COMMERCIAL ITEMS.

Dominion, Volume 3, Issue 676, 29 November 1909, Page 10

COMMERCIAL ITEMS.

- . .INVESTMENT SHARES/ .' ' Sales' of Equitablo Buildins at ; .£9 6s.',' Gear Moat,£4 'paid,. at' £10 10s„ and Ward'and Co., browery } shares at £4 12s. wore recorded on Saturday.-. National Banli, buyers ■£$• Is.: Rational Morteaee, sellers £3, Fcildinc Qas, buyers £l : -ls.;-Napier-Gas,''sellers'' £12 '75.: 6d.; Palmernton North' Gas, sellers £8: Wollinjiton; Gari, £j 15s. paid.'sellers £14; National Insurance, sellers £1.83. 6d.j Standard. Insurance, buyers £1 2s. 6d.;, ChrlstcHurcli. Meat, buyors- £10 lEs.:. Meat Export. tfiiW-;ttsuc,.'buyers-£2 15s..6d.;'sellers ,£2 175.; New Zealand Shlpninß. buyers £7 / lCs.:: Wellington Woollen, buyers. £3 2s. ,6d„ sellers £3 55.; .Wcptport-Stockton .Coal, buyers,-65.. 6d.,' .sellers "7s.'i Manninq and Co.. buyers £3 13e: fid,; Now Zealand Consolidated Dental, sellers £1 4s. Cd.j New Zealand Drug, buyers '£2 fia.t Sbar* .Unfl's preleronce, -buyers£l' oa.. 61; :Taranakl

Petroleum,.'sellers Os.; Ward - and Co., .buyefs £4 11b., fldlerß £4 15a ; "Wellington Opera Houee, "sellers £7-: 17s. fid. •; •••'-v'/,..-" ' : l : . : THE .MONEY MARKET. '. . - ' Contrary, to expectations, the bank rate'was ' not rcduced on Thursday last, from which we 1 may. assume that the Court of Directors was not satisfied that a chango was dosirable. 'While, the actual bank figures no doubt warranted a reduction in tho rate, the situation as o. whole, had to be taken into account. America and Germany have been speculating extensively, -and both countries have largely financed their operations in London by discounting bills.- Besides this fact, there has been the demand for cold from i'gypt, South America, and other-'coun-tries, which have pe'ewed credits on, London by. loan .and otherwise. Added to all this, is the internal demand which becomes pronounced ae regards Scotland in November, and the prosipcctive holiday . demnnd.. which becomcs very strong just prior to Christmas. Above all, there j b • the * political disturbance, which-will probably result in a' i;en®rnl tlection and raupc disturbance The rate will probably remain unchanged until the turn of the year.-. Apart from contingencies that .Cannot be foreseen now money should be comparatively cheap, in the I flr3t quarter of the New Year. | . THE WOOL MARKET. I The London wool sales ?re proceeding rather i favourably.. At all events, owners of crossI bred wools have no causc for The I Americans appear to bo operating freely, but it is unfortunate that business should ;bo .at astandstill in the Commonwealth to the; coal strike. The striking feature of the wool trade in recent years hase been the extraordinary influence exercised by Amcrica; . that influence, it is pleasing to note, has'been favourable to producers.- Yet. American purchasers have been comparatively ?malL At the five Lon--don sales already held this year, out* of a total of 777,000 bales. sold, America secured 68.CC0 bale?.' or just about 9 per cent. The distri-. 'batidn of the 777,CP0 tale 3 was as und^r:—^ . • ■. - 1 Home. Continent; America. .'»• . Bales. -Bales.. Bales. First sale 92,000.- 88,000 12,000 Second sale 96.CC0 69,000 13iC00 -.Third sale 88,000 61,000 i • 23.G00 ■, • Fourth sale 75.000 • 52,000 . 9.0C0' : Fifth cale ...... 56,000 ; 32,C00 , 6,C00 : - v .. . 407,000 ..,302,000 ;,y. 68,000, , Wool-traders and wool-growers in- Australasia have, perhaps, lit-1.0 confidence in the possibility of amending: the American-tariff on wool and woollen goods. But the carded woollen manufacturers, who led the attack in the Houseand Senate, ha'ce by no means' abandoned the battle. The Opposition press is helping , them to the full, and sir. Taft is being followed 1 round the conntry by.insistent cnestioners. Hiffword3 at Winona-r"I agreo f the wool schedule is too high, and that it-ought to . havo been reduced"—might seem lo'oncourage, the hopes of the makers'of c?rdcd woollens. ' They were sue"ceedcd by a confession of impotence.- It'was found that tho wool-growerß of the Far West and the worsted .manuiacturers had sufficient'in- i fiuonce to defcaV any attempt to chanpo <tne wool tariff; The President expressed his porsonal regrets, at the same time reminding the,'insurgent woollen manufacturers and clothiers that they had on every > previous revision . been thor-. ouglily in-favour of the arrangement they, now condemn. Until the balance'of\ p.ovfcr changesor until tho-sc two or three years of trial for which' Mr. Taft begs have elapsed,, amendment must be highly .improbable. Before long the ,'interest of tho contending- powers may centre' in the appointment-.of an advisory expert upon the new Tariff Commission. v , i DEPRECIATION.' ; The proper allowance to make'for 'depreciation' is a matter -which there is 'no. sort; of agreement among 1 tnimway engineers. The'"deprecjution allowances '.of t the Glasgow Corporation tramways, an k very liberal, especially it is remembered that: tho Corporation of .neces- • sity has -to eel-rtaido a . further sum lor the . ' sinlung fund. In addition, tho corporation has a' special reserve, fund, now standing at-£70.631 The* allowances for depreciation, and ? renewals for the year 1909-9 were—£soo per .mile of einglo .track, equal to about 9 -por cent., for the .permanent way;. 4.28/ per cent. .on ; tho electrical equipment of the lines; 6.91= per cent, on power station and eub«?tatioii plant; 7.5 per cent.' on cars .and 1 their olectrical equipment, workshop tools' and' sundry, plant, and on -office furniture and miscellaneous equipment;-and, 11.24 on rolling stock other than-the pasßengor cars. 7 -It' should be remarked-that , these allowances-.are far in excess of thuso adopted by host other tramway systems.'-

