COMMERCIAL ITEMS.

Dominion, Volume 3, Issue 894, 13 August 1910, Page 8

COMMERCIAL ITEMS.

INVESTMENT BHABES. The sales ' recorded ■ yesterday were New Zealand and Eivcr Plate at. £2 os. 9d., and Wellington Woollen, preference, at £2 12s. 6d. The buying and selling quota-' tions wore unchanged:— ' ; .-.•■' Buyers. Sellers. Sales. . £s. d. .£s. d. £s. d Bank N.Z. . - 11 0 0 National. Bank .: - - 519 0 ! - Equitable Building. 9 10 0 —■■' -: Metropolitan ......... 12 0 0 —■.'■-.: National Mortgage 3 3. 1 6 — — N.Z. Loan and,-Her- .•••"■'. cantile - 012 6 — N.Z. and Hiver Plate ■ — '..—' 209 Wellington Deposit — 09 0 — Feilding Gas '.' — 12 0 ' — Wel'gt'n Gas (£10) 18 0 0 - — Wellington Gas (£6 155.) 1312 6 — ■ - Wellington Gas (new ' . issue) 2 6 6 — ' — National Insurance 111 6 — . — . N.Z. Insurance ... 319 0 — — Gear Moat (£4) ... 10 5 0' - ' - Gear.Meat (£1) 215 0 ■ —. ■ - Meat Export (£4) .. —'.550 — Meat Export (£2l2s. ■ . • ■ . 6d.) ;■ — 3 5 0 - N.Z. Shipping ...... —, 1011 6 — .Wei. Woollen (ord:) 3:8.0 — — Wei. Woollen (pref.) 212 0 213 0 212 6 N.Z.'Con. Rental ■... - l ■■1 26 • '- . Sharland's ord 116. — , — Sharland's ■ pref. ... 1.1 6 — — Taringamatu Totara 110 0 . — • —

':. • FEOZEN MEAT. ■ , .•■ In writing on frozpn meat under date London, July 1, Messrs. W. Wcddell and Co. state,that the recent heavy arrivals of lambs have had the anticipated, effect, viz., to further depress the market for that class of;ineat, and, in view'of.the fact that ■ the. next few weeks will see further large .quantities coming on the tion in their operations. , The trade for mutton during,the week hae been exceedingly quiet, supplies being very heavy, and holders showing 'a disposition to sell.What .demand there is runs almost exclusively on light-weight carcassee, . ana even these:show a decline of fully ;ld. 'per lb. in value on the week. Heavy carcasses are . practically . unsaleable. Canterbury sheep realised :3}d. to 3Jd. -er lb.; prime North Island sheep,-3Jd. to 38d.;"secondary descriptions, 3}d. to 3id. New Zealand ewes, 3d. to 31d. Australian sheep are making 3d. to 3}d., and River Plato sheep 3}d. to 3Jd. The beef market has been most unsatisfactory during'the week, and there has been an almost entire absence of demand, in consequence of which almost every day has seen a , fall in prices. At the closo there is hardly ; any inquiry, and there : is nothing to be seen to ston the downward trend of the market. Frozen forequartcrs are quoted at 2Jd. to 2|d. : per lb., and hindquarters at 3Jd. to 3gd. South American chilled' fores 3d. to 3}d., and hinds 4Jd. to 43d. per lb. . . THE WOOI'mAEKET. According to recent mail advices it is beginning to be recognised by even the most optimistic members of the trade that wool is plentiful, although consumption is probably on an unprecedented scale. The present high range of values for tops, especially for merinos and fine crossbreds, is producing a feeling of caution amongst consumers, both spinners . and manufacturers. The situation in the United States is being watched with increasing interest, and the woollen and worsted industries across the Atlantic arc in a bad way. Last year Boston dealers were busily engaged buying wool at ridiculously high prices, whilst it- was still on the sheep's; back. ' They have been repenting at leisure ever since, and now are liquidating their purchases at enormous sacrifices. United States buyers, ,by their extensive purchases-, of British-grown wools. , last year, gave a fillip to the market • and raised values in a very material manner. It is to 'be feared that farmers in the United Kingdom will miss much of their competition for this season's clip, but as the home trade is in such good form the decljne in values may be hardly aa great aa some appear to anticipate. ' ANNUITY ASSURANCE.' It has .often been suggested that as impaired lives.are penalised in respect of life assurance, they may reasonably ex. pect to derive a corresponding advantagb in , respect' of the purchase price ..of annuities,* . and certain, assurance companies are . now nroparod to offer terms which will go fax to meet this demand. The increased rates will only be granted after medical examination, and will be fixed in accordance with .tho health of the applicant' at tho time of the proposal. Another innovation which has taken place recently in respect of annuity . business has been devised in order to meet tho reluctanco sometimes felt towards investing in an annuity on account of tho possibility of death occurring many years before the natural expectation. Under tho scheme in question a return of a .portion of the purchase money is mado on tho premature death of tho annuitant, tho amount' returned being in inverse proportion to the number of years the annuity has been paid. Another scheme recently issued by an enterprising office provides that in tho-event of a desire to surrender tho annuity a return of part of tho purchase money will bo mado in proportion to the ago of the annuitant and the timo that. has- expired since the contract was entered into.

