COMMERCIAL.

Press, Volume LVI, Issue 16854, 7 June 1920, Page 9

COMMERCIAL.

BANK OF ENGLAND RETURNS. (By Cable—Press Association.—Copyright.) (Australian and N.Z. Cable Association.) . _ _ LONDON. Juno 3. The Bank of r.ngia.na returns for the week ending Juno 2rd afford the following comparison with thoso of the previous week:— May 26. June 2. £ £ Coin and bullion .. 111,994,000 113,921,000 Reserve -.. .. 19,441,000 19,102,000 Proportion of reserve to liabilities per cent. 16.50 12.9 Note circulation .. 111,164,000 113,807,000 Government deposits 16,604,000 21,242,000 Other deposits .. 101,180,000 127,322,000 Government securities 34,356,000 66,618,000 Other securities .. 81,716,000 80,587,000 Short loans, sg. ]er cent.; throe momths' bills, GJ per cent. GOVERNMENT SECURITIES. LON'DON, June 3. Tho following are tho latest quotations for Government securities, with a comparison with those ruling last week: — Last week. This week. £ e. d. £ 6. d. 2i per cent. Imp. Con. 48 0 0 47 2 6 5 per cent. Imp. "War Loan .. 86 5 0 85 15 0 3i per cent. Imp. "War Loan .. 83 0 0 83 5 0 5i per cent. C'wealth Loan .. 96 0 0 95 la 0 5i per cent. Cwealth " Loan .. 93 15 0 94 0 0 N.S.W. 4's, 1933, Jan.Julv .. 76 5 0 75 7 6 N.S.W. SJ's. 1935-50, April-Jan.-Julv .. 59 15 0 63 0 0 N.S.W. ' 3'a, 1935, „ April-October .. 59 10 0 58 15 0 Vic. 4's, 1920, Jan.-July 99 5 0 97 15 0 Vic. 3Vs, 1921-6, Jaa.Julv .. .. 82 0 0 80 15 0 Vic. 3i'"s, 1929-40, Jan.- ' July 55 15 0 55 0 0 Vic. 3's, 1929-49, Jan.July .. .. 59 10 0 59 lo 0 Q'land 4's, 1924, Jan.July .. .. 87 15 0 S6 0 0 Q'land 3i\ 1921-24, Jan.-Julv .. .. Si 0 0 84 0 0 Q'land 3's, i 922-47, Jan.- r „ Julv .. .. 55 0 0 53 17 6 Q'land *3i's, 1930-40 .. 94 0 0 94 ol> N.Z. 4's, 1329, MayNov. .. .. 91 5 0 91 10 0 N.Z. 3i's 1940, Jan.- . July .. .'. 66 2 G 6o 10 0 N.Z. 3's, 1945, April- „ October .. 57 2 6 57 . 6 S.A. 3Vs, 191G or after 66 10 0 6o 10 0 S.A. 3's, 1930, Jan.- „ n . .. n „ July .. .. 49 15 0 43 0 0 Tas. 3Vs 1920-40, Jan.- n n n Julv .. ... 64 10 0 03 0 0 Tas. :r s . 1950-40, Jan.- . - July .. .. £2 0 0 G1 0 0 W.A. 3Vs, 1920-35, May- n I November .. 71 0 0 .0 lo 0 j \V»A« 3s, 1910-35, i«» « November .. 67 13 0 6, la 0 FOREIGN EXCHANGE RATES. LONDON, June 3. The .foreign exchange rates on non afford tho following 31. June 3. Paris (fr.l .. 25.22 50.00 -0.90 Christiania (kr.) .. To 18 •"'0 Stockholm (kr.) .. Calcutta (rpe.) .. L "j ?, 5 ,i. lO Montreal (dol.) .. 3 ' gsi 3.32? New York (dol'.) 4 ' Su

