COMMERCIAL ITEMS.

Dominion, Volume 3, Issue 841, 13 June 1910, Page 10

COMMERCIAL ITEMS.

INVESTMENT SHAKES. .Sales of New Zealand Loan and Mercantile at 12a. 9d. and Manning and Co. at £4 wore recorded on Saturday. National Bank, buyers £5 18s. 6d.; Metropolitan Building, buyers £12; Wellington Trust and Loan, buyers £7 55.; Wellington Deposit, buyers Bs. 2d.; National Mortgage, buyers £3 45., sellers £3 65.; New Zealand Loan and Mercantile, buyers 12s. 6d.; New Zealand anil lliver Plate, buyers £2; Wellington Gas, £10 paid, buyers £18 2s. 6d.; £6 15s. paid, buyers £13 7s. 6d.; new issue, buyers £2 10s. premium;. Standard Insurance, buyers £1 45.; Christchurch Meat, buyers £12 17s. 6d.; Gear Meat, £4 paid, buyers, £10; £1. paid, buyers £2 135.; Meat Export, £5 paid, buyers £6; £4 paid, buyers £5; £2 12s. 6d. paid, buyers £2 155., sellers £3; Wellington Woollen, preference, buyers £2 95., sellers £2 10s.; Hikurangi Coal, buyers 195.. 6d.; Taupiri Coal, buyers 19s. 6d.-, Westport Coal, buyers £6 7s. 6d.; D.1.0., preference, buyers £1 25.; Lcyland-O'Bricn Timber, buyers £1 4s. 9d.; Manning and Co., buyers £4; New Zealand Drug, buyers £2 7s. 6d.; Taranaki Petroleum, buyers-125.; Ward and Co., buyers £4 16s. 6d. EASTERN TELEGRAPH. The directors of the Eastern Telegraph Company, Ltd., announce that the accounts for 1909 show that after making a contribution to Uio general reserve fund, payment of interest on the 4 per cent, morv gage debenture stock, dividend on tho 3J per cent, preference stock, and three interim dividends of £1 ss. per cent, each on tho ordinary stock to September 30 last, there is a balance available out of which the directors recommend the payment of a final dividend of £1 ss. per cent., and a bonus of £S per cent., both free of in-come-tax, making a total distribution of 7 per cent, nn the ordinary stock for the year. HOME BOOT TRADE ACTrVTs. British boot and shoe manufacturers are having their share of the rise in prosperity. The export trade in leather boots and shoes has for the past ten years shown a very satisfactory development. During 1909 the exports of these goods' wore by far the largest on record, both as regards quantities and values. In that year .no fewer than 10,089,960. pairs were exported, which was 623,904 pairs more than in the previous record year, 1902. and 647.664 pairs better than in the good year 1907. Moreover the. recent monthly returns of the Board of Trade seem to indicate that tho export business in these articles is entering on something very' like a boom, for the first three months of 1910 show an enormous improvement on tho first quarter of the record yo;ur 1.109. Tho exports for the first quarter of tho year havo been 2,394,336 pairs in 1908, 2,459,484 pairs in 1909, and 5,053,832 pairs in 1910-an increase of 594,348 pairs in 1910, as compared with 1909. This rate of increase, if continued, will mean an improved export trade of 2,370,UC0 pali» Cor this veai uver last. In 1901 it was thought that the Americans would capture the shoe trade of Great Britain, for tho bet importation for that year was 3,302,064 pairs. The stimulus of increased imports braced up British manufacturers; American methods wcro studied, American machinery was obtained, and tho stylo and finish' of, the goods turned out wero vastly improved. The-re-, suit was apparent in 1902, when the not imports fell awa yby 623,040 pairs from the high water' mark of 1901. In the succeeding year 1903, there was a. further fall of 92,352 pairs, and in 1904 another drop of 300,408 pairs—a decreased importation in three years of 1,015,80 D pairs. By 1909 tho net imports had shrunk to 2,057,964 ■ pairs, or 1,244,100 pairs lower than they . wero in 1901. At the same' time the exports had grown largely, from 8.142,516 pairs in 1901, to 10,089,960 pairs in 5909. RUBBER SPECULATION. : No abatement was noticeable in tho Lon-' don rubber share, speculation at the timo when the last mail left, and all classes of the community were participating. What are known as "Penny --Bazaar" companies offered a medium for speculation .'within the means of tho. humblest investor. Ladies are reported, to havo embarked eagerly upon'a speculation in which they could buy 100 shares for the price of a new' hat. Stock Exchange values, of course, show enormous expansion, the aggregate appreciation of ten representative companies selected by the "Bankers' Magazine", being £2,272,000 on the month ended April 20. Thcso companies havo a .nominal, capital of £1,313,000 and a market value of £18,512,000. '' ■'' THE' WOOL' 'jIAEKET. > Writing with respect to the' May wool sales,' the London ■ correspondent of the "Molbourne Ago"- says;—" Crossbred ■ descriptions of all 6orts have, of. course, bulked largely in tie daily offerings. 1 . So far the New Zealand greasy' shipments havo been mainly from the South. Island, and tho condition of these compares very unfavourably with tho wools which como forward earlier in the year. Thero has been scarcely any buying of crossbreds for shipment across the Atlantic, but, even hail America, been extremely : anxious to purchase, very little ' wool has thus far been seen which could have stood tho imposition of a'5J-,per' lb'.' duty. Not muclr disposition ,hn«,, bcen : , shown by, the Conti : . nent of Etirbpo to . purchase greasy crossbreds," so' that' tho burden of sustaining the nmrkct haebcen borne by the Homo trade.- Some parcels of high breed and. lino quality havo been taken by Germany and Prance, also a few- fine - and- medium slipcs and a few scoured crossbreds by the first mentioned. Prance, at times a very considerable user, of the coarser fibred raw material, mainly confines its operations just now to iHmbs, which can be bought a little cheaper than in March, and in greasy pieces and bellies, also to odd lots of inferior- scoured and- sllpe. Except in the' o*o of poor bred and very wasty parcels, tho final rates of the" previous sales are maintained for all fine qualities, and medium grade wools also rarely show any fiviug way. Subsequent to the opening ay the competition for the coarse bright descriptions rather increased, with the result that tho 5 per cent, decline is less frequently apparent, and chiefly affects those parcels which have' undergone little or no Blurting, which are in .doubtful condition, or which contain a large quantity of docksced. Scoured crossbreds generally show very little easing from the high rates current in March, despite the fact that they are in much more abundant supply than on that occasion. Slipo wools do not come forward quite so freely as the trade expected, nor as the quantity seen in tho opening catalogue presaged, and,, as a whole, they arc selling a trifles better than they did on the first' day."

