COMMERCIAL ITEMS.

Dominion, Volume 2, Issue 616, 20 September 1909, Page 10

COMMERCIAL ITEMS.

: .:'; . INVESTMENT vSMRES. . ■'.;, ' }'/■ v No business was' recorded on .Saturday, .and' there were about tho usual number of Quotations. In view of the smallness of the Exchange will, in, future,.'have onlyvone* call' a day for investment shares, and this' will be af the midday meeting. National Bank, shares were in firm demand .at £5.'19s. f , and it is understood that the firmness is due to buying on London account. National Mortgage, eellore £3, Wellington Investment, •sellers lls.. id.; Wellington- Trust and Loan, sellers £7 is. 6d.j Napier Gas, £5 paid, buyers £11 15s;, sellers £12 10s.; Palmerston North Gas. iseUcrs : £7 153.; Sonth• British Insurance,-'buyere £2 12b.,-sellers £2 145.; Christohurch Meat, buyers £10 lls.; New Zoalaud Shipping, buyers £7; Union Steam, sellers £1 13s. 6d.; Wellington, Woollen, buyers £3; Hikurangi Coal, buyers 18s. 6d.;-. Tauniri Coal.' buydrs 19s. 9d.; Westport-Stockton, sellers 6s. 9d.; Loyland-O'Brien Timber'," sellers ■ 225.; Sharland'e, ordinary, sellers 20s. 6d.; preferonce, sellers 215.; TaranaUi Petroleum, buycra 6a., sellers', Sβ. 6d.; iliramar, Ltd., sellers 13s.

'..■ LONDON, ..:; : ,;; The wool sales commence , in London to-mor-' row,, and.it is now fairly certain that values will advance all round. What the advance will amount '.'to, aW'wh'etheF ; it'''(rill be" maintained throughout" the sales, are, moro or : less' diHcult questions to answer. At Antwerp last' week; there , wasi»n, aH-r,Qund.adyanco of. 7J to 10 per cent, tlio.-1832.,1>a1es Sllerod,riess/'than half sold. .which .would seem, to, imply, that tho rise tended , '{A/check bu'siness.-'.' The' Antwerp is a. very email is useful . as Indicating, the tone of the market generally, the 1 business, done'signiAos nothing. 'The rise waa.'/in.-La.l'Pla^aiwop.ll'that is, .mostly, crossbred, and consequently.'We','.may, look tor an advance'"in this , 'grtfdc 'dfv (wool lat ''the ealee to-inorrow." - Messrs. , ..Dalgety and Co., Ltd., in their cabled forecast, place. the riso at 5 to .10 per oent.. for :merjnos,'and -s..lo'r~oiosabreds, while they eipect coarse crosebreds . to maintain, their 'position.- ahdS.-lpos'sibly , '!advance' 5 per cent.,. '.It will ,bo astonishing- if, fine wools move any higher.- . At.the July sales,' warriinKß wero given'thal.flno...wools ,were'dangerously high, and buyers,certainly eased down a.little. Coarse crossbred .wool is still, 'Wry,, aheap; it • is relatively: much cheaper' than Bno ndol, and !t,he margin -of. dinercnce,: : .vbeti?e,en;j.the ... two grades. iH too wide to be , maintained. ' Orosshreds must advance," and, in; , all probability, their gain will bo much greater than Dalgety and Co.' estimate. ; •■ ..''i'-.