COMMERCIAL.

Evening Star, Issue 14523, 26 November 1910, Page 8

COMMERCIAL.

MONEY AND MARKETS. Press Association—By Telegraph—Copyright. LONDON, November 25. (Received November 25, at 8.20 p.ra.) —Bank Returns, and Discounts.— The Bank of England returns show the stock of gold coin and bullion to be £34,184,000; reserve, £25,888,000; proportion of reserve to liabilities, 51.47. 'The notes in circulation total £28,153,000; public deposits, £11,261,000; other deposits, £39,000,000; Government securities, £14,644,000. The Bank rate of discount is 5 por cent. Short loans are discounted at 5 per cent., and three months’ bills as follows London, 4g per cent.; Paris, 2-iJ per cent.; Berlin, 4| per cent. Consols are quoted at £7B 17s 6d. —Colonial Stoclcs.— The following aro the quotations for colonial Government stocks, compared with those ruling a week previous : Nov. 18. Nov. 25. New South Wales 4’s 1054 106 New South Wales 3j’s 98 97-J New South Waks 3’s 85§ 854Victoriau 4’s 1024 1024 Victorian 34’s 98 975 Victorian 3's 854 854 Queensland 4's 102:; 103 Queensland 34’s 98 974 Queensland 3’s ... 844 844South Australian Si’s 98| 984 South Australian 3’s 854 85 New Zealand 4's 103 1035 Now Zealand 34 s 96 96 New Zealand 3’s 35-; 854 Tasmanian 3i’s 99 99 Tasmanian 3’s 8G 36 West Australian 34’s 96 96 West Australian 3’s 864 864 —Metals.— Copper : Spot, £57 15e; throe months, £SB 13s Bd. Tin :• Spot, £l6B 15s; three months, £l6B 17s 64. Silver, 25 5-16 d per oz. —Glycerine.— The price of glycerine has advanced 100s. which is a record. ' Tho cause is the increased quantities that aro in demand for explosives in the construction of the Panama Canal awl other undertakings. —Sugar.— German, Qa; first marks, 11s 3d. —Wheat, Flour, and Oats.— Wheat: The markets are quiet and firmer in tone owing to further unfavorable reports of the Argentine crop. Chicago, December shipments, 90jJ- to 91„. Moderate inquiry for cargoes ; 57s is asked for Australian off the coast, 56s 9d for January and February shipment, - 56s 3d for New ho nth Wales steamer afloat, 36s for parcels of January and February shipment; small inquiry for Australian spot at 37s 3d. Floor ; Firm, and rather more inquiry. Patents, on spot, 26s 3d. Oats; Firm. La Plata, January-Feb-ruary shipment, 13e fid. —Butter and Choose. — Butter : Tho demand is improving, awl colonial is hardening in view of the small quantity due next week. Danish, 118s; (hoiccst Australian, salted 108s, unsalted 110* ; Now Zealand, salted HCs, unsalted 112s ; secondary colonials aro soiling better at 102s to 104s; stored, 94s to 100s. Cheese : Finn. Now Zealand, 55s to 565. —Bradford Wool.— Steady and unchanged. Morinoes for delivery at Now Year show a hardening tendency, ' —Kauri Gum.— (Received November 26, at 10.50 a.m.) At tho kauri gum sales 528 oases wexo offered and 146 sold. Prices unchanged. Good, throe-quarter scraped, 170s. AUSTRALIAN TRADE WITH INDIA Press Association—By Telegraph—Copyright

