COMMERCIAL ITEMS.

Dominion, Volume 3, Issue 901, 22 August 1910, Page 10

COMMERCIAL ITEMS.

t. '' . '■■INVESTMENT SHARES. / / 'The week closed with an active maxket, and fair businoss sales were made in Nar tjonal Banks at £5 17s'.,- Wellington Woollen ordinary, £3 2s/ 6d., and Ward arid Co.. ■brewery shares,; ; at £5 2s. 6d. The quotas tions were as-under:—■

!, :• ;.'TELEPHONE TEAPPIO .'.'. Some interesting statistics showing the development of- telephone traffic in tho flvo. countries that most largely use this means of communication are published by the "Frankfurter Zeitung."' The figures were' prepared in order to disprove the statement lately attributed to tho German Post Office authorities;to the effect that tele-, phone, calls in Germany wero. so enormous to: have become" a regular .'abuse, and. that consequently; the rates would need to. bo raised in order to enforce, greater econ--omy of its 'use. -As: the British telephone' systems will be combined next year into one service (administered by 'the .Government, the incident'referred to'has attracted some attention in London. It is difficult to imagine, however, that the British' Government Department will discourage the increase in the business in any way, although . the commercial community in, London arc feeling somewhat dubious about tho changes in control of the telephones.. What needs to be guarded against is tho substitution/ of red tape for intelligence, a tendency ' that is already sufficiently marked in Government management gonerally. . Tho number of telephone conncc-. .'tions on January 1, 1900 and 1909, and also-, the number of telephone calls made 'during the year 1908 in each country shows the actual development of the Bystcin: It also gives some idea of tho magnitude of the ta.sk assumed by any- Government which makes a monopoly of the service, as will be gathered from tho following table:—. ... Stations on Jan. 1. ' Countries; '■' 1900. 1909. Calls in 1908. America 2,200,000 6,620,000 11,373,000,000 Germany ....... 212,200 860,000 1.579,400.000 England 115,000 690,000 1,808.100,000 Prance 63,200 197,000 265,610,000 Sweden .'.. 63,500 • 167,000 301,210,000 ■ According-to .these , figures the development of tho telephone service in America is far in advance of that in other countries, in regard to stations and calls-made, both absolutely and when compared with the population. .In America tho service is supplied by private companies. CUSTOMS REVENUE. . The Customs revenue collected at the port of Wellington for the week ending August 20 amounted to £10,161 os. 7d. Saturday's contribution amounted to £1190 16s. 7d., and the beer,duty £213 os. 6d. ■ FEILDING MARKET EEPOBT. ' A..H. Atkinson and Co., Ltd., report a medium yarding of pigs on-Friday, and values on a par with ruling rates, with keen demand for .wcaners. Primo sorts were not forward. Poultry pens wero not filled, and wo, had unlimited inquiry for cockerels, medium weight turkeys, and forward chickens. Wlicat and barley met.a rather dragging sale, with reserves above buyers' idea of value. Potatoes wero also slack of sale, and good seed sorts wore .offering. We.Quote:—Poor wcanors, 65.. 75., 75." 6d. to Bs. 6d.; belter sorts, 95., 10s. to lis.; stores, 165., 205., 20s. 6d.,:235,;-heavy to 275.; light porkers. 215., 225; 6d. to 265.; sows, 355., 375. 6d. to £3 10s. Poultry, per pair— liens, 3r. 3d., 3s. 6d., 45., 55., ss. 3d., ss. 6d. to'6s.; cockerels, 3s. 6d. to 55.; ducks, 4s. 6d. O.S. chaff, 3s. 9d. bag; barley, 2s. 9d.. bushel; oats, lo 3s. Stunner apples, Bs. to 9s. case. Table potatoes, 95., 10s. to 12s. sack. Pig. 3h. to 3a. 6d. Seed, Bs.-to 9s. cwt. Cauliflowers, 4-for 9d."Onions, 3d.-lb: ■Pumpkins, 3s. 6d..Hams,:7d.'por lb. Bacon, ■• 7Jd..- Factory bacon, sides, 7d..per lb.;-hams' ' Bid.

