COMMERCIAL ITEMS.

Dominion, Volume 3, Issue 888, 6 August 1910, Page 8

COMMERCIAL ITEMS.

INVESTMENT SHARES. A sale of Wellington Woollen, ordinary, at £3 6s. 6d. was tho only transaction recorded yesterday in investment shares. Dank shares appear to be offered at prices beyond buyers' ideas of values, for thero are no declared buyers. Other shares show no changes. Buyers. Sellers; Sales. £ s. d. £ s. d. £ s. d Bank N.Z — 11 0 0 - National Bank — 6 0 0 — Equitable Building 910 0 — ' —■ Metropolitan . Bldg. 12 0 0 — — N.Z. Loan and Mercantile t — 012 6 — Wellington Trust and Loan 7 9 0 — — 1 Wellington Deposit 0 8 3 0 9 0 — Feilding Gas — 1 I*9 -? Wol'?t'n Gas- (£10) 18 0 0 — . — , Wellington Gas (£6 155.) 13 10 0 - - Wellington Gas (new issue), prern 2 4 6 2 7.6 — N.Z. Insurance — , 40 i - — ' Gear Meat (£1) ... 214 '6 — — Meat Export'(£4) ... — 5 10 0 — Meat Export (£2l2s. 6d.) - 3 9 0 - Union Steam 115 0 — — W'g'tn Woollen (or.) 3 6 6 — 3 6 6 W'gt'n Woollen (pr.) — 215 0 — Taupiri Coal 1 0.6 1,0 5 ; — Leyland-O'Brien ... 1 6 6 1 7 6 — N.Z. Paper Mills ... 1 2 3 — * — Sharland's pref. ... 110 , Taranaki Petroleum. — 011 0 —• Taringamutu Totara 19 0 — — COMMONWEALTH NOTE ISSUE. -In the Commonwealth Nrte Issue Bill now before the Federal Parliament, it. is provided that the banks must, if notes are demanded,.'pay up to £25 in paper, this takes away from tliera the option of paying in gold, and means the partial demonetisation of gold. The limit 'of the note issue fixed is £7,000,000, against which it is proposed to hold 25 per ccnt. or £1,750,000 in ; gold, and the notes will only be cashed iu Melbourne. This latter provision . may force the banks out-side .of Melbourne to charge a premium' for tho metal, since they must send to Melbourne if they,- wish to cash the notes, and pay all the' custs and run all the risks incidental thereto; The Federal Treasurer obtains a forced loan of £5,250,000, and it ts contended that as much of it as he spends will quit the. country in gold. The new measure will, if. passed, increase the cost of keeping money, and somo of them may be. forced to restrict their advances.

MONEY. MARKET. "In tho present ißstfe," says the "Trade Review" of Thursday, "we review the official returns-of the exports and import's of tho Dominion to June 30 which havo been published since our last number. "The exports still exhibit gratifying increase, and reach a total in excess of all previous records. Tho imports show an increase of about half a million for the quarter, but the total for a- twelvemonth ending with June* 30, in consequence of the shrinkage revealed in the volume' of our imports for about a' year past, discloses a net decrease of nearly a similar amount. "The following comparison of our exports aud imports apart from specie for the last twelvemonthly periods ending with June 30 is interesting and instructive, throwing light on the recent stringency in the money market and on our present handsome recovery • Exports. Imports. Year. ■ £ £ ' 1903-t> 17,634,043 13,052,456 1906-7 19,403,248 i 5,486,903 1907-8 16,745,589 17,484,669 , ' 1908-9 18,309,279 • 15,755,096 •• 1909-10 21,911,723 . . 15,266,815 "The stringency of 1908. is very simply accountod for, as we have said above, by these figures, which show a change in 1907-8 from a surplus uf exports to an excess of imports. The very he>avy excess ot exports in the latest year, on tho other hand, explains the ipresent plentitude of money. The improvement shown in thb banking accounts of tho June quarter, as stated in our last issue, amounted to £3,636,000, as oompared with the return of June, 1909, and that in its turn was an

