COMMERCIAL ITEMS.

Dominion, Volume 3, Issue 705, 3 January 1910, Page 8

COMMERCIAL ITEMS.

,/ INDIAN BANKING 'i'he creation of ■; entirely, new - banking, Institutions' may, broaoly : .\ speaking, • bo taken' aa indicative, of ' the .progresa , of : a

country, and judged by this standard tho ecouomio conditions of India are-improv-ing. In that large .dependency of. the British Empiro . tho re, are already .27 ' banks, ,'of which ten/are of-foreign origin, with head offices in London and' elsewhere. How much of their capital of £16,000,000 is employed in India is not known, and the bulk :of their. business is in connection with. exchange operations.'? The growth of . the Swadoshi; movement' is responsible for l the formation in Bombay: of several native in. stitutions, tho most recent of; wliich is the Merchants', Bank; (Ltd. At its first -annual mcoting, held last month, the chairman -stated, thatr tho expansion ;• of V'-commerco and industry, had led to/an increased demand: for; monetary accommodation, and in his opinion there 'was "yet room in India for more banking institutions.'on western lines. The unproductive hoards of tho natives*, should bo. coaxed tor'come' to .the surface, in-order, to bp employed in tliede. yelbpment of India's material resources! If properly approached there was no reason why.'the masses should not..entrust their, ■savings to the .banks .as; freely as to tho native broki:rsC and this would occur, in jtime'if the people'once realised the greater 'security of: tho "joint stock conccrna. At present tho " small trader, the artisan and' 'other .classes: who- perhaps ' have a comparatively trifling/capital ■ have no ,finan-; cial .facilitiesVunless they" resort 1 to the ,private money-lenders ;• and. pay higher, rates of interest than those prevailing in the bunks._ ■ - /;,;'/: '■• : The possibilities in: this -direction appear 'to be recognised by Messrs. E. D. Sassoon. and ; 00., this weU-known .blinking; firm l ' of India and London, under whoso auspices the' Eastern Bank,/ Ltd.;,. has just -V been founded;. The authorised capital is £1,000,-. 000, of which £500,000'will'be/paid up,, and the sphere of operations .will- be India and-' the East. . . . j,/,-/";/:/;-V /i/if .;' v ,/ V, ' WELLINGTON MAEKET .BEPOET. r

'...The : New.;' Zealand; Farmers';.Oo-operativo Distributing " Limited;. reports as, followa":—As : fusual,;,at, this festive' season' 'of . the; year/the .'market'is in a disturbed state,, and values ,are subject to - extreme fluctuations from day, to : day/' Fruit il in' good demand, particularly choico dessert kinds, •of . attractive appearance. /Owing' to ;,the ' stoppage; of', strawberries. from the • north,;, prices are still ,' ruling .very , high,with . eager demand. Dark varieties of , plum 3 V are; -now/most /inquired'' for, ; , and'' tomatoes are, of/all; lines, most' sought af-; .ter./Small./hajd'apricots; and 'peaches ihave vbfon: low. , in-price," and of o slow : de-' mand," hut jam .fruits will-.be in greater request : after.; the holidays. >; Apples - so fa.r iare i undersized; laTge; lines'-'arriving short-; fly ' will meet, keen sale. ' Vegetables' have all sold at high values, but peas twill-pro-bably "recede •next ' week.Potatoes have, ;g'enerally.'speaking,.: been small' and' not>'6f the. best qriiility,. otherwise ' better values would obtain. Many growers are . holding back, 1 anticipating,' a;:rise .towards the : end of .riext month. , Eggs have been; in short Supply/at 1a:..4d.'t0. Is. 5d.;/but. early decline may; now be looked for. : ' Quotations:: —New potatoes, best Hutt,- £7,108.;; medium; i '"£6; Otaki-grown, ; per : ton j cabbage,, ; bhoice' 10iV,v6rdinary , : 7s.V : inferior 4s. per /sack;greenij:peas, :is.; per', peck;: carrots,■Hutt, :la., dozin; '.'excellent . demand; tur'nips/; white, ',Sd. .to 10d.: dozen, .excellent demandV ;.vegetable 'f marrows,'-,new./: 2d;; to sd. cach\ Kood-..demand; .lettuce, choice '2s.v ,6d. to inferior, l.s. per;, case'; spinach,', .'best,:: 25.%>«,, - case j 'FrenchV beans,' ;ohoico Hutt ?d.,/other 'lots; Id. toll}d.; cucumbcrs/ hothouse'k2s.;'.;6d;. to a 65., outside grown is.;'to'' :2si/ 6d:i per dozen;/broad • beiinsV Id. :p'er 'lb. 1 ; .'spring onions, Vlid.';, dozen bundles;: -butter; i::bcst if separator, l ,; printed■; wrappers -Sd.' t-o Sd., 'separator, bulk, Bd., dairy pats ;7d,; to Bd.. cheese; ;best >factory' Imodiums. .6d.'.per''lb.i:lpaf '6jd.: per 4d. to Is. sd. per dozen,, good 'demand;bacon, Ifactory r sides.^63.,"rolls';'9d., Vhams : 9d. ;por; : lb.;;honey,, d'emahd is, weak now jam fruits' ;available,;.'6o's :M.,:-14's - 43d;. : 'per 1b..; ibees,.vmx,strong, vintiuify; 'consignments would. realise high .'values; fungus; keen demand at sjd. per 'lb.; .walnuts,' scarce; early. ; -lots, would . realise' liigli ' values;U;tallow,'. tins.' :21s. ,to . 22s.'.per' cwt.;' wool; 'and hides,"special sale, on January I<J, .1910,; onions, : new,r. Molbourne Globes, £9, per ,tbri; torii&toe.s,/hothouse'®.,' outside' reds. ':12s. -to ' ,15s;;- -medium, ;9s..'per' i-case, very ' good/demand; rhubarb l , Is. to, ls.vad. 'per' : dozen bundlc:;, poor demand; goo:;eberries, ■best, ss. 6d. to,:6s. : per.' i-case; apples,' cook2s>.< 6df: per. J-casa,-Irish.'Peach. 4s.'. perfJ-caae; ,'apriootsi choice large vMporeparlts';. 7p".,',;n)iedium,' Ss.-iVsmilU :25.-;6d.', per'; Incase'; peacnes,'/.choice,, dosseH : ',75.,-"medium. : ;ss.,VsmaH'j2s. I '6d. .'to, "3s;vger }-case;; plnms;'; cherry,;: large^>3sJi-6d.;; to' :'4S/ .small 2s.",6d.i;:dai'k ' sa.' Cd. ,to :6s. 'per-rj-case; - strawberries,': 2s. '6d/ peri,lb^;. cherries, Nel-: '.son, ;dessert,y3aib.'crstes ;?s,i.'td'lls.ii.'c'ooking, small'3s?.;per : 'iustraliaa 7s.' per. 121b.: case; ' raspberries, 45. : ::6 d.' 'to > 6s'; pari ;b'uckA of about. 121b,;;.ipoultry,- .cockerel's, ,ss. 6d.. to 65.:6d..f0r good birds; small, 3u. 6d,; table roosters,. 4a. 6d. to ss. 6d.; table .liens;. sg. j. small, -3si; to 3s;; 6d« i ducks, lanjo :7s. 6d.,; amaU ';ss/; 6_d: iper-y I^aii'; t^irkey' gobblers;, Is.: per lb.; liens,' lid. per-lb: livo weight ' r

