COMMERCIAL.

Dominion, Volume 2, Issue 415, 26 January 1909, Page 8

COMMERCIAL.

p : ;v.--.;„■<■;■• shaee-maeket.":' :---; ; ■!'; r : \;V'Tho; investment;' market- provided another te.-.-'. bUak for shareholders .yesterday, no trahsac|?S; tons !were recorded, and the quotations were |v{v:{ VijicrSmclyi.restribted.':.: Bank.of ; . New Zealand, p/ f ;:?.-,b\yers'; j&{ 9s:-;;Gd.';..National. Bank," .buyers ..£5 I; ;'r/,';t. .sellers 55.; South British Insurance, g.;-.';;.|■'■■'uJi-urs';Jt2:-'-10s.'; National Insurance, buyers ;<>'.," ; : a is. 6d.; Wellington Meat Export, £i paid, If:;;'. ; .':...'','(Jjlle'r.s..ißs;, Union. Steam, sellers :£l lCs.,\Sd.; P : H. Wellington -Woollen, buyers Is./ sellers ,£3 jj ;C ' £5.;.; Leyland-O'Brien Timber,! sejlers .£i 3s. ; jtf'.siv'oS*Zealand/Portland• Cement, bnyers ; ieii9s.',: WJso ; sellers Jil 10s.f.iiew'issue,"12s.-.6d. paid,, sellers' ,V S >ii. 15.;.6d.; New Zealand Paper Mills, sellers 3:,:;v;-i:i -2s. :3d. ■-';,: ;':,. :.w ;/ ;, ■."., ;;|f : .; f .THE .MINING. MAJRKET. . / ; . \ ""_ S'Ki/-' A sale of Waihi Grand' Junction':at '£l 35...V;,-; lOd. was reported, and this was all.:the busiWi?:S ness- recorded.. Waihis and Talismans were :,w.. in fair demand at full J market rates. The '■>.■'?::■:} quotations were as under;— , ,-; '~'.:■ K v ;'- V '~ ,V - r •- Buyers.'.. Sellers. Sales.' <-.A;-; : -.-:■■:;,, ■>-;'. \fis.d.. £ s.d. ;i 6s.d. '?-".■; ! Waihi' JGrand June- • •' ftw::'.-'tion -.;.•:.':■.;.;::" ... '.—'■' "■■■': :—' '.I"':'S 10 »:-;>Waihi :,.:. . : V;r ... 8 18: 0 9 0 0 ; —■ K :-. •',- Talisman <■ ... ...rZ- 6-3 :2 .7-0/;-: ; — • t-s Broken Hills' OrT0 r T 9 0' 2"0 ': — i ; ''.:' ; N.Z.-Crown ... ~...: 0 ; — ' ■■.■■.— •• V 'ffr. .Big::Eiyer &'; ■:. : ...-i 116 i 0'.:.;. .-:;.■ : -. :.—: .' f % ■] '-: ; Y -V •, THE MONET'MARKET. ■".' 1 > v L ;!''::' Last -week the London money*. market dereloped a hardening tendenoy.;. Both for three' iy;, /months' .rb'ills --arid .short '■ loans" higher . rates |<:';--" -.'.were.' demanded, and yet the Bank '■ of; En'g-' !:\. ';. '■'■' land figures; exhibited :an improvement..- ■ The \i '■' gold ihj'r.the Issue Department".increased''by! fe.;"-';.j81,368,000', the'.reserve .expanded by (.;'?.:. and the proportion of reserve' to liabilities' was p ';'more than two points higher than: in the pi-e----r:-'. : .vibus week.: The other.deposits exceeded.the %:'','■ other "securities by the substantial: sum of ?