Customs revenue collected-.-at Wellington 'on' Saturday amounted to -£92Z: 65..'10 d. -The-total for the week'was' £10,021 4s. 6di, which included tie following items:. Ecer dnty, £417 la.; primage, .£67 4s; 2d.; surtax £154 155..'2 d. .. • FEILDING MARKET REPORT. '• Messrs. A.'-Hl' Alliinson. and.. Co., >Ltd., of Feild-'. ,inß, report an easier market for'pigs, of which a fair number were forward at-. their la3t sale. Poultry wero in toga'supply,.'And. met' &.g'ood : market. A couple"; of : hundred birds' : ra'at!i;' ■ for hens an average-'prico;'bf Is.':'lod.': oaehi ■ and for roasters a::d cockerels :2s.' 2d. lA'-'iuantity of new # potatoes ■ were 'on tho market, and'some choice lots sold up to lid. ppr lb. Quotations-.— Pigs-Wcaners, 10b.,' 10s. 6d„ 10a; 9d. ; to.-lis.; slips,l2s. 6d., 12b. 9d,,145. 6d.,' io''il63l;6d.; stores, 17s. 9a.-to 21s. 6dv; pbrkors, 245:,'; 255.;4 26b. 9d„ to ' ;31s; sow, ; 37s. 6d." Horses—Harfiess horses, to £9; 'aged,_2os.'; pony, £2;-gig, £7 12s. 6d.; harness, £2 lCa. Poultry, at, each—Hons, Is. 3d., Is. 6d„ Is. 7d., Is. Bd., Is. 10d.,' Is. lid., .to 2s. id.;' roosters, Is. 7d., 2s. 1d.,. £s.- 3d;, to, 2s 4d. ;■ small. cockerels, Bd. to Is. ; -ducks, 2s; Id., 23. -2d., 2s. . 6d.'; 25..6 d., to!2s. 9d.;;>chicks, 4d.; hen and chicks, 7s. 3d. -.Produce—Pollard, Bs.; bran, 4s: 6d.; new potatoes, from £ld. to lid. per lb. for small , choico 'lots: old potatoes, ss. to 6s. per bag; small do:, 2s. 3d. 2s. 6d.; pig do., 2s. per bag; oats. 2s. 3d. per bushel; factory bacon,. sides,'-7d.; ; hams. ■ 3d., per lb. ; ■ ■- PAEMEKSTON . MARKET REPORT. Mr. Harry Palmor, of Palmerston North, ,repons .very;, heavy entries of both pigs and poultry at his sale last week. .Weavers were:slightlyalthough .several good : duality,pens realised high price?. Porkors.v'baconers, . 'and. stores cold. well,, particularly the last-named.' Poultry still maintains high i-iicos, and cockerels, turkeys, .and geesa' are scarce, although the -demand'is keen and-prices right. Quotations:—Suckers, 65., 08., .to. 9a.,-;' weaners,. 9s. 3d., -10s., 10s. 9d„ lis., 125., : tO |145.; slips, 15s. to 165.; stores and light porkers, 17s. 6d„ 18s. 6d.-, £I,'£l Is-.,- to, £1 2s.'; heavy'.,sorts, £1 45., £1. 55., £1 6s. 6d., to £1 7c.; baconers, '31a. 6d. to 355.; ducklings, 4s. 4d. to ss. 6d.; ducks, -ss. 6d. to 7s. 6d.; prime cockerels,: ,6s. to 75.;- 'half-grown and'fair,-23. 6d; to 55., chicks, Is. 6d.-to 2s. 6d.; hens and broods,: 4s. to 7s. 6d.j'hens, 45., 4s. 6d., 55., to 63.; geese, 3s. to 4s.' each;'turkeys,'6s. 6d.;to 12i "64. each; rhu-' barb, 6s. per dozen; gooseberries, 3s. per caso of 141b.': 1 251b., 6s;; :new-potatoes,-10a. to-12s. per cwt.; old potatoes,''s3. to Bb. per sack;..onions, ljd. to. 2d.'per lb.; cabbage, ss. to-6s. : nor sack) (very scarce); pollard,-'lob. 6d;; wheat, 16s. .(id;; oats, 123.;. bran, 10s.-6d.; chaff, 2s. to 35.; barley, 7s. to .-Iters' hams and -bacon,. 6d. to' 7d. per- lb.. Business is showing a tendency to: improvo. -' - BANK OF ENGLAND RETUKN. ' (By Telegraph.—Press' Association.-<sopyri(:ht.l ■ ■ London, Novombcr 2i>; The Bank of England return issued-for tho •week ended Wednesday; November 24, :is as undet:—'; . -'. ; . lesrci Depjjitmzsi. a ; KoU Issue ... f53,£80.C40 GoV.secnritiiflfll.ois.ooo \ / Other securi- ■' . / .' . ties ... 7.484.000- .:; ; ; Gold.. -...- 35,liM),CMl' "" . .: £53,659,030 ' : -£53.689.000 ' , ■ ' EiXKEiG Depaiitmkst, ... 1 rroprietors . . Govt, securi*. ' iapital ■ £14.552.000•' ties., £16.008,000'.-'■ 'I v Public'de- Otndr securij posits ... - 6,920,000 ties • ... 22,681,003 ,; - C-tber da- > • :.' posits ..." 40,430,000 -Notes' y ... 55.195.000 Befit. 7-day . - ana other -, . Coin ■ ... 1.307,001 bUls ■ 3,191,c00 , . ; - '' ,£85,084.000, £55,094,0C0 ■ The leading items of the Bank, of. England, return atford the following comparison:— - Thisweek. Last weok, Last year . "£'■■ £'. ' £ Bullion .1 ■ ' ... 55,24U,0C0 84,05U,CC0 . 33.P11.000 „ 'SS.fO-J.OCO , 25,264,000 ,15,6U1.000 .. 28.491,t0J ,28;431.000 ib,t21,009 ! l'ublio Deposits 6,0i0.00J 6,3-2t,i».U , , 9.W6.0U1 ;^:OtberDeposits " 40,4'i0.(Wj , 40,225,00J.'' 42,793,000 Vroportion of robervo to - * ;-' liaDilities 55.93 54.45 \ 48.93' . - '• GOVERNMENT'SECURITIES. . '■ The following 'are the, latest 'quotations for Government securities, witn .a comparison of those ruling last week-.— " * :. . .