-.;-,. ■; 'A/wool authority, writing on August 6, says that, on the Continent of Europe, there ie an .increasing demand for the Oner qualities of tops, both Australian, and .'Biyer-'Plato-merinos being in" decidedly. greateij roque'sf-since the July sales. ■ Naturally,. in these circumstances, the. tendency is. for prices to harden, , and much the same is'the case as' regards tops produced from the ' finer qualities of crossbred. With medium and coarse crossbred descriptions'if ~is, otherwise. -.In. the .north; of,-Franco large 1 quantities,", both' of wool 'and tops of theso gradcß, exist in the hands-of the middleman, and it is alleged, that theso can now bo purl.chosed in large quantity, Bomewhere about 10 per cent, below the rates which were current in the month of May. • ■/ '■•>■'■ : . JAPANESE WOOLLEN INDUSTBY. , '';': ,: :Ever since'about 1887 Japan has been"endeavouring to. establish tho woollen industry, but it is, only, recently that special attention ;has been given to tho business. The Tokio Seiju -Kabushiki Kaisha (Tokio Woollen Manufacturing Co., Ltd.), of Oji-machi, Tokio, with a branch factory at Oji-machi, is the largest and perhaps: the oldest woollen. and worsted manufactory in Japan. /The company, which has a paid-up ana floating capital of 2,250,000 yen, was. established in -1887, and employs at present'6oo molo and 1038 female operatives.- It is 'using' , four steam' enginee in th 6 two factories of 770 brake horee-power, did two dynamos with 105 kilowatts. . The company has been supplying most, .of- their, woollen cloth", .to ,'the Japanese army and'navy, etc. It , makes only woreted .yarns for , Berges and worsteds, but bo far the result has not been at all satisfactory, espeoially in the-quality of the yarns. Thie has led the, directors to engage for a term of two years an expert from England as technical instructor. The.expert ie Mr. Joseph Aidgart Hallam, who recently arrived at Tokio, and is now daily attending thß company's factory at. Oji-machi, adrieixig upon' technical points in the manufacture of tops and worsted yarns in the worsted spinning department. Mr. .Hallam is.reported to have had great experience in worsted spinning in ■ England, and to have 6erved for a good, many years in connection with the manufacture of worsted yarns, tops, etc., , in-a leading worsted mill in England. It is, therefore, anticipated the Tokio Woollen Manufacturing Co., Ltd.,, will show in the near future a remarkable improvement in;the quality of its tops and fino worsted yarns,.etc. Japan has been a buyer of Australian wool for somo time, and since tho establishment of top manufacturing in-New South Wales, Japan has been ( a frco. purohasor of tops. . ..:■-." Customs revenue collected at Wellington on Saturday amounted to £777 15s. • ".-' • MAEKET ■ HEPOETS. [.'