COMMERCIAL ITEMS.

Dominion, Volume 3, Issue 846, 18 June 1910, Page 8

COMMERCIAL ITEMS.

INVESTMENT SHARES.'• : Tho only business recorded yesterday was a, salo of Ward and Co. Brewery, shares, at £4 18s. 6d. National Bank, buyers £5 195.;. Metropolitan Building, buyers' £12; Wellington Trust and Loan, buyers £7 75.; Wellington Deposit, buyers Bs. 2d.; National Mortgage, buyers £3 4s. 6d., sellers £3 65.; New Zealand Loan and Mercantile, buyers 12s. 6d.; New Zealand and River Plate, buyers £2; Feilding Gas. sellers £1 2s. 6d.; Gisborne Gas, sellers £2 125.; Napier Gas, £5 paid, buyers £12 55., sellers £12 ,10s.; Palmerston North Gas, buyers £7 155.; Wellington Gas, £10 tin id, buyers £18 55., £6 15s. paid, buyers £13 7s. 6d., new issue, sellers £2 10s. premium; National Insurance, buyers £1 95., sellers £1 9s. 9d.; Standard buyers £1 45.; Gear Meat, £4-paid, buyers £10, £1 paid, buyers. £2 135.;- Wellington Woollen, preference, buyers £2 95., sellers £2 10s.; Taupiri Coal, buyers 19s. 6d.; Westport Coal, buyers £6 95., sellers £6 10s.; D.1.0. preference, buyers £1 2s. 3d.; Leyland-o'l3rien Timber, buyers £1 55.; New Zealand Drug, buyers £2 Bs.; New Zealand Paper Mills, sellers £1 2s. lOd.; Taringamufcu Totara, buyers £1 75.; Ward and Co., buyers £4 18s. 6d. OOJtPANT FLOTATIONS. , April was a busy month for tho company promoters in London. The rubber and oil booms were- in their full vigour, 1 and tliough tho markets havo had an oc- ; casional shako out, this seems to have j exerciscd absolutely no influence on the ; rate at which new ventures were offered j to the public. The flood of fresh enter- : irises, was so great that the reauircments j of existing concerns which hitherto havo ! held their own to a striking extent havo ! had to play quite a subordinate part. ; Public borrowing had dwindled to insignificant dimensions, and the whole attention of investors and speculators was concentrated on tho rubber and oil industries. 1 The phenomenal character of the month's record can best be seen by comparing it with tlio April figures of several years, tho authorised, and not merely the issued, capital of new ventures being included:— No. £ 19D5 i, 40 19,998,500 1906 46 -28,601,800 1907 • 26 16,269,200 • 1908 36 21,791.800 1909 50 16,1C0,200 1910 172 . 45,286,C00 • The amount in April, 1901, was £65,966,700, but of this £60,0C0,0C0 represented Consols loan in that year; thus the achievement of April, 1910, has never been beaten and scarcely approached before in any corresponding period. AUSTRALIAN AND N.Z. MORTGAGE. This concern is steadily liquidating, and like many other of the land companies which have operated in Australasia has beeu compelled to take this step. Tho process of liquidation, is shown in tho following table:— Properties Loans, on hand. Debentures. £ £ £ 1903 97,000" 450,000 518,000 1904 50,000 445,000 489,000 1905 54,CCD 426,G00 475,000 • 1906 47,000 303,000 443,C00 1907 9,000 ' 349.00 D 372.C00 1903 2.C00 280.CC0 292,000 1909 600 246.000 279,000 TRAMWATS AS MERCHANDISE CARRIERS. In Great. Britain the tramcar is a serious competitor of the railways for tho carriage of parcels and merchandise. Tho Bradford Corporation Tramways aro perhaps the most successful of the lines with merchandise-carrying powers, and aro entitled to-convoy parcels weighing up to • 561b., although 141b. is the maximum weight usually-taken. The corporation is also entitled to convey all descriptions of goods and minerals on certain sections of line, which powers are, however, not exercised, and arc in any case more or less nullified by tho prohibition to hacdlo this traffic on other suctions.' In its Bill for this session the .corporation therefore sought to obtain power to carry goods on its entire tramway system, as well as on any "trackless trolley" lines that may bo laid down in future. A trackless trolley service, it may bo explained, is a service of electrieally-drivcn motor vehicles which do not ruu on rails, but take current from overhead wires in the same manner .as the ordinary tramcar. Several lines of tho kind are in operation on tho Continent, and apart from tho economy of dispensing with rails, they are of value in determining whether it would eventually pay to lay down a tramway of the usual pattern. The three railway companies serving Bradford at first, opposed the granting of these powers, but their objections were met by tho insertion of a clatiso confining the gootfs and mineral carrying power to traffic arising iu and consigned to places in the borough. The Local Legislation Committee of the- House of Commons has also sanctioned tho operation of a trackless trolley 6ervico on