CUSTOMS EEVENTJE. Customs revenue, collected at Wellington on Saturday amounted to £883 17s. 2d. The total for the week was £8306 9s. 6d., beer duty amounting to £215 6s. BANK OF ENGLAND RETURN.. By Telegraph—Tress Association—Gopyrleh*. 1 London, .June 10. . The Bank of England return issued for tho week ended Wednesday, June 8, is as under:— • Issue Department. Note ißtno... £58.767,000 Gov. debt ... £11,015,003 Othor securi- „ ties ... 7,434,000 Gold ... 40.335.000 i55.787.0M i 57.787.000 Banking Department. . Proprietors' Govt, securicapital £14,553,000 ties £17,184,000 Public de- Other securiposits ... 24,932,000 tieß 31,130,000 Other deposits ... 37,587.000 Notes ... 30,780,000 Rest, 7-day and other Ooin ... 1.161,000 bills 3,183,000 £80,355,000 £50,255,000 The leading items' of the Bank of Eng. land return afford the following comparison:— This week. Last week. Lastyeay £ £.. £ Bullion 40,338.000 39,312,000 36,744,000 Hoserve 31,011,000 30,517,000 -27.367.CW) Note circulation 28,007,000 28,376,000 23.40J.000 Public Doposits 24,032,000 -23,037,000 13,865.000 Othor Doposits 37,537,000 37,103,000 42,311,000 Proportion of reserve to - liabilities ... 61.07 50.72 '48.70 GOVERNMENT SECUItITIES. The following are the latest quotations for Government securities, with a comparison of those ruling laßt week:—