BANK' OP' ENGLAND-RETURN.-•; By Telegraph—Press Association-Copyright London, August 18. Tho Bank of England return issued for the week ended Wednesday, August 17, is as under-.— "... Issue Depabthent. Nolo Issue ... i-57,312,000 Gov. debt ... i 11.015,0011 Other securities .:. 7,!M,toa Gold », 38,763,000 £57,212,033 ' '. £57,212,000 ,:' BINKISG, PEPABTIIEST. '' •: Proprietors' ~ J Govt, securicapital £11,553,000 ties.'...- • ... f16.011.f100 Public do- ■ Other securiposits ... 16,566,000 ties... ... 23,390,000 Othordoposits ... 30.730.000 Notos ..'. 2ii,709,000' Kcßt, 7-day ■ ■ . and other Coin... J_ 1.180,000 bi115...; ... 3,511,000 £71,300,000 ' ' £71,390,000 'The leading itema of the Bank of Eng. land return afford the following com, parison;— This week. liastweek. Last year." Bullion ... • ... 38,761,000 88,266,000 39,523,000 Reserve 29,963,000 29,173,000 ■ 28,934,000 Note circulation 2S.IIMX» 25. 0 60,000 . 20,<50,000 Public Deposits l(i,56o,000 16,561,000 10,J22.000 Other Deposits M.Vai.WXI 40.557,000 11,6911,000' Proportion ot , • .reserve to ! ' ' / , liabilities ... 63.19 . 61.06 52.54 GOVERNMENT SEOHRITIB3. The following are the latest Quotation! for Government securities, with a comparison of those ruling last week:—

: / ■ ■ '. ; BANK RATES OF INTEREST. The Bank of England discount rate was . raised on October 7 last from 2J to 3 per cent., on October 14 to 4 per cent., and on October 21 to 5 per cent. On December ?it was reduced to 4£ per cent.; on January 20 to' 3>> per- cent., and on February 10 to 3 per cent. r On-March 17; it-was'again raised to 4 per cent., on June 2 it was reduced to 3J per cent., and on June.9 to 3 per cent. The Bank of France 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 Sep-, timber 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 45vpcr i.eent., and on February 10 to 4 per cent." MARKET RATES 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 18 23 2 31 ' Last week 2jj ■ 21-16 31 Last'year • 17-16 1J 23-16 Short loans are.quoted at U per cent., as against lj per cent, last week, and .11 per cent, a fortnight ago. COLONIAL AND OTHER PRODUCE. ' Wheat—The market is. quiet, but prices aro firm on account of the continuous receipt of unfavourable crop reports from France. Boerbohni's rough preliminary ; estimates 'goes to 'show tbat tho world's crop amounts to 436,500,000 quarters. Chicago' September wheat is quoted at 1 dollar to 1 dollar. 2 cents. Australian cargoes have a tendency in favour of buyers. • Some 13,000 quarters January-February shipment sold at 38s. 9d. and 40s. on the spot. Spot business is, however, quiet. Flour.—The market is dull. Australian patents on. tho spot in London are quiet. At Glasgow and to arrive, the price is 28s. Oats.—The market is firmer. River Plates, August-September shipment, are quoted at ' 13s. 75d. > . Butter.—Market is firm. Danish is quoted at 115s. to -116s. per cwt., and a few. sales have taken place at those figures. Stored Australian salted is offered at 106s. to.,loßs..per ewt., and New Zealand at'll2s. :. to-114s; Excellent. prospects, are' reported! for the new season's make. Agents are expecting the first Australian butter to . realise 114s. to 116s. per cwt. for choicest. . Oheese—Prices are firm. New Zealand white 58s.* and 'coloured 675. per cwt. , Sugar—German beet sugar, 88 per - cent, net- titTe, is quoted at 14s. lid.—the same as last week; granulated, 17s. 6d. per cwt.— or-4d. higher. Bradford Tops—The market, is firm. Prices- aTo unchanged for tho week, and' aire as follow:—Tops on spot, 64's, 283 d.; super 60's, 273 d.; common 60's 26»d„ 46's 16Jd., and 40's at 13Jd. ■ ."'■ ,"; , METAL MARKETS. '' Ooppor.—On the spot, '10s. higher, at £56 ss.;'at throe,months,-£56 18s. 9d„ 3s. 6d. higher. Tin—Spot price, £154,55. per .ton; three months, £155 12s. 6d.pcr ton, or £3 2s. 6d. higher. Spclter.-£22 17s. 6d. per ton. - . . Pig Iron.—Middlesbro' No. 3, 505., Id. per ton, or 3Jd. higher. ~''... " ■■'.: LONDON' COMMERCIAL. By Telegraph—Press Association—Copyright. (Reo. Aug. 21, 5.5 p.m.) "•' London, August 20. Hemp is dull and unchanged. : Rubber.—Fine, hard Para is quoted' at Bs. lOd. per lb. .''■-.' Copra ia firm, South Sea, in bags, £24 10s. per ton. ~ Cotton.—The Liverpool, quotation ' for American middling upland cotton is 7.73 d. per .lb. '■■■•'• - •• -■■ --,-- .-.-'■ Rabbits are quiet, and' unchanged. THE METAL MARKETS.' Copper.—On spot,' £56 2a. 6d;-per ton; three months, £56'175..:6d.'. . ': Tin—On spot, £154, 10b. i per-ton; three months, £153' 15s, • Antimony, t £8. ' Silver—BaT silver is quoted at.MJd. per .ounce standard; FROZEN MEAT. • .- Messrs. Dalgety t and' Company, Limited,, report having received the following cabled advice from their ■ London house, under .date August 17:—"Frozen .Meat—Market ia 'firm, but prices aro unchanged." The ; New Zealand. Loan and Mercantile Agency Company, 'Limited, have, received tho following cablegram from their London house, under date August 19.—Frozen Meat—Frozen mutton: Market unchanged. There is a fair goneral demand for lamb. ' Arrivals of beef are in excess of trade requirements. , . .-