/i : . ■■ A year ago the market enjoyed an 'S',":. abundance of credits.and there'was a growing- ; V ; :.'ea'se in: rates. . The Bank secured a. considerable '■/i:?;. quantityVbf-; the- gold: imported , during- the ~:?:.:■: week, and enormously strengthened'.its posif .:'. tion from, internal sources.' In consequence ';::'/■- of these, favourable.conditions the, bank: rate' v?;-> was Reduced. 'It was anticipated that.tprece;:,.:ft', dent,would be adhered to, and' that the','reduc.,s'-:'" tifin. would be : from 5' to 41-'per-fpent.j-: but ihe y;;';.: position was so exceptionaUy&trori'g.<ith'at;-the i'rV- ■'.' directors- brought the rate' down at once to 4 ;; : Y : percent, In.the corresponding :!week of .1907 i.:,.;Vthe bank .rate was 5 per cent. The market -•;-;'■;.•.'■ paid, back,a considerable sum to ; the bank,' !■.', •■'■'. -.- and -loan rates -.were firm;. 5 per cent. ! being for, day-to-day'money... *.'f I '/).:'The.reason for the,recent advance in the J'":,: bank 'rate-.seems to.be the/accumulation- of. bytho. Bank ,of,: France.. •,,In -December, ';■ v.".' in', addition; to", political .'■• anxieties. ;th4reAwas E--':--: necessity for the accumulation, by .the fact f?:.', that Chinese bills to the,amount, of ..£4,000,000 [ fi -v■/ '"lt ell,'due on ■ New' Tearis'.Day,,.and there, was. j : :-i' -the further reason ;of..the:'R.ussian-. loan which',' r':' ;: .' has .-•■ just ■ been floated .in Paris. S".--i,j.Besides this there was the' usual:demand from f. ;: .:-Egypt,. and those in the.best position,,tp,iprm.! t ; :- .an-opinion, calculate that: Egypt /will -require. ';,'■■'about . Argentina is reported to |i --''Vhave !a .veryVlarge wheat,crop, and: .will also !:■:' -be'in, a position to take gold. From, these fc; :"facts,' there does not -appear to!-be any like-. [S:/'.lihood : of money easing in; London. " ,- te; v ;. :.-y ■■:'■. produce prices.:'. '\.},.;.\;. : J t-'?'. Comparing the' prices given' in the 'High p'-'-'v Commissioner's: cable, published, this morning, t.-v. '-'■ '■' with those furnished by'the,same authority ; fqr IB;' -the-: corresponding . week. of last, year, v we; get Pi' "/the 'following:— . . • ;, K-'ijw.;-, ,1909.- ~;■ 1908. i'V:' /North Island-mutton .. ... 3{d.;; 3}d. (:■;:. Australian'mutton- ...,-",...- 2Jd. ■ '• 2Jd. [:>,->,Eiver-Plate mutton ~..:: ;,...■ 3d.'••.,;.••• ■■.-. 3d. - f:':'-/Canterbury lamb' .;../...: .5d.: , ■ 6d. t'/./:/N;Z. beef fores. .■';■ ,i;.. : -'-.";..,- 3d.■- ; :,-. 2Jd. 'Z' : Z?.-N.Z.'beef hinds. ..;/■ ... 3gd. /:/,■'.-;- 31i f■■: / "Choicest • N.Z./ butter ' , ...'. 112s.«: y. : 119s. /'/! : : Australian butter ..:..., ... 108s. ';:.'; ~ll7s. j- ■/ Danish-butter „ .;..... .115s:'r „' : : „1255. ;>/ Siberian butter-' ...-/... ,1035.". ,' .•..,;.1125.