COMMERCIAL ITEMS.

Dominion, Volume 3, Issue 869, 16 July 1910, Page 8

COMMERCIAL ITEMS.

INVESTMENT SHAKES. Yesterday there were > transactions in New Zealand Shipping Co. shares at £10, Wellington Woollen, -preference, £,'i 10s., Taupiri Coal £1, and N'ostport Coal £6 12s. Rank of Now Zealand, buyers £10 75.; National Bank, buyers £6 Is.; Equitable Building, buyers £9 10s.; Metropolitan Building, buyers £12; Wellington Trust and Loan, buyers £7 Bs.; Wellington Deposit, buyers Bs. 3d.; New Zealand and River Plate, buyers £2 os. 6d.; Feeding Gas, sellers £1 25.; Napier das. £10 paid, buyers £24; Palnierstou North Gas, buvers £8; Wellington Gas, £10 paid, buyers' £18, £6 15s. paid, buyers £13 12s. 6d., new issue, sellers £2 10s. premium; National Insurance, buyers £1 10s.; Gear Meat, £4 paid, buyers £10 55., £1 paid, buyers £2 145.; New Zealaud Shipping, sellers £10 Is.; Union Steam, buyers £1 14s. 6d.; Wellington Woollen, preference, buyers £2 10s. 6d.; Wcstport Coal,'buyers £6 125., sellers £6 135.; Westport-Stockton, buyers 6s. 6d., sellers , 7s. 3d.; LeylandO'Bricn Timber, buyers £1 ss. 9d., sellers £1 6s. 3d.; New Zealaud Drug, buyers £2 10s. 6d., sellers £2 11s. 6d.; Sharlaud's preference buyers 20s. 6d.; Taranaki Petroleum, sellers Us.; Taringamutu Totara Sawmills, kuyeia £1 Cs„ sellers £1 10s. NEW ZEALAND TRUST AND LOAN. • The report of tho New Zealand Trust and Loan Company, Ltd., for 1909, states that the balance of undivided profits, after payment of all current expenses, is £20,805. ' The directors recommend that £2000 bo now appropriated for tho payment of a dividend on tho £1 fully paid ordinary shares of Is. per share, free of income tax, Icing 5 per cent, for the year 1909, and that the then remaining balance —namely, £)B,Bos—be carried forward. In addition to the distribution of 15s. per share out of funds in hand made during the twelvn mouths covered by theso accounts, the directors have since, during tho current year, made a further distribution of ss. per share on March 1, 1910. This brings the return of capital and other distributions to £7 per share to this date. The settled policy of reducing remaining jnortgages by instalments has been further pursued, with the result that the company's commitments have bten brought within so manageable a compass that" tho directors have felt justified in entering upon negotiations for the final closing of the company's business, as anticipated in last year's report. On the conclusion of 6uch negotiations the directors will summon a meeting of the share•holders with it viow of passing the necessary special resolution for tho formal liquidation of the company. CUSTOMS REVENUE. Customs revenue collected at Wellington amounted to £1669 16s. lid. BANK OP ENGLAND RETURN. By Tcleeraph—Press Association—Copyriuh\ London, July 14. (Rec. July 15, 8.40 p.m.) The Bank of England return issued for for week ended, Wednesday, July 13, is as under:— Issue Department. KotoIBSUO... £58,6113.000 Gov. debt ... £11,015,003 Other securities „. 7,434,000 Gold _. 40.163,001) £53,612,003 , £58.612,C00 Banking Department. Proprietors' Govt, securicapital £14,553,000'. ties £17,B!0,000 Public do- Other 60curiposits ... 19,518,000 ties... ... 30.D01.0C0 Other deposits ... 42,076,000 Notes ... 30,052,000 Best, 7-day ' ■ ■ and other Coin... .