COMMERCIAL.

New Zealand Herald, Volume LIV, Issue 16669, 13 October 1917, Page 5

COMMERCIAL.

J. LONDON MARKETS. ' I MONEY AND PRODUCE RATES. Australian and N.Z. Cable Association. (Reed. 8.16 p.m.) LONDON, Oct. 11. The Bank of England returns for the week ended October 11 compare with the returns of last week as under:— • Oct. 11. Oct. 4. Coin £63,227,000' £53,398,000 Reserve ... 32,260,000 ' 82,848,000 Note issue ... 41,678,000 41,829,000 Government deposits 42,186,000 42,512,000 Other deposits 119,625,000 128,745,000 Government securities 58,272,000 58,735,000 Other securities 88,943,000 98,672,000 Proportion of reserve to liabilities 19.93 18.88 INTEREST AND DISCOUNT. Short loans are quoted at 41 per cent., the same as the previous week. • The, rate of discount for three months' bills is 4} per cent., unchanged from . tue previous week. . CONSOLS AND COLONIAL STOCKS. The Stock Exchange is cheerful over the war news. Stocks show an upward tendency all round. The following are the latest Quotations for colonial inscribed stock and a comparison with those reported a week ago; — VariaPrice. tion. £ 6. d. s. d. Consols, 2} per cent. ... 56 0 0 20 Ot British 3t p.e. war loan 85 12 6 12 6t British 6 p.o. war 10an... 95 2 6 12 6t N.Z. 4 p.c, 1829 85 0 0 6Ot N.Z. 3$ p. 0., 1940 73 7 6 sOt N.Z. 3 p.c, 1845 63 0 0 Same. W.A. 8} p.o. 15120-35 ... 73 5 0 6 Ot W.A. 3 p.c., 1916-36 ... 6810 0 25 0* NSLW. 4 p.c, 1933 ... 83 6 0 Bame. N.B.W. 3} p.c, 1918 ... 99 6 0 26 Of NS.W. 3j p.c, 1930-60... 70 5 0 Same. N S.W. 3 p.c. 1935 ... 69 16 9 6 0' South Aus. 35 p.c. 1930 72 0. 0 5 0' South Aus. 3 p.c. optional 67 0 0 10 0* Tasmanian 81 p. 0., 1920-40 72 5 0 Same, Tasmanian Bp. 0., 1920-40 65 7 6 76t Queensland 4 p.c, 1924 9016 0 2 6* Queensland 31 p..:.. 1921-30 87 15 0 Same. Queensland 3 p.c, 1922-47 62 2 6 26f Victorian i p.c. 1920 ... 95 12 6 6 Ot Victorian 3* p. 0.. 1929-48 69 17 6 26t Victorian- 8 t p.c. 1621-26 85 5 0 5 Ot Victorian 8 p.c, 1929-49... B2 2 6 7 6' 'Lower. tHigber. BUTTER. Butter is in very short supply owing to small arrivals. Danish is selling at 4165. There has been' no official announcement regarding the purchase of the Australian surplus, and there is some uncertainty whether it has been completed. CEREALS. . Wheat: No cargoes are offering. Small sales have been made of Australian, ex quay; at 71s 6d. Flour is very firm, the demand greatly exceeding the offerings. Oats, peas, and I beans are quiet and steady. I SUGAR. . Prices are unchanged. METALS. Copper. £110 ss, Tin: On spot, £245 17s 6d; three months, £248 2s 6d. Lead; On spot, £80 10s,- three months, £29 108.-' , .. ... Spelter: On spot, £54 J three months, £60. Silver, 46! d. FRUIT AND PRODUCE. Business in the fruit and produce markets during the week has been fairly good, The market is almost bare of apples, and other fruit is particularly scarce. Local oranges are almost finished, with only a few Americans on hand. Local lemons are in better supply. ' Apples are due shortly, ' Fiji bananas were sold this week to a good market. Potatoes are in good supply at last week's rates. Onions: The market is absolutely ;bare. . Farmers' butter sold well, and fresh eggs 'are firm at quotation. Vegetables are not too plentiful, and high prices are obtained for good lines. Poultry was again in good demand,, and best-conditioned birdß sold at high prices. . ' FIELD PRODUCE. Potatoes, prime, .£6; medium 3s fid cwt., new 2}d to 3d lb, small Id lb-, onions, 6}d lb; rhubarb, 6s to 7s dozen-, pumpkins, 12s to 148 owi DAIRY PRODUCE. Butter, farmers', in prints, Is 2d to Is 3d lb; eggs, Is 8d dozen. . <~ . - ■■'' FRUIT. .;,■</ V'-_ Apples, local, coloured, extra superior,, dessert, 17a to 18s case, good pears, 255. case < tomatoes, hothouse; la lb; oranges, local, best, 20s case, small 10s to 12s, Island 18s; lemons, local, prime, lis toi 12s case,' good 78, to Bs,, local, rough and coarse, 3s 3d to 4s; passion fruit, "10s case; walnuts, Is lb; peanuts, 4id lb; bananas, 12s to 13s case, ' ' '■■''' "' ' }'■ V POULTRY.■. "";;-.; v *'_«;;;.:' Hens, good, 4s to 6s lOd each, smiillSs lOd to 8s 6d; table roosters, 4s to 6s lOd; ducks. 2s 6d to 4s 8d each; chicks. (3d to 'Is lOd each; ducklings, Is to Is lid each; turkey, gobblers, 8s to 12s each; turkey ; Hens, ss. to 6s 6d each; hen and broods, 8s Ito 12s 6d each; hen and ducklings, 10s 6d i to 22s each. .-.V' ,J j; -,-\ ",i, v --~