- ';■,''■'. /Argentine .butter, ;.. ....; 1085.,, . / 117s. '/// - N:Z. cheese,, white ... . ... 60s.' 615.6 d- . N.Z. cheese, coloured 17 ... . 61s. f , 625. 6d: !// '"•■'• /G.F.G. 'hemp,: spot: -. . ...;■ £25 \ £2S y-r'i..;T?'.Q. hemp,-; spot ... ./.... £23{ -.;. . .£27 l'/'/;Kauri gum,:, ordinary --,-: ... 1655. >; 1655. i./:,.,.' Butter,' cheese, and hemp/are' lower in. value, '!■:■ ■'■'•.-■';-.and-. Canterbury .lamb .has. dropped a penny ••'•/■■::;':'per.--lb.',';as compared-with last year.. '; The Customs revenue collected aXWellington ;,:' -yesterday, amounted to. i' 3320. 4s. sd. , |v';-.;■ :; ; 'FKiibiNG maeket;repoet;■. :;•;/ Messrs. A. H. Atkinson and Co.,' Ltd., Te//'lvport:—We: held no sale, on' Friday., (Anniver- :/;/;' sa'ry Day)../ On Saturday /we■:held a sale o£ [.-■■: fruit,:of which a.large quantity came to hand. (.'/'"'Quotations:—'A' grade :peaches,, 4s. 3d. to .4s.' iv'/., 6d., and up to . 55.; B, ; . grade, 1 ; 3s. 6d. to 3s. 9dl ?,/./:.'per case; - cherries,' 3s. to. 4s: : per case; cherry : ',-"/ and 'Burbank:plum's, 2s. 9d.' to 3s/ per case. ljd.; per':lb.); apples, ■ 3 S-' 3d - P er ,!'-'..'/:'/.case.-';.-..'.,;"--. :; .., •.'•'■ '. : '-~'.-.■■'.'■■'. /"' : -'v. '--/ : '■ $\\. .'•• .;WELLINGTON-MARKET REPORT. f./--- „ Laery and Co., Ltd., -Wellington,, report h:" :j wholesale prices ruling on the market:—Wheat, 1/: ■~ fowlss.ld.,to-r'ss. 3d., broken, 4s. 6d.;t0,45;.: v 1 ■// Sd.; oats, : 2s. 3d. to 2s/ 6'd'.;"seed, bats,'2s','9d.'. to" l"- : 2s. 10d/; Algerian seed oats, 35.; maize,,ss. to f. .-■ ss.' '3d.; crushed malt, Bs. 9d.; fowl barley, 3s.' f'■■'••■"7d: t0.'35.',9d.; horse beans, 45., Bd.','all at per ■/: i--:bushel;-ricemeal, .£5.155.; flour, New Zealand, v '- / jeillos.;.,Australian'ilo 10s. to £l\; bran, i:': ; 10s.'to/'is', 15s. ;..pearl.barley, '10s.';:-peas,' [.'■:''-■ : partridge : '4s. 9d.,. Prussian blue 6s. :Gd., fowl FUV.-■ 'peas. 4s. 7d., :split bpnedustj £6; t !/ :•.-■' 6uperphosphatos,:: £5 to i5Ss,; guano,'i£4 r 'los".';:. :'■■/■' chaff (oatsheaf), £3 15s. to .£4 10s.; oatmeal, ;.;.-/.'•' >811 to iSlllOs.-;: new potatoes, 10s. to i£s |;;/, , 10s.; "onions,, Australian, 48 to. j£9; .molasses (/;,..: fodder, factory, sides 83 d., hams 9d., ;;. '■■ ■;:■■ rolls 9id.;-butter, bulk,-.8d./ Poultry, ; hens 35.. f//'/', to 3s. 6d.; ducks ss. to 6s.;.turkeys, gobblers' ;/: / Us. to. 125.,; hens 9s. ,to r los.- Cauliflowers, .45,; i-,.'/■'..to 65.; cabbages, Is.-to. 3s. sack; fresh eggs, !■:.:;.:.'-.'.- Is.--3d. to Is. id.' dozen; cheese,*"6d.ito'.'6id.':',per !■:; 1b".,: loaf "7d.;-per..lb.; Akaroa cocksfoot,; 10d.} V' //ryegrass, 4s. t0,55.. 6di-per-bushels ■■,;-