ono route, about a mile and a quarter in length, but tho powers aro confined to the carriage of passengers and of parcels not exceeding 561b. in weight, whilst the comprehensive powers for the conveyance of goods and minerals havo . not been granted. CUSTOMS REVENUE. Customs revenue collected at Wellington yesterday amounted to £1703 10s. 9d. WELLINGTON MAIiKET BEPOBT. Tho New Zealand Farmers' Co-operative Distributing Company report as under:— As anticipated in our previous reports, tho tucro is a prospect of a sharp lull in values. Australian supplies are now reaching here, aud will to bring this about. Wo advise our clients reuuir:ng scud to hold on' for a lew weens, pending developments. Onions are unchanged. Of voKcialiles, ca-uoage. turnips, lettuce, and spinach are all in excellent demand, while marrows have improved, and pumpkins and carrots show easier values. We recommend shipments of pio melons. Uotboiiso tomatoes are still in exceptionally Ui'on demand. Dessert apples advanced considerably, a≤ al£o havo all varieties of cookers, except lipps's Seedling, which show a slight advanco only. Pours are in great demand, as also grapes. Poultry is now showing an advance, and the market displays a much better louc. lisgs havo weakened slisrbtly, but. aro still in good demand. Chaff has weakened in sympathy with tho decline in oats, and very littlo bnsilics.-i is beinc done. Potatoes, priino Up-w-Dates £7 to £7 IDs, par ton, seed, specially selected, Canterbury Up-to-Datcs £8 per ton: onions. £4 to £4 10s. per ion; garlic, 3d. per lb.; cabbage, choico ss. to fts. 6d.. ordinary lb. to 2s. per sack; cauliflower, choico 6s. 6d., others 3s to 4s. per sack; carrots, nutt, 6d. doz.; turnips, white, 6d. doz.; swedes. Is. to Is. 6d..per sack (market glutted); vegetable marrows, Is. to 2s. per sack; pumpkins, 2s. 6d. to 4s. sack; pie melons,' 3s. per ailck; lettuce, choice 6s. to 7s. 6d., fair 2s. 6d. to -4s. per case; spinach, best, 3s. to .33. 6(1. per case; French beans, Bs. 6d. per half-sack; spring onions, Bd. doz. bundles; tomatoes, hothouse, 14s. 6d. per small '2s. to 3s. 6d. case, dessert, well coloured 7s. to 9s. 6d., others 4s. to ss. 6d. per case; pears, dessert 10s. to 15s. 6d., cookers, largo 4s. 6d, to ss. 6d., small 3s. Cd. to 4s. per case; grapes, best Hutt Is. 6d.; best Nelson Is.' 3d. per lb.; butter, soparator 10d., dairy 9(d. per lb.: cheese, best factory mediums 51d. to- sid. per lb., loaf 6id. k> 7(1. per lb.; dressed pork. 70's to 90's 43d., 90's to 100's 4Jd.; baconers, 4d.; choppers (heavy), 2d. to 23d.: eggs, fresh Is. Bd., preserved 16. 2d. per doz.; bacon, factory sides 7d., rolls 7id., hams 8;d. per 11).; honey, 4d. to 4Jd. per lb., beeswax, Is. 4d. to Is. 6d. per lb.; f uncus, keen demand, at, sjd. per lb', walnuts, ,sd. to Sid. per lb.; tallow, tins. 225. cwt.; poultry, cockerels ss. 6d.. to 6s. 6d. for •rood birds, small 3s. 6d.; table roosters 4s. to 55., table hens 3s. 6d., small 2s. 6d.; ducks, large ss. to 6s. 6d., small 3s. 6d. por. pair; turkey gobblers 9d. per lb., hens Bd, nor lb. livo weight; maize, 3s. 6d. to 3s. 9d. per bushel; wheat, 3s. 9d. to 4s. per bushel, seconds 3s. 6d. per bushel; barley, feed os. 3d: per bushel, Capo 3s. 6d. per bushel; horse beans, 4s. 6d. to 4s. 9d. per, bushel; partridge peas, ss. per bushel; Prussian blue peas, ss. 6d. per bushel; barley ineal, £5 10s. per ton; pollard, £6 10s. per ton; bran, £4 10s. per ton; chaff, oatensheaf, £5 to £5 15s. per ton; hay, prime, £5 15S. tn £5 ss. per ton; straw, wheaton £2 7s. 6d. per ton, oaten £2 ss. or ton; linseed oil cake, genuine, £13 ncr ton; oats, fend 2s. 6d. to 2s Bd. per bushel, seed, sparrowbills. gartons. duns 2s. 9d.. Algerians 3s. 3d. per bushel, crushed 2s. 9d. per bushel.