,' Buyers. Sellers.. ' Sales. ;.. .£s.d. £ s.d. £.n.d. National Bank ..:.... ■ • — ' 5 18 .0 ■ 5 17 0 Bank of N.Z;' - " 1017 6 •" - ■." 'Eauitable Building 1 10 0 - — Metropolitan : 12 • 0 0 . — — N.Z. Loan and Mer- . ' . ,' cantile .;., — Oil 6 : — N.Z. and Eiver , Plato..... .:.;.....;. — : 2U.0- — " Wellington Gas(£1« — 18. 2 6 . — Wellington Gas (£6, 15s.) t - , 1312 6 - N.Z. Insurance -. 4?2 0 — Standard'Insurance 15 0' — ' — Gear Moat (£4) ... 10 5 0 - •' ' - Gear Meat (£1) ; 215 0 — -' - Meat Export (£4) ..., 5 2 6 — v Meat Export (£212& : . 6d.) •..:. 3 2 6 3. 5 0 - N.Z. Shipping 9 12 6 10 0 0 - Well. Woollen (ord.) 2 12 6 .'- 3 12 6 Westport Goal...... 6 13 0 615 0 — Westport Stockton 0 6'9 . —" V — 1-7 0 18 0 — Manning and Co. ... 4 0 0 . — ■ ■ ' — ,', N.Z. Con. Dental... — 1,2 6 — N.Z. Paper Mills:..' 1 1 2 3 - - ' - Sharland's ord. ... 1 2 0 ■—■.-. — Sharland's pref ........ I 2,0 1 2 .'6. — Taringamutu.Totara 110, 0 • — , ■• — ■ • Ward and Co. - - 5 2 6

Variations — . complied Price. wi'h ' ; last week. * i. i. ■■■ U% Imperial Consols , 810.0 Is. 3d, lower i „N.S.W.1933 Jan. July 105 0 0 Unchanged 3i „N.S.\V.1918ilar..Sop. 98 0 0 Unchanged 3 „ N.S.W. 1035 Apl.-Oct. 83 0 0 Unchanged 4 „ Vic. 1920 Jan.-July 102 0 0 Un'changod Si „ Vic. l'JvU-e Jan. July 98 0 0 Unchanged 3 „ Vic. 19i9-49Jan. July B5 10 0 Unchanged 3J „ S.A. 1916 Jan.July 97 5 0 Unchanged 3 „S.A.lJlGJan.July 81 2 6 Unchanged 4 ' „QTdl915-!UJan.Jnly 102 0 0 Unchanged 3i „QTdia!4-30Jan.Jiily ■ 93 0 0 .Unchanged 3 „Q'i'dl9-2i«Jan.July 85 30 0 Unchanged i „H.15.1939May-NoT. 10010 0 Unchanged SJ...N.Z. 1910 Jan.July 95 0 0 Unchanged 3, „X.i4.1Wf.April.Oct. 83 0 0 Unchanged 34„"W:A.19aM0Jlay-Nov 9710 0 Unchanged 3 „W.A,lM5-15May-Xov 68 0 0 Unchanged 3t „ Tas. iWOJan. July 99 0 0 Uncoanged 3 ..'JJtB.laiid-fflJan.July 86 0 0 Unchanged