COMMERCIAL ITEMS.

Dominion, Volume 3, Issue 670, 22 November 1909, Page 10

COMMERCIAL ITEMS.

i '■ INVESTMENT SHARES;..': , J ;y;- ■' • *A sale of Manning; and. Compa'nv • BrewoVir shares at: £3 13a. ,6tf. was the. ■ recorded ion Saturday. National Bank,'buyers. £6; Enuitahlo Buildins, buyers,£s. 2 6 . 5d '/Nat 1 t'onal Mortgacc, buyers £2 18s. , 6d., sellers £3-' Wellington Investment, buyers Us... sellefcs .ll B ' ; 6d.; Wellington .-■ Trust, and. , Loa=,-. -buyers £1: sellers £7 2s. 6d.; Fellding Gd s ,.b ß yers £1 1 8 . 3d ■! Napier Gas,-.£s ; paid, sellers \£lZ' 75.: 6d.; merston .Jiorth' Gas, -senere .£8i v \Vellinßton Gas 'i £6 158. paid,: sellers £14 ss.'; Standard Insurance ■ buyers £1 --Za. ■> 3d.: -.Gear .Meat; ,£4 .paid- bayers'l £10. 53 ,■£!■ -mid,- _ buyers,' £2', 12s. ,Sd.;' Meat ; Export, third ;.- issue,: : ; buyers •• £2-15 a M-. ..-sellers .- •£2 17s. li.; . Kew Zealand Shipping,, bnyers £7; Unioiv Steam, Bellero £113s. ■ ,6d.; -Wellington /.Woollen £3 3?..; Jlknrangi Coal, buyers'-£l; Taupiri Coai,.:'6ellors' 19s. 6d. ; . Westport Coal, sellersW'tej W-esteort-' 1 Stocktori Coal.-buyers'6B. 6d.; selW 75.; Manning and C 0.,. buyers.£3-12s. 6d.j' Now Zealand.| Drug,, buyers £2'6s.;'New Zealand Paper. Mills £1 35.; RJiarland's preference, buyers' 20n! 6d.; Wellington Opera House, sellers' £7 17s. 6d. ,; : ■ ;. THE.MONEY ..MABKET. , -'-.-.■'--■.■■-'■ :! ' The London monoy market shows a distinctly easier tendenoy, r and it /is obvious that tho 5 per ceni. discount--rate' has . pro Ted ■ effective. Ine inward movement of gold which commenced a, fortnight ago becamo very pronounced laEt'i week when the metal in the Issue Department' was augmented. to ■ tho extent of £2410,000; thorcservo of noteo.>and coin, in the ■Bankinir Department .:■ increased :by ' £2,620,000,: and the ■ pro-' portion of reserve to liabilities stands at the vory safo level of 64.45 porcent. : If the influx of gold continues the Court:of Directors of,the Bank of England will for. a certainty.'reduca the ■rate'_byt at_least 105..-per-cent.v-.on,.Thursday. Tho Bank of England stands in a peculiar, position, and is. distinct' from ,all;. other banking institutions- in the world. ■ It- is' expected 'to Jeep the gold- reserve for the whole economic body, English and foreign, whence any one who has ,a cheque: on Kngland can help himself "at a moments notico, and it is only.in exceptional circnmatanccs is the bank able to regulate tho supply of. credit which is ■ based on its reserve ' /\l ls -n vel 7 ■•PWbable, - that'ithc--repent decision of the Bank of France to discount foreign bills has been a factor in bringing about -tho .posi-. ' lo lif, I f ; - J ? >otore3ting: to .recall: the fact: that' ■in 1907, during the Amerinan crisis the Bank of -France for the ; first .time! , discounted =. suoh foreign.-. bills and thereby ro'.oased three millions;in gold, which wore promptly sent.to the England.. At the-, titno of this operation ;it was stated ■ that tho: French.: institution had lent the monoy totho.BanU of-EnEland, but it -was nothins like that. . The whole arrangement was made outsido tho Bank of F.ne--land,; which approved of but by no means asked -for it.-: _,The Bank.;of. Franco made an excellent and profitable investment in sterline billfe helped ;to mitigate a storm .which threatoned the French;monotary community- withunpleasant consenuonce3. . And at,tho same timo it was poso very gracefully as fairv codmothor.to,tho world at ,!arge. and; superfloia'l observers:, cried, out-:thaf, there must bo lio'ihothing . in\ its management•• that. enabled it to nlay. this, pretty,: part;., If- the. Bank'of .;.Ene. J? . J. 1 !?. 3 - .tte/nsht.: to meet. its liabilities in five-shilling; pieces half ..a • crown's worth of, silver;, it.;miftht perform 'with .lequal brilliance; but. then the whole of-the "very profttablo exchange, and banking buniness which is based on the immediate convertibi'.itv into gold, of tho draft of London, would be an impossibility;■-..- '"| .' .. ~ •/,-,/. .-.- -. .:.-. t ;. .;vy->: "T-

