COMMERCIAL.

Press, Volume LIV, Issue 16163, 18 March 1918, Page 8

COMMERCIAL.

(By Cable.—Press Association.—uopyriglit.) (Australian and N.Z. Cable Association.) BANK OF ENGLAND- RETURNS. LONDON, March IG. The Bank of England returns for the week ended "Wednesday, March 13th, with those for the previous week, are as follows: — Mch. 6. Mch. 13. £ £ Ooin .. .. 53,075,000 59,137,000 Rcfservc .. .. 30,944,000 31,251,000 Proportion of reserve to J labilities .. 17.31 18.70 Circulation .. 47,951,000 47,284,000 Government deposits 41,022,000 38,358,000 Otbey deposits .. 137,715,000 128,998.000 Government securities 67,737,000 Other securities .. 95,191,000 —. Short loans, 3J per cent.; three months' bills, 3jj- per cent. GOVERNMENT SECURITIES. The following are the latest quotations for Government securities, with a comparison with those ruling last tvcck: — Price Prica last week, to-dar.

MARINE INSURANCE COMPANY. (Received March 17th, 5.5 p.m.) LONDON. March 16. The British and Australian Insuranco Company, with a capital of £100,000, privately subscribed, commences marine insurance business immediately. ASHBURTON MARKETS. . The weather for the past week has been fine, and threshing out of stack is in full swing. Deliveries of wheat arc being made in large volume, but there is an acute shortage of railway trucks at present, which is unfortunate, as labour is scarce and farmers wish to take full advantage of the dry weather.

forward still shows unsatisfactory condition, having been threshed of I stook in bad order, or too soon after being stacked. Millers are not prepared to accept wbieat of doubtful quality or condition, but there is a big demand for sound, well-conditioned grain. Oats.—The quantity of any variety of oats coming on the market is very small, and prices have advanced so rapidly during the past fortnight that it is now difficult to state a standard value. (Growers are firm holders, and some merchants are practically not operating, considering present prices not warranted. Algerians may be quoted at from 3s 9d to 4s, according to description ; Gartons from 3s lOd to 4s for B grade, and up to 4s 3d for heavy samples; Duns from 4s to 4s 3d, accordin S to quality—all quotations on trucks. Chaff. —yalue of prime quality rp--mams at 95s to 100s, on trucks. A large proportion of the chaff on offer is of very poor quality, and even with chaff rulinrr at a high price this quality is neglected.

OXFORD MARKET. following lines were disposed of at the Oxford sale on Thursday, in ad- | dition to those already reported:—Fat shpep—For I. Vincent, 82 lambs at 27s h J ho mpson, 78 at 29s 8d: A I 1 !; v q te ' '2 at T - Monk/ 140 '}■i 'r J'vr", Thompson, 18 at 29s i'Od ; 1. N Monk, 37 at 29s 7d: H. F. Luers, 10 at_2Bs. Wethers—H. F j Luers, 19 at 355. Store shesp—For T. Vincent, 180 six-tooth ewes at 38s • II! I„uers, 103 forward lambs at 24s 9d if rapej ewes at 15s od; W. William*; 196 wether lambs at 20s 3d, 105 ewe • :^ IT lkV' ) i t pi V ' Thom P s °n, 39 twotooth halfbred ewes at 3os; T. C. Home Ow two-tooth halfbred ewes at 33s 9d ■ i * au «s , and L l ul^ s , 198 wether lambs at ._os lid, and 309 two and four-tooth ] wothers at 2,s 7d; G. J. J.illy, 105 j mixed sex lambs at 25s 2d; clients 79 ; cull lambs at 13s 4d; €2 ditto at 17 s ' 6d j and 20 rape lambs at 14s 3d. ' |