improvement of £2,000,000 over the year before. We observe further that the Post Office Savings Bank return (for which we have not room in this issue) shows an exeesa of deposits over withdrawals in 'the June quarter of £354.C00. "All these statistics give evidence of an amplo supply of money which Is available for all-or any legitimate purposes. "The Advances to Settlers Office reports having in the year ended March 51 last lent to settlers £1,005,120 besides £362,352 of loans to workers, on the secuvity of • real estate. "It must be admitted that in spite of these improved conditions there seems to exist a lack of spirit and enterprise which is to be regretted." NEW ZEALAND PRODUCE. The total value of the principal products passed through the Customs for export from New Zealand during the past month was £1,295,437, as compared with £1,274,621 for «Tuly, 1909, showing the modest gain of £20,865. For the year ended July 31 last the total was £20,461,703, an against £17,537,607 tor the previous year, the increase being the substantial sura of £2,924,(:9G. Comparing the values of the different products exported last month with those for July, 1909, wc get the following:— July, July, i 1910, 19G9. Butter 6,125 15,665 Cheese 9,720 13,604 Beef 123,915 62,555 Mutton 162,467 73,501 Legs and pieces 7,821 1,102 Lamb 234,244 131,915 Wheat '. 6,646 140,9.10 Oats 2,382 121,942 Potatoes 366 295 Hemp . 31,877 18,407 Babbits 3,285 2,656 Tow 2,684 964 Kauri Gunr • 54,654 59,977 Grain and pulse 1,563 10,276 Hops 733 1,476 Hides 27,471 '24,414 Skins 86,438 67,019 Tallow 61.C95. 56,412 Timber 34,612 28,151 Wool 221,972 227,595 Gold 215,417 ' 215,775 £1,295487 £1.274,621 CUSTOMS EEVENUE. Customs revenue collected at Wellington yesterday amounted to £2190 10s. Bd. FItUIT AND, PIiODUCE BEPORt! The New Zealand Fruit and Produce Co,, Ltd.,- report as follows:—Prices for fruit have firmed considerably, and-a, good demand now exists for ail kinds. Vegetables are also in short supply, good prices ruling all round. The price for caulillower is extremely high. On Thursday we sold local cauliflower at £1 per sack, containing from 20 to 24 heads, and yesterday we realised 15s. 6d. per doz* or Is. 3d. each, for Australian caulillower, ex Warrimoo. We report as follows:—Potatoes, 6s. 9d. to 7s. 9d. cwt.; onions, 6s, 9d. to 7s. cwt.; turnips, 4s. 6d. to ss. 6d. sack; swedes, 2s. 9d. > cwt.; carrots, 4s. 6d. to 7b. sack; parsnips, 6s. 6d. to Bs. sack;' cabbage. 4s. to 6s. 9d. sack; artichokes, ss. (part bag); cauliflower, 17s. to 20s. sack; lettuce, 4s. to 6s. 6d. case; spinach, 4s. to ss. case; pumpkin, 3s, to 4s. sack; marrows, 2s. to 3s. sack; apples, Washington 6s. to 75., Stone Pippin 6s. to 6p. 6d., Ilokewood 7s. to Bs., Epp's Seedlings 4s. to 4s. 6d., Sturmere ss. to 65., Scarlet Permains Bs. to 95.; Hobart apples, Scarlet Permains Bs. 6d. to 9s. 6d., Stone Pippin 6s. 6d. to 75., French Crabs 7s. 6d. to Bs. 4d„ Buesetn Bs.; passion fruit, 7s. box; oranges, Island, 6s. 6d. to 95.; bananas, 15s. to IBs. pears, cooking 7s. 6d. to Bs. 4d., Hobart 4s. 6d. halfcase; pines, 7s. to Bs.; mandarins, 10s. to 10s. 9d.j sevilles, 4s. to 55,; lemons, ss. to 65.; eggs, fresh Is. 6d. doz., preserved Is. doz.; chaff, £5 to £5v155.; oats, A-grado Gartons, 2s. Bd.; bran, 8s; 3d. sack; wheat, 4s. to 4s. 3d. bushel; straw, 2s. to. 2s. 3d. bale; rice. 6&. 6d. (561b.), mat; pollard, £6; peanuts, 235. sack; ducks, 4s. 6d, to 6s. pair;.'hens, 51 to 3s. 6d. pair.

