COMMERCIAL.

New Zealand Herald, Volume LVII, Issue 17461, 4 May 1920, Page 3

COMMERCIAL.

LONDON MARKETS. MONEY AND PRODUCE BATES. Australian and N.Z. Cable A&sooiation. (Reo. 5,5 P.m.) LONDON, April 29 (delayed). The Bank of England returns for the week ended April 29, as compared with those for the week ended April 22, are as follows:— , ~, „ , m .*, April 29, • April 22. Coin £111,987,000 £111,986,000 Reserve 23,084,000 24,907,000, Note issue 107,884,000 105,963,000 Government deposits 17.903,000 20,017.000 Other deposits ... 122,478,000 124,257.000 Government securities 59,805,000 57,476,000 oin*r securities ... 75,161,000 79,613,000 Proportion of reserve to liabilities ... 11.44 "30 BATES OP DISCOUNT. Short loans, 5} per cent., the same as last week. Three-months bills, 61 per ant,, the same as last week. FOREIGN EXCHANGES. The following rates on foreign exchanges are current to-day. as compared with, the cabled duotations o,i April 22, and lie rates ruling on July 3, 1914:April 29. April 22. Julys', Paris ... ». 63fr 600 65.45 24.14! Stockholm ... 18kr03ore 18.06 18.241 Christiania ... 19kr95ore 19.73 18.24* Calcutta 2sß}d 2s 3|d la4d Montreal ... 4dol 26c 4.28 4.87* New York « Bdol. 880 3.851 4.871 ; CONSOLS AND COLONIAL STOCKS. . 1 The Stock Exchange is fiat in consequence of the announcement of a new issue of Treasury bonds. . . The following table gives quotations for consols and colonial inscribed stocks, compared with those of April 22:—

• • PRODUCE MARKET. Wheat: Quiet. Small Bales of Australian at Government prices. Flour: Firm. The Quantity released it insufficient to meet the demand. Oats: Firm. La Plata, 54a 6d. . Peas and Beans: Stead; and quiet. Sugar: Unchanged. WOOL BALES. At the wool sales a small bu* better selection of Merinos was offered. Prices were unchanged. There was a quicker sale for crossbreds at slightly harder rates. J.W.r. over New Zealand clip realised 87d top price, 85d average. BRADFORD MARKET. The Bradford market is quiet. The following are the current rates: —64's. 13s 6d; 66's, 7b lid: 60's, 6s; 46's, 8s 7d.

- TAKAPUNA TRAMWAYS and • FERRY CO.

INCREASE IN FARES ESSENTIAL. The annual meeting of shareholders is the- Takapuna Tramways and Ferry Company will be held at the Chamber of Commerce next Tuesday afternoon.. The report of the directors, prepared for submission to the shareholders, states that the revenuo for the year ended March 31 test wan £'27,648 Is lOd; the expenditure for tho year was £24,703 la 2d: leavinj a profit of £2946 Os Bd. Adding the balance from 1919. £2653 5s Bd, this mode a ■ total of £5593 6s 4d. Out of this the directors reooninond depreciations amounting to £135? 7 s 6d. leaving to be carried forward £4245 18s' 10d, The profit for the year, ■ £2946, with £1824 paid as debenture interest, is equivalent to 6.6 per cent, per annum on tie total capital employed. The increased expenditure is due to higher wages awarcls and increases in the price of fuel, stores, etc., which are still increasing. Part of these increases have been passed on to the travelling public by increasing the ateomsr fares. Application!! tor increased tram [ fares have Deon made and refused; and 'tie ' directors are awaiting the decision of tie Supreme Court as to who is the oontrolltis 1 authority, when a further demand will be [ mado, as an increase in tram fares is abiolutely essential. In order to cope with the increasing traffic, two new locomotives wtre obtained. One of these was put into sorvico lot the Christmas holiday traffic, and the other about three weeks later. _ Th;)y aw now maintaining the service, while the other engines are thoroughly overhauled ana put into first-class condition. The traflic demands that another steamer be obtained, and the directors have this matter undjr consideration. - The debenture issue falls duo at the end of this year; aiu" l it is proposed to have a new issue ooveruv t'ae amount of the present issue, eogerner or th amount required for a new steam«r, additional tramcars and workshop plant. The j directors retiring by rotation are Mr. A. V. Morrison and Captain James Smith, ww oder themselves for re-election.

