COMMERCIAL ITEMS.

Dominion, Volume 3, Issue 723, 24 January 1910, Page 8

COMMERCIAL ITEMS.

' ' ryi:; • i 'The •' oftho:; bank v rate' to • 31 ; per • cent. ; was 1 inevitable,* .considering the -strength. r'of; . tho,- London [/money. : market.; Thevolections -wefe r no' doubt 'calculatcd .to,: • disturb"the 'market,•'•and 'perhaps:: did -so;: .but- the.''flrst":<iuftrtOT l . i of-':;the\ , year ; iia\-in-;' vanably- a period of abundance of credit, 'and - it: is r hot'-'; likely'-.that - .31 - per/cent •is the limitof,lithe . reductions. . • The bank'. ' rate 'will.'/no 'dbubt, ,be,reduced*!'to.' 3.', per: cent-,'and -\vill remain at: that low- rate for-some .time.-: As 'a> result, of .the'eheiipen-; ing 'of ivmoney ; a - great V'rush . placed'•oni:the .London "market- may >be','an« ticipatbd, 'but it sueattend, alt .such-operations.'. As' : v ihfornied 1 ::- v uß, Canada have ribt' fared very 'well' in I^ their7 emissions;' ;Ooihcident : with the'. i'cheap<Miing<bf. i mbney^there, comes • a • mar;vellouß -'expansion :of -'trader and - the dei jnah'dsV 1 bf. ltrade '/will ball, for.; enormous . efedits,' : whioh-• will ; tend • ,t6; keep\ me.ney-! at airly.' high, j ve 1/ ; .p'';'' ■:

BANK OF ENGLAND EETTJEN. ,By Telegraph—Press Association—Copyright. > < London,-January, 20. 'v- : • tha January • o*. . ISSITE: iDBPAIiTiEE N T. x Note issue ••• 5 £53,051.000 Gov.'debV... £11,015 k)00 •it ','i .. - . > r.-VV, 7,434,C00 ; V1'vv;35»502.000.£53,951,030 V: Tv - /i 53.951.000 ■ rroprietoraV- ' 'Govt.:securi- : ' .capital' £14,553,000• ties.':;'; V:'.'... £14.703,000 Publio.do«;'v -v ... --v, Other securi-> , : p05it5.11,303,000: ties...- :■ 29,377,030 OtherdC'. ':.'. ' ..-' '•;.p6sltß 7 : ; .;.'41,590,000:■ Notes 25,047,000 Best, 7-day r .■; . : , and other Coin •!»,064,000 /.• bills';.; 3,461,000_ : ;:;- : V;: A ;;: ' £70,996,000 : i l 'tho''Bank'r'of England- rietarn k . afford-:'the'. folloSving • com3;'. v - ' This .week.'lflist week.? la3t year -* • /"•?.'.<> ■ ' /£ /-•*: • Bulllon-;.V: 35.502,000 - 33,844,000 - 31,622,000 Kesen-e 26,011,000 V 34,9-24,000;* '22.443,000 Note circulation - 26,004,000 - 28,277,000 '29,065.000 Public Deposits 31,3W/XX) -. 1 6, i'. 7,G48£00" Other Deposits:-- 41,590,000 <U5,491.000-:'41,121,000. Proportion:'o(, ■; •<.: v,v i... v--" -..v .;rcservs,.- -to?- ! >• ■»... —•■ ■ /liabilities;,^: ; ] vV v.- V ' '.rGOYEBNMBNT-.'SEpUEl^niS.;•;; '-TKbi foliowing arbvtheyiatest. quotations, , for',.v,G6venamont «>vith • a com-,-parifionvof ;-those ruling ■- \ t

