COMMERCIAL ITEMS

Dominion, Volume 11, Issue 244, 3 July 1918, Page 8

COMMERCIAL ITEMS

INVESTMENT SHARES. Yesterday's quotations for investment snares ivero as follow:— liuyora. Sellers. „ . -C a. <1. £ s. d. National Bank 5 7 0 — Hunk N./,. (old) 12 0 0 — Well. Investment — 0 30 9 Chrislchurch Gits — 517 6 Jluddart-l'a.'kcr (ord.) ... 1 18 6 1 19 3 Union Steam (pref.) — 110 Tail pin Coal o 18 fi — Westport Coal 19 3 — Waipa Colliery — o 17 6 Kauri Timber (335.) 18 0 — ficyland-O'firien — 1 710 (iulonial Sugar - 21 b tl Golden Hay Cement 0 17 9 _ JIONHY MAItKET. „ Tlio local money market is (says Die 'Jf.Z. Trade Ileview") at present somewhat colourless; that is to say, there is still an ample supply of funds available, duo principally to the large amount paid out by the Imperial Government on account of our produce, whether shipped or not, and theso pnynients to date amount to close on 70 millions, also to the largo Iftcal expenditure of loan money by tlio Government. In normal times the mouov market hero is largely controlled by the relationship of imports and exports, and consequently a fail' gauge of the monetary position can lie made by a comparison of

these trade returns, but matters are very different now—wool is paid for on spot, 90 per cent, is adv?inced against dairy produce in store*, and now the Imperial Government has advanced three millions against frozen ineut in store awaiting shipment. Ju (his direction the imperial Government has treated tftuv Zealand reinarkablj' well, and has contributed to a very conaidcrablo extent towards tho present satisfactory financial position of the Dominion. Good prices and prompt payment have put a largo amouut of money mio immediate circulation. Not only is there ample capital available here on the spot, but the Bank of New Zealand holds a very large sum in London in a form readily available tor transference here should occasion rise. The prosperity occasioned by war prices for our produeo has caused such au influx of funds here that (lie Government has been able to raise loans to an extent never dreamt of prior to the war. Since the outbreak of war the Government has raised loaus for war purposes amounting to £36,558,915, also £9,000,C00 for public works, land settlewithin New Zealand (also X19,d"6.575 in London). Besides this large amount of Joan money the people of New Zerdaud have (Contributed £4,774,800 in money or goods for various patriotic funds, also a large amount in money and ffoods sent direct to overseas renel projects. This all shows that New Zealand is remarkably prosperous, largely as a result of the war. After the war there will come a period of readjustment, when prices may not be so good and money much less plentiful, but the banks have this in view, and are providing accordingly to meet the after-war conditions. Customs dulies collected at the port of Wellington yesterday amounted to £1966 cs. Ltd.