LONDON "WOOD SALES; (Received June.6th, 5.5 p.m.) , LONDON, Juno 4. At the wool sales there was a good selection of Creasy and scoured merinos* Prices were fullv firm: Crossbreds wero unchanged, and the cheerful tone was maintained. j SHARES. (Received June oth, 5.5 p.m.) LONDON, June i. "Waihi Junction —Buyers 10a Sdj Fellers lis. j THE Zmd CORPORATION; (Received June ftth, 5.5 p.m.) JjONDON, June 5. Tli© /sim> Corporation does not pay a participating dividend on the profit of £77,877. Owing to the suspension of operations, £31,843 of t£e sum appropriated for development and £10,000 appropriated for r.enr plant out of tho 1918 accounts lemain ■unexpended. These, make the. total available £119,950. . Tho direotors appropriated £28,000 for development and no-W plant during 1920, Preferential dividends absorbed £49,138, the bal- j anoo of £42,811 being carried forwardi ENGLISH MARKETS. (Reooived Juno 6th, 11.5 p.m.) L6NUON, June 6, Cotton—Liverpool quotation, American, middling upland, July delivery, 25.44 d. Itubbtr —Fino hard Para 25id, _ Plantation first Latex creipe 2-1 Jd, smoked ribbed sheet 21id. Hemp—Tho market is neglected. Prices are ■unchanged. Jute—June-July shipment £57. Copra—The market i 3 weak. Pricos tue nominally unchanged. Linsoed oil—£9l pe-r ton. Turpentine—l7oa per cwt. j ANTWERP "WOOL SALES. I ANTWERP, June 4. I At the Australian wool sales there was j moderate bidding. Priccs wero irregular, | and showed a decline of 25 per cent. There i were 11,000 bale 3 offered, and 2200 sold. J TALLOW. j The New Zealand Loan and Mercantile | Agency Co., Ltd., have received the following cablegram from London, dated June 2nd: TaSlow.—'We quote present spot values for the following- descriptions- of tallow:—Fine r.'utton, £4 Cs Gd per cwt.; good beef, £4 4s 6d per cwt.; mixed, £4 per *wt. Small demand; likely to go lower. | Dalgety and Co., Limited, have received . t.he following from their London office, dated , 2nd inst:—Tallow.—At the weekly auction! 1910 casks were offered and 203 sold. Prices are on the average nominally 2s lower. 'There I is scarcely any competition, the Homo trade being uninterested. ASHBURTON GRAIN MARKET. Business has been of a fairly quiet nature during the post week, and transactions have been chieflv between merchants. ■Wheat.—Small offerings are still coming r,n the market, but it is ouite evident that the majority of the season's wheat has already been handled. Fowl wheat is unprocurable_ owing to the mills accepting any lines of indifferent qualities. June pricce are: Pearl 7s lOd, Hunters 7s 7d, and Tuscan. 7s 4d f.o.h. . . Oats—The position is sinl fairly firm, pnd a fair amount of business has passed between merchants, as offings from growers have now eased off. With the probability of the removal of !'•/> Australian duty, enouiries are still coming from other A Gortons are nominally worth 5s Id to 5s 2d, B Gartons 4* lid to ss, nccording to rail, under-grade Gartons 4s 3d to 4-s lOd, on trucks, 'conntrv stations. Potatoes.—The position is almost at a deadlock, as merchants sufficient; to fulfil existing Island contracts, and growers nr<-- v~i ' iT^-ri nrr_ to tiny extent, no doubt aw-itinnr information in. regard to tho Australian embargo before doing so. Good table varieties are nominally worth £3 13s to £4 on trucks, sacks extra. Chaff.—There is a good demand, but merchants are nnablo to cope, with thss commodity to any extent, in coftsequcnce cf the absence of shipping space. , DUVAUCHELLE SALE. At the monthly stock sale at Duvauchdle on Fridav there was- an entry of eome 250 head of "cattle, mainly fats. The stores, email in number, did 'not meet with a ready pale. Competition for the fats was rather dull, though the bulk of the cattlc passed in were subsequently sold privately at average market rates. The range of prices was:—Fat steers £10 10s to £21 15s, ial cows £9 5s to £14 7s 6d, fat heifers £10 7s fid to £15 ss, 18-months rleers rnssed in at £-1 17s 6d, store cows £3 5s to £S, springers £7 .10s to £15, calves £2. LAND SALE AT DU7ATJCHELLK. - At the Duvauchelle tale on Friday Messrs