■■{■ : - -. amerioan: y^w'e'-ps-wbot/'-v-'Jv'.-'i-Tle -s s;< tt a ' lfUrg ° ing firm.on;the~ present outlook for wool ard .expressed in the following: , private letter ito a Mancjiester . correspondent :—"lt is quite 'evident.that ■you .are somewhat of a bear on tho market. We are also, as far as buying is concerned, but in many corners of the globo (ana wo_ reach; most corners where wool is. to ,be ; pcot) wool is itoo high... .Unfortunately .they , -aro 'able to.maintain thoir; position. ". For instance, in Bussia they hardly . m akb\ any .'offers.- atVaU, >and -what, theydoaro 15 to 20'por cent, hj&hor than at \no commencement of::this./season- and 50per cent, higher than lpst year. Wo never knew bo little, wool available for export from-Eucsla as thiavyear has shown. . China wools also aro not yew plentiful; and are very dear, wools, nnd all kinds of skin wools from tho Continent, which to exportj-..vory,largoly, :>aro«eet- ; ling so sparee that it is hardly possible to nick Up, a decent lot vou say, East India wools are plentifnl;>?and-';they-'aro about the cheapest thing a low wool,, but .--.our. Impression-Us' thaV.the;;riext pales will.bring to an end thoflargo/supplies. After that quantUiea.will Australian . woou aro'MJscreaeing.ivanaV'aleb Capo wools, ■ but.they-don'tfdo:. lie 'any Bpod.v 'Capo wools.-. vro cannot import 1 profitably on,,account of the duty,-and/.Australian wools won't v tako of low qualities. of carbot:wools.. So that whilst wo- can- believe that Australian and .■similar wools 'havo^reached,as ■ high■ a-.prico as ('/ not. Wghor thnn); they ;should," and? possibly if:, the -demand slackens-wo v; may 'see -'lower prices, yptit^looks.to ; us.that in what-wo call . carpet wools', there 13- going' to'be.no'slump ; .unless. ■ wo.wero to'."havo:,,wliat :we scarcely ■ ex--pect—namely, 'a-"panic' br.Eonte- similar cessabright. .;Our mills nro. all.doing well, and ol crnurso . that means, ;an v :ononnqus '.ionsuinption Wβ fled';some of 'our carpet, mills arc .very' muon worried ,-as ';to ;v!iero. theyj are ' eoi'ni; ; -.to get certain -classes: of Wool which .are-nbt'in'W groat a -.supply at preßont." .■ i ;■ :-. :. ■

■ ■ :-j'\ PALMEESTON; MARKET ,'EEPOKT. : \ 7\ - ■ -Mr. , Harry' Palmer, of. Palmerston, 'reports as 'followsir-Thcro was.,a,', particularly.: heavy entry ;of pigs .poultry- at: our" sale 'last' week. : Buyers were both -numorousiand.keen.Vand consequently, prices showed;mo signs' of declining,, and wore -Quite i on ya par wfth previous quotations. In fact, two ,or-three .pens'-.or-eood ■wcaner" Termed mrticularly high prices/ coine »?-to; 17s. Sα. -' AH 'classes of • pigs .-were ropreSoiited, uud tae o.ualuv all-round was splendid, with/poultry good. Cockerels andturkoys wero ccarce, .out. ducks- came in. more freely, and Eolil;-weil. •. • We had an ■ exceptional entry of hens with broods,'and ducklings and.chicks, no fewer than 30 brooder being sold at prices ranging -frsm.ss.' to.lOs. --Tile , demand for any class of-poultry is still' pood, and prices remain firm' For. produce, there is. only a fair demand,- but there is keen- demand for cabbage and cauliflowers, whioh :are scarce. Locally-grown , new potatoes are now coming in,'so'that prices will shortly becomo' easier. Asparagus, rhubarb and gooseberries,find eager buyers. Wo quote-— ■Weaners, 83., 83. 