COMMERCIAL ITEMS.

Dominion, Volume 3, Issue 787, 9 April 1910, Page 8

COMMERCIAL ITEMS.

. INVESTMENT'SHARES. : A sale of. Bank of..New. Zealand 6hares ; at £9 lis. 6d. was recorded yesterday. National Bank Eights J'are substantially higher, buyers now offering £1 145.; Bank' of New Zealand, sellers £9 155.; New' Zealand Loan/ and Mercantile, buyers 65.; Now Zealand and River Plato, buyers JBs. 6d;; Wellington . Trust ' and Loan, buyoi'3 £7 2s. 6d.; Feilding Gas, buyers £1 Is. 6d.; Wellington Gas, £6 15s. paid, buyers £13 7s. 6d„ sellers £13 12s. 6d.; Gear Meat, £1 paid, buyers £2 135.; Meat Export. £2 12s. 6rt. paid, sellers -£2 15s. 6d.; Wellington Woollen, ordinary, buyers £3 Zs., preference, buyers £2 .95., sellers £2 iOs.; Westport Coal, buyers £6 4s. 6d., sellers £6 65.; Leyland-O'Brien Timber, buyers £1 4s. 6d., sellers £1 ss. 3d.;' New Zealand Consolidated Dental, sellers £1 4s. 6d.; New Zealand Paper Mills, sellers £1 35.; Sharland's ordinary and preference, buyers £1 2s; 3d.; Taranaki Petroleum, buyers' Bs. 3d., sellers 9s. 3d.; Ward and Co., sellers £5.

... WOOL TRADE AOTIVITr. Wool growers generally will bo interested to learn that there is considerable activity in .'the woollen trade,.; which must be reflected in the value of the:raw material. Tho • March sales ' witnessed - a • slight recession.in the, values of crossbred wool, but any "pronounced set-back is unlikely, because the. manufacturers aro doing well. "The Economist," of February 26, published la very cheering, note from its Leeds, correspondent, who writes: "If ono wants to see a fine spectacle,-then ho should walk - through any Yorkshire manufacturing centre, say, after 5 o'clock on an evening when all the factories are lit up, and when there aro visible signs of activity. . Very few mills iudeed closo down at the regular hour of 5.30 p.m., the majority to-day running till B p.m., and several all : night, i Many manufacturers are going, in for renewals, "scrapping' old machinery, and filling up with quicker-running and more efficient spindles and looms. The difficulty is in obtaining delivories of new orders in anything like decent time. I understand a fow new spinning frames can be obtained under twelve months' delivery, becausc the best spinning machinery makers are uncomfortably busy, having already in hand, large orders. While loom makers are well off for contracts, yet they, too, are asking three months on now orders. An old firm of .Biretall manufacturers came to grief a short time back, and the creditors determined to sell every., thing by auction. The sale took place a fortnight ago, and the looms in particular 'sold remarkably. well. I havo never. known a time when either second-hand' spinning frames or looms sold at anything like the prices which they are now fetching. At this particular mill- in Question a large number of looms were offorcd, and block's that were installed in 1901. actually sold for £41 10s. per loom. Those looms when new cost about £55 each, and they had already been running niuo years. There were four boxes at either end, and 100 inches wide. In the case of looms with two boxes, 90 inches wide, and running 84 picks per minute, these sold at £36 10s. each, and were ac-' tually installed in 1898, costing then about £50 to £52. Here we have an important side light showing how busy West Hiding manufacturers really are. ' In an .ordinary time. £25 each for such looms as the above would have been considered a splendid price; in fact, I havo known really good loomß nothing like done with soil for £12 to £15. The whole of tho West Hiding has nothing whatever to complain about, and more trado is reported among iow tweed manufacturers, both on homo and export account."