I TATTERSALL'S HORSE BAZAAR. ! Messrs H. Matson and Co. had an | entry of 28 horses on Saturday. _A S , s usual at this time of year, very fewyoung farm horses were on offer, tiie bulk of the entry consisting of aged draughts and harness horses. Prices were quite up to recent sales, and tho supply was unequal to the demand. Among the sales made- were: For J. R. Devereaux, city, trotting mare Dimness, £30; Mrs McMeekan, Christchurch, harness pony, £16; E. .lesson, Harewood, eight-year-old mare £9; G. Murie, Spreydon, seren-year-old gelding £11; client, six-year-old mare £10, seven-year-old gelding £12; H. Adams, Woolston, six-vear-old mare £15: client, seven-year-old gelding £10 ss: A." Taylor, Halswell, aged gelding £12 10s; client, aged mare £9 10s; T. Bishop, Papanui, three-year-old gelding £12. Aged hacks and harness horses sold as usual. SATURDAY'S POULTRY MARKET. Messrs J. 8,. Mcrrett and Co. had a

largo entry for their first Easter sale, nearly 3000 birds being entered. There was a good demand for prime' qualities. Table chickens realised 5s 6d to 9s 4d, hens 2s 6d to 6s 3d, pullet? 4s 6d &o 3.3s 6d. ducks 4s to 7s 9d, g»eepe 7s to 9s, turkeys lis to 325, all per pair.

HAWARDEN EWE FAIR

THE RECORD PRICES

After the reporter of "The Press" left to catch the last available train on Friday from the Hawarden ewe fair, some sales were made which beat the published price of 50s obtained by Mr J. K. Forrester for a line of 100 two-tooth halfbred ev/es. Messrs H. Matson and Co. sold for 3lr "W. C. Davie (Glenovis), 151 two-tooth halfbred ewes at 50s 9d (top price), to Mr A. Covie ("Woodgrove), and for Mr P. Macfarlane (Woodgrove), the same firm sold 120 two-tooth halfbred ewes at 50s 6d, to Mr J/ Marsden, of Hawarden.

LAND SALES. At Ashburton, on Saturday, the .New Zealand Farmers' Co-operative Association offered, on behalf of Mr James Copland, of Chertsey, 1031 acres of land, which was passed in as a whole, and again when offered in three lots. Lot 1, 197 acres, was passed at £13 10s per acre, and Lot 2, 314 acres, was passed at £10 an acre. The New Zealand Farmers' Co-op. Association, with Messrs H. Matson and Co., held a sale of four farms, in the estate of the late ('has. "M'ithell, on Saturday. The area was 515 acres, situated in the Ellesmere district, and known as the Manor Farm. There was spirited competition for some of the lots, and sales were made as follows:— Lot 1—156 acres and homestead—£46 os per aero, to Kibbiewhite and Vaughan. Lot 2—106 acres, £33 10s per acre, Kibbiewhite and Vaughan. Lots 3 and 4 were withdrawn at £30 per acre. Jones, McCrostie, Ltd., sold by public auction on Saturday a property in Lancaster street, Linwood, on behalf of the Registrar, for £560; and also a Maxwell motor-car for £150.

THE CEMENT INDUSTRY. AUCKLAND COMPANIES COMBINE. - n c ° n nexion with the cement Lp.. 4 m Auckland province have month* _ an < unsettled state for softie ™ent fn rW owi »« to tbe adland Omp'n+ r the Dominion PortSr lZ m,ll ?r- v ' w hich has a i " *i nill (telegraphs the -\uckthis cone,™ fnmj'"'"f ""rated in it i, unfetood. si" 4 jsssßg :

When this company started manufacturing three Auckland cement companies were unable to find a market at a profitable price for their total outputs, and in November last the assets of the Dominion Company were placed in the hands of a liquidator. These assets were subsequently sold at auction in Auckland, and purchased bjr Mr E. Gcrrard foi £137,750. The position has remained unsettled since that time, but during the past few days a. sharp rise in shares of the "Wilson's and New Zealand Cement Companies suggested that some move was in contemplation. In consequence of this, Mr George Elliot, chairman of the Wilson Portland Cement Company, was asked if some inI formation could not bo given of rumours that were abroad. Mr Elliot replied that his original intention was not to say anything until arrangements had been finally completed, but as so many of their shareholders were writing from the coiintry for information, he decided it was opportune to state the position of his company. The statement was then made that a tentative agreement had been entered into to amalgamate tiie three Auckland companies into one concern, and shares will be allotted, subject to the consent of the shareholders, as follows: The Dominion Company, 285,000 shares; Wilson's Company, 220,000; New Zealand Company, UojOCK)—a total capital of £600,000. Before the fusion outlined above can be completed it will be necessary for it to itccivo the sanction of the shareholders in all the companies interested. The present share capital of Wilson's Company is 100,000 shares of £1, and that of the Now Zealand Portland Cement Company 110,000 shares of £1. If the proposed scheme is carried into operation it may mean the closing of on<? or two mills until the demand for ccment in New Zealand justifies the running of ail of them. |

