COMMERCIAL ITEMS

Dominion, Volume 7, Issue 2162, 30 May 1914, Page 8

COMMERCIAL ITEMS

INVESTMENT SHAKES. In the investment market yesterday sales of.National Bank at £5 14s. 6d. and £5 15s. were reported. The quotations . were as under:—

WOOL. SKIN, AND HIDE SALES. Tito fortnightly sales of wool, skins, hides, and tallow were held yesterday by the various firms. Messrs. Levin and Co. Tcport having offered 2000 sheepskins. 400 hides and calfskins, and a quantity of tallow. Sheepskins were firm at late rates, good sorts selling very well. Hides 6howed plenty of competition, heavies showing's, slight advance. -Messrs. Murray,' Roberts and Co., Ltd., Teport:—Wo submitted a catalogue of 3542 sheepskins and 600 hides. The llrmness of the wool market indue'ed the keenest competition for sheepskins, which showed an advance of a farthing per Jb. over prices current last sale. There wn.3 a strong demand for hides at about last Edle's range of values. Up to 93d. was paid for a few very stout ox liido3. the average value of heavy ox ruling at about 9d. to 9\d. Tallow sold o.t about lost rale's trainee. Messrs. Palgnty and Co. sWte that competition wfts keen throughout, and prices for all lines were'on a, par with those ruling at last. sale. The firm again offered a. large quantity of opossum skins, which waro keenly 6onght after, 1 best sorts brillsIns us to 7s. Id. each.

Tlio Jfcw Zealand Loan and Mercantile Agency Co., Ltd., report that only bap lots ol' wool wci'o offered, ami for these full prices were obtained. Sheepskins were eagerly competed for at the level of last •sale's rates. Hides and calfskins were in pood demand at about late rates. Tallow is oomewhat lower in price. Tho United Fanners' Co-operative Association, the Wairarapa-Farmers' Co-opera-tive Association, Messrs. W. and G. Turnbull and 'Co., and Messrs. Abraham and Williamo also report successful sales. Tho range of prices 'writ* aa under:— Sheepskins—Super fine crosMircil and halfbred,' BJd. to 9id.; crossbred line, BJd. to 9d.; cro. s 9bred medium coarse, BJd. to 9d.; crossbred short to half-wools, 7id. to BJd.; dead and damaged, s£d. to 72<1.; inferior and • badly damaged, 2d. to 6.\d.; lambs, 7d. to 82(1.; damp;-salted, and' green, 2a. to 9s. 3d.; Hide?—Ox he:j vy, 9d. to 9[?d.; ox medium, 6Jd. to 82d.; ox " light; 81d. to 83d.; cow heavy, Bd. to 83d.; cow medium. BJd. to Bgd.; cow light, Bid. to BJd.; yearling?, 6d, to lOid.; damo.ged, cut. inferior, 61-d: to BJd.; built? and rstaga, Qid. t-o G£d.; calf super, lljd. t<i 12d.; calf medium-good, 9jid. to 12fcd.; coif, damaged, sd. to lOgd. TallowCasks, 23sV"9d. to 275. 9d. per cwt.: tins. 13s. to 255. 6d. per cwt.. Babbitskine. 61d. to 92d.: opossum skins. Is. 3d. to 7s. Id.; horsehair, 16. 3d. to Is. 7d. CUSTOMS BEVENUE. The Customs (hi&A collected at tho port of Wellington amounted to £3022 17s. 3d. SOUTHERN MARKETS. (Br Association.) Christchurch, May 29. Tlie Ohristchurch grain market is practically at a standstill, there being littlo doing, in wheat and oats, and nothing, in barley. The offerings by growers are very Hmited, and. except for wheat, there is littlo demand. The potato market is .dull, as supplies now in merchants' hands are sufficient for requirements. Some buyers are only offering £2 15t?., but there are few fillers at this figure. Those who have not yet pitted their crops arc asking £3 at country stations." Buyers are, however, not anxious to- do business even at the lower figure. The northern market is well supSlied, and few fresh orders arc coming to and. . .. BANK OF ENGLAND RETURN/ By Tolegraph—Press A-=eocintion—Copyrigh t (Roc. JFay 2D, 9.40 p.m.) London, May 29. •Tho Bank of■ England return issued for the week ended Wednesday, May 27, is as under:— 16SFK Dkpartmrn'T * XeUlßiu* -5:2.700.G00 Gov.debb' — £11,015,000 OthersoeuriClO3 - ... 7,434.000 Gold d 4 .'251.000 f52.T03.000 " £52,700.000 Binxiko Depjmtmrxt. . Proprietors' - Govt, eacuvl* capital £14,503.000 ties £11,047,000 rublic d«- - , Other s«curinosits ...19,015,000 ties... ~..41,461,000 Otbertia- . \ posits ... 41.249.C00 ». 23.767.C03 Beat, 7-day- / and ofch«r bills 3.155,000 Coia .... 1.697.0C0 £77,972,000 £77,972,000 The leading items of the Bank of Entr* laud return afford the following compart* ton:— Thiswstk Last troak Last year £ £ £ Bullion 34.251,000 34.201.000 36.286.000 Resorv* 25.464,000 25.7-21.0U0- 27,897.000 Note circulation ' 28.670,■CUO 28,269.000 Public Deposits 10.015.UC0 I'J,'C9,CCU . 13.863.0C0 Other Deposits 41v3i9.000 39,156.000 39.715,000 Proportion of . reserve to liabilities . . 42.24 43.60 52.01 GOVERNMENT SECURITIES. The following arc the latest quotations for Government securities-with a comparison of those ruling la6t week,:—