BANK BATES OF DISCOUNT. Tho Bank of England discount rate waa raised on October 7 last from 25.t0 3 per cunt., on October 11 to 4 nor cent., and on October 21 to 5 per cent. On December 9it was reduced to 4J per cent.; on January 20t03j per cent., and on February 10 to 3 per cent. On March 17 it wits again raised to 4 nor cent., on June 2 it was reduced to 3! per' cent., and on Juno 9 to 3 per- cent

Tho Bank of Prance rate was reduced from 1 35 to 3 per cent, on January' 23, 1908, and remains at the latter figure. The Imperial Bank of Germany, on September 20 last, advanced its rate from 3i to 4 per cent., and on October 11 to 5 per cent.; lowered same on January 21 to 4a per cent., and on February 10 to 4 per cent. MARKET RATES OP DISCOUNT. Tho following arc the market rates for best three months' bills:— London Paris Berlin rate." rate. rate. percent, percent, percent. June 9 28 2i 3J Last week 31 2J 31 Last year 2 2 21 Short loans are 3 per cent lower at 3 per cent. COLONIAL AND OTHER PRODUCE. Wheat.—The wheat markets generally are steady, but there is a disposition to sell. Cargoes of Adelaide and Victoriau January-Pebruary shipment arc offering at 3s. 6d. per quarter; New South Wales, February, 32s 3d.; parcels afloat, 325. The spot market is quiet, at about 355. Chicago, July, 94! cents to 95} cents. Flour is flat. Good patents arc procurable at Glasgow, cither spot, passage, or shipment, at 255. 6d. Oats are quiet. La Plata, afloat, JuneJuly, 12s. 9d. Butter is quiet: , The colonial market is firm, owing to small arrivals. Choicest Australian, 100s. to 104s. per cwt.; New ■Zealand, 108s. Secondary qualities are neglected. Sugar—German beet (88 per cent.) is quoted at 14s. 7d. per cwt.—ld. higher than last week; first marks .granulated, f.o.b. Hamburg, unchanged at 16s. lOd. Kauri Gum—At the kauri gum sales 569 cases were offered, and 400 sold at full rates. Thcree-quarter scraped realised 1525. 6d. to 1355. Bradford Tops.—Business is limited, and prices are firm, especially for fine grades. Forties, 15d.; forty-sixes, Jd. lower at 17d.; common sixties, 27Jd.; super sixties, 281 d.; sixty fours, 29J. THE METAL MARKETS. Copper, on the spot, £55 is. 3d. per ton;-threo months, £56 13s. 9d,; electrolytic, £55. ■ ■ ■ . Tin—Spot,. £148 7s.- 6d. per ton: three months, £149 10s. Lead, £12 7s. 6d. per ton. .-' Glasgow pig-iron, 495. lid. ' per ton—2Jd. lower. LONDON. MARKETS. By Telegraph—Press Association—Copyright i (Rec. June 12, 5 p.m.) London, June 11. Hemp is quiet and unchanged. Copra is dull. South Sea, iu bags,'£22 15s, ' Cotton'.—June-July shipment is quoted on the Liverpool Exchange at 7.75 d. Wheat.—Excellent crop prospects arc reported from the whole of tho Canadian North-West. THE METAL MARKETS. By Tclegrapn --i'rcs.,'AssncinUon-Oo?rr!Ent (Rec. June 12,. 5 p.m.) London, Jnne 11. Copper, on. spot, £59 Bs. 9d. per ton; three months, £56 25.. 6d.; electrolytic, £58 10s. Tin,'on'spot, £148 10s. ! per ton; three months, £149 15s. . Lead.