" NOTES, Tho Bixty-flrst annual moeting of members of the Australian Mutual Provident Society is to be held in Sydney on Friday, May 13. Messrs. A. IV. Mceks, James Burns, and' Adrian Knox are the retiring directors, and, being eligible, will offer themselves for re-election. Insurance legislation in tho United Kingdom last session extended over a somewhat wide Held. The Marine Insurance (gambling policies) Act aims at putting an cud to the practice of Rambling in marine risks, by issuing policies to thoso who have no inierest in tho subject matter of tho insurance. Tho measures taken are strong. Henceforward it is to be. a criminal offence, punishable by lino "and imprisonment, for anybody to effect a policy upon a ship or cargo, either as insurer, broker, or assured.

without having a real interest in their safe arrival or preservation. Tho law relating to lifo assurance companies has been consolidated and amended by the Assurance Companies Act, the main practical effect of which is to extend to fire, accident, employers' liability, and bond investment insurance companies the obligation to mako a deposit of £20,000. Existing companies need not make tho _ deposit, and there are special regulations for Lloyd's underwriters, who must either deposit £2000 in respect of non-marine business, or fund all premiums and provide security.

West's Pictures, Ltd.. has a capital of £100,000, in shares of £1 each, to acquire the business of West's Pictures in Australia and New Zealand.

Mr. 0. Hamilton-WicUcs, the British Trade Commissioner in Australia, states that the trade between the United Kingdom and Australia expanded in 1909 in a greater proportion than the rest of the United Kingdom external trade. Imports from Australia increased from £29,070,000 in 1908 to -£32,649,000 in 1909, or by over .12 per cent., while exports of United Kingdom produce to Australia increased by £1,000,000, from £22,942,000 to £23,970,000. About two-fifths, both of the imports and exports, were consigned from or to New South Wales, and about. 30 per cent, from or to Victoria, the remainder being distributed among tho other States of the Commonwealth.

CUSTOMS BEVENUE. Customs revenue collected at Wellington yesterday amounted-to £3678 I,Bs. 2d. WELLINGTON MARKETS. Messrs. Leary and Co., Ltd, Wellington, report wholesale prices ruling on tho market:—Wheat, fowl, 4s. to 4s. Id.; feed oats, 2s. sfl. to 2s. 7d.; dun oats, 2s. 6d. to 2s. Bd.; seed oats, 2s. 7d. to 2s. ?d.; Algerian oats,. 2s. sd. to 2s. ,9d.; maize. 3s. 9d. to 45.; crushed malt, 75.; fowl barley, 2s. 9d.; Cape barley seed, 35.; flour, New Zealand £10 15s. to £11 56., Australian £11 10s.; peas, Prussian • olue, 6s. 6d., split £18 10s.; bonedurt. '£5 15s. j superphosphates, £5 to £5 55.; pollard, £5 ss. to £5 155.-, bran, £4 to £4 10s.; pearl barley, 155.; basic slag, £4 10s. to £5; chaff, (oatonshcaf), £4 10s. to £5; oatmeal. £11 to £11 10s.; potatoes, table, £3 to £6 ton; onions,'3s. fid. to 4s. 6d. owt.; molasses fodder, £5; bacon (factory), sides 63d., hams Bd., rolls Jh&.; butter, prime bulk, 9d. Poultry: Hens, 35.; ducks, 3s. 6d. to 4s. 6d. per pair; turkeys, gobblers, IBs. to 20a., hens lCs. to 145.; fresh eggs, Is. Bd. to Is. 9d.; preserved, eggs, Is. 4d. dozen; cheese, 53d. per lb.; loaf, 6Jd.; Akaroa machine-dressed cocksfoot, 6d. to 7d. per lb.; farmers' dressed cocksfoot, 4d. to sd. per lb.; 'ryegrass, 3s. 6d. to 4s. Gd. per bushel; Italian ryegrass, 3s. 6d. to 43. 6d. per bushel: white clover.

