COMMERCIAL ITEMS

Dominion, Volume 10, Issue 3000, 10 February 1917, Page 12

COMMERCIAL ITEMS

INVESTMENT SHARES. Yosterday's quotations for investment shares were as follow:- 5 SlJll , r( . £ s. d. £ »• d. Bank N.Z. (£3 6s. 6rt.) ... U J J ' ~ tUnion Bank 51 10 o Well. Gas (£10) , ~ „ 15 i 0 Standard Insurance ...... J" " _ Well. Meat' Export (£5)... 6 15 D _ Unddart-Parker lord.) ... 1 1 3 Well. Woollen (old.) - ® ± Waipa Goal lie _ Leyland-O'Brien lob Ooldun Bay Cement ...... - 1 Wilson's Cement (prcf.y... 1 °< b +Ex div. FROZEN MEAT JIAUKKT. Messrs. Gilbert Anderson and Co. (Messrs. Mclisoi). Kliotl find Co., Palracrston North.

local agents) report on the frozen meat market, under date London, December 22, 1916, as follows:— Home-grown.—Abundant supplies, which met a bad trade, prices falling considerably as the week progressed. 13ecf and pork in great evidence, including sucking pi«B. Fewer turkeys than usual, fetching about Is. 7d. per lb. Frozen—l*o new season's New Zealand lamb, but old season's still in good demand at unchanged prices. Chilled beef from the Argentine, specially prepared for the usual Christmas exhibition on Smithllold was of particularly good quality, dros6ing and appearancc and was much admired. Advice of Shipments to U.K. Only. Frozen Frozen Frozen Chilled mutton, lamb. beef. beef. Nov, 1916 ... 406,537 357,670 289,031 62,000 Nov., 1915 ... 212,600 234,000 29D.0C0 fc.OOO Markot Prices for' Weeks tending: Dec. 22, Dec. 25, Dec. 15, Home-grown— 1916. 1915. 1916. Beef, side 310 • 1 71- 91 10 -12 • Mutton, wethers 101-121 8 -10 It a-121 Mutton, ewes ... 83- 94 6J- 7j 8j- 95 Mutton, Dutch... 9-10 — 9 -101 Tegs 103-13 Sj- 91 11-124 Lambs lli-15 9 -10j 11 -13 Veal, best 12j-13J 9 -12 12 -13 I'ork, best 131-14! 11 -IS , 12 -13 Fork, middling 114-Ui 85-103 61-111 FrozenMutton: N.Z. lyethers 8J — 83 N.Z. owes 8 6J 8 S. Amcr. wethcri... 83-Ei 6 8 BNI Lamb: New Zealand 91 7J-7 91 Australian 91 — 91 S. American ;... 91-83 — 9J-63 l'ork 9 -103 71-81 9 -10 Chilled: Argentine, 01 fores and hinds 73-91 53-73 81-108 SOUTHERN MARKETS. By Telegraph—l'ress Association. Chrlstchuroh, February 9. During the last two days there has been a large amount of wheat, purchased by millers at the Government maximjim prices, farmers evidently Being anxious to sell before millers fill ttieir present requirements. The discovery of the fact that the price of flour (£ls per ton) isthe maximum, and not a'definitely fixed figure, has, however, disconcerted millers, as thoy learn that flour has been quoted from the south to a northern market ai £14 10s. f.o.b. It is held that the lull Government prices cannot be given for milling wheat, and thus the bbjfct of fixing' a stable price to farraors will, it is contended, be defeated. Fowl wheat is bringing Id. to 2d. per bushel less than milling wheat. A few lines of wheat have also been purchased by merchants. Wheat coming forward is generally rather thin, but otherwise of good quality. There is a good demand for oats, but practically none is offering. Oatsheaf chaff lias been purchased at £3 to £3 ss. per ton at country stations for early delivery. -The grass, seed market is ouiot. as the quantity offering haß fallen off considerably. WELLINGTON /AS COMPANY. Tho report of the directors of the Wellington Gas Company states that there has been a substantial increase in the quantity of gas sold during 1916, and consequently, notwithstanding the large increase during the past year in the. cost of labour and materials, they are in the position to recommend the declaration of a dividend at tho rate of 10 :per cent, per annum. Owing to the impossibility of obtaining . pipes-except at prohibitive prices—vhe amount of main-laying has Seen rest-rioted, as much as possible, and onljr 143 chains were laid during 1916, raising the total mileage to 135 miles. During the year 524 services were laid, and 748 cookers -and 230 bath-heaters were fixed by tlio company. . The half-yearly dividends on the 5 per oent. preference shares were paid in June and December, and an interim dividend of 5 per cent, was paid in August last on the ordinary shares. The directors now recommend a further jiayment of 5 .per cent., making a total dividend of 10 per cent, per annum on the ordinary shares. The profit and loss account, after payment of the dividends on preference shares and interim dividend on tho ordinary she-rca. and after provision of the sum of £3000 towards