WHEAT, OATS AND BARIiEI, (Rec.j January'l, 9.15 a;m.) . "• ,-j ■-:*• London, December'ill-" , ,; .Wheat;— September; shipment ; offering; at 455;, October, shipment 435. ! , December-Janu-ary -shipment 395. 6d,, January:sliiprnoiiL--39a. '3d.'; jieri onarter... ', - ,;'■:-;'. : ,v' '. Oat's.—La JPlata, February shipment, 143.' 3d. v- ;v .• •, v•, Barley is nefflected h ,arid. : quotations are unchanged ' :A' few'- remnants] of iTairiiii's \shipmqnt of' New, 'Zealand;butter, have • beeri- cleared : at ,ii2s/;V i, ;;4 MARKETS;''. '; : i• ■ (Eec. January 2,'5.5 p.m.) ••,■■. ir. -----.: London, .January: 1. '. . Copper.—On.spot, £61 155.; three months, £62 15a.; electrolytic, ; £6s :it)s.V per ..'ton. :• Tho firm :of: Yiviau, Younger, 1 and .Bond .that'it. is believed that the American. negotiations .'will,'-''result;'^in : a. prepoii-. derating.; projiortibn i.of ,tho production 'of copper being handled byono selling agency rather than '■! any huge .ainalgamation being fotfmed. There are'indications:that a 'satisfactory, volume of:.trade ' will be main-, talned ,durins: :the'current year.; .:;. : ; :Tin;—Three -'months',' £154 10s.- per' ton. - Stocks, • 21,358-' tons f, oh;, spot, 7645 tons;' aff oat. ■4969. tons,'deliveries 2944.t0n5. .;: •. i. Lead.—£l3 12s. 6d. per ton.,'; . , ! .COLONIAL ASD OTHER PRODTJOE. • ■;.' y,:-,••■ ■: London,. January 1. . :* Wheat.— Twenty-five ::;thousahd,; ..'quarters :'Auß'tralia'n ': Becember-January'-'--shipment sold': at 395. 3d., and a "cargo. : at ,40s. 9d. per, quarter. ; • . .' • . ; ':-The? ofßciai;:,estimatb ' of-sthe .Argentine wheat crop' is ,',4,278,500 : tona.' v : . ' , Copra :is quiet. / South . Sea, iu bags, .£24 per ton