■"•■ CUSTOMS EEVENTJE. Customs revenue collected at Wellington yesterday amounted to £4084 Is. sd. ' WELLINGTON MARKET BEPOE'I. The New Zealand Farmers' 00-operativo Distributing Co., Ltd., report for tho week ended yesterday as follows:—Potatoes continue ■ firm, and business in both tables and seeds is brisk. : Vcgctablea. are all realising high prices, and excepting table carrots, which are coming in freely, supplies are scarce. Oabbago and cauliflower are especially inquired for. Apples are in good demand. Eggs havo dropped twopenc'o during tho week, and a further dcclino is probable if present supply keeps up. The market is under-supplied with porkers, and good lines would realise sd. nor lb. Potatoes, prime, £7 10s. to £8 per ton; potatoes, seed,, specially selected, Canterbury Tfp-to-Datcs, £7 10s. to £8 per ton; onions, Australian, £7 per ton; pickling onions, Bs. : cwt.; garlic, 3d..per lb.; cabbage, choice ss. 6d. to 95.>6d., ordinary 3a. to 4s. 6d. 'sack; cauliflower, choico 10s. to 155., others 3s. to 7s. 6d. per sack; carrots, llutt, 6d. doz., and 3s. to 53. per sack; turnips, white, 6d. doz.; Ewcdes, 2s. 6d. to 3s. per sack; vegetable marrows, 2s. 6d. to 3s. per sack; 1 pumpkins, 3s. to 4s. per sack; pic melons, 3s. to 4s. per sack; lettuce, choice 4s. 6d. to 6s. 6d., fair 2s. 6d. to 3s. per ca6c; spinach, best. 3s. 6d. to ss. per case; spring onions, lOd. doz. bundles; apples, cookers, large 4s. 6d. to 7s. 6d., small 3s. to 4s. case; apples,, dessert, well coloured 7s. to 9s. 6d., others 4s. to ss. 6d. per case; pears, dessert 10a. to 15s. 6d., cookcra, largo 4s. 6d. to ss. 6d., small 3s. 6d. to 4s. per case; butter, separator lOd., dairy 9Jd. per lb.; cheese, liest factory mediums 6d. per lb., loaf 7d. per lb.; dressed porls, 70's to 90'e 43d. to 5d., 90'e to 100's 4Jd., baconers 4d. to 4Jd.; chop-.