SYDNEY, November 25. (Received November 25, at 8.35 p.m.) The report of the Government’s Commercial Agent in the East shows that India last year imported £682,551 worth of Australian products —an increase of £201,000. India exported to Australia goods valued at £1.576,570—a decrease of £176,365 an compared with the previous year. IRON TRADE COMBINE. Press Association —By Telegraph—Copyright. LONDON, November 25. Tho whole of tho Scottish malleable iron trade is combining with a view to (securing a. better distribution of trade and the elimination of home competition. Each firm has lieen allotted a percentage of the production, as in tho nail trade. WESTKALIA'S WHEAT YIELD. Press Association—By Telegraph—Copyright BERTH. November 25. The Government Statistician’s estimate of the wheat harvest i* 7,594,264 bushels, an average of 12.3 bushels an acre. N.Z. LOAN AND MERCANTILE COMPANY. A PROFITABLE YEAR. Press Association--By Telegraph—Copyright. LONDON. November 25 (Rcceivid November 25, at 10.30 p.m.) After paying debenture interest and adding £45.000 to the reserve accounts, the. New Zealand Loan and Mercantile Agency Company have declared a dividend of 74 per cent., and carried forward £296 (’I. The not profit was £180,900, after £3.000 had been written olt tho premises account and £10.500 appropriated for the benefit of tho staff NEW FROZEN MEAT .STEAMERF. Press Association—By Telegraph—Copyright. , LONDON, November 23. Üb-eoivcd November 25, at 10.50 a.iu.) The Royal Mail Steam Ship Company are building nix frozen meat carriers for the Argentine-Livcrpool trade at a cost of a million and a-ludf. THE WOOL SALES. Press A spoliation—By Telegraph—Copyright. LONDON. November 25. (Received November 26. at 8.5 a.m.) At the woo! sales the Waihua clip brought the top price with 104 d, the average price being 10td. (Received November 26, at 10.50 a.m.) Strong competition for good, free wools, but short and faulty ar oneglocted. THE PAPUAN PRODUCTS COMPANY. LIMITED. In onr advertising columns is published an abridged prospectus of the Papuan Products Company, Ltd. This company is being formed with a capital of £75,000, divided into 750,000 shares of 2s each, for the cultivation of rubber, cocoanut-s, and other tropical products in Papua. Papua, us most people know, is tho British territory of New Guinea, and its administration is under tho control of the Commonwealth of Australia. The management of the company’ will be in Christchurch, ami the provisional directors arc all well-known residents of Caiitorburv.

From a perusal of the prospectus it will be seen the area of 2,000 acres to be acquired is under agreement of lease from tho Papuan Government for ninety-nine years, and 'it is stated to be the best land in the ©astern division for rubber growing. The large profits being made by rubber companies and the bright prospects before the rubber-growing industry afford convincing proof that shares in rubber companies, where the cultivated area is favorably situated and the company properly managed, can be amongst the soundest, commercial investments. It will be noted that the capital of the company is divided into 2s shares. Two-shilling shares ar© the favorite form of “ rubber ” share on the London market, and some of the 2s shares .on, iiat- JuadLEtiasajiawk

For instance, Selangor Rubber Company 2s shares were quoted in April last at £4 10s per share; Lmgiggi, JO3 10s; Pataling, £3 17s 6d; Vallambrosa, £3 5s 9d; Cicely, £3 2s 6d; and the dividends these companies are paying appear to fully justify these prices. Mr Hannan Reeves, Vogel street, is the Dunedin broker, from whom prospectuses and further information can be obtained.

THE SOUTHLAND MARKETS. [SIT.CIAL TO THE STAR.] INVERCARGILL, November 26. Oats.—Locally oats aro still in fair demand, owing to the dry weather experienced in the North, but tho high prices ruling prevent a large volume of business being put through, and consumers are only buying from hand to mouth. Farmers who have stocks on hand have every confidence in the market, and are holding out for higher prices. The area under crop in Southland this year will be about equal to last year's, and tho earlier sown grain is looking very well. The dry weather has on used some of tho later sown seed not to do so well, but there is still plenty of time to ensure a good crop all round. Today’s quotations are : —A grade Gartens, Ls' 10 jd to Is lid; A grade spar row bills, Is lOd to Is 104 d ; aitd B grade 4d less. Ryegrass.—Grass seed is in fair demand from the North, ami any good heavy lines are worth up to 2s 8d on trucks at country stations.