„ 1,211,000 bills 5,490,000 £80,137.000 £50,137,000 The leading items of tho Bank of England return afford the following comparison:— This week. Last week. La,Bt yoar. £ £ £ Bullion 40,163,000 40.237,000 39.i15.000 Deserve 31,263,000 31,08i,000 29,542,000 Kote circulation •Aj.GGO.OOO 23.85J.000 29.909,000 Public Deposits 19,518,000 21,515,U00 8,377,000 Other Deposits 42,576,000 45,453,000 48.130,000 Proportion of resorve to liabilities ... , 50.32 46.40 . 62.24 . GOVERNMENT SECUEITIE3. The following aro the latest quotations for Government securities, with a comparison of those ruling last week:— Variations _ compared Prico. with ' ' last week. £ «. d. 24% Imperial Consols 68 i (i Unchanged 4 „N.S.W.l933Jan.July 105 0 0 Unchanged 34 „N.5.W.1918.,iar.-Sop. 99 10 0 Unchanged 5 „N.5.W.1935Ap1.-Oot. 83 10 0 Unchanged 4 „ Vic. 1020 Jah.-July 102 0 0 Unchanged 3j „Vic. IU2I-6 Jan.-July 98 0 0 Unchanged 3 „Vi0.19i9-49Jan.-July 85 10 0 Unchanged 34 „ S,A. 1916 Jan.-July 93 7 6 Unchanged 3 „ S.A. Ulti Jan.-July Hi 0 0 Unchanged •1 . „Q'l'dl9ls-21Jan.-July 102 0 0 Unchanged 34 „QTdl924-30Jan.-July !3 0 0 Unchanged 3 „ Q'l'd lffiiH7Jau.-July 35 10 0 Unchanged i „ N.Z. 1929 May-Nov. 106 10 0 Unchanged 34 „N.Z. 1940 Jan.-July 96 0 0 10s.hi«hor 3 „ N.Z. 194f, April-Oct. fa 7 10 0 Unchanged 34 „ W.A.19z0-40 May-Nov 97 10 0 Unchanged 3 „ W.A.1U15-35 May-Nov 63 0 (I 10s. higher 34 ..T'as. 1940 Jan.-July 98 10 0 Unchangod 3 „Tas. 1920-40 Jan.-July 66 0 0 Unchanged BANK P.ATES OF DISCOUNT. ' The Bank of England discount rate was raised ou October 7 last from'2l to 3 per cent., on October 14 to 4 per ceut., and on October 21 to 5 per cent. On December 9 it was reduced to 4j per cent..;, on January 20 to 31 per ceut., 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 Juno 9 to 3 per cent. Tile Bank of l'rance rate' was reduced .from 31 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 31 to 4 per cont., and on October 11 to .5 per cent.; lowered same on January 21 to 41 per cent., and on February 10 to 4 per cent.' MARKET BATES OF DISCOUNT. ' The following are the market rates for best three mouths bills:— London Paris Berlin rate. rate. . rate. per cent, per cent, percent. June 14 21-16 2j 31-8 Last week 21 2 25 ' Last year ■'..._. 17-16 .11 .• 2ii Short loans are quoted at 12 per cent., as against IS per cent, a week ago and 31 per cent, a fortnight ago. COLONIAL AND OTHER PRODUCE. Wheat.—The markets are firm. Tho American market is still influenced' by fears of drought in the North West, but buyers aro somewhat cautious, as European prospects continue good. Thrco Australian cargoes sold at 355. per quarter, and four at 345. 9d. Holders are asking 335. 6d. for Now Zealand May shipment. There is fair inquiry for parcels, South Australia afloat at 345. 6d.; New South Wales, nearly due, 345. Australian, on spot, is in small supply, and is quottd at 365. 6<L lteutcr's Winnipeg correspondent reports three Western provinces indicate'drought, and will reduce anticipated yield probably by half. Flonr.—Australian is in . better demand. On passage parcels arc quoted at 245. 6d. te 245. 9d. ' Oats are quiet. New Zealand, La Plata, July-August shipment, 13s. 3d. Butter—Colonial is neglected, and nominally unchanged; arrivals are being mostly stored. Danish is slightly easier at 113s. to 1155.; Siberian arriving in large quantities, choicest being quoted at 965. to 100s. Sugar.—German beet, 88deg., 2d. lower, at