pors (heavy) 3d. to 3Jd.; ergs, fresh Is. 4d., preserved Is. per dozen; bacon, factory sides 7d., rolle 7jd., bams 9d. per lb.; tallow, tins, 235. cwt.; poultry, cockerels ss. 6d. to 6s. 6d. for good birds, email 3s. 6d., table roosters 4s. to 55., table hens 3s. 6d., small 2s. 6d.; ducks, large ss. to 6s. 6d., small 3s. 6d. per pair; turkey gobblers 9d. per lb., hens Bd. per lb. live weight; maize, 3s. 6d. per bushel; wheat, 3s. 9d.; special, 4s. per bushel; fowl wheat, seconds, 3s. 4d. to 3s. 6d. per bushel; barley (feed), 3s. 3d. per bushel; barley, Cape, 3s. 6d. per bushel; horse beans. 4s. 9d. per bushel; partridge peas, 4s. 3d. to ss. per bushel; Prussian blue peas, ss. 6d. per bushel; barley meal, £6 per tou; pollard, £6 10s. to £6 15s. per ton; oat pollard, 2s. 6d. sack of about 901b.; bran, £4 10s.' to £4 15s. per ton; chaff, oaten slleaf, £5 10s. to £5 15s. per ton; oaten straw chaff, £3 15s. per hay, prime. £3 15s. to £5 per ton; all A. and-I'. Company's stock foods at manufacturers' prices; straw, wheaten, £2 10s. per ton; straw, oaten, £2 75., 6d. per ton; oats, feed, 2s. 4d. to 2s. Bd. per.bushel; oats, seed, sparrowbills, cartons, duns, 2s. 9d.; Algerians, 3s. 3d. per bushel; oats, crushed, 2s. Bd. per bushel; basic slag, high grade, 19 per cent, phosphoric anhydride, £4 10s. per ton; superphosphates, Mount I/yell, £5 per ton, ss. less for ton or more.

FETJIT AND PEODTJOE KEPORT. Tho New Zealand Fruit and Produce Co. report for the week ended yesterday as follows:—A good demand still exists for all kinds of fruit and vegetables. A\largc shipment of citrous fruits from Sydney caused prices to decline. Following aio the prices that were ruling during the week. Potatoes, 7s. 3d. to Ba. cwt.; onions, 6s. 6d. to 7s. cwt.: turnips, 3s. to 4s. 9d. sack; swedce, 4s. to ss. cwt.; carrots, 3s, 6d. to ss. 9d. sack; parsnips, 6s. 6d. to Bs. sack; cabbage, 6s. to 10s. 6d. sack; artichokes, ■ sb. part bag; cauliflower, 11b. to 16s. sack; lettuce, .3s. .to 6s.' 6d. case; spinach, 4s. to ss. case; pumpkin, 3s. to 4s. sack; marrows, 2s. to 3s. sack; apples, Washington 7s, to 7s. 6d., Stone Pi"mn 6s. to 75., Rokewood 7s. to Bs., Epps Seedling 4s. to 4s. 6d., Sturmers 6s. 6d. to Bs., Scarlet Permains Bs. 6d. to 10s.; Hobart apples, Scarlet Permains Bs. 6d. to 9s. 6d., Stone Pippitt 6s. 6d. to 75., French crabs 7s. 9d. to Bs. 9d., russets'Bs.; passion fruit, 6s. 6d. box; .oranges (Island), 6s. 6d. to 95.; bananas, 15s. to 18s.; pears (cooking), 7s. 6d. to Bs. 6d.; pears (Hobart), 4s. 6d. halfcase; pines, 7s. to Bs.; mandarins, Bs. to 9s. 6d.; sevilles, 4s. to 55.; lemons, 6s. to 75.; eggs (fresh), Is. 4d. doz.; eggs (preserved), Is. doz.; chaff, £5 to £5 155.; oats, A grade gartons, 2s. Bd.; bran. Bs. 3d. sack; wheat, 4s. to 4s. 3d. bushel; straw, 2s. to 2s. 3d. bale; rice, 6s. 6d. <561b.), mat; pollard, £6 tons; ducks, 4s. 6d. to 6s. pair; peanuts, 23s.:,sack; hens,,3s. to,3s. 6d. pair. , BANK OF ENGLAND RETURN. By Telegraph—Press Association-Gopjrrteh*. (Rec. August 12, 8 p.m.) London, August 11. The Bank of England return issued for the week ended Wednesday, August 10, is us under:— • IBBUE DEPABTITBNT. Note ItEue... £50.715.000 Gov. debt _. £11,015,009 • v ■ Other securities ...' 7,131,000 ' . Gold „ 38,266,000 : £56.715,001 £56,715,000 BUiKTUG DEPiETHEHI. , Propri»toi«' Govt. soonri- • oapital . £11,653,000 ties.'..- ... £17,375,000 Public do- . Otber securi- . positß ... 16,561,000 tiea... . ... 23,617.000 Qtherde- | . pOßita' .„ 10.657,000 Notes . „ 24055,000 Bom, 7-day and other Coin... ,„ IJIB.OOO bUIB 3,621,000 £75,192,000 : £75,192.000 The leading items of the Bank of England return afford tho following com. parisoa:— ■ . , • , This week, last week, last year. ■'.■•■■,..■£.■• £ ■ •£ Bullion'...- ....38,268,000 37,886,000 37,561,000 Beserv'e...' •'... '29,173,000 28,403,000 27,635,000 Note circulation 23,660,000 20,058,000 29,755.000 Public Deposits 16,561,000 15,306,000 6,ff12.U00 Other Doposits ■' 10,557,000 11,606,000 11,292,1)00 Proportion of re»erve to ■ ■ - : ■ liabilities ... 61,05 . 19.93 51.91 GOVERNMENT SECDHITIKB. _' The folio wine aro the. latest quotation! for Government securities, with a com* parison of those ruling last week:— ( >

