COMMERCIAL ITEMS.

Dominion, Volume 3, Issue 648, 27 October 1909, Page 10

COMMERCIAL ITEMS.

( INVESTMENT SHAKES.'" '~' Sales of Wellington'. Deposit at Bs. 6d.;-'and Leyland-O'Brien Timber.at £1.35., wens'-recorded yesterday. National Bank, buyers £5 19s'.;'sellers £6; National Mortgage, , , buyers £2 178. 6d., sellers £3; Wellington Trust and Loan, ■ buyers £6 19s. 3d., sellers £7 25.; Wellington Deposit, sellers Ba. 6d.; Napier Gas, £5 paid, buyci-B £12 2s. 6d., ■ sellers £12' 10s.; Palmerston North Gas, Eellcrs £7 153.; Wellington .Gas,. £6 10b. paid, sellers £14 65.; South British, sellers £2 Us; 6d.; Wollington Woollen, buyers £3 2a. 6d.; Hikurangi Coal, buyers 18s; 9d., sellers •£l;"Westp'ort- Coal, sellers £6 '53.; Westport-Stockt.on'Obal, sellers ,75.>6d.; Leyland-O'Brien .Timber,'buyers £1 2s. 9d., sellers £1 3s. 3d.; N.Z. Consolidated Dental, sellers £1 4s. tfd.; Sharland's .preference, ; -buyers. '20s. 6d.; Tarariaki Petroleum, buyers. Bs.; By'croft's, Ltd.,. sellers 17s. 6d. : ....'■, '■: ; . ."■ THE MONEY, ;MARKET. .' The tightness of the money market was anticipated in London towards the middlo of September. "The Times," of September 17,' Stated that ;thero was at that date plenty; of money available for short loans; but discount rates were'hardening. It was pointed out'.that tho.German, cus>,tom of paying mortgage'interest, on October 1 ■had forced the market rate of discount to 3 -.per cent.,- and the rato 'for loans into October '.up to 5 per cent. The Vienna and; Paris; ex- ; changes had moved'against London, so the expectation was that with expanding trade a tightening of the money market would follow. Ship'ments of gold to Egypt had begun, but tho.position of the Bank of England was such in Scp'tomber that it was then felt : that £5,000,000 of ■'gold could be. provided-,for that country .with-. "put rcducihg tho'-reserve. too:, low. With refer-/ '.enco to.America it was .stated :-~"Tho uncertainty, of the American, position sccnis. to .contain!.th<v ikey .to;';,tho; -monetary-/histdry:'pf tho jlater ' autumn.: Tho surplus reserves of the Now York 'banks havo already fallen to a point which fdoes not leave much/margin for "contingencies, and the internal demand for currency may be on a considerable scale. In.the meantime Wall Street abates /.nothing of -its'ioptimisin, which , seems >to grow continually, iriore. confident. Tho coincidence. of crop movement, ,trado; expansion, and an active '.stock market with continuously advancing prices can hardly fail to cause stringency, unless New York widens its metallic basis of credit by* imports of gold. Nevertheless, opinion' on this. side is divided concerning the likelihood of its. taking';gold from London, and the balance-of well-informed opinion is perhan9 rather against it. It is fairly clear that if it does take gold it will have to borrow the right "to draw; it, and-it "is'certainly financing itself here freely. In tho meantime,'llr.Taft-is doing his bestto further.tho cause of -.'currency. , .reform, and it'appears • that, Mr." Aldrich's commission will urge tho formation of a central bank."

