FINANCE AND TRADE

New Zealand Times, Volume XXXII, Issue 7027, 15 January 1910, Page 4

FINANCE AND TRADE

The Bank of England return this week discloses a continued return to normal condition-*. The stocks of gold coins havo iiicrca.-«l by over a million sterling, and the reserve by a million and three-quarters, while liabilities havo been considerably reduced. The result is that the proportion of reserve to liabilities lias this week risen from 39.40 pei* cent, to 47.5-4. The bank rate remains at 4 per cent., n-hile discounts on tlio open market are .easier by J, at 3 3-16 per cent. "Call" money is unchanged at 2\ per cent. On the London Stock Exchange Colonial GovernunJit stocks show only one change on the week, Queensland 4's going up ss. New Zealand 4's are uuoti-d at .£lO5 10s, 3i's at .£9B, and 3's a-, .W4l 10s. Imperial Consols are 5s higher, at .£B2 12s 6d. The. wheat markets arc quiet in England and on the Continent, and cargoes are offered in London at 3d to Gd per quarter hi'hjw top quotations. Xew Zealand oats make from 19s to 22s per quarter, but there 'id little demand. Danish butter is dull of sale, but colonial lots are clearing well at late rates. There was a strong demand this week for rabbits-kins, New Zealand's _ rising sharply owing to furriers' activity. LONDON FINANCIAL CABLES. 8y Telegraph—Press Association— Copyright. (Received January 14, 9-20 p.m.) LONDON, January 14. BANK OF ENGLAND RETURN. Tho Bank of England return issued for the week ended Wednesday, January 12th, is an under:— Is*ue Dkpartmrkt. Not* Issue £52,298,000 Gov. debt. £11,016,000 Othßr securities .. 7,431,000 Gold.. .. 33,811,000 £52,293,000 ' £52,293,000 BASKISa DKPAIITMEHT. Proprietors' Got. seouricap?tal £14,553,000 ties .. £14,708,000 Pnblia do- Other 86oosits 6,904,000 curities .. 30,710,000 Other de'- D ' JU1 ' WU Notaß .. 21,016,000 posits!. 45,491,008 Cola - 908.000 Best. 7-day and other bills .. 8,434,000 £70,J72,000 £70.372,000 The leading items of the Bank of England return afford tho following comparisons : This week. Last week. Last year. £ £ f £ Bullion ... 33,844,000 32,791,000 30,254,000 Reservo ... 24 924,000 23,288,000 22,013,000 Note oir'n. 28,277,000 28,866,000 28,093,000 Deposits 52,395,000 59,076,000 48,541,000 Proportion reserve to ,„„,. liabilities 47.54 39.40 43.26 GOVERNMENT SECURITIES. The following are the latest quotations for Government securities, compared with those ruling last week:— Price. Variation. 21% Imperial Consols .. as U 6 Sf-hlghsr 1 % New Bonth Wales .. 107 0 0 Unchanged SS% New South Wales .. 99 10 0 Unchanged 8 % New South Wales .. 86 10 0 Unchanged 4 % Viotorian .. .. 102 10 0 Unohanged B*% Victorian .. .. 98 0 0 Unchanged 8 % Victorian .. .. 85 0 0 Unohanged 9A% South Australian .. 97 10 0 Unchanged 8 % South Australian .. 83 10 0 , Unchanged 1 % Queensland .. • .. 103 0 0 6/-higher BJ% Queensland .. ,- ..98,2 6 Unchanged 8% Queensland .. ... 83 0 0 Unchanged 4 % New Zealand* .. 105 10 0 Unchanged B*% New Zealand! .. 98 0 0 Unchanged B % New Zealandi .. 8610 0 Unchanged Bj% West Australian .. 98 15 '0 Unchanged B % West Australian 88,10 0' Unchanged BJ% Tasmanian .. -.. 97 0 0 Unchanged B % Tasmanian ■. ■ ■ 85 10 0 Unchanged •Interest payable In May and November, flnterest payable in January and July. llnterest payable in April and Ootobar,THE MONEY MARKET. The r ßank of England rate of discount is now- at 4 per cent.; to which rate it was lowered from 4J per cent, on January 6th. The open market rate of discount for best three months' bills is J lower at 3 3-16 per cent. ' Short loans are unchanged at 2J per cent. The market rate in Paris is cd at 2J per cent., while in Berlin it is i 'lower at 3£ per cent. LONDON MARKET CABLES. LONDON, January 14. GRAIN AND FLOUR. '■. Wheat.