DUNEDIN WOOL SALES.

A BECOBD CATALOGUE. : ; (BY TELEGHAFH—r-BESSj ASSOCIATION;) . ; ; ",■•■:v^.;-'.IV ■'.■;' "-,-."' Dunedin)' Janiiary'2s, ■■ The second wool sale:o{-.the.''season' wasiheld -to-day, when'2o.36G bales were offered.' The total '•uantity offered in Dunedin so far amounts" to '29,116 bales, as conipared'-with 22,44<i'bale's-at the' corresponding stage of last season. Thp increase ;is set down largely to the'.dispbsitibn'of !: growers to offer their: clip : at local 'sales in--'stead of ;toLofldon.»-To-day's-cata-; ', logue' : was' a record for Dunedin, and the.at- : tendance of buyers was ; large and representative: of all' British, Continental, and-Amencan centres. ' There were also present: buyers from New Zealand mills, fellmongeries,: and speculators from alh parts of the Dominion. The general "uality of the clip was quite' equal ■of -last'.'year, and the ibiddrng/ was. animated • throughout.-A •theVsale.: : . was-the extreme pri'cesl'paid'forofossbred-hog;;, 'get wool of- long.:sound-fsHaple.' '.(The.; prices: ... realised were:—Merino, 'super,";;lOd: -to- l2Jd.-j- - medium to Vjd.; halfbred, supervVldi<p#o''.l2Sd'.*» : 'medium:. ■' to good, -Bd." to 10d; j Hnferiqr>:6id. to 7|d. j cross* :bred, super, 101 d. to 13id.;):'gb6d,'5 9d.',to 10id.t rnedium, GJd.'-' to ;81d.;;V'inferiori«5d.-:'...t6;--.BJ'd.-' : Taken all round, prices 'showed' an advance* bn : those realised last year. - ..V '■

HIGH COMMISSIONER'S; CABLE.

The Department of .Industries and-Commerce has received the following cable from the High Commissioner, dated London, January 23; 1909':—

The mutton market, is quiet. Stock; of' Now Bealand mutton is moderate, and there'is little demand. The following are the-current quotations:—Canterbury, '3id.; North Island,' 3Jd.; River Plate, 3d.; Australian, 2|d. per lb. . . The lamb market is weak. " Stocks of Australian lamb on hand are heavy, andare widely' distributed . amongst agents , who are " pushing sales.'"'-Supplies: from •KiveroPlate are '• increasing. l The following'are'Hhe ciirifent quotations:—This season's, other;tlian Canterbury, 53d.; last season's, Canterbury, sd.'; other than Canterbury, 4jd. .. . ' i There is a better demand for beef, but- no ehange in prices. \. Tho butter market is steady, with a fair busi""ness doing, and there, is Abetter demand. Choicest Now Zealand brands aro quoted at,ll2s. per owt.j Australian, 108s.; Danisn, 1155.; Siberian, 103s.;'Argentine, 108s. per cwt._ ! .y : Th.e cheese market, is firm,- with a. hardening tendency. White makes.arc quoted at 605., and Coloured, which is in small supply, at 61s. per owt. . ~ The foUowing are.the'current quotations for hemp:—Good fair grade, on spot, £25; fair grade, on spot, .£23.55.; fair current Manila, on Ruot, £24; January to March shipments, good ~. fair grade, ,£24 10s.; fair grade, JC22 10s.; fair current Manila, <£23 ss. The kauri-gum market 'is firm, with more inquiry.- Current quotations are Ordinary to fair' three-quarter scraped, 1655. ; fair lialf .'scraped;,"" 100s, j.-brown fair half-: . tec Bcraned. SOs.; brown, common