—lmports, 17,293 tons; including 4000 ions from Australia; exports, 6295 tons. FROZEN MEAT. The New. Zealand Loan and Mercantile Agency Company. Ltd., have received the following cablegram from their London house, under date June 10:—"Frozen MeatMarket quieter, frozen, mutton; frozen lamb; market has declined, frozen beef. (sides); FRUIT AND PRODUCE. The.i New Zealand.Fruit and Produeo 00., Ltd., report as follows:—During the week tho potato market has -been animated, prices ■ ruling' high, and seem likely to continue so. . Produce continues about tho same as previous week. Pears and dessert apples are scarce, and values' are .high. Eggs ■ arc much ' easier. Walnuts- are ' inquired for, also good white honoy. Tho following are, the current prices for the week:—Potatoes, 6s. 9d. to 7s. 6d. cwt.,onions, 4s.- to 4s. 6d.' cwt.; swedes, 2s. cwt.; turnips'," 2s. '9d. to '3s.'. 6d. , 'sack; caulk flowers,. ss. 9d.. to lis. 6d., sack; .marrows,. Is. to. is. 6d.. sad;;, lettuce, ,;ss. -to, 65.. 6d. case;'carrots;' 3s. to 557 sack';".parsnips, ss:' 6d. to'7s. 9d.'sack;' beetroot, : 3s; : to 4s. 3d. sack; cabbage, 1b.,6d. to ss. sack; French beans, 3s. to 10s. sack; broad beans., je. to 4s. 6d. sack; spinach, 3s. to 3s. 6d. case; apples, cooking, 3s. to'ss. case; apples, dessert, Bs. to 9s. 6d.' case; passion fruit, 7s. 6d. box;-oranges, Island, 6s. 6d. to 9s. case; pears, cooking, 6s. to 7s. case; pears, dessert, 13s: to 15s. 6d. case; bananas (case),' 15s'. , 'tK.''ies.-6d:' case; pines, Bs. to 9s.' case; ■ lemons. Messina, lis. 6d.. (ISO); lemons, Sydney, 6s. ( to, 7s. .case; ; Cape gooECberrics, eggs,'fresh, Is.'Bd. doz.; eggs, preserved, Is. 2d. dozen; chaff, -£5 ss'. to £5 155.;: oats, A grade'Gortons,- 2s. .3d. .bushel; bran, 9s. per sack; wheat, 4s. to -4s. 3d. bushel; straw, 25., to 2s. > 3d. -bale; rice, 6s. '6d. mat; pollard, £5 15s. ton; peanuts, 20s. 6d. sack; duck% 4s. 6d. to 6a.- pair; hens, 3s. to 3s -.6d. pair. KEILLER BROS.' SALE. The clearing sale held on ; account of Messrs. Kcilier Bros, brought-together, a very largo number of buyers, from all parts of the North Island. Fortunately, the weather was fine, though dull, and the! day's -work was got through without a hitch. The stock was in fine order, and was generally admired, though the stud sheep suffered in' price materially, owing to their not-being entered'in-the "New Zealand rFlock Book.'V Tho ;nrflt, line, submitted was 600 six-tooth, ewes, 'which were aurchased by Messrs. Marson and tbo on. J. H. Ormoud at 19s.'to'20s.; 315 twotooth wethers, 133. 7d. to. 13s. 10d.; 950 two-tooth ewe.-; 15s. 6d. to 16s. 7d. Stud ewes: 60 two-tooth, £2 155.; 70 four and six-tooth, £3 to £3 2s. 6d.; 39 stud ewe lambs, 325. 6d.; 50 stud ram lambs, 375.; 800 wether lambs, Bs. 2d. to Bs. 6d.; 1000 owo lambs, 9b. 10d.; 180 .fat-and forward ewes, 10s. 7d.; 81 mixed aged ewes, 16s. Id.; 630 four-year owes, 16s. 9d. to 17s. Id.; 700 four-tooth ewes, 19s. 3d.;-1200 prime fat wethers, 17s. 9d. to 18s. 2d,; 500 forward wethers, 14s. Sd.; rams, 365. to 45 guineas: culled lambs, ss. Id. Cattle: 150 Polled Angus: breeding cows, £s'" 10s.; 22 fat Polled Angus cows, £7; 59 woaner heifers. .£3 35.; 37 weaner steers, £3 25.; 50 2j to three-year steers, £6 Es.; 62 18-montha heifers, £5; 10 purebred weaner heifers, £5 2s; 6d. to £5 lis.-; 16 bull, oalves, 3} to 17 guineas; 34. purebred bulls, 4 to 30 guineas; 50 purebred cows. £5 7s. 6d. to £7 Bs.; 17 stud cows, 4 to 111 guineas. Dairy cows, implements, grain, • etc., were sold on Thursday and realised good prices.

