COMMERCE AND MINING

New Zealand Times, Volume XXXVII, Issue 8609, 20 December 1913, Page 6

COMMERCE AND MINING

FINANCIAL CABLES

TIMARU WOOL SALE

WELLINGTON STOCK EXCHANGE. YESTERDAY’S QUOTATIONS. MINING. Murray Creek, now (pd)—ll.3o a.m., s 13s 6d pre-m. New Big River—ll.3o a.m., s £5 New Sylvia—ll.3o a.m., s IsProgress—ll.3o a.m.. sale Ts 4Jd (reported). Ross Reconstructed—ll.3o a.m., s 10s lid; 3.15 p.m., s 11s 3d. Talisman Consolidated—ll.3o a.m., b £2 3s 9d, 6 £2 3s 6d; 3.15 p.ra., b £2 12s (id, s £2 13s, salet, A"2 12s (reported). Waihi Grand Junction—ll.3o a.m., b £1 4s 3d; 3.15 p.m.. b A 1 4s 3d, e £1 ss. Nate.—Tho letter "b" signified buyer* ud *‘e” wellor-s, INVESTMENT STOCKS. Buyers. Sellers. Sales, £ a. d. Ji e. d. Jb «. d Banfcv — National of New Zealand 5 6 0 5 7 6 New Zealand 10 15 0 Union of Australia ... 4 0 0 FinancialWell ington Truer Loan 7 5 6 7 9 0 Gas — Christchurch. _ „ £5 - Wellington, „ £lO - 17 0 0 - Wellington, . pref. ... Insurance— National of Now Zealand —2 11 6 —■ Standard of New Zealand Xl2 0 112 6 Meat PreservingGear Meat Co., £4 13 0 0 Gear Meat Co., £1 3 7 0 ShippingUnion Steam, pref. ... 0 19 3 0 19 6 Coal — Taupiri ... Westport-’ Stockton ... ~ 0 4 0 Westport-Stockton pref., 10s pd 0 9 0 MiscellaneousBanks, C. M., Ltd N-Z. Consolidated Dental Co. 1 1 0 W.F.C.A., £1 pd. QUOTATIONS EDSE WHERE. Press Association. AUCKLAND. December 19Sales at this morning’s call on the Stock Exchange:— Roes, 10s lOd. Talisman, £2 3s. Grand Junction, -Cl 4s 9d. Afternoon, call; — Auckland Ga,s, 27s 9d. Now Zealand Portland Cement. 13s lid. Waihi, 51s 9d. Talisman Consolidated, 435. Waihi Grand Junction, 24s fid, 255. Ross Goldfields. 10s lOd. 10s lid. 10s fid. Reported, sales: — Bank of New Zealand (ex div.) AlO l£s. Waihi. Sis 9dDUNEDIN, December 19. Stock Exchange sale : Westport Coal, AT 9s 10d. Sales reported:— Westport Coal, £1 Kte. Ross Goldfields, He. , T'alisman Consolidated, £2 3s 6d. LONDON. December 18. Stock Exchange quotations include:— Waihi, £2 10s (buyers). A‘2 12s 6d (sellers). Grand Junction, £1 4s 6d and £1 5s Talisman. £2 and £2 2s fid. - MOUNT MORGAN MINE. BRISBANE, December 19Tho Mount Morgan returns for twen-ty-three days ended December 14th show that 22,395 tons of ore yielded 453 tons of copper and 5956 ounces of gold, a total value of £72,293.

BANK AND STOCK EXCHANGE REPORTS. (EfcciTcd December 19. 8.35 p.m.) LONDON, December 19. BANK OP ENGLAND RETURN. The Bank of England return issued for tho week ended Wednesday, December mb, is as under: ISSUE department. Notes Gov. debt £11,015.000 issued ... £28,796,000 Other secNo.es in untiee ... 7.434. M reserve ... 23.897.0C0 Gold 34.244,000 £52.693.003 £52.693,000 BANKING DEPARTMENT. Proprietors’ Gov. securcapital ... £14,553,000 it.es £11,194,000 Public de- Other sepotits ... 8.C23.003 curitios 27,018.010 Other do- Notes 23,897,000 posits ... 37,464,000 Coin 1,178,dX) Rest. 7-day and other bills 3,242,000 £65,287,000 £63,287,003 The loading items of the Bank of England return afford tho following compare sions: This Last Last week. . week. year. £ £ £ Bullion 34,244,003 36,242,010 31,406,000 Reserve 25,075,000 26.493,000 22,175,000 Note circu'lat'n 28,796,003 23.580.C00 28,757,000 Depasits 45,492,003 47,404,003 61.542,000 proportion . of reserve to liabilities 55.10 55.85 42.98 CONSOLS AND AUSTRALASIAN STOCKS. Current quotations for Consols and Australasian Government stocks, compared with those of last week, and the correaBonding period ot last year are:—

