COMMERCIAL.

Evening Star, Issue 13090, 24 October 1908, Page 8

COMMERCIAL.

THE MESSAGERIES MARITIMES COMPANY. . PARIS, October 23. {Received October 24, at'B a.m.)' A years’ agreement has been concluded between the French Govern* mentand the Messageries Maritimcs CompaHy regarding subsidies,. including. the Ataferahan line. The State will save ’£40,000 a year,. and . will guarantee the company s tew share issue, ■which is designed to renew the fleet. The State reserves right to anticipate- the profits of the subsidised linesf VMONEY AND MARKETS. Press Association—By Telegraph—Copyright LONDON, October 23. ■ Bank Returns Discounts.—- ■ The Bank of England returns show the of gold coin and bullion to be £34,998,000; reserve, £26,195,000; proportion of reserve to liabilities, 51.70. The notes in circulation total, £28,894,000 • public deposits, £4,531,000; other deposits, £46,085,000; Government securi£26 iST’™ * °^ er secur ities, The bank rate of interest is 2A per cent. z r Consols are quoted at £B4 15s. The interest on short loans is J per cent. Three months’ bills—London, U per cent,; Paris, 2*; Berlin, 2|. —Colonial Stocks.— The following are the quotations fat colonial Government stocks, compared with those ruling a week previous : ' c m i Oct. 16. Oct. 23. New South Wales 4’s ICB 108 New South Wales 3}’s 99 99 New South Wales 3’s 871 87 Victorian 4’a 104 104 Victorian 3}’a 100 100 Victorian s,’s 89 88i South Australian 3J’* 99 99* South Australian 3’s ... ... 86} 86} Queensland 4’s ... loot 106? Queensland 3}’s 100 100 Queensland 3’s 88 87} New Zealand 4’s 106 i 106} New Zealand 3}s 100 100 New Zealand 3’s 87} 871 Tasmanian 3}’s 98} 99* Tasmanian 3’s 88 88 West Australian 3i’s 97} 97} West Australian 3’s 86J 86} —Wheat and Flour,— The wheat markets are dull owing to large world’s weekly shipments and favorable crop reports from the Southern Hemisphere. There is better inquiry for distant cargoes. Fourteen thousand quarters of Australian January-February shipment and 12,000 quarters of DecemberJanuary shipment sold at 35s 7}d; steamer parcels, January-February shipment, 35s 6d to 35s 9d; Australian spot (quiet), 40s to 41s. Flour is scarce. Quotations : 25s fid to 26s 6d, spot, in London. Considerable sales have been made at Glasgow. Octo-ber-November shipment, 26s 6d to 26s 9d. —Butter, Sugar, Wool.— The butter market is firm. Danish, 129s to 130s. A shipment of Australian butter by the Ormuz arrived in excellent condition, and sold at 118s to 120s, a few lots realising 1225. The sugar market is firm. German, 10s 4d; first marks, 12s 2d. Bradford wool is unchanged. . —Metals.— Copper : Spot, £6l; three months, £6l 16s 3d. Tin : Spot, £133 17s fid; three months, £135 10s. Lead, £l3 6s 3d. Spelter, £l9 10s. Pig iron, 48s fid. ' —The Sheepskin Sales.— (Received October 24, at 8.5 a.m.) At the sheepskin sales 8,000 bundles were offered, including 7,000 Australian. There was a fair attendance, but competition was less animated than at the September sales. There were a fair number of withdrawals. Merinoes and crossbreds sold from par to a farthing cheaper. Best combing were at the September level. The last sale is fixed for December 17. THE SHEEPSKIN MARKET. The New Zealand Loan and Mercantile Agency Company are : in receipt of the' following cable advice from their London office regarding the opening of the sheepskin sales on the 22nd inst. Cross-bred medium and cross-bred coarse arc id dearer. Sales ■ progress firmly. \ THE MARKETS. —Fruit.— This week’s wet weather is certain to have a bad effect on Monday’s business. The Suva steamer has on board but a small amount of citrus fruits. Vegetable marrows, passion fruit, pines, cucumbers, and lemons are in short supply in the market, and should sell satisfactorily. The monthly steamer from Rarotonga arrived m Auckland with a very small cargo of oranges, and it is expected that prices will be almost prohibitive to business. The banana shipment from Fiji sold up to 11s a case. We are supplied with the following prices on behalf of the wholsesale traders, as well as retailers : Oranges.—Market fairly supplied with Sydney oranges, for which there is only a moderate sale, and prices range from 5s 6J to 9s. Adelaide—Navels, 15s to 16s; ordinary, 11s; mandarins, 10s to 15s. Lemons.—Adelaide, 12s ; Sydney, 8s to 9s; Mildura, 12s to 13s 6d. Apples.—Best Canterbury desserts, 8s 6d to 10s; cookers, 361b cases, green fruit, 9s to 10s; Tasmanian choice Stunner pippins, l2s to 13s ; American, 12s*to 13s. Bananas.—Fiji, 9s to 11s; Tongan, 7s to 9s. Asparagus, 4s to 7s per dozen. Pines'.—None offering; some expected on Thursday; nominally worth 14s to 15s. Cucumbers.—Local hothouse, 9s to 12s per dozen; Queensland, 12s to 13s per case. Vegetables.—Lettuce, 7d to Is per dozen. Cauliflowers, 4s 6d to 6s 6d per sack. Cabbage, 2s 6d to 4s per sack. Carrots— Table, 2s 6d ; horse, Is fid to 2s. Parsnips, 2s fid to 3s per sack. Swede turnips, lose, 18s to 20s. Rhubarb, 5s to 7s per cwt. Cocoanuts.—Good demand, 6s to 8s per sack. Honey.—Choice, 4d per lb; 101b tins, 3s to 3s 6d; choice sections, 6d to 7d. Beeswax, Is 3d to Is 4d. Nuts.—Brazil, 8d ; walnuts, 4d to s}d ; Barcelouas, S jd to fid; Japanese peanuts, 2}d to 3d; Fijian peanuts, 2d to 2}d. Preserved Fruits, etc.—Preserved ginger, 7}d; dates—bulk 2}d, packets 3s fid; fifpj bags and layers, 3d to 3}d; prunes, Tomatoes.—New Auckland hothouse. Is 4d to Is 7d per lb. —Produce.— The potato market is in a somewhat peculiar position, in that very small stocks •are held in Dunedin stores. Anything like orders would be difficult to fill at present market rates. It must not be forgotten, however, that a considerable amount of “old” purchases are being effected from Northern markets, and, owing to the quantities still available from the South, it is vory doubtful whether the rise in price can bo regarded as for the rest of the season. New, potatoes are already in Auckland, while steady shipments continue to come from Sydney and Melbourne. Chaff is inclined to be easier, but there is still a steady inquiry for the prime, bright article, at top rates. Eggs are very plentiful, and it is being found difficult to clear all supplies at lid. Preservers are holding off putting down their supplies in anticipation of a reduction in price, which is a doubtful matter. Produce quotations are also supplied : Potatoes.—The potato market continues on the downward tendency, owing to deterioration of stocks and full supplies. Quotations : Up-to-Dates, £3 to £3 ss; Derweuts, £3 ss. Chaff.—The market is easier. Quotations : Prime oaten sheaf, £3 12s fid to £3 15s; medium, £3 10s; light and discolored, £2 12s 6d.' Cheese.—There is good inquiry locally ! and from Ausralia for good old cheese, 1 whini. commands up to fijd Lo.b. from