EUROPEAN MONEY MARKET. The Bank of England rate was, on February 8, 1912, reduced from 4 to ,3s'per cent., ami on ilfly 9 it vcas further reduced to 3 per cent. Oh' August 29 it was raised to 4 per . cent., ami on October 17 to 5 per cent. It was rmhiced to 4i per cent, on April 17, 1913. On October 2, 1913, it was raised to 5-per.cent., on January 2.. it was reduced to 43 per-cent.,, on Jaunary Z 2to 4 per cent., ami on January 29 to 3 per cent. . The Bank of France rote was reduced from 3J to 3 per cent. on. February 23, 1908, and continued at the fatter figure until September 12. 1911. when it was rai6ed to' .per cent. On May 17. 1912, it was reduced to 3 per. cent-., on October 17 it was raised, to .3 Jper cent., and. on October 30 to 4 per centC On' January 29, 1914, the rate was rcduced t<i'3i per'cent. - The Imperial. Bank of Germany on October 24, 1912, advanced ite rate of discount to 5 per cent., .and to 6 per cent, on November 14. On 27, 1913, the rat© was. reduced to 3V per cent., on January 22, 1914, it was rcduced to 4J per cent., and on February 5 to, 4 per cent. MARKET RATES OR DISCOUNT. . . The following ore the market rates for beat three months' bills: • I . '■ London Paris Berlin. rate. rate. rato. per per. . .per. cent. cent. cent. . This week 213-16 2S 23 . Last week 215-16 2$ ' 2B Last yeajr 311-16 . .33 5\ Short loans are quoted at 22 per cent., as 22 per cent..last,week, and. 3J per ccut last year. - '.