Chaff.—This is in fair demand, but as Australia has been supplying largo quantities to the North Island the local market is kept in cheek. Tlio probability is that the market has reached its highest price. To-day’s quote was £3 17s 5(1. Potatoes.—There is very little life in tills commodity at present. Old potatoes have been off'ei'ing in odd lots, but the demand has been the reverse of keen, and values have dropped to the vicinity of £7 on trucks at conmry stations. Now potatoes are coming to hand in small lots, and are worth about £IS on trucks at country stations. FRUIT AND PRODUCE REPORT. Messrs T. E. Shied ami ,Co. report for the week ended to-day: — 1 Fruit.—The warm weather has been bringing along conskleiuble. supplies of soft fruits, particularly strawberries, which have been most erratic to far as values are concerned this week. Tomatoes are increasing in supply, and tho same may be said to apply to most lines coming forward. New potatoes are itclincd to ease in sympathy with the Northern market, market is very hare of both citrus and Island fruits, and until the arrival of the Aorangi (due on Decenilier 12) with Ircsn supplies high prices arc certain to rule. Strawberries.—< 'boko Paxlovs and Paxtons. hr, to l.s 20 ; Waimate Eleanors, up to lid jier lb; Marguerites, 9d per pottle. Cncuinlters. —Light supplies ; 12s to 14s por case for laa-gc. Tomatoes.—Christchurch, Is to Is 6d per lb; Auckland ami Nelson. Is 2d. Asparagus. —Good demand ; 5s to 6s perdozen.

Green Pca«j.—Steady inquiry ; 3d to Sjd por lb, according to quality. Gooseberries. —Large green, 2-4<l to 3d. (Worries.—-Victorian, .arrived pxir eider, 10s to 18s per half-box; good order, 12s to 13a ; local cherries, Teviot, 6d to la Id, according to quality. New Potatoes. —To-day's value, 18s to 20s ; Sydneys, 16s to 18s. Apples.—Market fairly steady. American red p’crmain. 11s to 120 jier 421b box; Hobart, up to 11s 6d. Bananas.—Ripo, 5d to fid per lb ; green (to arrive, 9in ■asce), 16s to 17s; Fijians, up to 245. Rhubarb.—Excellent demand ; So to 10s per cwt. Pines. —Choice New South Wales. 10s to 14s; Rarotonga and Fiji, 8s to 11s. Vegetables.—Cauliflowers, 3s fid to 6s 6d per sack; cabbages, 'large hearts. 4s to 5s ; celery, choice, 3s to 3s 6d per dozen ; parsnips. *6s to 7s 6(1; lettuce (market oversupplied), fid ]>er dozen; radishes, 4d to 5d per dozen ; spinach, 8d per dozen. Walnuts.—Market bare ; 64d ixr lb. Japanese peanuts, to 3ri per lb, Chee.se. —Market is firm. We quote : Factory, ojjd to sJ<l; Akaroa, s|d. Tallow. —Rough fat realises 18s to 19s ; rendered, 20? to 24e.

Poultry.—The demand is strictly limited to good quality. Turkey liens fid to cocks ‘ 7jd to 8d ]>er lb ; gecso, 5s fid to 6s fid per pair; ducks, 5s to 6s fid ; hens, 2s fid to 3s fid per pair. Pigs.—-Good demand for good-condi-tioned lines. Prime baconevs, 160's, 44d per lb; heavy weights. tier lb. Bacon. —Market quiet. Prime smoked rolls, 7d to 73d ; hams. 84d per lb.

Butter.—Better demand. Storekeepers' separator in attractively got-np pats, Sri to 9d : o)(Unary pats. 7d to 8(1. Eggs.--Market inclined to firm somewhat” To-day’s value. 94d to 10(1 ; guaranteed slumped, up to lid. Onions, £9 per ton. Fowl Wheat. —Bettor inquiry. Good whole, sfi Id to 3e 3d ; broken. 2s lOd. Maize. 3s to 5s fid per biiidiel. (.'half.—-Market very lightly supplied. Prime bright oat sheaff, £4 10s to £5. Straw.—'Wheaton, 30s to 255; oaten, up to 40s.