COMMERCIAL ITEMS

Dominion, Volume 9, Issue 2582, 2 October 1915, Page 8

COMMERCIAL ITEMS

" INVESTMENT 6HAEE3. ' In the investment market yesterday there was a' s»le recorded of; 'Wellington Oas shares (£lO paid) at £16. The quota- . tions were as follow Buyers. Sellers. £ 6. d. £ b. d. National Bank 418 6. , — s , . Bank N.Z. (£3 6s. Bd.) 10 6 0 ■ Well. Invest T. and A. — 0 11 0 1 >' Well. Trust :lioan„.Ltd. 7 8 .6 Well.' Dep. and Hort. .... — 0 7 9 , ' ■ .jChch. : .Gas (£5). 7 8 6 7 10 0

'a«w itoat-:«i) ® Union-.Steam lord.) - .u-o.j - Well. 'Woollen '(0i'di),......' 0 : -. WeH.',Woollcn (pref.) ; 3. 5 0 t \Vestport-Stockton. .- T , 054 Leyldnd-P'Brieni '* '1 J 3 ~ Hamiing and 1 C 0."....-...'... -4 14 0 . GoLden Bay Cement; 0 19 0 019 9 • CUSTOMS REVENUE. ■ • -Customs duty collected at. the port. of. Wellington for the quarter ending September' 30, 1915, amounted to £248,729 13s. 2d., ag» compared with. £251,182 Us. lid. for the corresponding period last year, lor the month,'of September,' the smm of £68,804 lis. 9d.-was collected. as against £61,001-19s. sd. for September. 1914. Tho f total amount collected'yesterday was-£<5752 Bs. cd.-: •; , Beer duty collected at the port for the auartcr ending on Thursday lftflt amountr ed to £3393 2s. 2d„ while £1195-15s. lGd. -was collected in duty last, month., Tho corresponding amounts collected in 1914 were £3273 16s. lid."and £1192 16s. 4d. respectively.

: ..WOOL, :SKIN. AND HIDE SALES. , Tho fortnightly sales of wool, skins, and hides were UcJi hy the various, brokers yesterday. • • Messrs. Dalgety and. Co', report:—There was a. good'attendance of buyers, and keen competition'for all good-classes of skins and hides; for-which prices ; weTe a. shade higher than last sale. Only .oddments of wool were offered, all balc3 being held over for. the first main .wool' sale on November 17. . - • • • Messre'.''-Leyin. and/ Co.- report that they offered, no wool except a few odd Xadges, wool'being-"hold-for the-opening salo on November ;,-17..;,G00d .sheepskins showed an advance, of a farthing to' a halfpenny. Other,£ort<3 wero unchanged, and salted and green Were rather easier. - The hide maTr ket was unchanged, cow hides being sompj •what easier. * ' . ' " •• . Messrs.'Murray, Roberts and Co. report:— Wc offered 2300. sheepskins, SCO hide 3 and calfskins, and 'oddinciits of tallow. Only small, lots of wool in bags were- offered, prices being on a. pa'?'with last sale. Sheepskins showed, an advahco of . 3d. j>er lb. for all sound ipelted lines of combing skins. Inferior ana damaged skin 6 were, "however, easier to/the extent of id. ; The market .for hides was • firm for heavy-weight ox and cows, but was .Jd. P&r lb. easier for. lightweight hides*. - Tallow sold aV late 'rates. . Messrs. Abraham and Williams,. Ltd., report offering "a good catalogue .of all classes of produce,'.the hide catalogue-corn-;-prising:-560-,h;de(S. .'and. 400 .. There was good 'C'6mis§titi'oi;.f6t t * best skins, and these wevo a. faxthing better than last sale. Damaged and inferior .skins were.-easier by a farthing. l . Hide© werer'at: pari The New s : s&a3and Loan/and/. Mercantile* Agency 'COfnpfnny, Ltd., report that only" wool ini bags was offered and this brought late, rates.- Sheepskins .were keenly competed for at prices; in 'the case of fullwoolled skins, free.from seed id. to id. higher than last-sale. ■ Thero was good competition for hides, and calfskins,.and priceswere- rather: higher than of'late for 'tlie former., " ' • ' : Messrs..WY-and G. Turnbull and Co., Ltd.,. reyoi-t that combing sheepskins eho'wed an advance, of !Jd.-per. lb.,vwhilet the few cloth-, ing sorts which'ivero "offered ■ were slightly in buyers' ■•favour..;'. Hides sold on. a- par with last sale; and'calfskins paT* to. advance. Tallow sold iat'-'late, rates.;* .Very 'little wool wae offering. ; ' . * - Successful tales, were , -hold by- tho United Farmers' Co-operative Association and the Wairarapa Farmers' Co-operative Association. JThe i ; ahge of prices wae as under:—. •' . • Sheepskins.—Halfbred, lOd.; *flne •* cross.bred, 91d... to IOJd.; medium to-coarse bred; Bd. to 101 d.: short to .half : wools,'. 5d., •to 7id.; dead and damaged 6d;" to Bd.; inferior.and badly-'damaged,; 2d,- to •fid.; Lambe»; 8?d. s :.to 9id.; damp, salted,-:/and; green", ss'. 6d. - te'lOs.";. pelts;-.' r l-s. Bd.j* lq.mba,; salted, ,1s;- 3dv.'-to-. Isl' • ' ■ heavy, lCgd. tb'alid.; ox, mediiim, ICd.Uo-10 light, Bid. to' BSd.;. . cow 7 *hed-vy»J-'M. to"«.od;t'-;cow,' medium, B|d. to 9Sd.; cow; light, 8d;---to 83d.; cut, slippy and inferior, od. to' 73d.; bull, stag, sjd. to 6gd.; yearlings, 6d. to Bid.; calf, eu-. ; pcrior,. 10d...t0 10; 3-Bd. ?> t calf, medium- to good. Bd. to iodi;-calf. damaged. Jid,'to Bgd. . -Tallow.—ln-casks, 245. 9d..t0-255.; in_tins, .etc,• .17s.' 3d. to 255. . ' • Habbit 'skins. 4id/ to* 5Jd.-; - horse hair. lOd. to Is.; cow tails,. Is. 4d. •

