COMMERCIAL ITEMS.

Dominion, Volume 3, Issue 646, 25 October 1909, Page 10

COMMERCIAL ITEMS.

■• .-''.'•;; ' 'INVESTMENT BHAEES.' J-Al \'J [ . .Sales of Bank of New Zealand at £9 15s'., arid Lcyland-O'Bricn Timber at £1 35.. were reported on Saturday. National Bank, buyers £5 18s., sellers £6; Bank of Now Zealand, sellors £9. 155.; National Mortgage,'-buyers £2 17s. 6d., sellers £3; Wellington Investment,. buyers lis. 3d., Bellers lis. 6d.: Wellington Trust and-Loan, buyers £6 19s. 6d., sellers £7 2a. 6d.; Napier Gas,. £5 paid, sellers £12 10s.; I Wellington Gas;. £6 10s. paid, sellers £14 55.; Ohristchurch Meat, buyers £10.125. 6d.; Gear.Meat,'' £4'.paid,'. buvors. £10 sa„ £1 paid, buyers £2 125.; Wellington Meat Export, third issue, buyers £2'.145:..6d.; Now Zealand Shipping, buyers £6 17s.V'6d.;;.Wellington Woollen, buyers £3,'ls. 6d.;' Hiknrangi Opal, buyers 18s. 9d„ sellers 205.; Tanpiri Coal, sellers 19s. 3d.; Westport Coal, sei!ers.-,£6,.55.; LeylandO'Brien Timber, buyers 225. 9d,,' Bcllcrs 3oa. 3d.; Miramar, 1 ordinary..-sellers 12s. -6d,;' New Zealand Consolidated,-Dental,"nellcrs,i24s:-6d.: Sharland's ordinary, sellers 205.-',:?d.i' preference, buyers 20a. 6d.;-Ward and £4 lis.; Wellington Opera House, '.sellers £7 17b. 6d.; Bycroft,. Ltd., sellers 175.:,.•-..;••;'■ : ' , ' DEAE MONEX.;."' For tho third week in succession,'the Bank of England discount.ratb has -.been, raised, and it-is now 5 per cent'.,. This is'a'high rate compared with what, has been ruling.for the past eighteen , months.-f. Six or eight, .weelis ago there was an abundance .of loanable credit in London, and was expected'rates would, harden, a 5 ! per .'cent, rato was'«never, anticipated. . The Bank-of England has.'.becn losing gold for some. wdeltß past, :tho loss .last week amounting to close on a million sterling., Com- , pared witha'year ago, there is Jess'; metal, in the'issue department .by £3,4f0,000,' wSUo the proportion of reserve to' liabiMtieo Is over 4 points lower. There is a .big'reduction .in-, the other deposits, amounting to" about £6.000,000,; which • Is significant. If la' difficult', to locate the centre of disturbance,: but'it'.is.moat probably New York, where ■ tho. monetary cbnditionß. were taking a bad turn "early irf 'August. : There was a severe slump Street, :and the death of Mr; Harriman,.-the railway manipulator, has no doubt helred ;to nccentuato-.thc -trouble. Wo had a 5 per cent.-bank- rate last vear.from January, 16 to.23,"while,in, 1907 a, 5 per-cent, 'rate ctrtno' into forco'-on- January, 17,j."and;.was maintained ■ until :Apri!-. 11, a > pCnod of,;E4 ; ,days. For eight, daya-'.in ,1906, 'we;had; a-; 6, -per cent, rate,' and the nest occasion, was 'im January,: 1901/ when it was -maintained:.fori3s nays. • It is not a formidable Tate,. still.v.it must cause o check: to i business. "':'; ~: ...-,- ,' ■ ..' ..!■;'■' ..;-,. CAPITAL : .IIIMIGBATION. -.' "' ; Ari- interesting .'point'itouchini?'-.the influx of capital, into Canada, ;Svith the i stream of immi r , gration is raiscd.in.a lato,issub..o£;tho "Monetary Timesi">Torbnto,ifrom".'which, we .quotcthe following:~"Dnrii:g' the twclvo , months'- •--erlacS. March, 1908,. tho number of • iinmigrtints to. Canada.'from'tho United States' wao .58,312. ,Froin. April'to'Ootbbcr of ! th'o same year the figures' were about 30,000. Mkv- .Bruce, Walker, _ tho OommiSßionor of 'Immigration .at Winnipeg, stated not long aso that 'settlers from across. the- border will bring into '.Canada', tais.:yoar, now capital to the extent of £14,000,000.; It.must, happen that 'a. larga toim-will come to ,us; from that'dir'cotibn..' Already, this year.