—The markets are quiet. Cargoes are offering at about 3d to 6d par quarter below top prices, but buyers are holding back. The Continental markets are also very ■■ quiet. There is no Australian wheat on offer on the spot, and quotations are nominally 44s 6a to 45s per quarter/ Flour.—Market quiet. Spot prices are unchanged at about 31s 6d per sack in London. New Australian (January shipment) is offering at 305.. ci.f., while buyers offer 28s ,6d. Oats.—There is a poor demand. New Zealand Gartens make 19s 6d to 23s per quarter, and Bparrowbills 19s to 20s 6d. La Plata oats (January-February shipment) have sold at 14s 9d, or 3d less than last week's quotation, BETTER. Danish butter is dull of sale, at 118 s to 119 s, mp cwt, a fall of 2s on the week. Colonial makes are very firm, all lots clearing well at lato rates (Australian secondaries 104 s, New ' Zealland riholoe 110 s to 112 s). Unsaltod makes about Is above salted. SUGAR. The market is steady. . German beet 88 per cent, net titro is quoted at IS3 lOd, a rise of Is 2d; and first marks granulated at 15s, a rise of sd, per cwt f.o.b. Hamburg. BRADFORD TOPS. The Bradford tops market is unchanged atr-64's, 274. d; super 60's, 26Jd; common 60's,-25Jd; 46's, 103 d; do's, U\&. Crossbreds 6haw a hardening tendency, but merinos are quieter. RABBITSKINS. Mossrs Armings* report on. the rabbitskin sales states that there was a strong demand, furriers buying, largely at extreme prices. New Zealands (thin medium winter) rose 6d to Is per pound, medium heavy 6d bo Bd, good out-goings 2d to 4d, and other sorts Id to 2d. Australian (fair to good winter), 4d to 9d; remainder Id to 2d. AKtogethter 1080 bundle?! were offered. THE METAL MARKETS. Yesterday's ; closing' quotations, compared with those of a week-ago, were:— Copper.—On the spot, 6s 3d lower at .£6O 17s 6d per ton; three months, 6s 3d lower at .£6l 16s 3d; eleotroOytio, 10s hieher at .£63 10s. Tin.—On the spot, 52s 6d lower at £l4B 5s pex ton; three'months, 45s lower at .£l5O. ■• ■ Spelter, 2s 6d higher at ,£23 '7s 6d per ton-Pig-iron, 5 dhigner at 51s lOd per ton. Imports of lead amount to 18,570 tons, including 5900 Australian; and the exports to 4855 tons. WELLINGTON TBUST AND LOAN. The annual report of the Wellington Trust, Loan, and Investment Company •hows that the sum to the credit of profit and loss, £10,459 17s. together with £llO6 Ss lid brought forward from tho previous year, amounts to £11,566 2s lid, from

which £4050 has already been paid as interim dividend. The directors reco mend that £2OOO bo added to the resci fund, .making it £46,000. and that a furtl dividend of £4030 should be. paid, maki 3 per cent, for the year, a,nd that £1 2b lid bo carried forward. 1 Tho directors regret to report, that di ■ ing tho year Messrs Charles Tringhain a O. T. Richardson resigned from the boa: . Tho vacancies were filled by appointi Mo33ra John Alfred Plimmer and Wall Scott Held. Tho directors express th ' deep regret at the death of Mr C. 1 Kichardßon since his resignation. Tho retiring directors by rotation t Messrs C."~H. Izard, J. P. Maxwell, a , Dr. A. K. Newman, who, being cligib ' offer themselves for re-election. Mr 0. Powlea oilers himself for re-election auditor. The directors regret that ' D. T. Stuart has intimated that he dc , not intend to stand again for the audit, ship. ' WELLINGTON STOCK EXCHANG YESTERDAY'S QUOTATIONS. MINING. Auckland.—Dominion (Karangahako)—J ' p.m., s 3d. Golden Belt (contrib.)