WOOL,' SKIN. AND HIDE SALES. Messrs. Dalgety and Company. Limited, report having held their usual fortnightly sale of wool, skins, hides, and tallow yesterday. They state:—We offered a large cataloguo of wool, skins, and hides to a good attendance of buyers. ' Prices for wool and skins were firm at, last sale rate 3, but hides were slightly easier, we quote:—Wool: Medium crossbred, Bid. to 9d.; coarse crossbred, 73d. to Bid.: lambs, 73d. to 83d.;'bellies, 5Jd. to 6Jd.; pieces, 63d.; locks, I}d.; crutchings, sd. to 53d. Skins: HUfbred, 9Jd.; medium crossbred, 73d. to Bid.; coarse crossbred, 6}d. to 7d.; lambs, 6Jd. to 73d.: dead. 6d. to 6id.: crossbred shorts, 55d. to 6Jd.; crossbred halfwool pelts, 3Jd. to 51d.; dead and broken, 6Jd. to 63d.; crossbred damp, 2s. lOd. to 4s. 2d.; lambs, damn. 3s. 4d. to 45.: pelts, damp, 2s. 2d.; lamb pelts, damp, Is. 6d. Hides: Ox, 64 t0..701b* 7d. to 7Sd.: 60 to 6311)., 6Jd. tb 6Sd.; 431b.," 53d. , Cow: 50 to 601b., 63d. to' 63d.; 40 to 531b.. 6d. to 6Jd. Calfskins, 83d. to 91d. Horse hides, Bs. Tallow, in shipping order, £24 to £27 per. ton; in tins, 225. 3d. per cwt.

The New Zealand Loan and Mercantile Agency Co., Ltd., report as follows :-At yesterday's sale we offered a largo catalogue of wool, skins, and hides to a fair attendance of buyers. Bids for skms and hides were <iuitc up to recent sales, and practically everything was. sold, but was a shade easier for coarse wool. Ve quote:—Wool: Merino medium, .to 9d. per lb.; crossbred,' coarse, 63d. to Bd.: lambs, medium, 7d. to -Bd.; lambs,, seedy, 4Sd. ,to 5d.; locks and pieces, 2d. tolid.: crutchings, 4Jd." to s}d. Sheepskins: Merino, inferior, 63d. to 7Jd.: half bred and fine crossbrod; Bid.' to 93d.; halfbrcd, coarco and medium, 7d. to Bid.; add skins. 53d. to 63d.; short wool, 41d. to 61d.; damaged pelted skins, 4d.' to 6Jd.; lambs, woolly, 7td.j. lambs, shorn, s>d. to. 6d.: green skins," 2s. to 3s. 7d. each; grcon lambs, 2s. to 2s. 10d/ Hides:' Cow and light ox, 6ld. to 7 0 a.; faulty and dry hides. 33d. to 63d.; calf, beGt, 8!d. to 83d;; calf, damaged, id. to 6jd. Tallow, in tins, 225. 3d: to 225. 6d. per cwt.; rough fat, 16s. per cwt.

~- Messrs. Murray, Roberts, and Co. , report:—Our catalogue yesterday . comprised 70 bales of wool, 3700 sheeoskins, 400 hides and calf, and some odd lots of tallow. Prices; for wool and. skins wore firm, at about last sale's quotations, while hides showed, some .little...tendency ..,to lower prices, although not' much chance can be reported.--.. Tallow, was. in.pood demand, at prices showinc an advance of Is. per'cwt:. for parcels in Rood shipping order. We ouote prices ■as below:—Wool: Crossbred fleece, 7Jd. to 83d.: lambs, Bd. to 9d.: lambs, seed, 63d. to 7Jd.; nieces, good bulky, 6d. to 7d.; pieces, fair,- 4»d. to' 5d.; locks. 2Jd. to 5Jd. Skins: Crossbred fine, nono offering; crossbreds, medium to coaTsc, 71dr to Bd. per lb.;'crossbreds. short to auarterwools,'6d. to 7d.; crossbreds, inferior pelted; Aid. to 6d.; crossbreds, badly daraaccd. l}d. to 3Jd;; iambs, woolled, 7d. t0.73d.; lambs, shorn, s}d. to 6id.;,eroer.,damn and salted crossbreds, 3s. to Is. 4d. each; crcen, damp and salted, .lambs shorn. Is. lOd. to 2s. 3d. 1 each; green, damp and salted, lambs woolly, 3s. 6d.,,t0 4s. 6d. each. Hides: Ox, medium to heavy, 7d. to 73d. per lb.: oi, light, 63d. to 7Jd.; cow, fair condition, 65d. rb ;7d.;'. damaeed hides. 3'jd. to 53d., bulls, stags; etc.. 4Jd. to 5Jd.: calfskins, medium, Bd. to 83d.: calfskins, inferior and damaged, 4d. to 73d. Tallow, casks, in Eood order. 255. 6d. to 275. per cwt.: oackages, tins, etc. 225. 6d. to 235. per cwt. ,