■"■ . slr. Harry Palmer reports that, , ' considering I the ■ wefltner, tbcre wiis n very fttir entry of pigs, principally weaners, at his last week's Bale at Palmerston, but only four lines of porkers were offered. Generally epeaking, wcaners wore easier/although one or two lines of particularly good quality , realised big prices. There was still, an unsatisfied demand for poultry, all pens being:filled, and pricee highor than over. Nothing sold under 4s. per pair; the avcrago price running to ss. per pair. ' Ducks and turkeys wore also in good demand. Quotations i-Wcariers, , :10s., 10s. 6d., lie. 6d.. 125., 135., Ms., 14s. 6d., 15s. to 15s. 3d.;' slips, 155., 16n. to -18s.';' light porkers, £1 45.,.,£ l 65.-6 d., and £1 2s. ■ 6d.;, heavy do., from 30s. to 355.; turkey gobblers. 10s.; turkey hens, Bs.; ducks, ss. 9d., 6s. to 6s. 6d.; cockerels, 55., ss. 3d., ss. 6d. to 65.; hens, 45., in. 6d.. 55.. ss. 3d., ss. 9d., 65.. 6S. 6d.'. to 7s. 6d.; purebred cockerels, from Zs. 6d. to 7s. 6d. each; potatoes, 65., 7s. to Bs. per sack; pig potatoes, 2s;'6(l. to 35.; mangolds, 25.; swedes, 2s.j carrots, 2s. to. 2s. 6d.; chaff, 2s. 6d.; bran, "10s. 6d.; barley, 9s. to 125.; wheat.'lss. to 18s.; onions, Id. per lb.; hams, factory, Bd.; farmers' do., 6d.; bacon, factory, 7(1. to Bd.: farmers' do..' 6d.; apples ss. to 7s. 6d. case, Sturmcrs and Washington's Cottage, 2s. Gd. to 3s. per : Eaok. Messrs. A. H. Atkinson and Co., Ltd., of Feilding. .report a heavy yarding . of. pigs at last week's Biilc, some 150 being sold at prices showing a reduction on values rulinE of late, tho top price for weaners being 12s. Poultry, in Bhort supply, maintained lato rates. Produco of all descriptions meets a Romewhat dragging snlo, potatoes, both 6eed and table of.prime ouallty, selling slowly. Quotations:—Horses-Afted coldinu, £5 155.; milk , carter,' £8 10s.; three-year flly, £4 17i. 6d.; Buddie pony, Pi 155.; mnro and foal, £5 10s.; two-year hack, £6. Pigs—Weanors, 10s., 10s. Cd., Uμ. 3d., and up to 12s, i slips unci etoicfl. 13Bi 3dt, Us., tOvlfis*! wTnftil porkers,

20a., 215.," to'23j: 6d.'; medium" weights,- to- 275. 6d.; sows, in pip, to £3. • Poultry-Honß, ls.'lld., 25., 2s. Id., to 2s. 3d., average price 2s. Id.; roosters and'cockerels. Iβ. 4d., Is. 10d., 2s. Id.. 2s. 3d., 2s. 4d., 25.'6 d.; Leghorn pullets, 2s. 6d- and 2s. 7d.; hens, Zs. 9d. to 2s. lid.; roosters, 2s. 7d. to 25.. 9d.—all at' each. Produce—Seed potatoes. 6s. to 8s; cwt.; 'table, 7s. to 10s. 6d. per sack;, pig 'dp., 2s. to 25.-3d.; Garton seed oats, 12s. per sack; ryegrass seed, 4s. 6(1.-per bushel; wheat, 16s. 9d. per sack; feed oa'ta, Bs. 6d.; plgmeal, 6s. 6d.-, bran. 55..9 d.; onions. Id.; cauliflowers, 2s. 9d. to 3s. 3d.'; cabbages, \2s.' per smflll bnii; carrots.2s. 6d.; factory bacon,.sides 7id.; hams, ,80. WOOIi,; HIDE AND SALE, Messrs. Dalgety and Co:, Ltd.. rcport:-At our Palmorston' North wool, ekin and hide salo, held on Friday, wo offered a good catalogue, comprising 27 lots bales, dumps, and hags wool,, about 1630 sheepskins, 1050 hides and calfskins, and the usual quantity of sundries. All lots were eagerly sought latter, prices showing an advance all round on last salo's rates. Following is a list, of prices realised «d. to 5d.; log-staiucd and inferior crutchings. 