—lo a.] ' sales sid (reported). Kuranui—3Js, s 1 ' Kuranul Caledonian—noon, b Ib, 8 1b ; : 3.15, b W » Is 3d. N.Z. Crown—lo a.i b 5a 8d; 3.15, b 5s lid, s 6s Id. May Que —lO a.m., b 3s Bd. Now Sylvia—lo a.i b Sa Bd. sales 3s 9Jd (reported); 3.15, b 9d. s 3s lOd. Old Hauraki G. Mlnesa.m., b 4s 7d, s 4s- 8d; noon, b 4s 7d, s Bd, sales ,4s-8d" ('Change); 3.15, b 4s 8d 4s 9d. Saxon—noon, b la 4d; 3.15, b Is s Is sd. Tairua Broken Hills—noon, Is 3d. Talisman Consolidated—lo a.m., £2 3s 3d, s £2 4s; noon, b £2 3s 9d, s 43 3d; 3.15, b £2 3s, s £2 4s, sales £2 4s ( . ported). .Waihi—lo a.m., b £9 15s, sa , £9 15s (reported); noon, b £9 15b, a £9 1 3.15, b £9 15s. 9 £9 16s, sales £9 15s, £9 (reported). Waihi Beefs—3.ls, b 7s 9d, 83. Waihi Extended—lo a.m., b 3s 6d I 3s 8d; 3.15, b 3s 6d, sales 3s 6d ('Chans Waihi Grand Junction—lo a.m., b £1 14s I a £1 15s; noon, b £1 15s, s £1 15s 3d; 3 1 b £1 15s, b £1 153 3d, salon £l' 15s 3d ( J ported). Waitangi , Consolidated NX. ' 3.15. b 2b 4d, a 2s 7d. ; West Coast.—Consolidated • Goldfleldsa.m. b 18s fid, a. 18s 9d. sales 18s 3d .1 I ported); noon, a 19s; 3.15, b 18s 6d, s IBs ealea 19s (reported), 18s 9d ('Chans > New Alpine s 2s. New 1 | Elver—noon, a £2 6s; 3.15, s £2 6a. P ' gross—lo a.m., b 12s 9d; 3.15, b 12s Boss Goldflolds, Ltd. (paid)—lo a.m.,'b 9d, b 9s 6d; noon, b 9s, s 9s 3d, sales 9s ■ (reported), 9b 3d ('Change); 3.15, b 8a 9d 1 9b 3d. !.."•■ Note.—The letter "b" signifies buy ■ and "s" sellers. INVESTMENT STOCKS. ; Buy en. Seller*. Bala ' £ i. d, £ •. d. £ t. ' BANKS— Nat'nlofN.Z.,Ltd, (ex div, oum ri'ta) 5 17 6 ■'"■ - FINANCIAL— ■ 'lik., Wel'n Trußt Loan, "■■' : , Ltd.,.. „.. ... 7 4 3 - 1 gas— ' : Christfch, £5 ... 912 6 - Wellington, £10... - 18 5 0 18 6 Wellingt'n, — 14 5 0 ■- South British of N.Z ... 2 14 0 2 13 0 2'l< 1 BHIPPINO— N.Z. Shipping;.Co 7 10 0 - Union Steamship I MANtTFACTtniINO- [ Wel'n WobVnVord -> 3 4 0 COAL—- } Hikurangi ... ... 10 0 12 6 f WestportrStoolst'n, '. • I Ltd.... ... ... 0 7 6 | Miscellaneous— I Tveyland O'Brien 1 Timber ... : ... 1.3 3 1 'Beported. QUOTATIONS BLSB"WIHEIIE. ] PBESS ASSOCIATION. ; AT/OKLAND, January 1' The business at this morning's call . the Stock Exchange included;—May Que i 3s lid; Old Alburnia (contrib.). Is ! Walotahl,' 3a; . Mount Welcome, sd, 6; Old Hauraki, 4a^9d;" Crown, 6s 2d; Ta ■ man, 44s 6dr*)s; Waihi, 197 s 6d; Junctii ' 35s 6d,~35s 9d; New Sylvia, 3s 10d; M Queen.,3s lid; Boyal Oak, 2a, and (contri' Is 2d; Broken Hills, is 4d; Old Alburn Is lid. : ~."'•..-. _ Afternoon call:—May Queen, 4s; Wa tahi, ss; Boss Goldnelds,. 9b 9d; ,Progr. Mines, 133, 6d; Monte Chrißto, 4d; Mot Weloome, sid, 6d; Old Hauraki, 4s 9d, 9d; Kaponga, lid; Waihi Grand Junctii ■ 35s 9d; Tauplri Coal, 18b 9d; Netf-Zeala Cement, 38s. : ' 1 . DTTNEDIN, January 1' -Stock- Exchange' sales: —Enterprise, ' Waihi Extended, 3s 6d; Old Hauraki, < 6d, 4a 6d, 4s 6d; Waihi Grand Junotii ' 35b; Consolidated Goldflelds (forward livery), 19a 3d. Sales reported:—Oonsc ' dated Goldflelds, 18s 3d; ,■ Old Hauraki, ■ ad, 4s 8d; Waihi Grand Junction, 355, 2 ' 355; Boss Goldfioldc, 85 9d; Kurunui Oa ' donian, Is Id. GOLD RETURNS. . FBIS3 ASSOCIATION. DTTNEDIN, January 1' Dredging returns;—Alexander Burel i 20oz, Bleotrio No. I. 19oz Udwt, Waike ' 16oz 14dwt, Mastorton 15oz 6dwt. SALES OF LIVE STOCK. AT WAIKANAE ON WEDNESDAY. Abraham and Williams report:—l yarded 2000 sheep of various doscriptio': our yards being taxed to the utmost. Bi era were represented in large number?, a we have to most successful sa We sold the whole "yarding, bar one li of aged ewea and one