•Interest payable in May and November. ■Hntercst payable in January and T -'y. payaulo in April and October. THE MONEY MARKET. The Bank of England discount rate, which had remained at 5 per cent, since October I7th, was on April I7th lowered to 41, and on October 2nd was raised to 5. A year ago the rate was 5 per cent. The Bunk of Franco rate is 4 per cent, (since October 17th), and that of the Imperial Bank of Germany G per cent, isince November 14th). The open market rate of discount for i»st three-month bills is Is 3<i higher at 4j per cent.; a year ago it was 5 Short loans are unchanged at 4i per cent.;

twelve months ago the quotation was 4J. In Paris the open market discount rate is unchanged at 3} per cent. (3| a year ago; and in Berlin it is 2s Gd lower at 4} per cent, (6 a year ago). 'commercial cables By To.VMittDh—Press Association—Copyright (Received December 19, 8.50 p.m.) LONDON. December 19. GRAIN AND FLOUR. Wheat—The market is lifeless. There is absolutely no speculation, millers pursuing a. hand-to-mouth policy. Cargoes ara quiet. Argentine shipments are offering freely. There is little Australian on spot obtainable. It is nominally 38s. New Zealand is exhausted. Flour —The market is dull. There is a retail demand for Australian on spot at 26s 6d to 275. January shipment is quoted at 21s 9d to 25s c.i.f. Oats—There is practically nothing doing- Prices are easier. Beans—The market is steady and quiet. New Zealand, 3Cs 6d ex store. Peas —The market is quiet and prices' •unchanged. BUTTER. The market is slow. Danish unchanged; colonial weak. Australian, 116 s to 118 s. very exceptional 120 s; New Zealand exhausted. One hundred and twenty shillings, landed, has been asked for the Athenic’s butter, due on December 30th. CHEESE. The market is firm and prices unchanged. BRADFORD WOOL. Crossbreds are weaker and merinos more active. "Future” quotations'— 64’s 27d; super, 26}d; common GO’s, 2Cd: 56’e. 21d; 50's, 18£d; 46’a, 15d; 40’6, Hid. SUGAR. German beet sugar, "88 per cent, net titre, is quoted at 8s lid (last price 9s). net cwt- First marks granulated, 11s Id per cwt (last price 11s 3fd). PRICES OF METALS. Copper—On the spot. XG4 2s 6d per ton (XI 10s lower); at three months’ XG4 7s Gd (10s lower). Tin—On the spot, XIG9 10s per ton (X 3 12s Gd lower); at three months. ,£l7l 5s (XI 5s lower]. The market is weak owing to, "bear” manipulations. , Pig-iron—Middlesbro’ No. 3. 50s 2d per ton (last price 49s 9}d). L-ad —Soft foreign, Xl7 15s per ton (5s lower). Spelter—X2l 15s per ton (10s higher). WOOL SALES. By Telegraph—Press Association—Copyright SYDNEY, December 19. The wool sales have closed with strong and animated demand at. previous week’s levels for all better grades. Mediums and coarse were irregular; greasy to 153 d per lb. TIMARU, December 19. The first of the wool sales opened this morning. There was a large and representative attendance and keen competition. The catalogue is email, but the wool generally ig in very fine condition. The highest price so far is lljd for halfbred ewes. SHEEPSKINS SALE. LONDON. December 18. At the sheepskins sales 6900,,Australian bales were offered and 6200 sold. There was a fair attendance, but irregular comnetition, compared with October sales. Merino combings declined id, clothings id tb id, fine crossbred combings id, coarse ditto |d. clothings. id. W. and G. Turnbull and Co., Ltd-, report having received the following cable from London under date of 18th inst. :—Crossbred full woolled fine, declined id to id; crossbred full woolled coarse, declined id; crossbred half to three-quarter woolled fine, declined id to id. New Zealand Loan and Mercantile Agencr Co., Ltd., have received the following cablegram from London, under date 18th inst.:—Sheepskins—Merino and crossbred combings are about id to £d lower, and others about par to id lower. Dalgety and Co., Ltd., have been advised by cable from London, dated 18th inst.. as follows;—Sheepskins—As compared with last sale’s rates, merino combings are Id per lb lower, merino clothing id lower, and merino shorn pelts id per lb lower, crossbred fine combing skins id lower, coarse and medium }d to id lower. For short woolled and shorn pelts prices are unchanged. Frozen meat—The market is firm. Since our last cable prices are id to id per lb higher for mutton and lamb. Beef— Prices are unchanged. Tallow —Prices in general are unchanged. There is a very email demand for beef tallow. VICTORIAN GRAIN AND PRODUCE. MELBOURNE, December 19. Wheat 3s 5Jd: flour. X 8 10s; oats. If 7d to Is 9)d; barley, English 2s 9d to 3s Gd; maize, 3s 9;d; bran, X 4 10s; pollard, £i 15s; potatoes, X 4 to X 4 10s; onions, X 6 10s to X 7. SOUTHERN GRAIN AND PRODUCE. Press Association. CHRISTCHURCH, December 19. The inquiry for wheat remains unsatisfied, as those growers who still have any stock are holding firmly. Some of the Larger millers are well supplied, bur the smaller ones require to replenish their stocks, and the demand is all the keener becalse the wheat harvest is likely to be short. The cat, market is easier, as there is yery little demand, and the new. oats