' ; ' THE MONEY MARKET. ' " , The Bank .of England discount, rate is 6 per ■ 'cent., to which it was ; advanced' on October 2i. The open market discouut rate for beßt three m 2? * 18 * lower at 33 per cent.' ■.• v ■ , Short loans are i ;higher at 4i percent. . COLONIAL AND OTHER PRODUCE.' ■ 4 Wheat.—The wheat markets are quiet, but there is ft steadier tone. Despito continued heavy shipments, cargoes are well held. For Adelaide December shipment 3S>s..6d. is asked and 38s. '3d. bid; 38s. 3d. is for January-February, 38s. for February*Uarcb, and 38s. 6d. for steamer parcels, December-January. There is a small demand for Australian on the spot, at 433. 6d. Flour is dull. Australian, on the spot,'3ls. • Oats are quiet. La Plata, Jailuary-February shipment, 14s. 4d. . Butter.—Colonial butter isscllintr steadily at about Is. decline, owing to a reduction in Danish t° 1293. Argentine, 114s. to 1155.; unsalted, 116s. tolll7s. Importers are, well satisfied with tho quality of the new colonial, butters, which they consider generally-, Buperior to last' year's. Sugar.—German beet, 88deg.,'12s. 7d. .per pent, f.o.b.,,Hamburg; ilrfit mark*, granulated, 141 7d. llabbits.—/'.or; rabbit. sVins there is a "very strong market,. all furrietr» ; sorts making 30 to 43 t per cent, advance. Cutters' skins are about Id. dearer v . Kauri Gum.—At the kauri sales 509 cases were offered, and 120 sold, at extreme rates. • Bradford Tops.-The Bradford top market is firm. On the spot, 46'5,161d.; 40's. 133 d.; futures, 64's, 263 d.; common 60's, 24Jd.; super, -253 d. : ' ' THE METAL MARKETS. _■ Copper, on the spot, £59 lis: 3d. per ton, 136. 9d. higher; three months, £60 12s. fid., 12s. 6d. .highed; .electrolytic, £62.68. - - • Tin;— Spot, £142 ss. per ton;' three months, £144.. ss. • V . • Lcad.-7-£l3 2s.' 6d. per.-ton.'. - Pig-iron, 51s. per ton. ; . • , . . THE FROZEN MEAT MARKET. ' ' (By- Telegraph.—Press Associations-Copyright.) (Rec. November 28, 5.5 , p.m.) • •'' _ „ London, November 27. The Frozen Meat Trade Association's Smithfleld market quotations for the undermentioned classes'of frozen meat are based on actual sales or not-less than one hundred carcasses of mutton or lamb, or twenty-five 'quartos of beef of fair 'average quality.' The. quotations aro not for selected lines,- but' for parcels' fairly representative of the bulk of'the'shipments now on the market. The priced which, follow are on an average a farthing, per, lb., more, than the value ex ship, this difference representing, an' average cost in expenses, handling, eonvsyance, and selling tho mcat:— : ■ ■ ■ ' Nov. 20. Nov. 27. Mutton—. : ,1. ' d. light '4J' 41-16 . Canterbury, medium. 4j 41-16 Canterbury, heavy 4 315-16 North Island, best : — . North Island, ordinary ■ 35-16 33 Australian, light 3j 31 Australian, heavy ;„..v 3 7-16 " 3 7-16 River Plate,'light 33 '38 ' Eiver Plate, heavy 38 .'3l I li'amb— . - Canterbury, light 4J 4V Canterbury; medium .315-16 ' 35 Canterbury; heavy 3g 33 Southland .4 33 North Island, selected, . 4 33 North Island, ordinary . 33 311-16 . Australian, best — ' — . Australian, fair — . — . Australian, inferior. '• RiVer Plato -—• - ' — ■Beef— : " , .„ „ New Zealand,;ox fores 3 ?21 -New Zealand,.'ox'hinds .1.'.......,.•'35-16 3i Australian, ox fores .3: . 213-16 "Australian,'ox hinds"..„...'. 31 "• "3> RiverlPlate,, ox.-.fores 3, '33-16 . ■ Eiver Plate, oil hinds.-.. ;! 3.5-163J : ; 'Rabbits are- quiet , and unchanged; . ' - Hares.—Nothing doing !in ■ Australian 1 ' hares, holders refusing to. accept'a, reduction., •' ? - The' New' Zealand Loan' and Mercantile Agency Company, limited, have rocoivcd the 1 following cablegram-from' their London'house, under - dato November 26:—".Frozen ; meat: - Mutton market gradually .declining. . Lamb market weaker. Ucef market slightly weaker."