14s. Bd.; first marl: granulated, f.o.b. Hamburg, Id. lower, at 16s. 9d. Bradford Tops—The market exhibits a cheerful tone, and a hardening tendency. Prices are unchanged. THE METAL MARKETS. Copper.—On spot. 17s. 6d. lower, at £53 Bs. 9d. per ton; three months; 18s. 9d. lower, at £54 Is. 3d.; electrolytic, £57. . Tin.-On spot, 18s. 9(1. lower, at £148 13s. 9d. per ton;. three months, £149 16s. 3d. Pig-iron, 7d. lower, at 48s. 9d. per ton. Spelter, ss. higher, at £22 7s. 6d. per ton. LONDON WOOL SALES. By Telegraph—Press Associatiuu -Gopyrighi. London, July 14. There was a good sale. Prices were firm. Tliere were some withdrawals on account of high reserves. The wool .sales included:—"Make," top price, lid.; average. 9Jd.; Kaputone, top price, 21jd.s average, 21Jd. .. (Ucc. July 15, 9.25 p.m.) London, July 15. At the woo! sales, prices for- New Zea ; land clips were as follow:—"Omarama, top, lid.; average, 9ijd. "W.D., 10Jd. and IOJd. "Kra," Hid. and 10 l-Bd. Gear. 14id. and 13$ d. THE METAL MARKETS'. By Telegraph—Press Association—Copyright. i London, July 14. • Copper-On spot, £53 6s. 3d.; three months, £54; electrolytic, £56 15s. Tin.-On spot, £148 12s. 6d.; three months, £149 15s. - WHEAT. Two Australian cargoes sold at 345. 6d. and 345. 9d. .respectively. SHEEPSKINS SALES. Tho sheepskins sales have commenced. Prices for Punta Arenas skinß show a par to 5 per cent., decline. By Telegraph—Press Association—Copyright. (Rec. July 15, 9.25 p.m.) . London, July 15. At the sheepskins sole 3900 bundles of Australian and 1500 of New Zealand were catalogued, and tho bulk 'were sold. There was an average attendance, and competition was somewhat slow, except for full-woollcd and half-wbolled. Compared with tho June sales, merinos and combings declined by a farthing to halfpenny; clothings by jd.; fine crossbred combings by gd.; low, id. to Jd. Pelts were unchanged. SILVER. Silver is quoted at 25Jd. per ounce standard. LONDON MARKETS. Messrs. Dalgety and Company,. Limited,. report having received the following cable

advices from their London house, dated July 14:—Sheepskin?: Since our last wire merino combing skins are lower Id. to Id.; crossbred line combing skins, prices lower in.; crossbred coarse and medium combine; skins, 3d. to id. lower, whilst prices for clothing shins arc unchanged. Mutton: Tliere is a limited demand, prices having weakened. Lamb: Prices are Jd. per lb. lower, owing to increased supply aud rather less demand. Beef: Prices aro nominally Jd. lower, owing to lower prices being asked for chilled beef. Tallow: Low and inferior descriptions, 6d. higher; mixed beef and mutton, Is. to Is. 3d. higher. The New Zealand Loan and Mercantile Agency Company, Limited, have received the following cablegram from their London house, under date July 14:—"Sheepskins: Since last sales merino and short and shorn skins have declined 3d. per lb'.; other sorts, Jd. to *d." GRAIN AND PRODUCE. (By Telegraph.—Press Association.) Cliristoliurch, July 15. Locally the grain market is at a. standstill, as little grain is being offered, and prices asked are generally above buyers' limits. Chaff, in store, is firmer, but as no cutting can be done m the wxi weather prevailing no higher prices aro being offered to farmers. ' Potatoes aro also firmer, and for those bagged and waiting delivery, £5 ss. is being offered. PETROLEUM REPORT. (By Telegraph.—Press Association.) Now Plymouth, July 15. The Taranaki Petroleum Company has received a very satisfactory weekly report from the manager. Number 2 bore yielded 100 barrels oil; the boring at No. 3 well is down to 3000 feet, and the bore is nearly full of oil. The directors will forward quantities of oil for testing in the Navy, and also to people interested in refining; Mining News, Live Stock Sales, and other commercial news will be found on page 7 of this issue.