depreciation of plant, shows a balance of £32,149 Bs. sd. From this it is proposed to dcola.ro a dividend that will labsorh £11,789, leaving £20 360 Bs. sd. to be carried forward, as compared with £21,814 to. Bd. at the end of the previous year. Mr. David Anderson, who has been a director of the company sincc 1890. and who had acted as ohairman during several years, having decided, to 1-hs regret of his colleagues, to retire from the board at the end of September, the board appointed Mr. Gerald Fitzgerald to fill the vacancy. Mr. Fitzgerald retires, from office, but is eligible, and submits himself for election. Messrs. A. E. I'earce and H. Bcauchamp, directors who retire by. rotation. being eligible, offer themselves foi re-election. ~ , The company s sale of gas. residuals, manufacturing, and rents amounted .to : £113,475. Cost of manufacture, manage- ' ment, maintenance of rates and taxes amounted to £82,194. BANK OF ENGLAND RETURN. (Rec. February 9, 5.55 p.m.) London, February 8. The Bank of England return issued foi - the week ended Wednesday, Februari 7, is as follows:— Issue Department. Noto Issue f73.045.000 Gov. debt ... £11,015,01 i! Oilier secuii--4 - ties 7,134,00! Gold 55,400.001 i 73.015.000 J873.915.00i Basking Dkfaiitxf.st. Prnnrletors' Gov.SecUl'lcapltal £11,533,000 Hob... ... £212,397.001 Public de- Other securipOßits ... 42,262,000 ties 38,580,001 "pmfta* -.225,170.000 Notes 34,410,001 Best, 7-day and other bills ... 3,531,000 Coin ' 1.429.C0< £236,816,t00 £286.816.001 The leading items of the Bank of England return afford the following comparison:— This week Last week Lastyeai Bullion 55,496,000 55,270,000 537607,001 Reserve - :)0.639.000 35,514.000 39.E134.0CH Noto Circulation 39,635,000 39,501,000 32,866,001 'Public Deposits 42.262,000 46,764,000 62.641,001 Other Deposits 226,470,000 166,777,000 103,531.001 Proportion of reserves to liabilities 13.33 16.63 24.43 GOVERNMENT SECURITIES. The following are the latest quotation: for Consols and Colonial Government Se curities in comparison with those rulini last week:— 0( „' This Last Stock Week >Yeek 2J% Imperial Consols j () d 0 £ d ( : 3a,, War Loan 84 10 0 66 0 I) .4&„W&r IJOXII <j<) yt fi gg m 0 4 m N.fl.W.lW Jan-Jul,v poo 0 79 10 I) 3$ „ N.5.W.1950-50 Mr.-Sp *$33 e (KM r 3,, 15.8. W. 1925 ApJ.-Oot ( j,. „ _-jjQ i/j n 4 „ Vic. 1920 Jan.-J uly <13 15 0 3J ~ Vic. 1921-6 Jan.-July 81 0 0 SI 12 6 34Vic. 1920-1949 68 li 0605 ~ 3 V' Jan.-Jiy 0 0 eo 15 0 31 „&.A. 1916 Jan.-July 80 15 0 70 0 0 3 ~ S.A. 1916 Jan.-July 70 n 0 57 0 0 4 „OTd 1915-24 Jan.-Jly ai IS il 86 17 6 31 „ QTdl922-47 Jan.-Jly 83 15 0 S3 15 0 3 „Q'l'd 1922-47 Jan.-J lj 60 15 0 61 '2 u 4 „ N.Z. 1929 May-Nov. 8117 F 6-2 2 6 31 „ K.Z. 1912-40 Jan.-Jly 160 is 0 70 10 0 3 „ N-Z. 1920 April-Oct. 00 17 6 60 15 (1 31 „ W.A. 1915-35 My-Nv 74 15 0 74 16 0 3 „ W.A. 1915-35 My-Nov 70 0 0 70 0 0 31 „ 'fas. 1920 Jan-July 60 10 0 69 15 0 3 „ Tag 1920-40 Jan.-Julj 63 0 0 65 0 I) MONEY MARKET. • Tb.i*.-i3ank of England discount rate wa on January 2, 1914, reduced from 5 to ' pjr cent-' on January 22 it was reduce to 4 per cent., and on January 23 3 pi cent. On July 30 tho rate was raised to per cent., and on July 31 it was raised I 8 per cent., and on August 1 it was fui ther advanced to 10 per cent. On Angus 6 the rate was reduced to 6 per cent., 0 August 7 it was further reduced to 5 pc cent., on July 13, 1916, it was raised to por cent. OPEN SIAIIKET HATES. The open market discount rote for thr< months' bills is 51-16 per cent., as cor pared with 5 1-16 por cent, last week and per cent, last year. Xhort loans ai'c quoted at 43 per ceil as against 45 per cent, last week an 41 per cent, last year. COLONIAL AND OTHEK PRODUCE. London, February 8. Wheat.—No London business reporte Prices unchanged sincc January 30. Flour.—Strong demand, limited supplii available. Australian patents, 625. 6d. Oats.—Very firm. La Plata, mixed, e <iuay, 495. I'eas and Beans.—Firm, unchanged. Sugar.—Standard granulated, 41s. yjd. Butter —Inactive, Absence of supplic prices nominal. Steamers carrying ca KOCS aggregating a quarter of a millu boxes are ' due, and several others w arrive shortly. Cheese—Very firm. Canadian, 1505., 15< Bradford Wool.—Very slack mnrkc Business practically at a standstill. METAL MARKETS. Copper.—£l37 55., £133 55.; eleclrolyti £144 10s. Lead—£3o 10s., £29 10s. Speltor.—£ss 55., £52 15s. Tin.—£2oo 7s, 6d., £201 7s. 6d. Bar Silvcr.-37 9-16 d. per ounce slandar