-tho 'influx,; according: to the'authorities,! has/.been','almost record: br'oaking; In -on instance,' a- prospoctivo: Canadian scttlor'-.broußht'.with,.-.him -£5000,' on. exceptionally heavy pile; 'In most cases the amount naturally wasmuch.smaller,; United; Statau cat-; tie and Uve-stock-havo-alßo been chanfeinft our pra'irlb'■ con'ous figures.. One ostimato or tho value of those other possessions is £70 . ''Taking the figures for.- the twelve months of--1908-namely, 58,312-and crediting each now citizen from: the States with £UO-ra fair allbwanco-rthere us a sum of £5,80p,0T0.; Sottiers'. effects - at. £70 per. head would, giyo an am'puqt;" approrimatdy,-- of,':£4.000,000,- or r altogethefta, total~'ofi£9;Btt).CCo.- -Fifty fore 'seems to'-'he a.'iust ostimato. The predieted figures'for nro obtained ::possiblrAy allowing. 'for. a"'; lateo increaso in immigration:. Those statistics illustrate . how many millions, of,' dollars.- are com,ing to us with thousands: of;gOo'd'men. . '■' ,? Ab to British immigration„:ncithcr tho cash assets nor"tho -effects,;,aro.;as;;largo,perhaps-as .thoso of .-Unit<:d"Btates.: immigrants.-. 'The mero, with life-long savings;,-leaving .tho States, to'now. Canadian lands,, contnbutovlargely ; to, Canada's' revenue., -Our money fronv Britain, comes chiefly through other channels, of miilions. ,f -Wc have converted the dollars into sterling, -taking five .dollars to tho Pound;_ . '' HOlii'.AND:i6ltEIGN|w66L-MAlikETB...,.': chief point ofjntcrest-is tho very,.sulh-stautial-increase which';has,.taken place m.tbo wool industry of Gormany..' A.reiaysp.certainty, followed tho crisis of. 1907-u, ,but a rapid,rccoye:.v followed inl9o9.,'.Th'o':'itaportsol wool into;tier-. man for tho last.live years aro given below:- . ,9(|S , ~ 12i),MH-J. Kilos; 1«S ' " """ 126,«6,Wj0 : kilos. .i«» .'.,.U!J.i)IM,tWI kilOß.. ■ i*i-'-''"- '•""'"■'. : .';'.'..;....:.''lui.aU.uil)' Uiibß: ■ , •-."■ .Jsu9 ''"•"•' '" ;.,..'.:....:. 132',182,iAiU knon. ,; The imports "for 1909 equal. in '.round flgurca 1 about- 2/5,0t,0,C0Mb., the equivalent of .close, upon 1 tiL-0 U.O • bales, of Australian: wool., These .ilgurea uisc oso:.wnat .an Important-.buyer Uorlnany.us for ran'wool. Tho conioiucd; texcilo iiwußines of Germany now.' gives employment .'tcr : , very, ciosoon 2,uCO,i,M people. :•.;•': '„ ' " -By cU ■: accounts tue wool trade in Gcrmanyvatn tno exception of the clotning, brancn-has been and-is StiU.- very -actively employed. . in Yorkshire the inoustry is aotiyo,- and just now; representatives, aro noun nuyers-.m the AuaSan'marKCt. 1 : '»tocHs..of. morino.vfool,. in tnc raw - state, -arc- at a -very Mow ebb..-. ' ■-■';''';i-'V ; ',' : ,' : '- ' 'NOTES. ,;',' . Tho banks in Sydney - arid. Melbourne have : advanced weir oxcnaiiso raws ou, London, r Tho Turkish Government, 'by. placing an'-ordcr for l,stin,t'liO'yarus oi-,i;naki:-wltli u West Kiauig firm in August, contributed m up small ucgreu to the improvement'..in .the; yaluo or siipes ana coarso 'wools.- The ■"ISconomist ot Auuust a, commenting on this.': order,.