SOUTH BRITISH INSURANCE COICPANY. v ANNUAL REPORT. • ■ By Telegraph.—Press' Association. . .. Auckland, October 1. . •i The : annual -report -pf -the Spjitli British Insurance'. Company Estates ithjett?: tDie?- Set .premium Teveiiue amounts tor £553,-29.6- lis. 2d., the-income from interest , and rents received and accrued ia £42,898 4a Id., the total'-being £556,194 15s. 3d. After making full -provision for losses outstanding, there is a surplus ill. the underwriting, account -of £67,116 3s. Id; 'Income from"interisfc"and rents amounts to £42,898 4s. Id.,' to which has to be added -a balance irom August, 1914, less the dividend.paid-in.'October, 1914 (£57,060 15s;. 5d.), making the amount at the credit of'the profit and loss account £147,075 ) 2s.- 7d. This'last has been dealt with ih. the following manner;—An interim, dividend of 2s. 3d. per shhi'e was paid in-Aprii, 1915; £22,500; transferred to -reserve fund, £20,0C0;..t0 .investment .fluctuation fund,< •£20;000; to' Auckland leasehold sinkingfund,; .£200; to tha London'leasehold sinking' fuiid, £225; contribution to officers' -provident, and superannuation funds, £4740 ss. lid.; total, £67,665 ss, lid., leaving £79,409 16s. Bd. The directors now recommend the payment ■"of a dividend of 2s. 3d., per share for the half-year ended August! 31, .1915 • (making a total distribution of 4s. 6d. per share), -which iviU-- : absbrb £22.500. 'The payment.of a bonus to" the" staff will' absorb £8500.This leaves to be carried to new account £48,409 16s.

. ; '"SOCTHEKN MAItKETS. v / Christchurch, October 1. ■ There is no change : in the Eroin mar-' kets and mb business doing. The only trade of any importance that is being done is in potatoes. There is now fair inquiry from tho North Island, and durng. tho week a considerable quantity has been purchased for shipment to Australia-. The market is firmer, sales having been made at £5 10s. to £5-155., and it is reported that one - or two lots have changed hands at more money. Offerings are not being very freely

made by growers. There ia some inquiry for,_oatstraw chaff from the North. Island, but tho price offered is low.

LONDON WOOL SALES. By Telegraph—Press Association—CopyrijM. London, September 30. At the wool sales there wis better competition for all sorts at lato rates. Priccs: llidol, Ifiil.; jjafeking, 16d. and 153 d.; Malinga, ISJd. New Zealand: Old, 16Jd., 141 d.: Waipolui, 25d., ZOJd. SHEEPSKINS SALE. . London, September 30. At- the sheepskins sale 5600 Australasian were offered; about 800. were withdrawn. There was a fair attendance. Merino combings were unaltered, clothings a shade lower. Orossbreds combines at par, a farthing lower; clothing neglected.

' iTeesrs'. Murray, Roberts, and Co., Ltd., ;havereceived.. the following cablegram from '•Londonr v 'dated September 30:—Sheep* skins market practically unchanged. Messrs. W. ana G. Turnbull and Co., Ltd., report having roceivod a cable message dated London, September 30, as. follows :~ Sheepskins: Combing, about unchanged; clothing, farthing to halfpenny decline. BANK OF ENGLAND RETURN. (By Telegraph.—Press Assn.—Copyright.) , London*' September 30. The Bank of England return issued for tho -week ended 'Wednesday; September 27, is'as under:—

• Issue Department; ' Note Issue £60,267,000 Gov. debt ..., £11,015.000 • Other Bccuri-• • • ties . 7,434,000 Gold '• 61,818,000 £80,267,000 ' £60,267,000 Banking Depart:, cent. Proprietors' Gov. 6ccuri-. • capital £14,553,000 tics '£31,287,000 'Public de- • Other securi-' ' . posits ... 116,217,000 ties... ... 132,315,000 Other'deposits ... 76,G59,000 Notes 47,467.000 Best, 7-day . and other ' . , bills ... 3.802,000 Coin ... ... 193.000