H; Masison. .<md CO4 in . conjTrncflro with Pyne, Gould; Guinness; 3/td-, acting tJjidot instructions from Mr .T: R; I?h acker; frffsred tlio four Years' lease of t.lie, Piper homestead and attached Rock' 6f 103 teres; After scmo keen bidding! ihc lease Jnockfd down id Mi 'Jhos; Mcintosh at £1 7s fid per acre; , . . • _ .• ; .; | Messrs S: Mfttson .mid Co., in. conjunction • ■with Messrs %Y:_D: .Wilkins and sold U anstipn Ml.« .M: A: MtrOiillmigli 3. 2-iCKicrc farmi situated iri Le Bon's Bay; in three lots: Results i-Lot. i ( 40 acres, £od per acre, Mr J. Ik.-Gracia; Lot 2j 80 acres, passed in at £27 pejr ncTe; I/oi 3 ( <20 acres; £34 per acre, Mr W: Leong-Tdow . A section of. SO acres) fuWed aj Okaina Ban wns sold to behalf of Mrsl L. E: to Mr C: fl: Thackor, at ±60 per acre: , poultry And pigs. i At the Aehlnirton 6lock and produce |ak on Saturday hema made up to 'f' r ° oat^ 9 to 7b Dd, ducks to is Cdi fat pisS to ST> porkers io 68a, Etwea to COs. ancl weaners from lis to 29s j calves 69 to IGS. HIDE PRICES SLUMP. Tliero was ». decided fall in the pri«a. of ox and 00W hidos, and particularly of dlfekina ai tho Wellington etlc« on *riday. Mossr* Levin and Co. report that. was tho usual bunch o£ exporters present, hut tho attendance of tanners was vory sniall and pricos were very orrntio. In sympathy with tho Australian market, and practically no American demand, business was only possible at an all-round decline for all sorts. As compared with tho values current at the sale held a fortnight ago, ox and cow-hides B hoW a decline., irrespective of weight and condition, of from 4d to 6d per 10, while kip and yearling were from 4Jd to 9id per lb lower. Calfskins were from 12£ d to 16id per lb lower." Prices realised were a* follows: — , Ox sound. 70lb and oveT, 14d to 17gd, • 591b to 691b, 14& d to lGld; 531b to 58lb, 12jd to 16id; 451b to 521 b, lljd to 13gd; C3lb to 441b, Ud to 13Jd. Ox, cut and elippy, all grades, s*d to 15 j d. Cow, sound, 451b and over, lljd to ISJd; 331b to illb, lOd to 13d; cow, cut aDd slippy, all grades, 6d to lljd; yearling and kip, sound, lllb to lGlb, ll}d to 13d; sound, 17321b, lOd to 13d; . yearling and kip, cut and slippy, all grades, fid to lHd. Calf sound first quality, under Gib, 13d to 21 Jd, 6lb-Blb, 15Jdto21id; 9lb-101b, lljd to 13d; calf, cut and slippy, 3d to IGd. , Bull, stag, 4id to 10id; horse, 5s 9d to 355. - THE PROPERTY MARKET. ' ! Jones, McCrostio Company, Ltd., sold by public auction, in their land sale rooms, on Saturday, on account of Mr A. J. Ormandy, a residence of 4 rooms and about an eighth of an acre of land, situate at No. 35 Cranford street, St. Albans, for £450, to Mrs Robertson. UNEATABLE FRUIT. ORANGES FROM : THE ISLANDS. More than half the shipment of 20,000 cases of orffiiges that arrived in Auckland on Tuesday by the Talune from tho Eastern Pacific" Islands was totally unfit for human consumption when it was unloaded. The unusually bad condition of tho cargo, which will entail heavy loss on consignors and consignees alike, is attributed by merchants to tho fact that tho Talune was delayed two days in salving a vessel off Tahiti, before she began to collect the orangeSj which wero lying ready at various ports. Owing to the delay, the great bulk of the fruit was subjected «to several days' exposure to tropical rain end tropical heat, with the result that much of it was on the verge of being rotten before it was placed in the ship's hold. At s<Jme of the Island stations, where there were no facilities for storage, the cargo was left on the beaches until the steamer calksd. This happened with i 2500 cases at Mangaia. At Raxotonga tho only wireless operator was ill, and tho traders were thus unable to ascertain tho time of the vesoel's arrival, with tho result that the fruit was picked and packed too soon. Of the deteriorated fruit, ICO cases were sold by auction by one auctioneering firm ou "Wednesday, tho price per case being from as to 7s. As it ccsts 2s each to 6end tho empty cases to the Islands* and the freight on each full case was 3s, the various consignors and consignees sustain a heavy loss. WOOLLEN GOODS. Friday's Auckland' "Star" says:—Tho roports of a heavy fall in wool on the London market are apparently not going to have any immediate effect in bringing about an early slump in tho prices of clothing in New Zealand. Whatever may .bo the explanation I it appears that the prices of tweed and wool--1 lens are not being reduced bv English manufacturers. Messrs Sckneidema.ii ij.-os., Ltd.,