• ; ; V; ; ; • .Tjio Bank , of rate is 3J por cent;,, to which it iv/as reduced from '4. per : cent.-'on January. :20." • , Short, loans aro 'Jvlo-wor at 28 per "cent.. 1 ,'v Thei opeu.-.market of discdunt for.' ;best -thrco jmonths''- bills, ia ' J lower at '2 15-16 per cent. 1 : ;\Thc Paris rate is un-changed-at .23 .per cent.,' and, tho Berlin 1 rate 'is unchanged ■at 3J per cent. -'. "" -V . GOLONIAL ; AND. 'OTHEE PRODUCE. -Whcatl— I The iharU'etg-are-dull. Shippers 'Bituatioa ; is " unchanged. . • Chicago :.May wheat • is- quoted at 108 a .cciits. South ; Australian - and Victorian, : y per- ; January rliold- Ueadilyi/'ljut resellers .Are willing to 'accept slightly lower prices.. . Tho general .steamers, .aro offered at : 4os. 9d. per fluar:ter; February shipment, 40s. 6d.; Australian, :per-' sailers,-Decembor-January - shipment, 40a.- 3d.; January-February, 405.;, February- ' March, *400.; t steaiher afloat, 41s. 6d.;; January-February . shipment," 395. 9d; i ; Flour 1 ; is Qitiet, with an easier tendency. . '. Oats are. unchanged. , .'Ncw: Zealand Gar_toiia,,l9a. 6d.. to :225.; • sparrowbills, :19s. to 208.; ' La Plata, January-February shipment, lis. 9d. • : Butter, :is;-. yery; firm,.and;-'arrivals aro being «• well cleared.. .Danish, to 1205.; choicest, 108s. to :110s.; New Zealand, .'choiceßt, ,1128. - to 1145.; - Argen- ' 'tine,. 1 litis.•• \-> •; Cheoso is firmer. New 565. to • 575. per cwt.; Canadian, 58a,-to 60s. Sugar—German: beet, 88deg.,ls. 'Id. lower at -lSis; 9d. per, cwt.j lirst-marlc granulated, f.o.b.* Hamburg, 2d. loworvat I4s. : 10d. ' Bradford Tops.—The toiio of tho market is choerful, but prlccs aro unchanged. " ■ Kauri Gum.—At tho sales -527 cases wore' offered,-and 75 sold'at full prices. _ " . .Sheepskins,—At. tho- sales -. 5295 '. Austral-. ' aeian wero offered; \ There was an average •attendance of ;.buyers,; .and tho • competi-': .-tionf'Was go'od.i Priceis for merinos • were Uiuchanged; Une crossbreds wero from par toVS por. cent, higher; low crossbreds, 5 : to, 10' per cent, higher. • • , THE JIETAL MARKETS. ' CoppeiV on. spot, Ba. 9d." lower at£6o Bs., 9d-"per ton; three months',. IQs. lower at 3d**';.' :v

'.'■Tin/.on spot, 275. fid. lower at "£146 17s. 6d. por ton; three months', 325. 6d. lower at £118.79. 6d., Lead, £13 15a. per ;,ton. . • Pig-iron, 4d. higher at 525. 2d. per ton. LONDON . WOOL SALES. By Telegraph—Press Association—Conyrieht. * . London, January 21. . The top price realised for the Gear clip at thd-London sales was 14Jd. per lb., tho average beiDg 12Jd. ■■ . ' I'ROZEN MEAT MARKET. By Telograph-rPress Association—Copyright - (Rec. January 23, ~ 5 p.m.) ._ . '. : London, January-22. • , Tho Frozen Meat Trndc, Association's Smitliflcld market quotations, for the undermentioned/classes .of . frozen : meat. are based on .actual sales of not 1088 than one. hundred carcasses .of mutton or lamb, or twenty-five Quarters; of. beef of fair averago quality. Tho quotations: are .not for selected lines, but- for parcels fairly re-, prescntativo of the bulk of the shipments now 1 on .'tkc market;.: Tho prices which followare' on an average a farthing por lb.; more: than the values ex ship, this 'difference representing, an average cost in -expenses, I ' handling, conveyance,..and selV ing -the meat:— • . . V : , . Mutton—; •/' d. d.