The date of next sale is Airil 22. Messrs. Levin and Company. Limited, re-, port:—We held our fortnightly sale yesterday. There was a good, attendance of. buyers. Woo!: NotwithstandinE the drop recorded in London at the. March sales they had most spirited competition for tho wool offeriw,', which consisted mainly of odd bales of heavy-conditioned crossbreds, and these bales realised 7Jd. to 9d. per lb. A line of seven bales fleece wool, of light condition, brought 10Jd. We auote:— Fine crossbreds, 9d. to 101 d.; coarse crossbreds, 7Jd.. to BJd.; lambs wool. 7id. to Bid.; piaios'and bellies, 4»d. to 6d.; looks, 2Jd. to 4Jd. Skins: Very few worthy skins wero offering, but, wc had a large catalogue of half wools and short wools, which met with strong demand at full prices. We quote:—Fine crossbreds, Bd. to 9d.; .medium crossbreds, 7d. : to Old.: coarse crossbreds, 7d. to 85d>; hogget skins. 6d. to 6id.;■ dead skins, 4d. to 6jd::.dead hoggets, Sd., to 6d.: lambskins, 6Jd. to 73d.; Quarter to halMvools, 4d. to 6}d.: dry pelts,. 2id. to 6Sd.; green pelts, 3s. to 4s. 4d.: lamb pelts. Is. 6d. to 2s. 3d. Tallow: Very firm. Parcels, in shinping order, £27 15s. Tins, £20 to £23 ss. " Itouch fat. £10 to £17. Horsehair, Is. to Is. 4d. nor lb.' Horns, £s. to 15s. .per hundred. Cowtaila, Is. sd. per dozen. Hides: We brought forward a good catalogue. All lots were eagerly competed for,,but the high prices ruling at last 6ale were not maintained, and prices receded 3d. all round. Calfskins were a penny easier. We auote:—Ox hides, heavy, 7d. to 7*d.; ox hides, medium, 7d. to 78d.; ox hides, light, 6id. to 7Jd.; cow hides, 6»d. to 74d.; cut and slippy hides 4rt. to 6Jd.; i stag hides, 4d. to 58d.: bull hides, id. to 55d.; yearlings, Sd. to 63d. ; calf, best, 7d. to BJd.; calf, medium, 6d. to 7d.; calf, cut and slippy, sd. to 6d. Our next' sale will bo held on Friday. April 22. ■