■ .;-. , ; AUSTRALASIAN. GOLD .OUTPUT. . ' . ~ The iold yield of Australasia for the first inino months 'of this year amounted to 2,541,628 fine ounces, as ' against 2,665,343 fine, ounces for tho corresponding period of 1908.-AU the States'of tho Commonwealth and Now Zealand ■ havo declared smaller yields.. The figures compare.as. -under:- • -^ ~ . ■ '■" . • ■ oz. I'"-' , " os. ; ,- ■ . oz: Yiotoria :'... . 524,602 - 504,951 > «0,8H: New South Wales ..; 182,473 , . 167,864: 160,924 Queensland :. 341,873 338,053 ' 327.0Z9 West Australia ...... 1,247,156 : , 1,235,370. .1,196,724 Soutlr.Australia ],.:.:.: J. 824, , ; 6,257: , 2,700 Tasmania ....;:....;;«.. ■ 49,600. '.;;.': 49,500 V. 45,000 ' ■ "■■■'. — 2,354,428 2,301,995 2,193,191 New Zealand ......... . 359,418 : 363,348, . ,348,437 .! . . ;:' " Xm,m 2,665,343 2';541,628 The figures for /South Australia and Tasmania The Transvaal gold yield for tho' eiffht months. fino ounces, valued at £20,421.566, for the correspondine period of last year. ■ . I . . . LIVE STOCK IN THE AEGENTIHE. ■■; The "Board ■■ of Trade Journal" Btates ■[■ that H.II. Minister at' Buenos Ayres reports . that, according to a livestock .census: which has recently been published, thero were'in tho Areen. ttm"at the end of 1903 .29,116,625.head of cattle, 67 211754 sheep," 7,531,376 .horses,' 3,945,086 goats, and 403.591 pigs. ' One-third ; of cattle,' onektie^e-^. ir 0 a r t l S or f S> a nl^l^ 7 £ b lOTSthii native-bred cattle in the provinco of Buenos Ayres numbered 50 per cent, of the total, in I°CB they numbered only 8 per cent. The insince'lß9s is estimated at some £54,500,000. . ' CUSTOMS'BETENIIE. ..' ; Customs revenue coUectedat^elUngton.: yestcrday amonnted to £2855 Is. **•..• . . . ■-, ■ WHEAT AND HiOUE. (By Tcleßraph-Pross lasociatlon-Oopyrlßni.l v : ' London, October 23. Thi> total nuantity of wheat and flour afloat for the Ilnffl Ktagdom is 1,680000 Quarters-, «nH inr the Continent 2.U0.000. Atlantic shipnfents P JOOOCO quarters; Pacific, 120,000. The total shiDiaents*o Europe during the week amounted to ISoOO quarters. There were-no shipments from -the Argentine. ~ ■. - ■ . . , IIETAL MABKETS.', "" '■ .. ■■' - . ffiec. October 26,. 9.10 p.m.) :. , . . London, October. 26. Ooppcr.-On tho spot, «e'Mj;i three'months. £57 Us 3d.; electrolytic, £58 15s. |rho market is dull,.owinc to the monetary stringenoy. A denial is given of rumours previously current of tKn nistenco of an agreement among, leading P roduSrs of the United SUtcs' to restrict the "TXol months. £, Bar 1 8ilver r is t quotea'at 231 d.per ounce standard. ■ , -•■■■- -• . •■■'■■•

,-:" D.1.0. ANNUAL.MEETING. "." •-,• ~'.■■'(By, TdegrapU—Press;"Association.) .; . '. '' ■' Dunedln, October. 26. The annual meeting of the D.1.0. was , held TUo directors' - report states ."that,the not profits for the year amounted to £18.876. On Hay 1 an interim dividend i for the half-year on preference shares, at the rato of 6 nor cent,, was raid, and it was now proposed to pay a further half-yearly dividend of 4 per cent, on preference entires (absorbing XJ76O), a dividend of 6 porccnt-'on ordinary share.i (amountinE to £6561), and to carry forward £5015. ■ The chairman said the first talance-shcot twenty-four years ago, showed the pnid-un capital to be £27,276' to-day it was £231.085. nnd reBTves and amount, carrion forward to profit and loss account £21,000. Now Zealand hod received a ruminder to go.rather slowly, afad on safer lines. On the other hand, it was (reassuring to nota that the ' world's . markot'was In favour of our staple -products, and an easier money market In New Zealind,<-.Th,ero%ere oil

the signs of renewed prosperity for New Zealand looming up visibly on. the commercial banion.i '. ' ■■■■■■'■ ■' The report , and balance-sheet were adopted. .'. Messrs. Wr'Fcls land P. L.'Hallenstein wero Tβelected directors, and Mr. Ker was re-elected auditor. ' . ■■••'- •■'• '•" •' '"'' HIDE; AND SKIN .SALE. ■- ■ ■ ■ , (By , Telegraph—Press .Association.) ■- '' ' Stratford, October 26. ' At the monthly skin sales' held at Stratford today, record prices- for calfiikins for the Dominion were obtained, viz., Is.,per !b. . Tho market for everything was'animated, hides advancing id. to 3d., wool and sheepskins, Jd. to id.,, and tal •low 15s. per cwt.. ' . : . ■ .' ' .