good, 555.; bush, fair, to good; pale and < amber scraped, 1455'.; stock held in.Lbpdon amounts to 558 toils.:. ... .■■-•'■■. * ;„.;■';■, .■'.■. The .wool market remains firmi,Prices have, slightly,'advanced:for.:' all grades, ofi merino. : The hop market is dull, and. unsettled, with a downward tendency, and large supplies are conung forward., Best English hops,are quoted at 705., and American' at 565. ■ : : ;'- "'/' LONDON WOOL SALES, ; .'. BUTEES'OPEEATB CONPIDMTLT. flirTECtGEttn—ruEss' ASSOCIATION-—COPIEIQHT.) m, J ~, '/ London, January, 25.' w cno ? u , antl M of wool catalogued,to date is 53,302 bales,. of' which 50,441 have, been sold. Allseohoßs are operating confidently. following price's,', were . realised for the t } F- 3 ln n s j me i : ~f w »™*.,,9d.; Tcnnkoe, 10Jd.; llfd. . . " PKIGES- OP CLIPS. , Messrs. and Co., Ltd., havo received a cable from London, advising that the following prices have been-, realised at the sales now ourro.nt f°r fhe fleece portions of the, clips named: F : ',?Ar^ W '^ U; -"' :Peiit,i M ! ston '.., • ... I 0 65d J. M.Menamen.-'Terawhiti .... ... g.GOd. ■&•■■ 5- M :> Morrison, UMasterton ..'. 9.40 d. A - "?. :Pilmer, i „Masterton.\ ,;. gssd. K. and P. Maunsell, Masterton" ... ... 8 90d W. Liverton,'Masterton-. ... >X 1 70d" H. Morrison, Masterton' ■ ... ■ 9£lod" Simpson Bros., Martbn, lOjd. and 'BW] Bryant 8r05.," Ohariu-' > ... ... g 65d J. Colgnhoun, Masterton ... ... ' ' gd' H. G. and J. E. Bryant, Ohariu •'■';." 8.30 d! it. Larsen, Masterton. .... ... - • 7503 S. H. Easmussen, Masterton" .;.■•■' ..' ■' 7d .J; .-T'oxton'''. .„: .... , ' 8 05d' : ..." Z 9A5&. ■0. C> Pleasants, Halcoinbe ••' .'.. •- 7 75d 'Owen Pleasants, Halcombe .... ..." g^Od! |- P- flpass Alfredton .... .-"... 8 .40 d. S; P-.Nelson, Alfredton ... .■ • ..;. ... .7 7od J. Millen, Jahantanui- ... > ... g ss d Bowlands, Masterton ... ''~;■' ... 9^' ROZEN MEAT TEADE. |BT TEtEGBAPEt—PBESS ABSOOrATION-^COPrBiOHT.) »•:'■- -,• ; --■ London,. January 24/ c The Frozen. Meat Trade Association's Smithheld Market quotations for the undermentioned classes of frozen meat' are based on actuaUsales .of,.not less,; than. one hundred c'arcasses^6t;,Snnt.ton.ior) lamb, or .twenty-five car-casses-;ofrteef?of«f4iV'hver'age quality, i These quotations are not for selected lines, but for parcels fairly representative of the bulk shipments ' now on the market:—.'.. , '~ ■ ' ' ' Jan!l7. '~.':Jan.;24.. Mutton; . . d;-. ■■• ■:'■• d Canterbury, light ..... 3}' .'313-16 Canterbury, medium ■■•-... 313-16' 3J : Canterbury, heavy- ■' ... 3$ ' '•■-. ■: 3\ f ...Dunedin and-jSopthlnnd- 311-16. '' 3£' North Island.'best brands 311-16 , g| North Island .... :...-. 3} 31 . Lamb. ../.■■'.•.•.'■''•' ./1 : Canterbury,'-lightV , ■•• r- '■•'-— ; Canterbury, medium '...—' ? .'■■■ Canterbury, heavy ... 4i,, ' . 4 Dunedin , and' Southland —' ■ — •uNorth. Is%nd •■ •• ..*; ... — v ' •— . •Beef:'"' ;-.'•-='.'.•.'.. ; , New Zealand fores ... B.' • ■'•'• 2}' New Zealand hinds : ... '3jf: . 33 ,-Eiver.-.Plate.'-J- ■■■ ;•"; . ;? •':.'■';", ; .^ -■• Muttqn'i'light;.';.. ... ')—. '" -!"_"!'.3J. ' ■'-,'■ Mutton, heavy ■„, ... — ■'. ' 215-16 Beef, fores;. ... ■ ~.—;-'',/' 213-16 ' Beef, hinds ;:..!.;, ... '—•■- ••'■■:■ 33.16 ; COLONIAL .AND OTHEE PRODUCE.; -Eabbits yery.. firm'. • Beat .Sydn'eys retailine ,a(r'l9s'. 6d.': ''v'-"'.".. v. '■'.'•/•. .. Hemp quiet. '„ January-March, 10s. "' .Copra active. Good demand for South Seafor the Continent, little' inquiry for. London and Liverpool. Quotations, :^eiß :lss. to .£lB 17s. 6d. for bags.',. ■ ■' '.;. : ', : ';:, METAL MAEEETS.' Antimony, i! 8 ids. ■;' , • '. '■ *' . Copper,*ion the spot, ..£59 15s. per.ton; three. months, £60 15s. , ; ; ;.'':, Tin.'—Spot,:il26 10s. per ton; three months, .£l2B 10s. . V Lead, ~£l3 2s. 6d. : per ton.