crop, with fair weather for the harvest;, is likely to bo much larger than is ra« quired. . , , _ Tire demand for chaff has eased offlr and the price is not so firm. LITE STOCK SALES AUCTIONEERS’ REPORTS. N-Z. Loan and Mercantile Agency Co.. Ltd. At Palmerston North on Thursday w» bad 'a good entry of sheep and cattle , which sold as under:—Medium fab lambti 14« 8d to 14s 9d. good fat lambs 16s Gd. fat ewes 16s 9d, small yearling cattle X® 17«. yearling heifers X2 16s, 15-montls f steers X 3 8s Gd. 15-month heifers X 3 9s. fat’ and forward cows X 5, fat cows XA 3s, oows with calves X 5 12s, springing cows X 5 5s to X 7 12s Gd, bulls X 3 2s 6(1 to X 5 10s. At Feilding yesterday we had a smalt entry of sheep and a good yarding of cattle, which met with a goad sale. Quotations: —Medium 2-tooth ewes 14s, medium 2-tooth wethers 15s 4d, cull 2tooths (mixed) 9s Id. good weaner calve* 30s, yearling heifers X 3 7s Gd, yearling steers X2 9s. 18-month heifers X 3 11« to X 4 4s. 18-month Holstein heifers Xt 17s Gd. springing heifers X 5 15s to X 3 17s Gd. springing cqws X 6 ss. old cows, 23s 6d to X2, store cow r s X 3 16s, fat and forward oows X 4 19s 6d to X 5 ss, bulls X2 10s to X 4 17s 6d.

PRICES FIRMER. Press Association, TIMAETJ, December 19. At the wool sale to-day 7417 bales were offered, and 6821 sold. There was a full attendance of buyers operating. The wool was in good condition and bettor grown, but owing to the plcntifulness of feed woiv rather heavier in condition than usual. Dominion mills took all o{ the small quantity of merino offering, and most ot the fine halfbred. Brokers consider th» sale a satisfactory one. and prices were fully up to the present London equivalents. The range of prices, compared with those obtained at the December sale 10-st year was Deo., 1913. Deo.. 1912. d d d <t Merino 9 to Ui 8} to 12} Super halfbred and Corriedale 11 12 121 14. Medium do 9} 10J 111 12} Inferior do 8} 9} 9f 11 Super threequarter and crossbred ... 9} 11 12 131 Medium do 8} 9} 10} 11} Inferior do 7 8} 9 10 Best pieces 9 10} 10} 12} Medium pieces ... 7 8} 8 9} Inferior pieces ... 5} 6 7 8

Stock. ) [ Last This week Last week} Year. £ « d. | £ a d. £ .. d. 21% Imperial Cl? 71 15 0 71 Vo 3 74 7 6 4% New Zealand • 09 0 ol 08 0 oiioi 0 0 8l%New Zealandt RH 0 o! 38 0 c 91 0 (» 3 6 /o New Zealand t ?a 0 0! 78 u 0 go 0 0 4% New S. Wales 98 0 m 08 1) 0 101 0 n 3i% News. Wales 07 0 S! 97 u e 83 0 0 3 i% 1930-50 02 u 02 0 0 90 0 0 8% NowS. Wales 81 0 0! 81 u 0 84 0 0 4% Victoria 99 0 Oi 08 0 O;i00 0 0 31% Victoria 92 0 0i 92 0 0 94 0 0 3s % .. 1929-48 as 0 0] 88 0 0 03 0 0 3% Victoria 7rt u 0! 76 0 0 78 0 0 3j% Sth. Australia 83 0 0( 88 u (J 93 0 0 o% Sth Australia 73 0 O' 73 u u 76 0 0 4% Queensland .. OS 0 Oj 08 0 0 nifl 0 0 3*% Queensland 02 0 u 92 0 9 94 u 0 3% Queensland ., 76 0 0 70 0 V 70 0 0 3Ho W. Australia 80 0 u| 89 u 9 01 0 0 3% VV. Australia 70 0 0 70 0 0 84 0 0 3i -; 0 Tasmania .. 87 0 0 87 0 0 01 0 0 3% Tosmauia .. 80 0 ol 80 0 0 83 u 0