BANK OF ENGLAND RETURN. By Telegraph—Press Association—CopyrichV Lo.ndon, June IG. The Bank of England return issued for tho week ended' Wednesday , , June 15, is as under:— Issue Department. Note Issue... ZW.mi.QOO Gov. debt ... £11,015,000 Othor eecuri- ' tios ... 7,434,000 . Gold .... 41,073,000 £50,532,003 £59.522,000 Banking Department. Preprinton , Govt. securlcapital £14,553,000 tios £17,874.000 Tublio do- Other socuriposits ... 37,533,000 tios 30.501,000 Other <lcpoeits ... 36,035,000 Notes ... 31,820,000 Host, 7-day and other Coin... „ 1,317,000 bills 3,401,000 ' £81,572,000 , , £31,572,000 Tho leading items of the Bank of England return afford the following comparison:— ' • This week, last week. Last ycay ££ - £ Bullion . ... 41,O7:;.CO0. 40,335,000 38.H1i,000 Reserve ... 35.137.C00 31,8*1,000 39.2Ui,u00 Noto circulation 27,702,U(X> 28,0(IV,000 29,0J5,000 Public Deposits 27.583,000 24,93::,U0U 12,!)71.0U0 Other Deposits 36,0i0,0U0 a7,087,(XX) 44,766,000 Proportion of HabUlties ... 51.M 51.07 60.65 OOVEENMENT SEODBITIEB. The. following are the latest quotation! for. Government securities, with a comparison of those ruling last week:—

BANK KATES OF DISCOUNT. Tho Bank of England discount rate was raised on October 7 last from 2} to 3 pur cent., on October 14 to 4 per cent., and on October 21 to 5 per cent. On December 9it was reduced to 4* per cent.; on January 20 to 31 per cent., and on February 10 to 3 per cent. On ilarch 17 it was again raised to 4 per cent., on June 2 it was reduced to 31 per cent., and on June 9 to 3 per cent. Tho Bank of irauce rate was reduced from 3J to 3 per cent, on January K, 1908, and remains at the latter figure. The Imperial' Bank of Uermauy, on September 20 last, advanced its rate from 35 to 4 per cent., and on October 11 to 5 per cent.; lowered same on January 21 to 4J per cent., aad on February It) to 4 per cent. MAEKET BATES OF DISCOUNT. The following are the market rates for best three mouths' bills:— , London Paris Berlin percent, percent, percent. Juno 16 2 9-16 21 33 Last week 22 25 ' 3J Last year li 18 31 Short loans are i lower at 23 per cent. Tho quotation last week, was 31 per cent., and not 3 per cent, as given in tho cable message. . : COLONIAL AND OTHER PEODUOE. Sugar.—German beet, 88deg., Id. lower at 14s. Gd. per cwt.; first-mark, granulated, f.o.b. Hamburg, Id. lower at 16s. 9d. Bradford Tops.—Tho market is quiet. Forties, Hd. lower at 14' d. per Ib.; fortysixes, id. lower at 16Jd. ; common sixties, unchanged at 27Jd.; super sixties, unchanged at 23Jd.; siity-fours. unchanged at 29>d. THE METAL HAKKETS. Copper.—On 6pot, 18s. 9d. lower, at £54 23. Gd. per ton; three months, 365. 3d. lower at £54 17s. 6d. per ton. Tin—On spot, 17s. 6d. lower at £147 10s. per ton; tlirco months, 17s. 6d. lower at at £148 12s. 6d. Lead, ss. higher at £12 12s. 6d. per ton. Pig-iron, 48s. lid. per ton. Spelter, 7s. 6d. lower at. £22 2s. 6d. per ton. By Telegraph—Press Association-Copyright. London, Juno 16. Silver is quoted at 21 11-16 d. per ounce. Copper.—On spot. £54 11b. 3d.; thrco nionths, £55 ss. Tin—On spot. £147 155.; tnrco months, £148 17a. 6d. Lead, £12 13s. 9d. LONDON PRODUCE IIAEKETS. Dy Telcgrtiph-Press Association-Copyright. (lice. Juno 17, 10.15 p.m.) London, Juno 17. Tho wheat market is steady, but is very sensitive as regards any European crop news. The market closed firm on rather less favourable reports from Itussia and llumania.' Tho demand for cargoes is quieter. Ono was sold at 31s. 9d. Australian lots (Jamtary-February-March) aro offoring at 31s. Gd., and steamer parcels afloat, at 31s. 9d. Spot sales of Australian aro dull, at from 325. 6d. to 355. Small sales of New Zealand aro reported at from 31s. Gd. to 335. 6d. Flour ia Oat. at about 255. 6d. on spot. Nothini; is doing £oi shipment.