9d., 10s. ,9d., Us., 12a. 6d.. 13s 155., 17a.. to-17s; 9d.; sllpsi'lss. to 18s.: stores 17s 0d.,. 195.. £1,;£1 15.,. ML- 2s.;Vlight porkers, •■■if , 1β.,-£1.25., to £1 4s,;.,heavy sorts, £1 55.,£ l 65., .£1.75..3d., £1 78..9 d..» £1 Bs.,'to £1 10s.; hens 45.,• 4s. 6di,-fi5.,,6d:;'75.;; ; t0.70.'6d.j ducks and bie ducklings,-55.,. ss. 6d.,. 65., to. 73!; whistlers and half-grown,. 2s/,- 25.-6d.,-,.35.,:t0 -45.; cockerels,- 4s. to 65.; geese, Js. 3d..,t0. 3a.- 6d.; turkey- hens' .63. v 9d.,' to .-7a., 6d.;'.: gobblers, <,Bs. to 125.; chicks and half-grown,-Is- to- 3s. cd.;*'new potatoes 13d.' to 2d.; asparagus,. Bs. per dozen; rhubarb 6s. -to ,75.; ■ gooseberries, 3s. ■ per case; ouionn. Id. to l|d.; ham and bacon, 6d. to 7d.'j" potatoes 75.6 d. -to Bs..6di;-po!lard, 10s.-'6d.;bran, 83. 6d. ; wheat, 165.; barley, 95.; chaff, 2s. to 3s. 6d • ■pigmcal, 83. 6d. to 10s.; oats,i 10s. to. 12s. \ I-; ;> - : j'EILDIIfG. : : MARKET REPORT. .■■'.;) j Messrs. A. H.. Atkinson and C 0.,. Ltd., report on Friday's.-sale, aa follows:—There was ■ a heavy entry of pigs, every pen being Oiled; 120 wore Bold under the hammer, at values showing, if anything,, a slight decline on those latoly riuingy All tho-poultry pens, were filled, and 230 birds sold, the extreme prices of the last few;-weeks, and prospective town requirements being responsible for a bigger entry than has been -the case for- months past.■■' A quantity of produce, general sundries, 'vehicles, furniture, farm implements, etc.,' was'disposed, of, and trade generally may be reported as being much brisker. . Quotations:—Pigs: Suckers,' 6s. 6d. to Bs.y 9d;,- weaners,.9a.-, , ■ Us., 11s. od., lls. 9d., 125,, 13a., 13s. 6d.,. to : 14s; alips; and small Btores, 15s. to 16s. 6d.; light porkors, 18s. 3d., 205., 20s' 6d., 225., 235. 6d., to 245. 6dj heavier,' Zss., 27s': to 295. Poultry, at each: Hens, Is. 4d., Is.' 6d. Is. 7d., Is. 10d., Is. lid., 25., 2s. Id., 2s. 3d., 2s 5d,, to 2s. 6d (average, 2r. Id.); roosters,'ls. 10d, 25., 2s. 'Id.. 2s. 2d., 2s. 3d.; to Zs. 7d.; cookdrels Is 3d., Is. 4d., to Is. 7d.; duckß, 25., 2s. 4d., 2s. 5d./ to 2s. 6d.; turkeys, 9s.;'geese, 2s. 6d/ Produce: Pollard, Bs.; bran, <s. Jd.; peas, 7s. 3d.':' ryegrass, 55.; barley, 10s.; wheat, 165.; potatoes (in small'supply), 69. 6d. to 7s.;'seed, ss.' 3d., to ss. 6(1.; pig, 2s. 9di. to 3s. [factory bacon, 7Jd.; hams, od. per lbl ■ . - ■. ... ... '~•._ ,-..■■- ■• ' ■ : -.' ■'■■'.'•''■'' '•'■'■• — ~~ —' : . " ,: ■ '' ' ' '■' Customs revenue collected at Wellington-'on Saturday "amounted to .€1235 3s. 10d. Tho total, for'the' week wan. £15,058 4s. 10d., 'beer duty amounting to .£263 14s. Cd. Primage for the week wa3 £417.C5. 7d. ..-.■•'* I.'. •',-:, COLOtfIAIrAND OTHEE PEODUOE./; ; : \- (By" Telegraph—Press A.ESocliHtou-Oopyrigbt.l ■"'.. '.: (Bee. November 21, 5.5 p.m.) ''.':', .. '■■ ■■■ .•'.■ 1 London, November 20.Wheat.—A' cargo of Australian sold at 41s. llid.. and-7500 nnarters at 38s. per quarter.. OheesePriio- consignment arrived in excellent condition, and sold>at 565./ per cwt.; Canadian, 575.: . ■ .-.■;;'. ■ ■ ' '■•• ■ -, Uabblts.-Colonial, firm and unchanged; English supplies, firm, but cheap. .:• Ilomp ia llrm. October-December shipment, £2/ Us. per ton. ..