-" remarks:r'*aiiy.; have already,' inquired, what; eliect tnio khalu order is'goiug to have upon the wool, market, for it'is bouudto benefit lower crossbred wools,wnicti aro largely used for-the making of this particular class of fibre. : It is Said that tno breaking strength ' of tho Turkish khaki order is high —tno best proof possible that short, shabby, extract wools will not suffice to make tho; cloth. Alroady thero has been a slight quickening, in strong carding English skin, haslock and wools of that description. There have also been some good sales of strong New Zealand slipes, as well as Uoutn American..'lt is further reported that orders have also been igiven out for rugs and blankets of a coarse character, all of which moans'many mills boing busy and a large con ; sumption of the, rawi material." ; ■■' 'A Bill' hon been introduced into tho Britißh Parliament' authorising local authorities in Ireland to .levy and expend out of: tho rates a sum of. not Ibbs than twopenccin the pound for the purpose . of: advertising • any. watering-place or health resort within.their areas., John.Bull may well atk'.why this. Act should be confined.to what Mr. Bernard Shaw calls "his other island." The Japanese Government proposes to grant ■shipping subsidies during .the. next five years to tho amount of"£4,000,000:. Tho Australian, line gets £50,CC0 per. annum for'five "years, beginning SnISOO.-.,;;. The Customs revenue-collected at. the port for the week ended Saturday amounted to £15,526 10s. Id., and the beer - duty,', to £294 10s. . The .Customs revenue for Saturday was £1208 Is.: 2d..; :■:'PIGS,'POIJLTBY,, AND PEODUCE.; : .:; Mr. Harry Palmer (Polmcrston North) reports full entries,- both of.piys and, poultry.,', There was an-exceptionally, big entry of weaners of splendid,.quality.',- These ;all''sold ntjjgood firm prices, tho demand being exceptionally keen, due in a.great measure to outside buyers.. Prices for all kiridß of poultry continue high, with,a demand: that shows no signs . of ,'diminution. Gocso and barndoor fowls, in good condition, showed increases, as also newly-hatched duct lings. We quote 10s„-lis., 125., 13s, 3d., ! 14s.' 3d.: slips, 16s. ,3d., 18*. 9d., 19s.' 6d'.i; atorea. £1, £1 Is., £1 'to. 6d.; lirht porkers,,£l 45., £1 5b., £1 65.: heavy, £1 7b., 6d... £1 10a. 6d.': breeding sows, £2 75., £4 12b. 6d. The' total sold wa3 112. Hen and brood ohiekons, 10c, 9a., 6d., 13a. -34.,. 145.; ducklings; just hatched, 2a. '3d., Si. 6d.; half-erown,'3s. to. 45.; good ducks, ss. '6d„ 53.'..9 d., 6b.!'. turkeys, 10a, 3d. each; geese, 3s. ■ 9d. to 4s. each; cockrels, sa. to 6s. U nair;-hens, <s. 6d., ,4s. 9d.,: 55.,: ss. Cd.,. 6)., 6s 9d a pair; . eßlckens,-from-la.. 6d. to 3s. .< There is a fair demand novr for: all lines of produce, moro porticulorly 'good, tablo.potatoes, cabbaqe, cauli- " flowers, asparagus, and rhubarb. We had c i- firstilins of now potatoes, and although ths eamiiln offered was small they realised 2!d. nei lb; ; ' Wo ouoto.—New potatoci,, 2jd. per lb.; prinu table. Bs. to lln.;. : rhubarb,-:4s. to. 6s. a dozer : bundles; asparagus, 7s. a dozen bundles; cab ' bagc,' 3s; to- 45.; cauliflowers. '&.'< to„'fs., a dozer i Heads;: carrots; ,2s.' 6d..sack;, mangolds, Is. tc •' lc'6d.; Swedes..ls. to 13. 6d.; table.lines,,2s. 6d; pig'potatoea, 2s. to, 2a;'9d.; .onions,'table one picklors, Id. per lb.;, wild rabbits. Is., a, pair 1 barley,-9a. to 10b.;: pollard. -Ms. 6d.; bran, ,9s. ' wheat. 16a.;; chaff, 3a. to 3s. 6d.;bats„- 10s.-'. t< 12s. Business for tho week shows a decided Jm ». provement,';■..■-.>;•' -,- ''.-;,.-'■,>'■,".•''-■:•:',•■'•■'.'..-' --C'