PROPERTY SALES. Messrs. Harrop, and Medley will offer tor sale by public auction this afternoon, at two o'clock, at their rooms, 15, Shortland Street, a freehold wjth four-roomed house and outbuildings, situated in Gladstono Road, Parneli. LONDON TALLOW MARKET. The produce department of the Bank of Now Zealand has received tho following cablegram from its London branch under date April 28: — "Prices of tallow show a further decline of £8 per ton. Buyers show more desire to operate. Present quotations are:—New Zealand mutton (good), JEW to £90 per ton; New Zealand beof, good, £85 to £90 per ton; 'New Zealand, mixed, £85 per ton."

PARENGA KAURI OILS. At the statutory meeting of shareholders in the Paronga Kauri Oils, Ltd., Messrs. L. Anderson and A. W. Gillies were elected to I the board of directors. The manager of the works reported having restarted the retorts on the ''dry" process, pending the arrival of valves suitable lor the ' wet" proosss. No. 1 storage tank contained 12in of oil, una j No. 2 tank 20in.

WELLINGTON PRODUCE MARKET. [BX TELEGRAPH.—OWK CORBESPONDENT.j WELLINGTON. Monday. The local market continues without »ny life for both apples and pears, owing to excessive supplies coming forward. Other fruits have good inquiry. Choice dessert apples realised 6s to 5s 6d per case, pr-me 4s 6d to 4s 9d; cookers, choice 4s to 4$ 3d per case, prime 3s to 3s 6d. Pears, chuqfl dessert Sr 6d to 6s per case, prime 1: to 4s 6d; stewing 3s to 4s. Tomatoes, choice ripe 7s to 7s 6d per half case, prime 6s to 6s 6d. Passions, choice 6s 6d to 7s 6d per box. prime 6s to Ss 6d. Quinces. 7s to 8s per case. Potatoes are in fair supply and have realised 9s to 9s 6d per cwt. Onions, Us to 12s per cwt. Cauliflowers, ■ choice, 14s to 17s per sack. Cabbages, choice, Ss to lis per sack. Lettuces, fresh, 6s to 6s per case. Pie melons, 9s to lis per rack. Parsnips, 7s to 9s per sack. Cucumbers, 5s to 6s per bushel case. Eggs: Fresh are in poor supply at 3s 10d to 4s per dozen, according to brands. Preserved are sellini; at 2s lOd.

» Price. Variation. £ s. d. s. d. Consols. 21 per cent. .. 16 17 6 5 OJ British 61 p.c war loan .MB 0 .6 0 British 6 p.o. war loan.. 83 16 0$ 62 6* New Zealand 8 p.c, 1915 67 0 0 10 0* CoraVlth 6J p.c. 1920-22 95 3 6 7 6* Com'w'lth Si p.o.. 192247 91 6 0 5 Ot W. Aust. 8 P.O.. 1920-23 70 0 0 — W Aust. 8 P.O.. 1915-35 67 6 0 — N.S.W. 1 P.O.. 1938 .. 75 12 6 - 8. Aust. 31 P.O.. 1930 .. 66 0 0 la 0* 8. Aust. 3 p.c. optional 69 6 0 6 0 'i'asmanian 81 p.c, 1920-50 64 0 0 — Tasmania*. <• p.c. 1920-40 63 0 0 —' Queensland 1 p.o., 1934.. 87 10 0 6 0* Victorian 1 p.c, 1924 . 98 2 « 2 6» Victorian 8} P.c. 1921-20 81 10 0 10 0' Victorian 81 P-c. 1920-49 69 10 0 6 0' Victorian 3 p.c. 1929-40 65 10 0 Same, I tHigher. ♦Lower !Ex. dividend. I —Kot quoted last week.