COLONIAL AND OTIIER PRODUCE. WhiJnt- —Tile market is (hill; 36a. IOJd. is 'offered for West Australian. Australian, on spot is quoted at 38s. ,6d. -.Flour is slow of talc. Australian patents, 25'.' Gil. ex stor«. Oats aro quiet. La Plata, June-July shipment, 16a.... Beans and pea's are quiet- arid'.unchanged. Butter is quiet- and unchanged. Cheese.—Slightly better business,. doing. New Zealand white..-605.; coloured, 635. to 645. Bacon is duli. Australian Cumberland is worth about 58s. Sugar.—German boet, 88 per cent, net titre. Id. higher at 9s. Bd. ner cwt-.; first marks, granulated, f.o.b. Hamburg, lid. .hisrhcr at lis. 9d. Bradfori[ Tops.—The market '"is quiet. Sixty-fours. Slid..; super sixties. 30d.; common sixties, Z9d.; fifty-sixes. !4d.; fifties, Eld.: forty-sixes, 17d.: forties, 16id. Wheat—Dull; 365. 10jd. was offered for West. Australian. Australian, on'- spot, 38'. 6d. Flour'.—Slovr. Australian patents, 265. 6d. ox store.. i Oats—Quiet-. La Plata. June and July, 16*5.. Beans and Peas.—Quiet.- Prices unaltered. . Butter — Oaiet; pricca unchanged. Cheese.—Slightly better. Business is doing in New Zt-'land white at 60«.; coloured. at 636. a.n<l 64e. • ■ Bacon.—Dull; Australian and Cumberlands, worth about 58s. . THE METAL MARKETS. . ' Copper on epot-, Is. 3d. higher (it £63 3s. 9d. pel- ton; three months', 6s. higher at £63 15s. Tin on Spot,—£4 lEe. lower at £145 ner. ton:-t,hreo months'. £4 10s. lower at £147. Pie Iron.—Middle?boro', No. 3, 2d. higher, at 51s. 3Jd. per ton. SILVER. ' . London, Mnv 28. Bar silver fa quoted at 26 13-16 J. per ounce (standard. VICTORIAN PRODUCE MARKETS. Melbourno, May 29. Wheat-. 3s. lid.; flour. £9: oats, if. 9d.' to 25.; barley, English milting. 3s. to 3s. 3d.. Cape, 2?. Id.- to &•'. 3<l.;.l>rnn, £5 fe.; pollnnl, £5 15?.; maize, 6tl. !-•> 3s. jd.; potatoes, £3 10s. to £5; onions, £6.

Buyers. . Sellers. £ s. d. £ s. d. National Bank 5 14 3 — Kquitablc Building 9 5 0 — N.Z. and River Plate 2 2 6 — Well.' Investment 0 11 1 — Chrifctcburcb tic# 7 5 0. — Palmereton N. Gas 10 5 0 . — Wellington..Gae (£10); 16 6 6 16 7 6 National Insurance 2 12 6 — 8.B. Insurance 410 0 . ~ Standard Iueurance 1 14 6 — Ohristchurch' Meat 16 12 6 — Meat Export. (£4) 5 0 0 — N.Z. Shipping — 16 0 0 Imton Steam (ord.) 15 6 1 610 Union Steam (pref.) 113 —■ Woolleu 3 13 6 — Well. Woollen (ord.) — 414 0 Well. Woollen (pref.) ... 3 2 6 — Westport Coal 1 11 0 — Leylaiid-O'Brien — 13 3 C. M. Banks, Md 1-26 — Mauniug and Co — 4 10 Ward and Co 5 0 0 5 1 6

Variation _ . cempaied . " Prict. Trith • . Ifl-Rt -week. • £ «. A. 2J% Imperial Consols v> -74 17 6 5s higher . 4 N.S.\V.202yJao.-Jnlir'3Dj U 0 Unchanged' ii ,N.S.\V.lQUO-oOMivSp 100 0 0 Unchanged 34 „N.£.W.-Itc0-50 02. 0.0. . Uncbangod i i K.Ji.W. lfiS Apl.-Oct ' fci U 0 20s lower' 1 „ Vic. 1920 Jan.-July . 102 0 0 . .Unchanged 3i „ Vic. 1921-ti Jan.-July U6 . 0 0 Unchanged 8) ,.Mc,-t£5y-49 10 0 0 •■Uncbangod -•3 . 1 .-Vic;'19 , 29-4UJan.-July... 81. 0 0- . Unchanged, 3i t ,S,Ai.J91t>Jan, -July • ; 03 0 .0 ..Unchanged' 3 , S.A. 1016 Jan.-July 75 0-. 0. i,0s higher 4 „QYdl01.>'24,Un..JuJy jW. 0" 0 20s higher < 31QVdlOi-i-tfJan.'-July •* i?7 0 0' Unchanged y , tjTdltf2:M7Jan.-July 'bl 0 U , Unchanged. < „N.Z. 1929 May-S«v. 103 10 0 70s higher 3* ,.N.Z.ll)l!M0Jau.-Juiy " HI 0 0 20s lower 3 „N.Z. 1KI0 April-Ocfc. bi 0U 20s lower 3'i „W.A. 1015-36 U-2 O 0 Unchanged 3 „\Y.A,ll>ln-b5Aiay->»ov b7 fl 0 Unchanged 3i ,,1'as. llfcOJan.-July L'2 u 0 Unchanged 3 „Tas. 1920-10 Jan.-July fc'J 0 0 Unchanged