■■';; BANK HATES OF INTEREST. The Bank of England discount rate was raised on October 7 last from 2i to 3 per cent., on October 14 to 4 per cent., and on October 21 to 5 per cent. On December 9 it was reduced to 4J per cent.; on January 20 to 3j per cent., and on February 10 to 3 per cent. On March 17. it was again raised to 4 per cent., on June 2 it was reduced to> 3! per cent., and on June 9 to 3 per cent. ■The Bank of Prance rate was reduced , from 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 3J t0.4 per cent., and'on October 11 to 5 per cent.; lowered Bamo on January 21 to 41 per, cent., and on February 10 to 4 per cent.j ■ . : ; MARKET KATES OF DISCOUNT. • .The following are the market rates.for best three months' bills:— . London Paris Berlin rate: rate. rate; ' per cent, per cent, per cent.. August 11 ...; 23 21-16 35 Last week 23-16 ■ 2J 3J Last year 17-16 1} 2 3-16 Short loans are quoted at 18 per cent., as against U per cent.' last week, and I}' per cent, a fortnight ago. COLONIAL AND OTHER PRODUCE. markets have hardened owing to the French harvest being 25 per cent, below that of last year. The advanced prices hare checked business "Mn the United Kingdom. Four Australian cargoes sold at 38s. 3Jd., 38s. 6d., 38s. 9d., and 375. 6d;. respectively;' on passage parcels, ; 365. to 38s. 9d.; August shipment' is being held for 375. Australian, on spot, 395. to 40s.;'New Zealand, 355. 6d. to 365. 3d. Flour—The market is flat, and the quotations are 275. to 275. 9d. on spot London, while 28s. 6d. is asked ;at , Glasgow for June-July shipment. Oats meet with a better demand. "Gartens, 18s. 6d. to 20s. 6d.; sparrowbillß, 18s. 6d. to 19s. 6d.; La Plata, August-September shipment, 13s. 4Jd. Butter is firm. Continental suppliers are decreasing. A few lots of choicest stored Australian and New Zealand are selling at high prices. Danish is quoted at 113s. Sugar.—German beet., 88deg., lOd. higher, at 14s. lid. per cwt.; first-mark/granulated f.o.b. Hamburg, 3d. higher, at 17s. 2d. Bradford Tops.-The market is firm and cheerful. Forties, Id. lower, at 13Jd. per lb.; forty-sixes, 16id.;' common sixties 263 d.; fairer sixties; 27jd.; sixty-fours, 283 d. -. THE METAL- MARKETS. Copper, on spot, 15s. highey, at £55 15s. per ton; three months, 30s. higher at £56 11s. 3d.; electrolytic, £58 ss. Tin—Three months, 255. higher, at £152 10s. per ton. Lead.—lmports, 22,030.t0n5, including 5734 tons from Australia; exports, 4617 tons. Pig-iron, Bd. higher, at 495. 10d. per ton. . ■ WHEAT. By Telegraph—Press Association—Copyright London, August 11. Wheat.—An Australian cargo sold at 38s 9d., and 7500 quarters of August-Septem-ber shipment at 395.