PROPERTY SALES. ..,,*.£ Samuel Vaile and Sons, Ltd., report having sold the following lots in the Nuttall Estate:— 18. with house, of five, rooms, £330; lot 2, with house of seven rooms, and another of five • rooms, £690; lot.; 12, with cottage of- five rooms, £800: lot ,11, with stable, £173 15s; lot 1, with residence of seven roams und corner section, £1150. The section of one .acre at , Panmure realised £270. There was considerable inquiry after the auction for the unsold lots. ~; AUSTRALIAN PRODUCE. '•*." A. and N.Z. - "MELBOURNE, Oct. 12. Barley: Chevalier, 4s 6<j to, 4s 7id; Cape, 3s 3d to 3s 4d. . Oats: Algerian, milling, 2s 8d to 2s 9d: feed. 2s 6d to 2b 6d., Potatoes. £3 15s to £4 15s. Onions, £21 to £22. CANTERBURY PRODUCE MARKET [bt telbobape.—pbess association.] ( CHRISTCHURCH, Friday, There are apparently no further supplies of wheat held in the country districts. What, business is being done in oats is purely local, as prices are above coastal shipping level. A fair amount of business is still being done with the North Island 1 in oatsheaf chaff, and up to £5 per ton at country stations is being paid for prime heavy chaff. The potato market is very dull. Prices now offered are 47s 6d to 60s at country stations, according to distance. Merchants who have supplies.in hand ore not, however, inclined to offer .more than 455,. ,

CLEYEDON NAVIGATION COMPANY. SHAREHOLDERS' ANNUAL MEETING The twenty-first annual meeting of shareholders in the Ulevedon' Steam Navigation: Company .was held yesterday, Mr. W. Alison presiding. "'<■■: '352 The report and balance-sheet stated that the surplus for the year on working account amounted to £116 18s lOd. which, with the balance brought forward on May 1, 1916, of £51 13s Bd, left a balance. to credit of profit and loss account of £168 12s 6d The payment of a dividend of 6 per cent, was recommended, which would absorb £125. leaving a balance of £45 12s 6d to be carried forward. The balancesheet to April 30, 1917, showed:— To capital account, 2500' shares at £1, £2500; reserve fund, £750; sundry creditors, £1205 18s sd; unclaimed dividonds, £21 12s Sd; profit and loss balance. £168 12s 6d; total, £4646 3s. Cr.: By steamers, plant, and freehold property, less mortgage, £4250 108; .investments, £17; sundry, debtors,' £155 12s 8d; cash in hand. and in bank, £225 0s 4d; total. £4646 3s. The chairman, in moving' the adoption of the report and balance-sheet, said the directors considered that, under existing exceptional conditions they were justified in recommending the payment of a 5 per cent, dividend for the year, notwithstanding -that exception might be .taken to the payment of a dividend where' no' allowance .for depreciation had been made for : three years. They, hflwover. left the decision, entirely 'to the shareholders. The directors regretted that the company's trade had not roved more profitable ' during the year, : but the total receipts showed an increase an compared, with the previous year. The! cost of running the steamers had increased ' substantially owing to tho increased price' of all requirements. It had been suggested that as the company's expenses were so much heavier fares and freights should be advanced, but the directors, recognising that tho great body of the shareholders were settlers, and that, the company was practically a co-oporativo concern, had hes'tated to make any increase. The report and balance-sheet were adopted. „ _ ' « _, "i*-<-> . Messrs. J. B. Burgoyno, R. W, Hale, and W. J Hyde, retiring directors, were re-elected. Messrs. Thomas and. Gray were reappointed auditors.'