line of wethers, ' very satisfactory prices. Wo had a em yarding of oat/tlo, which met with a rea sale. Cull woolly lambs 4s to 4s 2d, em shorn lambs ss, woolly rape lambs 7a > shorn, rape lambs 7s Id, 4-year breedl ewes 10s lOd, 2-tooth ewes 109 9d to 12s 12s Bd, store ewes Bs. fat ewea 10s 6d, 1 wethora lis 4d-to. 12s 3d, forward weth< 10s to 10s 3d to 10s 6d, 2-tooth wethers mixed weaners 28s 6d, 3-year steers £4 to £4 10a 6d, 2-yoar steers £3 10s, months steers £2 12s' 6d, oows and call £2 15e, heifers in calf £2 7s to £3, yearll bull 31s, aged bull £3. ATI PALMEBSTON ON THTJBSDAY. Abraham and Williams report :—Wo off ed good yardings of both sheep and catt Sheep were very dull of sale, and wt practically all passed in under the ha mer. We managed to quit a good, line wethers privately. Cattle met with, very brisk sale, and we made a total oles a ace. We offered sevoral very nice lie of fat heifers on acoount of Mr 0. B. Ti torsaU, Kairanga, which made'from £4 6d to £5 Is. A line of forward bulloc] an account of the same vendor, realised 2s, and a truck of fat bullocks £7. Tv tooth forward" wsthera made 9s 6d, f ewes 9s; forward bullocks £6 2s, light i bullocks £7, steers from £4 7s 6d to £4 : 6d, fat spoyod heifers '£4 3s 6d;to£s fat cowb £4 19s, Ayrshire heifers in cs £3, • weaners £1 to £1 3s 64 spring!; heifers £3 16s, store cows 30s to £3 1 buIU £1 to £3 it 6d, cows in milk £3 £4.. Balgety, and Oo.' .report:—A tmall ent of stock came forward, the demand i which was not keen. Ewes with a saw percentage of lambs (all counted) 6s, f and forward owed Set 3d; medium jvool

ir lambs 7s. backward springing heifers £4 se, springing heifers £5 5a to £6. " AT TTPPEB HTPTT ON THTJBSDAY. le Dalgety and Co. report:—Stock came forte ward up to advertised numbers, and filled the yards to overflowing. A practically complete clearance of slock yarded r J was made at prices very satisfactory to ven- , .dors. Forward wethers 10s, fat owes 8s ' lOd, good forward lambs 7s Id to. 8s 6d, 18 small woolly lambs 5s Id, aged breeding ; r ewes 6s Id to 7s 3d, cull lambs 3s 7d. Over ,p r 300 head of cattle were yarded. Forward 2j and 3-ycar steers £3 ICa, £4 ss, £4 10s. and £4 Us, 18-months to 2-year steers £2 r f 13s to £2 19s, good weaners 255, fat and forld ward cows £3 12a and £3 12s 6d, store '■ empty cows £1 106 to £2 17s 6d. dairy cows "• from £3 5s to £6, young bulls £2 Is, £2 i s in, £3 ss. and £4, aged bulls £2 9s. Ir FRUIT AND PRODUCE. WELLINGTON QUOTATIONS. A far more even and better tendency is noticeable in the fruit markets. At the same time, as ia usually the case at this time of tho year, the tremendous quantity of plums under culture is responsible for the weak state of the market, which is a climatic feature of tho month of January for this particular description of 15 fruit. For those who are desirous of 1 ->. making jam, 'the time is now most op-' d- portune to secure suppik-3 at low prices. d; Peaches, which had been arriving freely i-t last week, have taken a stronger turn,' m and values have advanced. With so much i., other fruitß about, the attention devoted 3s to strawberries is much lessened. Black 10 currants are maintaining an excellent de--4s mand, and rates have hardened. If anys thing, this line is short of supply, and the d, same remark applies to raspberries, which D have had a sudden cessation in tho quanta tity "'arriving. Apricots can also be num£2 bered amongst those lines which have a 'o- better outlet than that which existed last 6s week. Some excellent samples from ■s: Teviot will doubtless be available Bhort--5s ly. Very small