I / , CHEISTOHURCH PRODUCE., (ByTelegraph.—Press •Association,! . Chrlstchurch, January 22. -Wet weather prevailed during, the post few -days,. and momentarily.; put a ; etop,, to harvest operations, but 'riow'there' is every. Bign of the weather clearing, and during the coming week the' harvest will;be in • full swing in all. parts of Canterbury. - So; far," the' samples of wheat placed on offer: have boon few, in .number, and the quality; shows a great, variation-according, to the district in which they - have been •'grown; Old ~- season's grain 'still commands prices, but • new. season's grain -is: selling at somewhat , lower ,prices, buyers- being <in < many : cases somewhat doubtful as to -its condition; "During the week sales have'been- made! on. the. basis of from 38. 94. to'3s. : "Tlie latter price, was paid' for prime quality -: Tuscan. " A factor which prevents exporters' operations, is the difficulty' of - securing freight, littlebeing obtainable for; sbmo: time.. -There is .agreat shortage. •of -: cornsacks,. and in. .many: caseß merchants have cleared .the whole -'of their, stocks. .A: fall''shipment is" expected Vto s arrive • ; in. Lytteltori -within •tho 'next: ten- days.but' iit is - .doubtful .whether: this will suffice' to •, meet i the demand. ; •. i" V."' - f Little, of. .the new season's oats has yet come forward;',indeed,-; supplies have been barely large* enough ■. to_-meet the demand fbr; .shipment - coastwise. ; /' Algerians ,vfe chiefly'' in ; evidence,.'other .being scarce; i Last: season's Btocks are now - very, 'low.vandicommand jprices quite up; to quo'tations, ,tho;.new season's ; cereal ; : this- general price at'which. sales: have been made has been Is. = 6d: to Is. -'6J'd.i' oh. truolcs at :country stations, ! but in' a few cases . a . halfpenny/..tQ - higher ; has been • asked and given ior parcels 'of ..very prime-;--;r * Generally, it is .believed, the ! barley.crop: 'be . Bmallei;'.-than last Jycar,' mainly 'Hi:; 'the'v result .-'of; the • severo' storm on' : Christmas '• Day, : : . whioh. - broke" • the. : . straw, preventing, tho grain from ; maturing properly. . In consequence 0f;.,: this'. many •samples,'.although colour, .are : thin and .attenuated, with': the s result that .there is a very wido rangc. and priccs forsuper:samples realised 4s.rper bushel, while lines *of . poorer ' prade/.rango down to 2s.' -9d; . : As.yet offerings 1 arp ; limited, 'c:- " Perenniali ryegrass,.'-for '> which there ' is:some. ipaui'ry. from;,the::lv T drth /inVi3hort supply,, but of Italian ryegrass a'- = fair! amount ',is; : still-; on ! offer;' - •; : •*. -r •

; - V MIN!NQ '-NEWS.. r v '- Very 'Uttlq]tiusiness .was .dono jast Weok;'' and .the bourse :of sales was 'as follows:— : May--Queen, 3s.' lld., v 43:-- . - ). ,-''New-Sy!via; : .3s.v4d. .:>• •'•: .Old Hauraki, 4s*;* 4s'., 45.; 3s; 10d., 3s.' lid., 45.;-'4s. Id., ,45.,' Id.,' 45., 2id.v 4s. 3d.,' 45. ; l,lloyal7 ; Oak'i'.io;' ; :''2d. : ' ( v v - ; '' -. >1* .Talisman,-' -44sr 9d.v '455:,' 445.; :: .4<18.-3d.,'455.,'445. 6d., 445. 6d. , Waihi, £9 165., '£9 -16s. 9d. v ; : -' ' >Waihi : Grand 'Junction, '355; 3d., 355. r ,: Waitangii 2s.' 5d. : ;• v . • . Consolidated Goldfields, 395. 6d., .'l9s. : 3d., 195,";6d.; ; ,y v, '; Goldfields, '.98;, 3d.r Bs. 3d.-, Bs. Id. ■ The .Wellington-Stbck:Eschange will be' :cloßed' , : STOCK EXCHANGE. , ] (By . Telegraph.—Press..: Association.) ; --v . , * . Auckland, 'Jknuary 22. /: Sales at this^morning's 'call, included :— May Queen, ,3s. lidi; New Sylvia, 3s. 7d., 35.:-Bd.; .Old .Alburnia (con.), is. 6d.; Waio4 tahi, :4s. 6d.; Old.Hauraki, .48.-'6d.;-4s.'-7d.; 4s. 6d.; Seddoh; 21dij Orown,>ss.: 8d. ; ; Talisi man,, 455. : - :3d.;Monow : aii' Is; : Bd.; - W ait angi, ;ts. 7d.; ,V; ; ;. . , ';V , : V . ! /,y DREDGING. .1 :;:(By> Telegraph.—Press' Association.) '/ v : Dunedih, '•January,'" 22. . 'New' 15oz. sdwt.;. Worksop, 540z. 17dwt.; : Punt, '.12oz. 16dwt.; Waikaka iCnited No. l, 3ioz. 12dwt.;. Waikaka United N0.,-2,1200z. t.2dwt. ;• :Blackwater River, 28oz. Isdwt.; '260z. ldwt.; Riley's Revival; 240z.\ :.10dwt.; Rise and. Shirio. No.' ■2; 83oz; : 12dtjrt;; Rising. Sun, ; 76oz. 2dwt.; Rise . and) Shine N0;..1,- 640z, lOdwt.j,"Alexandra. . Eureka/640z.- .ldwt. --