4d. to 4id.; dead wool, 5Jd. ;to 63d. each; crossbred, rough, 51d. to 61d.;: locks and pieces, 3d. to 3id.; black wool, 5d.; lambs, to 6»d. Shcepslrins-Crossbred. fine to Bd, - ; medium 7id. to 73d., coarse bid.. 63d.. to 7d.; lambs, 6ld: to 71d.; crossbred, damaged 41d. to 53d., dead, 5Jd. to-6d.; dead hoggets,. to 53d.; pelts, to 33d.; half-wool crossbreds, sd. to 6Jd.; butchers'' crossbreds, at per piece: Light skins, 4s/-.4dv 4s. Bd., 4s. lid. to ss. 2d.; medium, ss; 6d.. ss. 9d., to 6s. 3d.; heavy skins, 6s. Bd., 6s; 10d., 7s. 4d.. to 7s. 7d.; dead skins, 4s. 3d:, ss. Bd.. to 6s. 4d- Hides-No heavy ox offering; medium, to 6|d.; light, 53d. to-7!d.; steers* 5Jd. to 6Sd.; cows, best lines s|d. to sJd.;'medium, old. to 5Jd.; wet.and slippy, 5d.; cows, cut, to 51d.;. slippy l , to 41d.; bulls, to 4Jd.; yearlings,' 6d. to 6Jd.j yearlings, cut and slippy,4d. to 4)d.'; noree hides. 55.-to 7sJ each. Calfskins-Best lines,'B3d.to BJd.; meaty, 7d. to 73d.; cut, to 7d.; slippy, to sd. Sundries-Tallow, in tins, to 21s. 9d.; casks, ; to 235.; tails, Is. 4d. per dozen; horsehair, to Is. OJd; per lb. V ■ BANK OP ENGLAND EETUEN. (By Telegraph.—Press Association.—Oopyricht.). 'London September 16. The Bank of England return issuod for tho week ending,.Wednesday, September 15, is as. under:— \ •■-.'' ' - " -IJBBI DEPAETHENT. ' . Note'lesn* ... i57.278.CC0 Gov.securitieaf 11,015,000 :/'■■ Other securi- ' ■: . ■ ■ , ' ties _. 7.4 M.OOO .; ■' , . ■. .'.., Gold . .... ss.aw.ooo ..'.'■ •"•;''.H!M(K»'..■:■■■'■■..• ,-*H.MB.COO,; ; ' BIKDNO DEPABTICST. Proprietors . Govt. 6ecuri- ■: cipital ■■ fU.553,000'' ties' ■ .... £15.320,000 .Fnblicde- . • . Othor'secnriposits ...: 8,310,000. ties .... 58.856.000 Other de-'- - ■■•-.. posits ...'.■17,162,000 Kotes;■', ... 28.557,000 V :. • and other- Coin ». 1,181,000 . bUls •"•■•...•■■; 3,7U,C00 .". .', : , . , JE73.H68,000 ' : f73.eSS.OCO ■ The leading items of the Bank of England return afford tho following comparison:— . ■•.-■■,■ . This weok. List wcok. List 7«»r •'■-•■■£■ £ £ BoUion ... ■j.'.3B,ffiG>.ooo ~58.8i.3,C00 a-,7W,CJO Eecetvo ' :.. 59.741.0C0 29,«6,C00 • 48,010,000 Kotecirculation .' SO.OJI.COJ 29.530.UX) 58.1H1.000 PiibUo Deposits' 8.210.003 "' 8,05r.,W) 6,i5.0Xl ". Other Dopoalts'; ,17.1W,00J 47,816,000 15.2«,000 -: I'ropoitioa 01. ■ ■ . liabilities... 63.36 6163. . 51.23 '.':'.;'. GO7EENMENT SEOUEITIES. " Tho following are the latest quotations for Government securities, with a comparison ' of those ruling last week:— ,■'.,'!■• "■ •.■ : . '■ '■ Variations' ■■■'•.' . compared -■■:■-■■ Price . wltn .. ...■■■. last week. ■i- ,-, .-.- ' .. .. ■•■■ £ 8.a." 21% Imporia.l Consols... ... 83 12..15' ss.lower 1',;N.5.W.1933Jan.-July .". 103 0 0 Unobangod ii IN.S.W;I9IBJIar-Seyt ...' 03 17 6 : 28.65. lower U. S.S'.W.W3S , Api:-Oct.'' ... eii IP 0 Unchansed i Vic. lisaJaii.-July... " ... loi 0 0; Uncliangca 34 Vic.lKl-6Jau.-July .;. (13 0 0 Cnchanned i Vlo. IZ'tM'J Jaa;-Juiy ... 16 10 0 ;Uuchanged 09 0 U -.Unchanised 3 ".B.A.' 1916Jin.July :' '... MJO.O '. Unchaneed 4 QTdWlo-MJan.