: £211,261,000 £211,261,000 The leading items of the Bank -of England return afford the following comparison:—- • ' , This week Last week Lastyear £ £ £ Bullion ... ' ... 61.818.000 62.539,000 52.318,000 lleservo ... .47.659.000 49.728,000 36.302,000 Note Circulation 32.500.U00 • 31,623.000 34,975.000 Public Deposits 116,217 000 103.758.0W 22.244.000 Other Deposits 76,689.000 89,188,000 137*387,000 Proportion of ... v -. reserve to liabilities . 24.70 • 25.00 .. • 22.81 •* / GOVERNMENT.SECUBX'EffiS;' ."/v * Tli3> following are the iatest quotations for Colonial Government securities in comparison with those.xulingJast week i—

HONEY MARKET. ,- - The Bank of England,, discount .rate was on January 2. 1914, reduced from- 5 to 45 ■per cent., on. January .22 it was reduced to 4; per cent., and on January 28 3 per cent; J.On July 30 the rate 'was raised to 4 per .cent., and on January 28 ;3 per. cent., and on August 1 it was further Advanced to, 10 "per cent. On August s the rate was'reduced to 6 per cent., on August '7 it' was fux-' ther reduced to" 5 per cent., at which rat« It now stands. :• Bank of France rate is-5 per centos against 4 per cent, laet year. OPEN MARKET RATE. • The open, market discount rate for three months' bills is per cent., as compared with 4 1-16 pei cent, last week and 3J per '.per cent. last year. . 'Short loans are quoted at 4 3-8 per cent., as against 4 3-8 per cent, last week and 2$ r cent. last year: -. - • ■ • COLONIAL AND OTHM'-'PRODUCE, fl; 7 v.";" Wheat. held; Sis. 'paid "for. Blue* 6tem, per Australian'sailer about to load. Flour.—Market .firmi ; . > "...

•Oats.—La, Plata, October shipment, 255. ;6d. Peas — Scarce. Firmly. h01d.... New Zca-. •land nmplee, 625; to 65a* } ; j ßeans^—Market firm; Full'.prices 'prevailing. V ' 1 Sugar.—Market firmprices unchanged. . ' :Ilutter.—Market very.-'firm; 'Danish. still advancing. .' ■ ' Cheese.—Market quiet. . New.. Zealand) 765. to 775. ■ • ;Bradford. Tops—Business in top-making wools at Bradford is dull and small." Prices for tops on the spot:—64's quality, per lb., 39id.; 60's; super, 38Jd.;'60'e, common, 37jd.i 65's, 320.; 50'6,.28id.; 46'5,. 255.; 40's, 230. , - METAL MARKETS; \ Copper.—On the spot, £70 to £72 sg. ; throe months, £7o to £73 15s. 'Tin.—On tho spot, £151'55.' to £151 155.: three months, £152 10s. to £153., ... ; Pig-iron.—Middlesbro' No. 3, 6te. Bd. per ton. ... .Lead.—Soft foreign,'£24 125.-6 d.; at three months, £23 ss. ' j-i . Spelter.—Caeh,. £68 per-ton; forward, £62, Silver.—2333. per ounce standard.

Variation • :-c -.compared • stock • ' • Price. -with . , ' last week. ' £ ,s. d. 2&% Imperial Consols ' 65 1 3 Unchanged i ,.N.S.'W.1933Jan..July 05 1'3 Unchanged 95 15 0 .Unchanged 3& Early Curr 83 5 0 10s lower . 3, '„N'.S.\V.1925Ai)l.-Oct -78 2 6 Unchanged i\ „Vic, 1920 Jan.-July 85 113 6 ,5s higher . .84 ,,Vic. 1921-6 Jan.-July 91 5 0 Unchanged „Vic. 192U-49Jan.-July .76 0 0 .Unchanged 3i „S.A. 1916 Jan.-July 85 5 0 Unchanged '3 „3.A. 1916Jan.-July 70 0 0 Unchanged i „QTdl915-24 Jan.-July 95 0 0 Unchanged 3& „QTdl9-22-47Jan.«July 91 5 0 Unchan^od 3 „QTdl92-2.'47Jan.-July 74 10,0 Unchanged i "N.Z. 1929' May-Nov. 95 0 0 Unchanged 34 "N.Z. 1912-40Jfltt.Jly 83 7 6 Unchanged 3 "N-Z. 1920 April-Ocb 76 0 0 Unchanged 3& C 'W.A. 1915-35 M'y-N'v 87 10 0 Unchanged 3 "W.A. 1915-35 My-Nov 63 "0 0 Unchanged 3$ "Tas 1920 Jan-July 85 5 0 Unchanged 3 "Tas 1920-40j Jan-July 76 .1 3 Unchanged