Variations' ; . price ' comparod . f nce .: with ' .• . ■ ■ • ' ■ - • last week. : ' , , ... £ s.d. - 2 4% Imperial Consols... ... 8-2'XU 0 Unchanged .4' .;, N.B.'W. 1933Jan.-July108 0 . 0 . 2s:Cd. higher. 35 „N.S.\V.1918Mar-Sopi .CJ 10 0 ' Unchanged.. 3 > ,.N,S.\V.1935Api.*Ocfc.. ..v 85 10 -0' .. Vic-MOJan.-JuIy... •; 103 30 0 Unchanged 34 „ Vic. 1921-6 Jan.-July . .... 1)8 10 0 15s.highdr '!( B \io.ll29rWJan:-Juiy. 86 O'O 'Unchanged '3i „S.A. 191SJan.-July ... 93 .1 0 Unchanged fo S.A. lOlli Jan. July •• 81 10 '0 Unchanged '4 ,QTdl915-'.UJan;-Juty . ... 101 O 0 Unchanged .34 Q'i'dlttM-iiOJan.-July 10 0. „ 20s". higher 3, , <4Tul9£l-47Jan.-Juiy ... : -8»-'0 0 Unchanged i, .H.Sd. USKMay-Nov, 105 0 0 5s.6d.lower al „N.Z.194i)Jan.-July , ... 09 o 0 5i, higher 3N.Z. 1915 April-Oct.. ; 86;fi-0' ; Os.highiir 3t ;... ' 93 s 0. 1 fs,higher a ,;\V,A.1015-354l4y-Nov ■' .... 88-0.10- .Unchanged 34 ,,1'as.lWO Jan. July ..... , 07'12 .0-' , Unchanged; 3 „Tas.lO!20-40Jftn.-July, ... .87 14 G'.. Unchanged