■.■'■"■ •-■■- ' ! •■■■-■. Copra.—The - market is strong, owisg; to' tho difficulty of-, arranging freights. South Sea, in bags, £22 10s.- ■ , • ' - . .' - Cotton.—Tho -Liverpool 'quotation for. Novem-ber-December shipment is 7.55 d. - ■Linseed, oil, £32. .....'-, -..- ;■' ■ • ■:■ . METAL: lfAnKETs!v : i[ .'■'.- -. : " : '-''■.■-■•■•, ,'V '. ':'•■■'. -, London ,■ November 20.. ' CopneK-on spot,'£6o -lZs.- 6d.;' threo months, £61 :15a.; olcctrolytie, ; £62 15a.' per: ton. :.; •'.Tin.—Thero .ip.aa excellent outlook .through. , but the : wots§| for consumption for- several .months, whlßr.the reserved stocks of . Btraite

,1m are,down to the minimum. On spot, £141 •155.; ithree months, ,£143 ;17e. • 6d. per ton. ' Lead, ~£l3 Jg. 9d.. per ton. '; '■.....-.' - , : ' i TAB ANAKI OIL AND -FREEHOLD CO.- •., IB? TelecrOßli.— Press Association.! ' '•■ ,„, :■'.•■' New Plymouth, November 20.' ■ .The annual report of the .Taranaki Oil and Freehold' Company states that the bore is , now down 1469 feet, and the excellent show of oil: obtained, justifies tho oipectation that payable .results arc near at hand.' Funds, however, are exhausted, and it is necessary to' consider whether additional money should bo subscribed, or-reconstruction faced. The company has 3000 umesued- and forfeited shares, and land and plant costing nearly £6000, against which 'tUcro are, liabilities amounting to about £650.. ' ■' ;■ LONDON, MARKETS. Messrs. Dalgety and' Company, Limited, report having received rthe -following cable message from their London house, under date of Novcmbor 18:—Frozen meat: Mutton—Anv change, in prices is in favour of buyers. Lamb, Jd. to gd. lower. Beef—Unchanged. Tallow—Unchanged. Wool—Dates of our, own sales are: November 24, November 29, and December' 2. .: • • . : WOOL, HIDE, AND TALLOW SALES. : - , Messrs.' Dalgoty and Company, Ltd., report having held their fortnightly, sale of wool, skins, and hides, etc., on Friday, when they offered a large catalogue of all classes to a good attendance of .buyers. Prices, were as follow:—Wool: Onlv odd lots offering; crossbred, 6Jd. to BJd.; dead, 7d.' to 7id.; locks, 21d; to 23d.; pieces, 5d.; crutchings (inferior), 3jd. Sheepskins: In good demand. Prices, par to . }d. in, sellers' fav.ouri as follow -,—Mcdnlm crossbred, B}d.; fine crossbred. 73d. to Bd.; medium and coarse crossbred; 61d. to" 75d.;, crossbred, broken, 43d. to 53d.; crossbred, dead, 5Jd.. to. 6d.; crossbred, shorts, 6d.; black, 4Jd.; pelts, 3d. to 5d.; merino (inferior), 4Jd.; lambs, 53d.; crossbred, damp, ss. 6d. to 7s. 4d.; inferior, 4s. 6d.;. pelts, damp, Is. Bd.; lambs, damp (inferior), lid. Hides met with keep, competition, and prices showed about Id.-advance. Ox, heavy, 63d- to 7Jd.; medium and light, 6!d. to 63d.s cut, s]d.: cow, 53d.'■ to 63d.; cut and slippy. 3Jd. to 5Jd.; bulls, '35d.; yearling, 6Jd.; cut, 6d.: ; calf,.best, 9Jd. : to 10} d.;. medium, 7Jd. to Bid.; inferior, 31d. to 6Jd.; cowtails, Is. BJd. ' Tallow, in casks, 245.; in. tins, 22a.; rough, fat, 155.~9d.';- ' . \ .~, ■;.-■/ :. . CITY PEOPEETY 'SALES. '. : ,'. Messrs. J. H. Bothune and Company have had numerous in n ulries with regard to the Levin estate: property in Tinakori and Grant-Roads recently submitted by them at auction, and report the following further sales:—Section' No. 2, havtng frontages of 40ieet.;.cach to ; GTant Koad and Burnell Avenuo byia depth of 141 ft. 9in., £800; Section.'No. 14, having a frontage of; 44 feet to Tinakori Eoad, by. a. depth of 85ft. 9in., £743. '" ■• .- ■ - ' ,'' ■ ' "•-'