FEILDING MARKET KEPOET. Messrs. A. H. Atkinson and Co.; Ltd., report a small yarding of piss, owing to. weather, conditions. liSome good baconers made up to 40s. Poultry was also in short supply. We sold a quantity of general sundries, produce, etc. A very successful clearing sale was held during the .week. Quotations:—Hacks, to £6. Pigs: Slips, to lis.;; porkers and baconers, from 30s. to 40s. Poultry, at each: Hens, Is.; rootsers. 2s. 6d.; ducks. 3s. 9d. Produce: Bran, 55.; barley, to 3s. 3d. bushel; wheat, 4s. to 4s. 9d.; chaff, 4s. sa<:k; potatoes, Bs. to 30s. 6u.; pig do., 4s. to 4s. 3d.; onious, 2s. per 251b. bag; marrows. !s 4d. to Is. 9d. sack; Nelson dessert apples, 2d. per lb.; pie-melons, Is. 9d sack; factory bacon, sides, 7d.; hara6, Bid.

' MINING NEWS. : Mining News wiU bo found on page 9 of this issue.

Vai-iutions Prioo "'"paiod with la»t week. £ >. d. ' 2J% Imperial Consols « S 0 12s. Gel, lower 4 „N.S.W.1933,Tan.July 105 0 0 Unchanged 3J „N.S.W.19I8.Mar.-Sop. 93 17 0 Unchanged 3 „S.S.W.1935Apl.-OQt. 88 10 0 Unchanged 4 ,. Vic. 1920 Jan. July 10110 0 Unchanged 35 „ Vic. Wil-GJan.July 9S U 0 Unchanged 3 „ Vic. M'29-19 Jan. July 65 10 O iis.lowor 35 „ S.A. IMG Jan. July 99 0 0 Unchanged 3 „S.A. 1016 Jan. July 85 0 0 10s. higher 1 „QTdl915-21Jan.July 102 0 0 Unchanaod 35 „<JTdUM-30Jan.July Si7 10 0 Uuchangod 3 „ CJ'l'd l&lMTJan. July 85 10 0 Unchangod •l ,. S.'i. 1920 May-Nov. . 106 10 0 Unchanged 34 „N.Z. 1910 Jan.July 1)0 10 0 Unchanged 3 ,.N.Z.l!ll-Aiiril-Oct. 67 10 O Unchanged 3i „ W.A.10 ».-10 May-Nov 97 10 0 Unchanged 3 „ W.A,l!)li-a May-Nov 87 10 0 Unchanged 35 „ Tas. llMOJan.July 93 0 0 Unchanged 3 ., Tas. 1920-10 Jan.July 85 10 0 Unchanged