V " ,-FEILDING MARKET; " ~.. L. Messrs.'A. H. Atkinßon.and Co., Ltd.,. report:Wo had n. full yardingof pigs on Friday, every pen being filled. ,-■■-A~number of halt-grown pigs pf indifferent", euality'werc forward.".', but :jn wcanors some'ehoico lines woro offered, and sold at,, valuos in- advance •of ■■' prices : ruling last iwoek. ; Horses met a dragging salo, except for good stamp of milk carters. In 'poultry, Uttlo of Rood quality-wan offering, a.nuraborof-pens arriving late'for the sale:. Jn produce, .there was little.'altofatiori in, values, .potatoes bo„h seed and tab'.o sold, however, ■ rather more freely. We quote :-Horses, to £5 15s. Fiff: ! Woancrs, 95.,.95.6 d., 10s., Its. 3d.,'105. .94., lis. 6d., 12s. 6d.. 135., 13s. Sd., to. 15s.;'slips,' 165..'3d/;U> 17s. 6d.; stores, 205. : to 235. ,6d.; porkers, 255.-, 265., 27b. 6d., to 285.',3 d.; Poultry, at .each: Hens, Is. 3d. to'ls. 6d.': cockerels and "roosters. • Is: 6d;, lr.. 10d., to ,2s.- Id. 'Producer Pollard; 9?. sack; bran, 5b.; oats, 95.: ryegrass, 4a. 6d. bushel; PlSmeal, 65.: potatoes,*table 7s. to 10s. 6d.,..5ced.55. ■to 10s. 6d.. pip 25.; onions. Id. per. lb.; bacon, factory* sides ,7id., hauis Cd. per lb.' .'■•.'■.;,.-■.. : ■';. COLONIAL AND OTHER; PRODIJCE. \ ..... (Dy.. Telegraph-Press ' Associ.a'tiop-CoDyright.) '■"'■■ (Rec. October 24, 5.5 p.m.) '.';..,'. . ."London! October 53.-.' : Wheat.—The market is; easier. January-Feb-ruary shipments ■ arc quoted at 375. ■' 9d., . and holders arc firm at, the reduction.- ,-•'■".'-■ ;■■■ Butter.—Choicest Now Zealand; butter,, ex Connthio, realised 118s. to'.'l2os. ' ...*•." •■' . Linseed oil, £32.105. -■'■■■':■■ *„.,." ' Cotton. is. ouoted.. at, Liverpool at 7s. Hid,' for shipment. .-' ■ \, .',' Hemp is quiet and' unchanged. . ;. Copra is in good demand; South Sea, in bulk, £20 12a. 6d.. -', . ... '. . ...:' .. ■ .'."'"''■: p THE METAL MARKETS:, -,' ■''.'" ■; '. (Eee. October 24, 6.5 p.m.) '...';-■• ,'■•■- ' '''" ■ ■'■■' ■ London, October, 23. - Oopper.-Spot, £56" IBs. 9d,; three months', £68 23. 6d., : per ton. . . ' > Tin.-Spot, £138 2s. 6d.; three months, £139 176. 6d. par. ton, ' Leat!, £13;25. 6d. per ton. . BARLEY AND, OATS, V.,' '! London, October.22. A small business is doing in barley.. On passage, a pareclof Australian at. the Cape has been sold at 31s. per;quarter.,- V :■•■.'' ' . Oats are easier, owing to heavy arrivals. Gartons, 20s. to 225.; sparrowbills, 19s. 6d. to 21s. La Plata is unchanged. DECLINE AT'BRISBANE WOOL SALES. (By Telegraph.—Press Association.—Copyright.)' (Eee. October 24,<5.5.p.m.) i ?:"..-,-.■ .".' Brisbane, October 23. At the wool sales greasy merino were 5 to 10 por cent., greasy crossbred 5 per ce=t., and scoureds 5 per cent, lower. The heavy catalogue and limited competition by the Americans were tho chief reasons of the decline.- ■'•'.'_ ■"* ' LONDON MAEKETS. '•" - .:'';'. Messrs. -Dalgotv. and Company, Ltd.,. Wellington,.'havb received the following■ cable'messages from their, London office, dated October :21 :- Frozen meat:-Tliero is an improved.demand for bcefK'-'.'Hinds' are id. higher,'and fo»es id. to Id., but there is a good supply . of.- ghilled, on hand.. Frozen mutton and .lamb: Holders areasking higher prices,,but;there,,is. not. any consumptive demand, even at less than .last quotations;,- It-is probable.thai holders -will ,havo to'give way,'and the market .may have a sudden decline.' Tallow': .Misdescriptions, except-titre-sorts, arc unchanged. .These .are .occasion: ally fid. per cwt. higher.