COMMERCIAL ITEMS.

Dominion, Volume 3, Issue 694, 20 December 1909, Page 10

COMMERCIAL ITEMS.

INVESTMKNT SHARES.No business was- recorded on Saturday. National Bank, sellers £6 is.; Ecuitablo Buildine. buyers. £9 12s. 6d.; "Wellington Trust and Loan, buyers £7 Is.; Wellington Deposit," sellers' Bs. 6d.; National. Mortgage, buyers £2 18s. 6d., sellers £3; Loan and Mercantile, sellers 45.; Pending Gas, buyers 215., sellers 21s. 6d.; "Wellington Gas, £10 paid, -sellers £18 2s; 6d., £6' 15s. paid, sellers £14 55.; South British Insurance, buyers ±2.135.; Standard Insurance, buyers £1 2s. 9d.; Meat Export, third issue, sellers £2 175.; Kaiapoi Woollen, preference, sellers.£s; "Wellington Woollen, sellers £3 4s. 6d.; Taupiri Coal, eeUers 19s. 3d.; Westport Coal, . sellers £6 55.; "Westport;StocUfcon, buyers ' 7s„ sellers 7s. *A.i LeylandOBnen Tintoer, buyers £l. 3s. 3d.; Manning and Company, bnyers £3 165.; Miramar preference, .sellers 19s. ;• New Zealand • Consolidated Dental, ;sellers .£l 4a.; Sharland's ordinary, sellers 215., jprcference, 215.; Ward and Company, •sellers £4 17s. 6d.; Wellington Opera House; sellers £7 17s. 6d.....

THE JIONEY 3IARKF.T. Although the Bank of England has lost cold ito the extent of £1,352,000, and the reserve and proportion ,o£ reserve to liabilities have decreased there is no prospect of,any advanco in ,the bank rate. After the end of the .year tho .bank wil! have greater control of-tho market, because of. the fact that in the, first quarter of •tho year tho main taxes arc payable, and the Treasury account at the -bank will, therefore, .be large. Even now .tho bank vlias control of Itho market, and this is. seen in. the hish rate charged for call money. Tho. open market rate for three mopths' bills has hardened *Bl!tchtly in London, but it' is unchanged in Paris and ,Berlin. The pending general election at Home ■is no doubt causing some disturbance, but taking all the circumstances into, consideration ; money should bo cheap, in tho new year, that ia •to say, .there should bo a return very early to itho- 2 J per cent., bank rate. .

' ARE "CCMBINES" BENEFIOXAIi? . !_At a meeting In Berlin ■ recently tho Central i Union of German manufactures discussed tho j question of cartels and . syndicates and their on the development of' German indU3-' J tries. It wan agreed that their inilucnco was ;not, always wisely used, but tho general opin•ion appeared; to be that, taking all cireumjstances _into consideration, tiiey. had been of ibeneut to the industrial .world. There was dis- • pussion about special. and- genera! difficulties [such.as tho many-sided nature. of tho various jpranclies, the local divisions,' the frequent • fluctuations in raw materials, and tho. rapid changes in fashions. Nevertheless, progress had • been made, though most of tho cartels are .merely loose conventions: regulating credit con- , ttitions. At the- present timo -'thoro are about ;sixty cartels m the textile industry, whilo threo : years ago .there were only thirty... It was asserted that, in spite,.r.pf, tho,.limitations!'of the enatißg teitile cartels, 'they-had beos':-.bencfl-•cia : ; to pritjducers, the conditions of payment and credit;!-havinc considerably improved.

r Customs collected ; aVTCeliinffton Saturday amounted to £1074 18s. 9d. The-total ifor tho week , was £17,374 2s. 3d., beer datv : amounting-to £402 45., and surtax to, £423. 7e.. 9d.