Barley is neglected. New Zealand Chevalier is quoted at 225. 6d. Oats arc dull find unchanged. La Plata, July shipment, arc o.uoted at 12s. 6id. Butter in quiet, and colonial is firm and unehantrcd, bulk arrivals beinj? stored. Cheese is iirmor. New Zealand white is quoted at from 575. 9d. to 585.; and coloured, at from 555. to 565. LONDON MARKETS. Messrs. Dalgcty and Co., Ltd., have received the following cable message from their London house, under date June 16:— Frozen meat— I There is $ui active 'demand for New Zealand lamb, prices being as under:—New Zealand prime crossbred Canterbury, heavy. sfid. per lb.; No., light, s£d. per lb.; New Zealand prime crossbred, North Island, heavy, s£d.; do., light. s[jd. Mutton-Small supplies. Prices firm at following figures. New Zealand . prime crossbred, Canterbury, heavy, old. per lb.; do., light, 4d. per 111.; New Zealand prime crossbred, North Island, heavy, 33d. per lb.; do., light, 33d. per lb. Beef—Poor demand, prices being weaker. We-quote:— New Zealand prime ox beef, fores, 3id. per lb.; do., hinds, 4d. per lb. The demand for beef lias been chcckcd by the increased prices asked. Tallow—Limited demand and prices somewhat in buyers' favour.

Variations _ coninuiod Prico. W iih. lait woekl £ s. d. ~ . 25% Imperial CodsoIs 6J 15 0 10s. higher •1 ,,N.S.\V.1933Jan.JnIy 105 0 0 Unchanged 31 ,,N.S.W.1918..nir.-Sop. O) 10 6 Us.lid.hisnor 3 ,,N.S.\V.lS35'Apl.-OcC. ti8 10 0 UncuiiUijod i , \ic. lUl!OJan.-July 102 0 O 10s. hi^lior 3i „ Vic. lim-6 Jan. July !i6 0 0 Uucbuufjod 3 ,,Vic.l'J-20-U)Jan.-July 85 10 0 Unchiiused 3i ..S.A.WlliJau.-July 9i 7 B 13 M. lowers 3 ,,S.A. 1J1U Jan.-July W 0 0 ills, lower 4 ,,Q'l'dl'J15-aj Jan.-July 102 0 0 Unchanged 35 ,,yrai'Ji<-30.Ian.July W 1U 0 Unohausod 5 ..U'l'di'jJi-lTjan.July S5 10 0 Unchaueod i ,.K:Z. 102!) May->»OT. 101310 0 Unchanged 34 ,,N.Z. 1IJ10 Jan.-July % 10 0 UuchiiiL'cd 3 ,,S.Z.llWf.Ai)ril-Oct, ■ b7 JO 0 Uncliiui.-oa 3i,,W.A.liliO-JO.\laj--Nov 9710 0 Untiiiujud 3 „ W.A,1913-35M»y-Nov 87 10 (I Unclmnccd 34 . Tae. MHOJan.-July MOO Unchant'od 3 ..TtB-HBO-ll) Jan.July S5 10 0 Unchanged