• METAL MARKETS. By Telegraph-Press Associatlon-GopyriEhl London, April 7.' Silver 16 quoted at 24d. per ounce standard. Copper.-On the spot, £58 2s. 6d.; thiev months'. £59 55.; electrolytic, £61. Tin.-On the spot, £150 2s. 6d.; three months', £152 ss. WHEAT. An Australian cargo of wheat sold at 395. 9d. AUSTRALIAN PRODUCE MARKETS. Sydnoy, April 7. Wheat, 4s. Id. to 4s. l»d.; flour, £10 ss.;' oats .Algerian feeding 2s. Id. to 2s. 2d. milling 2s. 4d. to Zs. 5d., white, 2s. 6d.; barley, Cape feeding 35., seeding 3s. 2d.; maize, prime 3s. 2d.; bran and pollard, £4 10s.; potatoes, Tasmanian £5 10s.; onions, £3 10s. to £4; butter, 1045.; cheeso, 5Jd.; bacon, 81d. Melbourne, April 7. Wheat, 4s. lid.; Hour, £10; .oats, Algerian feeding 2s. Id., milling 2s. 2d.; barley, prime English, up to 4s. 4d., Capo 2s. Bd.; maize, 2s. Bd.; bran, £5; pollard, £4 155.; onions, £3; potatoes, £3 10s. to £4 15s. Adelaide, April 7. Wheat, 4s. 21d.; flour, £8 12s. 6d. to £0 17s. 6d.; bran, 13d.; pollard, 13Jd. HIDE SALES. Melbourne April 7. At the hide sales supplies wore largor and prices id. lower for all classes. LONDON MARKETS. Messrs. Dalgety and Company, Limited, report having received the following cable messages from their London house, under date of April 7:—Fro7.cn Meat: The demand for all descriptions of frozen meat is less, having been nu'cr.lct! by unfavourable weather. Prices for frozen mutton, of whicli stocks are small, uro from /,d. to Jd. lower, but recovery is possible. Prices for lamb, whioh looltß as U it has touched ton, ore this week id. lower.

For beef, any change in prices is in favour of buyers. Thero are heavier supplies of chilled coming forward, lluyers generally are holding back," expecting to do better later on. Tallow: Since our last wire, present prices, which .are, about at the parity of recent c.i.f.- sales, are Is. 6d. higher. BANK OF ENGLAND EETUEN.' By Telegraph—Press Association—Copyright.' London, April 7. The Bank of England return issued for tho week ended Wednesday April C, is as under:— . Issde Department. Note Issue- £50,177,000 Gov. debt ~. £H,015,0M Other securities ;.. 7,434-,000 Gold . „ 32.028,000 £50.«7,0M «0,477,C00- . . ■ . Baotinq Department. Proprietors' .Govt, securicapital £14,553,000 ties... ... £18,475,003 Public do- • Other socuri-' posits ... 10,673,000 ties... ... 33,083,000 Other deposits ... 46,564,CC0 Notos ... 31,545 000 Best, 7-day and other Coin ... „ 1,220,000 bills 3.133,000 £75,223.000 £75,223,000 Tho leading items of;tho Bank of Eng. land return afford the following comparison :— This week. Last week. Last year £S ■ £ Bullion ... ... 33,028,000 88,2£6,000 37,011,000 Eesorve 22,765,000 23,299,000 - 27,915,000 Kote circulation 28,932,000 28,7(0,000 30,008,000 Public Deposits 10,673.000. 8,680.000 14,233,000 Other Deposits 46,604,000 43,110,(XW . 44,624,U00 Proportion of ■ reservo -to : liabilities ... Sp.'OS 41.81 17,93 GOTEENMENT SECURITIES. The following' aro the latest quotations for Government securities, with a comparison of. thoso ruling last- wecK 1 :—

•'. BANE.EATES OF DISCOUNT. ' - Tho Bank of England discount . rate, was raised on October '7 last .from'.2s to 3 per, cent., on October 14 to" 4 per cent., on October 21 to 5 per cent.; on December 9 was reduced to 4J per cent., en January 6 to i per, cent., on January 20 to 31 per cent., and on February 111 to 3 per cent. On March 17 it was raised to I per. cent., at which figure it still remains) The Bank of France rate. was reduced from 3i to 3 per cent, on January 23, 1908, and. remains at the latter figure. The Imperial Bank of Germany,-' on September 20, advanced its, rate of discount from 31 to i per cent., and on