CLARIDGE AND SMITH. REPORT OF WEEKLY SALE. Two heifers £12 each, £13 10s, £14 2s 6<3. £15; ches. gelding, £9 os; gelding, £3 os; bay marc, £11; long-shafter gig, £30 ; governess cart, £33; set harness, £3 ss, £5 10s, £3 7s 6d; b. plate, 27 a 6d; spring dray, £14'155: milk drums, 15s each; clover cutter, 31s; light express, £'26; corrugated iron. 3s 6d; churn, 15s; wheat, 17s 6d to 21s; separator, £3 ss; petrol engine, £15, cherry netting, 37s 6d to £3 2s (kl roll; grubber, 36's;. pair wheels, £2 14s; gun, £2; bos-tart, £8: horse-cover, 265; weaner pigs, 19s to 225; sundries at late rates with a good clearance. Total, £322 3s Gd. POULTRY SALE. ! Pullets, 8s: hens, 3s 4d to 4s Id; cockerels, 3s Id to 7s lid; ducks, 4s to 5s 6d. TTiere was a good entry, and prices -were somewhat better. We have a consignment of turkeys coming forward for next sale. . 6 EGG MARKET. The i?gg market continues to be well .suoDliedj and there is a good demand.

Canterbury Egg Circle first grades arff Is lOfl, seconds Is Bd. ] WELLINGTON STOCK EXCHANGE. (PRESS association telegram.'* WELLINGTON. March 16. ' Sales reported:—Kaiapoi T.'oolien Comptuj (ordinary) £7 Za 6d; Soutti British InsKancs Company, £6 2e 6d.

£ a. d. £ a. 4. 21 per cent. Imp. Con. .. 54 0 0 54 0.0: 5 per cent. W«r Loan .. 94 10 0 93 2 G j 3 per cent. "War Loan .. 86 5 l) SR 5 0 I N.S.W. l's. 1939, .Tail. Jly. 82 10 0 82 i! G X.S.W. 3i'9,19S0-53, ileh.- j S«pt. .. .. 70 0 0 G9 10 0 JT.S.W. 35's, early cur- j re.rcy .. .. 99 7 6 99 12 fi ' N.S.W. 3's, 1926, Apl.-Oct. 70 15 0 70 5 0 Vic. 4's, 1929, Jan.-Jly. 96 17 6 97 0 0 Vic. 3.V'p, 1S21-26, Jan.-Jly. 86 7 G 86 10 o Vic. 3Vs, 1929-49, .Jan.-J'y. 70 7 6 69 0 p Vic. 3's, 1929-49, Jan.-Jly. G2 7 6 62 12 G ,■ Qland. 4'fl, 1915-29, Jan.Jly. .. *..91 0 0 91 0 0' Qland. 3Vs, 1921-30, Jan.- I Nov. ... .. 89 0 0 S9 10 0' <?,land. 3's, 1922-47, Jan.- j Jly. .. .. 62 2 6 62 2 G ! JC.Z. 4's, 1920, May-Xov. 86 7 6 8G 10 0 I N.Z. 3l'e, 1940, Jan.-Jly. 72 17 G 72 12 G : N.Z. 3's, 1945, Apl.-Oct. 62 3 6 62 5 0 ; S.A. 3»'a, 1939, Jan.-Jly. 72 15 0 72 10 0 i S.A. 3's, 1916 or after, j •• .. 56 15 0 5" o 0 : Tes. 3i's, 1920-40, Jan.- j Jly. •• .. 71 7 6 71 3 oj Tas. 3's, 1920-40, Jan.-Jly. 65 0 0 65 0 0 W.A. 3i's, 1920-35, May- : Nov. '.. 76 7 6 76 7 G I W.A. 3's, 1915-35, Mayis'ov. .. .. 69 12 6 69 7 6