r'V- ; - -V -Variations-V-V.-v-;; compared • . • ■ v - last voek>' - : i':- : 1 .r\- •. '■■■£ s. d.- V.vy:-v 25% Imperial Consols, ' 8-2 15 0 2s. 6d; higher •i t t ,N.S.W.1923Jan.-JnIy 10?."Illy" Unchanged ;3i ..'N.B/W.lOlSaiar.-Sep. 09 10 • ; Unchanged 3 >i,N.S.\V;1935 Ap£-Oct. •' 88. 0 0- • 30s,hight;r > „Vio.lfl20Jan.-JiUy.;: 103 0 0' •; 10s. higher 3i Jau.-July. : G8.0 0 Unchanged 3 M Vic.l0 , 29-i0Jan.-Jtily 8510 "0 : 108.; higher S3 S,A;llfll6 JarurJuIyv : . <97-10:10. Unchanged' \3'/.„S.-A.Vl5)16 Jan.'-July" '. . 84v;0 10b. higher '^„Q , l'dlQ15-2lJan.-July .103; 0 ,(T '•.•UncbaBged3i.,;,Q'i , ai024-'30ifan;ju|y '28.-. 2 *6 2s.6d.higher ; *3;)',, Q'l'd 192i.,47Jan.-July *-rS5." 7.6 7s. 6d.-higher A -N.Zi 1929 May-N6v. v •. 105 10 /0 Unchanged 3i 98 0 0 -Unchanged 3 „ N.Z. 19-15 April-Oct. 87 0 0 lOs.higher 3j „ W.A.1920-40,May-Nqv Unchanged3 4 > . ; 88* 0 0 Unch'angod .3i.«Tas. 1940Jan.-July - 97 0 : 0 Unchanged: 3 ,,Taa. 1920-40 Jan.-Jaly • 85 10 0 •. lOs.lower

: ?';Jan. 16 Jan.22. , Oantcrburyi -,light —. Canterbury,- medium'......... — , . — . Canterbury, heavy — . 7; . . Southlandv- .-4 ' 3 : North 1 Island, best 3n . 32? .. , North ; Island, ordinary. .... 32 .y., — • - Australian, light 3 5-16 Australian,: heavy 'Zij*:.. > . 33-16 • : River, Plate, light' .35 ; • 03 . •• River -Plato, .heavy. 3i - 31 Lamb— . • • • . Canterbury,t light ...... 43 . J?--•Canterbury, medium ......... 4J ; ; 4* Canterbury.' b*avy '-y.:. , 7" -. . Southland ........ ,4 .4 North/Island, 'selected; . f , North Island, ordinary , v ; Australian, v best ................ 33 . 33.' ' Australian,'fair 3§ 3£ , .' Australian,, inferior,; 3S v. 3jj ; • >Iiiv0P- J ' Plato — 7 Beef—'./• • v." • l ' } .. ■ '■ •Npw Zealand " ox fores-.-.. .23 ril •' New'' : Zealand ' ox. hinds : 38, • 3jj. Australian:;ox fores.2i}< 22 - 'Australian ox hinds : . s? - ■ - '••River. Plato, ox- fores '2a ; '• 28 r . • River Plato; ox hinds ; 3. 3 .•