October 11 to 5 per cent., lowered same on January 21 to -ij per cent., and on February 10 to i per cent. MARKET RATES OP DISCOUNT. The following aro the mafket rates for best three months' bills:— London Paris Berlin rate rate rate per cent, per cent, per cent. April 7 3 13-1G 2i. ' 3 Last week 3 11-16 2}' '3} Last year Is lj 2 Short loans in London are J higher at 3J per cent. COLONIAL AND OTHER PRODUCE. Wheat;— The markets aro steady, with, a fair business and Some Continental inquiry. A cargo of Australian and 12,000 quarters (96,000 bushels) sold at 395. Cd. per quarter. : Holders are asking 395. 6d. per sailer, April shipment, 395.-3d. February shipment, parcels afloat. There is a small retail demand for Australian _on spot. There is nothing doing in New Zealand wheat, which is quoted at 355. to 355. 6d. c.i.f., April-May steamer. Flour.—There is nothing- doing. Spot supplies are exhausted. Sales at Glasgow, May shipment, at 295. 9d. landed. Oats.—There is a poor demand, and prices are about unchanged. A quality, gartons, at ISs. 3d. to 18s". 9d. c.i.f., April shipment; La Plata, April-May shipment; Us. 3d. ■- Butter is very firm, and there is excellent demand. Tho Ost-erley's consignment has been all cleared at late rates for choicest New Zealand, due Saturday. • Sugar.—German beet, SSdeg., Is. higher, at Us. Bd. per cwt.; first mark granulated, f.o.b. Hamburg, Id. higher at lGs. lOd. Bradford Tops.-Tho market is very firm.: Sixty-fours 253 d., other counts unchanged. . THE METAL MARKETS:; Copper, on spot, 7s. Cd. lower, at .£57 ISs. 9d. per ton; three months, 6s. 3d. lower, at .£59. Tin, on spot, 325. 6d. lower, at .£l5O 7s. Gd.,per ton; three months, 30s. lower, at J&IS2 10s. Lead, .812 15s. per ton. Pig-iron, 51s. Gd. ptr ton. Spelter, ,£23 per ton. AUSTRALIAN WOOL CLIP. By Telegraph—Press Association—Copyrieht 1 -Sydney, April 8. • Tho last New' South Wales wool clip yielded 975,000 bales, valued at thirteen .millions, „,„:„„, . . ■' The Australian yield was 2,375,000 bales, valued at 32$ millions. . • A •DTJNEDIN BUSINESS... (By Telegraph— Press Association.!' Dunedln, April 8. ' Messrs. D. Benjamin and Company, wholesale merchants, have disposed for cash of their business to tho Australian Assets Company, o£ Melbourne. . MINING. ' f 1 Mining News will be found on page 7 of this issue. . . .

. Variations . "... Price.- ; r : last week. £ s. a. 21% Imperial Consols 81 5 II 5s. higher 4 ..N.S.W.lOSSJau.July 107 0 0 Unchanged 3j„N.S.W.191S.5iar.-Sep. 9S10 0 Unchanged 3 ;,N.S.\V.1335Apl.-Oct. 87 10 0 . Unchangod 4 „ Vic. 1920 Jan.July 103 10 0 Unchangod 35 „ Vic. 1921-6 Jan. July .03 12 6 2s. 6d. higher 3 „ Vic. 1929-49 Jan. July > 66 10 0 Unchanged 3j „ S,A. 1916 Jan.July 93 7 6 7s.lid.higher 3 „S.A. 1318 Jan. July 64'10 0 Unchaugod 4 „QTdl915-24 Jan. July 104 10 0 10s. higher Si „QTdl924-30Jan.July S7 I) 0 cOs. lower 3 „ Q'l'd 1922-47Jan.July . 37 0 0 Ms.highor i „ N.Z. 1920 Nay-Nov. 106 10 0 . Unchangod 31 „ N.Z. 19-10 Jan.July 97 IB '6. Unchangod 3 „N.Z.194f.April.Oct. 87. 0 0 Unchanged 3l„'W.A.19aH0May-Nov 07 10 0 ■ .-SOa.lowor 3 „'W.A,1915-35May-Nov 6710 0 ' 80s: lower 31 „ Tas. I9iOJan.July 98 0 0 lOs.highor 3 „ Tas. 1920-40 Jan.July 86 10 0 Unchanged