DOTt'Aof-i Jattoiyji''The; firstfiiipmeiitt'of J cheese Trom ; l^aad'leaTd’Wel> 4 Hngton by the Paparoaon November 19, for the 'Whet of England by the Ripping* ham Grange leaving Wellington on November 24, and from the Bluff per Worrimoo on November 9, . a more than aver-age-shipment going in this steamer. Eggs.—Good demand, lid. Onions.—Victorian, 16s per cwt ; Japanese, 16s; Californian, 17s to 18s in cases. Poultry.—Hens, 4s to 4s 6d; roosters, 5s 6d; geese, 4s to ss; turkeys—gobblers 8d to 9d, hens sd; ducks, 4s 6d to 5s 6d. HIDE'AND SKIN' REPORT. , Messrs Dalgety and Co. report as follows: Rabbits! ins.—We offered an extra-large catalogue' at our sale on Monday, 19th inst. The catalogue consisted almost entirely of off-season skins, which were keenly competed for by a full attendance of buyers. A very satisfactory clearance was effected at prices well up to late values. We quote: Winter'does, 21£ dto 23Jd; second winter does, 18d to 21|d; outg. does, 15id to 174 d; spring does, 12d to 13d; winter bucks, 15id to 17d; outg. bucks, 15Ad to 14id; spring bucks, 12d to 13d. ! Sheepskins.—We offered a fairly" large catalogue at our sale on Tuesday, 20th iust., the usual buyers being in attendance. The bulk of the offerings consisted of merino and fallen skins from high country. Competition was fairly brisk at prices about on a par with late rates. We quote : Half-bred, od to 6Jd; fine cross-bred, 5W to 6d; cross-bred, 4|d to 5Jd; half-bred dead, s£d to 6id; merino dead, to s|d: cross-bred dead, 3£d to 4£d. Hides.—The next sales take place on the 29th inst. In the absence of sales this week last quotations are repeated os under:—Prime stout heavy ox, 6jd to 7^d; ordinary substance, sid to 6£d; sheety, 4d to sd; medium and light ox, 4±d to s±d; heavy cow, to sd; light and medium cow, 4d to 4|d; calfskins, sound, s£d to 6d; calfskins, damaged, 4d to 5d per lb; slopw and damaged hides from id to 2d per lb lower, according to condition. Tal.ow and Fat.—Prime mutton tallow, 20s to 22s 6d; medium, 18s to 20s; inferior, 16s to 18s; best caul fat, 16s to 17s 6d; rough fat, 14s to 16s per cud. DECLINE IN BRITISH TRADE. A DROP OF SEVENTY MILLIONS THIS YEAR. Hie depression in trade, as evidenced by the Board of Trade monthly returns of imports and exports since tne beginning of 1908, receives further corroboration in the figures for August. The total decrease in the value of Britain’s oversea trade for the eight months of 1908 already gone, as compared with the corresponding period in 1907, amounts to no .css a sum than £72,128,234. Over forty-two millions of this is contributed by the fall in imports, while slightly over thirty millions represents the decrease in exports. The rate of diminution shows no sign of slackening. It has, in fact; increased. Over twelve millions were added to the debit side of th© ledger during the month of August, whereas the average deohno for the eight months is only nine mi’lions. As might be expected from the remarkable decline in the year’s imports of the equiva.ent raw materials, the exports of cotton goods, woollens, and other textile manufactures show a serious decline during August. Cotton has fallen by £1,862,861, wool by £851,573, and other yams and textiles by £391,703, giving a total decrease for the month in exports of tihs staple British industry of over three millions. For the eight months to date the figures are not so adverse, but still run to the large total of 135 millions. The worst figures of all, however, relate to the shipbuilding industry. Trade in this direction has been notoriously depressed, and that is amplv verified by the statistics now published. During August the total value of new ships sent abroad was only £319,906, which shows a decline upon the corresponding month of £462,499. For the year to date the decline has been £1,032,249, and the actual value of the trade, done £5,981,915. The figures are not large, but they are expressive.