have test, received tbe ieiegTam from tjfrristclrurch agonls of a Bradford firm"Manufacturers advise that your irdcrs of MtKeh 15th are subject ta Spprori-* io per cents advance.' Do jotf confirm ?'* CRADDOCK'S AGENCY CO., LIMITED: AUCTION SALE BEPOKT.There waa .*v good, attendance at the aii-ctioii aalo Of select Sumner properties, hold by Urnddoek'a A&encv Compare Limited; >t their raoms on. Saturday; .Bidding was. brisk throughout the 6ale, but in hd feaad did f tba price offered reach the owner's reserve; The highest bid 3 were as follows »—For JW.it-' Bon's fino hillside .residence* being () •' 'J "Th<S Spur," £lßsoj for Mr Menjsies' bunco loW; Dtiry Street) etre«t, for two liill sitedj "Bell Viie," £20Cfj tor an Es-" planade section of 80 perches, Mr Teape's, £650 j a qi;arter-aere section iii, TtU-' hiaro fetrooi, just east of Manchester street) was passed fe/t £000 j a residential property itl Kolleeton, street, Lirrwood, wB3 sold inn mediately kfler the auction for i*32o< There is a ■very etrong dsmand for all classes of residential propetdea at present, but in many oases brosjMsotlvo purchasers do not ivppesf to realist the gT«<illy increased cost of build-' ing, and the consequent higher values ne-ce«-•anly placod upon such properties, iiot only bv ownsra but by local authorities and v-iiluorfl goiMT&lly. At present' tboro does not appear to be any iudicntion of prioo-i fallinp. On t)10 other hand, competent pudge 9 are of opinion that valu«» will contmuo to rise. The company will hold an auction -salo of well-situn-tod and very usaful residential properties in thoir rooms next Saturday, at 12 noon. Particulars appeared in laat Saturday'a payors. G •SATURDAY'S POULTRY MAKKET. Messrs J . B. Merrett and Co. - had a good entry- for their poultry sale on' Saturday.

Tabia ttjcfcems realised 6a to 12», keiw 4® io fia, jrallotff ?s Cd to 18b, duck* 6s to 10s, ge>eso 83 irt ICS, turkey® 16» to 68b, all P«* paJF* KG(? MARKET.'Chr- supply «/. had faileii. fiff ft'jj.ttky fluct. lite. ma-rJiei has i»pide®««.- l¥B|rf w«4Mte' day's jiatingo CSanterbarf. Circled "*®t graded rf-aSsco Ss/ #e«aoite l & Ma.CEMENT fetfPPl/lES, Mr P.- M.- Climie, organiser l tit tkcf CMltjW* trary Progress lieague,, leoeivefl ltw fdlkrtndg ielegiam from the Prime Minisw* 1 <tA M&tiit-' d*T>—'telegram jost reCffireds A<d asfciri£ Board of Track to specially VMM iflto the inattoi 1 .of cement. feuwplied« fcfla iuilaar commonißatiorl trill ba eent> ycnl ul flu" ccrniso.-" STOC& EXCHANGES. DIXNZDXN. Jan* 6. SaloS on 'Chang»T—Huddart-PftrlsOT, Bit 6d ( 53s ?.J J "Westporfc Coal, 81* 6d. WEIXIITGTON. JUM 6flak reported:—Huddart-Pniw, £3 18# fid. CONSOLIDATED MINES. Tho Christchorch Stock Exchange hi* received tho following advice from the Conablidatcd Group of Mines, Beoftcmw of tho crushing returns for the month of May:— Progress.—Crushed 1130 tone, valn« £15228; working czponsoa £1730, d«wik>jwn«nt Jflll. Blnckwater.—Crushed 2180 tonflv Y*ln® £3716; working - expcneca £3727, shaft £165, development £543. Blackwa-tor No, 6 1««1 iouth, 3404 feet reef exposed, avenge ■width. 28 inches, assaying l 12dwts. | Nasal Catarrh, or Cold in tho Head, | pnth all its disagreeable symptoms, will bo quickly relieved and cured by "NAZOL." 2