MINING NEWS. \

; '.'(Bi""TELE'GSi"PH—PEI3SS JaSSOCIATION;) :. , Dunedin, January 25. The following returns are reported :— Sandy Point, 250z. l&Avrty, Charlton Creek, looz.; 14dwt.; •. Molyneaux Hydraulic,/lOoz. 2dwt.- ' '/." ■

. :':i ; ' s^STqCK /EXCHANGE. . : -v (BY, TELEGBApkr-rRESS. ASSOCIATION.) ■.::/,;v.v/-ii: ; // ; ://:;i.Dunedin, January. 25. The.'*.fpllo,wirig;.;sales : were reported on :the 'Stock:,;Eicharige v -to-day,:—Bank' of New Zea''land;')'. Ms lis! iVrNatiohal/Insuranc'e, ,£1 Bs. , Stock;Exchange/quotations:.'.Dredging stocks Eureka,"seller ,4s:'- 3d.; Alexandra Leads'/sellers>J2s/"-."6d.'; ;Blackwat'er-r(contrib.),-sell'ers, 3s.'; 'Central.'Gharlton,,'sellers/75.; Electric; -buyers 3s!',''sellers ss'.'; Enterprise, .'sellers 45.; Golden Bed, -sellers 7s.,6d.;'Golden :Gate, buyers 7s. 6d!; Island Block, buyers Is.; Lady Koxburgh (contrib:), 7 '-sillers ss. 3d!;' Masterton; sellers £1 16s.;'Manuherikia, buyers 10s., sellers 125.; Holyneux -Hydraulic,- buyers Is. ,Bd.; "Alu,ddy;,.Creek,, buyers. '£%'; Mystery Flat, buyers. '.£llss. ,6d.,' seller's. £2 ; New/Eoxburgh Jubilee! sellers 6s. 6d.; No Town Creek, sellers 135., v Bise; and' Shine,, buyers £1 Bs., ■ sellers' £1 105.,; Eising Sun, .buyers 'JBI 95., sellers .£1 lis.; Stahley/Paracale,.sellers 45.. 6d. premium.Mining'/stocks—Welcome Quartz, . buyer 3s. prem.'r'Talisman -Consolidated, sellers £2 7s. 3d.; "vYaihi.N!,Grand ;Junction,.,-buyer £1 4s. I 3d., ; seUers,.£l;ss, investment stocks—National -Bank,:/'buyers £5' 25.:;, Bank. of New Zealand, 'b'uyers'SS 10s.;' NationalTnsuran2e, buyers £1 7s. 9d.;! Union I Steam Company, sellers £1 165.; Westport i Coal Company, sellers '£6 125.; New Zealand Coal and Oil, buyers Is.;. Perpetual .Trustees Company, ; sellers 18s. 6d.; New Zealand Portland. Cement, buyers £1 95., sellers ;£195.9d./-;; ;. ,n':;,;.■:-