COMMERCIAL ITEMS.

Dominion, Volume 3, Issue 856, 30 June 1910, Page 8

COMMERCIAL ITEMS.

INVESTMENT SHARES. There were no transactions in investment shares yesterday. Bank of New Zealand, buyers £10 2s. 6ti\; National Bank, buyers £G Is.; Equitable Building, buyers £9 7s. 6d.; Metropolitan Building, buyers £12; Wellington Investment, buyers 41:;. 3d.; Wellington Trust and Loan, buyers £7 Bs.; Wellington Deposit, buyers Bs. 3d.; National Mortgage, buyers £3 4s. 6t1.; New Zealand and liiver Plate, buyers £2 "Is.; Palraerston North Gas, buyers £7 155.; Wellington Gas, £10 paid, buyers £18, £6 15s. paid, buyers £13 10s.; uew issue, sellers, £2 10s. premium; btaudard Insurance, buyers £1 4s. 3d.; Gear Meat, £4 paid, buyers £10 Is., £1 paid, buyers £2 135.; New Zealand Shipping, buyers £S 10s.; Wellington Woollen, ordinary, buyers £3 55., preference, buyers £2 9s. 6c1., sellers £2 10s.; Taupiri Coal, buyers 19s. M.; Westport Goal, buyers £6 10s., sellers £6 125.; Ley-land O'Brien Timber, buyers £1 ss. 3d.; Manning and Co., sellers £4 Is.; New Zealand Drug, buyers £2 9s. 6d.; Sharland's ordinary and preference, buyers £1; Ward and Co., sellers £5.

CUSTOMS KEVENUE. Customs revenue collected at Wellington yesterday amounted to £8240 7s. BANK SHARES AND DEBENTURES. By Telegraph—Press Association—Copyright. London, Juno 28. Tho Stock Exchange quotations are as follow:—Bank of Australasia, buyers £111), sellers £110; Bank of flew Zealand, buyers £10 55., sellers £10 15s. Melbouruo Harbour debentures, £U)2. SILVEIt. By Telegraph—Press Association—Copyright. London, Juno 2d. Bar silver is quoted at Hid. per ounce standard. GEAIN MAKKET. (By Telegraph.—Press Association.) Dunouin, June £9. Oats: The market is quiet. and there is no change in price. Prime Gartous ana sparrowuills, for which there is lair demand, are not offering freely, consequently little business is passing. Any samples of medium quality are being taken by produce merchants lor local consumption, i'riuie nulling, Is. Id. to Is. Ud.; good to best feud, Is. 9*d. to Is. luid.; inferior to medium, Is. Bd. to Is. Bid. (sacks extra). Wheal: In sympathy with the iioiidon market, prices locally have firmed somewhat, though there has been no material rise in prices. It has been possible to do business with merchants at quotations, iiillcrs, however, show no inclination to increase stocks to any extent, except for Hues ol choice velvet. Prime milling, 3s. sd. to 3s. 6d.; best whole fowl wheat, 3s. Id. to 3s. 3d.; medium,■ 2s. lOd. to 35.; broken and damaged, 2s. 3d. to 2s. 9d. (sacks extra).

LONDON MONEY MARKET. The amount due for taxes to tho Imperial Government as the result of the postponement of the Budget, was computed on May 1 last to be £35,000,000. At that tiine the Government deposits ill the Bank of England were £10,325,000. The total is now £27,870,000. Tho fear of the market was that the joint stock banks would be compelled tu seriously limit accommodation, owing to the disturbance occasioned by payment of so much money into the Government account. The extent to which the joint stock banks have been drawn upon is indicated by the reduction of their cash deposits at the Bank of England. Early in May the amount stood at £+1,137 COO, while last week It had shrunk to £37 017,000, a reduction of slightly more than £7,000,000. Treasury bills totalling £26,500,000 were created to cover Government expenditure up to the date of the adoption of the Budget, and the first !■! these issues amounting to £1,700,000 matured some weeks ago; a further £10:ro,000 was repayable on .Tune 24, and an additional £9,000,000 matures next month, so that there should be considerable relief u> tho market. The Bank of England has been lending freely to meet the situation. Tho advances early in May amounteu to £29,683,000, and last week the amount stood at £33,866,000. an increase of about £4.200,000. The reduction in the Bank rate from 4 to 3 per cent, did not check the inflow of gold, and it is difficult to see how high rates can'be maintained unless there are somo other factors operating adversely.