quantities of local pears s have arrived so far, and apples are com--8 ing forward fairly freely with an improves). ment in quality noticeable,. and conse'd, quently an advance in price. Both green--1 - gagos and nectarines are in scarce supply, -e " as these two lines are the latest on the market for this season. Tho demand for orangeß is increasing, and much higher 40 rates are eipeoted to exist before further :e . supplies from California, due on the 25th instant, come to hand. 9 ), Apples, choice local dessert 9s to 10s ;ig case, prime 7s to Bs, good 4s to 6s, cookers ■o- prime 4a 6d to 6s, good 3s 6d to 4s; Btrawld. berries, choice la 6d to Is 9d lb, prune 1b to 8s Is 3d; apricots, choice 7s to 8s half-case, jd prime 5s 6d to 6s 6d; greengages 5s to 6s "a half-case; nectarines 5s to 6s; . lemons (local) 5s to 6s; grapes, choice 1b 6d to 2s lb, prime Is to Is 3d; plums, choice 2s 6d rB to "3s 6d small case, prime Is 6d to 2s; gooseberries (ripe) 6s to 8a half-case; raspberries 6s to 7s bucket; pears, choice dessert 5s 6d to Vs half-case, inferior 3s to 4s. POTATOES AND ONIONS. Since our last remarks the market has d- taken a downward tendency, suppliea having increased. The consumption remains strong, and the quality is generally flrstolaas. Some new season's local onions have oome on the market, but they arc too green yet to command the same prices' as Victorian.. As the season advances they will take the place of imported. At the same time values here for New Zeaq, land onions will be guided by prices ruling in Victoria, Whioh for the past few weeks have deolined, until they are now at nominal level. Potatoes, prime £6 8s t£6 10s ton, good £5 to £6; onions (im--3* ported) £7 5s to £7 103 ton, locals £5 10s to £6. ■'/ OTHEB VEGETABLES. 0* A better tone continues to prevail in the local markets, several lines having advanced in price during the past few days. Tomatoes, however, have arrived in far heavier quantities, and with this one exception, values generally, are satisfactory. Cauliflowers, choice 7s to 9s sack, prime 4s 6d to 6a; cabbages, choice 6a to 8s sack, prime 4s to 5s 6d; mar Tows 4s to 6sßack; pumpkins 5s to 7a saok; green peas, choice lOd to Is peck, prime 6d to 8d; cucumbers 2s to 4a do&en; broad beans 4s 6d to 6s sack; French beans 6s to 8s sack; beetroot 4s to 5s sack; asparagus, large bundles 8s to 12s dozen, small 4s to 6s; carrots 6s to 8s saok; turnips 5s 6d to 7s sack; tomatoes, prime 4s, 6d to 5s half-case, inferior and green 3s 6d to 4s. FBESH EGGS. 0 j Tho market continues to t exhibit a weak tone, values ranging from' 1b Id to Is 2d j.' per dozen. . Jj ' POULTBY. Is- Demand continues satisfactory. At .the n, same time supplies are well up to rely quirements. Good hens 3s 6d to 4s> pair, .), fair 2a 5d to 3s; roosters, good heavy 4s a, '6d to ss, .fair 3s 6d to 4s; turkeys, ■ gobblers 16s to 20s pair, hens 8s to 103; o- ducks, good heavy 5s to 6s, fair 4s to 4s ss 6d. ' .■■■■■'-■"./''„ ' ' at ■ ' ' ' 4s -.:''' ,'.:■ "> Dateety and Company, Ltd., have .rein ceived the following advice " from their London house, under! Thursday's 'date: "Wool—Datea of our own sales are Janus; ary 19th, 25th, and 28th, and February 4s 2nd. Frozen meat—The market Tor mutn, ton and lamb is firm at last quotations. Beef is in limited demand, at prices somell" what in buyers' favour. Tallow—Any 4s change in prices iB in favour of buyers:: i3 > Babbitskins—For furriers .any.' change,'in ;e " prices is in favour of sellers. Other de-, scTlptioaa are id to 3d higher," The Customs revenue received at Wellington yesterday totalled £2155. ■'■ ''.■'■';