Tho American visible supply of wheat East of tho Kockics ie estimated ,at 26,987,000 bushels. THE METAL MARKETS. By Telegraph—Press Association—Copyright. London, August 11. Copper—On the spot, £56 is. 3d.; three months, £56 12s. 6d.; electrolytic, £58 10b. Tin.-On the spot, £152 10s.; three months, £152 7s. 6d. Silver is quoted at 24Jd. per ounce standard. LONDON MAItKETS. Messrs. Dalgety'and Company, Limited, report having received the following cable advices from their London house, under dato August 12:—Frozen meat: There is a poor demand, prices bcin? unchanged, with the exception of beef, prices which aro Jd. to Sd. per lb. higher, duo to scarcity of stocks. Tallow: There is a limited demand, any change in prices being in favour of buyers. OANTEEBUEY GRAIN MABKET. (By Telegraph.— Association.) Christchurch, August 12. There is a fair quantity of inferior wheat offering locally, for which there is little demand.- It is difficult to give quotations for wheat, as prices offered depend entirely upon tho sample, and there is over Is. per bushel between tho values of inferior and prime quality. The only sales reported this week arc of a line of 560 sacks of tuscan at 3s. Id., and a small lot of prime unweathercd pear! at 3s. 9d., at country stations. The market for oats is still inactive, there being practically nothing offering, and ,very little inquiry. Potatoes aro firmer, and up to £5 15s. at stations is now offered.

. Variations ' \ — ; . . ■ compaiofl ■ .V , Prlco. with ' ■ Iaat week. ' '. £ l. i. ~ '. ' SJ% Imporial Consols 81 il 3 8e.9d, lower i ,N.S.W.W33Jan.-Jvay 105 0 0 Unchanged 3i H N.S.W.M8.,iar.-S<ip. 08 0 0 Site.lowor 8 ,,N.S.\V.lU35ApI.-Oct. 83.0 0 Unchanged i. ,,Vic. UiiOJan.-July 102 0 0 6s. lower 3i ,,Vio. 19il-6Jan.-July 08 ,0 0 Unchmjied 3 „ 'Vie.ieia-iOJan.-July 85 10 0 Unohangod 3j ,,S,A. 1010 Jan.July ■ 87 5 0 Unchangod , 3 ,,S.A.1J16 Jan.-July 81 2 6 Unchaneod i ..Cl'l'dlOlMlJan.-July 103 0 0 Unchanged ai,,CJ'l'dl!fc!l-30Jan.-July 93 0 0 Unchanged 3 ..QTdmMTJan.-July S310 0 Unchanged i ,,N.Z. 1920May-NoT. 10610 0 Unchanged 3j ,N.Z. 19iOJ»u.-July 98 0 O 6s,lower 3 H N.Z.1915April-Oct.. (88 0 0 6s. higher 3J,iW.A.19aH0May-Nov W 10 0 Unch»n«ed 3 „ W.A,lH5-35Ma?-Nov 88 0 0 Unchanged ii „ Tas. WlOJan.-July »■( ( Unoh&ngod 3 M Tas.li)-21)-t0 Jan.-July 86 0 0 Unchanged