800; and 1912, 96,8C0. It is also noticeablo that a decrease is again shown in tho number of passengers to tho 1 United States, only sorao 117,300 British subjects travelling to that country during 1912, ae against 12J.800 in 1911 and 132,2C0 in j 1910. A docrea-so is also shown in the alien I influx into tho States.

SWISS WATOH INDUSTRY. During last year tho Swiss, watch industry wan in a satisfactory state; the exports further increased, anil, says a Consular report. Toaehsd tho highest total yet recorded. Tlie export value in 1912 <i.mounted to .-fv5.512.C00, run compared with £5,281,000 in 1911. the totnl number of watches exnorted b°ing 11,529,316, comparing with 1911 as follows:— 1911. ' 1912. Gold 1,022,948 1,069.376 Silver 3,031.048 3.346.637 Nickel 6,976,654 7,112,803 Total 11,030,650 11,529,316 The United Kingdom was the principal purchaser, having imported .2,647,800 watches. Germany's total was 1,696,000. Ssriss watch manufacturers, tho report Fays, aro Telying on their capacity of production, and on tho quality of their goods, to successfully meet the increasing German and American competition in this industry. CUSTOMS. Customs duties collected at tlie port, of Wellington on Saturday totalled £1331 10s. 2d., tho amount for tho week being £11,903 16s. 9d. Tho returns for each of tho past, eight woelia compared with tlio Ogures for tho corresponding period of the provioua year, show as under:— 1913. 191 Z. August 23 27,014 27,261 August 30 16.876 17.218 September 6 20,434 10,446 September 13 22.26 6 25,132 September 20 22,671 21.553 September 27 11,357 15.3G2 October' 1 21,857 34,496 October 11 11,904 11,713 153,879 164,186 The l>cer duty collected for the mist week, totalled £209, as against £232 Ss. for tho corresponding week of last year. NOTES. According to a Consular report on the trade of Switzerland, _tho Swiss chocolate industry duriug last year again surpassed its previous figures for sales, both at homo and abroad. The exports of chocolates and cocoa rose from £1,884,400 in 1911 to £2,209,300 lost year, of wliich-the United Kingdom took close upon one-third, namely, £642,500 in valuo and 43C0 tons in weight. Tho exports to Australasia wore valued at £242,000 and to Canada £38,700. A return issued .recently shows that on November 20 last thero were 1,870,510 de-positors-ill trustee savings banks in, tho British Isles, to whom £53,811,898 was duo. During thsyoar ended on that date 3,968,283

deposits and 2,136,557 withdrawals had been made. The averagd amount of cach deposit account is given 06 £28 15s. 4d., while the average sum paid in was £3 Us. 2d., and tlio average sum drawn out £7 Is. lid.; £53,506,091 lias boon invested with the Commissioners for the reduction of the National Debt, and the total assets of tho banks amounted to £55,319,159. No banli6 wero closed during the rear.

FEILDING MAKKF7r REPORT. Messrs. A. 11. Atkinson and Co., Ltd., sold on Friday a medium entry of pigs at top price*?. Tlio demand is very lteen for all descriptions, and rates continue higher than in any previous season. Poultry is still maldng particularly good value. Potatoes are selling at any price, vegetables are scarce, and sell well. Quotations Weaner pigs, 17s. 6d., 18s. 6d,, 195.; suckers, 155.; slips and stores, £1 to £1 2s. 6t1.; light porkers and stores, £1 10s„ £1 135., £1 145.; eons, £2 14s. Poultry (per hair); Hens, to., 4s. 6d., 4s. 9d„ 55., to ss. 3d.; roostors, le. to 55.; ducks, 3s. 9d., 4s. 3d., 4s. 6d., 4s. 9d.; turkey hens, 125.; incubator chicks, week old, Is. Potatoes, 6s. to 6s. 6d. per bag; seed, 3s. 6d. to 95.; pressed hay, £4 ss. per ten; chaff, £4 16s ; ryegrass seed (old), 2s. per bushel; cauliflowers, lCfl. per tack; cabbages, 4s.

SOUTH CANTERBtJKT MAHKGTS. (By Telegraphs—Pmsb Associations Oamaru, October 12. A. quiet week lias heea experienced in the wheat market. Velvet is wanted, but none is offered, either because little is held or holders anticipate higher prices later on. The only salo made was one ex store at 4s. 3Jd-» less commission. The net prices paid at country stations havo been:—Bed chaff, 3s. 9d.; Ted Tuscan, 3s. Bd.; eolid straw Tuscan, 3s. 7d. Very littlo business lioß been done in oats. "A" grado Carton's have been sold at 2s. Id. net at country stations, but other sales have been ot 2s. osd. net and Zs. Id., lo3s commission. "B" prade was sold at 2s, net nt country stations, and light quality at Is. lid. More business has been dono in potatoes than for some time past, coastwise orders being the cause.- Purchoees were mado at £2 net on trucks, and up to £2 24. 63., while first-class eampUa havo rooc.li.ed a higher point. Tho voluo now is £2 2s. 6d. net on trucks. DUNEDIN SHOW CHEESE. By Telegraph—Press Association—Oopyriffht (Rc-c. October 12, 5.5 p.m.) London, Octobcr 11. The Dunedin fhow cheoi?e sold for 705.; Canadian is fetching 645. to 665. FROZEN MAT, By Telegraph—Press Association—Copyright (Rcc. October 12, 5.5 p.m.) London, October 11. The Incorporated Society of Meat Importera' Rmithfield market auotations for the undermentioned claseoa of frozen mc&t are based on actual sales of not less than one hundred carcasses of mutton or lamb, or twenty-flvo quarters of beef of loir averego quality. The Quotations are not for selected lines, but for parcels fairly representative of tho bulk of tho shipments now on the market. The nrices which follow are on tho average a farthing per lb. more than tho values es ship, this difference representing tho average cost in expense, handling, conrc.vauco, and selline the meat:— Oct. 4. Oct. 11. Mutton— > d. d. Canterbury, light 43 43 Canterbury, medium 4g 45 Canterbury, heavy • • Southland 43-8 43-8 Kortli Island, beat 4 7-16 4 7-16 {North Island, ordinary 4 3-8 4 3-8 Australian, light 35 Australian, heavy 34 3g Kivor Plate, light * * River Plate, heavy 4 3-16 43-16 New Zealand OWO3 33 313-16 Australian ewce * * Itiver Plato ewes * * Lamb—. • Canterbury, light 53 5 9-16 Gantorbuiry, medium 5 5-16 6i Canterbury, heavy 5 5 Southland 53-16 53-16 North Island, ordinary... ,5J 61-16 North Island, selected ... 5i 6} Australian, best * * Australian, fair * * Australian, inferior • • River Plato. ftrßt * * River Plate, second • ® BeefNew Zealand, ox fores ... 3 31 Now Zealand, ox liinda... 4| 4i • Australian, ox fores 31 3} Australia]], ox hinds 4| -4i River Plate, ox fores ... 3J River Plate, ox hinds 4jv Illver Plato, chilled foro3 3i 3 3-8 Hiver Plate, chilled; hinds 43 5 3-8 ♦Nono offering. Rabbits.— I The market is dull, and prices arc unchangod.