-July _. ICI •5 ■ 0 ss.nlshor Si "Q'l'dlMMOJan.-July ..„ '.57.10 0 ' .Unchansod i i QTaiS24-«J»n.-July • ... ■: Sβ 10" 0 ' Unchaneod; i i ,H.Z. l£'23M»y-Nov. ■ ... 107 W,.0 , V, 10b. higher, Si ~N.!S.IOIUJMi.-July . .••.....,03.15 '.Of -y^hielier ,ai' N.2.'lWSApill-pc.t.,'v .... 1 b6 10 '.!>:}, iUnoianeod bi "v/.A.10i0-lOlfay-ivov ' ... 9D 0 'o'' '• Unchanged 3, , W.iLlinsis.«tty-Nov .v. ;'BJ 6 0"; Ss.hieher Hi ' T»s.lWOJan-July .... 100.0 : 0; . Dnchanged 8 .'l'ta.lWMUJan.-July ' ... WOO ■Unchansed - THE MONEY MAEKET. ' ' .. ' The-Bank of' England discount rate i<, Si per cent., to whlcu it. .was reduced in April. ; / ' 'i'no open market oiscoiiiit rate for best three months' bills is unchanged at'li per cent, ihe Paris rate is unchanged at lg per cent., and tho Berlin rate'is unogauged at H per cent. ■ Short'loanß'in London are unchanged at 3 of 1 per cent. .. ; ' . : fCOLONIALAND OTHEE PEODUOE. markets' are less depressed, partly owing' to the unfavourable woather, which Jβ delaying supplies of Ilome-gfowii. wheat, and partly to tho reduced crop estimates. American aud Hussian cargees,are firm,.'but qtuet. Australian" afloat is offering at 415." 6d. per quarter; now crop, 38s. 6d. to'4os.;'Off coast, 41s. 6d..Tho spot market is quiet, at 435. 3d. to 445. per quarter, ' , ' Flour is dull with prices unchanged. ... ■ Oats.-Market. quiet. La Plata January-Febru-ary shipment,. 14s. 3d. < liutter.—The market for best butter is very firm. Danish is quoted at 121s. to 1245. per owt. Seconda'ry sorts areveasy, owing to the plentiful supplies stored, especially of Siberian. Unvcrifled .rumours are current that.-some .of the season's contracts for New Zealand factories have been'placed at 'about- 107s'.'.cXf; .There'. Is no nows as to any Australian' contracts. ■ The oplnioS is freely eipresseil-'iii.'.the'Hra'do- that early, arrivals of choicest now Australian-;will fetch high prlece-poßsibly ; l2os.y but , the courso of the market after October will be largely dependent on the quantity of Australian supplies. ' :'.■!■.■•. ' ' "■■' •<■'■.. . Cheese is dull.' Now Zealand, 575. to' 68s. per OWt. '■■.■.'•':'■•:■•'".:■ ,' i' '. •' ... Sugar.—German beet, 88 per cent is Id. lower, at Us. 9d. por cwt.; and first marks granulated Id. lower, at 13s. Bd. per cwt., f.0.b.. Hamburg. Sheepskins.—At' the sheepekins sales 6000 bales wero offered. There waa a attendance, and animated competition,'practically all being sold. All classes of combings advanced, from 3d. to Id. per lb., and clothings from 3d. to 3d. Bradford Tops.—The market is firm and confident, common 60's 273 d. per lb.; supor, 28Jd., •''■' ■ . THE METAL MARKETS. .:' : .' Copper.—Spot, 12s. 6d.. lower, at ££$ 7s. 6d.; three months', ss. lower, at JES9 12s. 6d.; electrolytic, £59 15s. per ton. Tin.-Spot, lfs. 6d, higher, at -£137' 25..6 d.; three months'.-10s. higher, at £138 2s. 6d. per ton. ...■-.-■ .-', ■ ' . Pig-iron, ljd. higher,' at 51s. 3d. per ton.