WELLINGTON MARKET UEPOIIT. Messrs. Laery and Co., Ltd., Wellington, report wholesale prices ruling on.the markets;— Wheat, fowl, 3s. Bd. to 3s. 9d.; feed oatb. 2s. sd. to 2s. 7d.; dun oats, 2s. 7d. to 2s. 9d.; seed oats; 2s. lOd. to 3s. i Alseriau oats, 2s. 7d. to 2s. 9d.; maize, 3s. 3d. to 3s. 5d.;

crushed malt. 75.; fowl barley, 2s. 9d.;Cape barley seed, 35.; flour, New Zealand £9 15s. to £ifl; pc.is, Prussian blue 6s. 3d., split £18; partridge peas, ss. 3d. bushel; bonedust, £5 155.; superphos* phatcß, £5 to £5 55.;. pollard, £6 10k.: bran, £4 ss. to £4 10s.; pearl barley, iss.; chaff (oatensheaf), £4 15s. to £5 ss.;oatmeal, £12 lCs.; potatoes, table, £71Cs.; Heed potatoes, Up-to-dates, £7; onions, Victorian, £7 ton; molasses fodder, £5; baeon (factory), sides 71d., hamo 9d., rolls, Bd.; butter, prime bulk, lUd. to lid. Poultry, liens, 3s. 6d.; ducks, ss. to 6s. per pair; turkeys, cobblers 18s. to 205., hens 10s. to 145.; fresli eggs, Is. 3d. to Is. 4d. per dozen; preserved • eggs, Is. Id. per dozen; cheese, s£d. per lb.; Akaron, ma« chine-dressed cocksfoot-, 7d. per to.; farmers' dressed cocksfoot, sd. per lb.{ryegrass, 4s. fid. per bushel; Italian ryegrass, 3s. fid. to 4s. 6d. per* bushel; whito clover, 70s. to 755. per cwt. LONDON MINING QUOTATIONS. By Telegraph—Press Association—Copyright. London, August 4. The Stock Exchange quotation :—Waihi Grand Juuction, buyers 375. 6d., sellers 40s. (Rec. August 5, 3 p.m.) London, August 4. Sharemarket quotations- include:—Waila Goldmining: Buyers, £7 18:%; sellers, £7 195.; sellers, £9 Is. to £9 3s. Junction: Buyers, 375. 6d,; sellers. 40s. LONDON MARKETS. Messrs. Dalgety and Company, Limited, report having received-the following cable advices from their London house, under late August 4:—Beef: Fair demand, and market firmer., We quote:—New Zealand prime ox beef'fores, 2|d. per lb.; liinds, 3£d. per lb. Jjamb:..Good demand and market firuier. We -quote—New Zealand prime crosebred lamb, Canterbury, heavy 4*d. per lb., light 5d., North Island, heavy 43d., North Island, light sd. Mutton: Poor demand and prices unchanged. New Zealand prime crossbred mutton, Canterbury, heavy 3Jd. per lb., light 33d.; North Island, heavy. 3*d., and North Island,' light 3Jd. GRAIN AND PRODUCE. ißy Teletrrapb—Press Association.) Christchurch, August 5. The easing of tlie London and Australian wheat markets lias made local buyers less desirous of doing business, and there is therefore practically no demand except for such lines as- suit millers' requirements. Most of the wheat offering, however, is of inferior quality, and in the case of sound grain growers are holding firmly for their own prices. It is reported that a-'line of sound wheat has changed hands at 3s. sfcd., at a country station, and 500 sacks of good milling Tuscan was bought at 3s. 2d. The oats market remains without change, there being little or 110 demand.. The advent of fine weather has enabled chaff-cutting operations to be resumed, and there is a fair demand for export to the north. Tho price is, however, easier, 60s. being now given at country stations. There is very,good iuquiry for potatoes, the price still beiug £5 10s. per" ton at stations.